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Lower rates of acquisition of PV by EDF, freezing of projects for three months and especially the establishment of a regulated market cap to 500 megawatts (MW) per year … Following this battery of policy measures taken during February to limit the cost deemed too high for the state of development of pho ¬ tovoltaïque, industry has been plunged into turmoil. Arnaud Mine, chairman of the board SOLER, an offshoot of the Union of Renewable Energy (SRE), and head of the company Urbasolar, sounding the alarm. For him, the survival of the industry is threatened.

What is the impact of new rules imposed by the government on employment in the solar industry?

We have suffered enormously since the beginning of the year.Between 5000 and 6000 jobs have disappeared in the areas of installation, ingiénérie and studies, which must be added thousands of layoffs in the upstream sector – that is all that concerns the production of cells or solar panels. It is therefore very heavy losses, knowing that the end of 2010, the photovoltaic industry were just over 25,000 jobs in France.

Although not directly involved in government reform, it appears that the residential sector is particularly in the red …

Yes, this industry has seen its business halved since early 2011. In fact, she has suffered a sharp decline in demand as a result of very poor communication unduly orchestrated by the state since late 2010. Clearly, the operators in this segment have seen their order books melt.And many of them had put the key under the door, or have been forced to develop social plans

Why is the annual limit of 500 MW for the French market is there a threat to the industry?

Because we believe that 1000 MW is the market level necessary for development of industry in France. Especially on the 500 MW, 300 MW will be exclusively concerned with calls for tenders, including the response time is six months minimum under EU law.This means that some companies have no visibility into their order books until February 2012 to better Or that their turnover in 2011 is only upon six months' activity! Clearly, if nothing is done, the bleeding will be considerable by the end of the year …

Have you expressed your concerns to the government?

Yes, we sent a letter to Nathalie Kosciusko-Morizet [Minister of Ecology, ed] and Eric Besson [Industry Minister]. I hope we will find appropriate support measures. But frankly, it's been two years that dialogue is impossible.It is time to restore a benevolent listening with ministerial offices concerned …

While the cost of solar energy continues to decline and foreign investments to go crescendo, this industry would not it be more focus on international, not to depend exclusively on a French market now limited?

Indeed, the cost of photovoltaics continues to decline and the development prospects of solar energy in the world are substantial: the annual global market has more than doubled in 2010 with 16,700 MW installed. And forecasts for 2011 amounted to 21,300 MW, which corresponds to a turnover of around 60 billion euros. But to massively expand internationally, SMEs French first need a stable and sustainable domestic market. Which, for now, is far from true.

Apprentices globetrotters, candidates to succeed Dominique Strauss-Kahn to head the International Monetary Fund campaigning. Christine Lagarde, French Minister of Economy, is a party favorite, despite its possible implementation issue in Tapie. The director of the Central Bank of Mexico, Agustin Carstens, has assumed the role of challenger, while the Kazakh Grigory Marshenko made up the numbers. Entries close an Friday. Late candidates are not excluded.

The three known candidates trying to woo voters who count: the big countries like China, Brazil or India. These voters are still undecided, or cleverly conceal their preference. Reviewing the arguments made by candidates to win their votes.

Christine Lagarde: a policy ready for use.

Christine Lagarde. Photo credits: LIU JIN / AFP

The CAC 40 is unable to remain in positive territory. On Wednesday, the benchmark index in Paris opens on a decline of 0.37% to 3857.65 points. Even bad mood: the London Stock Exchange opened down 0.19% at 5853.42 points while in Frankfurt the Dax loose 0.38% to 7076.31 points in early trade.

Yesterday, the benchmark index beyond the Paris Bourse had managed to achieve a small rebound. But since the Fed has made comments that would again disturb operators, already worried by the weak U.S. economy. In a televised speech in Atlanta, its chairman Ben Bernanke said that economic growth across the Atlantic remained "desperately slow" and that it required the maintenance of a "monetary policy complacency." He said that "growth should recover somewhat in the second half, but remain generally moderate.Delivered just before the close of U.S. markets, the speech was the turning Wall Street into the red. And this morning, Asian stock markets also reacted negatively.

Furthermore, growth of the emerging world should rise from 7.3% in 2010 "to about 6.3% annually from 2011-2013," considers the Bank's global economic forecast published in Washington.

French record trade deficit

In this gloomy atmosphere, the markets will monitor several indicators, mainly European.

– In France, the trade deficit set a record high in April to 7.14 billion euros, against 5.91 billion in March, seasonally adjusted data, the Customs said Wednesday. Moreover, the deficit of state budget stood at 61.4 billion euros in late April against 56.2 billion a year earlier, according to data released Wednesday by the Budget Ministry.

– In Germany, exports fell 5.5% in April on a month and imports by 2.5% over the same period, according to preliminary data adjusted for seasonal and calendar published Wednesday by the Federal Statistics Office . German industrial production for April is also the rendezvous.

– Then comes the new reading of GDP in the euro zone's first quarter.

– United States, the weekly oil inventories will be published in late afternoon. Then 20 hours, the Fed will deliver the findings of its Beige Book.

Side currency, the euro remains stable against the greenback at 1.4672 dollar. Oil prices were, themselves, without direction in electronic trading in Asia in anticipation of an OPEC meeting in Vienna in the day that might decide to increase production.A barrel of light sweet crude for July delivery took 7 cents 99.16 dollars while that of Brent North Sea crude for delivery same retreated 48 cents to 116.30 dollars.

Values ​​to follow

Banks are generally rising: Natixis (0.34% to 3.59 euros), Credit Agricole (+0.10% to 10.34 euros) and BNP Paribas (+0.09% at 52.09 euros ) are among the only values ​​in the green early in the session.

PPR: -0.56% to 116.45 euros

The group announced it is extending its takeover offer for the American Volcom until June 16

Hermes: +0.03% to 187.70 euros, LVMH: -0.85% to 116.60 euros

The group returns to its highest in October 2010 and outperformed the other lasting values ​​of luxury in favor of speculation about a takeover at the end of the saddle by LVMH, which already owns more than 20% of a group supported by sustained growth .

Schneider Electric: -1.02% to 111.05 euros

The authority of U.S. markets, the SEC filed a complaint for insider trading around the offer of French Schneider Electric on the Spanish Telvent. According to a warning issued Tuesday on the website of the SEC, this crime would have allowed the authors to make a profit of about $ 475,000 in total through the sale of option contracts Telvent acquired before the announcement of massive Schneider's offer.

Renault: -1.73% to 36.90 euros

The decision of the Court of Appeal of Versailles on the possible recognition as an occupational accident suicide in February 2007 by Raymond D., employee Technocentre Renault in Guyancourt (Yvelines), is expected Thursday. The suicide of Raymond D.the third was an employee of the Technocentre in the space of four months between late 2006 and early 2007.

Belvedere: stable at 61.48 euros

After the decision of the Court of Appeal of Dijon, on Tuesday to confirm the cancellation of the safeguard procedure, the band announced that it "remains open to an agreement with its main creditors in the run to finish with a conflict that has lasted too long. "

NYSE Euronext: stable EUR 24.19

NYSE and Deutsche Börse have announced a special dividend of 2 euros per share for shareholders of the combined group

GDF Suez: -0.65% to 24.39 euros

Group CEO, Gerard Mestrallet, warned Tuesday against Montreal seduction exerted excessive public opinion renewables, noting in particular the high cost of wind power."These are intermittent energy sources that will require large reserve capacity, which will be based on natural gas because of the ease of use of gas turbines," he told the International Economic Forum of the Americas.

Total: -0.82% to 37.97 euros

The U.S. manufacturer SunPower solar panels, partial target of a takeover of French Total, raised its forecast Tuesday quarterly revenue but warned that its margins could suffer from falling prices.

Next recommendation, after Exane BNP Paris yesterday, Credit Suisse rose to "outperform" on the title Michelin (-0.03% to 63.77 euros). HSBC rose to overweight on Saft (+0.76% to 24.66 euros).

Please note that Air France-KLM will unveil its traffic in May. Valeo and Sopra hold their general meetings and Gifi publish the results of its second quarter after market close.

Click on the thumbnail to enlarge the graphic.

Falling unemployment, uninterrupted since the beginning of the year, as well as good growth figures (+1%) and business investment (+1.9%) in the first quarter, boosted morale frames. Between April and May, the total fertility rate fell from -38 to -25, gaining 13 points in a month. "It's the largest increase since January 2006", welcomes Francois Miquet-Marty, president of ViaVoice.

Two major phenomena are the cause of this improvement. On the one hand, executives are much less pessimistic in employment. They are more than 39% (-9 points) to provide an increase in unemployment over the coming months. By comparison, 74% a year ago.And 26% (+12 points) expect a decrease in the number of unemployed.

On the other hand, despite inflationary pressures observed, they are less worried regarding the evolution of living standards. Thus, 20% of executives (10 points) expect an improvement by one year. And though nearly one in two believes that living standards will deteriorate, they were 58% a month earlier Faxless payday loans.

Renewed confidence

Unemployment, living standards, but also personal financial situation, staff motivation, career opportunities, all the indicators are green. "The medium term outlook are essential because they reflect a return of confidence unprecedented for almost three years," said Francois Miquet-Marty.

Moreover, since last December, the institute has asked managers their views in ten French personalities (the list is the same).Only two of them, Franck Riboud (Danone) and Anne Lauvergeon (Areva) improve their image. "The CEO of Areva has been very present in the media in recent months because of the disaster in Fukushima, but all his efforts to convince Nicolas Sarkozy to renew it at the head of the group," notes Francois Miquet- Marty.

In contrast, after the case of industrial espionage at Renault, Carlos Ghosn has lost much of its credit.

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After Gmail, Yahoo! Mail and Hotmail have suffered the onslaught of Chinese hackers. This seems to have noticed the internet security company, Trend Micro, which on Friday denounced an attempted infiltration of the messaging services of the American giants Microsoft and Yahoo!

Like their competitor Google, which announced Wednesday that Gmail accounts of important personalities were visited, the two groups are therefore targeted by virtual attacks based on the monitoring of email accounts to their users. However, no details from Trend Micro on a possible targeting of victims of hackers. "While these attacks seem to have been conducted separately, they have significant similarities," said Nart Villeneuve, however, a specialist in computer attacks at Trend Micro.Indeed, if Gmail, the victims involved were journalists to Chinese dissidents, to military officials. Members of the U.S. administration to the White House, would have even been monitored by computer via their e-mails according to Google, although no official count has been reached. In total, several hundred accounts, now protected, have been visited no checking account payday advance.

Acts of "war"

No comment yet on the origin of the attack, but the similarities cited by officials of Trend Micro suggests that the track might be preferred. Thursday, Beijing has denied such abuses, once the spokesman for the White House has expressed its concern to China.However, Liang, the Chinese counterpart of the U.S. Secretary of Defense Robert Gates had to listen with an attentive ear the words of the latter during a trip to Singapore for a defense conference in Asia. "We take cyber threats very seriously," said Robert Gates has, but said seeing "various sources" and not just the 'one country or another. "

The leader also called for what is put in place an international code of conduct for the fight against cybercrime, and define acceptable actions. Sign of diplomatic tensions surrounding these actions, the U.S. secretary has not hesitated to describe certain behaviors computer "acts of war."

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Is his motto for several months. Whatsoever to the European Council or Parliament in Strasbourg, but also when it is received at the Academy of Moral Sciences in late March in Paris, Jean-Claude Trichet has consistently called for strengthening governance the euro area. But he preferred to use this technocratic terms of "quasi-fiscal federation," never the president of the ECB had expressed so clearly in favor of the creation of a Ministry of Finance Europe.

The story of recent months begs the question for the future. Since the Greek crisis erupted, there are thirteen months, the euro area increases – albeit in fits and starts and at the price of tense negotiations – towards greater financial integration.Establishment of a "European fiscal quarter, signing a pact for the euro to strengthen the competitiveness of economies, adoption first of a fund for financial stability, designed to lend urgency to the States in almost Bankruptcy-pending mid-2013 a European mechanism for stability (MES) Standing with 700 billion euros … From here to consider a Ministry of Finance in the euro zone, however there is a gap difficult to bridge. Evidenced by the very hostile reaction of the major countries in the eurozone at the idea of ​​the President of the Eurogroup Jean-Claude Juncker, create eurobonds to be issued by an agency of the European debt.

A few months after leaving the institution to which he has given his pedigree in full meltdown, Jean-Claude Trichet also seeks, by giving political power at the center of the European game, to reconnect citizens with the euro.The crisis has forced the Frankfurt institution composed of members not elected to make decisions directly affecting the residents of the euro area. It is largely when the ECB has refused to accept the titles of Portuguese banks in return for its loans that the government of Jose Socrates was forced to request international assistance, in exchange for a drastic austerity plan. It is also the ECB weighs his weight so that private investors are not affected by a possible restructuring of the Greek debt, taking the risk of one day being criticized by public opinion for saving private interests at the expense States' public finances, that is to say taxpayers. After launching a cycle of rate hikes in March, Jean-Claude Trichet continues, therefore, facilitate the beginnings of his successor, pre-empting the debate that will inevitably arise in the coming months.

Usually the little straw markets – the farmers produce mainly for themselves – and not worth much. But the episode of extraordinary drought that occurred over recent weeks the agricultural sector is now giving him an unexpected value. Because as a result of lack of water, pasture or hay, which usually serve to feed the animals, are shrinking. In some departments, the authorities have even allowed farmers mowing road shoulders to get the grass.

A shortage that boosted demand for straw, used as a last resort by the farmers to feed their animals. "Straw is very poor nutritionally. Therefore it is mostly used in winter when other forage is less abundant.The drought pushed some farmers to type in their inventory now, at the risk of being caught off guard next year, "said Christian Huyghe, deputy scientific director at INRA. The fear of running out of straw in winter is pushing farmers to make reservations, making unusually higher prices.

Merchants straw batent campaign

"Given its low nutrient content, we believe that one ton of straw is worth no more than 25 euros," says Patrick Augustus, the union of grain AGPB. These days, she sometimes minting up to 60 euros. "In many departments, grain show solidarity, concluding contracts on the basis of prices below 20 euros.But it is true that merchants also straw struggling campaign, acquiring the straw around 40 euros per tonne in the hope of selling even more expensive in a few months, "says Philippe Pinta, vice president of the FNSEA.

Prices should still be soft this summer, when the marketing of the next harvest. "Given the drought, farmers who believe that harvesting the straw will have a lot less than they expected, predicts Patrick Augustus. And also as the grain will also see their incomes drop because they will get less grain, some might choose to catch up by selling straw at high prices. "

Transport cost

Photo credits: PASCAL Pavan / AFP