International News

The NYSE opened Thursday near equilibrium, having finished the previous lowest in eight months, dragged down by a new indicator on the disappointing U.S. employment market: the Dow Jones lost 0.05% and NASDAQ 0.03%.

"Nobody seems eager to take advantage of market declines to buy shares, at least for now", believes Patrick O'Hare of Briefing.com financial site. "This reluctance reflects a decline in market confidence about the ability of companies to achieve their performance goals in the second half of the year."

Influenced by the European public debt crisis, the oil spill in the Gulf of Mexico and fears of slowing global economy, U.S. equity indices closed sharply lower Wednesday for the second consecutive month to reach their worst quarter since the second quarter of 2002.They returned to their lowest level in eight months … Yesterday, the Dow Jones finished down 1% to 9774 points, the S & P 500 also lost 1% and the Nasdaq 1.2%.

The banking sector might react after the removal of a proposed tax credit and the approval by the House of Representatives, the final version of the broader reform of financial regulation in the United States. President Barack Obama reiterated Wednesday during a speech in Racine (Wisconsin, North) that the bill would "prevent a crisis" such as that of 2007-2009. "This is a reform that will protect our economy from the recklessness and irresponsibility of some," he said.

On the face of macroeconomic indicators, the employment figures expected Friday should mark a return to job losses after five months of improvement.On Wednesday, already, enrollment weekly unemployment rose unexpectedly last week in the United States, according to the Labor Department. Applications for unemployment benefits rose 13,000 to $ 472,000 in the figures as at June 26, while economists on average expected a decline to 452,000 over the figure of 457,000 originally reported. This does not augur the best.

Even more than other countries engine of global growth, China has seen, precisely, growth prospects are heavily depressed by the Conference Board and the Chinese manufacturing activity slowed in June, according to two indices Chinese purchasing managers released Thursday.

Investors will closely monitor the repayment by the European banks, expected on Thursday.They will have to repay 442 billion euros Thursday to the European Central Bank, with the maturing of a loan granted exceptional giant a year ago.

Unemployment, housing sales and the ISM Menu …

In this context, the statistics of Thursday afternoon should be highly supervised, investors watching for any sign of improvement. They may be disappointed. The promise of home sales in May and the ISM manufacturing activity in June should be more than mixed.

Technology stocks, IT and telecom will be well attended.

Setbacks Chinese Google could find exits. The license renewal application filed by the U.S. giant in China will be considered by the government and the result will be published shortly, have indeed shown this Thursday, the Chinese media.The U.S. group has shown good will by announcing in Beijing that he would terminate the automatic rerouting of its Chinese site to its site of Hong Kong. The track lost 0.11% to 444.47 dollars.

The internet group Yahoo! else has announced Wednesday that its board had approved a share repurchase program of $ 3 billion over three years. During Wednesday's closing, this amount represents approximately 15% of the market capitalization of the group.After the announcement, the stock price Yahoo!, The lowest since a year has risen by 1.59% to 14.08 dollars.

The Microsoft IT group (+ 0.56% to 23.14 dollars) announced Wednesday it would gradually stop marketing its phone launched in April, the Kin, especially for the youth market of amateur social networks. " Microsoft has decided to focus on the launch (OS) Windows 7 and Phone will not deliver the Kin in Europe this fall as planned, "the group said in a statement

The small business Internet distribution Woot, offers its followers not more than one model per day at deflated prices, said Wednesday that she was redeemed by the giant Amazon, without specifying financial terms of the transaction."The name of a dog! Woot has signed an agreement with Amazon – yes, then the Amazon – to become an independent subsidiary of the giant e-commerce, "said the little Texas company on his blog. The title gained 0.14% to 109.40 dollars.

Finally, Boeing could react because the World Trade Organization asks Brussels to halt "without delay" to the subsidies paid to Airbus. Boeing sees this decision as "a great legal victory, the European union will be Apel.les action leaves 0.51% to 62.46 dollars.

The Autorité des marchés financiers (AMF) to better protect investors. Like announced last April, the MFA has launched with the collaboration of the supervisory authority, a new public financial information. His goal? To better inform its clients on banking, savings, insurance, financial markets or the credit. The public will get information on insurance products (home, auto, life, health …), bank accounts, means of payment, bank books or the functioning of financial markets, products collective savings, companies listed on the Stock Exchange, the securities account.

"Applications will be redirected by the operators to specialists of the AMF or the supervisory authority," says Madeleine Guidoni, mediator of the AMF.The policeman of the Exchange hopes to meet customer expectations disappointed that their banks do not have better information about the content of such Fund.

Life buoy

"The financial institution has taken to bad habits for marketing of financial products", regrets the AMF Ombudsman Paperless payday loans. With this new service, the regulator should thus be able to better track business practices of banks and better focus the control activities.

After the merger of the bank authorities and insurance giving birth to the supervisory authority, the creation of this service, as required by the economy minister, Christine Lagarde, is like a lifeline to investors, including confidence in financial markets has been severely affected by the numerous cases of fraud or scam.

Called Bank Savings Insurance News Service, is available in a website – www.abs-infoservice.fr – a telephone helpline – 0811901801 – and a postal address – 61 Rue Taitbout, 75009 Paris. The domestic number is available Monday through Friday from 8:00 to 6:00 p.m..

ALSO READ:

"The banks have taken the bad habits"

The rating agencies do not trust Japan. "Without a strong fiscal consolidation plan and credible by the Government of Japan notes will be threatened with demotion to the long term," he said Monday in Tokyo Andrew Colquhoun, director of public debt ratings for Asia-Pacific .

The warning is not innocent. It was made just hours before Prime Minister of Japan, Naoto Kan, announces an increase in the consumption tax, now one of the world's lowest, 5%, designed to rebalance country's finances, would not the day "before two or three years" paydayloans.

In the eyes of Fitch, Tokyo is obviously not fast enough, while the country's debt reaches 201% of its gross domestic product (GDP).

We knew the loopholes in the tax and social in the sights of government. Fran?ois Fillon reiterated Thursday that he did not intend to scale back its ambitions in this area. Before the senators, the Prime Minister has once again stated that the government would propose the "elimination or capping of tax and social niches. Lower taxes for donations to associations, loan interest deductions for a property purchase, VAT at 5.5% for other work and reduced taxation for life insurance contracts now know what to expect !

Bercy's goal to reduce by 2 billion euros per year tax loopholes, and for 3 years. An ambitious goal that requires the Department of Economics at all look under the microscope, one by one. "There are two ways to act: either to consider each of the niches and see the feasibility of its abolition.Or set up a rule on all tax and social niches, "said Thursday the prime minister. In other words, the planing.

In late January, in an interview igaro F, Francois Fillon was e indicated that the government does would create "no more". "Then we must question their effectiveness: some of them are not, or more strategic. We will limit the other in time – to force us to regularly check if they meet their goals – and minimize their ceilings, "he explained.

Decisions mid-May

The government has made a religion on the subject for many months already.For even if the deficit was revised slightly downwards for this year – 8% of GDP instead of the initial estimate of 8.5% – a considerable effort will need to be made to the path of public finances on leave again the right slope, having slipped sharply during the crisis.

Politically, addressing niche has an advantage: it is the best way to increase taxes without seeming to. But the task is not easy technically. Touching the niches that benefit businesses? The government is not keen, not to nibble again their competitiveness, it has worked so hard to restore it elsewhere. Last week, Secretary of State for Employment Laurent Wauquiez, was thus excluded from the touch – even slightly – to employer contributions, because "the relief load is undoubtedly the policy tool of the job more effective. "It finds that, according to the minister, a report issued a few weeks ago by the Inspector of Finance, Jean-Luc Tavernier. According to the report, 21 billion of relief support enjoyed by companies on low wages would save between 600 000 and 800 000 jobs. Unable to touch in times of high unemployment.

Addressing niche enjoyed by individuals? Difficult also, without taking the risk of being accused of sacrificing the wallet of the French. On this issue, the prime minister has also several reports in his drawers for the inspection of Finance. One focuses on tax loopholes related to inactivity. Another niche on the taxation of savings. One thing is certain: the topic will be addressed at the national conference of the deficits projected for mid-May Nicolas Sarkozy has already announced that the decision "important" would be taken.

On only two months of the year, the Greeks withdrew from their bank accounts around 4.5% of the total money in the country's banking system, according to the Central Bank of Greece.

The four largest Greek banks – National Bank of Greece, EFG Eurobank, Alpha Bank and Piraeus Bank – bemoan the evaporation of about 10 billion euros of bank deposits, and implore the government to help, the Financial Times in its Thursday edition.

George Papaconstantinou, the finance minister said Wednesday that all banks had asked for the remaining 28 billion euros of financial support plan provided by the state banks at the height of the crisis in 2008.

Yields never achieved

These calls for help comes as Greek interest rates hitting record highs this week.Wednesday afternoon, the yield (rate) of the Greek requirement to 10 years reached 7.176%. Greek and yields move away from the benchmark, the German Bund, the gap between the two are digging more than 400 basis points (4 points).

Markets reacted to the ruling of Athens, that the measures proposed by the IMF are too severe. "This is one reason, but there are others, as investors are forced to sell because interest rates are now too high," said Jean-Francois Robin, an analyst at Natixis bad credit payday loans .

Some are forced to unwind their positions in part because of the Basel II regulations."The number of potential investors has reduced and the purchase is," said Ciaran O'Hagan, of Societe Generale.

The National Bank of Greece will be "heavily impacted"

As a market leader in deposits, the National Bank of Greece "could be greatly impacted by the movement of outflows affecting Greece since the early beginning of the year," noted analysts at Natixis in a note published Thursday morning, which degrades the value to "ease" cons "before buying" and lowers its price target from 19 to 15 euros.

According to the broker, bank, however, is "the best equipped to deal with the crisis with a Greek core tier 1 ratio (reserve ratio) by 9.4%, and high exposure to Turkey, whose performance in 2010 should offset the slowdown in Greece.

ALSO READ:

"Greece" The market is disconnected from reality "

"The Greek interest rates are at record levels

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."

ALSO READ:

"The" Conti "are offered a position in Tunisia …

"When the state interferes in the affairs of industrial

Wall Street is expected in the red pre-meeting Tuesday. At the NYSE, the Dow Jones, Nasdaq 100 and S & P 500 retreat respectively of 0.05% at 10,548 points, from 0.13% to 2329 points and 0.23% to 1,136 points.

U.S. operators will choose to pocket a share of the gains made last week by caution before a salvo of indicators in the coming days. Especially since the main stock index hit a "low point" there is exactly one year, March 9, 2009. Since the S & P 500 has started the largest rally in history. In one year, the U.S. index has increased by almost 70%!

The next U.S. statistics are expected tomorrow with the traditional weekly report on unemployment. Weekly Market in the United States, will then be placed under the sign consumer.The two major economic indicators this week, published Friday, will be the sales details for the month of February and the preliminary estimate of consumer confidence.

The euro continued its decline against the dollar Tuesday, settling below $ 1.36, penalized by renewed concerns about Greece and the risk of contagion within the euro area, while the market remains cautious vis -?-vis a possible European Monetary Fund. At the opening of the NYSE, the euro bought 1.3562 dollars (-0.42%) against 1.3631 dollars late Monday teletrek no payday advance