Archive for the 'calculation' Category
Munich Re has released the first quarter 2012 net income after minority interests of 780 million euros, a figure consistent with expectations that stage is explained by a higher revenue from investments and a low level of claims for damages.
The consensus was 776 million euros, according to 10 analysts and brokers polled by Reuters.
"Despite the economic situation remains difficult, we are optimistic for 2012 and are aiming for a profit for the year of about 2.5 billion euros," said Jörg Schneider , CFO of the first global reinsurer, said in a statement.
In the first three months of 2011, accounts of Munich Re had plunged into the red after billions of euros of damage claims after the effects of earthquakes in Japan and New Zealand.
The activity has slowed sharply in April in the Chicago area, which serves as a barometer for the entire U.S. industry. Barack Obama visited a General Motors plant in Hamtramck, Michigan, near Detroit, July 30, 2010.
The slowdown of U.S. economy in the first quarter is on track to continue in the second. Industrial activity has slowed markedly in the Chicago area in April, according to the local index of purchasing managers in the U.S. ISM trade association said Monday. This index was down 6.0 points from March to $ 56.2 in seasonally adjusted data, its lowest level in 29 months, the ISM said.
The index nevertheless reflects an expansion of economic activity for the 31st consecutive month, the ISM wrote in a statement adding that the April figures also reflect a trend of activity to "slow further." The median forecast of analysts gave a less marked decline of the indicator, to 60.0.
The ISM Chicago extent the perception that industry in the region of the economy. He is said to be usually a good indicator of changes in the barometer of activity at all the United States. For the association, the fact that the index has declined for the second consecutive month and that this decline has been driven by a sharp fall in its component measuring the production incentive to "be more careful about the erosion of application that continues, even if the backlog increases "for area businesses.
Atos confirmed Wednesday all its annual targets after completing the first quarter organic growth of 2.4% of its turnover, driven by outsourcing, Germany and UK.
The computer services company, whose main competitors are Accenture and Capgemini, confirms this year include a slight organic growth of its turnover from the level proforma 2011 and is operating margin 6.5% compared to 4.8% on a proforma basis in 2011.
"We have confirmation now for three quarters as Germany, Eastern Europe, Central and Northern and the United Kingdom are now vehicles for growth, and continue to register a level 'satisfactory business, "said Gilles joined, executive vice president of Atos, during a conference call.
He told Reuters an acceleration of the group's organic growth in the second half compared to the first. He stressed the unfavorable comparative weighing of the second quarter, which has more public holidays in 2011.
The group achieved first quarter sales of 2.163 million euros, driven by organic growth of 3.9% of its center outsourcing (IT outsourcing) representing 45% of the activity.
Growth in Germany and the UK, its two largest markets, are also more than offset declines in the Benelux and France, which however had a recovery "in step".
Accenture has on his side out at the end of March a good resistance to its business in Europe.
Closely watched indicator, the ratio of new orders to billings (book-to-bill) stood at 107%, with a backlog of 14.5 billion euros at March 31, or 1.7 year of sales.
Gilles joined Atos has also stated its continued "close discussions" with Thales and Orange, the social project of "cloud computing" was approved Friday by the French government.
He said this could be done via Canopy, the partnership announced in February with the U.S. EMC and VMware in this activity.
"Cloud computing" ("cloud") is to store data in supercomputers called servers, grouped by hundreds of thousands in large premises belonging mostly to large IT groups.
WORLDLINE CRUCIAL FOR ATOS
Gilles joined also wishes to continue developing its cluster electronic payments and secure transactions, which includes Atos Worldline.
Rumors had been circulating there for ten days on this division following a note from Morgan Stanley essentially assuming that the integration of SIS, the IT division acquired from Siemens, promised to die pledge more synergies.
Gilles joined observed that these were "comments outside the company."
Atos Worldline is a "major division" Atos, which will help the group reach its operating margin target of 7% to 8% by 2013, he said.
"We are a management that is not dogmatic," but added Gilles joined. "It is our duty by definition never exclude any option that could accelerate and support the further development of this activity in our company."
Atos also aims to achieve a cash flow of around 250 million euros in 2012, against 194 million in 2011 to support an increase in operating margin and a tighter control of investment and working capital needs.
The action Atos closed Tuesday down 1.57% to 20.04 euros, giving a market capitalization of 3.69 billion. She has returned 30% since the beginning of the year.
Germany experienced between 2001 and 2011, the smallest increase across the EU, with an increase of 19.4%, while hourly labor costs in France rose by 39.2%, more than double the same period. A poster of the employers' union Verdi against the introduction of a general minimum wage in Germany
Germany experienced a decade of more moderate growth in labor costs of the entire European Union, according to statistics released Tuesday, but the hourly labor cost is one third higher than the European average. One hour of work in the private sector cost 30.10 euros for German employers, a figure of 32% above the EU average and that places Germany seventh among 27 EU countries, according to these figures published by the Federal Statistical Office Destatis.
Compared to the great French neighbor, the labor cost is 12% lower and 23% lower than in Belgium, the leading EU countries. Germany experienced between 2001 and 2011, the smallest increase across the EU, with an increase of 19.4%, while hourly labor costs in France rose by 39.2%, more than double the same period, according to Destatis.
German wage moderation is a key factor in the competitiveness of the country, including its industry. The downside, often cited by the unions, wages are low, in the absence of widespread minimum wage and an increasingly precarious, with greater use in some industrial sectors in labor and temporary work.
The Austrian bank in difficulty Volksbanken, which the State is about to take a significant minority stake, said Thursday it lost 1.35 billion euros in 2011.
This result is at once the fact of past depreciation on its activities in Eastern Europe and losses on Greek sovereign debt and other bad debts .
Once the fourth largest bank in Austria, Volksbanken failed to European stress tests last year.
The anticipation of a heavy loss and the slow restructuring of the bank in February led the Austrian government to launch a rescue plan that will cost over a billion euros to the state and will mean for current shareholders by the loss of more than 70% of their assets.
In November, the bank said that its loss in 2011 would be higher by at least 10% in the range from 900 to 1,050 million euros given in October.
Taking into account the recapitalization of the bank, which must be approved at a general meeting called for April 26, 2011 the loss is reduced to ; 53.5 million euros, said in a statement Volksbanken.
After the bailout of the institution, the majority of the capital should remain held by regional banks, taking the state for its part ownership of more than 40%.
Vienna will therefore be entitled to appoint four members of the Supervisory Board of Volksbank. According to a financial source, including the Austrian government will bring Gertrude Tumpell-Gugerell, former board member of the European Central Bank (ECB), the bank board.
In the eyes of rating agencies, the importance of the financial sector in Austria is one of the risks to the country's sovereign rating.
Standard & Poor's withdrew its Vienna "AAA" in January and Moody's said she could do the same.
The tender rate to ten years back below 3%
France has raised a total of 9.479 billion euros, when issued to Treasury bonds (OATs) due 2017, 2019, 2022 and 2026, announced Monday the Agence France Trésor in a statement.
This is the third award in the long run of the year. On the line OAT 4.25% maturing October 25, 2017, tenders served primarily by the Treasury (ONC) totaled 233 million euros, bringing the total of the auction to 1.058 billion euros at weighted average rate of 1.91% against 2.42% in the last similar operation on 1 December.
On the line at 3.75% maturing October 25, 2019, the ONC totaled € 343 million bringing the total amount of ajdudication to 1.593 billion euros at weighted average rate of 2.48%. AFT does not provide a comparison on this line.
On the line at 3.00% maturing April 25, 2022, the ONC totaled 620 million euros, bringing the total of the tendering procedure to 4.535 billion euros at weighted average rate of 2.91% against 3.13% in the last similar operation on December 2.
On the line at 3.50% maturing April 25, 2026, the ONC totaled 292 million bringing the total of the auction to 2.293 billion euros at weighted average rate of 3.30% against 3.65 % in the comparable operation on 1 December. Regulation of these four lines will take place March 6.
Strengthening the European firewall is essential before the International Monetary Fund's resources are strengthened, ministers agreed the G20 finance summit meeting in Mexico City, said the final communiqué issued ; Sunday.
The central bankers of the world reflected this weekend in how to avoid a spreading crisis of European sovereign debt to all of the e ; global economy, calling into question an already fragile growth.
By combining existing resources and new financing, they intend to bring to nearly 2,000 billion the firewall surrounding the euro area.
Countries in the euro area have planned to meet in March to discuss this issue. Some countries, like China or Japan, have found that the decision by the euro area itself to raise more funds would be "essential" before they decide to turn to provide more funds to the IMF.
Germany and other European countries pleaded for this contribution is described as "important".
The British Finance Minister George Osborne has also been tough. "We are ready to consider a strengthening of IMF resources, but only once we have seen the color of money in the euro area, and we have not seen" , he told Sky TV.
At their next meeting in April, the G20 agreed to agree on a financial firewall around 2,000 billion dollars (1.487 billion euros) to prevent European debt crisis from spreading and threatening the global recovery.
GERMANY MORE FLEXIBLE?
This would be the most ambitious effort since the financial crisis of 2009, when the G20 has reached 1,000 billion dollars to save the global economy.
For many partners in the euro area, it is indeed the first European leaders to implement the necessary means to control the risks of contagion from the debt crisis, for example by combining lending capacity of its two mechanisms of financial stability, the European Financial Stability Fund (EFSF) and the European Financial Stability Mechanism (MES ).
This would bring their firepower combined with some 750 billion euros. G20 countries would then be more inclined to answer the call of the IMF, who wants more than double its capacity to respond by raising $ 600 billion of additional resources.
Added together, all these measures would create a global financial firewalls of about 1,950 billion.
A government official close to German Chancellor Angela Merkel, however, said Sunday that the MES already had adequate funds and that Berlin did not see the utility of a combination of SS and EFSF.
In Mexico, however, the negotiators at the G20 summit have suggested a different story, that of Germany more flexible.
"Everyone in the euro area and even in the European Union is reasonably satisfied to see a combination of SS and EFSF, even Germany, but it is too early to say that we will decide at the EU summit in early March, "said Margrethe Vestager, Minister of Finance of Denmark, which currently chairs the European Union.
Unemployment continued to rise in January in France, according to figures released Friday by the Ministry of Labour and job center.
The number of job seekers in category A (those who have carried on any activity) increased by 13,400 (+0.5%) last month in France compared to the month of de December to $ 2,861,700. Over one year the increase stands at 6.2%.
Taking into account persons engaged in a Pool (Class B and C), the number of jobseekers rose by 0.1%, or 4,800 more people to reach 4,258,200 (+5.5% yoy).
With the overseas departments, the number of unemployed stood at 4,525,900, a figure significantly in two months of the first round of the presidential election.
Some doctors in French public hospitals do not hesitate to charge transactions at prices well above normal. The hospital in Lille Claude Huriez
A cataract operation charged 1,490 euros, while Social Security pays only 272 euros? This is not the price of a private clinic, but rather that of the Hotel Dieu in Paris. A public hospital. And these seem to be common practice, according to a study published in the magazine "60 million consumers," which highlights the excess fees to certain astronomical practitioners. Hospital doctors more greedy and round their monthly income to the tune of 70,000 euros per year.
This shift is made possible by the Debré Law of 1958, which allows practitioners to hospital to have a private practice in public institutions, up to 20% of their time. Some have therefore fully optimized, such as a knee operation, paid 555 euros for social security, and charged 6000 euros. Specialists in knee and hip have understood the principle: for a transaction of this type, the rate can reach twelve times the amount reimbursed by the safety!
These practices are also not gone unnoticed, and the owner of health insurance, Frederick Roekeghem wrote to doctors whose rates are excessive. With the threat of a sanction if the National Council of the order does not act quickly. Meanwhile, the patient is the first victim of these abuses.
Aegon announced Friday results for the fourth quarter below expectations, within the scope of past depreciation on assets backed by mortgages in the U.S. and a series of restructuring charges related to cost reductions.
The Dutch insurer that owns Transamerica U.S. life insurer, has emerged over the last three months of the year a net profit of € 81 million while that 15 analysts polled by Reuters had expected an average figure of 176 million.
In total, impairment and other charges totaled nearly 300 million euros, said Aegon, which has however proposed a dividend of 0.10 euro per share, the gèrement above the consensus, which was 0.08 euro.
The taxable income of the insurer stood at 346 million euros, while analysts had expected 368 million.
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