Sundial of world news

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.

ALSO READ:

Le Monde: the New Orange Obs and throw in the towel

In the battle over economic strategy, which raged in the country G8/G20 meeting in Toronto, Nicolas Sarkozy ranks clearly on the side of Barack Obama's hostile plans rigor precipitates. "For France, fiscal consolidation is a long-term need [...] the stimulus must be from 2011, gradually, depending on individual circumstances," said one EU source.

Favorable cures severe austerity in Greece, Portugal and Spain, Nicolas Sarkozy calls for budget adjustments "progressive" in France and Germany, from 2011, with "not too many taxes."

The fragile economic and financial worries Europe G8 and G20. "Our partners Americans and Canadians fear the impact of austerity plans on resuming" said one EU source.The health of banks on the Old Continent is also a major concern in the United States. "There's nothing to fear from that quarter. Our banks are very strong. The results of stress test in late July is going to cheer the markets, "say the Europeans.

Faced with the Americans, Germans and Britons facing the G8 steadfast defenders of rigor. "A sustainable growth can not result from a fiscal policy based on the debt!" Repeats Angela Merkel. "Our public finances are in such a state, we have no other choice than a hard adjustment," he defends David Cameron.

Within this debate, Nicolas Sarkozy wants to distinguish itself from its European partners. Recognizing the need to reduce fiscal deficits in France, he will not rush, giving priority to pension reform.If markets were not so vigilant, he would gladly own the warning of Barack Obama: "do not overdo it in 2010 … or 2011.

The warning on the accounts Krief Group launched by the auditors of the company may be only the first phase of legal setbacks Louis Petiet. Official Bulletin, the alert procedure "very advanced", according to "Echoes" is a prevention of business difficulties. Petiet Louis, through its group Bernard Krief Consulting (BKC)-since renamed Krief Group-has multiplied over the past three years the buyout on the brink of liquidation. And since early 2010, he faced great difficulties.

This is the case of Heuliez, which he eventually sold the shares to an investor, Charles Mirchi. The automaker, which Petit Louis has never made the 16 million euro capital promised to bar the commercial court, awaiting a new buyer.Other companies are being liquidated, as the chain of stores in Soho gadgets, or industrial Isotherma, Havre.

In Alsace, the former two problems DMC: DMC SA (ex-DMC thread) on one side and the other DMC fabric. Two companies taken over by Louis Petiet. The liquidators DMC SA before the Tribunal de Commerce de Paris. Louis Petiet has still not made the 8 million euros promised in the takeover of the company. Authorised agents would like the company is recapitalized by the current minority shareholders who would become the majority. Such an operation would be catastrophic for BKC to lose control of one of its only really profitable companies.'Stocks of DMC SA alone represent a real source of income for two years, "a close case.

In addition, an unsuccessful candidate for the redemption of DMC, the French manufacturer of textiles SA Blanchard, also before the court. It calls for the cancellation of the recovery plan by BKC and wishes to represent his own recovery plan. The court decided to consolidate the two cases and the next hearing will be held September 8 No faxing payday loans.

Broken Promises

Second case, the DMC Fabric, whose activities have been grouped with a sign of furniture, Authentica, within SAIC Velcorex. Louis Petiet hoped "synergies". Today, the liquidator "examines the responsibilities of Louis Petiet, including how he managed DMC Fabric and Authentica," said a source close to the record."Cash Authentica (advances paid by customers) would, a priori, was used to cover losses Velcorex SAIC," said the legal representative, which states that "it did nothing illegal, since it is the same company. However, this does nothing to the rules commonly applied by a transferee company in difficulty, meant to work on his recovery.

"After regaining Authentica, Louis Petiet did nothing for the company, not even changed the vehicle registration cards," said the liquidator. Louis Petiet highlights purchases of raw materials it was made for Authentica.What is relatively little in terms of commitments.

The alert procedure

The Commercial Code provides that the auditors (ACC)-expected to certify the company's accounts, can alert the president of a company if they find "facts likely to affect the continuous operation. The president has fifteen days to respond. Otherwise, or if the reply does not guarantee the continuity of the operation, the ACC is deliberating the board of directors (or supervisory) on the facts found. If the resulting provisions are not met or that the company's survival is threatened, the ACC establishes a special report. The Commercial Court may be entered. This can lead to legal redress.

ALSO READ:

"Corporate Bankruptcies cascade Louis Petiet

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 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 story accelerates. This Friday, the Japanese group Sharp has introduced a tiny touch screen, color, reproducing 3D videos. The big innovation is that this screen does not require glasses. A step that should be taken seriously. Unfashionable as it may eventually large screen televisions in 3D now being launched in the U.S. by Samsung and Panasonic but need to don special glasses.

However, to see the effect in relief, it is necessary to be right in front of the small screen, 30 cm apart. "We can only produce small screen in this technology. In addition, 12.7 cm diagonal. It must be well in front, otherwise the perception of 3D fade, "says Patrick Chardin, director at Sharp France. To develop its new technology, the Japanese group has improved its previous innovations.Three years ago, in Tokyo, Sharp has introduced an innovative technology which allowed three people to watch at the same time, a different program broadcast by the same TV, depending on the position of each face on the screen. Each point on the screen was broadcasting a different image depending on the viewing angle of the viewer.

According to this principle, with an image emitted for each eye, the semiconductor division of Sharp has designed its new 3D display device called an "interlaced effect. The additional cost compared to a conventional screen is not excessive.For the screen in landscape consists of a conventional LCD panel on which is placed a filter.

Nintendo

But because of its limited size for the 3D effect, "we focus on three markets: portable gaming devices, smartphones (note: mobile phones for surfing) and embedded screens, such as GPS in cars" said Patrick Chardin make quick cash.

Production should begin in September. One of the first objects that can use this technology should be the next portable game console, Nintendo 3DS, announced last week and promised for 2011. For its previous screens of the DS, sold 125 million units, Nintendo had already appealed to Sharp as a supplier.

Nintendo's next console will be presented in June in Los Angeles at E3.The Japanese group said the old games the DS can be reused on its future console. With 3DS, the group led by Satoru Iwata will take another step ahead of the Sony PSP (67 million), which was sold two times less than the DS. In addition, the CEO of Nintendo will reduce competition from the iPhone and iPod Touch which guests are on the market for portable game consoles.

Moreover, it could sell 78 million smartphones equipped with 3D screens by 2018, says DisplaySearch.For now, only one mobile is sold only in Japan by Hitachi, with a 3D effect without glasses.

ALSO READ:

"Notice of gridlock on the 3D screens

"SELECT CASE 3D, the new challenge of the cinema

"Acer and Asus launch PC relief

"VIDEO – The 3D TV is" the next revolution "

"High definition in 2009, the third dimension in 2010

The Minister of Agriculture and Fisheries went Wednesday to meet victims of Xynthia in Vendee and Charente-Maritime. Bruno Le Maire first visited an oyster farm in the island of R? is Tony Brin, to realize the damage caused by the storm the weekend. There, a scene of desolation was waiting after a giant wave passed over a dam three feet high and has invaded the fish ponds. "We will help the fish and shellfish industry already strongly felt in order to continue to live," said the minister.

Specifically, he presented a plan to aid three points for a total of 20 million euros. The bulk of the effort will focus on replacing equipment.This responds to a demand for professionals to enable them to restart their operations and be ready for the season getting ready now. "Especially our equipment that has been affected, such as sorters, the computers or the electricity grid, he says Tony Brin. I have even more checkbook to pay salaries, everything has been drowned by the rising waters, is tell you how we are. "

Lighten the load

Second point plan: relief of financial burdens of 1.5 million euros and finally the implementation of the national guarantee fund for agricultural disasters (FNGCA) to compensate for the loss of fish or shellfish. But on this last point, unlike the 1999 storm, which occurred at low tide and which has devastated oyster or mussel, the damage should be less important.It is funded jointly by government and professional organizations.

Another concern comes from the elver producers who fear their possible side effects of water pollution after they pass on farmland treated. In a scene of desolation, Bruno Le Maire has visited the farm of John Paul Rault, a young farmer Vendeen St. Rad?gonde-of-Walnut, who has lost everything, including his house, in the rising waters for payday loans bad credit . His case is not isolated as 52 000 hectares of land have been invaded by salt water after the passage of Xynthia. "It will take years and years for desalination," said the farmer. Bruno Mayor announced a plan to tens of millions of euros to farmers (see box below)."I shall return in a few weeks to see how its implementation takes place," he said.

A plan dedicated to farmers

A budget of several million euros to farmers. This was announced on Wednesday the Minister of Agriculture, Bruno Le Maire, the operators hit this weekend by storm Xynthia. In detail, two types of aid are considered. Firstly, a reduced specific financial burdens and also social. The state with the Agricultural Social Insurance Agency has raised 5 million euros for the first strand.

Then, after a case-by-case damage caused by Xynthia field, another package will be released under the National Guarantee Fund for Agricultural Disasters (FNGCA)."Given an initial estimate and according to recent experiments, this should be in the tens of millions of euros," said one familiar with the matter. The new aid will complement those of the plan emergency support and to the extent permitted by Brussels (De minimis 15 000 per farm). For their part farmers have asked for clemency for the administration, for example, identification of dead animals or statements in order to benefit from the CAP.

ALSO READ:

"SPECIAL – Xynthia, the aftermath of the disaster

"A range of measures to help flood victims

The largest U.S. bank, Bank of America, has experienced a greater loss than expected in the fourth quarter because of the cost of credit, says in a statement Wednesday.

Over the last three months of 2009, the bank recorded a net loss after minority interests of 5.196 billion dollars against 2.392 billion a year earlier, or 60 cents per share, while analysts on average expected a loss of 4 , 5 billion, or 52 cents per share. "Certainly it's disappointing loss to publish the fourth quarter. However, it should not overshadow our many successes, "said Brian T. Moynihan, president of Bank of America. Firstly, we repaid the U.S. government. Secondly, we strengthened our balance sheet through securities offerings successful. Finally, all our non-credit operations had a positive impact on our results.

Net banking income (equivalent of sales) of the bank, to 25.076 billion dollars, is also revealed in below expectations of Wall Street analysts who had forecast on average 26.84 billion in free business cards .

Bank of America has suffered a decline in demand for loans and "portfolio management debt" compared to a year ago while its revenue from market activities have strongly rebounded. "We are heartened by the resurgence of the economy for 2010, through the stabilization of our cost of funds. However, economic conditions remain weak and we expect that unemployment continues to rise. This will therefore penalize consumption and growth. "

Friday, JP Morgan Chase announced a net profit of 3.278 billion dollars (2.27 billion euros), a figure four times over the fourth quarter of 2008. Net banking income (equivalent to the turnover) amounted to 23.164 billion dollars over the same period against 17.226 billion in 2008. Levels well below expectations of analysts who had forecast at 26.2 billion. Tuesday, Citigroup posted a net loss of nearly 1, 6 billion against $ 27.6 billion in 2008.

READ ALSO: "U.S. banks confess their sins

Globally, the hierarchy for guidance in mergers and acquisitions is respected. In 2009, the U.S. Jones Day has recorded the highest number of cases, according to news site finanaci?res Wansquare. The British Freshfields Bruckhaus Deringer and Linklaters are close behind in second and third.

In Europe, Freshfields took the lead law firms, both in amount and number of deals advised. The former leader Linklaters earned second place in both categories.

For the French market, Cocorico! The French Gide Loyrette Nouel is spawning the second place, behind the British Linklaters and the U.S. to Jones Day.

The French game publisher Ubisoft video Wednesday revised downward its financial targets for its fiscal year 2009/2010 lagged, partly because of disappointing sales of some games and the postponement of several launches.

The number three European industry now expects sales for the third quarter of 495 million euros against 540 expected before, and 860 million euros for the full year, against 1.04 billion expected before.

Furthermore, the group, who expected a positive result of at least 70 million euros over the year, now provides a loss of about 50 million. Its business casual "(games for the family) loses a year to the next almost 160 million euros, a drop of almost 50%."Despite successes like Assassin's Creed 2, which is expected to reach 9 million units through March, or Just Dance, our very successful Christmas on the Wii, Ubisoft has not met its financial goals," says CEO Yves Guillemot , quoted in a statement.

Ubisoft announced it will refocus on its core franchises and games consoles Xbox 360 and PlayStation 3. It promises to last two outings a catalog of "very substantial", which should enable it, on the period 2010-2011, "to gain market share and improve (its) profitability."

Ubisoft lost over 9% in one week

The market, worried about developments in the industry have fully incorporated this announcement. At the Paris Bourse, the stock has indeed closed down 1.95% to 10.07 euros in a market almost stable (+0.02%). In five days, the stock has lost 9.12%.Its competitor, Electronic Arts, anticipated loss from 1.94 to $ 2.24 per share (cons – 1.2A $ 2.05 per share on the previous forecast) in its fiscal quarter ending March 30, for a turnover between $ 3.6 billion rather than $ 3.9 billion for its fiscal year.

Ubisoft is also penalized by the decision of the firm Sterne Agee analyst lowered his rating to "neutral" cons "buy" before. For the moment, "there is no reason to confirm a recommendation to buy, analysts say. The analyst firm also shown Aurel disappointed by sales of "Avatar: The Game", "well below" their expectations.They recommend to "sell" in their notes.

ALSO READ:

The CEO of Ubisoft spent Entrepreneur of the Year

"Ubisoft sales drop by half

"Ubisoft ski slope, 2010 looks better