Altran Thursday confirmed a large increase in operating margin for 2011 following growth of 7.2% of its turnover for the year, and said he was "reasonably confident" in 2012 despite ; economic uncertainties. Sales of specialist technology consulting totaled 1,419.5 million euros last year, growing "economy" of 8.1% (on a comparable basis excluding the impact of exchange and changes in working days). The fourth quarter alone, sales of Altran amounted to 370.6 million euros, increasing by 6% and an "economic growth" of 8, 6%. "Despite an uncertain macroeconomic environment, the Group is reasonably confident for 2012," he said in a statement its CEO, Philippe Salle. Philippe Salle had told Reuters in October Altran, a deficit in 2010 would remain negative in 2011 but would profit in 2012. The group will publish its annual results on March 12. Altran has completed action on Wednesday during a 3.801 euros, representing a market capitalization of 550 million.

The Swiss Federal Council announced Wednesday it had decided to renew its fleet of combat aircraft with 22 copies of the Saab Gripen of Sweden, preferred to Dassault Aviation's Rafale and the Eurofighter Typhoon European consortium which includes EADS.

Switzerland was launched three years ago the tender for the renewal of its fleet, now consisting of F-5E / F Tiger built by the American Northrop, whose older copies have been flying since 1976.

The National Assembly on Friday passed two taxes on soft drinks, including one on drinks with sweeteners. And despite a lobbying "scary" Coca-Cola, who may have done too much. The fee for sodas sweetened products will bring 240 million euros, the lights on 40 million.

Coca-Cola has lost. The National Assembly approved Friday the establishment of a tax on soft drinks, the amount will be doubled from the initial project of the government. And it also introduced a tax on beverages containing artificial sweeteners, which rose against the giant soft drinks. The tax on soda, two cents per can, bring 240 million euros, half of which would finance the reduction of social security in agriculture, and the light on sodas 40 million euros, said Minister Budget, Valérie Pécresse.

It is not Coca-Cola because of trying to oppose it by conducting intensive lobbying. The point that the UMP Bernard Reynes, the source of the amendment proposing to tax the light, was pessimistic about the chances to see him go. "And I will not deny that it bothers me that the creations of law are dependent groups such as Coca" he admitted even to the expansion. Com shortly before the vote.

"One of lobbying juggernaut"

Light beverages are indeed 60% of the revenue of Coca-Cola. Well above its competitors. Where the offensive of World No. 1 soft drink for the desired version of the tax. Mailings burst, increase in phone calls and requests for appointments, Bernard Reynes supports even have really been "harassed" by the group. "I had an unacceptable pressure. It is normal for multinationals discuss with MPs.But not how it happened. "

And it is far from alone in being surprised by the firepower deployed by Coca. Many players linked to the Assembly (lobbyists, MPs and their families) show a lobbying "huge", "scary", "pressing as is not permitted" and "the strength of a tank "the giant soft drink with parliamentarians and government.

"They call everybody! I received phone calls from friends, Bercy for example, who did not care at all about this, but tried to convince us to abandon the project," said parliamentary assistant to Jean Dionis du Sejour, Vice President (New Centre) of the Committee on Economic Affairs. Until the discreet meeting between Nicolas Sarkozy and the President of Coca-Cola Europe, Dominique Reiniche, revealed Wednesday by Challenge.fr.

Promises to invest in France, threatens to leave, may give an anti-American image that may scare away other groups … This mixture of "caresses and threats" Coca has been confirmed by several sources MPs we interviewed. In the end, however, the U.S. group may have done too much … "If there is one lesson it is that of the lobbying juggernaut does not work," says Paul Boury, subject matter expert.

A "catastrophe", really?

The action of Coca has not been completely ineffective. The final version of the tax on the lights was indeed amputated 80 million euros compared to the original text. "But that Coke does not care, provides a lobbyist familiar with the matter on condition of anonymity. The group was even willing to pay 250 million euros to the government to abandon the measure.The principle of a tax on "light" is a national disaster for them. It stigmatizes products. And a tax, especially in France, is always liable to change. "

The battle is not yet definitively lost to Coke. Valérie Pécresse, who did not support the expansion of the tax, received two separate taxes are adopted. This compromise, said the minister, can "legally secure the device", separating the tax on sodas "we know that the law is indisputable" and that on sweetened beverages, which it has less chance of pass "on the Constitutional Council." And it might explain the legal complaint "arbitrary tax" because not related to a vital public interest clearly identified.In fact, the argument of the national association of food industries, which already qualifies tax sweeteners to "unconstitutional". According to them, in fact, taxing sodas light rather than any product has "no motivation."

Diageo has reported strong sales Wednesday as part of its first fiscal quarter and said, anticipating a further growth in the first half.

Sales of the world's leading spirits, which makes Smirnoff vodka as well as Captain Morgan rum, rose 9% over the quarter on a comparable basis, while the ten brokers polled by Reuters on average expected a rise of 5, 9%.

By 0930 GMT, the action Diageo gained 3.52% to 1,325 pence, the fastest rise in the Stoxx European sector of the beverage and food, up 0.63%.

The British group will hold its annual general meeting in the day.

All countries in the euro area, except Greece, will repay all their debts, said Sunday Christian Noyer, member of the Board of Governors of the European Central Bank.

Recognizing a concern about this market, he stressed that Italy was in primary budget surplus (ie, outside debt service) and in Spain, the main economic and financial indicators were better in the United Kingdom.

"We can rule out defects in Italy, Spain, and shall exclude defects in Ireland and Portugal," said the Governor of the Banque de France on RFI and TV5 Monde.

That Italy chose not to pay down its debt, "is out of question because it would mean that Italy would have no ability to move markets to borrow money (. .) This situation is unthinkable. "

"Portugal and Ireland definitely do not want not to pay in full, every last cent, their debts," he said.

Rest of Greece, which in his view a limited risk for French banks, even if the discount applied to private investors on Greek debt exceeds 21% negotiated to date.

"The Greek sovereign debt is in the books of French banks is eight billion (.) Is fully absorbable," he said.

"There is no problem, this is not the problem," added Christian Noyer. "The problem is the uncertainty that was created precisely for this situation of Greece to be a reduction in debt from investors, who created a general anxiety in the market."

The U.S. equity markets closed up Friday, completing a second consecutive week of gains, driven by the announcement of higher than expected U.S. retail sales in September and found satisfactory by the quarterly published by Google.

These two elements were added to the renewed investor optimism about resolving the debt crisis in the eurozone.

The Dow Jones was awarded 1.45%, 166.36 points to 11,644.49, the S & P 500 took 20.92 points, 1.74% to 1224.58 and the Nasdaq was up 1.82 %, 47.61 points to 2667.85.

For the week, the Dow gained 4.9%, the S & P 500 was up 6% and the Nasdaq took 7.6%.At these levels the closing, the Dow and Nasdaq are in positive territory compared to the 1st January.

The latter, with a high weighting technology, benefited primarily to figures released Thursday by Google after the close.

The world leader in Internet search far exceeded Wall Street expectations, posting a profit increase of approximately 26% and its stock has surged 5.85% to 591.68 dollars.

Apple is no exception and ended the session on a rise of 3.32% to 422.00 dollars, investors are welcoming the number of orders in the U.S. for the new version of the iPhone.

Indicators, retail sales rebounded in the United States in September, recording its strongest growth for seven months, show official statistics published Friday.

The Commerce Department reported a 1.1% increase in retail sales last month, thanks to the strength of the automotive sector to Reuters anticipated an increase of 0.7%.

The NGO CCFD accuse the G20 not to advance in the fight against tax havens as some of its members are. The headquarters of the Cayman National Bank in George Town. The Cayman Islands are in the core of tax havens.

The fight against tax havens seems "broken" at the G20, said the association CCFD in a report released Thursday, calling the twenty major powers fight again financial opacity at their summit on 3 and 4 novembre.Dans this report entitled "Tax havens, the G20 last chance", the nongovernmental organization (NGO) very involved on this subject says that "uncooperative jurisdictions" and secrecy have not disappeared, contrary to that would suggest the lists published after the G20 summit in London in 2009 and have gradually emptied.

The list of the Organization for Economic Cooperation and Development (OECD) contains more than a handful of tax havens insignificant. Almost all of the others were bleached after signing at least twelve bilateral tax information exchange. "In two years, 37 territories have gone gray and black lists of the OECD, bleached for agreeing to take a step towards the exchange of tax information," the Catholic Committee against Hunger and for Development (CCFD ) in this report which AFP obtained a copy.

The NGO notes that these developments have taken place "under pressure" because "in early 2009, the very idea of ​​one day communicate information to a foreign tax administration was absolutely excluded from certain countries", while now , "plus an area can not afford to refuse to open dialogue about it.""Pointing the territories is an effective strategy to force them to act," concludes the report. However, "two and a half years, the G20 seems down to the question" regrets the association.

Switzerland, the United Kingdom and Japan are tax havens

CCFD releases another list, that of the Tax Justice Network, an NGO network that refers in this regard. The grading of opacity financial newly updated total of 73 territories (against 60 in 2009), the "top 15" includes major powers such as Switzerland, the UK, some U.S. states or Japan."So many countries without the latest list of the OECD," says the report, which estimates the G20 unable to "publish a list of tax havens", "for the simple reason that the member states account for only 39% of opacity internationally. "

The French Presidency of the G20 had flirted with the idea to reconstruct a list of tax havens at a summit in Cannes (southeast), based on evaluations conducted by Global Tax Forum, which includes more than one hundred countries under the leadership the OECD. But it seems to have abandoned, the report said. "Failure to list worthy of the name, without considering the corresponding sanctions, states the G20 would come to Cannes without a weapon against offshore finance," insisted the NGO.It therefore calls on the French presidency "to advance concrete proposals" to strengthen the control of multinational corporations, end front companies and strengthen penalties against financial crime.

In 2012 Greek GDP would shrink 2.5% forecast of the budget. The fourth consecutive year of recession in the country. Greece in the storm

Greece is expected to cross its fourth consecutive year of recession in 2012, the gross domestic product (GDP) to contract by Greece to 2.5% over the year, according to forecasts in the pre-2012 draft budget, submitted Monday to Parliament. "Due to the further consolidation of the Greek economy and the major recession of 2011, with an expected contraction of GDP of 5.5%, the pace of the economy should continue to be negative in 2012 before a recovery expected in 2013, "the official text. In 2010, the contraction of the Greek GDP was 4.5% after 2% in 2009.

The continued contraction is a consequence of the decline in domestic demand and private consumption must fall further to -3.8% (current prices) in 2011 against 6.2% and 4.5% in 2010 according to the pre-project. "Private consumption at stable prices to fall by more than 6% because of reduced income and rising unemployment", which must reach an average of 16.4% in 2012 against 15.2% expected on the 2011, and 11.9% in 2010.

However, inflation has declined substantially, the harmonized price index should reach 0.6% in 2012 against 2.8% in 2011 and 4.7% in 2010. Similarly, exports should grow by 6.4% against 3.9% in 2011 and 3.8% in 2010. According to the pre-draft budget, "General government debt has to go to 172.7% of GDP to 161.8% against 371.920 billion planned for late 2011 (356.520 billion).

In 2011, the debt service will be $ 16.3 billion and 17.9 billion in 2012. The text was approved Sunday night during a marathon meeting of the Council of Ministers, under the leadership of Prime Minister George Papandreou, who also gave the green light to the introduction of unemployment for 30,000 public sector employees extended by the end of 2011. This is to reduce public spending and reduce the country's deficit, which is 8.5% of GDP in 2011 according to the pre-budget against 10.5% in 2010.

For 2012, the deficit should reach 6.8% of GDP. The draft budget has been scrutinized by representatives of the troika, representatives of the European Union, European Central Bank and the International Monetary Fund.The Troika visit to Athens, which continues this week, is part of the Greek regular audit of accounts before payment of the sixth tranche of the loan International 2010, scheduled for mid-October.

From June to August, the number of housing starts rose by 8%, while the increase was still 35.5% in the first half. But the outlook is not good. An employee on a construction site offices and housing in Marseille.

The rebound Summer housing will be nine-lived. Indeed, despite a better than in August 2010, the pace of recovery in new residential construction is slowing, according to official figures for the first eight months of the year. "The sky darkened on the sector as the recovery is in the process of disappearing," says to AFP Mouillart Michel, professor of economics at the University of Paris West.

From June to August, the number of housing starts amounted to only 74,646, an increase of only 8.1% over the same period a year earlier. While the growth rate was still 35.5% in the first quarter.Over the last twelve me, the number of starts, with 350,991 housing starts, an increase of 19.2% over the previous twelve months. Result: The year 2011 should be completed below 360,000 housing starts that were previously hoped for, still far from strong year in 2007 (415,000), the last before the crisis, Mr. Mouillart prognosis.

Yet in August, with 24,002 housing starts rose by 17.9% over last year. "But apart in 2010, we must return to 2002 to find a low in August as" notes Mr. Mouillart.

Corsica, Normandy and Poitou-Charentes in the "red"

By region, the situation is very mixed.While housing starts rose sharply over 12 months in Rhone-Alpes (30.0%), Aquitaine (26.2%), Champagne-Ardenne (24.2%) and Midi-Pyrenees ( 20.7%), some others have already slipped into the "red" as the Corsica (-5.8%), Basse-Normandie (-1.7%), Haute-Normandie (-0.5%) and Poitou-Charentes (-0.3%).

Concern also for building permits that have reached 116,397 units from June to August, an increase over one year of only 9.8% to 427,456. Again in August, with 36,650 permits filed, 14.4% is higher than in 2010. But it is the area of ​​house, the middle classes that often become homeowners for the first time, that worries the most. With 10,689 permits, it is even decreased by 6.4% over August 2010. "Except in 2008, we must go back to 1998 to find such a bad August for building permits for individual homes pure," said Mr.Mouillart.

"INSEE showed the concern of households on employment and purchasing power. In addition, part of the wealth of these households took off in the stock market crisis," said the expert. Announcements of the increase in the taxation of real estate capital gains on second homes and rental investments (the device says "Scellier") may also contribute to a possible trend reversal. These will inflict the same next year a new look in "plane" on the rate of tax reduction.

Another fear: a shortage of mortgages from the banks affected by the debt crisis of the states. The Secretary of State for Housing, Benoist Appeared, yet remains optimistic.He says that the numbers of housing starts this summer, "a result of market recovery which began at the end of 2009 after the crisis," lie "to the middle level of the previous decade." "Anything can happen after the announcements on Wednesday when presenting the budget 2012: a consolidation of the sector or a decrease," said Mr. Mouillart.

The Tokyo Stock Exchange ended up 1.18% Thursday on hopes of a Fed intervention to support the U.S. economy and the figures of Chinese manufacturing.

The Nikkei gained 105.60 points to 9060.80, to lift them above the threshold of 9000 points for the first time in two weeks.

The Topix, broader took 7.68 points (1.0%) to 778.28.

The official PMI purchasing managers released Thursday in China rose to 50.9 in August against 50.7 in July (consensus: 51), just above the threshold of 50, which separates growth from contraction .

"The PMI China gave immediate relief to the market, but the U.S. indicators, particularly employment figures, are still before us," tempers Yutaka Shiraki, equity strategist at Morgan Stanley Mitsubishi UFJ Securities.

Investors await Thursday's U.S. ISM manufacturing index (1400 GMT) before the numbers of non-farm private employment Friday.These indicators should provide a more accurate diagnosis of the health of the U.S. economy and the chances of new support measures from the Federal Reserve.

The director of banking markets of Tokyo-Mitsubishi, however, considered unlikely that a new round of quantitative easing (EQ3) intervene during the month, and said to expect that the volatility in financial markets persists a time.

The Japan Automobile Dealers Association for its part, reported Thursday a 25.5% drop in auto sales (excluding minivéhicules) in August from a year earlier.

Nissan, which saw a decrease of 24.7% of sales, closed up 2.58%.Toyota Motor, whose sales fell off Lexus 24.4%, gained 0.73%.

Honda, whose sales fell by 44.1%, however, closed up 3.35%.