Hot Economic News Releases

The first Boeing 787 Dreamliner should be shipped in the first quarter of 2011 because of a delay in availability of engines, said Friday the aircraft manufacturer.

The delivery date for the Dreamliner has been delayed, as these engines are necessary to the ultimate test flights, will be available until the fall, said Boeing.

The U.S. group is working with Rolls-Royce for faster delivery.

Last month, Boeing announced that the first delivery of the aircraft could be delayed into the early weeks of 2011, due to a series of difficulties.

However, the group said on Friday that the new schedule would not impact on the group's financial forecasts.

The testing schedule of flights will actually preserved Boeing said.

ABN Amro, nationalized by the Netherlands at the height of the crisis, said Thursday that most of the charges related to the integration of Fortis Bank Nederland was behind her while reporting a half year loss of nearly one billion euros.

The bank warned in May it expected to massive losses for the first half of the year due to a very high volume of loads.

It launched in June a new warning, explaining that its losses would be higher still, because of additional charges that Fortis would go for legal reasons.

On Thursday, the number one Dutch asset management and retail banking from third countries, has not yielded much information on the reasons for these provisions, but said they were "connected with international activities conducted in the past. "

The state has spent more than 26 billion euros to buy ABN Amro and support, making this rescue one of the most expensive in the world.Its managing director Gerrit Zalm said it was unlikely that the taxpayer comes one day even.

The owner of the bank said on Thursday he expected that the integration of schools is finalized by the end of 2012 and the government should find a way out for the group between 2013 and 2015.

The CFO Jan van Rutte meanwhile estimated that the costs of integration were mostly gone.The operation, however, should lead the bank to pass a new charge of 400 million euros in the second half.

Current profit stood at 325 million euros during the first half, partly due to higher net income from interest, while the impairment of assets decreased by more than half.

ABN Amro, however, reported a net loss of 968 million euros, including a charge of integration of 481 million euros and 812 million loss on assets sold to Deutsche Bank under any injunctions European competition authorities.

She also had to spend 265 million euros in additional legal expenses.

List of key values to follow Monday on Wall Street.

CAMPBELL SOUP *

The group is considering a power supply of 1.5 billion pounds (2.3 billion dollars) on the activities of Britain's United Biscuits Cookies, reported the Sunday Times.

The U.S. group is not interested in the industry "snacks" of United Biscuits bought in 2006 by Blackstone and PAI Partners and that they intend to sell, according to information published by Reuters last month.

Closing price: 36.64 dollars.

* HEWLETT-PACKARD

* 3PAR

* DELL

Hewlett-Packard said Monday it proposed to acquire the data storage company 3PAR priced at $ 24 per share in cash, competing with the offer made last week by rival Dell.

The proposed HP is 33% larger supply of Dell, which accounted for at the time of its announcement a premium of 87% over the course of 3PAR.

The action of 3PAR blazing 37% in pre-market trade after the announcement of the offer from HP.The action of the computer group yielded 1.0%, however.

Closing Speaker: U.S. $ 39.85

Closing 3PAR: U.S. $ 18.04

Closing Dell: 12.07 dollars

* AMERICAN INTERNATIONAL GROUP

The U.S. Federal Reserve plans to reduce approximately 3.6 billion dollars (2.8 billion) credit line open to the insurer, which illustrates the growing confidence of the authorities in the group's ability to do without public support, Bloomberg reported, quoting an informed source project.

In addition, ILFC, the aircraft leasing subsidiary of the group, has paid nearly four billion dollars by the Fed after raising capital from private investors, officials said Sunday close to the matter.

Closing price: 35.17 dollars.

* 3M

The U.S. industrial conglomerate could spend about two billion dollars (1.6 billion) on acquisitions this year, twice more than its previous estimate, said Monday its chief executive in an interview with Reuters.

Closing price: U.S. $ 80.66

* AIR PRODUCTS AND CHEMICALS

The share of industrial gases group could grow by 20% within a year if its offer AIRG fails or if it ends at a price less than $ 70, says Barron's in its latest edition.

The offer values currently Airgas to 63.50 dollars per share.

Closing price: 75.01 dollars.

* WASHINGTON POST

After declining in recent weeks, triggered by concerns raised by its Kaplan education subsidiary, the title is outrageously cheap, says Barron's.

Closing price: 347.68 dollars.

The European Union announces it will appeal the conviction of the World Trade Organization (WTO) on subsidies provided to Airbus.

Airbus and Boeing accuse several years to receive public funding they deem illegitimate.

On 30 June, a panel of WTO experts found some illegal European subsidies provided to Airbus, a subsidiary of EADS, giving due in part to a U.S. complaint filed in 2004.

The appeal against this decision the EU will be filed before a special meeting of the Dispute Settlement Body of WTO, says a source close to the case.

The meeting, which started at 10:00, was convened at the request of the United States in the adoption of the June decision by the panel of experts, which would have forced the EU to end in 90 days to grant British, German and Spanish on the A380.

"This issue is too important to allow misinterpretations Group of Experts (DSB) without challenge," the EU trade commissioner Karel de Gucht, in a statement.

The call of the EU must be treated within 90 days, according to WTO rules.

In the day Wednesday, a lawyer for Boeing reported confidence in Boeing regarding this procedure.

"We are confident about the outcome of this appeal, as we were when the U.S. had opened the proceedings," said Robert Novick, a member of the firm WilmerHale.

"We are confident that the outcome of this appeal will be known by the end of the year."

A complaint against the European American aid mechanisms to Boeing would be decided on July 16, but the decision has been postponed to mid-September.

Louis Welsh, CEO of EADS, has held this postponement unfair.

Johnson & Johnson Tuesday reported a quarterly revenue well below expectations and has revised downward its forecast of annual profit for the second time in a year due to repeated withdrawals from the market painkiller Tylenol and other group of drugs available without prescription.

By mid-session on Wall Street, the title of group care products and U.S. health yielded 2.59% to 58.02 dollars while the Dow Jones, including Johnson & Johnson is, retreated from 0 84%.

The company said in the wake of its results have received a subpoena from the attorney general's office in Philadelphia as part of its withdrawal, without saying more.

For their part, the federal prosecutor's office did not confirm or comment on this procedure.

Johnson & Johnson said that global sales of its consumer goods were down 5.4% over the second quarter to 3.6 billion dollars.

The sales performance was mainly affected by the withdrawal, on April 30 last, a forty drugs used in the treatment of benign childhood diseases.

This decision was taken following a report showing that U.S. health authorities these products had been contaminated by dust and dirt during their manufacture in the factory of J & J in Fort Washington (Pennsylvania), finally closed end April.

The withdrawal of the products involved have cut sales of approximately $ 200 million, said Chief Financial Officer Dominic Caruso during a conference call, adding that closing the plant in Fort Washington is likely to weigh up 600 million dollars in annual sales.

The total turnover of Johnson & Johnson has also been weighed down by a slowdown in sales growth of its medical tools and diagnostic instruments.

The turnover stood at 15.33 billion dollars (0.6%) while analysts on average expected 15.64 billion, according to Thomson Reuters I / B / E / S.

Net income rose to 3.45 billion dollars (2.68 billion euros), or $ 1.23 per share against 3.21 billion ($ 1.15 per share) a year ago.

Excluding items, J & J posted earnings per share of $ 1.21, a level consistent with the average forecast of analysts.

The group has now said it expects earnings per share of between 4.65 and $ 4.75 throughout the year against a previous estimate of 4.80 to 4.90 dollars.

To explain this further revision downward, Johnson & Johnson raised the closure of the plant, which is currently undergoing a costly up to standard, and the pressure existing in Europe on the prices of its prescription drugs .

U.S. stocks finished higher on Thursday for the third consecutive session after the publication of employment data found reassuring.

The Dow Jones gained 1.2% or 120.71 points to 10,138.99 points, while the Standard & Poor's 500 took 9.98 or 0.94% points to 1070.25 points.

The Nasdaq Composite Index has advanced by 0.74% or 15.93 points to 2175.40 points.

The weekly claims for unemployment benefits fell 21,000 last week to the United States, more than expected, which has momentarily quieted concerns about a possible slowdown in U.S. economy.

Prices were also supported by the major U.S. retail chains that have posted good sales in the month of June JC Penney Co. and Abercrombie & Fitch were awarded 6.7% to 23.24% and 7.75 dollars to 35.45 dollars.

Costco Wholesale has gained 2.62% to 55.71 dollars. The number one warehouse stores reported an increase of 4% of its turnover store, which has been slightly below market expectations.

Side decreases, the values of semiconductors have been some profit taking.

"It is a context of nervousness.The investors are not eager to jump feet first into the market, "said Scott Marcouiller specialist at Wells Fargo shares Advisors in St. Louis.

Micron Technology has come a decline of 2.3% to $ 8.69. Index PHLX Semiconductor sold 0.1% after gaining over 5% Wednesday.

Apple has sold 0.2% to $ 258.09 and Intel 0.2% to 258.09 dollars also.

The Belgian bank insurer KBC sold its derivatives in Asia for about $ one billion, as part of restructuring promised in exchange for public assistance received during the crisis.

The buyer of Global Convertible Bond and Asian Equity Derivatives is Daiwa Capital Markets, the investment banking arm of Daiwa Securities of Japan.

The transaction will result in a strengthening of the capital of KBC and an increase of ten basis points from its Tier One ratio of liabilities to equity reported "hard".

The group, which received seven billion euros in state aid during the crisis, has agreed, in agreement with the European Commission to reduce its risky assets of 39 billion euros between 2008 and 2013, mainly by reducing its activities on financial markets and corporate lending internationally.

For its part, Daiwa seeks to develop its activities in Asia to take advantage of growth in the region after reducing its alliance in investment banking business with the Japanese bank Sumitomo Mitsui Financial Group.

KBC also said Monday it had sold to the Australian insurer QBE Insurance Secura its reinsurance subsidiary based in Brussels for 267 million euros.

QBE has made over 75 acquisitions over the last ten years to be present in 47 countries.

In May, KBC has raised 1.35 billion euros by selling its private banking arm KBL European Private Bankers to the Indian company Hinduja Group.

KBC closed the business in Japan in March. Analysts, traders and sellers of office of KBC in Tokyo have been committed by BNP Paribas.

The death of U.S. Sen. Robert Byrd could lead to a postponement until mid-July of the final adoption of the draft law reforming financial regulation in the United States, forcing the Democrats to seek further support.

The future of the bill now depends on the decision of a handful of senators after the death Monday of Robert Byrd, at the age of 92 years, denying the Democrats a voice in favor of the 60 needed to deprive Republicans delayed by a battle of adopting the text amendments.

The Democrats could expect that the governor of West Virginia named interim successor to Robert Byrd, but the appointment could take several weeks.

To ensure some additional support, the Democrats may have to change the text.

"If they need to review the bill and make concessions to secure additional votes (…), the text will emerge strengthened, not weakened," warns Barbara Roper, who heads an advocacy organization of consumers.

This bill, which President Barack Obama made one of his priorities, would launch a reform of financial regulation unprecedented since the 1930s.

The text aims to cut without a ban, the risky activities of banks, to establish a new process of liquidation for companies in financial difficulty, or to impose a tax credit on the largest financial groups, on larger groups to finance reform.

The House of Representatives should adopt the text Tuesday or Wednesday. But before being submitted to the presidential signature, originally scheduled on July 4, the text must also be approved by the Senate.However, due to the death of Robert Byrd, the Senate could defer their decision on July 12, after a week of leave, said a legislative assistant.

"We expect that this overhaul of banking legislation wins approval in U.S. House of Representatives, but the situation is complicated in the Senate," admits Brian Gardner, a political analyst for investment firm Keefe Bruyette & Woods.

THE MARKETS IN WAITING

If the vote of the law should dispel the uncertainties surrounding the bank stocks, the implementation of the text still has many question marks, analysts said Goldman Sachs.

Among outstanding issues is the appointments that the U.S. president should proceed, including the new head of the agency responsible for regulating mortgages, credit cards and other financial products.

Some clauses of the text should weigh on profits and growth of the largest banks, but have been relaxed during negotiations between representatives and senators, after a marathon negotiating session last 21 hours that ended Friday in the dawn.

For now, Democrats are thus seeking to support their cause some moderate Republicans like Olympia Snowe, and Senators Scott Brown, supported the text but rather reluctant to introduce a tax credit.

It aims to prevent the bill strikes the U.S. public finance more.However, according to the Congressional Budget Office, an independent monitoring and evaluation of public accounts, expenses related to the reform in ten years, estimated at $ 26.9 billion, should be offset by as much revenue.

The vote Democratic senators Russ Feingold and Maria Cantwell, who voted against it last month, claiming it was not sufficiently binding, should also be courted.

Russ Feingold, however, already assured Monday that he would not change his opinion. Maria Cantwell for studying the issue and it still has not yet decided, said a spokesman.

Christine Lagarde wants a "pause" in gas prices until January 1 next time an audit determines the relevance of the new method of calculation applied by the Regulatory Commission (CRE).

CRE authorized Thursday GDF Suez to raise gas tariffs from 1 July, after an initial increase of nearly 10% from 1 April. Higher rates for individuals oscillate between 2% and 4.7%.Since the start of the year, gas prices have increased by about 15% in France.

"I hope that the CRE do an audit of this formula because I'm quite surprised at the speed of execution and I wish that as a result of this audit, we determine if the formula is good," said Minister of the Economy Friday on France Inter.

"By then, I hope the prices remain unchanged, that is to say that until January 1, we make a full break in considering any further action until the audit results are not provided, "she added.

The CRE noted Thursday in a statement that his tariff had been an audit on which it will deliberate by September.

The CRE and GDF Suez justify rising gas prices by higher oil prices, which are indexed to gas prices and the weaker euro, which significantly increased imports of oil, sold in euros.

"The crisis is not behind us," explained Friday government spokesman Luc Chatel, RTL, noting that gas prices "have fallen by about 11% last year.

Areva announced an additional provision of around 400 million euros for the Finnish EPR OL3 because of new construction delays.

The Finnish power company TVO said in early June that the new-generation nuclear reactor would begin producing electricity until early 2013, is almost three and a half years later than originally planned.

Areva had recorded 2.3 billion euros of provisions before it announced Wednesday.The group's president and CEO Anne Lauvergeon had publicly described the level of "comfortable" in early March.

Because of the new provision announced Wednesday, the group said in a statement that its operating profit "should register loss in H1 2010.

The reactor Areva Finnish EPR is the first to have been initiated in Europe.

The French group has also reported that its talks with EDF on the conditions for stopping the Georges Besse enrichment plant in a Tricastin (Drôme) continued.

The dispute over the uranium enrichment plant is on the possible orders of EDF in 2011 and 2012, the last two years this site until the entry into service of the Georges Besse II site.

"Outside additional provision OL3 and potential impact of shut-down conditions of the Georges Besse plant 1, the group's operating margin should be around 4% in the first half of 2010, Areva said.

THE BACKLOG IN NET INCREASE

Net income group share the first six months of the year, however, incorporate the added value of 1.3 billion euros achieved in respect of sale of the Transmission and Distribution (T & D) tandem Alstom, Schneider and record as a "significant increase" compared to first half of 2009.

The group's backlog at June 30 for its part should reach over 43 billion euros, an increase of one billion a year and 500 million over the end of 2009, while sales of the first half will move forward "on the order of 2%" over the same period of 2009.

"For all of fiscal 2010, the Group confirms its expectation of a significant increase in backlog and revenues," said Areva.

"Operating income is expected to improve, before the provision, gains on dilution and possible impact of closure conditions of the Georges Besse 1. Finally, net income Group share up sharply compared to the fiscal 2009, particularly through the most gain on the sale of T & D. "