US & World News

JCDecaux has significantly exceeded expectations in the third quarter, posting a sales growth almost twice the stated goal, boosted by its transport division and the dynamism of France.

World number one outdoor advertising company in front of the U.S. Clear Channel Outdoor, has for the first time provided a forecast for the full year, saying rely on organic growth of about 5% of its turnover .

"The current economic uncertainties lead us to be cautious," said Chief Executive and Co-CEO Jean-Francois Decaux, in a statement, while the group's growth stood at 6.7% in the first nine months of the year .

Wall Street finished sharply lower Monday, the initial enthusiasm born of the EU summit last week's fading from investors who question now no longer on how to resolve the debt crisis in the euro area but their use.

Still Wall Street has done its best month since 1991 and many analysts believe that the worst case scenario is ruled out at this time in Europe, the stock market is ripe for a further rise, investors are turning their attention to Chinese statistics and the U.S. better than expected.

The values ​​of natural resources have suffered from the fact that the dollar reached a peak three months against the yen as a result of intervention by the Bank of Japan to roll back the domestic currency.The Nasdaq Composite yield 52.74 points (1.93%) to 2684.41.

Of the month, the Dow shows a gain of 9.5%, the S & P by 10.8% and the Nasdaq 11.1%.

The new concerns generated by the European debt situation are what feed the bankrupt broker MF Global Holdings derivatives, an event that affected financial stocks in particular.

The latter, who had engaged in heavy positions on European sovereign debt, filed for bankruptcy after the breakdown of negotiations to sell assets to Interactive Brokers Group.

MF Global transactions have been suspended. Interactive Brokers has closed up 1.05%.

Values, the S & P Natural Resources lost 4.2%.

Peter Brabeck-Letmathe, the chairman of Nestlé, is sounding the alarm over soaring food prices. It could mean new revolts in poor countries. An Indonesian dried corn grows, without benefit of the inflation of commodity prices. Indonesia is now the largest importer of maize. REUTERS / Sigit Pamungkas (INDONESIA – Tags: BUSINESS FOOD) AGRICULTURE)

The food prices are expected to remain high, which could lead to new hunger riots in developing countries, said President of the Swiss group Nestle in an interview published Friday.

"We have reached a level of food prices substantially higher than we had before. They are expected to stabilize at this level," said Peter Brabeck-Letmathe in this interview with the daily Salzburger Nachrichten.

"When you live in a developing country and we spend 80% of its income on food, we feel bound to it differently from us," where such expenses are around 8%, he argued.

For him, new hunger riots like those that had rocked Africa, Haiti or Indonesia in 2008 are likely to recur. "The situation is similar, it has become the new reality," he said.

Soaring food prices this year is considered one of the reasons that contributed to the "Arab Spring" in North Africa and the Middle East.

The price increase is attributed both to speculation, climate change, increasing population, or to changes in dietary habits in some emerging countries like India, where the middle classes have significantly increased their consumption meat.

For M.Brabeck-Letmathe, the issue of water is also crucial. "We already consume today" too much water, he said, encouraging businesses and consumers to waste less.

Italian energy company Acea said Wednesday its intention to take legal action against EDF regarding the acquisition by the French in 2005, through its affiliate Edison, a majority stake in Edipower.

Acea believes that EDF has acquired illegally participation in conjunction with Aem Milano, now part of the company A2A.

Kweku Adoboli was detained after appearing in court on Thursday. He is responsible for the loss of $ 2.3 billion by UBS. Kweku Adoboli in London.

Kweku Adoboli, the trader accused UBS of fraud that cost $ 2.3 billion in the bank, was detained, following his appearance before a London court Thursday. The boy will remain jailed at least until his next hearing on October 20, announced the judge.

One of the counts added was retained by the court in this case for a fraud committed between October 2008 and December 2010. "He is sorry for what happened, beyond what it can express," said his lawyer, Patrick Gibbs. "He went to the people of UBS and told them what he had done. It is now appalled by the magnitude of the consequences of his disastrous miscalculation," he added.

The trader, 31, who appeared Thursday in dark gray suit and blue tie, is suspected of fraudulent transactions within UBS. He was charged and detained last Friday in London. His lawyer did not indicate whether he intended to plead guilty at this point. The gendarmes of financial markets in Switzerland and the UK have also launched independent investigations into the circumstances of the losses incurred by UBS.

The perspective attached to the sovereign rating of the United States could be raised to stable if the bipartisan agreement on reducing the U.S. deficit is being implemented and if the tax cuts of the Bush era are eliminated, said Monday director of sovereign ratings Standard & Poor's.

In an interview with Reuters Insider, David Beers warned that the rating agency would closely monitor whether the U.S. Congress is at what he has committed.

S & P on Friday denied the United States of the note "triple A", giving them now rated AA + coupled with a negative outlook.

David Beers reiterated that there was at least one in three chance that the U.S. sovereign rating is lowered again within 6 to 24 months.

Ford reported Tuesday a better than expected for the second quarter.

Excluding items, earnings per share amounted to 65 cents against 68 cents a year ago. Analysts on average had forecast on this basis EPS of 60 cents, according to the consensus established by Thomson Reuters I / B / E / S.

In pre-market action is gaining 3.6% to 13.65 dollars.

Turnover was up 13% to $ 35.5 billion.The total net profit stood at 2.4 billion, or 59 cents a share, against 201 million in the second quarter 2010 (61 cents per share).

Now Ford shows eight consecutive quarters after accusing recipients of $ 30 billion in cumulative losses from 2006 to 2008, during which time the manufacturer had reduced its workforce, sold unprofitable brands and revamped its line overloaded and other large 4×4 pick- up.

Paris Plages is investing in one month the banks of the Seine, as of July 21. For its 10th edition, the Paris event was put on the excess. Key figures in the images.ate "> 9 / 13

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Wall Street opened up Thursday after the publication of figures much better than expected on the employment front.

In early trade, the Dow Jones gained 0.56% to 12,696.48 points, the Standard & Poor's 500 progressed from 0.84% ​​to 1350.51 points while the Nasdaq Composite advanced 0.81% to 2856.95 points

According to the monthly survey released Thursday ADP, 157,000 jobs were created in the U.S. private sector in June, while economists polled by Reuters had expected only 68,000.

The weekly jobless claims have on the other hand decreased by 14,000 last week to the United States, far more than expected.

Values, NYSE Euronext took 2.27% in the wake of its shareholders vote in favor of the merger with the exchange operator Deutsche Börse.

Amazon progressed by 1.25%, surpassing Apple up 1.12% after a U.S. judge dismissed the Apple brand, which wanted to prevent Amazon.com from using the name "App Store".

Nicolas Sarkozy confirmed on Monday the outline of a French plan foresees the participation of European banks and insurance companies to resolve the crisis in Greece, which has not yet been approved by the partners of France.

A meeting on modalities for private sector participation to a new rescue plan for Greece was held Monday morning in Rome between representatives of the banking lobby Institute of International Finance (IIF) and the Economic and Financial Committee of the euro area without reaching agreement.

French President confirmed that private creditors would exchange their debt against the Greek 30-year bonds at rates equivalent to those of European support loans, issued at a premium indexed to economic growth in Greece.

He hoped that the European partners of France accepted the plan but was willing to change to get their agreement.

"We have concluded that spreading the loan over a period of 30 years, putting them in European loans, plus a premium indexation on what will be the growth of Greece, there was a system that each country could probably find interesting, "he said at a news conference.

"So the project that we have, we put it in the debate as something we hope positive, we are ready to amend it, too, the French project is not the alpha and omega", has he said.

The leaders of the euro area are seeking how to involve the private sector in a second aid package to Greece without this lead rating agencies to estimate that the country is in default.

The European Union and the International Monetary Fund warned that they would pay the fifth installment of a $ 12 billion, the plan developed in 2010 to help save Greece from bankruptcy, if latter did not take further austerity measures by July 3.

The Greek Parliament began debating Monday of these measures and must decide Wednesday on the overall framework of the austerity plan and Thursday on specific steps to its implementation.

"HAIR CUT Mask"

In anticipation of a possible European agreement on the participation of the private sector, the scheme outlined by the Treasury and the French financial institutions provides that private creditors are willing to reinvest 70% of the Greek repayment of loans maturing in new obligations.

Half of the securities held by private creditors would be reinvested in Greek bonds to 30 years.

Some 20% would be reinvested in securities backed by the European Financial Stability Fund (FSEF), created in 2010 to assist countries in the Eurozone in trouble (Greece, Ireland, Portugal).

"From what has filtered at this stage, it would be a 'hair cut' hidden on 50% of the amounts held by private banks," said one credit strategist a French bank.

For the rest, 20% would be reinvested in securities issued by the EFSF, which in turn lend the funds to Greece, he adds, this part of the "rollover" benefiting from "AAA" rating of EFSF and therefore a security.

Gilles Moec, an economist at Deutsche Bank, sees two possible logic behind the proposal provides that 20% refund will be deposited into a "guarantee fund" that would invest in the EFSF and MSE (European Stability Mechanism).

"The EFSF / MSE would act as an intermediary 'between investors and Greece by granting it loans backing the bonds purchased in the' rollover '," he said, adding, as the strategist, it protects Creditors of a default risk.

The economist added that in the latter case, the "guarantee fund" could play firefighters in case of default on the new 30-year Greek bonds and cover any "hair cut" 40% of these securities.

"However, in this second case, the final risk continue to be carried by the private sector," he wrote in a note.

"As it stands, the French plan does not lead to" an ordered default "of Greece. In fact, 20% of repayments in 2012/2013 to cover approximately 20 billion euros, while the total government debt amounted to 328 billion euros at the end of last year, "said Gilles Moec.