Bouygues was competing with Vinci for this major project, to be confirmed by the signing of the PPP expected by February 2012, says in a statement.

This signature will then make public the architectural design of the book, which will be built on the ZAC Clichy-Batignolles, north of the capital, said the board of the Public Corporation of the courthouse in Paris (EPPJP ).

The project, presented as the window of a modern justice in France, was announced by Nicolas Sarkozy in April 2009 as part of his speech to the Greater Paris.

It will be completed before the end of 2016 for a 2017 start-up current, said the EPPJP.

The state and the city of Paris for a long time felt that the current courthouse in Paris, located in the Ile de la Cité in the heart of the capital, had become too dilapidated.

In addition, the premises of the High Court of Paris and the regional judicial police are now scattered over six different sites.

At a height of 160 meters, the new building will bring together on a single site all services of the Tribunal de Grande Instance of Paris and the police court.

Research firm, which also reported a slowdown in activity in the third quarter, does not mention in its press release of a forecast growth in sales for 2011.

The group had said previously a target organic growth of over 6%.

"However, this reduction in growth prospects do not undermine the objective of Ipsos – Synovate out – to reach a record operating margin of at least 11% in 2011," the company said in a statement .

Ipsos, which became the third largest global market research industry by closing early October the acquisition of Synovate, said that the activity of the new entity should return to a normal rhythm "no later than summer 2012 ".

The third quarter sales of Ipsos, Synovate out to be consolidated from 1 October 2011, was $ 287.6 million, up 5.4% at constant scope and exchange rates, while Analyst estimates ranged from 5.6% to 6.0%.

It reflects a slowdown after growth of 6.4% announced in the second quarter and increased 6.2% over the first three months of the year.

The first nine months of the year, organic growth stood at 6.0% for sales to 845.8 million euros.

"The operating margin was up compared to the same period of 2010," said the company in a statement, without providing any figure indicated.

The French research company was particularly penalized in the third quarter by the slowdown in its business market research and advertising associated with a reduction in the number of client projects, Ipsos said.

Emerging economies, however, take the pace, with organic growth of 17% over nine months.

In its statement, the company said that the merger of the teams Synovate and Ipsos should be effective from January next year before the launch of a new integrated offering scheduled for February 15.

"The cost of support for the Belgian Dexia is not insignificant, and highlights a weakness of the note of Belgium, including a large banking and financial commitment that implies for the state," said Douglas Renwick, one of the leaders of the team responsible for Fitch's sovereign ratings, told Reuters in an email.

Monday morning, Standard and Poor's and Moody's confirmed or repeated Monday that they give full marks to the French public debt and its stable outlook, hours after the announcement of the public bailout of Franco-Belgian bank Dexia.

This plan includes 90 billion of government guarantees to ensure the financing needs of the public entity that will remain after decommissioning. Belgium will provide 60.5% of these guarantees, against 36.5% in France, the remainder returning to Luxembourg.

Suspended since Thursday, Dexia shares plummeted to its resumption of trading at 14.30, losing up to 36% before recovering an hour later to earn 8.88% to 0.92 euro. She eventually finished down 4.73% to 0.805 euro.At its highest in late May 2007, the action was still worth 22.56 euros.

Maria Malas-Mroueh, who is also one of the leaders of sovereign ratings, said that 36.5% of 90 billion of guarantees accounted for at most 1.6% of French GDP."For Fitch, Dexia exposure is small compared to the French GDP and it is not in itself a significant risk to the French note," she said in an email.

This view is shared by Moody's which held that the dismantling of Dexia would, for now, no impact on credit ratings of France.

Some concern weighing on the credit rating due to a share of the debt of France and also the country's banks' exposure to debt in the euro area device.

Second largest economy in the euro zone, France is the country whose deficit and debt are the highest in six countries in the euro area still rated AAA.

This is the lowest closing price of Brent in seven and a half months.

Shortly before, a barrel of U.S. light crude had ended down $ 1.59, or 2.01% to 77.61 dollars.

Greek Prime Minister George Papandreou would meet with French President Nicolas Sarkozy in Paris on Friday to discuss the plan to end the crisis, said on Thursday a source close to the case in Athens. France is one of the main funders of Greece, with Germany, which was Tuesday Papandreou, who met with Chancellor Angela Merkel. The Chancellor said it was awaiting the findings of the audit conducted by the troika of the country's creditors, representatives of the EU, the ECB and IMF, who arrived Thursday in Athens to whether there should or not renegotiate the terms of the second international aid plan decided on July 21 in Brussels by the euro area.

"Should we renegotiate, or not renegotiate? We would prefer of course that the figures remain unchanged, but I can not predict (the outcome of) the troika," said German Chancellor Wednesday in an interview with Greek state television NET . "We were obviously disappointed that apparently the numbers (the Greek budget deficit, Ed) in September were not as they should be. So we must wait and see what conclusions the troika arrives, the mission experts, what it tells us, "said Merkel.

For its part, the French Minister of Economy, Baroin said Wednesday evening that there was "no alternative" to the background, being ratified in several countries in Europe. "We have a plan" and "yes, France will continue to support the strategy of support" to a partner in the euro area, saidBaroin to the public television channel France 2. "This is the only strategy," he said. "There is no alternative to the declination of the agreement of July 21" and "there is no alternative to the implementation" of the European emergency fund, the EFSF, he said.

The plan, according to the French minister, will "ensure and support measures over time and measures to prevent contagion in large countries such as Spain and Italy." The European Agreement of 21 July expanded the toolbox of EFSF, which was established in 2010 to help countries in financial difficulty.It provides support some 160 billion euros to Greece to avoid bankruptcy, and most importantly, for the first time, the involvement of private banks in the rescue process, which agreed to voluntarily participate in an exchange program bonds when they lose 21% of their implementation, to avoid losing everything in case of bankruptcy of the country. Heads of Mission of the troika comprising the three main creditors of the countries (EU, IMF and ECB) are scheduled to resume Thursday in Athens their audit of the accounts of Greece after almost a month break.

The Nikkei lost 2.31% or 201.99 points to 8,535.67 and the Topix, broader, sold 14.44 points (-1.91%) to 741.26.

Philipp Rösler, German Economy Minister and leader of the liberal FDP, partner of the CDU Angela Merkel in the ruling coalition in Berlin, said that a possible failure of Greece was not taboo.

The possibility of quitting the euro area held at arm's Greece arises after investors were caught off guard by Friday's resignation of Jürgen Stark CEO of the European Central Bank (ECB) because of disagreements on the response to the crisis.

"It is Europe that is at the center of attention, but concerns about the U.S. economy have not gone away Fumiyuki Nakanishi (…)", said.

The index futures on Wall Street seem to suggest a decline, which would come after the fall of more than 2% suffered Friday in the wake of the resignation of Jürgen Stark and the feeling that European leaders can no longer control the crisis debt.

The title Suzuki sold 2.75% after Volkswagen said on Sunday that the manufacturer had breached the terms of their partnership.

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In Canada, the U.S. bank has an agreement with TD Bank Group on a portfolio of $ 8.6 billion, according to a statement released Monday, however, reveals that the amount of the transaction.

TD Group said it would pay a "modest premium" of the approximately 1.8 million customer accounts at Bank of America again.

Bank of America also announced the sale of its credit cards in Spain in the private equity fund Apollo Capital Management.

The first U.S. bank seeking to strengthen its capital reserves as it faces several legal disputes inherited from the takeover of the mortgage company Countrywide.

Bank of America, which has lost more than 22 billion dollars over the last four quarters in its mortgage business, was announced in late June have resolved almost all of a dispute relating to securities linked to mortgages from Countrywide, upon payment of $ 8.5 billion in cash.

Since the collapse of large U.S. investment bank Lehman Brothers in September 2008, CDS, hitherto limited to the insurance of corporate debt, have expanded and have become a kind of justice, to the point of fuel the rumors about a possible deterioration in the "AAA" of France.

"Buy CDS in France awaiting an imminent breakdown of 'AAA' is totally unfounded," said Eric Oynoyan, rates strategist at BNP Paribas in London.

Professionals are asked if the decision of the European Central Bank to buy in the market for sovereign debt Italy and Spain this week has loosened the pressure on rates and CDS of the two countries, the 5-year CDS of France peaked around 170 basis points. Before the summer, the CDS of France was below 100.

But in parallel on the spot market, the yield on French government bonds greatly relaxed, the 10 years falling under 3% on Friday, its lowest level since November 2010.

The 10-year yield had fallen German and French at the end of August 2010 lows, respectively 2.11% and 2.51%.

"The rates on the spot market remains the most important.They are the ones that determine the cost of financing state, "said David schnautze, rates strategist at Commerzbank in London.

THE CDS IS NOT A FINANCIAL INSTRUMENT

"Bonds are traded continuously, they are highly liquid, which is not the case of CDS. At the end of the day is the rate that matters for Mr. Baroin (Minister of Economy) and French taxpayers.Person uses the CDS to finance, "said Ciaran O'Hagan, strategist at Societe Generale rate.

"I tend to be very careful not to give too much importance to CDS or what they mean," he adds.

Oynoyan Eric, who has just published a study on the CDS in France, said that among the countries "AAA" in the euro area, the gap between the level of the cash market (the standard rate) and the CDS is much more higher than for France to Austria, the Netherlands and Finland.

He said since the collapse of Lehman Brothers, the CDS of France does not follow the cash and incorporates a risk premium of 60 basis points "too high".

The strategist at BNP Paribas believes that the CDS in France since 2008 includes "the amount of sovereign risk, liquidity risk and a risk premium linked to the banking system."

The increase of 30 basis points of the component of the liquidity risk premium, which explains the surge in CDS of France in recent weeks is far too high in relation to the CDS of French banks and the rise of market volatility shares measured by the VIX America.

"A risky"

The professionals interviewed recalled that after the breakdown in "AAA" rating from the U.S., Standard & Poor's confirmed the "triple A" of France with a stable outlook.Fitch and Moody's, which kept the "triple A" in the United States, have also confirmed for France with a stable outlook.

CDS play in anticipation of a deterioration in France as "AAA" is "a risky given the difference between the CDS and the cash rate (the highest among the" AAA ")," said Eric Oynoyan.

David schnautze highlights the "lack of transparency" of the CDS market, which is an OTC market.

According to estimates provided by BNP Paribas, the net notional amount of CDS sovereign in the world stood at the end of April to nearly $ 150 billion, while the stock of marketable debt of France was about 1300 billion euros at the end of June and the U.S. 17,000 billion, excluding treasury bills (short-term debt) for the two countries.

Ciaran O'Hagan and David schnautze focus on legal issues of contracts related to the onset of CDS. The question was raised in the event of a default of Greece. They note that in this case, it would not result in the onset of CDS.

"The committee (of the ISDA, the association of professionals in the derivatives markets, Ed) in charge to decide is so restrictive that the trip is very unlikely," said Ciaran O'Hagan.

Standard CDS contracts have a maturity of five years and involves 10 million euros. The cost of protecting against a default for a CDS estimated at 170 basis points is 170,000 euros per year.

The Minister of Finance, Vitor Gaspar, also told the press that Lisbon was preparing new spending cuts to ensure that the target for this year's budget deficit is reached.

The estimated contraction in GDP in 2011 by the government is slightly more pessimistic than the Bank of Portugal, which said Tuesday forecast 2.0% decline in 2011 and 1.8% in 2012.

"The projections show an economic contraction this year and next, with a significant recovery from 2013," said Vitor Gaspar, adding that "the margin of economic uncertainty [was] unprecedented."

In May, when the IMF and the EU in Lisbon gave a bailout of 78 billion euros, was expected contraction of GDP to 2.0% this year and for 2012.