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Shortly before the opening, the index futures and Nasdaq Poors'500 Standard & 100 respectively crumbling of just 0.04% to 1171.20 points, 0.02% to 2154.50 points. The Dow Jones was in turn approached down 0.14% at 11,178 points.

While most careful observers with little enthusiasm yesterday evening, the statements of the U.S. Federal Reserve, the world stock markets have overreacted, and positive against all odds, these about the Fed. Buyers picked by hand. This has indeed ensured that it would maintain its rates at a historical low, and until mid-2013 to support the economy. Its leaders also promised various stimulus, but without specifying its content.It will probably wait until his final release in late August.

Meanwhile, the early promises more than simply market, which ended a series of 11 black unprecedented declines. The Dow Jones bounced freely from 4% yesterday, the day after his worst day since December 2008. Tuesday the European markets had unscrewed from 4% to 6% and 10% in Seoul meeting, approaching a market crash.

Oil stocks and budget menu

Wednesday morning in Europe, the main financial markets bounce in the wake of Wall Street. Signs of nervousness are nonetheless palpable. The volume of trade is thus still very substantial, and heightened volatility. On the merits, the Fed has painted a disturbing report from the world's largest economy.Growth, pointing in particular the U.S. central bank, is growing at an annual rate of less than 1% in the first half, where the institution expected, earlier this year, more than 3% instant payday loan.

On Wednesday, the U.S. macroeconomic calendar is relatively lightweight. Will be announced weekly stocks of crude oil (to 16.30). The figures of budget execution for the month of July will be for their detailed at 20:00.

Cisco News Corp expected

On the business side, Cisco will announce later this evening (22 hours) results for the fourth quarter, along with News Corp.

The title of U.S. internet group AOL will probably remain very guarded on Wednesday. Indeed, it has lost over a quarter of its value on Tuesday at the New York Stock Exchange after the release of disappointing quarterly earnings and lower forecasts. The stock has dropped 25.75% against the current of a market up sharply.The action even reached 10.36 dollars during the session, the lowest price ever since the split with Time Warner in 2009.

Facebook on Tuesday launched a new application for mobile phones iPhone (Apple) and those equipped with the Android operating system (Google) to send messages to his "friends" on social networking, but also to other contacts. Called "Messenger", the application can send both text messages (SMS) and email.

Apple could also be surrounded, after briefly delighted yesterday to ExxonMobil, its position as the first market capitalization.

The penalty was expected, but it still sounds like a shock. In the night from Friday to Saturday, the rating agency Standard and Poor's lowered the rating on the debt of the United States, and deprived of their "AAA" for the first time in their history. S & P said in a statement it had lowered the rating a notch, the best possible, to bring it to 'AA +'. It also downgraded the outlook to "negative", which means that Standard and Poor's believes that the next time the note will change, it is to be lowered again. The United States were rated "AAA" by S & P since the creation of this agency in 1941.They remain in the other two major agencies, Moody's Dean (since 1917) and Fitch Ratings.

Standard and Poor's, which had warned in April that it was considering lowering, justified its decision with "political risks" to see the country taking insufficient measures against its budget deficit. For her, the political debate on these issues is not up to the problems caused by a debt of more than 14,500 billion. "The plan for balancing the budget on which Congress and the Executive have recently agreed is insufficient compared to what, in our view, would be needed to stabilize the dynamics in the medium term public debt" said S & P, citing the law known as "control the budget" passed Tuesday.

The U.S. public debt to more than 100% of GDP

The first power of the world is, well, so sure before.The loss of this seal of excellence is expected brutal impact on the financial markets, difficult to imagine right now paperless payday loans. But while the financial world is upside down, the risk that markets continue to dive is high. The announcement of S & P comes in effect when the markets were closed for the weekend, closing on both sides of the Atlantic one week black.

For now, only Japan has responded. Second World holder of U.S. debt, Tokyo assured that his confidence in the U.S. Treasury and its strategy of purchasing these bonds were unchanged. But China, by far the world's largest creditor United States, found that she had "every right now to require the United States to address their structural problems of debt."

Two days ago, the U.S. debt has passed a symbolic milestone.Because it exceeded the threshold of 100% of GDP, just after raising the debt ceiling by Congress. The United States saw their public finances sealed by the harsh recession that crossed their economy from late 2007 to mid-2009. Since then, economic growth has returned, but they are not able to restore the health of their public finances. According to estimates by the International Monetary Fund, they should acknowledge this year, with about 9% of GDP, the highest budget deficit of the G20 countries, except Japan. It is sixteen countries rated "AAA" by Standard and Poor's, four of the G7: Germany, Canada, France and Great Britain.

(With AFP and Reuters)

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The uncertainty in Washington. After long weeks of negotiations, Republicans and Democrats seem finally to have reached an agreement to raise the ceiling of U.S. debt, according to U.S. television, ABC News, citing unnamed sources in Congress. But the White House quickly denied. "There is no agreement, said Obama adviser David Plouffe, on NBC. The clock is ticking. We need to find a solution. Today's (Sunday, ed) is obviously crucial "but" significant challenges remain to be resolved, "he said.

The text is still under negotiation, under the leadership of the White House. After a long back against the long struggle between Republicans and Democrats, Barack Obama Saturday decided to get involved again in the negotiations. Return ardently desired by the Republicans.The head of the Democratic majority in the Senate, Harry Reid said he was "cautiously optimistic" about reaching an agreement, saying that some issues remained to be finalized. For its part, the Republican minority leader Mitch McConnell assured on CNN: "We are very close to agreement" .3000 billion over ten years

Meanwhile, the U.S. Senate rejected a Democratic proposal to raise the debt ceiling, which had already been rejected by the House of Representatives. In a procedural vote of 50 votes against 49, elected officials have pushed the text elaborated by the head of the Democratic majority in the Senate, Harry Reid.

The Senate will have to decide again on the new text. Only a few details have filtered through the compromise now being negotiated. According to Mitch McConnell, it calls for reducing spending 3 trillion dollars over ten years.The Republicans have also agreed a mechanism to ensure that the debt cap could be raised beyond the U.S. presidential election in November 2012, claiming instead that they reopen early next year, or election campaign.

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Two world champions, yet two totally separate financial realities. This is the observation made on Tuesday after Camille Lacourt Stravius ​​and Jeremy have jointly won the gold medal in 100 meter backstroke in Shanghai (China).

The first saw its revenues increased more than sixteen in less than a year with new advertising contracts. 42,000 euros per year in August 2010, Camille Lacourt thus rose to 700,000 euros, much of which end of advertising contracts. Jeremy Stravius, it has at present still no agent and a single sponsor, Tyr, obtained through the French Federation of Swimming.

Thanks to a physique, Camille Lacourt has attracted luxury brands like Clarins and beauty, and earns 200,000 euros a year for six years, and Chanel, which pays 70,000 euros a year to wear its watches. But not only.These three gold medals taken down on three different disciplines at the European Championships in 2010 convinced the sponsors to leverage the rising value of swimming. This choice is paying now. "We have no logic, because the muse is the star product, it says Clarins. Such a partnership is a new and unusual practice for us. It's Camille Lacourt who came to us. President Christian Courtin had a crush on the athlete who shared our family values. It has in fact explained that her grandmother was attached to our products low fee payday loans. It has become our first ambassador. What we do not regret today. "

Banking on new talent to one year of the Olympics 2012

A speech that could also take Tyre, the last date of the associate sponsor of the club swimmers Marseille.Last June, the U.S. supplier has signed with him a three-year contract for a minimum of 80,000 euros per year. This amount could go up to 150,000 euros.

The gap is large with Jeremy Stravius ​​which according to our information, does not own advertising contract. But in the basin of Shanghai, the swimmer's club has yet matched the Amiens time Camille Lacourt, which is considered as one of the specialists in the discipline. Jeremy Stravius ​​therefore affect the same amount as for this fellow gold medal.

Amiens and the swimmer is reassuring: the current situation is reminiscent of Camille Lacourt a year ago, before it exploded and sports media to the general public.As long as Jeremy Stravius ​​this week confirmed its performance on other distances, it is not inconceivable that a brand can be associated with his image, in just one year of London Olympics in 2012.

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On the international trade front, France patina. For the second time in two months, the trade deficit hit a bad record in May, -7.422 billion euros, according to figures released Thursday by the Customs. Year over year, he moved to -63.418 billion euros, against -51.558 billion in 2010.

The poor sales in May due in large part by higher energy bills in France, reflecting a rebound in imports of natural hydrocarbons. Imports, burdened by this trend, amounting to 41.601 billion euros in May, up 2.9% over three months. This figure was moderated by the slowdown of industrial imports.This, "due to lower aircraft and naval acquisitions and a decline in purchases of electronic equipment and pharmaceuticals, 'the customs.

At the same time, "industrial exports sag again," they note. Result, exports grew by only 0.9% over the last three months to reach 34.179 billion euros in May "The persistent decline in transport equipment (aircraft in May, car in April) weighs on the trend," within Customs.

"Aérodépendance"

Important position in sales abroad, but very volatile, aviation fell 6.2% over the month."We had one the last two months show some" aérodépendance "of France, aerospace accounts for more than 10% of French exports and any slowdown in performance has a very significant effect on the external accounts of country, "Analysis Alberto Balboni, an economist at Xerfi easy pay day loans.

"The weakness also dominates," adds customs. To make matters worse, military exports shrink to 100 million euros. "Exports, unlike imports, have not regained their pre-crisis level (they are still below their values ​​of mid-2008), continues Alberto Balboni.More worryingly, France is among the major industrialized economies (excluding Japan), which recorded the lowest export growth after the trough of the crisis. "

Dynamism of Germany

Only exceptions to this gloomy picture, agricultural exports go, and auto sales. "Sales at their highest level since the crisis, particularly to improve the major partners of the European Union," according to customs.

France breaks the limits in general thanks to the dynamism of its European neighbors, including Belgium and especially Germany. Customs also stressed that "sales to Africa, however, are well oriented (automotive and aerospace, cereals, refined oil), like those in the Near and Middle East (aircraft)".In contrast, Asian economies, exports that had supported earlier this year, marking time.

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The job of a builder will less and less in the future to sell cars. For years now, much of the profits from automotive groups … of their credit activities.

But now, businesses step up efforts to expand their services to other areas such as electronics in the car or mobility to the card.

Objective: To look for additional revenue and recurring – on Western markets apathetic and very competitive – but above all, better customer loyalty. This is a strategic issue for brands, "which are in contact with their customers that every seven years, when purchasing a vehicle and for repairs, a time not conducive to an exchange positive.By providing meaningful services, multiply the opportunities for contact with a better quality of relationships, "says Nadège Faul, head of services in the marketing department of Peugeot, which launched last year its mobility service à la carte Mu.

More generally, the motorist's dream regular subscription, the subscription model of telephone operators, for example, to cushion the impact if a crisis. This trend may be accelerated by the arrival of the electric car, the battery will be rented monthly by Renault.

United States, General Motors and Ford are already engaged a fierce battle on the ground of the connector. GM claims more than 6 million users for its OnStar system, specializing in emergency calls and navigation. Last year 5 million people spent about $ 240 on average for this offer.This represents a turnover exceeding 1 billion. During its bankruptcy, the U.S. proposed to separate from OnStar, before changing his mind. And for good reason, the only subsidiary at the time was valued at between 2 and 4 billion dollars, according to Bloomberg.

Ford is betting more on infotainment. More than 3 million cars are equipped with the offer Sync in North America. Unlike its rival, the number two U.S. puts more emphasis on the interaction between the car and the mobile phone or other electronic devices. Beyond the extra income generated, "the cars with Sync sell twice as fast," said Jason Johnson, in charge of adapting for Europe for this product.This offer "attracts customers at dealerships," said he, and contributes to the image of a company "innovative".

Remote diagnostics

The only downside in the U.S., road safety authorities may seek to curb the growth of service connections in the car, they believe that distract the driver.

In France, PSA has also made developing service a priority. They must contribute to the tune of 1 billion plan to improve the operating profit of 3.3 billion for 2010-2012. In addition to sales financing, the group expands its range of insurance and maintenance. In total, the group is 500,000 vehicles sold with a service contract in 2012.

Another site, PSA expects a million cars equipped with the emergency call by the end of 2012. This offer is available on vehicles most upscale of the group.In case of accident, the car calls alone for help. The call for assistance is also available to all cars with an "autonomous telematics box." This is an option to buy 290 euros, present in 450,000 cars in Europe.

Through the connection, the manufacturers hope to offer vehicle diagnostics distance: parts for wear, mileage, fuel consumption, tire pressure. "For residential customers, we can send a technical diagnosis of the vehicle to your mechanic, you contact if a repair is needed," said Vijay Iyer, director of communications for Onstar.

Only problem, the services related to the safety board could "not generate significant profits before 2020" in Europe, said Max Blanchet, managing partner at Roland Berger."The question is whether people are willing to pay more for an offer such as emergency calls."

The idea of ​​a debt restructuring Greek away. Not that the Greek finances are better, but the idea of ​​establishing a new financial assistance plan to avoid bankruptcy again the country is preferred. A year after the granting of a loan of 110 billion euros, and Europeans should put money on the table … to conditions that Greece itself consents to further efforts.

According to latest information, this aid would be encrypted between 60 and 70 billion euros. The IMF would disburse 10 billion euros and the European Union, 20 billion. Greece, she will find 25 to 30 billion. How? Increasingly advanced the idea of ​​involving the private sector in these efforts. The basic idea is that banks maintain their exposure to Greek debt on a voluntary basis, to prevent capital flight.It argues that Germany: "It is important that the private sector assumes its responsibilities," said-there at the German Ministry of Finance. And the ECB seems to favor this solution. Anyway, this Thursday, Jürgen Stark, member of the ECB executive known for his orthodox positions, said the agency did not rule out this hypothesis.

Fiscal restraint and privatization

Following negotiations between Greece and a delegation of the "troika" (European Union, International Monetary Fund, European Central Bank), the Greek Prime Minister George Papandreou has delivered an outline of the new austerity program that will develop. The amount rises to 6.4 billion euros, the price of higher taxes and a revision of tax exemptions on income.These measures will be finalized "in the coming days before they are approved by the Cabinet and deposited in Parliament," the ministry said.

However, nothing has been said about the new aid. Jean-Claude Juncker, Eurogroup President, assured that no crisis meeting between finance ministers of the European Union was expected. A decision will be taken "by the end of June."

Adjusted parallel, the country's bluff, has initiated a process of privatization, which will reap 50 billion euros. Ports, airports, railways, water from Thessaloniki and Athens, racetracks, telecommunications and the postal bank is the first wave of Greek businesses for sale.A strike call was issued for June 9 to protest against the wave of privatizations.

The euro, "strong and credible"

If the equity markets still lag heavily the shock of the degradation of the note in Greece yesterday (Wednesday), the euro, he continues his way to the rise, settling comfortably above U.S. $ 1.44 (1.4472 at the highest this Thursday). Thus, in the underlying trend, concern about the financial world dominates while the Greek bounces back – and worried – almost every day: today at the Paris Bourse, the CAC 40 plunged more than 1.4 % to 16 hours and Wall Street is struggling to resume after signing its worst session since August 2010.Yesterday, the German newspaper Frankfurter Allgemeine Zeitung has confirmed the hypothesis of a new program of assistance to Greece, which the IMF would take part, failing to pay the last part of the initial grant.

But the most volatile foreign exchange market, for sale today are in favor of the euro … and against the dollar. The European currency was primarily driven by reassurances from Jean-Claude Trichet, who said on Thursday in Germany, that "there is no crisis of the euro", and called the currency " strong and credible ". The ECB president has fueled the prospect dune next rate hike. He also suggested the creation of a Ministry of Finance and European imagines that "the European authorities have the right to veto certain decisions of national economic policy."American side, a series of bad economic figures have polmbé the dollar, the euro mechanically pulling upward.

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The U.S. stock market begins this week on a hesitant note. After remaining at equilibrium throughout the morning, the indices have slowly gone back up to the mid-day. At approximately 19:30 on Monday, the Dow Jones gained 0.46% at 12,696 points, the Nasdaq advance of 0.63% to 2845 points while the S & P 500 is 0.50% to 1347 points.

On the macroeconomic front, there was no major indicator on the agenda of U.S. investors on Monday. The latter, like their European counterparts, remained so focused on the issue of sovereign debt in Europe and on commodity prices.

Greece under surveillance

The euro zone fails indeed not to emerge from the crisis of sovereign debt: the plan ready for Portugal just completed, it must again stand at the head of Greece.At a meeting held behind closed doors Friday evening in Luxembourg by the main actors in the monetary union, the issue of additional budgetary efforts to achieve the country to reduce its deficits has been addressed, as well as the means of help longer than expected. The leader of the finance ministers of the monetary union, Jean-Claude Juncker, has deemed necessary a new program to address the Greek government accounts. However, the rumor of an exit from the euro zone countries were formally denied by the Athens government and European bodies.

On Monday, rating agency Standard & Poor's has reinforced the general fears by deciding to lower the two-notch credit ratings of Greece in the short and long term, suggesting an increased risk that Athens must resolve to restructure its debt. Fitch and Moody's should do the same.

On the foreign exchange market, the euro decreased again at 1.4311 dollars, against 1.4335 dollars on Friday night.

Commodities rebound

Rising dollar is not expected to promote the progress of black gold. However, they try to regain some ground on Monday on the New York Mercantile Exchange (Nymex). The barrel of light sweet crude (WTI) crude for June delivery gained 3.61 dollars to 100.79 dollars while at the same time, a barrel of Brent North Sea crude for June delivery was trading at 113 , $ 37 at the InterContinental Exchange (ICE) in London, up $ 4.24 from Friday's close.

The values ​​of energy and industry, battered last week, thus helping to increase indices, like two heavyweights Caterpillar rating (+1.41% to 111.90 dollars) and Chevron (0.99% to 103.90 dollars).

The battered banking

Good news on the front companies also helped investors overcome their fears. McDonald's (1.19% to 79.64 dollars) has reported solid growth in sales in April than 6%.

Berkshire Hathaway (+0.21% to 120.52 dollars), the holding company of billionaire Warren Buffett, announced after the close on Wall Street Friday it recorded first quarter 2011 net earnings of $ 1.51 billion as against 3 6 billion last year.

For its part, International Coal Group (+0.07% to 14.46 dollars) has reported a deficit in the first quarter of $ 6.3 million against a net profit of 22 million announced on April 27, following his conviction to pay 104 million dollars in damage to one of its customers on May 2.

The quarterly earnings season coming to an end and this week will be less abundant in business publications. The main companies unveiling their results will be Walt Disney (tomorrow), Cisco, Macy's, Symantec (Wednesday), Nordstrom, Nvidia (Thursday). Since the beginning of the season publications, are estimates of the results have been revised upwards. Average profits of listed companies on the S & P 500 would have increased 18% in the first quarter from the previous year, against an initial estimate of 13% in early April, according to Reuters data.And so far, 69% of groups who published their results beat the consensus.

Hertz (+0.33% to $ 16.90), announced Monday a new offer at $ 72 per share to buy its competitor Dollar Thrifty (12.94% to 78.71 dollars), whose shareholders had already rejected an offer in September. It is 24% more than its competitor's offer notice (-0.33% to 18.35 dollars), which has still not received the green light from regulators.

In its latest study, the institute Millward Brown consultancy makes Apple (+0.49% to 348.37 dollars) "the most valued global brand" in the world, across all sectors. The firm supersedes its competitors, but also, for the first time, figures like McDonald's or Coca-Cola. The Apple brand, famous for its iPod and iPad, saw off his recovery from 84% in one year to reach 153.28 billion dollars.Since 2006, the Apple brand value has increased from 859%.

However the banks were in trouble, like their European counterparts, such as Bank of America (-1.15% to 12.17 dollars) or JPMorgan Chase (-1.11% to 44.54 dollars).

Sermon of the rating agency Standard & Poor's on the U.S. national debt and lowered polls because of soaring fuel prices: If last week was hard on the economic front for President Barack Obama, one that starts this Monday should not be much brighter. Many statistical publications should confirm that the pulse of the U.S. economy beats slower the last three months.

One of the main events of the week should be the first release on Thursday, the figure of U.S. growth in the first quarter of 2011. Economists are pessimists: the average of their predictions came to a small 1.8% growth in gross domestic product (GDP) over the first three months of the year. Is small compared to the rate of progression of the end of 2010 (+3.1%).

Slowdown in consumption

Involved, "the slowdown in consumption of households" of 4% in late 2010 to 2% in early 2011, according to economists at Credit Agricole. The main engine of U.S. growth suffers from higher prices, primarily of those fuels. A gallon of gasoline has surpassed the symbolic $ 4 in recent weeks. Prolonged depression of non-residential property sector should also stopping growth.

Tuesday's publication of consumer confidence, should give a foretaste of the gloom that gnaws the Americans. Again, "the price of petrol should weigh heavily on consumer confidence which could result in penalizing the outlook for consumer spending, analysts expect the bank Nomura.

Still, "the resumption of the United States is on track," said Jean-Marc Lucas, an economist at BNP Paribas.Certainly, commodity prices will weigh on consumption, but "on the labor market, workers' incomes are starting to take off and the unemployment rate down." Goldman Sachs economists also expect that the expected slowdown in the first quarter is only temporary, due mainly to bad weather. "The situation is more difficult to read than usual (…) but we expect a recovery in the second quarter," they say.

Bernanke speech expected

The U.S. central bank, the Fed, for its part should give some details on its new economic forecast on Wednesday evening. Its chairman, Ben Bernanke, would then launch a new practice, the press conferences. For the sake of transparency and clarity, the Fed follows the lead of the European Central Bank. This latter practice this exercise since its inception.Not sure the words of Ben Bernanke be able to reassure the markets, amid debate about the effectiveness of monetary stimulus. Economists expect at best a status quo growth forecasts of the Fed.

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For Pierre Moscovici, the cup was full. President SP the agglomeration of Montbéliard took the historic decision to break along the way the contract which bound him to the management company Veolia Water until 2022. At issue: the price deemed too high by the company to its private citizens.

Montbeliard region is indeed one of the cities of eastern France where the price of water is more expensive, between 3 and 3.40 euros per cubic meter. According to a local resident, quoted by Le Parisien, the contract was signed 20 years ago with Veolia, assured users a price of water identical to that of the nearby town of Besançon, which had maintained a public management.But today, "the gap is approximately 1 euro per cubic meter between the two cities."

In the urban community of Montbéliard, management again become so public in the 29 municipalities involved from 2015 and since 1 April, a 10% decline in the price of water came into force. This decision is good news for the people it will be implemented by a drop of 23 cents per cubic meter, or between 24 and 25 euro saving per year.

A contract of 23 million flies

This decision is described as historic because for the first time a contract is terminated before completion. Other cities have taken over the management of water but so far they had waited for the expiry of the contract associated with the private company concerned not to renew it.For example, this had been done Bertrand Delanoë in Paris in 2008.

Others have opted for the renegotiation of water tariffs. Cities like Lyon, Libourne or Bergerac have obtained discounts of between 16% and 30%. Some cities, like Bordeaux, are also opting for increased investment in infrastructure in return for a higher price per cubic meter.

For Veolia, the choice that was made without discussion, is highly contested. "This is a unilateral decision and extremely damaging. It has nothing to reproach us. We have a lot invested in this community, "Marc Renaume indignant, deputy director of Veolia Water, in Le Parisien. The loss of this contract has a bitter taste for Veolia, which paid nearly $ 23 million for a contract that was to last 30 years.The group, which believes that Pierre Moscovici is "in the context of a political stance with a willingness to take risks, does not rule out" the path of litigation. "

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