Latest World & National News

A few days after the publication of a sales soaring and better than expected, Ghosn perfect its operation seduction. The CEO of the automaker, which suffered heavy losses last year with 3.1 billion euros of losses, it is one of the most important sector, pledged on Friday at the annual Shareholders' return in the green "no later than 2011.

A challenge for the "cost killer" at Nissan, whose re-election as head of French carmaker should, except surprise, be endorsed. Five years after its accession to the presidency of the group, the economic conditions in 2010 should however be difficult.The scheduled shutdown of the scrappage scheme in particular, should not contribute to boost the profits of Renault.

To find the flexibility brought by the loan of 6 billion euros granted by the state earlier this year, Ghosn has also committed to the shareholders to repay that money more quickly than expected, it ie before the year 2014. "We will refund well before the deadline and we will refund if possible in concert with our friends at PSA," he said as well.

The manufacturer expects to have the freedom again to close and installing production units it wants to reduce its costs. One recalls the intervention of Nicolas Sarkozy to prevent the complete production of the Clio in Turkey …

Palm has found a buyer. Wednesday evening, Hewlett-Packard has announced the acquisition of the pioneer of personal digital assistants for $ 1.2 billion, including debt, a price of 5.7 dollars per share and a Palm 23% premium over the closing price of fence. The operation, which ended weeks of speculation, should be completed as early as July.

Among the potential candidates for the resumption of Palm, as HP had not been heard most often. The specialist Taiwanese smartphone HTC has long held the position of favorite, but recently abandoned. Dell, which focused on the record, it is also diverted. Only Lenovo was officially still in contention, according to the business press.

It is finally another PC manufacturer that has entered the deal. For reasons similar to those that have a time attracted the interest of its competitors.With Palm, HP said in a statement like "better participate in markets that are highly profitable and rapidly growing smartphone and mobile devices connected", where IT groups have gained the upper hand. Apple has pioneered in 2007 with the iPhone. Google has followed with Android. Microsoft began its revival with its Windows phones.

Palm losses have doubled

Hewlett-Packard was anyway not a total stranger in this area cheapest personal loan rats. By merging with Compaq in 2002, he inherited the iPaq line of PDAs, Palm rivals. Today, it has a few models in its catalog, running Windows Mobile. But sales have always been kept confidential, focused on professional fleets.

With the acquisition of Palm, HP equips are better able to target the general public.The Palm Pre and Pixi, distributed in France since Tuesday, are animated by a modern operating system and owner, webOS, which could be adapted to the shelves. Despite some recent departures, Palm can also count on a quality team, headed by Jon Rubinstein, a former Apple, which will remain at HP, and a large patent portfolio.

Hewlett-Packard will nevertheless have to quickly bring order into the sales channel Palm and give a new boost to its marketing. Between December and February, Palm has doubled its losses, which totaled 22 million dollars. Faced with very disappointing sales, it has delivered too many phone operators, who were left with huge stocks and decided to cut off their supplies.

After opening slightly higher, 0.21%, CAC 40, which has enjoyed, this time, a mixed close on Wall Street too, fell into the red. Shortly before noon, the index feature of the Bourse de Paris yielded 1.36% at 3942.91 points, while he had gained 1.17% yesterday night at the close. Subsequently, the markets have been showered by the decision of the Ageng rating S & P lowered the rating two notches debt of Portugal. Like Greece, the country is saddled with a huge deficit. What has worried the markets literally, since the Paris Stock Exchange has stepped up its withdrawal. At the close, the CAC 40 fell by 3.82% in ironing 3,900 points.

Elsewhere, markets are also oriented substantially in the red. London losing more than 2.61%, 3.28% loose Madrid.The Dax in Frankfurt has finally sold 2.73% to 6159.51 points and the FTSE in London, 2.61%, to 5603.52 points.

The outbreak, imperious Plan aid to Greece remains suspended to the new requirements of German thoroughness. The 10-year rate that Athens can refinance markets have exceeded 9.6%. Athex, the Athens Stock Exchange finished in fall of 6%. The markets clearly fear a default if the country does not receive in time, by May 19, the money promised by the EU and the IMF.

A contagion feared

Fears of contagion to other countries in the euro area patients deficits have magnified the nervousness of the markets.

Everywhere, banking stocks weighed on the trend, banks are most exposed in case of default of payment of Greece.

In Paris, BNP Paribas lost 7% in closing, Credit Agricole and Societe Generale 6.42% 6.02%.

Other sources of uncertainty for the sector: Accused of fraud, the bosses at Goldman Sachs on Tuesday defended before the U.S. Senate, which has also defer consideration of the proposed reform of financial regulation.

Meanwhile, "similar problems (to those of Greece), but at a different level are met by other countries," warned the Vice-President of the European Central Bank, Greek Lucas Papademos. This risk is probably overshadowed the macroeconomic data and solid corporate earnings released in Europe (BP, Deutsche Bank and Electrolux) as the U.S. (3M, Dupont, Ford, UPS and U.S. Steel have better than expected.).In New York, tenacious optimism, however, the Dow Jones yielding 1.13% after the closure of Paris. Greece weighed, despite two U.S. indicators able to offset profit-taking and uncertainty: if house prices in February will have recovered only 0.6% a year against 1.3% expected, the confidence index April's consumer, however, rose more than expected, the highest since September 2008.

Lloyd Blankfein, Goldman Sachs boss, and six of its past or present employees may spend unpleasant moments earlier at the Capitol. They are summoned to explain, under oath, the practices of the largest bank on Wall Street before the Permanent Subcommittee on Investigations of the Senate.

Its chairman, Sen. Carl Levin, wants, before the cameras, pushing Goldman Sachs into a corner. He is convinced that, like other banks, it has contributed to the financial crisis through 2008 by selling to investors who may be unaware of the financial derivatives of mortgages she knew highly risky, while also trying to enjoy the likely devaluation of its securities.

These hearings are the culmination of ten months of investigation. Goldman Sachs comes very prepared with the best lawyers instead.Including some who once worked for the commission itself.

The event comes at a doubly crucial. Carl Levin and his team of experienced lawyers did not know that Goldman Sachs would otherwise be charged in civil fraud and conflict of interest by the Securities & Exchange Commission (SEC) last April 16. Now that the U.S. financial markets authority claimed that the institution of New York covers exactly the concerns of the Committee. So, Fabrice Tourre, French employee who is 31 years at Goldman Sachs, namely accused by the SEC, is also among those summoned to explain Tuesday.He was accused of having concealed the bank's customers that it was developing derivatives were designed to lose value and enrich those who sell futures.

Ground

Another "coincidence" at the same time engaging the decisive battle in the Senate to reform the U.S. banking system. The Democrats, pushed by President Obama, trying to rally some Republicans in a text that would strengthen the control of risks taken by banks like Goldman Sachs. The procedure initiated by the SEC and the Committee hearings Levin maintain a political climate conducive to the adoption of legislation that is deemed a priority by the White House to prevent future financial crises.

Goldman Sachs denies having violated the law and denies having benefited unduly from the collapse of securities backed by junk mortgages it sold elsewhere.In 2008, the bank appears to have suffered net losses in this niche. But in 2007, it seems to have benefited greatly in its own account transactions, the collapse of a market it also fed. Internal e-mails from Goldman Sachs, seized by the committee and already published show that Tourre Fabrice and his superiors had understood in 2007 that the U.S. housing market to plummet and the market for derivative products that were "completely death.

Meanwhile, others in Goldman Sachs were pleased with the millions that brought down their speculation on these products. The Committee has already shown Levin in 2008. Its hearings have forced UBS to disrupt its activities and stop the recruitment of U.S. customers wishing to evade taxes.

Today the aim is not to demonstrate that Goldman Sachs had violated the law.It is mainly to prove that American laws should be changed to prevent the banks get richer without the knowledge of their customers.

ALSO READ:

Goldman Sachs is preparing his defense

"The clouds are gathering over Goldman Sachs

Goldman Sachs sued for fraud related to subprime

A "golden boy" among many other French

Alongside the auto show in Beijing that is currently the vice-president of Chinese automaker Changan Automotive has confirmed that an agreement could be reached in a month or two, the establishment in Shenzhen – in the princince Guandgong – a joint venture with Peugeot, owned equally by both partners.

Discussions are therefore underway. But Friday morning, PSA declined to comment and said "do not confirm that information," the French group was described as "rumor" he yaa ten days, while the Chinese press spoke of the reconciliation, confirmed by sources close to the matter.

Geographical complementarity with Dongfeng

Peugeot performs this morning that his priority is "the development of (its) existing partnership with Dongfeng.This joint venture is that we must advance and on which we focus our attention, "said an official communication of PSA.

But, Dongfeng does not cover all of China. This company is based in Beijing and in the center, but not on the east coast, including Shanghai, a rapidly growing region, where Changan is found. A geographical compl?menrit? was highlighted by an internal source at PSA few days ago.

The French manufacturer had initiated discussions in 2007 with China's Hafei, but they had failed.Since then, Hafei has been swallowed by Changan.

Changan, the third Chinese automaker

In 2009, sales of PSA's biggest car market on the planet since January – with 2.6 million vehicles sold in the first quarter – rose 52% to 272,000 cars, compared to 2008, while in first quarter 2010, they jumped 70% over a year. For the full year, the manufacturer is 350,000 copies, thanks to the Citroen C5 and its new Peugeot 408, which will be launched soon.

The PSA remains a tiny player in the Chinese automotive landscape with 3.4% market share. But if the negotiations succeed, Peugeot would be associated with the third Chinese automaker. After acquiring several subsidiaries of the group Avic public in late 2009, Changan was strongly reinforced in his country.The joint venture is interested in the commercial vehicles.

Peugeot will start production in Russia

Straight to the emerging countries. Peugeot maintains its strategy to expand in the economically dynamic and promising prospects.

Russia is a perfect example. The carmaker is launching today the production plant built with Russian co-Mitsubishi.

ALSO READ:

"PSA has found its new ally China

"India and China, two dynamic car markets

"Peugeot 408 builds on the win over China

"SAP is entering the booming Russian market

After a small setback on Thursday at the opening, the U.S. markets have closed up. The Dow Jones gained 0.10% and the Nasdaq was ahead 0.56%.

This turnaround was due inter alia to the banking shares, despite concerns related to the Greek deficit. Investors were no doubt reassured by the president's Barack Obama who has advocated the adoption in Congress to reform U.S. financial regulation to avoid a crisis similar to that of 2008. And, when Wall Street was shaken by the scandal Goldman Sachs. Goldman Sachs gained 0.09% to 159.08 dollars, Morgan Stanley is up 0.73% to 31.91 dollars. However, JP Morgan Chase 1.34% yield to 44.79 dollars.

The bill provides for the creation of an agency for the protection of consumer financial (CFPA) in the central bank (Fed).It offers a better supervision of the huge derivatives market. The sponsors also seek to end the bailouts of major financial institutions in difficulty at the expense of taxpayers.

From the side of the other values, the Starbucks group (7.33% to 27.25 U.S. dollars) has announced a profit after the close of 217.3 million, or 28 cents per share against 25 cents a share. Revenues climbed 9% to 2.5 billion dollars.

Also note eBay announced a profit of $ 398 million (+11%) and annual sales increased 9% to $ 2.2 billion fast cash loans. "After an outstanding fourth quarter, and a good first quarter, the group is very cautious on the prospects for sale" note the experts at Aurel BGC.The track lost 5.74% to 24.78 dollars.

Also in the technology sector, Apple on Wednesday unveiled the results well above expectations steals record after record. The title of the Apple brand has finished on a new historic high of nearly $ 260 per title. Some rumors suggest that Apple might be interested in undertaking MRA. Apple is the biggest customer of ARM and with the launch of the iPad, the Apple brand would have control over the production of chips. The transaction could reach $ 6 billion. The title gained 2.75% to 266.36 dollars.

The health sector is suffering. The market is increasing concern over the impact of U.S. health reform.Consequence: Merck loses 2.73% to 33.79 dollars, Pfizer was down 0.72% to 16.48 dollars or abandons Johnson & Johnson 0.92% to 64.79 dollars.

In the foreign exchange market remains concerned by the problem of debt Greek, the euro is falling against the dollar Thursday. Around 16 hours, the euro is worth 1.3301 dollars (-0.64%).

Energy: one week for the troubled oil

Gravitating around $ 85 last week, oil prices have slowed their rise this week. On the New York Mercantile Exchange, a barrel of light sweet crude for May delivery traded at 84.52 dollars on Monday against a peak of $ 87 on Tuesday of last week. "It comes back to earth, ironic one analyst.

This correction then explained by an increase in inventories of crude reserves in the United States for the tenth straight week. Oil prices continued their decline in the rest of the week despite the fact that the International Atomic Energy Agency (IEA) has again raised its forecast for global oil demand in 2010 of 2% compared to 2009.Investors have been cooled by the analysis of JP Morgan believed that the offer would remain significant because of high inventories of non-members of the Organization of Petroleum Exporting Countries (OPEC).

A wake was held following the publication of positive quarterly results from Intel. The U.S. Agency for Energy Information (EIA) had also announced a surprise drop in crude inventories at 354 million. Since Wednesday, the price has recovered the $ 85. Friday, prices have stabilized around 85.69 dollars per barrel WTI.

Metals: copper, always leading

When China talks about his growth figures, the metals markets are rubbing their hands. Latest macroeconomic figures in Chinese date, the country grew 11.9% yoy in the first quarter. A new whetting the appetite of investors.Remember that China is about 8% growth in 2010.

In markets, copper continued its path toward the summit despite a small reflux (-0.47% over the last 5 days). Friday on the London Metal Exchange (LME), the ton is trading at a consistently high level of 7874 dollars. The goal of $ 8,000 is not far.

Aluminum is also up on the LME, with a gain of 4.30% over 5 days and a high of 2,423 dollars per tonne reached Thursday. A fine performance as the industry giant, the American Alcoa announced Monday that he remained in the red in the first quarter due to special charges related to restructuring. The group was divided into two loss over one year to 201 million dollars.

Nickel is also 8.70% on the week. Ton set a record Thursday at 26,685 dollars on the LME.

Precious Metals: Greece weighs on gold

Gold has had a week sawtooth.The gold shows a decrease of 0.62% over 5 days. Friday, traded 1153.80 dollars per ounce, in a market down by 0.52%. This weakening is due to the rise of the dollar against various currencies worldwide that drives investors to take profits. This weekend, the euro lost 0.3% to an average of 1.3535 dollars amid concerns about the ability of Greece to cope with its crisis. The country has announced its intention to use EU funds to cope with its debt. Gold therefore moves away again from the "peak" predicted by the consulting firm GFMS in its annual report 2010.

The money follows the same path as gold, down from 0.49% to 18.35 dollars per ounce on Friday.The metal still remains above the 18 dollars, a level reached the first time since January last week.

Palladium was trading Friday around $ 540 an ounce on the London Bullion Market (LBM). Prices dropped slightly over the weekend but that does not make the metal more than 6% in 5 days.

Agricultural products in the green

This week has been marked by rising prices for soybeans, corn and wheat on the Chicago futures market. A bushel of wheat climbed Thursday to $ 4.80, allowing a gain of 3.78% over 5 days. Corn was trading at 3.62 dollars per bushel (44.24% in 5 days), while soybeans traded 9.78 dollars per bushel (3.19% in 5 days).

The announcement of a 11.9% growth yoy in the first quarter, China has boosted the morale of investors who expect a steady increase in demand from countries considered major consumers. The news has mostly benefited the soybean: China buys alone 60% of U.S. exports, according to the U.S. Department of Agriculture (USDA).

Both company executives selected from Essex on Wednesday in a Group plant in Macon, doomed for closure, have been released by the employees on the night of Friday to Saturday, after signing an agreement on the negotiations future.Following intense negotiations, repeatedly compromised, the Directorate General of Essex and employees reached late at night to an agreement through the prefecture and the elected council and regional council, on the central works council scheduled for Monday.

The site's director, Olivier Dalicieux, and human resources director, Alain Thomas, came out in silence around 4:30 am, in the presence of forty persons, after more than sixty hours selected in this stage factory son of copper.

Under this agreement, management committed to "embark on the plan to safeguard employment starting April 19 from the bases of negotiation developed by CGT elected.The CGT calls in particular extra-legal compensation of 30,000 euros net for all employees, plus 2,000 euros net per year of service for employees with more than four years of service, capped at 100,000 euros net. In a previous statement, the proposed management bonuses of up to 32,000 euros gross.

"We'll have to break the deadlock"

On Friday, the direction of Essex, owned by South Korean LS Cable, had nine delegates assigned interim staff for evacuation of the site, indicating a hardening of the conflict after a failed mediation attempt in the departmental Labour payday loan no faxing.In the evening, the High Court of Macon had refused assistance from police, believing that management did not provide Essex proof of occupancy or sequestration of its leaders.

"The evidence of obvious disturbance to public order is not established," said the court, ordering the company to also pay the sum of 500 euros in court costs. The decision was greeted with shouts of joy from the employees on the plant site, while management expected a third night of sequestration."We should get out of this impasse," said the lawyer employees, Ms. Beatrice Saggio, calling on leaders to "show more flexibility".

The CGT elected Essex have criticized the Minister of Industry, Christian Estrosi, who said he was "deeply shocked by the behavior of a small minority of employees that holds hostage," the two frameworks: they found "quicker to condemn employees and their representatives to deal with this issue of concern which he has received since November 2009." Since the announcement in late March the closure of the plant which employs 86 people, employees feel that the conservation plan for employment (PSE) has proposed "unsatisfactory".

Can you still perform in France? At a time when a movement of deindustrialization affects the Hexagon, Saint-Gobain slice on the downturn. On Wednesday, the group inaugurated in Chemill? glass, next to Angers, a glass wool factory last generation called G3. A major investment (100 million euros) with the key, the immediate creation of 75 jobs including 25 items made by subcontractors on the site. And when the unit running at full capacity it will employ 150 people. A move welcomed by Prime Minister Francois Fillon, present at the inauguration: "In France, we built factories! You are proof that our country has an industrial future. "There is no inevitability to the relocation, he said the group's CEO, Pierre-Andre de Chalendar.The cost of labor, even if it is too high in France, is not always an obstacle to industrialization. "

That was 38 years, Saint-Gobain had not started a manufacturing plant in France this kind of product. But other businesses of the group have also recently made the choice of production in France. Mid-February, Saint-Gobain has finalized the extension of a site that makes double glazing Crissey, near Chalon-sur-Saone. With again a few tens of indirect jobs.

Sustainability

If Saint-Gobain is the bet of "Made in France", is by economic realism. "Once the glass wool travel more than 400 to 500 km, transport costs become excessive, recognizes Xavier de Maistre, General Manager France of Saint-Gobain Isover.We therefore produce locally for local markets. "In this case, the group chose to locate in Maine-et-Loire, for he had no factory producing glass wool to the markets of west of France.

Saint-Gobain has also launched the opening of an industrial site, because it believes in market prospects opened by the Grenelle Environment. A bet bolstered by the commitment reiterated Wednesday Francois Fillon not relegated to the status of sustainable development subtopic: "The green growth is not the end of the industry: it's renewal." Thus, Saint-Gobain will have to Chemill? a production capacity sufficient to isolate 100 000 houses per year. However, since 2012, some 300 000 to 400 000 houses built each year will be the standard BBC (building low consumption) to be very well insulated."In addition, there are 22 million buildings constructed before 1973 and 30 million non-insulated and poorly insulated," says one at Saint-Gobain Isover. In fact, the glass wool G3 is a good answer to these problems: compared to previous lines, it provides better thermal protection of 30%. What Saint-Gobain dampen somewhat the crisis currently affecting the construction industry.

ALSO READ:

"INTERVIEW – Saint-Gobain: Chalendar" proud "to replace Beffa

"Saint-Gobain: net profit fell by over 85%

"Those industries that resist the crisis

"Saint-Gobain joined the giant solar project Desertec

The files stolen by Herve Falciani the Swiss subsidiary of HSBC bank, and who found themselves in the hands of justice and the French tax authorities have been decrypted. A total of 172,000 accounts have been identified, held by 79,000 people, including 8,231 French. The prosecutor of Nice, Eric de Montgolfier, announced Tuesday night.

It is well beyond what had been said, on March 11 last, the CEO of HSBC Private Bank, Alexander Zeller. The theft "committed by an employee of the department about three years ago, could affect some 15,000 customers," he declared at a news conference.Regarding the French, it is also far escaped the 3000 tax raised by Eric Woerth, budget minister last summer.

Return a long history

The French court before January 20, 2009 at the home of French Herve Falciani encrypted computer files containing a list of accounts held by customers of HSBC. The search was conducted as part of a request by Swiss judicial authorities, suspecting the employee of misappropriation of confidential data between 2006 and 2007.

But before passing to the Swiss – after a standoff of several months – French investigators have analyzed the content of these seizures, which have proved of great interest for justice and the French tax authorities.Prosecutors in Nice opened an investigation for money laundering and tax administration has used the data to identify suspected fraudsters Fast Cash Without a hassle.

The Battle of France

Shareholders who were illegally will pay for it keeps those who do not. Of the 6 billion euros of capital identified in the accounts in Switzerland, 700 million penalty in 2010 will be released. And 700 million euros will be refunded to taxpayers whose tax exceeds 50% of revenues.

In Italy, the method was different. Silvio Berlusconi has been voted an amnesty which showed 95 billion euros of capital and reported $ 6 billion in the Italian Treasury.

But the amnesty is not on the agenda in France. "Because the amnesty called fraud until the next amnesty," said Eric Woerth.

Italy on the alert

"Prosecutors in Turin we sent a request for mutual legal enforcement. He asked to get copies of the data we have captured, "said Eric de Montgolfier. According to the prosecutor, the Italian justice has opened an investigation for tax evasion.

The decoding of stolen files has revealed the names of 7,094 Italians.

ALSO READ:

"HSBC has been how the tax list of tax evaders

"Theft of data: HSBC apologizes

"Fugitives tax: Germans repent

"HSBC" Falciani did not present its list to the tax "

"In the secrets of the computer Falciani