Archive for the 'world' Category
The French debt will be increased by about 15 billion euros by 2014 due to the implementation of the plan of aid to Greece reached Thursday night, Francois Fillon said on Friday.
The Prime Minister also called the agreement by EU leaders on a rescue plan for Greece to step absolutely decisive for the euro area.
This increase in debt could undermine the government's objective to begin to reduce the debt ratios of France from 2013.
The Brussels agreement, which owes much to the efforts of France and Germany, pemettra to avoid bankruptcy of some countries in the euro area, said the Prime Minister after explaining the decisions taken Thursday to French parliamentarians at Matignon.
The "golden rule" would entrench the need to reduce deficits in the French Constitution is more than ever, still says the head of government.
First day of opening of the Paris Air Show and business already struggling for their full long-awaited appointment of professionals. Before an audience of professionals in the aerospace, Nicolas Sarkozy called the area "to meet the challenges of globalization." "If we're not competitive, there is more than aviation industry, he said. There is only one possible strategy, the challenge of globalization by being more innovative, more creative and more competitive. "
The state has "a role" in the strategic industrial sectors, also recalled the president, referring to the "decades of public investment" in aeronautics and the level of credit facilities granted to the defense "despite the crisis ".So it is "no way" to abandon the research tax credit, assured Nicolas Sarkozy, adding that allocations of "20 billion euros of expenses" provided in the large loan will be confirmed "in a few days " business card templates.
• Boeing signed the first major order
Qatar Airways opened the show Monday orders. The airline, growing, has ordered six Boeing 777-300 long-haul aircraft ER for a list price of $ 1.7 billion. It already has 25 Boeing, including 15 Boeing 777. "The Boeing 777 continues to play a key role in our development strategy," said the CEO of the national airline of Qatar, Akbar Al Baker.
President Nicolas Sarkozy and Valerie Pécresse, Minister of Higher Education and Research, met the head of EADS, Louis Welsh.
The record turns Greek puzzles. In Brussels on Tuesday, finance ministers of the Eurogroup have once again gathered to discuss a new rescue plan, with the stumbling block of how to involve private creditors.
The coming days ahead crucial step after the meeting convened in emergency Tuesday night. The future plan for assistance must be discussed Monday during a Eurogroup long planned – this one – in the context of the EU summit on 23 and 24 JuneMeanwhile, Nicolas Sarkozy and Angela Merkel should also mention the issue in Berlin on Friday.
Crushed by the weight of a huge debt of 350 billion euros, Athens has already obtained a loan of 110 billion last year, and creditors are preparing to give a hand to the pocket extension could be around 90 billion euros, according to figures frequently mentioned.
Reactions conservative banks
"The German government is ready to take additional measures," said Tuesday the German finance minister, Wolfgang Schäuble, while holding that "of course" private sector participation was "an element" of any additional program.His Dutch counterpart, Jan Kees de Jager, for his part felt that the private sector should shoulder more than 30% of a new assistance plan.
But the European Commission, the ECB and France in particular, warn against any commitments forced march of banks and other pension funds, which could have a destabilizing effect on markets. "We are against the involvement other than a voluntary private creditors," was repeated before MEPs Mario Draghi, who should succeed Jean-Claude Trichet in November.
For its part, the Commissioner of Economic Affairs, Olli Rehn, has talked about the preparation of an "Agreement on the basis of the Vienna initiative, under which banks extend the term of their loans and do so voluntarily."For the Belgian Finance Minister Didier Reynders, "all sorts of authoritarian measures likely would include a risk for Portugal or Ireland, a risk for the euro area."
Several options are on the table. Berlin calls for an exchange of bonds, which would lengthen the debt maturity of seven years. The other track to the study is a continuation of voluntary debt maturities (rollover).
The ground is shifting, investors can quickly interpret a conscription as a step toward bankruptcy. As a warning, the rating agency Standard & Poor's downgraded three notches Monday note of Greece, to "CCC".
From the banking side, the reactions are currently cautious.The German Banking Federation Saturday approved the principle of private sector participation, without specifying the terms, while the governor of the Bank of France showed its confidence in the financial system driver (see below). French and German institutions are most at risk from international creditors.
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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.
P & T are back! As of Monday, fetching their stamps to the Post, the French can also buy a mobile phone package. After Virgin, Auchan, NRJ and the CIC, La Poste launched into the deep end of the phone and returned to his first love. The group will formalize its new offer on Monday morning for the general public in an office of the seventh arrondissement of Paris.
The state shareholder of the Post Office insisted that the tariffs encourage the purchasing power. The offer is built packages blocked packages "voice" and SMS packages and web. Their prices will be aggressive, with voice plans starting from 10 euros a month for 30 minutes or SMS packages, Internet, unlimited emails from 21 euros for two hours, depending on the comparator EDCOM Internet. To bring prices down, the Post Office will be offering "naked" without a phone, with a package in return for cheaper.It should thus not to market the iPhone.
For the Post, this launch is strategically at a time when mail volumes are declining. It comes as the group announced the refocusing of its business in offices on its historic businesses: mail, parcels and bank. Finished stationery, gift boxes, DVDs, books …
La Poste, which is already the leading provider of prepaid cards in France with 500,000 customers and 120 million euros of turnover, is 800,000 mobile customers in 2012. She wants to reach 2 million customers and 500 million euros in turnover in 2015. "This project does not create jobs, worries already Nicolas Galepides, Federal Secretary at SUD-PTT.If this is not the expected success, what will happen to the 3,000 officers who have now agreed to spend most of their time selling phones? ".
Partnership with SFR
In Italy, Poste Italiane has made the same bet, betting also on the strength of its network of 14,000 outlets. In 2007, she launched PosteMobile, becoming the first postal operator in the world to get into the mobile best payday advance. Today PosteMobile claiming almost 2 million SIM cards and a first gain of 5.5 million euros last year. "Apart from the Italian Post, no other major European position has not launched a large scale in mobile telephony," said Guillaume Lacroix, director of postal operations to Arcep. But it is quite logical.French and Italian positions are the only two to have retained the business of banking and at the same time, a very important office network that requires them to develop new activities to absorb heavy fixed costs. "
The Post, which has no network telecom borrow the SFR, with whom he established a joint venture: Post Mobile. Why SFR assistance he and a competitor to gain a foothold in the market? On the one hand, it will affect the profits of the joint venture on the other hand, he will receive the rent for the lease of its network. On the other hand, the great rival SFR is not feared by the Post, which enters the bottom of the market, where positions are held securely. It's Free, who will attack the top market, where the battle is still alive.Finally, SFR, rather strong in the cities, the Post hopes to make its armed campaign to conquer and to counter Orange.
The main advantage of the mobile unit is in fact a network of 17,000 outlets gill France. Tenders will be initially available in the 1000 largest post offices. But the biggest reservoir of customers lies more in rural areas. One key to the success of La Poste Mobile is also the speed at which it will be able to extend its offer for its entire distribution network.
Another issue: what is the role of La Banque Postale in this adventure? It seems for the moment few involved. Yet the success of CM-CIC Mobile, which just passed the 900, 000 active clients and 200 million euros of turnover, showing that banks are legitimized to sell the mobile. And the bank leverage, it could attract young people.
It was only called reform, but the mobilization of EDF employees in particular have been enough to reverse the direction of the electrician.
Monday, LEU (French Union of Electricians), which represents an area heavily dominated by EDF and GDF Suez announced that it would not implement tariff reform agents put on the negotiating table last February. But on April 7, to call their unions, employees of the electrician had made a real show of force: almost 60% of them went on strike on behalf of the acquis, mobilization much higher than that observed during movement on pensions fall, for example.
Monday LEU advanced cautiously that "reform conditions were not met."Exit, therefore, the development plan benefit enjoyed today 300,000 homes for active and retired officers of EDF and GDF. Currently, their bill is 5% or 10% of the price paid by the general public. The proposed reform would not cause the end of February to catch up with, but at least to change the tariff agent in parallel regular rates. Ultimately, according to projections, an EDF employee would have paid its electricity around 20% of the price charged to the individual lambda.
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After France, Germany. The support of Nicolas Sarkozy to Mario Draghi should accelerate an official position in Berlin, which will be decisive to the European Council in June If Angela Merkel Knights turn Mario Draghi, the Italian's appointment is granted. If she vetoes, even verbal, post escape him.
According to relatives of the Chancellery cited by the business press, Angela Merkel is more qu'embarrassée by the statement by Nicolas Sarkozy, who allegedly caught short once more."The government will decide on possible candidates in a timely manner," said the spokesman for the German government.
"The decision on the successor of ECB President Jean-Claude Trichet, will be taken at the next EU summit," said Steffen Seibert.
Contrary to his finance minister Wolfgang Schäuble, Angela Merkel believes that the arrival of an Italian to the position of treasurer general of Europe would be an indefensible decision against the German public.
"At any price this Italian!"
The popular press, leading Bild, has continued to point the finger at the overspending in the South."At any price this Italian! "Until recently headlined the tabloid Berliner, who does not hesitate to denounce tax evasion in Greece and the taste of the Italians for inflation.
The euro crisis has revived the Germans the trauma of abandonment of the Deutschmark, for countries of the "Club Med" they never considered worthy of the single currency. At the time of the creation of the euro, Germany was suspicious of accounts of Italy … In this context, the appointment of Mario Draghi, capable and respected as it is, at least appear iconoclastic in Germany .
However, the application of the Italian made his way into the German political circles. After having praised the German economic model in the press Frankfurt, Mario Draghi has managed to win support weight in the person of Wolfgang Schäuble, who has the ear of the Chancellor."Schäuble enjoys good reputation Draghi as central banker, his integrity and personality," says a senior official in the Handelsblatt.
More than the opinion of Wolfgang Schäuble, is the support of Nicolas Sarkozy puts Chancellor in a difficult position. Exercise a veto Draghi's candidacy to head the ECB might trigger a new crisis in the euro area and create a damaging conflict with France, even as relations between Paris and Berlin were severely affected by denial Germany to support the UN resolution on Libya.
Twitter to keep its territory, San Francisco has agreed to reduce its withdrawals. The dynamic Internet group threatened to leave town if he did not get an exemption from tax assessments. The municipality sold late last week. "The town where we grew up and started our next house will remain," announced on the blog's group communications manager, Sean Garrett.
Twitter threatened to move from Brisbane, a town in the suburbs south of San Francisco, closer to the heart of Silicon Valley, where the headquarters of many groups and start-ups on the web. The CFO of Twitter, Rowghani Ali, believed a move would allow the group to save 30 million dollars in taxes, rents and other expenses over the next five years. "A significant difference for a company our size," said Ali Rowghani.According to eMarketer estimates, the turnover of Twitter totaled $ 45 million in 2010.
San Francisco did not want to lose the company that is revitalizing its image. Twitter has played. "Our growth is able to generate the creation of a true business center in our area," argues Ali Rowghani. The municipality has decided to grant exemptions from social contributions for new employees for companies that locate in certain neighborhoods in decline pay day loans. Twitter, which has 400 employees, plans to have nearly 3,000 in 2012.
Tax on wages
The municipality, it is true, remains unwelcoming financially for Internet groups. It is the only California tax corporations based on employees' income.Companies paying more than $ 250,000 in payroll is subject to a fee equivalent to 1.5% of the sum. Moreover, this tax applies to all forms of income, including profits realized on the resale of stock options, says the New York Times. This form of remuneration is very popular with start-ups and other Internet groups.
After facing the group sold microblogging, San Francisco is now facing demands from other companies. Specialist Zynga games online community, which produces Farmville, complained of this privilege and threatens to turn to leave the city. The New York Times, "legal services in the city now planchent exemption from taxes on wages covering the whole surface of the city."
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Enters the digital manners but the paper remains a mainstay for news readers. Over the last three months, 42% of them have downloaded or streamed digital press on websites, against 58% who did not plunge, according to the third barometer REC conducted by the institute GfK France. In digital players, 53% of their time is devoted to digital media, against 47% in the paper.
"These numbers are slow to change, says Philip Person, entertainment director at GfK. But not all news readers are gradually converting to the new media, much faster than readers of books, which are only 10% download e-books. "In terms of intentions, 47% of respondents plan to upload or to consult the digital press in the past three months. 22% consider applications via mobile phones or tablets.
The changeover is very real, but it is far from total. Only 11% of those who download or access the online press no longer use paper. Complementarity emerges among the clipboard and digital press. But she has yet to fix, as offers of pay information online will require changes in behavior.
Dailies favored
The news broadcast by the general news sites attracted 6.6 million daily users, according to the statement Médiamétrie in March. In their research online, 79% of readers prefer digital sites of national newspapers (Le Figaro, Le Monde …), far ahead of those of the regional daily press (Ouest France …) and news magazines (L'Express, Le Point …). Normally, they are the ones that produce the largest share of the supply of online content."The information is very diverse, both in terms of themes that treatment modes, flash and gross factual background folder, via blogs, etc.." Noted Jean-Marie Charon and Patrick Le Floch, authors of The Press online. "In times of hot news, as during the events of recent times in Japan or in Arab countries, people need to know what is happening and quickly," says Philip Person. The Internet has become a tool to meet this demand. "
In recent weeks, Archos, the group specializes in digital tablets midrange was quite surprised markets positively. Accustomed to receiving positive signals about the group's business, investors were more sensitive to the details surrounding this Tuesday announced the launch of a capital increase of nearly 26.5 million euros for largely to fund growth, but also to clean up the group's finances.
Croches Henry, the founder and manager does not Soucre
The reasons for the transaction are clear, namely the prepayment of a loan of 5 million euros in annual interest rate of 20% (due late 2013), and development in new countries.But the absence of any warranty is enough to frighten investors, while even Crohas, the founding director of the company, has announced his intention not to subscribe the capital increase, and let its shareholding in his company go from 16.31% to approximately 13%. "This is not the subject of a bank guarantee. Furthermore, no shareholder of the company has made a commitment underwriting, "said the statement issued last Tuesday morning by Archos.
To date, and except Crohas, Archos has no reference to its shareholder capital. None has more than 5% of the round. This may explain the lack of commitment from all minority shareholders, and therefore potentially less affected by the strategic aspect of the operation.Crohas, despite its non-subscription, also keeps his hand over 13% of the capital, which negates the potential for him to lose control of his group.
But the signal sent by an officer (who is the founder) market is still frowned upon by investors, who see there is a lack of confidence about future activity, is a sign of personal financial concerns from the leader in question. Result, the title Archos lost more than 12% at the Paris Bourse, to 7.54 euros. Contacted, and traveling abroad, Crohas could not elaborate on the reasons for his choice, which was not likely to reassure investors no fax payday loans.
A risky operation after soaring title
Because of this last cold spell during the Archos: the subscription price.Admittedly, the title has exploded in recent weeks (+87% since January 1), in the wake of the sales figures of the group. But the premium offered, approximately 26.5% over the closing price on April 15, should convince shareholders less than the 45% offered in December 2009, during the last capital increase (19.4 million euros ). Moreover, to 6.50 euros, the transaction turns now more risky for the potential subscriber, especially after such a rise in the stock. For example, last fundraiser in December 2009 was made at a price of 2.2 euros. The subscription commitments had now reached 75%.
The financial markets fear an obstacle to development
The operation seems to meet today many risk factors. No guarantee of success, and especially the obligation to reach 75% of amounts pledged."If the threshold of three-quarters was not reached, the transaction would be canceled," says besides Archos. This would mean a stop to its financial development, very detrimental to a growing market where latecomers are fast behind. A scenario that seem to fear the operators on Tuesday.
These should be particularly careful in the coming sessions in progress, then at the end of the operation. The subscription period which begins April 21, will run until May 4, inclusive, for a settlement of shares expected May 17 This fundraiser is with maintaining the preferential subscription rights, five old shares entitling to one new share. And if the capital increase met a strong membership, unlike that suggests the market reaction on Tuesday, its amount could then be increased to 30.42 million euros.
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