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The accounts of the first quarter of Compagnie Generale de Geophysique-Veritas (CGG Veritas) illustrate the difficult trading conditions which prevailed in the second half.

Specialist Geophysics, whose clients include oil and gas companies, released on Wednesday morning a symbolic net profit in the first three months of the year: 1 million dollars, 760,000 euros. It was 5 million in the fourth quarter 2009 and 71 million over the first three months of 2009.

Another sign of weakness to the group led by Robert Brunck, operating profit of 37 million dollars (28.5 million euros) between January and March 2010, which fell by 33% compared to the previous period and is and divided by more than three compared to first quarter 2009. Operating margin also exited at 5%, against 7% and 15%.What is much less than the operating profit expected by analysts of Gilbert Dupont (7.5%).

For the CEO of CGG Veritas, the rest of 2010, increased investment in exploration and oil production continues, "and will gradually lead the market upward seismic. A recovery that will benefit from first Sercel, the seismic equipment manufacturing industry (32% of sales), the group said.

The stock price in great form since the beginning of the year

This quarterly publication disappoint Wednesday: CGG Veritas shares fell by more than 7% at the Paris Bourse.They cotent to 15 hours, 20.3 euros.

But since the beginning of the year, the increase in stock price is still high at almost 43% against a background of positive recommendations from several consulting firms, mostly optimistic about the prospects of CGG Veritas.

Like Bank of America-Merrill Lynch, which raised its price target on the value of 20-27 euros, saying that "the average life span of the fleet grow from 18 years in 2007 to 11 years 'By the end of 2010, with an average number of streamers (a tool for measuring the seismic data, Ed) per vessel increased by 10 to 12 by 2012 " flexcheck cash advance.What, according to the broker, expect "good surprises at the margins.

Morgan Stanley also recently referred to above – 20 to 22 euro – showing that the oil services industry evokes options included about $ 310,000 per day for vessels to be used in the third quarter of 2010. In other words, prices rise by 40% since a ship costs about $ 220,000 the day at acruelle.

On Tuesday, Gilbert Dupont reiterated his advice to "accumulate" CGG Veritas shares, and recommends to hang over the quans profits reach EUR 25.5.

Bourbon sign a big contract in Brazil

The Bourbon Group, also specialized in oilfield services, announced on Wednesday morning a turnover in line with expectations, fell 1% to 236 million euros.

The group also announced it has won a long-term contract in Brazil, estimated by Natixis to about 100 million euros of turnover split over periods of contracts 3 to 8 years.

This is a contract for 13 new vessels (1 and 7 PSV AHTS type liberty for offshore continental and five crew boats) that will allow it to "almost double its size in the country by the end of the year, "said the broker.

In the first stock exchanges, securities Bourbon drop 1.45%, to 31.65 euros.

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The big annual event in the automotive industry held in Beijing until Sunday confirmed that the style and technology of Chinese cars are progressing well. The Citroen ZX for hire, Volkswagen Santana and other pale copies of Japanese sedans certainly live their last years of existence.

Great Wall, a great inspiration – Haval Under the label, the mark this year an unprecedented range of 4 ? 4 leisure. It is recognized in the models exhibited the features of the Volvo XC60, VW's Tiguan and the Mazda CX-7 or the Hyundai Tucson. The latter, renamed H6, is equipped with a 2-liter common rail turbo diesel and a 6-speed automatic transmission, like the original.

The troubles continue for Goldman Sachs. After the civil action last week by the SEC, the policeman of the American Stock Exchange, the leaders of the institution are subject to a complaint by two shareholders, Robert and Morton Rosinek Spiegel, the Supreme Court of State of New York. They accuse the leadership of the bank to have breached its obligations by conducting a series of transactions involving CDOs (collateralized debt obligations) linked to subprime mortgages.

The bank's CEO, Lloyd Blankfein was named, along with all members of its board of directors. The French trader Fabrice Tourre is also part of those involved.

Both complaints put forward the "systematic failures" of the bank for three and a half years has not reviewed the Abacus-risk investments, in the heart of the case quick cash.The losses amount to one billion dollars.

These criticisms follow those of the SEC has accused Goldman Sachs of fraud accusing him of having misled investors during the marketing of complex financial product issuing CDOs. According to the SEC, Goldman Sachs has committed fraud rules governing the banking institutions do not publish everything she knew about these titles based on guarantees fragile.

Ed Canaday, a spokesman for the bank, declined to comment immediately, saying the bank had not yet seen the complaint.

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Goldman Sachs is preparing his defense

Tax policy will be one of the major challenges of the 2012 presidential. Elected representatives of the majority have realized that the crisis had substantially changed the perception of the French measures taken at the beginning of the quinquennium. In the UMP as among the centrists, parliamentarians are increasingly likely to claim "adjustments" of the tax shield in the left side, which for three years, tirelessly seeks its removal. The Budget Minister Francois Baroin, who was auditioning for the first time Tuesday by the Finance Committee of the Assembly reaffirmed the need to maintain the tax shield to send a message of "fiscal stability" for French taxpayers who chose to go abroad to save taxes.

A topic "anxiety"

But the lines are moving in the majority.Thirteen UMP deputies said they would seek in a bill, the "suspension" of the tax shield to "finance the pension reform, reduce deficits and to support people in precarious situations. Jean-Francois Cope, the owner of UMP, which remains "very committed" to this device, does more to suspend the application "for a limited time, for a visit of solidarity.

The chairman of the New Center, Herve Morin, said that the question deserves "a full debate". The deputies and senators are centrists on the issue at the forefront, and that of the ISF. Jean Arthuis, the chairman of the Senate Finance Committee, has long called for the abolition of the tax shield and the removal of the ISF, with consideration for the creation of an additional tax on income at 45%.In the House, Charles de Courson, a specialist in budgetary matters, is on the same line as the president of the centrist Alliance for the ISF. But it does not require the abolition of the tax shield. He would prefer the way the CSG and CRDS shield calculated at fixed rates, and that the CRDS is increased by 0.2% to 0.3%.

Jean-Francois Cope,, recommended the merger of the income tax, the CSG and CRDS to reduce deficits and debt, which have become a subject of "anxiety" to the French. This was the observation that the majority elected to have the opportunity of the regional campaign. Cope also agrees with a repeated request of many of the elected majority, leaving the principal residence of the base of the ISF.

They were euphemistically called the "very high salaries." These are the 133 000 full-time employees the more lucrative private sector who have received an average gross earnings of EUR 215 600 in 2007. Three times more than the "high wages" and seven times more than all full-time employees. The heterogeneity of this category is very large: the differences in annual revenues ranging from 84 500 euros to more than 13 million.

This category of the population does not know the crisis."While they represent only 1% of the workforce, people with very high incomes receive 5.5% of earned income, 32% of income from assets and 48% of the windfall revenues reported (capital gains, exercise of options), "INSEE noted in the 2010 edition of its publication The income and household wealth.

Between 2004 and 2007, the number of employees earning more than 100 000 per year has increased by 28% and those exceeding the half-million dollars … 70%! Since 2002, wages rose an average 5.8% per annum in real terms, against a 2.3% increase for all employees on the same period. Three focus areas more than half of these very high salaries: advice and assistance (including sector "business administration" including holding companies, the group headers), financial activities and trade activities Wholesale.

West Paris in mind

40% of these very high salaries are salaried executives who earn on average 230 000 per year, 15% of financial professionals, such trader or chief of a financial service of a large company (290 000), and More anecdotally, for 0.8% of them, the athletes earning almost 450 000 euros on average per year.

Nearly nine in ten very high salaries (87%) are men. "The more you go up the hierarchy, the higher the proportion of men increases," notes INSEE estimated 6% difference in pay between male and female quotas at this level of responsibility.

Another feature related to the experience, they are older (49 years on average) than high wages (45 years) and that all employees (40 years). Only 16% of them are under 40 years.Finally, nearly one in two lives in West Paris, in the three departments (Paris, Yvelines Hauts-de-Seine) where the head offices of large enterprises.

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The NYSE is concerned. After closing at its highest since 18 months yesterday, the U.S. markets begin the meeting this Wednesday in the red. At the opening, the Dow Jones coward 0.23% to 10,826 points, the Nasdaq fell by 0.36% to 2406 points. The S & P is also losing ground: -0.35% to 1,170 points. The remote Greek crisis worried now overseas. To these doubts was added degradation by the rating agency Fitch of Portugal. Investors expect the EU summit tomorrow with more anxiety.

The new real estate undermines morale

Side indicators, the Commerce Department has issued orders for durable goods in February increased 0.5% from janvier.C is somewhat less than expected.

Later, the numbers of home sales, but new this time for February will be announced.Then came the weekly U.S. oil stocks, provided by the Department of Energy. Stocks expected to rise, which was lost over a dollar on oil Wednesday.

"The new home sales should remain very depressed. While sales in the former have declined less than expected, but in February they returned to their lowest level since 8 months, says it at Aurel bcg. The nine are still suffering the competition of the old and foreclosures. Inclement weather does not argue for a pleasant surprise on this indicator no credit check payday loans .But this figure is already bad clearly anticipated by the markets. "

Adobe in the viewfinder

Adobe Systems announced late Tuesday quarterly results for its 2009-2010 fiscal year better than expected and also reported predictions of the second quarter exceeded expectations.

MF Global has announced that the former governor and former chairman of Goldman Sachs, Jon Corzine, has been appointed executive director of the group.

In the property sector, Lennar has sharply reduced its quarterly loss, and assured to be on track to return to profit this year.

ConocoPhillips said Wednesday that it would halve its 20% stake in Russian oil Lukoil.

General Mills on Wednesday posted earnings per share (EPS) of 96 cents for its third fiscal quarter ended February 28, cons EPS of 85 cents a year earlier.

Dell targets a turnover of five billion dollars in China in 2010, according to CEO Michael Dell.

On the foreign exchange market, the dollar rose to its highest level in ten months and a half, about 1.34 dollar per euro, against a single currency penalized by the fact that the European Union (EU) could agree on an action at the International Monetary Fund (IMF) to stem the crisis in Greece.

The trustees will have no choice. Friday, March 19, Herv? Novelli, Secretary of State for Trade, has signed a decree listing the benefits which must be included in the annual package paid by owners to day management of the building. Only services that are not included in this list will therefore in future be charged as extra by the trustee.

For example, the detention and the retention of certain records (plans, rules of ownership …) are included in the package. Same principle for the holding of general meeting, whichever occurs on the days and time slots indicated in the contract.All new contracts signed after July 1 must comply with this new rule.

This order lists the tasks of daily management purposes only established by the National Council of Consumer Affairs (CNC), which he believes should not be charged extra. The vast majority of contracts trustee voluntarily complies this list, as their unions had requested them. Most owners have therefore already contracts under the new rules. But a small minority of trustees continued to ignore. The order will force them to toe the line.

Herve Novelli has however not been satisfactory associations consumer no fax cash advances .They wanted the order to go further, especially to cut short the abusive practices of some trustees accused of inventing such new costs (administrative costs for time spent making photocopies for example) and to charge off package.

"A very imperfect compromise"

Association officials condominium (Arc) was also condemned in advance the draft order, saying it would allow such trustees to continue to pay more to hold general meeting in the evening. For the General Confederation of tenants, that order is "a very imperfect compromise between consumer expectations and resistance professionals.It gives no definition of the current management, poses no limit to the abuse of special services and create difficulties of interpretation concerning the list of benefits. "

But Herve Novelli does not intend to abandon this topic. He asked the Committee on unfair terms in order to have deep expertise on the unfairness or otherwise of all clauses in contracts.

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Wall Street began the week slightly up on Monday after the Friday on sustained growth markets. The Dow Jones gained 0.18% at 10,585 points, the S & P 500 rose 0.17% to 1141 points and the Nasdaq ahead by 0.16% to 2330 points.

In the United States, week market will be under the sign of the American consumer. The two major economic indicators this week, published Friday, will be the sales details for the month of February and the preliminary estimate of consumer confidence. For specialists Aurel BGC, household consumption should remain strong after the employment figures released Friday very reassuring. Analysts fear, however, that severe winter weather does not disturb the profile of these two indicators in the short term unsecured personal loans .

This meeting will be held the same day as the Franco-German summit held in Paris. Optimists are betting on an agreement in principle to that Chancellor Angela Merkel and Nicolas Sarkozy announce all the rescue program.Otherwise, they should show their political support and call for a quick solution.

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