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Olympus, trying to recover from an accounting scandal of almost one billion euros revealed last fall, said Monday anticipate an annual net loss of 32 billion yen (311 million), mainly because of difficulties of its camera division.

This prediction of the Japanese group, which also manufactures optical instruments – much more profitable business – compares to a profit of 3.87 billion yen for fiscal year 2010-2011.

For the third quarter of 2011-2012, Olympus, which holds a global market share of 70% in the endoscopic diagnosis, showed a loss of 756 million yen against a profit of 2.04 billion yen a year earlier. 

The publication of these results had been delayed by the illumination of an accounting scandal, which saw the band assign are related to its acquisitions in several different funds for ; rer the publication of his losses, a practice that became common after the bursting of the Japanese financial bubble in 1990.

Following this scandal, the value of the stock market melted Olympus, calendar year 2011 having resulted in a decline of almost 59% of the action. Since early 2012, it rebounded more than 26%.

This increase is especially seeing Olympus alliances with companies interested in the activity of endoscopy, such as Fujifilm, Sony or Samsung Electronics.

President of Olympus Shuichi Takayama said that a decision on a possible alliance could not take place before the establishment of a new direction in the wake of the extraordinary shareholders meeting of shareholders scheduled for April 20.

The group relies heavily on the AG to start turning the page scandal, with at least six of the 11 board members, including Shuichi Takayama, who did not represent. 

Michael Woodford, the former CEO of Olympus, which has highlighted the scandal, plans to attend the general meeting which promises to ê be stormy.

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The Tokyo Stock Exchange ended down 0.5% Friday after three sessions of consecutive gains, investors playing the card of caution pending the publication of the U.S. monthly data for job creation.

The Nikkei ended down 0.51% or 44.89 points, to 8831.9 points, while the Topix broader, yielding 0.23% or 1.76 points, to 760 , 69 points.

Values, Sony has awarded more than 8% to 1,435 yen. Investors welcomed the appointment of a new CEO, despite a loss in profit forecast.

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The unemployment rate in France within the meaning of the International Labour Office (ILO) gained 0.2 points in the third quarter to 9.3% on average in metropolitan (9.7% including overseas departments) According to data seasonally adjusted (SA) Interim released Thursday by INSEE.

The number of unemployed stood at 2.631 million in the metropolis, or 51,000 more than in the second quarter.

Unemployment rates in the second quarter have been confirmed at 9.1% of the workforce in metropolitan and 9.6% with Dom.

In one year, the unemployment rate in France fell by 0.1 points in the third quarter.

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The Spanish Sunday should inflict a severe punishment vote to the Socialists, in power since 2004, the balance comes down to an economy threatened by recession and record unemployment. The right has already promised the land of sacrifices to redress public finance. Nearly 36 million Spaniards to the polls Sunday, November 20 to elect 350 deputies and 208 senators. The People's Party led by Mariano Rajoy (poster at right) would deal a severe defeat for the Socialist Party of Alfredo Perez Rubalcaba (poster on left)

Nearly 36 million Spaniards to the polls Sunday to elect 350 deputies and 208 senators. These early parliamentary elections – the election was expected to take place in March 2012 – were called in July by Prime Minister Jose Luis Rodriguez Zapatero on the bottom of the debt crisis in the eurozone.The outcome is clear: the Popular Party (PP) would deal a severe defeat at the Socialist Workers Party (PSOE), in power since 2004. According to recent polls, the PP would win an overwhelming majority (between 190 and 198 seats out of 350). Its leader, Mariano Rajoy, 56, prepares to assume the costume of the Prime Minister.

The PSOE, led by Alfredo Perez Rubalcaba – Zapatero withdrew to represent – is credited with less than 30% of the vote, 115 to 120 seats. The Socialists are paying the price of painful austerity.

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Bank stocks weigh on the trend of European stock markets Tuesday morning, as yesterday affected by concerns over tensions on the rates of sovereign debt in the eurozone.

At 10:50, the index of European banks lost 2.48%, biggest drop sector in Europe, with a drop of 4.73% for BNP Paribas, the largest decline CAC 40 in Paris, against 2.49% for Credit Agricole and Societe Generale to 3.41%.

Meanwhile, yield spreads between bonds French, Belgian, Dutch and Austrian one hand and the Bund on the other have reached unprecedented levels since the inception of the euro.

"It's pure continuation of yesterday.

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The business service firms in the euro zone shrank even more clearly than expected in October, the debt crisis has sealed new business, increasing the risk of another recession, the monthly surveys show Friday PMI.

The debt crisis, which hurts companies in the euro area, has experienced dramatic new twists in recent days with the political crisis in Greece with the announcement of a referendum on the new European support plan, which threatens drive down the Papandreou government, or to compel the country to leave the euro area.

The deterioration of the macroeconomic situation has led Thursday the European Central Bank (ECB) announced a surprise cut of 25 basis points interest rates at its first meeting chaired by Mario Draghi.

The services PMI calculated based on monthly surveys Markit fell to 46.4 in October against 48.8 in September, its lowest level since July 2009.

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AvtoVAZ, the first Russian car manufacturer, 25% owned by Renault, reported Tuesday a net profit increased more than two in the first six months of 2011, thanks to higher sales of Lada .

The net half-year stood at 6.4 billion rubles (151 million) for sales of which increased from 40% to 82.2 billion.

AvtoVAZ, generally considered a good barometer of the Russian car market has elapsed Lada 291,540 over the period, representing an increase of 31.3%.

According to the Association of European Businesses (AEB), the Russian market as a whole is expected to reach 2.45 million new cars sold in 2011, continuing the recovery from a 2009 that resulted in a division by two of the market.

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Bank of America has issued a third quarter profit Tuesday through various items, but the core business of the bank showed signs of weakness with a decline in profits from loans and higher spending.

Accounting gains and asset sales offset a decline of 15% of profits from loans.

The bank also gave first place to JPMorgan Chase ranked U.S. bank by assets. The action loses 3% in pre-market.

"The figures put forward are entirely different from reality," said Matt McCormick (Bahl & Gaynor Investment Counsel). "Without the adjustments, I think it would have stagnated at best.Net banking income (NBI or turnover, Ed) is particularly low. "

Net income totaled $ 5.9 billion, or 56 cents a share, against a loss of 7.6 billion (77 cents) a year earlier. The comparison included an accounting charge of $ 10.4 billion.

The bank posted a taxable income from the sale of shares in China Construction Bank $ 3.6 billion.She also posted a pretax profit of $ 700 million from the sale of securities and a pretax profit of $ 6.2 billion relating to accounting adjustments.

Against these gains, BofA has suffered a loss before tax of $ 2.2 billion related to capital investment and the "strategic investments" and various other losses related to specific elements for a total of 3, $ 3 billion.

Net banking income stood at $ 10.7 billion against 12.7 billion a year earlier.

The net interest margin stood at 2.32% against 2.72%.The margin contraction was also found at JPMorgan and Wells Faro in the third quarter.

Overall, the total GNP of the bank has grown from 6% to $ 28.7 billion.

The decline in GDP was accompanied by an increase in spending that the bank is working to control this. Expenditure excluding interest expense increased 4.7% to $ 17.6 billion.

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Organization of Petroleum Exporting Countries (OPEC) Tuesday lowered its forecast for global growth in oil demand, for the fourth consecutive month.

OPEC blamed the slowdown in developed countries and the willingness of China and India to reduce the growth of consumption.

OPEC has reduced its forecast for global growth in demand of 180,000 barrels per day in 2011, is the ability of a medium-sized refinery.

OPEC now expects global demand this year will increase to 880,000 bpd to 87.81 million bpd.

For next year, the cartel forecasts a growth in demand of 1.19 million bpd, 70,000 bpd is less than its previous forecast.

OPEC believes that a poorer than expected performance of the U.S. economy alone may reduce the global demand of 200,000 bpd in 2012, although the likelihood of a third quantitative easing could mitigate its effects.

In addition, a defect has become "the most likely hypothesis in Greece, which can not be excluded", said OPEC, which anticipates stagnant demand in Europe next year.

According to the Secretary General of OPEC Abdullah al-Badri, the Libyan oil production is expected to reach one million barrels per day (bpd) in six months and find that a year from its level before the armed conflict has he said Tuesday.

Meanwhile, the CEO of Total Christophe de Margerie said that Libyan crude oil production in 2012 would find its level before the war.

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Negotiations to reach an orderly dismantling of Dexia takes place on many fronts Friday, in a race against time to allow the board of directors of the Franco-Belgian bank to approve a road Saturday afternoon in Paris .

The fate of Dexia and should be played one day before the Franco-German meeting between President Nicolas Sarkozy and Chancellor Angela Merkel in Berlin on Sunday should be mentioned that the larger issue of a coordinated European bank recapitalization.

This leaves just over 24 hours for negotiators to reach a squaring of the circle that includes both separate solutions for the main subsidiaries of bank and set up a bad bank with guarantees French and Belgian state.

The Belgian regulator has requested suspension of trading of Dexia until Monday morning, a deadline that allows the bank to be able to properly inform investors about its future.

In Belgium, the government held Friday morning a small council of ministers on the issue, and regional representatives were also asked to meet with Yves Leterme, Prime Minister of current affairs.

Yves Leterme and Finance Minister Didier Reynders warned Thursday the French government that Belgium would not bear the burden alone.

Both countries must agree on the funding guarantees to provide for the financing necessary for the liquidation phase of a bond portfolio valued at 95 billion euros.

The question of nationalization of Dexia Bank Belgium, Dexia's retail banking in the country, has not yet been decided.

The Belgian daily L'Echo mentions a possible takeover of Friday Dexia Bank Belgium by large European banks, citing the names of Santander, BBVA, HSBC, Deutsche Bank, Rabobank

and Societe Generale.

In France, Prime Minister François Fillon Dexia should address the issue and the financing of local authorities during a trip in the afternoon at Richelieu (Indre-et-Loire), it was suggested in his entourage.

The scenario currently being considered in France through a backing of the main activities of Dexia at the Caisse des Depots (CDC) and the Postal Bank.

On the Turkish front, the French daily Les Echos writes that the Russian bank Sberbank plans to launch a bid for Denizbank, the Turkish subsidiary of Dexia, the newspaper said, is the subject of several expressions of interest.

The side of Luxembourg, the rumor that the sovereign fund of Qatar is in negotiations with the Grand Duchy to resume Dexia Banque Internationale à Luxembourg (BIL) is also gaining ground, according to the Luxembourg newspaper The Daily.

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