World News, Financial News, Breaking US News

For the eighth consecutive time, the Paris Stock Exchange closed in the red. On Wednesday, the CAC 40 ended down sharply again: 1.93% to 3454.94 points. On only five days, the index lost nearly 8%. The Cac 40 was, however, limited its losses slightly in mid-session, down 0.40% to 3508.71 points. But it was not including the publication of reassuring indicator bit in the U.S..

On other European financial centers in London, the FTSE-100 ended down 2.34% to 5718.14 points, featuring Dax index of the Frankfurt Stock Exchange lost 2.30% to 6640.59 Wednesday points. South exchanges, which had made a catch at mid-day, did not resist.The index featured the Milan Stock Exchange, the FTSE Eb, closed on a decline of 1.54% to 17,006 points and lindice Ibex-35 main values ​​of the Madrid Stock Exchange ended down 0.85% at 9037 , 7 points.

Italy and Spain under pressure

The European sovereign debt and U.S. continue to weigh heavily on the trend. Yield spreads between bonds to ten years Spanish and Italian over German bonds widen. They stood at 402 basis points respectively (13 bps) and 386 basis points (12 bps). Italy and Spain are again under pressure from the markets fear a contagion of debt. Their governments are mobilizing to stem the panic even if Brussels has ruled out any discussion of a bailout for those countries.The Italian Finance Minister Giulio Tremonti and the leader of the euro zone, Jean-Claude Juncker, today concluded their discussion by considering that the reflection on the debt crisis was to continue "calmly." For its part, the Spanish Prime Minister Jose Luis Zapatero on Wednesday convened a meeting on "market movements".

China increasingly perplexed vis-à-vis the dollar

Investors also remain worried about the strength of U.S. growth. And, although the Senate has ratified Tuesday the plan to raise the debt ceiling. Insufficient agreement by Moody's which could lower the rating of the country. The closing down sharply on Wall Street Tuesday night also confirms the markets in their choice to continue to withdraw.

China, for its part welcomed the adoption of very hard this plan.Beijing said it would continue to limit its dependence on the dollar, whereas the U.S. has failed to defuse "the bomb of debt." The rating agency Dagong China in the wake downgraded American. Wednesday morning, Asian stock markets, with the exception of Shanghai, changing all down sharply.

Still bad news in the U.S.

On the macroeconomic front, the growth of activity in the services sector continued to slow in July to register their slowest pace since March 2010.The PMI index reached 54.2 against 56.1 in June.

The same goes for the euro area and for Germany: the composite index stood at 52.5 against 56.3 respectively in June and 51.1 against 53.3 in June.

For the euro area, retail sales rebounded 0.9% in June compared to May, where they had fallen by 1.3%, said Wednesday the EU statistics office Eurostat. Eurostat revised down its initial estimate for the month of May, initially announced at 1.1%.

United States, at 14.15, the consulting firm HR ADP unveiled its traditional and highly anticipated monthly report on employment. Higher than the 100,000 new jobs expected by analysts, job creation in the U.S. private sector employment reached 114,000 in July.

In contrast, growth in the services sector in the United States recorded a surprise slowdown in July, according to the index of purchasing managers released Wednesday by the Institute for Supply Management (ISM) payday loan. ISM non-manufacturing index stood at 52.7 last month, falling to its lowest level since February 2010, after 53.3 in June. Analysts on average expected a 53.6 index.

Orders for the industry fell 0.8% in June in the United States, driven down by gloom in the transport sector, said Wednesday the Commerce Department. Economists on average had expected a decline a little less strong, 0.7%. Orders were up 0.6% in May

Both have overshadowed the latest news on employment, including Wall Street, where markets remain frozen in red.

Bic flies, Societe Generale sinks

Societe Generale: -8.97% to 29.59 euros (red lantern CAC)

The bank chaired by Frédéric Oudéa posted net income down 31% to 747 million because of writedowns on loans Greek past. Greece forced Societe Generale has given up its goal of net profit of 6 billion euros in 2012.

Crédit Agricole: -6.57% to 7.47 euros

The bank said it had sold its commercial finance Eurofactor in Britain to GE Capital.

Overall, the whole banking sector has suffered: Natixis lost 3.15% to 2.92 euros, 2.98% to loose Axa 12.03 euros and BNP Paribas gives up 1.87% to 41.80 euros.

Air France-KLM: -3.21% to 7.57 euros

The airline plans to delays or cancellations of flights, from Paris, following a strike by technicians responsible for maintenance of its aircraft.

Total: -1.77% to 36.15 euros

The oil company and its CEO Christophe de Margerie were returned to correctional late July for "active corruption" in the investigation into the UN program "Oil against food" in Saddam Hussein's Iraq from 1996 to 2003 officials said a judicial source.

Danone: -0.37% to 49.32 euros

The dairy group has unveiled a proposed acquisition of 250 million euros in nutrition in India to expand into the Indian markets for infant nutrition and medical purposes.

Suez Environnement: 0.68% to 12.67 euros (largest increase in the ACC)

The group specializes in water management and waste released on Wednesday a net profit down 43% to 221 million euros in the first half. Suez Environnement, however, reaffirmed its financial targets for 2011-2013.

Bic: 3.61% to 63.72 euros (largest increase in the SBF 120)

Bic raised its growth target for the division of pens, lighters and disposable razors, to "greater than 5%" against up to 5%.Instead, the group anticipates a decline of about 10% growth for its advertising and promotional products division against 5% previously.

Hermes: -3.39% to 235.35 euros

The Association for the Defence of Minority Shareholders (Adam) wonders why the saddle spends as much to buy back its own shares, whose price has reached a new record this week, said Tuesday its president Colette Neuville.

Renault: -3.20% to 34.23 euros, Peugeot: -1.98% to 23.79 euros

American manufacturers have announced their sales figures on Tuesday night.Chrysler reported a 20% increase in sales of new cars in the U.S. in July, while Ford saw its own increase by 9%.

Accor: -2.03% to 28.23 euros

Accor announced the signing of the sale of catering group Lenôtre Sodexo following the favorable opinion of the works councils of both groups.

After-hours trading, Vilmorin and Cegedim should publish their annual turnover for the first and second quarters respectively.

LE FIGARO. – How do you solve the structural problem of Fnac, the erosion of its major markets?

Alexandre Bompard. – With the offensive Wednesday unveiled, we want to build a new Fnac looking to the future and whose identity will be based on three strong pillars. The first is the extension of our current product offering. Today, our offer is concentrated around the cultural and digital entertainment. With this plan, we will extend it to other types of activities: those aimed at children and families first, and in the future than in the discovery of the escape or the home and interactive design. The second line requires a paradigm shift for a brand that was built around its product: it aims to put customers at the center of our business and our business, emphasizing the relationship at any time with them.Of these, we will finally pay special attention to customer expectations family: it is the third pillar.

How will decline precisely this strategic plan?

To pass this plan, we will implement a number of levers. With the new consumption patterns, our stores will no longer be organized by product, but by world usage. For music, for example, you will find the same space CD, MP3 players, but also hats, concert tickets … well, we will create a world dedicated to children under 12 years with not only a comprehensive range of books to products edutainment and advanced technology, but also animations and dedicated services. More generally, however, the development of personalized services is a priority.We will innovate in this area soon, especially with takeover bids and the subscription of technical products.

This plan does not sign then the end of your physical network?

On the contrary! To be closer to customers in two French Fnac does not close to home, we take two major initiatives. By 2015, thirty stores will be open as well, on the outskirts of large cities in particular. Furthermore, after signing a partnership with Lagardère Services establish ourselves in stations and airports (the sign will replace the Virgin next week, Ed), we will launch a new store format: fifty Fnac proximity, about 300 square meters, should be released in four years, first in clean and free.These small signs, offering all the universe Fnac, will complement the department stores and will allow us to install in smaller cities. Of course, this is also associated with an increased fnac.com, because customers prefer the greater integration of the two sales channels. With our power in store as on the Internet, we will deploy a multi-channel strategy so successful and will offer such customers to withdraw all their in-store purchases made online or ordering of kiosks in stores.

You mention the date of 2015. Can you elaborate on the timing of this plan?

Speed ​​of execution of this plan is a key to its success. The first initiatives will therefore emerge in the next few months. Openings and reorganization of our stores are involved, they mainly in 2012 and 2013.The mobilization of our people, aware of the need for change, will also be one of the key elements of enforcement. I hope that the implementation of this plan is a lever to renew the social dialogue.

What budget has been earmarked to ensure the success of this plan?

I do not want to give numbers. The planned investments are suitable for our ambitions as we can. It is both a plan of conquest and a realistic plan. Therefore, we will continue to identify what we need to do it alone and that we can do through partnerships, both strategic in nature, as with Lagardère Services, or Screenrush SFR, or commercial, as with Apple, which a dedicated space in stores.

When do you expect to see the first results of this new strategy?

The first effects will be felt in the second half of 2012.Our aim is then to find a sustainable and profitable growth in France and abroad.

The sale by PPR of Fnac it not only jeopardizes the implementation of this plan?

My mission is to ensure the economic development of the Fnac. Since 1994, the PPR Group has played a leading role in particular for the implementation of the Fnac outside France and its growth on the Internet. As it does for all its businesses, the PPR group will manage the Fnac as if it had intended to remain within the group. Proof: This strategic plan is not a buildup of short-term, but a plan of conquest.

ALSO READ:

"Fnac Allociné and engage in e-cinema ticket

"Fnac says its rays telephony SFR

"The brands target the customer in the street and on the Internet

Marc-Olivier Fogiel left mid-February morning of the orders of a Europe that was in September 2008. At 42, he will find at the back of the antenna M6 where he had led the program "everyone to stop you sleeping."

The FIGARO. -You will return to television with a project to M6. What will this new appointment in September?

Marc-Olivier Fogiel – It will be a weekly news magazine providing an update on current events that marked the week with those who make it. If I had to make a comparison, I would say it resembles the concept of the Sunday Journal, a daily newspaper published once a week and often the event. M6 has already emblematic of news magazines and reports of investigation, we want a news program, interviews with no frills and away from the talk-show atmosphere.It will be the opposite of an issue since zapping will be based on in-depth interviews. Thus there will be no more than three guests. They will live on the channel just as was the case for "7 of 7" or "The moment of truth." Moreover, this one-hour program on Sunday at noon.

On this market, competition from other channels is tough …

It is tough but not insurmountable. Of course, we have to create an appointment for a check and content that do not exist today on M6. But if there was no issue, it would not be worth the trouble to launch this new program.To me being able to meet weekly casting and the best to become the M6, like other chains, a place where those with expressed wish in the news.

When you leave the morning of a Europe in February, many gave you leaving for the public service?

He never discussed or near or far no faxing pay day loans. The only contacts I have had were with the news channels free DTT. To redo the TV, it was essential that it be consistent with what I have begun in recent years and therefore in the wake of the info. I admit that it was not easy to match a weekly basis with the passion of the "hard news". What was more, was returning to M6.When I left three years ago, there was a tacit agreement with this system, I've known for twenty years, talk with their leaders if I wanted to remake the TV.

On the occasion of this new project, you again become producer?

Not at all. When I came to Europe 1, I closed my news agencies and production Paf Paf Press and Prod. It seemed important to enroll in the drafting of the radio, as it is clear to me now to work with that of M6. For me the best way to participate in writing the History Channel and be somewhat in the same "juice" that the teams in place.

However, give yourself projects that you started with Matthew Pigasse?

Instead, we move forward. At that time, I become entrepreneur! But at this point we're still thinking.A reflection not only conducted but also Pigasse Matthew David Kessler, who directs Les Inrockuptibles. I stay in the same vein, that of the info. The idea is to propose a new offer but this time on digital. We would like to launch in 2012. If we had originally planned to create a newspaper on the shelves, now we want to expand our project to all digital. We're a team and especially to think about the business model.

ALSO READ:

"Fogiel why I left Europe a

The Alibaba China could become a major player in the field of operating systems for mobile phones just as Android, IOS, or WP7. In fact, according to the Wall Street Journal, the Chinese e-commerce specialist, prepares to launch its own operating system (OS). But this new system has a particularity: it is based on the cloud, literally the "cloud computing". In other words, this new system will store the user data on remote servers. Such OS therefore requires a connection to broadband Internet in all circumstances.

This project should be launched in the third quarter of this year, said the American daily. Initially, the system should be accessible only to the Chinese market but "nothing says it will not be used elsewhere after," said a source familiar with the journal.

This launch marks another milestone for Alibaba, more used to make software and especially shopping sites online no fax cash loans. Like him, more and more companies are trying to afford the lion's share in the growth market of smartphones. Another Chinese, Baidu, Google's competitor frontal China would launch its own OS for the Chinese market, based on the technology of Google Android. If these Chinese projects are completed, Apple, with its own system IOS, Microsoft Windows 7 Phone and Google, which has the Android operating system, could see their global market dominance eroded.

ALSO READ:

"Nokia will launch its first Windows phone in the fall

"Android-enabled mobile 500 000 days

"The French flock to Android smartphone

"The difference between the iPhone and Android tightens in France

The U.S. Federal Trade Commission is preparing to open an antitrust investigation of Google, said the Wall Street Journal last night. According to the daily U.S. economy, sending requests for information would be imminent. A committee of five people in the U.S. federal agency seeks to determine whether Google has abused its dominant position in the Web, particularly in the context of its advertising activities. They represent 97% of its turnover.

So far, the U.S. competition had not addressed the situation as Google through various acquisitions, such as the acquisition of DoubleClick Internet governance, governance AdMob mobile or, recently, the specialist ITA Tourism Online. The investigation by the FTC in addition to the one that opened in November the European Commission.Google is particularly suspected of promoting its own services in search results.

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.

ALSO READ:

"What Renault is preparing for its strategic plan

"AvtoVaz must remain 'leader' in Russia

Good student, but must continue its efforts. It is, in short, the message delivered by the rating agency Fitch in France. She confirmed the debt rating "AAA", the best possible, with stable outlook. The French government has taken "a series of measures", says the agency, "which have improved the outlook for public finances." And mention the pension reform, or the draft law in fixing the principle of balance of public finances.

"However, these efforts must be extended to stabilize and then reduce the level of debt of France, which was the end of 2010 to 81.7% of gross domestic product (GDP)," warns Maria Malas-Mroueh, responsible scoring countries at Fitch. A number of risk still hovers in effect on the financial health of the state. Starting with 2012, a major election year.It should not, Fitch warns that the budget skids on the bottom of the presidential election. Especially since the forecast growth in the medium term Bercy (+2.5% per year) are considered "optimistic."

It should not, the agency said that the newly elected unleash the flange to the public finances in 2013. Instead, the agency left little choice to the government that emerges from the polls: "We expect the 2011 budget will meet its objectives (a deficit of 5.7%, Ed), but further efforts are needed to reduce the deficit to 3% of GDP in 2013, as agreed. " Debt levels will then stabilize at a level higher than before the crisis, reducing the flexibility to cope with future crises.

Note "under pressure"

In the medium term, Fitch added that "the memo from France could be under pressure (read: be revised downward, Ed) if the competitiveness of France was deteriorating again and if the position of France was weakening." The agency plans and the current account balance, ie the difference between money coming in and who leaves the territory, will remain negative in 2011 and 2012, approximately 2% of GDP. Fitch impels France to further reduce its "structural rigidities".

Despite these black spots, the Hexagon rest for now, said the agency, a "healthy and diversified economy," equipped "social institutions, civil and effective policies." He added: "financial flexibility reflect its status as a major issuer of sovereign benchmark in the eurozone. Clearly, the markets like, so far, take on France.

In recent weeks the government has repeatedly expressed its willingness to reduce migration flows. In April, the Interior Minister, Claude Gueant, promised "to bring down the volume of legal immigration." This week, the immigration of work he begins work. "Contrary to legend, France did not need the skills of immigrant, said the minister. It has the resources necessary "to fill its vacancies and" did not need bricklayers nor servers restaurants. "It is common sense," outbid Tuesday Budget Minister Baroin. A sense that still leaves many economists skeptical.

"On paper, it may be tempting to put face to face and unemployed immigrants," said Patrick Simon, a demographer at INED.If the French labor market was free of immigrants, it would make it not even more vacancies for indigenous peoples whose unemployment rate is one of the main concerns? "They forget that these two categories of people are not interchangeable," said Patrick Simon. Clearly, natives and immigrants do not occupy the same types of jobs, and make little competition. "They would rather complementary. And in this regard, there is a relative consensus, says Xavier Chojnicki, economist at CEPII and University of Lille 2. Most studies find indeed a very small impact of immigration on unemployment. "

"In France and Europe, the labor market is very segmented," he says. Immigrants often occupy low-skilled jobs, low wages, difficult working conditions.Areas of restoration, construction and personal services for example, still struggling to fill jobs that natives consider insufficiently attractive. According to the latest survey on the needs of labor performed by employment center, 61% of the offers of aid to home and pose difficulties for recruitment. "If the stream of immigration had to be reduced, this would create further difficulties in recruitment of these areas," said Xavier Chojnicki. With a probable consequence of a sharp rise in the black.

20,000 people per year

"In addition, try to reduce labor migration is surprising because it includes more migrants selected," Patrick says Simon.These 20,000 people a year who come to work in France at the request of business owners do in fact represent a small fraction of the 200,000 immigrants who settle there each year, including family reunification or humanitarian grounds. "Employers expect an easing of the rules because they need the foreign labor," he says.

Since 2006 and until recently, Nicolas Sarkozy also advocated for a "selective immigration", encouraging the arrival of candidates selected according to their professional profile. "Since then, labor migration has increased from 10,000 to 20,000 per year," said Patrick Simon. A marginal number compared to 500,000 job vacancies currently unfilled in France. "In total, this is not much either compared to the total migratory flow," J. demographer.Because France, like most European countries, is struggling to bring immigrants into its territory the most attractive. As such, Canada, Australia or the United States doing well ahead of the game their best

ALSO READ:

"The needs of the French economy in terms of legal immigration

"In Germany, immigration to the rescue of Demography

Launched in 2007, the iPhone gave the kickoff of the mobile Internet revolution. The proliferation of smartphones and the launch of the free operating system from Google, Android, did the rest. Today, 37.2% of French people equipped with mobile use their phone to access the Internet. And their uses have an economic impact, the French Association of Mobile Multimedia (AFMM) sought to evaluate.

According to a study conducted on its behalf by Solucom, the mobile market has reached a business volume of 1.2 billion euros in France, in 2010. The share generated by the distribution of digital content and services on mobiles, produced by publishers from the Internet, mobile operators, $ 800 million. In addition, there are 300 million euros investment in application development and mobile services.Finally, mobile advertising and direct marketing accounted for 130 million euros in revenue.

This market should grow by +50% over three years, says the study, to 1.9 billion euros at end 2013. "The market for content distribution and mobile services is already fairly mature. But business investment in the mobile, for the promotion and customer relationship services, will experience sustained growth in double digits, "explains Isabelle Chapis, Associate Director of Solucom. "In parallel, the number of smartphones will continue to grow," said Frank Abihssira, president of the AFMM.

"In this market, several economic models and cohabiting relationships are balanced between publishers and operators, says Franck Abihssira. We have created an ecosystem that creates value and jobs. "According Solucom, 10,000 jobs are directly related to the mobile.1500 others should be created in the next three years, an increase of 25%. "The jobs are highly skilled, high value, in engineering, but also design, ergonomics, marketing and sales," says Isabelle Chapis.

Market consolidation

The study estimates 500 the number of companies that make up this market. They are young: more than half are under five years of existence, fifty less than a year. They are also rather small: 70% of businesses have fewer than 50 employees. Unsurprisingly, 80% of players polled by Solucom anticipate a change in their capital by the end of 2013. An asset for potential targets of consolidation movements: 80% of companies operating in the mobile are profitable.

Finally, the sector should benefit from the emergence of shelves and connected televisions."The mobile sector is being opened to irrigate all the digital industry as a tool for authentication, payment and personalization," Isabelle Chapis analysis.

The U.S. stock market return in the green Wednesday. After a cautious start, the Dow Jones up 0.44% at 12,434 points, the Nasdaq climbed 1.03% to 2812 points and the S & P advance of 0.66% to 1338 points.

The indexes have regained upward shift after the publication of the conclusions of the meeting of the Monetary Policy Committee of the Fed in April. Participants spoke at length about inflation that has plagued the country prior to deduce that it was only "temporary." They also confirmed that interest rates would remain low until at least late June.

One solution is looming for Greece

Furthermore, advances in the Greek case are relieved. The option of rescheduling the debt held by creditors Hellenic both public and private, has gained momentum Tuesday in Europe, given the difficulties the country out of crisis.If Greece is making efforts, "we will see if it is possible to have a smooth restructuring of the Greek debt, has said the leader of the finance ministers of the eurozone, Jean-Claude Juncker. Restructuring "soft" requires longer periods for repayment and possibly lower interest rates.

On the foreign exchange market, the euro fell slightly against the dollar at 1.4222 dollars against 1.4234 dollars late Tuesday. For their part, oil prices recorded a sharp rebound on Wednesday in New York, a barrel of benchmark win $ 3.19 to 100.10 dollars. U.S. inventories of crude oil fell against all odds last week, said Wednesday the U.S. Agency for Energy Information (EIA). Crude inventories were down 15,000 barrels to 370.31 million. Economists on average had expected an increase of one million barrels.Gasoline inventories rose much less than expected, rising by 119,000 barrels to 205.94 million, against an estimate of an increase of 800,000.

Staples plummet, Dell flies

The side of values, the number two U.S. computer, Dell (5 online payday loan lenders.72% to 16.81 dollars) on Tuesday after the close of Wall Street net profit more than doubled and exceeded expectations for its first quarter of year 2011/12 to $ 945 million, but with a disappointing sales, up only 1%.

For its part, Intel (1.19% to 23.83 dollars) has denied rumors that it could produce chips for mobile phones using technology from its competitor ARM.Intel has also maintained a growth forecast of just over 10% for sales of PC processors.

The group office supplies Staples (-14.54% to 16.80 dollars) has reported a quarterly profit below expectations due to rising costs and falling demand in a recovery economically fragile. Net income amounted to $ 198.2 million or 28 cents per share, against 188.8 million or 26 cents per share a year earlier. Analysts on average expected a profit of 32 cents per share. Turnover increased by 2% to 6.17 billion.

Skyworks Solutions (3.38% to 27.54 dollars) has announced the acquisition of SiGe Semiconductor for $ 210 million in cash, which will add 65 million additional cases of achievement.

The shareholders of JPMorgan Chase (-0.41% to 43.63 U.S. dollars) on Tuesday accused the U.S. bank of negligence in the proceedings of foreclosures and the change in loans to troubled borrowers, particularly in relation to ethnic minorities.

Russian oil giant Rosneft said on Wednesday it had received new proposals for cooperation on the part of BP (-0.28% to $ 7), after the failure this week of their proposed strategic alliance to explore the Arctic .

Please note that LinkedIn, a site of exchange of curriculum vitae, announced Tuesday that the actions it intends to market, perhaps as early as Thursday, would be made at prices not between 32 and 35 dollars, as he had announced a week ago, but almost 30% higher, between 42 and 45 dollars for a maximum value approaching 3 but not 4 billion.