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.
Beginning last June, when Valeo has raised its outlook for the first semester, the group's management was expecting a turnover of 4.7 billion euros (+35% compared to the first six months of 2009) and was a operating margin of 6%, a level reached more than eight years.
This optimism came after the announcement of an activity in the first quarter, up 42% thanks to a rebound in production for the automotive sector at a very low cost structure and prices of raw materials declined. The shares had risen 7.5% while then 3.5% over the two sessions that followed the increase.
This Tuesday, July 27, Valeo announces half year results even better than expected turnover stood at 4.787 billion euros (+38%).The bottom line, it passes from red to green, with a profit of 168 million euros in the first six of 2010, against a loss of 213 million euros over the same period of 2009. And the operating margin reached 6.1% against 1.5% a year ago. This is the highest rate for ten years.
The growth of automobile production has been particularly dynamic in Asia (+43%) and especially China (45%). In the U.S., the increase reached 72%! Normal, after a first half of 2009 severely affected by the fall in production and the restructuring of some U.S. manufacturers.
In Europe, sales increased 23% despite the end devices scrappage and stabilization of registrations in the first half of 2010 (+0.2% versus the first half of 2009)."This phenomenon is due mainly to the effect removal of 2009 and the increase in exports outside Europe," the company said in its financial statement.
Now, Valeo expects operating margin for the year 2010 to a level "greater than 5%.
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Vacationers should take their troubles patiently Tuesday night to Thursday early morning. These three days may indeed be synonymous disrupted air traffic at major airports of Paris and the provinces, due to a strike call launched by six unions of air traffic. Disturbances should begin on Tuesday evening and end Thursday afternoon, the time that the rotations of aircraft back to normal.
In a statement, the Directorate General of Civil Aviation (DGCA) said he had asked the airline to remove 50% of flights at the airport of Orly and 20% of those expected at Roissy Charles de Gaulle.
For its part, Air France announced that 100% of long-haul flights will be provided, and that 80% of its flights short and medium haul routes from Paris-Charles de Gaulle and 50% from Paris-Orly."We can not exclude some flight cancellations throughout the day. Delays will also be possible, "the company said, calling his passengers to see the information updated in real time on its site, under" schedule "and" timeliness of flights, or by phone at 3654 and SMS sending their flight number to 63654 (eg by typing: AF2062).
CorsairFly for its part ensures that the strike "will have no change on the flight program, also expected some delays due to disruptions related. All rotations of the company will be assured. The company also urges customers to check their flights on its website.
The DGAC said that a strike slogan added "stormy weather that could disrupt traffic".More details are expected early Tuesday afternoon.
"A passage in force"
The CGT, CGC, FOR, UNSA UNSA-IESS and ICNA-call for mobilization to denounce the European program for creating Single Sky FABEC, and the dismantling of the DGAC. They denounce as in January and February, the establishment by the end of 2010, a single air control operator for France, Germany, Switzerland and the Benelux countries. "The creation of such a body fusion will inevitably lead to the dismantling of the DGAC, the structure was considered to be efficient in terms of cost, security and service to users," say the unions. Moreover, "this merger will mean the de facto release of all or part of his personal services and the scope of the State Civil Service.
Joffrin Olivier, secretary of the National Air Traffic Controllers CGT:
The success is well meet up for the latest Apple products, the iPad. The company announced the Apple had sold more than 3 million copies of his tablet. And less than three months after its launch. In good shape Thursday, June 24 launch of the iPhone 4.
Apple has delayed for one month out of its touch pad internationally because of the huge demand in the United States, which had exceeded its expectations. Next month the tablet, which combines the functionality of a mini-computer, a player and a media player must land in nine additional countries (Austria, Belgium, Hong Kong, Ireland, Luxembourg, Mexico, Netherlands, New Zealand and Singapore).
News that support the Apple stock offering. Quoted on the Nasdaq, Apple still wins the title more than 1.63% to 274.70 dollars, close to its highest of 275.97 dollars.But analysts are beyond its record close reached in last Friday, but well below its potential, if one believes the latest estimates of analysts. For the more optimistic, and like the popular analysts at Deutsche Bank, the price of Apple stock could still earn $ 100, $ 375.
44 million iPhones sold in 2010 4
Last week, Apple and the U.S. operator AT & T, which has exclusivity on the iPhone in the U.S. have had to suspend the process of pre-orders, their system is clogged by the enormous demand, and Apple CEO Steve Jobs had to apologize.
The new multifunctional phone, especially with a high definition screen, a feature allowing telephone conversations and video editing software video, has landed Thursday in U.S. stores.Some analysts believe the iPhone will sell 4 million copies to 44 this year, 55 million units next year.
The event is sure to attract fans. The Aston Martin led the most famous British spies in the movies "Goldfinger" in 1964 and "Operation Thunder (Thunderball) 1965 will be offered at auction in London next October 27. The highlights of the annual event "Automobiles of London" jointly organized by RM Auctions Canadian houses Sotheby's and Britain, the DB5 driven by Sean Connery – James Bond aka 007 – is an over-equipped model.
It has indeed all the gadgets invented by "Q", the famous scientist in charge of research and development office of MI6 in the series.The purchaser may then take the machine gun that shoots more bullets for security reasons, swivel plates, spreaders with nails, oil, smoke, a sunroof and other shield bulletproof … The car has undergone a thorough technical inspection after several years without moving, can reach speeds of 230 kilometers per hour thanks to its 282 horsepower.
$ 12,000 in 1965
Praised by Aston Martin for the production company EON Productions during the filming, the shooting star was subsequently bought by American radio host Jerry Lee. He then paid $ 12,000 – about 9800 euros to acquire the DB5 and the famous plates "FMP 7B" internationally known.
The sum should be widely exceeded at auction in October, the proceeds will go to the charity of the current owner who works against insecurity and crime. RM Auctions think that auctions should exceed 3.5 million pounds (4.2 million euros). Christian Huet, an expert in car collection of the National Alliance of Automotive experts estimate the high court. Such sums are reached only by him on sales of car racing, and when museums are buyers. Recently a Bugatti Atlantic has been acquired for more than 20 million euros.
"An Aston Martin DB5 is generally estimated at around 200,000 euros. This version accessorised could be at least double or even 450,000 to 500,000 euros, "said the expert. A price he thinks warranted, and which the former James Bond car can be sold later."The fact it was sold in favor of an association could also drive up his price," admits also Christian Huet.
At Transport SNCF, talking about a non-event. Standard and Poor's downgraded by one notch Friday mark the long-term debt of the public company, which went from "AAA" – the highest possible – from "AA +", the prospect is stable. This means that S & P should not lower the rating further in the months to come.
The rating agency justifies this development, which will cost "several million" up interest rates to SNCF, by "the European rules that could make it more difficult in future for possible financial support" of government French in the public company as well as the opening to competition of rail passengers including his lucrative branch TGV."We believe that the most profitable activities of the station will be gradually exposed to competition," explains Standard & Poor's.
Since 1 January, the international passenger traffic is indeed officially liberalized in Europe, pending an opening to competition of domestic traffic, which is expected by 2015. For now, only Veolia announced its willingness to engage in this activity. A perspective that condemns the station eventually to lose market share.
"It remains a very good note"
The SNCF said it was prepared to such an announcement since the "perspective" was negative since September 2008. "It remains a very good score Guaranteed pay day loans.Many European states have not rated AA +, "said David Azema, deputy CEO in charge of finance and strategy at SNCF. The rating agency looks at the level of support that the station can expect from the state. The AAA rating corresponds to a quasi-automatic support in the event of default and AA + to support very highly probable. "
The company refuses to see in this a confirmation that the degradation status of public institution operating in industrial and commercial (Epic) is threatened. The S & P's decision certainly comes just after France decided to take legal action against the EU Commission, which considers the status of Epic necessarily implies an unlimited guarantee from the state, inconsistent with competition who sits in the sector.The rating agency noted that although skirmish between Paris and Brussels, but does not in itself a cause of degradation.
Conversely, the fact that the station has seen its rating lowered even though it is still an Epic could argue along the lines of the French arguments: clearly, the status of Epic does not mean the view of S & P that the situation Financial SNCF blends perfectly with that of the French state.
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Societe Generale, -6.6%, Credit Agricole, -4.9%, BNP Paribas, -4.6% … French banks weigh heavily on the Paris Bourse. The CAC 40 digs on Friday its losses (-1.8% to 3663 points to 11:00).
His European counterparts also suffer, while banking stocks enroll the largest declines, everywhere.
This reflects the renewed concern about the economic health in Europe, barely a week after the European plan negotiated the titanic last weekend. Further evidence of the uncertainty room, the euro broke the 1.25 dollar, which had not happened for 14 months. Gold coast near 1,240 dollars per ounce. Unheard-of.And oil is under $ 74 a barrel.
Banks underperforming in Europe
In Italy, while the FTSE-Eb hollow losses and was down 2.7% at 20,314 points at 10:30, the many bank stocks are at the bottom of the list: in order, loose UniBanca 4.6% to 8.1 euros, Mediobanca, 4.2% to 6.2 euros, Banco Popolare, 4% to 4.25 euros, UniCredit, 3.5% to 1.9 euro, and Intesa Sanpaolo, Italy's leading bank , yields 3.8% to 2.2 euros.
In Spain, same old story. The Ibex 35 largest market capitalizations falters 3.4% to 9639 points, and the banking sector heavyweights weigh box. Banco Santander, the second largest bank in Europe, falling 5% to 8.7 euros, and Banco Popular 4.75% to 4.7 euros.BBVA fold from 3% to 9.2 euros and 3.6% of Bankinter at 4.85 euros.
The Dax in Frankfurt, he, more resilient – the index of 30 companies the biggest German stock market down 0.45% at 6223 points. But again, it is Deutsche Bank, which is at the bottom, falling 2.16% to 49.8 euros and Commerzbank sells 2.1% to 106.8 euros.
In Belgium, KBC retrograde 3.4% to 31.5 euros and Dexia 3.25% to 3.7 euros in a market down 1.75% at 2490 points for the Bel 20. And in Switzerland, UBS depreciates 3.35% to 16.1 Swiss francs, financial group CS Group lost 3.1% to 47 Swiss francs.
The bank still frontline
Fears of a state unable to grow its fiscal power the risk of lowering its rating by a rating agency. But what are the financial institutions in a country with the largest of government securities in the portfolio.
Generally, capital financial institutions required to hold an asset also depends on the "rating" (the note) of the issuer of this title. If it deteriorates, the capital required to hold a state title will be more important.
As banks are exposed to the Spanish Treasury securities, profitability and solvency is lowered … hence the fall in stock.
Until now, the French have not felt the effects of policy, expenditure control has been conducted since 2007. For the general revision of public policies (RGPP) merely cut in the organization of the state, culminating with the non-replacement of staff on two retiring. After the controversy arose in Spring 2008 when Bercy had failed to dent the map "families," the executive had resigned himself to not touch, or marginally so, the expenses of intervention, ie policy social and wider economic (costs targeted exemptions, housing subsidies, RSA, assisted contracts …) and subsidies (crops, including transport).
Today, given the magnitude of deficits, the government changed its tune.In framing the letter he sent to all departments, Francois Fillon requires a 10% decline in value of intervention expenditure in the period 2011-2013. "To meet the target of freezing government spending-load of debt and pensions, we can not content ourselves to work on the only day operation of departments," said Baroin's entourage, the Minister Budget. In fact, operating expenses, such purchases, computers or real estate, representing less than 20 billion euros, while the operating expenses weigh 67 billion. The Prime Minister had already announced a cut of 10% within the past week payday loans. Measurement confirmed in the letter of framing.The extension of this plane to political intervention will save 6 billion more to the state by 2013.
Difficult choices
Remains now to determine exactly where the cuts will take place. Discussions between Bercy and the ministries that will lead to arbitrage mid-June, tight ahead, as the operating expenses are political. Social expenditures account for half wicket. For them, it will take "specific reforms," according to the letter of framing. Minister of Youth, Marc-Philippe Daubresse however assured Wednesday that the criteria for awarding the RIAA will not be changed. The other half of the expenditure is made up of sectoral aid.Transport (including rail network of France), agriculture, housing and culture are on the front line.
"More generally, all departments will freeze all spending," insists one at Bercy. Including, therefore, that of Defence, while the military budget law provided an increase in appropriations. But everything should be done to ensure that capital expenditure are chipped to a minimum.
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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 Securities and Exchange Commission (SEC), the U.S. stock market watchdog, said it had initiated proceedings for fraud against Goldman Sachs. The U.S. bank would have hid crucial facts about financial products affected by the subprime crisis. Fraud concerns the structuring of CDOs ("collateralized debt obligations) linked to subprime subprime.
Goldman Sachs action was immediately heavily impacted by this lawsuit.Around 17h35, the title fell by almost 14% to 160.3 dollars, bringing in its wake many financial stocks and the major world indices no fax pay day loans.
The SEC accused the bank and one of its vice-presidents, Fabrice Tourre to have misled investors by concealing important facts about the financial product concerned, while the U.S. housing market began to deteriorate.
At 15h GMT, Goldman Sachs yielded 9.7%. The KBW index of U.S. banking sector shrank at the same time 3.5% and the Stoxx European sector gave up 1.8%.
Wall Street widened its losses, the Standard & Poor's 500 yielding 1%.