In the past month, little more than 3,000 mergers and acquisitions have been recorded by Dealogic, but they were larger and ultimately totaled some 241 billion dollars. This amount had not been exceeded since December 2009, when analysts were anticipating a return of marriages companies.

Unless the meantime, the European crisis and volatility in financial markets have cooled the planet finance. And engagements have been postponed.But now that the equity markets stabilize, that Europe has erased all fear most about its viability and that the U.S. economy marked positive signs, a new wave of mergers and acquisitions could emerge. Above that company accounts have significantly cleaned up and financing conditions have also improved over the last few months.

But, given the length of the process, do not expect a peak to occur before the end of the year or early next year.

A climate still uncertain

If Sanofi-Aventis materialize its operation to about 20 billion dollars over Genzyme, the counter of mergers and acquisitions would be more energized.And the big investment banks that advise companies in discussions, would be delighted to manage more than big business.

But analysts said the large operations in July – for example, EDF and the China Cheung Kong $ 6.9 billion – were already in the pipes, and it is too early to predict a genuine resumption of the M & A (Merge and Acquisition) in the world. There are still too many uncertainties about the evolution of world economies.

Funds return

Investment funds account for 27 billion worth of M & A in July alone. A larger weight should be maintained, after the years 2008 and 2009 of discretion. These funds have indeed considerable resources.

2010 promises to be better than 2009

In 2009, mergers and acquisitions fell by more than half compared to 2008.Of the first seven months of 2010, nearly 1.5 trillion dollars of deals are made. It is almost 15% from a year before.

But we are still very far from the previous cycle peak of M & A – in 2007, the volume has reached 4.000 billion dollars.

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The pill is all the more bitter for the staff unions of sickness, such as primary agents of funds or regional health insurance (CPAM, CRAM), have declined steadily for several years.

From 85,000 in 2003, they returned to 75,243 in 2009, according to the draft agreement on objectives and management (COG) which AFP has obtained a copy. Like all governments, the CNAM is subject to the rule of non-replacement of a staff of two. But already, Michel Régereau announced he would vote against.This could lead, if followed by his counsel on a "blocking" quite rare in the annals of Secur. "So far, the presidents of unions secu supported the compromise reached with the government and sought to obtain a majority," he said.

"For the first time a president of CNAM will vote against the government decision on a matter as important," he said. "I think it's a first," concurred Carolina Ferrera, Director CGT, adding that the central union "can not condone such job losses.

According to Michel Régereau, the Fund had estimated it had saved 850 jobs, bringing the losses in 3350. But with nearly 4,000 positions eliminated, "then we can not.""Our network of primary funds is to be a challenge (…), it will be very hard for regional banks, they will retreat to their core business and our strategy to improve the efficiency of the health system will be lost, "he added.

For example, the Fund wishes to develop information to health professionals, improve the conditions of discharge from hospital for patients, and developing diabetes prevention, "he listed. "To develop these programs, we need means," he said.

"It will be a disaster is already explosive into the coffers of secu!" For both the personal to the insured, Carolina Ferreira warned, saying the government demands "unacceptable.""We are dealing with a government that is deaf" and "blindly applying the rule of RGPP," the General Review of public policy, "she accused.

Remains to be seen what the outcome of the vote of the board of directors, composed of 35 members (unions, employers, mutuality, qualified individuals, patients' associations, family associations and professions). If he had voted against the COG 2010-2013, "is the state that (would) hand to the application," said Carolyn Ferrera, and could possibly refer the matter to Parliament, according to Michel Régereau.

Dilemma for voting against unions because they would lose part of their role.

The tanker registered in effect a pretax charge of $ 32.2 billion in its accounts. An amount which includes the escrow account of $ 20 billion promised to the U.S. authorities to ensure all compensation and cleanup costs and damages incurred to date, 2.9 billion dollars.The loss, compared to that office, is limited by a good result of oil and a favorable tax effect of about 7.188 billion dollars.

And to honor this provision, the Group announced the sale of 30 billion dollars in assets over the next 18 months, including assets related to oil exploration.

The ownership policy has been revised

The group's ownership policy is revised. Management pointed out "our shareholders have received a dividend since the explosion of the platform and the oil spill that followed it." The leaders said "the Council will decide whether to distribute a dividend in the publication of results for the fourth quarter of 2010 to February 2011.

Finally, the announced departure of Tony Hayward is now official.The CEO of the group notorious for its mismanagement of the oil spill will be replaced by the American Robert Dudley. Hayward will share the leadership for its non-executive of TNK-BP. He will receive compensation equivalent to one year's salary, or 1,045,000 pounds (1,250,000 euros). Hayward had angered the U.S. administration for having complained of being overstretched since the beginning of the disaster and for having, during his congressional testimony, tried to dodge responsibility for his group.

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Even in Germany, where doubts Dax Frankfurt Stock Exchange ended down 0.52% len at 6009.11 points. The London Stock Exchange also closed the day on a drop of 0.21% to 5148.28 points.

The markets are cautious before the release of stress tests on European banks on Friday. The wait also dominated by the rise of publications of results in Europe and the United States.

The macroeconomic environment also remains uncertain especially overseas. Chinese Premier nonetheless sought to reassure investors on the country's economic growth."Everything goes as planned," he said Monday.

On the macroeconomic front, the deficit of the balance of current accounts in the euro area widened in May to 5.8 billion euros against 5.6 billion in April, according to figures from the European Central Bank.

On the currency markets, the euro resists and remains above the $ 1.29 mark Monday morning (0.09%).

Banking and auto bad posture

Four days before the release of stress tests, the values remain very bank surrounded. Societe Generale advance 0.56% after losing more than 5% last week, and Credit Agricole st wins 1.15%, BNP Paribas and Dexia 1.48% 1.43%.

The car values are under profit taking in the image of Peugeot -0.35%) and Renault (- 0.13%).

Despite a sharp rise in turnover (+22% to EUR 144.4 million), Eurotunnel reported a net loss of 44.8 million euros, up more than 36 million euros over the same period in 2009. Contracts awarded on the cons-performance: the action loses 2.86% to 5.8 euros and is on track to record its fourth consecutive decline. At this time, Eurotunnel has lost more than 7% in four days.

This afternoon it was the turn of Edenred, two weeks after its IPO, Guyenne et Gascogne, HF Audika Company and to disclose their turnover in the second quarter. Soitec publish its turnover in the first quarter.

GDF Suez is preparing a cash offer of 6.4 billion pounds (7.6 billion euros) on the British electricity group International Power, confirming a report in The Mail on Sunday.In previous discussions about a reconciliation between the two groups had lasted several months before a halt in January, the newspaper said. For its part, International Power shows a net increase of 9.38% to 346.50 pence in London Bours.

BMB Group, an investment company in Brunei, has denied information from the Sunday Times that she had planned to bid for Club Med 800 million euros. BMB Group, which manages funds for the family of the Sultan of Brunei, have the support of three of the four major shareholders of Club Med, according to British newspaper, citing unidentified sources close to the situation.

At the Salon of Farnborough (South London) that opens Monday until July 25, EADS should reassert its confidence in its chances of winning U.S. tanker contract for Boeing cons.The parent company of Airbus is ready to strengthen the United States for eight billion dollars.

The Partouche group will make a capital increase of approximately 100 million euros to reduce its debt and improve financial liquidity of the group of casinos. The subscription price is set at two euros per share while the subscription period will run from July 20 to August 2.

ADP announced that its passenger traffic rose 2.3% in June over one year. In the first six months of the year, traffic appears down 2.1%.

National Australia Bank (NAB) on Monday agreed with its Asian subsidiary Axa and Axa Asia Pacific (AAP) to extend until Aug. 31 offer of 11.5 billion dollars on NAB PAA.

The general and regional councils also have used the gun tax. But it was not enough, especially for departments. For the latter, the surplus between income and expenditure has shrunk by 17.8% in 2009. For social spending soared 5.3%.The crisis has pushed the bill of RSA and the aging of the population that of personal autonomy allowance (APA). The elected county expect a similar drift in 2010, "For some departments, the budget balance is very fragile," concludes the report.

Reduced investment

However, in 2011, the constraints will become even stronger. The funds that the departments, but also municipalities and regions, receiving state, which represent nearly 30% of their income, will no longer increase. This was decided by the government. Moreover, the reform of business tax will reshuffle the cards in local taxation. The communes and intercommunal retain a large basket of tax which they may determine the rate.The departments themselves, will not play on the property tax and regions on the gray card No fax cash advances. A situation that worries the county and regional elected and pushes them to invest less.

In 2010, capital spending will drop the first 2.2% and 3.4% of the latter, according to the report. Spared, the mayors expect an increase of 4.5%. "But eventually, the municipalities will be affected because they receive subsidies from the regions and departments," warns Philip Lawrence, in right-wing President of the Finance Committee of the Association of Mayors of France (AMF).

What are the solutions? The local financial professionals, such as UMP or Marc Gilles Carrez Laffineur propose to increase the redistribution between rich and poor communities.Another avenue: better management of intercommunal. For staff costs have mostly slipped to this level (they will grow 8% in 2010). The groups of municipalities have produced savings but duplicates! The government, he promised a reform of the APA to relieve the departments and the establishment of ad hoc aid. "But for now, we are expectant. If nothing happens, we will introduce a bill that will force the state to finally make up our social spending, "said Claudy Lebreton, President PS Assembly departments of France. Meanwhile, between votes and budgets insincere appeal to the courts, the climate remains tense between elected officials and county government.

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This acquisition will enable the world's leading luxury brand Sephora develop the Brazilian market, first in line and in stores, the company said in a statement.

Sack's, founded in 2000 and based in Rio de Janeiro, sells over 270 brands and over 83,000 customers in its database. The site for online sale is one of the three most visited sites in Brazil, with 4 million unique visitors per month. Brazil and beyond, the South American markets are extremely holders for the sale of luxury goods.

In Paris while the CAC 40 has lost about 5% in just four sessions of sharp decline – 10.5% after winning nine consecutive sessions of gains – the hesitation gave way late in the session at a beautiful hike .The CAC 40 gained 1.61% at 3576.45 points.

The euro was down, circa 1750, at 1.2337 dollars (-0.40%), while the gold – even likely – is still dealing $ 1,250 (-0.29%).

A well-attended American Statistical

At the European Central Bank, the M3 money supply fell by 0.2% in May, and remains unchanged over the month. Credit to private sector in euro area gained 0.2% in May over one year, after increasing 0.1% the previous month, according to preliminary results announcement on Monday by the European Central Bank

On the macroeconomic front, U.S. consumer spending rose 0.2% after remaining flat in April, according to statistics released Monday by the Commerce Department. Economists and analysts polled by Reuters had forecast an average increase of 0.1%.

The household income has risen in parallel by 0.4% after rising 0.5% a month earlier.Real disposable income has increased it by 0.5% in May after rising 0.6% the previous month.

The savings rate of Americans has reached 4.0% against 3.8% in April, which represents an additional savings of 454.3 billion annual rate, the highest level since September.

The index of consumer prices PCE excluding food and energy, rose 1.3% over the last 12 months, the Commerce Department said, against 1.2% in April.

But 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 trend, with new positions expected destruction.But a rebound in employment in the private sector is also expected on Friday to reassure the markets, analysts said Aurel Bgc.

The tax credit: 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.

In contrast, three of Basel, the beginning of compromise seems to be emerging.The reform of financial regulation will be based primarily on strengthening capital standards imposed on banks, not the end of 2012 before.

On Monday just before noon, bank stocks are well oriented, but unequally: BNP Paribas stands out, gaining 2.48%, Societe Generale has assembled no more than 0.70% and 0.02% Credit Agricole.

Banques populaires Caisses d'Epargne According to information Wansquare, BPCE Foncia has decided to withdraw 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: -0.08% to 62.72 euros Jean-Charles Naouri, CEO of the group, delivered at Figaro's strategy to cope with a sluggish consumption in France, however, offset by continued momentum abroad.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. Shares rise 1.07% to 14.705 euros in mid-day.

The markets have literally beaten to a few minutes left to return to the green. Before that, the entire session was marked by a gradual decline of the indices, itself caused by the publication of a round of disappointing macroeconomic indicators:

– Entries weekly unemployment rose in the United States during the week to June 12, at 472 000 460 000 against the previous week, according to the Department of Labor. Economists had expected jobless claims averaged 450,000. The entries of the week to June 5 were also revised up from an initial estimate of 456,000.

– Consumer prices in May have suffered their biggest drop since a year and a half under the ambit of the sharp drop in energy costs. The index of consumer prices adjusted for seasonal variations show a decline of 0.2%, the biggest drop since December 2008. Economists and analysts were predicting a similar decline after a decline of 0.1% in April.

– The current account deficit widened in the first quarter to 109 billion dollars, or 3% of GDP, compared to fourth quarter 2009. This is his third consecutive quarterly increase since the low of $ 84.4 billion in the second quarter of 2009, when the international commercial exchange had significantly contracted due to recession.

– The index of industrial activity in terms of the Federal Reserve of Philadelphia has emerged significantly weaker than expected in June and called for a fragile economic recovery in the United States. The index came in at 8 in June as against 20.9 expected and 21.4 in May The employment component falling in the negative, at -1.5 against 3.2 in May, the lowest since November 2009.

– The index of U.S. leading indicators registered a record high in May, according to the Conference Board, suggesting that the recovery of the U.S. economy will continue. The index rose 0.4% to 109.9, after having stagnated in April. Economists projected an increase of 0.5%.The index should continue to increase but more modestly in the coming months due to an unemployment rate still important.

Little comfort in Brussels

The markets were also attentive to the summit of European leaders in Brussels today. Following discussions, the French president Nicolas Sarkozy has sought to reassure markets about the financial health of Spain. Thus, any rescue plan would be the agenda, contrary to rumors markets.

European shares closed higher on a small, grim. The euro, however, is ironed for the first time since late May over the threshold of $ 1.24, to 1.2413 dollar to 18 hours.

AOL supervised

On the side of values, according to several American media, the internet group AOL (1.66% to 22.65 dollars) is about to give the social network Bebo to an investment fund, Criterion Capital Partners, a small fraction of the price he had paid to take it two years ago.

Always on the side of values, FedEx (-0.05% to 78.11 dollars) Wednesday reported a quarterly profit slightly above expectations.

Also note Apple (1.73% to 271.87 U.S. dollars) which said it had registered more than 600,000 bookings for the new version of the iPhone during the first day of marketing.

JM Smucker (6.58% to 61.55 dollars), a group specializing in food, has reported a turnover of 1.07 billion dollars for its fourth fiscal quarter and a Earnings per share (EPS) of $ 1.07 before exceptional items.

Pier 1 Imports (2.62% to 8.23 dollars) a manufacturer of furniture, for its part, reported an unexpected profit adjusted under its first fiscal quarter in favor of improving its sales business on a comparable basis and its margins.

• The legal age of retirement is raised to 62 years: "It is the heart of our reform," said Eric Woerth Wednesday morning.Between 62 and 63 years, Nicolas Sarkozy has finally opted for the less radical change. But the pace of transition to the statutory retirement age will, however, at a pace faster than initially expected: four months per year from 1 July 2011, not three. In practice, people born in 1950 will be the last to be able to retire at age 60. Those born in 1951 will work up to 60 years and four months, those born in 1952 to 60 years and eight months, and so on until the generation born in 1956, for which the statutory retirement age to retirement will be set at 62 years. This implies that the reform will be implemented for everyone in 2018, not 2020. Meanwhile, the age of retirement which can reach a full pension will be increased from 65 to 67 years.A position that is both "reasonable and effective" given the increased life expectancy, argued Eric Woerth. Despite the reform, are on average three years longer to be passed in retirement because of life expectancy, he said. "If the contribution period should remain the only leverage new revenue, it would have to grow up to 47 years to get the same result.

• The contribution period will increase to 41 years and a quarter in 2013 and 41.5 years in 2020.

• The high income and capital income into play: as promised in mid-May by Nicolas Sarkozy, the easier will help shore up the unfunded pension system.

The tax households located in the top of the scale of tax on income will be taxed at 41% instead of 40%, in the name of a "solidarity contribution pension.342,000 tax households, or 1% of the population reporting more than 69,783 euros per share will be affected by this measure, which will not be included in the tax shield.

The capital income will be affected, in the form of a one point increase levies on sales and real estate. The tax credit on dividends received by shareholders should be deleted. The employer contribution will go on stock options on its side of 10-14%, saving 70 million euros, and the employee contribution from 2.5% to 8% payday loan online.

The beneficiaries of pensions hats will also implement a social contribution of 14%, which should bring 110 million euros.

In total, these measures will generate 3.7 billion in revenue.

• The hardship is taken into account: "The reform opens a new right," assured Eric Woerth. "60 years of age will retire worn by employees working." People whose health was damaged because of their working conditions (undergoing disability equal to or greater than 20% of the rent bénécifiant rofessional disease) may indeed leave at 60 with a retreat rate full, whatever their number of quarters. This year 10,000 people are expected to benefit from this new law.

Those who started working before age 18 may also retire between 58 and 60, in the condition that the statutory period of assessment over two years. In total, "over 60,000 people per year will not be affected by a departure at age 62, an unprecedented effort in Europe," argued Eric Woerth.

• The pension scheme of officials close to that of private, for estimated revenue of 4.4 billion. Officials will not be saved by postponing the statutory retirement age. The active groups (police, military …), which currently start at 50 or 55 years, will gradually raised the limit of two years. In contrast, employees of the special arrangements will be concerned that from 1 January 2017.The pension contribution rate on wages of employees, currently 7.85%, will also also gradually increased to match the term of private fixed at 10.55%. The calculation of pensions will instead retain the last six months, unlike the private sector.

• Promote the employment of older workers: "From 60 years, the participation rate of French is the lowest in Europe," lamented Eric Woerth. "The postponement of the age will increase the rate of mechanical activity." In order, however, the influx of seniors in the labor market does not result in an influx of additional unemployed, the Minister of Labour announced on Wednesday "an employment subsidy a year for the unemployed over 55.The development of mentoring remains another lever that the government wishes to promote.

• Improving women's pensions, farmers and unemployed: For maternity leave does further lower the mothers' pensions, the daily allowance paid during maternity leave will now be included in the earnings base for calculating pension. For farmers, the rules of the minimum pension will be reviewed, so that those who have contributed little to the minimum pension of 709 euros. As for the unemployed not receiving benefits, the number of terms validated by solidarity in order to prepare for retirement will now 4 to 6.

"Look at the presentation of the reform by Eric Woerth:

]]> http://article-submiter.com/the-statutory-retirement-age-raised-to-62/feed/ 0 http://article-submiter.com/obama-committed-to-pay-bp/ http://article-submiter.com/obama-committed-to-pay-bp/#comments Mon, 14 Jun 2010 20:24:09 +0000 admin http://article-submiter.com/obama-committed-to-pay-bp/ The White House is ready to do battle with BP. Pace in London who tries to minimize the diplomatic chill cast by the ecological disaster in the Gulf of Mexico, Barack Obama is stepping up its action against the British group. The U.S. president, criticized for his handling of the spill will travel again on the coast, meeting with leaders of BP, and deliver a formal speech to the nation. Such a device intervention is rare. It reflects not only the seriousness of the situation but also the new turn of the screw that the U.S. government wants to give his handling of the disaster.

Thus, the Obama administration requires that the oil put under receivership on payment of its dividend. The goal is to create a fund to pay the damages claimed by the victims of the disaster.On Sunday, White House adviser David Axelrod said "BP has the resources to cover the damage and we will make sure they will do well." He said an independent management of the fund would ensure that the money will be paid on time.

Discussions in BP

The oil group did not show opposition to the creation of such a fund. The board will discuss on Monday at its weekly meeting. It will also define the issue of ownership policy group that should be announced July 27. According to the British press, the English major is preparing to announce a postponement of payment of dividend payable for the second quarter.

In addition, BP could lose control of its oil and natural gas in the U.S. and be allowed to have business with the federal government as a penalty.But that does not stop there. BP could also pay a fine of up to $ 8.6 billion under Oil Pollution Act.

Largest drop in the FTSE

This greater commitment of the Obama administration to want to pay BP is poorly perceived by investors. The track folds nearly 2.5% in morning London Stock Exchange and sign the biggest drop in the FTSE, which advances it by 0.5%. After sessions particularly volatile oil of the title had already sold nearly 10% last week. Since the beginning of the accident, the market value of BP was reduced by almost 44%.