United Parcel Services (UPS) agreed to pay nearly 5.2 billion euros to buy Dutch rival TNT Express, announced Monday the two groups, an operation that will allow the gen ; American ant-mail and logistics to gain strength in Europe.
TNT said its management board and supervisory board would support unanimously the offer of 9.50 euros per share, higher than 0.50 euro to the initial offer submitted in February.
The largest shareholder group, PostNL, which holds 29.8% stake, has also expressed support for the operation, which will create a global leader displaying 45 billion euros turnover.
The joint statement from both groups noted that the offer represents a premium of 53.7% over the closing price on February 16, the day before the announcement of the opening of discussions between the two groups.
UPS, already world number one, had long been interested in TNT in order to develop in Europe, including Britain, France and Germany.
The tender offer ends years of speculation about the future of the Dutch group, divided by PostNL, the Dutch post and the year listed separately last.
Faced with declining profits and the unfavorable business outlook for 2012, management of TNT was subjected to pressure from shareholders "activists" such as investment funds Jana Partners and Alberta Investment Management.
Friday, UPS had said further discussions "constructive" with TNT, four weeks after the latter's rejection of its initial offer to 9.00 euros per share.
The U.S. group said Monday that the purchase of TNT will have a positive impact on its financial results for the first year and is sure to get all the official permits for the conduct out.
The sustained improvement in the U.S. labor market continued in February for the third consecutive month, confirming the scenario of a broadening recovery é economic.
The economy created 227,000 non-farm jobs last month, according to statistics from the Labor Department, and the unemployment rate remained at its lowest level in three years, 8.3%.
This is the first time since early 2011 that the new posts remain above 200,000 for three straight months.
The figures for December and January were also revised upward, from 61,000 in total.
Economists polled by Reuters had expected an average of 210.000 jobs created in February after the figure of 243,000 was originally planned for January.
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.
In 2009 women earned on average 20% less than men in the private sector in working time equivalent, according to latest figures from INSEE. This is due largely to different qualifications. However, even within each occupational category, the differences remain. Of employees in an office in Caracas Noticias24.com website.
In 2009 women earned on average 20% less than men in the private sector in working time equivalent, according to latest figures from INSEE showed on Wednesday. "In 2009, the average net salary in full-time equivalent for women is 80% of men in the private sector and 87% in the public sector," wrote the Statistical Institute. The conclusion was the same for 2008. "This is due partly to a structure different skills," said INSEE, "for example, 19% of men are employees of private frameworks against only 12% of women." However, even within each occupational category, "gaps remain," added INSEE survey in the "Jobs and wages".
Among managers of private, women's wages is less than 23% and 21% in the public, illustrates INSEE, noting that the gap "can be partly explained by an effect of glass ceiling + +, but also by other elements such as choice of specialty training, industry or career paths. " This wage gap among executives is "much less important in under 25 than among older people," adds the INSEE, which also notes that the differences "are lower in other occupational categories."
Women are more part-time
A study by the Directorate of Coordination of Research, Studies and Statistics (DARES, Ministry of Labour) in 2008 and published on 2006, frequently cited, noted 27% of gross wage gap in the private sector (about 17% in hourly wages, working time to be equal). The gender differences are also visible in the activity rate and working time. If 70% of the population aged between 15 and 64 is active as defined in International Labour Office (worked, not even one hour during a given week), the figure drops to 66, 1% for women and up to 75% for men.
This gap is much reduced between 1975 and 2009 from 31 points to 9 "under the combined effects of rising female participation rates and a decline in male activity." He explains "a large part" by the presence of young children at home "for families of two children with one (or more) is less than three years, the participation rate of mothers is 54% while that of fathers is 92%. " Finally, women are more often part-time, which only partly explained by the presence of children. "Even among the employed and childless, the proportion of women working part time is 17 points higher than men." "This is so very often involuntary part-time, women are likely to work in the service sector where the use of part-time by companies structurally important", said INSEE yet.
If the benefits of U.S. distributors to appear this week are as unimpressive as the results published so far companies, keeping Wall Street at the height of nine months will probably be difficult to justify.
Specialists believe that stock market investing in the U.S. market may resist a further increase, even with an agreement in the Greek case Monday and indicators confirming that the recovery is underway to United States.
Trading will resume on Tuesday, the markets are closed Monday for President's Day.
For the year 2012 was less than two months and the benchmark fund managers, the Standard & Poor's 500 Index was up over 8%. It is already higher than what many analysts were predicting the end of the year.
The index ended Friday at 1,361 points, its highest level since May 2011. In December, analysts polled by Reuters estimated that the index would end from 2012 to 1340 points.
If the index passed beyond 1370, it would be at its highest since June 2008, to its level before the collapse of Lehman Brothers, which took place in September 2008.
As for Dow Jones, he approaches the psychological level of 13,000 points and the Nasdaq Composite, that of 3000 points.
OPPORTUNITY TO PURCHASE
At the NYSE, 85% to 90% of the shares are treated above their 50-day moving average, said Bruce Zaro at Delta Global Asset Management in Boston. This is normally a sign that the market is overbought.
Bruce Zaro does not exclude a decrease of the S & P in the region of 1260-1270 in the short term.
Some experts, however, a passage above 1370 would be a buying opportunity.
"I'm kind of on the sidelines waiting to see it, but I'm down from there if it snaps," said Stephen Massocca, at Wedbush Morgan in San Francisco.
The percentage of companies that have published better than expected quarterly results is 64%, according to Thomson Reuters data, 404 companies have already published their accounts . This percentage has certainly improved since the beginning of the period of publication of accounts, but it is lower than 70% the last four quarters.
Among the major retailers will announce their quarterly profits this week include Wal-Mart and Home Depot.
Apart from the results and the Greek case, which should find a solution Monday, few indicators will be published this week: home sales new and old, consumer confidence according to the University of Michigan and registrations Weekly jobless.
To be continued as the general assembly of Apple Thursday and accounts of the first fiscal quarter of Hewkett-Packard on Wednesday.
The CBOE volatility index, also called fear index, fell 7.5% Friday, to 17.78. It is below the level of 25 for over two months, suggesting that investors are less worried about stock market prospects.
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
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 rapid increase of the debt crisis in the euro area threatens the credit ratings of all European states, warned Sunday the U.S. rating agency Moody's. Moody's in New York.
In a "special comment" on European countries published Sunday, Moody's says it still considers that the euro area will maintain its unity without any fault as that of Greece, but notes that even this' scenario 'positive' carries consequences very negative for the notes "of European countries. The U.S. rating agency, recently warned that France could lose its "triple A" allowing it to borrow at favorable rates in the markets, and clearly indicates that no country, even among those considered most solids, such as the Netherlands, Austria, Finland or Germany, is immune to a lowering of note.
Given the events of recent weeks, Moody's said have to consider "the likelihood of a scenario even more negative." She said "the probability of multiple failures (…) States in the euro area is no longer negligible" and continues to grow in the absence of solution to the crisis. If this probability were to materialize, it would increase the likelihood that one or more countries leave the euro area, the agency said, for whom this scenario of a "fragmentation of the euro" would have "negative repercussions for all countries the euro area and EU. " For Moody's, the situation is constantly evolving, and new "shocks" (new rescue or rising interest rates which states borrow) while policy makers define new measures are "likely to lead to changes of note in case by case "for some countries.
Faurecia announced Friday the successful refinancing for a $ 1.5 billion, the group has launched Monday.
These operations include a bond due in December 2016, for $ 350 million with a coupon of 9.375%, said the automotive supplier in a statement.
The refinancing of Faurecia also involves a new syndicated loan of 1,150 million, consisting of two bands A (690 million euros) and B (460 million), respectively of maturity in November 2014 and November 2016.
These two operations will allow us to prepay a loan of 250 million euros made by Peugeot in conjunction with the refinancing of the existing syndicated bank also said Faurecia.
Heineken, the world's third largest brewer, reported Wednesday a surprise increase in the volume of beer sold and its sales in the third quarter, supported by the strength of African markets and a rebound in sales in Russia.
Revenues rose 0.6% to 4.65 billion euros against 4.51 billion euros expected on average by eight brokers polled by Reuters.
In August, the brewer warned that weak consumer confidence, combined with a sluggish summer, would affect earnings growth this year.He also maintained its forecast for net profit before exceptional items for 2011, saying it would be roughly consistent with the previous year.
In the third quarter, net income amounted to 525 million euros, an amount virtually unchanged from last year.
The title gained 1.24% to 0800 GMT, having reached in early trade a high of two months with an increase of 4.1%.
