The specialist geophysical services and equipment for the oil industry recorded a utilization rate of the fleet marine marked improvement, while Sercel, its subsidiary specialized in the production of geophysical equipment, has reported a significant increase sales of land equipment.

"Our results have improved significantly this quarter. They are excellent for Sercel.

"(…) The offer was unacceptable because it would have resulted in the modification of all control clauses, which would have wanted to cause the end of Saab, "he told Reuters at Victor Muller of a telephone interview.

Thursday, Swedish Automotive received a lifeline from North Capital, an investment fund and U.S. hedge fund manager, who made $ 10 million in capital and a loan of 60 million to fund activities Saab.

After opening down more than 10%, the Swedish Automobile action, very volatile, losing to 8:50 GMT, 2.35% to 0.83 euro. Since the beginning of the year, it fell some 75% due to severe cash flow problems of the group.

Victor Muller did not disclose the amount of the offer of two Chinese manufacturers, adding that they were still interested in Saab, they must abide by the terms of the agreement signed in July, stating that they all take 53.9% stake in Swedish Automobile.

Saab went from crisis to crisis this year. It closed in April, unable to pay its suppliers to whom he owes more than 150 million euros.In August, it was no longer able to pay salaries.

Saab was bought by the Dutch Spyker, now Swedish Automobile, General Motors in early 2010.

Since 21 September, Saab has been under the protection of its creditors pending bailout Youngman and Pang Da, who had committed 245 million euros in July.

SAAB can be profitable

A Swedish court has said that he had received a request for release of Saab's system of protection for creditors.

This prospect does not frighten Mascioli Alex, an avid race car, which confirmed to Reuters that his company North Street Capital LP was well invest $ 70 million for Saab to continue operating.

"I expect that the transaction is done. I am ready to do what I can with my resources for Saab," he said by telephone.

The Swedish court said it did not decide on Saab on Friday, adding that he would decide on the reorganization of the manufacturer at the end of next week, at least before a meeting of creditors scheduled October 31 .

Victor Muller said that the Swedish government was not interested in buying Saab.

"There's always a plan B," he said when he was asked what would happen if Chinese automakers abandoned their project.Asked about the plan, Victor Muller said he would reveal "only if we use them."

"It was Victor decide. He struggled a lot to try to save the company. For now, there is an agreement with the Chinese," said Alex Mascioli for his part in response to the question of whether he was willing to invest in the place of Youngman and Pang Da.

Saab is an undervalued asset that will survive and which could generate profits, Mascioli Alex continued, adding that North Street could afford to take Saab if the manufacturer wanted.

The issue of recapitalization of banks is a major enrolled in the agenda of the EU summit scheduled for Sunday, expected to make a comprehensive response to the debt crisis.

"Thank God it's not as high as suggested by the media.What is needed for the recapitalization is about 100 billion (euros), "said Maria Fekter at a conference.

Banking sources and the European Union had earlier told Reuters it would take 90 to 100 billion euros to recapitalize banks in the EU.

This amount, which is the subject of an agreement on the part of Twenty-Seven, should cover about sixty of the largest banks in the EU, the sources said.

"The amount was discussed by member states, it is now acceptable for everyone," said a source told Reuters the EU.

"The amount could exceed 90 billion euros," said a banking source.

The envelope must be added to the 50 billion already raised by European banks over the period from January to April and the funds raised on the market for which the sum is not yet precisely known.

Sovereign debt valued in "MARK TO MARKET"

It takes into account a requirement of capital adequacy ratio "core tier one" of 9% and retains the same definition of this ratio as that used in the last series of stress tests in July, despite protests from some countries.

Germany will for example not allowed to consider in its bank holdings "silent" they hold in other institutions and, in the same way, Spain will not recognize additional reserves of capital that Bank of Spain requires national banks.

As expected, the amount also takes into account a value to market value of sovereign debt held by banks.

This exercise of "mark to market" will cover not only the securities issued by the peripheral countries of the euro area but also those known as the center, who sometimes treat the secondary market at above face value, as the case for German Bunds.

"There is no reason that we inflicted only the negative aspects of this exercise without taking into account the positive aspects," said one source, but said it would have a positive impact on the envelope eventually required for such recapitalization.

This amount must now be discussed by finance ministers and between heads of state and government of the euro area and EU, who meet from Friday to Sunday in Brussels.

"The Commission staff are conducting a general review of index funds including on the sufficiency of the information provided to investors, the levels of liquidity and transparency of the underlying instruments in which the index products (FTE) invest, the accuracy valuations, the effectiveness of arbitration and the relationship between market volatility and FTEs, "said Eileen Rominger, Director of the Division of Investment Management at the SEC.

According to the text of a planned intervention Wednesday before members of Congress, the official stressed that the survey also aims to "gather and analyze detailed data on specific products."

This assessment is the second SEC investigation related to investment companies, after the commission decided in August to gather opinions on the potential risks of the use of derivatives by mutual funds ("mutual funds' ), ETFs and other structured funds.

ETFs, such as those managed by BlackRock, State Street and Vanguard Group, are financial products reproducing the weighting of an index and therefore its performance.Since their introduction in the 1990s, they took off to about 1,000 billion in assets (724.7 billion euros).

However, certain types of incidents and some ETF market, as the "flash crash" ('flash crash') of 6 May 2010, have fueled concerns of regulators, who fear that these index funds do not contribute to volatility markets and pose problems for the less informed investors.

During the 'flash crash', for example, ETFs have experienced massive changes in the meeting and represented 70% of aborted transactions.This incident prompted the SEC and stock exchange operators to set up a system of "circuit breaker".

The SEC also began to focus on leveraged ETF, used to multiply the gains, ETF and reversed, that achieve the performance opposite to that of the underlying index.

Thefts from shops are starting to rebound in France between the mid-2010 and mid-2011, rising 2.9% in value, according to a study published Tuesday, pointing a "professionalization" of shoplifting .The study, conducted in 43 countries by the Centre for Research in the distribution (Center for Retail Research, based in England) from 1187 groups to the security company Checkpoint Systems, as the "shrink", that is ie the difference between theoretical and actual stocks, resulting from theft, but also of administrative errors or suppliers.

In France, the bill for the distributors is rising again, to reconnect with a sum amounting to two years ago, 4.9 billion euros, or 1.40% of turnover, against 4.7 billion euros, or 1.36% of sales a year ago. The equivalent, according to the study of an annual tax of 200 euros per household. Retailers believe that the flights are 44% committed by customers, 30.1% and 7.2% staff from suppliers.

The shoplifting is becoming more professional

"Thieves better information more easily thwart the standard features of security and those who get caught are the thieves who are casual, with smaller amounts," he told AFP Cedric Brossard, marketing director for the textile division of Europe Checkpoint Systems. "There is a professionalization of the flight," which becomes "a real job for some people with real orders," he said, citing "a lot of distributors who believe they have experienced an increase in organized crime." "Whenever there is a new product, it may generate a black market," he added.Conversely, he does not think that inflation on food products has had a significant impact on the increase in theft, noting for example that the coffee was already one of the most stolen.

In Europe, the thefts have increased more strongly than in France, 7.8%, but to a lesser extent, or 1.39% of sales of 36.23 billion euros. The average amount of shoplifting it was down 17.5% to 93.85 euros and the flight staff down 27% to 1,381.4 euros. Globally, the flights were up 6.6% to 88.88 billion euros, or 1.45% of sales distributors, against 1.36% a year ahead. Always at the center of envy, products expensive brands and smaller, easier to conceal and to spare."The flights do not give priority to basic necessities," the study said.

Fashion accessories among the most stolen

Among the most stolen items, fashion accessories, food products high-end such as meals and spirits, articles health / beauty products such as shaving and perfume, or technology products, such as MP3 players and smartphones. In Europe, the increase in shrinkage occurred despite an increase of almost 2% to 8.45 billion euros in spending on security and loss prevention, or 0.30% of turnover Distributors. "Those who have limited or theft managed to bring it down have introduced a multitude of solutions, unfortunately there is not a quick fix," said Mr. Brossard.The number of shoplifters and dishonest employees arrested by the distributors of the year under review exceeded 6 million, according to the study.

Prime Minister Francois Fillon said on Thursday it would move to a retirement age of communication between France and Germany, where the legal age of retirement has to go in the coming years from 65 to 67 years . Referring to the "convergence" between the two countries tax the Prime Minister came out of his speech Thursday at the awards ceremony of the creative audacity to Matignon to engage in a plea for a reconciliation of working hours and the age of retirement between the two countries.

"It will take time to go to a joint work, we must move towards a common retirement age, it will move towards a gradual convergence of economic and social organization in both countries because it is the key to survival and the development of the euro area and the European continent, "warned Mr Fillon, without elaborating.

The retirement age in Germany will rise gradually from 65 to 67 years under a reform passed in 2007 and intended to prevent the collapse of a system challenged by life expectancy and an ever-growing shrinking of the workforce. The decline in retirement age will, however, very gradually, reaching actually 67 years around 2030.

French pension reform, enacted in June 2011, provides a decline of 60 to 62 the legal age of retirement.

Banks are again in the first line, after a report in the Financial Times that the German group Siemens withdrew 500 million euros in a major French bank to transfer them to the European Central Bank (ECB) two weeks ago .

At 9:07, the CAC 40 index down 0.33% to 2930.23 points.

The London Stock Exchange lost 0.47%, 0.22% Frankfurt and Milan 1.05%.

The Euro Stoxx 50 was down 0.27%.

He also assured that the group's ability to pass through price increases and cost increases of raw materials, natural rubber head was intact.

Michel Rollier noted as such the increase of 4% to 6.5% in Canada on Tuesday announced the prices of passenger and light truck tires.

"Today, our sensors show that sales are conducted properly in accordance with our expectations, sales of winter tires are good," he said during a press lunch."We do not currently an indicator of deterioration."

"We know there are a number of macroeconomic threats, Greece first," he said. "In this case we know that it will be brutal but we will react very quickly."

Michelin intends to build on the experience gained during the 2009 crisis, including the use of a very regular control of the activity of all plants.

Michel Rollier confirmed the target of an increase around 8% of sales volume and operating income growth from one year to another.

These words, delivered Saturday at the annual meetings of Jackson Hole (Wyoming), have followed a remarkable response from the Executive Director of the International Monetary Fund (IMF) Christine Lagarde, who has warned against the risk of the global economy plunging into recession and called for a rapid and coordinated political action, particularly through a recapitalization of banks.

"We believe that the very solid anchoring of inflation expectations is our one of our major assets," said Jean Claude Trichet, who did not mention in his address the crisis of sovereign debt in the euro zone or prospects for the policy of the ECB.

"This is something we consider absolutely essential to trust," he added, saying that confidence was useful in a difficult environment to help maintain growth.

The European Central Bank will adjust its monetary policy unconventional specific problems it faces, said the head of the institution in Frankfurt.

"The use of unconventional measures depends on the operation of the transmission of monetary policy and must be proportionate to the level of malfunction or interruption of money and capital markets or market segments," he said.

Jean-Claude Trichet echoed the comments of Christine Lagarde, that the upheavals of the political process in Europe increases the uncertainty.

"Paradoxically, we – as a group, as a whole – are not necessarily being in trouble because our fundamentals are very bad. Our fundamentals are very bad.The problem is that we have created difficulties in our governance, "he said.

"SLOWDOWN DOES NOT MEAN RECESSION"

Austria's Ewald Nowotny, a member of the Governing Council of the ECB and also present in Jackson Hole, said in turn that there was no reason to believe that inflation expectations had increased.

"What we see is that inflation expectations are stable," he told news agency Bloomberg.

"At the moment, when I look at oil prices and demand, I see no specific problem that could contribute to an increase in inflation expectations."

These comments suggest that the ECB has a mandate to keep inflation just below 2%, could keep its rates unchanged after two successive increases this year.

To the Governor of the Austrian National Bank, "the prospect of growth is intact" in the euro area and provide a solid foundation for next year.

"Even if there is a slowdown, it does not mean that there is recession," he said to Bloomberg, saying not to believe that the interbank lending market was moving towards paralysis, as in 2008 after Lehman Brothers.

"We should not overstate the situation (…) We are far from a situation like after Lehman.It's something to watch, but not an immediate challenge. "

Earlier this month, Ewald Nowotny was found that the surge in bank deposits with the European Central Bank was worrying, but warned that the economic situation in the euro area had not changed overnight.