Financial, Business, Personal Finance News

Peak power: Var and Alpes-Maritimes on red alert

admin — Mon, 06 Feb 2012 10:35:05 +0000

The people of eastern Provence-Alpes Cote d'Azur are encouraged to moderate their power consumption between 18 and 20 o'clock tonight. There is "a real break."

The departments of Var and Alpes-Maritimes were placed on red alert Ecowatt for the day Monday, meaning that there is a "real risk of power outage on the east of the Provence-Alpes-Cotes d'Azur, RTE has announced on its website

. While the EDF subsidiary responsible for carrying current provides a new record consumption in France for Monday 19:00, clients are asked to reduce their electricity consumption between 18:00 and 20:00. "Faced with the real risk of power outage on the east of the PACA region, all partners Ecowatt is mobilized," said RTE.

Due to the wave of extreme cold and the importance of electric heating in France, French electricity demand has surged in recent days and flirting with historic levels. RTE provides for the fateful hour of 7:00 p.m., around which electricity demand reaches its peak every day in winter, consumption of 97,900 megawatts (MW), beating the current record of 96,710 MW reached Dec. 15, 2010, according to his tracking software in real time Eco2mix.

Due to a capacity lower than elsewhere in the means of production and power lines, east of PACA and Britain are considered "peninsulas" much more vulnerable to a "blackout" electric. Interviewed on RTL, the boss of EDF Proglio said Monday morning that his group would face "in terms of production capacity," but acknowledged that the distribution system was weakened during record consumption. "I confirm that EDF will be the appointment of the electrical needs of France even in advanced today as" indicating that the electrician had "mobilized all its resources". "This is the distribution network that is involved. (…) The distribution network is made vulnerable in terms of capacity during periods of high peak and we ensure that this weakness does not result in cuts" , he said.

"These include two large areas in France who are in vulnerable situations, it is the West and South-East for reasons related to the fact that these regions, the inhabitants of these regions fairly routinely refuse capacity building routing, "he justified.

As for the Val d'Oise, where some 3,000 homes were without power Sunday night due to a failure of an underground electrical cable, Mr. Proglio assured that "the situation will be restored in the day". The Var and Alpes-Maritimes and the United Kingdom had already been placed in "risk orange" dernière.RTE recommend particular week, also to avoid using appliances, turn off the electricity in unoccupied rooms and equipment in standby mode

. French consumption had grazed his record Thursday night at 96,377 megawatts, while strongly negative temperatures and snow affect France.

European markets down slightly, investors cautious

admin — Fri, 03 Feb 2012 23:55:04 +0000

Investors continue to play it safe Friday in anticipation of monthly U.S. employment. The European stock markets opened slightly down in the wake of the fence undecided on Wall Street, the CAC 40, FTSE 100 and the DAX lost between 0, 1% and 0.3%.

The Tokyo Stock Exchange ended down after three sessions of consecutive increases.

In the Greek case, the European Central Bank (ECB) is studying how to contribute to the bailout of Greece in Athens and could make profits earned on Greek bonds it holds, by circumventing the prohibition of direct financing of the States.

Values, Volvo earns 1.8%. The Swedish manufacturer of heavy trucks has yet reported an operating profit below expectations for the fourth quarter of 2011.

LVMH lost 1.5%, a victim of profit taking after the publication of its 2011 results.

Munich Re expects a rebound in profits in 2012

admin — Thu, 02 Feb 2012 13:55:06 +0000

Munich Re has done better than expected in 2011 with a net profit of 710 million euros, supported by the positive fiscal impact of damage paid last year, and expects to find in 2012 profit levels achieved in previous years.

The annual result of the German reinsurer, before deduction of minority interests, is significantly higher than the 590 million euros expected on average by four analysts polled by Reuters, while being significantly lower than the net profit of 2.43 billion euros achieved in 2010.

"Munich Re expects for 2012 a return to results equivalent to those recorded before the year 2011," we learn in a statement.

The world of reinsurance also announced in a statement that it intends to maintain its dividend for 2011 to 6.25 euros per share.

The title Munich Re was stable around 13h00. He lost nearly 12% of its value in one year as a result of earthquakes that hit Japan and New Zealand and storms in the United States.

An agreement on Greek debt may be Wednesday

admin — Tue, 31 Jan 2012 21:55:07 +0000

The negotiations between Greece and its private creditors on debt restructuring of the country could be concluded on Wednesday, said bankers and politicians, even if a rise in the role of the European Central Bank (ECB) is now seen as imperative in the case. According to the bankers and those responsible for the sector Private is now ready to accept a discount of about 70% of Greek government bonds held by it, which should reduce the debt of some of Greece 100 billion euros. The Greek Finance Minister Evangelos Venizelos for his part said that the discount could be even higher than 70%. That said, despite its size, this discount should not, according to officials, be sufficient to reduce the debt of Greece E equivalent of 120% of gross domestic product (GDP) by 2020, ratio deemed necessary, as part of plan to help the International Monetary Fund (IMF) and the European Union to make debt sustainable. As a result, more and more people involved in the case believe that the Greek public holders of securities – the ECB and national central banks of euro area – must participate in the debt restructuring of the country, continued bankers and officials. "The analysis is done at this stage is to see what measures the public sector could take to reduce the debt of Greece," he told Reuters a European Head , to the point of discussion. "The goal is to reduce the debt-GDP ratio to 120%, but even with the exchange of debt, it is still be ; s so far the public sector involvement is necessary. " A banking source said it was now accepted that private sector involvement would not produce the desired effects without the public sector also assumes some of the losses. "Now we discuss how," she added. LOSS FOR CENTRAL BANKS sources of the ECB told Reuters last week that the ECB had paid during the year e past, as part of its controversial program to buy back shares, 38 billion to buy Greek bonds with face value of 50 billion euros. The ECB finds itself position to record a nominal gain of 12 billion euros, a sum that could be reassigned to Athens without the ECB does not suffer losses. But one European official added that this still not enough to bridge the gap – estimated at 10 percentage points – between the discount that is about to make the private sector and the goal of a debt of 120%. The ECB and national central banks in the euro area could be forced to take losses on assets held or at least to waive payment of interest. But, according to sources, the results of some national central banks would not withstand such losses. "This complicates the discussion," said a banker about this possibility. Another source said that it might be necessary for one or more central banks to raise capital to offset possible a loss. While discussions on private sector involvement culmination Wednesday – after I started there almost seven months and have been interrupted several times – the resolution of the issue of public sector involvement could still take a few days. European shares closed higher, buoyed by the hope biento t reach an agreement between Athens and its private creditors on Greek debt and after the adoption of the new Treaty of fiscal discipline. Failing agreement, the Greece could end up in default of payment, when 14.5 billion euros of bonds will mature in March.

admin — Thu, 01 Dec 2011 07:05:07 +0000

Japanese stocks ended up Thursday in the wake of coordinated action by central banks to release the funding of banks has seized up with the debt crisis in Europe.

The Nikkei gained 1.93% or 162.77 points to 8597.38 points and the Topix, broader, took 1.59% or 11.55 points to 740.01 points.

Financials have been sought. The banking index gained 1.59%. Sumitomo Mitsui Financial Group gained almost 3%.

Daiichi Sankyo has gained nearly 2% to 1,400 yen.

admin — Tue, 29 Nov 2011 13:55:10 +0000

This is what the UMP Hervé Mariton. The Liberal member for the Drôme also wish not to replace two out of three employees retiring. Manifestation officials Paris in January 2009.

The former UMP minister Hervé Mariton calls Tuesday to increase the working time of officials "without additional compensation" and not to replace, for three years, two out of three employees who retire, two against one now. The Liberal member for the Drôme this Tuesday night on behalf of his political club Reform and Modernity, 24 proposals to be the presidential debate of 2012.

One suggestion is to increase the working time of employees without additional compensation.The increase in working hours would be modulated depending on the grade: an extra hour per week for officials in grade C (lower level), two hours in class B and three hours in Category A.

Hervé Mariton also wants to go beyond the rule of non-replacement of an official two retiring, established in 2007 by the government. It offers up to two of the three officers for three years. He also wants to convert some officials to "priority tasks" and launch a RGPP (General Review of Public Policy) "local".

Among his other proposals, Hervé Mariton wants to "prohibit" any public aid to enterprises, "except for research," "decentralize" employment center and introduce "a quarter of alternation," "mandatory and paid" at the end of class first.

Italian rates soared again to 7.2%

admin — Fri, 25 Nov 2011 12:25:06 +0000

Interest rates on debt italiennent again flirt with record highs. The rate stood at ten this morning at 7.24%, close to the recent record of 9 November when it reached 7.48%.

The bond rate to ten years in Italy continued its flight Friday morning, dangerously approaching its record high, while Rome was able to borrow 10 billion euros in the markets but at astronomical rates. Around 11:45, the yield stood at 7.247% Italian, against 7.081% at the close Thursday. He had reached Nov. 9 the highest since the creation of the euro area to 7.483%.

A borrowing rate of 7% is considered unsustainable in the long term by experts for a country to be able to honor its debt. "The award has not gone well, which puts further pressure on Rome and its new government," said Cyril Regnat, bond strategist at Natixis.

admin — Wed, 23 Nov 2011 22:25:05 +0000

The overall business climate in France has again deteriorated in November, as expected, shows the monthly business survey released Wednesday by INSEE.

The composite indicator of business climate in manufacturing industry fell by two points to 95 and remains below the 100 that corresponds to the long-term average of this indicator.

All 23 economists polled by Reuters on average expected a figure of 95, with estimates ranging from 93 to 97.

The indicator of business climate as a whole, including services, construction, wholesale and retail trade, a parallel decline of two points to 93.

"The turning point indicator remains in the negative zone in which he had switched to in September.Sectoral indicators are all turning into a negative zone, "said INSEE in a statement.

The service indicator down two points to 92.

admin — Tue, 22 Nov 2011 08:25:36 +0000

The operators of the Tokyo Stock Exchange and Osaka announced Tuesday they would merge in 2013 to give birth to the Third World scholarship, with traded securities worth about 3,600 billion dollars (2.664 billion euros) .

After months of negotiations, the operation of a $ 4.1 billion, will allow the two stock exchange operators to pool their complementary strengths in a rapidly consolidating industry.

The Tokyo Stock Exchange (TSE) controls 90% of equity trading in cash while the Osaka Securities Exchange (OSE) attracts the largest volumes of futures contracts on the Nikkei and other derivatives.

The combined value of these securities listed on stock exchanges comes behind that of NYSE Euronext (12,000 billion) and Nasdaq OMX Group (close to 4.000 billion), according to figures from the World Federation of Exchanges (WFE).

Over the past five years, mergers and acquisitions announced in the stock sector operators accounted for about $ 83 billion, the players wanting to reduce costs and diversify the face of weak revenue from the traditional trading of shares.

The TSE will offer 480,000 yen per share OSE, a premium of 14% over the closing price on Monday.

The entity formed by the merger will remain as a vehicle listing title OSE, which gained up to 5.5% after the announcement, before closing up 4.6%.

The ratio of the TSE merger valued at approximately 1.7 times the OSE, whose market capitalization reached $ 1.5 billion.

admin — Sun, 20 Nov 2011 00:05:07 +0000

The Community budget of the European Union will increase to 129 billion euros in 2012, an increase of 2% in line with inflation, according to the agreement reached Saturday morning after fifteen hours of negotiations.

The agreement is a victory for European governments, struggling with the financial consequences of the debt crisis in the euro area, rejected the will of MEPs to increase the Community budget of over 5% next year .

But by linking the progress of Community resources on expected inflation in 2012, the EU could find itself unable to meet certain expenses, prevent some European officials.