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The Chinese buy their first business aircraft generally opt for a top model, status symbol and able to provide several hours of comfortable flight above the vast e tense of the Celestial Empire, find manufacturers.

The largest business jets, whose price can reach up to $ 70 million to seven million against a small stream, saw their sales rise between 2008 and 2010 while the rest of the market plunged as a result of the financial crisis.

This trend is thus intended to accelerate with the average annual growth of 15% expected the Chinese market by the Canadian manufacturer Bombardier in 20 years, which would take him to 2,470 aircraft in 2030. 

"Chinese buyers plunge directly into the deep end," he told Reuters Stephen Taylor, director of Boeing Business Jets, at the business lounge Ebace held in Geneva until Wednesday.

He considered that large aircraft accounted for over half the Chinese market against 20% globally.

"Traditionally, we start with an entry level plane and a plane through, then a plane that can perform longer flights," said his side Reuters Ernest Edwards, Director Embraer's Executive Jets. "In China, it passes directly from nothing to a large airplane, almost nothing in between."

Cessna (Textron group), which estimates that the Chinese market will be the second in the world within 15 years, does not go wrong. The manufacturer, however, set to medium and light aircraft, this account was created at least three joint ventures with China's Avic, one of them will produce and market worldwide a large airplane size.

"When you have a population of 1.3 billion people and phenomenal growth opportunities, we must plan and invest for 15 years now – if you missed the boat" , told Reuters Ernest Scott, CEO of Cessna.

Ernest Edwards (Embraer) pretended to be amused by the enthusiasm of all nine other manufacturers.

"Embraer is not a novice in the Chinese market. Next year it will make 13 years that we are, we will already be teenagers! "He told Reuters

……. .. China, which had only about 150 jets in late 2011 against more than 11,000 in North America, attended a takeoff of aviation business for two years now, has he added, saying aim to term from 20 to 25% of the market

. Its rival Bombardier said hold 38% of Chinese market is more than its global average of 32%

. DESPERATELY SEEKING DRIVER

… Eldorado ….. universally recognized, the Chinese market, however, several major obstacles that hinder its development, such as control of most airports in the army. 

"If you are a Chinese citizen, you can take off from most airports if they have a Chinese driver, but if you have a foreign national on board, you have access s well as civil airports, "said Ernest Edwards (Embraer).

And if the market for business aircraft takes off as quickly as expected, the shortage of pilots, already real, is expected to increase despite the efforts of authority s to develop training courses.

"If you are a Chinese pilot, you probably prefer to use your license for larger aircraft," said Ernest Edwards. "Plus the unit is large, the better the pay."

"Train drivers and open airspace will not be enough", warns Brad Mottier, responsible for business aviation at GE Aviation. "The Chinese will also need to modernize their air traffic rules to create an environment conducive to rapid growth," he told Reuters.

All manufacturers are particularly attentive to the requirements of this rich clientele.

Dassault Aviation, which has delivered 12 Falcon in China in 2012 against eight in 2011, will open this summer a subsidiary with 25 people and a service center in Beijing.

"The Chinese are just beginning to get used to own a plane," he told Reuters Rodney Williams, commercial director of business aircraft at Bombardier. 

While some Chinese customers have asked to equip their aircraft with a karaoke or a table of my-jong, most opt ​​for home of simple, best candidates for a head of company that will visit its plants – far from the image of wanting to show off his flashy billionaire wealth.

"When you are thinking of buying a plane 31 or $ 32 million, your company must do a half billion dollars in revenue for this to be meaningful," said Ernest Edwards, Embraer .

"If the owner or CEO of this company is a billionaire, who knows? It never tries to learn both."

Hawker Beechcraft has emerged by the end of the year of its investment under the protection of Chapter 11 of U.S. bankruptcy law, after which its creditors become its main shareholders, said Sunday its CEO Shawn Vick.

The Boeing, co-owned by the private equity arm of Goldman Sachs and Onex, concluded on May 3 an agreement with its creditors for erasing about $ 2.5 billion in debt under Chapter 11, which aims to allow business to continue trading.

"This debt will no longer hamper our business," said Shawn Vick at a news conference at EBACE business aviation in Geneva.

"The procedure of Chapter 11 should not be confused with the liquidation or bankruptcy. There is too much value in Hawker Beechcraft for this to happen, "he said, denouncing the" misinformation "and" speculation "

. Shawn Vick

stressed that the group would continue to honor its orders and anticipated output of the procedure of Chapter 11 "before the end of the year" …

…… Goldman Sachs Capital Partners, the private equity funds of the bank, and Onex, the first Canadian company takeovers, had bought Raytheon Aircraft Raytheon in early 2007 and were renamed Hawker Beechcraft

. Under Chapter 11, the group of Wichita (Kansas) will have their money transferred to some of its creditors, Goldman Sachs and Onex retaining only a minority stake. 

Acquisition, made at the height of the bubble and in the hope of a growing market, came at the wrong time. The 2008 financial crisis and severe economic recession that ensued led to a fall in business jet deliveries of small and medium – the segment of choice Hawker Beechcraft.

Asked about a possible reduction in its range which would reduce the complexity of its production, said Shawn Vick Reuters that it was not the order of day.

"This company is more than capable of building many aircraft in all segments," he said.

Although it acknowledged that competitors had benefited from his troubles to him take market share, it highlighted a trend of more favorable order in 2011. 

He also expressed confidence in the ability to remain independent at Hawker Beechcraft:

"We have no other project to grow the company on a freelance basis," he said to Reuters. "That does not surprise if others were interested in the company, but more than able to stand on both feet."

The new French government has a very limited room for maneuver in fiscal policy due to "insecurity" of the economy and finance of the country, said ; Tuesday near the German Chancellor.

Peter Altmaier, charged with enforcing voting discipline within the Christian Democratic Party (CDU) Angela Merkel, said he was disappointed with the victory of socialist Francois Hollande to the presidential election in France but confident in the fact that the EU should continue to make debt reduction a priority.

"The economy of France and the country's finances remain in a precarious state," said Peter Altmaier to the press. 

"Any country that tries to pursue a policy of increasing its supply deficits would quickly back to the markets and interest rates would increase," he added ;. "There is no flexibility."

François Hollande promised during his campaign including increasing the minimum wage, create jobs in the field of education and return to the rising age of retirement.

Many analysts expect him to return part or all of these promises after conducting an audit of the finances of France, to be completed ; next month.

Peter Altmaier said he was confident that once the French parliamentary elections over, it would be possible for Berlin to reach a compromise with Paris to reaffirm "once and for all "that the reduction of budget deficits is the only way forward for Europe.

While patronnat is concerned about a downturn, unions undertake a standoff and claim 6.5% increase in wages, after fifteen years of freezing. The BMW company was hit by labor movements in Germany

Wage disputes are concentrated in Germany, where employees want to finally enjoy the fruits of 15 years of austerity facing employers who are concerned about a slowdown in the economy. In a ritual of the social agenda German IG Metall, which appears as the first union in the world, showed its muscle this week, organizing walkouts across the country who have gathered more than 160,000 employees. These demonstrations of workers wearing red hats or caps, hit the icons of the German model, such as Bosch, Siemens or BMW.  

Moreover the union negotiates for more than 3.5 million employees of metallurgy, machine tools, automotive or semiconductor, its counterpart in the Verdi services organized strikes involving 15,000 employees, Deutsche Telekom and do the same account in the bank (220,000 employees in question). "The pressure is the barometer of wage negotiations", welcomed the leader of IG Metall in North Rhine-Westphalia, where the industrial Ruhr Valley, Oliver Burkhard. "This clearly means that employers must move".

Of excessive wage increases "would weaken the companies, which some can not afford," said his side the boss of bosses of metallurgy, Martin Kannegiesser, while the latest indicators point to a clear slowdown in the industry. IG Metall demanded 6.5% increase in wages, but the final round of negotiations failed, the employers are not willing to grant that 3%. Company officials estimate that the German economy ate his white bread in 2010/2011 and will now suffer from the crisis in its European neighbors. "The industry has had very good results last year (and) the employees want their fair share," however, "the success of the German economy appears to be blunted," Analysis Hilmar Schneider, of the Research Institute on the Future of Work (Bonn).

Germany, with unemployment of only 7%, beginning to feel the effects of the crisis affecting its neighbors, although it continues to fare better. This year, the level of "claims is unusual, edged with a long period of 15 years of payroll deduction," said Eckart Tuchtfeld, labor market specialist at Commerzbank. Whatever the outcome of the standoff, "the agreements will be higher" than in previous years, he predicted, partly because of the 6.3% increase over two years obtained by two million employees of Public in April. "We feel that (the movement) is not just this year but there is a real turning to broader increases of 3% per year as against 1-2% before," said Mr. Tuchtfeld. He said the talks marked a turnaround for the unions who walked hand in hand with management, making concessions on wages to promote the competitiveness of companies in the name of the job.

Overall, "the power of employees is growing" skilled in many areas, where lack of manpower will increase due to the accelerated aging of the German population, abundant Warsewa Gunter, director of the Institute for work (Bremen University). However, "the German system of social negotiations can still get a result smart," he said. "The unions will not jeopardize the growth and productivity," he adds.

The idea put forward by the Socialist candidate is gaining ground. Mario Draghi, head of the ECB, also argues in favor of a pact to support the activity. But not necessarily with the same means … The PS candidate for president, Francois Hollande.

Just days after receiving the approval of several economists, François Hollande, the Socialist candidate for French Presidential Wednesday received unexpected European support in its application for a Growth Pact, and presented in the wake of his runways renegotiation of the treaty European budget.

"The day after the election, if I have received a mandate, I will address a memorandum to heads of state on the renegotiation of the Treaty" on European public finance, said Francois Hollande, given the polls largely winning the second round the presidential election to be held on May 6, against the incumbent President Nicolas Sarkozy.  

This treaty was signed in March after it was negotiated under the leadership of Angela Merkel torque-Nicolas Sarkozy. This is a text of strict budgetary discipline, which aims to end the debt crisis in the eurozone. The Socialist candidate, in the lead Sunday in the first round of the presidential election with 28.63% ahead of Nicolas Sarkozy (27.18%), pleads for weeks for a renegotiation of the text, in order to add a growth program .

"The serious budget yes, austerity in life, not," insists the Socialist candidate. The good surprise for Francois Hollande came Wednesday in Brussels. In front of MEPs, the President of the European Central Bank (ECB), Italy's Mario Draghi, has admitted that Europe was not sufficient for growth. "We have a budget pact (…), we must go back and make a pact for growth," he said.  

"Things are well advanced (…) ideas cheminent and the French vote is probably much," said Francois Hollande in Paris, during a press conference. And he detailed his proposals: "creation of eurobonds (European bonds, note), not to pool the debts but to finance industrial projects of infrastructure"; "liberate more funding opportunities for the European Investment Bank" (EIB), "creation of a tax on financial transactions"; mobilization "remnants of European structural funds not used today to support projects".

But it will convince the German chancellor, with whom he sees the "firm but friendly discussions". "Is that it may lead to clash? We are not there to create conflict, but not to cover different interpretations or dissimilar positions," he judged. Angela Merkel has kept his distance Wednesday with Francois Hollande, while recognizing the need to stimulate growth.

"We need growth and growth form of sustainable initiatives, not just economic programs – which still dig the debt – but growth, as Mario Draghi said today, as structural reforms, "she said. However, the leader of the euro zone, Luxembourg Prime Minister Jean-Claude Juncker, called in turn for a "growth strategy" for restarting the European economy.  

Francois Hollande was snubbed for weeks by conservative European leaders, Angela Merkel in the lead, who refused to receive it before the election because of his opposition to the treaty budget. President Nicolas Sarkozy warned since the beginning of the campaign against his opponent's economic program, he considers wasteful and he says it could trigger a wave of market speculation.

Francois Hollande "is a serious left, there will be fiscal responsibility, we will reduce the state deficit and we will do in 2013, passing below 3%" of gross domestic product (GDP), Pierre Moscovici said Wednesday, his campaign manager.

Orders for durable goods suffered in March in the U.S. their largest decline in three years, suggesting that industrial activity has lost momentum in late first quarter.

These orders were down 4.2%, the highest since January 2009, reported the Commerce Department Wednesday. Economists expected a 1.7% decrease.

In February these orders increased 1.9% instead of 2.4% in the first estimate.

A fall of 12.5% ​​of orders for transportation equipment, the largest since November 2010, partly explains the general figure. Orders in civil aircraft fell 47.6% during the month under review.

Excluding transportation, orders fell 1.1% after rising 1.9% in February (consensus: 0.5%).

Orders for civilian capital goods excluding aircraft, considered a standard of business investment plans, fell 0.8% in March compared to an increase 2.8% the previous month. The consensus gave up 0.9%.

Bonduelle wants to reduce the share of its business in France and, overall, in Western Europe where consumption remains sluggish, and grow in North America and Eastern Europe where the group recently conducted a series of acquisitions.

In an interview with Reuters, the chairman of the group specialized in canned and frozen vegetables believes that France could well be less than 20% of its sales in five years , against 36% today.

The group's strategy is to "dilute France and Europe as a whole, for reasons of profitability but also risks," he says. 

Bonduelle generated an operating margin of just 2.2% in the EU in the first half of fiscal 2011-2012, while it reached 12.9% in the rest the world.

"Two thirds of sales account for only one third of our profitability and vice versa. There is no need for great strategist will tell rather outside Europe, "notes Christophe Bonduelle

. This profitability gap, found long, has also prompted the group, created in 1853 to engage in acquisitions outside the European Uni ; enemies

. In March, Bonduelle has acquired three U.S. processing plants and a fitness frozen vegetables belonging to the group Allens American as well as industrial and commercial assets of the cooperative group in Russia Cecab FINANCING DEBT

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For these acquisitions, the group chose to go into debt rather than carry out a capital increase. 

According to the president, "the magnitude" of the group's net debt at the end of the 2011-2012 fiscal year and should be at 591 million euros, as provided sees analysts, while at the end of 2010-2011 it totaled 492 million euros.

These acquisitions will allow the group turnover exceeding 1.8 billion over the 2011-2012 fiscal year, ended June 30, against 1.7 billion euros a year earlier.

"We'll pass the milestone of two billion euros over the 2012-2013" provides Christophe Bonduelle.

Allens plants will bring nearly 130 million euros in turnover for the year 2012-2013, an amount which will increase to 170-180 million in the next three years. 

"A three-year horizon, North America will represent about 500 million euros in revenue" while on the year to June 2011, sales in this area totaled $ 284 million.

The acquisitions made in Russia will have an "extremely limited impact" on the 2011-2012 fiscal year but in 2012-2013 are expected to add revenues of the order of ten million euros.

"But this operation we should primarily relate to profitability as we go" Russify "a larger portion of our goodwill out there".

Around 10:30, the action Bonduelle yielded 1.36% to 72.4 euros (-1.36%) showing a market capitalization of 579.20 million. It grew by 15.8% since the beginning of the year.

It goes almost without a day in Italy a new drama is announced. A network of counseling has also been set up by an association of undertakings. All in a political climate very deleterious, which accuse each other of political recovery.

In late March, a mason sued for not paying his taxes had set himself on fire. He died after nine days of agony. A drama today far from being isolated in Italy, hit hard by the crisis. In recent weeks, the media of the peninsula are almost every day the echo of the desperate act of a contractor weighed down with debts and only seeing the closure as a future for your company, or employees dismissed without espour while Unemployment reached a record 9.3% in February. Dramas that evoke a strong emotion in the country.

"It's a terrible sign of desperation, a unique case of distress, which illustrates a time of great difficulty," said the former head of government of Romano Prodi left after the procedure of Mason Bologna. Angelino Alfano, LDP party leader Silvio Berlusconi (right), said he was on his side "very hurt" by "a wave, which has never been so long, suicide due to reasons of economic hardship." This is "the reflection of an unbearable situation" in the economic and social, not "isolated news items" found Sergio Marchionne, the boss of Fiat Auto, the largest in the country.

The number one party Italy of Values ​​(left) has instead created a controversy by attacking the prime minister Mario Monti who, he says, "the suicides of consciousness" when he "tells lies in newspapers on the crisis would be over. " Already hit by a deep crisis in 2009, Italy, leaded by the debt crisis and austerity plans for the chain to reassure the markets, just plunge in the recession at the end of last year.

Businesses are strangled by debt

Faced with this increase in suicides, the organization "Companies that resist" (che Imprese resistono) has set up a network in several regions of counseling called Terraferma to allow contractors or employees to discuss their problèmes.Alors that companies are already "proven" the first recession since 2009, "it currently takes to put them in big trouble," said Massimo Mazzuchelli, entrepreneur of the province of Varese (northern) which is responsible for this project . 

Strangled by debts, tax arrears and late payments from their customers, they are also very difficult to obtain credit from their banks, he says. "There is a concrete need for psychological support as the situation worsens". Lead contractors to lie on the couch is not easy, he admits, as they are often made their own and are used to solve their problems alone "

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psychoanalyst in Veneto (Northeast) participating in this initiative, Kety Ceolin notes that contractors who consult are beset by "shame" have "no hope in the medium term and feel that there is no interlocutor who seek practical help. "But" to talk with someone (they) can open and avoid the risk of isolation that leads to dramatic gestures, "said she

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PSA Peugeot Citroëna announced Tuesday that its capital increase to seal an alliance with General Motors had created a demand almost 1.8 times greater than supply.

The automotive group had discussed the appeal to the market in late February when it announced its agreement with the world number one and its coming to its capital as the second shareholder derriè ; re the Peugeot family.

Launched on March 6, the capital increase has removed a gross amount of 999,010,000 euros, PSA said in a statement, or the creation of just under 120.8 million new shares. 

The subscription price had indeed been set at 8.27 euros, showing a discount of approximately 42% over the closing price on the eve of the publication of modality ; s of the operation.

"The total demand amounted to approximately 1.78 billion euros, a subscription rate of 178%," the statement said.

"PSA Peugeot Citroën welcomes the success of this operation, which will fund the investment projects relating to the Strategic Alliance with General Motors," said President of the Executive Philippe Varin said in the statement.

The capital increase, as expected, allowed GM to take 7.0% stake in the group. Meanwhile, the Peugeot family, largest shareholder, has reduced its holding to 25.2% of the capital and 37.9% of exercisable voting rights.

Without waiting for finally reached this stage, PSA and GM had announced in recent days the composition of a steering committee composed of their alliance of five top leaders of both groups.

Observers now expect the first decisions from the industrial alliance, which could extend the gearbox to the joint design of new models. But longer term, this cooperation could have social consequences, both groups overcapacity in Europe.

In exchange, the action has finished PSA to 12.63 euros before the publication of the results of the capital increase. At this price level, the group is valued 2.96 billion euros, against just over EUR 30 billion for GM, according to Reuters data.

Nissan will recover the Datsun brand and focus development on India, Indonesia and Russia, said Tuesday its CEO Carlos Ghosn.

The Japanese automaker, he said, plans to invest $ 400 million (300 million) over two years in Indonesia, including hiring double by 2014 and triple its sales outlets the country, bringing the number to 90,000. Indonesia is the main economic power in Southeast Asia.

Carlos Ghosn, who is also CEO of Renault, has already spoken in the past the potential of the Datsun brand, under which most cars and pickup trucks were sold in Nissan outside of Japan until 1981.

Despite its abandonment decided there are more than 30 years, the brand is known in the U.S., the Middle East and Asia.

"It's a green car, affordable, for small movements, with a high local content," said Carlos Ghosn about Datsun. "This car will be a generous," he added.

Monday, Nissan officials met with Indonesian President Susilo Bambang Yudhoyono and promised to inject $ 400 million in order to double production of the group in the country for 2014.

"The priority (for Nissan in Indonesia) is the Indonesian market. If there is room for increased capacity, it will be for the domestic market rather than for export, although that is competitive in terms of costs, "said Carlos Ghosn.