Business & Financial News

Saffron flames on the stock market Thursday after announcing strong growth in quarterly revenue, supported by its commercial engine business, and reaffirmed its 2012 objectives and confidence for years to come in light of trends in the market.

The supplier for the aerospace, defense and security sees its title clinch 7.40% to 28.65 euros by 9:55, the fastest increase in the CAC 40.

Safran, whose capitalization reached 12 billion, returned 24% since the beginning of the year.

The group confirmed target for 2012 growth of around 10% of its turnover and an increase of about 20% of its EBIT, free cash flow which should represent about a third. 

The Thomson Reuters consensus I / B / E / S reported for 2012 a turnover of 13.111 billion euros, representing growth of 11.7%.

In the first quarter, the group achieved a turnover of better than expected 3.108 million up 15.9% in raw data, representing organic growth of 7.3%.

It takes advantage of the 15.1% of its business services to commercial engines in U.S. dollars, thanks to the CFM56 product as part of CFM, its joint venture with General Electric to parity.

Saffron continues to expect growth in commercial engine business to nearly 10%, stressing "the fluctuating behavior of airlines inherent in economic conditions deteriorated ". 

MEDIUM-TERM OUTLOOK ENCOURAGING

Group CEO Jean-Paul Herteman said in a conference call to count on an increase in passenger and cargo traffic and the need for newly aging fleets of fuel-efficient in a context of price e rose oil.

Leap engine, successor to the CFM-56, was selected for the A320neo and 737MaX, remotorisées versions of single-aisle Airbus and Boeing, and for the Chinese Comac C919.

Safran reported 378 deliveries of new CFM56 engines in the first quarter – 56 more than the first quarter of 2011. Orders and purchase intentions and the CFM56 Leap totaling 695 units to 19 April, with an order book remained at about seven years of production.

On this basis, Jean-Paul Herteman spread the risk of occurrence of a bubble, a concern emerged after the record garnered orders from Airbus and Boeing in 2011, especially from companies Asian.

"The term bubble is certainly excessive," he noted, recalling that the shifts were still possible orders in the aerospace sector.

"(But) it does not involve sales growth and activity of the profession in the coming years unless major economic cataclysm," he added. 

He thus echoes the comments of Olivier Zarrouati, CEO of Zodiac Aerospace, a company specialized in equipment for aircraft cabins, who did not believe either to emergence of a bubble.

In terms of acquisitions, Jean-Paul Herteman declined to comment on the new interest in Safran for Italian Avio, controlled by private equity funds Cinven alongside Finmeccanica, which owns 14% stake.

John Paul was reaffirmed in February Herteman identify complementarities with Avio in the fields of space and aeronautics. 

The Italian public fund Fondo Italiano Strategico last week showed his interest for a stake in Avio, including an IPO was considered.

Jean-Paul Herteman also said he had signed the April 20 agreement establishing a joint venture with Thales for commercial and technical optronics, combining optical and electronic technology that facilitates including night vision for soldiers.

He added that the proposed JV parity announced just before Christmas was being investigated by the authorities of the staff.

Executive Director International Monetary Fund (IMF) Christine Lagarde said Wednesday that member countries pledged to provide a total of at least $ 316 billion of priesthood ts to the fund to hold the debt crisis in the euro area.

"We have promises for more than $ 316 billion and I have more in the bag," said Lagarde.

The IMF said in January will increase its financial resources of $ 600 billion to guard against any spillover of the crisis of European debt. But obtaining firm commitments at meetings of the IMF, World Bank and G20 at the end of this week in Washington, might be difficult.

The United States including that they would not participate in these efforts. Canada has estimated that Europe had sufficient funds. Other countries, including China, Brazil and Russia expressed readiness to contribute to the financial effort but if they get in return more of the voting rights in IMF.

Christine Lagarde said last week that it was possible that the IMF has required fewer resources than he thought a few months ago, the economic and financial risks are being mitigated ; s. These resources could be increased from 400 to 500 billion dollars, an amount less than $ 600 billion initially cited, told Reuters several G20 leaders.

The Defense Ministry said Tuesday it has given to the supplier Thales the first tranche, amounting to 263 million euros, an equipment contract of the French army in next-generation tactical radios from 2018.

The radios of the "Contact" will allow simultaneous transmission and highly secure voice and data for the infantry and armor, the ministry said in a statement.

In a second step, these positions also equip combat aircraft, intelligence and transportation and vessels.

The first installment, devoted to development work, will be notified at Thales Communications in the coming days, the ministry added. 

The contract, which is part of Scorpio French military modernization, especially equip future multi-role armored vehicles (VMBR) called to replace the current armored vehicles ahead (VAB).

According to Le Figaro, the contract of three to four billion euros in total over a period of 22 years had been approved by the Ministry of Defence, but that's the Economy ' objected to the notification of an important contract in its presidential campaign, prompting Prime Minister Francois Fillon to rule in favor of the project.

The Defense Ministry was not immediately available to comment on this point.

This derivative launched by a subsidiary of Deutsche Börse, the heart of a lively political debate in France before the presidential election, opened in fall lst. The trading floor in Frankfurt

The new futures contract on the French debt, in the heart of a lively political debate in France before the presidential election, yielded 0.17% on Monday but was not exchanged at the edge of its first trading day on the market German Eurex. The futures contract maturing in June on the obligations of France stood at 125.80 euros a little before 9:00 (0700 GMT) for a first course to 126.02 euros. Only seven contracts were traded, making it insignificant at this stage of fluctuations. Meanwhile, the 10-year rate of France in the bond market was a slight increase of 2.960% against 2.943% at Friday's close.  

The futures contract was launched by Eurex derivatives specialist and subsidiary of the German stock exchange Deutsche Börse. But several political parties including the Left Front, Europe Ecology-Greens and the National Front, see it as a tool to encourage speculation against the French debt on the eve of presidential elections. Francois Hollande wanted last week that the German authorities "cancel" the introduction of the futures contract, a proposal derided the president candidate Nicolas Sarkozy. For his part, Jean-Pierre Jouyet, President of the Financial Markets Authority (AMF), held that the launch of this product was not a good signal, just days before the first round of French presidential election.

The current account deficit of France widened in February to 5.0 billion euros from 4.4 billion in January, show figures released Thursday by the Bank of France .

The trade deficit in goods rose to 6.6 billion euros against 5.8 billion a month earlier.

Trade in services have in turn generated a positive balance of 1.3 billion euros after 0.7 billion in January.

The balance, positive income decreases to 2.6 billion euros from 3.1 billion in January.

The deficit in current transfers remained stable at 2.3 billion euros.

The financial account was positive at EUR 15.8 billion in February from -2.8 billion in January. 

French direct investment abroad stand at 1.5 billion euros from 4.1 billion a month earlier, while direct investment by non-residents in France rose to 2.6 billion after $ 0.9 billion in January.

Portfolio investments are the source of capital inflows to 18.5 billion euros "mainly due to purchases by non-residents of securities (public and bank) issued France ", according to the Bank of France, after trips to 23.4 billion in January.

The residents have reduced their holdings of 0.3 billion euros (-21.3 billion in January after), while non-residents have made purchases , height of 18.8 billion (-2.1 billion in January after). 

Other investment outflows display of 6.3 billion euros from 26.7 billion of inflows in January.

CaixaBank Monday agreed to buy Banca Civica to 1.97 euro per share, valuing the latter 980 million euros, said on Monday close to the matter.

A second wave of consolidation is currently at work in the Spanish banking sector, many banks needing fresh capital to cover losses related to the break at the end 2007 a real estate boom a decade.

The newspaper Cinco Dias reported on Monday that would propose CaixaBank 2.2 euros per share Banca Civica through a share exchange transaction valuing the target at 1.1 billion euros .

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 …

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.

The New York Stock Exchange ended down slightly from 0.01% Friday, the Dow Jones 30 industrial yielding 1.74 points to 12,982.95. The S & P-500, wider, took 2.28 points, or 0.17%, to 1,365.74, a closing level since June 2008 unpublished.

The Nasdaq Composite Index advanced 6.77 points on its side of (0.23%) to 2,963.75.

For the week, the Dow was awarded 0.3%, as the S & P 500, while the Nasdaq took 0.4%.

Universal Music, a subsidiary of Vivendi, has requested a green light from European authorities to buy back the recorded music division of the British label EMI, said Monday the European Commission on its website.

The operation of some € 1.4 billion would allow the first record company to add to its global catalog Coldplay and Katy Perry for example. But it may be a long and careful consideration of the competition authorities.

In November, Universal said hold 26.5% of global recorded music. By merging its operations with those of EMI, the group would control, in some European countries, over 50% of the market.

The European Commission, guardian of competition in the Union, was given until March 23 whether to grant the green light for the operation.