Financial News Headlines

The German group E. ON community service expects to eliminate nearly 11,000 jobs, or about 14% of its workforce, to reduce its costs after the Berlin decision to phase out nuclear by 2022.

This figure is at the top of the range between 9000-11000 items discussed by the group last August, when the announcement of a restructuring of its operations.

"In the present state of our preliminary assessments, the number of jobs to be eliminated will be in the top of the announced range from 9,000 to 11,000," said the world number one industry by turnover.

The German group had 79,457 employees at the end of September.

"Order intake for the third quarter of 2011 remained strong in an uncertain economic environment."

TF1, a subsidiary of Bouygues to 43%, but was lowered Thursday its forecast revenue for 2011 after the sharp deterioration in advertising revenue of its flagship channel in the third quarter, amid difficult market conditions.

"It's a bit early to talk about 2012, we are not advanced enough in the end of the year," he said during a teleconference Philippe Marien, Chief Financial Officer of Bouygues.

Wall Street opened little changed on Thursday, the concern surrounding the European crisis of debt weighing on a market already made nervous by the earnings season.

Fifteen minutes after opening, the Dow Jones gained 0.2% (25 points) at 11,527 points.The Standard & Poor's, largest, took 0.2% (2.5 points) to 1212 points while the Nasdaq composite fell by 0.1% (2 points) to 2601 points.

Information from the German newspaper Die Welt, the German government that does not exclude the possibility of postponing the second time the EU summit scheduled on Sunday, has cooled investor sentiment, eager for Europe to find a plan to end the crisis.

In the process, senior sources directly involved in the preparation of the summit said they were unaware of such a project report.

Reports that the European Financial Stability (EFSF) may redeem the bonds on the secondary market under certain conditions are not sufficient to fully reassure the market.

Investors also monitor closely the earnings season that stand out far subdued. Microsoft will release its results include after-hours trading.

Yahoo gained 2.3% after asking that applicants interested in a takeover bid does not communicate with each other, while the group is probably too big to swallow for a single company, with the possible exception of Microsoft, whose title was down 0.5%.

EBay is losing more than 4% after yet announced a quarterly revenue up 32% and net profit in line with expectations of financial analysts.

The weekly jobless claims fell slightly last week in the United States at 403,000 against 409,000 the previous week and 400,000 expected.

The Spaniard David Ferrer, seeded No. 3, qualified Saturday for the final of the Shanghai Masters 1000 at the expense of his compatriot Feliciano Lopez, a score of 6-7 (5) 6-3 6-3 .

Ferrer is a first Masters title in 1000, after his failures in the final in Rome in 2010 and in Monte Carlo this year against another of his countrymen, Rafael Nadal, world number one then.

For the title, it will face the winner of Sunday's second semi-final between Britain's Andy Murray, the fourth world and winner of the tournament in Bangkok and Tokyo over the past two weeks, the Japanese Kei Nishikori, who reached for the first time this stage of the competition in an event of this category.

Veolia Environnement has recently sold Eolfi Asset Management, his investment company specializing in the management of funds investing in solar and wind power, reported Monday the newspaper La Tribune.

Eolfi AM was purchased by its president and founder Alain Delsupexhe, which confirmed the operation but refused for now to communicate about the subject, the paper said.

Without specifying the amount of the transaction, a spokesman for Veolia told The Tribune qu'Eolfi, a subsidiary of Services Group had sold property investment company, which manages 113 million euros of assets, seeking Eolfi focus on its core business, the development of wind and solar projects.

No one was immediately available for comment at Veolia.

The French trade deficit will break all records this year to 75 billion euros. The increase in the energy bill is not the only cause. Lack of competitiveness, weak SME export … The handicaps of France are numerous. View of the Port of Marseille

75 billion euros: this amount should be – unusually high – the French deficit this year. The calculation is not hard to do. During the first half, the difference between our imports and exports amounted to 37.5 billion. So just multiply by two.

Usually, this kind of calculation is dangerous: economics, trends can vary greatly from one semester to the next. However, the deficit seems to have found a new anchor monthly, around 6 billion euros, experts note.Over the last twelve months, the French trade deficit reached a staggering 67.21 billion euros, a record.

To explain this collapse, some are bound to mention the cost of the oil bill. However, the reality is different, say economists Assya financial company. The root cause of our deficit is the lack of competitiveness. Our industry specialization is too focused on capital goods (22% of our exports, against 50% across the Rhine).This area is yet one who benefits most from the recovery phase.

Domestic production does not meet the needs of the French

Other handicaps: our largest trading partner remains the euro area, which has the lowest global growth for ten years, the costs of production, regulatory and tax burdens encourage French companies to produce abroad, while imports French are too strong, particularly because there are too many products that are no longer manufactured in the Hexagon. In other words, domestic production meets less consumption needs of the French.

Not throw away the cup is full. Well, not quite: France also has a problem with SMEs.While large French companies such as Airbus, Alstom or Areva, signed major contracts abroad, which shows that the French technology is extremely competitive, SMEs, they have difficulty, confirms Bertrand Macabeo, Managing Director of Kompass International. Yet they represent 90% of French companies and 80% of employees!

In this area, the comparison with Germany hurts. Our neighbor has 300,000 exporting companies, representing three times the French strike force, estimated at 90 000 companies! Another figure hard to take: France, has approximately 30 000 exporters "accidental", that is to say companies that for one reason or another, fail to make sustainable export strategy. These problems go well beyond the surge in energy costs.And they are expensive: weighed down by the external deficit, growth is likely to become slightly negative in the third quarter.

European shares rebounded Tuesday morning after diving the two previous meetings, pending the opening of Wall Street following the long weekend of Labor Day.

Investors also await the publication in the afternoon of the ISM services in the United States.

Around 10:00, the CAC 40 index contains 0.9% to 3027 points, after seeing fluctuated in both directions and tested, as before, the threshold of 3000 points. The benchmark index of the Paris stock exchange has dropped over 8% in two sessions.

"There was an overreaction, perhaps related to the closure of Wall Street.Today, there is a small spring effect, but the session will begin only with the opening of New York and the ISM, "said David Thebault, head of quantitative trading at Global Equities.

Other major European markets will also describe: London is 0.84% ​​and 0.58% Frankfurt. Of the European indices, the EuroStoxx 50 wins 0.7% and 0.7% Eurofirst 300.

Fears of a deepening crisis of debt in the euro area and its impact on the banking system, however, continue to weigh, especially financial stocks.

The Stoxx banks index remains at its lowest in 2009, around 130 points.In Paris, Crédit Agricole lost 1.7% and still Natixis 1.5%.

Gold is sought and is trading at 1873 dollars, after hitting a new record in 1920 dollars and the performance of the German government bond (Bund) 10 years back a little to 1.86%.

The euro recovers against the U.S. dollar, treating around 1.42 dollars.

Greek debt is out of control and the measures taken by the government can not restore the finances, says a committee of independent experts in a report released Wednesday.

"The sharp rise in debt, the high primary deficit (…) exacerbated in the extreme dynamics of the debt, which has spun out of control," say the auditors of the Greek Parliament, appointed by the Ministry finance.

"It is clear that the problem in this country is not only the volume of public debt, but also the inability to consolidate the current fiscal management. Despite the massive fiscal adjustment effort, no primary surplus was clear and, on the contrary, the primary deficit has widened. "

The fear mongering by Christine Lagarde on the urgent need for recapitalization of banks in Europe are not convinced. Neither the EU nor the analysts or investors. Christine Lagarde is in the race to succeed DSK to head the IMF.

The European Union Monday defended the strength of European banks after the words of the IMF chief Christine Lagarde has called for their "urgent recapitalization" in order to restore market confidence and facilitate access to liquidity. Fearmongering that have not really worried the markets.In Paris, for example, the title Natixis gained 3.72% while Societe Generale and Credit Agricole have completed on increases of 3.61% and 3.37%.

"European banks are better capitalized than a year ago," said the Commissioner of Economic Affairs Olli Rehn, during a hearing before the European Parliament, referring to the results of stress tests published in the European banking sector during the summer. The results of these tests conducted in Europe over 90 banks were made public last July. Institutions that have failed to make decisions to recapitalize within six to nine months, through mergers or asset sales in particular, he said. If this does not work, solutions that require public sector intervention to bail them out would then be considered.

Returning to the turbulence of recent weeks, Mr.Rehn, however, admitted that European banks have faced difficulties recently to finance itself. "We hope that their financing conditions will improve. The banks also have access to liquidity set aside by central banks," he added.

Executive Director of the IMF said "urgent" Saturday to recapitalize European banks so that they are "strong enough to face the risks of public debt and weak growth." "It is essential to stop the contagion," she said, considering that "the most efficient would be a substantial recapitalization required" with private funds and public funds "if necessary".

Asked earlier on the subject, the spokesman for Mr.Rehn, Amadeu Altafaj, stated to see no need to go beyond what is already expected to strengthen bank capital, or make "something extra". "The discussions between the IMF and the EU have already taken place. The IMF knows the results and developments to come," he said.

For their part, several large French banks did not hide their surprise after remarks that do not differentiate between European institutions. "French banks are among the strongest in Europe," we fell on condition of anonymity in one of them, referring to the good report of resistance testing.

French Banking Federation (FBF) declined to comment, referring to a statement of 19 August in which it stressed that the capital levels of French banks were "well above regulatory requirements."The CEO of Crédit Agricole SA Jean-Paul Chifflet on Thursday had dismissed any need for capital increase. He also reassured liquidity: its annual plan is "completed at about 90%," with available reserves of over 120 billion.

Lack of precision?

The words of the boss of the IMF were also found to be inaccurate by some analysts. For Pierre Flabbée, an analyst at Kepler CM, "it seems that the idea of ​​Christine Lagarde whether to restore the normal functioning of the interbank market and banks' access to liquidity, the recapitalization is a necessary step.""Bring the capital would be used to restore market confidence," he noted, saying that the banks involved and the amounts necessary "should be clarified" by Ms. Lagarde.

A second analyst, regretted, on condition of anonymity, the "wrong" timing and lack of detail by Christine Lagarde, while the sector is slowly recovering from false rumors that have recently plunged. Especially that "there is no problem of liquidity in the euro area, and if there was one, the ECB is ready to intervene," he noted.

Several institutions have also noticed that they have strengthened their capital base in preparation for the coming into force from 2013 rules so-called "Basel III" in the G20 countries.According to these regulations, banks must hold capital "hard" accounting for 7% of the loans they give to their clients, against 2% currently.

"I do not think the risk is specific to European banks," said Jean Peyrelevade, chairman of Banca Leonardo France and former head of Credit Lyonnais, Business on BFM. As the problem of indebtedness of the States "is not resolved, there is doubt about the strength of the euro area itself and therefore the banks of the euro zone."

Wall Street finished the Monday session in a very small increase after four weeks of losses, closing a session with no real trend in a very fragile economic environment.

The New York Stock Exchange finished up 0.34% Monday, the Dow Jones Industrial 30 win 37 points to 10,854.65 points.

The S & P-500, wider took 0.29 point or 0.03% to 1123.82 points.The index has lost 12.7% since early August.

The Nasdaq Composite was up on its side of 3.54 points (0.15%) to 2345.38 points.

About 8.46 billion shares were exchanged during the session, is almost as much as the daily average last year to 8.47 billion.

After four weeks in a row in the red, Wall Street has had a turbulent session, alternating folds and rebounds.

The shares have been particularly cheap buyouts, some stakeholders holding that the market had become oversold and the market turned upward late in the session in a climate of extreme volatility as fears of another recession in the United States and those of a destabilization of the European financial system remain.

In this context, investors will watch carefully for signs of possible new measures to support the Federal Reserve the U.S. economy, when its central bankers will meet Friday in Jackson Hole, Wyoming.

Values, the title took Lowe's Companies 1.139% after announcing it would spend five billion dollars to buy back shares over a period of two to three years.

Boeing took the title also 1.45%. Leaders of Delta Air Lines (0.13%) should vote this week an order for 100 Boeing 737 planes worth 8.58 billion dollars (six billion euros), Bloomberg announced News, citing two sources familiar with the matter.(See)

Technology stocks like IBM (0.91%), Google (1.48%) or Hewlett-Packard (3.6%), are among the best performances of the day while financial still losing ground . The title of Bank of America fell 7.89%.