Archive for the ‘world’ Category

Merkel faces a sharp political debate in Germany

Monday, August 15th, 2011

The trip to Paris to sign Merkel kicks off the season policy of German Chancellor. And it is not the easiest, as the European issue is sensitive across the Rhine. As often, the perception of this meeting the Franco-German differs somewhat between the two capitals. In the entourage of the Chancellor, there is little appreciated that this mini-summit is presented as a response to recent market fluctuations, while the appointment was set in Paris for many years.

On the merits, Germany continues to advocate for the export of its business model to other European countries and calls for reforms to improve competitiveness. For the rest, particularly with regard to assistance to States in need, remains intransigent. The President of the Bundestag has also warned that the plan of aid to Greece would not be adopted in September as planned.Contrary to what the Chancellor promised its European partners.

For the subject "is so important that the Bundestag can not examine it in a few days with the necessary attention. And the Bundestag itself decides how much time he needs, "hammered Norbert Lammert (CDU). This reference indefinitely slingshot echoes the deputies of the majority, offended to be confined to the role of registration of the major decisions on the euro area. Between 25 and 40 of them could not vote for it, according to estimates. Not enough to prevent its adoption as the Greens and Social Democrats (SPD) have already announced they would vote for. However, the balance of the majority is at stake if the number of defections on the right is important payday loan.And the chances of the Chancellor to come to his estate in 2013 will be weakened.

"Treasurers of Europe"

Always keen to show his concern for good management of public funds, the finance minister, Wolfgang Schäuble, dismisses the idea of ​​European bonds, "as the Member States to practice their own fiscal policy." The word remains taboo eurobonds in the ranks of allies of government, CSU and FDP, "the devil's work" as one commentator has called ironically the Spiegel. Spokesman for the financial matters of the CDU-CSU, Klaus-Peter Flossbach, "Europe does not need to eurobonds but strong budgets. And budgets are achieved with strong economies, not with Eurobonds. "

"Are we becoming the treasurers of Europe?" Questioned this weekend the newspaper Bild.The liberal party (FDP) is threatening to break the coalition agreement if it came to the idea of ​​Christian Democrats to take this direction. Because the option of Eurobonds would be well on his way within the Conservative party if we believe Die Welt.

Angela Merkel, always cautious and pragmatic, the idea is not yet ripe. While the latest polls give the Germans more Euro-optimistic: 2 out of 3 respondents believe that the currency will still exist in 10 years and 53% believe that the euro crisis is not going to get worse in a year .

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Saturday, August 13th, 2011

Orange did he reckless? In an internship this week published on its website, the telephone company revealed some clues about the future model of the iPhone Appel keeps top secret. Orange are to believe the arrival of the new smartphone could be a big impact "on consumer Internet customers." Apple secrecy to keep the new model of its smartphone, the smallest bit of information about the device is hounded by fans of the brand. The operator did not comment on the information.

In the job description, statement by the site Mac4ever.com, Orange says that "one of the main issues the mission will be to define as precisely as possible the impacts of a device like the iPhone 5 on the consumption of internet customers ". A little further, it is discussed again the technical capabilities of the "iPhone 5" citing a "change of use induced no faxing payday loans."The course, whose duration is not specified, is offered to any candidate of a "bac +4 or 5", "training business school, university marketing or engineering course."

Leakage and clues

For now, the new model of the firm at the apple does not even name, but fans call him the iPhone 5. Apple intends to spring a surprise at the presentation, probably in the fall of the device by the big boss Steve Jobs. But a few leaks have already created a stir on the Web. Thus, prototypes of covers for the unit exposed on the Internet suggest that the phone is thinner and has a larger screen.

Some new features expected seem to motivate the concern of Orange on new uses for its customers.

Wall Street ended the session on a clear upward

Friday, August 12th, 2011

As in Europe, Wall Street rebounded sharply on Thursday after a session that saw the Dow Jones plunged by 4.6%. After opening up 1.25% at 10,854 points, the Dow Jones increased its earnings in mid-day. It ends with a sharp increase from 3.95% to 11,143.31 points. Nasdaq rises from 4.69% to 2492.68 points and the S & P 500 climbed 4.63% to 1172.64 points.

After being attacked the night before, banks rebound and take the rating up: Bank of America takes up 6.50% to 7.21 dollars, JPMorgan Chase 6.49% to 36.60 dollars, Citigroup 6% to 30, 20 dollars and Wells Fargo 5.94% to 24.24 dollars.

The energy sector, also roughed up yesterday, today contributes significantly to higher indices, like the ExxonMobil oil (5% to 71.43 dollars). This increase is in the wake of oil prices that ended up on the New York Mercantile Exchange (Nymex).A barrel of "light sweet crude" for September delivery finished at 85.72 dollars (2.83 dollars the previous day).

Good news on employment front

The Dow Jones has further accelerated its rebound at the start of the last hour of trade, in a speech by U.S. President Barack Obama to ensure that there was always the possibility of taking measures to "help accelerate growth and job creation. "Investors also had a renewed confidence in the announcement of a meeting between French President Nicolas Sarkozy and German Chancellor Angela Merkel on Tuesday in Paris to discuss the reform of the governance of the euro area.

Also on the macroeconomic front, some good news also reassuring: the weekly jobless claims declined in the United States during the week to August 6 at 395,000 against 402,000 (revised) the previous week, said Thursday the Labor Department. Economists on average had expected 400,000 jobless.

On the front of the U.S. housing: the number of dwellings within the scope of foreclosures fell in July to a low of four months in the United States, according to a study released Thursday.Loan defaults, seizures and sales of bank foreclosures have affected 212,764 properties in July, a low not seen since November 2007, according to the firm RealtyTrac.

Note however that the country's trade deficit widened further in June according to figures released Thursday by the Commerce Department, reaching its highest level since October 2008 as a result of a sharp decline in exports.On a seasonally adjusted, the deficit reached 53.1 billion dollars against 50.8 billion (revised) the previous month, while U.S. exports fell by more than 2% over the month.

Cisco did better than expected

On the corporate side, the telecoms and IT supplier in the U.S. Cisco (15.95% to 15.92 dollars) on Wednesday issued an annual net profit down 16.4% to $ 6.5 billion, and a profit in the fourth quarter, down 36.3% to $ 1.2 billion. However, both figures higher than expected.

The media group News Corporation (18.09% to 16.19 dollars) to Rupert Murdoch, shaken by the recent wiretapping scandal in Britain, tried to reassure on Wednesday, its investors by issuing a profit annual increase."Although this was a good quarter of a financial point of view, our group has faced in recent weeks to problems with our London tabloid News of the World", accused of having carried on tapping some 4,000 people in the 2000s, said the group's CEO, Rupert Murdoch, in a statement.

In addition, Google (2.39% to 562.13 dollars) is followed. The investigation by U.S. authorities in charge of Competition (FTC) about a possible abuse of dominant position of Google, announced in June, focuses on the Android operating system and the search engine, we learned on Thursday in the Wall Street Journal.

No major publication is expected this weekend. It will take into effect until next Tuesday for Home Depot, Walmart and Dell publish their interim results.In the meantime, Monday, August 15, Estée Lauder will unveil its third-quarter figures.

The Fed is concerned about growth

Wednesday, August 10th, 2011

After the European Central Bank (ECB), it's time for the U.S. Federal Reserve (Fed) to dive into the arena. The Central Bank of the United States met on Tuesday FOMC's Monetary Committee. Supposed to be, usually, a meeting classic, this appointment has turned the eyes of the financial world in crisis meeting. It is indeed the first time the Fed meets in public since the beginning of the financial crisis and especially his first public speaking since the deterioration of the financial rating of the United States by Standard & Poor's.

Not surprisingly, it has maintained its key interest rates between 0% and 0.25%. However, she said that this policy would be extended "until mid-2013," sign it receives considerable stress on growth. In fact, she says, "the risks to the economy rose" and growing "considerably slower than expected."

Other measures

"The Fed is playing a tough game with the words, it must show it is taking the situation seriously, without making too much not that the markets are worried about a return to recession," said Philippe Bruneau, Director central bank Neuflize OBC. For the latter, "the only good news for the current crisis is the drop in oil prices, which dropped below the 80 dollars a barrel after reaching $ 115 in the spring. A decrease of $ 10 is equivalent to 0.3 percentage point of growth in addition to the United States. " It is not certain that the message of this evening of the Federal Reserve reassured. Especially since three members of the Monetary Committee voted against the decision to keep rates from 0 to 0.25% until 2013.Evidence that the division now also prevails in the central bank.

Taking note of the slowdown in action, the Fed said "consider further steps to promote stronger economic growth." But without saying more. "Ben Bernanke was forced to send a message to investors and told them that he will continue to support the price of U.S. government bonds, weakened by the S & P's decision," said Antoine Brunet, director of AB Markets.But by not precise commitments, Ben Bernanke shows how the scope is narrow to implement this new policy unconventional.

China, the first lender in the United States which it holds more than 1.3 trillion dollars in debt, is fiercely opposed to these measures, particularly in quantitative easing, which is for the Fed to directly purchase U.S. Treasury debt. "To walk the printing press allows the U.S. to go into debt on the backs of low-cost external creditors," a summary of the economists of HSBC. Moreover, "it keeps the dollar at low levels and put pressure on emerging currencies, including the yuan." The Chinese authorities find themselves faced with an alternative: let their currencies appreciate or prevent this movement, which requires in turn create the currency.Action inconsistent with their goal to fight against inflation (see cons below). "In one way or the other, China is losing, 'the experts of HSBC. The previous quantitative easing campaign was very unpopular in China. A new one could cause actual casus belli. With the key threat by Beijing to stop buying U.S. Treasuries.

Difficult to recover the "AAA" when it was lost

Sunday, August 7th, 2011

S & P is the second rating agency to downgrade the American note, after the Chinese – less powerful – Dagong, others – mainly the U.S. Moody's and Fitch French – for the time remaining in triple A. Now rated AA + long term debt of the United States remains in the investment category of "high quality" and joined the second and third world economies, namely China and Japan, as well as Belgium, Spain , Israel, Taiwan, or even oil-rich countries like Saudi Arabia and Kuwait.

But it is possible to recover the triple A when it was lost. Canada, Australia, Denmark, and Sweden Finande did. Of course, the United States will do everything to return to their "AAA" precious. But the task will be tough, as it will maintain over the long term, strong pressure on fiscal discipline while scaffolding better understanding at the political level.

Political consensus to find absolutely

Indeed, in the case of their Canadian neighbors, the return of Triple A in 2002, had been lost – again by S & P – in 1992 on its debt denominated in foreign currency, was possible thanks to the introduction of fiscal measures severe that the subject of a strong national consensus, which seems far from possible for the United States.

Similarly, three Scandinavian countries also known for their ability to consensus politics have seen their efforts to improve public finances crowned by the return of a "triple A" lost year 1990: Denmark 2001, Finland in 2002 and Sweden in 2004.

Australia is one model may be more difficult to imitate. This country has lost in the 1986 'AAA' rating assigned to its foreign currency by S & P, to find him in 2003.During these 17 years, Canberra has demonstrated fiscal discipline inflexible, stopping in 1997 to increase the amount of its debt in dollars. Growth has surged with the transformation of the economy, modernization of the financial system, deregulation of many sectors that had lost their competitiveness and development of a powerful mining industry has benefited from China's economic takeoff.

Economy to restart

Jean-Michel Six, chief economist for Europe Standard & Poor's has expressed in the columns of Le Figaro, six months ago that the economic figures released in the United States show that the country remains fragile, particularly at the front of the employment and real estate. "In the U.S., including employment prospects are very disappointing."While yesterday (Friday), the figures – the United States have created 117,000 jobs in July – have eliminated any disaster scenario on the U.S. labor market, performance is modest. As for household consumption, "it is significantly weakened by the debt levels of Americans," added the specialist. Overall, "the year 2011 should result in a 2% growth, which is very disappointing for the U.S., where the pace of activity is generally much higher than in Europe."

According to the latest figures on U.S. growth, GDP grew by only 1.3% annual rate. Economists expected a 1.8% increase. Worse, the growth of the first three months of the year, previously estimated at 1.9%, was revised sharply downwards to 0.4%. And the largest economy in the world did she not really recovered from the 2008 crisis.Fears of a slowdown in U.S. growth, and global markets have panicked the last ten days.

Fiscal side, the U.S. accumulated a debt exceeding GDP are: since August, the debt ratio exceeds 100%, as is the case in Japan or Greece.

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Japan plans to phase out nuclear

Thursday, July 14th, 2011

Naoto Kan had given up the plan for the increase this share to 50% in 2030. If the engines stopped slow to restart, power cuts and rationing of electricity in Japan is already feeling the heat of summer will increase guaranteed pay day loans.

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The euro zone no longer excludes a "partial failure" of Greece

Wednesday, July 13th, 2011

While markets plunged Monday on fears of contagion from the debt crisis in Europe, central bankers in the euro area have tried to reassure. "This is to resist the risk of contagion" in Italy, which seems to be the new target markets, or to Spain, and "maintain financial stability in the euro area," said the head of the Eurogroup Jean-Claude Junker. Europe and the tent she set up a second country assistance plan, and in this context, the working group to find a solution to save the country from bankruptcy does no longer a " partial default "of Greece.

Late Monday night, the finance ministers of the euro area, following a meeting that lasted nine hours, have launched a series of runs measures: they were willing to increase the size of the Financial Assistance Fund , now has a lending capacity of 440 billion euros.They are also considering a "lengthening of maturities of loans" made to give more time to countries in difficulty to repay their debt and reduce interest rate loans to Greece. Other measures are also being considered to "improve the sustainability of government debt." But no specific plans to support the country, however, has been announced. What angered the Prime Minister George Papandreou who believes that "there is no room for indecision and errors", and regrets that European leaders are indulging in "cacophony". And even more disoriented European stock markets.

For its part, the executive director of the International Monetary Fund, Christine Lagarde, said she, that the effort of Greece to reduce its budget deficit is still "not enough". The patron of the institution has also sought to reassure over Italy cash advances pay day loan.While the surge in borrowing rates to 10 years in Italy has shown concern on the situation of the country, Christine Lagarde said that "some of the Italian figures are excellent." She added that "it is clear that Italy is currently facing problems which are essentially driven by the markets." Former Economy Minister further stated that the rating agencies' role "without elaborate. These are singled out: besides the Brussels wants to silence forbade them to assess a country subject to an assistance plan.

The international community "can not save Spain"

But nothing works. Markets are not satisfied and the stock markets tumbling again Tuesday morning. Bank stocks have been particularly affected. In Madrid, the Ibex index lost more than 2%.The Spanish Minister of Economic Affairs, Elena Salgado, said Tuesday he was "not logical" that Spain and Italy are "affected by market volatility," because their economies are "strong and diversified. " "If we are able to transmit the determination that we all, markets should reasonably calm down," she said.

But markets, they do not see things this way: "While the international community can save Greece, Ireland and Portugal, it will not save Spain, too important contributor to the euro area" , said Monday Laurent Geronimi, director of rate management at Swiss Life Private Banking.

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The French trade deficit hits new record

Thursday, July 7th, 2011

On the international trade front, France patina. For the second time in two months, the trade deficit hit a bad record in May, -7.422 billion euros, according to figures released Thursday by the Customs. Year over year, he moved to -63.418 billion euros, against -51.558 billion in 2010.

The poor sales in May due in large part by higher energy bills in France, reflecting a rebound in imports of natural hydrocarbons. Imports, burdened by this trend, amounting to 41.601 billion euros in May, up 2.9% over three months. This figure was moderated by the slowdown of industrial imports.This, "due to lower aircraft and naval acquisitions and a decline in purchases of electronic equipment and pharmaceuticals, 'the customs.

At the same time, "industrial exports sag again," they note. Result, exports grew by only 0.9% over the last three months to reach 34.179 billion euros in May "The persistent decline in transport equipment (aircraft in May, car in April) weighs on the trend," within Customs.

"Aérodépendance"

Important position in sales abroad, but very volatile, aviation fell 6.2% over the month."We had one the last two months show some" aérodépendance "of France, aerospace accounts for more than 10% of French exports and any slowdown in performance has a very significant effect on the external accounts of country, "Analysis Alberto Balboni, an economist at Xerfi.

"The weakness also dominates," adds customs. To make matters worse, military exports shrink to 100 million euros. "Exports, unlike imports, have not regained their pre-crisis level (they are still below their values ​​of mid-2008), continues Alberto Balboni.More worryingly, France is among the major industrialized economies (excluding Japan), which recorded the lowest export growth after the trough of the crisis. "

Dynamism of Germany

Only exceptions to this gloomy picture, agricultural exports go, and auto sales. "Sales at their highest level since the crisis, particularly to improve the major partners of the European Union," according to customs.

France breaks the limits in general thanks to the dynamism of its European neighbors, including Belgium and especially Germany. Customs also stressed that "sales to Africa, however, are well oriented (automotive and aerospace, cereals, refined oil), like those in the Near and Middle East (aircraft)".In contrast, Asian economies, exports that had supported earlier this year, marking time.

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2011 a good year for the use of frames

Wednesday, July 6th, 2011

Click the preview to enlarge the graphic.

The Director General of the Association for the use of frameworks (APEC), Jacky Chatelain, a smile: "2011 will be a very good year for the recruitment of executives," said he. It will be even better than expected. Tuesday during the presentation of its traditional mid-point year, his organization has substantially revised its statistics on the rise, according to his calculations, 194,000 cadres would be hired this year, against 181,000 originally announced in February as part of the APEC business panel 2011.

These figures confirm the trends optimistic in recent months. The latest indicator Apec published in May, the number of jobs grew by 70% year on year, driven by services, led by computer functions and research and development.In addition, mobility management, reflecting a renewed confidence, has also increased from 5% in 2009 to 7% in 2010.

The reasons for this dynamism? A greater investment in the first half of 2011, from 1.9% earlier this year to 3.8%. "For three years, we have established a strong link between investment and employment," said Jacky Chatelain. On the basis of a model by connecting the executive search, investment and growth, APEC has also made a forecast of recruitment to five years.

New legislation

With an investment of 3% per year, it expects an increase in employment context, not only in the second half of 2011, but over the next four years."However, investment has not recovered its pre-2000 levels," notes the director general of APEC, citing "a problem of competitiveness of the French economy, a profitability that is struggling to recover , difficult access to credit and public investment that does not play a role. " In this context, recruitment is expected to slow over the years. According to the study of Apec, they increase by 18% in 2011 compared to 2010, then increase by 8% in 2012, 5% in 2013, 6% in 2014, and begin to decline by 1% in 2015 to be at 232,100 hires.

The year 2015 was "marked a plateau for hiring managers in a market that lacks strong enough levers," says Apec.According to Jacky Chatelain, public policy must "be sensitive to investment."

In developing this scenario, APEC has also included new legislation on retirement and senior employment, which, combined with good market conditions of employment context, would encourage more employees working from more later. Thus, the proportion of managers employed at the time of retirement may remain stable at 69% over the period.

Cyber ​​attacks: an exorbitant cost

Saturday, July 2nd, 2011

The numbers are staggering. In Germany, the financial damage caused by cyber crime amounted to 61.5 million euros in 2010, according to figures released Thursday by the criminal police and the Federation of high tech Bitkom. This is equivalent to an increase of 66% over the previous year. As the United States, the FBI estimated the cost of crime to some digital $ 560 million in 2009. A world-wide, according to McAfee, cyber crime would have generated some 1000 billion in 2008, about 1.64% of world GDP for that year. Remains that, without minimizing the scale of the scourge, these figures are perplexing.

Many experts give little credence to these studies because most of them emanate from computer security specialists. For the record, other than McAfee is the world number two antivirus software.In addition, "less than 10% of companies report having experienced cyber attacks," said Jean-Paul Pinte, senior lecturer in strategic intelligence at the Catholic University of Lille. According to the specialist risk management and cyber terrorists of enterprises affected societies fear the bad publicity due to media coverage of cyber attacks.

Jean-Paul Pinte, "we know nothing of the legacy and financial losses suffered indirectly." He added: "If an attack is to relieve a company of sensitive information, loss of data will generate multiple costs, such as loss of competitiveness, or the upgrading of security."

"Hard to get a comprehensive view"

Director of the National Security Information Systems (Anssi), Patrick Pailloux abounds in this direction."When a site is the victim of an attack, he takes as an example, it is first blocked, causing a shortfall. Then we must add additional costs to set up a hotline strengthened. "And on the practices of industrial espionage initiated via the Internet," How can we measure in terms of losses that a competitor could steal ?, "asks the director of Anssi. Clearly, "it is difficult to get a comprehensive view of the problem," says he.

Despite these criticisms, these figures are held up to each event on Cybercrime. However dated, the estimated one trillion dollars of McAfee is authoritative. Last May, it appeared even in the "reminder" of the fourth Parliamentary Forum on Information Society in Geneva, on the initiative, among others, the United Nations.Trompe-l'oeil, the text quoted a source stamped Europol, the pharmacy police intergovernmental European Union, which actually refers to the numbers … the software publisher.

If governments do not hesitate to chopping these impressive figures, it is often necessary to legitimize, but costly reinforcement of their agencies against digital piracy. Or clear, make the pill easier to swallow from taxpayers. In January, the UK has estimated that cyber attacks cost him a whopping 27 billion pounds per year (32.2 billion euros) in a government study.An amount (by far) greater than the harm claimed by the United States … A few days before making public figure, London has announced the release of 650 million pounds over four years to "strengthen its cyber security " freecreditscore

International cooperation in the war-horse

Without waving the national figures, France is no exception, as evidenced by the announcement of piracy Bercy in March. Patrick Pailloux it was for the state to "lead by example" to encourage companies to report piracy they wipe. The Director of Anssi said that 150 computers were then infiltrated by hackers to steal documents for the French presidency of the G20. "We were able to counter the threat," he goes on, noting that thirty experts have been mobilized for two months to "clean up" more than 130,000 positions in the Department.A communication that is timely, since Anssi plans to double its workforce (360 employees) by 2013.

Such methods may be distasteful, but experts and politicians agree: there is no time to waste on the face of digital crime. "For a long time in France, we thought that hacking and computer intrusions were not really dangerous, says Jean-Paul Pinte. But now we know that it's become a real business, and that the threat can come from anywhere: a simple USB key, hard drives or even photocopiers, which, connected to the Internet can become the target of hackers ".

Therefore, international cooperation, which requires significant resources, is "a priority," insists Patrick Pailloux. And for good reason: "90% of attacks are international," says the director of Anssi.In the columns of The Tribune, Laurent Wauquiez, Minister for European Affairs, recently recalled that a hacker "can be installed in Latvia, while in France to intervene through a Canadian site." He even considers urgent that Europe adopts "a kind of cyber-FBI-backed Europol" to stem the digital crime. And one last statistic to shoot, ensuring that "a user of thirty lost money in Europe over the last year" due to a hacker.

Businesses, prey selection

Having surveyed 45 U.S. companies in 2010, the Ponemon Institute found that on average, the financial damage caused by hackers and data theft was $ 3.8 million.Like that of McAfee, this figure is to be taken lightly, as though Ponemon shows his independence, his study was commissioned by ArcSight, a specialist in digital security. However, it appears that large groups are increasingly being targeted by hackers. Since the beginning of the year, the list of companies or institutions that have suffered cyberattacks has continued to grow. Sony has suffered more than ten attacks since mid-April, leading to theft of confidential data of more than 1 million customer accounts. Recently, Sega has had the same misfortune: the editor of the series of Sonic hedgehog found in mid-June have been stolen names, email addresses, birth dates and passwords of almost 1.3 million customers on its servers.Google or Citigroup also suffered cyber attacks.

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