JPMorgan has been the subject of Wednesday two lawsuits from some of its shareholders, who accused the bank and its executives for taking excessive risks that led to trading losses of at least two billion announced last week.
A spokesman for JPMorgan Chase declined to comment on these two complaints that were filed in federal court in Manhattan.
Adecco is Tuesday first-quarter results better than expected, while announcing that the European environment is expected to remain difficult as North America, the second largest market of digital ; ro a global placement of personnel, should instead continue to do well.
The net result of the first three months of the yearâ increased 12% to 112 million euros, while analysts polled by Reuters had expected on average 100 million.
"We started in 2012. The turnover of the first quarter of 2012 is almost the same level as in the first quarter of 2011, a solid performance given the headwinds that blow in Europe, "says Patrick de Maeseneire, Director General ral of the Swiss group, said in a statement
. "Our sales in North America continued to hold up well." Revenues
the period rose 2% to 5.035 billion euros, against a consensus of 4.991 billion ..
……. Randstand, Dutch rival Adecco, spoke about the uncertain developments in Europe while the U.S. pre Manpower said ; see a double digit decline in southern Europe in the second quarter
.
The American public and private sectors have hired in April 25% of people below the previous month. A brake that is accompanied by a decrease in trompe l'oeil in the unemployment rate to 8.1%. The unemployment rate in the United States has still not deflated. "They need a job" REUTERS / Jason Reed (UNITED STATES – Tags: POLITICS BUSINESS Civil Unrest)
The controversy over the unemployment figures in the U.S. is not going to stop. The unemployment rate has indeed declined despite a decline in recruitment. According lenquête conducted by the Ministry with companies, the U.S. economy created 115,000 more jobs than it destroyed in April. Or 25.4% less than in March, and a figure lower than the estimate of analysts (162,000). A trend that confirms the investigation of the slowdown in hiring in the private sector alone.
Curiously, this poor performance has not prevented the official unemployment rate to fall by 0.1 points compared with April, amounting to 8.1%, its lowest level since January 2009, according to the Ministry of working. This decline is a surprise since the median estimate of analysts gave unemployment stable at 8.2%. Government figures show that the decline in unemployment has resulted primarily from lower rather marked in the labor force. According to investigations conducted by the ministry of households, the number employed appears to have declined for the second consecutive month, just slightly slower than that of people unemployed.
Honda Motor said Friday it planned for the year that has just begun operating profit increased almost three in favor of an expected surge in car sales Asia and the continued recovery of the U.S. market.
The third Japanese car maker turns the page on a 2011-2012 fiscal year marked by natural disasters-earthquake and tsunami in Japan, floods in Thailand-and the strong yen.
For the 2012-2013 fiscal year, Honda expects an operating profit of 620 billion yen (5.8 billion) against 231.36 billion for the one that just ended.
This forecast is below analysts' expectations, who see a figure of 645 billion yen, but remained optimistic for a reputable company to the prudence of these projections of results.
"The North American market is gradually picking up and we enter into new segments in Asia. We believe that we will grow faster than the market, "said Tetsuo Iwamura, executive vice president of Honda
…… The latter told … see a car market of 14.3 million vehicles in the U.S. this year, against 13.5 million in 2011
… He added that …… Honda, whose sales of the new version of "crossover" CR-V increased by over 25% in the U.S. since the beginning of the year , wanted to join as soon as possible a share of over 10% of the U.S.
. The group plans to jump from 2012 to 2013 38.4% of its global sales of cars, to 4.3 million units and a 10.2% increase in shipments of two-wheelers, to 16.6 million copies.
For the last quarter of 2011-2012, Honda has reported a jump of 142.3% of operating profit, the production of Japanese automaker is back to normal Aftern ; s the consequences of the earthquake and tsunami that hit Japan March 11, 2011.
Over the three months to March, operating income stood at 111.98 billion yen (1.05 billion euros), a figure lower than the 123.2 billion average expected by analysts according to Thomson Reuters consensus I / B / E / S.
Net income, which includes the results released in China rose 60.7% to 71.59 billion yen.
Honda is a Japanese manufacturer that has suffered most from natural disasters in Asia in 2011.
The group has restarted its Thai factory in March after a period of six months.
Sony's new boss Thursday drew the outlines of a recovery strategy includes 10,000 job cuts and a focus on mobile electronics and medical equipment, in hopes of re reconcile the group to profitability despite its difficulties in televisions.
Kazuo Hirai, who succeeded last month in Howard Stringer to the general direction of Sony, has doubled the forecast annual loss of the group to a record 4.9 billion euros and is faced with the daunting task of rehabilitating the brand, trailing Apple's U.S. and South Korea's Samsung Electronics.
"We heard the many voices calling for change of investors," said Kazuo Hirai before a crowd of journalists gathered at Sony headquarters in Tokyo, not far from the first plant group, opened 65 years ago.
"Sony will change," he promised.
Sony, like its Japanese rivals Sharp and Panasonic, has suffered in recent years a decline in demand for televisions, fierce competition and competitiveness weighed down by the strong yen.
To bounce back, the Japanese manufacturer of consumer electronics said he wanted to strengthen its business in mobile phones, digital cameras and games, while seeking strategic investments in mate ; riel medical and batteries for electric vehicles.
The group also confirmed press reports that he would eliminate about 10,000 jobs, or 6% of its global workforce, and provisionnerait a restructuring charge of approximately 75 billion yen (705 million) on the current fiscal year, ending March 31, 2013.
Sony also intends to reduce its costs by 60% and 30% fixed operating costs in televisions in 2013-2014.
"We can not shy away from tough choices," said Kazuo Hirai.
BET ON ENDOSCOPES … AND PORTABLE
By focusing particularly on medical equipment, which is booming, Sony aims for 2014-2015 a total turnover of 8,500 billion yen (80 billion) and operating margin of more than 5%.
The inventor of the Walkman and the PlayStation was one of the frontrunners to an alliance with the Olympus medical equipment manufacturer, which owns 70% of the global market for diagnostic endoscopes but whose finances have suffered from a large accounting fraud discovered last fall.
Sony sees endoscopes, it could enrich its imaging technologies, a growing market. He also said he was looking for partners to make batteries for electric vehicles.
"Expanding its presence in the medical field and electric vehicles is a good thing because these activities have better margins and these are areas where Japan has been proven," said Michael One (Beyond Asset Management).
But Sony has also promised to put smartphones in the heart of its turnaround strategy to triple its sales in mobile telephony to 1,800 billion yen over the next three fiscal years. Some analysts see an inconsistency.
"We do not understand exactly how they will adjust their activity in the electronics, nor how they will again create value," said Tetsuro Ii, president of Commons Asset Management.
Sony Ericsson has already bought full control of their mobile phone joint venture Sony Ericsson to strengthen its position in a market dominated by Apple and Samsung. He has since launched its first smartphone, the Xperia range, under the Sony brand.
Prior to these announcements, Sony has the action ended Thursday up 0.86% to 1,528 yen in Tokyo Stock Exchange.
The Group's market capitalization has shrunk by almost 20% over the last month. Samsung is now ten times and Apple – that some Sony executives were considering buying in the early 90 – thirty times.
The Tokyo Stock Exchange ended down 0.53% Thursday, limiting its losses in the wake of the sharp drop on Wall Street and European markets.
The Nikkei fell 52.38 points to 9,767.61 points after touching a low four-week session and the Topix broader point yielded 2.79 points (-0.33%) to 832.57 points.
Toshiba has closed up 1.73%. The world number two flash memories is considering an alliance with South Korea's SK Hynix Semiconductor to buy Elpida Memory, according to the Nikkei newspaper.
Values have been car clearances, leaving Toyota and Honda Motor 0.72% 1.13%.
Salaries revved up on the Asian continent. In some Chinese provinces, the minimum wage is the same as in Romania. But China is really less competitive? A factory in China flat panel displays.
Competitiveness of Asia is it falling? The English-language newspapers and French launch debate, astonishing figures to support. The Wall Street Journal, remuneration ignite the entire Asian continent. In Thailand, the minimum wage should be increased by 40% in early April. In Indonesia, it has already increased by 20% in many areas in recent months. In China, wages have jumped 181% since 2004. In several parts of China, the minimum wage is now at the same level as Bulgaria and Romania, the newspaper Les Echos.
This surge in earnings, barely slowed by the crisis, he signs the end of the "low cost" in Asia? It is still too early to tell. Certainly, if one believes the economics textbooks, China and its neighbors will lose, with wage growth, competitive advantage in sectors intensive in labor, such as textiles and electronics. A phenomenon which should result in a second step, an upscale Asian.
Except that on the ground, it's not really what we observe, notes Francoise Lemoine, China economist at CEPII. In recent months, China's exports, for example, slowed less quickly than international trade. In other words, the weight of the Middle Kingdom in trade has rather strengthened over the recent period, although the announcement of a record trade deficit has cooled the market!
Moreover, China still has a structural advantage in competitiveness. Wages are only part of the story. We must also look productivity, says Francoise Lemoine. It increases by 10% per year. And foreign companies operating in China are careful not to let this figure decreasing through investments. Indeed, even if wages increase rapidly, especially in the eastern regions which provided further in 2009 nearly 90% of exports, their growth does not exceed that of productivity frankly. Ultimately, the competitiveness of China is still largely preserved.
Especially since the Middle Kingdom has another asset: its reservoir of manpower. China continues to move part of its production in the inland provinces, where wages are lower. Of course, Beijing began a decade ago a rebalancing policy, which should eventually lead to an increased weight of consumption over exports. But do not misinterpret this policy: China has not given up being an exporting nation, says Francoise Lemoine.
In fact, given its advantages, China may well remain very competitive for ten years. However, its scope for growth in the markets today is much lower than that of a decade ago, due to wage increases of course, but also because of the proliferation of protectionist measures, such as the segment solar panels. One statistic sums up the situation in China. Its share in world exports of manufactured goods reached 16%. But in the past, this level has always been a peak for the major exporting countries, whether the United States, Germany or Japan.
March 11, 2011, a violent earthquake struck Japan, followed by a giant tsunami that resulted in the Fukushima nuclear disaster. Quantitative assessment, inventory of nuclear stock of the Japanese economy: five links to learn more about this sad anniversary. Tepco employees check the levels of radioactivity of the nuclear accident in Fukushima, in the province of Daiichi (northeastern Japan)
There are just over a year, March 11, 2011, northeastern Japan was devastated by an earthquake measuring nine coupled with a tsunami of historic proportions. The disaster has claimed thousands of victims, caused enormous damage and caused the nuclear accident at Fukushima.
In pictures, the great figures of the earthquake
Minami-Soma, city of Fukushima prefecture, was devastated by the disaster. This small coastal town near the nuclear power plant has lost thousands of its inhabitants. The survivors are now wondering about their future. Many have already fled. Remain ghosts and memories.
Report: After Fukushima, the city of Minami-Soma broken
That day, March 11, 2011, Naoto Kan, the then Prime Minister of Japan, was in the upper house of the Diet, where he answered questions from the opposition. Exclusive to L'Express, he tells how he lived and managed the disaster crisis.
Interview: "Fukushima has a human cause"
The disaster cost the Japanese economy has plunged into recession. Japan's GDP fell 0.7% in 2011. The country now seems out of crisis. Growth expected to reach 2% this year. But this rebound is largely artificial.
Analysis: What is the Japanese economy?
The Fukushima nuclear disaster has brought discredit to the entire industry. Fear of nuclear is back in the public opinion of developed countries, pushing many governments – including Germany – have announced their willingness to exit this mode of energy production. Yet it is clear that today's nuclear industry is doing well. Besides the contrasting reactions in the West, emerging countries are determined to take advantage of the strengths of the atom.
Understanding: Why nuclear winter has not taken place
In Japan, only three of 54 reactors still operating aujoud'hui. That of Fukushima is stopped. The area is off limits, because the radioactivity level is high. Tepco, the operator says the situation is under control. Roland Desbordes, Commission President for Research and Independent Information on Radioactivity (Criirad), in doubt.
Interview: "The explosion in central Fukushima is still possible"
In France, where 80% of electricity is nuclear, Fukushima has shaken public opinion. The debate on nuclear phase-out has made a great comeback. A year later, ecology seems the most overlooked of the presidential campaign. Environmentalists, advocates of a permanent exit from nuclear, are credited with less than 5% of the vote. Their socialist allies negotiated a minimum agreement. A group called "Generation Fukushima", who fight against nuclear power, attempts to remedy this lack.
Read on Express Yourself: "Your nuclear legacy, we do not want it!"
Key values to follow Friday on Wall Street.
* GAP has disappointed expectations Thursday, saying wait for fiscal 2012 earnings per share 1.75 to $ 1.80, while analysts polled by Thomson Reuters I / B / E / S on average had expected $ 1.79.
Gap posted a fourth quarter profit of $ 218 million, or 44 cents a share, against 365 million (60 cents) a year earlier.
In pre-market value fell by 2% to 23.10 dollars.
* AMERICAN INTERNATIONAL GROUP. The insurer reported a profit of $ 19.8 billion in the fourth quarter of 2011, due to an accounting change that allowed him to display a huge windfall.
This change, which raises the price of AIG from 6.5% to 29.81 dollars in pre-market means that the group will not pay tax on billions of dollars in profits in the coming years.
* Interpublic. The advertising agency has published a quarterly profit above expectations, thanks to emerging markets in a context of recovery of the sector.
EPS for the fourth quarter is 50 cents per share while the market was expecting 39 cents per share. Revenues for the quarter amounted to $ 2.07 billion, or less stable over one year. The turnover abroad rose by 6%.
In 2012, Interpublic expects organic growth of 3%.
In pre-market value gains 4.2% after finishing at 10.91 dollars Thursday.
* CITIGROUP. The bank has raised $ 1.95 billion sale of its stake in Indian company Housing Development Finance Corp, said on Friday, sources familiar with the matter.
In pre-market value gains 1% to 32.95 dollars.
Several Directors of Veolia Environnement, whose CEO of EDF Proglio, are preparing to head the group's CEO, Mr. Frérot, reports financial daily Les Echos in its edition Monday.
The former Minister of Ecology Jean-Louis Borloo is among prospective successors, the newspaper said, predicting that a Board of Directors of Veolia Environnement scheduled on February 29 will be crucial.
Contacted by Reuters, a spokeswoman for Veolia declined to comment.