International Business News

The Motor Show of Geneva, which will open to the public Thursday, will be dominated by the alliance between PSA Peugeot Citroen and General Motors, the last wedding date in an industry where economies of cost and scale have become the top priority.

The question of how specific short-term reconciliation between the PSA and GM, while the strategic partnership announced Wednesday plans for 2016 the full effect of synergies and the first models of vehicles common, will be on everyone's mind at the first major European motor show of the year.

"This industrial agreement is very revealing of current changes in the automobile sector," said Flavien Neuvy, Director of the Cetelem automobile. "The manufacturers have no choice and they know they can not do everything together."

"However, to achieve such an alliance, it takes time, past experience has shown that the risk of failure is not zero," he adds. "But if it works, it is a promising project."

The last major events of the profession were all marked by the quest for synergy. The 2009 Frankfurt Motor Show had devoted the rapprochement between Fiat and Chrysler, Frankfurt 2011 was marked by the announcement of new cooperation between Renault-Nissan and Daimler. As for Geneva 2010, he remained famous for including the formalization of the collapse of talks between Mitsubishi and PSA, with which the French group was then trying to marry.

ALWAYS OFFER A VARIED DESPITE THE POOLING

In an industry marked by increased global competition, the carmaker can no longer rely only on their internal resources to develop new products both at reasonable cost and in die lais fast enough to track changes in consumer tastes and tougher safety and environmental standards.

But this sharing does not lead to a standardization provided cars because the objective is to share components and architectures invisible from the outside. 

"The Peugeot and Citroen have never shared many components and platforms industrially today, yet they have never had their own identity as distinct," observes Translation ; ois Roudier, spokesman for the Committee of French Automobile Manufacturers (CCFA).

Geneva will be, like any self-respecting lounge, a new ball with some highly anticipated world premieres such as the Renault Zoé, who spearheaded the bet electrical manufacturer.

On the stand Dacia brand Renault's low cost, we discover the minivan Lodgy including the launch of construction in Morocco has been surrounded by controversy on the theme of "Made in France ", a theme central to the presidential campaign. 

Side of the PSA, Citroen C4 unveil its compact 4×4 Aircross based on the Mitsubishi ASX, while Peugeot present the 208 through which the lion brand hopes to extend a success story started in this segment in the 1980s with the 205.

The competition will not be outdone. Another icon, the Volkswagen Golf, GTI will appear in his livery cab, and Audi, the German premium brand group, will present its new A3. Fiat's famous 500 curves take with the L variant, Italian replica of the BMW Mini Countryman.

Builders rely on these innovations to support expected sales down 3% to 4% this year in Europe, making the region one of the world where the automotive market will contract in 2012.

A motor show would not totally successful without some "supercars". Visitors can admire the 6 Series Coupe BMW Grand, the futuristic Nuccio signed by the famous coachbuilder Bertone or the most powerful Ferrari ever made, with the F12 Berlinetta not less than 729 horsepower.

After two press days, Tuesday and Wednesday, the Geneva Motor Show will open to the public from March 8 to 18.

Societe Generale on Thursday posted a profit below expectations for the fourth quarter due to increased losses in its banking activities and investment banking (CIB) of Due to the crisis in the euro area and said to remain cautious this year.

The bank said in a statement it had passed a new provision of € 162 million on government debt in the last quarter of 2011, bringing its funding to 75%, as its rival BNP Paribas.

In CIB, being restructured due to the crisis, the group posted a net loss of 482 million euros.

Its quarterly net income of spring suddenly falling from 88% to 100 million euros. 

"I remain generally cautious for 2012," said Frederic Oudéa, the bank's CEO, on CNBC. "I'm happy with the start of the year in respect of market activities."

The consensus reached by the editor of Reuters expected a profit of 190 million euros for the last three months of 2011, a drop of 78%, including a loss of only 81 million euros in the BFI.

"The dollar liquidity needs of corporate banking and investment have been reduced by about 55 billion USD in the second half," said the bank, which have added accel ; Lere disposals in its portfolio of toxic assets in the second half of 2011.

These sales had a negative impact of 524 million euros on revenues of the BFI on the fourth quarter alone. 

Wednesday, BNP Paribas has reported better than expected results in the fourth quarter. In addition to reassuring the leaders of 2012, analysts point out that the bank financing and investment of the BNP was more resilient in the crisis than its main competitors.

At the Paris Bourse, before publishing the results of the bank, title company generally closed up 2.19% to 22.38 euros. He won 30% since the beginning of the year after plunging 57% in 2011.

The leader of Conti was sentenced to 1200 euros on appeal. The CGT union had already been sentenced to a fine of € 4000 for the sacking of the sub-prefecture of Compiegne in 2009. He then refused to submit to a DNA sample.

The Court of Appeal of Amiens Friday condemned the CGT trade unionist of the old factory Continental, Xavier Mathieu, 1,200 euro fine for refusing his DNA by police.Une fine of 1,000 to 1,500 euros had was required.

The union was acquitted at trial in June 2011 by the Criminal Court in Compiègne. The prosecutor, who had requested a one month suspended prison sentence, had appealed his acquittal. "I am condemned (…), which means they can point back next week and ask me again my DNA and retry me if I refuse," responded Xavier Mathieu, graying beard, wearing a red sweater hoodie and jeans, after deliberation.

The facts date back to the conviction of Xavier Mathieu 4000 euro fine by the Court of Appeal of Amiens for their involvement with workers from Continental to the destruction of the sub-prefecture of Compiegne in April 2009. He then refused to submit to the taking of DNA fingerprinting, as required by law.

The Clairoix tire factory, where he was employed, was closed in early 2010, resulting in the elimination of 1,120 positions. In spring 2009, a labor dispute for several months, including Mr. Mathieu was the emblem-had allowed the workers to get severance extralegal.

"The worst is not fine is to be treated delinquent"

Created in June 1998 to identify DNA from convicted for sexual offenses final, the national computerized DNA (FNAEG) was extended in 2001, 2003 and 2010 to many other crimes. "This is not fine the worst thing is to be condemned, to be treated as a criminal. offenders, it is the leaders of Continental. They are not even thugs, they are criminals. I wanted that (they) are tried for the consequences of closing the box, the economic disaster on people's lives, "he told Mr. Mathieu reporters.

"We are struck by the rather categorical motivation of the court and the refusal to integrate clear and explicit refusal (DNA test) of Xavier Mathieu in the context of social struggle," said Pascal Moussy, collaborator Marie-Laure of Dufresne-Castets, counsel for Xavier Mathieu, in the absence of that ci.Estimant that the judgment of the Court of Appeal of Amiens was "regression," Pascal said that Moussy it would "look closely if it deserves an appeal." "What Xavier (Mathieu) in the same file as rapists and murderers, it is shameful," he told AFP Pierre Summoned, one of about 100 "Conti" came to support the union as it exits the court.  

"Normally, if all goes well, I would not have to go to the Supreme Court because my file will be removed from the file FNAEG (…) as if it were committed" in Amiens in the trial of the union, four candidates Left for president – Eva Joly (EELV), Jean-Luc Melenchon (Left Front), Nathalie Arthaud (LO) and Philip Poutou (NPA) – Xavier Mathieu recalled.

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.

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.

The European Commission will Wednesday unveil new rules for new rules to limit the power of rating agencies. The suspension of a rating and the attack to justice agencies include planned. Moody's in New York.

The "blunder" by Standard and Poor's comes almost timely for the European Commission. Brussels Wednesday will unveil a range of measures to regulate rating agencies, and the announcement erroneous degradation of France by S & P should increase the willingness of the European regulatory agances. Details of the measures to be adopted.

Suspend a rating

The Commission will decide to suspend the rating of a State in case of excessive volatility or if it is under European aid program. This decision can be explained by the previous in Greece.

Attack to justice agencies

Any investor can now sue an agency and ask for damages. Brussels wants to create "a European framework of liability in case of serious misconduct or gross negligence." A new measure that should appeal to France after the "true-false" degradation Standard and Poor's.

Impose a turnover in the agencies

Brussels wants to put some competition in the "Big Three", Moody's, Standard and Poor's and Fitch Ratings. The idea of ​​creating a European agency was abandoned now Brussels wants to impose a rotation to the actors who are noted. Clearly, companies and states will be required to change agencies every three years, to encourage competition between agencies. But the idea has been criticized not only by the agencies but also by some of their clients.

Allianz reported Friday a third quarter net earnings well below expectations, the financial market turbulence has sealed investment income of the first European insurer.

The German company posted a net profit of 196 million euros over the period while 14 analysts polled by Reuters had expected an average of 566 million.

Allianz has spent 931 million euros in provisions, mainly on investments in the financial markets.

The cons-performance does not deter investors to buy the title, the emphasis operators operating income.

The latter is certainly emerged down 7.3% to 1.91 billion euros, but above a forecast of 1.71 billion.We do not judge too negatively the fact that the net profit is below expectations because it was caused by a higher taxation and impairment of assets higher than expected, "said Philipp Hässler Equinet Bank.

By 10:00 GMT, taking 1.87% to 74.07 euros while the index grouping the values ​​of the European insurance advanced 0.97%.

Allianz confirmed its target of operating profit between 7.5 and 8.5 billion euros for the whole of 2011 but said that the annual net would likely be less than five billion euros in 2010.

France is the most fragile countries rated AAA. The elections also reduce the room for maneuver in terms of austerity. The France remains very solvent, judge Bruno Cavalier, chief economist at Oddo Securities. But a drop in spending is essential. The 7 World Trade Center, the headquarters address of the credit rating agency Moody's in New York. You have no doubt about the solvency of France?

No. On many occasions, the rumor current trading rooms said that France was about to lose its AAA. To date, all the rating agencies have reaffirmed that the French note kept a stable outlook. Before the elections, it is this perspective which may be changed more than the note itself. However, the situation of French public finances requires quick adjustments.In addition, the French specificity is that elections are before us.

What the next presidential election is she at risk?

Electoral constraint involves two risks. First, there is a risk of inertia or paralysis pre-election, which forced the choice of economic policy in half measures or even, as we have seen in the extreme case of the United States in malfunctions. In France, the measures announced on August 24 to put the deficit on track were chosen with the clear objective to give no pretext for the corporatism of the public to take to the streets to defend its "social gains". Almost all of the 12 billion euros in savings is to increase the tax burden in a country where government revenues are already over 50% of GDP.

Paris fell 3.16% Monday, 2.77% London, Frankfurt and Milan 3.23% from 3.82%. Bank stocks were again the victims of market concerns about the future of the euro area. European shares closed sharply down Monday, October 31, 2011.

The Paris Bourse has lived a black day Monday, October 31, losing 3.16% in a market dominated by profit taking and taken over by doubts about the future of the euro area, despite the European anti-crisis plan. The CAC 40 dropped 105.79 points to 3242.84 in trading volume of 3.35 billion euros. Bank stocks fell by 8 to 10%.

Featured dax index of the Frankfurt Stock Exchange ended down 3.23% to 6141.34 points.German banks have drunk the cup: Commerzbank dropped 8.47% to 1.78 euro and Deutsche Bank, which has suffered from over exposure to the bankruptcy of U.S. broker MF Global, 8.60% to 30.35 euros .

The FTSE-100 index of London Stock Exchange main values ​​lost 158.02 points, or 2.77% from Friday's close at 5544.22 points. The total star of the Milan Stock Exchange, the FTSE Mib, fell 3.82% to 16,017 points. Among banks, Intesa Sanpaolo dropped 7.39% to 1.291 euros, Banca Monte dei Paschi di Siena 6.16% to 0.3383 euro and 5.67% to 0.848 UniCredit euro.

The major European chemistry warned Thursday the announcement of their results as demand slowed in the construction sector, compounding their problems related to rising commodity prices.

BASF, the world leader in chemistry in terms of sales, announced Thursday a quarterly profit above expectations, but warned that its growth was slowing, clients sell their stocks.

"BASF's customers are more cautious, reduce inventory and postpone some of their orders in hopes of a possible drop in prices," explains the German group said in a statement.

The chemical sector is highly dependent on investments in highly cyclical sectors such as automotive or construction, which makes it more vulnerable to economic downturns.

In addition, the high cost of operation of its huge factories plunged the benefits as soon as the demand and the rate of capacity utilization decreases.

The slight decline in oil prices since last May, however, somewhat reduced the rising costs of certain petrochemical feedstocks.

"Europe seems to be the worst of markets.We were very pessimistic about the prospects for growth, assuming we can even talk about growth, "said Jan Hein de Vroe, an analyst at ING.

"They keep all their earnings forecasts, but they were at the base not very restrictive," he added.

OBJECTIVES LOWERED

The Belgian Solvay, which in September bought its French rival Rhodia, said the demand for vinyl and specialty chemicals had slowed, while maintaining its forecast of net profit up on its activities in plastics and products chemicals.

Rhodia also confirmed its own perspectives.The French group posted a recurring EBITDA (REBITDA) of 273 million euros against 235 million a year earlier. Its turnover was 1.67 billion euros against 1.36 billion a year earlier.

German Bayer has meanwhile indicated that its MaterialScience arm, which produces the clear plastic used for panoramic roofs coupe convertible SLK Mercedes (Daimler), this year would have an adjusted operating profit of 1.3 billion euros.

Bayer previously provided a similar result to that of last year (1.36 billion euros).The group justified the downward revision by higher prices of raw materials and energy.

Bayer, however, confirmed its outlook and published a comprehensive annual quarterly results better than expected thanks to strong growth in emerging markets.

Last week, Dutch AkzoNobel, the world leader in paints, had abandoned its 2011 profit target, involving the slowdown in economic growth and rising costs, including titanium dioxide (TiO2), a pigment white.

Tuesday, the American DuPont, which produces titanium dioxide, announced quarterly earnings higher than expected.