World News, Financial News, Breaking US News

Like their colleagues in Asia, investors showed little enthusiasm in Paris on Friday. Mid-meeting, the CAC 40 lost 0.35% to 3737.93 points. Same movement in the rest of Europe: the DAX index of the Frankfurt Stock Exchange was down 0.38% at mid-points to 7187.40 and the FTSE-100 index lost values ​​of the main symbols 0, 05% to 5844.12 points.

The attention of the market still focuses on the evolution of the European agenda to discuss aid to Greece and parliamentary discussions slipping in the U.S., about raising the debt ceiling. After Treasury Secretary Timothy Geithner and Fed chairman, Ben Bernanke, the U.S. President, Barack Obama has assured last night that "the time for decisions has come."Barack Obama will hold a press conference to take stock of the subject at 17 hours, Paris time.

In addition, many macroeconomic indicators expected in the day could hold the attention of investors. Foreign trade in the euro area has returned to balance in May in raw data, exports (seasonally adjusted) increased faster than imports, Eurostat said Friday. In April, the deficit was $ 4.8 billion. It was 4.9 billion in May 2010.

The news is also very busy across the Atlantic with the program price index for consumption, the Empire State index of the activity of the New York Fed, industrial production and the first estimate of the index consumer confidence in July.

Note, next currency, the euro has stabilized against the dollar at 1.4140 dollars against 1.4141 dollars last night.The euro rose slightly, however, against the Japanese currency to 112.03 yen against 111.89 yen yesterday. On the commodities market in the current context of heightened uncertainty about the public debt in Europe and the United States, gold is looking for: the metal-King reached a new record yesterday to 1594.45 dollars. It flows back slightly this morning.

A very technical session for

The news should be sparse on the side of the values ​​on Friday, but the session is facilitated by the expiration today of a battery of forward contracts.

Investors remain concentrated in Paris after the close for 18 hours to read the results of resistance testing in the European banking sector.Among the 91 banks assessed in connection with these third annual stress tests, are the French BNP Paribas (-1.10% to 45.54 euros), Societe Generale (-0.66% to 35.28 euros), Crédit Agricole (-1.33% to 8.63 euros), Natixis (-1.55% to 3.18 euros).

Dexia (0.05% to 1.83 euros) filed a complaint Wednesday in U.S. courts against the Deutsche Bank to recover losses related to a billion dollars of U.S. securities backed by mortgages ("subprime").

The automotive sector is also seen on Friday, after the presentation of the number of registrations in Europe in June, which shows a decrease of 8.1% over one year. Over the first half, the market decline is limited to 2.1% with 7.12 million passenger vehicles registered. Renault (1.01% to 37.03 euros), sales fell 20.9% in June and 10.8% for six months.Rival PSA Peugeot Citroen (1.02% to 30.19 euros) saw its sales fall 11.9% in June

In addition, the Wall Street Journal reports that the Indian Bajaj Auto has suspended a project to develop a cheap small car for Renault and Nissan on the grounds that such a model would not be commercially viable.

PPR (1.16% to 126.60 euros) and LVMH (-0.16% to 124.50 euros) not taking advantage of good prospects for German Hugo Boss. The group raised its forecast for 2011 after better than expected second quarter.

Total (-0.50% to 38.40 euros) and Technip (0.91% to 71.90 euros) are little affected by the sharp drop in oil prices in New York. This morning, oil markets are evolving in a piecemeal: a relaxation is observed on the future of Brent North Sea (-0.22% to 116.09 dollars per barrel).In contrast, light crude gained sweed 0.24% to 95.92 dollars a barrel.

Objective: London Olympics 2012! The challenge is ambitious Laure Manaudou but probably not impossible. "She recovered in the skin of a champion," said Gilles Portelli, CEO of Havas Sports & Entertainment. Absent from the basins since September 18, 2009, the swimming is preparing to make his comeback this Thursday in Athens to the United States. She has eight months to return to competitive, qualified for the Olympics taking place in mid-March. His former mentor, Philippe Lucas, believes it. "It's a good thing for French sport. It changed, it is a mother. She has thought through many things. Swimming was missing.

The importance of achieving good performance will depend in fact a new interest of major sponsors (Lancel, EDF, Arena, among others) who have stopped working when she announced her retirement. These contracts Lancel, EDF Arena and allowed him to reach about three million euros per year between 2007 and 2009. Reportedly, the contract of sponsorship with the chairman of PPR, through his holding company Artemis, who reported one million euros per year, is suspended and not broken. Discussions are therefore underway between the two parties to try to bring back Laure Manaudou and Francois Pinault.But suddenly, its value would decline significantly Advertising (LPG contract with him would bring 200 million euros per year). Necessarily all brands can not match the prices of luxury brands. " Most experts interviewed do not believe that the financial aspect is the main motivation behind this "comeback". "She would have stopped swimming in this case," explains Gilles Portella.

After accumulating the gold medals like pearls and posted disappointing results, shaken by romantic escapades, Laure Manaudou is trying to write a new story of his sporting career. "She now has a stable life, a companion who is immersed in the world of swimming (Frederick Bousquet) and one child (a little old Manon a little over a year). The risk of "relapse" is lower, "said François Guyot. But not nonexistent.

Far ahead of London and New York, Ile-de-France is the first tourist metropolis in the world. It is also the first French economic region, with a gross domestic product (GDP) alone accounts for 4% of GDP in the EU! Pride of place, then, but a place increasingly challenged: Paris is losing market share, overtaken by Singapore, Vienna or Barcelona for the organization of congresses. 26 billion euros in 2006, business in France has fallen to 14 billion euros in 2010, according to a barometer American Express. For Bercy, so it was now "urgent to take measures to enable the Grand Paris to retain its preeminence."In February, Christine Lagarde, Minister of Economic Affairs, and Frédéric Lefebvre, Secretary of State for Tourism, has commissioned Gilles Pelisson, Accor's former boss, to develop a precise inventory of the situation and formulate proposals improvement. The report presented yesterday – titled "Business tourism in the Greater Paris: a new ambition" – recommends a score of practical measures, which include both travel, equipment, reception conditions, the organization but also taxation.

Priority to the CDG Express

"Paris is a destination that is well and is efficient in terms of reception bad credit pay day loans. But in a world that moves, other destinations are on the rise, said Gilles Pelisson. A number of handicaps and weaknesses that passed before will be more crippling future. "Her number one priority is to CDG Express project."Like the great European cities, Paris should have a direct fast with its main airport, it said in its report. The project, in the form of public-private partnership of the CDG Express, should be released: it will in the near time horizon (2015-2017) to connect directly (19 minutes) Roissy to Gare de l'Est. "

Paris also lacks large rooms. "There is only one large auditorium of 3000 seats, while most major cities have two or three," said Gilles Pelisson, convinced that it also lacks "a few thousand hotel rooms "and" 100 to 200 employees "to improve service to the border police at Roissy-CDG."Small things" could also make life easier for tourists to encourage taxis to be equipped including electronic payment terminals or negotiate packages for some races (CDG-Villepinte, for example).

The NYSE has ended sharply higher Friday, boosted by a surprisingly strong industrial indicator in the U.S., allowing the Dow to gain 1.36% and the Nasdaq 1.53% on Friday before a weekend of three day – Monday, the stock market is closed due to national holiday in the United States.

According to final figures, the Dow Jones Industrial Average rose 168.43 points to 12,582.77 in points and the Nasdaq, dominated by technology, from 42.51 points to 2816.03 points.The broader index Standard & Poor's 500 rose 1.44% (19.03 points) to 1339.67 points.

The Dow Jones ended in green all sessions of the week on which it jumped 5.4%, its best performance since July 2009

The day before, now, Wall Street had closed on an open rise, encouraged in this direction by the Chicago PMI – and the relief felt on both sides of the Atlantic after the second vote in Parliament in Greece. Voting allows the application of the austerity plan as expected, and the release of 12 billion euros in aid to Athens.However, the agreement of the Eurogroup surl second aid plan, expected this weekend, take a little longer than expected, according to diplomatic sources.

U.S. Policy and Debt

Another current, more American and more uncertain, however, could be followed by operators, mindful of the political context, while U.S. debt back on the front of the stage: the Secretary of the Treasury of the United States Timothy Geithner, in fact, consider soon resign from his post.Information reported yesterday by the Bloomberg financial news agency and other U.S. media, but qualified this morning.

Consumption, construction and industrial activity

In terms of macroeconomic indicators, the activity of manufacturing accelerated in June in the United States, according to an index released Friday by the professional association ISM, which stood at 55.3% as against 53 3% month précédent.Cet index, analysts expected a decline to 51.1%, is above 50%, the line between expansion and contraction, for the twenty-third consecutive month.

Consumer confidence fell in June in the United States, according to the index of U.S. consumer confidence released Friday by the University of Michigan, who finally stood at 71.5, lower than analysts had thought .A first estimate, released in mid-June, the index stood at 71.8 and analysts expected that this figure does not change pas.Après two months of increases, this index declined 2.8 percentage points at the end of May, and falling to its lowest level since April.

$ 4.5 billion for Nortel patents

On the corporate side, the maker of BlackBerry phones Research In Motion (RIM), is 0.28% to 28.93 dollars after the announcement yesterday of an agreement avoiding, at the General Meeting of July 12, vote on a motion challenging the operation of its management.Turbulent in recent times, the action RIM has tumbled almost 41% in one year, closing at 28.85 dollars Thursday on the Nasdaq, while the S & P 500 gained at the same time 28.55%.

Apple (2.26% to 343.26 dollars) Research in Motion and Microsoft (0.08% to 26.02 dollars), however, are part of a group of six companies that got their hands on the latest patents The telecoms equipment maker Nortel (1.82% to 29.14 dollars). The acquisition represents $ 4.5 billion (3.10 billion euros), after an auction that Google has removed (2.89%) and Intel (1.67% at 22, $ 53)

EMC Corp., and Sony Ericsson are the other members of the winning consortium, Nortel said in a statement released Thursday night.Telecommunications giant to the Internet bubble burst, Nortel filed for bankruptcy in January 2009 and has since liquidated most of its assets, raising about $ 3.2 billion.

In any other industry, General Mills (0.35% to 37.35 dollars) announced Friday the completion of the acquisition of half of the yogurt maker Yoplait, which he was the franchise in the United States. General Mills bought for about $ 1.2 billion (830 million), with the investment fund PAI Partners and the cooperative Sodiaal, 51% stake in Yoplait SAS and 50% of the entity holding world Yoplait brands.

Monitor prices and margins on agricultural products launched in September 2010 will make its findings on Monday. According quotidienLes Echos, the 250-page report, commissioned by the Ministry of Agriculture in collaboration with INSEE and Agrimer, the responsibility of leading retail chains in maintaining the sales price to consumers despite lower commodity prices.

Cherries five times more expensive

The experts, headed by Philippe Chalmin, an economics professor at the University of Paris Dauphine, studied agricultural production subject to the most serious crises in the last ten years such as milk, beef and pork, and fruits and vegetables. According to their findings the distribution has made such an important and constant gross margin of red meat even though the farmers of this category recorded the lowest incomes.

The situation is similar with regard to pork. In ten years from the final price going to farmers has increased from 45% in 2000 to 36% in 2010. At the same time, one devoted to retailers jumped 39% to 55%. The long-life milk, gross margin was doubled when the signs that producers declined. Distributors also apply high margins on fruits and vegetables. Cherry cherry has been charged five times more expensive to consumers that it was paid by the distributor free credit score. Only segment where margins have been reduced signs: the yoghurt.The report provides no explanation but Les Echos believe that the power companies such as Danone, which reach more to negotiate prices is one reason.

Annual Report

The report, which should help parliamentarians better navigate the debate between producers, manufacturers and distributors for years, however, said it is difficult to track the price of a product from production to its exposure on the shelf. Investigators also complain that the distributors did not provide all the necessary elements to determine the composition of the margins.Information they hope to meet next year, the Observatory should indeed provide an overview of the situation every year.

ALSO READ:

»Food: price increases are inevitable

"Average basket price: 2.4% (association)

"The bread rose by 18.6% in 5 years

"In ten years, the price of meat increased by 24%

"Agriculture: price observatory ready

"The government soothes irritated farmers … but distributors

Greek in the storm, the galley of the euro features a 18th passenger. It is not a secret, he even want to take orders. The United States is also concerned about a shipwreck in Greece that the Old Continent. They have continued to print their tempo in recent days to force the European crew to recover.

In Luxembourg, held since Sunday in yet another ballet departmental emergency, the American effort has found a leader: John Lipsky, the IMF acting boss since the resignation of Dominique Strauss-Kahn. Monday, early morning, we have even seen take the pen and help correct what would become the final declaration of the Euro, according to several witnesses. Gender confusion? Among the Europeans at least, there is no doubt about the role vested in this native of Iowa, former chief economist at Salomon Brothers and JPMorgan."Lipsky is the U.S. Treasury and defending U.S. interests in Luxembourg, 'says one diplomat. The CEO can afford. Age 62, he announced his retirement before the arrest of DSK.

Under his leadership temporary, the IMF has taken a much more demanding vis-à-vis the financially troubled countries of the European Union. The turning point came during a visit to three with Angela Merkel and Wolfgang Schäuble, on the sidelines of the G8 summit in Deauville, said a European official. Prior to the rescue of countries such as Greece, Ireland and Portugal, the fund was content with a European political commitment. Since then, he stands still as his balls timelines, detailed austerity plans and supports encrypted.This partly explains the surprise decision of the Eurogroup, on Monday, to condition the release of the fifth tranche of the loan to Greece promised a vote by Parliament in Athens, new austerity measures and to a credible plan for privatization.

"Germany, a key country"

There is no mystery no longer on Washington's annoyance at the failure of the seventeen countries to overcome their susceptibilities to seriously address the problem payday loans guaranteed no fax. "Over the past year, the euro will fall into relapse and we see only bandages to stop the bleeding, said a U.S. official. The problem consumes time and energy of the Europeans. The world turns and do not wait. "It is also the best interests of the United States. A weak euro would threaten the sustained U.S. recovery, not to mention a rise in interest rates.More seriously, a European banking meltdown could spread to the other side of the Atlantic, reflecting the collapse of Lehman Brothers in 2008. For the second time in less than a year, Barack Obama is telling the Chancellor that it needs to hand the wallet in favor of Athens. "Germany is the key country," stressed the president.

Christine Lagarde, a candidate for the succession of DSK, is more eager to place the main shareholder of the IMF. On the night of Sunday to Monday, the French minister took it upon herself to keep closely informed Treasury Secretary Timothy Geithner. It was not a "phone G7" as improperly submitted.But a conversation to explain that two vital partner why 17 had once again decided not to decide on Greece.

Appointment is made Sunday, July 3 for a new conclave of the Eurogroup dedicated to the Greek debt. With the cap of the IMF, but also speaking on behalf of Washington, John Lipsky has not concealed his impatience Monday. He commanded the Europeans to "immediately put an end" to their debate on the restructuring of debt and start a new fund to rescue the euro. And he clearly put in danger the balance, "This is to prevent the crisis spreading from the periphery of Europe to the center and from there to the rest of the world."

ALSO READ:

»COMPUTER GRAPHICS – Greece: scenarios of the crisis

"The resistance against privatization is organized

Renault would be in the final stretch to complete the project that should enable it to accelerate in Russia. The manufacturer is about to conclude an agreement to take control of Russian automaker AvtoVAZ, said the Japanese newspaper Nikkei. Under the terms of the negotiations within reach, the newspaper said Nissan would purchase 25% of Avtovaz for nearly a billion dollars. Renault are already owns 25% plus one share of the Russian manufacturer since February 2008, the alliance would then become the majority share of AvtoVAZ, said Japanese business newspaper.

Thus, Carlos Ghosn, CEO of Renault-Nissan has made the rise in the capital of AvtoVAZ a goal of the alliance. In February, he said, hoped that discussions result in the current year.A source familiar with the matter, however, told Reuters that the talks would "probably take several more months."

After the conclusion of the agreement, the alliance would include assembling a compact car in 2012 in a Nissan factory Avtovaz of central Russia, and plans to build another production site in Russian Far East low interest personal loan. The three manufacturers might also produce a very low-cost car for emerging markets at a plant of AvtoVAZ, the newspaper said.

Like China, India or Brazil, Russia is a growing market that focuses the attention of automobile manufacturers: the next few years, four million vehicles could be sold annually in Russia, volume doubled from the current level. Renault aims to capture, with Nissan and AvtoVAZ, 40% of Russian market in 2015.Moreover, the entity Renault-Nissan-AvtoVAZ would be the third largest worldwide, with 7.23 million vehicles sold in 2010, behind Japan's Toyota and General Motors.

ALSO READ:

"What Renault is preparing for its strategic plan

"AvtoVaz must remain 'leader' in Russia

From this Tuesday, June 14, the fish will be on the shelves of foreign origin. In any case, this says a study published by the NGO OCEAN2012 and Nef (new economics foundation). Dubbed "the EU's growing dependence compared with fish from elsewhere," the survey said that from Tuesday, "We go fishing for fish other" because the reserves in the waters of the European Union are exhausted . For the Hexagon, "the date of self-sufficiency in marine products now comes six weeks earlier than in 2000." Without aquaculture, France even become dependent upon May 7

The country is obviously not the only one to get his fish outside EU waters. Further, where the fisheries sector is less developed, starting much earlier. This is the case of Austria, an enclave in the mountains, has to import from January 15, or of Germany (April 27)."It is surprising to note that this is also the case in some Member States with access to substantial EU marine waters, including Portugal (April 26), Italy (April 30), Spain ( May 8), "says the report.

Overall, the rate of self-sufficiency of the French following a downward trend common to all 27 EU countries. The average date on which member countries must import is currently July 2. "Last year was July 9, this indicates a decline of fishery resources in the EU of about 200,000 tons in twelve months," adds the study.

"We play with the future of stocks"

The French situation is, however, made more remarkable by the boom in demand for fish.The French consume twice as effects of seafood (34.2 kilograms per person per year) than the global average (17.1 pounds) according to 2008 figures from FAO and Eurostat, cited by study. The EU average stands at 22.1 pounds. "By eating more fish than the waters of the EU can not produce, we play with the future of fish stocks and communities dependent on fishing. We are risking the jobs and livelihoods, both within the EU and beyond, "says Rupert Crilly, co-author of the report no faxing payday loan.

"Fish stocks are a renewable resource. Yet, according to figures from the European Commission, we draw the fish faster than the stocks are able to rebuild, "says the study.The conclusion is clear: "In the EU, most of overexploited fish stocks is valued and many of them face a high risk of exhaustion."

Reforming the CFP

How then to match the ever increasing demand for and supply of fish within the EU? For the authors of the study, the answer is in the Common Fisheries Policy (CFP). This must be reformed next year for an application to January 1, 2013. To put the stocks in good condition, OCEAN2012 therefore demands a review of access rights to resources for each country. "We should set up an evaluation grid with criteria such as environmental impact on the capture of juveniles, on the release of CO2, illegal catches," said Stephan Beaucher policy adviser for fishing OCEAN2012 and co-author of the study."The criteria are also social because 100 tonnes of fish can provide 15 permanent jobs." Based on this grid, a bonus-malus loaded weight of the fishing rights for the member countries would be established.

While waiting to present his ideas to the European Commission, the NGO has read the first draft of reform. It includes bans on ocean dumping, an objective of maximum sustainable yield by 2015 expected to provide only the surplus fishing stocks and the introduction of individual transferable fishing quotas between countries."We must focus on environmental sustainability but the Commission refuses to make this a priority," says Stephan Beaucher which provides that "power relations are being put in place and it'll be hot."

ALSO READ:

"France is a great maritime nation unwitting"

"Uncertainties about the future of bluefin tuna

The French did not wait to see their incomes grow to consume more. Consumption expenditure of households are divided up in 2010 to 1.3% in volume against a slight increase of 0.1% the previous year. They contributed well to the tune of two thirds of the growth of the French economy last year, even though the purchasing power slowed its progression, according to a study by the INSEE.

Indeed, the rising purchasing power of the French was 0.8% in 2010, against +1.3% in 2009, hit by rising prices driven by oil. The Institute of Statistics shows that even if one deducts the expenditure incurred under a contract renegotiable difficult in the short term (rent, water, gas, electricity, insurance, telecommunications, etc..) Purchasing power individual level falls slightly down.

"The increased consumption for almost all positions," notes INSEE. Clothing costs rebounded 0.4% after falling 4.2% the previous year. After falling 3.5% in 2009, spending at hotels, cafes and restaurants are also lifts, 1.1% by volume. The cost of heating and lighting by volume rose 4.8% and spending on services of the information economy such as telephones or computers rose 4.2%. Conversely, with the end of the scrapping, purchases of new cars fell by 4.9% in 2010 after they jumped 18% in 2009.

ALSO READ:

"The price of gasoline is still beating records

"Bercy officially freezes gas tariffs from 1 July

"The French consumption has reached the end of 2010 growth

Wall Street puts an end to four consecutive sessions bearish on Wednesday. The Dow Jones lost 2.23% to 12,290.06 points, the Nasdaq yield 2.33% to 2769.19 points and the S & P 500 was down 2.28% at 1314.55 points.

Tuesday, as all global markets, the U.S. stock market had closed on a sharp rise, the Dow Jones climbed 1.03% and the Nasdaq by 1.37%. Investors, who were returning from a long weekend, had welcomed with relief the press releases stating that Germany would give up a debt restructuring of Greece.

On Wednesday, the new no longer effect. Quite the contrary. Moody's has cooled financial markets that had begun to hope that a solution had been found to stabilize the financial situation in Greece.The rating agency downgraded two notches note saying the country more than 50% the risk of seeing the country fail.

This decision adds to several bad macroeconomic news.United States, the employment figures in the private sector show an increase of only 38,000 in May, according to the firm ADP, while analysts were betting on 170,000 net hires.

Construction spending rose 0.4% in the U.S. in April, according to a Commerce Department estimate released Wednesday in Washington, and contrary to that of analysts who had forecast a decline of this indicator.

Manufacturing activity has slowed markedly in the United States in May, according to the index of purchasing managers released Wednesday by the industry trade association and ISM fell to 53.5%.

Side currency, the euro decreased again against the U.S. dollar after the rating is downgraded from Greece at 1 cash advance loans.4330 dollars (-0.46%).For their part, oil prices fell sharply Wednesday in New York, a barrel of benchmark dropping $ 2.41 to 100.29 dollars in a market undermined by disappointing indicators, especially for job creation States USA.

Yahoo!: -4.26% to 15.85 dollars

Yahoo has resolved its dispute with Alibaba Group in connection with the transfer by the Chinese company's online payment system, Alipay, its chief executive Jack Ma said on source familiar with the matter. The two companies reached an agreement before the meeting with analysts from Yahoo last Wednesday. But the agreement requires the green light from the founder of Softbank, Masayoshi Son, who sits on the board of directors of Alibaba. He was quite reluctant, says one. Japanese Softbank is a shareholder of Alibaba and Yahoo Japan.

Google: -0.65% to 525.60 dollars

Eric Schmidt, the executive chairman and former CEO of Google, said Tuesday night had "planted" on social networks four years ago. He takes the responsibility for the error that allowed Facebook to be the undisputed leader in the category.

Phillips-Van Heusen: 0.58% to 66.35 dollars

Phillips-Van Heusen for its part, announced a net profit of $ 58 million (79 cents per share) in the first quarter of fiscal 2012, against $ 28 million loss (53 cents per share) a year before. The turnover was doubled to 1.37 billion against $ 619 million a year earlier. The group is therefore the goal of annual earnings per share to range between 4.80 and $ 5 per title.