International News

This is the first major asset sale Technicolor Group (formerly Thomson) since its financial restructuring completed in 2010. Part professional broadcast Grass Valley, which includes all the facilities for the audiovisual sector, is the subject of a transfer agreement with a U.S. investment fund, Francisco Partners. This activity is the most important of the former Grass Valley, cut into three pieces (professional broadcasting, transmission networks and head) in order to facilitate its sale. The game sold today employs 1457 people in 23 countries, of which only 200 people in France. It generates 272 million euros in turnover but a deficit of 47 million euros.

This operation removes a thorn from Technicolor. The group disposes of an activity that consumed about 50 million euros in cash per year. An economy, certainly, but not a bargain.Firstly, to pass the baby, Technicolor begin by Francisco Partners to transfer 20 million euros in cash for the operation of the business. Then, the investment fund will pay its acquisition in 2016. It issues a promissory note for 80 million euros due six years, but bearing interest at 5% per year. In other words, by 2016, Technicolor will affect only 4 million euros per year. Finally, in 2010, Technicolor will take a loss in its accounts related to the difference between the value of the sale ($ 100 million) and the value of this activity at the balance sheet. Already in 2009, Technicolor had depreciated its assets transferred 379 million euros, of which a large part due to Grass Valley.

Accordingly, this assignment s gonna in no financial position of Technicolor. Frederic Rose, Chief Executive since September 2008, had warned.It is not easy to sell assets when they lose money and the seller is pressed. The important thing is to stop the bleeding. Since early this year, the new boss has renegotiated the debt with creditors, reducing it from 2.8 billion euros to 1.4 billion, and he raised 350,000,000 euros of fresh money. Its mission today is to cut off the rotten branches. He still has to sell the two other activities of Grass Valley and the advertising company Screenvision.

The title of the rural bank in China has opened up 1.6% and grew by 3% in the morning in Hong Kong for his first day of trading on the financial sector. Yesterday Agricultural Bank had completed on a 0.8% increase for its first day on the Shanghai Stock Exchange. From humble beginnings, who have not reassured the markets.

Fourth and last major bank in the Chinese state to be listed, it is worse than those rivals who had recorded double-digit growth, along with Industrial and Commercial Bank of China (ICBC), whose title was took 15% on the first day, in 2006. The current value of the title of the Agricultural Bank is 1.65 times book value, placing it above the other major Chinese banks.

The IPO of the Chinese establishment would go down in history, with an amount of 22.1 billion dollars.But it will only be achieved if the over-allotment option is exercised. The humble beginnings of the track gradually away this possibility for Agricultural Bank, which has so far raised only $ 19.3 billion. The record for the largest IPO would then remain at his counterpart ICBC, which raised 21.9 billion dollars in 2006.

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Asian stock markets see life in Green on Wednesday. All financial centers of the region appear to rise steadily. This situation contrasts clearly with the caution displayed Tuesday. Because of this enthusiasm: the American quarterly results, published since Monday. After those of Alcoa, which helped support Wall Street, those of Intel, fell after the close Tuesday, boost the morale of Asian investors.

The world of microprocessors has announced the results he describes himself as "historic". In the second quarter, the company posted a net profit of 2.887 billion dollars and an increase in turnover of 34% to 10.765 billion dollars.

Tokyo euphoric

In Tokyo, the Nikkei, which opened up 1.79%, continued to rise throughout the session to finally close on a leap of 2.71% to 9795.24 points.The Topix ended up 1.91% to 870.73 points. The activity has yet been moderately strong, with 2.3 billion shares traded on the primary market.

The performance of Intel supported Japanese stocks in the technology sector as the supplier of semiconductor Tokyo Electron and the semiconductor manufacturer Advantest, which respectively surged 4.07% and 5.67%. The early solid quarterly publications U.S. has generally allowed large groups of exporters rise sharply Wednesday. Automakers Toyota Motor Corp., Honda Motor, and the specialist digital cameras and Canon gained 3.47 to 4%.

Please note that Toyota enjoyed an article in the U.S. claiming that drivers who complained about the unintended acceleration in their Toyota had mistakenly pressed the accelerator instead of the brake.

The region follows the oil and also

In China, stock markets in Hong Kong and Shanghai respectively earn 20,640 points to 1.03% and 0.56% at 2463 points.

The Korean Kosdaq is 0.53%, the S & P Australia 1.62% and 0.47%, Sensex India.

Moreover, crude prices are mounted on Wednesday morning trade, the price of light sweet crude for August delivery gained 2 cents to 77.17 dollars a barrel, while Brent North Sea due identical, took 27 cents to 76.92 dollars.

Pressed by the markets which seem to question the reality of the support plan for Greece, the central bankers in the euro zone agreed Sunday on the financial terms of emergency loans to Athens. "An agreement has been reached" at a meeting of experts in Brussels, assured on Friday, several European sources. "A very important decision has been taken," said Sunday Greek Finance Minister George Papaconstantinou on television.It can be triggered at any time if Greece requests.

Any aid to Greece based on bilateral loans of at least 30 billion euros, which would be made at a rate of about 5%.

"For loans up to three years, the rate of special drawing rights (SDR) plus 300 basis points plus 50 basis points of service charge, claimed Friday from European sources.

Under discussion for ten days, the interest rate was a crucial point of the plan, anxiously awaited by investors. Germany insisted that loans be granted to Greece "no subsidy" that is to say, the market price, while France and Italy were ready to make a flower in Greece.

Berlin was right partners, obtaining successful even in the smallest details."A premium of 350 basis points above the SDR rate – the benchmark for the IMF – is the average for the market this week," said Dominique Barbet, head of market research at BNP Paribas. "For a country of the euro area is very expensive," he adds. "But at least Greece is attached to his fate," said the economist.

What interest could she Greece to seek EU aid, if the price of loans is not less than the market? "In the markets, lenders are not obliged to lend, even if the price is attractive: it is all the difference," said Dominique Barbet low rate payday loans.If Greece asks EU aid, she knows she will obtain a price fixed in advance, which will never be below the market price, because the latter will naturally.

Spectrum of banking crisis

For now, Athens has not seen fit to seek the help of the euro area and the IMF, even if the markets will grow, calling for a rate of 7% for loans to ten years, or surcharge of 4% compared to Germany.

Although the markets have calmed down a bit Friday, Greece is at the foot of the wall. It may not only failure refinancing at its next bond issue, but also a banking crisis. Fearing bankruptcy, the Greeks have already withdrawn 10 billion euros of deposits and place them in foreign banks.

On Friday, ratings agency Fitch lowered the debt by two notches to BBB-Greece, citing "budgetary challenges" growing."The sharp rise in interest rates will make it harder for the government to achieve its goal of reducing the budget deficit to 8.7% this year," says the rating agency. Fitch is particularly heard it was the first to degrade Greece December 8, 2009, giving the signal for the Greek financial crisis.

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"SPECIAL – Greece, a challenge for Europe

Sixty employees of the automotive Sodimatex, whose owner decided to close, are cut off since this afternoon at their factory Crepy-en-Valois, in the Oise and threaten to set fire to a tank gas, it was learned from the police, confirming a report Parisien.fr site.

A mobile police squad has been deployed around the plant. After being evicted on Thursday morning a roundabout they occupied, the employees were cut to 15 hours in their factory.

"They say they want to burn a tank of gas. They want socially is increased, said the prefecture. They demanded that negotiations be reopened with management.The state plays its role of mediator. "

The tank, four to five meters long, located outside the factory is surrounded by pallets "ready to be lit," according to employees.

The prefecture has reported working at a negotiating meeting "if possible as early as Thursday evening. "We do not know how it will end. People are focused, "said Eric Lemoine, of the CFDT plant. "People are starting to crack," he said.

A premium extra-legal of 21,000 euros per employee

The closure of the plant, which employs 92 employees, was announced April 10, 2009. Since then, negotiations between the social management and the employees have failed, despite mediation by the state. Employee representatives were received by early February at the Elysee by an advisor to the head of state, says Lemoine. "It would give us news. We're still waiting, "he said.The employees claim Sodimatex including extra-legal premium of 21,000 euros per employee.

They demonstrated Thursday morning on the outskirts of the plant, blocking access to a large industrial area and the logistics platform Crepy-en-Valois. According to the prefecture, they refused a round table to say their demands and kept blocking.

"The police intervened.They have restored traffic conditions allowing businesses to operate, "according to the prefecture, who said that the direction of Sodimatex" did not require intervention of the authorities. "

The mobile police intervened using tear gas, which was perceived by employees as "a real attack, told AFP Alain Lebrun, general secretary of the departmental union CGT de l'Oise.

"Employees demand that management come to the negotiating table, but not empty handed," he said.

He said the group Trier, owner of Sodimatex, received 55 million euros from the state under the plan to help automotive suppliers. "Today, we want to let employees go with the legal minimum," he denounced.Xavier Mathieu, the leader of the CGT employees of the factory Continental Clairoix (Oise), came to give his support Thursday night "to brothers of struggle."

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"When the state interferes in the affairs of industrial

Greece has lived too long beyond its means on falsified data, intentional or negligent. While the previous government announced a deficit of 6% of GDP, George Papandreou, just took office in October 2009, revealed a deficit of 12.9% and public debt to 115% of GDP, while the limit Brussels is fixed by 3%. The euro fell from the clouds. Widespread tax evasion – the shadow economy exceeds 20% of GDP – bloated government spending, burden of staff: emergency measures needed. Athens offers a drastic austerity plan: reducing government spending and health spending, freezing salaries and bonuses of officials, raising the age of retirement guaranteed approval cash loans !!!???! !!???!!!. Greece promises to bring back this way its public deficit to 8.7% of GDP at end 2010, but not convincing.Riddled with debt, it will borrow 53 billion euros this year if she wants to get out. If Europe does not help, bankruptcy is a nightmare scenario that nobody wants because it could snowball. But Greece also must avoid at all costs the social explosion that growls at her.

2) Why so much reluctance in Germany?

The German Chancellor has requested that a country can be excluded from the euro area "last resort" in case of repeated infringements Maastricht rules. Photo credits: AFN

An ad that was not one. The Russians do not enter the race for the tender of 35 billion dollars to supply 179 tanker aircraft to the U.S.. The company export Russian Rosoboronexport arms and aerospace manufacturer United Aircraft Corp (UAC) denied Monday to prepare a proposal.

Friday night, it was about a partnership between UAC and "a U.S. publicly traded" interfering in the list of contenders for the giant contract.At least that's what John had said Kirkland, who appeared as counsel for the future identity.

April Fools before the hour

"We know absolutely nothing of this tender," said Vyacheslav Davidenko, spokesman for the Russian arms exporter, the only Russian company authorized to participate in tenders of foreign military personal loans for people with bad credit .

With UAC, the news was taken with humor: "I think someone is preparing to advance an April Fool," said spokesman UAC, which said not even know "the lawyer "he read the name" first Friday "on the Internet and in newspapers.

Boeing still alone

For example, Boeing is still single track. But EADS could seep again.The European manufacturer has applied for a period of 90 days for the closing of the tender to submit a new proposal. At the Pentagon to decide. The installment is currently scheduled for May 10.

EADS had been ejected from the race in February, while its U.S. partner Northrop Grumman had withdrawn from a competition judged biased.

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While remaining for purchase on Ipsen, Gilbert Dupont decided Monday to withdraw the value of its favorite value list 'Midcap', arguing that "the handsome fellow course of action for a month (+9.4% ), compared with a performance of CAC Mid & Small190 limited to 0.6%, now leaves a potential stock market growth below 15%.

The withdrawal gave the lead in the wing during the specialist medicines, while trying again to exceed 40 euros. Around 15 hours, the action Ispen yielded 2.05%, to 38.75 euros, and signs the worst performance of the DRS on Monday.

However, the broker said it maintains its price target to 44.80 euros. To recall, the pharmaceutical group released late October sales up 7.8% to 256.4 million euros in the third quarter and raised in the same time its annual targets.The operating margin has been adjusted between 17 and 17.5% against 14% previously.

Gilbert Dupont has also highlighted the potential for marketing of LPG-1 class in the United States. The FDA (U.S. Health Authority) request to effect different actors perform a series of further clinical trials. Clinical trials are currently being published.