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United-Continental: merger approved

admin — Mon, 30 Aug 2010 05:24:55 +0000

Washington announced Friday it had cleared the merger between United Airlines and Continental Airlines. The Department of Justice indicated that the two U.S. companies had responded to his objections to their merger, leaving a number of slots for landing and takeoff at Newark International Airport near New York.

Downstream Europe in July

United Airlines, the third American company, Continental Airlines and fourth, had announced in May their intention to merge under the single name of United. The European Union, the guardian of competition in Europe, had already given its approval to the transaction at the end of July. In a statement, Brussels stated that his investigation confirmed the complementarity of the two companies' networks for Transatlantic routes, since they operate hubs in different U.S. cities."So there will be a marginal increase in market share," concluded the European Union. But a refusal of the United States was to be feared, as authorities in 2001 vetoed a previous merger between United Airlines and U.S. Airways on the grounds that it would reduce competition in the transport sector to the detriment of the public.

Fusion 1 October

The U.S. Department said it had closed its investigation as a result of the merger between the two companies, which gives them the field libre.Dans a statement, the two companies said they expected to complete their reconciliation of by 1 October. By marrying, they hope to better withstand the difficulties faced by the industry today, including the rising cost of fuel and competition from low cost airlines.Together they serve 370 destinations in 59 countries, with a combined turnover of 29 billion dollars, a fleet of nearly 700 aircraft and about 87,000 employees worldwide.

China, the world's second largest economy

admin — Sun, 01 Aug 2010 21:26:39 +0000

The crisis has played a role in accelerating power for China. Faced with the slowdown in traditional engines of the planet are the U.S. and Japan, the People's Republic sees himself propelled to the rank of second largest economy, instead of his neighbor nippon, but still far behind the United States. "China is already the second biggest economy, has said over the weekend Yi Gang, director of the State Administration of Foreign Exchange (SAFE), in charge of foreign exchange controls.

In an interview with the magazine China Reform and accepted by the site of the Safe, Responsible merely formalizes what everybody expected this year. The calculation is done quickly. In late 2009, the gross domestic product (GDP) of Japan 5070 billion was already closely followed by that of China, to 4980 billion.With an expected growth of 9.5% throughout the year and 11.1% in first half against less than 3% for its neighbor, the Middle Kingdom has probably exceeded that of the Rising Sun between April and June And this, ironically, even as the country tries to avoid overheating. Manufacturing production slowed further in July for the second straight month, thanks to measures limiting credit growth and real estate speculation.

The Chinese authorities do not brag with their new status as world's second largest economy, since many challenges remain before inevitably take the top spot in a couple of years, according to the World Bank. "The problem of China's economy is the quality of its growth.Why we must proceed with structural adjustment and transform our business model, "said Yi Gang, referring to the refrain that government consumption has to take over investment and exports as an engine of growth.

The gap will shrink

This ongoing concerns prompt the government to closely monitor all aspects of the economy, starting with the very sensitive political exchange. Referring to the convertibility of the yuan, Yi Gang made it clear that no timetable had been arrested. China becomes the heir of the world economy without having an international currency.

But Beijing is still more to paradoxes, mixing the issues of developing countries with those of a rich country. Imbalances continue to widen between rural and urban, rich and poor.Before he finished his economic metamorphosis, the Middle Kingdom is already old. Today, six active contributors per pensioner, they will be more than two in 2040.

In fifteen years, GDP per capita – U.S. $ 3,600 in 2009 – will probably still not caught up with its rivals, with $ 42,000 for the United States and 37,800 in Japan. But the gap is very narrow. Yi Gang expects Chinese growth between 7% and 8% in the decade ahead.

The Paris Bourse revives the decline

admin — Thu, 01 Jul 2010 19:25:26 +0000

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

In 2008, the average wage amounted to 2069 Euros

admin — Thu, 10 Jun 2010 13:15:17 +0000

Despite a decline in GDP since the second quarter of 2008, wages continued to rise this year at a faster pace (+3.6%) than in 2007 (+3.3%) as Figures released Thursday by the INSEE. One thing, however, tempered by the high level of inflation in this period, 2.8%, which surfaced in much of the improvement obtained by the employees. The average net wage rises in 2008 to 2069 euros net per month.

At that time, the labor market is however already the stigmata of the crisis. The structure of employment has changed, at the expense of the unskilled and temporary, in favor of executive employment and women. The average wage of workers benefiting from the decline in unskilled employment, and also recorded a significant increase resulting from indexing the minimum wage to inflation.In total, workers recorded the most favorable trends with an increase of 1.3% in constant euros.

Executives recorded the largest decline

While the average net salary of employees remains stable, that executives cash the largest decrease (0.7%) partly due to the importance of the variable component in wages. The sectors of finance and real estate are suffering most from the crisis in 2008, it is true after a sharp rise in wages in finance in 2007.

It is finally noted that while women's wages grew less than men (0.5% against 0.9%), thus widening the gaps in pay between the sexes, female employment is more resistant, particularly because of the strength of the service employment.

The CAC 40 should enjoy the status quo

admin — Wed, 07 Apr 2010 08:36:49 +0000

At the close Tuesday night, the CAC 40 gained 0.49% to 4053, 94 points, while that Wall Street investors were taking a break, despite the confirmation of the retention by the Fed to lower rates , between 0% and 0.25%, and has been d?bembre 2008.

On Wednesday morning, Asian stock markets are moving in the positive. This early morning, the Bank of Japan also announced that it retained its interest rates to 0.1%. The World Bank, East Asian development is driving the global economic recovery, but these countries need reform to enjoy sustained growth. The institution expects an increase of 8.7% of GDP in the area in 2010.

Rich economic news

Side Europe, INSEE and ISAE Ifo and its equivalents, will unveil their outlook for the second quarter of the year.At 11 hours, the GDP of the eurozone in the fourth quarter of 2009 (third estimate). At the same time, will be published the second estimate of the composite PMI services for the month of March, and prices for industrial production.

In the U.S., weekly stocks of crude oil will be reviewed by financial operators. Oil is quite stable in anticipation of these figures, but quickly approached $ 87 in recent days. Investors anticipate a rise in global demand. The Qatari Minister of Energy Abdullah al-Attiyah said Tuesday that it was not necessary to bring OPEC to discuss soaring prices at the highest in a year and a half low rate payday loans.

At 19:30, the Fed chairman, Ben Bernanke, will speak on "Economic Challenges past, present and future.A speech certainly scrutinized closely in the wake of its decision on rates. Any change of address would be taken seriously.

Finally, at 21 hours, the figures on consumer credit in the U.S. in February.

Using concrete for Renault and Daimler

The Franco-Japanese alliance Renault-Nissan and Daimler, the German manufacturer Mercedes and Smart have announced equity cross-holdings of 3.1%, and a broad industrial partnership. The Renault shares surged 3.86% to 36.87 euros at the close yesterday.

Carrefour prepares to leave Portugal, reports Le Figaro. The retailer will start selling the 524 hard discount stores it operates in this country under the banner Minipre?o.Their turnover has reached 915 million euros in 2009.

Rentabiliweb Specialist monetization of online and offline audiences, today announced it won a bidding group France Televisions in order to monetize the sites hearings France Televisions Interactive.

Deinove today launches his bid for the purchase of shares. Offer clot April 20 and the first titles will be on the Paris stock exchange – Alternext – from April 21. The "greentech" hopes to raise from 12 to 15 million euros in the financial markets to fund its research.

Maurel and Prom will publish its annual results after-hours trade.

AIG to sell Alico subsidiary MetLife for more than 15 billion dollars

admin — Tue, 09 Mar 2010 01:58:42 +0000

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.

Wall Street supported by China

admin — Tue, 12 Jan 2010 06:30:13 +0000

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.

Quick quietly testing its halal burger

admin — Wed, 16 Dec 2009 16:51:57 +0000

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.

Weekend in the red in Paris

admin — Tue, 27 Oct 2009 13:00:47 +0000

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.

Automobile and banking Featured

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.