Vivendi announced Thursday a decrease in its dividend to cope with increased competition in the mobile with the arrival of Free Mobile should put pressure on margins from its subsidiary SFR.

The new entrant has tumbled in early January on the market of mobile telephony with two offers at bargain prices, forcing competitors to lower prices of some of their offerings to attempt to limit the exodus of their subscribers.

Vivendi expects for 2012 a decline of 12% to 15% of EBITDA of SFR which is mainly due to increased competitive pressure on the French market for mobile. 

"The overly favorable terms granted to the new mobile operator by the regulator, the State and the incumbent operator SFR lead to review carefully both its commercial offers that its expensive ; ts "said Jean-Bernard Levy, chief executive, said in a statement.

"These efforts will weigh adaptation in 2012 and 2013 on the results of Vivendi," he adds, saying anticipate a return to earnings growth in 2014.

Behind the second French operator France Telecom has lost 1% of its customers since the beginning of the year, said the head of Vivendi.

Its competitors also suffered from the arrival of the new entrant.

Bouygues Telecom, a subsidiary of Bouygues, said Wednesday it lost 159.000 customers in mobile telephony between the start of the year and February 15, which represents 1.4% of a total of 11.3 million customers, and announced a 300 million euro cost savings.

France Telecom has meanwhile announced the loss of 201,000 mobile customers in the same period, 0.7% of its fleet of 27 million customers in France, and lowered its pre ; vision of dividend for 2012.

Like the incumbent, Vivendi will adjust its dividend policy by paying more than one euro per share in cash for 2011 – against 1.40 euros in fiscal 2010 – more one bonus share per 30 shares held.

From 2012, the group will distribute 45% to 55% of adjusted net income in cash, against more than 50% historically. 

Adjusted net income of Vivendi rose to 2.95 billion euros in 2011, slightly above the forecast of the group, revised e down in November. At that time it had reduced its estimate of three billion to 2.85 billion euros.

The turnover came out up 0.5% to 28.8 billion euros.

Kraft Foods posted a quarterly profit Tuesday as expected and said anticipating a growth in operating income of at least 9% this year, despite pruning announced its range in North America.

The first U.S. food group, which holds particular LU biscuits and coffee Carte Noire, will split into two companies later this year.

One will be dedicated to its snacks marketed worldwide as Cadbury chocolate and biscuits Oreos, the other brands in North America specifically, the e ; door leaf thereof being referred to shrink. 

To prepare for this separation, the group will fund a special charge of $ 1.6 billion to $ 1.8 billion (1.2 to 1.4 billion euros).

Kraft has said it expected a net increase its turnover by around 5% in 2012. This forecast takes into account the negative effect of around one percentage point reduction in its range in North America.

The group said also anticipate an increase of at least 9% of its operating profit at constant exchange rates, despite higher taxes and pension costs.

The action Kraft gained 1.9% to 38.73 dollars to 4:20 p.m. GMT on Wall Street, while the Dow Jones progressed from 0.37%.

The group recorded a fourth quarter profit of $ 830 million, or 47 cents a share, against $ 540 million (31 cents) a year earlier.

Excluding items, earnings per share were 57 cents, according to Thomson Reuters consensus I / B / E / S.

Turnover increased by 6.6% to $ 14.7 billion. Organic growth – is out acquisitions, disposals, calendar effects and exchange – rose 7% in North America, 3.1% in Europe and 7.2% in emerging markets.

The three-party coalition government in Greece have agreed on a reduction in public spending of 1.5% of GDP in 2012 and are expected to give an answer to the proposal of credit ; the country's international nancial Monday at noon.

"Political leaders should in principle give an answer tomorrow at noon (the EU) so that it can be presented to the Eurogroup in Brussels," said Panos Beglitis, spokesman for the Socialist Party, Sunday. 

As negotiations dragged on for weeks, Beglitis acknowledged that leaders of the three coalition parties (the Socialist PASOK, New Democracy conservatives and the far-right party LAOS) have still things to negotiate, particularly on labor reform and support for national banks.

"There are two big problems, work and banks, which were left for tomorrow," he acknowledged.

Party leaders will then discuss the plan of the troika (International Monetary Fund, European Commission and European Central Bank) at a meeting chaired by Prime Minister Lucas Papadé mos.

"There will be a meeting of political leaders chaired by Papademos tomorrow afternoon," said Beglitis. 

But no work session was not officially scheduled with representatives of the Eurogroup on Monday and everything could happen by teleconference or a face-to face at the last minute.

The chief minister said for his part that the various managers of the government coalition have agreed on a reduction in public spending by an amount equivalent to 1.5% of GDP this year.

This includes measures to reduce salaries and benefits costs to make the Greek economy more competitive, he added. 

He also confirmed the meeting of heads of coalition parties on Monday to conclude negotiations on the second aid package of 130 billion euros to be implemented by the mid-March to avoid a collapse of public accounts.

The two main Greek unions called for a 24-hour strike Tuesday to protest against austerity measures and reforms demanded by international creditors.

"We expect one-day strike on Tuesday," said Ilias Iliopoulos, general secretary of the ADEDY representing public sector employees.

"Despite our sacrifices and despite the recognition that this policy mix is ​​bad, they ask even more austerity," he added. 

ADEDY and its private counterpart, the GSEE, representing about two million workers in Greece, about half of the workforce.

BAROIN OPTIMISTIC

Creditors of Greece had requested a reduction in spending worth one percent of GDP, slightly more than two billion euros for 2012.

The negotiations on the restructuring of the Greek debt held by the private sector rose "relatively well", said his side the French Minister of Economy and Finance, Sunday .

"I think it progresses smoothly on the part of private sector involvement to be made on a voluntary basis," said Baroin under the "Grand Rendez-Vous "Europe 1-Le Parisien-i> Télé. 

"We would not get away from the level at which one must move the Greek debt in 2020, that is to say around 120%," said the French minister. And "it is because we do not withdraw these objectives that the discussions are difficult," he said.

"Anyway, it's later than February 13," continued Baroin.

February 13 is the deadline posed by the euro area to launch the operation, which should bring the Greek debt around 120% of gross domestic product (GDP) to in 2020 against over 160% today.

The private sector should accept a discount of around 70% of its obligations under the exchange program of the Greek debt. This will help to lower than 100 billion euros of debt of Greece.

In exchange for a loan of at least 130 billion euros by 2015, the troika of institutional creditors requires further structural reform and further reforms of austerity authority to clean up its public accounts.

Troika calls including a lowering of wages in companies and supplementary pension, which measures face many political and union resistance.

In the absence of an agreement, Greece is threatened with failure to pay on 20 March, when mature 14.5 billion euros of bonds.

The Prime Minister believes the government should not have back in 2007 after the failure of legislative reform because the cost of labor is essential. Prime Minister Francois Fillon regret not having done the social TYVA in 2007

Francois Fillon said Thursday evening the balance of Nicolas Sarokzy. The Prime Minister expressed as main regret of his five years at the Matignon "floating" in 2007 on the so-called social VAT, adding that he had to "do it now," referring to the will of the head of state to this measure on track by May When asked on the set of the show "The words and actions" on France 2 why the government wanted to implement the measure within three months of the presidential election, he returned to the turnaround of 2007, during the period between the two towers of the legislation.

"On the cost of labor, you remember we had planned to do in 2007. There was a reluctance on the part of the government team, from the majority that led to a misunderstanding on the part of the French, "argued the Prime Minister, recognizing that this was" probably (had) a reaction in electoral terms "in parliamentary elections at the time." You should never hesitate. When we govern, decide and implement the reforms (…). Here, there was a little flutter, flutter it made it more difficult for some time the implementation of this reform, "he said

……. Ruling out .. "inflation risks" now, François Fillon expressed the need "to do it now". Invited to express his main regret at Matignon, the prime minister has come back "on the case of lower labor costs in 2007. "" We hesitated too. It is a regret I have today, "he repeated. On the contrary the decision that is" most proud ", Mr. Fillon also drew attention to "the reform of social dialogue". "When you see what happened five years ago (…) is a small cultural revolution that has occurred," he judged.

On his favorite memory with the Head of State, with which relations have experienced up and down since 2007, the prime minister called a "great memory" the presidency of the European Union in 2008. "I was very proud of what has been accomplished and the image has given France and the president," he dit.Concernant his worst memory, Mr. Fillon declined to answer: " I have no recollection of this type and even if I had, I do not confide in you. "

The Finnish group Outokumpu will acquire the division of ThyssenKrupp Stainless, Inoxum for 2.7 billion euros to develop synergies and to defend against competition from Asia. </ P> The agreement will be partly financed by the issuance of one billion euros of new shares and Outokumpu will result in the closure of two smelters and the elimination of 850 jobs in Germany. </ p> Analysts said the merger would enable all European producers of stainless steel to increase their room for maneuver on pricing as the industry is weakened by excess capacity. " / p> Outokumpu will pay one billion euros in cash to ThyssenKrupp and resume at the last 422 million euros of debt.</ P> The German group, whose market share in Europe is estimated between 35 and 40% ceded to pressure from its unions by agreeing to remain a shareholder of discontinued operations ; are: it will hold 29.9% of Outokumpu after the operation. </ p> Action ThyssenKrupp gained 2.4% to 21.6150 euros at 3:40 p.m. GMT the Frankfurt Stock Exchange while the Stoxx European basic resources progressed by 0.2%. In Helsinki, Outokumpu fell at the same time from 11.4% to 6.525 euros. </ P> The IG Metall union, which gave the green light to the operation, a pre specifies that Inoxum plant in Krefeld in North Rhine-Westphalia would be closed by December 31, 2013 and the site of Bochum, located in the same Land, would close the end of 2016. </ p> He said the two groups have obtained the guarantee that no other German production site would be closed before the end of 2015 and that the integration of Inoxum would be no forced departure. </ p> While five years ago in Europe exporting of stainless steel, the increase in production capacity and global competition from Asia and Asia now covers 20% of the needs of the old continent. </ p>

The new home sales fell 13% in the third quarter. At the same time, housing starts and building permits have increased. An employee on a construction site offices and accommodation in Marseille.

The new home sales fell 12.9% in France over one year in the third quarter, according to the Ministry of Housing, which reported Tuesday alongside a 11.4% increase in housing starts and 22, 6% of building permits between August and October 2011. A total of 26,400 new homes were sold by developers in the third quarter of this year, a decrease of 12.9% over the same period in 2010, according to figures released by the Ministry.

Over the last four quarters (4th quarter 2010 to third quarter 2011), sales totaled 101,300, a decrease of 10.7% over the same period a year earlier.

His heart attack until the financial markets, the euro area plays its future in the coming weeks in an economic, budgetary and fiscal conducted forced march under the leadership of Germany.

The countdown to this year has accelerated last week when France, but also Austria, Finland and the Netherlands, saw arrive at their door pressure from investors, which they thought up until there is little protection because of their maximum rating AAA.

Faced with this new situation, the debate on increased intervention of the European Central Bank to support countries in difficulty – to which Germany is now the only one to oppose – has flared up.Angela Merkel's advisors are on the phone at all hours with European capitals, "said she.

"But if they would not get successful, unorthodox solutions are being considered," she said again.

MINI-TREATY?

Several European leaders, France and Germany in particular to reflect the possibility of a mini-intergovernmental treaty outside the community and to circumvent British requests for repatriation of skills in London and, ultimately, unanimously required a revision in formal treaties.

France and Germany called Saturday to the new Greek prime minister the "full implementation and full implementation of all commitments" by his country to emerge from the crisis, according to the Europe Agreement of 27 October.

French President Nicolas Sarkozy and German Chancellor Angela Merkel met with Lucas Papademos, named Thursday to replace George Papandreou.

"After having congratulated the formation of the new Greek government, they stressed the urgency of implementing full and complete of all commitments, including those contained in the agreement of the summit of the Eurogroup of October 27, "it said in a statement from the Elysee.

"The payment of the next tranche of aid can be made only when a step has been made in this regard," said the French presidency.

Lucas Papademos, former Vice President of the European Central Bank, was sworn in on Friday after a week of tough negotiations between the two major political parties of the country, socialist and conservative.

It must implement drastic austerity measures in a country already plagued by months of recession in order to obtain a new loan of EUR 130 billion to prevent Greece from bankruptcy.

In a letter sent on Friday, Nicolas Sarkozy had assured Lucas Papademos the support of France to carry out the reforms necessary to overcome the crisis in Greece.

List of values ​​to follow on Wednesday at the Paris Bourse, where the CAC 40 gained 0.21% to 3181.08 points before the vote to 24:40 awaited the start of the afternoon of the Bundestag in Berlin on a draft reform of the European Financial Stability Fund (EFSF).The market expects more to be disappointed by the results of EU summits and the euro area this evening.

* RENAULT (2.08%) sign the best performance of the CAC 40 and the Stoxx sector (1.17%) recorded the largest increase sector in Europe.

The CEO of Daimler (1.67%) Dieter Zetsche told executives that Renault might consider a partnership in the development of high-end vehicles, according to the Börsen-Zeitung, citing a part of the French manufacturer .

* PSA Peugeot Citroën wins after losing 1.08% to 5.7% in early trade, the market welcoming the cost reduction program announced by the automaker, which has revised down its forecast 2011 after a third quarter marked by lower volumes.

* Societe Generale (1.39%) to recapitalize by putting aside the results, even by appealing to its shareholders, but in no case will involve public money, said on Europe 1 CEO Frédéric Oudéa.

* A reverse trend, SAFRAN (-2.09%) shows the largest decrease in the CAC 40, several brokers have reduced their price targets and earnings forecasts following the release Friday of sales in the third quarter considered disappointing.

* ArcelorMittal gives up 1.3%, the market continued to sanction the surprise announcement the day before removing the group launched the joint bid with Peabody Energy in Macarthur Coal.

In addition, Nippon Steel said to anticipate a decline in annual profit, mainly due to worse economic prospects.

* Faiveley Transport (3.76%) is again on top of increases in the SBF 120, the value still enjoying a catch-up effect after a quarterly considered positive, including the announcement of a backlog of better than expected.

* INGENICO advance of 3.54%, following the announcement of its quarterly publication, with investors reassured by the silence of the group on the future as many had previously expected a negative message.

* MERSEN, which declined by nearly 7% between 19 and 21 October, is up 2.8% after the announcement of a quarterly revenue emerged above analysts' expectations.

The Vatican on Monday called for the creation of a "universal public authority" and a "global central bank" to regulate financial institutions in the current period of turmoil and uncertainty.

The 18-page document, entitled "To reform the international financial system from the perspective of a public authority to universal jurisdiction," should strike a chord with "outraged" over the world protesting against the excesses of the current economic system .

"The economic and financial crisis through which the country calls everyone – people like people – to conduct a thorough discernment of the principles and cultural and moral values ​​that form the basis of social life in common," the Council Pontifical Justice and Peace in a note.

The Vatican warns against "idolatry of the market" and "neo-liberal ideology" that the current problems are only technical.

"The crisis revealed the attitudes of selfishness, greed and hoarding collective goods on a large scale," he says, adding that the world economies were to take an ethics of solidarity between rich and poor countries.

"If no remedy is given to various forms of injustice, the negative effects that will follow in the social, political and economic will be likely to generate a climate of growing hostility and even violence, to undermine the very foundations of democratic institutions, those that are also considered the strongest and safest, "reads the document.

The Holy See called for the establishment of a supranational authority in global dimension and universal jurisdiction responsible for guiding policy and economic decisions.

Such authority should be taken as reference the United Nations to gain independence then.

EFFICIENT STRUCTURES

When asked whether this document could become the manifesto of the "outraged", Cardinal Peter Turkson, president of the Pontifical Council for Justice and Peace, said: "People on Wall Street have to sit and think wisely about whether their current management of global finance is in the interests of humanity and the public interest. "

"We call on all groups and organizations to sit down and rethink the situation," he said at a news conference Monday.

The International Monetary Fund (IMF) has lost its ability to regulate the global creation of money and watch over the amount of credit risk that the system assumes, believes the Pontifical Council.

"In economic and financial matters, the greater difficulties come from the absence of an effective set of structures that can guarantee, in addition to a system of governance, a system of government in the economy and international finance. "

The world needs "a minimum corpus, shared rules to manage the global financial market."

"We see on the bottom, to draw in perspective the need for a body performing the functions of a sort of 'World Central Bank' regulating the flow and the system of monetary exchange, like the national central banks" , says the document.

The Pontifical Council recognizes that the establishment of both bodies will take years and will face resistance from the global players.

"This transformation will take place at the cost of transfer, gradual and balanced within the remit of a national authority in a global and regional authorities, which is necessary at a time when the dynamics of human society and of the economy and the advances in technology, transcend borders that are in fact already eroded in the globalized world. "