Archive for the 'plans' 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 Swiss pharmaceutical group Roche warned Wednesday that he would not fall under its offer of $ 6.8 billion (5.18 billion euros) on the Illumina American and he will not extend the period of acceptance thereof.
Its current proposal, $ 51 per share Illumina, can not be improved without penalizing shareholders of Roche, said the group, which should give up its offensive.
The offer expires Friday, Roche said not wanting to prolong it, expressing regret the refusal of the Board to engage in constructive dialogue
Illumina sequencing of genes specialist, self-proclaimed "Apple genomics", for its part has rejected offers of Roche and called its shareholder do the same.
Consulted Wednesday during a general meeting, a majority of them have also shunned.
"Roche will not be affected if it sends a signal showing that it is ready to give up these offers," said Navid Malik of Cenkos Securities.
The acquisition of Illumina would have allowed the Swiss group, world leader in therapies against cancer to benefit from its expertise in sequencing of genes play a role forefront of personalized treatments, which represent the future of the pharmaceutical industry.
Roche did not give up its ambitions for external growth.
"Roche will continue to examine all options and opportunities to further develop its business portfolio to expand its leading position in diagnostics," said Severin Schwan, director General of the Basel group, in a statement.
At their general meeting, shareholders of Illumina supported the four nominees to fill board seats, while rejecting a proposal from Roche to bring to 11 the number of directors with the objective to take a majority.
The prospect of a failure of Roche has not been punished by investors, its title having closed up 0.99%, unlike the Illumina who lost in the third me time to 4.10% to 42.20 dollars.
The Tokyo Stock Exchange closed up over 1% Friday, the good performance of the action Fast Retailing and relief related to the failure of the rocket launch North Korea has than offset the disappointment that followed the publication of a Chinese GDP worse than expected.
The Nikkei gained 1.19% or 113.20 points to 9,637.99 and the Topix broader took 5.60 points (0.69%) to 815.48.
Growth of the Chinese economy slowed to its slowest pace in almost three years in the first quarter, to 8.1% annual rate against 8.9% last quarter , said Friday the Chinese central statistics office.
Analysts polled by Reuters had expected an annual growth of 8.3% of gross domestic product (GDP).
The title Fast Retailing jumped 8.59% after the chain of clothing stores, owner of the Uniqlo brand, announced Thursday a second quarter earnings of its 2011-2012 fiscal year and a soaring increase in its annual targets.
North Korea conducted Friday to fire a rocket at the origin of a strong condemnation from the international community but this attempt was officially ended in failure.
TPSA has renamed itself Orange before Poland hosts the Euro 2012 late June, hoping to compete with an integrated offering, said Thursday the CEO of the subsidiary of France T LECOM.
"Selling Orange and TPSA separately is not very sensible economically," he told Reuters Maciej Witucki. "Customers expect a bundle of four services, which is why it is better to sell them under one brand."
"Rename the brand was included in our 2012 budget and we confirm our objectives," he added. "It will be neutral on our EBITDA and we also confirm our objective of slowing the decline in revenues this year."
India should seek to turn its airlines to refuse to participate in the program of the European Union to tax carbon emissions in the airline, said Monday , a senior administration official Reuters India.
China first allowed its air transport sector to participate in this program.
Since 1 January, all airlines flying from airports in the EU are subject to a trading system of emission quotas for greenhouse gas (ETS).
A company failing to observe these rules is liable to a tax of 100 euros per tonne of carbon emitted quota allowed. The EU ban of up to serve European airports.
If the EU were to proclaim such prohibition, she risks being subjected to similar retaliation from New Delhi.
"There are many things we could do if the EU did not return to his demands. We have the power of the economy. We not bleed as much as them, "the official said, adding that the Union's position would affect its economy and airlines
… …… The Indian government expects to receive formal approval from several departments before giving the order to its airlines not to participate in the program of the Union ……
… "The question is: are you (the Union) in bringing about a global trade war?", the official said ….. Beijing
…. The opposition to the European system of emission allowances has escalated last week with the cancellation of orders Airbus. ()
India does not provide for the time to reach such an end, but it does not exclude it either, the official said.
Amber Dubey, head of aviation at consulting firm KPMG, said that Indian industry was booming with a significant increase in the size of the civil and military fleets.
"The issue of EU ETS raises fears of trade war between the EU and the world. There is a chance that the government uses these big aircraft orders as a tool in its negotiations ", he told Reuters.
The European aircraft manufacturer Airbus, an EADS subsidiary, owns 73% of the Indian market of commercial aviation. He has in his notebook over 250 aircraft ordered by Indian companies, IndiGo, Go Air and Kingfisher.
U.S. stocks ended sharply higher Tuesday on signs of economic improvement.
The Dow Jones gained 1.68% or 218.12 points to 13,177.83 points. The Standard & Poor's 500 took 1.8% or 24.89 points to 1,395.97 while the Nasdaq Composite gained 1.88% or 56.22 points to 3039.88 points.
These data are likely to vary even slightly.
Japanese consumer confidence has plummeted in February. Individuals who fear a deterioration in the economic environment are more likely than those who see an improvement. A Prayer for the 23,000 dead and missing caused by the earthquake and tsunami that devastated parts of Japan.
The Japanese consumer confidence has plummeted in February, the index released Monday by the government losing by 0.5 points compared to January, witnessed the continuing concerns of the population about the situation.
The overall confidence index (expressed as data seasonally adjusted) fell to 39.5 points, 40.0 points against the previous month. It evolves rather erratic since this fall, after returning in the summer of his fall recorded by the tsunami of 11 March 2011. A result below 50 indicates that individuals who fear a deterioration in the economic environment are more likely than those who see an improvement.
In February, the global economy has yet given new positive signs after the turbulence in the fall of the worst debt crisis in Europe. But this relative calm did not embellish the mindset of Japanese consumers, who are generally anxious, especially as the challenges placed on the road to the third largest economy are huge, one year after tsunami that devastated the northeast of the archipelago.
In detail, in February, under-employment index fell 1.1 points to 36.0 points, continues to evolve sawtooth since the natural disaster of last spring, despite some relaxation observed on the labor market according to other indicators.
The sub-indicator of future income lost 0.6 points in turn to 38.9 points, many of those surveyed continue to fear that their earnings do not suffer from the economic uncertainties.
The sub-indicator of economic welfare in general has eroded to its share by 0.2 point in February to 40.6 points, and subindex purchase intentions for durable goods stagnated at 42 4 points. This survey was conducted February 15 to 6,720 homes in the archipelago.
Unreachable contacts, website saturated … There is progress to be done to improve relations between the French and the taxman, a detailed report of the Court of Auditors published this morning. The fight against tax evasion has allowed the state to recover 16 billion euros in 2010
This is not true love … Certainly, the relationship between taxpayer and tax authorities have benefited greatly from the French way in the early 2000s [click here to read the report] to fiscal management user-centered, with a delay of ten years many countries, but Significant progress is needed, said Tuesday the Court of Auditors. "Search the support of the majority of taxpayers can better than punitive measures, to optimize the yield of the tax," said the Court of Auditors a report on the "relations of the General Directorate of Public Finance with taxpayers ".
By the late 1990s still prevailed in France the traditional view of fiscal management focused on the needs of the administration user and password only met ten years ago still reluctance among tax officials, "fed a a regal culture, "remarked the court. But since the late 1980s, the view of external actors was already in many developed countries a central position.
Bad reception on the phone
A service offering more extensive telephone, internet desk, physical reception, email, mail, online payment, monthly payment, etc., has led to "remarkable progress in relations with the taxpayer," welcomes the Court, but added "significant room for improvement exist." It then lists the number of breaches including telephone reception, called "black spot" "to rethink a whole", contact mode the most criticized by users and administration.
As for the one-stop shop for the determination of the assessment and collection of taxes, he suffers with regard to SMEs lack information on the satisfaction of these companies. For individuals, there is "strong disparities in the quality of service" and not allowing applications to approximation of functions in a single window "produce full effects" despite "well-trained staff". Electronic messaging is the preferred method of contact that develops the more traditional mail with no "more reliable it once had." Nevertheless "the administration has not yet organized to deal effectively with emails." In addition, agents fear the excesses authorized by the ease of communication (conversation repetition effect, known as "cat", sloppy …).
Platforms saturated
Impots.gouv.fr on the site, the Court criticized platforms "too often saturated" and believes that the General Directorate of Public Finance, DGFIP "should match each use of an electronic procedure to test satisfaction". The automatic payment (monthly payments, direct debit on the due date, online payment) in 2010 represented 87% of amounts paid to the Income Tax (IR) but only 53.9% of all IR and local taxes. Taxpayers must be "informed, reassured, heard" face "the instability of tax law", born of many reforms sometimes removed, the report says.
These uncertainties on the effective and sustainable tax standards "risks to competitiveness and attractiveness of France in a global economy" is more widely in the national guard. If the on-line since recently proposed policies of tax is popular with businesses, "the deadlines are often too short to the point that some reforms take effect without the terms of the corresponding instructions are available on a timely" , asserts the report. The Court of Audit also recommends that the administration of exceeding "design binary between the good citizen to the fraudster" to apply a more detailed analysis and also to accept that "users become actors in their own transformation."
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.
EDF Group and Italian utilities A2A Thursday announced an extension until December 30 of the shareholders in Edison, the second electrical Italy, which the French group tries to take control through negotiation .
This new extension of a pact that came to an end Wednesday comes a month after an agreement on the principles of the reorganization of Edison, after several months of fruitless discussions that have long stumbled on valuation issues but also " patriotism "economy.
A2A, which leads the consortium of Italian shareholders engaged in discussions with EDF, had said Monday that the deadline for concluding the negotiations could be delayed until Christmas.
If final agreement on industrial restructuring and shareholder of Edison, EDF had its way by taking operational control of the Italian group, heavily indebted, with the stated objective to improve its performance but also to use it as basis for developing its gas business.
If the French electrician did not detail the agreement on Edison, A2A said last month that the new reorganization of the company would leave the core of Italian shareholders 31% stake in EDF and 50%.
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