Archive for the 'special' Category
The higher the debt crisis is intensifying and European gold is getting stronger. The metal price has risen late Thursday at a new record of 1594.45 dollars approaching the threshold of 1600 dollars per ounce, still supported by concerns about the debt crisis in the euro zone and the renewed nervousness around indebtedness of the United States. The metal is "overbought in a configuration that is generally followed by a phase correction with profit taking," said Alexandre Taurand, market analyst at XTB France.
Since early July, the Yellow Gold has gained nearly 60 dollars and grew by more than 2% in five days. A craze that is also explained by its role as a refuge for investors wishing to protect themselves against currency volatility, turbulence government bonds and inflation pressures persist.Since the beginning of the month, the disturbing news in the euro area accumulates. Standard & Poor's warned that a draft agreement between Greece and private creditors would be equivalent to a default under its criteria. On Tuesday, the working group to find a solution to save the country from bankruptcy said he did not exclude a more "partial failure" Greek. Moody's lowered the rating of Portugal and the eyes are now to Italy and Spain where the rates of bonds soaring.
Investors are not convinced by the ads of European finance ministers that provide control to prevent contagion. The latter said they were willing to increase the size of the Fund for financial help. They are also considering a "lengthening of maturities of loans" made to give more time to countries in difficulty to repay their debt. But nothing works.Tuesday again, plummeting stock markets in Europe reflected a continuing concern.
All eyes turned to Italy
"Unlike money, which is currently trading on the area of 35.50 dollars an ounce and is a turning point towards lower, gold is playing its role as a refuge and is one of few underlying advantage of the situation, "says Alexandre Taurand.
In his view, two scenarios are emerging now for the precious metal, "If the price settles above the area of 1547.11 dollars, then maybe we would pause in the middle before a new upward impulse to try re-cross the area of 1557 dollars per ounce. In the event that the price of gold were to fall below the 1545 dollars, then we would have a target level of support for 1541 dollars, "said he.But can not decide yet, "there are a lot of uncertainty. Investors are focused on the Italian austerity plan (on which Parliament must decide by by the summer break, ed.) They also monitor the situation in the United States with the vote on the debt ceiling to be held by 2 August. "
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Christine Lagarde keeps its promises and thus confirms the rise of China on the international economic and international. The new executive director of the International Monetary Fund (IMF) has appointed a Chinese Zhu Min, the Director-General, a third managing director created for the occasion. It will work well alongside a Japanese and an American. The Chinese were far special adviser to Dominique Strauss-Kahn.
At age 58, Min Zhu has a strong resume: he went through the World Bank, the Central Bank of China and Bank of China business establishment. He "brings a wealth of experience in administration, politics and international financial markets, but also strong leadership skills and communication, and an understanding of institutional funds, Christine Lagarde said in a statement.In his capacity as Executive Vice President, he will play a decisive role in our work, in collaboration with other members of my team and myself. "
Elected by the unit of European leaders and the agreement of the United States, Christine Lagarde has focused during his campaign for the highest office of the IMF to receive the support of emerging countries. The latter, in much better shape economically developed countries, intend to carry more weight in the decisions of the IMF, busy to participate in rescue of Greece, Portugal and Ireland.
An Obama adviser appointed
To secure the support of China (3.82% of votes in the IMF), the former French Minister of Economy visits in Beijing, hinted that it could appoint a Chinese by his side.At its inaugural press conference, she said she would continue the policy of his predecessor, Dominique Strauss-Kahn by giving more weight to emerging within the Fund.
Christine Lagarde has not forgotten the former shareholders of the Fund, namely the United States, which were the key to his appointment. She announced that David Lipton, an economic adviser to the White House, take over from his compatriot John Lipsky as Director General."Combining international expertise, experience in public policy and private sector and a strong track record in managing economic crises, David brings to the Fund's long experience in the design of policies and negotiating skills," said Christine Lagarde said.
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Tuesday, July 12 at 20:45, Stéphane Rotenberg will kick off a "Dinner almost perfect: the best team in France." "This is a series of bonuses for daily works so well, says the leader. We combine the two best candidates to represent their city. This sometimes creates dissension or complementarities. They are fans so it's very far from "Top Chef", but represent his city, this is not the same issue as to represent himself. "
Usually released in late afternoon, the program is available in the evening for the third consecutive year. In 2010, the "Battle of the regions" had attracted an average 2.9 million viewers and 13.2% audience share With the second part of the evening between the candidates for known chefs, who rise up to 40 % market share. "The goal is to repeat the same … if you can!" Smiled the host.In a TV landscape shaken by the appearance of TNT, the erosion of audience is indeed the common lot of most programs. And "Beijing Express", the sixth season ended on July 6 M6 and also presents Stéphane Rotenberg, is no exception to the rule. On average, 2.7 million of the faithful have watched the program this year, 12.7% audience share. "Only 3% of the point of hearing in less than two years ago," Beijing Express "is one of the programs that have best resisted, supports the presenter of the program launched in 2005. With three million members and 14% market share for the final, it is also not very far from our scores there are two or three years, when there were six major channels. And at the candidates, the enthusiasm is still there, since we have already received 20,000 applications for next season. "What convinced the chain of command a new season, and allow the facilitator to reflect on the development of the program. "But we do not revolutionize the program, he says. The challenge is to be creative to surprise, while reducing the budget. "
Starting Agathe LeCaron Top Chef
The show, produced by Studio 89, sometimes receives support from Red Mountain, the production company that Stéphane Rotenberg created in 2006. This example has co-produced the second part of the evening of the show ("Peking Express, The Adventure Continues"). "I know the fragility of the trade facilitator," concedes one that started as a journalist, "so I always wanted to have a second business, behind the camera yesterday and today as a producer." Red Mountain has also produced for the TNT (NRJ12, W9).Thirty-six issues of "Fast Club" were commissioned by the subsidiary of M6 for next season and new episodes of "Convoys to the extreme." With 5% audience share on average and regular spikes in excess of one million viewers, the show imported from England is among the highest ratings of the channel, and TNT. This year, Stéphane Rotenberg has also produced a dozen documentaries for 80 minutes NRJ 12, and is confident about new collaborations. "Working for TNT is not exceptionally profitable, says the producer. What is certain is that the host earns a living as best production company. " Then he nuance: "In the past, producing for TNT was the limit of volunteering. Today, these channels give more and more money because they have more public. They are more ambitious. "
A third season of the program of culinary competition "Top Chef" is on track, despite a question mark on it to replace LeCaron Agathe, the co-presenter of the show which will leave for France 5 in September. "That destabilizes a large chain programs, but we'll find. Moreover, even if there is real competition with "Masterchef" on TF1, I think it is now regarded more as a leader in this field. "
The U.S. stock markets, should the open down on Wednesday. Future of Standard & Poor's 500 and Nasdaq 100, respectively, in fact retreating from 0.24% to 1333.50 points and 0.14%% to 2368.75 points. Tuesday, Wall Street ended the session in a disorganized manner. The Dow Jones lost 0.1% to 12,569.87 points while the Nasdaq 100 has been 0.35% to 2825.77 points. For its part, the broader index S & P 500 yielded 0.13% at 1337.88 points, in a low volume of trade.
Lowering the debt rating of Portugal four notches by Moody's is expected to weigh on investor sentiment on Wall Street.The rating agency has no confidence in the program "ambitious" in the words of the new government which includes to reduce the country's deficit from 9.1% to 5.9% this year, and 3% of 2013, and believes it is likely that Portugal needs a new aid in addition to 78 billion decided last May.
Also on the front of the public finance crisis in Europe, major international banks and insurers have an appointment in Paris today to discuss again the terms of their expected participation in the next plan of aid to Greece.
On the foreign exchange market, the euro fell sharply against the dollar on Wednesday, weighed down by renewed worries about the economic health of the most fragile countries in the euro area.Around 11:00 in Paris, the single European currency was worth 1.4359 dollars against 1.4418 dollars late Tuesday.
Warren Buffett eye on the activities of consumer credit from Citigroup
On the macroeconomic front, investors will be watching in the U guaranteed pay day loans.S., the ISM index of activity in the service in June in 16 hours and the weekly inventory of crude oil after half an hour.The main highlight of the week, however, is expected Friday with the employment figures.
The side of values, the U.S. investor Warren Buffett, through his holding company Berkshire Hathaway, is in line to take over the activities of consumer credit offered for sale by the bank Citigroup, the Wall Street Journal said on its website.
According to the Wall Street Journal, the micro-blogging site Twitter is finalizing a new round of finance which would raise hundreds of millions of dollars and the recovery to $ 7 billion.In December, Twitter announced that it has raised funds "important" from a group of investors who, according to a news site dedicated, focused its total value to about $ 3.7 billion.
Also note, investment banks Goldman Sachs and Morgan Stanley announced Wednesday it had placed with private investors 9.16% of Spanish giant Amadeus travel bookings, to 569.9 million euros.
In addition, DST Systems has announced the acquisition of IntelliSource Healthcare Solutions, a solutions provider operating in the field of health insurance. The terms of the transaction were not disclosed.
For its part, Pfizer has reported positive results for the phase III study conducted in Japan on Lyrica (pregabalin) for the treatment of fibromyalgia.
The debt crisis has blackballed two governments in Ireland and Portugal, and the list is certainly not closed. The damage is more severe on public opinion because they take a nationalist turn. In Germany, almost one in two voters, according to a recent survey, calls for the release of Greece to the euro area. Last month, the Bundestag voted by a majority of only ten members agreed to a new aid plan in Athens. Chancellor Angela Merkel has obtained such authorization on the express condition to require private investors to make "a fair contribution" to the bailout.
Unexpectedly, the debate on financial solidarity in Europe tends to resurface interregional strife. And paradoxically it is in federal countries like Germany or Belgium, the tensions appear more vivid.The euro zone should not lead to "a union transfer," insists there be beyond the Rhine. "Greater integration will not remove economic imbalances. No one knows this better than the Germans who had a similar experience there are almost twenty years during the realization of monetary union between the two Germanys, "says the weekly Der Spiegel in its edition of June 20 The Germans continue to pay until 2019, a special tax called the "Soli" (Solidarität), which has already cost 187 billion euros.
Euroscepticism in the richest regions in Europe
In Belgium, a country Europhile if any, the antagonism between Flanders and Wallonia reaches new levels. The two communities are unable to agree to form a government, the Prime Minister, Yves Leterme, is reduced to administer the routine business since April 2010.Experts struggle with blows of figures to assess the transfers flowing North Flemish Francophone south. They represent an annual 11 billion euros, according to the Flemish Institute of economy and society (Vives). False, answer the French, with this basic argument: Belgium charges taxpayers in their homes and not where they work, as recommended by the international law. If this standard was followed, Brussels, attached to the French-speaking area, recover 4 billion euros of income tax.
Euroscepticism would it be more marked in the richest regions in Europe? This is clearly the case in Italy: Northern League campaigned for the prosperous regions of the Po Valley found a form of independence political-administrative and fiscal, while maintaining the strongest prejudices vis-à-vis the euro no fax pay day loan.
Not so in contrast to France.Regional differences are however not lower than in the rest of the continent but they are resolved in a more gentle. And the Ile-de-France, and its ten million inhabitants, it is by far the most productive region of the hexagon: it polarizes alone 29% of GDP, gross domestic product of the country, but represents only 22% of the income of the French (according to figures from INSEE). The explanation for this defect is simple: on one side, 7% of payroll companies Ile-de-France are paid to employees who live outside and conversely only 14.5% French pensioners living in the Paris region.The latter is losing both ways: a significant portion of its revenues from production escapes and receives limited resources from the inactive, who prefer other lands.
Centralism French or German federalism
He welcomed such an "invisible circulation of wealth" between the territories of the Republic, in the words of happy economic geography Davezies Laurent. The Limousin and Corsica can be very productive while enjoying relative prosperity, thanks to the mobility of the French who will spend their vacation or retirement. These contributions and income of private individuals play a more fundamental transfers of public money themselves. "Similarly, the savings is in the province and bank credits in the Ile-de-France, but these movements do not create real problems protest across regions.This is probably due to mixing of populations: from birth to retirement, through studies and work, the French used to change the place throughout their lives, "noted Jean-Luc Biacabe, Director of Foresight to the Chamber of Commerce and Industry of Paris.
Often criticized for its lack of centralization and autonomy of its regions, France is she a model of harmony for its neighbors? The Germans, because of their culture of federal government, are much more aware that the French fiscal federalism in the euro area is currently in practice be established. The Bundestag is alarmed by the German contribution to the European guarantees of financial stability, to 123 billion euros. The National Assembly does not seem moved by our share, yet the same magnitude because of the weight savings (three quarters).In Germany, it continues to quote the formula of Ernest Renan, 1862, "A customs union is not a nation." In Paris, the euro is considered the homeland.
From our correspondent in London
British Prime Minister David Cameron faces his first big Thursday-day strike in the public sector as opposed to pension reform. Approximately 600,000 employees of which a majority of teachers and members of the Border Police should follow suit, causing the closure of thousands of schools in the country and major disruptions at airports.
Trade unions in the public protest against the passage of the retirement age for all staff to 66 by 2020 (it was already 65 years for men and 60 for women) and against the increase in taxes for pensions.
"This will be the biggest social movement since the general strike" of 1926, promised Dave Prentis, general secretary of Unison, the largest union of public service.The country will certainly not be stopped during the great miners' strike of 1926 since the work stoppage will last only twenty-four hours and will not be extended. However, the subject of pensions involves all teachers.So much so that for the first time in 127 years of existence, the union moderate the association of professors and teachers in higher education (ATL), which has many contributors in private schools in the UK, called on its members to participate in a work stoppage at the national level.
800,000 new employees in Blair
During the session of questions to Prime Minister on Wednesday in the House of Commons, David Cameron said "there was no justification to strike as negotiations are still ongoing with the unions guaranteed fast personal loans." But the discussions last minute held Monday at Whitehall with the union representatives were far from successful.The Chancellor of the Exchequer George Osborne is absolutely not ready to make concessions on a reform he described as essential to provide the balance of the pension system, weighed down by the recruitment of 800,000 new staff under Tony Blair . The Ministry of Finance has estimated 10 billion pounds (11 billion) the cost to taxpayers of a postponement of the pension reform.
The austerity is, indeed, the slogan of the coalition led by the Conservatives with the Liberal Democrats since last year. The goal that David Cameron has established with the support of the Deputy Prime Minister Nick Clegg is to eliminate substantially all of the public deficit by 2015, making 81 billion pounds of budget savings over the period.The drastic reduction of public spending is accompanied by a wage freeze for two years and the removal of more than 300,000 jobs in the public service. The main public service union, Unison, has not joined the social movement Thursday, for procedural reasons but promised a seamless mobilization of its 1.2 million members in July and next fall if the government made no concession.
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"Extending the retirement age spreads
With his candidacy in the general direction of the IMF, announced Saturday at the last minute, after those of Christine Lagarde and Mexican Agustin Carstens, head of the Central Bank of Israel will test the sincerity of the countries facing the board IMF. They have been saying for weeks that "the competence and not nationality" should prevail in the choice of successor, Dominique Strauss-Kahn.
Now Stanley Fischer, highly appreciated by the staff of the Fund where it is still nicknamed "Stan" is one of the best economists in the world. He has unparalleled experience in managing crises. Graduated from the London School of Economics and Massachusetts Institute of Technology (MIT), he worked with Nobel Prize winner Paul Samuelson and Robert Solow. He directed the thesis of Ben Bernanke, the Fed chief. He is the author of economics textbooks for reference.IMF number two in the 1990s, alongside the French director Michel Camdessus, he played a key role in managing crises that shook Mexico, Asia and Russia – its remedies are also not allowed only good memories to the countries concerned. But Fischer is a pragmatist. He has learned the lessons from the mistakes of the IMF in the 1990s ", provides a framework for the institution. At the head of the Central Bank of Israel, it also helped that the country would emerge from the economic crisis in good shape and enjoys a high popularity.
Dual Nationality
However, Stanley Fischer knows better than anyone that has little chance of being elected. The first drawback of this modest man, sparkling in the light of intelligence, is his age personal loan for poor credit. The IMF Articles of Agreement stipulate that the candidate for the superintendent must be under 65 years. Now it has 67.It should therefore be that the board make an exception for his particular case.
Second handicap in practice even more problematic: his nationality. Or rather "its" nationalities. Born in Rhodesia (now Zambia), relatives of Jewish immigrants from Latvia and Lithuania, trained in London, Stanley Fischer has an Israeli passport and a U.S. passport. The first could play against him in some emerging countries, which are among the states in the Middle East conflict with Israel or supporting them. The second might also interfere. It is time that an American was proposed by Bill Clinton as number two in the IMF in 1994. However, in the traditional allocation of posts – that's just emerging challenge – is the World Bank which amounts to an American (Robert Zoellick), while the IMF is the preserve of Europeans.Even though they deny it, they do not intend to cede this seat, especially during a storm on the euro area.
Unless the matter is suddenly deemed unacceptable Tapie, Christine Lagarde remains the overwhelming favorite. The French Minister of Economy has received this weekend the support of Indonesia, and Egypt, during a trip to Cairo. His campaign trail is also passed through Jeddah, where his counterpart has expressed support for Saudi Arabia to his candidacy. She remained silent on the emergence of this new Israeli competitor.
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"Lagarde still leading the race for the IMF
Lunch with Warren Buffett this year will cost 2.63 million dollars to the winner of the traditional auction held once per year to a charity. Only two bidders this time participated in the sale held on the eBay website, but the low number of candidates did not prevent the sums involved to reach a record level. The winner has indeed paid 111 euros extra to beat the 2010. The latter, who wishes to remain anonymous, then share the meal with one of the richest men in the world between June 27 and July 11 next, in the famous New York restaurant Smith & Wollensky. It may be accompanied by seven friends of his choice.
Fortune ranked third worldwide after the Mexican magnate Carlos Slim Helu and Microsoft founder Bill Gates, Warren Buffett, aged 80, is head of investment company Berkshire Hathaway Inc.The idea to donate the money raised at auction for a lunch came to the investor in 2000 when his wife, Susan, now deceased, presented him with the Glide Foundation and its founder, the Rev. Cecil Williams. As in previous years, funds raised for this twelfth luncheon will be donated to benefit the charity, which helps disadvantaged residents of San Francisco. Through these annual lunches, Buffett has managed to raise over $ 9 million.
50% of fortune to charity
Spurred by Warren Buffett and Bill Gates, several American millionaires have pledged to donate over 50% of their fortune to charity easy payday loans.This initiative, called "Giving Pledge" ("Pledge") was launched in June 2010 and already has 69 signatories, including director George Lucas, CNN founder Ted Turner, or the co-founder and CEO of Facebook Mark Zuckerberg. "We see tremendous progress in just one year", says Warren Buffett in a statement. "I am delighted that so many people who have done well in America publicly commit and participate in philanthropy."
But despite the enthusiasm of the creators of the association "Giving pledge," they are struggling to find recruits abroad. Hoping to make a successful campaign in the Middle Kingdom, which houses a quarter of large fortunes in Asia, Bill Gates and Warren Buffett went to Beijing in September 2010 for a charity dinner party, after which a very small number of guests would have answered the call.The list of philanthropists also contains no French name, despite the presence of four large fortunes (Bernard Arnault (LVMH), Liliane Bettencourt (L'Oréal), Francois Pinault (PPR) and Serge Dassault (Dassault Aviation) in the Top 100 Forbes.
The government is very worried by the drought that has spread to 61 French departments and is willing to provide aid to farmers. Nicolas Sarkozy, who is in the Charente on Thursday presented a plan to help farmers affected by drought which includes a "shift one year" repayment of loans granted to farmers in 2009, and waived the Tax on undeveloped land.
"It is essentially a cash flow problem is (…), you repay your debts, or you pay for your food animals," said Nicolas Sarkozy after visiting the operation of a cattle farmer Montemboeuf . "We will find you some leeway and we will shift all the payments of a year," he added. "Essentially this is a map of deferments," stressed the head of state.He stressed that the "encryption" of this measure, the state will take over the payment of interest owed by farmers, could not be established "now" does not exclude other measures if necessary .
A budget of 500 million
At a roundtable in La Rochefoucauld, the Head of State later clarified that this related only to the reimbursement of aid paid under the plan launched in 2009 Poligny (Jura). "I just do not tell the difference repayment of all loans in French agriculture, it must be serious," he said. During the roundtable, the president also said that "farmers in the affected areas would benefit from an exemption from tax on undeveloped land (…) which represents 300 million euros."
In the process, he said that the state would pay the national guarantee fund against agricultural disasters, mobilized by the Minister of Agriculture, Bruno Le Maire, a budget of around EUR 200 million to enable the payment Advance compensation "from the month of September business cards." "On 12 July there will be a first test session files (…) the first payments will be held in September," he said.
Facilities of National Defence made provisions
Finally, Nicolas Sarkozy has announced, next week, a meeting of professional agricultural organizations with the Ministers of Agriculture, Ecology and Defense, as well as the CEO of SNCF to adjust logistical problems posed by the movement of fodder from farmers in difficulty."The problem is less a production problem at those you book (fodder) that a massive logistical problem," he said, adding that "national defense facilities" will be made available to allow storage straw and fodder.
In his speech, the head of state has ruled out any direct assistance to farmers in difficulty. "Do not fall back into bad habits to give you benefits that would be declared illegal (by Brussels, ed) in a few months," he said.
In addition to these economic measures, Nicolas Sarkozy also announced the establishment of a five-year plan to create water reservoirs and reduced volumes of water used by agriculture. "We must learn how to use the water," he concluded.
(With AFP)
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Small form for Wall Street to start the week. At the close, the Dow Jones lost 0.50% to 12,089.96 points, the Standard & Poor's was down 1.08% at 1286.17 points and the Nasdaq dropped 1.11% to 2702.56 points.
The scheduled end of the second program of quantitative easing (QE2) of the Federal Reserve also weighed on the trend on Wall Street. Started last August, the program of monetary easing had allowed the S & P 500 gain 30% over a period of eight months through April. The S & P 500 has since lost 5% from its peak last month.
The absence of major economic indicators or corporate earnings later in the week also makes investors excited.
Portugal calls for calm
Concerning the problems of sovereign debt in Europe, the new Portuguese government appealed for calm on markets.The President of the Social Democratic Party, Pedro Passos Coelho, who succeeded Jose Socrates, has assured creditors on Sunday night that his country would not be "a burden" for them, promising to "do everything" to "honor the commitments" the Portuguese State.
As a result, U.S. banks suffer: Bank of America loose 3.99% to 10.83 dollars, Citigroup dropped 4.47% to 38.07 dollars and Morgan Stanley sells 2.60% to 22.52 dollars.
On the foreign exchange market, the euro declined slightly against the dollar on Monday after climbing to its highest level since a month after the release of new funding for Greece, while the greenback suffered from concerns about the strength of U.S. economic recovery. In the evening in Paris, the European single currency was worth 1.4570 dollars against 1.4637 dollars on Friday night.The euro climbed to 1.4658 dollars in early morning, its highest level since May 5
Apple introduced its icloud
The side of values, the airline sector is battered on Monday. Delta Airlines coward 3.01% to 9.33 dollars. Forecast company profits will be halved in 2011 because of high oil prices, unrest in the Arab world and natural disasters in Japan, said today the International Air Transport Association (Iata).
Apple: -1.57% to 338.04 dollars
On Monday, Steve Jobs, the boss of Apple announced the service icloud cloud computing. The Cupertino company creates a new front against Amazon, Google and Microsoft.For the "cloud" is expanding.
Goldman Sachs: -1.06% to 133.90 dollars
For its part, the U.S. investment bank Goldman Sachs will make public internal documents on its activities in the mortgage before the crisis, to counter the charges against her in the Senate, says the Wall Street Journal (WSJ).Also according to the American newspaper, the United States are studying the possible impact on competition in the acquisition of patents from bankrupt Canadian telecoms equipment maker Nortel giants of the computer and the internet like Google or Apple.
Fiat: -0.56% to 10.72 dollars
Sergio Marchionne said on Saturday on the sidelines of a conference in Venice, having made an offer to the Canadian government to buy back its share from 1.7% of Chrysler for about $ 125 million, or the same terms as the takeover announced on Thursday from 6% U.S. Treasury for $ 500 million. Two years after taking 20% stake in Chrysler, Fiat Group will officially become the majority in the third of the U.S. Big Three. The price for crossing the symbolic threshold of 50% was indeed set Friday: Fiat will spend 560 million dollars for the last 6% stake held by the U.S. Treasury.This enables him to climb to 52% of capital.
Microsoft: 0.44% to 24.01 dollars Yahoo!: -1.47% to 15.45 dollars
The e-mail services from Microsoft and Yahoo have in turn been the subject of infiltration attempts. The U.S. wants global rules against piracy.
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