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They buy a mood, an art of French living, "says Bernard Reybier, CEO at the head of this company of 200 employees who made 35 million euros in turnover for the year 2010-2011 which 44% internationally.

In Dubai, walkers who stroll along the Marina or in Zabeel Park, will again enjoy a French furniture, made by Sineu Graff. In forty years of experience, including ten years abroad, this Alsatian company now operates in over thirty countries worldwide. "This allows us to work for export, is a strong positioning, products and solutions with high added value," says Vincent Schaller, president of Sineu Graff.

The design is an asset for export

This enthusiasm is also explained by a Francophile historical know-how and prestige associated with the French furniture.

Their remedy for the debt crisis in the eurozone was expected. After donning their new clothes Nobel Prize in Economics in 2011, Americans Christopher Sims and Thomas Sargent have shot so the map of fiscal federalism. Historical precedent should serve as a model according to them: the union of the budgets of the thirteen founding states of the United States with the Constitution of 1787. Christopher Sims, then this is a "definite solution" with which "we were born." And Thomas Sargent called the euro area to design "a way of sharing the fiscal burden to link budgetary powers to the European Central Bank (ECB) and the lender of last resort". According to him, the outlook for the euro will remain "dark" if those links "also remain unclear."

Although the idea is not new, it has resurfaced thanks to the Greek crisis.On Wednesday, the political and business across the EU (including billionaire George Soros and Martti Ahtisaari, former Finnish Prime Minister) signed a platform calling the euro zone leaders to unite. Published by the Financial Times, the letter calls for the "establishment of a joint budget that would raise funds and to ensure fiscal discipline of the Member States." In this spirit, Jean-Claude Trichet, ECB president, has recently called Europe adopts "a federal Minister of Finance."

Judging "pragmatic" position of the two Nobel Jerome Creel, assistant director of studies at the OFCE and professor at the ESCP Europe also believes that this idea of ​​fiscal federalism is "a must". Clearly, the euro area is expected to have a real "federal budget" next national budget.This would better "regulate the activity" of the Union through a "permanent reciprocity 'in bilateral relations between the world's strongest and weakest, especially in times of economic shocks. "When people buy Mercedes, Greeks contribute to German growth, so it is normal to help him when needed," the economist is an example.

"The euro has to walk on two legs"

The Assistance Fund of the euro area (EFSF), which has helped Portugal and Ireland, is seen by Jerome Creel as a draft of a further fiscal federalism low fee pay day loans. According to him, it applies to the current debate on the issue of Eurobonds ("that could eventually finance a large common budget"), like that, embryonic and far from unanimous, the tax on financial transactions.

To be effective advocates Jérôme Creel, the introduction of the federal budget will not happen without the ECB. "The euro must be able to walk on two legs: a lever for its independent ECB monetary and fiscal policy coordination," he says. Yet the institution of Frankfurt has so far only goal against inflation (unlike the U.S. Federal Reserve). Result, coordination and relations between the ECB and the U.S. are regularly strained: the economist recalled that in June 2008, including Nicolas Sarkozy had won against the institution in Frankfurt, who had decided to increase its key rate Director of 4% to 4.25% after soaring commodity prices.The ECB "should ask the question of economic growth" and "not just for inflation," lambasted the head of state, fearing a rise of the euro against the dollar penalizes exports of the area euro. Six months later, contagion from the financial crisis of U.S. forces in the Old Continent, the ECB has revised its rates three times down, up 0.75% at end 2008.

Problem: the establishment of a true federal budget involves a "significant transfer of sovereignty to the European" art Alexandre Delaigue, an economist blogger Econoclaste. "For this to work, it would require that Brussels can closely monitor and control deficits anything related to the competitiveness of the members, he insists.With the budget, it directly affects people's lives. "Collage, he cites the" retirement age, the conditions for unemployment insurance, "which would then indirectly controlled by the lever via Brussels budget. In addition, he said the United States, "the union budget could be made after the Civil War …"

Driving without insurance is not a "marginal phenomenon." Between 370,000 and 740,000 vehicles traveling in France are not insured, according to a report submitted to the Bercy Guarantee Fund compulsory insurance (FGAO), which compensates victims of road accidents when the person is not identified or assured. This represents 1-2% of the total circulation. "Signing a contract of insurance is the only approach someone who does not normally allowed to drive can not do," said François Werner, CEO of FGAO. Indeed, it is possible in France to buy and register a car without a permit, or else to borrow the car of a friend.

For several years, the trend is upward. Road Safety has noted, between 1999 and 2009, a 50% increase in the number of uninsured vehicles responsible for fatal accidents."This practice is approximately 78 million euros each year," said Francois Werner. "The burden falls on the insured who finance the fund with a contribution of 1.2% levied on insurance premiums, or about 2 euros per contract."

Device control incompletD'après the report, which aimed to establish a diagnosis on the degradation of Finance Guarantee Fund, 60% of the uninsured are between 18 and 35. Francois Werner are two categories of drivers are driving without insurance. The "sloppy" on the one hand, that knowingly or not missed steps to ensure their car. They have, for example, not paid their premiums or said buying a new vehicle. "The anti-social and dangerous" on the other hand, are those drivers who simply should not drive. These are people who have never had a license or whose license has been removed for serious and recurrent.In 40% of cases, the vehicles are not insured because of non-payment of premium, says the FGAO. Finally, two-wheelers are over-represented (5.1% of uninsured mopeds and motorcycles 3.1%).

"Very few drivers are aware of the risks they face while driving without insurance," says François Werner, pointing to "an almost non-existent awareness" and offers an auto insurance inadequate personal loans for people with bad credit. "Prices remain inaccessible to some audiences," especially young people. Finally, the Director General of FGAO believes that the repression of the phenomenon is "scattered and based on unreliable information." To overcome this weakness, the Guarantee Fund calls for the creation of a "central repository of files provided," he would manage.

This tool, already in place in several European countries, including Spain, Italy and the UK, would be powered by the file registrations (registration cards) and statements of insurance companies and brokers. A huge database which, in the overlapping information, detect uninsured vehicles without waiting for the fraud was discovered during a traffic stop or accident.

A tool "win-win"

This project could still face the fears of motorists on their privacy. The Director General of FGAO therefore emphasizes the fact that this mega-file does not include "any personal data" and would not be "marketable". It is hoped that consultation with stakeholders – insurers, consumer groups and governments – will start soon in order to establish the terms of this file.If this proposal were adopted, it would take about three years to implement.

For François Werner, the device is a win-win. "A 50% decrease in the number of uninsured vehicles could eventually provide the Fund a saving of 40 million euros. Above all, this central repository would be a valuable tool to prevent tragedies road, it would identify some reckless drivers and put them out of harm's way.. "

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In this eventful weekend, the CAC 40 is expected to rebound on Friday. The benchmark index of the Paris Stock Exchange is expected up 1.5% as planned, after a tumble 5.25% on Thursday at 2781.68 points. Mobilization and call for unity of the G20 (which is to meet at 14 am today) should reassure markets. While Friday morning, Asian stock markets were still sharply lower.

To deal with the stock market crash, the finance ministers and central bankers of the twenty first world economies have pledged to provide "a strong and coordinated international response" to the crisis at a meeting in Washington. In a joint statement, they agreed to ensure that "banks have adequate capital," after the plunge in recent days of European banking stocks, undermined by fears of debt crisis in the euro area .In fire, central banks have promised to make "the necessary liquidity" to financial institutions.

In addition, large emerging group of Brics Thursday said they were "determined to accelerate structural reforms to sustain strong growth" in a joint statement after a meeting in Washington.Brazil, Russia, India, China and South Africa are therefore considering "if necessary, to provide support through the IMF or other international financial institutions, to address the current challenges to the stability financial crisis, according to the circumstances of each country. "

Meanwhile, in response to a request by the G20 in September addressed to Nicolas Sarkozy, the euro zone countries have pledged to implement "necessary measures to increase the flexibility of the European Financial Stability Fund (EFSF)" to prevent contagion from the crisis in Greece. Yesterday, the possibility of a defect in Athens, though long ruled by EU leaders, was raised by Klaas Knot, Member of the Board of Governors of the European Central Bank (ECB). "This is one of the scenarios," he told the Dutch newspaper Het Financieele Dagblad.He added having "long been convinced that the collapse was not inevitable. But the news from Athens, at times, are not encouraging. "

The specter of a recession is not écartéToutefois, the specter of a global recession has not yet ruled out after the ads pessimistic U.S. Federal Reserve (Fed), which held that the U.S. economic recovery was "slow "and threatened by" high risk ". Wednesday she has decided to sell by the end of June 2012 for $ 400 billion of treasury bills and to purchase for the same amount with a longer maturity paperless payday loans. But the fact that it favors measures to monetary easing, a depressed market on Thursday, who sees as a sign of impotence.

On the macroeconomic front, France, the monthly business survey by INSEE household, industrial, construction, retail trade, car repairs and services for the month of September include expected. And the index of business climate and economic downturn for the same period.

On the foreign exchange market, the euro appears in small increase compared to the U.S. dollar: it rose on Friday morning from 0.42% to 1.351 dollar. Oil prices also went up, investors sniffing deals after the significant losses suffered by the crude in recent days.Within the scope of a tumble of more than $ 5 Thursday, a barrel of "light sweet crude" for delivery in November clinching 53 cents in early electronic trading at 81.04 dollars, a barrel of Brent North Sea crude for November delivery gained 71 cents to 106.20 dollars. "Oil rises due to bargain hunting and redemptions of coverage after several sessions of decline," said Ker Chung Yang, analyst at commodity Phillip Futures in Singapore.

Values ​​to follow

• Banks

The European Banking Authority (EBA) said Thursday there were no plans to force a number of European banks to raise capital more quickly than expected and that the original schedule established at the time of stress tests was valid.According to information published by the Financial Times, European leaders would be willing to accelerate plans to recapitalize banks 16 which narrowly failed to stress test this summer.

• GDF-Suez

There will be no increase in gas prices for individuals to October 1 but enterprises will experience a rate increase of 4.9%, announced Thursday a spokesman for the French Ministry of Industry and the Energy.

• EADS

Airbus, a subsidiary of the European giant, is ready to help customers who are in need of funding due to the debt crisis in Europe and expects a good year in 2011 despite the crisis, said its president Thomas Enders in our columns.

• Groupama

Under the threat of lowering its rating by Standard & Poor's, the company says it wants to save 300 million euros over 2012-2013, we read in Les Echos.

• Technicolor

The group said confirming its forecast for fiscal 2011 the group announced Thursday night, after falling nearly 15% of its share price. It also confirms the intention of France Telecom to give up his development project with a group of next-generation decoder.

While the price war is raging in the mobile, the controversy swells at the end of unlimited Internet packages, the operators challenge the tender on licensing 4G, Eric Besson, Minister of Industry, responds to Figaro on all issues and criticizing the socialist project on digital.

LE FIGARO. – The bidding on licenses 4G is attacked. Will you give up?

Eric Besson. – The State Council will vote Wednesday. Expect. But thanks to this call for nominations, France will be part of the forefront of the mobile broadband Internet. The government is selling rare frequency of the highest quality, which all countries say they are strategic. We do this with the twin goals of coverage and stimulating competition, the benefit of consumers. Traders feared that a monopoly or duopoly is not recreated.But this call for applications is the first to include criteria as pro-competitive: the creation of four lots so that all current operators can expect to find their place, creating a criterion favoring offers to host virtual operators. We have gone as far as possible to encourage competition. But we also need strong operators, able to achieve very significant investment for years to come, both for the deployment of mobile broadband as that of the optical fiber.

How will you deal with interference of DTT by 4G?

As has always been the case in all countries of the world, a trader who buys frequencies is liable for any interference that they can generate. We assess that risk to less than 2% of households.To facilitate the processing of any such interference, the government will establish a single telephone number, with a small call center, so that individuals can report any such interference on their TV and get the linkage with operator responsible. This device will be funded by all operators at a rate of 2 million euros per year for five years.

You advocate for changing the standard of TNT. Chains bonus going to be frozen, and consumers will they have to buy a TV?

I am not campaigning for anything, and there will be no change in standard of TNT in the coming years. The French continue to receive 19 free channels and 10 pay channels of TNT, with no changes.What we're talking about is the next step, and new services to be launched in the coming years: new TV channels, personal mobile TV, 3D TV … The question is whether these new services will use the older DVB-T or the new DVB-T2 which allows to get 70% extra services. Chains on bonus, not the government that calls into question, but the European Commission, which initiated proceedings bad credit payday advance. It would be irresponsible to issue permits for them to be canceled two years later, and that the state is then ordered to pay $ 800 million to 1 billion euros in compensation.Let the president of the CSA put its proposal and the prime minister officiate.

Packages Unlimited Internet at home are at risk?

The unlimited plans are at the heart of the development of the digital economy and are not threatened, quite the contrary. New unlimited call plans appear almost every week. Some operators have started to consider to better segment their offer, which does by no means the end of the unlimited. With the development of very high speed, there will be even more unlimited in the months and years to come.

How do you protect consumers?

We have set up with the social tariff Frédéric Lefebvre mobile phone, which allows 40 minutes to communicate and send 40 SMS for less than 10 euros per month.We will implement in the coming days the social tariff of the Internet, or 20 euros per month for telephone and broadband Internet, plus 3 euros per month for a box. We will sign an initial agreement on September 13. The order that I issued on August 26 also includes important measures as the establishment of an impartial mediator to each operator, the requirement to obtain consent from consumers for the automatic sending of commercial messages or for the establishment of witnesses navigation.

What are the issues you organize inter-ministerial seminar on October 21?

This is progress in the implementation of the declaration of Deauville.Networks (both funding and security), protection of personal data and the fight against the digital divide will be on the agenda.

What do you think of socialist proposals on digital?

The project of the PS is archaic. It is based on a tax Internet access, known as "socially progressive". Internet access will be paid based on their income! The PS also wants to abolish Hadopi and create a global license. This proposal has been accepted anywhere in the world. This would be the end of copyright in the land of the cultural exception! The PS also provides for the creation of a single public operator for the deployment of high-speed fixed and mobile. He still has not understood that the introduction of competition was the key factor in broadband deployment and growth of the digital economy.

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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.

In the wake of a decisive EU summit on the future of the euro area, the Paris market continues its march forward again on Friday, relieved by the solutions provided by the 17 member countries of the euro area to the Greek fire. A mid-term, the benchmark index in Paris frankly advance of 1.08% to 3857.94 points. Yesterday, the CAC 40 1.66% has already been awarded, going above the bar of 3800 points (3816.75 points), and welcoming the draft agreement the EU summit in Brussels which includes a longer the duration of loans in the euro area in need.The countries of the region have also yesterday on the table a new plan to help nearly 160 billion euros to save Greece and prevent contagion from the debt crisis, but at the risk of causing a default the country.

These extraordinary measures were immediately relieved markets, notably in Paris or the Paris index had won more than 9% since the beginning of July. The agreement on debt relief, Greek, amounting to 350 billion euros at present, is still today applauded by investors, as well as the involvement of private banks in the device, even if the modalities of this participation to be defined.

On other European markets, the relief is essential.In London, the FTSE-100 was up 1.10% to 5964.57 points while in Frankfurt the DAX index itself to a more timid step forward from 0.64% in 7336 , 51 points.

Japanese support

The announcement Friday by Yoshihiko Noda of possible support from Japan also supports the upward trend this morning. The Japanese Finance Minister has in fact said on Friday that his country was ready to buy more bonds from the European Financial Stability (EFSF) if necessary. Japan has invested some 2.5 billion euros in the first three issues launched by the Fund since January 2011, to help Ireland and Portugal.The minister said Japan is ready to continue "at the same rate, if it can help stabilize the economies of the European Union."

This global expansion of the Greek fire, which had once benefited the euro yesterday, has not had any lasting effect on the foreign exchange market. At mid session on European markets, the euro was worth 1.4412 dollars, against 1.4417 dollars on Thursday night. In the wake of the announcement of the plan, the euro reached a peak Thursday at 1.4443 dollar. In terms of oil, oil prices start rising, supported by a European, but also by the announcement of the International Atomic Energy Agency (IEA), which has no plans to release a reserve again strategic. In morning trading, a barrel of "light sweet crude" took 28 cents to 99.41 dollars, after crossing at the meeting yesterday the 100 dollars.That of Brent North Sea took 23 cents to 117.74 dollars.

Macroeconomic side, some important indicators are expected on Friday. Orders to industry have increased more than expected, however, in May in the euro area, show the figures by Eurostat Friday. New orders rose 3.6% from one month to another in the 17 countries using the euro and 15.5% year on year. This morning, INSEE reported a sharp deterioration in the morale of French industry in July, the index fell from 110 to 105 a month. This announcement has not scared investors, the index remains above its long-term average (100 points), in which it had sunk in 2008 with the crisis do not exceed once again that the end of 2010 . Across the Atlantic, no major indicator is expected.

As for values.

In the forefront of best performance, the banking sector is surrounded by this Friday, the day after the adoption of the European plan for Greece. Crédit Agricole (3.42% to 9.62 euros), Société Générale (2.24% to 39.08 euros) and BNP Paribas (2.43% to 50.11 euros) in net rise. Axa (1.56% to 14.64 euros) and Natixis (1.60% to 3.41 euros) are also well oriented. 40 CAC Hors, Dexia wins 4.71%, to 2.15 euros.

The rating agency Standard and Poor's raised the rating a notch French TV group TF1 (0.99% to 12.80 euros), to BBB +, saying that despite the increase in sales shy , cost savings were being lead to greater profitability.

Accor (3.71% to 31.76 euros). The hotel group confirmed to be entered into exclusive negotiations with the catering giant Sodexo to give him the caterer Lenôtre.An enterprise value of € 75 million was used for the project.

Lafarge (2.11% to 40.58 euros). The French cement plaster will sell its operations in Australia in the group of German Knauf construction materials for 120 million euros. The operation, which will reduce its debt, expected to close before the end of the third quarter of 2011.

Sequana (-1.62% to 9.60 euros). The group announced half-year net income almost sixfold, to 35 million euros, against 6 million a year ago, and a turnover of 2 billion euros (+1.3% yoy pro forma), supported by higher selling prices last year. However, management has lowered its target EBITDA of "higher" to "close" to that of 2010.

Groupe Eurotunnel (-0.42% to 7.60 euros).The group has published interim accounts showing a net profit of 2 million euros over the first six months of the year against a loss a year earlier. Turnover increased 22% to 396 million euros. Management expects for 2011 an increase in EBITDA.

Air France-KLM (2.84% to 9.92 euros). The order of a hundred long-haul being prepared by the Franco-Dutch company will be shared equally between Airbus (EADS) and Boeing, La Tribune reported Friday. According to the newspaper, the board of directors of the Franco-Dutch company will review the draft July 27, before an announcement expected in September.

Schneider Electric (2.22% to 108.30 euros) announced a partnership with NVC Lighting, a small Chinese company which will take 9.2% of the capital, to strengthen in the Chinese cities of small size.Specialist solutions energy management also announced two acquisitions: that of certain assets in China Chongqing Enlin Electric, and of the Brazilian Steck, specializing in low voltage products.

France Telecom (1.40% to 14.47 euros). Orange has signed Thursday with Free (Iliad: + 1.46%, to 91.45 euros) an agreement to co-finance the fiber-optic networks to the Internet at very high speed, in about sixty cities located in sparsely populated areas and announced in active discussions with other operators.

Pierre & Vacances (stable at 58 euros). The group announced that its summer bookings for the quarter were ahead of last year on all its destinations, including the sea in France.

Bongrain (1.29%, to 65 euros).The food group has reported an increase of 13.2% of its turnover in the first half, but warned that the sharp rise of raw materials created tensions on consumption and margins.

Somfy (-0.01 to 207.98 euros). The roller shutters specialist reported Thursday a turnover up 13.9% to 501.2 million in the first half, up 8.7% on a comparable basis. The strong demand in Germany and France ontéclipsé Asia the impact of the disaster in Japan, Europe and North and South that of British and Greek economic difficulties.

Vivalis (4.50% to 7.89 euros). The biopharmaceutical company, announced in the first half, a product of the ordinary activities of € 4.7 million, up 165%, and consolidated cash of 36.0 million at June 30, 2011.

Eight European banks have failed the tests of resistance imposed on 91 banks on the continent to test their strength in the event of economic shocks, said Friday in a statement the EBA (EBA) responsible for these tests.

ABB said that the banks needed a total of 2.5 billion euros to strengthen. She did not initially detail the name or nationality of the banks that failed the exam, each institution concerned and the national regulators with priority to communicate about it.

According to announcements made simultaneously in each country by banks and regulators, five Spanish banks and a German bank failed.Two banks failed still missing the call, the regulators have not yet communicated all.

ABB said that the results of only 90 banks had finally been taken into account, without further explanation.

All Italian banks, French, Portuguese, Irish and British passed the test.

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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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.