International News

François Lenglet, managing editor of business daily.

It is not just in France that soaring fuel worries. Whether in Beijing or Washington, the great powers anxiously watching the prices soar. United States, the phenomenon begins the popularity of President Obama. In China, leaders tried Saturday to end a protest by truckers of the Port of Shanghai. These last Friday blocked access to the terminal docks Baoshan.

After closed-door negotiations with the local road, the authorities announced on Saturday a "lower standard fees and the abolition of taxes outstanding." The decision was announced by making an effort to reduce "the pressure on carriers 'costs' and mitigate the effects" of rising inflation, is it explained in a statement. No mention of the strike.

Not sure the extent sufficient to satisfy the carriers.According to testimonies collected on the spot Saturday by news agency Reuters, the drivers intended to continue the movement until you see the concrete effects of tax cuts. "It's not that I strike, but what's the point of working if I lose money?" Said one trucker.

Beijing is trying to stifle any rebound media movement. No public statement had been made to this press Saturday and it was broadcast in English. It was only taken up by the official Xinhua News Agency, also in English. Chinese leaders fear that the waltz prices facing the country could trigger a vast movement of popular protest. Despite efforts to cool an overheating economy, inflation has been above expectations in March fast cash now. It reached 5.4% on a year to a growth rate of 9.7%, also higher goals of Beijing.

Obama disapproved

Across the Pacific, even dissatisfaction at the pump. In the U.S., the price of fuel has surpassed the symbolic $ 4 a gallon (unit equivalent to about 3.8 liters). The popularity of President Obama suffers. According to a survey New York Times / CBS released this weekend, 57% of Americans disapprove of the economic policy of the host of the White House. They are also 80% believed that the economic situation stagnates or deteriorates.

After a week to defend his choices for the federal budget, Barack Obama was forced to admit Saturday that rising fuel prices for Americans is "a burden when the situation is already difficult." But it does not mean advanced solution in the short term.Changes in gasoline prices more than justifies any investment in green energy, he was merely hammering during his weekly radio address this Saturday: "In the long term, the response. This is the solution to help people who are full and reduce our dependence on oil from abroad. "

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It was the next level to reach for gold. The 1500 dollars, a level ever recorded for the yellow metal, have been hit on Wednesday in Asian trading. At the Stock Exchange of Hong Kong specifically, an ounce of gold reached 1,500.70 dollars in the afternoon. This performance was predictable when reached 1,499.32 dollars an ounce the previous day in London. The pace of growth is dazzling but in less than a month, gold has made close to $ 53. March 24, the yellow metal was trading at 1447.82 dollars yet.

This acceleration reflects a broad movement of deferral of investors in risky assets to what they see as the ultimate safe haven. Gold is indeed a physical asset with intrinsic value is backed by any issuer. He is considered an effective barrier to escape threats currently facing inflationary in most economies.China announced last Friday that inflation rose to 5.4% in March. In Europe, inflation rises to 2.4% while in the U.S., it reached 0.5%.

Alert on debt

The surge in gold can also be explained by rising concerns over the sovereign debt of countries in the euro area. Rumors of the restructuring of debt of Greece sow confusion in the markets. In parallel, operators wonder if Portugal, which will launch an austerity measures, will overcome its difficulties. The degradation of the sovereign rating of Ireland only complicated the situation. Very worried investors finding more than in Finland, nationalists opposed to helping fragile countries, became the third force in the country.

More ominously, investors realize that even the world's largest economy is not immune.For the first time in its history, S & P has downgraded the debt of the United States. Monday, the day the ad crashing, gold has gained almost 10 dollars to 1496.50 dollars. The purchases were supported by a bout of dollar weakness which makes it even more attractive purchases of commodities, including gold.

For the rest, the next goal is the threshold of $ 1600. According to experts from research firm specializing in the GFMS gold, it will be reached and even exceeded by the end of the year.

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After Ireland and Portugal, Iceland could be the third country to experience a major diplomatic or political crisis, directly resulting from the economic and financial crisis of 2007 and 2008. On Saturday, some 230,000 Icelanders go to the polls have indeed voted in a referendum against the agreement Icesave, the name of the online banking subsidiary of Landsbanski, the second Icelandic bank nationalized in 2008 after going bankrupt.

Since March 6, 2010, the date of an initial consultation, the question arose on the repayment to Great Britain and the Netherlands of compensation paid at the time of their nationals Icesave victims (about 340,000 savers). Totaling over $ 3.9 billion. A financial burden that Icelanders have refused to take in view of the first results of the referendum held Saturday, April 9.

"No problem to solve our debts"

According to figures almost final, non prevail widely, with 57.7% of the vote, against 42.3% of voters in favor of yes. Certainly, the rejection is much less massive than a year ago, Icelanders have been 92% to vote against the assumption by the State for damages caused by international private banks. However, the consequences seem equally or even more complicated for the government in place since 2008. Iceland had indeed engaged in December last year to repay the Netherlands and Great Britain, all amounts advanced to their injured citizens.To plan would run from 2016 to 2046.

Already, even before the final election results, the Dutch Minister of Finance Kees Jan De Jager said he was "very disappointed" by the decision of the Icelandic people do not accept the agreement between the three countries to try to resolve a situation that has become almost inextricable. For British and Dutch side, no question that the matter ends there, whereas the two countries now that the litigation must be brought to justice.

In London and The Hague, the respective Ministers of Finance are studying the possibility of litigation to settle the case before the EFTA (European Free Trade Association). A first procedure had already been initiated by the Netherlands to that authority, then stopped to allow the three countries directly negotiate terms of an agreement.With the refusal of the Icelandic people Saturday "the negotiation stage is over" said Niels Redeker, spokesman for the Dutch Ministry of Finance. He thus echoes the English Treasury number two, Danny Alexander, who considers "disappointing" that the negotiated settlement with Iceland is either resulted in a release.

"No problem to solve our debts"

Therefore, the EFTA will resume in the coming weeks the record in hand. And Iceland may be worried because the authority was already acknowledged in 2010 that the amounts claimed by the Netherlands to Iceland and they were well due. The arrival of the United Kingdom in the proceedings, which examined the possibilities Sunday "to join it" could further complicate the task of the Icelandic government.Because if it believes it has "no problem to pay its debts" in the words of Steingrimur Sigfusson, his Finance Minister, is it always that the Icelanders are still refusing to pay the slate of private banks. More for foreign citizens. Therefore politically difficult to Reykjavik to meet its promises after two resounding rejection of his countrymen.

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Wall Street ends week in positive territory. At the close on Friday, the Dow Jones advance of 0.46% to 12,373.72 points. The S & P 500 is 0.5% to 1332.41 points. The Nasdaq composite index was him, appreciated by 0.31% to 2789.60 points.

For the week, the Dow gained 1.3%, the S & P 1.4% and Nasdaq 1.7%.

The job restarts

Yesterday, the markets showed very cautious before the release of the monthly report on employment. They discover a pleasant surprise today: the recruitment remained high and accelerated in the U.S. in March, allowing the unemployment rate to decline for the fourth consecutive month. This fell to 8.8%, its lowest level since March 2009 (8.6%). The market was expecting an average 8.9% stability.The U.S. created 216,000 non-farm jobs last month when observers were waiting an average of 190,000 new posts after 194,000 (revised) in February. Economists point out that new posts are developing in many sectors of the U.S. economy, which suggests a general recovery.

The good news on the jobs front this week have followed. On Wednesday, the firm ADP unveiled the net creation of 201,000 jobs in the U.S. last month. Thursday, the markets learned that the weekly claims for unemployment benefits were lower spring to 400,000 for six of the last eight weeks.

"Investors are expecting good numbers of jobs after the firm ADP's report on Wednesday, and they were even better than the optimistic expectations," said Michael James, of Wedbush Morgan Securities."This tells us that the economy continued to grow in March, and perhaps a modestly faster pace than what we expected," commented Hugh Johnson, Hugh Johnson Advisors.

Construction spending receding

Other statistics were also at the appointment on Friday. Worse than employment, they were completely overshadowed:

– The growth of manufacturing activity slowed slightly in March but less than expected, according to the index of industrial purchasing managers released Friday. This index, calculated by the Institute for Supply Management (ISM), stood at 61.2 in March after having touched a high of nearly seven years to 61 faxless payday advance.4 in February. Analysts on average expected an index to 61.0.

– Construction spending fell more than expected in February in the United States, posting a decline of 1.4% to an annual rate of 760.6 billion dollars, its lowest level since October 1999, underlining the renewed frailty in the housing sector. Economists on average had forecast a decline of 0.1% after falling 1.8% in January (revised from -0.7%)

As for currencies, the euro stood at 1.4224 dollars at the close, surging 0.49%.

War of the exchanges is relaunched

As for values, ICE (-3.06% to 119.76 dollars) and Nasdaq OMX (9.25% to 28.23 dollars) officially announced on Friday it had sent a joint offer for the acquisition of NYSE- Euronext (12.62% to 39.61 dollars) for $ 42.50 per share, paid in cash and stock, giving a total of about $ 11.3 billion (7.98 billion euros).This proposition therefore shows a premium of 19% over the offer from Deutsche Boerse.

Logitech (-18.81% to 14.72 dollars) unscrews. Yesterday, the technology group warned on its revenue and operating profit 2011.

Berkshire Hathaway (+0.04% to 83.66 dollars) should again be observed after the resignation of David Sokol, the most likely successor to Warren Buffett.

Office Depot (-9.07% to 4.21 dollars) will revise downward its results for fiscal 2010, due to a reduced tax credit of 80 million.

BP (3.44% to U.S. $ 45.66) enjoys a recommendation by JPMorgan.The broker believes that the title is "seriously downgraded," and reiterated his recommendation to "overweight" value.

Boeing (+0.07% to 73.98 dollars) on Friday confirmed an order for 15 737 aircraft made by compage Turkish Airlines for more than $ 1.2 billion based on list price. The aircraft manufacturer said that this order includes delivery of 10 737-800 and five 737-900ER.

Ford (1.68% to 15.16 dollars) overtook General Motors (4.45% to 32.41 U.S. dollars) in the U.S. car market with sales growth of 19.2% yoy month last 9.6% cons for GM. Chrysler saw its sales climb 31%.

The costs of fund management Safely dropped a point in five years, reaching 3% in 2010. "Unbeatable for 400 billion euros in benefits provided to 360 premium collected," Judge Dominique Libault, Director of Social Security. "A form of performance" made possible primarily by the online services that reduce the "paperwork" to be treated while improving service (Pajemploi, CESU, Vitale Ameli.fr or to name the best known examples).

These productivity gains allow a policy close to the non-replacement of retiring in two applied to the state: 10,000 job cuts and less in Medicare and another 4,000 planned, workforce stability despite the CFO care benefits for civil servants and RSA no fax cash advances… In the end, the number of general system-level income "from 1976, according to Peter Mayer, director of CNAV.Other projects are underway: Medicare Expands Sophia, escort service for diabetics, an experiment takes place to optimize the treatment pathway after maternity … The branch family, she launched the site in 2009 my-enfant.fr to seek care arrangement. "Families find all the host schools, child-minders in 70 departments and a cost calculator," said Herve Drouet, its director.

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France-Soir has missed its target. Relaunched on January 17 with great fanfare with a promotional campaign for a $ 4.5 million, the newspaper of the young Russian Alexander Pugachev can not take off in sales. According to data reported to OJD, the distribution of the daily France paid amounted to 71,361 copies in January 2011 against an average of 74,531 copies in 2010. The new France-Soir has witnessed a drift of its newsstand sales. These are lowered in January to 46,000 copies, the worst month ever recorded the title since its first revival in March 2010, where he sold more than 73,000 newsstand copies. The situation had deteriorated again in February.At the same time, sales by third parties (airlines, restaurants …) journal has never been higher, at 22,000 copies in January, compared to less than about 4,000 copies in March 2010.

The new formula was launched under the leadership of Remy Dessart, managing editor since last August, would enable France-Soir "to pass more quickly to more than 100,000 copies," hammered in early owner. But Alexander Pugachev, who has already invested over 50 million euros in the newspaper, took the risk of destabilizing its faithful readers.It has increased the selling price of 10 cents to 0.60 euro for a paging maintained at 32 pages, and especially his book horse was reduced to almost nothing, pagination as the racing decreased from 8 to 3 pages .

Crédit mutuel sought

The son of Russian oligarch Sergei Pugachev, who plans to inject another 20 million euros this year, he will continue long to replenish the paper? "Everything goes well, we work hard to make the newspaper," Remy loose Dessart, who does not wish to comment on the financial difficulties of France-Soir. Last Tuesday, Alexander Pugachev convened a crisis meeting with his directors, as revealed by Press News. While its monthly losses always exceed two million euros, France-Soir was hoping to break even in 2012 with a circulation of 150,000 to 170,000 copies.Goals that are too far pushing Alexander Pugachev to seek partners. He recently asked Michael Lucas, chairman of Mutual Credit and leading publisher of regional newspapers throughout the Group Ebra.

Renault CEO Carlos Ghosn, Patrick Pelata, the general manager, on Monday presented their "apologies and deep regrets, personally and on behalf of Renault executives dismissed the three early January and accused of" wrongly "espionage . The automaker promises to "repair" and agrees "that reparations be paid to three executives involved and that their honor is restored to everyone, taking into account the serious human harm they and their families have suffered."

A few minutes earlier, the Paris prosecutor Jean-Claude Marin told a press conference that the prosecution gave up the hypothesis of espionage within the group, investigations into banks in Switzerland and Liechtenstein have shown that "the bank accounts of executives charged with Renault not exist," said the prosecutor.

The floor is moving towards the assumption of a "possible fraud intelligence" to the detriment of the group, following the indictment of Gevrey Dominique, head of Renault's safety, for "organized fraud". The trail of espionage is not completely ruled out, as "the scenario of destabilization, however, tempered Jean-Claude Marin bad credit personal loan lenders.

Renault has already paid 310,000 euros

In early January, the automaker has laid off three of its executives, accusing them of having coined confidential information on its program of electric vehicles. But since then, doubt has set in and Renault considered the argument of a "manipulation". The group acknowledged having paid its informant, referring to a sum close to 250,000 euros.The prosecutor for his part said that Renault had already settled 310,000 euros for information and he still had to pay 390,000 euros.

In an interview with Le Figaro, the chief delegate of the group, Patrick Pelata, hinted he might resign if the allegations proved unfounded: "When the investigation is complete, we will draw all the consequences to the level more top company, that is to say to me, "he said.

Renault has convened an extraordinary board of directors on Monday to 16 hours.

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Relegated to fifth in the world when he was number two behind General Motors in 2004, Ford, the only major U.S. manufacturer to have happened in Washington's help in 2009, returned to growth. It even displays an appetite of an ogre, with the goal of producing up to 8 million vehicles this year, against 5.3 million in 2010.

To support this ambition, the group's strategy rests on two pillars: "One Ford" and Sync. "One Ford" for the universal car pooling and industrial resources, sales and marketing group. Sync technology. The group invests heavily inspired by the universe created around smartphones and other mobile uses.

Indeed, earlier this week, while the motor show in Geneva in full swing, the CEO of Ford himself is in Hanover for the CeBIT, an electronics show.

LE FIGARO.- What is the importance of technology in the strategy of Ford? This change does your brand?

Alan Mulally. – Our brand has steadily improved over the last four or five years. Ford's strategy is to offer a full range of vehicles, from small city to the big family. Each being the best in its class and meet four criteria: quality, safety, reduced CO2 emissions, technological intelligence. All for a price accessible to the greatest number. What we can do with our size and standardization. The Ford Focus Sync is sold between 16,000 and 20,000 dollars, its European price has not yet been determined. Today, 70% of cars bought in the U.S. are equipped with our technology Sync, and 80% of people who use the recommended spontaneously to their surroundings. Ford Sync and MyTouch are real vectors of purchase.To borrow a metaphor from the world of smartphones, Ford is working with Microsoft and acts like Apple. Ford is the latest in mobile technology.

Why high-tech rather than low cost?

We want to be a leader in providing useful services for the driver. With our system, voice commands, the driver can access their phone, including his music, without ever leaving the road. We make the road safer. We started with 1000 voice commands, we are now at 10,000. Ultimately, it will be possible to have a real conversation with his car payday loans. All with simplicity. The car has no onboard equipment, it facilitates the connection of consumer electronic devices.

How does this fit into your strategy "One Ford"?

As you know, we sold our other brands to focus on Ford.This represented 45% of our sales a few years ago. It is almost 100% today, with a full range of vehicles. For this, we rely on our industrial platforms. Focus is produced in five plants worldwide and will be split into ten versions, with 80% common parts. The remaining 20% correspond to the necessary adaptations to local demands. We find the spirit of Henry Ford who wanted to reach the largest number of customers by sticking to their expectations.

Will this be enough for it to regain market share that you lost?

Ford sales have risen dramatically. The four pillars of our strategy are almost universal. Sync is a vector of purchase: consumers want to stay connected to their digital world. Yet there had never been on the market for small vehicles with many capabilities.We will continue our growth by responding better to the expectations of our customers. This year we aim to produce between 7.5 and 8 million vehicles worldwide. This is a tremendous increase in a year!

You are attached to environmental issues. What type of engine for the vehicle of tomorrow?

We improve the performance of our engines, both petrol and diesel, and we are developing both hybrid, plug-in hybrids and electric cars. The recent development is intrinsically linked to the electrical infrastructure, the ability to manage networks. This will require public-private partnerships. Electricity is also a solution for emerging countries seeking to secure their energy independence. Finally, in the longer term, I think the hydrogen engine.Everything will depend on technological advances in the field of batteries, but an engine that emits only water is fantastic!

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The year 2010 ended again on a considerable trade deficit. At 51 billion (with exports up 13.5% and imports by 14%), it does not, however, the 2008 record of 56 billion euros. For nearly ten years, each new minister of foreign trade happens at Bercy can only see the damage, which leads quickly to develop new solutions to restore our trade balance. By "thinning the chain of export," Pierre Lellouche, who arrived in November in that department, wants to turn a reverse trend: the decline of French exporters and declining market shares of the Hexagon in world trade.

The year 2009 has been a brief pause in the continual erosion of foreign trade low fee payday advance.In the context of crisis and slowing global trade, France had succeeded in arresting the deteriorating trade balance. But now that the recovery is here and that each country has found an economic activity sufficient to fight in the global competition, the Hexagon is once again behind.

For fifteen years, during which France has seen the number of exporting firms rise from 100,000 to just over 90,000 – all the explanations and justifications have been given to the poor French performance, the inadequacy of the specific sectoral global demand, positioned in line shifted, through a bad price competitiveness of SMEs and too small.