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Testimony will or letter of resignation? Despite his categorical denials in the spring, including members of the executive, who asked, Christian Charpy is indeed to complete an account of his three years as general manager of employment center. Titled The head of employment, the book, Le Figaro has obtained a copy will be available Sept. 8. However, the Charpy mandate expires at the end of the year and the Minister of Employment, Xavier Bertrand, continues to make it clear publicly that his "exit" will be faster, last Thursday, he repeated again at Figaro . The contents of the book is likely to accelerate the movement …

While the employment center boss does not attack his name minister. But it strives, in a final chapter "to go further," to criticize one by one the thrusts of Xavier Bertrand instant payday loan.Doing so trades voltage (or those positions are filled) "alpha and omega of an employment policy reflects a restrictive vision of the situation well," Charpy loose. While Xavier Bertrand refused to increase the number it considers "necessary" to strengthen them. Employment center boss surprised "when the increases in the accompaniment of the retrenched, one can consider reducing the accompaniment of other job seekers." And find it ironic that "it reduces opportunities to verify the authenticity of acts of job search by reducing the monthly monitoring personal" when we want "to hunt fake unemployed."

"Showdown"

(Photo credits: Tallandier)

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Unlike many leaders of the UMP, Bernard Accoyer does not support a convening of Congress on the golden rule if the vote is not granted.

LE FIGARO .- What impression do you get from the Summer of PS?

Bernard ACCOYER. – We saw a new battle of images and egos between the candidates in the primary. The PS seems to be a party curled up, in contrast to a world wide open. At La Rochelle, it was all in the posture of a facade of unity and there was nothing to find ideas to respond to the challenges of the moment. The PS stands still deal with the crisis.The implementation of its program for 2012, comparable to 1997 and even 1981, would have two consequences: swelling public spending and raise taxes, while France must control its spending and tax measures to adjust without affecting the household consumption or business competitiveness.

Among the subjects of contention between the majority and the opposition included the "golden rule". Do you support the convening of Congress?

It is a responsibility of the President of the Republic. It is major. French Parliament's vote on a commitment to fight against excessive deficits is a key decision. It is also a commitment of 17 countries in the euro area. We must measure the impact of the convening of Congress. I trust the president to decide or not.For my part, I hope of course that the golden rule is adopted, but I also measured the risks of this approach. Currently, all the conditions do not seem right for the look.

Namely, that you do not have three-fifths majority to pass it?

Indeed, I spoke with most opposition leaders. They spoke clearly. They are not committed to voting the golden rule in Congress. Pending the outcome of consultations with the Prime Minister, I note that the French Socialist Party is the only one in Europe to adopt this posture.

Should we still call the Congress?

The president said if the opposition decided not to join this initiative, decisive for the future of Europe, it would be one element of the debate for the next presidential campaign totally free credit score. There is no emergency.We have until the summer of 2012 to reform the Constitution. Until then, it happens a lot and the French will have to choose between courage and dangerous demagogy.

What would happen if the text was finally rejected in Congress?

The absence of a qualified majority in Congress, after a positive vote in both chambers, would be a first under the Fifth Republic. The risks of rejection are real in a very sensitive issue, so we know very well that national unity has a lot in the difficult times through Europe and the euro, and also through France.

Jean-Francois Cope continues to ask Borloo to surrender to appear in 2012. Do you think the president of the Radical Party will go anyway?

Borloo belonged to the government of François Fillon for nearly four years.It is in the majority, a personality that counts. He contributed greatly in the ministries which he was responsible. His place is obviously in the campaign alongside Nicolas Sarkozy, not a competitor.

You think he will return to the fold?

I hope with all my heart and, as an intelligent and responsible, I think.

What makes you optimistic for the re-election of Nicolas Sarkozy?

What matters are not the polls, which have often said the opposite of what came out of the polls. The important thing is what has been done and what the French can expect the next five years. The President has taken, in exceptional circumstances, the right decisions at the right time with courage. Nicolas Sarkozy, during his presidency of the European Union or the G20, led the way.It was also the strong man in particularly difficult crises: the economic crisis in 2008, the crisis in Georgia, the Libyan crisis. The French need in a dangerous time, a head of state determined, courageous and experienced.

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The bill may be steep Irene. The governor of New Jersey, Chris Christie, has evaluated this Sunday on the NBC television network damage caused by Hurricane "billions of dollars, even tens of billions of dollars." According to an alternative estimate delivered by the consulting firm Kinetic analysis, the hardware cost of this storm is expected to rise between five and ten billion dollars, most likely around seven billion. Just to the North Carolina and South Carolina, two states already affected by the hurricane, the amount of losses expected to reach between 200 and 400 million.

Above all, this damage should be responsible in large measure to the State, businesses and individuals, when insurers should take on a lesser share of the burden, said Chuck Watson, one of the leaders of Kinetic Analysis told AFP."Most of the structural damage will be caused by the rising water because of rain and coastal flooding. Yet this type of damage is not covered by private insurance, "said he.

The same applies to losses caused by the cessation of activity in areas relevant to the coast, or the cost incurred by the evacuation of hundreds of thousands of people. Thus, New York, usually hectic, has been transformed this weekend into a ghost town, most shops have closed up shop and residents have been urged to stay home. But there is no damage reported, insurance should not pay a dime to compensate their members.

Insurers expected to be down

Insurance companies, however, should see their value fall Monday at the New York Stock Exchange.On Friday, insurers Allstate and Travelers had fallen to the lowest levels for two years, investors anticipate the costs incurred by the hurricane for those companies.

The amount of the invoice should still be less than initially estimated. Thus, Kinetic analysis was planned on Friday that a tornado could generate over 12 billion euros of damage if it hit New York at the height of its intensity. Finally, she was demoted to a mere tropical storm, with winds still 100 km / hour. These amounts are in any case of a different order of magnitude as the colossal damage of about $ 100 billion registered during Hurricane Katrina in 2005.

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Caution on Asian stock markets Friday. And for good reason, investors are waiting with some anxiety the president's speech to the U.S. central bank, Ben Bernanke, the outlook for the U.S. economy. The markets had a first look Thursday with the increase in weekly jobless claims in the United States. They are very careful before publication at 14:30 (French time) the second estimate of GDP for the second quarter could be revised down by 0.2 point to 1.1%.

Meanwhile, the Asian financial centers are clearly hesitant and have not adopted the same direction. Thus, while the Nikkei in Tokyo Stock Exchange gleans some points (0.13%) to 8783.99 points, retreating Chinese stock markets: the Hang Seng in Hong Kong was down 0.21% to 19,710.10 points and the Shanghai CSI 300 lost 0.89% to 2877.99 points.

Japanese Prime Minister resigns

Also in Japan, criticized for his hesitation and awkwardness to the disaster caused by the earthquake and tsunami of March 11, Prime Minister of Japan, Naoto Kan, has resigned as chairman of the Democratic Party of Japan, according to media Japanese payday loans. And therefore of his duties as head of government.

On the macroeconomic front, the consumer prices in Japan rose 0.1% in July after a revised 0.2% decline in June.Analysts on average expected a further decline of 0.1%.

On the other Asian financial centers, the trend is mixed if the Taiwan TAIEX gains 0.40% at 7440.37 points, the Kospi in Seoul was up 0.47% to 1772.80 points, the BSE Sensex 30 advance 0 , 12% to 16,165.70 points, the S & P / ASX 200 was down 0.28% to 4200.90 points and the FTSE Straits Times lost 0.71% to 2746.10 points.

Oil not very active

Oil prices were mixed Friday morning during electronic trading in Asia, in a sluggish market, before the highly anticipated speech of the head of the U.S. central bank (Fed). In morning trading, a barrel of "light sweet crude" for delivery in October gave 10 cents to 85.20 dollars per barrel of Brent North Sea crude for October delivery took 19 cents to 110.81 dollars.

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Despite the strong rebound on Wall Street Tuesday, Asian stock markets are unable to confirm their good performance yesterday morning. Including the Nikkei Stock Exchange Tokyo loose 1.07% to 8639.61 points, after opening up 0.78%.

Moody's has in fact degraded by one notch (to Aa3) Note the long-term debt of Japan due to the massive debt the country, aggravated by the earthquake of March 11. In the process, the U.S. rating agency also lowered the rating of a crazn debt of large Japanese banks (Mizuho Bank, Bank of Tokyo-Mitsubishi UFJ and Sumitomo Mitsui Banking).Mizuho lost 0.89% to 111 yen in Tokyo Stock Exchange, Mitsubishi UFJ Financial loose 3.21% to 331 yen and Sumitomo was down 1.67% to 2172 yen.

Tokyo takes steps against the high cost of yen

While the yen regained some ground against the euro (110.52 yen per euro) and was stable against the dollar (76.70 yen to the dollar), the Japanese government also announced a series of measures exceptional to help companies: including facilities will be granted to them by creating a special fund of 100 billion dollars taken on the foreign exchange reserves to encourage them to invest abroad guaranteed approval cash loans.

Despite this, the export value, including automobile manufacturers, continued to decline in stock: Honda lost 2.28% to 2,311 yen and Toyota gave up 2.02% to 2707 points.

Chinese financial markets, the Hang Seng lost 0.81% to 19.714.50 points while the CSI 300 gained 0.35% to 2830.83 points.

As for other Asian financial centers, the trend is also mixed: the Taiwan TAIEX was down 0.11% at 7541.80 points, the Kospi Index in Seoul lost 0.61% to 1765.78 points and the FTSE Straits Times of Singapore gives 0.48% to 2752.01 points. However, the BSE Sensex 30 Bombay is stable at 16,502.90 points and the S & P / ASX 200 advance 0.23% to 4182.80 points.

Oil prices rise

Oil prices were up Wednesday morning during electronic trading in Asia, with Brent who was close to 110 dollars a barrel because of uncertainty about the situation in Libya. In morning trading, a barrel of Brent North Sea crude for October delivery gained 50 cents to 109.81 dollars. A barrel of "light sweet crude" for delivery in October was appreciating by 18 cents to 85.61 dollars.

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The Paris Bourse was hesitant at first. On Monday, the CAC 40 index opened down 0.85% below 3000 points. But the trend was quickly reversed. The benchmark index in Paris and flew from 1.46% to 3061.08 points in mid-session. 3000 points will retain the objective of the day. This threshold, which had escaped during the meeting with investors last week, was saved at Friday. This did not prevent the CAC 40 to close the day on a sharp drop of 1.92% and losing in five days almost 7%.

Furthermore, volatility is also important. In London, the FTSE-100 index, which started on a decline of 0.82%, now earns a 1.35%. Same movement for the Dax in Frankfurt bouncing 0.10% mid-term after losing more than 1% in the morning.

These policy changes reflect the concerns of investors about the state of the global economy.The United States also focused all fears with the publication of indicators increasingly mixed. This weekend, President Barack Obama admitted that his country was experiencing "a difficult, frightening recession." This should not reassure. He also accused the Congress to halt the reforms he wants to put in place to revive the economy. For his part, Vice President Joe Biden tried to reassure global stock markets and especially the Chinese, the first creditor of Americans saying the country would "never" by default.

Side the euro area, the problems of sovereign debt persist. As the political stalemate. Sunday, the German government has stepped up interventions in the media to reaffirm its opposition to European obligations, yet solution desired by the markets."The Eurobonds are quite the wrong response to the crisis of the moment. They would lead us to a union of debt and not a union of stability, "said Chancellor Angela Merkel who judges the cost of this mechanism is too high for the economy of his country.

Libya move

As in Asia this morning, so caution prevails, especially since no major indicator is in the program. Germany has lowered its forecast of budget deficit to 1.5% of Gross Domestic Product (GDP) in 2011, in a monthly report of the Ministry of Finance released Monday.

Growth is slowing for the fourth consecutive quarter in rich countries, that appears to + 0.2% from April to June compared to the previous three months, according to the Organization for Economic Cooperation and Development (OECD)."The gross domestic product (GDP) in the OECD area slowed to 0.2% in the second quarter of 2011, against 0.3% last quarter," said the organization in a statement Monday.

But investors expect a battery of statistics in the rest of the week including the manufacturing PMI for the euro area (Tuesday), the German IFO index (Wednesday), the weekly jobless claims in the U.S. (Thursday). Wednesday will be marked in France by the presentation of new conservation measures for the country to retain investor confidence and the "triple A".

Friday will be the busiest day with the second reading of U.S. GDP in the second quarter and the index of consumer sentiment.Another highlight of the week: the president's speech to the U.S. Federal Reserve Ben Bernanke, scheduled for Friday.

As for currencies, the euro rose slightly against the greenback. The single currency is worth 1.4419 dollars this morning. Oil markets, traders are watching to Libya where the rebels have entered in Tripoli. If pro-Gaddafi still resisting in the capital, rebel fighters have reached the Green Square, symbol of the regime. The fate of Colonel Gaddafi and therefore the oil-producing country seems uncertain. Seif al-Islam, presented in the past as the future successor of his father, was arrested.In morning trading, a barrel of "light sweet crude" for delivery in September gained 0.84% ​​to 82.95 dollars while that of Brent North Sea crude for October delivery of the territory ceded.

Values ​​to follow

Banking

The AMF may decide Friday, after the close of European stock exchanges, to renew its ban on short selling on financial stocks, but this time for three months. The sector also bounced unevenly on Monday after sharp declines last week, Credit Agricole gained 2.76% this morning before falling back slightly in mid-session (-0.29% to 6.10 euros).BNP Paribas gained 0.95% to 33.06 euros, however Natixis crumbles from 0.76% to 2.86 euros, and Axa, from 0.34% to 10.24 euros.

For his part, Frédéric Oudéa, CEO of Societe Generale (1.34% to 21.15 euros), said Sunday that the nervousness that penalizes banks Scholarships could last "at least until early November."

Paris airport: + 0.73% to 54.17 euros

ADP has registered a record passenger traffic in July, with 8.9 million passengers, an increase of 4.6% over the same period in 2010.

France Telecom (1.04% to 12.68 euros), Vivendi (0.69% to 15.39 euros), Bouygues (0.97% to 21.92 euros) Iliad (1.39% to 80.70 euros)

Some operators are preparing for the end of unlimited Internet access in homes for some clients.

Total: + 3.36% to 33.065 euros

Leading the CAC40, the title has hopes of a quick change of regime in Libya that would allow a reopening of the country's oil installations.

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The mining industry in developed countries is not quite dead. Yet the crisis of 2008 had seemed to him a fatal blow, after years of attrition caused by the scarcity and soaring costs of extraction. But today, the United States, the United Kingdom, Canada … mines reopened thanks to soaring commodity prices.

Chibougamau camp, north of Montreal, had not survived the collapse of prices and had to close in 2008 after fifty years of activity. But the soaring price of copper (+47% in one year), gold (+40% in one year) and money (113% in one year) has to hope René Galipeau, CEO of Nuinsco: "Hundreds of children left when the production was closed after years of operational and financial problems.But work on only two mines could lead to the reopening of the Chibougamau camp … and the return of minors to accelerate the revival of the region. "

Nuinsco group is not the only one who had this idea. Many investors would like to reopen the largest gold mine Bontddu UK (Wales). It must be said that the price of gold rose from $ 250 per ounce in 1999 to 1850 dollars lately!

Local authorities are sometimes hostile

"When we closed the mine, it had become too expensive to operate but with the rising price of gold, we are considering reopening the Clogau mine," Wales said Ken Jones, manager of marketing Clogau Gold jewelry company which owned the rights to the mine.

Other metals are benefiting from soaring prices.Thus, the largest silver mine in the United States will also open in Texas as well as the Chino Mine (copper) in New Mexico. In Britain, the last tin mine, South Crofty Mine, closed in 1998, remember to return to activity. The metal price has increased fivefold over the period (+51% over the year).

Nevertheless, we are still far from the great return of the mining industry. Two challenges are needed to interested investors: the financing of such a project (Nuinsco believes that it would require 40 to 50 million dollars to revive the Chibougamau camp) and agreement with local authorities, sometimes hostile projects. This is the case in South Crofty in England, where the community wants to build a recreation center on the site.

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After a rebound during the session, Wall Street has finally caught up by letting the gloom hanging over global stock markets for two weeks at the close on Friday, the Dow Jones gives 1.57% to 10,818.48 points and the Nasdaq, dominated by technology loses 1.32 points 2341.86.

After opening in the red, the indices of New York had yet managed to climb briefly into the green. Before ending again in the red. Of all black this week, the Dow Jones lost 3.71% and the Nasdaq fell 6.53%.

This Friday, the NYSE has not been spared by the new storm that struck the European stock exchanges and which had already shaken the stock markets in Asia. Yesterday, as elsewhere, the New York Stock Exchange closed down a massive, affected by disappointing indicators released during the meeting confirming the poor performance of the U.S. economy.Moreover, operators, already worried by the economy of the euro area, were cooled by the large loan dollars awarded by the European Central Bank (ECB) to a bank in Europe, whose identity has not been revealed. This action has reinforced doubts about the ability of banks to refinance the region. The euro also declined against the dollar and is trading around 1.4290 dollars against 1.4319 on Thursday.

Finally, Morgan Stanley confirmed the fears of a global economic slowdown by scaling back its growth forecasts for 2011 and 2012. The bank also said the United States and Europe were "dangerously close to recession."

Evidence that the operators' confidence is at its lowest, gold, a safe haven par excellence, is powered from yesterday to new heights.On Friday, an ounce reached a new record in 1864 dollars after jumping up to 1867.30 dollars in the morning. For its part, a barrel of U.S. light crude oil, which fell 6% yesterday, still lost 12 cents Friday to 82.26 dollars a barrel. Over the whole week, he lost 3.12 dollars, or 3.65%, registering a fourth weekly loss in a row. Contracts on October Brent have lost them for their $ 1.63 to 108.62 dollars a barrel.

Values ​​of the day

On the corporate side, this session will be marked by a slump in Hewlett-Packard, which lost just over 20% to 23.60 dollars. The group published its results on Thursday lowered its annual forecast for the third consecutive time. It now expects an annual turnover of between 127.2 and 127.6 billion dollars, against a previous estimate of between 129 and 130 billion.The group, which has made a takeover offer for the British publisher of software Autonomy, has also announced plans to dispose of its business in personal computers. Another major surprise: HP goes out of business in the mobile, arresting the development of tablets and smartphones.

Bank of America (-1.14% to 6.93 dollars) will remove 3500 positions during the quarter, according to an internal document cited by Reuters.

Autodesk (-11.69% to 23.41 dollars) has reported a 6% increase in revenues in the second quarter and a net profit better than expected at 71.2 million euros, or 30 cents per share.

Gap (-8.61% to 10.67 dollars) on Thursday posted quarterly earnings above expectations of analysts, despite a decline in sales to a number of store.Net income for the group totaled $ 189 million (131.8 million), or 35 cents a share, against $ 234 million, or 36 cents per share a year earlier.

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Many observers believe that Kodak missed the turn of the digital. The giant of photography at the age of 130 years, could now take his revenge with his key weapon: a portfolio of 1100 patents for digital imaging. These inflame the lusts of the giants of the computing and telephony, Apple to Microsoft via Research in Motion (RIM) – Blackberry's parent company – and Google, which multiply purchases in this sector to enhance the functionality their phones.

The phenomenon was illustrated recently by the acquisition for $ 12.5 billion, Motorola's Mobility by Google. An operation that allows the Internet giant to hand over a lucrative portfolio of nearly 17,000 patents telephone.In early July, a consortium led by Apple and Microsoft spent $ 4.5 billion to acquire the patents of the Canadian telecom equipment supplier Nortel for bankruptcy.

"Clearly, the ability to take pictures and send them to mobile devices is critical for manufacturers of smartphones, and Kodak may hold the key technologies that provide these services," said Paul Ausick, the financial website 24 / 7 Wall Street.

Kodak ready to sell

More operations and acquisitions are increasing the portfolio of Kodak takes the value. The financial firm MDB Capital, in an interview with the Bloomberg financial agency, has said the group's 1100 patents were worth, in today, nearly three billion dollars. All of Kodak's intellectual property would be five times the value of the company itself.The news panicked investors rushed to the title at the New York Stock Exchange yesterday. The action Eastman Kodak jumped 25.70% to 2.69 dollars.

Kodak, no question of missing the boat. According to the Wall Street Journal, the manufacturer of cameras "began promoting its portfolio this week, contacting companies that might be interested." Kodak said currently "explore strategic alternatives" for its patents.

When it is launched, the battle for the acquisition of these technologies will be tough. Kodak could play the card by removing the grudge he accuses Apple and RIM already violating its patents on technology for viewing photos on their iPhone and BlackBerry.

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How to stop the contagion of the crisis of debt in the euro zone? European leaders are working on the subject while, after Greece, Ireland and Portugal, the budgets of Spain and Italy still worried. Among the options considered: Eurobonds. Berlin does not want to hear about it, Paris does not show much enthusiasm either. However, this proposal is increasingly cited as the most credible to stem the crisis.

What Eurobonds?

Eurobonds (in English or eurobonds) are bonds issued by all 17 Member States of the euro area and subscribed in their common name.The rate of these bonds would be an average for the various member countries, now very different depending on the health of national economies: while German interest rates to 10 stood at 2.62%, those of the Greece nearly 15%.

The creation of the Eurobond, which would mark a greater economic integration in the euro zone, would be to pool the debts of member countries.

What are their advantages?

"If there had been the 'Eurobonds', we would not have today's crisis," says the Italian Minister of Economy, Giulio Tremonti. Such titles would indeed to most indebted countries to borrow at rates lower than those applied to them today. And so break the current vicious circle: with interest rates high, they struggle to refinance markets.

Last week, the European Central Bank (ECB) has disbursed a record $ 22 billion of debt to buy Italian and Spanish, allowing a relaxation of bond yields. But for many, these measures are not sufficient and Eurobonds appear as the most credible to stop the contagion of the debt crisis.

Opposing their creation?

Germany refuses to discuss it. Berlin has in fact particularly low interest rates and would be the big loser of the pooling of European debts. She also fears that the Eurobond release the pressure on states to réquilibrer their finances. Germany wants a greater economic cooperation among member countries of the euro area and the creation of a European institution that would oversee the fiscal policy of each.

Hence the warning before the meeting between Nicolas Sarkozy and Angela Merkel on Tuesday afternoon: "We will not cover Eurobonds on our own because it is not, in our opinion, a way desirable or practicable" , said the spokesman of Chancellor allemande payday advance.La France also spoke against the Eurobonds.

"We have a common monetary policy and fiscal policy in each country individually," which results in different interest rates, and "as is the case, Eurobonds are not an option"

Has revived the debate?

The creation of Eurobonds is promoted by long-time supporters of federalism in Europe, including Jean-Claude Juncker.States who suffer from debt interest rates are higher, of course, too, this solution in a positive light.

But even in Germany, the idea seems to be gaining ground: the president of the association of German exporters (BGA), Anton Boerner, has taken a stand for the creation of European bonds, "We need it, and we needed quickly, "he said, calling for the introduction of" golden rules "budget to support their creation.The German daily Die Welt also reported this weekend that the German government began to consider the Eurobonds.

Britain, which has not adopted the euro, has also come out in favor of Eurobonds by the voice of his finance minister, George Osborne: it asked "institutions in the euro area to all that is necessary to maintain stability ", describing the disintegration of the euro as" economic disaster including the UK "." Solutions such as Eurobonds and other forms of security must now be considered seriously, "he added.

Other voices were heard recently in favor of it "Europe needs Eurobonds," said the investor George Soros in an article published Monday by the Financial Times: "Germany and Other countries have AAA in one way or another to create a system of Eurobonds. Otherwise, the euro will collapse. "

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