International Business News

Manitou in the first half is expected to reach its growth target of 15% of sales through an order book expanded, says CEO of the group specializes in forklift elements observers, although it remains cautious about the second half.

The group, which designs equipment for the industries of construction, agriculture and industry, had said in October that it expected growth in sales between 10% and 15% of the whole year.

"For the first half, I think 15% is almost acquired since, again, it is largely conditioned by the order book we have today in the hands," said Jean- Christophe Giroux, in an interview with Reuters. 

"The real question is what will happen in the second half and if the activity will slow or not by then," he added. "We can say that it will or may slow down if for example there was a real credit crunch."

Jean-Christophe Giroux has also confirmed its target of achieving a double digit operating margin in 2014-2015, a period when the turnover is expected to reach one billion from 1.6 to 1.7 euros, against 1.1 billion last year.

Manitou, which is to rival the French and American Haulotte Caterpillar, said in January this year wish to review in depth the organization to improve operational flexibility.

"We feel that we simply are not effective or efficient in our own industrial or operational management," commented Jean-Christophe Giroux. 

According Manitou, farming should improve and could become the fastest growing market this year, generating 45% of turnover, while the construction is affected by the uncertain economic environment in Europe.

"The construction remains depressed in many countries, there is almost no activity in Spain or Portugal, or even in Italy," said Group CEO.

The title Manitou increased 50% since the beginning of the year, bringing its market capitalization to around 700 million euros.

France prepares to beat Thursday's record consumption of electricity and gas. Blame the intense cold that strikes the Hexagon. Y there is a risk of blackouts? Cars are blocked due to the snow at Saint-Arnoult-en-Yvelines toll near Paris December 8, 2010 as winter weather and freezing temperatures sub-continuous in France. (FRANCE – Tags: ENVIRONMENT TRANSPORT)

The cold wave that moved to France will intensify in the coming days, but so far, "no major blackouts are to be expected" reassures Herve Mignon, Director of Economy, Planning and transparency in TEN (a subsidiary of EDF). In total this Thursday, 41 counties are in orange alert "cold and snow", until Saturday, 7 am. Level 3 Plan "Extreme Cold" was triggered in Isere, Savoie and in the Oise and the North. "It is seven degrees below seasonal averages of both north and south," said the forecaster Meteo France Dominique Raspaud. A cold that will become even stronger to the end of the week throughout France. For Friday, says Ms. Raspaud to AFP, "is expected within 5 to Marseille in the south-west, at least 6 Bordeaux and La Rochelle, below the minus 10 in Alsace, France-Comté and Rhône Alps "… Even in Britain, a region often spared the extreme temperatures are expected least 1 or less 2 Friday morning in Brest.

Consumption soaring …

The latest forecast of RTE, EDF subsidiary that manages the French high-voltage network, the national electricity consumption would reach 95,500 megawatts (MW) this Thursday at rush hour, at 19h, grazing and the peak total of 15 December 2010 (96,710 MW). After a hard day following the historic summit next Monday could be exceeded, providing RTE for now peaked at 98,700 MW that day. However, an estimate will be refined at the mercy of weather bulletins France. The reason for the runaway? The cold wave which pushes the Hexagon shiver the French to run their electric heaters at full speed. "During cold spells in winter, when there is a degree Celsius less, this corresponds to 2,300 megawatts of additional consumption, the equivalent of twice the consumption of the city of Marseille," recalls Herve Mignon, Director of the economy, foresight and transparency in TEN.  

But … no risk of "blackout" National

"Nationally, there is no risk now, in the sense that the means of production and available national electricity imports from neighboring countries can meet the electricity consumption as expected, "said M.Mignon.

To spend the winter safely, France is indeed important to the Power Utilities. She buys from Germany and Great Britain. Belgium and Denmark can also provide electricity. Spain, if it is untouched by the cold wave, could also provide some of the energy it needs by turning to its own power base.

Increased prevention of certain departments

RTE enabled for the first time this season the device Ecowatt in both "electric peninsulas" that are Brittany and the Côte d'Azur, which were placed in "orange alert". A clear message was sent: "We invite you to moderate your consumption of electricity between 18:00 and 20:00." And for good reason, these areas suffer from a lack of internal capacity of electricity generation, and therefore rely on neighboring regions to meet their energy needs. They are located at the ends of the national grid, it creates risks of bottleneck in their diet. In the Var, 3,000 homes remained without power Thursday morning.

Some useful tips

The right temperature is 19 ° C, no more! A simple thing: go to 20 ° C to 19 ° C in the living rooms of 7% to reduce your energy consumption. In the rooms, ADEME cautions that it is better to keep a temperature between 16 ° C and 17 ° C. In case of absence, he should lower the heating and do not put them up after work. "They will not heat the room faster," said the Environment Agency and energy management. Reduce power consumption between 17h and 20h in winter. few simple actions like turning off appliances on standby, turn down the heat in unoccupied rooms, close the shutters at night, and use appliances after 20h. Companies must also participate in this national effort.

The U.S. company Spirit Airlines confirmed Wednesday an order for 75 A320 aircraft manufacturer Airbus, valued at seven billion dollars (5.3 billion) at list prices. The MoU, which was announced in mid-November at the Dubai air show, includes 45 A320neo, the enhanced single-aisle Airbus, a subsidiary of europe ; in EADS. The company has not announced the engine selected, the aircraft manufacturer said in a statement. 45 A320neo have been recorded in the order book in December 2011. The success of the A320neo, more fuel efficient, has allowed Airbus to sell almost twice as many planes as its U.S. rival Boeing in 2011, although it acknowledges that it will be difficult to keep the advantage in 2012, with the response of 737MAX, improved version of the aisle of his American rival.

Europe has not found a solution to the debt crisis likely to restore investor confidence, said Friday the European Commission President Jose Manuel Barroso, calling, as a remedy, better integration.

"The truth is that, for now, there is no response to the crisis that sovereign restore investor confidence," said José Manuel Barroso to reporters on the sidelines of a conference in Portugal.

"As long as this does not occur, we will have very serious problems and debates in Europe."

Asked about the possible role of the European Central Bank to the crisis, the President of the Commission considered that it should remain independent.

Many economists believe the ECB should act as lender of last resort for the most indebted countries in the euro area to address the crisis, or that it should resort to quantitative easing operations as do the Reserve Federal and Bank of England to support their economies.

But Germany has so far been adamant against these proposals, arguing that the ECB should remain independent and that its mandate was to fight against inflation.

"We are confident that the European Central Bank will fulfill its role as it has done so far," said José Manuel Barroso.

"Line of precaution and Liquidity" provides a credit of the member states to meet their emergency needs. This is one of the G20 commitments in Cannes.

The International Monetary Fund announced Tuesday, November 22 creating a new lending instrument to "break the chains of contagion" of financial and economic crises. The institution said in a statement that its board had given its green light to the "Line of precaution and liquidity" (LPL), which had been promised by the G20 at its summit in Cannes (South East of France) earlier this month. The TPA provides a credit of the member states to meet their emergency needs.It "can be used as a source of liquidity, allowing an agreement six months to meet the needs of short-term balance of payments," said the IMF.

This device replaces another established in August 2010, the precautionary credit line, which has a single member state, Macedonia. The difference is that the old line of credit was designed to be held in reserve, while the news is expected to eventually be used immediately. Countries that are eligible are the same: those with a crisis, and have sound economic policies and undertake to maintain. Executive Director of the IMF, Christine Lagarde, had said at the summit in Cannes that Italy could meet these criteria. To support this country, "the typical instrument we would use is a precautionary credit line.

The lobbying firm Clark Lytle & Geduldig Cranford offers 850,000 dollars to the Association of American banks to undermine media-movement Occupy Wall Street. These indignant protest against the Wall Street financial crisis behind, growing inequality and policy failures, they accuse of being subject to the bosses of finance or business. They claim to represent the aspirations of 99% of Americans, arguing that 1% of the population owns most of the wealth and is always preferred.

Lobbyists deemed related to banks, proposed a $ 850,000 plan to attack the movement Occupy Wall Street (OWS) and the politicians who would support him, reported Saturday the U.S. television network MSNBC.In a four-page memo, the Washington firm Clark Lytle & Geduldig Cranford (CLGC) propose to the Association of American banks (ABA) to conduct a "search" Occupy on Wall Street to "build a story negative" on the move , "to place in the media," and on "those who support them," according to the memo published by MSNBC. If the Democrats support OWS, "it would mean more than a temporary embarrassment for Wall Street. This can have an impact long-term political and financial companies for the heart" of Wall Street, the memo adds.

"It may be easy to dismiss OWS as a group of protesters demonstrated disordered but rather they should be treated as competing organized, highly skilled and able to work the media.

Burberry reported Tuesday a 26% increase, as expected, its adjusted earnings in the first half of fiscal 2011-2012, thanks to sustained consumption of tourists around the world, and confirmed its annual forecast.

"We remain mindful of the uncertainties and ready to respond to them," said in a statement, however, the British manufacturer of waterproof leather goods founded 155 years ago.

It posted a profit before tax and exceptional items of 162 million pounds (190 million euros) over the six months to September 30, 2011, against an average estimate of analysts polled by Reuters of 159 million.

Last month, the group announced quarterly sales exceeded expectations, saying not yet have found the slowdown in demand despite uncertainty about the evolution of global growth.

Burberry has confirmed its ambition to increase its network of outlets around 15% in the second half, including the opening of eight to ten stores in places like China and Latin America, and that a new "flagship" in Paris.

The values ​​of luxury far seem to defy the crisis, but the uncertainties in this highly cyclical, the question remains whether the growth in Asia will escape the crisis.

Theolia is now ready to consider acquisitions of wind farms with actors who would experience financial difficulties, said Friday its general manager, Fady Khallouf.

Operations could be done at reasonable prices given the current economic environment, said in an interview with Reuters the owner of the French specialist in wind, on the brink of bankruptcy in 2010 and during recovery.

"A number of actors have tried to develop parks and reaches a certain point, but are weakened by the current economic climate.We have the ability to take over projects and to accelerate, "said Fady Khallouf.

"There are a number of new opportunities from the current crisis (…) We look at a number of topics, it can be small things or things more consistent."

The uncertainties surrounding global economic conditions even strengthen the group's strategy.

"When there are economic difficulties and a number of concerns, both in terms of energy, environmental or financial, I see them as opportunities for us," said Fady Khallouf.

"The fundamentals are stubborn"

"The fundamentals are stubborn. In Europe, production capacity and an older (…) we will have to invest.Whichever way you look at the production, there will be an increase in electricity prices.From there, the wind can no longer be considered a subsidized activity but to be sufficiently close to the market price trend, "said Fady also Khallouf.

"Instead of pretending not to see and panic in a few years, I think all actors – authorities, industrial and financial – have an incentive to engage in reasoned dialogue (…), even if the energy renewables will not displace completely the traditional means."

Fady Khallouf further indicated that his group was about to welcome a new partner in the investment vehicle Theolia Utilities Investment Company (tuica), he has established with the Swiss electrician IWB Industrielle Werke Basel (IWB) to finance wind projects in France, Germany and Italy.

"We are finalizing the entry of a new actor of the same size qu'IWB (…). It is a 'utility' Europe is the 'cross-boarder", he said, considering a deal "imminent".

"This vehicle is intended to go perhaps in other European countries as opportunities (…).It has been so successful that I am asked by various stakeholders who wish to enter, "said Fady Khallouf, which emphasizes, however, at first a round of stabilization and effective launch of its business.

POSSIBLE INCOME IN 2013

Tuica, for producers and distributors of electricity, will have 100 million of capital invested and may use project finance, with the aim to invest over 300 million euros.

Held so far to 70% and 30% Theolia IWB, it will acquire wind projects with the French group, which will ensure the development, construction and operation of the life of the parks and collect a fee for each of these benefits.

Theolia has been profitable than in a single year, in 2010, the mechanical effect of the capital increase, but could generate a net profit in 2013 if the crisis does not delay some of its projects said Fady Khallouf.

"As and when we succeed in achieving the goals I set, we will also have the ability to attract more investors and in that time, the question will arise whether to increase capital or not, or some other scheme that could be to expand the investment vehicle, "he said.

"It will not arise in 2012, we have sufficient cash resources and a very healthy."

Paris and Berlin would have agreed to increase the capacity of European Financial Stability Fund (EFSF) in 1000 or 2000 billion. Paris gained 0.76%.

Despite the deterioration in the sovereign rating of Spain by Moody's, the Paris Stock Exchange was up Wednesday morning, encouraged by rumors of a Franco-German agreement on the recapitalization of banks and strengthening of the support fund in Europe. At 9:37, the CAC 40 clinching 0.76% to 3164.70 points, the German Dax gained 1.02% and 0.97% took London. Investors reacted positively to news reports on the European Financial Stability (EFSF), analysts have said Aurel BGC.

Paris and Berlin would have agreed on a plan to end the debt crisis by increasing the response capacity of the EFSF to 2,000 billion euros, against 440 billion currently, according to an article posted online by the British newspaper The Guardian. According to the Financial Times Deutschland, the German finance minister, Wolfgang Schäuble, for his part, mentioned the figure of 1.000 billion euros as the future financial capacity of the support fund.

"The important point to remember is that an agreement exists between France and Germany, which suggests significant progress this weekend," noted strategists Credit Mutuel-CIC. "However, do not expect miracle solutions that will enable us to turn the page of the crisis", they said.

Especially as the situation remains confused in the eyes of analysts.We do not have the essential piece of the puzzle, namely how the "size" of EFSF may "be increased" in 1000 or 2000 billion, and asks the broker Aurel BGC. The hope of a future strengthening of the EFSF relegated to second the blow firmly told to Spain by Moody's Investors Service on Tuesday night which lowered the country's credit rating by two notches.

According to Reuters, two senior officials of the European Union say that no agreement has yet been found. "It is naive to think we can do this kind of calculation and come up with a nice round figure of 2000 billion. It's not that simple, "said one of them.

As for values, the banking sector was up sharply, driven by any progress on the EFSF.BNP Paribas take the lead in the rating (4.21% to 31.19 euros), followed closely by Credit Agricole (2.28% to 5.03 euros) and Societe Generale (2.13% at 19 , 65 euros). Accor took 2.08% to 22.53 euros after posting a turnover of 1.62 billion euros in the third quarter, up 2.7%.

The Slovak government resigned and the main opposition party agreed Wednesday to support a strengthening of the European Financial Stability Fund (EFSF) on the occasion of a new parliamentary vote by Friday.

The leaders of three of the four parties in the coalition government met with the leader of Smer, following the rejection by members of the EFSF reform and the resignation of the government of Iveta Radicova, which was liable the vote.

Of the 17 Member States of the euro area, only Slovakia has not yet ratified the plan that strengthens the powers of the EFSF to fight against the debt crisis.The green light 17 is required for its entry into force.

The Smer, which supports the EFSF in principle, abstained from the vote, causing the development of minority government. A new vote in Parliament to be held by no later than Friday, said the leaders of the majority party, the Slovak Democratic and Christian Union (SDKU), and Smer, Robert Fico and Mikulas Dzurinda.

"We decided that during the parliamentary session (Thursday), we will work on a proposal to shorten the election period to conduct an election on March 10.Immediately after, tomorrow or Friday, we will discuss proposals related to EFSF, "said Mikulas Dzunrinda, who was foreign minister of the government resigned, at a press conference.

"With this agreement, and the laws associated EFSF may be approved either tomorrow night or Friday morning at the latest," said Robert Fico.The vote, he added, "will take place immediately after the adoption of the constitutional law on holding early elections in March 2012."

The Smer remain in opposition until the deadline of March.

The increase in lending capacity of EFSF to 440 billion represents a contribution of 7.7 billion euros in Slovakia.

"RAPID ADOPTION"

The day after the rejection of the text, the presidents of the European Union and the European Commission, Herman Van Rompuy and José Manuel Barroso, urged Slovakia to approve as soon as possible the expansion of the EFSF.

"We call on all parties in the Slovak Parliament to overcome the short-term political considerations and use the next opportunity to quickly adopt a new agreement," they wrote in a joint statement.

"We remain confident that the Slovak authorities and the Parliament are well aware of the centrality of having a stronger European support fund to preserve the financial stability of the euro area.And this in the interest of all countries have adopted the euro, including the Slovak people. "

Under pressure from its European partners, President Ivan Gasparovic, who must nominate the next prime minister, cut short a visit to Asia and is expected to return to his country Thursday.

Iveta Radicova asked Mikulas Dzurinda, the head of SDKU, to initiate discussions also involving two smaller parties in the governing coalition.

The Freedom and Solidarity Party (SAS), the fourth component of the coalition that refuses EFSF, will not take part in the new round to break the deadlock.

The Sas had refused to ratify the European level, in accordance with the position of its leader, Richard Sulik, who estimates that less wealthy countries in the euro area do not have to incur expenses for the rich as Greece .