While Apple has announced record results, its rival Nokia, struggling for three years, falls into the red for the second time in its history. The Finnish manufacturer has issued Thursday a net loss of 368 million euros for the second quarter 2011, against a profit of 227 million euros a year earlier. This is the second negative result after the historic loss for the third quarter of 2009.
Nokia, which has an alliance with the U.S. Microsoft to launch phones to counteract the rapid expansion of the Apple iPhone and Android smartphones system (Google), is in turmoil trying to trace the slope.The giant had announced in April the elimination of 4,000 jobs and the outsourcing of another 3,000 due to the phasing out of its own operating system Symbian for the benefit of the Microsoft Windows Phone.
"The difficulties we face in our strategic transformation have arisen more than we expected in the second quarter of 2011," said Nokia CEO Stephen Elop. "But I think our actions to limit the impact of these difficulties began to show positive effects on the health of our business.In addition, we make better progress than expected to achieve our strategic objectives, "he said payday advance low fees.
Job cuts
The Canadian leader, who came to Microsoft last September to address Nokia, however, indicates that "competitive pressure" that is currently experiencing will continue.
In the second quarter, Nokia posted a further decline in sales of 7% to 9.28 billion euros. If he remains world number one by volume, the number of phones it sold plunged 20% to 88.5 million units, against 111 million a year earlier.Its joint venture with Siemens, the supplier Nokia Siemens Networks (NSN), has negatively affected the result with an operating loss of 111 million euros.
In May, Nokia warned that its second quarter results were worse than expected and now that he would not give targets for the full year. The group, which employed the end of June 138,800 people (75,000 at Nokia Siemens), said yesterday that it will "accelerate" its savings plan through "several sources", including job losses and departures replaced.
Thursday late afternoon, the action gained 1.27% to 4.14 euros, but fell below the euro for four mid-July, it operates at its lowest level since 1997.
The New York Stock Exchange opened Friday at equilibrium in a market cautious before the release of economic indicators closely watched in the United States: the Dow Jones nibbled 0.02% and the Nasdaq 0.06%.
The day before, now, Wall Street had closed on an open rise, encouraged in this direction by the Chicago PMI – and the relief felt on both sides of the Atlantic after the second vote in Parliament in Greece. Voting allows the application of the austerity plan as expected, and the release of 12 billion euros in aid to Athens.However, the agreement of the Eurogroup surl second aid plan, expected this weekend, take a little longer than expected, according to diplomatic sources.
U.S. Policy and Debt
Another current, more American and more uncertain, however, could be followed by operators, mindful of the political context, while U.S. debt back on the front of the stage: the Secretary of the Treasury of the United States Timothy Geithner, in fact, consider soon resign from his post. Information reported yesterday by the Bloomberg financial news agency and other U.S. media, but qualified this morning.
Consumption, construction and industrial activity
In terms of macroeconomic indicators, the first session of July will be charged at least: from 3:55 p.m. will be provided the figures for consumer confidence, ahead of construction spending (16:00).At the same time will be announced on PMI manufacturing (ISM), and the indicator of prices paid. It will however wait until 23 hours to see the statistics of car sales unsecured personal loans.
$ 4.5 billion for Nortel patents
On the corporate side, the maker of BlackBerry phones Research In Motion (RIM), leaving 0.07% after the announcement yesterday of an agreement avoiding, at the General Meeting of July 12, the vote of a motion challenging the operation of its management. Turbulent in recent times, the action RIM has tumbled almost 41% in one year, closing at 28.85 dollars Thursday on the Nasdaq, while the S & P 500 gained at the same time 28.55%.
Apple, Research in Motion and Microsoft, however, are part of a group of six companies that got their hands on the latest patents of the telecoms equipment maker Nortel.The acquisition represents $ 4.5 billion (3.10 billion euros), after an auction that has ruled Google and Intel.
EMC Corp., and Sony Ericsson are the other members of the winning consortium, Nortel said in a statement released Thursday night. Telecommunications giant to the Internet bubble burst, Nortel filed for bankruptcy in January 2009 and has since liquidated most of its assets, raising about $ 3.2 billion.
In any other industry, General Mills (-0.83% to 139.42 dollars) announced Friday the completion of the acquisition of half of the yogurt maker Yoplait, which he was the franchise in the United States. General Mills bought for about $ 1.2 billion (830 million), with the investment fund PAI Partners and the cooperative Sodiaal, 51% stake in Yoplait SAS and 50% of the entity holding world Yoplait brands.
A race against time. On Monday, the French stage will present at the National Rugby Marcoussis, before the DNACG (National Directorate of assistance and management control) financial guarantees as to the survival of the Parisian club, after the fraud case linked Facem the Canadian Foundation (Foundation for the Improvement of children in the world).
Still two million find
The figure is known, the French stage has a deficit of 6 million euros to be filled Monday. Bernard Laporte would have found new investors. But after the spectacular failure of Facem, the pool of investors formed by the Englishman Richard Pool-Jones, former player for the club, has also been reactivated, with the help of Serge Kampf, CEO of Capgemini and a great patron of rugby French, and former international Jean-Pierre Rives.The DNACG, before which the Parisian club had already presented in May, is now more demanding, it expects 12.6 million euros in guarantees, in the amount that would normally Facem injected. The round of Pool-Jones would have raised 8 million – the amount initially met – and another 2 million could be saved by reviewing the operating mode of the Parisian club. Remains yet to find 2 million euros to avoid the gauntlet of the "financial policeman" of French rugby. The question is which of the two solutions will be chosen.
A bloated workforce that will have to degrease
Ironically, the missing 2 million in the plane of Pool-Jones correspond to expenses incurred in recruiting high-end by the French stage version which had Laporte on 20 million euros pledged by the Facem but are never arrived.
A total of 19 players have committed to the Paris Club, including the Argentine Felipe Contepomi, New Zealand's Byron Kelleher and Paul Sackey English free instant credit score. The wage bill had increased to 8 million euros. Another nod, the signature of South Africans Mostert and Van Zyl was announced just minutes before the revelation of the scam. Tuesday afternoon, already aware of the shock, the agents were in turmoil, many trying to resettle their foals outside the capital. Obvious: we'll have to degrease the mammoth. Pascal Pape and David Attoub could rebound in Lyon, recently promoted to Top 14. Bastareaud, who wishes to engage with Toulon but is retained by Bernard Laporte, will get the proper output in the coming days. Mourad Boudjellal, the president of RCT, intention, however, take advantage of the situation. "The first thing that the French stage recovers.I prefer to renegotiate with Max Guazzini and Bernard Laporte in top form in this situation. I really do not want to take advantage, "he said Friday in Var Matin.
Laporte, a return that is like a slap in the face
It would revive the French stage, it could remain who precipitated his fall. Without money from the Facem (three related to this foundation have since been placed in custody), there is nothing. Former Secretary of State for Sport has played with fire. He has left € 170,000 under the guarantees. Salagoïty Francis, former president of the Bayonne where "Bernie" was a brief passage, drives the point home in South West: "Everyone will understand that my apprehensions were based on Bernard Laporte." The only way to bounce back is that the new rescue plan is adopted.In either case, it is rumored that Serge Kampf would not want to hear about it …
Equity markets leave the U.S. before Wednesday. The Dow Jones is 0.81% at 12,049.92 points, the Nasdaq climbed 1.03% to 2666.90 points and the S & P 500 rose 1.03% to 1284.90 points. On Monday, U.S. markets, which started in the green, finished on a stable tone, troubled by a further deterioration of three notches of the rating agency in Greece by S & P.
In contrast, Asian stock markets rose in unison this morning, buoyed by the announcement of the Bank of Japan keeping its policy rate close to zero to support the growth of the archipelago.
Following the sharp market declines in recent weeks, investors are looking for bargains on Wall Street. Moreover, mergers and acquisitions announced in the U.S. market in recent hours also seem to encourage investors.
On Monday, the textile group VF Corporation, which owns the brands Wrangler, Jeansport or The North Face has announced that he wanted to buy the specialist outdoor Timberland valued $ 2 billion. For its part the packaging producer Graham Packaging said it received a takeover offer, higher than that of Silgan Holdings, which was to acquire for $ 4.1 billion and the industry group will buy Honeywell for $ 491 million of its fellow EMS Technologies specializes in telecommunication tools for aeronautics.In reinsurance, Transatlantic Holdings will merge with its rival Allied World Assurance Company Holdings, to give birth to a giant valued around $ 5 billion while the group of fast food Wendy's will separate chain Arby's to a consortium formed by Roark Capital Group for 430 million dollars.
USA: first drop in retail sales since June 2010
The producer prices slowed their rise in May to 0.2% from the previous month according to figures released Tuesday by the Labor Department, but this increase was higher than expected.It is nevertheless the first drop in retail sales since June 2010.
Retail sales in the U.S. fell less than expected in May, 0.2%, driven by a sharp drop in auto sales, indicate figures released Tuesday in Washington by the Department of Commerce quick guaranteed personal loans.
On the foreign exchange market, the euro continues to rise against the greenback at 1.4448 dollars against 1.4413 dollars late Monday. For their part, oil prices were progressing on Tuesday at the opening in New York, a barrel of benchmark gained 32 cents to 97.62 dollars.
Apple pays royalties to Nokia
Avis Budget: 5.70% to 16.87 dollars
The side of values, announcements of mergers and acquisitions continue to grow.The American Society of Avis Budget Car Rental Avis Europe will buy for about 636 million pounds in cash (723 million), announced on Tuesday the company, which hopes to increase its presence in emerging markets with high growth like India and China.Avis Europe, currently owned 59.6% by the Belgian robertlipinski, operates the Avis and Budget brands, and operates in Europe, Africa, Middle East and Asia.
Apple: 1.17% to 330.42 dollars
World number one mobile phone, Finnish Nokia, said Tuesday that its U.S. rival Apple agreed to pay royalties to settle all their disputes over its use of several technologies patented by Nokia.
Citigroup: 0.46% to 39.35 dollars
For its part Citigroup announced Tuesday it had sold 1.5% stake in the Indian mortgage specialist Housing Development Finance Corp., lifting 160 million dollars before taxes. This sale brings to 9.9% from Citi in HDFC.It takes place before the adoption of new prudential regulations Basel III.
NYSE Euronext: 0.67% to 34.56 dollars
Representatives of the trading platforms NYSE Euronext and Deutsche Börse have defended on Monday its proposed merger with U.S. lawmakers.
Also note, Facebook could be valued at over $ 100 billion at its IPO, which could happen by early 2012 CNBC. The record IPO will be filed this fall. The valuation of the company was estimated at 50 billion dollars in January when she was lifted to $ 1.5 billion from Goldman Sachs.
For the 9th consecutive year, the Great Place to Work Institute (GPTW) publishes its list of the companies in which to work in Europe. With a small change this year: the two traditional classifications of societies and more than 500 employees, has added the business called "multinational". Test required to integrate this category have been nationally ranked "business in which to work" in at least three countries.
Filed in 16 countries throughout Europe, Microsoft wins first place in the top 25 multinational companies. The U.S. computer giant is closely followed by two compatriots: the biotechnology company Amgen (Applied Molecular Genetics) and the food group Mars.
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
Memory market on Friday, 13 has little impact on markets, even if Friday, October 13, 1989 took place a minikrach. In real estate, however some have difficulty leaving their superstition on the shelf.
The "Paraskevidékatriaphobia (phobia 13) deprives many American buildings 13th floor, and many palaces room or table 13. In the UK, according to a British website, Zoopla, an apartment of less than 300,000 euros, at number 13 of a street, would sell for an average of 4000 pounds (4593 euros) less than 12 or 14 .
The 13 does not however run the streets: 28% of UK streets do not. It has often been cleared between 11 and 15, or disguised in 11a. In Paris, there are not 13, rue du Faubourg Saint-Honore, since the Empress Eugenie decided. But when they exist, the numbers 13 are not cheaper than 15 or 11.
In Orpi or Féau is remembered buyers have waived a house not quite "feng shui", but not because of 13. Citing statistics, the Notaries of Paris confirms: "For the No. 13 tracks, there is no special discount. Parisians do not seem superstitious! "Neither the address nor the floor … in the Montparnasse tower does have a 13th.
The weak dollar gives momentum to the barrel
Last week, things had begun badly for oil. First S & P warns on U.S. debt. Then, the Saudi oil minister who says the market is "supplied in abundance." A statement also expressed by the secretary general of OPEC, Abdullah El Badri, during the weekend. "If OPEC is ready to say this is that there must be a lot of oil on the market," observed Rich Ilczyszyn, Lind-Waldock to justify the price decline that day, to 107.12 dollars per barrel of light sweet crude for May delivery in New York and 121.85 dollars in London.
But on Tuesday, the dollar's sharp fall came to give a fillip to trade. The U.S. currency fell to its lowest level since January 2010 against the euro, which climbed to over $ 1.46.Such movement makes the crude in dollars more attractive to buyers provided with other currencies. Prices ended the week (shortened due to Easter) to 112.29 dollars in New York (five dollars between Monday and Thursday) and 124.38 dollars in London.
This reversal of trend, which intensified throughout the rest of the week, is also due to concerns over the situation in Nigeria. The political situation is very tense in the wake of presidential elections. The outgoing Head of State Goodluck Jonathan was proclaimed winner, an announcement welcomed by deadly riots. However, the country's largest producer of black gold of the African continent. "Its oil is also a substitute for oil in Libya. If production losses in Nigeria also intervened, this would result in a shortage of high quality oil, "commented analyst at Commerzbank.
In the background, geopolitical tensions in the Middle East kept the risk premium allocated to oil prices. The clashes were continuing in Libya between rebels and forces loyal to leader Muammar Gaddafi, while calls to demonstrate continued in Syria and Yemen.
Base Metals
Aluminum, LME superstar
The overall weakness of the dollar pushes investors to put their money in other commodities as oil to protect against loss of value of their assets. Base metals have therefore also benefited.
Aluminum is the winner of the week. Prices went up to 2,750.25 dollars per tonne, its highest since August 2008. In addition to the weak dollar, they have benefited from the announcement by China, a halt to aluminum smelting capacity to regulate the excess production.To recall, China supplies 40% of world production.
Copper closed up to 9610.50 dollars, also carried by the fundamentals, including partial closure of the Grasberg mine in Indonesia, one of the largest in the world. Lead and nickel are also mounted, respectively, in 2669 dollars and 26,650 dollars per tonne.
Overall, all have benefited from bargain hunting after declines the previous week. Investors LME smile again while U.S. quarterly results suggest good prospects for the request.
Precious metals
Gold and silver shine a thousand lights
As for precious metals, the context is more than favorable to gold paydayloans. Dollar depreciation, inflation if oil prices rise, fears about sovereign debt: everything was done to allow the yellow metal spraying his record.This was done on Thursday with one ounce to 1509 dollars. The highly anticipated threshold of $ 1,500 has been reached and even exceeded. Two options stand thus: either investors consider this remedy as an objective in the long term, they see it as a threshold for some benefits may be recovered. The following weeks will be decisive. Meanwhile, on the London Bullion Market, gold price finished Thursday at 1504 dollars at auction in the afternoon.
In its wake, the money has jumped 8% and surpassed $ 45, the highest since 1980. Thursday ounce traded at 46.32 dollars even. What makes investors fear the emergence of a speculative bubble that is expected soon to explode. In this case, a correction to $ 38 is possible.
For their part, the PGMs were down earlier this week because of fears surrounding the automotive industry in Japan.The loss of production in factories in Japan since March 11 totaled 500,000 vehicles, and could reach one million, according to experts at the Shanghai Auto Show. The sector is also affected worldwide. Prices have bounced back this weekend, buoyed by the buying frenzy because of the weak dollar. On the London Platinum and Palladium Market, an ounce of platinum finished Thursday at 1812 and an ounce of palladium ended at $ 765.
Agricultural materials
Coffee and wheat are skyrocketing
Last week, the price of coffee stood out, rising to 302.50 cents in New York, a level not seen since 1977! At issue: the prospect of reduced supply from major producing countries. In Brazil, in particular, should disrupt weather crops.In this context, and with a weak dollar, investors have not hesitated to take positions. On the NYBOT, ICE, the pound of Arabica for May delivery ended the week at 286.60 cents in New York while robusta ended at 2408 dollars in London.
Always on the side of good performances, a bushel of wheat (25 kg) for July delivery has earned 7% on the week on the Chicago Board of Trade. In the poor quality of U.S. wheat (according to the latest weekly report from the U.S. Department of Agriculture, only 36% of winter wheat is considered "good" to "excellent", against 65% last year to the same period ) and the drop-off in Russia, came by the drought in several parts of the world. The weather is dry in the American plains but also in Western Europe, Canada and China.A bushel of wheat therefore ends up at 8.3475 dollars.
In contrast, maize is affected by severe disturbances in the central United States. The contract for corn rose to 7.4450 dollars, while a bushel of soybeans for July climbed to 13.8975 million.
In fifty years, two times more dependent elderly. This is the perspective that traces the working group on "demographic and financial issues, set up by Roselyne Bachelot to prepare the reform of addiction. Projected that this group, led by Jean-Michel Charpin, study Tuesday afternoon, holding it in effect a "middle scenario" leading to rise from 1.15 million addicts in 2010 to 2.3 million in 2060 (being considered as dependent persons entitled to the allowance APA, according to current criteria for the award).
Enrollment growth would be 2% per annum by 2017-2020, then 1.1% per year until 2030 (period when the cohorts born in 1930 will reach the age of dependency), then 2% between 2030 and 2045 (the baby-boomers) and 0.6% per year thereafter.These figures are higher than the latest official forecast, prepared in 2005 by the Center for Strategic Analysis. "Three factors explain the discrepancy, details Roselyne Bachelot. First, the start of the APA faster than expected. Then, the latest forecast by INSEE, which increased the proposed number of seniors. "In half a century, France has 5.4 million over 85 years. "Finally, it was betting up to that every year of life expectancy gained would be a healthy year, says the Minister of Solidarity. It seems that this traditional view is rather trite and does not hold in recent years. "
This scenario, so far "predominant" is now considered "optimistic."However, the opposite idea (gains in life expectancy would result in full by a lengthening of the duration dependence) is not in the heart of the simulations of the working group, although it is mentioned in a "pessimistic scenario" payday loans. The main scenario is based on the assumption that the proportion of dependence-free life expectancy to 65 years in total life expectancy at age 65, will remain stable. Currently, life expectancy at age 65 is 22.5 years for women, 19.1 years without dependence (85%). It would increase to 27.6 years in 2060, including 23.4 years without dependence, 4.9 years gained healthy (85%). And, therefore, 0.8 year older in a state of dependency.For men, life expectancy at 65 years falling from 18.1 years currently, with 16.7 years without dependence (92%), of which 21.7 years to 23.6 years without dependence.
Evaluate the probabilities
"While some questioned the usefulness of new projections or accused the President of the Republic of catastrophism, nobody can say" everything is going very well, Madame la Marquise,''said Roselyne Bachelot. We have a scenario in which the political decision to meet. "The minister nevertheless admits:" No one can certify that these assumptions will be realized fifty years.Maybe we'll have a vaccine against Alzheimer's! But the horizon of political decision, it is ten years and, unfortunately, we are almost certain that there will be no vaccine by then. "
Work will continue over the coming weeks, especially to better assess the probability and consequences of extreme scenarios that lead to this point a very wide range, from 1.85 to 3.15 million addicts in 2060.
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After two lean years, chemical production in France is recovering. Between price increases – about 5% – and the rebound volumes (+10.8%), the turnover of the sector in 2010 grew 14% to $ 77, 1 billion euros. First industry affected by the crisis, the Chemistry is also one of the first to emerge. French chemistry has benefited last year from "improving global economic conditions" and bounce "in the industry, especially with the end of destocking and the return of the application, said Olivier Homolle, President Union Chemical Industries (UIC).
Some sectors such as soaps, perfumes and cleaning products have benefited more than others, including organic chemistry, rather breathless last year.But the movement should continue at a slower pace of around 3% in 2011, provides for the UIC.
Back acquisitions
The recovery is also evident in terms of margins. "They benefited last year cost reductions generated by the severe crisis and back to rising raw materials," says Peter Gadrat, director of chemistry and metals within the consultancy Alcimed. Enough to allow chemical manufacturers to raise cash and to engage in acquisitions. After a series of acquisitions announced since October – activities resin Total Arkema for 550 million euros, Chinese Feixang Rhodia Chemicals ($ 489 million) – the movement is probably far from over.
"The chemical industry is still very fragmented.The approximately behemoths – BASF leads the game with a turnover of 63.8 billion euros represent little in a sector that weighed 1.87 trillion euros in 2009, "said Pierre Gadrat. Future operations should be fairly targeted medium. Because "chemists have money but not an urgent need for new growth."
Two strategic
The companies focus on two strategic axes. They seek to increase their presence in growth sectors such as food and health, the image of the American DuPont announced in December the acquisition of Danish Danisco for $ 6.3 billion. The industrial sector also intend to strengthen in emerging markets. "There are huge needs in basic chemistry in Asia, particularly in polymers," says Edward Croufer, director of global chemical with the firm Arthur D Little.This should change the mapping of the major players. Edward Croufer expects that by 2015, the world leader should return to Saudi Sabic, along with German BASF and India's Reliance.
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