Operate a full turn emergency braking faces the risk of skidding. This is however what are forced to European automakers after the turn at 90 degrees taken this summer by their clients. Sales of cars in the third quarter were for the first time since the beginning of the year, Daimler and Fiat volume and value in Renault. If the Italian has maintained its goal of result for this year, its worst scenario does more a fall of 50 to 85 of its profits next year if demand plummeted to 10 to 20. In a market which, in Europe, could be back this year to its 1996 level, the owner of Mercedes as the manufacturer of the Logan had choice to revise downward their expectations of operating profitability for 2008, respectively at least a third and a fifth. Without even daring to mention 2009. Their stock market course, falling respectively 64 and 74 since the beginning of the year, do so in their place. They valued them for historical low against expectations of results. To ensure a braking also brutal, better is to have liquidity in the engine. Or the melting of about 50 of those of Daimler and Fiat since January is not made to reassure the shareholder passenger.
Night vision

At night, almost all cats are grey. At the time where the shadow of recession hangs over most areas, any upturn is more noticeable. Showing an increase in its sales by 7 in the third quarter, with 2.1 in its core business, the French hypermarket Carrefour gives a positive note. A close look, it's more the inflection of a trend that the performance itself is notable. Food sales is progressing by 1 while the plastijo is declining from 3.3. But, in the first half, the food was in the red and the plastijo retreated twice. This reversal allows therefore José Luis Duran to maintain its objectives for growth in 2008. A simple confirmation that supports speeds of feat by days. As the international displays also suitable performance in Europe and, especially, in Latin America and Asia, Carrefour may reassure investors, who inflicted a stock market fall by 15 in a month and 41 in a year. The task is more difficult for PPR, whose activities in the public distribution are shrinking significantly, making it more sensitive to their compensation by the good behavior of Gucci Group and Puma. But, with a fall of 40 in a month and 69 in one year, the markets had no doubt anticipated the worst.
Return of gas
Handle to the best of the bubbles that compress, is an art. That Air Liquide is there working, it is natural as one of the world's leading industrial gases. Its Director General, Benoît Potier, perfectly made the message of the strength of its economic model, what hope its net result two digit growth this year. And, as in the parade, the firm says taking a cocktail of measures to prevent an uncommanded explosion in its balance sheet. Not only the short-term funding needs are secure and the need for working capital closely followed but, increasingly, redemptions of shares have been suspended. And this is where a risk of popping a disappointing paradox in the King of compression and liquefaction. Because the share buyback program had been "boosted" in 2007 to optimize the balance without sacrificing investment, which was reflected in an increase in debt. The Bill totaled 528 million euros year last (excluding the shares included in the liquidity contract) to acquire 2.4 of the capital at the average price of 92,17 euros, a higher price of half closing of yesterday...