Financial News Headlines

OpinionWay poll for Le Figaro and LCI, 57% of French people say they are against an increase in VAT. Other measures announced by Nicolas Sarkozy are they rather welcome. The standard VAT rate will increase on 1 October from 19.6% to 21.2% to compensate for 13 billion euros of lower employer contributions, announced Sunday, January 29 Nicolas Sarkozy a majority of French (57%) are against an increase in VAT in return for lower social security contributions, but approves other measures announced Sunday night by President Nicolas Sarkozy, according to a survey OpinionWay-Fiducial for Le Figaro and LCI released Tuesday soir.28% of respondents are "totally opposed" to "lower burdens on wages and, in turn, the increase in VAT by 1.6" and 29% are "somewhat opposed" .42% in however, support this measure (15% "quite" 27% "fairly positive"). 1% is silent pas.La proposal of the Head of State VAT increase is accompanied by a decrease in payroll taxes. The requirement for companies with more than 250 employees have at least 5% of young people in training is approved at 90%, creating a tax on financial transactions to 77%. 65% approve of "the possibility for social partners to negotiate agreements within each enterprise to define, for example working time of employees," 53% "higher than 30% of construction rights on any ground." For Moreover, Nicolas Sarkozy is preferred to Francois Hollande for "lead France" (39% against 32%, 28% said "neither"), "reduce the debt of France" (35% against 27%, "no of the two "37%)," reform France "(34% against 30%," neither "to 35%)," to get France out of the crisis "(31% against 26%," neither "42%). The socialist candidate prevails over the incumbent president when it comes to" bring the French "(38% against 18%" neither "to 43%). Study conducted on 30 and 31 January with a sample of 1097 people representative of the French population aged 18 and older, interviewed online and constituted under the quota method.

In most cases, fast cash loans are credited to the borrower's account within 24 hours. Sometimes the time taken may be even less, depending on the amount of loan as well as the company which processes your application.

Faurecia announced Monday new medium-term financial goals with a turnover of 20 billion euros in 2015, growth should be driven by the dynamism of Asia and the demand for technologies to reduce greenhouse gas emissions.

The automotive world leader in exhaust systems owned 57.4% by the manufacturer PSA Peugeot Citroen, said the new goal was a 25% growth on sales estimated in 2011.

In late October, said the group had anticipated for the current year revenues from 15.7 to 15.9 billion euros.

"Faurecia is now (to) outperform three to four points growth in global automotive production," he said in a statement.

In his previous plan unveiled in June 2010, the equipment was a turnover of 16 billion euros in 2014 and an operating margin of 5-6% at the same horizon.

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 start falling, ending for the most up four sessions in a row, in the wake of Wall Street, in markets nervous before the employment figures in the United States.

The publication of an ISM manufacturing index for August better than expected, but still its lowest level in two years, has awakened the fears of investors about the risk of recession across the Atlantic.

At 9:40, the CAC 40 was down 1.64% to 3212.24 points after returning 5.8% in one go since Monday.

Other major European markets also declines sharply: London and Frankfurt lost 1.6%, which was already losing ground yesterday, leaves 2%.Of the European indices, the EuroStoxx 50 yields 1.78% and the Eurofirst 300 was down 1.41%.

"There is not a measure of uncertainty before the employment figures to be published in the day, while the fact that U.S. markets are preparing for a long weekend encourages traders to reduce their short positions term, "said Camron Peacock, an analyst at IG Markets.

The financial and cyclical values ​​are among the most affected.The sector index banks in Europe lost 2.13% and 2% of the insurers, with a decline of 3.6% Credit Agricole, 3.2% for PSA and 3% for ArcelorMittal.

MAINSTREAM SELLER

Deutsche Bank was down over 3% while, according to The New York Times, the federal agency that oversees the mortgage market in the United States will file a complaint against more than a dozen major banks, the German bank.

From a graphical point of view, Alexander the Drogoff Aurel BGC, sees the EuroStoxx 50 fell to 2.100/2.077 points.

"Our technical reading of the index remains in favor of the bulls failed to significantly prolong the rally and then a return to mainstream vendor," he writes.

The euro is trading at 1.4211 / 12 dollar against 1.4257 the previous day in the afternoon, while U.S. crude yields 51 cents to 88.42 dollars a barrel.

The performance of German government bonds to 10 years down to about 2.09% against 2.16% on Thursday.

Oil prices have closed on a fall of almost 6.5% Monday in New York, the black gold with world stock markets suffered as the decision of Standard & Poor's to lower the credit rating of the United States.

On the New York Mercantile Exchange (Nymex), the September contract on the U.S. crude (WTI) ended on a loss of 5.57 dollars, or 6.41% to 81.31 dollars a barrel.Meanwhile, Brent yielded 5.19%, or 5.68 dollars to 103.69 dollars.

Brent, which displays and a decline of more than 10 dollars since the beginning of August, fell below its moving average of 200 days.

"The consequences of the deterioration of the U.S. S & P, also degrades the world oil market," said Phil Flynn, analyst at PFGBest Research.

The S & P's decision has exacerbated investor concerns about the state of demand for crude in the United States, world's largest consumer of oil.

China urged the United States Saturday to face the problem of debt and questioned the status of reserve currency the U.S. dollar.

In a commentary severe your little diplomacy, the official Xinhua news agency expresses the feeling of Beijing after the degradation of AA + sovereign rating of the U.S. Standard & Poor's.

"China, the first creditor of the world's only superpower, is now in its right to require the United States they face the problem of debt and ensure the structural safety of Chinese assets in dollars," Xinhua said.

"There is a need for international monitoring on the issue of the U.S. dollar and a new reserve currency, stable and secure, can also be an option to avoid a disaster to be caused by a single country," said Xinhua.

China suggests that Washington reduce its military and social expenditure.

"The U.S. government must resign himself to a painful state of affairs: the good old days when all he had to borrow to get out of trouble he had himself created is over," writes the news agency.

Direct impact on China's reserves

Chinese economists believe that the deterioration of the American note is a significant risk to financial markets and expect that China, which holds more than 1,000 billion of U.S. debt, accelerate the diversification of its assets.

"It will be chaos on international financial markets at least in the short term. The most direct impact for China of its reservations. The dollar value of investments in China will fall," said Li Jie, director of institute at the Central University of Finance and Economics.

"China will have to consider other investments. The U.S. Treasury is no longer safe.There are the markets for riskier types of assets that (bonds) AAA, but less risky than AA +. China did not think of before but will have to do it, "he adds.

Ding Yifan for, deputy director of a think tank associated with the Chinese State Council, the United States will have to ease monetary policy further, which could go through a third operation 'quantitative easing', consisting for the Reserve Federal to buy treasury bills.

"If the U.S. launches a truly EQ3, it will undoubtedly add to the uncertainty in the global economy and drive up commodity prices," he said.

The German chancellor is sure that there will be an agreement Thursday for a new aid package to Greece. The cnacelière Merkel

German Chancellor Angela Merkel was "very confident" in "good results" at the top of the euro area on Thursday and expects to find in advance a common position Wednesday with French President Nicolas Sarkozy, said his spokesman. "France and Germany (…) must agree. If this does not happen we can not make progress in Europe. On both sides, we are confident that a common position can be released tonight "said the spokesman, Steffen Seibert, during a press conference. "The Chancellor will visit Brussels tomorrow.We are very confident to see it found a good solution that makes a difference, "he added.

Countries in the euro area are in a race against time to find an agreement to help Greece and contain the debt crisis, a decisive meeting with Sarkozy-Merkel later in the day Wednesday in Berlin , in advance of a summit of leaders of the euro zone on Thursday. Wednesday's meeting will be "a working session," said Mr. Seibert, who, as recent days, refused to detail the German positions on the modalities of a new aid to Greece on the brink of bankruptcy. One thing is certain, Berlin is always to involve private creditors of Greece in the assembly.

This remains "a critical requirement" and "highly important" for Germany, said Seibert."And we're not the only ones with this position," added the spokesman of the Ministry of Finance, Martin Kotthaus. The Netherlands or Finland support Germany in this voie.Toutefois neither Mr. nor Mr. Seibert Kotthaus have repeated the need to involve "substantial" private sector, one of the requirements laid down in originally from Berlin. "We expect the private sector," simply stated M. Kotthaus, and this so that "we will be satisfied." The involvement of banks, insurers and fund holders of debt securities Greek is a strong requirement of German MPs, who posed as a condition for approval of new aid in Athens.

These days even in the ranks of the coalition government to end the desire dominates, the need to radically and the growing irritation of the face of procrastination Merkel.Wednesday the head of the state government of Hesse, Volker Bouffier, from the ranks of the conservative party CDU Chancellor, called for "clear decisions," and called for a default part of Greece.

A plan for raising the ceiling of U.S. debt and to avoid a default of immediate payment of the United States could still result in a rating downgrade of the United States within a year or so, said Tuesday Moody's.

The "plan B" Senator Mitch McConnell, considered more as a "plan A" in Washington, seeks to prevent a lowering of immediate note of the United States, said Moody's analyst, Steeven Hess Reuters Dabner an interview.

"But the figures being discussed in terms of a possible deficit emerging from this plan does not seem very important," said Steven Hess."As a result, this plan could lead to a negative outlook on the note."

The United States are rated triple A by all three major agencies, the maximum score.

Citigroup reported Friday an increase of nearly 24% of its net profit in the second quarter to 3.34 billion dollars (2.36 billion euros) against 2.7 billion a year earlier.

The third U.S. bank by assets shows a profit of $ 1.09 per share against $ 0.90 a year earlier, while economists surveyed by Thomson Reuters I / B / E / S were expecting $ 0.96 .

At 14:50 GMT, took 0.79 million to 39.33 dollars, outperforming a Dow Jones almost stable.

This is the sixth consecutive quarterly profit for Citigroup, which benefited from the injection of 45 billion dollars in federal aid to lift themselves out of U.S. financial crisis.

These results were published after those of JPMorgan Chase & Co, also emerged better than expected.

Since the U.S. government in December sold its last share in the bank, its chief executive Vikram Pandit has attempted to show that he intended to turn the page and it was possible to resume growth.

THE FAILURE IN BFI

In detail, we perceive a decline in revenue in two of the three businesses of Citigroup, commercial banking and investment banking.In retail banking, however, earnings were up.

"The decline in net losses on credit, it's a huge best," said Timothy Griskey Solaris Group.

Citigroup said that its net banking income in the second quarter fell by nearly 7% over the previous year, standing at $ 20.6 billion, which is beyond the consensus of 19.89 billion.

"They control many of their problems, but they are not yet out of the woods," said Matt McCormick, portfolio manager at Bahl & Gaynor Investment Counsel.

The recovery has been difficult this year for most U.S. banks, because of poor returns on the forehead of trading on the bond market and a volatile market that has weighed heavily on results.

"Like everyone else, we seek to determine what will be a 'normal activity' for the coming quarters," said general manager John Gerspach group during a conference call.

Cash in the BFI decreased by 8% over the same quarter last year, affected in particular by a plunge of 18% of trading activity bond fell to 3.033 billion.

This decline was partially offset by a sharp increase in commissions on stock and advice on mergers and acquisitions, up from 61% to 1.085 billion.

News Corp. plans to buy $ 5 billion of shares over the next twelve months, the media group der Rupert Murdoch seeks to calm the turmoil caused by the case News of The World.

News Corp. is the parent of the Fox network and the Wall Street Journal, as well as a series of British newspapers.

Rupert Murdoch has decided to close its Sunday tabloid News of the World, accused of embezzling thousands of voice mail in recent years.

This case comes at the worst time for News Corp. which is engaged in an attempted takeover of BSkyB, an operation estimated at around ten billion euros, which requires final approval from the government.

The share repurchase program announced Tuesday will replace another program, $ 1.8 billion.