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The alerts about the financial health of Spain were further strengthened Wednesday after the revelations of the Spanish newspaper El Economista. According to business daily, the European Union and the International Monetary Fund are preparing a rescue plan for Spain, providing a credit line of between 200 and 250 billion euros. The announcement of a forthcoming call for help had already returned insistently in recent days in the German press. Information that Brussels and the IMF have strongly denied Wednesday.

The announcement of a visit by IMF Managing Director, scheduled for Friday, has added to the panic. Although Dominique Strauss-Kahn said Wednesday in Paris that it was only "a working visit". To cut short the rumors, general manager told AFP he goes to all European countries."I'm in France, is there any rumors in France? I'm going to Italy. Is there any rumors in Italy? "He also downplayed the financial problems of Spain at a conference on Europe and China:" It is also said to exaggerate it a country that has great difficulty and yet the debt is 53% of GDP, which is relatively modest. "

Labour Market Reform

The Spanish head of government has also applied to reassure. Spain is a "country solvent, solid, strong and with the international credit, said Wednesday Jose Luis Rodriguez Zapatero before the Spanish Parliament. The Economy Minister Elena Salgado for his part denied that Brussels has put pressure on Madrid. Support for the Spanish cause is from Paris."We see no reason to be concerned for Spain, and there is no subject in the Spanish agenda of the European Council, it was said at the Elysee.

These multiple statements have not been enough to calm markets that have remained very nervous. The Spanish rate in a decade rose 10 points in the day 4.8%, approaching levels Portuguese. The yield spread between German and Spanish titles to ten years to 223 basis points on Wednesday, a record, as investors consider the Spanish debt more risky. The motion of no confidence falls ill in Madrid, which must issue this morning 3.5 billion euros of bonds to ten years.

The concern of the market relates to both the country's financial situation and the capacity of economic recovery.The government on Wednesday passed a labor reform, considered essential for revitalizing the job but remains highly contested by the unions.

In a report released Wednesday, the Bank of Spain insists on the need to implement "as quickly as possible" of economic adjustment measures to increase the competitiveness of the economy Hispanic counter the drop in employment and deterioration public finances. But the Spanish savings banks, the Achilles heel of the banking sector, require 11 billion euros to the state for further restructuring.

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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.

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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 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.

The accounts of the first quarter of Compagnie Generale de Geophysique-Veritas (CGG Veritas) illustrate the difficult trading conditions which prevailed in the second half.

Specialist Geophysics, whose clients include oil and gas companies, released on Wednesday morning a symbolic net profit in the first three months of the year: 1 million dollars, 760,000 euros. It was 5 million in the fourth quarter 2009 and 71 million over the first three months of 2009.

Another sign of weakness to the group led by Robert Brunck, operating profit of 37 million dollars (28.5 million euros) between January and March 2010, which fell by 33% compared to the previous period and is and divided by more than three compared to first quarter 2009. Operating margin also exited at 5%, against 7% and 15%.What is much less than the operating profit expected by analysts of Gilbert Dupont (7.5%).

For the CEO of CGG Veritas, the rest of 2010, increased investment in exploration and oil production continues, "and will gradually lead the market upward seismic. A recovery that will benefit from first Sercel, the seismic equipment manufacturing industry (32% of sales), the group said.

The stock price in great form since the beginning of the year

This quarterly publication disappoint Wednesday: CGG Veritas shares fell by more than 7% at the Paris Bourse.They cotent to 15 hours, 20.3 euros.

But since the beginning of the year, the increase in stock price is still high at almost 43% against a background of positive recommendations from several consulting firms, mostly optimistic about the prospects of CGG Veritas.

Like Bank of America-Merrill Lynch, which raised its price target on the value of 20-27 euros, saying that "the average life span of the fleet grow from 18 years in 2007 to 11 years 'By the end of 2010, with an average number of streamers (a tool for measuring the seismic data, Ed) per vessel increased by 10 to 12 by 2012 " flexcheck cash advance.What, according to the broker, expect "good surprises at the margins.

Morgan Stanley also recently referred to above – 20 to 22 euro – showing that the oil services industry evokes options included about $ 310,000 per day for vessels to be used in the third quarter of 2010. In other words, prices rise by 40% since a ship costs about $ 220,000 the day at acruelle.

On Tuesday, Gilbert Dupont reiterated his advice to "accumulate" CGG Veritas shares, and recommends to hang over the quans profits reach EUR 25.5.

Bourbon sign a big contract in Brazil

The Bourbon Group, also specialized in oilfield services, announced on Wednesday morning a turnover in line with expectations, fell 1% to 236 million euros.

The group also announced it has won a long-term contract in Brazil, estimated by Natixis to about 100 million euros of turnover split over periods of contracts 3 to 8 years.

This is a contract for 13 new vessels (1 and 7 PSV AHTS type liberty for offshore continental and five crew boats) that will allow it to "almost double its size in the country by the end of the year, "said the broker.

In the first stock exchanges, securities Bourbon drop 1.45%, to 31.65 euros.

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

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

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

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

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

The crisis has not spared the expatriates. These work situations envied, long associated with numerous benefits in kind, tend to reduce to a trickle. As a result of depressed economic conditions, but not only. For fifteen years, companies have committed an evolution of their expatriation policies: fewer executives sent abroad, fewer benefits included in the "package", and more difficulties encountered by the expatriate his return to France … The status tends to lose its luster.

"The underlying trend is downward in the number of expatriates for the benefit of local cadres" confirms Paul Mercier, head of the Africa region at Michael Page Africa. Less expensive, these executives are also less difficult to find.Some areas of Africa or Asia excepted basins provide local jobs because of what fill the needs of enterprises at lower cost. "We are witnessing a competition between increasing local and expatriate" is also Claude Mulsant, CEO of Magellan Circle. Comparing the most unfavorable to the former.

Costly benefits

For if the expatriate benefit of all contracts under local law, this status also gives them several advantages, sometimes very expensive for the company.Notably, the "package" negotiated by the expatriate before his departure, may involve the payment of housing, schooling for children, the French social security in addition to the host … "With the crisis, companies have been particularly attentive to reduce costs, and therefore significantly reduced the benefits offered by the "package", "Analysis Paul Mercier payday loans online . "The premiums have decreased, as the standard of housing available" confirms Claude Mulsant.

Jacques-Olivier Meyer, CEO of HR firm Intelfi International, also found that habits have changed. "The crisis has reflux number of expatriates in some areas, including Asia," noted he.And these returns have not always been without difficulties: "Some expats have found themselves pushed out on their return to France," remarked he. More generally, it is an average of expatriation down 5 to 3 years observed by Jacques-Olivier Meyer last ten years. Thus a fall in the number of expatriates who leave within three years after their stay (only 1 / 3 retentent experience). "The expatriates feel that conditions are less favorable than in the past," said he.

A threshold incompressible

So, farewell expats? Certainly not, answered Paul Mercier. For some functions can do without the experience and corporate culture of these executives preferred. "When the business is established, local officials can often replace expatriates.But to establish a subsidiary, a new factory or make an investment that requires export of know-how, the expatriate remains indispensable, "said Paul Mercier. Jacques-Olivier Meyer goes even further: "With the crisis we have reached an irreducible minimum. I do not see how the numbers could still be reduced …. "

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 . The President of the modem, Fran?ois Bayrou, has raised an "affront to the principles of our Republic". In November, Christine Lagarde had said before the Senate Henri Proglio not touch two salaries. The UMP MP Val?rie Rosso-Debord, close to Fran?ois Fillon, acted "very shocked" by this combination. Asked in the National Assembly by the Socialist deputy Christian Eckert, Christine Lagarde said in the heckling of opposition. "The president of EDF is not paid more than when he was boss of Veolia.He must face reality: there is a market, competitors, a world that has changed, "said the minister, who recalled that" the conditions in which Henri Proglio has agreed to join the group EDF were twofold: to retain non-operational role at Veolia and devote his full time to EDF.

According to the firm Proxinvest in 2008, an Executive Chairman of the CAC 40 gained 3.6 million euros. A non-executive chairman who presides over a board, 864 225 euros.