Business News & Financial News

DuPont publishes a quarterly profit nearly tripled thanks to a double digit growth in sales in its five main business segments.

The number three of the chemistry in the United States has achieved during April-June net profit of 1.17 billion (900 million euros), or $ 1.26 per share, against 417 million (41 cents / share) on the corresponding period last year.

Excluding items, earnings were $ 1.17 per share.

Financial analysts had expected earnings of 93 cents per share according to Thomson Reuters I / B / E / S.It was not clear immediately that this consensus is comparable to published results.

The quarterly revenue rose 25.6% to $ 8.62 billion against 8.27 billion expected by the market.

DuPont revised upwards its forecast range for the full year, saying it now expects earnings per share (EPS) of 2.90 to 3.05 dollars excluding special items, against 2.50 to 2.70 far.

The market consensus gives an annual EPS of 2.64 dollars.

The action DuPont, one of the 30 stocks in the Dow Jones gained 2.1% in pre-market transactions, to 39.80 dollars.

Business start-ups have increased by 1.0% in June to sign up 43.2% over 12 months, according to figures released Tuesday by the INSEE.

In June, the INSEE counted 24,182 new businesses in seasonally adjusted data (+18.4%), a figure which rises to 50,508 by counting the self-entrepreneurs, the figures for the latter being in the raw data.

The lower number of new self-entrepreneurs in June was offset by higher self-creations out contractors, "said INSEE in its statement.

In May, the number of new non-auto business had increased by 2.7% to 20,426.Including these, INSEE had counted 50,021 designs.

Year over year the last three months, the cumulative number of creations in the second quarter 2010 was up slightly compared to second quarter 2009 (+2.1%). The sectors that contribute most to this increase were the construction and industry, noted INSEE.

In the first six months of the year there are 200,313 requests for creations under the self-contractor.

The statute, which simplifies administrative procedures and is fiscally advantageous, has attracted 320,000 people its first year and the Secretary of State for Trade Herve Novelli in hopes as many this year.

The release can be found at www.insee.fr

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 World Trade Organisation has postponed the publication of a report on an action by the EU against the United States regarding subsidies granted to Boeing.

The progress report was published as a confidential WTO panel on the cons-procedure initiated by the Europeans was due July 16, two weeks after the decision of the international institution holding illegal subsidies received by Airbus from European governments.

"I can confirm that the president did speak with the parties concerned and said that because of the complexities of the case, there would be a delay in publishing the report," said Keith Rockwell, spokesman for the WTO.

The United States and Europe accused each other of illegally subsidizing their respective aircraft manufacturers.

Next week will be loaded in statistics but the employment figures, to be published Friday, are probably those expected with more anxiety on Wall Street.

Economists expect 110,000 job losses in June, a large part due to the fact that the government has sent home half of those hired by acting for the census.

The unemployment rate is expected to 9.8% against 9,7% in May

Without a net growth of employment, the U.S. economy likely to frown, the consumer limiting his spending to the minimum necessary.Consumer spending accounts for two thirds or less of GDP.

Two other indicators, among the many to be announced, are also of interest to Wall Street: consumer confidence in June (Tuesday), scheduled withdrawal from May, and promises of real estate sales in May ( Thursday).

The latest indicators published in real estate suggests that the recovery in dock because of the expiry of measures for first-time buyers.

"The truth is that the recession is not over, either a relapse or a straight line without growth, it is anyway probably more real than all the noise around the recovery," said Carl Birkelbach (Birkelbach Investment Securities).

On the whole week, the Dow Jones lost 2.94% the S & P 500 3.65% and the Nasdaq Composite 3.74%.Since the beginning of the year, the Dow lost 2.73%, the S & P and Nasdaq 3.44% 2.01%.

HIGH VOLATILITY, NARROW FLUCTUATIONS

The agreement reached Friday morning in Congress on financial reform is also to be considered a good place for U.S. President Barack Obama urged the world to emulate the United States during the G20 summit in Toronto .

He is likely that volatility will be higher next week, fund managers adjust their portfolios at the end of the quarter.

The volumes tend to fall before long weekend of Independence Day, a factor which may in turn increase volatility.

To the extent that July 4 falls on a Sunday, the U.S. markets will be closed tomorrow.

This promise may be times tense for traders focused on technical elements that the S & P has been able to hold above its 200-day moving average during the week.Some investors believe that a movement below this threshold is a bearish signal.

For Michael Sheldon (RDM Financial Group), the margins of fluctuation of the market will probably narrow in coming weeks.

The next week also see some results of companies, Monsanto and Micron Tech among others, as a prelude to the flood of quarterly results which go off from mid-July.

As usual, Alcoa, one of the Dow 30 stocks, will open fire on July 12.

Corporate profits of the S & P are expected to increase by 26.8% in the second quarter, according to Thomson Reuters.

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.

The British oil giant BP has already spent 1,250 billion dollars trying to contain the oil spill in the Gulf of Mexico, "he said Monday, indicating also be collected Saturday a total of 10,500 barrels after the installation of a funnel flight.

Between 3 and 5 June, BP and 16,600 barrels of oil collected with this new device.

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The amount advanced by the group does not include $ 360 million promised for the construction of artificial islands to Louisiana, he said.

"The optimization (device) continues and we hope to improve the collection in the coming days, but it will be some days yet before we can evaluate the success of this attempt at containment," BP said in a statement.

BP also said it was too early to quantify the total costs of the oil spill caused by the explosion late April of the platform Deepwater Horizon, in which 11 employees were killed.