Archive for the 'features' Category
The Paris Bourse is trying to make a new step forward. After three sessions of rise, the CAC 40 opened down. He then went up the slope ahead of 1.04% to 3058 points mid-session.
Operators welcome the announcements of leading finance ministers of the euro zone, Jean-Claude Juncker, made in the night. The latter warned that the Financial Assistance Fund (EFSF) would reach "probably not" the one trillion euros, as had been promised after the crisis summit last October. "The conditions have changed" in the financial markets, he said.
The euro area is turning to the IMF, whose resources should be increased "through bilateral loans" to the institution of Washington "could have adequately the same firepower as the EFSF and cooperate with him in an even closer, "said Jean-Claude Juncker credit reports free.In the process, BNP Paribas advance of 0.91%, 1.44% of Credit Agricole and Societe Generale 0.38.
Laurent-Perrier (4.96% to 68.75 euros)
The group announced on Wednesday champagne avoirtriplé profit in the first half of fiscal year 2011-2012 (ending September 30) through its exports and that he intends to remain cautious about the whole year because of economic context.
Publicis (-0.06% to 33.34 euros)
Maurice Levy, 69, was extended for four years as Chairman of the Corporate Executive Board advertising.
Bouygues (-0.36% to 23.30 euros)
The construction group Bouygues said Wednesday it has awarded two contracts for a combined total of nearly 160 million euros for the construction of residential buildings in Singapore.
The virtues of rental real estate are well known. This is one of the only investments that can make on credit to build wealth. It is also a good way to prepare additional income for retirement. Finally, it is a way to accommodate her children or send them a valuable asset to start in life. However, the life of landlords is not a bed of roses! Some trace their route on this road winding and sometimes treacherous.
This is the case of Vivian B., 57, teacher. This Lyonnaise conducted between 1991 and 2010, three rental investments in his city. "I spaced each acquisition a decade, the time each time to pay off my credit. I always chose the studios in the IVth arrondissement of Lyon, an area popular.The lease payments used to pay me a portion of the loans, but each time I had to add 100 to 150 euros a month, "she says. Handyman, Viviane never hesitates to restore its apartments, it manages solo. Another "trick" by Viviane: the choice of holiday rental. "This formula provides short leases, or a year. Thus, it is easier to separate from a deadbeat tenant. "
1500 euros of additional income per month
For her, the acquisitions will stop, "because this investment is not worth the shot," given the rise in property prices in particular. "Every studio brings me 6%. But if I bought the same day, the yield would fall to 2.5 or 3%. "Soon to retire, Viviane Heritage is satisfied that it has formed. "My pension should be around 1.300euros month.
Italy does approach the point of no return? Some finance ministers could not help looking up to heaven on Tuesday, after a new camera in Brussels, while two indicators concern for the future of the single currency were turning to red: the level interventions of the ECB to calm the markets and the cost at which borrows the European Financial Stability Fund (EFSF), which constitutes the first line of defense if Italy were to switch after Greece, Portugal and Ireland.
The ministers of the euro seems to have learned anything from their Italian counterpart Giulio Tremonti, who came to Brussels to plead the cause of a Berlusconi government now condemned. "Markets drink the cup for a week, but Rome means the same song," laments a spokesman. Italy, in turn, "enters the vicious circle", continues a senior official.On another front to defend the euro, the EFSF has faced 104 basis points above the rate paid on its debt (3.59%) to place its 3 billion euros of bonds. The bailout fund retains its AAA, but it seems already sealed by the ball Italian. "The cordon sanitaire erected around Greece is showing signs of collapse, 'says a senior official.
Specter of a meltdown
The establishment of the famous "firewall", arrested Oct. 26 at the top of the euro, was precisely the issue of the appointment of the Eurogroup in Brussels. After the political decision, it remains to fill the coffers of the EFSF new way: European budgets are already in the grip and large foreign investors reluctant to buy its bonds in an atmosphere poisoned by the specter of a collapse in Italy.
Cuba is a small step towards a market economy. The island has in fact passed a law on the property that, for the first time, allow Cubans to buy or sell their homes according to market rules. The economic reform is the most ambitious ever attempted by the government of Raul Castro. It could have a significant impact both on the urbanization of cities as the class of the island, says the New York Times.
The new law should take effect on November 10 next, according to a newspaper controlled by the state. And while some details remain to be defined, the new device promises to revolutionize the current management of housing in Cuba. In fact, for the first time since the beginning of the revolution, the buyers and sellers of real estate will be allowed to freely establish prices.
Private labels (PLs) are back in force in the carts of French consumers. Since early 2010, the agribusiness giant had managed to contain their breakthrough, and the best manufacturers regained market share. "But since June, private labels are gaining market share from national brands, said Jacques Dupre, director at Insight SymphonyIRI. This trend coincides with the rise in inflation. "
Earlier this year, the MDD had continued to lose market share (down 0.4 points from January to May). But the trend has reversed this summer. From June to September, the MDD show an increase of 0.4 percentage points, according to SymphonyIRI. This growth could reach 0.5 points throughout the second half.It concerns mainly the heart of the range and not the premium private label, or, more surprisingly, the first price ranges.
Click on the thumbnail to enlarge the graphic.
After rising steadily since their inception in the 1970s, sales of private label had marked a halt for nearly two years, even though the distributors did not cease to give them more room on their shelves. In 2010, domestic brands have responded. With a lot of innovations, promotions, advertising campaigns and price cuts, Danone, Nestle, Coca-Cola and Unilever have then taken the field. So, while Leclerc marks usually represent 35% of sales of the brand, this share fell below 30% during the past year.National brands benefited, at the time of price stability, conducive to buying, and saturation of consumers to the overrepresentation of MDD in radii.
But since the spring, the price increase, following the surge in raw materials, has changed all that. Carrefour to pass on increases in the month of March, after the conclusion of negotiations with suppliers. Other retailers have waited until June Between January and May, the rise in prices has been limited to 1 payday loan.3%. But between June and September, it reached 3.5%.
Descent line
As a result, the constraints of purchasing power of the French took over the top, recalling – to a lesser extent – the situation in 2008.At the time, in a crisis of raw materials, private labels have gained two points of market share, while the level of inflation was nearly 5%.
Household expenditures have dropped from the month of May, before returning in August. "The French have entered a period of rigor in their daily consumption, Jacques Dupré analysis. They limit their spending on products they do not deem necessary and buy fewer products pleasure as confectionery and ready meals. "
Rather than give up certain purchases, more and more consumers prefer to go further upmarket. The shopping basket of many homes has changed significantly in recent months.
This type of buying behavior explains why the MDD leave as soon as the product categories most inflationary, such as coffee, flour or oil.Flour to the radius, where prices rose 10.6% from June to September, their market share rose 3.4 points. This increase reached 5.7 points for milk. Addicted to coffee, whose prices rose 18.5% year on year (to September), have not so far decided not to. They are likely to have delayed their spending to private label which gained nearly a point of market share (June-September). Even if the prices of private labels grew faster than those of manufacturers: 24.9% of private label coffee, against 16.6% for national brands. Product prices in the colors of distributors, however, remain 20 to 30% lower on average.
The giants of agribusiness, penalized by this new, must react quickly to achieve their business goals.
Asian stock markets on Tuesday were in turn carried by the optimism that won the scholarships in Europe and the United States yesterday. The promise, made Sunday in Berlin speaks French President Nicolas Sarkozy and German Chancellor Angela Merkel, are bearing fruit. Hopeful, investors await the answers to the debt crisis in the euro area are expected before early November. They also expect to learn more about the plan to recapitalize weak banks in the region.
Meanwhile, the Japanese Nikkei sets the tone. Around 7:00, he climbed 2.15% to 8790 points. The Tokyo Stock Exchange was closed yesterday because of a holiday and had not yet responded to the ads of the Franco-German. The Nikkei is notably supported by exporters who find the values of the force with the weaker yen against the euro.The single currency is changing around 104.50 yen this morning, well above its record low reached in ten years on October 4, at 100.76 yen. Sony gained 5.58%, 5.64% Ricoh, Sharp and Toshiba 3.44% 5.55%. The automotive sector is doing well also: Honda Motor rising from 6.03% Hyundai 3.6% and 2.12% of Toyota.
State intervention with Chinese banks
The Stock Exchange of Hong Kong and Shanghai are also in the green. At 7:00, they earn 3 cash advances pay day loan.26% respectively to 18,287 points and 0.72% at 2361 points. Financial stocks pull the score up after a share buyback of the main state banks by sovereign wealth fund China Huijin. According to brokers, this operation is to stabilize the financial system in China.In Hong Kong, around 7:15, the actions of the banks concerned fly: Agricultural Bank of China jumped 15.09% so, Industrial & Commercial Bank of China of 7.92%, China Construction Bank gained 7.04% and of China 8.94%.
Other markets in the region are also in good spirits. The Korean Kospi gained 1.89% to 1799 points, the S & P Australian advance of 0.47% to 4220 points and the Indian Sensex climbed 0.86% to 16,699 points.
Oil stabilizes
Oil was steady Tuesday in Asia, maintaining its gains made the previous day, in a market supported by the will of France and Germany to resolve the crisis of government debt in Europe and disruptions in oil exports to Kuwait due to a strike by customs officials who demanded an increase in their wages.
The barrel of "light sweet crude" for November delivery gained 18 cents to 85.59 dollars.A barrel of Brent North Sea crude for November delivery gave a small 14 cents to 108.81 dollars.
It's a real bolt from the French audiovisual landscape. Wednesday morning the competition authority has simply removed the authority granted to Canal + in 2006 to buy its rival TPS. Result, Canal + and its parent Vivendi will re-notify their proposed acquisition of TPS before the competition authority in a one-month periods. In addition, the authority sanctioning Canal + up to 30 million euros.
The reason for this? The Competition Authority considers that Canal + has not complied with several of the 59 commitments made during this operation.These commitments were supposed to ensure that the encrypted string abuses its dominant position in pay TV.
Among the reasons for this heavy penalty, the Competition Authority Canal + accuses of not having available to third party distributors (telecom operators and their channel packages on ADSL) in a timely manner the seven channels mentioned in the commitments. Worse, the Canal + group would deliberately degraded the quality of TPS Star, the only pay channel capable of competing with its own channel Canal +. Finally, the group led by Bertrand Meheut failed to comply with certain commitments regarding relationships with independent channels business cards.Clearly, it takes advantage of its dominant position to impose commercial conditions "opaque and potentially discriminatory"
Gendarme Competition
All of these unfulfilled commitments had been badly negotiated in 2006, on the redemption of GST. Telecom operators, Orange had in mind battled against Canal +. The competition authority had imposed severe conditions, but Canal +, no one has apparently ignored it.
With this decision, the Competition Authority comes on strong. She returns to the operation which allowed Canal + to eliminate competition in the market for pay television. Above all, the competition watchdog the fact at a time when Canal + ready to leverage its position in pay television to attack the free TV market with the acquisition of Direct 8 Direct and Star.
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The U.S. equity markets finished the session lower as investors showed disappointment with the Fed's proposals to end the crisis. The Standard & Poor's 500 and Nasdaq 100 and retreat of 1.06% in 1185, and 88 points from 0.78% to 2529.14 points. For its part, the Dow Jones lost 1.04% to 11,296.24 points.
U.S. investors have expressed disappointment with the speech elusive Ben Bernanke, the chairman of the Federal Reserve, the attitude that the institution intends to adopt to restore growth and employment. "The Federal Reserve has a variety of instruments that can be used to increase financial support to the economy," he said flatly. In the same vein, he says he "discussed the merits and costs of these instruments at a meeting in August."And clarify that he and his "colleagues on the Committee's monetary policy the Fed (FOMC)" continue to study these possibilities in September.
In anticipation of Obama's plan for employment
Still hesitant, most investors are waiting impatiently for the speech Barack Obama (1 hour on Friday, French time), which is expected to announce tonight a plan of some $ 300 billion to reduce unemployment and avoid a recession threatens. Markets, which had initially welcomed the prospect of the announcement, began to appear less enthusiastic. They question in particular its financing and its impact on the U.S. deficit.
On the macroeconomic front, the weekly jobless claims rose in the U.S., whereas they were expected to decline.During the week to September 3, these amounted to 414,000, against 412,000 (revised) the previous week. For its part, the trade deficit fell sharply in July to $ 44.8 billion after two consecutive months above 50 billion, with an unexpected surge in exports. In addition, crude oil inventories fell more than expected last week, announced the U.S. Agency for Energy Information (EIA). They fell 3.96 million barrels to over 353 million, while economists had forecast a decline of 1.9 million barrels. The consumer credit in turn increased more than expected in July. According to the Federal Reserve, the stock rose by 11.97 billion dollars (8.61 billion euros) after an increase of 11.35 billion dollars in June
OECD pessimistic
According to the OECD, economic growth in developed countries could slow sharply, see stalling in the second half and central banks must be prepared to ease monetary policy by lowering interest rates or intervening in the markets. The Organization for Economic Cooperation and Development predicts that growth in the G7 should not exceed 1.6% annualized in the third quarter and is expected to fall to 0.2% over the last three months of year paydayloans.The United States should expand at a 1.1% annualized in the third quarter and 0.4% in the fourth.
In the same tone, the IMF said on Thursday that "the economic situation of a global perspective has deteriorated, and the risks increase, which is what we have said so far," d According to a spokesman.
On the foreign exchange market, the euro declined to 1.3883 dollars (-1.50%). The course of the black gold they have closed lower Thursday, undermined by the fluctuations of the dollar and weak equity markets.A barrel of "light sweet crude" for delivery in October down 0.32% to 89.05 dollars.
The side of values, the Chinese government pledged Thursday not to make higher bid by "politicizing" an oil spill in the northeast of the country about which the U.S. company ConocoPhillips (-2.124% to 65.880 dollars) has agreed to to endorse its "full responsibility".
The Taiwanese HTC (filed a complaint in the United States against Apple yesterday.The number two mobile phone in Asia accuses the giant of violating patents that Google has to give him.
For its part, Credit Suisse, the bank is considering to withdraw its private banking business in the United States, where the establishment is facing pressure from the U.S. authorities decided to fight against tax evasion, said Thursday the press Switzerland.
Also note, the South Korean group Samsung Electronics will release a new digital tablet under Windows environment, equipped with the Windows operating system developed by Microsoft 8, reported Thursday the Korea Economic Daily, citing a source familiar with the matter.Analysts say South Korea wants to reduce its dependence on Android operating system Google after its acquisition by the American giant of internet mobile phone manufacturer Motorola Mobility.
The Chinese authorities have renewed the license authorizing the operation of the U.S. site Google (0.174% to 534.960 dollars) in China. This decision indicates that Beijing wants to maintain Google in the country, despite its decision to reduce its operations in place against the backdrop of criticism of the policy of censorship. Also note, the infringement proceedings initiated against Google in May by three French publishers, Gallimard, Flammarion and Albin Michel, will not on at the moment, said Thursday the magazine Livres Hebdo online.
The American group messaging FedEx (-1.510% to 74.990 dollars) wants to buy 50 aircraft to modernize its aging air fleet, according to Bloomberg.Fedex is the competing Boeing 767 and Airbus A330, but will make its decision in several months.
The magazine Wired has signed the death warrant of the Web in September 2010. "The Web is dead," was titled the Bible in a high-tech. Provocative, the statement was intended to signal the end of the exploration of the Internet by a browser (Firefox, Safari, Internet Explorer …) in favor of a consumption of digital content for mobile applications from a smartphone or multimedia tablet.
In the U.S., the consultation of mobile applications already widely prevails (67%) on access to mobile sites (33%) in the heart of Android smartphone users, revealed a study released Friday by the Institute Nielsen.Applications dominate all other uses of the smartphone, representing 56% of the activity of a mobile terminal, as against 19% for email, 15% for calls and … 9% devoted to the Web browser.
This trend has important implications for content publishers. Indeed, they become dependent on the conditions imposed by the guardians of these ecosystems built, defining the rules, the terminal to the platform for downloading through the operating system. Apple, with its IOS and its terminals iPad or iPhone is the most obvious incarnation.The firm at the apple has chosen to abandon the format in favor of Flash HTML5 – making it unreadable number of animations and videos on the Internet – and imposes conditions of payment (30%) to content providers who sell subscriptions or applications from its platform.
The "surf neutrality"
Google, Motorola, now has the means to replicate this model of vertical integration. He recalled the "walled garden" (walled gardens) built in the early hours of the Web by companies such as AOL and CompuServe. These providers offer their subscribers a selection of content offered Pardes partners, before gradually breaking down barriers and open wide to the Web world.
The return of the closed logic could push regulators to question certain practices.It happens and a mobinaute seeking to visit a Web site on the iPad, via the Safari browser, it means to be denied access and sent automatically to the mobile application site in question on the App Store. Practices that seem to hinder the freedom of surfing. The "surf neutrality" could well be the new frontier to defend after the "Search neutrality" and Net neutrality.
Japan is recovering slowly from the disaster of 11 March. On Monday, the government announced a slowdown of 0.3% of GDP in the second quarter. Of course, Japan remains rooted in the recession, but the decline of 1.3% annualized, is less than the forecast of analysts who had forecast a contraction of 0.7%. It also shows a marked improvement over the 0.9% decline the previous quarter cashed.
Between April and June, exports fell sharply by 4.9% and is the main factor in the decline. During this period, deliveries of goods have been hampered by the destruction of factories and infrastructure in the devastated areas of north-east of the archipelago. Breaks in the supply chain were found in the key sectors of the automobile and electronics exports pillars.Industrial activity has also been slowed by the nuclear accident in Fukushima that led to the arrest of a significant portion of the reactor pool and therefore a fall in electricity production.
The downward trend was further accentuated by a decline of 1.9% of private real estate investment and a 0.1% decline in consumption. The trauma of the disaster, which killed more than 20,000 dead or missing, has indeed led the Japanese citizens to exercise restraint for several weeks, slowing private consumption, which is usually an engine of growth. This slowdown was partly offset by the increase of 3% of public investment.
"We will rebuild Japan"
To observers, this leaves the second quarter, however, consider a rapid improvement in the Japanese economy."If the economy is improving as it takes shape in some respects, it is possible that growth back at the period from July to September", commented Takeshi Minami, an economist at the Institute Norinchukin whose opinion joined the Minister of Finance, Yoshihiko Noda.
For his part, Prime Minister Naoto Kan, who survived in June in a vote of no confidence by promising to resign by the end of August, took advantage of the sixty-sixth anniversary of the surrender of Japan to discuss improved conditions. "Our country has emerged from the ruins of war through the efforts of every citizen and overcame many difficulties to date. With these experiences, we will rebuild with determination and force the devastated areas and Japan. "
These remarks have convinced the Asian markets on Monday morning.At the Tokyo Stock Exchange, the Nikkei has closed the day on a sharp increase from 1.37% to 9086.41 points.
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