" More still, it is all the French artistic creation which is honored ", he added, Marion Cotillard having got(touched) " the whole world by embodying another big French artist, Edith Piaf, among whom the voice(vote) and the fabulous fate resound in each of us ".
He also underlined " the vitality of the French film creation ", by mentioning the Oscar of the short film for " Mozart of the pickpockets " of Philippe Pollet-Villard.Tuesday, February 26, 2008
Marion Cotillard, Oscar of the best actress
Rewarded for her(its) Edith Piaf's interpretation(performance) in " The Kid " of Olivier Dahan, she(it) seemed very touched, squeezing(tightening) the statuette in the hands. It is the first time since 1960 and the Oscar given to Simone Signoret that a Frenchwoman receives this price(prize).
Marion Cotillard takes away(gains) the Oscar of the best actress for his role in " The kid ", Olivier Dahan ( AP) ( AP)
Already crowned in Golden Globes, in BAFTAs and in Caesar, the French actress makes a success of an exceptional quarté by taking away(by gaining) prestigious statuette of the 80th ceremony of Oscars, in Los Angeles.
She so joins in the history(story) of Academy Awards Simone Signoret, which had received the statuette gilded(bronzed) in this category 38 years ago for " The roads of the high city ", British film of Jack Clayton.
" You upset my life "
" Thank you, thank you ", she said, very touched, squeezing(tightening) the statuette in the hands. " Mister Olivier Dahan, you upset my life, really ", she declared to the address of the French director of " The Kid ". " Thanks to the love! It's true, there are angels, here in this city ", she threw(launched) before leaving(restarting) towards the wings of Kodak Theater of Hollywood and collapsing, in tears, in the arms of Forest Whitaker, prize-winner of the Oscar of the best actor last year for her role in " last king of the Scotland ".
That the Academy(Regional education authority) of Oscars crowns a foreign actress in a film in foreign language is an extremely rare phenomenon. As far as Marion Cotillard faced on Sunday serious pretenders, to begin with Julie Christie for his interpretation(performance) of a woman reached(affected) by the Alzheimer's disease in " Far from her ". "Juno") was also in running(race) Cate Blanchett (" Elisabeth: the Golden age "), Laura Linney (" The Savage family ") and the young person Ellen Page (.
Embodiment
The role of Piaf stands out as most standing the out with the Marion Cotillard's actress's already long career(quarry), 32-year-old. Reward which came to be added in one Golden Globe (better actress in a comedy or a musical film), the Oscars of the press foreign to Hollywood, and to a BAFTA, Caesar British ( better actress).
Edith Piaf's interpretation(performance) which the actress delivers in the film by making the artist of her young years live again at the end of her life is impressive. Beyond the make-up, she(it) resumed(took back) the step(initiative), the expressions and the intonations of the one who sang " The hymn in the love ", until embody him(it) totally.
Girl of a comedienne and a director, a brunette actress with the blue eyes dashed into the dramatic art in the adolescence, her mixture disarming(moving) of sweetness and rudeness allowing him(her) gradually to chain the roles. The public notably saw her(it) in the series of the "Taxi" products by Luc Besson, " The Gilles Paquet-Brenner's attractive Things ", " An Affair(Business) Deprived " of Guillaume Nicloux, " My Life in the air(sight) " of Rémi Bezançon, " On long Sunday of engagement " of Jean-Pierre Jeunet (who had been worth to him(her) the Caesar of the best feminine supporting role) or still "Mary d' Abel Ferrara". ( AP)
Tuesday, January 29, 2008
FRAUD HAS THE GENERAL COMPANY(SOCIETY)
The responsibility of the CEO Daniel Bouton questioning
29.01.2008 ¦ 09:43
The Minister Christine Lagarde considers that it means " to the administrators making their decision " on its preservation in the head of the bank, whereas Nicolas Sarkozy implicitly declared that he wished his resignation. The trader Jérome Kerviel, indicted on Monday evening, asserts that the other traders of the General Company(Society) invests(surrounds) beyond authorizations.
Daniel Bouton
The indictment, on Monday evening, of the trader of the general Company Jérome Kerviel, which would be responsible for a record 4,9 billion euro loss, did not raise the questioning on the role of the CEO of the bank, Daniel Bouton.
The Minister of Finance Christine Lagarde asserted, on Tuesday, January 29th, that it meant " to the administrators making their decision " on the preservation or not of Daniel Bouton in the head of the General Company(Society), on Tuesday on LCI. Lord Chancellor, Rachida Dati considered on France Info that the responsibility of the CEO of the General Company(Society), Daniel Bouton, " can be engaged(started) ". On France Inter, Jean Arthuis, president of the committee(commission) of the finances to the Senate expressed too his doubts on Tuesday morning: " I do not think that Button can make what(whom) to leave ", he declared.
Sarkozy demands implicitly his(her) resignation
On Monday, Nicolas Sarkozy implicitly declared that he wished the resignation of Daniel Bouton. " I do not like concerning a personal judgment(sentence) people, especially when they are in the difficulty, but (...) When we have a strong payment, what was doubtless justifiable, and that there is a strong problem, we cannot exempt themselves from responsibilities ", declared the president.
" When there is an event of this nature, that cannot stay without consequences s'agissant responsibilities. Each has to wonder about his responsibilities ", he(it) repeated.
The socialist deputy Pierre Moscovici was more explicit, declaring " completely not to believe in the thesis of the isolated man ".
Freely under legal restriction
The trader Jérome Kerviel was indicted on Monday, but left freely under legal restriction without that the charge of swindle is held(retained) against him.
Outside the hearing(audition), the lawyers(avocados) of Kerviel criticized in front of the journalists the complaint of the bank, because according to them the practices of commitment of traders beyond the theoretical authorizations were known and tolerated by the direction(management). They want it for proof that Jérome Kerviel asserts that he had to get(touch) a 300.000-euro bonus in conformance with his earnings(gains) for the benefit of the bank for 2007. Lawyers(avocados) are now going to ask for the hearing(audition) of all the people in charge of the bank.
The prosecutor revealed that the market of by-products Eurex, on whom Kerviel had taken important positions, had alerted(notified) the general Company(Society) last November schemes of the trader, which would then have produced a false supposed document to give evidence of the cover(blanket) of the risk.
Failed bet
The magistrate confirmed that Jérome Kerviel had operated on forward contracts bound(connected) to European stock indexes and that he had almost to gain(win) his bet. Actually, his(her,its) astronomical 50 billion euro positions - the equivalent of the GDP of Morocco - had virtually made gain(win) 1,4 billion euro to the bank on December 31st, 2007, and they were still credit three days before its liquidation(sales). Mrs Christian Charrière-Bournazel so exploits(asserts) that it is the general Company(Society) which realized the loss by deciding to liquidate the positions at the beginning of the week last one, while markets were falling(flopping).
Christian Noyer, the governor of the Bank of France, defended(forbade) the attitude of the general Company(Society) by explaining that the establishment had been right to liquidate without waiting for the deceitful position since she(it) had been discovered.
" The position was 50 billions. From the moment the president (of the bank) knew this position, it became its position ", he explained.
" This decision is probably the only one who could be taken to make sure that the establishment would not run(roam) so for a long time a dramatic risk ", he added.
The Minister of Finance Christine Lagarde clarified that she would put back(hand) on Friday to the Prime Minister François Fillon the report(relationship) for which he asked him(her) on the affair(business).
Monday, January 28, 2008
Hillary Clinton considers that her husband
Became enraged with Barack Obama
Dreading a return of the racial divisions within the democratic party, people in charge had judged the allusions steered by the ex-president against the candidate victorious half-blood in South Carolina, "little elegant".
Hillary Clinton in South Carolina
Hillary Clinton, candidate in the democratic nomination, granted on Sunday, January 27th that her husband, Bill Clinton, had been too far in his attacks against his competitor Barack Obama. Statements(declarations) which explain by the love which he(it) carries(wears) him(her) and because of a lack of sleep, according to her.
" He(it) was maybe allowed little take. You know, it arrives in a competed election ", raised(found) Hillary Clinton. The day before(wakefulness), the South Carolina had voted mainly for Barack Obama during the primary of the party.
Dreading a return of the racial divisions within the democratic party, people in charge had judged the allusions steered by the ex-president against the candidate a half-blood, "little elegant".
" Miss sleep "
On the basis of polls(soundings) exit(release) of urns(ballot boxes), political commentators had considered that Bill Clinton's strategy had returned against his wife in South Carolina, because it had provoked a contraction of the black community around Barack Obama, without dissuading the white youth to vote for him.
In the chain(channel) CBS which asked him(her) if her husband was "unverifiable", Hillary Clinton advanced the depth of his commitment beside him.
" You know, my husband is very committed in my sides and in my campaign(country) ", asserted the senator of New York. " He loves me, you know, as make him(it) these men(people) and these women who work the one for the other one ".
According to her, the skids of her husband can explain by " the lack of sleep which, you know, marks us all, our families, our supporters ".
Last week, the former(ancient) leader of the democratic Party to the Senate Tom Daschle, which support of Barack Obama, had considered that Mr Clinton's attacks " did not correspond just like a former president ". " To tell the truth, I am surprised that he(it) adopted this approach ", had regretted Tom Daschle.
Friday, January 25, 2008
FRAUD OF 4,9 BILLIONS Société Générale
General company(society): questioning on Jérome Kerviel's role 25.01.2008 ¦ 10:54
The lawyer of the broker asserts that her customer " did not flee ". Numerous analysts doubt that a single man can be responsible for 4,9 billion euro of losses.
The lawyer of Jérome Kerviel, suspected of having made lose 4,9 billion euro to the General Company(Society), asserted on Thursday evening, January 24th that her customer " did not flee ".
Mrs Elisabeth Meyer declared to AFP: " I confirm that my customer did not flee ". " It was verbally indicated to him(her) on January 20th by his employer, the General Company(Society), that he(it) was put on foot and it was asked to him(her) not to appear at its job(workstation) next Monday, in January 21st ", clarified Mrs Meyer.
She added that her customer " is looking forward to a written announcement of this measure ".
The sceptic analysts
But numerous analysts remain sceptic in front of the General explanations of the Company(Society), according to which a single man would be responsible for 4,9 billion euro of losses.
" The feeling of dealing rooms, it is because it is not possible that a single individual was able to make it. The General Company(Society) would have loaded(charged) the boat on the subject of the fraud to make cross(spend) several bad operations of market ", advance(move) Elie Cohen, research director(manager) to the NATIONAL CENTRE FOR SCIENTIFIC RESEARCH, questioned by AFP.
" The General Company(Society) says to us that a senior broker speculated on actions(shares), notably indications of actions(shares), without covering itself. He(it) would have hidden the losses become quickly colossal. It seems that he acted during all year 2007 ", he called back(reminded).
"A little bit big"
" It seems a little bit big that during a whole year we can hide " such a loss.
The General Company(Society) says that " the broker knew so well the operations of internal control " that he managed to hide his losses, pursues Elie Cohen, what means that " the procedures of control intern which normally establish(constitute) the core business of banks showed themselves dramatically insufficient ".
From his part, Marc Touati, economist at Global Equities, asserts that " all people who work in banks know that, when the losses reach(affect) certain level, we cut the positions. Losses can reach(affect) 100-200 million euro, but 5 billions, it is impossible ".
" Let be what the bank says be true. In that case, there is a problem of control of the risks and it can throw(cast) the depreciation on the General Company(Society), as far as his(her,its) comparative advantage, it is to be a champion of the activities of market. Let be one does not know everything ", he(it) argues.
" Load(charge) a poor guy "
The General Company(Society) is maybe " load(charge) a poor guy to make cross(spend) losses which accumulated " during the crisis of "subprimes", makes more expensive(adds) an analyst of a company(society) of management.
" A single person cannot provoke such a disaster. If a broker acts for a customer, at least three persons come into play to give the order, pass on it and execute him(it) ", estimates(esteems) Arnaud Riverain, analyst of Arkéon Finance, who reminds however that there are the precedents, as the bankruptcy of the British bank Barings in 1995, because of a single man, Nick Leeson.
" Hard to hide "
Peter Cardillo, analyst of Avalon Partners in New York, judge difficult, seen amounts in game(set,play), that the broker of the General Company(Society), Jérome Kerviel, was able to act only " except if it is about Einstein ".
For Mace Blicksilver, of Marbelhead Asset Management, if the fraud had begun " three weeks ago, it is completely possible whom a single person is there originally. Longer, it seems to me hard to hide ".
The governor of the Bank of France Christian Noyer said from his part "someone to himself" that the 4,9 billion euro loss undergone by the General Company(Society) was not attributable at the bank which would have try to disguise losses bound(connected) to the crisis of "subprime". Questioned on this subject about LCI, he answered: " not, it is absolutely certain ".
The UNITED STATES
The risk of recession is 50 % , 25.01.2008 ¦ 10:19
It is what estimates(esteems) the former president of the Fed, Alan Greenspan.
The former president of the federal Reserve Alan Greenspan
The former president of the federal Reserve Alan Greenspan
C) Reuters
The former president of the federal American Reserve, Alan Greenspan, estimated(esteemed), on Thursday, January 24th, at " 50/50, maybe a little more " the risk of recession in the United States. " We are not there still ", he assured(insured).
The ex-boss of the Fed, who expressed himself during a movement in Vancouver, besides defended(forbade) mortgages at risk, "subprimes" in English, judging that they had helped to increase the access to the property, more particularly among minorities.
Subprimes, at the origin of the crisis of the credit
However, he(it) recognized, what was at the beginning only a product very specialized the mortgage market knew a growth when the speculative capital was interested in the commercial paper leaned in the loans.
He recently asserted that the grouping of these mortgage loans at risk in products, and not the loans themselves, who were then offered as titles(securities) of debts to the investors, was at the origin of the international crisis of the credit. Alan Greenspan steered Fed during 19 years, from 1987 till 2006, before being replaced by Ben Bernanke.
It is what estimates(esteems) the former president of the Fed, Alan Greenspan.
The former president of the federal Reserve Alan Greenspan
The former president of the federal Reserve Alan Greenspan
C) Reuters
The former president of the federal American Reserve, Alan Greenspan, estimated(esteemed), on Thursday, January 24th, at " 50/50, maybe a little more " the risk of recession in the United States. " We are not there still ", he assured(insured).
The ex-boss of the Fed, who expressed himself during a movement in Vancouver, besides defended(forbade) mortgages at risk, "subprimes" in English, judging that they had helped to increase the access to the property, more particularly among minorities.
Subprimes, at the origin of the crisis of the credit
However, he(it) recognized, what was at the beginning only a product very specialized the mortgage market knew a growth when the speculative capital was interested in the commercial paper leaned in the loans.
He recently asserted that the grouping of these mortgage loans at risk in products, and not the loans themselves, who were then offered as titles(securities) of debts to the investors, was at the origin of the international crisis of the credit. Alan Greenspan steered Fed during 19 years, from 1987 till 2006, before being replaced by Ben Bernanke.
The republican candidates approve
The plan(shot) of economic stimulus plan 25.01.2008 ¦ 10:20
Mitt Romney, John McCain and Rudolph Giuliani regret however that the measures decided between the White House and the Congress do not go farther, notably in fiscal reduction.
Mitt Romney and John McCain during the television debate ( AP)
Mitt Romney and John McCain during the television debate ( AP)
The republican candidates approved on Thursday, January 24th the plan(shot) of economic stimulus plan concluded between the Bush administration and the Congress. They regret however that he(it) does not go rather far.
" Many things in this plan(shot) are effective, but I would wish that he(it) goes farther ", indicated the ex-governor of the Massachusetts Mitt Romney during a television debate in five days of primary crucial of Florida (southeast). " I would make him(it) more effective by stressing " the fiscal discounts in begun, he added
" I shall vote for " this plan(shot), has from his part, asserted the senator John McCain, while saying himself "disappointed" that he(it) no pérennise not no declines of tax implementations by the Bush administration, and that he(it) does not deepen(fathom) the decline of the company tax.
The ex-mayor of New York Rudolph Giuliani judged too that the plan(shot) " does not go rather far ".
The debate, deprived of personal attacks, was centred on the budgetary questions.
Spades(Pikes) against Hillary Clinton
On the other hand, the republicans did not save(spare) the democrats, and particularly the senator of New York Hillary Clinton, one of the favourites of the race for the Democratic nomination.
" The fact is, we are succeeding in Iraq ", declared John McCain. " If we make that Mrs Clinton indicated that she wanted the day before yesterday, and that we raise the flag white with the surrender and fix a date of retreat(withdrawal), then we are going to have a cost, my friends, in American blood and in finances, because then Al-Qaïda will have gained(won) ", he asserted.
Mitt Romney assured as for him that he " roasted of impatience " to face Hillary Clinton in the presidential elections of November: " she(it) is so in gap with the Americans ", he said, persuaded that the voters would notably reject his(her,its) projects to return the universal health insurance.
He(It) also evoked a possible return of the former president Bill Clinton to the White House as First husband: " the idea that Bill Clinton returns to the White House with nothing to make, I do not manage to imagine him(it) (...) What we want, it is one president, not a teaming up couple by saying to himself that they are going to steer the country ", he added.
Mitt Romney, John McCain and Rudolph Giuliani regret however that the measures decided between the White House and the Congress do not go farther, notably in fiscal reduction.
Mitt Romney and John McCain during the television debate ( AP)
Mitt Romney and John McCain during the television debate ( AP)
The republican candidates approved on Thursday, January 24th the plan(shot) of economic stimulus plan concluded between the Bush administration and the Congress. They regret however that he(it) does not go rather far.
" Many things in this plan(shot) are effective, but I would wish that he(it) goes farther ", indicated the ex-governor of the Massachusetts Mitt Romney during a television debate in five days of primary crucial of Florida (southeast). " I would make him(it) more effective by stressing " the fiscal discounts in begun, he added
" I shall vote for " this plan(shot), has from his part, asserted the senator John McCain, while saying himself "disappointed" that he(it) no pérennise not no declines of tax implementations by the Bush administration, and that he(it) does not deepen(fathom) the decline of the company tax.
The ex-mayor of New York Rudolph Giuliani judged too that the plan(shot) " does not go rather far ".
The debate, deprived of personal attacks, was centred on the budgetary questions.
Spades(Pikes) against Hillary Clinton
On the other hand, the republicans did not save(spare) the democrats, and particularly the senator of New York Hillary Clinton, one of the favourites of the race for the Democratic nomination.
" The fact is, we are succeeding in Iraq ", declared John McCain. " If we make that Mrs Clinton indicated that she wanted the day before yesterday, and that we raise the flag white with the surrender and fix a date of retreat(withdrawal), then we are going to have a cost, my friends, in American blood and in finances, because then Al-Qaïda will have gained(won) ", he asserted.
Mitt Romney assured as for him that he " roasted of impatience " to face Hillary Clinton in the presidential elections of November: " she(it) is so in gap with the Americans ", he said, persuaded that the voters would notably reject his(her,its) projects to return the universal health insurance.
He(It) also evoked a possible return of the former president Bill Clinton to the White House as First husband: " the idea that Bill Clinton returns to the White House with nothing to make, I do not manage to imagine him(it) (...) What we want, it is one president, not a teaming up couple by saying to himself that they are going to steer the country ", he added.
Thursday, January 24, 2008
Bounce(Recovery) of stock exchanges in Europe with Wall Street and Tokyo
24.01.2008 ¦ 10:40
PARIS - The European stock exchanges are in increase sensitive(perceptible) Thursday morning, aligning itself with Wall Street and with Tokyo, in the hope of a rescue of the rehausseurs of credit in the United States.
The investors however have to absorb one of the important day facts: the massive fraud the general company of which was a victim.
The Dow Jones gained(won) 2,5 % on Wednesday, reacting to the announcement of a meeting between the authorities of regulation of New York, the rehausseurs of credit and their clientele.
Stimulated by Wall Street, Tokyo posted(showed) she(it) a 2,06 % earnings(gain) in fence(close), the values in the export in particular getting back of the ground thanks to purchases cheap.
On the other hand, the indication Hang Seng of the stock exchange of Hong-Kong posts(shows) a 2,29 % loss in fence(close), in the term of an uneven session, affected exactly by the affair(business) of the general Company(Society).
The indication FTSEurofirst 300 gains(wins) about 4 % in the morning, the FTSE more than 3 %, the Dax 4,7 % and CAC-40 4,5 %.
An indication Ifo of the climate of the business(affairs) in Germany superior to the waits(expectations) is not possible in itself that to confirm the bullish orientation of stock markets.
This indication stood out(went out again) in 103,4 in January against 103,0 in December and 102,2 waited.
It is the element marking in the daytime, explains Edmung Shing, strategist of BNP Paribas, making reference to this meeting.
" It would be logical that the American and European banks coordinate with the regulators of the United States to bail out(to refloat) these insurers because if they collapse, it will be more catastrophic for the balance sheets(assessments) of banks and we left for a new wave of depreciations ".
The general Company(Society) announced on Thursday the discovery of a deceitful position in its activities of trading for appropriate(clean) account the débouclage of which will have a 4,9 billion euro impact on its accounts.
She adds that her net profit 2007, leaves the group, will be understood(included) between 600 and 800 million euro (against 5,22 billions in 2006), after consideration of new 2,05 billion euro depreciations bound(connected) to the crisis of the market of the credit. The bank will throw(launch) finally a 5,5 billion euro increase in capital.
The opening of the transactions(deals) on the bank was postponed. The agency of notation Fitch returned its note of AA to AA-on the bank but Goldman Sachs removed her(it) of its " conviction sell list " while staying in the sale.
The Bank of France let know that an inquiry would be opened by the banking Committee(Commission) and the Minister of Finance Christine Lagarde will express himself during the day.
BANKING AND HIGH TECHS IS ON THE ROLL
The banking are not affected by the setbacks of SocGen. BNP Paribas gains(wins) 6,8 %. The bank asserts that the order of the accounts 2007 reveals nothing which would justify(prove) " a particular warning to the market ".
Royal Bank of Scotland gains(wins) about 6 %.
The technological have too the wind in stern. Nokia, who has to publish his(her) accounts around 11:00 am GMT, progresses of 8,35 %. Siemens advance of 5,2 %, having raised(found) his(her,its) annual forecasts following his(her,its) robust results(profits) of the first quarter.
German Software AG jumps up with 8,4 % because he too raised(found) his annual objectives after the robust fourth quarter.
This ascent(rise) of stock markets also benefits the oil(petroleum), which posts(shows) earnings(gains) of more than 1 % not far from 88 dollars the barrel for the American crude oil(gross salary).
On the other hand, she(it) does not make the affair(business) of the bond market European where the prices(lessons) fall. The contract of March on Bund loses 0,52 % in 116,46, while it had registered a peak of 118,08 in the week, when stock exchanges were cut in details(rooms).
PARIS - The European stock exchanges are in increase sensitive(perceptible) Thursday morning, aligning itself with Wall Street and with Tokyo, in the hope of a rescue of the rehausseurs of credit in the United States.
The investors however have to absorb one of the important day facts: the massive fraud the general company of which was a victim.
The Dow Jones gained(won) 2,5 % on Wednesday, reacting to the announcement of a meeting between the authorities of regulation of New York, the rehausseurs of credit and their clientele.
Stimulated by Wall Street, Tokyo posted(showed) she(it) a 2,06 % earnings(gain) in fence(close), the values in the export in particular getting back of the ground thanks to purchases cheap.
On the other hand, the indication Hang Seng of the stock exchange of Hong-Kong posts(shows) a 2,29 % loss in fence(close), in the term of an uneven session, affected exactly by the affair(business) of the general Company(Society).
The indication FTSEurofirst 300 gains(wins) about 4 % in the morning, the FTSE more than 3 %, the Dax 4,7 % and CAC-40 4,5 %.
An indication Ifo of the climate of the business(affairs) in Germany superior to the waits(expectations) is not possible in itself that to confirm the bullish orientation of stock markets.
This indication stood out(went out again) in 103,4 in January against 103,0 in December and 102,2 waited.
It is the element marking in the daytime, explains Edmung Shing, strategist of BNP Paribas, making reference to this meeting.
" It would be logical that the American and European banks coordinate with the regulators of the United States to bail out(to refloat) these insurers because if they collapse, it will be more catastrophic for the balance sheets(assessments) of banks and we left for a new wave of depreciations ".
The general Company(Society) announced on Thursday the discovery of a deceitful position in its activities of trading for appropriate(clean) account the débouclage of which will have a 4,9 billion euro impact on its accounts.
She adds that her net profit 2007, leaves the group, will be understood(included) between 600 and 800 million euro (against 5,22 billions in 2006), after consideration of new 2,05 billion euro depreciations bound(connected) to the crisis of the market of the credit. The bank will throw(launch) finally a 5,5 billion euro increase in capital.
The opening of the transactions(deals) on the bank was postponed. The agency of notation Fitch returned its note of AA to AA-on the bank but Goldman Sachs removed her(it) of its " conviction sell list " while staying in the sale.
The Bank of France let know that an inquiry would be opened by the banking Committee(Commission) and the Minister of Finance Christine Lagarde will express himself during the day.
BANKING AND HIGH TECHS IS ON THE ROLL
The banking are not affected by the setbacks of SocGen. BNP Paribas gains(wins) 6,8 %. The bank asserts that the order of the accounts 2007 reveals nothing which would justify(prove) " a particular warning to the market ".
Royal Bank of Scotland gains(wins) about 6 %.
The technological have too the wind in stern. Nokia, who has to publish his(her) accounts around 11:00 am GMT, progresses of 8,35 %. Siemens advance of 5,2 %, having raised(found) his(her,its) annual forecasts following his(her,its) robust results(profits) of the first quarter.
German Software AG jumps up with 8,4 % because he too raised(found) his annual objectives after the robust fourth quarter.
This ascent(rise) of stock markets also benefits the oil(petroleum), which posts(shows) earnings(gains) of more than 1 % not far from 88 dollars the barrel for the American crude oil(gross salary).
On the other hand, she(it) does not make the affair(business) of the bond market European where the prices(lessons) fall. The contract of March on Bund loses 0,52 % in 116,46, while it had registered a peak of 118,08 in the week, when stock exchanges were cut in details(rooms).
Wednesday, January 23, 2008
The deputies PS to Lagarde: " everything goes very well Madam Marchioness "
Questioned by Laurent Fabius about the financial crisis, the Minister of Finance answered that " the real economy (worked) well ". The elected representatives of the opposition then resumed(took back) in choir the tune of Ray Ventura's song.
Christine Lagarde ( Sipa)
Christine Lagarde ( Sipa)
The deputy PS intoned " everything goes very well Madam Marchioness ", on Wednesday, January 23rd in the National Assembly, during the session of the questions of current events at the address of the Minister of Finance, Christine Lagarde, questioned by Laurent Fabius about the financial crisis.
Asserting that " the real economy (...) Work, please ", Christine Lagarde drew a flattering picture(board) of his politics(policy), quoting the increase of the consumption, the new business start-ups and the jobs(uses) and assuring that France " made in this context (of financial crisis) before and better than the United States ".
Right after the Minister returned to the bench of the government, the sometimes hilarious elected representatives resumed(took back) in choir the tune created in 1935 by the singer Ray Ventura, thrown(launched) by the deputy of the North, Christian Bataille.
" Stop the dogmatic attitude "
Previously the former(ancient) Prime Minister Laurent Fabius had made " six propositions " in front of the financial crisis.
He(It) had suggested that the government formulates economic objectives " on-line with the events ", leads a " particular action(share) in the direction of SMALL AND MEDIUM-SIZED FIRMS and households(houseworks) ", acts at the European level for " to stop the dogmatic attitude " of the BCE, requires(demands) at the level international " a transparency of the financial, banking rules " and demand " that the IMF sees confiding(entrusting) a mission of alert on these subjects ".
The PS blames the government " to make as if the events do not concern France " and " to make the burying of heads in the sand ", according to the comments of deputies.
Christine Lagarde ( Sipa)
Christine Lagarde ( Sipa)
The deputy PS intoned " everything goes very well Madam Marchioness ", on Wednesday, January 23rd in the National Assembly, during the session of the questions of current events at the address of the Minister of Finance, Christine Lagarde, questioned by Laurent Fabius about the financial crisis.
Asserting that " the real economy (...) Work, please ", Christine Lagarde drew a flattering picture(board) of his politics(policy), quoting the increase of the consumption, the new business start-ups and the jobs(uses) and assuring that France " made in this context (of financial crisis) before and better than the United States ".
Right after the Minister returned to the bench of the government, the sometimes hilarious elected representatives resumed(took back) in choir the tune created in 1935 by the singer Ray Ventura, thrown(launched) by the deputy of the North, Christian Bataille.
" Stop the dogmatic attitude "
Previously the former(ancient) Prime Minister Laurent Fabius had made " six propositions " in front of the financial crisis.
He(It) had suggested that the government formulates economic objectives " on-line with the events ", leads a " particular action(share) in the direction of SMALL AND MEDIUM-SIZED FIRMS and households(houseworks) ", acts at the European level for " to stop the dogmatic attitude " of the BCE, requires(demands) at the level international " a transparency of the financial, banking rules " and demand " that the IMF sees confiding(entrusting) a mission of alert on these subjects ".
The PS blames the government " to make as if the events do not concern France " and " to make the burying of heads in the sand ", according to the comments of deputies.
The European stock exchanges close in clear(net) recession(drop)
The European stock exchanges again closed on a clear(net) recession(drop). Paris lost 4,25 %, Frankfurt 4,88 %, and London 2,28 %. They were disappointed by the statements(declarations) of the president of the Central european bank who recognized on Wednesday the risks for the growth of the Euro-zone but excluded any decline of the rates. Wall Street, which had opened in decline, then reduced its losses. At about 5:10 pm, the Dow Jones lost 0,77 % and Nasdaq 1,71 %.
The main European stock exchanges fell again on Wednesday, January 23rd, disappointed by the hesitation expressed by the president of the Central european bank Jean - Claude Trichet to lower(dim) the rates.
Frankfurt lost 4,88 %, Paris 4,25 % and even in Great Britain, London, which is not a part of the Euro-zone, lost 2,28 %.
With this new decline, the CAC 40(PARIS STOCK INDEX) in Paris lost 17,4 % since strip at the beginning of the year, the indication Dax of Frankfurt about 20 %, Madrid 18,75 %, Amsterdam 19,12 % and Milan 14,06 %.
Zurich fell(flopped) for its part 1,76 % on Wednesday, carrying(wearing) its losses since the beginning of the year in more than 13 %.
The president of the BCE Jean-Claude Trichet indicated on Wednesday that the main mission of the European institute was the fight(wrestling) against the inflation, so indicating that it was not ready to lower the rates while the American central bank ( Fed) decreased on Tuesday its main intervention rate of three quarters of no percentage, an exceptional scale.
Wall Street reduces its losses after an opening to strong decline
The New York Stock Echange again opened in strong recession(drop) on Wednesday, January 23rd, so beginning(affecting) its 6th consecutive session of fold. The Dow Jones lost 1,56 % and Nasdaq 2,57 % in the opening, reflecting the anxiety of markets in front of the decline of the American interest rates and of the disappointing forecasts of Apple.
Wall Street however reduced its losses after its opening to strong decline: at about 5:10 pm, the Dow Jones lost 0,77 %, in 11.878 points, and Nasdaq 1,71 %, in 2.253 points. (> the prices(lessons) of the live stock exchanges(scholarships)).
The surprised decline, on Tuesday, of the main guiding interest rate of the federal Reserve ( Fed) in 3,50 %, had allowed the American markets to slow down their fall, without restoring however the optimism at the investors. The Dow Jones had lost 1,06 %, Nasdaq 2,04 % and the POSTAL AREA 500 1,11 %. The careful forecasts delivered for 2008 by Apple (11,95 % in 138,64 dollars), one of the values particularly appreciated by the investors, added to the gloom.
On Wednesday, the stock exchange of Toronto, main place(square) in Canada, was also in decline, the main indication having given up 2,5 % to the opening.
The European stock exchanges in the red
The European stock exchanges sank into the red, on Wednesday, January 23rd at the middle-day, on bottom of anxieties concerning the evolution of the rates in the United States and in Euro-zone.
The European places, having opened in increase, restarted decline after the comments of the president of the Central european bank ( BCE), Jean-Claude Trichet there, letting hear(understand) that he(it) would not follow the example of the American federal Reserve ( Fed) by lowering(dimming) his(its) interest rates.
The president of the BCE indeed indicated that he did not intend to deviate from his politics(policy) by underlining the importance of the "price stability" and by calling back(by reminding) the mandate of the BCE which is to fight against the inflation.
The decline of the star indication DAX of the Frankfurt Stock Exchange crossed(spent) a psychological mattering threshold by reaching(affecting) the 20 % since the beginning of the year, Wednesday in the afternoon. The DAX of thirty star values dived up to 6.384,40 points early in the afternoon, is a 20,86 % recession(drop) or of 1.682,96 points compared with the last closing price of 2007.
The quasi-totality of the European stock markets had nevertheless ended in increase on Tuesday, with the exception of Frankfurt which ended on a light 0,31 % recession(drop). But London progressed of 2,90 % and 2,07 % Paris. Zurich, Amsterdam, Madrid and Milan also finished the session widely in the green.
Istanbul closed down on Wednesday of 4,61 %.
The Latin American stock exchanges
In the trail of the European places, the stock exchange of Sao Paulo relapsed in the opening on Wednesday with a decline of 3,8 %. The indication Ibovespa became established in 53.952 points at 1:30 pm GMT on Wednesday against 59.097 in the fence(close) on Tuesday. At about 5:00 pm ( the hour French time ), Sao Paulo lost 2,49 %, in 54.320 points.
On Monday, the stock exchange of Sao Paulo had plunged of 6,6 % in front of the fear of an American recession, but had got back a good part(party) of its losses on Tuesday with an increase of 4,45 % after the decline of the intervention rate of the American central bank.
Mexico City also opened on Wednesday on a 2,14 % loss.
Financial centers in Asia
In Asia, the stock exchange of Hong-Kong ended on Wednesday on a spectacular bounce(recovery), the indication Hang Seng gaining(winning) 10,72 % at 24.090,17 points in the fence(close).
The stock exchange of Hong-Kong had tumbled of 8,65 % in 21.757,63 points on Tuesday, the investors being always haunted by the fear of a recession in the United States and possible fatal repercussions on all the Asian savings.
In front of these fears, the American federal Reserve decided as a matter of urgency on Tuesday to amputate its main intervention rate of 0,75 no percentage, in 3,50 %, by underlining the risks increased on the economic growth and the deterioration continues financial markets.
The monetary authorities of Hong-Kong announced on Wednesday that they also reduced their intervention rate of 0,75 no percentage, in 5,00 %.
The indication Nikkei de la Bourse de Tokyo ended the session of Wednesday in increase of 2,04 %. The indication Nikkei 225, the not balanced average of 225 star values, resumed(took back) 256,01 points (2,04 %) in 12.829,06 points, getting out of breath a little having won until 3,90 % early in the day. He(it) had melted of more than 9 % during previous both sessions.
The widened indication Topix of all the titles(securities) of the first picture(board) ended for its part on an earnings(gain) of 29,98 points (2,46 %) in 1.249,93 points.
Always in the fence(close), Seoul progressed of 1,21 %, 2,68 % Manilla and New Zealand 0,23 %.
Against the current besides of the region, the composite indication of Shanghaï gave up 0,58 % at the middle-session, and Taïpeh ended in strong 2,29 % fold.
In the middle of session, Jakarta progressed of 4,61 %, whereas Singapore came back carefully on neutral ground (0,03 %) from a starting up in brass band.
In Bombay, the indication Sensex opened in increase of 4,62 %.
The anxiety persists
But the anxiety persisted at the speaker's on the possible consequences of a major economic crisis in the United States, in spite of the statements(declarations) of the White House assuring(insuring) not to expect a recession.
The investors dread not only the distribution to the whole planet of a possible recession in the United States, but also a major crisis of the financial system, filled by the difficulties of the rehausseurs of credit, widely pointed since the beginning of the crisis.
Certain speakers are afraid of an embrittlement of these underestimated actors who are in charge of assuring(insuring) 2.400 billion dollars of obligations(bonds) in traffic(circulation) in the world. A reliable loss in the solidity of rehausseurs gets(touches) in the first one the insurers and the réassureurs, which can pull(entail) as dominoes the banking sectors and more widely financial.
The main European stock exchanges fell again on Wednesday, January 23rd, disappointed by the hesitation expressed by the president of the Central european bank Jean - Claude Trichet to lower(dim) the rates.
Frankfurt lost 4,88 %, Paris 4,25 % and even in Great Britain, London, which is not a part of the Euro-zone, lost 2,28 %.
With this new decline, the CAC 40(PARIS STOCK INDEX) in Paris lost 17,4 % since strip at the beginning of the year, the indication Dax of Frankfurt about 20 %, Madrid 18,75 %, Amsterdam 19,12 % and Milan 14,06 %.
Zurich fell(flopped) for its part 1,76 % on Wednesday, carrying(wearing) its losses since the beginning of the year in more than 13 %.
The president of the BCE Jean-Claude Trichet indicated on Wednesday that the main mission of the European institute was the fight(wrestling) against the inflation, so indicating that it was not ready to lower the rates while the American central bank ( Fed) decreased on Tuesday its main intervention rate of three quarters of no percentage, an exceptional scale.
Wall Street reduces its losses after an opening to strong decline
The New York Stock Echange again opened in strong recession(drop) on Wednesday, January 23rd, so beginning(affecting) its 6th consecutive session of fold. The Dow Jones lost 1,56 % and Nasdaq 2,57 % in the opening, reflecting the anxiety of markets in front of the decline of the American interest rates and of the disappointing forecasts of Apple.
Wall Street however reduced its losses after its opening to strong decline: at about 5:10 pm, the Dow Jones lost 0,77 %, in 11.878 points, and Nasdaq 1,71 %, in 2.253 points. (> the prices(lessons) of the live stock exchanges(scholarships)).
The surprised decline, on Tuesday, of the main guiding interest rate of the federal Reserve ( Fed) in 3,50 %, had allowed the American markets to slow down their fall, without restoring however the optimism at the investors. The Dow Jones had lost 1,06 %, Nasdaq 2,04 % and the POSTAL AREA 500 1,11 %. The careful forecasts delivered for 2008 by Apple (11,95 % in 138,64 dollars), one of the values particularly appreciated by the investors, added to the gloom.
On Wednesday, the stock exchange of Toronto, main place(square) in Canada, was also in decline, the main indication having given up 2,5 % to the opening.
The European stock exchanges in the red
The European stock exchanges sank into the red, on Wednesday, January 23rd at the middle-day, on bottom of anxieties concerning the evolution of the rates in the United States and in Euro-zone.
The European places, having opened in increase, restarted decline after the comments of the president of the Central european bank ( BCE), Jean-Claude Trichet there, letting hear(understand) that he(it) would not follow the example of the American federal Reserve ( Fed) by lowering(dimming) his(its) interest rates.
The president of the BCE indeed indicated that he did not intend to deviate from his politics(policy) by underlining the importance of the "price stability" and by calling back(by reminding) the mandate of the BCE which is to fight against the inflation.
The decline of the star indication DAX of the Frankfurt Stock Exchange crossed(spent) a psychological mattering threshold by reaching(affecting) the 20 % since the beginning of the year, Wednesday in the afternoon. The DAX of thirty star values dived up to 6.384,40 points early in the afternoon, is a 20,86 % recession(drop) or of 1.682,96 points compared with the last closing price of 2007.
The quasi-totality of the European stock markets had nevertheless ended in increase on Tuesday, with the exception of Frankfurt which ended on a light 0,31 % recession(drop). But London progressed of 2,90 % and 2,07 % Paris. Zurich, Amsterdam, Madrid and Milan also finished the session widely in the green.
Istanbul closed down on Wednesday of 4,61 %.
The Latin American stock exchanges
In the trail of the European places, the stock exchange of Sao Paulo relapsed in the opening on Wednesday with a decline of 3,8 %. The indication Ibovespa became established in 53.952 points at 1:30 pm GMT on Wednesday against 59.097 in the fence(close) on Tuesday. At about 5:00 pm ( the hour French time ), Sao Paulo lost 2,49 %, in 54.320 points.
On Monday, the stock exchange of Sao Paulo had plunged of 6,6 % in front of the fear of an American recession, but had got back a good part(party) of its losses on Tuesday with an increase of 4,45 % after the decline of the intervention rate of the American central bank.
Mexico City also opened on Wednesday on a 2,14 % loss.
Financial centers in Asia
In Asia, the stock exchange of Hong-Kong ended on Wednesday on a spectacular bounce(recovery), the indication Hang Seng gaining(winning) 10,72 % at 24.090,17 points in the fence(close).
The stock exchange of Hong-Kong had tumbled of 8,65 % in 21.757,63 points on Tuesday, the investors being always haunted by the fear of a recession in the United States and possible fatal repercussions on all the Asian savings.
In front of these fears, the American federal Reserve decided as a matter of urgency on Tuesday to amputate its main intervention rate of 0,75 no percentage, in 3,50 %, by underlining the risks increased on the economic growth and the deterioration continues financial markets.
The monetary authorities of Hong-Kong announced on Wednesday that they also reduced their intervention rate of 0,75 no percentage, in 5,00 %.
The indication Nikkei de la Bourse de Tokyo ended the session of Wednesday in increase of 2,04 %. The indication Nikkei 225, the not balanced average of 225 star values, resumed(took back) 256,01 points (2,04 %) in 12.829,06 points, getting out of breath a little having won until 3,90 % early in the day. He(it) had melted of more than 9 % during previous both sessions.
The widened indication Topix of all the titles(securities) of the first picture(board) ended for its part on an earnings(gain) of 29,98 points (2,46 %) in 1.249,93 points.
Always in the fence(close), Seoul progressed of 1,21 %, 2,68 % Manilla and New Zealand 0,23 %.
Against the current besides of the region, the composite indication of Shanghaï gave up 0,58 % at the middle-session, and Taïpeh ended in strong 2,29 % fold.
In the middle of session, Jakarta progressed of 4,61 %, whereas Singapore came back carefully on neutral ground (0,03 %) from a starting up in brass band.
In Bombay, the indication Sensex opened in increase of 4,62 %.
The anxiety persists
But the anxiety persisted at the speaker's on the possible consequences of a major economic crisis in the United States, in spite of the statements(declarations) of the White House assuring(insuring) not to expect a recession.
The investors dread not only the distribution to the whole planet of a possible recession in the United States, but also a major crisis of the financial system, filled by the difficulties of the rehausseurs of credit, widely pointed since the beginning of the crisis.
Certain speakers are afraid of an embrittlement of these underestimated actors who are in charge of assuring(insuring) 2.400 billion dollars of obligations(bonds) in traffic(circulation) in the world. A reliable loss in the solidity of rehausseurs gets(touches) in the first one the insurers and the réassureurs, which can pull(entail) as dominoes the banking sectors and more widely financial.
The fear of the crash
YESTERDAY, the presidency of the European Union said itself worried in front of economic slowing down in the United States and in its potential impact on Europe, where stock exchanges strongly fell(flopped) during the day, the CAC 40(PARIS STOCK INDEX) losing about 6 %. All the European stock exchanges dived on Monday, the investors showing itself disappointed by the plan(shot) of relaunching(reflation) proposed on Friday by the American president and being afraid of the worst for the economy of the United States. Nevertheless George Bush had not skimped on the measures by mobilizing 145 billions, that is 1 % of the wealth produced in the United States. If we decided, in France, to make the same thing(matter), it would amount to a plan(shot) of 20 billion euro relaunching(reflation). But with a very classic strategy of decline of the taxes from which Bush waits for the theoretical creation of 500.000 jobs(uses), and a restart of the machine.
Because the American economy beats of the wing, and the anxieties rose of several degrees, these last weeks. So, the stakes in construction site of new housing collapsed of 50 % in six months. But this plan(shot) apparently disappointed, lived as a classic plan(shot) of relaunching(reflation) by the consumption more than as a solution of what appears as the main part, the financial risk the effect of domino of which risks to propagate a black scenario of recession. Because this crisis is similar to a "classic" phase of expansion of the credit beyond reasonable, comparable to the excesses of real-estate loans at the end of 1980s. Because the excessive debt, it is to the American dream. The face hidden from the optimism and from the risk-taking, which are the powerful engines of the state economy. The most deprived Americans are millions to frequent "Pay Day Loans", these workshops which - against a postdated check - advance(move) of the cash without asking of question.
The measures of the type of those of Bush or, in the same style, those of Sarkozy - reduce them of taxes - indeed have, to them only little efficiency on the situation because, globally, those who benefit from it do not increase strongly their consumption. Furthermore they empty the boxes(cash desks) of the State, preventing, as recognized him(it) Nicolas Sarkozy, to make concern the efforts the purchasing power, even the sectors which create jobs(uses), as the accommodation(housing), or the construction of modern infrastructures.
Because the American economy beats of the wing, and the anxieties rose of several degrees, these last weeks. So, the stakes in construction site of new housing collapsed of 50 % in six months. But this plan(shot) apparently disappointed, lived as a classic plan(shot) of relaunching(reflation) by the consumption more than as a solution of what appears as the main part, the financial risk the effect of domino of which risks to propagate a black scenario of recession. Because this crisis is similar to a "classic" phase of expansion of the credit beyond reasonable, comparable to the excesses of real-estate loans at the end of 1980s. Because the excessive debt, it is to the American dream. The face hidden from the optimism and from the risk-taking, which are the powerful engines of the state economy. The most deprived Americans are millions to frequent "Pay Day Loans", these workshops which - against a postdated check - advance(move) of the cash without asking of question.
The measures of the type of those of Bush or, in the same style, those of Sarkozy - reduce them of taxes - indeed have, to them only little efficiency on the situation because, globally, those who benefit from it do not increase strongly their consumption. Furthermore they empty the boxes(cash desks) of the State, preventing, as recognized him(it) Nicolas Sarkozy, to make concern the efforts the purchasing power, even the sectors which create jobs(uses), as the accommodation(housing), or the construction of modern infrastructures.
The European stock exchanges dive back into the red
A little bit before 2 pm, in Paris, the CAC 40(PARIS STOCK INDEX) moved back of 2,82 %, London lost 2,10 % and Frankfurt, 3,68 %. The president of the Central european bank, Jean-Claude Trichet, recognizes risks for the growth of the Euro-zone.
The European stock exchanges sank into the red, on Wednesday, January 23rd at the middle-day, on bottom of anxieties concerning the evolution of the rates in the United States and in Euro-zone.
The European places, having opened in increase, had restarted in decline after the comments of the president of the Central european bank ( BCE), Jean-Claude Trichet, letting hear(understand) that he(it) would not follow the example of the American federal Reserve ( Fed) by lowering(dimming) his(its) interest rates.
The president of the BCE indeed indicated that he did not intend to deviate from his politics(policy) by underlining the importance of the "price stability" and by calling back(by reminding) the mandate of the BCE which is to fight against the inflation.
Stock markets in the decline
The European places, having opened in increase, had restarted in decline after the comments of Jean-Claude Trichet. A little bit before 2 pm, CAC 40(PARIS STOCK INDEX) lost 2,82 % in 4.705,76 points. London lost 2,10 % and Frankfurt, 3,68 %. (> the prices(lessons) of the live stock exchanges(scholarships)).
The quasi-totality of the European stock markets had nevertheless ended in increase on Tuesday, with the exception of Frankfurt which ended on a light 0,31 % recession(drop). But London progressed of 2,90 % and 2,07 % Paris. Zurich, Amsterdam, Madrid and Milan also finished the session widely in the green.
Hong-Kong gains(wins) 10,72 %
In Asia, the stock exchange of Hong-Kong ended on Wednesday on a spectacular bounce(recovery), the indication Hang Seng gaining(winning) 10,72 % at 24.090,17 points in the fence(close).
The stock exchange of Hong-Kong had tumbled of 8,65 % in 21.757,63 points on Tuesday, the investors being always haunted by the fear of a recession in the United States and possible fatal repercussions on all the Asian savings.
In front of these fears, the American federal Reserve decided as a matter of urgency on Tuesday to amputate its main intervention rate of 0,75 no percentage, in 3,50 %, by underlining the risks increased on the economic growth and the deterioration continues financial markets.
The monetary authorities of Hong-Kong announced on Wednesday that they also reduced their intervention rate of 0,75 no percentage, in 5,00 %.
In Japan
The indication Nikkei de la Bourse de Tokyo ended the session of Wednesday in increase of 2,04 %. The indication Nikkei 225, the not balanced average of 225 star values, resumed(took back) 256,01 points (2,04 %) in 12.829,06 points, getting out of breath a little having won until 3,90 % early in the day. He(it) had melted of more than 9 % during previous both sessions.
The widened indication Topix of all the titles(securities) of the first picture(board) ended for its part on an earnings(gain) of 29,98 points (2,46 %) in 1.249,93 points.
Always in the fence(close), Seoul progressed of 1,21 %, 2,68 % Manilla and New Zealand 0,23 %.
Against the current besides of the region, the composite indication of Shanghaï gave up 0,58 % at the middle-session, and Taïpeh ended in strong 2,29 % fold.
In the middle of session, Jakarta progressed of 4,61 %, whereas Singapore came back carefully on neutral ground (0,03 %) from a starting up in brass band.
In Bombay, the indication Sensex opened in increase of 4,62 %.
Wall Street limits the damages
From his part, Wall Street limited the damages, on Tuesday evening. After a fall of 465 points in the beginning of session, the Dow Jones index of the New York Stock Exchange ended in decline of 128,11 points, that is 1,06 %, in 11.971,19 points. In the end(final), the Dow Jones index closed down of 1,06 %, 2,04 % Nasdaq and Standard widened indication and Of Poor 500 of 1,11 %.
The anxiety persists
But the anxiety persisted at the speaker's on the possible consequences of a major economic crisis in the United States, in spite of the statements(declarations) of the White House assuring(insuring) not to expect a recession.
The investors dread not only the distribution to the whole planet of a possible recession in the United States, but also a major crisis of the financial system, filled by the difficulties of the rehausseurs of credit, widely pointed since the beginning of the crisis.
Certain speakers are afraid of an embrittlement of these underestimated actors who are in charge of assuring(insuring) 2.400 billion dollars of obligations(bonds) in traffic(circulation) in the world. A reliable loss in the solidity of rehausseurs gets(touches) in the first one the insurers and the réassureurs, which can pull(entail) as dominoes the banking sectors and more widely financial.
The European stock exchanges sank into the red, on Wednesday, January 23rd at the middle-day, on bottom of anxieties concerning the evolution of the rates in the United States and in Euro-zone.
The European places, having opened in increase, had restarted in decline after the comments of the president of the Central european bank ( BCE), Jean-Claude Trichet, letting hear(understand) that he(it) would not follow the example of the American federal Reserve ( Fed) by lowering(dimming) his(its) interest rates.
The president of the BCE indeed indicated that he did not intend to deviate from his politics(policy) by underlining the importance of the "price stability" and by calling back(by reminding) the mandate of the BCE which is to fight against the inflation.
Stock markets in the decline
The European places, having opened in increase, had restarted in decline after the comments of Jean-Claude Trichet. A little bit before 2 pm, CAC 40(PARIS STOCK INDEX) lost 2,82 % in 4.705,76 points. London lost 2,10 % and Frankfurt, 3,68 %. (> the prices(lessons) of the live stock exchanges(scholarships)).
The quasi-totality of the European stock markets had nevertheless ended in increase on Tuesday, with the exception of Frankfurt which ended on a light 0,31 % recession(drop). But London progressed of 2,90 % and 2,07 % Paris. Zurich, Amsterdam, Madrid and Milan also finished the session widely in the green.
Hong-Kong gains(wins) 10,72 %
In Asia, the stock exchange of Hong-Kong ended on Wednesday on a spectacular bounce(recovery), the indication Hang Seng gaining(winning) 10,72 % at 24.090,17 points in the fence(close).
The stock exchange of Hong-Kong had tumbled of 8,65 % in 21.757,63 points on Tuesday, the investors being always haunted by the fear of a recession in the United States and possible fatal repercussions on all the Asian savings.
In front of these fears, the American federal Reserve decided as a matter of urgency on Tuesday to amputate its main intervention rate of 0,75 no percentage, in 3,50 %, by underlining the risks increased on the economic growth and the deterioration continues financial markets.
The monetary authorities of Hong-Kong announced on Wednesday that they also reduced their intervention rate of 0,75 no percentage, in 5,00 %.
In Japan
The indication Nikkei de la Bourse de Tokyo ended the session of Wednesday in increase of 2,04 %. The indication Nikkei 225, the not balanced average of 225 star values, resumed(took back) 256,01 points (2,04 %) in 12.829,06 points, getting out of breath a little having won until 3,90 % early in the day. He(it) had melted of more than 9 % during previous both sessions.
The widened indication Topix of all the titles(securities) of the first picture(board) ended for its part on an earnings(gain) of 29,98 points (2,46 %) in 1.249,93 points.
Always in the fence(close), Seoul progressed of 1,21 %, 2,68 % Manilla and New Zealand 0,23 %.
Against the current besides of the region, the composite indication of Shanghaï gave up 0,58 % at the middle-session, and Taïpeh ended in strong 2,29 % fold.
In the middle of session, Jakarta progressed of 4,61 %, whereas Singapore came back carefully on neutral ground (0,03 %) from a starting up in brass band.
In Bombay, the indication Sensex opened in increase of 4,62 %.
Wall Street limits the damages
From his part, Wall Street limited the damages, on Tuesday evening. After a fall of 465 points in the beginning of session, the Dow Jones index of the New York Stock Exchange ended in decline of 128,11 points, that is 1,06 %, in 11.971,19 points. In the end(final), the Dow Jones index closed down of 1,06 %, 2,04 % Nasdaq and Standard widened indication and Of Poor 500 of 1,11 %.
The anxiety persists
But the anxiety persisted at the speaker's on the possible consequences of a major economic crisis in the United States, in spite of the statements(declarations) of the White House assuring(insuring) not to expect a recession.
The investors dread not only the distribution to the whole planet of a possible recession in the United States, but also a major crisis of the financial system, filled by the difficulties of the rehausseurs of credit, widely pointed since the beginning of the crisis.
Certain speakers are afraid of an embrittlement of these underestimated actors who are in charge of assuring(insuring) 2.400 billion dollars of obligations(bonds) in traffic(circulation) in the world. A reliable loss in the solidity of rehausseurs gets(touches) in the first one the insurers and the réassureurs, which can pull(entail) as dominoes the banking sectors and more widely financial.
Poll(Sounding): Hillary Clinton outstrips(anticipates) Barack Obama
According to a poll(sounding) realized by the institute Field Poll, 39 % of the persons questioned assert that they will choose Hillary Clinton as candidate of the democratic Party as the presidential elections and 27 % post(show) their preference for Obama.
Hillary Clinton outstrips(anticipates) of 12 points his closest rival, Barack Obama, at the democrats susceptible to vote during the primary of California on February 5th, day of "Super Tuesday", according to the results(profits) of a poll(sounding) returned public Tuesday, January 22nd.
Thirty nine percent of people asked indicates that they will choose Hillary Clinton as candidate of the democratic Party as the presidential elections and 27 % post(show) their preference for Obama, senator of the Illinois, according to this inquiry, realized by the institute The Field Poll.
To the detriment of John Edwards
Since December, each of both favourites(whiskers) for the democratic nomination progressed by attracting(enticing) voters until then acquired to John Edwards, who seduces no more than 10 % of the pooled, as well as to the other small candidates.
Hillary Clinton outstrips(anticipates) of 12 points his closest rival, Barack Obama, at the democrats susceptible to vote during the primary of California on February 5th, day of "Super Tuesday", according to the results(profits) of a poll(sounding) returned public Tuesday, January 22nd.
Thirty nine percent of people asked indicates that they will choose Hillary Clinton as candidate of the democratic Party as the presidential elections and 27 % post(show) their preference for Obama, senator of the Illinois, according to this inquiry, realized by the institute The Field Poll.
To the detriment of John Edwards
Since December, each of both favourites(whiskers) for the democratic nomination progressed by attracting(enticing) voters until then acquired to John Edwards, who seduces no more than 10 % of the pooled, as well as to the other small candidates.
More turbulence on the world's financial markets
After Black Monday and Tuesday uncertain, the global bourses seem to resume on Wednesday after the decision by the US Fed to lower its key interest rate. La Bourse de Paris a ainsi ouvert en progression de 2,19%. The Paris Bourse has opened up 2.19%. Mais la déclaration de Jean-Claude Trichet sur les perspectives de croissance revues à la baisse dans la zone euro a de nouveau semé le trouble. But the statement by Jean-Claude Trichet on growth prospects revised downwards in the euro area has again thrown the trouble.
The Republican Fred Thompson withdraws from the running(race) in the nomination
The former(ancient) actor had registered(recorded) the disappointing scores in during the first ballots. He could bring his support for John McCain.
One of the candidates for the republican nomination for the American presidential elections, the actor Fred Thompson, announced, on Tuesday, January 22nd, his retreat(withdrawal) of the race for the White House, following a series of disappointing scores in the first caucuses and primary.
" Today, I remove my application(candidacy) at the post of president of the United States ", announced Thompson, the former(ancient) senator of the Tennessee, in a communiqué.
Rumours of support for McCain
65-year-old, Thompson, who was a senator from 1994 till 2002, is known in politics(policy) for its very preservative(conservative) opinions. According to the rumour, he could bring henceforth his support for the senator of Arizona John McCain, having been both colleagues to the Senate and the participant of the points of view so firm on the questions of national safety(security).
Thompson, which played in 18 full-length films, of which " In search of Red October ", and in television films, had last September finally decided to dash into the race for the White House, having "tested the ground" during several months.
One of the candidates for the republican nomination for the American presidential elections, the actor Fred Thompson, announced, on Tuesday, January 22nd, his retreat(withdrawal) of the race for the White House, following a series of disappointing scores in the first caucuses and primary.
" Today, I remove my application(candidacy) at the post of president of the United States ", announced Thompson, the former(ancient) senator of the Tennessee, in a communiqué.
Rumours of support for McCain
65-year-old, Thompson, who was a senator from 1994 till 2002, is known in politics(policy) for its very preservative(conservative) opinions. According to the rumour, he could bring henceforth his support for the senator of Arizona John McCain, having been both colleagues to the Senate and the participant of the points of view so firm on the questions of national safety(security).
Thompson, which played in 18 full-length films, of which " In search of Red October ", and in television films, had last September finally decided to dash into the race for the White House, having "tested the ground" during several months.
Tuesday, January 22, 2008
Baisse de 95% du bénéfice de Bank of America au 4e trimestre
Automatically translated text:
NEW YORK (Reuters) - Bank of America, la deuxième banque américaine, annonce un recul de 95% de son bénéfice trimestriel, conséquence de l'augmentation des pertes sur crédit et de la dégradation des résultats de ses activités de banque d'investissement. * BÉNÉFICE NET. Le groupe a réalisé au quatrième trimestre 2007 un bénéfice de 268 millions de dollars, soit cinq cents par action, contre 5,26 milliards (1,16 dollar/action) un an plus tôt. Les analystes tablaient en moyenne sur un bénéfice par action de 19 cents, selon Reuters Estimates. * PRODUIT NET BANCAIRE. Il a chuté de 29% à 13,32 milliards. * DÉPRÉCIATIONS. Les comptes trimestriels reflètent une perte de 5,44 milliards de dollars sur des opérations de trading, contre un bénéfice de 460 millions de dollars un an plus tôt. Cela prend en compte 5,28 milliards de dollars de dépréciations de produits liés à des créances et dérivés de crédit titrisés (collateralized debt obligations), ce qui a réduit de 4,5 milliards le bénéfice du trading et d'environ 750 millions de dollars d'autres soldes. Bank of America a aussi provisionné 1,74 milliard de dollars de pertes sur crédit, dont 1,33 milliard de réserves supplémentaires. La banque a précisé avoir fini l'année 2007 avec une exposition nette de 15,65 milliards de dollars à des CDO super senior, avant dépréciations. * DÉCLARATIONS. "Nous ne sommes certainement pas satisfaits de notre performance", déclare dans le communiqué de résultats le directeur général de Bank of America, Kenneth Lewis. "Nous sommes prudemment optimistes pour 2008, même si nous pensons que la croissance économique sera anémique au moins au premier semestre". * PRÉVISIONS. Lewis a déclaré tabler sur un BPA de plus de 4 dollars en 2008, en l'absence de turbulences des marchés d'une ampleur comparable à celles de 2007. Les consensus des analystes porte sur un BPA de 4,33 dollars pour 2008, selon Reuters Estimates. Le banque compte également dans un avenir proche faire appel aux marchés pour étayer son ratio de capital Tier-1, tombé à 6,87% à la fin 2007 contre 8,22% fin septembre. * BRANCHES. Le bénéfice de Bank of America dans la banque de détail et dans le crédit aux PME a reculé de 28% à 1,87 milliard de dollars. La banque d'investissement et corporate a elle enregistré une perte de 2,76 milliards de dollars, comparé à un bénéfice de 1,4 milliard un an plus tôt. Le bénéfice dans la gestion de fortune a lui reculé de 42% à 334 millions. * ACTIFS. La banque a terminé le trimestre avec 1.720 milliards de dollars d'actifs. * CONTEXTE. -Bank of America a annoncé le 15 janvier dernier qu'elle allait supprimer 650 emplois dans sa banque d'investissement et vendre son activité de services aux hedge funds (prime brokerage), sur fond de crise sur les marchés du crédit. -Bank of America est très exposée au marché américain et notamment à la crise de l'immobilier sur place. -Les résultats du quatrième trimestre sont les premiers à prendre en compte le rachat par Bank of America pour 21 milliards de dollars, en octobre dernier, de la banque LaSalle, filiale américaine d'ABN Amro. -Citigroup, JPMorgan et d'autres grandes banques américaines ont annoncé également des pertes trimestrielles liées à la crise du crédit. * COURS DE BOURSE. Le titre Bank of America gagnait 0,61% à 36,19 dollars vers 15h30 GMT sur le Nyse. L'action a perdu 33% en 2007, comparé à une baisse de 34% de l'indice Philadelphia KBW des valeurs bancaires.
NEW YORK (AP) - Bank of America, the second American bank, announced a 95% drop in its quarterly earnings, a result of increased credit losses and degradation of the results of its activities in investment banking.
* NET INCOME. The group has achieved in the fourth quarter of 2007 a profit of 268 million, or five cents per share, compared with 5.26 billion (1.16 dollars / share) a year earlier.
Tablaient Analysts on average earnings per share of 19 cents, according to Reuters Estimates.
* PRODUCT NET BANK. It fell from 29% to 13.32 billion.
* DÉPRÉCIATIONS. The quarterly accounts reflect a loss of 5.44 billion dollars on trading activities, compared with a profit of $ 460 million a year earlier. It takes into account 5.28 billion depreciation of products related to receivables and securitized credit derivatives (collateralized debt obligations), which reduced to $ 4.5 billion profit from trading and about $ 750 million Other balances.
Bank of America has also provisioned 1.74 billion dollars in credit losses, including 1.33 billion additional reserves.
The bank said to have ended the year 2007 with a net exposure of $ 15.65 billion in CDO super senior, before depreciation.
* STATEMENTS. "We are certainly not satisfied with our performance," said the announcement of the results general manager of Bank of America, Kenneth Lewis. "We are cautiously optimistic for 2008, although we believe that economic growth will be anemic at least in the first half."
* FORECASTS. Lewis said expect EPS of over $ 4 in 2008, in the absence of turbulence in the markets on a scale comparable to those of 2007.
The consensus analysts' concerns an EPS of $ 4.33 for 2008, according to Reuters Estimates.
The bank also intends in the near future to appeal to markets to support its capital ratio Tier-1, fell to 6.87% at the end of 2007 compared to 8.22% at the end of September.
* BRANCHES. Earnings for Bank of America in retail banking and credit to SMEs has fallen from 28% to 1.87 billion dollars.
The investment banking and corporate it has recorded a loss of 2.76 billion dollars, compared with a profit of 1.4 billion a year earlier.
Earnings in wealth management has declined by 42% to 334 million.
* ASSETS. The bank ended the quarter with 1,720 billion dollars of assets.
* CONTEXT.
- Bank of America announced last Jan. 15 that she would remove 650 jobs in its investment banking business and sell its services to hedge funds (prime brokerage), against a background of crisis in the credit markets.
- Bank of America is very exposed to the American market and in particular to the crisis of the real estate on the spot.
- Fourth quarter earnings were the first to take into account the acquisition by Bank of America for $ 21 billion in October, LaSalle Bank, American subsidiary of ABN Amro.
- Citigroup, JPMorgan and other major American banks have also announced quarterly losses related to the credit crunch.
* QUOTES. The title Bank of America gained 0.61% to $ 36.19 at 15:30 GMT on the NYSE. The action has lost 33% in 2007, compared with a decline of 34% of the index values Philadelphia KBW Bank.
NEW YORK (Reuters) - Bank of America, la deuxième banque américaine, annonce un recul de 95% de son bénéfice trimestriel, conséquence de l'augmentation des pertes sur crédit et de la dégradation des résultats de ses activités de banque d'investissement. * BÉNÉFICE NET. Le groupe a réalisé au quatrième trimestre 2007 un bénéfice de 268 millions de dollars, soit cinq cents par action, contre 5,26 milliards (1,16 dollar/action) un an plus tôt. Les analystes tablaient en moyenne sur un bénéfice par action de 19 cents, selon Reuters Estimates. * PRODUIT NET BANCAIRE. Il a chuté de 29% à 13,32 milliards. * DÉPRÉCIATIONS. Les comptes trimestriels reflètent une perte de 5,44 milliards de dollars sur des opérations de trading, contre un bénéfice de 460 millions de dollars un an plus tôt. Cela prend en compte 5,28 milliards de dollars de dépréciations de produits liés à des créances et dérivés de crédit titrisés (collateralized debt obligations), ce qui a réduit de 4,5 milliards le bénéfice du trading et d'environ 750 millions de dollars d'autres soldes. Bank of America a aussi provisionné 1,74 milliard de dollars de pertes sur crédit, dont 1,33 milliard de réserves supplémentaires. La banque a précisé avoir fini l'année 2007 avec une exposition nette de 15,65 milliards de dollars à des CDO super senior, avant dépréciations. * DÉCLARATIONS. "Nous ne sommes certainement pas satisfaits de notre performance", déclare dans le communiqué de résultats le directeur général de Bank of America, Kenneth Lewis. "Nous sommes prudemment optimistes pour 2008, même si nous pensons que la croissance économique sera anémique au moins au premier semestre". * PRÉVISIONS. Lewis a déclaré tabler sur un BPA de plus de 4 dollars en 2008, en l'absence de turbulences des marchés d'une ampleur comparable à celles de 2007. Les consensus des analystes porte sur un BPA de 4,33 dollars pour 2008, selon Reuters Estimates. Le banque compte également dans un avenir proche faire appel aux marchés pour étayer son ratio de capital Tier-1, tombé à 6,87% à la fin 2007 contre 8,22% fin septembre. * BRANCHES. Le bénéfice de Bank of America dans la banque de détail et dans le crédit aux PME a reculé de 28% à 1,87 milliard de dollars. La banque d'investissement et corporate a elle enregistré une perte de 2,76 milliards de dollars, comparé à un bénéfice de 1,4 milliard un an plus tôt. Le bénéfice dans la gestion de fortune a lui reculé de 42% à 334 millions. * ACTIFS. La banque a terminé le trimestre avec 1.720 milliards de dollars d'actifs. * CONTEXTE. -Bank of America a annoncé le 15 janvier dernier qu'elle allait supprimer 650 emplois dans sa banque d'investissement et vendre son activité de services aux hedge funds (prime brokerage), sur fond de crise sur les marchés du crédit. -Bank of America est très exposée au marché américain et notamment à la crise de l'immobilier sur place. -Les résultats du quatrième trimestre sont les premiers à prendre en compte le rachat par Bank of America pour 21 milliards de dollars, en octobre dernier, de la banque LaSalle, filiale américaine d'ABN Amro. -Citigroup, JPMorgan et d'autres grandes banques américaines ont annoncé également des pertes trimestrielles liées à la crise du crédit. * COURS DE BOURSE. Le titre Bank of America gagnait 0,61% à 36,19 dollars vers 15h30 GMT sur le Nyse. L'action a perdu 33% en 2007, comparé à une baisse de 34% de l'indice Philadelphia KBW des valeurs bancaires.
NEW YORK (AP) - Bank of America, the second American bank, announced a 95% drop in its quarterly earnings, a result of increased credit losses and degradation of the results of its activities in investment banking.
* NET INCOME. The group has achieved in the fourth quarter of 2007 a profit of 268 million, or five cents per share, compared with 5.26 billion (1.16 dollars / share) a year earlier.
Tablaient Analysts on average earnings per share of 19 cents, according to Reuters Estimates.
* PRODUCT NET BANK. It fell from 29% to 13.32 billion.
* DÉPRÉCIATIONS. The quarterly accounts reflect a loss of 5.44 billion dollars on trading activities, compared with a profit of $ 460 million a year earlier. It takes into account 5.28 billion depreciation of products related to receivables and securitized credit derivatives (collateralized debt obligations), which reduced to $ 4.5 billion profit from trading and about $ 750 million Other balances.
Bank of America has also provisioned 1.74 billion dollars in credit losses, including 1.33 billion additional reserves.
The bank said to have ended the year 2007 with a net exposure of $ 15.65 billion in CDO super senior, before depreciation.
* STATEMENTS. "We are certainly not satisfied with our performance," said the announcement of the results general manager of Bank of America, Kenneth Lewis. "We are cautiously optimistic for 2008, although we believe that economic growth will be anemic at least in the first half."
* FORECASTS. Lewis said expect EPS of over $ 4 in 2008, in the absence of turbulence in the markets on a scale comparable to those of 2007.
The consensus analysts' concerns an EPS of $ 4.33 for 2008, according to Reuters Estimates.
The bank also intends in the near future to appeal to markets to support its capital ratio Tier-1, fell to 6.87% at the end of 2007 compared to 8.22% at the end of September.
* BRANCHES. Earnings for Bank of America in retail banking and credit to SMEs has fallen from 28% to 1.87 billion dollars.
The investment banking and corporate it has recorded a loss of 2.76 billion dollars, compared with a profit of 1.4 billion a year earlier.
Earnings in wealth management has declined by 42% to 334 million.
* ASSETS. The bank ended the quarter with 1,720 billion dollars of assets.
* CONTEXT.
- Bank of America announced last Jan. 15 that she would remove 650 jobs in its investment banking business and sell its services to hedge funds (prime brokerage), against a background of crisis in the credit markets.
- Bank of America is very exposed to the American market and in particular to the crisis of the real estate on the spot.
- Fourth quarter earnings were the first to take into account the acquisition by Bank of America for $ 21 billion in October, LaSalle Bank, American subsidiary of ABN Amro.
- Citigroup, JPMorgan and other major American banks have also announced quarterly losses related to the credit crunch.
* QUOTES. The title Bank of America gained 0.61% to $ 36.19 at 15:30 GMT on the NYSE. The action has lost 33% in 2007, compared with a decline of 34% of the index values Philadelphia KBW Bank.
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