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Thirty cents per share higher than what was proposed Hewlett-Packard. Dell renews its bid for 3PAR, with a proposal barely exceeds that of his rival, HP. After proposing $ 1.15 billion to buy the U.S. company data storage, Dell has had to increase its offer. Hewlett Packard had submitted a tender surprise on Monday of $ 1.6 billion, or $ 24 per share. Dell has proposed 30 cents more per share.

Takeover bid for all shares 3PAR

If the transaction has yet to receive regulatory approval, the computer maker said in a statement, however it should be finalized before the end of the year. "It should have a positive impact on our earnings before exceptional items from the fiscal year 2012, the company said.Dell now has until Sept. 20 to launch a public offer to acquire all the shares of 3PAR "through a subsidiary that owns 100%," says he needed no fax payday loans.

This acquisition will expand its range of storage products for the cloud computing (cloud computing via the Internet) and support its service activities. "With the acquisition of 3PAR, Dell will have the range of storage products for the broader market," said Dave Johnson, vice president of U.S. computer company, said in the statement. Data storage is the priority of our strategy.

3PAR does not wish to comment on this new offer, stating that it will "soon" on the subject.

Around 4:00 p.m., 3PAR lost 1.53% to 26.35 dollars, while Hewlett-Packard and Dell gained 0.42% respectively to 38.40% and 0.21 dollars to 11.81 dollars in a rising market 0.16%.

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"Hewlett Packard and Dell in the struggle on the high-tech

Everything is improving at L'Oreal. The activity is accelerating in its four divisions – professional products, consumer, luxury, and active cosmetics – and in all regions of the world. Operating income rose twice as fast as the turnover and can find a record level of margin, and net profit falls sharply increase.

In detail, while turnover rose 6.3% to 9.67 billion euros in the first half of 2010 – a 13% growth in the Asia-Pacific – the Operating profit climbed 21.4% over the first six months of 2009, to 1.67 billion euros. The operating margin amounted to 17.3% as well. This is well beyond what the consensus expected, with a margin of 15.4% referred. And allowing it to regain its peak level reached in the first half of 2008.In the public sector, the margin rises to 20.4% while in the luxury, it is 28%.

In this context, the net profit of L'Oreal rises 21.2% to 1.316 billion euros. Per share, net income amounted to 2.39 euros, an increase of 15.3%.

Note also that the net debt stood at 1.67 billion euros at June 30, 2010, and is thus reduced from 300 million euros compared to late 2009.The debt ratio amounted to 11.7% of equity.

DG confident

Commenting on these figures, Jean-Paul Agon, CEO of L'Oreal, welcomes the group's strategic choice: "focus on innovations with high value added and affordable price, expansion into new product categories, accelerating the international expansion and investment in proactive ways advertising and promotion and research. "

"These findings fall within the virtuous spiral of growth of the group and confirm the vitality of the business model L'Oreal," he added.

A stock market as attractive

The L'Oréal closed Wednesday at 75.77 euros on the Paris Stock Exchange, posting a decline of 2.9% since the beginning of the year, while the index diversified European consumer goods ahead of 10 5% over the period.At this price level, the Group's market capitalization stood at 45.2 billion euros.

The value of trades on valuation multiples of about 17.5 times its earnings estimates by analysts for 2011, well below the average for the last five years (24.5 times) but considerably higher than the 14.7 overall average in the sector. The chifrfes indicating that L'Oreal shares are not expensive in terms of its performance. Natixis Securities aims, for example 97 euros for a potential increase in value by 28%.

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"L'Oreal to conquer the Chinese customers

The Agency for State Holdings is undergoing a revolution. The scheduled departure in September of its CEO, Bruno Bezard, economic mission to Beijing, is an opportunity for the state to reassert its role as shareholder. The government Tuesday appointed by the Council of Ministers Jean-Dominique Comolli, former boss of Seita, Commissioner of State Holdings. He will then head the Agency state ownership.

A new title tailored, while the state wants to take over the industrial policy of the companies in which it holds shares now on, the boss of the EPA no longer depend on the Treasury, but will report directly to the Minister of Economy. "We consider that the state must play a role that heritage," says one in the entourage of Christine Lagarde.By appointing one person with a strong political status – the commissioner – "there is also a desire to reorganize things, establish a system that discourages employers from rushing to the Elysee to discuss their small business," says near the record.

The appointment of Jean-Dominique Comolli also fits into "a major change in the role" of state ownership and the EPA, said the report of the Council of Ministers.

As the President announced when the States-General of Industry in March, this development will lead the state "to be at the forefront of driving the vision of its shareholdings and so assert, for undertakings concerned, a strategy of industrial development and economic clear long term. "

Air France, EDF, France Telecom and other Safran now know they only have to behave! Already, Nicolas Sarkozy announced that a director would be appointed representing the state "consistently" next to the Director for the Department of Economics, but now for each company in which the State is a shareholder, a formal meeting between the relevant ministers and leaders will be held each semester – in addition to those that take place informally – "to make a strategic point. More question of discovering projects at the last minute.We remember last January, the invitation to the Elysee the boss of Renault, Carlos Ghosn, who had just unveiled its intention to produce some of the Clio in Turkey IV.

Set to music complicated

The state will also require "regular reviews" on the policy of personnel management, employment, subcontracting, procurement, investment, etc..

Jean-Dominique Comolli will have to partition complex music: establishing a more readable management companies, but does not give the impression of greater interference.The EPA had she not been established in 2004 to remove the political power of corporate management, after a report by Rene Barbier de la Serre, a former banker and is the financial center, had pointed to "the presence Excessive state in the daily management of the company?

Jean-Dominique Comolli "has the perfect profile, make sure there in the ranks of government. The future commissioner, 62, near the famous head of state despite a long career in the offices of the left, knows both the workings of government and enterprise. ENA civil administrator in the Directorate of Budget from 1977 to 1981, he became after election of François Mitterrand to the presidency of the Republic adviser to Laurent Fabius.

In 1986 he was appointed Deputy Director in the Budget, before becoming in 1988 Chief of Staff Michel Charasse Budget.In September 1989 he was appointed head of Customs, before becoming president of Seita, while public group in 1993. He co-chair Altadis after its merger with Tabacalera.

Since 2005, he chaired the Board of Directors of Altadis, since bought by Britain's Imperial Tobacco – which he became vice-chairman of the board of directors in 2008. He held up his new duties on September 15.

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"When the state interferes in the affairs of industrial

The U.S. stock market should be wary about the direction to take the opening in an atmosphere remained febrile for several major events at the macroeconomic level. The index futures are predicting a slight decrease in opening markets américains.Les future on Standard & Poor's 500 and Nasdaq 100 recoil effect, respectively, from 0.19% to 1108.70 points and 1884.25 points to 0.12%. On Tuesday, the NYSE has closed in a fragmented, divided between publications very positive company like Du Pont chemist, and the downturn in consumer confidence in July. At the end, the Dow Jones gained 0.12% to 10,537.77 points.The S & P 500 is broader, has lost him, 0.11%, to 1113.76 points and the Nasdaq fell 0.36% to 2288.25 points.

On the foreign exchange market, the euro was maintained in the morning to its best levels since two months around $ 1.30.

At the macroeconomic level, the U.S. central bank must now publish its Beige Book on economic conditions. It will be very guarded while the president of the institution, Bernanke said there is just one week before the Congress, the slow recovery, with no announcement of new funding in the economy.But it was the day Friday with the first estimate of gross domestic product (GDP) that will attract the attention of investors.

On the side of values, the telecom equipment maker Broadcom announced yesterday after the close of Wall Street quarterly profit of $ 278 million, against $ 13.4 million last year electronic check payday advance. Turnover was up 54% (+10% sequentially) to $ 1.6 billion.

Note also the biotechnology group Cephalon issued a quarterly profit of $ 89.1 million, well above expectations.

Always on the side of values, the Wall Street Journal, internet group Google is in talks with several video game publishers, in order to enlist their support for setting up a social networking service that would compete with Facebook .Some game publishers approached by Google Playdom be included, a publisher whose Disney announced the acquisition Tuesday, Playfish, bought last year by Electronic Arts, and Zynga, in which Google has already invested, it said.

For its part, the Microsoft IT group has criticized the partnership between Yahoo! Japan and Google, saying it would end the competition in the internet search in Japan and has questioned its "legality".

Also note, the oil company BP will have to "change the culture" after the oil spill in the Gulf of Mexico, said its new CEO, American Bob Dudley, in an interview on ABC.

Eurazeo, owner of the chain of budget hotels B & B wants to sell its stake of 73%, raises interest. Candidates have until Monday to surrender to submit their bids firm, a transaction that may occur in the wake.

For the moment, there are four candidates. According to our information, this investment fund Carlyle, Bridgepoint, LBO France and PAI Partners. Starwood Capital could be added to this list at the last minute. Eurazeo, which had taken control of B & B in 2005 to approximately 380 million euros, expects the deals financed at the top of the range between 450 and 500 million euros.

With 227 hotels (187 in France, 35 Germany, 4 in Italy and one in Poland), B & B is a turnover of 200 million euros this year.

Confident for banks, Christine Lagarde prepares for the fall an action plan for large exporters French.

LE FIGARO. – You now receive your German counterpart, Wolfgang Schäuble, the Council of Ministers, while you were in March, criticized the German economic model …

Christine Lagarde. – First, the participation of Wolfgang Schäuble, the Council of Ministers is the first by a German minister. But what a powerful symbol of closeness is in fact very natural when you know that contacts are actually daily between France and Germany. It happens every week, I spoke at least twice to Wolfgang Schäuble to harmonize our positions. And the director of the French Treasury is in daily contact with his counterpart. I have not criticized the German model.I said: "From the perspective of European stability, we must all make efforts, setting the course as a priority of deficit reduction."

Germany is today a leading exporter. Should we be inspired?

The competitiveness of Germany is higher than ours, but France has real expertise in major infrastructure projects in energy, transport, water, meeting the needs of large emerging countries. We need better value.

How?

We were gone in 15 years more than 100,000 companies exporting to 90,000 just, and we regularly lose market share. It was therefore necessary to react.We did this by structural measures for firms, such as reform of the tax credit, research or business tax, and we also created in 2008, a specialized agency – Ubifrance – to support SMEs exports in 44 countries. The experiment was successful: between 2008 and 2010, activity doubled. So I decided, with Anne-Marie Idrac, increase next year's budget speech, more than 20%. It is a considerable effort since the same time, the budget for my department will decrease.

And the big contracts?

In this area, the recovery is taking shape but with a "kick 7.2 billion euros in the fourth quarter 2009 and 3.3 billion in the first quarter 2010 and 6.5 billion in the second quarter. Our goal is to make every effort to seize the opportunities offered by the booming market of large emerging countries.For this, we initiated a strategic dialogue in the spring with thirty large exporters, who were asked to reflect on what needs to be improved no faxing cash advance. We meet them again in the fall at Bercy to develop a plan of action.

Some tracks stand out there already?

Yes. It will inevitably revise our system of financing, taking greater account of the interests of strategic partnerships between French and foreign companies, and also establish more reciprocal anti-corruption standards, environmental, social … The last point could be the agenda of the G20 Finance.

To avoid that France republishes failure of Abu Dhabi on nuclear power, should we not also a better coordination of actors?

The loss of the contract for the plant is actually part of the warning signals. There is no compromise on quality and security, especially nuclear, but we must take greater account of customer needs, for example by developing medium-size reactors, such as TDD, from the cooperation with Areva and Mitsubishi. And also, probably, in increasing the business to co-ordinating bodies such as the Inter-Departmental Support International Contracts (CIAC).

On Friday, the European Central Bank will publish the results of stress tests of 91 European banks. What do you expect?

I am following as milk on the fire.But I am totally confident about the outcome of the French banks after the stress tests.

The taboo of the word "rigor" is definitely broken?

The word "rilance" I started, has been much ink. It does not reflect a wealth of government but the need, on one hand, to apply the principle of budgetary discipline in the process of spending and the other to continue to support the value creation and employment , which is needed in France, targeting innovation and investment.

You are reluctant to abolish eight declared the twenty-eight positions in your firm. Will you do?

First, there is no panic on board as some say. Departures are planned, because after three years of study can be exhausted or aspire to other horizons.I will follow instructions, as I always did it with a cabinet composed only of formal collaborators and I want to honor them, they are not unworthy. We will achieve our objectives in a timely manner.

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Negotiations between the Ministry of Defence and Thales and Safran industry saw the standoff, reports the Tribune published on Friday. The discussions were intended to streamline the activities of inertial navigation and optronics the two groups failed last May, to the chagrin of Hervé Morin. The time for talking would be gone for the minister, who is now past actions by deciding to freeze the state contracts with two companies.

All contracts would therefore be blocked, except for rush orders, notably for French soldiers engaged in overseas operations. The amount of contracts outstanding for the year 2010 amounts to 300 million euros, according to a source close to the case examined by the Tribune.

Concern Thales

Thales is undoubtedly the most affected by the punishment of the Department.In addition, the group currently has to face the distrust of rating agencies dissatisfied savings plan of 1.3 billion euros that the industry announced last December, Moody's downgraded, earlier this week, the debt rating of the group's long term by one notch to A2.

The anxiety is palpable within the group: "We are heading for disaster," confides a source in The Tribune. The business daily estimated 135 contracts between the ministry and Thales could be frozen.

Safran, less dependent on state orders, is more serene. Its leader has displayed his optimism for the year 2010-2011, and reiterated his desire to remain independent, denying recent rumors of a merger with Zodiac.

After the government advertisement To reduce the funds allocated to several departments, Jean-Louis Borloo has described some of the measures envisaged to his ministry, according to Les Echos published on Friday. The Department of Ecology and Sustainable Development is indeed an important concern to put on a diet of government: it gives rise to tax benefits more expensive for the state (15 billion euros after Les Echos) that it would reduce to 8.5 to 10 billion euros. Moreover, these measures increase of 800 million euros annually.

In all, nearly two billion euros would be saved by 2012, including one billion on niches "green" these tax benefits related to work "green".Jean-Louis Borloo has raised the deduction available to individuals who install photovoltaic panels on the roof of their home loans pay day. The shortfall for the State is estimated at 800 million euros. It could therefore be reduced by at least 50% reserved for existing homes.

The list of works "green" that give rise to tax benefits could also be reduced. The tax cuts themselves could also decrease by 10%. As for renovations "non-green", they could lose their advantage of a VAT at 5.5%.

Finally, the government also calls into question his support for biofuels. They enjoy a double benefit: a reduced fee and the requirement for all distributors to offer for sale.

The Paris markets are taking a break on Wednesday after a strong upward meeting. At midterm, the CAC 40 was down 1.49% to 3372 points. But this decline was attenuated thereafter, the ACC back even balance around 15:30 at the opening of Wall Street. Investors were relieved after learning details of discounts debts zuro monarch in the area to be taken into account in the "stress tests".

Resistance testing of European banks do not include discount on German sovereign debt, said two banking sources told Reuters, adding that French loans could eventually be delisted, but very limited. It is otherwise sovereign debt of Portugal, Italy, Spain, Greece and Ireland, some of which will undergo a double-digit discount."We had to find a way to take into account the sovereign risk. It is a lesser evil to the extent that the market is really scary is the risk of default, "commented Alex Koagne, analyst at Natixis Securities. "The double-digit discounts for PIIGS (Portugal, Italy, Ireland, Greece and Spain), it is not very impressive. Greek debt is already dealing with a discount of about 20% of the market, "he added.

Tuesday, in a very quiet market, the indexes have climbed throughout the day to reach a closing up 2.73% over 3400 points. A rebound reflecting the high volatility of recent weeks: Monday again, the CAC 40 was approaching its lowest level this year.

Elsewhere in Europe, even movement.The Frankfurt Stock Exchange evolves decline of 1.27% to 5865.20 points while the FTSE index down 1.26% to 4902.70 points.

On Wednesday, investors in Paris after their Asian counterparts who chose to take profits. For its reopening after a weekend of three days, Wall Street gave no signal, calling instead for caution with a fence unconvincing in the green.

In terms of indicators, the trade deficit of France has risen sharply to 5.5 billion euros in May from 4.258 the previous month due to a decline in exports, according to data released by Customs. Economists had expected on average a deficit of 4 billion euros.

Also note that according to a recent estimate of the European office of statistics Eurostat, euro zone economy grew 0.2% in the soft first quarter.

Moreover, the German industrial orders fell for the first time this year in May, 0.5% from the previous month, according to figures released Thursday by the Ministry of Economy. Economists interogés by Reuters on average expected a rise of 0.5%.

The car in the viewfinder

As for values, the auto sector should move on Wednesday. Peugeot has announced an increase in worldwide sales of 16.9% in the first half. The title of the group climbed 0.14% to 21.60 euros.Furthermore, Peugeot would invest 700 million euros to resume production project in India, reports the Wall Street Journal.

For his part, Renault (-0.34% to 31.02 euros) which must publish its results tomorrow, Thursday trading.

Sodexo (-0.80% to 47.22 euros) released before the market turnover with 11.54 million euros in the first nine months of the year. The group is an organic growth of its turnover for the full year 2009-2010 of about 2% and hope to achieve an operating profit of between 780 and 800 million euros excluding currency effects the exercise.

Meetic (-0.99% to 19.90 euros) announced Wednesday to build on an EBITDA margin of between 20 and 25% for 2010, unchanged from its 2009 goal.The leading European dating sites also said that synergies from the integration of Match.com, the first since last June, should reach 10 to 15 million euros in the first year.

Atos Origin (-1.34% to 32.33 euros) announced Tuesday the launch of new services known as "smart mobility". The services company led by Thierry Breton makes 850 million euros in turnover in the field of electronic transactions and placed on the strong growth in use on smartphones.

Like its American and Asian counterparts, and after a timid rebound on Wednesday the Paris Stock Exchange began the session this Thursday in sharp decline. The CAC 40, which has started on a decline of 1.63% to 3386.79 points, has rapidly accelerated its fall to yield more than 2%. Less than half an hour after the start of trade, the key index in Paris fell by 2.10% to 3370.45 points, before giving further 1.46% in mid-day at 3392.59 points.

The excitement is palpable. The loans outstanding of the European Central Bank to banks reached a record high Wednesday, above the threshold of 900 billion euros, while financial institutions must reimburse to the ECB on Thursday of 442 billion euros funds a year. A true test, highly anticipated by the markets.We'll know if banks are able or not to repay their loans.

It has also learned that the banks have borrowed 111.2 billion euros in six days with the European Central Bank (ECB) as part of a special operation that indicate a withdrawal of money market funds. What is not reassuring, as this could lead to higher interbank interest rates.

The loans outstanding of the European Central Bank to banks reached a record high Wednesday, above the threshold of 900 billion euros, while financial institutions must reimburse the ECB on Thursday of 442 billion euros of funds one year. The threat of Moody's notes the degrade of Spain crystallize attention throughout the day. The U.S. credit rating agency put the sovereign rating of Spain under surveillance.Moody's points to weak growth prospects of its economy.

Moreover, the adoption in the United States House of Representatives by the financial sector reform, discussed for months, will attract the attention of investors. The new legislation will include Washington's financial institutions restructure in bankruptcy, for failing to conduct further rescue operations financed by the state. The powers of the Federal Reserve (Fed) are expanded, a monitoring of the sector is expected and will give consumers more protection.

Hedge funds and rating agencies will be subject to more stringent regulations.The text must be approved by the Senate next week before being signed by Barack Obama.

In terms of statistics, INSEE announced this morning that producer prices remained stable in France in May after rising 1.0% in April, but they recorded an increase of 4.3% over year.

Moreover, in the euro area, the manufacturing sector recorded in June the slowest growth in four months. PMI final Markit purchasing managers stood at 55.6 in June In France, the PMI fell to 55.8, its lowest level since December 2009. In Germany, it remained stable at 58.4.

Overseas, the jobless claims will be released at 16 hours and the promise of home sales and the ISM index of manufacturing activity.Indicators highly anticipated before the release this Friday of U.S. employment figures.

The car in the viewfinder

In terms of corporate value is not in the green in the morning.

EADS shares (-2.34% to 16.47 euros) will be particularly followed. Indeed, the WTO has imposed a setback scathing EU ordering him to remove certain export subsidies provided to Airbus. The Union will appeal the decision of the World. Financial details have not been disclosed. Boeing believes that the pan-European aircraft manufacturer must pay back $ 4 billion of undue subsidies. But the WTO has put forward any figures, it will be difficult to see clearly the consequences of the decision of the international organization.

Moreover, the numbers of registrations in France will be unveiled on Thursday at noon.They finally fell 1.2% in June. In addition, the phasing of the scrappage scheme does not allow a glimpse of the market recovery in the immediate future. Renault (-2.27% to 30.08 euros) would be the big winner in first quarter sales thanks to its built by Dacia Sandero. Peugeot was down 2.42% to 20.55 euros, while Michelin loose 1.97% to 56.59 euros.

Out CAC40, Faurecia (-1.66% to 13 euros) has unveiled the acquisition of 18.75% of the Chinese automotive Xujang Group, where he became the strategic shareholder.

Bank stocks should also once again hold the attention of investors with the repayment of a loan of 442 billion euros on Thursday. A year ago, in 1121 established banks in the euro zone had borrowed over 442 billion euros at the ECB at a fixed rate of 1%, a record in the history of European monetary institution on a single transaction.Credit Agricole lost 3.09% to 8.36 euros. It is followed by BNP Paribas (-1.85% to 43.940 euros) and Societe Generale (-1.55% to 33.770 euros).

The Société Générale will be more monitoring than the AMF (AMF), Wednesday imposed a fine of 100,000 euros to Jean-Pierre Mustier, former head of market activities of Societe Generale for failing to initiated.Conversely, Natixis has been exonerated by the AMF following an investigation into his financial disclosure.

Shareholders will also be sensitive to the decision of Saint Gobain (-0.70% to 30.680 euros) to repay 72.1% of the 2009 dividend in shares to allow the group to consolidate its equity by 368 million euros.

In addition, the Sanofi-Aventis (-1.95% to 48.565 euros) may react to the decision of the U.S. Food to MultEQ, an arrhythmia drug cons of the French group on the quarterly list of audits.

France Telecom (-0.95% to 14.150 euros) will also be under the spotlight. The operator presents its new internal business plan