Dexia Credit Local, Dexia's French subsidiary, said Friday it has launched a takeover offer for 700 million euros of subordinated notes issued in November 2005.
The bank stress due to the dismantling of the debt crisis in the euro area, said in a statement that this operation is intended to strengthen the equity "hard" and Dexia its French subsidiary.
"The net result of the sale and implementation of the tender offer will be neutral in terms of liquidity and result in improved equity and hard of Dexia Credit Local ( DCL), "says the bank.
Dexia had said late last year want to recapitalize its subsidiary DCL 4.2 billion, including € 2.5 billion through the conversion of subordinated loans s.
In the match that opposed them remotely Friday field of employment, Nicolas Sarkozy announced at the Petit Couronne do restart the refinery Petroplus temporary while in Florange, Francois Hollande has proposed to oblige companies to find a buyer. Relive the game minute by minute.
This afternoon, a new match was held at a distance between Nicolas Sarkozy, visiting the Petroplus refinery in Petit Couronne, and François Hollande, who moves in Florange to meet with employees of Arcelor Mittal. Two strategic locations in the field of employment. The outgoing president has announced a 6 month contract with Shell and restart the refinery. The Socialist candidate, himself, proposed a law requiring companies to find a buyer when leaving a site. Back to the duel of "saviors of plants".
2:05 p.m.: Arcelor Mittal is dismissed by the High Court of his application for entry ban to anyone outside the service in its application was primarily site.Cette the many journalists covering the occupation of the site by employees.
14:00: Nicolas Sarkozy said that would be discussed next week in Parliament a bill to prevent the diversion of assets of a failing firm, regarding the Petroplus oil declared bankrupt since late January.
14:00: "Now we need you to fight for the more difficult is that the buyer", said also the head of state. There are 3 or 4 buyers interested [...] So far we have not yet found "
. 1:52 p.m.: With regard to the financing, the president ensures that for two months of work needed to restart the refinery, "was 50 million. The 20 million were transferred to the state, 10 million will come through quotas CO ², and the other 20 million cash avanace Schell in "
1:50 p.m. "Last night later, we signed a processing contract, which guarantees refining activities for a period of 6 months. If there was no contract, it was over. The oil company will provide the gross pay and the cost of processing.
1:40 p.m.: Francois Hollande reacted to the news of Nicolas Sarkozy: "It is in fact only get the former owner of the site. This is going to the most urgent."
1:20 p.m.: "I am a word. It is signed" with Shell, said Nicolas Sarkozy, adding: "I'm not saying it saves the refinery, but it is signed, it makes the job for six months ".
Holland made two proposals
1:18 p.m.: Holland wishes to clarify that he came as an MP, and is prepared to file a bill: "When a large firm does more than one production unit but does not give the, we will do a bill that will force him to appeal to buyers. " Another proposal: the businesses that use too much to pay the interim benefit of unemployment contributions. He is applauded by employees.
1:10 p.m.: The Socialist candidate speaks. He says he wants to defend the steel industry, "sector of excellence". "I come before you to make commitments. I am aware of the anguish that is yours." He adds, to the attention of its competitors: "There are candidates and candidates of the people who claim to serve the people"
13.00: Francois Hollande arrived at the plant Arcelor Mittal, where he has not spoken yet. It stands in the middle of union representatives, who express their demands, after climbing a truck.
12:45: The president finally arrives on the site. Francois Hollande, is always expected Florange.
11:50: The PS deputy for Seine-Maritime, Laurent Fabius, was invited by surprise on the Petroplus refinery site to welcome Nicolas Sarkozy.
11:45: Nicolas Sarkozy will meet in closed session with the staff representatives and administrators of the Petroplus refinery.
Faced with a record unemployment rate since 1999 that is almost symbolic of the 3 million people, the head of state has recently invested personally in two emblematic cases of companies threatened: the Lejaby lingerie factory Yssingeaux (Haute-Loire) and the solar panel manufacturer Photowatt to Bourgoin (Isère). Candidate since Feb. 15 to a second term, Nicolas Sarkozy made a record of his two electoral argument to illustrate his determination to protect "the France of the factories". "If I had said as they (the Socialists) + we + can not do anything, Alstom would no longer exist, Photowatt we do speak of it and Lejaby would have been wiped off the map", he said Thursday at a public meeting in Lille.
The Indian airline Kingfisher Airlines Tuesday seemed about to collapse under the weight of its debts, flight cancellations are being multiplied for almost a week and the resignation of Drivers accumulating tens.
Vijay Mallya, the liquor magnate who controls the airline and gave the same name as his famous brand of Indian beer, said he was determined to save Kingfisher, blaming its financial difficulties with the freezing of bank accounts by the tax.
There is in India no legal requirement for companies to declare bankruptcy. Kingfisher, an Airbus customer, so could the curtain down overnight due to lack of funding, warn analysts.
"If they can not find fresh capital, of course, they are condemned. They have the money or for maintenance or for wages or for anything else, "he told Reuters Lillaney Sharan, an analyst specializing in aviation for Angel Broking. The action
Kingfisher has plunged nearly 20% Tuesday, the day the company was called by management of Indian Civil Aviation to explain the cancellation of more than 100 of its flights during the four days
. At the end of the meeting, the Indian regulator said he had obtained guarantees of Kingfisher on bank financing and the action has erased all its losses
……. .. Kingfisher, which last year was still the second Indian airline, has reached any profits since its inception in 2005, suffering from the flew e fuel prices and fierce competition from low-cost airlines.
Indian market yet fast-growing, nearly 20% in 2011, the turnover of Kingfisher declined since late 2011.
The group acknowledges a debt of $ 1.3 billion (984 million), and lack of liquidity, it no longer pays the salaries of its employees and accumulates unpaid tax, adding, according Kotak Institutional Equities, $ 477 million in debt.
The action Kingfisher plunged nearly 60% since January 2011, melting the market value of the group at $ 269 million.
News reports bring to 300 the number of pilots who have resigned since last September. The Mint newspaper said, citing a government official, also reports that Kingfisher will return two Airbus A320 to companies leasing aircraft because of defaults.
According to the latest data from Airbus orders over Kingfisher deal 32 single-aisle A320 family aircraft, 20 A330s, five long-haul A350 and five A380 super-jumbo.
Untouchables, the movie event of the year, flies very high-ranking competitors in 2011 profitability of French cinema. To determine the rate of return, the French film has compared the box office feature films with budgets. According to the weekly, a film made a good performance from the moment it reaches a depreciation rate of 25 to 30%. Besides the top 10 most profitable films, the production of relatively expensive, at over 10 million, do not cross the breakeven point of 25%. And therefore rely on the DVD release to get there. Inside here, in pictures. 1/17
Previous Previous PauseSuivant 1. Untouchables: 602.58% Next Photo 2/17
Previous Previous PauseSuivant 2. War is declared: 150.2% Next Photo 3/17
Previous Previous PauseSuivant 3. Polishes: 112.29% Next Photo 4/17
Previous Previous PauseSuivant 4. Nothing to Declare: 102.43% Next Photo 5/17
Previous Previous PauseSuivant 5. Women on the 6th floor: 99.75% Next Photo 6/17
Previous Previous PauseSuivant 6. Tomboy: 84.67% Next Photo 7/17
Previous Previous PauseSuivant 7. I, Michel G, billionaire, master of the world: 78.26% Next Photo 8/17
Previous Previous PauseSuivant 8. Pater: 61.47% Next 9/17
Previous Previous PauseSuivant 9. Check out: 59.94% Next Photo 10/17
Previous Previous PauseSuivant 10. The Artist: 54.86% Next Photo 11/17
Previous Previous PauseSuivant 34. Halal, State Police: 21.92% Next Photo 12/17
Previous Previous PauseSuivant 35. My worst nightmare: 21.23% Next Photo 13/17
Previous Previous PauseSuivant 40. The cruise: 18.67% Next Photo 14/17
Previous Previous PauseSuivant 41. A monster in Paris: 18.25% Next Photo 15/17
Previous Previous PauseSuivant 45. Largo Winch 2: 16.84% Next Photo 16/17
Previous Previous PauseSuivant 59. The Rabbi's Cat: 12.67% Next Photo 17/17
Previous Previous PauseSuivant 61. A happy event: 12.4% Next Photo
PagesJaunes announced Wednesday that its board would propose as an exceptional pass the dividend for 2011, after registering a decline in its revenues and profit margins last year.
Heavily in debt, the publisher of printed directories and online, the site owner geolocation Mappy, saw its net cash flow to fall by over 20% last year, penalized by including the rising cost of its debt.
The full year 2011, its turnover stood at 1.1 billion euros, in line with market expectations according to Thomson Reuters I / B / E / S, This represents a decrease of 2.1% over the previous year.
Its gross operating margin (GOM) totaled 493.1 million euros, down 4.8%.
The group said it expects for 2011 a decline of about 2% of its turnover and a GOM between 485 and 500 million euros, an objective that was lowered in July to reflect impact on its business of social movements before the summer.
For 2012, the group says aimed to stabilize its revenue after two years of decline, thanks to the growth of its business on the internet which should represent 60% of its total turnover.
It also anticipates a GOM between 470 and 485 million euros.
European shares opened slightly lower Tuesday after Moody's decision to lower the perspective of the AAA rating of certain European countries, including France and the UK , and lower that of six states, including Spain, Italy and Portugal.
The Moody's decision weighs on market sentiment already dominated by concerns about the ability of Athens to carry out drastic austerity measures required by its lenders in exchange for a new aid plan.
"It is clear that (the decision by Moody's) do not change the deal, but they come at a time when investors are asking questions about risky assets, following a period of strong growth" said Chris Weston, institutional trader at IG Markets.
The euro and British pound lost ground against the dollar after this announcement, as the yen after a new policy easing by the Bank of Japan.
The day will be full of economic indicators including the German ZEW index and industrial production in the eurozone, as well as new auctions of sovereign debt in Europe.
In the afternoon, investors expect sales to particular details of the U.S. in January and business inventories for December.
The Paris CAC 40 index yields 0.3% to 3,374.97 points in early trade, the German Dax lost 0.1%, the UK FTSE 0.16% and the pan-European index STOXX 50 was down 0.18%.
Bank stocks in Europe (-0.57%) are among the largest declines, with insurers (-0.53%) and commodities (-0.8%).
In Paris, BNP Paribas lost 2.7%, largest drop in the CAC 40, followed by Credit Agricole (-1.64%) and Societe Generale (-1.5%).
Alcatel-Lucent continues to rise they began Friday after the publication of its first profit since 2006, and earns 4% plus increase in the CAC.
L'Oreal takes 2.1% after posting results slightly exceeded expectations, marked by a recovery in margins, and have said "well armed (…) for another year of growth in turnover and results. "
The U.S. trade deficit widened slightly more than expected in December, the acceleration of growth with increased imports to their highest level in three and a half years.
The figures released Friday by the Commerce Department also show that the trade deficit with China set a new record over the entire 2011 to 295,500,000,000 dollars (224 billion euros) , a figure that could stimulate discussion often strained between Washington and Beijing within days of a high-level meeting between the two countries.
The monthly trade deficit stood at $ 48.8 billion in December, as imports reached their highest level since July 2008, just before the financial crisis do fall world trade.
Analysts polled by Reuters had expected an average monthly figure of 48.0 billion. The November deficit was revised to $ 47.1 billion against 47.75 billion originally announced.
U.S. exports rose slightly in December (0.7%), but nearly two times less than imports (+1.3%).
For Omer Esiner, strategist at Commonwealth Foreign Exchange in Washington, the slow growth of exports in December could be due to "a fairly soft global demand," a bleak trend.
"Continuous improvement of economic growth here (United States) will result in an increase in imports. But a slowdown in the exports would be a concern: they played a big role in the improvement seen last year, "he says …….
.. The dollar was up against the euro Friday as investors attaching greater importance to the evolution of the debt crisis in the area euro as U.S. data
. CHINA, SENSITIVE PARTNER
Over the whole of 2011, the trade deficit the U.S. has increased from 11.6% to 558.0 billion, a level not seen since 2008 …….
.. Exports rose 14.5%, exceeding for the first time the threshold of 2.100 billion, a growth that leaves the U.S. economy ; Rican on track to achieve the goal set by President Barack Obama, namely a doubling of exports in five years.
Meanwhile, U.S. imports recorded an increase of 13.8%, to nearly 2700 billion. Foreign car purchases included at their highest level since 2007 and oil imports its highest since 2008.
The average price of imported oil has registered a record high in 2011 to 99.78 dollars a barrel.
Unprecedented deficit with China is expected to fuel the concern expressed by Congress against the policy of the People's Republic, regularly accused maintaining the undervaluation of the currency to help its exporters.
Especially since Barack Obama is scheduled to meet next week the Chinese Vice President Xi Jinping, considered a future issue of the regime.
U.S. exports to China jumped 13.1% last year to $ 103.9 billion while imports reached 399.3 billion (+9.4%).
China has published its side Friday figures showing a reduction in its current account deficit in 2011, which provide an additional argument to support it seeks to reduce its dependence on external demand.
However, a sharp decline in imports in January coupled with a decline slowed exports resulted in the largest trade surplus for six months.
Trade deficits of the United States with the European Union and Canada have also increased in 2011 to 99.2 billion and 35.6 billion respectively.
The Swiss government said Wednesday it has chosen to renew its fighter fleet with 22 copies of the Saab Gripen of Sweden, preferred to Dassault Aviation's Rafale and the Eurofighter consortium which includes the European EADS.
Switzerland was launched three years ago the tender for the renewal of its fleet, now consisting of F-5E / F Tiger built by the American Northrop, whose older copies have been flying since 1976.
She originally planned to order up to 33 devices.
The Industry Minister Eric Besson confirmed Wednesday that the price of gas and electricity for individuals would be maintained until the presidential election, despite requests from EDF and GDF Suez.
The Minister of Industry and Energy Eric Besson confirmed Wednesday that the price of gas and electricity for individuals would be maintained until the presidential election, despite the attacks to justice and GDF Suez of other gas suppliers. Asked about RMC and BFM TV about the continued freeze gas prices to presidential, Mr Besson said: "Yes. The Prime Minister made this decision and he made it clear to the national representation . (…) In any case for individuals. "
"We have a simple thesis is that the increases should be extremely limited so as not to influence the purchasing power," he noted, without being able to specify whether this also applied to the gel subscription. For electricity, Mr. Besson is back in a statement to AFP on the remarks made earlier on the air. "It will increase slightly, probably," he said on BFM TV and RMC. "I do not know (when) we will discuss this with EDF."
Asked by AFP, the Office of the Minister of Energy said: "Eric Besson reaffirms that in accordance with the arbitration of the Prime Minister, electricity rates applicable to individuals are frozen until 1 July 2012, and no decision is expected to increase. "
The Tokyo Stock Exchange ended slightly higher Friday, recovering from the fall of the day in favor of positions suggesting investors anticipate the possibility of a rebound despite the persistence of the debt crisis in Europe
The Nikkei gained 0.16% or 13.67 points to 8,514.47 while the Topix, larger yielded 1.17 points (-0.16%) to 729.13.
On the whole a week marked by a deepening debt crisis with the record level by the Italian sovereign bond yield, the two indices lost 3.3% and 3%.
Title Olympus finished down 4.96% to 460 yen after a volatile session.
