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The U.S. stock market should open a very slight decline on Thursday. The index futures are predicting a small opening in lower indices on Wall Street. Futures on the Standard & Poor's 500 symbolically retreating from 0.02% to 1 081.50 points and those on the Nasdaq 100 grappillent 0.04% to 1 820.50 points. On Wednesday, the NYSE boosted by the publication of an indicator better than expected U.S. manufacturing, which has eased concerns over the takeover led to depression of investors in August surged forward. The Dow, which fell 4.3% in August, its worst performance this month for nine years, rebounded 2.54% to 10,269 points.The Nasdaq gained 2.97% to 2177 points while the S & P advanced 2.95% to 1080 points.

On the foreign exchange market, the euro was up slightly against the dollar in the morning, but struggled to increase its gains amid anxiety before the monthly monetary policy decision of the European Central Bank (ECB) and on the eve the very important report on employment and unemployment in the United States. The European currency traded at 1.2819 dollars against 1.2807 dollars late Wednesday afternoon.

Overseas, a new set of indicators is the program on Thursday, pending the release of employment figures tomorrow.Investors await including weekly claims for unemployment benefits, the second estimate of productivity in the second quarter, industrial orders for July and the promises of home sales for the month of July.

On the side of values, the automotive sector should stand today. The month of August has actually been the worst for U.S. auto industry since 1983. Sales fell 21% to 11.47 million vehicles. Ford Motor has reported a sales decline of 11%. General Motors, which is preparing an offering of securities to reduce by nearly 61% of the state capital, reflecting a drop in its sales by 25%.

Always on the side of values, the U.S. computer giant Apple has unveiled the updated version of its iPod portable should be very surrounded.The Apple brand has also significantly lowered the price of its Apple TV boxes, for playback on a television screen high definition video from a computer.

Also note, Henri Termeer, the boss of the U.S. biotech Genzyme, acknowledged that his company sought after by Sanofi-Aventis is for sale. Genzyme is good to sell, "but not at $ 69 per share, or $ 18.5 billion in total, as proposed by the French said parton biotech.

The sun should be looking good these next few days on the coast of the Vendee and Charente-Maritime. In this time of summer vacation, the sea should also be delicious. Nothing like with the weather of February 28 last, when the storm Xynthia that swept the country sowed chaos in this part of the Atlantic coast. In the only common Vendée La Faute-sur-Mer and The Sting-sur-Mer, the most affected by the storm, 29 people died. Nearly five months after tragedy, these two villages devastated recovering gradually. But in this popular tourist region during the summer, Xynthia has left marks that plagued the start of the season.

If the Office of Tourism Osten-sur-Mer laments a decline in attendance of about 10%, traders stand more negative findings."The customer is down 30% to 40%," says Pascale Soussi Restaurant La Terrasse in Sin-sur-Mer. "And it was discussed among traders: It's the same for everyone. At the restaurant La Marina, sixty meals are served daily on the usual hundreds. At the Hotel du Port, Osten-sur-Mer, Sophie Ramon prepare a statement even less favorable in the hotel which was flooded by 82 inches of water in late February and closed more than a month, attendance was halved.

Three campgrounds closed

In case the destruction of several campsites and many second homes have contributed to empty the streets of the town. A La Faute-sur-Mer, the municipal camp was finally closed and that the Blue Waves should not reopen until April 2011.As for camping Municipal The Sting-sur-Mer, it is only half available: caravans and tents can again take up residence in the "upper" since July 1. But the other part, where you could rent mobile homes, chalets and caravans, remains closed for repairs. It represents, in itself, a hundred beds and less.

Overall, La Faute-sur-Mer, about 8000 tourists were least expected, on the 35,000 usually greeted each summer. Added to an unfavorable economic situation by traders, these accommodations are destroyed a significant shortfall.

Ile de Re also shows a small decrease

A few dozen kilometers south of La Faute-sur-Mer on the Ile de Ré, the damage from the storm were less important. "The island is absolutely destroyed!", Recalled the manager of a hotel restaurant.A campsite for a works council remains closed this season and the hotel Odalys does not welcome new visitors that from 31 July.

Le Relais Thalasso, also closed after the storm has finally reopened its doors on July 4. Four months of work have been necessary for the institution to recover from the flooding that devastated forty rooms. "Today, activity resumed normally," said facility director Didier Gireau. Our forecast for the month of August are in the standard, or even good. We have made efforts to forget the flood and that the center image is not tarnished. "

But many merchants and restaurateurs of the Ile de Ré deplore this was a small decline in attendance. Some highlight the consequences of the storm, others are pointing the finger particularly the unfavorable economic environment."The economic situation is worrying," says director of Ile de Re Tourism, Catherine Senand, refusing to incrimer the storm that left "little effects" on the island. She admits that the season has "started slowly, but expects a better August.

A "moderate" impact on departments

For François Riou, assistant executive Tourist Board of the Vendee, the impact of Xynthia remains "very moderate". Only 2% of the Vendee coast has been destroyed by the storm, "a tiny fringe" which does not affect his view, the department's tourism season. Faced with a peak at half this year, local tourism professionals will therefore want reassurances on their prospects."Only two campsites are closed on the 400 account the Vendee," he recalls.

Even finding across the neighboring department: "After the storm, only 3% of the infrastructure of Charente-Maritime have been affected," said Stephane Villain, president of the Tourism Committee of the department. "The summer looks very good," he says. "The reservation rate is substantially identical to that of 2009 which was a very good year." And we promise to visitors that the hospitality will be at appointment: "People have worked hard to accommodate visitors in very good conditions," says Stephane Villain. They may be even better than usual ".

The image of the region involved

The image of the Atlantic is at stake, as evidenced by the television campaign to promote tourism in the Vendee.Circulated in early June, the commercials were intended to "remind the values of hospitality and tourism" of the department, according to François Riou.

The regions affected by Xynthia therefore trying now to convince visitors that they are again ready to welcome them, with their usual charm and tranquility.

Turnaround at the Paris Bourse. The CAC 40, which had started the session on a drop of 0.59% to 3473.48 points, the green is gone over in around 10:30 am and continues to increase its gains since. Halfway through, the key index in Paris gained 1.48% to 3545.56 points. After the opening of Wall Street, the ACC has added to his lead to cross over the 3600 points at closing and post a gain of more than 3.05% at 3,600.057 points.

Main explanation: the set of indicators published in the euro area, which show a recovery in the private sector. Can better results than expected for a large number of American business.

– Composite Index Purchasing Managers (PMI) of the area rebounded in July for the first time in three months, to 56.7 points against 56 points in June, according to the firm Markit.In detail, the PMI manufacturing stood at 56.5 in the first estimate in July against 55.6 in June, while economists polled by Reuters had expected 55.2. The equivalent index for services rose to 56.0 against 55.5 last month and a consensus of 55.

– The industrial orders in the euro area recorded its strongest growth for 10 years + 3.8% in May from April and 22.7% compared to May 2009. Economists and analysts surveyed last week by Reuters on average expected stability for May compared to April and up 20.2% over one year.

– The German manufacturing PMI index stood at 61.2 against 58.4 seen in June and 58 expected by economists. As for Britain, the Office for National Statistics reported a 0.7% increase in retail sales compared to May and 1.3% over one year.Economists and analysts on average had forecast a rise of 0.5% a month to month and 1% compared to June 2009.

In France, INSEE announced before market that the morale of French consumers had stabilized in July after five months of degradation remains unchanged at -39, -40, when analysts had expected. The business climate indicator in industry climbed two points to 98, well above the 94 expected by observers. This is its highest level since July 2008. According to INSEE, the order books are filling up again but are still scanty.

The good news is a bit overshadowed the remarks of Ben Bernanke on the U.S. economic recovery. Judge it still too slow and the outlook remains uncertain, paving the way for new measures to support monetary policy.These ads were yesterday meant to topple the Red Wall Street, while the U.S. stock market is moving in the green throughout the session credit reports free.

The bank climb until the stress test

Investors also await with anticipation the release Friday of the results of resistance testing What happened to the European banks. In an interview with Le Figaro, the Minister of Economy Christine Lagarde said she was "totally confident" about the results of French banks.

The banking sector appears up on Thursday, the eve of the results of stress tests of European banks.BNP Paribas (4.76%), Societe Generale (5.08%), Credit Agricole (5.55%) or Dexia (3.74%) were searched

Good resistance values related to the automobile

The supplier Faurecia (1.15% to 15.49 euros) announced before market coming out of the red in the first half of 2010, net income of 102 million euros against a loss of 365 million a year earlier. The group has also sharply raised its guidance for full year. Peugeot (3.15% to 23.73 euros) and Renault (3.36% to 34.26 euros) react to this new optimistic that counterbalances the announcement of a sharp decline in car registrations in Europe in June

For his part, Remy Cointreau (0.65% to 45.14 euros) announced a turnover in the first quarter of 2010 to 2011 of 170 million euros, up 23.6%.The group will propose a dividend of 1.30 euro to the general meeting of July 27, 2010.

Plastic Omnium (2.13 to 38.90 euros%) has announced a net profit of 72.3 million euros in the first half against 8 million euros a year earlier. Turnover amounted to 1.518 billion euros and the group expects a second half "dynamic".

Technip (7.42% to 52.07 euros) published a decline in its net profit by 8.7% to 106.1 million euros for a turnover down 14.3% at 1 48 billion euros. The objectives are confirmed.

Naproxcinod of Nicox rejected the U.S.

NicOx (-21.07% to 2.24 euros) could be heckled.The FDA, the authority of medicine in the United States, has rejected his request for the U.S. market Naproxcinod of this treatment against osteoarthritis, a product NicOx expects a lot.

Unibail-Rodamco (5.42% to 147.70 euros) on Wednesday decided to distribute 1.8 billion euros to its shareholders, or 20 euros per share in respect of a return of capital. The land has issued a recurring earnings per share of 4.70 euros in the first half of 2010. The band reveal all its first-half results after market close.

End of suspense. The British oil giant has reached an agreement on Tuesday with U.S. rival Apache to sell him for $ 7 billion in assets. In a statement, it said that this sale is "all production activities of oil and gas, land and infrastructure BP" in West Texas and New Mexico, and in the desert west of Egypt. In Canada, it sells its BP exploration and production of natural gas in western Alberta and British Columbia. A total of 385 million barrels of oil equivalent.

These assets accounted for in the first half total daily production of 28,000 barrels per day of liquid hydrocarbon and more than 9 million cubic meters of gas.

Moreover, a spokesman announced Tuesday that the oil company would lay off some activities within Pakistan and Vietnam.These activities mainly concern the production of natural gas. If the amount is secret, BP said that the fields had produced Pakistan last year only 4.89 million cubic meters of gas in the country, a mere 2% of its total gas production. Activities include two Vietnamese gas fields, pipelines and an electricity generation plant.

These operations are part of the creation of a fund of 20 billion dollars to reimburse the victims of the spill. BP's objective is to sell 10 billion dollars in assets.The British group said Monday that it had already disbursed $ 3.95 billion so far in miscellaneous expenses, including compensation already paid free credit report.

David Cameron "understands the anger"

The "case" BP is in any case more than ever become a political issue, potential source of diplomatic tensions between the United States and Great Britain.Following a head to head with President Barack Obama on Tuesday, British Prime Minister, David Cameron, tried to calm things down, saying that included "completely anger that exists across the U.S. "against BP and it was necessary for him" BP mouth leak, clean the area and pays just compensation. "

"BP is a major undertaking for both the British economy and for the U.S. economy thousands of jobs depend on BP on both sides of the Atlantic. So in the interest of both countries that the group remains strong and stable future, "said David Cameron.

In a study received Tuesday, ratings agency Moody's estimates that if the spill had to stop short term, it would get at least 1.2 billion dollars in lost business and loss of 17,000 jobs in the region Gulf by the end of the year."Under a more pessimistic scenario in which the oil spill would continue until December, and the moratorium decided by Obama on drilling in deep waters until the end of the year, 7.4 billion dollars of activity would be lost and more than 100,000 jobs, "concludes the study.

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The announcement was delayed but brutal. While markets have somewhat relaxed their attention on Greece, the rating agency Moody's downgraded four notches Monday of the note of most indebted country in the euro area, "A3" to "Ba1". After his colleague Standard & Poor's, the second of the three agencies have downgraded the debt of Greek in junk bonds.

The announcement comes as setbacks. "Moody's has not sufficiently changed its ratings on European countries, the sudden it went off the crisis," Norbert J. Gaillard, a consultant to the World Bank and specialized rating agencies. The degradation of the note in Greece four notches therefore reads as an attempt to "catch up past blindness," said the economist.

A blindness that also concerns Spain, according to some analysts. And the investors live badly."What is it to follow a triple A rating agency that a country undergoing a difference in rates reflecting the risk very high?" Critic Jean-Francois Robin, strategist at Natixis, referring to Spain . The latter receives the same notes that France and Germany, so it pays interest rates much higher.

Sign of disapproval or casual coincidence? Pierre Cailleteau, the head of the sovereign rating from Moody's, that is to say, fixing States Notes, recently left the company. The agency would not comment on his departure.

Stoicism

Greece, or Spain, are textbook examples and betray policy at Moody's. The agency notes in effect "through the economic cycle", without giving too much importance to the market turmoil. This stoicism was removed Moody's market reality, but had a beneficial effect.The agency has helped calm the markets by keeping his notes. His rivals, degrading the height of the crisis, have instead fueled the panic.

Now, even out of season, the degradation of the note in Greece by Moody's has led to protests. The European Commissioner for Economic and Financial Affairs, Olli Rehn, said that Moody's decision on Greece on Tuesday "comes at a rather surprising and unfortunate, following the agreement on a program of macroeconomic adjustment between Greece, the Commission, the ECB and the IMF. "

Coup de theater in the German software company SAP. After learning, during a supervisory board that his contract was not renewed, the CEO, Leo Apotheker, has resigned with immediate effect Sunday night. He will be replaced as head of the group by the duo Co-CEOs Bill McDermott, who heads the field organization, and Jim Hagemann Snabe, responsible for product development.

"The new organization's executive committee will allow SAP to better align product innovation and customer needs.The new team will continue to lead SAP's strategy and focus on profitable growth, while offering innovations delivered in the course of 2010 to enhance the leading position of SAP in the market for enterprise software " says Hasso Plattner, co-founder and chairman of the supervisory board of SAP, in a statement no credit check payday loans .

Leo Apotheker was at SAP since 1998 and only the head of the company since April 2008. He is the founder of SAP France and was appointed Director General before the departure of his predecessor, Henning Kagermann, to ensure a smooth transition

He reproached his communication internally and externally and does not reflect the views of customers in its strategic choices.Especially, the directors have endorsed the delay by the group in the development of cloud computing, which is to enable small and medium-sized businesses access to software not installed on their networks, but via the Internet.

SAP reached in 2009 net profit down 4% to 1.8 billion euros.

A conference call will be broadcast on Monday at 14.30.

The crisis has backfired in China. With more than 8% growth in 2009, Beijing table already on a growth of 9.5% for 2010, relegating the slowdown of the first and second quarters to the level of vague memory. In any case the forecast of the State Council Development Research Center, near the Chinese government, which estimates that investment driven by the market will gradually take over from the recovery plan launched by the Chinese state during the coming year.

The property "become the main source of investment growth," said Zhang Liqun, an economist with the think-tank, in a report published Friday in the China Economic Times, a newspaper that publishes all research center. Investments in this sector are expected to jump 30% to 40%. Inflation, which feeds a lot of concern among analysts, should be contained below 3%.

Mr.Zhang also provides for a resumption of exports, which depends on the Chinese economy, which had declined in 2009. For his part, Minister of Commerce Chen Deming, recalled earlier in the week a foreign trade up 10% to 15% in 2010.

These estimates are supported by the leading indicators of economic conditions, past the green for several months already. The index of purchasing managers has reached 56.6 in December, registering its highest level in twenty-two months. Above 50, the index indicates an expansion of production.

Concerns about credit

In the third quarter of last year, China's economy recorded 8.9% growth. Even in 2008, which saw the economic slowdown begin has not broken a positive revision of growth figures – like previous years.The National Bureau of Statistics announced a correction of + 0.6% of the increase in gross domestic product (GDP) in 2008 to 9.6% after a reassessment of the place of service sector growth.

For 2010, the Chinese machine should not make a break. President Hu Jintao called for continued rapid economic development and stable, when television delivered his vows December 31. Most analysts expect growth to exceed that of 2009. The Asian Development Bank on a table and GDP growth of 8.9%, against 9% for the International Monetary Fund and 9.3% for the Economist Intelligence Unit.

But challenges remain unchanged. Faced with the explosion of credit in 2009, which helped finance the generous recovery plan, the Chinese Premier did not hide some concerns."It is good that our bank loans are more balanced, better structured and to a lesser extent," confided Wen Jiabao to the official news agency Xinhua last weekend. He asserted, however, want to maintain the stimulus to avoid the risk of jeopardizing the country's development. In 2010, Beijing will need more than ever think about a way of sustainable growth for the drafting of the new five-year plan, covering the period 2011-2015.

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The first results of the survey of 102,000 employees of France Telecom are falling, and they are not in favor of the operator. "Felt generally very degraded", "weakening the physical and mental health of some employees'" work atmosphere tense, even violent "are some of the findings prepared by the firm specializes Technologia at the end of the investigation since mid-October in France Telecom. A summary of 75 pages which had access to the Associated Press was delivered Monday morning to both management and unions of the operator.

They were more than 80,000 employees of the group or 77.9% to the questionnaire prepared by Technologia, Workforce oldest in the company and the most experienced showing particularly concerned.

"A functional mobility badly accompanied"

The summary report shows the "strong concerns" of employees surveyed, with the consequence including the loss of the "pride of belonging to France Telecom" and "felt generally very degraded." They were in fact 96% say that proud of this membership cons only 39% today. The difficult working conditions, with a "weakening of the physical and mental health", mainly those in charge of sales and "interventions customers.

More generally, the investigation reveals a "functional mobility badly together," and a "geographical mobility of non-sensitive framework, thus confirming an earlier observation made by many employees.In total they are 55% declare themselves "somewhat dissatisfied" on a professional level, and 65% believed that their working conditions have deteriorated, according to the CFE-CGC.

Moreover, "social relations deteriorated" are found among non-executives, including a "major failure of management" and "working atmosphere tense, even violent.

"The diagnosis is indicative of the internal situation" responded Patrice Diochet the CFTC, adding hope that "this diagnosis is a detonator." "We must use this tool to put pressure on the ongoing negotiations on stress," he added.

Playing the card of transparency in anticipation of these results, France Telecom announced a total of 32 suicides among its members for two years. The operator has not yet made public its reaction.

The boss of EDF, Henri Proglio, presented Thursday to Laurent Wauquiez report on the promotion and development of alternation that Nicolas Sarkozy had ordered in April. Secretary of State for Employment wants some of its proposals – the promotion of alternation in terms of performance of public contracts, creating a portal to alternate or launching a campaign communication – to be "implemented immediately. To achieve the objective that five young people either in training by alternating between 2015 'and is closer to Germany in the field, it will launch workshops alternation.

Simplifying funding

These "think-tanks of learning", composed of representatives of training centers of chambers, organizations collecting funds and training of young apprentices must make by February "concrete answers to three questions major.

Primo, Laurent Wauquiez asked to indicate "how to help trainees in their daily lives, especially their conditions of transport, accommodation, purchase of equipment, their enterprise search or choice of their training.

Deuzio, he asks "how to develop alternate" and "extend to all levels of curriculum" and "tertiary trades" that employ only 8% of apprentices in France while there are massive deposits in tourism or call centers. The issue of quota systems, mentioned in the report Proglio, should be particularly addressed.

Thirdly, the Secretary of State for Employment will "simplify the steps or funding to encourage more companies to capitalize on the alternation.

The Paris Bourse breath on Monday following a sharp rise in a row Friday to U.S. unemployment figures. The improvement on the labor market in the United States did not establish a huge bullish consensus within the financial community. Factors support abound yet not: the rise of the dollar against major currencies has helped export values to hold their own game in the coast. But the recent outperformance of equity markets suggests that the good news on Friday was already included in prices.

At closing, the Paris Bourse shows a small decline of 0.17% to 3840 points. Even locations in London, which fell 0.22% and Frankfurt back from 0.57% to 5784 points.

More at 18h15.