World and National News

Potash did not find "white knight", but, as expected, refused the offer considered inadequate for BHP Billiton. It is thus a failure for BHP Billiton, one week after Potash rejected his friendly offer of 38.6 billion dollars. "The board of directors of Potash Corp. is unanimous in its opinion that BHP Billiton's offer significantly undervalues the group and reflects neither its number one position in a strategic sector or our growth prospects unparalleled, "said the CEO of the Canadian group, Bill Doyle in a statement. The Canadian group calls its shareholders to reject hostile bid also BHP Billiton.At the London Stock Exchange, the markets welcomed information: the action BHP Billiton gained 2% to 1,857.50 pence in a market up 0.80%.

Confirming the information conveyed by some media as the Wall Street Journal and Bloomberg, Potash studying "alternative transaction" with other potential buyers. "Discussions are taking place with several of these third parties in order to generate value-creating alternatives" Potash Corp. has developed.

The Wall Street Journal, a consortium led by a Chinese investment fund, Hopu Investment Management, is studying the possibility of submitting a bid to Potash.As for Bloomberg, he argues the tracks of Chinese Sinochem and Brazilian Vale.

The world's largest producer of potash hopes to make this operation more than 39 billion dollars (30.7 billion euros) proposed by BHP Billiton.

The Anglo-Australian mining giant BHP Billiton last week announced a hostile takeover bid that values Potash Corp. of around 40 billion dollars, 31 billion euros, which opened formally on Friday.

Now you are not supposed to compromising with your needs just lack of few funds as payday loans are available to you.

The world leader in chemistry, German BASF, is expected to sign Tuesday the acquisition of fellow Cognis according to the Financial Times Deutschland. Owned by Permira and Goldman Sachs, Cognis manufactures additives for cosmetics and detergents.

According to sources close to the case interviewed by the newspaper, the transaction amounted to 3.2 billion euros. In 2009, sales of Cognis representing 2.6 billion euros and EBITDA was $ 364 million. On its website, the company states employ approximately 5,600 people and be present in thirty countries.

Originally, Cognis was a subsidiary of Henkel, resold in 2004 to 2.5 billion euros. In 2006, the efforts of its new owners to sell it failed. In recent years, the company split from two of its five subsidiaries.BASF has already bought in 2009 the Swiss Ciba for 3.8 billion euros to strengthen in the mill.

Who would have thought? Germany and France have finally decided to combine their efforts to support the euro. Nicolas Sarkozy and Angela Merkel have they understood it was time to coordinate their efforts to support a currency previously sealed by the distrust of markets? Since the famous rumor reports of market intervention by the European Central Bank on foreign exchange markets to support the euro, the single currency has a significant revival. After touching a low of less than a 22 dollar late Tuesday, the euro was close to the $ 1.25 to 19:50.A good time to announce this coordination.

Visit Brussels on May 21

"They agreed that Germany and France will work in close coordination with each other during the meeting which will begin May 21 in Brussels, said yesterday evening, the spokesman for Angela Merkel.

However, President of the Republic, during a joint press conference with British Prime Minister, David Cameron, argued that there was "no disagreement" with the German chancellor. Instead, "there is complete agreement" on the principle to consider new sanctions against the countries of the euro zone whose deficits are too large.

The rider from Germany irritates Lagarde

The two leaders have long debated on Thursday by telephone. No doubt they spoke of the many episodes that have seen the two countries criticize each other via the press.It all started last March, when Christine Lagarde called Berlin had to change its economic policy. Germany was obviously not appreciated that France has registered a record deficit could give lessons to an exemplary country in this field.

Two months later, around Angela Merkel to encourage European countries to follow its example in terms of budgetary discipline quick cash. A rider that markets have not appreciated at all, no more than those conducted by Berlin on Wednesday on short sales. Investors are seeing is a sign of lack of coordination between Germany and its European partners. Christine Lagarde, Minister of Economy, also regretted the unilateral decision.While stating that there was "no distance between Paris and Berlin," the minister argued that the euro was not in danger ", again taking the cons-foot German Chancellor.

"The real problem with the euro area, growth, not debt"

Guests from France 2, the Director General of the International Monetary Fund, Dominique Strauss-Kahn hammered, meanwhile, that "the euro is not likely to explode," recognizing that the risk would be that it "goes wrong" "The real problem with the euro area is not only the debts and deficits, but also and above all the growth.How is it that the International Monetary Fund expects 3% growth in the United States in 2010 and only 1% for the euro area? If the euro area showed a growth of 3%, we do not speak Greek crisis and even less deficit, "said IMF Managing Director.

Europe has always had a strong Franco-German axis

"To Europe, we must anchor Germany," said General de Gaulle. Europe has always had a strong Franco-German axis: De Gaulle and Adenauer, Giscard d'Estaing and Schmidt or Mitterrand and Kohl. Put under pressure by the Greek crisis, Merkel-Sarkozy axis must reaffirm its strength to ensure a better economic governance.

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The bill to regulate the consumer credit finally arrives Wednesday at the National Assembly. Already adopted by the Senate in June 2009 and debated in committee in the National Assembly, he aims to "facilitate access" to credit for consumption and to "avoid excesses". Before the deputies committee, Christine Lagarde, Minister of Economy has defended a credit "contributes massively to support certain industries, such as mail order and the automotive sector," while not forgetting the excesses and abuses to which this credit may result if not properly supervised. "

The Bill seeks end to "ensure responsible distribution of credit, creating additional obligations for industry (specialized institutions, supermarkets).As it stands, the full account and delete the "black spots" of revolving credit (also called renewable) often lead to debt for the most vulnerable households. The revolving loan indefinitely should no longer be allowed, Lagarde law limiting the repayment term (3 years for a credit less than EUR 5 000). Likewise, financial institutions will be forced to offer not just a revolving credit (average 16%) on sales premises. They will also make an alternative offer of personal loans (average rate of 7%). The ads "aggressive" will also disappear. New posters should be explicit and clearly mention the term credit. Exit therefore, the promises of "air cushion".The appropriation in which the consumer "in without the knowledge" in connection with the purchase of a loyalty card, and the "credit blind", without checking the creditworthiness of the customer will also be banned unsecured personal loans! ???!!!???!!!. The law also aims "to better help people with debt problems," Christine Lagarde said on Wednesday that will make new proposals to strengthen the fight against indebtedness.

The positive file divided

"In the future the consumer will certainly be better protected. But financial institutions will still be able to sell massive amounts of revolving credit, sorry Nicole Perez, National Director of the UFC-Que Choisir.For its part, the Afub said that "beyond these measures, it is certainly essential to note their failure to control a sustainable revolving loan and to fight against the danger of debt."

Overall, consumer groups have asked that the text should go further by imposing such a complete separation between loyalty cards and credit cards. The bill also proposed withdrawal of parliamentarians of all stripes, many calls for reform of the rate of wear (maximum interest rate close to 20%) and the creation of a positive file listing all loans to individuals. This latter issue has divided many years, consumer groups, credit institutions and politicians. Tuesday Cresus the Association Agreement and the bank have also called for the creation of a national credit.

In the Assembly, the passionate debates ahead. More than a hundred amendments have been tabled.

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While Free is soon to land on the mobile phone market, operators are in battle. SFR puts together all the stops to improve coverage of its 3G mobile network.

Behind the obligations contained in its license, the operator covers only 80% of the population, instead of the 98% required. Rival Orange is also delayed but to a lesser extent, since it covers 85% of the population. Bouygues Telecom, which started later, he is ahead: it already covers 79% of the population for a requirement of 75% in late 2010.

This topic will be up for discussion with the regulator (Arcep) in December. Orange and SFR, which could theoretically fine, should actually commit to a new schedule of obligations.

SFR, which has invested 1.4 billion euros in its network in 2009, promises to invest at least as much this year.A reminder that the business of mobile operator needs to have deep pockets. Meanwhile, he announced Tuesday the sale of a new cabinet, "SFR 3G Home," sold 299 euros. Clean the box Web client, this case is actually a mini-antenna technology ( "femtocell"), is improving coverage at home.

"Tool of comfort"

"It is a tool of convenience for our customers. This provides a good mobile coverage in the back room, for example where the mobile goes wrong, where in his second home, "says Jean-Marc Tassetto, general manager marketing and public SFR. 82% of subscribers who do not pick up well at home, would be interested in this type of product, according to the operator. Another initiative SFR announced Tuesday the launch of an offer Internet access via satellite (from 34,90 euro per month dish included).It is for 500 000 homes, located mostly in rural areas, still lack access to ADSL. SFR for the occasion partnered with satellite operator Eutelsat. Such an offer has already been launched in early 2009 by Orange.

Along with improved network coverage, the operator must also cope with the sharp increase in traffic. Indeed, with unlimited internet boom on phones, consumers are now e-mail, surfing, downloading video, music streaming. All activities demanding network capacity, leading all operators to invest to avoid saturation.