Financial, Business, Personal Finance News

Quiet day on Wall Street after a robust year

U.S. markets recorded increases in 2010 over 10% after a final session on Friday without much change in trade volume reduced.

The S & P 500, gaining 12.8% over the year, had its best December since 1991, with an increase of 6.5% over the month. It closed Friday down slightly from 0.02% to 1257.64.

The Dow Jones industrial average finished Friday up 0.07% or 7.80 points, to 11,577.51. His earnings for the year reached 11%.

The Nasdaq Composite fell 10.11 points (-0.38%) to 2652.87, which leads on year increase of 16.9%.

The meeting was marked by low trading volume.Investors were rare and unwilling to take risky positions on the eve of New Year's Day.

The Nasdaq has been affected by a sharp decline as Netflix, which fell 2.28% Friday after gaining 220% over the year.

The title of the power producer Dynegy has lost 1.23% to 5.62 dollars, after the support from its board of directors for the cash offer of $ 665 million launched by its largest shareholder, billionaire Carl Icahn.

Dow Chemical fell 0.32%, after filing a lawsuit against its subsidiary Rohm & Haas by the German fertilizer producer K + S

K + S believes that it overpaid for the acquisition of Morton Salt Division of Rohm & Haas and is seeking compensation.

Public service: how the government wants to fight against insecurity

The non-permanent staff in CDD CDI will pass more easily. And those on permanent contracts will pass specific examinations to be appointed permanently.

Secretary of State for Public Georges Tron has announced the creation of specific competitions to non-licensees in the Public Service Commission, in an interview published Thursday by Voices, while a bill is expected in the first quarter.

"We're going to have competitions for the benefit of specific professionalized non-permanent staff on permanent contracts, which will value the experience, irrespective of degree," said Tron. "These recruitment procedures will be strictly limited: it is about recognizing the indisputable competence of agents holding permanent jobs, not to devalue or circumvent the competition," he added.

The first objective of government is to "facilitate the transformation of CSD in CDI when agents do not hold permanent jobs," said Secretary of State, the second being to "facilitate access to tenure."

Mr. Tron recalled, however it was not enough to launch an "umpteenth plan tenure. "There were sixteen since 1946 and has been proven that it does not work," he said, recalling that "all contractors are not in a precarious situation" and have "the opportunity to spend competitions.

The government will also seek to reduce delays in the unemployment compensation out of contract, confirmed Mr. Tron. A circular to remind ministers that "contractors who are no longer required to obtain certification quickly allowing them to apply for rights to unemployment."

The state will also "offer an employment center management agreement so that it is always public service employment that pays benefits. Employment center will then ask the reimbursement to the state when it appears that the burden of such compensation falls within the administration, "he added.

"Today, we lose time to determine who should pay according to the career of anyone," said Tron. Secretary of State for Public Service also wants to "prevent the diversion, frequently by some employers," the 2005 law that allows for a permanent contract after six years of seniority. "We propose that the age of six years can be justified over a period of eight years and therefore possibly in batches. This improved access to the Commission will first benefit the staff in categories B and C, I think in particular the territorial public service, "he added.

European shares close an changed little in Paris sells 0.09%

European markets were closed without scoring strong trend Tuesday, a day marked by low activity still hampered by the absence of a listing in London, where the stock exchange was closed.

Trade volumes in extremely low – only 25% of the average daily trading on 30 days – the markets have broadly offset some losses from the previous day.

The pan-European FTSEurofirst 300 index finished up 0.25% and remains well on track to record its best monthly gain since March.

But the big squares in Frankfurt and Paris ended respectively with notes stable (+0.02%) and a very slight decrease (-0.09%).

Analysts note that the macroeconomic uncertainties prevent the equity markets tend to evolve a more frank.

In Paris, the most notable increase came from Alcatel-Lucent, pulled upward by the announcement of a settlement with the U.S. court to settle a case in which the supplier was accused of corruption.

The Alcatel share closed up 1.85%. In the wake of the telecom equipment maker Ericsson has been 0.39% and 0.71% ASML.

Beijing greatly increases the minimum wage

After a dramatic rise in August, the Chinese capital will raise the wage floor by 21% in 2011 according to the Xinhua news agency.

The minimum wage in the Chinese capital will increase by 21% next year, announced Monday the official Xinhua news agency, a sign that labor costs in the second world economy will grow strongly again in 2011.

Beijing will raise the floor wage of 200 yuan to 1,160 yuan per month (about 133 euros) as of January 1, after an increase of 20% six months earlier, told the news agency.

Cities and provinces across the country have regularly raised the minimum wage over the last decade, but these increases have risen sharply since last year.

The economic rise of China extends further to the hinterland and the different regions came into the competition to attract a workforce that is increasingly rare.

The Chinese capital will also increase the amount of pensions for retired workers of 10.2%, 2.268 yuan (260 euros) per month, Xinhua said.

The country's top leaders have repeatedly promised they would increase the labor share of national incomes to boost domestic consumption.

Wage growth contributes to inflationary pressure, but productivity has risen faster in most sectors and labor costs are much lower than in developed economies.

Unemployment started to rise in November

After declining in October, unemployment in France is again on the rise in November, a move that particularly affects more than 50 years, show statistics released Friday by the Ministry of Labour and Employment Centre.

The number of jobseekers in category A, which includes persons without work and actively seeking work, rose by 21,300 (+0.8%) last month in France, to 2,698,100. It erases and its decline the previous month.

Compared to November 2009, it is up 2.0%.

Adding job seekers engaged in a Pool (Class B and C), the numbers of unemployment in France is up 0.8% in monthly in October (33,600 persons) 4,019,100.From one year to another, they displayed an increase of 5.0%.

Commenting on these figures, the Labour Minister, Xavier Bertrand, highlighted the "stabilization" in the number of job seekers for six months.

"The second half of 2010 has made it possible, despite a still fragile economic recovery, stabilize the number of jobseekers," he said in a statement.

In fact, the number of jobseekers in category A is virtually unchanged from that recorded in late June (2.691 million).But the sum of categories A, B and C displayed up 60,600 (+1.5%).

"MOBILIZATION" OF GOVERNMENT

"The mobilization of the government for employment will continue unabated so that 2011 is the year of significant decline in unemployment," said Xavier Bertrand, recalling the priorities of the President and the Prime Minister on the matter "young, low-skilled employees, the employees having been made redundant and long-term unemployed.

The latter, listed in job center for over a year, late November was 1,502,800, a figure up 21.5% over the same month of 2009.

The rise in numbers of unemployment in November was greater among those aged 50 and over: the rising number of job applicants in category A is 1.4% of one month to another for this category , against 0.7% for age 25 and 0.6% for 25-49 years.

In one year, the number of "senior" in job search class A shows an increase of 15.4%.

Including categories B and C, the rise in the number of job center reached 1.7% compared to October in 50 years, and 16.1% year on year.

The situation is improving, however, for young people: the number of job seekers under 25 years category fell 7.0% year on year in November to 437,800, even if it increases by 0.7% from October.

Nicolas Sarkozy has asked the government to give priority to the alternation and learning to promote the integration of youth in the labor market.

The monthly employment statistics do not include encryption in the unemployment rate: it is no longer published as a quarterly.

It remained unchanged in the third quarter to 9.3% in France and 9.7% including the overseas departments, after two quarters of decline.

Thales considers realistic objectives of the strategic plan of 2009

The objectives of the "performance plan" unveiled a year ago by Thales are "realistic," said CEO Luc Vigneron in an interview with the Financial Times on Thursday.

The specialist defense electronics, aerospace and security introduced in December 2009 a five-year plan through a reorganization of its divisions and by which he meant in particular generate 1.3 billion euros of gains productivity by 2014.

"I agree with the market when it believes that achieving these goals is not obvious," said Luc Vigneron UK financial daily."But what are realistic goals."

The CEO of Thales has however refused to deliver new mid-term goals, a request investors to attempt to measure the progress of the plan.

"This is an in-depth work (…) that can not be solved in one year," he added. "We can not wave a magic wand that everyone understands."

Luc Vigneron also indicated their wish to see the share of services in high-margin sales of the group to 25% against 16% today, without elaborating.

Thales confirmed last month its financial targets for 2010, namely a stable overall turnover from 12.8 billion euros in 2009 and an operating margin of between 3 and 4% after restructuring.

Lagardere to sell its magazines about international

Lagardère is about to take the decision to sell its international magazines to one of two interested candidates, American or German Hearst Bauer, it was learned Tuesday of source familiar with the matter.

The sale will bring 600 to 700 million euros, says one.

"This is a two-horse race and it is relatively close to the end of the race," says one.

Lagardere is the world's leading consumer magazine publisher with 212 titles in 45 countries, 42 international editions of The Women.

Since 2007, he urged a refocusing on its strategic assets, including its division by selling regional daily press.

IMF doubts the deficit target of Ireland in 2015

The International Monetary Fund (IMF) reported on Friday that Ireland was facing significant risks that could affect its ability to repay financial assistance paid to him and he thinks it will not reach its target of reducing its budget deficit to 3% of GDP by 2015.

The IMF has published these comments the day after its approval for a loan of 22.5 billion euros in Ireland as part of an overall aid plan of 85 billion euros developed with the European Union.

"We think the pace of recovery will be modest. The downside risks are significant because of the deflationary trends, balance sheets stretched …", said the IMF in a report."There are significant risks to the program that could affect the ability of Ireland to repay the Fund," he said on December 8, outlining an assessment of risks associated with Ireland.

The European Union has brought to Ireland until 2015 to bring its deficit below the maximum permitted limit of 3% of GDP but the IMF forecasts a deficit him in 2014 of 5.1% and 4.8% in 2015, if no additional fiscal measures are taken.

He however said that the Irish economy was likely to stabilize and take the road to recovery next year, from a growth rate of -0.2% in 2010 to 0.9% in 2011.It is also banking on an average growth of 2.75% over 2012-2015.

The IMF also said that although Ireland has taken important steps to strengthen its banking system, "vulnerabilities remain high".

These pessimistic statements involved the same day as the lowering of five notches by Moody's rating of the country's debt to Baa1 with a negative outlook.

The IMF stresses that the threat of contagion from Ireland is important and that political risk remains significant in Ireland. The elections should be held in February or March may well be a new majority in power who intends to renegotiate certain terms of international aid, notably by sharing the burden of the bailout to certain bondholders.

Juncker said the project challenged 'euro-bonds

The president of the Eurogroup Jean-Claude Juncker, said on Thursday in the French daily Liberation's draft "Eurobonds" stressing that it is not the whole pool but only a portion of the debts of States members of the eurozone.

"We do not propose to pool all the debts of all member states of the euro area, but to determine a percentage (of the debt would be financed by the Community obligations)," said Luxembourg Prime Minister in an interview published a few hours before the start of an EU summit in Brussels.

"In other words, the heavily indebted countries continue to be financed mostly with domestic bonds whose interest rates will therefore be higher," he adds.

The idea of issuing bonds of community, revived by Jean-Claude Juncker and Italian Finance Minister Giulio Tremonti, faces opposition from Germany and France, who see a danger of "disempowerment" States.

"With these 'Eurobonds' weaknesses in Europe would not disappear, but instead to propagate throughout the world.And no more pressure is exerted on the indebted states to hand over their budgets in order, "Merkel reiterated in an interview published Thursday that the newspaper Bild.

Jean-Claude Juncker, who notes in passing that his initiative had "no disruption to financial markets", believes that this mechanism would encourage Member States most indebted "to do anything to reduce their debt in order to submit the their total debt to more favorable treatment of Eurobonds.

The initiative has not been placed on the agenda of the EU summit taking place this Thursday and Friday in Brussels, but should lead the discussions behind the scenes.

"I understand that Germany refuses to pay for others," said Jean-Claude Juncker, who quickly adds that "it is not clear that the interest rate on bonds raised together are higher than those enjoyed currently France, Germany and Luxembourg.

These Eurobonds, says he would also "non-European capital drain in Europe." "It is still amazing today the European capital migrate to the United States, whose fundamentals are worse than ours, however, because there is a large U.S. bond market highly liquid."

Fiat allowed to rate its subsidiary Fiat Industrial

Fiat on Tuesday received the green light from the Italian Stock Exchange to rate separately its subsidiary Fiat Industrial, as part of an ambitious program of upgrading the industry group.

The Italian group, which owns 20% stake in Chrysler, plans to split its automotive division's branch specialized in industrial vehicles and agricultural equipment.

The first transactions on the subsidiary, called Industrial Fiat, will be held January 3.

The truck manufacturer Iveco and specialist agricultural equipment and construction equipment, CNH Global will operate under the subsidiary.

Each shareholder of the Fiat group will receive a title for each Industrial Fiat Fiat shares they already own.

Analysts said the transaction should allow Fiat to acquire value. The action is also mounted to the split, which also augurs new mergers and acquisitions.

Last week, the title Fiat rose to a high of 30 months after the farm equipment manufacturer expressed interest Agco CNH.