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.
Former European Commissioner Mario Monti was the favorite Thursday to succeed Silvio Berlusconi as head of the Italian government and try to counter the surge in borrowing costs in the country, another who briefly relieved the European stock exchanges.
The Economist, 68, former European Commissioner and now president of Bocconi University in Milan, is seen for weeks by the markets as the best candidate to lead a government of national unity and implementation of emergency austerity measures needed to redress the accounts of the country.The Paris Bourse was almost in equilibrium, Frankfurt advanced 0.5% and London gave up 0.45%.
Discussions in the PDL
Italian President Giorgio Napolitano has appointed Mario Monti senator for life Wednesday. Investors saw this as a sign that he would ask him to try to form a government from the start of Silvio Berlusconi, expected in the coming days.
And as the cost of borrowing to ten years in Italy continue to grow beyond 7%, a level deemed unsustainable by many, the assumption of a unity government seems to be gaining ground in the PDL.
"The LDP can not simply follow the call to the polls that emanates from the core," said Foreign Minister Franco Frattini in an interview with Corriere della Sera.
Wall Street opened up Friday, contrary to what foreshadowed the future, which indicated a first down and then open with little variation.
Some thought that profit-taking would arise from the opening given the gains accumulated in four sessions. If the opening movement continues, the S & P 500 is on track louse save his best week since early July.
For now, he earns 0.5% to 1215.33. The Dow Jones ahead by 0.5% to 11,488.73. The Nasdaq Composite Index is 0.3% to 2615.08.
Fellows prepare for the publication of the index of consumer confidence published by the University of Michigan. It is intended to 56.5 against 55.7 in August.
Boeing gained 1% to 64.98 dollars.Air France-KLM announced plan to order 110 aircraft divided equally between Airbus and the American manufacturer.
Yahoo takes 1.5% to 15.11 dollars. According to the media, the private equity fund Silver Lake is considering an offer.
Global stock markets have tumbled again Monday, frightened by the event of bankruptcy of Greece. Paris dropped more than 4%, ending at its lowest level since April 2009. French banks have lost more than 10% of their value. The trading floor in Frankfurt
Global stock markets tumbled again Monday, maddened by the assumption of more and more openly discussed a bankruptcy of Greece despite the soothing statements from European officials.
"The events taking place in Europe affect a growing market with a flurry of distressing information," noted Patrick O'Hare, Financial Analysis Site Briefing. "The markets anticipate scenarios very dark and do not want to remember that the darkest assumptions," added Yves Marc, Global Equities."We remain in a market in flux guided by fear," added Franklin Pichard, Director Barclays stock.
All European stock markets ended the day deep in red, Paris, Milan and Madrid, ending even the lowest for two and a half years. Briefly falling over 5% in early afternoon in Paris because of particular concerns for French banks, under threat of a deterioration in their rating by the rating agency Moody's.
European shares, which had already been a Black Friday, continued to plunge. In closing, Paris was unscrewed from 4.03% to 3.89% Milan, Madrid from 3.41%. Frankfurt yielded 2.27% and 1.63% in London. In Asia, Tokyo ended down 2.31% and 4.21% of Hong Kong.
Wall Street resisted in the middle of the session: to 16:00, the Dow Jones that yielded 0.75%.But the trend remained fragile and could accelerate the losses from one moment to another, stressed brokers.
The hypothesis of a failure of Greece, or even leaving the euro area, continues to gain ground and influence markets. "European officials are trying to take a more firm vis-à-vis Greece, in front of a ras-le-bol growing against the bailouts in Europe and North against austerity in the south "in the region, said Michael Hewson, an analyst at CMC Markets.
This weekend, the German Minister of Economy Philipp Rösler has not ruled out a bankruptcy ordered Greece to save the single currency before the department will remember come Monday that Athens had its place in the euro .
The Commission President José Manuel Barroso and German Chancellor Angela Merkel in turn tried to restore calm by ensuring, in a joint statement after a meeting in Berlin, the EFSF, in its strengthened would be operational by the end of the month.
The European Financial Stability Fund created last year, bringing relief to struggling countries, must in particular be allowed to buy government bonds on the secondary market. Athens, which is desperately trying to reassure its creditors, has pledged Sunday to take additional steps to save $ 2 billion in 2011.
The European Commission has welcomed the announcements and said that the donor countries meeting in a Troika-European Commission, European Central Bank and International Monetary Fund-would return to the country "in the coming days." The atmosphere had deteriorated markedly since the unexpected departure of the country of a Troika mission in early September.
Bank stocks, especially in France, have been particularly turbulent Monday, weighed down by their exposure to sovereign debt and fears about their solvency. BNP Paribas has unscrewed from 12.35%, 10.64% of Crédit Agricole and Societe Generale of 10.75%.
"Whatever the scenario Greek and supplies to go, French banks have the means to cope," he tried to reassure the French Minister of Economy and Finance, Baroin, reiterating a message delivered in the morning by the governor of the Banque de France Christian Noyer.
"We are ready to provide liquidity to banks requested" to "unlimited" and "fixed" for the euro area, for his part reiterated the governor of the European Central Bank (ECB) Jean-Claude Trichet, in his as a spokesman for the group of major central banks.
The week promises to be crucial. Wednesday, an emergency meeting of the IMF to be held on Greece and the finance ministers of the euro area and European Union will meet Friday and Saturday in Poland to try to complete the second level of support Greece nearly 160 billion euros, promised the country July 21.
However, the markets seem to doubt the capacity of policy to agree and thus to regain control the crisis, especially after the G7 meeting on Friday and Saturday, which has resulted in "no action" according to an analyst.
Finance ministers and central bank governors of the seven richest countries in the world (G7) have simply promised Friday to Marseille to respond "strong" and "coordinated" to the crisis but without specifying their strategy.
Considered a value at risk in this context, the euro was heavily abused: Monday he touched its lowest level since mid-February against the dollar and 10 years against the yen.
On the debt market, the rates of German and U.S. bonds, safe havens, were at their historic low.Conversely, interest rates have soared Monday in a securities issuance of public debt in Italy.
Air France-KLM announced Wednesday an increase in passenger traffic of 7.6% in August, together with a load factor up 1.2 point to 85.7%.
The second European airline in terms of sales said in a statement it had carried 6.8 million passengers last month, with revenue per available seat kilometer (RASK) excluding currency "slightly down" from August 2010.
Traffic recorded an increase of 10.7% in the Americas network and 9.0% on the Asia network, for load factors in respective increases of 1.3 points to 89.6% and 1.4 points to 89.4%.
The Caribbean and Indian Ocean network recorded a traffic increase of 10.0% with capacity up 7.1%, while Africa and the Middle East are still affected by political crises and have a stable traffic ( -0.1%) on capacity down 0.5%.
In freight, cargo traffic is also almost stable (-0.2%) with capacity up 2.8%, bringing a decline of 1.9 points in load factor to 62.5% while unit revenue per tonne kilometer (RATK) excluding currency is "up slightly".
Action Air France-KLM on Tuesday completed a course of 5.993 euros, showing a dip of 56% since the beginning of the year.
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.)
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.
Release said this morning that the CNT had reserved 35% of the black gold to France in exchange for his support for the rebellion. A soldier in the camp of Colonel Muammar Gaddafi near the oil refinery in Ras Lanouf, March 12, 2011.
The representative in Paris of the National Transition Council, the governing body of the rebellion Jamahiriya, denied Thursday that the CNT has signed with France a document promising him 35% of Libyan oil, in a statement to AFP.
Hours before the start of a summit dedicated to the democratic reconstruction of Libya in Paris, the French daily Liberation published a letter dated April 3, headed the "Popular Front for the Liberation of Libya" and addressed to the Emir of Qatar in which the CNT said it has signed an "agreement to give 35% of total crude oil in exchange for French support to our total and permanent
I've never heard of this front, "responded Mansour Sayf al-Nasr, special envoy of the CNT in Paris." All documents, all treaties are signed valid CNT ", he argued, rejecting any other document as invalid. The governing body of the Libyan rebels are known, since late February that as the National Transition Council.The only reference to a "Liberation Front" on the Internet refers to the letter of April 3, published by Liberation on Thursday and runs for weeks on the web.
Asked on RTL radio on Thursday, the French foreign minister Alain Juppe said "not aware of such a letter." "The CNT has said very formally in the reconstruction, he addressed preferentially to those who supported him, which seems quite logical and fair," he said, repeating does not have "knowledge of formal agreement. " "We are not alone. The Italians, the Americans are there," he said.
From London, the representative of al-CNT Guma Gamaty assured that future contracts on the exploitation of Libyan oil shall be granted "based on merit, not patronage."Libya, the fourth largest producer in Africa (after Nigeria, Angola and Algeria), exported before the insurrection against the regime of Muammar Gaddafi 80% of its black gold to Europe, especially Italy and France.
Libya has the largest oil reserves in Africa, with 44 billion barrels, far ahead of Nigeria (37.2 billion barrels) and Algeria (12.2 billion). These large companies are Italy's Eni, French giant Total and the Anglo-American BP, Shell and ExxonMobil. The country has also almost doubled its exports of natural gas in recent years, 5.4 billion m3 per year in 2005 to over 10 billion m3 of this year, according to OPEC, through a new pipeline to the Italy. Its reserves are estimated at 1,540 billion m3.In early August, the CNT was committed to honor, "he will govern as a temporary", "all financial contracts and petroleum agreements under Gaddafi."
The owners of the Federal Reserve, International Monetary Fund (IMF) and the OECD have increased over the weekend the pressure on political leaders on both sides of the Atlantic, urging them to get out of their torpor to meet the economic challenges.
Meeting in Jackson Hole, Wyoming, the cream of the world economy seems to fear that the slowdown in growth and worsening debt crisis from escalating into a much deeper threat if nothing is done.
By Friday, the Fed chief Ben Bernanke has set the tone, insisting that most of the work to establish a solid foundation supporting growth in the long term was within the White House and Congress.
IMF Executive Director Christine Lagarde warned the next day against the risk of the global economy plunging into recession and called on leaders to "act now", especially for a European bank recapitalization.
"I hope they listen," responded the governor of the Bank of Israel Stanley Fischer.
For Angel Gurria, Secretary General of the Organization for Economic Cooperation and Development (OECD), "Governance is not a very rosy at the moment (…), either in Europe or the U.S. ".
"That's the feeling that emerges from the discussions in the short term, 'We can not even come to an agreement on the time it is, even when there is a huge clock that tells us", has he told Reuters.
DO NOT UNDERMINE GROWTH
United States, the political stalemate has inhibited the proposals to control the country's massive deficit, which led to the edge of default and earned him the loss of its coveted triple-A rating to eyes of the Standard & Poor's.
In Europe, the euro area remains divided on the question of who will pay the debt crisis, exemplified by the divisive debate on the euro bonds or collateral requested by Finland in exchange for his assistance Greece.
Christine Lagarde, whose intervention in Jackson Hole was added at the last minute and reflected his sense of urgency, warned against the too rapid reduction in deficits, which could undermine growth faltering.
She is not alone.
Since the outbreak of the financial crisis, the Fed cut interest rates to near zero and bought 2,300 billion of bonds to support the recovery.Monetary policy has exhausted much of his ammunition, everything depends now on fiscal policy, suggested in Bernanke substance.
"Although the issue of fiscal sustainability needs to be addressed urgently, the heads of budgetary issues should take into account the fragility of the current economic recovery," he argued.
"Warning shot"
According to Glenn Hubbard, dean of Columbia Business School, Bernanke's speech is "a wake-up call for government to say: 'Stop to submit to the Federal Reserve, you have a job to do" .
"The Fed simply said: 'We are monitoring the situation closely but we encourage the government, both parties to get around a table and adopt a plan to strengthen long term fiscal and then maybe a plan stimulus in the short term, "he told the Reuters micro Insider.
These calls from the elite of the world economy could offer unexpected support Barack Obama while his campaign for a second term may begin as ominous a stagnant unemployment rate beyond 9%.
The U.S. president prepares a speech after the Labor Day scheduled Sept. 5, in which he is expected to present proposals to boost employment.
Barack Obama also turned to the tenors of the world economy.
The tenant of the White House and German Chancellor Angela Merkel met Saturday by telephone from the crisis in the euro area and the turmoil in financial markets, vowing to take measures to revive the global economy.
The day before, Barack Obama spoke with Christine Lagarde and the two agreed that the economy needed short-term measures to support new growth.
European side, the question of the soundness of the banking sector returns insistently.
Christine Lagarde and the President of the European Central Bank Jean-Claude Trichet have both stressed the strengthening of bank balance sheets, the executive director of the IMF even calling to make a "substantial recapitalization."
"While policy dialogue is clear, the uncertainty generated by political posturing in Europe and the United States creates serious risks", says Eswar Prasad, a professor at Cornell University.
The giant U.S. food Kraft Foods announced Thursday it plans to split into two separate companies, while posting better than expected results and raising its forecast for 2011.
Eighteen months after buying the British chocolate maker Cadbury controversial, Kraft plans to split its North American grocery through a split tax-free by the end of 2012.
Kraft now considers that its activities and snacks division North American grocery now have strategic priorities, patterns of growth and operating objectives that differ.
Investors can therefore choose between the strong growth prospects of the market for snacks in emerging economies, or build on the security offered by the grocery business.
The draft terms of division received two support weight, those investors Pelte Nelson and Warren Buffet, the latter being the largest shareholder of Kraft.
The group issued a profit along better than expected at 62 cents per share, a Thomson Reuters consensus I / B / E / S to 58 cents a share, with net sales up 13.3% to 13.9 billion.
The group raised its forecast for annual EPS at least $ 2.25 and organic growth of its turnover to at least 5%.He was formerly an annual EPS of at least $ 2.20 and organic growth of at least 4%.
All these ads allowed under Kraft jump of almost 3% at the New York Stock Exchange in the morning.
