National, World, Business News

The Swedish truck manufacturer Volvo was reported Friday in a lower than expected earnings for the fourth quarter of 2011 and again expect a lackluster fiscal 2012, penalized by a dip in the European market.

From October to December, operating income of world number two sector stood at seven billion Swedish kronor (791 million) while analysts had forecast of 7.2 billion, according to Reuters.

The last quarter of 2010, Volvo had generated operating profit of five billion crowns. 

After enjoying the full recovery of demand in 2010 and during most of 2011, European manufacturers of heavy trucks must now deal with the crisis of sovereign debt in the euro area and fears of a slowdown in global economic activity.

"We maintain our assessment that the market 'Europe of 29' will be about 220,000 trucks in 2012. We anticipate a slow start to the year and a gradual improvement, "the group said in a statement

." We maintain our forecast of continued growth of the North American market at about 250,000 trucks in 2012, "he adds

…… The … backlog fell 7% in the fourth quarter, but the fall is more dramatic in Europe where it has shrunk 24%, overshadowing the 22% increase observed in America The Swedish North

. thinks that the truck market is now stabilizing, albeit at a low level, and should pick up gradually over the years. 

Volvo shows and more optimistic than its competitor Scania, who warned this week that it would reduce its workforce and the volume of some of its investments in anticipation of weak demand in the first half of 2012.

The title Volvo opened up 1.4% to 92.00 crowns.

According to the Uruguayan Minister, Louis Almagro, Nicolas Sarkozy was very upset to see that its proposed regulation, including tax havens, were not retained. Nicolas Sarkozy.

Luis Almagro, Uruguayan Minister of Foreign Affairs, said French President Nicolas Sarkozy was "very upset" with "the failure of the French strategy at the G20" and that he expressed in his statements on tax havens cause of a crisis with Uruguay.

"I think his statement (was dictated by) the bitterness and is linked with the failure of the French strategy at the G20", held in Cannes (south-eastern France) in early November, said M . Almagro in an interview published Thursday in the weekly Busqueda. "The four or five worn by strengths (Nicolas) Sarkozy at the G20 were rejected, as (the idea) to cap prices or on financial issues, etc..He used the G20 as a political platform, but it emerged weakened because the final statement did not address its program. I think it was upset and he has expressed in this unfortunate statement, "he added.

In early November, Nicolas Sarkozy said after the G20 summit that tax havens would be put "beyond the pale of the international community." He said that was part of the capital Montevideo which "did not have a legal framework for the exchange of tax information." These statements have angered Montevideo. The French government then explained that it was a statement on behalf of G20 and not of France and expressed its confidence in the willingness of Uruguay to fight tax evasion.

The rating agency Moody's warned Monday about the risks posed by the rise in yields on French government bonds on the rating of sovereign debt of France in a context of uncertainty on growth.

"The sustained high funding costs amplify the fiscal challenges facing the French government in a context of deteriorating growth prospects, with negative consequences on credit", written Kockerbeck Alexander, an analyst at the agency.

Moody's announced in mid-October that it would monitor and assess the stability of the perspective of the French Aaa rating within three months.

The Greek government expects a budget deficit reduced to 5.4% of GDP in 2012 assuming implementation of the proposed debt exchange expected to reduce the burden of public debt, according to the proposed final budget submitted Friday in parliament.

Excluding the impact of the debt swap (PSI), the project includes a deficit equivalent to 6.7% of gross domestic product next year after 9.0% this year.

The exchange of debt should lead to an issue of new bonds with a nominal value of EUR 70 billion and the payment to bondholders deprived of 30 billion euros in cash.

The parliamentary debate on the budget next week to begin by examining the text in committee, the plenary vote is scheduled for 8 or 9 December.

Coca-Cola, the world of soft drinks, will invest $ 2 billion (1.46 billion) in India by 2017 to develop its activities in this rapidly growing market.

This represents the total investment in India over the past 18 years by the U.S. company.

Coca-Cola India and its partners wish to invest in marketing and brand image, the extension of distribution networks and the development of production capacity, the company said in a statement.

Coca-Cola employs 25,000 people in India, whose growth is the second fastest in the developed economies, it added.

A source close to the government, China is considering investing 50 to $ 100 billion in the European Financial Stability Fund (EFSF). Nicolas Sarkozy and Hu Jintao in Beijing, April 28, 2010.

China is considering investing 100 billion dollars to help the euro area to combat the crisis of public debt, reported the Financial Times on its Web site Thursday, citing a government source. "China might be willing to contribute between 50 and 100 billion in the EFSF (European Financial Stability Fund) or to fund a new mounted under his leadership in collaboration with the IMF, according to a person familiar with the intentions of the Chinese leadership" , said the British newspaper.

"If conditions are suitable then something a little over $ 100 billion is not inconceivable," said the person at the Financial Times.

Mersen, ex-Carbone Lorraine, which confirmed its 2011 objectives, supported by strong solar activity, and Asia, said he was careful, however, for 2012 due to economic climate remains uncertain.

The specialist in graphite solutions and electrical components still expects a double-digit organic growth and operating margin above 12% of its turnover.

"The macroeconomic environment is what it is, that is to say today very uncertain, so there is little visibility (for 2012)," said Thomas Baumgartner, CFO, at a conference phone.

"The growth of Mersen was very strong across all areas (…) And we recorded very high billing in the sun ", he added, however.

The group reported Tuesday sales up 11.1% at constant exchange rates in the third quarter to 207.8 million euros, an increase of 14.1% in the first nine months of year to 627.1 million euros.

"Asia represents over 25% of consolidated turnover of the group, over 37% Europe and North America 32%, so we have a well balanced business," observed the Chief Financial Officer group.

Mersen began several years ago marked a profound change in its output segment of the automobile and its focus on solar, wind and emerging markets.

The stock closed Tuesday up 2.12% to 28.19 euros, giving a market cap of around 559 million euros. Since the beginning of the year, as yields 17.81% after rising by 35% in 2010.

The Irish budget deficit has reduced by 4 percentage points of GDP since 2009. Corporate profitability recovered sharply. But deleveraging too fast may influence the activity against becoming productive. Pedestrians in Dublin

If Ireland is still part of PIGS, it can not be in the same category as Greece or Portugal, as progress in a few months by former Tiger European are important. The Irish budget deficit – excluding bank recapitalization needs – fell by 4 percentage points of GDP since 2009. The current account deficit turned into a small surplus. Finally, corporate profitability recovered sharply.

The experts of the International Monetary Fund (IMF) of the European Central Bank (ECB) and European Commission, who have just completed their assessment mission in Ireland, are seduced. "The ongoing adjustment is solid.The 2011 budget targets will be achieved and the ongoing structural reforms will also contribute to sanitation, "they note in their report.

However, Ireland is now entering a delicate phase. Or the risk of too rapid deleveraging weigh on activity, against becoming productive. The experts of the IMF, the ECB and the Commission to admit the hint. "Ireland will have to find a balance between the imperatives of debt reduction and limitation of the barriers to growth and job creation," they point out in their report. This sentence harmless and a bit blurry could announce a change in strategy for Ireland. The country needs it, says a recent report by Goodbody Broker.

Make concessions

Indeed, in Ireland, over-indebtedness affects both the public sector, private sector and banks.Simultaneously reducing the three is clearly a bad idea, says the report. If Ireland is determined to meet all objectives at the same time, the evolving recovery will be quickly suppressed. A risk highlighted recently by the Finance Minister Michael Noonan. Especially since the motor only turns in exports. The domestic market remains depressed by lower prices (unit labor costs fell by 15% and commercial property prices have been divided by two).

We must therefore make concessions to one side. But which one? As for households, the government can not do much. The debt reached 220% of disposable income, nearly twice the international average. And fall of financial markets could reduce household net wealth of 250 billion euros. The Irish are going to have to tighten their belts for several years.Make concessions on the public debt is also not in a financial crisis. Ireland recorded a primary deficit of 6% of GDP in 2011. This is the worst result of the euro area.

Remaining banks. They must bring their ratios to 122% loan to deposit by 2013. The challenge today is to allow banks to achieve that clean without excessively penalizing the credit. This will doubtless involve additional time but also further aid from the ECB, economists now believe. Lengthy discussion in perspective.

After the improvement of labor market frameworks in 2011, the coming months are more uncertain, according to APEC. Companies are less likely to plan to recruit executives in the fourth quarter. The barometer of APEC are signs of loss of business confidence.

2011 promises to be a good year for executives with a job market that has "resilient" but uncertainties in 2012, with gloomy economic outlook, according to the quarterly barometer of the Association for the use of frameworks (APEC) on Wednesday. "The year 2011 will be a very good year. It is the certainty, it is behind us, as business investment have been supported," said the executive director of APEC Jacky Chatelain, at a conference the press.

"But at the end of this year there are also elements of uncertainty," he said.Thus, if a significant number of companies plan to hire at least a part in the 4th quarter, a smaller proportion than in the third quarter are in fact some of it. 53% of companies with more than 100 employees plan to recruit at least one frame between October and December, an increase of 4 percentage points year on year. But only 69% of these are certain to do so – against 75% last quarter.

In the third quarter, employment remained strong: 57% of companies with more than one hundred employees, or 3 points from the third quarter of 2010, recruited at least one frame. The job assigned to the Apec also increased by 59% over one year in the third quarter. Nearly 140,000 bids were entrusted to the association. "The engine of growth" was the area of ​​the Council and business services: 100% in the third quarter of 2011, against 73% over the same period of 2010).But since then, signs of loss of business confidence have emerged: in September 21% of companies felt that the economic situation had deteriorated over the past year, against 16% in June

Graduates most affected by this pessimism

This loss of confidence seems to work against graduates, for whom the "hiring intentions are down for the first time in two years," said Pierre Lamblin Director of Education and Research APEC.

In a context "uncertain", companies are looking more frames already trained more operational: 41% of companies planning to hire in Q4 target young graduates, a decline of six points in one year, according to the survey, result of telephone inquiries conducted by the company in September Gn operations, with a panel of 750 firms with over 100 employees, representing the private sector."This is not not a disaster," the proportion was only 22% in late 2008, said Mr. Lamblin. "But the question is: will it last and how long?".

While according to the INSEE, the overall unemployment rate in France could reach 9.2% of the workforce in the fourth quarter, the executive is now much lower, around 3.7 or 3.8%. But the conditions of re-employment of executives have deteriorated from the end of 2008 and the long-term unemployment has increased frames. Today, a third of managers are unemployed for more than 12 months.

The very slight decrease (-0.1%) the number of job seekers with no activity was offset by higher (0.5%) of the total number of people seeking work, including those engaged in a reduced . Agency employment center in Nice

The number of job seekers without work (Category A) in France has declined slightly in August from 0.1% after three months of increases, to 2.754 million people, according to figures released Monday by the Ministry of work. However, the total number of people seeking work, including those engaged in a reduced (categories A, B and C), has again increased in August by 0.5% the previous month to 4.148 million in people.This number is up 4.3% year on year.

After four months of reflux from January to April, unemployment has gone the way of rising from May to July along with the slowdown in growth (which was nil in Q2). In total, since the beginning of the year, the number of job seekers without work rose 29,000 people. The increase over one year (from August 2010) is 2.3%. It is 4.3% over the year including applicants who have worked reduced.

By age, the situation improved slightly for young people but deteriorates again for seniors.The number of job seekers in all categories, under 25 years decreased by 0.4% in August on a month (-1.3% yoy), while that of job seekers over 50 years increased by 1.2% (+14.6% yoy). The long-term unemployment also continues to grow: the number of registered unemployed for over a year has increased 0.6% from July and 8.7% year on year. The average length of job seekers registered in categories A, B, C, end of August 2011 is 455 days.

Unemployment remains at 9.3% at end 2011

A month, entries for the end of fixed term contracts (-0.2%), redundancy (-5.5%), first entries (-6.4%), times of activity (-3.6 %) and other cases (-4.8%) declined. Entries for other layoffs are stable. Those for the purpose of temporary assignment (5.2%) and resignations (+1.2%) have increased Revenge.The outputs for employment times reported (-4.6%), came into training (-14.7%), research stops (-5.2%), radiation administration (-11.1%) and other cases (-8.1%) declined. Radiation for failure discount for their part, rose by 6.1%. In total, the number of entries is higher than output.

The government is committed to increasing the unemployment rate below 9% by the end of the year. Unemployment insurance for its part considers that rising unemployment will continue this year and 2012. According Unedic, the number of job seekers without work is expected to increase again this year to 36,700 and 55,500 in 2012. In all, the end of 2012, 2.8 million people and 4.4 million inactive with reduced activity would be included on the lists of employment center.

A study released today by Coe-Rexecode is hardly more optimistic.According to the Institute of conditions close to the business, the GDP should grow lights this year by 1.7% and 1.2% next year. The French economy would create 195,000 jobs in 2011 and 115,000 in 2012. The level of unemployment, however, remain high at 9.3% and 9.1% end 2011 end 2012.