Leigh's Feed
Aug 1, 2014

Insurer AXA’s profit surges despite low interest rates

PARIS, Aug 1 (Reuters) – Europe’s second-biggest insurer,
AXA, posted a better-than-expected first-half profit
on Friday and raised its cost-savings target, shrugging off the
impact of falling interest rates.

Net income rose 25 percent on a comparable basis to 3.01
billion euros ($4.03 billion) in the first half, boosted by
strong earnings growth and lower restructuring costs, the
company said in a statement.

Jul 31, 2014

Braving weak French economy, investors pile into its property

PARIS, July 30 (Reuters) – Undeterred by a stagnant local
economy and falling rents, yield-starved investors are pouring
capital into France’s commercial real estate market at the
fastest rate since the start of the financial crisis.

Investors ploughed 10.7 billion euros ($14.34 billion) into
French office, retail, logistics and industrial properties in
the first half of the year, up 73 percent from the same period
last year, real estate adviser CBRE said.

Jul 23, 2014

Unibail-Rodamco confirms outlook as retailers’ sales pick up

PARIS, July 23 (Reuters) – Unibail Rodamco SE,
Europe’s biggest real estate company, has confirmed its 2014
earnings forecast as a nascent economic recovery boosts tenants’
sales at its shopping malls.

The Franco-Dutch shopping centre operator said on Wednesday
it was on track to meet its target of recurring earnings per
share growth of at least 5.5 percent for this year, after
recurring EPS grew 6 percent in the first half to 5.52 euros.

Jul 3, 2014

France to miss deficit, growth targets: IMF

PARIS (Reuters) – France will miss its deficit targets as growth in the euro zone’s second-biggest economy fails to live up to the government’s hopes, the International Monetary Fund said on Thursday.

In its annual report on the French economy, the IMF also saw a real threat that voter resistance to spending restraints could jeopardise France’s long-term strategy for restoring the public accounts to health.

Jun 25, 2014

France to cut red tape, extend easy loans to fight housing crisis

PARIS, June 25 (Reuters) – The French government promised on
Wednesday to slash red tape holding back housing investment and
to ease conditions for interest-free loans to halt a home
building slump that is choking growth in the euro zone’s
second-biggest economy.

Despite a chronic housing shortage, new home construction
has fallen to lows not seen in more than 15 years, with
bureaucracy putting off developers and high prices discouraging
would-be buyers.

May 29, 2014

Argentina clinches landmark debt repayment deal with Paris Club

PARIS, May 29 (Reuters) – Argentina reached an agreement on
Thursday with creditor nations
on repaying overdue debts, in a landmark deal that should open
up much-needed international financing for the country.

The Paris Club of creditors said the agreement will allow
Argentina to clear over five years arrears that stood at $9.7
billion at the end of April.

May 28, 2014

Analysis – Housing snags tug back France’s economy

PARIS (Reuters) – Strangled by regulation and high prices, weak French housing investment is proving a major drag on the euro zone’s second-biggest economy as it struggles to stage a convincing recovery.

President Francois Hollande pledged more than a year ago to slash red tape holding back construction, hoping to bring within reach an oft-repeated promise to build 500,000 new homes a year.

May 28, 2014

Housing snags tug back France’s economy

PARIS (Reuters) – Strangled by regulation and high prices, weak French housing investment is proving a major drag on the euro zone’s second-biggest economy as it struggles to stage a convincing recovery.

President Francois Hollande pledged more than a year ago to slash red tape holding back construction, hoping to bring within reach an oft-repeated promise to build 500,000 new homes a year.

May 23, 2014

Dexia exemption tests Europe’s bank health checks

BRUSSELS/PARIS, May 23 (Reuters) – Dexia’s plan to
shrink and eventually disappear marks it out as so different,
the European Central Bank (ECB) believes, that no other bank can
realistically plead for similar special treatment in upcoming
stress test of the sector.

ECB supervisors agreed on Thursday that Franco-Belgian Dexia
would not have to prove it could withstand a financial crisis in
the Europe-wide stress test, reducing the chances of it needing
further fresh capital, sources familiar with the talks told
Reuters.

May 12, 2014

French central bank sees recovery struggling to gain momentum

PARIS (Reuters) – The French economy will grow by just 0.2 percent in the second quarter of 2014, the central bank forecast on Monday, as company morale faltered despite a pro-business push by the Socialist government seeking to tame unemployment and cut the deficit.

The Bank of France estimated that the euro zone’s second-biggest economy would also grow 0.2 percent in the first three months of the year, half the euro zone average according to a Reuters poll of economists. Germany is forecast to grow 0.7 percent.