International Headlines and Stories

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Summit a few hours of the opening of the summit of finance ministers of the 20 richest countries on earth – Friday and Saturday in Paris – the negotiations are intensifying behind the scenes. Berlin has made several gestures of good will on Wednesday, indicating the voice of a senior official of the Ministry of Finance argued that Germany "active efforts of the French presidency." The change is noticeable on one of the flagship projects of Paris, which would result, by Saturday evening, a common definition of economic indicators to be shared within the G20.Last November, in Seoul, the U.S. Treasury Secretary Tim Geithner, had struck the Germans and the Chinese hostile to his proposal to limit to 4% deficit or surplus in the current account.

"Do not stigmatize the poor performers

Berlin now seems more open to this question, suggesting that an agreement could take place during the weekend. According to German government sources, the G20 countries have compiled a list of five indicators to measure imbalances: the current account balance, real exchange rates, budget deficits and debt, foreign reserves and rates of private savings. "It is likely that the ministers approved" list of indicators of economic performance, thermometer, the source said. Berlin considers that these indicators will be "to enjoy in their entirety, and in association with each other.However, Germany remains opposed to what the G20 sets quantitative targets specific to each country. Paris did not intend at first. "Fall first agree on the indicators, then it will be great to spend time each country to the screen, taking care not to stigmatize the poor performers," says Christine Lagarde, French Minister of Economy.

The United States, for now, are more reserved. "It was expected that during the first half of 2011, the IMF identifies those indicators. Then, during the following months, as we proceed to evaluate them … We should, in Paris, have an additional discussion on this topic at the technical level. But there will be no agreement so early in the year, "says one Washington.Tim Geithner should show booked, also on the question of regulation of commodity markets, the second major project led by France. "We are in ac cord to strengthen market mechanisms, but not to supplant the market," says one Treasury recalling that in the Dodd-Frank legislation on financial regulation (adopted last year) are already provisions helping regulators to ensure that markets are not manipulated.

On this question, France will find Brazil on its way. "Brazil is totally opposed to the mechanism of control or regulate the prices of commodities," said Finance Minister Guido Mantega during a press conference.He warned that even these measures could "adversely" by curbing supply.

Latest issue of potential conflict, the issue of currency, although it seems less sensitive that a few weeks. "Since the announcement by China of a gradual adjustment of the parity of the yuan, we see a bilateral real appreciation against the dollar at an annual rate equivalent to 10% … So yes, there is progress, but the Chinese currency is always underestimated, "admits one American side.

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Again, EDF should not reassure investors. In fiscal 2010, net income Electrician tricolor plunged 73.9% to 1.02 billion euros against more than 3 billion expected by analysts on average. Involved a heavy load and a provision for change in scope, which complicates the interpretation of results.

The group's profits have been sealed by a special charge of nearly $ 2.9 billion, including $ 1 billion in the United States and 915 million in Italy. EDF owns half of Constellation Energy's nuclear activities the United States and half of Edison in Italy. The provisions made in 2010 also cover the additional costs incurred by following the extension EDF in France transitory regulated tariff for market adjustment (Tartam), a specific tariff for businesses. Thus, excluding items, earnings would have the group rose 11.3% to 3.96 billion euros.

The annual operating results are thus more in line with expectations. EBITDA, the EBITDA, rose 4.4% to 16.62 billion euros, above the 16.45 million euros expected by analysts and objectives of the group was a Organic growth in EBITDA, of between 3 and 5% in 2010. Turnover is also in line with estimates to 65.16 billion euros where experts had forecast 64.98 billion euros.

Scope change

And, come under the group's financial situation has been improved. The debt was reduced by 42.5 billion end-2009 to 34.4 billion euro late 2010, encouraged by the change in scope.In fact, as highlighted in the CEO of EDF Proglio "2010 was the year of major projects, which enabled the group to find a healthier financial situation" before discussing the three "major operations" of the year . EDF sold its electricity distribution networks in the UK consortium of Hong Kong Cheung Kong and sold to the regional state of Baden-Württemberg (south-west Germany) from 45.01% stake in number three German energy EnBW. Finally, the public group has decided to allocate 50% stake in its subsidiary RTE portfolio of financing the decommissioning of nuclear plants.

Confidence for 2011

Management is confident and shows for the current year. The electrician is for 2011 organic growth of its Ebitda of between 4 and 6%. However, targets rely on a price of nuclear 42 euros / MWh in the framework of the law Nome.

The group also expressed its intention to propose a device to pay a bonus dividend to shareholders holding their shares for at least two years.

Faced with these conflicting signals, it remains to be the market reaction so that the title EDF posted the worst performance of the CAC 40 in 2010 with a decline of over 20% of its title.

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Deprived of power in Egypt, Hosni Mubarak could soon be as his property. Barely half an hour after the announcement of the resignation of the Pharaoh, or at 17:30 on Friday, the Swiss government announced it was blocking all funds that may belong to the Egyptian president and his family in Switzerland. The Federal Council has issued an order to that effect asking the Swiss banks to search for and freeze the assets of the clan Mubarak. According to the Swiss National Bank in late 2009, the Egyptian deposits on accounts in Switzerland reached 3.6 billion Swiss francs (2.27 billion euros).

"President Hosni Mubarak has resigned today after weeks of mass protests. The Federal Council took note of this evolving situation, "it said in the text.The assets of Mubarak and his entourage were blocked with "immediate effect" and the order is "valid for three years," says the Federal Council. "In addition, the sale and disposal of assets – including property – belonging to such persons are prohibited. The Federal Council intends to take all necessary measures to prevent any possible misuse of public funds. "

London wants action "concerted"

For its part, the British Minister of Trade, Vince Cable, said Sunday that any assets held abroad by Egyptian President should be a "concerted international action." "I did not know he had huge assets here, but we have no doubt that there is an international action on this issue," he told the BBC1 channel, in response to a question about the possible presence of some of these assets in the United Kingdom, raised by the local press."It makes no sense for a government to act alone, but we must look into the matter payday loan. It also depends on how these assets were acquired, "added the minister.

Vince Cable has also warned that British banks the government would take action against any institution that would help the former Egyptian president to transfer funds. "One of the tasks which the Government has been working since coming to power is to terminate the operations of tax evasion on behalf of their clients, companies or individuals," he argues.

Between 40 and 70 billion

According to experts cited in the Middle East by the British newspaper Guardian, the Mubarak family fortune is estimated at between 40 and 70 billion dollars (29.5 and 51.7 billion euros).It would be divided as such: $ 15 billion for Hosni Mubarak, one billion to his wife Suzanne, eight billion for his eldest son, Alaa, and 17 billion for his second son, Gamal. By comparison, the couple's Ben Ali is estimated at five billion dollars, as ranked by Forbes magazine. And that of the richest man in the United States, Bill Gates, to 54 billion.

The Algerian newspaper Al Khabarprécise his side much of the wealth of Mubarak would be deposited in banks or invested in real estate. The Mubarak family would own and outside of Egypt, properties in the United States, Great Britain (whose son and mother hold the nationality), France, Switzerland, Germany, Spain and Dubai .Finally, two son, Gamal and Alaa created and taken stakes in many companies in Europe and the United States.

(With agencies)

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Paris Has it been too sure of his strength? There is just one more year, the possibility of relocation was seen as a joke by the City Council. At the point of not meeting the requirements of the French Tennis Federation, eager to expand the site of Roland Garros in order to accommodate the public, partners and media in better conditions, and to demand a fee from astronomical 2016 (the current lease expires in 2015). "There is a Roland Garros. There is no other. It will be more if it leaves Roland Garros Paris. The love story between Roland Garros and tennis is necessarily the Porte d'Auteuil, on the current site (…) I'm really a city tour to the suburbs but frankly what belongs to Paris is Paris.Roland Garros as the Eiffel Tower is part of Paris, has just recently told Jean Vuillermoz, Deputy Mayor of Paris, in charge of sport in a whiff of superiority. Faced with this situation, the TFF has decided to react by putting Paris in competition.

A hotly contested competition
A bluff? Initially judged as such, the call for entries is taken very seriously. Three suburban sites are then selected to host Roland Garros: Versailles, Marne-la-Vallée and Gonesse. The quality of records that are pushing the proposed FFT to seriously consider a move. "Attitudes have indeed changed," admitted the director Roland Garros Gilbert Ysern, whom we asked last November.Under pressure, the Mayor of Paris reacts through Bertrand Delanoe, who tabled a "vow on the development of the Tournament of Roland Garros in Paris" fulfilling all the wishes of the original Federation. Extending the area of 60% (5 hectares), covering the Central, the construction of a new 5,000-seat stadium, a new concession for a period of 99 years and a charge down the figure indexed business.

An eminently strategic
By choosing to stay in Paris, the FFT would be the choice of conservatism. A choice of heart more than reason? So says Hervé Dupont, executive director of the Plaine de France, holder of record of Gonesse."Either the Federation made the strategic choice to remain in Paris for convenience, for fear of change, because it costs him a little cheaper … Either it moves and in this case we believe we have the best project." Leaving the historic site Auteuil would especially at Roland Garros to catch up and even take the lead, on the other Grand Slam tournaments (Wimbledon, U.S. Open and Australian Open) in terms of area (over 30 hectares). Pragmatic, Guy Forget is rather favorable to offshoring.

An opinion that disagrees obviously not John Vuillermoz: "Is that what is important is the space, the number of acres? Does the importance of this tournament is not elsewhere? The goal is to get better. There will be an opening to a new space, a new short 5,000 seats. A lawn will replace the short No. 1, which is not beautiful.This will allow spectators to picnic before a large screen that will broadcast all the matches. This is what will stay at Roland Garros in its box, while remaining accessible to the greatest number. This is not just about square meters. "

Dissension
Unlike Gonesse and Marne-la-Vallee, where the political will to welcome Roland Garros is unanimous, the case of Paris, like that of Versailles, is facing some dissension. "We are a democracy, everyone can express themselves. You say there is no opposition would not be true.Now, democracy is majority and in this context, the Paris council has spoken: 12 councilors voted against and 141 voted for! After the Greens, who voted against the Olympic Games in Paris, which are against the top-level sport in Paris and that the residents of the Porte d'Auteuil want to stay together and not to involve the mass is their problem … But the great mass of the Parisians is favorable. All the polls show, "says Jean Vuillermoz, reminding us that Paris can count on support from the weight, partners and sponsors.

Sponsor support historical
BNP Paribas, whose brand is associated with at Roland Garros for 37 years, is actually very clear about this: "We support the continuation of the tournament in the capital. We believe that much of the prestige is that it is in central Paris.Whatever the qualities of offshoring projects, they would not have the same influence. "Same story from Alain Afflelou:" Roland Garros is a prestigious tournament that counts a lot in terms of public relations device. Currently, it is easy to reach, it will be more complicated than 35 km … "Favorite, File Paris nonetheless threatened. Not sure he collects 66% of votes of the 195 voters of the Federation for its victory on Sunday. He could well find themselves with ballot Versailles (the most dangerous rival?). The two finalists then the tie would be within three months, an absolute majority, at a new General Assembly …

The Paris plan:

With over 100 million viewers, the broadcast of the Superbowl is an unmissable for major U.S. advertisers. Coca-Cola to General Motors through Disney and Budweiser, they rush to buy advertising space to compete for gold and creativity, hoping to generate much buzz on the Internet. The price of 30-second spot has still set a record this year, reaching $ 3 million (against $ 2.8 million last year). And Fox had passed all the inventory at the end of October.

But a surprise guest has to advertise the festival. The site group purchasing Groupon took advantage of the withdrawal of an advertiser for advertising space at the last minute during the encounter.

"50 million subscribers"

This is a new coup for the site created two years ago, after the rejection in December of a bid by Google for $ 6 billion. "After two years of activity and 50 million subscribers to date, we believe it is time to use television to reach a wider audience yet," justified Rob Solomon, director of operations Groupon in a statement cash till payday advance.

The investment is significant for Groupon, who was unable to secure the place in advertising before and after the game, but timely. Indeed, the site has seen many competitors come and they begin to close the gap. This is particularly true of Living Social, who recently received an investment of $ 175 million of commercial site amazon.com and bought advertising space before the broadcast of the Superbowl.

Dissemination of an advertisement during the Superbowl, the most watched event in U.S. television, and promises to give a major boost to the reputation of Groupon. This is especially important that the company is already preparing its IPO and could intervene in the spring, according to U.S. media.

The U.S. stock market opened slightly lower on Wednesday. The Dow Jones lost 0.11% and the Nasdaq was down 0.23%. Tuesday for the first time since June 2008, the U.S. index has crossed, close Tuesday, the 12,000 points mark, despite the continued unrest in Egypt.

On the foreign exchange market, the euro retreated against the dollar on Wednesday afternoon. To 16 hours in Paris, the euro bought 1.3804 dollars against 1.3831 dollars late Tuesday.

The better than expected U.S. employment in January

On the macroeconomic front, several indicators were expected in the United States. Job creation in the U.S. private sector were higher than expected in January, according to results of the monthly ADP released Wednesday. In total, 187,000 jobs were created during the first month of the year versus the consensus of 29 analysts polled by Reuters had forecast about 145,000.Moreover, the December figures were revised down to 247,000 against 297,000 originally announced.

Late afternoon, the markets will react to stock weekly U.S. crude oil.

Sanofi-Aventis year close to agreement with Genzyme

Genzyme: -0.20% to 73.43 dollars

The side of values, the merger between Sanofi-Aventis and Genzyme has taken another step forward. On Monday, the two sides reached an agreement in principle on the structure of a rapprochement. And Tuesday, a source familiar with the matter said that Sanofi-Aventis would have fallen for that, its offer to just over $ 70 off certificate of conditional value (CCV).

GlaxoSmithKline: -1.47% to 36.84 dollars

In the same area, the British group GlaxoSmithKline (GSK) announced Wednesday it sold $ 1.7 billion, all of its shares in the American medical diagnostic tests and Quest Diagnostics.

Electronic Arts: 15.16% to 17.99 dollars

Always on the side of values, after closing the American publisher of video games Electronic Arts has quadrupled its net loss during the third quarter of fiscal shifted, to 322 million, exceeding expectations, however. Indeed, excluding special items and reported the number of shares, this amounts to 59 cents beyond the 57 cents expected by analysts. The turnover amounted to participate in its $ 1 payday loan lenders.41 billion, slightly below expectations, and an increase of 4.75%.In addition, the group announced a share buyback of 600 million over 18 months, "a first for many years," says an analyst.

Western Union: 1.03% to 20.50 dollars

For his part, Western Union has reported for the fourth quarter earnings per share of $ 0.38, $ 0.35 cons expected by the market and $ 0.32 last year.

Aflac: -2.27% to 57.20 dollars

Aflac announced for the fourth quarter earnings per share of $ 1.33, $ 1.35 cons expected by the market and $ 1.18 last year.

Broadcom: -7.37% to 42.97 dollars

Also after market, Broadcom has released the fourth quarter 2010 revenues of $ 1.95 billion, in line with expectations against $ 1.34 billion a year earlier. The adjusted earnings per share rose to $ 0.58 against $ 0.32 last year.For the current quarter, the company targets a turnover of between 1.75 and 1.85 billion dollars against 1.46 billion last year.

Ford: -0.31% to 15.84 dollars

The rating agency Standard and Poor's (SP) announced that it raised its rating of U.S. automaker Ford BB-B + cons, together with a positive outlook, citing continuing economic recovery in the United States.

Google: -0.24% to 609.59 dollars

World number one search engine on the internet Google has accused his rival, the Bing website, copy the results it offers users what the computer group Microsoft has formally denied.

Also note, major banks and brokerages on Wall Street have made their employees pay record under past year, two years after the great crisis that devastated the area, according to the Wall Street Journal . The 25 largest institutions have paid their employees an unprecedented $ 135 billion dollars in salary and variable compensation. This amount is 5.6% higher than that paid for 2009.

JP Morgan Chase lost 0.52% to 45.59 dollars, Goldman Sachs was down 0.26% to 164.90 dollars and Bank of America ahead of 0.70% to 14.21 dollars, while Citigroup gained 0.35 % to 350.85 dollars.

Today, Wall Street investors expect another round of results. Indeed, Mattel, Time Warner and News Corp. will announce on Wednesday its fourth quarter 2010.

After three consecutive weeks, the CAC 40, which closed last Friday above the 4000 points (4017.45 points exactly), continues to move at the opening with a gain of 0.3% to 4028 points.

Earlier this morning, Asian stock markets have shown tentative and U.S. markets had scattered them over in orde Friday night.

On Monday, President Nicolas Sarkozy at the Elysee gives the kickoff of a year 2011 marked under the seal of the international retailer, to reporters and foreign ambassadors in Paris (live TV on Facebook and Dailymotion), his goals for the G8 summit in late May at Deauville and the G20 early November in Cannes.

Markit index at 9 am to follow

To wait for that day at business publications include the quarterly business survey by INSEE in the industry, the month of January at 8:45, then 9:00, the PMI Flash (Markit) fall before to know the composite index of purchasing managers (PMI) in the euro area (10 hours) and new orders in industry in November 2010 (11:00), always in the eurozone.

At noon, back in France: the quarterly surveys of conditions in the building trades and real estate development in the first month of the year will be unveiled.

This afternoon, Fevad present stock of French e-commerce in 2010, with opening remarks by Eric Besson, Minister for Industry, Energy and the Digital Economy.

Renault out of the wood

As for values, ArcelorMittalsigne the largest increase of the leaderboard with a gain of 2.9%. Steelmakers produced 1.4 billion tons of steel in 2010 (+15%). Growth welcomed but fears of overcapacity in 2011.

Renault (+0.7%) had evidence of "multiple" on the case of industrial espionage which are believed to three frames of the group, said Sunday the group's CEO, Carlos Ghosn payday loans. Earlier in the day, counsel for one of three executives covered by the suspicions had called Renault CEO Carlos Ghosn to provide proof of charges that founded the lawsuit from the manufacturer.

Automotive side, Toyota is the world leader in 2010, despite several points vehicle recalls.

Danoneest in small increase of 0.1%. According to La Tribune, Danone Dumex interested in India, a manufacturer of baby foods.A nugget in its sector: Dumex is number one in China and India.

The side of falling, Sanofi-Aventis is down slightly after the announcement on Monday duprolongement its takeover offer for Genzyme, always the same price of $ 69 per share or $ 18.5 billion in total, until February 15. "While these discussions have continued and have included sales teams and executives from both Sanofi-Aventis and Genzyme, significant differences remain regarding the CVC (certificate of conditional value) and the potential value of the offer Sanofi-Aventis, and there is no guarantee that parties will reach agreement, however, warns Sanofi.

Orange (France Telecom) also declined slightly by 0.1%. The operator has negotiated the acquisition of part of investors to share the platform for sharing videos Dailymotion, valued at approximately EUR 150 million.

Note also that Nicolas Sarkozy will announce on Tuesday a call for projects on five coastal sites for an investment of 10 billion euros. French and foreign manufacturers are mobilized for this competition.

Eurocopter will deliver its key figures for 2010 and its outlook for 2011 from 10.30. Sodexo holds its general meeting at 16.30.

In the corporate world, the third way is very popular. The number of ruptures conventional employment contract, which is the third opportunity to end collaboration between an employee and his employer, the dismissal and resignation, continues to grow. Between January and November last year, 230,000 amicable separation by mutual agreement between the employee and the employee has been granted, reports Les Echos, against 190,000 in 2009.

Since the inception of this scheme in January 2008 nearly 455,000 were authorized protocols. The bar's half-million of this type of separation could be achieved by the end of January, the newspaper said.

Fewer refusals

The success of this new protocol is also because governments refuse to fewer protocols.The refusal rate reached 7% in November 2010 against 11% a year earlier and 21% in August 2008, when the first signature of conventional rupture. Moreover, the number of appeals before the Labour Court is very low.

But two risks remain. These devices could be used as substitutes for redundancies, the number of social plans is declining. Furthermore, this device could be used as a protocol for early retirement in disguise. In addition, the success of these devices could affect the unemployment insurance account.

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China comes to the aid of the euro. She is preparing to buy 4 to 5 billion euros of debt Portuguese State, the daily Jornal de Negocios Lusitanian. Beijing will be committed to carry out these purchases during the first half of 2011, says the newspaper, without citing sources.

Such an operation would contribute significantly to lower interest rates on debt Portuguese in Lisbon and would continue to finance its debt normally. The European Central Bank (ECB) is currently the strategy of debt repurchase in peripheral countries (Greece, Portugal, Ireland) to prevent a surge in market rates.

The information in the Jornal de Negocios comes in the wake of statements of support from Beijing. Vice-Premier Wang Qishan said China was ready to support the extraordinary measures for countries in trouble like Greece or Portugal."It is in the fundamental interests of China and the EU to further strengthen their cooperation," said Deputy Prime Minister.

Promises to Greece

China has already come to the aid of Europe's sick of his debts in recent months. According to market observers, it would have bought two months ago the Spanish government bonds for a hundred million. She also pledged to buy bonds when Athens Greek return on the market to raise funds. Finally, she assured Portugal that his support during a visit last month. Without specifying whether she intended to buy Treasury securities Portuguese.

"Beijing expresses support to the European Union and from the moment she made a gesture, it reinforces market confidence, regardless of the amount invested," analyst Xu Bei, an economist at Natixis overnight pay day loans. China has the means.It must put in huge trade surpluses, accumulating at a rate of some 10 billion dollars (7.6 billion euros) per month. It places the majority of these funds in dollars, the United States, but seeks to diversify its portfolio. Today, between 20% and 30% is invested in euros, according to Xu Bei.

"Winning margin trading"

"When China buys bonds from the Greek State, she knows she can lose money, but it's less distracting than other investors: it knows it would save him at the same time trading margins as creditor, "Yves Bonzon analysis, investment manager at Pictet.

Help Europe, but also for China to help his main client. The EU is the leading destination for Chinese exports and the second trade partner after the United States.

To help the ailing European states, China is also investing directly in their economies. Highly publicized decision, Beijing has injected 3.4 billion euros in the port of Piraeus in 2008. Chinese direct investment surged 280% in 2009. But they still represent an average of only 3.35 billion dollars a year, a total of 50 billion invested abroad. China is not still buy in Europe.

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