Sundial of world news

The European debts will eventually overcame the hope that the beginning of 2010 augurs well for the CAC 40. So much so that with the exception of January and April, the index in Paris has never got beyond the symbolic 4,000 mark. In the end, the CAC 40 lost more than 3%. Other European exchanges have also been hard hit by the crisis in Europe: Madrid lost 17.43%, 13.23% dropped Milan, Lisbon dropped 11.79% and Ireland has dropped by nearly 7% .

But the country that has suffered most, and it is the least we can say is that Greece has fallen by over 40%. Major European stock markets only, and it's not a surprise, Frankfurt and London have performed well with the respective performance of 16.06% and +9.2%.Note the resistance of Belgium (+ 2.67%), which could also be contaminated by the financial problems of "peripheral" countries.

Stockholm, best European performance

The most powerful place in Europe this year is Stockholm, with an increase of 19.47%. Sweden outside the eurozone, it has escaped investors' doubts about the public debt of European countries most vulnerable, that have spread to all countries in the euro area.

Outside Europe, the year 2010 will have spent the rise of Russia (+ 22.54%) and the advent of Turkey (+ 25.32%) and South Africa (+ 16.09% ).

Despite sluggish growth and unemployment still high, the U.S. exchanges were pretty well worn. The Dow Jones gained more than 10%, the S & P 500, about 13% and the Nasdaq nearly 20%.

In Asia, the record is mixed: the Nikkei has lost 3%, Shanghai, over 11%, while Hong Kong rose more than 5%.

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The minimum cost for a taxi ride will increase from 1 January will be 2.1% and 6.20 euros (6.10 euros cons today), according to a decree published yesterday in the Official Journal. The rate of strokes is determined by the Ministry of Economy in particular from the evolution of fuel prices.

The three components of a taxi shall not "exceed the mark after following amounts: Supports 3.43 euros, mileage allowance and € 0.94 an hour wait or slow march 31.58 euros", said the order. Before you apply, the new tariffs will be brought in each department by the prefecture. Taxis have until early March to change their meters and display the new conditions of care in their vehicle.

Febrile very end of this year, Asian stock markets turn from green to red on Tuesday. Markets, which react further to higher Chinese interest rates are not reassured by the direction chosen by Wall Street. The U.S. stock market, which reopened its doors yesterday (under snow) after an extended weekend, has taken the quotations on a very mixed.

Moreover, markets are following the trend driven by the Tokyo Stock Exchange. And it is not good: at the close, the Nikkei lost 0.61% to 10,292.63 points while the broader Topix index dropped 0.20% to 902.83 points. All in a trading volume remains low, with barely 1 billion shares traded.

The Japanese stock market has welcomed into doubt the flurry of macroeconomic statistics published in the morning.First, the unemployment rate in the archipelago has stagnated at 5.1% of the workforce in November, unchanged from October, according to the Ministry of Internal Affairs. Then, retail sales rose 1.3% year on year in November, recording their tenth increase in 11 months. The rebound in sales of food products and appliances offset the fall in car purchases. From his side, industrial production rose 1% in November (first increase month on month in six months), a figure in line with expectations. In contrast, consumption of Japanese households fell 0.4% in November over a year while economists were expecting a small increase.

Hong Kong takes in the red

At this news have been grafted in doubt following the opening of the Chinese stock exchanges.While Shanghai welcomed without panic rising interest rates, the reaction of the Hong Kong Stock Exchange, closed for Christmas, was more negative payday loans for self employed. The Hang Seng Composite lost 0.94%, taking with him the Shanghai Composite, which fell by 1.20%.

The other exchanges can only follow the movement: the Korean KOSDAQ loose 0.09%, the S & P lost 0.45% Australian. Only the Indian Sensex keeps head above water (+0.13%).

"Investors have protected their profits when values fell in Shanghai last night. They did not buy more with the uncertainty about Chinese values, "said Kazuhiro Takahashi of Daiwa Capital Market.

The increased gross

Crude prices were up Tuesday in electronic trading in Asia, while North America is swept by a cold snap, according to analysts.In morning trading, a barrel of light sweet crude for February delivery took 24 cents to 91.24 dollars. One of Brent North Sea crude for February delivery gained 18 cents to 94.03 dollars.

Eastern Canada has been affected in turn on Monday by the snowstorm that hit the U.S. east coast with winds up to 150 km / h, which disrupted air traffic and caused power outages. The storm, which wreaked havoc on Sunday and Monday most of the East Coast of the United States was raging in the evening on the New Brunswick and eastern Quebec, where about twenty centimeters of snow had fallen. Accumulations of 50 cm was possible in some places until Tuesday morning.

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Consume without buying. A French entrepreneur has decided to apply this principle to children's toys. His website, Ecojouet.fr, offers parents of children aged zero to five years to lease three, four, five or even six toys over a period of one to six months. An opportunity for some parents, while many toys purchased in France each year end up in the trash.

"This idea came to me with the authorship, there is a little over a year. At the time I was in a period of career transition, I had left my business and I am wondering about my future, tells the figaro.fr Stéphane Cozic, founder of the site.By watching my son of ten months, in the midst of discovery, I realized it was going constantly from one toy to another, sometimes even he was not interested as their packaging! " a mess that gave the father the idea of providing toys for rent on the web.

The principle? Parents choose at least three toys, those of their choice, for a period of one, three or six months and the lease can not exceed six toys. Rates vary between 15.90 and 59.80 euros per month depending on the formula chosen. A savings, he said, 20 to 60% compared to a potential purchase in the supermarkets. An equation which becomes less advantageous from the second month's rent. Each prize includes round-trip delivery, batteries and cleaning toys.If the toy is returned to the supplier or broken with pieces missing, the consumer will however add to its base rate a penalty of about 80% of the value of the object payday loan lenders. Among the guests: "parents or unmarried couple" of "grandparents," but "tourists on vacation a few weeks in France."

Something for the planet

Beyond the proposed alternative for parents, Stephane Cozic also sees his small business a way to do something for the planet. "I propose a collaborative consumption which limits production because toys are reused," he enthuses. Another positive point he said: this system enables learning to share her child, explaining he would forward his latest toy to another child, who will give himself to someone else, etc..If crying spells or if the object has really enjoyed his child, it is possible to buy it at a preferential price.

Since launching its website, Stéphane Cozic been a steady increase in the number of its customers. If some of them do not renew their orders, he has over a hundred regular consumers. A business that this father is not the only one sniffing. Three other sites currently offering the same type of service for matching fares.

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Snow plays tricks on the euro. Christine Lagarde has missed an appointment Thursday with his German counterpart Wolfgang Schäuble, who was speeding at twice the site opened last EU summit: the economic convergence between Paris and Berlin and building the future "IMF" European.

Nicolas Sarkozy and Angela Merkel have promised to work in the early weeks of 2011 to greater harmony between France and Germany on the fiscal, economic and social development. The sixteen countries of the euro area have also pledged "to be finalized by March" plans of the European Stability Mechanism (SPM) in 2013 which will take over from the current interim bailout fund.

If the principle of convergence is acquired, the sensitivity differences emerge from the implementation, including within the Franco-German couple.The preparation of the meeting in Strasbourg, at first secret and finally canceled, provided confirmation: economic governance, the key fiscal and debt return to growth in Europe, Berlin and Paris keep opposing views.

"Strategic decisions must belong to the states and their leaders. To them the last word, "Christine Lagarde insisted Thursday, taking the French argument, in an interview with the daily Sueddeutsche Zeitung. Viewed from the German side, the European recovery would rather rely on an institution as independent as the Bundesbank is now under the joint control of national parliaments.

Loans Unlimited

This is the central proposal of a working paper of the federal authorities, including Le Figaro has obtained a copy.Berlin has denied it is a formal proposal, approved by the Chancellor, or even by Wolfgang Schäuble. But they have not denied the content. This is a trial balloon, intended to mark the position of Berlin before the eyes of fifteen other countries of the euro does not undertake before the real discussion.

Renamed the European Investment Fund Stability and Growth in the German version, the MES would be a parallel institution to the European Central Bank (ECB) in Frankfurt. By prior agreement of the Sixteen, it would normally have a capacity of refinancing "unlimited." It would provide "emergency" loans strictly conditioned to the euro countries in difficulty.

In return, recipient countries should give him the equivalent of 120% in senior secured (gold, securities of public companies, etc.)..On a voluntary basis, the fund would also proceed with the rescheduling of debts. If the question was allowed, this very policy confirms that Berlin "has a national interest in the sustainability of the euro".

But it marks equally clear that countries of the euro "should meet German expectations. (…) Is to Germany, as an economy of casting the euro area, it is up to be the anchor of stability. "In short, setting the tone.

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U.S. stock markets have edged up again Wednesday. The Dow Jones moving timidly but surely, from 0.23% to 11,558.81 points, the Standard & Poor's 500 by 0.33% to 1258.78 points while the Nasdaq 100 2671.48 0.15% gleans points.

On Tuesday, the Dow Jones rose 0.48% to 11,533 points and ending at its highest since September 2008, before the bankruptcy of Lehman Brothers. The index of 30 blue chip stocks on Wall Street, which had struck several times on the threshold of 11,500 points since the beginning of the month, and this time it crossed this milestone. He thus concluded its best closing level since Aug. 29, 2008. For its part, the Nasdaq gained 0.68% to 2667 points, a peak not seen since December 2007 and the S & P 500 rose 0.60% to 1255 points at the highest since September 19, 2008.

Side oil, crude hit a record Wednesday night, more than $ 90 a barrel.A first since October 2008.

On the foreign exchange market, the euro against the dollar remained stall. Towards 22h15 to Paris, the euro bought 1.3098 dollars. Tuesday the euro was again on the decline against the dollar, wiping out the gains earlier in the day.

Public debt has increased by more than 2 000 billion en2010

On the macroeconomic front, today, investors will monitor particular, the U.S. GDP in the third quarter and sales of existing homes, before reading tomorrow in new figures. The main highlight of the week at the macroeconomic level, however, is expected tomorrow with the number of durable goods orders for November.

At the same time the statistics on debt are beginning to be revealed.Unsurprisingly, the year 2010 was marked, in developed economies, by an explosion of public debt. According to a report released Tuesday by the Treasury, the net debt service of the U.S. state has increased by more than 2 000 billion for fiscal year 2010. In total, the Financial Report of the United States, the federal public debt has reached 13.473 billion dollars (equivalent to 10 300 billion). It was 11.456 billion a year ago. The deficit, which reflects interest on debt and the cost of social spending, spring 2080 billion for the year ended September 30, against 1.253 trillion a year earlier.The actual budget deficit was reduced to 1 294 billion for fiscal 2010, against 1,417 billion in 2009.

Nike expects a decline in margins over the coming months

The side of values, the U.S. manufacturer of sporting Nike (-5.75% to 86.99 dollars) on Tuesday, after the close of Wall Street, net income up 22% for the second quarter of shifted its fiscal year, but warned that its margins would decline in coming quarters due to rising costs. Net income totaled $ 457 million, up 22% year on year. Per share, it appears to 94 cents, while analysts expected 88 cents only.The turnover of the sign at the point stood at $ 4.8 billion, up 10% over one year (11% excluding currency effects), in line with analysts' expectations.

For its part, the U.S. aircraft manufacturer Boeing (0.66% to 64.61 dollars) reported on Wednesday that he soon would announce the resumption of flight tests of its 787 Dreamliner halted last month after a fire of electrical origin aboard an aircraft. "The next announcement that Boeing will likely be the resumption of flight testing. We expect this announcement very soon, "told reporters the president of Boeing Japan Mike Denton. Tests of this long-haul, still in development, with a lag of almost three years, were halted after a fire in flight on November 9. Mike Denton declined to make any statement on developments in the delivery schedule.Boeing is supposed to deliver the first 787 Dreamliner to All Nippon Airways Japanese airline midway through the first quarter of 2011. Initially, the delivery was scheduled for May 2008.

Moreover, according to the Wall Street Journal, Genzyme (+0.03% to 71.52 dollars) is now more willing to discuss with the French group Sanofi-Aventis. The U.S. laboratory said so far his opposition to any negotiations so that Sanofi would not raise its offer as inadequate.

Always on the side of values, the U.S. authorities requested additional information on the acquisition of American Baldor (-0.17% to 63.18 dollars) by the Swiss ABB (+0.18% to 22.29 dollars ), but both groups say they are "confident" about the green light to the acquisition.The Swiss engineering group ABB announced in late November for the redemption in cash of $ 4.2 billion by the American industrial electric motors, Baldor Electric. The bid securities to shareholders of Baldor began Dec. 8 and ends January 10. According to analysts at the Zurich Cantonal Bank (ZKB), the application of the U.S. Department of Justice is "normal", but might delay the finalization of the acquisition in the first quarter.

Also note, the American Airlines announced Tuesday it would remove the possibility of booking a flight on the U.S. travel website Orbitz, a measure to encourage people to go on its own site.

• The Telex Airbus (English)

Airbus on Monday delivered a warning, a Flight Operations Telex, as revealed by the Echo on Tuesday to all its client companies. This relates to the Airbus A 330 and A 340, on which the device was operated flight AF 447, and reset the autopilot in the cockpit after an icing Pitot probes (for measuring the speed of the aircraft ), a phenomenon supposed to be the cause of the tragedy of June 1, 2009.

When the Pitot probe frosting and send wrong information to the cockpit for speed, the autopilot disengages and drivers should continue to fly the aircraft until the problem stops, the velocity information from the three probes are consistent , and so the autopilot can be reset.So far, the reflections on the disappearance of the AF 447 were on the way the pilots suddenly recovered the aircraft flight manual, night, in full crossed areas of cumulonimbus.

Telex Airbus says companies that, when two of the three pitot probes send erroneous information, if such information is almost identical, they can be considered valid by the onboard computer of the aircraft. The artificial horizon (the Flight Director) who had disappeared from the screen reappears and the drivers will be tempted to put the autopilot on and then summon the device to fly with false information. "If the sensors indicate a speed of 100 knots below that of the camera, the camera takes a blow when the driver is reset," said one expert interviewed by Le Figaro. In this case, the autopilot puts the gas and put the stick back.The aircraft pitched up in hand. Stall and a plane falling to the ground are then quite possible. "The pilot can recover the aircraft, said an aviation expert but must know that at this altitude, one pilot on a needle with an air density very low."

This scenario will be validated only if the fourth round of the FA Research 447, which begins in February, managed to recover the black boxes of the device.For the moment, the only messages received Acars of the aircraft shortly before his death, can not say whether the pilot was or was not reset by the pilot of Air France.

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FROM: AIRBUS CUSTOMER SERVICES TOULOUSE

TO: ALL A330/A340 GE CFM PW RR OPERATORS

FLIGHT OPERATIONS TELEX – FLIGHT OPERATIONS TELEX

OUR REF. : 999.0112/10 dated 20 December 2010

Subject: ATA 22 and 34 – Loss of AP and A / THR Associated with alternate

Law reversion

CLASSIFICATION: Airworthiness

Notice: This FOT Provides information about a "significant Operational

That Is outcome related to safety or airworthiness guaranteed approval cash advance loans.It Is EACH Operator's

Responsibility to distribute or to distribute this FOT The information

Contained in this FOT, applicable to all of Their flight crews Without

delay. Failure to apply "this FOT May Have A Significant Impact are safe

aircraft operations.

This FOT & the EPO advance copies Will Be available in pdf format

in AirbusWorld Within Two Days.

1. PURPOSE

The purpose of this FOT Is To recommend The Flight Crew to check

airspeed indications Before Engaging the autopilot, When in alternate

law.

2.EXPLANATION

When There Are Significant Differences Between airspeed all sources

The flight controls revert to alternate Law, the autopilot (AP) & the

autothrust (A / THR) Automatically disconnect, & the Flight Directors

(FD) Automatically bars are removed.

It has Been Identified That, after year Such events, if airspeed Two

Become stills similar sources while erroneous, The flight guidance

computers:

– Display FD bars again.

– Enable autothrust autopilot and re-engagement.

However, In Some boxes, tea orders autopilot May Be Inappropriate, Such

as possible steep pitch command.

Therefor, The flight crew must Apply THE FOLLOWING PROCEDURE.

3.OPERATIONAL RECOMMENDATIONS

When autopilot disconnected and autothrust are Automatically and flight

Have controls reverted to alternate law:

– Do not commits the Ap and the A / THR, Even If Have FD bars

reappeared

– Do not Follow the orders FD

– ALL INFORMATION ……………………………….. X-SPEED CHECK

* If speed unreliable indication Suspected IS:

– Unreliable SPEED INDIC / ADR CHECK PROC APPLY ………..

* If at least Two ADRs Provide reliable speed indication for any

least 30 seconds, & the aircraft stabilised IS On The Intended

path:

– AP / FD and A / THR ……………………………….. As required.

4. CORRECTIVE ACTION

This Procedure Will Be The Next canceled by FCPC standards That Will Be

Before available end 2011.

Will this change in commitment inhibit autopilot The Above

Described situation.

5.FOLLOW-UP

For A330 aircraft, thesis Operational Recommendations Will Be Issued by

Beginning of January 2011 in red EPO 82 / 1 and Its Associated EPO PROC

82 / 1 In The QRH.

For A340-200/-300 aircraft, thesis Recommendations Will Be Operational

Issued January 2011 Beginning of EPO in red 95 / 1 and Its Associated EPO

PROC 95 / 1 In The QRH.

No Specific follow-up to this Planned IS FOT.

Between a conservative China, the United States and a moribund Europe unable to agree, the year 2011 promises to be tight for investors. The economic downturn will be there too brutal in Beijing, growth is she really back across the Atlantic and Germany and France will they agree on economic governance? So many questions for which answers remain highly uncertain.

Certainly, the year 2010 ends as well as it had started, the CAC 40 rising nearly 8% since December. But this "technical rally to year-end" should not be forgotten that 2010 was difficult for investors. Of all the major indexes, the CAC 40 is the one who posted at December 17, the second weakest performance in 2010, after the Nikkei, with a drop of 1.75%.

By comparison, the British FTSE was up 8.48%, the Dow Jones U.S. grew by 10.20% and German Dax gained 17.21%, the highest annual increase of all major international indices. "The CAC 40 is sealed by the heavily weighted banking stocks, hit by the crisis of European debts, and Total, who have screwed this year, said Franklin Pichard, director of Barclays stock. Without these values, the CAC 40 have increased 10% to 15%. " That's what makes the most telling managers that 2010 was not so bad for equity investors.

"The CAC 40 can not leave without the bank"

Because they are among the most exposed to debt peripherals, French banks have been battered more than in 2010. Indeed, they have outperformed the CAC 40 in the third quarter payday loans for bad credit.While some managers argue for an empty wallet of any bank, others point out their importance. "Investors can not do without banks," said Marc Renaud, President of Mandarine Gestion. The CAC 40 is so constituted that he can not leave without a return of bank stocks. " He concedes that it is more difficult to invest in banks as their business model is difficult to understand. "The crisis has weakened individual banks and strengthen others. The selection must be rigorous. Values such as BNP Paribas, Santander, HSBC, Deutsche Bank and Intesa are preferred, "he adds

While their share price fails, most of CAC 40 companies posted impressive gains … because they have reduced their costs. Now, the managers expect them to invest. But not right away."Because of sovereign debt, the first half of 2011 will remain difficult, but the recovery in consumption and investment in the United States, and the growth of emerging economies will support financial markets in the second half," said Franklin Pichard . And this time he will play the technological media. "The crisis has challenged the division between cyclical and defensive stocks, which are not as defensive as that. Investors should think in terms of sectors or themes, "says Franklin Pichard.

While their share price fails, most of CAC 40 companies posted impressive gains … because they have reduced their costs.

More than six months after the announcement of the resumption of cheese Entremont by the dairy cooperative Sodiaal, the final protocol was finally signed this morning with UNIFEM, according to our information.

Owner Entremont, UNIFEM was owned 63% by the NOC, the holding company of Belgian investor Albert Frère. By midweek, the latest creditor banks had affixed their signatures to the agreement to renegotiate the debt Entremont. The final closing scheduled for early January.

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A system where the employer hires employees based on their needs. All very normal in the business world. This is also what is trying to establish the government in the high administration, removing the classification output of the ENA. The project is as simple as it seems and arouses strong resistance – for evidence, it was launched by Nicolas Sarkozy three years ago! But a further step was taken with a Senate vote on the night of Tuesday to Wednesday.

So far, students from the Ecole nationale d'administration choose their assignment at the end of their schooling, according to their scores. The bodies of remunerative and prestigious as the Inspectorate of Finance, the Audit Office or the State Council, are favored by ENA graduates out into the "boot", that is to say in the lead."A competition spent 25 years directing a professional life," lamented the head of state in early 2008.

The former ministers Eric Woerth and Andre Santini launched the file. A decree establishing a new procedure has been drafted. But in examining the State Council said that the law provided an explicit allocation based on the classification output of the ENA for … the young magistrates of the State Council. An order may violate a law, while the site was blocked. The bill Warsmann simplification of the law under consideration in the Senate, gave an opportunity to remove this obstacle. That's what the senators come to … more than a year after members! And the process is not complete since it takes a second reading.

"A committee of transparency"

The future allocation system, the government now to see applied in 2012, "is in all our reforms on the careers of officials: Replacement of the notation for the assessment interviews, validating experience, removing age limits payday advance low fees… "said Secretary of State for Public Service, Georges Tron. Young énarques indicate the positions that interest them. Governments express their preferences on the candidates after reviewing CVs and interviews conducted anonymous collegially. Given these factors, a "transparency commission" – by Jean-Pierre Jouyet, technocrat, Inspector of Finance and Chairman of the Financial Markets Authority, which devised this procedure – decide assignments.Everything is supposed to allow a match between the skills and desires of candidates and the needs of the state.

This complex system must address the concerns of nepotism, "pistonage" or political patronage. Ranking is indeed perceived by its supporters as the guarantor of equal opportunities, ensuring that merit alone leads to better jobs. "Yes, it is a system incongruous, but it is an incongruity that we have 150 to build!, Pleads Arnaud Teyssier, president of the Alumni Association of the ENA. Governments are not businesses, because they are subject to policies. Their boss, the minister. The risk is that the most prestigious body n'accueillent the brightest but most Parisians, the most militant, who have the best address book. "Proponents of reform will see these concerns as" corporatism "of great body.