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Champagne to celebrate the good interim results of Pernod Ricard! During the first half of its fiscal year lagged 2010-2011, "the activity is very dynamic in emerging markets and enjoys a gradual recovery in North America and an improvement in Western Europe," says in a statement.

Net income for the period from 1 July to 31 December 2010 amounted to 666 million euros, up 10% over the same period last year.

The turnover of the first half amounted to 4.28 billion euros, up 13%.These are mainly sales of strategic brands of spirits and champagne, which represent 59% of group turnover, which increased the most last year (+8% in volume and +13% in value).

Geographically, Asia and the rest of the world jumped 29%, America 15% Europe 2%, after falling 5% in 2009-2010.

Reduced debt and continued investment

Net debt was reduced from 864 million euros due mainly to a strong generation of cash flow (639 million).

These positive results supporting the group, speaking through its director general, Pierre Pringuet, announced it is revising upwards its guidance for organic growth to a level close to 7% in fiscal 2010/2011, cons " close to 6% "until then.

"We will continue our policy of continued investment in brands and key markets," says Director General of Pernod Ricard.

The U.S. stock market opened slightly lower Tuesday after Monday's meeting Temin virtually in equilibrium. The Standard & Poor's 500 and Nasdaq 100 down 0.33% at 1327.87 respectively points and 0.26% at 2809.97 points. For its part, the Dow Jones fell back from 0.31% to 12,230 points.

On the macroeconomic front, the United States, the publication of indicators have been mixed disappointed traders. In January, import prices surged due to a further rise in energy costs. They rose 1.5%, almost almost twice the consensus forecast (0.8%).

Furthermore, the Empire State index measuring industrial activity in New York came out slightly below expectations, despite a faster rise in February.He climbed to 15.4 against 11.9 in January, its highest level since June, but 1inférieur the 15.5 expected by analysts.

For their part, retail sales began the year without much enthusiasm after the sharp increase in fourth quarter 2010. The 0.3% increase recorded between January and February is the lowest in seven months, and well below the 0.5% expected by analysts.

The United States has also attracted less net capital flows to long-term in December: 65.9 billion, after 85.1 billion in November.

The side of values, the earnings season coming to an end.The figure, however, operators monitor Dell on Tuesday after market close, those of CBS, Qwest Communications or Analog Devices, tomorrow and the annual results for CBS, Comcast and Nvidia on Thursday, and finally those of Campbell Friday.

On the foreign exchange market, the euro was still up against the dollar on Tuesday, buoyed by the German figures reassuring despite persistent pressure from concerns about the fiscal health of fragile area euro.Vers 15:00 to Paris, the euro bought 1.3535 dollars against 1.3486 dollars on Monday to the closure, after falling in the day from Monday to 1.3428 dollars, the lowest since three weeks.

Marriott will split into two listed companies

Marriott International, 3.85%, to 42.58 dollars

On Wall Street, the hotel company announced after market close Monday its intention to split into two publicly traded company, with one side of the other hotels and timeshare operations poor credit personal loans. The new entity specializing in timeshare brands will use the Marriott and Ritz-Carlton, while Marriott International will focus on the activities of hotel accommodation, including franchisees. In 2010, the timeshare industry has posted a turnover of 1.5 billion made on 71 sites with over 400,000 multi-owner and approximately 10,000 employees. After paying a special dividend, the Marriott family should hold 21% stake in each of the two companies split.The group also reported a quarterly profit increase, the economic recovery accompanied by an increase in business travel. Net income for the fourth quarter was $ 173 million or 46 cents per share, against 106 million or 28 cents per share, a year earlier.

Fedex: 2.46%, to 96.30 dollars

Also after market, the group messageriea lowered its targets for the current quarter The group now expects earnings per share and 90 cents entre70, fork down 25 cents.The group says that performance-cons by harsh climatic conditions and rising fuel prices explain this.

Chevron: -0.57%, to 96.40 dollars

Always on the side of values, The Chevron oil company has been fined eight billion dollars for the pollution caused by Texaco, a company he bought in an Amazonian province of Ecuador, a decision against which he has promised to appeal.

NYSE Euronext: -6.21% to $ 37

Also note, while boards of directors of the exchange group NYSE Euronext and Deutsche Börse in talks for a merger, may announce an agreement soon on Tuesday, the press reported a possible offer by the Chicago Mercantile cons Exchange (CME), the world trade in raw materials.

Genzyme: + 0.73%, to 72.29 dollars

The series Sanofi Aventis / Genzyme continues.A merger agreement between the French laboratory and the American biotechnology should be signed shortly. Sanofi, however, should extend its offer a third time on Genzyme and continue along its negotiation. The expiry of the offer is midnight New York time on Tuesday or Wednesday 6:00 pm Paris time. In Paris, the title of Sanofi-Aventis rose slightly from 0.13% to 49.99 euros

The International Monetary Fund (IMF) is considering measures to regulate international capital flows, without deciding in favor of a "code of conduct" as proposed by Nicolas Sarkozy, in charge of the Presidency of the G20.

"We see really a case-by-case basis to determine what steps countries should take," said yesterday, Thursday, the Director of External Relations of the Fund, Caroline Atkinson. IMF confirms having received from the French president, who has made the framework for capital flows a priority of the G20 proposals for a firm line from the States, but said his conduct own thinking in parallel.

Tuesday in Singapore, Dominique Strauss Khan had recognized the need for capital control measures for countries that receive "destabilizing flows and short-term" capital payday loans."In this case, it is our opinion, even if it's fairly new to the IMF, capital controls may be provisional in place." But he stressed the need for these measures, would be to keep capital within the borders, are "temporary", thereby guard against any financial protectionism.

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Prices of existing homes in Paris and in historic areas of major French cities are expected to grow by over 10% in 2011 compared with 2010, according to the note of real estate market trends released Wednesday by the Notaries of France.

"The market in central Paris and the historic districts of large cities a province, like Lyon, Nantes, Bordeaux and Montpellier, evolve beyond 10%," write the solicitors in this study "An early 2011 dynamic but then what? ". For these scholars, the sharp rise in prices should also continue in 2011 in the small and large crown in Paris but "but with a change of less than 10% over the year."

Fewer transactions in 2011

In the rest of the province, the increase will be more moderate in 2010, ranging between 3% and 5% are forecasting notaries.According to the National Federation of Real Estate (Fnaim estate agents), prices of existing homes in France are expected to rise 3% to 6% this year after increasing last year's average of 1.5% for all land and a record 15.7% in Paris. In 2010, the real estate market has regained its former volumes of the years between 2000 and 2007, from 590,000 sales in 2009 to nearly 800,000, "real estate investment appears more secure than investment in the financial market" , welcome notaries.

However the number of sales in the former is expected to reach in 2011 a sales volume of less than 2010, they say.Indeed, the tax reform proposed by the government "may cause short-term positions and erratic behavior among some owners vendors, with temporary reduction of risk placed on the market and price pressures."

Among the tracks thrown in as part of the reform of taxation on property, the head of state spoke in mid-January the idea of taxing capital gains realized on the sale of a principal residence, up by tax-free. Rising prices continued early in the first quarter of 2011. Based on preliminary contracts (sale agreement), notaries confirm the estimate of their colleagues in Paris at the end of last year, indicating that the average price of apartments in Paris in the first quarter will exceed the 8,000 euros / m2.In the provinces, mainland prices also rise, particularly in Bordeaux and Rennes (+15% yoy), in Nantes and Lyon (5 to 10%), while Lille and Toulouse know in the first quarter of price stable (0-5%).

(With AFP)

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The situation becomes more blurred in Egypt and a barrel of oil rises. On the only day on Friday, the price of a barrel of light sweet crude for March delivery gained 4.32% to 89.34 dollars in New York as they leapt from 2% in London, pushing Brent a hair of $ 100 (99.74 dollars). A threshold has been crossed over from 1 October 2008.

On Monday, the rise continues. In morning trading in Asia, the "light sweet crude gained 37 cents to 89.71 dollars and that of Brent North Sea has appreciated by 18 cents to 99.60 dollars.

The Suez Canal in the heart of the concerns

This rise of prices, after several sessions swales, reflects the fear of the markets to see the routing of oil through the Suez Canal impacted by the events.Since the early disruption, port operations are slow and some employees can no longer reach their workplace. In addition, ships can no longer find in the port of Suez capable of military escorts to protect them while crossing the Gulf of Aden, whose waters are crisscrossed by hackers.

"No ship has been delayed for two days but no responsibility for immigration and customs has come to give permissions for security teams to shipments, said a coordinator of a freight company Suez. Crew changes have also been disrupted and some supplies, like food and water, are no longer transported to the port, "he added.

Nervousness

The situation is even more problematic that about one million barrels per day pass through the Suez Canal.In 2009, the latest data available, more than 34,000 vessels passed through the canal, including nearly 2,700 tankers carrying approximately 29 million tons of crude fast cash advance loan. "There is some nervousness about supply and this could affect Europe more than the U.S.," said Tom Bentz of BNP Paribas.

Now, ships calling at ports in neighboring countries like Turkey or the UAE for their supplies. "If the shipping lanes closed, it will be a detour of 6,000 miles (almost 10,000 kilometers) in order to ensure deliveries," warns Rich Ilczyszyn, Lind-Waldock.

Also concerned about the situation, OPEC said that a "shortage" of oil is possible. The secretary general of the organization, Abdullah El-Badri said, however, that OPEC stands ready to increase production if necessary.

"A blip"

Some observers, however, take the situation into perspective. "Investors are speculating on the situation of the channel but it has very little chance of getting stuck in the light of financial challenges it poses to Egypt," said Djillali Hacid, technical analyst at XTB France. Remarks confirmed by the Egyptian official media said on Monday that the Suez Canal works "full capacity".

"For now, the impact of Egypt on the course is not so huge. This is just an excuse for investors to speed up that takes place from August but stumbled on the psychological threshold of 100 dollars, "adds the analyst XTB.

Evolution of a barrel of Brent since February 2010. Source: XTB France

It's a duel to the barbed as only the French government knows offer. Pressed to move its headquarters to save money, the Department of Justice had set his sights on a building of 27,000 sq Porte de Versailles in Paris, including the purchase cost 232 million euros. To make the operation possible, the senior judges had prepared a decree Bercy ahead … of 232 million euros.

Was reckoning without the vigilance of the board of real estate of State and the Finance Committee of the National Assembly, who found this address too expensive. They did not hide their preference for a building door Bagnolet at cost plus a modest (160 million). To make their point of view, members and senators voted in mid-December a supplementary budget amendment setting a ceiling of 160 million for this acquisition.It was thought that officials would take willy-nilly the way of the Porte de Bagnolet. I was wrong about them. Driven by rage against this forced exile, they received this week a final adjudication of the Budget Minister, Baroin: the Ministry of Justice has a year to find another place. At what price? The judges explained already with property inflation will not be possible to comply with the envelope of 160 million.

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"The UMP moved to Paris in the fifteenth

The case takes us back to the 2000s, when Jean-Marie Messier (J2M) reigned supreme on the Vivendi Universal empire. The French court ruled on Friday about the fate of the businessman, spent two years at the helm of a group, Generale des Eaux, which he turned into a media giant, and led to almost bankruptcy in 2002. After eight years of investigation and trial bankruptcies on one of the hottest and most publicized in recent years in France, the court sentenced him to a term of three years suspended sentence for embezzlement in her in managing the media and communications group. For his part, Edgar Bronfman Jr., chief executive of Warner, was sentenced to fifteen months suspended sentence and five million euro fine for insider trading.

More charges weighed on J2M.The first is the "dissemination of false or misleading" about the financial health of Vivendi. In fact, Jean-Marie Messier, Vivendi Universal said that was perfectly healthy even though the group was awash in debt, nearly $ 20 billion in 2002. The former officer is also suspected "abuse of social good" in connection with a golden parachute negotiated $ 20.5 million, but not touched. Finally, he is alleged to have manipulated prices by buying securities in order to do so artificially.

Messier admits mistakes but no offense

The latter acknowledges having made mistakes, but no crime. The former boss, 54, concedes, the Wall Street Journal: "I was young, I've said too much and I became a symbol." Whatever the Horns of Canal + J6M nicknamed (for Jean Marie Messier, Myself Master of the World) even regretted his "arrogance" at the time.But beyond its mismanagement, Jean-Marie Messier also challenges a softer environment cheap credit report. He recalled that the bursting of the dotcom bubble and September 11 were particularly devastating for the values of the new economy traded.

He especially insists he did not deliberately sought to mislead analysts and shareholders. "Some of my decisions in the management proved wrong, but a fraud? Never, Never, never! "He says. And he points out the flaws in the file. The indictment for abuse of social good based on a negotiated golden parachute … but never touched. As for price manipulation, it acknowledges the massive purchase of Vivendi shares after the attacks of Sept. 11, but in order to protect the business speculators.

Relax expected

And his defense seems to have already convinced: the prosecution has demanded his release, he believes did not deliberately sought to mislead analysts and shareholders.

Already in January 2010 as part of a class action lawsuits (class action), a U.S. court did not accept the accusations of lies about the group's accounts. However Vivendi had been convicted. This time, Jean-Marie Messier in theory liable to five years imprisonment and heavy fines.

And small shareholders of Vivendi who cheated were the spearhead of the French criminal investigation, hoping to get their side of the damages and see recognized the responsibility of the former management team in the failure group.After eight years of waiting, the last hours might seem like an eternity!

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After two losses, the Detroit show this year symbolizes the victorious return of the Big Three, the Big Three U.S. automakers. In 2009, General Motors, Ford and Chrysler have been brought to its knees by the financial crisis, after years of abysmal losses. Two of them, GM and Chrysler, have gone through a bankruptcy and owe their salvation to the billions of dollars in aid the U.S. government.

This year, the mood should be much more festive in Detroit, as reasons to be optimistic are real. After collapsing in 2009 to its lowest level since 1983, the U.S. car market is again on the rise for the first time since 2005: 11.6 million cars were sold last year, a rebound 11%.In 2011, experts predict volumes between 12.5 and 13.5 million cars, far, however, nearly 17 million copies in 2005.

Factories closed, wages reduced

GM has made for his return to Wall Street, in November, the most spectacular IPO in history, raising more than $ 23 billion. Photo credits: David Zalubowski / ASSOCIATED PRESS

Millions of French in nature, detached from any commitment to their operators. This is the nightmare that stirred the telecom sector, used to recruit customers on long-term contracts: at the beginning of the year, over 80% of customers to a mobile phone package were still committed to the most More than a year. But with price changes that lie ahead for the new pass the VAT hike, subscribers whose bill will evolve will have the right to request termination of their free package, even if they are still engaged.

In practice, the situation is not so bad that for Internet and mobile operators, which are not totally unprepared. They added in their contracts, some as early as mid-November, a clause warning the next price increase.Several operators contacted by Lefigaro.fr argue that these lines are enough to keep all customers who have committed or recommitted during this period. So do not expect to buy a subsidized iPhone for 149 euros with a subscription for 24 months instead of 739 EUR without subscription and can cancel your plan in the wake at no charge.

A favorable schedule

To leave some margin, the telecom operators also benefit from a clever timing effect. Theoretically, they should have prevented customers from late November, a month before the entry into force of the VAT hike on January 1, decreed by the government. But they delayed the increase in their packages a month (and up to three months for Bouygues Telecom) and have started sending mails in the last days of December."We had to work hard, more than 30,000 prices have moved," said a spokesman for SFR.

This slight shift requires operators to handle the difference between the price paid by customers and they must refund taxes to the State in January. But he also benefits. December is indeed the month of the year when recruitment is strongest, thanks to Christmas shopping. However, customers who have subscribed or subscribed again in recent weeks have agreed to plans that will increase as the others, but can not be terminated. "Operators do not want to tarnish their image a little by announcing a price increase in this period," Edward J. Barreiro, director of studies at the UFC-Que Choisir.

To limit cancellations, traders have also used other maps.Unlike Telstra, Vodafone has chosen to only increase its prices on a third of its old rates, which represents for him a load of 50 million euros but blocks the possibility of termination for a majority of its subscriber base . The customer service is also currently showing a very generous incentive for subscribers to re-engage in two years, with significant discounts. The site reports on his side Numerama testimonials from customers of Orange who have difficulty in terminating their line while transferring their number to a competitor.

The risk of a windfall

Unlike the scenario envisaged by the Government, the telecoms sector did not engaged in a price war that would have been financially disastrous and would have encouraged him to change operator.In ADSL, all subscriptions will increase, including to Free, who preferred to break his pattern of "triple play" to 29.99 euros per month rather than taking only the VAT hike. In mobile, the most popular package for Orange and SFR, those on smartphones, will be impacted. Those of Bouygues Telecom to follow.

Ultimately, consumer groups fear that eventually the VAT hike turns into windfall, to get further increases. The prices of packages that should not be affected by the VAT hike (those not including television) will soon be weighed down for no apparent reason. Numericable and took advantage of this favorable period to tell its customers an increase in its rates an average of 3 euros, unrelated to VAT."Everyone wants to increase its rates, particularly to finance the optical fiber, a spokesman justified.

"The government must make sure that this measure does not allow slippage of prices or additional puncture on consumers unjustified", responded in a statement Wednesday the UFC-Que Choisir, who wants "a point on the deals that can legitimately be subject to a price increase. " In a letter, the Minister of the Digital Economy, Eric Besson, has asked for a few hours later providers of internet access information on how they intend to pass on the VAT hike their rates.

Areva said on Tuesday the completion of its capital increase reserved to Kuwait Investment Authority and the French State for a total of about 900 million euros and the launch of the issuance of preferred shares without voting rights for a total maximum of 38,311,992.91 euros.

The operation was delayed several times, Monday received the visa of the Autorité des marchés financiers (AMF). It values Areva to 11.5 billion euros on the basis of its own funds and a prelude to a stock exchange listing of shares of French nuclear specialist by the end of the first half of 2011.

In its statement issued Tuesday after the close, Areva recalls how validated last week in general meeting, and stated that the subscription period for shares without preferential voting will be open from 3 to 14 January 2011 inclusive.

Appointment in January

"During this period, the subscription rights will be listed and traded on the regulated market of NYSE Euronext peers," added the group paperless payday loans. The settlement and listing of the preference shares without voting news is expected next January 27.

The state, which now controls nearly 90% of Areva, had initially set a goal to complete a capital increase of up to 15% before the end of 2010 with industrial and financial investors, for a total estimated at between 1.5 billion and 3 billion euros. But he had to resolve itself to participate in the operation up to 300 million euros as part of a fundraising much more modest than expected, even if other operations could come and complete it later.

(With Reuters)

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