The French engineering group Egis was selected Monday to modernize one of the main Brazilian airports, as part of concessions for a total of 24.5 billion reais (10, 9 billion euros) granted for the 2014 World Cup and 2016 Olympics.
Conversely, the candidacy of another French group in the running, Aéroports de Paris (ADP), has not been selected, said a spokesman for ADP. ADP filed a joint bid with Schipol Airport (Amsterdam) and two Brazilian partners, she said.
Contracts, for which 11 consortia have submitted bids well above the floor set by the government, focused on the expansion and terminal management at two airports in Sao Paulo and one in Brasilia.
While Brazil is organizing two major sporting events, this upgrade should improve infrastructure and uncomfortable sources of delays.
The concessions were awarded in each case of large Brazilian companies allied to the international airport groups.
Egis Airport Operation, a subsidiary of Egis which is 75% owned by the Deposit and Consignment Office, joined forces with the Brazilian group Triunfo Participaçoes to be awarded the expansion of the airport of Viracopos-Campinas, near Sao Paulo. The consortium will pay 3.8 billion reais (1.7 billion euros) for this contract.
For their part, Brazilian groups Invepar and OAS, in partnership with the South African ACSA, won to 16.2 billion reais (7.2 billion euros) for the concession ; modernize the airport of Guarulhos, in Sao Paulo, the most active and most lucrative of the three sites.
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.Orders to U.S. industry rose for the second consecutive month in December, driven by increased business investment.
According to figures released Friday by the Commerce Department, orders for manufactured goods rose 1.1% in December.
Market economists polled by Reuters had expected, however, an average increase of 1.5%.
The November figure was however revised upwards and shows an increase of 2.2% instead of 1.8% initially announced.
Over the full year 2011, industrial orders rose 12.1%, against an increase of 12.9% in 2010.
Excluding transportation, orders rose 0.6% in December after rising 0.5% (revised) in the previous month.
Orders for nondefense capital goods and aircraft, considered a barometer of morale of entrepreneurs and their investment plans, surged 3.1% after falling 1.5% in November.
LVMH has published Thursday the results up sharply, signing new record, reflecting once again the resilience of the luxury sector facing the economic downturn.
The world of luxury, owner of Louis Vuitton, Moet et Chandon champagne and Christian Dior perfumes, saw its sales grow by 16% to 23.66 billion euros, exceeding slightly forecasts (consensus Thomson Reuters I / B / E / S of 23.3 billion) and operating income reached 5.26 billion euros (5.1 billion against expected ), signing up 22%.
The group's organic growth stood at 14% throughout the year and 12% in the fourth quarter alone.
As usual, LVMH does not give any indication about its outlook for 2012, indicating just have the "best assets to pursue an aggressive growth", as many analysts have revised down their pre visions of organic growth of industry leaders.
The annual net income reached 3.06 billion euros (3.07 billion consensus), up 1%, and the proposed dividend will be 2.60 euros (against 2.1 euros in 2010) up 24%.
After the Swiss Richemont (Cartier, Van Cleef & Arpels) and Britain's Burberry, LVMH confirms the strength of luxury to the crisis, on the strength of demand in the e Mergent and very important tourist flows in Europe.
The title LVMH closed Thursday at 126.40 euros at the Paris Stock Exchange, advancing and 15.5% since early January, after falling 11.13% in 2011.
Perceived by analysts as the value most defensive sector, largely due to the brand Louis Vuitton, she exchanged with valuation multiples of about 17 times the beneficial ; profits estimated for 2012, representing a premium of approximately 15% of the industry average off Hermes.
European markets opened up after the appointment of Mario Monti to form the new Italian government and the cabinet formation Papademos in Greece, which offers fresh hope for a gradual improvement on the forehead of the debt crisis in the area euro.
The government of technocrats being developed in Rome and the national unity cabinet was sworn in Athens are expected to regain some confidence to investors.
"The fact that Italy and Greece have avoided the political vacuum is a good thing. The question is whether the governments of national unity will work", says Katsunori Kitakura of Chuo Mitsui Trust Bank in Tokyo.
The Eurostoxx 50 0.63% progressed to twenty minutes after the start of trade.In Paris the CAC 40 gained 0.58% to 3167.52 points while the Milan stock exchange rebounded 2.1%.
Among banking stocks exposed to Italy and Greece, Credit Agricole, BNP Paribas and Societe Generale rose 2.25%, respectively, 3.66% and 2.12%. UniCredit took 4.42%.
Caution should however be in order before the first real test that will, in the morning, the award of three billion euros of five-year bonds by the Italian Treasury.
China must wait for Europe proposes a plan to end the crisis of sovereign debt feasible prior to contribute, said Friday an adviser to the People's Bank of China (COPD) but stressed that Beijing should have " some controls "on the use of funds provided.
China will study with other emerging countries, namely Brazil, Russia, India and South Africa possible initiatives to help Europe overcome the crisis of sovereign debt, said Li Daokui , a member of the Monetary Policy Committee of the Chinese central bank, speaking at a conference in Beijing.
"If we make money (the Europeans), we need some controls. We can not say we give you the money you spend as you wish.It's not fair that you keep a lavish lifestyle, "said Li told reporters.
The European Union is the largest trading partner of China and Li provides a limited contraction of the Chinese trade surplus this year to 150-160 billion yuan.
"For Europe, we can not just watch what happens and do not help," he added.
Li Daokui said that the figure of $ 100 billion to buy European sovereign debt and the media have given it was only a "theoretical figure."
Li warned that the growth of China's GDP to slow to 8.5% in 2012 from 9.2% expected in 2012, adding that China should maintain its current economic policy throughout the next year.
Greek banks erase their losses Thursday morning as investors bet on a drop of the referendum on the bailout of the country in case of fall of the government.
Banks, who lost up to 5% at the opening, gaining nearly 2% to 10:20.
"Given the developments of the last hours, the possibility of a referendum was removed and the top priority is now the sixth tranche disbursement of aid and approval" of the rescue plan EU says Natasha Roumantzi, an analyst at Piraeus Securities.
George Papandreou Thursday called an emergency meeting of his cabinet at 11:00. The head of government is under fire from critics since he announced Monday night to hold a referendum.
Live: a few hours after the Brussels summit that gave birth to decisions on the rescue of the euro area, L'Expansion. Com offers live to follow the reactions in France and worldwide. Markets, for now, enjoy. The President of the European Commission Jose Manuel Barroso, Portuguese Prime Minister Jose Socrates, the President of the Républilque Nicolas Sarkozy, German Chancellor Angela Merkel, the Lithuanian President Dalia Grybauskaite and Finnish Prime Minister Mari Kiviniemi, at Brussels, 28 in October 2010.
Europe was finally granted for an answer to the crisis in its currency. Among the main decisions taken by EU leaders, the discount of 50% of Greek debt held by private creditors. This represents a total deletion of 100 billion euros of Greek debt, currently at 350 billion euros.
To allow banks to bear these losses, a recapitalization plan of 106 billion euros will be established, which will allow European banks to achieve a capital ratio of 9%.
Finally, the most discussed point dernères this week: capacity to 1,000 billion euros from the European Financial Stability Fund (EFSF). Two mechanisms will be put in place to achieve this amount. The first is a system of guarantees provided by the fund on the bonds of fragile countries (Greece, Italy, Spain …) purchased by investors, which will restore confidence.
The second, which will host a special fund investments from foreign countries, including China, Brazil or Russia. This fund should be "in close cooperation with the IMF," the text.Here are the reactions to the EU summit.
9:51: China welcomes the "European Consensus" should "support market confidence" and breathe "new vitality" to European integration as a spokesman for the Chinese Ministry of Foreign Affairs. Beijing should be involved in the rescue of the euro via the mechanism of strengthening the EFSF. China already holds $ 500 billion European bond analysts said. It has 3200 billion in foreign reserves. Russia – which could also help Europe – show for its "cautious optimism"
9:49: The British Finance Minister George Osborne welcomed the "very good progress" in the euro area, on the airwaves of BBC Radio. He now asks that the European leaders set out the "details".Britain was illustrated last week by demanding to be further consulted on decisions affecting the euro area.
9:31: Daniel Cohn-Bendit called the agreement a "small step". He finds that the eurozone is the book "bound hand and foot to emerging countries" and especially to China. "You can not discuss a protection against social and environmental globalization and ask those with whom you negotiate this coverage to pay for your crisis". It is "a bad solution, politically dangerous," said co-chair of the Greens in the European Parliament.
9:26: BNP Paribas ensures it will be able to reach the minimum capital ratio "hard" of 9% set by the European regulator at the end of June without raising funds on markets
9:15: The World Bank President Robert Zoellick speaks "a milestone" that will "save time"."I hope that this important first step will lead to a broader approach to help the world economy to resume growth," said the president of the World Bank.
9:00: European stocks up sharply
Paris opens up sharply from 2.43% to 3246 points and takes more than 4% in early trade. The Dax gained 3.43%, 1.72% London, Milan 2.7%, 3% and Madrid. The Athens Stock Exchange is 4.9% Bank stocks soar despite the need to give up 50% of their claims on Greece. Societe Generale climbed 13.5%, 12.8% of Credit Agricole and BNP Paribas of 12.7%. In Germany, Deutsche Bank and Commerzbank takes nearly 9% to 7%."These measures could mark convincing the prelude to a rebound in banking stocks in particular French and overly abused since August 2011," strategists believe Credit Mutuel-CIC in a note.
8:27: The agreement reached in the night saved the single currency, according to Economy Minister Baroin interviewed on RTL. "The agreement is a response that night ambitious, comprehensive and credible," said the minister. "That's what will solve the case, that's what we come out of the turbulence, that is what will the economic rebound, that's what will stabilize the euro area and global growth", at he said.
8:19: Alain Minc, an economist and close to Nicolas Sarkozy said on Canal + in Brussels that the agreement "should calm the markets." Moreover, the Economist sent a picnic to the Prime Minister of the second country that threatens to pitch after Greece and Italy."The day falls Berlusconi – which will eventually happen – there is no problem because Italian is a wildly emotional issue and therefore how we set up even appear to be very important," he analyzed the specialist.
8:18: The Tokyo Stock Exchange ended sharply higher than 2%. Investors welcomed the Europe Agreement against the debt crisis in the eurozone.
8:00: The euro briefly reached $ 1.40 after the summit. This is the first time since Sept. 7 that the European currency reaches that level. The euro also rose to make the Japanese currency.
8:00: Daniel Cohn-Bendit calls for "a federation of the United States of Europe" in an interview with Liberation."Today is the economic war, it is the markets, as immoral war is immoral, we impose that choice: give up and go, or move up a gear towards the federalization," says co-chair of the Greens in the European Parliament.
The French parliament on Tuesday approved the draft supplementary budget that allows the state to provide guarantees to the restructuring of the Franco-Belgian bank Dexia to facilitate its dismantling.
After the deputies, senators adopted the text finalized last week by a joint committee (WPC) Assembly-Senate.
All groups voted the outcome of the CMP with the exception, both the Assembly and the Senate, communists and the like.
The text of the CMP includes part of the version passed by the Senate, where the left is now the majority.It thus imposes counterparties to support banks.
Credit institutions supported public will not pay bonuses or stock options to their executives and dividends only in securities and not cash to shareholders, these restrictions on 1 January 2012.
The decommissioning plan provides that Dexia France, Belgium and Luxembourg will provide 90 billion euros in guarantees for its financing needs with 60.5% for Belgium, 36.5% for France and 3% for Luxembourg.
During the first reading in the Assembly all voted against the left.The same text, as amended by the Senate Finance Committee where the left is now the majority, was then voted almost unanimously by the upper house.
The chairman of the PS Assembly, Jean-Marc Ayrault, asked Tuesday the creation of a parliamentary commission of inquiry on "the adventures of Dexia and its leaders."
BSkyB reported Wednesday a net increase in quarterly profit, sales of additional products to existing customers offsetting the expected decline in new subscriptions.
The FTD British satellite television was the target of a takeover by News Corp., its largest shareholder, until the abortion offensive in July, following the eavesdropping scandal News of the World.
Operating income adjusted for the fiscal first quarter came out better than expected, up from 16% to 295 million pounds (336 million).
Turnover increased by 9% to 1.66 billion pounds, suggesting that the new strategy group, which consists primarily of selling new products to existing customers, seems to be working.
"In difficult market conditions, our movement towards a more broadly based growth and product variety makes us good service," said CEO Jeremy Darroch said in a statement.
The market expected a slowdown in new subscriptions, rising unemployment and inflation in Britain affecting household spending.
During the period from July to September, 26,000 new subscribers joined BSkyB, slightly less than expected by the market and far from the 96,000 new subscribers registered in the same period last year.
"This is not an environment where you can add many new customers through improvements offers TV, but that does not mean that society can not grow and increase its profitability and cash," said Paul Richards, Numis analyst.
By 0800 GMT, the action BSkyB gained 3.26%, while the European sector index media progressed from 0.55%.
According to a report published Wednesday, parallel trade in cigarettes leads to a shortfall of 2.7 billion euros a year for public finances. About 50% of that traffic comes from cross-border shopping. About 30% of parallel trade in contraband cigarettes comes from the
Parallel trade in cigarettes poisons public finances. Less than a month after the plan to fight against this phenomenon announced by Valérie Pécresse, three MPs filed Wednesday in the Finance Committee of the National Assembly, a report detailed information on "the tax consequences of illicit sales of tobacco. " And the result makes you cough. Details.
A loss of 2.7 billion euros in state
The shortfall in the accounts of the state is estimated at 2.7 billion euros each year.The report states that 20% of sales of tobacco are outside the formal network, made up of 28,000 tobacconists state-controlled. The deputies focused their attention on two types of trade: sales outside formal network but legal (cross-border shopping, duty free …), and the illegal (smuggling, counterfeiting, Internet purchases, etc.).. The first 15% of total cigarette sales, the other 5%. Untaxed, these two forms of traffic respectively deprive France of nearly 2 billion euros in tax revenues for one and 800 million for the other.
The exception rolling tobacco
The report also draws attention to the more favorable taxation of rolling tobacco. This product is a substitute for cigarettes when their prices rise.The consumption of rolling tobacco is in fact the only increase (9% between 2004 and 2010) and continues to pull up the turnover of manufacturers (16.6 billion euros in 2010, + 27% since 2000).
And also the tax side, the economic consequences are "devastating" the report said. No fewer than 5,000 tobacconists have closed since 2002 in France. The border departments undergo the phenomenon of head-on, sales were down 52% in volume from 2002 to 2010. By way of explanation, the report points including "differences in prices and taxes" in Europe. In the Hexagon, cigarettes cost between 60 cents and 3.30 euros more than in all neighboring countries. And it's not over: 17 October, the prices of packages will grow by 6%. Even if it does not explain everything, the total tax applied to tobacco products is one of the main causes.In France, it is one of the most aggressive in Europe, representing over 80% of the original price.
Cross-border cigarette smuggling accounts for 50% of parallel trade
This environment encourages such cross-border purchases, depressing the French tobacconists. Such traffic is 50% of informal trade of cigarettes, according to professionals. "These purchases are legal. The French government authorizes, for now, consumers to return five packets of foreign countries. But they are expensive to the state. And we must not delude ourselves. Many do not meet the threshold legal, "says the rapporteur Thierry Lazaro, UMP deputy from the North.
To stop it, Members recommend to first "convergence of prices of tobacco with the neighboring states," including by simplifying tax, but also by setting the initial prices in consultation with the countries concerned.The report also urges governments to implement the price increases coming in a measured and steady in the Cancer Plan 2009-2013. The idea is to avoid sharp rises and irregular.
Finally, against the advice of the Government, Members reiterated the importance of maintaining the limit of purchases of cigarettes abroad in five packages. The European Commission recently sued France to the European Court of Justice to prevent the free movement of goods. It calls for the removal of the threshold of five packets. If France and sentenced, the threshold will be deleted, or it will be fined. "Tobacco is not a commodity like any other. It is harmful and addictive. We must insist and keep this limit. Regardless of the European Commission", insists the rapporteur Jean-Marie Binetruy, UMP Doubs.
Haro on smuggling and the danger of counterfeiting
Smuggling (30%) and Internet purchases (20%), a process banned in France, representing nearly all the rest of the parallel trade. Vendors buy illegal cigarettes at low cost abroad, then sell them in France, in the street or on the Internet for example. The report is also concerned about the increasing number of cigarettes made by manufacturers in countries neighboring the EU that do not meet its standards, but also end on the French market. "Smuggling is dangerous for the economy but also for health. There are many counterfeit, especially from Eastern Europe. These cigarettes often contain anything," warned Thierry Lazaro.
The report calls for the launch of an information campaign about the dangers of counterfeiting, backed by the government and tobacconists.Should then increase the traceability of packets to trace the supply chains and where cigarettes are manufactured. MEPs recommend, finally, hardening and improving the judicial arsenal, for the training of magistrates instructions and rulings, as well as the ability to give justice to disable a suspect website time to investigation.