Sundial of world news

It is with relief that the financial markets have greeted the unemployment figures across the Atlantic for the month of August. After long hesitation in the morning, in the wake of fences New York markets and European markets have been raking in points after 14.30. In the middle of meeting, the CAC 40 has risen by 0.76% to 3659 points. At 15 hours, the ACC is closer to 3700 points (1.89%). At the London Stock Exchange, the FTSE-100 advance from 0.52% to 5399.14 points, and the German DAX 30, the Frankfurt Stock Exchange, rose 0.44% to 6110.88 points.

Before the announcement of the major statistical, investors remained cautious to say the least. "It does not happen much on the markets, who are eagerly awaiting the unemployment figures of the United States, says it in the rooms. Is a very important day. Nobody wants to get new paris before this indicator.Investors prefer to wait and see what is the recovery. " He added: "If the numbers are bad, I think the markets will fall heavily and not only Friday, but next week."

Services: slowdown in France, rising in Germany

Despite a slight decline as unexpected new listings weekly unemployment across the Atlantic on Thursday, the Labor Department is expected to announce this afternoon an increase in unemployment to 9.6%."The GDP is not growing fast enough to create hundreds of thousands of new jobs needed each month to reduce employment at its level before the crisis," said Christina Romer Thursday, who will leave at the end of the week his position as economic advisor of President Barack Obama.

Also across the Atlantic in 16 hours, the ISM index of activity in services for the month of August and a speech from Fed chairman in Atlanta, Dennis Lockhart on current economic conditions are also scheduled .

For the euro area, growth in services in France recorded a slight decline. Whereas 59.9, the PMI stood at 60.4 against 61.1 in July. In contrast, in Germany, he cons 57.2 56.5 in July. Although below expectations (58.5), it evolves to its highest level since August 2007.

Retail sales in the sixteen countries that have adopted the single currency rose 0.1% from June and 1.1% over one year. Economists polled by Reuters had forecast an average increase of 0.2% a month to month and 0.6% a year.

The meeting was much calmer on the microeconomic front, in the absence of publications, the wave of results for this quarter coming to an end the Paris Bourse.

GDF Suez Stock doped by a partnership

The Director General of the operator, France Telecom, Stéphane Richard, told Reuters on Thursday on the sidelines of the MEDEF Summer University he was confident in the outcome of discussions with Canal + on the fusion of strings Orange Cinema Series TV and TPS Star. It will also try to convince the government not to raise VAT on offers "triple play".France Telecom gained 0.25% on the stock market to 16.18 euros.

GDF Suez (2.09% to 26.75 euros) has signed a partnership with the Brazilian Eletrobras to develop transportation projects and energy production in Central and South America, and Africa.The two groups do not preclude joint ventures.

Air France-KLM (+0.27% to 10.96 euros) plans to create a structure "low cost" for medium-haul routes, especially from Orly to the province to counter the offensive of the British company at bottom EasyJet costs.

The Slovak government has decided to retire to a consortium led by Bouygues (-0.28% to 32.32 euros) a road construction project of $ 3.3 billion through a public-private partnership announced Thursday Slovak Minister of Transport, Jan Figel.

Venezuela will pay approximately $ 600 million (468 million euros) Casino (+0.20% at 66.20 euros) and other shareholders of the supermarket chain Exito nationalized in January said Thursday President Hugo Chavez.

Vinci (+1.05% at 37.14 euros) Thursday announced the acquisition by its subsidiary of Vinci Park UK Meteor Parking which achieves annual turnover of approximately 50 million pounds (60 million euros ), allowing it to become number four in the sector in the United Kingdom.

LVMH (0.81% to 97.25 euros) a court decision is expected this Friday on an appeal by eBay, convicted in 2008 for dissemination and distribution of counterfeit perfume off approved.

Pernod-Ricard still in the red

On the side of the steepest declines, we find Sanofi-Aventis, still in talks to buy the company Genzyme bio technologies. The value is 0.54% to 46.63 euros, after losing 0.53% on Thursday. Pernod-Ricard continues in the red after the publication Thursday of disappointing results.After having yielded 2.37% on Thursday, back down 1.68% to 60.22 euros on Friday.

Ipsen (+0.26% at 27.27 euros) has signed an agreement with the Swiss pharmaceutical company Santhera Pharmaceuticals. The laboratory has received a license to market the fipamezole, a drug that helps relieve the symptoms of this disease in the world, except Japan and North America.

Germany, Europe's best student for growth, also wants to be exemplary public finance issue. The government on Wednesday adopted the measures that will save 80 billion euros by 2014. It is for Berlin to meet the debt ceiling set in the marble of the constitution, or the balance of public finances in the medium term. The fiscal effort will be growing and will begin at 11 billion euros in 2011.

Already, thanks to the rebound of the German economy in the second quarter, the deficit was smaller than expected. It represented only 3.5% of gross domestic product (GDP) over the first six months of the year. Compare with the 3% limit set by Brussels, that Berlin could also comply by 2011, according to economists at Deutsche Bank.

In early summer, ads for rigor had caused an outcry in Europe.Partners in Berlin accused of wanting to be more orthodox than necessary. They feared that the rigorous German kills the European recovery. To observe the growth of 2.2% in the second quarter, driven by demand, moreover, that fear was unfounded. On the contrary, repeated Finance Minister Wolfgang Schäuble "in Germany, one of the biggest obstacles to economic growth is the increasing uncertainty of the people on deficits."

The main measures adopted by Berlin.

• Lower social benefits: 3.16 billion euros in 2011 payday loan no teletrak. The long-term unemployed will have their aid for heating and reduce their pension insurance. The parental salary will be cut down.

• Tax Funding: € 2 billion per year. Berlin has decided to levy a tax on financial transactions.This measure will be applied, however, that if Germany succeeded in convincing its European partners to implement it.

• tax on airline tickets: 1 billion euros per year. The flights from Germany will be taxed at 45 euros per ticket for the long haul and 8 euros for short trips. The new tax is debatable. The Association of German airlines BDF considered that the proposed tax would lose five million passengers per year in Germany.

• Tax ecological: 1.5 billion euros per year. Exceptions allowing companies to avoid taxes will be phased ecological.

• Cuts in Defense Budget: 4 billion euros in 2013-2014. military spending will be reduced through a probable downsizing, or even elimination of military service.

• Tax nuclear 2.5 billion euros per year. This has caused an outcry in the energy sector. The government has also not adopted on Wednesday. This new tax will be a separate text and will be discussed at the end of the month.

The group Mersen (ex-Carbone Lorraine), specializing in graphite solutions and electrical components, confirms its growth targets for 2010 after the publication of an increase in its half-year profits of 25.4%. Net income for the first half was $ 17.3 million, for an operating margin of 9.9% against 9.5% a year ago, and sales, already published, 348.1 million (+14.8%).

"The event was very well directed, welcomed Thomas Baumgartner, the chief financial officer, during a conference call.However, despite this improvement, the activity has still not regained its 2008 level, before the start of the economic crisis.

While saying "pay attention to macroeconomic uncertainty," confirmed Mersen wait for all of 2010 a "return to organic growth" and increased its operating margin (about 9% in 2009. "We confirm our objectives even more confidence "that the end of July," said Thomas Baumgartner, ensuring not see at present any adverse effect of the macroeconomic environment on the recovery. And to indicate that the group would give more details of its 2010 targets September 15 at a meeting on the strategy Mersen.

In late June, the group's net debt, which has acquired companies such Boostec and M. Schneider, widened to 255.8 million euros against 214.9 million at end December.

The U.S. Intel acquired the business "wireless" (Wireless Business Solutions) of the German manufacturer Infineon semiconductors. The transaction is expected to close in the first quarter 2011, approximately $ 1.4 billion (nearly 1.1 billion euros), according to a joint statement released Monday.

The wireless division will continue to operate independently within the Intel group, the statement said. She recorded the last fiscal year sales of 917 million euros, representing about 30% of the total turnover of Infineon.

With this sale, the German group wants to focus on its core business: automotive technology, industrial and security.

The transaction should allow Intel to increase the market for smartphones and embedded technologies with the expertise of Infineon payday loans. The acquired technology is also used in laptops, ultra-portable or tablets. "The acquisition of Infineon's wireless business strengthens the second pillar of our strategy computer connectivity to the Internet and allows us to offer a product portfolio covering the full range of wireless solutions," said Paul Otellini The CEO of the California firm.

Rumors of rapprochement between the two groups were revealed Sunday by the Wall Street Journal, which states that Samsung and Broadcom were also interested in the transaction. The U.S. daily said that Infineon hoped to realize $ 2 billion of the transaction.

Economists had expected worse. U.S. growth amounted to 1.6% in the second quarter, according to the second estimate of the Department of Commerce presented this Friday. A figure down 0.8 points from the first estimate and that betrays the slowdown after growth of 3.7% in the first quarter.

The difference is explained by taking into account the last calculation, external trade, the main weakness of the U.S. economy. "The slowdown reflects a sharp increase in imports," said Department of Commerce. The end of the replenishment of stocks by enterprises has also contributed to the resumption of breath.

More details to come …

Among the issues raised on the office of Nicolas Sarkozy, the creation of a bank co-development of the countries of southern and eastern Mediterranean has a special place. Even during reentry, the creation of a facility designed to finance development projects around the big blue remains a concern.

This Wednesday, Charles Milhaud gave the President the report by an international commission as a basis to work on creating this new financial institution, at the Summit of Heads of State and Government of the Union Mediterranean (UPM), held in Barcelona in November.

Three scenarios were selected. The first, and probably one of the most probable, is to create a bank of the Mediterranean from the spin-off activities of the FEMIP (Facility for Euro-Mediterranean Investment and Partnership).This includes all the instruments of intervention of the European Investment Bank (EIB) for development and economic development of partner countries. The Bank would become a shareholder with a stake between 35% and 50%. The second possibility, perhaps the most delicate, lies in the creation of a specific bank can easily imagine that it would require a significant capital raise.

Public-Private Partnerships

The third hypothesis advocates the establishment of an institution size smaller funds from deposits and consignments of countries concerned.

If the current subsidies reach 20 billion euros per year (including 5 billion from the EIB), the report reveals a shortfall of funding in some sectors.The major regional projects such as solar plan, water, urban development difficulties that could be resolved through public-private partnerships. The SMEs crucial to the development of this region of the world also face this problem.

The stakes are high. "We must realize the potential development of Mediterranean countries, like Germany has to do with the countries of Central and East," said Charles Milhaud. With a hope: that the institution's capital is also home to the southern states of the Mediterranean, but also the Gulf.

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The French are always prone to develop an ecologically minded when it can bring them money. Regarding photovoltaics, however, investment should soon be as attractive payday advance lender.

After the sugar cane, beet and corn whiskey. Researchers at the very serious Napier University in Scotland (could it be otherwise?) Have patented a biofuel made from byproducts of whiskey. That Captain Haddock is reassured, personal consumption is not threatened. These are manufacturing residues Scottish distilleries that can find an outlet in the petrochemical unexpected.

A potential windfall for local producers of whiskey, which already weigh 4 billion pounds (3.28 billion euros) in turnover. Scholars believe that the funds stills (precisely 1.6 million liters of pot ale and 187 000 kg of "draft") could easily supplying fuel to local gas stations.

Yes, lack of resources, only cars in Scotland would be entitled to preferential treatment.Unfortunate as this new biofuel benefits. It can be used in any car, without engine modification, and returns 30% higher than ethanol. But the story does not say if the streets will feel the "pure malt".

If the summer was finally not as hot as expected, the return should be it. In any case, the unions will do everything in this direction and plants already sharpening their weapons for the looming battle over pensions. "We feel strong enough discontent in the opinion," says Jean-Claude Mailly, secretary general of TF. The situation is still difficult in terms of employment and purchasing power. And then there's the pension reform that does not pass. One has the impression that the government is sailing to and try to solve problems by tapping the employees. "

In the crosshairs? The great day of mobilization unit of September 7, the day of commencement of the review of the pension reform in the Assembly.The goal is to do better than at the last day of protest and strike, June 24, where between 800,000 and 1.9 million French citizens – according to figures for the police and the CGT – marched to four corners of the Hexagon to protest against the project led by Eric Woerth.The unions have also worked hard this summer to convince the French to continue to fight against a reform they consider "unfair and ineffective": CGT visited factories and businesses to inform employees who do not go on holiday, the CFDT has toured throughout France with its green bus to entice young people to their cause, FP has preached the good word by flooding the beaches of postcards with the message clear: 'Holidays is great, retirement at age 60, too! "…

Heavy disruption to transport

A strategy that should be paid for, in the opinion of all experts, the mobilization of September 7 should be followed despite its very early in the schedule back.Strong perturbations are already announced in public transport, especially in the SNCF and the RATP house where unions have filed strike notice sometimes renewed. "Nicolas Sarkozy has skillfully diverted attention during the summer by returning to the front of the media spotlight the issue of security and forcing us to react," observes Lawrence Berger, the national secretary of the CFDT labor. It played well strategically, but it will not prevent a strong mobilization on September 7, "says he.

The challenge remains to prepare the post-September 7. The Inter meets on Monday evening in a Parisian suburb, the headquarters of the FSU, not only to capture passwords and goals of the mobilization of September 7, but will be talking about for him."A single event, unless it is huge, not enough to reverse the government concedes Jean-Claude Mailly. If you want to succeed, there should be a power stronger, and FOR will again offer the rapid organization of an inter-day strike to call for all unions. "Probably by mid-October , when the reform was passed by the Senate. A proposal that also appeals to the ultras in SOUTH but the CGT and CFDT still reject for fear of failure. "This is a high risk situation, because we can not afford to offer the French repeating events that would lead to nothing, nor call one-day strike which would result in not a failure," admits Lawrence Berger . The government, he, bet on a weakening of the movement and the resignation of the French.Top response on September 7.

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SOCIETE GENERALE posted Wednesday net income by 3.5 Muliple the second quarter of 2010, above expectations, thanks to a decline in its stores and a smaller than expected loss in its toxic assets. The bank led by Frederic Oudea confirms its objectives. SocGen, which has set a target of an annual profit of 3 billion euros, has already earned a net profit of 2.1 billion in the first half alone.

The second quarter was particularly strong for the second French bank by market value after BNP Paribas. It announced in its press release via effects have achieved a net profit of 1.084 billion euros for the second quarter ended in June, where the consensus reached by Reuters expected a general result to 732 million. The jump of the result depends primarily on a favorable base effect.In the second quarter of 2009, the bank had indeed been beset by such elements exceptionnels.Le group had had to reassess the value of its debt, due to improved market conditions, which had cost $ 1.3 billion over the period. This time, Societe Generale has received the opposite effect, to the tune of 254 million euros.

The cost of risk declines more slowly than in BNP and HSBC

Like BNP Paribas, which has published its accounts on Monday, its provision for potential loss on the credit over the period fell 6%. However the pace of decline in the cost of risk is much slower than some of its rivals, reflecting a more cautious speech of SocGen on strength of economic recovery.

BNP Paribas and British bank HSBC, for example reported Monday in stores near their level before the crisis in one hour payday loans. "The economic recovery that began in late 2009 confirmed, but it remains fragile," said Frederic Oudéa, CEO of Societe Generale, said in the statement. "Especially in Europe, growth prospects remain subdued," he adds.

Penalized by the toxic assets, and author of "profit warnings" on their accounts of 2009, SocGen tries since the beginning of year to convince the market of its ability to turn the page of the financial and economic crisis and the of the Kerviel affair.The new management team led by Frederick since May 2009 Oudéa promised mid-June to double the profits of Societe Generale in two years and is targeting a net profit of six billion euros in 2012.

Proposed acquisitions

The bank is also considering acquisitions but said it does not fund them through capital increases. Besides the new strategic plan, the results of resistance tests conducted on 91 European banks and the announcement by the Basel Committee's flexibility to draft new banking regulator has made a boufée oxygen action SocGen, long shunned by investors.

In the past four weeks, the title, boosted by good news on the European banking sector jumped 40%. Since the beginning of the year, however, still leaves nearly 8% and continues to underperform its benchmark Stoxx 600 European banks.On Wednesday, investors welcomed the performance, action rising 2.46% in the first few transactions to 46.51 euros.

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