The American goddaughterMovement is evidence by walking

When all signal turn red, it is more tempting to jump parachute to fasten her seat belt. The shareholders of Ryanair, who abandoned their headquarters yesterday by fall of 15 in a day's action, well understood. If the sky is still identified until late March, the horizon is particularly bleak from the beginning of the next fiscal year on April 1. On the one hand, the European champion of low-cost companies will not then be cover for its purchases of kerosene which represent a third of its cost. On the other hand, its leaders fear a drop in traffic and revenue due to a likely recession and the weakness of the pound sterling. If the Group should profit of 470 million euros, an increase of 18 for the fiscal year which ends the following profits could drop by 50! A forecast based on a barrel that would be somewhere around 85 dollars that can be regarded as overly pessimistic. As Ryanair also reduced the average price of its tickets to continue to fill its planes despite the alienation of a customer the power to purchase in Bern, the scissors effect can be dramatic. Prudence will undoubtedly encourage investors to wait to see how the economy evolves before returning on board.

The American goddaughter

Movement is evidence by walking. Weakened as all banks by the sub-prime crisis, Dexia resumed the offensive. While its American subsidiary FSA had fallen into the red for a little more than 100 million dollars in the third quarter, his "triple A" note has just been confirmed by all the major agencies at the time where other financial transatlantic fences. By injecting $ 500 million in FSA to increase its own funds by 18, Dexia does therefore not mouth hole but wants its subsidiary means to seize the opportunities that offered its good financial health. Specializing in municipal funds whose owners are much more solvent than attracted by the "sub-prime" borrowers at risk, FSA enjoys expertise attracts today hesitant clients to speak to others. The group will thus, with the support of its parent take advantage of a situation which has weakened its competitors.

"China fara is."

Even if it catches the mouse, the color of the cat now is China's leaders. The launch in full of the country in the market economy has made leap course of all raw materials and at the same time the profits of the giant Russian and Anglo-Saxon of the sector. First global buyer of iron, coal, copper or nickel, Beijing no longer wants to simply sign the cheques, he also wants to receive dividends in inviting to the capital. It supports over to be held from the tremendous ongoing redistribution among the behemoths of the industry. Who sees the Russian Rusal, second largest producer of aluminum in the world, courting Norilsk, the champion of nickel and palladium, while Brazilian Vale, leader of the iron, assails the Swiss Xstrata and BHP Billinton, the first of the minors, is 140 billion on the table for Rio Tinto, itself, just blow to 36 billion Alcan to Alcoa... It is also of Alcoa that Chinese Chalco is today used to buy respectability. Do not want to relive the humiliation suffered by his compatriot, the Cnooc oil prevented in 2005 to focus on the American Unocal, it is with Alcoa, the company of Pittsburgh, Chalco, even if he pays the bulk of the addition, purchased 12 of Rio Tinto. But it's him who is driving and will certainly set up auctions for preempting BHP and avoid its legislation.