World Articles

The trust is expected to dominate the opening of Wall Street on Wednesday. After closing in the red yesterday, the Dow Jones dropping 1.74% to 11,913.62 points, Wall Street is expected to rebound Wednesday. Future contracts are indeed higher state of around 0.50% on the main index at the opening. Once again, U.S. investors have their eyes on the Old Continent, where an EU summit must deliver in the evening a plan to end the debt crisis in the euro area. With four objectives: helping Greece to boost the capacity of the EFSF, recapitalize banks and improve governance.

This battery is able to prevent contagion of the crisis, while fears now focus on Italy.And even if the prime minister, Silvio Berlusconi, seems to have succeeded in extremis to persuade its ally the Northern League to accept a pension reform demanded by its European partners in exchange for their solidarity. Thus, the Heads of State and Government of the euro area may call Wednesday the European Central Bank (ECB) to continue its purchases of bonds to support Italy and Spain, according to a draft of their summit conclusions which Germany said, however, disagree for now.

Oil prices down

In fact, German Chancellor Angela Merkel for now ensures that no scenario involving the European Central Bank (ECB) to strengthen the rescue mechanism, the European Stability is the agenda of the summit Payday advance.

On the macroeconomic front, the durable goods orders will be published early in the afternoon.Follow the new home sales in September and weekly crude oil stocks.

As for commodities, oil prices are falling: a barrel of "light sweet crude" for December delivery ceded 0.61% to 92.60 dollars. For its part, the euro appears to balance against the U.S. dollar, rising 0.08% to 1.3921 dollars.

Values ​​to follow:

• Lockheed Martin has seen its profits grow by 25% in the third quarter to $ 700 million. The group also raised its targets for 2011.

• Ford: U.S. carmaker Ford on Wednesday released a profit for the third quarter down 2% but slightly above expectations, together with a turnover up 14%. The Group posted a profit of $ 1.65 billion.Based on the number of shares and excluding exceptional items, it amounted to 46 cents a share, where analysts had forecast 45 cents.

• Boeing released on Wednesday a net profit up 31% to $ 1.1 billion for the third quarter, exceeding expectations, but it has revised down its forecast for commercial deliveries for the year.

• ConocoPhillips is required to publish at the beginning of the afternoon's results for the third quarter.

The future of Standard Poor's 500 and Nasdaq 100 predict a small increase in opening of U.S. stock markets on Friday. Thursday already, the New York Stock Exchange ended without direction.

U.S. investors, like their counterparts in Europe and Asia, should be particularly attentive to the development of the debt crisis in the eurozone. They should avoid taking risks when to begin a crucial summit on the debt crisis this weekend. Paris and Berlin have announced that Nicolas Sarkozy and Angela Merkel would speak well Saturday in Brussels to prepare an "ambitious and comprehensive response" to the crisis. Concrete measures will be considered Sunday to be adopted during a second peak "no later than Wednesday."

Discussions will focus on how to increase the capacity of the European Financial Stability Fund (EFSF), but also on the rescue of Greece.Meanwhile, in Greece, the anti-austerity continues. A new law has been de rigueur in the Greek Parliament voted Thursday.

Summit high risk in Europe

For many observers, however, profound differences remain between France and Germany. "There is no joint proposal" European at the moment, has acknowledged Thursday the German Finance Minister Wolfgang Schäuble. For his part, President of the European Commission Jose Manuel Barroso called on Europeans to "compromise" to reach decisions "resolved" and "immediate."

Another failure might further undermine investor confidence in the ability of Europeans to fight effectively against the debt crisis.They would now have a highly sensitive situation at the G20 to be held in early November.

Pressure rating agencies

Rating agencies are increasing the pressure on the euro area. After Moody's, S & P raised doubts about the AAA rating of the long-term debt of France. The agency suggests a probable degradation of notes France, Spain, Italy, Ireland and Portugal according to economic conditions no fax pay day loan.

On the macroeconomic front there is no any major indicator on the agenda of U.S. investors on Monday.

On the foreign exchange market, the euro retreated slightly to 1.3741 dollars against 1.3772 dollars on Thursday night. Oil prices were, themselves, up in the wake of the announcement of the disappearance of the former Libyan leader Muammar Gaddafi.The barrel of "light sweet crude" for December delivery gained 71 cents to 86.78 dollars on the New York Mercantile Exchange while in London, a barrel of Brent North Sea crude for December delivery was appreciating eight cents to 109.84 dollars on the Intercontinental Exchange (ICE).

Earnings up for Microsoft

The side of values, after the close, Microsoft released the first quarter, revenues of $ 17.4 billion, up 7% year on year. Net income reached 5.74 billion, up 6%, while earnings per share rose 10% to $ 0.68.

Sandisk has reported a turnover in the third quarter of $ 1.4 billion, up 15% year on year.Earnings per share were $ 0.96 against $ 1.34 last year.

Altera has recorded sales of 522.5 million dollars in the third quarter, down 1% year on year and down 2% from the previous quarter.

Capital One Financial has released the third quarter net income of $ 813 million against 803 million last year and 911 million in the second quarter.

Chubb Corp in the third quarter earnings per share of $ 1.04 against $ 1.8 last year.For the full year, the U.S. insurer expects operating earnings per share of 5.1 to 5.2 against the dollar from 5.55 to 5.85 dollars in a previous estimate.

Note also, from Monday, October 24, the company Groupon, which specializes in online distribution of discount coupons for shopping in local markets, should do its IPO on the basis of a valuation from October to December billion. However, it is far from the capitalization of 15 to 20 billion, of which Andrew Mason, founder of the company was still dreaming in June.

The French fans of smartphones! According to research firm IDC, sales of smart phones are expected to reach 4 billion euros at the end of 2011, an increase of 33%. This represents the sale of approximately 12 million terminal. "This increase meets the mobility needs of consumers," decrypts Kirk Campbell, IDC's boss. A need that was not lost on retailers. All signs, or almost, now have their mobile applications.

In the wake of its competitors Auchan and Carrefour, the Casino Group has launched its application "mCasino" in October 2010.According to Stéphane Bout, director of information systems group, the mobile phone has become an essential marketing tool for the retail sector.

Lefigaro.fr: How the rise of smartphones he changed consumer behavior?

Stéphane Tip: Even with the Internet, the nature of the relationship between the customer and the brand has been transformed. This relationship is a continuation and leaves the perimeter of the store. This is especially true today with smartphones. Consumers are connected, exchanged opinions on products, inform in real time. The application mCasino, which works with the iPhone and Android, which is also available on the iPad tablet, was developed to make their lives easier, but also to ensure continuity of services that we offer.This launch is a logical extension of our innovation strategy that relies on the use of all electronic media: Internet, kiosks in stores, scannettes and of course mobile phones.

Stéphane Bout, director of information systems of Groupe Casino. Credit: DR.

The lowest in the polls, criticized for running out of ways to boost employment, weakened by a largely sterile confrontation with the Republicans on the issue of reducing the rate of debt, Barack Obama sought to regain control. Anxious to win back centrist voters, the president also caress the idea of ​​taxing the rich more, while the middle class is suffering from the sluggish economy.

It has been this week to support weight, in the person of Warren Buffett, the second property of the United States. For the latter, the "mégariches" are under-taxed. Buffett regrets having paid less than $ 7 million in federal taxes last year. This represents only 17.4% of its taxable income. He noted that employees pay on average, and as a percentage of their income, far more than him.The billionaire said that in 1992 the 400 richest U.S. taxpayers paid 29.2% of their income in federal taxes. But in 2008, their effective tax rate decreased to 21.5%, while in sixteen wealth is gone.

The two men do not speak yet not the same. The President wants to raise taxes for taxpayers earning more than $ 250,000 a year. Buffett, however, advocates the creation of new tax bands for income above one million dollars from all sources.The investor philanthropist also suggests an upper tax beyond $ 10 million, but fails to specify the desired level for these new units.

Impose more gains

Still, according to the Tax Policy Center, even 50% by taxing all income above one million, one that would release $ 48 billion in tax revenue over ten years, under very inadequate amount of resources to reduce the budget deficit. However, up to 15% to 20% maximum tax rate on capital gains as under Bill Clinton, would generate approximately $ 340 billion over ten years.

Warren Buffett's plea addressed especially to the twelve in fact members of Congress belonging to the commission that must by the end of November to $ 1.5 trillion proposed budget savings over ten years."It is vital that they manage to go beyond. Americans are rapidly losing their faith in the ability of Congress to address the fiscal problems of our country, "said Buffett, himself the son of an elected Republican Nebraska.

It is supported by another millionaire, Alan "Ace" Greenberg, former head of Bear Stearns: "To believe that, by raising taxes Warren Buffett or Bill Gates, they will begin to lay off staff is totally ridiculous … I'm not saying that tax increases should begin to 250,000 dollars in revenue. But they must start somewhere. At one million to two million, at least they should start, "says the bridge partner of the two richest people in the United States.

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Wall Street does succeed in chaining a fourth consecutive session? Nothing is less certain. Within two hours of opening, the futures contract on the Dow Jones was down 0.74% at 11,319 points, those on Nasdaq and the S & P 500 dropping 1.09% to 2182 points to 1.05% to 1185 points.

Nervousness investors won again a few hours of a meeting in Paris between German Chancellor Angela Merkel and French President Nicolas Sarkozy. The two leaders are to discuss ways to implement to improve governance in the euro area and contain the problems of sovereign debt. No decision is fundamental to expect from this meeting, warned a spokesman for Angela Merkel yesterday, let alone on the front of the Eurobonds claimed by many investors. The latter will not even up for discussion.And it is this fact which disappointed observers who expected progress on the subject. In Europe, markets are plunged into the red.

European growth disappoints

The bad mood is also expected to result from the publication of European indicators disappointing that send negative signals about the health of the euro area. Germany, European locomotive, reported a surprise slowdown and sharp growth in the second quarter. The entire euro area saw growth of 0.2% after increasing 0.8% in the first quarter.

United States, the agenda includes the release of housing starts, prices for import and export and especially of industrial production.This indicator is closely watched as markets worried about more and more sluggish growth of the world's largest economy.

Values ​​to follow

On the corporate side, Home Depot, Wal-Mart, Dell and Saks must publish their quarterly results on Tuesday.

Agilent Technologies has reported after-hours trading Monday a profit of $ 330 million, or 92 cents a share, in the third quarter, up 62% turnover is up to 1.69 billion.

Berkshire Hathaway would have taken a stake in the retailer Dollar General.

To attract customers, Fnac recycles old-fashioned recipes car dealerships. In recent days, the distributor of cultural products offers customers to resume high-tech products which they no longer use. Based on an Argus home, teaches against exchange vouchers valid in its 80 French stores.

This is a test, revealed by the challenges.fr site on which the subsidiary of PPR declined to give details. The service "Fnac Reprise" offers to purchase TVs, shelves, computers, phones, camcorders, music players and game consoles … But not books, CDs and DVDs, it is however possible to afford with the right of purchase.

The "cultural agitator," the owner would like to sell in order to afford sportswear brands, is trying by all means to correct its turnover, eroding month after month.His last idea could be successful, provided, however, offer an acquisition price attractive enough …

Nuclear power still has a bright future ahead. Yukiya Amano, head of the Agency for International Energy Agency (IAEA), is convinced. This is also in Japan, Fukushima, the scene of the worst nuclear catastrophe since Chernobyl, he recalled. "It is certain that the number of nuclear reactors will continue to rise, although the pace will not be as fast as before," he said.

After the catastrophe of Fukushima, Germany and several European countries, including Italy, Austria, Belgium or Switzerland, opened a debate on whether to continue or not to develop nuclear power, some of them have even set dates for the cessation of construction of new plants. But across the world, the challenge of nuclear power is not dominant.According Yukiya Amano in fact, "many others think they need nuclear power reactors, including the fight against the emission of greenhouse gases and global warming." Remarks which echo those of the French Minister of Economy, Eric Besson, who said in late May that "our world can not do without nuclear energy in the XXI century". And list: "Barack Obama has reaffirmed that there will be no suspension of nuclear power in the United States. China and India are launching major programs to meet their energy needs. And Europe, Great Britain, the Czech Republic and Bulgaria are continuing their efforts. "

Banking on security

If the development of this energy must continue, it will not happen without conditions, however, said Yukiya Amano."It is important above all to ensure the safety of nuclear facilities," he insists.

In Japan, nearly 36 of the 54 reactors that account Archipelago are currently halted because of the destruction caused by natural disasters or because they have not been reactivated after a routine maintenance, as a precaution. Favor a gradual reduction of nuclear, Prime Minister Naoto Kan has imposed tests of resistance to natural disasters and other risks before any recovery paydayloans. "I think it is wise that the country satisfies the safety of its nuclear plants after the accident at Fukushima Daiichi," acknowledged Yukiya Amano.

In Fukushima, "the prospects are good"

The head of the IAEA, wearing protective clothing against radiation, had also made Monday at the site of Fukushima for the first time since March 11, the day the plant was heavily damaged by the earthquake and tsunami. "Looking at the site, work is progressing in a very regular basis," he was glad. "So many people work with passion that I feel that the prospects are good," he added.

The Japanese authorities said last week be on track to regain control of the plant heavily damaged. However, they warned that full remediation of the site would take more than a decade. The operator of the plant rugged, Tokyo Electric Power (TEPCO), already expects to achieve cool the reactors and fuel to keep the temperature below 100 degrees Celsius by January."I told the Prime Minister that the IAEA can help Japan because we have the knowledge and experience required for decontamination and management of nuclear fuel melted or worn out," said the head of the agency.

Last June, the IAEA has criticized Japan's reaction after the accident, especially not for having implemented the agreement to give assistance provided by the agency in case of nuclear accident. It provides for cooperation between States and the IAEA to organize aid, safety and communication as appropriate.

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The higher the debt crisis is intensifying and European gold is getting stronger. The metal price has risen late Thursday at a new record of 1594.45 dollars approaching the threshold of 1600 dollars per ounce, still supported by concerns about the debt crisis in the euro zone and the renewed nervousness around indebtedness of the United States. The metal is "overbought in a configuration that is generally followed by a phase correction with profit taking," said Alexandre Taurand, market analyst at XTB France.

Since early July, the Yellow Gold has gained nearly 60 dollars and grew by more than 2% in five days. A craze that is also explained by its role as a refuge for investors wishing to protect themselves against currency volatility, turbulence government bonds and inflation pressures persist.Since the beginning of the month, the disturbing news in the euro area accumulates. Standard & Poor's warned that a draft agreement between Greece and private creditors would be equivalent to a default under its criteria. On Tuesday, the working group to find a solution to save the country from bankruptcy said he did not exclude a more "partial failure" Greek. Moody's lowered the rating of Portugal and the eyes are now to Italy and Spain where the rates of bonds soaring.

Investors are not convinced by the ads of European finance ministers that provide control to prevent contagion. The latter said they were willing to increase the size of the Fund for financial help payday advance. They are also considering a "lengthening of maturities of loans" made to give more time to countries in difficulty to repay their debt. But nothing works.Tuesday again, plummeting stock markets in Europe reflected a continuing concern.

All eyes turned to Italy

"Unlike money, which is currently trading on the area of ​​35.50 dollars an ounce and is a turning point towards lower, gold is playing its role as a refuge and is one of few underlying advantage of the situation, "says Alexandre Taurand.

In his view, two scenarios are emerging now for the precious metal, "If the price settles above the area of ​​1547.11 dollars, then maybe we would pause in the middle before a new upward impulse to try re-cross the area of ​​1557 dollars per ounce. In the event that the price of gold were to fall below the 1545 dollars, then we would have a target level of support for 1541 dollars, "said he.But can not decide yet, "there are a lot of uncertainty. Investors are focused on the Italian austerity plan (on which Parliament must decide by by the summer break, ed.) They also monitor the situation in the United States with the vote on the debt ceiling to be held by 2 August. "

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Sudden brake on the French economy. The second quarter growth should be two times less than anticipated previously Banque de France (BDF), the institution announced Friday. It reduced its growth forecast to 0.2% for the period April to June, against 0.4% previously and 0.5% in its first estimate. The government expects growth of 2% over the year.

This revision severe downward is motivated by recent activity indicators published by the monetary institution. She recorded a decline in June industrial output (4 points to 99 points) and a slower growth in services (-1 points 99 points). The activity, however, should be stabilizing, according to forecasts from the BoF.

Reduced consumption

"The growth in the second quarter will be much less impressive than the first, reflecting the end of the phenomenon of stock recovery in business and the decline in consumer spending due to inflation and the decision of the premium the case, "said Mathilde Lemoine chief economist at HSBC France. It is also banking on 0.2% growth over the period.

These figures confirm the slowdown in recent months in France, after a very dynamic first quarter. The leading index of activity came out in late June PMI fell sharply, reaching a lowest level in eight months, to 55.4 points. "Industry as services are affected by a drop in new orders, which does not bode well for future growth," Analysis Ken Wattret, chief euro zone economist at BNP Paribas.

French exports did not spark either in recent months (0.9% from March to May), particularly because of slower sales in Asia. However, the French manufacturers seem to keep their spirits up. The INSEE index posted in June were up 3 points to 109 points. A level above its long-term average.

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As announced in Le Figaro, the agreement on supplementary pensions signed last spring is unfavorable to executives who have raised several children, so much so that the CFE-CGC, the union executive has decided to attack the text justice.

The agreement signed in March after lengthy negotiations in effect alters the rules of pension bonus if families "many." From 1 January next year, the increase will be only 10% whatever the number of children cared for by the frame from three. The rule still in force today is much more favorable since the pensions of executives can be increased by 8% to 24% depending on the number of children.

Cap

Adjusted parallel, the amount of increase is now capped at 1,000 euros per year. Emmanuel Grimaud consulting firm optimization retirement Maxims, asked on Europe 1 this morning, made the calculation of the shortfall.For an executive who has had four children and affects 2700 euros monthly pension, the bonus is 2000 euros per year today. With the new rules, it does affect more than 800 euro mark, that is to say 1200 euros less each year. If we relate this loss to the number of years spent in retirement, 25 years on average, the loss of purchasing power reached 27,000 euros says the expert.

Emmanuel Grimaud said that once, future retired executives must make it their calculations, especially if born before July 1951.In some cases it may be more interesting for them to liquidate their retirement before the end of the year rather than waiting for the entry into force of the new text, and this even if they have not paid all quarters necessary for the full rate.

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