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Italy will reduce by over 30% of its control hunters Joint Strike Fighter F-35 went to Lockheed Martin as part of plan to reduce expenses related to the crisis, said Wednesday the defense minister.

Italy now plans to buy only 90 fighter planes instead of 131 on which it had undertaken a decade ago, said Giampaolo Di Paola who spoke to the defense committees of the Chamber of Deputies and Senate gathered for the occasion.

"This is a significant decrease which is consistent with the need to reduce spending," said the minister.

The economy for the Italian state will amount to five billion euros on an original estimate of 15 billion. 

To clean up the public accounts to the crisis of debt in the euro area, the Council President Mario Monti has established at year end plan of 33 billion euros based relegated ; tively tax and spending cuts.

Tuesday, he refused to finance the candidacy of Rome Olympics of 2020, noting that Greece continued to pay the cost of those she held in Athens in 2004.

In addition, Italy is planning to reduce its workforce by 20% defense-related. The country uses for its defense and military 183,000 30,000 civilians whose compensation represents 70% of expenditure in the defense budget.

Italy will close or sell 30% of its logistics bases and seats of its regional centers over five years. In the navy, the number of patrol officers will be reduced from 18 to 10 and the number of submarines of 6 to 4, said Minister of Defence.

Reducing military spending, Mario Monti is based on the policies of President Barack Obama announced Monday a defense budget of 2013 provided for a reduction Pentagon spending for the first time since 1998. The Pentagon has canceled orders for 179 F-35 over five years to save $ 15.1 billion.

Unibail-Rodamco said Wednesday night anticipating a growth in recurring earnings per share by about 4% this year after suffering a weaker than expected decline in 2011 in the context of consumption, however, difficult and unstable. Europe's leading commercial real estate has also maintained its target of annual growth in recurring earnings per share of between 5 and 7% on average over the period 2013-2015. "For 2012, the group remains confident about the growth in rents. This perspective is based on strong fundamentals: a low vacancy rates, as limited effort, rents rise and cost of debt content "said in a statement Unibail-Rodamco. The company explains that caution is when the impact of the crisis in the euro area consumption and the situation of teachers, however, can not be ignored. "The net assets has increased, thanks to growth in rents, which is a very positive point. ANR spring with a premium of 15% over the share price, which shows the value remains price, "said Thomas Aubert, the French manager at AM. Before the publication of these results, Unibail-Rodamco has indeed ended with a gain of 2.72% to 150.80 euros, compared to its net asset value (NAV) ERPA triple net stood at 130.70 euros at end-December (4.9% compared to end 2010). Analysts consensus Thomson Reuters I / B / E / S awaited a NAV 131.18 euros. PRIME on sales net rents stand at 1.262 billion euros in 2011 against 1.257 billion a year earlier. Shopping centers on net rents reached 984.1 million euros last year, up 2.4% year on year. At the end of December, the recurring earnings per share of the group came out down 2.6% to 9.03 euros, 8.89 euros against expected by analysts. When publishing its interim results in July, the group reiterated its outlook for a decline in recurring profit for 2011 of between 3% and 5%, given the impacts the exceptional payout in October 2010 and its program of asset sales. Unibail will propose to the General Meeting the payment of a dividend of eight per share in cash, representing a distribution of 89% of its recurring earnings per share as the market expected an average 8.08 euros. Despite the difficult financial markets in 2011, the group rated "A" by rating agencies Standard & Poor's and Fitch Ratings, has raised a total of 3.1 billion euros of new financing , medium and long term, in the form of bank loans and bond issues. "It is also interesting to note that even on desks, Unibail managed to achieve growth while all sales were made at a premium," said Thomas Aubert, the net rents of offices increased by 4.2% on a constant basis. Unibail-Rodamco, the market capitalization of 13.8 billion euros, sold 1.084 million euros of non-core business assets and 242 million euros of assets from offices in 2011, with an average premium of 7.8% over the last values ​​of external expertise. The portfolio of development projects of the group, who will deliver this year including the mall Lyon Confluence, the end of 2011 amounted to 6.9 billion euros, 1.5 billion already spent. The market value of the portfolio of Unibail-Rodamco amounted to 25.9 billion euros late last year, up from 1.4 billion end of 2010.

The number of registered employment center has again sharply in October. The unemployment rate could pass the symbolic threshold of 10% this year as the economy is threatened lights of a new recession. Explanations. Agency employment center in Nice

Unemployment continued to fly in October in France: the number of job seekers without activity (category A) has again increased sharply in October, 1.2%, or 34,400 people, to reach 2.814 million , according to figures released Monday by the Ministry of Labour. The total number of people seeking work, including those engaged in a reduced (categories A, B and C) also increased by 17,200 to 4.193 million people (0.4%).

Fever market does not seem to stop. So many voices calling for the ECB buys massive amounts of government securities in difficulty to break the panic and speculation. But is this really the solution? ECB

In the state of current market panic, the ECB is more than ever figure of last bastion of the euro area. Provided, however, she agreed to play this role … Italian interest rates still evolving around 7% Thursday, an unsustainable level on the scale of a few months. And fears of contagion from France have propelled the difference in interest rates between Germany and France to a new record (204 basis points difference, France into debt at a cost of more than two times higher).Sign that it is a disruption of markets, interest rates of other states in the euro area AAA rated – such as Finland or the virtuous Netherlands – are also affected.

In this context, increasing the pressure on the European Central Bank in order to redeem government bonds heavily attacked. The Nobel Prize in Economics Paul Krugman recently called for greater involvement of the ECB. "It should send a clear message and say" we buy as many (sovereign debt) than necessary. "In France, many economists on the left are also campaigning on this issue. Even in Germany, there are voices in this sense Like Peter Bofinger, an economist and adviser to the German government. "It's not attractive … But we must clearly realize that it's an emergency.

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.

GDF Suez and Spanish Iberdrola announced Friday they would wear 50% participation in each NuGeneration, a joint venture created to develop a new generation of nuclear power in Britain, following the decision of Scottish and Southern Energy (SSE) to withdraw from the joint venture.

GDF Suez and Iberdrola, in a joint statement, reiterate their "strong commitment" in NuGen and adds that "there is no reason for the decision to interfere with the SSE project or schedule."

"As expected, the final investment decision should take place by 2015 for commercial operation of new nuclear power plant around 2023," they affirm.

The EU finance ministers agreed Saturday that special attention should be paid to the capitalization of banks, but without considering that they were in urgent need of new funds.

Eight European banks have failed the stress test last July and must raise a total of 2.5 billion euros, while sixteen others were narrowly successful and were invited also to make arrangements.

But faced with violent turbulence in August and early September in the markets, the executive director of the International Monetary Fund (IMF) Christine Lagarde called for a broader recapitalization of the banks of the old continent.

"From our point of view, there is a clear need to recapitalize the banks' said Swedish Finance Minister Anders Borg at the end of the informal meeting of finance ministers held Friday and Saturday Wroclaw, Poland.

"I think the IMF has expressed very clearly, the banking system needs to be more robust and it is primarily a question of capital," he added.

His Spanish counterpart, Elena Salgado concurred."There is a consensus that it would be good for our financial institutions increase their capital to comply with Basel 3 and deal with any eventuality of time," she told reporters.

She also acknowledged that the opening of branches of unlimited liquidity by central banks did not reflect a situation "optimal".

Thursday, central banks in Europe, Japan, Switzerland and Britain announced they would offer refinancing operations in dollars to banks so that they have to face a credit freeze as the worst of the crisis Fall 2008.

"CREDIT CRUNCH"?

Earlier this week, senior advisors to European finance ministers and heads of the Treasury of Twenty-Seven had warned about the risks of a new credit crisis like the one observed in 2008 if nothing was done to solidify the capital structure of European institutions.

They mentioned such a "risk of a vicious circle between sovereign debt, financing banks and the negative growth", which could cause a credit freeze.

"Spillover effects" could "feed a dangerous downward spiral between the financial sector and real sectors of the economy or financial problems (…) risk aversion (…) Could lead to a deleveraging of banks, a phenomenon that in turn would result in some Member States, a credit crisis, "they warned.

According to several sources who attended the meeting, the European Central Bank, the EBA and the European Commission echoed these demands Saturday and urged the Member States to ensure that the capital position of banks remained strong.

Some ministers, however, sought to disperse fears and minimized the risk of a repeat of the "credit crunch" of 2008.

"The general situation of European banks is stable," stressed the President of the Eurogroup Jean-Claude Juncker.

Luxembourg Finance Minister, Luc Frieden, has meanwhile found that the situation was "not alarming".

The Tokyo Stock Exchange finished Monday up 1.37%, taking in turn the path of recovery from the European and U.S. markets late last week.

The Nikkei gained 122.69 points to 9,086.41 and the Topix, broader took 8.93 points (1.16%) to 777.12.

GDP figures, published earlier today in Japan, reported a smaller than anticipated contraction in the economy, with a decline of 0.3% against -0.7% expected and 0.9% in quarter above.

As the Osaka Securities Exchange, the operator of the Osaka Securities Exchange, finished up 8.6% to 410,500 yen.The daily Yomiuri Shimbun reported on Saturday that the Tokyo Stock Exchange plans to become the purchaser via a takeover bid.

Toyota, Honda and Sony have outperformed the market by winning respectively 2.91%, 3.43% and 3.93%.

EDF issued Friday an increase in profits in the first half data in organic and has set targets for growth in the medium term long-awaited by the market.

The electrician public said in a statement it was for the period 2011-2015 average annual growth of between 4% and 6% of its gross operating profit (EBITDA), at constant scope and exchange rates, and a range from 5% to 10% in net income.

EDF is also a ratio of net debt to EBITDA below 2.5 and a payout ratio of 55 to 65%, and net investments of between 13 and 15 billion euros in 2015.

The group, which seeks to diversify its energy mix and geographical locations, said in May it was 200 gigawatts (GW) of capacity in 2020 against 150 GW at present, 50% in the nuclear, 25% in the thermal (gas, coal) and 25% hydro and other renewables.

In France, EDF said in particular that it plans to spend between 3.4 and 3.6 billion euros in 2015 to ten-year inspections, the program of replacement of heavy components and other investments related to plant operations, against $ 1.7 billion in 2010.

The electrician also provides that the efficiency program will allow him to record 2015 earnings by more than 2.5 billion euros (over 2010), about 1.3 billion euros purchasing performance, on the margins, operating costs and investments.

PURPOSE OF NUCLEAR PRODUCTION RECORD

After restatement of the first half of 2010 to reflect the disposals, the group recorded in the first half 2011 net income group share of EUR 2.554 million (139% organic), a net profit of 2.629 million ( 12.5% ​​organic growth), EBITDA of 8.616 million (6.2% organic) and a turnover of 33.464 million (+2.7% organically).

According to the consensus reached by the group, analysts on average expected a net profit of 2.429 million euros, EBITDA of 8,580 million and a turnover of 33.508 million.

The growth in EBITDA in the first half was driven by good operating performance in France, where the group has improved the performance of its nuclear fleet, and the United Kingdom.

EDF is also the target range nuclear production for 2011 at a level of 411 to 418 terawatt hours (TWh), against a target of 408 TWh to 415 TWh above.

For 2011, it is always an organic growth of its Ebitda of between 4% and 6% and a dividend at least equal to that paid for 2010.

It is also banking on a ratio of net debt / EBITDA between 2.1 and 2.3 by including the buyout of minority EDF Energies Nouvelles.

"The most demanding investment criteria will be applied. The EDF Group will invest in projects that create value from 300 basis points above the weighted average cost of capital (WACC), which corresponds to rates of return above 1.0 to 1.5% from the previous criteria, "he added.

The title EDF closed on Thursday during a 27.005 euros, registering a decline of 12% since the beginning of the year after a plunge of 26% in 2010.

Hyundai Motor on Thursday posted a net profit up 37% in the second quarter, exceeding analysts' expectations, the manufacturer of vehicles worldwide sales record while clawing market share to its Japanese competitors.

South Korea's fifth global manufacturer, said he had a net profit of 2.300 trillion won (1.5 billion) from April to June while the consensus is 2,100 billion won.

The same quarter last year, its net profit stood at was 1700 billion won.During the first three months of this fiscal year, he enrolled in 1900 billion.

Since the beginning of the year, Hyundai releases earnings on a consolidated basis, which can reflect the results of its subsidiaries including its financial operations in order to comply with new accounting standards.

The group said that its market share had increased to 5.5% in the second quarter in the United States, against 4.7% during the same period last year, driven by strong sales of the Sonata and the Elantra, while its Japanese competitors have seen their production affected by the consequences of the earthquake of March.