Sundial of world news

The defense electronics group Thales has multiplied by eleven net profit in the first half compared to the same period in 2009. It amounted to 138 million euros against 12 million euros last year. The turnover has increased it by 4% to 5.95 billion.

"It's a gradual recovery in line with our expectations in an environment that is becoming," said Luc Vigneron, CEO of Thales. France and Great Britain, where Thales is firmly established, and Germany are considering a reduction in their defense budgets. Faced with this gives the group confirms its commitment to expand internationally. "We are continuing our campaign to improve our performance and want to take advantage of growth areas in emerging countries," said Luc Vigneron.

The group confirmed its 2010 targets. The sales will be stable, the operating profit margin would be 3 to 4%."An operating profit of 3 to 4% corresponds to a net positive for the group," said Patrick Durand, CFO. Thales has a loss in 2009.

Two contracts uncertain

While the group has already Saffron rebound airline, Thales will benefit later recovery of the aviation sector. It is possible that the group is obliged to take further charges for two contracts, "the situation is still somewhat uncertain": Meltem contract signed in July 2003 with Turkey on the one hand, the contract signed in July 2004 for the military transport plane A400M ordered by seven NATO countries (Germany, France, Spain, United Kingdom, Turkey, Belgium, Luxembourg), on the other. "Discussions are under way with Airbus business," said Luc Vigneron.The President of Thales said that the group has been in question had also been penalized by delays to the A400M.

Thales, which has won three contracts in excess of 100 million euros in the first half of 2010 against nine for the same period in 2009, expected completion in the second half of the supply of 81 satellites in the Iridium group. A contract of one billion euros.

Saffron is still determined to seize Zodiac

Saffron is always seize Zodiac. Jean-Paul Herteman, Chief Executive of the group of aerospace and defense, confirmed Wednesday that a rapprochement with Zodiac absolve synergies. "We make time to convince," said Jean-Paul Herteman. The battle is difficult. The supervisory board of Zodiac refused unanimously on July 11 a merger offer.Didier and Olivier Domange Zarrouati, respectively Chairman of the supervisory board and chief executive, believe that Zodiac may develop "not lean Safran or anyone else."

Optimistic after the publication of its first half results, Safran has also raised its annual forecast. It expects an operating margin of 8% against 7% previously. It provides a turnover close to that of 2009. "The performance in the first half lead us to revise our ambitions higher," said Jean-Paul Herteman. The group made a net profit of 223 million euros in the first half, down 20.6%.

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The decision of the Central Bank of China down 0.12% Monday from the central rate of its currency, to bring it back to 6.78 yuan per dollar, is not trivial. It confirms that China believes that the resumption of the global economy is "very slow" in the words of his prime minister, Wen Jiabao.

Since June 19 last, the central rate of RMB, yuan's other name, is fixed daily by the bank that leaves fluctuate within a margin of plus or minus 0.5% vis-à-vis the greenback. Then she had gained 0.8% since that date, the Chinese currency fell Monday to its lowest level in two weeks, to 6.78 yuan per dollar.

The government fully controls the growth of his country. The measures taken to avoid overheating, especially in real estate, have borne fruit. The GDP (gross domestic product) grew by only Chinese 10.3% in the second quarter, against 11.9% in the first.

Wen Jiabao welcomes it, but he believes that his country because of "uncertainties" facing the world must "increase domestic demand, while stabilizing the foreign demand." But Monday, the State Information Center, an organization that depends on the Reform Commission and National Development, released a report which estimates that the growth of Chinese exports in the second half of this year will not exceed 16 3% by volume, against a leap of 35% for the first six months of the year. It does not explain its calculation, but it is clear that it expects a slowdown in trade flows in the world.It probably also fear the consequences of wage increases in Chinese enterprises on the competitiveness of the country pay day advance.

"We will pursue a fiscal policy that anticipates events and a lax monetary policy remains appropriately," recalled last week Wen Jiabao on the occasion of the visit of German Chancellor Angela Merkel. And to reaffirm its confidence in the euro area stressing that China was keen to diversify its huge foreign exchange reserves (2454 billion in late June) by buying other currencies than the dollar, Japanese yen and the euro particular.

Strong pressure

But the Chinese are concerned. The decline in consumer prices in the U.S. in June for the third consecutive month, makes them fear a risk of deflation in the U.S..Deflation, which leads consumers to indefinitely postpone their purchases and that discourages entrepreneurs from investing.

Beijing knows that long-term revaluation of the yuan will allow its exporters to improve the management of their enterprises to go upmarket and strengthen their competitiveness. This is the speech that he held the Americans and Europeans that add such an operation will also contribute to "reduce inflationary pressures from outside."

But in the short term the Chinese authorities think that the pressures are too strong. So, although it continues to assert that it will maintain a "regime of managed floating exchange rate, the speculation began to say that it will limit increases its currency to protect its exporters.

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European banks want to permanently remove the specter of the collapse of the banking system. Alessandro Profumo, UniCredit's boss and one of the most influential leaders in the sector, has relaunched the idea of creating a fund to rescue banks. The idea is simple: banks unite to raise funds that can then be used by an institution in difficulty.

Alessandro Profumo said that using this solution "allows one or more banks in trouble to find a quick solution and avoids any systemic risk." Deutsche Bank and Santander would be convinced by the project.In an interview with the Financial Times, the Director General of the Italian bank in advance that such funds could raise 20 billion euros in a few years no fax cash advance.

Several projects to protect the financial system have already been mentioned. Recently, France, Great Britain and Germany have called for the establishment of a tax credit which funds used to finance the rescue of an institution. However, according to Alessandro Profumo, the creation of a fund from the private sector is able to raise more money.

And initiatives to avoid another crisis are numerous. The Basel Committee develops banking sector reforms to prevent a collapse in the event of another financial crisis.Regulators, who are implementing these measures by 2O12, want to focus on strengthening the capital requirements and capital, and limit debt.

Monday, Le Monde has turned a page of his story in a calm atmosphere. Once is not custom. Upon completion of the supervisory boards of the World, offers the trio Pierre Berge, Xavier Niel and Matthew Pigasse ("BNP") received 11 votes. The other nine votes abstained. Employee representatives had 9 votes, and Louis Schweitzer, Chairman of the Supervisory Board, which made the difference in making its voice and that entrusted to him by Claude Perdriel, boss Le Nouvel Observateur and unsuccessful candidate for the resumption of the World.Louis Schweitzer has done everything to ensure that The World is lost in a new crisis between the employees and field representatives (Lagardère and Prisa, La Stampa, Pierre Lescure, Jean-Louis Beffa …).

Over the weekend, in the daily columns, he emphasized the seriousness of the financial situation and warned: "I hope there will be convergence." At the end of the supervisory board, Gilles Van Kote The president of the Society of Editors (RS) welcomed "the gesture of a great lord of Claude Perdriel, which withdrew its offer and voted for its competitors. On Monday morning, Claude Perdriel and Orange announced they were withdrawing their offer, drawing the lesson of the plebiscite of employees of the World for the trio "BNP".Into effect on Friday, the different societies of staff (Le Monde, Le Monde Interactif, Telerama, Courrier International, employees, managers …) have spoken overwhelmingly (between 80 and 91%% for the Society of Editors of World) for the trio Pierre Berge, Xavier Niel and Matthew Pigasse. After the vote, will open exclusive talks with the trio BNP. Beforehand, prospective buyers are, as they had committed 10 million euro move before July 5 to cross to Le Monde's financial deadlines July 10 and have enough money to take all summer ."Then, in late July or early September a new supervisory board will endorse the negotiations and the deal should be finalized in late September or early October," said Gilles Van Kote.

Negotiations with Lagardère and Prisa

In total, Pierre Berge, Xavier Niel and Matthew Pigasse provide 110 million euros. Therefore, they will control 64.65% of capital. For the first time in the history of the world, workers will abandon the majority stake and control group. The trio "BNP" had taken the measure of the importance of this decision. That is why he insisted on preserving the editorial independence of publications group. Better, it should make a gesture in their favor.Pierre Berge has promised to create a foundation with 10 million euros destined to gradually increase the share of employees to 33%.

With other shareholders, Lagardère and Prisa, also diluted, dialogue should engage. Following the recapitalization, Lagardere will have only 5.86% of capital, and Prisa 5.1%. Lagardère cons grin and heart. In the vote, he refrained. "This is a position consistent with what we've always said. We did not oppose the rescue of the World while taking care to safeguard our interests, "responded Khiroun Ramzy, the group's spokesman. However, Lagardere clearly leaning in favor of the trio Perdriel, Prisa, Orange, with whom he had begun negotiations for the acquisition of its stake in the holding company and Le Monde Interactif. In total, he was to receive nearly 40 million euros. The trio "BNP", everything remains to be done."The investors must now specify their intentions. Everything depends on the proposals they will make us, "adds the group. However, the trio "BNP" remained unclear. If he says he must "return to the activity in the digital world", it does not specify the amount he is prepared to pay to redeem the 34% of Lagardère in Le Monde Interactif.

The other loser is the media giant Prisa Spanish. The group led by Juan Luis Cebrian came late in the battle alongside Claude Perdriel and Orange. He has to defend its interests in the holding head. But his stance in favor of an issue of the daily morning have undermined his bid.

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Bureau Veritas announced Tuesday the acquisition of Inspectorate, specialist inspection and testing of raw materials and subsidiary of British Inspicio. The transaction amounted to 450 million pounds (nearly 540 million euros) and should be completed in the third quarter of 2010.

Inspectorate, currently held by the investment company 3i, is also present on the testing of petroleum products and petrochemicals (59% of its turnover), metals, minerals and agricultural products.The company recorded 2009 sales of 246 million pounds (280 million euros).

In a statement, Bureau Veritas claims that the acquisition allows it to position itself as "one of the world's leading inspection and testing of raw materials," a buoyant market, "according to Chairman Frank Piedelièvre group, whose potential amounts to 5 billion euros, according to the group saving account payday loan.

Inspectorate therefore give "a new dimension to the group that doubles the size of its laboratory network (330 sites) and now offers a range of services the industry's broadest assessment of compliance."

Bureau Veritas says that the transaction will be financed through existing credit lines and newly negotiated. The group expects a turnover of around 3 billion euros in 2010.It amounted in 2009 to 2,648,000,000 euros.

Found 100 billion euros in three years. This is the government's objective to reduce the deficit from 8% to 3% in 2013, reiterated Prime Minister François Fillon on Saturday, which gave details of the proposed measures. "We have pledged by 2013 to reduce our deficit from 8% to 3% and all our efforts will focus on this priority. It means basically that should reduce the deficit of 100 billion by 2013, "he said during a meeting with new members of the UMP Salle Gaveau.

The $ 100 billion, "we (them) to find the half in spending cuts and half in revenue increases," said the head of government.The 50 billion euros in spending cuts will be made up of "45 billion by reducing public expenditure, 5 billion on reducing tax loopholes."

On the revenue side, the 50 billion do not result from increased taxes and levies, "said Francois Fillon. He bets on "35 billion upgrading after the crisis, loss of revenue cyclical. (…) As and when growth returns, revenues are growing once again, "he said. And the remaining 15 billion? They "will correspond to the end of the steps we have taken to boost the economy and have obviously not meant to last beyond this period of recovery," he added.

In May, Francois Fillon had already announced a freeze in spending value of the state but had not detailed the targets.These details are involved a little less than a week after Berlin has adopted a plan rigorously evaluated at 80 billion euros. France is under pressure from financial markets and rating agencies, who urged him to detail the measures to be taken to reduce debt.

"New sources of funding"

The Prime Minister also addressed the issue of pensions. While the government prepares to release his reform plan, Francois Fillon reiterated its intention to extend the duration of activity and pushing the "symbol" of the statutory retirement age to 60 years.

It will also seek new financing, he added. "Justice will lead us to seek new sources of financing because the effort must be shared by all," he said.Nevertheless, the government has temporarily waived taxing incomes over 11,000 euros per month, according to information from Figaro.

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"Maintaining the AAA rating is an objective" tense ", according Baroin

While Wall Street has ended sharply higher on Thursday evening, and the Asian stock markets move in the green, the Paris Bourse, which also took over Thursday evening colors, the trend should be confirmed on Friday morning, but surely more timidly.

The CAC 40, ending up over 2% yesterday, managed to climb beyond 3,500 points. Sign of the return of investors, the volumes are recovering. About 4.5 billion changed hands on the great values of the Paris stock exchange Thursday.

In Europe, the announcement by Jean Claude Trichet, president of the European Central Bank revised upwards its growth forecast for 2010 to 1% against 0.8% previously, has reassured investors.

Jean-Claude Trichet also reiterated its confidence in the euro, a currency "very credible".On the foreign exchange market, the euro, good barometer of market confidence returning the land to more than $ 1.21. On Friday morning, about 7:15, the euro does not move too much, and gold trading at around 1217 dollars per ounce.

Statistics follow

In France this morning, inflation will be unveiled by INSEE for the month of May, at the same time as the balance of payments in April (Bank of France).

In the eurozone, this balance will be issued for the entire quarter at 11:00.

While in the U.S., sales details in May, which will be published at 14.30, will be as usual well attended, and the second estimate of the confidence index from the University of Michigan for the month May, at 15:55.Five minutes later, it is the stocks and sales of companies in April will be known.

Club Med lots of red heads for China

Club Mediterranean in the first half of its 2009/2010 financial year ended in April with net income of 3 million euros, against 22 million loss a year earlier, in a European tourist market "sluggish" and despite the impact Icelandic cloud, "he said Friday in a statement. In addition, the group discusses with a Chinese group ready to open its capital, according to management.

EDF CEO Henri Proglio will meet this Friday, Gazprom CEO Alexei Miller to discuss the pipeline project Southstream. Alexei Miller said one option would be for EDF to take a 10% stake in Southstream.

Moreover, the computer giant HP has partnered with a subsidiary of EDF to provide businesses with "Pod", aka Performance Optimized Datacenter, installed computer labs in containers.

Lagardere Lagardere announced the signing of a Memorandum of Understanding for the final disposal of the television 17 to Bolloré Virgin Media.

The manufacturer Renault has confirmed the reports of Figaro on the appointment of Dominique Thormann the position of Financial Director Replacment Thierry Moulonguet.

Peugeot Thursday, hail crippled the manufacturer's plant in Sochaux. The group has not yet quantified the shortfall.6000 employees are laid off.

With STMicroelectronics Soitec could could hold the attention after the Semiconductor Industry Association (SIA) has estimated that worldwide sales of semiconductors will grow by 28.4% to 290.5 billion dollars in 2010 thanks to strong demand from emerging countries.

Banking Profession, held in the IIR, said that the regulation being developed in Basel will have a massive impact on growth, particularly in the euro area.

Societe Generale Kerviel At trial, the atmosphere is electric. The ex-trader annoys the President and General Counsel of the Company to show nervous.

Pharmaceutical companies across Europe, governments are spending on health to reduce their deficit. France is no exception. The government fell in April the rate of return of 200 drugs.He also announced a few days ago to further declines in commodity prices, in order to save 100 million euros by December.

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.

New thunderclap in the daily press. After the economic daily La Tribune and Le Monde in late May in the coming days, it was the turn of the Parisien and Aujourd'hui en France to seek a partner. Yesterday, the Amaury group acknowledged having asked the bank Rothschild and Co. to conduct a strategic review to examine all options to bring to the whole compound of general daily Le Parisien, Aujourd'hui en France, their printing, their distribution system (SDVP) and the governed. This announcement confirms the information revealed in the morning by the Lettre de L'Expansion. Le Parisien is facing a difficult situation and the need to invest heavily in growth drivers such as new media and online paris.With the help of the bank board, the group chaired by Marie-Odile Amaury consider all possible forms of partnerships, the simple pooling of resources to the partnership business, or capital. "Many policy options are under scrutiny. Special care is applied to research alliance in the new media or creating new products. A partial backing of Paris is part of the perimeter of the study but no decision taken yet, "states the group in a brief statement issued yesterday evening. Internally, the wording is "in shock … Little has filtered communication internally and few would actually believe even if the tension was palpable from the start in the fall of the chief editor," says one reporter.

The statement said however: "The family wants to keep Amaury majority control of his group to continue its investment policy and ensure its development as it has for a long time." All these activities would, as the group is profitable and coupled both titles – Le Parisien and Aujourd'hui in France – had in 2009 paid circulation of 488,553 copies France, down 4.7% (OJD).

Implemented in 2011

Another certainty, this strategic study does not include activities with sports daily L'Équipe and ASO, the organizer of sporting events like the Tour de France. The time that the strategic review being conducted and that strategic options are discussed, no concrete implementation should take place before 2011.

For several weeks, rumors spoke of a possible sale of the entire group Amaury.The refusal, in February, from the group to take the presidency of the Cooperative Parisian dailies in Presstalis had raised some questions. Groups such as Lagardère and Bolloré had then been cited as potential buyers. The Lagardère group is familiar with the file because already owns 25% stake in Amory, against 75% to the family Amaury. Last week, Arnaud Lagardere had also reiterated its interest in the family group, saying "buyer of all or part (…) if the family does not want it, we will respect and then go forth." Problem, its interest mainly concerns the sports industry (ASO), as he himself pointed out at the launch of its new sports center, Lagardère Unlimited. Arnaud Lagardere has any future lunch with Marie-Odile Amaury.

The Nikkei gained 0.24% timidly, to 10,260 points by 6:15, after having opened Tuesday's session up 0.76% for the Nikkei 225. While the broader Topix slid into the red, falling 0.3% to 917 points. On Monday, the Nikkei had slipped 2.17% at 10,235 points amid concern vis-à-vis the euro.

In Hong Kong, the Hang Seng has put forward more than 0.21%, to 19,756 points and the Singapore Straits Times 0.04%, to 2834 points. In Shanghai, the Exchange has started doing the yo-yo, before anchoring in the red: -0.64% to 2697 points.

Monday evening, the finance ministers of the eurozone met to discuss the single currency, which lost nearly 20% since late November 2009 including 13.5% since 1 January.The euro is a "credible currency, said on Tuesday, Jean-Claude Juncker, the leader of Ministers of the euro area.

If this decline in European currencies could help grow the Old Continent, mechanically, through the principle of competitive devaluation, foreign companies suffer a cost of more expensive imports.

Against the yen, the euro down 0.44% and also score 114.7 yen. Levels for 2009 and … early 2002.

The Bank of Japan lends to 0.1%

The Bank of Japan (BoJ) has announced plans to lend money at preferential rates of 0.1%, the interest rate, to companies investing in growth areas, the newspaper Asahi.The central bank should decide in principle on the plan at a meeting of its Monetary Policy Committee this week, before details of the next month, the newspaper said.

This project would support modest growth in Japan low fee pay day loans. In addition to promoting growth, the BOJ has taken steps in recent months to try and halt the deflation that has raged for over a year: It has increased to 20,000 billion yen (174 billion euros) the allocation to provide loans to very low rates to banks.

Back to profit faster JAL

The first Japanese airline Japan Airlines (JAL), currently under judicial restructuring, has set a goal of finding operating income from fiscal year 2010-2011, a year earlier than expected, says Mainichi newspaper on Tuesday.And, thanks to a plan to revive its business that includes an operating profit target of several tens of billions of yen (several hundred million euros) for the current fiscal year.The titles do cotent over $ 0.01.

At the Shanghai Stock Exchange, what are the values of the aviation sector suffering most: China Eastern Airlines: -4.55% to 3.33 Hong Kong dollars despite an increase in traffic in April, China Southern Airlines -3.77%, 3.32 HKD.

Moreover, the Japanese steel companies Nippon Steel (-2.4% to 326 yen) and Argentine Ternium (-2.93% to 33.5 dollars a barrel Monday) announced Tuesday that it plans to invest $ 350 million in common two and a half years in a joint venture in Mexico to manufacture sheets for the automotive sector.

This site eventually produce the equivalent of 400,000 tons "of galvanized steel sheet of high quality and high-grade" for the automotive industry in Mexico, including the Japanese manufacturers on site.