International Headlines and Stories

EADS, the European manufacturer announced in a news release its second quarter as a significant decline in profits. With effect from April to June, the result came back 208 million euros to 82 million. At the same time, the turnover was little changed at 11.35 billion (11.73 billion for the same period last year). Over the half, earnings were 185 million against 378 million in billings from 20.308 billion. Reduced to an action, the benefit is 0.23 cents (0.47 cents to end June 2009).

Despite the marked decrease in profits, the group has revised its targets upwards for the whole year. It now expects over 44 billion ors billings. The group also announced a production rate of the A320 increased to 40 per month.

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While the debate between plans and rigor stimulus facilitated the markets in recent weeks, the attention of analysts and investors will again be focused on the financial performance of companies from Monday. Indeed, the U.S. giant Alcoa aluminum ball will open the second quarter of publications in the U.S., after market.

If analysts have recently lowered their forecasts for the group in front of the lower aluminum prices, Alcoa will announce earnings for the second quarter, against a loss last year. The title Alcoa ended Friday at 10.94 dollars, up 2.05%. The volley of U.S. results will continue this week with the technology companies Google, Advanced Micro Devices or Intel, and banks JPMorgan and Bank of America. Citigroup and General Electric will unveil their findings Friday.

Renewed investor confidence

Pending these publications, it is time for optimism in the U.S.. The Dow Jones closed up about 0.57% Friday at 10,197.19 points while the Nasdaq advanced 0.97% to 2196.45 points. Among the good news that restored investor confidence late last week, the International Monetary Fund (IMF) raised its forecast for global growth for 2010 at 4.6% against 4.2% estimated in April.

Analysts polled by Reuters predict the results of the groups listed on the S & P 500 will emerge up 27% for the second quarter, more than the 22% increase posted during the first three months of the year. "We are seeing one of the occasions of the highest profits in history," said David S.Bianco, chief strategist for the United States at Bank of America Merrill Lynch, interviewed by The New York Times. According to him, he must go back to the Great Depression of the 30s to see such a rebound.

Markets should also respond well to the results to be published in Europe, where the decline of the euro against the dollar is favorable to businesses. "Like the U.S., figures released by the European companies will be rather positive," said Vincent Treulet, head of investment strategy at BNP Paribas AM. "The second quarter was dynamic on both sides of the Atlantic, compared to the second quarter of 2009." Figures released this week will quantify this improved profitability. And reassure the markets, accordingly.

The speeches of leaders scrutinized

In this context, however, uncertainty haunts the minds of economists. The expected rebound in profits he heralding an improvement on the employment front, at a time when companies continue to cut costs to improve their productivity? "We can expect that the outlook announced by the companies are more optimistic that the sentiments expressed by employees and households," said David S. Bianco.

Beyond the quantitative assessments of companies, are the speeches of leaders who will focus the attention of investors and dictate the trend on stock markets. And this, in the U.S. and Europe. Some experts expect however that these comments remain rather vague. Companies may place more emphasis on the lack of visibility."It could indeed disappoint the markets in the medium to long term," according to Vincent Treulet.

Analysts too optimistic?

Especially as the expert anticipates a slowdown in growth for the second half of 2010. In addition, many operators believe that analysts, encouraged by the good figures for the first quarter of 2010, advance estimates too high for 2011. "The consensus view that corporate profits would exceed the peak reached in 2007, which seems overly optimistic," says the strategist at BNP Paribas AM.

Businesses now report what scenario they anticipate. In France, the dance of publications of the second quarter and first half will open July 22, with STMicroelectronics. Some companies, however, reveal their sales figures this week, including L'Oreal on Monday after the close of trading Thursday and Carrefour.

In 2008, Apple became the first distributor of music in the United States, before the giant Wal-Mart and Amazon. The group of Cupertino is preparing to renew the feat in the film industry. According to research firm Screen Digest, Apple became the number one video on demand pay to the United States in 2014, before the two top cable operators in the country, Comcast and Time Warner Cable.

This will be overtaken by Apple at the end of this year. Apple is expected to generate $ 281 million in sales by selling movies online this year against 160 million in revenue for the VOD service from Time Warner Cable. The firm is expected to apple store almost 35 million transactions in 2010 against 30.5 million for the second U.S. cable operator. Still Number One, Comcast will make a turnover of 380 million dollars with 88 million transactions."While the pay-TV players offer to lease the works in DOS, Apple sells movies. The pricing is more beneficial to Apple, "said Dan Cryan, responsible Broadband Media at Screen Digest.

In 2014, the reverse hierarchy: Apple should be leading with 470 million dollars in revenue for 56 million transactions, when Comcast will reach 400 million dollars in sales with 108 million records of tenancy, says Screen Digest. At that time, Apple will control 32% of video market demand pay.

Google TV has a playing card

This leadership position gives Apple the opportunity to influence the price of selling movies for download, as the U.S. group has done in music.Another advantage is the unit sales reported more income to the beneficiaries that the subscription models or lease and therefore the iTunes Store a valuable partner for the studios, which multiply the simultaneous releases in theaters and on video.

If the model for the iTunes Store gives a good lead time to Apple in VOD, it is not certain that the firm with apple foreclosing the movie as it did for digital music. "There was an effect on iPod music because of the integration platform for downloading with the terminal was better, because the iPod allowed to make music where consumers want to have it ie mobility. It is not certain that the iPad plays that role for the film, Dan Cryan analysis. Terminals other than the PC are key to getting consumers to pay for entertainment.But for video, this advantage is less pronounced for the iPad for a TV. This is Google, with its Google TV decoder, which brings Web video into television, has a playing card. "Indeed, the Internet group has not discussed a possible blocking of illegal content which could online access through Google TV. This vagueness could benefit from piracy: "iTunes is selling on average 30 songs per iPod sold, the rest of the music is not purchased it is copied from CD or downloaded illegally. There could have the same effect on Google TV. The party has just begun in the video, "said Dan Cryan.

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A half percentage point. This may seem insignificant, but when it comes to U.S. growth, the news is important. Between the first and the last estimate of the U.S. Department of Commerce, the number of U.S. growth will have lost 0.5 points from 3.2% in the first estimate in April to 2.7% for the third and final version broadcast Friday.

This reflects "an upward revision to imports and a downward revision to consumer spending," says the Department of Commerce. A phenomenon only partly offset by "an upward revision of exports and changes in business inventories."

"It's disappointing," Judge Inna Mufteeva, economist at Natixis U.S.."Consumer spending was revised down from 3.5% to 3% payday loan online. Shortly reassuring, while half of this increase can be attributed to the plan of Barack Obama, according to Natixis. The fact that fiscal stimulus should deflate during the second half of the year.

Also somewhat reassuring, the growth was largely supported (1.9 to 2.7%) by a motor very tentative: the recovery of businesses. Explanation: During the crisis, American companies have used their stocks. Until no longer have anything in their warehouses. In recent months, they have therefore produced and placed an order to replenish their stocks, thereby amplifying the rebound in growth. Good news is that the investment factor for structural growth, jumped 11% in the first quarter of 2010.

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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The European Central Bank (ECB) has revised upwards on Thursday the euro zone growth for 2010, but reduced its estimates for 2011. This year, says the guardian of the euro, growth should be between 0.7% and 1.3%, against 0.4% and 1.2% previously. Exports should benefit the business area, "said ECB president Jean-Claude Trichet.

In contrast, growth should be adversely affected by weaker domestic demand in 2011 than originally planned. The ECB now expects growth understood in a very wide range from 0.2% to 2.2%, against 0.5% to 2.5% previously estimated. Probably the negative effect of harsh announced plans in recent days, including Germany and Spain.In this context, inflation is likely to remain "moderate", said Jean-Claude Trichet.

"We believe that the euro zone economy would grow at a moderate pace in an environment (…) unusually high uncertainty", said Jean-Claude Trichet. "The uncertainty and the level of growth is not writing, it also depends on us", European institutions and governments, stressed the central banker faxless pay day loans. The ECB "endeavors to be an anchor, an island of confidence."

The euro, "very credible"

The ECB president also did not comment on the fall of the euro seen in recent weeks. The single currency, he hammered a currency is "very credible".He did not give further details regarding the buyback of government bonds in place last May in order to guarantee liquidity in a market completely frozen. The ECB has bought for 16.5 billion euros of bonds the first week, 10 billion for the second week, then 5.5 billion for the third, said only Jean-Claude Trichet.

The ECB president was pressed with questions about this decision heterodox. Done rare, Axel Weber, the German member of the Governing Council of the ECB, it is even publicly opposed. Jean-Claude Trichet reiterated that there was "a currency, a central bank, a board of governors," and therefore "a decision and an explanation for this decision" .

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.

This had not happened since September 29, 2008. Minutes before the close of Wall Street, the Dow Jones surpassed 11,000 points. Ultimately, the New York index closed at 10,997 points, up 0.64%. On the Nasdaq, it rose 0.71% to 2454 points.

Despite an increase in enrollment weekly unemployment and a shrinking numbers of consumer credit, U.S. investors appear to have courage and choose again, these days, for optimism. They show little worried, finally re-emerging doubts about the ability of Greece to honor its debts. Perhaps partly because, unlike the French or German banks, U.S. banks are not exposed directly to the crisis in Greece.Banks also suspects for 18 of them have, over the last 5 quarters, artificially reduced their debt just before the quarter end.

No significant new flag is expected before Monday, except on Friday, numbers of U.S. wholesalers' inventories for February, which rose 0.6% in February, more than expected, according to figures published Friday by the Commerce Department.

Yesterday, while European stock markets in the green-mountain this morning showed an average decrease of 1% of their stars indices, the Dow Jones closed 0.3% awarded in the S & P 500 also, and the Nasdaq Composite 0.2%. One way to greet the rise, much higher than expected, sales of major U.S. retailers: Index by Thomson Reuters, they rose in March by 9.1% against 6.3% expected, the highest since 2000.Taking advantage of some better weather, 28 distributors have seen their turnover increase by over 9% a year, a further sign of improving consumer confidence payday loans. GAP (1.06% to 24.85 dollars) has seen its turnover grow by 11% against 3.7% expected and Kohl's (0.37% to 56.84 dollars), 22.5 % against 12.4% expected. In the luxury, Nordstrom posted sales up +16.8%.

These values should continue to lead the coast on Friday, and Apple (0.77% to 241.79 dollars), which announced yesterday a new version of its operating system for the iPhone and iPad and sales 450 000 iPad since Saturday.

After the markets have reacted positively on Thursday, rumors of merger between the airlines U.S. Airways and United Airlines, the two companies have had mixed fortunes in the New York Stock Exchange on Friday.U.S. Airways lost 3.05% to 7.32 dollars, while UAL, parent of United Airlines has gained 1.33% to 20.50 dollars. UAL is in talks with U.S. Airways for a combination that would create one of the largest airlines in the world, according to The New York Times and the Wall Street Journal. This operation would be carried out no exchange of shares.

China's ambitions Tiffany (0.73% to 49.79 dollars), who wants to spend ten to thirty five the number of stores across the Rising Sun could give impetus to the value.

The California oil company Chevron (2.37% to 79.50 dollars a barrel) announced yesterday the results on the first quarter of 2010 as the fourth best in 2009. The group takes advantage of the rising oil prices and a possible improvement in refining margins.The major U.S. must publish its accounts on April 30.

In the pharmacy, the distributor McKesson Corp. (-0.06% to 66.56 U.S. dollars) has announced it will sell its Asia Pacific unit, which provides health services through telephone and Internet, Medibank Private Limited. Giant Australian health services and insurance.

The government has decided to register on May 4 next to the Senate, on its quota, the review of the proposed group law to prohibit New center offers reclassification, in cases of social plans in foreign countries to Wages humiliating. That was nine times that this text, voted unanimously in the National Assembly 30 June 2009, waiting to be examined by the Upper House. On Thursday morning, when Le Figaro in its April 1 edition published an article on the subject, it should not be before October, the quota of the Centrist Union. Its author, Philippe Folliot, MP Tarn, had asked two days ago to Eric Woerth, the new Minister of Labour, register quickly to the quota of government.He won the case today fast cash loans.

This bill seeks to require businesses, where social, making offers of redeployment "accompanied by a fee equivalent". History avoided, as is often the case, the multiplication of "grotesque situations" in the words of Philippe Folliot. The debate was revived earlier this week after the Continental offered to 600 employees from its site Clairoix 60 operator positions in its production subsidiary of Bizerte, Tunisia, for a gross monthly salary of 137 euros per month . A month ago, it was Philips who had offered its 212 employees Dreux reclassify them in Szekesfehervar, Hungary, for 450 euros per month.

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EADS, Airbus's parent company, it going down into the arena against Boeing in an attempt to win a giant contract for 35 billion dollars to supply the U.S. Air Force 179 tanker aircraft? The Pentagon has declared its readiness to extend 60 days of the closing date of the new tender for all EADS decides to apply. The giant European aerospace must inform the Pentagon beginning in May If EADS contributes again, the two candidates have until July 9 to respond to the call for tenders, the Pentagon will render its verdict this fall.

This proposal of the Ministry of Defense, Boeing has missed Thursday comes in the wake of the Obama-Sarkozy meeting in Washington. The two presidents have sought to calm the sceneBarack Obama has promised that the tender would be fair, Nicolas Sarkozy told to trust the President of the United States and found that EADS should respond.

Today, there is no reason to think that the Pentagon will change the 400 evaluation criteria for the tender as Northrop Grumman, EADS ally, was considered biased and cut on able to benefit Boeing and its 767 KC B facing the Airbus A 330 KC. In early March, Northrop decided to throw in the towel and not to compete; EADS had followed.The duo had yet won the contract in 2008 but was canceled.

If the criteria do not change, why it would persist EADS? The stakes are high because Airbus is counting on this contract to settle industrial United States with an assembly plant in Alabama to become a supplier to the Pentagon and a leading market player in the military world.

Therefore EADS can withdraw without having explored all avenues. "The Pentagon is not a political stance: it has opened the door. The question is whether we can rebuild the economy of the project with new partners while meeting the criteria with the best possible price cash advance no fax.This in 60 days, "says one at EADS.

Pentagon Approval

Mission impossible? This time, the group led by Louis Welsh would hand over the project and the allocation of tasks and margins because the Pentagon has agreed to accept as a leader (prime contractor), whereas previously this function was reserved for an American, namely Northrop.

EADS believes can be because it has already proven with the tanker for the Australian Army with the first aircraft to be delivered in Canberra in late 2010. The aircraft systems through the nacelles or the boom, the refueling boom, EADS and Airbus have done everything. Clearly, they have already militarized apparatus.In the U.S., the group would appeal to American partners with specific expertise that does not hold, for example on defense electronics (transmission interconnection between the planes of the U.S. Air Force …). Groups such as BAE Systems, Honeywell or L3com provide a good profile.

As a "bonus", EADS bear more risk, but still would review its pricing policy. In contrast, no question of taking the contract loss. EADS must reach adjust its prices so that its plane, larger than that of Boeing, is competitive. The Pentagon has made it clear he wants the best device whose capabilities are at least those of an airplane that looks like two drops of water in B767 and the lowest price. The Pentagon would not refuse a bigger plane if it did not cost more. The equation is complex.For now, the prevailing consensus within EADS to study the way to the end. But nothing is yet decided.

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