Top Economics News

The second Japanese bank, Mizuho Financial, reported Tuesday a fall of 80% of its net quarterly profit, mainly due to a decline in the value of his stock portfolio. </ p> Net income for the quarter October to December fell to 16.3 billion yen (162 million euros), against 80.3 billion yen in October and ; December 2010, according to Reuters calculations based on the results of nine months. </ p> Nikkei index falling by over 13% between April and ; December, banks have had to spend significant provisions on the value of its shares in listed companies. </ p> The results are also affected by a charge related to a change in tax law.</ P> For the year, Mizuho maintains its net profit forecast to 460 billion yen, up 11% over the period 2010-2011 while the market expects 427 billion yen, according to the consensus Thomson Reuters I / B / E / S. </ p> The first Japanese bank, Mitsubishi UFJ Financial, is to publish its results on Wednesday. </ p > <p> third Japanese bank Sumitomo Mitsui Financial Group (SMFG) said Monday net income stagnant under its third quarter. </ p> Action Mizuho has gained 17% since its low point of eight years moved in November, while the Nikkei index gained 8% at the same time. Mitsubishi UFJ Financial Group (MUFG) is up 10% and 20% of SMFG. </ P>

If you have bad credit, you may have problems getting a loan from these places, or they may charge you such a high rate of interest it is not worth it. Instead, consider your other options, such as a cash loan from a payday loan company.

Equity markets have appeared hesitant and versatile throughout the session. The European equity markets ended in a disorganized, while at the same time, Wall Street also hesitated between increases and decreases.

Investors have welcomed the drop in bond yields Italian and Spanish through purchases of securities by the European Central Bank in the secondary market.

Traders also mention the idea that the ECB would lend the International Monetary Fund (IMF) to assist countries in the euro area.

But operators remain skeptical, however.

Over the past twelve months, the transactions made by Greeks reached some 250 million pounds. They seek to place their assets ç outside the country and the euro area. The London property market is relatively stable and offers a return on investment

They lag far behind Gulf investors or Russia, but the Greeks buy more properties in London, considering the British capital as a sanctuary for their fortunes away from the turmoil of the crisis that undermines their pays.Alors the Athens can abandon the single currency has been openly discussed by European leaders, some Greek citizens believe evidence that leaving their assets to their homes is far too risky, and struggle to get them out of the euro area.

London, where the real estate market is relatively stable and offers a return on investment, seems like a good alternative, according to industry experts. "The Greeks have long been on the market in central London, but after eighteen months, the number is increasing," says Liam Bailey of Knight Frank real estate agency specializing in luxury homes.

The Greeks represent 1.5% of the market

This interest was further increased in recent weeks with the deepening of the Greek crisis, confirms Richard Barber, who works at the WA Ellis agency, which specializes in upscale neighborhoods of Chelsea and Knightsbridge. "They prefer to put their money into real estate rather than first class in Greek bonds. The property market in London has a reputation as a sanctuary." The phenomenon is still embryonic.

The British authorities to fight against fraud are currently reviewing certain transactions by Deutsche Bank and Goldman Sachs, the Financial Times reported Monday.

The daily said that the investigation is part of a collection of evidence to determine whether certain financial institutions have fraudulently presented some financial stocks to their customers and counterparties is misleading.

The Serious Fraud Office (SFO) UK has spent the last two years to focus on sales of bonds backed by home loans (ABS) and their possible role in the financial crisis of 2008-2009.

Monday, fifteen minutes after the opening, the action Deutsche Bank lost 5.5% to 24.59 euros.The European sector index banks lost 3.31% to him, in reaction to the fact that the U.S. federal agency oversight of mortgage loans (Federal Housing Finance Agency, or FHFA) filed a complaint Friday against 17 major financial institutions for losses relating to bonds linked to subprime.

Deutsche Bank is already covered since Friday by a complaint from the U.S. federal agency oversight of mortgage (FHFA), which accuses 17 major international financial institutions for a total loss of $ 41 billion in bonds linked to subprime These loans granted without regard to the resources of borrowers.

Goldman Sachs, Bank of America, JP Morgan Chase or Societe Generale are among the other banks involved.

According to the FT, the British SFO also examines transactions Goldman Sachs, which said the file Timberwolf, an ABS fitted by the bank in 2007 and that U.S. authorities are also interested.

The SFO has not yet opened a formal investigation but has appealed for witnesses.

Neither Deutsche Bank nor Goldman Sachs were not immediately available for comment on the report.

Italy must complete structural reforms and implement the commitment made last month to reduce the deficit and make the economy more flexible, wants the President of the European Central Bank Jean-Claude Trichet.

In an interview published Friday by the financial daily Il Sole 24 Ore, the chairman of the ECB considers that the measures announced in Rome on August 5 is "extremely important".

Council President Silvio Berlusconi had promised then to bring the Italian budget balance for 2013.

"It is therefore essential that the stated objectives for the improvement of public finances are fully confirmed and implemented," said Jean-Claude Trichet.

The latter made no direct comment on the economic plan of 45.5 billion currently being debated in the Italian Parliament, merely to emphasize the importance of Rome to implement measures enhancing the entire national capacity in the medium and long term.

He however reiterated his call to the governments of the euro area to address the weaknesses of their economies and strengthen mutual surveillance and governance.

"The European states must correct the current situation," he said.

Asked about the prospects for creation of Euro-bonds common to all countries of the monetary union, he said that the European Financial Stability Fund (EFSF) already issued securities backed by the European authorities.

"The key message of the Board of Governors is a call for rapid implementation, full of decisions taken by Heads of State and Government of Europe July 21," said the president of the ECB.

Wall Street opened lower Friday, as hinted at future developments, in anticipation of a highly anticipated speech of Ben Bernanke.

The Fed chief must speak at 14:00 GMT (16:00 in Paris) in Jackson Hole (Wyoming), as part of the 35th annual economic symposium of central banks. It is likely that he will announce gradual steps, not an ambitious new plan to repurchase shares.

A statistic of GDP lower than expected can also affect early trade.

The U.S. economy in the second quarter growth initially announced lower, weighed down by business inventories and exports despite the upward revision to consumer spending.

The Dow Jones lost 0.6% to 11,083.07.The S & P 500 0.58% 0 C7DE 1152.60. The Nasdaq Composite drops 0.26% to 2413.29.

Transactions could also be disrupted by the arrival of Hurricane Irene, which is sweeping the East Coast Friday the United States and should be on its way over 50 million people and numerous cities.

Steve Jobs, Apple's iconic chief, resigned from his position as general manager, said Wednesday night the Apple brand.

On sick leave since January, Steve Jobs has been appointed Chairman of the Board of Directors of Apple and Tim Cook replaces the position of CEO.

"I always said if I ever came to not being able to perform my duties and obligations as CEO of Apple, I'd be the first to let you know. Unfortunately, that day has come" he wrote in his letter of resignation.

For many analysts, the resignation of Steve Jobs, predictable long-standing, should not prevent the group from Cupertino to continue on the path he laid out, marked by timed out.A new iPhone could also be marketed in September and the third version of the iPad tablet in 2012.

"I would say to investors not to panic and stay calm. Is the right thing to do. Steve Cook is president and CEO," responded Colin Gillis, an analyst at BGC Financial.

At 56, Steve Jobs has survived pancreatic cancer and was on sick leave since Jan. 17.

He was briefly interrupted in March when, emaciated, he came to present the new version of the tablet from Apple, the iPad.Steve Jobs was then photographed at a meal with President Barack Obama.

Since sick leave, Tim Cook held the position of CEO on an interim basis.

Steve Jobs spent all day Wednesday at the headquarters of his company in Silicon Valley, officials said a source close to Apple.

He met with the board and his closest collaborators and intends to play an active role in his new role, they added.

"Investors are very comfortable with Tim Cook, even if Jobs was the engine of innovation.Tim has shown that Apple could totally outperform when he was CEO of Apple, "said Shannon Cross, analyst at Cross Research.

Trading in Apple stock was suspended in electronic transactions. By 2300 GMT, it was indicated down 7%.

Preferred placement of French, has seen its Livret A collection rise sharply in July before raising his salary and in a context of concern related to the debt crisis, show figures released Tuesday by the Deposit and Consignment Office.

The collection of this tax-free booklet, identified more than 60 million copies by the end of 2010 the Bank of France, reached 2.07 billion euros last month, the highest figure for 11 months.

Its total assets has reached 207.5 billion euros.

The Handbook of Sustainable Development (LDD, former Codevi) has meanwhile seen its cash flows turn positive again, to 0.28 billion, after two months of outflows.

The pay rate of the Livret A is passed on 1 August from 2.0% to 2.25% under the rules in force since 1986 which provide an adjustment for changes in money market rates and inflation .

The previous increase, already a quarter of a point on February 1, had boosted the collection in January and February.

With these increases in pay, which keep it above the level of inflation, combined with the trend, observed since the 2008 crisis, friendly and non-risk liquid investments, including at the expense life insurance.

The Livret A have increased by 12.14 billion euros since the beginning of this year, an increase that exceeds already seven months, that of the whole of 2010 (10.1 billion). The collection of life insurance has decreased by 11% along the first half, to 69.3 billion euros, according to statistics from the French Federation of Insurance Companies (FFSA).

The opening Tuesday in Moscow MAKS air show and aerospace will be an opportunity for Russia to present its larger ambitions in the area, and perhaps to become the first customer of its own event.

Prime Minister Vladimir Putin is scheduled to visit Wednesday to the show, held every other year, which will be particularly marked by the first public flights of the Russian fifth generation fighter, the T-50.

Manufacturers of public civil and military aircraft should also take this opportunity to unveil new orders as well as partnerships with industry giants such as Boeing.

Last month, President Dmitry Medvedev had a blow to the domestic industry by announcing the armed forces that they can now also buy weapons outside Russia.

Analysts said this trend could lead to new large acquisitions comparable to the purchase from France of two helicopter carrier Mistral class.

"Russia is seeking to strengthen its arms industry with new technologies.It seeks abroad, which could mean that Russia will buy more than it sold during the show, "said Ruslan Pukhov, director of research firm CAST Moscow.

HUNTERS, AND CIVIL AIRCRAFT HELICOPTERS

The news agency reported Vedomosti this month that Russia was seeking to buy at the show for three billion dollars to combat aircraft and training.

In total, the organizer Aviasalon expects contracts for a total of ten billion dollars were signed during the last week that the rally.

The previous edition in 2009 had already reached a similar amount.

Russia seeks to breathe new life into its defense industry, fell into disuse after the collapse of the Soviet Union.

The Hunter T-50 is a belated effort and time and again pushed to compete with the F-22 co-developed by Lockheed Martin and Boeing.

Stealth, the T-50 is only the prototype of the fighter aircraft that Russia intends to eventually develop and mass produce in cooperation with its first export customer, India, for a contract estimated at $ 35 billion.

The conglomerate Russian Helicopters, which brings together eleven regional manufacturers of helicopters and continued production equipment brand Mil, should also announce at the show a series of contracts, primarily to Russian companies and the Ministry of Defence.

The civilian sector should also be highlighted, with probable orders of regional aircraft SuperJet 100, which has already registered 170.

After a week of trading the most volatile memory, the New York Stock Exchange finished up Friday, raising hopes that the worst is over regarding the massive sales of securities that have been observed day funds.

The rebound Friday has not helped to erase the losses of the week, and U.S. markets are on track to achieve their largest decline over three weeks since March 2009.

The Dow Jones gained 1.13% or 125.71 points to 11,269.02 points and the S & P 500 has been 0.53% or 6.17 points to 1178.81 points.

The Nasdaq was awarded for its 0.61% (15.30 points) to 2507.98 points.

For the week, the three indices yield respectively 1.5%, 1.7% and 1%.

Sign that investor anxiety has subsided somewhat, the volume of trade Friday was much lower than in the previous four sessions, and changes in the rating were less violent.

"The decline in volume today clearly indicates that the current market a little less worried," commented Ken Polcari of ICAP Equities prior to closing.

He said that if the economic indicators next week are in line with expectations, the trend may continue.

"Before you go higher, the market needs to repair itself a little and to rebuild a database.This is what happens now. "

The rise in European markets, due to the ban on short selling some financial stocks, has helped to support Wall Street.

The U.S. economic indicators have meanwhile been blowing winds in the markets.

The numbers of consumer sentiment have molested standing at their lowest since 1980 but the July retail sales showed their biggest increase in three months.

As for values, title Nvidia fell 3.95% to 12.88 dollars, offsetting the strong gains made last after the announcement that the group included a higher than expected its quarterly revenue.