World News, Financial News, Breaking US News

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"France Televisions: Pflimlin takes command

The association UFC – Que Choisir has just published a study on 3G mobile phone plans denouncing "the false promises of unlimited Internet. According to this study, 41% of consumers are not satisfied with the 3G connection on their mobile phone.

The association of consumer advocacy focuses on two points. First, it denounces the bridle in all mobile networks operators and found that the rate (or velocity) is deficient in all mobile operators. "59% of the reported rates do not exceed one megabit per second when the 3G theoretically allows a throughput of 7.2 megabits" said Edouard Barreiro, director of studies at the association of consumer protection.

Second, the study notes that the nature of the packages called "unlimited internet" is often questioned by users.Indeed, how can it be considered an access to the Internet access to a network crippled (no VOIP or P2P for example) and sometimes (eg in some packages of Orange) excludes even download emails?

In this context, concludes UFC-Que Choisir, it is not surprising that 41% of users are dissatisfied with their 3G connection payday loan lenders. And the association calls on governments a regulatory framework in three points. Firstly, the operators use the term "Internet" to refer only to universal access to all content. Secondly, they cease to call 'unlimited' offers subject to a quota of data exchanged.Finally, the operators are required to provide their customers with a clear and accurate information on the characteristics of service (speed, coverage, network saturation, etc..).

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"DOCUMENT – survey in its entirety

This Wednesday should be placed under the sign of the decline in Paris at the opening, according to the indices that predict a future decline of 1.2% in early trade, and while the CAC 40 seems to resist breathlessness on ambient exchanges.

The leading index has managed to maintain the 3,700 points on Tuesday evening, but the threshold should not take from the gong.

In Europe, stock markets have made concessions on Tuesday after nine sessions chained up on. Announcing the easing of exchange rate policy of China, made Saturday, had pushed world stock markets Monday. The first steps in this direction have been given yesterday and Wednesday, with two cuts in a row the central rate against the dollar. But in exchange, the effect was short-lived. And on Wall Street, poor statistics on the front of the immmobilier has cast a chill on the market.So, this morning, the main financial centers of the Asia-Pacific are following suit.

At around 7:30 on Wednesday, the euro is at equilibrium after fell Tuesday. This rating 1.2270 dollar.

Economic News Authority

In France, the business climate in the French manufacturing industry fell slightly in June, according to the business survey released Wednesday by the INSEE. The synthetic indicator has lost two points to 95, its first decline since February, when economists on average expected stability.

At noon, the Court of Auditors present its report on the situation and prospects of public finances.

In Germany, the GfK consumer barometer, always watched closely, will be visible at 8:10.

In the euro area, the first estimate of the PMI will be unveiled at 10:00.

And the United States, 16 hours, will be made public promises of home sales for the month of May, after a bad real estate statistics published in the ninth Tuesday: – 2.2% in volume last month, to 5.66 million units annualized.

The traditional weekly crude inventories will be available at 16:30.

Finally, this evening after 20 hours, the Monetary Policy Committee of the Fed will issue its statement.Highly regarded by investors, note any change in the discourse of the Federal Reserve.

The rate strategists believe that Societe Generale U.S. Federal Reserve will raise its rates faster and stronger than expected by the market and call for caution on U.S. government bonds.

Societe Generale wants to Kerviel lost 4.9 billion

Societe Generale will call Wednesday Kerviel just 4.9 billion euros in damages, a record amount corresponding to the loss she attributes to "fraud" of its former trader. Yesterday, the former CEO of Societe Generale, Daniel Bouton, has admitted "failures in the control of the bank during his testimony before the Tribunal of Paris.

L'Oreal Paul Bulcke, Nestlé CEO, said in an interview with Reuters that his group had no plans to change the status quo in the capital of the world's number one cosmetics line with the Pact of shareholders that binds to the Bettencourt family.

Alstom Alstom and Areva does not want to marry with Areva. "To dance the tango, it takes two. Areva does not really want to dance. We no longer so eager to dance ourselves, "Patrick said Tuesday Kron, Alstom's Chairman, at the general meeting of shareholders.

Total Total and oil stocks are worthy of attention.The International Atomic Energy Agency (IEA) publishes 10:30 prospects of markets for oil and gas.

ArcelorMittal the world's number one steel company, announced Tuesday that the apparent demand and actual demand for steel would remain positive in the second half of the year, even if they should show a slowdown during this period. Lakshmi Mittal, the CEO that the slowdown in demand was due to seasonal reasons. The boss also said he did not think the steel industry return to its pre-crisis level until 2012.

EADS Airbus forecasts a near-doubling of its production of A320 aircraft in China, 48 aircraft in 2012, said Zhao Haishan, an official of the manufacturer in Tianjin in the north, was quoted by the Xinhua News Agency .

The group Vivendi has denied an Indian newspaper Economic Information Times that he is in talks with Reliance Communications to take a 26% in the second mobile operator in India. [

Insurance Axa, CNP, Scor … : Values of insurance will also be regarded as the French Federation of Insurance Companies (FFSA) releases on the market situation and its prospects.

Banks The banking sector remains to be monitored throughout the session. On Tuesday, he suffered a spate of bad news.In addition to degradation of the note in the long-term debt, BNP Paribas, Credit Agricole said the cost of risk on its Greek subsidiary Emporiki would weigh 450 million euros more than expected. The BNP Paribas has yielded 1.92% and that of Crédit Agricole SA 4.69%.

Discussions on a tax credit and tighter prudential rules also weighed.

The Renault-Nissan automaker Nissan CEO Carlos Ghosn, said he received 890 million yen (8 million euros at current exchange rates) for 2009-2010, making him one of best paid bosses in Japan. Carlos Ghosn made the announcement at the annual general meeting of shareholders of the Japanese group, held Wednesday in Yokohama (Tokyo area).This does not include fees paid 1.24 million euros in 2009 he has received as CEO of the automaker Renault, Nissan's largest shareholder with 45.7% of the securities.

Peugeot Peugeot Italy said Tuesday it has signed an agreement with Sorgenia first private operator in the Italian electricity market created and controlled by Rodolfo De Benedetti, for the launch of its Ion Electric Vehicle in Italy.

France Telecom, the company announced Tuesday it would invest about 515 million euros over the next five years in its network in Switzerland a few weeks after abandoning its planned merger with Sunrise, blocked by the competition authority of the country .

Nexity Group has announced the launch of its buyback program of up to 4.5% of its share capital, which will be followed by cancellation of shares they have acquired as well.This operation is designed to optimize the management of the group's balance sheet.

"No, no, no, no. By repeating his answer, Nicolas Sarkozy has made to assert emphatically that the fate of Spain was absolutely no concern for him and for all European leaders, meeting in Brussels on Thursday. "No, there is no concern. We fully trust the Spanish authorities. There is no problem, "he said. The French president and wanted to put an end to rumors suggesting that the country of Jose Luis Rodriguez Zapatero will soon get similar assistance to that granted to Greece.

The Spanish head of government has also dismissed the "unfounded rumors" about the fragility of the Spanish financial sector."There is nothing better than transparency to demonstrate creditworthiness, to give confidence," he said.

"This is an analysis that we have 27 to make, which is shared by the IMF, the European Central Bank and the European Commission, Nicolas Sarkozy repeated. "I prefer to make this short answer. Otherwise, I can already foresee the reaction of markets, "has entertained the head of state.

"Defining an Economic Strategy"

The president has focused instead on the organization and objectives of European economic government for which he pleads with Angela Merkel. "It is legitimate that the Heads of State to take decisions in that they have an interministerial allowing them to make decisions in matters of competitiveness," he says, while the Commission President José Manuel Barroso, the European Commission wants to have its say."The Commission has a prominent role but is not she who is in charge of such decisions," decided the President of the Republic.

"The idea of economic government does not only address budget. It will develop a strategy for competitiveness, covering topics such as research, law office, universities, a strong and sustainable growth, "said Nicolas Sarkozy. "We are only at the beginning of the concept. The words 'economic governance' were taboo still four months ago. But the idea is gaining ground, "he was glad.

The tax credit is gaining

In addition to this question, the president addressed a wide consensus about the tax credit. This will be applied in European countries, in order to "contribute towards a fund to ensure that taxpayers and investors that what happened will not happen again," said Nicolas Sarkozy.Regarding the tax on financial transactions or financial markets, "the issue is unresolved. We will make decisions based on the major players in the G20. The idea of a tax will indeed be defended by the European Union at the summit to be held late June in Toronto. "This is a major challenge, but the fee must be applied to the global scale for more efficient," said President of the Republic.

In the field of transparency, the Council also decided that the results of stress tests (stress test) will be issued, bank by bank, in all countries before the end of July. "And in order to avoid new psychodrama.

Strengthened sanctions in the euro area

Concerning the Stability Pact, the European Council decided that it should be strengthened for greater "financial stability"."There will be penalties for those who do not respect the commitments on debt. The fine is not the best solution. With Angela Merkel, we uphold the suspension of voting rights.

Not to mention consenus on this last point, the head of state has simply stated that "several countries have requested that the penalties are the same for all members." Nicolas Sarkozy also said that "sanctions and obligations must be more important for countries in the euro area. The European Council President Herman Van Rompuy should give more detail on this subject in October.

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"The Spanish debt markets under pressure

"The market plebiscite debts French and Spanish

"IMF: Market power threaten growth

Societe Generale Securities Services (GSS), a subsidiary specializing in securities trades in Societe Generale, announced in a statement Monday night for a commercial partnership with U.S. Bancorp Fund Services, a subsidiary of U.S. Bancorp U.S. Bank. The objective of this association is to provide investors with a global service fund administration, global custody, lending, securities lending or distribution of funds.

The French bank, which is the number six world titles with the conservation of 3.246 trillion euros in assets under custody, has not been quantified business objectives but it does ensure that the alliance is not motivated by reducing costs. "The goal is not cost synergies but revenue synergies", explained Alain Closier, director of GSS, indicating that this type of alliance has never been tied up in securities trades.

No capital alliance

"This is not a partnership capital, held to clarify Alain Closier low fee payday advance. "There is not any exchange of shares between the two groups. We have no agenda or planned merger between the two institutions, "he added. "We always talk about critical mass, to pool plants to decrease costs," said the officer referring to reconcile and partnerships established by other banks in this business.

Also asked about a possible sale of securities of the SocGen activity or a possible strategic partnership, Alain Closier said that the rumors currently circulating were "unfounded"."There are always rumors fed by different sources, such as competitors, then taken over by consultants looking for business. It is difficult to comment on rumors, especially when they become increasingly accurate and increasingly unfounded ", he further said.

A few days after the publication of a sales soaring and better than expected, Ghosn perfect its operation seduction. The CEO of the automaker, which suffered heavy losses last year with 3.1 billion euros of losses, it is one of the most important sector, pledged on Friday at the annual Shareholders' return in the green "no later than 2011.

A challenge for the "cost killer" at Nissan, the shareholders re-elected for four years without surprise at the head of the automaker. Five years after its accession to the presidency of the group, the economic conditions in 2010 should however be difficult. The scheduled shutdown of the scrappage scheme in particular, should not contribute to boost the profits of Renault, who anticipates a decline of 10% of the European market this year.

"The club small groups producing more than 7 million cars a year"

To find the flexibility brought by the loan of 6 billion euros granted by the state earlier this year, Ghosn has also committed to the shareholders to repay that money more quickly than expected, it ie before the year 2014 Guaranteed fast personal loans. "We will refund well before the deadline and we will refund if possible in concert with our friends at PSA," he said. The lion brand was in effect at the time assisted the same amount.

The manufacturer expects to have the freedom again to close and installing production units it wants to reduce its costs.One recalls the intervention of Nicolas Sarkozy to stop the entire production of the Clio in Turkey …

Carlos Gohn finally defended the recent alliance with Daimler, well received by analysts but with more caution by the shareholders of a German manufacturer of luxury cars. "With Daimler, we enter into the restricted club of groups producing more than 7 million cars a year," argued the head of the corporation.

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"Quarterly sales of Renault leap

They had first announced, they did. On the occasion of the Auto Show that was held last March in Geneva, PSA and Mitsubishi have confirmed that they would continue their industrial cooperation, aun when they abandoned their capital project alliance. On Tuesday, on the sidelines of the results of Mitsubishi, the two automakers announced they would jointly develop a compact 4×4 model, which will be marketed in Europe in 2012.

This vehicle is available in four-wheel and two wheel drive, and will be based on an existing model from Mitsubishi, RVR known in Japan and ASX in Europe, which will be suitable for Peugeot and Citroen brands, say the two groups said in a statement. Finally, the vehicle will be equipped with a diesel 1.6 Di Peugeot Citroen.50,000 vehicles per year and brand should be built.

The statement said that it is the fourth cooperation between PSA and Mitsubishi, after the agreement on the manufacture of all-terrain vehicles and electric, and the inauguration of a joint plant in Russia.

Mitsubishi also presented its annual results this morning. The Japanese carmaker is ironed green during the 2009-2010 fiscal year completed in late March, registering a net profit of 4.7 billion yen, or 36 million euros. It provides an increase of 31.4% of its turnover for 2010-2011.

STOCK markets take a breather. In Paris the CAC 40 tumbled 1.94%, to finish the session in 4000 exactly 3 points at 986.63 points. The announcement of action against the U.S. investment bank Goldman Sachs has literally showered the markets.

The indices that had evolved sawtooth most of the day were immediately plunged. Almost everywhere, investors chose to pocket their gains on the values that have risen more. In London, the FTSE fell 1.39% and in Frankfurt the Dax dropped 1.76%.

Wall Street had previously lined up six sessions was washed away.Shortly before the close of European stock exchanges, the Dow Jones slid 0.51% and the Nasdaq by 0.76%.

Goldman Sachs Sticky

The U.S. stock market watchdog, the SEC announced Friday it was suing the U.S. investment bank Goldman Sachs to "fraud" on the sale of investment securities linked to subprime mortgages, called "subprime" ( see also page 21). The good news continued to flow as the business side as the economy fell into the background. Thus, the highly anticipated conglomerate General Electric, as well as those of Bank of America, the Internet giant Google, the specialist of AMD microprocessors, or the toy maker Mattel has exceeded all expectations.

Good news also on the side of macroeconomic indicators in the United States.Housing starts housing as the number of building permits issued rose more than expected in February. In Europe, the public debt remains a central concern. Greece announced Friday its intention to raise 1.5 billion euros in Treasury bills. Tuesday an initial public offering had already helped to raise 1.56 billion euros. The announcement comes as the Europeans and the IMF are finalizing the program of aid to Greece. Finance ministers from the euro zone met in Madrid on Friday for an update on the crisis in Greece. And a new mission of the IMF and the European Commission is expected in Athens on Monday.

The green color should still be the day the Paris Bourse. Comforted by the end of the Japanese Nikkei up on Monday, the CAC 40 should continue its momentum on Friday. The key index in Paris had ended the week up almost 2%, surpassing the 4000 points to 4050 points.

Investors should be reassured by Parisian rescue plan with Greek details, as expected, were finally unveiled this weekend. The European system, operational since Sunday, includes up to 30 billion euros in loan agreements with joint assistance from the IMF. The new fact in any case already boosted the euro. In morning trading, the euro is worth 1.3675 dollars, up 0.12% against the greenback.

On the face of macroeconomic indicators, no news likely to react to the markets is expected.Important data such as current accounts or French industrial production in the euro area, will in the coming days.

However, the quarterly publications begin Monday in France and the U.S. cash till payday. Intel, Google, Bank of America, or General Electric are expected across the Atlantic this week. The France oversee Alcoa or Atos Origin.

Values follow

In an interview with the Journal du Dimanche, the chief executive of Publicis said this weekend that the advertising investment is not expected to regain its 2008 levels by 2012.The latter also expressed readiness to re-evaluate its offer for the advertising of France Televisions, if the advertising was finally upheld.

France Telecom is in difficulty in Egypt where a court on Saturday confirmed its decision to block the bid from France Telecom on the minority of ECMS, the first mobile operator in terms of number of subscribers.

According to sources close to the deal, EADS will unveil its position on a possible bid to tender for the supply of tanker aircraft to the U.S. Air Force.

Alcoa publishes figures for its first quarter after market close in New York.

In alliance with Danone, Chiquita hopes to accelerate the development of its brand smoothies Just Fruit in a Bottle in Europe fast cash advance.