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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.

The Nikkei gained 160.98 points to 8,801.40 and the Topix, broader, took 13.44 points (1.82%) to 752.02.

Over the whole week, accusing the two indices, however, a decrease of 2.8% and 2.5%.

The beginning of the week had led to panic after Prime Minister George Papandreou had overtaken everyone by announcing Monday he would submit the bailout of Greece to a referendum.

"We continue to be incurred by our original goal of an operating profit of four billion euros for the group, but given the market environment, we will not be able to reach next year" , said Friday Martin Blessing, CEO of Commerzbank.

In early trade on the Frankfurt Stock Exchange, the title of the bank fell by 5.53% to 1.656 euro while the index grouping the European banking stocks gained 0.61%.

Having already reduced its exposure to the most indebted countries in the euro area over 20% to 13 billion euros, a discount of 52% spent on the Greek securities, Commerzbank said it would continue to reduce its portfolios of sovereign debt issued by Portugal, Italy, Spain, Ireland and Greece.

The bank charged an operating loss of 855 million euros in the third quarter against a profit of 116 million a year ago and a Reuters consensus of 683 million euros.

The profits generated by the core business of Commerzbank – loans to medium-sized German companies – continued to be substantial, said the bank to 344 million euros.

The world leader in industrial gases reported 1.5 billion euros in investment decisions, with a target maintained over two billion over the year.

The group, which is German competitor Linde and Air Products and Praxair American, achieved third quarter sales of 3.597 million euros, up 4.9%, 6.6% in like.Over nine months, growth was 7.7% on a comparable basis.

The cluster gas and services, which provides the bulk of group sales, saw its growth slow to 7.7% in the third quarter on a comparable-a pace of 9.5% over nine months, largely due to an unfavorable base effect.

The division, however, also suffered a slowdown in demand for metals producers in Western Europe and Canada and the end of a rebound in the cycle of investment in equipment sales and installation of electronics, which returns to a level "more normal".

The stock closed Tuesday down 1.38% to 92.12 euros, in line with the CAC 40 index, giving a market capitalization of 26.14 billion. It was down 2.7% since the beginning of the year.

These remarks came as some voices in the G20 countries that the IMF to receive new funds to help Europe in particular.

Brazil is prepared to increase its contribution to the IMF, but he wants in return, emerging economies have more a say.

"Emerging markets may be asked to participate in the capitalization of the Fund (…) But for this they need to be more involved in managing the Fund, "said Dilma Rousseff at an event held in Porto Alegre in southern Brazil.

Last month, Brazil, combined with all other countries of BRIC – Russia, India, China and South Africa – had tried to coordinate support for the euro area.

Brazilian policy makers hope that the meeting of G20 finance ministers and central bankers held in Paris on Friday and Saturday leading to action.

The European Union will significantly tighten its budgetary discipline to learn from the debt crisis, following a vote Wednesday the European Parliament which provides for sanctions easier to take than in the past against states that allow spinning their deficits. This vote will allow the entry into force of a device to strengthen the European Stability Pact, discussed for nearly a year and already agreed by member states of the European Union.

In the future, financial sanctions will fall faster and easier, in the form of cash deposit in blocked accounts can be converted into fines against countries deemed to be lax. This mechanism is intended as the consideration for the implementation of the Financial Assistance Fund for countries in trouble in the euro area.Reform – called "6 Pack" because it's actually six pieces of legislation-was originally proposed by the European Commission to draw lessons from the debt crisis in Greece.

Reform had become necessary as the Stability Pact, as it was originally designed has proved largely ineffective as too little deterrent. Governments have spent their time in ten years around it. The reform will allow the Commission to seek remedies and even punish states that move away from deficit criteria (3% of GDP) and debt (60% of GDP) by claiming that the State would make the ignore the deposit of a sum equivalent to 0.2% of GDP. The six pieces of legislation received the support of conservatives and liberals.

The left has denounced reform too focused on rigor and not enough on the recovery.The reform "is good news for the EU", welcomed the President of the European Parliament Jerzy Buzek after the vote. "Reform is an austerity pact that is based on cuts and penalties. It leaves no flexibility to EU states for spending smart, targeted investments," he regretted the contrary, the socialist Stephen Hughes .

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.

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%.

Ministers Baroin (Economics) and Valérie Pécresse (Budget) will have to be Nicolas Sarkozy proposals to ensure compliance with the goals of deficit reduction that will be subject to "final decisions" on August 24, announced the Elysee Wednesday. At a meeting convened at the Elysee Palace, Sarkozy recalled that France's commitments on this issue "are intangible and will be required regardless of changing economic conditions."

Proposals requested from Mr.Baroin and Mrs. Pécresse to ensure compliance will be first reviewed by Nicolas Sarkozy and François Fillon August 17 and then the "final decisions will be made August 24" at a meeting between the four of them, the statement of the Presidency. The meeting on Wednesday, August 24 will take place after the Council of Ministers of the season, on the morning of that day.

"This will be the day of decisions, actions to achieve these objectives (public deficit, ed), regardless of the impact of global uncertainties, the announcement of the deterioration of the American note by Standard and Poor's (…) the volatility of markets, "said Baroin told reporters after the crisis meeting for which MM. Sarkozy and Fillon have interrupted their holidays.The French government has pledged to reduce its public deficit, which amounts to 5.7% of Gross Domestic Product (GDP) this year to 4.6% next year, and 3% in 2013.

Speaking of the objectives of reducing public deficits, he added, "the intangible that is what set the budget for the year 2011 (…) which is fixed under the law for triennial 2012 perspective, these are the objectives of deficits that will form the matrix of measures that we will have to make. "

Valérie Pécresse has in turn announced that tax loopholes would be eliminated, reaffirming the possibility of an "extra effort" to keep the financial commitment of France, in an interview on BFM TV. "We will remove tax loopholes (…) because we will not raise taxes," said budget minister without specifying what niches were covered.Niches, she said, are "tax exemptions sometimes justified" and "can be very inefficient." "We have already pledged to remove 3 billion euros in 2012 (…), tax loopholes for perhaps he will go the extra mile," added the minister.

By the way Nicolas Sarkozy again called the gathering "beyond party lines" in order to restore the balance of public finances, the statement said. An allusion to the refusal of the PS to vote the "golden rule" which the Head of State wishes to inclusion in the Constitution. For this he needs the votes of 3/5èmes Parliament meeting in Congress.