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.
"The crisis is over," says Louis Welsh, CEO of EADS. "The civil aviation goes, the market is left," he said, who looked forward orders for its Airbus "substantially" higher than the 263 aircraft already in his notebooks Bourget. The EADS boss also confirmed that the A380 superjumbo 'will fly today. "
In the third opening day of the 49th Paris Air Show in Paris, Airbus and Boeing should also announce a set of commands. But it is the European leading the way commands from Monday, with its Neo A320 with about 550 aircraft ordered to date. In two days, the two rivals have exceeded the 300 aircraft ordered.
• Airbus: two giant orders coming
On Wednesday, we are still waiting for two big new Airbus.Qatar Airways to place order of fifty five Airbus A320 and A380 Neo, the jetliner the European aircraft manufacturer. In addition, the Indian company should confirm IndiGo in the day a mega order of 180 Airbus A350 Neo worth $ 16 billion at list prices. In addition, the low cost Malaysian AirAsia is currently negotiating a contract with Airbus that could be up to 200 A320 Neo. Tony Fernandes, CEO of the airline, is expected Thursday at Le Bourget.
– The rental of aircraft ALAFCO Kuwait signed an agreement for six A350. Based on list prices only indicative, this represents $ 1.6 billion.
– The Latin American AviancaTaca company said Wednesday it has signed an agreement to purchase 51 medium-haul A320, including 33 re-engined A320 Neo.All of this command is a list price of about $ 4.5 billion.
– Republic (United States) signed a memorandum of understanding for 80 A320 Neo.
• Boeing
Since Monday, Boeing sign him, smaller contracts (41) Airbus for its medium-haul 737.
– The Russian company UTair sign a Memorandum of Understanding for 40 B737 for a list price of $ 3.2 billion.
• Sukhoi
The airline italienneBlue Panorama Airlines has ordered twelve aircraft Superjet 100 Russian Sukhoi group for $ 370 million (about EUR 257 million) announced Wednesday the Italian group Finmeccanica, Sukhoi partner for the Superjet.
The A400M grounded
A faulty gearbox which nailed to the ground during the A400M Paris Air Show is probably rooted in a manufacturing defect, said Tuesday one of the program.Airbus and engine manufacturers are studying this box, which broke a few days before the beginning of the troop transport plane in the sky at Le Bourget, forcing the manufacturer to cancel its demonstration flights.
ALSO READ:
"Aerospace is recruiting 10,000 people in 201
"The aircraft of the future will be electric
Despite his cheerful voice, that the bitterness that prevails. After 17 years of work to earn temporary caps in many societies, Sylvie Trouillet displays its ras-le-bol without wearing gloves. "The interim, it became a battle every day," she plague. The latest figures from job center, which show an improvement of temporary employment from 14% in one year, let this marble forties. His only concern: "The precarious status of the Interim," which in her opinion, rises to a crescendo.This observation led him to create the National Association of long-term acting (Anild), to defend the rights of these workers.
Unemployed since the beginning of the year except for a mission of "technical secretary" of three weeks in an estate agency that winter, the executive assistant training roundly on a sector that "has profoundly deteriorated over last twenty years. " After two CDI punctuated redundancies, first in a shoe wholesaler, then to a company renovating the building, she pushed for the first time the door of a temporary agency in 1994. She is 26 years."At the time, there was no support or unemployment benefits, it should work right away." In the process, she landed her first mission at France Telecom: a post of Assistant Director of site Val de Fontenay, near Paris.
From 1990 to 2001, "a blessed time of the gods"
Nestle to Air France, through the Savings Bank, EDF, the National Federation of jewelers, etc.. The missions are linked together, "often of long duration, three to six months." "The phone rang regularly," recalls she, calling the period from early 1990 until 2001, "blessed by the gods." Throughout the experiments, "I climbed the ladder from secretary to become commercial or sténodacylo framework," adds Sylvia proudly."With the interim, my salary has also increased from the minimum wage paid to 3,000 euros per month," connects the daughter of butchers, who then receives the temporary work as a springboard. Claiming a status of "interim career, by choice," she does not think in this context, to move towards a CDD or CDI.
But in 2001, the "gods" are less forgiving. The "changeover" to mark the beginning of a Sylvie "period of uncertainty" in the chain of missions pay day advance. "Suddenly, with this first crisis, the candidates have poured into the agencies," in which "human relations" were, she said, reduced to a trickle. "The agencies were no longer account for our luggage to our versatility and experience as before, she does most valued our résumé," Sylvie annoyed. "We proposed missions under-qualified, sometimes without regard to our training.And if they refused, we were told that there were thirty people behind. "Consequence of the crisis that followed the bursting of the dotcom bubble, pushing companies to drastically reduce their costs and staffing. For Sylvie, agencies, anxious to maintain their contracts with their corporate partners, then stopped "selling" their acting properly.
The Interim, "an unemployed sleep"
And according to him, the situation has further deteriorated since the last crisis. A real gap has widened particularly between "acting, which is not entitled to RTT, or tickets to restaurants" and "owner" analysis does."Once, a colleague told me anyway, an interim president, is an unemployed worker to sleep!" Without the assurance of finding work every time, like many self-employed Sylvie concedes that his private and social life has taken a hit: "I'm single, childless, and have not taken a vacation since 1982," she whispered.
In 2005, while unemployment and "free allocation", Sylvia suffers a period of great distress. "The phone rang again I was a nervous wreck.Sometimes I had to settle for a glass of milk and a biscuit a day. "It will take the opportunity of a mission at Carrefour to put an end to this rough patch and regain morale.
With Anild its association founded in January with a friend acting, Sylvie hopes to "raise awareness among agencies, public opinion and government" in the evolution of temporary work, especially for the 2012 presidential election. Only fifteen members have so far joined its ranks. Although many in comparison "of more than 800,000 temporary" that make up the market. But she said many people have already made contact. Besides his commitment, Sylvie is looking for work. Meanwhile, as always, that "the phone rings."
Asian stocks tentatively leave on Friday. At the Tokyo Stock Exchange, the Nikkei 225 lost 0.14% to close at 9607.08 points, after the Bank of Japan (BoJ) kept in a range between 0% and 1% interest rates. The BoJ still think the Japanese economy will recover moderate growth "from the fourth quarter." On Thursday, Japan fell into recession, gross domestic product fell 0.9% in first quarter 2011 compared to the previous.
The president would have resigned Tepco
Note that according to Japanese newspaper, Yomiuri Shimbun, one of the largest in Japan, the president of TEPCO, Masataka Shimizu had resigned for his role in managing the nuclear crisis to the central Fukushima. The spokesman of the group, Ryoko Sakai, refused to confirm the information.The company in difficulty since the beginning of the nuclear crisis in Japan expected to announce today a record loss of nearly $ 15 billion for the year ended March 31. It should be replaced by the auditor, Katsutoshi Chikudate. Tepco fence on a slight rise from 0.54% to 367 yen.
Caution is also needed on Chinese stock markets: the Hang Seng in Hong Kong gained 0.10% to 23,187.10 points and the CSI 300 ahead 0.18% to 3126.35 points.
Oil prices rise
On other Asian financial centers, the trend is mixed: the Taiwan TAIEX was down 0.69% at 8831.24 points, the S & P / ASX 200 in Sydney to yield 0.42% 4736.30 points and the FTSE Straits Times Index Singapore lost 0.21% to 3165.95 points.Conversely, the KRX in Seoul 100 is up 0.43% to 4479.25 points and the BSE Sensex climbs 30 of 1.07% to 18,335.60 points.
Oil prices were on the upside Friday in electronic trading in Asia, buyers taking advantage of lower prices yesterday, analysts said. In morning trading, a barrel of light sweet crude for June delivery gained 38 cents to 99.31 dollars. That of Brent North Sea crude for July delivery took 13 cents to 111.55 dollars.
China's competitiveness is being eroded in favor of the United States. Producing in China soon will cost more than 10-15% cheaper than in the U.S. by 2015, reports a study in the Boston Consulting Group (BCG). Taking into account all costs associated with transport and storage, the Chinese advantage will be reduced to less than 10% or even completely canceled, said the U.S. consulting firm. This is mainly because of the progressive narrowing of the gap between industrial wages in both countries.
BCG how he arrives at this conclusion at odds with the traditional discourse of economists? BCG has adjusted the salary cost of the two countries based on the productivity of workers, Americans are more efficient – such as better trained – than the Chinese. It also took into account the fact that the Chinese currency, the yuan will continue to rise against the dollar in the coming years.BCG analysts believe, after these adjustments, the wages in industrial cities like Shanghai or very dynamic Tianjin will be lower than 30% of those in the United States.
"Because of the lack of skilled labor in China, wages increase by 15% to 20% per year," said Harold Sirkin of Boston Consulting Group in a study published late last week. "We therefore expect that the net cost of labor in industry in China and the U.S. converge around 2015." Before concluding: "We will see many more" Made in USA "in the next five years."
Americans more productive
While China sees its labor costs rise, the U.S. productivity gain in parallel.More flexible labor code, public grants and favorable agreements negotiated with unions: "Many U.S. states, like Mississippi, South Carolina or Alabama, improve their attractiveness as centers of production to lower cost," says BCG . Some big names in American industry have recently relocated their production to the United States. Caterpillar has recently announced the expansion of a factory production of hydraulic excavators in Texas. About 500 jobs will be created. Previously, NRC had repatriated in 2009 its production of ATMs in Georgia.
Large manufacturers, however, are not going to desert China so far. Goods produced in large scale and require much labor will continue to be produced in China, recognizes BCG.It must be said that the Chinese advantage in terms of cheap labor and unskilled labor remains unparalleled. A study by the U.S. Department of Labor published in April, the average hourly wage cost of a Chinese worker in 2008 represented only 4% of that of a U.S. worker. And only 3% of average wage costs practiced in the eurozone.
Analysts had anticipated a pleasant surprise in the first quarter for Publicis. They were right. The advertising group recorded organic growth of 6.5% over this period to 1.286 billion euros, against 3.1% in the first quarter of 2010.
An Unusually, this performance is due to the good performance of Latin America (organic growth up 8.7% in the first quarter), supported by Brazil (+20.1%), U.S. USA (+8.4%) and Europe (+6.2%) boosted by France (+8.2%). In contrast, the Asia-Pacific is growing only by 1.5% due to the earthquake in Japan and floods in Australia. China limits the damage with a growth of 8.2%. "Our exposure in Japan is low. The earthquake and tsunami that struck countries, such as the revolts that took place in the Middle East, will negatively impact any of our forecasts for 2011, "said Maurice Levy, Publicis chairman.The boss of the advertising group is also stayed very evasive on the subject, merely indicate that "a 5% growth in sales in 2011 would be a very conservative forecast."
"We outperform the market by 2011"
Thanks to the good performance of China, Brazil, but also Russia and India, growth in emerging countries amounted to 11.4% in the first quarter. Digital activities alone represent 28.2% of Group revenue (against 27% in 2010). "We do not show much innovation and therefore continue to invest in growth markets such as digital and emerging" quips Maurice Levy. Digital activities and represent emerging elsewhere 48.3% of Group revenue in the first quarter "in line with the group's objective is to achieve 65% of its income on these two segments," says he .
The advertising market, the subsidiary of Publicis, ZenithOptimedia, has yet reviewed this week down its forecast for investment growth in 2011 to 4.2% against 4.6% due to the disaster in Japan and uprisings in several countries Arab. But that does not diminish the confidence of Maurice Levy. "Advertisers have not stopped their campaign, assures the President of Publicis. We found no concern on their part. Their primary concern is the growth, not cost reduction. "
A trust that is found when talking about the second quarter. "The second quarter looks good. The year 2011 will be for its good or very good, "said President of Publicis. We outperform the market in 2011. Obviously, the soaring price of raw materials encourages companies to protect their margins.It may therefore be a risk cutoff of investment from advertisers. But the future is growth. "
Future and it is precisely at Publicis issue, that of Maurice Levy, whose mandate expires Dec. 31, 2011 will be extended. But the president still has not set a date or given any indication as to his successor. "My priority is Publicis. I will remain the necessary time. "
Billionaires in the world have never been so numerous. And, with a fortune of 41 billion dollars, the French Bernard Arnault took fourth place in international rankings of 1210 established the very wealthy by Forbes magazine. The boss of LVMH ranks well behind Mexico's Carlos Slim (74 billion) and Americans Bill Gates (56 billion) and Warren Buffett (50 billion).
Within a year, the French businessman has moved from seventh to fourth place on the list of the richest men in the world. Bernard Arnault is even the richest in Europe. It must be said that the CEO of world number one luxury saw his fortune grow by $ 13.5 billion over the last twelve months and $ 24.5 billion over the past two years.The leader has particularly benefited from the recovery in the luxury sector for two years and particularly in Asia and emerging markets.
Fourteen French billionaires, including four in the top 100
The ranking of the world's first hundred fortunes of four French. Liliane Bettencourt, heir to the L'Oréal group, going from 17th to 15th in the world ranking, with 23.5 billion dollars. François Pinault, the former chairman of Pinault-Printemps-Redoute (PPR), won ten seats and is at 67th place with $ 11.5 billion.Serge Dassault, head of Dassault *, back to the 89th to the 96th place with a fortune estimated at $ 9.3 billion.
Ten other French are a Forbes billionaires: Jean-Claude Decaux (162nd in the world with 6 billion dollars), tied with Alain and Gerard Wertheimer, Chanel group, ahead of Alain Mérieux group BioMerieux (247th fortune with 4 bad credit personal loan lenders.3 billion), Xavier Niel (297th with 3.7 billion). Martin and Olivier Bouygues (304th with 3.6 billion dollars) and Pierre Bellon (393rd place with $ 2.9 billion) also appear in the first third of the world's richest billionaires.
The Honorary President of Adecco, Philippe Foriel-Destezet, monitors (459th with 2.5 billion dollars) while Vincent Bolloré (736th with $ 1.7 billion) No Reinold Geiger (879th with 1.7 billion) and Marc Ladreit de Lacharriere (1057, with 1.1 billion) are placed in the bottom.
United States: a factory billionaires idling
With 413 billionaires, the United States remains the largest producer of wealthy people in the world, but their weight becomes lower. Toutfeois, American Bill Gates have been leading the world rankings if he had not given much money to philanthropy.
Groups have generally benefited from the rebound in emerging markets like Carlos Sim, the king of Mexican telecommunications. In one year, the Mexican who weighs nearly 15% of the GDP of his country, increased its assets by more than 20 billion dollars.
Further evidence of this dynamic emerging markets: China has twice as many billionaires as last year. And Moscow is the city of the world's most populated by billionaires.
* The Dassault owns Le Figaro Group
The annual results published by Vivendi, one of the last CAC 40 groups to engage in exercise, are consistent with the general trend: in good order. If the results of group communication and media are in line with expectations, Jean-Bernard Levy, chief executive, said in the statement of the group, refer to "slight growth in profits in 2011" as well as maintaining a cash dividend at a level higher than 1.40 euro. In an interview with Les Echos this morning, the officer reiterated that the group also aims to buy out minority shareholders of SFR and Canal + France "if the conditions are reasonably priced."
In 2010, the group announced a net profit up 4.4% to 2.7 billion euros, a figure in line with analysts' expectations.And net income group share, that is to say, after deducting the portion that belongs to shareholders of subsidiaries whose third group does not hold the entire capital, settled him at 2.2 billion euros , against 830 million euros in 2009, an increase of 164.8%. EBIT is also in line with analysts' forecasts of 5.7 billion euros following an increase of 6.2%.
The turnover is slightly higher than expected it: up 6.4% to 28.9 billion euros against 28.6 expected on average by specialists. Vivendi said that the increase in sales was particularly supported by the release of new video game "Call of Duty." The group added that "all professions have achieved their objectives."
Vivendi adjusts its reserves
The group also reduced from 100 million euros, 450 million against 550 million previously, the provision recorded in its accounts under the partnership proceedings initiated against the United States. An adjustment is made after the decision of a federal court to exclude the compensation procedure of the group's shareholders who acquired their shares on the Paris Bourse. Vivendi had announced he would be able to make "a significant readjustment allowance" in its 2010 accounts as a result of this ruling.
Feb
22
The articulation of the French nuclear industry is probably the greatest industrial complex issue to manage for the government. For months, governments are seeking a scheme that guarantees efficient operation, with clearly identified relationships between actors, EDF and Areva head. Monday at the Elysee Palace, Nicolas Sarkozy chaired a Council responsible for nuclear policy to formalize this new system. It issued its findings in stride. All the question marks in the industry are not addressed, particularly the issue of succession to the presidency Anne Lauvergeon of Areva. Similarly, nothing is said explicitly about the possible entry of EDF's capital even Areva, while the previous Council's nuclear policy, last summer, noted that this possibility should be studied.However, the Council on Monday gave a number of key for a better industrial organization and a secure supply of uranium. Finally, more than ever, it confirms EDF's role as leader of the industry, but not under any conditions.
• EDF pilot sector
In the eyes of the Council of nuclear policy, EDF, the first global nuclear electrician, must assume its responsibilities. In this context, the Council of nuclear policy installs a strategic committee of nuclear power, bringing together all actors in the nuclear industry. Minister of Energy will assume the presidency but the Vice-Presidency is entrusted to the CEO of EDF. Load therefore Proglio animate all French industry.The government does not want a repeat of the recent episode of steam generators, where EDF has openly challenged Areva.
• Three new reactors in the study
Nuclear Policy Council took note of the weakness of the French offer for medium-power reactors instant personal loans guaranteed. He asked Areva, EDF and GDF Suez to intensify their cooperation in the TDD, a third generation reactor of 1000 megawatts (cons for EPR 1650) and thus have it certified. The Commission notes that a study be launched to implement a tool of its kind in France. Currently, the only nuclear site in France for the Flamanville. The government, aware that China is the first global nuclear market (100 new reactors are planned over the next twenty years), imply that France is participating in this program successfully.EDF will be allowed to be developed with its Chinese partners a third generation reactor mégawwats of 1000.
• A partnership between EDF and Areva reactivated
Operationally, Areva and EDF are invited to operate more effectively on many issues: in addition to sharing lessons learned about the EPR, improved maintenance and operation of the park is a priority. In the background, extending the life of French power stations.
• Spin Areva mines
A new milestone was reached in the case of mining of Areva. While reaffirming that "this is a mining asset for Areva, the nuclear policy of the Council asks him to spin off. A step that should probably be followed by an opening of the capital.This spin will be "pre-examination and implementation of strategic and financial scenarios to ensure its development," the statement said. At this stage it is not said whether or not EDF will be allowed to enter the capital, while such a scenario is under consideration in the number of global electricity. Areva and EDF are, at present, only invited to conclude an agreement "to long-term supply of uranium EDF.
On the occasion of its big annual event, the Ufip, the French Union of Petroleum Industries on Friday announced the impact of strikes on the fall of 2010 alone oil industry: 230 million euros.
A figure that could grow. For the fourth straight weekend, the activity of French ports will be affected by social movements, the CGT still requiring validation of an agreement on the drudgery.
Besides this "handicap" represented by the unreliability of the port of Marseilles, and denounced by Jean-Louis Schilansky Ufip Chairman of the rising discontent especially from the bosses of companies weakened by the downturn port. Under the patronage of the Phoenician city, the losses at the end of November last, relating to strikes, would amount to 800 million euros.In the medium term, the continued movement threatens 41,000 jobs directly and indirectly specifies the organization, who attended Thursday at a meeting of major economic players in Marseille.
Now "A container for two to France through foreign ports," a late Jean-Luc Chauvin, president of the PSU 13, the Union for companies in the Bouches du Rhone. Companies are dying to Marseille where we are in a state of permanent strike. "
Threat to long-term activity Ports
"Companies are tired, we are undermining the economic fabric," adds the CEO of the Port of Marseille, Jean-Claude Terrier. Especially if short-term impact of strikes on the job can be cushioned by partial unemployment, it is not the same in the long term.
Plagued by recurring blockages, the poor image of the port of Marseilles is widening. What is not without consequences for the activity: traffic from all terminals of the Grand Port Maritime de Marseille (GPMM) grew twice as fast in 2009 as the Mediterranean ports, and three times less than those Northern Europe.
And the fall in traffic could continue. On the site of Fos sur Mer, terminals and cargo containers are still totally blocked this weekend. A new arrest brings to 29 the number of calls to cancel since the beginning of the month. Between 1980 and 2010, the port of Marseille has lost 12% market share, reaching 16% last year. He has yet to lose a place among the European countries (5th in 2010).
However, difficult before any return to normalcy, to quantify exactly how many jobs really threatened.Meanwhile, a cell of the Prefecture of the Bouches du Rhone will be created to select the companies affected by social movements, and conduct an evaluation in terms of jobs. About 2,500 companies will receive bank facilities, said the Prefect Hughes Parant.
Side Le Havre, or movement is also closely watched, the loss of port activity related to strikes brought to 40% in Les Echos said the president of the Maritime Union and port of Le Havre. About 80% of the 16,000 jobs that include the organization today are indirectly affected, "he said. In January more than 50 calls were canceled out of 170 were provided, again in favor of other ports, Belgian and Dutch.
ALSO READ:
"The state is trying to save the port reform