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.

Technip has published today the results down in the second quarter of 2010. Turnover amounted to 1.485 billion euros, down 14.3% as reported from the second quarter of 2009 (18.4% excluding currency effects). Net profit reached 106 million euros, or 8.7% less than last year over the same period. The operating margin was also reduced: it reached 10.8% against 11.3% in the second quarter in 2009.

The specialist oil services records, however, a sharp increase in orders. The order backlog amounted to 8.263 million euros. In the second quarter, order intake was EUR 1.524 million, "almost evenly divided between the segments and Subsea Onshore / Offshore, against 873 million in the second quarter of 2009, bouncing about 74%.The group hopes that the resumption of orders in the Norwegian part will continue and believes that the Brazilian market remains "promising" No fax cash advance.

Work continues

Technip therefore maintains its objectives for the year. The company expects a turnover of between 5.9 and 6.1 billion euros (2.6 to 2,700,000,000 in subsea). The expected operating margin should exceed 15%.

Regarding the oil spill in the Gulf of Mexico, the company said that "at this stage, [its] operations were not affected in 2010 but the new orders could be delayed in the short term."In the longer term we believe that operators prefer to work with contractors who have maintained a constant effort to invest in security," the group added, stressing that it is a central element of its strategy .

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.

Good news for Sanofi-Aventis. The pharmaceutical giant has obtained a favorable opinion of the Commission on Transparency Multaq medical interest, reveals the Tribune Wednesday. This drug for cardiac arrhythmias in place of amiodarone which generates significant side effects, had been criticized by the French authorities as a renowned American Institute cardialogie.

The Transparency Committee eventually concluded that "the Multaq does not improve the medical service rendered in relation to amiodarone (…) but represents a useful supplementary therapy. Experts believe that the "medical service rendered" is "important" when they had considered "moderate" in the first review in March.

This advisory opinion warrants a refund of 65% of Multaq, but it does not fix the selling price. This will be negotiated with the Ministry of Health.The daily La Tribune said that the opinion of the Commission should result in a price lower than the products already marketed. The laboratory should therefore support price negotiations with a strong argument: the reduction of hospitalizations and deaths due to medication.

900 million euros turnover in 2013 horzon

While numerous patents expire Group, Sanofi-Aventis place great hope in the Multaq: Analysts expect 900 million euros turnover in 2013, according to business daily.

The new drug is already marketed in several countries like Germany, the United States, the United Kingdom, Denmark, Norway, Ireland, Switzerland or Canada. A spokesman for the pharmaceutical group has confirmed a target marketing Multaq in France by the end of the year.

If it does not take the bull by the horns, Japan will end as Greece. The policy speech delivered yesterday by the new Prime Minister, Naoto Kan, before Parliament is clearly intended to create a shock.

"Like the problems in the euro area caused by Greece, there is a risk of collapse if we do nothing against the rising public debt and consequently lose the confidence of bond markets," Has he said. Japan's debt exceeds 200% because of GDP (gross domestic product) and threatens to reach 246% in 2014, according to the IMF.

In reality, there is no chance that the archipelago is found in the situation in Athens, since this debt is 95% owned by Nippon investors and long-term rates remain very low, but feared the reaction of Tokyo rating agencies.Last January, Standard and Poor's downgraded the rating of its long-term debt from "stable" to "negative".

Naoto Kan, who can count on the support of 61.5% of the population, according to a poll conducted Wednesday, draws a line over ten years of economic policy that has led the country to choke.

He wants to go fast and run a complete overhaul of the tax system by initiating a national debate beyond partisan barriers "to ensure the support of the opposition. The economic recovery of the archipelago, with an annualized growth of 5% in the first quarter, giving him the means.

Deflationary

But this reform is likely to be painful because it requires an increase in VAT, currently at 5%, one of the lowest in developed countries. Can not kill it in the bud the recovery of consumer confidence recorded in five months? "I do not think so.The VAT could double, but that should not weigh. When households are too indebted state, they are slowing their purchases. If they have a visibility they consume more, "said one investment banker in Tokyo. He added that such measures can help break the spiral of deflation, which, "by dint expect further declines in prices affects consumption."

The government, which wants to reduce unnecessary government spending, is preparing in parallel to reduce the corporate tax, which at 40%, is one of the highest of OECD countries. This would allow companies to offer cheaper products, thereby reducing the impact of the tax increase on consumption.

"It's courageous," says a French financial analyst living in Japan.And Naoto Kan, for once, can rely with confidence on the new Minister of Finance, Yoshihiko Noda, firm believer in fiscal discipline.

Only downside, the prime minister can not deny the social promises made during the campaign of his party. But they are expensive. The only allowance for children continuing their studies, launched in the spring and intended to fight against the declining birth rate, represents 45 billion euros per year. And the Minister of Social Affairs, Akira Nagatsuma suggests it could take another form as a cash payment to families. But "when we preach the rigor of educational way, the Japanese understand perfectly," decide the investment banker, who took the gamble that the revolution Kan prevail.

Washington wants to reduce public expenditure

Barack Obama on Tuesday gave members of his Cabinet until Sept. 13 so they identify reductions of 5% of funds in their agencies and departments. That extra effort the White House to reduce spending in response to American concerns before the expected surge in debt to Uncle Sam more than 100% of GDP in 2012. However, the actual impact of this initiative looks marginal. It will only result in recommendations to Congress may be accepted for fiscal year 2012, not before. In addition, over 60% of federal spending by definition beyond these potential restrictions. These expenses called "automatic" which include debt service, expenses of the pension plan and those of public health systems.

In February, Bush has already requested a freeze for three years (after inflation) of many public spending "not automatic". But the categories have been added untouchable military spending, those relating to civilian security and international aid. But the Pentagon budget alone is $ 700 billion, or half of total discretionary spending. Moreover, the Congress, including Republicans, routinely refuses the few savings proposed by the White House in weapons programs. In point lead Barack Obama now threatening to veto the budget law drafted for the Pentagon by Congress.

Moscow is 20% of staff within

The ad has a taste for rigor, but it is not formally rigorous.Russian President Dmitry Medvedev on Tuesday ordered his administration to make proposals to reduce by 20% the number of officials in the country. "It is obviously, a far too severe, which can not be made mechanically or on the basis of purely financial criteria. We are talking about the fate of people, "said the head of the Kremlin, which gave no further details. Already last week, during a cabinet meeting, Finance Minister Alexei Kudrin had discussed such a proposal would lead to the removal of 120 Guaranteed pay day loans.000 positions and would save 43 billion rubles (1.13 billion euros). In contrast, half of this allocation would serve to increase the salaries of other cadres of the public.Despite the beginnings of the European crisis that could hit Russia, the government continues to boast its program of social spending that benefits particularly to retirees. In the past, such cost-saving measures have already been proposed, without being acted upon.

Germany on the wagon

Monday is a detailed history of savings – 80 billion euros by 2014 – announced by German Chancellor Angela Merkel. In order of priority expenditures of the federal government. Number of allocations will be scaled down and almost 15,000 jobs disappear in the civil service by 2014.The removal of 40,000 soldiers in the Bundeswehr is also under consideration.

New sections in Hungary

After his rescue in late 2008 by the IMF, the World Bank and the European Union, Hungary had announced an initial dose of austerity with a wage freeze for two years in the public and the removal of the 13th month for pensioners. Prime Minister Viktor Orban on Tuesday a detailed budget which provides, in addition to creating a financial tax, further cuts in public spending to the tune of 425 million euros. The revenue cap leaders and the public is considered a strict examination of spending to purchase a car or phone service.

Elsewhere in Europe

It is not good to be official now in Europe.Down 5-15% of wages in Ireland, abolition of 13th and 14th month and down 7% in Greece pensions, freeze wages and non-replacement of a staff of two in Portugal, wage freeze in Italy, Spain, hiring freeze in Great Britain … Besides the cuts in operating expenses that are spreading.

The Nikkei 225 of the Tokyo Stock Exchange ended trading Thursday up sharply from 2.18% at 10,620 points, thanks to good business results.The activity was average with 2.27 billion shares traded on the primary market.

Elsewhere in the region, the trend is very promising: the Hang Seng in Hong Kong up 1.05%, the Singapore Straits Times of Singapore won 0.3% to 2889 points and the S & P / ASX Sydney s 'gives 0, 71%, to 4652 points.

Sony confident

The Japanese electronics giant Sony has confirmed on Thursday it had ended the fiscal year 2009-2010 on a net deficit reduced to 40.8 billion yen (312 million), reflecting a return to the Green In terms of utilization through reductions in fixed costs.

With the renewed vigor, Sony also said Thursday that he hoped to finish the year began last April, and will be closed in March 2011, a net profit of 50 billion yen (about 400 million euros ).

Nissan Motor Co. is not far from being able to resume an operating margin of between 6% and 7%, said Thursday that Carlos Ghosn, CEO of the Japanese held 43% by Renault. On the occasion of the publication of a return to profit in the fourth quarter 2009-2010, Nissan had Wednesday reported a profit forecast for 2010-2011 considered conservative.

History! No fewer than three giants of French capitalism take their bow this spring. The vintage 2010 general meetings, which are in full swing in recent days, promises to be dominated by the departure of Presidents of Sanofi-Aventis, Total and Saint-Gobain. Jean-Francois Dehecq, Thierry Desmarest and Jean-Louis Beffa, former CEO during the course of their groups, have already sold one after the other the reins of the general direction of their dolphin. By one month, they also give up the presidency, he had kept time to pass the baton smoothly.

For a year, one quarter of the CAC 40 have experienced at their head movements, visible these days as AG. This is often an opportunity for groups to reconstruct the position of CEO, dear to the French tradition. Christophe de Margerie, and Pierre-Andre de Chalendar thus inherit full power Discount Total and Saint-Gobain.France Telecom, meanwhile, saw a rapid transition after the scandal of suicide. St?phane Richard, who took over on March 1, Didier Lombard Branch knows that it will not last: it is proposed as an administrator at the meeting of June 9, to get the Grail as CEO in spring 2011 .

Ultimately, if we exclude the Cr?dit Agricole – true to his rule called "four eyes" – and who will succeed Jean-Marie Sander Rene Carron as head of the group, the Germano-Canadian Christopher Viehbacher (Sanofi-Aventis ) is the only general managers to remain under supervision despite the departure of its president. Serge Weinberg takes effect in the torch left by Jean-Francois Dehecq, the founder of the pharmaceutical company.A matter of nationality? Last year, the board of Societe Generale had waived, under political pressure, to entrust the presidency to Britain's Tony Wyand after the resignation of Daniel Bouton. Rather than having a candidate imposed by the Elysee, the bank was then promoted its managing director Frederic Oud?a the rank of CEO and Tony Wyand placed at his side as vice president.

Vice President referent

If he returns to court, the model of the French boss is omnipotent and more often mitigated by the presence of a guardian "Jiminy Cricket" by his side. At Veolia, already, after the departure of Henri Proglio, his successor Anthony fawn followed closely since last fall by his vice-president, Louis Schweitzer. Axa similar pattern. Henri de Castries, chairman of the board so far, has certainly been converted CEO last week.But at the same time, Norbert Dentressangle, the owner of eponymous transport group, has been appointed as vice-chair, "referring independent director.

Jacques de Chateauvieux, who had succeeded to the presidency of the Executive to Claude Bebear, Axa's founder, had found himself as the structure to the Executive and Supervisory Board was not justified.

As at Societe Generale, had to adjust the statutes to give substance to this vice presidency, that does not exist in French law. Thursday, shareholders of Vinci will last for Yves-Thibault de Silguy at the podium as President. The great servant of the State, which had been called to the rescue in 2006 following the hectic departure of Antoine Zacharias, sits down on the vice-presidency. Xavier Huillard, the group general manager of concessions, makes him the scepter of CEO.A development designed to end the tensions that prevailed in Vinci.

Not easy, indeed, to live day to day relationship between a "chairman" and "CEO" in a foreign country that tradition. "France and the United States are the only countries where these functions remain separate," recalls Loic Dessaint, in Proxinvest, a consulting firm in corporate governance. In light of these latest twists, it appears increasingly that the wave of the separation of powers, meeting in the mid-2000s, showed more concern for some employers to ensure a smooth transition with a real cultural revolution. We had already seen, in 2009, Carlos Ghosn CEO of Renault erected at the term of office of Louis Schweitzer. The method remains valid.Essilor, Xavier Fontanet was withdrawn and the presidency since January 1, transmitting the general direction Hubert Sagnieres. Even the intended movement of 1 July for the specialist Veritas Geophysical GSC.

Finally, it may be tempting to take the highway in reverse, it can be expensive. Jean-Francois Roverato, CEO of Eiffage, who had time left for the operational reins back then paid dearly for this year. Its board of directors granted a renewal of his mandate for one year …

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.

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.