"It depends how you define the word" press "and" edit "," their replies in advance Laura Lang. The latter has extensive experience in communicating with users, readers of tweets, Facebook addicts and fans of digital tablets.A graduate of Wharton, a prestigious business school of the University of Pennsylvania, she serves on the board of directors of the agency Vivaki (Publicis Groupe) as well as advice clothing company VF Corp.. And Benchmark Electronics, industrial society and electronic engineering.

Korean became the first vendor in the world of smartphones in the third quarter, Gartner said. In one year, sales of smartphones have tripled to 24 million units. Far ahead of the 17 million iPhones sold by Apple on the same quarter.

One in four is a mobile smartphone

The Battle of the smartphones is more important than this is the most dynamic segment fast cash advance. Sales of mobile in the world increased by 5.6% year on year to $ 440 million, while those of smartphones grew 42% to 115 million. This is also where manufacturers achieve the highest margins. "The smartphone market growth slows.

Aware of the pitfalls, Paris, who chairs the G20 seeks to avoid the reasons for tension. First objective: to show that Europe is determined to solve the crisis of its debt, which raises concerns around the world.To do this, nothing better than to show the strength of the Franco-German couple at a luncheon on Friday at the Elysee, bringing together around the president, the French finance minister and Baroin his German counterpart Wolfgang Schäuble.

"We have made good progress on the path to find how to package a comprehensive and lasting agreement," said the French way out. For Baroin, progress has been made "on the joint bank recapitalization," he may say no more.According to European sources cited by Bloomberg, the euro area is working on the assumption of a default of 50% of Greek debt and would have identified seven options to boost the European Financial Stability Fund (EFSF), from the processing bank the simple assurance of securities issued by the countries most vulnerable.

Individual Solutions

Paradoxically, this sacred union between France and Germany is no longer visible in the markets guaranteed high risk personal loans. Yesterday, the spread between ten-year French and German was 93 basis points, to the detriment of the former. Never since the creation of the euro area, France has borrowed as much from Germany even though the absolute rates at ten years French remain historically low.In the eyes of financial markets, it shows the weakness of leeway in Paris, to boost the EFSF or possibly refinance its banks.

The other cause of tension that the French Presidency is to avoid global order. At their working dinner last night, finance ministers from the G20 should discuss ways "to ensure global growth strong, sustainable and balanced", as agreed for three years. But unlike previous summits, where everyone was asked to revive its economy, the solutions will be this time individual. "At Cannes, each country will come with two or three steps to support its economy depend on the fiscal space of each other," says Bercy. What display a facade of unity.

However, the Twenty will not avoid the reasons for tension.The heaviest between China to the United States, since the passage by Congress in Washington, a bill denouncing the undervaluation of the yuan. The newest arrived yesterday: the emerging propose strengthening of $ 350 billion financial capacity of the IMF for help, among other things, to finance Europe. A proposal that has received a plea of ​​receiving U.S. Treasury Secretary Timothy Geithner, for whom the IMF has "largely sufficient resources to deal with the crisis."

ALSO READ:

"Europeans and concerns of the world at the G20

Market sanction and the decision of the U.S. Federal Reserve (Fed) on Wednesday. In fact, the Central Bank of the United States announced new measures to support the U.S. economy.It will sell well here in late June 2012 for $ 400 billion of treasury bills and short-term buy for the same amount with a longer maturity in an attempt to lower interest rates in the long term (an "Operation Twist"). To support the mortgage market, it will also acquire real estate securities without increasing the size of its portfolio, according to the Committee.

IMF worried about global growth

However, markets did not appreciate his verdict on the economy, noting the "continuing weakness" of the labor market, with an unemployment rate of "high" of 9.1%, coupled with "significant risks "related" tensions in global financial markets. ""The opinion of the Fed on the economy is deteriorating a lot and it seems it can not do much with the Republicans (he) asked not to intervene," says Yutaka Miura, analyst at house brokerage Mizuho Securities, the Dow Jones Newswires.

Thus, the market had expected better, especially after worrying about the International Monetary Fund. The day before, the institution headed by Christine did not hesitate to raise the specter of a global recession and launched at policy makers in the world "a fervent call to action". At the same time the institution has significantly downgraded its growth forecasts for the global economy. This is expected to grow 4% in 2011 as in 2012, 0.5 points below its previous forecast of 4.5% last April.

Beijing sees its manufacturing activity deteriorated

To this must be added the emergence of concerns about the economic situation in China. Manufacturing activity in the country has deteriorated in September, reaching its lowest level in two months, according to preliminary PMI bank HSBC said on Thursday. PMI Purchasing Managers calculated by HSBC in September reached 49.4 against 49.9 in August, knowing that a figure below 50 means contraction. "We are seeing a moderation in growth as in the past two months.Fears of a hard landing for the Chinese economy are unjustified, "said in a note Qu Hongbin, the chief economist for China at the bank.

In France, the growth of private sector activity in France in September fell to its lowest level since the beginning of the recovery in 2009, the PMI "flash" in the manufacturing sector fell to 47.3 against 49.1 in August.

In Germany, the composite PMI, which includes industry and services, stood at 50.8, its lowest level since July 2009 against 51.3 in August.

In addition, investors are increasingly worried about the evolution of the crisis of public finances in Europe. Greece announced Wednesday its intention to launch new austerity measures to convince the Troika and obtain payment of a new tranche of 8 billion euros in October that will allow it to avoid bankruptcy.

On the foreign exchange market, the dollar was up against the euro. It was worth 1.3544 dollars per euro, against $ 1.37 the day before in Asia. Oil falls as himself down under the effect of a rise in the dollar and pessimistic forecasts from the U.S. Federal Reserve (Fed) for the world's largest economy.In early electronic trading, a barrel of "light sweet crude" for October delivery gave up $ 1.21 to 84.71 dollars per barrel of Brent North Sea crude for October delivery lost $ 1.26 to 109, $ 10.

In the U.S., the weekly claims for unemployment benefits will be unveiled at 14.30, and the composite indicator of economic activity for the month of August in 16 hours.

Earlier this afternoon, the markets also expect the statements of Robert Zoellick and Christine Lagarde, respectively president of the World Bank and IMF Executive Director, at the opening of the annual meetings in Washington

Values ​​to follow

• Banking

BNP Paribas (-2.09% to 23.94 euros), which saw its share price unscrew more than 50% in three months, may request assistance to private investors understood the Financial Times.Analysts said that the institution may seek to raise up to EUR 2 billion from investors from Qatar and Abu Dhabi. However, an assumption that sweeps by the Director General of the bank Baudoin Prot. Investors also will keep an eye on Societe Generale (-4.76% to 16.12 euros) and Credit Agricole (-1.14% to 4.61 euros).

• Saint-Gobain (-2.98% to 28.67 euros)

The group has conducted Wednesday through placement of a bond issue in two tranches for a total of 1.75 billion euros with an average maturity close to six years and an average coupon of almost 4% in the refinancing of debt specialist construction materials. The transaction was heavily oversubscribed as the order book has reached the aggregate for the two tranches over seven billion from nearly 400 investors.

• Danone (-1.98% to 43.02 euros)

The company launched its next bond issue of € 500 million due 2016.

• BioAlliance (-5.65% to 3.17 euros)

The group announced Wednesday the confirmation of the clinical trial schedule Livatag against the primary liver cancer, starting with the pivotal Phase III in 2012. The company also reported a residual income of 1.02 million euros in the first half.

Investors in Europe, in Asia and the United States fear that Greece is not able to meet these budget commitments, which threaten to bankrupt the country and aggravate the crisis in Europe. The German Minister of Economy Philipp Rösler has also not ruled out a bankruptcy ordered Greece to save the euro.

These uncertainties weigh heavily on European banking stocks, weighed down by their exposure to sovereign debt but also by fears about their solvency and funding.Specialists in Harbor Advisory today "Wall Street will evolve with European banks, whose main problem is exposure to sovereign debt."

United States, Barack Obama will submit to Congress today plan to revive the economy and jobs announced Thursday, said on Sunday a senior White House. The President will renew his call "to Congress to adopt this bill, which contains the kind of proposals to grow the economy and create jobs."

Week is low in business results – the retailer Best Buy and diverse manufacturing Pall is the only component of the S & P 500 to publish figures – investors will focus primarily on a series of macroeconomic indicators.The latter include retail sales, the producer prices and consumption as well as statistics on the manufacturing sector.

Note, however, leading indicators of the Organization for Economic Cooperation and Development (OECD) published this morning, reporting a "slowdown" of the world's major economies.

The euro and oil fall

In the wake of renewed tensions, the euro fell against the dollar, the euro remained sharply lower against the greenback Monday, falling below $ 1.35 even briefly, as a result of a new access market panic response to the crisis in Europe. Mid-session in Paris, the single European currency was worth 1.3603 dollars against 1.3649 dollars on Friday night. Earlier, the euro fell to 1.3495 dollars, its lowest level since Feb payday advance online. 16. The euro also fell to its lowest level in a decade against the yen.The euro bought 104.64 yen against 105.91 yen Friday. In the early morning, the euro fell to 103.90 yen, its lowest level since June 2001.

Under pressure from a stronger dollar, a barrel of oil has also dropped on the ground. In electronic trading in the morning, a barrel of "light sweet crude" for October delivery lost 1.23 dollars to 86.01 dollars per barrel of Brent North Sea crude for October delivery at $ 1.02 111 $ 75.

Values ​​to follow

The side of values, the French group Technip Engineering said Monday the acquisition of the entire capital of the U.S. Global Industries (51.36% to 7.80 dollars), a specialist oil services submarines, on the basis of a valuation of $ 1.07 billion (770 million).Technip will pay $ 8 cash per share, Global Industries, a premium of 55% over the closing price of its prey Friday night on Wall Street.

For its part, the online retailer Amazon (0.88% to 213.26 dollars) would be in discussions with publishers to launch a book rental service digital subscription, said Sunday the Wall Street Journal in its edition line.

After the unexpected departure of the patron saint of Internet giant Yahoo!, Carol Bartz, rumors of a union between Yahoo! (-2.21% To 14.16 million) and AOL (-2.72% to 14.32 dollars) have resurfaced. The CEO of the Internet service provider America, Tim Armstrong, have consulted with investment companies to test investor appetite for a reconciliation between the two groups advance Bloomberg.Tim Armstrong become the leader of the group.

For his part, Hertz Global (-2.54% to 9.58 dollars) has extended the date of its offer for Dollar Thrifty (-1.22% to 64.08 euros) Automotive Group (DTG) until November 1 .

Wynn Resorts (3.04% to 153.25 dollars) through its subsidiary, Wynn Macau has announced the acquisition of land over 20 hectares to the government of Macau for approximately $ 193 million. The plot, located on the Cotai area, should allow the development of a resort and recreation.

LE FIGARO .- What impression do you get from the Summer of PS?

Bernard ACCOYER. – We saw a new battle of images and egos between the candidates in the primary. The PS seems to be a party curled up, in contrast to a world wide open. At La Rochelle, it was all in the posture of a facade of unity and there was nothing to find ideas to respond to the challenges of the moment. The PS stands still deal with the crisis.The implementation of its program for 2012, comparable to 1997 and even 1981, would have two consequences: swelling public spending and raise taxes, while France must control its spending and tax measures to adjust without affecting the household consumption or business competitiveness.

Among the subjects of contention between the majority and the opposition included the "golden rule". Do you support the convening of Congress?

It is a responsibility of the President of the Republic. It is major. French Parliament's vote on a commitment to fight against excessive deficits is a key decision. It is also a commitment of 17 countries in the euro area. We must measure the impact of the convening of Congress. I trust the president to decide or not.For my part, I hope of course that the golden rule is adopted, but I also measured the risks of this approach. Currently, all the conditions do not seem right for the look.

Namely, that you do not have three-fifths majority to pass it?

Indeed, I spoke with most opposition leaders. They spoke clearly. They are not committed to voting the golden rule in Congress. Pending the outcome of consultations with the Prime Minister, I note that the French Socialist Party is the only one in Europe to adopt this posture.

Should we still call the Congress?

The president said if the opposition decided not to join this initiative, decisive for the future of Europe, it would be one element of the debate for the next presidential campaign. There is no emergency.We have until the summer of 2012 to reform the Constitution. Until then, it happens a lot and the French will have to choose between courage and dangerous demagogy.

What would happen if the text was finally rejected in Congress?

The absence of a qualified majority in Congress, after a positive vote in both chambers, would be a first under the Fifth Republic. The risks of rejection are real in a very sensitive issue, so we know very well that national unity has a lot in the difficult times through Europe and the euro, and also through France.

Jean-Francois Cope continues to ask Borloo to surrender to appear in 2012. Do you think the president of the Radical Party will go anyway?

Borloo belonged to the government of François Fillon for nearly four years.It is in the majority, a personality that counts. He contributed greatly in the ministries which he was responsible. His place is obviously in the campaign alongside Nicolas Sarkozy, not a competitor.

You think he will return to the fold?

I hope with all my heart and, as an intelligent and responsible, I think.

What makes you optimistic for the re-election of Nicolas Sarkozy?

What matters are not the polls, which have often said the opposite of what came out of the polls. The important thing is what has been done and what the French can expect the next five years. The President has taken, in exceptional circumstances, the right decisions at the right time with courage. Nicolas Sarkozy, during his presidency of the European Union or the G20, led the way.It was also the strong man in particularly difficult crises: the economic crisis in 2008, the crisis in Georgia, the Libyan crisis. The French need in a dangerous time, a head of state determined, courageous and experienced.

ALSO READ:

"The UMP Sarkozy pushes Congress to convene

LE FIGARO – The government Wednesday presented a series of measures to reduce the deficit. Austerity, winning all countries, no risk does not reduce growth?

Alain Minc – No, because we are in a new paradigm. The French were the first more concerned with issues of debt through employment. With the power budget, we can rebuild the confidence of economic agents: households are encouraged to thaw out their savings and consumption, business investment. It is manufactured and growth. Submit a budget that would encourage lax instead to save more and thus consume less.The triptych in a world crushed by the weight of the markets is, under budget, trust, growth.

What steps should be taken virtuous?

Personally, I hope a large extent: the 27 EU countries simultaneously increasing their two-point VAT rate. It would be readily absorbed and deficits would be reduced immediately. But it's not for today. Apart from that, we need to focus on controlling government spending. There is still some leeway in this area. But that will not help if we do not address local government spending. It will also examine the non-controlled welfare state, in other words, take action politically and technically difficult to better control health expenditure.This last point requires a long process.

How?

The government is against the wall on its forecast deficit of 4.6% of GDP in 2012, and will do anything to achieve it. But with regard to the defense of the AAA, it was France as a whole is forced to cope. This note is a "national treasure" co-owned by all the French. You need to have well aware that nine months of the presidential elections, the statements of the two main governing parties in France, right and left, are scrutinized by credit rating agencies. The left would be as responsible as the right to lower the note in the coming months if she is economically unsuitable proposals during the campaign.

But the "golden rule" will not be passed.

No, because the Socialist Party opposes it.It is very unfortunate: it is important to give the Constitutional Council the power to censor a budget law does not respect their commitments. The Socialists had better vote to commit to the "golden rule" by requiring counterparties to the government. This would have given them a "chastity belt" in case they win the election.

Are you in favor of a tax on high salaries?

There is a problem obviously symbolic. It is of course legitimate, in the present context, it takes effort – exceptional – the rich. This should take the path of a direct tax levied on high income of around 0.5% above 150,000 euros, rising to 4 or 5% over one million euros for example.But beyond a fiscal contribution, I regret that senior executives have increased their earnings in recent years and today signed manifestos calling for a higher taxation of high income! Their real responsibility is not to engage in excesses of the social contract of their own business. Also, I think we need to align the taxation of capital on that work payday loan lenders. It is not normal for the first shows a gap of 16% with the second (PIT + CSG).

The debt crisis in Europe is cause for concern?

Yes, more worrisome than the upheavals stock as a debt crisis can block overnight access to a State for financial markets and freezing its banking system. However, the ECB has a tool box to avoid it. By the way, we must remember that we are facing a debt crisis, not a euro crisis.I do not know what the crisis of an overvalued currency by 20%, as is the euro against the dollar. Objectively, fears about the financial strength of big countries (Italy, Spain) in the euro area do not make sense.

Yet fears about their health are strong cyclical.

Spasms current will of course impact on growth. Everything will depend on the duration of shocks and jolts coming. This impact could be on the order of 1% of global GDP. That said, we are in a situation radically different from the 2009 recession. You can not compare the balance sheets of banks in September 2008 to today, undoubtedly the best. Three years ago, they were packed with toxic assets.Today, traders are concerned to see them hold treasury Italian! You have to be stupid to believe that the right of a State such as Italy, able to tax a very large domestic savings, are as dangerous as subprime. Italy will never default because if Italy jumps, Germany, which is one of its major suppliers, and jumps as the global economy collapses. This will not take place.

Banks, especially French, you seem so strong enough to weather the storm?

Of course. The markets speculate on Societe Generale, thinking she might suffer from a default of Italy or Spain.But if these two countries are lacking, all banks in the world will fail: it would be blind to believe that a single major bank like Societe Generale, can fall without all its competitors plunge with it! That's why the world will never let down Italy and Spain. By the way, I do not understand the attitude of major European banks, which in times of crisis cut their credit lines to their colleagues believed to be the most fragile. The banks are all connected to each other and should instead show their solidarity.

Rating agencies are they guilty of the current situation?

The big banks and investors are primarily responsible for the weight gained by the three major rating agencies in the world.These financial institutions, for reasons of economy, have removed their analytical services, de facto subcontractor that activity for credit rating agencies. Basically, the only real complaint that can be sent to these agencies is that they do not know the note states – who do not notice as a business. Judge the soundness of a country requires a great culture of the local economic history. For example, the agencies never take into account the weight of the informal economy. But in a country like Italy for example, this economy is from 25 to 30% of GDP, which changes considerably the situation in terms of credit analysis. As the United States, they are the backbone of the global financial system. As such, they are above any notes!

Concerns about debt deemed excessive in the euro area and especially the deterioration of the U.S. debt rating by the rating agency Standard & Poor's have indeed been falling sharply since oil prices last week. Wednesday, a barrel of Brent North Sea still traded at around $ 105 a barrel."Oil has fallen by about $ 10 a barrel for about eight days, conceded earlier this week Jean-Louis Schilansky, president of the French Union of Petroleum Industries (Ufip). Under these conditions, unless crude goes up, there are four to five cents a liter, which is expected to decline "

The magnitude and the time needed to complete the impact of this decline, however, are subject to different interpretations. While Ufip evokes a fall in prices "gradually over the next ten to twelve days," the general delegate of the Union of independent petroleum importers, which includes stations such as Carrefour, Auchan and Casino, for its expected "down from 10 to 15 cents" for these stations retail, "before the end of the week."

The price of a liter of diesel, the fuel most consumed medium currency is 1.335 euros per liter last week, according to the Ministry of Sustainable Development, 1.337 against the euro last week of July.

In the wake of the Asian stock markets, down sharply this morning, the benchmark index in Paris has started his week on a further decline (-0.74%), but avoid the stock market crash feared its markets.After a brief stint in the green, but he digs his losses at midday, yielding 1.53% at midday, to 3228.29 points. Certainly, markets have heard statements of intent to both sides of the Atlantic, the austerity measures to consolidate public finances in industrialized countries. Nevertheless, the nervousness and volatility are the watchwords of the meeting. Evidenced by the yo-yo in the Paris index since the beginning and the very high trading volumes of 3.3 billion euros, three hours after opening.

Yesterday, Angela Merkel and Nicolas Sarkozy reiterated their determination to ensure that the bailout of Greece on 21 July be adopted before the end of September. They also praised the efforts of Spain and especially those of Italy, two weak links in the euro area at present.Indeed, Rome has advanced by one year (from 2014 to 2013) the goal of return to balance its accounts. In addition, the European Central Bank (ECB) said it would implement "active" its buyback program obligations. This measure, taken and announced last week by Jean-Claude Trichet, president of the institution, had absolutely convinced investors. On the contrary …

Relaxation rates in Spain and Italy

This does not seem to be the case this morning. The ECB did not specify to which countries would focus the bond buyback program, but rates in ten years Spanish and Italian relaxed strongly on Monday in the bond market, passing under 6%.Relaxation is expected to continue, while the French Minister of Economy and Finance has confirmed Baroin on Europe 1 that the ECB was ready to buy the Spanish and European debt, if investors withdrew.

Elsewhere in Europe, the trend is more positive than the stock market crash feared by investors. In Frankfurt, the Dax, however, declined 2.24% to 6096.62 points. Less for London where the FTSE 100 lost 1.50% to 5168.33 points. In Madrid, the Ibex 35 index 0.38% wins at noon, at 8704 points. Finally, Milan were down 0.55% to 15,928, 49 points.

Next on the list?

However, uncertainty should remain in force on the European markets at the beginning of the week. The decision of Standard & Poor's in the United States continues to claim haunt the minds of the markets, despite a weekend to "digest" the news.Now that the world's largest economy, long considered one of the most reliable borrowers, is not as well marked, which could consider itself safe from degradation? In France, this concern should be limited, however, the chief economist for Europe, Standard & Poor's Jean-Michel Six, who said Saturday that the agency maintained the "AAA" of France, in a stable outlook payday loan.

Before testing the first effects on the markets of this political mobilization, the announcement of the ECB on repurchase of bonds has already led to support the euro against the dollar. At 7 o'clock this morning, the euro was worth 1.4321 dollars, against 1.4281 dollars on Friday night, after the dollar rose to 1.4370 on Sunday night.But above all concerns macroeconomic benefit to gold, which recorded a new record Monday on the market in Hong Kong, dying for the first time the maximum 1700 dollars an ounce, and benefiting fully from his safe haven status.

The sharp drop in oil

Instead, the side of the oil, oil prices continued to tumble on Monday. Result of numerous concerns about a possible global recession, prices show a sharp decline. In morning trading in Asia, a barrel of "light sweet crude" lost 2.59 dollars to 84.29 dollars, while that of Brent North Sea crude for September delivery fell by 2.48 dollars to 106.89 dollars.

Finally, the political mobilization should remain in force throughout the day, and guide the trend in European markets as U.S.. For the side of the macroeconomic data, the news will remain low in the first day of the week.Unlike last week, no statistics across the Atlantic will not give further details Monday about the health of the U.S. economy or the risk of a possible recession in the country. In France alone were expected business surveys of the Banque de France, unveiled on Monday its growth forecast for the third quarter. For the period, the institution expects an increase of 0.2% of French GDP, the same pace as in the previous quarter.

As for values ​​to follow, business publications are scarce this week.

Battered last week after interim results affected by exposure in Greece, banking stocks offered a nice rally this morning and take the lead increases the Cac 40.BNP Paribas (5.47% to 42.83 euros), followed closely by Credit Agricole (+ 5.01% to 7.51 euros) and Societe Generale (4.83% to 28.76 euros). For its part, Axa wins 3.81%, to 11.99 euros. The entire financial sector benefits from the relief this morning, the insurer CNP Assurances taking his side 3.91%, to 12.37 euros. Outside the CAC 40, ahead of Dexia 5.26% to 1.7 euro.

The manufacturer Archos tablet that will detail its annual accounts after market, has already won 4.77% to 8.35 euros.

Carmat (12.80% to 105.47 euros). The total artificial heart specialist said on Sunday evening the success of its capital increase launched from July 13 to 29. The former subsidiary of EADS has raised 29.3 million euros, which will fund the first clinical trials on humans.

GDF Suez (2.74% to 20.97 euros).The group of energy and services has sealed, according to Les Echos, a strategic Partenaris with the Chinese sovereign wealth fund CIC, which would lead to an acquisition of a 30% interest in the exploration and production arm of French.

ALSO READ:

"The Asian market plunges after degradation of the United States

"Paris and Berlin are mobilizing to fight crisis

Apple has just completed a record quarter with increases of 125% in profit and 82% of its revenues.With a market capitalization of $ 362 billion, the group "at the apple" appears as the second wealthiest company in the world stock market behind Exxon Mobil and its 395 billion market capitalization.

While Republicans and Democrats are torn in several weeks on the issue of debt, U.S. companies their bets. "One reason why companies put so much money aside is that they want to shelter financially cope with financial uncertainties in the U.S.," said Laurie Simon Hodrick, professor at Columbia University . He added: "As long as the threat of default by the U.S. government continues, U.S. companies will have to pay any interest that way." The war chest of U.S. companies is estimated at 1.2 trillion dollars.