Despite the strains imposed by Greece on the euro area, Italy was able to borrow Monday medium and long term 5.25 billion euros expected without any increase in interest rates. Italian Prime Minister Mario Monti presented in Rome on 4 December 2011 a new austerity plan of 20 billion euros by 2014
Italy has a bond issue passed Monday by taking test 5.25 billion euros in the medium and long term interest rates steady at almost three years, despite strong investor concerns for the euro area due to blockage policy in Greece.
The total demand of investors amounted to 9 billion euros, allowing the Treasury, which were up between 3.5 and 5.25 billion euros, reaching its maximum target, announced the Bank of Italy . As part of its main issue, the Italian Treasury has raised 3.5 billion of securities maturing in 2015 at a rate of 3.91% against 3.89% in the last similar operation on April 12. He also issued 542 million of securities due 2020 at a rate of 5.33%, 651 million of securities due 2022 at a rate of 5.66% and € 557 million of securities due 2025 at a rate of 5.90%.
The Bank of Italy does not compare the rates of these bonds with those recorded during previous shows. "The show went well overall," said Elia Lattuga, bond strategist in the bank UniCredit. "The maximum was reached," a "particularly good result" that the market was marked "by difficulties this morning," added Chiara Manenti Intesa Sanpaolo.
The political stalemate in Greece, which still has no government more than a week after the parliamentary elections, has plunged European stock markets Monday and caused a fever in the bond market.
Despite the success of this program by Rome, the Italian market also remained very tense. Secondary market, where exchange debt already issued, the rates in Italy were part of ten years at 5.724% to 5.495% cons 10:25 GMT Friday night while the Milan Stock Exchange 2.90% let go.
Friday, Italy, which faced since mid-April to a sharp rebound in rates after a strong expansion in the first quarter, recorded a great success on the debt market by placing 10 billion shares to three months and one year at declining rates.
U.S. courts ruled inadmissible two complaints against the rating agencies Standard & Poor's and Moody's, accused of misleading investors about the safety of financial assets on derivatives debt markets.
Judge Shira Scheindlin in Manhattan federal However limited the scope of these two complaints, finding that the offenses of incitement to fraud, negligence and breach of fiduciary duty were not founded ; es.
Stay the proceedings for deformation of agency activities relating to investment products in question, known as Cheyne and Rhinebridge.
The plaintiffs, including the Commercial Bank of Abu Dhabi, blame Moody's Investors Service and Standard & Poor's losses related to bankruptcy Product Cheyne in August 2007. Investment product Rhinebridge him collapsed a year later, in August 2008.
In both cases, the plaintiffs accused the rating agencies to have worked with banks for financial products that have a triple A, the highest credit supposed to guarantee a free investment risk, whereas these derivative investments were backed in part on credit "subprime" high risk.
The Fitch is also concerned by the complaint Rhinebridge.
The decision of Judge Scheindlin was taken Friday but was released on Monday.
Tony Mirenda, a spokesman for Moody's, said the complaints were unfounded, and that still recent allegations would be considered inadmissible in turn.
Standard & Poor's, John Piecuch, spokesman, said similarly that the latest complaints were inconsistent with previous court decisions.
Royal Bank of Scotland has said Friday on the road to recovery after an operating profit better than expected first quarter and a sharp reduction of its balance sheet.
The CEO Stephen Hester also confirmed that the bank would have ended next week to repay emergency loans granted by London during the financial crisis.
It also will resume payment of dividends and coupons attached to hybrid securities.
RBS posted a first quarter operating profit of 1.2 billion pounds (1.46 billion euros), after a loss of 144 million the previous quarter. The consensus gave a profit of 800 million.
London has an 82% interest in the bank bailout since the surgery in 2008 and has "no desire" to sell given the situation of stock markets, reported the group.
"As far as I know, there is no desire to sell at current prices and I think it is quite understandable," said Stephen Hester at a conference tee ; léphonique. "Even if everyone wants it to be done, to my knowledge there is nothing in sight."
Sources had said in March that the government had held talks with Abu Dhabi, which had fueled speculation of a sale.
"MISTAKES OF THE PAST"
The rise of the bank in the green is due in particular to the investment bank, which posted an operating profit of 824 million pounds during the quarter against a loss of 109 million the previous three months.
"We are pleased with progress made in the first quarter, although the economic and regulatory environment remains tough," said Stephen Hester. "RBS continues to significantly grow in strength and resistance."
Hester added that the bank was progressing very well in the correction of "errors" of the past, with a decrease in non-strategic assets and increased liquidity.
She said her "Funded balance sheet", defined as total assets less the balance sheet derivatives, was further reduced by 27 billion pounds to 950 billion. Of this total, the non-strategic assets decreased from 11 to 83 billion pounds.
"Once again, the good news is the progress speed of adjustment of the balance sheet. It's all about cleaning up the balance (…)", said Ian Graham, an analyst at Investec. "For me, progress is obviously there but the road is long and painful."
Around 9:25 GMT, RBS shares gained 2.4% to 25.14 pence in morning, outperforming the European sector index of banks, up 0.22%.
Francois Hollande wants to suspend the enforcement Nome establishing the conditions for resale by EDF of part of its electricity to its competitors, because it increases speculation in the market for electricity, announced Thursday for Energy with the Socialist candidate for president.
Francois Brottes believes that the Competition Authority "issued an indictment against the policy of opening the French electricity market" in favor of the review of a decree implementing this law.
The system "will strengthen the speculative nature of the electricity market in France and will further increase prices, since it will impact the electric bill of consumers to the tune of '200 to 500 million Euros per year, according to the Authority, "he says in a statement.
"A few days before an election critical to the future of France, it is urgent to suspend enforcement of the law Nome. Let the French can choose between two conceptions of e Energy: speculative, or public good, "he adds.
New organization of the French electricity market (Nome) allows alternative suppliers to buy electricity from EDF Nuclear, within an overall limit of 25% of the production capacity. Since 1 January, the resale price is set at 42 euros a megawatt hour.
U.S. President again pleaded for taxation at 30% of annual revenues in excess of one million dollars. Rival in the White House, Republican Mitt Romney, is directly targeted: his fortune is estimated at between 190 and 250 million. U.S. President Barack Obama arrives at a rally in Florida on April 10
Barack Obama pleaded Tuesday for the "rule Buffett," a rebalancing of tax scales to charge more for the richest Americans, a way to embarrass the multimillionaire Mitt Romney, his likely opponent in the presidential election. "What hinders our entire economy is the growing gap between the super rich and everyone else," said the American president during a speech in Florida (Southeast), a crucial state on the electoral map for the presidential Nov. 6 where he is seeking a second four-year term.
"I ask you: what is the best way to strengthen our economy? Provide $ 150,000 in additional tax relief to every millionaire and billionaire? Or invest in education, research, health and our veterans? "said Obama at a university in the city of Boca Raton, facing an enthusiastic crowd, which chanted" four more years! " The president has defended the September 2011 "Buffett rule", the taxation at least 30% of annual revenues in excess of one million dollars. The chairman stressed that it is unfair that the multibillionaire Warren Buffett, are among the world's wealthiest people, is subject to a tax rate lower than his secretary employed, due to a tax code that taxes less capital income than labor. Warren Buffett himself has said he supported this measure.
The Senate, dominated by allies of Mr. Obama should make Monday a procedural vote on this device. But Republican opponents of the president have said their hostility and can block it. Obama's insistence on the "rule Buffett" seems primarily intended to put on the defensive opponent Mitt Romney, became even more conservative favorite of the primary on Tuesday with the abandonment of its main competitor Rick Santorum. The president did not mention the name of Mitt Romney, merely ironic about the presidential candidates "that should not be appointed" and that according to him are lawyers from both deficit reduction and a reduction in taxes for the rich.
Mitt Romney only pays 15% tax
Mitt Romney, a former investor whose fortune is estimated at between 190 and 250 million dollars, be admitted subject to a tax rate of 15% despite annual revenues of over $ 20 million in 2010 and 2011. It thus benefits in particular, as many wealthy Americans, niche tax changes introduced in 2001 and 2003 under the aegis of former Republican President George W. Bush. The White House says that Americans appearing in 0.1% of the highest incomes pay taxes now represent 26% of their income, against 51% in 1960, while members of the middle class have seen in the same time their tax rate from 14 to 16%.
The discount on the carpet of the "rule Buffett" comes as Americans must report their income before April 17 and may be more receptive to such a speech. The Republican camp has fired back Tuesday stressing that what they called "Buffett tax" would raise no less than 50 billion dollars in ten years, while the federal government debt exceeds 15,600 billion . And communications director for Mitt Romney, Gail Gitcho, said that "President Obama is the first president in history to openly campaign for reelection on a platform of raising taxes." Former President Bush himself on Tuesday defended the tax cuts of 2001 and 2003, during a speech in New York. "If we increase taxes, we take money from the pockets of consumers," he said in a rare foray into politics since leaving the White House in January 2009.
The United States believes that European governments have not stopped the illegal subsidies to Airbus and will accordingly implement the first stage of the procedure before the Sanctions 'World Trade Organization (WTO), said Friday the U.S. Trade Representative Ron Kirk.
This initiative can in theory lead to penalties amounting to billions of dollars imposed on EU products.
"We refuse to remain inactive while companies and American workers are disadvantaged," said Ron Kirk in a statement.
The text clarifies the intent of the United States to ask the WTO to say whether the EU has complied with a previous decision of the organization de ; favorable state aid to Airbus.
Wall Street has stalled Wednesday, impeded in its progress begun several months ago by declining sectors associated with macroeconomic risks, such as finance and energy.
The Dow Jones Industrial 30 yielded 0.35%, or 45.57 points, to 13,124.62. The S & P-500, wider, lost 2.63 points, or 0.19%, to 1402.89. The Nasdaq Composite Index advanced 1.17, however, points (+0.04%) to 3,075.32.
The S & P 500 benchmark index fund managers, however, retains a gain of approximately 12% since the beginning of the year.
"We reached a plateau, but basically, the deal has not changed (…) There could be a setback but I see the stock market to grow to 1,430 or 1,450 items, "said Joe Benanti, CEO of Rosenblatt Securities, referring to the level of the S & P 500.
The former real estate sales declined in February against all expectations in the U.S. and inventories of unsold homes increased, according to data released Wednesday by the National Federation of Officers Real Estate (NAR).
This statistic interrupts a recent run of good macroeconomic indicators and a reminder that the housing market, considered key to a sustainable recovery in the U.S., is still not completely out of case.
Despite rising oil prices, the S & P energy grouping values fell 1.04%. That financial stocks lost 0.43% after rising on nine of the last 10 sessions.
"Some parts make me say that we are perhaps at the beginning of a correction of up to 4%: the relative poor performance of industrial and energy , the reversal of financial, "said Seth Setrakian, co-leader of the U.S. equities department at First New York Securities.
"Investors are waiting in general the beginning of a new quarter to regain some of their beads. This can happen earlier if everyone expects the same thing. "
In a note to clients, Goldman Sachs said, however, that the prospects for equity market returns, compared to bonds, are the best in a generation
. "Given the current valuations, we think it should say" goodbye for a long time "for obligations and start" buying long "on shares," said the middle .. The title
……. Oracle fell 2.29% to 29.41 dollars after posting its quarterly results yesterday, marked s in a drop in revenue from hardware sales.
The action Hewlett-Packard for its part, yielded 2.17% to 23.46 dollars after the software giant announced the merger of its divisions PCs and printers as part of a major reorganization designed to generate savings and boost growth.
The Nasdaq Composite Index, heavily weighted in technology, however, was brought up by 2.46% to 13.72 of the action after the developer Zynga online game announced ; redeem OMGPOP, the manufacturer of the game popular "Draw Something".
The Tokyo Stock Exchange closed up 0.92% Tuesday, Japanese markets have erased all losses posted in early trading before going into the green and Register a fence frankly positive.
The Nikkei gained 88.59 points to 9,722.52 and the Topix broader took 3.23 points (0.39%) to 838.48.
The bankruptcy of Elpida, the first Japanese manufacturer of memory weighed on the sector, Advantest yielding 1.5% and Shin-Etsu Chemical 1.2%.
But this failure did, in the opinion of stakeholders had limited impact on investor sentiment.
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.
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
