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Greek in the storm, the galley of the euro features a 18th passenger. It is not a secret, he even want to take orders. The United States is also concerned about a shipwreck in Greece that the Old Continent. They have continued to print their tempo in recent days to force the European crew to recover.

In Luxembourg, held since Sunday in yet another ballet departmental emergency, the American effort has found a leader: John Lipsky, the IMF acting boss since the resignation of Dominique Strauss-Kahn. Monday, early morning, we have even seen take the pen and help correct what would become the final declaration of the Euro, according to several witnesses. Gender confusion? Among the Europeans at least, there is no doubt about the role vested in this native of Iowa, former chief economist at Salomon Brothers and JPMorgan."Lipsky is the U.S. Treasury and defending U.S. interests in Luxembourg, 'says one diplomat. The CEO can afford. Age 62, he announced his retirement before the arrest of DSK.

Under his leadership temporary, the IMF has taken a much more demanding vis-à-vis the financially troubled countries of the European Union. The turning point came during a visit to three with Angela Merkel and Wolfgang Schäuble, on the sidelines of the G8 summit in Deauville, said a European official. Prior to the rescue of countries such as Greece, Ireland and Portugal, the fund was content with a European political commitment. Since then, he stands still as his balls timelines, detailed austerity plans and supports encrypted.This partly explains the surprise decision of the Eurogroup, on Monday, to condition the release of the fifth tranche of the loan to Greece promised a vote by Parliament in Athens, new austerity measures and to a credible plan for privatization.

"Germany, a key country"

There is no mystery no longer on Washington's annoyance at the failure of the seventeen countries to overcome their susceptibilities to seriously address the problem payday loans guaranteed no fax. "Over the past year, the euro will fall into relapse and we see only bandages to stop the bleeding, said a U.S. official. The problem consumes time and energy of the Europeans. The world turns and do not wait. "It is also the best interests of the United States. A weak euro would threaten the sustained U.S. recovery, not to mention a rise in interest rates.More seriously, a European banking meltdown could spread to the other side of the Atlantic, reflecting the collapse of Lehman Brothers in 2008. For the second time in less than a year, Barack Obama is telling the Chancellor that it needs to hand the wallet in favor of Athens. "Germany is the key country," stressed the president.

Christine Lagarde, a candidate for the succession of DSK, is more eager to place the main shareholder of the IMF. On the night of Sunday to Monday, the French minister took it upon herself to keep closely informed Treasury Secretary Timothy Geithner. It was not a "phone G7" as improperly submitted.But a conversation to explain that two vital partner why 17 had once again decided not to decide on Greece.

Appointment is made Sunday, July 3 for a new conclave of the Eurogroup dedicated to the Greek debt. With the cap of the IMF, but also speaking on behalf of Washington, John Lipsky has not concealed his impatience Monday. He commanded the Europeans to "immediately put an end" to their debate on the restructuring of debt and start a new fund to rescue the euro. And he clearly put in danger the balance, "This is to prevent the crisis spreading from the periphery of Europe to the center and from there to the rest of the world."

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"The resistance against privatization is organized

Renault would be in the final stretch to complete the project that should enable it to accelerate in Russia. The manufacturer is about to conclude an agreement to take control of Russian automaker AvtoVAZ, said the Japanese newspaper Nikkei. Under the terms of the negotiations within reach, the newspaper said Nissan would purchase 25% of Avtovaz for nearly a billion dollars. Renault are already owns 25% plus one share of the Russian manufacturer since February 2008, the alliance would then become the majority share of AvtoVAZ, said Japanese business newspaper.

Thus, Carlos Ghosn, CEO of Renault-Nissan has made the rise in the capital of AvtoVAZ a goal of the alliance. In February, he said, hoped that discussions result in the current year.A source familiar with the matter, however, told Reuters that the talks would "probably take several more months."

After the conclusion of the agreement, the alliance would include assembling a compact car in 2012 in a Nissan factory Avtovaz of central Russia, and plans to build another production site in Russian Far East low interest personal loan. The three manufacturers might also produce a very low-cost car for emerging markets at a plant of AvtoVAZ, the newspaper said.

Like China, India or Brazil, Russia is a growing market that focuses the attention of automobile manufacturers: the next few years, four million vehicles could be sold annually in Russia, volume doubled from the current level. Renault aims to capture, with Nissan and AvtoVAZ, 40% of Russian market in 2015.Moreover, the entity Renault-Nissan-AvtoVAZ would be the third largest worldwide, with 7.23 million vehicles sold in 2010, behind Japan's Toyota and General Motors.

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From this Tuesday, June 14, the fish will be on the shelves of foreign origin. In any case, this says a study published by the NGO OCEAN2012 and Nef (new economics foundation). Dubbed "the EU's growing dependence compared with fish from elsewhere," the survey said that from Tuesday, "We go fishing for fish other" because the reserves in the waters of the European Union are exhausted . For the Hexagon, "the date of self-sufficiency in marine products now comes six weeks earlier than in 2000." Without aquaculture, France even become dependent upon May 7

The country is obviously not the only one to get his fish outside EU waters. Further, where the fisheries sector is less developed, starting much earlier. This is the case of Austria, an enclave in the mountains, has to import from January 15, or of Germany (April 27)."It is surprising to note that this is also the case in some Member States with access to substantial EU marine waters, including Portugal (April 26), Italy (April 30), Spain ( May 8), "says the report.

Overall, the rate of self-sufficiency of the French following a downward trend common to all 27 EU countries. The average date on which member countries must import is currently July 2. "Last year was July 9, this indicates a decline of fishery resources in the EU of about 200,000 tons in twelve months," adds the study.

"We play with the future of stocks"

The French situation is, however, made more remarkable by the boom in demand for fish.The French consume twice as effects of seafood (34.2 kilograms per person per year) than the global average (17.1 pounds) according to 2008 figures from FAO and Eurostat, cited by study. The EU average stands at 22.1 pounds. "By eating more fish than the waters of the EU can not produce, we play with the future of fish stocks and communities dependent on fishing. We are risking the jobs and livelihoods, both within the EU and beyond, "says Rupert Crilly, co-author of the report no faxing payday loan.

"Fish stocks are a renewable resource. Yet, according to figures from the European Commission, we draw the fish faster than the stocks are able to rebuild, "says the study.The conclusion is clear: "In the EU, most of overexploited fish stocks is valued and many of them face a high risk of exhaustion."

Reforming the CFP

How then to match the ever increasing demand for and supply of fish within the EU? For the authors of the study, the answer is in the Common Fisheries Policy (CFP). This must be reformed next year for an application to January 1, 2013. To put the stocks in good condition, OCEAN2012 therefore demands a review of access rights to resources for each country. "We should set up an evaluation grid with criteria such as environmental impact on the capture of juveniles, on the release of CO2, illegal catches," said Stephan Beaucher policy adviser for fishing OCEAN2012 and co-author of the study."The criteria are also social because 100 tonnes of fish can provide 15 permanent jobs." Based on this grid, a bonus-malus loaded weight of the fishing rights for the member countries would be established.

While waiting to present his ideas to the European Commission, the NGO has read the first draft of reform. It includes bans on ocean dumping, an objective of maximum sustainable yield by 2015 expected to provide only the surplus fishing stocks and the introduction of individual transferable fishing quotas between countries."We must focus on environmental sustainability but the Commission refuses to make this a priority," says Stephan Beaucher which provides that "power relations are being put in place and it'll be hot."

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The French did not wait to see their incomes grow to consume more. Consumption expenditure of households are divided up in 2010 to 1.3% in volume against a slight increase of 0.1% the previous year. They contributed well to the tune of two thirds of the growth of the French economy last year, even though the purchasing power slowed its progression, according to a study by the INSEE.

Indeed, the rising purchasing power of the French was 0.8% in 2010, against +1.3% in 2009, hit by rising prices driven by oil. The Institute of Statistics shows that even if one deducts the expenditure incurred under a contract renegotiable difficult in the short term (rent, water, gas, electricity, insurance, telecommunications, etc..) Purchasing power individual level falls slightly down.

"The increased consumption for almost all positions," notes INSEE. Clothing costs rebounded 0.4% after falling 4.2% the previous year. After falling 3.5% in 2009, spending at hotels, cafes and restaurants are also lifts, 1.1% by volume. The cost of heating and lighting by volume rose 4.8% and spending on services of the information economy such as telephones or computers rose 4.2%. Conversely, with the end of the scrapping, purchases of new cars fell by 4.9% in 2010 after they jumped 18% in 2009.

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"The French consumption has reached the end of 2010 growth

Wall Street puts an end to four consecutive sessions bearish on Wednesday. The Dow Jones lost 2.23% to 12,290.06 points, the Nasdaq yield 2.33% to 2769.19 points and the S & P 500 was down 2.28% at 1314.55 points.

Tuesday, as all global markets, the U.S. stock market had closed on a sharp rise, the Dow Jones climbed 1.03% and the Nasdaq by 1.37%. Investors, who were returning from a long weekend, had welcomed with relief the press releases stating that Germany would give up a debt restructuring of Greece.

On Wednesday, the new no longer effect. Quite the contrary. Moody's has cooled financial markets that had begun to hope that a solution had been found to stabilize the financial situation in Greece.The rating agency downgraded two notches note saying the country more than 50% the risk of seeing the country fail.

This decision adds to several bad macroeconomic news.United States, the employment figures in the private sector show an increase of only 38,000 in May, according to the firm ADP, while analysts were betting on 170,000 net hires.

Construction spending rose 0.4% in the U.S. in April, according to a Commerce Department estimate released Wednesday in Washington, and contrary to that of analysts who had forecast a decline of this indicator.

Manufacturing activity has slowed markedly in the United States in May, according to the index of purchasing managers released Wednesday by the industry trade association and ISM fell to 53.5%.

Side currency, the euro decreased again against the U.S. dollar after the rating is downgraded from Greece at 1 cash advance loans.4330 dollars (-0.46%).For their part, oil prices fell sharply Wednesday in New York, a barrel of benchmark dropping $ 2.41 to 100.29 dollars in a market undermined by disappointing indicators, especially for job creation States USA.

Yahoo!: -4.26% to 15.85 dollars

Yahoo has resolved its dispute with Alibaba Group in connection with the transfer by the Chinese company's online payment system, Alipay, its chief executive Jack Ma said on source familiar with the matter. The two companies reached an agreement before the meeting with analysts from Yahoo last Wednesday. But the agreement requires the green light from the founder of Softbank, Masayoshi Son, who sits on the board of directors of Alibaba. He was quite reluctant, says one. Japanese Softbank is a shareholder of Alibaba and Yahoo Japan.

Google: -0.65% to 525.60 dollars

Eric Schmidt, the executive chairman and former CEO of Google, said Tuesday night had "planted" on social networks four years ago. He takes the responsibility for the error that allowed Facebook to be the undisputed leader in the category.

Phillips-Van Heusen: 0.58% to 66.35 dollars

Phillips-Van Heusen for its part, announced a net profit of $ 58 million (79 cents per share) in the first quarter of fiscal 2012, against $ 28 million loss (53 cents per share) a year before. The turnover was doubled to 1.37 billion against $ 619 million a year earlier. The group is therefore the goal of annual earnings per share to range between 4.80 and $ 5 per title.

For several months, the G20 and the IMF, but also Europe, Brazil, China, and rating agencies are urging the U.S. to clean up their deficit and debt dementia. Today, the U.S. federal government has the knife to her throat on Monday, the U.S. debt ceiling should touch her – already noted in January – set at 14.294 billion dollars, from which the U.S. can not borrow more.

In other words, the United States are on the verge of bankruptcy. Given the urgency of the situation, the Treasury Secretary Tim Geithner gave a stay of 30 days to allow Congress to reach agreement with the White House. They have until August 2nd to negotiate a compromise, Republicans in Congress will not agree to vote on raising the debt ceiling until the government has not implemented an austerity budget.The United States shackle in effect three years of deficit exceeding 10% and no concrete and credible program of spending cuts are envisaged. Olivier Blanchard, chief economist of the IMF, the savings plan of 39 billion delivered on April 8 is "insufficient".

Barack Obama has set a goal of reducing the U.S. budget deficit of 4000 billion dollars over the next twelve years. It sets the fiscal deficit to 2.5% of GDP in 2015, and wants it to be achieved by three-quarters of declines in spending.Objectives, but no clear way to reach them: during a visit to Facebook, the president spoke reform fiscalité.Sans give too many details, he has to attack the tax breaks for the wealthiest Americans, plans to limit military spending and aid to agriculture, and cutting in the health program, yet very popular Medicare.

"The financial equivalent of a nuclear bomb"

What would happen if the U.S. could no longer meet their debt, as was the case for Greece, Ireland, or Portugal? It would be "the financial equivalent of a nuclear bomb ', warns Aaron Kohli, a specialist in Treasury bills at Nomura Securities. The global cataclysm is such that people do not."They must find a solution, they can not leave the financial world explode," he reassured one analyst, who notes that the financial markets show no signs of concern about the ability of U.S. authorities to agree.

David Wyss, chief economist at ratings agency Standard and Poor's, which recently threatened the U.S. triple-A, not only the Treasury "may continue to operate until August (through accounting manipulations, Ed), leaving the time in Congress to agree, but again, in case of emergency, the government "will pass the debt service as a priority."

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After a session in the green Thursday, the NYSE should end on the last day of the week in the red. After an opening balance, the losses have increased for the Dow Jones was down 0.97% at 12,574 points. The Nasdaq also lost 1.02% to 2834 points while the S & P coward 0.82% to 13,438 points.

Oil heckled

The tensions are still very vivid in the markets for raw materials and oil. The U.S. House of Representatives Thursday passed a bill to increase oil production in the United States to respond to soaring gasoline prices, despite opposition from the Obama administration to new drilling WedFor its part, China has announced to suspend its exports of diesel and severely restrict its exports of refined products to ensure adequate domestic supply and fight against inflation in fuel prices.

Oil prices have also played a roller coaster, unsettling investors. After opening up in New York, a barrel fell sharply in mid-day, the barrel of light sweet crude (WTI) crude for June delivery yielding 84 cents to 98.13 dollars. Finally, the barrel ends up on redemptions of short positions after previously mounted on reports that Libyan leader Muammar Gaddafi had been injured. On the New York Mercantile Exchange, the barrel finished at 99.65 dollars, up 68 cents, or 0.69%, after hovering between 97.09 and 100.70 dollars.

The course followed the evolution of currencies.During the session, the sudden inflation of the dollar made it less attractive dollar-denominated assets such as oil, while the volatility of trade was exacerbated as we approach the weekend. The euro initially lost ground Friday against the dollar after the announcement of accelerated economic growth in the first quarter in the euro area, but eventually succumbed to concerns still living on the Greek budget crisis .

Around 18:30 in Paris, the European single currency was worth 1.4091 dollars against 1.4316 at the opening of U.S. markets and U.S. dollar against 1.4244 on Thursday. Yesterday, she already had fallen in session at 1.4124 dollars, its lowest level since April 1.

Consumer confidence rises

Fluctuating oil prices have pushed into the plan's announcement contained inflation.The consumer prices in the U.S. rose as expected by 0.4% in April compared to March because of rising food prices and gasoline, according to statistics released Friday by the Labor Department.

Moreover, consumer sentiment recorded a rise to 72.4 in May unexpected vision against 69.8 in April, the index of the University of Michigan. Analysts were waiting to 70.

Yahoo! penalized

The side of values, the Nasdaq Composite is sealed by the fall of Title Yahoo (-5.18% to 16.28 dollars) after the Internet portal said Alibaba Group has reorganized the capital structure of Alipay, one of the leading online payment systems in China, without being notified when it is a shareholder of Alipay.

The earthquake in Japan, which has disrupted production car in the Japanese archipelago, has claimed its place as world number one sector to Toyota, doubled in the first quarter and probably for the year by the American General Motors ( 0.06% to 31.44 dollars) and Germany's Volkswagen. Toyota sold 1.79 million vehicles worldwide between January and March, down 12% year on year.Meanwhile, GM sold 2.22 million cars, and returning, at least for this quarter, the world number one spot he had sold to Toyota in 2008.

For his part, Nvidia (-6.65% to U.S. $ 19.14) reported after the close of Wall Street, for the first quarter of 2011 from a profit down 0.2% to 135 million. The gross margin was 50.4%, a record level. Sales reached $ 962 million against 948 million and 1 billion expected a year ago.For specialists Aurel BGC, "the group is clearly affected by the downturn in PC sales and growth opportunities on the shelf is far from certain … For the current quarter, the Group expects a growth of 4 to 6% of its sales. "

SunPower (-0.89% to 21.19 dollars) achieved during the first quarter 2011 revenues of $ 451 million against 347 million last year and a loss of $ 0.02 per share against a BPA from $ 0.13 a year earlier. For the current quarter, SunPower expects a turnover of 500 to 550 million.

CA Inc. (-8.86% to 22.84 dollars), formerly Computer Associates International) in the fourth quarter of financial year 2010/2011 a turnover of 1.13 billion dollars against 1.17 billion expected and earnings per share of $ 0.48 against $ 0.5 expected.About its prospects, the group expects a growth in turnover of 6% to 8% at constant exchange rates for the year 2011/2012, and GAAP EPS in the range of 1.79 to 1.86 dollar. In addition, the Board of Directors approved a quarterly dividend of 0.05 dollars per share and a stock repurchase plan of $ 500 million. Last night, losing the title

Nordstrom (-1.64% to 48.37 dollars) for the first quarter sales of 2.32 billion dollars, in line with expectations, and earnings per share of $ 0.65 against $ 0.67 and expected $ 0.52 last year. The board of directors also voted a share repurchase plan of $ 750 million.

The wave of mergers and acquisitions continues. Yum! Brands (+0.28% to 54.88 dollars) has announced the launch of a tender on the Asian restaurant chain Little Sheep at a price of 6.50 Hong Kong dollars per share.

A month and a half after the start of hostilities, the war in Libya has already cost 50 million euros to France. Gerard Longuet, the defense minister, that figure dropped Tuesday before the Committee on National Defence, says Les Echos.

The invoice missiles fired by fighter planes is around 30 million euros each cruise missile costing nearly a million. We add the operating costs of aircraft: the flight time of a Rafale is estimated at 40,000 euros and time response of the aircraft carrier Charles de Gaulle to 50,000 euros. Premiums paid to military also weigh on the bill, amounting to nearly 10 million.

The war is not over and the cost of operations should increase if the conflict stalled. But whatever the final cost of these unforeseen expenses will be funded.The budget of the Ministry of Defence was counting on 900 million euros for external operations in 2011, an amount identical to that of 2010, with approximately $ 500 million for Afghanistan. Of this amount, 630 million euros have been budgeted and 50 million are expected from the UN, says Les Echos. Thus, 220 million are already short and we must add the cost of expenditures in Libya. Part of the money spent in Libya are at present drawn from the budgets of the military trainings that may not be sufficient, however. Time and budget constraints, the sum could be more difficult to refinance.

To international funding Libyan rebels

The "contact group" on Libya has agreed Thursday on the creation of a mechanism of financial support to insurgents fighting against the regime of Muammar Gaddafi.The special fund will be temporary "operational within the next few weeks," said the head of French diplomacy Alain Juppe, after a group meeting in Rome. "The temporary funding mechanism set in Doha is now well defined" so as to be "operational in the coming weeks," said the French minister told reporters.

After the announcement of the participation of the United States, France "also define" the height of his contributions soon, he added.

The National Transitional Council (CNT) formed by the insurgent wants to be granted loans totaling two to three billion dollars to cover its needs for food and medicines, to ensure essential services in areas it controls and to pay salaries.About 250 million has "already" been collected for humanitarian aid to Libya, said the Italian Foreign Minister Franco Frattini.

This request has so far been examined carefully in the Western embassies, particularly because of legal obstacles that the Rome meeting was intended to circumvent.

The administration formed by the insurgents is far recognized only by France, Italy and Qatar.

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Avoid taking unnecessary risks. This should be the credo of investors on Wednesday at the Paris Bourse. The CAC 40, which strengthened yesterday after eight consecutive sessions progresison, has no clear upward or from Wall Street or the Asian markets. In addition, the program of the day is very busy.

In addition to a series of important industry publication, several statistics are on the agenda. In France, there will be counts of the trade balance in March and the PMI services in April. This indicator is also expected across the eurozone, as retail sales in March. United States, employment is under the spotlight. So what awaited the traditional monthly report Friday, the markets will have an overview of the U.S. labor market from Wednesday with the Challenger study on employment, which will be followed by the ADP report.Next came the ISM services and oil stocks weekly.

Oil markets precisely, prices are still trending down in morning trading. A barrel of light sweet crude for June delivery lost 76 cents to 110.29 dollars while that of Brent North Sea also June delivery yielded 69 cents to 121.76 dollars. Brokers are questioning the declining demand in the United States. On the currency markets, the euro fell slightly to 1.4813 dollar.

BNP Paribas beats consensus

Orpea

The group announced Wednesday an increase of 26.7% of its sales in the first quarter of 2011 due to high occupancy of its homes and its clinics. It confirms its target of a 2011 turnover of at least 1.210 billion for the full year (964.2 million in 2010) and "maintaining profitability remains strong."

BNP Paribas

The group reported results well above expectations for the first quarter. Net income was up 14.6% to 2.6 billion euros over the first three months of the year, revenues rose 1.3% while provisions for bad debts fell by over 30% .

Alstom

The specialist in energy infrastructure and transport on Wednesday released results 2010-2011 in sharp decline, especially because of its activities in energy, and confirmed its targets for this fiscal year cours.Sur ended March 31, Alstom recorded a net profit of 462 million euros (-62%), operating income of 1.570 billion (-12%) and a turnover of 20.923 billion (+6%).

Su expected in publications Wednesday égalment are those of Scor, NicOx, Boursorama, CGG Veritas (first quarter results).M6, Iliad and Gecina unveil their turnover in the first quarter. After market, income Cegedim, and Mr Bricologe SeLoger.com are expected.

Vicat

The group announced on Tuesday a jump in sales in the first quarter thanks to a rebound in its business in Europe, helped by particularly mild weather conditions.

NRJ Group

The group announced Tuesday an increase in advertising revenues in France since the beginning of the second quarter, after posting a jump in sales over the first three months this year thanks to its television division.

Hermes Jean Paul Gaultier officially leaves

Valeo

The U.S. investment fund Pardus has criticized the leadership of Valeo's not doing more to address the valuation gap between the automotive supplier and its competitors.

Hermes

The broker said Tuesday the sale of its 45% stake in Jean Paul Gaultier perfume Catalan group Puig. The sale price of securities and loan repayments will generate a book profit of EUR 30 million in 2011, said the saddler.

Europacorp will present its strategic plan while Air Liquide holds its general meeting at 15 o'clock.

Very symbolic. Having lost its place as number one global telephony to Apple last week, Nokia announced Wednesday the transfer of its Symbian mobile operating system to Accenture.

The first consequence of this partnership is the transition of 3000 employees of Nokia in the computer services company. The Finn gives a boost to abandon its system house for the benefit of Microsoft Windows phone, with which it has signed a partnership. Accenture will also mandated to work on developing Windows phone for Nokia. The group must now act quickly to address the backlog that builds up against its main rivals. For now, the battle is between Apple and the manufacturers who have chosen Android, including Samsung. Nokia and Microsoft are still on the roadside.The Finn has seen its global market share drop from 49% before the launch of iPhone in 2004 to 29% in early 2011. And this while the world market is booming.

The cuts in the number of Nokia do not stop there. Parallel to the outsourcing of Symbian, Nokia has announced the elimination of 4000 jobs by the end of 2012 payday advance. A measure intended to "align its human resources and operational sites with its new strategy," said the group, which now refers to the closure of some sites for research and development.

Repairing the lines

In total, therefore removes Nokia 7000 jobs. A restructuring that is part of his economic plan. Unveiled last week, he aims to cut one billion euros its operating expenses between 2010 and 2013, mainly through restructuring.An improved cost structure is mandatory, while Apple mocks the industry by posting a 50% margin on iPhone. This is ten times more than the operating margin by Nokia in the first quarter.

The group is facing a double challenge: it must develop one or two phones capable of competing with Apple and offer an application store as complete as those from Apple and Android. For now, the specification is far from completed.

However, ads Wednesday reassured exchanges. Nokia has won the title in Helsinki … 3.27% after having lost 25% since February 11, the date of the announcement of its alliance with Microsoft.