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The law is clear: each person can have only one tax-free booklet, A book or booklet blue. But who knows exactly where his grandparents do not stock a book to his name between the sheets of the linen closet? The Observatory of regulated savings admits that part of the 60 million books is linked to "a significant number of cases" of multidétention the booklet by the same investor. This situation existed even before the normalization of the Livret A, but increased with distribution efforts led by banks such as Credit Agricole and Societe Generale. "I have two savings books, but my savings bank refuses to close one that depends on it," says an investor.

The government, aware of the significant risk of slippage, had threatened the special penalty ": a fine on 2% of the outstanding or additional booklets had been provided by the Act of August 4, 2008. At this stage, however, no penalty has been applied, we recognize the Bank of France. To punish, would it still have the ability to distinguish between the intentional fraud and unintentional multidétenteurs No checking account payday advance."The computerization of some later historical networks did not facilitate the long-term management of these booklets, which have long shelf life support equipment," says the report, acknowledging that fiscal controls "remained limited in scope."

A central

Since the reform of the distribution of the Livret A, efforts are being made to remedy this situation. A central recency bank accounts in France, but it is still not an accurate picture of the holders of tax-free books. Each account is opened or a booklet, the banks have the obligation to consult. These planchent services of the State to establish the second half of 2010 an effective due diligence. "The process is complicated to implement, it is done gradually," said a representative of the Observatory of regulated products.Meanwhile, the Ministers of Economy and Budget have written twice to banks to encourage them to ensure the right information to their customers. What encouraged them to regularize their situation.

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The U.S. stock markets have evolved in the green Monday, with a peak at the end of the session. The major indices ended the session by sharp increase: the Dow Jones took 0.97% to 10,525.43 points, the Standard & Poor's 500 and Nasdaq 100 earn them, respectively, 1.12% to 1115.01 points and 1.19% in 2296, 43 points.

Investors have reacted to the publication of figures better than expected property: the new single-home sales in the U.S. rebounded more than expected in June, from 23.6% in May after hitting their lowest level at least since 1963, but remain extremely low, according to official figures released Monday in Washington.

On Friday, the NYSE had ended sharply higher, buoyed by another round of quarterly results from U.S. companies of good quality and were reassured on the results of resistance testing in European banks.The Dow Jones gained 0.99% and the Nasdaq 1.05%. On the whole last week, the Dow Jones gained 3.23% and the Nasdaq rose 4.15%.

On the foreign exchange market, the euro against the dollar adds. At the opening of U.S. markets, it was worth 1.2944 dollars against 1.2906 dollars on Friday night.

Oil prices retreated Monday in the opening exchanges in New York, yielding 86 cents a barrel to 78.12 dollars, while Tropical Storm Bonnie was eventually spared oil facilities in the Gulf of Mexico.

Busy Week Statistics

Another highlight, the U.S. central bank should publish its Beige Book Wednesday on the economic conditions.It will be very guarded while the president of the institution, Ben Bernanke said Wednesday before Congress the slow recovery, with no announcement of new funding in the economy.

On Tuesday, it is the Standard & Poor's / Case Schiller home prices and consumer confidence, which will be followed, before investors only look the next day on orders of durable goods. But it was the day Friday with the first estimate of gross domestic product (GDP) U.S. second quarter to be expected this week.This new burst of publications should be followed especially when investors are questioning again on the strength of the U.S. economic recovery.

Publications wait

U.S. companies are still likely to take stock in their accounts this week, including the program six companies forming part of the Dow Jones online payday advance. Tomorrow investors expect such figures CIT and Lockheed Martin and those sitting in the middle of DuPont.

FedEx rose 5.57% to 83.36 dollars while the group has raised its earnings forecast for the current year. The U.S. giant now aims Messaging earnings per share of between 1.05 and $ 1.25.

Genzyme flies from 7.77% to 65.38 dollars.The group would be the target of several pharmaceutical companies. Sanofi-aventis is about to blow, but Genzyme has rejected its takeover bid by Bloomberg, citing two sources familiar with the matter.

IBM: The European Commission has opened two investigations into the group. It suspects the group of computer abuse of dominant position on the markets for servers. The titles have changed to +0.02% 128.41 dollars.

Always on the side of values, General Electric (2.74% to U.S. $ 16.14) Friday said its increased dividend of 20%, the quarterly dividend from 10 cents to 12 cents. GE also announced a resumption of its share repurchase programs. He had stopped this practice in September 2008. The board gave its approval for an additional $ 11.6 billion."GE hopes to finish the year with $ 25 billion in cash, including proceeds from the sale of a majority stake in its subsidiary NBC Universal to Comcast" say the analysts at Aurel BGC. Some of this money will be used to buy three billion dollars in preferred shares that the group has sold to the holding company Berkshire Hathaway of Warren Buffett in October 2008.

Also note Friday night, the FDIC, the federal agency whose primary responsibility is to guarantee bank deposits, announced the bankruptcy of six new American banks, bringing to 102 the number of closing establishments since the beginning of year.These six failures will cost about 394 million dollars to its compensation fund the FDIC.

Note that the British press suggests a departure from the CEO of BP, before tomorrow, the date of publication of interim results of the oil giant.

Accor train just keeps on getting shorter. Just days after it formally separated from his service branch, and renamed Edenred publicly traded hotel group Accor has formalized its withdrawal on Wednesday its subsidiary Compagnie des Wagons-Lits (CWL).

The project had been discussed in our columns, before being denied by Accor. Its position has obviously changed since then. The group sells for an undisclosed fee, 60% of the catering on board trains CWL Newrest its competitor, based in Toulouse. From January 2013, the French group will assign the remaining 40%, for an amount which depends on the valuation of the company at this time.

Last year, Compagnie des Wagons-Lits has achieved a turnover of 248 million euros and operating profit (EBIT) of EUR 3 million. In late 2009, the CWL has lost a major contract in Spain.The impact on turnover in the first quarter of 2010 represents a shortfall of 40 million euros, says it Accor, stressing that the CWL has instead awarded the contract for the TGV East March 7 last. A year earlier she had lost the tender for the provision of bar cars off the TGV North-East.

Other possible assignments

Present within the Accor Group since 1992, the Company has lost its former glory. Founded in 1872 by Belgian Georges Nagelmackers, who built the first sleeping cars and dining cars before embarking on the Orient Express and the Trans-Siberian railway, it has diversified into the hotel chains with Pullman, Etap- Hotel and Arcade (now in the lap of Accor) and in the service on board trains. The latter is now the only one of the Company.Over the past year, the Pullman Orient Express is indeed operated by the SNCF ….

Newrest, the new owner of Compagnie des Wagons-Lits, himself is present in the food on board aircraft, the catering, the basics of life for the oil industry and mining, VIP lounges at airports .. . Last year, its turnover reached 407 million euros. "This joint venture represents a unique opportunity to expand into the catering market on trains and expand into new countries such as Austria and Italy," says one in Newrest. For Accor, which is defined as the first global hotel operator, "This transaction is part of its policy of focusing on his heart craft." This does not preclude other interruptions.Draft assignment of Sofitel and Motel 6 chains have been mentioned by analysts of the market … and denials by the management of Accor.

Hostile to a widespread tightening, the G20 has accepted this weekend in Toronto fiscal restraint to the map, depending on the country, and spread over time. The countries have agreed to "reduce by at least half the deficit by 2013, and stabilize or reduce the costs of public debt to GDP by 2016, without specifying binding targets to States.

As a result, financial markets, the atmosphere of uncertainty can be expected.

In Paris, while the CAC 40 has lost about 5% in just three sessions of declines marked – and having earned 10.5% in nine sessions of gains on – the hesitation should be on the agenda this Monday morning.Although at 8:20, the CAC 40 futures contracts predict an opening up of about 0.45%, the trend will remain fragile.

The euro was slightly lower at 1.2362 dollar and gold – the same trend – is still treated in 1256 dollars.

A well-attended American Statistical

On Monday, held a ministerial meeting between OPEC and the European Commission.At the ECB, the figures on M3 money supply and credit to the private sector will be announced at 10:00.

For the U.S., followed the very household income and expenditure for the month of June is available at 14:30 just before the opening of Wall Street.

The statistic most watched this week will be the number of applicants for overseas jobs, which will be released Friday, which should mark a break in the trend with further destruction of jobs expected.

The bank fee: disagreements

Priority of Paris and Berlin, the tax credit has received a cold reception in Toronto at the G20.Despite support from Washington and London, the final communique does not mention the tax lip as a legitimate option for banks to charge up the pieces of the crisis.

Popular Banks Savings Banks According to information Wansquare, BPCE Foncia has decided to withdraw from the sale. The preparation of a new law on directors and the rout of Urbania Group took account of the sale of the land.

Casino Jean-Charles Naouri, CEO of the group, delivered the Figaro its strategy to cope with a sluggish consumer in France, however, offset by continued momentum overseas. The boss has no plans to float Cdiscount and will focus more on small and medium format hypermarkets (6 000-8 000 square meters), rather than the hypermarkets.

Trigano will on Monday publish its turnover for the third quarter of fiscal offset.

Belle Sitting in perspective in the Paris Bourse. The CAC 40 wins 1.67% mid-term to 3748.72 points after eight sessions already chained up on. The meeting was lively, as in Asia, by the commitment, made Saturday by the Central Bank of China to move towards a more flexible yuan, the Chinese currency.

An ad for a symbolic opening week of the G20 summit in Toronto and while international pressure, especially American, was always more intense. The consensus, the Chinese currency, also called the renminbi is undervalued by 30%, boosting Chinese exports and increasing the price of imports for other countries.

In Asia, the news is very appreciated, Awards winner around 2%.

In Europe, the enthusiasm is also present.Already in the past week, the CAC 40 rose 3.91%, the index in London gained 2.26%, and about the U.S. markets, the S & P 500 and the Nasdaq rose by 2 , 24% and 3.44%.

On Monday, the London Stock Exchange climbed 1.01% from Friday's close at 5321.30 points. The DAX index of the Frankfurt Stock Exchange climbed 1.33% to 6299.46 points.

The euro continues to rise

This morning, the euro continued to rise. He was quoted on Monday morning around 9:00 1.2456 dollar (+0.5%) while gold has posted a new record high at 1262.55 dollar an ounce.

The increase was boosted in particular by the reassuring speech by Jean-Claude Trichet, president of the ECB. He pointed out the growth prospects of the euro area 1% against 0.8% previously.While the severe degradation of the note in Greece did not impact the morale of the operators.

The European Union has also shown its unity: the European government leaders during a meeting Thursday, June 17 in Brussels, have pledged to tighten fiscal policy to respond firmly to the debt crisis of the states.

In China, the yuan, hit a record high since July 2005. Two days later, the renminbi, another name for the currency, displays a record on the interbank market at 6.8089 against the dollar, reports the agency Dow Jones Newswire.

No statistics major is waiting on Monday morning.The previous week, on the macroeconomic front, investors have noted the rebound in European Industrial production output is + 9.5 in Europe.

EDF: 10% in South Stream (1.49% to 36.33 euros)

The group vowed on Saturday to take a stake of at least 10% in the South Stream gas pipeline through the end of 2010 a decline in participation of the Italian group Eni. The public company has also signed an agreement for cooperation in the nuclear field with the Russian Rosatom public group.

GDF Suez: + 1.57% to 26.25 euros

The company announced on Saturday he came up to 9% stake in the Nord Stream pipeline, which needs to be redirected from the 2011 Russian gas to Europe.The French gas group has also signed a cooperation agreement with Gazprom in the areas of energy efficiency and energy savings.

Alstom: + 2.91% to 42.14 euros

A tripartite agreement was formalized on Saturday between Alstom and TMH its Russian partner railways of Kazakhstan on the provision of 200 freight locomotives to the latter, the French share is estimated at 500 million euros.

France Telecom: -0.32% to 15.35 euros

The telecommunications group has met on Sunday evening in its board of directors to consider a draft agreement with Claude Le Monde Perdriel, CEO of Le Nouvel Observateur, and Spanish media group Prisa, said a spokesman for the 'telecoms.The Chief Executive Stephen Richard had said in an interview published by the Journal du Dimanche that Orange had invest 50 to 60 million euros in Le Monde.

Renault: + 3.13% to 33.92 euros

The manufacturer could work with an American partner if the opportunity presented itself, "said CEO Carlos Ghosn with the Italian newspaper Sole 24 Ore, but said he was not a necessity.

TF1: + 0.28% to 12.36 euros

The FIFA World Cup looks positive for TF1, although the France team was eliminated in the first round of the competition, Le Parisien said the Group CEO Nonce Paolini.Friday, TF1 shares fell 0.84%.

Stallergenes: + 1.85% to 55 euros

The group said to be satisfied with the results of a Phase III clinical study conducted in China for a sublingual immunotherapy (Staloral) for treating asthma to mites.

Eurotunnel (GET): 2.65% + 6.28 EUR

The operator of the Channel Tunnel was given the green light to bid in the privatization of the railway high-speed London-Folkestone, according Wansquare, citing unidentified banking courses.The sale process could be launched today, the Financial Times.

Accor: + 0.14% to 43.89 euros

Standard & Poor's Friday affirmed the credit rating of BBB-group and ended the surveillance period with negative implications opened last September, before the split announcement Edenred of the new entity separate from the hotel services.

Schneider Electric: + 2.28% to 92.14 euros

His finance director has ensured that the group would continue this year to small and medium sized acquisitions in emerging markets.

The banks have apparently not learned the lessons he's passed. While the crisis has raised among investors need for transparency and simplicity in marketing financial products, Madeleine Guidoni, mediator of the MFA, criticizes them in his 2009 report published on May 28 last, having taken their bad habits: those not well enough informed their clients about their content that sells the Fund or market products that are too complex and not meet the expectations of their customers. What about the first five months of the year 2010? "We see no obvious improvement vis-à-vis the general public," she says. The marketing of financial products was the main (67%) claim of investors in 2009, in mediations.This is why at the end of April, a common pole with the supervisory authority was created "to strengthen the control of the marketing of financial products," stated the AMF said in a statement in May last. Called Insurance Savings Bank-Info Service, will come in three forms: a website, a helpline and a mailing address that will be implemented "in the month of June," says one to the AMF.

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The De Beers diamond bet on a shortage of diamonds in the long term. To prolong the life of its mines, therefore he wants to reduce its production. Such a decision could have an immediate impact on prices, with an increase of 5% according to some analysts, De Beers alone representing 40% of sales of rough diamonds throughout the world.

The world provides a stabilization of its production to 40 million carats in the next two years, against 48 million carats in 2008.The predicted shortage should be accelerated by new demand from Asian countries, including China, where these stones are very popular online cash advance.

In twenty years, no site has been discovered that can compete with the mines operated by De Beers in South Africa or that of Alrosa in Russia.

After a difficult 2009 which resulted in losses, the diamond table on profits this year, and until 2014. Some analysts see the move as a preamble to a re-IPO of the group.

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The International Monetary Fund (IMF) Wednesday nudged up its forecast for global growth but said the risks to the recovery, particularly the developed countries' public debt and imbalances in capital flows. In fact, the institution has maintained its growth forecast for the eurozone to 1% in 2010, while stressing the fragility of the recovery against the risk of the Greek budget crisis and its possible contagion effects.

In its "World Economic Outlook, the IMF now expects growth of 4.2% against 3.9% estimated in January. The forecast of +4.3% for 2011 is unchanged. In 2009, world GDP had declined by 0.6%.

"The recovery of the global economy has developed better than expected," said Fund."The activity recovers at different rates, timidly in many advanced countries, but strong in most emerging and developing," he noted.

Growth will be slower in Europe (1% in the euro area, 1.3% in the United Kingdom) and Japan (1.9%). It would be higher in contrast to the United States (3.1%). But it would mainly driven by emerging markets and developing countries (6.3%), the Asia head (8.7%, 10% for China).

In this context, the IMF expressed concern about the impact on capital flows."Estimates of IMF economists show that current account imbalances will increase significantly with the resumption of world trade, improving financial conditions and the stabilization of commodity prices at higher levels," said the institution No fax pay day loan.

"The currencies of a number of Asian economies remain undervalued in significant proportions in the case of the yuan, while the dollar and the euro remained strong over the medium term fundamentals," said the IMF.

In addition, the Fund insisted on another risk to global growth, the swelling public debt of developed countries.

While advising maintain expansionary policies in 2010, he believes that "many of these countries must also take urgent credible medium-term strategies to reduce public debt and then back to more conservative levels ."The risks associated with foreign states may depress the activity for a variety of reasons," noted the IMF.

"The high ratios of debt (relative to GDP, ie) would hinder budgetary flexibility, lead to higher interest rates in the general economy, increase the vulnerability of economies budgetary difficulties, and compressing the growth," he listed.

Finally, the Fund has called on governments to "repair and reform the financial sector, to end the gaps in regulation, and to" support the creation of jobs and the unemployed, the unemployment rate to remain at around 8.5% in developed countries until the end of 2011.

The Paris Bourse should move up slightly on Tuesday in the first exchanges, and save the 4,000 points, just as before. The index futures on CAC 40 rose about 8:20 am from 0.28% to 4010 points.

Monday evening, Wall Street has ended up, preparing to end the quarter and a week shortened because of Easter. And on Tuesday morning, the stock exchanges in the Asia-Pacific move into positive territory.

INSEE published at 8.45am the detailed national accounts for the fourth quarter. Across the Atlantic, all eyes will be on the S & P / Case-Shiller housing price, to be published 15 hours. An hour later, consumer confidence will be unveiled in March.At 18:30, the economic advisor to President Barack Obama, Paul Volcker, will speak at the Peterson Institute.

But the big highlight of the week on the macroeconomic level is expected Friday with the release of monthly statistics of unemployment in the United States.

The Multaq Sanofi recommended in the United Kingdom

Sanofi-Aventis announced on Tuesday that the National Institute for Health and Clinical Excellence (NICE) – the agency charged with developing recommendations on health promotion and prevention and treatment of diseases in England and Wales — just released a new report evaluating the medicine of the future, the Multaq, in which the Institute expressed its intention to recommend the use of this drug for the treatment of patients with atrial fibrillation.

The drug for heart disease from Sanofi-Aventis had been considered "poor" by the Commission on transparency in France, which had sealed the title of the pharmaceutical company.

The TGV Tours-Bordeaux Vinci?

On Tuesday, investors will learn of the happy elect of the draft Tours-Bordeaux TGV. Vinci, Bouygues and Eiffage are on the move. Vinci had a head start.

Pre-market Transdev, whose merger with Veolia Transport should be completed in the second half of 2010 will hold a press conference presenting the results and balance sheet activity in 2009. Wendel and make public its sales and its annual results for the current year.

On Tuesday, will also be held a hearing at the Commercial Court of Paris on Natixis.Minority shareholders, united behind the consultancy Deminor have assigned the bank in early January for "spreading false, misleading or deceptive on the prospects for Natixis in its creation.

After Hours, the annual results 2009 Neopost will be published.

The news was confirmed by a spokesman for Total, following a central works council. The Dunkirk refinery has finally closed its doors Monday. As the oil group had promised the 370 employees keep their jobs by creating a depot, a training center, a technical center and reclassifications.

The logistics depot would employ 15 people, training centers and technical assistance in refining approximately 225. Employees will be offered 80 positions in other refineries, 30 positions in other structures of Total in France and 20 employees will be granted "for early career.

The proposed closure of the Dunkirk refinery is the source of the national strike in late February that poses the threat of a shortage of fuel.The refinery has 370 direct employees and 400 to 450 employees subcontractors.

Total promised to each employee in the establishment of Flanders' work at Total matching skills. Another promise: "no closure or sale" of French refineries will happen within five years.

Substitution project

Before the start of the meeting, Total has confirmed its participation in the construction of an LNG terminal by EDF in the port of Dunkirk. The agreement provides for "an equity Total capital 'of society, Dunkerque LNG, a subsidiary of EDF responsible for the construction of this terminal will terminal.Ce regasification capacity of between 10 and 13 billion cubic meters per year. The decision regarding its actual construction will be taken before the summer and could be put into service in 2014.It remains "conditioned on obtaining all regulatory approvals and the completion of commercial procedures and tenders for construction."

This project would mobilize up to 1,200 people during construction "and could generate" at least fifty direct jobs, which should add about 150 jobs indirectly "in the operating phase out the two groups. The Industry Minister Christian Estrosi had rightly warned that the Dunkirk refinery would reopen if there was "no real alternative project" to maintaining employment.

But this news should not necessarily good news for employees. The CGT and Sud believe that this project is too distant and "inadequate" to compensate for job losses.For 12 hours, the employees of Dunkirk appear before a seat of Total Defense.

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