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Lafarge announced Friday an increase in its turnover and its operating income in the first quarter thanks to emerging markets and improved pricing, allowing the world's leading cement to reduce its debt.

The group, which now generates 60% of its sales in emerging economies, achieved the first three months of the year sales up 5% to € 3.35 billion, slightly above the consensus reached by the editor of Reuters estimates from eight analysts who gave $ 3.3 billion.

Ebitda rose to its share of 8% to 516 million euros while operating profit rose 28% to 267 million. 

However, net income, group share, shows a loss of 44 million euros, against -29,000,000 a year earlier, reflecting restructuring charges corresponding in particular to the 500 job cuts engaged around the world as part of the reorganization of the group. Excluding these charges, Lafarge has emerged over the period with net income of 18 million euros.

"The group continues to anticipate an increased demand for cement, and maintains its estimate of market growth between 1% and 4% in 2012 compared to 2011," the group said in a statement .

"Emerging markets remain the main driver of demand growth (…) The prices should be up on the year 2012, and cost inflation more moderate e in 2011. "

CONTINUATION OF ASSET TRANSFERS

In the first quarter, net debt of Lafarge fell 13% year on year to 12.4 billion euros. One quarter to another, it is clear, however, up 3%, a trend linked "to normal seasonal variations in working capital (working capital needs)," said Lafarge.

The group's debt, inherited largely from the acquisition of Orascom in 2008, is still expected to decline "significantly" this year, without elaborating.

As part of its debt, Lafarge intends to limit to 800 million euros investment and reduce by at least 400 million euros in 2012 its costs. The group also maintained its target of over one billion euros of asset sales over the year, of which 71 million were made during the quarter.

Both activities are the subject of rumors of transfers, the plaster in North America, last active group in a trade which it is almost released last year, and cement in South Africa . The group must also achieve significant asset sales in Britain required by the Competition Authority to give its green light to the proposed joint venture between Lafarge and Anglo American.

"It is not impossible that these divestitures can be made in 2012," said the CEO of Lafarge, Bruno Lafont, during a teleconference.

The stock closed Thursday at 29.97 euros. Since the beginning of the year, the title took about 10%, after -42% in 2011.

NYSE Euronext reported Monday a sharp drop in its first quarter results, citing "difficult operating environment" and the resulting costs of its failed merger with Deutsche Börse.

The exchange operator announced for the period net profit down 44% to $ 87 million (65.71 million euros).

The total turnover declined 17% to 952 million.

"Our first quarter results reflect the difficult operating environment that continued in 2012 and will continue to be felt in the short term," said Duncan Niederauer, CEO of NYSE Euronext.

The group said to include $ 31 million cost, including $ 16 million of costs associated with the aborted merger with Deutsche Börse. 

NYSE canceled the merger to $ 7.4 billion in early February after the agreement was rejected by the European antitrust authorities, making this operation the fourth merger canceled since early last year.

Since the failure of this transaction, NYSE Euronext has refocused on the opportunities presented by new markets such as the creation last month of its own clearing house for transactions and eventually moved away CHL. Clearnet, its supplier to date.

This creation comes as its main rival the London Stock Exchange plans to finalize the acquisition of LCH in the fourth quarter of this year.

The budget deficit of the French state stood at 24.2 billion euros in February against 28 billion a year earlier, according to data released Friday by the Budget Ministry.

Expenses (general budget and levies on revenue) reached 63.6 billion in February against 57 billion a year earlier.

Revenues (net of refunds and rebates) totaled 45.4 billion euros against 40.2 billion a year earlier. 

"The positive trend (from February 2011-Ed) is mainly in respect of expenses, for a faster pace of expenditure recognition, and respect revenues, for the record, in January 2012, an exceptional product for the allocation of authorizations to use radio frequencies, "the ministry said in a statement.

"The net tax revenues come up from one year to another," he says. "This positive development is consistent with the forecasts used in the last supplementary budget."

As for spending, their progress "is consistent with the prediction of the supplementary budget for 2012".

The government deficit is the main component of the public deficit, which also includes financial statements and those of local communities.

In 2011, the deficit has been 5.2% according to the first estimate published by INSEE.

France has committed to reducing the public deficit to 4.5% of GDP in late 2012 to return in 2013 to the EU limit of 3%. The government recently revised its 4.4% target for this year.

The Socialist candidate for president, Francois Hollande, currently leading in the polls, has also committed to reducing the deficit to 3% in 2013, after s 4.5% in late 2012. He plans to balance the public accounts in 2017.

The Tokyo Stock Exchange ended down Friday as investors questioned the growth in China and in the euro area.

The Nikkei was down 1.14% or 115.61 points to 10,011.47 points, accusing its daily loss in the largest percentage for two months. The Topix broader, showed a decrease of similar magnitude (-1.11%) or 9.54 points to 852.53 points.

Expectations of economic slowdown has affected exporters. Toyota lost 2%, 2.9% Honda 3.1% and Sony.

Nomura Holdings has continued to slide and yielded 3.8%. An employee of the main Japanese investment bank is suspected of insider trading.

Speakers stressed however that the profit-taking offer buying opportunities for long-term investors.

Despite the drop Friday, the Nikkei is up over 18% since the beginning of the year.

The Post became a limited company with public capital has eliminated nearly 12,000 jobs in 2011 according to the CGT and SU. La Poste, "office of the future"

Nearly 11,000 jobs lost by departures not replaced. This is the figure announced by the CGT and SUD for the Post last year. Became a public limited company on 1 March, the Post employs about 240,000 people.  

For unions, these job losses have a direct impact on working conditions of postal workers.

In a statement, said the CGT and the Post recording of financial results up "with increasing job losses and tragedies that are multiplying," saying that "behind the numbers, a real human catastrophe develops within the company, "marked by the suicide of a young executive in Rennes last week.

SOUTH evokes his side a "precipitous drop" job with "10,091 jobs lost, or" about a replacement for four starts "seeing" a bleeding even more disastrous for the working conditions that mail traffic has declined 3%, "a weaker pace than expected 5%. The union stresses that" the number of CSD rose by nearly 10% "in 2011 with 2,000 additional employees with this type of contract to December 31. SUD also pointed out that the number of sick days per officer does not drop, reaching 20.45 days in 2011, against 20.86 the previous year.

After the suicide of the frame of Rennes, the CEO of La Poste, Jean-Paul Bailly, is committed to rapidly start "a cycle of listening and dialogue on health and welfare at work".

A series of meetings with trade unions to take place next week. Regarding employment, the direction of the Post reported in mid-February that it undertook to recruit at least 10,000 people on permanent contracts over the period 2012-2014 as part of a management agreement of estimates of jobs and skills (GPEC) subject to the signing of trade unions.

Executive added that 7500 study contracts would be offered over the same period.

The Board of Casino, unsurprisingly, on Monday rejected the proposal to buy the Galeries Lafayette Etienne distributor 50% of its Monoprix at a price of 1.35 billion euros.

Casino and Galeries Lafayette, Monoprix co-shareholders, put in the public last week disagreed on the valuation of the sign of the city center.

According to a memorandum of understanding, Galeries Lafayette can exercise an option to purchase their shares since 1 January 2012.

But department stores believe that's 50% to 1.95 billion euros, while the casino values ​​to only 700 million, a figure far removed from the evaluation of 1.225 billion euros recorded in its accounts to 31 December 2010. 

"If the Galeries Lafayette confirm their wish to sell their stake in Monoprix, Casino will acquire, in accordance with its commitments under the Protocol, at the right price of the asset," reaffirms Casino Monday.

To break the deadlock, Ginette Moulin, whose family owns 100% stake in Galeries Lafayette, offered in early February at Casino CEO, Jean-Charles Naouri, to sell its 50% price 1.35 billion, representing the average of two-or offers to buy back his hand, at this price.

This last proposal was considered by the council met to approve casino accounts of the distributor, whose annual results will be released Tuesday morning. 

Casino had already announced last Saturday that there was no seller on his part in Monoprix, a strategic asset for the group.

"The board unanimously approved the directors present or represented, except Philippe Houze, (chief executive of Galeries Lafayette and Monoprix CEO) that n did not take part in the vote (…) the position expressed as an assignment of the Casino in Monoprix would be contrary to the interests of Casino, "he said in a statement . 

The price of 1.35 billion represents 9.1 times 2011 EBITDA (excluding debt) Monoprix, Casino believes that this figure compares to a multiple of 5.7 times "for major companies listed ; are European sector "(Casino, Carrefour, Tesco, Ahold, Delhaize, Sainsbury and Marks & Spencer).

Euler Hermes announced Thursday an increase of over 12% of its net income, thus resisting a challenging economic environment in Europe.

In a statement, the global credit insurance shows an operating profit of 471.7 million euros (consensus Thomson Reuters I / B / E / S 466 500 000 ), a net profit of 330.3 million (332.5 million consensus) based on a turnover of 2,274.9 million.

The group, a subsidiary of German group Allianz, and proposes a dividend of 4.40 euros per share, up 10% over last year (EUR 4.34 consensus). 

The net combined ratio of Euler Hermes – which measures the profitability of business written in claims costs related to premiums received – is content to 70.0% (against 68.7% in 2010), which corresponds to its target.

Regarding 2012, Euler Hermes estimates that "the world economy is on the ropes".

"The issue of sovereign debt, particularly in the eurozone, the reduction in public spending, weak growth and rising unemployment will affect consumption and investment, both public private, "the group. 

Euler Hermes, which anticipates an economic slowdown and said it had prepared for alternative scenarios, however, provides that an application for credit insurance is high and expected to increase March-May% of its premiums in 2012.

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.

The year 2011 has been that of all records on the art market, marked by the dramatic emergence of Asia, led by China. The 10 digit extraordinary auctions selected by the data specialist on art, Artprice. By a sale at Sotheby's in New York.

11.5 billion USD: world product auctions. Time high this year, sales revenue for the first time exceeds the 10 billion USD, up 21% over the last twelve months. After a record first half, to 6.5 billion, the second half was equally outstanding, to $ 5.1 billion.

41.43%: the market share of China. China, the first country on the global art market since 2010, consolidated his lead. With auctions of $ 4.79 billion, up 38%, the country has a market share of 41.43%. Other Asian countries are also seeing strong growth. This is the case of Singapore, up 22%, or Indonesia, with a jump of 39% for example. And Asia as a whole now realize 43% of the art market.

4th: the position of France. France, third in 2006, is found from 2007 to fourth in the art market. This year again it keeps this place despite an erosion of its market share to 4.5%. Paris is now not only behind London and New York, but Beijing and Hong Kong. While Shanghai, with a growth of 21%, reduced the gap by half and heels less than $ 50 million the French capital.

$ 57.2 million: the price of a work record in 2011. This record does not belong to Pablo Picasso, Alberto Giacometti or, or Andy Warhol, but Qi Baishi who picks the best auction of the year for the work Eagle Standing on Pine Tree, Four-Character Couplet in Seal Script awarded $ 57.2 million 22 May 2011 in Beijing.

$ 272 million: the largest auction of the year. This is a sale by Christie's Contemporary Art in Post-War, New York on November 9. She has received two new records for Clyfford E. Still, as a record for the artist Gerhard Richter. Only 17% of the lots remained unsold, and 41 have gone over $ 1 million.

12,400: the number of artists who have set new records. More than 12,400 artists saw their auction up to new heights with Qi Baishi (57.2 million this year against 12.5 before 2011), Clyfford Still (55 million against 19), Roy Lichtenstein (38.5 million against 38), Egon Schiele (35 million against 20), Salvador Dali (19 million against 5), Gerhard Richter (18.5 million against 13) …

1688: the number of million. The auction for more than a million dollars jumped 33% in 2011. Unsurprisingly, it is China that holds the record for most number of works of art auctioned at above one million dollars, with 774. Hong Kong alone, he has won twice as many bids as millionaires in the entire euro zone!

58.5%: share of turnover achieved by the 1% most expensive lots. The remaining 99% of auctions share less than half the art market. And unsurprisingly, the "1%" are traded mostly in China, 50%, then the United States, 23%, and the United Kingdom to 20%.

34%: the rate of returns. Since 2007, never a sales ratio was spent below 35%. It's done this year with a sales ratio of 34.8%. And while the number of lots available for purchase at auctions rose 7%.

69%: the percentage of lots sold at less than 5000 dollars. Only 69% of the lots were auctioned in 5000 dollars. While in 2009/2010 this rate reached up to 74%. This year the number of lots does not diminish affordable, it actually increases by 4.5%, but less rapidly than the number of high-end lots. Asia, which now carries 43% of art market wins 19% of its lots beyond the $ 100 000.

Social VAT and tax on financial transactions were presented to the Cabinet Wednesday, the last step before a parliamentary debate. The standard VAT rate will increase on 1 October from 19.6% to 21.2% to compensate for 13 billion euros of lower employer costs, announced Sunday, January 29 Nicolas Sarkozy

The proposed VAT and social tax on financial transactions tax of construction sites last five years, were presented Wednesday by the Cabinet before a parliamentary debate and a deferred entry into force of several months.

The draft supplementary budget for 2012 will now be discussed from Monday to the National Assembly for a final parliamentary adoption scheduled for late February or early March at the latest. The symbolic measure of this supplementary budget is called social VAT, a name rejected by the government.  

VAT is to alleviate social, from 1 October, employers' costs to fund family policy, for 13.2 billion euros in a full year ($ 3.6 billion in 2012). These family contributions paid by employers are suppressed for salaries between 1.6 and 2.1 times the minimum wage, and relaxed, on a sliding scale, between 2.1 and 2.4 times the minimum wage. Wages to below 1.6 times the minimum wage already benefiting from such reductions in charges. In all, according to Bercy, 14 million employees are affected by the measure.

To offset the cost of this measure whose objective is to lower labor costs and thus increase the competitiveness of French industry, the government intends to increase by 19.6% to 21.2% the normal rate of VAT, also on 1 October. This measure will yield € 10.6 billion per year in stride.  

Finally, the general social contribution (CSG) on capital income is increased by two points, from 8.2% to 10.2%. This includes income from assets as of 1 January and investment products as of July 1. This measure will report full-year 2.6 billion euros needed to complete the reform so that it is neutral for public finances.

Moreover, the supplementary budget provides for the creation, effective August 1, a tax on financial transactions in France. Transactions in shares of companies whose market capitalization exceeds one billion euros and is headquartered in France will be taxed at 0.1%.