This price may seem a bit high at first sight. But it seems the price to pay to enter a market enjoying strong growth: 10% per year until 2014 according to Gartner.Especially as CPM Braxis seem to do much better than the market's turnover is expected to 450 million euros in 2010, up 20% and operating margin should be about 6%.

"Brazil is an important market, it is twice as important as the Chinese market," said CEO Paul Hermelin, during a conference call.

IBM, Accenture, HP and Unisys loyal

Brazil represents 47% of the IT services market in Latin America, valued at $ 23 billion, says Capgemini.CPM Braxis employs 5,500 employees and has 200 customers, particularly in the financial sector, but it is also present in the telecom sector and industry.

"This transaction will enable Capgemini to enter the Brazilian market through the front door in a market dominated by American players, the top 4 players in the market as IBM, Accenture, HP / EDS and Unisys that lock them four to 25% market, "says Dov Levy, analyst at CM-CIC Securities.

The capital increase will be financed from net cash of the group.It will be done through a capital increase CPM Braxis 129 million underwritten by Capgemini, coupled to a redemption of shares from existing shareholders of the Brazilian society of 104 million euros.

In exchange, the news is appreciated: 1.48% to 35.07 euros when the market drops 0.69% to 3598.99 points, about 10 hours.

ALSO READ:

Capgemini, confident in the recovery, raising its forecast

Capgemini ready to make acquisitions

After the expensive acquisition of Medical Nutrition and merge with the Russian Unimilk, the operation is limited in scope: Danone said that the turnover of Immédia for 2009 is "almost" 4 million euros.

Danone already has a foothold in the market for fruit smoothies and other drinks in this April, the group created a joint venture with US-based Chiquita to market these products in Europe. But the group was not present on this segment in France.This is done with the acquisition of Immedia, founded in 2005 that distributes its products in France. Step by step, the group strengthens its position on products made from fruits, healthy products to high nutritional qualities that correspond to the axis of development chosen by the French group.

At the Paris Bourse, the title Danone was down 0.92% to 41.12 euros while the CAC 40 was down 1.40%.

At the announcement in late June, the assignment to the British insurer Resolution a part of its business life, savings and retirement in the United Kingdom, CEO Henri de Castries had indicated that the operation would force the group to see a loss of about 1.4 billion euros. She finally reached 1.478 billion.

Besides this exception, the operating income was down slightly more, from 3% to 2.082 billion euros, as markets anticipate that 1.884 billion.A decline mainly due to the declining contribution of the activity damage (-9%) and asset management (-15%), partly offset by a 6% increase in operating income for life, savings and retirement.

The total turnover of AXA was up by 1.4% to 49.9 billion euros in the first six months of the year.

In exchange, the title Axa lost 10.9% since the beginning of the year, while the European index DJStoxx insurance is up 3.16%.

Marge and emerging areas in the crosshairs

Henri de Castries, CEO of the group, commenting on these results this morning on the group's website, said that the figures "show the strength of (our) model and the ability to do what we said we would do to give pride of our margins and long term. "AXA is pleased to have increased its margin on new business, to 19.1%, against 16% a year ago.

The emerging areas, particularly targeted by the group as part of its strategy for growth, have reached a good performance. In southeast Asia and China, the new business activity has almost doubled from one year to another. In Hong Kong and Australia, business is good too (+19% and +18%). Other key points of the group, Central Europe and East, including Turkey.France, the United States and Japan, they, are still difficult times, with decreases in activity by 12%, 12% and 13%.

AXA Asia Pacific: the benefit flexes

AXA Asia Pacific, the target of a takeover bid of 11.5 billion U.S. dollars from National Australia Bank, reported Wednesday a 19% drop in its first-half profit attributable to the fragile financial markets.

AXA Asia Pacific has announced a profit of 219.2 million Australian dollars for the first six months of the year, a figure in line with market expectations.

ALSO READ:

"The activities in the United Kingdom Axa sold 3.3 billion

"Interview – Axa dedicates its resources to growth markets

Based on list prices, purely indicative, orders placed by the two manufacturers accounted for a turnover of about 23.65 billion dollars (17.85 billion euros) in the middle of the afternoon.

While Boeing has logged 70 orders for aircraft for a total of about 12 billion dollars, Airbus announced Monday it had received 122 aircraft orders totaling nearly 11.64 billion. In detail, the Russian airline Aeroflot has placed an order for 11 A330-300, or approximately $ 2.34 billion.(See

Air Lease Corp., a company leasing and financing aircraft, confirmed it had ordered 31 Airbus A320s (2.52 billion dollars) and 20 A321-200 ($ 1.91 billion), representing a total 4.43 billion for these 51 aircraft no fax cash loans.

"In the current environment, reducing operating costs and fuel consumption, respect for the environment and maximum operational flexibility, are also advantages for the airlines. The latest versions of the Airbus single aisle family go far beyond the highest standards, "said Steven F. Udvar-Hazy, CEO of Air Lease Corporation.

Another company leasing and financing aircraft, Gecas, a subsidiary of General Electric, bought 60 A320 family aircraft for an amount valued at about 4.88 billion dollars.Earlier, Gecas Boeing announced an order for 40 new generation 737s in a transaction valued three billion dollars.

The U.S. giant has also received a command that could exceed nine billion dollars for 30 Boeing 777-300 from the Emirates.

In addition, Boeing has said that India could gain 10-12 additional Boeing C-17 plus 10 already planned.

For June alone, the largest drops are collected by Slovakia (-40.6%), Greece (-39.3%) and Bulgaria (-32.1%). In addition to these countries is Germany, the largest European car market, with a decrease of 32.3% to 289,259 vehicles registered. France, second largest market, recorded a decline of 1.3% lighter.To explain this phenomenon, ACEA highlights the end of support measures for the sector, including the scrapping bonus.

The largest increases were reported in Ireland (75.8%), Portugal (62.5%), Finland (54.6%) or Spain (+25.6%) and United Kingdom (+10.8%).

The raids took place simultaneously in 13 cities and were conducted by 150 officers. Credit Suisse, which remained silent on the subject, has finally reacted by saying "cooperate with the authorities." "This is an ongoing investigation, so we can give more information," says the facility.

Unsurprisingly

Since March 19 this year, the Dusseldorf prosecutor's office suggested that he was investigating cons these clients in the fight against tax evasion carried out by the government. The purchase of the CD has already led almost 12.000à denounce himself, according to last count, in late March.

Credit Suisse is not the only Swiss bank in the sights of German authorities. UBS industry leader, is also subject of an investigation, not prosecution, but the authority of financial sector supervision Authority (BaFin).

Negotiations stalled

These searches involved in full discussions between Bern and Berlin on improving the exchange of information between the two countries my credit score. Both governments wish to reach an agreement that also aims to avoid double taxation.

In late March, the finance ministers of the two states signed a convention in this sense, but it is still not signed. Both governments face difficult issues such as control of German assets placed in Switzerland. A working group has also been mandated to expand the proposals and make findings in the fall.

Meanwhile, the convention is not in force, allowing Germany to put pressure on Swiss institutions. The spokesman for the German Finance Ministry wants yet reassuring: "We assume that the negotiations with Switzerland will continue to be constructive and to unfold in an atmosphere of mutual trust." He says they will, if successful, to "render obsolete" files using File Swiss bank clients stolen and resold.

The German technique is the same as that adopted in respect of Liechtenstein. In 2008, the Secret Service had bought a CD of stolen banking data, to 4.2 million euros. Having conducted several surveys, they managed to uncover many fraudsters, including the former boss of Deutsche Post, Klaus Zumwinkel. Under pressure, Liechtenstein was finally ratified an agreement on exchange of information on German assets located within the principality.

OECD urges in this report on the need for States to strengthen their immigration policies which will play a crucial role in the long term to enhance growth."It is important to note that immigrants make a positive contribution to the national economy, especially in times of growth," remarks the Secretary General Angel Gurria free credit report.

And because of demographic changes and shortages of future employment, especially in health and engineering. Thus, maintaining immigration rates at their current level, the population of working age in OECD countries will increase by only 1.9% in the next decade. A percentage that contrasts with the 8.6% recorded between 2000 and 2010. The situation is even worse for France, which will decline by 1%, despite good numbers of births. The reason is that France has one of the highest immigration rate lowest in the OECD.

In this context, the report of the Court was awaited. The sages of the Rue Cambon had already studied the Post in 2003.Returning to their audit work, they were able to measure the progress accomplished: modernization of industrial facilities, improved management of the company's … very positive developments, but that might not be sufficient "to deal deep and structural decline in the mail and opening the postal market on 1 January next competition within the Community. "

The dividends of La Banque Postale

To catch up, according to the Post Office should the Court's experts work on the cost of its network, delays in productivity and quality of its service. Especially as the company's management has adopted a strategic plan, "Ambition 2015", which assumptions are deemed voluntary by the Court. When The Post estimated the reduction in mail volumes between 2008 and 2015 to 30%, the Court suggested that he perform simulations starting with a scenario of a decline of 40%.

Jean-Paul Bailly, CEO of La Poste considers this as severe in 1 hour payday loans. For a leader, the company has shown, given the information available at the time of any possible reactivity to adapt to the collapse of mail. He recalled that in late 2007, "Nobody could anticipate the crisis" mail since, between 2003 and 2007, the total decline in traffic addressed had not exceeded 2.3%. Regarding the criticism on the quality of service, the CEO noted that the objectives set by the government have been exceeded in 2008 and 2009.

The banking subsidiary of La Poste, La Banque Postale, is also discussed. While the Court emphasized an increase in net banking income lower than expected, Jean-Paul Bailly emphasizes the exceptional resistance of La Banque Postale to the financial crisis.He returned to the strategy of developing new business banking (consumer finance, property and casualty …) partnerships. The choice "was in no way constrained by the priority given by the group to other investments."

It is a voluntary process that aims to accelerate the implementation of its services. In this regard, the Governor of the Bank of France in his own response to the report, asked the Post Office to ensure that its subsidiary "has the human skills and techniques required to address this market." The Governor also noted that the distribution rate of 45% of its income in the form of dividend proposed by the strategic plan of the Post Bank, would penalize a period "where capital must be strengthened."

ALSO READ:

The Court of Auditors hairpin Post

To achieve this objective, the minister calls for reducing departmental running costs of 30 billion pounds per year by 2014-2015. The expenditure review will be presented to Parliament on 20 October. The salaries of public servants will be frozen for two years.Similarly, net borrowing of the state are scaled down to 149 billion pounds this year, six billion less than expected last week by the Office for Budget Responsibility (OBR), the new independent oversight body budget. The net borrowing should be reduced to 116 billion pounds in 2011-2012 to 89 billion in 2012-2013, then gradually to 20 billion in 2015-2016.

Among other measures announced: an increase in VAT, which will be increased to 20% from January 4, 2011, against 17.5% currently. "By the end of the mandate of the current Parliament, this measure alone will bring more than 13 billion pounds per year of additional revenue. This is 13 billion pounds that we will not find a reduction in spending or a tax increase on income, "he said. The tax on capital gains will also spend 18% to 28% from midnight.

The government also plans to raise the legal age of retirement at age 66. Similarly, a decline of social protection spending is projected to save 11 billion pounds by 4-5 years.

Tax on banks

In addition it will create a tax on banks apply from January next year to British and foreign institutions. This new tax will be calculated on the basis of the balance sheets of banks and mutual groups and British subsidiaries of foreign banks' local payday loans for self employed. "Once fully in place, we expect that the tax will generate more than two billion pounds of annual revenue," he said. The Alcohol, tobacco and fuel will not be taxed.

Changes are also in the agenda on taxes.George Osborne announces plans to cut one percentage point per year for four years the corporation tax to bring it to 24% against 28% currently. "This will give us the lowest rate of major Western economies and the lowest rate of G20," he added. Tax relief for 23 million taxpayers paying the lower tax bracket (20%) will be increased by £ 1,000 in April 2011, allowing them to save 170 pounds each. "The burden" will be "fairly shared", according to the minister.

Growth revised downwards

This budget "emergency", described as "inevitable", will impact on growth of the United Kingdom. The British economy should grow more slowly than expected due to fiscal consolidation. Growth in 2011 is revised downwards to 2.3% in 2011 against 2.6% expected by the OBR.But the minister provided an acceleration thereafter: 2.8% in 2012 and 2.9% in 2013.

"We are on track to reduce debt and achieve a structural budget balance by the end of this legislature, George Osborne promises.

Rejection of the Euro

George Osborne in the wake on Tuesday announced the dissolution of the service of his department who was assigned to work on a possible accession of the United Kingdom to the euro. "I can confirm that, as stated in the coalition agreement, this government will not adopt the euro during this Parliament.So I put away the Treasury Department responsible for preparing for the euro, "he told the House of Commons.

The new government combining conservative and liberal Democrats from the legislative elections of May 6, had promised in his coalition program that the United Kingdom does not adopt the euro and making no such move during the term.

ALSO READ:

David Cameron puts the English on bread

So, this Tuesday, the atmosphere should be more tense. The CAC 40, which finished above 3,625 points on Monday, is expected to open in fall Tuesday morning.

The euro was maintained slightly above $ 1.22 on Tuesday morning.For Herman Van Rompuy, Chairperson of the European Council, "the markets have been too lenient in the first ten years of life of the euro, now they do overreact to minor incidents."

Zew, unemployment in Europe and U.S. industry to follow

In the EU, new car registrations in May will be announced at 8:00, then unemployment in the euro area in the first quarter to 11:00, at the same time that the figures on foreign trade in sixteen countries.

Another important figure on Tuesday, the barometer Zew German, regarded by most investors worldwide.

In Strasbourg, European Parliament, held today a press conference of the European Commission issued its opinion on the efforts made by twelve countries, including Spain, France, Portugal and Germany, to reduce their deficits excessive.

In the U.S., the import prices in May will be announced at 14:30, and industrial activity in and around New York for the month of June

Electricity: Bill Nome voted today

EDF, GDF Suez and Poweo could hold the attention while the National Assembly must vote on the bill Nome on the organization of the electricity market.

According to the Socialist deputies, this reform will result in an increase of 11% to 15% of electricity rates for individuals.An interpretation strongly denied the meeting by the Minister of Ecology Jean-Louis Borloo: "I heard here and there that there could be increases in fares. Of course not! "

France Telecom's Orange will now be able to practice cross-selling, the Competition Authority has ruled on Monday that he could, like its competitors Bouygues Telecom and SFR, use it cross his client files and mobile Internet, so far apart.

Such notice "limit the competitive disadvantage imposed on France Telecom" which, as operator of history, is subject to a number of constraints by the competition law, the group responded in a statement.

Video Games This opens Tuesday in Los Angeles at E3, the world exhibition of video games.To be followed, any announcement on the sector.

BanquesNicolas Sarkozy and Angela Merkel will militate G20 for the creation of a tax on banking and financial transactions. The idea of an economic government of the 27 has also been mentioned.

The Societe Generale bank maintains its investor day on Tuesday. She said Monday night that forged a business alliance in the securities business with U.S. Bancorp Fund Services, a subsidiary of U.S. Bancorp U.S. bank.