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A French trader loses billions of dollars to JP Morgan

admin — Sat, 12 May 2012 04:08:06 +0000

JPMorgan announced after the close of U.S. markets heavy losses of over 2 billion following the massive purchase of products that were derived originally from the 2008 financial crisis. The CEO, Jamie Dimon, reported the losses of "litigation of approximately $ 200 million" and "pre-tax losses the brokerage of over $ 2 billion" during a conference call surprise. The boss of the first U.S. bank by assets added that these losses could still grow up to an additional billion dollars. The asset portfolio has complained yet "a lot of volatility," said the leader. "We will manage up", but "it could cost us up to a billion dollars or more" and "the risk will remain for several quarters," added the CEO.

Photo credits: LUCAS JACKSON / REUTERS

Thousands of demonstrators march against austerity in France

admin — Wed, 02 May 2012 00:36:07 +0000

Thousands of people started marching Tuesday across France to say no to them according to the austerity imposed by the European Union and call for a genuine policy of growth to five days before the second round of presidential elections.

Nearly 290 processions are announced by the CGT, one in the afternoon in Paris, where walkers will have been preceded by a National Front demonstration and where they will parade during a political rally organized by the outgoing president.

The inter-union (CFDT, CGT, FSU, UNSA and Solidaires) promises that there will be no political message on the banners of the first parades in May, but the CGT, unlike other organizations, called for " beat Nicolas Sarkozy. "

In Marseille, about 20,000 people, according to unions, protested for a parade more social than political. "This gives it a special flavor, but we do not mean our demands immediate demands in the pocket," said the delegate county of the CGT, Mireille Chessa. The banner head behind which all the unions, with the exception of FO, marched, summed up this attitude. "Against the austerity policies, workers united for social progress" could be read. Fralib employees, who for nearly two years to oppose the closure of the last site in France to make the teas The Elephant, opened the procession.

In Bordeaux, more than twelve thousand people walked the streets of the city. A response far greater than a year ago, according to organizers. "We believe the participation of 15,000 people," welcomed on behalf of the Inter Cathy Sargenton, spokesman for the CGT Gironde. She said only 3,000 people were mobilized during the May 1, 2011.

Between 10,000 and 40,000 demonstrators, police or the organizers, marched through the streets of Toulouse, where slogans against the outgoing president did not fail. The banner head, badged CGT, CFDT, UNSA and FSU, was as traditional themes such as defense of trade unionism in wages, employment or public service, but most political slogans have also fused. Unions have strongly mobilized in Rennes. CGT announced the presence of 10,000 people when she had recorded that in 1250 the last year. The prefecture has reported a provisional figure of 6,000 protesters. Where the band head of the Inter-CGT, CFDT, FSU, UNSA and Solidarity stood by social demands on employment, pensions, purchasing power and the struggle "against all discrimination," the The atmosphere was much behind policy.

Holland in Nevers to honor Beregovoy

About 1500 people marched in 4500 in Strasbourg and Mulhouse, according to a statement made on site by Reuters, a significant interest in Alsace, while the region is in middle of spring break and the CFDT was not involved, as organization, in the event high quality business cards.

In Strasbourg, where employees of the Caddy truck manufacturer, in receivership, opened the parade, only a few slogans directly recalled the presidential election, as "If you're against Sarkozy, clap your hands", sung by the Orchestra of the CGT.

In Paris, delegations from the Socialist Party and the Left Front should remain in the rear of the parade as not to hinder the trade unionists and Francois Hollande has chosen to honor Nevers (Nièvre) to Pierre Beregovoy, the Prime Minister Francois Mitterrand, who s 'committed suicide there are exactly nineteen years.

Union leaders see as a "provocation" of Nicolas Sarkozy's decision to hold its own gathering on the job after reporting since the beginning of the campaign "these intermediate bodies" that are the unions.

"On 1 May for the workers and anyone else," said Francois Chereque on Tuesday BFMTV. The secretary general of the CFDT, which does not give instructions to vote, said the speech of Nicolas Sarkozy on the job has become "unbearable." "Every time there was a takeover in the history of politics on this holiday (May 1, Ed), was derived in a context of undemocratic," he said Monday in an interview published by Liberation.

Thibault argues for a social Europe

The secretary general of the CGT, Bernard Thibault, has instead confirmed he called to vote for Francois Hollande. "The CGT called to fight the current president," he said on Europe 1. "I am surprised that some are surprised that a union of employees can have an opinion about the issues of a presidential election."

"It's from the social balance sheet, economic and president of his intentions – among his first, he wants to, as the employers claimed, a reform of the definition of termination for economic reasons," that this position has was taken, he said.

The SGC requires a minimum wage to 1,700 euros per month and expects Francois Hollande, who has promised a big meeting with the social partners if elected on May 6 before deciding, he goes in that direction very quickly. Bernard Thibault believes that the austerity measures introduced in the European Union led the latter to the disaster and calls for a social Europe.

To better themselves as "unifier" Nicolas Sarkozy faced with a "who wants to divide", the Socialist candidate Francois Hollande has sent a letter to leaders of the five confederations. He reiterated his promise to do major players in the next five years if they win.

Holland "dangerous" according to The Economist

admin — Fri, 27 Apr 2012 06:32:06 +0000

The Economist, to be published next Saturday personal loan for poor credit.

The Paris Bourse opens up slightly

admin — Wed, 25 Apr 2012 11:36:10 +0000

Arab countries are struggling to revive their economies

admin — Tue, 27 Mar 2012 07:44:09 +0000

Winter has succeeded in the spring. And there will be a long and rigorous. A year after their revolutions, the Southern Mediterranean countries are struggling to revive their economies and attract investors. "Basically, the region is divided between one side Morocco, whose economy increasingly resembles that of an emerging country, or Algeria, which is maintained by its raw energy, and across the country whose economy raises concerns and questions, "says Dov Zerah, CEO of the French Development Agency (AFD).

In Tunisia, Egypt or Jordan, the economic situation is worse than in 2011, threatening the stability of governments in place and risk being cast new popular upheavals. "We must grow by at least 5% to stabilize unemployment in the area and in all likelihood we will be well below 2012," said Amal Chevreau, project manager within IPEMED. "Even in Morocco, the expected initial increase of 6% of GDP have been revised downwards, mainly because of drought."

The panorama offered by Tunisia and Egypt is that of weak growth leading to a fall in tax revenues and widening budget deficits at a time when governments, yet fragile, can not cut public spending so as not to stifle their populations. After falling 1.8% in 2011, the Tunisian economy in 2012 still deals in the red. The current account deficit widened to 7.4% of GDP and the budget deficit well over 4% this year.

"Holding back investors'

In Egypt, the situation is equally alarming: according to Alexis-Marchay Karklins, head of emerging from Ernst and Young, Egyptian growth to be between 1% and 1.5% this year, leading the deficit budget around 10% of GDP. Worse, foreign exchange reserves of the Central Bank of Egypt fell by more than half within a year from 36 billion in 2010 to 15,000,000,000 in late 2011. Bleeding that led the rating agency Fitch to downgrade the rating of Egypt to "BB-". Cairo is conducting difficult negotiations with the IMF for a loan of about $ 3.2 billion. Also to avoid having recourse to such an extreme, Tunis, meanwhile, quietly knocks on the door of international lenders to obtain loans.

But the real concern is the fall in investment. Uncertainties regarding the political situation of these countries has combined the brutal fiscal crisis through which Europe, which has significantly dried up the flow of capital available. According to figures compiled by Anima Investment Network, which need to be refined in the coming weeks, the number of investment projects fell by nearly 25% in 2011 in the 11 Southern Mediterranean countries. A heterogeneous block masking disparities since in alongside Algeria, Israel and Lebanon, which fell slightly in 2011 after a sharp rise in year 2010, there was a fall of 32% of investments in Tunisia and more than half in Egypt. In 2011, Libya has received only 17 external projects and Syria 14, mainly concentrated on the first part of 2011 before the country from tipping into civil war. In total, the area received about $ 28 billion of investments, amounts equivalent to those of 2009 – year of the international financial crisis.

The partnership of Deauville was not required

"The reluctance of investors is not the most worrying, says Emmanuel Noutary, déléguégénéral Anima Network. The problem is the types of projects which are mainly invested in recent years, and mainly relates to major infrastructure or energy to create less jobs than other sectors. "Typical example, the Gulf countries, realized an average investment of 500 million euros (40 million against an average for investors from other countries), while "the most urgent investments to create jobs related to smaller local projects around the food, education or industry. "

The anxiety is palpable as the next major donors. Symbol of the malaise surrounding the partnership of Deauville in May 2010 had promised to unlock $ 38 billion investment over 10 international financial institutions over the next three years. Less than half of these commitments have been met. Thus, the European Investment Bank (EIB), through its armed wing in the area, the FEMIP should provide 2.6 billion euros. It has not yet released a billion, of which 734 million euros to Morocco (a record for that country) but only 303 million euros to Tunisia.

"The view remains fragile in the short term, however, investors would be wrong to abandon the area," says Alexis Karklins-Marchay at Ernst and Young: "North Africa is the ideal gateway for Europeans in a continent will experience tremendous growth in the coming years. "Enthusiasm for the moment few donors really dare to share.

Al Jazeera delights the Europa League for Canal +

admin — Sat, 18 Feb 2012 21:16:05 +0000

Yesterday, Al Jazeera Sports has won another round in its development strategy in French football. The future French declension with the Qatari called to emerge by June, has indeed been assigned by the UEFA some of the TV rights for the Europa League, together with M6. This was announced yesterday that European football's governing body on its website, thus satisfying one of the objectives of management for future pay-sports channel.

Rights doubled

For 16 million euro under the Team, both chains will share thus the spread of the second largest European club competition, over the period 2012-2015. Jackpot for UEFA, who sees and double the previous revenue received from Canal + and M6 for this competition (8 million). But bad news for the encrypted string, which is seen again reduce its offer football, in a leak of its journalists to Qatar chain (see below).

For football fans, this new distribution rights for the Europa League should not cause major upheaval. The best match of each day will be broadcast on free DTT subsidiary of M6: W9, and summaries after each match night. In the presence of French clubs, "the meetings of the semifinals and final will be broadcast on M6" said UEFA. For its part, the future chain headed by Charles Bietry obtains the rights to all games, "including the final online payday loans." The latter, still officially called Al Jazeera Sport but that could take the "Be In Sports," will broadcast at least two live games, as well as summaries highlight each evening meeting.

Build the program schedule

By this new blow, and Charles Bietry continues building the program schedule of Al Jazeera Sport, which will have not one but two stations, broadcast 24h/24. The acquisition of sports rights is a priority to fill the boxes of these new entrants in the audiovisual paying, created ex nihilo. Management has also not hidden his determination to focus also on other sports. In this war to sports rights in football, Canal +, however, can claim to have kept, with 13 choices of the Champions League and the top two of each day in the French league (L1), posters and more attractive.

Faced with the Champions League, bringing together the best European teams of clubs, the Europa League is indeed a second best competition at European level. Until the launch channels that will validate or not this quantitative strategy, the Qatari channel may soon increase his offer with obtaining rights much more attractive to the Euro 2012 football and 2016, which have not been assigned by UEFA.

Canal + ranks swell those of Al Jazeera

Darren Tullet worked on Canal + in 10 years.

admin — Mon, 31 Oct 2011 08:00:29 +0000

In the wake of the Tokyo Stock Exchange, which ended down down 0.69% on Monday, the CAC 40 is expected to open in the red. According to the index futures, it is expected to drop 1 to 1.1%. Given that last week he had gained more than 5% overall, to 3348.63 points, driven by an agreement on the European debt crisis.

Markets should react to the decision of the Japanese government, which is again intervened Monday on the foreign exchange market to weaken the yen. The Japanese currency had to break a record of force against the dollar, threatening the economic recovery of the archipelago. Result: The euro retreated against the dollar and the yen on Monday, as the greenback. Around 8 am, the euro was worth 1.4008 dollars against 1.4156 dollars on Friday at the same time. Faced with the Japanese currency, it rose to 111.02 yen against 107.31 yen yesterday.The U.S. currency climbed against the yen at 79.26 yen against 75.81 yen yesterday.

For its part, the European Financial Stability Fund (EFSF), the main tool to combat the crisis, saw its credit rating "AAA" confirmed by the three rating agencies, Standard and Poor's, Moody's and Fitch. In addition, over 90% of large banks asked to take part in the Greek debt relief have responded positively to the agreement, said the Institute of International Finance (IIF), an association of the largest banks in the world payday advance.

Europe seeks the support of the G20

Investors will also have their eyes turned towards the United States, where a meeting of the Fed is expected Wednesday, but also to Cannes, where Europe should have its anti-crisis plan at the next G20 summit.

Oil prices were up moderately Monday morning as investors agreeing respite from the soaring successor to the announcement by the Europeans of an agreement to resolve the debt crisis. The barrel of "light sweet crude" for December delivery gave himself 14 cents to 93.46 dollars in early electronic trading. Barrel of Brent North Sea crude for December delivery gained 21 cents to 110.12 dollars.

Values to follow

• EDF Friday asked the Financial Markets Authority (AMF) to investigate the drop in its share price attributed to a newspaper article that the Socialist Party and the Greens are about to sign an agreement providing for election closure of nuclear power plants.

EDF and GDF Suez winners of competition

admin — Tue, 25 Oct 2011 04:24:09 +0000

Earlier this month, GDF Suez officially celebrated very millionth customer to the electricity in France, "a success despite a complex and uncertain competitive environment." The energy group was immediately assigned the 1.5 million customers at the end of 2012. If it passes this course, GDF Suez will claim 4.5% of the electricity market in France, against 3% today.

For its part, EDF is less verbose but the electrician had lights in late September some 595,000 residential customers in the gas.In 2010, sales of natural gas to EDF to its end customers in the Hexagon were approximately 21.4 terawatt hours (TWh), representing a market share of 4%, all segments.

On the one hand, a gas operator that grows in power, on the other, an electrician who took off in the gas: in theory, liberalization of energy markets in France shows its dynamism, this except that this development benefits first and foremost the two companies formerly a monopoly – one in the gas, the other in power. However, on their original business, each ultradominatrice remains, as evidenced by the overwhelming majority of consumers who remain loyal to regulated tariffs.

Click on the thumbnail to enlarge the graphic.

"The situation is not very surprising, both groups have a great reputation with consumers, said Xavier Caitucoli, CEO of the alternative supplier Direct Energy. To fight against them, we start with ball feet. "This does not preclude ambitions: after taking control of the other independent Poweo – which will be operational in early 2012 – Direct Energy will build a portfolio of one million customers – residential and business – in the gas and electricity payday advance lender. It is thus the only real challenger of the two giants.

How to reverse this trend which EDF and GDF Suez are the big winners from liberalization? "A better understanding of the system is indispensable.Our barometer shows that only two out of three French know they can change their energy supplier, says Xavier Caitucoli is the same number that ignores the opportunity to return to regulated tariffs after having left them. "

One Bill Power

This lack of information goes a step further. According to studies of the Ombudsman and the National Energy Regulator, over a third of consumers believe that EDF and GDF Suez form a single company. Under these conditions, one can legitimately ask how many electricity customers GDF Suez know they have left EDF and vice versa for gas customers of EDF.

This confusion can be exploited during a move: the customer who has just moved called GDF Suez, for example asking for the commissioning of the gas and the adviser asks him if he wants a single gas and electricity bills.If he says yes, the consumer is unaware that he has an offer to purchase electricity at market prices on behalf of an alternative operator.

Although it has many tools available to the consumer, the National Energy Ombudsman is not legally competent on issues of contract formation. Anyway, this is not what will hinder virtually unchallenged domination of the two incumbents.

4S 4 million iPhone sold in 72 hours

admin — Tue, 18 Oct 2011 08:28:21 +0000

New record. In three days, Apple has sold 4 million iPhone 4S in the world. The previous record, held by the iPhone 4 in June 2010 was $ 1.7 million. In other words, 72 hours, the firm at the apple has generated at least $ 1 billion in sales in one device. The success of the iPhone 4S may seem paradoxical. This new model, unveiled in early October had received a mixed reception. He had even been deemed "disappointing" by some experts, who expected an iPhone 5. But for the general public, it has all the five, except the number. Contrary to form, Apple has also chosen to launch immediately six versions of its smartphone, available in 16, 32 and 64 gigabits, black or white. And that was over a year that Apple fans waiting a new version of 'their' phone.

On the commercial, the brand has benefited from the generosity of telecom operators no fax cash loans.While the iPhone 4S is priced starting at 629 EUR without subscription, SFR proposed to 129 euros with a subscription. The offer was so successful that he is out for the operator. In the U.S., the iPhone 4S is available from $ 199, with a subscription Wi-Fi in three operators.

It is also difficult not to link the commercial success the emotion aroused ten days ago by the death of Steve Jobs, the founder of Apple. Testimonials from fans vowing to take their phone to replace it with an iPhone 4S in honor of its inventor had multiplied. They probably kept his word. He had never sold as many copies of an electronic device in such a short time.

Why the stock market prefers to Carrefour Casino

admin — Tue, 11 Oct 2011 01:40:13 +0000

The difference in performance between Carrefour and Casino is evident on the stock market. Since January 1, Casino lost 18% against 41% for Carrefour. Over five years, fell by 8% Casino and Carrefour tumbles 64%. Despite a difficult French market, Casino manages to get its game against Carrefour. Casino has managed on several points.

A successful international expansion

Casino has succeeded mainly in some countries. The group of Latin America's main platform for international expansion, although the group has some nice success in Asia (Thailand and Vietnam). First, it is Brazil, where Casino owns jointly with its parent company Rallye, 48.1% of CBD Grupo Pao de Açúcar. The success of Casino in the country had also been salivating Carrefour and its shareholders. They had tried to orchestrate a merger that was not the taste of Casino.

A successful real estate subsidiary

Casino can also count on its real estate subsidiary Mercialys. It is worth 2.56 billion euros for a wealth of 2.54 billion euros. In fact Carrefour has assets, much larger, estimated at 15 billion euros. But its real estate subsidiary project fell into the water.

Little excitement in the shareholding

At Casino, ownership has been stable since the merger in 1992 Rallye and Casino. Jean-Charles Naouri has locked the capital since its holdings Rally and Kerrous hold 51.09 and 6.49% of shares. Brother Albert is a quiet and faithful shareholder with 1.7% of the capital. At Carrefour, the float was very important before Bernard Arnault and Colony Capital will invite themselves to capital. They jointly hold nearly 14% of the shares 100% free credit score.

Governance, clear and precise

At Casino, Jean-Charles Naouri decides.At Carrefour, the change of presidents have succeeded without success. Since the departure of Daniel Bernard, nor José-Luis Duran or Lars Olofsson have managed to revive the company. On the contrary, records against Carrefour-performance, particularly in France.

To a satisfactory third quarter Casino

Wednesday, October 12 evening, Casino will publish its revenue for the third quarter. While billings should not proceed at a pace as rapid as in the first half (+18.8%) but growth is expected to remain satisfactory. Unlike Carrefour, Casino relies on strong performances in France.

The stock options

These findings illustrate the past, but investors should now focus on the analysis of the perspectives of both groups. From this point of view, the stock options is tricky.In fact, Carrefour has fallen very low and it is difficult to imagine a new fall of the action. Carrefour has suffered a lot of hedge fund strategy of buying and selling Carrefour Casino uncovered. Most of the fall of Carrefour is behind us. The recovery will take time but it should be occurring at one time or another. Casino has a real advantage for the shareholder, the group pays a regular dividend and generous. Those who want to enjoy a very high efficiency can also turn to rally, the parent company of Casino.