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Kia boss resigns

admin — Wed, 08 Sep 2010 02:03:42 +0000

The Koreans have a sense of honor, particularly advanced. The boss of Kia Motors, Chung Sung-eun, has resigned after the manufacturer, the country's second largest behind Hyundai's ally, was forced to announce, between Monday and Tuesday the recall of more than 100,000 models worldwide for problems electrical circuit. The four models are concerned the Soul, the Sorento, the Borrego and Cadenza.

In reality, this reminder, in addition to that, in June, to 56,000 vehicles (produced in Slovakia) for a potential defect in the braking system, seems to have been one too many for the group chairman, Chung Mong-koo, the son of the founder of Hyundai. It was he who had fired Chung Sung-eun, also vice-chairman of Hyundai-Kia, according to the Korean press.

The quality, workhorse of the group

This reaction may seem excessive.Reminders of this magnitude are indeed common in the automotive industry. Generally, they do not impose sanctions on the head of companies. The most striking example is the Japanese automaker Toyota, which has not changed leadership after recalling more than 10 million cars since last fall to technical faults, which has plunged into the worst crisis serious in its history. The world, however, completely revised its processes for quality control.

The intransigence of Hyundai-Kia is explained by the fact that the fifth largest world has made improving the quality of its flagship since the early 2000s. Thanks to the huge sums invested, it now ranks among the best in this field.In recent years, the group, who dreams of becoming world number three in 2012, before passing the result Toyota has further intensified its efforts to provide a high quality image.

Since its quality problems have knocked off its pedestal Toyota – long the standard in the field – Hyundai and Kia are looking to snatch back market share from their rival Nippon highlighting the reliability of their models. In the second quarter of this year, Kia has posted a net profit up 61% YoY thanks to good sales and the success of its new models. This explains the desire of Hyundai-Kia to hit hard after the latest recall, although their scope is limited, probably to make it a symbol of his attention to quality.

"Risk protectionist mastered"

admin — Thu, 02 Sep 2010 22:39:59 +0000

Alert on the American note

admin — Fri, 27 Aug 2010 03:16:58 +0000

This time, the warning from Standard & Poor's regards the world's largest economy. If the U.S. wants to maintain their "AAA" rating, the highest possible, they should address their enormous budget deficit, said Thursday in an interview with John Chambers, chief of staff of the Department of State debts.

"It is very important to note the status of the U.S. Congress that takes into account very carefully to what the Tax Commission will propose," he told Dow Jones Newswires. Faced with the explosion of the budget deficit, President Barack Obama has established a bipartisan commission (Democrats and Republicans) in fiscal responsibility, whose conclusions are expected in December Guaranteed no fax payday loans. The warning from S & P added that Moody's mid-August.

The Obama Administration has pledged to halve the budget deficit of the state in 2013 and to stabilize the federal debt to 70% of GDP by 2015. The S & P economist has however rejected the scenario of a new recession, preferring to talk of a slowdown in growth.

"The U.S. economy has enough strength to grow by 2% this year and next year," he added.

Boeing B 747 returned to service

admin — Mon, 23 Aug 2010 06:57:10 +0000

It is a further sign of the global recovery in air traffic. Several companies have decided to return to service wide body aircraft they had left their fleet at the height of the crisis. These appliances over 400 people landed in the Mojave Desert (southern California), the biggest aircraft graveyard in the world, who also serves as a giant car park for all airlines. In late 2009, the AOG stock peaked at 3,700 units or 11% of the world fleet (19,000 had approximately). But last June, and for the first time since early 2009, the number of widebody taken by their owner has exceeded that of the aircraft were parked. Of the 200 units withdrawn from storage, 25% were Boeing 747, according to research firm specializing Ascent Worldwide.

The companies are currently preparing the 2010-2011 winter season, which opens on November 1 and lasts six months.And they have decided to increase their capacity. British Airways will offer 7% more seats than in the same season in 2009-2010. The British company will provide such a service between London and Dallas 747, which allows him to release a 777 on the London-New York. Lufthansa, meanwhile, plans to resume a jumbo jet that had put the garage in Germany after having taken a dozen short-haul type B737 and A320. Asian companies are not far behind. Cathay Pacific has recalled five widebody freighter version, four of which will particularly strengthen the fleet of Air China, the Hong Kong whose company owns 49% stake.

Planes cheaper

The return of wide-body aircraft in the fleet remains measured, under the strong rebound in traffic.It has increased 12% for passengers and 27% for freight in June, according to the International Association of Airlines (IATA). "The danger is to increase capacity too fast and too strong," responds Chris Tarry, an aviation consultant based in London. Conversely, a company that does not deploy enough capacity might miss the train of recovery. All are therefore seeking the right balance.

At Air France, the question also arises, but the company continues, against the current trend observed by Ascent Worldwide, out of its B747 fleet. Nothing illogical. On the contrary: "We are entering our fleet of planes more modern, more economical and more environmentally friendly, as the A380. And we are strengthening our fleet of B777-300, "said a spokeswoman for Air France.And remember that the A380 is an annual operating savings of 15 million euros compared to 747.

Air France has already stripped of three B747. A fourth will join them from November. There are still thirteen 747, including ten in the passenger version in service with the French company, but they are headed in starting with the rise of the A380. The company has received mid-August his fourth super-jumbo, which will link Paris and Tokyo from September 1. The fifth A380 scheduled to enter service next April. Meanwhile, Air France is increasing its fleet of B777, a jumbo jet she ordered two versions: long-haul and Caribbean-Indian Ocean.

Income: rural towns are catching up

admin — Thu, 05 Aug 2010 14:42:19 +0000

Effect "back to earth." The French statistical institute (INSEE) on Thursday published a study that analyzes the household income for the period 2002 -2007. It reveals that the income of rural residents of metropolitan France grew faster than those cities. If one third of the wealthiest households are concentrated on the Ile-de-France, INSEE observed a phenomenon of rebalancing.

Thus in the Ile-de-France and Alsace two richest regions – the median income (note: half the French paid a higher salary, the other a lower income) increased 12% between 2002 and 2007 against 16% average for the whole territory. In Corsica, however, where incomes are lower, median income has jumped 23%.

Migration and the baby-boom

According to INSEE, this phenomenon can be explained by the arrival of wealthier households in small towns.These include urban assets fleeing big cities and their tax burden. But the statistician also highlights a second phenomenon: the impact of an aging population. Between 2002 and 2007, "the number of households 60 years and over grew twice as fast as the total number of households. Meanwhile, the incomes of 60 years and over are rising twice as fast as inflation, "said INSEE. Very active in the campaigns, the generation of baby-boom contributes to rural incomes make up, and therefore the balance of the territory.

Persistent inequalities

But all regions of France have not benefited from this drive. Some economically unattractive or very remote from urban centers remained behind. This is particularly true of the central districts of Britain or mountainous regions.Nord Pas-de-Calais and Champagne-Ardenne also concentrate the lowest incomes.

In these regions, it is mostly young families who are experiencing difficult situations. For the latest revelation of the study reveals that the digging of a generational gap. Across the country, the median income of the less rich than 30 years has increased by 16-20% while that of younger declined by 1.6%.

The increase was confirmed to Wall Street

admin — Tue, 27 Jul 2010 01:31:11 +0000

The U.S. stock market was hesitant on Monday. The major indices started in the green, but very clear: the Dow is 0.12% at 10,438 points, the Standard & Poor's 500 and Nasdaq 100 earn them, respectively 0.1% to 1104 points and 0.13 % to 2269 points.

On Friday, the NYSE has ended sharply higher, buoyed by another round of quarterly results from U.S. companies of good quality and were reassured on the results of resistance testing in European banks. The Dow Jones gained 0.99% and the Nasdaq 1.05%. On the whole last week, the Dow Jones gained 3.23% and the Nasdaq rose 4.15%.

On the foreign exchange market, the euro against the dollar adds.At the opening of U.S. markets, it was worth 1.2944 dollars against 1.2906 dollars on Friday night.

Oil prices retreated Monday in the opening exchanges in New York, yielding 86 cents a barrel to 78.12 dollars, while Tropical Storm Bonnie was eventually spared oil facilities in the Gulf of Mexico.

Busy Week Statistics

A busy week on the macroeconomic level. Today sales of new houses in the U.S. rebounded more than expected in June, from 23.6% in May after hitting their lowest level since 1963 at least, but still extremely low, according to figures Official published Monday in Washington.

Another highlight, the U.S. central bank should publish its Beige Book Wednesday on the economic conditions.It will be very guarded while the president of the institution, Ben Bernanke said Wednesday before Congress the slow recovery, with no announcement of new funding in the economy.

On Tuesday, it is the Standard & Poor's / Case Schiller home prices and consumer confidence, which will be followed, before investors only look the next day on orders of durable goods. But it was the day Friday with the first estimate of gross domestic product (GDP) U.S. second quarter is expected this week.This new burst of publications should be followed especially when investors are questioning again on the strength of the U.S. economic recovery.

Publications wait

U.S. companies are still likely to take stock in their accounts this week, including the program six companies forming part of Dow Jones. Tomorrow investors expect such figures CIT and Lockheed Martin and those sitting in the middle of DuPont.

To follow today the title of BP traded on Wall Street. The British press refers to a departure from the CEO of BP, before tomorrow, the date of publication of interim results of the oil giant.

IBM: The European Commission has opened two investigations into the group.It suspects the group of computer abuse of dominant position on the markets for servers.

Always on the side of values, General Electric said Friday its increased dividend of 20%, the quarterly dividend from 10 cents to 12 cents. GE also announced a resumption of its share repurchase programs. He had stopped this practice in September 2008. The board gave its approval for an additional $ 11.6 billion. "GE hopes to finish the year with $ 25 billion in cash, including proceeds from the sale of a majority stake in its subsidiary NBC Universal to Comcast" say the analysts at Aurel BGC.Some of this money will be used to buy three billion dollars in preferred shares that the group has sold to the holding company Berkshire Hathaway of Warren Buffett in October 2008.

Also note Friday night, the FDIC, the federal agency whose primary responsibility is to guarantee bank deposits, announced the bankruptcy of six new American banks, bringing to 102 the number of closing establishments since the beginning of year. These six failures will cost about 394 million dollars to its compensation fund the FDIC.

FedEx climbed 4.25% to 82.32 dollars while the group has raised its earnings forecast for the current year. The U.S. giant now aims Messaging earnings per share of between 1.05 and $ 1.25.

Genzyme flies from 5.45% to 65.93 dollars. The group would be the target of several pharmaceutical companies.Sanofi-aventis is about to blow.

The CAC 40 should remain in the green

admin — Sat, 24 Jul 2010 06:59:26 +0000

Maintain the 3600 points. It is an objective that will bind the Paris Stock Exchange on Friday. If investors follow their Asian counterparts in Paris, and especially Tokyo, the CAC 40 should be driven up to the opening. The green should be this good after a session to bounce which saw the benchmark index of Paris open reduction and regroup before accelerating earnings and to close more than 3%.

In addition to Asia, should further positive momentum on Wall Street. The U.S. markets have done a nice meeting Thursday at which time the Dow has gained almost 2%. U.S. markets relatively insensitive to the announcement of a surprise increase in weekly unemployment registrations have been worn by the overall business results above consensus.

In this good mood, the wait surrounding the publication of results of stress tests of European banks on Friday should be more on that early next week.

In terms of macroeconomic statistics, the session looks very calm. No major indicator is expected in the United States. In France, INSEE must publish the figures for household consumption while the Germans unveil their Ifo business climate.

TF1 reviewing its objectives to increase

The stress test, however, occupy the banking sector.BNP Paribas, Societe Generale, Credit Agricole, Natixis (BPCE) or Dexia should respond.

Moreover, the markets will again this session to analyze several quarterly publications:

TF1 announced before market sales ad up 11% in the first semester for a total turnover of 1.28 billion euros, above the consensus. Net income group share was 74 million euros over the period payday loans for bad credit. The objectives are significantly revised upward with a turnover in 2010 rose by 7% instead of 4%.

STMicroelectronics reported Thursday a profit above expectations at 18 cents per share with a turnover up 27% to 2.53 billion. Analysts on average expected a profit of 14 cents per share and a turnover of 2.513 billion dollars.

Pernod Ricard noted Thursday its annual forecast for operating profit thanks to the improved economic environment and its position in emerging markets. Its turnover in 2009-2010 emerged, up 2% on a comparable basis.

Ubisoft has released a turnover up 94% in the first quarter of 2010-2011, to 161 million euros and confirmed its objective of a provisional turnover of 160 million for the remainder of the year.

BioAlliance Pharma has announced a record turnover of 15.2 million euros in the second quarter against 1.5 million a year earlier, after recording in April for U.S. Loramyc, light treatment of fungal infections of the mouth patients with cancer or AIDS.

As for ads, Alstom said it had won contracts valued at about 450 million euros for the construction of two units for a combined cycle power station in India.

Legrand announced Thursday a takeover offer for Indo Asian Switchgear India, where he produced nearly 4% of its annual turnover after the acquisition. Indo Asian Switchgea aims for 2010 sales of more than 35 million euros.

Maurel and Prom announced Thursday it had increased to approximately 70 million euros the amount of its issuance of Oceanes five years following the year's total allotment option.

The austerity fragile construction

admin — Fri, 09 Jul 2010 03:48:43 +0000

The stock performance does not lie. Since the beginning of the year, the Euronext Building & Construction fell 18%. Values that balance the index are battered stock market. Wednesday again, the index meant the worst performing sector in Europe. The Irish manufacturer CRH, which warned on its sales in 2010, lost nearly 9% while the French Lafarge realized the worst performance of the ACC. It also loses 28.95% since January 1. Over the same period, Saint Gobain coward 17.15%, while 11.24% abandons Vinci.

The Irish group has yet taken a cold snap in stating that its sales in 2010 would be affected more severely than expected by the consequences of fiscal consolidation in the euro area and slowing the pace of recovery in USA.

The news did not surprise analysts."The fiscal crisis has not improved the situation of the sector because governments are pushing the major works to reduce the growing deficit," said Harry Sebag, an analyst at Saxo Bank. The financial crisis has also hit the industry particularly since the latter is highly dependent on the banks with which it finances a large majority of buildings.

The figures for real estate in the U.S. are also very revealing. In June, there were only 300,000 new home sales on a new year while the consensus was expecting about 424,000 sales.

Outlook not reassuring

For the future, the industry should be very cautious. "We are in a context of sluggish growth and unemployment prevails with a high public and private debt.Certainly the infrastructure programs of national recovery plans may lead us to believe a recovery in the sector, however, this growth drivers must be qualified with the recently introduced austerity policies, "said Harry Sebag. For example, France had planned to inject four billion euros in the construction sector in 2009. But only 2.5 billion have been invested and a slowdown in public works is possible for the remaining 1.5 billion.

"Businesses have already significantly impacted margins and cut prices to gain market share over the weaker euro and higher commodity prices, driven by demand from emerging economies, clouding the outlook for the sector , "says the analyst.

There is no question of a collapse."The activity is still declining, but remained stable for the rest of the year is possible if the growth recovery by 2011," warns Harry Sebag.

Old housing: prices rise

admin — Wed, 07 Jul 2010 02:52:57 +0000

The house prices in France rose 8.48% in one year, between the first halves of 2009 and 2010, approaching the record before the 2008 crisis, according to Century 21, a leading network of real estate agencies .

"We are very concerned about the sharp rise in prices because of the risk of blocking sales volumes because we are at the upper limit of what buyers can pay," said Laurent Vimont, president of Century 21 (850 agencies), at a press conference.

The average price amounted to EUR 2,508 per m2 in the first half of 2010, an increase of 8.48% over the first six months of 2009, very close (-1.6%) the record first half 2008 before the housing crisis that followed the subprime U.S..

For the full year 2010, Century 21 provides for a price increase of 6% of existing housing compared to 2009.

In Paris, after a price hike of nearly 15% in one year, slightly more than 10% over the last six months, even beating the record with an average price of 7079 euros per m2, or 5.4 % increase over the first half of 2008.

This surge in prices in the capital, due to the demands of higher socio-professional and retired, does not affect sales volumes which recorded a 11.3% increase over one year.

The Tokyo Stock Exchange at the lowest of the year

admin — Thu, 01 Jul 2010 05:57:28 +0000

New session in the red for the Tokyo Stock Exchange, the largest in the Asia-Pacific. On Thursday, the Nikkei index lost another 2.50% less than an hour of closing at 9147 points, its lowest level this year.

The bad behavior of Wall Street the day affects the morale of investors. Especially in the Standard & Poor's 500, which yielded 1.01% to 1031 points, and pushing the major support of 1040 points.

In Tokyo, the upward trend of the yen against the dollar and the euro affects the titles of exporting companies, prompting investors to discard.

Market participants also seem to have overlooked the results of well-oriented business confidence survey (Tankan), conducted quarterly frequency by the Bank of Japan (BoJ).The Tankan index of confidence among large manufacturers in Japan has had a positive effect in June for the first time in two years, rising 15 points over March to a point, according to the Bank of Japan (BoJ). This result confirms hopes of a return of the second world economy, whose growth is being driven for months by exports to Asian countries and emerging economies, notably China.

Crude prices were also driven lower on Thursday in electronic trading in Asia, following a rise in gasoline stocks and a slowdown in net new jobs planned for the month of June in the United States.

In morning trading, a barrel of light sweet crude for August delivery was down 77 cents at 74.86 dollars a barrel, while Brent North Sea for delivery in August, gives 50 cents to 74 $ 51.Wednesday on the New York Mercantile Exchange (Nymex), a barrel of light sweet crude for August delivery ended at 75.63 dollars, down 31 cents from the previous day.