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Wednesday, May 25, 2016
Credit Suisse – Fitch lowers its rating to “A-” – Reuters
HONG KONG, May 25 (Reuters) – Fitch ratings said it had lowered a notch long-term rating assigned to the Credit Suisse, making the move from “a” to “A-”, the rating agency referring to the dependence of the Swiss bank to difficult capital markets.
“We believe that the implementation of the strategic restructuring will be made more difficult by the bond markets and more unfavorable capital markets in October, when the (restructuring ) has been reported, particularly in Europe and Asia, “says Fitch.
the agency added that the economic downturn at work in the Asia-Pacific region was going to test the new business plan of Credit Suisse.
the bank said it two weeks ago a second quarterly loss in a row, while saying that the difficult market conditions that plunged his accounts in the red in the first three months of the year are expected to persist at least until the second.
Under the leadership of its new CEO Tidjane Thiam, who took office in July, Credit Suisse conducted last year in a capital increase of six billion francs (5.4 billion) while reducing the wing in the investment bank, a more volatile business, to focus on wealth management, a more stable segment.
in late March, the bank announced a revised upward its program savings by 2018 costs, bringing it to 4, CHF 3 billion, including the key 6,000 job cuts.
Earlier this week, Moody’s Investors Service said on Monday lowering the rating of the senior unsecured debt of Deutsche Bank, returning from Baa1 to Baa2, and assign a stable outlook. (Umesh Desai, Benoit Van Overstraeten for the French service)
© Thomson Reuters 2016 All rights reserved.
Tuesday, May 24, 2016
The IMF notes a recovery in France and advocates further reforms – L’Obs
PARIS (Reuters) – The International Monetary Fund (IMF) raised its growth forecast for the French economy in 2016, to “close to 1.5%” against 1.1% previously while advocating further reforms to reduce unemployment and public debt.
While the trade union challenge to the reform of the Labour Code tightens, the IMF points out in the preliminary findings of its annual review of the French economy that the law El Khomri, currently before Parliament, would be a further step to improve the French labor market.
the IMF’s forecasts are similar to those of the government, which confirmed its scenario of a rise 1.5% of gross domestic product (GDP) this year after the announcement of a 0.5% increase in the first quarter.
the European Commission and the OECD (Organization for cooperation and economic development) are less optimistic and expect growth respectively 1.3% and 1.2% in 2016.
The IMF then saw an annual growth of 1.75% on average over the next five years.
NO BALANCED bUDGET WITHOUT REFORMS NEWS
in this context of economic recovery, the organization based in Washington believes that budgetary efforts must be strengthened. It reported a structural fiscal adjustment effort “has slowed down and is almost nil”, stressing that the fall in the public deficit (3.6% of GDP in 2015) was mainly due to the economic recovery and the reduction of the debt burden.
“Without additional measures, France barely reach the goal of a public deficit of 3% of GDP in 2017 and the structural balance target seems out of reach in the next five years, “it said in the report released on Tuesday.
the IMF emphasizes that the fiscal consolidation program of the government is vulnerable to any new shocks to especially as it becomes increasingly difficult to find savings to offset potential new spending.
“Since there is virtually no room for budgetary maneuver, it is important that France does not miss the opportunity offered by the current economic recovery to increase efforts to restore its fiscal shock absorbers and sound public finances, “he considers.
” What we concern is that the fiscal effort slows the contrary, the economic recovery should be harnessed to strengthen and accelerate this effort, “said Christian Mumssen, head of the IMF mission to France.
While welcoming the measures taken by the government in recent years for the job market – like the pact of responsibility and solidarity, the tax credit for competitiveness and employment (CICE) or Macron still the law, the IMF points out that “to sustainably reduce unemployment and debt, additional efforts are needed”.
“the El Khomri law is important and necessary to facilitate the recruitment, increase competitiveness of the French economy and flexibility of the labor market, “said Christian Mumssen, also evoking the economy modernization component provided in the so-called anti-corruption law” Sapin 2 “.
the staff recommended a parallel overhaul of the unemployment insurance system, which is currently under discussion between the social partners.
They suggest increasing incentives to return to employment, such extending the minimum contribution period, or by introducing degression of benefits.
Among the other reforms mentioned tracks to improve the fiscal situation, the IMF points out that there are still avenues for economy likely to be implemented later “without weakening the French social model”.
He mentioned in particular for maneuver on pensions (to delay the age of actual retirement and streamlining plans special) and the health system (greater use of generics, cost rationalization in hospitals).
(Myriam Rivet, edited by Jean-Baptiste Vey and Yves Clarisse)
Deutsche Bank: Moody’s Downgrades his note. – Zonebourse.com
Moody’s Investors Service yesterday cut by one notch the rating of long-term debt to Deutsche Bank and its subsidiaries, considering that the strategic plan of the German bank was risky.
While she was up ‘here’ Baa1 ‘, the group’s credit rating now finds itself at’ Baa2 ‘with a view’ stable ‘, while the deposit rating changes from’ A2 ‘to’ A3 ‘.
for Moody’s, the recovery plan implemented by Deutsche Bank is associated with a level of increasing risk.
‘the Deutsche Bank’s performance has been weak in recent quarters, with headwinds not negligible as the low interest rate environment and economic uncertainty that put the troubled group ‘, writes the rating agency in a statement.
Yesterday, Deutsche Bank focused its accounts in 2015 its provision for external fraud ‘to 475 million euros in 2015 against 20 million euros the previous year.
After these announcements, as Deutsche Bank posted gains of 0.9% 15.3 euros Tuesday at the Frankfurt Stock Exchange.
Copyright (c) 2016 CercleFinance.com. All rights reserved.
Monday, May 23, 2016
Fitch degrades the note from the Mozambican debt – Le Figaro
The Fitch ratings agency downgraded the rating of Monday the Mozambican debt from “CCC” to “CC” indicating “the probability” of a partial default, a statement said.
The recent revelation by Mozambique a concealed debt shows that there are “significant short-term repayment obligations that may soon cause a credit event,” says Fitch.
the Mozambican government has recognized in April the existence of a debt of $ 1.4 billion, representing 9.5% of gross domestic product (GDP) in 2015.
These loans were contracted in 2013 and 2014 by State-owned companies and were intended to finance the purchase of military boats and defense equipment.
a first payment of $ 25 million was made in March, but another 178 million dollars is due on May 24, said the rating agency.
“the doubts increased the capacity” of state enterprises responsible for these loans “to pay the interest on that debt and on the government’s ability to honor its obligations, “said Fitch.
the fiscal situation continues to deteriorate, especially after the decision of donors to cease their support in the wake of the discovery of this debt hidden.
this suspended aid amounts to $ 300 million (11% of the Mozambican budget this year) excluding $ 165 million of which the International Monetary Fund (IMF) has also frozen the payment .
“Even if the authorities are able to program reimbursements (…) the possibility of restructuring (…) could precipitate a credit event that Fitch would consider a bad debt “writes the agency does not, in that event, to degrade the sovereign rating of Mozambique to the rank of” partial default “(RD).
Ligue 1: There was the Brazilians TFC, and it’s really not … – 20minutes.fr
FOOTBALL William Matheus is about to leave the TFC. Like most of his countrymen, he will not have marked the history of the club …
The pioneer is called Joaquim Francisco Filho, in 1972- 1973. In modern times, nine Brazilians wore Toulouse colors including William Matheus, who is about to join Fluminense on loan
& gt;. & Gt; Read also: Ciao TFC, hello … Fluminense William Matheus will undergo an eleventh club
If several Argentines have marked the memory of purple fans (Beto Marcico and Alberto Tarantini, first place), it can not be said for their neighbors and south American rivals. TFC is still waiting for its Valdo, Raí or Ronaldinho who ignited the Parc des Princes with Paris Saint-Germain. A brief overview in the form of report card.
8/10
Fernandao (January-June 2004 )
Gone in a helicopter crash in June 2014, the striker on loan from Marseille, but slow to smooth technique, only stayed a half-season at TFC. Time for three goals in 16 games and significantly contribute to the miraculous retention elite promoted a moribund truce.
6/10
Eduardo Da Silva (2003-2005)
an honest attacker in a club that plays the maintenance. Here is how one could describe Eduardo Da Silva, arrived in Charleroi, Belgium, in summer 2003. Nothing fancy so. Unless this great and decisive goal for survival in Ligue 1, registered against Marseille … Jérémy Gavanon, the OM keeper then, still remembers this May 15, 2004 at the Stadium in Toulouse.
Paulo Cesar (January 2007-2009)
landed the Paris-Saint-Germain in the heart of the 2006-2007 season, the versatile international played a key role in the incredible third place TFC , at right middle. The next two years, marked by injuries and personal problems, will be much more complicated, before returning home to Fluminense.
5/10
Fabinho (2006-January 2008)
If Fábio Alves Félix remains in the memory of the fans, it is more for his hands six fingers for his performance. The former player of Cerezo Osaka, Japan, was not unworthy, even if he did not “marked the history of TFC” as he hoped his arrival. A little too carried forward for a defensive midfielder to taste Elie Baup, he was pushed out by the coach at the time. Hence the hasty departure to Corinthians of São Paulo.
Somália (2015-?)
His first season in Toulouse leaves a sense of unfinished business. Capable of evolving to the position of lateral or middle, in the center or on one side, this versatile player has not lifted all the mystery that surrounded his arrival Ferencvaros, Hungary. A goodbye.
4/10
William Matheus (2014-?)
The rear left is to be taken for one season at Fluminense. If he is under contract until June 2018 with the TFC, is hard to imagine the globetrotter 26 years reuse purple jersey. Often injured and confined to the reserve since the arrival of Pascal Dupraz, Matheus had previously played 24 games without really shine L1.
2/10
Francileudo Santos (2005-2008)
Tunisian naturalized Brazilian striker arrived in Toulouse against more than 3 million. Balance sheet? “A total failure,” says the former star Sochaux. After a first season honest, everything is deteriorating. Cold with Elie Baup, who believes more motivated
the Carthage Eagles by the TFC, the center forward will try to revive on loan at FC Zurich, Switzerland. It will then return to Sochaux, without much success.
Luan (2009-2011)
For the young left winger or striker landed 20 years Sao Caetano (D2 Brazilian), all started from a misunderstanding. At his first press conference in Toulouse, he says he wants “to become the top scorer” and “try to reproduce” the prowess of Cristiano Ronaldo. It will mark a time in 14 L1 matches, before going on loan to Palmeiras from summer 2010. The club São Paulo definitively commit a year later.
Unrated
Eduardo Ratinho (January-June 2008)
2007-08 winter transfer window, the less international 20 years on loan for 18 months TFC by Corinthians. “I do not know, ‘says the outset Elie Baup coach. The young right back “to Brazil” (translate: who can not defend) will leave the country the following summer without having played a game L1. His last known club?
Operario, D4 Seleção. To weave a bond of complicity with a Toulouse supporter, talk of Ratinho (and the legendary Czech striker
Pavel Fořt). Guaranteed effect
Keywords:.
Samsung: The Galaxy Note 6 with 6 GB of RAM more … – Le Journal du Geek
This is going to make a point that the hardware of the next smartphone from Samsung made about him. And Korean seems to play.
After the success of Galaxy S7, it is now the Galaxy Note 6 which is the center of all the rumors. one of the most serious concerns RAM, an extremely important element for our mobile, with which builders like to play. This is a moment we hear that the Note will carry up to 6GB of RAM, and Samsung just make statements that seem to confirm this.
This weekend, at an event Chinese for the mobile, the brand unveiled a memory chip RAM LPDDR4 6GB particularly efficient and engraved in 10nm. An ad suggesting that such amount could soon be integrated into high-end smartphones Korean.
But this etching process should allow to produce marketable fleas 2017. A date that would exclude the Note 6, which would normally be presented to August September. It remains to see if the builder will speed up the tempo and strike a blow.
Samsung probably did not do things randomly.
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