News – Business & Economi

Altran Thursday confirmed a large increase in operating margin for 2011 following growth of 7.2% of its turnover for the year, and said he was "reasonably confident" in 2012 despite ; economic uncertainties.

Sales of specialist technology consulting totaled 1,419.5 million euros last year, growing "economy" of 8.1% (on a comparable basis excluding the impact of exchange and changes in working days).

This publication dope title to the Paris Bourse, where the action is gaining 4.18% to 3.96 euros, shoulder to shoulder with Plastic Omnium top of the largest increases in the SBF 120 (+ 0.35%). 

"We are convinced and seduced by the strategy and decisions implemented by the new management group," says a note in CM-CIC Securities, the purchase value.

"Certainly, the current should not favor the rapid improvement of the fundamentals of Altran, but we believe that the work done by the new CEO of the group should begin to bear fruit in 2013, both in terms of operating performance and cash as corporate culture, "said the intermediary.

The fourth quarter alone, sales of Altran amounted to 370.6 million euros, increasing by 6% and an "economic growth" of 8, 6%. 

"Despite an uncertain macroeconomic environment, the Group is reasonably confident for 2012," he said in a statement its CEO, Philippe Salle.

Philippe Salle had told Reuters in October Altran, a deficit in 2010 would remain negative in 2011 but would profit in 2012.

A week after announcing falsely lowered the AAA rating of France, the Standard & Poor's has again committed a blunder Thursday when the publication of the new rating improved from Brazil.

In the title of his release, the U.S. initially said he found the note of Brazil to BBB-by the prompt correction. And for good reason, the note of Brazil was already at BBB-and the agency has in fact raised by one notch to BBB.

The world's second largest home appliances Electrolux said Friday he would seek to further reduce its costs, adding an expected decline in demand in its key markets after announcing a drop in quarterly profit.

The group, which owns the brands Electrolux, AEG and Frigidaire, anticipating the year a decline in demand for appliances in Europe of around 1%, not a 1% increase as expected before.

It also expects that the demand in North America fell by 4-5%, against an increase of 3% previously expected.

The group reported a third quarter adjusted operating income of 1.10 billion kronor (122 million) against 1.98 billion a year earlier.

The Reuters gave 1.06 billion crowns.

"Demand has fallen in several major markets (…) southern Europe and the United States, when the cost of raw materials has increased," said its chief executive Keith McLoughlin.

"The third quarter results were affected by the continuing difficult market conditions."

Electrolux said in a statement it would continue to seek to optimize the use of production capacity in North America and Western Europe and also reduce overhead costs.

The next summit of the euro zone is not enough to permanently resolve the debt crisis, warned Friday German Chancellor Angela Merkel.

"There is no single solution, there is no solution 'big bang'," she told the annual conference of the German trade union IG Metall in Karlsruhe.

She added that a discount on the debt of Greece was not a panacea either.

Angela Merkel also reiterated his skepticism about the effectiveness of any "Eurobonds".

"They do not constitute a panacea," she said, holding that "the current situation, they would not help."

The deficit in Social Security should be reduced to 14 billion euros in 2012 due to the impact of pension reform and new conservation measures planned for the health branch, said Thursday Valérie Pécresse, the Minister of Budget .

The government on Thursday to present the draft law on financing of Social Security (PLFSS) 2012.

In June, the Commission on Social Security accounts were reduced to 19.5 billion euros deficit in its forecast for this year.

"Our forecast for 2012 is 14 billion deficit.Fourteen billion euros when it was scheduled for 2015, so we have two years ahead, more than two years ahead, "said Valerie Pécresse on France 2.

"For the health sector, the deficit will be less than six billion euros, while we were at 12 billion in 2010," she said.

She said the announced reduction of the deficit by increased revenues related to pension reform and a halving of the deficit of sickness, thanks in part to new savings measures.

This savings plan should include new delisting for about 40 million euros and 600 million in savings on drug prices through price reductions negotiated with pharmaceutical companies.

Representatives of small and medium sized French companies remain alert to changes in credit conditions, they warned Tuesday after a meeting with banks Tuesday to the Ministry of Economy.

The fear of a credit crunch, a danger often referred to as the English "credit crunch" has increased in recent days against a backdrop of falling bank stocks on the stock market and worsening crisis of sovereign debt.

"We are very vigilant," he told Reuters Etienne Bernard, chairman of SOHO-SME-ETI MEDEF, the French employers' organization first.

"In early September, we find, by clear feedback from the field, as banks ask lots of questions" for entrepreneurs, including their need or not unused credit lines, he added. "This questioning creates some anxiety."

Indicators presented by the Bank of France show a healthy distribution of credit, at least until July. But more recent data are not yet available.

"An annual growth of credit to SMEs beyond 4.8% was recorded in July," the Ministry of Economy in a statement."During this period, compared with the rest of the euro area, growth in credit to all businesses in France is much more dynamic (+4.5% against +1.6%)."

At the meeting, the Secretary of State for Small Business, "Frederic Lefebvre asked the representatives of banks to the financing of small and micro businesses a top priority," the statement said.

French Banking Federation (FBF) has ensured that banks were heavily involved with businesses.

"French banks have confirmed that they were doing their outreach, especially for SOHO / SME, a priority.They are determined to continue to provide funding for the economy as they have always done, "says the FBF in a statement.

The professional craft Union (UPA) has meanwhile welcomed the government intervention "to prevent a drying up of credit in small amounts."

She said in a statement that "loans of small amounts, often less than 25,000 euros, are the fuel companies."

"Remove that access to credit would sacrifice many companies on the altar of the crisis. A suicidal act when we know that crafts and local shops are among the sectors that have best weathered the crisis of 2008 and who saved many jobs, "continues the UPA.

Obama says he wants to put 447 billion dollars on the table for the fight against unemployment. Will he able to implement its plan? The proposed measures can they walk? Uncertainties abound. Barack Obama October 31, 2010.

Unemployment remains stuck above 9% in popularity to the lowest since his election … For Barack Obama, the fight for employment is the decisive battle of the last years of his term. He then presented a plan Thursday, the American Jobs Act, which promises to spend 447 billion dollars, 300 billion euros, to create and maintain jobs. And despite a budget deficit and a debt of a magnitude abysmal. Is a financial effort of the same level as the Stimulus Plan of 2009.It was 787 billion over two years while the effects of the new plan should focus on 2012.

Mark Zandi, chief economist at Moody's Analytics, quoted by Bloomberg as he believes could have a greater macroeconomic impact. Additional growth is estimated to be 2 percentage points and a one-point drop in the unemployment rate … provided it is fully implemented. For the first unknown of this plan is whether it will be voted on by the Republicans who have displayed more hostility. Aware of the political balance of power, Barack Obama has also favored measures likely to receive support, as this is tax cuts.He also insisted that Republicans had proposed similar measures.

Priority to the reduction of social charges

Obama can talk about his plan as a shock, its revenues have nothing very original. More than half of the plan – $ 240 billion – be used to offset reductions in payroll taxes owed to Social Security.

Employees could then see their 2012 employee contribution rates to 3.1% instead of the already improved rate of 4.2% they receive until the end of the year. Knowing that the standard rate of 6.2%. The objective here is to stimulate activity through consumption by giving purchasing power to them.The problem is that Americans are heavily indebted and some economists fear that some of this money ($ 175 billion, averaging $ 1,500 per family) rather don not in bank vaults in stores .

Companies are not forgotten. Obama breaks new ground even in the matter by proposing to cut the same way the employer contribution rate by half to 3.1%. A reduction that would apply within the first 5 million in payroll to benefit small first. All for a $ 65 billion.

Last "gift", also for companies: a total exemption from social security in case of creation of positions or salary increases. And within the limits of an increase of $ 50 million in payroll.So this is a direct incentive to job creation or wage increases (5 billion).

In total, the White House believes that such measures could create 50,000 jobs per month. Or 600,000 over the year 2012. That compares with the average loss of 35,000 jobs per month in the last quarter. But the New York Times also points out that companies must be able to offer more than 100,000 jobs each month just to cope with population growth

New aid to the unemployed

Here the opposition of Republican likely to be greatest. The White House wants to implement because it boasts as "the most innovative reform of unemployment insurance for 40 years."It aims to maintain the payment of allowances for part-time employees, trainees or unemployed entrepreneurs and set up a special tax credit for hiring long-term unemployed. Added to a fund to finance initiatives for the return to work in the direction of the unskilled and disadvantaged.

$ 140 billion of public investment

These measures Keynesian will involve upgrading transport infrastructure to the tune of $ 50 billion, and the creation of a National Infrastructure Bank. Obama hopes to win in each case the support of elected Republicans who have requested by a line of railway, is a bridge …A strong emphasis on education with the project to upgrade at least 35,000 public schools (30 billion) and freeze up to 280,000 job cuts for teachers, police and fire (at a cost of 35 billion). Not sure that this component easily passes the Cape of Congress.

Finally, two obstacles remain to the effectiveness of the plan of Obama. The funding, first. The U.S. president said he would be fully resolved in the process of reducing the long-term debt of some 1.5 trillion dollars. Task that was entrusted to a bipartisan committee that must report its findings in November. Barack Obama has promised to unveil his own proposals September 19, in the matter.

Then, the American Jobs Act, even if passed in its entirety, is not the absolute anti-crisis weapon. Its effectiveness will depend upon the strength of the economy.Thus the decline of social enterprises, a key measure, may well be theoretically effective, it is not enough to convince an employer to hire if the demand is not there. But the latest indicators in this regard are contradictory. For if consumer spending rebounded in July, trust her, fell in August to its lowest level since November 2008.

It is "imperative" to implement the decisions taken by Heads of State and Government of the euro zone in July to resolve the debt crisis of the Greek said Monday Jean-Claude Trichet, president of the Central Bank (ECB).

European stock markets were down sharply again Monday because of growing doubts about the application of the support plan for Greece developed at the summit on 21 July.

"It is clear that we absolutely need an immediate and imperative that all these decisions are implemented immediately," said Jean-Claude Trichet at a conference of the Institut Montaigne, a "think tank" in Paris.

"One of the strongest recommendations," he said, "is to implement the most comprehensive and rigorous as possible, so no doubt, decisions which have been taken."

The plan of July 21, supposed to give the euro area financial and institutional resources that would enable it to avoid contagion Greek throughout the euro area, must, to come out, be ratified by parliament each of the signatory countries.

But the political obstacles to such ratification have multiplied in recent weeks.Finland wishes and its contribution to the plan is guaranteed by Greek and Athens, Slovakia, the vote of the parliament could only take place in December.

These uncertainties prevent an immediate strengthening of the financial resources of the European Financial Stability (EFSF), which must be able to buy government bonds to support countries in need.

"WE ARE HALFWAY"

Jean-Claude Trichet said more broadly in the global goal to increase "resilience" of individual entities, financial institutions, banks and financial system, "we are half way" .

"We see that we have made significant progress," he said, citing the progress made in the G20, the Financial Stability Forum and the Basel rules on capital III of financial institutions under discussion.

"All our experience leads us to believe that we must implement what was decided and certainly not think that could shake the hand, it would probably be the biggest mistake we can do," he said.

"There are still many things to do, particularly at the Basle Committee, the Financial Stability Forum and the G20 level, particularly with regard to systemic global institutions and national and non-banks."

Jean-Claude Trichet referred again to the slopes for the medium-and long-term European governance.

It is thus, in his opinion, possible to imagine the future that decisions are taken "from the center of the single market to single currency" when a country is unable to implement the recommendations persistent.

Even further in the future, it is possible to imagine the creation of a European confederation, with a confederal government, including a European Minister of Finance.

Jean-Claude Trichet on the other hand raised the issue "important" the need for continuing structural reforms in Europe to increase the growth potential of the continent, citing in particular the Lisbon agenda for growth.

European shares ended Thursday in a disorganized, caught between the temptation to take profits after three sessions of consecutive increase and the positive impact of a U.S. ISM index better than expected, which eased fears of an entry in recession.

However, investors prefer to remain cautious on the eve of the release of U.S. employment figures for the month of August, a critical indicator, including the decision of the Federal Reserve to support the economy.

The CAC 40 index closed up 0.28% to 3265.83 points after fluctuating in both directions.Between 19 and 31 August, the benchmark index in Paris gained almost 8%.

Other major European markets, London was up 0.45% and Milan took 0.69%, while Frankfurt lost 0.94%. The pan-European Euro Stoxx 50 index ended up on its side up 0.16%.

"At first reading, the figure of the ISM has reassured the markets. However, some components are still of concern. In all, the deterioration of the U.S. economy is not as strong as feared by consensus a very bearish," said Arnaud Cayla, managing director at Barclays Wealth Managers France."However, the activity remains fragile," he adds.

"The market now could still bet on further steps at the next monetary policy meeting of the Federal Reserve, a feeling reinforced by the expansion confirmed inflationary pressures," he says.

Defensive stocks supported the rating.Repsol has made 2.44% to 20.560 euros, Deutsche Telekom 2.19% to 8.999 euros and Sanofi 1.5% 51.420 euros.

European banks have ended on a note with an irregular European sector index up by 0.99%.

In Paris, Crédit Agricole (-2.08% to 6.679 euros) suffered the second largest drop in the CAC 40.

The euro lost ground, trading at 1.42989 / 90 dollars, against 1.4374 the previous day about the end of the day.

Illustration of investor caution, the yield on German government bonds to 10 years is down to about 2.14% against 2.22% over the closing Wednesday.

The Franco-German couple offer to suspend the structural funds to countries in the euro area does not reduce their deficits. Greece may well be deprived of more than 20 billion euros. The logo of the euro to the European Central Bank in Frankfurt.

French President Nicolas Sarkozy and German Chancellor Angela Merkel proposed Wednesday to suspend payment of structural funds and cohesion in the euro area countries unable to control their budget deficits. "In the future, payments from the Structural and Cohesion Funds should be suspended in the countries of the euro area that do not comply with the recommendations of the excessive deficit procedure," wrote the two heads of state in a letter to the President of the European Union, Herman Van Rompuy."These changes should be incorporated into new regulations for structural funds and cohesion that will be proposed for the next multiannual financial framework", ie from 2014, they continue in this letter, written at the end of the Franco German in Paris on Tuesday.

Created in the 1990s, the European Structural Funds are the main instrument of solidarity between Europeans but also for his detractors, a "bottomless pit" that engulfed wasted billions of euros. Three funds with a total of 347.4 billion euros for 2007-2013, allow the EU to grant financial aid to multiannual regional development traded between regions, Member States and Commission.The Cohesion Fund and the two structural funds, namely the European Regional Development Fund (ERDF) and the European Social Fund (ESF), over a third of the total budget of the EU.

Among the countries in the euro area, Portugal, Greece, Spain and Italy are among the first beneficiaries of these funds. Any part of Europe whose income (GDP) is less than 75% of the EU average is subsidized is an investment in the future. The European Commission, a total of 347 billion euros, or 35.7% of the total budget of the European Union, have been allocated for regional aid policy for the period 2007-2013, 49 billion per year.

The 27 EU states, the European Commission and European Parliament are engaged in difficult negotiations to secure the budget for the period 2014-2020 and the structural funds are in the sights of several European governments. Including Germany, which grows for several months, so far without success due to lack of consensus on the subject, so that structural funds are allocated under certain conditions. The Franco-German proposal follows the lead of Dutch Prime Minister Mark Rutte, who had pleaded Tuesday for sanctions against countries undisciplined budgetary matters.

If the Franco-German proposal was acted upon, the countries of the euro area with a high budget deficit as Portugal, Greece, Ireland and Italy could miss crucial European aid to improve of their infrastructure and regional development.For 2007-2013, Portugal has thus pocketing 21.5 billion euros from structural funds and cohesion, Greece 20.4 billion, Italy and Ireland 28.8 billion 901 million, according to Figures released by the Commission on its website.