After a marathon day yesterday crisis between the euro area and global economic issues, the G20 continues this Friday at Cannes. Nicolas Sarkozy, master of ceremonies, will have his hands between preparations for the final communiqué and placed under international trusteeship of Italy payday loans no teletrack.
"Reliving the day Thursday
The U.S. stock markets have opened up slightly on Thursday. The Dow Jones ceded piointse 11495 0.08% and the Nasdaq 0.26% to 2597 points. The session should be again marked by rumors coming negotiations between the Europeans. This uncertainty should urge caution, especially as the latest results of companies from the United States are often disappointing and does not encourage optimism. Yesterday, Wall Street took a break.
Investors are in effect suspended the decisions that should be taken after the EU summit to be held this Sunday. Before this appointment crucial for the future of the euro area, policy-makers of the Old Continent has already promised that a solution to the crisis would be found.
Meanwhile, last minute negotiations are increasing.According to Reuters, citing a paper, "e European Financial Stability Fund (EFSF), will be able to buy bonds on the secondary market" if the countries in the euro area concerned so requests and obtain agreement European authorities.
Following the publication of this document, the euro hit a session high of 1.3838 against the dollar, the European stock markets have erased much of their losses and future on the major indexes on Wall Street resumed a little high. Expanding the powers of the EFSF and increasing its firepower at the heart of the plan for resolving the debt crisis in the euro area. The European Council of Sunday should be an opportunity to specify the details of how the EFSF will be used.
Wednesday, Nicolas Sarkozy traveled to Frankfurt to urgently resolve differences directly with France and Germany Angela Merkel.No information was available for this meeting. The Wall Street Journal, the discussions would focus on the possibility of allowing the EFSF to provide collateral to support bonds issued by countries in need rather than use it to provide direct guarantees.
The Beige Book calls for caution
On Wall Street, the report of conditions in the U.S. central bank (Beige Book) yesterday also a moment of caution.The information gathered by the regional branches of the Fed indicate that overall economic activity rose slightly in September but they also point out that corporate earnings have not improved payday advance.
Finally Moody's said Wednesday night that lowered the rating by one notch from five major Spanish banks, following its decision to degrade the sovereign rating of that country.
Chapter macroeconomic across the Atlantic, weekly claims for unemployment benefits will be published 16 hours as well as sales of existing homes in September and the composite indicator of the economy.Activity in the Philadelphia area in October, which often appears an early indication of economic conditions in the United States, will also be unveiled in 16 hours.
New salvo of results
A Wall Street investors dissect a new salvo of results.
After the close of Wall Street, American Express has released the third quarter earnings of $ 1.24 billion, a net income per share of $ 1.03 against $ 0.96 expected and $ 0.9 year past. The turnover stood at 7.57 billion dollars, according to estimates.
Ebay announced a profit of $ 491 million, or 37 cents a share in the third quarter, in line with expectations.The turnover amounted to 2.97 billion dollars against 2.91 billion expected.
Edwards Lifesciences has recorded a net profit of $ 51.6 million in the third quarter, against 48 million a year earlier.
Noble Corporation saw its net income nearly tripled in the third quarter to $ 135 million against 54 million last quarter.
Stryker has done for the third quarter, a turnover of $ 2 billion, up 14.9%, and earnings per share of $ 0.91, up 13.8%.
Wynn Resorts has achieved a net sales in the third quarter of $ 1.3 billion, against $ 1 billion last year.Adjusted net income totaled $ 133 million or $ 1.05 per share, against 49 million or $ 0.39 a year earlier.
On Thursday, Philip Morris International will release its figures before the opening of Wall Street and Microsoft after closing.
The defeat of the France rugby team against New Zealand does not have a bitter taste for everyone. TF1, the broadcaster of the game, was pleased to display a record audience for a rugby match since 2007. Saturday morning, 7.8 million people watched the match on average, 65% audience share on the 4 and older. "The hearings are excellent. It should be noted that with 50% audience share on Women, the games attract beyond the traditional circle of sports fans, "said François Pellissier, athletic director at TF1. The crowd is even rise to 9 million viewers late in the game in hopes of a last burst of the Blues face the All Blacks.
Since the beginning of the competition, the team of France is mobilizing the masses. The first match between France and Japan gathered 5 million viewers and a week later France-Canada has attracted 7.6 million.Scores of rivers, these early morning hours on weekends, spray the audience share. Usually on Saturday morning, TF1 is a teleshopping program that fascinates 200,000 addicts. Even the traditional "Auto Moto" and "Téléfoot" on Sunday morning, only drain an average of 1.2 million and 1.8 million fans.
If matches are followed, the magazine presented by Denis Brogniart is also a ratings success. Before France and Japan, "World Cup, the Mag" was attended by 2.6 million people, after France and Canada, it reached 3 million. Small disappointment, "Mag" aired last Saturday of 10:00 to 10:30 has made a 1 pay day loans.7 million audience. Even fans give themselves a fat oval ball on Saturday morning!
Spot € 100,000
With France virtually guaranteed to play the quarterfinals, TF1 can breathe.The chain should at least remove some ten million euros in net advertising revenue (not including sponsorship) of this adventure even if France stops at the quarter-final stage. If the Blues are in the semifinals, the addition will reach 11 million and if they reach the final, TF1 should earn 12 million euros net, according to forecasts by Philippe Nouchi, director of media expertise for agencies Starcom and ZenithOptimedia. With France in the quarterfinals, the 30-second spot is expected to sell 84,000 euros, 90,000 euros semifinals and finals 100,000 euros. Without France, it will settle for 37,000 euros a spot in the semifinals and 43,000 euros in the final spot.
For TF1, the economic equation should not be too unfavorable. The group had bought the two editions (2007 and 2011) to 80 million euros.For competition in New Zealand, TF1 decided to sell some games to France Television and Canal + to 13 million euros. If the chain reaps a dozen million of advertising and it boosts average audience of September and October, the operation will be advantageous.
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The U.S. stock markets accentuate their losses on Wednesday. Shortly after the announcements of the Fed, the Dow drops 1.26% to 11,265 points, the Nasdaq 0.44% to loose 2579 points and the S & P was down 1.50% to 1184 points.
In accordance with the expectations of investors, the central bank of the United States announced new measures to support the U.S. economy. It will sell by the end of June 2012 for $ 400 billion of treasury bills and short-term buy for the same amount with a longer maturity in an attempt to lower interest rates in the long term ( it "Operation Twist"). To support the mortgage market, it will also buy real estate securities without increasing the size of its portfolio, according to the Committee.
But markets that find especially its verdict on the economy is not good.The recovery is considered "slow", hence maintaining the rate to almost zero "until mid 2013."
These remarks are similar to those Dufond International Monetary Fund (IMF), which raised the specter of a global recession and launched at policy makers in the world "a fervent call to action". At the same time the institution has significantly downgraded its growth forecasts for the global economy. This is expected to grow 4% in 2011 as in 2012, 0.5 points below its previous forecast of 4.5% last April.
Markets always attentive to the crisis in the eurozone
Investors also remain attentive to developments in the crisis of public finances in Europe.Greece announced on the evening of its intention to launch new austerity measures to convince the Troika of its creditors and obtain payment of a new tranche of aid in October that will allow it to avoid bankruptcy.
Wednesday Rousseff, the president of Brazil, Barack Obama has assured his support for the euro area, together with other emerging countries, as it had already mentioned a week ago.
On the foreign exchange market, the euro lost some ground against the dollar after the Fed. The euro bought 1.3616 dollars late in the session on Wall Street against 1.3702 dollars late Tuesday. The price of a barrel of oil closed lower. A barrel of "light sweet crude" for November delivery ended down a dollar to 85.92 dollars on the New York Mercantile Exchange (Nymex).He had opened down 14 cents, and had rebounded upward after stock figures showing a sharp decline in U.S. reserves.
On the macroeconomic front, sales of existing homes in the U.S. rose 7.7% from July, seasonally adjusted data, the NAR said that sales figures are higher than the median estimate of analysts payday loans.
Microsoft treats its shareholders
The side of values, Moody's said Wednesday it lowered the credit ratings of Bank of America, Wells Fargo and Citigroup on the ground that the Federal government may be reluctant to rush to the aid of large banking institutions in difficulty.
The oil company ExxonMobil (+0.11% A74, 09 dollars) will sell of deposits in the North Sea to fellow Apache through $ 1.75 billion in cash, announced Wednesday it.
Microsoft (-0.85% to 26.75 dollars) announced Tuesday evening after the close of Wall Street that it would increase the quarterly dividend 25% used to its shareholders. The dividend paid on December 8 will be increased to $ 0.20 per share, or $ 0.04 higher than the previous one. Also in order to treat his shareholders Microsoft also recalled that he had launched in September 2008 a program to repurchase its own shares for 40 billion dollars. Of this amount, the group can still make $ 12.2 billion of purchases before the scheduled end of the program in September 2013.
Also after the close, Adobe Systems (3.25% to 25.44 dollars) announced better than expected forecasts for the fourth quarter. The group expects adjusted earnings between 57 and 64 cents per share in the fourth quarter, against 58 cents expected by the consensus of analysts.The leading design software issued a profit of $ 195.1 million, or 39 cents Park share in the third quarter against 230.1 million dollars, or 44 cents a share, a year earlier. Turnover increased by 2% to $ 1.01 billion.
Still in the world of technology stocks, Oracle (6.88% to 30.30 dollars) has issued a net profit up 36% to $ 1.84 billion, just above expectations.The turnover to 8.37 billion, also slightly above what had been expected analysts (8360000000).
American Electric Power (-0.30% to 38.20 dollars) and its joint venture with MidAmerican Energy has been approved by the Texas authorities for electrical infrastructure projects for a total estimated at more than $ 520 million.
Bristol-Myers Squibb (0.35% to 1.60 dollars) and Japan's Ono Pharmaceutical has signed a development and commercialization of Orencia, a biological treatment against rheumatoid arthritis.
FMC Technologies (0.56% to 43.37 dollars) has won a contract worth $ 135 million from BG Norge in the manufacture of subsea equipment.
Medtronic (0.37% to 34.95 dollars) will receive 101 million in damages after the trial against the company by NuVasive.
The airline announced Friday morning the details of his mega-order long-awaited by the industry. Air France-KLM is in need of long-haul 110 and passes a total of 50 firm orders and 60 options from Airbus and Boeing. Choices that are equally balanced between the two aircraft manufacturers as the firm order for 25 Airbus A350-900 and 25 Boeing B787-9 and the options are based on 35 A350-900s and 25 B787. The slight advantage, theoretical, obtained by Airbus was offset by the secret location by KLM B787 10, said La Tribune.
The group did not indicate the amount of the order but at list price, the total value would represent an investment of $ 20 billion and approximately 11.3 billion in firm orders.Following its board of directors held Thursday in New York, the group said the acquisitions "are designed to be funded by cash flow generated by the group's operations."
In addition, the group plans to commission 73 new aircraft by 2024 and then the options are exercisable between 2026 and 2028. The first Boeing 787-9 will enter service with KLM in 2016 while the first Airbus A350-900 will integrate the Air France fleet in 2018. The airline declined to give guidance on the distribution of new orders between the two group companies. "The two companies operate the two types of devices," Air France said simply. Sign that the group is more integrated than before and that the merger between Air France-KLM starts synergies.
Outstanding issues
Points of legal and economic order are still being defined.The discussion include the drivers and maintenance. In fact, the A350-900 ordered will be powered by Rolls-Royce or any device so far the airline did not work with such engines. The most important maintenance service of Air France-KLM has to adapt to new circumstances, notably through new licensing agreements.
And even if Air France-KLM touts its choices "after a detailed assessment" including on energy and environmental performance of appliances, the critics could rocket. One hundred French deputies had indeed launched a petition in June to urge Air France-KLM, which the state owns 15.7%, to choose the Airbus A350 instead of the Boeing 787 for its next command.
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François Fillon on Monday took a trip to the nuclear power plant of Bugey in Ain – one of the oldest park of EDF, one of the reactors suffered its general review of thirty years – to reiterate the government's argument in favor of nuclear energy. Being understood, said the Prime Minister, that "safety is the top priority." The end of a busy year on the last record. Six months after the disaster of Fukushima, Japan, EDF must provide a copy within two weeks of testing the resistance of French power stations.
ASN will then evaluate, by December, the information on the resistance of plants to earthquakes and extreme flooding.Asked about the failure to take into account the risk of terrorism in these tests, François Fillon acknowledged that the current plants – unlike the EPR reactor being built in Flamanville – would not survive the fall of a "jumbo" in the case of an attack like September 11, 2001 but that there are "other means than concrete" to counter an air attack, referring to anti-aircraft missile batteries and fighter on permanent alert. The prime minister also responded to a question about the resistance of the Flamanville earthquakes, following the information published in Le Canard chains."No need to read Le Canard chains, he said, all information is on the website of the Nuclear Safety Authority" (ASN) has called, playing the role of "sting", a better resistance of building control fast payday loan.
Besson favor of "stress tests"
The Prime Minister also called for the establishment of international safety standards. A goal that will not be met "for years" according to Andre-Claude Lacoste, President of the ASN, because of the hostility of countries like China, India and the United States. Eric Besson, Minister of Industry, will defend to the IAEA in Vienna, September 19, the idea to conduct stress tests in all nuclear countries. Pending the possible orders of the nuclear policeman at the end of the year, EDF provides better security of its power at all times.Example, during the four months off during the revision of the number 5 reactor Bugey, pre-authorization for an extension of ten years, 25 million euros is being invested to enhance its resistance to earthquakes.
Security has its price. Henri Proglio, the chairman of EDF, has also invoked July 29 to assert that it would be "natural" that the price at which EDF has to sell part of its current competitors (price Arenh) increases until to 46 euros per megawatt hour, while the authorities have set at 42 euros on 1 January 2012.
Responding to the BBC on this, François Fillon said "common sense" the current level of Arenh but added that more security funding for renewable energy made inevitable the rise in electricity prices. In government, he added, to control it as much as possible.
The whole world is seeking to reassure the world's largest investor, China. And France is no exception. On the way to New Caledonia where it is present at the opening of the Pacific Games, Nicolas Sarkozy made a stop today in Beijing. Announced only last Sunday – but planned for a month, provides the Elysee – the four-hour whirlwind tour of the French president is primarily to provide assurance to the leaders of the second world economy, while Europe and the United States face a debt crisis without precedent. The head of state is dinner tonight with his Chinese counterpart, Hu Jintao, in Beijing. "In the current context and a little over two months of the G20 summit in Cannes in November, it is not difficult to guess the subjects they will address," said one diplomatic source. Clearly, it will issue debt and G20.
Signs of nervousness
Beijing, which has invested since last year in debt Greek, Portuguese, Spanish and Hungarian, in general, shows a certain confidence in its accounts receivable. But this week, several signs of nervousness sweating in the corridors of power. "The debt crisis has slowly spread, like the black plague in the fourteenth century, from Greece to the peripheral countries of the European Union such as Ireland and Italy," wrote the beginning and Zhang Zhixiang week and Zhang Chao, two economists recognized, in an editorial in the very official People's Daily paydayloans.
The next day, a long interview with German magazine Der Spiegel gave the floor to the Deputy Minister of Foreign Affairs, Fu Ying, who did not hesitate to scold Europe "vain.""If you do not gather to solve these problems, the euro could collapse," and estimated the diplomat, who acknowledged that China also suffers financial crisis.
Nicolas Sarkozy's visit comes two days after the departure of Joe Biden, U.S. Vice President, came in person to allay Chinese concerns about the devaluation of U.S. assets. "We need to address our deficit and we will address this," said the American number two on the last day of his visit.
Nicolas Sarkozy, who chairs the G20 this year, should also benefit from meeting with Chinese President to push the issues close to his heart, such as reducing trade imbalances and the controversial idea, defended by the Franco- German, a tax on financial transactions.The Minister of Economy and Finance, Baroin, must also be part of travel and extend the discussions preparatory to the G20 in the day tomorrow.
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The financial strength seems clear on the business side rather than states. Illustration of the disastrous state of American finances, the new number one smartphone, Apple has nearly $ 76 billion in cash and U.S. 73 billion. This represents what the world's largest economy may still spend before reaching the limit of the debt secured by the U.S. Congress (14.294 billion U.S. dollars).
Apple has just completed a record quarter with increases of 125% in profit and 82% of its revenues.With a market capitalization of $ 362 billion, the group "at the apple" appears as the second wealthiest company in the world stock market behind Exxon Mobil and its 395 billion market capitalization.
While Republicans and Democrats are torn in several weeks on the issue of debt, U.S. companies their bets. "One reason why companies put so much money aside is that they want to shelter financially cope with financial uncertainties in the U.S.," said Laurie Simon Hodrick, professor at Columbia University . He added: "As long as the threat of default by the U.S. government continues, U.S. companies will have to pay any interest that way." The war chest of U.S. companies is estimated at 1.2 trillion dollars.
CEO of TF1, Nonce Paolini, on Tuesday morning could formalize its proposed application to the Higher Audiovisual Council to bring to its free streaming news channel, LCI. But even before this request may be made, TF1 is already under the spotlight.
The subsidiary of the Bouygues group has indeed provided a strong rebound in net income increased 60% in first half year on year, to 118.6 million euros. As for further cost reductions, the television group posted a net increase in operating income over one year, 78.6% to 186.5 million euros. The cost of the grid of the TF1 channel has in fact declined by 482.6 million euros to 423.6 million. Good performance hailed by investors since the title was climbing to 11 hours of 6.80% to 13.59 euros, the largest increase in the SBF 120.One of its main competitors, M6, which must also publish its results on Tuesday but after-hours trading, climbing from 0.77% to 15.74 euros. Meanwhile, the Cac 40 was down 0.57%.
This policy of cost reductions initiated since 2008 had been welcomed on Friday by the U.S. rating agency, Standard & Poor's, which had raised a notch note of the group, believing that these savings would result in a better rentatibilité. The TF1 group has recorded a marked improvement in its operating margin, which has doubled in a year to reach 18 cash advance in one hour.8%."These statistics confirm, quarter after quarter, the effectiveness of measures taken to change positively the economic model of the group" welcomed the television group, which has however avoided giving details of its profitability target medium term.
Lack of visibility
In contrast, sales of the TF1 Group, which owns the Eurosport channel, TMC or LCI, fell slightly from 0.5% to about 1.3 billion euros. "Unlike last year, TF1 did not broadcast major sporting events (like World Cup soccer)," the statement said. But the group is satisfied with a return to growth in advertising revenues in the second quarter (+0.7%) after a decline of 2.6% over the first three months of the year. Of all the activities, the advertising revenue shows an increase of 4.7% to 905.2 million euros."The group remains more than ever mobilized to consolidate its leading position in the field of information and entertainment on the TV market and / or free," says TF1.
This slight decline in sales, however, makes the television group cautious about the stability of the whole of 2011. It evokes a persistent lack of visibility on the changing conditions.
The Alibaba China could become a major player in the field of operating systems for mobile phones just as Android, IOS, or WP7. In fact, according to the Wall Street Journal, the Chinese e-commerce specialist, prepares to launch its own operating system (OS). But this new system has a particularity: it is based on the cloud, literally the "cloud computing". In other words, this new system will store the user data on remote servers. Such OS therefore requires a connection to broadband Internet in all circumstances.
This project should be launched in the third quarter of this year, said the American daily. Initially, the system should be accessible only to the Chinese market but "nothing says it will not be used elsewhere after," said a source familiar with the journal.
This launch marks another milestone for Alibaba, more used to make software and especially shopping sites online. Like him, more and more companies are trying to afford the lion's share in the growth market of smartphones. Another Chinese, Baidu, Google's competitor frontal China would launch its own OS for the Chinese market, based on the technology of Google Android. If these Chinese projects are completed, Apple, with its own system IOS, Microsoft Windows 7 Phone and Google, which has the Android operating system, could see their global market dominance eroded.