Business News & Financial News

The Paris stock exchange resumed on Tuesday the path of decline, concerns about slowing global growth had returned to second place the ads on mergers and acquisitions cause a rebound in European equities Monday.

Around 9:10, the CAC 40 lost 0.95% to 3519.44 points.

Accor (+1.5%) is the only value of the CAC 40 in the green after the group announced the sale of walls 48 of its hotels in Europe, allowing it to exceed its debt reduction targets for 2010.

Lafarge (-3.9%) shows the largest decreases of ACC. Bank of America-Merrill Lynch lowered its recommendation from neutral to underperform.

London fell by 0.7% and Frankfurt 0.63%.The European indices, EuroStoxx 50 and 300 Eurofirst yield more than 0.9%.

The dollar is trading around 1.2642 per euro against 1.2635 late Monday.

A barrel of U.S. light crude lost 88 cents to 72.22 dollars.

Violent protests in tens of thousands of textile workers in Bangladesh have led to the closure Tuesday of 700 plants supplying most major brands of western clothing.

The riot police fired rubber bullets and tear gas on the workers in the industrial area of Ashulia, north of the capital Dhaka.In this sector, workers, requiring a higher minimum wage of 25-70 dollars, have erected barricades of old tires, set fire to trucks for delivery and launched missiles at the police for fourth consecutive day.

Some 800,000 workers spend many factories closed down 700, but "tens of thousands" more are on the streets, forcing shops to close, "said deputy chief of police in Dhaka Monowar Hosain.

Plants that have been forced to close their doors provide Western chains such as Wal-Mart, H & M, Tesco, Carrefour and Metro, as well as major brands like Tommy Hilfiger, GAP and Levi Strauss. The workers demanded wage of at least 5,000 taka (70 dollars) per month.The current minimum wage set in 2006 is only $ 25.

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Under the patronage of manufacturers and exporters of textiles (BGMEA), the violent protests, which began Saturday, has created a climate of "panic and anarchy, forcing factories to close until further notice. "More than 50 factories were ransacked by protesters who prevented and deliver orders on time, resulting in losses totaling millions of dollars," said Vice-President of the BGMEA, M. Mohiuddin Shafiul Islam.

Labour Minister Mosharraf Hossain promised after an emergency meeting with the management of textile wage increases, but has threatened "strong action" demonstrators.Textiles account for 80% of annual exports of Bangladesh and its factories employing 40% of the workforce of the industrial countries, most of them women.

News Corp. has been beneficial in the fourth fiscal quarter thanks to strong performance of its cable networks and advertising revenue growth of its newspapers.

The media company posted a profit of 875 million, or 33 cents per share for the quarter ended June 30, against a loss of 203 million (eight cents per share) a year ago when News Corp recorded a asset impairment charge.

Turnover rose 5% to 8.11 billion dollars. The Thomson Reuters consensus I / B / E / S gave a turnover of 8.05 billion.

Action News Corp. gained 2.9% to 14.25 dollars after the close of Wall Street, in response to these results.It grew by 12% since the beginning of the year, while the S & P movies and entertainment took 8% in the same time.

Rebound in advertising revenue and lower costs led to a growth in operating income by 20% in the press in the U.S. and internationally. The operating profit of its cable division has increased 31%.

In contrast, there was decline results from the satellite television and commercial services, and loss of the digital divide, including social network MySpace.

The U.S. stock markets opened on a negative note Friday as investors show some nervousness before the publication of the results of resistance testing taxed at 91 European banks.

A few minutes after the start of trading, the Dow Jones yielded 0.28% to 10,293.16 points, the Standard & Poor's 500 index 0.44% to 1088.89 points and the Nasdaq Composite 0.51% to 2234.45 points.

Losses are limited by satisfactory business results and publication of European statistics reassuring, especially in Great Britain and Germany.

Microsoft and Ford have published better than expected, the reaction of titles respectively 0.23% and 3.31%.

In contrast, the Citigroup opens down 1.71% to 4.02 dollars, the U.S. Treasury prepares to sell 1.5 billion shares to reduce state participation in the U.S. bank, gained during the rescue group.

Fiat announced Friday it would invest 700 million euros to produce the Panda in its factory near Naples Pomigliano after a landmark agreement with unions.

The decision to relocate production in Italy of the best-selling small car in Europe, built up in Poland, has been a while appear compromised because only 62% of factory workers in Naples had voted in favor of the plan Fiat, which also includes a significant change in working conditions.

The agreement gives Fiat more flexibility regarding the fees, limits the number of strikes and sick-leave.

It is part of an investment program of Fiat to eight billion euros until 2011 which is designed to make the group more efficient and competitive in a market that has experienced a severe crisis.

Fiat has finally decided to pursue his project after meeting with the four unions that support the project, FIM, UILM, Fismic and UGL.

Fiom, only union opposed the agreement, said it will help the government dismantle the labor law.

The union's national coordinator, Enzo Masini, said the union would consider a lawsuit for infringement of the rights of employees.

The Secretary General of the UILM Palombella Rocco told Reuters: "We hope the employees who voted against the plan will realize that the investment is important and it is in their own interest."

The Fiat Chief Executive Sergio Marchionne has written a four-page letter to convince employees.

"What we're doing is (…) to use all possible means to save the work, even work on which the Italian Republic is founded," says the boss of the group.

He added that his entire strategy for Italy depends on the agreement at Pomigliano.

The government of Silvio Berlusconi welcomed the announcement of Fiat.

The plant in Naples, which employs 5,000 people, shows the lowest productivity of the five Italian factories of Fiat. It is lower than that of the Polish site, which, with just over 6,000 workers, produced 600,000 cars per year.

The action marked rise in BP was Monday at the London Stock Exchange, the oil group has ensured that the containment dome set up the leaking wells in the Gulf of Mexico allowed to siphon off most of the oil 's them escape.

The UK has added a new capture system, to recover most of the dispersed oil would be ready in mid-JuneIt also revised upwards the cost of cleaning the oil spill, now the order of billions of dollars.

Action BP gained 2.7% to 445 pence at 11:18 AM.

BP said Sunday that the dome had helped siphon off the equivalent of 10,500 barrels Saturday, while the leak is estimated between 12,000 and 19,000 barrels per day.

"Finally we see some positive news for BP," said Peter Hitchens, oil analyst for Panmure Gordon.

Another analyst said that if BP is able to recover most of the oil in the coming month and a half, he will have less difficulty in avoiding a fall in the first quarter dividend.This decrease is claimed by some U.S. politicians.

The oil company also said that there was no change in its policy of exploration and production as a result of the spill.

"The exploration and production activity is a long term one must first make all investigations and draw all the lessons," said Clive Christison, one of the leaders of BP.