Financial, Business, Personal Finance News

Paris and London exclude build together an aircraft carrier

France and Britain agreed Friday to pool some of their defense programs, including the A400M aircraft, but have ruled out building an entire aircraft carrier.

The defense ministers of both countries met in Paris to discuss their weapons programs in times of fiscal austerity that strikes the two countries.

'It is logical to examine the issues where we can share the assets rather than acting separately, "said the British minister, Liam Fox."It's a purely pragmatic."

His French counterpart Herve Morin said a series of tracks were considered, including on the A400M transport aircraft, tanker aircraft and naval assets.

On the A400M EADS, he added that cooperation would cover the maintenance, operational maintenance and possible pooling of fleets.

But he stressed that the use of common carriers was not currently planned.

Wall Street opens in the red after use in the U.S.

The New York Stock Exchange opened down sharply Friday after the release of monthly statistics of employment in the United States, generally poorer than expected.

The U.S. economy has destroyed 131,000 non-farm jobs in July, mainly because of the end of temporary contracts linked to the census, and the private sector hired less than expected.

Economists and analysts polled by Reuters on average expected destruction of 65,000 jobs.

A few minutes after the start of trading, the Dow Jones lost 0.7% to 10,600.59 points, the Standard & Poor's 500 gave up 0.72% to 1117.69 points and the Nasdaq in 2273 yielded 0.83%, 99.

The persistence of high unemployment (the rate remained unchanged at 9.5% last month) is seen as an obstacle to sustained recovery and statistics on Friday are likely to feed fears of a prolonged weak growth or a relapse into recession.

"What it mostly means is that our economy is stagnating.We are not creating jobs, or it should be the case now, "said Wayne Thomas, head of analysis at John Thomas Financial.

The statistics of the labor market may affect the speech will keep the Federal Reserve after its monetary policy meeting next Tuesday, even if the market anticipates no change in interest rates.

Among the main contributors to the decline of the Dow are industry groups such as 3M (-1.2%) and Boeing (-1.4%).

Among the few values increase in the index, gained 1.3% Kraft Foods after its results.The number one food in North America has published a quarterly profit above expectations and raised its target to reduce costs after the acquisition of Cadbury.

American International Group took over 3.5% after its own results and the announcement of the opening of discussions for an early withdrawal of the state capital.

Wall Street opening undecided

Wall Street operates on a hesitant note in early trading, pending the publication of monthly statistics of sales of new homes.

The major indexes started up after raising earnings forecasts from FedEx Group but they quickly moved into the red.

Ten minutes into trading, the Dow Jones was almost in equilibrium at 10,427.27 points, the Standard & Poor's 500 index was virtually unchanged at 1102.91 points and the Nasdaq Composite Index retreated 0.16 % to 2265.93 points.

FedEx earned more than 4% after raising its earnings forecast for the quarter and year.

Values pharmaceutical react to rumors of acquisition of biotech company Genzyme. Genzyme earned the title at 5.33% 65.85 dollars in early trade.

Finally, the BP side as New York took 2.79% to 37.89 dollars before the board meeting, scheduled for Monday evening, which could define the modalities of the departure of CEO Tony Hayward and announce his replacement by Bob Dudley, the American leader who also oversees the fight against the oil spill.

Wall Street hesitates before the start of the season results

After three days of consecutive increase, Wall Street opened Friday on a tentative note, pending results of the first companies to be published next week.

A few minutes after the start of trading, the Dow Jones fell by 0.05%% to 10,133.70 points and the Standard & Poor's 500 by 0.07% to 1069.46 points while the Nasdaq Composite advanced 0 , 09% to 2177.45 points.

If the optimism shown by State Street in mid-week its quarterly earnings outlook is considered auspicious by analysts for earnings season, investors prefer to wait for their actual publication, especially since there no important macroeconomic indicators on Friday.

The wait-market is reflected in low volumes and partly explains the volatility seen this week on Wall Street.

As for values, Boeing gained 0.12% after formally responded to the call for tender for the tanker to the U.S. Army.

Google took him 3.31% in favor of renewing its operating license by the Chinese authorities, a decision that allows the U.S. group to remain on the largest Internet market in the world.

The European Commission awarded it a satisfactory plan of Athens

The European Commission said Wednesday that the reform program initiated by Greece out of the recession and the debt crisis was largely on track.

The process of fiscal consolidation is consistent with guidelines established under the rescue plan member countries of the euro, the commission said in a report on his mission to Athens for the month of June

Brussels also awarded full marks to the advancement of fiscal and structural reforms of pensions and the site opened by the government of George Papandreou in exchange for massive financial support from its European partners and the IMF.

The report notes as well that if tax revenues were slightly below expectations, lower expenditure of the State is it more pronounced than expected.

But the Commission considers that the Greek economy suffers from a lack of competition and some macroeconomic data are incomplete.

"Although this overall assessment is positive, with an application of this program largely on track, this preliminary review has identified a number of pressure points and areas where further progress is necessary," reads the report in .

Greece, the debt crisis has shaken the euro area, negotiated a financial assistance of 110 billion euros with the EU and the International Monetary Fund and pledged in return to a policy of economic stringency in particular through a reform of its pension system adopted in late June by the government.

On Monday, Finance Minister George Papaconstantinou said he was confident his country's ability to meet its goal of reducing the budget deficit to 8.1% of GDP this year, against 13.6% in 2009.

To access the full report of the Commission, in English, double-click here

Anne Lauvergeon would be maintained at the head of Areva

President Nicolas Sarkozy has decided to keep Anne Lauvergeon at the head of Areva, said Tuesday radio France Info.

Rumors evicting Anne Lauvergeon circulating since the beginning of the year, partly because of dissension in the camp and the French nuclear setback in late 2009 with the loss of a major contract in the UAE.

The decision by the Head of State was expected. In late May, a government source had told the Echo that "exception error on his part brilliantly, it will remain until the end of its mandate" in July 2011.

Anne Lauvergeon has been appointed for the first time as President of the Executive Board of Areva in July 2001. His mandate was renewed in July 2006 and expires in one year.

Airbus booked 131 orders in first half

Airbus announced that it garnered 131 gross orders in the first half, thanks to the mega-command of 32 A380s from Emirates announced in June at the show in Berlin.

A subsidiary of EADS, which shows 117 net orders adjusted for cancellations, said it had delivered 250 aircraft since the beginning of the year, including seven A380.

The order from Emirates, which had enabled Airbus to open with fanfare the Berlin air show, however usually less prolific ones Farnborough (England) or Le Bourget, is estimated at some 11 billion dollars based on list price purely indicative.

Airbus also won 27 orders in the first half for the single-aisle A320s and 25 A350-900.On both models, Boeing has received command of the Brazilian airline TAM also announced in Berlin for 20 A320s and five A350-900s with a total value estimated at $ 2.9 billion at list prices.

The backlog of the manufacturer revealed six cancellations A330-300 in June, including two from the Finnish airline Finnair.

Airbus did not identify the company behind the other four cancellations of orders for A330s, but industry observers have estimated that Gulf Air (Bahrain,) four units could reduce its order for 20 A330s.

According to the latest data from Airbus, DAE Capital (Dubai), who said renegotiate its orders with Airbus and Boeing, has so far not received his order of 100 Airbus.

Iberia signs the merger agreement with British Airways

Iberia announced it has signed a merger agreement with British Airways, a combination that will create the world's third largest airline.

The Spanish company affixes his signature to a text that defined last April, one week after her British counterpart said it had reached an agreement to cover the deficit of 3.7 billion pounds of its pension scheme .

The transaction, which will see shareholders of British Airways to 55% of all new, must still be endorsed by shareholders, which is expected in November.

Iberia has also an exit clause for three months, always linked to its assessment of the ability of BA to the deficit of its pension system, a point already in the past failed to derail the proposed merger .

"Iberia has three months to leave the project from the time the agreement (signed between British Airways and managers of pension funds) is subject to the regulatory authority of British pensions," said Iberia.

Inflation slowed more than expected in June in Germany

Inflation in Germany slowed slightly more than expected in June according to first estimates released Monday, a move that could fuel concerns about possible deflationary risks threatening the euro area.

Consumer prices rose 0.9% yoy according to preliminary federal statistics, whereas their increase had reached 1.2% in May

Economists polled by Reuters last week had forecast an average price increase of 1.0% over one year.

This slowdown is largely due to lower gas prices, said the Federal Office of Statistics.

From month to month, inflation in Germany remained stable at 0.1%.

"The German economy appears to have avoided a deflation proper form but was still struggling to collect inflationary pressures," said Carsten Brzeski, economist at ING Financial Markets.

The slowdown in inflation in June coincided with the debate on the impact of German austerity plan on the other countries of the euro area.

Chancellor Angela Merkel presented in early action expected to generate 80 billion euros in budget savings over the next four years, in order to achieve by 2013 the German structural deficit within the limits set by the EU European.

Across the eurozone, inflation should slow to 1.5% yoy in June, against 1.6% in May

Details of the German statistics show that consumer prices calculated at European harmonized standards (HICP) remained stable in June compared to MayOn a year they show an increase of 0.8%, against 1.2% in May

These figures could provide an argument with officials of the European Central Bank (ECB) who argue for a continuation of measures to support the economy.

"We expect German inflation (annual rate) will end the year close to zero and there is some probability that it returns into negative territory," said Jennifer McKeown of Capital Economics.

"While many peripheral economies of the euro area are moving toward a long period of deflation, the ECB has every reason to maintain an attitude of a dove," she adds.

The first estimate of inflation over the past month is calculated based on published data from six Länder.The annual inflation has slowed in each of them in June

Monceau Fleurs accelerates its international expansion

Monceau Fleurs Group wants to expand its international presence and is aimed primarily Germany and Asia to boost its sales, told Reuters CEO Laurent Amar.

To support this development, the florist has launched a bond issue in May to a maximum of 12 million euros, which ends June 25 The unit amounts to 500 euros maturing in June 2015, with a coupon of 8%.

"It was rather a good home," said Laurent Amar in an interview. "The receipt of the loan shows that the financial reputation is being done.And the financial reputation is essential for the liquidity. "

Laurent Amar said it had rejected the option of a capital increase because he believes that the current valuation does not reflect his company or its doubling in size after the company acquired in 2008 Rapid'Flore nor its international success.

"As I have my heritage that is in, I refuse to dilute the value then," he said.

Laurent Amar counting on improved financial visibility to see the group increase its capitalization today of 52 million euros.

The group, which already has over 450 stores in eight countries, confirms its objective of growing its network of sales by 20% during 2009-2010, which ends Sept. 30.He added that the pace of store openings to accelerate the international over the last year.

"We went from 6% to 10% in number of stores opened abroad. It'll go faster," said group finance director, Eric Villedieu. "We aim for 1,000 stores in five years," said Laurent Amar.

The group is particularly Monceau penetrate the German market, which he estimated at seven billion euros a year against three billion to France.There is already present through a joint venture with Lagardere Services which owns 40% stake.

The company, which owns the brands Monceau Fleurs, Rapid'Flore and Happy, already extends for several years its international presence by establishing joint ventures with partners.

They have a franchise for periods of seven to ten years in exchange for a fee and a requirement to provide priority via the Monceau group.

"We went further we got from our partners to be the capital of these companies that hold rights in the country.It is quite rare to get this from its partners, "said the CEO.

ASIA, FLORISSANT CONTRACT

Monceau Fleurs said having well through the crisis because of its policy of low prices, achieved in particular through the integration of its suppliers, in addition to its innovative products like its pink bioluminescent.

The CEO also said to have benefited from the crisis to negotiate leases for new retail outlets on terms much more favorable, thereby facilitating its expansion.

Already present in Japan with nine shops, Monceau Fleurs placed on the dynamic Asian markets and their high consumption of flowers, partly due to the multitude of temples in the country to develop.

"It's part of our priorities is a market that is made for us.It would be a mistake not going there, "said Laurent Amar.

Besides the development of the network through franchises, the group does not make acquisitions as opportunities arise, but he says he remains "extremely cautious".

"In terms of developing countries, through acquisition, we do not refuse any opportunity," said Laurent Amar, whose grandfather created Monceau Fleurs in 1965 in Paris.

The group was incorporated in 1985 by the Compagnie Financiere Edmond de Rothschild.

After a degree in business law, Laurent Amar, confident that the flower industry was promising and mostly impervious to attacks, developed the network in the province from 1998 in 2002 before acquiring the company, which now holds , 38, 69% of the capital.

Monceau Fleurs, whose competitors are the Jardin des Plantes in France or the U.S. 1-800-Flowers internationally, has seen its turnover grow by 72% in 2008-2009 due to external growth, 66, 4 million euros for an operating profit (EBITDA) of 1.2 million euros.

At the Paris Bourse, the title listed on Alternext Monceau Fleurs showed a stable course Tuesday to 9.00 euros. Since the beginning of the year, he sold 17% after surging 101% in 2009.