The week starts well for the Asian market. On Monday, all financial markets appear to increase sustained. At the Tokyo Stock Exchange, the Nikkei opened up 1.53% and growth is accelerated in mid-session (1.80%) before finishing on a gain of 2.09% to 10,567.25 points. This is its highest level in six weeks.
The morale of Japanese investors is supported by sound macroeconomic statistics, published Monday. Japan has indeed registered in January of a current account surplus of 899.8 billion yen (6.9 billion euros), after having suffered a record deficit de132, 7 billion yen last year, according to the Ministry of Finance . This figure is higher than the forecasts of economists who were expecting on average a surplus of 750 billion yen.
In addition, Asian markets continue to react positively to the figures of U.S. employment, less bad than expected on Friday.The United States lost 36,000 jobs in February. The consensus of analysts foresaw from 50,000 to 67,000 job cuts. The unemployment rate remained steady at 9.7%, consistent with him, anticipated savings account payday advance . The announcement Friday, coupled with an increase in consumer credit (4.96 billion dollars in January, the first increase in a year), led by Wall Street and European financial centers, close to the green.
Exchanges in the region follow suit
In the wake of Tokyo, the benchmark Hang Seng Stock Exchange of Hong Kong climbed 1.92% to 21,186.09 points. The Shanghai Stock Exchange is 0.74% at 3053.60 points.
The other exchanges in the region follow. Korea's KOSDAQ is up 0.73% to 1267.63 points. The Bombay Stock Exchange posted an increase of 0.92% to 17,150.53 points.The S & P 200 Australian climbing 0.85% to 4807.90 points.
The increased gross
As for commodities, crude prices were trending upward in Asia on Monday. The barrel of light sweet crude for April delivery gained 47 cents to 81.97 dollars, reaching the highest at 82.04 dollars before retreating.
The barrel of Brent North Sea at the same maturity, took 47 cents to 80.36 dollars.
French carmaker PSA Peugeot Citroen announced Wednesday a net loss of 1.161 billion euros in fiscal 2009, more than three times more than the 363 million euro loss a year ago. The turnover amounted to decline from 10.9% to 48.417 billion euros.
The year 2009 is characterized by an evolution "very mixed," the group said. In the second half, the recovery observed in the market, supported mainly by premiums scrapped in several countries, led by PSA Peugeot Citroën to increase market share – 5.1% – and find a net operating profit positive 137 million euros over the last six months of the year after losing in the first half.Finally, the past year, it is negative ground, 689 million euros.
Based on this trend, and to a further increase its market share in 2010, PSA Peugeot Citroen said it planned a current operating profit in the first half of 2010.
However, this year, "Market conditions continue to be difficult," said Chief Executive Philippe Varin, who expects the withdrawal of European car market of around 9%. In the radar screens, the Automotive Performance Plan "to support sales, reduce costs and better use of production capacity," the official said.The launch of new models is also subject to high expectations.
The manufacturer's financial results for 2009 reflect the impact of the economic crisis: global sales were folded by 2.2% to 3.188 million units in a market decline of 3.1%. However, the debt has been reduced from 913 million euros, now lying under 2 billion euros to 1.993 billion euros. Shareholders' equity amounted to 12.4 billion euros at December 31, 2009, for a debt ratio of 16%.
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This is without state support that Ford has managed to overcome its difficulties. The U.S. manufacturer announced Thursday it had made a net profit of 2.699 billion dollars over the full year 2009. A performance to be compared with the heavy loss of 14.766 billion harvested in 2008. Over the year, turnover was down to 138.1 against 118.3 billion in 2008.
The group included supporting a very successful fourth quarter. Over this period, the second largest U.S. behind General Motors reports net earnings of $ 868 million against a loss of about 5.978 billion dollars a year earlier. The per share earnings is 25 cents, hardly less than the 26 cents analysts who had forecast. Over this period, revenues totaled $ 35.4 billion against 29 billion a year earlier, an increase of 22%.
Before the opening of Wall Street, the title jumped 2.68% to 11.86 dollars.
$ 500 million quarterly savings
To obtain this result, Ford has relied on reducing structural costs of automotive operations payday advance . A total of 500 million dollars were saved in the fourth quarter. The group did not hesitate to pursue a higher price for its vehicles. His arm Ford Motor Credit has contributed to higher profits in this period with a profit before tax of $ 696 million against a loss of 372 million in 2008.
Ford is the only manufacturer of the "Big Three" of Detroit (with General Motors and Chrysler) have not gone bankrupt. It is reassuring for the future and plans to write "a profit before tax and excluding exceptional items for 2010, without specifying numbers.In addition to profitability, the group is including a U.S. car market between 11.5 and 12.5 of vehicles this year. In the year 2009 in the United States, sales at Ford fell 15.4% to 1.68 million units. Note that, after hesitating a large part of the morning, the Paris Bourse is moving more strongly in the green then qu'affluent results of U.S. companies show no surprises.
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China takes the issue of energy efficiency head on. The central government announced Wednesday the creation of a National Commission of Energy. Its mission: "to strengthen the strategic and policy coordination in the energy field.
This Commission will be chaired by Premier Wen Jiabao and co-chaired by Vice-Premier Li Kegiang. Among the 21 members it will have included several ministers.She will be responsible for developing "a national strategy on energy, key issues relating to security and energy development" for the overall coordination in domestic and international cooperation in this field, explains the central government, in his statement.
A voracious appetite for energy
During a visit to the headquarters of the National Commission of Electricity Regulation in Beijing, January 14, the vice-premier Li Kegiang stressed the need to intensify efforts to ensure security of supply China's energy. The country has experienced sharp drops in temperatures and heavy snowfall this winter, which boosted energy demand and tight supply, said Li Kegiang.
After the winter, the supply remains a critical issue for China.Driven by economic and population growth over the past thirty years, Chinese energy consumption has exploded. China has become the second largest energy consumer in the world behind the United States pay day loans .
The critical issue of supply
Its energy dependence is increasing accordingly. Thus, the country has been dependent to 52% of its crude oil imports in 2009, against 47% in 2006, says AFP. According to Wang Xudong, president of the National Commission of Electricity Regulation, Chinese consumption of electricity could rise by 7% this year if the country maintains its economic growth rate of 8%. Consumption had increased by 6.44% in 2009 compared to 2008, according to figures from the Chinese Ministry of Commerce.Coal, however, still represents 70% of the energy consumption of China.
Focus on efficiency of energy policy
For Beijing, centralization is the answer to this challenge of supply. "Energy policy is now conducted by various ministries and local authorities," said Xu Bei, economist at Natixis. "The creation of this new body will respond to an emergency security of energy supply." The main domestic priority.
Ultimately, the Commission could also help Beijing to seal agreements on international cooperation, said He Jun, of Anbound Consulting. Provided that his role is really detached from that of many other government agencies that account China.
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This is a slight reversal done discreetly. An amendment to Article 1 of the bill on the changed status of the Post provides an entry into force of the text on 1 March 2010 instead of January 1. This is the UMP deputy for Haute-Loire Jean Proriol who took the initiative. Main reason: the discussions in Parliament have taken too late. The amendment states that "due to the postponement of consideration of the bill from the original schedule and the high likelihood of referral to the Constitutional Council, the promulgation of the law before 1 January 2010 is now unrealistic.
The postponement of two months per se has no consequences for the Post. However, the very symbol of the government which wanted to launch the change of status one year to the day before the liberalization of market positions across Europe.
This change must be approved by members during consideration of the bill on Tuesday to the National Assembly. If heated discussions ahead in the chamber, the tension should be even more palpable outside. Already in the afternoon, several demonstrators, including the NPA leader Olivier Besancenot, tried to climb the gate of the Palais Bourbon, equipped with smoke and banner bearing the likeness of Sud-PTT union.
An examination of the text in the Parliament should continue until Thursday before a formal vote January 12.
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The share offer launched between mid-November and 1 December will have achieved an introductory course to 26 euros for CFAO. Removed from the listing of its parent company PPR in 1990, CFAO sign a return winner, rising 4.04% to 27.05 euros at closing.
This makes it the biggest IPO in Paris for the Bureau Veritas in October 2007.
CAD / CAM activities are divided between sales of Toyota and Peugeot in Africa, the manufacturing Bic pens in Nigeria, the distribution of drugs Novartis and Pfizer, bottling beer Heineken and Coca-Cola in the Congo or the installation of Otis elevators.
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More than 600 amendments and three motions, including a referendum motion. The senators have bread on the plate. They review from today Bill Post in transforming a company limited by shares. This text France transposes the EU Directive provides that the full liberalization of the postal delivery will take effect in 2011. It confirms its public service missions to the company and the existence of the 17 000 points of contact in France.
The Senate debate will last all week to get it over early Friday, by Sunday. "On a subject that is as much controversy, 600 amendments, it is not surprising, says Peter Hedgehog UMP Senator and rapporteur of the text. The Communists have tabled amendments to delete section by section. "According to Article 1 which transforms the status of La Poste, will pass unchanged."Already adopted by the Committee, it will not be discussed again by the majority."
A week of local actions
Yet the point that crystallizes the most virulent opposition. Its opponents see it as the first step towards privatization of the company. Beginning with the National Committee against the privatization of La Poste. Bringing together some sixty associations, unions and leftist parties, it requires the abandonment of the bill and a referendum on the issue after "voting citizen" in early October when 2.3 million people participated. The committee called Friday for a week of local actions throughout France, until November 7.To mark the occasion, he invited senators and personalities of the show today to share a picnic and a "happy hour" with militants in the Luxembourg Gardens in Paris.
It asserts, finally, having printed more than 5 million postcards to be sent to the president calling for a referendum on the future of La Poste.
"Touching the status of La Poste will inevitably have an impact on the future of postal workers and the French territory, in particular his campaigns, said Martial Bourquin, Senator PS Doubs. The Socialist Party is against this change. As SNCF, La Poste can remain a public industrial and commercial, while facing competition. I filed 41 amendments and the Socialist Party over 400 in total. "
The government has filed such an amendment changing the financing of the mission planning of La Poste.In committee, Senator Pierre Hedgehog had pushed through, against the advice of the government, an amendment of 80% to 100% tax exemption for The Post on the business tax to fund its network. A new amendment will be presented by the government. "The 100% is deleted, to avoid legal action from Brussels, says Pierre Hedgehog. The amount of the reduction will be assessed each year and included in the budget bill. "
London
The Conservatives have hit hard. Visiting at Thomson Reuters in Canary Wharf – the other lung financial London with the City – George Osborne, the rising star of the party presented its plan for the bonus. The finance minister's shadow cabinet, David Cameron, who did not 40 years, called the Treasury and the FSA, Constable of the British Stock Exchange, "to unite their forces to ensure that banks stop squandering their profits in huge bonus. " The highest paid bankers, including those with premium "six figures," Osborne says the BBC, should receive as 2 000 pounds maximum (less than 2 200 euros) in cash, the rest would be paid in shares.In the crosshairs, the British retail banks Lloyds, RBS, HSBC and Barclays, as well as their investment subsidiaries.
This proposal is intended to boost lending, while, according to George Osborne, the credit crunch is still raging in Britain "starved of credit and confidence". The initiative, temporary, could free him by 20 billion pounds for the trade or consumers.
The measure goes much further than those taken at G20 Pittsburgh last month, calling to pay only half the bonus tracks because, for the voice of Tory finances, "we can not expect a culture more responsible bonuses into place by itself. We must take urgent action. " The Conservatives took the example of the United States, where new policies of the Obama administration will lead to a reduction of 90% bonuses to employees the best paid."America works. Britain today does not, "Osborne Assen.
Labor has taxed George Osborne of hypocrisy. "The Conservatives have fought against all the plans that were put in place to support business and jobs," said Liam Byrne, secretary of the Treasury. "We have already introduced more stringent regulation in the world, says the Labor Party. We have not banned short bonuses in retail banking because it's impossible, but we are in talks with RBS and Lloyds about bonuses in 2009. The conservative discourse has also aroused the indignation of retail banks , who argue that "the culture of big bonuses is rather that of investment banks.
The United States as an example
The offensive conservative times, however timely.Last week, the CEBR Institute reported that in 2009 the bonus should be around 6 billion pounds in Britain, an increase of 50% compared to 2008. And on Monday, an IDS study found that if the bonus bosses 2008-2009, the largest UK listed companies have fallen by one third, increasing their salary has almost offset the decline. Two studies that provoke anger from the British while the macroeconomic data are poor, as evidenced by the contraction of GDP in the third quarter. At 8 months of a national election, the Tories have tried to show they had a plan of action to propose.
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Banks represent a risk that ultimately the States are obliged to assume, especially when it comes to very large financial institutions. This fact, proved from bank rescues of 2008, coupled with the poor state of public finances in major western economies, has given birth to the idea of additional taxation of the banking sector.
This Friday, the president of the U.S. Federal Reserve has certified the principle. "Any cost incurred by rescue of the government should be covered by a levy on the financial industry, not taxpayers," said Ben Bernanke.
Today, there are already in the United States a fund federal deposit insurance, the FDIC is funded by premiums paid by banks for deposit.The organization monitors the credit risks taken by banks and traditional acts to seize and liquidate those who make the balance sheet (hundreds since the beginning of the year). Not only did the FDIC reached its limits in terms of resources, but it has no counterpart for investment banks, specialized crafts markets, which do not collect public savings. Ben Bernanke would therefore address this deficiency.
The statements by the Fed chief may find an echo in Europe, where governments, or parliaments, are weighing the idea of charging the banks a kind of "insurance premium" in exchange for funding last spring that the State gives them, even implicitly. The Belgian federal budget was the first to explicitly.The United Kingdom is considering the at least one major institution, the Lloyds Banking Group.
In France, the same argument that has been brandished by members (see sidebar). At European Commission Tuesday urged that a dialogue on ways of resolving banking crises, has indicated its preference for funding by the "private sector".
Equity strengthened
In Washington, the debate focuses on the legal means available to the authorities to treat cases of collapse. This Friday, Ben Bernanke highlighted the adoption by Congress of the proposed reform of finance presented by the White House is pressing. The plan for accreditation before the end of the year is not acquired, would allow federal authorities to seize troubled financial institutions, even if they do not have the status of banks.The lack of a framework for such intervention was sorely felt last year when the insurer AIG found itself on the brink of bankruptcy.
Occasionally, this Friday, a conference organized by the Boston Fed, Bernanke also defended the principle of minimum capital requirements more stringent for banks whose health is essential to the stability of the financial system. The Federal Reserve, in consultation with its foreign counterparts, is working to develop rules requiring these banks to raise capital in the form of shares. In all cases, the idea is to shift priority to shareholders and creditors of banks that take risks, to reduce the likelihood of injecting public funds. Bernanke also promised that the Fed would sanction the compensation that would encourage taking undue risks.
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A cap crossed over to the Chinese industry. According to Xinhua, the country has reached Tuesday symbolic threshold of ten million vehicles produced since the beginning of the year. A news that pleased the authorities. Only the United States and Japan have in the past crossed the symbolic threshold, the agency noted.
Overcoming this bar in early October, and comes a little earlier than expected. Analysts had expected the effect that 10 million are crossed in mid-October. Production expected by the market for the full year 2009 was for its more than 12 million vehicles.
This fact confirms at least the strength of the Chinese automotive market, it is now early in the year the first global automotive market, from well before the United States, particularly boosted by government measures for the automobile industry such as decrease of 10% to 5% tax on the purchase of new vehicles with engines at or below 1.6 liters. And the country should not stop there: sales in the first nine months of the year have already surpassed the 2008 total.
"China firmly planted on four wheels