AIG makes another important assignment. Delayed several weeks due to fiscal problems, the giant American Insurance American International Group and MetLife onday announces an agreement under which AIG will sell its branch at MetLife Life Insurance Alico for the equivalent of 15.5 billion, the Wall Street Journal.
The acquisition will be for $ 6.8 billion in cash and approximately 8.7 billion shares in MetLife.
Alico, and the Asian subsidiary of Life Insurance American International Assurance (AIA), had enjoyed a special status, allowing AIG to make these two assets as compensation and thus reduce the debt of the insurer to the Reserve U.S. Federal (Fed), although both companies are still controlled by AIG. This also allowed AIG to prepare these two subsidiaries for sale or an IPO.
At the edge of the termination payment in mid-September 2008, AIG was bailed out by the U.S. government who had to inject over 180 billion dollars in its coffers to keep the group afloat, the government now owns 80%.
AIG will make 32 billion dollars by the Fed
MetLife believes that the acquisition would boost earnings by 45 cents to 55 cents per share by 2011.Analysts expect 2011 operating earnings per share of 4.89 dollars.
With the sale of Alico, and after the agreement last week to sell its Asian branch of life insurance, American International Assurance, for 35.5 billion dollars to the group Prudential, AIG could make the Fed's New York 32 billion in cash in the coming months, if both operations are looped as expected by the end of 2010, says the WSJ.
AIG should also repay 19 billion dollars more in coming years, when he sold his shares in MetLife and Prudential.
The meeting of finance ministers of the G7 in Iqaluit, in Canada's far north, was the occasion for the great silversmiths to see the convergence of their views against banks."We agreed to work together to ensure that financial institutions bear the cost of their contribution to the crisis", stated the host of the meeting, Canada's Jim Flaherty.
Since the end of 2009, projects of exceptional taxation of banks have flourished, in various forms and with different objectives: punitive tax here, contributing to the effort there, insurance premium paid in exchange for the implied warranty given by the States financial institutions or other taxation of bonuses to limit the activities deemed most dangerous … In Britain and France, is a tax on the bonus above 27 500 euros, which was established. In the United States, Barack Obama wants to apply to larger banks a fee to bring 90 billion dollars in ten years.Now, the bond G7 will legitimize future draft taxation.
Meanwhile, the seven finance ministers, according to American Tim Geithner, reaffirmed their commitment to finding "by the end of this year a consensus on new prudential standards that apply to banking. The Ministers again stressed their higher requirements for capital.
Nearly 500 000 per person
Faced with this increased range of governments, banks are beginning for some, to put water in their wine payday loans no teletrack .This determination in policies comes at a time when financial institutions close their accounts in 2009 – boosted by the profits on contracts for some, undermined by the loss of their portfolios of assets and doubtful debts for other . Also in that time that banks put the last comma on the bonus amounts distributed.
Although it became the symbol of a financial world that have returned to practices before the crisis, Goldman Sachs has chosen to keep a low profile. The bank is number one on Wall Street, announced this weekend that its CEO Lloyd Blankfein would affect "only" $ 9 million for 2009, entirely in shares. This bonus is not only less than half that received by his counterpart at JPMorgan, Jamie Dimon, for example.It is particularly small in comparison with wild rumors that had circulated a week ago: there was talk then of 100 million dollars!
In 2009, Goldman has made a net profit of 12.2 billion dollars, the same as that earned in 2007 a record year for finance. Employees at large will share more than 16 billion dollars in bonuses in various forms, about 500 000 dollars per person. But thirty frames the higher will be paid in shares, they can not sell before five years.
The world of microprocessors confirmed Thursday after-hours trade, in a statement, the resumption of its activities, with net income nearly tenfold in the fourth quarter, which allowed him to limit to 17% decline in annual net profit , to 4.369 billion dollars.
The results of the last quarter of the year have exceeded expectations: the group of Santa Clara (California, western United States) posted a net profit of 2.282 billion dollars during the three months ended December 26.
Based on the number of shares and excluding special items (ie without taking into account the $ 1.25 billion paid to settle the prosecution of rival AMD), the benefit amounts to 55 cents, where analysts' s until 30.
Earnings per share annually, to $ 1.17, also exceeded expectations (67 cents expected), as the turnover quarterly and annual: respectively 10.569 billion dollars (+28%, 10.17 billion dollars were expected) and 35.127 billion dollars (-7%, against 34.73 billion expected).
Finally, forecasting sales of the current quarter, between 9.3 and 10.1 billion dollars, should be higher than predicted by analysts (9.35 billion dollars).
The way Intel has won, Thursday, 2.34% at the close of the New York Stock Exchange, after rising nearly 2% Wednesday ..
The message is clear: "It's a test, as we realize many in our restaurants and we do not communicate on the tests. This is hardly the teams in the chain of fastfood confirm the information already given by the press. It must be said that full debate on national identity, Quick fears may be amalgams and passionate reactions. The chain of fast food tested so discreetly, since November 30, sale of hamburger meat halal certificates in support-eight of its 350 French restaurants. The market is booming in France, carried by a growth rate of over 10%. Five million French regularly consume these products, and turnover of the sector reached four billion euros in 2009, well ahead of the "organic" and its 2.6 billion results.
Eight restaurants tests
The experiment should last a few months, six by the daily Le Parisien, and on fast-food Argenteuil and Garges-les-Gonesse in the Val d'Oise, Yvelines Buchelay in Marseille, Toulouse, Villeurbanne in Roubaix and the Rhone.
The question of extending the dissemination of these new products to other restaurants in the Hexagon will decide only after the test "if the commercial interest of the offer and its technical feasibility is confirmed" says Quick. The use of halal meat and non-halal in the same kitchens that require good logistics. Quick would be the first major chain to enter the niche. McDonald's, the number 1 burger, confirmed that he had not yet put in place similar project.
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Last year at the same time, the French automobile factories were preparing to enter into a long hibernation. Most sites of PSA Peugeot Citroen and Renault have lowered the curtain for a month between December and early January. This year, thanks to scrap premiums introduced in Europe, the activity is markedly increased compared to the end of 2008 disaster.
The contrast is particularly clear in PSA, although the production levels of 2007 are still far away. Overall, the French manufacturer's sites will close down between Christmas and New Year's Day for the traditional week of vacation. The group enjoys the success of new models like the Peugeot 3008 or 206 + products in France. Only the plant in Rennes, specializes in upscale, undergo three days of partial unemployment in December.In total, the production of PSA increase of 33.6% in the fourth quarter 2009 over fourth quarter 2008, but remain in decline of 10.2% over the same period in 2007.
Renault also later, production was resumed. The group includes the diamond increased by 50% worldwide in the last quarter compared to 2008. But as the activity of plants was reduced by 45% this time last year, the manufacturer has not regained its pace of two years ago.
Partial unemployment in 2010
If the situation returned to normal on most sites the French Diamond, Douai and Sandouville turn even slow this season. The plant Sandouville near Le Havre, close to the total one week in early December, then to three weeks between December 19 and January 8.After discontinuation of the Vel Satis, it assembles more than the Laguna and Espace, penalized by the penalty green.
He has sold only 30 000 Laguna in France in the first ten months of the year (- 32%) and Area 7 100 (- 27%). Employees are worried, because on this site, where 1 300 jobs were eliminated recently, the assembly of a new model, a utility vehicle, which will begin "in the first half of 2013," said Patrick Pelata Friday, the CEO of Renault, and not, as previously announced, in 2012. Other affected site, Douai, in the North, which makes the Megane Scenic MPV. It will stop more than three weeks from December 17 to January 11.
For 2010, Renault do not expect a return to normal.The manufacturer provides on average 45 days of partial unemployment in its French factories, against 50 to 60 days in 2009, said Friday the CGT, relying on information management. The only consolation, according to an internal agreement, employees of Renault partial unemployment has reached 100% of their salary this year.
This caution is linked to cessation of car scrapping or reducing them next year. The sales may still decline by 6 to 8% in Western Europe in 2010 after an expected decline of 5% in 2009, according to rating agency Fitch Ratings.
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A new tool to better meet in the jungle of tariffs. The National Ombudsman of Energy on Thursday launched a comparator offers, available on-site www.energie mediateur.fr. Totally independent providers, the service proposes to compare the various offers of electricity and natural gas, according to several criteria: annual price, type of proposed tariff (set by the state or not) or the share of renewable energy included in the tender. And the service is not superfluous. Two years after opening to competition of the energy market, the French are still struggling to find their way. Almost two thirds (58%), unaware that they can indeed leave EDF and GDF Suez, according to an LH2 poll, conducted for the Ombudsman and the Commission for Energy Regulation (CRE). And they are 77% did not know how to switch suppliers.
13,000 claims in 2009
In addition, the mediator of energy is overwhelmed by the claims: 13,000 in 2009, a tenfold increase over 2008! Rates opaque, or billing errors in the meter are the problems most often encountered by consumers. Hence the interest to compare this development which was attended by most energy suppliers at the national level: besides the two heavyweights EDF and GDF Suez, six other energy providers nationally have said yes to proposed: Direct Energy, Planet Yes, Poweo, Alterna, GEG Source of Energy and Altergaz. Only Enercoop declined the offer, saying that this tool does not put enough value in the specificity of its offer, according to the Ombudsman's services.
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The phone market "obile continues to suffer. The decline continued in the third quarter, according to preliminary figures from Strategy Analytics. Worldwide sales have declined 4% to 289.5 million units in the third quarter.