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Facebook raises $ 1.5 billion

Sunday, January 23rd, 2011

Rumors say so true. Facebook, the community site that boasts more than 500 million active members, confirmed in a statement increased its capital by 1.5 billion dollars (1.1 billion euros), which was made on the basis a recovery group of about 50 billion dollars (36.7 billion euros). The investment bank Goldman Sachs has coordinated the operation.

As stated in Facebook, the transaction was done in two stages: first, last December, the shareholder of Facebook Digital Sky Technologies (DST), together with Goldman Sachs and a fund managed by Goldman Sachs, invested $ 500 million in common shares. Then an offer was oversubscribed to customers outside the United States of Goldman Sachs, in a fund that has invested $ 1 billion in common shares.

Facebook wants to reinforce its dominant position

The direction of Facebook is evasive about the use being made of that sum. "Our business continues to perform well and we are pleased to strengthen our cash with this new financing, says CFO David Ebersman. We now have greater financial flexibility that will allow us to explore any opportunities that we will be offered. In a statement, Facebook said also to have no "immediate plans" to use this sum but will continue to "expand its operations."

According to observers, the group will seek to strengthen its position in obtaining advertising revenue against direct competitors such as Google and Yahoo.

More financial information in 2012

In addition, the site of Mark Zuckerberg should start to publish financial accounts at the latest by April 30, 2012, which can be interpreted as a first step toward an IPO. At this level of valuation, Moreover, this is one of the most important marketed in the technology sector of the U.S. stock market history.

Facebook is anyway back to the wall. U.S. authorities require a company to disclose certain financial items as soon as its number of shareholders exceeds the threshold of 499. Now in its news release, the community site announcement that it should exceed the 500 shareholders "in the course of the year."

According to a document distributed by Goldman Sachs to potential investors, Facebook has posted a net profit of 355 million dollars (260 million euros) over the first nine months of the year on a turnover $ 1.2 billion.

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Scholarships Chinese restart Backwards

Monday, January 10th, 2011

While the Tokyo Stock Exchange is closed for public holidays ("Coming of the Age Day" or "the transition to adulthood) – Japan celebrates all youth who come of age (20 years) – Scholarships Asian operate in a disorganized Monday. On Friday, Wall Street closed down after the U.S. reported 103,000 jobs created while the consensus expected 175,000.

After opening up the Asian financial centers are ironed into the red.The CSI 300 Index of Shanghai Stock Exchange was down 0.84% at 3140.02 points and the Hang Seng Stock Exchange of Hong Kong lost 0.13% to 23,665.20 points.

Export values show the largest declines on Monday: Lenovo drops from 3.98% to 4.82 HK dollars, 1.31% Esprit Holdings cowardly to HK $ 37.600.

China trade surplus down slightly

China reported a trade surplus declined in 2010 to $ 183.1 billion against 196.1 billion in 2009.These figures come at a week's visit of Chinese President Hu Jintao, U.S. (from January 18 to 21), in which the undervaluation of the yuan and trade imbalances it creates should be mentioned .

In other areas of the region, the KRX 100 Index dropped 0.95% to 4418.26 points, the BSE Sensex 30 Index yields 0.80% to 19,534.50 points and the Straits Times Index was down 0.10% to 3258.03 points. Conversely, Taiwan TAIEX Index of the Taiwan Stock Exchange gained 0.40% to 8817.88 points and the S & P / ASX 200 Index of the Stock Exchange in Sydney ahead of 0.16% to 4712.30 points.

Pressure on crude prices after the incident in Alaska

Crude prices were up Monday in electronic trading in Asia, while a olédoduc across Alaska which handles 12% of U.S. oil remained closed, said brokers.In morning trading, a barrel of light sweet crude for February delivery took $ 1.47 to 89.50 dollars. Of Brent North Sea with identical maturity climbed from 92 cents to 94.25 dollars.

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SNCF TGV fares "for all"

Sunday, December 12th, 2010

"Our fares TGV must be accessible to all." In an interview with Journal du Dimanche, Guillaume Pepy, SNCF boss, so promise lines tickets remain affordable despite the signing on Monday of an agreement with the State that provides for a rate increase TGV.

This agreement will establish "a tax on the TGV, a levy on profits from the station and a tax on toll roads" to finance the "trains of balanced land", these lines interregional deficits, which are neither TGV or regional routes.

SNCF had received in exchange for this agreement, permission to set rates more freely of its TGV. "We work so that the impact on rates is limited. We are in talks.These should be completed around the second half of January, "said Guillaume Pepy.

Last week, Secretary of State for Transport, Thierry Mariani, had sparked controversy by expressing sympathy for an increase "quite reasonable" rates TGV, taking into account inflation.

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The G20 brings Beijing and Washington under pressure

Thursday, November 11th, 2010

The figure fell Wednesday as a chopper, even though the G20 summit opens in Seoul on Thursday morning. Chinese exports surged in October by 22.9% over one year to 135.98 billion dollars, while imports rose 25.3% to 108.83 billion dollars. Result, Beijing has a trade surplus of 27.15 billion dollars against 16.88 billion in September.

It does not take more that China was in the front line in the crosshairs of the world. Washington, which calls up the yuan, undervalued by 20% to 40% against the dollar as the U.S., announced Wednesday also, a trade deficit of $ 44 billion for the month of September, which can not but bring water to his mill.

But the United States is also charged with monetary policy being too lax.That is why President Obama, just arrived in Seoul Wednesday night, felt compelled to rebut criticism that his country wants to weaken its currency to regain market share abroad. "The strength of the dollar depends on the strength of the U.S. economy. A strong recovery and job creation and wealth, is the best thing the U.S. can make to the global economy, "he said in an open letter published in the South Korean capital.

While the British prime minister, David Cameron, speaking from Beijing University, calls on China to "continue opening its markets and work with other G20 countries to rebalance the global economy" President Hu Jintao payday loan boot button.

"The foundations of the recovery are not strong enough and progress are not well distributed throughout the world," said the Chinese number one before adding to the Xinhua news agency: "It is necessary to respect the characteristics of each country well it must take into account everyone's interests. "

Beijing and Washington are more than ever on the spot, even though the G20 countries, which together account for nearly 90% of the global economy, arrived in Seoul deeply divided. A draft communique put together by representatives of their finance ministers, which necessitated a day and a half of work, led only to a cryptic text citing "exchange rate more market determined" and hesitating between the fight against the "competitive devaluation" and "sub-assessments competitive."

Thorny problems

Similarly, to reduce economic imbalances, the U.S. would like the major exporting countries restrict their current accounts surplus, but the latter, starting with China and Germany, do not want to hear about its quantified .

So many reasons that promise, according to German Chancellor Angela Merkel of "tough discussions", while the French Minister of Economy Christine Lagarde, is even more brutal. In his view, the "war of currencies" do "is resolved in Seoul."

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Fuel: 95% of service stations supplied

Sunday, October 31st, 2010

Back to normal. After returning to work Friday in all refineries and oil terminals, French, gasoline distribution gradually resumed service stations still out. Saturday, 95% of pumps were sufficiently well supplied to meet the peak demand this weekend Toussaint.

"With deliveries from oil depots, no tension has emerged on Saturday," said Interior Ministry, which coordinates the "Plan Saints' specially set up for this weekend traditionally charged on the road. Especially on highways, "Overall, everything is going good," thanks to a real-time tracking of supply pumps, and the establishment of a "force of quick delivery," says it to the Crisis Ministry of Interior.The supply stations will continue this Sunday, and thanks to a special authorization, also on Monday, All Saints.

Facilities being restarted

"We see the end of the tunnel," says the French Union of Petroleum Industries (Ufip), which anticipates a normal supply stations in the first days of next week payday loan no faxing. "People do not rush over to the pumps as a precaution" which helps to improve the situation, said a spokesman. An improvement which should also result in lower fuel prices, after inflation observed in some stations because of the near-shortage.

However, the restarting full refining and distribution will be slower, "a few days to several weeks", says Ufip.For even if the employees have now returned to work in all sites, the restart of refineries, sometimes arrested several weeks, may take some time.

Fuel shipments from refineries have deposits on their side again Friday and unloading of crude oil in ports of Marseille and Fos in the night from Friday to Saturday. But according to the port of Marseilles, several weeks will be required to treat some 80 ships are waiting since September 27.

(With AFP)

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The CAC 40 declined slightly

Tuesday, October 19th, 2010

The CAC 40 moves upward slowly but surely the psychological threshold of 3800 points. However, this Tuesday, the Paris index opens down slightly from 0.15% to 3828.75 points, despite the close up on Wall Street, supported by good results from Citigroup, Apple or IBM. But industrial output unexpectedly fell and Asian stock markets move in a disorganized Tuesday morning.

On other European exchanges, London was down 0.34% to 5,723.30 points and Frankfurt lost 0.13% to 6508.36 points.

On the macroeconomic front, the number of start-ups in September will be announced at 8:45 by the National Institute of Statistics and Economic Studies. The European Central Bank will present the balance of payments of the euro area (10 hours). Around 14 o'clock, the European Commission in Brussels will present proposals on reforming the EU budget.The idea of a European tax could be revived.

In the U.S., one indicator is on the agenda this Tuesday: the housing starts and building permits in September (1430).

On the currency markets, the euro remains below the $ 1.40 to precisely 1.3903 (-0.44%).

Computers and power abused

As for values, energy companies are abused. Total lost 0.91% to 39.17 euros after France began to dip into its oil stocks to compensate for disruptions in fuel supplies caused by strikes at refineries, including those of Total.

After the publication of results from Apple and IBM, Cap Gemini was down 1.25% to 37.49 euros, STMicroelectronics lost 0.26% to 5.67 euros.

Following the results of Citigroup, the banking stocks are operating in an uncoordinated: BNP Paribas advance of 0.17% to 52.09 euros, but Societe Generale loose 0.24% to 42.26 euros and Credit Agricole dropped 0, 21% to 11.64 euros.

Axa shows the largest increase in CAC 40 -1.45% to 13.64 euros, before Cap Gemini and Veolia Environnement (-0.91% to 20.11 euros).

Conversely, ArcelorMittal (+0.60% at 25.13 euros), Alstom (+0.19% at 36.17 euros) and Schneider Electric (+0.15% to EUR 102) are the highest increases ACC 40.

PSA and BMW are expanding their cooperation in hybrids

Montaigne Fashion Group: 42.42% to 0.47 euros

Stock quotation Montaigne Fashion Group, which was suspended Thursday, resumed on Tuesday morning, "at the demand of society" and after validation of the bankruptcy plan, said NYSE Euronext, the operator of the Paris Bourse in a contract notice.

Orpea: 3.19% at 35.06 euros

The group homes and private clinics Orpea announced Tuesday it had signed a memorandum of agreement to repurchase 4,866 beds in Europe for $ 129 million.

Soitec: 1.47% to 7.59 euros

Soitec said Monday expect a net operating profit on the entire first half of 2010-2011, following a sustained demand in the second quarter from the automakers and manufacturers of mobile phones.

Guyenne et Gascogne: 1.44% to 80.49 euros

Guyenne et Gascogne reported Monday in a persistently sluggish consumption for the third quarter, although its network of French supermarkets pulled out of the game quick guaranteed personal loans. The franchisee of Carrefour believes that its Spanish subsidiary will release for its "no major problem" of the recent crisis.

Transgene: 1.07% to EUR 16

Transgene Monday issued a turnover in nine months by 11.1 million euros.The biotechnology company, which states have a cash of about 194 million euros at end September, confirming it was on track to bring to market its first product in 2015.

Havas: 0.60% to 3.71 euros

Havas reported Monday in an acceleration of its business in the third quarter thanks to a rebound in France and a return to positive growth in the Asia Pacific for the good performance of China and India.

April Group: +0.25% to 22.10 euros

April Group on Monday issued a revenue decline in the first nine months of the year, hit by weakness in the segment of insurance.Sales of the insurer are listed down 9.8% to 556.5 million euros.

Peugeot: +0.11% at 27.56 euros

PSA Peugeot Citroën and BMW announced Monday night that they would extend their cooperation in hybrid vehicles but did not disclose financial details. Renault gained 0.22% to 39.26 euros.

Compagnie des Alpes: 0.05% to 21.32 euros

Compagnie des Alpes announced Monday that it would take an approximate 45% stake in the Futuroscope, for 63 million euros, becoming the largest shareholder in the third largest leisure park in France.

Aeroports de Paris: -0.02% to 62.04 euros

Aeroports de Paris said Monday it posted a 5.2% increase in passenger traffic in September, driven mainly by flights in association with the Middle East and Africa.

EDF: -0.10% to 31.08 euros

Daniel Camus, a member of the Board of Constellation Energy Group, has resigned his directorship. This decision will take effect Oct. 21. To replace him, EDF International (EDF) on Tuesday named Samuel Minzberg, partner in the Montreal office of Davies Ward Phillips & Vineberg LLP.

Technip: -0.66% to 61.86 euros

Technip won a contract with ExxonMobil on behalf of Marine Well Containment Company, to design an emergency response system used to contain an oil spill that would occur in the Gulf of Mexico.

Steria: -5.79% to 21.80 euros

Steria has revised its annual goals down on Monday night, relying on organic growth in sales of around 1% in 2010 against an earlier indication of 1.4%.Services company in computer engineering is now targeting an operating margin of around 7% this year, against 7.3% previously.

Results: the turn of Radiall Edenred and Pierre et Vacances

Cellectis: balance of 7.50 euros

Cellectis has signed, through its subsidiary Cellectis Plant Sciences, a license agreement with Midwest Oliseeds for the plant transformation technology of the American.

Radiall, before trading, and Edenred, after market, will publish their turnover for the third quarter. Pierre et Vacances will present the fourth quarter after-hours trading.

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Pensions opening for women

Friday, September 17th, 2010

Pension reform is barely passed first reading in the House that the Senate already reflecting the improvements will be implemented. Driven by Nicolas Sarkozy, who assured Tuesday that it would have a "margin" to amend the text, elected Upper House would like to improve the draft law on two aspects: the postponement of retirement age 65 to 67 years and taking into account the strain at work. The goal? "To reform the fairest possible," insists its chairman Gerard Larcher.

The first relaxation which reflect the majority of senators, with the approval of Gerard Larcher, aims to enable women to continue to receive full pension at age 65, not 67 years as provided by law.The mechanism under consideration is the book that progress to parents-fathers and mothers, so that the provision be deemed discriminatory, three or more children who have interrupted their careers. So, in fact, for women only.

"We will discuss the issue of women with the senators," Does it confirms the Department of Labor, declined to comment further. "There may be adjustments for certain categories between 65 and 67 years," says one at the Elysee, but without mentioning the case of women with three or more children. Such a provision could affect tens of thousands of women and cost $ 500 million per year to run.It would have the big advantage to please the unions, including the CFDT, and opinion, largely opposes the decrease in terminal 65.

Second softening of UMP senators are considering allowing the creation of early retirement in areas that have negotiated agreements for hardship. The idea, already suggested by Mr Denis Jacquat and Pierre Mehaignerie, is simple: the branches and business-as-Rhodia has already done that have concluded agreements on the adaptation of workstations at the end of career employees who have been exposed to heavy work may allow them to retire at age 60 payday loans. And without that disability rates have been found.If passed, this openness demanded by the unions could eventually cost 400 million euros per year.

Respect envelope

For now, the Ministry of Labour denies working on this, already rejected in the Assembly. "We did not refuse to allow the members to Senators, contends the near Eric Woerth. The text voted by the Assembly, which has already evolved considerably in the direction of women and workers, is now at an equilibrium. It is more inconceivable to recreate early retirement financed in part with public funds. "No," we also at the Elysee, where it says that this option was never even discussed with senators. "You study it," says Baron, however, a majority.

There remains the question of financing these hypothetical measures."The head of state senators said that they will meet the overall reform," says Will we at the Elysee. So do not invent devices that would increase the need for short-term financing plans. "It could bring a little tax on bonuses and stock options, or shift one or two years for the return to equilibrium," suggests a majority leader. "We do know the solutions found until mid-October and the government will not disclose any of them before," says one at the Elysee. Except to send some trial balloons before, to test the reaction of public opinion and unions.

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"Growth will remain weak" "

Monday, September 6th, 2010

LE FIGARO. – The euro zone recorded a growth of 4% per annum in the second quarter. This leads he will represent a substantially more optimistic about Europe?

Olivier Blanchard. – One swallow does not a summer make. The simultaneous publication of figures for poor United States (1.6% in the second quarter) and that higher numbers than expected in Europe, especially Germany, have had a big influence on public opinion. But the trends are largely the same. After catching up driven by fiscal stimulus and the restocking of companies, are now the consumption and investment must make the request. And they face numerous obstacles, particularly the weak financial system.Growth will probably remain low, both the U.S. and Europe.

Stronger growth could it encourage the German to be less rigorous in its public finances?

No, instead, it would probably take advantage of its expansion to consolidate its public accounts quickly, which is also good economic policy response. Although the Germans are the champions of fiscal restraint, consolidation actually provided remains relatively low at this time.We've calculated that the effort envisaged for 2011 is 0.5% of GDP – what we call in technical terms "change of primary balance adjusted for the cycle – while the same figure is 1% for USA.

What countries in the eurozone growth prospects have substantially different poses there not a problem?

Today, we can define three categories of countries in the euro area. Those who are competitive and are driven by external demand, with Germany being a prime example. Those, however, have difficulty in exporting: the case of Greece, Portugal and Spain must restore their competitiveness. And countries like France which lie between the two, with a trade roughly in balance.An exchange rate and monetary policy imply that these differences do not disappear the day the next day

The crisis of sovereign debt in Europe last spring she is behind us and its consequences are they limited to the actual savings?

I would not say that because countries like Greece and Portugal are facing painful adjustment process. The crisis has led to a general tightening of fiscal policies. For now, the measures taken by European authorities, with assistance from the IMF, have calmed the markets. But troubled countries must both balance their budgets, and responding to problems of competitiveness, which will take years.

The schedule chosen by Europe to reduce the deficit to below 3% of GDP in 2013 is not it too tight?

The essential thing is not so much the year or a specific figure.We need every government has a plan for consolidation in the medium term is consistent and credible, it can take steps to convince markets. Regardless of whether in 2013 or 2014, must present the prospect of stabilizing the debt. Once the markets are reassured medium term, countries have a certain degree of freedom in the short term. Until these medium-term strategies have not been implemented, it will tend to buttress on deadlines, this is not the best approach in my opinion.

Emerging countries can they sustain such rapid growth that their current savings if the G7 would stagnate sustainable?

No short term. If the U.S. economy slows, it will have a mechanical effect on Asia, not huge, but significant nonetheless.But yes the medium term, there may be a decoupling between emerging economies and rich countries. Asian economies and Latin America have the capacity and willingness to increase domestic demand, thereby offsetting a decline in external demand if it were to happen. China is reorienting its growth in this direction.

The rebound laborious United States and Europe or Japan is not it disappointing?

As I have said earlier, this hard bounce is not a surprise. The IMF said last year and a half that the recovery would be slow.Historical experience shows that it is usually the case when a recession was caused by a financial crisis because it takes so much time to repair the damage suffered by consumers and the financial system.

The response of the G20 was best?

He played a key role in coordinating responses to fiscal policy, monetary and financial. This coordination is important. If finance ministers are fully aware of the situation in their country, they, by necessity, a more approximate what is happening elsewhere. The meetings of the G20 meet the needs of coordination become essential because of globalization.The message of the Mutual Assessment Process "G20 Toronto is very clear: strong global growth requires both fiscal consolidation in advanced countries and a reorientation of growth towards domestic demand in emerging countries. And the two are closely linked. If the U.S. example can not increase their exports, they may have a very low growth, which in turn will make it very difficult fiscal consolidation.

The G20 should he not put on the table the question of exchange rates and the undervaluation of certain currencies?

When we speak of "reorientation towards domestic demand, for example in China, it passes through a myriad of measures, one of them, but only one of them is the appreciation of the yuan . This major structural change will happen eventually. Moreover, it has already begun.It would be cons-productive to simply focus on just the exchange rate, it is only one piece of the puzzle.

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The rating agencies squabble

Friday, July 2nd, 2010

Is this a declaration of war? A sneak attack against a competitor already criticized from all sides? Rating agency Standard & Poor's announced mid-week she placed the note in its rival Moody's under review with negative implications. Translation: "S & P is considering lowering the rating of its counterpart.

Standard & Poor's predicted an earthquake in the scoring in the United States. She believes that the current reforms on the financial regulation in the United States threatens the business of Moody's. For example, "investors may sue the agencies in the event of fraudulent or reckless notation, notes S & P, which" increased legal costs of Moody's "dramatically," says S & P.

Moody's might also face a drop in sales, ahead its competitor.New laws in effect remove the references to footnotes in regulatory agencies and investors could then no longer need their services.

Black Series

The decision by Standard & Poor's added to the long series of bad news qu'essuient its competitor. In recent months, Moody's has seen some of its former analysts testify against her before the U.S. Senate. One of its main shareholder, billionaire Warren Buffett, has withdrawn in part. And the agency was roundly criticized by some investors for notes attributed too generous to Greece, Portugal or Spain. When she does not suffer from the wrath of authorities for the untimely degradation States Notes.

Logically, these arguments on the ratings business in general, thus also relates to Standard & Poor's."This decision serves as a warning signal for the whole sector," Norbert Gaillard analysis, an economist and specialist agencies. The agencies are so far very profitable, with operating margins (operating income compared to the number of cases) between 30 and 40%.

Concerns about the sector

The agency draws she shot in the foot by publicly worrying about the future of its industry? Yes and no. If she criticizes his rival, it is mainly because the turnover of the latter depends on more than 90% of rating business alone. This is not the case of S & P. "She has put in place, long ago, a diversified business model (financial, S & P 500), regulatory reforms under threat," said Norbert Gaillard.

Moody's will be difficult to replicate its rival news: it is not publicly traded, it is backed by a large group, McGraw Hill. And if attacked, S & P will always assert its good faith by recalling that it had downgraded the rating of its own parent a few years ago.

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This increases from today

Thursday, July 1st, 2010

• Transport

– Station: Ticket prices for trains Coral, Intercity and TER (Regional Express Train) will increase an average of 2.5%. This will result in higher ticket from 10 cents to 2.30 euros depending on distance traveled during the trip.

As for the discount cards (cards 12-25, Senior, and Child Escapes +), their prices remain unchanged.

– RATP: The price of individual tickets will go from 1.60 euro to 1.70 euro.

Subscriptions Navigo will also increase, except for packages zone 1-5 and 1-6.The monthly Zones 1 and 2 (Paris and suburbs) rises from 56.60 to 60.40 euros (+6.7%), the zones 1-3 of 74.40 to 78.20 euros (+ 5.1%) and the zones 1 to 4 from 91.70 to 95.50 euros (+4.1%).

• Energy

– Gas: After an initial increase in April, prices will increase again by 2% to 4.7% (about 8 euros per year for those who use gas for hot water and cooking 45 per year for those who use it also for heating)

– Bulbs: As part of the scheduled end of incandescents in the EU to promote energy saving, incandescent lamps of 60 watts are removed from store shelves.Those whose power was 100 watts or more have disappeared from shelves in 2009.

• Bonus for scrap

The premium case is lowered to 500 euros instead of 700 for any car ordered until December 31.

• Stamps

The price of postage for mailings of letters under 20 grams, will increase by two cents from 56-58 cents, up 3.5% No faxing 1 hour payday loans.

• Retirement

The index points which is the basis for calculating salary in three public (state, territorial and hospital) must be revalued by 0.5%.

• Unemployment benefits

Allowances of approximately two million unemployed by unemployment insurance compensation will be revalued by 1.2%.

• Communication

– Hadopi: It is from this Thursday that the first warnings will be mailed to users in violation of the law on downloading.

– Phone: The price of calls made and received from another EU country (roaming within Europe) will be reduced to 39 cents per minute excluding VAT cons 43 cent today. Receiving a call will be charged € 0.15 per minute instead of EUR 0.19.The SMS tariff remains unchanged for its 11 cents per message.

• Business and Disability

Firms with more than 20 employees employ any disabled person and took no action to promote employment of disabled people will have their penalties tripled to about 13,000 euros per person missing.

• Livret A

Currently at its lowest level since its inception to 1.25% – Return of the booklet A should move to 1.50% or 1.75% from 1 August by Budget Minister Francois Baroin.

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