Louis Welsh, president of EADS, on Tuesday presented the results of fiscal 2009 marked a net loss of 763 million euros, with heavy consequences including increased provisions under the Airbus A400M and the effect of exchange Euro-dollar negative (1 billion euros for the third consecutive year).
But observers have in mind the case of U.S. tanker. The defense giant Northrop Grumman American announced that he would compete to win a contract for 35 billion dollars to provide 179 refueling aircraft to the U.S. Army. This is the first installment of a giant order of 500 aircraft for 100 billion dollars. Northrop said that the criteria of the tender favored Boeing, also nominated. Consequently, EADS, his partner had no choice but to throw in the towel.
The news caused an outcry in Europe.«(…) During the current crisis, the smallest signs of protectionism are harmful, "accused Brüderle Rainer, German Minister of Economy," even in the field of defense, free competition should not be hampered unilaterally. The Foreign Office warned that "France, with the European Commission and its European partners concerned will proceed to the consideration of this new development and its possible implications.
A complaint before the World Trade Organization (WTO) seems to be excluded because it is not competent defense. And it can not intervene following a sovereign decision taken by a private company, namely Northrop. Louis Welsh did not want polemics or insult the future: "I am not a politician but an industrialist. I am part of a fact.The U.S. market remains a priority for us. "He was careful not to comment on the decision of its American ally. Northrop could have filed an appeal before a federal judge because he had a strong case. He preferred to drop and de facto release EADS. For the Democrats who control Congress have pushed the message. We must leave the field open for Boeing needs this contract to stay in the field of military aviation. Boeing, whose headquarters are located in Chicago, a stronghold of President Obama. Northrop would have been assured of being able to catch up on other contracts. He could not alienate its biggest customer, the Pentagon, who can not stand to see its decisions appealed to the GAO, the U.S. equivalent of the Court of Auditors. This was the case in early 2008 when Boeing was denied victory by Northrop and EADS.And succeeded.
Result, the U.S. Army for ten years waiting for its new tanker. Today is back to square one with, as in 2001, only one bid. It is possible that again the Republicans react as they reject the absence of competition.
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March 10th,2010
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The Paris Bourse started the week well. The CAC 40 Opens Monday up 0.35% to 3924.22 points.
Even optimism in the rest of Europe. London Stock Exchange has opened up 0.32% to 5616.91 points while in Frankfurt the Dax was entering the meeting in the green, taking 0.24%, to 5891.74 points.
Markets follow the movement driven by Asia Market earlier this week. The Japanese Nikkei closed up sharply (2.09%), carrying with him all the financial centers of the region.
This optimism comes from the U.S. figures for employment, less bad than expected, published Friday (36,000 jobs destroyed destruction cons 50,000 expected). Statistic reassure markets that see it as a sign of recovery very explicit. Especially as the consumer credit in the United States also sets out again on the rise (4.96 billion dollars in January).Both information had enabled the Cac 40 to exceed the 3900 points at the close Friday. Maintaining this level will be one of the objectives of investors on Monday, before setting off to the 4,000 points.
Japan, meanwhile, announced Monday a current account surplus (899.8 billion yen), compared to the deficit recorded last year in the same period (132.7 billion yen).
Furthermore, the forecast GDP growth in France has been revised slightly downwards to 0.4% in first quarter 2010, a second estimate of the Banque de France (BDF). In its first estimate published in February, the BdF expected GDP growth of 0.5% for this period.
German industrial production for January will be known 12 hours guaranteed payday loans .
EADS in the collimator
The defense group EADS said on Friday reached an agreement in principle with client countries on the financing of the military transport plane A400M. This also held Monday in Paris a crucial meeting on the fate of the military plane, which displays almost four years behind the counter.
The director general of Crédit Agricole, Jean-Paul Chifflet, revealed in an interview with Le Figaro, his long-term goals. "If we find other opportunities for collaboration to reduce intermediation costs for our customers, we will. With the Company generally or with others, "he said as well.This information may affect the securities Societe Generale and BNP Paribas.
In an interview with Le Figaro also Antoine Frerot, CEO of Veolia, reaffirms the group's objectives, including "after-tax profit of at least 9% and operating profit up 4% on average annually.
The central works of extraordinary total stands Monday. Employees of Dunkerque, on strike since January 12 this year, threatening to spread the oil available to them if management does not accede to their demands.
As for publications, Biomerieux announced on Monday a net profit in 2009 of 148 million euros, above expectations. The group table for the period 2010-2015, an average annual growth of between 7% and 9% at constant exchange rates.
The annual results of cements French gather today.Just as those of April, after market close.
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This is a first official estimate. Le Figaro had argued Wednesday the number of one billion euros in damage, according to the French Federation of Insurance Companies (FFSA), the Xynthia storm that swept through France last Sunday is expected to cost at least $ 1.2 billion of EUR insurers. Because this encryption is based on insurance claims 500,000 victims and will probably be revised upwards. Firstly because other people should still report damage in the coming days. Xynthia is indeed the most violent storm in the 1999, stronger than that Klaus had 740,000 victims last year in the Southwest. Secondly, many houses are still flooded making it difficult to make a definitive estimate of the damage.
The assessment takes into account the damage caused by wind and partly by water.These latter are partly supported by governments that have recognized the state of natural disaster one hour payday loan .
To find the total cost of damage from the storm, it would also add all those suffered by all the infrastructure (roads, bridges, dams). Borne by state and local governments and not covered by members of the FFSA and the Grouping of mutual insurance companies, they have not been integrated to 1.2 billion euros. The final cost of Klaus – 1.68 billion euros – was nearly three times the initial estimate.According to the FFSA, it will take one to two months in order to establish the final amount of the cost of the storm for its members.
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Placed on oxygen last year, European manufacturers have yet to most tipped in red. And 2010 looks even more complicated for them they will have to relearn how to breathe alone. Due to the cessation or reduction of premiums for scrap, which had supported at arm's key markets of the Old Continent, PSA Peugeot Citroën and anticipating a decline in European markets by 9% this year, a decline in Renault Ford 10% and a dip of 15%.
Good registrations in January and February (17.8% in France last month) "reflect only the orders taken in December, said Tuesday at the Geneva Motor Show, Carlos Ghosn CEO of Renault. The latter includes a decline in sales from the spring.
"We still expect a strong headwind in Germany and Europe in general," said his side Martin Winterkorn, head of Volkswagen.The German market, after taking off in 2009 with the premium snack, could lose more than one million cars this year. "Despite some positive economic indicators in some countries, consumer confidence, undermined by rising unemployment, is not sufficient to engage in buying a car, for its part says John Fleming, the owner Ford of Europe, which sees no strong recovery before 2011.
So, the price war is raging. "There is an increase in rebates charged, they are difficult market conditions, said John Fleming. We must find a balance between the gains in market share and promotional expenses realistic creditreport . Even finding for drivers to maneuver and supervisors who work 20 minutes at 1:35 less than their working theory. On the RER B, managed with the RATP, the effective working time of workers down even at 5:50 am daily.
The institution of the Rue Cambon notes that despite its efforts, the station is "not reached a sufficiently relaxed social setting strictly regulated. A situation that could weaken against its competitors and "constitute an obstacle to its development."
The Court of Auditors called the coup, a "necessary harmonization of rules between the station and private operators.
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The setbacks being experienced with Toyota vehicles never seem to end. The giant Japanese automaker has indeed announce on Tuesday it will recall more than 400,000 hybrid cars in the world affected by a defect in the braking system. Among them, 223,068 vehicles sold in Japan, including 199,666 Prius. In the U.S., the figure stands at 133,000 and thousands around the world. This is another blow for the giant Nippon automotive after the 8 million vehicles returned to the garage because of problems of accelerator. The cars are concerned, primarily, the third-generation Prius, manufactured and marketed in Japan since last year.
The worldwide recall also covers tens of thousands of Lexus HS250h and SAI, whose sales will be discontinued in Japan until late February or early March.It also applies to a few tens of Prius PHV, which should be commercialized on a large scale in 2011, but already leased to Toyota by some companies and institutions on a trial basis.
This promises to reverse the more painful for Toyota, it has built its strategy around hybrid vehicles, equipped with a dual fuel engine and electricity, and presented as "environmentally friendly". This announcement follows the statement by the head of Toyota in the United States, Jim Lentz, who admitted Monday that the Japanese manufacturer had been aware of problems pedal acclération in 2007 but the case had not then been identifée, thus denying that his group had hidden recurring problems.A Californian has even filed a lawsuit against Toyota, alleging that it had several problems with its brakes Prius.
Toyota shares gained nearly 4%
During a press conference on Tuesday morning – the second in just three days – the Toyota President Akio Toyoda, reiterated his determination to regain the trust of its customers and ensure that Toyota may "everything in its power" to that payday loans . "Let me convince you that we will redouble our commitment to quality, which is the heart of our society, under my direction," said Aiko Toyoda. The CEO said he would travel to the United States to explain about the reminders.
Aiko Toyoda also confirmed that Toyota will be able to immediately repair the defect on the Prius.However, the remedies are not yet ready for other models recalled, where the interruption of sales agreed in Japan. However, activity has resumed in North America, having been suspended. What Toyota does not deal with several lawsuits in partnership with the United States and Canada, from motorists who accuse it of concealing the existence of the defect of the pedal ' acceleration of their vehicles.
The Prius, whose first version dates from 1997, the hybrid car is the most sold worldwide, with about 1.5 million copies sold in late August 2009.It is central to the strategy of Toyota, whose goal is to sell more than one million hybrids worldwide each year.
At the Tokyo Stock Exchange, the share of Toyota rose about 2.89% to 3375 yen, investors saying it had fallen to a level undervalued.
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The euro fell Friday to its lowest level since May 2009. This morning, the single currency goes on its third session decline and fell below the $ 1.37, after passing down the threshold of 1.38 dollars the previous day (Thursday evening about 22 hours). It reached 1.3648 dollars around 9 am 30. It's a new level for the single currency since May 9
Since the beginning of the year, the euro lost 2.5%.
This drop is explained in particular by the concern of traders due to budgetary problems of many countries in the euro area. Many expect a strong intervention of Europe and even appealed to the International Monetary Fund (IMF) to help Greece to get out of a budget crisis without precedent.
Another concern is about the euro on the currency market, the case of Spain, which has poorly digested crisis including an unemployment rate of nearly 20%.Besides Dominique Strauss-Kahn, IMF head, spoke Thursday on RTL crisis "very strong in Spain and that the country had" an effort "to reduce public deficits Business Card Holders . The Spanish public debt has soared just over 60% of GDP in 2010 while in 2007 it accounted for only 36.2% of GDP.
Tuesday, Paul Krugman, Nobel Prize in Economics in 2008, believed that Spain was the main weakness in the euro area. To this the Spanish Minister of Economic Affairs, Elena Salgado, has responded Thursday by saying on the radio station La Cope: "The euro is a very strong and we continue to strengthen the currency.I see absolutely no risk for the euro area, "adding," there may be a lack of understanding about what the euro means for our economy. "
Another country in the euro area is also starting to worry, Portugal, again because of deteriorating public finances of the country. Besides the titles of Portuguese banks fell by 5 to 6% Thursday on the Lisbon Stock Exchange.
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Twenty-five phone calls, and the authority of a so-called police commander in the Financial Guard, have nearly costly to Areva. A spokesman for global nuclear leadership confirmed on Wednesday that the figaro.fr of its subsidiaries has been referred by an attempted scam, which has been thwarted, without giving further details. RTL radio said that the event took place last Thursday, January 14.
The usurper who called himself Louis Bouvard, an unknown name to the financial police, said acting on the orders of a magistrate, to dismantle an international network of fraud to the credit card, the radio said.A payment of an amount of 982,000 euros to Hong Kong would have been asked, then realized, before being interrupted in extremis by the security services of Areva.
A judicial inquiry was opened
The Paris prosecutors opened a criminal investigation yesterday, Tuesday, about the attempted fraud, which could have been brought by an international syndicate. He told the inquiry to the Brigade of fraud means payments of the prefecture of Paris.
The case is therefore of no consequence to Areva. But it is a concern more for Anne Lauvergeon, which currently crosses the iron in the media with EDF, to ensure the place of his group in the French team of nuclear.The other question must be arbitrated on Wednesday by Prime Minister Francois Fillon, who planned to gather around him the leaders of the two partner groups, but still competing.
Tensions escalate between EDF and Areva
"Fillon convened Proglio and Lauvergeon
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As expected, the U.S. bank JP Morgan Chase announced a great performance this Friday for its fourth quarter 2009. Over this period, net profit stood at 3.278 billion dollars (2.27 billion euros), a figure four times over the fourth quarter of 2008. Net banking income (equivalent to the turnover) amounted to 23.164 billion dollars over the same period against 17.226 billion in 2008. Levels well below expectations of analysts who had forecast at 26.2 billion.
For the full year, JP Morgan Chase is much better than expected with a net profit stood at 11.728 billion dollars. Twice in 2008. Regarding the benefits of the fourth quarter alone, the performance of the bank exceeds expectations at $ 74 cents per share in the fourth quarter against the 62 expected by analysts.On the year, net earnings per share were $ 2.24, against expectations of 2.12.
The bank also announced having strengthened its balance sheet, with a Tier 1 capital of 133 billion dollars or 11.1% ratio against 10.2% in September 30.
The banking investments have contributed greatly to the group's results, with net income of 1.901 billion, against a loss of 2.364 billion last year in the same period.
Deception
Yet the markets react badly to this first major publication in the banking sector. On Wall Street, the Dow Jones opened down 0.26% at 10,683 points. Action JP Morgan lost 2.15%, resulting in his fall Citigroup (-1.71%), Bank of America (2.32%) Goldman Sachs (-1.06%) and Morgan Stanley (-2, 76%). In Paris the CAC 40 in red switch to -0.60 while it was resumed in mid-session.
Investors, disappointed, hold that the bank has added $ 1.9 billion to its reserves for losses on consumer loans. The financial institution also announced that "the results have not reached a level of return on capital adequacy and realized their full potential." "The results of companies have certainly not the desired leverage effect '," noted Joseph Hargett of Schaeffer's Investment Research. "JPMorgan Chase has even gone so far as to express a high degree of caution on the current economic environment," says he.
Jamie Dimon, CEO of JP Morgan, will indeed "be cautious" about its outlook. His bank has, he says, face a cost of "high" risk. JP Morgan has included in its accounts last quarter to 7.3 billion dollars in reserves to cover these risks.
Moreover, while the swelling controversy over the pay of bankers and traders on Wall Street, JPMorgan reported costs of "compensation" (which includes wages and bonuses) increased by 18% in 2009 compared to the year prev. A new and should not meet U.S. President Barack Obama said Thursday that a proposed tax of fifty large bank.
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