World Articles

Wall Street was plunged into doubt. Around 18.20, the New York Stock Exchange, the Dow Jones gained 0.16% to 10,430 points while the Nasdaq lost 0.22% to 2231 points. The S & P's side takes 0.21% to 1107 points.

The markets had already started the session on an uptick, pending the speech of Barack Obama on the state of the economy. This has reinforced doubts about the slowdown, fueled since the beginning of the week by the Fed. Obama has indeed reported an economic recovery "painfully slow". The President has yet tried to reassure the markets: "There is no doubt that what we are trying to do is designed to boost growth and create additional jobs in the economy. I mean, it is our priority. "In vain.

Moreover, U.S. wholesale inventories rose 1.3% in July, their highest rate since July 2008, reaching 404.98 billion dollars (318.84 billion euros). This increase is more than three times greater than that envisaged by economists, who expected an increase of 0.4%. The ratio of inventories to sales, which measures the theoretical flow time in inventories, rose to 1.16 months, its highest level since February, after reaching 1.15 months in June

On the foreign exchange market, the dollar loses ground again against the euro. The single currency traded at 1.2731 dollars (0.42%).

Electronics supervision

On the side of values, maker of semiconductors, National Semiconductor, released after the stock market, strong results, benefiting from strong demand for chips for mobile phones and terminals industrial applications.However, projections of group sales are below consensus expectations. In its fiscal quarter ended August 29, National Semiconductor has earned a turnover of 412 million, up 31%. The operating margin was 70.9% (against 61.1% last year), a record for the company. The titles are punished: -5.47% to $ 12.20.

For his part, the U.S. manufacturer of electronic components Texas Instruments (-0.80% to 23.65 dollars) tightened its forecast for the third quarter, with turnover expected between 3.62 and 3.78 billion dollars, which would increase over one year. The previous range was advanced in July a quarterly revenue expected between 3.55 and 3.85 billion dollars.Earnings per share are now expected between 66 and 72 cents, against a previous range of 64-74 cents.

Always on the side of values, the BP (+0.16% to 38.08 dollars) traded on Wall Street, announced in the morning one week postponement of the publication of its results for the third quarter, a delay that The company justified by the complexity of accounting for costs related to the oil spill in the Gulf of Mexico.

Also note, the giant Internet Google (-0.27% to 477.48 U.S. dollars) has announced the opening of a research and development in Paris, which should employ fifty engineers invest between 5 and 10 million dollars in the creation of a cultural center.

The atmosphere was tense on Wall Street Thursday. The Dow Jones ended with a small increase of 0.27% to 10,415 points. The S & P takes at the end 2236 to 0.33% points while the S & P gained 0.49% to 1104 items.

But the enthusiasm of the opening has gradually given way to anxiety at the end of the session. The first feeling was caused by two pleasant surprises later statistics: new jobless claims, which fell sharply (-5.6%) during the last week of summer vacation, to 451,000 when the markets expected 470,000. Then, the trade deficit fell to $ 42.8 billion.

The second feeling was caused by the announcement of a possible fundraiser 9 billion euros by the first German bank, Deutsche Bank.This operation, which could serve to increase the capital of the institution has boosted investors' concerns about the health of the banking sector in Europe.

The announcement immediately led to a slowdown on Wall Street where the indices have erased their gains after flirting with an increase of 1% during the session. Evidence of their great excitement, U.S. markets had closed up Wednesday, erasing some of the losses of the day, partly reassured about the strength of European banks.

OECD pessimistic about the U.S.

On the foreign exchange market, the euro lost ground against the dollar, while the market is concerned about the latest Greek figures. The euro is worth 1.2704 dollars (-0.15%).

On the macroeconomic front, investors do not really react to the figures released in the morning by the Organization for Economic Cooperation and Development (OECD).According to the deceleration of global economic recovery could be greater than expected growth in the G7 could fall to about 1.5% in the second half of 2010. For the U.S., the OECD expects a loss of power in the fourth quarter to 1.4% from 2.0% in the third against 1.6% in the second and 3.7% in the first fast cash online.

McDonald's sanctioned

On the side of values, McDonald's announced Thursday an increase in sales in restaurants open more than a year in August, thanks to strong sales of cold drinks in the United States. Sales in comparable number of stores increased 4.9% on the month of August, against an increase of 2.2% in August 2009. The titles are yet shunned: -2.27% to 74.35 dollars.

Moreover, the Constable of the British, the FSA has condemned Thursday Goldman Sachs (% 1.09 to 149.15 U.S. dollars) to a fine of 17.5 million pounds (21.2 million) to have breached its obligations under the sale of U.S. real estate derivatives highly risky.

Always on the side of values, the U.S. producer of industrial gases Airgas (+0.40% to 64.85 U.S. dollars) has announced that its board had rejected "unanimously" raised a takeover offer by rival Air Products, enhancing it to 5.48 billion.This offer "continues to grossly underestimate the value of Airgas, argued the CEO, Peter McCausland.

Note also, subject to consult the record of American Biotech, the French laboratory Sanofi Aventis would consider raising its takeover offer for Genzyme (+0.23% to 70.63% dollars) to $ 71 per share, DealReporter, a subsidiary of the Financial Times. -Sanofi Aventis declined to comment on these rumors.

Finally, the BP group (-0.91% to 38.02 dollars), listed on Wall Street, insisted Wednesday on a "shared" in the explosion of the Deepwater Horizon platform in the Gulf of Mexico after a long internal investigation into the origin of a disaster that has already cost $ 8 billion.

The U.S. stock market should open in the red on Wednesday, showing caution before the verdict of the Fed on the health of the U.S. economy. Futures on the Dow Jones, Standard & Poor's 500 and Nasdaq 100 fell back in effect respectively of 0.25% to 10,313 points, from 0.26% to 1 088.50 points and 0.09% to 1 855.75 points . On Tuesday, the New York Stock Exchange, troubled by doubts about the health of European banks ended the session down sharply. At the close, the Dow Jones slid 1.03% to 10,341 points, the Nasdaq lost 1.11% to 2209 points while the S & P dropped 1.15% to 1092 points.

The euro recovers against the dollar

On the foreign exchange market, the euro penalized yesterday by concerns over the European banking sector recovered himself.Having lost 1.46% Tuesday, the euro climbed to 1.2713 dollars in mid-session.

On the macroeconomic front, the release tonight at 20 o'clock in the Beige Book Fed instant report on the U.S. economy, is the principal rendezvous of the day, across the Atlantic.Although unemployment figures better than expected, released last Friday, the U.S. central bank should continue to keep interest rates low.

Also note in the current macro, China has again rejected any foreign pressure on Tuesday the exchange rate of its currency, the yuan, while reaffirming the need to maintain good relations with the United States to During the visit to Beijing two senior White House officials need a personal loan with bad credit.

Bank stocks in the viewfinder

On the side of values, while Sanofi-Aventis continues to woo Genzyme, the U.S. Laboratory, Bristol-Myers Squibb agreed to buy another American biotech, ZymoGenetics, for 885 million dollars.

After its disappointing second quarter, including its defense division, Boeing announced the reorganization of its military aviation activities.The number of divisions from six to four, with a consequent 10% reduction in the number of posts.

Today on Wall Street banking is likely to remain under pressure. The feeling of increased bank risk has also been fueled by the meeting yesterday, the Basel Committee, responsible for setting new solvency rules for banks. However, after this meeting, the committee has maintained the suspense in not distributing a press release. It will do that Sunday. In the morning, a Wall Street Journal had rekindled doubts doubt on the reliability stress tests on European banks, whose results were published at the end of July.

Due to the close of trading on Wall Street Monday due to holiday, financial markets were closed in Paris trading volumes starved (1.7 billion euros of shares traded), slightly increase of 0.34%. With the reopening of U.S. exchanges, they should return to normal levels on Tuesday. However, caution is still required, especially after the Bank of Japan has expressed reservations about the economic outlook in the United States.Around 8:15, the future of the CAC 40 rose 0.33% to 3683.50 points.

The Nikkei, less than an hour from the close of the Tokyo Stock Exchange, fell sharply from 0.82% to 9224.94 points.

Eurogroup meeting on tax credit

On the macroeconomic front, the day will be especially marked by the meeting of EU finance ministers in Brussels to discuss the establishment of a tax on stock trades and discuss financial supervision in Europe.

On the currency markets, the euro back to a high of three weeks against the dollar, pulled down by renewed concerns about the European banking sector.At about 8:00 the single currency worth 1.2801 dollars (-0.57%).

On the side of companies, two new publications interim results are scheduled before the opening of trading on Tuesday: Medica and Inter Parfums.

In addition to cyclical stocks traidtionnels – banking and automobiles – investors will closely monitor the behavior of steelmakers after the announcement of the recovery plan of 50 billion dollars of Barack Obama and rising steel prices. Chinese steelmakers show increases of about 4% to 5%.

Peugeot unveiled the price of its electric car: it will cost about 30,000 euros. According to Japanese newspaper Nikkei, the group will produce an electric vehicle in 2012 in Vigo, Spain, with its partner Nippon Mitsubishi.

Deutsche Bank announced Monday it is mounted to the capital of France Telecom at 5%.This raises concerns of a particular union, which fears that it is harbinger of a merger with Deutsche Telekom.

The laboratory specializes in homeopathy, Boiron, whose share price was suspended on Monday, announced this evening have succeeded with the Court of Appeal of Versailles in a tax record.

After a half year marked by declining performance, Audika, the specialist distributor of hearing aids, said he adapted his communication campaigns to bring back into its stores seniors stung by a gloomy economic climate.

Vinci has won a contract worth 264 million euros for an underground parking and landscaped grounds in Qatar.

As every year, real bargains, but also a whole series of nightingales waiting buyer distracted or just looking to be finally removed from stock. First tip: If you are a fan of Bordeaux, Ruez you on maroon 2008! Due to the global crisis, this vintage very good bill has been sold off on the world market did not want. The French supermarket did not let them pass, which was very wise. The 2009 being sold today are so high price they are exclusively reserved to the speculation.

For these burgundy, rush upon the opening, even earlier if possible, because deals are going fast! As prices are ultra competitive, especially this year, the first buyers of Bordeaux, the catering professionals, are in their starting blocks.The shops are often open evenings, are you invite! The best way to go on the shelves the day before and discuss with the department manager. A simple phone call to the store is often very effective.

As the maroon represent more or less half of the supply of wine fairs, each company seeks to differentiate itself from other regions. A special effort was made this year on the Rhone, the second region of France of quality wines. The focus should be the 2007 vintage in Bordeaux poor, but very successful in the Rhone.Find a good Burgundy is always difficult, because the region is small, but some retailers have managed to build a genuine partnership with great producers.

Last but not least, do not go to wine fairs shrinking violet! Carefully prepare your shot and go straight to the point, because otherwise you will never find the coveted bottles. In all the signs, the best deals are in cold areas, those that are immune to the first sight.Happy hunting!

Dates of wine fairs
• Crossroads of September 7 to 18
• Casino September 7 to 18
• Giant of 7 to 18 September
• Lavinia September 7 to October 6
• Intermarche of 8 to 18 September
• Monoprix from September 8 to 19
• Franprix from September 9 to 19
• Auchan September 14 to October 2
• Leclerc from September 22
Système U • September 28 to October 10
• Carrefour Market from September 29 to October 9

Websites
• Savour Club () August 20 to September 22

• ChateauOnline 31 August to 4 October

• Wine and Co from September 1 to October 3

• Vinothek Bordeaux from September 3 to 27

• From 1855 to September 6

• Jean Merlaut 15 September to 15 October

The base effect was particularly favorable. But overall, companies listed on the CAC 40 – stock index comprising the 40 largest market capitalizations in France, headed Total – can boast of in the first half of fiscal 2010 profits up 86% over the first six months of 2009. Profits have almost doubled, reaching some 41.5 billion euros, against less than 23 billion a year earlier. To recall, throughout the year 2009, profits amounted to 47 billion euros Payday Advance.

Alone, Total, BNP Paribas and France Telecom accounts for one third of total profits. Total remaining the most profitable company in France (by far) Continue along the road and with an increase in profits by 28.1% in the first half of 2010 versus the first half of 2009.Other companies that have successfully managed the first half of the year, L'Oreal and LVMH, the luxury market is still juicy, Sanofi-Aventis and Capgemini, who continue their acquisition strategy.

LE FIGARO. – The government will make insurers to contribute to finance the social debt. How do you react?

Bernard Spitz. – Insurers are aware of the state of public finances and ready to participate in the effort. But the "planer" has been heavy handed. These measures are excessively severe: according to our calculations, they could not represent three billion euros, but up to 4.7 billion. Of the 10 billion effort on the niches sought at all, is asking a lot insurers and policyholders. And it is inconsistent with the objective of the economy and employment. Indeed, money from life insurance does not sleep. It is invested in long-term 54% companies in the form of shares or bonds.And the rest financed mainly sovereign debt.

But you knew that the tax shelters were the target of government …

Life insurance is not a niche tax! It is easy to label and all the products that we want to address. In the case of life insurance is particularly unjustified. She has a specific tax regime, as all savings products, which is the logical counterpart of an investment horizon longer term. Life insurance is not a niche, is the principal residence of the French investment!

What action is the worst?

All the measures presented have a strong impact. But the truth regarding the tax on capital reserves would undermine the solvency of insurers at a time when the sector must adapt to turmoil with Prudential Solvency II.It is indeed a drain 1.6 billion on capital of insurers can only affect their competitiveness in terms of solvency. We did not ask the French swimmers to compete in the European Championships with a sack weighted with stones … Do not ask the insurers!

Regarding life insurance, it is not a levy increase. The contract holders will pay just multichannel CSG and CRDS earlier on their compartment euro …

Exactly. However, this measure presents legal problems. The MPT contract, even if it has a compartment in euros and another in units of account, is everything. The product from its compartment euro is assumed that during the settlement of the contract. It will then reimburse the insured the overflow of CSG and CRDS eventually paid.Also, this would mean a very heavy management for insurance companies.

Baroin believes that insurers and mutuals have the ability to not pass on, the new tax agreements supplemental health officials. What do you think?

I fear that this is not so simple. The competition will be between companies, but the tax will necessarily be passed on to policyholders. Is mechanical. The Unocam, which brings together professionals in the supplemental health insurance, had proposed a plan of 3 billion euros in savings on health spending. These are structural reforms of this kind should be put in place rather than increasing taxes.

What do you do to limit the impact of these measures?

We look first to know the exact content of the texts.Then we will make proposals to the government as the national representatives in a positive way. If appropriate regulations improve the competitive environment of our businesses in France and Europe, this will be the best guarantee for tax revenues.

ALSO READ:

"VIDEO – Life Insurance:" The performance will be slightly cut "