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If you want New York to live differently, then run to the Frieze Art Fair. Exciting and refreshing, this brand new contemporary art fair was modeled on its sister London that takes place in October, just before the FIAC in Paris, in Regent's Park fast payday loan no faxing. It really comes out of the box because it takes the visitor far north of Manhattan, on an unknown island, but accessible by ferry, bus or taxi.

Randall Island which hosts the Frieze Fair. Photo credits: FRIEZE ART FAIR NEW YORK

Elior not lose your appetite. Sales of the French group, number three European restaurants, jumped 10.4% during the year ended in late September, to 4.2 billion euros. The increase in trading profit was faster: + 14% to 254 million.

Bulimic, Elior completed in March fourteenth acquisition since leaving the Stock Exchange in 2006, swallowing Ansamble, based in Vannes, for an undisclosed sum. The group becomes co-leader, elbow to elbow with Sodexo, the catering in France, where he made last year 56% of its activity. Already number one in Spain, until its second market, Elior will become the leader in Italy with the acquisition of Gemeaz, which allows him to double its turnover. "We now have our three leading markets in Europe, and we can enter a new stage of our development," says Robert Zolade, chairman of the supervisory board and a 25% shareholder group.

The priority is to develop the catering concession (in airports, train stations, highways or parks …), which represented the third year of activity. Elior has won contracts Autogrill face of the Motorway of Poitou-Charentes (A10), one of the largest in France, and the Gare de Lyon in Paris. There he intends to set up signs and Costa Coffee Red Hippo, who will begin their free development. "We are the only operator present in both the catering and concession. We can install in the canteens of corners Paul, Exki and Bert's, "said Gilles Petit, the director general.

The sale of 75% held by Charterhouse easier

This is especially the United States that the group intends to develop its activity in concession. He has just picked up the management of its U.S. subsidiary Areas (600 million euros of turnover). "We now have a truly global hub catering concessions which will represent half of our business," says Gilles Petit, determined to win market share.

Elior is not abandoned, however, catering, more resistant to shocks in the economy. "In France we have a development potential in the areas of administration and education," says Robert Zolade. After winning the tender to manage the restoration of central Fleury-Merogis, Elior holds 20% market share of prisons in France.

For the current fiscal year, the group seeks organic growth of its business catering from 2 to 2.3%. For catering concession, "everything will be played this summer," says Gilles Petit.

Moreover, Elior has renegotiated the repayment of its debt (1.8 billion euros to 31 September), pushing 2013 to June 2017 the next major milestone. "We have no constraint in the implementation of our strategic plan," says Robert Zolade. This will allow the transition to English investment fund Charterhouse, a shareholder since 2006, to more easily find a possible buyer for its 75%.

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Condemned worldwide, the coup of Cristina Kirchner in Repsol has not affected the Argentine government. Quite the contrary. According to survey, 6 out of 10 Argentines approve the expropriation of the oil company Repsol by the government on April 16, the operation was brutal.

To believe the latest details, disclosed by the press, President Cristina Kirchner had not finished his speech on Repsol, broadcast live on television that a delegation led by Minister of Planning Julio De Vido and vice Minister of Economy Axel Kicillof suddenly landed at the head of YPF in Puerto Madero, the business district of the capital.

Argentine officials have scarcely left time for the Spanish leaders in shock, to take their belongings and leave. "They have not even had time to finish their lunch!" Says an industry leader offended. Some company executives subsequently undergo intense interrogation by the police.

While Spain, Europe and the U.S. protest against the nationalization of another age, questions remain: how did we get here? Why the expropriation?

In Argentina, the wild rumors circulating in the oil industry. Some saying it would be the fear that the Chinese buy YPF (groups Sinopec and CNOOC are already present in Argentina) and Argentina over the oil that would have prompted the government to act, with the blessing of the United States.

Seriously, Repsol, we are persuaded that the discovery of huge deposits of oil and gas shale Vaca Muerta, in the province of Neuquen (South West) was the trigger operations. This discovery, announced in November by the CEO of Repsol, could propel Argentina's third largest reserves of oil shale, behind China and the United States.

Resources would be estimated at 22.8 billion barrels. What the future of Argentines, although this scenario not totally convinced the experts. "The existence of these deposits has been known since 1984! The only difference is that today the technology exists to exploit them, but it takes a lot of capital that the government alone is not able to provide, "said oil consultant Eduardo Barreiro.

Energy deficit

Another scenario, more credible reports of negotiations for several months with the Spanish government to finance part of the country's fuel bill, up 110% in 2011 to 7 billion euros instant credit report. For the first time in years, the Argentine energy balance is in deficit of 2.27 billion euros, beating down the accounts of the nation.

In Argentina, more than elsewhere, the external deficit is problematic as it is to be financed without recourse to foreign capital, the debt markets are closed to the country since its bankruptcy in 2001. Accusing Spaniards of being responsible for this deficit, for not having enough invested in oil production, the Argentine government did not hesitate to ask Repsol to use its profits to finance energy imports rather than repatriate dividends in Europe.

Already forced the government to sell its oil at half price in the Argentine market – 42 dollars a barrel – Repsol would have raised an objection of inadmissibility to this formal request. "Repsol YPF, which held 60% of deposits in the country rejected the government's terms, and it has broken down the bridges," says the lawyer for a U.S. oil company established in the country.

According to former Secretary of Energy Emilio Apud, the takeover of YPF may represent "a very good deal for the government who will have access to a" cash "equivalent to more than 11 billion euros in turnover business year, "to finance its oil imports.

Buenos Aires seems to also want to seek help from new investors to boost oil production nationally. Pending the adoption of the bill of expropriation by Congress, the Planning Minister Julio de Vido, interim head of YPF, met executives of Conoco Phillips, Chevron and Exxon. He met with Vice President of Total America, the second largest gas producer in Argentina. On leaving the meeting, he announced an agreement on an increase in production on two million cubic meters in the deposits of Neuquen (South West). Evidence that the government does not get angry with everyone.

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It is a return that is breathtaking professionals malls. Two years ago, Simon Properties, the U.S. leader "malls", was sold to Unibail-Rodamco seven assets in Poland and France for 715 million euros. Mid-January, the American land, listed since 1993, sold to Immochan the 49% stake in a joint venture operator of shopping centers in Italy. After these operations, it had more activity on the Old Continent. Withdrawal then analyzed as a movement of distrust of Europe, a territory considered unattractive, with the sovereign debt crisis and a shaky consumer.

Surprise return to Europe

Thursday, Simon has taken everyone by announcing in reverse repurchase, to 1.5 billion euros, 28.7% of Klépierre to BNP Paribas, which will retain 22.2% for at least a year. A real strategic move, given the size of Klépierre: present in thirteen European countries with 271 units, the French property cashed 945 million in rent in 2011. "We are the largest European donor of H & M, McDonald's or Sephora," illustrates Laurent Morel, the chief executive of Klépierre.

Simon does not mention the real reasons for his return to Europe. "The euro-dollar exchange with a strong U.S. currency had to play because it made the operation less expensive for Simon," says one industry expert. Laurent Morel another analysis: "If Simon did all these movements is that he certainly believes that investment in our society is much more than its previous operations in Europe." In any case, the king of American shopping centers, became the first shareholder of Klépierre, do not plan to make up the numbers. Now it is his boss, David Simon, who will chair the supervisory board of the French property. The management team of Klépierre, it remains in place. But in a year when BNP Paribas may sell its 22%, the financial analysis firm Aurel BGC believes that Simon will launch a takeover bid.

The French property will therefore have to deal with this actor unknown to the public but is very heavy. Last year, for example, Simon achieved a turnover of 4.3 billion dollars (3.2 billion) against 1.26 billion euros just for Unibail, the first European property of commercial real estate. Same imbalance in market capitalization: Simon weighs $ 41 billion, against 13.5 billion for the French leader. Is that the small American company created in the early 1960s by two brothers, Melvin and Herbert Simon, to operate a commercial center in Indianapolis, has come a long way. By dint of takeovers and mergers, it became an operator who owns nearly 330 shopping centers, located in the vast majority in the U.S.. With a few locations in Asia, including Japan.

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The government fiercely defends his proposed "employment tax"-a reduction in labor costs funded by an increase in VAT and the CSG on capital income. Supporting figures, experts Bercy want to show the economic virtues of the device, introduced Wednesday in the Cabinet, on behalf of "competitiveness" of France. Competitiveness that the report of the Court of Auditors, presented Wednesday, deemed necessary to strengthen.

As announced by the Head of State, effective October 1, work will never be the main source of funding for family policy. Reform is to reduce employer costs by 13.2 billion full-year (3.6 billion by 2012). The family contributions paid by employers will be removed for salaries between 1.6 and 2.1 SMIC (2290 euros net), then eased on a sliding scale up to 2.4 SMIC (2620 euros net). This rate was calculated Bercy, a gain of 40 euros per month for a minimum wage, 120 euros to 159 euros and 1.6 SMIC 2.1 for minimum wage. In all, according to the ministry, 14 million employees are affected by the measure.

International competition

This will benefit "to the sectors most exposed to international competition (80% of manufacturing jobs and 97% of jobs in agriculture are concerned)," argues the report of the Cabinet. The Department of Finance estimates that the reform will result in the creation of 100,000 jobs in 3 years. The Executive held Wednesday to register false face of opposition, who had spoken of a "gift to the banks." "This is nonsense! Wages in finance are higher than our target, "argued a ministerial adviser. Which also indicated that the device would benefit "proportionately" more for SMEs than for large groups, since they will reap 47% of its fruit, although they represent 40% of payroll in France.

To offset the cost, the government intends to increase from 19.6% to 21.2% the standard rate of VAT, also on 1 October. This measure will yield € 10.6 billion per year in stride. Given the controversy, the government ensures that it will not make up prices. First, he argues, because 60% of household consumption are exempt from VAT or enjoy a reduced rate will remain unchanged. Of the remaining 40%, three quarters of the products are manufactured in France, their prices will not rise … as long as companies pass on the reduced charges. Only imported products subject to the VAT increase, that is to say 10% of household purchases, could therefore lead to higher prices, ensures Bercy, while betting that "strong competition" will limit the inflation .

To complete the financing of the reform, the general social contribution (CSG) on capital income will be increased by two points, from 8.2% to 10.2%.

Still not convinced, the PS again spoke Wednesday of an economic mistake "that will weaken consumption and will therefore result in growth and employment". Francois Hollande warned that he would cancel the measure if they win.

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By organizing a eG8 the eve of the G8 in Deauville last May, Nicolas Sarkozy has brought the Internet for the first time, among the concerns of leaders. In line with their statement. Now we must find the tools for an Internet "free, open to all." To do this, Eric Besson, Minister of Industry, Energy and Digital Economy, today organized a seminar in Paris bringing together 13 Ministers of the Intergovernmental digital from around the world.

Innovation and Networks, protection of privacy, digital divide, security against cyber attacks are on the agenda of the conference New World 2.0. However, "there will be no statement after the conference, because there is already the declaration of Deauville, Le Figaro said Eric Besson. I wanted to spend New World 2.0 principles into action. It is time to materialize. "

Participants include, among others, Elliot Schrage, head of public policy for Facebook, David Drummond, Senior Vice President in charge of development of Google and Stéphane Richard, CEO of France Telecom, and Neelie Kroes, Vice President of the European Commission , in charge of the digital agenda. "This is progress as concretely as possible. These are issues that must be discussed together. New World 2.0 will bring together participants from 18 countries from five continents and all walks of life: ministers, large companies, startups, bloggers, venture capitalists, civil society, "explains Eric Besson cashadvance.

Value of content

The question remains networks at the heart of the debate. "There would not have the current development of the Internet without investing heavily in networks. In addition, we are only at the beginning of the increased use of networks.This raises the question of standards, quality of networks and investments, "says the minister. Before continuing, "On networks, we also work with the Americans. We do not want to trap them. What is the value of networks that are circulating over the contents. Our goal is to involve all major players. Thus we are able to be in the same round table number 2 on Google and the boss of France Telecom. "

If no resolution is produced at the end of this seminar, we must also rely on the goodwill of the United States, who will take over the presidency of the G8, to wedge the next go digital . "The event was to bring Internet to the agenda of the G8. And the highlight today is to bring together so many Internet stakeholders to implement together the principles of Deauville, "said Eric Besson.

The salvation of the euro area could come from China. Forced to borrow at prohibitive rates Monday morning, Rome had in fact asked Beijing to make significant repurchases of its sovereign debt, reports the Financial Times. A member of the Italian government confirmed on Monday the existence of discussions with the Middle Kingdom on potential investments in Beijing in the third largest economy in the euro area. The latter emphasizes, however, that the purchase of debt as of the Italian state was not central to the negotiations which took place several weeks ago, the agency Bloomberg.

The Financial Times for its part indicated that Lou Jiwei, the chairman of China Investment Corp (CIC), accompanied by a delegation, arrived in Rome last week to meet with Finance Minister Giulio Tremonti, and officials the Cassa despositi e Prestiti.

Relief markets

In any case, the information had an immediate impact on equity markets and bonds. The news triggered a rapid rise of U.S. indexes, which ended the session up when they were, like all European markets, a sharp decline shortly before the information.L all the indices of world is indeed suspended at the least information related to the status of sovereign debt in the euro area. In fact, the fear of contagion shook the Greek market.

In addition, the bond market has also relaxed.Good news for countries forced to place their debt securities, especially Italy. Interest rates have soared Monday in an issuance of public debt in Italy. Rome has indeed placed a total of 11.5 billion euros of shares, including 7.5 billion of bonds a year at a rate of 4.153% against 2.959% in the previous similar exercise conducted on August 10.

Foreign exchange markets also reacted. The information has strengthened the euro, trading at 1.3678 dollar this morning.

China has pledged to support the euro area

The assumption of support from China bound for the euro area is particularly taken seriously by the markets as the Central Bank of China recently said it was ready to support countries in difficulty to repay their debt.

Moreover, China has already come to the rescue of countries in the euro area in difficulties in recent months.In late May, Beijing had expressed its intention to purchase debt securities issued by the European Stability for Portugal. In January, China had purchased European titles for bail Ireland. And from the beginning of the crisis, China had come to the aid of Europe's sick of his debts. Earlier this year, the country had bought the Spanish government bonds for a hundred million. The Middle Kingdom is also committed to acquire Greek bonds

By helping the EU now, China is diversifying its investments in debt securities. In addition, the country is gaining leeway in future negotiations.

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LE FIGARO. – Economic activity appears to be a brake brutal. How do you explain it?

Laurence Parisot. – The slowdown is due to meet two sets of causes: the United States, an economic and political situation that was deteriorating, and in Europe, the States that crossed the red line in terms of debt. Once you overcome these difficulties, we find a strong growth and job creation but do not mistake in the analysis of what we experienced this summer. The situation was tense when China began to lecture the U.S. on their debt. The Americans probably wanted then iron the mistigri to Europe. There has been a kind of psychological warfare and an attempt to destabilize the euro area. The markets have overreacted, being by nature very sensitive to rumors, even organized.The moral of the story is that we should not be naive and fall for the autodisqualification: if Europe were attacked, not because it is weak but because it is strong, and if it is envy, because it is enviable.

Who was behind this conspiracy?

I call it an "orchestration" overseas challenges of Europe. See the rumors about the French banks, which were released immediately when they were absolutely unfounded. Our banks are among the strongest in the world. Some of the U.S. media yet announced the death of a particular and even the end of the euro area.We went from attacks on Spain in attacks on Italy and then France, until rumors of degradation of Germany last week! When American publications widely read by investors and financial analysts on false ads headlined drama, questions arise.

The accumulation of debts of the States, however, is a reality …

Certainly. The debts are no longer tenable. They must be absorbed quickly. As shown by the measures taken last week, the government was quick to hear the warning.

You are therefore in favor of the gold back to a balanced budget?

The principle of the golden rule would consolidate the reputation of our country and facilitate the work of any government.Many countries are engaged in it, it would be strange that we're not able to do French.

Ten billion of additional levies for a billion expenditure savings, is this the best way to fight against the deficit?

We had to quickly adjust the situation, the government has. But you are right, this is not enough, and the state must also accelerate the decline in spending. Ideally, a ratio of 1 to 2: twice as many savings on expenses for upward social and fiscal revenues. Measures such as pension reform and the non-replacement of an official two-point in this direction.Going further will require further structural reforms: focus on local communities and to decline the RGPP; work as health, including public hospitals (why does bill over to the insurance sector private for the same benefits?), and finally develop across the public-private partnerships and public service delegations. These channels have the immense advantage of not touching our social model.

François Fillon he had the "SME attitude" that you keep advocating in his anti-deficit plan?

It has indeed been attentive to small businesses but we must do more. Among the SOHO-SME-ETI today are the CAC 40 companies in 2030: they must get the best possible environment in order to grow.That's why we call for an extensive program to délégiférer and deregulate the legal system that encircles the neck to the small and medium enterprises. It should also reduce their taxes. It is shocking that the corporate tax (IS) actually paid by the SOHO-SME is (relative to the operating surplus) of about 39% against 19% for large companies. Among other reasons, the latter deduced from their result the interest on loans, while the SOHO-SME do not because of their reduced ability to borrow free 3-in-1 credit report. That's double trouble! There is also a reduced rate of corporation tax (15%) for companies whose turnover does not exceed 7.6 million euros. Medef request that the ceiling be raised to 10 million.

Sixteen top managers were willing last week to be taxed more.Do you agree with the exceptional tax on high incomes will be instituted?

We see very high incomes in athletes, actors, professionals: it is not an issue specific to some entrepreneurs. I understand the principle of a special tax to a special moment, but the tree should not hide the forest and make us forget the need for moderation in executive compensation. Also, do not confuse everything. There would be demagoguery to compare the incomparable and put in the same bag annual revenues of 250 000 euros and 2.5 million.Let us ensure that future developments of the threshold does not affect the middle class, including the upper middle classes, which are the engine of the economy.

The inclusion of overtime in the calculation of reduced charges on low wages is not likely does not increase the cost of labor and destroy low-skilled jobs?

There are of course in this action plan that we like less than others. We also deplore the passage of the social package 6 to 8%: it penalizes the profit-sharing that we want to encourage. But all part of a clear logic of debt and that, we salute.

Are you concerned about the evolution of unemployment in the coming months?

We can stop the recent deterioration. Understanding that in TPE-PME is the greatest employment potential and the fostering.Working on better employability of job seekers, integrating strong mutations trades, adapting in real time training.

The precarious employment with the proliferation of part-time, Temporary … How about it?

As part of the agreement on unemployment insurance signed earlier this year, we will create with the unions a working group on the evolution of modes of compensation. We have also provided a social debate on the labor market. I want to bring these reflections to improve the overall employment-unemployment-training. The procedures surrounding the employment contract must further progress: as such, they are blocked by their length and excessive legalism. Fear of hiring is the biggest problem for companies.Should be conducted with the collective labor disruptions that have been done with individual outs. We do not say enough that breaking conventional setup for the first time in France "flexicurity" and everyone wins.

What is the menu of your negotiations with the unions in the second half?

The priority in the coming days is to implement the employer-union agreements in the first half of youth employment. We will also continue negotiations on the value and the modernization of the peer. We will also discussions on the social well-being at work and professional equality between men and women, in which we will include paternity leave.

What is your strategy to get your ideas during the presidential campaign?

In 2007, we published a book, Need air that marked the campaign.We prepare "Need air 2" due out in early January. "Need air 2" propose structural reforms but also bring a great European project. Some time ago, it happened that I meet entrepreneurs who admitted to having voted no to the Maastricht Treaty, now I see those same business leaders confident, enthusiastic and ready to move resolutely towards European federalism economic and social development. France will remain in France if and only if Europe is united, united and powerful.

Crisis forces, maintaining half past two in Beijing Thursday at the Palace of the people, between Nicolas Sarkozy and his Chinese counterpart Hu Jintao has largely focused on economic issues. The objective of this whirlwind tour of the Pacific route to the French president, was to reassure the second largest economy in the world and world's leading investor in the resilience of Europe to the crisis of sovereign debt. "Hu is not worried about the situation in the euro area", despite the runaway budget deficits, said the head of the French state at the end of a working dinner. "He told us he had confidence in the euro (…)." "We are confident that Europe has the wisdom and ability to overcome current difficulties and maintain economic growth and stability.China will continue to make Europe a major investment markets, "for his part, Hu said.

In recent months, Beijing – which has 3,000 billion of reserves – was a major purchaser of European debt, particularly Greece, Portugal and Spain.

Identity of views

The visit was also an opportunity for Nicolas Sarkozy to reaffirm the importance of partnership with China, a few weeks G20 Cannes, chaired by France. Stressing "great convergence of views" between the two countries "on the assessment of the international situation," the Head of State stressed the importance of this summit, which is involved in the revival of global growth."This is a major issue and China has a key role," he said, accompanied by Minister of Finance, Baroin, came specifically to prepare the November summit.

For his part, Hu Jintao spoke of "great importance" to strengthen the dialogue between France and China "to the success of the summit in Cannes, for strengthening international economic cooperation and for the recovery and healthy development of economy ".

The two leaders also discussed the thorny question of the convertibility of the yuan.A subject on which Paris and Beijing "want to move forward," said Nicolas Sarkozy, but "without haste".

Finally, on Libya – Beijing was opposed to strikes from the coalition – the Chinese president said he "kindly analyze" the invitation of France to attend a conference of "Friends of Libya" that wishes organize the French president in Paris on 1 September.

Wall Street played the yoyo on Wednesday, a sign of great excitement. In early trade, the Dow edged up 0.09% at 11,878 points, but half an hour later, he lost 0.32% to 11,829 points. It finally closed on a small increase of 0.25% at 11,896 points. Nasdaq and S & P ending respectively on gains of 0.89% to 2693 points and 1260 points to 0.50%.

The day before, the Dow Jones had not been reassured by the vote of Congress, which has yet avoided a last-minute failure to pay the United States. The index feature New York had dropped 2.19%, still below 12,000 points."The U.S. indices have not even seen a technical rebound in the final hours of trading, as usual … Not since October 2008, the subprime crisis, to find such a sequence of declining U.S. indexes" analysts said Aurel BGC.

The threat rating agencies

In fact, the tension is not ready to fall in markets on both sides of the Atlantic. Despite the adoption by Congress of the Agreement on raising the national debt, the rating agencies maintain pressure on the world's largest economy. "The lowering of AAA to AA + rating from the U.S. would be a major shock for the world's largest economy, one that most creditors on the planet, says Stock Exchange on Barclays.Financing costs would increase the country, making more difficult the control of its huge debt. "

Moody's has already held that the agreement was manifestly inadequate and that the note of the United States could actually be lowered. The AAA highest possible rating currently assigned to the United States, is now accompanied by a negative outlook. Moody's is the second agency to assign a negative outlook on the triple A rating from the United States, according to Standard and Poor's on April 18. The third major rating agency, Fitch Ratings, maintains a stable outlook for now.

Another rating agency, but Chinese Dagong, has already lowered the credit rating of the United States after the vote of Congress, by passing from A + to A with a negative outlook.A decision that should be only for the time being very relative impact: the rating agency, in fact follows a methodology different from that of U.S. agencies Moody's, Fitch or Standard & Poor's. Unlike the three U.S. agencies that provide the United States sesame AAA Dagong does not in Washington this maximum score, and in November had lowered from AA to A +.

The ISM services disappoints

In this context, the macroeconomic agenda of the day, to say the least fleshed out, was watched closely, a sign of investor concerns about growth in the U.S..

At 14:15, the consulting firm HR ADP unveiled its traditional and highly anticipated monthly report on employment. Higher than the 100,000 new jobs expected by analysts, job creation in the U no fax pay day loan.S. private sector employment reached 114,000 in July.

In contrast, growth in the services sector in the United States recorded a surprise slowdown in July, according to the index of purchasing managers released Wednesday by the Institute for Supply Management (ISM). ISM non-manufacturing index stood at 52.7 last month, falling to its lowest level since February 2010, after 53.3 in June. Analysts on average expected a 53.6 index.

Orders for the industry fell 0.8% in June in the United States, driven down by gloom in the transport sector, said Wednesday the Commerce Department. Economists on average had expected a decline a little less strong, 0.7%. Orders were up 0.6% in May

Oil prices have again fallen back sharply Wednesday in New York as the market worried about demand for crude in an economic environment deteriorates.On the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for September delivery finished at 91.93 dollars, down 1.86 dollars compared to the previous day.

Concerns about U.S. energy demand were boosted by the expected increase in official reserves of oil in the week ended July 29.According to figures released by the U.S. Department of Energy (DoE), crude oil inventories rose as expected 1.0 million barrels, those of gasoline rose more than expected 1.7 million barrels against the 100,000 barrels estimated by analysts.

Half year results: Comcast did better than expected

On the corporate side, several large quarterly publications are expected throughout the day, which should, once will not hurt, however, be overshadowed by the acute problems of sovereign debt and economic downturn.

The publications program began as microeconomic 13 hours, with, among others, the results of the second quarter of Time Warner (-1.18% to 33.60 dollars).Net income displayed increased 13.5% to 638 million.

At that moment, were released the results of Comcast (0.18% to 22.77 dollars), who, with a net profit up 16% to $ 1.02 billion, is slightly better than expected.

Garmin (-2.03% to 30.89 dollars) announced quarterly earnings down due to a fall of 19% of sales of navigation systems for cars and mobile devices. Before the opening, title Garmin gave 14%.

It will however wait until 22 hours to find out the half-year figures of Activision Blizzard (1.11% to 11.82 dollars).

Beyond the semi-annual publications, Amag Phamaceuticals (11.19% to $ 16) received an unsolicited offer to buy back the private equity investment MSMB Capital Management, valuing the pharmaceuticals group around $ 381 million.The offer, $ 18 per share offers a premium of 25% over the closing price of Amag Phamaceuticals Tuesday at 14.39 dollars.