Wall Street has accelerated its rise. After opening up 1.14%, the Dow Jones is 2.23% at 10,237 points. The Nasdaq climbed 2.60% to 2166 points while the S & P grants itself 2.48% at 1076 points.
This renewed confidence followed the publication of a higher-than-expected ISM index of manufacturing activity. It stood at 56.3 in August against 53 expected and 55.5 in July. This good news comes in addition to that from China. China's manufacturing sector posted a modest rebound in August, after a slowdown in several months. The two purchasing managers' index (PMI) monitored by the markets, the bank HSBC and the Chinese federation, are rising. The index of the China Federation of Purchasing and Logistics rose from 51.2 in July to 51.7 in August. The index of the HSBC bank stood at 51.9 in August from 49.4 in July.
However, bad news side of employment fell before the opening. The private sector in the United States against all odds has destroyed 10,000 jobs in August, according to the monthly survey firm specializing EPA. Economists and analysts predicted instead of new posts with 19,000 new jobs expected on average for the month of August. The July figure was also revised downwards and now shows 37,000 new jobs, 42,000 cons first announced.
These figures give a first overview of the situation on the labor market before the official figures on Friday.Concerned about the fragility of U.S. recovery, the White House announced Tuesday it was preparing a new economic stimulus package it will announce in the next few weeks.
Moreover, construction spending fell more than expected in the U.S. in July, 1% from the previous month, falling to their lowest level since July 2000, according to figures released Wednesday in Washington by the Department of Commerce payday advance low fees.
Apple waited for his iPod
On the side of values, the U.S. computer giant Apple (1.50% to 246.79 dollars) would reveal an updated version of its iPod portable.Apple has emailed his invitations for a special event that day, Wednesday, September 1, revealing virtually nothing other than the date and place, the Yerba Buena Center in downtown San Francisco.
The online store Amazon U.S. (1.71% to 126.96 dollars) trying to launch a service that would give customers who pay a subscription service unlimited access to television and movies via the Internet, says The Wall Street Journal on its website.
Also according to the Wall Street Journal, the group of Burger King Holdings (11.64% to 18.37 dollars) plans to sell and has been in discussions with the aim of possible buyers. Burger King, whose market capitalization is $ 2.3 billion (1.8 billion euros), is the stock exchange since May 2006.The group was previously held by groups TPG, Bain Capital and Goldman Sachs had bought British drinks group Diageo in 2002 to 1.5 billion dollars. The newspaper, Britain's 3i is among the candidates concerned.
Always on the side of values, the British oil giant BP (2.50% to 35.70 dollars), listed on Wall Street, announced this morning that it would sell its interests in petrochemical operations in Malaysia to local group Petronas, for 363 million dollars.
Several companies are announcing results including the HJ Heinz food group (-0.85%) and Brown-Forman (-6.66%), the maker of Jack Daniel's whiskey.
Also note, the U.S. Federal Reserve (Fed) approved Tuesday the purchase by the Chinese sovereign fund China Investment Corporation (CIC) of 10% of the voting rights of the investment bank Morgan Stanley (0.74% to 24.85 dollars).
What the cash advance is designed for is to cover temporary financial difficulties without damaging your credit score.Aug
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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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Nothing like that to go talk with the best of the class to get some good ideas. On Tuesday, French Budget Minister Francois Baroin went to Berlin to meet Wolfgang Schäuble, the German finance minister, but Otto Fricke, a spokesman on budgetary matters of the FDP, the party with which the CDU and CSU have formed a coalition. Up for discussion: the prospects for public finances, the convergence of tax systems and the EU budget.
"A very good news for France"
To say that the budgetary comparison is not in favor of France. So that France should post a deficit in 2010 of 8% of GDP, Germany could be below the 4.5% forecast until now. The German public finances are benefiting from the strong economic recovery.For now, the government of Angela Merkel sticks to hard line: any additional revenue related to growth must not be redistributed as tax cuts, but must be used to reduce the deficit. "There is a consensus in German society about deficit reduction, welcomed Baroin.
One way to be disappointed that this is not the case in France, while the government has decided to be as strict on the surplus revenue? In any case, Baroin wished to emphasize that the dynamism of Germany "is also a very good news for France, because it is our first partner." But no question of imitating unrestrained economic model Germanic."We, we focused our policy on power purchase them on the productivity gains through wage moderation," said the Minister.
Despite their differences, both countries are working to converge their taxes. The site was launched in July by Nicolas Sarkozy, Wolfgang Schäuble when was attending a Council of Ministers in Paris. By late September, the Court of Auditors will issue a preliminary report on the subject. His conclusions will inspire action that will be incorporated when considering the draft budget law to Parliament.
Fight together against the tax leakage
Regarding the tax system, harmonization would be quite happy for the French since Germany has removed the ISF. "But we must see if it is relevant," temperate Baroin.Indeed, both governments are working primarily on other taxes: the ecological tax, VAT and corporation tax (IS). Paris and Berlin in particular want to fight together against the flight tax that allows the development of the Internet. The major manufacturing groups chose to localize their headquarters in a country of the Old Continent as low tax Ireland and arrange to channel all their European business.
In addition, French and German governments want to raise, at European level, the project to harmonize the basis of calculation of corporate tax (IS). Today, each country has different rules for determining taxable income, which confuses the issue.
Finally, Paris and Berlin will work hand in hand for the European budget does not slip.The Brussels Commission initially proposed that the budget of the European Union increased 4.9%. The European Council has succeeded in getting the increase is limited to 2.9%. To meet this objective, Baroin account in addition to the support of London.
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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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.
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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The Elysee is the only institution in the Republic to see his accounts peeled annually by an independent body, in this case the Court of Auditors. And Nicolas Sarkozy himself who requested the monitoring. Obviously, this regular audit is bearing fruit. The Court of Auditors, who presented this morning's report on fiscal year 2009, noted that the recommendations made last year have been acted upon. Thus, the cost of studies and surveys that had hit the headlines, has been reduced by 45% in 2009. Similarly, the bill for the garden party fell 30% last year.This year, the problem is solved since this event did not happen! The ECA is also pleased that an inventory of furniture and objects from the Elysee has been launched and the residences of Rambouillet, Marly-le-Roi and Souzy La Biche, not used by the president, have been transferred Authorities competent to cheap credit report.
Rest areas for improvement. The magistrates of the Rue Cambon point especially travel. Delegations are too many, especially in travel preparations. Media coverage of these trips is more expensive: 465,000 euros in 2008, 1.06 million euros in 2009. The development of a special press room for the president at the G20 Pittsburg and cost a whopping 25,000 euros! The bill for the meal trays in an aircraft is surprising: 120-160 euros per person.Moreover, the Court of Auditors estimated that the restoration at the Elysee is too expensive. On both issues, the Elysee is committed to making improvements, including reducing by 10% in three years enrollment in the restoration.
The declaration of Didier Migaud, president of the Court of Auditors, to reduce expenses in the operation of the Elysee:
After only eleven of the twelve adminisitrateurs group had agreed in December last year, Accor shareholders adopted by an overwhelming majority (88.49%) splitting the group into two separately listed companies, at the end of a general meeting. A project that was focused by the fund Colony Capital and Eurazeo, who hold 30% stake between them. Conversely, he had raised questions with the Strategic Investment Fund (ISF) for which the merger was "too risky".
Gilles Pelisson "very happy"
The announcement pleased the markets because at the Paris Bourse, the Accor share gains 2.40% to 42.29 euros in a market down by 2.75%. She also meets Gilles Pelisson, CEO of the group: "I am very happy," he said after the vote.It simply means that the split is an idea that has much meaning.
During the meeting, issues of Accor shareholders have not dealt with the proposed demerger, except on technical tax issues.
One of the two entities retain the name of hotel and Accor, and the other called Edenred, takes over the prepaid (Ticket Restaurant, Ticket-food, gift certificates, Kadéos, Cesu …). On July 2, the two entities will be listed on the Paris Bourse. Consequence: during a trading session, the CAC 40 will be 41 values, do so before qu'Edenred index on July 5.This separation was made possible by the extensive development of the service arm that has doubled in size in four years and can become autonomous, "said Gilles Pelisson, Accor's CEO.
Technically, the division will lead the purge of the old order book Accor shares at the end of the meeting on 1 July instant payday loan. Shareholders who wish to sell their securities or those who wish to buy must act before July 2.On Friday, the shareholders of the "old" Accor will receive one share of "new Accor" Edenred plus one share for one share of the "old" Accor held.
For the CGT, the group only wants to make money on the stock market "
If this decision was thus obtained a plebiscite among directors and shareholders in Accor, this is not the case with employee unions, who see the split as a "dismantling of the group." They fear that the sale of hotels – Accor is to sell 450 hotels in the coming years – should lose benefits to employees.
In an open letter to shareholders of the Accor group, wrote that the CGT split "plunge the company and its employees in difficulty.""This is not for the good of the company that the group is divided by two, but only to make money on the stock market," says Angel Romiti, Secretary General of the Federation of the SGC services. Accor aims to open 40,000 rooms per year in France.
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The nightmare continues for BP. The oil group announced Friday that its expenses related to the oil spill in the Gulf of Mexico have now reached 2.35 billion dollars (about 1.9 billion euros). This amount includes all expenses incurred by the operations of oil recovery and cleaning the coast since the beginning of the disaster but also the drilling of relief efforts, aid already paid to the residents affected and the damage already returned to federal authorities . This Friday at the London Stock Exchange, investors punish: shares tumble from -6.84% to 303.10 pence in late morning. Their lowest level in 14 years.
This new drop is more than 50% during the collapse of the oil company since the sinking of the platform in late April Deepwater Horizon.Meanwhile, five-year CDS BP increased by 19 basis points to 555 points, according to Markit.
The fall in prices has been sharp end of April, when the collapse of the platform.
A few days after the publication of a sales soaring and better than expected, Ghosn perfect its operation seduction. The CEO of the automaker, which suffered heavy losses last year with 3.1 billion euros of losses, it is one of the most important sector, pledged on Friday at the annual Shareholders' return in the green "no later than 2011.
A challenge for the "cost killer" at Nissan, whose re-election as head of French carmaker should, except surprise, be endorsed. Five years after its accession to the presidency of the group, the economic conditions in 2010 should however be difficult.The scheduled shutdown of the scrappage scheme in particular, should not contribute to boost the profits of Renault.
To find the flexibility brought by the loan of 6 billion euros granted by the state earlier this year, Ghosn has also committed to the shareholders to repay that money more quickly than expected, it ie before the year 2014. "We will refund well before the deadline and we will refund if possible in concert with our friends at PSA," he said as well.
The manufacturer expects to have the freedom again to close and installing production units it wants to reduce its costs. One recalls the intervention of Nicolas Sarkozy to prevent the complete production of the Clio in Turkey …