World News, Financial News, Breaking US News

The U.S. stock markets have evolved in the green Monday, with a peak at the end of the session. The major indices ended the session by sharp increase: the Dow Jones took 0.97% to 10,525.43 points, the Standard & Poor's 500 and Nasdaq 100 earn them, respectively, 1.12% to 1115.01 points and 1.19% in 2296, 43 points.

Investors have reacted to the publication of figures better than expected property: the new single-home sales in the U.S. rebounded more than expected in June, from 23.6% in May after hitting their lowest level at least since 1963, but remain extremely low, according to official figures released Monday in Washington.

On Friday, the NYSE had ended sharply higher, buoyed by another round of quarterly results from U.S. companies of good quality and were reassured on the results of resistance testing in European banks.The Dow Jones gained 0.99% and the Nasdaq 1.05%. On the whole last week, the Dow Jones gained 3.23% and the Nasdaq rose 4.15%.

On the foreign exchange market, the euro against the dollar adds. At the opening of U.S. markets, it was worth 1.2944 dollars against 1.2906 dollars on Friday night.

Oil prices retreated Monday in the opening exchanges in New York, yielding 86 cents a barrel to 78.12 dollars, while Tropical Storm Bonnie was eventually spared oil facilities in the Gulf of Mexico.

Busy Week Statistics

Another highlight, the U.S. central bank should publish its Beige Book Wednesday on the economic conditions.It will be very guarded while the president of the institution, Ben Bernanke said Wednesday before Congress the slow recovery, with no announcement of new funding in the economy.

On Tuesday, it is the Standard & Poor's / Case Schiller home prices and consumer confidence, which will be followed, before investors only look the next day on orders of durable goods. But it was the day Friday with the first estimate of gross domestic product (GDP) U.S. second quarter to be expected this week.This new burst of publications should be followed especially when investors are questioning again on the strength of the U.S. economic recovery.

Publications wait

U.S. companies are still likely to take stock in their accounts this week, including the program six companies forming part of the Dow Jones online payday advance. Tomorrow investors expect such figures CIT and Lockheed Martin and those sitting in the middle of DuPont.

FedEx rose 5.57% to 83.36 dollars while the group has raised its earnings forecast for the current year. The U.S. giant now aims Messaging earnings per share of between 1.05 and $ 1.25.

Genzyme flies from 7.77% to 65.38 dollars.The group would be the target of several pharmaceutical companies. Sanofi-aventis is about to blow, but Genzyme has rejected its takeover bid by Bloomberg, citing two sources familiar with the matter.

IBM: The European Commission has opened two investigations into the group. It suspects the group of computer abuse of dominant position on the markets for servers. The titles have changed to +0.02% 128.41 dollars.

Always on the side of values, General Electric (2.74% to U.S. $ 16.14) Friday said its increased dividend of 20%, the quarterly dividend from 10 cents to 12 cents. GE also announced a resumption of its share repurchase programs. He had stopped this practice in September 2008. The board gave its approval for an additional $ 11.6 billion."GE hopes to finish the year with $ 25 billion in cash, including proceeds from the sale of a majority stake in its subsidiary NBC Universal to Comcast" say the analysts at Aurel BGC. Some of this money will be used to buy three billion dollars in preferred shares that the group has sold to the holding company Berkshire Hathaway of Warren Buffett in October 2008.

Also note Friday night, the FDIC, the federal agency whose primary responsibility is to guarantee bank deposits, announced the bankruptcy of six new American banks, bringing to 102 the number of closing establishments since the beginning of year.These six failures will cost about 394 million dollars to its compensation fund the FDIC.

Note that the British press suggests a departure from the CEO of BP, before tomorrow, the date of publication of interim results of the oil giant.

After their fine up yesterday, the U.S. equity market should be cautious Friday. The index futures are predicting a slightly higher opening of U.S. markets. Future Standard & Poor's 500 and Nasdaq 100 advancing in effect respectively by 0.36% to 1091.60 points and 0.43% to 1960.10 points. On Thursday, the New York Stock Exchange ended sharply higher, boosted by another round of results in good order. At the close, the Dow Jones gained 1.99% to 10,322.30 points and the Nasdaq 2.68% to 2245.89 points. For its part, the S & P has won 2.25% to 1093.67 points.

On the foreign exchange market, the euro off again on the rise against the dollar in the morning, after the publication of a German Ifo barometer jumped in July, but remained confined to below $ 1.30.The euro was at 1.2956 dollars against 1.2886 dollars late on the eve of the day.

On the macroeconomic front, the session looks very calm. No major indicator is expected in the United States. Wall Street should have their eyes on Europe. Operators should indeed play the card of caution before publication in the evening the results of resistance tests 91plus major European banks.

From the values listed, investors will react to another round of results published the day after the close of Wall Street.

The U.S. computer giant Microsoft seems to have turned the page on the economic crisis with a quarterly profit up 48% year on year, better than expected, more than 4.5 billion dollars.Over the year, net income climbed to 18.760 billion, up 29%, and sales to nearly $ 62.5 billion, up 7%.

Always on the side of values, the Internet retailer Amazon has posted Thursday a net profit increase of over 45% in the second quarter but below expectations. In after-hours electronic trade, the share lost more than 13.5%.

The credit card issuer American Express American issued Thursday a net income group share increased by 3 over one year to over $ 1 billion in the second quarter. The group was encouraged by the recovery of expenses of its customers and lower defaults on credit cards.

Note also the flash memory maker SanDisk has announced a quarterly benefit of $ 257.9 million slightly exceeded expectations.The turnover was 1.18 billion over the quarter against 730 million last year. "The U.S. market is recovering quickly (27%) and becomes profitable, but significant uncertainties remain safe with the new law on the distribution of consumer credit" note the experts at Aurel BGC. The group remains very cautious on the outlook for activity in the United States.

ABC News – Where is the bill that protects the personal assets of individual entrepreneurs?

Herve Novelli – The decrees of applications of this law appear before the end of the year for implementation status as of 1 January 2011. We will do everything to create a sole proprietorship with limited liability (EIRL) is simple. It is possible to create an online EIRL site counter-entreprises.fr. I also implemented a feature that allows the entrepreneur to avoid having to give a personal guarantee to the bank when he wants to borrow money, this financial product will be managed by OSEO will guarantee up to 70% maximum loan granted by the bank.

Banks are hostile to the creation of a sole proprietorship to limited liability.How to convince?

Banks must be with contractors, as the state has to be by their side when they needed it. I will ask the banks in September to explain the importance of this reform on 1.5 million individual entrepreneurs. I do not want there to be ruined because of artisans of a bankruptcy professional.

This Order is being signed and will include officials from exercising a complementary service activities to the person.

The study group set up with the budget minister working for the simplicity of the status of self-contractor be extended to 1.5 million self-employed. The aim is that the deadlines for payroll taxes are more in line with sales receipts.It is better to consider the impacts on cash social security contributions, especially when the turnover decreased quick pay day loan. The working group will issue its findings in late September.

I signed on July 28 financing agreements on the training of entrepreneurs with self-insurance fund training. The State will fund this year to the tune of 5 million euros.

Protecting consumers, as business support is essential to revitalize our economy. I decided three types of operation for this semester. The administration of fraud prevention is better control of online commerce sites that are becoming more numerous. It has created 17,000 sites trade thanks to the status of self-contractor. 24 million French people use them, and nearly one in two French selects his holiday on the internet.I will start early September also strengthened controls to enforce the rights of students who rent rooms and furnished and are sometimes subject to unfair terms. Finally, I want to limit the accidents of everyday life that are still too many in connection with the Consumer Safety Commission mandated that I have on this

After several months of negotiations between MEDEF and consumer associations, we have reached an agreement on the protection of personal digital data. Consumers who buy a product on the Internet should give their consent for their personal information is transmitted to other sites. They will oppose it easier to use their personal data for commercial purposes.

Click on the thumbnail to enlarge the graphics.

The controversy swells daily. After the Europeans, it is now the boss of General Electric to accuse China of putting a spoke in the wheels of foreign companies. "I'm really worried, I am not sure that ultimately they want that we will succeed," he complained to an audience of businessmen from Italy, reported the Financial Times on Friday.

Last Tuesday was a report of the European Chamber of Commerce in Beijing, which accused China to increase the discriminatory measures. He denounced a "discretionary application of laws and regulations, the registration process unnecessarily complicated and" inconsistencies in the application of national criteria.

In Beijing, many business leaders say the word to cover: it is increasingly difficult to work in China."They understand that they can leave if they are not happy," says a corporate lawyer. Since April, the party newspaper, the China Daily, had sniffed the wind of revolt and was almost threatening."When foreign companies encounter difficulties in their projects (…) if they do nothing but complain that the foreign media and amplify the case without analyzing the merits and slandering the Chinese economy, they will end up delaying the process of improving the investment environment, "he wrote.

Funny way to appease the spirits when President Hu Jintao says it wants to "take concrete steps to reject any form of protectionism and unequivocal support free trade."

The World Trade Organization said in its latest report "Interest in China and its foreign suppliers of more rapid liberalization of China's service industries.But Beijing, which, in a gesture of goodwill, will leave July 15 rebates for export taxes on certain sensitive products, prefer to believe that foreigners "grunt" on account of wages.

Rising labor costs

Demonstration of support to employees of Foxconn, Hong Kong in June Photo credits: AFP

"Re-enchantment of the hypermarket." Of the seven projects announced just last year by Lars Olofsson, Executive Director of Carrefour, the biggest boost to sales in hypermarkets, particularly the larger ones, whose attendance continues to decline in France.

Tests are carried out recently in a handful of stores in Belgium, Spain and Chambourcy, near Paris. But in Rhone-Alps that focuses the bulk of the efforts of the distributor réattirer customers and make them spend. The group also planned to hold its investor days, 15 and 16 September in Lyon.Between two presentations on the progress of plan savings of 3.1 billion euros, brokers and analysts will be invited to a tour of hypermarkets completely "re-enchanted.

According to our information, the most spectacular project will be unveiled in Ecully, in the upmarket suburb of Lyon. Work will start in the coming days and be completed in late August. The different radii, starting with those on the non-food (textiles, hi-fi …) will be reorganized in the form of blocks, or shops open on a driveway. A radical break with the organization of gondolas "spike", perpendicular to the rays.

Expensive and spectacular

Another radical change, hyper might be organized around a single street, which would allow customers to wander at will … without missing a spoke."A spiral path, which would impose a smooth path to clients as Ikea," says one close to the matter. A precision belied by Carrefour.

Rather expensive, spectacular concept, designed by the design office Malherbe, should be reserved for the most hyper among the high-end 231 of the brand in France. Also, changes may not be as radical, but they should nevertheless be numerous, as in Venissieux.

There remains the issue of the less profitable stores in the chain. Here the group test by the end of an adaptation of his Brazilian concept Atacadao involving hypermarket and hard discount, with few services and references 7000 sold to declining prices based on volumes purchased.Eventually, nearly a dozen stores could be converted, and renamed Hypercash.

ALSO READ:

"Feature – In Vénissieux priority to fresh … and trademark

"Carrefour prune its bid to boost sales

Hostile to a widespread tightening, the G20 has accepted this weekend in Toronto fiscal restraint to the map, depending on the country, and spread over time. The countries have agreed to "reduce by at least half the deficit by 2013, and stabilize or reduce the costs of public debt to GDP by 2016, without specifying binding targets to States.

As a result, financial markets, the atmosphere of uncertainty can be expected.

In Paris, while the CAC 40 has lost about 5% in just three sessions of declines marked – and having earned 10.5% in nine sessions of gains on – the hesitation should be on the agenda this Monday morning.Although at 8:20, the CAC 40 futures contracts predict an opening up of about 0.45%, the trend will remain fragile.

The euro was slightly lower at 1.2362 dollar and gold – the same trend – is still treated in 1256 dollars.

A well-attended American Statistical

On Monday, held a ministerial meeting between OPEC and the European Commission.At the ECB, the figures on M3 money supply and credit to the private sector will be announced at 10:00.

For the U.S., followed the very household income and expenditure for the month of June is available at 14:30 just before the opening of Wall Street.

The statistic most watched this week will be the number of applicants for overseas jobs, which will be released Friday, which should mark a break in the trend with further destruction of jobs expected.

The bank fee: disagreements

Priority of Paris and Berlin, the tax credit has received a cold reception in Toronto at the G20.Despite support from Washington and London, the final communique does not mention the tax lip as a legitimate option for banks to charge up the pieces of the crisis.

Popular Banks Savings Banks According to information Wansquare, BPCE Foncia has decided to withdraw from the sale. The preparation of a new law on directors and the rout of Urbania Group took account of the sale of the land.

Casino Jean-Charles Naouri, CEO of the group, delivered the Figaro its strategy to cope with a sluggish consumer in France, however, offset by continued momentum overseas. The boss has no plans to float Cdiscount and will focus more on small and medium format hypermarkets (6 000-8 000 square meters), rather than the hypermarkets.

Trigano will on Monday publish its turnover for the third quarter of fiscal offset.

"No engagement will not solve the demographic problem," still insisted the prime minister, noting that previous pension reforms of 1993 and 2003 had been "challenged" and "are now accepted by everyone."

A symbolic announcement just days before the opening of the G20 summit in Toronto. The People's Bank of China, the Chinese central bank, announced Saturday that it had decided to continue the reform of the mechanism of the exchange rate of the renminbi (yuan's other name) in order to "increase the flexibility .

"The world economy is recovering gradually. The recovery and rebound of the Chinese economy is increasingly confirmed, leading to greater economic stability, "argued the central bank in a statement published in English on its website. "It is therefore advisable to take the reform of RMB exchange rate."

Since summer 2008, the yuan has remained stuck at around 6.83 against the dollar, fluctuating within a very narrow margin vis-à-vis the greenback.A contentious issue between China and its trading partners, most notably the United States, who believe that the yuan is undervalued, allowing Beijing to sell its products for export at very competitive prices.

In a letter to heads of State and Government of the G20 on Friday, President Barack Obama had given the record of the yuan on the table, a reference to it. "I also want to stress that exchange rates determined by the market are essential to global economic vitality," he wrote in his letter.

China has always rejected international pressure. The Deputy Foreign Minister, Cui, had also insisted on Friday that the issue of the yuan would not be up for discussion G20 payday loan companies. "The renminbi is the currency of China.This is not something that the international community needs to discuss, "he told a joint press conference with Zhang Tao, head of international department of the Central Bank.

A move immediately welcomed

Announcing this on Saturday continued reform of the yuan, the central bank has focused on "China's efforts to encourage a global rebalancing. The institution has admitted that the "special policy" introduced by Beijing in the heart of the global financial crisis had perhaps more reason to be in a context of economic recovery, but recalled however that "the stability of the yuan has played a major role in mitigating the impact of the crisis, which has contributed significantly to the recovery in Asia and the world.On the other hand, the central bank has insisted that the gradual return to a flexible exchange rate of the currency does not mean "great changes or major changes, namely a re-evaluation.

The gesture was appreciated nonetheless. Timothy Geithner, U.S. Treasury Secretary, said in a statement that the reform of the yuan could make a "positive contribution" to global growth. "We welcome the decision by China to strengthen the flexibility of its exchange rate," he said. The Director General of the International Monetary Fund (IMF), Dominique Strauss-Kahn also found that Beijing's decision was "very encouraging".

ALSO READ

"New wrestling around the yuan

This Monday has been the day of surprises. A few hours after completing the rescue funds to the euro, the European Union president Herman Van Rompuy announced Monday night that the EU finance ministers agreed that the Commission consider their national budgets. An agreement all the more unexpected given that some hours before the meeting between Nicolas Sarkozy and Angela Merkel to be held on Monday evening was canceled at the last moment. Every indication that this was yet another sign of the tension between France and Germany. And even if both sides because they advanced the calendar.Markets do not make mistakes: Shortly after the cancellation, the CAC 40 lost more than 1%, while it had managed to return to balance in mid-session.

Budgetary discipline

Anyway, this agreement will enable Europe to invent a new fiscal discipline. This is especially good news that Germany and France had openly opposed on this issue. We remember especially about the government spokesman, Luc Chatel, who said "this is not the European Commission to approve the budget of the French nation."

The EU finance ministers have also agreed Monday night to create new sanctions against countries too indebted to strengthen the Stability Pact.The agreement envisages the possibility of sanctions even when the current limit of 3% of GDP by the Covenant for public deficits has not yet expired, said President of the European Union, Herman Van Rompuy, at a press conference. The idea would be to trigger the excessive deficit procedures earlier for countries whose debt is not declining fast enough low fee pay day loans. It also put more emphasis on the future monitoring of the overall debt deemed not exceed 60% of GDP, and not just the annual deficits.

A modification of treaties is not excluded

The ministers have asked the European Commission to make proposals to define new sanctions.Brussels thinking, for example the suspension of payment of certain subsidies from the European Union for uncooperative countries. Germany also advocates for the suspension of voting rights at European ministerial meetings in Brussels. "We talked about but everyone is aware that financial sanctions not require a treaty amendment," said Herman Van Rompuy.He added: "We have not ruled out a treaty amendment, but has concentrated on what can be done at short notice and under the current treaty that does not have to go to the ahead and impose sanctions, non-financial, "he added, however, ensuring that there was" no taboos "for the future.

These sanctions, which remain to be defined, could be decided whether a country has ignored warnings from its partners on the drift of public accounts, or if the overall level of debt swells too fast.

In an environment where markets are concerned about the financial situation now in Hungary – which is not part of the Euro-zone, this agreement, which follows the completion of the rescue funds of the euro, should enable bring some stability to financial markets that really need it.

ALSO READ:

The rescue funds of the euro finalized

The Sarkozy-Merkel meeting postponed for one week

The banks have apparently not learned the lessons he's passed. While the crisis has raised among investors need for transparency and simplicity in marketing financial products, Madeleine Guidoni, mediator of the MFA, criticizes them in his 2009 report published on May 28 last, having taken their bad habits: those not well enough informed their clients about their content that sells the Fund or market products that are too complex and not meet the expectations of their customers. What about the first five months of the year 2010? "We see no obvious improvement vis-à-vis the general public," she says. The marketing of financial products was the main (67%) claim of investors in 2009, in mediations.This is why at the end of April, a common pole with the supervisory authority was created "to strengthen the control of the marketing of financial products," stated the AMF said in a statement in May last. Called Insurance Savings Bank-Info Service, will come in three forms: a website, a helpline and a mailing address that will be implemented "in the month of June," says one to the AMF.

object width = "425" height = "344">