International Headlines and Stories

Ghent, in northern Belgium, hopes to lead by example. Alderman (elected) of Finance of the city, the Liberal Christophe Peeters, announced the withdrawal next 30 to 35 million euros were deposited in the accounts of banks Dexia and KBC in the name of the fight against the "bonus comfortable granted to bosses, "he said.

Dexia has announced the beginning of the payment to its managing director Pierre Mariani variable compensation of 600,000 euros for the year 2010. KBC for its part stated its intention to resume the payment of bonuses to its executives. These two institutions had to be helped by the government during the financial crisis. "When things were going badly, the taxpayers' money has helped the banks. Now that the situation improves, the banks start bonus of the same culture.We are not saying that this is not only ethical, but we act with the language of money, "protested Christophe Peeters.

Compensation "in accordance with legal provisions"

The amount that will remove the city corresponds to short-term investments. Christophe Peeters Dexia and KBC now threatens to turn to banks that do not grant bonuses "unreasonable" for the money to pay his wages and new investments in the long term cash till payday.

Following this decision, KBC announced its regret while stressing that the city was within its rights. For its part, Dexia said that its compensation policy was consistent with legal and regulatory European, Belgian and French.

Tougher legislation to

Although legal, these decisions go wrong with Brussels.European Commissioner for Financial Services, Michel Barnier, said that calls for moderation "were not heard." It now threatens to tighten the law of the European Union. In Belgium, the new Governor of National Bank, Luc Coene, also deemed "indecent" that banks that have benefited from government support grant bonuses to their executives.

The movement seems well underway across Europe. At the same time, Dexia and KBC, the BPCE (People's Bank – Savings Bank) announced the grant to the President Perol a bonus of one million euros in the year 2010. Like his colleagues in Belgium, the French bank had received a boost of 7.1 billion euros in state aid to help head out of water during the crisis.

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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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The purchasing power of French has been cut sharply last year by soaring housing costs. In 2010, the French spent 297.7 billion euros at their homes. Each household has spent 9800 euros for lodging, cons 9,500 euros in 2009. The budget for housing has increased by 4.2% last year, nearly three times more than inflation (+1.5%), and against an increase of 1.8% in 2009, according National Accounts of Housing released Wednesday by the Department of Ecology.

The energy cost and expenses for the rise. According to ministry figures, energy costs rose 12.1% in 2010 resulting from higher prices for oil and gas where the increase was between 22% and 36% over the last 5 years .Moreover, the volume of consumption has also increased due to mild weather less than in 2009.

The charges, which account for one tenth of the total, have also registered an acceleration in 2010: they increased by 2.2% in 2010 after rising 1.3% in 2009).

Accommodation: First item of expenditure of the French

Conversely, higher rents, which account for three quarters of current spending, slowed in 2010 for the fifth consecutive year online payday loan lenders. It increased by 2.7% against an increase of 3.1% in 2009. The private sector recorded an increase of 1.3%, below that of the social sector by 2.0%, for the third straight year.

Housing remains the largest spending item of the French.In 2009, they spent 21.7% of their disposable income on current housing expenses, twice more than for food or transport, which both occupy nearly 11.5% of expenditures.

Secretary of State for Housing Benoist Appeared acknowledged Wednesday that the housing situation in France was "serious", after the publication of the report of the Abbé Pierre Foundation. According to the association, 10 million French people are victims of housing crisis.

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2011 will take the form of a simple equation for Boeing. On the one hand, the U.S. defense budget is on: the Pentagon plans to achieve 154 billion dollars in savings by 2016 through restructuring and abandonment program. The other, air traffic takes off and demand for new airliners recovers. If he wants to take this crisis, Boeing faces several challenges. And the primary certifying and then delivering his B 787 successful ramp-up industrial Dreamliner set at 2 per month in 2010 to 10 in 2013. The new long-haul Boeing accuses three years behind the counter and Boeing has more room for error after yet another delay in the delivery schedule.

James McNerney, CEO of the Chicago giant, is stepped into the breach yesterday by presenting the results of fiscal 2010."In 2011, we will focus on delivering the B 787 and B 747-8. They will go into service this year, "he promised. The first delivery must take place during the third quarter of 2011. The stakes are high as 57 airlines have ordered 847 copies. As for the B 747-8, which has won no command last year, Boeing expects to deliver the first cargo plane in mid-2011 and late 2011 passengers.

Reply to A 320 NEO

In 2010, these two programs, which have accumulated delays, setbacks and additional expenses were again weighed on the results of Boeing Commercial Aviation (BCA) to the tune of 2.7 billion dollars for the 787 and only $ 1.4 B billion for the B 747-8. And turnover of BCA has dropped 11% (see table).Despite this, the group as a whole has doubled its net profit to 3.3 billion dollars compared to 2009.

But Wall Street has not seduced: the title yielded 3.59%, to 69.64 dollars yesterday during the session and weighed on the direction of Dow Jones. Investors have been showered by the 2011 outlook below expectations and the challenges facing Boeing. The group's management anticipates a turnover of between 68 and 71 billion dollars but the results "will be affected by the revision of the schedule B 787, an increase in pension expenditure and a tense situation on the defense market" says she.

Beyond the B 787 and B 747-8, Boeing is facing critical choices on two other successful programs. Reengine or not its medium-haul B737 to meet the Airbus A 320 NEO? "We will continue working on this issue with our customers.If we were wrong and they want a re-engined aircraft rather than a new device that would be launched around 2020-2025, and although we will act. But I do not think this will happen, "James McNerney develops.

Another trade expected in 2011 in the large aircraft segment: launch a derivative of B 777 to counter the future Airbus 350-1000 or expand the family of the B 787?

Three questions for Yves Galland, president and CEO of Boeing France

Yves Galland

Electroshock. The announcement from Steve Jobs yesterday (Monday) to take off again, weighed heavily on investor sentiment. As usual, when the captain left Apple-temporarily-ship Apple, the first symptom is the sudden shiver, followed by the heart racing. And generally, the stock price of the third widest largest market capitalization in the world wins. Is still the case on Tuesday: Mid-afternoon, the title loses 3.55% to 336.11 dollars.

According to Piper Jaffray analyst Gene Munster, "every time Steve Jobs had to leave to sick leave, the impact on Apple stock was lower. The last time the boss's absence, between January and June 2009, the same as Apple has jumped 50% over the period.A few months ago, however, while the man had appeared weak and emaciated at a conference, he had plunged 10% in one week.

Quarterly results expected tonight

So even if the statement sent to its employees, only six lines and rather elusive – you know neither the severity of her condition or the duration of his absence – the mere fact of being "transparent" seems a better way Apple. Tim Cook has sought to clarify that "Jobs is not leaving his post as CEO, we believe that his absence will be both shorter and less serious than last time."

Finally, this Tuesday is the day that Apple unveils its quarterly results. Good numbers might cons-balance the bad news on the health front of Steve Jobs.However, unless major surprise, the publication of tonight should again be placed under the sign of growth and performance, including its flagship iPhone and iPad.

And nothing seems to stop the mad rise of the mark to market the apple. The Apple stock, which has exceeded for the first time in its history the 350 dollars last week, still rose 50% over the last six months. Last May, Apple has ousted its longtime rival Microsoft in terms of market capitalization, which topped the beginning of this year's $ 300 billion.

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In addition to being the richest man in France, his fortune amounted to 22.7 billion euros, Bernard Arnault, boss of LMVH, holds another record. According to the financial information site, Wansquare he exercised stock options to acquire nearly 1.4 million shares of the group.

In detail, he initially served on December 17 of stock options granted by LVMH to acquire 600,000 shares at a price of 43.3 euros. Then, on Dec. 20, he acquired 187,670 at a price of 52.82 euros.In total, he bought 787,670 shares in December, LVMH, which must be added the 600,000 acquired on November 26 by exercising stock options awarded by the group.

Franck Riboud worse than Bernard Arnault

If it sold 1,387,670 shares at the current price of 125.75 euros, Bernard Arnault and realize a capital gain potential of 99.5 million euros, based on the current price of LMVH. However, Bernard Arnault "did not intend to sell its securities. It is an investment in his group, "said a spokesman for the group.

Nothing to do with that Franck Riboud, CEO of Danone, could make if it sold the 141,330 stock options he acquired December 22, or 2.83 million euros.Last year at the same time, the CEO of Danone had already realized a gain of 3.351 million euros in carrying hundreds of thousands of stock options before Danone to sell securities.

LVMH has the highest increase in the CAC 40 since the beginning of the year, earning 59.8%, while Danone has appreciated 11.94%.

It all started with an ordinary dinner with billionaires held there over a year. Warren Buffett and Bill Gates, the two largest American fortunes, initiated the idea of a movement bringing together the richest people of the United States who agree to donate at least half of their wealth to charitable causes. Called "The Giving Pledge" (the pledge), the movement is taking shape last summer.

According to Forbes, the U.S. currently has over 400 billionaires. Quickly forty families adhere to the draft that Gates and Buffett, Michael Bloomberg, mayor of New York and leader of the group financial Bloomberg LP, Barron Hilton, heir to the empire hotel, the director George Lucas, the media magnate Ted Turner, co-founder Larry Ellison of Oracle and David Rockefeller, heir to the oil king John D. Rockefeller.

The movement is snowballing.Seventeen new millionaires have joined the movement, including co-founder of AOL Steve Case, CEO of Facebook Mark Zuckerberg, the financier Carl Icahn and Michael Milken, the former Wall Street executive who was imprisoned for violating the legislation on securities.

Warren Buffett and Bill Gates does not have to stop there. They went to China in September to promote philanthropy without rival among the many new rich of the former Middle Kingdom. The two Americans also plan to argue their case in India in 2011.

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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 rate of household credit in September reached the lowest level on record, continuing the decline as mortgage side than on consumer credit, according to figures released Wednesday by the Bank of France.

According to the institution, all credits and rate all maturities rose to 4.63% in September. The previous record was set in July 2005 with 4.70%.

The rate of housing loans at fixed rates, all durations combined, it was near the lowest level ever, at 3.52% against 3.50% in November 2005.

The decline also continues for consumer credit, including the average rate reached 5.95% in September low fee payday advance. It has been below this threshold only twice in September and October 2005. In business, after a slight rebound in August, the average rate loans fell in September to 2.96%.It was located in May to the lowest level on record, at 2.82%.

The series of Bank of France only go back to 1990 for these indicators. However, the level of inflation prior to this period suggests that the rate never dropped below these levels before.

SNCF strikes, road operations snails … The movement against pension reform is ongoing and continue to disrupt transportation in the country.

• SNCF

The four main unions of the SNCF announced a "significant rebound" of the strike on Sunday evening and especially on Monday, promising measures that are "badly in terms of economic consequences." "I think tomorrow we will have a strike rate that will go well beyond the 30% a little classic," assured Didier Le Reste, head of the CGT-Cheminots. This Sunday, the CGT has counted 26.55% of strikers (25.4% Saturday) while management did not provide figures.

SNCF TGV provides an average of two Monday. In detail, six out of ten trains will travel on TGV departing or arriving in Paris, and a cut on four routes in the province, said the station.TGV trains between Belgium and the province will be limited to Lille.

Moreover links between Nimes, Montpellier and Beziers are disrupted since Monday morning, 7 hours, protesters invaded the railway lines in the Gard and Hérault ..

Traffic will be greater than a second train for Transilien and TER. There will be more than one train on three trains Corail day.

The connection will be normal Eurostar between Paris and London and trains to Germany almost normal. In contrast, all Thalys trains will be eliminated due to the Belgian railway strike. Seven sets of ten work for Switzerland and the daytime traffic to Italy will be limited to one roundtrip Paris-Milan.The traffic of other international trains will not be insured.

Information:

http://www.sncf.com

http://www.infolignes.com

http://www.abcdtrains.com

The site-by-station mouvement.com also serves to check the bulletin boards (arrivals and departures) from the station of his choice.

• RATP (Paris Metro)

The traffic was "normal or near normal" throughout the metro, bus, tramway and RER line A Monday morning at 6:15, with the exception of the RER line B, where two out of three trains were circulation.

The RER B area RATP (the Paris-Nord Robinson and Saint-Remy-les-Chevreuse south), interconnection with the SNCF Gare du Nord is not assured, said the authority.

Information:

More information: http://www.ratp.fr/

Freephone: 0.800.15.11.11

• In Toulouse

The two bus depots Tisseo, the network transit Toulouse, were blocked on Monday morning by traminots and railway as part of the mobilization against the pension reform. According Delpérier Franck, head of the union south road, about 500 South and CGT activists have blocked the two deposits north and south of the city of Toulouse between 4.30 and 9.30 fast cash without a hassle. Police confirmed the blocking of two bus depots, estimating the number of militants involved in about 300 at both sites.

• At Saint-Etienne

Transit of Saint Etienne were severely disrupted on Monday due to blockage of the main bus depot and tram by about fifty protesters."There are people outside the company," said a representative of the direction of the League of Transit of Saint Etienne.

These demonstrators who blocked the exit of vehicles transport from 4:45 are mostly derived from the transport station, health and education and claim to be FOR, Sud Rail and the CGT, the source said.

• Airports

Planes taking off from Roissy Charles de Gaulle should not miss kerosene early next week as the pipeline that supplies the airport in Paris is back in service. According to the Secretary of State for Transport, Dominique Bussereau, feeding the Paris airports no longer a concern.

CGT Air France responded Monday morning by calling the blocking of airports Wednesday.

Information:

http://www.aeroportsdeparis.fr

• Road

"A dozen vehicles" led an operation on Monday morning snail on the A6, a suburb south of Paris, announced the Central Asian Regional Information and Coordination road Ile-de-France (CRICR), resulting in upstream a sharp slowdown.

In the North, a procession of 15 cars and two trucks, which will start in Lille, Labour Exchange, to get at the toll Fresnes les Montauban by the A1 highway, impeding traffic on slow and middle lanes . The left lane is free. Of strong disturbances are expected.

Maine-et-Loire, on the N1160 St Sylvain d'Anjou (5km from Angers) a fixed barrier filter was placed in the junction A11 / A87. Protesters on the tracks.The D52 is also blocked, with no access to heavy industrial zone Ecouflant.

Unions have warned of road this weekend as they prepared to tighten the movement against pension reform. "We must expand the actions and participate in events on Tuesday, had called Saturday for example, the CGT federation Transport.

Information:

http://www.bison-fute.equipement.gouv.fr

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