Copy to correctCobblers are always the worse ride

When a éclopé presents the foot on the ground, it has every interest in not out without his two crutches. The number one local Dexia finance therefore collar butt to demonstrate that its model is viable in relying on the two guarantees granted by the Belgian and French States. One it opens the refinancing markets and should serve until the end of 2010. The other allows him to bear the risks associated with inherited from its subsidiary FSA financial products portfolio and it should never be used in view of the provisions already past, but it allowed to sell credit Enhancer to Assured Guaranty. It is difficult to see in this phenomenon a simple symptom "belt and Suspenders", one who betrays the luxury of precaution. Because the banking system is still a strong dose of uncertainty and Dexia would be in the position of the weakest without these two safety nets. The result is that Brussels will have a say in the future contours of the Franco-Belgian group. The question is therefore now of how far the Commissioner for competition Neelie Kroes will recover the straps of European banks which had to be helped. Investors agree to locate the course above the floor calculated by equity off-reserve by action but they are struggling to project the level of future profits.

Copy to correct

Cobblers are always the worse ride. Specialized in printing large format used for building plans and advertising posters, is yet to micro-résultats that Océ, the first European manufacturer of printers and photocopiers, recognises the market quarter after quarter. Already last year had seen the reduction of 6 of net sales fell below 3 billion euros and 95 of net profit reduced less than 4 million. Fallen to 1.5, its profitability has more things to see-more with the 9 margin of the end of the 1990s whose remembrance began dating. Today, the Dutch should review its copy, both its plan for the removal of jobs he always reviewed the increase can no longer be used to avoid strategic thinking. The crisis has made even more difficult to Xerox or Konika Minolta such competitors including the capitalization and the sales were respectively 13 and 4 times higher than his own. The loss of 15 million that he has just announced will not boost the morale of investors who inflicted the highest drop of the stock exchange of Amsterdam. On the other hand, recognizing finally that he should look for a partner, it can provide other horizons. If it finds footwear at its foot.

Reason and feelings

As the feud between insecurity and the feeling of insecurity which was the heyday of a presidential campaign passed, everything seems to now play markets between recovery and sense of recovery. Quarterly results published by the number one Japanese distribution Seven & I Holdings thus to doubt the adequacy of the reasons that pushed the Nikkei index to the euphoria. Progressing of 26, he approached the threshold of the 10,000 points and directed its best quarterly performance since 1995. Unfortunately, unemployment was also in the highest since 2003 in May and declining wages, their revenues from consumers who do more jostling at Seibu, Sogo or Ito-Yokado, all controlled by the Japanese group signs. It was beau accelerate sales of tea or soy sauce with its own trade mark, guarantors of lower prices and higher margins, he could prevent the fall of 28 of its profits and 11 of its sales while its shares rose. If its Seven Eleven, the famous combini stores held the shock at home, their gas pumps have suffered in the United States in the fall of the price of fuel. Life is a candle in the wind said a Japanese proverb. The winds of the crisis could extinguish the fragile hope which reinvigorated the investors.