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Top of tough week on Wall Street. After opening in a small decrease (-0.1%), the NYSE has widened its losses during the session to close on a net decrease of 1.39% at 10,010 points. The Nasdaq coward 1.56% to 2120 points while the S & P drops 1.47% to 1049 points.

The euphoria that followed the release Friday of the revised figure for growth in the second quarter will not last. Caution has again made its appearance in spite of macroeconomic statistics as bad as expected. Consumption has picked up 0.4% yoy compared to June. It's better than the expected by analysts, who had estimated the consumption growth to 0.3%, according to their median forecast.Spending growth has outpaced that of household income since, according to the ministry, they are divided up by 0.2%, after virtually stagnating in June

The wait has dominated this session because of the flurry of statistics to be published this week. On Tuesday, it will house prices and economic activity in the Chicago area in August and, finally, the consumer confidence that will be published. Wednesday, Thursday and Friday will be dominated by such employment with, successively, the ADP employment figures, entries weekly, and finally figures of unemployment and employment in August.

Waltz of mergers and acquisitions

On the corporate side, the dance of mergers and acquisitions continues. 3by (-2.03% to 31.80 dollars) fall after surge 25% to 32.5 dollars on Friday night.As for his suitors, HP (1.47% to 38.56 U.S. dollars) has increased its prices by 3 27 to $ 30, Dell (1.12% to 12.02 U.S. dollars) has aligned its offer Friday morning about $ 27.

The German manufacturer Infineon Semiconductor announced Monday the sale of his division's wireless, which makes components for mobile phones, the U.S. Intel (-2.23% to 17.96 dollars) for 1.4 billion (nearly 1.1 billion euros).

The CEO of Sanofi-Aventis, which formalized Sunday his intention to acquire U.S. biotech Genzyme (3.39% to 69.91 U.S. dollars) to $ 18.5 billion, said that "a lot of time can still drain "by launching a bid, in an interview with Voices dated Monday. But the board rejected Genzyme Monday unanimously the proposed terms.

The Indian government was to meet Monday officials from the Canadian manufacturer of BlackBerry (RIM: -0.88% to 45.59 U.S. dollars) to try to break the deadlock over access to encrypted data from the phone, on the eve of the ultimatum on blocking two messaging services.

French insurer Axa has reduced by almost half its share in the prestigious investment bank Goldman Sachs (-1.97% to 136.66 U.S. dollars), the center of criticism for his role in the Greek crisis, according to documents the regulatory authority of the U.S. markets (SEC).

The U.S. industrial conglomerate 3M (-1.67% to79, $ 65) announced Monday the acquisition of Cogent group (24.40% to 11.09 dollars) to over 900 million dollars (708 million euros) This represents a premium of nearly 18%. 3M will pay $ 10.50 in effect by title Gogent, which posted a closing price of 8.915 dollars Friday.The transaction should be completed in the last quarter of 2010.

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"A phone call to serve," says UFC-Que Choisir. And when he "suffers indeed an antenna problem," he has little chance of getting favors from the influential consumer association. "While Apple has not fixed the problem other than offering a hull, we can not recommend the terminal," she decided, in an article published Tuesday on the Internet. Consumer Reports, its equivalent in the United States, had reached the same conclusions in early July.

Since then, responses have poured on specialized sites, questioning the UFC-Que Choisir on the accuracy of its benchmarks and its independence. Asked by lefigaro.fr, the Consumers' Association said that its tests are not conducted internally, but "by independent laboratories, according to strict protocols."It'sa huge investment, which requires very expensive equipment," explains Camille Gruhier, author of the article, which boasts one of the "strongest battery of tests" of the press.

So this device as the iPhone has faced four. "In the best case, the sensitivity of the device is better than previous versions," admits Vincent Erpelding, engineering project manager in the UFC-Que Choisir. But a sharp drop in sensitivity of average conditions for receipt, Edge and 3G has been "recognized and quantified, since the phone is held by the left flank around a small black border, his weak point .For this reason, the phone will no longer star in sensitivity in the test published in September in the magazine of the association, and will be decommissioned behind all its competitors.

"We have warned the consumer"

In his defense, however, since Apple says that two weeks all smartphones are affected by a problem identical reception. But other phones, hand-held around their antennas, are much better than the iPhone 4. To ensure this result, the UFC-Que Choisir has tested two other handsets, the Nokia N85 and the iPhone 3G in similar conditions. The numerical results show each time a "small fall" of sensitivity in contact with the antenna, but not in the same proportions as the iPhone 4.

For now, the consumers association has not tested the new phone from Apple by surrounding it with a shell, or by varying the power of the network.Additional tests should be published on the Internet. Apple says the problem arises more in areas where coverage is poor, and would be resolved by adding a protective cover. "The network in Europe is much more successful than the United States. The problems and the risk of making calls will be far fewer, "said Camille Gruhier.

If the UFC-Que Choisir concedes qualities in the iPhone four, including ergonomics, picture and sound, it claims to be in her role does not recommend to his readers. "The choices we made the choice to downgrade is a warning to consumers. You can not tell people that the iPhone is fabulous four, while in some circumstances, they may see their dropped calls, "argues Camille Gruhier. "I do not think that our ranking will drop Apple's sales, but have warned consumers," she concludes.

As in Asia this morning, the CAC 40 has taken great colors on Tuesday. The benchmark index of the Paris closed up 2.73% and finished well beyond 3400 points, 3423 points exactly. Investors changed course in Paris while on Monday, the ACC has approached its lowest level this year at 3332 points (-0.48%).

Elsewhere in Europe, the same trend: the Ibex-35 index of the Madrid Stock Exchange Tuesday ended up 3.59% at 9615 points, strongly supported by banking stocks and the FTSE in London gained 2.93% to 4965 points while in Frankfurt the Dax was 2.15% awarded to 5940 points.

The euro also continues to rise, which was accentuated in session after the publication of an ISM service activities in the United States still above 50. Around 18 heurse, EUO rises from 0.84% to 1.2649 dollar.

Despite this rebound, volatility remains very strong markets.These days, investors were not reassured by the mixed indicators published last week, the United States as in the euro area. The doubts about the speed of global economic recovery weighed increasingly on morale.

On Tuesday afternoon, the markets await the opening of Wall Street may choose to pursue. U.S. markets open again after an extended weekend related to the national holiday. The meeting will begin with the analysis of the PMI services which will be published shortly after the opening. Apart from this indicator, no other major news is expected.

Alstom to

Alstom was up 4.46% to 38.4 euros. The Saudi-French consortium, joining Alstom and SNCF, has in fact likely to report a TGV project in Saudi Arabia.Contract Amount: at least 10 billion dollars according to Philippe Mellier, President and CEO of Alstom.

The rating is also taken up by the rebound in bank Credit Agricole (5.43%), Societe Generale (6.27%) and BNP Paribas (4.23%) are among the highest increases.

Air France (Air France-KLM), which posted a record loss last year, plans to cut 4109 jobs over the period 2010-2012 to meet the air transport crisis. The stock gained 3% to 9.81 euros.

Areva (0.81% to 328.65 euros) should always be led by Anne Lauvergeon. According to sources close to the matter quoted by Agence France Presse, Nicolas Sarkozy has decided to maintain the group's boss at his post until the end of his mandate.Rumors had often reported the contrary.

Also in the nuclear site EPR Flamanville, led by EDF (+1.3% at 30.67 euros) also suffer delays. An audit suggests a period of 24 months. EDF expected to make the announcement soon.

Finally, investors should still respond to the publication by Stephane Richard's strategic plan of France Telecom (2.68% to 14.75 euros) for 5 years. The operator also wishes to reach 300 million customers around the world to this date and hire 10,000 people by 2012.

Please note that Club Med has increased by almost 15% Tuesday.

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

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

Negotiations with Lagardère and Prisa

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

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

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

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

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

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

Municipal Stadium will

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

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

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

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

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Meeting in Brussels, the Heads of States of the euro area have finally approved the activation of the financial assistance plan 110 billion euros to Greece three years. According to several government sources, the leaders have also discussed the establishment of a fund to help countries threatened to defend the euro. The European Commission could contribute in the form of loans to the tune of 70 billion euros. The European Central Bank (ECB) will also participate.

"Attack of the market is now against the euro and individualized assistance to any country may give an insufficient response of Europe, the priority is a unified response, firm and fast," said one in particular these sources on condition of anonymity.

If agreement seems to have been found on Friday on the need to establish a sustainable mechanism for defending the single currency, the heads of states still fail to agree on every detail. "The discussion focuses particularly on the role of the ECB," said a source close to the talks

Pressure on ECB

All eyes are turned to the ECB effect. The other track would be mentioned that the latter buys bonds issued by states of the euro area, to provide them in exchange for cash. According to these same diplomatic sources, the European Commission would currently pressuring the ECB to make sense in a concrete proposal to support the euro area.

On Monday, the ECB announced it would accept the Greek debt as collateral for its loans, regardless of their credit ratings.Extending this unprecedented step for all countries in the euro area "would be a strong signal to markets" would have said the president of the European Commission Jose Manuel Barroso. But on Thursday, the ECB said it had not considered.

Tighten fiscal discipline

The euro zone leaders agree at least on the need to tighten fiscal discipline. A commitment to ensure that "Greece is not only to reduce its deficits, but that we work so that all the Stability and Growth speedy again respected," said German Chancellor Angela Merkel in Brussels.

Leaders also stressed the need for better coordination of economic policies in the euro area.Finally the sixteen Heads of State and Government reiterated their determination to "move quickly on the regulation and supervision of financial markets. They also insist on the creation of "a European rating agency.

Barack Obama supports the EU

Moreover, since the White House is that Barack Obama supported the European heads of state on Friday. "I made it clear that the United States supports these efforts and will continue to cooperate with EU authorities and the IMF during this critical period," he said, after talks with Angela Merkel.

American concerns grew at the same time as the market stress.Wednesday, Charles Plosser, a leader of the U.S. central bank (Fed) has assured that "the economic recovery of the U.S. could be delayed by a further turmoil in financial markets. Recent events in Greece are one of the factors likely to influence the evolution of the U.S. economy. "

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The U.S. stock market lost ground on Friday, all won during the week, and highs from session to session were badly broken. The announcement, shortly after the opening of Wall Street, the SEC, Goldman Sachs, which continues to fraud "Subprime" has dampened global finance.The bank securities were unscrewed from 12.8% to 160.7 million.

The U.S. stock market watchdog, the SEC announced Friday it was suing the U.S. investment bank "fraud" on the sale of investment securities linked to subprime mortgages.

Goldman Sachs and one of its leaders, Fabrice Tourre, are accused of defrauding investors face while making "misleading statements and omitting material facts on certain financial products linked to subprime loans when the market U.S. housing prices began to collapse. "

In the end, the Dow Jones lost 1.13% at 11,019 points, after fielding a sixth straight session Thursday to increase, the Nasdaq drops 1.37% at 2481 points and the S & P 500 1.61% loose in 1192 points.The thresholds symbolic of the 11,000, 2,500 and 1,200 points respectively have been taken down.

Trust settles

Another bad news on the front of the statistics: the U.S. consumer confidence index calculated by the University of Michigan came out in strong decline, to 69.5 in April, the lowest since November last. Economists had forecast about 75, after the index registered 73.6 in March.

Moreover, housing starts in March hit their highest level since November 2008, to 626,000 units annually. The economists had expected 610,000.

Google view

Later publications of the day, Bank America ok fell more than 6% to U.S. $ 18.31 No fax pay day loan. The bank recorded a net profit of 2.83 billion dollars in the first quarter, or 28 cents per share.It is far better than had been expected by analysts.

General Electric has folded, he of 2.62%, to 18.99 dollars while the conglomerate reported net earnings were down 32% to $ 1.87 billion, or 21 cents per share. Again, it's better than expected.

Google announced Thursday after the close of U.S. markets have performed over the first three months of the year a net profit of 1.96 billion dollars, 6.06 dollars per share, against $ 1.42 billion (U.S. $ 4.49 per share) over the same period last year. In the first three months of the year its sales climbed 23%. The securities have stalled, however, of 7.59%, to 551.76 dollars.

A cons-sense, Mattel manages to rise from 0.38% to 23.84 dollars.The world's leading toy has unveiled a profit of 7 cents per share, or 25 million over the first three months of the year.

In addition, the Financial Times, real estate investment fund Whitehall Street International managed by U.S. bank Goldman Sachs has lost almost all its value, or 1.8 billion dollars (1.3 billion euros) .

On Wednesday, the Wall Street Journal revealed that another major U.S. bank Morgan Stanley had lost 5.4 billion dollars (3.95 billion euros) in investment properties, including the headquarters of the European Central Bank Germany.

Always on the side of values, yesterday, UPS, considered a good barometer of economic activity in the United States, announced a sharp rise in profits.

Less foreign visitors in France, under French abroad. Like all other sectors, the tourism industry (6.4% of GDP) has been overtaken by the economic crisis. If some 74 million visitors have crossed the borders of France last year that attendance has shown a decline of 6% compared to 2008.

The British (-17.3%), Spaniards (10%) and Americans (10%) were abandoned by France, who still remains the premier tourist destination.

The balance of payments deteriorated sector. Indeed, if the parties are less French tourists, foreigners have spent less. The surplus thus fell to 7.4 billion in 2009, against 8.5 billion a year earlier and 12.8 billion in 2007 loan payday instant.

The balance of payments deteriorated sector.Indeed, if the parties are less French tourists, foreigners have spent less. The surplus thus fell to 7.4 billion in 2009, against 8.5 billion a year earlier and 12.8 billion in 2007.

The hotel industry has suffered a decline in attendance of 4.9% in 2009 with a decline of 11% just for foreign customers.

The situation was particularly bad in the overseas territories: the attendance of the hotel fell 19.4%. A severe decline that experts say the crisis, but also by the general strike occurred in the Caribbean.

A method agreement was reached between the employees of the plant equipment to automotive Sodimatex Crepy-en-Valois (70 km north of Paris), who threatened to blow up their factory to demand better redundancy, and management, has announced the Prefect of the Oise in the overnight Friday to Saturday.

The unions pledged to "defuse" the gas tank they threatened to burn down and destroy them in exchange for "guarantees" on the smooth progress of negotiations with management, including extra-legal premiums that start 'they ask. On Wednesday, they will meet to negotiate with management, sub-prefecture of Senlis (Oise).

The employees threatened since Thursday set fire to a tank of gas that might blow up the factory.They had prepared Molotov cocktails on Friday morning around the tank nearly five meters long, including gas used to supply forklifts.

"It's not over"

"The MoU is signed, the conciliation process restarts and threats against the company stop", announced to the press the Prefect of the Oise Nicolas Desforges, who chaired the negotiations meeting late into the night No teletrack payday loan. "It's not over, but warned Patrick Testar, spokesman of the Inter. If Wednesday is unable to positive developments, we made clear our prefect is unplugged just the detonator, that's all. "

The employees demanded such a premium extra-legal dismissal of 21,000 euros, similar to what had affected their colleagues from another plant Sodimatex closed in 2006.Two auditors, one appointed by management and the other by the council, must peel the group's accounts and decide on requests of employees regarding severance pay, "said Herv? Mallet of the 'Inter. A conciliator will collect the opinions of two Commissioners and its finding that the state was "committed to promote," says Herv? Mallet.

After leaving very angry the table shortly before 20h, the workers decided to resume talks to try to 22h to reach an agreement improving conditions for departure of 92 employees, including site closure is scheduled for a year.

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Who would have thought that a small economy could disturb the Mediterranean world power? Yet, a leader of the Fed, the U.S. central bank expressed concern about the effects of the crisis on the Greek United States. "I see three ways in which the Greek crisis could directly affect the economy of the United States," said Dennis Lockhart, a patron of the Atlanta Fed on Monday night.

Greece, attracting the attention of investors on the debt of European countries, could accelerate the introduction of austerity policies in Europe.An ominous prospect for U.S. exports, according to Lockhart: "If the countries of the European Union would provide for adjustments to budget problems, this could hinder the growth of the eurozone and U.S. exports to this region .

Second concern for the head of the Fed, the dollar's rise against the euro. The single currency is weakened by the Greek crisis, investors have been particularly its decline in January and February bad credit payday advance . Mechanical consequence down the euro, the dollar rises, which could "undermine the competitiveness of U.S. exports," according to Dennis Lockhart.

"The third [of concern] is the possibility that the Greek budget crisis leads to a large impact on financial markets.This could occur in the banking system or as a retreat General [investors] the debt market states ", has alarmed the leadership of the Fed.

These three concerns, first expressed by the Fed intervene to three days of the European Council of Heads of State and Government. The President of the European Commission Jose Manuel Barroso, has called in an interview with the Financial Times European leaders to show "solidarity" against Greece. This latest threat to resort to the International Monetary Fund if there is no mechanism in place.

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