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BNP Paribas, whose 2011 accounts were affected by the provisions on Greece and the financial crisis, nevertheless reassured the markets on Wednesday the outlook for 2012 Aftern s have reported a good start to the year in investment banking.

Its CEO, Jean-Laurent Bonnafe, also said he expects this year to stabilize the crisis in the euro area and an economic slowdown in Europe, e cartant and the recession scenario chosen by some economists.

"We think there will be some sort of stabilizing the situation in the euro area," said Chief Executive of BNP Paribas in an interview with Reuters Insider. "There will be some kind of slowdown (economic, Ed) in Europe this year, but no recession."

Asked about the prospects for business in 2012, he reported a "strong" start to the year in investment banking.

Around 24:50, the BNP Paribas signs the largest increase in the CAC 40 up 6.62% to 35.73 euros, outperforming the European sector index (+2.5%). The action resumed nearly 18% since the beginning of the year, bringing the Group's market capitalization to 43 billion euros, after falling 36% in 2011 .

"The performance (of the CIB, ed) is clearly better than the average BFI European and American," said Alex Koagne, an analyst at Natixis Securities.

"In addition, the group was generally optimistic, indicating that the beginning of the year had been good in this business," he says.

"AHEAD" ON RECAPITALIZATION

Despite being down by 50% to 765 million euros in the fourth quarter, net income is superior to the expectations of analysts surveyed by the editor Reuters. 

The latter on average expected higher losses in the banking business and investment banking (CIB), the image of what came out of the results of Deutsche Bank.

"Despite a year marked by many non-recurring items (…), the bank shows a fair return while its solvency and liquidity position continue to strengthen, "said Pierre Chedeville, an analyst at CM-CIC Securities in a note.

BNP Paribas, which has decided to maintain a dividend, unlike SocGen and Credit Agricole, also estimated to have reached six months ahead with the objectives set for recapitalization by European regulators, with a capital ratio of 9.6% at end 2011. 

"They do not need to accelerate the process of 'deleveraging' (reducing balance, Ed)," Yohan holds Salleron, manager at Mandarine Gestion.

The French bank, who spent an additional charge of 639 million euros in its accounts for the last quarter of 2011 on government debt, reports that it has now reached 75% of its funding on the Gre ; this against 60% previously.

NEW DEVELOPMENT PLAN IN 2013

Its chief executive said to be confident that the group will not have to place new provisions on Greece, which is negotiating a new bailout with the International Monetary Fund The European Union, the European Central Bank and its private creditors. 

In BFI, where the bank has suffered for 510 million euros in losses on disposals of sovereign debt in Q4, the group table in 2012 on new charges outstanding € 850 million related to divestitures of assets and restructuring of its operations.

"The early years (2012, Ed) has been quite strong in investment banking", indicated Jean-Laurent Bonnafé.

Hired as many European banks in a plan to reduce stock and asset sales, the general manager of the BNP, however states that he "no plans" regarding a sale of its subsidiary American BancWest. He also rejects any sale of its land Klépierre which the bank holds 51% stake.

In terms of its refinancing needs, focus point on which investors concerned about the financial health of European banks, BNP announced that its issuance program in the medium and long-term amounts to 20 billion euros for 2012, five billion has been raised.

The new leadership of the bank, led since December by John Lawrence Bonnafé, present in 2013 a new development plan.

Al-Jazeera would be poised to strike (still) a great blow. She has acquired the TV rights for Euro 2012 would not count stop there. But what about the games of the France team? Players of the team celebrate their victory against Spain in Euro 2008 final against Germany.

The rumor is increasingly insistent. According Lepoint.fr, Al-Jazeera would have won the TV broadcasting rights of the Euro 2012 football against the duo of TF1 and M6. Interviewed by L'Expansion. Com, Uefa and the Qatari, however, refuse to confirm. Especially since the side of a large French chain, a source very close to the case provides that "nothing is done", and it remains "a third round of betting." Still, since Al Jazeera has gained a lot of the rights of the Champions League and Ligue 1, the rumor lends resources and unlimited ambitions. It is rumored in some newsrooms and this time she would put on the table between 100 to120 million for the next edition of the European championship. A sum again unconfirmed.

A "gift" to France Televisions?

Another victory for Al-Jazeera would not without asking the air broadcasting the matches of the team of France and the final. Qatari chain could therefore turn to organize a tender to determine the granting of this free program minimum. A chance for TF1 and M6 to limit the damage? Not so sure. According to Le Point, it would indeed be considered a "gift" to public service, which devalues ​​the rights. And to soften somewhat the "shock" due to the sensational debut of this new actor. Good image would indeed be surprising from a country that, since his arrival on the French market of football business, do research clearly not economic profitability in the short term.

In fact, the leaders of France Televisions have also met with Qatari counterparts, recognizes Bilalian Daniel, the head of sports department of public television. But "it was nothing to prepare for the Euro 2012. Just to stand as brothers," says he. As for a possible favor, he asserts that "it is absolutely anything. You can not sell off the rights like that, other chains might attack us for that."

The Europa League and Cfoot in addition to the Euro?

Anyway, the ambitions of Al-Jazeera will not stop the bidding for Euro 2012. Al-Jazeera is also still in the race to clinch the match of the Europa League where a third round of betting is also expected. She finally approached to buy back the rights of the League 2 along the chain Cfoot, owned by the Professional Football League (LFP). Because Al Jazeera has yet to find a channel to broadcast the matches she bought. Or just Cfoot must stop broadcasting on pay DTT in June … either at the beginning of the euro. Just a coincidence that some obervateurs to complete a recovery scenario …

The Education Minister Luc Chatel announced that from February 2012, teachers begin their careers at the minimum wage of 2000 euros gross. About 100 euros per month. Insufficient effort according to FSU. The Education Minister Luc Chatel

Beginning teachers will start their career with a salary in excess of 2000 euros gross in February 2012, which is a "symbolic" of crossed, said Thursday the Minister of Education, Luc Chatel. "The symbolic threshold of 2,000 euros early career will be taken from 1 February 2012," said the minister during a speech at the end of his visit to the Education Fair in Paris. Beginning teachers had already received a gesture of Mr. Chatel in March 2010, so compared to "1690 euros in 2007," the rise of their gross salary is "18% in five years," the Minister added.

European shares were down in early trade Friday, the pressure on interest rates fueling fears that some fragile countries in the euro zone no longer be able to refinance at an affordable cost.

At 9:03, Paris passed under the 3000 points and lost 0.83% to 2985.19 points.

At the same moent, London lost 0.95%, Frankfurt and Milan 0.83% 0.73%. The Euro Stoxx 50 index of the principal values ​​of the euro gave up 0.69%.

The Spanish 10-year rate rose above 7% (7.11%) and Italy's is 6.94% while the German Bund yield the same maturity is around 1.87% and that of the French OAT around 3.6%.

Alstom said on Friday plan to establish up to two production sites offshore wind in France if the consortium to which it belongs is held in satisfactory conditions at the end of the call for tenders launched in July by the government.

These two production of components and assembly of offshore wind turbines six megawatts – one in Saint-Nazaire (Loire-Atlantique) and one in Cherbourg (Manche) – could generate up to 1,000 direct jobs and 4,000 indirect jobs, the group argues in a statement.

The specialist in energy infrastructure and transport is part of a consortium of six companies led by EDF Energies Nouvelles, which also includes Dong Energy Nass & Wind Offshore, Offshore wpd Poweo and ENR.

Alstom is prepared to invest up to 100 million euros in these two sites "if the consortium is selected at a level that ensures a critical industrial scale."

The project, covering a total capacity of 3,000 megawatts (MW) in five areas, corresponding to half the target set by the government to install 6,000 MW offshore by 2020, equivalent to almost four times the power of a nuclear reactor EPR.

GDF Suez, together with Vinci and Areva, are part of a rival consortium.

Candidates have until January 11, 2012 to submit their bids. They will be screened in April 2012 and retained permanently in 2013.

The Director General of the World Trade Organization, Pascal Lamy, on Wednesday approved the holding of a referendum in Greece on the rescue plan passed by the Europeans. All the latest news. Greek Prime Minister George Papandreou announced the holding of a referendum in January in Greece, to check the public support for austerity plans adopted by the country.

9:56: "The Greek referendum can be won" according to Pascal Lamy.Interrogé France Inter on Wednesday morning, the Director General of the World Trade Organization has justified the holding of a referendum in Greece. On the one hand, it "is normal that the people decide." On the other hand, argues that it is not in "the interest of creditors dealer with a government" which may be weakened and not reversed its commitments. "Finally, he believes that" from what my friends tell me Greek, the referendum can be won.The Greeks are probably able to appreciate that this or something even worse. "He admits, however, that the collapse of the euro area is" not totally ruled out a possibility today. "

9:34: "China sincerely hopes the stability of the euro area and the euro," said Hu in an interview with Le Figaro on the eve of the opening in Cannes for a G20 summit, to be dominated by the issue of European sovereign debt. The Chinese president is silent, however, on specific measures that China could hang in helping Europe to solve this crisis, in particular its proposed participation in a relief fund for highly indebted countries.

French deputies have reduced by nearly 1, 5 billion to 80.321 billion, the deficit in the draft budget law for 2012 at the conclusion of the review, Monday, the first part, the revenue .

The deficit in the original was 81.772 billion euros.

MEPs will vote on Tuesday by a solemn vote of the whole of this first part of the finance bill that the Senate will consider in turn from 17 November.

The level of the deficit is likely to change again with the review by members of the review of the second part of the budget, the expenditure, then the entire text by Senators.

European authorities began Wednesday to prepare the banks of the continent to a possible failure of Greece.

For the first time since the crisis began, bank supervisors have decided to enhance their market sovereign debt held by banks in the EU as part of the recapitalization process in progress, officials said Wednesday European source.

The EBA, which will retain a definition of bank capital similar to that used in the last series of stress tests in July, will harden further 9% threshold due to equity "hard", reflecting the wishes of Paris and Berlin and by the European Commission on Wednesday in his "roadmap" to end the crisis.

"This is an exercise prudential.It is therefore logical that the ABE values ​​sovereign debt to market value or a value very close to that market, "said a source familiar with the discussions.

Regarding the definition of capital, "it corresponds to that used by the BEA in July.This is harder than the current one but is softer than that provided by the new Basel III standards, "the source said.

Once it receives the data that are currently provided by the banks, the EBA will prepare a proposed recapitalization of institutions of systemic Twenty-September for the meeting of EU finance ministers to be held October 21 , the day before the EU summit.

ROADMAP

This will be adopted simultaneously with the new bailout of Greece, which must reduce the debt of Athens so much greater than had been planned in July and then revise upward contribution "voluntary "the private sector.

According to several European sources, the losses that private investors must accept their obligations in the Greek part of the new plan should be between 30 and 50%, not 21% as expected.

Institute for International Finance (IIF), the discount would represent 39% when using the current market prices to assess the risk profile of the country

The roadmap of the Commission also calls on members of the euro area to complete without delay the ratification of the new European Financial Stability Fund (EFSF).

Last country to have to run, Slovakia will vote by Friday, officials said Wednesday following the agreement between three parties of the government resigned and the main opposition party.

The roadmap, which calls in line with discussions held at the EBA to a building "significant" capital requirements of banks, also advocates a recapitalization through private funds, which will be supplemented by funds public and by loans from the EFSF in case of negative response from the market.

France, who insisted behind the scenes for several days to use the EFSF as an instrument of coordination in the recapitalization of banks, said Wednesday it would not appeal.

"EURO BONDS"

The other two parts of the document from the Commission concerning the acceleration of measures currently being discussed in Brussels, but designed to boost European growth and most importantly, the implementation faster than expected European Stability Mechanism (MES).

The MES, which was to come into force on 1 July 2013, finally begin to operate on 1 July 2012 according to the wishes of the Commission. It includes a device that allows a country to default on its debt in an orderly manner.

"The roadmap traces the path to the exit of the economic crisis for Europe. The partial answers to the various aspects of the crisis are no longer sufficient.We need to take the lead, "said Commission President José Manuel Barroso to the European Parliament.

"We must reach an agreement at the EU summit of 23 October," he said, also urging the leaders of the euro area to release the next tranche of aid to Greece.

He also confirmed that the EU executive would present by the end of the year a proposal to create a framework for joint programming of debt between members of the euro area, also known as "Euro bonds."

Unemployment Gross of Germany continues to fall. He reached again in September, a record low at 6.6% of the workforce.

The gross rate of unemployment in Germany down again. The level reached in September has a new record low at 6.6%, ignoring the economic uncertainty and the crisis of the euro. The unemployment rate fell to gross 6.6% in September, as against 7% in July and August, which already marked its lowest level since the reunification of the country, according to figures released Thursday by the Employment Agency. Its level is the lowest for 20 years.

In data adjusted for seasonal values, the unemployment rate also fell to 6.9% against 7% a month earlier. This represents 26,000 fewer unemployed, where economists were expecting 10,000 less."The demand for labor remains strong," said the director of the Employment Agency, in a statement, and that while the situation in Germany, as in the euro area is marked by uncertainty .

Recent surveys of the financial community (ZEW) and entrepreneurs (Ifo) portend a slowdown in economic activity in the coming months. Already in the second quarter, the German economy had slowed sharply, with GDP rising by only 0.1%. Chancellor Angela Merkel, however, on a table growth "closer to 3% than 2.5%" this year, the official government forecast of 2.6%.

The Tokyo Stock Exchange ended Wednesday on a sharp decline, yielding 1.14% in a climate of anxiety about the continuing debt crisis of the Greek, which encouraged profit taking after Tuesday's rebound.

The Nikkei lost 97.98 points to 8518.57, a lowest level in two and a half years, and Topix, broader, sold 8.13 points (1.08%) to 741.69.

The highest exposure to Europe were particularly hard hit.Canon has lost 4.08% to 3,295 yen.

In early trading, some purchases on the cheap recently battered shares pushed the Nikkei up to 8671.24, but profit-taking quickly reversed the trend.

The values ​​of the video game industry, fell sharply Tuesday after a presentation judged disappointing by Nintendo, have recovered slightly.Square Enix has made 0.48% to 1,475 yen after losing 3.9% on Tuesday.

Also on the rise, Sharp has benefited from the announcement of an expected increase in sales in Indonesia to gain 3.3% to 595 yen.

Ricoh has instead plunged 1.67% to 648 yen after lowering its target price of 900 yen to 600 yen by Macquarie Securities, who expects weak demand for copiers in the second half of the fiscal year.