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Secretary of State for Foreign Trade, Anne-Marie Idrac, will announce Friday morning trade figures in 2009. France's 5th largest exporter, has eroded market share at the expense of its competitors.

LE FIGARO .- What is the balance of French foreign trade in 2009?

Anne-Marie IDRAC .- 2009 was a year encouraging, marked by a significant reduction in trade deficit due to the strong decrease of the energy bill free credit report . But beyond that figure, the major point is that France has held its largest export in a context of crisis. The world demand in our country has decreased by 13% by volume, and our exports have declined in this order of magnitude.But this movement has been marked elsewhere and, unlike Germany or Italy, France has managed to retain its market share vis-?-vis OECD countries, accounting for 6.6% exports.

Carried by the first signs of recovery, commodity prices should continue to benefit from a demand effect, according to most analysts. And inevitably, when the recovery point the tip of his nose, the main concern of investors is inflation. Central banks, especially American, will they let it slip that the growth settles? Exactly, materials excellent in coverage against the general rise in prices. Among them gold.

It's the return of the "barbarous relic", to quote the famous phrase of John Maynard Keynes, the famous English economist. In one year, gold has gained 40%, up two times higher than the CAC 40. An increase which reached a peak last December 3, with a historic high: 1.227 dollars per ounce.The successive reductions in interest rates have reduced the cost of money at a level so close to zero as the low profitability of gold goes completely unnoticed. More than a genuine interest – unlike shares or bonds, gold in nothing (hence the term "barbarous relic" – the precious metal benefits mainly three phenomena.

Capitalizing on weak dollar

The first is the weak dollar, including emerging countries, mainly turn away. Asians, including Chinese, even openly criticize the supremacy of the dollar green. Which, incidentally, is a dangerous game for the Middle Kingdom, with about 80% of its foreign exchange reserves are denominated in dollars …. But alongside this, China, like India, strengthening its gold reserves in order to diversify its foreign reserves.Although they constitute just 1.6% of its total reserves of foreign exchange, bullion held in vaults of the central bank, however, correspond to the significant volume of 1054 tons, against 600 in 2003. What sets the Middle Kingdom to the sixth place amongst central banks richest gold, this beautiful place in Switzerland. The increase of 76% of China's foreign exchange reserves in gold vividly confirms the interest that Beijing is to the metal, she, who advocated the abandonment of the gold standard. Importantly, this increase clearly confirms the willingness of China to emerge more than ever a new international currency to replace the dollar ….

Hedging against inflation

Another aspect directly linked to the dollar's decline: the fear of a return of inflation."Now, what are the conditions for ending the recession concern; central banks should be tempted to let slip inflation initially, that the recovery takes hold," says Frederic Lasserre, head of research commodities at Soci?t? G?n?rale. Although there is no question, especially towards the European Central Bank left spinning inflation, the Fed, for its concern for some developed countries deflationary risk. It may well in the second quarter of 2010 up its rates.

Value shelter or bubble?

Finally, to protect against loss of value of their assets, investors seek refuge physically in oil and base metals, but primarily in gold.In a context where some European countries are in trouble (damage to the notes in Greece, under surveillance from that of Spain …), gold saw its role as a refuge against the sovereign risk increased. "In the absence of sustained recovery, the sovereign risk could easily extend to other countries (Greece, Portugal, Italy)," said Francois Chevallier, strategist bank Leonardo. "The famous precious metal is seen as a safe asset, since it can serve as a currency of last resort. The rise of gold is made to last, "says Nicolas Rajna, spokesman of ETF Securities.

His recent relapse of 1110 dollars per ounce should nevertheless encourage investors to remain vigilant. Assets designated as refuge values, like gold, could well turn into a speculative bubble ready to explode at any moment."The rise in gold is a mystery because apparently solitary, said Francois Chevallier. Gold, regarded as a raw material is recovered much faster than oil. He has also climbed more than euro (safe haven against the dollar) and that long rates (safe haven against the indefatigable), and that while risk aversion continued to decline. " The virtues of gold have been recently confirmed by the decision of large countries in the world to mobilize some of the gold reserves of the International Monetary Fund to finance its activities in support of emerging economies. The global financial crisis has led to the resurrection of the barbarous relic. It is certainly less sure she keeps that relationship once the crisis is resolved.

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While MPs this week to discuss the transformation of the company public limited company (now scheduled for 1 March), The Post takes this Thursday its board of directors last year. The estimated results for 2009 and the 2010 budget will be presented. One and one witness to the difficulties experienced by the Post Office. Reportedly, the net income group share estimate was 387 million euros this year, against 529 million in 2008. Operating income is below the targets: he would go below 500 million euros after a profit of 886 million euros in 2008. As for turnover, it is down 2% in one year. In 2008 it was 20.8 billion euros.

All the lights are red while the core business – mail – is severely mistreated. This year, volumes were down 6%. From never-seen.The spread of Internet exchanges is for many. The crisis has exacerbated the problem, mail is closely linked to changes in the gross domestic product (GDP).

"Divided by Three"

Next year does not reserve any good for the mail whose erosion is structural. Jean-Paul Bailly, President of La Poste, acknowledges. In June the group announced it expected a drop in volumes of 30% between 2008 and 2015, an assumption made by most major posts.

In his speech opening the general discussion at the National Assembly, Tuesday, Christian Estrosi, Minister of Industry, was even more pessimistic: "The volume of mail from Post diminish every day," said Minister.There is already – 10%, we will be – or even 50% – 60% in just three years! Again, this is not easy for a postal operator whose business is the heart of e-paper, to cope with the sharp rise of the Internet! "The consequences can be read in the accounts:" The benefits could be divided by three in just two years! "

However, the decline of mail could be offset next year by the growth of other business group, the bank and the package. The 2010 budget, presented on Thursday, would in any case this hypothesis. It builds on strength of sales in a very small increase.

The Post: Besancenot play the spoilers at the Assembly

The change in status of the Post in March rejected

Despite an increase in job seekers during several months, the CEO job Pole Christian Charpy said on LCI television on Monday morning that the number of unemployed would remain "below the 3 million mark registered in Class A". He said that increasing numbers of people from Pole to register job is way slower than earlier this year.

In September, the number of jobseekers who have not worked (Class A) increased by 21,600 at 2,574 million, a surge of 25.1% in one year. By cons, if we add those who have a reduced activity (categories A, B and C), this number stood at 3.745 million (+20.8% yoy) and 3.972 million households in the overseas.Thus, the number of unemployed could exceed 4 million if one takes into account all categories.

From "many months" to return to the situation a year ago

"I hope that from the end of this year the trend will change but it will take many months to return to a situation that had been there even just a year – 1.9 million unemployed cons 2.5 million registered job center today. Indeed the number of unemployed still increasing each month at the rate of "20,000 to 25,000," he said. The figures on the number of job seekers for the period of October will be published Thursday.

This declaration takes place just before surgery, at 11.30 President Nicolas Sarkozy before 1700 agency managers and area job center, the new agency created by the merger of Assedic and ANPE, which is far from keep all its promises. The unions believe the poorly prepared.A counselor supports an average of 94 people (a record) in the direction. Employment center uses private companies to complement the Convention and proposed reclassification Custom (PRC) which has only retrenched, where "there, we guarantee a counselor for 50 to 60 people, according to Christian Charpy.

Nothing seems easier than to hack Facebook. Hackers have thus taken control of nearly 300 community groups on the popular social networking site Facebook, in order to demonstrate how personal data is vulnerable on the Internet.

"Hello, we announce that we have officially turned your Facebook group, said CYI (Control Your Info). This means that we control some of your information on Facebook. If we wanted we could show you a way that could severely damage your image.For example, we could rename your group inappropriately as 'I support pedophilia'.

The aim of the operation is not to harm: "It's just one example that really shows the vulnerabilities of social networking sites," the group said in a message posted on its website controlyour.info, ensuring that his motives were honest and educational purpose.

Facebook groups are places of thematic discussions that followers of the social networking site can join to discuss with other people who share their interests. According CYI, these groups "have a major flaw," because "if the administrator of a group goes, anyone can register as a new director.CYI members say that after having obtained the status of administrator, it is easy to make any changes, including photos or group settings.

CYI has sent messages to groups infiltrated to warn them that they had been "hijacked" and promised to restore their original appearance after being heard on the subject. "Our main objective is to draw attention to issues of privacy on the Internet," indicate these cyber activists. "Some people have even lost their jobs because of content on Facebook. We wanted to do something about this subject, add-t they.

Around 11:30, the title L'Oreal fell by 2.29% to 69.7 euros on the CAC 40, in a market down slightly from 0.20%. The group's quarterly results released yesterday did not surprise investors, who anticipated the return to growth and bought securities they sell now. In addition, Societe Generale has revised down its rating on the stock following its figures from "buying" to "hold" value. Normal in these circumstances, the title of L'Oreal suffer clearances.

The world of cosmetic Thursday reported a turnover of 4.23 billion euros over the period, up 0.8% on a comparable basis."Despite a market that remains difficult, the renewed growth of the cosmetics business in the 3rd quarter was very encouraging and confirms the gradual improvement in sales that we announced," said Jean-Paul Agon, CEO of the group cosmetics. "Each division has improved its performance over the first half," the statement said.

In the nine months of the current year, group sales fall slightly increased by 0.7%, to 13 billion euros (-1.9% on a comparable basis). During a conference call, the chief financial communications Thierry Pr?vot said that L'Oreal has benefited from the dynamism of emerging products, where sales growth "increases quarter after quarter."Sales rose by 18.5% in Asia, but the group continues to record sales declined in Western Europe (-3.5%), in Eastern Europe (-15.3%) or Latin America (-3.8%).

A decline in new listings in unemployment in the United States and the optimistic forecasts of telecoms equipment manufacturer Cisco has propelled the Dow Jones-immediately above the 10,000 points, a day before the report on employment in October the government. The flagship index of the NYSE is 2.08% at 10,006 points and the Nasdaq Composite jumped 2.40% to 2105 points.

New entries in weekly unemployment in the United States declined to 512,000 new applications for benefits, while analysts predicted 522,000. Moreover, the productivity of U.S. companies (excluding agriculture) increased in the third quarter, 9.5% annual rate. It is the largest increase in six years. The market expected a 6.3% increase. These publications, better than expected, reassured investors.

On Wednesday, the Dow Jones gained 0.31% Wednesday, while the Nasdaq Composite lost 0.09%.

Summary of values

Net earnings from Cisco down 15% in first quarter (ended in late October), $ 2.1 billion. The group said however that he thought back to growth of its business to the next quarter.

Qualcomm posted a profit of $ 803 million in the fourth quarter, down 9%.

Microsoft will cut 800 additional positions, plus the 5,000 announced in January. These cuts will take place in the world.

The media group News Corporation has announced a profit in the first quarter of fiscal 2010 of $ 571 million. Earnings per share amounted to 22 cents against 18 cents expected by analysts.

JPMorgan has an agreement with the regulator of financial markets, the SEC, to terminate proceedings in a case of influence peddling to local elected officials in the United States.JPMorgan will pay $ 25 million and 50 million dollars to the local authority, county of Jefferson.

The Iraqi Oil Ministry has awarded Thursday to a consortium led by Exxon Mobil exploitation of oil field west Qourna-1.

Research in Motion announced a buyback program of action for an amount up to $ 1.2 billion. It will start on November 9th and will be valid for a period of twelve months.