International Headlines and Stories

The honor is safe: Microsoft earns more money Apple. Some were considering a transfer of power between the two giants of American computer but the Apple brand will be a little patient. Of course, Apple is now more expensive than its rival in stock: 235 billion against $ 226 billion for Microsoft. However the latter has finally achieved the title of his fourth-quarter profit of 4.518 billion dollars or 51 cents per share, well above the 46 cents expected by analysts. Apple's side recorded during its third quarter profit of 3.25 billion for a turnover of 15.70 billion savings account payday loans.

In its statement, Microsoft said it has achieved a turnover for the period April to June of 16.04 billion dollars, up 22% thanks to higher sales in all activities. This is a "record"

Over the year, net income appears to 18.760 billion dollars, up 29% and the turnover of 62.484 billion dollars, up 7%.

The group Redmond has definitively turned the page on last year, which had marked the first decline in its business since its inception.

For the ninth year, Paris is transformed into a seaside resort in summer time. Paris Plages opens Tuesday and runs until August 20. Eight weeks in which Parisians can enjoy sandy beaches, a water sports center, sports and cultural events all audiences. But this year, no major new features only on the Paris agenda Beaches. As in 2009, solidarity is the main theme of the event.

The Paris city council, which organized the operation every summer since 2002, has in fact faced with a limited budget for this year 2010: 2.2 million euros (about $ 1 million from the partners), against 2.5 million 2009. A reduction of 300,000 euros. The time savings, and Paris Plages is no exception.

Witness the profusion of the sponsors of the operation."Our partners are also affected by the crisis," says one to the City of Paris. "Some can no longer support such partnerships. Others simply want to change backgrounds. "Thus Dailymonop, which is part of the adventure for eight years, this association has not renewed this year. Orange and EDF are no longer either in the list of sponsors of the Paris demonstration.

The dance partners

The cement manufacturer Lafarge, it is still there. As every summer for eight years, the group sent last weekend of the 2000 tons of sand needed to achieve the beach on the quays Voie Georges Pompidou and the Bassin de la Villette free credit report and score. Delivery, "offered", which was carried by barge from the quarry Sandrancourt in the Yvelines.Other faithful among the faithful, Fnac is a partner unassailable. Beaches and Paris will host the 7th edition of the Festival FnacIndétendances. More than 30 free concerts on the square of the Hôtel de Ville in Paris.

The event in Paris has not lost its capital seduction. "Despite the crisis, several companies have joined in Paris Beaches for the first time this year," remarked Will there be the City Hall of Paris. It must be said that the event represents a great marketing opportunity. Thus Fatboy (a manufacturer of decorative cushions) and rely on the glacier Mÿberry Paris Beaches to highlight their products. The market teaches Franprix (Casino Group), meanwhile, relies on the event to strengthen its brand positioning proximity.

The promise of visibility

For the first time, the sign of the Casino Group is an official partner of Paris Plages.She co-hosted several times a day, a workshop smoothies for children. "This stand, fun and educational, aims to transport the children into the world of fruits and vegetables," says Jean-Paul Mochet, Director of Market Franprix. A visibility that is timely for the brand which has rolled out a new sales concept focusing on fresh and authentic.

Jean-Paul Mochet, Director of Market Franprix.

Prudence in the Paris Bourse. The legacy of bad news from U.S. and China are still present. The CAC 40 has opened up 0.36% to 3595 points. The Paris markets do not follow the same direction as their Asian counterparts. However, these concerns are offset by the recovery of the euro against the dollar, thanks to bond investments Greek, Spanish and Portuguese successful.On the currency markets, the euro is stable at 1.2917 dollars around 9:10.

On the macroeconomic front, the day will be charged again especially in the United States with the publication of inflation figures in June to 14.30, the net flows of capital invested in the long term April to 15 hours and the index Confidence University of Michigan in July at 15:55.

For the euro area, the trade figures for May will be announced at 11:00.

Values follow

On a visit to Tokyo, Prime Minister Francois Fillon said France was "open" to the entry of Japanese conglomerate Mitsubishi Heavy Industries in the capital of the nuclear group Areva.

Carrefour posted a quarterly revenue slightly exceeded expectations thanks to its positions in emerging countries and announced the signing of a new partnership in China.Over the period April to June, the group saw its turnover totaling 24.92 billion euros, up 6.3% over one year.

Seb has announced an increase in sales in the first half due mainly to a favorable currency impact and a good momentum of the emerging free credit score online. Its turnover grew by 13.1% at current exchange rates and 9.4% at constant exchange rates.

Lafarge has reached Friday the sale of 11.2% of its business in Malaysia for a net total of 141 million euros in the divestment program initiated by the world's largest cement. Following this, the group will remain the principal shareholder of LMCB with a 51% and will retain management of the business.

Axa Asia Pacific (AAP) and its parent, AXA and National Australia Bank (NAB) to discuss extending the period of exclusive negotiations between the two parties. NAB hopes to acquire 100% of PAA and has proposed that $ 11.5 billion (9.13 billion euros). The Australian Competition Authority has so far opposed the transaction.

Pierre & Vacances has warned that tourist bookings for the fourth quarter was marked by delay on the month of July, in the context of crisis, after essentially flat sales in the third quarter.

Stallergenes Thursday reviewed its annual targets upwards, after posting a 14% increase in turnover in the second quarter, owing mainly to increasing sales of its blockbuster drug, the Oralair.Specializing in the treatment of allergies, has achieved a turnover of 47.3 million euros in the quarter and $ 110.6 million over the period (13%).

One publication of turnover is expected this Friday: Etam Development.

In the battle over economic strategy, which raged in the country G8/G20 meeting in Toronto, Nicolas Sarkozy ranks clearly on the side of Barack Obama's hostile plans rigor precipitates. "For France, fiscal consolidation is a long-term need [...] the stimulus must be from 2011, progressively, according to individual circumstances," said one EU source.

Favorable cures severe austerity in Greece, Portugal and Spain, Nicolas Sarkozy calls for budget adjustments "progressive" in France and Germany, from 2011, with "not too many taxes."

The fragile economic and financial worries Europe G8 and G20. "Our partners Americans and Canadians fear the impact of austerity plans on resuming" said one EU source.The health of banks on the Old Continent is also a major concern in the United States. "There's nothing to fear from that quarter. Our banks are very strong. The results of stress test in late July is going to cheer the markets, "say the Europeans.

Faced with the Americans, Germans and Britons facing the G8 steadfast defenders of rigor. "A sustainable growth can not result from a fiscal policy based on the debt!" Repeats Angela Merkel. "Our public finances are in such a state, we have no other choice than a hard adjustment," he defends David Cameron.

Within this debate, Nicolas Sarkozy wants to distinguish itself from its European partners. Recognizing the need to reduce fiscal deficits in France, he will not rush, giving priority to pension reform.If markets were not so vigilant, he would gladly own the warning of Barack Obama: "do not overdo it in 2010 … or 2011.

European markets reorient downward on Thursday after two sessions of net withdrawal, which followed up to nine sessions in a row.

ACC 40, which closed late Wednesday a decline of 1.71%, to 3641 points, however, had started sitting up. He quickly plunged and yields 0.96% mid-term point to 3606.9.

The euro shows a decline of 0.28% at the same time and now rated as 1.23, to 1.2277 exactly. The European currency declines amid persistent fears about the state of the economy of the Old Continent.

In an interview with Italian newspaper La Repubblica, Jean-Claude Trichet, ECB president, said it was unlikely that deflation risks materialize in the euro area.

Employment on the radar screen

Supported by purchases of televisions before the World Cup soccer, the French household consumption of manufactured goods rose 0.7% in May after a drop the previous month, Insee said Thursday. Better than expected.

Job center will provide 18 hours tonight the numbers of jobseekers registered.

In the Eurozone industrial orders in April showed the strongest gain in 10 years: +0.9% over March and 22.1% compared to April 2009. This last figure is the highest since May 2000, according to statistics released Thursday by Eurostat.

In the U.S., at 14.30, the figures on durable goods orders in May are highly regarded, as usual. As the traditional weekly claims for unemployment benefits (same time).

Areva accrues $ 400 million more

The Group accrues 400 million euros more because of the further delay of the EPR. These delays have already cost the group 2.3 billion euros nuclear. And this new supply will cause the accounts into the red in the first half.

Vinci: -0.59% to 37.26 euros The company has signed an agreement for a proposed road tunnel in Vietnam, worth an estimated $ 600 million.

Publicis: -0.34% to 34.74 euros Interpublic does not need to merge with Publicis, according to its CEO, Michael Roth.The fourth group in terms of global advertising revenues has been speculation about a possible merger with French group.

L'Oreal: -1.81% to 81.82 euros, L'Oréal held yesterday, a presentation on New Markets, on their growth potential, based on affordable innovations, development of new product categories and the acceleration of globalization. Natixis Securities appreciated and raised price target on the value of 92-97 euros.

Societe Generale: -2.93% to 35.74 euros, the bank claimed Kerviel to 4.9 billion. This sum is claimed as damages, the commitments of the former alleged fraudulent trader.

Banking sector is doing well this Thursday after being bottom of the list of the CAC 40 over the past two sessions.The President of the European Central Bank, Jean-Claude Trichet said in an interview published Thursday that the reform of financial regulation are on track and that a number of important decisions will be taken in November, during G20.

Axa: + 0.07% to 13.55 Resolution eurosL'assureur UK announced Thursday the acquisition of its French rival Axa Life insurance, savings and pensions in the United Kingdom for up to 2.75 billion pounds (3.3 billion euros).

Vivendi: + 0.06% to 17.45 euros without, however, that the word "relax" is heard, the prosecution had asked for any penalty against former executives of Vivendi Universal. From the first day of the hearing, Jean-Marie Messier, former chief executive, expressed a mea culpa about its "excessive communication."

Casino: + 0.33% to 63.75 euros latest episode in the war of Nespresso.Nestle has obtained the high court in Paris to send bailiffs in Folliet and Vegeplast, the two suppliers to the manufacturer Casino pods compatible with Nespresso machines.

Air France-KLM: -2.73% to 10.87 euros 4,390 people have left the company without being licensed, by March 2013, according to an internal document quoted by La Tribune, on its website.

Company Alps: -4.28% to 23.02 euros Compagnie des Alpes announced Thursday the launch of a capital increase of around 100 million euros, with retention of preferential subscription.

The leisure group has also announced a refinancing of its debt in advance through long-term, secure the liquidity of the group for five years.He said in a position to make acquisitions.

TF1: -2.24% to 11.54 eurosL'élimination the first round of the France squad will deprive TF1 more than ten million euros in revenue. But the title TF1 has underperformed by 3.6% of all broadcasters in Europe since the beginning of the World Cup. This correction related to the elimination of the France team is disproportionate to the financial magnitudes of the event, said an analyst.

Oil drop

Crude prices have continued to drop Thursday (76.2 dollars) in electronic trading in Asia, driven by anxiety about U.S. demand, world's largest consumer.

The latest indicators of the U.S. Department of Energy showing an increase of two million barrels in crude stocks in the week concluded on June 18 have caused concern to investors, which projected a decline of one million barrels.The increase in crude inventories reported in effect a weakening demand.

The euro rose again on Monday morning against the dollar. It rated 10 hours to 1.2430 dollars, after touching 1.2460, an increase of 4.6% since it started bouncing on June 7 last, when the exchange rate euro / dollar rate was 1.19. A fast pace for the foreign exchange market.

China, usually accused by Western countries to maintain the exchange rate of its currency artificially low, just a surprise. A week before the G20 summit, the Chinese central bank announced the end of two years of indexing the yuan to the dollar. The aim is to gradually revalue its currency in order to regulate the Chinese economy, which is based on thirty years export.

To believe in technical analysis, "a great potential rebound comes." The first significant resistance (level on which the exchange rate risk of stumbling) is 1.27.Above, the parity would take the lead of 1.33. The trend is now positive short-term above 1.19.

Why such an increase?

The reason for this rebound is mainly technical: the euro has fallen too quickly in recent weeks, the currency had to breathe. Indeed, on 1 January, the euro was trading at $ 1.44, and in December 2009, it was worth even $ 1.51. In other words, between the highest and the lowest point reached in early June to 1.19, the euro has fallen more than 21%!

Other mechanical reason of the rise of the euro: the decline of the dollar which causes the exchange rate euro / dollar rising payday loan. But the greenback fell amid indices acclaimed. "Historically, there has always been an inverse relationship between the U.S. equity market and the greenback," said the chief executive of Saxo Bank, Pierre-Antoine Dusoulier.

And since the announcement of China, which paves the way for a separation of the link between the yuan and the dollar, the yuan prances its highest levels since July 2005. The renminbi, another name for the Chinese currency, reported a record on the interbank market at 6.8089 against the dollar. Faced with the rise of the yuan, the dollar fell back automatically.

The trend remains bearish background

In the medium term, despite five times the highest drop since last December, the trend is still fragile.Even if the single currency does not seem too responsive to European concerns on the health of public finances of countries – including Spain rumors, denied – the macroeconomic situation on the continent remains sluggish, between sluggish growth and unemployment Box, accompanied by rigid budgetary policies.

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Surprising as it may seem, the regions now pay the consequences of the reform of the pension system by SNCF, negotiated in 2007 by the government. In exchange for extending their period of contribution, the railroad has received various forms of compensation (new longevity step, time-saving account …) which, in total, cost 80 million per year from their business is up and running.

But part of that premium is now invoiced regions. These are in charge of regional express trains (TER). An activity inherently deficient, the ticket price only covers about one quarter of the charges. The regions "pay" for it so the station continues to operate these small lines. Specifically, the sign with the company elected public multi-year agreements, often over ten years, which regulate these funding issues.And it is anticipated that if, in the meantime, a law or a decree adopted at national level have an impact euro hard cash at the convention, the SNCF and the region shall, by agreement, review the financial conditions . The reform of the pension plan of the station into this framework.

In some regions, such as the Languedoc-Roussillon, the case has not yet been opened. But in others, the overhead of pensions has been included in escalation clauses when signing new contracts. Elected officials, who did not always detected these clauses are now discovering the pot to the roses. "In 2010, the bill for pensions for railroad workers is 3.3 million euros for Aquitaine," said Alain Rousset, President of PS and its Chairman of the Association of Regions of France (ARF). The magnitude is the same for Burgundy."The surcharge, which was 1 million in 2008 and 1.5 million in 2009, will reach 2 million in 2010 and 5 million per year thereafter," says Francois Patriat, Chairman PS Regional Council. The ARF has not yet calculated the total amount of the overcharge for the 22 regions. But there should be several tens of millions of euros.

Action against the State

In absolute terms, the regions where expenses exceed 26 billion could absorb this unexpected bill. Example of Burgundy, the region has an annual budget of 770 million and 200 million per year dedicated to B (50 million for the purchase of trains and 150 million of benefits). But the political context changes everything. The strained relations between local officials and the government. Nicolas Sarkozy has announced a freeze on grants paid by the state to local governments.

And since the reform of business tax, regional councils receive only the taxes they can not adjust the rate. The fact that the state refuses to compensate for the additional areas of pensions of railroad goes very badly. "This pension reform was imposed on us by the government. This would be the State to bear the consequences, "said Francois Patriat. Elected representatives decided to file an appeal before the tribunal to condemn the State. Franche-Comte has done the same. And considering the Aquitaine. "I have enough for the state to discard" protests Alain Rousset.

The success achieved by their counterparts in other departmental areas, protection of children, encourages regional representatives: general advice PS Saone-et-Loire and Seine-Saint-Denis have got the Council of State that the state is condemned for lack of funding.

It is also true that elected officials do not feel size now to renegotiate the terms with the offending station. "We are at an end of major negotiations between the government and the SNCF. The balance of power is not in our favor, "says Alain Rousset.

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"New standoff between state and local

Should win earlier this week, losing on Friday night. Having won respectively 23.89%, 18.65% and 20.90% on Monday, following the European Agreement on plan to help the euro area, the three biggest French banks were closed on of declines: Societe Generale, -8.63%, Credit Agricole, -6.43%, BNP Paribas, -7.41% … French banks weigh heavily on the Paris Bourse. The CAC 40 has closed Friday on a depressing note: at the close of the Paris Stock Exchange index lost 4.59% and Paris has fallen below the 3600 points to 3560 points.

His European counterparts also suffer, while banking stocks enroll the largest declines, everywhere.

This reflects the renewed concern about the economic health in Europe, barely a week after the European plan negotiated the titanic last weekend.Further evidence of the uncertainty room, the euro broke the 1.25 dollar, which had not happened for 14 months. Gold coast near 1,240 dollars per ounce. Unheard-of. And oil is under $ 74 a barrel.

Banks underperforming in Europe

In Italy, while the FTSE-Eb hollow losses and was down 5.26%, many bank stocks are at the bottom of the list: in order, Mediobanca, 4.50% to 6.15 euros Banco Popolare, 6.21% to 4.16 euros, UniCredit, 6.27% to 1.81 euros and Intesa Sanpaolo, Italy's leading bank, yield 5.11% to 2.18 euros.

In Spain, same old story. The Ibex 35 largest market capitalizations falters 6.64%, and banking sector heavyweights weigh box. Banco Santander, the second largest bank in Europe, falling 9.28% to 8.31 euros.BBVA folds of 7.58 euros to 8.78% and 6.46% of Bankinter at 4.7 euros.

The Dax in Frankfurt – the index of 30 companies the biggest German stock exchange down 3.12%. But again, it is Deutsche Bank, which is at the bottom, falling 4.15% to 48.75 euros. The boss, Josef Ackermann, questioned the ability of Greece to repay its debt. And Commerzbank sells 4.13% to 6.10 euros.

In Belgium, KBC retrograde 5.48% to 30.85 euros and Dexia 5.63% to 3.6 euros in a market down by 3.46% for the Bel 20. And in Switzerland, UBS depreciates 2.83% to 0.10 euros and the financial group CS Group lost 4.08% to 33.23 euros.

The bank still frontline

Fears of a state unable to feed its fiscal risk of lowering its rating by a rating agency.But what are the financial institutions in a country with the largest of government securities in the portfolio.

Generally, capital financial institutions required to hold an asset also depends on the "rating" (the note) of the issuer of this title. If it deteriorates, the capital required to hold a state title will be more important.

As banks are exposed to Treasury securities, profitability and solvency is lowered … hence the fall in stock.

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"France: Fitch reassuring banks

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.

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.

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