International News

A rock concert without a little moss, is like "a guitar without the strings" in the words of Didier Wampas. "Beer is part of the concert!" Confirms Franck Le Bihan, head of debit, the company that supplies drinking the Zenith in Paris. In good years, that is to say those who have many dates of foreign rock bands or hard and metal, he sold 70,000 liters of beer and worse (when the French variety is the poster) 40,000 liters. "This is hard rock that consumes the most," says he, even if the reggae concerts Appliances are not left behind. Thus in 2009, Motörhead concert which brought together 3000 spectators, it is 3000 liters of beer are gone, one liter per person! Some shows, however, reserve some surprises to the landlord of the premises."To Vanessa Paradis, spectators often come in pairs, drank lots of champagne," says he. However, at 8 euros cutting cons 4 euros the 33 cl beer, has quickly made. But beware, even if an artist sells a lot more drinking than another, it affects not percentage. The drink is for the room.

Unlike the Zénith, the Palais Omnisport de Paris Bercy (POPB) does not go through a dealer, is the room that takes care of the bar to which it employs, as the night between 40 and 70 people. Again, these are the concerts or hard metal that consume the most. Thus, for two performances of AC-DC (17,000 spectators each time), fans of Angus Young have drunk more than half a liter per person …cons under 25 for Bénabar cl.

The sale of alcohol is so important for rooms that Zenith is a 10% discount on the amount of rent if the artist makes an intermission … It must be said that at the Zenith in Paris, the bar is not less than 20% of annual turnover! In POPB is 10% "only" because of the large number of sporting events for which it is forbidden to sell alcohol. "I often say, if one takes away the bar, the ticket prices will increase by 20%!" Says Daniel Colling director of Zenith in Paris. Certainly, it is the artist who set the ticket prices and not the room, but if it earns more money from the bar, it will increase the rent and the amount of seats will be increased.Therefore Pascal Negro, CEO of Universal Music France sums up the situation thus: "the lemonade is the future of music-hall!".

Minor awards of the bar at the Zenith in Paris

For the 2008-2009 season, viewers spent an average per person:

2.34 EUR Bénabar (variety)

4.04 euros for Trust (French hard rock)

6.97 euros for Alpha Blondy (reggae)

7.06 euros for Prodigy (electro)

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In the wake of their European counterparts, U.S. exchanges have closed the week on a steep decline: the Dow Jones lost 0.96% and the Nasdaq, 1.22%. However, publication of results in the fourth quarter of giant Intel on Thursday night after-hours trading was better than expected. But the JP Morgan Chase established the doubt. The day before the U.S. markets have closed up slightly, despite the disappointing statistics across the Atlantic. The sectors of health and technology have supported the trend.

Earlier Friday morning, Asian stock markets closed broadly in the green. Tokyo The Nikkei ended the session up 0.68% at 10,982.10 points. The Hang Seng in Hong Kong, however, ended down 0.3% to 21,654.16 points as investors still worried about a possible tightening of Chinese monetary policy.

The President's speech yesterday, Obama did not surprise the markets.As announced by the spokesperson of the White House, a proposed tax of fifty largest banks will be presented to Congress in the coming weeks. According to the Financial Times, the U.S. Treasury would press other countries to also adopt a tax on banks.

New wave of statistical significance

The consumer prices in the United States rose by 0.1% in December, bringing inflation over the whole of 2009 to 2.7%, according to figures released Friday by the Labor Department. In the short term, the inflation risk sembre low.

Industrial production in the United States rose in December by 0.6%, as expected by analysts, according to official figures published Friday, but this increase was primarily allowed by having an unusually cold boosted the energy sector.

The technology and banking suffer

Intel sells 3.17% to 20.80 dollars, while the U.S. group confirmed on Thursday evening the resumption of its activities, with net income nearly tenfold in the fourth quarter of 2009, which has reduced to 17% of the decline annual net profit to 4.369 billion dollars. This exceeds the expectations formulated earlier by analysts. "The market has seen a nice rise, everybody expected a good showing from Intel. To some extent it is a classic case of sales at the time of the announcement, "said Owen Fitzpatrick of Deutsche Bank. Even setback for Microsoft (-0.32% to 30.86 dollars), IBM (-0.38% to 131.81 dollars) and Cisco (-2.20% to 24.40 dollars).

Boosted by a return to growth in the fourth quarter, PC sales grew by 5.2% in 2009, according to a study by analyst firm Gartner published yesterday.Acer dethroned Dell (-2.04% to 14.40 U.S. dollars) in second place worldwide.

Even surprise to JP Morgan Chase, which lost 2.26% to 43.68 dollars. The U.S. bank has yet announced having doubled its net profit in 2009 to 11.7 billion dollars. Per share, net income reached 74 cents per share in the fourth quarter, against 62 held by analysts. In the fourth quarter alone, the bank has increased by more than four net profit to 3.3 billion dollars. The bank's CEO, Jamie Dimon, welcomed the news that the bank in late 2009 enjoyed a "very strong capital ratios Tier 1 of 11.1%. But the cost of risk (failure to pay on credit) remains "high". The bank especially in its accounts last quarter to 7.3 billion dollars in reserves to cover these risks.Morgan Stanley lost 2.88% to 30.30 dollars, Goldman Sachs 1.95% to 165.25 dollars, and Bank of America 3.33% to 16.26 dollars.

Citigroup (-2.85% to 3.41 dollars) would be decided by the Financial Times, to cap the bonus at $ 100,000.

Market research firm NPD has revealed sales of video game consoles in the United States for year-end 2009 total, the three major manufacturers have passed 40 million consoles in 2009, including 20 million for the Wii Nintendo, 10 million for the Xbox 360 and 10 million for the PlayStation 3 (PS3) by Sony, thanks to an aggressive policy of lower prices.

In addition, Verizon Communications (-2.05% to 30.58 dollars) will host a conference on its wireless subsidiary, which is partly owned by Vodafone (-1.82% to 22.09 dollars).

Oil retreats, dollar strengthens

Side materials, oil slipped below the 79 dollars a barrel and connects its fifth session lower after the report of the International Atomic Energy: global consumption of oil should rebound by 1.7% in 2010 fully supported by demand from emerging countries and Asia, after falling 1.5% in 2009.

The dollar is strengthening against the euro, which is penalized by the situation in Greece after the publication of inflation. One euro is worth 1.4385 dollars.

Air Problems

Air traffic may experience some disruption on Wednesday and Thursday. An Inter-CGT-CGC-FO Unsa air traffic controllers said it was maintaining its notice to strike despite a meeting with Transport Minister Dominique Bussereau. Twelve thousand agents are concerned. They deal in particular security and air traffic management. The airlines will then induced to delay or cancel their flights. "We expect a fairly important to strike then strong enough disruption to our services. We warned these companies of significant disturbance to predict, "warns the Directorate General of Civil Aviation (DGCA). This should provide future traffic forecasts. Travelers are advised to check their flights before going on site. Several airports, such as Lille or Brest Britain, are already experiencing delays.Trade union sources suggest even the possibility of "Operation Snail" on access to airports.

Reason: the Inter asks the Government to reconsider its policy of non-renewal of retirement on two, or 400 job cuts in two years. The unions also fear a dismantling of the Directorate General of Civil Aviation (DGCA) in favor of a merger of services under the FABEC (block functional space common to Germany, Benelux and Switzerland) .

Officials should stop work

They are asked to raise next January 21 by the CGT, FSU, Solidaires, the NMS-CFDT and UNSA-Education.

Reason: they demand an immediate halt job cuts. According to them, in 2010, the State and public services will suffer their worst year in the budget with 30,000 job cuts.Since 2007, this will total more than 100,000 jobs have been eliminated. "Education is very particularly hard hit with more than 16,000 job cuts, totaling more than 40,000 jobs," said a statement of the UNSA-Education. A common departure is planned in Paris, Place de la Republique and 14h. "This movement must be sustainable, unions warn.

The maritime transport of goods affected

In continuation of the strike on January 4, a social movement paralyzes the major French ports since the beginning of the week. The mobilization could still continue. Monday, at the invitation of the National Federation of Ports and Docks CGT workers stopped work in Marseille, Dunkerque, Nantes-Saint Nazaire, Rouen, Bordeaux, La Rochelle and Le Havre. In the Normandy ports, they were almost 90% to strike. In Marseilles and Fos, fifteen vessels were affected.At Havre, the container terminals were very disturbed.

Reason: after the port reform, the CGT claimed the government guarantees employment, including the arduous, and investment. The union wants the expansion of the national collective agreement to river ports and fishing ports and want more information on the transfer of personnel handling to the private sector. The seven autonomous ports French in 2008 employed nearly 31,700 people. However, their market share relative to their European competitors continues to decline.

Mobilization to the Court of Appeal of Amiens

The unions and leftist parties called the 1120 employees of the factory Continental Clairoix to demonstrate to the Court of Appeal of Amiens on Wednesday.

Reason: the first trial court had sentenced heavily Compiegne six demonstrators protesting against the closure of their factory.The objective of the Inter is to obtain the release of six persons convicted of "looting" of the sub-prefecture of Compiegne April 21 last. That day, nearly 200 employees occupy the factory sub-prefecture, after learning they were rejected by the justice of their demand to cancel the procedure of closure. The trial will take place at 13:30.

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European consumers should avoid this year's gas war, which traditionally opposes Russia to Ukraine. However, last week, the European Union monitors to close another front – this time oil – which is taken to Moscow and its close neighbor, Belarus.

It is populated by the republic of 10 million inhabitants, formerly subservient to the Soviet government, which handles a significant part of Russian oil destined for Europe. Now, Moscow intends to Minsk taxing exports of black gold, which should account for this small country a net loss of about 1.8 billion euros. In tough negotiations are taking place in the Russian capital, with the fear still present, the Russian government abruptly interrupted deliveries of oil.

Flowing through the Druzhba pipeline, the oil supplies to refineries in the Czech Republic, Slovakia, Hungary and Lithuania. Further downstream, 15% of oil consumed in Germany goes through this famous pipe, a proportion which reaches 75 in Poland! "We remain very attentive to the changing situation, said Thursday the spokesperson of European Commissioner for Energy, Andries Piebalgs. Brussels has negotiated with Moscow the introduction of an early warning system, designed to prevent energy crises.

"Bringing the country in the right way"

As usual in energy, trade dispute that combines economic and political considerations. Moscow wants to change the preferential treatment that allows today to Belarus, as a former Soviet republic, to pay no duty on the oil it imports from Russia.

The unspoken goal of the Russian government is to "bring in the right way" Belarussian President Alexander Lukashenko, who is attempting a rapprochement with the EU. Oil, which constitutes 37% of Belarusian exports, is easy ammunition. Meanwhile, Moscow and Minsk – allies in Astana, the capital of Kazakhstan – three negotiating the creation of a customs union, hardly compatible with the flirtation European Belarus. Between the Russian oil and Brussels, Alexander Lukashenko will probably choose.

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The time of easy financing of the debt it is soon gone to the United States and the United Kingdom? Large investment funds such as Pimco and BlackRock, fear that record levels of debt can cause a rise in interest rate markets. For states, this means a debt more expensive to finance. For investment funds, this translates into a loss of value of their bond portfolio. These have accordingly reduced their exposure to U.S. debt and the UK, according to them particularly vulnerable.

The California Pimco, the largest bond investor in the world which manages 199.5 billion dollars on this market, has reduced its shares of American and British debts to a level not seen since the bankruptcy of Lehman Brothers in September 2008, reports agency Bloomberg.The European BlackRock has in turn reduced its exposure to these securities at its lowest level in two years, the Financial Times.

Investment funds fear two things: that the interest rate, the lower back quickly and that the market can absorb the debt securities issued as required by the states … fueling the rise in yields . A concern that is primarily about the United States and the United Kingdom.

Decline in value of portfolio

"The question posed to the fund now is: when and how fast interest rates will they go?" Analysis Bruno Cavalier, chief economist at Oddo. A rise in interest rates next, helped by economic recovery, would mechanically increase the yields of bonds issued in the coming months.As a result, the securities purchased in the past by the fund with a lower yield, would see their market prices fall. This would melt the value of fund portfolios.

In this perspective, bond yields have rebounded. "Today, the yield on the U.S. ten years is around 3.8% against 3.2% last month and a half … and cons 2% a year ago," notes Bruno Cavalier. Same trend for UK Treasury bills. A consensus of analysts surveyed by Bloomberg, the ten-year yields should rise by 4.01% today to 4.31% by end 2010.

Still, the natural demand for sovereign debt should continue, slowing the rise in rates. The new regulations are put in place will indeed require banks to offset the risk by increasing their liquidity cushion.They then turn to bonds. Therefore, "even if emissions of sovereign debt increased sharply, demand should rise dramatically," said Laurence Boone, chief economist at Barclays, before agreeing, referring to ads Pimco: "We are never at 'immune from turmoil in a market if investors decide to all move together … "

The carbon tax is passed to the door Tuesday censured by the Constitutional Council. The government promised to submit within three weeks, a new mechanism. Anyway, the series of texts budget voted in recent weeks Finance Act 2010, Act funding Social Security, supplementary budget for 2009 includes several other measures affecting the taxation of households this year. Here are the key.

• Ceiling overall tax loopholes

For income received in 2010, a taxpayer may not reduce their income tax using the tax loopholes (working from home, child care, grants to associations, Scellier …) beyond an amount equal 20 000 plus 8% of its taxable income. Introduced in late 2008, the overall ceiling was far more generous, to 25 000 plus 10% of income.Taxpayers who use the niches Dom-Tom, Scellier, or devices for tourist homes have a respite: they have signed an investment commitment before December 31, 2009, they escaped the drop in overall ceiling .

• Act Scellier

The reduction of income tax, taxpayers enjoyed buying a new home for rent under certain conditions, remains at the same level as in 2009 – representing 25% of the purchase price – for homes purchased in 2010 that they meet or not the standard "building low-power" (BBC). The "greening" starts from 2011 for non-BBC dwellings, the tax cut to 15% next year and 10% in 2012. For homes BBC, it remains at 25% in 2011 and then fell to 20% in 2012.The Scellier disappears at December 31, 2012.

For new housing, the loan rate zero (PTZ) was doubled in 2009 and will continue until June 30, 2009. Photo credits: Pascal SITTLER / REA