When he crossed the threshold of Honda Aircraft Company booth at EBACE business aviation held in Geneva until Wednesday, the visitor is first greeted by a car manufacturer of the third Japanese car.
Then appears the HondaJet painted red subsidiary of Honda Motor, determined to carve cruppers the American Cessna (Textron group) and Embraer on the market ; light business aircraft.
Honda has received over 100 orders for the seven-seat aircraft within three days after the program began in 2006 but has since remained quiet about the state of his book.
The Japanese embarked on a market segment that has especially suffered from the crisis of 2008, which does not seem unduly disturbing Michimasa Fujino, Honda Aircraft Company's CEO.
"The market for light aircraft is close to the automotive market in terms of business cycles," he said in an interview with Reuters. "Light aircraft are influenced by economic conditions, such as automobiles."
Honda plans to produce 20 units of its product by its first delivery scheduled for late 2013 and 50-70 in 2014, before reaching its cruising speed of a hundred a year from of 2015.
The manufacturer promises a device with a quieter and 20% fuel savings compared to competitive models.
"It's like cars: the cars more compact and more fuel efficient are the most popular," noted Michimasa Fujino.
Honda plans to take 10% of the market initially, and then award in the medium term from 15 to 20%.
Customers interested in the aircraft are not looking particularly to customize the cabin, as might be the case for larger aircraft, he noted.
"HondaJet design looks more like a car, which means that we try to provide an aircraft whose equipment is very complete," said Michimasa Fujino.
He believes the more the market potential of a light aircraft Bigger is not necessarily required for the path of a businessman going to a meeting by instance.
"It's like the car: you do not go necessarily to work with your large MPV", he said.
Michimasa Fujino said that companies were going more and more that have a light business jet they were very helpful.
"Perhaps the use of light aircraft will become more common in the future," he said. As for the car.
Personal business cards are considered primary marketing tool for any type of business. It is the string of bondage that you build to create a long-lasting relationship with your customer and associates.
Qatar continues its buying spree abroad, entering the capital of the British oil giant Royal Dutch Shell and considering a stake in Italy's ENI, according to news reports.
Last month, Qatar had already strengthened the capital of French Total to 3%.
A Shell spokesman confirmed Friday that Qatar's sovereign wealth fund bought shares in the group but did not say how much this participation rose.
The journal Middle East Economic Survey reported earlier that the Qatari sovereign wealth fund was "in very advanced discussions" to take 3% to 5% stake in Shell.
"We are delighted to welcome Qatar Investment Authority as a shareholder in major long term Shell, particularly in view of our excellent strategic relationship with Qatar," said a spokesman in a statement ;.
According to Reuters data, a 5% stake would make the emirate's largest shareholder Shell.
At the London Stock Exchange, Shell action progressed from 0.46% at 10:20 GMT when the European sector index of the energy lost 0.49%.
According to the Middle East Economic Survey, Qatar's sovereign wealth fund is also in talks to take a stake in Italy's ENI. The group did not wish to comment.
Qatari sovereign wealth fund has been very active in recent years, taking stakes in various sectors ranging from automobile manufacturer Porsche at the British bank Barclays.
Qatar is among the top five shareholders and Total also holds interests in several other French companies, including Lagardère, Vinci and Veolia.
Vivendi has been considering its strategy and investment banks are preparing proposals for divestiture or restructuring to try and halt the plunge in its stock price, several sources have told Reuters.
The difficulties of SFR, the leading provider of liquidity, led the Board to revive the old debate about the relevance of a model combining media and telecoms and put under pressure its number one Jean-Bernard Levy.
Facing the bronca shareholders embittered by a share price at its lowest for nine years, President of the Supervisory Board Jean-Rene Fourtou promised last month that the conglomerate would not remain idly and that all subjects would be put on the table, no "taboo".
Jean-Bernard Levy told Reuters on his side to the group questioned constantly on optimizing its business portfolio.
"There is no doubt that they are in full introspection on what to do," said one investment banker. "Until now, the board supported management and strategy, but the situation becomes critical and there may be a split."
Investors who dream of a quick and radical, however, may have to be patient despite the excitement in the markets by the situation mentioned by Bloomberg for dismantling and the arrival of man in the capital stock shots, Vincent Bolloré.
The contractor, who is poised to sell its conglomerate channels Direct 8 Direct and Star in exchange for Vivendi shares, wants to be a long-term shareholder and looks forward to working with the council rather than to impose its views at the outset, according to two people familiar with the CEO of Bolloré.
Most importantly, the tandem-Fourtou Levy, who oversaw the reconstruction of Vivendi after the debacle of the Messier era in 2002, is still in command.
Under the leadership of two men, Vivendi has cleaned up its financial position, streamlined its structure by acquiring minority stakes and settled a series of disputes.
The group also made acquisitions including that of the fast-growing operator GVT and tried to create synergies between its divisions with mixed success, however.
BACK TO SQUARE ONE
"All these years later, it is quite ironic that the group returned to square one: the action is at its lowest, there is still no synergies between the different business and it will be even harder to sell assets whose value has declined, "said one former executive of the group.
In a letter to shareholders dated March 27, the two leaders again rejected the idea that Vivendi would be a collection of unrelated activities with each other while judging " excessive "the conglomerate discount applied to the title, estimated at 40% by Jean-Rene Fourtou.
The challenge now is whether the group, which has previously rejected the dismantling scenarios, could this time take the plunge and abandon its hybrid structure.
"We can probably 216,000 scenarios, I do not fit into one of the 216,000 scenarios," said Jean-Bernard Levy told Reuters when he was asked about this hypothesis.
A seminar with the direction in June will be an opportunity to discuss the strategy and scope of Vivendi but a spokesman said the group meeting was held annually for several years and it was unlikely that it leads to major announcements.
According to several sources familiar with the matter, no bank has so far been commissioned for a sale or restructuring.
In a note, credit analysts at Société Générale consider the hypothesis of "break-up" unlikely unless a departure of Jean-Bernard Levy under pressure because of the difficulties of SFR.
The action of Vivendi has lost over 30% since its acquisition in April 2011 of the total SFR against 7.95 billion euros, an operation expected to result in a boost for the stock market Title and a dividend increase.
The arrival nine months later Free on the mobile market, has destabilized the operator which provides for 2012 down 12 to 15% in operating profit . Vivendi cut its dividend and the difference between the total assets of the group and its market capitalization has increased.
The AIGUILLON BOLLORÉ
Jean-Bernard Levy took the reins of SFR directly before passing the baton to a new CEO in the summer, with the promise to "tighten the bolts" within which the subsidiary recovery is deemed crucial to right the course of the action and for his personal future, according to several sources.
In this context heckled, the group is studying its options, reported by observers and bankers who do not see much to fix.
"Everything is reviewed. When they write in their letter to shareholders that nothing is taboo, it is a call for bankers to offer ideas, "said a person familiar with the group ….
….. "Unfortunately, it's not as simple as what people think when you look at the structure of the group"
.
According to sources, banks are working on a script assignment of Morocco Telecom, whose margin was still 55% last year despite a drop in sales
. Vivendi could also relaunch the IPO of Canal + France initiated last year by its other shareholder Lagardère before be suspended or sell its 60% stake in the video game publisher Activision Blizzard, the U.S. side.
But the sale of Telecom Morocco, 30% owned by the Kingdom of Morocco, could face political issues, indicates the same person, adding that the operations which appear more affluent, as Activision, have little influence on the other hand on the vision of the market prospects of Vivendi.
Some investors are pinning their hopes on the arrival in the capital of Vincent Bolloré, reputedly close to Jean-Rene Fourtou who said he would be welcome to the board.
A source close to the entrepreneur Vincent Bolloré hopes to reach 5% of the combined effect of the sale of its DTT channels and purchasing title to market. Societe Generale has recently become the largest shareholder with 7.86% of the conglomerate's capital.
"The emergence of a shareholder can bring a little more pressure on management will be forced to be accountable," said Gilles Guibout, portfolio manager at ; AXA Investment Management.
At the head of a family group, the entrepreneur would not invest one billion euros in Vivendi without an idea in mind, argues one contributor.
Wall Street has won more than 0.5% Wednesday, ending a series of five sessions of declines, driven by soaring title Alcoa after the gen ant aluminum, which opened Tuesday the "earnings season" has reported an unexpected profit for the first quarter.
The Dow Jones industrials gained 30 0.70% or 89.46 points, to 12,805.39 points. The S & P-500, wider, took 10.12 points, or 0.74%, to 1368.71 points. The Nasdaq Composite Index advanced on his side of 25.24 points (0.84%) to 3,016.46 points.
Tuesday, within the scope of concerns about global economic conditions and, perhaps, of a correction, the S & P 500 benchmark index of the managers fund, had fallen under its 50-day moving average for the first time since December.
Cyclical sectors, which have fallen sharply in recent days, took advantage of a movement to purchase cheap, the fund financial echoing 1.59%, including a gain of 3.75% to 8 , $ 86 for Bank of America.
The action Alcoa has closed up 6.34% to 9.90 dollars after the group, considered a good barometer of the U.S. industrial sector, has emerged, to everyone's surprise, a positive net income in the first quarter of 2012, benefiting from improved market conditions.
"Expectations were very low so a positive start to the earnings season is a positive sign," said Jack Ablin, Investment Officer at Harris Private Bank.
"That said, we can take stock of the health of other sectors throughout the week and the market will perhaps stand still before a complete picture."
Google, JPMorgan Chase and Citigroup are among the heavyweights of the American side who must publish their interim results this week …. The fall of some
….. 1.5% S & P 500 Tuesday was most marked in four months. Investors are now assessing whether the downturn on Wall Street-which is up sharply since the beginning of the year is an opportunity to enter a market that remains on a good launch e last six months.
Two hours before the end of the session, in its "Beige Book", the Federal Reserve said the U.S. economy had continued to grow over the last months of winter, adding that rising gasoline prices starting to worry consumers and businesses throughout the country.
This appreciation of the Fed had little impact on the trend of the day.
Concerns about the debt crisis of the euro area eased somewhat after the statements of Benedict Coeuré, board member of the European Central Bank (ECB), saying that the purchase of government bonds remained a weapon available to the ECB.
The Apple stock lost 0.36% to 626.20 dollars after the U.S. Department of Justice announced legal action against Apple and two large e publishers for agreement on the price of electronic books.
The way Johnson & Johnson has little reaction (-0.11% to 64.13 dollars) a verdict of a judge of the State of Arkansas saying that the pharmaceutical company was fined a , 1 billion dollars after being convicted by a jury of having used illegal tactics to market a drug.
Exchanges of Brazil should grow twice as world trade over the next 15 years a cosmetics factory in Sao Paulo
The Brazilian economy is booming: according to HSBC Trade connections, Trade Forecast (February 2012), the Brazilian business know in the next fifteen years a growth of 163%, double that of world trade (86% ). Over this period, the country is expected to arrive in sixth place worldwide for the growth of its trade. This year, the growth of its economy expected to remain at 3% (as in 2011) and accelerate to above 3.5% in 2013, according to forecasts of Euler Hermes. The organization of the FIFA World Cup in 2014 and the Olympic Games in Rio in 2016 are short-term opportunities.
The big challenge for this huge country, rich in raw materials: building infrastructure (roads, railways, power lines) to open up the interior, where the raw materials, and link it to major cities growing, like Rio de Janeiro, Sao Paulo and Belo Horizonte.
Another government priority: to develop industrial production. The country is clearly positioned to become the leading producer of ethanol from sugar cane. The emergence of a middle class eager to consume is also a great opportunity for investors.
Are real opportunities for businesses … provided they are aware of the constraints: complex tax system, high taxes and powerful bureaucracy.
These obstacles do not discourage emerging countries like Vietnam and Indonesia but especially China, whose trade with Brazil expected to increase substantially in coming years. The proof is opening this year's huge port complex Superporto do Açu, one of the largest in the world, and already dubbed "the highway to China".
Unemployment in the euro area reached a high of almost fifteen years in February, with more than 17 million unemployed, and economists expect a further deterioration in this years.
The unemployment rate in the 17 countries in the region stood at 10.8% of the workforce, up 0.1 points from January, according to data published are from Eurostat.
"We expect that it continues to rise, reaching 11% by the end of the year," said Raphael Brun-Aguerre, economist at JP Morgan in London.
"There are redundancies in the public sector, incomes are falling, consumption is sluggish. The prospect of economic growth is negative and will reinforce unemployment, "he said
. The level reached in Feb February – for the first time since June 1997 – reflects the tenth consecutive month, an opposite trend to that enjoyed by the U.S. economy, credit e jobs since last year
. Economists are divided on the effectiveness of austerity policies adopted es by European governments to reduce their debt, the economic crisis affecting tax revenues, the purchasing power of consumers and investors' confidence that collapsed the year last.
Other statistics released Monday show a contraction of manufacturing in the euro area for the eighth consecutive month in March, reinforcing fears of recession in the European bloc.
North-South disparities
Despite these negative outlook, the European Central Bank (ECB) should maintain its interest rates to 1% at its monthly meeting Wednesday, rising oil prices keeping inflation above 2%, the limit under which it intends to maintain it.
"With inflation remains stubbornly high in the euro area, there is little hope of a recovery in consumption," said Jennifer McKeown, an analyst at Capital Markets.
The debates between members of the ECB in Frankfurt are more complicated than expected a little more optimistic this year fizzled, the contraction of the activity in manufacturing and construction affecting even Germany, the strongest economy of the area.
On the employment front, the northern countries of Europe, however, remain better off than their southern partners, whose economies are sealed by years of uncontrolled ready , an inadequate labor laws and a very competitive industry.
The unemployment rate remained stable in Germany and to 5.7% of the workforce in February, when it peaked around the Mediterranean, from 9.3% in Italy to 24% in Spain, which holds the sad record of the euro area.
The Spanish government has yet to unveil a great austerity budget aimed at saving € 27 billion more by the end of 2012 to fulfill the goal of deficit of 5.2% of GDP and regain investor confidence.
Beyond the euro area, the unemployment rate in all 27 countries of the European Union amounted to 10.2% of the workforce in February , or 24.5 million unemployed, against 10.1% in January.
Promise to close in 2010, the Bosch plant in Venissieux, a suburb of Lyon, rising from the ashes thanks to the manufacture of photovoltaic panels in the most modern and important production unit of this type in France.
The German group intends to make this site the bridgehead of photovoltaics for southern Europe and northern Africa, and a model of "French production" that is central the campaign in France.
After eight months of construction, the new production of photovoltaic modules from Bosch is being phased in and the 200 employees of this plant produce in full capacity by July, 2000 panels per day, or 600,000 modules per year.
"This corresponds to the consumption of 51.000 French households, "explains Jürgen Pressl, board member of Bosch Solar Energy
. The plant is yet act as industrial miracle …
…… In 2010, the Bosch plant in Venissieux was promised at the close. Specializing in the production of diesel injection pumps, she was condemned by a falling market.
With an investment of 25 million euros, the conversion of the site has saved 200 of the 450 jobs previously identified.
"The successful transformation of Venissieux is the result of an exemplary social dialogue, and unique German enough", Guy said Maugis, president of Robert Bosch France.
To switch to the manufacture of injection pumps to that of photovoltaic modules, French employees of Bosch had to go to Germany for training.
"I was immediately voluntary," said Christelle Trioulaise, 45, who is placed in quality control. She looks forward to working conditions, "more comfortable, quieter, more interesting as new".
"But above all I could keep my job, and that's the key," concluded the worker.
"MADE IN FRANCE"
The Bosch Group has installed the new production unit in the Lyon region, not by philanthropy but by strategy.
"The French market is very important to us and here we must propose the 'Made in France', we need to produce locally," said Axel Becker, who led the project to convert.
Jürgen Pressl also emphasizes the proximity to markets such as Italy, Spain, North Africa, who are "potential customers".
"Vénissieux must become the bridgehead for photovoltaic southern Europe and northern Africa," he said.
Bosch's objective of becoming the market leader in photovoltaics, renewable energy according to the German group is the trend of the future, the era of fossil fuels being in his past.
The group spent more than four billion euros for research and filed over 4,000 patents in 2011.
Yet its leaders recognize that on this intensely competitive market, the game is not won, and that investment is still far from profitable.
"The price war is exacerbated must pass some time, and ultimately, we think about winning a very high quality of our products," said Jürgen Pressl.
In 2011, Bosch Solar Energy has achieved a turnover of 800 million euros, down from the previous year due to falling prices for modules.
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.
Free said Thursday a "huge success" for its mobile business launched earlier this year, but without giving the number of its subscribers, and promised to accelerate the deployment of its network, subject of much controversy.
The internet service provider has a spectacular entrance in January on the French market of mobile telephony with offers at bargain prices, forcing competitors to lower rates of part of their bids to try to stem the exodus of their subscribers.
The speculation is rife, since the number of subscribers attracted to entering the fourth, recently estimated at 1.5 million by the CEO of France Telecom.
The parent company, Iliad, does not figure in its earnings release issued on Thursday, making only a state of "tremendous success" commercial activity of its rolling the dice goal of the year.
The chief financial officer, Thomas Reynaud, said that the numerical results would be unveiled in May to mark the publication of first quarter figures.
At 10:04, the title earns 0.34% to 99.09 euros, while the sector index losing 0.2% in the same time.
The group led by Xavier Niel plans to accelerate deployment of its network in order to have 2,500 sites equipped by the end of the year, against a thousand now.
Nearly 250 million additional investment expected to be incurred in 2012, after more than 400 million euros last year, said Thomas Reynaud at an international ; Conference call.
In total, the group's investments jumped nearly 50% last year to 1.2 billion euros, largely as a result of deploying the new Freebox Revolution and the frequency acquisition "4G".
This sharp rise affected the free cash flow of the group that spring -413 000 000 euros for all of 2011 while net income excluding items declined 7% to 255 million.
Iliad has also released last year a turnover of 2.12 billion, up 4%, operating profit (EBITDA) of EUR 833 million ( also 4%), against 2.14 billion and 861.4 million euros expected on average, according to Thomson Reuters I / B / E / S.
For 2012, the focus group said a surge in sales with a growth of over 5% in the fixed without providing forecast figures for the mobile.
ACCELERATE THE DEPLOYMENT OF MOBILE NETWORK
Free Mobile has already upset the French telecom sector, only two months after its launch.
SFR has already said anticipating a decline of 12 to 15% of operating profit (EBITDA) this year while Bouygues Telecom expects a decline of 10% of its turnover.
France Telecom did not provide detailed forecast but also table for the whole group on a sharp decline in its operating cash flow from 2012 to 8,000,000,000 euros, and EBITDA of the incumbent is expected to decrease to one billion euros this year.
Stéphane Beyazian, analyst at Raymond James, said the mobile revenue per subscriber is expected to contract a third on average in the sector over the coming years. Nomura expects the bank for its part the result of operational activities of the three mobile incumbents expected to fall by 28% by 2015.
The launch of Free Mobile has however experienced some delays in the ignition. Some consumers have had to wait several days or weeks before receiving their SIM cards because of congestion of applications portability within the agency responsible for managing them.
The new entrant competitors were quick to question the proper functioning of its network and the controversy has been widely reported in the press.
Free Mobile has been charged off its branches to rest largely on the network of France Telecom, with whom he concluded a roaming agreement.
This series has led to many twists and turns of the policeman to lead a second telecommunications network inspection of Free Mobile, which demonstrated according to ARCEP, that it was meeting its commitments.
Thomas Reynaud acknowledged that about 90% of Free mobile traffic currently passing through the network of France Telecom, while stress that the network deployment of the fourth entrant in e ; silent still in its infancy.
"Our priority in 2012, is make up of mobile subscribers in the network and deploy as soon as possible", he said, adding that it was too early to say whether the group should pay more than a billion euros initially planned as part of the roaming agreement concluded for six years with France Telecom.
GDP grew by only 2.7% in 2011 against 7.5% in Brazil in 2010. The Brazilian economy has actually stagnated in the third quarter. Bay View of Barra da Tijuca in Rio de Janeiro
Brazil's economic growth slowed to 2.7% in 2011, after reaching 7.5% at the end of fiscal 2010, according to data released Tuesday by the Brazilian Institute of Geography and Statistics (IBGE, public). This is slightly lower than the government forecast that predicted a GDP growth of around 3%, confirming a slower growth of the Brazilian economy was already expected by the experts because of the international crisis.
The Brazilian economy grew by 7.5% in 2010, in frank recovery from the crisis of 2008 and 2009. The sectors that grew the most in 2011 were the food (3.9%), services (2.7%) and industry (1.6%), according to IBGE.
In the fourth quarter 2011, GDP in the first Latin American economy grew by 0.3% over the third quarter and 1.4% over the same period in 2010. From July to September, growth had stagnated écomomie Brazilian.
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