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Eric Besson this Wednesday morning at the University Paris-Dauphine, his new plan, Digital France 2020 laying down broad objectives for the digital sector, which now accounts for 3.7% of employment in France and 5 2% of GDP.

Some fifty measures, the minister will announce that the government wants to free up additional spectrum for the development of mobile broadband. Good news for mobile operators, which, given the exponential growth of traffic, would need additional 450 megahertz. Good news in perspective as to the state, who can expect royalties.

When you are searching for car insurance it's important that you do your homework and shop around. I would suggest you get at least 3 quotes from 3 different companies so you can make your own decision.

The Council of State suspended the execution of the decree of September 29 on the sale prices of natural gas, the institution announced on Monday. Gas prices are definitely a real headache for the government. Enact increases in the order of 4 or 5% per quarter is difficult to six months of a presidential election, particularly in times of crisis. So the government there decided by a ministerial decree of 29 September, to freeze the rates for individuals. This price stability followed that decided on July 1.

Problem: after much negotiation, the State and the suppliers had agreed in December 2010 on a formula, which was to end criticism of the political nature of periodic reassessments of gas tariffs.

During the crisis, tensions continue. The markets had another busy day, Thursday: doubts about the ability of the euro area to overcome the debt crisis have sealed the shares. They weighed on bonds issued by France and Spain led to a further surge in rates especially Spanish and Italian in the secondary market – the debt of "opportunity." The French rate also rose, to a lesser extent, before new Italian bond purchases by the ECB do a general relaxation.

European capitals are still struggling to unite, despite these new turbulence. Or because of them. Thus, the debate on the role of the European Central Bank it off again with a vengeance payday loans.The ECB's independence is considered an insuperable line in a country that is traumatized by hyperinflation of the 1930s. For Berlin, the only way to restore confidence in the euro area is to institutionalize fiscal discipline. Changes in the European treaties must strengthen the powers of Brussels to punish offenders, said Angela Merkel.

The Chancellor reiterated Thursday its opposition to further action by the ECB. "The European treaties such as we see them do not give the ECB the opportunity to resolve these problems," she says.

From our correspondent in Berlin

The symbol will not have escaped anyone. The first act of the EU summit held in Berlin earlier this afternoon. German Chancellor Angela Merkel recueillli a very large majority, including within its own ranks, having traced the Bundestag outline of the stabilization plan for the euro area, as envisaged by Germany.

Some 503 deputies of 596 votes cast, approved the "motion" filed jointly by the government majority and the opposition. The two pages of the text set to Angela Markel its room for negotiation, deal with its European counterparts, tonight no question of charging more the European Central Bank, making it taste too many Germans. And not about to spend more than 211 billion euros already pledged by the country.The Chancellor had to fly to Brussels with a clear mandate, intended to strengthen the positions defended by Berlin.

She assured members that the solutions involving the ECB for the enlargement of the European Financial Stability Dondi "are no longer on the table" for negotiations provided for in the evening. A key point for Berlin, where the risk of inflation is the line not to cross. Therefore the purchase of government bonds on the secondary market should be transferred to the ECB EFSF. The outstanding guarantees amounting to 211 billion euros in Germany, will not be increased, has added Merkel.The conclusions of the summit will EFSF then again ratified by the Bundestag, the chancellor promised.

Need to amend the Treaties

"Unemployment has not been this low in 20 years" in the country said Angela Merkel, stressing that it will work on the implementation of "viable" tonight online payday loans. But Germany can not continue to act as if its European partners are in trouble. This is why Europe must become a "union of stability." The objective is clear: "prevent the crisis from spreading to other European countries."

For Greece, the Chancellor said that the goal is to "find a solution that would allow Greece to have a debt / GDP ratio of 120% by 2020." "It is impossible without the private sector participates more strongly than had been decided in July," she said.The discount should be between 50% and 60%, parliamentary sources said.

"The report of the troika shows that Greece is the beginning of a long and difficult road," said Merkel advocating sending a permanent mission in Athens to help the country return to growth .

For Angela Merkel, the crisis demonstrated the need to modify the EU treaties to impose greater "stability culture" in the economic and monetary union. Berlin wants to include enhanced penalties, with the possibility of prosecution before the European Court of Justice, for countries that violate the rules of the European Stability Pact. "We must repair the imperfections of the euro, now or never," she insisted.

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The IEA has revised upwards its forecast 15% annual investment needs in energy. More than 1500 billion dollars (1095 billion) will be needed annually for twenty-five years or 38,000 billion by 2025 and 27,700 billion – to meet global energy demand while respecting objectives in the fight against climate change. Fatih Birol, the very influential chief economist of the IEA announced the figure on the occasion of the Ministerial Conference of the twenty-eight Member States of the Agency, which opened Tuesday in Paris for two days.

The hydrocarbons are becoming more expensive to extract, while renewables are still expensive, says the IEA.Shareholders will they go to needs? Fatih Birol is concerned on two points.

For oil (26% of investment needs to be 10,000 billion), "90% of the production growth will come from the Middle East. If within five years, investments in infrastructure are not to go to this region, will be major implications for oil prices that will fly, "warns Dr. Birol.

Second concern: electricity. "Over 1.3 billion people still do not know", said the expert. About 9 billion dollars are invested every year, "for access to electricity for the poor payday advances."But it would take five times as much, $ 45 billion, mostly in Africa and Asia."

"Governments act without speaking"

For Fulvio Conti, CEO of the Italian electricity Enel, now in Paris for the meeting between ministers and industry, these investments will only be possible if the regulation is "clear and stable," compatible with the time scale of the energy industry is extensive. "Unfortunately, the boss lamented Italian governments acting alone, without speaking. There are rules asymmetrical. That is why we, industrial, have raised our voices, "at the ministerial conference of twenty-eight Member States of the IEA.

In contrast, José Sergio Gabrielli de Azevedo, CEO of the Brazilian national oil Petrobras shows an optimism. His company will invest alone $ 224 billion within four years.Brazil relies on the growth of its deposits "présalifères" buried under the Atlantic to increase production to 5 million barrels per day (mbd) in 2020 half of Saudi production against 2 million bpd now. All smiles, the Brazilian incarnation of emerging countries, says the sweeping fears of a recession, "the future is bright."

New blow for the euro area. After Fitch, it was the turn of Standard & Poor's to break down a notch credit rating of Spain, which changes to "AA-". The rating agency also maintains a negative outlook on the country. In other words, a further downgrade of the country can not be excluded.

The agency believes that financial services' growth prospects are uncertain "because of" increasing risks "facing the economy. The agency referred in particular to "the incomplete reform of the labor market will continue to hinder economic recovery." In the view of S & P, Spain could fall into recession next year, with GDP expected down 0.5%.

The fragility of the financial system is also the Achilles heel of the fourth largest economy in the eurozone.S & P is concerned and "a probable further deterioration of asset quality of the Spanish financial system."

The agency also questioned the budgetary targets of the Zapatero government. The Spanish public deficit forecast at 6.2% of GDP for 2011 could be exceeded. As for reducing the deficit to 4.4% of GDP in 2012, it will not be possible without "additional measures".

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Fitch Ratings lowered the rating two notches from Spain, which now stands at "AA-". Spain held so far a "AA +", the fourth highest on a scale of twenty. More worryingly, the note is accompanied by a 'Negative' outlook, which means that the agency could lower it back to medium term.

Spanish growth at half mast

Moody's in turn should decide by the end of October on a possible downgrade Spanish now "Aa2" (the third best possible)."With significant funding needs" of the Spanish State, to cover its budget expenditures and net external debt is "one of the highest in the world" (91% of GDP), said Fitch, "the more volatile strong a negative effect on financing conditions in the market of Spain. "

But there are also internal factors in the country "risks to fiscal consolidation as a result of performance parts." The same agency Fitch has lowered Wednesday including the long-term rating of the Basque Country, one of the richest region in which it criticizes the "weak fiscal performance." Growth forecasts have been revised downwards. Wednesday, the Bank of Spain announced that the country's growth expected to slow in the third quarter, to reach an economic activity 'lackluster'.The Spanish government has also recognized that the economic growth targets it had set for 2011 and subsequent years would be "hard to reach" because of the risk of recession in the world.

Italian governance into question

Fitch also lowered the rating one notch to Italy, "A +" against "AA-" and does not see her again in the fall if the country would miss its targets for reducing the budget deficit. Fitch was the last of three major international rating agencies have not downgraded from Italy since the beginning of the debt crisis in the eurozone guaranteed unsecured personal loan. She explained that the high level of public debt and budgetary financing needs, combined with the low level of potential growth (the country), made in Italy especially vulnerable.The Agency is challenging the country's governance and stressed that the differences in the Parliament and the escapades of the prime minister Silvio Berlusconi, help to weaken the ruling coalition.

Belgium heckled by Dexia

Belgium is also in sight. The agenceMoody's said it was considering lowering its rating, currently at "Aa1", the second best possible. The agency cited three reasons: the crisis in the euro area, concerns for economic growth and the possibility of additional support to the banking system, particularly in establishing Franco-Belgian Dexia.

Another European country in turmoil, Portugal, has been confirmed its rating of "BBB-" (the last before falling into the category of "speculative") by Fitch, which continued on negative watch at least until the end of the year.Standard & Poor's, confirmed Tuesday the rating "BBB-" from Portugal, while maintaining it as a negative outlook. Portugal, the third country in the eurozone after Greece and Ireland to receive international financial assistance, is facing new economic challenges that undermine his efforts to clean up its public accounts. Progress in implementing the program of the European Union and the International Monetary Fund (IMF), and its budget for 2012 will be crucial.

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"3 billion for local

Investors play the card of caution in Europe before the announcement always expected employment figures for the month of September in the United States. Halfway through, the Paris index symbolically gives 0.42% to 3 062.55 points. Elsewhere in Europe, London slipped 0.30% to 0.27% and Frankfurt.

Thursday, the European Central Bank (ECB) announced a series of measures to help European banks to refinance. Global stock markets have accelerated their gains, the CAC 40 ended up sharply from 3.41% to 3075.37 points and the Wall Street lining up a third session in the green. This morning in Asia, the trend is bullish.

Nicolas Sarkozy, in addition, announced this morning that he will discuss the issue of a possible recapitalization of banks with German Chancellor Angela Merkel at their next meeting on Sunday in Berlin.A barrel of Brent North Sea crude for November delivery gave up 38 cents to 102.44 dollars.

Vallourec is lowering its forecast EBITDA

As for values, the banking sector remains very guarded. Dexia said in a statement Thursday that the Belgian regulator had requested suspension of trading of its title until Monday morning.

Credit Agricole (-2.81% to 5.30 euros) and Societe Generale (-1.93% to 20.28 euros) suffered some profit taking.

Vallourec (-3.92% to 42.25 euros) Friday revised down slightly its forecast for gross operating profit (EBITDA) for the second half because of the uncertainties surrounding the economy, but confirmed that an increase its production and its sales on the strength of the energy markets.

Gecina (-0.63% to 66.58 euros) is considering the sale of 500 million euros of additional residential assets to accelerate debt reduction.

EDF (0.77% to 22.22 euros) loses an ally in the U.S.: chief of the service responsible for issuing controversial loan guarantees from the U.S. government for the development of "clean energy", Jonathan Silver, resigned, according to the Washington Post.He was one of the main support for the proposed construction of a nuclear reactor at Calvert Cliffs, Maryland, supported by EDF and its U.S. partner Constellation.

Veolia Environnement (-2.71% to 10.61 euros): UBS lowered its recommendation on the value to "sell" against "neutral."

NYSE Euronext (0.31% to 17.77 euros) recorded in September increased volume of transactions on the cash market and derivatives over a year. Trading volumes of derivatives totaled 9.5 million contracts daily in September, an increase of 23.2% over the year but a decline of 8.4% from August. On the spot market, 1.9 million transactions were recorded in Europe, an increase of 34.6% over a year and a decline of 13.5% over the month. In the U.S., sales rose 12.3% to 2.6 billion shares daily volume. A month, 19.8% volume regresses.

Coffee breaks should be shorter now for the employees of Goldman Sachs in New York. In recent days, in fact, they have at their disposal coffee cups smaller than normal. The bank, which has embarked on an extensive program of savings $ 1.45 billion in mid-2012, estimates that reducing the size of the cups 35 cl at 29 he will save "thousands of dollars ". In the same vein, the machines "cashless" (to recharge with cash cards can be used to pay vending machines) are becoming increasingly rare in buildings. According to Goldman Sachs, it will pay less armored car to transport the money raised.

Other banks, Wall Street stars, also address their operating costs.The offices are less green and Morgan Stanley, which decided to cut the budget plant. "Every dollar not spent is a dollar that can be used for growth," says her boss wisely James Gorman. Bank of America canceled several expensive meeting, while Barclays will strictly monitor the bill for business phones for its employees.

Bonuses reduced and job cuts

More importantly, the impressive bonus paid out to employees at year end should be reduced. Although for the moment, the cumulative 65.69 billion dollars, set aside for this purpose in the first half by Citigroup, JPMorgan, Goldman Sachs, Morgan Stanley and Bank of America, do not show it yet. In recent await the end of the fourth quarter before taking any decisions about it.

Saving measures will also affect employment high quality business cards.Goldman Sachs cuts and positions could not be about 3% of the workforce (1,000 people), as expected so far, but 5% of the total. Bank of America will eliminate 30,000 positions, JPMorgan Chase 3000.

A disastrous quarter

The time has come for U.S. investment banks to tighten their belt after a disastrous third quarter. The very poor stock market performance of major Wall Street banks over the period, characterized by loss of 16% to 49% over the period, illustrate the phenomenon.

The reason: the pressure around the debt crisis in Europe affects the banking sector on both sides of the Atlantic, the new cases of mergers and acquisitions and bond below the 2008/2009 levels, and economic slowdown in the U.S. and the euro area.Not to mention the always present impacts of the subprime crisis.

Symbol difficulties, Goldman Sachs is expected to announce on 18 October, its worst quarter since going public 12 years ago. The consensus of analysts now speak of an earnings per share of $ 1.35 (against 2.65 dollars a month ago), a loss of profitability of 50% over the year. Some even refer to a quarterly loss that the bank would be its first episode since the Lehman Brothers in 2008.

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New blow for Societe Generale. While the second French bank is particularly turbulent stock market since the beginning of the summer, with a share price halved in three months, she has to face new suspicions. After the unfounded rumors about the supposed risks of bankruptcy, after questioning by U.S. authorities in a fraud complaint on subprime, Societe Generale now sees its relationship with the Gaddafi regime scrutinized. The new Libyan authorities are looking into effect on the investment made by the French bank with the Libyan sovereign fund, the Libyan Investment Authority, reports the Wall Street Journal. Some of these funds would have landed in the hands of people close to the government in place, the paper said.Societe Generale would have paid a certain amount to a Panamanian company, Leinad to help manage and advise an investment fund of one billion dollars in 2008. If the exact mission of Leinad is not yet clear, its role has at least been criticized by members of the Libyan sovereign fund, before the start of the Libyan revolt, the newspaper said cash till payday advance.

For now, the bank declined to comment on its relations with the sovereign fund Leinad or Libya, says the Wall Street Journal. Societe Generale however, that it has "worked occasionally with financial intermediaries in countries where it is not directly present."And these consultants are "fully selected and monitored in accordance with our procedures and ethics with the law and in full transparency with the customer," said the group, some have "acted in full accordance with the laws and regulations the sovereign ".

Throughout the reign of Colonel Gaddafi, it was indeed common for large groups pay foreign intermediaries, advisors and consultants to do business with Libya.

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