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BlackBerry breaks teeth on the shelves

There is no cause for celebration. After having downgraded its forecasts for its first quarter, Research In Motion (RIM), the Canadian manufacturer of BlackBerry, is predicting a difficult year 2012 (year ended March 31). Thursday evening after the close of trading, the group reported poor results for its first quarter, significantly down compared to previous quarter performance. At three months, sales of BlackBerry fell 11% to 13.2 million units. Consequently, the turnover will decline from 12% to $ 4.9 billion and profit down 10% to 695 million.

Layoffs

"The slowdown we saw in the first quarter continued in the second and delays in new product launches in late August lead to lower than expected forecast for the second quarter," said Jim Balsillie, co-president of RIM .He also announced a restructuring plan that will lead to a downsizing of the company to "avoid duplication." Without giving more details on its size payday loans. The group currently has approximately 12,000 employees worldwide.

The words of Jim Balsillie on the Group's financial strength has not reassured the markets. Nor does the sales duPlayBook, the tablet group, including 500,000 copies were sold in six weeks. This figure is almost too good to be true. It fits perfectly with the objectives the group, but failed to mention that it comes on the market one year after the outbreak of hostilities initiated by the iPad.Moreover, sales of PlayBook are well below those from Apple, which sold nearly 2 million iPad in two months.

Consequence of the performance against the first quarter and the bleak outlook for the future, during the informal session transaction after the market closes, the title has sold more than 15% yesterday in New York.

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iOS 5 and icloud: updates to the iPhone

Serious competition from Google's Android, Apple gave Monday a facelift to the iPhone. Surrounded by a cohort of leaders, CEO Steve Jobs introduced from San Francisco, California, the new version of IOS, the operating system behind the iPhone, iPad, iPod touch. This software, including a 5 iOS draft was made available to developers on Monday, will be available for the iPhone 3G, iPhone 4, iPad iPad 2, and the latest iPod touch here in the fall short term personal loans. Here's what we can learn from this presentation.

Devices iOS archive their data on Wi-Fi and 3G. Photo credits: Kimihiro HOSHINO / AFP

Rights football: showdown between the LFP and Canal +

This Friday at 11 am, the Professional Football League (LFP) will kick off the award of broadcasting rights of football championship of France from 2012 to 2016. The stakes are high, because these fees represent 668 million euros per year for professional clubs. This year is the outstanding total. On the one hand, the LFP to maximize its revenue, on the other Canal +, L1 traditional broadcaster, wants to reduce his bill, a current amount of 460 million euros. In 1999 and 2004, the LCS had raised the stakes by pitting Canal + and TPS. GST but was bought by Canal +. In 2008, the LCS had found a new ally with Orange which spent 208 million per year for the big game on Saturday evening and mobile rights. But Stephane Richard, the new CEO of France Telecom, has thrown in the towel. Canal + remains only candidate.

Between the LFP and Canal +, a real dialogue of the deaf.From the outset, the encrypted string against this plague tender premature and believes that she wants only to maintain its current offer with the big game Sunday night and three magazines. For his part, Frederic Thiriez, president of the LFP, claims that the outcome of the tender should be equal or superior to 668 million today. The economic equation is complicated: how to achieve this amount if Canal + does not put more than 460 million? The hole is potentially 200 million.

Prize Structure

"Not at all," Jean-Pierre Louvel tempers, chairman of the Union of Professional Football Clubs UCPF. "With the explosion of smartphones, the mobile may be worth lot more than the current 60 million paid for by Orange. Secondly, the LFP can make its product more attractive by improving its exposure with a game Friday night and a special day during the winter break, "he says online payday loan lenders.In fact, the LFP and the law firm Clifford Chance should put together a bid with many prizes: a match on Friday evening, a Saturday afternoon games on Saturday evening, a Sunday at 2:00 p.m. , games on late Sunday afternoon and the big poster on Sunday evening. Added to this lot and the three mobile magazines.

Canal + contends that the splitting of lots reduced the value of the whole and that the chain can not explain the matches from Friday evening to Sunday evening on the air. Above all, the group believes that the key is not lots but structuring the necessary reform of financing of French football. This can mean a reduction from 20 to 18 clubs of L1 and a lower financing League 2 which receives 19% of the amount of football rights, or 120 million euros per year.Clearly, to reduce the bill of football, Canal + offers to save on money paid to the L2 and concentrate on the manna of human L1 18 clubs instead of 20. Categorically rejected suggestions by Jean-Pierre Louvel the UCPF. "The L2 is used to form the top players and eliminate two clubs L1 would have serious consequences on the regional economy." But the big clubs, Lyon, Marseille, Lille, Bordeaux, Paris … might be tempted by a championship tighter.

The tender may thus be complicated. The LFP has put a reserve price on all lots, it might be unsuccessful. Negotiation of mutual agreement between the LFP and Canal + could then be opened. And if all lots not find a buyer, the LFP has the possibility to expose some matches on its TNT channel future pay, CFoot.This channel will be widely distributed on satellite and cable ADSL and fans can subscribe to monthly or deed.

Sarkozy the premium will not necessarily "cash"

Latest offs were made. The bill establishing the principles of the premium that Nicolas Sarkozy wants to force companies with more than 50 employees – which distribute profits up – to pay their employees is written. It should be sent next week to the State Council for approval.

The clarifications concern the concept of exact dividend taken into account. It will not be the total amount of dividends paid, but the dividend per share. The scope of company concerned has also been refined: in a group, it will be the parent. Thus, if the dividend paid by the parent increases relative to the average of the previous two years, all the subsidiaries and dependent must pay the premium. They display or not benefits rise.For groups present in France but whose head office is abroad, the measure will apply to employees in France so the "highest parent situated on French territory" has increased its dividend.

Another clarification: it is possible, by collective agreement, to offer employees something other than cash free credit report and score. The "premium" for example, could give the appearance of a surplus or profit participation, an assumption of a mutual or a bonus share issue. Only principles: the benefit must be made public (that is to say, to benefit all employees and not to certain categories), pecuniary (it must be equivalent to a sum of money) and new (it should not have been granted previously).

For the rest, nothing changes.The amount and terms of the premium must be negotiated within the company, under the same conditions as the participation or incentive. And failing agreement with the organizations representing the staff, for setting out is only for company management. No company with over 50 employees will benefit from exemptions. The premium will be exempt from normal social security contributions – but subject to 8% of CSG-CRDS and 6% social package – up to a ceiling of 1,200 euros. As at the date of entry into force: this year.

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Positive market reaction after the death of Bin Laden

Thunderbolt in the night from Sunday to Monday: in a speech from the White House, Barack Obama announced death of Osama bin Laden, killed by U.S. forces in Pakistan. The President has confirmed information from a top U.S. official relayed by several media outlets including The Wall Street Journal and The New York Times. Markets, the announcement of the death of the leader of al-Qaeda had an immediate effect: the dollar has suddenly turned upward against the euro.

The greenback is thus dropped below the $ 1.48 mark to 1.4771 dollar exactly five o'clock, Paris time, against 1.4864 dollars two hours earlier. Similarly, the greenback was trading at 81.66 yen 80.96 yen against just shortly before. The death of public enemy number one U.S. pushes investors to buy the greenback as the dollar continued to drop in recent weeks.The weaker dollar intensified since the decision of the U.S. central bank (Fed) at the end of last week to maintain unchanged its policy of very low rates.

Similarly, oil prices fell back by 1.3% to 112.39 dollars on U.S. markets. The silver prices are also falling by almost 13%. The futures contracts U.S. already announced a rise of nearly 1% of the major indices. As for U.S. Treasury bills to 10 years, they fell back by 2.4 basis points.

"A source of concern is raised in the Middle East," which has led to lower oil prices and hence an increased demand for the dollar, "said Tomohiro Nishida, operator Chuo Mitsui Trust and Banking, cited by Dow Jones Newswires. Daisuke karakami, economist at Mizuho Corporate Bank, but warned that the new did "not support the dollar long term."According to him, "the Fed policy is more important for the dollar. The dollar will remain weak against other currencies, except the yen, the Bank of Japan is also providing to keep rates very low for long.

Elsewhere, Asian markets were also buoyant. While the Chinese stock exchanges are closed on Monday, the Nikkei 1.5% advance.

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The Paris Bourse pauses

The CAC 40 will not stack with a seventh consecutive month of meeting this Friday. Or so that presage early trade. At the opening, the benchmark index in Paris begins with a decline of 0.27% to 4093.61 points.

The Frankfurt Stock Exchange is in equilibrium at 7475.22 points. In London, the markets are closed. The wedding day princely between William and Kate was indeed decreed holiday.

Investors follow the footsteps of Asian markets, Tokyo without (closed due to holiday) were very hesitant after the announcement of a U.S. growth slowed in the first quarter. In Paris as in Wall Street, many traders were yesterday conceded that the new had yet been burdened by other negative indicators.

Decline in German retail sales

For this last day of the week, risk-taking should be smaller.In addition to the marriage, the eyes will be on the expected flurry of statistics. In France, the producer price of French industry continued in March for the sixth straight month of sharp increase their movement, spurred by soaring oil prices, Insee said Friday. The increase is 0.9% from the previous month, after +0.8% in February

German retail sales fell unexpectedly in March in Germany, as consumers bought fewer groceries on the shelves and textiles in a month where inflation has exceeded 2%.

In the euro area, unemployment is on the agenda.

Then the United States, the festivities start with the incomes and household spending in February (14.30) and the Chicago PMI for April (15.45) and the index of consumer sentiment this month ( 3:55 p.m.).

Side currency, the euro remains strong against the dollar at 1.4847 dollar.Oil markets appear, they, down, worried about the state of the U.S. economy. A barrel of light sweet crude for June delivery lost 45 cents to 112.41 dollars and that of Brent North Sea also June delivery yielded 17 cents to 124.85 dollars.

Values ​​to follow

News companies should also serve markets:

Total: -0.31% to 42.87 euros

The tanker jeudila announced takeover of U.S. manufacturer SunPower solar panels in view of creating the "world leader in solar energy."The group also released Friday the results up in the first quarter, thanks in particular to the sharp rise in prices of oil and gas, but production was down by 2.3% mainly because of the Libyan crisis.

Accor: -0.46% to 30.11 euros

The group announced Friday to study a possible sale of the catering Lenôtre, as part of his refocusing on the only hotel trades.

GDF Suez: -0.27% to 27.69 euros

The group announced the launch of a new subsidiary trading on energy markets with the ambition to compete with industry heavyweights such as Barclays, Goldman Sachs, and E. ON EDF Trading

Legrand: -0.05% to 30.40 euros

The group announced the acquisition of SMS, a leading Brazilian electric inverters, in order to strengthen its position in a growing market.

Ingenico: 0.53% to 33.27 euros

The group denied on Thursday evening news reports that he would be interested in the activities of online payment from Hi Media.

Gifi: 4.23% to EUR 64

Ginestet family announced Thursday its intention to launch a simplified tender offer for the shares Gifi delist the distributor of first prizes.

Vinci confirms its objectives

Saint-Gobain: -0.56% to 46.89 euros

The group confirmed its 2011 targets after a first quarter marked by an acceleration of growth in its business thanks to the contribution of most geographic areas where it is present and better weather.

Vinci: 1.09% to 45.25 euros

The group also confirmed its full-year after a turnover up 25.4% in the first quarter, above market expectations, driven by acquisitions last year and its activities in the construction and energy.

Compagnie des Alpes: stable at 22.74 euros

The group reported Thursday a turnover up 5.8% for its first semester of the 2010-2011 fiscal year to March after a winter characterized by early snowfall.

Group Crit: 1.47% to 23.45 euros

The group again expressed confidence Thursday for earnings growth in 2011 after having posted a revenue increase of nearly 22% in the first quarter.

Saft: -2.54% to 30.47 euros

The group confirmed on Thursday its forecast for revenue and earnings for 2011 after releasing first quarter sales up 11%.

Bull: -4.91% to 4.45 euros

The group confirmed Thursday that the goals the group has set medium term, after realizing the first-quarter sales were down 0.9% to 270.8 million euros.The group also said that orders had risen to 313.8 million euros in Q1.

Fimalac: 1.23% to 29.66 euros

The group reported Thursday after the closing sales up 21.1% to 341.5 million euros thanks to the rise of nearly 17% of revenue from its credit rating agency Fitch.

Renault (-0.23% to 40.58 euros) will hold a meeting this Friday to 15 hours.

Belvedere will unveil its fourth quarter results, EDF Energies Nouvelles in sales the first quarter and Trigano its second quarter results.

When the funds will slow growth

The Figaro.fr – Can there be too many funds in the economy?

Jean-Louis Arcand – According to our work, there is a turning point from which the size of the financial sector is beginning to have a negative effect on the economy. More precisely, when the total amount of loans granted by banks to their clients, individuals like firms, exceeds 110% of gross domestic product (GDP, that is to say, the wealth produced by a country). We observed that states with the most prominent financial sectors have suffered more than others during the last crisis.

Why finance has grown as she?

During the past three decades, the U.S. financial sector has grown six times faster than the economy.If banks have grown so much is because they knew, taking risks to maximize their profits, in case of generalized bankruptcy they would be saved. Clearly, they have tended to over-lend to their clients because they underestimated the cost of a possible bankruptcy.

Should we establish by law an unsurpassable level of 110% finance?

It is useless to determine a bar impassable. This does not work, as evidenced by the European rule of a maximum debt equivalent to 60% of GDP make quick cash. It was enough that the powerful countries, France and Germany are close to this threshold so that they overcome them in the mid 2000s. Oting the same time any credibility to this political rule.

How then to control the growth of the financial sector?

Some argue that we must rein in salaries to encourage bankers to take fewer risks.This solution would not change populist: firms always find a way to reward talent. We believe it would be better that the regulator forces banks to keep their coffers sufficient financial reserves to cope with a situation of widespread bankruptcy. By increasing the so-called capital adequacy of institutions, they are forced at the same time to take fewer risks.

The current reform of the banking system, known as Basel III is along these lines …

The proposed controllers do not go far enough. The ratio of equity currently under discussion is 7%. In our view, reserves should be higher by several points to this goal. But the banks already reluctant to adopt this new threshold, saying it will reduce their profitability. This argument is not proven.

The Cac 40 also remains cautious

Back to 4000 points, it was not yesterday. Will it be for this Tuesday? The CAC 40, which resists rather well to the various crises in the Middle East and Japan, nonetheless cautious approaches slowly but surely the figure of 4,000 points. Shortly after opening, the Paris index was down 0.35% to 3963.13 points. "Too many uncertainties remain heavily to buy stocks," says Franklin Pichard, director of Barclays stock. I can not believe that the Cac 40 lasts longer. The correction is inevitable. "

The London Stock Exchange opened higher on Tuesday, the FTSE-100 index gaining 0.26% to 5920.06 points.For its part, the DAX 30 Frankfurt Stock Exchange rose 0.20% to 6952.51 points.

On the macroeconomic front:

– Expenditure on household consumption of manufactured goods rose 0.9% in February after falling 0.3% in January, mainly due to a rebound in auto purchases

– The number of starts of new homes jumped 54.1% yoy for the period from December to February, while the number of building permits for these homes increased by 25.5%

Overseas, the housing price (S & P / Case-Shiller) in January (15 hours) and consumer confidence for the month of March (16 hours).

On the podium of the largest increases include Renault (1.17% to 37.92 euros), Peugeot (0.98% to 27.80 euros) and Credit Agricole (+0.82% at 12.27 euros )

Conversely, STMicroelectronics loose 1.83% to 8.60 euros, Alcatel-Lucent lost 1.10% to 4.04 euros and Natixis was down 0.72% to 4.12 euros.

Renault: 1 no credit check payday loans.16% to 37.92 euros

A sound document released Monday by The Express reveals that Renault knew in February that the espionage case that hit was a fake scandal.

Peugeot: 0.96% to 27.80 euros

PSA Peugeot Citroen has announced a gradual return to normal of his proudction in Europe from 31 March.

Dexia: -0.35% to 2.87 euros

The rating agency has doubts about the financial health of three subsidiaries of which Dexia Dexia Credit Local.Moody's intends to degrade their notes.

Areva: -1.88% to EUR 30.50

The Supervisory Board of Areva, which was held on Monday confirmed Lauvergeon to head the nuclear expert, according to BFM Business.But the state has requested the appointment of a number two.

EDF: -0.12% to 28.66 euros

The list of new members of the board of directors of Edison, controlled by EDF and the Italian A2a could be known this week, said on Monday a source familiar with the matter.

Lagardère: +0.17% to 30.07 euros

Lagardere announced Monday the signing of the sale of its international magazine from the American Hearst, 651 million euros.

Technip: 0.14% to 73.66 euros

Technip wins contract to install subsea pipelines for the development of a field off Abu Dhabi, according to a statement released Tuesday.

Medica: 1.47% to 14.50 euros

Medica was published on Tuesday a profit of 23.2 million euros in 2010, after a loss of 13.4 million euros in 2009, and announced an increase in its activity by 15% in 2011.

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A collection of clothing scratched Nelson Mandela

The symbol becomes a claw. Nelson Mandela Foundation, which obviously would not work without the anointing of the former South African president, will launch in August, a clothing line, 46664 Apparel Line. The name of the collection is inspired by the number of prisoners (466) worn by Nelson Mandela in 1964 at the prison on Robben Island, located off Cape Town, South Africa. The hero of the struggle against apartheid has spent 27 years in prison before becoming the first president in 1994.

"46664" will appear soon be on a range of clothing for men and women in bright colors rather comfortable but which will be marketed this summer in South Africa before setting off to conquer Great Britain and the United States, probably the next year. The idea of ​​using this symbol is not recent.It was first used in London, during a concert to raise funds for the fight against AIDS.

By engaging in fashion, Nelson Mandela is a double hit: first, it raises money for his charitable works and secondly it contributes to the economic revival of the textile industry of South African problems. Already singer Bono of "U2" has taken this path by creating its range, called "Edun", intended also to provide work for African workshops fast payday loan no faxing.

Agreement with the largest garment manufacturer in South Africa

Mandela has been even greater since the agreement was negotiated with the group Seardel, the largest garment manufacturer in the country which the designers have designed the first collections.But many South Africans, however, will not afford to buy clothes "46664": about $ 26 for a t-shirt, $ 86 for a polo. For the record, Reuters said that the minimum wage of a farm worker is less than 200 dollars and a quarter of the workforce has no job …

No portrait of Mandela on clothing

Besides direct sales, the clothes will also be available via the Internet. The money raised will fund development projects in Ghana, Tanzania and Mozambique. The Nelson Mandela Foundation will receive his tithes, between 7% and 9% of turnover and a premium of about $ 143,000. No portrait of Mandela appear on clothing. His lawyers remain particularly vigilant on this point, and threaten to take him to court those who would use the famous number "46664" without informing the foundation.