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	<title>All World &#187; finance</title>
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		<pubDate>Thu, 17 Nov 2011 03:20:09 +0000</pubDate>
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		<description><![CDATA[ Estoppel to potential buyers of SeaFrance. The Commercial Court of Paris on Monday gave the liquidation of the French company SeaFrance ferries in the Channel, but now the activity until January 28, 2012. The court found that the two takeover bids submitted by Louis Dreyfus Armateurs (LDA), associated with the Danish DFDS group, and [...]]]></description>
			<content:encoded><![CDATA[<p> Estoppel to potential buyers of SeaFrance. The Commercial Court of Paris on Monday gave the liquidation of the French company SeaFrance ferries in the Channel, but now the activity until January 28, 2012. The court found that the two takeover bids submitted by Louis Dreyfus Armateurs (LDA), associated with the Danish DFDS group, and the CFDT union in the enterprise, were not satisfactory as it stands. However, he left the door open for the submission of new offers before December 12. </p>
<p> SeaFrance employs 880 permanent employees and 200 CDD, according seasons. The plan proposed by the LDA-tandem DFDS provided for the protection of 460 FTE jobs, maintaining SeaFrance under the French flag, the recovery of three ships 5 million and an investment of 50 million for repairs to boats <a href="http://cash-advance-nofax.com">guaranteed approval cash loans</a><!-- . -->.The Scop defended by the CFDT plans to retain all CDI but he lacked the funds needed to boost activity. </p>
<p> Risk of &quot;social conflict&quot; and funding &quot;nonexistent&quot;
<p> In its ruling, the court held that the supply of Dreyfus, associated with the Danish DFDS ferries group, provided many job losses and that &quot;there are (VAIT) is a risk of serious social conflict.&quot; He also found the price offered for the recovery of ships too low and suggested that this recovery could pose competition concerns.</p>
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		<title>Cloud computing brings new giants</title>
		<link>http://oursaviorsalbany.org/cloud-computing-brings-new-giants/</link>
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		<pubDate>Tue, 25 Oct 2011 16:00:13 +0000</pubDate>
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		<description><![CDATA[ Everyone uses without necessarily knowing it, cloud computing, cloud computing, provided mostly by U.S. companies. Facebook, Hotmail (Microsoft) and Gmail (Google), the new Apple icloud are cloud services for the general public. The user accesses the service from anywhere in the world from a mobile or a PC, provided you have an Internet connection. [...]]]></description>
			<content:encoded><![CDATA[<p> Everyone uses without necessarily knowing it, cloud computing, cloud computing, provided mostly by U.S. companies. Facebook, Hotmail (Microsoft) and Gmail (Google), the new Apple icloud are cloud services for the general public. The user accesses the service from anywhere in the world from a mobile or a PC, provided you have an Internet connection. The information is provided on request. </p>
<p> The same goes for companies. With the crisis, they turn to cloud computing. Instead of investing in their own equipment, they buy at the request of their storage needs, software and calculations.The cloud is &quot;a fresh approach to IT services,&quot; says Nathaniel Martinez, analyst research firm IDC. </p>
<p> To make these services available all the time and safely, most of the groups IT and telecoms involved in this transformation. Amazon, Google, Microsoft, Rackspace, IBM and HP are some of those actors who provide services or equipment. </p>
<p> &quot;We&#39;re always interested in personal computers, smartphones and tablets. But we want to provide end to end solutions for businesses. The global market for information technology is 3000 billion per year and no company in the world carries 10% of this total, &quot;said Michael Dell, CEO of the eponymous company. </p>
<p> With more PC, Dell follows a strategy similar to that of IBM.The group is building data centers and specialized solutions, including one opened in France for the distribution sector. </p>
<p> No company shall, alone, all the elements of the chain terminals, telecommunications network, operating systems, applications, servers, storage equipment and security software. They come together and buy the skills they lack. </p>
<p> Monday, Oracle acquired RightNow, $ 1.43 billion to complete its offering in the cloud applications. In storage, a battle was between market Dell to HP to purchase 3Par, won by HP. Dell fell back on Compellent. In this area, IBM, HP and Dell that are facing specialists EMC, NetApp and Hitachi Data Systems <a href="http://payday-loans-nofax.com">no fax payday loans</a><!-- . -->. </p>
<p> VMware ally of Orange
<p> For its part, the U.S. has become a giant VMware. Its market capitalization reached $ 40 billion.Size gained through solutions that optimize business costs. Its software is used to reduce the number of servers to a client company and deploy multiple applications running on the same computer. &quot;Partner Orange to sell its solutions to French companies, the alliance is a competitor of that formed by SFR and HP,&quot; said the expert, IDC. His opponents are Citrix, IBM, Microsoft and Oracle. </p>
<p> In specific applications for cloud computing, Salesforce thrives on its software paperless which is a kind of Facebook for business teams. Its potential is considerable. Its market capitalization reached 17 billion dollars, almost ten times its revenues.It confronts, in this niche, Sugar CRM, Oracle, Microsoft and SAP. </p>
<p> Faced with the immense amount of data created and stored, ordering specialized publishers and analyze the flow of information. IBM, MicroStrategy and SAS Institute, for example, allow a better understanding of user profiles and to predict their behavior. Amazon, Facebook, Google and Microsoft can then better target their marketing campaigns. </p>
<p> &quot;The problem with cloud computing is not as data security, but the protection of privacy,&quot; said Vivek Kundra, the former CIO of the federal government of the United States Obama Administration. </p>
<p> However, the software security to the cloud adjust such Symantec, McAfee or Kaspersky. Finally, the major telecom equipment manufacturers such as Cisco and Huawei, want their share.In short, the entire landscape of information technology is transformed. </p>
<p> ALSO READ: </p>
<p> &quot;Oracle buys RightNow </p>
<p> &quot;Google in the race of cloud computing </p>
<p> &quot;Apple is embarking on cloud computing </p>
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		<title>Spinetta and Juniac at the head of Air France</title>
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		<pubDate>Mon, 17 Oct 2011 18:52:47 +0000</pubDate>
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		<description><![CDATA[ The war of positions that settled for months at the head of Air France KLM, in view of the succession of the CEO Pierre-Henri Gourgeon, should find its outcome brutal Monday. 
 Reportedly, the board will meet to start RECORDED Pierre-Henri Gourgeon. In office since 2009, the executive director of the group pays two [...]]]></description>
			<content:encoded><![CDATA[<p> The war of positions that settled for months at the head of Air France KLM, in view of the succession of the CEO Pierre-Henri Gourgeon, should find its outcome brutal Monday. </p>
<p> Reportedly, the board will meet to start RECORDED Pierre-Henri Gourgeon. In office since 2009, the executive director of the group pays two things. On the one hand, his conflict with the chairman of Air France-KLM, Jean-Cyril Spinetta, and on the other hand, the disappointing results of the company. &quot;He did not totally unworthy, but a change in governance was necessary at the time of uncertainty hovering over the company and the industry,&quot; says a close case. No comment was made Sunday at the headquarters. </p>
<p> Overhaul of the governance
<p> The departure of Pierre-Henri Gourgeon will be accompanied by an overhaul of governance.Jean-Cyril Spinetta back in service by chairing executive of Air France-KLM. The owner of the historic French airline, the architect of his marriage with his Dutch counterpart, never far away from its management. In addition, Juniac Alexander, former chief of staff Christine Lagarde, will be named him CEO of Air France. A key post in the new organization which eventually opens the way for the management of all Air France-KLM. </p>
<p> After months of controversy within the Board and the Company, the Nominating Committee consists of four directors (Jean-Francois Dehecq, Patricia Barbizet, Jean-Marc Espalioux and Cornelis van Lede) has finally agreed on the name &#39;Alexander Juniac, under the watchful eye of the state, which owns 15.7% of the group.Ironically, the former right hand man was the candidate pushed by Pierre-Henri Gourgeon, opposite Jean-Cyril Spinetta, who advocated an internal solution. Indeed, this lively debate which had laid bare the tensions between the two leaders of the company. </p>
<p> The new organization, which will be confirmed Monday, also intended to bring Air France-KLM in a position to face its difficulties. The latest quarterly (April to June 2011) revealed an operating loss of 147 million euros. Back into the red after one brief year of profits. Since then, the situation was still tense, so that the group launched in early September a new savings plan. No figures have been officially announced, but it evokes a range of 700 to 800 million euros.The specific measures should be adopted at the end of this month. </p>
<p> ALSO READ: </p>
<p> &quot;Air France flight testing a&quot; bio &quot;between Toulouse and Orly </p>
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		<title>Apple resists the action notwithstanding the death of Steve Jobs</title>
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		<pubDate>Thu, 06 Oct 2011 14:56:16 +0000</pubDate>
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		<description><![CDATA[ &#34;The news of my death are greatly exaggerated,&#34; joked Steve Jobs when Bloomberg had his obituary published in error in August 2008. Nevertheless: the stock market, Apple had lost the title on the day 2.42%. 
 Announced tonight the death of the charismatic leader will Apple does the same concerns in the markets? It [...]]]></description>
			<content:encoded><![CDATA[<p> &quot;The news of my death are greatly exaggerated,&quot; joked Steve Jobs when Bloomberg had his obituary published in error in August 2008. Nevertheless: the stock market, Apple had lost the title on the day 2.42%. </p>
<p> Announced tonight the death of the charismatic leader will Apple does the same concerns in the markets? It is no surprise to Apple&#39;s shareholders. The charismatic leader had prepared his departure, giving the reins of his company to Tim Cook. But his death marks indeed the end of an era for the firm at the apple. </p>
<p> Thursday morning, investors still seem uncertain: New York, the title is almost stable at the opening to 377 dollars (-0.33%). But in Frankfurt, where the action is also listed, the decline is more pronounced: just after 12 o&#39;clock, the title loses 2.75% to 272.51 euros after touching a low of 270.50 euros.</p>
<p> The title after the stand 4S iPhone
<p> Steve Jobs as a CEO was not like the others. Associated with the image of the company he co-founded, he was also in stock <a href="http://guaranted-unsecured-personal-loans.com">bad credit personal loan lenders</a><!-- . -->. Apple has become the first in the world market capitalization, elbow to elbow with Exxon Mobil. </p>
<p> As Steve Jobs made Apple, Steve Jobs&#39;s health was reflected in the title. Suffering from cancer since 2004, the group leader had to leave several times, until he left there just over a month, on August 25. Each announcement related to his health problems, the markets feared for the future of the group and the title suffered large fluctuations. </p>
<p> Two days ago, the title fell by 5% during the session along with the presentation of the 4S iPhone. The latest version of Apple&#39;s flagship phone, slightly different from the previous one, was disappointed the markets, hoping to iPhone 5.But the title was returned to the balance at the end of the session and finished on a moderate loss of 0.56% to 372.50 dollars. Sign that investors want to believe in the capacity of Tim Cook to keep the group at the top. </p>
<p></p>
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		<title>Optimism in the Paris Bourse</title>
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		<pubDate>Tue, 27 Sep 2011 12:04:10 +0000</pubDate>
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		<description><![CDATA[ Monday&#39;s rebound continues Tuesday in the Paris Bourse. The CAC 40 has started on a flying then accelerated pace. Mid-session, he climbed 3.55% to 2960 points. Elsewhere in Europe, the Frankfurt Stock Exchange is 3.36%, London and Milan 2.22% 2.79% while the pan-European Euro Stoxx 50 index 3.09% wins. 
 Since the beginning of [...]]]></description>
			<content:encoded><![CDATA[<p> Monday&#39;s rebound continues Tuesday in the Paris Bourse. The CAC 40 has started on a flying then accelerated pace. Mid-session, he climbed 3.55% to 2960 points. Elsewhere in Europe, the Frankfurt Stock Exchange is 3.36%, London and Milan 2.22% 2.79% while the pan-European Euro Stoxx 50 index 3.09% wins. </p>
<p> Since the beginning of the week, investors won over by a wave of optimism about the outcome of the debt crisis in the eurozone. The spokesperson of European Commissioner for Economic Affairs Olli Rehn Olli Rehn, Europe is considering strengthening the capacity of the European support fund for countries in trouble (EFSF). Rumors press also reported a proposed quadrupling of the Fund&#39;s lending capacity to 2000 billion euros. In turn, an official of the ECB, the Austrian Ewald Nowotny, did not rule out declines in interest rates in the euro area.But soon, the German Finance Minister Wolfgang Schäuble said that Europeans had &quot;no intention of bailing out&quot; the EFSF. </p>
<p> The Spanish Minister of Economy Elena Salgado also said Tuesday that an increase of two thousand billion euros in the capacity of the European Support Fund &quot;was not on the table.&quot; Political leaders are clearly divided on the concrete responses to the debt crisis, while discussions on the payment of a new international loan to Greece, vital to enable it to avoid bankruptcy dragged on. At the same time discontent rises and Athens was again paralyzed Tuesday by a wave of strikes in public transport. </p>
<p> More good news, the constraint on bank lending is beginning to loosen.The private sector credit grew by 2.6% year on year in August in the euro zone, against 2.4% in July. Loans to households grew by 3% in August, while consumer loans to individuals have declined only 1.6% against 2% last month according to figures released Tuesday by the European Central Bank (ECB) . Moreover, housing starts for new homes in France, climbing 8.1% year on year for the period from June to August. However, they mark a slowdown from earlier this year: the pace of growth in the first quarter was still 35.5%. The number of building permits for new homes has increased its share by 9.8% year on year for the same period. </p>
<p> The euro was weakening on Tuesday to below $ 1.35. At midday, the euro stood at 1.3496 dollars, against 1.3523 dollars late Monday.He had fallen in session Monday to 1 <a href="http://payday-loans-cheap.com">paydayloans</a><!-- . -->.3363 dollars, its lowest level since mid-January, prior to recover. As for commodities, gold has recovered slightly this morning at 1640 dollars an ounce after declining over the last three sessions. </p>
<p> Values ​​follow:
<p> The banking sector is driven by rumors of recapitalization.BNP Paribas advance of 9.25%, largest increase in the CAC 40 7.46% Credit Agricole and Societe Generale 8.55%. </p>
<p> Total (2.97% to 32.25 euros) reduced the number of banks in which it deposits funds for fear of a credit crunch in the euro zone, but remains confident in the French settlements, said its chief financial officer the agency Dow Jones and The Wall Street Journal. </p>
<p> The CEO of Renault (4.20% to 25.30 euros), Carlos Ghosn, said on Monday to Reuters that he saw no sign of slowdown in global demand despite the debt crisis in Europe and economic uncertainties in the United States.He expects an increase in car sales in the United States in 2012. </p>
<p> The title of the French automotive supplier Aries (18.64% to 7 euros), specialized in the production of aluminum parts, flew Tuesday in the Paris Bourse, with a net income higher than expected in the first half (6.7 million euros, up 31.3%). </p>
<p> Thales (2.08% to 24.58 euros) for its part plans to sell part of its services activities, according to Les Echos on Tuesday. The division, which last year made 81 million euros in sales, employs approximately 500 people. Logica names and GFI Informatique circulating among potential buyers. </p>
<p> Dexia (6.09% to 1.48 euros) is facing a complaint from the town of Rosny-sur-Seine (Yvelines), which has borrowed toxic.The mayor filed a complaint for &quot;organized fraud&quot; and &quot;deception&quot; with a civil court of first instance of Versailles against Dexia Credit Local. </p>
<p> Ipsen (3.56% 22.57 euros) was acquired from the Norwegian pharmaceutical company Photocure marketing rights of Hexvix, its flagship product for the diagnosis of bladder cancer. </p>
<p> The retailer Casino (2.29% to 57.13 euros) saw its price target reduced from 81 to 74 euros by HSBC. Land areas (4.54% to 50.73 euros) for his part saw the recommendation on its title upgraded to &quot;buy&quot; against &quot;hold&quot; earlier by ING. </p>
<p> Neopost (4.05% to 57.23 euros) will release its results for the first half after market. </p>
<p> ALSO READ: </p>
<p> &quot;Week crucial for Greece </p>
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		<title>Hesitant, Wall Street closed on a small rise</title>
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		<pubDate>Tue, 13 Sep 2011 20:44:17 +0000</pubDate>
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		<description><![CDATA[ The U.S. stock markets in the green close an arduous one session on Tuesday. After starting down, the Dow ended with a gain of 0.40% to 11,105.85 points while the Nasdaq climbed 1.49% to 2532.15 points and the S &#38; P 500 by 0.91% in 1172 , 87 points. 
 Investors had eyes turned [...]]]></description>
			<content:encoded><![CDATA[<p> The U.S. stock markets in the green close an arduous one session on Tuesday. After starting down, the Dow ended with a gain of 0.40% to 11,105.85 points while the Nasdaq climbed 1.49% to 2532.15 points and the S &amp; P 500 by 0.91% in 1172 , 87 points. </p>
<p> Investors had eyes turned to Europe, where each new about the problems of sovereign debt is analyzed carefully. Like yesterday, the news that Rome had asked Beijing to make significant repurchases of its sovereign debt, has indeed done so. While Italy has been completely denied the reports, the fact that China could get involved gives some confidence to operators.</p>
<p> Similarly, another new fueling hope the five emerging BRIC (Brazil, Russia, India, China, South Africa) should discuss next week the opportunity to assist the EU in turmoil the debt crisis. They could increase their holdings of bonds denominated in euros. </p>
<p> Finally, the announcement of a conference call Wednesday between Greek Prime Minister George Papandreou, French President Nicolas Sarkozy and German Chancellor feeds market recovery. Some investors have been dreaming of sensational announcements. </p>
<p> The United States involved
<p> U.S. operators, such as Europe and Asia, remain very concerned about Greece. They fear it will not be able to meet these budget commitments, which threaten to bankrupt the country and aggravate the crisis in Europe.An output of the euro in Greece is also now considered by many economists. </p>
<p> This morning Jean-Pierre Jouyet, chairman of the Financial Markets Authority (AMF), said on iTV that Greece may have to undergo further restructuring of its debt than expected. German side, Angela Merkel is trying to catch up about his Economy Minister Philipp Rösler, who spoke Monday the event of a default of Athens.In a radio interview BBB, the Chancellor found it necessary to &quot;avoid any uncontrolled process in the euro area.&quot; </p>
<p> The United States also stressed that they became involved in resolving the crisis in the eurozone, as the Treasury secretary, Timothy Geithner will participate Friday in the meeting of Ministers of Economy and Finance Union European Poland. </p>
<p> The U.S. deficit rises again
<p> On the foreign exchange market, the euro was down slightly Tuesday against the dollar and the yen on Monday after falling $ 1.35 for the first time since February and the lowest for 10 years against the yen, and the voltage was strong, the markets fear more a possible failure of Greece.At the opening in New York, the European currency was worth 1.3673 dollars against 1.3624 dollars. </p>
<p> As for oil prices, they ended up sharply Tuesday, the market betting on a sharp drop in crude inventories in the United States, despite pessimistic forecasts of consumption of the International Atomic Energy Agency (IEA). On the New York Mercantile Exchange, a barrel of &quot;light sweet crude&quot; for October delivery ended at 90.21 dollars, up 2.02 dollars compared to the previous day. </p>
<p> On the macroeconomic front, the prices of imported products in the United States had started to decline in August, according to figures released by the Washington Department of Labor. The price index for the ministry declined 0.4% from the previous month, after rising 0.3% in July. This is its second decline in three months.It is lower than in June, where import prices have declined for the first time in a year (0.7%). </p>
<p> The fiscal deficit of the United States it is increased again in August after four consecutive months of decline, according to figures released Tuesday in Washington by the Treasury Department. The negative balance of public finances of the federal state stood at 134.152 billion dollars for the eleventh month of the fiscal year 2010-2011, 48% more than in August 2010, the ministry said. </p>
<p> Samsung attack Apple
<p> The side of values, Hewlett-Packard (0.53% to 22.70 dollars) announced on Tuesday that 41.62% of the shareholders of Autonomy UK (1.63% to 39.85 dollars) had supported its bid.The U.S. group also announced it was extending its offer until Oct. 3. </p>
<p> The giant South Korean Samsung Electronics Electronicsa complaint in France against its U.S. rival Apple (1.23% to 384.62 dollars) for a litigation involving three patents relating to UMTS technology. &quot;The complaint focuses on three technology patents, and not the design of the shelves,&quot; as was the case during a recent trial in Germany, said a spokesman for Samsung. </p>
<p> Rating agencies could worsen them. Moody&#39;s (3.29% to 30.46 dollars) has indeed said yesterday that it planned to degrade the note by the McGraw-Hill (3.01% to 41.471 dollars) has announced its intention to focus on rival rating agency Standard and Poor&#39;s division after educational activities.Fitch has already passed the act. </p>
<p> For his part Nordson Corp. (5.39% to 42.59 dollars) yesterday announced after the close had authorized a share repurchase program of $ 100 million. </p>
<p> Note also the U.S. internet group AOL (-2.47% to 14.39 dollars) has appointed a new editor for TechCrunch, the site of information on technologies he had bought in September 2010, after 10 days controversy over the fate of the former owner, Michael Arrington. The new editor is Erick Schonfeld, Associate Editor edited by Michael Arrington. AOL announced that Michael Arrington, founder of the site, decided to leave TechCrunch and AOL to devote to investment funds that it recently launched. </p>
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		<title>Moody&#039;s ready to break down the French banks</title>
		<link>http://oursaviorsalbany.org/moodys-ready-to-break-down-the-french-banks/</link>
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		<pubDate>Mon, 12 Sep 2011 00:56:38 +0000</pubDate>
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		<description><![CDATA[ Three months after threatening to degrade the notes of BNP Paribas, Societe Generale and Credit Agricole, put under surveillance, the U.S. rating agency Moody&#39;s could increase to act shortly shortly. According to sources familiar with the matter, the decision was &#34;imminent.&#34; &#34;It comes at the end of three months to impose surveillance,&#34; says a [...]]]></description>
			<content:encoded><![CDATA[<p> Three months after threatening to degrade the notes of BNP Paribas, Societe Generale and Credit Agricole, put under surveillance, the U.S. rating agency Moody&#39;s could increase to act shortly shortly. According to sources familiar with the matter, the decision was &quot;imminent.&quot; &quot;It comes at the end of three months to impose surveillance,&quot; says a source. The rating agency that had accompanied its implementation in June under the supervision of a negative outlook was indeed clear the way for a deterioration in credit ratings. One step for BNP Paribas and Credit Agricole and Societe Generale for two.And because of their exposure to Greece amounted to 4 billion euros to BNP Paribas, Société Générale 1.6 billion and 320 million to Crédit Agricole (June 2011 figures). </p>
<p> With the crisis of government debt in the euro area, to which Europeans are struggling to meet, investors are increasingly worried about the strength of the European banking system. The situation has become such an outflow of Greece in the euro area is openly discussed by senior politicians in Germany and the Netherlands. In exchange, banking stocks suffered a pounding in order. Since the beginning of the year, BNP Paribas, Credit Agricole and Societe Generale have lost between a &quot;large&quot; third and 60% of their value.On the first day of September, the losses of the three titles are respectively 17.45%, 22.33% and 27.69%. </p>
<p> Analysts relativize
<p> Especially, a controversy arose in late August on the valuation of debt securities by certain Greek French banks. The IASB, the body responsible for setting international accounting standards, criticized some financial institutions are not named, have valued their claims on the Greek state in ways internal development rather than by using market prices. Which would have allowed banks to spend less severe impairment in their accounts. Even if they have applied a discount of 21% on government debt they have in their accounts, the three banks still have about six billion euros of Greek sovereign debt.</p>
<p> Some analysts relativize however, the scope of the surveillance on June 15 the three French banks by Moody&#39;s by saying that the other two rating agencies, Standard &amp; Poor&#39;s (S &amp; P) and Fitch attributed to them have lower grades. Crédit Agricole SA is now rated &quot;Aa1&quot; by Moody&#39;s, and BNP Paribas and Societe Generale are rated &quot;Aa2&quot;. S &amp; P assigned the notes &#39;AA&#39; with a negative outlook to BNP and &quot;A +&quot; with stable outlook to Crédit Agricole and Societe Generale. Fitch is on his side to &quot;AA-&quot; with stable outlook to BNP Paribas and Credit Agricole, and &quot;A +&quot; with stable outlook for Societe Generale. </p>
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		<title>Michelin speeds in the low-cost China</title>
		<link>http://oursaviorsalbany.org/michelin-speeds-in-the-low-cost-china/</link>
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		<pubDate>Wed, 07 Sep 2011 23:32:09 +0000</pubDate>
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		<description><![CDATA[ Revolution in Clermont-Ferrand. To conquer China, Michelin, the tire specialist high-end, the gum is in the low-cost. The manufacturer yesterday signed a definitive agreement with two Chinese groups to create a joint venture that will produce and market products for passenger cars and light trucks under the brand Warrior. The principle of this agreement [...]]]></description>
			<content:encoded><![CDATA[<p> Revolution in Clermont-Ferrand. To conquer China, Michelin, the tire specialist high-end, the gum is in the low-cost. The manufacturer yesterday signed a definitive agreement with two Chinese groups to create a joint venture that will produce and market products for passenger cars and light trucks under the brand Warrior. The principle of this agreement was announced in April. It must still be approved by the Chinese authorities. </p>
<p> The new company is 40% owned by the French and 60% by local partners, Double Coin and Huayi. The plant, under construction, will be located in Wuwei, about 400 kilometers west of Shanghai. The project, costing about 390 million, is intended to eventually produce 15 million tires per year, for the Chinese market.The operation was hailed by the Paris Bourse, where the title Michelin jumped 5.3%. </p>
<p> Double in size
<p> The group, whose main production facilities located in markets &quot;mature&quot;, had already started the construction of three giant plants in China, Brazil and India. In the Middle Kingdom, where it is installed since 1988, the company has four factories and employs over 6000 people. </p>
<p> Michelin, who wants to double in size in developing countries by 2020, up particularly in Asia, where he says the market should grow by 9 to 10% annually over the next few years. In the first half, he realized, however, still 75% of its sales in Europe and North America. </p>
<p> To succeed in Asia, including China, the French had no choice but to face the players in the middle and entry-level, such as the Korean Hankook, which hold 40% of the world.And that growth has come at the expense of leaders Bridgestone, Michelin and Goodyear. Between 2004 and 2009, global market shares of French are well past 19.4% to 15.5%. &quot;It is very important to have a presence in this niche&quot; of low-cost, recently explained Jean-Dominique Senard, the new managing partner of the group. &quot;We can not leave the field open to our Asian competitors, more and more aggressive.&quot; Michelin will instead expand the availability of its distribution network in order to &quot;meet all customer demands.&quot; So far, &quot;we were not able to do so profitably,&quot; says Jean-Dominique Senard. </p>
<p> Prior to the signing of the agreement, Michelin Warrior Tire already manufactured at its plant in Shanghai Double Coin brand which had given him to use.The French had created a joint venture with the Chinese group in 2001 which he had bought the shares in 2010. The goal now is to dedicate the site of Shanghai to the Michelin brand, and &quot;to increase greatly the production of the Warrior brand&quot; with the new joint venture, said Bibendum. </p>
<p> Relations with Double Coin had not always been in good shape, since 2007, Michelin had accused its Chinese partner to produce in its plants counterfeits of its truck tires. </p>
<p> ALSO READ: </p>
<p> &quot;The five challenges of the future head of Michelin </p>
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		<title>Low morale in Asian stock markets</title>
		<link>http://oursaviorsalbany.org/low-morale-in-asian-stock-markets/</link>
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		<pubDate>Sat, 03 Sep 2011 12:04:09 +0000</pubDate>
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		<description><![CDATA[ Good humor gives way to doubts about the Asian stock markets. This Friday, the main financial centers in the region are displayed in red, the footsteps of Wall Street yesterday. The U.S. stock market ended the session on a sharp decline, investors who do not wish to comment before publication of the monthly employment [...]]]></description>
			<content:encoded><![CDATA[<p> Good humor gives way to doubts about the Asian stock markets. This Friday, the main financial centers in the region are displayed in red, the footsteps of Wall Street yesterday. The U.S. stock market ended the session on a sharp decline, investors who do not wish to comment before publication of the monthly employment by the Department of Labour. Moreover, indicators were mixed deleted the enthusiasm that had allowed the NYSE to chain four sessions of consecutive increase. While manufacturing is still growing and the weekly jobless claims fell, construction spending and productivity fell. In addition, the White House has lowered its growth forecasts. </p>
<p> In Tokyo, the Nikkei has started on the day down 0.89% and has cut its losses during the day.At closing, he gave up 1.21% to 8950.74 points, plunging below 9,000 points reached Thursday. The Topix, wider, has sold 1.09% to 769.78 points. In addition to disturbing signs in the U.S., traders took the opportunity to take profits after six consecutive sessions of gains. Side values, the technology sector, which had supported the coast yesterday, is now under attack. Sony lost 4.30%, 5.12% TDK, Sharp 1.57%. Toyota and Honda respectively lost 1.74% and 2.35% after poor sales figures in the United States. </p>
<p> Note also in Japan the establishment of the new government. The new prime minister, Yoshihiko Noda, awarded the finance portfolio to a member relative novice, Jun Azumi, 49, and former host of the public broadcaster NHK <a href="http://payday-advance-i.com">low fee payday advance</a><!-- . -->. Yoshio Hachiro, a former member of the Social Democratic Party, was appointed Minister of Commerce.Motohisa Furukawa, a former adviser to the Ministry of Finance, will be economy minister. </p>
<p> In Hong Kong, the Hang Seng lost 1.32%. The Internet sector is also battered the image of Lenovo (-1.53%) and Alibaba.com (-2.37%). In Shanghai, the Shanghai Composite was down 1.28%. In Hong Kong, </p>
<p> In Korea, the Kospi drops 0.82%. The S &amp; P Australian loose 1.42%, weighed down by mining. BHP, trucks from the coast, losing 1.83% while Rio Tinto was down 1.26%. Only the Indian Sensex remains in the green, up 0.63%. </p>
<p> Oil mixed
<p> Oil prices were mixed on their part Friday morning in electronic trading in Asia, where the market wait before issuing the monthly report on employment in the United States, and while approaching the U.S. coast the violent disturbance, Katia.In the Gulf of Mexico, which supplies a quarter of the production of black gold in the United States, BP, ExxonMobil and Royal Dutch Shell began evacuating their staff from oil platforms. In morning trading, a barrel of &quot;light sweet crude&quot; for delivery in October lost 2 cents to 88.91 dollars per barrel of Brent North Sea crude for October delivery gained 19 cents to 114.48 dollars. </p>
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		<title>Financial circles opposed to the Tobin tax</title>
		<link>http://oursaviorsalbany.org/financial-circles-opposed-to-the-tobin-tax/</link>
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		<pubDate>Wed, 17 Aug 2011 22:36:08 +0000</pubDate>
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		<description><![CDATA[ By delivering on their dream table Tuesday to tax financial transactions in Europe, Nicolas Sarkozy and Angela Merkel could expect an outcry. It has taken place. From Dublin to London via Stockholm, policy makers have expressed reservations about the proposal, while the financial community condemnation.&#34;It would be a drag on economic growth,&#34; has outraged [...]]]></description>
			<content:encoded><![CDATA[<p> By delivering on their dream table Tuesday to tax financial transactions in Europe, Nicolas Sarkozy and Angela Merkel could expect an outcry. It has taken place. From Dublin to London via Stockholm, policy makers have expressed reservations about the proposal, while the financial community condemnation.&quot;It would be a drag on economic growth,&quot; has outraged the Association for European financial markets. </p>
<p> In fact, European stock markets have imposed a new session Wednesday down to banking stocks, involving an opportunity for companies to NYSE Euronext, Deutsche Börse or London Stock Exchange, may be penalized by a Tobin tax, named after its inventor. </p>
<p> While the Franco-German plans to develop detailed proposals in September, the Swedish finance minister, Peter Norman, shows him, already his skepticism: &quot;I do not see the positive effects that a tax on transactions in Europe could be, &quot;he said. </p>
<p> Swedish experience
<p> Sweden keeps a bad memory from his own experience of tax established in the 1980s, before being abolished in 1991.According to researcher Marion Wrobel, the Swedish Treasury was then recovered some 50 million SEK per year, far from the expected 1.5 billion minimum. And above all, by 1990, half of the activities on the actions of the financial Nordic had flown to London, those on bonds and derivatives that have been decimated. </p>
<p> Well placed to know that financial businesses relocate overnight, the City has no desire to suffer a similar fate. The British Treasury has hammered yesterday that a tax on financial transactions should be global. Last year, Angela Merkel and Nicolas Sarkozy had failed to join the G20 &#8230; Even obsession with competitiveness for Ireland. London looks so New York, Dublin has eyes only for London.The Irish Finance Minister has warned its partners against the temptation to limit the tax to the euro area, to bypass the &quot;no&quot; British. </p>
<p> These had led opposition last year, the failure of the tax already led by France and Germany. The government had then opted for a direct drain on bank profits, easier to implement. Since this refusal, however, the terms of debate have changed. </p>
<p> This proposal is in fact in a context of unprecedented turbulence in the European markets and defense of the euro. Proponents of the Tobin Tax ensure that it is likely to limit speculation, even if professionals swear otherwise. Above all, the proceeds of the levy would not have the same use. In 2009, it was intended to finance development aid.In 2011, the EU would be well integrated in the tax budget with revenues swell to 350 billion euros between 2014 and 2020. What changed the political balance of power? Vienna, Madrid, Helsinki or Madrid yesterday reported good interest in the Franco-German project. </p>
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