The French car market fell by 20.7% in January, falling to its lowest level for 14 years, the disappearance of the last scrappage sluggish economy and the sign for the sector a difficult first half. According to figures released Wednesday by the Committee of French Automobile Manufacturers (CCFA), registrations in the Hexagon emerged last month at 147,143 units, almost 39,000 less that 'in January 2011. "This is a lowest since 1998. The bad controls are not in December registrations in January (…) The first half would be difficult," said Francois Roudier Wednesday , spokesman for the CCFA. Sales of light trucks fared better, but nevertheless signed the first decline for several months with a 2.5% decline in gross (-7% on CJO) to ; 32,707 units. "This is one more indicator of the economic context, an additional amber light came on," said Flavien Neuvy, Director of the Cetelem of the car. "The trend is bad for sales to individuals, but the climate gradient will also weigh on sales to companies," he added. Around 24:30, the values are still car oriented upward, catching up after several sessions of declines. The European index sector is 2.6%, 2.1% Volkswagen, PSA and Renault 2.9% 3.4%. VERY GOOD MONTH FOR VOLKSWAGEN AND NISSAN The CCFA said that the builders who have benefited from the scrappage scheme have had their registrations plummeted. In addition, the prospect of the release of new models during the years attracted the attention of future customers, it adds. Car sales of PSA Peugeot Citroen last month fell 27.4%, while those of the Renault group tumbled 32.7% (-36.9% for the diamond brand and -10.5% for the low cost brand Dacia). In a statement, Renault blamed the decline in the ongoing renewal of its range, including the arrival of the Clio 4 in the fall. The Group nevertheless confirmed its target of a French market share close to 26.1% in 2011. Next PSA, Peugeot has also continued to be affected by pending the arrival of the 208, scheduled for spring. Other general, the Fiat brand saw its sales in France dropped by 40.9%. In contrast, German Volkswagen still has shot out of the game: Group registrations increased by 18.2%, and the only VW to 26.8% with a wide offensive in terms of products and prices. Nissan's partner Renault, meanwhile saw its sales under its own brand to increase by 19%, which allowed him to exceed the month Opel (GM group) by volume. Sign that sales may remain low for at least several months, PSA Peugeot Citroen announced Tuesday that production would be stopped a week at Mulhouse and Sochaux early March to "adapt the stocks at the request commercial ". Both sites, however, produce some best-sellers like the Peugeot 308 and 3008 and the Citroën C4 and DS4. PSA and Renault have said in recent weeks to expect a difficult environment in 2012. They expect a decline of at least 3% of the European market this year and down 5 to 8% of the French market.
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Caterpillar reported Monday a record turnover and a 44% jump in profit in the third quarter, well above analysts' expectations.
With demand strong, the world's largest earth-moving machinery and equipment for the mining industry posted net earnings of $ 1.14 billion, or $ 1.71 per share, against 792 million, or 1.22 dollar per share, a year earlier.Analysts polled by Thomson Reuters I / B / E / S on average expected $ 1.54 per share.
In pre-market, the title earned 3% after these announcements.
The turnover stood at 15.72 billion dollars between July and September, up 41%, the group called a record, as the market anticipated 15.03 billion dollars.
For all of 2011, Caterpillar said he expected sales to about $ 58 billion, including its recent acquisition of Bacyrus, whereas previously anticipated sales of between 56 and 58 billion.
Earnings per share are now expected to 6.75 dollars for the year, on top of an initial forecast range from 6.25 to 6.75 dollars.
For 2012, Caterpillar expects its sales climbed 10% to 20%.
Newly appointed head of the IMF, Christine Lagarde Nicolas Sarkozy will meet Saturday to prepare for the G20 summit in Cannes. Christine Lagarde REUTERS / Benoit Tessier (FRANCE – Tags: POLITICS)
Nicolas Sarkozy Saturday at noon will receive the Executive Director of the IMF Christine Lagarde to talk about it with "the preparation of the Cannes summit of the G20 and the situation in the euro area," the Elysee Palace said Friday.
The head of the French state will fly the next day to Berlin for talks with German Chancellor Angela Merkel poour attempt to speed up the rescue plan of the single currency.
Leaders from the eurozone continue intensive negotiations for a recapitalization of banks in the EU to address the risks of contagion from the debt crisis.
Germany has given the green light last week in the expansion of the European Financial Stability Fund (EFSF), which is waiting for the ratification of Slovakia.
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).
Greek Prime Minister George Papandreou would consider the possibility of consulting the Greeks on solutions to overcome the debt crisis, says the Greek press. The abandonment of the euro would be an option. Athens has denied this information. The Temple of Zeus in Athens.
Greek Prime Minister George Papandreou would explore the possibility to consult the public in a referendum on how best to tackle the debt crisis, or remaining in the euro area, either by abandoning the single currency, a Greek daily said Tuesday.The Prime Minister would be based on a favorable outcome for the euro to continue its drastic austerity policies applied at the request of the creditors of the country, the euro area and the International Monetary Fund (IMF), the daily Kathimerini said, Citing "sources" unidentified.
A text of the bill was under development, understands the everyday., No confirmation could be obtained from official sources on Tuesday morning. The Greek Ministry of Finance on Tuesday denied that information. "It makes no sense," said a source at the Ministry of Finance told AFP. Given the scale of protests in Greece last spring, Mr.Papandreou announced June 19 the holding of a referendum in the fall to concentrate on "the great changes that the government aims for the country", including political reforms as the functioning of parliament, the electoral system as well as an overhaul of the judicial system.
According to opinion polls, the Greeks have lost confidence in their political and judicial system, which has never been able to stem the endemic corruption in the country. The information on a proposed referendum on the euro are published at the time the Minister of Finance negotiates fiercely with the troika of the country's creditors seeking the implementation of austerity measures decided in July (fewer staff, reducing public expenditure) before paying the next $ 8 billion euros of the loan in May 2010 to avoid bankruptcy the country.
Toyota announced Friday the hiring of 800 employees on fixed-term contract on its site Onnaing (North) from January to respond to the success of the Yaris III, who is built.
The announcement was made at the plant Onnaing by Makoto Sano, president of Toyota Motor Manufacturing France (TMMF).
Toyota will put in place from January 3rd a third shift of production to meet the specifications of orders for the Yaris III, stronger than expected in Italy and the countries of northern Europe.
Toyota will hire 800 employees with contracts of 18 months. Once recruitment is complete, the size of the Toyota plant to reach Onnaing 4300 employees, a record since it opened in 2001. Toyota Onnaing site is dedicated to the production of the Yaris.
Analysts polled by Dow Jones Newswires had forecast a decline in the index to -26 points. The barometer and exceeds the level of January 2009, where he was at -31 points, and is close to the depths it reached in the second half of 2008. In July of that year he had marked -63.9 points and -63 points in October. Far supported by a robust economy, the monthly indicator has been the backlash in August concerns about growth, which slowed sharply in Germany in the second quarter.
German gross domestic product (GDP) grew by only 0.1% in the first quarter, said last week the Federal Statistical Office (Destatis). In the euro zone, GDP rose by only 0.2% from April to JuneThe fear of a recession in the United States, with the downgrade of the sovereign debt of the country by Standard & Poor's, also made the financial community more pessimistic, according to the Zew in a statement.
"The skepticism already expressed by financial professionals for the future development of the economy has amplified dramatically," said Wolfgang Franz, president of the institute, in a statement. Their assessment of the current economic situation in Germany "is certainly positive, but it is much worse than the previous month," he adds. It stood at 53.5 points against 87.5 points expected by the consensus of Dow Jones Newswires and after 90.6 points in July.
This deterioration of the index "was to wait," said Thilo Heidrich, Postbank. But the magnitude of the fall surprised economists."This is a response to fears of recession in the U.S. combined with the debt crisis in the eurozone," said Christian Ott, an analyst at Natixis. Jennifer McKeown of Capital Economics, the barometer "suggests that the worst may be yet to come."
The reaction in financial circles is "exaggerated," said Mr. Ott the contrary. "Foreign trade, less dynamic, will be offset by very strong domestic economy," he says, referring to the large investment of German companies and the positive outlook for consumer spending. "The most likely scenario is a pause in growth through the end of the year," his colleague Judge Christian Schulz, Berenberg Bank, a recession are "less likely". Mr. Schulz said that this survey was conducted in market turmoil in early August, when fears of an economic downturn seized markets."Surveys such as the Ifo (to be published Thursday, ed), the business climate, are more indicative of current developments," said Ralph Solveen for its part of Commerzbank.
The cost for a sixth grader is 187 euros, or 7% from a year ago, according Familels France. School children on the day of the new school year Sept. 2, 2010, in Vincennes
The cost of school for a student entering the sixth this year is 187.32 euros, up 6.8% over 2010, far more than inflation, according to the traditional investigation of the association Families de France (FDF) released Wednesday. "It's not good news for families," he told a press conference the President of TOT, Henri Joyeux.
Last year, the increase was only 0.63%, after two sharp declines in 2008 and 2009. This moderation was partly due, according to Families of France, the "core of the season."This offering school supplies at affordable prices was renewed this year between FDF and the retail stores, but this time without the support of the Ministry of Education. Minister Luc Chatel regretted the end of May that the discussions had "failed to reach consensus (…), in a context of rising prices of raw materials used in papermaking."
The FDF survey is carried out for 27 years. Another association, the Confederation of Families (CSF), also supplies its own annual estimate of the cost of school. It will do this year on Aug. 30, according to its deputy general secretary, Brigitte Masure.
The French economy stagnated in the second quarter compared to the previous post strong growth over the first three months of the year, preliminary figures show the national accounts published by INSEE Friday.
Twenty-eight economists polled by Reuters on average expected growth of 0.3% and their estimates ranged from zero to 0.4%.
The Banque de France and INSEE in turn provided an increase of 0.2% of GDP.
INSEE confirmed growth of 0.9% in the first quarter, which recorded the best performance for nearly five years.
In the second quarter, according to preliminary data, consumer spending of French households fell 0.7% from January to March, while investment increased by 1.4%.
The government consumption was up 0.1% from one quarter to another and their investments by 0.7%.
Investments by non-financial businesses have in turn slowed their progression back to 0.7% after rising by 1.9% in the first quarter.
Changes in inventories did not contribute to the evolution of economic activity over the period April to June while their contribution had risen 0.8 percentage points of GDP over the previous three months.
As for foreign trade, its contribution was positive by 0.3 percentage points from 0.5 points in the first quarter, imports fell 0.9% while exports stagnated, Insee said.
The carry-over in late June, that is to say the performance had been stated the French GDP over the entire year assuming no growth over the last six months of the year stood at 1.4%.
S & P has taken a decision resounding Friday: leave the first world power of the inner circle of the most reliable borrowers. Now the United States are nothing more than "AA +". To reduce the deficit, U.S. President Barack Obama largely agrees to cut public spending, including social, but demand for part-against higher taxes for the wealthy.
The rating agency Standard and Poor's lowered the rating Friday on the public debt of the United States, deprived of their "AAA" for the first time in history, citing the "political risks" facing the challenges of the deficit budget. S & P said in a statement it had lowered the rating a notch, the best possible, to bring it to "AA +".It also downgraded the outlook to "negative", which means that Standard and Poor's believes that the next time the note will change, it is to be lowered again.
It justified its decision with "political risks" to see the country taking insufficient measures against its budget deficit. For her, the political debate on these issues is not up to the problems caused by a debt of more than 14,500 billion. "The plan for balancing the budget on which Congress and the Executive have recently agreed is insufficient compared to what, in our view, would be needed to stabilize the dynamics in the medium term public debt" , said the agency, citing the law known as "control the budget" passed Tuesday.
The United States were rated "AAA" by Standard and Poor's since the creation of this agency in 1941.They remain in the other two major agencies, Moody's Dean (since 1917) and Fitch Ratings. The U.S. government has accused S & P based its decision on serious errors in calculations. "An appraisal contains an error of 2.000 billion dollars speaks for itself," he told a press spokesman for the Treasury Department. U.S. media said the government had severely challenged the projections of analysts of the agency after reviewing the findings of S & P. In vain.
The pitch was not easy to be taken to a U.S. agency."They have downgraded a bunch of European countries, and Europeans were bent on rating agencies: why you lower your bill and not the U.S.?" Fell on the Bloomberg TV channel economist Nouriel Roubini, who became famous for his dark predictions.
The loss of this seal of excellence is expected brutal impact on the financial markets, difficult to imagine right now. The U.S. Treasury is an undisputed reference: a standard cost of money, usually an instrument of "collateral" (guarantee) in a variety of transactions, and a refuge for investors in troubled times. "Uncertainty about the impact on the market is high," said recently the investment bank Goldman Sachs, exploring the potential consequences.The lowering of this note should indeed force investors to reassess risk widespread.
Standard and Poor's warned in April that it was considering lowering, given the persistently high budget deficit and rising public debt. The unfolding conflict of budget debates in the coming months, which culminated Tuesday in extremis on raising the legal limit of public debt, had only compare this perspective. John Chambers, President of the Evaluation Committee of S & P, said Friday on CNN that Washington could have prevented the lowering of the notes within the ceiling earlier. He said the responsibilities were shared by the Administration and Obama, but also to "the previous administration."
The first political reaction in Washington have shown just block pointed to by S & P.Mitt Romney, candidate for the Republican primary, has called the downgrade of American "latest victim of the failure of Obama's economic" and the Republican chairman of the House of Representatives as "a consequence of control spending in Washington in recent decades. " The Senate Democratic leader, Harry Reid, has instead called for "a balanced approach to deficit reduction," with spending cuts but also increases targeted taxes, it rejected the Republicans, under pressure ultra-conservative "tea party", in the recent discussions on the dates.
The S & P announcement came as the markets had closed for the weekend, but initial reactions are mixed from Asia.The Japan, the second holder of U.S. debt world, assured that his confidence in the U.S. Treasury and its strategy of purchasing these bonds were unchanged. France "with complete confidence in the strength of the U.S. economy," said Saturday told AFP the Minister of Economy Baroin. But China, by far the largest creditor of the world the United States, found that it was "now all rights to require the United States they are addressing their structural problem of debt."
The United States had their public finances sealed by the harsh recession that crossed their economy from late 2007 to mid-2009. Since then, economic growth has returned, but they are not able to restore the health of their public finances.According to estimates by the International Monetary Fund, they should acknowledge this year, with about 9% of GDP, the highest budget deficit of the G20 countries, except Japan. It is sixteen countries rated "AAA" by Standard and Poor's, four of the G7: Germany, Canada, France and Great Britain.
