US & World News

U.S. light crude closed up more than 4% Friday on the New York market, investors fearing a spread of Egyptian tensions with other countries in the Arab world.

The contract ended in March with a gain of 3.72 dollars, or 4.34%, to 89.37 dollars a barrel.

Upon the close of the New York Mercantile Exchange, Brent took $ 1.93 (1.98%) to 99.32 dollars.

The meeting was marked by exceptional volumes, according to Reuters data.

Brent "knocks at the door of $ 100.Whenever there is violence in the Middle East, we buy by betting on the risk, "said Andrey Kryuchenkov VTB Capital.

Galvanized by the Tunisian example, tens of thousands of Egyptians took to the streets this week to demand the departure of the "rais", in power for nearly thirty years.

Gunshots were heard Friday in Cairo after the commencement of the curfew and the headquarters of the National Democratic Party (NDP) party, was on fire after a day of unprecedented challenge to the regime Hosni Mubarak.

Oil prices were also supported by the statistics that the growth of the U.S. economy has accelerated in the fourth quarter 2010, driven primarily by consumption and exports.

The secretary general of the CGT did not intend to leave office before the end of his mandate as stated by Le Parisien. He denounced an attempt to "destabilize". The general secretary Bernard Thibault of the CGT (here at a press conference in Montreuil January 17, 2011) has denied wanting to leave office before the end of his term.

The general secretary Bernard Thibault of the CGT on Thursday denied a statement by the assertion of the daily Le Parisien that he intended to leave office, denouncing the "ghost" of internal conflict and an attempt to "destabilize" the union .

"A news article this morning," says "I intend to throw in the towel at the end of the year by leaving the responsibilities entrusted to me by organizations of the CGT," says leader CGT, continuing: "I deny this information very clearly."

"In no case," the CGT is experiencing "internal conflicts as they would destabilize its national leadership. This fantasy, relayed over several weeks, trying to destabilize the CGT after noting the role played by activists in the exceptional action over pensions, "he says.

Under the heading "Bernard Thibault wants to throw in the towel", Le Parisien said that the leader of the CGT had told his entourage, in late December its intention to divest its position at the end of 2011. The union leader was renewed at the end of 2009, the congress of the CGT, for a third term of three years as head of the confederation.

Proud to lead the CGT

"Unfortunately for our detractors, the CGT is increasing and it is the president that comes a little further weakened the arm of iron he has imposed on employees," Thibault said in its development.It considers the CGT "offensive, lucid about his responsibilities and aware of the challenges facing the labor movement."

"Beyond the difficulties inherent in the trade union struggle, I feel a real pride in advocating for the CGT," says Thibault. Commenting on the statements of the daily, he said not meet "any particular difficulty on the family." Moreover, while his back problems were discussed, he quips: "My health check today boils down to a dull sinusitis.

"For the future of the CGT and its leadership, we will proceed when the time comes – and it's not yet the case – according to our usual procedures in a collective framework and according to statutory procedures" for designating a successor."I invite the organizations of the CGT, its activists not to be distracted from our main objective: to create the best conditions for all the consideration of claims of employees," concludes his number one.

Russian President Dmitry Medvedev has sought to woo investors Wednesday at the opening of the World Economic Forum in Davos, Switzerland.

The Kremlin leader, who had to delay his arrival in the resort of Graubünden because of the bloody attack occurred Monday in Moscow's Domodedovo airport, gave a speech after meeting with business leaders.

"All reconstruction efforts and expansion of the global economy will be in vain if we fail to defeat terrorism, extremism and intolerance," he warned.The Kremlin leader said he had still made the trip to Davos not agree with those who want to "bring Russia to its knees."

Medvedev, who was no longer coming to Davos for four years when it was still a possible presidential candidate, has called for patience to investors, explaining that Russia was a young democracy 20 years.

"We must learn to wait," said the head of the state-owned bank Sberbank, German Gref, summarizing the message sent by Medvedev to investors.

In his speech, the Russian president also reiterated that his country would sell over the next three years for investments in major banks, infrastructure and energy companies for sums in the tens of billions of dollars.

He added that Russia would encourage partnerships with other countries in the energy sector.

Displayed in geek enthusiast of new technologies, Medvedev has arrived with a tablet iPad and he praised the work done by the website Wikileaks, which marks the end of November revealed confidential U.S. State Department.

"Despite the fact that it was probably illegal under some states, the consequence of this case seems very, very positive for international relations," he said.

Nicolas Sarkozy will launch on Tuesday in Saint-Nazaire call for projects expected for several months for the construction of 600 turbines at sea in 2015. An offshore wind farm off the coast of Kent, southern England.

For the first time, wind turbines will rise up off the French coast: the call for projects to build 600 offshore turbines by 2015 will be launched on Tuesday in Saint-Nazaire (Loire-Atlantique). The call for nominations, as announced in October the former Minister of Ecology Jean-Louis Borloo, should cover the installation of 3,000 megawatts (MW) offshore for an investment of 10 billion euros.

Five sites should be selected according to Le Figaro, to host the French first offshore wind turbines, which will not be operational before 2015, Saint-Nazaire in Tréport (Seine-Maritime) through Fecamp (Seine-Maritime), Courseulles-sur Mer (Calvados) and Saint-Brieuc.After several months of wrangling, the terms of the call for proposals have been refereed Thursday by the government. Nicolas Sarkozy must detail how Tuesday and the Minister for Ecology Nathalie Kosciusko-Morizet submit the draft by the Cabinet on Wednesday.

The ministry hopes that this project will give a "new breath" at the Grenelle Environment while the moratorium imposed on the photovoltaic sector in recent weeks raises questions about the government's environmental ambitions. Through the Grenelle, France, to reach a target of 23% renewable energy in its energy consumption in 2020, wants to build a wind farm of 25,000 MW including 6,000 MW offshore

Today, onshore wind provides less than 2% of French consumption.France is launching in the bath of offshore wind while Great Britain, the European leader, has already installed more than 1,300 MW and Denmark over 850, according to the Association of European wind energy. The government's goal is to enable the development of a genuine French industrial sector in the wind (11,000 jobs currently) while large manufacturers are now Danish (Vestas), American (GE), Chinese (Sinovel) or German (Enercon).

Alstom, one of two groups with French Areva may build the turbines, announced last week its association with EDF Energies Nouvelles to fit exclusively, from 2013, offshore wind farms developed by the electrician.According to the Renewable Energy Association (SER), nearly 200 French companies are likely to benefit from the development of wind power in France.

In order to address these developments and avoid the explosion in volume as photovoltaics, the state will not set in tariff for wind power at sea These are the candidates who offer industrial in their draft of a resale price electricity to EDF.A ministerial decree currently sets the purchase of the offshore wind electricity at 13 euro cents per kWh, but the fare "does not sufficiently profitable projects," said Marion Lettry, head wind to the SER, recalling that Price is in Germany "between 16 and 18 cents."

"The consumer will pay," denounces the Sustainable Environment Federation (FED, 740 associations and groups opposed to wind turbines), which criticizes the "subsidy" from the wind when "it will not create any jobs in France" , as his vice-president Michel Broncard. But beyond the economic battle, manufacturers will have to deliver as that of opinion, as illustrated in the met strong opposition by imposing Tréport project (141 turbines, 700 MW) of Compagnie du Vent (subsidiary GDF Suez).

The motion correction on Wall Street, predicted by many analysts, may have started in view of the weekly decline that has just undergone the S & P 500 after seven consecutive weeks of increases.

But, bearing in mind particularly the strength of Dow Jones, which has maintained its momentum with an eighth straight week of gains, the U.S. stock market could give the lie to the predictions, provided that the results go into business common sense.

With expectations may be exaggerated investors in this area and in a context where the S & P 500 has still jumped 9% since the beginning of December, while sales worse than expected may pay dearly, as did Experience Goldman Sachs or Bank of America.

The better than expected performance of General Electric, whose title has won more than 7% Friday, reinforced the optimism of players for the fourth quarter. But it can quickly give way to doubt if anyone imitate the U.S. industrial conglomerate.

The following week will be especially marked by the numbers of industry giants such as Chevron Oil and ConocoPhillips.

The program of the current earnings season are also other big industry names such as Boeing, Lockheed Martin, Dupont or 3M.

Side indicators, all eyes will be on the Federal Reserve, whose monetary policy meeting on two days ending Wednesday.Rates at historically low levels, should be maintained, but what particularly note the attention, it will be assessing the situation of the United States by the Fed.

There will also GDP figures for the fourth quarter and a series of data on U.S. housing sector.

A HISTORICALLY BAD MONTH FOR FEBRUARY

Beyond the effect of outcomes and indicators, many analysts believe that most stocks traded on Wall Street are currently overvalued.

Marc Pado, a technical analyst with Cantor Fitzgerald, said that the month of February, generally not conducive to Wall Street, should be the scene of a "retreat wholesome."

"We anticipate a decline of between 5% and 7% and I think this movement began last Wednesday," he added.

Since 1950, the month of February is characterized by an average decline of 0.2% S & P 500.

That said, the month of January is generally considered a good indicator for the whole year – this was verified in 78.3% of the last sixty years, according to Stock Trader's.

Six sessions later this month, the S & P 500 rose by 2.04% in January.

According to the study of a British firm, 41% of recruiters believe that French women with children are less involved in their work.

The gradual resumption of hiring in the world does not benefit all employees, according to the firm Regus specialist workspaces, which publishes a study on recruitment of women with children in 78 countries. Based on the statements of 10 000 professionals, the survey shows that the proportion of firms planning to hire employees benefit mothers has decreased by 8% in a year: only 36% are involved, then they are 45 % want to recruit in 2011. "The career prospects of women has deteriorated since the beginning of the recession," the authors observe.

"Old prejudices"

In total, 31% of recruiters are reluctant to employ female employees with children.They are 37% to imagine less invested in their work, a figure that rises to 41% among French business leaders. One third of respondents also feared they decide to have more children, or consider their qualifications exceeded the return from maternity leave. "It is not surprising that old prejudices resurface in a context of economic austerity," said the study Olivier de Lavalette, CEO of Regus Southern Europe, which recalls, however, that "the French government are directly involved in the issue "with the passage of a law imposing a quota of women on boards of directors.

Much of respondents preferred to see in the part-time work a way around the problem … while reducing the costs of hiring.57% also come to conclude that the employed mothers are even more significant that they offer their expertise without demanding wages too high …

Wall Street declined Wednesday with bank stocks, the results where disappointing Goldman Sachs and Wells Fargo have dampened the hopes of seeing some of the area show strong quarterly performance.

If the Dow Jones was able to limit its losses thanks to IBM, which advanced 3.35% to 155.69 dollars after the publication on Tuesday of fourth quarter results better than expected, the S & P 500 posted its biggest daily drop in nearly two months.

And the Nasdaq Composite has in turn had its biggest one-day drop since Nov. 16, following disappointing results from the manufacturer of LEDs Cree, who posed on the entire technology sector.

The Dow Jones industrials and 30 yielded 0.11% or 12.64 points at 11,825.29.The S & P-500, wider, lost 13.10 points, or 1.01% to 1,281.92 and the Nasdaq Composite dropped 40.49 points on his side (-1.46%) to 2725.36.

The S & P 500 Financial compartment fell 2.20% and the KBW banking index by 2.39% after the results of the day that left investors dissatisfied.

The title Goldman Sachs has lost 4.69% to 166.49 dollars after the investment bank reported a 53% drop in quarterly profit, partly reflecting weaker results from its activity in bond products .

Wells Fargo's share declined from 2.03% to 31.81 dollars following the release of quarterly earnings, though up 21%, stood at a level below the expectations of some analysts.

American Express has seen its share drop from 2.44% to 45.24 dollars after the payment card group said that restructuring charges would affect its earnings in the fourth quarter.

"The results (in banking) were due to a higher level (…)", said Thomas Villalta, portfolio manager at Jones Villalta Asset Management, but noted in passing that financial stocks had risen sharply since the beginning the fourth quarter of 2010.

The title Cree fell 14.48% to 53.63 dollars after announcing late Tuesday forecast below expectations, which pushed the other LED manufacturers, especially used in mobile phones, such as Rubicon Technology (- 7.7%) and Veeco Instruments (-6.1%).

The index of semiconductors Philadelphia Stock Exchange was down 2.36%, a move attributed by intervening in the market to a movement of profit taking.

In agriculture, the action of Mosaic seed has lost 10.49% to 76.15 dollars because of the feeling shared by many experts that buyers will not rush for the group, listed by Cargill.

Apple expected to announce Tuesday an increase of 50% of its quarterly revenue, driven by the success of iPhone and iPad, but the U.S. giant, specializing in consumer products, can not evade questions about the health of his charismatic boss .

Steve Jobs, who is 55 years, announced Monday a new temporary sick leave, while U.S. markets were closed for the Martin Luther King Day, without giving a likely date of return, contrary to what happened when its previous ruling.

This is the second in two years – he had been away for six months in January 2009 for a liver transplant – and the third since 2004.That year, he underwent surgery for pancreatic cancer.

Tuesday in early trading, Apple shares traded in Frankfurt continued its decline after plunging more than 6% Wednesday to the news. The share was 0.64%.

These days, Apple's stock had reached historic highs on the Nasdaq. The Californian firm had just announced that its iPhone would be available to subscribers of the first U.S. mobile operator Verizon Wireless.

At the Tokyo Stock Exchange, some companies whose products complement those of the firm at the apple, lost ground on Tuesday.Thus, Foster Electric, which manufactures headsets for smart phones, sold 1.4% and Kimoto, which produces coatings for touch screens, ended down 2.1%.

"Steve Jobs is regarded by the market as a leading force for the strategic direction for Apple," said Richard Windsor at Nomura."If his pancreatic cancer has returned, there are concerns."

In the absence of Steve Jobs, it will be the group's chief operating officer, Tim Cook, who held this position since 2005, to decide what to say about his boss absent and what Apple has done with a cash (cash and marketable securities) of $ 50 billion (37.4 billion euros).

FEAT

Less media attention than Steve Jobs, Tim Cook, who is aged 50 years, should not make loud announcement. However, it is regarded as someone you trust.He has represented Jobs successfully twice before.

In 2009, during the six-month absence of Steve Jobs, Apple's stock had gained 60% led by Tim Cook.

Apple's strengths are known: the iPhone should sell more than 60 million units worldwide this year, the iPad, which launched the market shelves and who, as a precursor, is likely to aggravate his groove despite the competition, not to mention the range of Mac computers.

For the first fiscal quarter of Apple closed in late December, Wall Street expects a turnover increase of over 50% and over 24 billion, driven by sales associated with Christmas and New year.

For any company of significant size, it would be considered an achievement, but it is a bit less for a company whose market capitalization exceeds $ 300 billion (225 billion euros).Apple alone accounts for some 7% of the capitalization of the Nasdaq.

In volume terms, analysts expect 15.5 million iPhones sold between October and December, 5.5 million and 4 million iPad Mac.

This should result in a profit of $ 5.40 per share, according to analyst forecasts compiled by Thomson Reuters I / B / E / S.

Estimated SmartEstimate which weights more the latest forecasts of the most respected analysts, Apple will post earnings per share of 5.47 dollars for a turnover of 24.5 billion.

These last two years, Apple has exceeded 29% on average Wall Street expectations in terms of benefits and 9% on average in terms of turnover.

"The only surprise in terms of results is whether there is anything but sensational news", commented last week Barry Jaruzelski, a partner at consultant Booz & Co.

The German Minister of Finance considers that the President of the European Commission "complicates the situation" by calling for increasing the capacity of the Relief Fund Eurozone.

The German Finance Minister Wolfgang Schäuble said Monday that the president of the European Commission Jose Manuel Barroso "complicated situation" with his calls for increased capacity of the Emergency Fund in the eurozone. "These proposals do not make isolated situation easier, but complicated," he has said on the radio Deutschlandfunk while the finance ministers of the euro area should discuss the matter Monday.

The German Finance Minister reiterated the position of Berlin, namely that it saw "absolutely no reason to discuss short-term" to increase assistance to countries in financial distress in the eurozone.While stating that he was not opposed to thinking "medium term" on a modification of the device. "There is no enlargement or increase but to ensure that the sum agreed in May is actually available," he said. The Fund currently has 440 billion euros in guarantees for states in the euro area, plus loans from the IMF and the EU to reach a total strike force of 750 billion euros. But because the collateral needed to obtain attractive loan conditions, the Fund can effectively raise about 250 billion euros.

The German government is reluctant to support a drastic increase in capacity of the Fund, for fear of upsetting public opinion while the team of Angela Merkel faces in the coming months a series of key regional elections.

JPMorgan Chase reported Friday a 47% increase in net income for the fourth quarter of 2010, thanks to lower loan losses.

The U.S. bank posted a profit of 4.8 billion, or $ 1.12 per share, against 3.3 billion ($ 0.74 per share) a year ago and an average forecast of analysts of a per share, according to Thomson Reuters I / B / E / S.

"While we still face challenges, there are signs of both stabilization and growth in the global capital markets and the U.S. economy," said JPMorgan CEO Jamie Damon.

The decrease in bad debt has led the bank to cut two billion dollars of its reserves for loan losses on its credit card division.

Net banking income (GNP) grew by 6% to $ 26.7 billion, where analysts expected 24.37 billion.

Action JP Morgan yielded 0.20 dollars to 44.25 dollars in pre-market exchanges.

"These results lead me to be optimistic to say that other major banks, Citigroup, Wells Fargo and Bank of America (…) even if these institutions remain under the threat of the record of mortgages," said Oliver Pursch , President at Gary Goldberg Financial Services.