International & World Report

Early June is synonymous with decline on Asian financial centers. On Wednesday, all indices of the region are pointing downward. Investors were not reassured by Wall Street, which yesterday closed at a net decline of 1.14%. After a weekend of three days in the U.S., the markets awaited him the reopening of the U.S. stock market to find direction. This only adds to their concerns.

Similarly, all European financial markets plunged, hit by renewed concern about the state of the global economy. Sealed by the bank, the European stock exchange experienced a very volatile session.

Resignation Japan

In Japan, the Nikkei index opened on a decline of 1.11% and then will start in mid-session with the eagerly awaited announcement of the resignation of Prime Minister Yukio Hatoyama center-left.The members of his own Democratic Party (DPJ) had repeatedly called for the resignation of a political leader to revive their chances of winning Senate elections scheduled for July 11. The popularity of the democratic leader, whose voters had doubts about the ability to govern, had indeed collapsed since his arrival to the business eight months ago.

"To revitalize our Party, we must make room quite clear to the Democratic Party. I ask for your cooperation, "said Hatoyama, fourth Prime Minister to leave office after less than a year in Japan.

The Nikkei jumped before exiting in the red

This announcement has benefited the Tokyo Stock Exchange rebounded 0.4%. But the rise was short lived.A few minutes later, the Nikkei fell 0.72% to 9,641 points as investors worried that instability and its impact on economic policy.

"Hatoyama's resignation could lead to delays in the planned announcement this month of the growth strategy and the government's fiscal targets. Whoever will replace Hatoyama work before the Senate elections, to disappoint the voters, "noted Hirotaka Kusabi, economist at Mizuho Research Institute.

The rest of the region follows

In China, investors are still trying to digest the bad news fell yesterday on rising inflation in the country (2.8%) and housing prices (+12.8%). This situation raised fears a bubble whose consequences are more serious than the subprime crisis, observers said.Midway, stock markets in Hong Kong and Shanghai respectively coward 0.36% and 1.60%.

Elsewhere, the same concerns: The Kosdaq Korean (-1.08%), the S & P Australia (-0.37%) down.

Only the Bombay Stock Exchange is in the green, showing an increase of 0.49%.

At Carrefour, the social climate is far from rosy. Dissatisfied with the management proposals as part of mandatory annual negotiations (NAO), the French unions of the retail giant called for the stoppage of work Saturday, the day of attendance in the group's stores.

In addition to a proposed overall increase of 1% of wages to be too thin, the negotiations foundered on the granting of a premium absenteeism desired by management. At a cost of 100 euros gross per annum, that would be assigned as a collective case of lower rates of absenteeism, store by store. In a supermarket whose average absentee rate is 10% – which is very high – for example, employees would receive the bonus if they manage to bring down the rate of 0.65% minimum.This device causes for the moment the ire of unions, which fear that employees absent from becoming the target of retaliation by their colleagues present.

"The absent?ime is an indicator of stress"

"We are opposed to such stigmatization of employees absent" outraged the CFDT delegate Sauzeau Christopher, who believes that management avoids asking the questions of substance. "Absenteeism is primarily an indicator of stress suffered by employees" says he, regretting the 5,000 jobs it eliminated by Carrefour in 2009. A visibly perceived hostility by management, that could change his tune. The human resources director of Carrefour, Jean-Luc Masset, said it had "saved the union position, and would think about."The progress of negotiations and new proposals likely to depend on the mobilization of employees on Saturday" predicted Christopher Sauzeau. If employees did not get satisfaction, a day of action on a larger scale could take place next April 30, the eve of Labor Day.

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"No increase in 2010 in 30% of companies

After closing in the red Thursday, almost all the CAC 40 woke up green this Friday at 4022.66 points, excited by the great increase of Wall Street. And closed, its momentum, to 4050.54 points, up 1.81%, exceeding its peak.

The London Stock Exchange and Frankfurt have also recovered well in the wake of Wall Street, buoyed by an upturn in consumer spending … The London FTSE 100 closed up 1.02% to 5770.98 points. The German Dax closed up 1.26% to 6249.70 points.

Thursday evening, the CAC 40 lost 1.20%. After rising almost continuously since February. The index had been weakened by fears of renewed solvency of Greece.

The lifeline of the ECB

Fears eased by the reassuring words of Jean-Claude Trichet, called "lifeline" by the Greek press.The President of the European Central Bank, rejected any risk of contagion to other countries, like Italy. He also assured that a default of Greece was "beyond question". In fact, the President of the European Union, Herman Van Rompuy, promised Friday that the Europeans are "ready to intervene if the Greeks call" and implement a plan of assistance involving the IMF, which Greece seems to want to avoid. French President Nicolas Sarkozy confirmed: the European Union is ready to activate its plan "at any time" bad credit payday advance.

These incentives have led to a rebound of the euro against the dollar above $ 1.34 this morning, then at 1.3385 dollars this afternoon. Volatility remains a must.After being stretched to 7.5%, the yield on loans to 10 year-old Greek, too, calmed a time, returning this morning to 7.2%. It said Thursday that Athens be able to reduce its deficit by 40% YoY in the first quarter.

The Greek situation remains fragile. The rating agency Fitch has lowered a few minutes from the end of Paris, noted the long-term debt of Greece, from BBB + to BBB-. This could well lead Greece to seek EU aid promised on March 25 …

According to strategists at BNP Paribas, investors await the issuance of treasury bills by Greece on Tuesday to assess the ability of countries to find core funding.Markets await the second season launch of results from U.S. companies, with Alcoa on Monday.

Side values, in Paris, the banks have been resilient, despite their exposure to Greece, to the tune of fifty billion euros. This does not raise "no particular concern, said Friday the governor of the Bank of France Christian Noyer, even if the French regulators monitor" closely "the situation.

The rising price of rubber has instead penalized cars, Michelin (-0.08%) signing the only declines the CAC 40.

Earnings accumulated by hedge fund managers in the United States broke records in 2009. Top 25 ranking by the AR: Absolute Return + Alpha have pocketed a total of 25.33 billion dollars (18.6 billion euros) including seven of them reap more than $ 1 billion.

This amount is more than double that of 2008 when the financial crisis had led to some heavy losses. The previous record was in 2007 with a total of 22.3 billion dollars.

The CEO of this classification is the founder of hedge fund Appaloosa Management, David Tepper. He received a salary of $ 4 billion by betting on particular banks in financial difficulties, refusing to believe that banks may collapse or be nationalized.

John Paulson lost his crown and took fourth place

Now the new record earnings.The precedent being held by the manager of Paulson & Co., John Paulson in 2007, with 3.7 billion dollars. He gambled at the time on a drop in property prices. This year, he ranks fourth with $ 2.3 billion.

It is preceded by George Soros, the famous American billionaire founder of Soros Fund Management, which has won 3.3 billion dollars, and James Simons of Renaissance Technologies, who pocketed $ 2.5 billion. They are respectively the second and third in the standings. They already had good performance with their hedge funds in 2008, like John Paulson, while that of David Tepper had lost 27% this year, like most other hedge funds.

For many of these funds, the year 2009 has not necessarily been a good year. They took fewer risks and have struggled to make gains.In addition, Carl Icahn, sixth in the rankings, do not expect returns as high in 2010. He explained that last year the debt was really undervalued, while today it is fully valued.

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The sale of Lutetia is accurate. Reportedly, Alrov, a property development company Israel is in exclusive talks with Starwood Capital, the current owner of the palace in Paris. Alrov wants to redeem the walls and goodwill, while retaining management of the Concorde Hotel Group, a subsidiary of Starwood Capital. Alrov is head of several luxury hotels including The David Citadel Hotel and The Mamilla Hotel in Jerusalem. But nothing is signed yet complicated in this sale cash advance payday loan . Indeed, one buyer said, Sheikh al-Jaber, said to have priority following an exclusive agreement with Starwood Capital Group for the Concorde. A trial is underway in this regard. Al-Jaber and Starwood Capital, however, could reach a settlement before trial, expected in April.

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The ex-Taittinger empire being dismantled

Jean-Marc Tassetto, general manager consumer marketing at SFR and as executive committee member of SFR, would be on the start, after 13 years at number two in the French mobile phone.

It is in talks with CanalSat, another subsidiary of Vivendi and Vodafone, another shareholder in SFR payday loan . Still on the front of the stage in Las Vegas in January to promote the partnership agreement with Palm, Jean-Marc Tassetto was the main architect of marketing coups of SFR.

The French do not really feel the first effects of the recovery. Nearly 43% of them believe the situation will not improve in the short term, against 53% more optimistic, according to an Ipsos Direct Insurance. The 18-34 years are more positive, being 60% believe in a short-term improvement of the economy.

In contrast, the 35-59 years are 49% to fear for the future economic situation. Pessimism contrasts with predictions of positive growth, the government is relying on such an increase of 1.4% of GDP in 2010. It seems that the fear of unemployment prevails in this population group. They are right: the unemployment rate, currently at 9.1% should exceed 10% according to the OECD.

A large majority (69%) French also fear a rise in prices. Again, they are too pessimistic.Economists Natixis, inflation should not exceed 1.2% in 2010, a fairly low level. INSEE table involved a decline in inflation "underlying", that is to say outside energy prices, to 0.9% in July 2010 against 1.8% in October 2009 .

Eight out of ten people expect further increases in oil prices free credit scores . Again, the French would they be worried too? INSEE expects a stable price per barrel to around $ 80 by mid-2010. But the National Institute of Statistics warns that still considerable uncertainty surrounding its estimates, the market of black gold is very volatile.

According to the Ipsos survey, these pessimistic expectations should lead the French champions of saving, save more. Nearly 65% of respondents believe that the crisis will encourage them to save even more.On this point, they agree with the experts. The INSEE estimates that savings will remain at a high level (16.6%) in the first half of 2010, having broken records in 2009.

Latest cares, but not least, the French: the future of pensions. They are 90% believed that "concern about changes in the level of pensions in the years to come is a sense justified. Negotiations on the future of the pension system, initiated by the government this year, will soon fix the issue.

After closing on Tuesday sharply (1.33%), CAC 40 should bind a third straight session, after Wall Street and Tokyo have also closed up. The future index is up 0.49% at 3812 points.

On the macroeconomic front, the meeting will once again quiet. Tokyo closed up driven by export values. Wall Street posted its second consecutive session of strong gains, thanks to a renewed optimism about economic outlook sparked by expectations of UPS.

But the day will be marked by a series of indicators on the service sector in Europe and the United States and the ADP survey surl'emploi the United States, giving a foretaste of showing the employment in January scheduled Friday.

Oil finished up Tuesday at 77.23 dollars a barrel.The euro continued its resurgence at 1.3971 dollars (0.06%).

Values follow

Vinci reported an increase of 4% of its backlog, which gives visibility beyond 2010 in a still uncertain economic environment. 2009 was marked by a decrease of 4.6% of its consolidated revenues to 31.9 billion euros.

EADS: The Asian demand for aircraft will be more robust than expected, according to Airbus. The manufacturer estimated that the region will need 8,000 aircraft over 100 seats on els next 20 years, 7 cons business card .627 During the previous estimate.

Maurel & Prom has announced a 2009 turnover up 99% with the start of fields and OMKO Onal in Gabon. The oil company said 2009 sales below expectations of 183.2 million euros, including 54.7 million in Q4.

NRJ Group said on Tuesday found a slight increase in advertising revenues in January, after an increase of 1.8% of its sales on a comparable basis in 2009.

Alten said he was confident in his ability to pursue recovery of its operating margin started in the second half of 2009 according to its expectations, despite talks 'complex' with its customers in a heightened competitive environment.

GL Events has announced a decline of 4% of its turnover in 2009 to 581,4 million euros, saying he had outperformed the market events, and a contract for the provision of 40 million for the World Cup footbal in South Africa.

Latecoere has seen its annual sales fall by 22.4% to 449.4 million euros in 2009, under the influence of a decrease of 30.4% in the Aerostructures, which provide more than half of total .He said anticipated a slight drop in activity in 2010, provided the low point turnaround cycle.

"We will not allow the Clio IV be produced in Turkey," said Christian Estrosi yesterday in the Assembly. On the eve of receiving Patrick Pelata, CEO of Renault, the Minister of Industry has shown its determination to avoid "hidden relocation. For Secretary of State for Employment, this move is a "red line" not to cross. Reflecting the sensitivity of the manufacturer, he recalled that 45% of its workforce in France.

Renault does not intend to produce Flins, near Paris, the successor of the current Clio III. This is already manufactured in three sites: Flins, Valladolid (Spain) and Bursa (Turkey). "Without this multilocalization, Clio program would not be profitable, said spokesman of the manufacturer. No decision on the allocation of production has been taken.The Clio should not be renewed for another three or four years. "Renault plans to produce Flins its future electric cars," at least 100 000 batteries per year, and to keep the Clio time to the growing burden of the power. There would be no risk to social Flins.

That is not enough to reassure the government. Christian Estrosi said yesterday that "the state was deeply involved in industrialization of electric vehicles, including Renault and asked him to" better connect the whole chain of French development of the electric Flins.

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While some are preparing to face the cold polar for finding deals, a growing number of consumers will continue this Wednesday, though warm at the computer … The survey conducted by Directpanel Research for the Federation of e-commerce and of distance selling (Fevad), three quarters of Internet users intend to make sales online. 16 million French, constant compared to last year.

Besides the practical aspect of the cyber shopping avoiding transport, cold and congestion, especially Internet landslide rates from Fevad. On the Web, customers have comparators which can not fail sizeable discounts that can reach 90% from the first day of sales.Another advantage, if any error or deception, online stores subject to the regulation of distance selling are required to return the items during the withdrawal period of seven days.

EUR 168 on average

Under existing regulations, the kickoff will be given 8 hours, although some sites have offered to their online shoppers fill their baskets to advance to validate not only the final fateful hour. As in the shops "physical" Moreover, the proposed articles are unsold new sold for over a month.

According to the survey, users hear and spend 168 euros on average. Some 10% of 990 respondents-are even willing to go up to 500 euros. The fashion, female as male, are the products most desired.Accessories, footwear and electronics complete the shopping list type.

Last year, the federation had found a 16% increase in sales over the internet in the first day of sales.