Business & financial news headlines » world

admin — Tue, 15 Nov 2011 23:20:18 +0000

Financial markets now include in their forecasts scenarios of "extreme risk" in Europe. Among these include a breakdown of the single currency, an outflow of Greece to the euro, but also larger countries such as Italy or Spain. The widening of spreads between countries in the euro area shows a clear divide between North and South. France is in the middle, but it looks more and more dangerously on the side of vulnerable countries instant payday loan.

The current political developments in key countries of the South do not seem to reassure markets. The departure of Silvio Berlusconi and his replacement as head of government by Mario Monti has not calmed the markets doubt the ability of the new chief executive to impose Italian program of deficit reduction required by the European Commission .

admin — Mon, 31 Oct 2011 21:36:09 +0000

Air France-KLM is one of the biggest disappointments of this year the stock market. Title drop 59% since January 1. The strike, which lost, according to our calculations, about 10 million per day to the company, is only one element in a more negative balance very dark.

"There is no question that I invest in this action. There is no visibility. They mastered neither the personnel nor the cost of oil prices. They face strong competition from other companies, "said one portfolio manager bad credit payday advance. This opinion, indeed radical, summarizes the weariness of many managers who do not want to invest in Air France KLM.

The numbers speak for themselves. Market capitalization is more than 1.67 billion euros, less than 7% of annual sales and less than 25% of equity. The group is in any case weighed down by a net debt of 6 billion euros.

admin — Fri, 28 Oct 2011 22:32:13 +0000

The government wanted to know the outcome of EU summit Wednesday evening, presented as crucial for the future of the euro area, prior to revise downward its growth forecasts. Despite the success of the meeting of the seventeen member countries of the euro area, which found the night of Wednesday to Thursday an agreement to stem the crisis at the moment on the Old Continent, the head of state n has been recognized that the Thursday night: the economy would not be up to expectations next year.

Until then, Bercy expected a GDP growth of 1.75% in 2012. But since the beginning of summer, the situation has deteriorated considerably. "For the sake of seriousness, we decided to lower our forecast to 1% next year," said Nicolas Sarkozy, who is aligned and the assumption by our German neighbor.And, near the line thickness, on the average forecast of economists (0.9%).

To keep the deficit targets despite this deterioration – and this is the top priority – must be found "6-8000000000" euros in savings or additional tax revenue next year, said Chief of the state.

Nicolas Sarkozy has asked Prime Minister Francois Fillon, with Valérie Pécresse (Budget) and Baroin (Economics), floor of the copy. And this new austerity program will be announced "in ten days," just after the G20 which takes place in Cannes.

What is certain is that "we must spend less on operating and investment to support growth (…).But calling for a tax harmonization with Germany, the president did not rule out the idea of raising the reduced rate (set at 7% across the Rhine at home against 5.5%) or the introduction of an intermediate VAT rate (between 5.5% and 19.6%) for products now subject to a reduced rate (catering, building …)

It announces clearly no "social VAT" – renamed "VAT antidélocalisation" to the UMP – hypothesis was raised in the procession of the tracks in the study. He implicitly endorsed the idea but has returned to the next presidential debate "in a few months."

However, companies should be tapped. Address the tax differential between multinationals and SMEs is a carrier. It is almost assumed that the new austerity plan will include a surcharge of corporate tax targeted at large enterprises.

admin — Mon, 12 Sep 2011 14:32:16 +0000

Societe Generale against attack. According to information from Figaro, the bank has launched a summons for defamation against the British tabloid Mail on Sunday. The Sunday newspaper had published an article on August 7 with Societe Generale "at the brink of bankruptcy after terrible losses from its exposure to the Greek debt." This article was the catalyst for the spread of rumors and scare many of the French bank, throughout the months of August and since the beginning. With the key, a downward spiral of its share price.

After obtaining an immediate apology from the British publication, the Company generally does it not stop there. She wrote, according to our sources, from August 18, by law, a letter of assignment to the Mail on Sunday, saying she has suffered damages and seeking compensation instant payday loan lenders.The next day, the newspaper responded by acknowledging his mistakes and offered to pay 1000 pounds to a charity. On 1 September, the French bank has sent a second letter, noting that the magazine acknowledged its mistakes and requesting payment, this time a million pounds to the "charity" of choice. Last week, the tabloid merely replicate that he would study the issue.

Both parties are there. If the Mail on Sunday does not comply, according to our sources, the Company generally will rise to the second phase of its assignment by entering a London court.

Besson: "Nuclear power, a choice of reason"

admin — Fri, 08 Jul 2011 16:08:17 +0000

"Nuclear power is one reason for the choice of France, not a choice of passion," said Eric Besson justified this Friday morning on Europe 1 radio. Recalling that the energy brought to France an "energy independence" and that it limited the emissions of greenhouse gases, the Minister of Industry, Energy and the Digital Economy has reported that "the certainty absolute "that electricity prices would be higher for the French consumer without nuclear.

The minister, however, announced that a "great foresight exercise", called "Energy 2050" was launched on Friday, "few hours". "We will study all possible scenarios (…) the energy mix for years to come."

No cases will be avoided, he said, "including so-called scenarios of nuclear power," even if "no belief" or "the choice of the Government and the President of the Republic." "To say 'out nuclear power', it means nothing, he said. What is interesting is to know where it is replaced, what consequences for the dependency [energy], how much it costs to businesses and consumers and with what consequences for greenhouse gas emissions. "

The program, which provides an "analysis of energy demand in France and the world" and "all sources of production" will be led by "the services of Bercy, with a number of experts and personalities independent, "the minister said without giving further details.

Fessenheim: no suspension or moratorium

Eric Besson has also confirmed that the Fessenheim nuclear power plant in Alsace will not be subject to suspension of its business, or a moratorium. "The Nuclear Safety Authority, which is totally independent of political power, EDF has given permission to stay in business for ten years subject to a number of works. So Fessenheim continue its business, "he added.

But he added that "Fessenheim be subject, like all French nuclear power plants in Fukushima post-audit," an audit requested by the government to learn from the nuclear disaster that occurred in Japan in March. "The nuclear safety authority may make other decisions," he said.

Schneider accelerates the intelligent network

admin — Thu, 02 Jun 2011 06:56:08 +0000

Schneider Electric's leaders have identified three growth levers: emerging markets, energy efficiency and smart grid, that is to say the smart grid. The latter two signed a necessary change of electric supplier, which can hardly grow by selling only its traditional products. With the new positioning of the group, they are made "intelligent" through software to measure and adjust the power consumption.

The acquisition of Spanish Telvent is a new step in this strategy initiated several years. Telvent is indeed a software company, which produces 34% of its activity in the energy sector.It is also present in the transport, environment and agriculture, areas which are not directly Schneider.

French group finds that the potential related to electrical "smart" makes a significant investment. Schneider indeed pay dearly for this acquisition: 1.4 billion euros, or 36% more than the average of the last three months. Telvent, who directed last year's 753 million euros in turnover and 115 million operating surplus, has been bought are 1.9 times sales, while Schneider Electric he valued 1.4 times its turnover.

France's deficit smaller than expected

admin — Thu, 31 Mar 2011 15:28:10 +0000

The state lost less money than expected. The deficit amounted to 7% of GDP at the end of 2010, against 7.7% forecast in the government budget, INSEE reported Thursday. "It's really a remarkable achievement," responded the Minister of Economy Christine Lagarde, on Radio Classique. "France, very clearly, not only keeps faith deficit but goes beyond."

Even if the deficit is less bad than expected in 2010, it remains well above the limits allowed by Brussels (3% of GDP). As the debt reached a record level. Fueled by the deficit by 2010 and previous years, it rose to 81.7% of GDP.

If the deficit is better than expected, it is largely because state spending has decelerated sharply from 4.1% in 2009 to 2.1% in 2010.In constant euros, that is to say, excluding the effect of inflation, the increase is limited to +0.6%, welcomes Bercy in a statement: "This represents a significant inflection, well below the pace of average growth of 2.3% in volume over the past ten years. "

Expenses well controlled

"Social spending has been tightly controlled, health spending rose in line with expectations for only the second time in ten years and pension spending rose less than expected," Dominique Barbet analysis, economist at BNP Paribas.

This result is also explained by "a backlash effect, following the implementation of the Recovery Plan in 2009, and thus the automatic loss of spending in 2010, Insee said quick pay day loan."Social benefits slow (+3.4% after +5.5%), especially because unemployment benefits (after +8.1% +21.2% in 2009) and non-renewal of premiums paid in exceptional As part of the recovery plan, "said the French Institute of Business.

Better collection of taxes

On the other hand, the economic recovery has led to better tax collection. Revenues, after falling 3.8% in 2009, rebounded by 3.1%, but regain their pre-crisis level. This dynamic relation to taxes on income and wealth (+9.3% -16.5% after) or VAT (5.1 billion euros after -6.8 billion euros). The Government also welcomes a cost lower than expected business tax for the state, even if, INSEE said, it "translates into lower taxes on business."

Paris has committed to reduce to 6% in 2011, 4.6% in 2012 and 3% in 2013. The good performance in 2010 makes mechanically objective for 2011. "It seems likely now that the deficit will be lower than expected this year," said Dominique Barbet.

The budget for next year will be presented in mid-April before parliament before being sent to European institutions. Bercy promised on Thursday to bring the deficit "below" even 3% in 2013.

The Paris Bourse ends in a narrow green

admin — Tue, 29 Mar 2011 22:24:12 +0000

Very hesitant meeting Tuesday on the Paris Bourse. The CAC 40, who played yo-yo all day, finally chose the green fence. He finished with a gain of 0.27% to 3987.80 points, and yet is close of 4000 points.

The CAC 40, which had earlier lined up four sessions, fell victim to profit taking during the session. Investors remain concerned about the situation in the Middle East and Japan, do indeed play the card of caution. "Too many uncertainties remain heavily to buy stocks," says Franklin Pichard, director of Barclays stock. I can not believe that the Cac 40 lasts longer. The correction is inevitable. "

Other major European markets have followed the same path. The London Stock Exchange gained 0.47% to 5932.17 points after playing in the red much of the day.For its part, the DAX 30 Frankfurt Stock Exchange dropped 0.76% to 6886.14 points.

On the macroeconomic front:

– Expenditure on household consumption of manufactured goods rose 0.9% in February after falling 0.3% in January, mainly due to a rebound in auto purchases

– The number of starts of new homes jumped 54.1% yoy for the period from December to February, while the number of building permits for these homes increased by 25.5%

– United States: the Case-Shiller housing index dropped 1.0% in January from December, as expected, and 3.1% in January 2010.U.S. consumer confidence is also falling to 63.4 in March, against a revised index rose to 72.0 for the month of February, according to data released Tuesday by the Employers' Federation Conference Board. The median consensus analysts polled by Reuters expected a general index to 65.0, with variations from 55.0 to 72.0.

Renault takes off

Renault: 2.44% to 38.39 euros

A sound document released Monday by The Express reveals that Renault knew in February that the espionage case that hit was a fake scandal. The Exchange does not seem affected by this announcement, pushing even the title of the manufacturer at the top of the charts of ACC 40.

Edenred: + 1.95% to 21.43 euros

Edenred, resulting from the division in July with the Accor hotel group, is carried by various rumors about a possible takeover of the company or paying a special dividend.

Camaieu flies

Titles Camaïeu leapt 44.05% to 209.16 euros after being booked on the rise at the opening, following agreements signed between the fund and MODACIN Modamax and major shareholders of the brand's ready- to-wear. MODACIN Modamax and controlled by Cinven fund and hold about 65% stake in Camaieu, announced on the eve of signing agreements with major shareholders of the group to purchase their hand up and was 95% of capital.The offer price is 214.46 euros, representing a premium of 47% over the closing price as of Friday, March 25 and valuing the entire company at 1.3 billion euros, or about 1.6 times its turnover.

Gemalto 2.13% to 35.47 euros

The company said it was allied to the giant Mastercard credit cards in the field of contactless payment by mobile, considered a growth driver for the manufacturer of smart cards.

Peugeot: 0.85% to 27.77 euros

PSA Peugeot Citroen has announced a gradual return to normal production in Europe from March 31.

Dexia: -0.03% to 2.87 euros

The rating agency has doubts about the financial health of three subsidiaries of which Dexia Dexia Credit Local.Moody's intends to degrade their notes.

Areva: + 0.98% to 31.39 euros

The Supervisory Board of Areva, which was held on Monday confirmed Lauvergeon to head the nuclear expert, according to BFM Business.But the State had requested the appointment of a number two.

EDF: 0.75% to 28.91 euros

The list of new members of the board of directors of Edison, controlled by EDF and the Italian A2a could be known this week, said on Monday a source familiar with the matter.

Lagardère: + 0.25% to 30.09 euros

Lagardere announced Monday the signing of the sale of its international magazine from the American Hearst, 651 million euros.

Technip: 1.16% to 74.41 euros

Technip wins contract to install subsea pipelines for the development of a field off Abu Dhabi, according to a statement released Tuesday.

Medica: +0.80% to 14.40 euros

Medica was published on Tuesday a profit of 23.2 million euros in 2010, after a loss of 13.4 million euros in 2009, and announced an increase in its activity by 15% in 2011.

Also note, investors await tonight's results after market Neopost.

Merkel in search of another candidate for the ECB

admin — Sun, 13 Feb 2011 08:28:06 +0000

Better than an official statement, an absence confirmed on Friday the Berlin waving speculation since Wednesday. The head of the Bundesbank, Axel Weber, was omitted from the Economic and Financial Advisory Franco-German gathering in Berlin, the German finance minister, Wolfgang Schäuble and his French counterpart, Christine Lagarde.

Since announcing his candidacy to the surprise withdrawal of the European Central Bank (ECB), which has overtaken Angela Merkel, the media do not broadcast in unison more than a single image: that of a man sweating big drops … As if the events of recent days had revealed a personality nerves too fragile to guide the euro out of the storm.

Axel Weber was called on Friday afternoon at another appointment, at the Chancellery in the presence of the Minister of Finance. It was for the Chancellor to push him toward the exit as quickly as possible.The president of the German central bank will leave office April 30, for "personal reasons". "His successor will be announced during next week," says a statement from the Chancellor very dry, which contains no shorthand praising the work of the President of the Bundesbank.

Jens Weidmann, 42, economic adviser to the Chancellor, who defends, as Weber, a monetary policy ultrarigoureuse, is the favorite to succeed him as "Buba".

Weber announced Tuesday night at his colleagues in the Executive Board of the Bundesbank, he renounced his ambitions to the ECB.He lamented a lack of clear support from the Chancellor in recent months, while his candidacy aroused opposition from several countries including France because of its monetary conservatism.

Liberals pledge to

For Berlin, put this former professor of economics at the helm of the ECB, was to guarantee the stability of the euro and thank you without a fight against inflation, which remains for the Germans absolute evil since the Great Depression of 1923. Within the coalition government, the appointment of Weber allowed to give pledges to liberal FDP and temper their opposition to an enlargement of the European financial stabilization (FESF). Now, Merkel may be forced to be even more intransigent on the issue of deficits to satisfy his allies in the FDP."This is a severe blow to Angela Merkel and a disavowal with respect to its European policy, has accused the leader of the opposition Social Democrats in the Bundestag, Frank-Walter Steinmeier.

Merkel now finds itself extremely impoverished. "Germany has little money makers with the right profile" to take the reins of the ECB, the daily economic Handelsblat t. The name of Klaus Regling, president of FESF, is often cited, but he has no experience of central banking. He's chief economist Juergen Stark also the ECB, but his candidacy would raise legal problems because he is a member of the Executive Board of the ECB.Friday, at the end of the economic council, Schäuble said that Berlin had never insisted that there be a German candidate for the presidency of the ECB …

Berlin could be forced to support the president of the Central Bank of Luxembourg, Yves Mersch, or the Bank of Finland, Erkki Liikanen, to bar the way to the Italian, Mario Draghi, a former Goldman Sachs. For his part, Weber saw that the media already succeeding Joseph Ackermann, the head of Deutsche Bank, could be forced to review its ambitions. The tenors of the CDU and FDP "advise" the biggest German private bank hiring Weber, considered "unstable."For its part, the opposition called for a "waiting period" of three years before the former president of the central bank can take the direction of a private bank that was responsible for overseeing.

SAP calls for a reduction of the fine for Oracle

admin — Thu, 27 Jan 2011 15:52:11 +0000

Prudent, SAP has set aside nearly one billion euros in additional accounts (930 million) to carry damages of $ 1.3 billion that has been inflicted on the United States in its lawsuit against Oracle. "We respect, justice of the United States and U.S. judicial decisions. But the penalty of $ 1.3 billion that we requested in the case of TOMORROW Now is disproportionate. Reasonable people believe the injury to tens of millions of dollars, "says Le Figaro, Bill McDermott, one of two managing directors of SAP.The German group has been accused of having acquired a company, Tommorrow Now, who stole the source codes of its main competitor, Oracle, and proposed, therefore, support services to Oracle customers illegally.

As soon as the notification of the sanction is received, "one day to another," Bill McDermott said that SAP is considering a response to "two times". SAP will request a review of sanctions, with "relief" of the fine and "reserves the right to appeal." On paper, the company takes the risk of an increase of the fine. Experts cited by Oracle, had estimated the damage at several billion dollars fast cash now. "No, I do not think so, replied Bill McDermott. A company that was making a few tens of millions of dollars in revenue can not have to pay more than a billion.Few publishers realize as much revenue. "

Record results

In 2010, thanks to a steady increase in revenues, SAP ended the year with a turnover in the software publishing grew by 19% to 3.26 billion euros, a figure of consolidated sales of 12.5 billion. A record for the company that also released earnings, excluding special items were historically high, around 4 billion euros.

Growth was the appointment as the company continued to innovate in all areas: "business applications for business, where we continued to grow at the expense of the second actor", his opponent Oracle welcomes Bill McDermott . Moreover, unlike his rival who was acquired last year Sun Microsystems and provides hardware and software solutions coupled, SAP does not enter the equipment market."We let our partners IBM, HP and Dell innovate in hardware. Our customers can deploy our solutions according to their needs and choices. "