Beiersdorf expects profits up in 2012

Beiersdorf expects earnings growth in 2012, having eliminated unprofitable products to focus on its flagship brand Nivea, waiting for a new chief executive next month.

The consumer products group general public has lost market share in recent years and attempts to remedy this by redesigning its product line dominated by Nivea, the first global brand of care the skin.

Beiersdorf, which also owns the range of luxury cosmetics La Prairie, announced in January and the results better than expected margin for 2011, suggesting that a slow movement of recovery maybe put on.

He believes that the operating margin of the consumer division should exceed that of 2011, stood at 11.4% against 12.7% in 2010. 

The new CEO Stefan Heidenreich will take the reins of the group in April, charging him with driving a change which, if it proved unsuccessful, could fuel speculation by Beiersdorf future operational able.

The group proposes an unchanged dividend of 0.70 euro per share, while analysts polled by Reuters had expected € 0.68.

COR-G20 hopes to increase IMF resources in April

The G20 finance ministers pledge to do in April the stock of progress in strengthening the resources of the International Monetary Fund, have we learned from officials G20.

At their next meeting in April, the G20 agreed to agree on a financial firewall around 2,000 billion dollars (1.487 billion euros) to prevent European debt crisis from spreading and threatening the global recovery.

This would be the most ambitious effort since the financial crisis of 2009, when the G20 has reached 1,000 billion dollars to save the global economy. 

In an unexpected turn, Germany announced that it would decide in March on strengthening the European bailout fund, an initiative it excluded so far and that many G20 countries consider essential before any increase IMF resources.

For many partners in the euro area, it is indeed the first European leaders to implement the necessary means to control the risks of contagion from the debt crisis, for example by combining lending capacity of its two mechanisms of financial stability, the European Financial Stability Fund (EFSF) and the European Financial Stability Mechanism (MES ).

This would bring their firepower combined with some 750 billion euros. 

G20 countries would then be more inclined to answer the call of the IMF, who wants more than double its capacity to respond by raising $ 600 billion of additional resources.

Added together, all these measures would create a global financial firewalls of about 1,950 billion.

The question of strengthening the bailout funds in the euro area is on the agenda of the European Council of March 1 and 2.

Japan and Britain have reiterated over the weekend that they would refuse to increase their contributions to the IMF as countries in the eurozone will not self-reinforced ; their own firewall facing the debt crisis. 

"I expect that the debate on strengthening the capacity of the IMF loan is progressing as long as the problem of European debt crisis is resolved by the G20 meeting in Washington in April, "said Japanese Finance Minister Jun Azumi.

Adocia starts on NYSE Euronext under the current IPO

The biotechnology company Adocia began Monday his first day of trading on the NYSE Euronext market a little below its introductory course of 15.88 euros.

Around 9:35, it was trading at 15.62 euros showing a market capitalization of 94.5 million euros.

For Arnaud Guerin, an analyst at brokerage firm Portzamparc, this course may reflect questions on business development and strategy company that specializes in Lyon formulation of therapeutic proteins for the treatment of diabetes and chronic wounds.

He also stresses that it is positioned in a highly competitive market where the laboratory Danish Novo Nordisk, a world leader in diabetes care, has taken a big lead. 

Created seven years ago, is the first introduction Adocia market of 2012. Chaired by Gérard Soula surrounded by his two son, Olivier and Rémi, Adocia recently signed a license agreement and collaboration with the U.S. pharmaceutical group Eli Lilly for the reformulation of its insulin Humalog.

This option for the improvement of existing technology Adocia enrolled in a logic quite different from other biotech companies that offer a technological breakthrough.

Greek parliament vote austerity in a climate of violence

The Greek parliament approved on the night of Sunday to Monday for new austerity measures in an atmosphere of considerable tension in Athens, where buildings were burned in clashes between rioters and security forces, while violence were reported in several other cities.

This law, which provides 3.3 billion of budget savings through drastic new cuts in wages and pensions and a new wave of job cuts in the public service, is required e by the donors of Greece – European Union (EU), European Central Bank (ECB) and International Monetary Fund (IMF) – in exchange for a new aid of 130 billion euros considered essential to avoid bankruptcy at home. 

While MPs were debating Sunday in the walls of parliament, tens of thousands of Greeks had gathered outside, on the Constitution Square (Syntagma) , to denounce this new course of rigor, two years after the beginning of this policy of austerity.

In the late afternoon, violence erupted, the worst in Greece since the weeks of riots in 2008 which succeeded the death of a teenager 15 years killed by police.

Cinemas, cafes, shops and bank branches were burned in the center of the capital while the masked demonstrators battled riot police near the Parliament . According to police, a total of 34 buildings caught fire and 150 shops were also looted.

State television reported violence in the resort island of Corfu, Crete, Thessaloniki, northern Greece, and in cities across the center of the country , Volos and Agrinio.

LESSER EVIL

Technocrat appointed in November at the head of a government backed by the country's two main, Lucas Papademos has denounced the violence. "The vandalism, violence and destruction have no place in a democratic country and will not be tolerated," he told parliament.

Shortly before the vote, he warned MPs they would commit a grave mistake if they did not approve of this new package of savings which represents for him a lesser evil compared to the possible consequences of bankruptcy.

"We have before us a comprehensive and credible economic program to overcome the economic and fiscal crisis. This is a program that preserves more than anything else, the country's place within the euro area, "said Lucas Papademos, while recognizing the level of effort demanded to his fellow citizens, especially facing a 22% decrease in the minimum wage

. "The implementation of full, effective and timely in this program will not be easy. We are fully aware that this economic program involves short-term sacrifices for the Greek population. "

Finally, 199 members of 300 approved the text but 43 ¨ elected PASOK (Socialist) and New Democracy (conservative) did not comply with the watchword of their party and were excluded on the scope of their training

. Outside the parliament, the air in Syntagma Square was wrapped with tear gas and Police charged the young men throwing stones elusive and Molotov cocktails. In heaven stood wide columns of smoke from buildings on fire

.

"We are facing destruction. Our country, our house is about to burn. The center of Athens is in flames. We can not let populism reduce our country to ashes, "exclaimed the elected Conservative Costis Hatzidakis

. At the inside the parliament, we could hear the explosions of grenades used by police

. Frightened, the residents and tourists took shelter in hotel lobbies to escape the violence and irritating gases

. "ENOUGH, C IS ENOUGH "

Among the buildings burned included Attikon Cinema, a building of neoclassical style built in 1870, and a building housing the cinema Asty, a room in the basement converted into a torture chamber by the Gestapo during World War II

… …… For many Greeks, the new austerity measures that do delve a little deeper into poverty. 

"Enough is enough!" Exclaimed Manolis Glezos, 89-year historical figure of the Greek left, at the rally in Syntagma Square.

"They have no idea what it means to an uprising of the Greek people. And the Greek people, ideas all political persuasions, is beginning to lift, "said the hero of the resistance during World War II, who had managed to remove a Nazi flag from the Acropolis in 1941

. The Greek political leaders are under intense pressure from the EU and IMF, who accuse them of not to implement the promised reforms since 2010 and thus threatening the whole euro area

. Germany, first saving Europe, has launched a new call to order Sunday as Greece needs of international funds by March 20 to pay on that date of € 14.5 billion of debt coming to e ; personshall lose. 

Asked about Greece by the Welt am Sonntag, the German finance minister, Wolfgang Schäuble, said: "It is important to say that it can be a bottomless pit . This is why the Greeks will finally have to clog the well. Then we can put something. (…)

"The Gre it must do its homework to become competitive, it requires a new rescue plan or some other way that we do not want to (…) ", he added, referring to an output of the euro area

.

Credit Suisse in the red in Q4 2012 begins well

Credit Suisse on Thursday presented the figures below expectations in the fourth quarter of 2011 due to charges, but stressed that the current year had started well.

Credit Suisse posted a net loss of 637 million francs (526 million), while analysts on average expected a profit of 430 million.

The second Swiss banking group has suffered the impact of 981 million francs in costs of realignment from the abandonment of certain activities and accelerated reduction for 35 billion francs, of risk-weighted assets under the new Basel III regulations.

This results in a loss before taxes of CHF 1.3 billion in investment banking. However, Credit Suisse said ahead of its active reduction target of 80 billion francs to be reached nine months earlier, namely at the end of first quarter 2012.

The bank privéea his side recorded a pretax profit of 467 million and net inflows of 7.6 billion.

"Our performance in the fourth quarter of 2011 was disappointing," admitted the chief executive Brady Dougan said in a statement. "It reflects both the adverse market conditions during the period under review the impact of measures taken to quickly adapt our activities to changing regulatory requirements and market. "

Accordingly, Credit Suisse said the variable pay plan for 2011 decreased by 41% and 57% for board members, who will also receive any remuneration variable cash.

The Board of Directors propose a dividend of 0.75 francs per share for the past year, against 1.30 francs a year earlier. Markets expected 0.67 franc.

"We are mindful that the market and economic environment remains uncertain, but are encouraged by the good start of our business in 2012, since the beginning of the year , a return on equity adjusted in line with our target of 15%, "said Brady Dougan.

DISAPPOINTED 'OVER THE LINE "

Credit Suisse's performance contrasts with that of its competitor Helvetic UBS announced Tuesday a net profit of 393 million francs in the fourth quarter but said he was very cautious for the first quarter . 

Deutsche Bank surprised the markets last week with a loss before tax of 351 million euros in the fourth quarter, its investment bank was hurt by the crisis of sovereign debt in the eurozone.

Action Credit Suisse declined 1.9% to 24.75 francs at 9:50 GMT, while the European index of banking stocks climbed 1.29%. UBS earns 0.46%.

Analysts point out the weakness of the last quarter, the image of the Zurich Cantonal Bank and the bank Notenstein that evoke a disappointment "over the line."

Dirk Becker, Kepler Capital Markets, talks about the gross margin fell to 109 basis points in asset management in the fourth quarter. "Either the lowest level for many years," he laments.

CFO David Mathers, during a conference call, said that there were no developments in the late fourth quarter that need to modify the provisions for offshore U.S., a dispute between the banking group to the tax authorities of the United States.

In the third quarter, Credit Suisse had recorded 258 million francs as part of the U.S. investigation into these activities.

Earlier this week, Julius Baer said he expected a fine in this matter.

The CDC meets on Wednesday resumed Dexma

The final pattern of the recovery of Dexma, a subsidiary of French bank Dexia being dismantled, should be arrested by the end of the week while Caisse des Depots (CDC) meets on Wednesday its supervisory board on the subject, Reuters reported Tuesday sources familiar with the matter.

Agreement on the resumption of Dexma (Dexia MA), specializing in refinancing loans to local authorities, is crucial in today dewatering of loans to community ; s French local. 

Caisse des Depots, who had already participated in the rescue of Dexia in 2008, and the Post Bank should take over from the Franco-Belgian bank in this market with the launch, expected to ; mid-2012, a new public bank dedicated to local governments.

"The supervisory board of the Fund is meeting tomorrow (Wednesday, Ed)," Reuters said a source familiar with the matter.

"There will be a point on Dexma," said a second source confirming the meeting of the supervisory committee of the CDC.

Two other sources familiar with the talks added that an agreement on Dexma was now imminent.

"This is about one to two days. It will be before the end of the week, "said one of these sources

. The Fund deposits declined e to comment while no one was immediately available to respond at Dexia

. Under the dismantling of the former world leader in financing local government, the French state could eventually take a stake of around 25% to 33% in Dexma to defeat the re ticences of the Deposit to resume this structure whose loan portfolio, valued at approximately EUR 80 billion, could be toxic ……. FOUND AN INVOICE

.. TOO HEAVY FOR THE CDC

The Post Bank would in turn take a minority stake of 5% in the initial plan provided last fall. News reports have mentioned these days a stake of up to 7%.

In recent weeks, several members of the parliamentary committee to monitor the CDC has expressed concern over the increase in numbers of the Deposit in favor of businesses hit by the crisis, as was the case with the bailout of insurer Groupama.

Fearing that the CDC can not alone bear the brunt of the resumption of Dexma, some of them felt that direct intervention of the state was desirable to reduce the invoice. 

A final agreement on Dexma will also submit to the creation of new public bank for local communities, some of them likely have to abandon or postpone investment projects due to lack of credit banking.

According to forecasts by Dexia Credit Local, some 10 billion euros in 2012 could fail to secure the financing that French local authorities have required banks deserting the market because of the crisis and new prudential rules.

Mitsubishi will build more in Western Europe

Mitsubishi Motors announced Monday it would cease later this year to build cars in its sole plant in Western Europe, the Netherlands, a move that was expected after the fall of sales on the continent.

Cars Nederland site, or NedCar, built the Colt and Outlander 4×4 but less than 5% of the total production of Mitsubishi, or 1.1 million vehicles for the year ended 31 March last.

NedCar production, jobs that 1,500 persons, fell to 50,000 vehicles per year, while it has a maximum capacity of 200,000.

Sales of Mitsubishi Motors in Europe accounted for 340,000 vehicles in fiscal 2007/2008 but had fallen to 218,000 in 2010/2011. 

Mitsubishi Motors is building a new factory in Thailand and plans to increase production in Brazil and China.

NedCar, based in Born, was born in 1991 as a joint venture between Mitsubishi Motors, Volvo and the Dutch state. Mitsubishi became the sole owner in 2001 having bought out his partners.

Cameron mocks Sarkozy's Tobin Tax

With this measure unilaterally decided by France, the UK will host "several French banks," mocked the British prime minister Monday. Meeting between David Cameron and Nicolas Sarkozy at the Elysee December 2, 2011. <p> British Prime Minister David Cameron mocked Monday Nicolas Sarkozy's decision to unilaterally introduce a tax on financial transactions, believing that by this measure, the UK would host "several French banks." " / p> "I find it incredible that we can do this," said Mr. Cameron about Mr Sarkozy's decision to introduce this tax without waiting for its European partners. "As we fight for jobs and growth, do something that cost so many jobs seems extraordinary," he said during a press briefing on the sidelines of a summit of 27 countries of the European Union in Brussels. </ p> "And in a healthy sense of competition with France, if France a tax on financial transactions, our door is open and we can welcome UK banks and many more French companies, and our economy will grow, "Mr Cameron joked. </ p>" I am full of admiration for Nicolas "<p> While noting that they were disagree on certain issues, he described the French president as "remarkable man" and recalled their collaboration during the war in Libya. "I wish the best to my friend Nicolas," he added, in response to a question whether, as German Chancellor Angela Merkel, he would campaign for re-election of Mr. Sarkozy. </ P> "I am full of admiration for Nicolas. From time to time he said something with which I do not agree, as when he said that Britain has no industry, as we have an industry larger than France, "he said. </ p> M. Cameron was referring to comments made Sunday night by Mr Sarkozy during his interview broadcast by French television channels. "We can talk in the UK with pleasure, the UK, they have more industry", launched the French President. </ P> Relations between the two men are strained these recent months. The EU summit in late October had already been the subject of a frank explanation of them, M. Sarkozy irritated during a meeting that Mr. Cameron gave lessons to the euro area over the course of action. </ P>

Increase in grants, including Milan slight easing of interest rates in the long run Italian … Silvio Berlusconi's announcement he will leave soon to relieve the financial markets. The Italian prime minister Silvio Berlusconi

The markets applauded Wednesday morning the next departure of Italian Prime Minister Silvio Berlusconi, whose ability to recover the finances of his country were strongly questioned by investors. So much so that the pressure on interest rates threatened to kill Italian Italy asphyxiation.

In the wake of the Asian stock market, the European equity markets have in turn opened up. Italian interest rates at 10 years have slightly relaxed the bond market and oil prices climbed. The euro, however, was stable.

Paris and London and took a little over 0.8% at the opening.

"The risk appetite increases, investors favor cyclical stocks at the expense of defensive background of relief related to the resignation of Berlusconi," he told Dow Jones Newswires Justin Rooney, head of sales at CBA in Sydney.

The Italian 10-year rate is slightly relaxed: they amounted to 6.65% Wednesday morning in Asia, after reaching a day high of 6.77% in Europe. Before the announcement of the forthcoming resignation of the head of the Italian government, the 10-year rate had risen to 6.77%, a level unprecedented since the inception of the euro, slightly more than the previous record which dated from the morning same (6.73%).

Sanctioned markets and Italy for its policy and had considered lax in their sights the prime minister Silvio Berlusconi, seen as unable to apply the meusres rigor demanded by the European Union.

Unemployment up off again in September

Unemployment in France is left up in September after a slight decline in August, show statistics released Wednesday by the Ministry of Labour and job center.

The number of job seekers in category A (those who exercised any activities during the month) in France rose by 26,000 (+0.9%) last month to $ 2,780,500.

In one year, the number of unemployed in category A growing by 3%.

By adding the persons engaged in small (B and C), the number of job applicants sign an increase of 0.7%, or 27,600 more people in one month, to $ 4,175,800.On an annual basis, the increase for these three categories falls to 4.5%.

September was especially unfavorable for 50 years and older, an age in which the number of unemployed in category increased 2.1% over the month and 14.3% year on year.

It was also detrimental to the age of 25, since in that category, the number of unemployed increased by 0.6%. On a year, however, declined 2%.