It's official: the economy in the euro zone will be better than expected. The European Central Bank has acknowledged Thursday by raising its growth forecast for 2010 and 2011. According to new figures, the business would grow in 2010 in a range between 1.4 and 1.8% from 0.7% to 1.3% estimated earlier. By 2011, growth would be between 0.5% and 2.3%, against +0.2% +2.2% previously.

"The range of real GDP growth this year has been revised upward due to stronger than expected rebound in economic growth in the second quarter and better than expected trends observed during the months of summer," explained the ECB president, Jean-Claude Trichet."For 2011, the band has also been revised up to reflect mainly the lingering effects of the stronger growth expected in late 2010."

Uncertainty

Despite these upward revisions, "uncertainty continues to prevail," said Jean-Claude Trichet nuanced. On the other hand, "the resumption of activity should be constrained by the process of balance sheet adjustments in various sectors and the prospects of the labor market."

Especially, the growth differentials are widening between the different countries of the eurozone, economists noted. When Germany led the run with 2.2% growth in the second quarter, Greece sinking into recession with a decline of 1.5% of GDP. Same trend for national unemployment rates. In these circumstances, the ECB's strategy looks complicated.

This is not a problem, "replied Jean-Claude Trichet: the Fed, the U.S., is in the same position for decades with 50 states. "Over the past decade, the lowest growth of a U.S. state was 0.9% (Ohio) and the highest 4.7% (Arizona). We observed the same discrepancy in the euro area over the same period, "argued the president of the ECB. Same thing for the unemployment rates have spread from 3.5% to 14% depending on the states. Again, we found the same range in the Eurozone. "

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Pernod Ricard has raised its annual forecast for Thursday operating profit due to improved economic conditions. The group of wines and spirits brands owner Ricard, Absolut, Havana Club, said in a statement that its sales showed a growth of 2% at constant exchange during the year ended June 30

Pernod Ricard said however that "given a negative foreign exchange impact of approximately -1% (turned positive in the second half) and a perimeter effect of -3%, primarily related to sales of brand Wild Turkey and Tia Maria, 2009-2010 turnover was slightly down -2%.

He added: "The year was marked by an economic improvement over that of last year, especially during the second half. Pernod Ricard has continued to benefit from its broad portfolio of premium brands. "

Turnover increased by 9% at constant scope and exchange in the second half, with growth estimated at 3% in the fourth quarter alone. Pernod Ricard said that Asia and Latin America are "remained very dynamic." The improvement trend continued in Eastern Europe, the United States and Duty Free markets. The activity continued to decline overall in western Europe (particularly Spain and the United Kingdom, and more recently in Greece). "

For the full year, the company is now targeting organic growth in operating profit of between 3% and 4%, while it expects an increase of 3% previously.

The turnover and the final results of 2009-2010 will be published Sept. 2.

The expectation of employees is very high, but the room for maneuver because it does not turn a ship as France Telecom as a racing boat. Stéphane Richard will therefore have to show all his talent to convince and mobilize, after months of crisis, France Telecom on its new project.

After requesting a "right of inventory" since taking office in March, the new strong man of the group presented on Tuesday his union business plan for France Telecom.

The economic, strategic and commercial details will be this Wednesday from 10:00 am to 16 30 to Saint-Denis (Seine-Saint-Denis) with a thousand top managers of the group, and journalists on Monday.

France Telecom insists that it is a collective project "coconstruit" with managers, employees, social partners, which have many meetings and other working groups in recent months.But the fact remains that everyone expects to see "leg" of the new boss, his strategy for France Telecom and its vision of the role of the operator, particularly in the content.

Highly anticipated the level of recruitment and the amount of investment, two key points, Stéphane Richard was evasive. He could announce additional recruitment Monday over 3500 planned for this year. "But the question of investment will remain raised until they fail to break the grip of dividend imposed the state shareholder. France Telecom has paid $ 3.5 billion dividend, "Sebastian responded Crozier. "The unions are a bit disappointed because we expected the dream of enthusiasm.But the good thing is that it makes every effort to revive the son of social dialogue, "he says.

"The people at the center"

"This project is out if only because it places people at the center because it reflects poorly on the ski-being in the company, the need to regain autonomy in work, "said Dominique Glemas, delegate SOUTH. "Budget allocations will be reallocated to the working conditions, simplification of information system. We are truly in a break with the era of Didier Lombard, very centralized. The priority now is to customers and employees, "said Lawrence Rich, CFDT delegate.

Beyond the social question, the new group project should also include an industrial component, including investments in the network, particularly in the fiber network allowing access to Internet broadband."Stephane Richard told us that the network should resume its former glory," said Lawrence Rich. A major project which has the advantage of restoring momentum to the technical teams throughout. "But the leeway to invest are reduced. From a financial point of view, money is not there. It would invest 10 billion over several years, yet we hear of two billion euros. From a regulatory standpoint, the group is forced and does not build the network to its competitors, "observes Patrick Ackermann, delegate SOUTH.

Internationally, the group does not seem likely to engage in large mergers and acquisitions. But he will pursue an active policy of development in emerging countries, primarily in Africa.

The Sony Ericsson Yendo

The U.S. stock market should resume a little high on Monday. The index futures are predicting a slightly higher opening of U.S. markets. The index futures Standard & Poor's 500 and Nasdaq 100 advance respectively from 0.20% to 1 185.80 points and 0.25% to 2003.80 points. Friday, Wall Street finished the week sharply down. The Dow Jones and Nasdaq had lost 1.42%, respectively and 2.02%.

Friday, financial stocks have been penalized by the judicial proceedings against Goldman Sachs. The action of the merchant bank has plunged nearly 10% Friday it swept away its main competitors.For his part, the technology sector has suffered from disappointing results of the McAfee antivirus editor (- 12.1%) and manufacturer of components for computer chips MEMC Electronic Materials (- 18.6%).

From the values listed today, Continental Airlines and United Airlines have announced their merger by exchange of shares. The two brands will be retained but the company will be the first on American soil with 21% against 20% of lines for Delta.

Most companies (62%) of the Standard & Poor's 500 have now published their results. And the ads businesses emerge well above expectations. Over 80% of companies have announced earnings per share higher than the consensus and 73% of sales above expectations.

This week and major publications are rare.Note, however, Pfizer will announce its quarterly accounts tomorrow, CBS and Time Warner on Wednesday, Kraft Foods and Sara Lee on Thursday and Friday FC Industry.

The eyes of investors will focus on the macroeconomic indicators. The ISM surveys today and Wednesday and those on the job Friday will be the leading indicators of the week. Today on Wall Street, investors will also monitor expenditures and household incomes in April construction spending in March and sales of automotive sector in April in the afternoon.

On the foreign exchange market, the euro lost some ground against the greenback, but morning but remained above the threshold of $ 1.32, despite concerns expressed by operators on the obstacles that may still arise before the bailout 110 billion euro budget of Greece.

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.

To restore relations sometimes unbalanced between contractors and subcontractors, Nicolas Sarkozy had announced in early March, as part of the States-General of Industry, he would appoint a mediator outsourcing, reporting to the Minister Industry. The latter, Christian Estrosi, Mardin morning announce that Jean-Claude Volot was chosen for this position. Former contractor at the head of the group Dedienne, and former Chairman of the Agency for start-ups (PACE), Jean-Claude Vollot was already delegated to the Ombudsman of the credit for industrial strategy.

"The environment is very negative." Mace Blicksilver, analyst at Marblehead Asset Management, sums up the situation on Wall Street. The U.S. stock market plunges into the red in mid-session in the wake of negative fences in Europe. Around 19 hours (French time), the Dow Jones lost 2.25% at 10,037 points, prompting observers to wonder if the 10,000 points will be maintained. The loose Nasdaq 2.45% to 2137 points and the S & P 500 fell by 2.49% to 1070 points.

The Exchange NEWYORKAISES doubt due to bad news from Europe on the deficits of Greece, Spain and Portugal.

To this are added the figures disappointing employment. The U.S. Department of Labor lists because 480,000 new applications for unemployment benefits from January 24 to 30, or 1.7% over the previous week. The indicator has thus regained its level of December 12.The bad news casts doubt then that should be released tomorrow Friday monthly report on employment.

The increase more than expected to 6.2% in productivity in the fourth quarter did not offset the effect of this announcement. Just as rising industrial orders have increased twice more than expected in December, 1% from November (in data seasonally adjusted) as many as the previous month, said the Commerce Department.

The dollar rises, the export value suffers

Fears about the deficits of some European countries, coupled with the announcement of the ECB to keep rates at 1% are falling euro and strengthening dollar.The European single currency affects its lowest level since June 2008 and back below the 1.38 dollars.

In turn, values related to raw materials, energy and export sinking stock market. Alcoa lost 3.63% to $ 13, Exxon loose 2.22% to 65.12 dollars. Caterpillar (-3.05% to 51.71 dollars), General Electric (-3.54% to 16.09 dollars) and Intel (-3.25% to 19.04 dollars) fall.

Cisco is unable to support markets

Only Cisco maintains the cap: 0.39% to 23.16 dollars. The group announced that its net income for the second quarter of fiscal year staggered (late October to January 23) increased 23% over one year to 1.853 billion dollars, beyond expectations and its own forecasts . Above all, sales rose 8% over one year to 9.815 billion dollars, while three months ago the group was considering an increase of 1 to 4% only.These solid results are greeted in Stock (1.73% to 23.46 dollars) but do not support enough Nasdaq.

Bank of America 3.81% cowardly to 14.84 dollars. The Minister of Justice of the State of New York, Andrew Cuomo, the bank continues to have hidden the losses of its subsidiary Merrill Lynch and "manipulated" the authorities for a massive federal assistance.

Kellogg fell 4.15% to 52.90 dollars. The producer of cereal for breakfast reported earnings slightly down on last quarter, worse than is expected by analysts and below its own forecast.

Monster Worldwide has published quarterly results and announcing the acquisition of HotJobs to Yahoo for $ 225 million in cash. The news is very badly perceived in the marketplace.The title plunges 18.86% to 13.32 dollars.

Amazon (-2% to 116.72 U.S. dollars) was about to buy Touchco, a start-up NEWYORKAISES specializing in touch screen technology, according to U.S. daily New York Times. The objective is to further strengthen the capabilities of the tablet Kindle while Apple (-2.68% to 193.89 U.S. dollars) has launched its iPad.

Moody's announced an increase of 16% of its profit in the fourth quarter, to 101.9 million against $ 88.7 million a year earlier. The title is yet sanctioned: -5.12% to 26.66 dollars.

The title Cigna (-3.28% to 33.62 dollars). The group released on Thursday a quarterly profit above expectations at $ 330 million against a loss of 209 million a year earlier.

Hardly already revealed and challenged. Here and there, people have criticized Apple's iPad charges of usurpation of all kinds. The product name is first challenged. This Friday, the group of services and computer equipment that Japanese Fujitsu claims first use of the name "IPAD" for some of its equipment for supermarkets. For example: "IPAD" is the name of a digital mobile group, for ease of reference prices and stocks at any time and any place in a store.

The device is marketed in the United States since 2002. Futjitsu states have filed through one of its U.S. subsidiary, an application for the name in March 2003. An approach which, according to Masao Sakamoto, a spokesman for Fujitsu in Tokyo, has not yet resulted.According to Japanese press, Apple will have to decide before February 28 if he opposes the request for name registration by Fujitsu. This in turn has not yet decided whether to launch a lawsuit against Apple.

But Fujitsu is not the only one to blame for identity theft to Apple. American society Slate Computing has already filed with the Japanese name "IPAD" for a range of electronic products ranging from computers to metronomes through toys or mobile phones. The German giant Siemens has also registered the international trademark "IPAD" for micro-engines and electric motors, applied to various products.

The question is whether the commercial courts will be called to decide on the use of the name dispute into the blogosphere.The jokes are multiplying on the net, users do not fail to recall that "IPAD" suggests "towels" ( "pad") in English payday loan . Suddenly, the word "buffer" has become the second most discussed topic on Twitter …

"Why did they do the same thing as us?"

But the name is not the only object of all disputes. Since the lifting of mystery about the product and its features Wednesday, several companies around the world rise against the U.S. giant, accusing it of stealing their idea. The latest company to date to show his displeasure, Shenzhen Great Loong Brother Industrial Co. is Chinese. The company official, Huang Xiaofang, marketing claims exactly the same product … for 6 months in China.Shanzhai.com, a technological reference blogs in China, says in fact many similarities between the two devices. The tablet "P88", as dubbed in Chinese society, appearance is almost identical. Heavier and thicker than the iPad, the Chinese model boasts still offer a bigger screen, more memory and, above all USB ports, an element missing from the Apple iPad.

The P88 was launched in August and presented last year at an electronics fair in Berlin. This makes it clear to Huang Xiaofang that Steve Jobs is a copier: "We have started before. We do not understand. Why have they done the same thing as us. "Note however that the P88 has a Chinese battery with a charging time of half past one while Apple promises 10 hours of continuous use without recharging.

This discussion shows at least Apple did not eventually hear disputes. The functionality of the iPad is already considered by some observers minimalist.

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As expected, the U.S. bank JP Morgan Chase announced a great performance this Friday for its fourth quarter 2009. Over this period, net profit stood at 3.278 billion dollars (2.27 billion euros), a figure four times over the fourth quarter of 2008. Net banking income (equivalent to the turnover) amounted to 23.164 billion dollars over the same period against 17.226 billion in 2008. Levels well below expectations of analysts who had forecast at 26.2 billion.

For the full year, JP Morgan Chase is much better than expected with a net profit stood at 11.728 billion dollars. Twice in 2008. Regarding the benefits of the fourth quarter alone, the performance of the bank exceeds expectations at $ 74 cents per share in the fourth quarter against the 62 expected by analysts.On the year, net earnings per share were $ 2.24, against expectations of 2.12.

The bank also announced having strengthened its balance sheet, with a Tier 1 capital of 133 billion dollars or 11.1% ratio against 10.2% in September 30.

The banking investments have contributed greatly to the group's results, with net income of 1.901 billion, against a loss of 2.364 billion last year in the same period.

Deception

Yet the markets react badly to this first major publication in the banking sector. On Wall Street, the Dow Jones opened down 0.26% at 10,683 points. Action JP Morgan lost 2.15%, resulting in his fall Citigroup (-1.71%), Bank of America (2.32%) Goldman Sachs (-1.06%) and Morgan Stanley (-2, 76%). In Paris the CAC 40 in red switch to -0.60 while it was resumed in mid-session.

Investors, disappointed, hold that the bank has added $ 1.9 billion to its reserves for losses on consumer loans. The financial institution also announced that "the results have not reached a level of return on capital adequacy and realized their full potential." "The results of companies have certainly not the desired leverage," stated Joseph Hargett of Schaeffer's Investment Research. "JPMorgan Chase has even gone so far as to express a high degree of caution on the current economic environment," says he.

Jamie Dimon, CEO of JP Morgan, will indeed "be cautious" about its outlook. His bank has, he says, face a cost of "high" risk. JP Morgan has included in its accounts last quarter to 7.3 billion dollars in reserves to cover these risks.

Moreover, while the swelling controversy over the pay of bankers and traders on Wall Street, JPMorgan reported costs of "compensation" (which includes wages and bonuses) increased by 18% in 2009 compared to the year prev. A new and should not meet U.S. President Barack Obama said Thursday that a proposed tax of fifty large bank.

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