News Line

Wall Street ends up, confident on Europe

October 27, 2011

Confidence returns to Wall Street on Wednesday. After closing in the red yesterday, the Dow finished Wednesday up 1.39% to 11,869.04 points. The Nasdaq advance of 0.46% to 2650.67 points and the S & P is 1.05% to 1242 points.

Once again, U.S. investors had their eyes on the Old Continent, where an EU summit was to deliver a plan to end the debt crisis in the eurozone. With four objectives: helping Greece to boost the capacity of the EFSF, recapitalize banks and improve governance. Among the items already announced: the strengthening of the EFSF, the strike force is multiplied by four, an agreement on the recapitalization of European banks and probable assistance of emerging countries, notably China.

This battery is able to prevent contagion of the crisis, while fears now focus on Italy.The country also undertakes to submit a growth plan by 15 November in the letter that the prime minister Silvio Berlusconi to present Wednesday night in Brussels, said the agency Ansa.

Sales of new homes leave

On the macroeconomic front, orders for durable goods in the U.S. fell 0.8% in September, slightly less than what the market expected (-0.9%), according to figures released Wednesday by the Department of Commerce. Sales of new homes, have them, jumped 5.7% in September, the fastest pace in five months, but prices still down report that the housing market is still far from recovery.

As for commodities, oil prices have come down sharply on Wednesday in New York, under the blow of an unexpected rise in U payday loan.S. crude oil inventories. They rose 4.74 million barrels to 337.63 million.Economists on average had expected an increase of 1.3 million barrels. The barrel of "light sweet crude" for December delivery dropped 2.97 dollars to 90.20 dollars on the New York Mercantile Exchange, after gaining nearly six dollars on the first two sessions of the week.

Amazon severely punished

• Amazon (-12.66% to 198.40 dollars): the world leader in Internet sales announced Tuesday a net profit of $ 63 million for the third quarter, against $ 231 million (51 cents per share) a year earlier.

• Lockheed Martin (-3.19% to 76.37 dollars) saw its profit grow 25% in the third quarter to $ 700 million.The group also raised its targets for 2011.

• Ford (-4.55% to 11.87 dollars): The U.S. automaker Ford has released Wednesday 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 (4.47% to 66.57 dollars) issued on Wednesday a net profit up 31% to $ 1.1 billion for the third quarter, exceeding expectations, but it has revised down its forecast commercial deliveries for the year.

• ConocoPhillips (1.78% to 71.94 dollars) has reported a net profit of $ 2.62 billion in the third quarter, down 14% year on year.Turnover was up 33% to 62.78 billion USD.

Anne Sinclair would be back in the media

October 25, 2011

Anne Sinclair could return to work and media. According Rue89, the former presenter of "7 on 7" would be approached to become the patron saint of the French version of the Huffington Post. The new site, launched in partnership with the World, scheduled to open around 15 November. The wife of Dominique Strauss-Kahn did not assume the role of editor, but should take the lead. This appointment, however, has not been confirmed by the Huffington Post or the group the World.

The full team of the French version of the Huffington Post should be presented soon. Arianna Huffington, founder of the site and managing editor of AOL-Huffington Post media group, said on October 10 in the columns of the World want to "start small, with a team of eight people. We will increase the size when the site becomes profitable. "The editor like the rest of the team were now being recruited. The host of M6, Marc-Olivier Fogiel, was closely associated with the project.

The Huffington Post hopes to capitalize on the French hearing Post.fr, collaborative website of the World in financial difficulties. Result of an agreement between Le Monde, AOL Huffington Post Media Group and the New Independent Publishing, the holding company of Matthew Pigasse, the site work well in full for the presidential election. The popularity of Anne Sinclair, remained intact despite the affair that has reduced her husband could help boost future audience of the site.

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108 billion euros to get to bail out banks

October 24, 2011

The latest news from Brussels, European banks will increase their share capital of 108 billion euros by the end of June 2012. In any case, the figure What spoke Saturday afternoon, the ministers of finance, based on the work of the European Banking Authority, Constable sector across the EU. This figure will be confirmed, however, probably Wednesday, knowing that it is a milestone in the "global solution" to the crisis in which the Heads of State Floor Sunday, before ending up in two days.

The $ 108 billion euro responds to both a technical and more political trade-offs. Technically, the European Banking Authority (EBA) has made his calculations on the assumption that banks will have eight months to meet the essential requirements of the new regulations – "Basel 3" – which formally enter into force that in 2019.Objective: that all institutions show a capital ratio of at least 9% of their assets. Specifically, compared to its previous simulations, EBA is considered as the most robust to estimate the amount of capital now available to banks and was more rigorous assessment of their risks, especially those of market activities, and above all, she valued at close to their market price sovereign debt they hold.

No details have yet been given official in this regard, but the write-offs adopted by the EBA would range from 8% for Italian bonds and 60% for Greek securities, to Ireland, Portugal and Spain .In contrast, gains were recorded in German and British debts, for example, who have for the time of the "flight to quality" that characterizes the movements of the market since early August. Which "limit the damage" on the final bill, particularly in relation to IMF estimates, which amounted to 200 billion euros needs area banks.

Restoring confidence

In fact, anything and everything has been said – by the EBA, the IMF, the various States or analysts – the "hole" facing the industry in Europe. Therefore difficult to separate numbers. Most, however, they will give confidence, and for this area of ​​the 100 billion seems appropriate. The goal is indeed to remove the doubts of the market about the ability of banks to the shock of the crisis. Take into account the devaluation of the debts of European countries in this regard was indispensable.But the operation "truth" of banks should not create new concerns about the ability of Europe to bail them out.

The general rule is certainly that financial institutions are themselves the solutions by reducing their balance sheet, affecting more profits to strengthen their capital rather than dividends or raising new money market or from large investors. But if these remedies do not pay the entire bill (in France, they should suffice), states, and ultimately the EFSF, will take over. This requires that the effort required to banks or to the extent of the means that Europe is ready to release for them.

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Reduce taxes, it is still possible

October 22, 2011

The tax. It scares some, who left France for tax heavens warmer (Switzerland in the lead). It works the other. The French tax system is so dense that the understanding, and around, held for hours and other estate planning tax, paid to find clever editing which will reduce the tax bill their customers.

The tax is also debate. Political issue, it will be based on the outcome of presidential elections next year. But whatever the future tenant of the Elysee, the necessary fiscal consolidation will make more bitter potion tax in France and elsewhere. This fall, several large employers, Maurice Levy (Publicis) to head, seized of the matter, declaring themselves willing to pay more, in the wake of U.S. financial guru Warren Buffet.Went to war for the tax to China with Bill Gates, the investors have called "the sage of Omaha" and admits that pay less tax proportionately than his secretary did not meet with success expected in the Middle Kingdom.

Tax loopholes less generous

In some banks, asset management, however, we feel that the climate is changing. Faced with the country's debt, attitudes are changing. "Taxes will go up, most of our customers are aware of, said Philippe Vayssettes, the president of the bank Neuflize OBC. The crisis has raised awareness to wealthy clients need to solve the problem of public finances, and his reactions to the tax increases are less epidermal few years ago.Many say they would pay more taxes, but only if the load is evenly distributed and that addresses the spending. "

France, in recent years sought to rebalance the tax burden on labor and the heritage. And tax loopholes were made less generous. Yet the French are addicted to the means to reduce their taxes. "Everyone is struggling to pay less tax, but push the system too far is destructive of social cohesion," says Mathilde Lemoine, director of economic research and market strategy of HSBC France. Investors rushed last year on investment in rental real estate law Scellier, which allowed them (for investments made in 2010) to obtain a tax reduction equal to 25% of their implementation, a limit of 300,000 euros.This year, the percentage of tax reduction increased to 22% for purchases in buildings BBC (low power) and uncertainty hovered for months about the future of the device. Result, the French have been slow to invest. The ax has fallen at the presentation of the Finance Act 2012: tax reduction Scellier expected to increase to 18% next year. Individuals tempted by a real estate transaction in the nine have a vested interest to act quickly if they want the rate of 22%, although an amendment could, if adopted, to take into account the sales agreement and not just the final act signed before the end of the year.Better yet avoid precipitation because tax savings does not always mean good business.

Before embarking on an operation of tax exemption must make an effort not to be blinded by the tax sirens and see the economic benefit of investment no faxing payday loans. And its output. With these precautions taken, why not kill two birds with one stone? Build wealth, comfort and reduce the income tax it will pay next year. For this, we need to invest before the end of the year. The tax paid in 2012 will focus on the income received this year. So it also charges, expenses and investments made in 2011 that will reduce the tax liability next year.

Individuals familiar with the outline of the 2012 budget, a few caveats about. We must also wait for the vote of the National Assembly and Senate to get the specific details of the measurements.On some points, arrangements are already being considered. The slowdown in growth means fewer tax revenues, will require to find recipes. The tax may be more severe in the coming years and levers to reduce fewer. One more reason to enjoy the levers that exist today.

Avoid the pitfalls of tax exemption

But the string of investments and existing mechanisms, it is often difficult to find your way. The folder you now offers Le Figaro Magazine, with the teams of the Particular (group Figaro), is designed to help you reduce the tax burden without falling into the pitfalls of tax exemption.So we sifted through real estate investments, financial products, including FIP, the FCIC and Sofica and investment overseas and work to achieve in its housing, which can afford to pay less tax next year, whether the income tax or, in some cases (direct investment in SMEs, gifts, etc..), the ISF. And to reduce taxation intelligently, we give you other ways to reduce the tax burden, such as investing in the forest or going into debt. Have a ball. –

Limit spending to curb the increase in taxes

We too often forget: you pay taxes to finance public spending. One way to limit the tax increase is to reduce them. It will do so, and ask what the costs really useful, "said Mathilde Lemoine.In a report last July, the Economic Analysis Council considers necessary and tax reform advocates an overhaul of the system of tax loopholes. To restore confidence in the fairness of our tax system, he advises to "better link the tax to ability to pay."But he warned: "To encourage investment guess you do not make the mistake in the name of the simplification of our tax system, a confiscatory taxation of capital income." Fiscal policy is a delicate, because ultimately, too many taxes kill taxes.

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4 – Focus on non-listed companies with the FIP and FCPI

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Scholarships Asian net fallback

October 20, 2011

The debt crisis would weigh on the Paris Stock Exchange

October 19, 2011

In the wake of the Asian stock markets and Wall Street on Monday, the CAC 40 down is expected on Monday after Moody's has cast a shadow on the "AAA" rating of the Hexagon. The rating agency is now planning to revise its position on the "stable" outlook for the rating "over the next three months, Moody's will monitor and evaluate this perspective in the light of progress made by the government to implement the announced measures to reduce the budget deficit, "she says in a statement.

The day before, the CAC 40 sold 1.61% below 3200 points, after about German leaders who are very cautious about a future resolution of the crisis in Europe. The German Minister of Economics Wolfgang Schäuble has indeed warned that the EU summit to be held in Brussels Sunday will not lead to a definitive solution to the debt crisis.And, while the central bankers of the euro zone had promised a response "comprehensive and lasting peace" to the crisis at the G20 finance this weekend in Paris.

Fears of a slowdown in Beijing this must be added the fear of a slowing Chinese economy, which appears in 9.1% in the third quarter, against 9.7% and 9.5 % in the first and second quarter. "Economic growth is currently facing a more complicated on both external and internal plans," said the spokesman for the National Bureau of Statistics (NBS), Sheng Laiyun commenting on the growth of China. In fact, Chinese exporters are beginning to suffer from particular sovereign debt crisis in Europe, their largest market, a difficult economic situation in the United States.The Chinese economy is also impacted by rising wages and strong yuan, has appreciated by 7% in a year against the dollar. "The number of factors of instability and uncertainty increases," says Sheng Laiyun.

On the front of currencies, the euro rose 0.28% to 1.377 dollars on Tuesday. Oil is meanwhile down in Asia after the confirmation of a slowdown in Chinese growth in the third quarter against a backdrop of skepticism about a speedy resolution of sovereign debt crisis in the euro area.The barrel of "light sweet crude" for delivery in November, up in the early electronic trading, lost 9 cents to 86 low fee cash advance.29 dollars, around 6:00.

On the macroeconomic front, Germany, the barometer of confidence in financial circles ZEW is expected in 11 hours.

In Britain publish inflation for the month of September will also punliée.

Spain should in turn issue Treasury Bills 12-18 months, and publish the figures for bad debts of its banks for the month of August.

Values ​​to follow on Tuesday:

• Danone

Group sales in the third quarter were in line with analysts' expectations, and with forecasts recently outlined by the Group CEO, Franck Riboud.Sales for the period to 4805 and spring million, an increase over one year of 10.5% as reported and 5.9% excluding currency effects and changes in structure. The group confirms its 2011 and said he was "confident" in 2012.

• Air France-KLM

The company announced Monday the resignation of its CEO Pierre-Henri Gourgeon, President Jean-Cyril Spinetta regaining his seat as CEO of the Franco-Dutch until the establishment of a real Air France-KLM holding company, postponed current 2013 instead of early 2012.

• L'Oréal

With the guardianship of Liliane Bettencourt, the transfer of power between the L'Oreal heiress and her daughter opened a new era may change the balance of governance of the group as its ties to Nestlé.

• Edenred

The group announced a growth of 11.3% of sales in the third quarter thanks to a very strong activity in Latin America, enabling it to confirm its annual targets.

• LVMH

The group reported organic growth of 15% to 16.30 billion euros in sales in the third quarter, as the first nine months of the year. He felt that his performance since the beginning of the year confirms its confidence for 2011.

• Aéroports de Paris

The company will present the latest figures for passenger traffic.

• Accor

The hotel group will present its turnover in the third quarter after market close.

• NextRadioTV

The group presents its revenues in the third quarter.

Fred and Farid: "Some are CV pinball"

October 17, 2011

Fred and Farid: CV are some pinball by Cadremploi

Fred and Farid are a pleasure to see. Proud owners of brand new premises in the ninth arrondissement of Paris, the duo is pleased advertising. Happy with his jokes, the generation of Digital Natives on which he intends to bury the lines of how pubar Séguéla.

At 40 years old, Fred and Farid are out of the woods: 200 employees, 40 marks, trophies crowning international campaigns lined up in the office they share. For those two did not leave.Like all of their employees is in open space, they share the same desk, in the same office.

Unshaven, a bit thugs around the edges, they like to do the evil spirit on the back of their sister Mercedes Erra, aimed valves, practice self-mockery and derision, claiming an instinctive diversity in the composition of workforce the agency and distrust of the original CV too low fee payday loans.

Fred & Farid met at the end of the previous century and could not framed in the beginning. The video shows them at home, the fact of advertising fame, the happy path. It robbed in the lobby of the new building, which they own, they have plastered their motto: "If one day you give up, we cut the head."Another way of saying that despite the years, it all starts today.

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The tribute (well) used to Steve Jobs

October 15, 2011

One last vein to exploit or a form of homage to the original that was charismatic CEO Steve Jobs? Since his death a week ago, a piece of clothing is indeed particularly sought: the black turtleneck sweater or "black turtleneck." In the 1980s, co-founder of Apple, in fact adopts a dress code that includes the famous sweater, jeans Levi's 501et New Balance sneakers. This set will become the uniform of Steve Jobs.

While U.S. sites already rustle costume ideas "Steve Jobs" to celebrate Halloween at the end of the month, fans use the black sweater to make a new homage to their icon. Over a thousand people were thus included in the "Black Turtleneck Friday."Organized on Facebook, the event encouraged to wear during the day Friday, 14 October 1 black turtleneck sweater in the style of Steve Jobs.

St Croix sweaters out of stock

A registered acclaimed by Steve Jobs did not hesitate to use the windfall: St Croix Collections site TMZ said that sales of his black turtleneck sweaters have "increased by almost 100%" the day after death the co-founder of Apple. According to the leader of Knitcraft, parent company of St. Croix, quoted by the Washington Post, Steve Jobs bought two dozen of these sweaters every year. Today, a victim of its success, the article, which is worth 175 dollars, even out of stock depending on the brand, which states that it accepts commands. The site of St Croix has pushed its home page for the occasion: a tribute to the co-founder of Apple, the brand announced that it pays 20 dollars to the fight against cancer for each sweater purchased.And states that it is even considering erecting a memorial to the former head of the Apple brand.

Steve Jobs was, however, another favorite brand, remained more discreet: Issey Miyake. This is indeed the creator of Japan that the CEO was asked to create a uniform for employees of Apple. In an official biography to be published at the end of the month, Steve Jobs tells that the idea came to him by visiting the Sony factory in Japan. Seduced by this unique garment that bound them employees of the firm, made to the American one hundred black shirts at Issey Miyake. But conflicts with the unanimous rejection of his entourage when he arrives in the United States. Do not worry, Steve Jobs will then adopt for himself the uniform, simple but effective way to make a characteristic gait.Just reward: it is now the single items are presented on the front stalls.

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Carrefour further lowers its profit forecasts

October 14, 2011

Another bad news for Carrefour. For the fifth time this year, despite a slight increase of 0.3% of quarterly sales as reported at 22.8 billion euros (-0.6% on a comparable basis, excluding petrol), the distributor launches warning on its results. "In an environment of increasingly uncertain, we wanted to prudently adjust our estimate of operating income for 2011 and establish a range from -15% to -20%," says the CEO of Carrefour, Lars Olofsson said in a statement. In late August, the group was counting on a further decline of only 15%.

This new performance-cons is also explained by the deterioration in sales in its hypermarkets in France, which account for over half of the turnover of the group. They had their billing drop 4.4% on a comparable basis and excluding petrol.Sales of food hypermarkets fell 2.6% on a comparable and those of non-food products fell by 9.6%. The group explained that it was the "first impact of its action plan," including fewer promotions.

Supermarket sales were down 0.2%, only reaching convenience formats to take their game with an increase of 4.3%.

Wrong signals in China

Lars Olofsson believes in particular that the economic downturn affects the "discretionary" spending, that is to say non-food consumer. Over the same period, however, Casino succeeded in limiting the decline in sales of its hypermarkets to 1.2%.These justifications therefore disappoint analysts: "We believe now that there is a risk to our forecast 2012 to be undermined," explain and those of RBS, still evoke a "low profile" and say to anticipate a decline of 17 % of 2011 operating income for the group.

The outlook is more pessimistic than the other markets of the distributor are also showing signs of slowing. In Western Europe, the trend remained negative with a decrease of 2.2% on a comparable basis. Most significant, China saw its sales fall by 2.1%. Carrefour said the downturn by "increasing pressure on consumption which impacts particularly on non-food sales." Only Latin America stays the course with revenues up 7.4% on a comparable basis.

At the Paris Bourse, the title of Carrefour unscrews 3.41% to 17.30 euros in a market up 0.31% to 9.30.

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What could bring the sale of the OM

October 12, 2011

Is it a simple warning or an open door to welcome other investors? By stating in an interview Saturday in the World that she was "free to sell (the club) tomorrow," the majority shareholder of Olympique Marseille (OM), Margarita Louis-Dreyfus (MLD), dropped a bomb. Although OM has a habit of his positions when the results are not sports go, this procedure is perhaps not so benign than previous ones. "Margarita Louis-Dreyfus is not passionate about the OM as her late husband (Robert Louis-Dreyfus, Ed), says Vincent Chaudel, expert sport at Kurt Salmon. His fortune is not as important as that of Robert Louis-Dreyfus. And the prospect of having to inject new funds next year if the club does not qualify for the Champions League is not to please him. ""When a shareholder begins to inject money each year in a club, it is trapped and has no other choice but to continue to do so," said Luc Dayan, former leader of the football club Lille who has worked on the sale of PSG. This is not the intention of Margarita Louis-Dreyfus, whose fortune is estimated at 300 million euros.

In twelve years (1996-2008), Robert Louis-Deyfus, died in 2009 as a result of leukemia, at the head of a fortune estimated at more than 1 billion euros, had invested 200 million euros and the club has gleaned any major title. To prevent bursting of its heritage, Robert Louis Dreyfus before his death had created a foundation, in which were housed the 55% stake of the Louis-Dreyfus specializes in trading (shipping, energy, real estate …).The foundation distributes dividends to his wife and his three children and the prohibition to sell its shares for 99 years.

The position of MLD is "sound and consistent"

According to Le Parisien, the majority shareholder of the OM would be willing to accept a check for 120 million euros to give the club more than twice the amount spent by Qatari investors to redeem the PSG to Colony Capital payday advance lenders. However, the market value of the number of Didier Deschamps is estimated at about 149 million euros by the German reference site Transfermarkt. In comparison, the PSG reaches 190 million and that of the OL is around 157 million. "The intervention of Margarita Louis-Dreyfus is sound and consistent with the economic situation of the club and with the requirements of UEFA on the financial balance of the teams, said Didier Primault, an economist at the Center for Law and Economics of Sport .If leaders want to keep it OM, they must adapt their strategy to the financial resources allocated to them. They should be aware that in the medium term, they can not compete with the big European clubs. "

Manage the assets of his children

For Vincent Chaudel, given the strategy of the main shareholder of the OM, selling more than a dry club, the solution is rather a gradual opening of the capital. "Margarita Louis-Dreyfus is a view of wealth management of his children, he says. She has no interest in rushing. " If the majority shareholder of the OM does not drag on to Marseille, it will be no less attentive to the profile of the potential buyer. The club has in fact not forgotten the episode "Kachkar," the name of this Canadian investor who in 2007 announced plans to buy the club for 115 million euros and which ultimately proved to be a scammer.

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