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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.

Cocorico at McDonald's. The American chain, famous for its burgers, is preparing to lead a revolution in the world of fast food, introducing the baguette on the card! Later in September, its customers will experience the charm of a breakfast at the French, by having bread and butter and jam on fresh bread in the 130 McCafe chain (separate counters of coffee , cakes and pastries). In the first half of 2012, McDonald's go even further by launching the new sandwich-based wand. Formidable competition for all bakers, especially since McDonald's is decidedly very affordable price.

The bread will be supplied by the Holder Group (owner of Paul Bakeries and Ladurée), which already manufactures the supply of cakes and pastries of McCafe in France."During its first fifteen years in France, in 1980, McDonald's has primarily offered a small slice of America in important model, said Nawfal Trabelsi, senior vice president, McDonald's France and southern Europe. Today, we are part of everyday French. Our priority is to integrate local and tint of French culture history of our offer hamburgers and ice cream, while inventing new forms of sandwiches. The French are passionate about bread, crazy wand. We respond progressively to a natural demand. "According to the firm Gira Council, the French consume nine times as many sandwiches as hamburgers, and more than 60% of sandwiches sold in France are based on baguette.The most acclaimed is the classic: ham and butter (75% of sales of baguette sandwiches).

Success of the wheat cake

By baking fresh bread in the morning, McDonald's hopes to boost its offering of breakfast, while flattering image. "We feel the smell of warm bread at the entrance," says Isabelle Kuster, Vice President of Operations in France and Southern Europe at McDonald's check cash advance. Specifically, from the start, the McCafe offers small individual flutes, two sold with a portion of butter (provided by the cooperative of Isigny) and a small jar of jam (apricot, raspberry and orange), handmade by a producer the Pyrenees. "We are responding to a request, warrant Isabelle Kuster.Our breads are baked on the premises all day, the idea being to sell them warm at all times. "Already, 25% of transactions are McCafé the morning (usually open from 7 to 8 hours), but breakfast is less than 1% of sales of McDonald's. "It would be wonderful to double sales," says Isabelle Kuster.

The arrival of the baton at McDonalds, so symbolic, is a step in the strategy of teaching to meet specific dietary habits if the French, while working with local suppliers. In 2009, the chain broke new ground with a Big Mac in the bread. In January, it launched a McCantal and in late February, Charolais, Charolais burger with French origin."At McDonald's, we strive to continuously reinvent ourselves," insists Nawfal Trabelsi, stressing that "diversifying the supply of bread is at the heart of our strategy of product development." Since May, McDonald's markets and the McWrap, cooked to order in a large cake topped wheat. France is the second country after Austria to build on this new generation of sandwiches to supplement the supply of burgers and salads. The first results are above expectations. In two months, over 50% of customers have tasted and three quarters have already renewed the experiment.

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While Wall Street ended the session and declined Friday Asian stock markets see red on Monday morning, the CAC 40 continues its decline on Monday. Halfway through, he gave up 1.44% to 3858.11 points. The session will be marked by the expectation of the beginning of earnings season in the United States, with the aluminum giant Alcoa, which must publish its figures after the close of Wall Street. Investors are also nervous until the advances of another meeting of central bankers in the euro area held Monday in Brussels.

Van Rompuy, Barroso and Trichet, heads of three major European institutions – the Council, the Commission and the Central Bank – in fact, find themselves on Monday to spur the seventeen countries of the euro, still unable to agree of mounting a second rescue plan for Greece.Then the seventeen ministers of finance are again struggling in the afternoon of the participation of private creditors (banks, insurers and pension funds) to finance the 110 billion euros expected by Athens. In addition, concerns are doing now in Italy. Friday, the country has seen its returns soar. Rumors about a possible resignation of Finance Minister Giulio Tremonti, would have triggered the movement.

These concerns continue to weigh on the euro, which widened its losses against the greenback on Monday. Around 11:00 in Paris, the single European currency was worth 1.4123 dollars against 1.4258 dollars on Friday night, falling to levels seen for two weeks.

The macroeconomic situation across the Atlantic does not reassure the markets more. The United States are also penalized by a debt record. Barack Obama finds MPs on Monday.He said Sunday night, before a meeting with key members of Congress, he "must" that Congress reached agreement on the debt within 10 days. Otherwise, the U.S. could default on August 2.

Chapter macroeconomics, INSEE released the figure in industrial production in France for the month of May Over the period, and after two months of decline, it bounced 2%, against 0.5% expected by the consensus.

Car values ​​down sharply, despite the results of Renault and for values, the release this morning (tomorrow ahead of Peugeot-3, 74% to 30.09 euros) business results Renault (-2.17% to 38.35 euros) was not at all convinced investors. Carlos Tavares went to the site of Flins Monday.The automaker has announced an increase of 1.9% of its global sales in the first half, the strength of demand abroad offsetting supply problems it encounters in Europe. The group also expressed its willingness to establish a new sales record this year by selling more than 2.6 million vehicles due to its growth internationally and despite the poor performance in Europe in the first half, he said Monday.

The financial sector ailing

The financial sector is in bad shape, still weighed down by the debt crisis in Europe. Mid-session, BNP loses 3.92% to 47.87 euros, Axa, plunges 4.69% to 14.53 euros, Crédit Agricole ceded 3.05 9.18% to 3.88 euros and Societe Generale to 37.03 euros.

Air France (-1.37% to 10.06 euros) will propose October 13 routes from Marseille to France, Europe and the Mediterranean from 50 euros one way, a way, she says, to launch an "offensive" against the low cost.

Moreover, the energy values ​​react more weakly to kick off the giant tender (about 10 billion) government on the construction of an offshore wind farm with a capacity of production of 3000 megawatts.

Several candidates have already expressed: the consortium GDF Su ez (-0.84% ​​to 24.08 euros), Areva (-0.81% to 24.50 euros) and Vinci (-0.92% to 41.98 euros), another consortium Areva and combining the Spanish giant Iberdrola, EDF EN and all (-0.01% to 39.67 euros), Alstom (-1.2% to 40.76 euros ) and Dong Energy.E. ON and EDP-R have also responded to the tender.

Total (-1.09% to 39.53 euros) could write off some tax benefits. Following the controversy triggered by the imposition of any large groups of the CAC 40, Total could give up to enjoy the tax shelter known as "worldwide profits." The CEO also announced that he would pass to the pump the recent increases in crude oil prices.

Mergers in the telecoms

Bouygues Telecom, a subsidiary of Bouygues (-0.85% to 28.63 euros). The smallest of the three French mobile operators own their own network announced Monday the signing of a framework agreement with Spain's Telefonica, which will allow it to benefit from the infrastructure and the size of its new partner.For its part, rival France Telecom (-0.63% to 14.17 euros) was approached by the television channel in Qatar, Al-Jazeera, for the redemption of Orange Sport. Discussions are in progress.

Sanofi (-0.94%, to 55 euros). The laboratory has sold its dermatology at Dermik Valeant Canada for $ 425 million (300 million) to focus on its platform for growth in the United States and Canada.

Airbus, a subsidiary of EADS (-0.15% to 23.16 euros), would be willing to sell out to rival Boeing. The European aircraft manufacturer could make significant price reductions to crop market share with its U.S. rival in the U.S., in connection with the tender launched by American Airlines, says the Wall Street Journal. The U.S. airline expects to order 250 aircraft.

On the other hand airlines could face a strike in early August.The union of airline pilots SNPL filed a strike notice for all French airlines from August 5 to 8, written Tribunedans his edition of Monday.

Ipsos (-0.06% to 32.76 euros) could be thwarted in his plans to return to UK Synovate. In fact, the British investment fund would be willing to put 675 million euros for the acquisition of Synovate, the tamping pin to French Ipsos already in discussions with the company for market research, according to information from the Financial Times. The Aegis Group, which owns Synovate, however, have rejected the offer.

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After attacking the Portugal earlier this week, markets accentuate the pressure on Italy. Friday, the Milan Stock Exchange closed on a fall of 3.47% due to a sharp drop in bank stocks. The Italian 10-year rate reached a record 5.259%, while the gap with the German borrowing rates soared to 242.4 basis points. The markets fear a contagion of debt to Italy, the third economy in the euro zone, whose debt reached 120% of GDP. Under pressure from rating agencies threatening to lower the rating of the country since the spring, Rome adopted an austerity budget of 40 billion euros on Thursday, but the political crisis, revived by Berlusconi's statements could derail everything.

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This is a record for Le Figaro and a record for news sites. In May 2011, lefigaro.fr exceeded 8 million unique visitors monthly, according to figures released Thursday by Médiamétrie / / NetRatings. At the high for the 31st time in three years, the gate ahead and Orange News (6.39 million unique visitors) and the site of the World (6.35 million unique visitors).

The period was marked by a rich news – the announcement of the death of Osama bin Laden in early May to the "DSK affair", to Roland Garros in the sports section. The previous months have been rich in events (revolutions Arab war in Libya), many users began to take their habits on news sites. A favorable environment which has benefited all media.But, "covering a wide range of topics, Le Figaro was able to reach a wide audience," Bertrand analysis Gie, New Media Director Figaro.

Fourth in the ranking falls to the site free 20 Minutes (5.79 million), followed by the Nouvel Observateur (5.79 million) which launched its space over the period participatory "The Plus". First "pure player" of information, The Post comes in 17th position with nearly 3 million unique visitors. The video sharing site Dailymotion has met, as for him, 2.47 million unique users on its news channels.

Just arrived in the summer, here are the summer sales. From Wednesday, the clothing retailers will offer discounts of 30 to 50% of their collections. This is for them to attract consumers who shun fashion for nearly two years. If an improvement was seen in the spring, it could be threatened by an inevitable increase in prices of clothing, the impact of rising costs of raw materials, labor and transportation.

"We are all faced with rising production costs that we have at least partly reflected in our prices, and this will be even bigger in the fall and winter," says Antoine Brieu, director of C & A France. Its sign, high image discount, is not doing too badly at the moment, because in inflationary times, consumers fall back on cheap brands.C & A has found "a significant increase in its turnover and sales volumes" in March, April and May

"Buy smart"

In general, the industry experienced a beautiful spring, after a bad first quarter. Sales in April and May were supported by good weather, before a lull since early June due to weather and to wait before a traditional balances. "We have no signs of a recovery in the consumption of textiles in France, contrary to what one can see in some countries of northern Europe, says Gildas Minvielle, head of the center of economic French Institute of fashion. And in times of crisis, it is difficult to raise prices too much.The increases will be applied in a differentiated way for this to be as painless as possible. "

Aware of the issue, the French will then engage in a hunt for "buying smart", as they have done since the beginning of the economic downturn. This time, the scope is relatively narrow. As traders have sold quite well in early spring, the stocks available for sales are less important than the past seasons.

Distinguish the goods to the risk of missing

In addition, professionals, stung by the decline in demand were far more modest in their orders. "Companies have become very conservative for two years.They would rather miss sales than remain with unsold inventory, "said Jean-Marc Genis, president of the National Federation of brands of clothing.

If, as always, a rush is expected at the start of the period, the effect balances the risk of falling fast enough. "We usually sell 50% of our total sales the first week and then is divided by two every week," said Antoine Brieu C & A.

So, after two to three weeks, the goods to stand out may be missed. This will allow retailers to quickly implement the fall-winter season.With price increases all the more important that the parts are more "heavy" coat material includes more than a T-shirt.

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It's been five years since the U.S. housing bubble deflates, after swelling for fourteen years. The consequences of this reversal are still stopping the economy and financial system of the United States poor credit personal loans.

Click on image to enlarge.

The vote was taken freehand. The National Assembly on Friday passed the relief measures of the solidarity tax on wealth (ISF) contained in Section 1 of the supplementary budget (supplementary budget Ed.) 2011qui door for the tax reform Heritage .

Threshold at 1.3 million euros

This article provides for the abolition of the first tax bracket to the ISF by raising the entry threshold of 800,000 to 1.3 million euros of assets. This measure should allow taxpayers to exempt 300,000, which corresponds, according to the government, owners of a principal residence whose value has soared because of the explosion in property prices in recent years.

Two rates of 0.25% and 0.5%

Section 1 provides further reduce the progressivity of the ISF. The schedule now has six units which techniques are applied six rates ranging from 0.55% to 1.80%.If the text is finally adopted by the Assembly and the Senate, it restr only two tax brackets: 0.25% for those whose assets do not exceed 3 million euros and 0.5% where the estate is greater.

This Friday, the resumption of debate, an amendment allowing a small reduction in ISF extra part dependent children has been strongly denounced by the left. In detail, the amendment of the rapporteur Gilles Carrez UMP plans to "increase the amount of reduction for each dependent from 150 euros to 300 euros, including adult children who are studying business card. "Interesting," said Budget Minister Francois Baroin, who relied on the "wisdom" of the Assembly. "You have no shame.It's outrageous, "launched the PS deputy Christian Eckert, denouncing" 150 euros reduction for people whose assets exceed $ 1.5 million, even though the school year allowance is granted conditionally for income below 23,000 Euros.

On June 14 the Senate

The reduction of the ISF is the corollary of the abolition of the tax shield, a key measure of quinquénat adopted in 2007 which provided for the tax cap to 50% of revenues.The fate of the latter, under section 13 of the supplementary budget will be sealed within hours or days ahead, examining the text to run until Tuesday, June 14, the date set for the formal vote and Transmission of the Senate.

(With agencies)

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From our correspondent in India.

Christine Lagarde has just arrived on Tuesday, June 7 at Delhi where she will try to convince Indian officials that while emerging markets are booming, it is best placed to her, the European, to replace Dominique Strauss-Kahn the head of the International Monetary Fund (IMF). The French Minister of Economy, Finance and Industry will meet with Pranab Mukherjee, his counterpart of Finance and Prime Minister Manmohan Singh. It should also meet with Montek Singh Ahluwalia, Deputy Chairman of the Commission Plan. It is no coincidence. There are a few more days, Ahluwalia had been presented as a potential candidate from India. And why not, BRICS, the bloc of emerging economies that account Brazil, Russia, India, China and South Africa. Then the rumors were silenced.Officially, Montek Singh Ahluwalia would have exceeded the age limit for a candidate. In fact, Delhi has decided not to enter the race.

Paradoxically, India does not seem interested in carrying the "Battle of the IMF." "There is no shortage of leading economists, diplomats and scholars of talent that could be good candidates. And since the World Bank president has always been an American and a European director of the IMF, it would be logical to try to persuade the fund to elect now a candidate from a developing country, whose influence on the global economy is growing, "protested Anant Goenka, an economics professor.He continues: "Why this silence as China, Brazil and South Africa are on the frontlines demand a change?"

The positions are changing in India

Defeatist, India? "You can say so, but the silence of Delhi shows that Indians are particularly realistic in this matter," says BL Pandit, director of the Delhi School of Economics. It is not a democratic election, the contribution of India to the IMF's reserves is not very high, and finally, everyone here thinks that games are made and, again, the position go to a European. " He acknowledged however that "things are changing rapidly" and that growth is changing latitudes, "it might be that the leaders of the Western world are considering share positions in international forums."

At the last summit of BRICS in China last April, India had not been left to demand a reform of the Bretton Woods for emerging countries. In late May, when Dominique Strauss-Kahn had resigned, Manmohan Singh, who was visiting Addis Ababa, had stormed: "Reform of the Bretton-Woods is a priority for developing countries." He has since changed his tune. On the occasion of the visit of German Chancellor Angela Merkel in late May, the leader of the Indian government said: "A prestigious position must go to the best candidate, regardless of nationality."

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The new operational boss of Renault will have to quickly roll up their sleeves, as the challenges that await her number. First priority: to forget the disastrous management of the spy case, which has deeply shaken the entire company, three frames have been wrongfully dismissed. It will include restoring the confidence of employees towards the direction of the group, widely discredited by the fiasco, in which, besides Patrick Pelata, the former number two, several executives have been implicated.

Meanwhile, Carlos Tavares will restore momentum to a manufacturer whose weight continues to fall within the Renault-Nissan. The Renault group has passed 2.6 million cars last year, against 4.1 million for the third Japanese manufacturer.

But the weight of the Renault brand is actually much lower.Between 2004 and 2010, sales of cars in the diamond fell from 2.3 to 2.1 million vehicles, while Renault Samsung Motors of Korea has almost doubled and Dacia, the Romanian subsidiary low cost has increased by 3.5. In total, counting models badged Dacia Renault in emerging countries, these low-cost cars represent 26% of group sales.

The difficulty now is to create a range "consistent with more innovative products and smarter, more relevant to the roots of the brand," said Thierry Huon, an analyst at Exane-BNP Paribas no fax payday advance. Only problem, Renault will not have real news before Zoe Electrical and Clio 4, arriving in the second half of next year.And in the upscale, replacements of the Laguna and Espace will not come out until 2013-2014.

As acknowledged by Steven Norman, director of marketing at the recent meeting of the group, Renault has faced in recent years to two problems: a design that was too bland arbitrate potential buyers for other manufacturers and quality problems in the mid-2000s, which drove away some loyal customers. Fri Laurens den Acker, the new design director, is responsible for restoring the "seduction" to the brand.

The Chinese challenge

The group, which in February unveiled its new strategic plan with relative indifference because business, seeks a total of 3 million cars in 2013.The European market is sluggish, almost all the growth will occur outside the Old Continent, particularly in Brazil and Russia, which could become, as calculated by the group, his second and fourth largest market in this horizon. For now, Renault has the huge disadvantage of being absent from the Chinese market, the largest market in the world. Carlos Ghosn is planning an implementation of the Middle Kingdom between 2013 and 2016. Another challenge for Carlos Tavares.