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The optimism was short-lived on the Asian markets. After an encouraging start of the week, the markets plunged again in the red, the footsteps of European and American stock exchanges. Hopes that the problems of sovereign debt in the euro area resolved quickly, as promised last weekend by the Franco-German duo have been showered by the rejection by the Slovak parliament to the expansion of financial aid funds the euro area (EFSF). Last country to vote on the subject, Slovakia was expected by the markets at the turn. This decision may slow the process of post-crisis recovery that the pessimism of the operators. A second vote, however, could be organized with the support of the left opposition which requires the holding of elections in exchange.

In addition to these political deals, investors are disappointed by the results of the aluminum giant Alcoa.The latter, which traditionally opens the ball results in the United States, reported Tuesday a quarterly profit below expectations, attributed to slower economic growth since mid-2011.

The U.S. Senate penalizes the yuan

In Japan, the bad news drive the Nikkei down. At the end, it gives up 0.40% to 8738.90 points. The broader Topix index has eroded his side of 0.21% to 753.44 points. Export values ​​are undermined by a strengthening of the yen was down 0.27% Toyota, Honda of 1.79% and 4.07% Nikon loose, affected by its decision to suspend production in Thailand by the floods that hit the country. For the same reasons, Toyota announced that he was forced to suspend production for the week in its three plants. Values ​​related to energy are affected by the poor results of Alcoa.Sumitomo Metal Mining loose eg 1.64% no fax cash advances.

Please note that orders for capital goods in the private sector in Japan, excluding energy and shipbuilding, jumped 11.0% in August compared with July, according to the government Wednesday.

Australia's S & P lost 2.09% to 3325 points. Values ​​related to the sector of raw materials are affected by Alcoa. BHP Billiton drops 1.20%, 2.51% Alumina and Rio Tinto 1.59%.

The Hang Seng in Hong Kong manages to remain in the green, up 0.63% to 18,255 points, as the Shanghai Composite Stock Exchange Shanghai jumped 2.16% to 2399 points. Always driven by Beijing's decision to support the banking sector, Agricultural Bank of China gained 1.34% and 1.13% Bank of China.Moreover, the U.S. Senate on Tuesday approved a bill to penalize China, suspected of manipulating its currency to boost exports, despite the reluctance of the White House. The adoption of the bill is a "severe sprain" the rules of the World Trade Organization (WTO) can cause a "trade war", responded Wednesday to the Chinese Ministry of Foreign Affairs.

The Korean Kospi follows in the footsteps of Chinese markets and advances from 0.50% to 1803 points. Even bullish on India Sensex climbs to 1.10% at 16,718 points.

Oil down

The price of oil was down at the opening Wednesday in Asia, where the market re-Slovak pessimistic after the rejection of strengthening European support fund and the estimated demand for crude revised downwards by OPEC.

In electronic trading, a barrel of "light sweet crude" for November delivery lost 1.04 dollars to 84.77 dollars. Barrel of Brent North Sea crude for November delivery gave 74 cents to 109.99 dollars.

For Jérôme Kerviel, the horizon is not entirely clear. His appeal is expected in June 2012. At trial, the former Societe Generale trader was sentenced Oct. 5, 2010 for fraud, breach of trust, forgery and uttering forged documents and five years in prison, three farm, and 4.9 billion euros in damages. The stakes are huge for him, if his conviction was upheld, he could not escape from the prison, having been detained one month and ten days in custody.

Olivier Metzner, remained the only lawyer after a parade of big names in Paris, he prepares the deadline today and this time decided to stay quiet.When the scandal broke, there was much media-presentation, signing, even before his trial, a book, The Gear, memoirs of a trader (Flammarion), in which he denounced "the reality of banking practices."

"Someone basically nice"

Today, thirty years working for a computer consulting firm located in Levallois, near Paris. The boss of this company, expert in court and knowledge of his brother and his first attorney, had befriended the young Breton and had welcomed home after the blast caused by the scandal. "All the people who approached basically found someone nice. He tries to do well in his way. And it's someone you can trust, "assured RTL in 2010 Jean-Raymond Lemaire, his employer.

The scandal January 24, 2008 when Societe Generale announced a record loss of 4.9 billion. Suspicion immediately converge on the trading Delta One desk model that would have concealed astronomical risk positions taken on the markets. At trial, Jerome Kerviel ensures that the bank had encouraged him to take such risks and had then "unwound" these positions in spite of common sense.

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Despite strong criticism from politicians, the public and shareholders, the board of directors of the British group BSkyB has renewed their confidence in James Murdoch, who remains in control of the company. "As you might expect, there was a long discussion on the board (Thursday), concerning in particular the role of the president and the board unanimously reaffirmed its support for James," said Jeremy Darroch, the chief BSkyB, the BBC.

In the spotlight since the outcry over the wiretapping scandal in the UK and the abandonment of the News Corp. offer. the entire bouquet of satellite channels paid, son of Rupert Murdoch resisted so pretty well. It must be said that under his leadership, BSkyB can not stop producing exceptional results.During the fiscal year ended June, BSkyB managed to attract 426,000 new customers to over 10 million users. What increase its annual turnover by 16%, to 6.6 billion pounds, or 7 and a half billion euros. Operating profit, up 23%, even more than the symbolic billion pounds (1.14 billion euros). In short, BSkyB is a real cash cow for its parent News Corp., Which holds 39.1% stake. And that is why Rupert Murdoch would put both hands on the entire group. An ambition he had to drop against the scandal caused by tapping the News of the World. The penalty was immediate the London Stock Exchange: title BSkyB plunged nearly 15% in July.

Very angry shareholders

Faced with obviously very angry shareholders, BSkyB multiplies the gifts.The group will hand out a total of one billion pounds through a share buyback program of 750 million pounds and a dividend increase of 20% to 23.28 pence per share. James Murdoch, who is also chairman of News International and Executive Vice President of News Corp., Has certainly won a race, but it is nevertheless not completely out of the woods. The natural heir of the empire, Murdoch could be again required to explain himself to MPs in the summer. British MPs seek, in fact, to understand why James Murdoch supported them, during his hearing, there are about ten days, he was not aware of the extent of fraudulent tapping, as of News International's former colleagues say otherwise.

Besides, sources from the board of BSkyB, quoted by the BBC, the support of the Board of satellite package does not go on forever, if new evidence calling into question the credibility of James Murdoch, chairman of the British broadcasting company since 2007, its role could be reviewed.

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A lifeline to 158 billion euros. The Greek Government did not hide his relief on Friday. He said that local banks were now able to overcome the crisis and promised to accelerate reforms, fight against tax evasion and privatization in mind. The entourage of the Prime Minister insists that the country now has an obligation of result and ensures that it will manage to escape the nightmare of debt.

A view that is far from sharing all the Greeks. A good part of them remains in an attitude of rejection of "the dictatorship of the markets." For Giorgos Delastik, political analyst, "Europe has saved Greece and its banks but not the Greeks. The country is under the supervision of the EU budget and the IMF for many years. It is humiliating that Greece is so singled out. And Greece is a kind of European laboratory.Wage cuts and new taxes imposed, will be too soon in all countries without exception. "

The hope of a recovery

Point of the Brussels agreement, however, found favor in his eyes: "The most positive is that Europe keeps its promises to implement an economic recovery strategy." The compromise provides that Greece has a largest share of EU funding for development (the so-called "structural funds"). For the economist Alexandros Paparsenos, "is the best announcement of the summit. By reducing debt and injecting money into the development, financing of infrastructure and major projects, it gives people hope for a recovery.The rigor was not an option and now hopefully return to a positive growth rate early 2012, "said he.

As part of the compromise on Thursday night, the banks had to make sacrifices. In the Greek banking sector, the tone is at the discretion. "This decision removes the pressure on Greece and will allow him to return to the market in three years to borrow large sums," hopes the president of a major Greek bank, on condition of anonymity. "Instead of paying 14 billion euros in interest rates, or 6% of GDP, the country will pay 11.5 billion. By cons, now the government has no excuses, he says. The Europeans, creditors, the people, everyone made an effort. This requires that led George Papandreou promised reforms in a fair and especially the privatization program.He has to channel the discontent of the Greeks, some want to boycott the system, and it encourages us to lend to entrepreneurs to boost the economy. "

The risk of a new social explosion will be part of the challenge of the Papandreou government. After the indefinite strike of taxi drivers, other sectors such as marine and port workers, announced that they observe similar movements. The game will be tight.

The French presidency of the G20 has a real workhorse: the fight against agricultural price volatility and put agriculture at the heart of the investments to ensure food security. In fact, this summit today and tomorrow brings together the ministers of agriculture of 20 countries representing 85% of world production, is a first in the annals of the G20 to put the assets of France. On the eve of the opening, the Minister of Agriculture, Bruno Le Maire, recognizes this: if an action plan has five points on the table, "it will be difficult to reach an agreement, both differences are profound. " No question as to aim for a minimum agreement. "We prefer to fail rather than give up a point.It is a coherent whole that can handle all causes, "insists on the ministry.

• Transparency in Physical

The most concrete commitment, it would create a database, called Friends Information System (agricultural markets) and hosted at FAO. To provide information that is "clear and transparent" about global levels of production, consumption and stocks, initially focused on corn, soybeans, rice and wheat. This involves the cooperation of private groups such as Cargill and Dreyfus. This should lead to a consensus, despite the reluctance of China and India on issues of sovereignty. They are willing to engage on the condition of technical assistance such as satellite photos.

• Increased productivity

Again, this measure of common sense could rally all members of the G20.This is to encourage investment in global agriculture by focusing on innovation to improve yields of wheat and rice. The challenge: increase of 70% of world agricultural production by 2050 to feed 50% more mouths payday loan companies. The draft declaration emphasizes the need to develop public-private partnerships, a point without critics in the major emerging countries.

• Coordination of global agricultural production

In order not to replicate the Russian episode last summer, the French Presidency pushing for the establishment of a Rapid Response Forum (RRF), which should facilitate the coordination of agricultural trade policies. A measure criticized by the United States and Australia, which refer this matter to the World Trade Organization. The subject of biofuels, blamed as a factor of volatility, pass second.The project calls for a "strengthening of the analysis between the production of biofuels and the food."

• Reduce the effects of volatility on the most vulnerable countries

The World Bank should encourage the establishment of contractual instruments such as loans cyclical, ensuring access to credit and risk coverage to the poorest countries. It also reserves to provide for humanitarian relief. The term "stock" was carefully excluded to avoid offending the most reluctant, USA, Argentina and Brazil, particularly hostile to administered prices.

• Regulation of financial markets

Railing against excessive speculation, Nicolas Sarkozy promised more regulation of financial markets.On this point, the final statement is likely to be modest, returning responsibility to the finance ministers, themselves remain highly dependent on market authorities. The text could, however, contain some recommendations, including imposing position limits, as is already done in Chicago.

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The U.S. stock markets, should re-open down on Monday. Future of Standard & Poor's 500 and Nasdaq 100 respectively retreating from 0.27% to 1260 points and 0.65% at 2181.25 points. Wall Street ended the session on a mixed note Friday. The Dow Jones gained 0.36% to 12004.36 points while the Nasdaq 100 lost 0.32% to 2192.96 points and the S & P 500 rose 0.89% to 1278.87 points.

Despite a new rescue plan for Greece launched last night by finance ministers in Europe, U.S. markets should still be concerned as their counterparts in Europe and especially Paris.

After the reassuring words of Heads of State French and German unit, which posted a welcome Friday, the firm tone adopted by the ministers at the weekend said that the issue will be very long to resolve.The central bankers in the eurozone have defined the conditions of payment of a further tranche of loans in July, but the finance ministers of the euro area indicate that the release of the loan must be accompanied by the vote of a new plan of austerity and privatization by the Greek Parliament. Banks and other private creditors and participate in this new plan. However the contours of that plan remains to be defined.

In the wake of renewed tensions, the euro falls against the dollar. 11:00 in Paris to the European single currency was worth 1.4232 dollars against 1.4301 dollars on Friday night. In addition, oil continues to fall sharply, quoting under $ 92 in New York.

On the macroeconomic front, the week promises to be charged. Members of the Monetary Policy Committee of the Fed will meet this week.The release will be issued Wednesday evening and Fed Chairman Ben Bernanke will give a press conference after the meeting. Aurel BGC experts anticipate little change in the FOMC statement. They argue that the Fed chairman should emphasize the temporary nature of the slowdown and reject any idea of ​​a new program of quantitative easing. Other highlights of the week, investors will monitor the number of housing sales in the old tomorrow and in the nine Thursday. Then Friday, they will learn the durable goods orders. The latter will benefit from a rebound in transportation orders, thanks to Boeing.

All eyes will be turned to the Paris Air Show, which opens Monday.

Boeing launches new version of its popular 747 jetliner, highly anticipated.In an interview with Le Figaro, Jim Albaugh, CEO of Boeing Commercial Aviation believes "it takes 30% of the world to survive over time." This morning, the airline Qatar Airways has placed an order with Boeing for six long-haul 777-300 ER for $ 1.7 billion (list price).

NYSE Euronext said Monday in a statement the actual launch on July 11 of the first platform for bond trading companies in Europe, the project has given the green light of the Financial Markets Authority (AMF).

The side of values, General Electric has reached an agreement in principle of the two largest unions of the company for new contracts."The four-year contract will enable advances on wages, pensions and job security. "

For his part, PetSmart will turn its quarterly dividend to 0.14 dollar per share against dollar before 0125. The board also authorized a share buyback program of $ 450 million.

Brasilia, Beijing, New Delhi, Cairo … Christine Lagarde has just completed the first part of his world tour to tout his candidacy for the general direction of the International Monetary Fund. Here she is back in Europe. She is in Brussels on Tuesday and Wednesday will be the Elysee for the Council of Ministers. For his part, Nicolas Sarkozy consults to choose one who could succeed to the Minister of Economy. Multiplying during the weekend of Pentecost, phone calls to his closest. "Nicolas Sarkozy is favorable to a minimum redesign. Its priorities, it is women and centrists. He feels he can not promote that of men, "says one of them.Another relative agrees: "Even if the president is anxious to raise a generation" Sarko ", its priority is to weaken the operation Borloo."

Another Chirac?

Three candidates stand thus Bercy: Baroin, Valerie Pecresse and former Secretary of State for Foreign Trade Anne-Marie Idrac, whose name has been blown by the President Edouard Balladur. If you believe the president of the UMP group in the Assembly Christian Jacob, the appointment of Baroin would be "more natural". "Francis knows the house and it would be hard at work immediately," says his friend. Which adds: "Remember that the successor will be named Christine Lagarde for a relatively short time."

But Baroin name "would raise another Chirac," sighs an elected UMP. Baroin has used the weekend to demonstrate its utility by Nicolas Sarkozy.The "adopted son" of Jacques Chirac would have intervened with the entourage of the former President of the Republic that he inflected his words on his vote in favor of Francis Holland in 2012. Is he aware of the frustration has been caused to the Elysee, Chirac's exit? He dreads the knock-on effects that this might have on the next redesign? "Sarkozy thinks he was badly rewarded by Chirac. He thinks of the consequences of the attitude of Chirac, "said a close.

"Sarkozy is like Chirac"

Should be appointed Minister of Economy, the carrier would lose Baroin parolat government installment payday loans. Sarkozy has thought of Bruno Mayor to replace him. A nice consolation prize for the former chief of staff to Dominique de Villepin who would succeed him as Christine Lagarde but the president wants to stay in agriculture. "Sarkozy is like Chirac.He does not move people when they give satisfaction to their job, "analyzes a former minister. More recently, he cited the name of the Minister for Ecology Nathalie Kosciusko-Morizet for door-parolat.

Nicolas Sarkozy would then play the "woman card" by ricochet. Unless he chooses to replace Lagarde by a woman. In this case, the Minister of Higher Education and Research Valérie Pécresse, Chirac also, who would hold the rope. More centrist than the Anne-Marie Idrac, on which the President recently expressed some reservations. Pécresse has several other advantages: the autonomy of universities is being hailed as the most emblematic of the reforms five years, his training and his career at HEC Ministerial Research have honed economic issues, his mastery of English , Japanese and Russian.

Viewed from the Elysee, his appointment at Bercy present another advantage: that of "liberating" a ministry full for the centrists. "John Leonetti or Marc-Philippe Daubresse Pécresse could succeed, but I think the president has a preference for Daubresse," said a relative. The name of Lawrence Hénart, secretary general of the Radical Party and close to Jean-Louis Borloo, also returns. Indeed, some suggest that poaching of this very close Borloo would be more "useful" than to honor a debt vis-à-vis Leonetti. "Leonetti said a member, is a faithful while qu'Hénart would be a prize of war."

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Christine Lagarde supports rained since the announcement of his candidacy for the general direction of the International Monetary Fund (IMF). Not surprisingly, governments that had made her the ideal candidate have confirmed their support Wednesday.

Germany supports and "strongly" the French Minister of Economy and Finance."Madame Lagarde is a person with great skill, which it acquired after serving for years of senior positions in the private sector, in politics and in the government of his country," said the door -Seibert Steffen government spokesman who said that Christine Lagarde control "at best" the issue of the crisis of debt in Europe, "which is especially important."

For its part, the Polish Finance Minister Jacek Rostowski said that "it is a very good candidate, it is difficult to imagine a better candidate and has the support of the Polish government," he told reporters.

Previously, Didier Reynders, Belgian Finance Minister, assured the minister of his country's support, yet he who had expressed interest in a candidacy."This could be the first opportunity to see a woman lead the IMF and organization of this kind, so there is a consensus in Europe to support the candidacy of Christine Lagarde. There may be different candidates but it is an excellent candidate "has o say there.

The idea of ​​unified support from Europe to the French minister is confirmed by a statement by José Manuel Barroso, President of the European Commission.According to him, "the Commission, which has very close working relationship with the IMF considers that the character of Madame Lagarde, and its commitment to strengthening global economic governance are essential to ensure the mission of the IMF and its vital contribution to international economic stability. "

These reactions should be followed by those of Italy, Austria or Luxembourg, which had all three joined Christine Lagarde even before his candidacy official no teletrek payday advance. The latter has even managed to win the support of British Prime Minister David Cameron.

The United States more divided

Outside of Europe, which concentrates 35.6% of voting rights at the IMF Board, Christine Lagarde has only to win the support of the United States (16.8%) and Japan (6, 25%) to be elected. Here the task is more complicated.On Wednesday, the U.S. Treasury Secretary Timothy Geithner, has shown divided between the French and Mexican Christine Lagarde Agustin Carstens it considers both "very reliable". Paris should take advantage of the G8 summit that starts Thursday at Deauville tomorrow to try to tip the balance.

Agustin Carstens could attract heavy weight of emerging countries. Brazil, which today welcomed the fact that "there is more than one candidate" for the post of head of the IMF, has rightly said he would visit the country next week to get the Brazil supports.

Since the only rumor about a possible election of Christine Lagarde, calling for two more as the direction of the institution they finally return after a reign undivided Europe.Pessimistic, India on Wednesday said that "unless the shares eligible to vote that many countries hold the IMF to be changed to reflect new economic realities, it will be extremely difficult for a candidate non-European to win the election. " Even China has expressed support for the candidacy of Christine Lagarde, as the government spokesman, Francois Baroin.

The French finance minister, now in season, will begin a world tour to try to rally to his cause the most reluctant government.

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LinkedIn assesses its value to three billion dollars in its IPO issue addressed yesterday with the Securities and Exchange Commission, Constable of overseas markets. American professional social network is about to score this month on the New York Stock Exchange.

The startup has warned that its growth could slow in the future, investment is expected to increase the capacity of the site. The site could not even be beneficial shareholder this year. In 2010, it has recorded fifteen million dollars profit on a turnover of 243 million. This income was 78 million in 2008.It has also surpassed the hundred million registered end-March, with 102 million accounts free credit report and score.

Some analysts remain skeptical of the optimism LinkedIn whose business model is based on recruiting, marketing solutions and profiles "premium" pay, is very different from sites like Facebook or Zynga, very popular with investors, who rather seek to consume their users via their interfaces. Despite these differences, the IPO of LinkedIn will probably be a good barometer for gauging the success of quotations from other social networks, eagerly awaited.

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Growth has accelerated in late 2010. It was posted at 0.4% in the fourth quarter after a modest increase of 0.2% in the third, according to Insee. It's a bit better than the previous estimate of 0.3% of the National Institute of Statistics. The figure for the year was left unchanged at 1.5% contrast.

Household consumption has firmly taken its French business. Consumption expenditure of households grew by 0.9%, while business investment slowed to +0.3% against +0.5% in the previous quarter.

The last three months of 2010, trade has contributed positively to growth. Although exports have slowed, but imports have them squarely fell 1.2%. The latter being credited domestic production accounted for in GDP to decline traced mechanically growth.