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The Unedic Thursday sharply revised its financial projections and employment for 2011 and 2012 following the economic downturn. And the results are anything but good. While the unemployment insurance system in late May included a slight increase in unemployment this year (12,000), it is now estimated that 144,100 more job seekers through the doors of employment center in 2011.

A variation in the end, more than 130,000 people! Worse, for next year, the decline was announced before the 91,000 unemployed in 2012 should eventually turn up … 123,100. Or, this time, a delta of close to 215,000 job seekers.

Job creation in 2012 will also suffer from the slowdown by 2013.According to projections by Unedic, they will simply be divided by 2.5, to stabilize below 70 000 in late 2012.

13 billion euros of accumulated deficit late 2012

The effect on the finances of the unemployment insurance system is important easy to get unsecured personal loans. The deficit for 2011 is expected to increase to 500 million euros, 2.5 billion tangent again. And over 272 million anticipated four months ago for 2012 will turn into hole of nearly $ 1.8 billion. Result, the deficit which was initially just exceed 10 billion by 2012, also off again on the rise and be around at the end of next year, the $ 13 billion.

"These poor results do not Unedic in a dire financial situation, however, reassured the president, Gaby Bonnand. We have the means to meet our commitments and pay allowances.We just need to remain vigilant because it will be difficult to borrow in the markets, given the situation worse. "

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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.

The whole world is seeking to reassure the world's largest investor, China. And France is no exception. On the way to New Caledonia where it is present at the opening of the Pacific Games, Nicolas Sarkozy made a stop today in Beijing. Announced only last Sunday – but planned for a month, provides the Elysee – the four-hour whirlwind tour of the French president is primarily to provide assurance to the leaders of the second world economy, while Europe and the United States face a debt crisis without precedent. The head of state is dinner tonight with his Chinese counterpart, Hu Jintao, in Beijing. "In the current context and a little over two months of the G20 summit in Cannes in November, it is not difficult to guess the subjects they will address," said one diplomatic source. Clearly, it will issue debt and G20.

Signs of nervousness

Beijing, which has invested since last year in debt Greek, Portuguese, Spanish and Hungarian, in general, shows a certain confidence in its accounts receivable. But this week, several signs of nervousness sweating in the corridors of power. "The debt crisis has slowly spread, like the black plague in the fourteenth century, from Greece to the peripheral countries of the European Union such as Ireland and Italy," wrote the beginning and Zhang Zhixiang week and Zhang Chao, two economists recognized, in an editorial in the very official People's Daily paydayloans.

The next day, a long interview with German magazine Der Spiegel gave the floor to the Deputy Minister of Foreign Affairs, Fu Ying, who did not hesitate to scold Europe "vain.""If you do not gather to solve these problems, the euro could collapse," and estimated the diplomat, who acknowledged that China also suffers financial crisis.

Nicolas Sarkozy's visit comes two days after the departure of Joe Biden, U.S. Vice President, came in person to allay Chinese concerns about the devaluation of U.S. assets. "We need to address our deficit and we will address this," said the American number two on the last day of his visit.

Nicolas Sarkozy, who chairs the G20 this year, should also benefit from meeting with Chinese President to push the issues close to his heart, such as reducing trade imbalances and the controversial idea, defended by the Franco- German, a tax on financial transactions.The Minister of Economy and Finance, Baroin, must also be part of travel and extend the discussions preparatory to the G20 in the day tomorrow.

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The speech Barack Obama optimistic about economic prospects was not enough to lighten the mood in the U.S. markets. In the aftermath of a black session, Wall Street closed Friday on a very hesitant, after playing roller coaster the entire session. The Dow Jones gained 0.54% to 11,444.61 points but the S & P lost 0.06% to 1199.39 points and the Nasdaq drops 0.94% to 2532.41 points.

The fence marks the end of the worst weekly meeting signed by the S & P 500 over two years. For the week, the Dow has sold 5.8%, the S & P 500 -7.2% -8.1% and the Nasdaq. Obama does not reassure

The announcement of a significant improvement in job creation last month has not calmed the spirits. Publications disappointing state of the U.S. economy had yet chained, challenging the idea of ​​resumption of the first global economy.This publication confirms the figures released Wednesday by ADP, reports of more new jobs than expected for the month of July.

U.S. markets also hesitant despite market rumors to the effect that the European Central Bank is ready to support the Italian and Spanish bonds, if these countries to undergo structural reforms.

Moreover, operators have learned that Americans use to consumer credit rose in June at a pace not seen since the recession began, according to figures released Friday by the central bank (Fed) of the United States.The outstanding amount of these loans has jumped on this month of 7.7% annual rate over the previous month, the biggest increase since August 2007, reaching 2,446.1 billion.

Oil pulls himself together

After a slight increase at the opening, oil prices find their way back down to 18 hours, Paris time. After working in the Russian mountains on the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for delivery in September was finally completed in 86.88 dollars, up 25 cents from the previous day

The reassuring news, from Europe have traced the course of the euro by 1.25%. The euro traded at $ 1.43 against the greenback to 19 pm Paris time.

AIG, GM and Procter & Gamble publish their accounts

On the corporate side, the semi-annual publications still dominate the news on Friday.

For the second straight session, the group Kraft (3.21% to 34.87 dollars), which has split its U.S. branch of its activities snacking, remain top of the list of the stock market.

Thursday evening after market, the insurer AIG (-4.96% to 25.09 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 (-4.85% to 90.89 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.

General Motors (GM) (1.23% to 26.31 dollars) Thursday reported quarterly results exceeded expectations, with a near doubling of profits over the period.

Procter & Gamble (1.71% to 60.60 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 (0.97% to 51.85 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 (-7.76% to 8.15 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.

Pessimism still dominates the Paris Stock Exchange on Monday. After a week complex, marked by a loss of almost 5% for the CAC 40, investors do not find the moral. The CAC 40 lost 1.2% in mid-session and falls under the 3700 points to 3680.20 points. The gap even widened to 16 hours with a decline of 2% to 3652.77 points. Meanwhile, the London Stock Exchange lost 0.81% to 5796.60 points and the DAX index of the Frankfurt Stock Exchange was down 0.94% to 7152.30 points.

The Asian market has not sent a clear signal this morning. Only U.S. markets manage to stay the course despite the many warnings about agency debt. In this regard, President Barack Obama issued an ultimatum to Congress on increasing the debt ceiling while Republicans are sticking to their positions.In Europe, the problems of sovereign debt will also be at the heart of discussions of heads of state on Thursday at a special summit meant to calm markets.

Meanwhile, next currency, the euro fell slightly against the greenback at 1.4046 dollars against 1.4156 dollars on Friday night. Gold, meanwhile, took advantage of the nervousness of investors to assert its status as a safe haven: an ounce on Monday has risen to 1600.10 dollars, linking 11 consecutive sessions of gains. The most since July 1980.

In terms of indicators, the day will be particularly quiet with only the index of the real estate market in the United States waited for the afternoon.The rest of the week will be richer with, among others, the German ZEW index (Tuesday), the U.S. existing home sales (Wednesday), the weekly jobless across the Atlantic (Thursday) and the confidence index Business in France (Friday).

Oil markets, oil prices were without direction. A barrel of "light sweet crude" for August delivery lost 9 cents to 97.15 dollars while that of Brent North Sea crude for September delivery took 22 cents to 117.48 dollars.

Bank stocks led the largest declines

By sector, the entire banking sector unscrewed, after publication of the study undigested JPMorgan Cazenove, which assessed the need for additional capital of European institutions on the basis of more stringent capital adequacy ratio payday advance lender.According to JPMorgan, BNP Paribas (-2.64% to 44.08 euros), Societe Generale (-4.81% to 33.03 euros) and Credit Agricole (-2.31% to 8.28 euros) should raise 20 billion euros, one quarter of the amount to raise in Europe. This study follows the results of stress tests of the European Union that French banks have yet passed. In turn, AXA (-3.60% to 13.13 euros) and Natixis (-1.98% to 3.07 euros) drop sharply.

For beyond this study, a European project to create a tax on banks to help Greece is under consideration, according to Die Welt. It concerns all European banks, whether or not active in the Greek market.

France Telecom: -0.36% to 13.72 euros

The operator plans to launch a bid for the fourth mobile operator in the Democratic Republic of Congo, Congo-China Telecom (CTC).The terms of any agreement, still being negotiated, would provide for the redemption of 51% of CTC held by the Chinese manufacturer ZTE telecom equipment, and 49% owned by the Congolese state.

ArcelorMittal: -1.15% to 22.40 euros

The group could respond to the study of the British consulting firm Meps specializes in the steel industry that China would underestimate production. Beijing would have produced 672 million tons of steel, half of the world, against 627 million tonnes officially announced.Meps suspects including small local mills continue to run ads despite the closure due to pollution problems and productivity.

Publicis: -1.13% to 36.86 euros

The group has obtained a syndicated multi-currency $ 1.2 billion.

Atari: -9.77% to 2.31 euros

The French publisher Atari video game released Monday sales down 36.1% to 9.2 million euros for the first quarter of fiscal year 2011/2012, he explained his shift to online games and mobile.

As for publications, Edenred deliver its sales in the first half after market. Guyenne et Gascogne announce its second quarter earnings as Audika.

Alongside the giants Fitch, Moody's and Standard & Poor's, "small" credit rating agencies are somewhat more severe in their ratings of sovereign debt …

In fact, earlier this year, more than half of Canadian sovereign ratings by DBRS, and the Japanese JCR and Rating & Investment (the three "small" agencies enjoying a certain notoriety) are quite correlated, and appear on average equivalent to Fitch, Moody's and Standard & Poor's. Chinese Dagong, however, stands out, since at best one third of his notes are the same as those of Moody's, Fitch and S & P. These notes have several characteristics. First, the "ratings" assigned by Dagong the major emerging countries [Brazil, China, India, Russia, Saudi Arabia, South Africa, note] are significantly higher than those of Western agencies.Then, his notes to the major industrialized countries [North America, Europe and Japan] are much lower than those of Western agencies. In both cases, the differential of notes can reach four notches, which is considerable.

What credit can we give these agencies?

They have mainly local influence, at best regional. So even if DBRS has a good reputation, is most active in Canada and the United States. It is also accredited by the SEC [Securities and Exchange Commission, Constable of the U.S. markets]. But it suffers from a lack of notoriety outside of North America. As for JCR and Rating & Investment, these agencies have an influence on the Asian continent, but tend to "surnoter" Asian debt issuers. Both are accredited by the SEC. However, Dagong this accreditation was denied two years ago.The U.S. authorities have found it too especially in the political influence of Beijing. Since then, Dagong never ceases to publish reports critical of both the U.S. monetary and fiscal policy, that the action of three. In summary, Dagong tries to embody the alternative in the rating industry. It is aware that the financial difficulties of the United States and several European countries confirm their views. Still, recent events such as doubts about the sustainability of the euro area and the uncertainties about the ability of the United States to halt the spiral of debt due to give Dagong.

Some leading economists, such as Patrick Artus (Natixis), Dagong now estimate that better reflects the reality, particularly offended to see the 'big three' to keep a high rating for U.S. debt.What do you think?

I share the view of Patrick Artus on the fact that the ratings of several countries are excessively high. Fitch, Moody's and S & P "surnoté" Greece and many European countries because they have seen, wrongly, that membership in the euro area reduces the risk of insolvency overnight pay day loans… It was a mistake. States whose public debt has risen sharply over the past decade that have not reorganized their welfare state and have sufficiently reformed their pension system should be degraded. However, I also think that Dagong "surnote" some emerging, such as China, Russia and South Africa. In detail, the "overweight" on criteria such as economic growth and foreign exchange reserves, but neglects the indicators of political and institutional stability, not thinking enough in terms of debt sustainability.For industrialized countries recorded a triple and double "A" by Fitch, Moody's and S & P can afford debt levels higher than those of emerging markets, given the importance of the middle class, better social cohesion, and greater ease in accessing capital markets.

In a context of debt crisis, and after the disappointments of the "Big Three" during the crisis (widely criticized, especially for high marks stamped toxic financial products) these agencies for the time being heard by some markets , she can gain influence?

For four years, it's true that small agencies, few involved in these scandals, have the opportunity to hold their own in the game but break into the industry rating is very difficult because the three major agencies hold almost all (95%) market share.To me, small agencies have only two possible strategies: either they specialize in industry niches or geographic, or they differ in their diagnoses and notations, like Dagong.

Do we need more competition in the industry of the rating?

Yes, and again, the new entrants will be more positive than their ratings diverge from those of the 'big three'. This can particularly help reduce the effects of mimicry on the markets. But regulators must ensure, however, that increased competition does not lead to an inflation of ratings that may be confusing. In addition to competition, agencies must review their methodologies.In the future, agencies should lower the country notes that even in times of growth, are unable to reduce their deficits, as these states will be vulnerable in the first economic downturn. This type of care would include agencies to better anticipate the debt crises.

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The gas is in talks to take over the assets of the U.S. company Duke Energy in Latin America, according to the Brazilian business newspaper Valor Economico.

Areva. The nuclear group should ally with the Spanish Iberdrola Renewables on two of the five areas of the tender for offshore wind launched by the state, according to Les Echos.

Ipsos. The British advertising group Aegis said to be in exclusive talks with the institute of studies and surveys for the sale of its subsidiary Synovate market research cheapest personal loan rates.

Havas. In an interview with Echo, the executive director of the group will develop two commercial microarray in the world, one around his BETC teaches French and the other around Arnold, a Boston-based agency

After the close of trading, EuropaCorp will release its results for the year 2010-2011.

While EU leaders try to reassure financial markets by removing any idea of ​​restructuring or default, the rating agencies to drive endless Greece. Moody's after the Ascension, Standard & Poor's downgraded three notches note of Greece on Whit Monday. And what a month after having been lowered by two. Another two notches and the country would be in default. "The deterioration reflects our opinion that there is an even higher risk of one or more defects," the agency said in a statement, while the debate rages over the possibility of restructuring the public debt of Greece.

S & P believes that, as part of a restructuring of the Greek debt, the private sector (banks, investment funds, insurers), drawn on, would be faced either a "trading securities" or an "extension maturities.Such operations would be considered "as a failure" by the rating agency, and in this case, it could assign a note to Greece even lower, relegating it to a situation of partial default.

Standard & Poor's stressed, however, it could stabilize the country's rating to "CCC", if the euro zone was a solution that does not correspond to a default under its criteria, even taking into account the risk of debt restructuring "in the form of a discount" by 2013.The U.S. rating agency added that Greece can not go on the financial markets in 2012 and "probably later", as agreed under the Emergency Plan supported by the EU and IMF for the country .

This did not cause further deterioration of sharp declines in U.S. stock markets, Wall Street still showing slight increases: 0.23% to 11,981.28 points and the Dow Jones + 0.18% to 2648.30 points for the Nasdaq. Credit rating agencies have not yet won their showdown. Meanwhile the reactions of financial markets on Tuesday.

This had not happened for a month. The CAC 40 closed on Monday below 4000 points, among others penalized by bank stocks. Investors worried about a new crisis on the debt of the euro area after the arrest of the International Monetary Fund boss Dominique Strauss-Kahn.

Futures on the CAC 40 fell by 0.62% to 3965 points.

Monday night, Wall Street has ended the session down in response to the publication of indicators revealing the fragility of U.S. recovery.

The Euro continues Tuesday

In the absence of corporate results announcements, the index will evolve with ads that will be made following the meeting of EU finance ministers to discuss particular mechanisms of financial aid in the euro area. On the issue of Greece's debt, the Europeans are divided.Bank stocks will be well to follow, they have lost an average of 1% on Monday.

On the macroeconomic front, the new car registrations in the European Union fell 2.7% annual rate over the months from January to April, according to figures released Tuesday by the European Automobile Manufacturers Association (Acea).

United States, are scheduled starts of dwellings in April (14.30) and industrial production in April (15.15).

On the currency markets, the euro rose slightly against the dollar, from 0.16% to 1.4183 dollar.

Energy stocks under pressure

On the corporate side, investors will be interested in energy stocks that should suffer from the decline in commodity prices.

Bouygues raised slightly on Monday its goal of annual sales after a first quarter marked by a rebound in activity but penalized at the net contribution by Alstom.

Vivendi announced Monday it had obtained signed with a syndicate of 17 banks a new line of credit totaling € 5 billion that will allow it to optimize the management of its bank debt at the time of the acquisition of the 44 % of SFR held by Vodafone.

Publicis buys U.S. digital marketing agency Rosetta for at least $ 575 million – the agreement provides that an additional payment may be made in 2014 to Rosetta in the case of good performance over the period 2011-2013.

Carrefour wants IPO for its real estate assets

During its Investor Day being held in Paris from 9:15 Carrefour will confirm its intention to IPO for its real estate assets, Carrefour Property.The group, which confirmed target growth in turnover and operating profit this year, said the demerger of its business Dia discount stores, whose IPO is scheduled for July 5, will be in the shape of the distribution of a dividend.

Gecina announced Monday that it planned to file a proposed buyout offer followed by a squeeze on the shares of its subsidiary Gecimed, a property company dedicated exclusively to the medical real estate which it owns 98.6% of capital .