International & World Report

Buoyed by the announcement of a burst of mergers and acquisitions, Wall Street on Monday confirmed the rebound that started in last weekend. It even erases all its losses last week. All indices end in green: the Dow ends up sharply from 1.87% to 11,479.65 points. The index had opened up 0.48% to 11,323.44 points and continued to grow during the session. The Nasdaq index also closed with a gain of 1.87% to 2554.79 points.

Markets reacted to a volley of announcements of mergers and acquisitions. First, Google (-1.16% to 557.23 dollars) has announced the acquisition of the mobile phone manufacturer Motorola Mobility (55.78% to 38.12 dollars) to $ 12.5 billion in cash. Time Warner (-0.81% to 64.98 dollars), meanwhile, reached an agreement to buy the cable operator Insight Communications to Carlyle for $ 3 billion.Finally, Cargill will acquire the French specialist in animal feed Provimi to 1.5 billion euros.

As in Europe, investors are upbeat on the eve of an important meeting between French President Nicolas Sarkozy and German Chancellor Angela Merkel on the reform of the governance of the euro area. They should discuss ways to implement to prevent contagion problems of sovereign debt to the rest of the region.

But Germany has already warned investors: this meeting will lead to "nothing spectacular". "It will be a working meeting on the governance of the euro area in line with European decisions taken in late July," said the spokesman of the Ministry of Finance. The latter also confirmed the skepticism German, joined by France, in respect of Eurobonds.These ads have already resulted in demoralizing the European investors.

In Asia, the announcement of a contraction much weaker than expected Japanese GDP has also reassured the markets.

Morale builders stable

The statistics published on Monday in the U.S. are, however, bleak. Manufacturing activity in the New York area declined for the third consecutive month at -7.7, 3.9 points lower than in July.

In real estate, the NAHB index released on Monday shows that the morale of the manufacturers was unchanged in August, close to its lowest historical levels.

Note that the currency market, the euro strengthened against the greenback at 1.444 dollar. Oil markets, oil prices closed up in New York payday loan. A barrel of "light sweet crude" for September delivery was trading at 87.88 dollars, up 2.50 dollar.Prices had fallen during the European trading, erasing their gains made in Asian trade in a market nervous and still haunted by persistent concerns about global growth and the debt crisis in the eurozone. A barrel of Brent North Sea crude for September delivery was trading at 107.56 dollars on the Intercontinental Exchange (ICE) in London, down 47 cents from Friday's close.

Google swallows Motorola Mobility

On the corporate side, Bank of America (7.93% to 7.76 dollars) has announced the sale of its activities in the international credit cards in Britain, Ireland or Canada.

The food distributor Sysco (-3.93% to 28.11 dollars) announced earnings per share (EPS), diluted to 57 cents under its fourth quarter, diluted EPS of $ 1.96 for all of its financial year, while its quarterly sales reached $ 10.4 billion.

Estee Lauder fell 6.64% to 94.15 dollars. Despite the publication of a net income group share record of $ 700.8 million, up 46.5%, the cosmetics group announced its annual results would be below Wall Street expectations.

Lowe (0.82% to 19.58 dollars) has already reported sales below expectations in the second quarter of its fiscal year and lowered its annual targets for the second time in three months, consumers pushing their development projects until later because of sluggish growth.

Boeing (1.54% to 62.70 dollars) announced it had completed with Air Lease Corp. an order valued at $ 2.5 billion on 14 737-800 aircraft and five 777-300ER.

Pfizer (2.69% to 18.34 dollars) announced Monday it had won before a U.S. court case against Teva Pharmaceutical Industries of Israel, preventing the global generics to produce a copy of Viagra before 2019 .

Transocean (2.97% to 57.26 dollars), listed in New York, wants to buy the Norwegian group Aker Drilling, for a total of 1.1 billion Swiss francs (1 billion), according to a statement Monday.Several large shareholders, representing 65% of the capital, have agreed to the deal, said the Swiss.

The American specialist craft materials Grainger (2.01% to 138.57 dollars) on Monday announced the acquisition of the Dutch distributor of fasteners Fabory Group for $ 344 million (242 million).

Firefighters desperately looking for financial markets. For a month, the Cac 40, which recorded its ninth session Thursday consecutive decline, has lost 17%! And the stock market this week might conclude on the tenth. Shortly after opening, the stock market index fell by 2.09% to 3250.95 points.

On other European financial centers, the atmosphere is also depressed: the Footsie-100 from the London Stock Exchange 2.58% to 5254.11 loose points, the DAX 30 Frankfurt Stock Exchange fall 3.85% to 6167.96 points, the FTSE MIB in Milan leaves 3.44% to 15,573.84 points, the Madrid Ibex 35 yields 1.96% to 8516.20 points, the Bel 20 in Brussels is down 3, 61% to 2143.45 points.

In anticipation of U.S. employment figures

That can extinguish the fire which engulfed global stock markets? The President of the European Central Bank, Jean-Claude Trichet, it is tested in an exercise it is broken.Without having reassured, he did not panic by not clarifying his intentions on debt buybacks. "It's the return of the behavior of crisis," says Aurel BGC in it.

Consequence: the main European stock markets fell 3% to 4%, Wall Street plunged 5%, Asian stock markets slumped 2% to 5%, oil is trading around 85 dollars a barrel and not to vicinity of $ 100 as there are about ten days, and gold flies to 1700 dollars per ounce. A scenario that is not yet catastrophic according Volokhine Gregori, president of Meeschaert Capital Markets. "We're not on a" bear market "(bear market over a long period), he says.We will be there when the stock markets lose 20% per week. "

After the publication of interim results of the banks, the speech of Jean-Claude Trichet, investors will monitor closely the figures for employment and unemployment in the United States for the month of July (1430). "This does not fundamentally change the market trends, said Grigory Volokhine Business on BFM.

The trade deficit declined in June

Most investors expect to know if there will be further monetary easing to support the U.S. economy and if European countries are finally going their act together. " Same story on the side of Aurel BGC. "Even a figure in line with expectations should not prevent markets brooding, said Christian Parisot, chief economist at Aurel BGC.Hopefully a little bounce if it exceeds the expectations. "

Other macroeconomic news: the trade deficit of France. He was greatly reduced in June to 5.598 billion euros, after 6.415 billion in May, according to data released Friday by Customs.

On the corporate side, the last two banks issued after market close on Thursday night: Natixis and Dexia.

Natixis: -3.29% to 2.676 euros

Natixis on Thursday posted a net profit above expectations in the second quarter thanks to a sharp increase in the contribution of results from regional banks of its parent BPCE (People's Bank – Savings Bank).

Dexia: -6.88% to 1.54 euros

Dexia announced the heaviest loss in its history, a performance due to both the sale of a portfolio of toxic assets – centerpiece of its restructuring plan – and its contribution to the aid plan on sovereign debt Greek.

Carrefour: 18.56 euros stable

Carrefour announced a new reorganization of its management, including replacing its chief financial officer, when the group just straightening operations in France and suffered a major strategic setback in Brazil.

LVMH: -2.30% to 112.55 euros

LVMH said Thursday it had received approval from Consob, the Italian stock market authority, for offering Italian jeweler Bulgari on which he announced the takeover in March.

Vicat: -5.47% to 44.24 euros

Vicat said Thursday expect a slight reduction of its operating margin in 2011 due to the revolution in Egypt, the rising energy costs and start-up costs of factories in India.

Careful, this is the verdict seems to be emerging markets about the compromise between Republicans and Democrats to raise the debt ceiling. European shares closed sharply lower on Monday and Wall Street is in the red at mid-session.

European leaders hailed the recovery of 2.4 trillion dollars in the legal limit of U.S. debts. Enough to hold until 2013, after the U.S. presidential election in November 2012 of. "This plan raises considerable uncertainty that hovered in recent days on the market about a risk of recession in the United States, welcomes Philippe Waechter, head of economic research at Natixis AM. While no agreement was reached before Aug. 2, the federal government could not spend what he earns, which would have sealed the growth. "But economists remain cautious: the lack of plan detail and ambition.

• Two uncertainties

The plan presented by President Barack Obama and the Democratic and Republican negotiators is still a project that has not passed by Congress. "The Republicans may be unhappy with the cuts in the defense budget. (…) In addition, any tax increase is explicitly provided, which could make it difficult to convince a sufficient number of Democrats to vote the text, "Analysis Paul Mortimer-Lee, chief economist at BNP Paribas IPC.

Second unknown, raised by Inna Mufteeva, economist at Natixis, "no timetable has been issued for budget cuts. These cuts should not be introduced too fast, Barack Obama assured, but it would be interesting to know when. "Especially the plan, based solely on spending cuts and no tax increase, is likely to influence an already weak growth.

• A plan insufficient

"The total savings proposed, or 2.4 trillion dollars, is insufficient to put the U.S. budget on track," said Paul Mortimer-Lee. The rating agency Standard & Poor's estimated 4 trillion in savings over 10 years are needed to reduce the U.S. debt.

• The main decisions postponed

Almost two-thirds of the austerity measures -1.5 trillion dollars over a total of 2.4 trillion-flow from the proposals of the committee for the opportunity to be presented in November. Result, "there are still too many uncertainties about possible future tax and budget cuts, concerned about Paul Mortimer-Lee. This uncertainty will penalize investment decisions and hiring companies. Growth will suffer.The compromise presented Sunday night therefore merely postpone the problem, and not far beyond. "

• Questions about Washington's ability to make decisions

"Initially, Obama targeted Republicans as a plan of 4,000 billion dollars, said Philippe Waechter. As they differed on how to achieve their ambition has melted over the negotiations, to agree in the end the lowest common denominator (2400 billion dollars in savings). "

So lacking in the original goal to doubt the effectiveness of the American political system. "If there were only Republicans and Democrats agreed was found. But the presence of extremists of the Tea Party has changed the situation, forcing the Republicans to more than intransigence, Philippe Waechter analysis. It has changed the political system in the United States.Part of the Republicans wanted something other than what was negotiated usual, causing the blockage. "

This could happen in the future, warned Standard & Poor's in a note dated July 14: "The inability to reach an agreement today leads us to believe that there will be no more coming years. "This argument could lose its" AAA "in the United States.

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The text provides for the implementation of financial sanctions in case of conflict of interest.

LE FIGARO. – What are the main points of this text?

Xavier BERTRAND. – I said I want there to be a before and an after-Mediator. That's why I wanted an ambitious reform and concerted based on three pillars. The first is transparency in conflicts of interest. For it is clear that it is essentially this question that has caused confusion in public opinion after the Mediator by creating a climate of suspicion unbearable. Another important point when there will be questions about a drug, the doubt should benefit patients and not laboratories. Finally, better information for patients is necessary, as well as better information and training for health professionals.

Only sanctions can overcome the conflicts of interest.What are your plans?

The law sets up financial and criminal penalties for violators. Any decision of a proceeding in which a conflict of interest is identified will be void. For laboratories, the penalties can go as far as the marketing ban. All this is particularly chilling.

You know a law can not do everything. How do you proceed?

The law will not be the only element of this overhaul of the system. We must prepare decrees, including the training of health professionals. Thus, the continuing education of physicians should no longer give the feeling of being entirely in the hands of medical representatives. That is why I want this new system is evaluated in two to three years.I do not want to do in half-measures but in radical reform.

The General Inspectorate of Social Affairs called to abolish the profession of pharmaceutical sales. You do not accept this proposal, why?

There is a distinction between promotion and information. It is clear that the existence of the medical as we knew it is over. It is even prohibited individual to the hospital. Physicians will face several health visitor. Funding for the training of doctors must be watertight. Certainly, the pharmaceutical industry will contribute, but not directly as is the case today. It will do so through taxes and royalties, which go through the state and Medicare before being paid back. I want there to be far fewer links between laboratories and physicians in training low fee payday loans.Finally, the Minister of Health should be aware of all the training modules for sales representatives and all the documents they will present to health professionals. This is the French Agency for Safety of Health Products, renamed the "National Security Agency of Medicines and Health Products" (ANSM), who will have control.

The text also plans to make public all contracts with the press, learned societies and patient organizations. This means he the death of the medical press?

This is not to stop there advertising in the newspapers, but we can require that the amounts of payments to be made public.

While France has decided to prohibit the marketing of the Actos diabetes, the European Medicines Agency wants to leave it on the market.What do you do?

We will maintain the suspension of Actos. This medicine will not be back in French pharmacies. With Germany, we call an approach at European level so that our position is respected. If the European Commission sided with the European Medicines Agency and forced us to return the Actos on the market, there will be a showdown. Also, I am convinced that it is necessary to reform the drug in Europe, because I want that one gives more power to national agencies. Laboratories must understand that things have changed.

The Constitutional Council has just approved the text on the compensation fund for victims of the Mediator.To the laboratory Servier is it always the first charge before the health authorities?

Yes! We should not be mistaken about the primary responsibility in this matter: it is the responsibility of laboratory Servier. The compensation requested by the National Compensation Medical (ONIAM) for victims of the Mediator will be increased to a 30% penalty if the laboratory Servier refuses to comply. We were told that with this 30% penalty (in the body of law, the penalty is 15%, Ed) it was an emergency law, the Constitutional Council has given us reason. In addition, I ask Servier to cooperate fully to compensate the victims.

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Baroin the stage. He keeps repeating the last few days: it will require further cuts in the tax loopholes in 2012. For now, the government planned to cut $ 3 billion. "It is very likely that we will go beyond, as part of the Finance Act," warns the Minister of Economy. Otherwise, the objective of reducing the public deficit (4.6% of GDP in 2012, 3% in 2013) will not be met. The IMF says the same thing Wednesday, in the final version of his report on France, he warned that without additional effort, the deficit "would decline more slowly contemplated" and still reach 3.8% two years.

However, Prime Minister François Fillon reiterated last week even as the French would not have to tighten their belts further.If the IMF is seeking new revenue – or additional savings – is that it considers the government's growth projections too optimistic. He did not table more than 1.9% next year (after 2.1% this year), where the government is preparing its 2012 budget on an assumption of 2.25% (after 2%).

The cost of Greece and Libya

But that's not really what worries Bercy. Growth at 2.25%? "The account will be," says without a doubt a top official of the Ministry of Economy.

However, Bercy identified several elements that could degrade the accounts. First, the second bailout of Greece faxless payday advance. While it will not weigh directly on the deficit of France, as François Fillon stressed. The private sector has agreed to cash a loss equivalent to 21% of the value of the loan granted to Athens.The slate for French banks would exceed 2 billion euros. "We will inevitably income tax on companies and less," admits the Ministry of Economy.

Then "there will be a time when we look at the balance of external operations," Do we loose the ministry. In other words, the commitment of the army in Libya and Afghanistan could be very expensive.

Finally, remember that at Bercy Taiwan frigates affair will cost 460 million euros to France. In early June, after ten years of a bitter legal battle, Thales has indeed been ordered to pay more than $ 800 million in Taiwan, for commissions on the sale of frigates in 1991. The State had brought its guarantee in the contract."Public finances must now endure the heavy consequences of the decision in 1991 to pay commissions, unlike the letter of the contract," Matignon had pointed to the announcement of the court decision. This cost was included in the supplementary budget at the beginning of July. It will, however, offset this expense.

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Further escalation, that night, in the war between the elected officials for several months Republicans and Democrats in the U.S. to find a solution to the need to reduce the U.S. budget deficit. Having failed to reach an agreement with Barack Obama, the chairman of the House of Representatives, Republican John Boehner, Friday slammed the door to negotiations with the president.

At issue this time, as the Republican's will vote Democratic president to make an additional $ 400 billion of tax increases. A demand unacceptable, according to Boehner, while the two sides had previously agreed to a ceiling of one trillion dollars in additional tax revenue.This Saturday, the threat of a default by August 2 of the world's largest economy has thus further increased.

Of default formally excluded

The President has convened several political leaders to an emergency meeting Saturday afternoon at the White House to try yet again to reach compromise. Both sides say they are confident of raising the debt ceiling (14.294 billion U.S. dollars), reached on May 16, but whether common ground had been reached on the amount of the uncapping. Barack Obama and John Boehner have ruled out a formal non-payment within 10 days.

But the talks still face the question of the amount of budget cuts and debt reduction.Republican side, John Boehner said that after the new clash, he preferred to look to the leaders of the Senate to find a "reasonable" on these issues. Which casts a big doubt about the outcome of negotiations Saturday with the president, which is called Boehner. Democratic side, Barack Obama is prepared to assume full political responsibility to raise the debt ceiling in order to unlock at least for a time, the status quo. "If that's all Congress can do, I will sign an increase in the ceiling to take us to 2013," the president said.

Obama recalled that he had proposed to the Republican's $ 1.65 trillion spending cuts various offers an "extraordinarily fair" said the president.But still not enough for John Boehner, who accuses the president's inability to take "tough decisions" on reducing public spending. Boehmer wishes to bring to the 3 trillion budget savings over 10 years.

Time-critical

The time to find common ground is critical. The readiness of Barack Obama to convene a further meeting this Saturday is a sign that the U.S. president does not want to wait until the deadline of August 2 to reach an agreement. "We have more time in front of us," he said.

Recalling that Wall Street opened Monday, the president pointed to the impact on financial markets of such uncertainty. "Americans are outraged" by the inability of Congress to act, he said.This willingness to find a solution is also shared by the Republican camp, in which counsel highlighted the urgency of an agreement by Monday. What then leave both parties ten days to write a non-redundant legislation and get it validated by Congress.

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Pressure mounts on Barack Obama. While the deadline of August 2 approach, the U.S. president can not convince Republicans to vote on raising the debt ceiling of the United States. He must now face the threat of a deterioration in the country's sovereign rating from Moody's. Wednesday evening, the rating agency said it could in the coming weeks to lower the American note, currently the highest possible AAA, AA category, which is an investment category.

Moody's became the first of the three major rating agencies to place the note in the United States under surveillance with risk of a downgrade. In a statement, she said, receive "a possibility of increasing the maximum statutory debt is not found in time."Without an agreement, the U.S. could miss some payments on government bonds in circulation, she says. The dollar and U.S. bonds fell after the announcement. The dollar's share has compounded its losses. In morning trading, the euro is worth 1.4196 dollars.

The agency intends to end the monitoring as soon as it can conclude whether a defect is avoidable or not. It will then decide if the United States are entitled to keep a stable outlook on their ratings, on the basis of the budget negotiations between Democrats and Republicans. But even if Congress manages to avoid a technical default in August, increases the likelihood of a revision of the outlook to negative in the weeks following, told Reuters Steven Hess, Moody's analyst."The fact that they do not agree on are the maximum debt shows that the outcome of negotiations on the status of long-term debt may not be very positive," said he.

Recall

Following this announcement, the Deputy Treasury Secretary for Finance interior, Jeffrey Goldstein, said the Moody's decision was a timely reminder of the need for Congress to avoid a default and to seal an agreement to reduce serious budget deficit.

For Democrat Chris Van Hollen, the words of Moody's demonstrated the danger in the ideological debates. "The fact that Moody's places the United States under surveillance and downgrade our rating to AAA underlines the danger of those who would do our economy and our jobs hostage to a rigid ideology instead of acting in the best interests of our country, "he said.

Tense discussions at the White House

The opinion of Moody's fell just before the fourth interview in four days between Barack Obama and the leader of the Congress. According to a Republican parliamentary attaché, she was the most tense of all. To conclude the meeting of Wednesday, the president of the United States would have meant he would no longer concession, even if it were put at risk its mandate. "I got to the point where I have to say 'enough is enough!" Is Ronald Reagan would sit here? I reached my limits. This may possibly lead to the end of my presidency, but I will not yield on this point ", would he have said.

Denying the information that the President had left the room abruptly, an audience member who requested anonymity confirmed that he had expressed his exasperation, saying, "Enough!".Barack Obama, who will again parliamentary leaders on Thursday, has also asked to renounce the political maneuvering, according to a member of the Democratic Party.

In this context, the President of the U.S. central bank (Fed), Ben Bernanke, warned that failure to pay the United States would create "huge problems" for the country and a "major crisis" in the world .

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Unexpected rebound of the French industrial production in May. While economists had forecast a 0.5% increase in average industrial growth reached 2% over the month, according to figures released by INSEE on Monday. The only manufacturing industry, that is, outside of energy production, rose 1.5%. Germany, the first client of French industry, recorded a similar rebound in May (1.2%).

The increase is explained by a return to normal imports of parts produced in Japan, interrupted after the earthquake. "The disruption of production caused by the disaster Japanese, which affected production in March and April, were apparently stronger is believed," Dominique Barbet analysis, economist at BNP Paribas.

The car saw its production increase by 2.5%

All sectors are displayed in green in the month of MayThe production of electronic and computer equipment rose 2 online pay day loans.3%, the textile industry of 1.3% and rubber and plastics 2.2%. The car, itself, saw its production to rebound by 2.5%. In this context, chemistry and medicine show more modest increases of 0.3% and 0.5% in May Only agricultural and food industries suffer a decline of 0.2% of their business.

From March to May, manufacturing output increased by 0.9%. Compared to the same period last year, manufacturing output rose 4.8%, INSEE said. Despite these positive figures, French growth to slow in the coming months, according to the Bank of France. The institution has revised down its outlook, relying now on an increase of 0.2% of GDP for the second quarter (April to June).

This year, no fewer than five new brands join forces for the first time in the Tour: Alcatel, Qatar Airways, Europcar (which also sponsors a team), and Banette Sojasun. It's better than in 2010, where three new partners (Digital, Teisseire, Cakes Saint-Michel) had entered the Tour.

It is true that the pyramidal organization sponsors tickets with different specific and visibility – enables sponsors to enjoy the varied biggest cycling race in the world. To be included in the club of four key partners alongside LCL, Vittel, Carrefour or Skoda, with arrangements for wider visibility and exclusivity of the brand associated with the Tour, it takes 3.5 to 5,000,000 of euros per year.

For their part the official partners (ten in total) as Antargaz, Orange, Festina, AG2R La Mondiale, Brandt or the PMU (the green jersey sponsor) must raise between 600,000 and one million euros. For that amount, they have a pavilion at the Village, a place in the publicity caravan and a right of communication associated with the Tour. Finally, the 17 official suppliers, engaged for three years, such as the ever-present Cochonou (14 years on the run), Nesquik, Sodexo, Etap Hotel and Haribo, capitalizing heavily on trade marketing operations, but are not associated with the sports section. Average amount of investment: between 300 and 500,000 euros.

Not to mention the octogenarian Caravan advertising that drives the pre-race with 160 vehicles and thirty brands that are paying 37,000 euros for the right to four vehicles (6300 euros per additional vehicle) and distribute the artists receive "goodies" . In anticipation of its 40 year history, has completely revamped its Cochonou device caravan and bobs will distribute 100,000 collectors, 400,000 sachets sausage, or 5000 bags. "Since our arrival in this race, we settled in aided awareness 95%.As for our market share by volume, it increases by 1.5 points during the competition each summer to 12%, "said Schneider Laétitia, Brand Manager for Cochonou.

Proof if any of the enthusiasm for marketing the event, we already know a new partner of the Tour in 2012: Le Coq Sportif, which will become the new supplier of ASO, some 60 years after a first experience!

New technologies invite themselves

Like likes to remember year after year Yvon Breton, No. 1 group collective foresight AG2R La Mondiale, signing 15-year presence in the bicycle, via a team (9 million budget) and a partnership with ASO, "what is the event that can give his name to a team that generates advertising equivalent of several million euros?" In 2010, they corresponded to 90 100% free credit score.5 million purchase of space or a new level, against 63 million euros in 2009. "We remain on the bike because it can continue to install the brand," he insists.Traveling agency that the group installed on each step also enables it to host more than 40,000 people during the three weeks of the competition and also to distribute the number of "goodies".

The media is probably the maximum calculation made by Alcatel One Touch, a newcomer to the team of partners ASO, which is the first investment in sports sponsorship. "We have a public position and the Tour is the premier event that allows us to reach out to families, much more available at this time of year, because vanaces," says Ludovic Leray, head of sponsorship. For his debut in the sport, the distributor of mobile phones and internet products will have a visibility distance through the appearance of its logo during the "course info" for the steps.It will also be the first partner to the general public to support the publicity caravan of the inside line, thanks to its smart phones and via Facebok and Twitter. Alcatel One Touch will also benefit from the device and expects to receive 550 hospitality guests during the Tour.

The passion is the same side of town who dream of one day hosting the festival of cycling. London did not hesitate to pay 10 million euros for the Tour in 2007, bringing together more than one million spectators along the Thames. The budget for a city of Grand departure starts at 2 million euros oeut effectivelment exceed the threshold of 10 million. Fortunately, the bill is more reasonable for the typical stages: 90 000 euros for a city of arrival, 60 000 euros for a departure city or 150,000 euros for the candidates to the city of rest.Result: ASO boasts more than 200 cities bidding to host the next edition of the Tour. What up years of the race tracks.

The ASO model is it infinitely expandable? "One wonders how the public finds it among the many brands partner on the Tour. Too many companies these may influence the visibility futures, "warns Marc Mazodier, research professor in marketing at the ISG business school. Specialist ambush marketing (ie ambush marketing), it stresses the need for brands to differentiate themselves from each other by a real working partnerships activation.

Asian stock markets continue to ride a wave of optimism after the Greek Parliament voted Wednesday austerity plan imposed on the country. Allowing it to qualify for the new tranche of international financial assistance of 110 billion euros was granted last year. As clashes continue between now expected between demonstrators and police, MPs are now called to vote on the bill of the plan voted on yesterday.

The Nikkei 225 gained 0.36% to 9832.72 points. The increase is significantly more pronounced in Chinese markets: the Hang Seng in Hong Kong climbed 1.70% to 22,436.80 points and the CSI 300 in Shanghai rises from 1.51% to 3045.50 points.

On the other Asian financial centers, the trend is similar. The Taiwan TAIEX advances 0.43% at 8610.54 points.In Australia, the S & P / ASX 200 is 1.49% at 4597.10 points, the FTSE Singapore Straits Times gained 1.04% to 3111.73 points and in India, the BSE Sensex was up 0.24% to 18,738 points.

South Korea, Asia's fourth largest economy, has lowered its growth forecast for 2011 to 4.5% against 5% originally planned, due to rising oil prices. In addition, inflation is expected to reach 4% for the year, against 3% originally planned. The Kospi gained 0.47% to 2104.21 points.

A successful introduction to Buy Your Dreams

This good news from Greece strongly supports the bank stocks. In Hong Kong, HSBC Holdings climbed 2.17% to 77.6 Hong Kong dollars and Bank of Communications is 1.91% to 7.46 Hong Kong dollars.In Japan, Mitsubishi UFJ Financial Group climbed 2.35% to 391 yen and Sumitomo Mitsui Financial Group was up 1.97% to 2485 yen.

Note that the Stock Exchange of Shenzhen (southern China), the action of the automaker Build Your Dreams (BYD), in which the American billionaire Warren Buffett owns 9.89%, soared 43.7% to 25.87 yuan for the IPO.

In addition, the South Korean giant Samsung Electronics filed a complaint against Apple to prevent it from importing to the United States several of its most famous products manufactured abroad. At the Seoul Stock Exchange, Samsung lost 0.84% ​​to 826 won.

Oil prices without direction

Oil prices were without leadership in electronic trading Thursday in Asia after sharp rise in the day following the adoption by the Greek Parliament of a tight budget, analysts said.In morning trading, a barrel of "light sweet crude" for delivery in August took 15 cents to 94.92 dollars. That of Brent North Sea crude for August delivery fell by 32 cents to 112.08 dollars.