This time, the Fininvest will have to pay. The court sentenced him on Saturday appealed the group owned by Silvio Berlusconi to pay 560 million euros in the CIR group, owned by Carlo de Benedetti. The judges of the Court of Appeal of Milan have found that control of the publisher Mondadori, obtained in 1991 by Fininvest, to the detriment of the EIF through a favorable court decision, was made possible by the corruption of judge and lawyers involved. In 2007, the Criminal Justice had issued a similar notice, including the judge sentenced Vottorio Metta was stationed in nearly three years in prison.
On appeal, the Milan judges, however, have reduced the scale of the financial penalty, determined in the first instance to 750 million euros.Unlike 2007, the decision will also be immediately enforceable: Fininvest will address 560 million euros in damages without waiting for the trial to the Supreme Court that the group should seek. "Our lawyers are already beginning to study the complaint," has indeed responded Marina Berlusconi, the eldest daughter of the Head of Government and president of Fininvest. This assesses the amount of the penalty "to double the participation of Fininvest in Mondadori guaranteed fast personal loans."
Electoral setback and legal troubles
The Cavaliere had nevertheless worked hard to save the payment of such penalty to the group. Approaching the verdict, he did not hesitate to try to vote by Parliament an amendment to the Civil Code suspending sanctions in excess of 20 million euros on appeal, until the final decision of the court of Cassation.A measure to be adopted in the Bill ratifying the austerity plan. Faced with the outcry in the opinion of this measure, the Cavaliere has this week backed down.
This decision is more bad news for the chairman, who combines political defeats in recent months and legal troubles. Also implicated in the "Rubygate" Silvio Berlusconi suffered a severe mid-June electoral setback. The Italians have indeed overwhelmingly (over 94%) rejected four bills proposed by his government and put to a referendum: one devoted to the construction of new nuclear power stations, one on the privatization of water management by municipalities, and two providing legal immunity of ministers and the chairman of the board. Silvio Berlusconi, who announced Friday he would not stand in 2013, probably did not finish with the law.
U.S. stock markets are evolving around the balance on Thursday. The Dow Jones gained 0.05% to 11,902.68 points, the S & P 500 gained 0.15% to 1267.31 points while the Nasdaq lost 0.05% to 2630.11 points Wednesday, the NYSE has ended a marked decrease, yielding again to concerns about debt and undermined by several Greek statistics bad omen.
Markets should remain very fragile on Thursday while the situation in Greece and the proceedings were mired up in the country without the euro zone will reach a solution firm. Greek Prime Minister George Papandreou on Wednesday announced a reshuffle of his government to be held this Thursday, the day he will ask for a confidence vote in Parliament.
Meanwhile the weekly jobless
In the wake of heightened tensions, the euro retreated against the dollar ever.In the afternoon in Paris, the European single currency was worth 1.4147 dollars against 1.4182 dollars late Wednesday, after falling to 1.4090 dollars in the morning, the lowest since three weeks.
Meanwhile, oil prices continued to fall at the opening in New York, losing 14 cents a barrel to 94.67 dollars despite indicators better than expected in the U.S., a market increasingly nervous about the magnitude of the crisis in Greece. That of Brent North Sea crude for delivery same progressed from 99 cents to 114 dollars.Investors buy oil after the sharp decline yesterday, which saw prices go below $ 95 a barrel.
However, there is good news on the macroeconomic front:
– New jobless claims fell more than expected in the United States, where 414,000 applications for grants were submitted from June 5 to 11 – a drop of 4% from last week.Analysts had expected 421,000 new registrations.
– The housing starts and building permits issued in the U.S. are starting to rebound in May, increasing by 8.7% and 3.5%, according to figures released Thursday by the Commerce Department.
However, the deficit of the balance of current accounts of the United States has widened in the first quarter to 119.3 billion against $ 112.2 billion the previous quarter, according to figures released Thursday by the Commerce Department.
Boeing revises its forecasts upwards
Boeing: 0.77% to 74.42 dollars
Side firms, Boeing announced Thursday forecast revised upwards for the global market for airliners in 2030, which should be driven in particular by the renewal of the fleets of airlines seeking fuel-efficient aircraft.By that date, Boeing now expects a volume of 33,500 new units sold, all manufacturers combined, for a total estimated at more than 4,000 billion dollars.
Caterpillar: 0.76% to 96.38 dollars
The world's leading manufacturer of construction equipment, Caterpillar, will launch this year the construction of a factory in Thailand, he announced Thursday. The factory, covering an area of 40,000 m2, will begin production late 2013 and employ about 900 people.
IBM: +0.19% to 162.64 dollars, Apple +0.17% to 327.30 dollars
The computer giant IBM, which was responsible for several technological revolutions that led to the modern computer, is celebrating its 100th birthday this Thursday by showing a great vitality, even if no longer domination that was his.With $ 197 billion market capitalization, IBM is the 14th global value, behind Apple (304 billion U.S. dollars) but close to Microsoft ($ 201 billion).
Ford: -0.20% to 13.12 dollars
The automaker Ford has dampened the market in providing for the second quarter results "equal or slightly lower" than in the first quarter, less than analysts were waiting, mostly because of rising costs.
Johnson & Johnson: -0.24% to $ 66
Always on the side of values, Johnson & Johnson, through its subsidiary Cordis announced discontinuation of development of its prosthetic heart stent Nevo to "concentrate on other cardiovascular therapies for which significant needs exist for patients" .Given this decision, the group should record a second quarter restructuring charge after tax of between 500 and 600 million dollars.
Autozone: +0.08% to 289.79 dollars
The board of directors has approved an extension Autozone's share buyback program of approximately 500 million additional shares.
CLARCOR: 1.92% to 44.08 dollars
CLARCOR issued for the second quarter of its fiscal year, ended May 28, revenues increased 12% to $ 288.5 million. Net income stood at $ 32.8 million, against a profit of $ 23.9 million a year earlier.
Owens-Illinois: -2.35% to 24.94 dollars
Owens-Illinois reduced its earnings forecast for the second quarter. The group was counting on previous results in line with those of the previous year.It now expects that its quarterly earnings will decline over one year.
SunPower: -0.91% to $ 17.50
Also note, Total has completed its friendly takeover bid of about $ 1.3 billion U.S. dollars on SunPower, a majority of shareholders of the company specialized in solar panels have agreed to tender their shares.
The state last year paid 46.6 billion euros in pension pensions to former civil servants. 13% of its running costs! This amount is however lower by almost 1 billion forecast. Two explanations for this, says an "annual performance report" posted by the Department of Budget: lower inflation than expected, so a smaller pension increases, and fewer than expected new retirees.
Only 70,100 civil servants have retired last year, where an assumption of 77,800 was used. In 2009 already, the 68,000 starts recorded (after 81,000 in 2008 and 2009) were below projections. But a "behavior change" occurred in mid-2009 that Bercy attributed to three phenomena.First, the 2003 reform, which requires officials to work longer for a full pension (since 2008, they have validated many quarters that private sector employees: 40 years for those born in 1948, which term will gradually raised to 41 years and a quarter for those born in 1953 and after). Then the crisis, which could push workers to postpone their departure – those whose spouse or children working in the private sector therefore at risk of unemployment, can you imagine, for example. Finally, "pending categorical measures": the revaluations of this or that body have increased since the beginning of the quinquennium, under the promise of Nicolas Sarkozy to "give back" to staff the savings generated by the non-replacement one out of two.
The end of "ages cleavers"
The Superannuation is calculated on their six months salary, a "nudge" decided during this period may lead to a significant increase in pension, they will benefit throughout their retirement!
Ultimately, the age of retirement from 58 years and 8 months in 2004 to 59 years and 9 months and a half (he is 61 years and 7 months for private sector employees). This average excludes the disabled and mothers of three children, likely to leave at any age. However it covers the categories of "active" (firefighters, police officers, prison guards, air traffic controllers, who can go so far from 50 or 55 years), who quit work an average of 56 years and 7 months, and other agents who remain in office until almost 61 years. For the military, the departures were a little higher than expected (13,000 instead of 12,000).The average retirement age rises too, but since 2006 only: it is past 45 years and 3 months to 46 years and seven months last year.
Finally, another report indicates that the reform of special diets in late 2007, also produces its effects, especially at the station with the late "ages cleavers" causing a retreat setting automatically "only half of the agents SNCF able to retire in 2010 actually did. "
U.S. equity markets remain in the green Thursday after finished up Wednesday. At closing, the Dow Jones advance of 0.36% at 12,605 points, the Nasdaq climbed 0.30% to 2823 dollars and the S & P up 0.22% to 1344 dollars.
Bad news on housing front
On the macroeconomic front, good news came on the side of the job: the weekly jobless claims declined in the United States during the week to May 14, at 409 000 438 000 cons (revised) the previous week, said Thursday Department of Labor. Economists on average had expected 420,000 registered unemployed.
In contrast, the index of business conditions from the Federal Reserve Bank of Philadelphia came out sharply lower in May and has largely missed expectations, reaching its lowest level since October 2010. This index falls to 3.9 in May against 18.5 in April.Similarly, sales of existing homes fell against all odds in the U.S., 0.8% in April compared to March to 5.05 million units annualized, announced Thursday the National Association of Agents Real Estate (NAR). Economists polled by Reuters expecting an increase of 2% to 5.20 million
Oil, which flirted with $ 100 in early trading, fell as a result of this bad news. On the New York Mercantile Exchange (Nymex), a barrel of light sweet crude for June delivery ended at 98.44 dollars, down 1.66 dollars compared to the previous day.
Morale is not the highest in the markets since the announcement of the coming recession in Japan. The gross domestic product (GDP) of the Archipelago fell 0.9% in first quarter 2011 compared to the previous (-3.7% annualized).This dip in economic activity is related to the earthquake and tsunami of 11 March.
Side currency, the euro rose sharply against the dollar at the dollar closed at 1.4309 dollars against 1.4236 late Wednesday.
LinkedIn flew more than 130%
Ford (-0.07% at 15.11 dollars) and Automotive Components Holdings sold their fuel tanks in Michigan at Inergy Automotive Systems.
In the same sector, General Motors (-0.25% to 31.44 dollars) has announced it intends to produce 60,000 Chevy Volt next year, or 30% more than was initially anticipated. To increase the production rate, it will first close the plant for four weeks in June.The U.S. has thus positioning itself to Nissan, which will not produce more than 20,000 Leaf its electric models in the U.S. until 2013.
Moreover, according to Bloomberg, Chrysler (pay its debt of 7.5 billion dollars in U.S. government and Canada early next week. The Italian Fiat will open the way to mount a capital of Chrysler, up 46% , against the 30% stake today.
A panel of experts advising the European Commission recommended a stricter location data recorded by mobile smartphones.Apple (+0.19% to 340.53 dollars) and Google (+0.27% to 531.25 dollars) are on the front line.
Limited Brands (-3.89% to 40.80 dollars) posted earnings per share (EPS) in the first quarter against $ 0.4 $ 0.39 $ 0.25 and waited a year earlier, and that a turnover of 2.2 billion, up 14.8%. For the current quarter, the group expects an EPS of 0.38 to $ 0.43 against $ 0.36 last year.
Also note, the SEC, Constable American markets, has opened an investigation into possible failures of computers on several stock exchanges, the Financial Times. U.S. markets Constable believes that internal controls are inadequate in many operators, including Nasdaq.This type of failure could be the cause of Krack flash occurred on Wall Street in May 2010.
Furthermore, the professional network LinkedIn (108.20% to 93.80 dollars) managed his first steps on the Exchange. In a statement, the company stated that it had placed 7.84 million shares at a price of 45 dollars, while it provided a range between 42 and 45 dollars. These total $ 352.8 million. In detail, 4.828 million shares were sold by the company, which raises and $ 217 million, while existing shareholders have sold a little over 3 million titles.
Latin America is the region where foreign capital has increased the most last year – 40% – totaling $ 113 billion. And this in a global context where, for the first time, emerging economies exceed developed countries in terms of FDI (foreign direct investments), with 53%, says a report by the Economic Commission for Latin America UN (CEPAL).
In two years, from 2007 to 2010, the share of Latin American countries has doubled, from 5 to 10%.Brazil remains the locomotive of the continent, buoyed by a market of 190 million inhabitants, significant mineral and oil resources and the organization of two major sporting events, World Cup and the Olympics.
Between 2009 and 2010, FDI was almost doubled in that country to $ 48.5 billion, followed by Mexico (17.7), Chile (15.1 billion), Peru (7, 3), Colombia (6.8) and Argentina (5.2). "The first four have good credit rating credit rating agencies. In contrast, Argentina is penalized by a poor image, linked to the debt problem and the continuing dispute with the Paris Club.Its sovereign rating is a bit harsh and does not reflect economic fundamentals, "notes Bénédicte Baduel, Natixis.
Temperature Alert
Venezuela and Ecuador, the very dirigiste regimes of Hugo Chavez and Rafael Correa, who made numerous nationalizations, investors cool. The novelty of the year, also notes the CEPAL, the growing weight of China, who arrived with nearly $ 15 billion spent on mergers and acquisitions, third (9% of investments), behind United States (17%) and Netherlands (13%). Almost all concentrated in the exploitation of natural resources to fuel its growth.
The Executive Secretary of CEPAL, Alicia Barcena, the rest has warned against an excessive concentration of FDI in this sector."We are concerned because we are witnessing a reprimarisation economies," she said, lamenting the lack of investment in industry, technology and services. This is also explained by the sharp appreciation of currencies – the Brazilian real has gained almost 40% in two years – which makes them less competitive manufactured goods.
Despite the risk of overheating, fueled by a surge in capital inflows and a surge in inflation, the United Nations expect a rise of 15 to 25% of FDI in 2011 across the continent.
An egg purple symbolizes the new union between Alstom Transport and RATP. According to its creators, it should bloom in two years, during the presentation of the train driver "automatic subway of the future."
Pierre Mongin, president of the RATP, and Philippe Mellier, his counterpart of Alstom Transport, said Tuesday in Dubai, which is the international exhibition of public transport, creating a business research and development expert in automatic metro .Metrolab, equally owned by both companies, has a few tens of millions of euros to develop by 2013 a prototype automated metro.
With Metrolab, Alstom and RATP will "provide solutions to large communities fully automated urban and suburban transport, and develop complete systems, including infrastructure, rolling stock, signals, passenger information, operation and maintenance.
A promising market
Fifteen experts from both companies attached to it. "We will draw together the underground of the twenty-Philippe Mellier ensures, for whom this new company is promising. The global market for automatic metro is 13 billion euros by 2015.This is the first time a joint venture is created in this specialty. "
"The creation of Greater Paris has served as a trigger to our approach," said Pierre Mongin. Usually, the RATP buys its equipment from Alstom, a leading provider, or other. Now is the Society of Greater Paris who will choose his equipment. "For the first time, we move from the position of buyer to the producer," says the boss of the authority, which campaigns for a new automatic line to extend up to 14 airports in Paris. "But we do not want to venture into a job that is not ours, says Mongin. We took the best and most powerful. "
Together, both partners share 70 years of experience in public transport. According to them, only the AGT is able to respond to congestion problems encountered in large cities."It's the only problem-solving capabilities, ensures Pierre Mongin. If you want to increase their speed, simply press a button. It reduces the waiting time between trains safely and is able to operate with existing infrastructure round the clock. "RATP has been the experience in Paris: after line 14, she began to automate line 1.
Alstom and RATP have undertaken projects in Singapore, Lausanne, Cairo, Shanghai, Caracas. They hope that the Greater Paris added to the list.
The mobile world is preparing for its second revolution. After arriving on the market for smartphones in the iPhone, which has forced all manufacturers to revise their offer, it is the turn of Android, Google, lead the dance.
War of the operating systems takes place, while the smartphone market is exploding. In 2011, he is expected to grow by 57.7% to $ 468 million terminal on 1.5 billion phones sold worldwide. "By 2015, 67% of devices will have an average selling price of 300 euros or less, proving that smartphones are finally truly democratized," said Roberta Cozza, an analyst at Gartner.
Android even gave himself a 49% OS market
This development will benefit from the late 2011's operating system (OS) from Google. It has the commercial strength of the brands that have chosen, including the Korean Samsung and Taiwan's HTC.Android dethrone the end of Symbian OS, Nokia, says Gartner in its latest study. Next year, Android even gave himself a 49% OS market. Hegemony held until 2015 at least.
In this environment, IOS, the operating system from Apple, would preserve for the next two years its position as number two worldwide. A feat considering that Apple has finally a terminal object to the plethora of competitors. Gartner predicts, however, that Windows Phone (Microsoft) would delight the second step to Apple in 2014, due to the pricing strategy observed by the mark.
It focuses on maintaining its margins, and thus prices, to gain market share no credit check payday loans. This policy has no reason to change in coming years, especially as the market exploded in volume. Moreover, Apple has gone before and RIM BlackBerry.The Canadian should, however, managing to maintain, driven notably by the renewal of its range.
The fall of Symbian
The second passage of Windows phone would largely due to its alliance with Nokia. The market shares of the current world number one in the mid-range and reputation should allow Windows to Phone fivefold his presence on. Nokia, the performance is "honorable," says Gartner, but still very far from what Symbian OS Nokia has done in the past. Two years ago, it was instead of Google. However, by 2015, Symbian should completely disappear.
Such prospects have already been costly to Nokia. Finnish likely cede its leading global manufacturer of mobile to Samsung by the end of the year.In value terms, Nokia has just been dethroned by the number two in Asia, HTC, notes Bloomberg. Action HTC has tripled in one year, while Nokia sold 19% of its value. Now, HTC is not preceded by Apple and Samsung. The Taiwanese display an operating margin of 16% against 7% for Nokia.
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Unemployment in the eurozone has reached down to below 10% in February, a first for over a year. It amounted to 9.9%, against 10% in January (revised upwards by 0.1 percentage point from the first estimate), according to Eurostat. The unemployment rate in all 27 countries of the European Union amounted to 9.5% in February, against 9.6% in January.
"One point does not make a trend, tempers Frédérique Cerisier, economist at BNP Paribas. For several months we see a stabilization in unemployment in the eurozone, and we can only hope that the decline begins in the first six months of 2011. "In February, the resilience of employment in Germany, which decreased 6.5% to 6.3%, pulled down unemployment in the area.
The number of unemployed in the euro area amounted to 15.7 million in February, down 77,000 from the previous month."The unemployment rate the lowest were recorded in the Netherlands (4.3%), Luxembourg (4.5%) and Austria (4.8%) and highest in Spain (20.5 %) ", said Eurostat.
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The Nikkei index of Tokyo Stock Exchange ended the session on Wednesday a drop of 2.43%, a plunge of 261.65 points. The index tracks the 225 stars of Japan and ended at 10,492.38 points. The broader Topix index of all titles of the first painting sold for its 20.83 points (-2.16%) to close at 942.87 points.
Investors fear that higher oil prices due to events in the Middle East, particularly in Libya, has a negative impact on the financial situation of enterprises and household consumption. Witness to this concern, the gold, which reached a new historic peak, to 1435 dollars.
The strength of the yen against the dollar also worried shareholders groups Japanese exporters. The greenback stood Wednesday around the 82 yen.Opportunistic sales also likely accentuated the downward trend, noted dealers quick guaranteed personal loans.
Scholarships in India and Bangladesh in the green
Same trend in other countries in the Asia-acific: the Hang Seng in Hong Kong was down 1.77% to 22,983.38 points in Shanghai, the CSI fold from 0.71% to 3231.69 points. Singapore's Straits Times declined 0.85% to 3041.47 points.
Only exchanges in India and Bangladesh are spared of the game In Mumbai, the BSE climbing 3.5% to 18,446.50 points.To recap, India announced Monday an increase of nearly 12% of its annual budget to defense, in a context where the country is engaged in an extensive program to modernize its armed forces, and up 17% the budget devoted to social expenditures for the year 2011-2012.
At Drac, the FSD is flying from 7.66% to 5601.60 points, while heavy snowfall has plagued the index for several weeks.
"Private sales, Facebook, Meetic, Boursorama lequipe.fr and top sites are most visited by employees in the office," says Jean-François Beuze, president of SIFAR, computer consulting company. While surfing the Internet at work for personal purposes is not a new phenomenon, there is increasing with the rise of social networks. What is not without consequences.
According to the latest annual survey conducted by Olfeo, expert on Internet filtering, this would mean a fall of 14% of workforce productivity.In 2010, according to this study, employees spent 94 minutes per day on the Web, 63% for personal purposes, which accounts for 29.5 days a year! Sponsored listings: blogs, forums and social networks (20%), followed by news sites (17%), recreation (16%), e-commerce (13%) and streaming (11 %).
Faced with this situation, how companies react? "There are three types of attitudes, notes Jean-François Beuze. Those who do leave, and those that prohibit those who govern. "
In the first category, SMEs and SOHO who rarely have the means to address the problem. In the second and third, the big companies. "20% are in a sense to ban iron fist of anything that does not affect their business," says Emily Snow, marketing director at Olfeo.
Representing the bulk of the troops, others have a more flexible position."For example, access may be allowed between 12 and 14 hours and a weekly quota granted to view the banking sites," said Emile Snow no fax payday loan. As regards access to social networks, may be authorized for business purposes. "
In some companies, their use is unavoidable. "At Alcatel-Lucent France, it is naturally possible to access to social media in a free, as information technology and communication are our business," says Burnworth, head of social networking group. As for personal use, it is within the limits of reasonable and consistent with our code of conduct. "
IT Charter
"If an employee spends his life on Facebook, it ends up seeing," says Lionel Hovsepian, Sales Manager Southern Europe at Mitel (communications solutions).Beyond productivity, he found that the presence of employees on social networks is dangerous in terms of "online reputation" and disclosure of information as they may spill outside their workplace. "It is absurd to prohibit, we must educate," he insists. Mitel has developed a code of ethics and online training.
Lawyer, Alain Bensoussan, Mathieu Prud'homme advises companies to adopt a charter attached to the computer rules. "It is indispensable to define the rules for Internet use on the workplace when the employer is responsible for acts committed by its employees."
