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The debate about replacing DSK IMF opens

Thursday, May 19th, 2011

The U.S. government has dropped Dominique Strauss-Kahn. The United States, largest shareholder in the International Monetary Fund (IMF), followed by China, have been opened wide debate replacing the selection of the head of the monetary institution. "Obviously Dominique Strauss-Kahn is unable to manage the IMF," said Tim Geithner on Tuesday night. It was the first public comment from the U.S. Treasury Secretary on the individual circumstances of DSK. "It is important that the Board of Directors of the IMF should establish a formal ANYONE who acts as General Manager for an interim period," added Tim Geithner knows very well that the IMF for having been one of its Senior from 2001 to 2003.

A few hours earlier, the question of succession had already been given to the public by European leaders.Including Angela Merkel, then by the finance ministers of Austria and Spain. Some did not wait to know whether Dominique Strauss-Kahn would be prosecuted for speaking openly about his replacement.

John Lipsky, IMF number two just became number one acting. Photo credits: Haraz N. Ghanbari / AP

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Saab divorce Hawt

Thursday, May 12th, 2011

It was an ideal solution to address the financial situation of Saab, whose factories are shut down since the beginning of April. Under the agreement signed in Beijing on May 3 last year, the Chinese carmaker Hawt should be made to the Swedish brand, owned by Dutch Spyker, the 150 million euros needed to boost its production and pay suppliers.

But the agreement was canceled Thursday Spyker said in a statement. "Since Hawt was unable to obtain necessary consents from its shareholders, both parties are obliged to cancel the agreement," said the document, noting that the two companies will lead discussions for possible cooperation "without being exclusive."

The spokesman for Saab Gunilla Gustavs, gave no details about the role of the report of the Embassy of Sweden, published on May 5 in the cancellation of the agreement between the Swedish brand and the Chinese producer. "Work continues to ensure funding in the short term and medium term," she said in comment on the decision of Spyker. "No deadline has been set for the discussions, but to reach an agreement remains our top priority easy payday loans."

Another Chinese group in the partnership

Hawt Motors automotive group was surprised by the decision of rupture. According to statements obtained by Xinhua, the marriage between Saab and Hawt was taken too Quickly.

But while Saab would not be lost. A partnership between the Swedish manufacturer, Hawt Beijing BAIC and the producer would be considered.According to a press Hawt, "it goes beyond a simple strategic partnership, promoting a common technology, which could further develop the production." For its part, Reuters says that the Chinese automaker Great Wall would still be interested in investing in Saab.

Following the cancellation of the agreement, analysts in the automotive sector, concerned about the future of the Saab brand. Tom Muller, an analyst Theodoor Glissen, announced that during the first three months of 2011, Spyker has spent nearly 70 million euros to keep the brand afloat. "The group lives on a daily basis, and not because he has no funds to meet future orders. It is already making money from its suppliers.

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Income: that French employees win

Wednesday, May 4th, 2011

Click image for larger graphic.

In 2008, a French employee earned 18,800 euros net on average per year. He saw his salary increase by 1% on average annually since 2004. Women earn less than 27% of men and less than 25 years earn 60% less than employees over 40 years. In the private sector, executives show average annual wage income of 38,800 euros, which means they are about three times better than a paid worker or employee.

In public, a government official earns 8,000 euros a staff of more territorial and 2500 more than a hospital worker.These are some lessons from the 2011 Survey of Employment and Earnings "of INSEE.

Underperforming academic specialties

More specifically this year, government statisticians are wondering if specialized training had a significant impact on employment and wages. Their response is positive. "For the same level of education, holders of professional specialties are generally less unemployed than graduates of academic specialty," say the authors of the study.

There are two types of specialized training in language INSEE, "a specialty of targeted professional training" (mechanics, accounting, healthcare, secretarial, trade payday loans in 1 hour…) or a specialty academic (humanities and social sciences, humanities, languages ​​…) . 61% of assets from 15 to 55 are in the first case, 12% in the second.A quarter do not fit into any category, either because they have no diploma (18%) or because they have a general education secondary school certificate type (8%).

The educational level is particularly important determinant of wages. 5 bins earn about 70% more than the CAP-BEP, with a premium for jobs related to accounting, finance, human resources, operation of the business or law.

Some specialties are finally learning is highly specific. Graduates in hospitality-tourism obtain value well their training if they have a job in this field and despite a high unemployment rate. Conversely, those in finance and accounting experience a low rate of underemployment and have pay above average, they work or not in their field of training.

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Deutsche Börse calls for merger with NYSE Euronext

Sunday, April 3rd, 2011

After the cons-offer Nasdaq OMX Group and IntercontinentalExchange (ICE), NYSE Euronext, Deutsche Boerse boss Reto Francioni, says its proposed merger in the columns of the Frankfurter Runschau. Deutsche Boerse and NYSE Euronext had announced their merger on Feb. 15 designed to give birth to the first exchange in the world, 60% owned by shareholders of the German group and 40% from those of the transatlantic operator. For the owner of the German operator, the project remains "the best combination" for shareholders of both groups.

He refused however to say whether he will increase his offer. Nasdaq OMX and ICE have made an offer Friday to $ 42.50 per share in cash and stock for the entire share capital of NYSE Euronext, the end, the proposed $ 11.3 billion. This is higher than 19% of Deutsche Börse, which is otherwise entirely denominated securities no faxing pay day loans.The offer from Deutsche Börse provides for the exchange of each action against a new set of common share and exchange each share of NYSE Euronext's equity share capital 0.47 cons of the new company.

Asked about the risk of a long legal battle to get the green light by competition authorities for its proposed merger, Reto Francioni said that it was for him not a "takeover" but rather a cooperation agreement between Deutsche Boerse and NYSE Euronext. "It's not for us to conquer or be conquered. For us it is an amalgamation of two partners are well positioned, "he said.

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Monday, March 21st, 2011

The Paris Bourse was able to surpass the 3900 points. After laboriously saved the technical threshold of 3800 points last Friday, Cac 40 climbed 2.47% to 3904.45 points on Monday at the close, after increased its earnings at the opening sharply higher on Wall Street, and after a final peak in the final minutes. This morning, Asian markets also rebounded strongly, despite the closure of Tokyo because of a holiday, reassured by the stabilization of the nuclear crisis that has rocked the archipelago.

Elsewhere in Europe, the indexes are correctly oriented. In Frankfurt, the Dax gained 2.28% to 3816.12 points raised by Deutsche Telekom has sold its subsidiary T-Mobile U.S. giant AT & T.In London, the FTSE was 1.19% awarded to 5786.09 points.

In the absence of major indicators fell at the first weekly session, all eyes turned abroad. Optimists, operators retain Parisian improving the nuclear crisis in Japan. Moreover, the World Bank has estimated that the earthquake and tsunami of 11 March could cost the Japanese economy up to 235 billion (165 billion), up 4% of national production. The international agency notes, however, that reconstruction would quickly resume.

Libya, the center of attention

However, caution about the strength of this long-term uptrend, while investors should still be observed in the coming days, the situation in Libya.The strikes of the international coalition began this weekend and the Libyan air defenses had been severely damaged. In the viewfinder, on Monday: the supply lines of forces of the regime of Muammar Gaddafi.

This tension is already affected oil markets, fueling the rise in oil prices. In morning trading, a barrel of light sweet crude for April delivery was taking 2.31% to 103.76 dollars. That of Brent North Sea crude for May delivery gained 3.47% at 114.9 million. "Some oil facilities could be destroyed during strikes or when sabotage," said Victor Shum of Purvin and Gertz firm.

As for currencies, the euro stabilized in mid-day at 1.4169 dollar.As for the dollar, he continued his catch against the yen, a dollar worth approximately 81.20 yen after the G7's decision to intervene to counter the outbreak of the Japanese currency.

Side indicators, the news will be published with the U.S., 15 hours, sales of existing homes in February.

Values ​​to follow

EDF: + 5.17% to 28.87 euro

The Ambassador of France to Italy was summoned to the offices of Chairman Silvio Berlusconi on the Parmalat case and Edison.Nissan's partner Renault has also announced it would boost its production lines in Japan.

L'Oreal: + 2.51%, to 80.48 euros

Jean-Paul Agon, CEO of the group, also holds the post of president since Friday but will retain the same salary this year than in 2010.

Air France-KLM: + 1.72%, to 11.51 euros

The idea of ​​"bases Province" was overwhelmingly approved by referendum.The Cockpit living near the bases would not have to make stopovers, which should allow the company to save money.

Diageo: + 1.45%, to 13.32 euros, Pernod Ricard: + 2.39%, to 64.15 euros

The Sunday Times, the group plans to launch a bid of two billion dollars on the brand of tequila Jose Cuervo, the newspaper added that Pernod Ricard might also be interested.

Audika SeLoger.com and publish their annual results after market close.

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Troubled by Libya, ACC unscrews

Monday, February 21st, 2011

Once is not custom, currency, both micro and macro was hungry on Monday. No publishing companies, both in France and the United States, was planned. As a result, investors remained focused on the situation in Libya, which has worsened in recent hours, raising fears of a contagion in the rest of the Arab world.

The CAC 40, which opened cautiously, dug its losses throughout the day, finally closing on a decline of 1.44% to 4097.41 points. Last week, it had increased by 1.36%.

At the Stock Exchange Frankfurt, the DAX 30 lost 1.41% to 7321.81 points, and the London Stock Exchange, the FTSE-100 yields 1.12% at 6014.8 points. The Milan Stock Exchange, falling 3.59% due to the violence in Libya, where Italian companies are present for historical reasons.

Note that the oil markets also fear the worst.The price of Brent crude reached their highest level since September 2008.

The French PMI rose

On the macroeconomic front, the French private sector has continued its march toward recovery in February, but this increase was accompanied by signs of increased inflationary pressure, according to Markit monthly survey Monday.

The composite PMI's research department has progressed in February to 59.5 against 56.9 the previous month, the highest level since August and its nineteenth consecutive month above the 50 threshold that separates growth and recession. Markit flash composite index of overall activity in the Eurozone is recovering from 57 in January to 58.4 in February, its highest level since July 2006, indicating one of the highest rates of expansion of the thirteen survey years.The flash manufacturing PMI came out, meanwhile, to 55.3 against 54.9 in January a consensus of 55.0, while the service sector stood at 60.8 against 57.8 the previous month and consensus of 58.0.

Please note that financial markets are closed Monday on Wall Street because of the "President's Day" (or officially the "Washington's Birthday"). It is the day when Americans honor all U.S. presidents.On Friday, Wall Street closed higher on more than two years, linking a third consecutive session.

Agreement in the snatch G20

After the G20 finance held in Paris on Friday and Saturday, after talks "frank and sometimes tense," the French presidency has finally wrested a compromise on the choice of indicators to oversee the economic policies of countries that have surpluses and deficits excessive.

Finally, internal imbalances in a country (debt and deficits, private savings) and 'external imbalances (trade balance) were selected as indicators. Taking into account the exchange rate is mentioned in the final communique, but is not an indicator as such.

On the currency markets, the euro started to fall against the dollar late in the session in Paris, after being mounted on top of $ 1.37.Traders reap some benefits and caution gets over in a market which monitor developments in North Africa and the Middle East. One euro was worth 1.3676 and the dollar at closing.

Renault wants to extend the target of his Clio 4

The title of the website ads Seloger.com has been a code change to the Paris Stock Exchange, causing a disturbance on Monday followed by the title. From 1 March, Seloger.com shares will be quoted again in the former stock symbol, the operator said in a statement.

As for the rise, only two values end in green: Pernod Ricard (+0.51% at 67.35 euros) and Publicis (+0.23% at 41.12 euros).The latter announced Monday the launch of a new offer to small-and medium-sized in France to support their development on the Internet.

On the podium of the largest declines Alcatel Lucent (-3.72% to 3.52 euros), AXA (-3.58% to 14.96 euros) and Societe Generale (-3.06% to 50.34 euros) .

Renault: -0.22% to 44.89 euros

The manufacturer will attempt to extend the target of future Clio 4 and propose a variation of his famous 4×4 sedan, BFM reported Monday. This new version is based on the concept as "Capture", a sporty SUV, Nissan recalling the Juke.

Sanofi-Aventis: -1.10% to 50.31 euros

S & P affirmed its AA-rating Friday the Sanofi-Aventis with a stable outlook.During the day, Moody's had lowered its rating to A2, stable outlook.

EADS: -2.22% to 21.17 euros

The group and its main shareholders are creating a special share (golden share) which would give France and Germany a veto over strategic issues, "wrote the German weekly Wirtschaftswoche.

Air France-KLM: -2.49% to 12.16 euros

The Company and Delta Airlines offer to examine jointly Virgin Atlantic, the Sunday Times reported, without specifying its sources.

EDF: -1.71% to 31.91 euros

The electrician could sell for 39 euros per megawatt hour 25% of its nuclear generation to its competitors, according to a report released by the Journal du Dimanche.

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A new marriage changes the stock in Europe

Saturday, February 19th, 2011

The vast movement of concentration in the stock market operators for accelerating and even alternative trading spaces. From sources in the night, the two main platforms multilateral trading facility (MTF) Chi-X operations in Europe, Bats and Global Markets, based in the United States, have signed an agreement formalizing their wedding and should the next week. Bats absorb its competitor after an initial payment of $ 300 million, then two more than 30 million each in 2012 and 2013, Chi-X reached performance goals.

Thus, the deal values the group at nearly U.S. $ 1.2 billion. With this new development and implantation in the European markets, Bats can carry out its proposed IPO.

Chi-X would be him, valued $ 360 million.The operator based in London was born in 2007 in response to the new MiFID regulations aimed at liberalizing the stock market and break the monopoly of the incumbents on stock transactions in order to cut cost of trading orders.

The emergence of these independent platforms has lost significant market shares to managers trading history, nearly 25% for NYSE-Euronext, which retaliated by focusing today.

Concentration to be more competitive

Tuesday, Deutsche Boerse manager of the Frankfurt Stock Exchange and NYSE Euronext Head of New York Stock Exchange, stock markets in Paris, Brussels, Amsterdam and Lisbon have confirmed their intention to merge. An announcement that closely follows that of stock exchanges in London and Toronto. And six months earlier, the indices of Singapore and Sydney had similar intentions.And the race for redemption is only just beginning: the Financial Times reported Thursday the existence of discussions between the Shanghai Stock Exchange and Brazil this morning and rumors suggest a rapprochement between the U.S. Nasdaq OMX and the Intercontinental Exchange (ICE ).

A union between Chi-X and Bats could even accelerate the current trend towards concentration. In fact, the major stock exchange operators are similar to regain market share against the trading platforms or if they commit themselves as a movement of concentration, the race for size could accelerate further.

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Drought in China: wheat burns in Chicago

Thursday, February 10th, 2011

The terrible and persistent drought affecting the north-east China give cold sweats to Chinese leaders and has been sounding the alarm to the UN specialized agencies. It also abrogates wheat prices to record levels on the reference market in Chicago. However, Beijing warned Wednesday that this climatic anomaly should last at least ten days to come, seriously threatening the harvest of winter wheat.

According to the Chinese Ministry of Agriculture, the eight affected provinces produce more than 80% of winter wheat in the country. Shandong Province could well find its worst drought in 200 years, according to Xinhua. There has fallen only 12 millimeters of rain since September. "The persistent drought poses a potentially serious problem," says the UN Food and Agriculture.According to FAO, would cover the affected area for more than two-thirds of national output. China is both the largest producer and biggest consumer of wheat in the world.

Threatened self-sufficiency

Premier Wen Jiabao, visited the field in Shandong. To declare that the country "must prepare for the worst and take action." On Wednesday, Chinese authorities have announced new measures. The government will spend over 6 billion yuan (670 million) to divert water to areas most affected and construct emergency wells and irrigation systems best payday advance. According to China Daily, Shandong has undertaken to repair or widen 30,000 wells.

During that same trip, Wen Jiabao said that the stabilization of prices was the "main task of government" and that grain prices was "essential" in this fight.However, the futures market for agricultural products from Zhengzhou, the price of a tonne of wheat surged 6.6% to a record level of 3,051 yuan. And Chicago, prices reached their highest level in nearly three years. For obvious strategic reasons, China has endeavored to be self-sufficient in wheat, and a need for supplies from outside would have a serious impact on the world market. Beijing has yet large stocks, which should mitigate the consequences of the shortage.

For the Chinese government, the cruel caprice of the sky is falling very badly, as he tries to fight inflation rising to 3.3% in 2010 and driven largely by rising food prices. More broadly, the FAO has warned against civil unrest in parts of the globe, food prices have reached their highest level ever in the world.

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Faurecia advantage of the recovery of the automotive sector

Tuesday, February 8th, 2011

Supported by the scrapping and recovery measures, the automotive sector rebounded in 2010. The French automotive supplier Faurecia has benefited from the market recovery in 2010 and ended in the green: the net profit amounted to 202 million euros against a loss in 2009 and for the fifth consecutive year of 434 million.

Faurecia and exceeded all its goals with an operating profit of 456 million euros last year, representing a margin of 3.3% of sales, a figure higher than the target set by the OEM (over 400 million euros).

The group also exceeded its goal of net cash flow (net cash flow) of 100 million euros for 2010, reaching 222 million.

Turnover has also risen sharply, from 48% to 13.79 billion euros.Group sales 57.4% owned by the manufacturer PSA were fired by several areas: parts and components manufacturers, the monoliths, tooling and prototypes. In all geographical areas where the group is present, sales are also well made, with a leap of particular products in North America and Asia. Faurecia strengthened its activities with the acquisition of American Emcon Technologies, specializing in technologies to control exhaust emissions, and that of Plastal Germany, specializing in automotive exterior parts online payday loan lenders.

Faurecia could "seize opportunities for consolidation"

In terms of outlook, the supplier is confident for 2011, especially since it garnered last year a record number of contracts (13.1 billion euros) to "ensure the group's growth."Therefore, it is a turnover of between 14.8 and 15.3 billion euros this year, an operating margin of between 580 and 640 million and net cash flows in excess of 200 million.

Faurecia will also continue its expansion in Asia, especially China with the construction of seven new plants and intends "to exploit future opportunities for consolidation."

With this publication, the group will propose a dividend of 0.25 euro per share at the next general meeting.

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The CAC 40 is supported by EADS and the bank

Wednesday, January 12th, 2011

In the wake of Wall Street and Asian stock markets, the Bourse de Paris wants cautious on Wednesday. At the opening, the CAC 40 rose 0.23% to 3870.79 points.

On Tuesday, the CAC 40 moved closer to the 3900 clearly points to 3861.92 points (1.58%), supported by bank stocks.

This caution is linked to the wealth of economic news in France, Europe or the United States.

Portugal is launching its first issuance of long-term debt this year, considered a test of the ability of countries to finance markets. The Management Institute of Public Credit (IGCP) has planned a double issue of Treasury bonds maturing in October 2014 and June 2020 for a total between 750 million and 1.25 billion euros.

Public deficit down slightly

In France, two indicators were on the agenda: the current account deficit rose to 4.2 billion euros in November.In addition, the budget deficit declined slightly to 140.7 billion euros at end-November (cons 141 400 000 000 a year earlier). The government expects to end 2010 on a budget deficit of 149.7 billion euros, a record.

Industrial production in November of the euro zone will be published at 11:00.

Finally, the U.S., investors will follow the import prices in December (1430), the weekly inventory of crude oil (16.30), the figures of budget execution in December (20 hours) and the Committee meeting monetary policy the Fed (20 hours).

Bank stocks well surrounded

On the currency markets, the euro back above the $ 1.30 just before the opening of the Bourse de Paris: The single currency traded at 1.3012 dollars (+0.29%).It is stabilized against the yen at 108.03 yen.

On the corporate side, the reaction of bank stocks to launch bond issue of Portugal was expected. Natixis gaining 1.14% to 3.64 euros, Societe Generale climbed from 1.32% to 40.94 euros, BNP Paribas rose 1.38% to 48.59 euros and Credit Agricole takes 1.73% to 9 78 euros.

RBS Sempra Commodities will sell assets at Societe Generale, which will pay in cash, RBS said on Tuesday. The British bank did not disclose the amount of the transaction, but said that the assets sold were not quantifiable value.

Historic order for Airbus

EADS: 4.48% to 20.97 euros (largest increase in the CAC 40).

The main low-cost Indian carrier IndiGo has committed to buy 180 Airbus A320s, of which 150 copies of its new version remotorisée Neo, for a total estimated at $ 15 payday loan lenders.6 billion based on list prices. According to Airbus, a subsidiary of EADS, it is "the firm contract for the largest number of aircraft in the history of civil aviation."

Also at 11:30, EADS will take stock of 2010 and present its outlook 2011.

Sodexo: -0.88% to 52.75 euros

Sodexo confirmed Wednesday its annual targets and announced for the first quarter of fiscal year 2010-2011 offbeat, organic growth in sales of 4.7%.

Hermes: -0.06% to 159.90 euros

In the case between LVMH Hermes, the manager of the saddle, Patrick Thomas, said Tuesday night told AFP he was "serene" face to appeal to be lodged by the Association for the Defence of Minority Shareholders, chaired by Colette Neuville.

Iliad: -1.97% to 78.05 euros

The founder of Iliad, Xavier Niel, sold at 77 euros per share, or 1.3% of the capital provider of Internet access, which remains the largest shareholder with 62.7%. The investment has focused on 700,000 shares, totaling 53.9 million euros.

Renault must file a complaint on Wednesday

Renault: 0.73% to 49.7 euros

Renault will file a complaint Wednesday in the case of alleged industrial espionage aimed at three of its officers, after a series of interviews prior to a dismissal which took place Tuesday between management and employees in question.

Sanofi-Aventis: +0.41% to 49.64 euros

The CEO of Sanofi-Aventis said he did not know how far he would go in its discussions on the purchase of Genzyme. For his part the General Manager of Genzyme declined to comment on his discussions with the French pharmaceutical group after the presentation of its quarterly revenue.

Technip: +0.18% to 74 euros

Technip said in a statement that a consortium comprising two subsidiaries in Angola has won contracts to supply umbilicals to develop an oil field in deep waters.

Michelin: -0.41% to 53.8 euros

Analysts of the British bank, HSBC, would lower their recommendation on the title of the automotive supplier Michelin to "underweight" cons "neutral" before, according to market sources.

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