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The Japanese Panasonic announced Friday include a record annual net loss of almost eight billion euros for the 2011-2012 fiscal year, due largely to the decline in demand for TV sets in a highly competitive environment.

For the year ending in late March, the maker of consumer electronics forecasts a deficit of 780 billion yen (7.8 billion euros). The market was expecting before the revised forecast a deficit of 470 billion yen, according to ThomsonReuters I / B / E / S.

Rival Sony said Thursday expect an annual loss of 220 billion yen (2.2 billion euros), almost twice more than expected by the market, highlighting the extent of tâ ; che the new boss of the group, Kazuo Hirai.

For the quarter October-December, the third year, the net loss of Panasonic amounts to 197.6 billion yen. The market was expecting a net loss of 8.4 billion yen.

The action Panasonic has dropped by 45% over the last 12 months. Thursday, she finished her read down for over 30 years.

Christian Noyer, Governor of the Banque de France (BDF) and member of the Governing Council of the European Central Bank (ECB), said Wednesday he did not hold to the basic scenario of an economic recession for France.

At a press conference in Singapore, he added that the fiscal measures taken by France were sufficient and the exposure of French banks to Greece quite manageable.

At the euro area, Christian Noyer said that the level of sovereign bond yields did not reflect reality, the day after an auction of Italian bonds where yields reached nearly 8%.

Inflation in the euro zone will return to the objective of the ECB in the next few months, also said the board member of the institution in Frankfurt, adding that all that was necessary would be done to avoid deflation or fight against inflation.

During the Franco-German summit in Strasbourg, Angela Merkel has made the ECB does not undertake more to calm soaring interest rates, preferring a stronger fiscal discipline to the States. But it is not safe for the German economy … Chancellor Angela Merkel in Berlin.

Markets continue to worry for Europe. The Paris Stock Exchange (-0.18%), Frankfurt (-0.54%) and London (-0.24%) have once again closed in the red on Thursday night. Investors were disappointed by the Franco-Germano-Italian held in Strasbourg, and has not provided an answer to soaring interest rates of the states of the euro area. Italian and rates again exceeded 7% in late afternoon.At this summit, Angela Merkel and Nicolas Sarkozy said they would do "proposals to improve the governance of the euro", refusing however to include a reform of the European Central Bank to establish as lender of last resort and thus relieve the rates. It was the wish of the French president, but Angela Merkel is always hostile. She prefers to impose a priority in budget control by Brussels that would oblige member states to return quickly to the nails of the Stability Pact. But this strategy is not without risk for Germany itself, as shown by recent events.

Interest rates on the rise

This is not a fire, but heat stroke has occurred. The rates at which to finance Germany jumped to 2.26% on Thursday, the highest since late August after a failed fundraising in the bond market Wednesday.

The European debt crisis continues to take its toll on both European and U.S. stock markets, the risk of contagion to the entire euro area, resulting in a rise in bond yields to unsustainable levels and that affects more only countries known as "devices".

"The market remains concerned about the implementation of these measures (austerity and anti-crisis), which are not detailed enough to be credible," said Emmanuel Cau, strategist at JPMorgan Cazenove,.

In Paris the CAC-40 ended on a loss of 1.78% to 3,010.29, surpassing those of his peers.

The Greeks were again gathered in their thousands on Thursday to protest against government austerity measures. Overflows have marred the parades and a man died of heart attack. Demonstration in Greece, Athens, Syntagma Square, October 19, 2011.

The mass protests against new austerity measures continued Thursday in Greece for the second day, weakening the government of Socialist George Papandreou at the approach of a summit "crucial" in Brussels Sunday for the country and the euro area.

In Athens, more than 50,000 people participated in the movement, against 70,000 on Wednesday. Throughout the day, the unit staff, private sector employees prevailed. Thus Vanguélis Bouldadakis, in a public hospital doctor put forward "the destruction of the collective agreements" that "reduce our salaries" and "take our rights."The center of Athens was again sealed off to traffic, Parliament surrounded by dozens of vans of riot police and thousands of police.

Clashes marred the protest near the parliament. Fighting hand to hand and shots of lumber and iron protesters opposed to law enforcement. The latter, usually very active in the protests in Greece, had retired to the adjacent streets, sending only a few grenades and tear gas to try to disperse the crowd preventively.

A few sporadic incidents continued in the early evening around the Parliament and even in the tourist district of Monastiraki.Mobile groups of several dozen young people were harassing the police were carrying out acts of vandalism, burning trash, throwing molotov and stoning shop windows and street furniture.

Central to the dispute: a bill to be voted in Parliament to reduce the deficit abyss of the country and it avoid bankruptcy. Its adoption would freeze collective agreements and lead to a sudden drop in living standards of the Greeks, especially civil servants

These events have caused the death of a man. This woman had been transferred to hospital after violent incidents, died of a heart attack, said the hospital management. He "did no injury," Contrary to the media said, the hospital said in a statement. Justice has opened an investigation and sent an attorney for prosecution.The media for their part said that Mason had been hit by stones in the head on the sidelines of violent clashes between protesters and a group of communist troublemakers. The announcement of the death had raised strong emotions in Parliament, where MPs were to adopt in the evening a new law rigorously.

European officials plan to establish a flow of funds for a mutual fund (SPV, special purpose vehicle) that would issue bonds and buy the European sovereign debt, CNBC reported Monday, quoting a European financial responsibility.

The American chain adds that the fund would be created by the European Investment Bank (EIB) and the obligations could also serve as collateral for the European Central Bank (ECB).

"Our feeling is that the project to leverage the EFSF (European Financial Stability Fund) is well underway," said CNBC, adding that it was perhaps not the only project under discussion to address the crisis of debt sovereign in the euro area.

Wall Street has increased its earnings this announcement and the Dow and the S & P 500 ended in gains well in excess of 2%.

No one was immediately available to the EIB.

Another European official, who participates in discussions to find ways to resolve the crisis, found that information "bizarre".

"Frankly, what evokes the EIB is just weird, it's not at all what we are talking," said the official told Reuters.

"We are discussing with the EIB to increase its capacity but only for loans for projects," he added, referring to bonds to finance major infrastructure projects of the European Union.

Axa has launched the sale of its private equity, an assignment following the withdrawal of almost general banking and insurance sector made a not very attractive for future Solvency II prudential standards.

Two sources familiar with the matter told Reuters on Friday that the bank Credit Suisse had been mandated to look after the sale that occurs in the middle of financial turmoil.

"It's like any new process," said one of them, noting that the figure of one billion sterling raised in the morning by the British news channel SkyNews seemed high.

Many financial institutions are now trying to strengthen their balance sheets in order to reassure the markets and prove they can cope with the debt crisis in the euro area.

"It's not their core business or strategic asset," said one London analyst, who is likely Axa uses the proceeds from this sale to strengthen its capital rather than make acquisitions.

The impact of this withdrawal should be limited, because private equity is not an activity that consumes a lot of capital.

Management companies such as Axa Private Equity investing in unlisted companies for several years but do not with their own capital.They invest on behalf of institutional investors or wealthy families.

But even if Axa does not change his deep financial profile of the transaction, the sale could help convince its shareholders of its determination to go after refocusing.While the future of the subsidiary was never considered a major issue.

Reconquest

Axa has launched an operation in June "conquest" with its investors with the presentation of a strategic plan in 2015 whereby it has redeployed some of its capital to emerging markets and reduce its costs in mature markets.

The title Axa lost 33% since the beginning of the year, while the European sector index limit its losses to 27%.

Axa declined to comment on Friday to become its subsidiary AXA Private Equity which manages $ 28 billion in assets and was one of the most dynamic in its sector in France this year.

In particular, it acquired in May in tandem with Clayton, Dubilier & Rice (CD & R) and the Deposit Quebec electrical engineering group Spie for 2.1 billion euros.

Axa PE also announced the acquisition in August at HSH Nordbank

the bulk of a portfolio of 620 million euros, having already completed in June the acquisition of a portfolio of Citigroup for $ 1.7 billion (1.17 billion euros) and another Barclays for 740 million dollars.

Main engine of recovery of M & A in 2011, private equity, however, shows signs of weakness in France.

The closing of the market "high yield", these high-yield bonds that fund LBOs (financial arrangements based on significant debt leverage) points to a new lean times for the sector.

The number of jobseekers in France rose by 36,100 in July, the largest monthly increase in two years. The trend of 2011 is back up. Since the crisis in 2008, the situation of the labor market in France is particularly depressing.

Xavier Bertrand had prepared the ground. The news is, however, the effect of a cold shower: the number of jobseekers in Class A rose by a further 1.3% in July on the rise year on year to 2.8%. A bad result that erases completely stabilize the labor market seen earlier this year. Worse, when you take a step back, the situation of the labor market in France since the crisis began in early 2008 seems particularly depressed.Review detailed figures of black unemployment.

33%: This is the increase since January 2008 the number of registered unemployed persons in categories A, B, C, that is to say job seekers must be positive acts of job search. In nearly four years, this category has swelled from just over one million people.

57%: This is the rise in unemployment for more than 50 years since January 2008. While the youth unemployment is a wound in France. But it is the elderly who have suffered most from the deterioration of the labor market and plans of downsizing in companies.

453 days: This is the average length of job seekers registered at employment center. In January 2008 it was 412 days. The long-term unemployment (more than one year of enrollment) affects 38% of registered voters, against 32% four years ago.The number of registered unemployed for over two years increased by nearly 27% over the last twelve months.

Only 21% of output for Occupation Pole of the unemployed who found a job. An extremely low which demonstrates the low dynamism of recruitment. Radiation administrative account for 10% of outputs at Pole Occupation: they jumped from just over 7% in one year.

16%: This is the decline since January 2008 the number of sustainable jobs (that is to say, longer than 6 months) received Pole Employment. The precariousness of the job market is growing again. In one year, the proposed job "casual" (lasting less than one month) rose 4.7%.

Toyota Motor and Ford announced Monday they plan to jointly develop trucks and SUV hybrid, running on gasoline and electricity, to the market by the end of the decade.

Ford and Toyota want to collaborate on the development of hybrid vehicles and energy efficient, but also embedded telephony, Internet and entertainment.

Seal a final agreement this collaboration is to be concluded during 2012.

Toyota is the world leader in hybrid vehicles with 3.3 million units sold since launching the Prius in 1997. The vans of Ford's F-series are for their best selling in the U.S. market since the 1970s.

Bulgari, being acquired by LVMH the French, reported Monday a net profit in the first half and confirmed the offer price of the French group.

The Italian jeweler posted a net profit of 9.1 million euros against a loss of 7.7 million in the first half of 2010.

Turnover appears to 548 million euros, up 23.3% at constant exchange rates.

Bulgari said that its board of directors has confirmed the fairness of the price of 12.25 euros per share offered by Bulgari

LVMH.

According to a report Sunday, the Italian stock market is considering a complaint from an investment fund over the price offered by LVMH.