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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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The Paris Bourse remains on guard

This last day of the week is marked by caution on the Parisian market. The CAC 40 starts the day down 0.35% to 4080.74 points, after a small rebound by 0.11% which allowed him to get closer to 4100. In London the FTSE-100 index lost 0.12% to 6012.81 points in early trade while in Frankfurt the Dax index down 0.28% to 7320.07 points.

The atmosphere on global exchanges has been tense since the speech of President Hosni Mubarak yesterday. This was expressed after 17 days of protest to announce that he transferred his powers to his vice-president Omar Suleiman, without resigning. The crowd, massed on Tahrir Square in Cairo, immediately expressed his displeasure. Further demonstrations are expected this Friday, and anger may rise a notch in the ranks of protesters from power.A situation that markets do not like.

Anticipating these developments, Wall Street closed yesterday at equilibrium, despite the publication of an indicator better than expected on the employment front. And this morning, Asian markets followed the trend.

U.S. consumer sentiment is expected

Oil markets, which also fear a contagion and disturbance on the Suez Canal, were still very tense. Crude oil prices were rising so sharply in electronic trading in Asia: a barrel of light sweet crude for March delivery gained 83 cents to 87.56 dollars and that of Brent North Sea with identical maturity took 69 cents to 101.56 dollars. On the currency markets, the euro declined to 1.3555 dollar.

Although focused on Egypt, operators should also monitor changes in bond rates in Europe, notably those of Portugal, and indicators of the day:

In France

– The current account deficit rose in 2010 to 40 billion euros, after 36.8 billion in 2009.

– Employment in the market increased 0.2% in the fourth quarter, according to consensus. 35,500 jobs were created after 19,200 in the third quarter.The increase is 0.7% over one year with a total of 109,900 jobs created.

U.S. trade balance will be unveiled in December and the index of consumer sentiment for February (first estimation).

Total and Michelin publications of the day

As for values, investors will still have enough to deal with a new set of publication:

Michelin: 2.80% to 58.68 euros

Tire group saw its net income increased tenfold in 2010 to 1.05 billion euros.Net sales amounted to 17.89 billion euros, up 21% at constant currency, driven by increased volumes of 13.4%.

Total: 0.24% to 43.58 euros

The third European oil company by market capitalization on Friday issued the results up in the fourth quarter, again driven by the rise in oil prices, and said it planned to increase its investments in 2011 to 20 billion dollars against 18 billion in 2010.

Medica: 0.56% to 14.43 euros

The group's homes achieved a turnover of 538.4 million euros in 2010, up 12.1%, a growth higher than the target and related in particular to a series of acquisitions.

L'Oreal: -5.31% to 84.75 euros

The group has turned the page of the crisis, announcing Thursday a strong recovery in its results, and announced his change of governance with the departure of Lindsay Owen-Jones from the presidency and the appointment of Jean-Paul Agon to CEO. The group also plans to make acquisitions in emerging markets, particularly India and Brazil, according to Jean-Paul Agon, CEO of the cosmetics group, in an interview published Friday in Le Figaro.

Latecoere: 1.19% to 9.39 euros

The company said 2010 sales rose thanks to strong performance allowed, especially in the fourth quarter billings to progress on some programs.

Theolia: -3.10% to 1.25 euros

The group announced a drop of 43% of its turnover, the important result of the disposal plan decided by the developer and operator of wind turbines in 2009.

Meetic: 3.24% to 16.88 euros

The leading European dating sites reported on Thursday EBITDA margin of 20.6% in 2010, in line with its objectives, thanks to the performances on the last part of the year.

SFL: -0.03% to 35.79 euros

The group announced Thursday for the Year 2010, a decline in rental revenues and operating profit but a rise in the appraised value of his assets after two years of decline.

General Health: -3.24% to 11.36 euros

The group on Thursday issued a 6% drop in operating profit during 2010, resulting from restructuring and consolidation of institutions.

Eiffage reveal sales for the fourth quarter after-hours trading.

Didier Lombard, France Telecom leaves

France Telecom: -0.25% to 16.23 euros

Didier Lombard announces leave the presidency of the telecom operator in an interview published Friday by The Tribune.

Thales: -0.36% to 26.49 euros

The CEO of the electronics group, Luc Vigneron, whose departure is mentioned in the press, assured the employees that will do anything to counter the "undermining" led by some opponents and that he be intimidated, report Les Echos Friday.

Casino: 0.07% to 71.04 euros

An arbitral tribunal has condemned the distribution group to pay the Baud family, founder of Franprix and Leader Price, 52 million of additional cash to redeem their shares in these signs.

Tunisia: "Democracy is good for investment '

The new governor of Bank of Tunisia launched in Davos, a call to the international investor confidence. Echoing one of the slogans of the protesters that led to regime change, "democracy is good for investment," Mustapha Kamel Nabli said that "the payment system works, as banks and foreign payments and there is no pressure on the exchange rate. "

He did acknowledge that some sectors such as tourism he said, are being "disorganized" because of political changes. Nevertheless he believes that the economic situation is "under control. We do not need any outside help. Our foreign exchange reserves are strong. "Deliberately adopting a technical language, this former academic who went through the World Bank, explained that "the fundamentals (economy) is good, the workforce is educated."

Asked about the country's gold reserves, he said a physical inventory has been made by a team of two internal auditors and two external auditors to the Bank. It appeared that the gold reserves held in the coffers of the institution in Tunis s raised to 5.7 tonnes, combined 1 payday loan lenders.4 that was tabled at the Bank of England. Total reserves are consistent with the actual IMF figures (nearly 6.8 tons).Contrary to rumors that the wife of former President Ben Ali would have won 1.5 tons belonging to the Central Bank, the reserves of the latter are intact.

A former executive of Ernst & Young

Mustapha Kamel Nabli identified himself as an academic, who joined the government after Ben Ali in 1990, broke away in 1995 to emigrate. He is accompanied in Davos two new ministers who have just been appointed. On the one hand, Yassine Brahim who support the Ministry of Infrastructures and Transport and other Sami Zaoui. This was until very recently a part of the auditing firm Ernst & Young in Paris, where it was established 23 years.He is now head of the Department of Computer Technologies and Information.

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Russia: France managed to sell Mistral

After many twists, Russia chose France for the supply of its warships. A joint Russian and French presidencies, released Friday, says "that after the international tender launched on October 5 for the supply to the Russian Navy in two buildings Projection and Command (BPC) Russian authorities have accepted the offer by the consortium formed by French manufacturers DCNS and STX and Russian shipyards OSK.

The offer in question provides, "initially" the joint construction of two warships Mistral.The bilateral agreement should then be extended "by making two additional units," the statement said.

According to the Elysee, "the construction of PCBs represent Russia for the French industrial DCNS and STX equivalent of 5 million hours or 1,000 people for four years, mostly in Saint-Nazaire.

"An unprecedented cooperation"

After long blown hot and cold on this issue, Russia therefore accepts the French offer payday loans for bad credit. The situation, however, were tense between the two countries since the Russian government has decided to launch an international tender. Paris, who was in exclusive negotiations, it was offended.

But moving Francois Fillon in Russia earlier this month allowed the negotiations to progress."President Medvedev and President Sarkozy welcomed the implementation of this unprecedented cooperation that will benefit the industry and employment in both countries, and illustrates the willingness and ability of France and Russia to develop partnerships in all major areas, including defense and security, "concludes the Elysee today.

This sale may make some cringe Eastern countries but the U.S. authorities. In a diplomatic telegram released by Wikileaks, the United States have already discussed a sale "inappropriate."

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Sanofi: OPA extended at the same price

As expected, Sanofi-Aventis continues in the same conditions its hostile bid made last October 4 on the U.S. Genzyme. The French laboratory which garnered only 0.9% of shares in the biotech United States after the expiration at midnight Friday for the first time, hopes to "give more time to holders of ordinary shares tender their shares to Genzyme to bid. "

New deadline brought to 21 January 2011

The new deadline is extended to January 21, 2011 at 23:59, New York time, "unless it is extended again," says Sanofi-Aventis. At 69 dollars per share, the offer values the group's pharmaceutical always Genzyme $ 18.5 billion. But the American judge that amount insufficient to launch formal talks with its suitor.In an interview, Henri Termeer, the head of the U.S. biotech estimated that $ 69 per share, the offer from Sanofi-Aventis "has no chance of success."

Disagreement on the valuation

The two parties disagree on the value of Genzyme rely mainly on the difficulties in assessing the speed with which the U.S. is recovering from serious production problems on two of its blockbuster drugs due to problems of contamination of one of its plants.

Another major stumbling block between the two groups: the estimation of future sales of its molecule Campath against multiple sclerosis.

To work around this particular problem, the boss Henri Termeer of Genzyme said he was open to the solution of the contingent value rights certificates, which allow shareholders to receive his company based on actual results of Campath an additional price, improving the offers French.Sanofi-Aventis, however, did not comment officially on this solution.

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Six months after the spill, BP profitable again

Six months after the catastrophic oil spill in the Gulf of Mexico, BP resurfaced. The British company, now led by American Robert Dudley, who succeeded Tony Hayward-English published on Tuesday a net profit of $ 1.7 billion for the third quarter. The oil giant then switches back in the green, after losing $ 17 billion in the second quarter, the largest ever endured by a British company. A financial earthquake due to provisions made to deal with the cost of industrial and environmental disaster.

BP finds the path of profits, but this performance in the third quarter is three times lower than that displayed a year ago.Similarly, BP, which has greatly benefited from the inflation of oil-nearly 10-dollars a year, far behind leading rivals traditional: in the third quarter, Shell and Total have posted net income up by 3, 4 and 3.2 billion dollars. Twice BP.

Failing to race head, Robert Dudley believes that the staff is now "on the road to recovery." The scenario of decommissioning was raised before by many observers, is no longer relevant: "The feedback that the group would be wiped off the map were largely excessive. Certainly, he had to sell assets, but they were not strategic. BP has retained its top position, especially in Russia but also in the Gulf of Mexico where the Thunder Horse field is particularly economical, "says Denis Florin, energy partner at Bearing Point no fax payday loans.In general, the lifeblood of the company were not impacted. She was particularly well defended by the British government cope with the demands of the Obama Administration. "

Disposals of assets for 25 to 30 billion dollars

BP, which plans to resume early next year the payment of dividends to its shareholders, is not the end of his sentences in the case of the oil spill. Besides the lengthy legal battle ahead, the bill climbs steadily. On Tuesday, BP said it had provisioned approximately $ 40 billion in total, including 20 billion placed in receivership at the request of U.S. authorities. So far the company has paid $ 11.6 billion, a sum covering both operations in the Gulf of Mexico and various compensations.

Given the extent of repairs, the company will continue its program of asset disposals. The stated goal is 25 to 30 billion dollars by the end of 2011. Half has already been done. On Tuesday, the London Stock Exchange, the action BP reacted weakly. It remains about 35% below its level before the oil spill.

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The Acropolis in Athens blocked by officials

The entrance to the Acropolis in Athens was closed to tourists on Wednesday morning. A banner hung at the gates: "We will not pay for your mistakes." Thirty officials from the Ministry of Culture Greek protesting against the non-renewal of 350 employees in CSD. They require Final hiring and block access to the site sporadically.

"In total, 350 people will be laid off in late October at the expiration of their contract," said an executive of their union. "We warned travel agencies that we would demonstrate to the Acropolis until 31 October. All other archaeological sites (Athens) are open. " The Greek ministry said that "the law does not allow us to renew these contracts, new jobs will be open."

Also Wednesday, the Greek Railway observed a work stoppage of three hours.A warning shot before a call to the 24-hour strike on Thursday. They are protesting against the privatization of the public railway (OSE).

The austerity plan puts the officials at the Diet. The hiring freeze was imposed cash advance to savings account. The thirteenth month's salary was cut by 30% and 60% of the fourteenth. These measures were taken along with a rise in VAT from 19% to 23% and a postponement of the legal age of retirement at age 67. In the private sector, trade unions and employers agreed earlier this summer on a wage freeze.

Since the spring and the implementation of this plan, the various professions as officials feared losing certain advantages multiply strikes. After the mass demonstrations in the spring, work stoppages have disrupted a dismal season. Air traffic controllers, marine Piraeus and truck drivers stopped work.In September, the railroad took over.

The government has not so far acceded to various demands. It follows to the letter his austerity program, negotiated in exchange for a loan of 110 billion euros from the European Union and the International Monetary Fund. Result, it was ahead of its objectives, with a reduced deficit of 31.1% over the first nine months of 2010.

Wall Street remains cautious

After the euphoria of Wednesday, the U.S. markets are more hesitant. On Thursday, the Dow Jones starts at equilibrium, up from 0.07% to 10,274 points, the Nasdaq is 0.02% at 2177 points while the S & P gained 0.09% to 1081 points.

Investors, who had relieved acueille unexpected, increase of the ISM manufacturing index yesterday also learn some good news surprise side of the job today. Entries weekly unemployment, against all expectations, declined slightly in the United States during the week to August 28, at 472 000 478 000 cons last week, according to the labor department.Economists had expected jobless claims averaged 475,000.

But at the same time, investors learned that nonfarm productivity had declined much more sharply than expected in the second quarter to post its sharpest decline since the third quarter of 2006. Productivity has contracted at an annual rate of 1.8%, instead of a contraction of 0.9% initially announced. Although expectations were counting on a decline of 1.9% over the period April to June, this review again cast doubts on the markets.

Still on macroeconomic, investors now expect industrial orders for July and the promises of home sales for the month of July.

Note that the foreign exchange market, the euro is up slightly against the dollar, but only to increase its gains amid anxiety before the monthly monetary policy decision of the European Central Bank (ECB) and on the eve the very important report on employment and unemployment in the United States. The European currency traded at 1.2824 dollars against 1.2807 dollars late Wednesday afternoon.

Burger King flies

On the side of values, the automotive sector should stand today. The month of August has actually been the worst for U.S. auto industry since 1983. Sales fell 21% to 11.47 million vehicles.Ford Motor (0.53% to 11.67 dollars) has reported a sales decline of 11%. General Motors, which is preparing an offering of securities to reduce by nearly 61% of the state capital, reflecting a drop in its sales by 25%.

Always on the side of values, the U.S. computer giant Apple (-0.18 to 249.87 dollars ù) has unveiled the updated version of its iPod portable should be very surrounded. The Apple brand has also significantly lowered the price of its Apple TV boxes, for playback on a television screen high definition video from a computer.

According to CNBC, Burger King (23.30% to 23.26 dollars) will be acquired by Capital 3G priced at $ 24 per share. The transaction is valued at a total of four billion dollars (3.12 billion euros).

Warren Buffett has filed a formal offer to repurchase its Berkshire Hataway (+0.11% to $ 81) of 19.9% stake it does not already own in Wesco Financial (0.94% to 34.31 dollars).

General Electric (unchanged at 15.01 dollars) and Westinghouse Electric (-0.42% to 361.46 U.S. dollars) could spend ten billion dollars (7.8 billion euros) in total to build two nuclear reactors in India , the Financial Express reported Thursday. Citing unidentified official sources, the newspaper said the two projects are being finalized in preparation for the planned visit in November, U.S. President Barack Obama.

HP (+0.38% to 39.36 dollars) announced Thursday it had raised its takeover offer for 3PAR (5.27% to 33.77 dollars) to $ 33 per share, valuing the company Storage Data to 2.4 billion dollars.This announcement follows the increase in supply pa Dell (-0.87% to 12.01 dollars) which offers $ 32 per share. 3PAR has responded by stating that the offer was superior to HP and that he intended to break its previous merger agreement with Dell.

Oil settles above 80 dollars

Enthusiastic. Investors in the oil markets have felt since the beginning of the week. On Monday, oil prices have soared in New York, a barrel of light sweet crude for September delivery finished with 81.34 dollars, up 3% from the previous day. He even touched 81.77 dollars in meeting the highest since May 5 last. On Tuesday, the same atmosphere: about 18 hours on the New York Mercantile Exchange (Nymex), a barrel was trading at 82.35 dollars. In London, Brent North Sea crude for September delivery climbed to 81.52 dollars.

Several elements allow the barrel to cross the threshold to higher psychological $ 80. The first of these is the weakening greenback makes dollar-denominated prices more attractive. On Monday, the euro rose to $ 1.32 during the session and on Tuesday, he stays the course: 0.42% to 1.3228 dollar to 18 hours.

Second, markets are driven by the wave of optimism that has sustained American and European markets Monday. "The global economic statistics seem quite strong," said Jason Schenker, an analyst at Prestige Economics, referring in particular to the acceleration of growth in manufacturing in the euro area, which was confirmed in July . Similarly, the increase in activity in the manufacturing sector in the United States has continued to slow in July, but less than expected.

Even the announcement of a slowdown in manufacturing activity in China has not dampened the enthusiasm of oil markets. "Investors believe that China will slow its tightening measures or increase the stimulus," said Phil Flynn of PFG Best Research.

Weather disturbances

Finally, the fear of tight supply caused by potential disruptions in production in the Gulf of Mexico to the approach of a tropical disturbance, helps push prices upward. In the middle of hurricane season in the U.S., investors keep a close eye on the weather. According to recent reports, a depression called Colin and born in the Atlantic, is currently heading west.

According to analysts, the price could go higher this week to reach 84-86 dollars a barrel. Indeed, several major statistical be published overseas, including employment figures and unemployment for July on Friday. Before that, the markets will know the status of weekly crude reserves in the United States. Investors who expect a decline of 200,000 barrels during the week ended July 30, will be determined Wednesday.

New fuss about ferries to Corsica

New onset of fever to SNCM. During one week, a dozen sailors were delayed for one hour each day the ship departs The Corsican liaising Nice L'Île Rousse. They demanded an adjustment of their pay with that of other marine company. They succeeded, and The Corsican found Thursday its normal pace.

This social movement falls at the worst time, tourist season and while the company controlled by Veolia has also lost market share in the first half. Its traffic decreased 7.1%, one of Corsica Ferries increased by 17.5%. Moby Lines, the latest newcomer, received nearly 33 000 passengers in three months.

"Our main concern is with Moby Lines are denied benefits that help the passenger, and Corsica Ferries.With the current system, they can only gain additional market share, "worries Alpozzo Frederick, Secretary General of the CGT SNCM seafarers. For the union, the welfare system to the passenger distributed by the local authority Corsican airlines operating out of Nice and Toulon is "antagonistic" to that of the public service delegation (PSD), benefiting SNCM and CMN from Marseilles. "This is not a compensation of public service but a premium for social dumping," Frederick Alpozzo ton.

Risk of losses in 2010

A report commissioned by the government pointed the problem. The ball is in the camp community Corsican. A special session is scheduled in September to review all aid to maritime transport. "SNCM is in a delicate position.She could ask to not go after the convention of CSP, which expires at the end of 2013, we recognize the Corsican Transportation Agency (CTA). Out of the red in 2008, SNCM has gained nearly 18 million euros in 2009 thanks to a gain on disposal of a vessel (26 million). The CTA believes that the company's losses could reach 20 million this year. To make matters worse, if a new DSP is launched, the agreement could exclude ferries operating at peak periods. She would come into force in 2012. Suddenly, the reduction plan envisaged by the SNCM fleet in February, dropped after the strikes of the CGT, may become relevant.

"We need things to change and we stop losing money.Either we reorganized the DSP is still there and it will be dramatic, because it will break everything, "Frederick alarmed Alpozzo who admits fear a scenario where the SeaFrance 725 employees will be dismissed.

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