Sundial of world news

Danone raised its sales growth target for 2010 after the publication of its results for the first half Tuesday. The group recorded an increase in its turnover by 7% over the period (6.9% in the second quarter) to 8.364 billion euros. Danone now expects growth in sales of "at least 6%," cons "at least 5%" previously.

Current operating margin stood at 15.30% in the first half, against 16.03% over the same period in 2009. The band announced target for the whole year stable margins on a comparable basis compared to 2009. The operating profit amounted to 1.28 billion (against 1.2 in the first half of 2009).

The current net profit climbed 10.1% to 848 million euros.

Danone also aims to increase free cash flow from operations of at least 10% compared to 2009 historical data.

"A good start to the year"

Group CEO, Franck Riboud, speaking of a "good start to the year" and that Danone announces in particular will continue "to invest in developing countries, products and brands with strong potential: Child Nutrition in Asia, the Fresh Dairy division in United States, Brazil, Russia.

"At the same time, he adds, we are continuing our efforts to improve productivity, essential to cope with the volatility of our raw materials." Third key point, Franck Riboud said that "cash generation continues to grow strongly."

The crisis has cost France dear. No less than 6 percentage points of GDP between 2008 and 2010 and 3 points of tax revenue and social, as estimated by INSEE. "The growth restarts quite normally, but it remains the scar," said Thursday its chief executive, Jean-Philippe Cotis.

The U.S. stock market continues its recovery. Contrary to the meeting on Tuesday where they were fenced in a disorganized, Wednesday's session saw the U.S. markets move all in green. At mid-session, the Dow Jones gained 0.96% at 10,040 points, the Nasdaq advance of 1.32% to 2199 points and the S & P 500 rose 1.06% to 1073 points. Tuesday already, after long hesitation which direction to take, the NYSE has done piecemeal. The Dow Jones gained 1.26%, but the Nasdaq has yielded 0.16%.

USA: growth "robust" in 2010 and 2011

On the foreign exchange market, the euro relapsing slightly in the morning against the greenback, hit by new fears over a deepening crisis in Europe.The European currency was worth 1.1942 dollars, against 1.1967 dollars the previous day.

Unsurprisingly, Ben Bernanke has confirmed the speech he gave Monday saying that the economic recovery appeared to be "solid" in the United States.

Heavy oil stocks decline

U.S. inventories of crude oil dropped more than expected last week, said Wednesday the U.S. Agency for Energy Information (EIA). Crude inventories fell 1.8 million barrels to 361.4 million. Economists on average had expected a decline of 900,000 barrels.

Today on Wall Street investors expect the Beige Book Federal Reserve, a report on economic conditions in the United States.Analysts said the report should confirm an increase in economic activity, but no sign of inflation, reinforcing the idea that the Fed is in no hurry to raise interest rates immediately.

After the disappointment of last Friday on the job figures, investors should pay particular attention to weekly figures for unemployment benefits to be published tomorrow payday loan.Among the major events of the week macroeconomic Friday, the market will face a survey about the mood of consumers.

On the side of values, the fast food giant McDonald's (+0.18% to 68.50 dollars) and the diverse group 3M U.S. (0.56% to 75.34 U.S. dollars) has warned that the collapse of the euro against the dollar would have a negative impact on their results.

Texas Instruments announced that its earnings and its turnover in the second quarter would be in the top end of its previous estimates.

The first U.S. carmaker, General Motors (GM) announced Tuesday the recall of 1.5 million vehicles worldwide, the vast majority in the U.S., for Fire Risk washer.

The U.S. giant Hewlett-Packard (HP) (-0.17% to 45.80 U.S. dollars) has launched a new series of printers capable of drawing paper from a mobile phone or other multi-function devices connected to the Internet.

Also note, the U.S. stock Constable, the SEC announced yesterday after the close that he could approve this week the creation of circuit breakers on trading platforms to avoid the repetition of "crash blitz last month on Wall Street, reported Tuesday the Wall Street Journal. For their part, the elected U.S. Congress to negotiate a version of the reform of financial regulation common to both chambers said Tuesday that those talks could be completed by the June 26 Bank stocks may react to this set of measures.

In the wake of a turbulent session on world stock markets, Asian markets are moving in the red Friday, but less dark than its U.S. counterparts, where the Dow Jones unscrewed 3.5%, and Europe, where the EuroStoxx 500 flinched almost 2%.

For example, Hong Kong, the Hang Seng yields 0.17%, to 19,545 points, in Australia, the S & P / ASX Index plaice 0.57% to 4292 points and in India, the BSO Sensex down 1.3% at 16,305 points. In China, the CSI index is even 0.15% to 2730 points.

The Nikkei skids

However, the trend is much more frank in Singapore and Japan: the Singapore Straits Times stumbles to 6:50 2.3% to 2689 points and the Nikkei 225 below 10,000 rating points to 9784 points exactly, showing a sharp fall again 2.45%.

The key index in Tokyo was not dropped below the symbolic 10,000 points since February 8, 2010.Investors are concerned that growth in Europe is too weak in the coming years and that this drives up the appreciation of Asian currencies, the yen in the crosshairs.

The Bank of Japan (BoJ) announced it was maintaining its key rate at 0.1% and it injected 1,000 billion yen (8.85 billion euros) in the country's banking system, to reassure markets worried about the problems of the euro area. Thursday evening, Spain's new growth forecast apr_ès the anonce an austerity plan of 15 billion euros.The country's growth will be only 1.3% this year against a previous estimate of 1.8%.

This Friday, the Monetary Policy Committee of the Bank of Japan (BoJ) has held that "the fiscal health of some European economies," posed a risk to economic recovery.

Investments in companies

As for values, the Japanese carmaker Toyota (-2.5% to 3,335 yen) will invest 50 million dollars in capital of U.S. manufacturer Tesla for joint production of electric vehicles at a plant in California.

Under the agreement signed in Palo Alto headquarters of Tesla Motors, the two partners' intend to cooperate in developing electric vehicles, spare parts, in production systems and engineering, "said a joint statement released Friday.

In China, as PetroChina was down Friday morning at the Shanghai Stock Exchange, after the oil giant had announced its intention to invest 60 billion dollars abroad in ten years. It lost 2.3% to 10.62 yuan (1.6 dollars).

Barack Obama was not convincing, is the least we can say. Despite these reassuring words about the future of the U.S. economy, U.S. markets were closed Thursday's session, down sharply: the Dow Jones lost 1.08% and 1.30% Nasdaq loose.

The three major indexes in New York posted strong gains Wednesday.

Eight banks covered by a survey: the markets punish

The Attorney General of New York has opened an investigation into eight banks, including Credit Agricole, to determine if they had provided misleading information about their mortgages before the subprime crisis, "according to The New York Times.Goldman Sachs (-1.73% to 144.65 dollars), Morgan Stanley (-0.65% to 27.62 dollars), UBS, Citigroup (-2.15% to 4.09 dollars), JP Morgan & Chase (-2.16% to 40.79 dollars), Credit Suisse, Deutsche Bank, Bank of America-Merrill Lynch (-1.29% to 16.85 dollars) and Credit Agricole in the crosshairs.

The dollar continued its rise against the euro

The euro fell Thursday to a level that was hers before the announcement of the stabilization plan of the European Union and the International Monetary Fund (IMF).The single currency was trading at 1.2531 dollar, near its lowest level reached before the announcement of the aid plan for the euro area.

Decline in number of unemployed weaker than expected

The resurgence of the greenback is supported by the fourth consecutive decline in the number of newly unemployed in the United States, according to figures released Thursday by the Labor Department in Washington fast payday loan. The ministry said 444,000 new jobless claims were submitted from May 2 to 8, or 0.9% less than the previous week (in seasonally adjusted data).

Oil prices opened sharply lower Thursday in New York, a barrel of benchmark lost 1.47 dollars to 74.18 dollars. Wednesday crude inventories rose 1.9 million barrels to 362.5 million.Economists on average had expected a rise of 1.3 million barrels.

Contracts awarded on the prudence of Cisco

The Japanese electronics giant Sony (-5.14% to 31.53 dollars) confirmed Thursday that ended the 2009-2010 fiscal year brought a net deficit of 40.8 billion yen (312 million euros ), reflecting a return to the green on the plan of operation, through reductions in fixed costs. Sony also said Thursday that he hoped to finish the fiscal year began last April, and will be closed in March 2011, a net profit of 50 billion yen (about 400 million euros).

Cisco (-4.53% 25.53 dollars) has announced its profit jumped 63%, but its CEO said that caution was in order.

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 rescue plan EU-IMF Greece will be ready "in the next few days," said Thursday the EU Monetary Affairs Commissioner Ollie Rehn. He said he will "protect financial stability in Europe and worldwide."

"I think the negotiations will be completed in the next few days," said Ollie Rehn. Traders Greek, European and International Monetary Fund (IMF) are close to agreement on "a multi-year program leading to a major fiscal adjustment, and other structural modifications" necessary to restore public finances of Greece, and back its economy on track for sustainable growth, "he added.

This package of financial assistance by developed countries in the euro area and the IMF will give Greece enough "breathing space", has yet estimated the Commissioner.He declined to say more, stressing that negotiations were not buckled.

The EU and the IMF have pledged 45 billion euros in loans to Greece, including 30 billion provided by 15 other countries using the euro. But many observers now believe it will take a larger envelope for a permanent exit the stagnation Greece. The $ 130 billion is the most frequently mentioned.

The euro area also fears the contagion of the crisis, Greek, especially after the deterioration of sovereign debt ratings of Portugal from Spain Tuesday and then Wednesday, reflecting the mistrust of financial markets and make credit more expensive for the countries concerned.

Consolidation of budgetary rules

"What we need most right now is a clear direction.We need a leadership that can guide us out of this zone of turbulence, "said Jean-Claude Trichet in a speech at the Economic Summit in Munich. He added: "I am confident about the outcome of these discussions," he has simply said, indicating that they should be completed in the coming days bad credit pay day loans. According to the President of the ECB, the financial crisis continues to defy the European economy. He therefore called for an overhaul of EU budget rules and increased scrutiny of government finances.

Supporting the euro and Greece

Since Beijing, French President Nicolas Sarkozy has declared fully committed to support the euro and to support Greece.In a statement to Agence France Presse (AFP), the Head of State said: "The plan agreed by Greece is fully credible, we trust the Greek government and we are working hard to all this is put in place without delay. " He added: "France will play its part. We'll be at the rendezvous.

Nicolas Sarkozy has also insisted on "the perfect agreement between Germany and France" on how to resolve the debt crisis in Greece. "I constantly Chancellor Angela Merkel on the telephone."I was very satisfied with the statements of the Chancellor (…) on the credibility of the Greek plan, its determination to implement the European level to support the euro," he said while Berlin had rather hitherto been very reluctant to help Greece.

For Nicolas Sarkozy, "it should be understood that in this case, it is not only of Greece. This is the euro is our currency. We are committed, this concerns us and a duty of solidarity, we will pay.

"France has put in a position to fulfill its obligations to fight against speculation.The plan has been defined by Europe will be applied so important, we will not allow speculation to act at will to destabilize any country, "said the head of the French government about the crisis triggered by Greek abyssal deficit, which caused panic on stock markets and a fall in the euro.

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Microsoft on Thursday posted a net profit up 35% to 4.006 billion dollars for the third quarter of fiscal offset, and a turnover of 14.5 billion dollars, which increased 6% year on year.

"Windows 7 contiune to be a tool for growth, but we also see strong growth for Bing, Xbox Live, and the emerging markets of" cloud services, "said Peter Klein, CFO of Microsoft, said in a statement issued after -Exchange on Thursday.He added: "Our record revenue in the third quarter is a continuation of our policy of strict cost".

Mircosoft expects 2010 operating expenses between $ 26.1 billion and 26.3 billion dollars.

On Wednesday, Apple and Yahoo recorded profits for 3.07 billion dollars (89.5%) and 310.19 million dollars, the first for the second quarter 2010 and second in the first quarter of 2010. As for their sales, they amounted to 13.5 billion (+48.7%) and 1.6 billion (1%).

At the NYSE, Microsoft shares closed up 0.19% to 31.39 dollars in a market up 0.09%.

"We see the gentleman behind the great communicator." Thus did Laurence Parisot commented on Monday, the first decision of the boss of Publicis Group, the new President of the French Association of Private Enterprise (Afep, which includes hundreds of large companies including those listed on the CAC 40). Maurice Levy has proposed to his counterpart Medef code to complete their common governance, to promote parity. The text now recommends that boards of directors (or supervisory) have at least 20% of women within three years and 40% by six years, these deadlines will act over the arrival due mandates.Some recommendations that match the proposal passed earlier this year by the Assembly at the initiative of the UMP MP Marie-Jo Zimmermann, with the support group president Jean-Francois Cope, who must still pass the Senate .

But the draft law provides for sanctions, including revocation of appointments of directors who flout the rule. Nothing like it in the code AFEP-MEDEF: all the betting is that firms will not dent their image. This is the principle of "comply or explain" ("comply or explain"), which Maurice Levy thinks it will be very effective: "If the rule is not applied, it should explain why in its annual report and before his shareholders.This is the strongest thing that can be imposed on a board of directors. "This idea of self-regulation had given birth to the code AFEP-MEDEF, allowing companies to avoid legislation on executive compensation (parachutes gilded, stock options …). Similarly, Maurice Levy believes that "the law is no longer necessary" on women directors. Marie-Jo Zimmermann replied "very pleased that companies show their willingness to move forward" but hopes that his bill "continue its path. He took this sword of Damocles that things start to move, we'll see in two or three years if we can remove it.In addition, continued its elected Moselle, my text provides a resolution of the board annually on equality across the company: hiring, pay, career development … ".

Bernadette Chirac at LVMH

"We may not like quotas, but there are circumstances where a little help can ease the situation," said Laurence Parisot, who "companies are at the forefront. We never talk about discrimination suffered by women in top management. The subject is still in the agenda of the "Social Agenda 2010" of Public Service."And we talk enough about the risk of decline with future territorial advisors," says the boss of bosses, the voting could be first past the post, whereas the regional advisers are currently elected on joint lists.

According Afep, women accounted for 10.4% of the directors of the CAC 40 in late 2009, and is expected to rise to 15.7% this year. Carole Lewiner will be ushered to the board of Bouygues, Laurence Dors at Capgemini, Meglena Kuneva at BNP Paribas in Fatine Layt Imeri … Without forgetting Bernadette Chirac at LVMH.

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Observed by the whole world, the trial Rio Tinto, which opens Monday in Shanghai, is the culmination of nearly a year of trade tensions between China and the mining giant Anglo-Australian Rio Tinto. This will also be a political test for Beijing, which has promised transparency.

Four employees of Rio Tinto appear from Monday for "corruption" and "theft of trade secrets": the Australian Stern Hu, head of the Shanghai office of Rio Tinto, and three of his Chinese collaborators. Upon their arrest in July 2009 in Shanghai, they were accused of stealing state secrets, that is to say, highly sensitive information on China's position at the negotiating table on ore prices iron.

Since the beginning of the Rio Tinto trade negotiations and lawsuits strangely coincide.The arrest of Hu Stern and his staff intervened when the negotiations on the price of iron ore were being ruined and one month after the rejection by shareholders of Rio Tinto to increase the participation of the giant China's Chinalco aluminum in the group's capital.

Partnerships in Africa

Earlier this year, announcing the end of the investigation fell when the price negotiations for the year 2010-2011 debuted without China. Like every year, the big mining groups that dominate the global market – Rio Tinto, both Anglo-Australian BHP Billiton and Brazil's Vale – agree with their key buyers – Japan, China, Europe – a price for the year beginning April 1, fast cash advance .But the mining groups have decided this time to discuss first with their Japanese buyers.

Last year, Chinese steelmakers were on a very firm position. No agreement had been reached. Steelmakers had ended up paying the market price, 80% over prices negotiated. This year, the talks heated still ahead. Miners might seek to secure increases of 50% to 90%, according to sources. Higher difficult to accept for the Chinese steelmakers.

But Rio Tinto hopes to continue its business in a country that became the main destination of its exports last year, with 24.3% of sales. The Anglo-Australian multiplies friendly gestures. A new head for China and was appointed last month. The choice of Ian Bauert is not trivial.This sinophile and sinophone was created in mid 1980 the first office of Rio Tinto Republic. For his part, Tom Albanese, CEO of the group, arrived in Beijing Sunday to attend an economic forum.

Last week, his company signed a partnership with the giant Chinese aluminum, Chinalco, for an investment in a mine in Guinea. According to the Australian press, discussions are also underway for projects in Mongolia and Australia.