Schneider is growing again

Beginning of year good for Schneider. The world's number one low-voltage electrical equipment and number three for medium voltage carried on the first three months of the year a turnover of 3.91 billion euros, up 2.3% at the both structure and exchange data current and organic. It's better than expected by analysts polled by Reuters had expected a slight decline in activity (-1.2% to 3.78 billion).

This is the first quarter of growth for the group since the third quarter of 2008, the beginning of the economic crisis for the sectors to which its activity. "As expected, we see significant recovery in industrial activity – a sharp contraction after last year – and the rebound in investment in energy secure," said Chief Executive Jean-Pascal Tricoire in a statement.

2010 targets confirmed

Schneider is being strengthened in emerging countries like China, its second largest market behind the United States and ahead of France and on the segment to higher value-added solutions for energy management. "Energy efficiency and renewable energy, particularly in Europe, remain a relay of growth through new orders supported," said Schneider.

In contrast, "the market for commercial property in the mature economies should not restart the short term and probably still weigh on the work of Schneider for several months," said Emmanuel Babeau, CFO of the group, even if it considers that low point could be reached at the end of the second quarter.

The focus group confirmed a moderate growth this year to a number of his sales at constant exchange rates and consolidation scope, after falling nearly 16% throughout 2009.

Schneider also still expects an improvement in EBITA margin of approximately 14% before restructuring costs and impact of integration Areva Distribution, against 12.9% in 2009 and 16% in 2008, thanks to cost savings conducted under the Strategic Program One.

Europe is ready to provide emergency aid to Greece

Pressed by the markets which seem to question the reality of the support plan for Greece, the central bankers in the euro zone agreed Friday on the financial terms of emergency loans to Athens. "An agreement has been reached" at a meeting of experts in Brussels, assured on Friday, several European sources. It can be triggered at any time if Greece requests.

The compromise is the price of bilateral loans that are granted by governments and the IMF to Greece under the rescue plan. "For loans up to three years, the rate of special drawing rights (SDR) plus 300 basis points plus 50 basis points of service charge," added the sources said.

Under discussion for ten days, the interest rate is a crucial point of the plan, anxiously awaited by investors.Germany insisted that loans be granted to Greece "no subsidy" that is to say, the market price, while France and Italy were ready to make a flower in Greece.

Berlin was right partners, obtaining successful even in the smallest details. "A premium of 350 basis points above the SDR rate – the benchmark for the IMF – is the average for the market this week," said Dominique Barbet, head of market research at BNP Paribas. "For a country of the euro area is very expensive," he adds. "But at least Greece is attached to his fate," said the economist.

What interest could she Greece to seek EU aid, if the price of loans is not less than the market? "In the markets, lenders are not obliged to pay, even if the price is attractive: it is all the difference," said Dominique Barbet.If Greece asks EU aid, she knows she will obtain a price fixed in advance, which will never be below the market price, because the latter will naturally.

Spectrum of banking crisis

For now, Athens has not seen fit to seek the help of the euro area and the IMF, even if the markets will grow, calling for a rate of 7% for loans to ten years, or surcharge of 4% compared to Germany.

Although the markets have calmed down a bit Friday, Greece is at the foot of the wall. It may not only failure refinancing at its next bond issue, but also a banking crisis. Fearing bankruptcy, the Greeks have already withdrawn 10 billion euros of deposits and place them in foreign banks.

On Friday, ratings agency Fitch lowered the debt by two notches to BBB-Greece, citing "budgetary challenges" growing."The sharp rise in interest rates will make it harder for the government to achieve its goal of reducing the budget deficit to 8.7% this year," says the rating agency. Fitch is particularly heard it was the first to degrade Greece December 8, 2009, giving the signal for the Greek financial crisis.

ALSO READ:

The Greek debt riskier than ever

"SPECIAL – Greece, a challenge for Europe

The Paris Bourse at the highest end of the year

The CAC 40 gained 0.49% to finish at 4053.94 points, its highest level since the beginning of the year. Frankfurt has won 0,27% 0,62% and London.

After four days of Easter break, European markets greeted the resumption of job creation in the United States, announced last Friday as well as good numbers of activity in services and real estate published in recent days.

U.S. markets plying highs not seen since late 2008, however, regained their breath. The day before, while Wall Street took note of good statistics published during the week end, the Dow Jones closed up 0.43% and the Nasdaq had allotted 1.12%.

After this beautiful hike, investors preferred to play the card of caution before publication in the night "minutes" of the Fed.A document that transcribes the discussions that took place at the last meeting of the Monetary Policy Committee of the Fed and many analysts imagine animated. Although directed at the opening, the Paris market has reduced its earnings in mid-session, affected by Wall Street and by new concerns about Greece which weighed on the euro.

Raw materials and surging oil

On most major world stock markets, the values related to raw materials and light winds were driving the increase. The latest U.S. statistics have dramatically raised prices. The barrel is trading around 86 dollars in New York, on the summits of 18 months!

In Paris the title of the mining company ArcelorMittal has spent virtually all sitting at the head of the CAC 40 with a gain of nearly 4%, followed closely by oil services Technip and Vallourec disputed second on the podium.On the deferred settlement (SRD), Eramet jumped more than 7%. The title was borne by a positive note, analysts at Exane BNP Paribas, which have raised their price target to 260 euros against 175 previously.

iPad: estimates revised upwards

Saturday, the day of its launch, the iPad has sold over 300,000 copies in the United States. Over one million applications from the App Store and more than 250,000 digital books in his store iBookstore were downloaded during the first day.

Success is recognized Stock Exchange: Investors bought shares Apple Monday, allowing the group to climb over 1.07% at the close of the meeting. Actions cotent and 238.50 dollars, and shot while the index of technology stocks, the Nasdaq, rising.

Price target raised to 30% at JP Morgan

This enthusiasm was immediately relegated to the level of financial analysis.Mark Moskowitz with JP Morgan raised its price target on the value of 240 to 305 dollars, almost 30% more, believing that "iPad is a first step towards a new kind Honourable products" saving account payday loan. According to the strategist, the U.S. giant will sell 825,000 tablets in the quarter ending in June

For Peter Misek, Canaccord Adams, sales could reach 3.7 million units in the fiscal year. His first estimate, made before the launch was 1.2 million units.

SelonCharlie Wolf of Needham & Co., the iPad is a product "that nobody needs but everybody wants."

ALSO READ:

"What wants Le Figaro on the iPad

The fever takes iPad U.S.

»IN PICTURES – The iPad arrived in the U.S.

The gas bill increase by 10%

The recall should not rejoice homes. As announced a week ago, the gas bill will swell from this Thursday. The rate-regulated natural gas will increase by about 10%. A decision had already been endorsed by the Regulatory Commission of Energy (CRE) on the proposal of GDF Suez.

Specifically, for households using gas for cooking, the bill will increase by an average of 12 euros every year (including VAT). Those who use them also for their hot water will have a note saltier than 25 euros on average per annum inclusive. Finally, the largest increase, from 85 euros in the year, will be felt for consumers who use gas for cooking, hot water and heating.

First increase in two years

This rate increase is the first since August 2008 online payday loans.It is also the highest since November 2005. Hence the fierce opposition of consumer groups, trade unions and the opposition, which have increased sharply denounced as "outrageous" and "unjustified" in times of crisis.

"This announcement seems so surreal that you might expect to a joke," joked the Consumers' Association CLCV, for whom the increase "seriously undermines the purchasing power of consumers."

In turn, GDF Suez said that natural gas "remains the most competitive energy for heating.

ALSO READ:

"The price of gas reflects the true costs"

"Bercy modifies the rules for fixing gas prices

"China underestimated its trade surplus

Lefigaro.fr / jdf.com Do you think China can show a trade deficit in March, as Beijing has warned?

Antoine Brunet regard to China, everything is possible! There are thus two sources to monitor developments in foreign trade of China: Beijing publishes official figures very soon, the International Monetary Fund (IMF) released later the algebraic sum of trade between China and each of its trading partners. In general, the external surplus established by the IMF is almost twice higher than that displayed by Beijing.

China over time, underestimate the reality of its surplus. For example, the government does not include exports of Chinese subsidiaries of foreign groups, which is not justified economically. This largely explains the discrepancy with the IMF data.

Why China would try to hide it a part of its trade surpluses?

This strategy is an integral part of Chinese diplomacy to delay the possible revaluation of the yuan. Plus his "score" is impressive, the more the world takes umbrage, and China shows a healthy insolent foreign trade, the more she exposes herself to scolding of its trading partners. Countries suffering from sluggish growth, combined with a deficit due to China, very legitimately claim a revaluation of the yuan.

Do you, as some analysts that Beijing let the yuan rise by around 4 to 8% in the coming months?

Recent Chinese statements are not encouraging and should be completed in arm wrestling. The Chinese government has the support of the people and businesses.They know that the prosperity of China is largely due to the undervaluation of the yuan.

Beijing also likes to test the true responsiveness of Westerners. China will probably go to the balance of power. How will this happen? It will withstand international pressure calling for a higher yuan. Only if the U.S. put in place tariffs of around 40% on Chinese goods that China will negotiate an appreciation of the yuan.

China Has no interest in lowering the yuan?

Some Western commentators are their wishful thinking and believe that Beijing revalue the yuan to fight against inflation and speculative bubbles. But China did not need this tool.To reduce inflation it suffered through the commodity denominated in dollars, China supports the current rise in the price of the greenback against the euro. It pretty much control the evolution of the Shanghai Composite Index through exchange controls that isolates the Chinese market from the rest of the world. Finally, it relies on direct supervision of mortgage lending to limit the rise in house prices.

OpenSkies flies to Washington five times a week

Started quietly on a niche market with any business flights between Paris and New York, L'Avion the company had managed to find its place. It has since been bought by British Airways, which was renamed OpenSkies and that crisis requires, thought for a time to sell. To retract the landing slots at Orly is of such value that it would be a pity to discard it.

If OpenSkies had to stop the line between Amsterdam and New York, however she managed to win the Paris-New York, granting itself more than a quarter of market share. This low cost dedicated solely to the business class will open May 3 next traffic between Washington and Paris, it will operate five times a week B757-200 equipped with 72 seats. The call price will be 1,200 euros return. Other rates, depending on the filling, can reach 4 . It receives about 800 applications per month.Only in a second time that the mediator will intervene if no common ground was found.

A record three refused

"The creation of the ombudsman is not a gimmick, it is a substantive approach, tangible proof that we still develop our customer relationships," says Thierry Laborde. A number of consumer credit in Europe, he faces a sharp decline in its market. The group, which currently refuses to apply for credit in three, is determined to remain selective. "Sometimes you say no in the interest of the client. Have a responsible approach to credit is knowing renounce the production of credit too risky for the borrower as the lender, "says Thierry Laborde. To grow, it relies on the pension, savings, credits for e-commerce and products designed for bank and insurance partners.Consumers themselves, the law still waiting on consumer credit which must include review of the wear rate and the revolving frame.

ALSO READ:

"Fall history of consumer credit

Hugo Chavez expropriated a subsidiary of Casino

After the oil, energy, steel and telecommunications, Hugo Chavez continues its process of nationalization of enterprises. The socialist Venezuelan president ordered Sunday the expropriation of the hypermarket chain Franco-Colombian Exito, owned by Casino, which it accuses of having increased its prices for "speculation." Until when will we allow a multinational come to that here? This should go under control of the nation, "Chavez said during his radio program broadcast weekly" Alo Presidente (Hello President).The Venezuelan president had already used this forum a year ago, to threaten international companies, namely Nestle and Parmalat, which he considered responsible for the shortage of milk in his country.

Following the devaluation of the bolivar, the local currency last January 8, Hugo Chavez had threatened that any company would increase its prices by improperly expropriation. The bolivar is trading now at 2.60 Bolivars to the dollar for imports of commodities (health, food, equipment) and 4.30 Bolivars for others (cars, telecommunications, electronics, tobacco, beverages … ).

The Casino Group is present in the Venezuelan market since 2000 through Exito hypermarkets but also Cada supermarkets, leaders in their segment.In total, 60 stores in Venezuela owned by Casino have achieved in 2008 a turnover of 741 million euros, or about 2.6% of total turnover of the group.

The Casino must submit on Monday after-hours trading, its annual sales and one for the fourth quarter of 2009.

ALSO READ:

"Venezuela: a devaluation at high risk

"Accor: the devaluation of the bolivar will have limited impact

The cold and snow and disrupt the distribution industry

The snow and ice blocking roads and large parts of the French economy. Shipments delayed at stores, industrial production lagged, frozen agricultural products, sites blocked, no area is immune. The lack of salt in some areas may aggravate the situation.

• Transport

"We sold out of salt in Britain. We need between 4,000 and 5,000 tonnes, said yesterday morning the prefecture of C?tes-d'Armor. A freighter was delivered yesterday 400 hundred tons of salt in Saint-Malo. The motorway companies claim to have sufficient stocks of salt, but are not certain of being able to deliver.

The trucks – including those transporting salt – should get up to three prefectural authorities to travel in snowy areas. From his side, Eurostar has restricted the movement of Saturday's train.The main airports remained open, but traffic remains disrupted, with delays and cancellations.

• Agriculture

Agriculture is doubly affected by the weather. The cold wave disrupts production. Leeks, caught in the frozen ground, are difficult to uproot, salads, even in greenhouses, are unusable. Small consolation for the vegetable: the prices of fruits and vegetables are on the upside.

Dairy producers are also victims of bad weather, the milk collection is rendered impossible, especially in Britain. The roads are blocked by snowdrifts. Producers are forced to dump their milk.

• Building

"When temperatures are near zero, it is virtually impossible to sink a concrete" classic ", says one expert.Traditionally, sites are interrupted when temperatures become negative.

This data is taken into account when setting schedules. But this year, the duration of the episode is likely to exceed estimates.

• Distribution

Deliveries are not guaranteed, especially in Britain. For the moment, no shortage is feared, but supply problems are starting to be felt in the spokes.

Fortunately consumers are reluctant to run the stores, despite sales. Declining attendance reaches 60% depending on the charge of a Carrefour in the Toulouse region.

In contrast, the Printemps Haussmann in Paris, he sold a jacket every 7 seconds!

• Industry

Plants PSA Peugeot Citro?n, Sochaux and Mulhouse have stopped production Friday night to Saturday because it was delivered in pieces. Trucks suppliers could not move. This represents a lost production of about 2,000 cars.

ALSO READ

The energy breaks all records