The Facebook-COR Action begins with a bang

Facebook The action began about 13% above its IPO price on the Nasdaq Friday, completing one of the largest IPOs in the history of the United States.

The transaction enabled the world's first social network to raise $ 16 billion (12.6 billion euros).

Banks consulting group had set Thursday at $ 38 IPO price of the securities at the highest range of introductory, valuing the company at $ 104 billion (82 billion euros).

The action was trading at 42.05 dollars in the first few exchanges. At 3:33 p.m. GMT, three minutes after the first listing, the stock was trading at 40.64 dollars.

Building on the success of the operation, the company had increased by 25% the number of securities being sold to raise it to 421 million.

Friday, some 82 million shares changed hands during the first 30 seconds of official exchanges.

The group's founder and CEO, Mark Zuckerberg, 27, rang the bell to mark the symbolic start of trading on the Nasdaq, since the California headquarters of Facebook.

Become in eight years a major U.S. fortunes, Mark Zuckerberg retains control of the company after the introduction.

The field of business has expanded in a broad way, and one area that is common is the business of financing people who are on paychecks. The opening in this business has grown to a greater extent, and now, people have limitless options, including one of getting payday loans online.

The global air traffic up 9.3% yoy in February

The air passenger traffic grew 9.3% yoy in February but rising fuel prices and the deterioration of the overall business climate are factors of uncertainty for the future, announced Tuesday the International Air Transport Association (Iata).

The numbers at the end of February have benefited the Chinese New Year, Carnival in Rio and a favorable base effect due to the impact of traffic on the Arab spring last year ; re the same period.

"The outlook is fragile. Improving the business climate weakened in February. This will limit the potential for customer growth in business class and implies an acceleration of the freight is not imminent, "said Tony Tyler, CEO of Iata said in a statement

. growth in international cargo was 5.1% on-year slide in February …… Passenger traffic

… grew faster than the available capacity that growth came to 7.3% year on year, which resulted in a better load factor of the devices. The trend was reversed for freight, which has resulted in a rate of capacity utilization of only 50%, IATA said … ……

Total will drill two relief wells "as soon as possible" in Elgin

Total said Friday it would launch "as soon as possible" the drilling of two relief wells in the facilities from which Sunday since the flight of his platform of Elgin, in the North Sea.

The French oil group further found that surveillance operations and interventions on the well in question, whose operation was stopped in 2011 after abnormalities, were made in compliance with procedures.

"We will start drilling as soon as possible," he said during a meeting with the press Hourcard Michel, director of branch development and exploration and production of Total spokesman technical the incident of Elgin. 

Asked about the duration of the operation, he said it was "reasonable" period of six months previously discussed by Total.

Michel Hourcard also said the group planned to inject parallel mud into the well from which the gas leak.

Philippe Guys, managing director of Total Exploration and Production UK, had earlier told a news conference in Aberdeen, Scotland, the relief well drilling could start by 7 to 10 days.

Hourcard Michel for his part reiterated that the operation of the pit Elgin from which the leak had been stopped for "a little over a year" after the finding of an "anomaly in the conditions of production". 

"There was at the beginning of February (2012) a second anomaly that occurred in the pressure recordings (…), which led us to say that It happened probably something that brought us to intervene, "he added.

SITUATION "STABLE"

Total was then started an "abandonment" of the well, which is to be injected with mud, a process that was underway when the leak was found on March 25.

"The operations of 'monitoring' and action plan on this well have been done well, there was no non-compliance with procedures. From the moment that there were anomalies, it was moved to safety, "said Michel Hourcard

. A union source however said that Total employees on the platform of Elgin had warned the group against the risk of leaks before it occurs but had been told that the incident "could not happen" Total

. also exploring various solutions that would extinguish the flare its platform, where he says the situation remains "stable"

. It comes to mind watering the flare of the platform -either by helicopter or by fire-ship or to proceed with a nitrogen purge to deprive it of oxygen. 

The flare, which reduces pressure on the platform was removed, can not be turned off remotely and with a higher risk of inflammation of the plumes of gas escaping into the air from the leak, a hundred meters away.

Total and British authorities have called a "minimum" potential risks to the environment of the cloud of gas and a thin oil slick which has spread on the water surface. Experts on environmental issues, however, considered only a short distance the "cocktail" of gas would be flammable or toxic.

According to the British, the flare is a risk factor as long as it stays on even when the wind blows the cloud of gas in the opposite direction and that this weather should continue in the foreseeable future.

"Total has assured the government that the platform is designed so that the flare is located in an area where the prevailing winds away from the gas," said ; the UK Department of Energy. 

The leak appears to come from a rock formation located in the upper well and thus added Total volume of gas from this close formation, which is not a re ; tank production in the Elgin field, is difficult to assess.

International experts who advise Total have not yet made a final recommendation to proceed to sealing and repairs, the ministry said.

The gas leak, which broke out Sunday, forced Total to evacuate 238 people who worked on the platform of Elgin, about 240 kilometers off the coast of Aberdeen .

In Italy, wine is combined with fashion to export

The largest wine producers in Italy are joining forces with the world of fashion to boost their sales in the U.S. and emerging markets, hoping to offset lower consumption in the pe Peninsula.

Italian wine sales were flat last year to 12 billion euros, and as Italy plunges into recession, dragged down by its austerity measures ;, the future of its wine industry depends increasingly on exports.

Italy is already the world's largest exporter of wine by volume and second only to France in turnover. Italian wine exports jumped 13% last year to 4.4 billion euros and represent, with 2.4 billion liters, about 55% of its total sales.

But as competition intensifies in France and relatively new entrants from Australia, South America and South Africa, the main Italian producers have chosen to partner with claws fashion and design to better stand out.

Members of the Federation of luxury Altagamma thus agreed to accompany their parades and events of their Italian wines, saying pleased to promote diversity and quality of products manufactured ; s in Italy.

"It is clear that fashion attracts more attention, it is better known around the world. Everywhere we go, we take our Italian wines and make known, "said Santo Versace, brother of designer Donatella Versace and president of Altagamma, on the occasion of inauguration of Vinitaly, a renowned wine fair which is held in northern Italy from March 25 to 28

. MARKETS WHO

THIRST While export volumes exceed those of its domestic consumption since 2010, the Italian wine is turning increasingly to its carriers in foreign markets like USA, Russia and China, following in the footsteps of other manufacturing sectors of the peninsula, from fashion to metal production ..

……. "The future belongs to export," explains Lucio Mastroberardino, president of the federation Unione Italiana Vini Italian wine (IVU). 

"The United States, North America will remain a long time the largest market for Italian wine. Exports to China, India showing strong percentage growth but volumes are still trè s low. People out there just find the wine, "he notes.

Italy is the first player in the American wine market, with a market share of around 30%. About a third of Italian wine exports are destined for the United States, world's largest market. According to the producer, Italian wine sales have increased 16% in 2011, a sign that the market has recovered significantly since the 2008-2009 crisis.

"Throughout the crisis, the volume (sales) wine continued to increase, but the price range has shifted. Some of the more upscale wines have suffered, some wines have benefited more accessible, "notes Thomas Matthews, editor of Wine Spectator magazine …….

.. This year, the increase in exports of Italian wine in the world should be similar to or better than last year, pre ; said Lamberto Vallarino Gancia, president of the federation wine Federvini

. "What distinguishes us is that What the big wines like Barolo and Brunello, which are the main drivers of our exports, we have a wide variety of quality wines in all price segments, "said he.

Casino will be the sole controlling shareholder of Brazilian GPA

Casino announced that it would exercise its right to become the sole controlling shareholder of Grupo Pao de Acucar, a decision that could undermine the influence of the president's first distributor in Brazil .

The influence of the French retailer Grupo Pao de Acucar has intensified since President and member of the founding family Diniz attempted to mount last year a merger with Carrefour. 

"To prepare for the reorganization of the control of Companhia Brasileira de Distribuicao (GPA) on 22 June, as provided in the shareholders of the company ; Wilkes (which controls GPA), Casino Guichard-(Casino) informed his partner that day Mr. Diniz it intended to exercise its contractual right to appoint the Chairman of the Board of Directors Wilkes, "said Casino in a statement released Wednesday evening.

"The decision to exercise this power Casino contract allowed him to obtain exclusive control of GPA, pursuant to the shareholders of the company Wilkes," says Casino, who said so confirm its "long-term commitment in Brazil." 

In the opinion of analysts, litigation with Casino qu'Abilio Diniz involves risks losing its control over a company founded by his father in 1948.

A spokesman representing the interests of the family Diniz said the right to control Casino was established in a shareholders' agreement and added that 'Diniz remain president Henrique.

But some analysts say it will not only be a minority shareholder of a corporation over which he exercised control once.

Its proposed alliance with Carrefour had received a time downstream of the Brazilian government, which subsequently withdrew its support. 

But Casino, who paid a premium to exercise its right to control when he came to the rescue of the distributor in 1999, had strongly opposed this and appealed to the courts.

The local press also wrote qu'Abilio Diniz wanted to propose a split of the subsidiary appliances, leaving the Casino supermarket division, which represents roughly half of turnover of the group.

Nissan and Dongfeng trucks come out of their joint venture

Nissan Motor and Dongfeng Motor Group will split the truck business of their Chinese joint venture for the transfer to the parent of Dongfeng public, paving the way for local production of Renault and Infiniti cars and a possible rapprochement between Dongfeng and Volvo trucks, reported Monday the website sina.com.

The activity of Nissan cars in the joint venture will remain intact, as its agreement with Dongfeng Automobile in small utilities, sina.com said, citing unidentified sources.

The hypothesis of an alliance between Dongfeng and Volvo Trucks is regularly mentioned for years but neither industry has recently reported on the subject. 

To get the green light from Nissan, Dongfeng could allow the Japanese manufacturer to produce its premium brand Infiniti and Renault models as part of their joint venture.

No spokesman for Dongfeng could not be immediately available for comment. A representative of Nissan said the group did not have information about an agreement.

As part of such an agreement, Dongfeng Motor will resume activity heavyweights as of July 1, said article of sina.com. He gives no details on the timing of an agreement Dongfeng-Volvo, nor on that of the production Infiniti and Renault.

Volvo has broken several years ago an alliance with China National Heavy-Duty Truck due to weak sales thereof.

Aid to Greece may be only a brief respite

The largest ever corporate debt restructuring may be only a brief respite for Greece, a country in recession, which has to bear in addition the uncertainty of the next election .

Greece Friday dismissed the risk of imminent default, thanks to the strong participation of private creditors in exchange for bonds which allow the country reduce its debt of a hundred billion euros and receive a second level of international aid amounting to 130 billion euros.

"This exchange does not solve the situation in Greece," said Holger Schmieding, economist at Berenberg Bank. "Obviously, without him, Greece is in the hole but his problem is the return to growth, without it, no debt burden is manageable."

It is estimated that gross domestic product (GDP) contracted by Greek 15% since 2008. More than one in ten jobs disappeared and more than half of youth are unemployed.

The new austerity measures agreed in exchange for a new international aid, as 20% reduction in the minimum wage, may plunge the country deeper into recession. It would be impossible for the government to achieve the fiscal targets set by international donors in exchange for their help.

"The risk is great that more austerity puts the country to its knees," said Diego Iscaro (ISH Gloal Insight), holding that the social situation could become "explosive" if unemployment continues to rise in a country with almost daily demonstrations against austerity.

Austerity and delays in the reform of the state have made the recession deeper than foreseen in the European Union and the International Monetary Fund since 2010. 

Athens has also consistently missed its fiscal targets and has continued to downgrade to no longer occupy the 90th place out of the 142 countries included in the Global Competitiveness Forum world economy.

"The main reason why the rest of Greece in the euro area is because the choice is really bad. But if we go to press without giving a little air to the economy, sooner or later people will have enough, "says Diego Iscaro

…. RESTRUCTURING ….. MORE SEVERE

Polls show a majority of Greeks remain attached to membership ; the euro area but they are increasingly likely to be tempted to vote for parties that oppose reforms attached to international aid, early elections ; es which could be held in late April

. "If there are elections in April or May, markets Financial will remain about as nervous vis-à-vis Greece they were during the two and a half years, "notes Holger Schmieding. "It would be a huge element of uncertainty for Greece and for Europe".

Even if the recount resulted in a new coalition party of New Democracy and PASOK socialist and if it intended to carry out reforms, it could end up a target of popular pressure e ; standard if the donors demanded more sacrifices during their quarterly inspections.

"If the troika (EU, IMF, European Central Bank) said: 'You're late and you have set up for x billion austerity measures', this risk be the spark that ignites the powder, "said Ben May (Capital Economics). 

In a confidential report, the EU and the IMF warned that the bailout plan can easily derail the debt and return to its pre trade if Greece continues to fail its objectives or if the recession is more severe than expected.

Even if the bailout succeeds in reducing the debt of Greece to 120% of GDP by 2020 as against 160% at present, this new percentage is not considered manageable the long term.

"We think we need to prepare for a more severe restructuring at one time or another, which may imply official creditors," says Ben May. "That's the only way to lower Greece's debt significantly."

The problem is that Greece does not have a good record as it was supposed to reforms undertaken under the first bailout and in this case, donors may be much less streaming in their quarterly inspections.

"If Greece continues to miss its targets, while the troika or later may lose patience and turn off the tap of credit," observed Diego Iscaro.

The credit was sent back to U.S.

The consumer loans have almost regained their pre-crisis dynamism Some U.S. consumers during the "Black Friday", Friday, October 26, 2010 REUTERS / Adam Hunger

The consumer credit surged for the third consecutive month in the U.S. in January, according to figures released Wednesday by the U.S. central bank (Fed).

Outstanding consumer credit in the country (2,512.3 billion) grew by 8.6% annually and seasonally adjusted data for the previous month, the Fed said on its website .

Using this type of borrowing has accelerated compared to December, where the increase in consumer credit was 7.9%. The increase in assets was nevertheless lower than in November (9.8%). Volume, growth in January was 17.8 billion compared with December, according to figures from the central bank, which is well above the increase expected by the analysts ($ 12.0 billion according their median estimate).

The Federal Reserve, the January increase was the result of a new surge in non-recurrent (student loans or buying a car mainly), whose growth was 14.7%, the highest since February 2002.

Revolving loans (primarily those made by paying by credit card) have slowed progress of the Fed index backwards for the first time in five months, 4.4% from December.

After collapsing for two years, the consumer credit rose almost continuously in the United States since October 2010 (it fell only once since then, in August 2011). The Fed said that the whole of 2011, the consumer credit rebounded 3.6%.

Chemistry weigh on profits of Bayer in Q4

The benefits of Bayer, the first German manufacturer of drugs, emerged below expectations in the fourth quarter 2011 due to disappointing sales in its chemicals division, and the group has demonstrated caution for this year.

MaterialScience division, the world of polymer foams and polycarbonate for automotive glazing, has seen its quarterly results adjusted to fall by 64%, price increases were not sufficient to offset the higher commodity prices.

Bayer said it expected a significant rebound performance at MaterialScience in the first quarter of this year over last in 2011 but they reach their previous level. 

For 2012, Bayer expects a slight increase in its adjusted EBITDA, with an increase of about 3% of sales excluding currency effects and acquisitions, taking advantage of a rebound expected in the second half thanks to emerging markets.

The group sees the other hand, a real growth in 2013, both for its sales to its adjusted EBITDA.

His four most promising molecules, foremost among them the anticoagulant Xarelto, have a potential combined turnover of around EUR 5 billion, he said. But this potential, however, should not be felt this year.

In the fourth quarter 2011, EBITDA (EBITDA) adjusted fell 8.8% to 1.54 billion euros, while analysts polled by Reuters had forecast average 1.62 billion.

Quarterly net income stood at 397 million euros, while the consensus was 479 million, and revenue was 9.19 billion euros, against 9.114 billion expected.

These ads Bayer contrast with those of its competitor BASF, which surprised investors last week by his decidedly optimistic tone for 2012.

In exchange, the action Bayer yielded 0.8% to 55.45 euros at 1130 GMT, underperforming the European sector index to chemicals (0.1%). BASF took title to 0.6% 66.23 euros.

Consumer confidence unchanged in February

The index of consumer confidence in France is almost stable in February compared with the previous month, announced Friday INSEE.

The composite indicator is 82 against 81 in January.

In February, consumer confidence about their personal financial situation went down 2 points, INSEE said.

That their future personal finances rose 2 points, while remaining below its long-term average. Households are also more numerous than in January to consider it advisable to make major purchases (5 points).