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The drachma, lira and other marks will they soon return to their distributors? Among the patrons, many do not want to believe, but the taboo has fallen in recent weeks, the crisis of sovereign debt has indeed reached the heart of the monetary union. "We're not there, and policies must absolutely do everything to avoid it, demonstrates a pattern of CAC 40. But never the uncertainties have been greater, and in the circles of European bosses, the topic is everywhere. "

Within groups – especially multinationals – the challenge now is to consider this assumption is not quite school, building plans for the "case". A subject on which, not surprisingly, more people start to speak outside the euro area and within it. Across the Channel, Constable British banks have their very formally requested to develop crisis plans ad hoc.In New York and London, in turn, several large financial platforms (CLS Bank, ICMA, Thomson Reuters or FXall) that run from bank to bank transactions, including foreign exchange, have informed their customers that they were preparing. For those operators who brew massive amounts of transactions, it is to ensure full and prompt treatment, even if the name change money.

No teletrack payday loans offer customers extreme speed in granting, approving and remitting cash advances to cater for any kind of unforeseen financial crisis.

Released in early 2010, a year and a half of recession caused by the bursting of the housing bubble, Spain could plunge into the red. Supported by the only engine of exports and tourism, the economy will suffer from the international slowdown. And domestic demand – consumption and investment – remains stalled, weighed down by record unemployment. Economists forecast a decline in activity over the next two quarters. For the full 2012, Natixis expects an increase of GDP, limited to 0.2%, even more severe, Bank of America Merrill Lynch expects a fall of 0.7%. Two days before the election, the government had to accept lower growth for 2011 at 0.8% against 1.3%, less than half that expected by Brussels in the euro area.

Occupation: the red lantern of Europe

This is the black point of the Spanish economy fast cash without a hassle.With more than 22% Madrid shows the unemployment rate the highest in the euro area. One in five is unemployed and no improvement is expected in the short to medium term. Affected sectors, construction and real estate have lost more than 1.4 million jobs since 2007, while 700,000 jobs were destroyed in the industry. Are the front line jobs with low qualifications, young people without experience and foreign populations. The long-term unemployment has risen sharply, increasing the risk of dangerously exclusion. This file will be the priority of the next majority. Structural reform, initiated by the Zapatero government, to more flexible labor market, had no positive effect on job creation.

Damaged property market beating down the banks

In 2003, real estate euphoria, he built over 700,000 homes per year.

The Paris market takes a few colors on Friday. In this holiday, where the activity should be reduced, the CAC 40 opened up 0.21% to 3070.33 points. Same trend in Frankfurt the DAX index rose 0.23% to 5881.49 points. In London, the FTSE-100 index key values ​​has opened down slightly from 0.07% to 5541.55 points.

Investor sentiment is supported by advanced this week in the eurozone. Management of public finances in Greece and Italy, two countries that focus on crisis fears of European debt, will change hands. In Greece, Lucas Papademos, former Vice President of the European Central Bank (ECB) has éténommé at the head of a government of national unity. In his first statement, he said that the euro is a "guarantee of monetary stability." The new Greek prime minister should take the oath at noon today.

Doubt continue to settle on Asian financial markets. Investors fear that the referendum in Greece announced Monday by Prime Minister George Papandreou.

After losing 1.70% yesterday, the Tokyo Stock Exchange Wednesday morning unscrewed at the close of 2.21% to 8640.42 points. Same atmosphere on Chinese stock markets: the Hang Seng in Hong Kong lost 0.92% to 19,192.70 points and the CSI 300 Index of Shanghai fell by 0.63% to 2680.49 points. "The Greek opinion is not favorable at the European level that includes austerity measures. Optimism prevailed before the G20 summit has faded, "said Fumiyuki Nakanishi, a broker at SMBC Friend Securities.The euro fell by 0.07% to 107.20 yen and the dollar fell by 0.32% to 78.12 yen.

Oil retreats

Oil prices were down Wednesday in Asia after the announcement of a referendum in Greece that could jeopardize the settlement of the debt crisis in Europe, said the courtiers.Le barrel of "light sweet crude" for delivery in December lost 74 cents to 91.45 dollars in early electronic trading. Barrel of Brent North Sea crude for December delivery gave up 59 cents to 108.95 dollars.

Asian markets see red on Tuesday, like their American and European counterparts. After a brief period of optimism following the European Agreement on the debt control, "the market's attention is focused on implementing the plan, wondering when banks will be recapitalized and if additional funds can be allocated to the European financial stability, "said Kazuhiro Takahashi, broker at Daiwa Securities, quoted by Dow Jones Newswires.

The Tokyo Stock Exchange and ended the session down sharply from 1.70% to 8835.52 points. The broader Topix index has in turn yielded 1.25% to 754.50 points. In Japan, the export sector still suffers from a weak yen against the dollar only after direct intervention from the Japanese government on the foreign exchange market to weaken the outbreak of the currency.On Tuesday, the dollar stood at just above 78 yen and the euro around 108 yen, well below their value on Monday. "We are engaged in a war of nerves" with speculators, said Japanese Finance Minister Jun Azumi at a press conference.

Toyota lost 1.82%, Mitsubishi and Nissan Motor 1.90%. The automotive sector has not benefited from the announcement of an increase of 28.3% of new vehicle sales in October. TDK has, however increased by 3.67%, even after the publication of a net profit, down to $ 56.6 million in the third quarter. Toshiba has gained 1.43% despite announcing a 19% drop in quarterly profits. Other value of the day in Tokyo: Panasonic, which has lost 5.07%.The rating agency Moody's said it may lower the rating of long-term debt of the Japanese electronics giant, because of the poor profitability of its TV and semiconductor and high costs of Restructuring.

Oil down

Moreover, time is also reduced. The Stock Exchange of Hong Kong and Shanghai respectively, losing 1.97% and 0.11%. The Korean Kospi is in equilibrium, an increase of 0.03%, the S & P lost 1.52% Australian and Indian Sensex drops 0.80%. In Sydney, the mining sector was battered in the wake of the raw materials: BHP Billiton lost 2.72% and 2.98% Rio Tinto. Same thing in Hong Kong where Aluminum Corp. 4.38% loose.

Oil prices were down after the announcement of the bankruptcy of U.S. broker MF Global Fund and new fears about the debt crisis in the euro area.

Nothing tempers the optimism of Flemming Morgan, head of the division of Danone Medical Nutrition. Four years have joined the global leader in fresh dairy products, it wants to move up a gear. "We want to accelerate the growth of our business, says Scot, who runs for five years the former business of Numico, which was acquired in 2007. We want to innovate and introduce new segments of medical nutrition in new countries. "

Medical nutrition business is the most misunderstood of Danone, which represents only a third of sales of Activia. In annual growth of 10% in four years is the most profitable activity of the group.One that Franck Riboud, Danone CEO, says she has "tremendous potential mechanical unstoppable" because of the aging world population, the spread of diseases such as diabetes and allergies, or the progression of plagues such as cancer and Alzheimer's disease.

This is a world market for $ 8 billion still focus on Europe and the United States. A new hunting ground for agribusiness payday loan lenders. Danone and Nestle also covet the nutrition branch of Pfizer. "We are halfway between food and pharmaceuticals, says Flemming Morgan, claiming first place in Europe at Abbott and Nestle. We develop our products with a pharmaceutical approach, but they are nevertheless food.This is not about to replace drugs but to provide complementary solutions. "Danone has brought his knowledge of consumer tastes and textures by improving products.

Specific segments

These are not sold in supermarkets but in half pharmacies generally prescribed and reimbursed. Administered orally or by means of a tube or a tube, they are also prescribed in hospitals and nursing homes. Faced with GPs overwhelmed and poorly trained in nutrition, Danone is betting on its relations with researchers or with associations to serve as opinion leaders.

Danone has chosen to focus on specific segments. Neocate Infant with his powder, it offers an alternative to milk for babies allergic to cow's milk.

After his recovery in the day Wall Street takes a break. The Dow Jones falling by 0.25% to 11,549 points and the Nasdaq 0.70% to 2639 points. Investors should indeed play the card of caution before the release, after closing, the beige book of the U.S. central bank. This snapshot report on the health of the U.S. economy is still highly anticipated by the markets.

Meanwhile investors remain focused on company results and the problems of sovereign debt in Europe. After the warning on the sovereign rating of France, Moody's downgraded by two notches on Tuesday night the note of Spain. This goes from A1 to Aa2 with negative outlook. The rating agency believes that the country remains vulnerable to difficulties in credit markets.In addition, Moody's does not exclude a further reduction if the crisis worsens in the euro area.

Paris and Berlin would be willing to strengthen the stability fund

Rumors press reported an agreement between France and Germany to increase the capacity of European Financial Stability Fund (EFSF) to 2000 billion. But European officials have denied the existence of a formal agreement. This issue should be at the heart of the EU summit on Sunday. Yesterday, however, German Chancellor Angela Merkel reiterated that the top of Sunday should be an "important step" but that the crisis can not be resolved "in a single peak."

At the macroeconomic level, housing starts in the U.S. rebounded strongly in September (15%), driven by the community housing sector, according to figures released Wednesday in Washington by the Department of Commerce.The consumer prices increased in September (0.3%) for the third consecutive month, continuing to erode the purchasing power of households. Investors will also monitor the weekly report on Wednesday oil stocks.

On the foreign exchange market, the European currency climbed to 0.60% in mid-session 1.3825 dollars against 1.3752 dollars late Tuesday.Oil, however, is more mixed.

The barrel of "light sweet crude" for November delivery lost four hundred, to 88.30 dollars a barrel while Brent North Sea crude for December delivery was appreciating by 13 cents to 111.28 dollars.

Mixed results

• Morgan Stanley (2.77% to 17.09 dollars)

The bank on Wednesday reported a profit of $ 2.2 billion in the third quarter against a loss a year earlier, along with a sales increase, both worn by an accounting adjustment.

• AMR (-7.80% to 2.60 dollars)

The parent of the airline American Airlines, announced Wednesday a net loss of $ 162 million for the third quarter, stronger than expected, partly attributed to rising fuel prices no fax payday advances.

• United Technologies (-0.39% to 73.83 dollars)

Technology Group has announced a 10.5% increase in profit to 1.32 billion in the third quarter and raised its forecast for annual results.

• Abbott Laboratories (4.50% to 54.80 dollars)

The health group will split into two listed companies, one centered on the biotechnology and pharmaceutical drugs, the other on medical devices, diagnostics, nutritional supplements and generic drugs, announced the laboratory management.

After the close of Wall Street, Tuesday, several big names from the coast, including three technology giants Apple, Intel and Yahoo! have announced their quarterly results.

• Apple (-5.17% to 400.41 dollars)

The company issued a apple annual net profit up 85% to 25.22 billion dollars but less than market expectations, with a fourth quarter hit by the slowdown in sales of iPhones. The turnover stood at $ 28.3 billion against $ 29.6 billion expected. The firm at the apple has sold 17 million iPhones during the quarter (as against 20 million expected), 4.89 million Mac computers (4.4 million expected) and 11.12 million iPads. For the current quarter, the group of Cupertino expects earnings per share of 9.3 dollars against 9.02 dollars estimated by analysts.

• Intel (4.40% to 24.43 dollars)

Micoprocesseurs a giant in the third quarter against a BPAD $ 0.65 $ 0.61 expected and $ 0.52 last year.The turnover stood at 14.23 billion against $ 13.87 billion a year earlier. The group also increased the amount of its share repurchase program to $ 10 billion.

• Yahoo! (4.46% to 16.16 dollars)

The engine iinternet published for the third quarter EPS of $ 0.21 against $ 0.17 expected. The revenue excluding traffic acquisition costs amounted to $ 1.07 billion, as expected. For the current quarter, the company expects a turnover of 1.13 billion dollars against 1.24 billion expected by analysts.

• Cree (-8.17% to 25.52 dollars) has reported a turnover of 269 million dollars in the first quarter of 2011/2012, stable over one year. Net income fell 58% to 28 million.For the current quarter, Cree expects a net profit of 29-33 million.

• CSX (1.63% to 21.05 dollars)

The group of small electrical equipment achieved a turnover up 11% to $ 2.96 billion. Net income was $ 464 million against $ 414 million a year earlier.

After the close American Express and eBay announce their figures.

As his term ends at the head of the European Central Bank (ECB) October 31, it is not a Jean-Claude Trichet to lecture who spoke Sunday at the Grand Rendez-Vous on Europe 1 / Le Parisien-Aujourd'hui en France / i> Télé, to discuss the crisis at the moment Europe.

With his experience of eight years at the head of the institution, who was also governor of the Banque de France, has recommended that Europeans hear the messages addressed to them. His advice? First, be "extra vigilant" with regard to public finances. Rejecting the idea that the euro area and its currency are "threatened" by the crisis, it nevertheless stated that "all countries without exception must be extremely careful." "Protect yourself rather than cure," he summarized, adding that "it depends on us that we can have the least slower growth."

Then you have to "think about the future," stressed the President of the ECB. "Tomorrow, I think we need to change the treaty to be able to prevent a member of the euro area to roam and create problems for everyone else," he said, referring to the Greek crisis that Europe in a hard to control. He called for a reform that would make the European Council "able to impose decisions" in a country slide, with "possible sanctions".

It includes some of the "outraged"

"We must strengthen the management and governance of globalization in all fields," he also said in reacting to the movement of indignation that spreads in several major cities."There are obviously a number of lessons from the crisis that the lessons are harsh: it is not possible to leave a financial system and consequently a global economic system that is as fragile." This does not mean "demolish" the banks, he insisted, recalling that "pay three-quarters of the economy."

That he referred to as de-globalization theme is in vogue right now, as advocated by the Socialist-Arnaud Montebourg, and one can imagine Jean-Claude Trichet tense in his chair … and find that it is a call to strengthening of global economic governance.

Second failure in two days for users of BlackBerry. Just hours after suffering a first stop on its servers Monday, the Canadian was again faced with a similar problem yesterday. Virtually all countries are affected. Consequence: the sending or receiving mail on BlackBerry were disrupted and access to the Internet. The explanations provided by the group are at least succinct: "We are working to restore service and apologize for the inconvenience." The breakdown would originate from a server malfunctions in Europe, according to sources.

These blackouts are more embarrassing for BlackBerry, which had the reliability of its services is signed. Aimed primarily at business users, the brand can not afford such failures.Especially since it is increasingly challenged, including the professional market, including smartphones from Apple and Samsung faxless cash advance.

Rumors of sale to Vodafone and Microsoft

In addition, these incidents are still undermining the leadership of the group which faces a shareholder revolt led by investment funds. They call for a change of management or the sale of the company. Since the beginning of the week, rumors have multiplied. The Wall Street Journal referred to a sale of the Vodafone brand. Others imagine a takeover by Microsoft, but it already has a partnership with Nokia.

These rumors have helped support the stock price. On Wall Street, on Tuesday, shortly after 20 hours (French time), the action Research in Motion (the maker of BlackBerry) was the same upward trend, gaining 3.63% to 24.07 dollars.

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Future of Standard & Poor's 500 and Nasdaq 100 reported a slightly higher opening of U.S. stock markets. The New York Stock Exchange finished down Friday evening after lowering the rating agency Fitch notes from Spain and Italy.

The volumes are likely to be particularly low on Wall Street today because of Columbus Day (which commemorates the discovery of America by Christopher Columbus), holiday in the United States although the U.S. stock markets are open. Only the bond markets will be closed today

The willingness of the Franco-German recapitalize banks and out of the spiral of debt crisis and Europe, however, should boost the morale of investors.Nicolas Sarkozy and Angela Merkel, meeting in Berlin on Sunday pledged to respond "lasting and comprehensive peace" to the crisis in the euro area for the G20 summit in Cannes, 3 and 4 November. Proposals must be made but no details were supplied. "You will see the end of an entire fully functional," promised the Chancellor. The fate of Greece is suspended from his verdict of the Troika, reminded the two leaders. About the difficulties the European banking sector, the two leaders said they were "determined to do whatever it takes to ensure the recapitalization of our banks." The French president also assured that the agreement between the two countries on how and where the process was considered "complete", denying the reports of differences over the use of EFSF to provide the necessary funds.Again, the "details" will be specified later, they promised, even suggesting an EU summit scheduled for October 17 and 18 and a Eurogroup.

Note also in Europe, the Board of Directors of Dexia has validated the night from Sunday to Monday the takeover of its Belgian subsidiary by the Belgian government for a $ 4 billion. The Franco-Belgian bank, the first victim of the debt crisis in the euro area, is found then dismantled and nationalized the Belgian branch guaranteed high risk personal loans.

Opening of the ball results

United States, the season of quarterly results of large companies to begin this week. As usual the aluminum giant Alcoa will kick off these publications. Follow in particular, PepsiCo Wednesday, Thursday, JPMorgan Chase and internet group Google and finally, Friday, Mattel.Analysts bet on an average increase of 13% earnings per share for the third quarter. "The forecast for the quarter just ended are very conservative so there are chances that companies do at least as well as the consensus", say experts Cantor Fitzgerald.

On the macroeconomic front there is no major indicator on the agenda of U.S. investors on Monday. In the coming days, they expect including the minutes of the last meeting of the Federal Reserve (Tuesday) and retail sales (Friday). Specialists Aurel BGC, household spending should be slightly more dynamic in September. The slowdown in inflation for the effect should have increased the purchasing power of households.The latest U.S. statistics have also been rather better than expected, which has banished the specter of a return to recession in the United States and contributed to the rebound on Wall Street last week.

New clean cuts at Goldman Sachs

The side of values, according to the Sunday Telegraph, the investment bank Goldman Sachs could make additional cuts.

For its part, the global distribution of Wal-Mart announced that 12 brands of the brand were closed in Chongqing in China for 15 days, following a fraudulent labeling.

At the same rumors about Yahoo! continue. After the assumption of a takeover by Microsoft or by the Chinese partner of Motor internet, according to Reuters Jerry Yang, co-founder of the company could partner with a private equity investment to buy the company.