Business & Financial News

Wall Street finished slightly higher Friday, supported by buoyant energy stocks in the face of surging oil prices, but the gains of the day do not allow the S & P 500 finished the week in the green.

This index, which is the benchmark for fund managers, posted a weekly decline of 0.5%, thus interrupting a series of five consecutive weeks of growth. However, since the beginning of the year, he won about 11%. Compared to a low of October, its progress is more than 25%.

The Dow Jones industrials gained 30 0.27% or 34.59 points, to 13,080.73. The S & P-500, wider, took 4.33 points, or 0.31%, to 1397.11. The Nasdaq Composite Index was up 4.60 point turn (0.15%) to 3,067.92.

For the week, the Dow has sold 1.1% while the Nasdaq posted a gain of 0.4%.

Despite the magnitude of the upward cycle bringing Wall Street for several months, most market participants do not believe the decline this week is the prelude to a more pronounced downturn.

They believe instead that the U.S. stock market should benefit next week cleanings portfolio at quarter end, which are usually fund managers trade shares with the sub- performed against those that have outperformed the market.

"Generally, people are well disposed towards the shares. They are ready to enter the market whenever there is a slight decline, "said Michael Matousek, a broker at Global Investors

.. Rising ……. daily was the fact the oil compartment, with the sector index gained 0.96%

…. ….. This is mainly due to the 1.5% jump in oil prices after the information saying that Iranian oil exports were down in March, the tightening of Western sanctions to against Tehran have led some customers to stop or reduce their purchases of Iranian crude

. values ​​related materials first turn have been supported by the good results of the largest copper producer Codelco. The sector index has been 0.98%.

The new home sales fell 1.6% in February to return to 313,000 on an annualized basis, said the Commerce Department, which has downgraded statistics January, to 318,000 against 321,000 originally announced. Economists polled by Reuters had expected 325,000 sales.

This indicator has sealed property values, the PHLX sector index yielded 0.57%. The action of KB Home fell 8.45% to 10.29 dollars after the number five in the construction of individual houses in the United States has reported a widening of its losses the first quarter.

The title Monster Worldwide has been 7.69% to 10.22 dollars after the agency offers online job, which has a market capitalization of approximately one billion dollars, has says ready to sell all or part of its capital.

Nike reported Thursday a profit above expectations for the third quarter of fiscal offset and an increase in its future orders.

But the title of the sporting goods company has closed down 3.22% to 107.42 dollars.

The Norwegian sovereign fund, the first equity investor in Europe, on Friday urged European leaders to fully address the structural problems of the old continent, but said he voted against the restructuring program of the Greek debt.

Presenting its results in 2011, the Government Pension Fund Global (GPFG), fueled by oil and gas bonanza of the Nordic countries, said he would prefer re a solution to the Greek case which does not favor some creditors over others.

"We voted against for reasons of principle," he told reporters Yngve Slyngstad, CEO of Norges Bank Investment Management (NBIM), a division of the Norwegian central bank manages the SWF. 

"As long-term investor, we believe it is important to stick to principles."

He stressed that the exchange process of debt expected in the second aid plan for Athens had not put all creditors on the same plan since the European Central Bank (ECB) received a preferential status.

The fund has also stressed the need to solve the current difficulties of the old continent.

"Because more than half of the fund is invested in Europe, it is very important to us that the authorities manage to solve their enormous monetary and structural challenges", a de ; Yngve Slyngstad clared in a statement.

The fund had 3.NOK 312 billion (439 billion) at December 31, against 3.055 billion kronor in late September.

The share of the fund invested in equities reached 58.7% at the end of last year, against 55.6% at the end of the third quarter. Yngve Slyngstad said the fund held 2.25% of the total market share in Europe.

He reported the purchase of more than 150 billion kronor (19.8 billion) of European values ​​on the second part of 2011.

In the fourth quarter, the fund posted a return on investment of 4.4% in the fourth quarter, ending on a positive note one year 2011 where the return on investment has reached -2.5 %, a loss of 11.4 billion euros.

In the third quarter, the return on investment reached -8.8%.

Unemployment insurance has been reminded by the Supreme Court the obligation to provide full information to job seekers, particularly in access to benefits. She has no room for error in this regard. Which should cause it to reorganize its procedures. Agency employment center in Nice

This is a decision that may have serious consequences for employment center to the edge of implosion. The Social Chamber of the Supreme Court ruled on February 8 that judge as unemployment insurance has failed in its obligation to deliver a "comprehensive information" to a woman about jobless benefits she was entitled. This decision "at the expense of employment center a general duty of information for all job seekers," he told AFP Me Christelle Mathieu, confirming a report by France Bleu Nord. "Now the burden of proof shall be on the employment center," while far a job seeker who felt cheated had to prove its allegations, she said. "It will be the employment center to prove that he has informed the job seeker," she added.

An obligation to properly inform

Moreover, "the Supreme Court has said that employment center has an obligation to provide full information," said the lawyer. Brochures and flyers have indeed been declared inadequate by the courts. The question is will it involve in terms of organization for the employment center. "One can imagine that (…) it will be individual interviews with job applicants, but since depth interviews will need to define precisely what rights the job seeker", which is entitled to several benefits, Mr. Mathieu said. "When we have two possible allocations, employment center will guide the job seeker to one that is most advantageous to him," she said.

His client had requested a specific solidarity allowance (ASS) which was paid from 2004. But during 2005, she had learned "by chance", she could benefit from the retirement allowance equivalent (EAR), the more advantageous, according to his lawyer. She asked that the EAR, it could actually benefit since 2003, he be paid retroactively, as unemployment insurance refused him. She was then approached the court and obtained the High Court of Valenciennes, April 27, 2009, 14,774 euros in damages for the injury sustained, Mr. Mathieu. This judgment was upheld by the Court of Appeal of Douai 16 June 2010.

Now, what will happen to employment center? Unions never fail to complain about a lack of resources and personnel and a degradation of services to job seekers, since the merger of the ANPE and UNEDIC. This lack of resources also derive worse working conditions for staff of employment center, whose workload has exploded and that no longer benefit from 1,800 additional posts in CSD granted when the crisis erupted.

The U.S. economy created 227,000 jobs in February. The unemployment rate remained at its lowest level in three years, to 8.3%.

The U.S. in February saw another month of massive hiring, confirming the scenario of a widespread economic recovery. The government says the country has indeed created 227,000 more jobs than it removed in February, which is higher than the net balance of 206,000 that gave the median forecast of analysts. Job creation are well above 200,000 for the third consecutive month. The Department has revised upward its estimate of 17% of new jobs in January, to 284,000, and the net hiring in February and is down 20% over the month.

The hires were not enough to lower unemployment, which remained at 8.3%, its lowest level for three years, according to official figures released Friday in Washington. In theory, the strength of job creation should lead to lower unemployment. This has not occurred because the labor force increased as much (0.3% compared to January) that the number of employed persons, according to government figures. The labor force declined in November and December, to rise for the second straight month in February could be a sign of improving labor market and show that the unemployed until then recover discouraged to seek employment. Department figures do not enable to determine at first glance from the increased labor force in February due to the influx of young people on the labor market and those related to the return of unemployed among its members.  

Department figures show that in February, employment increased in all sectors except retail trade, construction and public service. In the latter, job losses, which are the norm for over a year, have slowed considerably since there were only 6,000 per month from December to February, against over 20,000 of September to November. The employment report further states that the average hourly wage increased by 0.1% from January, to 23.31 dollars. On a year, says the Ministry, the increase in hourly wages was 1.9% which remains below its last measure of inflation (2.9% yoy in January).

On the occasion of International Women's Day, overview of the remaining inequalities in employment, wages, retirement and everyday life. Of employees in an office in Caracas Noticias24.com website.

March 8 is International Day of Women. On this occasion, INSEE publishes a study entitled "Women and Men-Glance Parity". The text leading real progress for twenty years, but disparities remain. The proof of ten digits.

4:01: This is the time spent by women in domestic work (household shopping, child care, gardening etc). It is twice more than men who do not spend as 2:13. Moreover, women do most of their children. They spend an hour, against just under half an hour for men.

4:45: This is the free time available to women. It's half an hour less than men. And the difference is striking in games and Internet (16 minutes for men), television (13 minutes) and sports (8 minutes). However, women spend more time with their family and friends (7 minutes).

39%: Women managers more now. They were 30% there twenty years. Side of the gap in labor force participation between men and women, it is reduced from 66% for women (59% in 1990), against 75% for men. Concerned, the most frequent interruption of their careers to care for their children. In 2010, 18% of women aged 30 to 35 were inactive against 4% of men.

31% of employed women work part-time, against 7% of their male colleagues. This proportion has increased in recent years since it was 24% in 1990. The use of part-time is common in low-skilled occupations in the tertiary, exercised mostly by women. he is busy 62% of women today, against 56% in 1990.

25%: Women still earn less than men. But the gap has slightly reduced from 29% in 1991 to 25% in 2009. Involved, hourly wages, which are lower for women. In private, the income gap is 20% and 15% in the public. Involved: the number of days worked less over the year, and part-time.

833 euros is the average amount of pension for women. This is twice less than men that affect Euro 1743. This reflects the differences in position on the labor market. Women retire later on average than men (61.8 years for women, against 61.4 years for men in 2009 in the general plan).

20.8%: This is the percentage of women present in the boards of the CAC 40 (15.3% in 2010 and 10.5% in 2009) and 2% of female CEOs. In the State civil service, women constitute 51.7% of the total and only 20.3% of managerial positions.

22%: This is the proportion of women elected to the Senate. It increased in the last ten years from 11% in 2001 to 22% in 2011. But they remain a minority. Same to the Assembly nationale.Un just under 14% are mayors.

Age 85: this is the life expectancy of a woman, against 78 years for men. They can expect to live a healthy year and 7 months longer than men.

7: On a scale of 1 to 10, men and women have a life satisfaction than 7. On this point, they come together …

PSA Peugeot Citroen does not exclude the future of cross-shareholdings with its new partner General Motors, which will take 7% of its capital as part of the alliance unveiled last week by the two groups.

The strategic partnership between the first French car manufacturer and the largest U.S. and world provides a common purchasing and the further development of common platforms.

The operation was not accompanied by an exchange of equity interests, as is often use to seal such a reconciliation, but a stake in GM in one way PSA, through a capital increase of one billion euros from the French group. 

"Now the time for us is probably not advisable to start with cross-participation because we need money to develop projects in which we invest with GM," de ; clared Philippe Varin, CEO of PSA, during a press conference at the Motor Show of Geneva.

"Nothing is excluded for the future, but it will not change the content of our alliance," he added.

Another big merger between two manufacturers, the Renault-Nissan has built from 1999 on equity cross – Renault now owns 43.4% of Nissan, Nissan 15% of Renault. The enlargement of the alliance in 2010 to Germany's Daimler was also accompanied by an exchange of capital, but more symbolic than at 3%.

"We think we cross-holdings are the best way to cement the win-win spirit of collaboration between the teams," said Carlos Tavares, Executive Director Officer of Renault, interviewed on Tuesday announced an alliance with its competitor.

"PSA as GM have a challenge in Europe in terms of their industrial overcapacity, both having the same problem I wonder how they will learn from each other to solve , "he added. 

COMPLEMENTARITY ON FUTURE PLATFORM

Philippe Varin declined Wednesday to discuss the implications of future common platforms for staff and two groups of plants in Europe. The first vehicle produced by this new architecture is programmed for 2016, which means starting construction next project.

The chief executive of PSA simply repeated today, the alliance had no impact on PSA overcapacity in Europe, a problem that the group intends GM solved separately in two years.

"This is a problem that every European competitor must address, it is not just a question for PSA, is a question for all European manufacturers," added Philippe Varin.

"It depends, for each manufacturer, the life cycle of its models. We, like others, will make decisions in a timely manner, "he added

. In the range of PSA, both models fueling questions about the future of sites that produce the Peugeot 207, produced in Madrid, near the end of life. Then comes the Citroen C3, also made in Madrid but also in Aulnay-sous-Bois, where management refuses to discuss the post-2014.

On the type of vehicle that will launch the first platform PSA-GM, the French group simply noted that the small car B segment, which includes the new Peugeot 208 presented e for the first time in Geneva, the alliance would draw on the expertise of the French group, while another segment of the priority of the alliance – the D, that of road – the U.S. would bring more.

PSA relies on this combination to continue its strategy of moving upmarket and internationalization of its sales, the financial difficulties that appeared last year against a backdrop of falling sales in Europe were likely to hinder . 

"The alliance allows us not to delay some projects that we would have been forced otherwise to delay," said Philippe Varin.

PSA has always perform 50% of its sales outside Europe in 2015, and two-thirds in 2020.

The deficit of Spain represented 8.51% of GDP in 2011, said Monday the Finance Minister Cristobal Montoro.

A first estimate gave 8.2% and the upward revision is mainly due to exceedances of regional budgets.

Montoro said that this figure of 8.51% was also provisional and would be circulated for consideration by the European Commission.

The objective of Madrid in 2012 is a deficit of 4.4% of GDP.

In 2010, the deficit represented 9.3% of GDP.

At a central works council, the management of ArcelorMittal cinfirmé the stops on both blast furnaces Florange until June A possible restart will be discussed in May. The unions believe that management has signed the "death warrant" of their factory. The ArcelorMittal steel plant in Moselle Florange

Unions ArcelorMittal Florange (Moselle) estimated Thursday that management had signed the "death warrant" of their factory by announcing at a central works council (CEC) the import of Russian steel to feed the Lorraine site. "The management was committed to restarting our furnaces if Dunkirk was unable to feed here in the steel hot strip mill. And now she announces in CEC purchase 60,000 tons of metal in Russia . It is simply to sign the death warrant of Florange, "said, very back, the head of the CFDT, Edward Martin.  

Speaking to about 300 steelworkers from 9:00 blocking the exit site of shipments, the union said he was "disgusted by the lies" of ArcelorMittal. "If some still had doubts about the programmed death of Florange, it is definitely up," he said. Broccoli for Walter, FO leader, the import of steel from Russia "is an admission that Florange not restart." "Florange is fucked! We'll take a thousand jobs to the river and kill a jewel in the metallurgical industry on behalf of financial profitability," he said. "This decision is extremely serious and incomprehensible," said Jean Mangin, the head of the CGT. For him it is "demonstration that Mittal does not restart Florange".

Representatives of the CFE / CGC shared this analysis. "Import of Russian steel, this means restarting the blast furnace is more than Florange compromised," said Jean-Pierre Bremen. In the morning, the leadership of the world's number one steel has indicated to staff representatives gathered in Saint-Denis (Seine-Saint-Denis) a recovery of blast furnaces Florange was conceivable that in the third quarter . The blast furnace P6 has not functioned since October while the P3 stopped since June. ArcelorMittal's management has also announced the import of 60,000 tons of steel from Russia purchased Seversthal, one of its competitors.

Between 200 and 300 steelworkers ArcelorMittal plant Florange (Moselle) Thursday morning blocked the release of shipments of the site to try to get the direction of restarting blast furnaces shut down since October, said a journalist AFP. The protesters were installed at the outlet from which the finished products factory, mainly sheet metal coils for the automotive industry. Unions fear the "programmed death" of this site, which employs 5,000 employees, after the announcement of management, last week, the blast furnaces would restart not only in the second quarter. The No. 1 global steel industry maintains that it is just a temporary standby necessary due to insufficient demand.

"We decided to hit Mittal where it hurts: the wallet," the official said CFDT Edward Martin, announcing "a block of unlimited duration." "We will build a war chest, loot the fruit of our labor," he said. At the same time opened in La Plaine-Saint-Denis, the French headquarters of ArcelorMittal, a central works council on the future of Florange site. While its two blast furnaces are dormant for several months, the hot rolling mill train Florange always produces some 200,000 tonnes per month of steel for automotive technology. The site is stocked with steel slabs produced by the ArcelorMittal plant in Dunkirk.

With this deadlock, the union hopes disrupt production in the automotive industry, has seen one of them, "just-works". ArcelorMittal Florange delivers its finished products manufacturers Peugeot, Volkswagen, Mercedes, Audi and Toyota. This action "punch" is the first conducted by the Inter CGT / CFDT / FO / CFE-CGC, after the occupation of management Monday. The Inter promised she would be "the nightmare of government," until May 6, when the second round of the presidential election. ArcelorMittal has recently decided the final closure of blast furnaces in Liege (Belgium) and Madrid, the other (two in Florange, Lorraine, one in Germany, two in Poland, two in Romania and Czech Republic) were officially launched pending before the upturn in orders.

On Tuesday, President-candidate Nicolas Sarkozy said: "We will make sure that (the Florange) reopens." FO federation of metallurgy has arrested Wednesday group management and government, demanding written commitments on the future of the plant Moselle.

Pernod Ricard noted Thursday its goal of operating income growth for the 2011-2012 fiscal year after the publication of interim results better than expected thanks to its performance in countries é mergents and strategy for its upmarket spirits.

During the six months to end December, the world's second largest wine and spirits behind the British Diageo posted an operating profit (ROC) of 1.379 million euros, up 17% organic growth, above the consensus of 1,326.8 million euros set by the editor of Reuters.

Its net income group share grew by 16% to 843 million, for a turnover of 4.614 million (4,623.7 million forecast by analysts) an increase of 8%. Organic growth was 11% (10.7% expected).

Confidence in the continuation of these trends, the wine and spirits group now expects organic growth in annual operating income of nearly 8%, against 6% so far, and a Net debt / EBITDA close to 3.9 at June 30, 2012, against four previously.

Pernod Ricard shows a net debt / EBITDA of 3.9 to 4.4 against 31 December 2011 to 30 June 2011.

L'Oreal, the world of cosmetics, said Monday the end of the term of a director of Liliane Bettencourt, replaced the board by one of his grand-son, John Victor Meyers.

The latter, aged 25, is a member of the supervisory board of the family holding company Tethys since January 2011.

Liliane Bettencourt, heiress to the group, is 89 years old. The candidacy of his grand-son will be submitted to L'Oréal shareholders at the next general meeting on 17 April.