News: U.S. and World News HeadlinesBreaking news from around the world |
Facebook is preparing to finally get a foothold in the mobile phone industry. The social network would indeed reached an agreement with the Taiwanese smartphone manufacturer HTC that it incorporates the social network within its operating system, reports the specialist site All Things Digital quick payday loan.
Comments Off "The European economic recovery was interrupted." The verdict of the European Commission, which presented on Thursday its autumn forecasts for 2011-2013, is categorical. According to Brussels, all signals of the economy are red. "The sharp drop in confidence hinders investment and consumption, while the slowdown in global growth reduces export and fiscal consolidation to operate emergency weigh on domestic demand." Accordingly, the Institution provides a low growth for the EU in 2012, about 0.6% against 1.9% forecast last spring. In the euro area, GDP is expected to show a slight increase of 0.5%.
The return to growth, albeit slow, is scheduled for 2013 (1.3% in euro area and 1.5% in the EU). Unless additional shock …
Comments Off EU summit, the first act. The leaders of the EU started in Brussels on Sunday morning a summit with the goal of trying to overcome their differences on how to stem the debt crisis that is destabilizing the euro area. The meeting began around 10:20. However, no decision is expected at the end of the summit of which the second act is expected Wednesday. This afternoon, the summit will continue with a meeting of Heads of State of 17 countries in the euro area.
Europe is facing economically to "serious challenges", said President of the European Union, Herman Van Rompuy, at the opening of the meeting. He believed that the decisions to be taken by European leaders to address was "perhaps the most important" they've ever had to face the financial crisis.Greek Prime Minister George Papandreou, also felt it was "time" to take "decisive and effective." "It is clear that the crisis (debt) is not Greek. This is a European crisis, "he judged.
German Chancellor Angela Merkel, however, dampened expectations about the outcome of the summit, from the outset, reaffirming that decisions could be taken next week. "For me it is important to reiterate that today we prepare the decisions of Wednesday" because the negotiations are about "subjects sometimes technically very complex, she said on her arrival in Brussels.
"You have to reassure the markets"
For its part, the Belgian Prime Minister Yves Leterme has tried hard not announce anything at all on Sunday, in light of market pressure."It is essential for tomorrow morning at the opening of markets, we have made sufficient progress so as not to jeopardize the credibility of the euro area," he said. Same story for the European partners have not adopted the single currency, which are concerned about the fallout from the debt crisis. "The crisis in the euro area is being extended to all our economies, including that of Great Britain ', launched the British Prime Minister David Cameron.
What response to the crisis the Europeans do they negotiate? This response is intended in three stages guaranteed cash advance. It must first stabilize the over-indebted Greece and save him a total failure. This will require further international loans and losses of creditor banks in the country. Europe the figure to at least 50%.According to the report of the troika (representatives of the EU, the ECB and the IMF), the discount should be 60% to maintain unchanged the envelope of € 109 billion promised to Greece, as part a second rescue plan officially recorded on July 21. "We remain willing to explore options on a voluntary basis [for each facility, Ed] and realistic prospects for the economy of Greece and the return of that country on the capital markets," said Charles Dallara Saturday night , the president of the Institute of International Finance (IIF), which brings together major global banks.
In return, a bank recapitalization is provided. Countries of the European Union discussed a budget from 107 to 108 billion euros at the meeting of finance ministers on Saturday night.
Finally, we must strengthen the Financial Assistance Fund for the euro area countries in difficulty, the EFSF, firewall against the contagion to Italy and Spain. But differences remain on how to do this, especially between France and Germany. Yesterday, the French proposal to grant a banking license in EFSF was discarded. Only two options are being discussed to increase the firepower of the device: the mechanism acts as a partial insurance of the public debt of troubled countries or the IMF is expected to increase its participation in the scheme.
For the summit this Sunday, German Chancellor and French President had also met Saturday night to try to resolve their differences, following a meeting of EU finance ministers. They both welcomed the "progress" and "advanced" made in the negotiations.
ALSO READ:
"CRISIS SPECIAL – Fear of debt
"The EU is considering 108 billion to bail out banks
"Euro: Merkel will buy time until Wednesday
"GRAPHICS – The crisis of the euro, or the history of contagion
Comments Off "One might think that more French people remained in the Hexagon this summer, which took the train," says David Azema, the Chief Operating Officer of SNCF responsible for the strategy. Between July and September, sales of the travel industry group, which includes the TGV and international routes operated by joint ventures (Thalys, Lyria …) jumped 8.7% in the summer of 2010. Since the beginning of the year, its sales rose 7.1% to 24.19 billion euros, up 5.2% at constant scope and exchange rates.Sales since the beginning of the year is progressing in all areas.
Near the branch, which includes regional trains and also houses Keolis, a subsidiary of public transport, has become the main contributor to the SNCF group with a turnover of over $ 9 billion over nine months, up 6.5% compared to last year. "Proximity" of benefits including state aid to bail out the trains balance of the territory (TET), these unprofitable lines that the state has agreed a year ago to subsidize.
"We are doing better in all branches thanks to the improvement of agreements signed with Réseau Ferré de France, for which the branch Infra work more profitable, but also with the state as part of the TET, said David Azema. Because trains balance of the territory we had last year a loss of 210 million euros.This year, we charge the revenues of the State by this convention. "
A flat on the side of freight transport
However, a shadow appears on the side of freight transport. If SNCF Geodis displays a nine-month increase of 3.8% of its turnover, the logistics sector was down 1.1% in the last quarter. "The activity of Transportation Commission, which worked very well, has declined by 8.7% during the last quarter which is a measure of slower traffic flows between Asia and Europe," says David Azema.
This performance should enable the group to achieve its margin, its leaders do not want to reveal.
ALSO READ:
"Thello, the first competitor of the station to Venice
Comments Off Febrile atmosphere around Dexia announced the dismantling of which is to organize. On Thursday afternoon, the rating on the stock exchange was suspended at the request of the Belgian regulator: the action was losing more than 17% amid rumors that many French-Belgian bank was forced each time to confirm or to reverse. It will again be listed on Monday.
Dexia has confirmed to be entered into exclusive negotiations "with a group of international investors that the government of Luxembourg will attend" to sell its subsidiary private bank, the BIL (Banque Internationale à Luxembourg). This discussion has actually been mainly engaged with the sovereign fund of Qatar, several sources indicate.The Luxembourg Finance Minister, Luc Frieden, for his part, justified the participation of the Grand Duchy as a "minority shareholder" in the name of "systemic" to his country of BIL's 12 billion euros of deposits and forty traditional bank branches.
The first assignment could be raised on Saturday by the Board of Directors of Dexia, intended, according to a close case, to "calibrate the overall strategy of the division of Dexia."
This strategy is already known in outline. This is to sell every major business or large branch. Dexia will gradually emptied of its substance and its assets down to the most difficult to sell, mainly the bond portfolio of 95 billion euros and a life of thirteen years.The State guarantee French and Belgian finance Dexia and ultimately apply to "cantonment" low interest rate personal loans.
On this basis, negotiations, under pressure from the markets and financial authorities who fear a confusion between the case of Dexia and the rest of the European banking sector are extremely complex: in addition to buyers interested in a particular asset, discussion involving the management of Dexia, its shareholders and the Belgian side the French side, and the states.
Mutual distrust
However, the pattern holds only insofar as the current shareholders of Dexia are collectively responsible. The centrifugal forces exerted, especially in Belgium, must be curbed. Thursday, pushing the Belgian regions, according to local press, a scheme of demerger of the retail DBB (Dexia Bank Belgium).
Seen from France, the idea goes wrong, since the ultimate goal of the operation is that the sale of assets – DBB is a price – reported enough money to build the hive and absorb as much as possible losses that would otherwise eventually be collected by the states.
The mistrust is mutual. On the Belgian side, Prime Minister Yves Leterme has hammered yesterday that his country did not intend to be alone with Dexia on the arms. "We must continue to fund all the past, and we will not do it alone," said the Finance Minister Didier Reynders. On this side of the border, negotiations continue on the transfer of the portfolio and lending activities to local authorities in the Deposit and La Banque Postale.
ALSO READ:
"Dexia swells debate on the consequences of support
Comments Off The question of the succession of Yves Carcelle, who turns 65 next year, Louis Vuitton, LVMH's flagship brand is a question that torments long time analysts. It's finally out that Bernard Arnault, chairman of luxury group and parent company of Louis Vuitton, has found a rare bird. The lucky winner is a 47-year Spanish, Jordi Constans, the current head of Danone's fresh dairy products. He worked in the group since 1990. He joined Louis Vuitton to discover the group during the year 2012 and succeeding Carcelle early 2013 at the head of the first luxury brand in the world.
Yves Carcelle take over the presidency of the "Louis Vuitton Foundation" which will open in early 2013 to the completion of the project designed by Frank Gehry. He will remain executive committee member of the LVMH group and be responsible for strategic missions to the President of the Group.
Bernard Arnault acknowledges the work of Yves Carcelle which, since 1990, "hosted the extraordinary journey of Louis Vuitton.".
Comments Off Low growth, but at all levels. The Bouygues group announced Wednesday an increase in sales of 4% in first half (1% at constant exchange rates) to 15.2 billion euros and a net profit of 391 million euros, withdrawal of 27% over the same period the previous year. The net result appears, in turn to an increase of 6% to 752 million euros, the group said in a statement. The debt ratio of the group remains unchanged from the end of June 2010 from 43% to 42%.
As for the 2011 second quarter results, they are also an improvement over the second quarter of 2010. Revenues rose 4%, with an increase in trading profit of 11% and net income of 2%. For its first quarter 2011, Bouygues had reported a turnover of 6.686 billion euros (up 4%), and net income of 34 million euros.
The positive interim results allow Bouygues to revise upwards the target of revenue, it is revised upward to 32 billion euros.
Good activity for all occupations, despite Alstom
All trades of the Bouygues group showed a good business in the first half. Construction Bougues renewed growth and recorded a turnover of 4.7 billion euros, up 4% (+5% in France, 2% internationally), with net income which amounted to 94 million euros (+6%). The order book of the subsidiary recorded a record 15.5 billion euros, up 12% compared to June 30, 2010 and includes the project Balard, up to 1 billion euros.
TF1 realizes a turnover almost stable at 1 no teletrack payday loans.278 billion euros, confirming its ability to control costs and adapt its business model.The group's net profit stood at 119 million euros (61%).
As the group announced, following a first quarter strongly affected by non-recurring expenses, the financial contribution to Alstom was down sharply, with net income of 94 million euros in the first half of 2011 ( 216 million euros in the first half of 2010). However, in line with the second half of 2010/2011, Alstom has experienced strong growth in orders in the first quarter 2011/2012 and confirmed its operating margin target of between 7% and 8% for the year 2011/2012.
Issuer bid of 1.25 billion euro
To address the recent decline in its stock price (-27% since June 1), Bouygues said on Wednesday a draft tender offer in its own shares for total of 1.25 billion euros.This offer is for a maximum of 11.7% stake in the company at a price of 30 euros per share, representing a 30% premium on the closing price on August 30 and a premium of 29% on average months. The repurchased shares will be canceled, the company said in a statement released Wednesday.
The transaction will be submitted for approval at the extraordinary general meeting to be convened on October 10. For information, the offer would be open from 11 to 31 October 2011.
This morning, the rating agency Moody's affirmed the A3 rating of the group, with a stable outlook.
Comments Off The battle for clean cars through renewable energy. Volkswagen, at least, is convinced. The first European car manufacturer is preparing to allocate 1 billion euros to investments in wind, according to the Financial Times Deutschland. It is much more than the expected 600 million more in June by the German firm. Especially since Volkswagen is also pursuing projects in solar and hydropower.
Side wind, the manufacturer would consider equity participation in two offshore wind farms and a partnership with an operator in the industry. These investments contribute to the effort of the group, which wants to reduce its CO2 emissions by 40% in ten years. A concern of the entire industry, faced with the requirements of the Kyoto agreements.
Manufacturers are working extra hard.Volkswagen has completed an agreement in July with Verbund Austrian energy for the latter to furnish 10% of the consumption of its German plants from hydropower. Rival BMW, he has chosen to implement four wind turbines to meet the energy needs of its pilot plant in Leipzig. For its part, Renault formalized in mid-year launch of the biggest photovoltaic project in the world of the automobile easy payday loans. The diamond brand intends to equip its factories with solar panels and other sites handling, or 450 000 m2 the equivalent of 60 football fields. Renault also uses biomass at its plant in Tangiers. But the renewed interest does not end there for the automotive industry.Access to clean energy is one of the strategic equation as Volkswagen, Renault and Toyota are trying to solve other for electric cars.
Green Transport
It is not enough, in fact, to get rid of the gas pump for the valuable label "clean car". In particular, consumers want to ensure that the electricity powering the battery is of solar, wind and others. What strengthen the links between energy operators, be they producers or network operators, and car manufacturers.
Peugeot, which has just launched its electric car iOn, signed in early August a partnership with Iberdrola in Spain.The giant of renewable energy it sells a package "green mobility" where he provides funding to acquire an electric car charging stations and energy supply to 100% "clean". The two groups agreed to promote each other's bids.
Comments Off New black day on Wall Street. After opening in the dark red (-2.19% for the Dow and -3% for the Nasdaq), the New York Stock Exchange closed down a massive. The Dow Jones lost 3.68% to 10,990.58 points and the Nasdaq was unscrewed from 5.22% to 2380.43 points.
The New York Stock Exchange, which has already ended the session on Wednesday on a very hesitant, was weighed down by fears of contagion from the crisis of European debt to U.S. banks and the threat of a relapse of economy after disappointing figures on the employment front in the United States. Symbol of this fear on the recovery, oil finished down 6% in New York, a barrel of "light sweet crude" for September delivery ended at 82.38 dollars.
In Europe, stock markets have been driven into the red, pulled down by banking shares.The markets are worried about the global economic downturn, following the release of retail sales increased very slightly in Britain.
Morgan Stanley is concerned about global growth
Morgan Stanley also lowered its growth forecast of the global economy for the years 2011 and 2012, the revision is stronger for developed countries. In a note published Thursday, the U.S. investment bank now expects growth in global gross domestic product (GDP) of 3.9% in 2011, against 4.2% previously and 3.8% in 2012, instead 4.5%.
The bad mood is compounded by a series of important indicators in the U.S. on Thursday and go in the direction of a faltering economic recovery.
First bad news earlier this afternoon with the weekly jobless claims: The Labor Department reported a larger increase than expected last week. They reach 408,000 registrations, against 399,000 the previous week. Economists on average had expected 400,000. The consumer prices have in turn increased more than expected in July (0.5%), driven by the rebound in gasoline prices.
The index of the Philadelphia Fed, the "Philly Fed" came out in very sharp decline in August, well below expectations. It plunged to -30.7 in August from 3.2 in July, while the consensus of analysts expected a slight rebound to 3.7.He thus reached its lowest level since March 2009.
The U.S. index of leading indicators, however, increased more than expected in July to a record high, due to growth in money supply and a decline in jobless claims, the Conference Board said Thursday.
Finally, existing home resales fell contrary to expectations: they were down 3.5% in July, while analysts expected a 3.8% increase, according to figures from the NAR.
New record for gold
In terms of raw materials, while the stock markets fall, gold has reached a new record on Thursday: an ounce of the precious metal rose to 1816.25 dollars on the spot market. Oil markets, prices opened down sharply in New York, the new access affected in a bad mood.To 15 hours (French time), a barrel of "light sweet crude" for September delivery was trading at 85.02 dollars, down 2.56 dollars compared to the previous day.
On the currency markets, the euro lost some ground against the dollar, struggling to find direction in a sluggish market and cautious with the release of U.S. indicators and always weighed down by the debt crisis in the eurozone. At the close of Wall Street, the euro bought 1.4345 dollars against 1.4428 dollars late Wednesday.
Values of the day
Hewlett-Packard, which published its results before the scheduled time (turnover of 31.2 billion, in line with expectations) and resulted in a trading halt, announced it was negotiating the purchase of Autonomy Corp., a transaction by Bloomberg estimated 10 billion dollars. It envisages the other to separate its computer division, its largest business, but less profitable.It also abandons the tablet touchpad.
NetApp declined by 14.04% in early trade to 35.81 dollars. The group missed the consensus for its first quarter of fiscal 2012, with a turnover of 1.46 billion, against $ 1.51 billion expected by analysts. The net decrease of $ 150.7 million to $ 139.5 million
The communications systems equipment supplier JDS Uniphase (-12.81% to 10.20 dollars) has reported a net quarterly profit of $ 9.3 million, or 4 cents per share against 1.5 million the last year. It provides a low turnover in respect of its first quarter due to adverse economic conditions, but is optimistic in view of its order book.
Coca-Cola (-2.14% to 67.80 dollars) will invest four billion dollars more in China between 2012 and 2014, reported Thursday the New China News Agency, quoting the CEO of the world's leading soft drinks.
Sears Holdings (-8.16% to 55.23 dollars) reported a higher loss than expected in the second quarter, sales were weak and the promotions have started margins.
Ross Stores (-4.86% to 68.31 dollars) has reported a better than expected pofitive the second quarter but is cautious about these results for the rest of the year in a difficult environment.
Dollar Tree (-1.34% to 70.84 dollars) has reported an increase of 22% of its profit in the second quarter.The distributor has revised upwards its forecast for earnings per share (between 3.82 and 3.95 against 3.69 dollars and 3.85 dollars expected in May).
IBM (-4.46% to 163.83 dollars) is one of two candidates vying to buy at Lufthansa subsidiary Lufthansa Systems, the German press reported Thursday. Another potential buyer is the conglomerate Tata Group.
Gap (-5.48% to 15.52 dollars) and Foot Locker (-6% to 17.56 dollars) must publish their results after the close.
Comments Off In the wake of Wall Street, the indices showed last green. The U.S. indices were offered a breath of oxygen, the ones who had suffered a Monday night session black. But did not count on the intervention of the Fed, which ended the great rebound: the Central Bank of the United States (Fed) announced Tuesday it would keep its key interest rate near zero " at least until mid-2013 "and that it was considering new stimulus package to help the economy. These ads have been justified by growth 'considerably slower' than expected and risks "have increased".
What investors consolidate their fear that the U.S. economy slow down seriously. Around 20:30, the Dow Jones clawing over 0.04% to 10,814 points, still below 11,000 points, after crossing the water line briefly.The Standard & Poor's 500 and 100 Nadsad, highly volatile, yet amounted respectively to 1.21% and 1.98%, whereas increases were much more frank queqlues minutes before the Fed speaks. The Fed should seek a delicate compromise between indications that reassure investors around the world, and a formulation that is acceptable to the enemies of inflation.
Also very anxious before the meeting with the Fed, the European and Asian stock market finally closed in the red after a session yoyo. In Paris the CAC 40 fell below 3,000 points for the first time since July 2009. But the trend seems to have subsided, the indices being pressed into the green in the afternoon.
Plummeting after the deteriorating U.S. debt rating last Friday, the Dow ended Monday down 5.55%, falling to 10,809.80 and the lowest level in 10 months. It dropped below the 11,000 points for the first time since October. The Nasdaq, dominated by technology, more copiously unscrewed further, down 6.90%. The speech of President Barack Obama yesterday at the meeting, has little reassured the markets, which have severely plummeted, from both sides of the Atlantic. Furthermore, degradation, on Monday, Standard & Poor's, unsecured notes of Fanny Mae and Freddie Mac, organizations refinancing home loans, a, yesterday, still darkened the picture.These organisms probably were punished because of their dependence on the U.S. federal government.
Global oil demand to decrease
The Organization of Petroleum Exporting Countries Tuesday lowered its forecast for growth in global demand for crude in 2011, citing deteriorating macroeconomic outlook in most advanced economies. In its monthly report, OPEC reduced its forecast of 150,000 barrels per day (bpd) now and plans for this year growth in global demand of 1.21 million bpd of crude.In financial markets, oil prices were up Tuesday at the opening in New York (13 cents to 81.54 dollars), offering an impressive rebound Oil prices were up Tuesday at the opening New York, offering an impressive rebound after falling to levels seen since September.
Earlier this afternoon, investors are aware of a new better than expected, but still not glorifying to the future of U.S. growth. Productivity, which measures hourly output per worker, fell at an annual rate of 0.3% over the period April to June after falling 0.6% the previous quarter (revised from 1.8%). The market expected it folds down from 0.8% in the second quarter.
Face communication at high risk of the Fed tonight, "it is clear that the average productivity of U.S. companies in the second quarter is very far from the concerns of the market and will go unnoticed" analysts suggest Aurel BGC. Especially since the figure is clearly negative, the victim of an increasingly weakened growth.
The market capitalization of U.S. computer maker Apple has briefly exceeded that of the oil giant ExxonMobbil Tuesday, becoming the most expensive company in the world, said a specialist told AFP. The market capitalization of both groups were around 340 billion dollars in the afternoon in New York, told AFP Volokhine Gregory, head of markets for the company portfolio management Meeschaert New York. That of Apple rose temporarily above that of ExxonMobil to 7:20 p.m..
Comments Off