Sundial of world news

The U.S. stock market should open up on Wednesday. Futures on Standard Poor's 500 and Nasdaq 100 advanced in effect respectively from 1.14% to 1323.50 points and 2336.50 points to 1.10%. Tuesday, despite a warning issued recently in the United States on sovereign debt, the New York Stock Exchange was closed in the green. The market had been carried by a handful of positive indicators, including the rebound number of building permits granted and housing starts in the U.S. in March, and earnings above expectations of Goldman Sachs and Johnson & Johnson .The Dow Jones gained 0.53% to 12,266.75 points, the Nasdaq 0.63% to 2306.77 points and the Standard & Poor's 0.57% to 1312 points.

On the foreign exchange market, the single currency rebounded, returning more than $ 1.44 the day after a sharp decline, helped by faster growth in activity in the euro area in April and the success of a Greek bond issue. Around 11:20 in Paris, the euro stood at 1.4477 dollars against 1.4334 dollars late Tuesday.

For his part ounce of gold surpassed $ 1,500. The yellow metal has in fact touched 1,500.70 dollars in Hong Kong Wednesday. His role as a safe intensifies as inflation and pressure on European and American debts are increasing.

On the macroeconomic front, except the American flag on home resales in March, no other figure is expected.However, corporate earnings will continue to lead the market.

Light on the technological

The side of values, the technology sector should indeed be at the party after the right figures published by two American giants, Intel and IBM-have for the first quarter pleasantly surprised investors by announcing better than expected results.World No. microprocessors, Intel has indeed released Tuesday after the close of Wall Street net income up 29% and higher expectations for the first quarter to 3.2 billion, a figure matched business "record" due to strong growth in all sectors.

For its part, the Internet portal américainYahoo! always said Tuesday after closing a marked decline in its profit and its turnover in the first quarter, mainly because of falling revenue from sponsored sites. The benefit of Yahoo has far exceeded analyst expectations of $ 223 million (-28%). The group's turnover fell from 24% to $ 1.24 billion.

Also note, according to Bloomberg, Bank of America (BAC) may split its private equity division estimated at 5 billion.For his part, Polaris Industries (PII) announced the acquisition of Indian Motorcycle for an unspecified amount.

Core Laboratories of his side recorded a first quarter revenue of $ 207 million up 10% over a year and expects a turnover of 215 to 220 million dollars for the second quarter.

CSX Corp. has announced first quarter earnings of $ 1.06 per share up 36% over a year and a turnover of 2.8 billion up 13%.

Juniper Networks also unveiled for the first quarter earnings per share of $ 0.32 and revenue of $ 1.1 billion up 21% year on year.For the current quarter, Juniper visa earnings per share 0.31 to $ 0.34 and sales from 1.13 to 1.18 billion dollars.

NRG Energy has announced its withdrawal from Phases 3 and 4 of the South Texas Project, and will depreciate its entire investment in Nuclear Innovation North America in the first quarter for $ 481 million before taxes.

Today investors expect another round of quarterly results to Wall Street. They watched figures including United Technologies, AT & T Wells Fargo or American Express.

This is a new thorn in the fund Colony Capital and Groupe Arnault, all holders of 14% stake and 20% of the voting rights of Carrefour. According to statements by Herve Defforey, a son of the co-founder of Carrefour, the Tribune this morning, he either would not vote for the demerger proposal proposed by the two shareholders at the next general meeting of June 21 "I'm just a shareholder in Carrefour. But I will vote no, "said Hervé Defforey daily. The fund Knight Vinke (1% of capital) had launched the hostilities in the first announcing its opposition to the project and has been trying to rally up to shareholders to his cause.

While the split in July 2010 with the activities of Accor IPO Edenred, his former branch in tickets and restaurant gift had convinced investors that Carrefour raises many more debates.The proposed restructuring of the retail giant is to introduce financial markets on the one hand, 25% of Carrefour Property, which houses its land assets, and secondly the entire share capital of its Dia (hard discount) .

To support the relevance of their project, the Carrefour group on Friday put a strong argument, namely the potential interest of private equity funds for Dia. According to the confidences of sources familiar with the matter told AFP, these funds could provide at least 3 billion euros for the hard discount subsidiary. Pending confirmation of a possible takeover, the soap Crossroads should not stop there, and new twists are not to be excluded before the next general meeting of the supermarket group.

Both parties actively campaigning

"To be approved at the General Assembly special projects division of Carrefour must obtain two-thirds vote of members present or represented," the newspaper said. Forcing the two shareholders to put their side of the maximum possible shareholders, focusing on the strategic value of their projects, many still doubt. On the other hand, the low participation of Knight Vinke fund forced him to campaign actively to achieve the 32% needed to block the project.

Depending on the participation of shareholders (present or represented) at the next general meeting, the votes that he should be convinced therefore vary between 15 and 25%, the Tribune analysis.But whatever the outcome, the high mass of the shareholders of Carrefour already figure among the hot issues to watch, when the big dance starts annual general meetings.

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The market Osram, the lighting is changing. Environmental concerns have indeed led authorities in Europe and particularly France, to decide the phasing out traditional incandescent bulbs. In France, only those under 60 watts are still allowed to sell, but their disappearance is already scheduled for December 31, 2012.

Our good old incandescent lamps are replaced by low consumption lamps, said compact fluorescent lamps (CFLs) and halogen "single pellet", that is to say the same shape as traditional bulbs no faxing 1 hour payday loans. "Today the market is largely dominated by these alternatives," said Antoine Gachet, an analyst at the marketing institute GfK. In 2005, incandescent bulbs still accounted for more than three-quarters of the market by volume. Last year, they weighed more than 36%. "

The Paris Bourse playing yoyo Monday. Already upset Friday by the earthquake and tsunami that hit on Japan, the Cac 40 fell back. After changing course several times in the morning, he sold 0.72% mid-term to 3900.59 points.

In London, the FTSE-100 5839.11 0.02% gleans points. The concern, however, is more vivid when the ignition Dax loose 0.56% to 6842.66 points.

Operators are reluctant while alarming news from Japan are linked. The Government refers to as a loss that would have a "considerable" on the national economy, adding that huge funds needed to finance the reconstruction of the areas tested.

Serious malfunctions at nuclear power plants in the region ravaged quicken concerns about the consequences of this disaster on all Japanese companies and the entire region.The Bank of Japan (BoJ) tries to calm markets by injecting funds into the financial system records. At midday on Monday, already 15,000 billion yen (131.6 billion euros) have been released. But this news has not been enough to reassure the markets of the region, primarily the Tokyo Stock Exchange, which has unscrewed from 6.18% at closing for its first full day of trading since the disaster.

Concerns from Asia should also largely occupy the mind for that day. Indeed, no major indicator except industrial production in the euro area in January, is expected Monday.It will wait until Tuesday for a news might make a difference in publishing in the U.S. index of house prices and the Fed decision on rates.

Oil and euro down

In this tense environment, oil appears down in electronic trading in Asia, the market worried about a drop in demand in the short term hit in Japan. Around 11:00, Brent North Sea crude for April delivery traded at 111.82 dollars and New York, a barrel of light sweet crude (WTI) let go two dollars to 99.16 dollars.

On the currency markets, the yen Monday morning in front flexes in other currencies. The intervention of the BoJ has helped slow the sharp rise of the yen against the dollar. Around 10:30 am Monday in Tokyo, the dollar went back to 82.20 yen after falling to 80.60 yen on Sunday, its lowest level in four months.For its part, the euro fell to 112.47 yen. Against the dollar, the European currency gained some ground. Around 11:45 am, the euro bought 1.3971 dollars against 1.3901 on Friday.

Renault, EDF and LVMH affected by the disaster

Renault: -3.15% to 39.47 euros, the biggest drop CAC 40

Nissan, Renault's Japanese partner in the Renault-Nissan, has closed four assembly plants in Japan and no site would reopen Monday. Nissan, the second Japanese manufacturer, manufactures 22% of its vehicles in the archipelago. Furthermore, the manufacturer faces a new twist in the case of alleged espionage. Dominique Gevrey, one of three security officials of the group, was remanded in custody to view this weekend.He is indicted for "organized fraud" and jailed in January following the dismissal last three frames of the group.

LVMH: -3.50% to 106.15 euros, PPR: -1.61% to 106.75 euros Hermes: -2.16% to 149.75 euros, L'Oreal: -0.70% at 81 , 07 euros

The luxury sector is likely to suffer the effects of the earthquake and tsunami that devastated the north-eastern Japan. The archipelago is the second largest global luxury goods market after the United States and elbow to elbow with China. For Hermes is the first market (17% of sales) while for LVMH, representing 9% of sales. The luxury division of PPR meanwhile 16% of its turnover in Japan. L'Oreal, for its part carries about 2.5% of its turnover in the country.

Areva (-8.91% to 31.75 euros) shows the largest decrease in the CAC 40 also affected by the nuclear risks in Japan.EDF (-4.51% to 29.20 euros) is also in trouble as Scor (-2.29% to 18.82 euros).

Bolloré put on Guinea

France Telecom: -0.61% to 15.38 euros

Orange and the Kuwaiti Agility will acquire a 44% stake in mobile operator Korek Telecom Iraq, announced Monday morning the French incumbent in a statement.

Bolloré: + 0.29% to 158.95 euros

The group on Friday signed a contract worth 500 million euros with Guinea for management of container port of Conakry, the capital of the West African country, state television reported.

Sopra Group: -0.63% to 71.05 euros

The group announced its intention to hire 2,500 people in 2011 in Europe, 1600 in IDUs in France in the consulting, systems integration and software development.

Altran: + 1.22% to 4.30 euros

The French group technology consulting has reported a net income Group share loss of 26 million.The group said to be in talks to divest all of its activities in Brazil. He anticipates continued growth at a high level in France in 2011 and continued improvement of its operating margin in 2011.

Vivendi: -0.10% to 19.73 euros

The group does not invest more than 6 billion pounds (6.9 billion euros) for the redemption of the capital of SFR held by the British telephone operator Vodafone, according to the Financial Times.

Note that the bank is well oriented: Credit Agricole (3.99% to 12.13 euros) is the largest increase at Societe Generale (3.34% to 48.31 euros), followed by Natixis (+2 , 74% to 4.21 euros) and BNP Paribas (2.39% to 54.41 euros).

Wen Jiabao's speech at China's parliament on Saturday took on the appearance of mea culpa. Chinese Premier, speaking at the 3000 delegates to the NPC, met for ten days in Beijing, acknowledged that the price increase was the source of calls for protests that flourished in the country. "We need to consider price stability as the priority of our macro-economic control," he said.

During the inaugural session of the annual meeting of the National People's Congress, Prime Minister described the inflationary expectations of "problems which are closely the standard of living of the population, the overall situation and stability of the country." Rising consumer prices rose 4.9% in January over a year.The government promises to reduce it to "4%" this year.

Always fight against inflation, the Chinese authorities want to implement "a prudent monetary policy," which will require the limitation to 16% of the increase in money supply M2, which includes the aggregate of currency in circulation, accounts demand deposits and savings accounts.

Avoid the shock wave

Even if the Prime Minister made no reference to the popular liberation movements that are shaking the Arab world, his speech illustrated the authorities' concern to avoid any risk of spread to China. "Some issues that are subject to strong reactions among the population have not been resolved completely.Food security is poor and some sectors are vulnerable to corruption "he acknowledged.

To fight against these problems, the government would "continue to pursue a policy stimulus. Efforts will focus on "rural development", "improving the level of the population" and developing "social sectors".

According to this discourse that determines the main directions for the country's official year, "the educational resources and lack of quality medical and their distribution is uneven." Moreover, "the property prices have recorded an excessive increase in some cities," said Wen Jiabao, who promises to develop social housing."Social contradictions raised by the illegal requisition of land and demolition of illegal houses have multiplied," he added.

Target of 8% growth

These investments will be in a GDP growth of around 8% this year and an annual increase of around 7% over the next five years. These figures, which marked a slowdown from the 11.2% GDP growth recorded during the last five years had already been discussed by Wen Jiabao in late February at the Forum on China Internet.

Despite continued efforts to invest, the government wants to reduce the budget deficit will be contained in "about 2% of GDP".

Warning against the challenge

When the Prime Minister recognized the inequality at the source of disputes, an editorial published by the Beijing Daily, official newspaper of the Communist administration, launched a warning against the calls for protest. "Everyone knows that stability is a blessing and a curse chaos," said the newspaper stating that the "disorder" that has shaken the Arab world "has led to a massive disaster for the peoples of these countries." "It is worth noting here or abroad, some individuals feeding on ulterior motives trying to trigger chaos in China, using the Internet to foment illegal gatherings," it said.Following an appeal to all Chinese citizens so that they "conscientiously protect the harmony and stability".

In recent weeks, dozens of Chinese dissidents have been arrested and police have threatened to deprive alongside dozens of visas to foreign journalists if they continue to cover "illegally" appeals from sites based abroad.

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Will it or not a meeting of the Congress of Versailles before the summer, for in the Constitution the "golden rule" of balancing public finances? The President of the Republic, supported this reform inspired by German institutions, wants to go fast.

On Monday, a minister even believed that Parliament would be convened at Versailles "by this summer." "The Elysee has asked the government to work in the preparation of a Congress by this summer. The date could be decided this weekend, after arbitration meetings, "said Patrick Ollier on Monday, Minister for Relations with Parliament. He said that "it is the nature of Nicolas Sarkozy to face the obstacle." Referring to the fact that approval of this text does not come naturally.But this Monday evening, the entourage of the Head of State did not confirm this hypothesis.

"Political"

The executive would like to pass this constitutional amendment before the Senate elections in September, when the left hoped to take the majority. But he must first obtain a vote in accordance of Assembly and Senate and three-fifths vote in Congress. Now the Socialists have already said they oppose the idea of incorporating into the Constitution the fight against the budget deficit.

This hostility makes it difficult to obtain a three-fifths majority vote of Parliament, required to Versailles high risk personal loans.In the previous constitutional review in July 2008, the text had been approved by two votes.

"The need to reduce deficits is primarily a matter of political will," said former minister Michel Sapin, the Socialist Party national secretary for economics to justify the group's opposition to the socialist constitutional reform.

The centrists, who have always waved the banner of the fight against deficits, are a priori in favor of such reform. "The direction is good, but it is as much a matter of political will that Constitution," said Jean Arthuis, chairman of the Senate Finance Committee, which wants the program law provided by the multi-year deals with three years rather than five years.

Assuming that the reform is not adopted, Sarkozy would find it easy to carry responsibility for the Socialists, a few months before the presidential election, the failure of a reform designed to fight against deficits.

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Tenants can expect to see their rents adjusted upward. The benchmark rents (IRL) reached 119.17 in the fourth quarter. Over a year, so it increases by 1.45%, according to figures released Friday by INSEE, the French institute of statistics. A large increase, the highest in almost two years.

In the first quarter of 2009, before the index indeed taken by 2.24% over the same period last year, before seeing his slow progress to become negative in the fourth quarter of 2009 (-0, 06% a year). The benchmark rents became positive again in early 2010, gradually increasing each quarter. Calculated according to the index of consumer prices excluding tobacco and rents, the increase is explained by the return to higher inflation which took 0.5% in December and was up 1.8% over one year.

The IRL introduced in February 2008, is the basis for the review of residential rents by private owners no fax payday loans. The landlord's contract provides an annual review of the rent – either on the anniversary date or at a chosen date with the tenant – can increase the rent based on this index. The increase may not exceed the change in the IRL. The increase will be 1.45% maximum, for leases entered into in the first quarter, the benchmark index to take into account each year to calculate the rent increase since the last published before the date of signature of lease.

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In the strata of the arms industry is following with interest the first initiatives of Alain Juppe, the new Minister of Defense. After fiscal 2009 boosted by orders of the Recovery Plan in 2010 and more tense, the priority is to preserve the industrial "skills and research and development (R & D), leaves to produce less in Europe" in the words of one of them. In times of budgetary difficulties, "we must not repeat the mistakes post-fall of the Berlin Wall when Europe has focused on the size of armies at the expense of research. Recall that in the early 1990s, France was ahead in the drones. All credits were cut. And today, we are lagging behind the U.S. and Israel. "

The Department of Defense, it is reassuring on this point.No question of sacrificing R & D: "The envelope will be maintained around 700 million per year until 2013, told the entourage of Alain Juppe. It also stresses that some programs are sanctuarized: deterrence, intelligence and observation satellites.

Windfall

However, the department does not deviate from its roadmap budget. He has already decided to postpone the renovation of the Mirage 2000D fighter aircraft and the launch of Scorpio (modernization of the Army). Indeed, from the military budget law (PL) from 2008 to 2014 adopted in 2008, the department's budget was cut by 1.5 billion euros over the period 2011-2013.The army could not completely escape the efforts required throughout the state.

For now, the cuts are limited because the Department of Defense relies on windfall revenues of 2 billion euros by 2013. This year it expects to sell 850 million of radio frequencies by July and 150 million of real estate. Real estate transactions seem quite feasible. The army will give the barracks Lourcine in Paris at the Ministry of Higher Education who will make a schedule to the University of Paris I and student housing. Other assignments are initiated in Nantes or Montpellier.

Regarding frequencies in Bercy should start bidding early this year. This time, the timing is off.Remains whether the target price is reached.

For if the expected revenues are not there, then "we will screen all equipment programs except R & D areas sanctuarized. There will be behind schedule and the renegotiation of payments, "it warns the Department of Defense. Everything will play next summer.

Consume without buying. A French entrepreneur has decided to apply this principle to children's toys. His website, Ecojouet.fr, offers parents of children aged zero to five years to lease three, four, five or even six toys over a period of one to six months. An opportunity for some parents, while many toys purchased in France each year end up in the trash.

"This idea came to me with the authorship, there is a little over a year. At the time I was in a period of career transition, I had left my business and I am wondering about my future, tells the figaro.fr Stéphane Cozic, founder of the site.By watching my son of ten months, in the midst of discovery, I realized it was going constantly from one toy to another, sometimes even he was not interested as their packaging! " a mess that gave the father the idea of providing toys for rent on the web.

The principle? Parents choose at least three toys, those of their choice, for a period of one, three or six months and the lease can not exceed six toys. Rates vary between 15.90 and 59.80 euros per month depending on the formula chosen. A savings, he said, 20 to 60% compared to a potential purchase in the supermarkets. An equation which becomes less advantageous from the second month's rent. Each prize includes round-trip delivery, batteries and cleaning toys.If the toy is returned to the supplier or broken with pieces missing, the consumer will however add to its base rate a penalty of about 80% of the value of the object payday loan lenders. Among the guests: "parents or unmarried couple" of "grandparents," but "tourists on vacation a few weeks in France."

Something for the planet

Beyond the proposed alternative for parents, Stephane Cozic also sees his small business a way to do something for the planet. "I propose a collaborative consumption which limits production because toys are reused," he enthuses. Another positive point he said: this system enables learning to share her child, explaining he would forward his latest toy to another child, who will give himself to someone else, etc..If crying spells or if the object has really enjoyed his child, it is possible to buy it at a preferential price.

Since launching its website, Stéphane Cozic been a steady increase in the number of its customers. If some of them do not renew their orders, he has over a hundred regular consumers. A business that this father is not the only one sniffing. Three other sites currently offering the same type of service for matching fares.

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Between Christine Lagarde and Baroin, many in recent weeks, trying to play the theme of a "Trading Places". Some imagined that Bercy hitherto divided between an economic hub and a center budget would be merged back into one entity, forcing one of the two to give place to another. Finally, it has not happened. Christine Lagarde Minister remains the Economy, Finance and Industry and Baroin retains the post of Minister of Budget and Public Accounts. The latter – which is depicted as prime minister until recent days – inherits the passage of a nice consolation prize by being named spokesman for the government.

The cohabitation between the two ministers will therefore continue until the end of the quinquennium. For better or for worse.For one, the other who have hitherto shown little of great complicity, will have to come together on one of their shared jurisdiction, taxation. They will be responsible for carrying out one of the last quinquennium of economic reforms, politically delicate: the abolition of the tax shield and changing the tax on capital. Two faces for reform? This is one of the many oddities of the administrative division of Bercy in two: Christine Lagarde is responsible for tax policy and Baroin as boss of the Treasury, is responsible for collecting the tax. Both will also have to find the right partition to manage the French public finances at a time when the debt crisis threatens the entire euro area.For if Baroin is responsible for the purse strings is Christine Lagarde, who defended France in international fora, in particular the Eurogroup …

The choice of the latter to maintain its position has just imposed on the head of state for these international issues. In upholding it, Nicolas Sarkozy made the choice of security in a time when France takes over the presidency of a G20 very divided on the issue of exchange. After a slow start, Christine Lagarde – former corporate lawyer in a U.S. firm – has emerged in these summits as a skilled negotiator able to find compromises in the most delicate moments. More comfortable in English than in French, she has forged in three and a half years, ties with foreign counterparts who respect it.The renewal yesterday of a woman who until 2005 lived in the United States and made a career in private, it will include in his way, his name in the Pantheon of Bercy. When she leaves the department in May 2012, it will go down in history as the Minister of Economy who had the greatest longevity in that post under the Fifth Republic to Valery Giscard d'Estaing and Pierre Beregovoy. Performance significantly, whereas during the last fifty years finance ministers remained on average eighteen months in office. At a time when many criticize the lack of real change in this new government, then the status quo is rather to emphasize …

Besson, Lefebvre, Lellouche and Tron join Bercy

Alongside Christine Lagarde, Eric Besson is appointed Minister of Industry, Energy st in the Digital Economy.The Minister of Economy will also be assisted by two Secretaries of State, Pierre Lellouche and Frédéric Lefebvre, respectively engaged in foreign trade for the former, while the second will deal with the Trade, Crafts, SMEs, tourism and services, the Professions and Consumer Affairs.

Baroin him, retains the Department of Budget, Public Accounts and State Reform, and sees its expanded portfolio for the Civil Service. It also caps the cap critic of the government, and leaves as president of the UMP, which amounts to Jean-Francois Cope. Georges Tron, which remains Secretary of State for Public Service, it is now attached.The job joins the portfolio of the new Minister of Labour and Health, Xavier Bertrand.

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