Daily International Headlines

After a year and a half of silence, Societe Generale will speak again in advertising. The second French bank wants to finally turn the page of the Kerviel affair and the subprime crisis that has battered its image. The first film of its new campaign will air Saturday's match of the RBS Six Nations France-Wales.

Societe Generale, the French rugby sponsor since 1987, could not ask for a better opportunity. In a one-minute spot-a term seldom, the bank is particularly directed rugby players sweating out victorious from the fray. But also a small business owner who is negotiating on the phone an extension of credit that he finally won, raising the enthusiasm of his troops. Or a father and his wife, who just opened a letter with relief from their bank.The film ends with the signature "set us develop team spirit."

"Like all banks, we wondered how to get an image of arrogance incarnate to communicate more customer-centric," said Caroline Guillaumin, communications director of Societe Generale. Within a few months, all banks have phosphorus on the post-banking crisis. Although communicating correctly point out that the image of the banking sector as a whole has suffered more than the individual banks, all are at the helm.

Earlier that Societe Generale, last December, BNP Paribas has refocused its advertising on "real people": true advisors and real customers are the only actors in its advertising. "Before, we showed that we were cool, now we show that we are involved," says Antoine Sire, director of communications for BNP Paribas.For the first French bank, emerged strengthened from the crisis, the issue was less sensitive than the Company for general or group BPCE (merger of Caisse d'Epargne and Banque Populaire), including corporate banking and investment Natixis has been widely associated with the crisis in toxic assets. Both banks have also been concerned to address both the general public and their employees.

Total Out

Complete break with the saga of the squirrel, which lasted for ten years, the Savings Bank has also revised its copy. The tone is serious, the universe hypersobre. On white and color photos without the mutual bank wants to "write a new page of the paper bank." White is in fact also very present in the visuals of the new campaign press Societe Generale.You feel the desire to rebuild their virginity.

All these policy changes have been accompanied by a waltz communications agencies. If BNP Paribas has remained faithful to Publicis Conseil, Societe Generale has left Saatchi & Saatchi for the independent teaches Fred & Farid and the Savings Bank has grown from BDDP Ogilvy & Son, a subsidiary of TBWA (Omnicom). People's Bank, which has renewed its confidence in Euro RSCG C & O (Havas), will unveil his new campaign in June. As for Credit Agricole, first advertiser in the sector, he also put into play its advertising budget. He hesitates between DDB Paris (Omnicom), Leg and Providence, the latter two agencies are subsidiaries of Havas.

NetJets Inc., the leader in private aviation, has signed a firm order for 50 giant Bombardier business aircraft and taken options on another 70 aircraft. If these options are exercised, then this will be a historic contract, the largest volume and value ever signed in the aviation business. The firm order is valued at $ 2.8 billion and 6.7 billion dollars with options.

In detail, the contract is for delivery from late 2012 to 30 aircraft at long range Vision Global 5000 and Global Express XRS and, from 2017, 20 Global 7000 and 8000, the last born in the range of Canadian aircraft manufacturer.These high-end devices are able to rally New York to Moscow and Tokyo nonstop at a speed of 0.85 Mach with an average on board between 8 and 12 passengers.

The contract signed by NetJets Inc., the American branch of the company, "is a compact group," which also relates to NetJets Europe, its European sister. This command is also complementary to another giant contract, passed in 2006, NetJets Europe, with Dassault Aviation for 24 Falcon 7X $ 1.1 billion. The 7X business jet is an upscale, very long range (more than 11,000 km non-stop) which flies at Mach 0.85 with on board between 12 and 16 passengers. The two branches of the company controlled by Berkshire Hathaway's NetJets, the holding company of Warren Buffett, broaden their upscale offer to their client. In Europe, NetJets is the largest fleet operator of 7X and partner manufacturer Dassault *.

Positive signal for the market

This command sends a huge positive signal to the market for business aviation. NetJets displays his confidence in a rebound even if he believes that 2011 will be another difficult year payday loan. "But when we take possession of our new equipment, we are ready to meet demand," said David L. Sokol, CEO of NetJets. "This order proves that the market off again," says one well at Dassault Aviation.

In its latest long-term study, Bombardier appears optimistic about market prospects. Over the period 2010-2029, 26,000 devices (small Bizjet to the most sophisticated equipment) should be shipped worldwide for 661 billion dollars. The current decade should, alone save 10,500 deliveries for 254 billion dollars.The rise of emerging markets, increased globalization of trade liberalization in China as the sky for airplanes and helicopters and business demand in the replacement market as well as new programs are playing a pioneering role.

For now, however, the market is now stabilizing after a year 2010 marked a decline of 12.3% of shipments compared to 2009, to 763 aircraft worldwide. This is the third consecutive decline registered by business aviation. "However we record signs of recovery. We are now seeing strong growth in world GDP and corporate profits are rising. This bodes well for the future of general aviation, "said John Rosanvallon late February, CEO of Dassault Falcon on behalf of GAMA (the association of manufacturers of general aviation) which he chairs."In business aviation, there is always a lag between economic recovery and its positive effects on income," says Bombardier on its side.

* Dassault owns Le Figaro

The roles are now clearly distributed at France Telecom. The board of directors of the group, which met on Wednesday, comes without surprise to formalize the appointment of Stephane Richard as CEO of the group. One who is currently general manager's title will change on 1 March.

The challenge was to find out what would become Didier Lombard. Ousted in March 2010 after a wave of suicide, it was announced to the press last week's early departure as president. The Board took note of this decision and decided to appoint "special adviser Stephen Richard on strategic direction and technology vision," according to a statement.

By this choice, the board wanted to honor the results obtained by Didier Lombard since his appointment as CEO in 2005."Didier Lombard has made the France Telecom-Orange, a leading global operators, both in terms of technology as financial strength. It was also the precursor model of convergence between different networks and digital terminals, "said Council welcomed the passage" the transition process that copy was taken by two officers of the group. "

No details on compensation

The hot topic of severance payments Didier Lombard was not mentioned in the statement. However, internal sources evoked before meeting its retention as an employee of the group in order to delay the payment of his retirement benefits, commensurate with his duties as Chairman of the Board of Directors.These same sources estimated that it could receive a pension cap of 300,000 euros per year.

In announcing Feb. 11 that he was leaving office before his term set to June, Didier Lombard was also indicated that it would not receive "severance under these circumstances."

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Suspected cyber focus again on China. At least five multinational sector hydocarbures were victims of assaults coordinated, conducted by hackers from the Chinese cities revealed Thursday the U.S. security specialist McAfee. Several gigabytes of confidential documents on bidding for contracts to drill and industrial equipment were stolen. Alerted, the FBI launched an investigation, says the Financial Times.

According to the work of McAfee, which did not specify the names of companies mentioned, these attacks have been ongoing for at least two years and are still ongoing.By combining several techniques for intrusion, hackers managed to penetrate the computer systems of their targets, then go back to the positions of officers in order to download email archives and other sensitive data.

"Worker bees"

The attackers did not try to delete their tracks, says McAfee. One of them, which provided tools to remotely control the hijacked servers, acted from the city of Heze in Shandong Province, while the data downloads were launched from IP addresses in Beijing at office hours. "These people are more like worker bees that hackers love freedom," said Dmitri Alperovicth, vice president of McAfee responsible for research on cyber threats.

The admission of McAfee, this type of attack is "relatively unsophisticated."It is not at the offensive launched against Google and other American companies in December 2009, when Chinese hackers were already under investigation. He did not have the sophistication of computer virus Stuxnet, which has targeted Iran's nuclear infrastructure. He was spying, rather than sabotage. There is no indication that piracy has been orchestrated by a State.

This new offensive, dubbed "Night Dragon" ("Night Dragon") by McAfee, illustrates the recent evolution of computer hacking. The security experts who are used to warn about the risks of viruses, spam and phishing, is now competing revelations about targeted intrusions and spectacular. These attacks do not directly affect most ordinary users, but governments and companies, which are also their customers.

CGT denies early departure of Bernard Thibault, announced Thursday morning by Le Parisien – Aujourd'hui en France. The newspaper believed that "tired", the CGT leader since 1999 has decided to leave the ship. "I'm leaving at the end of the year, so that my successor is in place before the presidential elections," reported Thursday morning in the daily framework of the CGT, remarks which were held on December 21 and 22 last to his closest collaborators. Allegations that the secretary general of the CGT was "very clear denial" on Thursday, denouncing "an attempt at destabilization."

"For the future of the CGT and its leadership, we will proceed when the time comes – and it's not yet the case – according to our usual procedures in a collective framework," to elect a successor at he said in a statement.

The assumption of an imminent departure of Bernard Thibault of the CGT leadership is often mentioned yet. Since his re-election to Congress in Nantes comfortable, difficulties have indeed accumulated to the charismatic leader. The failure of the struggle against the pension reform first, opened the way for a reconsideration of the reformist strategy adopted under his leadership over the past ten years. Some federations have seen the failure of a desire to refocus the CGT and make a union of contestation and negotiation payday advance. The recent decline in the weight of the union in some of its strongholds, such as RATP, EDF, GDF or the Post Office, has been interpreted by opponents as a validation of this hypothesis. By boycotting the beginning of January the wishes of the social partners Nicolas Sarkozy, Bernard Thibault would have liked to correct the situation by hardening his speech.

A three-year term

But other factors may also contribute to an early departure next leader of the CGT. Internally, Bernard Thibault is accused of abandoning the organization. A peak for the CGT: the staff, who complain the level of wages and working conditions, is in open war against management. "Every unhappy tumble in his office. This is evidence of dysfunction of the house, "said one observer Parisien-Aujourd'hui en France. Bernard Thibault, meanwhile, evokes "a fatasme" to destabilize the CGT "after the exceptional action over pensions.

To these difficulties must be added the threats against himself and his family have suffered in recent years. The pig's head stabbed in front of his door and other malicious acts would eventually affect the CGT leader, worried about his family.Many reasons for Bernard Thibault, give way before the end of his mandate in 2012.

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The day after a session down slightly in Paris, the CAC 40 is expected to resume the path of opening up in the wake of U.S. markets and as the Japanese market remained closed. The news promises to be quiet, the lining of year-end balance sheet could be a source of arbitration pending the release of durable goods orders in the United States. Volumes are expected to remain particularly weak.

The previous day, the Dow Jones advanced timidly but surely, from 0.23% to 11,558.81 points. U.S. GDP came out up 2.6% against 2.5% in the previous estimate, while economists were expecting a more significant revision, to 2.7% or 2.8%. Resales of existing homes rebounded by 5.6% last month to 4.68 million units on an annualized basis (according to figures from the NAR) in accordance with expectations of economists who expected a rise to 4.7 million .

The main highlight of the week at the macroeconomic level, however, is expected on Thursday with the number of durable goods orders for November. U.S. consumer confidence, spending and incomes, the unemployment claims or sales of new homes will also be published on Thursday.

On this side of the Atlantic, we will learn expenditure Household consumption of manufactured goods and producer price indices and import industry in France and inflation in Belgium.

The French plan to spend less in the next three months because they are pessimistic in purchasing power, according to a poll conducted for ViaVoice BPCE, France Info and Les Echos. Thus, 35% of respondents planning to spend less in the first quarter of 2011 for food and clothing low fee pay day loans.And only 3% of respondents are considering a property purchase.

On the foreign exchange market, the euro rises slightly against the dollar. This morning the euro is worth 1.3134 dollars. Tuesday the euro was again on the decline against the dollar, wiping out the gains earlier in the day. As for the Swiss franc, it has continued to gain ground against the euro in passing for the first time on Wednesday to below 1.25 Swiss francs per euro. The Swiss franc fell to 1.2439 per euro, a new record after those of the previous day where the Swiss currency had reached the milestone of 1.26 per euro.

As for oil, the price of oil has exceeded the threshold of 90 dollars late Wednesday in New York. That had not happened since October 2008.

NYSE-Euronext monitored

In terms of values, all eyes will turn to the NYSE-Euronext.In fact, the Anglo-Saxon trading platforms titles BATS and Chi-X have entered into exclusive negotiations regarding the potential sale of Chi-X Europe to BATS.

Subsidiaries of Bouygues and Plastic Omnium has been condemned by the Competition Authority to pay fines for unlawful agreement on road signs with six other groups.

Areva holds a general meeting must decide on a capital increase.

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The year 2010 was undoubtedly, in developed economies, that of the explosion of public debt. Thus, the net debt service of the U.S. state has increased by more than 2.000 billion for fiscal year 2010, according to a report released Tuesday by the Treasury. In total, the federal public debt has reached 13.473 billion dollars (10,300 million euros). The deficit, which reflects interest on debt and the cost of social spending, spring 2080 billion for the year ended September 30, against 1.253 trillion a year earlier.

The same applies to the United Kingdom: the country's public deficit widened more than expected in November to 16.8 billion pounds (19.8 billion euros) a month, or 2 billion higher than November 2009.Meanwhile, total public debt has dug logically, reaching 65.2% of Gross Domestic Product (GDP), against 59.5% a year earlier. In eight months since the start of the 2010 budget year in April, the deficit reached 83 cash advance no faxing.2 billion pounds, exactly the same level as the previous year despite the efforts announced to fill the hole in the accounts of the state.

Furthermore, with 50 billion of additional debt in 2010, Germany beat a sad record: the largest debt level since the founding of the Federal Republic in 1949. It now amounts to 1791 billion euros. And France, for the current year, Agence France Trésor (AFT) announced it has borrowed 188 billion euros in medium and long term, a record. French debt amounted to 1237 billion euros at end-November.

Meanwhile, Spain has seen the cost of its debt rose at its last auction of debt this year.

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The struggle for redemption Draka intensifies. The merger between Italy's Prysmian Cable Guy and Dutch would give rise to world number one cable to Nexans. But a third robber came to disturb the celebration. After the Dutch Draka refused the offer of 731 million euros of Nexans and accepted that of the Italian Prysmia, the Chinese group was outbid Tianjin Xinmao supply Prysmia. It proposes EUR 20.50 per share against 17.20 for Prysmia, a billion euros against 840 million. In other words, a difference of about 15%. However, if another candidate submits a bid higher than 15% in less than Prysmian, Draka may withdraw its agreement with Prysmian Cable Guy Italian and revise its bid. On Wednesday, both sides confirmed that they were engaged in discussions.

Nexans could withdraw

Until more information, Nexans, whose bid was rejected Monday by Draka, could announce his retirement. Every effort should therefore be played between Prysmian and Tianjin Xinmao. The Italian seems to be favored by Draka, since its offer has received unanimous support from the leadership of the Dutch group, as well as its largest shareholder, Flint Beheer, which owns 48.5% of capital. Before the Chinese do not make the offer though.

The new group that wants to build Draka and combine Prysmian Prysmian's presence in southern Europe and the Draka in the north and would be present in cables for telecommunications and energy. Its combined turnover would be around 5.8 billion euros based on 2009 figures for both groups.Prysmian's offer, to be launched in the first quarter of 2011 and completed in the second quarter, representing slightly more than 9 times the gross operating profit (EBITDA) of EUR 143 million projected in 2010 for Draka.

Apple has the showmanship. On Monday, a message posted on its website promised an announcement "exceptional" for this Tuesday at 16 o'clock. Immediately, the specialized sites are engaged in a true treasure hunt to guess the subject of this announcement. One scenario has quickly established itself: the arrival of the Beatles catalog on iTunes. A scenario officially confirmed by Apple.

Since the launch of Apple's digital music store in 2003, integration of the Beatles on iTunes was a figure of Arles. The rumor resurfaced routinely before each conference Steve Jobs. In September 2009, was taken for granted: the band's albums were released in version "remastered" and Paul McCartney and Yoko Ono, two managers of the precious catalog, had indicated their desire to negotiate with Apple.

Relations have not always been so addressed.A dispute has long opposed the label Apple and Apple Corps, founded by the Beatles, who share the same name. To avoid confusion of trademarks, the California company has embarked on in 1981 to have no musical activity. The output of the iPod and iTunes came to cause trouble. After several passages in court, an amicable agreement was reached in 2007 between the two Apple.

The situation has been gradually released. And according to The Wall Street Journal, the New York Times and Billboard, the negotiations to release the Beatles catalog on iTunes, started a long association with the major EMI have finally succeeded. Apple could benefit from a presentation Tuesday to introduce also a version of the iPod and the iPad dedicated to the Beatles, as he did for U2 before cash till payday.

A symbolic

Described as "exceptional" by Apple, this ad has primarily a symbolic significance.The Beatles are indeed one of the last groups to go digital soon. According to the New York Times, the agreement would in fact much to the tenacity of Steve Jobs, a great admirer of the group. Upon the death of George Harrison in 2001, the presentation of the Apple site had been upset to pay tribute to the guitarist of the Beatles.

The financial impact may be more marginal. In a depressed record market, the "Fab Four" certainly retain a capacity to attract phenomenal. United States, they still achieved the third best selling in 2009, behind Michael Jackson and Taylor Swift. In France, EMI has sold 100,000 last year remastered CD in just one week. But Apple is gaining much more money selling iPod and iPhone with iTunes. And the fans did not wait for iTunes to convert the songs themselves the Beatles.

That is why other announcements are expected on Tuesday …For Apple fans this time. "There is a chance that Apple has changed its plans at the last moment," also said the Wall Street Journal. iTunes, which has previously adopted the model of downloading the document, could convert to listen to streaming music subscription, facing the breakthrough services like Spotify. But this requires new agreements with record companies, which have not yet been signed.

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No need for capital increase. As BNP Paribas, Societe Generale and BPCE group had done in previous days, Crédit Agricole Wednesday rejected any appeal to the market to meet the new prudential requirements in their current state. The mutual group ensures that its financial structure "solid" and its "internal flexibility" it will show in 2013 a capital ratio above 7%, as required by Basel 3, both overall and at the level its listed vehicle, Credit Agricole SA (Casa).

For the green bank, this commitment is far from a formality. Financial analysts have repeatedly in recent months, to sound the alarm about the French mutual, judging it the most vulnerable in Europe face the stresses imposed by regulators.

Heavyweight insurance

In particular, they require that banks deduct from their own funds a portion of their holdings in the insurance business or in banks. However, Casa, truck insurance, also owns 25% of regional banks in the group. A capital structure similar to that of BPCE and its subsidiary Natixis. Natixis, a new entrant to the CAC 40, has also dropped in exchange for about 12% Wednesday, the day after disclosing earnings below expectations, but its prospects deemed disappointing in terms of prudential ratios payday loans for self employed.

Suffice to say that Credit Agricole was eagerly awaited Wednesday on the subject as technical as strategic. It has revealed that participation in the Casa regional banks would increase its risk-weighted assets of 50 billion euros.It will add 70 to 90 billion euros of risk-weighted assets related to market activities. Who said said additional risk-weighted capital requirement additional. Knowing that, at the same time, the regulator imposes capital deductions in current use: it could go up to 8.5 billion for Casa.

To compensate for these "less" prudential, Crédit Agricole has emphasized its ability to generate profit. In the third quarter, the whole group net profit group share of EUR 1.4 billion, doubled over the same period in 2009. Casa alone posted a net profit after minority interests of 742 million euros is 2.6 times the profit earned in the third quarter of 2009.In the nine months, the group garnered a profit of 3.3 billion, including $ 1.6 billion at Casa.

In total, 15 billion euros in profits that Credit Agricole expects to generate between 2010 and 2012, including 7 billion for Casa.