Business World |

Unheard of since the beginning of the crisis. This makes two months in July as the number of jobseekers registered in category A to decrease employment center. "One more and it will become a reliable trend," enthuses Laurent Wauquiez, the Secretary of State for Employment. The largest decline even since February 2008: 0.5%, or 14,400 fewer people unemployed in July after an initial outflow of 8600 in June "This proves we were right not to give up and focus on an active policy of employment," said Laurent Wauquiez. We must remain vigilant because the coming months will not all be as good. "

Another encouraging sign is the rising number of unemployed in class ABC (including applicants for employment who have worked more or less than 78 hours) slowed sharply in July. It was only 0.1% (5300 persons) in July, five to nine times lower than previous months.For Laurent Wauquiez, it is not just a transfer grade (from A to B and C) meaning that more and more unemployed people returning to work part time. "It is also linked to the resumption of temporary employment and job creation in the first half of IDUs," he justified. There are now between 2.69 and 4.21 million unemployed in France, according to the category selected.

The data for July also confirm the trend reversal on youth unemployment. The number of under 25 who are enrolled in July fell 2.8% in category A, on the ebb to 1.8% in one year. An exploit in crisis even if there is an increase of a level similar to category ABC showing that more and more young people carry a very part-time job until sustainable employment.Input side, the decline on a year because of enrollment for CSD (-14.5%), temporary mission (-14.5%) and redundancy (-31.1%) demonstrates that economy is indeed on the road to recovery. A feeling confirmed by the rebound of 3.6% of jobs collected in July.

Bond assisted contracts

Conversely, the social treatment of unemployment runs rampant over the past year: the release of employment center for internships have increased by 11.7%. Even finding the side of beneficiaries assisted contracts (Class E), the number has jumped from 45.5% in one year. "We remain below the number of contracts sold under Jean-Louis Borloo and Martine Aubry," qualifies the Secretary of State for Employment.

Three other flats are relative good figures for July.Senior citizens continue to register in mass (1.1% in one month and 17.1% in one year) and nearly 50,000 more to be pushed into the doors seven months of employment center. A downward spiral that Laurent Wauquiez hopes curb with the introduction in 2011 of a device "zero charge" for the hiring of a senior unemployment. On the other hand, the long-term unemployment is endless progress: + 0.8% in July, bringing to 36.2% the share of those unemployed for more than a year on average over 424 days ( 30 in ten months). Finally, the radiation increased by 7.3% in one month and 9% a year.

ALSO READ

"Decline of social plans in the first half

"The executive employment confirms its rebound

"The employment up slightly in second quarter

Societe Generale on Wednesday posted a net profit by 3.5 Muliple the second quarter of 2010, above expectations, with a decline in its stores and a smaller than expected loss in its toxic assets. The bank led by Frederic Oudea confirms its objectives. SocGen, which has set a target of an annual profit of 3 billion euros, has already earned a net profit of 2.1 billion in the first half alone.

The second quarter was particularly strong for the second French bank by market value after BNP Paribas. It has indeed achieved a net profit of 1.084 billion euros for the second quarter ended in June, where the consensus reached by Reuters expected a general result to 732 million. The jump of the result depends primarily on a favorable base effect.In the second quarter of 2009, the bank had indeed been beset by such elements exceptionnels.Le group had had to reassess the value of its debt, due to improved market conditions, which had cost $ 1.3 billion over the period. This time, Societe Generale has received the opposite effect, to the tune of 254 million euros.

The cost of risk declines more slowly than in BNP and HSBC

Like BNP Paribas, which has published its accounts on Monday, its provision for potential loss on the credit over the period fell 6%. However the pace of decline in the cost of risk is much slower than some of its rivals, reflecting a more cautious speech of SocGen on strength of economic recovery.

BNP Paribas and British bank HSBC, for example reported Monday in stores near their level before the crisis."The economic recovery that began in late 2009 confirmed, but it remains fragile," said Frederic Oudéa, CEO of Societe Generale, said in the statement. "Especially in Europe, growth prospects remain subdued," he adds.

Penalized by the toxic assets, and author of "profit warnings" on their accounts of 2009, SocGen tries since the beginning of year to convince the market of its ability to turn the page of the financial and economic crisis and the of the Kerviel affair. The new management team led by Frederick since May 2009 Oudéa promised mid-June to double the profits of Societe Generale in two years and is targeting a net profit of six billion euros in 2012.

Proposed acquisitions

The bank is also considering acquisitions but said it does not fund them through capital increases.Besides the new strategic plan, the results of resistance tests conducted on 91 European banks and the announcement by the Basel Committee's flexibility to draft new banking regulator has made a boufée oxygen action SocGen, long shunned by investors.

In the past four weeks, the title, boosted by good news on the European banking sector jumped 40%. Since the beginning of the year, however, still leaves nearly 8% and continues to underperform its benchmark Stoxx 600 European banks.

ALSO READ:

"CASE SPECIAL – Case Kerviel, the trial of a system

The downward trend is continuing. After a decline of 1.2% in June and 11.5% in May, new car registrations in France fell 12.9% in July to 169,804 units, according to the Committee of French Automobile ( CCFA). A comparable number of working days, the decline in sales stood at 8.7%. The month of July had 21 days this year, against 22 last year.

"This is indeed great car scrapping begins to decrease," said a spokesman for the CCFA to Reuters. "But we have a slow decline, not an effect to the German, which is rather positive," he added. In Germany the first European car market, the scrappage has indeed been deleted from the exhaustion of the envelope at the start. The relapse was rapid.The German market has declined from 32.3% to 289,259 cars registered in June

In France, the government has opted for a gradual withdrawal of aid device. The scrapping bonus of 1,000 euros last year, was reduced to 700 euro from 1 January and 500 euros July 1.

Dacia and Volkswagen in good shape

While Volkswagen (11.9%) and Dacia (% 47.5) drew their game well, all the other major brands have lost ground on the French car market last month. Sales only French brands, which have benefited most from the demand created by the aid fell by 15.4% in July, while those of foreign brands fell 9.9%.

In the duel Franco-French, PSA Peugeot Citroen has suffered more than its competitor Renault.Its sales have faltered by 15% (-17% to -13.3% for Citroën and Peugeot), while those of the Renault group fell 7.6%. A victory in sham, because largely due to the strong performance of low-cost Dacia brand. The brand with the diamond, it has seen its sales eroded by 15.9%, despite the accession of the Mégane range to the highest step of the podium families of best-selling cars in France last month.

In the first seven months of 2010, registrations in France stand still up 2.8% in raw data to 1,382,240 units, and 2.1% in comparable number of working days, compared to the same period of 2009. For all of 2010, the CCFA expected to registrations of about two million new vehicles in France.

Back to a market more 'normal'

"We are now back to a more normal market, with a second part of the year is traditionally the weakest. Except this time, the end of the year will be much worse with the unfavorable base effect in late 2009, "says its spokesman.

In Spain, the Association of Automotive Manufacturers ANFAC does not show as serene. Registrations of new cars in Spain fell 24.1% in July over a year, a setback after ten consecutive months of increases, "she said Monday. In total, 82,167 new cars were sold in July, against 121,483 a month earlier and 108,221 in July 2009. On Thursday, the Association had sounded the alarm, suggesting a 50% drop in auto sales in July. She even called for "an urgent meeting with Minister of Industry to study the proposals and possible solutions to this serious situation."

Outside Europe, other markets automotive show excellent health. Japan has announced on Monday registrations up 15% for the month of July. In the first seven months of the year, the Japs bought 2,054,094 new cars, or 28.9% more than the previous year.

ALSO READ

"Automobile: the fall is confirmed in Europe

"Automotive: end bonuses begins to be felt

This is the number one concern of manufacturers in China: keeping the fast pace of market? Volkswagen, which wants to double its production capacity by 2013-2014, to 3 million vehicles, will build two new sites, bringing the total to eleven. Rival Nissan will expand its industrial base by 70% by 2012, to 900,000 cars. This level may nevertheless be insufficient, hence the interest group for the Korean Ssangyong sites in the land of Morning Calm, which would allow it to export to China.

After jumping 45% in 2009, thanks to state aid, sales on the world's largest market could grow 20% this year (they were up to fourth in six months). For the next five years, analysts at Nomura anticipate an annual increase of 10%.The market would then exceed – all vehicles – 25 million cars in 2015, against 13.6 million last year. "I expect a long period of growth in China. There is no reason why the rate of motor equipment does not reach that of France, "said Carlos Ghosn, CEO of Renault and Nissan. China had 34 cars per 1000 inhabitants in 2008, against 600 for 1000 in France. Proof of the youth of this market: 60% of new car purchases are the first acquisitions made by elderly drivers average 35 years against 50 years in Europe.

With growth in volumes, manufacturers have emerged in 2009 on the market an operating margin of between 6 and 8%, according to the firm Alix Partners.They benefit from economies of scale related to the full factory utilization, and managed to impose price calculated to generate good margins. The German specialists of high quality rub their hands as their cars more luxurious than elsewhere, are selling much more expensive than in Europe.

Increased competition marks

The most successful brands have managed to adapt their cars to local tastes. This is what the French PSA Peugeot Citroen with its new Peugeot 408 and its future 508. Still small, French wants to increase its market share in China from 3.3% to 5% in 2015. All very ambitious, the conquerors of China, however, will face increased competition from local brands, specialized for the moment in small cars at low cost.Their market share could reach 37% in 2015, against 32% in 2009, according to Alix Partners.

ALSO READ:

"China boosts profits of the automobile

"A phone call to serve," says UFC-Que Choisir. And when he "suffers indeed an antenna problem," he has little chance of getting favors from the influential consumer association. "While Apple has not fixed the problem other than offering a hull, we can not recommend the terminal," she decided, in an article published Tuesday on the Internet. Consumer Reports, its equivalent in the United States, had reached the same conclusions in early July.

Since then, responses have poured on specialized sites, questioning the UFC-Que Choisir on the accuracy of its benchmarks and its independence. Asked by lefigaro.fr, the Consumers' Association said that its tests are not conducted internally, but "by independent laboratories, according to strict protocols."It'sa huge investment, which requires very expensive equipment," explains Camille Gruhier, author of the article, which boasts one of the "strongest battery of tests" of the press.

So this device as the iPhone has faced four. "In the best case, the sensitivity of the device is better than previous versions," admits Vincent Erpelding, engineering project manager in the UFC-Que Choisir. But a sharp drop in sensitivity of average conditions for receipt, Edge and 3G has been "recognized and quantified, since the phone is held by the left flank around a small black border, his weak point .For this reason, the phone will no longer star in sensitivity in the test published in September in the magazine of the association, and will be decommissioned behind all its competitors.

"We have warned the consumer"

In his defense, however, since Apple says that two weeks all smartphones are affected by a problem identical reception. But other phones, hand-held around their antennas, are much better than the iPhone 4. To ensure this result, the UFC-Que Choisir has tested two other handsets, the Nokia N85 and the iPhone 3G in similar conditions. The numerical results show each time a "small fall" of sensitivity in contact with the antenna, but not in the same proportions as the iPhone 4.

For now, the consumers association has not tested the new phone from Apple by surrounding it with a shell, or by varying the power of the network.Additional tests should be published on the Internet. Apple says the problem arises more in areas where coverage is poor, and would be resolved by adding a protective cover. "The network in Europe is much more successful than the United States. The problems and the risk of making calls will be far fewer, "said Camille Gruhier.

If the UFC-Que Choisir concedes qualities in the iPhone four, including ergonomics, picture and sound, it claims to be in her role does not recommend to his readers. "The choices we made the choice to downgrade is a warning to consumers. You can not tell people that the iPhone is fabulous four, while in some circumstances, they may see their dropped calls, "argues Camille Gruhier. "I do not think that our ranking will drop Apple's sales, but have warned consumers," she concludes.

New twist in the drama of the French ship Financial. As stated Wansquare, Saade family, owner of CMA CGM, has initiated discussions with the Belgian billionaire through its capital increase required by the creditors of the group. These negotiations were still preliminary notified to the Commercial Court of Marseille. Brother Albert is not alone. He would lead the discussions in partnership with another French investor.

In this tandem plus the Strategic Investment Fund (ISF) has always said he would participate in this capital increase valued at approximately $ 750 million. Qatar Holdings, which in turn has made an offer earlier this month, would not be totally ruled out by Saade.

The CAC 40 would he find his way? In any case, this suggests that his continued positive territory by mid-morning, up 0.64% to 3623 points after opening down 0.13% to 3595.66 points.

Elsewhere, the same trend. The London Stock Exchange, which opened down 0.37%, is now up 0.15%. The DAX index of the Frankfurt Stock Exchange, which had also started the session on a decline of 0.27% is now 0.39%. The Madrid Stock Exchange, where banks are under pressure as explained in the El Pais newspaper in its edition today, regaining ground with a fall of 0.16% against -0.54% in early trade.

The waiting game surrounding the publication of results of stress tests of European banks calls for caution investors. On the currency markets, the euro back a bit against the dollar, under $ 1.29.

Volatility will be the point common to all European trading sessions this Friday.

Asian markets have been chosen more strongly green this morning. Yesterday, U.S. markets have done a great meeting at which time the Dow has gained almost 2%, relatively insensitive to the announcement of a surprise increase in weekly unemployment registration.

Consumption of French decline

In terms of macroeconomic statistics, the session looks very calm. No major indicator is expected in the United States.

In France, the French household consumption of manufactured goods fell 1.4% in June after the previous month was supported by purchases of televisions before the World Cup, according to figures published by INSEE before the opening markets.Throughout the second quarter, it shows a decrease of 0.9% after falling 1.9% on the first three months of the year. Analysts on average expected a rise of 0.2% in June

INSEE also believes that the request to industry has increased significantly in the second quarter but is expected to decline in the third. The balance measures the views of industrialists on the past evolution of aggregate demand was 9 in the previous survey in April to 17 in July, and 4-14 for foreign demand.

In Germany, business climate has improved significantly more than expected in recent weeks. The Ifo index rose to 106.2 against 101.2 in June (revised from 101.1 in estimating intials) last month. Economists and analysts had expected decline to 101.6.

TF1 jumped after its results

The stress test, however, occupy the banking sector.BNP Paribas (-0.60%), Societe Generale (-0.84%), Credit Agricole (-0.36%), Natixis (BPCE. -0.39%) or Dexia (-0.39%), remain cautious.

Moreover, the markets will again this session to analyze several quarterly publications:

TF1 (4.83% to 12.27 euros) announced before market advertising revenues up 11% in the first semester for a total turnover of 1.28 billion euros, above consensus. Net income group share was 74 million euros over the period. The objectives are significantly revised upward with a turnover in 2010 rose by 7% instead of 4%.

STMicroelectronics (-2.30% to 6.58 euros) reported Thursday a profit above expectations at 18 cents per share, with sales up 27% to $ 2.53 billion.Analysts on average expected a profit of 14 cents per share and a turnover of 2.513 billion dollars.

Pernod Ricard (-1.56% to 63.11 euros) a statement on Thursday its forecast annual operating profit thanks to the improved economic environment and its position in emerging markets. Its turnover in 2009-2010 emerged, up 2% on a comparable basis.

Ubisoft (0.65% to 7.02 euros) issued a turnover up 94% in the first quarter of 2010-2011 to 161 million euros and confirmed its objective of a sales draft 160 million for the remainder of the year.

BioAlliance Pharma (5.29% to 5.77 euros) announced a record turnover of 15.2 million euros in the second quarter against 1.5 million a year earlier, after recording in April in U.S. Loramyc, headlight treatment of fungal infections in patients with oral cancer or AIDS.

As for ads, Alstom (1.80% to 37.83 euros) said it had won contracts valued at about 450 million euros for the construction of two units for a combined cycle power plant in India.

Air Liquide (-0.40% to 86.43 euros) announced Friday the signing of a new contract with Russian steelmaker Severstal for investments worth 50 million euros in total.

Legrand (-0.61% to 25.06 euros) Thursday announced a takeover offer for Indo Asian Switchgear India, where he produced nearly 4% of its annual turnover after the acquisition.Indo Asian Switchgea aims for 2010 sales of more than 35 million euros.

Maurel et Prom (+0.24% to 9.42 euros) announced Thursday it had increased to approximately 70 million euros the amount of its issuance of convertible bonds to five years following the full exercise of the option overallotment.

This is one of the largest employee share plans in recent years. GDF Suez, which offered about 200,000 employees worldwide to receive shares of the group, welcomed the success of the operation. Nearly one third of employees (over 67,000) have said "yes", for a total of 25 million shares and 535 million euros. Exceeding the ceiling set by the board (almost 500 million). "Few groups are engaged in transactions of this magnitude," said Sami Toutounji, partner at Shearman & Sterling, except for example, recently EDF, which has far exceeded this amount, or Axa who approach regularly.

The staff of GDF Suez will thus receive 1.1% stake in Arcelor. Turnout was highest in France, Belgium, Italy and Germany.Outside Europe, Brazil, Chile, Argentina and the United States recorded the most sales Payday Loan for Bad Credit.

The employees of GDF Suez could buy shares at a discount of 20% over the past 20 trading days. Is 19.78 euros per share. The firm abounded these subscriptions, offering titles such as 10 to 10 purchased, subscribed for 50 or 20. Employees could also prefer to invest with no discount, but with a guarantee on invested capital (and insurance to recover at least their implementation) and performance-indexed monthly changes in stock price. Both formulas have been as successful as the other one.

"ALSO READ:

"Employee ownership resists rather well to the crisis

"GDF Suez preparing a bid for International Power

"GDF renegotiate the price of gas

Industrial projects of Renault in Russia are becoming clear. In cooperation with its Japanese subsidiary Nissan, the automaker in diamond should invest 300 million euros in the construction of a plant of national carmaker Avtovaz, which holds 25% stake. The goal: to produce three new small car from 2012.

This information has been reported by the Japanese business daily Nikkei, citing the chairman of Avtovaz, Igor Komarov. The total investment on the site amount to 400 million euros, Renault and Nissan, taking on two of them three quarters.

The models will then be marketed by each group its name, from 2012 or 2013 will come out every year with assembly lines, 150,000 Renault, Nissan 75,000 and 75,000 vehicles Avtovaz Lada brand.One way for the firm of Togliatti (980 kilometers southeast of Moscow) to benefit from technologies developed by the Franco-Japanese. Last March, the three partners had already announced the creation of a new common structure to increase the use of parts produced in Russia and improve the quality of suppliers.

Restructured, Avtovaz returned to the green

This announcement follows the presentation on Thursday, the financial restructuring plan Avtovaz, which plans from Renault investment of 240 million euros in the enterprise technology and materials no fax cash advance. In return for this, and in accordance with his wishes, the French manufacturer keeps intact its stake in the Russian manufacturer, while the conglomerate state Rosstechnology increases his (29%).In contrast, the investment bank Troika Dialog sees its participation diluted. The cards will be reshuffled in 2012. Like all builders in the country, Avtovaz has benefited greatly from program scrapping set last March by the Russian government, which has also planned to extend it.

At the price of a heavy restructuring, the group that there is less than a year, was on the brink of the abyss, even recorded a profit of 1 billion rubles in the second quarter (25 million euros). Nevertheless, the models produced by Avtovaz, including the famous Lada, are far from holding the rope against the European competitors, even if the manufacturer holds 30% of Russian market. "He does not let the success of the plan of scrapping done overshadow our true goal: to modernize the company, recently recalled the Prime Minister, Vladimir Putin the President of Avtovaz, Igor Komarov.Under the watchful eye of the Kremlin, the objective of the three manufacturers, Renault, Nissan and Avtovaz, is taking 40% of Russian market in 2015.

ALSO READ:

"The Russian Avtovaz plans to be profitable this year

The CAC 40 begins the week in positive territory. At the opening, the benchmark index of the Paris Stock Exchange gained 0.23% to 3562.70 points. This gain is difficult to maintain and to 10 hours, the ACC is slightly in the red (-0.13%).

This morning, Asian markets have chosen a conservative increase in the wake of the positive closing of Wall Street Friday. U.S. markets ended the week on a fourth consecutive session progress (0.57%).

The LSE has also opened up, the Footsie index gaining 0.34% to 5150.41 points. The DAX index of the Frankfurt Stock Exchange has its open side for a gain of 0.24% to 6079.95 points.

In Paris, the stock reached Friday to keep the threshold of 3,500 points, allowing the benchmark index of snatch 6% in five days. On Monday, investors will try to keep this momentum. The meeting, however, looks very calm on the side indicators.The markets have learned before market that current account deficit had settled in France to 4.5 billion euros in May, from 2.9 billion in April, seasonally adjusted data.

The rest of the week will be loaded, the U.S., several interesting publications such as the budget (Tuesday), sales information (Wednesday), registration weekly unemployment (Thursday), or the index of sentiment consumer (Friday).

Caution is also placed on the European stock exchanges should begin when the ball Publications overseas credit reports free. From Monday, Alcoa will launch the festivities with the results of its second quarter.

Zodiac rejects the advances of Saffron

As for values, the supervisory board for Zodiac (2.78% to 40.89 euros) announced Sunday that he would not pursue a business combination proposal made by Safran.

Alstom (-0.12% to 38.68 euros) was applying for the construction of four stations on the route high-speed rail that will link Jeddah to Mecca, said Sunday the company to Saudi Railways ORS .

Carrefour (0.61% to 34.81 euros) is to publish its second quarter results on July 15 after the close of trading.Analysts already expect a turnover of 24, 78 billion euros (+5.7%) including 10.29 billion in France (+1.6%) and 5.18 billion (-0.6% ) in hypermarkets.

Cameo (0.61% to 162 euros) announced Friday for the second quarter decreased by 11.3% of its sales, surface and currency comparable because of the lag of a week of dates on balances as of June July. The turnover for this period amounted to 190.2 million euros, up 1.1% on published data.

Total (+0.69% at 38.56 euros) had launched legal proceedings to challenge the decision of the Court of Appeal of Douai to force him to reopen his site Dunkirk.