Groupama has appointed investment bank Morgan Stanley to test market interest in Gan Insurance, which has the fourth network of general agents in France quick payday loans. Axa is mentioned among the potential buyers, as the most motivated. EUROCOURTAGE Vie and Groupama Gan could also be assigned, provide financial sources.

At the same time, management is considering a merger with an investor temporarily.The head of communications, Frédérique Granado, also decided to leave the band.

ALSO READ:

"Groupama is separated from her boss

"Groupama new investors?

Saturday, the Prime Minister on the road to Morzine already displayed color. Debt crisis forced the state budget for 2012 will be "one of the most severe since 1945." There is no alternative to debt reduction, and it will be possible by reducing public spending, he said in substance.

"The hour of truth has come, he warned.There is no need to attack rating agencies, bankers, speculators or some sort of scapegoat, no need to believe that there are hidden treasures to finance our spending. [...] There is no other income to reduce debt but to reduce spending, "said Francois Fillon. But thanks to these efforts, the Prime Minister considers that France "will remain one of the ten countries in the world with the best financial credibility," and therefore the loan conditions are most favorable.

Sorry, this video is not available on your mobile.

But mainly because the second plan with 158.6 billion euros, concocted by the Heads of State on July 21 and has yet to be ratified by all members of the euro area, has been seriously shaken by Finland.

Helsinki this week announced it has signed a bilateral agreement with Athens where, in exchange for his participation in the bailout, Greece to collateral ("Collateral") to Finland. This sum, which some analysts valued at 1 billion euros would be invested by Finland in risk-free assets.Interest earned will, in the end, to cover the amount loaned in the rescue plan. In other words, the Finnish government has made pledges to ensure against any risk of default of Greece.

Two-tier system

Technical in appearance, this agreement could have an impact politically devastating. Although this is a bilateral agreement, "Member States of the zone will validate this discussion between Finland and Greece," said a spokesman for the Commission, Amadeu Altafaj, ensuring that " Negotiations are already underway. "

But in Brussels, it does not hide his concern. If it is definitely validated the agreement between Finland and Greece could open a Pandora's box by allowing other countries to step into the breach. Austria, Slovakia and Slovenia are already tempted to do the same."We believe this agreement will exacerbate the problems of Greece and did not fall," warned yesterday the Dutch Prime Minister Mark Rutte. He said the solution is equivalent in effect to "resume direct" the money lent. However, the Dutch Prime Minister said that if the Finns get this guarantee, it should apply to all countries in the euro area make quick cash.

Therein lies the problem. By creating a two-tier system, the agreement undermines the solidarity displayed by the leaders of the euro area on July 21. "The participation of Finland has been canceled," said one EU source, deploring an arrangement going "against the spirit of the agreement" for Seventeen.

Difficult, however, to reverse, the source added.Helsinki is indeed required to deal with the nationalist party of the True Finns since their breakthrough in the last legislative elections and their reluctance to come to the rescue baskets drilled in the euro area.

Markets are not fooled

Under the pressure of Finland, the Heads of State of Seventeen had included a short clause in their agreement of July 21, stating that "where appropriate, a security agreement will be established to cover the risk arising, for Member States of the euro area, the guarantees they have provided to EFSF. " The rhetoric is vague and leaves open to interpretation. Yesterday in Brussels, experts from the ministries of finance in the euro area came together to floor on the issue.

For the Commission, this development is not a surprise, and he emphasizes the urgency of ratifying the agreement of July 21.José Manuel Barroso had written to heads of state of the euro area from August 3 to ask them to speed up the timetable, and thus "avoid introducing excessive stress in terms of conditions or additional collateral." We understand better the rush now.

Athens wanted reassurance yesterday, indicating he had entered into negotiations with a pledge of Helsinki. But financial markets are not fooled: "If all countries in the euro area, each requiring a Trust Agreement, this will restrict all the help that will actually be available for Greece," say economists at Barclays Capital. This would imply de facto establishment of an additional third envelope.

ALSO READ:

However for Barack Obama the "time is running out for agreement on the debt." "If they (elected officials, ie) show me a plan I'm seriously ready to move," said the American president during a conference at the White House.He found that the Republican plan without raising taxes was "not serious" and expressed regret that "elected officials are blocked by their ideology."

Ideas to raise the debt ceiling

"Obviously, time is running out is pourquuoi I told the congressmen that they should submit to me within 24 or 36 hours the ideas they have to raise the debt ceiling," at he said. Barack Obama has decided that this issue should have been resolved long ago, adding that, underlying deficits should be addressed. The owners of private jets and millionaires, could pay more taxes to participate in solving the debt problem, he added savings account payday advance.

He also dismissed the idea of ​​a reduction of $ 2.4 trillion federal budget unless it is accompanied by an increase in taxes."By immersing myself in the numbers, I have not seen a credible plan that would allow us to find 2400 billion dollars without affecting the average American," said Bush. "The idea that we do this without asking the wealthiest among us, or without removing tax loopholes for companies, does not seem serious."

Threat rating agencies

Since mid-May, the U.S. federal debt has reached the maximum allowed, an issue that the Treasury does not get around forever and that requires raising the legal limit by a vote of Congress.The Republican majority in the House of Representatives blocked for now, we want to tackle the deficit, having grown an opposite attitude for years until 2009.

The U.S. president comes as two credit rating agencies have suggested that they could degrade the debt rating of the United States currently in AAA (the best) if no ACORD between Republicans and Democrats was found by the deadline Aug. 2.

(With agencies)

The Minister of Labour has also promised that the number of employment center will remain constant at 45,422 agents. A feat, said his entourage, "in a constrained budget and despite the fall in unemployment in January (35,700 job seekers in category A)."

To meet the general discontent on the number of positions considered inadequate in several reports in recent weeks, however, Xavier Bertrand announced the redeployment additional 500 agency staff support functions to assist job seekers. "The back office staff have already gone from 25 to 17%, do you remember rue de Grenelle.This redeployment is an effort of a point higher. " During a videoconference with the sub-prefects, the Minister had, earlier, praised the rapid development of assisted contracts concluded in the nonprofit sector: 100,000 in seven months, against 120,000 budgeted in the year .

See also:

"The action deemed insufficient employment center

"The Senate wants performance bonuses at job center

The same rule of proportionality that it is "reasonable to assume that for the 1956 generation, the calculation will not lead a quarter more," Advanced Raphaël Hadas-Lebel. Except that makes INSEE state by 2012 – when the ROC has to look at this generation in 1956 – an improbable leap in life expectancy …

Admittedly, the stakes are also unpublished. The Wall Street as investors Journalrapporte particularly experienced such a number of asset management, BlackRock, the insurer MetLife or the Federal Reserve (Fed) of New York complain about the conditions of sale of so-called "subprime," these products complex financial risk that formed the heart of the Great Depression of 2008.Symbol of a finance gone mad, these "subprime" were associated with variable rate mortgages granted to families with poor credit. Their value plummeted after the collapse of the U.S. housing bubble, which caused a series of foreclosures and debt of thousands of homes.

These individuals will not receive the compensation that Bank of America has agreed to pay. Indeed, they are used only for investors who are customers of Countrywide Financial, now a subsidiary of Bank of America in January 2008. The specialist mortgage lending in the United States had sold to investors of financial products like subprime for an initial value of $ 105 billion accompanied by guarantees on the composition of their portfolios no fax pay day loan.But soon after, with the bursting of the housing bubble in the U.S., these investments have proved extremely risky, losing most of their value. Investors who bought these financial products from Countrywide Financial believe to have been cheated, since the original contractual terms have not been met.

The case could set a precedent

Bank of America for months trying to resolve this embarrassing litigation, inherited directly from the acquisition of Countrywide Financial. But until now the CEO of Bank of America, serving for a year and a half, has refused to pay for past investments, arguing that investors had acted knowingly.By agreeing now to pay the full price, so it gives a signal again, and strong.

This case may give ideas to other investors who lost big in the collapse of the "subprime". Thus, other banks like Wells Fargo or JPMorgan could also be directly affected by requests for compensation.

The U.S. bank, which also pass for $ 6.4 billion of writedowns in its accounts the second quarter, estimates that its net loss for the three months ending in late June could be up to $ 9.1 billion, according to a statement of the institution.

ALSO READ:

"The largest banks will boost their capital

NEO offers a second life to the A320 but the classic version provides lucrative profits and can "run the factories." In 2010, the A320 has represented 401 of the 510 deliveries made. There are still 1900 to be delivered by 2015.Airbus is absolutely limit conversions. But it is not easy to say no to a big customer like Malaysia AirAsia, which already has 90 A320s into service on a total of 175 ordered.

While the concern is to steer Airbus as thinly as possible switching from one device to another without breaking industry. "If the A320 were canceled massively in favor of the NEO, then there would be holes in the schedule of deliveries by 2015 without another device to fill," admits one in Toulouse. "But this reasoning is extreme," says one. Another problem is rapid saturation of the NEO delivery slots.

Accelerate the pace

Hence the decision by Airbus to bring forward by six months the date of entry into service of the NEO to October 2015 and to accelerate the pace of production. From 1 st quarter of 2012, Airbus will assemble 42 A320s a month against 36 now.He plans to climb to 42 or even 44 A320s per month, provided that its suppliers could follow suit.

The stakes are high. The A320 NEO sped away, crossing the milestone of 300 orders in just five months. The Indigo Indian, American ILFC, including Lufthansa has ordered to be served first. Apart from the Bombardier CSeries expected in 2013 if not late, the NEO will be the first to market. Boeing has not decided to re-engine the 737 and would, if necessary, not ready before 2017. As for the Chinese C-919, it will not be commissioned before 2016.

By late June, John Leahy promises hundreds of new orders. Airbus estimates that the potential of his latest is around 6000 units by 2030, only fifteen years ago.It is thanks to the NEO that the A320 has reached the milestone of 7,000 orders last April 30.

ALSO READ:

The WTO will rule on the battle against Airbus Boeing

In France, producer prices have continued to increase in March in the eurozone of 0.7% compared to the previous month, said Tuesday the EU statistics office Eurostat. This is the only European statistics of the day.Orders to U.S. industry rose more sharply than expected in March, rising for the fifth consecutive month, according to figures released Tuesday by the Commerce Department.

On the currency front the euro went up on Tuesday against the dollar, while a revival of investors' aversion to risk fueled a rebound in the dollar and the Swiss franc rose to a record against the U.S. green. Around 17:30 in Paris, the euro bought 1.4870 dollars against 1.4824 late Monday. It reached 1.4902 dollars Monday meeting, a record high since early December 2009. The oil also declined as the market tries to assess the consequences of the death of Osama bin Laden.A barrel of light sweet crude for June delivery lost 89 cents to 112.63 dollars.

Values ​​to follow

France Telecom: – 0.57% to 15.77 euros

The operator issued Tuesday sales down 1.4% on a comparable basis to 11.23 billion euros in the first quarter of 2011, in line with analysts' forecasts, and earns 7% of customers additional one year. The share of winning new broadband subscribers is 20% against 36% in the fourth quarter of 2010. The group confirmed its annual goals, including a dividend of 1.40 euro per share for 2011 and 2012.

EADS: -0.10% to 20.75 euros

The company Korean Air has placed a firm order for five long-haul Airbus A330-200, a contract worth about $ 1 billion at list prices, Boeing said Tuesday.Furthermore, the Airbus chief welcomed Tuesday's repechage of the second black box of the A330 Air France (Paris-Rio) crashed in June 2009 and hoped that the recorders of the aircraft, only to able to determine the exact causes of the disaster, will still be readable.

Areva – 0.29% to 31 euros

The group released Monday sales up 2.2% in the first quarter, thanks in particular to its activities in mining, and said it was studying the impact of the Japanese nuclear crisis on its activity and prospects.

Furthermore, Eramet (-0.23% to 265.55 euros) would like a partial withdrawal of Areva to increase the free float of the mining group.

Lagardère: -1.46% to 29.26 EUR

Lagardere said Tuesday its operating income target for 2011 despite an economic environment that he describes as uncertain after reporting a slight organic growth of its turnover in the first quarter.

Altran: – 4.59% to 5.25 euros, biggest drop in the SBF 120

Natixis downgraded its recommendation from neutral to easing for valuation reasons, noting that its price target unchanged at 4.7 euro implies a potential drop of 15% premium over Monday's closing (5.51 euros).

Valeo – 1.88% to 42.75 euros

The rating agency Moody's Investors Service upgraded a notch Tuesday in the footnote to French automotive supplier, ranking among the now reliable borrowers, because of the success of the restructuring undertaken in recent years by management.

Ipsen: + 2.64% to 27.19 euros

Ipsen announced Tuesday an increase in sales in the first quarter, helped by its specialty branch of medicine involving oncology, endocrinology and neurology.On this part of fiscal 2011, the turnover of the pharmaceutical group totaled 285.8 million euros, up 6.1% excluding currency effects.

Bolloré: + 1.30% to EUR 172

The group released Monday up 16% of its turnover in the first quarter and reported financial indicators "satisfactory" despite the events in Côte d'Ivoire, which have weighed on its business.

CAM: + 3.68% to 28.28 euros (largest increase deu SBF)

The group specializes in the automotive and pharmaceutical distribution in Africa, announced Monday an increase of nearly 16% of its turnover in the first quarter despite the crisis in Côte d'Ivoire, the earthquake in Japan, the "Arab spring" or unfavorable exchange rates.

Steria – 1.97% to 22.38 euros

The company services and computer engineering said Monday expect renewed growth in the United Kingdom, an area where the group achieves more than a third of its sales.

Hi-Media: – 3.05% to 4.13 euros

The group reported Monday in an acceleration of its business in the first quarter, an increase of 9.5% of its turnover, and confirmed its forecast for the full year.

Total: – 0.66% to 42.76 euros

The petroleum announced Monday it had agreed to not take a majority stake in SunPower, at the request of the U.S. company that specializes in solar panels, during the first two years of their agreement.

STMicroelectronics holds its general meeting on Tuesday. After market, Tess, Vicat, and NRJ Group must publish their turnover for the first quarter.

The original loan was for a period of 5 years. Incidentally, the state has pocketed substantial interest. Indeed, the loans have reported "a total 715 million euros of interest on an average of 21 months, announced yesterday the Department of Economics.

Bercy also recalls that the loan of 19.75 billion to several banks granted himself has been fully repaid on March 23 with 2.4 billion in interest to the key.