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The German E.ON and Hydrocop Concessions, a small group of eight French distributors of energy, announced Monday an alliance to win the hydroelectric concessions that France decided to open to competition.

E.ON seeks to expand its presence in renewable energy since Germany has announced its withdrawal from nuclear. The group plans to spend $ 7 billion in this direction over the next five years.

At the request of Brussels, France is preparing his side to open up to competition dominated field by EDF launching tenders for the renewal of concessions of ten hydropower.

The tenders should initially be made on a case by case basis between 2010 and 2013, and the concessions to be granted between 2013 and 2015. But none of the appeals process for applications has not yet started.

"We are late," said a spokesman for the Department of Ecology, adding that the ministry was trying to recruit consultants to finalize the specifications.

The European Union has asked France to open 20% of its hydroelectric plants to competition. The concessions are to be renewed in the Alps, the Pyrenees and central France.

Hydroelectric capacity of France, which reached about 23,500 MW, is now managed by EDF – which operates 85% of facilities in the country – and GDF Suez, which has said it wants to increase its share market sector.

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The Competition Commission (Competition Commission) Switzerland announced Friday the opening of an investigation of several international banks suspected of having entered into agreements to influence interbank reference rate and marketing of certain products.

The Competition Commission said in a statement that an institution is denounced by stating that several banks have influenced the benchmark Libor (London Interbank Offered Rate) and Tibor (Tokyo Interbank Offered Rate ) for certain currencies.

Libor is used worldwide as a benchmark to set rates on transactions whose total amount is estimated at 350,000 billion. 

The slightest change in these rates calculated daily based on data from a selected group of banks may have a significant impact on rates charged by banks.

"For these behaviors, traders could obtain a distortion of the reference rate in their favor," said the policeman of the competition in a statement.

The Competition Commission is also suspected that brokers will be concerted on the differences between the buying and selling (spreads) of derivatives products, allowing them to sell financial products to ; disadvantageous terms for their clients. 

Investigations of the Competition Commission with respect to 12 major European institutions, U.S. and Japanese: UBS and Credit Suisse, Bank of Tokyo-Mitsubishi, Citigroup, Deutsche Bank, HSBC, JP Morgan Chase, Mizuho Financial Group, Rabobank, Royal Bank of Scotland, Societe Generale and Sumitomo Mitsui Banking Corporation.

INVESTIGATIONS IN EUROPE AND THE United States

U.S. authorities, European and British also seeking banks have underestimated the interbank rates to reduce borrowing costs and try to ease market tensions during the financial crisis.

At the time, Libor rates had increased, but some had found that this increase was insufficient to reflect the actual prices in the interbank market. 

"We are in contact with the U.S. Department of Justice and the European Commission," said Reuters on Friday Olivier Schaller, Deputy Director of the Competition Commission. "Our focus for now on the problems appeared on the Swiss market. We're just beginning our investigation. "

" We take these surveys very seriously and cooperate fully with the authorities, "said a spokesman for UBS and Credit Suisse

. RBS have refused ; s to comment while no one was immediately available in other institutions for a position

……. .. Suspicions had already emerged in 2011 when a European asset manager sued a dozen international banks, accusing them of understanding to manipulate Libor …… Charles Schwab Corp.

… has also instituted proceedings against eleven major banks for the same reasons. 

In July, UBS announced it had granted immunity in a case of suspected manipulations to Libor in exchange for his cooperation with certain authorities.

The debt swap proposed by Greece to its private creditors can reduce more than one third the country's budget deficit next year to reduce it to 5.4% of GDP if it goes smoothly, show Friday the proposed final budget submitted to parliament.

The text states that the exchange, a key component of the plan to reduce government debt developed by the European Union and the International Monetary Fund (IMF), would be to exchange 200 billion of existing bonds against 70 billion euros of new shares and 30 billion euros of cash payments to creditors who will accept it.

It is therefore equivalent to the creditors to agree a 50% loss on their receivables.

Without trade, the deficit would reach 6.7% of gross domestic product next year against 9.0% this year.

"After a history of steady growth, the evolution of public debt will now be reversed," he told MEPs Finance Minister Evangelos Venizelos, in the budget.

"Now the path is a reduction of public debt to alleviate the burden on the shoulders of the Greeks."

The draft budget for 2012 will be initially discussed in committee next week, the plenary vote is scheduled on December 7.

Interest rates Italian debt to 10 years have passed the psychological threshold of 6% to 6.06%. Concerns focus on capacity from Rome to take charge of its massive debt of 1,900 billion euros. Asian stock markets closed sharply down Monday, August 8, 2011. The Tokyo Stock Exchange lost 2.9%, Shanghai 3.79%, Sydney 2.9%, 3.82% Seoul, Hong Kong 2.11%. The Bombay Stock Exchange, she fell to its lowest since 2010 (-3%).

The cost of financing the huge debt of Italy also rose Friday on the issue of 7.935 billion euros of bonds and long term, despite the Europe Agreement in an attempt to stem the debt crisis , announced the Bank of Italy.

Put into a corner by its European partners, the Italian prime minister Silvio Berlusconi has also pledged to adopt by November 15 a plan of action to boost growth and reduce debt. But investors, who doubt the credibility of a government weakened and divided, are still not reassured by Italy with a huge debt reached about 1,900 billion euros (about 120% of GDP).

The Dexia share has been extremely turbulent Monday afternoon at the resumption of trading on the Stock Exchange after the announcement of the terms of the dismantling of the banking group, which includes a nationalization of the Belgian branch.

At 3:35 p.m., title, suspended since last Thursday, was spent in the green and gained 8.52% to 0.900 euro, in a volume of about 22 million pieces, after resuming its listing to 2:38 p.m. on a loss of 29% and have dropped to more than 36%.

Before the suspension, the share price to 0.845 Euro.

With speculation about his difficulties, Dexia saw its stock drop about 45% since September 28 – session that followed a board in which had been considered the possibilities of strengthening the Group's balance sheet.

This represents a $ 1.3 billion market capitalization that has vanished in a dozen days.

Monday morning, after a board of about noon, the bank approved the nationalization of the Belgian operations, and the principle of a sale of the Luxembourg subsidiary and backing activities financing of local authorities in French Caisse des Depots (CDC).

Accor announced Wednesday an increase in operating income in the first half in line with the expectations for an acceleration of its business and cost control.

The first European hotel group also reported in a statement of continued positive trends in July despite a less favorable base effect in the first half.

"Trends in the second half are carried by the strong performance of the summer," said he.

Operating income stood at six-monthly 199 million euros, up 44% at constant scope and exchange rates.

The group does not provide forecasts for operating income for the year.

Accor shares closed up 0.98% to 23.115 euros on Tuesday, giving a market capitalization of 5.24 billion. It has lost 30.6% since the beginning of the year.

European shares resumed some colors Monday after falling last week, but investors looking for defensive stocks in particular, illustrating the wisdom of the market in anticipation of the Jackson Hole speech of the President of the Federal Reserve on Friday.

At 12:45, the CAC 40 index rose 1.4% to 3059.29 points, after opening down 0.9% below 3,000 points. The benchmark index of the Paris, which fell more than 6% Friday, but still acknowledges a decline of nearly 17% since the beginning of the month.

"The market is a bit difficult to read today. We see that these are defensive sectors that take the trend (pharmaceuticals, utilities, telecommunications).Everyone is cautious Jackson Hole, "said a stock dealer based in Paris.

The pharmacy and earns 2.46%, highest growth sector, Sanofi clinching 3.3%, 3.7% GlaxoSmithKline and Novartis 3.17%. Utilities increased by 1.6% (2.18% for EDF, 2.8% for Italian A2A) and telecoms advance 1.4%, driven by TeliaSonera (+3.1%).

The bank will also resume after falling last week, the Stoxx banking sector index was up 0.21% after dropping 3.26% over the previous five sessions. Societe Generale gained 1.29%, 4% Dexia and Sanpaolo Intesa 2.83%.

INVESTOR SHARED

However, the automotive sector is hit by fears of a relapse into recession in developed countries.The sector index (-1.27%) charged down the only sector in Europe, bringing to nearly 29% its decline since the beginning of the month. Renault and Michelin lost 1.24% and 1% in Paris, while Volkswagen sells 1.5% in Frankfurt.

"Investors are shared by two tests: one party hopes that a rebound during the week after the violent downward spiral, while the other prefers to remain cautious, fearing a further fall of the indices," says Saxo Bank in a letter mail.

Other major European markets, London and Frankfurt gained 1.9% 0.49%. Milan, which lost more than 1% in early trade, ahead of 2.57%.Of the European indices, the EuroStoxx 50 rose 1.4% and 1.3% Eurofirst 300.

Illustrating the persistence of investor uncertainty, gold has hit a new record near $ 1,900 an ounce (at 1894.10 dollars) before falling to 1880.49 dollars.The metal end earns about 16% since late July.

"We are suspicious about the validity of the figures turning (double troughs) forming on the clues and prefer to maintain our negative view on equity markets, although the dollar shows no sign of strength for the moment," said however Valerie Gastaldy, an analyst at Day By Day graphic.

The euro also rose against the greenback at 1.4429 dollars (0.43%).

The gap continues to widen between the barrel of U.S. light crude, up 0.94% to 83.03 dollars and Brent, who drops 1.16% to 107.36 dollars, while the end looms conflict in Libya and a possible resumption of oil exports of the country.

Wall Street opened sharply lower Thursday, weighed down by fears of contagion from the crisis of European debt to U.S. banks and the threat of a relapse of the economy after the disappointing figures on the employment front United States.

In early trade, the Dow gave 2.45% (281.13 points) to 11,129.73 points. The Standard & Poor's 500 broad, abandoned 2.51% (30.72 points) to 1163.17 points while the Nasdaq composite market lost 3.22% (80.29 points) to 2430.32 points.

Facing the room nervously, the New York Stock Exchange NYSE and Amex Cash Markets announced shortly before the bell they would invoke Rule 48, which allows information to suspend the course to ensure a smooth opening.This rule is sought only when there is a risk of extreme market volatility.

The macroeconomic picture was further clouded Thursday after jobless claims in the U.S. rose more than expected last week to 408,000, while economists surveyed had forecast 400,000.

In addition, Morgan Stanley lowered its growth forecasts for the global economy for the years 2011 and 2012, the revision is stronger for developed countries.

Wall Street is also hit by concerns surrounding the U.S. banking sector.

The Wall Street Journal reported Thursday that the Federal Reserve Bank of New York accentuated his investigations on the U.S. subsidiaries of major European banks, fearing that the debt crisis in Europe will be transmitted to the U.S. economy through them.

Around 1:35 p.m. GMT, the S & P financials unscrewing of 3.51%, while the KBW bank index fell 3.3%.

Bank of America, JPMorgan Chase, Goldman Sachs and Morgan Stanley posted declines of between 3.33% and 6.43%.

In this context aversion to risky assets, gold hit a new record of 1,817.90 dollars an ounce.

Taking advantage of the announcement of quarterly results of his media empire NewsCorp, Rupert Murdoch yesterday appointed its Chief Operating Officer, Chase Carey, to replace the senior management if necessary.

This dubbing suggests that James Murdoch, son of tycoon 80 years, would now be marginalized within the group, after the scandal of wiretapping occurred in the branch of British newspapers, especially the tabloid News of the World, which since been discontinued.

Speaking at a conference about the results for the fourth quarter of NewsCorp, Rupert Murdoch, however, be assured, as Chase Carey, "confidence" in James.

The turnover of NewsCorp increased 11% to 8.96 billion dollars, supported by advertising revenue and subscriptions to its cable channels.

Net income fell to $ 683 million, or 26 cents a share, against 875 million and 33 cents a year earlier.

Earnings from continuing operations, however, is up to 982 million dollars against 902 million a year ago.

The title NewsCorp closed Wednesday down significantly from 5.77% to 13.71 dollars, underperforming the Nasdaq, which yielded 4.09%.

Rupert Murdoch also said the board wanted the group is left of the CEO, despite questions about its management raised by the scandal in the UK, which led to the resignation of several senior officers and The arrest of former employees.

"The board and I think I keep my current role as president and CEO, but be sure that Chase Carey and I manage the company as a team, and that the improvement of our results demonstrates the strength of this partnership, "said Rupert Murdoch.

"On News of the World, I am personally committed to rectifying the situation," he added, saying also disappointed that NewsCorp had to abandon his bid for the chain BSkyB because of this case.

APRR said Wednesday it posted a traffic decrease of 0.8% in the second quarter 2011, impacted by the decline in light vehicle traffic.

In a statement, the operator specifies that the highway truck traffic increased 3.6% over the period while that of light vehicles fell by 1.6%.

The group suffered an unfavorable comparison effect after the second quarter of 2010 particularly suitable for motorway traffic.

"April 2010 had actually been a particularly high traffic with a prolonged strike at the SNCF, disruptions in air traffic related to the Icelandic volcano and good snow conditions in the Alps, unlike in April 2011, "noted APRR.

Turnover excluding construction spring up 2.7% to 504.8 million euros.

At the Paris Stock Exchange, before the publication of these figures, the action APRR finished 46.85 euros, down 0.32%.