Current News Headlines

Change in the indices of the Paris Bourse. The Franco-Belgian bank Dexia and media group Lagardere will leave the CAC 40 September 20. They will be replaced by the bank Natixis, a subsidiary of BPCE, and the communication group Publicis. They wait patiently until two values within the index "Next 20", will welcome their places Dexia and Lagardère.

Natixis and Publicis laugh, cry and Lagardère Dexia

Meanwhile, financial markets on Monday welcomed the news: Natixis gaining 3.26% to 4.57 euros and Publicis rose 1.50% to 34.95 euros in a market up slightly at 0.12%.Conversely, Lagardere was down 2.42% to 28.05 euros and Dexia loose 2.03% to 3.37 euros, to 10.30, the two largest declines the CAC 40.

Edenred, company resulting from the division of Accor, the chemist and Rhodia will join at the same time that antechamber of the CAC 40 in place of the services company Atos Origin and Land Regions.

These decisions were taken Friday night by the Scientific Council of the indices of the Paris Bourse. It meets at least four times a year to update the content index. To determine the entry or exit to a value of the CAC 40 are taken into account many factors: the respective weight values, number of transactions, volumes of shares traded and turnover.

ALSO READ:

Ten years after its peak, the CAC 40 fell by half

No matter which option you are considering while doing comparisons of health insurance, you will still want to know you're getting the best price possible, so the easiest way to be sure that's happening is by getting quotes from a variety of health insurance companies.

For the first time since 1980, the number of three public (state, territorial and hospital) have stagnated in France in 2008. Specifically, they rose only 1800postes. From never-seen since 1980. At 31 December 2008, according to report data annually on the Public Service published yesterday, the Hexagon were almost 5.3 million employees, or 20.5% of total employment, and 656,000 more than a decade ago.

The virtual stagnation of 2008 is largely to the credit of the state civil service has continued to decrease in population from 2006. It has eliminated 77,000 jobs last year, including through non-replacement of a staff of two who retire and to continue the policy of transfer of powers to local authorities. This represents a decline of 3.1% of its workforce in a year.France, employs 2.4 million civil servants, 69.5% and 14.1% of holders of soldiers. This total is 1.4% lower than in 1998, representing a decline of nearly 35,000 agents in a decade.

The numbers have declined in 2008 across all departments, with the exception of Justice and the prime minister. The portfolios of Education and Ecology have been most affected by the cuts with cuts respective 43,000 and 23,000 agents. Finally, almost a two-state official now works in education, one in five of Defense and Interior to eleven.

2328euros per month for a state agent

Another finding of the report 2009-2010 on the state of the public service: local authorities have continued to recruit with a vengeance with nearly 70,000 new jobs in 2008.The local civil service now employs 1.82 million people. A total of 3.9% higher than in 2008 and, especially, a surge of 40% compared to 1998. This dramatic increase is partly related to the second law of decentralization occurred in 2003. The regions – which employs only 4% of all local officials – have been particularly intensive public sector jobs as they saw their numbers jump over a decade, from 22.5% on average each year and even 49% per year since 2005. In more than one in four cases, recruitment occurred three years prior to 2008 had nothing to do with transfer of responsibilities from the State.

The public hospital has, meanwhile, was more reasonable since the increase of its workforce in 2008 was four times lower than that of local authorities: 1% over one year or more 10000agents.At December 31, staff of public hospitals accounted for approximately 1 million people. Those numbers have increased, on average ten years, 1.8% each year.

Pay later, an officer of the state received an average of 2328 euros net per month in 2008. An increase of 3.7% in current euros a year and 0.9% after allowing for inflation. Territorial Agent earned nearly 600 euros less and a hospital, 150. In both cases, the territorial and hospital officials have seen their wages decline in net income a year, by 0.6% and 0.1% in constant euros.

ALSO READ:

"An official ruled four months for a pamphlet

"The wages of the public in 2011 frozen

"Performance appraisal removed

Washington announced Friday it had cleared the merger between United Airlines and Continental Airlines. The Department of Justice indicated that the two U.S. companies had responded to his objections to their merger, leaving a number of slots for landing and takeoff at Newark International Airport near New York.

Downstream Europe in July

United Airlines, the third American company, Continental Airlines and fourth, had announced in May their intention to merge under the single name of United. The European Union, the guardian of competition in Europe, had already given its approval to the transaction at the end of July. In a statement, Brussels stated that his investigation confirmed the complementarity of the two companies' networks for Transatlantic routes, since they operate hubs in different U.S. cities."So there will be a marginal increase in market share," concluded the European Union. But a refusal of the United States was to be feared, as authorities in 2001 vetoed a previous merger between United Airlines and U.S. Airways on the grounds that it would reduce competition in the transport sector to the detriment of the public.

Fusion 1 October

The U.S. Department said it had closed its investigation as a result of the merger between the two companies, which gives them the field libre.Dans a statement, the two companies said they expected to complete their reconciliation of by 1 October. By marrying, they hope to better withstand the difficulties faced by the industry today, including the rising cost of fuel and competition from low cost airlines.Together they serve 370 destinations in 59 countries, with a combined turnover of 29 billion dollars, a fleet of nearly 700 aircraft and about 87,000 employees worldwide.

Dropped 6% Eurostoxx 50 in four meetings. -4.5% On the Dow Jones. The stock markets are feeling the pinch since five days after a series of disappointing indicators. But the deteriorating economic conditions may explain in part the decline of recent days. A new phobia stirred since mid-August the community of technical analysts, very active in the Anglo-Saxon: the Hindenburg omen. According to this theory based on statistical observation, when during a single session, a large amount of assets a share price reached its highest level since 52 weeks and another group of shares is in contrast to a low of 52 weeks, then it presages a new crash on Wall Street. This configuration has indeed preceded all the crashes of the past 25 years.Now this rare phenomenon has been observed on August 12 last.

At first glance, the analysis may seem silly, but when we know the possible influence of technical analysis on decision making in trading rooms, the question deserves some attention here. An emphasis on this theory could have the effect of precipitating the collapse of markets by a kind of anticipatory self-fulfilling.

What happened on August 12

On 12 August, the same day at least 2.9% of U.S. stocks from the NYSE reached a peak of 52 weeks, while at least 2.6% of values fell to a low of 52 weeks. This configuration, called "Hindenburg omen," referring to the crash of a German Zeppelin in New Jersey in 1937, would thus poses a risk of an imminent collapse in the New York Stock Exchange.For the scenario is validated, however, requires that the configuration is again within 35 days. However, if one sticks to the analysis of Robert McHugh Marketoracle website, seems to have been the case, last August 20.

More ominously, this type of configuration, which, under certain conditions, would have preceded each of the 25 crashes last year. This was the case before the crash in the fall of 2008. The figure was also present a few weeks before the stock market crash of 1987. We could observe three trading days before the panic of October 1989. With this indicator, the 1990 recession, falling stock markets linked to the collapse of LTCM and Asian crises of 1998 were also predictable.

A highly controversial approach

By looking more closely at the scenario is unlikely to occur. To understand this flag, it must return to basics.The paternity of the Hindenburg omen Miekka back to Jim, who edits a newsletter called the Bull & Bear Report Sudbury. But the very idea of this flag goes back to later, finding its roots in another indicator: the high low logic index, described by Norman Fosback in the 1970s. In his book Stock Market Logic, the American economist, explained why when at the same time, a significant number of shares reached a new high and a significant number reaches a low, markets are likely to decline. This shows that the market is undergoing a period of extreme divergence, which is generally not conducive to future rising stock prices.

But where Norman Fosback had merely simple criteria, proponents of the Hindenburg omen facing a multitude of conditions, which are subject to interpretation, and therefore are not unanimous.That's where the shoe pinches. In practice, it is virtually unenforceable.

Reliable indicators abound in the sense of portent

When the five conditions necessary for the validation of the Hindenburg omen are met, the stock market crash, defined by a rapid drop of at least 15% of stock market indices in the next four months, would then have 30% chance to occur. A contrario reasoning is sufficient to limit the scope of this prediction: if a 30% chance that a crash occurs, there are so 70% it does not happen! This likelihood does not however exclude the possibility of an imminent crash.

This approach also runs counter to the traditional view of technical analysis, which is to banish any source of subjectivity by analyzing the market through simple indicators, not subject to multiple conditions in an attempt to predict the evolution courses in the coming weeks. Technical analysts therefore recommend to always use the same indicators that markets go up or they fold, including the trend of moving averages.These reliable indicators not currently exclude a decrease of 10% to 15% of the market in the coming weeks, as recommended in the Hindenburg omen.

ALSO READ:

"FILE – These securities at record high

»TECHNICAL ANALYSIS – The Cac 40 catches his breath

"All technical analysts of the Journal of Finance

The Paris Bourse hesitated Wednesday

The five conditions of the Hindenburg omen

First, the quota values that cross new thresholds upward or downward has been lowered. For Norman Fosback requires a minimum of 5% of the relevant securities. But for the Hindenburg omen it requires a much lower threshold of 2.5%.

Further, the followers of the Hindenburg omen believe it should be interpreted in light of several other indicators on the conditions of validity of five.The first condition, the most important is that the highest and lowest of 52 weeks. The second is that the moving average of ten weeks NYSE should be increased. Thirdly, the McClellan Oscillator (a proxy measure of volatility) must be negative on the same day. Fourth condition: the highest amount of new 52-week values the NYSE should not exceed twice the amount of new low of 52 weeks. Finally, and this is the fifth and final condition: the scenario must be repeated within 36 days after the first appearance of this configuration market.

The battle over Sunday work in Paris is not over. The prefecture of Paris has indeed refused classification tourist areas of the capital, where normally only stores open on Sundays, Scope of outstanding consumer use (chip), the CFTC said Saturday, confirming a report Le Parisien. A classification that makes all the difference for employees.

The designation entitles them to chip counterparties determined by collective agreement, and failing that, to compensatory time off, salary doubled and the ability to refuse work on Sundays. This classification is written into the law of August 2009 on Sunday work and allowed malls open illegally on Sunday to continue the practice without having to pay fines.

Paris will not benefit from this device."The Prefect of Paris has denied the request of Mayor Bertrand Delanoe to rank tourist areas of the capital as Bullet," the CFTC said in a statement. For the union, this decision is contrary to the promise made by Nicolas Sarkozy, that "those who work on Sundays will be voluntary and paid twice."

The exception "tourist"

The zones of tourist interest are beyond the rule.The Sunday opening of all types of businesses is right, and employees are not entitled to compensatory rest must or a doubling of earnings.

"Once again the argument is made that the law Maille on Sunday is only a law made for large retailers, and this undoubtedly to the detriment of family life, personal and spiritual associations," says the CFTC.

There are seven tourist areas in Paris: Part of the Rue de Rivoli, Place des Vosges and rue des Francs-Bourgeois, Arcola Street, Avenue des Champs Elysees, part of the Viaduc des Arts Daumesnil , part of the Boulevard Saint-Germain, part of the Butte Montmartre.The government wants to see more shops open on Sunday in Paris and proposed a map of tourist areas greatly expanded.

The Socialist mayor blocked the project but on the field, she noted that a growing number of supermarkets began, immediately, to open on Sunday afternoon with impunity.

(With AFP)

ALSO READ

"Paris refused Sunday to department stores

"Delanoe against the extension of Sunday trading

The opening on Sunday is the exception

Lafarge, the group specializes in building materials, has announced a decrease of 3% of its turnover for the first half of 2010. At constant exchange rates and constant perimeter, the decrease amounted to 4%. The operating income showed a decline of 5% to 1.072 billion euros (-9% at constant scope and exchange rates).

Net income from Lafarge withdrew its side of 29% to EUR 233 million. The current operating margin shows finally a decrease of 30 basis points to 13.9%.

In the second quarter alone, sales rose 2% to 4.436 billion euros but, at constant perimeter and constant exchange rates, sales rose 2%. The operating income increased 5% to 836 million euros. It is stable at constant exchange rates and constant perimeter.

At the Paris stock exchange, these ads are unwelcome.The title Lafarge has one of the largest decreases in ACC 40: 3.89% yield at 41.80 euros at the close No fax payday advance.

New measures to reduce debt

Bruno Lafont CEO of Lafarge, said in a statement that "the pace of economic recovery remains uncertain and highly variable from one country to another," led the group to adjust its market forecast for the year 2010. Lafarge table so now on a variation of the demand for cement between -1 and +3% on the year compared to 2009 (against 0% to 5% expected in late March).

The band announced further steps to reduce its debt amounting to 15.16 billion euros (down 1% during the first half).Thus, it will "limit its investments in 2011 to 1 billion euros" and sets "a new goal of structural cost reductions of more than 200 million euros."

The U.S. stock markets continue their advance on Tuesday, as European stock markets and the momentum of the day on Wall Street. At the opening, the indices are green, but increases small. Very quickly, the Dow Jones up 0.37% at 10,564 points, the Nasdaq is up 0.44% to 2306 points and the S & P 500 by 0.44% to 1120 points ..

Yesterday, the market was driven by good news from the real estate sector still observed under the microscope by investors. Sales of new houses in the United States have indeed rebounded more than expected in June, 23.6%. On Tuesday, a new publication, the Case-Shiller index of home prices meets the individual operators stock market is increased more than expected in May in the United States, +0.5%, a move which still reflects a sustained level of sales, helped by a tax credit.The month of May and is the second consecutive monthly increase, a trend that comes after two months of consecutive decline.

Another highlight of the week at the macroeconomic level, 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. But it was the day Friday with the first estimate of gross domestic product (GDP) U.S. second quarter is expected this week.

On the foreign exchange market, the euro continues against the greenback.Around 15:30, the euro was worth just under $ 1.30, but the threshold was crossed earlier.

The ball takes Publications

On the side of values, as BP leads the rating declining by 1.5% to 38.12 dollars in early trade Payday Loan for Bad Credit. The amount of the quarterly net loss of oil exceeds $ 17 billion, a record high. The group is preparing to sell $ 30 billion in assets and confirms the resignation of its CEO.

The U.S. financial services group CIT (-0.21% to 38.92 dollars), which serves a clientele of mainly SMEs, on Tuesday released a second consecutive quarterly profit and announced it had reduced its debt by three billion dollars.The net income was $ 142.1 million, and reported the number of shares equivalent to 71 cents, while analysts were not expecting that 33.

The group has however indicated that he had once again increased its provision for credit losses, bringing them to $ 260.7 million over the period April-June But this element, as well as pay increases decided to retain employees, was more than offset by asset sales, earnings and tax collectors.

For its part, the world's number one defense, Lockheed Martin (1.73% at 73, 17 dollars) Tuesday reported higher quarterly earnings expectations and raised its annual profit forecast by emphasizing buybacks and improved results in the satellites public.Net income for the second quarter was $ 825 million or $ 2.22 per share, against 734 million or 1.88 dollars per share in the second quarter 2009.

Today investors await quarterly results include sitting in the middle of those of DuPont.

Always on the side of values, the European Commission on Monday opened two investigations to IBM. It suspects the group of computer abuse of dominant position on the markets for servers.

The regulation of the financial world is big today. In the U.S., the proposed revised financial regulations would be voted on today in the Senate after the House of Representatives has given its go-ahead in July. Some measures have been abandoned over the debate, as the proposed tax credit, but the final text is still the biggest overhaul of financial regulation since the 1930s.

Meanwhile, a meeting is being held in Switzerland and covers the establishment of new prudential standards proposed by the committee of "Basel III". The objective of these measures is to raise the level of capital requirements at banks to limit to reduce the risk of bankruptcy of these establishments, and limit the risk of traders in the market, including products derivatives.But even the regulators and central bankers seem to make concessions against their original objectives, under pressure from banking lobby. They are afraid that a new credit crisis since experts believe that these new rules would force banks to raise more than 1.000 billion in new capital. The final text must be presented at the G20 summit in Seoul in South Korea, 11 and 12 November.

Reform in Europe delayed

And in Europe, the Twenty-seven have found common ground on how to conduct stress tests that will be published July 23. However, the reform of financial supervision has been delayed over disagreements between the Parliament and the Council of Europe. It should not come into effect before September, according to the Wall Street Journal.

Eighty days after the explosion of the platform Deepwater Horizon BP, while 35,000 to 60,000 barrels of crude continue to flee each day in the Gulf of Mexico, the Administration faces Obama in the oil industry courtrooms.

Latest twist, a Louisiana appellate court has imposed a setback Thursday at the White House. On 22 June a judge in New Orleans overturned the six-month moratorium on new offshore drilling more than 150 meters deep, decreed by the Obama Administration. The magistrate ruled the gel arbitrary, decided by him without consideration for its regional economic impact. The executive has therefore appealed and lost again on Thursday.

Thirty drilling platforms in the Gulf these are now hostage to this legal battle.The cost of leasing a drilling platform is estimated at 1 million per day. As a result of thirty platforms in the Gulf, the bill accumulated over three months would amount to 2.7 billion dollars for companies exploring the deposits of the Gulf. The extension of the moratorium could put 50,000 employees out of work in Louisiana and the neighboring oil states.

Go drill "elsewhere"

Along with judges, elected Republicans deposit burst of bills or amendments to overturn the moratorium. For its part, the British government also said to be opposed to a freeze of all offshore drilling and focuses on a case by case basis. "We will not allow drilling until we have no assurance that the plans for all wells (…) represent what can be done better," says the UK Department of Energy.

Already, several U.S. companies threaten to go elsewhere to drill. "If the moratorium is maintained, we will have to redirect our resources to other parts of the world we are authorized to work," says one at Exxon Mobil, the first American company. In the U.S., the oil sector is characterized by the presence of a multitude of small companies, which bore alongside the majors. Thus, Swift Energy, based in Houston, told AFP that she was going to drill more in Texas, on land, at the expense of its operations off the coast of Louisiana.

In California, oil companies had rejoiced the green light to drill offshore, given by Barack Obama just days before the spill.The disaster has brought back the White House on this concession to the oil lobby for support of allied Republicans in Congress on the draft energy law discussed step by step for over a year. The company Venoco, which had projects off California, will focus on its land drilling. Problem: the volumes available in the ground are much lower than those buried under the ocean floor.

The courtroom of the courthouse in Paris, which houses the trial of Jean-Marie Messier called the auction room. Logically, during several recent financial trials, its walls were then vibrated to the sound of indictments handed in a loud voice, with, the key as auction, claimed to increase penalties in the form of year in prison or heavy fines.

On Wednesday, the auction room was very bad name. The remarks of the prosecutor of the Republic, Chantal Leyris were largely inaudible, the magistrate refused to use the microphone placed at his disposal. And the prosecutors took over the reasoning that led, last year, after investigation, to claim a non-place.But the word "relax" is heard, the prosecution did not request any penalty against former executives of Vivendi Universal.

Jean-Marie Messier, and a good portion of men who formed his staff at the head of the company, is considered from the beginning by the court. The legal case focuses on communication triumphalistic group, become a giant media and communications after its merger with Seagram, which controls including Warner Music. From the first day of the hearing, the former CEO has expressed a mea culpa about its "excessive communication."

On Wednesday, early in the indictment, the prosecutor concurs: "The Vivendi is not an Enron.This is not a fraud organized by the President. "Legally, the prosecution highlighted several weaknesses in the case conducted by the magistrate:" The element of intent was not taken into account in the definition of the crime . Or, on the issue of price manipulation, "Mr. Messier was referred to the court taking into account only the only conclusion of the sanctions committee" of the COB (now AMF). On the merits, Chantal Leyris exempts Jean-Marie Messier on several points. "There is ample evidence, she believes, for example, that the movements in the price of Vivendi September 25, 2001 are due to the normal balance of markets."

The defense of the accused must be expressed from this Thursday.It will do a similar tone, even if it is this time the tenors of the bar who give voice.

The reaction of Didier Cornardeau, president of the association of small shareholders assets: