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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Societe Generale and Econom announced Thursday they entered into exclusive negotiations for the acquisition of ECS Group specializes in managing and steering systems of information, the group Econonom.

The offer of this year, specializes in the management of infrastructure and telecom companies, valuing the securities ECS 210 million, the dividend 2009. The transaction will be financed by a particular acquisition debt of 120 million euros. Following the transaction, Societe Generale will own 9% of ECS and "remain a privileged partner" the bank wrote in a statement.

The group Elitegroup Computer Systems (ECS), currently owned 100% Societe Generale, is present in 17 countries, mainly in Europe, and has 1,500 employees.In 2009, it achieved a consolidated turnover of 840 million euros and EBITDA of 28.1 million euros.

Becoming number one

The operation "is a genuinely unique opportunity to strengthen Econocom very significant position in all its markets in Europe" said Jean-Louis Bouchard, president of the economic group in a statement. "We could be the first European group of independent management of technology infrastructure manufacturers and operators with the ambition to become number 1 mobility services to businesses," said he.

With nearly 4000 employees and a turnover of 1.6 billion euros, the new entity would have "the skills and means" according to Jean-Louis Bouchard.The statement said the group would benefit from strong complementarities and the reconciliation process would be facilitated by "the cultural closeness of the teams, and ECS Econocom having the same founder, Jean-Louis Bouchard.

At the Paris Bourse, the Société Générale loses 2.70% to 33.375 euros on a market down 1.90%.

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

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

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

Impasse on first prize

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

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

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

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

The CAC 40 is expected to start Thursday's session in the red, in the wake of U.S. markets yesterday and Asian stock markets this morning. On Wednesday, the CAC 40 closed 0.67% in decline and ended at 4026 points.

Around 8:15 am, the CAC 40 index futures to predict an opening in April 2010 were down 0.38% to 4014 points.

The Greek situtation continues to worry, with its market "disconnected from reality", according to analysts. Wednesday noon, the Greek rate climbed to 7.176%.

The euro declines further against the dollar Thursday in favor of safer currencies considered as the yen. Around 8 am, the euro stood at 1.3332 dollars against 1.3339 dollars on Wednesday in 23 hours.

The ECB decision this afternoon

In France, the day will begin with the publication by the customs authorities of foreign trade value in February (at 8:45).The Department of Budget, at the same time, unveil the monthly statement of the State budget through February. Regarding the euro area, 11 hours, investors will pay particular attention to the retail trade, still for the month of February.

But the decision of the ECB (European Central Bank) on interest rates from the European Union will be scrutinized even more closely. If the status quo is widely expected, any change of tone in the speech of Jean-Claude Trichet could be perceived as a sign of a future monetary tightening.

In the U.S., the most watched weekly claims for unemployment benefits, at 14:30, will be published.Wednesday evening, Ben Bernanke, the Fed chief, said the United States are not "derived from business" and that the country will have to make sacrifices "inevitable" to resume a stronger growth.

Lagard?re pressure

On the alliance Renault-Nissan and Daimler, Dieter Zetsche, CEO of Daimler, has welcomed the agreement. With their partnership, both groups rely on synergies and economies of scale to 2 billion euros each. They also intend to expand their cooperation. "It's not good at the right time, and for good reasons," he said Wednesday at a news conference.

Furthermore, tensions are growing between Lagard?re and Wyser-Pratte. The activist investor has scored two resolutions to the General Meeting of April 27.Note that since March 25, when the Franco-American investor said it held 0.53% of the media group, Lagardere's share rose almost 10%.

According to Les Echos, Airbus, EADS subsidiary, has 60 orders since the beginning of the year. Airbus has delivered 122 planes during the period for airlines including three A380s.

Maurel and Prom of 2009 results published in the red but was confident for 2010. The oil company proposed a dividend of EUR 0.10 (cons 0.35 for 2008).

Greece, with the support of other countries in the euro area, is back this Monday on the markets. It refinances its debt in bonds to 7 years. This issue of Treasury securities Greek makes good business sense for European banks, which appeared in mid-afternoon to honor the offer of Athens. By early afternoon, purchase orders amounting to 7 billion euros, while Athens was planning to raise 5 billion only.

To complete the transaction, Athens has mandated more European banks as on previous occasions, with ING and Societe Generale CIB. Two Greek banks, Alpha Bank and Emporiki Bank (subsidiary of Cr?dit Agricole) and Bank of America-Merrill Lynch, are also involved.

"The transaction represents a double opportunity," said Patrick Jacq, rates and currency strategist at BNP Paribas.First, Greece needs to refinance its debt and receives a guarantee of the Eurogroup. Then, considering the risk ultimately limited the rate of emission, at around 6% according to market sources, is very well paid cash till payday advance. Investors, reassured, therefore have to purchase, essentially says the strategist.

European banks can then buy the Greek bonds and use as a deposit to the European Central Bank (ECB) against loans to shorter terms, but at an interest rate of only 1%. Performance of the obligation Greek (6%) cons of refinancing rate of the ECB (1%) … The calculation is done quickly, "a port to 5 percentage points is very good," Judge Patrick Jacq.

The previous operations, launched January 25 and March 4 this year, had generated five times more demand than supply.Greece should lift nearly 20 billion euros on the market to refinance its debt by the end of May

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After four quarters of decline (-9.3% a year since the second quarter 2008), the slight upward trend is confirmed by figures from INSEE based on those of Notaries from promises of sale signed in Q2 year. While some professional networks, which Laforet Immobilier Wednesday, talk of a recovery, the increase in prices is to be interpreted with great caution.

Indeed, over the past twelve months, property prices remain former fallen sharply, from about 8%, and the number of transactions continues to fall. From September 2008 to September 2009, 550,000 housing transactions have been recorded in metropolitan France, down 25% compared to transactions a year earlier.

Increase of 0.7% in Ile-de-France

During the third quarter of 2009, prices of existing homes rose by 0.7% in Ile-de-France, driven by rising house prices (+1.9%). In one year, the decline is 8.3%: -7.5% for apartments and -9.5% for houses. In Paris, apartment prices rose 1.4% (-7.2% yoy) and those houses by 5.8% (-8.7% yoy). In the provinces, INSEE noted an increase in the third quarter versus the second quarter, 0.1% (+0.6% for the apartment and -0.3% for houses). In one year, the price of existing homes in the province decreased by 7.9% (-6.9% for apartments and -8.5% for houses).

A slow recovery

Improving conditions of loans to individuals for several months have been felt in the housing market. For the economist Michael Mouillart, the market is overtaking its lowest point."The worst is behind us, but the recovery will be slow. The rise in unemployment will slow the pace of recovery, but will not compromise, "analysis" he added that during the year 2010, sales volume should reach the former levels of about 500,000 to 525,000, and prices rise by about 2% to 3%. Mathilde Lemoine, Director of Economic Studies of the HSBC bank, however, is more reserved, "in 2010, stagnant wages due to rising unemployment, rising prices rose in nine and stabilization loan rates should influence the solvency of households and hence on home sales. "

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