International Business News

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.

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 group LVMH said on Thursday replaced by Francis Morel Nicolas Beytout to the general direction of Les Echos.

Nicolas Beytout, former managing editor of business daily, was appointed in 2007 after the takeover of the newspaper by the world leader in luxury.

He became editorial writer "for all group titles," said LVMH in a statement.

After weeks of rumors about a possible departure of Nicolas Beytout, LVMH has finally passed the act, while the newspaper Les Echos recorded losses for the second consecutive year.

"Nicolas Beytout is punished for his bad management," they say internally to Echos, where writing is concerned about his appointment as a columnist.

"We know its proximity to Nicolas Sarkozy and the ethical charter signed by the shareholder recognizes the need for a non-partisan editorial in the newspaper," says one.

Les Echos journalists are scheduled to meet Friday morning at a general meeting to discuss the appointment.

The group, in addition to the Les Echos newspaper, magazine Enjeux-Les Echos, Investir, Connaissance des Arts and the station Radio Classique.

General Manager of Le Figaro from 2004 to 2011, Francis Morel was the architect of the development of internet newspaper, owned by the Dassault family, and the revitalization of its sales.

The current monetary policy of the ECB and the euro boosted hurt German exporters, said the Nobel Prize in economics. Joseph Stiglitz

The American economist Joseph Stiglitz, Nobel Prize in 2001, called the European Central Bank (ECB) to lower its key rate, in an interview published Monday in the German daily Handelsblatt. "The ECB should withdraw its previous increases" in April and July, which increased its key rate from 1% to 1.5%, said Stiglitz.

The economist, known for his critique of liberalism hardcore, says Frankfurt institution should take more account of its American counterpart, the Fed, which intends to maintain its rates at 0% for two years. "The current monetary policy of the ECB pushed the euro and hurt German exporters," he said.

Economists now expect the ECB no longer affects the rate of interest this year because of the new outbreak of the debt crisis, whereas before the institution seemed determined to further tighten its monetary policy in the fall.

Stiglitz has also reiterated its view that if the eurozone were to implode, "it would probably be better than Germany left the monetary union rather than to expel Greece."

The economist also expresses once again in favor of European bonds or "Eurobonds", "a good instrument to control the crisis."

European shares cut their initial losses Wednesday, the market favorable ruling in the long run some of the proposals of Angela Merkel and Nicolas Sarkozy to find solutions to the debt crisis in Europe, even though the idea of ​​a tax financial European banking stocks weighed on stock and operators.

Around 13:15, the CAC 40 gained 0.81% to 3257.10 points after losing up to 1.5% in early trade. Other major European markets, London and Frankfurt drops 0.44% 0.29% respectively as they have lost up to 1.5% and 2% in the morning.

"The stabilization of current European indices came after a rebound in more than 10% since the low points.This slowdown is legitimate and should not conclude that the financial community is disappointed with the meeting between Sarkozy and Merkel, "said Arnaud Poutiers, Deputy Managing Director at IG Markets France.

Of the European indices, the EuroStoxx 50 ahead of 0.31% and 0.12% Eurofirst 300 loses.

"Certainly, investors would certainly responded positively if the Franco-German couple had driven on the path of Eurobonds, but it was while renewed visibility in the short term with a continuation of the way of debt, and not a fundamental solution, "said Arnaud Poutiers.

REBOUND ACTION

"The proposals regarding the creation of a government of the euro area as well as measures to harmonize the taxation of factors, however, are constructive in the long term," said he, holding that the equity markets should continue to rebound by the end of the month, the CAC 40 and return to the area of ​​3330 points.

On the foreign exchange market, the trend of early morning was also reversed, the euro rising by 0.49% to 1.4466 dollar while the euro has lost up to 0.5% against the greenback .

Although it was expected, the deferral of certain decisions such as the issuance of Eurobonds and the idea of ​​a tax on financial transactions, however, marked the spirits of investors.

"Once again, European leaders have failed to respond appropriately to the right question," say strategists in a note saying that Natixis European Tobin tax is not the solution to the problem of Europe .

These underline the effectiveness of such a tax is not shown, referring in particular the unfortunate experience of Sweden there thirty years which had resulted in leakage of almost half of the transactions to London .

The financial sector and stock exchange operators are affected by this proposal.UBS points out in a note with the Swedish initiative, the volumes on the Stockholm Stock Exchange had melted by 85%.

"Assuming that the proposed tax is based on the current proposal of the European Commission, a fee of 10 basis points (bps) on stocks and bonds and derivatives on a pdb, multiply it by 10 to 20 the transaction costs, "said UBS.

The Swiss bank said this could influence the proposed mergers and acquisitions and reduce premiums for this type of operation.

As for the bank, BNP Paribas shows the largest drop in the CAC 40 index with a decline of 1.35% at Societe Generale (-1.28%).

Commerzbank lost 3.2% and Barclays was down 2.9%.Stoxx index of bank lost 1.03%.

The exchange operator NYSE Euronext loses 5.09% 3.31% Deutsche Börse and London Stock Exchange Group 4.71%.

Sodexo announced Monday it had won a new catering contract for 20 new bases for U.S. Marines representing a turnover of 766 million dollars (534 million) over a period of up to seven years.

The world number two catering, behind Britain's Compass, had already announced in February to renew its contract with 31 other Marines base, representing $ 926 million in sales for up to eight years .

Sodexo, which produces over a third of its sales in the United States, and will serve a total of 51 bases in the United States, located in Arizona, California, North Carolina, South Carolina, Virginia and Washington.

Sodexo shares are virtually unchanged at 49.97 euros to 10.00, giving a market capitalization of 7.9 billion. She lost about 3% since the beginning of the year.

The benefit of General Motors has nearly doubled in the second quarter exceeded market expectations, thanks to an increase in market share, particularly in the United States, the number one U.S. auto.

Net income stood at $ 2.52 billion, $ 1.54 per share, against $ 1.33 billion, $ 0.85 per share, a year earlier.

Analysts polled by Thomson Reuters I / B / E / S had forecast $ 1.20 per share.

Revenues came out up 19% to 39.4 billion, better than the 36.74 billion expected by the consensus.

European values ​​have ended on an uncertain note, investors are hesitating between the numbers of monthly U.S. employment appeared far below expectations and the published items for a rescue of Greece.

The CAC 40 index, which ended on a note stable (+0.02%) to 3,890.68 points, losing 1.53% on the week.

Other major European markets ended slightly higher: London and Frankfurt gained 0.12% 0.49%. The pan-European Euro Stoxx 50 index has meanwhile sold 0.40%.

Nokia ended down 4.92% to 4.48 euros, continuing its slide after profit warning at the beginning of the week.

Fiat, however, won 3.59% to 7.3550 euros.The U.S. Treasury Department announced the sale of its remaining 6% in the Italian carmaker Chrysler, which thus becomes the majority.

The Tokyo Stock Exchange ended down 0.42% Friday, weighed down by the strong yen and a sharp decline from Sony after the electronics giant said Thursday forecast below expectations.

The Nikkei lost 40.11 points to 9,521.94 and the Topix broader yielded 2.18 points (-0.26%) to 824.90.

The Japanese stock market but have erased some of its losses thanks to the good performance of banking stocks following a Financial Times article saying that banks could escape some provisions of Basel III.

Action Mitsubishi UFJ Financial Group took 0.8% to 377 yen and that of Sumitomo Mitsui Financial Group (SMFG) rose 0.9% to 2,363 yen.

The title Sony ended down 3.17% to 2.167 yen after the group said it expected a net profit of 80 billion yen (690 million euros) for the current financial year, while analysts had forecast previously a net profit of 105 billion yen.

General Mills announced Wednesday it had sealed a definitive agreement to take control of French Yoplait, number two worldwide in fresh dairy products, for 810 million euros (1.15 billion dollars).

General Mills, which already markets the brand in the flower in the United States under a licensing agreement dating back to 1977, hired two months ago in exclusive talks with PAI Partners and the dairy cooperative Sodiaal shareholders Yoplait.

The American, sixth world food group, will buy 51% of the operating company and a 50% stake in the entity that holds the Yoplait brand and associated trademarks.Sodiaal retain the balance of both entities.

General Mills said it expects that the agreement, which remains conditional green light from regulators or completed during the quarter which begins in late May

The U.S. and its target group, world number two behind Danone yogurt, will also end an arbitration between them on licensing issues in the United States.

The prospect of this Agreement raised the concern of French authorities, urging the food giant to commit to maintaining the headquarters in France and factories registered owner of Pearl Milk, Yop, Calin, Yoplait Basket Small and tricksters.

Action General Mills was down 0.33% to 39.74 dollars around 1440 GMT, while the S & P 500 advanced 0.39%.