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This is without state support that Ford has managed to overcome its difficulties. The U.S. manufacturer announced Thursday it had made a net profit of 2.699 billion dollars over the full year 2009. A performance to be compared with the heavy loss of 14.766 billion harvested in 2008. Over the year, turnover was down to 138.1 against 118.3 billion in 2008.

The group included supporting a very successful fourth quarter. Over this period, the second largest U.S. behind General Motors reports net earnings of $ 868 million against a loss of about 5.978 billion dollars a year earlier. The per share earnings is 25 cents, hardly less than the 26 cents analysts who had forecast. Over this period, revenues totaled $ 35.4 billion against 29 billion a year earlier, an increase of 22%.

Before the opening of Wall Street, the title jumped 2.68% to 11.86 dollars.

$ 500 million quarterly savings

To obtain this result, Ford has relied on reducing structural costs of automotive business payday loan . A total of 500 million dollars were saved in the fourth quarter. The group did not hesitate to pursue a higher price for its vehicles. His arm Ford Motor Credit has contributed to higher profits in this period with a profit before tax of $ 696 million against a loss of 372 million in 2008.

Ford is the only manufacturer of the "Big Three" of Detroit (with General Motors and Chrysler) have not gone bankrupt. It is reassuring for the future and plans to write "a profit before tax and excluding exceptional items for 2010, without specifying numbers.In addition to profitability, the group is including a U.S. car market between 11.5 and 12.5 of vehicles this year. In the year 2009 in the United States, sales at Ford fell 15.4% to 1.68 million units. Note that, after hesitating a large part of the morning, the Paris Bourse is moving more strongly in the green then qu'affluent results of U.S. companies show no surprises.

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Morale is not high on the Paris Stock Exchange in recent days and it should be so again Tuesday. After closing sharply lower Monday, markets are expected in the red today.: An hour of opening, the future Cac 40 lost 1.02% to 3782 points. The slump in Asian markets this morning gave a glimpse of what lies ahead for financial markets in Paris. In Asia, investors were not convinced by the rebound on Wall Street yesterday.

Among these, caution prevails until several important macroeconomic statistics across the Atlantic. Information should be filtered on the meeting of the Monetary Policy Committee of the Fed's on this Tuesday. There will be 15 hours the index of house prices (the day the markets had suffered a blow after the publication of resales in the United States that emerged in sharp decline from 16.7% in December).At 16 hours, will be revealed indices of consumer confidence and U.S. investors.

As for American publications, markets await the annual results from Yahoo! after market. It will also Texas Instruments, Johnson & Johnson and Dupont.

The Paris markets will also keep an eye on European statistics. We know the cost of household consumption in December (8.45), the construction of housing (8.45), the German IFO index (10 hours), the current accounts of the ECB (10 hours) and GDP in the fourth quarter in the United Kingdom (10.30).

The detailed values to follow shortly …

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"The Asian exchanges dominated by the wait

Following the proposals made by Barack Obama in order to limit both the size of banks and their risk-taking, the banking and financial markets have reacted badly. In exchange, the bank shares continued to tumble yesterday began to regard the U.S. markets. Do not panic however, as the project of U.S. President does not imply that the industry feared most: a dismantling of the largest U.S. banks. However, fear of an escalation, particularly during the passage of these proposals to Congress was clear Friday.

Eager to appear aggressive towards large banks unpopular elected officials of both parties could, for example, insist on a return to the previous rules in 1999, prohibiting commercial banks from entering the market trades.This would lead to force a breakdown of major banking groups like Bank of America-Merrill Lynch, Citigroup and JPMorgan Chase.

This is not the will of the White House. But Republican John McCain and his Democratic colleague Maria Cantwell nevertheless, for several days, submitted a proposal to that effect. "It seems that many proposals of President Obama going in the right direction," said former Republican candidate for the presidency. "Let's try to solve problems", commented the other hand his Republican colleague from Arizona, Jon Kyl."Do not seek a scapegoat that diverts attention from the mistakes of this administration," stated the curator.

New Principles

The Democratic chairman of the Committee on Financial Services of the House of Representatives, Barney Frank is aware of the danger of an escalation develop paydayloans . While he endorses the new principles set by Barack Obama, seven months after the introduction of the reform project finance. But he said he is not totally prohibit the "own-account trading 'of the banks.

While banks such as JPMorgan Chase and Goldman Sachs would be proposed by the White House forced to get rid of some of their activities in the capital and to abandon some of their own trading account.But Barney Frank said, "it would be wrong to demand that banks are withdrawing quickly from all hedge funds and private equity funds involved." The influential Democrat feared the consequences of massive sales made in an emergency.

Tim Geithner, Treasury Secretary, has lost influence in the White House in this case. He was dismissed in June, the approach taken today by Barack Obama to reform Wall Street. He feared that it unnecessarily complicates the debate. Before a group of bankers, closed Thursday night, he confirmed his reservations. Geithner seems to feel that the activities listed are not those who most leaden banks.

The immediate fate of the reform is in the Senate. Other more fundamental questions remain to be resolved.Within both parties, Senators remain divided, for example, on the same principle to let the Fed any role in banking regulation.

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"U.S. Banks: Understanding Reform

This is better, but there is still much work to do. This is essentially the message that the Fed has sent in its periodic report of the Beige Book.Although economic conditions in the United States will be "even slightly improved" since early December, loan demand and credit quality continues to decline in most regions, said Wednesday the U.S. central bank.

"Even if economic activity remains at a low level, the situation has further improved slightly and these improvements are a wider geographical perspective," according to information transmitted by the twelve regional branches of the Fed.

In the previous report, published December 2, the Fed had estimated that the situation had "improved slightly" in late October and November.

The activity of banking and financial sector remains a concern is that the central bank in the report prepared for the next meeting of the Monetary Policy Committee of the Fed, 26 and 27 January.

"The Fed must raise interest rates" (President of the Philadelphia Fed)

The other black economy is unemployment, according to central bank: "the situation on the labor market remained generally poor, with modest increases in wages appearing in only a few regions.

Consumption expenditure of households, the traditional engine of U.S. growth, "have been at parties year end slightly higher than in 2008 but still well below 2007 levels," said the central bank.

Parallel, were the speeches of presidents of the Philadelphia Fed's Charles Plosser and Dallas, Richard Fisher, the U.S. outlook.The first said that sluggish job market should not prevent the Fed raise interest rates, while the latter said that the Fed would begin to withdraw its measures of accommodative monetary policy to avoid an increase inflationary pressures.

At the same time, Washington announced that the deficit of the United States increased from 77.5% to 91.854 billion dollars for the month of December compared to December 2008.

Shortly after the publication of the Beige Book on Wednesday, the Dow Jones up 0.36% to 10,665.65 points, after opening up 0.15%.

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Sixteen votes to six abstentions and one vote against. Ben Bernanke looks set to retain the reins of the U.S. central bank for a second term after voting to approve the Banking Committee U.S. Senate on Thursday. However, to formally renew its functions during the next four years, this decision must still be validated by the full Senate. However, this is quite good for Ben Bernanke, already distinguished yesterday by Time magazine as "Person of the Year" because of its good management of the crisis.

The measures taken by the Fed chief has also been welcomed by the chairman of the Senate Banking Committee. Christopher Dodd has said that "can be attributed to Mr. Bernanke some credit for its crucial role in the events of last fall.Had he not, with others, including some on the committee acted at a critical time for our country, we would have a very different and far more catastrophic. "

In this concert of praise, some voices are discordant. Republican Senator Jim Bunning, who did not hide his disapproval of the continuation of Ben Bernanke, has mocked the distinction of Time, stating it had been previously awarded to Joseph Stalin, Yasser Arafat or even Adolf Hitler. " "I hope that Ben Bernanke will run better than they" wished Jim Burning. The independent senator from left, Bernie Sanders, not a member of the Banking Committee, has even questioned the president Barack Obama asking him to reconsider his decision last August to extend Ben Bernanke to head Fed.Despite these protests, Ben Bernanke should be renewed without a hitch.

"Ben Bernanke, voted" Personality of the Year "by Time

"And soon it will be like Citroën: the air conditioning for 1 euro more. Where is it? ". On the automotive forums, the news did not pass. Porsche diffuse spot on M6, BFM TV, LCI, Paris Première and ITV to sell its Cayman and Boxster S? Almost unimaginable yet true.

For the first time in France and since mid-November, the Stuttgart manufacturer has opted for a TV advertising to sell a vehicle. His last appearance on the screen goes back to 2000 but at the time, it was a pub where Porsche boasted the success of the band!

This time, he must sell. This is why the German broadcasts a spot almost disappointing simplicity where a car rolls, filmed from all angles, with a traditional voice. Work is yet signed the chic Parisian agency Dufresne Corrigan Scarlett, who manages the brand communication for 10 years.Criticized on the form, she said it is difficult to advertise for a sophisticated sport when the Regulatory Authority's professional advertising bans motor noise or incentives to speed. "For designers, it's hell," says Olivier Bouas Lawrence for Development.

"Watch the video spot:

Despite the size of the challenge is that the agency has proposed launching a campaign builder, "because we've noticed that see a Porsche in motion is less frustrating than to see the frozen ice on paper" Franck Lachaize said innocently, and CEO of the agency. "Anyway, the issue is not whether the creation is good but if the message of accessibility of the brand is perceived, slice Bouas Lawrence Olivier.

Breaking the myth

The message in question is more surprising that the spot itself.Porsche has for the first time on television on a payment by installment. It is an offer of financing lease with option to purchase (LOA). The Cayman S is offered at 550 euros per month for 36 months after a cash contribution of 19,262 euros in first rent and then the final payment of a check for 32,436 euros. Total cost of vehicle: 71,693.22 euros TTC. The sales technique, based on that average range of manufacturers, shocking the purists.

For management marketing group, no controversy. "In the public mind, our prices are 20% to 30% more expensive in reality. With this LOA, we wanted to challenge, to prove that driving a Porsche is possible.It is true that not used to seeing it on the high end, but it must change, "is justified Henckes Colas, Head of Marketing of Porsche France.

Raking in the wider public

Since the launch of advertising, management chasing rumors circulating on the net, accusing her of selling Porsche cars and demystify the mark. "This is false. We do not allow ourselves to surrender. Moreover, the spots are very focused and does not concern the general public, "he defends Colas Henckes.

But the speeches can not hide reality. So far, the brand did not need to appear on TV to inspire envy. The crisis has changed things. Porsche should boost sales of its Cayman and Boxster S, segment 2 seater coupe and roadster in difficulty reflecting lower sales by 35% between 2008 and 2009."It is true that we must be more aggressive in times of crisis," says marketing manager, who welcomed the passage of the arrival of new types of customers despite a highly targeted media plan. "Television is a magical medium," says Franck Lachaize, director of communications agency.

Porsche is now obligated to match the methods of BMW, Mercedes and Audi, who compete in multiple segments. A shift in brand communication, which marks the end of an age-old marketing strategy based on discretion.

Spun off

This turn is motivated by the results fell into the red. In fiscal year 2008/2009 ended in late July, the German said sales fell by 12% to 6.6 billion euros. Production fell 27% to 76,700 cars and accounts have resulted in a net loss of 3.6 billion euros.

In addition to the crisis automobile manufacturer has trouble swallowing the loss of the battle he engaged in Volkswagen (VW) for the acquisition of the latter. It eventually will become VW owns 49.9% of Porsche by 2014. The failure of this merger has boosted the net debt from 3.1 to 11.4 billion euros in 2008/2009 due to the transfer of much of its options on VW shares for a value far below the purchase price. This deconsolidation, recorded in the accounts for 2008/2009, will continue. It will result in a loss of "several billion" in the year 2009/2010, according to Chief Financial Officer Hans Dieter Poetsch.

Only solution based on a recovery in sales "during 2010". To sell, must go on television. Even when called Porsche.

All about the payment Cesu or know the steps to create a service activity is possible by going to the salon services to the person of 19 to 21 November in Paris, Porte de Versailles. According to Alain Bosetti, Chairman of the Fair personal services, "this national event bringing together the entire profession is essential to address issues of heterogeneous public, to relate structures and individual providers, facilitate the meeting between stakeholders home, job seekers and prospective employers.

Responses adapted to each profile

According to organizers, more than 23,000 private and professional visitors and 250 exhibitors are expected this year.For individuals, the exhibition will provide an opportunity to find answers to their questions about the tax advantages of personal services, operation of CESU, the status of particular employer, their obligations … Through including conferences with themes as varied as "choose a provider company," Cesu banking instructions "or" need a used home? -Become a particular employer. " They will also have the opportunity to meet with service providers and compare their offers.

The exhibition is also an opportunity for industry professionals to find solutions to create in this area of work and meet with franchise networks expanding. Lectures will review aid to the creation of businesses in the area of personal services and franchising.They will also discover paths of entrepreneurs where their peers will share their experiences.

Speakers at Home and job seekers will have the opportunity to meet companies that recruit, make contacts and learn about training possible. Business leaders and HR managers can assess the Cesu as a tool for retention of their employees and discover all the services offered to employees through the Village of services to employees. They will learn include the cost of these services for the company.

More information on the Show site services to the person

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Tax havens are not dead. This is proclaimed a platform for NGOs and actors of civil society, Tax Justice Network (TJN), releasing on Monday a list of alternative tax havens. To develop this new classification, the result of 18 months of work, the international network has developed an "index of financial opacity", composed of twelve points and takes into account the degree of secrecy of a state and its weight in international finance. Sixty states or territories and are listed in this ranking. In detail, the U.S. state of Delaware truste first place. The territory is accused of ensuring banking secrecy, not to hold public register of trusts (financial firms) and not sufficiently comply with international rules on taxation. Luxembourg and Switzerland on the podium.

The top five on the white list of OECD

The Cayman Islands take fourth place. The City of London (5th) suffers fewer areas of opacity, as the international network, but it does not keep the ultimate beneficiaries of public corporations and does not "appropriate access" to information bank. Hong Kong takes tenth place. For Tax Justice Network, "is probably in the Top Ten of opaque areas identified as focuses, globally, dirty money and that of tax evasion.

But surprisingly, the top five in this ranking are listed "white" virtuous countries of the Organization for Cooperation and Development (OECD). Of the top ten states in the list of NRT, only Singapore (8th) is still ranked in the gray list of the OECD.This new classification thus casts discredit on the lists prepared in April by the OECD, which refers, in Tax Justice Network, criteria inappropriate and insufficient. Note also that Europe is well represented since most of Luxembourg, Switzerland and the City of London, Ireland (7th), Belgium (9th), Austria (12th), the Netherlands Netherlands (15th), or the Portuguese island of Madeira (17th), all bleached also by the OECD are in the classification established by the Tax Justice Network.

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Around 15:00, the CAC 40 fell by 0.05% to 3890 points. Yesterday, the Paris index hit a new annual record, advancing 1.69% to 3892 points. Traders remained cautious, fearing a wave of profit taking ahead of 4000 points. The success of Apple, released yesterday evening after the close of Wall Street, have long supported the market, like those published at 13:30 by Caterpillar. The group expects a recovery in the global economy in 2010. But the poor figures for housing starts in the U.S. temper this optimism. These last were up 0.5% in August to 590,000 annual rate, and while the market was expecting 610,000. The number of permits issued fell 1.2% from the previous month to 573,000 construction permits on an annual basis, against 595,000 expected by analysts.

The producer prices fell in September by 0.6% compared to August (1.7%).This decrease is due to the decrease of 2.4% of energy costs. Excluding food and energy, the index plaice 0.1% against 0.1% expected by economists.

Values follow

LVMH (+0.35%) announced a turnover decrease of 0.6% to 4.135 billion euros, a figure conformed to market expectations. The group said a "better" compared to earlier this year.

In an interview with the newspaper Les Echos, Sagnières Hubert, who will become CEO of Essilor (-0.67%) from the first next January, is a point on the group's goals. He remains calm on the operating margin for 2009, but was cautious about the turnover.He plans to continue its acquisition strategy.

BioMerieux (+1.51%) achieved a turnover of over 9 months of 895 million euros, up 12% and confirms its target of organic growth of 5 to 7% in 2009, excluding the positive impact related to the epidemic influenza A.

Bouygues Travaux Publics, a subsidiary of Bouygues Construction, will build a road tunnel in Miami for $ 440 million. The title Bouygues rose 0.27%.

The operating margin of Sword Group (-1.21%) stood at 17.25% on the first nine months of 2009 against 17.7% during the same period of 2008.

In the first nine months of 2009, sales of Guyenne et Gascogne (+0.15%) totaled 431.4 million euros, down 1.3%.

Soitec (-2.73%) achieved a turnover of 50.3 million euros in the second quarter, a sequential increase of 14.8% over the first quarter of the year.

The turnover of Pierre & Vacances (+1.97%) totaled 516.5 million euros in the fourth quarter of 2008-2009, an increase of 2.4%. For the full year, sales amounted to 1.451 billion euros, up 2.3%.

Rental income accumulated Mercialys (-3.19%) at the end of September 2009 stand at 100.24 million euros, up 17.1%.

Cash Transgene (-1.47%) totaled 72.9 million euros at September 30, 2009, against 86.7 million at December 31, 2008.

On September 30, 2009, the turnover of Mr Bricolage (0%) stood at 412.3 million euros (+3.3%).

The French Union of Petroleum Industries (UFIP) denounced Thursday the weight of the new fuel taxes. Its president, Jean-Louis Schilansky explained that "the stacking of the fees will be as a result adds a little salt on prices at the pump." "This increase will be very, very important. Long ago we had no such increase since the government of Jean-Pierre Raffarin, said the president of UFIP.

The introduction of "carbon tax" could result in an increase of 4.92 euro cents per liter of gasoline, an increase of 3.8% of current price, and of 5.41 cents per liter diesel (+5.1%). The association of consumer UFC-Que Choisir has also considered Thursday that the impact of carbon tax on prices at the pump would be "anything but marginal.With the VAT charged to tax carbon per tonne of CO2 would cost over 17 euros, as announced by the government, but 20.3 euros, VAT included. As for gasoline, this would result in an increase of 5 cents instead of 4 cents as advertised. "We expect the government to increase from 19.6% the compensation offered to households," said Francois Carlier of the UFC. The government responded Thursday afternoon indicating that the carbon tax will be fully compensated for households, including VAT, and it was never intended to keep VAT revenue generated by the measure."The amount of compensation paid to households will be exactly equal to the amount collected or 2.65 billion euros, as indicated by the preliminary evaluation of the reform, released at the same time as the bill Finance "said the Ministry of Finance.

Up to 10 cents more per liter

The UFIP also pointed to the possibility for regions to increase the TIPP (domestic tax on petroleum products) to 0.73 euro cents per liter for gasoline and 1.35 euro cents per liter diesel. This event provided by the Finance Act 2010 for areas that have additional resources for the financing of sustainable transportation (rail or water) could add further notes the consumer.

"By combining all measures that apply to fuel in 2010, prices could rise to 8.8 cents per liter for gasoline and 10 cents for diesel," says the UFIP. The upper range, which represents 7 to 10%, includes in addition to the impact of carbon tax, the maximum increase of TIPP, but also indirect effects such as the impact of extending the licensing system of economy 'Energy and the requirement for incorporation of biofuels for fossil fuels. Vendors of energy that do not respect these ecological principles being penalized.

Biofuels: a five-station is equipped with only 20% of French service stations are currently equipped to distribute the new E10 biofuel, far from 60% to 70% predicted, said Thursday Jean-Louis Schilansky, president of the French Union of Petroleum Industries (UFIP).The President of the UFIP recalled that almost all cars registered after 2000 could use the E10, but it could have a corrosive effect on engines of cars unsuited. The French ethanol producers sold 7.4 million hectoliters in 2008 and plans to distribute 20% more in 2009 with the launch of the E10.