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The U.S. stock markets move sharply lower on Monday. The Dow Jones lost 0.84% ​​to 12,551.25 points, the Nasdaq 1.02% to 2830.66 loose points and the S & P 500 drops 1.08% to 1329.34 points. On Friday, the New York Stock Exchange ended down, undermined by employment figures disappointing compared with analysts' expectations.

Hiring remained stalled for the second straight month the U.S. in June, with only 18,000 net new jobs and the unemployment rate rose to 9.2% of the workforce.

Alcoa opens the ball in quarterly results

The trend, however, should be fragile before the beginning of the season half-year results. As usual it is Alcoa (-2.32% to $ 16) which will open the show of quarterly, as soon after the close of Wall Street Monday.JPMorgan Chase will be the first major U.S. banks to issue, with results expected Thursday, the same day as Google, which will set the tone for the technology. Investors will know very quickly if the U.S. financial sector has suffered from the decline in trading activities. These results also give a taste of the figures will be announced later by European banks.

According to Thomson Reuters data, the results of listed companies on the S & P 500 should show an average increase of 7.3% compared to second quarter 2010. But this increase could be higher if a majority of companies beat the consensus.

The euro dropped to $ 1.40

On the foreign exchange market, the euro was digging its losses against the greenback on Monday.Mid-afternoon in Paris, the single European currency was worth 1.4050 dollars against 1.4258 dollars on Friday night, falling to levels seen for two weeks.

On the macroeconomic front, the United States, negotiations between Democrats and Republicans over raising the debt ceiling is again blocked, the Speaker of the House of Representatives, Republican John Boehner, who announced that he would not find a comprehensive agreement with the White House.

In the process, the U.S. Treasury Secretary Timothy Geithner gave assurances that the U.S. would not default on their financial commitments, while Barack Obama announced he would hold a press conference Monday at the White House bad credit pay day loans.

In Europe, the eyes of investors looked to a meeting of key economic officials of the European Union in Brussels on Monday morning to "coordinate their positions" on the second aid package to Greece. It will bring together the presidents of the European Council Herman Van Rompuy, the Eurogroup Jean-Claude Juncker, European Central Bank (ECB) Jean-Claude Trichet, the European Commission José Manuel Barroso and European Commissioner for Economic Affairs Olli Rehn.

Airbus hopes to double Boieng on an order from American Airlines

The side of values, Airbus hopes to win against Boeing (-1% to 74.32 dollars) a major order from American Airlines by offering $ 6 billion (4.24 billion euros) of preferential financing, reported on Monday The Wall Street Journal.

Always on the side of values, Sanofi (2.49% to 80.35 dollars) today announced positive results in a phase III study for Lemtrada, a drug for the treatment of multiple sclerosis developed by Genzyme's new subsidiary. Sanofi put his hand in April on U.S. biotech Genzyme for more than 20 billion. In addition, Sanofi said on Monday the sale of its Canadian dermatology Dermik to Valeant for $ 425 million (300 million) in cash, in order to focus on priority activities in the United States and Canada.

In the same area, the Swiss company Lonza, specializing in life sciences, announced Monday the acquisition of the U.S. Arch Chemicals (11.24% to 46.91 dollars), a company active in biocides.The cash offer to 47.20 dollars per share values ​​the company at $ 1.4 billion, which represents a premium of 36.7% over the share price on the last thirty days.

In addition, the U.S. aerospace equipment Precision Castparts Corporation (0.79% to 164.07 dollars) will strengthen the sector by buying aero Primus International Society for $ 900 million in cash.

Also note, the Financial Times, the fund Blackstone (-3.12% to 16.48 dollars) sold its shares in the Chinese Dili Group, while the group would not be able to freely adjust its prices .

The 2012 presidential election will be decided in part on the field of taxation. In an interview in Le Monde, the Paris mayor proposes, as an individual and "beyond tax reform" in the program of the Socialist Party, to do more to contribute to debt reduction the richest of France. Bertrand Delanoe, who also claims to support the candidacy of Martine Aubry, decides to create a tax "exceptional and limited in time" on high incomes.

"The truth is that we need new resources to reduce debt of France and restore the public, he says in the daily newspaper. [...] So yes, I support what you ask most favored an effort "extra.In a context where the countries situated on the outskirts of the euro area are struggling to convince markets of the sustainability of their debt, the mayor of Paris has combined the fight against the deficit to a real "war": "And when you are war, they say the truth, "he said.

Fusion of the income tax and the CSG

Asked about the unpopularity of this measure, the elected official responded that "citizens may be more courageous leaders" and recalled that in 2008, when he announced to the Parisian tax increases before the election, "They put their trust in me well no fax cash loans." The government in turn made a recent tax reform, repealing the tax shield and at the same time reducing the wealth tax.

If the program of the Socialist Party is not considering special tax aimed at the richest, yet it provides to increase the progressivity of the income tax, now he considers unfair. His plan for 2012 provides for merging the income tax and the CSG, with the aim to simplify taxes and make it more redistributive. An idea which is also his way to the right, particularly in Jean-Francois Cope and Henry Gaino. The pen of the Elysée found Saturday morning in Libération that the proposal "is worth pondering. A condition to be very attentive to the issue of escalation, "he said.

So last night, Wall Street closed up, supported by good figures on private employment, and that Friday morning, Asian stock markets are displayed in green, in Europe, the trend is positive too. In Paris the CAC 40, which took 0.47% yesterday to close at 3979.96 points, titillates the 4000 points in early trade (0.47% to 3998.78 points), it reaches a threshold regularly but beyond which it fails to settle.

The European Central Bank (ECB), anxious to curb inflation, raised interest rates yesterday for the second time of the year and reported new turns of the screw to come despite intensifying debt crisis in the euro area. In the wake of this decision, the euro rose against the dollar before they resell them in the ground this morning (-0.14% to 1.4338 dollar), investors have built long the new monetary tightening.

The U.S. employment on the radar screen

Today is expected to 8:45 the monthly budget of the state in late May. But first, the Bank of France will deliver its business surveys in industry and market services in June.At noon will unveil the INSEE index of construction costs and commercial rents in the first quarter and oil prices and imported raw materials in June.

American side, we expect first unemployment figures and employment in June (1430) and then those of consumer credit in May (21 hours).

Supply: one and a half late for Renault

Renault (-0.01% to 40.47 euros) will produce its electric batteries in 2014, a year and a half behind its original schedule, another disappointment for the automobile manufacturer that makes the electric car the major axis of its future.

EDF (-0.60% to 27.18 euros) will invest 250 million euros in the Romanche valley, on the road to Alpe d'Huez to replace six old hydroelectric plants by a new underground structure , the largest hydroelectric project group in France.The rating agency Standard & Poor's said Thursday it fell one notch to "AA-" with stable outlook, the rating of the long-term debt of the EDF group, considering that the support of the French State group had increased.

Sanofi (0 cheapest personal loan rates.63% to 55.65 euros) Thursday announced the termination of a study on the use of Multaq in patients with permanent AF, where the most severe heart problems. In addition, Merck and Sanofi announced Thursday the appointment of Jean-Paul Kress as President of their European joint venture of Sanofi Pasteur MSD vaccines.

BNP Paribas (0.25% to 51.95 euros) is the last candidate in the running for the takeover of German bank IKB, but an agreement is not imminent, said Thursday a source close to the .

Gourgeon renewed at Air France-KLM

Air France-KLM (-1.09% to 10.41 euros).Pierre-Henri Gourgeon, renewable for four years as CEO of the company, said Thursday that the group had always announce its mega-aircraft order this summer and that Airbus and Boeing offered every other competitive products.In addition, the Franco-Dutch group announced a 2.9% increase in traffic in June and decreased 1.7 points to 82.1% of cooeffecient occupation.

The bank BNDES Brazilian public refuses to take sides in the battle between the French distribution group Carrefour and Casino (-1.22% to 65.82 euros) for control of the Brazilian distributor CBD-Pao de Acucar, said Director, Luiz Eduardo Melin.

The developer Kaufman & Broad (3.10% to 21.65 euros) confirmed predict a doubling of its annual results with the amlioration its gross margin and control of its operating costs and expenses Financial.

Given the green light Thursday by the shareholders of the transatlantic exchange operator NYSE Euronext to merge with Deutsche Börse marks a victory for its chief executive Duncan Niederauer, who has strongly defended the project since mid-February.

Chaumet (LVMH: 0.50% to 129.60 euros) has a good dynamics of sales and is now focusing on its watch business to increase its presence in the global market. Louis Vuitton has announced the acquisition of the studio of Swiss watch The Making of Time, for an undisclosed sum.

Seb (balance 74.77 euros) announced that it had been authorized by the Chinese authorities to raise its stake to 71.3% stake in Chinese Supor Group.

No revolution International Monetary Fund (IMF). This is the message from the first press conference by Christine Lagarde as executive director of the institution, after the sudden departure of Dominique Strauss-Kahn. The French kept the three priorities of the fund established before his arrival: address the problem of debt in the developed States, to prevent overheating and inflation in developing countries and assist States in their fight against unemployment .

"The problem of sovereign debt for all advanced countries, even if the focus is on the euro area and Greece in particular," she said in Washington during his first press conference at the headquarters of the institution . A meeting of the Board of the IMF will be held Friday to decide the payment of the new tranche of aid to Greece.It calls on this Greek political parties to agree on the reforms needed. "I hope they can learn by the examples given by the political parties in Ireland by political parties in Portugal," she said.

"18 hours of meetings"

Christine Lagarde has generally adopted a modest attitude and merely paint in broad strategy the International Monetary Fund: "I'm the Fund since 24 hours, 18 hours spent in meeting," did she pleaded. She presented her action plan "three Cs". First "connectivity", "all economic problems are related to each other." She then stressed the "credibility" of the Fund, "our work must be honest, fair and balanced."Finally, she defended an approach to "complete": the issue of deficits is essential, but that of unemployment and social affairs should not be overlooked. Point of view already developed by Dominique Strauss-Kahn. A fourth "C" as "continuity" can be added to this list.

She also said the channel France 24 have "talked on the phone" with the former director to discuss "a number of files in progress." "It was a strictly professional contact and devoted exclusively to the estate that I take," she said.

Christine Lagarde has also repeatedly stated that the Fund was "serving" of its 197 members, he was there to "provide services" to help restore the "instability" of the world.It also intends to "enhance the legitimacy of the IMF" by ensuring "a better representation of its members" via voting rights but also recruitment. Many commitments made during his campaign from emerging countries who want to have more weight within the institution. Or, in the future, get direction.

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Yellow Pages will not achieve its objectives this year. The group of directories and local intelligence warned in a statement that its result for 2011 would be affected by "social movements in the strength of the PagesJaunes in France" that "have greatly disrupted the business of June. " Their impact is estimated at "about 20 million euros on its annual turnover."

Following this announcement, the title PagesJaunes fell by almost 10% to 5.523 eurosdans early trade while the CAC 40 index opened down 0.14%.

Natixis the broker remains confident despite this warning: "This does, we believe, not question the underlying improvement in activity and the mix of PagesJaunes," said he.He reiterated his opinion 'Buy' with a price target lowered from 9 euros to 7.6 euros.

Orders below expectations

While the group was counting on a few months ago a stable turnover and gross operating margin (GOM) compared to 2010, supported by a growth in orders. PagesJaunes But now announces that "the orders booked by the group in the second quarter of 2011 were not up to expectations." He warned then that "it will not be able to maintain its objectives of stability in sales and gross operating margin for its entire fiscal 2011."

Social movements are related to a "business reorganization plan," said PagesJaunes, which is "the specialization of some of the sales force in certain sectors and an ongoing relationship throughout the year with advertising customers across multiple channels. "

But "if social conflict is, without doubt, the recovery in activity, it is indeed confirmed for nine months," analysts at Natixis relativize. The controls have in fact increased by 1.4% in the fourth quarter 2010 and 3.1% in the first quarter 2011 improved early in the second. "Like the mobile (100,000 customers at end-March), we remain confident about the monetization of investments made by the management for three years," adds the broker.

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"It's an important day for the history of our company, our shareholders and our employees," said Friday Thierry Breton, the CEO of Atos Origin IT services. At 99.99%, the shareholders approved the purchase of SIS, Siemens IT Solutions and Services, the division of German giant in the computer.

The new group has annual sales of 8.7 billion euros and represents a global workforce of 78,500 employees, of whom 28,000 are from the German giant. However, in 1750 job cuts were decided, including 650 on a voluntary basis in Germany, "which are financed and provisioned to the tune of 250 million euros by Siemens," says the CEO. The job cuts outside of Germany will be decided in the headquarters of the subsidiaries in which the two companies are present, including the United States.But the subsidiary in Austria provided by Siemens will be retained as well as activities in the countries of Central and Eastern Europe, including Romania and Russia, where Atos is absent or not present. In addition, Siemens provides its team of Chengdu, China.

"Reference majeure"

Activities provided by Siemens should generate an operating profit of 50 million euros in the second half.

Friday, the German group has signed a contract outsourcing its IT to Atos amounting to 5.5 billion euros over seven years. With this new dimension, the French group wins a critical size, the top ten IT service companies in the world, "allowing us to be successful in all tenders, which was not previously the case "added the CEO free instant credit score."We have a major reference, Siemens, which is the first industrial group in the world," adds Charles Dehelly, director of operations of Atos. The German group brings its contracts with the U.S. Coca-Cola, Nike, Cesar Palace, in Germany with Deutsche Bank, Allianz, Hoechst, Bayer and brands of cars. Finally, both groups decided to create a joint research center, with 100 million, funded equally by Siemens and Atos. They will share revenue from patents.

In return for its contributions, Siemens will receive 840 million euros. This amount is provided by a capital increase of 15% stake in Atos. Siemens will retain for at least five years its shares, which will increase the number of shares Atos 70 to 82 million.Siemens gets over 250 million euros as convertible bonds and 176 million in cash.

As the two groups prepare the marriage for more than a year, employees of the new group will begin work in their new positions on Monday. "I've never been a consolidation so fast," says Thierry Breton.

To mark the marriage, Atos Origin has decided to change its name and simply called Atos. "There are both A Atos Origin, Siemens and S" to "that marks the bridge between the two groups," said Marc Meyer, the director of communications.

The financial situation of the United States more and more worried. Parliamentary sources, an agreement on raising the ceiling of the country's debt must be found between 15 and 22 July for next time to approve a budget bill before August 2, the date beyond which the States United will not be able to repay their debt. If U.S. lawmakers do not agree to raise this ceiling, the leading world power will end up in default. The International Monetary Fund takes this risk seriously.

So, President, Barack Obama, himself, was invited to the debate and tried to restore calm between Republicans and Democrats. Not a chance. Elected officials have sharply criticized Republicans last night how Obama handles this issue."Maybe he (Obama) was taking Valium, it would calm him a bit and he finally decided to come talk to us," even launched Republican Senator Pat Roberts at a press conference. Barack Obama reiterated Wednesday that he intended to end the tax benefits granted by more affluent George Bush. The U.S. president does not want to hear about budget cuts on social programs or on investments in education, research and infrastructure. It is precisely these points that crystallize tensions.

The situation would become so heavy that the Treasury Secretary Timothy Geithner United States would consider resigning soon, according to Bloomberg financial news agency. An official from the Treasury departm said Timothy Geithner has not reached a conclusion in this regard.For the time being.

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