Air Liquide finds no significant decrease in demand of its customers and believes that the market environment for the group was relatively normal, except for some adjustments in the electronics, said Tuesday its CEO Benoît Potier.
"We do not see a significant drop in consumption by our customers.At this point we can say that the economy remains strong for Air Liquide, "said the boss of the world's largest industrial gases reporters.
He was speaking on the sidelines of the presentation of tests of electric vehicles to hydrogen at the Circuit de Marcoussis (Essonne).
"The environment was relatively normal, so the consumption of our customers large and small ways consistent with what we had until now," said Benoît Potier, whose group has clients in sectors as diverse as Health, refining and steel.
Air Liquide was confirmed in early August target steady growth in net profit in 2011 "in a normal environment."
Asked if he confirmed the group's objectives in 2011, Benoît Potier declined to comment, a few weeks before the publication of revenue for the third quarter scheduled Oct. 26.
The strategic plan "Alma 2015", introduced in December 2010, is an average annual growth of 8% to 10% of sales – compared to 9.2% as reported in the first half of 2011 – and a sustained increase of Net income in the past five years.
The share was down 1.18% to 85.66 euros by 24:50, outperforming the market, down 2.7%.
The state has proposed 10 to 15 billion euros to French banks to strengthen their capital in the same way as in 2008 but the project was buried because of the opposition BNP Paribas, wrote the Journal du dimanche.
Citing unnamed sources close to banking and the Elysee, the Sunday newspaper added that this proposal was made at a meeting on September 11, between the Director of Treasury and leaders of BNP Paribas, Societe Generale, Credit Agricole, People's Bank, Savings Bank, and Credit Mutuel.
Approached by Reuters, the Treasury has made no immediate comment. The governor of the Banque de France, Christian Noyer, assures him in an interview with JDD that "there is no plan.And besides we do not need. "
He emphasized that "the only thing that exists is the mechanism 2008 of a public company may purchase securities in the capital of banks if they express a need. So if there was an extraordinary event, this mechanism is place, "a statement which does not seem inconsistent with the alleged proposal of the French authorities cited by the JDD.
According to the JDD, "the state has offered to support French banks in the same way in 2008.""The pattern was to inject this time between 10 and 15 billion euros of public money to strengthen their capital base."
"Many intervention schemes were under consideration, simple loan to the issuance of preferred shares with warrants," the paper said.
Societe Generale, whose share price tumbled, accepted this solution provided all the French banks involved but "BNP Paribas declined to be supportive, burying the project immediately," the JDD.
Contacted by Reuters, BNP Paribas and Societe Generale had no comment.
To address the financial crisis following the collapse of U.S. bank Lehman Brothers, the French government established in the fall of 2008 a plan to help the banking sector by mobilizing a budget of 360 billion euros, including 40 billion to build equity and 320 billion to help banks refinance themselves via the Company's financing of the French economy (SFEF).
The Court of Appeal of Paris Thursday approved the waiver of tender offer (OPA) given to Hermes by the Financial Markets Authority (AMF), giving the luxury group the green light to build his family holding company .
To counter the aims of LVMH, who had taken a surprise 17% stake in Hermes October 2010 (which has since increased this stake to 21.4%), the family shareholders of Hermes had opted for the creation a privately held holding company comprising 50.2% of the capital.
Legally obliged to launch a takeover bid for the balance, they had requested a waiver that had been granted by the AMF in January and has been an appeal by the Association for the defense of minority shareholders ( Adam).
The trading of the Hermes is suspended on Thursday.It will resume Friday.
Increase in VAT on theme parks, removal of reliefs on capital gains immobiliaires, higher taxes on mutual health … The anti-deficit in 2011 are discussed starting Tuesday in the Assembly. The key points of a heated debate.
One billion euros. This is the amount of additional tax revenue for 2011 that the government is seeking at the extraordinary parliamentary session that opens Tuesday. MPs must rule on the immediate implementation of five measures forming part of the austerity plan announced there ten days by François Fillon. Knowing that all of this will be discussed in the fall during the budget debate in 2012 with the goal to bring 12 billion euros. However, these emergency measures are far from unanimous, even among the majority.State of Play.
Stay for abatements on real estate gains?
One of the most important steps is one of the most contested. The government intends to eliminate deductions on real estate gains (excluding primary residence) for any sale agreement signed after August 25. Knowing that the current system reduces the taxable gain on resale of 10% per year from five years in prison. This opens the way for a full exemption after 15 years. The removal of this niche could yield 200 million in 2011 and 2.2 billion euros in 2012.
Problem, if not convicted on the bottom on the left, it is hotly contested within the ranks of the majority."The government is open to criticism and amendments, provided they do not involve the amount of effort or their balance," said François Fillon at the close of the summer university of the UMP party this weekend. Jean-Pierre Raffarin, however, already announced the abandonment of the measure, after a meeting with Nicolas Sarkozy.
A tax on Luxury Hotels?
This would be to find a way to offset the 90 million savings that would bring the increase. Gilles Carrez considering a tax on room rates at luxury hotels. "Politically, it's interesting," admits a source member. The measure would involve the wealthiest, while a tax on theme parks to be targeted to benefit the middle class. But industry lobbyists are already lashing out at the proposal, supported in this by the minister of tourism.This tax "would be a blow to the competitiveness of French tourism," he told Le Figaro said Frédéric Lefebvre fear that the net worth be tempted to go "to other capitals cheaper."
A measure that sickens mutual
The plan discussed Tuesday also plans to increase from 3.5% to 7% special tax on insurance agreements "caring and responsible." Or most of the contracts offered by mutuals. The measure could yield 100 million in 2011 and $ 1.1 billion in 2012. But it suffers, too, the fire of criticism, the opposition is doing this over from another. "The government did not want to touch the heart of its policy, but he has not forgotten detaxerles middle and working classes", then "it is already becoming increasingly difficult to treat" was criticized in Martine Aubry reaction."
This calls into question deeply the objectives of access to care and control advocated by the French Mutuality. (…) The taxes on health insurance organizations additional (…) were multiplied by twenty "protested the president of the French Mutuality, Etienne Caniard, in a letter to Nicolas Sarkozy.
Two taxes more consensual
This is the increase of 12.3% to 13.5% of payroll taxes on capital income (200 million gain in 2011, 1.3 billion in 2012) and harmonization of the report of deficits in taxes on companies with the rules in force in Germany (500 million and $ 1.1 billion.)
Exxon and Rosneft have signed an agreement Tuesday to exploit reserves of oil and gas in the Russian Arctic.
The agreement, signed in the presence of Russian Prime Minister Vladimir Putin, includes assets that BP expected use and thus reduces to nothing the hopes of British oil to boost its own agreement with Rosneft, which was blocked in May by its partners in a Russian joint venture.
Exxon and Rosneft will invest $ 3.2 billion in the development of Prinovozemelski blocks is 1, 2 and 3, located in the Kara Sea and the Black Sea Tuapse block.
Rosneft will be offered in exchange for participation in various exploration projects Exxon in North America and elsewhere.
The U.S. Treasury said Monday it plans to borrow 331 billion dollars (232 billion) in the third quarter of 2011, less than what was originally anticipated.
A Treasury official, who said the U.S. government had ended the second quarter with more cash than expected, said the department was assumed that Congress would raise the debt ceiling of the United States before the deadline Aug. 2.
Elected Republicans and Democrats, after months of discord, are working extra hard to try to vote Monday or Tuesday the agreement reached at the last minute to raise the debt ceiling of the United States.
The agreement announced Sunday evening by President Barack Obama plans to reduce the U.S. deficit of at least 2400 billion in 10 years and should allow the world's largest economy to avoid being in default.
Royal Dutch Shell posted Thursday a 77% increase in net profit in the second quarter compared to last year, prices of oil and sustained asset sales more than offset a decline in production.
Shell's net income to current costs reached $ 8.0 billion (5.57 billion euros). Excluding items, the result stood at 6.55 billion, just below the average forecast of eight analysts polled by Reuters (6.70 billion).
Rival BP reported Tuesday a profit below expectations in the second quarter, while the market awaits the giant Exxon Mobil in the day it displays a jump of 50% of its underlying net profit.
He said much the same thing to both commissions.
Ben Bernanke said a default on U.S. debt would be devastating. "It would be a disastrous outcome," he said. "This would create a severe financial shock that would impact not only on the U.S. economy but also on the global economy."
Do not raise the ceiling of the debt on time would be a "self-mutilation" for the economy, he tried.
Budget negotiations between the White House and Congress are at an impasse.The Republicans want 2,400 billion in spending cuts in return for their agreement to raise the debt ceiling, currently at 14,300 billion.
The Treasury said it would be short of funds if an agreement was not reached recovery by the deadline of August 2.
Moody's said Wednesday that the U.S. AAA rating was in danger if this issue was not resolved, prompting Beijing to urge Washington to protect the interests of investors in government debt.
An employee of Congress said Thursday that Standard & Poor's warned MPs privately that it could reduce the note if the U.S. Treasury was forced to prioritize reimbursements because Congress would not raised the ceiling on the debt.
Bernanke reiterated that the Fed was prepared to act if the recovery was showing signs of fatigue. The U.S. grew 1.9% in the first quarter of 2011 and is unlikely to do better in the second.
"Given the high uncertainty about the evolution of the economy, we must preserve all options, both for an easing or tightening," he said. "However, we are already exceptionally accommodating and the recovery is really slow."
Air France-KLM confirmed on Thursday the announcement for this summer's mega-control devices, its chief executive noting that Airbus and Boeing offered each of the competitive products.
One hundred MPs have launched a petition in June to urge Air France, which the state holds 15.7% stake, to choose the future long-haul Airbus A350 instead of the Boeing 787 "Dreamliner" for his next command, which could include hundreds of devices.
"Both offer very competitive products in terms of technical performance and economic performance, our work is to improve this proposal, especially economically," he told reporters after the general meeting.
Shareholders voted 94% for four years the renewal of the appointment of Pierre-Henri Gourgeon, who became Group Chief Executive on 1 January 2009.
Pierre-Henri Gourgeon declined to comment on press reports indicating the imminence of a decision, possibly as early as July, the appointment of a general manager for Air France, in the part of an overhaul of the governance of the group.
The favorite to lead the Air France is Juniac Alexander, Chief of Staff of the former economy minister Christine Lagarde who has been leading the International Monetary Fund (IMF) Tuesday, according to the press.
Air France-KLM has returned to profit in 2010-2011 thanks to the resumption of traffic and cost savings, but decided not to pay a dividend to ensure its long-term goals, including reducing its ratio of debt.
The shareholders also voted 97% passing results on the calendar year instead of stalling the pace of the International Air Transport Association (IATA), whose financial year from 1 April to 31 March.
The group anticipates for 2011 an increase in operating income compared to 28 million in 2010 thanks to its resistance to an environment made uncertain by the "Arab Spring" and rising oil prices.
Air France-KLM has also announced a 2.9% increase in passenger traffic in June.
The stock closed down 2.45% to 10.53 euros, thus showing a decline of nearly 23% since the beginning of the year.
The first quarter GDP is estimated at 1.9% yoy against 1.8% previously.
Economic growth in the United States in the first quarter was revised up slightly to 1.9% annual rate according to the third assessment published Friday by the government. This estimate is slightly different from 1.8% published in late May Analysts had expected the Commerce Department would keep.
The ministry said it had revised down imports, which are deducted the gross domestic product in the calculation used by the United States, and increased stockpiling by businesses.
The growth rate of the world's largest economy is nevertheless disappointing. The third and fourth quarters of 2010, the United States saw its GDP grow by 2.6% and 3.1% annual rate over the previous quarter.And the government and the central bank had forecast in early 2011 on a further acceleration of the economy. She slowed the contrary, due among other things, a sharp rise in oil prices, which severely affected the purchasing power of Americans.
Household consumption (which accounts for 70% of the U.S.) rose 2.2% year on year (estimate unchanged), after 4.0% in the fourth quarter. She brought 1.52 percentage point of growth. The investment has paid better, increasing by 12.4% and contributing nearly as much growth (1.46 points). He was helped by the rise in stocks (1.31 contributed to the growth point).
With the end of the recovery plan in March 2009 federal budget problems and state and local governments, public spending has been a negative factor for growth (-1.20 points). They had never fallen as much since 1983.
The majority of economists, growth in the second quarter should have been at best a bit faster than the first, but clearly insufficient to bring down unemployment, which affects the United States.
