World and National News

U.S. stock markets start this last day of the week in green. The Dow Jones gained 0.25% to 11,122 points in early trade, the Standard & Poor's is 0.48% to 1179 points while the Nasdaq 100 advance of 0.95% to 2459 points.

Investors are reassured by the president's speech to the U.S. Federal Reserve, Ben Bernanke. According to the latter, high unemployment and low inflation are calling for further easing of monetary policy in the United States. "There should be, all things being equal, reasons to act again," he said in a speech prepared for a conference organized by the Federal Reserve Bank of Boston.

The macroeconomic news is particularly busy today.And indicators are mixed:

– Retail sales in the U.S. rose for the third consecutive month and more than expected, 0.6% from August, according to official figures released in Washington.

– The increase in new orders and deliveries resulted in a much stronger growth than expected manufacturing index from the Federal Reserve Bank of New York in October. The index of activity called "Empire State" appears to 15.73 in September against 4.14 and 6.50 expected by economists polled by Reuters.

– Consumer prices rose 0.1% in September, less than expected. Inflation appears unchanged from August, while economists expected a rise of 0.1% for the Core and 0.2% for the core index.

– U.S. consumer sentiment has deteriorated further in October, against all expectations, falling to its lowest level since July.The index of consumer sentiment stood at 67.9, against 69 expected by economists polled by Reuters. It was at 68.2 last month.

– U.S. business inventories rose 0.6% while economists polled by Reuters had forecast a slightly lower increase of 0.5% business

Europe wants to remain the premier tourist destination. With their new skills in tourism since the Treaty of Lisbon, representatives of Twenty-Seven yesterday in Luxembourg adopted a text betting on quality and competitiveness to give new impetus to the sector.

In terms of jobs as image, tourism plays a significant role for Europe. In 2008, the continent has recorded 370 million international travelers, night 40% of the global total. The sector represents 1.8 million businesses, 5.2% of jobs and more than 5% of GDP. And tourism "can help strengthen the sense of European citizenship", stressed on Tuesday representatives of Twenty-Seven in their "Conclusions on a new political framework for European tourism".

But challenges abound. Competition is becoming tougher with other worldwide destinations. Expectations change.Importantly, the crisis has left its mark in 2009, the EU has seen its tourist numbers decline of 5.6%. And travelers have become new habits, leaving far fewer, shorter, with a tighter budget, and reserving more later.

Environmental Label

So many tracks are they under consideration in the wake of the strategy released in June by the Commission. The general idea is to improve the sector's competitiveness and to adapt to a changing audience, especially with the aging population.The arrival of tourists from emerging countries also gives change makes sense and developing relations with China, Russia or India, for example.

Another avenue discussed: to prolong the tourist season to attract the elderly and disadvantaged families, hence the idea of an exchange of information that would better coordinate the school holidays at European level. A second major thrust is to focus on "Brand Europe" facing increased global competition. He is playing the card of quality and environment, developing labels increasingly popular with consumers. "It is important to try, at all levels, strengthen the image and visibility of Europe", underlined by the conclusions. For, despite the crisis, holds its upscale clientele.And ecotourism, still in its infancy, has a strong development potential for companies focusing on the fight against climate change and the dependence on water and energy.

Finally, Europe promises to improve the coordination of decisions having an impact on tourism, on the right passenger or consumer protection, for example. Areas where the impact can be immediate: in April, and during the eruption of the volcano Eyjafjöll, the closure of airspace had lost some 1.7 billion euros in the sector.

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Difficult to quantify what a national day of action is costing the unions. But according to information gathered by the AFP, each union pays between 30,000 and 400,000 euros per day of demonstrations.

"One day national event where everyone came to show in Paris, more expensive (from 300,000 to 400,000 euros) a national day of action, which is departmental Unions (about 3,000 euros on average per DU), where there may be several events in different cities, "says the treasurer of the FSU, Eliane Lancet.

"Since the beginning of a National Day of Action against pensions, we spent a ladle, from 50,000 to 60,000 euros. For example I wrote a check for 4,000 euros to pay the 100,000 stickers distributed, "she adds."What is certain is that my actions on the budget year, which is 100,000 euros to a total budget of 2.5 million euros, will be exploded," she said beforehand.

Cars, giant balloons and streamers

Thus, the figures obtained by Agence France Press, it is estimated at several hundred thousand euros the total annual budget of "actions" of unions, representing 4% to 13% of their total budget. Example, Thierry Lesca, the treasurer of Solidarity, spends € 45,000 per year for his union activities on a total budget of 344,000 euros, or 13%.

The bulk of the costs for unions is to arrange buses to get to events at a price of approximately EUR 600 easy payday loans.The UD-CGT du Val-d'Oise has rented 23 for example the Paris demonstration of 23 September, while 54 cars left the Seine-Saint-Denis, but some are "lent by cities or businesses" says Hervé Ossant (UD-CGT-93).

"For a day like Tuesday, the equipment represents a small 10,000 euros for the Ile-de-France and about 1,500 euros for other regions, or about 40,000 euros," says Vincent Bernard his part, National Secretary of the pole development and activities of the CGE-CGC.

The giant balloons filled with helium in the colors of such unions cost between 1,000 and 2,000 euros and banners between 100 and 400 euros, depending on their size, but it is an investment reused at each event.

In detail, the kit is perfect for displaying each union a sum of about 10 euros, ranging from stickers to 4 cents to the flag (6 to 7 euros), to the scarf or jumper (2 to 2.50 euros), without forgetting the umbrella (5-6 euros).

With AFP

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Agree on the merits but not on solutions. The G7 meeting in Washington for a dinner Friday night, agreed that excessive and disorderly movements in exchange rates were undesirable. However, no ground has been reached on actions to address the problem. "I certainly do not expect there to be no unanimous agreement this weekend on the coins on those rigid exchange rate, and how they are expected to fluctuate," lamented the Canadian Finance Minister Jim Flaherty whose country chairs the G7 this year.

The president of the Brazilian Central Bank, Henrique Meirelles, has followed suit by saying that reaching agreement was "desirable" but "short term" it did not.Brazil, along with China, pointed to by the United States and Europe who accused him of conducting interventionist policies penalize the rest of the world economy. Friday night, Henrique Meirelles has remained firm in its position by announcing that his country had no intention of stopping to intervene to curb the appreciation of the real. The Brazilian Finance Minister Guido Mantega, the first to use the term "war of currencies", but warned: "If we do not address the whole problem and let each country to conduct its policy, we run the risk of failure of the G20. "

China does not change course

For its part, China has responded by saying she would continue to reform its exchange rate policy at its own pace."We continue to believe that China needs an exchange rate regime based on the market," said the governor of the PBOC, Zhou Xiaochuan. "I think the difference is that in China, we believe this is a progressive, gradual, rather than shock therapy."

The U.S. Treasury Secretary Timothy Geithner has again condemned the "extent of intervention in exchange markets from countries seeking to impede the appreciation of their currencies undervalued." Jean-Claude Juncker, a leading finance ministers of the euro area, also deplored the reaction of his counterparts in emerging markets: "We face the same message to the Chinese that Washington, even if we say one way different, "he said.

Towards strengthening the weight of the IMF?

Although the subject was not discussed during his breakfast meeting Friday, the International Monetary Fund (IMF) met to reaffirm its position in the voice of its director general Dominique Strauss-Kahn. "If you want to restore confidence in an uncertain world, you need to work together. If you want to put people back to work, you need to work together, "he said emerging countries at the meeting of IMF member states. But, addressing in particular the United States, Dominique Strauss-Kahn said that "we can not expect China to do that overnight."

The International Monetary and Financial Committee (IMFC), the body responsible for setting the broad guidelines of the IMF which serve 24 countries, is expected to issue a statement Saturday after meeting in the U.S. capital, on behalf of 187 Member States .He hopes to reach a compromise non-binding.

Deal with disputes, several Ministers believe that only the IMF could offer a solution to the crisis through the strengthening of its monitoring procedures for foreign exchange. "From my point of view, the IMF is a natural choice to facilitate better coordination in monetary policy," said EU Commissioner for Economic Affairs, Olli Rehn. "Ultimately, it is the responsibility of countries to act, but the IMF must actually speak on the challenges and provide support to the action," said Timothy Geithner.

An increased role of the IMF on this issue could be ratified at the next G20 summit to be held in South Korea on 11 and 12 November.

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As often in stock, it all started with a rumor. Adobe may soon be swallowed by Microsoft, according to a blog of the New York Times. It did not do more to burn titles to Adobe Stock Exchange New York Thursday night. They have jumped 17% to reach its highest session at $ 30 per share before finally closing on a leap of 11.5% to 28.69 dollars. Microsoft has advanced 0.41% to 24.53 dollars.

According to the U.S. daily, the CEO of Microsoft, Steve Ballmer, reportedly met in secret recently the boss of Adobe, Shantanu Narayen, in the latter's office in San Francisco. Up for discussion: the organization of the struggle against the domination of Apple in mobile phones. Based on information from anonymous employees and consultants familiar with the matter, the New York Times reports that a takeover would have been mentioned as a possibility.

An offer to $ 15 billion

The software company would be a target for Microsoft that could have to pay at least $ 15 billion (10.7 billion euros) on the basis of current market capitalization of Adobe business card. If the operation is concluded, it would mark a turning point in Microsoft's fight against Apple. It would allow the group to integrate computer graphics and video capabilities in software dedicated to new models of phones and tablets.

A new stage is reached in the major offensive that leads the group of Steve Ballmer to strengthen its presence in Internet media and mobile platforms. Adobe is indeed one of the greatest tools used by sites for videos and graphics. "It's certainly possible.This could be summarized as 'the enemy of my enemy is my friend' like Adobe and Microsoft have a common enemy for Apple. The Flash Platform in the hands of Microsoft could be a valuable weapon against Apple, "said Toan Tran, analyst at Morningstar. But for now, neither Adobe nor Microsoft have spoken on the subject.

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Eurostar trains will no longer be exclusively those manufactured by Alstom. The operator of the Channel Tunnel has confirmed an order with Siemens Velaro trains of ten. The old trains will also be renewed to match the design of new trains. The total amount of the order amounts to 800 million euros, 600 million would amount to Siemens.

Following the announcement of this order, the reactions are sharp. Jean-Louis Borloo, Minister of Ecology and Dominique Bussereau, Secretary of State for Transport, expressed their "astonishment" in a joint statement. By choosing Siemens, Eurostar does not take into account the "security rules in the bidding to renew its commitment oars, say two members of the government.Indeed, they remind us, "the intergovernmental commission of the Channel Tunnel conditioned approval of model trains at high speed to the strict observance of safety rules currently applicable in the tunnel."

"Overall, the image of the United Kingdom, France, have full responsibility for security on the French side of the Channel Tunnel, could not accept the conditions of exploitation that would not guarantee a continued and even improved security conditions in this book exceptional underwater 54 km long, "declared Jean-Louis Borloo and Dominique Bussereau, invoking the memory of three fires that occurred in the tunnel in 1996, 2006 and 2008.

Alstom, the unsuccessful competitor, added in a statement.The company stresses that "the rules of safety regulations that govern the passage of trains through the Channel Tunnel meet the highest standards and not allow the passage of trains Eurostar said he retained".

While the Financial Times reported Thursday that the French government tried to persuade Eurostar to continue to buy French, Eurostar that the French had agreed six months ago with the technical specifications of the tender which resulted in the selection of Siemens orders for new trains.

"Sure, there have been recent doubts expressed by the French part of the intergovernmental commission, but this same French side had told us six months ago that it was not a problem," said CEO of Eurostar Nicolas Petrovic, the French press on Thursday.Ultimately, the commission did not find anything wrong with the commissioning of a distributed power train, as proposed by Germany's Siemens to bid for Eurostar. Nicolas Petrovic also said that his company had "a long history of safety in the Channel Tunnel."

New destinations

The new device should enable Eurotunnel to connect Amsterdam, Cologne and other new destinations. Thus, the British daily said that Amsterdam can reach London in less than four hours and thereby relieve an airline specifically charged.The new trains will also help shorten journey times already existing between London, Paris and Brussels increase the carrying capacity of trains.

The Financial Times points out that this command is emblematic in that it reflects the competition now existing in the field of High Speed Trains. It is the first time a partner of SNCF acquires high-speed trains from Alstom another supplier. It is thus a stinging setback for Alstom, which provided the current fleet consists of 28 Eurostar trains put into service 16 years ago, and a major victory for the high speed train "Velaro of Siemens.

By mid-afternoon, title Alstom losing 0.73%, to 36.68 euros. As for Siemens, the title loses 0.21%, to 77.54 euros.

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The Conservative Chancellor of the Exchequer, George Osborne, appears to take perverse pleasure in bad news for the big annual conference of his party. After much frightened voters a year ago, promising an unprecedented period of austerity, he did it again this year in Birmingham, this time announcing the end of universal family allowances.

The measure will save 1 billion pounds per year and participate in all-out efforts to reduce the government deficit. It would affect 1.2 million families whose incomes place them in the two tax brackets higher. These people earning over 44,000 pounds per year (51,000 euros) are typically part of the target heart conservative votes.

2500 pounds per year for three children

With this announcement, George Osborne has attacked one of the strongest symbols of the welfare system introduced in Britain after the Second World War. Currently, all households receive a lump sum of 20 pounds (23 euros) per week for first child and 13 pounds per week (15 euros) for each subsequent child.With the reform, the shortfall for a wealthy family with three children, is nearly 2,500 pounds per year.

"Believe me, I am well aware that those who pay taxes in the higher bands are not super rich," said George Osborne, but it is very difficult to justify taxing people on low incomes to finance family allowances to those who earn more than them. "

The disappearance of the universality of family allowances is the first concrete example of the radical reform of the welfare state that prepares the coalition government of Conservatives and Liberal Democrats.The Labor opposition and many associations have spoken out against this decision "shows that nobody will be spared from budget cuts unwarranted government," warned Brendan Barber, the representative of the Trades Union Congress (TUC).

Harsh budget cuts

George Osborne also announced Monday that the government would introduce a cap on the total amount of benefits a family can receive in order to end a system that trap millions of our citizens in dependence. "No family should earn more in benefits than it earns an average family by working," justified the Minister of Finance.The ceiling should be around 500 pounds per week (580 euros), or 26,000 pounds (30,000 euros) per year, affecting 55,000 families.

For many observers, these two measures are very symbolic to prepare public opinion to the hardness of budget cuts to be unveiled in two weeks, on 20 October by George Osborne. The government of David Cameron has promised to eliminate in five years the deficit, provided 10% of GDP this year, bequeathed by the previous Labor rule.

Conservatives defend this policy of severe austerity, explaining that inactivity budget plunge the country into even deeper crisis.Despite the slowdown in economic activity in the country in recent months, Osborne avoids the scenario of a new recession, and continues to expect GDP growth of 2% this year.

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Ninjago. The new range of Lego is heralded as one of the biggest launches in the history of Danish toy group. This collection of action figures building will be sold from January 2011, along with playing cards and films. In France, where she is being listed by dealers, this range will help the group move into high gear.

Fifth player in the toy in France with 4% market share, there is still Lego figure challenger to Hasbro and Mattel. But it is growing at high speed at the point of becoming the leading seller of toys for boys. Last year, the manufacturer of plastic bricks has passed 6.5 million boxes in France, the average price of 20 euros, and saw its sales climb 25%. Between January and August, sales rose 32%. So, Lego France pointed to higher goals.He is now 30% rise in 2010, and over 20% in 2011. "We want to double our market share in France by 2015," says Eric Le Figaro Maugein, CEO of Lego France. "We have fallen behind in the handling of the market."

Present in France for fifty years, Lego is not always well understood by parents. "Lego is not a complicated toy reserved for budding engineers! Eric insists Maugein. In France, the fourth global toy market, first in Europe, where there is strong parental involvement in the selection of toys, the growth potential is enormous. "

A board game based on Harry Potter.

Concessions, but not without consideration. Criticized for its overrepresentation in the International Monetary Fund, the European Union expressed its willingness Friday to trim the powers available to it within the institution, to make more room for emerging countries. But if the Americans do too efforts.

"It is important that the EU proposals do not expect others to move forward," admitted the Belgian Finance Minister Didier Reynders, whose country currently chairs the EU.As the pressure continues to increase: after the United States, China and Russia have raised their voices last week, requiring a reform agreement is reached before the G20 summit in November.

A common position

A few days of EU-Asia summit in Brussels, notably host Chinese Premier Wen Jiabao and South Korean President Lee Myung-bak, European countries have managed to find a common position on this delicate subject. According to a paper, Europe was ready to give up two of the nine seats it holds at the IMF, to allow rotation of the advanced countries and emerging markets. It would also accept a change in quotas of about 5% for developing countries. Is identical to that proposed by the United States, but below 7% of the effort demanded by China, Brazil, India and Russia instant payday loan lenders.Finally, the paper proposes to put an end to the tacit agreement which restricts the presidency to a European the IMF and the World Bank to an American.

Compensation

But the 27 counterparties want. Thus, they hold that the Board of the IMF maintains its current 24 seats, while the U.S. wants to return to the 20 seats provided by the statutes. Failing agreement by November, four emerging countries may lose their administrator. Each of the 187 IMF member countries has a quota which determines roughly the right to vote, its financial contribution and the maximum amount it can borrow. But the structure created in the aftermath of the war reflects less the balance in the world today.

The EU also wants to extract concessions from the United States, which are the only ones to have a de facto veto power in the Fund. The case looks complicated.By mid-September, the United States indicated that they were not ready to give up this power. The IMF will discuss the issue at the next weekend, during his fall meeting in Washington.

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Photo credit: Francisco Seco / ASSOCIATED PRESS