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The meeting between German Chancellor Angela Merkel with British Prime Minister Cameron, far from marking a reconciliation, a deed the differences between the two countries on the edges of Europe. Despite the cordial declarations of the two heads of government, differences on the issue of saving the euro continues. "Germany's interests, Britain has its own," acknowledged David Cameron at the end of the meeting.

The issues are still there and no solution in sight, the Chancellor conceded. Britain still refuses the idea of ​​a tax on financial transactions, supported by Paris and Berlin, because it severely handicap the City of London. On the issue of greater involvement of the European Central Bank to resolve the crisis of the euro, which promotes London, the German chancellor has proved inflexible.

In this year financially troubled employees rely on corporate savings to rebuild their nest eggs. This is apparent from a study conducted by the CSA institute for the Club of employee savings.

Over the last twelve months, more than half of the beneficiaries of employee savings invested 12% of their pay. A percentage much higher than previous years.

"Employees are concerned about the consequences of the financial crisis. 40% of them plan to evolve their total savings, "says Henry Alline, president of the Club of employee savings. More than half (55%) of respondents in this study say they are satisfied for the moment the financial performance of their business investment. But they were 59% a year ago flexcheck cash advance.

As is the case for several years, employees save for retirement.Over the last twelve months, two thirds of employees and supports a PEE (company savings plan). This device, like Perco Plan (retirement savings plan), allows to build a long-term savings. It is powered by matching contributions from the employer or employee payments can spend up to a quarter of his annual salary.

Provided they meet the minimum capital funds (5 years for the EEP and until retirement for Perco), the yields of these products (dividends, capital gains) are exempt from tax income. This explains the growing success of these formulas, still reserved for the privileged. For 70% of employees do not have access to employee savings plan.

Noting with relief progress in the transition of Italy and Greece, the U.S. stock markets should continue their momentum on Friday. The Dow Jones moving up 1.06% to 12,030.21 points, the S & P rose 1.40% to 1257.10 points and the Nasdaq, 1.18% to 2656.10 points.

Illustration of this calming the markets, interest rates and French italients relax. Relaxing on the European bond market begins today in the morning with both a decline in rate to 10 years in Italy, far below the 7% and a reduction in the yield spread between 10-year Germany and France with 159 points.

In Greece, the new Prime Minister Evangelos Lucas Papademos renewed Véniélos Finance. In Italy, the Senate passed the economic measures promised to the European Union, until the House of Representatives to do in turn.Which would open the door at the start of Silvio Berlusconi is expected to replace the former European Commissioner Mario Monti.

The market welcomed the strong performance of Disney

Oil prices rose slightly at the opening Friday in New York, watching the market with relief progress in the transition to the head of Italy and Greece. Around 3:10 p.m. (Paris time) on the New York Mercantile Exchange, a barrel of "light sweet crude" for December delivery traded at 98.06 dollars, up 28 cents from the previous day.

On the foreign exchange market, the euro gained ground against the dollar Friday, supported by renewed hope on the situation in the eurozone, currency traders who are particularly reassured by the evolution of the political situation in Italy, which is expected to succeed Mario Monti Silvio Berlusconi.

After three days of failure and silence, it is time for excuses at RIM, the maker of BlackBerry smartphones. Mike Lazaridis, the founder of the group, announced yesterday mid-afternoon recovery of e-mails and the Internet and especially apologized in a video.

It is not clear that this is sufficient to restore the trust of those customers who have been touted for years the irreproachable quality of service of BlackBerry. The damage is considerable.For nearly four days, the vast majority of the 70 million BlackBerry circulating in the world have been very long breaks in services.

This failure is striking for its breadth and comes at the worst time, when the company was criticized by shareholders and that its rival Apple released the iPhone 4S.

"We can compare this failure which occurred earlier this year Sony with piracy data bank. The service was not affected, but it aroused the same loss of customer confidence. In both cases, the credibility in terms of brand image is reached ", e xplique Jean-Michel Huet, managing partner of the firm Bearing Point. To cope, it is necessary not only that RIM do his mea culpa, possibly to indemnify customers and above all it gives the guarantee that this will not happen again. "There are three or four years, the Bouygues Telecom network had broken down.They had compensated the customers by offering a day pass, "he recounts.

For now, RIM could face significant financial claims. Vodafone, Telefonica (Spain), Emirates Telecommunications plan to compensate their subscribers and then to turn against BlackBerry. Operators might be less generous in their grants to buy a BlackBerry, frustrated by having to manage "a deluge of calls on line pay day loans."

Captive customers

However, RIM has the advantage that some of its customers are captive: companies will not change their entire fleet of mobile overnight, and individuals are often under commitment and can not change your mobile. The Canadian manufacturer has a little time to regain the trust of its customers. But not all."There are already companies that are considering leaving RIM and wonder about its reliability," says Carolina Milanesi, an analyst at Gartner.

This failure could also hinder the development of RIM in emerging markets. The group is just beginning to establish itself in India, one of the countries most affected by the bug! To compensate for the decline in sales in the United States and Canada, the manufacturer decided to focus on these countries.

In addition, the group's management is facing a serious crisis of confidence that will get better because of the difficulties of society. Last quarter, sales fell 19% to 10 million smartphones, while its net income was divided by more than two, to 329 million, for a turnover down 10% in one year at $ 4.2 billion.Some shareholders, including investment funds, require a change of direction or a sale of the group. The problems this week, compounded by the lack of communication of the group at the beginning of the week, fueling discontent. Yesterday, the title yielded 3.43% at the opening of Wall Street, a decline of over 60% year on year.

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The contract whopping 42.6 million euros a year signed between the French Football Federation (FFF) and Nike Will it deflate like an old windbag? Girls Team France soccer unwittingly gave a good penknife into the balloon in qualifying, against all odds, for the 2012 Olympic Games.

Background: In 2008, The Christmas Graët, then vice-president of the FFF, signs the "Contract of the Century" with Nike: 320 million for the period 2011-2018. This negotiation will be the argument of his election as president. At that price, the Graët sells equipment for national teams.And bang, that the France team that female become pampered football in France, makes his way to the London Games guaranteed high risk personal loans.

Problem: all the French Olympic teams – football, basketball, athletics – must participate in the Olympic Games under the banner of Adidas, the equipment of the National Olympic Committee of French sport (CNOSF). This did not escape the law of Nike, which, according to RMC, call … € 10 million for breach of contract! The CNOSF, attacked on his prerogatives and paid by Adidas, will not compromise. Nike either. One of two things: either the new president of the FFF "sold" which does not belong to him or he had bet on the failure of the Blue qualifications.Charles Gautier

(Special Envoy to Florence)

The tax collectors, 1540, Marinus van Reymerswaele personal business card. (Florence, Museo Stibbert)

After still closed down Thursday night, the U.S. stock markets could take a break this Friday. Shortly before the opening of Wall Street index futures Standard & Poor's 500 and Nasdaq 100, respectively, yielded 0.38% at 1199.60 points, 0.31% to 2277 points. The Dow Jones was meanwhile expected on an initial decline of 0.32% at 11,339 points.

The previous day, U.S. markets had progressed further in spite of macroeconomic indicators, however misguided, both on the employment front, and that of manufacturing.

But investors have ignored, preferring to focus on reassuring news from Europe, as the announcement of a new agreement between central banks to provide dollar liquidity to European banks and Japanese. "This program already exists, say the analysts at Aurel BGC.The ECB offered this week, two European banks to dollar liquidity in 7 days "

Suddenly, the "four witches" today is to say the expiration of four types of futures contracts on indices and stocks, "will be addressed, according to Aurel BGC in a more serene. Recent events have reassured investors and market expectations about European officials said after the meeting of the Ecofin support actions ".

U.S. consumer debt and European

At the macroeconomic agenda of the day, the index of consumer sentiment for the month of September is expected this afternoon, 12:00 to 3:55 p.m..But such macroeconomic indicators may well be once again overshadowed by political events related to the debt crisis and European banks.

Indeed, this Friday as European finance ministers and the U.S. Treasury Secretary Timothy Geithner, this exceptional, try to resolve their differences at a meeting of high voltage in Poland. This is to complete a second plan of aid to Greece, imperative to save the country and the euro area, whose failing health is in turmoil the entire planet.Timothy Geithner has already openly believed that Europeans should inject more funds to avoid a major crisis.

On the corporate side, the rating agency Moody's said Thursday it placed under surveillance notes of the bank UBS (-10% yesterday at the close of Wall Street) with for a potential degradation due to " weaknesses in risk management group. "

At the heart of the news, Google has purchased 1023 additional patents in the computer company IBM to consolidate its portfolio and to attempt to dissuade trial for violation of intellectual property.Google expects the other hand that the number of Internet users in India to be tripled in three years through improved access to wireless internet and at prices more affordable smartphone, reported on Friday Wall Street Journal.

Boeing could finally respond to the order by Air France-KLM of 110 long-haul aircraft, including 50 firm orders, builders Boeing and European Airbus to ensure fleet renewal.

Since the beginning of the week, the Paris Stock Exchange began its session on a positive note from 0.62% to 3179.21 points, having closed at the balance Tuesday night. Like the Asian markets, the benchmark index of the Paris market is supported by the slight increase in U.S. markets, reassured by the Federal Reserve. Investors are indeed more and more convinced of the willingness yesterday by the U.S. central bank to act to restore growth.

In addition, the Atlantic, financial markets are close to their level of January 1, which could be an equilibrium point. Also an element of support for the Paris Bourse, even if it is far from that level (3847.63 points Jan. 3, 2011).

Chapter macroeconomic, investors will take 12 hours of knowledge in agricultural price indices in July.United States, the employment figures for August will be published in the early afternoon followed by the index of industrial activity in the Chicago area and industrial orders in July and stocks crude oil.

On the currency front, having been an upward trend since the beginning of the week, the euro fell slightly against the dollar on Wednesday after the announcement Tuesday in a poor indicator of the European economy weighed on the currency European. At about 8 am in Paris, the European currency was worth 1.4428 dollars against 1.4437 dollars late Tuesday.

Values ​​to follow

In a market with relatively low volumes since the beginning of the week is a new salvo of publication of results, broadly in line with expectations, that drives the third weekly session.

In particular Bouygues strongly supports the trend.After a brief suspsendu scoring the opening, the title of group jumped 10% to 25.40 euros. The conglomerate has finally published its results on Wednesday, not Tuesday reported on the acquisition of 11.7% of its shares for 1.25 billion euros, a 30% premium over the closing price of the security last night. In addition, the group published a half-year net profit down 27% to 391 million euros.

Similarly, Vivendi (4.17% to 16.85 euros) said it had doubled its half-year net profit to 2.5 billion euros, with a net gain of $ 1.2 billion related to the settlement of a dispute over the PTC shares in Poland.Its subsidiary, Canal +, 80% owned by Vivendi, reported first half sales of 2.39 billion euros, up 2.8% year on year, operating profit increasing by 1, 9% over this period payday loans lenders.

In turn, Carrefour is the sentence (-4.24% to 17.85 euros), after the group announced a net loss of 249 million euros in its first half. Above all, the group has revised downwards its forecasts, expects 15% drop in its earnings.

Last night, L'Oreal (-2.83% to 74.83 euros) has reported an increase in operating profit of only 2% to 1.70 billion euros in the first half.Its operating margin for its part fell 50 basis points to 16.8%, while analysts expected an increase, on average expected a figure of 17.5%.

Vinci (0.63% to 35.76 euros) for registration in the first half net profit up 15.7% year on year and raised its annual forecast.

Cac 40 off the healthy group Hermes (1.13% to 267.95 euros) is confirmed.The specialist luxury published net income up 49.5% to 290.9 million euros.

Bolloré (0.38% to 158.60 euros) saw its net profit grow by 29%, boosted by a gain from the sale of shares of the maker of seamless steel tubes Vallourec.

For its part, Havas (.98% to 2.779 euro) announced net income up 8% in the first half thanks to an improved operating margin.

Aéroports de Paris (-0.37% to 56.64 euros) it has slightly lowered its forecast for fiscal 2011.

Hi-media (-7.26 euros, 3.32 euros) back into the green in the first half, revealing a net profit of 5.1 million euros.

For its part, the oil reacts little to the continued rise in oil prices, and the strategic agreement signed between Rosneft and will explore together the Arctic and as such invest $ 3.2 billion.Technip s'ajduge 0.66% to 65.40 euros and total advance of a small 0.54%, to 33.34 euros.

For its part, Bourbon wins 0.84%, to 22.68 euros. The oil services specialist maritime published a group net profit halved in the first half, to 41 million euros, but put on a recovery in the offshore oil and gas. It also confirms the objectives of its 2011-2015 plan.

Note that Ruby, Mersen (ex-Carbone Lorraine), April, Lagardère, Outremer Telecom, Eiffage, Stef-TFE, Fleury Michon, Bongrain, GFI Informatique, Gameloft, Sopra, Virbac, Reculex, Mr. Bricolage and reveal their Guyenne et Gascogne half-year after the stock market.

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It is an agreement to both the financial and industrial software publisher based in Sophia-Antipolis, near Nice, has just concluded. The Japanese company Canon will spend 8.6 million euros to acquire 15% stake in publicly traded small business since mid-May By the way, he brings 2 million additional cash.

But it is mostly a vast geographical diversification and access to complementary technologies that the Japanese manufacturer of cameras and office systems gives Median Technologies. "Canon is located around the world and is highly complementary to our society in the imagery. It offers solutions such as MRI, while the expertise of Median Technologies is rather centered on the scanner.He also has a data management activities ("Data Management"), which will facilitate the deployment of our offer cloud computing ("computing pooled at a distance"), "said Fredrik Brag, founder and CEO of the company founded in 2002 .

Canon has already invested in Supersonic

Median develops software for interpretation of medical images in two and three dimensions to facilitate the detection, diagnosis and monitoring of cancers. LMS solutions, approved by the Health Authority (FDA), are already used in hundreds of hospitals in Europe, the United States, Australia, Korea. Median Technologies installs but also in the market for clinical trials conducted by major laboratories."Our solutions help them to evaluate responses to treatment at first and then develop tests companions (of tests to segment the profile of patients)," said Fredrik Brag. The SME has already reached an agreement with three of the ten leading pharmaceutical companies and preparing to sign a new contract with another giant before expanding its outreach to other health actors. Its sales – which amounted to only 1.1 million euros last year – to more than triple within the next two years and then explode.

Canon, whose 2010 revenues totaled $ 45.8 billion, relies heavily on imaging in the health sector. The Japanese giant announced earlier this year it would invest $ 9 billion by 2015 in medical technology companies.Before turning to Median, in December he participated in fund raising 34.5 million euros in Supersonic Imagine, a small d'Aix-en-Provence who has developed an ultrasound system to ultrasound.

The Paris market continues to fall on Thursday, a reflection of what has been observed in Asian markets this morning and the decline in U.S. indices yesterday. Wednesday evening, the Cac 40 lost 0.15% and ended at 3871.37 points in a very dynamic market, with over 7.1 billion traded on the benchmark index of the Paris Bourse. And on Thursday, sitting in the middle of the index still declined 1.34% to 3819.50 points.

PMI purchasing managers in the euro area fell in June to its lowest for twenty months to 53.6 points, confirming a slowdown in European economic activity.The growth of private sector activity in France has slowed more than expected in June.

European side, European leaders find themselves on Thursday night in Brussels at a summit to try to reassure their ability to stem the endless debt crisis in Greece and prevent contagion throughout the euro area, which worries more and more abroad. Other items on the agenda: the confirmation of the appointment in November of the Italian Mario Draghi as President of the ECB to replace Jean-Claude Trichet.

The publication of the memo on the economy of France, to be released at 22 o'clock tonight, will be watching. In addition, the G20 agricultural ends today. In addition, Christine Lagarde, a candidate for the general direction of the International Monetary Fund (IMF), spends his oral exam today in Washington.The maintenance of his rival, Mexico's Agustin Carstens, was held Tuesday.

United States, a report by the Congressional Budget Office (CBO) on Wednesday warned against an explosion of net public debt, which can reach 100% of GDP by 2021 if nothing is done to correct the current trajectory. In addition, the U.S. central bank is now focusing on a GDP increase of less than 3% in the fourth quarter. New measures could be considered if the economic situation deteriorated.

On the currency markets, the euro fell sharply against the dollar on Thursday, as the market digested the Fed announcements. The single European currency was worth 1.4254 dollars against 1.4349 late Wednesday.

EDF denies

The CAC 40, only Pernod Ricard rises in green: + 0.06% to 66.49 euros.But in the SBF 120, Lagardère stands: + 2.33% to 27.40 euros. Areva takes him 0.59% to 25.50 euros.

Side drops, banks suffer: BNP Paribas lost 1.86%, 1.69% Societe Generale, Credit Agricole and Natixis 2.1% 2.08% while trades a private sector participation to a new aid plan to Greece. European banks resisted, however, a defect in Greece, according to Bernard de Longevialle, head of bank ratings at Standard & Poor's. Note that BNP Paribas bought 25% of Findomestic to the bank Intesa Sanpaolo for 629 million euros and now holds 100%.

EDF (-1.23% to 25.78 euros), which plunged 3% yesterday at the meeting, had to deny rumors of leaks in nuclear plants in France instant credit reports.The CGT has nevertheless confirmed that called for an end of a reactor at the plant in Seine-Maritime Paluel due to extraordinary levels of radioactivity. The electrician has admitted it yesterday "an accumulation of small differences" after the publication of an article Mediapart citing incidents in series.

In addition, the dean of French nuclear reactors, the central Fessenheim, would be allowed in the coming days to continue to operate for ten years.

EDF is also increased to 96.71% of share capital and voting rights of EDF Energies Nouvelles after the public offer launched on its subsidiary, announced Thursday the AMF in a statement.

EADS (1.30% to 22.14 euros).The low-cost Malaysian airline AirAsia has placed a firm order for 200 Airbus A320 Neo, a record in civil aviation in the number of devices including vendus.Grâce this mega-contract, the total firm orders for Airbus is to about $ 58 billion for 621 aircraft. The buyers of the Airbus A400M signed a framework agreement on the development and maintenance of the fleet of the future military transport aircraft. Furthermore, after signing an order for sixteen billion dollars with Indigo.American Airlines could also favor the European aircraft manufacturer at the expense of its rival Boeing.

Air France-KLM lost 2.06% to 10.21 euros.

Dassault Systemes (-0.96% to 57.18 euros, the largest decline rating) expects a double-digit increase in sales in the aerospace and defense between 2010 and 2014 thanks to the many innovations offered by these sectors, Reuters said Wednesday its chief executive Bernard Charles said in an interview.

Automobile manufacturers seek to diversify their income and increase customer loyalty.

Peugeot (-0.40% to 29.77 euros) PSA installed production capacity that should allow it to manufacture more than 30,000 hybrid vehicles per year, reports La Tribune. "At Sochaux, we expect a potential of 70 to 80 units per day," says Serge Isler, project 3008 Peugeot hybrid.In addition, PSA has manufactured in Rennes, Brittany, just over 15,000 Peugeot 508 equipped with the same technology, the paper said.

The vaccine against typhoid Sanofi (-0.36% to 52.63 euros) was granted the status of "prequalification" of the World Health Organization (WHO), prior to its use by UNICEF and other international agencies, a first for a vaccine of this type, the group announced Thursday.

PPR (-0.60% to 116.80 euros) holds 87.4% of the U.S. manufacturer of sports clothing Volcom at the end of its tender offer (OPA) is friendly and able to reach 90% capital by playing an option, according to a statement released Thursday by the French group.

"COMPETITION – Estimate the Cac 40 in late June

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