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Itching of Warren Buffett

"Our elephant gun is reloaded, and I relax that itches." At 80, the multi-billionaire Warren Buffett, good shot of global finance if any, is more than ever ready to draw in search good investments. His company, Berkshire Hathaway, an empire of eighty subsidiaries, diversified energy, clothing, jewelry, business aviation and stakes in big companies like Coca-Cola, just to garner 12 , $ 97 billion profit, up 61%, "he wrote in his annual letter to shareholders.

The hunter investment should reap even more cash by the end of the year to make new purchases. At the height of the financial crisis, Warren Buffett purchased preferred shares of GE and Goldman Sachs, for small sums respectively 3 billion and 5 billion dollars.In exchange, the two companies paid dividends to their savior by 10%. GE and Goldman have planned to buy back its investment in the coming months, which bodes well for the thirsty acquisitions inflow of new money counted in billions of dollars. Businessman offers its shareholders to be "healthy" and does not intend to retire. Better, he exhorts his countrymen to be optimistic.

The latest U.S. macroeconomic indicators are disappointing? "Tomorrow is always uncertain," relativized the old veteran. Encourages risk-taking, but with common sense. The 2008 crisis showed, he recalls, the risks of investing with borrowed money. Practice "addictive," he complains. In good family man, Warren Buffett still retains its investment fund for a small envelope of cash in unforeseen circumstances or good opportunities.End of 2010, this reserve of cartridges weighing 38 billion. What relieve itching Warren shooter.

The A330 military took over four countries

The Airbus tanker derived from the long-haul A330 aircraft, will enter service later this year in Australia. Canberra has ordered five copies of this multi-role military aircraft, both tanker and cargo, should receive its first aircraft in spring. "In general, the commissioning follows eight to ten months later," says one Airbus. The European aircraft manufacturer delivers a complete unit which will then be militarized by the client, by the Royal Australian Air Force, for example with cons-measures to protect the aircraft. In Australia, a partner in Airbus, Qantas Air Service, which will implement the rigid pole, called boom refueling.

The A330s will begin in Australia military career already well underway. The European aircraft, also known as KC-45, has won all the latest tenders in the world.He was chosen by the British Royal Air Force who ordered 14 via a leasing agreement unprecedented in military matters, the Saudi army with five units and the army of the United Arab Emirates (UAE) up to three tankers. In total, Airbus has garnered 28 orders from four customers for a value not provided. As a guide, the list price of the A330 is 170 civilian million.

Apparatus assembled in Toulouse

The European supply has received its airworthiness certificate civil March 17, 2010 by the European authorities (EASA). His military certificate was issued by the National Institute of Technology Spanish competent authority in this case as Airbus Military, which is responsible for military programs Airbus is based in Spain. The product however is assembled in Toulouse, France on the same production line as the A330 civilian.

Airbus shows significant ambitions for its KC-45. In his own studies, the potential market is around 250 aircraft in the world outside the United States. France, for its part, could be ordered 15 copies.

Trading on supplementary pensions hardens

This fifth meeting lasted two hours and a half, and its agenda was presented to a future meeting. Venus discuss the benefits and marital family – widow's pension and bonuses granted to employees who have three children – the trade unions have shifted the debate on the issue of resources.

This Thursday, the social partners had initiated the meeting in a studious atmosphere, but negotiations have progressively strained. The CGT had called on workers to organize rallies – which have remained small scale with a few hundred people – all over France. "Having called the employees involved did have some effect on the negotiations", said to reporters Eric Aubin, leader of the CGT delegation."We had a pretty firm intervention of trade unions on the fundamental question of resources," he said.

Lower yields

Long surplus, private pensions of employees (Arcco) and senior (Agirc) suffered from the crisis and must draw on their reserves to stay in balance. Contrary to the general scheme, they can not actually be losing money. Their rate of return decreases over time and the unions have approached these negotiations with every intention of claiming the stabilizing additional resources."The rate of return over the past 17 years has declined from 25% to Arrco and 30% Agirc, which has the effect an immediate impact of a magnitude roughly equal in terms of replacement rate" , that is to say the percentage of the pension paid from the last salary, says negotiator CGT.

But if everyone agrees on the need to stabilize the rate of return, the remedy proposals diverge. Some unions do not exclude a small increase in contributions from employees. The CFTC proposes 0.4% over two years on the employee and employer contributions. An event which does not hear the employers' organization claiming a brake on competitiveness. Jean-François Pilliard, Medef like to share that the age for obtaining an additional full rate should be extended by 65 to 67 to match the general pension scheme.It also refers to a "greater coherence" between the two regimes and Arcco Agirc. An idea which is wary of the union CFE-CGC executives who do not want a merger. The employers also encourages the control of management costs which he estimated at 1.8 billion euros per year.

Socviaux partners must meet again on March 9. At the sixth meeting, the MEDEF submit for the first time, written proposals. The supplementary pension schemes Agirc-related Arrco 17.5 million private sector employees, including 3.7 million senior and retired 11.2 million, including 2.5 million former executives.They pay every year 63 billion euros in benefits, which account for two thirds of the Executive Pension.

(With AFP)

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SNCF: CGT offered the pub at the expense of CCE

The CGT has released all the stops to win the elections on March 24 at the station. The railway union has commissioned an advertising campaign of 1939 panels in France, mainly near the passenger terminals and marshalling yards. This campaign highlights the strategy that management has reduced the supply of "wagon" of the SNCF deficit for many years to refocus on more profitable routes.

Our records indicate that buying, with a gross value of 1.5 million euros, 300,000 euros has been negotiated by the union. These posters are a lot of noise in the railroad world, but not the one expected by the majority union. They have not actually been purchased by the CGT, but by the central committee (IAC) of the SNCF, which is supposed to finance the social works of the railway."Even though legally there is no diversion of funds, the transaction appears to be with the purpose of the EAC and includes, within its operating budget," says a senior counsel to several committees company in France.

"Awareness Campaign"

The other unions, who denounced the campaign of communication, could therefore sue for appropriation of funds from the CEC for political purposes. "It's scandalous, a union official insists. The CGT has punctured some form of additional salary and deferred railway to lead his own campaign. "

Many unionists tell when he discovered that poster appeared in the streets of Paris, February 14. It is however mentioned in the advertisement that "this campaign" was conducted "on the initiative of the CEC and CE SNCF Fret SNCF.""This is false, the works council was not consulted Freight, says Gilles Desfrançois, elected in FO-setting committee of the freight station fast payday loans. It looks like an ad campaign for the CGT. The color coding of displays, including the conspicuous presence of red, tends to confirm this. "The majority unions, the CFDT, UNSA and SUD, which sit alongside the CGT at the office of CCE, are hampered in the armholes. The CFDT said to have "validated this with reservations." "Nobody dared to oppose a campaign on the future of freight a month before the elections, says a union official. Furthermore, when we do not follow the majority union on some of its decisions, there are penalties. "

Complaint for "defamation"

Contacted by Le Figaro, no CGT or the direction of CEC were willing to comment on the situation.Even silence on the direction of the station, where you do not wish to incur the wrath of the majority union. The company is not entitled to complain about the allocation of subsidy, however, assigned the CEC referred to "smear" and damage his image before the Tribunal de Grande Instance de Paris. The case will be heard Friday morning.

This latest incident just adding to the list of questionable practices of the CEC of the SNCF. The Court of Auditors is conducting an inquiry into the management of this institution and on 6 of its 27 school committees (EC). The CTE of the key station each year a grant of 92 million euros and employs nearly 1000 employees.

CE Lyon is, meanwhile, the subject of an investigation by the financial police. Several executives of the institution were interviewed at year end.The origin of these investigations: the funds allocated by the public company under the Trade Union Training allegedly used to finance the operation of trade unions.

The French nuclear industry met Monday at the Elysee

It is not on any official agenda, but a meeting to organize the French nuclear industry will go ahead on Monday at the Elysee. The Minister of Industry, Eric Besson, has indeed confirmed this morning on France 2 reports in the press, announcing today that Nicolas Sarkozy would chair the Council of nuclear policy, which he founded in 2008. "The only thing I can tell you is (this meeting) concerns the organization of the French nuclear industry, what has been called France's nuclear team," said Eric Besson on France 2.

According to La Tribune, a preparatory meeting was already held last Friday, bringing together around one table Lauvergeon, CEO of Areva, Henri Proglio, head of EDF, Gerard Mestrallet, head of GDF Suez Patrick Kron, CEO of Alstom, and Eric Besson Dipuo Elizabeth Peters, Minister of Energy of South Africa.The President of South Africa, Jacob Zuma will indeed soon be visiting Paris to talk about nuclear. The challenge for France is to develop a coherent strategy to deal foreign clients especially not to not repeat the failure of Abu Dhabi in December 2009 when the French had lost a huge contract for nuclear centarles, at least 20 billion deal to Koreans.

The TTY in focus

On Monday, participants should discuss in particular the strategic partnership between EDF and Areva. The decision to bring the two French energy giants was taken at the last council of nuclear policy in late July 2010.According to unidentified sources quoted by La Tribune, the two companies involved do not share the same vision of the progress of the project: Areva, it says that "the agreement is ready in its broad lines" then for EDF, "there are still points of disagreement."

According to Les Echos, the discussion should revolve around one central question: "whether the combination of EDF reactor project at medium power, TDD, developed by Areva and its partner Mitsubishi Heavy Industries. Capacity reaches 1100 megawatts Atmea, against 1600 for the EPR.EDF could decide to take part in the cooperation on the TDD, or work on its own medium-power reactor with its Chinese partner CGNPC, or both at once.

Both companies should also discuss their mining strategy, including a possible investment from EDF in the mining division of Areva, whose valuation problem. As for GDF Suez, which wants to grow in importance in the French nuclear industry, the group should also focus on getting its game in the middle of negotiations.

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Blocked overnight in a train

The stage at Brussels was not to last as long. Friday night, two Thalys from Amsterdam to Paris and were forced to spend the night at the stop at Brussels Midi station, registering a total delay of about 14 hours on their arrival in Paris on Saturday morning.

The origin of this disruption, a technical default on the first train left at 6:16 p.m. Friday in Amsterdam. To remedy this, the train is coupled to a second train has left the Venice of the North one hour later.The operation takes a long time, so much so that the arrival of two trains in Brussels to 23 hours, it is too late to pursue the road: "The network of high speed rail network in France (RFF) was already closed at night for maintenance, "said a spokesman for Thalys, Patricia Baars.

"We tried everything, but it was not possible to make the trains run outside the operating hours of commercial network," French said the representative of the rail consortium.

Not enough room at the hotel

And the trouble does not stop there. As it is too late to implement an alternative system of transportation by bus, according to Patricia Baars, passengers are forced to spend the night there.But again, a new obstacle: "It was not possible to find hotels in the immediate vicinity of the Brussels-Midi station to house some 400 people," says Patricia Baars.

Some passengers decide to leave to go and look for a hotel in downtown Brussels, at their expense personal loan for poor credit. The approximately 250 remaining up for the night. "They received a meal and hot drinks. The train was heated, and watched the train, "said Patricia Baars figaro.fr.

Not really a version shared by Marta Ayala, 38, transient. Station in Brussels, "everyone left the train. Workers, drivers, everyone is gone. Without telling us anything, "she testified. "The passengers left the train to get information. There was nobody on the docks. Thalys offices were closed, "she added, pointing to photos taken in the night.

"Around 0:15, the security personnel were brought boxes of food. Still no explanation. Then at 6:30 this morning, we were told to change trains, "she adds angrily. "I paid 200 euros, just the casual, the service terrible."

Thalys says that all passengers will be reimbursed for their tickets, and any other compensation – for nights hotels, missed connections – will be considered on a case by case basis.

Both trains were eventually depart at 6:40 Saturday morning, arriving with a delay of 14 hours for the first Thalys 6:16 p.m. and 1:00 p.m. respectively. This is roughly equivalent to that recorded by the drill nuitStrasbourg Port Bou / Nice, who had accumulated a series of incidents during the night of December 26 to 27.

Spain, Europe future of Las Vegas

In Spain, gambling is a tradition as evidenced by the annual success of El Gordo, the lottery with a jackpot of 2.3 billion euros last year, alleging December 22. On average, 80% of Spaniards are involved, for the delight of the public company Loterías y Apuestas del Estado, attached to the Ministry of Economy and Finance. Last year, ticket sales it had reported 2.7 billion euros.

Smelling a good deal, American Sheldon Adelson has chosen Spain for its construction project to the largest European games of chance. His company, Las Vegas Sands, which operates the largest hotel and casino in Las Vegas, is currently in discussions with the cities of Madrid and Barcelona. "I want to do a mini-Las Vegas in Europe. I hope we can use the name of Europe Vegas', 'Euro-Vegas' or something like that, "he said.I want to build more than 20,000 rooms and millions of square feet of commercial space, exhibitions and congresses. "

Billions and jobs

Sure of the success of his project, Las Vegas Sands is ready to let go, budget level: this mega complex could receive a total investment of between 10 and 15 billion euros, according to Sheldon Adelson himself. "We are preparing that very actively. I'm assemble a team of professionals in architecture, design, property development etc.. In two weeks, I will meet three major groups of buildings, "he added.

To convince the Spanish authorities, the CEO of Las Vegas Sands has promised some huge economic benefits for this country through one of its most difficult economic crisis easy payday loans. Thus, nearly 180,000 jobs could be created."No private company has never invested much money in Spain," says Sheldon Adelson with pride.

Internationalizing gambling

If this project were to materialize, it clearly confirms the strategy of internationalization of Las Vegas Sands. The company has been trying for several years to leave the market saturated already Vegas where she reigns supreme with the Venetian and Palazzo complex became the largest hotel in the world with approximately 7050 rooms, casinos, restaurants and a shopping mall.

Las Vegas Sands already generates 70% of its turnover in Asia and opened last June at Singapore Marina Bay Sands, a hotel of 2,600 rooms with a casino and a museum. Again, the group has a hand in the portfolio: the construction cost him about $ 5.5 billion which should be recouped within 5 years.

At 77 years, the multibillion Sheldon Adelson, the richest man of Sin City, the means of its ambitions. While its competitors such as MGM, saw their incomes decline in the fourth quarter of 2010, his company Las Vegas Sands sees his jump of 57% to $ 2.02 billion. Over the full year 2010, the group posted a turnover of 6.85 billion, up from 50.2% to a net profit of 775 million. The performance of Las Vegas Sands are welcomed by the rating agencies including Moody's, which believes that "this positive trend will continue."

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Bank stocks support the CAC40

ACC 40poursuit its momentum, driven by corporate earnings considered in good order. At the close, the index in Paris gained 1% to 4151,26,14 points in trade volume expanded (4.59 billion euros treaties). Elsewhere in Europe, optimism was also practiced. The Footsie-100 from the London Stock Exchange ended on a rise of 0.80% to 6085.27 points and the Dax in Frankfurt Stock Exchange has eaten 0.19% to 7414.30 points.

On the macroeconomic front, the news was mostly American with the publication of figures on many indicators for the month of January. Rather mixed, but they can not reverse the upward trend observed since the opening.In January, housing starts in the U.S. rebounded more than expected, 14.6%, while building permits fell more than expected, 10.4%.

Higher-than-expected also for producer prices in January, they (seasonally adjusted) advanced 0.8% over the month, against 0.7% expected by analysts.

Finally, industrial production fell 0.1% in January, penalized by the return of harsher winter temperatures. An unexpected drop in the consensus building on a 0.5%.This is the first decline since June 2009.

On the foreign exchange market, the euro gained ground Wednesday against the dollar bending under the weight of disappointing U.S. figures published yesterday, but the single currency remains under pressure as concerns about the fiscal health of the fragile zone Euro persistent.Vers 18:00 to Paris, the euro bought 1.3581 dollars against 1.3488 dollars on Tuesday at 23:00.

Societe Generale its dividend multiplied by seven

On the podium of the largest increases in the CAC 40, are banking stocks, buoyed by the good results of Societe Generale. It wins 4.86%, to 51.24 euros. Credit Agricole took 4.76%, to 12.21 euros and Natixis jumped from 3.56% to 4.16 dollars. Sanofi-Aventis follows (3.51% at 51.55 euros), supported by the announcement last night of an agreement with U.S. biotech Genzyme.

In contrast, PPR, which reports tomorrow, shows the largest decrease (-2.07% to 113.40 euros) in its wake LVMH (-0.97% to 116.90 euros).

Societe Generale: + 4.86% to 51.24 euros

Meanwhile, good news comes from the results published by companies, including Societe Generale. After publishing the results in line with market expectations, the banking group has increased its dividend in September by Societe Generale in its wake Credit Agricole (4.76% to 12.21 euros), BNP Paribas (+2, 93% to 58.97 euros) which must publish its results tomorrow, Thursday before the opening of the Bouurse.

Banks also benefit from a buoyant economic environment and the easing of tensions on sovereign debt, while the Eurozone is currently developing measures to help the troubled country.

Sanofi-Aventis: + 3.51% at 51.55 euros

Another announcement that should be reacted in financial markets, even if she was waiting for: the acquisition by Sanofi-Aventis U.S. biotech Genzyme. The two groups have reached an agreement in principle after the French laboratory which will provide $ 20.1 billion plus a certificate of conditional value.

Renault: 0.34% to 45.82 euros, Peugeot: -0.65% to 29.83 euros

For the EU, new car registrations fell 1.4% in January to 1,041,650 vehicles, announced Wednesday the Association of European Automobile Manufacturers (ACEA).Renault sales fell by 5.2% and Peugeot, 3.4%.

A new salvo of results

Atos Origin: + 0.02% to 41.36 euros

Atos Origin has more than tripled its net profit in 2010 to 116 million euros, indicating that they had "achieved its objectives."The group is confident for 2011.

Imerys: -0.23% to 51.52 euros

Imerys will rely on the growth of demand in its markets, particularly in emerging countries and in the paper and steel, to take over the restocking that has supported its findings in 2010, told Reuters its general manager.

Euler Hermes: -2.67% to 73.00 euros

Euler Hermes announced Tuesday a strong rebound in its annual results, driven by a drop in claims, and the resumption of a dividend to its shareholders.

ADP + 0.85% to 65.06 euros

ADP reported a January traffic up 5.5% from 2010.

Bic: -2,16,06% to 62.93 euros

The group of stationery and disposable Bic has made a net profit up 36.7% to 207.5 million euros in 2010, thanks to gains in market share and reported a very good start 2011.

Orpea: + 0.25% to 34.68 euros

Orpea reported Wednesday in a double-digit growth of its business in 2010, supported by organic growth of 8.7% and its external development. Group homes was confident for 2011.

After market, it was the turn of Bricorama (turnover in the fourth quarter) and Icade (results in the fourth quarter) to submit their figures. Is also awaited the outcome of the meeting of the Monetary Policy Committee of the U.S. central bank, held tonight at 20:30.

Obama tackles the budget deficit

President Barack Obama on Monday presented to Congress his budget proposal for 2012, which aims to reduce the federal deficit of 1.100 billion dollars (about 800 billion euros) over 10 years, but the Republicans deem the decline spending too limited.

The White House expects a budget of 3.729 billion dollars with a deficit of 1.645 billion for fiscal 2011, began in early October and 1.101 billion for fiscal 2012. This trend would reduce the deficit to 3.2% of gross domestic product (GDP) in 2015, against 10.9% this year.

"The fiscal realities we face require tough choices," said Barack Obama elected to the Congress. "Ten years of deficits, compounded by the effects of the recession and the measures we have taken to get out, (…) we have placed on a trajectory untenable.That is why my budget charts a course that will repay our debts. "

Two thirds of the savings provided by the budget come from reduced spending and lower predictability of debt service as the deficit will be eliminated.

Deletion of twelve tax loopholes

The rest came from increased revenues, including the expiration of the tax compromise negotiated in December with the Republicans, who control the House of Representatives. This text extends for two years, tax relief inherited the presidency of George W. Bush and also extends benefits for long-term unemployed.

Federal finances should also benefit from increased revenues due to economic recovery, as well as the elimination of 12 tax loopholes for companies specializing in oil, gas and coal, which is the aim of providing 46 billion dollars over 10 years.

"Both parties are seeking to reduce deficits, this indicates at least they share the view that one can be elected without being harsh on the budget," said David Ader, an analyst with CRT Capital Group.

The draft budget must allow Barack Obama to keep his commitment to its partners in the G20 to halve the deficit by the end of his term in January 2013, compared to taking office in 2009.To contribute to this reduction, Bush plans to freeze discretionary spending unsafe for five years, a savings of $ 400 billion over 10 years business cards design.

This measure involves reducing spending by more than 200 federal programs and will save 33 billion dollars over fiscal 2012. Defense spending will be reduced by 78 billion over five years, as previously announced, and those health 62 billion over 10 years.

The project anticipates a deficit of around 3% of GDP from 2015 and beyond, slowing growth in U.S. debt, even if it should rise to 77% of GDP in 2021 against 72% in 2011.

The budget will be adopted only after a long debate ahead among Democrats, the Senate majority, and Republicans, who control the House of Representatives."The president's remarks suggest that he understood that spending out of control, but his words are followed by any action," the group's leader accused the Senate Republicans, Mitch McConnell. "Americans do not want a spending freeze to an unsustainable level. They want cuts, drastic cuts, and I hope the President will work with us to achieve this quickly. "

The White House is more conservative than IMF

The White House also said to have revised down its forecast for U.S. GDP growth for 2011, but maintained its forecast of accelerating activity for 2012. Under the new draft budget law, the U.S. GDP would grow by 2.7% in 2011 and 3.6% in 2012.The previous forecast of state gave a GDP up 3.2% in 2011 and 3.6% in 2012.

The government is more cautious than the central bank (Fed) and the International Monetary Fund (IMF) for 2011. The Fed chairman, Ben Bernanke said that growth should be between 3.0 and 4.0% in 2011. The IMF expects him over 3.0% this year.

The government is however much more optimistic than the IMF for 2012, since the Fund said in January that U.S. growth should slow in 2012 according to him, to 2.7%.

The government says the unemployment rate, down, should nonetheless remain very high at 9.3% on average in 2011, then declined to 8.6% in 2012.

(With agencies)

Switzerland has frozen the assets of the Mubarak family

Deprived of power in Egypt, Hosni Mubarak could soon be as his property. Barely half an hour after the announcement of the resignation of the Pharaoh, or at 17:30 on Friday, the Swiss government announced it was blocking all funds that may belong to the Egyptian president and his family in Switzerland. The Federal Council has issued an order to that effect asking the Swiss banks to search for and freeze the assets of the clan Mubarak. According to the Swiss National Bank in late 2009, the Egyptian deposits on accounts in Switzerland reached 3.6 billion Swiss francs (2.27 billion euros).

"President Hosni Mubarak has resigned today after weeks of mass protests. The Federal Council took note of this evolving situation, "it said in the text.The assets of Mubarak and his entourage were blocked with "immediate effect" and the order is "valid for three years," says the Federal Council. "In addition, the sale and disposal of assets – including property – belonging to such persons are prohibited. The Federal Council intends to take all necessary measures to prevent any possible misuse of public funds. "

Between 40 and 70 billion

According to experts cited in the Middle East by the British newspaper Guardian, the Mubarak family fortune is estimated at between 40 and 70 billion dollars (29 need a personal loan with bad credit.5 and 51.7 billion euros). It would be divided as such: $ 15 billion for Hosni Mubarak, one billion to his wife Suzanne, eight billion for his eldest son, Alaa, and 17 billion for his second son, Gamal. By comparison, the couple's Ben Ali is estimated at five billion dollars, as ranked by Forbes magazine.And that of the richest man in the United States, Bill Gates, to 54 billion.

The Algerian newspaper Al Khabarprécise his side much of the wealth of Mubarak would be deposited in banks or invested in real estate. The Mubarak family would own and outside of Egypt, properties in the United States, Great Britain (whose son and mother hold the nationality), France, Switzerland, Germany, Spain and Dubai . Finally, two son, Gamal and Alaa created and taken stakes in many companies in Europe and the United States.

(With agencies)

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