International Headlines and Stories

The banks appear to have decisively turned their backs on the crisis. After Societe Generale and BNP Paribas, Natixis is now the group to post record profits for the year 2010. As expected, a subsidiary of Banque Populaire, Caisse d'Epargne (BPCE) recorded a profit of 1.7 billion euros, up sharply from last year. Natixis had published in 2009 a net loss of $ 1.4 billion. In the fourth quarter alone, profits of the bank owned almost 72% BPCE amount to 442 million euros, down 48% but above the 305 million euros expected by analysts.

Another pleasant surprise, the income of the bank are also above estimates. With revenues of 6.5 billion euros for its entire fiscal 2010, Natixis exceeded its own target of six billion euros of net banking income (the equivalent of sales for banks).

At the Paris Bourse, the figures are very well received: the action takes off from 6% to 4.37 euros.

Loss of illiquid assets less

The group's results were driven by favorable portfolio of illiquid assets (hard sell), mainly U.S. products that have become undesirable since the financial crisis. Then they generated a pretax loss of 2.863 billion euros in 2009, they were amputated as the result of 182 million last year. Through various assignments, the portfolio no longer weighed only 7.4 billion at end 2010 (weighted assets) against 29.7 billion at end June 2009.

Another positive outcome of 2010: the control of overheads. They grew more slowly than 4%, the net banking income up 10%.The group has managed to achieve cost synergies, as part of its strategic plan, called New Deal, to the tune of 142 million euros no fax payday loans. In addition, Natixis has also seen an improvement in the cost of risk, down 78% excluding portfolio of illiquid assets.

50% of net income redistributed

And although the bank account to benefit its shareholders of its good health. The direction that it pay a dividend of EUR 0.23 per share, or 50% of net income. This distribution will be accompanied by a payment option in action. A measure to strengthen the equity of the bank in the context of new prudential rules of the Basel Committee.

The bank also shows there is reassuring and a capital ratio under tough new rules of Basel III greater than 8% from 2013.She also reiterated they do not need a capital increase to meet new regulatory requirements.

BPCE poster 3.6 billion profits

Its parent BPCE also unveiled the results of good quality with a net profit of 3.6 billion euros for 2010, multiplied by seven over 2009. The property underlines the good performance of the bank financing and investment, savings and financial services specialist.

With this return, BPCE expressed its intention to fully repay the state before the end of the first quarter, a balance of 2.2 billion euros, said Chief Executive Perol.Initially, the group had set a target to repay the entire loan from the state $ 7.1 billion in late 2012.

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For the second consecutive day, the mobilization continued Saturday in the French ports. In Fos, freight traffic was disrupted at the level of 80-90%, according to Serge COUTOUR, head of the CGT Dockers Gulf. In Marseille East, freight traffic was paralyzed at 100% for containers, according to Daniel Manca, general secretary of CGT Dockers port, which advises cruise passengers to "avoid Marseille. At Havre, the second French port, the movement also continued, including blocking container terminals. Finally, Nantes / Saint-Nazaire, 7 boats were stranded at the dock and 12 offshore.

Far from weakening, the movement should be required to continue at least until Monday included, the day new general meetings must be held.The CGT called in any case employees to continue the blockades.

Early departures

The strikers are mobilizing to defend their right to retire early in retirement under the hardship. CGT ports and docks wants to validate an agreement on the recognition of the harshness found in late October with employers' organizations, which would allow retirement four to five years before the legal age for port workers 5-6000 with funding based on the branch but also from public funds payday loans.

For its part, the government calls for a resumption of negotiations "within the framework defined by the Act of November 2010 on pension reform, which would reduce to two years in advance of departures.Thus, fewer people would be affected.

For Jeremy Julian, Deputy Secretary General of the CGT dock in Le Havre, it is "incredible back on virtually everything that was granted." Serge COUTOUR warns: "The mobilization is still to go. We try to drown us in the case of pensions, while our case was completely offline for two years. "

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The benchmark index of the stock market in South Korea, the Kospi, wins again at 0.92% 2115.69 points on Wednesday at 7 pm. Allowing it to enter its highest level ever in the history of the stock of the country.

Seoul Stock Exchange had already closed the year 2010 before recording a record at the close. The KOSPI surged 21.88% in 2010 to $ 2051 and points, a level not seen since November 2007. Now, the values of South Korean stock market rebounded from ground lost during the crisis, and they even display historic gains, thanks to sustained domestic demand last year, and their results.

Analysts estimate that the KOSPI could rise to 2400 points this year.South Korea enjoys good prospects for growth: as its Central Bank, GDP should grow by 4.5% in 2011.

Tokyo followed the lead of Wall Street

The Tokyo Stock Exchange ended the session on Wednesday edged up 0.36%, investors are showing more optimism about the financial performance of U.S. firms during the presentation. Yesterday, IBM and Apple have unveiled much better results than expected. Thus at the close, the Nikkei 225 index gained 38.12 points to 10,557.10 points. The broader Topix index of his side took 0.57% to 936.87 points.

Note side values, the group of electrical, electronic and computer Japan's Mitsubishi Electric said Wednesday that Japan build a new factory parts for automotive steering, looking to increase its annual production of about 70%.Mitsubishi Electric, which presents itself as a pioneer systems electric power steering, will invest 10 billion yen (90 million euros) for this new factory with an area of 38,000 square meters, which must be put into operation in August 2012.

China U.S.

Chinese President Hu Jintao arrived here Tuesday in the U.S. for a four-day visit, after a year marked by strong tensions between the two powers, with China being the subject of multiple reviews. Hu Jintao heads a country pointed to the issues of human rights and money, impossible to ignore given its economic weight and, increasingly, military and géopolitique.La undervalued the Chinese currency will be at heart talks between Barack Obama and Hu Jintao on Wednesday in Washington.Beijing to revalue its currency at its own pace, while dreaming of one yuan as important as the dollar.

The Chinese are lining up at the station in Shanghai Photo Credits: Alexander F. Yuan / AP

The U.S. stock market posted a small gain on Wednesday. The Dow Jones gained 0.22% at 11,719 points, the Nasdaq climbed 0.54% to 2696 points and the S & P advance of 0.34% to 1275 points. The indices were displayed yet in the red in early trade but the trend was reversed in favor of two macroeconomic statistics found reassuring:

– Operators have learned earlier this afternoon, good numbers of the ADP survey on employment in the United States. Job creation in the private sector were almost three times more than expected in December. In total, 297,000 jobs have been created over this period, while the consensus expected 100,000.This increase is greatest over a month since 2001.This statistics were scrutinized by investors because they often foreshadow those of the monthly report on employment expected Friday, a major indicator to assess the strength of U.S. recovery.

– Moreover, the ISM index on the service sector stood at 57.1 last month, a highest since May 2006, while economists and analysts surveyed on average had forecast an index to 55.6. This is much more representative of the U.S. economy as the ISM manufacturing sector released Monday.

Retail sales climb

Also on the macroeconomic front, according to Retail Metrics, retail sales in the U.S., rose 3.4% in December over a year. This is their strongest growth since 2006 and the best month of the year for U.S. distribution.The snow storms that have occasionally affected sales, purchases by households after Christmas, were very dynamic.

More good news: the real estate office would have improved slightly last year. For the first time in 3 years, rental prices have increased slightly in the fourth quarter 2010 vacancy rate remains high (17.6%, the highest since 1993) and the prices are low (they were $ 25 average in mid-2008). But the stabilization or even slight recovery, employment benefits to this area.

Operators leave a little later the pessimistic talk of the Fed.In reporting its last meeting, it considers that the European crisis is one of threats to the recovery in the United States.

Facebook and Goldman Sachs in the crosshairs of the SEC

The side of values, Constable U.S. stock, the SEC decided to look at investment bank Goldman Sachs (-0.17% to 172.79 dollars) in Facebook, to ensure that it not circumvent the rules governing non-listed companies, says the Wall Street Journal. Under the current rules, dating from the '60s, when a private company reaches a threshold of 500 shareholders, it becomes compelled to disclose certain financial information.Many commentators saw in the investment of 500 million made by Goldman Sachs with the Russian group mail.ru a way for the community site to gain access to customers of the prestigious U.S. bank, while remaining below this threshold, and freeing itself from any limitations of transparency. Depending on the outcome of its investigation, the SEC could recast the regulations in force, according to the Wall Street Journal.For the regulator, the newspaper said, the challenge is to find a compromise between protecting investors and unlisted companies will have access to sources of capital.

Also note, the year 2010 has been very positive for automakers and marks the return of the Big Three U.S. automakers General Motors (-0.34% to 34.77 dollars), Ford (-0.75% at 17, $ 25) and Chrysler, according to figures released yesterday after the close of Wall Street. A total of 11.6 million vehicles were sold in the U.S. last year, up 11% year on year, according to provisional figures from Autodata. Manufacturers should respond to these figures.

Always on the side of values, also after market, the manufacturer of fertilizers Mosaic (2.02% to 76.52 dollars) has published its results for the second fiscal quarter.The group's profits climbed to over $ 1 billion, well beyond analysts' expectations. Turnover was up 59% to $ 2.7 billion is also above expectations.

In addition, the American designer of components for mobile phones Qualcomm (0.65% to 51.30 U.S. dollars) Wednesday announced the acquisition of its partner Atheros Communications (1.44% to 44.63 dollars), a specialist WiFi and Bluetooth connectivity, based on an enterprise value of $ 3.1 billion.

Annual gathering of consumer electronics in Las Vegas

The world of consumer electronics is preparing the opening Thursday of its big annual event in Las Vegas. This market is in full recovery is expected to reach almost one trillion dollars this year.Moreover, the Chinese computer manufacturer Lenovo introduced on Tuesday in Las Vegas a new hybrid version of its IdeaPad computer, a laptop running on Microsoft Windows 7 (-0.70% to 27.89 dollars) whose detachable screen can turn into tablet Android (Google (-0.05% to 601.83 dollars). In the same sector, the U.S. Court of Appeals reinstated a verdict quashed in September who thought the software giant Microsoft guilty of patent infringement against rival Uniloc, but has not confirmed a significant financial penalty of $ 388 million.

In Europe a heavy presumption weighs manipulation on Google.This is evident first of questionnaires sent to European players of the Web by the European Commission as part of its antitrust investigation on U.S. Internet group.

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Good news on the economic front: the number of social plans in France decreases. After peaking in March 2009, the number of backup plans for employment, the official name for the social, has fallen to its level prior to the crisis in France.

The number of social plans announced by companies has shrunk by 53% on a year over the last three months, according to Ministry of Labour published by Les Echos. On the quarter, 230 were committed social plans. November 2010 gives an idea of the extent of reduction of plans: 85 procedures were launched during this month, against 140 a year ago, in November 2009. Better: in October, only 65 backup plans were identified, the figure is the lowest in nearly a decade for the month of October.

Several factors explain this trend. Starting with an upturn.The improved outlook, even thin, "encourage companies not to take drastic action and wait to have all the resources the day when the recovery takes hold," says the Million Voices Thierry, director of studies at Altares .

Expansion breaks conventional

Companies are nonetheless keen to reduce their costs, and will gladly show efficient. They therefore seek alternative ways to restructure. Social plans represent an immediate cost for a company and are not without risks of social, legal and in terms of image.

Thus, companies are more on voluntary severance schemes.Breaks conventional contract are also booming: more than 500,000 applications have been recorded since the inception of the procedure in 2008.

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The Tokyo Stock Exchange ended down 0.85% on Monday after a meeting characterized by very low trading volumes and a climate gloomy backdrop of market decline asiatiques.En effect, stock markets in Hong Kong and Shanghai show a larger decline, -1.18% for the first and -2.10% for the second.

In Tokyo, the Nikkei lost 87.42 points to close at 10,216.41 points and the Topix broader points yielded 4.59 points (0.51%) to 898.55 points.

New tensions on the Korean peninsula have revealed the Seoul stock exchange and in its wake, other Asian markets.

"The sale is due to external reasons and as there are few foreign participants in the market, the volume results in low volatility," noted Hideyuki Oskoshi Chuo Securities faxless cash advance.

Like the actors places Western investors in Tokyo remain concerned about the risks of financial and economic difficulties for Ireland, despite statements by the European countries declared themselves ready to do whatever is necessary to ensure stability of the euro area.

Among the values, Honda ended up 1.39% after announcing Friday a sales target of 730,000 vehicles in 2011, almost 10% more than the 650,000 expected by 2010.

(With Reuters)

From our special correspondent in Seoul: Alexandrine Bouilhet

While the United States and China on the currency falling over in Seoul, the Europeans, they have their eyes on the bond markets, including borrowing rates in Ireland have soared to nearly 9 % during the G20 meeting. Driven by its European partners, Germany-represented in Seoul by Angela Merkel and Wolfgang Schäuble – has agreed to sign a joint declaration to reassure investors before the opening of markets in Europe.

"Whatever the debate on the future permanent mechanism for crisis and the potential involvement of the private sector, we reaffirm clearly that this mechanism does not apply to the debt currently outstanding, or any program currently in place," says release of euro zone ministers G20 business card layouts published in Seoul."The future system will not enter into force before mid 2013, which means it will have no impact on current arrangements," it added. "It applies only to debt as of mid-2013," said Nicolas Sarkozy.

Impact on the euro and debts Italian and Spanish

Fearing a loss of value of their bond portfolio, investors selling massively State debts of the euro area, Ireland and Portugal. Fell to $ 1.37, the euro is at its lowest in a month.

Debt Italian and Spanish are also affected by the movement of defiance, which erupted since Germany has raised the possible losses to the private sector for the next rescue a country from the euro area.

To reassure the markets, the European Ministers recall that the support fund for the euro area (SFEF) already exists, and that "its activation does not require private sector involvement." In other words, if a rescue of Ireland or Portugal took place in the coming days as the markets seem to fear it not accompanied by a restructuring of debt penalizing the private sector, including banks, first holders of government bonds free business card creator .The European umbrella covers Creditors most fragile countries in the euro zone until 2013.

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The waltz of contracts with China begins. The telecoms equipment maker Alcatel-Lucent will sign three contracts with operators China Mobile, China Telecom and China Unicom worth a total of 1.1 billion dollars on Friday on the occasion of the visit to France by Chinese President Hu Jintao , which begins Thursday and ends Saturday.

These three framework agreements will allow the OEM to provide networking solutions and application, and integration services and maintenance to the three Chinese operators, Alcatel-Lucent said in a statement.

Moreover, the oil giant Total is set to join the ICC Chinese energy group to build a coal gasification plant in China, reported the daily La Tribune on Tuesday. A contract valued between two and three billion euros.Again, it is during the Chinese president's visit to France that Total has signed a letter of intent with ICC in order to build together a petrochemical production site, according to the business paper. The Chinese head of state should also sign major contracts, including Airbus and Areva.

Total is a minority shareholder in the project and provide a method for manufacturing plastic components from methanol, from himself gasified coal, a technology that aims to produce plastics with coal, natural gas or biomass instead of oil.

Nicolas Sarkozy speaks on the importance of these contracts and the duty to compromise:

Le Figaro. "Your appointment before the summer, presented as a takeover of guardianship, has attracted much comment. Can you return it?

Dov Zerah. – Some have presented a biased way. Yet things are very simple. Throughout my career, whether at the Treasury Department, Ministry of Cooperation, the French Development Fund, the group-CFDT cotton Dagris, the Court of Auditors and even at the Monnaie de Paris, I practiced a lot of international cooperation. Everything led me to this position. Finally, I have experience of large structures and the President of the Republic, when he was finance minister, was able to verify my skills.

What roadmap have you received your guardianship?

In recent years, AFD has been revolutionized.The large geographical extensions and sectoral lead some to consider that there is no limit to his intervention, which is not correct. Our commitments have been multiplied by 7, or 10 as the reference year. The number of officers has risen sharply. These recruitments also create high demands on human resources to ensure the cohesion of the Agency. Our model drove at high speed for five years, and understanding of what it has become is not easy, even for our guardianship, MPs and senators who control its action. The challenge now is to preserve and stabilize it.Without jeopardizing its development, we must focus our efforts, refine our product offerings from our various partners, the least developed countries (LDCs), middle-income countries (MICs) and emerging countries.

AFD Will it focus on Africa?

Yes. Governments and, in particular Bercy and the Quai d'Orsay, we have effectively mandated to focus our model in the least developed countries, to give the maximum grant to the 14 priority countries of French cooperation. We propose to increase the subsidies of 50 to 80% of the total in these countries, focusing on education and health. In Africa, we want to increase our efforts on agriculture and agro-industry, it is important to ensure food security of populations. This can not happen without the infrastructure, roads and energy.We must focus our interest loans to these sectors in Africa.

This means more profitability in emerging to invest more in the poorest countries?

No, it does not arise in those terms. We have no intent to profit, even if in fact we have a net positive. We can generate margins on loans, because we enjoy the same borrowing terms as our sole shareholder, the state. In 2009, we have received from the state 400 million euros in subsidies to 200 million in grants free business cards. We realized a net profit of 200 million. With about 400 million, we have, our borrowing capacity, funded over $ 6 billion commitment, or 16% of French ODA.The economic model of the agency is good and is a true success story.

What are your priorities in terms of sectors?

The fight against global warming, urban development and vocational training. We are a donor with the most advanced on these three issues. For example, plans to fight against global warming that we finance in Indonesia is a declination of the Grenelle Environment Forum, which became, somehow, a real export. We have established competence in the subject. Urban Development, we are the first institution to lend directly to local communities. This is particularly true in Colombia, Bogota and Medellin.

In view of this shift in emphasis in China to justify it?

It is very important to be present on these three themes that I just mentioned.We are trying to determine all the countries on which we could conduct joint partnerships, particularly in Africa.

Is not that a bit risky strategy, given that Chinese companies are already present?

Africa has enormous potential reservoir of raw materials, high economic growth, urban development very fast. In forty years, the continent's 1.8 billion inhabitants -1 billion more than today, and it will double India and China. It is essential to deal with the economic development of Africa. All those who want to help are welcome. The president has told the Africa-France summit in Nice. It is a very good thing that the Chinese are investing in the continent. In a globalized world, only the winning strategies of cooperation.For us to be increasingly efficient and inventive.

Will you rearrange the AFD?

We must make efforts on operating costs within the RGPP. Five tracks are being considered, including that to resize our network, through the creation of regional agencies, acting as hubs to coordinate the technical expertise to the region. We expect two in Africa and Latin America. We also plan to establish a risk management department, to measure and control all risks. In terms of human resources, we must finally develop mentoring systems. The FDA, which will celebrate next year its 70 years, has an identity and a strong corporate culture: it is one of its greatest assets.

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On Monday, the Paris Bourse should remain in the calm atmosphere which rode on the global financial mrachés. Early this morning, Asian stock markets move in a disorganized manner (Tokyo the Nikkei is closed), while Friday night, Wall Street has stood still while the U.S. consumer confidence crumbles.

On Friday, four days of witches, the CAC 40 avai tried to hook the 3800 points but the key index of the Paris eventually chose the decline, closing at 3722 points. A rumor of a possible IMF aid to Ireland has worried financial markets.

In France, will be followed at noon indices industrial orders (INSEE). Otherwise, for this Monday, no other major statistical expected.But tomorrow night, the Monetary Policy Committee of the Fed, which helps to gauge the economic health of the United States, meets and final speech will be scoured by investors.

Saffron offers L-1 Identity Solutions

On Monday, Natixis will take its first step in the CAC 40, while Publicis returns after having already made a return trip in 2006. Both Dexia and replace values Lagardère coming out. The prices of these securities have already incorporated the new, analysts said. Note that Dexia announced Friday in a statement that trading will be suspended for his action Monday during the reading of a decision of the Court of Appeal in Ghent on the matter LHSP (Lernout & Hauspie).To read the interview with Laurent Mignon, CEO of Natixis, for whom "the entrance to the CAC 40 is a sign of recognition."

Safran announced on Monday morning signed an agreement for the acquisition of L-1 Identity Solutions which will retain only three of the four major activities for 1.09 billion dollars (834 million euros). With this purchase, the group will have 15% of its turnover in the security fast cash online. Jean-Paul Herteman, CEO of Safran, justified in an interview with Le Figaro this operation.

A two-Renault will be sold outside Europe in 2013. Patrick Pelata, deputy CEO of Renault, plans to lower sales in Europe by the end of the year but finds a real dynamism in emerging markets.PSA side, the boss says target of 8% market share in China.

Zodiac Aerospace announced Friday the termination of the shareholders agreement signed in late 2006 between the FFP, the holding company of the Peugeot family, and signed by some of its family shareholders of an agreement for assignment. The group will also publish this evening after-hours trade turnover annually.

Airbus (EADS) is "much better" than three years ago. The manufacturer will continue its international expansion, particularly in China and India, has assured its CEO, Thomas Enders, during an open house at Toulouse on Sunday.

Maurel & Prom said on Monday that its second exploration well in the field sabanero, Colombia, had revealed the presence of crude oil. The Maurel & Prom has already benefited last week from the announcement of good results from a well drilled in Gabon.

APRR.The buyout offer (OPR) on APRR has been extended beyond Sept. 24 pending the decision of the Court of Appeal of Paris on the appeal lodged by the Socialist deputy Saone-et-Loire Arnaud Montebourg.

Sanofi-aventis will introduce today its Phase III studies on Lixisenatide at a conference in Stockholm on diabetes.

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