Finance, it's like the pole vault. With the publication of quarterly results, should be the bar more top to get a medal. From this point of view, JPMorgan Chase has not done in 2006. Three years after the merger with Bank One, which followed several disappointing reconciliations, the New York Bank finally steals record by record. After having started 2006 in great shape for a profit increase of 36 in the first quarter, it ends it on hats wheel with a profit excluding exceptional in progress of 48. She succeeds even better than the expectations of the market for the eighth quarter in a row. The merit of Jamie Dimon is great, that prowess did not of itself. Penalized by the conditions, the retail banking market sees profits fall 11. The Bank of investment, once very disappointing, on the other hand playing with the best. With excellent performance in the Council and the market as profits grew 51. The Bank, who made 93 of cost savings in the merger, is therefore ready to resume the road to the acquisitions. His performance having finally doped his scholarship course, its capitalization him provides both.
The squirrel of Hamburg
To have succumbed to the economic patriotism well before that the term does Flores, the municipality of Hamburg is a gate of more than Honourable output at the time of the accounts. Although that dearly acquired in 2003 (15 above the market price to allow Allianz to opt the head), its 10 stake in Beiersdorf, that she has to give, should enable it to identify a capital gain of 110 to 160 million euros. All without any year cosmetic after four successive lower performance Slightly higher than a booklet of savings, the financial performance of the operation remains ridiculous with the risk taken to keep the manufacturer of cream Nivea in the German fold and the escalation of the Frankfurt Stock Exchange for three years. But reaching as fast return on investment paid 37 times the benefits is unquestionably a feat. If the minority of Beiersdorf can that be welcomed see widen a float long limited one-third of the capital, the speed with which the Hanseatic City out of the capital three months after that course scholarship covered its costs leaves augurer a reinvestment in the very short term in EADS, the other large employer in the commune.
Phones that sing
Multiply the skills also helps multiply profits. The alliance between Ericsson telephony specialist and Sony consumer electronics giant and produces almost miraculous results in the universe of mobile telephony. While the three leaders global Nokia, Motorola and Samsung are the penalty, Sony-Ericsson gets the best performance of the sector. The contribution of Sony music and photo, added to the skills of Ericsson, to increase sales of 64 in the last quarter of 2006 and 51 in a year. Better, the new Walkman phones Walkman and CyberShot camera-equipped laptops have an effect boosting margins. The substantial increase in sales leads and an explosion of profits, multiplied by three in the fourth quarter and progress of 185 in one year, tutoyant the symbolic bar of EUR 1 billion. Strong dynamic which allows to gain share of markets on its competitors, from 7.7 to 9 of the world market in a quarter while increasing its average selling price, Sony-Ericsson account do better in 2007 and to move in the third before Samsung. Always worn by its most remunerative products Swedish-Japanese should also continue to improve an already increased 50 margin last year.
Is still far from there to move it is 20A sign of scientific recognition that not wrongDesired by all this reform is in fact very complex to implementBut the project of Viviane Reding goes beyondAnd this whatever their age or their statusWe are dealing with London as a new destinationIn a city where Ségolène Royal obtained 54We will open 6 or 7 by the end of the year The Commission is not afraid to contradictIt was recognized that in the latter case
