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.
Although there is no major publication of Monday, the growth of imports and Chinese exports significantly exceeded expectations in December, boosts the confidence of investors on Wall Street where the Dow is up 0.19% to 10,638.30 dollars and the Nasdaq 0.34% in 2323, $ 85.
Oil opened sharply higher in New York also boosted by the good figures of China and its growing interest in the black gold that has even reached a new high since October 2008, 83.95 dollars. The barrel of "light sweet crude was trading at 83.52 dollars against 82.75 cents Friday.
The euro continued to rise against the dollar Monday, settling beyond $ 1.45.Vers 15h, the euro bought 1.4528 dollars against 1.4404 dollars on Friday.
Friday, despite the bad figures of unemployment and consumer credit in the U.S., the Dow Jones gained 0.10% and 0.75% on Nasdaq.
Alcoa (2.47% to 17.02 dollars): the group must publish its fourth quarter results after the close, signaling the start of the earnings season.
Delta Airlines (-1.20% to 12.32%): A source close to the case reported Sunday that any decision on a possible partnership of Japan Airlines, with one of two U.S. airlines could be taken that after the inauguration of a new management team.
Citigroup (0.97% to $ 3.63) Prince Alwaleed bin Talal, owner of Kingdom Holding and shareholder of the U.S. institution said Monday he expected a "stabilization and profitability" for the bank in 2010.
American Express (-1.20% to 41.43 dollars) the shareholders of financial services group should halve their position on the title after the sharp increase since March, believes the stock market weekly Barron's in its latest edition.
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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Oct
27
The good news of the day there doing nothing. The Paris market was unable to maintain the upward course of the opening. He finished in the red, sealed by the misdirection of Wall Street in early trade. Between the quarterly expectations of higher U.S. giants Microsoft and Amazon, and up 9.4% of resales of existing homes across the Atlantic to its highest since July 2007, there were nevertheless subject to rejoice. But after the recent record annual markets need to blow and the arrival of the weekend favors profit taking. In addition, uncertainties remain about the timetable for recovery.
Paul Volcker, former head of the Federal Reserve, said that "recovery is rather slow, too slow to reduce unemployment quickly."He said more manufacturing production and exports would be the best medicine to prescribe, rather than increased consumption for overcoming the crisis.
Moody's Investors Service said that if the U.S. failed to control its public finances, they could lose their Aaa sovereign rating by three or four years. The budget deficit reached 1.417 billion dollars (944 billion euros), representing 10% of GDP for the period ended September 30 and the current administration anticipates deficits of more than 1,000 billion dollars the next two years.
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Bank stocks were the first places trust the document acknowledging the success of increased capiral BNP (2.09%).The group said said its capital increase of 4.3 billion euro, launched in late September to reimburse the aid of the French state, has been oversubscribed to the tune of 2.5 times. The demand was about 10.9 billion euros. Societe Generale jumped 1.6%. Credit Agricole gained 0.45%.
motor values were also well oriented after trimestriesls exceed the expectations of the Swedish Volvo. Renault took 1.65% and 1.4% Peugeot.
The turnover of Saint-Gobain (+1.51%) in the third quarter amounted to 9.720 billion euros, down from 13.9% at actual exchange rates. In nine months, he stood at 28.435 billion euros (-15% at actual exchange rates).
Danone (-0.84%) reported a turnover of 3.78 billion euros in Q3, up 4.1% in comparable data.The group expects growth in sales on a comparable close to 4% in the second half.
Prime Minister of Belgium Herman Van Rompuy, announced in Parliament that a Memorandum of Understanding was signed between the Belgian State and GDF Suez (-1.44%) on an annual contribution from 2010 to 2014, to be located between 215 million and 245 million euros in return for extending the operation of nuclear plants.
The cost of voluntary separation scheme, proposed by Air France-KLM (+0.04%) and on 1684 people, would rise between 150 million and 160 million euros, La Tribune reported Thursday on its website.
Jean-Marie Messier, the former boss of Vivendi Universal will meet before the Correctional Court of price manipulation and abuse of social goods.The title Vivendu lost 0.71%.
Home chilly for the results of Havas and Icade
Havas fell by 6.97%, signing the biggest decline on the DRS. The group posted revenue of 326 million euros in the third quarter. The band recorded 1.131 billion euros in net gains on budgets nine months, including 328 million for the third quarter.
Icade lost 0.22%. The real estate group achieved a turnover of 1.089 billion euros at September 30, down 5.5%.
In the first nine months of 2009, Areva (unchanged) shows sales of 9.7 billion euros, up 4% on a comparable basis.
Ingenico (-0.39%) now provides an annual turnover of between 6% to 8% compared to pro forma revenues of 780 million euros in 2008.It previously expected a decline of between 4% and 8%.
Inter Parfums has announced a turnover for the third quarter 2009 unchanged at 72.8 million euros.