Toyota has done it again, but this time no further announcement has come offset concerns about her Prius. Not even net earnings for the third quarter … Toyota announced just before closing. In Tokyo, the Nikkei closed at a decline of 0.46%. The Nikkei lost 48.35 points to 10,355.98 and the broader TOPIX, yielded 4.59 points (-0.5%) to 911.09 points.
Crude oil prices continued their decline Thursday in electronic trading in Asia, amid declining grants and rising oil stocks in the United States, according to analysts. In morning trading, a barrel of light sweet crude for March delivery retreated 17 cents to 76.81 dollars, while that of Brent North Sea at the same maturity, lost 30 cents to 75.62 dollars .The crude inventories rose in the U.S. for the third straight week, by 2.3 million barrels – indicating a falling demand – while the market expected them to remain unchanged payday loan lenders .
As Toyota (-3.53%) and its subsidiaries are also affected by the distrust: the supplier Denso has dropped 6.26% and assembler Toyota Auto Body 1.08%. The automaker announced it would recall over 180,000 vehicles in Great Britain to redress the problem of accelerator that has been forced to go along with millions of cars worldwide, Thursday reported several British newspapers , mentioning the mark.Immediately after closing, Toyota has nonetheless announced a net profit of 153 billion yen (1.16 billion) against a loss of 164.7 billion yen (1.25 billion euros) per annum passed over the same period the group has raised its forecast Better Canada under its fiscal year.
"Venezuela: a devaluation at high risk
The devaluation of the Venezuelan currency, announced January 8, will have an impact of around 40 million euros on profit before tax and non recurring items of the group in 2009 and approximately 15 million euros on profit current net after-tax, said Accor in a statement. Despite this impact, the Group maintains its objective of profit before tax and non recurring items of between 400 and 450 million euros for 2009. Accor is present mainly in Venezuela through its prepaid service activities (luncheon vouchers, preloaded maps, gift certificates).
Venezuela on Friday announced the devaluation of the bolivar. The currency, whose exchange rate was 2.15 to one U.S. dollar, now trades at 4.30 to the dollar.
Last October, the fourth global hotel group confirmed its financial targets in 2009 but expressed cautious for the year 2010.
Accor will publish its turnover in 2009 January 19 next.
The Accor share price closed Monday down 0.63% to 37.59 euros while the CAC 40 lost 0.05% to 4043.09 points.
The decision should not intervene before the first quarter of 2010. A consortium of South Korean and U.S., led by the public company Korea Electric Power Corp., won a contract for $ 20.4 billion to build nuclear plants in the United Arab Emirates (UAE). The latter will thus become the first Gulf Arab country to generate electricity by nuclear energy.
The agreement was signed in the presence of President of UAE, Sheikh Khalifa Al Nahyan, and his South Korean counterpart, Lee Myung-bak, visited Abu Dhabi on Sunday, said the official news agency Wam.
The winning consortium includes, in addition to KEPCO, the South Korean companies including Samsung, Hyundai, Doosan Heavy Industries, but the U.S. group Westinghouse and Japan's Toshiba.It will include the support "of the design, construction and support the operation of four nuclear power plants" of 1,400 megawatts each, according to a statement from the UAE Agency of Nuclear Energy, Emirates Nuclear Energy Corporation ( ENEC), quoted Wam.
In competition with a French consortium
In Seoul, the South Korean Ministry of Economy said that the consortium led by KEPCO has signed a contract worth 40 billion dollars in total, adding that besides the $ 20 billion announced Sunday in Abu Dhabi, a second contract 20 billion dollars would follow for the operation of these four plants.
A UAE official said however that "a contract for the operation of four nuclear power plants has not been assigned yet", referring to the second tranche of 20 billion dollars.
The South Korean consortium, which consisted originally KEPCO, Samsung and Hyundai, was competing with a French consortium led by EDF, GDF, Areva and Total and US-Japan alliance consisting of General Electric and Hitachi. The French had originally been donated favorites. The tender was for the construction of two to six nuclear reactors of the third generation in the richest of the seven members of the federation of UAE. Contacted by Figaro.fr, Areva refused to comment at any time.
Construction should begin in 2012 and "the first reactor will be operational in 2017, had then said the Director General the ENEC, Mohamed Al-Hammadi.
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. "
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.
"AIG is a burden for America
"We are delighted with the results for the quarter and year. The Apple CFO Peter Oppenheimer, has reason to be satisfied. The group of computer and multimedia has announced a net profit up sharply on the year, from 18% to 5.704 billion dollars for the year, with an acceleration in year-end. In the fourth quarter, the increase has indeed reached 46.5%, which is well above expectations analystes.Le group's president, Steve Jobs, also expressed his satisfaction. For him, the results equally well ahead in the coming months, with "a very solid line for the holiday season and really great products in preparation for 2010.The group, however, known for his prudence, posting predictions and equally good for the current quarter, with sales and should be between 11.3 and 11.6 billion dollars, with earnings per share is expected between 1.70 and $ 1.78.
Mac sales support activity
In the past quarter, the turnover has exceeded all expectations, rising 25% yoy to 9.870 billion dollars, is also beyond the expectations of analysts. Mac sales, which reached the 3 million computers (+17% yoy), helped offset the slight decline in sales of iPods (10.2 million units, -8%) and weaker growth in sales of iPhones (7.4 million units, 7%).For the year sales, despite the crisis, grew 12.5% to 36.537 billion dollars.
Thus, current earnings per share was well above expectations at $ 1.82. Over the year it reached U.S. $ 6.29, against 5.88 expected. The Apple stock jumped 6.29% to 201.80 dollars in electronic trading after the close of business.
"Apple is preparing the digital book revolution