The cloud computing continues to attract IT companies. A week after Dell announced it planned to buy the company for data storage, 3PAR, his rival, Hewlett-Packard (HP), outbid on Monday on supply Dell. HP has made an offer of 1.6 billion dollars (1.2 billion euros), against 1.15 billion dollars (894 million euros) for Dell. The proposed transaction represented by Dell when it announces a 87% premium over the closing price of 3PAR. An advertisement that has boosted the share 3PAR over 40% to 25.35 dollars in a market up 0.27%.And while, to 3:35 p.m., Hewlett-Packard lost 0.13% to 39.80 dollars.

Transaction close by the end of the year

HP recently rocked by the resignation of its CEO Mark Hurd in early August, said that the board had approved the transaction faxless payday advance. The closure of the transaction is expected before the end of the year, the company said.

This acquisition would allow the IT group to extend its range of storage products for the cloud computing (cloud computing) and to support its service activities, like other industry heavyweights like IBM, they which tend to generate higher gross margins than sales of computers.

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Saffron is still on track, despite the rejection by the supervisory board of Zodiac's merger offer sent July 6. "We stand by our proposal. It is the shareholders to decide Zodiac. We were very surprised that the leaders of Zodiac reject our proposal without seeking to fathom, "says Jean-Pierre Cojan, Deputy Director General of Safran, head of strategy and development.

The group led by Jean-Paul Herteman no plans to launch a takeover bid (OPA) hostile Zodiac. "I'm not sure that the interests of our shareholders would be served by something other than what we propose, namely to gather around the table. We have no idea at this stage other than to repeat the proposal that was made there about ten days, "says Ross McInness, Chief Financial Officer of Safran.In the letter received by Didier Domange, chairman of the supervisory board of Zodiac, Jean-Paul Herteman, CEO of Safran, simply wrote that he proposed an exchange of securities and cash to the shareholders of the Zodiac. But he has not made any proposal encrypted. Saffron has a market capitalization of about 9 billion euros. The Zodiac is 2.4 billion.

For the moment, everybody sticks to his guns. The leaders disagree on everything. Zarrouati Olivier, CEO of Zodiac, ensures that the merger would have only "limited synergies" from the industrial and it would not "create value for shareholders of Zodiac.

The state voted for

Saffron, which produces both engines as landing systems, but rather emphasizes the importance of synergies."This merger, which we have thought for some time, makes sense for several reasons, technological and industrial pay day loan lenders. The major clients such as Airbus and Boeing want to work with a limited number of suppliers. The consolidations that have occurred recently demonstrated. There are also synergies in terms of after-sales services. Bringing after-sales services of both companies would share their infrastructure, "says Jean-Pierre Cojan.

Olivier Zarrouati observes that marriage between a heritage whose key shareholders are families Domange Marechal and Gerondeau and the ISP (about 5%), and Saffron which the state holds 30%, is doomed to failure."Safran has not demonstrated in the past its ability to integrate different corporate cultures," he says in an interview with Voices. "Saffron, which is a company that makes money, has demonstrated in the past how much he knew of successful mergers and acquisitions," argues Jean-Pierre Cojan. Saffron has certainly been significant difficulties for the successful merger decided in May 2005 between the public group Snecma and Sagem private enterprise. But he has found new life since the appointment of Jean-Paul Hertelman in September 2007 at the helm. And in a sector as sensitive as aeronautics, its acquisition strategy is approved by the State. When the supervisory board has agreed unanimously to a merger with Zodiac, the representatives of the state voted for.And while interest in the Zodiac, the group remains on the lookout for other acquisitions.

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Secretary of State for Housing returns including the removal of stacking individual housing for students and the half-tax share for dependent children.

LE FIGARO. – Do you react when prices of the older building are divided on the rise?

Benoist appeared. – These price increases are not good. What can be done to curb them? First, hire a real estate policy. Today, there is not enough land available. And that contributes to higher prices. We are moving ahead on the transparency of real estate prices. Currently, there are so many statistics that no one is confused. To provide clarity, we label the most reliable statistics. Finally, we are working on increasing housing supply in areas strained.Because if prices rise faster in Paris (15% in one year) than in France (+8.5%) (as Century 21, Ed), is that supply is insufficient. For example, in the next aid reform homeownership, people who buy new in the tension zone will be helped more than those who buy into the old to the same place. This will encourage developers to produce more housing.

The removal of stacking individual housing for students and the half-tax share for dependent children is debatable. Why did you make that decision?

It's a fairness issue. Families choose the device which is more favorable. The PLA is the only student for personal housing without means testing. Today, 535,000 homes add to the LPA half share in the income tax.Obviously, this does not affect the poorest households, who pay no income tax. And the higher the income, the higher the benefit of the half-tax share is important. We wanted to put an end to this combination. Now he must choose between the PLA or the half-tax share. According to our estimates, 70% of households will retain the PLA, the more financially attractive. This measure will come into effect in September 2011. And allow the state to save $ 200 million.

The contribution of EUR 340 million requested for social landlords has also brought controversy. How do you explain that?

This measure allows the equalization of implementing a major goal: to build more where the needs are! Of the 800 social landlords, 10% to 15% build and invest very little. In the middle, we call them "plump dormant.Especially we ask for them in 2011 an effort of solidarity to implement this equalization of 340 million euros. These amounts will be redistributed to many social landlords who build in areas where land is expensive and where the needs are increasingly important. For this contribution does not result in an excessive increase in rents, I hope the IRL (benchmark rents) is now a target growth that social landlords will not exceed.

How do you respond to social landlords who say it will lead them to build 20,000 homes in less than in 2011?

In late 2008, donors had social capital of 6.5 billion euros. That still leaves them real freedom of maneuver. Furthermore, the terms of participation and redistribution of these 340 million will be discussed with the world HLM.But we will maintain our high level of funding for social housing with government intervention 10 billion.

In 2011, Action Housing (formerly 1% Housing) Will there still subsidized to the tune of 1.25 billion euros the National Housing Agency and the national agency for urban renewal?

Yes and it's not a surprise. This contribution of 1.25 billion was provided for three years from 2009 to 2011. This will keep the government's commitments in the fight against fuel poverty, urban renewal, renovation of old neighborhoods and degraded fight against substandard housing. Already, we are discussing with Action Housing to determine its future contributions. And we have no plans to increase it.

The Sony Ericsson Yendo

The government wants more than ever, give pledges of seriousness on the issue of deficits. On 20 May the Head of State had announced its intention to amend the constitution so that every elected Government embarks on a path of structural balance is imperative, as well as on the date on which the balance of government finances public must be reached.

Without waiting for the amendment of the constitution, Francois Fillon took the lead. In a letter that the Prime Minister has just sent to members of government, he asks them to "stop inserting provisions that affect tax revenues or social security in ordinary legislation.A real revolution!

For material already deposited and bills not yet been discussed, the prime minister asked his ministers "to submit amendments for the deletion of such provisions and to oppose a negative opinion of the Government any amendment which would tend to introduce. Members of the government "shall not in any way rely on the wisdom of Parliament," wrote François Fillon.

Fillon finally asks ministers to screening assessments for all tax provisions that they want to introduce the draft budget law or draft law on financing social security. All this will lead ultimately to limit the creation of new tax loopholes

Meeting in Brussels, the Heads of States of the euro area have finally approved the activation of the financial assistance plan 110 billion euros to Greece three years. Moreover, on a French initiative, they announced the establishment of "a Community mechanism to intervene" to help their country would face financial difficulties and this, in order to preserve financial stability in Europe. More specifically, it would be a fund to help countries threatened to defend the euro.

According to government sources, the European Commission could contribute in the form of loans to the tune of 70 billion euros. The European Central Bank (ECB) will also participate. "All institutions are determined to act," said Nicolas Sarkozy simply at the press conference that followed the discussions."We will not let destabilize the euro zone for behind, there is the growth of European jobs," he said.

The Heads of State and Government decided to convene a meeting Sunday of finance ministers across the European Union to finalize the operation and financing of this novel device, which forevermore assembly developed for Greece . "On Monday, the mechanism will be operational," said Nicolas Sarkozy, sending a signal to markets still very upset.

"We will do whatever it takes to defend the euro," piped up the European Commission President Jose Manuel Barroso.

Pressure on ECB

The other track would be mentioned that the ECB buys bonds issued by states of the euro area, to provide them in exchange for cash.According to the same diplomatic sources, the European Commission would now pressure on the ECB to make sense in a concrete proposal to support the euro area. In their draft agreement, the leaders of the Eurogroup, however, have said they support "full action of the ECB to ensure the stability of the euro area.

Monday, lcette last announced it would accept the Greek debt as collateral for its loans, regardless of their credit ratings. Extending this unprecedented step for all countries in the euro area "would be a strong signal to markets" would have said the president of the European Commission Jose Manuel Barroso. But on Thursday, the ECB said it had not considered.

At the meeting this Friday, the president of the European Central Bank, Jean-Claude Trichet, have estimated that the eurozone faced a "systemic crisis".

Tighten fiscal discipline

The euro zone leaders agree at least on the need to tighten fiscal discipline. A commitment to ensure that "Greece is not only to reduce its deficits, but that we work so that all the Stability and Growth speedy again respected," said German Chancellor Angela Merkel in Brussels. "The leaders will do whatever it takes to meet budgetary targets," says the text of the draft agreement. A penalty system "more efficient" will be established.The European Council President, Herman Van Rompuy, reported that an agreement between heads of state had been reached for "a strengthening of economic surveillance and policy coordination."

Finally the sixteen Heads of State and Government reiterated their determination to "move quickly on the regulation and supervision of financial markets. They also insist on the creation of "a European rating agency.

Barack Obama supports the EU

Moreover, since the White House is that Barack Obama supported the European heads of state on Friday. "I made it clear that the United States supports these efforts and will continue to cooperate with EU authorities and the IMF during this critical period," he said, after talks with Angela Merkel.

American concerns grew at the same time as the market stress. Wednesday, Charles Plosser, a leader of the U.S. central bank (Fed) has assured that "the economic recovery of the U.S. could be delayed by a further turmoil in financial markets. Recent events in Greece are one of the factors likely to influence the evolution of the U.S. economy. "

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The concern is strongest on Wall Street. While the Greek parliament adopted the austerity measures required to pay using the EU and the IMF, the American financial markets plunge. The Dow Jones fall at the close of 3.21% to 10,520.32 points, the Nasdaq lost 3.44% to 2319.64 points and the S & P 500 3.24% cowardly to 1128 points.During the session, the markets have even panicked: the Dow Jones has suffered a historic collapse of 9% and the Nasdaq is up 8.85%! But according to CNBC, a single error in a large trading company was behind the short dip seen between 14 hours and 15 hours …

Strengthening investor panic, the spokesman for the White House said the reforms, as austerity plan imposed in Greece were "important" but they "take time".

"The situation in Europe has a low potential impact on the U.S. recovery. But this remains an important market for import and export for many countries and the euro is the second currency of international transactions, "says Fred Dickson, chief investment strategist at Davidson Cos.."We all know that we also have budget problems and deficit," warns Jay Suskind of Duncan-Williams, implying that the United States themselves might be affected.

Again, fears of contagion go before the national indicators. However, good news came on the employment front. Entries weekly unemployment declined in the United States during the first week in May, against 444,000 451,000 the previous week, according to the Department of Labor. Economists had expected jobless claims averaged 440,000.

In addition, productivity gains of U.S. companies have been higher than expected first quarter. Productivity increased 3.6% over the fourth quarter, while analysts expected an increase of 2.5%.

The euro plunged again

The euro sank under $ 1.26 for the first time since March 2009. The European currency, which was still worth $ 1.33 last Friday, has broken the symbolic threshold into this new 20:45.

Investors were disappointed by the decision of the ECB to keep interest rates unchanged, while some wanted the European monetary authority takes steps to stem a possible contagion of the Greek debt to other countries the euro area paydayloans.

And the fences in the bright red of the European markets do not help matters.

Oil tumbles

Oil prices fell for the third straight session Thursday in New York.On the New York Mercantile Exchange (Nymex), a barrel of light sweet crude for June delivery ended at 77.11 dollars, down from 2.86 dollars the previous day. Over the past three sessions, he accumulated a dip 9.08 dollars, or 10.5%.

"This is entirely due to macroeconomic concerns," said Ellis Eckland held, independent analyst. "The debt crisis in Europe would clearly be negative for economic recovery in the world, especially in Europe."

Freddie Mac and distributors troubled markets

On the side of values, Freddie Mac has asked yesterday in federal funding additional $ 10.6 billion the U.S. Treasury. At the end of 2008, the Treasury has pledged to cover an unlimited losses for Freddie and Fannie until 2012. This new application brings to more than $ 61.3 billion total spent on federal aid to rescue Freddie Mac.In trading, the shares drop 6.24% to $ 1.34.

Retailers Costco Wholesale Corp. and Gap reported sales difficult last month, up just 0.5% for the first and were down 3% for the second comparable basis. Consequence: their respective securities fell by 3.86% to 58.03 dollars and 7.17% to 22.91 dollars.

In their wake, Target was down 1.86% after publishing sales down 5.9% in April against 2.3% expected by the markets.

The telecom equipment maker, JDS Uniphase (-20.15% 10.94 dollars) has announced a loss of 11.9 million (101.7 million against last year). The sales were above expectations at 332.3 million dollars.The company said stronger growth in its order book for 2 years in the first quarter

The security software vendor Symantec (+1.72% to 16.53 dollars) announced a profit of 184 million dollars and the video game publisher, THQ, significantly reduced its losses to 10.4 million against a deficit of nearly $ 100 million last year.

The CBS group (-4.49% at 14.88 dollars) recorded a loss of posting $ 26.2 million for a turnover of 3.16 billion.

A few minutes after playing the ukulele, billionaire Warren Buffett held a highly anticipated speech on his views on the matter Goldman Sachs during his famous annual general meeting of shareholders of his holding company Berkshire Hathaway.

If prosecution by the SEC (Constable American Stock Exchange) fraud linked to subprime * from Goldman Sachs, now coupled with a criminal investigation, has reopened the debate on capitalism in general and the behavior of banks in particular, "said the sage of Omaha supports the weight of the world's largest bank, in which he invested in September 2008 – is in financial crisis – some five billion dollars.

Before 40,000 investors whose excitement gave way to silence, the star of finance has given quite a boost to the credibility of Lloyd Blankfein, Goldman Sachs boss – who is still not at the end of its penalties – and his bank, which suffers in the stock exchange since the complaint the SEC on April 16: From U.S. $ 184.3 to 145.2 dollars, the stock has tumbled 21.3%, of which -9.4% Friday while S & P advised to "sell" the securities.

Also in humor, Warren Buffett, who is seeking a successor – he will blow his 80th birthday next August – will be delighted that Lloyd has a twin brother "to select it.More seriously, without giving names, Warren Buffett assured that if he died tomorrow, there would be "a new CEO within 24 hours."

Accepting mistakes

"It's a little hard for me to have much sympathy for a bank that has made the wrong choice," he said, referring to financial institutions that bought the famous product Abacus created by the young French Fabrice Tourre .

Certainly, the financial product was very complex, but, as the guru, a bank like ABN Amro knows what she does when she made a "deal". But this one has not made the expected result for the Dutch establishment. We must assume, for Warren Buffett.

The fault with the regulations, not banks

While the banking sector reform in the United States wades, Warren Buffett believes that this regulation is responsible for the financial woes in recent years, not the banks.

According to Deputy Buffett, Charlie Munger, who spoke on Sunday, "the problem is that our banks and investment banks are regulated by a combination of permissiveness and stupidity." For him, the bankers are problems like tigers escaped circus gone mad. "It's that idiot guard tiger who has not made the job" summarizes the investor. "The regulatory system of government has deceived us."

Berkshire Hathaway goes green

The Berkshire Hathaway investment fund billionaire is ironed in the green in the first quarter with net earnings of $ 3.63 billion, while filming a loss of 1.53 billion over the same period a year earlier ."These results show that the economy is showing signs of significant occasions for the first time," concluded Warren Buffett.

Announced Saturday, these preliminary figures attest to the vibrancy of its business in derivatives, which revives the profits from 1.41 billion dollars, while the loss was $ 3.24 billion in the first three months of the year.

Operating income rose 30% to 2.2 billion dollars against 1.7 billion a year earlier.

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The support of the U.S. central bank was not enough. Despite the fact that the Fed has confirmed the continued low interest rates, the Dow Jones closed down 0.04%, while the Nasdaq gained 0.30%.

The Fed keeps rates

After the good news on the U.S. employment front, Friday's announcement of keeping rates low is another positive news for the U.S. economy.

Apple announced it had sold more than 300,000 iPad Saturday for the first day of marketing. This figure included the taking of orders. Analysts had forecast sales of between 250,000 and 350,000 units over the entire weekend.Following this announcement, several analysts raised their price target on Apple (0.44% to 239.50 dollars).

The companies that provide components for the digital pad Apple could also benefit from the craze for iPad if it is confirmed. This concerns in particular Samsung Electronics (4.09% to U.S. $ 256), Broadcom (-0.66% to 34.40 dollars) or Texas Instruments (-1.34% 25.05 dollars).

The Wall Street Journal, the U.S. software giant Microsoft (+0.17% to 29.32 dollars) plans to unveil a new range of mobile phones next week, with features of socialization designed to attract young consumers.

"We have a banking sector in very difficult position since September 2008. On the airwaves of public radio RTE, the Irish Minister for Finance Brian Lenihan announced a massive bailout about to upset the Irish financial sector. His government is preparing to take effect in banking reform to rid the system of 81 billion euros of toxic assets from the Financial Times. The information was officially confirmed in the afternoon.

16 billion euros at a discount of 47%

To carry out this project, the Government should announce the creation of the National Asset Management Agency (NAMA), a bank created to buy their rotten assets, mostly mortgages risky accumulated before the bursting of the credit crisis.Initially, the NAMA buys 16 billion euros in loans at a discount of 47%.

Paral?lle be completed a recapitalization plan. According to analysts, banks would need 15 to 20 billion euros while strengthening their own funds. They could throw a party the money itself, by making asset sales. In return, the rules will have to be modified. The banks should strengthen their Core Tier 1 ratio to bring it to 7%. "We must put our banks in a situation where they will be able to finance themselves with confidence on the international markets," said Brian Lenihan.

The government should give more detail on Tuesday late afternoon.

Wave of nationalization

At the Dublin stock exchange, these ads and the suspense that surrounds them, are very unwelcome. Around 16 hours, the action Allied Irish Banks (AIB) loose 5.59% to 3.38 euros.Bank of Ireland (Bofi) lost 9.40% to 1.25 euros guaranteed payday loans. Already Monday, the shares of banks had been abused.

Investors are concerned because the wave of nationalization or increased state participation in banks suggests that such a plan. That recapitalization by the government should increase its stake in the bank (AIB) to more than 70% against 16% currently. The competitor in its Bank of Ireland (Bofi) should rise to 40% against 25% today. The state had already acquired shares having salvaged their coffers 3.5 billion euros.

The Anglo Irish Bank had already been nationalized last year.The government could also take control passage of two credit institutions Mutual, the Irish Nationwide and EBS.

Ireland under surveillance

Global markets keep an eye on the reforms undertaken in Ireland. The country is indeed one of the most affected by the crisis. In 2009, economic activity has suffered a fall of 7.1% and the country is still not out of the recession. The government keeps its hopes for recovery in the second half of this year.

According to analysts, if this ambitious plan than the original amounts provided by the government, this could affect the country's sovereign debt. Just as Greece, Portugal or Spain, Ireland through debt problems which have already led to a program of fiscal restraint in December.At 11.7% of GDP, the budget deficit is currently the largest after that of Greece which was 12.7%.

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