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Public debt has continued to become heavy in the first quarter. It was late March, to 1.5355 trillion euros, representing 80.3% of gross domestic product (GDP), against approximately 78% in late 2009, according to Insee. This represents an increase of 46.5 billion compared to December.

The government debt and social security have contributed to this increase, details the National Institute of Statistics. "The contribution of the State debt rose by 43.4 billion

in the first quarter, it is essential for its long-term marketable debt, "said INSEE. Clearly, these are the bonds issued to finance the state debt have widened.

The debt of Social Security, it has increased by 8.6 billion.In contrast, "local government is désendettent (- 2.8 billion) at a rate comparable to the first quarters of previous years," notes the INSEE.

The fault in the recovery plan

Bercy said in a statement that "increasing the debt on the recent past is linked to political recovery after the crisis." The government now wants to reverse the trend. The government should submit a detailed savings plan of 10 billion euros at the Council of Ministers on Wednesday.

François Fillon had lifted one end of the sail June 12 in terms of deficit reduction. It is to find 100 billion in savings over three years to reduce the deficit to 3% of GDP, against 7.5% in 2009. But the VAT increase to 5.5% on food, mentioned by the Minister of Budget Sunday, seems to have been abandoned.

Monday, Le Monde has turned a page of his story in a calm atmosphere. Once is not custom. Upon completion of the supervisory boards of the World, offers the trio Pierre Berge, Xavier Niel and Matthew Pigasse ("BNP") received 11 votes. The other nine votes abstained. Employee representatives had 9 votes, and Louis Schweitzer, Chairman of the Supervisory Board, which made the difference in making its voice and that entrusted to him by Claude Perdriel, boss Le Nouvel Observateur and unsuccessful candidate for the resumption of the World. Louis Schweitzer has done everything to ensure that The World is lost in a new crisis between the employees and field representatives (Lagardère and Prisa, La Stampa, Pierre Lescure, Jean-Louis Beffa …).

Over the weekend, in the daily columns, he emphasized the seriousness of the financial situation and warned: "I hope there will be convergence." At the end of the supervisory board, Gilles Van Kote The president of the Society of Editors (RS) welcomed "the gesture of a great lord of Claude Perdriel, which withdrew its offer and voted for its competitors. On Monday morning, Claude Perdriel and Orange announced they were withdrawing their offer, drawing the lesson of the plebiscite of employees of the World for the trio "BNP". Indeed, on Friday, the different societies of staff (Le Monde, Le Monde Interactif, Telerama, International Mail, employees, managers …) have made an overwhelming majority (between 80% and 91% for the Society of Editors World) for the trio Pierre Berge, Xavier Niel and Matthew Pigasse. After the vote, will open exclusive talks with the trio BNP.Beforehand, prospective buyers are, as they had committed 10 million euro move before July 5 to cross to Le Monde's financial deadlines July 10 and have enough money to take all summer . "Then, in late July or early September a new supervisory board will endorse the negotiations and the deal should be finalized in late September or early October," said Gilles Van Kote.

Negotiations with Lagardère and Prisa

In total, Pierre Berge, Xavier Niel and Matthew Pigasse provide 110 million euros. Therefore, they will control 64.65% of capital. For the first time in the history of the world, workers will abandon the majority stake and control group. The trio "BNP" had taken the measure of the importance of this decision. That is why he insisted on preserving the editorial independence of publications group.Better, it should make a gesture in their favor. Pierre Berge has promised to create a foundation with 10 million euros destined to gradually increase the share of employees to 33%.

With other shareholders, Lagardère and Prisa, also diluted, dialogue should engage. Following the recapitalization, Lagardere will have only 5.86% of capital, and Prisa 5.1%. Lagardère cons grin and heart. In the vote, he refrained. "This is a position consistent with what we've always said. We did not oppose the rescue of the World while taking care to preserve our interests, "responded Khiroun Ramzy, the spokesman of the group. However, Lagardere clearly leaning in favor of the trio Perdriel, Prisa, Orange, with whom he had begun negotiations for the acquisition of its stake in the holding company and Le Monde Interactif. In total, he was to receive nearly 40 million euros.The trio "BNP", everything remains to be done. "The investors must now specify their intentions. Everything depends on the proposals they will make us, "adds the group. However, the trio "BNP" remained unclear. If he says he must "return to the activity in the digital world", it does not specify the amount he is prepared to pay to redeem the 34% of Lagardère in Le Monde Interactif.

The other loser is the media giant Prisa Spanish. The group led by Juan Luis Cebrian came late in the battle alongside Claude Perdriel and Orange. He has to defend its interests in the holding head. But his stance in favor of an issue of the daily morning have undermined his bid.

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The Paris Bourse is expected to remain in the zone of turbulence through it since Tuesday. The CAC 40, after nine sessions of gains chained and won 10.5%, has now three sessions of decline, losing 4.8%. So since the beginning of the month, the benchmark index of the Paris took only 1.5% and rises to 3555 points.

Around 8:15 this Friday, the CAC 40 futures contracts still predicting an opening up about 0.3%, but the trend is weak.

In the same time, the euro appears stable at 1.2330 dollar after resuming colors Thursday as statistics mixed overseas sowed doubts about the strength of the recovery amércaine.

Overall, the atmosphere is tense markets. The Asian market on Friday morning, displays counters in the red. In France, unemployment had not risen so much since seven months.

The national accounts in the spotlight

In France, a quarter of an hour before the opening of trading, INSEE will release figures on national accounts in the country for the first quarter.

The United States, the third estimate of GDP is known to 14:30.

Pressure on prices in the telecoms

The portion of mobile technology fourth generation "LTE" should redistribute the cards in this highly competitive sector, but not enough to stem the pressure on the prices of telecom equipment, told Reuters the president of the Mobile Division Alcatel-Lucent, Wim Sweldens payday loan lenders.

GDF Suez, Total, EDF The gas rate increase of 4.7% from 1 July to 6.3 million customers in France said Thursday the Commission of Energy Regulation.

The EDF Group postpones decision to invest in an LNG terminal in Dunkirk (North), said Thursday a spokesman for the group. This terminal was supposed to compensate for some job losses related to the closure of the refinery from Total.

Computer services companies in the sector may react to quarterly results better than expected by Accenture announced Thursday evening. The group's net profit totaled $ 564 million (457 million euros), or $ 0.73 per share against 537 million ($ 0.68 per share) a year ago and $ 0.69 expected by Wall Street.

The French industrial group Alstom has unveiled Thursday at a U.S. plant turbines, especially for nuclear power generation, for which he has invested about 300 million dollars, according to a statement.

According to Le Figaro Latecoère the aerospace supplier will propose on Friday to its shareholders at a General Assembly, the free allocation of share purchase warrants (BSA) in 2012. It has thereby remove some 43 million euros.

At the 57th International Advertising Festival in Cannes, the technology giants like Microsoft, Yahoo and other Facebook invaded not only the Palais des Festivals, but also the Croisette. Advertisers would they more "masters of the world" of communication? "We have never been masters of communication," says David Jones, CEO of Worldwide and Havas chairman of Euro RSCG network in the world. "The most important actors in the communication, it is consumers. It is true that today we live in a digital revolution. Consumers never change and as new opportunities are created with social networks, mobile platforms … The presence of Microsoft or Yahoo! Reflects this revolution. But consumers are more important than software, technology or communication agencies.

Defending an agency model "integrated" by placing the "digital" in the heart of its agencies, Havas Group is concentrating its investments in digital broadcasting and production, particularly through the newly-Productions Havas. "These investments are essential. We're not a film industry of 30 seconds, we are now an industry of content. If we are sufficiently intelligent content, the audience will interact with the brand and, with a depth that we could not hope, fifteen years ago. Content is our future, "says David Jones emphasizes the trade is already a source of income for Havas and its subsidiary Euro RSCG. For nearly two years, the group has also put one foot in music with the creation of label The Hours."These are new business models and exciting content, we also operate with BETC Music," he says.

The test of 2nd quarter

"The winning of the budget digital IBM, being now the digital agency of Unilever in the world and with the Heineken and EDF contracts, we will exceed 20% of revenue from digital Havas Worldwide from this years, says its CEO. Here we record the strongest growth.

Despite a slight recovery in the advertising market in the first quarter, the boss of Havas Worldwide undertakes no obligation on optimistic forecasts for the rest of the year. "It's like asking me if England will win the World Cup! For now, we qualified and is progressing well … It's about the same thing with the economy and major advertisers.The real test is the 2nd quarter, "says the ad originally, in February, the Young One World, the first" Davos of youth. " After London, next event be held in Zurich until September 2011.

The Federal Reserve took action Wednesday in a hesitant economic recovery in the United States by renewing its commitment to keep rates unusually low for an extended period. The Fed funds rate has been maintained in a range from 0% to 0.25%, which it has not budged since December 2008.

In his statement issued after a two-day meeting, the central bank is lowering its assessment of the pace of recovery, revealing pockets of weakness. It also is cautious about the volatility of financial markets, given the debt crisis in Europe. But she still insists that the economy will emerge gradually from the worst recession it has seen in decades.

"The financial support under the overall economic growth, which mainly reflects what is happening abroad," the Fed said in its statement.

The Fed President Thomas Hoenig, Kansas City has expressed its disapproval for the fourth consecutive time, holding that the commitment of the Fed to keep rates ultra low long could perpetuate a cycle of alternating periods of high growth phases and depression.

Realtors Falters

The Fed also notes that the economic recovery is underway. But short of what she observed in April, when she said that the economy continued to strengthen.

The monetary authorities have also noted a slowdown became evident in real estate. In April, it was noted that one starts to straighten. On Wednesday, they simply say that these starts "remain at a depressed level. It is true that the indicators are really not good. On Wednesday, new home sales for May fell 32%.This unprecedented decline in new home sales in May reduced to little hopes of a speedy resumption of growth.

As for consumer spending, the central bank said they "are increasing but remain constrained by high unemployment, modest revenue growth and a decrease in the rich heritage." In April, the Fed had referred to an acceleration of these costs.

The Fed also notes a recent slowdown in inflation, citing a drop in prices of energy and other resources.

Most economists believe the next move on interest rates will be higher but some of them say the central bank should consider other ways to boost growth and credit. What must be added the problems of the debt in Europe and the employment indicators also disappointing.

It is ultimately the Bouygues group has been selected for the renovation, expansion and coverage of the forums Velodrome stadium in Marseille, which hosted several matches of the Euro Cup in 2016. Jean-Claude Gaudin, senator, mayor of Marseille, was announced yesterday with the presidents of the urban community of Marseille, the General Council and the region that will participate in financing this project.

So far we spoke of a shipyard between 120 million and 160 million euros, the project selected is $ 273 million. It is however more expensive than the one presented by Vinci, Bouygues competitor in this competition.Jean-Claude Gaudin is a "new Velodrome stadium for next fifty years" which will be built!

The Velodrome, the second stage of France in terms of capacity, will reach its tonnage from 57,000 to 67,000 seats and all the galleries will be covered. This coverage, which had not been made during the previous renovation of the stadium in 1998 for the World Cup, was claimed a hue and cry by the fans.

Municipal Stadium will

During the period of construction, scheduled to begin in summer 2011 for completion in summer 2014, the stadium will remain usable even if it could accommodate only 42,000 spectators, that is to say, the number of subscribers Olympique de Marseille.

Funding for the transaction will come to 50% by the City, the Metropolitan Regional Council and the General Council.The other half will be funded through a public-private partnership (PPP) of thirty-five years. A "naming" is planned for obvious reasons of profitability, even if Jean-Claude Gaudin does not fail to promise that the city will stage he would continue to be a public service and carrying the name Velodrome. Without doubt the trade name it is there next to it.

In addition, the sale by the City the right to build a hotel, shops, a museum of the OM will ensure 30 million financial returns.

The choice announced Monday must still pass the course the city council vote on July 12. In this context, Bouygues did not comment yesterday.

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In Asia, stock exchanges like the message of the Central Bank of China, who said she was "determined to continue the reform of the mechanism of the exchange rate of the renminbi (yuan's other name) to enhance flexibility . An advertisement for a symbolic opening week of the G20 summit in Toronto, so that international pressure was becoming increasingly urgent.Now, the road to separation of the link between the Chinese currency and the dollar began.

The People's Bank of China warned however that the adjustments would not do at once.

According to Wang Tao, an economist at UBS, "it is possible to arrive quickly enough to an appreciation (the yuan) 3 or 4% in the coming weeks." Mark Williams of Capital Economics expects more modest gains: of about 2% vis-à-vis the dollar by the end of the year.

A rising yuan would also give China greater purchasing power, which would be positive for world trade and especially for commodity exporters such as Australia, Brazil, Canada and New Zealand. China is the second largest oil consumer behind the United States.The country is also the largest consumer of iron ore, copper and aluminum.

The currency movement

By Monday morning, the Australian dollar has gained one cent to $ 0.88. He then returned to 0.8765 dollar when China has set its reference rate for the yuan.

The three-month copper on the London Metal Exchange gained 2.33% to 6,585 dollars per tonne.

A barrel of oil gained 1.35% to 78.22 dollars per barrel of light crude Texan.

Green Scholarships

In trading, the index rose on average by 3%, according to the S & P Asia 50 Index, which comprises the largest market capitalizations in the region no faxing payday loans.

In China, the Shanghai Stock Exchange recorded an increase of over 2% on Monday morning. In Hong Kong, the Hang Seng wins 2.6% to 20,806 points."The airlines, real estate or in metals are the most direct beneficiary of yuan appreciation," said Shen Jun, an analyst at Bank of China International.

In Japan, the Nikkei 225 wins 2.07% to 10,201 points by 6:45, while the Topix rose 1.87% to 901 points.

In Australia, the rise of the S & P/1SX 200 reached 1.22%, 4607 points.

China and Australia: EUR 7 billion contract

Australia and China on Monday signed several contracts worth 10 billion Australian dollars (7.1 billion €) after discussions between Prime Minister Kevin Rudd and Chinese Vice President Xi Jinping visits in the country.

The ten agreements, mainly in the field of mineral resources and energy, reflecting strong and growing cooperation between Canberra and its largest trading partner, largest consumer of mineral resources in Australia, Mr Rudd said in a statement.

Xi Jinping arrived here Saturday to Australia for a five-day visit during which the project should be tackled controversial Canberra tax on super profits of mining groups.

Beijing fears that the tax drives up the prices of raw materials which China is a big buyer.

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The French will they give a hard time in government? After the presentation of the draft pension reform by Labour Minister Eric Woerth, a survey of Le Parisien in France * Now provides an overview of their state of mind. In disagreement with the reform, of course, but with few illusions about a possible return back. The government has hinted it is true for several months that a reform of the pension system was inevitable, like the steps already taken in neighboring countries.

According to the poll published in the Thursday edition of Le Parisien, 60% of respondents said they in fact disagree with the proposed pension reform. A higher proportion of no surprise among supporters of the left (73%) than among supporters of right (24%).Traders, businessmen and artisans are also those who most support the reform, while workers and employees are the most heavily opposed.

Mobilization June 24

In total, 52% of respondents who consider the reform "unfair" and "not effective". Another aspect of the survey that could worry the government: they are 78% believed that the reform could generate important social movement. A concerted effort is already scheduled for June 24. It will "definitely strong, we do not fear," warned Eric Woerth Thursday morning on RTL. The unions, however, until Friday, when the project should be tabled several boards including the notice is required to reverse the project.

The government could include concessions on long careers and arduous.However, it should give way on the legal age of retirement, increased to 62 in 2018. Eric Woerth, Wednesday night on TF1, was very firm on this point: "We will not return to age-related measures because they are serious and socially acceptable," he warned. A delay on which the French did not have no illusions: they are 52% believed that the Socialist Party does not reintroduce the retirement at age 60, despite recent statements of Martine Aubry in this direction.

* Survey conducted by telephone, on a representative sample of 940 persons aged 18 and over, by the quota method.

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While the Paris index ended the session fifth consecutive increase, and finished with 3661 points on Tuesday night against 3380 points a week earlier, the CAC 40 does not seem to want to stop. At the opening Wednesday, the benchmark index of the Paris meeting starts up sharply from 0.72% to 3687 points.

In six sessions, the CAC 40 rose 9.1%.

Elsewhere in Europe, the counters are green as well: the DAX index of the Frankfurt Stock Exchange opened up 0.45% to 6203.01 points, the Footsie-100 from London to 0.56% in 5247 11 points.

Early this morning the Nikkei is ironed beyond the 10,000 points and by 1.8%. Same trend in U.S. markets, which closed Tuesday on a sustained growth over 2%.

In the first exchanges to 9:00, the euro is still evolving up 0.2%: $ 1.23 rating than he. Oil, he, trades at more than $ 77.The gold is worth more than 1233 dollars.

The large statistics of the day are American

From the macroeconomic side Wednesday in the euro area, 11 hours, the second estimate of inflation for the month of April will be unveiled.

In the U.S., housing starts, producer prices and industrial production for the month of May will be known between 14.30 and 15.15, before the opening of U.S. markets.Then, the traditional weekly crude inventories will be published.

Rodriguez's boss resigns after indictment

The specialist luxury yacht on Tuesday announced the resignation of its president, Alexander Rodriguez, indicted and jailed last week in a case of banditry, and substituting the group's founder, Gerard Rodriguez.

The scoring title, which had been suspended at the request of the company, will resume Wednesday.

Zodiac Aerospace: 1.83% to 44.7 eurosLe group, whose sales fell 7.6% during the first nine months of its fiscal year, said receiving encouraging signs of restarting the industry aeronautics in a context of more favorable exchange rate.The aerospace supplier confirms its annual targets.

In an interview with the Tribune, Zarrouati Olivier, CEO, says there is no plan to merge with another actor can French aviation capital and no operations are planned at this time with a group foreign

Distribution: showdown on judicial coffee pods Nestlé sued for infringing its competitor Sara Lee (Coffee House). According to information of Figaro, the casino dealer would also be covered by the complaint.Nestle, the world leader in food and owner of Nespresso, sued Friday in front of the Tribunal de Grande Instance of Paris the U.S. Sara Lee, which sells in France for use in coffee pods Nespresso machines under the brand Gold ( coffee house).

GDF Suez: -0.16% to 25.4 euros Tuesday, the group headed by Gerard Mestrallet did not hide his satisfaction at the announcement of the signing of a contract to build a gas power plant of a capacity of 1730 megawatts (MW) in Saudi Arabia. The operation is substantial. The future plant, which will be commissioned in late 2012, an output slightly above the EPR (1600 MW), for a price much lower: 2.1 billion dollars.

Suez Environnement: 1.47% to 14.5 euros The group announced Tuesday night that AA successfully placed a bond issue of 500 million euros over 12 years, due 2022 at a rate of 4.123%.

Ubisoft: 2.84% to 7.98 euros The company will offer four games straight out, November 4, the new gaming device from Microsoft, which will be followed by eight others currently in preparation, "said CEO Yves Guillemot to Echos.

Sanofi Aventis: -0.08% to 50.9 euros The French pharmaceutical group has signed an agreement to acquire Canadian independent group Canderm, a specialist in dermatology.This acquisition will allow Sanofi-Aventis to double its turnover in public health in Canada, according to a statement.

In addition, the company managed to obtain a refund of the medicine disorders dy heart rate, Multaq, 65%.

Dassault Aviation: 1.33% to 608 euros The Defence Minister Herve Morin said on France Info "fanciful" press reports that the modernization of combat aircraft Rafale required by the Emirates would buy 60 aircraft from four to millliards five euros of development costs, partly at the expense of France.

Ginger: +1.2% to 16.85 euros The Dutch Grontmij Ginger will buy at a price of 28.20 euros per share, creating the fourth largest European player in the field of consulting engineering, with a combined turnover 1.1 billion euros and 11,000 employees, both groups announced in a statement. The offer price values the company 120 million euros.

Surprising as it may seem, the purchasing power of French households has increased more during the recession of 2009 than during the previous year. Very specifically, the increase was 1.6% last year, against 0.4% in 2008, according to figures from INSEE. Unemployment forces, incomes have barely increased in 2009 (1%). But inflation has settled down, which has given fresh air to the household budget. With a decline in oil prices and food prices, prices of consumer spending fell 0.6% in 2009, when they rose 2.9% in 2008 payday loans.

Concerned by the crisis, the French preferred to save the additional resources, including by placing life insurance. The savings rate has reached 16.2% at end 2009. Consumption has it, plus a small 0.6%. The scrappage boosted purchases of cars (+8.3%).The French bought mass televisions, went to the movies more but have less clothes and bought train tickets and plane.