The era of good times is over. China, which for years received lessons in economic policy by the United States, primarily relating to foreign exchange, takes revenge. While S & P has to sacrifice the triple A of the United States, Beijing, the largest holder of U.S. bonds in the world – by far, with 1,160 billion of U.S. Treasuries in the drawers according to figures from Washington published last May – now estimated to have "every right to require U.S. to address their structural problems of debt."
The Chinese government estimates that S & P has only confirmed a "horrible truth". One that was highlighted by the rating agency Dagong China, which has degraded the U.S. triple-A immediately after the agreement to raise the debt ceiling.She said "the days of Uncle Sam, crippled with debt, could easily squander endless amounts of borrowing from abroad seem numbered. (…) In order to treat his addiction to debt, the U.S. must restore the principle of common sense that we must live within its means. " For Dagong, the note of the United States increased from A + to A with, again, a negative outlook. According to the official Xinhua news agency, the adoption by Congress of a text to avoid a default of the United States failed to defuse "the bomb of debt." This failure to control U.S. borrowing could affect the "well-being of hundreds of millions of families in the United States and abroad," she lamented a few days ago.
In other countries, tempers
In France, Baroin, Minister of Economy, trying to reassure.First European official to respond to the thunder of the deterioration in the sovereign rating of the debt of the United States, he ensured that France "has full confidence in the strength of the U payday loans with no fax.S. economy and its fundamentals, and in the U.S. government's determination to implement the plan that was approved by Congress this week. "
Japan, the second creditor of the United States, said that its policy of buying U.S. bonds remained unchanged despite lowering their score. "Our confidence in U.S. Treasuries and their attractiveness as an investment will not change because of this action," said a Japanese government official told Dow Jones Newswires.Japan, which is trying by all means to curb a flight of its currency against the greenback, has no interest in selling its dollar assets for now since it would only strengthen the yen.
In South Korea, senior officials of the Ministry of Finance held an emergency meeting Saturday to analyze the consequences of the downgrade. But the government has warned against overreaction. "We need not be too worried about our economy and financial markets," said Deputy Finance Minister Yim Jong-yong. An Australian Prime Minister Julia Gillard has also called for calm markets. "At the same time, the other two major agencies, Moody's and Fitch continue to note the U.S. economy AAA. So I think people need to consider all the facts, "she said.In the Philippines, a spokesman for the Presidency said that the downgrade by S & P was "to some extent a wakeup call for the U.S. begin to seriously address their economic problems. We have confidence in their ability to do so. "
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CEO of TF1, Nonce Paolini, confirmed that he filed with the Higher Audiovisual Council an application for free for its continuous news channel, LCI. He stated that the free market is the right thing for news channels. "There is room for three news channels," he said in a conference with analysts. The television group should indeed file with the Higher Audiovisual Council a request to enter the free streaming news channel, LCI and BFM TV come and compete, owned NextRadio TV and i-TV, that of Canal +. But even before this request may be made, TF1 is already under the spotlight.
The subsidiary of the Bouygues group has indeed provided a strong rebound in net income increased 60% in first half year on year, to 118.6 million euros.As for further cost reductions, the television group posted a net increase in operating income over one year, 78.6% to 186.5 million euros. The cost of the grid of the TF1 channel has in fact declined by 482.6 million euros to 423.6 million. Good performance hailed by investors since the title was climbing to 11 hours of 6.80% to 13.59 euros, the largest increase in the SBF 120. One of its main competitors, M6, which must also publish its results on Tuesday but after-hours trading, climbing from 0.77% to 15.74 euros. Meanwhile, the Cac 40 was down 0.57%.
This policy of cost reductions initiated since 2008 had been welcomed on Friday by the U.S. rating agency, Standard & Poor's, which had raised a notch note of the group, believing that these savings would result in a better rentatibilité easy payday loans.The TF1 group has recorded a marked improvement in its operating margin, which has doubled in a year to reach 18.8%. "These statistics confirm, quarter after quarter, the effectiveness of measures taken to change positively the economic model of the group" welcomed the television group, which has however avoided giving details of its profitability target medium term.
Advertising revenue, "no particular concern" (Paolini)
In contrast, sales of the TF1 Group, which owns the Eurosport channel, TMC or LCI, fell slightly from 0.5% to about 1.3 billion euros. "Unlike last year, TF1 did not broadcast major sporting events (like World Cup soccer)," the statement said.Before the analysts, Nonce Paolini said he did not have "specific concerns" about the evolution of advertising revenue. The group is pleased to return to growth in advertising revenues in the second quarter (+0.7%) after a decline of 2.6% over the first three months of the year. Of all the activities, the advertising revenue shows an increase of 4.7% to 905.2 million euros. "The group remains more than ever mobilized to consolidate its leading position in the field of information and entertainment on the TV market and / or free," says TF1.
This slight decline in sales, however, makes the television group cautious about the stability of the whole of 2011. It evokes a persistent lack of visibility on the changing conditions.
The CAC 40, which is ironed Thursday to above 4000 points, failed to show a third straight session of gains. At the close, the CAC 40 index shows a sharp decline of 0.92% to 3990, 85 points. aaccentué market downturn after his decision known to the rating agency Fitch lowered the rating by three notches from Greece.
For the week, the CAC declined slightly by 0.70%.
Ala London Stock Exchange, the FTSE-100 ended with a slight decline of 0.14%, while the Stock Exchange Frankfurt, the Dax 30 shrank more sharply by 1.26%.
On the macroeconomic front, the deficit of the balance of current accounts in the euro zone rose to 4.7 billion euros in March, against 6.5 billion euros in February, according to preliminary figures released Friday Bank European Central Bank (ECB).
The euro continues to rise
This fragile economic environment in the United States enjoys the euro continues to rise, albeit less strongly in mid-session, against the dollar. In one week, the single currency rose to 1.4272 dollars from 1.41 dollars.
In midday trading, a barrel of oil, light sweet crude for June delivery gained 0.65% to 99.57 dollars.
Siemens will pay 648 million euros Areva
Sanofi-Aventis: -1.28% to 54.04 euros
The anti-arrhythmic Multaq group Sanofi, marketed in France since October 2010 and currently reimbursed at 65%, is threatened with delisting, but the final decision remains subject to such a hearing of the laboratory, according to La Tribune.
Areva: 1.59% to 30.63 euros
Areva must be "within fifteen days" a check for 648 million euros from Siemens, according to an arbitration Thursday by the International Chamber of Commerce. The group with the Executive Board is chaired by Anne Lauvergeon accused the German group for its commitment with the Russian Rosatom even before he uttered his divorce with the joint venture Areva NP.
GDF Suez: -1.19% to 26.09 euros
On the corporate side, an employee of GDF Suez made a suicide attempt on May 14, immolation by fire.The framework of management information systems from Lyon is currently in critical condition.
Vallourec: -1.13% to 86.91 euros
Bollore sold two thirds of its stake (3.5%) in Vallourec for 275 million, pocketing a profit of 141 million euros.
PPR: +0.25% to 121.85 euros
PPR "take the time necessary" to make acquisitions and divestitures, "said CEO Francois-Henri Pinault, during the group's general assembly yesterday.He added that the luxury group still holds 42% stake in CAM after its IPO in late 2009.
Suez Environment: -0.32% to 15.37 euros
Suez Environment has confirmed its objectives for 2011, an increase of more than 5% of turnover and over 10% of gross operating income.
Biomerieux: 2.33% to 77.38 euros
Biomerieux will acquire the control specialist microbiological industry AES Laboratoire for 183 million euros. Under the strategic plan 2015, BioMerieux is an annual organic growth in sales of 7 to 9% on average.
Pierre & Vacances: 1.55% to 54.36 euros
Pierre & Vacances buys 50% of managers of tourist residences Citéa a subsidiary of Nexity. The transaction amount was not disclosed should be finalized in late June
May
6
The NYSE Closing Thursday in dark red. The Dow Jones loose 1.10% to 12,584.17 points in the final gong. The Nasdaq lost 0.48% to 2814.72 points and the S & P dropped 0.91% to 1335.08 points.
An unpleasant surprise has fallen on the macro: new jobless claims rose sharply during the last week of April. The day earlier, figures from the firm ADP showed that job creation in the private sector had slowed in April, below analysts' expectations. Two ads ominous before the highly anticipated monthly report on employment and unemployment, American, expected tomorrow, Friday.
Non-farm productivity and unit labor costs have gone unnoticed.Productivity, which measures hourly output per employee grew at an annual rate of 1.6% over the period January-March after rising 2.9% (revised from 2.6%) in the previous quarter. Over the period, the unit cost of labor has on his side rebounded 1.0% after having fallen by 1.0% (revised from -0.6%) over the last three months of 2010. Analysts had forecast an increase of 0.8% in the first quarter.
Plummeting oil
These indicators have led to lower oil prices. On the New York Mercantile Exchange (Nymex), the price of a barrel of light sweet crude for June delivery broke down the psychological barrier of $ 100 for the first time since mid-March.It closed at 99.80 dollars, a plunge of 9.44 dollars compared to the previous day (-8.64%).
On the foreign exchange market, the European single currency falling, it strongly against the dollar after the ECB decided to keep interest rates unchanged. The euro is trading at 1.4529 dollars at the close of trading, having again exceeded $ 1.49 during the meeting Wednesday.
Intel and Advanced "historic"
The side of values, the raw materials sector was suffering just like Exxon Mobil (-2.55% to 82.65 dollars) and Chevron (-1.86% to 102.73 U.S. dollars)
Moreover, the media group News Corp quick payday loans. (+0.06% to 17.35 dollars) announced a quarterly profit of 639 million, against 839 million a year ago. Turnover is a decline to 8.26 billion dollars against 8.79 billion dollars last year.The group had enjoyed last year's commercial success of Avatar, analysts said Aurel BGC. And they say, the release of "Rio" should support the profits of the current quarter.
For its part, the Texas chain Whole Foods Market (+0.35% to 59.95 dollars) has announced a 33% increase in its quarterly profits to $ 89.9 million. Turnover was up 12% to $ 2.4 billion. Comparable store sales were up 7.8%. Positioning the dispenser on a high-end clientele limit sharply the impact of rising gasoline prices on consumer behavior of its customers.
The publisher of games, Electronic Arts (8.84% to U.S. $ 21.68) announced a profit of 151 million against 30 million last year.Turnover was up 17% to 995 million.
Facebook and Google (-0.28% to 534.27 dollars) would, each in turn, is negotiating a possible takeover of Skype, or a substantial stake.
World number one Intel microprocessors (+0.47% to 23.61 dollars) announced Wednesday a new advanced "historical" in the history of microprocessors.Result of ten years of research, the new 3D transistor ultra-powerful mobile devices will provide more capacity while using less battery.
An internal investigation of the U.S. cosmetics group Avon (-5.24% to 28.73 dollars) discovered possible cases of corruption among its employees not only in China but also Brazil, Mexico, Argentina, India and Japan, said Wednesday the Wall Street Journal.
General Motors (-3.21% to 31.98 dollars) on Thursday posted a profit more than tripled in the first quarter, thanks to the recovery of the U.S. market and strong sales in Asia, but the prices of its vehicles were disappointed analysts.
The International Monetary Fund (IMF) wants cautious. While the Portuguese prime minister resigned, Jose Socrates, said Tuesday night that sealed a "good agreement" with the delegations of the European Union and the International Monetary Fund, the international organization said that the opposition has yet to agree .
In fact, using 78 billion over three years granted by the tandem European Union and IMF is not without consideration. In exchange for this support, the EU and the IMF require an "adjustment program" consisting of austerity measures "ambitious" and structural reforms involving the major parties beyond the next parliamentary elections of June 5 The agreement with the current Prime Minister has resigned is not enough. It will be supported by the main opposition parties.A spokesman for the IMF confirmed yesterday it had signed a technical agreement with the Portuguese government on a comprehensive economic agenda also said: "We said from the beginning that it is important that any program can receive a broader support of parties and we will continue our discussions with opposition parties to achieve it. "
Portuguese Prime Minister had announced earlier in the evening the conclusion of an agreement to support a $ 78 billion over three years. José Socrates had indicated that his country is committed to gradually reduce the deficit to 5.9% of GDP this year, 4.5% in 2012 and 3% in 2013. Portugal had previously committed to reduce its deficit to 4.6% this year to 3% in 2012 and 2% in 2013. The imbalance of Portuguese public accounts in 2010 amounted to 9.1% of GDP, well beyond the target of 7.3% from the government.But he said he could not reveal "a lot of details" on measures that Portugal will commit to implement in exchange for this budget, because they must still be "consultation "with opposition parties.
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The Apple boss has booked a nice surprise to his fans. When he was announced to be on sick leave for six months, and rumors that the dying announced, Steve Jobs is onstage drama of San Francisco (California, western United States). Acclaimed, he then introduced the second version of the iPad tablet computer. The tablet computer keeps the same price, between 499 and 829 dollars (between 359 and 597 euros) depending on version. The iPad will be sold to two metastable United from 11 March and 26 other countries, including France, Canada, Germany, Switzerland, Belgium and Japan, from March 25 business card design.
Despite his illness, Steve Jobs, who appeared thin, has not lost his sense of humor and vitality. "Almost 15 million iPads sold in nine months in 2010. It's more than any tablet PCs ever sold, "he quips."It's been quite some time that we worked on it and I did not want to miss a great day," said Steve Jobs. He still survived pancreatic cancer in 2004 and a liver transplant in 2009.
Steve Jobs introduced the second version of the iPad.
This is called an agreement snatching! A few hours of the end of the summit of G20 finance ministers of the richest countries of the world have finally reached an agreement on how to measure global economic imbalances. "It was not easy," acknowledged the French Finance Minister Christine Lagarde, who spoke of the discussions "frank and sometimes tense no fax cash advance." "But" fruitful "in the end.
The player has to use default in the articles of figaro.fr. maj1
French justice had the heaviest hand for the former boss of Vivendi, Jean-Marie Messier, his American counterpart, which had acquitted a year ago. After eight years of investigation and trial on one of the most sensational bankruptcies in recent years in France, the court ruled on Friday, the fate of Jean-Marie Messier, spent two years at the helm of the General Waters, he transformed into a giant media and led to the near-bankruptcy in 2002.
"Incomprehensible" and "profoundly unjust"
This icon of French capitalism in the early 2000s has indeed been sentenced this afternoon to a term of three years suspended sentence for "spreading false or misleading information" about the financial health of the group, and "abuse of social good. "It also scoop a fine of 150,000 euros, and shall indemnify dozens of small shareholders of Vivendi cheated by the rout of the telecommunications group. It was however acquitted of the third charge, "price manipulation" of Vivendi. He has already indicated through his lawyer that he will challenge this decision on appeal. The former CEO of Vivendi Universal judge in a statement to AFP that decision "incomprehensible" and "profoundly unjust"."One year after the decision of the American jury unanimously declaring myself not guilty, the verdict rendered today by the French criminal justice, nearly 10 years after the fact, I find incomprehensible," he said.
Behavior "prestidigiteur debt"
"Jean-Marie Messier has adopted towards the market behavior of real 'magician debt' behavior that could at most be detected by analysts and financial professionals (…) but certainly not by individual shareholders, which this communication was also addressed and which could only be deceived by its abbreviated and misleading, "reads the ruling.
Justice did not spare the closest collaborators of Jean-Marie Messier. Edgar Bronfman Jr., chief executive of Warner, was sentenced to fifteen months suspended sentence and five million euro fine for insider trading.His former right hand man and chief financial officer of Vivendi Universal, Guillaume Hannezo, was handed his side a penalty of 15 months suspended sentence and a fine of 850,000 euros. Eric Licoys finally, former deputy director general of the group, was sentenced to six months suspended sentence.
Messier admits mistakes but no offense
Jean-Marie Messier has already indicated through his lawyer that he will challenge this decision on appeal. He admits indeed have made mistakes but no offense. The former boss, 54, and grants, the Wall Street Journal: "I was young, I've said too much and I became a symbol." Whatever the Horns of Canal + J6M nicknamed (for Jean Marie Messier, Myself Master of the World) even regretted his "arrogance" at the time. But beyond its mismanagement, Jean-Marie Messier also challenges a softer environment.He recalled that the bursting of the dotcom bubble and September 11 were particularly devastating for the values of the new economy traded.
He especially insists he did not deliberately sought to mislead analysts and shareholders. "Some of my decisions in the management proved wrong, but a fraud? Never, Never, never! "He says. And he points out the flaws in the file. The indictment for abuse of social good based on a negotiated golden parachute … but never touched. As for price manipulation, it acknowledges the massive purchase of Vivendi shares after the attacks of Sept. 11, but in order to protect the business speculators.His defense has also appeared for a time be satisfied that the prosecution had asked for his release, believing that he did not deliberately sought to mislead analysts and shareholders.
The association of small shareholders assets (APPAC), a civil trial, was on his side on Friday welcomed the "great victory for French justice, up to the expectations of shareholders."
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In a statement issued following an interministerial meeting on the situation in Tunisia, the Elysee said he had "taken steps to ensure that suspicious financial transactions involving assets in France are blocked Tunisian administratively under the law" .
Paris "is available to the constitutional authorities to respond promptly to any request on Tunisian assets in France," the statement said the French presidency.The statement did not explicitly cite the case of ousted President Zine El Abidine Ben Ali, but it's him and other members of his clan who seem concerned.
A U.S. diplomatic telegram released by Wikileaks published by the daily Le Monde calls a "mafia" family of former president and said that corruption exists at the highest level of government with bribes, kickbacks, expropriation, robberies, extortion …
Appellant also "to calm and end the violence, France has also requested" the organization of free elections as soon as possible "in Tunisia, claiming to be ready to" respond to any request for assistance to the democratic process is conducted in the most compelling ".
Recalling the principle of "non-interference in internal affairs of a sovereign state," Paris said at last bring a "strong support" to the Tunisian people in its "commitment to democracy."
(With AP)
Downward adjustment. INSEE revised its growth figures for the second and French third quarter below what it had previously measured. Between April and June, the economy grew by 0.6% against 0.7% estimated earlier, and 0.3% between July and September, against 0.4%. The downward revision for the third quarter results "including the revision of indicators of business services and public works (…) and indicators of personal services," noted INSEE.
In the third quarter, "domestic demand (…) again contributes positively to growth in gross domestic product (GDP) this quarter," noted INSEE online payday advance. Consumer spending has accelerated over the period, at +0.5% against 0.3% over the previous three months. In contrast, business investment grew more slowly (+0.5% after +0.9%).
Household disposable income as calculated by INSEE has grown faster than the second quarter at +0.9% against +0.8% previously. An evolution that can record a slight acceleration in purchasing power (+0.7%).
The Bank of France expects a growth of 0.6% in the fourth quarter. Over the full year 2010, the French GDP to grow by 1.6%, according to Insee.