The main reason for this marked improvement from a sharper than expected decline in provisions for bad debts. Good news for the business which enables it to offset declining revenues from its business markets.His provisions for risk of loss on credit and have declined from 53.9% to 1.08 billion euros.

In a statement, BNP Paribas said to be "ahead" on its program of synergies from the integration of the Belgian bank Fortis acquired last year, with 402 million euros of synergies on a target of 900 million.

Good performance of the retail banking

In corporate finance and investment, the decline in profit before tax is also less than expected at 16.4% in the second quarter against 20% expected by the market. But the bank sees its retail profit before tax more than doubled.A good place to France, Italy and the Benelux countries plus the recovery in Europe and the Mediterranean area and the U.S. subsidiary BancWest Payday Loan for Bad Credit.

Another source of profit growth comes from the pole Investment Solutions, which includes asset management, private banking, insurance and securities businesses.He took advantage of the favorable momentum of insurance as well as higher costs lower than revenues.

The second quarter 2010 was also marked by a "very unfavorable market environment, characterized by extreme volatility and less liquidity fueled by worries of some investors on European assets," said BNP Paribas.

Earnings in the first half increased 38.8% to 4.39 billion

For the entire first half, the Group's net banking income amounted to 22.704 billion euros, up 16.6% over the first half of 2009. At constant exchange rates, revenues were stable (+0.2%) over the same period. Good cost control management (-1.4%) enables the gross operating profit to grow by +2.3% to $ 9.694 billion.With the sharp decline in the cost of risk, down by almost half over the first half of 2009, net income group share falls to 4.39 billion euros, up by 38.8% the first half of 2009. Thus, half-year net earnings per common share amounted to 3.6 euros (+25% compared to first half 2009).

According to data from the letter Mediaworks (published by Advertising Age), the American edition of Vogue has collected more than 532 ad pages for its September issue. The monthly emblematic of Condé Nast, the editor in chief Anna Wintour is considered one of the most influential women in fashion, and recorded a jump of 24% compared to September 2009. His little brother Glamour displays him, insolent growth of 57%.Encouragingly for newspaper publishers, the numbers of school in September "often marked the launching of new campaigns that will be broken until the end of the year, as outlined in Mediaworks Mary Morgan, Vice-President Hearst and editor of Redbook magazine. At Hearst, Harpers' Bazaar also provides a number with 12% of additional pages of advertising compared to 2009. As for Marie Claire, also published by Hearst in the United States, the stock has gained 37%.

The September women's magazines, taken across the Atlantic as the real barometer of pub magazine confirm the recovery that began in the media since last January after a 2009 killing more than 400 titles were closed last year, according Publishers Association of American magazines.

Support major advertisers

Badly, the press nonetheless a very powerful medium in the United States. It still represents 35% of investments in the country pub, or 44.13 billion dollars gross, against 28% in France, according to Kantar Media No fax cash advances. Magazines weigh alone, 18% compared to 16% of this family newspaper in France. Especially, as stated Dordor Xavier, managing director of PMS (Union of the magazine), the press is more favored by the largest advertisers in the U.S. than in France.

Procter & Gamble spent like 40% of its investments pub in this medium, behind TV (56%). The group is more "cautious" in the diversification of its French investments: TV predominates at 77%, the press is merely 6%."A challenge, is Xavier Dordor for publishers in France, which have known, too, a reversal from the first half of 2010. Gross revenue (+7.5%) and pages of advertising (+3.9%) are rising again.

And September has got off to a good start. Valery Camy, executive director of the board of Mondadori France (Grazia, Biba, Star TV, Auto more …) indicates that the return, "under the sign of pragmatism after a first half marked by anticipation of recovery, which benefits from a trend in favor of consumption and the willingness of brands to win market share. Romatet Xavier, CEO of Conde Nast France, confirmed that "the trend remains positive" but said that "what was lost in 2009 has not been returned. We are not yet at the level of 2008, record year, but 2007. "To strengthen, press marks 'strong' must, he said, demonstrate "greater creativity and on event.

Thanks to a unique set up for its 90 years, the number of Vogue dated October "and should beat its record swap advertising," he promises.

ALSO READ:

"New" tricks "of U.S. news sites

"The American press is reinforced on the web

"Resuming advertising more than expected

"Rebound in online advertising in the United States

Since the last such exercise, the hexagonal landscape was shaken by the gradual opening of markets to competition in gas and electricity, as well as the Grenelle Environment, described by the IEA to "environmental program impressive "to" ambitious goals ".

Railing against regulated tariffs

On an issue that directly affects the consumer, the Agency challenges the national system of pricing.For the IEA, champion of the liberalization of the electricity market, as Brussels, regulated tariffs, both for households and industrial customers will not endure. If they do not reflect costs, regulated tariffs create a "market distortion". The fee charged in France do not reflect the cost, very heavy, setting up new nuclear reactors, the development of EDF's 58 reactors have been widely supported by the state.

In this context, the IEA applauds Nome Law, adopted June 15 by the National Assembly and still under review by the Senate, providing access to EDF's competitors to some of its electricity from nuclear power.The tariff, subject to a brawl between EDF and its competitors will be determined by the Commission for Electricity Regulation (CER).

Access to electricity in question

The report also highlights the weakness of the French system to meet peak electricity demand and reiterates the risk of faults in some regions (Brittany and Provence-Alpes-Cote d'Azur). An increased risk by the "limited availability" of nuclear power, which in 2008 turned to less than 80% of its capacity due to various incidents.

The IEA also interested in access of the poor to electricity. In late 2009, 800,000 households benefited from social tariffs for electricity and 400,000 gas. However, eligible households would total 2 million and 1 million respectively. The IEA has accused the government of inadequately informed about the tariffs that have helped cost the state 90 million euros.She recommends simplifying access, too bureaucratic.

Finally about renewable energy, the report points to the cumbersome administrative procedures to locate wind turbines.

A little sleepy at the opening, the market has moderated in the afternoon, once known the results of resistance testing in European banks. On the macroeconomic front, the meeting was very quiet. No major indicator was expected in the United States.

From the values listed, investors will react to another round of results published the day after the close of Wall Street.

The U.S. computer giant Microsoft seems to have turned the page on the economic crisis with a quarterly profit up 48% year on year, better than expected, more than 4.5 billion dollars. Over the year, net income jumped to 18.760 billion dollars, up 29% and sales to nearly $ 62.5 billion, up 7%. As the leaves 0.12%, to 25.81 dollars.

Always on the side of values, the Internet retailer Amazon has posted Thursday a net profit increase of over 45% in the second quarter but below expectations free credit report and score. The penalty could be severe since the title has lost up to 10% at the opening 109.61 dollars.But ultimately, he only has left only 1.05% to 118.81 dollars.

The credit card issuer American Express American issued Thursday a net income group share increased by 3 over one year to over $ 1 billion in the second quarter. The group was encouraged by the recovery of expenses of its customers and lower defaults on credit cards. The stock has gained 3.70% to 44.79 dollars

Note also the flash memory maker SanDisk has announced a quarterly benefit of $ 257.9 million slightly exceeded expectations. The turnover was 1.18 billion over the quarter against 730 million last year. "The U.S. market is recovering quickly (27%) and becomes profitable, but significant uncertainties remain safe with the new law on the distribution of consumer credit" note the experts at Aurel BGC.The group remains very cautious on the outlook for activity in the United States.

All contracts would therefore be blocked, except for rush orders, notably for French soldiers engaged in overseas operations.The amount of contracts outstanding for the year 2010 amounts to 300 million euros, according to a source close to the case examined by the Tribune.

"But it is not a cancellation of these orders" the AFP said a source close to the Minister of Defence. Contracts blocked "are mostly" preliminary studies "(to prepare weapons programs), it does not spread in time."

Concern Thales

Thales is undoubtedly the most affected by the punishment of the Department. In addition, the group currently has to face the distrust of rating agencies dissatisfied savings plan of 1.3 billion euros that the industry announced last December, Moody's downgraded, earlier this week, the debt rating of the group's long term by one notch to A2.

The anxiety is palpable within the group: "We are heading for disaster," confides a source in The Tribune. The business daily estimated 135 contracts between the ministry and Thales could be frozen.

Safran, less dependent on state orders, is more serene. Its leader has displayed his optimism for the year 2010-2011, and reiterated his desire to remain independent, denying recent rumors of a merger with Zodiac.

Total wants a declaration that the information and consultation procedure has been "completed". And even if the court believes that the procedure was "initiated with delay", Total highlights the fact that "the employee representative bodies have been able to exercise all powers vested in them" and they have suffered "no harm".

"Their last cartridges"

For Philippe Wullens, Delegate South (majority site), this reaction was expected. Management would have announced in June that it would form a further appeal against the decision of the Court of Appeal. According to Steward, the leaders of Total fired "one of their last cartridge." Roger Koskas, counsel employees, estimates that total attempts to circumvent the decision by the Court of Appeal of Douai. Beside him, his brother, Patrick Tillie declares itself "not too pessimistic."

The hearing will be held September 17. According to two lawyers, Total has so far done nothing to comply with the decision of the Court of Appeal, despite a daily fine of 100,000 euros. For the moment, neither the group nor his lawyers could not be reached.

ALSO READ:

"Dunkirk: EDF is a blow to Total

Then, a theater, after the closure of European markets: Moody's has severely degraded the note of Greece, four notches. The rating agency believes that the rescue plan launched by the country is useful but that accompanying measures are risky. Therefore, the U.S. indices swung around and eventually declined.

Thus, in early trade, the benchmark index of the Paris fell 0.73% to 3599 points, in the 3600 points. Elsewhere in Europe, even gloom: the DAX index of thirty blue chips of the Frankfurt Stock Exchange opened Tuesday down 0.58% to 6089.32 points.And the London Stock Exchange lost 1.02% over the closing Monday at 5,149.15 points.

But in the morning, the indices rallied. Around 10:30 am, the CAC tu the waterline, and then at 11:30, taking the index 0.55% to 3645 points. London was still in the red despite soaring 20% of the satellite TV operator BSkyB, moving well above the price offered by its parent News Corp..

On Monday, the confrontation between indicators showing continued recovery and increased uncertainty about the outlook for next year, caused a major increase in the "volatility of volatility".

The euro was maintained around 1.22 dollars on Tuesday morning.For Herman Van Rompuy, Chairperson of the European Council, "the markets have been too lenient in the first ten years of life of the euro, now they do overreact to minor incidents."

Zew, unemployment in Europe and U.S. industry to follow

The barometer Zew index, confidence in financial circles about the situation of the German economy, fell 17.1 points in June, reaching 28.7 points, a fall far greater than anticipated by analysts .European indices during a lap time dropped out before resuming their overall trend.

In Strasbourg, European Parliament, held today a press conference of the European Commission issued its opinion on the efforts made by twelve countries, including Spain, France, Portugal and Germany, to reduce their deficits Excessively easy pay day loans.

In the U.S., the import prices in May will be announced at 14:30, and industrial activity in and around New York for the month of June

Electricity: Bill Nome voted today

EDF (-0.28%), GDF Suez (-0.83%), and Poweo (cal) for attention while the National Assembly must vote on the bill Nome on the market organization of electricity.

According to the Socialist deputies, this reform will result in an increase of 11% to 15% of electricity rates for individuals. An interpretation strongly denied the meeting by the Minister of Ecology Jean-Louis Borloo: "I heard here and there that there could be increases in fares.Of course not! "

France Telecom: -0.5% to 15.2 euros Orange will now be able to practice cross-selling, the Competition Authority has ruled on Monday that he could, like its competitors Bouygues Telecom and SFR, use it cross your files mobile and internet customers, so far apart.

Such notice "limit the competitive disadvantage imposed on France Telecom" which, as operator of history, is subject to a number of constraints by the competition law, the group responded in a statement.

Banks Nicolas Sarkozy and Angela Merkel will militate G20 for the creation of a tax on banking and financial transactions. The idea of an economic government of the 27 has also been mentioned.

Societe Generale 0.11% to 35.08 The bank maintains its investor day on Tuesday.Already this morning, SocGen unveiled details of its strategic plan "ambitious."

She also announced Monday night that forged a business alliance in the securities business with U.S. Bancorp Fund Services, a subsidiary of U.S. Bancorp U.S. Bank.

In turn, Credit Agricole fell 1.1% to 9.2 euros. BNP Paribas fold from 0.6% to 47.12 euros.

Car Registrations of new cars fell by 9.3% in the EU in May The end of car scrapping in several countries to fear that the larger decline in the second half.

On Tuesday morning, Peugeot shows the largest decrease in the CAC 40, yielding 1.4% to 21.9 euros. Renault drops 0.75% to 31.2 euros.

Video Games This opens Tuesday in Los Angeles at E3, the world exhibition of video games. To be followed, any announcement on the sector.

The discovery was made by a small team of geologists and Pentagon officials. According to the U.S. daily, they relied on maps and data collected by the Russian mining experts during the Soviet occupation of the 1980s. After the withdrawal of the Soviet Union, the Afghan geologists had concealed these documents do show that after the fall of the Taliban in 2001.

To believe the U.S. administration officials cited by the newspaper, these deposits across the country, would be sufficient to make one of the world's leading exporters of minerals.For example, its own reserves of lithium – a highly sought component, used batteries for phones and laptops – would put Afghanistan at Bolivia, for the first time holder of world reserves. An internal memo from the Pentagon even mentions a "Saudi Arabia of lithium. Kabul might also become a world leader in the production of iron and copper. Among other discoveries, large deposits of niobium – a metal used to produce steel superconductor -, gold and cobalt.

"A lot of ifs"

"This will become the backbone of the Afghan economy," said Jalil Jumriany, adviser to the Afghan Ministry of Mines."There's potential there amazing," exclaimed the other hand the U.S. General David Petraeus, chief of general staff, but added that "there are of course many 'ifs'" No Fax Pay day loans. The first of these is the ability to exploit these riches. Ravaged by war, Afghanistan does not yet mining and industrial infrastructure needed. According to U.S. officials, it will take decades for them to be put fully in place.

Second mortgage on the mining potential: the desires it arouses. Within the borders of Afghanistan on the one hand, where the resistance of rebel groups in south and east could well be exacerbated by the prospect of holding such veins.This, on the other hand, the regional powers – China and India, or Russia – which may well become more involved in the already complex geopolitics of Afghanistan. Two Chinese companies have already committed to invest four billion dollars in the Aynak copper mine, south of Kabul, is the largest foreign investment to date calendar in the country.

Finally, in a country already ravaged by corruption, the discovery of such a nest egg sounds like a challenge. Afghanistan will make great progress in governance for not being a victim, like so many before him, the "raw materials curse" and that they are actually a factor of development. President Hamid Karzai, who has recently been informed of these findings by a U.S. official has food on the plate.

The Barroso Commission and the Council President Herman Van Rompuy hope to get final agreement capitals in October. Next Thursday, the summit of Twenty-Seven to "take the first decisions and determine policy," according to a draft joint statement circulated in Brussels.

The United Kingdom retains strong reluctance and on the continent, elected officials criticized in advance a serious "democratic deficit". Since Monday, however, the EU control of each state budget before a vote in Parliament is subject to agreement by Ministers of Finance.This obstacle removed, the Council and the Commission intend to force the pace of the new fiscal governance.

"The heart of the device should be in place early next year," says Commissioner Olli Rehn, responsible for leading the exercise. This requires concerted attack the question angry: that the sanctions would be imposed on any country that neglects the collective discipline.

CAP funds threatened

The prior surveillance conducted by the Commission but also by the ECB, will focus on the broad outlines of the budget: total revenue and expenditure, compliance with the deficit targets agreed in common and likely economic scenario underlying the budget now payday loan.France, which is struggling to convince on its reorganization, will have to prove himself: "It must significantly step up its fiscal consolidation effort in 2011," Le Figaro said Commissioner Rehn.

The sanctions, they will have to be early, and immediate application, it is said Herman Van Rompuy. They will first be financial, since the European rules do not state the punishments appropriate policies by Berlin.

Two issues remain under discussion for 2011: the automatic penalties and the range possible. On the first point, the States want flexibility and entrust the collective decision to finance ministers. The Commission, she would almost mechanical application. On the second point, Brussels and the states leaning towards the option up.After a call to order, a country considered lax could see reduced aid from the EU "on the entire range possible," said a senior European official. In short: the regional funds, aid to research, EIB loans and of course farm subsidies. "It's a red rag in the eyes of many, concedes the representative of a large agricultural country. But it is also the logic of the new system. "

ALSO READ:

"The ECB is reviewing the European growth upward

"Everywhere in the world, the administration in the diet

It was a long ArcelorMittal looking to implement a major project in India. A similar agreement was thus created in 2006 to develop a huge site.The state of Orissa, north-east, had been chosen, but since the group steelmaker hardly be allocated land by local authorities.

Beyond the financial aspects, this new project is a highly symbolic Lakshmi Mittal. He might be born in Rajasthan, have raised and educated in Calcutta, the wire was broken long ago with his country of origin. If he cut his teeth in the small mill of his father, the tycoon starts very early in the assault on lucrative opportunities abroad. In Indonesia, Trinidad and Tobago, Mexico and Kazakhstan that makes the group a family empire of steel.

Other projects in northern India

The gap is widening even further in 1994 with the partition of the group. Lakshmi, his father and his two brothers did not agree and the company is split in two.In Lakshmi operations abroad to the rest of the family, the Indian Affairs. Since, like Anil and Mukesh Ambani, the richest two brothers of the world settle their disputes before the courts, Mittal have all the trouble in the world to reconcile. Incommensurate with the billions earned by Lakshmi, his two younger brothers were still able to grow and it is not uncommon for the two groups are fighting the same markets. Africa was the setting for these quarrels, in 2004 or 2008 in Liberia and Nigeria.

Gradually, Lakshmi was thus cut off from India. Yet holds an Indian passport, he could never win in his homeland. Stamped "NRI", acronym of Indians living outside their borders, it has long been criticized for its lack of involvement in Indian affairs.Ask in the streets of Bombay Indian captains of industry, the name of Mittal will systematically swept under the carpet, at the expense of the brothers Ambani, Ratan Tata or India's Richard Branson, Vijay Mallya.

With this comeback, Lakshmi Mittal India regilds therefore its image. Especially since the Indian adventure should not stop there way. In addition to this mill, ArcelorMittal plans to inject more than $ 20 billion in other sites in northern India.

ALSO READ:

Aditya, the "child prodigy" of the empire Mittal