Archive for June, 2010

EADS wants to ally with Embraer

Auto Date Thursday, June 10th, 2010

EADS is very interested in the Brazilian aircraft manufacturer Embraer, reported the German press, including the German site FinanzNachrichten.de. "We really wanted to create a partnership with Embraer," said the head of EADS, Louis Welsh Wednesday at the Berlin International Airshow. He added that he "discussed with the third largest global aviation" without giving further details.

"We know that we come to the end of the duopoly" of medium-haul aircraft, "said Louis Welsh. "China with Comac C919 and Canada with Bombardier C Series are direct competitors" of the European EADS and Boeing pay day loan lenders.For its part, Embraer, Brazil's flagship manufacturer, specializing in regional aircraft, also plans to expand into the lucrative market for medium-haul, according FinanzNachrichten.de.

Louis Welsh has also announced plans to fierce competition with Boeing to win the mega-tanker contract to the United States and twenty A380s would be delivered this year.

Rodriguez's boss in custody

Auto Date Wednesday, June 9th, 2010

Rodriguez Group is again in turmoil. This time, the manufacturer could suffer Cannes Yacht spreads its president, Alexander Rodriguez. The leader is in fact part of the twenty people arrested during the weekend in a vast crackdown against organized crime in Marseilles. The man is still in custody.

The arrests took place in the Alpes-Maritimes and in particular on Saturday on a luxury boat that belongs to the group Rodriguez, said Le Parisien.Four yachts and 200,000 euros have been seized, including forged documents, handguns, ammunition, credit cards, vehicles and luxury watches.

The judicial inquiry was opened on January 25 against X by J. Philippe Dorcet of interregional specialized court (Jirsa) from Marseille for "violation of the laws on gambling, conspiracy, money laundering by organized crime, extortion in an organized and non-justification of resources.

A case that still hangs over the title of the group fell by 9.1% in late morning in a market decline of more than 0.9%. Action Rodriguez has been losing ground since the resumption of its listing in April, a decline which is close to 40%. Hard hit by the crisis of the craft, the group was in fact released the document last year following the establishment of a backup process that ended in April.

Azria and resume Berggruen Karstadt

Auto Date Monday, June 7th, 2010

The tandem between the group of ready-to-be Los Angeles-based French BCBG Max Azria (20%) and the German financial Nicolas Berggruen has been chosen by the justice of the Rhine to Recapture the large department store Karstadt , a former subsidiary of Arcandor bankrupt. These candidates were preferred to Goldman Sachs, an investment fund and the Swedish retailer Metro. They indeed offered the best qualified bidder, taking up the entire fleet of 120 stores (an area of activity of 3.6 billion euros), with their 26,000 employees.

They got a favorable vote by the committee of creditors and union Ver payday loans online.di. "No closures are planned for the moment," said David John, director of international operations of BCBG Max Azria.Max Azria welcomes this "unique opportunity to redress this company and make the pearl of German trade. The investors immediately invest 70 million euros in the case, including 5 for the capital and 65 to supply working capital. They plan to inject then 60 to 80 million euros in the case for four years to restructure.

In Thailand, growth after the chaos

Auto Date Friday, June 4th, 2010

There is an air of revenge in the frenzy of cleaning the streets of Bangkok abused, fairs and giant group sessions of aerobics. After more than two months of antigovernment protests of "red shirts" and the bloody riots that have 86 dead and 1900 injured, the city will press to find a normal appearance.

How the country will he recover from such chaos? Surprisingly, economists show optimism about growth forecast for 2010 gross domestic product. There was consensus on a range of 3.5 to 5%, the central bank expects 5.8% and DBS Vickers Security goes up to 7%. In short, the worst political violence the country has known all his modern history should cost only 1.5 percentage points to growth."In Thailand, the political and economic living a separate life," said Pascal Furth, head of the Economic Mission in Thailand.

Between the destruction of neighborhoods and declining activity, the cost of violence would amount to 1.5 billion euros. And as the war scenes in the heart of Bangkok are very compatible with tourism, hotels are empty, their occupancy rate is capped at 15% and the inputs of holidaymakers have fallen by around 30% in recent days.

Tourism stranded

The tourism sector represents 6% of gross domestic product and employs 15% of the population, "will at a minimum six months to recover," said Kamonwan Wipulakorn, vice president of the Erawan Group. The trade association of the place Ratjaprasong $ 4.3 million daily losses of companies in this upscale neighborhood.And for small traders, now sweeping broken glass and make inventories of their shops looted, the losses will be difficult to absorb.

But the crisis was limited geographically in central Bangkok and tourism and distribution.

"Increasing uncertainty is not likely to affect the macroeconomic fundamentals and financial," says Supavud Saicheua, an analyst at Patra Securities. For "the Thai economy which depends heavily on exports experienced a significant rebound in 1st quarter (12% growth yoy).

The medium-term implications on foreign investment are difficult to measure. No French company does its presence in question. But the office of investments foresaw the end of April (before fighting) a decrease of 15% of foreign direct investment for 2010.

Before the performance insolent Exchange, the baht (local currency) fort, the historical record in tourist arrivals (4.7 million) of the first quarter, "The one thing to watch in Thailand is the force with which is being implement the government's stimulus plan. The first half of the fiscal year, only 40% have been disbursed, "said Pascal Furth.

Messier: "I certainly made mistakes"

Auto Date Thursday, June 3rd, 2010

"J2M" began to make his mea culpa Wednesday, the first day of his trial for abuse of social goods, price manipulation and dissemination of false information. While the association of small shareholders assets (Appac), who complained there were eight years ago, hopes "to obtain fair compensation for the damage" suffered, Jean-Marie Messier and six other leaders also considered likely in the coming days , from the Paris Criminal Court, up to five years in prison and heavy fines. At issue: the strategy and management of Vivendi when J2M was on his head.The shareholders have been misled about the financial health of Vivendi Universal, before being released in July 2002 a debt of a staggering 35 billion euros, as reiterated at the hearing this Wednesday Didier Cornardeau, President of Appac? Jean-Marie Messier, milled in the United States in January of the charges, defended himself Wednesday, while acknowledging "have certainly made mistakes."

"Provocations"

"In looking back, some decisions I have taken, we have taken, were not the best," he admitted Wednesday in court. Accused in the 2000s to suffer from megalomania and delusions of grandeur, while Vivendi absorbed the Canadian Seagram and thereby Universal, scorned by Guignols of Canal + as "J6M" for "Jean-Marie Messier, Myself Master World "J2M appears today on these critical years of glory.He concedes "excesses" in communication that have appeared as "provocations". He also admits having committed a strategic mistake about the spectacular development of Vivendi. If the idea of a group based on the convergence between communications tools and content it still seems, however, so it was too early, given the technological level of the times, "said he. Yet he denies knowingly led the group to its loss. "I always, when I made the decisions, with the elements that I had tried to take based on the interests of society," he pleaded. The question is whether the court will be sensitive to this new modesty.

Didier Cornardeau, president of the Association of Small Holders assets, says what he thinks the microphone ITélé:

Pensions: Strauss-Kahn takes his distance Aubry

Auto Date Tuesday, June 1st, 2010

Dominique Strauss-Kahn takes publicly distanced himself from the Socialist Party. "We live 100 years, we will not continue to have retired at 60 years," he hammered on France 2. After the Socialist Party presented its project strongly defends the legal age of retirement at age 60, the Director General of the International Monetary Fund now stands out clearly from his fellow Socialists.

"I do not think we should be any dogma. The world is rapidly changing and we live in globalization, which has advantages, disadvantages, but it's reality, we must consider that, "Dominique Strauss-Kahn band who believes, however, that the life expectancy and the hardship must be taken into account.

"We have to work longer '

On pensions, "there are several ways of doing things in a way that is quite obvious in many countries is to say if you get older longer, we must work longer," said the Director General IMF, whose taped interview in Washington on Wednesday was released Thursday during the program "You Be The Judge" on France 2.

"Differentiation, from my point of view, is legitimate, because lives are not the same, there are more worn, more tired, and others, by contrast, may continue to work old enough much more ages than one would have imagined a decade or two ago, because today it is shaped much older.

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