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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."

Panasonic said Friday forecast a rebound in operating profit in the current year, thanks to reduced costs and reduced losses its television division.

The consumer electronics group has reported a net loss of 772.2 billion unprecedented yen (7.5 billion euros) in fiscal 2011/2012 ended 31 March .

It is due mainly to restructuring charges, related mainly to the elimination of 17,000 jobs, as well as a provision on subsidiary Sanyo Electric.

Panasonic projects an operating profit of 260 billion yen in fiscal 2012/2013, while the Thomson Reuters consensus I / B / E / S provides 241.5 billion yen. 

Panasonic, which like its counterparts Sharp and Sony suffers from competition from South Korea's Samsung and a declining demand for plasma displays, does not see its TV division back in the green during year 2012/2013.

The maker of Viera televisions estimated that sales of flat screen TV will fall to 15.5 million units during the current year against 17.5 million in fiscal year pre yield.

The action Panasonic ended down 1.55% at 570 yen before the publication of results. She has sold more than 12% since the beginning of the year, while the Nikkei was up 5.9% at the same time, investors fearing further losses of the TV division.

Sony has also released Thursday an annual net loss record over the 2011-2012 fiscal year and hopes to revive an operating profit of the current year by halving its losses in TVs.

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.

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%.

Wall Street indices finished in a disorganized Monday, the Dow for his part having benefited from the support of consumer values ​​in a stock market that has adopted a defensive posture.

Such values ​​is seen as a safe haven for investors in times of crisis.

Renewed fears arising from the debt crisis in the euro zone in general and Spain in particular has offset the good effect created by retail sales, which explains the clos ; ture no clear trend in the S & P-500.

In contrast, the Nasdaq has fallen in the wake of Apple, whose shares gained 45% since the beginning of the year and was thus exposed to equity bé ; néfice. 

Mattel, which saw its quarterly revenue decline, and Google, Oracle facing the courts, have also sealed the Nasdaq.

The Dow Jones gained 71.82 points (0.56%) to 12,921.41 points. The S & P 500 lost 0.69 points (0.05%) to 1,369.57 points. The Nasdaq Composite yield 22.93 points (0.76%) to 2,988.40 points.

The stock market had yet received good news in early trading.

Retail sales in the U.S. rose 0.8% in March, above expectations, despite rising gasoline prices, suggesting that the e U.S. economy has not slowed in the first quarter as much as some might fear.

But not long after, the stock market learned that the moral property developers had declined in April for the first time in seven months, with an index NAHB / Wells Fargo standing at 25, disappointing expectations economists who were waiting stable at 28. 

To drive the point home, the New York Fed announced that manufacturing growth had slowed sharply in April in its region to reach its lowest level in five months.

Citigroup was also good news in early trading in reporting a profit above expectations in the first quarter 2012 through a decrease of 7% of its expenditure, improving the economy and financial markets more active after a difficult year-end 2011. The action takes Citigroup 1.77% to $ 34.

Values ​​always, Avon sells 2.08% to 23.03 dollars. Coty reiterated Monday that he proposed to buy Avon Products to 23.25 dollars per share, an offer to $ 10 billion (7.6 billion euros) that specializes in direct sales cosmetics had rejected earlier this month in the judging undervalued.

The high techs, Apple sells 4.15% to 580.13 dollars.

Google gives up 3% and 0.5% ahead of Oracle. Oracle has filed suit against Google in August 2010, accusing the Android operating system of the latter of infringing intellectual property relating to its Java software. Jury selection began for PROCESA Monday.

Mattel drops by more than 9% to $ 31.

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 "

.

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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The number of jobs créésa been well below expectations in March in the U.S., which suggests that the Fed has leeway for further monetary easing, although the unemployment rate fell to a three-year low of 8.2%.

The number of jobs créésa was 120,000 in March, reported the Labor Department Friday, the lowest since October 2011.

Economists polled by Reuters expected a number of 203,000 and an unchanged unemployment rate of 8.3%. 

The index futures on Wall Street fell sharply in reaction to this statistic, as the dollar against the euro and the yen, while the bond market has erased its losses and has trended upward.

The slower employment growth likely reflects an attenuation of the stimulus that had resulted from an unusually mild winter. Job creation in January and February were revised and show just 4,000 new jobs more than the first estimate.

The decline in the unemployment rate attests it a contraction of the activated population. The survey made from separate households, from which is calculated the unemployment rate, also shows a decline in employment.

The slow recovery of the difficult job market is a concern for Fed Chairman Ben Bernanke, who leaves the possibility to intervene again to stimulate the economy if the unemployment rate ; mage continues to remain too high.

However, members of the Monetary Policy Committee of the Federal Reserve have suggested that the need for new measures to support the American economy became less feel the light of improved economic conditions in the United States, according to the minutes of the March meeting of the Fed released this week.

The private sector has received 121.000 new jobs in March, while the public sector lost 1,000.

The industry has experienced one month of new dynamic in employment, 37,000 were created especially for the performance of the car after 31,000 in February.

However, construction lost 7,000 jobs, while in services, employment rose in health in particular. The interim has lost 7,500 jobs, after having won 54,900 in February.

Despite the low number of jobs created, a bad point for President Barack Obama in the context of the November elections, the average hourly earnings rose five cents per month, while the workweek fell to 34.5 hours against 34.6 hours in February.

Every kilometer drive costs 25 cents against 9 cents per person on average using public transportation, according to a study of FNAUT. A subway train, Porte de Versailles.

Car travel cost on average three times more expensive than those made by public transport, regardless of fuel costs that weigh less in the budget of the French, according to a study by the National Federation of users transport (FNAUT). For journeys of less than 80 km, which represent the bulk of daily journeys by car every mile costs 25 cents against 9 cents per person on average using public transport (bus and B), according to the calculations presented Friday by author of the study, the transport economist Jean-Marie Beauvais.  

In detail, the use of public transport in provincial cities is more expensive (13 cents per passenger) in Ile-de-France (11 cents) or the travel TER (7 cents). "It is estimated that the province of urban public transport is roughly two to three times cheaper than the car, transportation Ile 3 to 4 times cheaper and TER to six times cheaper (Lyon – Saint- Etienne), "said the FNAUT. The Economist has compiled and cross several public data to calculate the actual cost of the use of a car taking into account wear and tear, maintenance, repairs, insurance …

Implement congestion charges

The study, which reviews the evolution of transportation costs from the 70, also reveals a surprising fact: the share of fuel costs in the budget of the French fell for 30 years. "Today, it costs three times less than 100 km to thirty years ago" in terms of purchasing power, noted Jean Sivardière, president of the FNAUT, during the presentation to the press. Indeed, "wages have risen faster than gasoline prices and tax rates have weakened," he said. "This has increased the most, is the maintenance and repair of vehicles, not fuel," confirmed Mr. Beauvais, stating that in 1970, to pay for a liter of gasoline needed to work 22 minutes against 8 minutes in 2010.

"The car is much more expensive than what the driver believes," because there is a difference between the actual cost and what it feels to spend (tolls, parking, gasoline), Mr. Sivardière develops. However, public transport accounted for only 12% of short journeys. To encourage drivers to use them, the advocates FNAUT rising cost of car use, track "legitimate and necessary" for Mr. Sivardière. Among the measures he mentioned: the introduction of congestion charging, increasing the price of parking in the city or the rise of the TIPP (domestic tax on petroleum products) Regional.

Aware of the unpopularity of these measures while gasoline prices are at historic highs, Mr. Sivardière suggestion is to extend the practice of "eco-driving" techniques to conduct more flexible, which would allow a fuel economy by 15%. Logically, the association is opposed to the blocking of gas prices or the TIPP proposed by some candidates in the presidential election as Francois Hollande, a supporter of the price freeze or Marine Le Pen, who wants to reduce the TIPP. "Reducing the TIPP 20% as proposed by Marine Le Pen would cost 3 billion euros annually to the state," said Mr. Sivardière.