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To cope with an unprecedented situation, Barack Obama wants to convince the Congress and the entire nation to deploy exceptional means. In a speech 32 minutes, the head of the White House detailed the various measures of the broad stimulus plan of 447 billion, or 3% of U.S. GDP, it wishes to implement.

• 240 billion in tax relief

The flagship device this bill is based on the extension of exemptions from employer and employee. It represents $ 240 billion, more than half of the plan.

Thus, 175 billion will be dedicated to the continuation in 2012 of halving the employee contributions, or $ 1,500 less taxes for an average household.The reduction in employer contributions will represent it at a cost of $ 65 billion.

• 67 billion recruitment incentives

Moreover, the maintenance of unemployment benefits for part-time employees, trainees and entrepreneurs will cost $ 49 billion. Tax credits of $ 4,000 to encourage employers hiring long-term unemployed account for it, $ 8 billion. A fund to finance initiatives for the return to work in the direction of the unskilled and disadvantaged, will have 5 billion.

• 140 billion in major projects

In parallel, the President launched a policy of public works, again to stimulate employment. The White House and plans to "get employees to work while rebuilding and modernizing America" ​​via an envelope of 85 billion.And the objective is to focus on the Public: $ 35 billion will freeze up to 280,000 job cuts for teachers and maintain the jobs of police and firefighters.

In addition, 50 billion will be dedicated to the modernization of transport infrastructure and 30 billion to the improvement of at least 35,000 public schools. Other projects, the head of the White House wants to create a National Infrastructure Bank has $ 10 billion and 15 billion will be used for public projects or renovation of housing reinvestment and local business vacancies.Finally, the expansion of wireless internet broadband will have zero cost as offset by the sale of concessions to private.

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The Paris Bourse succeed does bind to a fourth straight increase session on Thursday? Yesterday, the Cac 40 ended on a strong increase of 3.07% allowing it to pick up 3250 points. And signals from Wall Street, which also ended the month of August on an increase of 0.46% are good. Also this morning, Asian markets generally appear in the green, backed by the index of manufacturing activity in China has reached 50.9 in August, against 50.7 in July.

Investors seem reassured by the Fed to continue to support that ensures the growth of the United States by a new policy of monetary easing.These remarks, made during the last minutes of the meeting of the Monetary Policy Committee, reinforce those of the Federal Reserve chairman, Ben Bernanke, who on Friday called the elect to make fiscal stimulus measures to complement the action of the bank Central. They were also supported by the publication of encouraging indicators.

Busy schedule in the U.S.

On Thursday, investors will keep an eye on the macroeconomic agenda of the day will still be charged in the United States. On the menu: the Monster Employment Index and weekly jobless claims before the highly anticipated monthly employment report on Friday. Productivity in the second quarter and is expected construction spending and ISM manufacturing.

In France, the unemployment rate as defined in International Labour Office (ILO) decreased slightly by 0.1 points in the second quarter to 9.1% on average in metropolitan (9.6% including the departments of overseas), according to data seasonally adjusted (SA) Interim released Thursday by the INSEE

As for the oil markets, a barrel of "light sweet crude" for delivery in October gained 21 cents to 89.02 dollars in morning trading and a barrel of Brent North Sea crude for October delivery climbed 29 cents to 115 , $ 14. On the currency markets, the euro fell slightly to 1.4358 dollar.

Values ​​to follow

Banking

Greek debt is out of control and the measures taken by the government can not restore the finances, the report of an independent parliamentary commission on Wednesday.

Illiad

The internet service provider reported in the first half of 231,000 new subscribers under its brand Free (excluding Alice), a market share of 36% and saw its EBITDA margin to improve by a , 4 point to 40%, or 416 payday loans online.4 million euros on sales of 1.04 billion (+2.6%).

France Telecom

The U.S. administration has initiated legal proceedings Wednesday to block the sale of Deutsche Telekom's U.S. subsidiary T-Mobile to the giant AT & T for reasons of respect for competition.

Pernod Ricard

The French producer of wines and spirits, announced Thursday a 10% increase in net profit for the year 2010-2011, exceeding for the first time the billion euros.

Eurazeo

The investment company said Thursday in a loss of 106.3 million euros in the first half due to losses on derivatives and goodwill

GDF Suez

The group said it had completed the acquisition of gas storage sites in Germany.

Eiffage

The new CEO of the group does not preclude the sale or closure of loss-making subsidiaries to consolidate the early resumption of the performance of the construction group observed in the first half.

Saint-Gobain

The group announced it would invest $ 100 million (69.41 million euros) in the United States to create a factory specializing in the manufacture of ceramic balls ("proppants") used in wells oil and gas.

Latécoère confirms its objectives

Lagardère

The group was forced to significantly revise down its forecast for operating profit for 2011 because of the difficulties encountered by the sports center in the first half.

Maurel et Prom

The group took the first half of the increase in its oil production and high prices in oil prices to clear the results up sharply.

Guyenne et Gascogne

The group reported a loss in the first half, the franchisee of Carrefour have been penalized by its subsidiary Sogara whose accounts were affected by several non-recurring items.

Latécoère

The group, whose net income rebounded sharply during the first half, confirmed its targets for operating profit in 2011 and 2012.

Theolia

The group reported Wednesday a recovery in its interim results, the French wind power has reduced its interest expense over the period, particularly through the conversion action of nearly two million of bonds.

After market, Neopost will publish its revenue for the second quarter and Stallergenes results for the first half.

In the aftermath of a black day on world financial markets, U.S. equity markets continue to brood. Despite an early trading in the green, the indices fro significantly negative territory 30 minutes after opening, despite the announcement earlier this afternoon in U.S. unemployment figures better than expected for the month of July. A 16h Paris time, the Dow Jones falling 0.48% to 11,328 points, the Nasdaq lost 1.46% more frankly to 219 points and the S & P was down 0.69% to 1191 points.

A move followed by other European stock markets. In Paris, the political mobilization against the bear market of Europe, however, allows to limit the drop in European indexes.

The employment figures dictate trend

In this context the assumption of a recession in the U.S. or the world, is today one of the main fears of the markets, the announcement of a significant improvement in job creation last month seems calm people down on Wall Street Friday after a collapse in U.S. up over 4% yesterday. In recent weeks, disappointing publications on the state of the U.S. economy had, in fact, chained, challenging the idea of ​​resumption of the world's largest economy. This publication confirms the figures released Wednesday by ADP, reports of more new jobs than expected for the month of July.

At 21 hours the numbers of U.S. consumer credit for the month of June will end this week full of macroeconomic data.

Oil and euro pressure

Oil prices climbed hesitantly at the opening Friday in New York, despite the employment figures better than expected, as the market wondered if it would be sufficient to support the demand for crude in a very fragile economic environment . On the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for September delivery was trading at 87.04 dollars, up 41 cents from the previous day.

This concern also weighs on the currency front, the euro was trying to rebound against the dollar but remained under pressure from macroeconomic concerns.To 15 hours in Paris, the European currency was worth 1.4224 dollars against 1.4106 dollars on Thursday night, after falling to 1 payday loans for self employed.4055 dollars in early Asian trade, its lowest for three and a half weeks.

AIG, GM and Procter & Gamble publish their accounts

On the corporate side, the semi-annual publications still dominate the news on Friday.

Thursday evening after market, the insurer AIG (-0.23% to 26.34 dollars) announced a return to the green of its accounts in the second quarter, with net earnings of $ 1.84 billion over the period, against a loss of $ 2.7 billion a year earlier. Per share, net income totaled $ 1 ($ 0.69 after tax, against $ 0.92 expected by analysts).

At the same time, and its first quarterly since its IPO on May 19, LinkedIn (-2.27% to 93.36 dollars) was positively surprised markets by announcing a turnover more than doubled the second quarter to 121 million dollars (120 euros) and net profit (4.5 million), where analysts expected a loss.

GM Motors (1.27% to 26.32 dolars) Thursday reported quarterly results exceeded expectations, with a near doubling of profits over the period.

Procter & Gamble (1.78% to 60.64 dollars) released before market on Friday for the fourth quarter of fiscal offset, net income up 15% to $ 2.51 billion.Of 2010-2011, so it shows a net profit of 11.79 Annual Statement billion, down 7% from the previous year.

Viacom (3.55% to 53.17 dollars), the parent company of MTV and Comedy Central, has reported a rise than expected in earnings thanks to strong revenue growth in advertising Cable and license agreements with websites. Its quarterly results (Q3) increased to $ 574 million against 432 million

Bank of America (1.70% to 8.98 dollars) is highly exposed to the most fragile countries in the euro zone, according to a document from the bank. The group said exposure to the tune of $ 16.7 billion (11.8 billion euros) in total to Greece, Ireland, Italy, Portugal and Spain in June 30Management has indicated in a document submitted to the regulatory authorities that its losses could reach up to legal $ 2.3 billion in addition to the provisions already passed for this purpose.

It's time for Spain to be in the sights of Moody's. The agency placed the credit rating of the country under surveillance for any reduction, said a statement issued Friday, indicating a downward revision of the country's Aa2 rating one notch lower. The agency believes that the difficulties of Madrid to borrow at an acceptable rate will escalate following the second plan the rescue of Greece, who "made history" involving the private sector and a marked increased risk for investors bondholders fragile in the euro area.

The rating agency also advanced a weak growth of Spain and fiscal slippages in some areas of the country, adding that it would present risks, burdens on efforts to reduce deficits, which have recently been undertaken by Madrid .

Highlighting the challenges that the Spanish government will face for fiscal consolidation and improving the fiscal situation of the Spanish provinces, Moody's has given the banking regulator Spanish Fondo de Reestructuración Ordenada Bancaria (FROB) a rating Aa2, providing a possible degradation of the latter in the future.

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The major stock markets in Asia are in the red on Tuesday. The signals sent yesterday by the stock exchanges in Europe and the United States do not encourage investors to take risks. Gloom settles permanently while stresst tests of European banks are not convincing and that the debt problems on both sides of the Atlantic continue.

In Tokyo, the Nikkei, which resumed trading after the long weekend, started on a decline of 0.53%. An hour of closing, it was down from 0.60% to 9914 points. The banking sector is particularly abused in the image of Mitsubishi UFJ Financial (-2.54%), Nomura Holdings (-2.34%) and Daiwa Securities Group (-1.15%). Export values ​​also suffer from a higher yen against the dollar: Sony loose 2.06% 3.63% Nintendo loses first Panasonic was down 1.95%.

For their part, Hong Kong and Shanghai respectively lost 0.29% and 0.47%.In Hong Kong, banks are still in trouble: HSBC Holdings (-0.47%), Agricultural Bank of China (-0.99%) and China Merchants Bank (-0.22%) down.

Only exchanges of Korea (0.12%), Australia (0.10%) and India (0.26%) manage to rise into the green but remain cautious. Note that at the Sydney Stock Exchange, the action News Corp, battered since the wiretapping scandal, bounced 2.54% to 14.53 dollars as investors take advantage of lower stock price.They also respond to information from the Wall Street Journal under which Rupert Murdoch, the founder of the media group, plans to release the reins of his company.

Oil climbs the slope

Oil prices were up Tuesday in electronic trading in Asia, investors taking advantage of prices driven down by concerns about the debt crisis in the eurozone, analysts said.

In morning trading, a barrel of "light sweet crude" for delivery in August took 38 cents to 96.31 dollars. That of Brent North Sea crude for September delivery took 41 cents to 116.46 dollars.

The agreement is good news the French biotech Innate Pharma. The company, based in Marseille, in a statement anounce the signing of a global agreement with the U.S. laboratory Bristol-Myers Squibb (BMS).

BMS is thus committed to finance the development of the IPH2102, a new antibody in Phase I development created by the biotech Marseille for the treatment of cancer. Thus, the U.S. laboratory to make an initial payment of Innate Pharma $ 35 million, followed by other milestone payments based on research findings. The total amount of the transaction could reach $ 465 million (over 320 million euros).Innate Pharma should also receive a fee, a "double-digit percentage" of international sales net of the product.

In exchange, "Innate Pharma will provide Bristol-Myers Squibb exclusive worldwide rights to develop, manufacture and marketing of IPH2102 and compounds structurally related KIR receptor blocking."

Innate Pharma flies title

"This license agreement is the largest ever made to date with a French biotech in financial terms," ​​said Hervé Brailly, CEO of Innate Pharma. "Bristol-Myers Squibb is a global leader in the field of immuno-oncology and as the best partner we could look to realize the full potential of IPH2102," he adds.

To BMS is a new step in its strategy of "string of pearls."The giant seeks to "establish collaborations with innovative businesses and leaders in their field worldwide," said Mike Seeley, CEO of BMS France.

The announcement of the agreement was followed closely by investors. The title Innate Pharma jumped nearly 80% in early trade, to 2.35 euros. The CAC 40 rose 0.46%.

At the Paris Bourse, the trend is expected to be negative on Tuesday, more pronounced than the day before, while the Cac 40 showed a slight decline, and Asian stock markets this morning. Wall Street closed yesterday, will reopen at 15:30. Yesterday, the Cac 40 ended on a slight decline of 0.11%, but was maintained jsuute above the 4000 points, to 4003.11 points exactly.

If the folder Greek reassures the issue of sovereign debt in Europe remains. However, in Ireland, the country is on track to meet its goal of reducing the deficit for 2011, with a deficit in the first half of 10.8 billion euros, in line with forecasts, assured the Irish Minister for Finance, Michael Noonan. In addition, the goal of 34.9 billion euros in revenue in 2011 "remains doable," he said.

On Tuesday, is expected at 9:50 Markit composite PMI index.In the euro area, opn know retail in May to 11 hours while in the U.S. industrial orders in the month of May will be known 16 hours. On the currency side, the euro was down 0.42% to 1.4480 dollar.

First trading day of Dia in Spain

Carrefour. Tuesday is the first day of trading of the shares Dia, a subsidiary of Carrefour, the Madrid Stock Exchange. In addition, the shareholders of the holding Wilkes, who controls the Brazilian Grupo Pão de Açúcar (GPA) will meet on August 2 to discuss the proposed merger with Carrefour, said in a statement released Tuesday no fax pay day loans. Wilkes is controlled by Casino, current partner of GPA and fierce opponent of the approximation of the latter and its French rival Carrefour, and the family of Abilio Diniz investor.

PPR.The French group distribution and luxury becomes the majority shareholder, with 50.1% of Swiss Sowind Group (brands Girard-Perregaux and Jean Richard) to strengthen in the field of fine watchmaking. The operation will be done through a reserved capital increase of Sowind Group, which will be fully underwritten by PPR.

Yellow Pages. The group of French directories announced that he could not meet its objectives in 2011. Yellow Pages originally expected to maintain its sales and operating margin stable. The company explains that social movements, which severely disrupted his business last month, could affect its revenues to the tune of twenty million euros.

Bombardier. The Canadian manufacturer of trains should announce job cuts at its site in Derby Litchurch Lane, in Great Britain.British trade unions have called for negotiations, but the measure could actually reach 2000 posts in this factory which employs 3,000 people. Bombardier justifies this decision by the loss of a major contract in favor of Siemens in the UK.

Publicized announced a majority stake in Spillmann / Felser / Leo Burnett, one of the leading advertising agencies in Switzerland.

Carrefour is a step forward to catch up on e-commerce. The group signed an agreement with Pixmania to develop a site selling non-food products in several European countries. Pixmania will be responsible, through its subsidiary e-merchant, to develop the site of the distributor. Some, or perhaps the entire catalog of Pixmania, which sells "everything" according to its CEO, but mainly electronic products, will also be sold under the Carrefour brand and sold in stores in the group.

If both partners remain discreet about the financial terms of the transaction, the aim is to bridge the gap of the distributor, outpaced by the site e-Commerce Casino, Cdiscount, the site recorded 6.8 million visitors Unique in France in May, according Médimétrie / NetRatings.At the same time, there were 7 guaranteed unsecured personal loan.4 million in Cdiscount and the two leading general commercial sites, Amazon and PriceMinister 8.9 and 7.8 million respectively.

"This new partnership is a major step in the development of Carrefour's multi-channel strategy," said Lars Olofsson, CEO of Carrefour, said in a statement. Jean-Emile Rosenblum, vice president and cofounder of Pixmania, the site of Carrefour should quickly catch up with the "technology platform and logistics products" of his group of e-commerce. "There are huge market share to conquer the Internet and that have in the physical world," he adds, citing for example the articles bazaar and sale of televisions.

More notoriety for Pixmania

Steve and Jean-Emile Rosenblum, founders of Pixmania. DR.

It will still wait to see Renault to build a new high-end model. The next generation of the Laguna and Espace, which is currently working on the group, "come out from the end of 2014," said Jerome Stoll, the commercial director. Replacement of the Vel Satis, ie the launch of a large luxury sedan, however, is not expected at this time, unlike what was envisaged in the fall in 2 to 3 years.

Frozen during the crisis, the renewal of Renault's high-end drags on. Originally planned for 2010-2011, the output of the successor of the space has continued to be shifted. Last September, the group was a sale of this vehicle in 2013-2014.

Yet it is urgent. The manufacturer has stopped production of its Vel Satis end of 2009. Last year it sold just 53,700 17,000 Laguna 3 and 4 space, two models from 2007 to 2002."As a carmaker, it is vital for Renault to be present on the high end" in order to have an offer modern hotel located above the Scenic MPV, Jerome Stoll said. Another issue this type of product takes the image of the entire line up.

PSA on the offensive

The subject was presented recently to the agenda by the government, major shareholder of the manufacturer, who insists that Renault acquires a high-end product in France high quality business cards. The next Laguna and Espace, however, could also be manufactured abroad, to markets outside Europe, according to an internal source.

The weakness of Renault on the high end is more apparent than his rival PSA increases the offensive in this niche. Citroën has introduced the DS4, the second model in its distinctive range DS. And Peugeot marketed earlier this year its 508.Originality of the approach, the 508 and the future DS5 will be manufactured and sold in both Europe and China, to amortize development costs.

If he wants to go upmarket, Renault will be faced with the difficulty of having to do the splits. For the same time, the group intends to accelerate the development of its low-cost Dacia brand, to bring it to 2% market share in Europe in 2013. Counting models of this type sold under the Renault brand internationally, this range could be up to 30% of sales of the manufacturer in this horizon.

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Overtax businesses too generous with their leaders. The idea was launched by Prime Minister Francois Fillon in an interview published Saturday in Nice Matin: "With the government, I think about a device that is to overtax the companies issuing exorbitant fees." François Fillon and takes position on an issue that divides the majority.

The head of government is responding to the proposal of Xavier Bertrand, Minister of Labour and Employment, to "tax" or "frame" the "extravagant salaries." It lampooned in an interview published Thursday by Les Echos code of conduct drawn up on the subject of big salaries. "Write a code of conduct is good. The enforcement is better, "he said. Considering that some large companies did not comply with these principles, the Minister has threatened to legislate on the issue.

Shocked by some earnings

In Nice Matin, François Fillon rejects such an approach in trying to punish companies through a tax rather than the bosses through a ceiling unsurpassable. If it says "shocked" by some remuneration of senior executives, the Prime Minister "not [believe] not the regulation of wages for some totally disconnected from economic reality of the business and wage negotiations." However, he called the companies to regulate themselves. If they do not, the government will make decisions, he added.

François Fillon's statement takes an idea Baroin. The services of the Minister of Budget are working on the issue from the perspective of the tax reform of heritage to be considered in the fall paydayloans. Baroin said he wants "an exceptional contribution on income, not an outstanding contribution."The advanced solution: drain on companies making non-deductible from corporate tax wages too high.

The salaries of officers of the CAC 40 rose 19% in 2010 compared to 2011 according to a study of the expansion. Their average salary was 4.2 million. And increases do not always correspond to performance industrial markets.

No revaluation of the minimum wage

François Fillon said in the same interview in Nice morning that there would be no boost given to the minimum wage at its next revaluation. "Today, it would be an economic mistake. This will overwrite the hierarchy of wages and would drive up labor costs and thus unemployment, "he justified.

François Fillon has argued that "before 2000, the labor cost of products manufactured in France was on average 15% cheaper than in Germany."However, "since the 35 hours, this advantage was lost in some sectors such as agriculture and services, we are overtaking Germany," he said.

According to the Ministry of Labour and Employment, the next automatic adjustment of minimum wage-price inflation when the achieved 2% since the previous revaluation, "could take place" in August.

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