National, World, Business News

The Tokyo Stock Exchange ended Friday in a piecemeal, according to a new low of two and a half years in session for the Nikkei, while France and Germany have not reached the day before to convince investors of the imminence of a consensus on the answer to the debt crisis.

The Nikkei lost 0.06% (-5.17 points) at 8,160.01 points, while the Topix, broader took 0.52 points (+0.07%) to 706.60 points.

For the week, the two indexes have lost respectively 2.6% and 1.9%.

At the conclusion of a tripartite meeting in Strasbourg between the Italian Prime Minister Mario Monti, the French president Nicolas Sarkozy and German Chancellor Angela Merkel, the latter reiterated his opposition to any change in the mandate of the European Central Bank (ECB ) and the introduction of Eurobonds.

"Some investors bought oversold values ​​in the afternoon (Japan), but concerns about the situation in Europe remains" Judge Kenichi Hirano, Tachibana Securities.

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.

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.

The German government has reduced by almost half its growth forecast for 2012, confirming fears of a sharp slowdown in Europe's largest economy due in part to the crisis in the euro area.

Berlin expects growth of 1.0% in 2012 and not more than 1.8%. For 2011, the government now plans to grow by 2.9% instead of 3.0%.

"The pace of expansion slowed, as expected," said Economy Minister Philipp Rösler, but added: "Our economy remains on a growth trajectory."

An environment less favorable for export explains in particular the slowdown in growth, the ministry said.

"Domestic demand will become even more the mainstay of economic growth in Germany," he observes."Growth as a whole is that it will almost this year and next."

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.

European shares opened sharply lower Tuesday, financial and cyclical stocks in the lead, continuing a decline the last two sessions in markets still dominated by fear of failure Greek and a return to recession.

Following a meeting of finance minister in the euro area, the President of the Eurogroup Jean-Claude Juncker said that the private sector into the background of aid to Greece should be reviewed to reflect of the degradation of the economy and European markets.

At 9:38, the CAC 40 was down 2.51% to 2853.30 points and a loss of over 6% since last Thursday.

"It is clear that these concerns about Europe are not going away anytime soon, as long as markets remain dominated by this fear, the downward pressure should continue to prevail. The meetings of European finance ministers who stand in Luxembourg have already lead to a series of statements that move the markets – again primarily to the decline, "said IG Markets.

Other major European markets, London yields 1.95%, 2.57% Frankfurt and Milan 2%.The pan-European Euro Stoxx 50 index lost 2.5%.

The banking sector is still one of the largest declines, dragged down by Dexia, which collapsed after holding an emergency board on back of speculation of dismantling the group.

In this context of anxiety and risk aversion, the performance of the German government bond (Bund) is relaxed to 10 years again, to 1.72%, 1.81% against the previous day.

The euro continued to decline and is trading at 1.3174 / 78 dollars, against 1.3181 the day before the end of the session.

Similarly, a barrel of U.S. light crude lost another $ 1.31 to 76.30 dollars amid concerns about global growth.

Nokia, faced with declining sales and profits, announced Thursday the elimination of 3,500 positions, including the upcoming closure of its plant in Cluj, Romania.

The closure of the Cluj result in the layoff of 2,200 persons.Nokia also plans to eliminate 1,300 positions in its other division Rental & Commerce, which includes the world leader in digital mapping Navteq.

These staff reductions are in addition to a program unveiled by the group in April to achieve 1 billion euros in savings, and including the removal of 4,000 jobs.

The world's largest maker of mobile phones by volume is facing a decline in sales and earnings after announcing in February that now employ the operating system from Microsoft for its smartphones.The first of them well equipped arrive on the market later this year.

The action Nokia has lost half its value since February, investors feared that the group would lose much market share until the launch of its new smartphones and no longer able to fully regain thereafter.

Around 9:10 GMT, the action to Nokia gained 0.96% 4.22 euros, while the European sector index electronics progressed from 0.17%.

Nokia also announced it would inject with Siemens € 500 million in their joint venture Nokia Siemens Networks, headed by Jesper Ovesen would succeed Olli-Pekka Kallasvuo, former CEO of Nokia.

Senior European financial ministers urged to strengthen bank capital, preventing a "systemic crisis" sovereign debt affects banks and raises the specter of a new credit crisis.

In documents prepared by those responsible for the Ecofin meeting of September 16 and 17, that Reuters was able to consult, it is referred to a "risk of a vicious circle between sovereign debt, the financing banks and the negative growth ", which can cause a credit freeze.

"While the tensions in the market for sovereign debt have intensified and the risk of bank loans increased during the summer, the contagion has spread in the markets and countries and the crisis became systemic."

These documents, where the risks are highlighted with terms unusually energetic and very critical of some countries for not helping the weak banks, illustrate the degree of anxiety that gripped the European capitals about the financial crisis.

In the text, prepared by the influential Economic and Financial Committee to prepare the program changed the discussions between finance ministers of the European Union, is a vigorous appeal to the recapitalization of banks weakened, particularly those countries exposed to difficulty.

NEW CREDIT CRISIS

The paper shows including highly critical of some countries such as Spain, accused of not acting aggressively enough to strengthen its banks after the poor performance on tests of strength.

What is at stake, writing committee members, a new credit crisis.

In an article dated September 13, states that "spillover effects" could "feed a dangerous downward spiral between the financial sector and real sectors of the economy or financial problems (…) the (…) risk aversion could lead to a deleveraging of banks, a phenomenon that in turn would result in some Member States, a credit crunch. "

Considering that the budget crisis "is entering a new phase", the paper highlights the difficulty of banks to borrow.

"Despite the considerable strengthening of positions in equity compared to their levels of 2008-2009, European banks have recently been facing financial difficulties, resulting among other tensions in the market for liquidity, high spreads on the market secondary, and some European banks, increasing difficulties in accessing finance from their U.S. counterparts, "reads yet.

To counteract the loss of confidence in European banks, officials of the committee stressed that "further strengthening of bank resources is commendable."

"This is important for banks that have not passed the tests of resistance, but also to those who were successful but with capital levels near the threshold required," the report said.

European banking stocks were again down sharply Monday on the stock market due to lingering concerns of investors about the financial health of banks exposed to the crisis of sovereign debt in the euro area.

Around 9:50, the European banking index gave up 3.03%.

"This is the euro area is still Greece.We tend to underestimate the problem, "said one Paris-based financial analyst who requested anonymity.

"Clearly, I think of Greece, the banks will have to make additional provisions, especially after the statements of recent days as what the trajectory of debt (Greek note) was uncontrollable."

The analyst also noted that U.S. money managers have reduced their investments in European banks.

"Structurally U.S. banks will lend less to European banks as the crisis lasts," said he. "European banks will have to go looking for funding sources for other areas."

Among the largest declines, the German bank Deutsche Bank falling 6.74% to 24.25 euros.In Paris, Societe Generale was down 4.62% to 21.14 euros and BNP Paribas 4.14% to 32.0350 euros.

The action suffers from Deutsche Bank launched two investigations into the bank in Britain and the United States.

According to the Financial Times, the British authorities in the fight against fraud are currently reviewing certain transactions by Deutsche Bank and Goldman Sachs.

The bank is also part of the list of 17 major international banks covered by the plain of the U.S. federal agency oversight of mortgage loans (Federal Housing Finance Agency) for the role of these institutions in the subprime crisis.

Lagardère was forced to significantly revise down its forecast for operating profit for 2011 because of the difficulties encountered by the sports center in the first half.

An adjustment of annual objectives of the media group was expected, with Lagardère early March release a forecast that does not take into account the ongoing sale of its assets in international press whose impact is estimated at 35 million euros for exercise.

The surprise comes from Lagardère Unlimited, the results were significantly lower than expected by the group for the first half, forcing it to revise down further his ambitions for the year to expect a decline in the 5 to 7% of its recurring EBIT before associates (operating profit) media.

Without even considering the sale of its international magazines, the group could achieve a growth "somewhat positive" in operating profit in 2011 due to the underperformance of its sports division as it was previously an increase of about 10%.

"I remain very confident in the fact that sport is an engine of growth for the group in the years to come," said managing partner Arnaud Lagardère, in a conference call."What we have seen, this is not a problem but a problem of strategy execution."

It has set itself the ambition to make the pole a world leader in sport by 2015, investing over one billion euros since its inception, but the smallest of the divisions of the group has never been profitable.

After a blip in 2010, Unlimited had back hair of the beast in the sporting calendar for a more favorable but the division was weighed down by the first half of the items, including a dispute over cricket in India as well as implementation problems that resulted in an overhaul of its management.

IPO CANAL + FRANCE STILL SUSPENDED

The chief financial officer Dominic D'Hinnin said the shortfall was $ 40 million for the first six months, adding that some of the difficulties likely to continue in the second half.

"Sports has really collapsed, and it's not over," said Conor O'Shea, an analyst at Kepler Securities."The only positive is that this activity was considered low enough and at least the other divisions have posted results in line with expectations".

In the first six months of the year, the Media recurring EBIT before associates spring down 6.9% at constant exchange rates to 168 million euros to a total turnover of 3.72 billion euros.

The market was expecting an average of 178 Media recurring EBIT before associates million for a turnover of 3.673 billion euros, according to estimates by six analysts.

The group's performance was supported by the Services division, which owns the chain of newsagents and bookstores Relay, thanks to the sustained level of air traffic.

The publishing division, however, continued to suffer from dwindling sales of "Twilight" vampire saga by Stephenie Meyer successful, but should return to growth in the second half, said Dominic D'Hinnin.

Lagardère Active, which includes including Paris Match and Europe 1, has its share decreased by 3.1% on a comparable turnover excluding international magazines including the assignment to the U.S. was cordoned off for Hearst most end of May.

Asked about the proposed IPO of 20% held by the group in Canal + France, Arnaud Lagardere has confirmed that the current market conditions did not allow for time to consider a resumption of the process, suspended after the Japanese earthquake last March.

Asked if Lagardère could return to the table in discussions with Vivendi holding the remaining 80%, Dominique D'Hinnin said, "we want to sell and that's it."

Before the publication of results, Lagardère has closed up 2.26% to 23.80 euros. Since the beginning of the year, as a sign down nearly 23% while the index of pan-European media has given 14.34%.