Business World |

Bids climb for 3PAR. The computer giants Dell and Hewlett-Packard are engaged in a struggle to redeem the American Society of data storage. A standoff that intensified this week.

Last rebound on Friday: HP announced in mid-afternoon that he raised his bid for 3PAR to $ 30 per share, valuing the company proposed data storage to 2 billion dollars! Rival Dell had announced earlier in the day he lined up on the previous HP offers made Thursday night: $ 27 per share, or $ 1.8 billion.

In this battle of "cloud computing (cloud computing via the Internet), and two days are alike. The day of Thursday has been marked by the same scenario.By putting on the table an offer to 1.8 billion, HP responded to Dell, which had outbid earlier in the day.

For Dell, the matter seemed closed Thursday morning. Thirty cents per share closely. Indeed, the offer was raised from Dell was barely higher than that of HP, to 24.30 cents per share against 24 cents. If the transaction would receive the green light from authorities, Dell assured however that it could be finalized before the end of the year. The computer maker also added that the operation "should have a positive impact on [his] profit excluding exceptional items from fiscal 2012.

The "cloud computing" is popular

It was without counting on the pugnacity of HP payday advance lender.The acquisition would allow 3PAR to expand its range of storage products for cloud computing and support services activities, like other industry heavyweights like IBM, they tend to generate higher profit margins than sales of computers.

The ball is now in the hands of Dell. And it did not intend to waive 3PAR Friday. "The group continues to believe that the acquisition of 3PAR, and its storage technology market leaders, is an important operation for our customers and will strengthen Dell's position on these services," he said in its statement.Dell has until Sept. 20 to launch a public offer to acquire all the shares of 3PAR, "unless the offer is extended," he says.

The battle began last Aug. 16, when Dell announced plans to acquire 3PAR price of $ 18 per share. A week later, HP came out of the woods. Last Monday, the group also proposed 1.6 billion dollars against 1.15 billion for Dell. The suspense continues, therefore. And the recovery of 3PAR flies …

On Friday, shares of Hewlett-Packard bend 1.5% to 37.6 dollars in Wall Street, about 17 hours, while Dell shares advance 1.8% to $ 12. 3PAR him, flew 21.5%.

ALSO READ

"3PAR Dell raised its offer

"Hewlett Packard and Dell in the struggle on the high-tech

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

For Goldman Sachs, which published its investigation on Friday morning, ten of the 91 tested banks will fail. That is to say it does not retain a sufficient level of equity in the event of deteriorating economic conditions.

The success rate would be 89%. According to the study of the American bank, the banks are based in Spain, Germany and Greece, which should raise the more capital, adding that the source of these funds should be half public and half private.

The newspaper El Pais reported in its edition today that part of the 18 Spanish savings banks failed the test of resistance.To believe the consensus reached by Reuters, in Spain, only seven banks have passed the exam, including the largest as Banco Santander, BBVA, Banco Popular, and the "Cajas".

That success expected for French banks

In France, banks found – BNP Paribas, Societe Generale, Credit Agricole and BPCE (Natixis) – should all pass. The analysts and Christine Lagarde have confidence.

Full house expected also for the United Kingdom, examined on HSBC, Barclays, Royal Bank of Scotland and Lloyds Banking Group. In Ireland, Bank of Ireland and Allied Arish Banks also would reach to get good results.Same as in Italy, with Intesa Sanpaolo, UniCredit and Banco Popolare including headlining.

In Germany, a handful of banks should be in a situation of failure, particularly those that are undergoing restructuring.

Failure: it will recapitalize

According to Goldman Sachs, European banks should raise an average total of 37.6 billion euros in fresh capital as a result of these stress tests, whose results are expected Friday at 6:00 p.m., after the close of European stock markets but in full session on Wall Street.

In search of capital, these banks 'risk' may first explore to their shareholders or to appeal to financial markets no fax payday advance. If this is not enough, she can turn to state aid at the national level.Finally, as a last resort, they can "take advantage" of the famous European support plan put in place at the European Union and the International Monetary Fund.

Confidence in the results, distrust Performances

With a success rate approaching that expected of the baccalaureate, the question is what will truly value the conclusions of these stress tests. Experts warn that it would be better to consider the assumptions made when simulating a situation worsened.

"The information currently circulating in banks suggest that the stress test favors disclosure of a satisfactory result compared to a real and solid technical verification," says Pierre-Antoine Dusoulier in a forum.

These data suggest that in fact the test cases would be fairly "light" in particular in the field of defaults on sovereign debt. Assumptions of the macroeconomic developments would also be applied "without knowing it for the moment the link established by the test between GDP growth, unemployment and inflation."

In addition, past forecasts on macroeconomic parameters were simply struck by the actual conditions. In spring 2008, the European Commission expected a growth of 1.7% in 2008 and 1.5% in 2009 for the euro area. Real growth was 0.45% in 2008 and -4.1% in 2009.

Pass the exam stress test is a bit like having your bachelor's degree with an overall average just over 10/20. This is not the best conditions for its future.

Bernard Arnault regain its leadership among the rich. After having given way in 2008 to boss Gerard Mulliez Auchan, the boss of LVMH prances again tops the ranking of richest people in France, published Wednesday by the weekly magazine Challenges.

Arnault's fortune amounted to 22.7 billion euros, against 19 billion for Mulliez. Among the top three also included Liliane Bettencourt, whose name is now mentioned more as the protagonist of a politico-financial series and its maintenance in the third-largest fortunes in France.

"2010, the year of the crisis for the rich"

Despite the context of crisis, the profits of the rich have increased compared to 2008 payday loan lenders.According to the study, the total capital assets of the 500 largest French professionals has increased by 25% in one year, from 194 to 241 billion euros. That figure remains below the record level of 2007 (280 billion euros). The weight of the 500 largest fortunes in the French economy has also declined from 17% of gross domestic product (GDP) three years ago to 12.4% today.

Several indicators suggest that 2010 will be "the year of the crisis" for the rich, notes the weekly. In one year, the title LVMH has indeed jumped 40%, like that of L'Oreal.

The French will they give a hard time in government? After the presentation of the draft pension reform by Labour Minister Eric Woerth, a survey of Le Parisien in France * Now provides an overview of their state of mind. In disagreement with the reform, of course, but with few illusions about a possible return back. The government has hinted it is true for several months that a reform of the pension system was inevitable, like the steps already taken in neighboring countries.

According to the poll published in the Thursday edition of Le Parisien, 60% of respondents said they in fact disagree with the proposed pension reform. A higher proportion of no surprise among supporters of the left (73%) than among supporters of right (24%).Traders, businessmen and artisans are also those who most support the reform, while workers and employees are the most heavily opposed.

Mobilization June 24

In total, 52% of respondents who consider the reform "unfair" and "not effective". Another aspect of the survey that could worry the government: they are 78% believed that the reform could generate important social movement. A concerted effort is already scheduled for June 24. It will "definitely strong, we do not fear," warned Eric Woerth Thursday morning on RTL. The unions, however, until Friday, when the project should be tabled several boards including the notice is required to reverse the project.

The government could include concessions on long careers and arduous.However, it should give way on the legal age of retirement, increased to 62 in 2018. Eric Woerth, Wednesday night on TF1, was very firm on this point: "We will not return to age-related measures because they are serious and socially acceptable," he warned. A delay on which the French did not have no illusions: they are 52% believed that the Socialist Party does not reintroduce the retirement at age 60, despite recent statements of Martine Aubry in this direction.

* Survey conducted by telephone, on a representative sample of 940 persons aged 18 and over, by the quota method.

ALSO READ:

"REACTION: Aubry denounces Reformed pensions" irresponsible "

»COMPUTER GRAPHICS – Retirement: what will change

"INTERVIEW – François Chérèque:" This reform is a provocation "

"Retirement at age 62: the project is on the table

Wall Street in the red. The U.S. stock market reacted badly to the degradation of the sovereign rating of the debt of Portugal. Standard & Poor's said Tuesday it has lowered the rating two levels of long-term sovereign issuer of Portugal, A-A + cons.

The rating agency also lowered by three notches note of Greece, from "BBB +" to "BB +", relegating to the category of "junk", speculative investments.

The President of the European Central Bank (ECB), Jean Claude Trichet immediately to reassure the markets by indicating that it was "no question" that Greece or any other country in the eurozone could default on its obligations. But this ad is not enough.

Around 5:40 p.m., the Dow Jones coward 1.07% to 11.1085 points, the Nasdaq was down 1.41% at 2,488 points while the S & P lost 1.49% to 1195 points.The European financial markets have tumbled at the close.

In this new addition to the opening of the hearing officers of Goldman Sachs by the Subcommittee of the Senate. Goldman Sachs (2.46% to 155.48 dollars) will continue to attract the attention of investors. CEO Lloyd Blankfein, Chief Financial Officer David Viniar and Fabrice Tourre are heard in Washington before the Subcommittee of the Senate. While the financial sector following the case closely, so the reform of financial regulation was postponed by the Senate. It remains feared by the banking sector. Concerns focus on the reform activities in derivatives that could affect the performance of the investment bank.

The bank responded in different ways. Bank of America lost 0.22%, Citigroup slumps to -2.27%, while JP Morgan Chase is 0.23%.

Confidence off again

U.S. consumer confidence improved considerably in April, reaching its highest level since September 2008 thanks to greater optimism about the job market, according to the index of employers' organization the Conference Board released Tuesday. The index stood at 57.9 in April against 52.3 in March. He had reached that level since September 2008 which corresponds to the bankruptcy of U.S. bank Lehman Brothers. Analysts polled by Reuters expected at 53.5.

For their part, the prices of residential property in the United States still slightly in February but they registered their first increase in annual rate over three years, at +0.6%.

Herz sanctioned

As for values to follow, investors will have the matter: this is indeed the highlight this week, publication of quarterly results.165 companies to sacrifice performance.

After the close of yesterday evening, several, including Texas Instruments (0.26% to 27.22 dollars), have already published. The semiconductor group has unveiled strong results. The Texan also reassured to 56-64 cents per share on a turnover of at least 3.31 billion dollars in the quarter, against respectively 53 cents and $ 3.23 billion for Bloomberg's consensus.

3M (1.96% to 88.74 dollars) announced Tuesday it posted a net profit of 930 million dollars in the first quarter, up 80%. Revenues climbed 19% in one year, 6.348 billion dollars.

U.S. Airways (1.39%) has reduced its losses in the first quarter. In the first three months of 2010, net loss was $ 82 million against a loss of 382 million a year earlier.The turnover increased by about 15% to $ 4.24 billion, above analysts' forecasts (4.18 billion).

DuPont (-0.84%) reported a net profit of 1.13 billion dollars (850 million euros) against 489 million during the corresponding period a year earlier. Its turnover rose 23.5% to 8.48 billion, against 8.06 billion expected by analysts. The chemist has also raised its forecast for 2010.

Ford (-5.81%) reached a first quarter net profit of 2.1 billion dollars (1.6 billion euros) against a net loss of $ 1.4 billion over the same period last year. Its turnover rose to 28.1 billion dollars against 24.4 billion in the first three months of 2009.

Note that the number one car rental Hertz (-2.72% 14.25 dollars) bought its competitor Dollar Thrifty (-1.07% to 42.61 dollars).It will pay 1.27 billion dollars and 1550 points will earn additional rental. A crucial task for Hertz, which remained in the red in the first quarter with a net loss of 150 million dollars.

The U.S. administration smiles again. On leaving the G20 meeting in Washington Friday, Timothy Geitner has been shown. The Treasury secretary now considers that the recovery in the United Etatx will be driven by the private sector in 2011, implying that the economy will need at that time a support plan. "We are quite certain," he assured.

This is the first time since the end of the U.S. recession in the summer of 2009 that an American official raised the possibility of autonomous growth in the United States. In his speech, the more optimistic on the U.S. economy in mid-April, the central bank chairman Ben Bernanke had told Congress that the recent economic evidence "suggests that the increase in final demand would be sufficient to ensure recovery Economic moderate in coming quarters. "He did not, however, ventured to advance a date for a possible self-sustaining recovery.

These perspectives on the future economic conditions are more optimistic than the Treasury Secretary has made since his arrival at this position in January 2009. They are based mainly on economic indicators better than expected since the beginning of April.

Deficit

Asked how the administration intends to reach its deficit reduction monster, Timothy Geithner has again shown reassuring. According to him, Washington has promised to focus on deficit reduction in 2011. A date that coincides precisely with the arrival of a real growth driven by private sector efforts to lessen the fiscal stimulus.The U.S. deficit reached yet about 10% of GDP in 2008-2009 and could rise to 10.6% for the current fiscal year, which ends in late September.

In this regard, the U.S. Treasury Department said Friday in a letter to the chairmen of both houses of Congress and heads of the parliamentary opposition, that he saw sharply lower its estimate of the total cost of all measures rescue the financial sector taken by federal authorities since the beginning of the crisis. The ministry is now talking to a maximum of $ 87 billion, less than 1% of GDP.

Program to support the liquidity the Fed rescue of AIG, Chrysler and General Motors, through the aid homeowners in distress a year ago, the Treasury estimated that the losses of the state would reach 500 billion dollars, or 3.5% of GDP."This means that the federal budget deficit and public debt will be substantially below what was expected before," the Treasury.

The return of job creation

On the employment front, the optimism is also relevant. "Next month, I think we will create between 100,000 and 200,000 jobs," said Vice President Joe Biden on Friday during a trip to Pennsylvania. "At the White House, some say to me: 'do not you progress too'. Well, I'm here to tell you that in the coming months we will create between 250,000 and 500,000 jobs per month, "he added.

For now, the unemployment rate remains high at 9.7% of the workforce. "I'll tell you something, folks. We have not stumbled badly in the fall.As well we have designed our plan to end the crisis, we have a lot of good news on the road to recovery, "assured Joe Biden.

These statements come as the U.S. economy has created jobs in March in a way never seen for three years: 162,000 net jobs were created this month, according to figures from the Labor Department. The country began to "see the end of the tunnel," according to President Barack Obama.

ALSO READ:

"Obama criticizes Wall Street and defends his reform

"The recovery is gaining ground as the G20

The Paris Bourse is a pause.Alors that Wall Street has ended the day by standing still and that the Asian stock markets operate in a disorganized this morning, and without trend, the CAC 40 has opened close to balance on Wednesday, falling very little, from 0.13% to 3982.15 points.

Shortly before the opening bell, Insee has published a public debt to France, 77.6% of GDP, against 67.5% of GDP in 2008. The deficit was driven in by 1.8 points to 7.5% of GDP in 2009, a figure slightly less bad than expected (7.9% expected). The deficit increased a total of 80.1 billion, reflecting a decrease of 4.3% of revenue and an increase of 3.8% of spending, Insee said.

Furthermore, producer prices rose 0.1% in February in France after rising 0.6% in January.

Elsewhere in Europe, the main financial centers are also changing in peace: in London, the Footsie index Gently fold from 0.07% to 5668 points, in Belgium, the Bel 20 was down 0.18% at 2651 points.

But after the trading session should be much busier then a rain of important indicators will be published Wednesday in France, Europe and the United States.

An ample macroeconomic news

At 11 hours, the rate of unemployment in the euro area will be watched by investors, as well as inflation in March (first estimate).At mid-day also, the French Building Federation (FFB) will hold a press conference on the prospects of the market in 2010.

Overseas, his eyes riveted on the figures ADP employment in the private sector in March, which fall at 14.15 (they are the employment figures to be unveiled Friday are the most anticipated by investors) . In February, U.S. employment had come out better than expected. The unemployment rate was 9.7%.

Half an hour later, the economic activity of the Chicago area over the same month that will be scrutinized by investors. Then at 16 hours, February industrial orders register on the radar screens of traders.Finally, at 16:30, the weekly crude oil inventories in the United States will be made public overnight pay day loans.

Other events to note on Wednesday for the first time a foreign minister, in this case the French Minister of Economy Christine Lagarde, participates in the German Council of Ministers, devoted in particular to a stabilization fund for banks (9:30). It will then hold a press conference with his German counterpart Wolfgang Sch?uble at noon.

Societe Generale court

The French bank Societe Generale must respond to a complaint filed by New York Court of pension funds and individual investors who accuse him of having wasted money.The bank securities retreated in early trading from 0.49% to 46.48 euros.

Axa declines sharply (-0.82% to 16.34 euros, the biggest drop CAC 40) while S & P downgraded its rating on value. Just behind BNP Paribas plaice 0.77% to 57.84 euros.

Regarding EADS (1.28%, to 15.07 euros, 2nd best performance of the ACC) and Replenishment American, Barack Obama, during a press conference in Washington with Nicolas Sarkozy, has said it wants " avoid all-protectionism ". He promised a selection of "free and fair" for the contract to 35 billion euros.

Schneider Electric is displayed at the top of the list, with an increase of 1.97%, to 87.11 euros.Vinci rises from 0.97% to 44.22 euros, still boosted by his victory over the tender to 7 billion euros for the HSL South-west France.

Later publications, the leading classifieds website Adenclassifieds saw its net profit fall by almost 88% last year. But there have been signs appear since the end of 2009. At approximately 9:10 am, no title Adenclassifieds not traded.

On Wednesday, Orpea, a leading French farmers establishments comprehensive care for dependents, has published a rebound in net income of 26.1%, to 61 million euros. The shares climbed 3.3%, to 31.51 euros and are headlining on the SBF 120.

Neopost back him, 2.53%, to 59.7 euros. The group saw its net profit fall by 5.7% in 2009 to 147.9 million euros.

The automaker Nissan announced today the pricing of its forthcoming electric car, the Leaf. The price in Japan is 3.76 million yen (approximately 30,220 euros) and with government assistance provided, it will be 2.99 million yen or about 24,000 euros.It will pre-order from April in Japan and will be visible in the streets in December.

The release of constru ctor Japanese released Tuesday morning said that during use of six of the Leaf, which is completely electric, the cost of the energy supply of the vehicle would be 86,000 yen (about 690 euros) against 670 low fee payday loans.000 yen (about 5380 euros) for a car in the same category as gasoline.

Sales targets

Nissan expects to sell 6,000 units of the Leaf in 2010 in Japan and will offer its customers equipment necessary to recharge cars.

Apart from Japan, Nissan plans to launch its forthcoming electric car in the U.S. and Europe from 2010 as well.The manufacturer will indicate the prices for these different markets later this year.

ALSO READ:

"Nissan will build electric cars across the Channel

The charging of electric vehicles is standardized

LE FIGARO. – Sales of Fnac fell 1.9% last year, while operating profit was progressing. Have you preferred the return to growth?

Christophe Cuvillier. – We have managed to combine growth and profitability. Our performance is higher than the market in most countries where we operate. We gained market share in areas of the disc and video, thanks to Blu-ray, which FNAC is well placed. Most actions to strengthen our dynamic sales have begun to bear fruit, such as selling video games of chance.

In France, sales leveled off last year after two years of declines. 2010 will Does the year of recovery?

We strive to boost sales.We will continue the deployment of passion spaces in Paris, the provinces and abroad with fifteen new space devoted to comics, to the hi-fi, classical music … All three shops in Paris where we opened the first seven The growth in sales departments concerned is 5 to 10 points above average. We will also carry three to fifteen spaces our stationery.

What is your strategy to accelerate sales on the Internet?

Internet is at the heart of our strategy, we will strengthen the complementarity between the Web and our stores. Our goal is to achieve 10 to 11% of our activity fnac.com in 2010, against 9% last year. A new iPhone application will be launched in late May Customers can interact with the store via their mobile to view a product description or read reviews from users.We will also launch several community sites. Three will be in place by June on comics, manga and photography.

You've also created a "marketplace" …

The space of intermediation between sellers, individuals or professionals, and Internet was far open to sale of editorial products (books, CDs, DVDs …). It will be extended in 2010 to technical products, and offered to customers wishing to order in store. In 24 hours, the entire supply to be so accessible, wherever you be!

Apple multiplies the opening of Apple Stores in France. How do you react to this competition?

This we do not particularly pleased, but it is exciting. If Apple is so ambitious in France is that a lot of success with Fnac, where he conducts much of its sales.We will continue to be a partner with our 25 spaces dedicated to the brand.

Have you decided to sell your 40 stores Fnac Eveil & Games?

We are currently investigating several policy options.

Fran?ois-Henri Pinault, the CEO of PPR repeat last year he wants to sell the Fnac. How do you manage the company and its 14 600 employees in these conditions?

This changes nothing. My horizon is 2015-2020. We will continue our strategy is to build strong positions in stores and on the Internet in France and abroad. Regarding a future new shareholder, it will be important to respect the concept of Fnac.