In Britain TMobile and the operator 3 already doMarch 19 the international monetary fund has given the tempoWhat get the bankers to excellent managersEvery word is weighed each taking soupesée positionSomething has changed in the country of financeInformation immediately contradicted by the BankWhy not but it is really not the purpose of the debateEspecially lately among investment banksHis pen was soaked in a liquid waterproofThe project focuses on the following pointsHire stars of football has never been the guarantee of winning the match. Will the Zidane. His reputation as a haven for European insurance has little more protected Italian that AXA Financial tsunami. When the Habs Rooster saw its net income and its intrinsic value drop of 83 and 38 respectively, the lion of Trieste accuses setbacks of 70.5 and 22. Its total unrealised gains melted a little slower than those of the French (3.1 billion against 5.1), but the shareholder of Commerzbank and Telecom Italia displays potential losses on its equity portfolio when one of AXA was still in the Green end of 2008. Its regulatory solvency ratio is a little more comfortable, but the Group of Henri de Castries has double the surplus of cash and equity triple. The decision of Generali 80 reduction in the part cash dividend and transfer its shares in the joint subsidiary of bancassurance with Intesa Sanpaolo proves that anxiety about the future is shared on both sides of the Alps. But less by the stock exchange which had not yet withdrawn his pink sunglasses, welcomed the figures inglorious generali by an increase of 1 of the title, when it had sanctioned those of AXA by a collapse of 26 in two days.
Still unplugged
Nomadic technologies are accommodated in General immobility evil. Did not have the intelligence to start early enough in the race to "smartphones" and online services, Sony Ericsson, the fourth largest manufacturer of mobile phones, competes now with Motorola, the number five, for the place of future memory of the mobile market. Fell into the red in the third quarter of 2008 for the first time in five years, he warned that the loss of the first three months of 2009, the third quarter in a row in deficit, would be larger than expected. In six months, Sony Ericsson will be probably lost between 30 and 40 of the profit before taxes earned in 2007, and a return to balance in the second half seems now compromised. Even if the Group anticipates a decline of 10 of global mobile sales this year, its average to 120 EUR price maintenance and the 35 fall in volumes expected in the first quarter show that this is at least as much a problem of positioning the impact of the recession. The Stock Exchange however did not detail, against EUR 2 billion to the capitalization of Ericsson and rival Nokia, but better in the war against the iPhone.
European banking winter
Wooden step. Instead of promising mountains and wonders in the distribution of credit, the pattern of Intesa Sanpaolo, Corrado Passera, prefer evoke a peasant saying to justify the use of the "Tremonti bonds" Government: hay reserves allow to spend the winter. Yet, the Italian leader does not take for a cow to milk: take three quarters of its revenues from the Bank of detail across the Alps is not a sinecure, without even mentioning the increase in unpaid. Not only the heavy weight of the asset management sees melt its managed stock, but more should ferrailler to defend its margins of interest, including blankets. Less exposed to the East that her rival, UniCredit, Intesa Sanpaolo provides however remain recipient in 2009, fort of new comparative advantage based on enhanced liquidity and capital "tangible". This rustic equity indicator was 3.9 of its assets according to his calculations and the square in front of his peers, in an upset European landscape. The interruption of the dividend for one year will in this sense and it was expected, as the Government assistance. Shareholders may, however, feel the stuffing turkeys if they are disappointed by the details of the strategic plan promised by the summer.
