World and National News

The U.S. stock markets, should open up on Wednesday. Future of Standard & Poor's 500 and Nasdaq 100 0.60% advance respectively to 1172.20 points and 0.62% to 2178.75 points. Yesterday at the New York Stock Exchange, closed Monday due to Labor Day, the Dow ended down 0.90% after losing more than 2% during the session. The Nasdaq has limited its losses to 0.26%.Investors have hardly shown reassured by the unexpected rise of the main statistics of the day in the U.S., the ISM index of activity in services.

Thanks to the recovery of the Tokyo Stock Exchange (2.01% in closing) investors should start looking for bargains on Wall Street.

Caution should however remain in force until the publication of the Beige Book Federal Reserve, the situation report of the institution, as investors sift through clues to identify the extent of the slowdown in the recovery of world's largest economy.

Another highly anticipated appointment in full uncertainty on the economic front, Barack Obama will tomorrow present to Congress a plan for boosting employment, to just over a year of U.S. presidential.The President shall address the Congress partially dominated by his Republican opponents, while many indicators are orange, fueling fears of a plunged back into recession three years after the bursting of the credit crisis.

The U.S. economy has destroyed so many jobs it has created in August, ending ten consecutive months of net hires, and the country's unemployment rate remained at 9.1%. Amid concerns about the ability of elected U.S. agree on how to reduce their deficits and to fight against a debt approaching 100% of GDP, the rating agency Standard and Poor's (S & P) lowered the note early August of this debt, a bad move for Obama.

The euro was up 0.34% to 1.4055 dollars in late morning.The European currency is notably supported by the decision of the Swiss National Bank (SNB) to set a floor price of 1.20 francs per euro. Oil side, in the early electronic trading, a barrel of "light sweet crude" for delivery in October gained 51 cents to 86.53 dollars per barrel of Brent North Sea crude for October delivery 39 cents to 113.28 dollars .

As for values ​​…

The exchange operator NYSE Euronext in August recorded a rise in trading volumes on the cash market and derivatives, both the U fast payday loan.S. and Europe, a trend reflecting strong market activity this summer. In the U.S., sales rose 38.9% to 3.2 billion shares daily volume.At one month, the volume increased by 60%.

Yahoo! said Tuesday after the close of Wall Street's departure from his CEO, Carol Bartz, thanked months only three years after being chosen to revive a society in decline. The group is now looking for a new boss to find the way of immediate croissance.Dans, Timothy Morse, Chief Financial Officer since July 2009, temporarily taking the reins of the web portal.

All Nippon Airways expects to receive the last of the 55 aircraft ordered 787 Dreamliners from Boeing by 2018, said the president of the largest airline.ANA, which will be the first customer for Boeing to fly the aircraft, will receive the first copy of 787 on Sept. 25 and anticipates delivery of 20 additional Dreamliners by March 2013.

Bank of America, experiencing significant challenges, announced Tuesday a reorganization of its management team with the appointment of two new operational directors, David Darnell and Tom Montag, from the ranks of the bank.

Note also a major shareholder of the Canadian Research in Motion (RIM), maker of BlackBerry smartphones, listed on Wall Street, on Tuesday called the "transformations" major in the group or its sale to tone the decline in value of its title.

The oil company Chevron announced the discovery of oil during a drill in the Gulf of Mexico, offshore Louisiana (southern U.S.).

Altera has announced that it expected a sales growth of 2% -3% in the third quarter, against an increase of 2% to 6% previously due to lower demand.

For his part, Darden Restaurants expects sales growth of 6.5% to 7.5% over the year and an EPS growth of 12%. In addition, the company wants to make stock repurchases for 400 to 500 million dollars this year against 300-400 million previously announced.

The American expert group purchases online Groupon, who announced in June its intention to go public, "reassess the timing" of this operation and has canceled a tour dedicated to the promotion of its future trading, reports the Wall Street Tuesday Journal.

Unlike many leaders of the UMP, Bernard Accoyer does not support a convening of Congress on the golden rule if the vote is not granted.

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.

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Zero growth in France. The economy has not taken off in the second quarter, remaining at 0%, after a rebound of 0.9% over the first three months of the year, according to INSEE. Consumption, traditional engine of the French economy, fell 0.7% after 0.4% in the first quarter.

Business investment continued to support the activity, but less than at the beginning of the year: they slow down to 0 no fax pay day loan.9% after 1.2% previously. In total, business demand and household crippling growth, observed INSEE.

Foreign trade, for once helped save the furniture. But only because imports fell (-0.9%) than exports, remained stable (0%). "Therefore, the trade balance contributed positively to GDP growth (0.3 -0.5 point after point)," notes INSEE.

In Britain, in case of riots, police paying the damages. This is recalled Stuart White, of law firm Reynolds Porter Chamberlain: a law, which has 125 years, in fact, makes the police responsible for damage caused to property during riots, as "fail" in its duty of maintaining order and respect for the law.

In other words, the State will get their hands in their pockets to pay a portion of the bill due to clashes that affect London and other major British cities since Saturday evening. According to the Association of British Insurers (ABI), the invoice amount to several "tens of millions of pounds."Right in the austerity, the new grave evil historic budget cuts designed to reduce the deficit of Britain were launched last June.

However, some police forces insure themselves against damage due to riots. Is considered a "riot" any gathering of more than 12 people gathered "loudly" and whose behavior would any reasonable person to fear injury to his security.

And insurers do they expect to have to deal with a lot of complaints, while shops were burned, vandalized and looted. "It is too early to have a clear idea of ​​the total cost, especially the cost of closing the shops, but insurers are working hard to deal with complaints that reach," said Nick Starling, head of insurance and the health of the ABI, in a statement.Many insurers offer "hotlines" 24/24 and the British are expected to contact their insurance as soon as possible, explaining that for the shop owners, insurance policies often include coverage for losses related to the closure their business or property damage.

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Danone delivers on its promises. Having returned earlier this year with its level of growth before the crisis, the world leader in fresh dairy products remains on course in the second quarter with an increase of 8.8% on a comparable basis. In the first half, its turnover reached 9.7 billion euros (+8.7%) for a net profit of 870 million euros (+3.4%). Allowing Danone to expect a growth of 6% to 8% for the whole of 2011. "All our businesses and geographies have been growing," said Franck Riboud, CEO of the group, half of turnover now comes from emerging countries, including the United States."We are on very strong growth trends, says Pierre-André Terisse, General Manager Finance, which makes us more confident than the rest of the year in a macroeconomic environment that is not simple."

The growth is particularly driven by the dynamic activity of water Danone (Evian, Volvic, Badoit …) which carries a record performance in the second quarter (+18.9%). Good weather in Western Europe and Latin America boosted sales, as well as the increase in demand related to the earthquake in Japan. And, in a general context of price increases related to inflation in the price of plastic payday advance lender.

Complex environment

The group's growth also comes from its activities in infant nutrition (+ 9.6% in the second quarter) and medical (8.7%).As for dairy products, including volume growth (-0.2%) suffered from the impact of the integration of Russian Unimilk, they benefit from the growth of its health brands (Activia, Danacol, Densia …). In Russia, its biggest market now in the side of France, Danone bets on the growing sophistication of use.

If Danone anticipate by a "major change in the trend in consumption" in the second half, the environment should remain complex. Faced with the continued volatility of raw materials, the group has already made half of its savings program of 500 million euros. Increased costs (milk powder, plastic …) is finally on the top of the range of 6% to 9% provided by the group, even though it now tends to stabilize.After price increases from 1% to 2% earlier this year, Danone does not resume using the "price leverage" in the second half if the cost of raw materials had to leave.

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Photo credits: Jessica Rinaldi / Reuters

Henry Parker, winning ticket
The image of France has certainly been worsened by the fiasco of the Blues during the World Cup in South Africa. Not their wallets. For the fourth consecutive year since the retirement of Zinedine Zidane, Thierry Henry leads the ranking of the best paid French sportsmen revealed Saturday by The Mag Team, established in a very precise calculation (salaries, bonuses, advertising contracts …). Substitutions in Barcelona and then exiled to the United States, the former Arsenal player has accumulated 18.3 million euros in revenues for 2010. The withdrawal of premiums for France and the League of Champions (won by Barcelona in 2009) lost him 500,000 euros compared to 2009 (18.8 million).His lucrative contract with the New York Red Bulls (5.6 M) and its many advertising contracts (some of which ended in 2010) nevertheless allow him far enough to relegate her boyfriend Tony Parker, ranking second with a 1.1 million in 2010 (12.2 million). The renegotiation of his contract with the Spurs could allow it to monopolize the top spot next year.

21 of the 23 strikers Knysna in the Top 50, no woman
Sebastien Loeb (5th with 7.3 million) and NBA (Boris Diaw 6th, Joakim Noah 24e) are the only ones to compete with football king, expected to draw lesson from this study. Despite the disaffection of a portion of public opinion related to the fiasco of the World Cup, the number 1 sport in France outclasses all its rivals (salaries, television rights …), by placing 41 players among the 50 best French athletes paid.Note that 21 of the 23 strikers Knysna (missing Carrasso and Planus) appear in the Top 50 neglected by women for the second consecutive year (Aravane Rezai registration at 1 million euros, Sylvain Armand, the 50th, at 2.5 million euros).

Karabatic Lemaitre behind
Targeted among the leaders of the mutiny of South Africa, Franck Ribery climbs on the 3rd step of the podium (10.2 million) through an upgraded contract at Bayern. The absent in South Africa are doing very well as Karim Benzema (4th with 9.3 M) or Patrick Vieira and David Trezeguet (tied 8th) flowing end of a career peaceful and golden (6.5 M) . First representative of France Championship, Yoann Gourcuff is in 10th place (6.1 million), far enough from his runner Claude Makelele (20th with 4.1 million).And light years before Nikola Karabatic (650 000), Jean-Baptiste Grange (300 000), Christophe Lemaitre (260 000) and Jason Lamy-Chappuis (140 000), new heroes of French sport completely incognito. Another world.

The best-paid French sportsmen:
1. Thierry Henry (Football) 18.3 million
2. Tony Parker (basketball) 12.2 M
3. Franck Ribery (football) 10.2 M
4. Karim Benzema (football) 9.3 M
5. Sebastien Loeb (rally) 7.3 M
6. Boris Diaw (basketball) 7.2 M
7. Eric Abidal (football) 6.7 M
8. Patrick Vieira (football) 6.5 M
. David Trezeguet (football) 6.5 M
10. Yoann Gourcuff (football) 6.1 M

If this hand a little in every sense on tax reform – the removal of the shield and the reform of the ISF – "is that we have great ideas. Sunday invited Grand Jury RTL-LCI-Le Figaro ", the Minister of Economy has expressed that he prefers: taxing income from property rather than the stock. But Christine Lagarde outlined above reframed the debate. Because of the ISF, abandoned by most of the neighboring countries of France, "of course he has people who are leaving … We must be stopped to create an illusion that tax." "There is a requirement of fair taxation, fiscal balance and prioritize investment to remain a country of innovation," she insisted.

Alignment with Germany

Therefore, is "we struggle against the excesses of the ISF, or we invent a new tax of Heritage". A conference to be held March 3, "prune a few branches."In other words, the meeting will put some order in the proposals that go all-out on the subject. The next day, the Court of Auditors will report on the Franco-German comparison, "which will work to harmonize with our neighbor, friend and rival."

On the issue of public finances, the Minister of Economy has been very strong guaranteed high risk personal loans. "We need strict discipline to keep the goals of deficit reduction." France has pledged that the deficit reached 6% this year, 4.2% in 2012 and finally 3% in 2013. Recalling that the process of non-replacement of staff on two retiring continued and government spending (excluding interest expense of debt and pensions) were frozen, Christine Lagarde nonetheless argued that "if must take additional steps to meet our commitments, we will! ".While saying he was "no question of a general tax increase."

The minister has in any case more than ever on a 2% growth this year. "I am very firm on my prediction," she said – certainly to the attention of some experts who find this figure too ambitious. Based on the confidence indices in industry and in services, "I am confident that growth in the first quarter 2011 will be significantly higher than the last quarter of 2010 (which did not exceed 0.3%, a figure which had disappointed). Finally, the Minister of the Economy "hopes to below the 4 million unemployed this year."

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Once again, the Fondation Abbé Pierre has sounded the alarm. In the 16th edition of its report on inadequate housing, released Tuesday, it amounted to 8.2 million the number of French people living in poor housing or fragility and precariousness. In detail, these are 3.6 million blind or badly housed and over 5 million in genuine weakness in the short and medium term. Last year it had $ 6.6 million the number of people in fragility.

But this year, the Fondation Abbé Pierre went further: it is estimated that 1.2 million people are in demand for social housing, while 3.4 million are living in fuel poverty and that 1.3 million renters have encountered difficulties in fulfilling their rent.They are at least 10 million people who suffer today, she says, the consequences of the housing crisis.

As the economic crisis, says the Abbé Pierre Foundation, has undoubtedly reinforced the sensitivity of housing to poverty and insecurity. More importantly, it broadened the scope of those who find themselves faced with housing problems. Among the most vulnerable, including the crisis has exacerbated the difficulties, are young, but also single women with children. In these circumstances, the Foundation says, "Relief and accompanying devices were overloaded." And all stakeholders "reflect the difficulties of smaller access to housing and stay there." More importantly, the crisis also tipped in poverty households so far spared.Thus the middle classes are now sometimes hit hard by housing problems. Not only because their work has become increasingly precarious. But also because "changes in income and housing costs create a new zone of fragility and causes an enlargement of facing the problem of public housing." And to continue the situation will not improve, given the evolution of house prices, which it continued to rise, while income does not follow this trend cash advance. While stressing that "a growing inability of housing policy to limit this expansion and to reduce those difficulties."

The gray area of housing

In a context of crisis, are often more vulnerable as a solution but to resort to the so-called "gray zone" of housing (housing with others, squats, shelters …).They are 685,116 to be deprived of personal residence: 133,000 homeless, which must be added 85,000 people living in makeshift dwellings and 411,000 forced to shelter from third parties. The census also revealed that 38,000 people lived in the year in hotel rooms.

Another part of the population, if it occupies a dwelling, suffers from very difficult conditions: they are mainly people in deprivation of comfort – 2.1 million people – or people in housing considered overcrowded so pronounced – 800,000 people.It is considered deprived of comfort, by analogy with the criteria for the law Dalo, homes located in areas unsafe, threatening to fall into disrepair or have at least two faults from the following: inadequate heating and poor insulation, leaks water, electrical non-compliant, lack of sanitation or kitchen.

The problems of poor housing must not forget the growing number of people living on the edge of instability. These include tenants in rent arrears – 1.2 million people – of owner-occupied housing in a condominium in trouble – with a lack of maintenance or unpaid important – or 729,636.Another 3.2 million people live in overcrowded conditions in the broadest sense – less than one part relative to the standard that provides at least a piece for the household, one piece per couple and singles over 19 years, a room for two children if they have the same age or younger than 7 years, if not a room per child.

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Fear and anxiety on the front of the British economy. The gross domestic product (GDP) of the United Kingdom fell by 0.5% over the last three months of 2010, according to preliminary official figures. After robust growth of 0.7% in the third quarter, observers expect average GDP growth of 0.4% in the fourth.

"The third quarter GDP was clearly affected by the extremely bad weather in December," said the Office for National Statistics UK (ONS). "The weather effect" has cost 0.5 percentage point growth in the country, he calculated. "This estimate (…) is the best we can achieve now, but it is still marked by uncertainties," acknowledged the British statisticians. December the coldest of the century has penalized heavily in construction (+0.1%). But these are services that are most leaden growth (-0.4%).Single industry, driven by exports, posted a rise in its activity by 0.9%.

"Hard to believe"

Some are skeptical of the figures as bad. "The ONS calculations imply underlying growth of 0%, after 0.7% the previous quarter. Hard to believe, "critic Brian Hilliard, economist at Societe Generale CIB. "We expect a strong rebound in activity in early 2010, which will also no more representative of the actual situation of the British economy", for reasons of statistical calculations fast cash advance.

Still, the weather does not explain everything. "The fall in GDP suggests that the first measures of austerity and budget cuts the government already beginning to feel their negative effect on growth", Adele Renaux, economist at Natixis.Conservative Prime Minister James Cameron has launched the most severe austerity of the European Union in 2010.

Austerity

The slowdown caused the fourth quarter of 2010 is just the beginning. Rigor hit the economy full in 2011, according to Adele Renaux: VAT in January has increased, taxes were raised, the government spending heavily reduced. Not enough to expect much of the consumption side. For 2011, "the British economy has lost considerable support in public spending," said the economist. Single engine on which the economy can handle the overseas count: exports from the dynamism of emerging countries such as China or Brazil.

In this context, the Bank of England (BoE), keeper of the pound sterling will probably wait before increasing interest rates on hold despite inflation above 3%, and the institute believe Natixis Markit.In early January, the BoE decided to leave its main rate unchanged at 0.5%.