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Standard Chartered reported Wednesday a 10.7% jump in pretax profit in 2011, in line with expectations, signing a record result for the ninth consecutive year favor of the Asian economic growth remains strong.

The bank displays a taxable profit of 6.78 billion dollars against 6.12 billion in 2010. Economists anticipated $ 6.8 billion, according to Thomson Reuters I / B / E / S.

"The pace of growth should accelerate in 2012," said Dominic Chan, an analyst at BNP Paribas in Hong Kong. "The major markets such as India, are showing signs of improvement and the bank is well positioned to gain market share in areas such as finance international trade or wholesale banking. "

The results were supported by the strong performance of StanChart in China and Singapore. The city-state, where the group posted a profit of one billion dollars, has become its third largest market.

"We started well in 2012, after a very strong year-end 2011," said Chief Executive Peter Sands said in a statement. "For 2012, we are on track for a double-digit income, EPS (earnings per share) in double figures (…) but it is still early to tell. "

General Motors is in discussions at an advanced stage to take a small stake in Peugeot as part of their proposed strategic alliance in Europe, said on Monday close to the matter.

It is likely that GM would take a stake of less than 5% in the first place and a deal could be announced in the coming days, sources added, however, warn that there is not yet and agreed that the talks could unravel.

GM has declined to comment. A Peugeot spokesman did not respond immediately to messages and calls for comment.

Casino Monday will consider the offer to purchase its share made by Monoprix, Galeries Lafayette, said Philippe Houze, chief executive of Galeries Lafayette and Monoprix CEO.

Galeries Lafayette and Casino disagree on the value of their joint venture, the first finding to 1.35 billion euros from 50%.

"Galeries Lafayette reiterated their offer on Feb. 10 at Casino redeem its share to 1.35 billion euros," said Philippe Houze in an interview with Le Figaro on Saturday.

The CEO of Casino "Jean-Charles Naouri assured me that the offer would be considered at Monday's council," he adds. "We have the means to finance the offer, if accepted."

The gross domestic product (GDP) contracted by German 0.2% in the fourth quarter, after rising 0.6% between July and September, confirmed Friday the federal Office ; Deral Statistics.

German growth has slowed to 1.5% annual pace in the fourth quarter after 2.6% last quarter, hampered by a slowdown in foreign trade and consumption.

Exports fell 0.8% in the quarter, after growing 2.6% last quarter.

The net trade subtracted 0.3 percentage points to GDP in the fourth quarter, while domestic demand added 0.1 percentage points, says the Office of Statistics, whose data de ; finitives were fitted to the seasonal values. 

The German budget deficit fell to 1.0% of GDP in 2011 against 4.3% in 2010.

Group management Peugeot Citroën confirmed Wednesday that alliance projects from an article by LaTribune.fr evoking discussions in the finals with General Motors.

After had tried to ally with Japan's Mitsubishi, having denied rumors of a partnership with Fiat, PSA Peugeot Citroen acknowledged Wednesday review "projects of cooperation and alliances" but did not specify with whom the French group was under discussion. These statements came as the site reported Tuesday LaTribune.fr advanced negotiations for a marriage with General Motors. The U.S. giant has also refused to confirm specific talks, merely referring to regular discussions with automakers.

The site is LaTribune.fr meanwhile status talks between General Motors and PSA "started several months ago" and "entered their final phase." He cites a confidential source that these discussions are "advanced" and are "an alliance, not ad hoc cooperation." They "have not yet been successful, there is no agreement at this stage," said the source.

Finding the right partner

PSA has denied rumors in January in the Italian press for a merger with Italy's Fiat-Chrysler. But the new director of the brands is the French sector, Frederic Saint-Geours, had indicated that PSA was "quite open" to the idea of ​​a marriage, provided "the right partner." "For now, there is no alliance in progress", he added.

Two years ago, PSA had attempted to ally with Japan's Mitsubishi, but the operation had failed. The project was buried in March 2010. The press then reported a reluctance on the Peugeot family, which holds 30.3% stake to 45.74% of voting rights. Sales of French number one industry, and number two in Europe, suffered in 2011 from the poor health of the European car market.

PSA wants to expand internationally. But there is lack of funding and somewhat isolated on the world stage, in front of Volkswagen, GM, Toyota or Nissan Alliance, said LaTribune.fr. Partner with the world number one what General Motors, which posted record profits last year, could be a solution, according to the website.

An announcement could be made in early March at the Motor Show of Geneva, according LaTribune.fr.

Finance ministers of the euro area, meeting in Brussels last night, finally managed to agree on a rescue plan of record 237 billion euros. Financial markets themselves remain cautious. Record bailout for Greece

The euro area has decided to forceps Tuesday a new record bailout, potentially reaching 237 billion euros for Greece in the hope of avoiding the release of the Monetary Union without allay concerns about future of the country.

The agreement came in the night after more than thirteen hours of negotiations between the Finance Ministers of the monetary union, during one of those crisis meetings in Brussels with the euro area is now used. The agreement must "secure the future of the country in the euro area," he told reporters their leader, Jean-Claude Juncker, while many economists believe the country is doomed to end to leave .

European Commissioner for Economic Affairs, Olli Rehn, told him of a "real chance to make a fresh start" and "an essential step for Greece and the euro area". The aid package includes a component from a public assistance, loans-mainly-to the tune of 130 billion euros until the end of 2014, after an initial program of support for the country decided May 2010 had already reached 110 billion euros. This has proved insufficient. The IMF should be involved, but making less than in previous aid plans. It will take a decision in March.  

The other aspect concerns a debt relief of Greece held by private creditors, banks and investment funds. They must accept a loss of 53.5% in the final on the face value of their Greek claims, is an increased effort from the original target was 50%. This should reduce the country's debt amounting to 107 billion euros, a record in world economic history. This exceeds by far the effect of debt restructuring of Argentina, which reached $ 82 billion (73 billion euros during the day) when she failed in January 2002. With this support plan, Greece should be able to cope with a maturity of 14.5 billion euros which falls on March 20 and thus avoid default. Provided however, that banks respond in sufficient numbers to call.  

Athens said he was "very satisfied" with the result. The Greek government had fulfilled its part of the paper the contract by complying with the requirements of its creditors. It adopted a new austerity plan at the cost of violent street protests and renewed political turbulence and will have to quickly firm up the first steps, in token of good will, to see the money reach him. A savings plan painful 3.3 billion euros this year was passed, providing for a reduction in the minimum wage and a limitation of pensions in particular.

Financial markets remain cautious

But if negotiations dragged on, is that the major funders of Greece have hit on a hole of several billion euros to bridge towards reducing Greece's debt to 120% of GDP by 2020. It is the goal set by the International Monetary Fund to consider that it is sustainable in the long term. In the end, the bailout will reduce the Greek debt to the tune of 120.5% by 2020. To achieve this, banks will not only make a greater effort. The government also will have to put a little more hands in their pockets, by reducing interest rates of loans already contracted to Greece and, for central banks in the euro area, by participating in the effort. Greece will in return be further strengthened supervision on the part of creditors, the European Commission in particular, to ensure it does not deviate from the targets.

The negotiations were also made difficult by the fact that many countries are skeptical, despite repeated promises, the ability of Greece to make the necessary reforms, especially as the forthcoming parliamentary elections are likely to reshuffle the cards. The country itself is undermined by the economic recession, with five consecutive years of decline in gross domestic product, and the population is increasingly difficult to accept successive budget cuts demanded by creditors.

Financial markets have reacted cautiously. The euro rose against the dollar and the Japanese yen on Tuesday. But European shares open in equilibrium. Many economists doubt that the new rescue plan is the final chapter of the Greek crisis, and therefore the debt crisis that has shaken the euro area for over two years. They regret that it is turned toward fiscal restraint and not to revive growth in a country that could, in the eyes of many, to "die healed." "The Greek plan remains fragile and vulnerable. Even with this agreement, Greece still has most of its problems ahead, not behind it," warns Sony Kapoor, Director of Studies Centre Re-Define. The head of the Bruegel Institute is even more pessimistic, believing that the plan does not doubt "that extend the deadline fatal". "Greece will not implement austerity promised and will end up ultimately having to decide to leave the euro or to be pushed to the exit," he considers.

The Greek government on Saturday approved the final version of the austerity measures demanded by the EU and the IMF to release an aid package of 130 billion euros .

The government approval was a formality after the adoption, last week, a series of measures aimed at saving 325 million euros including through reductions of wages, salaries and pensions.

"These austerity measures were approved unanimously," said one minister, who requested anonymity. 

The government during the same meeting set for March 8 opening date of the exchange of Greek sovereign bonds held by private creditors, with the hope to complete the operation before March 11, said an official source.

This exchange will result in a discount of 70% of the real value of debt held by private investors.

The Greek government hopes that these initiatives will enable the adoption of the bailout by member countries of the eurozone at their summit in Brussels on Monday.

"The Greeks did everything they could and we are committed to keeping our commitments," said Minister of Public Order, Christos Papoutsis. 

Prime Minister Lucas Papademos said in a statement regretted having to solve a new lower pensions but assured that the impact of this measure would remain limited as it only concerns a pension exceeding 1,300 euros.

"We all agree that the support of economic activity is our priority," he added, without specifying what measures he intends to eventually take to restore growth.

A poll for the Sunday newspaper Realnews, 72.7% of Greeks want a continuation of Greece in the euro area, but only half of them think it will get there.

European shares start up Friday, continuing a rebound started the day late in the session, in the wake of Wall Street and Asian markets as investors regained confidence in the ability of Greece to get its second aid plan and avoid a disorderly default.

The euro area provides the finishing touches on a second aid plan for Greece so that the finance ministers can approve Monday, European officials said.

At 9:22, the CAC 40 index is 1.02% to 3,427.77 points, having pressed upon opening the pivot points of 3410.

The Euro Stoxx 50 gained 0.91%, the Frankfurt Stock Exchange 0.7% and 0.4% in London. 

The financial and cyclical stocks are leading gains in Europe, including a gain of more than 3% for SG. Lafarge gained nearly 4% after its results and the announcement of a 14% reduction of its debt.

Meanwhile, the cost of borrowing from Italy and Spain fall in the bond market, thereby enhancing

yield spreads with those of Germany.

Not easy being a socialist candidate in times of budget deficit. On the one hand, we must gather all left, and the other not to antagonize the financial markets, with power to increase the cost of debt. Francois Hollande in his first big campaign rally, Sunday, Jan. 22 at Le Bourget.

Finance the war against Francois Hollande is it already over? Having dug up the hatchet in January at Le Bourget, the PS presidential candidate seems ready to smoke the peace pipe in the British press when he denied any "aggression" against the financial markets.

It's early in the week that François Hollande has raised the white flag. Before going to London, he in effect gave an interview to several British correspondents including the Telegraph, the Financial Times and the Guardian. To reassure all these people came to interview in Paris – and at the same time readers of the City-François Hollande has tried convincing: no it is not regarded in France as a very left financial regulation. And no, the France of 1981 has nothing to do with that of 2012, where "there are more communists," he said. Since the Guardian has restored the full quote by adding the flat "or very little." But the little phrase made noise in France where she has raised the ire of the Communist Party and part of the left. And drew attention to the soothing message of one who presented himself as the exterminating angel of finance.

To please these ears International, Francois Hollande has indeed put barrels of water in his wine. He did not hesitate to recall that during the fifteen where they were in power, the Socialists had liberalized the economy, open markets to finance and privatization. According to him, he and Obama would also have very close positions on the topic: "One could say that Obama and I have the same advisors."

Finance, enemy number one on the inside …

A speech that contrasts clearly with the speech of January 22 Bourget, in which he had made finance enemy number one, it had to be slaughtered at all costs. This financing "nameless, faceless, non-party" but "nevertheless governs us" and took control of our lives …

At the time all the political commentators asserted: Francois Hollande had managed a grand coming out on the left! The verbal attack angered the bankers, tired of being stigmatized. And they came with a program: creation of a tax on financial transactions, separation of deposit banks and investment banks, creating a special tax for financial institutions, or limiting bonuses. Ultimately, however, nothing really revolutionary. But the strong speech perfectly met the expectations of the electorate to the left.

… partner and to be struck out

So why this double standard? Francois Hollande is a campaign from the first round of presidential elections in which he must collect the left where it calls for more measures to support growth. This does not prevent him from being convinced that deficit reduction is essential. His lecture on the encryption program, far from lyrical flights of Bourget failing to have been accurate on spending cuts, was already a sign. But he also knows that the markets are still the law in fiscal policy. To put them back is to take the risk of skyrocketing interest rates on the French debt.

But some recent indicators have come to confirm it was time to make peace with investors. A report by economist Erik Nielsen of UniCredit noted in particular the fear of the markets to see the PS candidate cross the steps of the Elysee. Concerned, the prospect of renegotiating the EU Stability Pact to avoid the constitutional goal of balancing public finances. Hence the signals sent through appeasement of the international press. However not sure whether they were intended to be discussed in the hexagon. Which is not without problems.

Olivier Dartigolles for example, spokesman for the PCF, the "kneeling" before the City of Holland "are hard to the left". A view shared by Marie-George Buffet and Jean-Luc Melenchon, who both joked statements of the candidate face to British journalists. "You can not simultaneously be the candidate of the City and the candidate cities", summed up Wednesday Hervé Gattegno, editor of the Point.

Furthermore, this game is subtle to say the least on how to reduce deficits, could also turn against him. It is said the markets they are non-partisan. Maybe, but they are adamant on one point: the deficit reduction plans should be adjusted to the nearest euro!

Wall Street opened higher Monday after the vote of austerity measures by the Greek Parliament, investors wanting to believe that this new step will move towards a resolution of the debt crisis in Greece.

In early trade, the Dow Jones gained 0.48% (61.76 points) to 12,862.99 points. The Standard & Poor's, which was accused last week its first weekly decline in six weeks, is 0.64% (8.65 points) to 1,351.29 points while the Nasdaq composite advance 0.81% (23.57 points) to 2,927.45.

"There was a little apprehensive but the fact is that (the Greek plan) was approved and it has clarified many things to contracts involving the risk that Greece represents for them, "Justice Peter Kenny, managing director of Knight Capital.

Side values, as Apple has climbed above $ 500 at the opening (1.65%), reaching a new record. 

The group has stepped up to the apple its offensive Monday against Samsung Electronics in the patent war between them, by attacking the Nexus range of smartphones equipped with the latest version of Android, the operating system from Google.