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And three! According to statistics of job seekers registered at employment center in March, the number of unemployed in group A (did not work that month) declined for the third consecutive month. He even declined significantly: 21,100. Or reflux of 0.8% monthly, the largest since the crisis began bringing to 42,200 the decline in unemployment in a quarter. Another positive sign has to go back to the first quarter of 2008 to find the last virtuous cycle of three consecutive months of decline.

"We return to the situation before the crisis, welcomes Is there Ministry of Labour. Even if we are not immune to turmoil in the months ahead, the trend is a sustained decline on 2011. " A decline that could be much higher than 55,000 by early employment center for the entire year."We will do much better," promises one even rue de Grenelle where we put forward the 500 million new contracts helped decided in March have not yet been offered to the unemployed.

The reflux of March is all the more important that, unlike in January (19,300), it is not offset by an increase in suspensions and cancellations of registration at employment center. The government does not short the risk that this reduction was accused of "statistical" by unions. The suspension of registration for failure to update and deletion of files employment center in fact increased the thickness of the line in March, when they equaled the decline at the beginning of the year. Depending on the category called reference (which focus on government policies of employment), there are now 2 guaranteed approval cash loans.68 million unemployed in France.A variation reduced to 0.7% yoy, against increases of nearly 10% last year and more than 25% in mid-2009.

Higher for applicants with reduced activity this good news, however, are tinged with gray when viewing the data including job seekers with reduced activities conducted in March. The number enrolled in classes B and C (having worked less than 78 hours or more) rose by 10,400 and 15,400, bringing the total of 4700 + registered unemployed in A, B and C. In one year, the variation of this indicator – which fell only 3 times in two years – is + 3.8% to 4.045 million. If less than 25 years and 25-49 years away are rather better in March, it is different for more than 50 years whose enrollment continues to climb. 4% over one month and 13% in one year.It is certainly far from the annual increases – nearly three times – two years ago but the problem of unemployment remains unsolved fifties.

As is that of long-term unemployed whose number swells inexorably as every month. In March, he still rose 0.4% for enrolled for more than a year employment center where the average length of unemployment now stands at 448 days. Not since June 2001, ten years ago, to find such a level.

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At TEPCO, the operator of the central hilly Fukushima, everyone will have to sacrifice financially to repay victims of the worst nuclear disaster since Chernobyl. The Japanese utility Tokyo Electric Power, said TEPCO announced Monday a general reduction in salaries of its staff to reduce expenses. This is for her to pay their due compensation to the people of the region.

All will not suffer wage cuts of the same magnitude. Widely criticized for their handling of the crisis, the honorary chairman, CEO and other senior leaders TEPCO will see their annual emoluments amputation of 50%. The salaries of middle managers will be reduced by 25% and those of ordinary employees by 20%. TEPCO had already announced it would not pay dividends to its shareholders or for 2010 or 2011.

"We will apply these deductions to earnings because of the impact on our accounts of the amounts payable under the law on compensation for nuclear damage to those who have been victims, and because of the increased costs for rebuild electrical installations, "the company said in a statement. Tepco discount and make an annual saving of 54 billion yen (455 million).

Recruitment canceled

In addition, the company canceled a plan to recruit 1,100 people. These hires, planned for 2012, should allow it to expand abroad. Before his international ambitions are ruined by the disaster, including TEPCO planned to expand its business in construction and operation of nuclear facilities outside Japan.

"We sincerely apologize to the public and our customers for concerns and inconvenience caused by the accident in Fukushima," assured the group. "We will continue to make every effort to manage the current situation and reduce our expenses by focusing on stable supply of electricity and security."

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A Godollo in Hungary, where met yesterday evening and until the European Ministers of Finance, there is no question that in Portugal. On the contrary. Already mentioned by several sources yesterday, the willingness of European central bankers to improve transparency in the markets for raw materials is returned to the forefront of discussions on Saturday. A question then became crucial that the European Commission has recently acknowledged a link between speculation in futures markets in commodities and rising prices in physical markets.

"The manipulation of market rates for raw materials is also relatively easy because these are rather small market, and often held by a small number of players" also explains Jean-Paul Pollin, a member of the Circle of economists to illustrate the abuses and monopolistic positions sometimes encountered in these markets and those of their derivatives.

Therefore, proposals are being studied at 27, to control the most price changes associated with these phenomena. Among them, the establishment of position limits, set by the stock market regulator, and determining the maximum number of option contracts held by an operator on a given value and the same direction (buy or sell).

Prevention of market abuse

The final text of the meeting Godollo is not yet known but according to Reuters, he would insist on the will of ministers gathered near Budapest to establish such type of action to "identify and prevent market abuse, particularly cross-market manipulation Same day payday loans. "

Limit the level of position would then reduce the "market makers", as defined by Christine Lagarde.The French Minister supported by his words, the will of France to make the fight against speculation over raw materials, one of the major challenges of the presidency of the G20 which runs until November 2011. "We need mechanisms to ensure proper regulation," stressed the minister. "The position limits would avoid that market makers do too important positions."

Working basis before the G20 in a week

Nevertheless, several steps remain to be taken.Before each national stock Constable imposes such limits under the auspices of ESMA (European Financial Markets Authority), Michel Barnier, Commissioner for Internal Market will include the first proposal in the revision of the Directive on Instruments Markets (MiFID) scheduled for July Each member country must then adopt it, and the European Parliament.

Nevertheless, progress made at European level in the direction of greater transparency in commodity markets, will enable France to have a basic working to convince world powers on this principle, one week before the G20 meeting in Washington April 15.

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A plea for the European social dialogue. The French ministers Laurent Wauquiez (European Affairs) and Xavier Bertrand (Labour and Employment) will send "within 10 days" a letter to Laszlo Andor, European Commissioner for Social Affairs, requesting "that the social partners be fully involved in defining the Union's priorities in the economic and social. " With a copy to Michel Barnier, his counterpart at Market and former French Minister of Agriculture.

"The social partners must be consulted further upstream on the records, under the European semester," explains Laurent Wauquiez, who met Tuesday evening at the Quai d'Orsay representatives of unions and employers' organizations to explain its position ."We have to defend common interests at European level of public services and quality jobs, investment in infrastructure …," he says.

The original of this letter together with Xavier Bertrand, Le Figaro has procured the revolt of European trade unions and employers after the adoption on March 25 by the Heads of State of the Union "pact for euro. According to them, this project developed without consultation "institutionalizes the recommendations concerning them directly. As wage restraint, control of public spending or delaying the age of retirement."The procedures of consultation with social partners would benefit from being retooled, and concede the French ministers in their letter.

Themes targeted

Of the four trails of association "informally" to the study, the Commission may for example interact with the European social partners before making public its communication on the annual review of growth by integrating "their observations and grids analysis to its proposals. " Brussels could still work with them to "a common vision and priorities for structural reforms of the labor market to implement, by targeting a small number of thematic priorities. As "portability of pension rights from one country to another," offers Laurent Wauquiez.

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"There is no concern for supplies." The CEO of Total, Christophe de Margerie, before an audience of patrons of the oil and gas gathered Tuesday in Houston for the conference Cera Week, has hammered its reassuring message. "Saudi has the capacity to address the lack of Libyan production," added the French boss.

While across the Atlantic where gasoline exceeds the psychological threshold of four dollars a gallon in several states, the votes are increasing for the Obama administration draws strategic stocks. Christophe de Margerie replies: "These stocks are made for real shortages. Using them would send a signal to markets of fear. "

Invited to give a broad picture of the oil interests for years to come, the CEO who shows the greatest benefit of the CAC 40, with 10.2 billion euros, was less confident for the medium term."We can worry about our ability to increase production" of oil to meet rising demand, driven by emerging countries. However, investment in exploration and production suffers from the uncertainty room basically said de Margerie. And "the situation in the Maghreb does not make things easier, others" Libya "can occur."

Total up on Russia and Brazil remains cautious

Total particularly focuses on the Russian far north to secure its supply as evidenced by the recent acquisition of 12% of Russian producer Novatek independent for 4 billion. However, Total is not ready for the moment to invest heavily in another region of the world reserves underwater very promising: Brazil. The Brazilian Petrobras does not sufficiently profitable, said de Margerie."Petrobras is understandable if the returns are not as good as U.S. Treasuries that it is not worth going there."

More unexpected from a pattern of "Big Oil" as it means the world of big oil companies, Christophe de Margerie has a clear call to "reduce demand" for oil. Which can come only in developed countries, "a better use of energy." A logical conclusion because in a world of growing uncertainties, Christophe de Margerie said it was hard to bring the world oil production, currently at 86-87 million barrels per day in excess of 95 million barrels per day.

More than a month after the fall of President Zine el-Abidine Ben Ali, two French ministers have visited for the first time in Tunisia on Tuesday. For this visit aimed at restoring confidence between Paris and Tunis, following a succession of blunders diplomacy, Economy Minister Christine Lagarde is accompanied by Laurent Wauquiez, the minister for European affairs. Officially, the European Affairs Minister Michele Alliot-Marie could not go to Tunis to issues agenda. She is currently conducting a two-day trip to Brazil.

"Trust between Tunisia and France has not been broken," assured in front of some journalists Christine Lagarde at the beginning of his visit to Tunisia a few hours low fee payday loans. "The relationship between France and Tunisia has for centuries made a lot of light, a little dark sometimes.We are clearly in a period of light for this country, "she added.

"We do not come to lecture but to listen to their needs," said his part the Minister of European Affairs, Laurent Wauquiez. He raised the possibility of increasing European funding and needed to establish a "Marshall Plan now for Tunisia, European and also global":

The player has to use the default items for export of figaro.fr FB

The Paris Bourse ends in a narrow green, having increased its losses to 14.00, a victim of publications of macroeconomic indicators disappointing overseas. The CAC 40 closed end up 0.02% to 4152.31 points, after a day marked by the publication of company results. The benchmark index in Paris marks a break on Wednesday after hitting its highest since September 2008.

Lack of conviction also on other major European markets. At the London Stock Exchange, the FTSE-100 rose symbolically, from 0.03% to 6087.38 points and the Frankfurt Stock Exchange, the Dax fell back from 0.12% to 7405.51 points.

Since Thursday, the macroeconomic news was mostly American, with the U.S., consumer prices have risen more sharply than expected in January.Larger increase than expected also for the weekly jobless claims, which rose from 385,000 to 410,000, against 400,000 expected by economists.

The composite indicator of economic activity, which anticipates the situation in the United States within six months, has also slowed sharply in January, according to the Conference Board, which bodes however still a continuing growth in addition Atlantic. Over a month, it rose 0.1% against 0.8% in December and 1.1% in November.

The only good surprise, the index of manufacturing activity from the Federal Reserve of Philadelphia (Philly Fed) has largely beaten the consensus in February to $ 35.9 against 19.3 in January, its highest in seven years (January 2004). Economists expected a virtually stable at 20.9.

In France, the number of start-ups fell by 10.2% in January compared to December, with a marked decline in self-creations outside contractors, INSEE said Thursday.

On the currency markets, the euro against the dollar resumed on Thursday, traders digesting mixed indicators in the United States, following cautious comments from U.S. Federal Reserve (Fed). Around 17:30 in Paris, the euro bought 1.3603 dollars against 1.3570 dollars late Wednesday.

On the corporate side, nine companies published on Thursday morning.Reactions to the Paris Bourse were divided: five were up (Capgemini, PPR, TF1, Schneider, Technip) and four declined (Eramet, BNP Paribas, Axa, Pernod Ricard).

TF1 takes advantage of the recovery in advertising market

Capgemini: + 5.71% to 42.13 euros – the largest increase CAC 40

The consulting group Capgemini and Computer Services posted Thursday a net profit in 2010 increased 57% to 280 million euros forecast for 2011 indicating a growth in turnover of between 9 and 10%.

Alcatel-Lucent: + 1.08% to 3.57 euros

Alcatel-Lucent is confident about its prospects in the U.S. this year, based on significant contracts with major operators in the country, Verizon and Sprint Nextel, told Reuters his director of the Americas.

PPR: + 1.90% to 115.35 euros

PPR has reported an annual net profit up 1.4% to 965 million euros, while its turnover in 2010 rose 7.5% to 14.6 billion euros. The distribution group and luxury is confident to achieve this year's financial performance than those of 2010.

TF1: + 2.95% to 14 paperless payday loans.81 euros

TF1 double its annual net profit to 229 million euros thanks to the upturn in the advertising market. The group chaired by Nonce Paolini expects a stagnation in sales 2011, after it rose 11% in 2010.

Schneider: + 2.56% to 118 euros

Schneider Electric has published on Thursday a net profit doubled in 2010 to 1.7 billion euros.The group targets a growth of 6 to 9% this year, a margin which improved to reach 15 to 15.5% in 2011.

Lagardère: + 0.98% to 33.40 euros

Canal + France said it had registered Wednesday its core document with the AMF, to an IPO in Paris on 20% of its capital owned by the Lagardere group.

Eramet: -3% to 268.35 euros

The mining group has annual net profit of 328 million euros against a loss of 265 million in 2009 thanks to growth in emerging markets and strong sales growth in the fourth quarter, "he said Thursday.

BNP Paribas missed market expectations in the fourth quarter

Pernod Ricard: -3.78% to 67.96 euros – the largest drop CAC 40

The wine and spirits group Pernod Ricard said Thursday net results in increase in the first half of its fiscal year offset.

Axa: -2.01% to 15.66 euros

The insurer Axa in 2010 recorded a net profit of 2.749 billion euros, down 24%, affected by special items related to divestitures in the United Kingdom, according to a statement released Thursday.

Technip: + 2.11% to 74.44 euros

Technip table for this year on a turnover of about 6.5 to 6.7 billion euros and an operating margin Subsea (subsea infrastructure) above 15%.

BNP Paribas: -0.61% to 58.614 euros

2010 net earnings of the banking group was up by 34% to 7.8 billion euros.However, BNP Paribas has missed market expectations in the fourth quarter, after a depreciation in its accounts unexpectedly on its stake in Axa.The number one European bank in its wake other banks: Credit Agricole, which publishes Thursday – yields 0.98% to 12.09 euros and Natixis – which reports Friday, February 25 – was down 0.50% to 4 , 14 euros.

Societe Generale said Wednesday that profit climbed above expectations of 0.23% to 51.236 euros

Alstom: -0.29% to 42.88 euros

The European Railway Agency in March will make its technical opinion on the circulation of new types of trains through the Channel Tunnel, which will build review the Franco-britaninque responsible for settling the case, said Wednesday Thierry Mariani.

Scor: + 0.19% to 20.94 euros

Scor announced Wednesday the sale of its fixed annuity in the United States to Athene Holding for 55 million dollars (40 million).

Saft: -0.62% to 27.84 euros

Saft has announced an acceleration of its business in 2011 but a slight margin decline due to one of its plant projects in the United States.

Icade: -1.35% to 80.95 euros

Icade intends to continue the service sector of its activities with delivery over the next several years of its pipeline projects valued at 900 million euros.

After market, Eutelsat will publish its first half results.

Asian stock exchanges choose divergent paths that mercredi.La closing unchanged on Wall Street and the European markets down Tuesday prompting investors to the region to exercise caution. All were suspended from the speech of U.S. President Barack Obama on the State of the Union. Barack Obama has talked in very general terms of the fight against unemployment, does not announce any concrete new measures to support short-term employment.

Moreover, the markets were disappointed by the mixed financial results published overseas.

In Japan, it is time for consolidation. The day after a session of strong gains, the Japanese Nikkei lost 0.60% to close at 10,401.90 points. The broader Topix index of all titles of the first table on his side dropped 0.71% to 922.64 points. The rise of the yen weighed on tencande.As for values, Toyota displayed a decrease of 1.73% after announcing the recall of 1.2 million vehicles in Japan, because of the risk of fuel leakage. The massive operation for nearly 16 models (not to mention their different versions) between May 2000 and October 2008.

Korea's growth at above 8 years

In China, the indices move in contrast to positive territory my credit score. The Stock Exchange of Hong Kong is gaining 0.44% at 23,893 points, after opening up 0.30%. For its part, the Shanghai Stock Exchange ahead of 0.60% to 2693 points. The markets, however, show caution due to a restriction of liquidity in the money market before the Lunar New Year celebration next week, dealers said.

Moreover, the sessions are more mixed. The Korean KOSDAQ climbed 0.23%, boosted by the announcement of higher than expected GDP in the fourth quarter of 2010.They increased by 0.5% over the previous three months. Over the full year, the increase is 6.1%, the highest in eight years.

In Australia, the S & P advance of 0.46%, while the Indian Sensex was down 0.95%.

Oil rises

Crude prices were up Wednesday in electronic trading in Asia, a movement of bargain hunting after declines in previous sessions, analysts said.

In morning trading, a barrel of light sweet crude for March delivery gained 24 cents to 86.43 dollars. Of Brent North Sea with identical maturity took 23 cents to 95.48 dollars.

The schedule is tight: a report from the Audit Office in late February 2011 on the comparison of German and French tax systems, a discussion in Parliament, then the presentation of a text by the Cabinet in late April as just announce the budget minister Baroin. The bill will ultimately be reviewed by Parliament in June.

On Tuesday, the budget minister will meet for the first time some twenty parliamentary deputies and senators of the majority, to explore different avenues to reform the taxation of wealth. They include Michel Piron, a supporter of the abolition of the solidarity tax on wealth, Herve Mariton who is critical of the lack of performance of the ISF, but also Yves Censi, or Senator Marie-Helene of Esgaulx wishing to address the estate tax.Budget Minister Baroin will also hold a conference in early March on the same theme.

Predicted demise of the shield and ISF

The guideline has been hammered repeatedly by the president who made this issue one of its priorities for 2011. "I will remove the tax shield, I'll delete the ISF," said Nicolas Sarkozy was in November 2010.

Delicate exercise, both fiscally and politically, the more it will cost the state nothing. Christine Lagarde, economy minister reaffirmed last week, the reform should be done at zero cost, not to weigh on public accounts. " However, a complete removal of the double shield and ISF would cost the state: it spends 700 million euros for the first, second, it reported $ 3.9 billion.So 3.2 billion should be offset by new revenue from Bercy. Even if takes the voices dissonant are heard to say that the total loss will be lower.

LAI alleviated

If removing the tax cap which limits all direct taxes to 50% of income of the taxpayer, appears gained for electoral reasons, the ISF could instead be retained, but undergo transformations. Last November, the budget minister has raised the possibility of raising the ceiling for tax on capital. "You have more than half of people subject to the ISF, which are only due to the changing world of real estate. If you change the edge and you spend 790,000 euros (Editor's note: threshold current TFR) to 1.2 or 1.3 million for the ticket, you remove 250,000 to 300,000 subject to the ISF, he said.This measure would in effect remove the first installment of the tax.

Another track, always linked to the main residence, is evoked: the exemption of the property within the limit from 400,000 to 500,000 euros, and a continuation of taxation beyond that value no fax needed payday loans. The proposal made by the UMP Gilles Carrez states that taxed goods will continue to benefit from the 30% reduction in force since 2007.

Tax the capital gains

To offset the possible reduction in the base of the ISF, a new tax on real estate are considered. "What we retired to a place, you must have it back to another", explained recently Baroin on France Inter.

Nicolas Sarkozy last week said he was "logical" to tax unearned income than to tax the ownership of assets.The government therefore would reflect a tax affecting capital gains realized on the sale of a principal residence. Currently, the French with a marked increase in value when selling their principal residence are not taxed on that gain. The taxation of capital gains on investments such as stocks, life insurance or the book A is also under consideration. "We say end of February which tracks we depart," said this morning the Minister of Budget.

Movement of the plane larger than expected

Baroin also announced that the movement of the plane on tax loopholes will be greater than expected next year. After an initial reduction of 9.5 billion euros this year, so they will be cut by 3 billion in 2012 to meet commitments to reduce deficits, while the budget adopted in December called for a reduction of2, 1 billion euros.In late September, the government had announced with a plane extra 3 billion per year in 2013 and 2014."We have I think three years of fiscal crisis to manage, we have three years of saving, master," said Budget Minister.

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What's better than Christmas Day to make decisions watched by the markets without them in panic now? The People's Bank of China (PBOC), China's central bank has raised interest rates modestly interest on loans and deposits of a sentence issued on December 25 on its website. They go respectively to 5.81% and 2.75%, or 0.25% more than their previous level. After an initial surprise increase in mid-October, or a gradual appreciation of the yuan over 2.5% since June, the markets were expecting a use interest rates to curb effectively the new bete noire of the central authorities: inflation.

Change of course

In November, the index of consumer prices rose 5.1%, a scale not seen in almost two and a half years.Driven by real estate and food prices soaring this give cold sweats to the central government, fearing above all the social consequences. A recent study by the Academy of Social Sciences of China, published in early December, showed that 85% of Chinese households can not afford to own. On the street markets, rising prices became the only topic of conversation and the Chinese Internet relays readily these concerns. Recently, a blogger, hosted by the leading Chinese portal Sina, amused himself by drawing up a comparative table of prices of vegetables and meat in Hangzhou, one of the richest cities of China in two hours drive from Shanghai, with those of Boston check cash advance.Finally, some foods are more expensive in the affluent Chinese city on the East Coast.

Facing the dull discontent of the masses, the power distills his actions slowly and remember that everything is under control. Sunday, Premier Wen Jiabao, wanted reassurance. "I think we can keep prices at reasonable levels through our efforts. As head of government, I have responsibility but I have confidence, "he replied to one of the listeners. To effectively curb rising prices, China is mainly the influx of cash that flood its economy since the beginning of the recovery plan launched in late 2008 to avert the crisis. Chinese banks have already exceeded government targets by paying 857 billion euros between January and November, when the bar 863 billion was set for the whole year.What trade surplus added up each month.

In early December, the central government had officially announced a shift from a monetary policy "relatively soft" to a political "conservative." Clearly, Beijing reported tightening. The battery of measures already adopted is only the beginning. Besides a wider appreciation of the yuan, analysts expect rising interest rates that could reach a total of 1% before the summer.

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