Daily International Headlines

The U.S. stock markets ended in green on Thursday. Yet the economic indicators released today and Wednesday have cast doubt on the resumption of the Atlantic. At the close, the Dow Jones gained 0.42% at 10,612 points, its third session follow up, the Nasdaq climbed 0.4% to 2368 points and the S & P 500 was awarded also 0.4%, to 1,150 points.Bank stocks have supported the trend.

On Wednesday, the U.S. federal government announced after the close of Wall Street have posted a record budget deficit of 220.909 billion dollars in February, its seventeenth consecutive month in red.

Oil prices have ended almost stable Thursday in New York, a barrel is now just over 82 dollars in a market that struggled to stay on top of the range of prices for several weeks.

The Chinese inflation and employment were quickly forgotten

The downward trend in Thursday's early trading was due to the Chinese inflation, which fortementaugmenté. The index of consumer prices in China rose 2.7% yoy in February, bringing its rise since the beginning of the year at 2.1%.But to avoid a runaway, Beijing has already begun to tighten credit flowing.

Moreover, the decrease in the number of newly unemployed has proved somewhat less than expected last week, with 462,000 new registrations cons estimated 460,000.

The trade deficit the U.S. has in turn reduced in January. "Imports are growing at a slower pace than exports, reflecting a potentially slower economic activity," commented analysts at Briefing.com.

The rest of the week market in the United States will be under the sign consumer with the publication tomorrow of the sales details for the month of February and the preliminary estimate of consumer confidence.

General Motors will pay $ 8 billion

Thus, only large-cap U.S. stock market that brought the index to rise Thursday.On the Dow, only 6 values are listed in red.

Soaring, IBM climbed 1.57%, to 127.6 million. Microsoft has issued 0.752% to 29.2 million.

The banking stocks, especially regional, have supported the trend. Several banking executives gathered at a conference organized by Citi. Citigroup rose 5.56% to 4.18%. In total, since the beginning of the week, bank shares have surged by 18%!

On Thursday, the British oil company BP announced it would buy in the U.S. Devon Energy (0.46%, to 72.02 dollars) of assets for seven billion dollars in Brazil, Azerbaijan and in U.S. waters Gulf of Mexico.

General Motors will pay about $ 8 billion in the United States and Canada by June, ahead of schedule.The group observed a recovery in profitability faster than expected according to its director general.

Google (0.81% to 581.13 U.S. dollars) has already enjoyed a presentation by Cisco (0.34%, to 25.96 dollars) in its new router, it will provide increased flows to households, a key element for the activity distribution of video on the web from Google.

McDonald's announced earlier this week that its worldwide sales rose 4.8% in February with a jump of 10.5% in Asia, has seen its shares rise 0.37% to 65.18 dollars.

Operation siphoning. Emirates, Etihad and Qatar Airways increasing flights to Europe. Their goal? Bringing their clients to their hubs in Dubai, Abu Dhabi and Doha, before sending them to distant destinations, more and more numerous.

Emirates has increased its frequency this year in Nice and open lines on Amsterdam, Madrid and Prague, Qatar Airways has launched Barcelona and has strengthened Paris, Athens and Madrid; Ethiad has multiplied its rotations on Dublin, Frankfurt and Athens.

Meanwhile, 12 new international destinations outside Europe appeared in the list of three companies of the Gulf, including Tokyo, Seoul, Melbourne, Goa and Bangalore.To go to Japan, a client of Lufthansa or Air France has a choice between going through Paris or Frankfurt and transit through Dubai or Abu Dhabi.

In this battle, Gulf companies have strong points to make: their hubs have the best possible geographical position between the U.S. and Asia, and have unit costs of staff 50% lower than those of Air France, Lufthansa and British Airways. "They also have a very good product recognizes a part of an EU airline. They all have strengths to further participate in industry growth than we are. "

Orders for Airbus A380 should also provide them with an armada of large aircraft instant payday loan .While Air France and Lufthansa 27 total orders for the new jumbo Airbus, the three companies in the Gulf will eventually 72.

Competitors very annoying

The subject is considered sensitive by European airlines. It has even been mentioned before Tuesday elected staff at the surveillance committee of the CCE Air France. Lufthansa said that its offer seat on intercontinental flights the group should grow by 4% from 2009 to 2012, against 12% for companies in the Gulf.

These competitors are now considered more annoying than low-costs addressing some profitable lines. This time, it is a battle between European airports to those in the Gulf."For now, we have a better mesh of Europe they, believes the framework of an EU airline, but they are very difficult to prevent, where they arrive."

This competition, hitherto confined to flights to Asia and the United States extends to Africa, far backyard of Air France and Lufthansa. Emirates already offers 16 destinations in Africa, 7 Etihad and Qatar Airways 13. "Gulf companies are even more threatening than their owners are not obsessed with profitability, said a European competitor. They invest a lot and are a showcase for the UAE. "

The meeting had yet begun in a friendly atmosphere, around a few cakes of kings. Tuesday morning, the eighth floor of the MEDEF, after an hour of quiet trade on the carbon tax and social negotiations, the clash occurred without anyone waiting on the highly technical issue tenders Association fund management integration of persons with disabilities. Clash between the two numbers 2 "tie" of the organization, Jean-Charles Simon and Helen Molinari, whose disagreement was notorious. For some, Jean-Charles Simon had treated Helen Molinari of "idiot" and "incompetent" before slamming the door. The person himself, swears that he kept his composure. "I said what she said was false then I left the meeting," he promises, that confirms a witness.

What does not yet know the participants is that they will never again see Jean-Charles Simon.For him, this incident is the straw that broke a vase too full for several weeks. The evidence was that Laurence Parisot, despite assurances that he swears that he obtained in December, no desire to change the allocation of tasks with Helen Molinari. Back down in his office, he sends his resignation by email to the president of MEDEF, asking not to his notice three months, and leaves the building. Definitely. This email, Laurence Parisot discovered in the early afternoon and will act without a call to his ex-delegate-general to understand the decision or seek to hold him.

Things might have stayed there and the MEDEF, after the resignation proved by Le Figaro, could minimize the event. But Wednesday morning, the machine goes.In a statement to AFP, Jean-Charles Simon recalls failures "in decision-making and organizational roles, ranging up to criticize" the professionalism of the leadership "of MEDEF. The employers' organization responds by accusing him, in a statement at your unusually steep "having conducted his own end after a spectacular incident," and provides "support to internal teams Medef that have been proven these unusual methods. " The break was complete.

Denis Kessler Photo credits: Le Figaro

L'Oréal is continuing its offensive to win the American hairdressers. The French group has just acquired two distributors of hair care products in the United States, Maly's Midwest and Marshall Salon Services, which carry a combined turnover of 130 million and provide 40,000 salons in the Midwest. These acquisitions bring to 80% coverage direct from the U.S. market by the firm, against 50% previously. They represent a continuation of the strategy number one global cosmetics to distribute his own professional products on the market, which weighed about 60 billion dollars (sales salons and spas in the U.S.).

Three years ago that L'Oreal has decided to take matters into their hands. In 2007 and 2008, he had already acquired Beauty Alliance, Maly's West and Columbia Supply to sell products directly to its range of L'Oréal Professional, Kerastase, Matrix and Redken.Objective: To monitor more closely a key market, which weighs one third of global sales of its professional division. This allows the giant of French industry in managing direct without intermediaries, thus controlling its margins at each stage of struggle against the flow of counterfeit goods, a widespread scourge in the United States and, especially, to develop direct relations with hairdressers.

Ensure fidelity of hairdressers is indeed a prerequisite for selling its products on the market very battle. Its subsidiary specializing SalonCentric Florida-based approach one by one the shows and their "designers" as they call them across the Atlantic. Specificity local hairdressers are in fact often self-employed who rent a chair in a salon. It is therefore necessary to convince individuals to use the group's products, while their neighbor salon can procure from a competitor."L'Oreal was founded more than a hundred years to serve and inspire the professional hair salons around the world," said Paul Sharnsky, President SalonCentric. This strategy should enable the French group to increase the efficiency of its business in the United States, where sales dropped by over 6% in 2008.

After a 2008 black, stock markets around the world experienced in 2009 a substantial rebound in the light of an economy still recovering. In Europe, the Dax in Frankfurt rose 23% to 5957.43 points December 31, while the FTSE in London was granted 22.07%, to end the year at 5412.88 points. The squares of Brussels (+ 31%) and Madrid (+ 30%) did even better, while the Swiss market shows an increase of 18.27% and the Milan Stock Exchange rose from 13.28%.

A second half of 2010 uncertain

In Asia, equity indices recorded spectacular gains. Shanghai has taken over 80% in one year, and Hong Kong has offered an increase of 52%.Even in Japan, where the structural problems persist, the Nikkei index Featured jumped 19.04% in 2009, to reach 10,546.44 points at the end of the year.

Across the Atlantic, the Dow Jones rose over the year to 18.82% and the Nasdaq composite jumped 43.89%.

According to the main house management, year 2010 should be characterized by a sustained increase in equity markets in developed countries during the first half of the year. The interest rates of central banks and European American should not be raised before next fall or later, consider including Axa IM, Pictet and Aurel BCG.

Then, visibility fading. The recovery plans, adding to public debt, will sooner or later disappear, and allow growth to take charge alone.

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Surprise drop in industrial production in October. It fell again by 0.8% after falling 1.2% in September. From his side, manufacturing production also decreases by 0.8% after declining 1.1% in September. Despite everything, the good performance observed in August saved the furniture: over the last three months, manufacturing output rose 2.6%. Over this period it has observed a strong rebound in metal and other metal products (+7.4%) and in automobiles (+14.1%). It has also increased in the manufacture of rubber products, plastic and other nonmetallic mineral products (+4.1%), manufacture of machinery and chemicals (4%).

However, through the last two months, rather bearish, suggesting that the destocking process finds no link with a recovery in demand.In addition, manufacturing output last three months is 10.4% lower production in the same month last year, which is hardly pleasing. "The truth is that no demand: our exports, especially to our neighbors in the European Union, are crumbling and the investment in the country continues to decline" Analysis and Alexander Law.

The situation in the automotive sector and is symptomatic. Despite a sharp increase in registrations due to the scrapping bonus, production slowed significantly in September in October, with a 5% drop in production in October, itself resulting from a fall of 8.1% in September. After a period of destocking, manufacturers are reluctant to turn back to their full production lines, especially with the planned termination of premiums.

Anticipated for weeks as a potential investor in the world's number three container shipping, the Strategic Investment Fund (ISF) had remained silent about its real intentions. The team installed the TFB have advanced in their thinking. "Investing in CMA CGM enters our mission," says one to the ISP. While specifying a timetable: "We will file a second time when the company has restructured its debt." There is no question that the public fund to intervene in the negotiations currently taking place.

The ISP also said it will invest "alongside other investors. The process of at-gmentation capital has been committed, but he is preparing. Already several investors have expressed interest. The Louis Dreyfus Group is ready to review the case.But is the financial side of the expressions of interest are most numerous. Apart from the ISP, Goldman Sachs, Butler Capital and Apollo funds are on track.

Largest private employer in Marseille

Jacques Saade, chief founder of CMA CGM, has suggested that the capital increase would be about 300 to 400 million dollars. The ISP does not comment on that amount but said that the lump sum will depend on "the business plan and successful debt restructuring.

The financial support announced the ISP is a strong political signal. It aims to inform the State will play its role to prevent the fall of this group with strategic issues. It is a large group of global maritime trade and the largest private employer in Marseille.CMA CGM is also an actor who plays a key role in the French port activity, strong competition from major ports in the North and the Mediterranean, including Barcelona.

Expected to help the ISP comes as very complex negotiations between creditors, the Saade family, and the government regarding the debt were held Thursday morning at Bercy.

In reality, the parties will simultaneously run a dual operation. This is firstly to allow the ocean carrier to meet its deadlines financial year end. An injection of new money is necessary. Creditors, sixty banks are naturally sought.

The negotiations are tight. The possible aid would be accompanied by the establishment of a new manager operational very quickly, even before the completion of the capital increase.In this scenario, Jacques Saade, current chairman of the board, could become chairman of the supervisory board or become chairman of the board if the governance structure is changed.

Meanwhile, negotiations have focused on restructuring the debt estimated at 5.6 billion dollars. The objective of the parties is able to determine the amount of debt, primarily the purchase of boats that can carry the group based on the level of activity expected in the short and medium term CMA CGM.

From there, the creditors will negotiate mechanisms to reduce this debt: the abandonment of a portion of the debt, a conversion of debt into shares or deferred interest payments. This restructuring is a very difficult operation.It must indeed convince many creditors, including Korean banks to review their commitments.

CMA CGM has to clarify the pattern selected and the terms of the financial restructuring December 15 at a works group. The deadlines are tight.

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The day on Tuesday a busy one on the social front, unions of Post and teaching have both called for a national day of mobilization Tuesday, November 24.

On Monday, several unions of Post and National Collective cons of privatization of the Post Office hold a press conference near the Elysee Palace before going there with the intention to meet with Nicolas Sarkozy and to deliver the leaves of 'annotating the "citizen referendum" held last month with the participation of 2.3 million people against privatization, according to figures from the collective.

On Tuesday, five unions at La Poste (CGT, Sud, CFDT, FOR and CFTC) to call a strike against the change of status and opening up capital of the company public, threatening to organize a national event "in the week of December 13, "if the government persisted in its goal to pass" the bill for this reform.