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After closing down on Monday evening – the Dow has sold 0.38% to 10,174.4 points – Wall Street did not find this Tuesday, opportunities to redress the balance. Instead, the only indicator fell to 16 hours, is extremely disquieting: Sales of existing homes fell to its lowest level since 1995, to 3.83 million annual rate transactions, according to figures released Tuesday by the National Association of Realtors (NAR).

Upon publication of this indicator, Wall Street has plunged into the red, losing 1.48% to 4:10 p.m. at 10,024 points for the Dow Jones, which amounts to huge step towards the symbolic threshold of 10,000 points.

The broader S & P drops 1.61% at 1050 points and the Nasdaq, which includes technology stocks, yields 1.85% to 2120 points.

It was not until Wednesday to expect an improvement, both on the side of the promises of new home sales and durable goods orders.

Mergers and acquisitions are in full swing

If the bears seem to win now, but Wall Street is torn between the potential positive effects of mergers and acquisitions that animates it and the threats still facing strong economic recovery.

BHP Billiton (-1.94% to 65.83 dollars) is expected to announce on Wednesday a 50% jump in interim profits and strong cash flow with which it hopes to deter potential rivals to make an offer to buy out-cons the Canadian Potash Yet seeking a white knight eventually China.

The French pharmaceutical company Sanofi-Aventis and the U.S. biotech group Genzyme (-0.87% to 67.13 dollars) abut on the determination of a minimum price that would initiate the first comprehensive review of its accounts Target said Tuesday the Wall Street Journal in one hour payday loans.

If Genzyme and Sanofi seem to disagree on the French laboratory's initial offer to buy out U.S. biotech company, however the purchase of McAfee (-0.15% to 47.03 U.S. dollars) Intel (-1.02% to 18.51 U.S. $) continues to fascinate, like the stock market battle between HP and Dell in the acquisition of data storage specialist 3PAR.

The world of mobile phones, Nokia, and the giant American world of microprocessors Intel unveiled on Tuesday a joint research laboratory in central western Finland, they said.

American Apparel (-10.8% to $ 0.66), definitely ailing feared not being able to publish its quarterly results on time and to be delisted.

Disney (-1.70% to 32.37 dollars) could also react to statements yonni Sebbag, the boyfriend of a former employee of the giant media and entertainment Disney, who pleaded guilty to securities fraud Monday after stealing with his partner, financial records of the company and tried to sell to investors.

The dollar to its lowest against the yen

On the currency front, the dollar continued its fall Tuesday against the Japanese yen, down from 9:20 to its lowest level in 15 years, to come punctually at 84.14 yen, immediately after a briefing from the Minister of Finance , Yoshihiko Noda.

Accor is ahead of schedule of asset sales. On Monday, the hotel group announced the sale of the walls of 48 hotels for 367 million euros. The real estate transaction, Accor calls "major in Europe, which should be finalized by the end of 2010, includes 31 hotels in France, 10 in Belgium and 7 in Germany, for a total 6,300 rooms. It concerns 28 Etap hotels, 13 Ibis, Novotel and a SuiteNovotel 6.

These hotels will continue to be managed by the group under the same signs – there are 28 Etap Hotel, 13 Ibis, Novotel and SuiteNovotel 6 – under a variable lease for a period of 12 years renewable 6 times Accor's initiative, or 84 years total. The average rent will be equal to 19% of turnover.On the basis of turnover in 2009, the rent would amount to 22.4 million euros according to Accor.

Under the lease, the new owner will assume responsibility for structural maintenance investments in hotels, insurance costs and property taxes.

The deal includes a renewal program of 47.6 million euros, 33 million euros financed by the acquirer, thus enabling Accor to accelerate the deployment of new generations of rooms Etap and Ibis in a forty establishments.

Chief objective of reducing debt exceeded

This operation, carried out for 80% of the amount from the insurer Predica (a subsidiary of Crédit Agricole) and the balance at the corporation Walls Land (Land subsidiary of Regions), will have a positive aimpact 282 million euros 2010 net debt of the hotel group and three million euros per year on its profit before tax.

The group had announced in May a program to dispose of hotel assets amounting to 2 billion euros over the period 2010-2013. He then indicated that such transactions were to reduce its debt of around 450 million euros in 2010 alone and more than half of that amount had already been the subject of transfer agreements.

With 282 million euros announced today, Accor therefore exceeds its annual target of reducing debt.

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The winners of the FIFA World Cup are Spain, Sony, Adidas and Coca-Cola. Just as some teams were able to shine on the ground (Spain, world champion Germany, third, and some emerging countries) and others have left without glory (England, Italy, France, Brazil, Argentina), three brands have also won their World Cup. Sony takes the lead of companies with the most invested in advertising during the World Cup, Adidas has created the greatest impact in terms of sponsorship, and Coca-Cola was the brand most remembered by the French, according to a study published by KantarSport (ex-TNS Sport).

Net loss of 32 million euros for TF1

But if there is a figure to be learned from this study, the total advertising investment for French television: 101.08 million euros, barely two million more than in 2006 .What to surprising when one remembers that the team had reached France to the final four years ago. "Comparatively, this represents very nearly the equivalent of television advertising budget for Renault in 2009," Bruno said Lalande, director of studies pole KantarSport information.

The estimated advertising revenue earned by TF1 to about 55 million euros for a total investment of 87 million euros. Consider a net loss of approximately 32 million euros. "This loss is largely offset by record audiences drawn by the chain during the first two games of Team France," relativize Bruno Lalande. These two games against Uruguay and Mexico, which ended in a draw and a defeat for the Blues, had met respectively 14.9 million and 15.2 million viewers.And it is precisely the day the place these two games as the highest advertising investments have been made: 8.5 million euros on June 11 and 8 million euros on June 17 Although the final between Spain and Germany has generated "only" 7.5 million euros of investment in advertising for French television.

Sony takes advantage of the strategy of French Games

If one goes into more detail, Sony happens then top advertisers with the most invested in advertising during the World Cup with a total of 8.6 million euros, including 1.9 million after the group stage quick pay day loan. The Japanese brand ahead PMU (6.2 million) and McDonald's (5.4 million euros). The French Games that had happened in the lead after the first round does not even appear in the top 10."The French Games invests in advertising for the knock-out stages. The group had to achieve its objectives through the opening of the market for online games, "said Bruno Lalande.

In the war between suppliers, Adidas beat his perennial rival, Nike. "Adidas, with its visibility and paneled field teams, has provided benefits in terms of sponsorship, the equivalent of a global TV campaign with more than 250,000 30-second spots in over 210 countries. The victory of Spain for Adidas unleashed a veritable fireworks display media, "says Bruno Lalande. The icing on the cake sponsor this on television around the field when the final goal of Iniesta is another Adidas. Evidence that the supplier to the three bands can live without the France team. "The loss of the contract of the Blues is far from being a tragedy for Adidas.Quite the opposite, "says academic director of the pole information KantarSport.

Communications Coca-Cola bears fruit

Finally, the French brand that combines the most to the World Cup is Coca-Cola (57.96% of votes), ahead of Adidas (46.39%) and McDonald's (41.43%). Unsurprisingly? "Not that much, answered Bruno Lalande. For ten years we carry out these surveys, Coca-Cola was still behind Adidas. The powerful device of communication including the U.S. group via Youtube bearing fruit, as its survival as a sponsor of sport and World Cup soccer, "says Bruno Lalande.

Last but not least: media monitoring of the World Cup by the French. Contrary to what one might have thought, only 4% of French have followed the event via the Internet (Facebook, YouTube …) against over 64% watching television."The early elimination of the Blues had an impact on the consumption of the French media, which has significantly slowed the use of other media including Internet," says Bruno Lalande. Once the team he supports is removed, the fan tends to be less reactive to turn to the media like the Internet.

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The Federal Reserve took action Wednesday in a hesitant economic recovery in the United States by renewing its commitment to keep rates unusually low for an extended period. The Fed funds rate has been maintained in a range from 0% to 0.25%, which it has not budged since December 2008.

In his statement issued after a two-day meeting, the central bank is lowering its assessment of the pace of recovery, revealing pockets of weakness. It also is cautious about the volatility of financial markets, given the debt crisis in Europe. But she still insists that the economy will emerge gradually from the worst recession it has seen in decades.

"The financial support under the overall economic growth, which mainly reflects what is happening abroad," the Fed said in its statement.

The Fed President Thomas Hoenig, Kansas City has expressed its disapproval for the fourth consecutive time, holding that the commitment of the Fed to keep rates ultra low long could perpetuate a cycle of alternating periods of high growth phases and depression.

Realtors Falters

The Fed also notes that the economic recovery is underway. But short of what she observed in April, when she said that the economy continued to strengthen.

The monetary authorities have also noted a slowdown became evident in real estate. In April, it was noted that one starts to straighten. On Wednesday, they simply say that these starts "remain at a depressed level. It is true that the indicators are really not good. On Wednesday, new home sales for May fell 32%.This unprecedented decline in new home sales in May reduced to little hopes of a speedy resumption of growth.

As for consumer spending, the central bank said they "are increasing but remain constrained by high unemployment, modest revenue growth and a decrease in the rich heritage." In April, the Fed had referred to an acceleration of these costs.

The Fed also notes a recent slowdown in inflation, citing a drop in prices of energy and other resources.

Most economists believe the next move on interest rates will be higher but some of them say the central bank should consider other ways to boost growth and credit. What must be added the problems of the debt in Europe and the employment indicators also disappointing.

The U.S. administration smiles again. On leaving the G20 meeting in Washington Friday, Timothy Geitner has been shown. The Treasury secretary now considers that the recovery in the United Etatx will be driven by the private sector in 2011, implying that the economy will need at that time a support plan. "We are quite certain," he assured.

This is the first time since the end of the U.S. recession in the summer of 2009 that an American official raised the possibility of autonomous growth in the United States. In his speech, the more optimistic on the U.S. economy in mid-April, the central bank chairman Ben Bernanke had told Congress that the recent economic evidence "suggests that the increase in final demand would be sufficient to ensure recovery Economic moderate in coming quarters. "He did not, however, ventured to advance a date for a possible self-sustaining recovery.

These perspectives on the future economic conditions are more optimistic than the Treasury Secretary has made since his arrival at this position in January 2009. They are based mainly on economic indicators better than expected since the beginning of April.

Deficit

Asked how the administration intends to reach its deficit reduction monster, Timothy Geithner has again shown reassuring. According to him, Washington has promised to focus on deficit reduction in 2011. A date that coincides precisely with the arrival of a real growth driven by private sector efforts to lessen the fiscal stimulus.The U.S. deficit reached yet about 10% of GDP in 2008-2009 and could rise to 10.6% for the current fiscal year, which ends in late September.

In this regard, the U.S. Treasury Department said Friday in a letter to the chairmen of both houses of Congress and heads of the parliamentary opposition, that he saw sharply lower its estimate of the total cost of all measures rescue the financial sector taken by federal authorities since the beginning of the crisis. The ministry is now talking to a maximum of $ 87 billion, less than 1% of GDP.

Program to support the liquidity the Fed rescue of AIG, Chrysler and General Motors, through the aid homeowners in distress a year ago, the Treasury estimated that the losses of the state would reach 500 billion dollars, or 3.5% of GDP."This means that the federal budget deficit and public debt will be substantially below what was expected before," the Treasury.

The return of job creation

On the employment front, the optimism is also relevant. "Next month, I think we will create between 100,000 and 200,000 jobs," said Vice President Joe Biden on Friday during a trip to Pennsylvania. "At the White House, some say to me: 'do not you progress too'. Well, I'm here to tell you that in the coming months we will create between 250,000 and 500,000 jobs per month, "he added.

For now, the unemployment rate remains high at 9.7% of the workforce. "I'll tell you something, folks. We have not stumbled badly in the fall.As well we have designed our plan to end the crisis, we have a lot of good news on the road to recovery, "assured Joe Biden.

These statements come as the U.S. economy has created jobs in March in a way never seen for three years: 162,000 net jobs were created this month, according to figures from the Labor Department. The country began to "see the end of the tunnel," according to President Barack Obama.

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Jean-Francois Cope takes the hand. The President of the UMP group in the Assembly will announce Wednesday its intention to file a bill to keep advertising on satellite TV in France before 20 hours. This announcement will be made at the symposium held at the National Assembly on public television and the abolition of advertising. This roundtable sought by the president of the Cultural Affairs Committee, Michele Tabarot, was meant "to work to refine the national representation point of view on a subject that has evolved very quickly."

Before launching this initiative, Jean-Francois Cope has met on Friday, members of the committee that prepared the 2008 reform of public television.This work had led to the passing of the Act of March 2009 confirming the decision of publicity after 20 hours on France Televisions in January 2009 and provides fully stopped in late 2011 after the passage of any television digital.

"On Friday, the committee welcomed the strong record of reform. On Wednesday, the consensus is that advertising is kept during the day on France Televisions for we have achieved a satisfactory balance for both viewers who appreciate the stop advertising after 20 hours and for public finances, "explains Jean-Francois Cope. How to reverse the legislation? "I had the intuition to propose a clause in the law revoyure to the point before the end of 2011 to initiate the complete removal of advertising," he says."In the legislative framework for co, we will propose a bill to keep the advertisement before 20 hours. This project could be voted on before the end of 2010. "

Securing the financing of audiovisual

For months, many voices to keep advertising during the day. The UMP Christian Kert's been mentioned in the "Media Buzz Orange-Le Figaro in October 2009 cash till payday. For Vice-President of the Cultural Committee of the National Assembly, it is "sustainable financing of public broadcasting while the tax on ISPs could be challenged by Brussels, and that on private channels is increased from 3 to 0.5% of their advertising revenue. It could therefore be missed around 380 million euros, a sum that advertising brings day Wednesday.Keep it avoids contributing to the French royalty or via the state budget. "In a context of fiscal deficit, a consensus will emerge on the maintenance of advertising before 20 hours," says Franck Riester, UMP.

A position that completely refutes the government. The idea that this review could take place before the summer irritating. "At this stage it is premature to reconsider the removal of the publicity given to air programming from France Televisions. In addition, this position weakens us in our discussion with the European Commission. Finally, this reform has no sense since it is now the state budget that funds the television. "Side PS, one rubs his hands. Michel and Patrick Bloche Francaix, deputies, state that "this position was that we were defending the vote of the law.The principle of reality has caught up with everyone. And the PS deputies promise "to support this bill, but on one condition: that the proposed privatization of the advertising for France Televisions will be suspended. Jean-Francois Cope did not go that far, but believes that "it is to France Televisions to review the terms of the transaction. However, the direction of France Television is not conducive to the privatization to the tandem-Courbit Publicis. ? PG and ER

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This Thursday, September judges hear a variety of defense lawyers about a hundred "class action" (action for common name) filed against the Japanese carmaker Toyota, following the recall of 9 million vehicles.

If the judges decide to consolidate the class actions – based on grounds of complaints (brake pedal …) – into one, for examination by a court, Toyota and the plaintiffs will be invited to agree amicably.Otherwise, the dispute will be settled after a trial.

Certainly it would not be in the interest of Japanese rush into a long and very heavy in terms of image, because the press loves the American business class actions, especially when they involve a large listed group.

Between 3 and 5 billion dollars in financial compensation

Asked by the newspaper Les Echos on Wednesday, Jim Carter, lawyer and author of a complaint in partnership filed against Toyota, "the amount of damages can be assessed using a technique called" mass appraisal "based on factors known (such as vehicle age, mileage, etc.) to estimate the loss in value of their cars of all persons who filed a class action no fax cash advances !!!???!!!?? ?!!!.

He said Toyota may be required to pay financial compensation which "could reach between 3 to 5 billion dollars," he said, while acknowledging not knowing the maximum amount taxed at the manufacturer to date.

Forward, back to better

A month ago, was held hearings in Congress. On this occasion, the operations manager, Jim Lentz, apologized to his group, and acknowledged that it has "too much time to consider a rare but serious safety problems. Technical faults which he attributes in part to "a miscommunication within the company, with regulators and with consumers."

To this the CEO of manufacturer Akio Toyoda, admitted that "the pace at which we (the band, Ed) we developed was too fast.Our priorities are confused and our basic principle of listening to consumers to make better products it is found compromised.

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This is an example of a successful restructuring: nine months ago, Michelin announced its latest restructuring plan in France. A reorganization to enable the factories concerned "to undertake the changes necessary to ensure their sustainability," according Blehaut Frantz, director of Michelin France. At the cost of job cuts as the group is committed to "without resorting to forced departures.

Michel Rollier, co-director of the group, then stated that "the measures announced are not related to the crisis. To keep plants in France, we need to specialize and making them more competitive, "adding" will maintain a strong industrial base in France. The group also will recruit 500 to 800 people per year in France, over the next three years.

The restructuring implemented in 2009 are structured in two parts. A voluntary separation scheme which 1 875 employees responded.These are developments of late-career (early retirement pension). The second part concerns the consolidation of activities in three plants, with 1 093 job cuts. Among the employees concerned, "228 chose to go work in one of fourteen other sites Michelin in France, welcomes Blehaut Frantz. To facilitate this choice, the group has developed a wide range of mobility aids (removal assistance in finding employment for spouses …) . 516 employees are or will retire early – a choice that seems more in tune with the political time.

Helping conversion

Finally, "347 people have chosen a start, accompanied usually stay in their region," said Frantz Blehaut.In fact, these employees had no choice – unless you change the region – their post being deleted and, in the case of plant Noyelles les Seclin (North), their plant closed. However, they received severance pay of between 32 000 and 60 000 for the oldest with a plan to create business. Michelin has also established "career transition workshops, dedicated to the support of people leaving the group. A concept developed in 2008 when the plant closure Kleber Toul which had over 800 employees. This initiative includes the discovery of business recruiting. "We had set up workshops to discover the art of welding and industrial trades related to building, plumbing, electrician … And have some success." To date, 92% of the Toul found a job .Rather than support at arm's activities moribund better develop new ones where demand exists.

INFO FIGARO – As data traffic on mobile explodes, Bollor? Telecom, WiMax champion, believes more than ever the future of broadband Internet wirelessly. Reportedly, the company, a subsidiary of the Bollore Group, has just bought the operator Altitude WiMax licenses of Alsace and Burgundy regions. With this investment, Bollor? Telecom, chaired by Dominique Roux and directed by Marc Taieb, now holds WiMax licenses throughout the country.

In 2006, the company had already won 12 regional licenses for 78 million euros after an extensive bidding. Then in June 2008, she had acquired from TDF's WiMAX licenses in 8 regions.With the two licenses that it just bought at Altitude, Bollore Telecom won the Grand Slam: he is now the only operator with Free, to have national coverage.

In 2006, the telecom regulator (Arcep) was awarded two WiMax licenses by region. Besides Bollor? T?l?com, SFR also holds WiMax licenses in two major regions: the Island of France and Paca, Altitude is always a dozen, and several regional councils as they are in Burgundy, Corsica, Brittany and Poitou Charente.

The deployment of Wimax has been delayed, as is often the case with new technologies in telecommunications. But many traders remain convinced of its usefulness. First to cover areas where we can not put fiber optics. WiMax can provide broadband signal wirelessly to institutions (stations, airports, marinas, universities …).It already provides mobile functionality can be later mobility. This technology will also certainly be additional frequency bands classic mobile (3G, 4G …) which, given the explosion of data traffic, arriving almost a saturation in some cities. Finally, the technology of the wireless Internet is extremely useful in developing countries: while they have no or little wired network, WiMax is affirmed to be the best way to bring Internet.

The gross public debt (government, social security and local authorities) continues to rise. At the end of the third quarter, gross debt under the Maastricht amounted to 1457.4 billion, up from 29.4 billion the previous quarter, according to figures published by INSEE on Tuesday. "Expressed as a percentage of GDP, it is approximately 75.8%, up 1.9 points," says the National Institute of Statistics. In the second quarter, the debt had reached 73.9% of GDP.

The increase over the period, less than that observed in the second quarter (61.1 billion euros), was driven in particular by the increase in debt of the state. To finance the budget deficit, the state has cut its debt of 23.4 billion euros.The debt has also funded a stake in the Company making state participation in a French bank, Cr?dit Agricole 3 billion, INSEE said.

The social security funds have also contributed to the increase in gross public debt to the tune of 5.9 billion euros, "particularly as a result of increased indebtedness of the ACOSS (3, 9 billion euros), "details the INSEE.

The government has included in his bill to finance the debt was still progress to 77.9% of GDP at the end of the year. In 2010, it expects debt to 84% of GDP, without taking into account the large loan.

Moreover, net public debt, which includes cash and short-term is highest increase over the period, the gross debt.It was heavy with 57.1 billion euros over the second quarter, rising late September to 1331.5 billion. In case a "sharp decrease in cash of the State (-28.3 billion), returning to a level close to that of a year ago," said INSEE.

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