International & World Report

Wall Street on Monday addressed the sixth session of consecutive increase. Half an hour after opening, the Dow Jones gained 0.1% to 10,537 points while the Nasdaq gained 0.30% to 2292 points. The S & P gained 0.19% to 1128 points. Before the Christmas break, the U.S. places had registered a new annual record after the 14 December. The meeting on Monday also looks into the green even if the volume of trade should be still very low due to leave later this year.

Neither statistics and results are expected during this session.However, markets will follow tomorrow, Tuesday the S & P / Case Shiller index of house prices, the index of investor confidence in State Street and the index of consumer confidence from the Conference Board in December.

The airline industry lags behind

Fannie Mae (20%) and Freddie Mac (23%) bound in exchange for information following the U.S. press that the U.S. Treasury agreed to provide two groups of funds as necessary within three years.

The Amazon is under 1.91% to 141.11 dollars. The group announced that its digital book reader Kindle article had become the most offered in its history.It was first sold more books than books, digital paper on Christmas Day.

The airline industry should also move following the tightening of security measures imposed by Washington after the assassination attempt Friday during a flight from Northwest Airlines (0.35%). Continental Airlines lost 1.45%.

Delta Airlines fell by 2.72% and American Airlines lost 1.84% in response to rumors that the Japanese public funds Turnaround Enterprise Initiative Corporation of Japan (ETIC) seek to place Japan Airlines (JAL) in bankruptcy as part of restructuring the airline.A news that could complicate ongoing discussions with the two American companies.

Alexander Ananenkov, vice chairman of Russian gas giant Gazprom said Monday that his group expected to conclude in 2010 an agreement with U.S. energy company Exxon (+0.28%) on the supply of gas from the Sakhalin – 1.

Finally, the Italian Ferrero is still considering a bid for Britain's Cadbury after the latter rejected the proposal of Kraft Foods (+0.22%)

It must be with Air France, it will be finally on Tuesday with Trenitalia. Reportedly, the group Veolia is about to conclude an agreement with Trenitalia, the division of passenger transport operator of Italian public Ferrovie dello Stato, to ride the TGV in France in early 2012.

Neither partner can share in the unknown. The French group had initially started this project in 2008 with Air France before the airline waives last October. Veolia provides fruit and a year of joint discussions with Air France on the subject and plan of attack ready. For its part, Trenitalia is the first foreign operator to take advantage of the opening of international passenger traffic last December 13 to seek paths in France.The group is preparing to roll its TGV spring between Rome, Milan and Paris.

The liberalization of international trade makes it possible for an operator to run its trains in France if they have a path between two states. It is possible to make the Milan-Paris via Lyon and compete with SNCF on the Paris-Lyon section.

To ride the TGV early 2012, both partners are ready to draw: it takes at least six months to conduct the tender for rolling stock and nearly two years the builder to honor his order. Veolia should take over the project developed with Air France. It revolved around three TGV lines. An axis Brussels-Paris-Lyon which allows both to compete with the Thalys between Brussels and Paris and SNCF from Paris and Lyon. A Paris-London Eurostar rival but also competing with SNCF Paris-Lille.And finally, a Paris-Strasbourg line with after the Alsatian capital, a branch to Frankfurt serving lines Mannheim and Karlsruhe, and a branch to Basel with a stop in Mulhouse.

Ambassador of the French high-speed

With operating costs 30% lower than the station simply because of the social system of railway, Trenitalia Veolia and could become the low-cost airline of the TGV. Initial projections of rates which were estimated with Air France aimed at a Paris-Lyon to 30 Euros in second class cons 41 to 63.10 euros for the station (ticket Leisure in normal times), a Paris-Nantes to 22 euros second class cons from 36.50 to 56.80 euros for the SNCF and the Paris-Lille 19 euros against 25 to 38.90 euros for the station.

For Air France, this project means that the ally of yesterday will become a new competitor for its domestic flights.For the station, this is the end of a monopoly and the beginning of a battle that will necessarily lead the public company to lose market share.

For Veolia, the project is a first step since the group aims eventually to answer calls for tenders TGV abroad. The French would be very good in the role of ambassador of the French high speed in the world alongside the manufacturer Alstom. "To export the TGV, Alstom suffers from not being associated with an operator, said a close case. SNCF does not because she is not willing to take risks and cost of revenue abroad. "

The Committee approved the December 8 and 9 "advisory for a package of proposals to strengthen regulation of capital and liquidity with the objective of strengthening the banking sector," he said in a statement.

These measures will "respond to the lessons of the crisis in the regulation, supervision and risk management of banks," said the committee.

The proposals for capital and liquidity will strengthen the banks and create a financial banking system and healthier, "said the chairman, Nout Wellink, who is also president of the Dutch Central Bank.

It is, however, that a "consultation document" and not a final text, recalled Wednesday a spokesman of the Bank for International Settlements (BIS) in Basel, including hosting meetings.

The 27 "wise men" had already announced in early July an increase of Basel II, introduced in 2004 and requiring banks with a capital ratio weighted overall risk incurred by financial institutions.

Avoiding a new "Lehman Brothers"

To avoid the disastrous consequences of a new financial crisis including the collapse of financial institutions of systemic importance, as the bankruptcy of U.S. bank Lehman Brothers in September 2008, the Basel Committee grilled for several months on a building rules governing the banking sector.

In his new proposals, the committee wants to strengthen the quality and transparency of the core capital Tier 1 (core capital of a bank), allowing institutions to better absorb potential losses.

He also wants to improve the level of capital to protect facilities including activities on derivatives and repos (repos).

Debt ratio

Banks should also establish a ratio of debt to contain their debt, financial buffers to cope with difficult situations and a minimum level of liquidity.

The impact of these measures on the sector should be analyzed in the first half of 2010 with the aim to introduce by the end of 2012.

The committee, founded in 1974 and composed of the governors of 27 central banks worldwide, "will ensure that the implementation of new standards is consistent with the financial market stability and sustainable economic growth," assured Nout Wellink.

Central bankers also want to introduce a period of tolerance and accompanying measures "for a period sufficiently long to allow a smooth transition to new standards.