Small Ship, the Breton brand founded in 1932, came under Thai flag. Thai Union Frozen Products, the world number three canned fish, the fund has bought Trilantic Capital (formerly Lehman Brothers), who had acquired in 2006 for 425 million euros. The Asian group, listed on the Stock Exchange of Bangkok, has spent 680 million euros to afford the parent company of Small Ship, MW Brands, which last year produced 448 million euros in turnover and 82 million euros in operating profit. A profit doubled in three years for steady sales.
This is a new shift for Small Vessels, remained independent for fifty years before moving in 1981 into the bosom of Heinz ketchup maker. The leader of canned tuna in France may well grow out of France."Francophone markets as North Africa could generate interest," says David Sankowicz, Secretary General of MW Brands. With five production sites (Thailand, Vietnam, United States, Indonesia), the Thai group, offers significant opportunities to MW Brands. Europe will represent over one third of sales of Thai Union Frozen Products, the opportunity to double the number of vessels in its fleet. The group may sell in France for other types of canned fish.
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Time is to digest the Paris Bourse. On Monday, the markets will deliver their verdict on the stress tests conducted on 91 European banks and published Friday after the stock market. Only seven institutions have failed, which means a respectable success rate of 92%. However, 17 banks post notes just averages. What a cool little enthusiasm. On Friday, Wall Street has shown optimistic about the outcome as evidenced by the fence in the green. But on Monday, Asian markets were more hesitant.
The response to stress tests should be the only source of entertainment markets on Monday. Indeed, any macroeconomic indicator is expected in Europe. In the U.S., the Commerce Department will release sales figures for new housing in the afternoon. As for American publications, not big ads not expected for this first day of the week.
As for currencies, the euro climbed slightly against the dollar in early morning trade: 0.05% to 1.2924 dollar.
Featured Banks
Who says interpretation of stress tests, said reaction of the banking sector. This morning at the Paris Bourse, the French banks BNP Paribas, Societe Generale, Credit Agricole, Dexia, or BPCE, parent company of Natixis, have all the attention of observers. For the Minister of Economy Christine Lagarde, have no fear: French banks have succeeded in "this difficult test with flying colors, with honors.
Sanofi-Aventis lowered its earnings forecast for 2010
Sanofi Aventis said Friday that the first generic version of the anticoagulant Lovenox was approved by the Food and Drug Administration (FDA) pay day advance.The supply of the generic, marketed by Sandoz in association with the American company Momenta began in the wake of the approval by the FDA. The news had tumbled 4.25% securities at the close Friday because the Lovenox was the second top-selling drug from Sanofi last year. In a statement, Sanofi-Aventis recalls his "reservations" about the approval by the FDA in regard to "patient safety".
The pharmaceutical group revises accordingly its earnings forecast downward, with "an evolution of the EPS of activities for 2010 of between 0% and -4% compared to 2009 at constant exchange rates. A turnaround from last April when Sanofi evoked a growth in earnings per share from between 2% and 5%.In addition, Sanofi would have views of the U.S. biotech Genzyme after the Wall Street Journal.
Fimalac was released Friday after market up its turnover by 6.9% to 443.2 million euros in the first nine months of its 2009-2010 fiscal year ending September 30.
April Faiveley Group and publish their turnover in the first half after the stock market. Icade and Klépierre unveil at the same time their interim results.
This is an ad that should delight the financial markets Friday, although it was more or less expected, after Spain was rocked by austerity. A foretaste of what awaits the European stock exchanges on Friday, was felt on Wall Street who lost nearly 4% on Thursday night, just missing to descend below 10,000 points. Unheard of for a year!
Contagion Greek-Spanish portugo
The Spanish government has significantly lowered its estimate on Thursday night growth for 2010. The Gross Domestic Product (GDP) should grow as well as 1.3% this year, against a previous estimate of 1.8%.
"The fiscal consolidation process will result in a reduction of forecast growth," said Spanish Minister of Economy and Finance Elena Salgado.The new forecast reflects the austerity measures taken by other EU countries like Greece and Portugal "which can also affect" the Spanish growth, "she added.
Unemployment exceeds 20%
Shortly before the announcement, the Socialist government of Jose Luis Zapatero adopted a decree-law providing for the implementation of drastic cuts in public spending for 2010 and 2011, totaling 15 billion euros.These measures are intended to "expedite the process" of reducing public deficits, which rose to 11.2% of GDP last year.
These new measures will have a "clear social impact," acknowledged the head of government, facing an unemployment rate above 20% of the workforce.
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Laurence Parisot is now the only candidate to succeed himself at the head of MEDEF. Her rival, Sophie de Menthon, president of the employers' movement Ethic officially confirmed on Monday morning on BFM radio that throws in the towel, not wanting to go to court to assert his candidacy. The opponent has indeed encountered a stumbling block in his plan to run for President of the MEDEF: it accuses of late payment of contributions to Medef, and therefore can not seek the presidency as announced in Le Figaro April 13 last.
"I brought a check to pay my dues Medef late, said Sophie Menthon on BFM. They told me that before I can file my application, a preliminary investigation was necessary, and that the MEDEF could not decide on my application before JuneI will not lead employers in a legal battle. "
She believes however that the Board of Medef could meet quickly to endorse its regulation, and allow it to occur. It therefore deplored the reluctance of the employers' organization to focus on his record, leaving the way open for Laurence Parisot Guaranteed unsecured personal loan.
"It's a huge strategic mistake, says Sophie Menthon. Fear has won. There was no reason not to campaign.There's more dirty linen to wash the MEDEF. "She promises to give its program and its positions by means other than a campaign.
Thibault Lanxade "will not go"
Lanxade Thibault, head of the SME Aqoba, who had called for a "primary challengers last fall, has also withdrawn from the race for President of the MEDEF.
"I will not," he said on BFM Monday. Its share was "convinced" by Laurence Parisot as the debate that he dearly wanted to be actually carried out in case of re-election of outgoing President, and he should remain internal to the MEDEF.A rally that he claims to have made "without any pressure," believing that "the unit of employers is more than ever necessary" because of the crisis.
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The green still dominates the Paris Bourse. Comforted by the end of the Japanese Nikkei up on Monday, the CAC 40 continues its momentum on Friday with an opening up of 0.69% to 4078.38 points. Last week, Paris had the key index closed up almost 2%, surpassing the 4000 points to 4050 points.
Investors are reassured by the Parisian rescue plan with Greek details, as expected, were finally unveiled this weekend. The European system, operational since Sunday, includes up to 30 billion euros in loan agreements with joint assistance from the IMF. The news caused at least boosted the euro. In morning trading, the euro is worth 1.3675 dollars, up 0.12% against the greenback.
Elsewhere in Europe, same atmosphere. The London Stock Exchange opened up 0.50% to 5799.95 points.For its part, the DAX index of the Frankfurt Stock Exchange opened up 0.54% to 6283.81 points.
On the face of macroeconomic indicators, no news likely to react to the markets is expected. Important data such as current accounts or French industrial production in the euro area, will in the coming days.
However, the quarterly publications begin Monday in France and the United States. Intel, Google, Bank of America, or General Electric are expected across the Atlantic this week. The monitor Alcoa France or Atos Origin cash advance.
The bank form
The reaction of the banking sector support plan in Greek has not made wait. The bank had suffered last week, suffering from the fears of too much involvement in the problems of sovereign debt in Europe.Credit Agricole, Societe Generale and BNP Paribas were down. On Monday, they found the strength with respective increases of 1.05% (13.43 euros), 1.59% (46.62 euros) and 1.57% (57.64 euros).
In an interview with the Journal du Dimanche, the chief executive of Publicis (-0.05% to 31.38 euros) said this weekend that the advertising investment is not expected to regain its 2008 levels by 2012.The latter also expressed readiness to re-evaluate its offer for the advertising of France Televisions, if the advertising was finally upheld.
France Telecom (stable at 17.56 euros) is being difficult in Egypt, where a court on Saturday confirmed its decision to block the bid from France Telecom on the minority of ECMS, the first mobile operator in terms of number subscribers.
According to sources close to the deal, EADS (+0.20% at 14.93 euros) will announce its position on a possible bid for the tender for the supply of tanker aircraft to the army of U.S. Air.
Alcoa (who finished the session at -3.23% on Friday) published the figures in its first quarter after market close in New York.
At 24 hours of his arrival on the market, the iPad fever is at its height in the United States. If you believe the answer to preorders which started March 12, the new creation from Apple sensation. The first stocks are already exhausted, those who have not ordered their iPad before this week will receive nine days late, on April 12. Apple, which does not communicate its presales, would not produce enough to meet demand. On Saturday, the tablet will be available in Apple stores and Best Buy, and it will get up early to get his, because the rays could be emptied before the end of the day, according to the buzz on the Internet. The wireless models are $ 499 to $ 699. It was not until the end of April if we are interested to 3G versions, the price will go up to $ 829.
They are not only two signs that are preparing to light.Speculation is also rife on the Web according to PCWorld magazine. Taking advantage of the predicted shortage, some simple pre-booking their offer to $ 100 on sites like Craigslist, others have started their iPad on eBay at $ 700 instead of 500. These deals seem even more doubtful that Apple, as usual, organized the launch of its latest gadget in the greatest secrecy. The employees, including technicians to repair the supposed object in case of failure, had still not seen the tablet this week.
5 to 6 million sales?
The bookmakers are already on their paris sales volume by the end of the year: 5 to 6 million, maybe more. To entice buyers, Apple has guided the launch eleven new iPad applications on its site, including Safari, Keynote, YouTube, iTunes and irresistible iBooks, which may well dethrone the Amazon Kindle.If even two months ago, we doubted the potential of Apple's latest invention, now we only speak of it. Advertisers flock to the advertising pages of publishers whose applications will be available on Saturday, as Time Magazine, The New York Times or the Wall Street Journal. FedEx has purchased 90 days exclusively on applications of Reuters and Newsweek.
The reviews coming out are largely positive. A few handfuls of journalists across the U.S. have played for a few days in secret with the tablet. For most, the iPad is a single iPod or eBook. The New York Times predicted that the techies will hate but the general public will love.
In any case, Apple continues to generate humor. The tablet on behalf biased in English (mean pad pad) is suitable for two months parodies the most diverse.The latest is a "tablet" Doritos (the chips). A real hit on the Facebook page for fans of the true shelf.
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After Greece, Portugal? The degradation of the note by the rating agency Fitch on Wednesday placed the country under the Lusophone market attention. But nothing is to fear the worst: Portugal is not Greece, although the weakness of its economy worries for the future.
"Comparing Greece and Portugal is really too simplistic," wrote economists at the outset of IPC BNP Paribas in a note. Take note first of the country. Greece, with a "BBB +" is two categories below Portugal, rewarded for his share of "AA-". The degradation of the note Portuguese did not, moreover, resulted in a panic on the markets.Shortly after the announcement of Fitch, the cost of insurance on the Portuguese debt increased by only 5 points early Wednesday afternoon, with 139 points, according to Markit data.
If Portugal has a higher score, mostly because its debt is less severe than that of Greece. It should reach 90% of GDP in 2010, when the Athens peak at 123.3% of GDP, according to the OECD.
Reform and credibility
The best that Portugal has maintained its accounts in large part to the reforms already carried out social security and pensions. Result, expenditures related to aging, reaching 16% of Greek GDP between 2010 and 2060, will be limited in the case of Portugal to 2.9%, calculated the European Commission. "The impact of these reforms will be felt in the future, limiting the burden of an aging population," noted economists at BNP Paribas CIB.
Having made these reforms in Lisbon has guaranteed a much greater credibility than that of Greece. Apart from a National Statistics trusted, the country should not face great opposition to social reforms, as demonstrated by the fiscal consolidation undertaken between 2003 and 2007 are essentially the economists.
Concerns for growth
The Portuguese public finances so little to do with those of Greece. But the economic prospects are not rosy, however. "Our concern is growth," says a note Gilles Moec, economists at Deutsche Bank. "We believe that the likelihood of a return to budget deficits of 3% by 2013 (against 9.3% in 2009, Ed) is low."
The country's lack of competitiveness, exports depend mainly on its neighbor Spain, very bad shape.Especially, the level of indebtedness of households and businesses has reached alarming levels, thus jeopardizing any hope of quick recovery in domestic demand and investment. According to Eurostat, household debt represented in 2008, 105% of GDP, and the business 134%. Cons respectively 61% and 62% in Greece.
"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.
"We certainly have participated in things that were not correct and we are sorry. We apologize. " This was said boss of Goldman Sachs (GS) Lloyd Blankfein, who tried to extinguish the controversy after his recent interview with London's Sunday Times newspaper in which he said that banks had "an important social "and that his, in particular, worked" in the service of God. " Remarks that he "would not have had to" speak, "he later confessed.
Apologies for the investment bank came at a time when it is subjected to a barrage of criticism. Goldman Sachs has been in effect during the first 9 months of the year the bank's most profitable and the NYSE has already provisioned 16.7 billion dollars to reward traders and executives. Approximately more than $ 500,000 in premium per employee.Astronomical sums deemed by the Americans, but that Blankfein stands by the fact of not wanting to lose his "talent due to a change in methods of remuneration."
So, trying to get closer to its humanitarian principles and the "social role" he defends, Blankfein said the bank would release $ 500 million to help 10,000 small U.S. companies. A collaborative initiative with billionaire Warren Buffett, who will co-direct the panel to oversee the entire operation.In practice, Goldman Sachs will provide annually $ 100 million, or about what he earns in a day of good trading! The Financial Times reports that during the third quarter, the investment bank has recorded 36 days during which its traders have gained daily more than 100 million dollars …
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