Apr 30 2010

The Paris Bourse slides again

Tag: events, features, finance, technology, worldadmin @ 9:04 pm

In a market somewhat reassured by the prospect of quick release of aid to Greece, investors remained cautious almost the whole length of the session.

Then again, once the bamboo. Shortly before 16 hours, the index unscrewed and recasse 3,800 points, 3787 points exactly (-1.4%). In London, the Footsie – 100 lost 0.91% to 5566 points. In Frankfurt, the Dax fell into the red, and more timidly back 0.11% to 6138 points.

Moody's said the drop in grade nine Greek banks regarding their financial and credit solodit?. And Standard & Poor's lowered its rating on Goldman Sachs.The U.S. Justice had opened a criminal investigation against the American investment bank, say several U.S. media including the Wall Street Journal and Washington Post.

On Thursday, the Paris Bourse was rebounded, following strong quarterly results and hope for a speedy realization of the plan of aid to Greece.

News macroeconomic rich

The producer prices rose 0.6% in March in France after rising 0.1% in February, according to Insee. On a year they show an increase of 2.0%.

In the euro area, inflation has accelerated a bit in April, 1.5% over one year after 1.4% in March, according to Eurostat. The unemployment rate remained stable at 10% in March.Note that France has seen the number of jobseekers in category A decline of 0.2% in March.

In the U.S., the publication of the first estimate of U.S. GDP for the first quarter of 2010 will most watched by investors. The figure will be unveiled at 14:30.

Total, biggest drop in the CAC 40

On Friday, Total reported net income up 9% to 2.3 billion euros. The actions of the oil lost 2.55% to 40.8 euros, the biggest drop in the CAC 40, as investors disappointed by Total's production in relation to its competitors.

In the other direction, Michelin, the second largest increase in the index, rose 2.58% to 54.84 euros. The group unveiled Thursday evening tire sales in line with analysts' expectations. The outlook and actions are "a very good entry point" in stock.

S?chilienne-Sidec (4.76% to 24.2 euros) on Thursday posted a turnover increase of 20.6% in the first quarter of 2010 to 66,200,000 euros, after one year of 2009 by disabled 'significant downtime and lower coal prices.

After Exchange, Latecoere publish its annual results.

Around 15 hours, will begin the General Assembly of shareholders of Renault, where the boss, Carlos Ghosn, should be reappointed to head the automaker.

Vinci downturn

Vinci (-0.83% to 41.75 euros) Thursday announced the signing of a Memorandum of exclusivity with Apax Partners to buy investment fund Faceo company specializing in technical maintenance services.

ADP (+0.14% to 62.5 euros): The Union of French airports (UAF) said on Thursday that the volcano Eyjafj?ll Iceland, which has caused paralysis in air traffic from 15 April has lost to French airports with 30 million euros 16-18000000 for A?roports de Paris.

Rhodia (+0.17% to 17.8 euros) announced Thursday night that successfully placed a bond loan of EUR 500 million maturing in 2018 intended to refinance its senior debt.

Apr 29 2010

Technip finally sees "signs of recovery"

Tag: economic, events, finance, special, technologyadmin @ 6:12 pm

With sales were down 16% to 1.32 billion euros, an EBIT of 139.2 million (-9.6%) and a net profit of 95.9 million euros ( -3.2%), the first quarter of Technip is declining, but these figures are higher than analysts' expectations.

Despite competition "intense in all regions," Thierry Pilenko, CEO of the company has entered the CAC40 almost a year ago, noted "signs of recovery."

The evidence, the backlog has reached the end of March 2010, 8.13 billion euros, compared to 8.02 billion euros at end December 2009 and 6.93 billion euros at end-March 2009."Estimates of the group, envrion 47% of the backlog should take the next nine months of 2010."

In addition, the giant engineering and construction sector of the black gold is pleased to have recorded a total of 1.34 billion euros in new orders in the first quarter of 2010, against 1.15 billion euros a year ago.

Annual target unchanged

Thus, the direction of the oil services specialist confirmed Thursday morning his goals for the current year.Annual revenues are expected in a band between 5.9 and 6.1 billion euros (between -5.5% and -9.5% in one year) and operating margin is still seen stable.

Remember however that annual sales had been revised downward in February, while Technip had published annual results in freefall – net income fell 62% year on year – and the speech concerning the outlook remains worrying .

A contract "major" in Brazil

Yesterday, Wednesday, Technip said it had won a contract by Petrobras for the flexible pipe system driver Tupi field. He refers to the agreement a "major", with "key challenges" at the technical level.This field is situated at 2,200 meters depth of water in reservoirs pr?salif?res Santos Basin, about 300 km off the Brazilian coast.

The transaction amount was not specified. But with this new contract, Technip strengthens its leading position in Brazil, especially in the promising market tanks pr?salif?res.

In Stock

In just two sessions, the Technip shares have lost nearly 8%. Wednesday night, they quoted at under 60 euros to 58.27 euros exactly.

On Thursday morning, the shares resumed colors: they rise from 1.22% to 59.08 euros by 9:30. This is the second best performance of the benchmark index of the Paris market.


"February: Technip provides a further decline in its activity in 2010

Apr 28 2010

Boeing further delays to its B787 program

Tag: business, finance, people, resources, technologyadmin @ 3:12 pm

Bad news for the U.S. aircraft manufacturer Boeing. The rival Airbus has struggled to meet with some of these sub-contractors, according to online edition of the Wall Street Jounal. These problems would delay delivery of that piece of the fuselage of its future long-haul B787 Dreamliner to their place of assembly in Seattle.

These delays fall to worse for the manufacturer seeking to accelerate production of its new aircraft to make up for two years behind its original schedule. The inaugural flight – postponed six times – took place last December 22.

Customers get impatient

Launched in 2004, the program has suffered numerous delays attributed to the complexity of the business. Boeing, the first American exporter, technology showcase and trade United States, wanted to reinvent the way to build a civilian aircraft.He selected composite materials to make the unit lighter. With also new engines, the B787 is expected to be nearly 20% more fuel efficient than the previous generation aircraft.

And during that time, customers get impatient. The Japanese airline ANA must be the first to receive a copy, is normally made by the end of this year. At the inaugural flight last December, many observers felt already this calendar too Ambitious for an aircraft as innovative.

Apr 27 2010

The debt overhang at the top with the crisis

Tag: business, economic, money, resources, top newsadmin @ 12:08 pm

The National Assembly must decide on Tuesday on the bill to regulate the consumer credit. The text, which has already been approved by the Senate must pass the difficult balance between maintaining economic activity supported in part by the credit and the necessary protection of indebted households.

The number of cases filed with the commission of indebtedness that is constantly increasing. A phenomenon considered especially worrisome by the Bank of France that the population affected by the debt overhang is not the same. When creating the indebtedness committee with the law Neiertz 1989, he was helping people who had not managed their budgets: the syndrome of fever buyer where people were abusing the loan to purchase a 4X4 or high-tech products.But since the late 1990s, a new category of people are facing the problem of indebtedness, with the emergence of "new poor", that is to say who, though having a job, fail longer pay the bills of electricity or gas. And the crisis has accentuated the trend by multiplying the number of "accidents of life, including the number of households affected by unemployment cash advance. Since 2008, the Bank of France notes an increase in cases of indebtedness of approximately 16% per year.

The latest statistics released by the agency confirm this movement. 19,380 cases have been filed with the commission in February 2010. 20.5% higher than the previous month.

The Bank, however states that one should not jump to conclusions, due to some seasonality.The first months of the year are in fact traditionally the stigma of Christmas. A phenomenon in which the new text may perhaps act. It provides for a doubling of the period of withdrawal of clients (14 days instead of 7), the obligation of loyalty card stores offered an option "cash" or a limitation of revolving credit and advertising. The banks and specialized agencies should then put more emphasis on the commitment that is a credit on the ease of obtaining money.

Apr 23 2010

Tag: economic, finance, money, people, publicationsadmin @ 7:56 am

A new kind of club opened Thursday in Clermont-Ferrand. Bridge? Tennis? No, DIY! Members buy a card that gives them access to 20 000 references sold on average 30% cheaper than in traditional supermarkets specialized. This offer is based on the concept of DIY Factory, a store 4500 m? (1500 m? outdoor) that tests the independent channel Bricorama (117 outlets in France).

The price of the card, 19 to 149 euros, depends on the period chosen by the customer (7, 30, 90 or 365 days). For example, a project started in spring and completed in early summer, a handyman can do some shopping Sunday for 90 days with the card paid 49 euros.Among the proposed rates: a jar of 500 ml of lacquer painting sold Dulux Valentine 9.55 EUR 19.10 EUR against average in a large area of traditional crafts (-42%), or a sink with Hansgrohe shower proposed 144 70 euros, against 209 euros elsewhere (-31%). Lower prices can reach up to 60%.

The new store, which replaces a Bricorama deficit lies in a catchment area hotly contested, close to a Leroy Merlin, a champion of "hyperchoice (50,000 references), himself leaning against a giant casino, and another discounter, Brico Depot, the brand's low-cost Castorama, both subsidiaries of the UK group Kingfisher.

Impasse on first prize

DIY Factory offers fewer products than the first radius is not proposing building materials as the second pay day loan lenders.It is also missing several major brands like Black & Decker or Bosch, all present at Leroy Merlin, preferring challenger brands recognized pros. Finally there is no first prizes at the heart of its bid, as at Brico Depot. Finally, the third linear are less than those of a trimmed Bricorama.

"It's true discount, but not the trash: we sell at low prices without making concessions on products or service levels," said Erik Haegeman Bricorama CEO, who is without some mention that discounters it considered it less fussy about quality.

"The signs attract customers with low prices to the minimum quality – on which margins are nonexistent – and hope to catch up on accessories for power tools or decoration," explains Erik Haegeman.Rather than finding an equation of higher margin sales and margins near zero, Brico Factory applies the same level of reasonable profit on its entire supply. It would be about 10%.

This "discount quality" Will it attractive enough for consumers to buy a card? Bricorama, which did not sign up now at low prices, at least fills a void. If the test proves successful DIY Plant, the least profitable Bricorama could pass under the new brand.

Apr 22 2010

TPE: Woerth opens the door for unions

Tag: economic, life, money, publications, top newsadmin @ 8:56 am

Eric Woerth held on time. Like its predecessor Xavier Darcos promised, the new Minister of Labour sent Wednesday afternoon the bill on social dialogue in very small businesses to members of the National Commission of the collective agreement and the Higher Council The probity. This text, which must still be approved by the State Council before being presented May 12 in the Cabinet, sets the conditions for measuring the hearing of unions in companies with fewer than 10 employees, a necessary condition for the law of 20 August 2008 laying down the new criteria for union representativeness is not considered unconstitutional for excluding more than 4 million workers in any election.

'We relied on the letter of the UPA and four trade unions, it says the Ministry of Labour.A letter dated end of January, setting the broad outlines of a trade union representation in the territorial commissions after elections in the TPE.

This bill deals with "three great subjects." First, it imposes in firms with fewer than 10 employees on a consultation list at the regional level every four years from late 2012. "This consultation will be through the internet or by mail, confirm there in the entourage of Eric Woerth. And it will affect all employees of small, except those of Agriculture whose election results, chambers of agriculture will be taken into account.In other words, all employees of businesses with fewer than 10 people will vote on the union they feel able to represent them in the territorial commissions, not the names of candidates.

Deuzio, the establishment of joint regional chambers (and the designation of their representatives) is returned to negotiations or inter-branch branch. The mission of these committees? "Monitoring and enforcement of collective agreements," says Bill.

Thirdly, the government postponed by two years the date of the next industrial tribunal elections to be held no later than at the end of 2015 and not 2013."There are many elections in early 2014 and we also want to allow time to analyze the recommendations of the Richard report," justifies a collaborator Eric Woerth.

"This is not the priority"

The Richard report, to be unveiled in the coming days, should offer new ways of "designation" of judges prud'hommes. One of the tracks would be considered to remove the election to go through an appointment of counsel based on the weight of each union at national level.Delaying the election of two years and has the advantage of allowing adequate time for governments to measure the weight of each plant under the new criteria of representativeness (will not be representative as the plants that, nationally, have a hearing than 8%).

No doubt this bill will meet the four trade unions signed the letter of intent in December with UPA: CFDT, CGT, CFE-CGC and CFTC. And will be fought by the MEDEF and CGPME rating as "excellent" social dialogue in the current SOHO and do not see the usefulness of measuring the audience of trade unions in the TPE.

"This is not the priority," has consistently indicated Laurence Parisot, the president of MEDEF, for several months.Leaves also ignored their signature in April 2008 when, in a common position on trade union representation endorsed with the CFDT and CGT, they referred the audience measurement in the TPE for future negotiations and the MEDEF the GGPME refused to open in December.

Apr 19 2010

The SEC would be interested in other banks

Tag: business, economy, people, resources, specialadmin @ 8:48 am

The Securities and Exchange Commission (SEC), which was Friday questioned the investment bank Goldman Sachs in a fraud case, is interested in other institutions that might have misled their investors about the nature of certain loans, according The Wall Street Journal. Several banks have had the same path as Goldman Sachs, creating financial products that allow for strategic customers such as hedge funds bet on the collapse of property prices at the same time where others were betting on further increases.The Deutsche Bank, UBS, Merrill Lynch or today came under the leadership of Bank of America, and could also interest Constable of U.S. financial markets, according to information from the Wall Street Journal.

For its part, the New York Times estimated that the case Goldman Sachs also shows the great return of the SEC at the front of the stage, while the institution had remained in the shadows in recent years.


Goldman Sachs met with a barrage of criticism

Goldman Sachs sued for fraud

A "golden boy" among many other French

Apr 17 2010

Sequestration of Essex: the conflict escalates

Tag: events, features, international, online, publicationsadmin @ 12:56 pm

The conflict seems to be hardening in Macon, where two officers of the Essex plant have been detained on Wednesday night. The European management of the company, a subsidiary of American Superior Essex, on Friday before the High Court of Macon, hoping to secure the evacuation of the site by force.

The 80 employees of the manufacturing of copper wire, whose closure was announced in late March, dispute the amount considered "deficient" in their social redundancy. In particular, they require a tripling of the amount of the premium extra-legally granted to each employee, to 120,000 euros each instead of the 30,000 proposed by management.

"No mediation of the state under threat"

While the hope of ending the crisis seemed to prevail among employees Friday morning, the tension is suddenly rise a notch after a mediation meeting with the director of the labor and employment cash advance america. The employees were entrenched inside the plant, shutting the gate using metal buckets. The group's decision to take legal action did not come a relaxed atmosphere.

The Industry Minister Christian Estrosi said he was "deeply shocked by the behavior of a small minority of employees, reaffirming that no mediation of the state in this case was possible under threat.A statement that the employees were immediately countered that it was "more ready to condemn employees and their representatives to address the issue of concern which have been seized since November 2009."

The court is expected to decide Friday afternoon on the outcome of the appeal filed by the direction of Essex.

Apr 16 2010

Wall Street took a breather

Tag: money, online, opinions, special, top newsadmin @ 8:08 pm

The U.S. stock market opened on a note undecided on Friday, after aligning Thursday for a sixth straight session of gains, led by the industry.

The Dow Jones opens up 0.19% at 11,145 points after six consecutive sessions of progression and a new peak not reached in a year and a half.

The Nasdaq resumed its souflle: it fell by 0.41% in early trade to 2506 points, but preserves the 2,500 points. And the S & P 500 lost 0.3%, ?1.208 points. The milestone of 1200 points is preserved. Yesterday, the Nasdaq finished at the highest level since June 5, 2008, the S & P 500 since September 26 of that year.

Consolidation is expected.The motion correction has been faster because of Dox Jones, who went into the red, a few minutes after the gong: he lost to 15H35, 0.12%, to 11,132 points.

New homes expected

On the foreign exchange market, the euro continued its decline against the dollar, penalized by renewed concerns about the ability of Greece to cope with its budget crisis and when Athens began to initiate procedures to activate the Plan aid from Europe and the IMF. In the morning, the European currency was worth 1.3527 dollars against 1.3574 dollars the previous day.

Today on Wall Street, investors will monitor the numbers of starts of new housing in March and the index of consumer sentiment in the United States.

A new series of major publication is also expected on the side of U.S. companies.Bank of America (-1%) and Mattel will unveil figures of their first quarter, while General Electric will issue its second quarter of those displaced.

Google view

Google announced Thursday after the close of U.S. markets have performed over the first three months of the year a net profit of 1.96 billion dollars, 6.06 dollars per share, against $ 1.42 billion (U.S. $ 4.49 per share) over the same period last year. In the first three months of the year its sales climbed 23%. The titles, however, slip 4.7% to 567.39 dollars.

In addition, the Financial Times, real estate investment fund Whitehall Street International managed by U.S. bank Goldman Sachs has lost almost all its value, or 1.8 billion dollars (1.3 billion euros) .On Wednesday, the Wall Street Journal revealed that another major U.S. bank Morgan Stanley had lost 5.4 billion dollars (3.95 billion euros) in investment properties, including the headquarters of the European Central Bank Germany.

Always on the side of values, yesterday, UPS, considered a good barometer of economic activity in the United States, announced a sharp rise in profits.

Apr 13 2010

Wall Street resumes in plenary

Tag: events, life, news, opinions, publicationsadmin @ 11:08 pm

The U.S. stock markets have recently experienced six consecutive weeks of increases, and a record level since September 2008, continues its momentum. The Dow Jones opened down 0.07% and the Nasdaq 100 0.11%, but the disappointment of Alcoa's results did not last. The eyes are now riveted on the release of Intel's after-hours trade, which will sign a series of results from technology stocks.

On Monday, the Dow Jones gleaned 0.08% to increase the threshold highly symbolic 11 000 points for the first time since September 2008.

On the foreign exchange market, the euro continues to strengthen against the dollar, after surging the day before with the announcement of details of the rescue plan for Greece.In early afternoon, the European currency was worth 1.3614 dollars against 1.3585 dollars in morning.

Oil continued to fall

Side oil, black gold connects its fifth session of declines, traders are concerned about the continuing rise in oil stocks in the United States.

On the New York Mercantile Exchange (Nymex), a barrel of light sweet crude for May delivery finished at 84.05 dollars, down 29 cents from the previous day.The courses, which had exceeded $ 87 last Tuesday in New York for the first time in a year and a half, have lost about three dollars in five sessions.

The U.S. Department of Energy shall broadcast Wednesday's weekly statistics on trends in U.S. oil reserves, and analysts expect the announcement of an eleventh consecutive week of increase in crude inventories.

Palm loses ground after a flight

The week will also be crucial for the U.S. markets with the opening ball of the quarterly results. As usual, the aluminum giant Alcoa (-1.92% to 14.29 dollars) which gave the start of the season publications, Monday after the market closes. The U.S. producer of aluminum remained in the red in the first quarter, however, divided more than double its loss a year.Alcoa recorded a net loss after minority interests of 201 million over the first three months of the year, against a deficit of $ 497 million a year earlier.

Today, the computer chip manufacturer Intel (0.50% to 22.65 dollars) will follow. The next week will be hosted by Google's quarterly results (0.83% to 577.31 dollars), General Electric (0.91% to 18.88 dollars) or JPMorgan Chase & Co (0, 27% to 46.26 dollars).

Always on the side of values, yesterday, the U.S. oil group ConocoPhillips (0.02% to 55.97 U.S. dollars) has announced the sale of its Chinese Sinopec stake in Canadian oil sands project Syncrude for $ 4.65 billion dollars (3.42 billion euros).This is one of the largest investments ever made by China in North America.

The manufacturer of PDAs and mobile phones Palm (-13.08% to 5.25 dollars), would seek a buyer. Bloomberg said the investment bank Goldman Sachs and Qatalyst Partners were commissioned to find a buyer to the manufacturer of smartphones in serious financial trouble. Action Palm and jumped over 17% Monday to the New York Stock Exchange.

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