Atos Origin will display an order book to date higher than the corresponding period of 2009, which supports the software houses in anticipation of a resumption of growth in coming quarters, said Tuesday its chief executive Thierry Breton.
He said Atos was in line with annual targets to increase by half a point to point margin at 6.2 to 6.7% from year-end debt reduction and cash generation flow of the same order as that of 117 million euros posted in 2009.
"We have a backlog that is higher than last year and which is constructed dynamically," said Thierry Breton in an interview with Reuters.
Atos, which counts among its customers Renault, EDF, KPN and Dexia, had earned in the first half of 2009 a backlog of 7.5 billion euros.
"What we had anticipated in the model of re-growth is consistent with what we see," added Thierry Breton.
He confirmed the expectation of a negative organic growth in the first half of the same order of magnitude as the 3.7% decline throughout 2009 and then a resumption of growth in coming quarters.
Atos, whose main competitors are the American Accenture and Capgemini, is well equipped to face the situation in Europe, where it generates most of its sales, since two thirds of its activities are recurring, "he stressed.
CONSOLIDATION IN THE AREA OF THE DECADE
Thierry Breton, 55, has led Thomson (now Technicolor), and France Telecom, before becoming Minister of Economy and Finance between February 2005 and May 2007.
He arrived at the head of Atos Origin in November 2008, replacing Philippe Germond, the strategy which had opposed the funds Pardus and Centaurus activists.
PAI Partners is the largest shareholder with 25% of Atos's capital, with 8.5% to Pardus.
Thierry Breton said he expected in the decade to a consolidation of the sector, still "fairly fragmented" worldwide.
Atos, which continues to look "systematically" all targets of acquisition talks with Royal Bank of Scotland and its partners for an industrial partnership with its subsidiary WorldPay electronic payments, he said.
"On this asset, we are positioned somewhat industrial partner rather than private equity funds.Is discussed with all partners and also with RBS, "said Thierry Breton.
Atos, which has issued 250 million euros Oceane in October 2009, had been in the running to acquire Italian SIA-SSB, which the British group Xchanging Outsourcing announced last week the takeover a 51% stake.
Atos should announce the end of July to finalize its new division Atos WorldGrid specializing in technology management Intelligent Energy, also said Thierry Breton.
The objective with this division, whose goal is to adapt the energy demand to the available power among producers and distributors, is to achieve a turnover of 150 million euros in 2010 and have doubled end of 2014.
Atos, which employs 49,000 people worldwide, has to hire 4.000-4500 this year, including 500-600 engineers in France, said Thierry Breton.
The staffing offshore Atos amounted to 5,000 in late 2009, over 70% in India where the group account increase from 800 to 1,000 people this year.
Having already recorded last week its biggest weekly decline in a month, the Tokyo Stock Exchange ended down 0.45% Friday, suggesting investors the opportunity for the Japanese stock market to its lowest close in six months to less than 9,400 points.
After passing downward in meeting new technical threshold to 9780 points, the Nikkei index has increased its loss to 43.54 points to finally dispose 9693.94 points, while the broader TOPIX, 6.50 lost points (-0.75%) to 860.80 points.
The agreement between the leaders of the 20 most industrialized countries in the world (G20) had a limited effect on Japanese markets, in contrast to concerns about the U.S. recovery and the high yen, which were again weighed on exporting groups.
The semiconductor equipment maker Tokyo Electron, and the specialist in digital cameras and Canon have respectively decreased by 2.49% and 1.13%.
Mizuho Financial Group ended at its lowest in seven months to 149 yen (-2.61%), reflecting the intentions of the bank to raise 861 billion yen (7.8 billion euros), a slightly higher expectations, by issuing securities should increase by 38% the volume of shares outstanding.(See)
The announcement of this operation resulted in the decline of other securities sector, Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group, respectively, finished with a decline of 1.91% and 1.88%.
INSEE confirmed the modest growth of 0.1% of GDP in the first quarter but revised the figure up in the fourth quarter 2009 to +0.6% +0.5% instead announced May
The figure for all of last year remains unchanged at -2.5%, the worst recession known the French economy in the postwar period.
In late March, the acquired growth for 2010 came to 0.8%.
Consumer spending by French households have stagnated in January-March when they were up 1.0% at end 2009 (0.9% in the previous estimate) before the reduction of vehicle scrappage.
The total investment fell by 0.9% (after -1.1% in the fourth quarter), with declines of 0.6% for household investment and 1.0% for non-financial firms.
The government spending stagnated after rising 0.6% in late 2009.
The total final domestic demand (excluding inventories) contributed negatively to growth (-0.2 instead of -0.1 points initially estimated), after +0.5% in October to December.
Changes in inventories also contributed negatively by 0.2 percentage points (instead of -0.1) to the growth in the first quarter as foreign trade contributed positively to the tune of 0.4 points.Exports increased by 4.1% (instead of 3.9%) in the quarter, almost twice more than imports (+2.1% instead of 2.0%).
Detailed results of the national accounts also reveal that the disposable income of households rose 0.4% in fourth quarter, after rising 0.2% in the previous three months.But the benefits have slowed, increased taxes and inflation accelerated, so that the purchasing power of disposable income fell 0.1%, after stability in the fourth quarter.
The savings rate has meanwhile declined slightly to 15.7% from 15.8% in late 2009.
Last indication given by INSEE, the margin of non-financial corporations increased by 1.2 points to 30.5%.
Greece will overcome its fiscal crisis without having to restructure its debt, said Greek Finance Minister George Papaconstantinou in an interview published Wednesday by the German newspaper Handelsblatt.
'We still have a credibility problem, he acknowledged, adding that the country would not need to restructure its debt.
'We must not let the single currency to be destroyed by the markets overreacted.
A delegation of the European Union, the International Monetary Fund (IMF) and European Central Bank (ECB) said last week that Greece put in place economic reforms, according to plan massive aid over three years 110 billion euros to save the country from bankruptcy.
"I see the end of the tunnel," said the minister.
"We hope to finish the year better than we expected, out of the recession more quickly and return to growth from the mid-2011," he said, while acknowledging that "Spain and the Portugal [were] in a much better position than Greece.
In return for IMF assistance plan / EU, Greece has promised to cut its budget deficit to 8.1% of GDP this year to comply with the requirements of Brussels and under the 3% of GDP by 2014 .
The United Kingdom came Tuesday in an era of stringency, the Chancellor Osborne has announced an unprecedented austerity plan designed to generate tens of billions of euros in savings over 5 years to eliminate almost all of budget deficit left by Labour.
The coalition government formed last month by the Conservatives and Liberal Democrats "has inherited the largest budget deficit in Europe in absolute terms, and" this budget is needed to restore confidence in our economy, "argued the Chancellor of the Exchequer George Osborne, presenting his first budget to Parliament.
He unveiled a package of measures to eliminate the deficit completely called "structural" over five years, that is to say the duration of the legislature.The structural deficit is the part of the government deficit which is not related to temporary difficulties in the economy, and therefore does not go away automatically with the recovery.The reduction will require "structural reforms", such as reducing state intervention in certain areas or reduce the number of officials.
The total deficit should be narrowed down to 149 billion pounds (179 billion euros), equivalent to 10.1% of gross domestic product, in fiscal year started in April, only 20 billion pounds in 2015/2016, or 1.1% of GDP.
Drastic reduction of public expenditure
Most of this reduction, which represent a tightening of 40 billion pounds a year older, at the end of the term, provided that what the Labour Party, will come to an unprecedented reduction in public spending.
The budget of each department will decline from 25% on average over four years, except those in health and development assistance, which will be "ringfenced".The precise distribution of these cuts will be announced this fall.
Officials will have to tighten the belt, with a wage freeze for two years except for the smallest, and a hardening of their pension plan.
On the revenue side, the VAT will increase from 17.5 to 20% in January.The tax on gains from capital will swell immediately, and banks, after receiving massive bailout plans in the Labour Party, will go to the cashier, with the introduction next year of a tax that should generate Term 2.4 billion euros per year.
Even Queen Elizabeth will make efforts, a freeze on 9.5 million Euros from its "civil list", the envelope that the state pays for its official duties.
But alongside the Chancellor Osborne has announced a reform of the income tax, which was defended vigorously by the Liberal Democrats on behalf of social justice, and will allow to exempt nearly 900,000 low-income households. He also cared for businesses with targeted measures.
The opposition denounced a budget "bad for growth"
The opposition has strongly criticized this budget.Harriet Harman, who heads the Labour Party pending the election of a successor to Gordon Brown, has denounced "the same old Tories, severely affecting the most vulnerable. She also denounced a budget "bad for growth", emphasizing that the OBR, Constable of public finances, was lowered from 2.6% to 2.3% the official forecast for growth next year, following this budget.
In the City, investors welcomed the ads, dating the book above 1.20 euros, but economists have shown mixed. James Knightley of ING was concerned about the magnitude higher than expected this fiscal tightening, "a painful process that will limit growth, while Paul Robinson of Barclays Capital, has welcomed a budget sufficient clever, "which includes" various measures to limit the impact on the less affluent. "
Why oil markets do not react to the catastrophe of BP in the Gulf of Mexico?
It is true that oil prices have finally been little impacted by this disaster. For two reasons. First, it was thought a few days after the disaster, the movement of tankers in the Gulf would be disrupted, which could affect the evolution of very short-term U.S. oil inventories. This was not the case. Meanwhile, outside the six-month moratorium on the exploitation of new platforms, markets await the outcome of the commission, (introduced by the Obama Administration) regarding the future development of deepwater drilling. For the moment nothing has filtered out on the progress of discussions. Yes, President, stuck in the oil slick bomb on his chest and hardens ecological discourse.But for the United States, deprive themselves of deepwater drilling and oil from the Gulf of Mexico equivalent to increasing its short-term dependence on foreign and thereby increase its imports and the movement of tankers. But from a strictly ecological point of view, the likelihood of oil spills associated with tanker accidents is much higher than that related to problems occurring on a platform …
The survival of BP is threatened?
BP is not dead but its future is very bleak. The total cost of the disaster will obviously staggering, at least about 10 billion dollars. But the slate will not pay a single blow and will be paid over several years, which does not undermine the cash short-term business.It remains, however, the cost in terms of reputation and image especially in the United States. Can you imagine, when referring to obtain from the U.S. Administration to permit new drilling in the United States that This case does not come back on the carpet. But the U.S. market is essential for BP. It represents 26% of its oil and gas worldwide, 40% of its sale of petroleum products and 56% of its refining capacity. This ecological disaster is challenging deep and lasting development of BP across the Atlantic.
The pension reform presented Wednesday, June 16 by the Labour Minister, Eric Woerth, will help reduce the government deficit in France to 0.5 by 2013, when the government pledged to reduce it to 3 % of gross domestic product (GDP), according to estimates provided by Bercy.
"This reform helps to improve the deficit by about 0.5 percentage points of GDP by 2013, it was argued in the entourage of the Minister of Economy Christine Lagarde. By 2020, the measures announced by the government "would reduce the government deficit by 1.9 percentage point of GDP, they added the same source.
The government deficit (state, corporate and local) of France, formed by the crisis, should beat a new record this year, 8% of GDP.The Government is committed to the European Commission to take on the 2013-3% limit allowed by the European Stability Pact.
Brussels said Tuesday that France would "specify" the budget saving measures planned to take its objective and could be forced to take further.
The objective, "not less deficit, a deficit from zero in 2018," insisted Eric Woerth at the presentation of the proposed government reform, Wednesday, June 16 The key measure for achieving this and the decline of the statutory retirement age to 62 years. And a whole series of other measures, which help the rich, business, capital, etc..
Read about: Pension reform: who pays?
In total, the combined revenues related to raising the legal age of retirement, the alignment of the public on the private and various taxes and levies increases, will amount to 27.2 billion euros in 2018.
The government also plans to switch the unemployment insurance contributions on pension contributions from 2015, assuming a return to the green accounts Unedic.This shift would provide 1 billion euros of additional revenue in 2018.
In addition, the funding for the state retirement officials will now be frozen at its current level of 15.6 billion euros a year. This non-worsening deficit is included as a gain by the government in its calculations of pension funding. A calculation that is questionable to say the president of the National Fund of retirement, Daniele Karniewicz that "the account is not there".
The proposed reform of the government does not provide that additional income: it also includes a series of "fair" and "positive" in the words of the Minister of Labour.Maintenance of the device "long careers, can leave at 60 years under the" hardship "increase the number of terms validated during the period of youth unemployment, maternity leave compensation to the calculation of pensions for women, exemption from wage costs for companies that hire unemployed over 55 years, etc. … total, these measures will cost 1.3 billion euros in 2018.
What funding after 2018?
So in the end, the 42 billion euros needed to finance pensions in 2018 will be well assured, if it is based on calculations of the government. But before? Meanwhile the "deficit 0", the accumulated holes will be financed by the Pension Reserve Fund (RRF), whose assets reached 34.5 billion euros.The fund, which accumulates up financial reserves and is fed by a levy of 2% on income from property and investment.
It was established in 1999 by the Socialist government of Lionel Jospin to face the demographic shock expected after 2020. His assets should therefore not be released to the origin before that date. In fact in 2020 that the generations of the baby boom, the "boomers" of today, are retiring. The FRR was hoping to further capitalize on the funds entrusted to him and was expecting an available amount of 87 billion euros in 2020. This is not the case. All of its funds should indeed be engulfed by 2020.
And after 2018? A great deal of uncertainty about the future: the reform of government does not respond to this question. He places the cursor on the age of retirement in the heart of its reform.But the economic gains of this variable on the long term fading. According to the ROC, the rise of legal age to 62 years provides an improved pension deficit by half in 2020, then fourth in 2030 and only 15% in 2050. Indeed, after raising the age completed, improving the balance is reduced as a result of the increase in the average pension.
The objective, "not less deficit, a deficit from zero in 2018," insisted Eric Woerth at the presentation of the proposed government reform, Wednesday, June 16 The task is not easy: the deficit in pension schemes (public service, and general system of private supplementary pension schemes) will reach 42.3 billion euros in 2018, when the government stopped the cursor reform. Who will pay?
Employees. It is they who will have to bear the brunt of the effort. For they will have to work longer. The legal age of retirement, currently set at 60, will be gradually increased to 62 in 2016, reflecting an increase of four months each year from 1951 generation. Those who turn 60 in 2016 (the generation born in 1956) will have to wait two more years to retire.Age to automatically receive a full pension will increase from him in the same way from 65 to 67 years. Meanwhile, under the Fillon reform in 2003, the contribution period needed to receive a full pension will be raised to 41 years and three months in 2013 for the generation of 1953 and 1954) and 41.5 years in 2020. These measures on the parameters of age should bring 18.6 billion euros in extra revenue, slightly less than half the need of pension funding in 2018.
Officials. In the name of "fairness" of the reform, the officials of the Public Service will have to pay as much as private sector employees for their retirement. Their contribution rate will increase gradually from 7.85 to 10.55%. The alignment will be spread over ten years, an increase of 0.27% per year. For Eric Woerth, the affect the purchasing power of officials is "very moderate".This, coupled with the abolition of early retirement for employees who have three children and the allocation of the guaranteed minimum under conditions of having quarterly contribution will have a positive financial impact of 4 billion euros in 2018 as calculated by the government.
Read about it: Why pay officials might decrease
Companies. They no longer will not escape "the solidarity effort" required by the pension reform. The calculation of relief on low salaries (up to 1.6 times the SMIC) enjoyed by employers, so far calculated monthly, will be annualized. This means concretely that the thirteenth month and premiums will now be incorporated into the calculation. This measure will yield 2.4 billion euros in 2020.Removing the cap on the share of costs and burdens on dividends received by a parent company from its subsidiaries should add 250 million in 2020. Either a total 2.65 billion euros of new revenues paid by businesses.
Capital. Raise taxes on capital gains from sale securities (stocks, bonds) and real estate, the standard deduction on dividends and interest, taxable capital gains realized on the sale of stock or bond tax income, elimination of tax on dividends received by shareholders, these measures on capital income will yield 1.34 billion euros in 2020.
Rich. Nicolas Sarkozy had announced: high incomes will be involved. The marginal rate of the top of the income tax will rise from 40% to 41%.This "solidarity contribution pension", which will apply to 340,000 tax households reporting more than 69,783 euros a year, will not be taken into account in the tax shield. The measure will yield 290 million in 2020. In addition, payroll taxes on stock options (side beneficiaries and employers) and taxes on pensions hat which directors of large enterprises will be increased. In total, these taxes on the rich should bring 630 million euros in 2020.
The combined revenues related to raising the legal age of retirement, to align the system of public and private that the various taxes and levies increases, and shall rise to 27.2 billion euros 2018. The government also plans to switch the unemployment insurance contributions on pension contributions from 2015, assuming a return to the green accounts Unedic.This shift would provide 1 billion euros of additional revenue in 2018.
The coffee burns. Around 1000 GMT (1200 Paris), Arabica for September delivery traded on the NYBOT-ICE touched 162.95 U.S. cents per pound, its highest level since early March 2008, garnering over 12% compared to Friday last. Robusta (September) traded on Liffe in London soared to 1,595 dollars per tonne, its highest since early March 2009.
"The explosion in prices is explained by fears of supply failing to keep up with demand," commented analyst at Commerzbank.
Indeed, the tight supply from Vietnam and Central America support prices, as fears about the effect expected from the ongoing harvest in Brazil, the largest producer of coffee, according to Michael Hewson, an analyst at CMC Markets.Furthermore, demand continues to strengthen in key import markets such as Europe, Japan and the United States.
"The markets are catching up after a while to take into account" the tension on the fundamentals of supply and demand, noted Kona Haque, analyst at Macquarie, to the extent that the rebound is reinforced by a renewed interest to speculative investors taking advantage of a slight weakening of the dollar.
"The supply-demand balance of the arabica market suggests another deficit in 2009/2010 season, also highlights the analyst, noting also that the European stocks of coffee have shown a decrease in April .
The greenback fell Wednesday to 1.2353 dollars per euro, its lowest level in two weeks, making them more attractive purchases of raw materials denominated in dollars for investors provided with other currencies.
