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A new session promises to be eventful Thursday on Wall Street. Futures on the Dow Jones fell by 2.06% to 10,831 points, those on the Standard & Poor's let go of 2.23% to 1136.10 points and the Nasdaq lost 2.32% to 2208.20 points.

Like European and Asian stock markets, Wall Street should not escape the anxiety of investors pessimistic after the U.S. central bank on the global economy. The central bank has held that the U.S. economic recovery was "slow" and threatened by "high risk".

For this, the Fed announced an operation to extend the maturity of the assets it holds up to 400 billion dollars by June 2012."One can interpret this decision by the Fed as the will not to launch a" quantitative easing "3 (monetary easing to boost the U.S. economy) in the immediate future, says Arnaud Poutiers, executive vice president of IG Markets short term personal loan. Indeed, "Operation Twist" is intended to influence the long bond rate, but without increasing the size of the Fed's balance sheet, so without creating money ".

On the currency markets, the euro continued to sink against the dollar: the euro back below the $ 1.35 (-0.91%).

On the corporate side, Moody's lowered the credit ratings of Bank of America, Wells Fargo and Citigroup. The agency that the state may fly to their rescue.

United Technologies will buy the equipment for Goodrich Aircraft $ 16.5 billion (12.2 billion euros) in cash, a transaction that would be the largest acquisition of U.S. industrial giant in 10 years.

FedEx has reported an EPS according to the consensus of $ 1.46 per share in the first quarter, a turnover of 10.52 billion dollars (against the consensus of 10.32 billion dollars).

The discount is as brutal as sudden. While markets were expecting a deterioration of the Italian debt by Moody's, its rival Standard & Poor's (S & P) has the first shot. On the night of Monday to Tuesday, the U.S. rating agency downgraded a notch credit ratings long and short term attributed to the third European economy A/A-1 against A + / A-1 + before. She also maintains a negative outlook on the evolution of the country's economic activity. Rome was quick to respond, criticizing a decision "dictated" by the media and "distorted by political considerations."

Above all, the rating agency believes to have taken someone a traitor. "There is nothing in this sudden degradation defends Martin Winn, Vice President of the London office of S & P, noting that the Italian debt had already been placed under negative outlook on May 21.A decision which in the eyes of the agency at least, appears as "a very clear indicator," said Norbert Gaillard, an economist and specialist rating agencies. In fact, a negative outlook indicates that degradation can occur at two-year horizon, says Norbert Gaillard yet. Unlike a "supervision order", indicating a probability of discount "stronger in the next three months."

Quagmire of the magazine Italian Greek

The question is whether the markets have built-or not-this "indicator". And there, the doubt remains: "Normally this should be the case," suggests Norbert Gaillard.Adding that markets were also able to consider a positive outcome for Italy, when Moody's, which was placed on negative watch Rome in June, was given "one more month" to determine a deterioration in the adoption of an austerity plan for Rome in mid-July.

However, even if investors are mild at first, the degradation of Standard & Poor's suggests a bleak future on the other side of the Alps. "There are now three notches score difference between Moody's and Standard & Poor's, which is huge," says Norbert Gaillard. He said Moody's may well be tempted to turn degrade the Italian debt, "especially to preserve its credibility." With in this case, "a risk of panic 'markets.

In addition, S & P has not ended with Italy, since the rating agency maintained its negative outlook on the economy Alps.Now, if Moody's was focused on the austerity measures, its competitor seems only need a high debt, a fragile political situation, or a sluggish growth prospects for taking action, counting up Norbert Gaillard. Questioned on this point, Martin Winn mentioned merely "a probability of 33% of a further deterioration in the next two years." As negotiations dragged on over Greece, which still awaits its next tranche of EUR 8 billion, Italy is transformed into a dangerous powder keg for the rest of the euro area.

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The U.S. stock markets have opened sharply lower on Monday. In early trade the Dow Jones loose 1.23% and the Nasdaq -1.54%. European divisions over the records of the debt crisis and the rescue of Greece, and political tensions in the United States expected to weigh on investor sentiment. Friday, after a feverish new session, Wall Street had ended in the green on the wire.

Investors will be particularly attentive to the speech of President of the United States, Barack Obama. The U.S. president should propose a new tax plan today to 1.5 trillion dollars over the next decade. The plan also intends to cut the deficit in Washington from 3000 billion over the next ten years, said Sunday night a senior administration official.Worried that his program pushed by Congress, Bush called this weekend to support the Republicans, to avoid "dead end". President Barack Obama presented a plan Thursday night use of 447 billion dollars intended to provide a "shock" to the U.S. economy. He warned the Americans Saturday that they would provide "pull their weight" to reduce the country's budget deficit. The United States must indeed make 1.2 trillion dollars in savings by the end of the year. Barack Obama wants to target primarily the rich and businesses. In this sense, it must provide to Congress today a tax on incomes above taxpayers, those earning over a million dollars a year.

Summit meeting in Greece

Concerns about the situation in Greece should also still produce adverse effects on Wall Street.Following a two-day meeting, Friday and Saturday in Wroclaw, Poland, EU finance ministers decided to postpone their decision until October on a loan of 8 billion euros in Athens. The European finance ministers have also made little progress on the implementation of the second aid package to Greece about 160 billion euros, of which the principle was arrested on July 21. The presence of U.S. Secretary of the Treasury Timothy Geithner will not change. Accused of delay in implementing measures to reduce the deficit, Greece must show its good will.

To try to convince the Greek Finance Minister Evangelos Venizelos has to go today as the yoke of the major creditors of the country, calling for new savings measures.According to his ministry, Evangelos Venizelos will submit to the verdict of the "troika" representing euro area and the International Monetary Fund on a conference call scheduled just after the close of European stock. An interministerial meeting is then scheduled to "specify concrete decisions" to be taken, said on Sunday the Greek Minister.

On Monday, the only indicator of expected importance in the U.S. NAHB housing index is to be released in 16 hours. The main highlight of the week in the U.S. is expected Tuesday and Wednesday with the Fed meeting. Investors expect the institution to take steps to maintain the downward pressure on interest rates and long-term and in turn gives a boost to growth.

The euro against the dollar worth

On the foreign exchange market, the euro accentuated his decline against the dollar on Monday.The euro bought 1.3653 dollars against 1.3797 dollars on Friday night. He fell last week below the threshold of $ 1.36 for the first time since February. Oil prices are also in the red. Around 12:30 in Paris, a barrel of Brent North Sea crude for November delivery traded at 111.75 dollars in London, giving 47 cents from Friday's close. In electronic trading on the New York Mercantile Exchange, a barrel of "light sweet crude" (WTI) for October delivery gave up $ 1.19 to 86.77 dollars.

Also note, share repurchases by companies have reached record levels over the quarter.They are for non-financial businesses of $ 475.2 billion in the quarter (annual rate) against 277.9 billion dollars for the full year 2010 specialists note Aurel BGC.

Values ​​to follow

The side of values, the general manager of movie rental service Netflix announced on the blog of the company splitting its activities on the internet streaming movies and delivery of DVDs by mail.

Boeing expects to receive "hundreds" of new orders and commitments for the 737 version of its remotorisée in the coming months, told Reuters Randy Tinseth, vice president of Boeing Commercial.

according to reports from CNBC, United Technologies is in talks with Goodrich Corp. to buy the company at a price of 125 dollars per share.

Moreover, according to the Sunday Express, Best Buy would have discussed the prospects of its business in the UK with its shareholders.

GE Transportation, a subsidiary of the giant General Electric announced it would invest $ 200 million to develop manufacturing of locomotives in Texas and Pennsylvania.

The shower is severe. In the portfolios of French investors, very few mutual funds have been spared by the crisis of the summer. But there are still some miracle, such as those invested exclusively in bonds. With lower interest rates on German and French titles, they have recorded gains that offset their potential losses on bonds of peripheral states.

Some balanced funds, designed to protect stock market turmoil of the capital of their subscribers, also grown out of summer crash, as they kept their promises. Carmignac Patrimoine, the most famous of them, for example, ends in August slightly higher.He won more than 1% over the last three months, and displays from the beginning of a loss of 1.38%.

Funds that keep their promises

Before the summer, the management company, worried about economic growth, would be prudent, played the German government bonds and U.S. gold mining, focused on the stock exchange on defensive stocks and fled from the European financial. Paris paying as much this summer. "Earlier this year, already, we were very cautious and this has penalized our performance. But our concerns proved justified, "said Didier Saint-Georges, a member of the Investment Committee.

This fund is not the only one who done well in the gameOthers are also this month in the green, like Invesco Balanced Risk Allocation, which earns more than 1%.

Good surprises are, however, to investors, far fewer on the side of mutual funds dedicated only to "actions". Even the most reputable funds have simply succeeded in limiting the decline to less than 20% in August, the image of Agressor of Finance of the Exchequer (16% on a month -12.90% since the beginning of the year), Ulysses de Tocqueville Finance (18% of one month, -17% since the beginning of the year), or Work at Mandarin Mandarine Gestion (-14% last month ), according to Morningstar.

The banks'

Scores honorable, because the mutual funds shares plunge less bright, they, by 25%. And very few funds have done better, except for example Neuflize Opportunities France, which lost "only" 12% in August.Managers had preferred Neuflize Private Assets before the summer increase liquidity, cover part of the equity portfolio and stood, too, away from financial stocks.

"Since the beginning of the year, banks have lost a third of their stock value. The differences in performance between the mutual funds 'share' in Europe are essentially determined by the position given in the securities portfolios, "said Bernard Aybran, director of the multi at Invesco. The funds dedicated to small and mid caps were also often more resistant, precisely because they have few banks in their investment universe.

Subscribers who have agreed to diversify their portfolios outside of Europe have suffered a little less. "Emerging markets have not declined over the summer that the European stock markets," notes Bernard Aybran.U.S. stocks end up well also. At one month, the CAC 40 fell nearly 12% and U.S. S & P 500 half!

If underwriters are well aware of the risks they take by investing in equities, they are however less sensitive to those they face in buying bonds. However, they lost an average of 6.5% in one month on high-yield bond mutual funds, which invest in corporate bonds of lower quality. Popular earlier this year, praised for their efficiency, these securities have also plunged on the stock market during the crisis.

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Rupert Murdoch warned that things will change. "Given the current problems by News International, we are taking serious steps to deal with the past and ensure that these problems do not happen again," wrote tycoon in an email to all employees on Wednesday. This shipment came a day after his hearing before a parliamentary committee in London, about the wiretapping ordered by the newspaper News of the World, which led to the resignations chain, including the head of Scotland Yard.

"Those who have betrayed our trust, will assume responsibility before the law," he said, adding that the group will emerge stronger from this crisis, but it would take time.

Trying to manage the crisis, the News Corp. has decided to publish an advertising campaign in the British press last weekend to apologize. According to the statement of James Murdoch, son of the founder of News Corp, which was published in The Guardian last Friday, the group plans to communicate widely to explain the actions the group will undertake in the future to manage the crisis. "Our company has made mistakes. She was indicted, but it will make developed to respond to unfair attacks, "he said.

The case made waves in Australia

The wiretapping scandal that broke out in Britain, is now cause problems for the media empire of Rupert Murdoch abroad.The Australian prime minister Julia Gillar said Wednesday in an interview in New South Wales that News Corp. will be forced to answer "hard questions" of Australians in relation to this matter. "I think there are many people who would ask questions related to the practices of News Ltd in our country," she said.The Australian arm of News Corp. News Ltd. controls 70% of the press in the country and trying to acquire other media in the country.

Despite the reassuring statements of Rupert Murdoch, News Corp activities pourraitent be permanently sealed by the case, which led Standard & Poor's yesterday to place the note in the group under surveillance before a next possible degradation.

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It was the American studio not to be missed. It is now into the hands of TF1. The group chaired by Nonce Paolini has just completed a multiyear agreement with Sony Pictures, one of the most prolific studios of 2011. This collaboration will cover a minimum of three years, includes a right of first refusal on the production of shows like feature films.

"But for this agreement, we have pioneered," said Benoît Louvet, deputy director general of TF1 in charge of acquisitions and trading of media rights. "Indeed, we did not content to secure the rights for the sole TF1, but as we reasoned in terms of group media. In other words, our agreement is all right.This will allow us to program films and series on TF1, TMC NT1 and also to extend their broadcast on new media, such as shelves, "he explains. Better yet, if the staff prefers to remain discreet TF1 on the issue, the agreement has been extended even to the extent possible, the market for pay television. Indeed, Canal + has always agree on movies and a right of first refusal on the sets of Sony Pictures.

Struggle thank you

Even if it is not signed, TF1 would be interested in the three sets of lights on the season. Starting with Charlies' Angels, a remake of Charlie's Angels, whose driver claimed no less than $ 10 million. The broadcasting group would also be interested in Pan Am, a sort of Mad Men in the world of airlines. And, finally, Unforgettable, a series of psychological Mentalist.Furthermore, TF1 secures the distribution of some good blockbusters as the next Steven Spielberg's Tintin, The Amazing Spiderman, Salt or The Social Network.

This announcement is a consequence of the struggle being waged with no thank you to France's three main groups TF1, M6 and Canal + to obtain the broadcast rights in all media now and in all segments of operations, pay as free. If M6 has a historic agreement with Fox and a contract with more recent Disney, TF1 had previously been the faithful partner of Warner and NBC Universal. With these studios, the first private channel has a right of first refusal on two sets of each studio with prices per episode set in advance.

July 14 was not been idle at Lafarge. French cement giant has indeed completed the assignment, long overdue, a branch of his cast. The transaction involves assets located in Europe and South America. Last year they had recorded 895 million euros in turnover of 115 million EBITDA. The buyer is a Belgian company, Etex, which will thus increase its turnover by almost 50%.

Financially, the French group recorded a sound operation. It will touch 850 million and retain a 20% stake in the new entity will combine the activities casts of both groups. Lafarge will be able to sell this stake to Etex within five years.

Amount of the sales in past

This sale is not a surprise.Despite its position as number three in the plaster, Lafarge no longer considered as a strategic sector for many years. Last year, the industry weighed only 8.8% of total turnover of the group. The assignment does not, however, the entire cast of the activity, but a little less than two-thirds. Bruno Lafont, CEO of Lafarge, would not say the fate of the balance of this activity, located mainly in North America and Asia. A sale seems logical.

Earlier this year, the leaders of Lafarge had announced a goal of reducing the debt of 2 billion euros, 750 million through asset sales. With the only transaction announced yesterday, so they exceed the amount of planned disposals. Last May, Lafarge had already sold its cement and concrete in the southeast United States for 535 million euros.It is true that the financial situation of cement remains tense. In late December, he posted nearly 14 billion euros of net debt. The rating agency Standard & Poor's had also downgraded its rating on Lafarge mid-March.

With operations carried out since the beginning of the year, the group now appears to have the wherewithal to bring the agency to reconsider its position. Investors also seem to be confident, since the title Lafarge had opened up during the meeting of July 14, in a declining market.

Supervisory Board of Parole on Tuesday morning at Areva. It did not last more than twenty minutes in an atmosphere heavy. As expected, the meeting endorsed the arrival of Luke Oursel as Chairman of the board of the nuclear group, replacing Anne Lauvergeon, whose mandate expires on June 30 was not renewed by the government.

This series began producing its first effects. Yesterday, the Executive Board was reduced from four to two members, along with the appointment of Luc Philippe Knoche Oursel, the director of the branch reactors and services.

Anne Lauvergeon should affect his allowances

During the day, rumors had circulated that Anne Lauvergeon, received the day before yesterday by the President, had indicated that it did not wish to receive his severance pay business cards. Areva has categorically denied that such a point has been discussed during this interview.The group said the amount and terms of payment of these allowances were set by the supervisory board of Areva's Oct. 16, 2008 and Anne Lauvergeon would be granted the benefit.

Note that employee directors did not participate in the voting of the Supervisory Board. In the eyes of those concerned, it is not a sign of mistrust vis-à-vis Luke Oursel but they expect that the new management to submit their roadmap.

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Sale-privee.com crosses the Atlantic. To settle in the U.S. market, the group found a prestigious partner, American Express. "We did not go alone on this difficult market, which is very mature, especially on the discount window," said Jacques-Antoine Granjon, CEO and cofounder of sale-privee.com. This online store was established in 2001, owes its success and reputation in particular its deep discount, between 50% and 70% on various products (ready-to-wear, home furnishings, toys, sporting goods, etc.) .In the U.S. market, American Express ensures the reputation synonymous with trust for future shoppers, which is "the key to successful e-commerce," according to the Federation e-commerce and distance selling (Fevad) .

Through its joint venture equally with the American mastodon credit cards and travelers checks, sales-privee.com will have access to a database of 40 million cardholders. One way to advance quickly volumes: "The U.S. market for Internet sales is estimated at tens of billions of dollars. We can claim sales of several million dollars ", announcement, cryptic, Jacques-Antoine Granjon, who does not wish to raise objections.He notes that it is "easier to ramp up U.S. markets mixed as the European continent."

The site should be launched before the end of the year

The result of the collaboration in Europe between the specialist and the specialist maps from storage had to be decisive. American Express has been accompanied privée.com-sale in its development in Germany, Spain, Italy and Great Britain in recommending the merchant site to its cardholders.In June 2009, both partners were already expressed their satisfaction, the average basket of American Express holders are 20% higher than average membership sales, private, and they were already considering "new opportunities for collaboration."

For its domestic market, American Express has selected the French group among all e-tailers in the world, preferring including world number two (by sales), the American Gilt. "The European brands are very interested in the possibility of destocking in the U.S., where they are appreciated, but where competition with their stores is less important than in Europe," said Jacques-Antoine Granjon. The site should be launched before the end of the year, under a name still unknown, but the model has developed private-sale in France and Europe.That of logistics and integrated customer service and above all a lasting relationship with the brands extended to the end customers, members. They are more than 9 million in France and 13 million in total in Europe (Germany, Spain, Italy, Great Britain, Austria and Belgium). Profitable since 2004, the second most visited site in France (1.3 million visitors per day) by classification of Fevad, plans to exceed one billion euros in turnover this year.

Increased partnerships

Even if the group has been profitable since 2004 and a profit of about 6-8% of turnover every year, it remains hostile to large acquisitions. Unlike its competitors, because eBay has bought German Brands for Friends (150 million) and Amazon Buy Vip Spanish (70 million). Sale-private partnerships rather multiply all kinds.He thus announced Tuesday an agreement with the land Hammerson, which operates seven shopping centers French. Gift certificates purchased on the site can be spent in shops partners, as also the site Groupon, for example. Sign that the convergence between business and e-tailers began.

Three raps with a hammer-shaped wooden bottle of Coke. Thus, Muhtar Kent, CEO of The Coca-Cola Company, launched Friday night in Atlanta the weekend of festivities to mark 125 years. The first glass of Coca-Cola has been officially served in a pharmacy in the capital of Georgia, May 8, 1886. "My predecessors had used the hammer to the 50th, 75th and 100th birthdays," said the big boss at the company headquarters. No way to shake up tradition, although modern technologies give some freshness to the event.

A sound and light show ignited the building up to 122 meters. "This is the biggest thank-you cards that we send you," Muhtar Kent has launched its guests, the leaders of North American bottlers and oils from the city of Atlanta, the State and the University of Georgia, or even the local clergy.The famous bottle was projected in 3D on all four sides, in a show of twenty minutes presented as the greatest illumination of a building in the world.

Piracy Alert

The day before, the organizers had a cold sweat. "We realized that students from the University of Georgia Tech, located in front of the seat, trying to hack into the programming of the sound and light," says one officer. We were afraid they are trying to project a naked woman or a bottle of Pepsi. "Neither of these nightmares, the second being the scariest for Coca Cola, has occurred.

In Atlanta, apart in the sky, blue is not red shade at the weekend. Saturday afternoon, nearly 15,000 people attended in the heat to a four-hour concert, the group broadcasts live on the internet to "thank the entire planet free 3-in-1 credit report." Nothing less.An outdoor show started by K'Naan and his "Wavin 'Flag", a hymn to the success of the last World Cup football, with the refrain "oh oh oh oh oh" has the merit of being included in the 206 countries where Coke is sold.

The host Ryan Seacrest, the American Nikos Aliagas, then invited on stage "the next American Idol" Muhtar Kent, before the governor of Georgia and the mayor of Atlanta did join in wishing happy birthday to the Coca-Cola … behalf of their constituents. Aediles quickly replaced by the former glory of American Idol Kelly Clarkson, the band One Night Only, the R & B singer Ne-Yo, Natasha Bedingfield or, standing ovation for his cover of "Purple Rain". A colorful tribute, no doubt, to the Prince of cola.

In the morning, a good-fair was reserved for employees of Coca-Cola and their families facing the World of Coke museum.Mostly dressed in red T-shirt, they chained face painting and tattooing, before engaging in an artistic activity: design their own bottle of Coke! But the United States, any successful self-celebration can not have a good feeling. Delegates have they bundled packages for families Georgian victims of tornadoes that ravaged the south last month. An operation conducted in partnership with the Red Cross. Red like Coca-Cola, of course …

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