China interested in electric models by Renault

The Renault range of vehicles that manufacture and market in China will incorporate at least one electric model at the request of the Chinese, said Tuesday the deputy CEO of group.

Renault hopes to produce locally from 2014-2015, joining Nissan in the Chinese market through joint venture that holds its Japanese partner with China's Dongfeng. He hopes to get the green light from authorities by the end of the year to start building its first factory in China.

"Our Chinese partners are very interested in zero-emission vehicles, including electric vehicles," said Carlos Tavares to the press room Geneva Motor Show.

"They asked us to integrate our product plan vehicles of this technology and of course, knowing this is one of our strengths, we agreed to do so willingly, for benefit of the JV, "he added.

"It is tasty as the bet of the electric vehicle is the element that we will return to China, but it is a fact, they asked us."

Renault unveiled in Geneva at the forefront of its electric range, the city Zoe, which will be produced soon Flins (Yvelines). It adds to the Kangoo nonthermal, the Fluence sedan and mini-urban vehicle Twizzy

. Despite a slower start than expected this type of vehicle, the group believes they still account for 10% of the automotive market in 2020

.

Commerzbank increased its capital, earnings down sharply

Penalized by a $ 700 million spent on Greek sovereign debt, Commerzbank, the second German bank, said Thursday a sharp decline in profit while by announcing a capital increase to strengthen its balance sheet.

This capital increase, which will help meet the requirements of regulators, will be through the conversion of hybrid instruments and subordinated debt.

The bank said it was missing at the end of December 1.8 billion euros, the lack of capital to bridge having been reduced by improving the management structure of capital and the sale of risky assets.

It nevertheless recognizes that the crisis in the euro area is a potential threat to its results. 

"The high degree of uncertainty associated with the crisis of European sovereign debt will remain, however, a challenge for us," said the CEO of the bank Martin Blessing.

Commerzbank also said to be exposed to the tune of 12.3 billion euro sovereign debt Portuguese, Italian, Irish, Greek and Spanish.

The second German bank said it had depreciated its claims on Greece to 74% in late 2011.

In the last quarter of fiscal 2011, the bank generated an operating profit of 163 million euros after a loss of 855 million in the third quarter. In the fourth quarter 2010, operating profit was stood at 256 million euros.

For 2012, the group said it anticipates an improvement in balance and adds that it will concentrate on the German and Polish markets.

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.

Wall Street ended up 1.23%, boosted by employment

Wall Street closed sharply higher Friday, boosted by the employment statistics, which in particular led the Nasdaq Composite to register a peak of 11.

The Dow Jones for his part tu a high of four years, while a large number of stocks from the peaks have registered a year.

The Dow Jones took 156.82 points (1.23%) to 12,862.23 points. The S & P 500 gained 19.36 points (1.46%) to 1,344.90 points. The Nasdaq Composite Index gained 45.98 points (1.61%) to 2,905.66 points. On the whole week, the Dow gained 1.6%, the S & P 500 2.2% and Nasdaq 3.2%.

The S & P 600 small caps for his part closed Friday's session at a record high of 463.56 points, representing a gain of 2.14%.

The upturn in the U.S. employment continued in January, with the highest rate of job creation observed in nine months, and the unemployment rate fell to , its lowest level in nearly three years, reflecting the impact of growth in the fourth quarter of 2011 at the beginning of new year.

Other statistics published in the day, the industrial orders and the ISM services. Orders to U.S. industry rose for the second consecutive month in December, driven by increased business investment.

The growth rate of services sector in the United States has clearly accelerated in January, while economists had estimated that it would evolve in the same tempo as December , according to figures released Friday by the Institute of Supply Management (ISM).

"This is confirmation of a slow but significant statistics US", says Stephen Wood (Russell Investments), noting that risks remain, however, as the debt crisis in Europe.

The financial sector gained 2.68% and 1.71% of industrial

Values, and therefore against the trend, Estee Lauder loses 2.33%. The American cosmetics group, citing adverse currency effects and increased its advertising spending, announced quarterly forecasts well below expectations.

More than halfway through the "season" results, 60% of the S & P 500 have reported results above consensus, according to Thomson Reuters I / B / E / S.

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>

According to a survey, less than a third of French say they are willing to buy the French public debt. And you, would you be willing to lend to the state? Do you have confidence in his ability to repay? It goes from 8.86 to 9 euros gross time to reach 1,365 euros for 35 hours, or about 1,073 euros net per month.

Less than a third of French say they probably or definitely willing to buy the French public debt if they were given the opportunity, according to a Harris poll for the site information and the agency Jolpress Image & Strategy to be published Tuesday in the Tribune . Only 6% of French people would buy "certainly" the debt of the country at rates comparable to those charged by banks, and 24% would buy "probably" of such bonds, said the survey.

Conversely, 65% of French people would not buy "definitely not" (34%) or "probably not" (31%) of French debt. Two countries, Italy and Belgium have recently suggested to individuals to buy government bonds, and these operations have been successful. The "day Treasury bills", during which the Italians were called Monday to buy the debt of the country, met a great success, while in Belgium, the government launched Thursday a government bond which has was well received by individuals.

In addition, a majority (56%) of the French believed that the acquisition by the European Central Bank (ECB), a significant portion of the debts of the states of the euro area would reduce speculation in debt. But 56% believe that it would deter states to make real efforts to reduce their deficits and 53% that it could foster inflation.

Carrefour Friday categorically denied press reports suggesting a possible change at the head of the group.

Le Figaro wrote that the main shareholders of the supermarket group, funds Colony Capital and Groupe Arnault, have courted Plassat George, the patron of the group distribution of shoes and clothing Vivarte to replace the current CEO Lars Olofsson.

"Faced with rumors successive change of any officer of Carrefour, the Board of Directors of the Company expressly disclaims any information on this release," the group said in a statement.

No one was immediately available from Colony Capital and Groupe Arnault to comment.

Source familiar with the matter, it tells Reuters that George Plassat has been approached by the shareholders of Carrefour to take the CEO of the group but he refused the proposal this month.

"It has been proposed and he said 'no'. It was during November," said the source.

"There is still no candidate to succeed Lars Olofsson," she added.

According to Le Figaro on Friday, the board gave Lars Olofsson to the end of the year to prove itself, especially in terms of achievement of financial targets for 2011.

"(Georges Plassat) is courted for months by the main shareholders of Carrefour.

Zodiac Aerospace announced Tuesday the results slightly exceeded expectations in 2010-2011 thanks to the growth of the aerospace market and said it expected further improvement in profitability and activity for the current year.

The aerospace equipment anticipates organic growth of 20% of its turnover for the first quarter (September-November) and in the longer term, expects to exceed its growth target of 40% of its turnover on three years, excluding the impact of foreign exchange.

Zodiac has emerged on the fiscal year ended in late August an operating margin of 14.0% – it was a rate higher than 13% – against 11.2% in 2009-2010, with an operating profit of 385.7 million, an increase of 60.4%.