Sundial of world news

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.

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).

The rescue of Greece did nothing. Investors remain worried in Europe: the CAC 40 lost Thursday more than 2.2% and broke the 3,600 points, the Frankfurt Stock Exchange fell 0.81%, close to 5900 points, the London Stock Exchange has folded 1.52% to 5260 points.

In the European storm, which contaminates the morale of investors around the world – in Asia, markets deep into red, and Wall Street has suffered more heavy losses – the euro continues its downward trend.

The fears of the contagion of the disease are increasing fiscal Greek daily.If the EU, the IMF and Athens agreed to "save the country from bankruptcy last weekend, the panic was due to global finances since the beginning of the week.

On Tuesday, the rumor "murders" that Spain could ask 280 billion euros in the IMF and could see its rating deteriorated by Fitch and / or Moody's has dampened the markets. Madrid and ratings agencies have denied. S & P himself has lowered its rating last week.

Then Wednesday, the storm came from the threat of degradation of the sovereign debt rating by Moody's from Portugal.

On Thursday, Jean-Claude Trichet, president of the ECB (European Central Bank) has failed to reassure markets quick cash.The Ibex-35 index of the Madrid Stock Exchange ended down 2.93% and the Lisbon PSI 20 downgraded from 2.37% to 6824.8 points.

The Athenian has taken place, the colors, gaining 0.98%, despite the strong social tensions in the country.

The euro to 1.25 soon

Since the euro has broken the support of 1.3280 earlier this week, the single currency dipped down. On Friday, it dropped below $ 1.27, to 1.2659 dollar per euro, far from 1.5144 dollars reached November 25, 2009. The Euro is at its lowest in a year deal with the sixteen major currencies in the world, and been fourteen months against the dollar.

Since 1 January, the single currency has dropped 11.4%.

"The next support is at 1.2450 dollar," recalls the president of Saxo Bank, Pierre-Antoine Dusoulier, and ensures that could be reached "very soon".

If the euro remains at levels "healthy for the European economy, this decline reflects the magnitude of the crisis in the Old Continent. Such differences in scoring so little time, are accustomed closely watched by the European Central Bank (ECB).

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"SPECIAL CASE – Greece, a challenge for Europe

The standoff between Apple and Adobe is a rotating record. In the U.S. antitrust authorities are taking a close look at Apple, and are investigating whether the refusal of Flash on the iPhone, and iPod touch iPad is a barrier to competition. According to the Anglo-Saxon, the Ministry of Justice and Federal Trade Commission (FTC) study the desirability of launching a formal investigation and discuss the distribution of the proceedings.

These are a few lines slipped into the contract for the next iPhone software, which alerted the authorities of the competition. Since one month, Apple requires application developers for its mobile devices to use its own software development. This decision led to the banishment of a handful of tools unofficial iPhone development.Including the Adobe Creative Suite 5, which was designed to create Flash applications.

In an open letter published last week, Apple CEO Steve Jobs has explained the reasons which led to the prohibition of applications developed with other development interfaces. Apple, he said, wants the software for iPhone take advantage of all the functions of the smartphone. Requirements hardly tenable with Flash, which focuses on compatibility with a wide variety of devices (phones, computers, shelves, televisions), rather than optimizing for one of them.

"Obviously anticompetitive"

Adobe, meanwhile, accuses Apple of foreclosure applications on the App Store for its own benefit. "What it does is clearly anticompetitive," responded David Balto, a former head of the FTC. But the issue divided the experts.Another former head of the FTC, more nuanced, felt it necessary to show that Apple is dominant in this sector. Or prove that its new rules affect the consumer.

No stranger to antitrust proceedings against its rivals, including Microsoft, Apple has in any case rarely found in this position of defendant. But in Mobile, where he became the number one American, the positions have changed. Last year, the FTC had already interested in its policy of banning applications on the App Store. The acquisition of the mobile advertising AdMob for Google is also under investigation "push". A potential deadlock that would serve both the interests of Apple, which launched its own offering, DST.

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 CAC 40 gained 0.49% to finish at 4053.94 points, its highest level since the beginning of the year. Frankfurt has won 0.27% and 0.62% in London.

After four days of Easter break, European markets greeted the resumption of job creation in the United States, announced last Friday as well as good numbers of activity in services and real estate published in recent days.

U.S. markets plying highs not seen since late 2008, however, regained their breath. The day before, while Wall Street took note of good statistics published during the week end, the Dow Jones closed up 0.43% and the Nasdaq had allotted 1.12%.

After this beautiful hike, investors preferred to play the card of caution before publication in the night "minutes" of the Fed.A document that transcribes the discussions that took place at the last meeting of the Monetary Policy Committee of the Fed and many analysts imagine animated. Although directed at the opening, the Paris market has reduced its earnings in mid-session, affected by Wall Street and by new concerns about Greece which weighed on the euro.

Raw materials and surging oil

On most major world stock markets, the values related to raw materials and light winds were driving the increase. The latest U.S. statistics have dramatically raised prices. The barrel is trading around 86 dollars in New York, on the summits of 18 months!

In Paris the title of the mining company ArcelorMittal has spent virtually all sitting at the head of the CAC 40 with a gain of nearly 4%, followed closely by oil services Technip and Vallourec disputed second on the podium.On the deferred settlement (SRD), Eramet jumped more than 7%. The title was borne by a positive note, analysts at Exane BNP Paribas, which have raised their price target to 260 euros against 175 previously.

About to change hands, the London department store Liberty has recovered dramatically last year. After ten years of losses, the Corporation generated positive operating income, while net income remains in the red (loss of5, 14 million pounds, or 5.71 million euros), due to debt and amortization important. The turnover, he flew 20%, A59, 6million pounds (66.26 million euros) in a context that difficult to eat.

Liberty is therefore in better shape, while its owner since 2000, the real estate magnate and hotel Richard Balfour-Lynn, announced in the middle of last year its intention to sell.

Among the candidates, the investment fund Capital BlueGem seems to hold the rope. Led by the former head of Merrill Lynch Global Private Equity, Marco Capello, he would have offered more than 40million euros.Much more than the other contenders, which include Robert Bensoussan, the former leader of the Jimmy Choo shoe, or the Chinese textile giant Li & Fung. Discussions in the home straight, could result in the month of April.

Liberty is a non-standard British heritage. En1875 Arthur Liberty opened his bazaar East India House on Regent Street between Piccadilly and Oxford Circus cash till payday. The Tudor style building is constructed from wood of two ships of the Royal Navy. This beautiful building has just been sold by a group Liberty Property German 46millions books, teaches becoming tenant of the premises. Inside the store, marked by a maze of elegant woodwork was redone last year.There is a sharp selection of fashion products, design and beauty.

"Avant-garde and accessible"

"We refocused on the cutting edge and accessible, with original designers not found elsewhere in order to rejuvenate our customers," says French of Geoffrey Labourdonnaye, former Christian Lacroix, who runs the company. This strategy of "renaissance" that he initiated continues to pay: he said the first quarter of 2010 shows trends "excellent", higher than last year. Liberty has refocused on its flagship store, after closing its Annex district of Knightsbridge. Moreover, the brand is known for its floral fabric that made the heyday of Cacharel, again in full in the trend. Sales of printed Liberty, which weigh one third of total revenue, surged DE23% in 2009.

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.

Economic Meeting Friday and Saturday in the Canadian North, while financial markets were concerned, particularly in Europe, the drift of their deficits, major fundraisers of the G7 (U.S., Canada, Japan, Germany, France, Italy and United Kingdom) maintain the cap. They pledge to continue their respective recovery plans. For its part, Europe will address itself the Greek case without recourse to the International Monetary Fund (IMF). Furthermore, a tentative agreement in sight to introduce taxation of international banks.

These are the three conclusions of the meeting of the G7 major fundraisers – Finance Ministers and Central Bank Governors – Iqaluit. A place almost inaccessible, forcing many ministers to use private jets.The Government of Canada wanted to reaffirm its sovereignty over the Arctic region.

An international taxation

As the host, Jim Flaherty, Canadian Finance Minister, was particularly prescriptive. The problem of Greece should be "managed by the European Union, not by the G7," he insisted to reporters while their European colleagues were reluctant to speak. As chairman of the Eurogroup Jean-Claude Juncker has formally denied the idea that Greece might need money from the International Monetary Fund. As for Jean-Claude Trichet, ECB president, he again expressed his confidence in Greece "to take all actions necessary" in order to reduce its deficit to 3% in 2012