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After the euphoria of Wednesday, the U.S. markets have continued their momentum but at a slower pace frantic Thursday. At the close, the Dow Jones ended up 0.49% to 10,320.10 points, the Nasdaq is 1.06% at 2200.01 points while the S & P gained 0.91% to 1090.10 points.

No big movements, the indices have stagnated at these levels throughout the session. Investors have also learned a pleasant surprise on the side of the job today. Entries weekly unemployment, against all expectations, declined slightly in the United States during the week to August 28, at 472 000 478 000 cons last week, according to the labor department. Economists had expected jobless claims averaged 475,000.

Other good news: the promise of real estate sales have rebounded in July.The index of sales agreements rose 5.2% compared to June, when the 79.4 economists had expected a decline of 1%. The decline in the month of June was revised down slightly, to -2.8% against a 2.6% previously announced.

Statistics mixed

But at the same time, investors learned that nonfarm productivity had declined much more sharply than expected in the second quarter to show its sharpest decline since the third quarter of 2006. Productivity has contracted at an annual rate of 1.8%, instead of a contraction of 0.9% initially announced. Although expectations were counting on a decline of 1.9% over the period April to June, this review again cast doubts on the markets.

Moreover, the increase in orders received by U.S. factories in July was weaker than expected.These have increased – after two consecutive months of decline – from 0.1% to 409.5 billion dollars while economists were expecting an increase of 0.3%.

"It has a low volume of trade, economic indicators rather positive, so it is easy to push the market upwards," said Scott Marcouiller, Wells Fargo Advisors. "It does not happen much on the market," said Lindsey Piegza, FTN Financial, noting the hesitation of the indices during the session. The caution is called for before the publication of the very important report on employment and unemployment in August, tomorrow Friday.

Note that on the foreign exchange market, the euro is up slightly against the dollar, but only to increase its gains amid anxiety.

Burger King flies

On the side of values, the automotive sector should stand today.The month of August has actually been the worst for U.S. auto industry since 1983. Sales declined 21% to 11.47 million vehicles. Ford Motor (0.86% to 11.71 dollars) has reported a sales decline of 11%. General Motors, which is preparing an offering of securities to reduce by nearly 61% of the state capital, reflecting a drop in its sales by 25%.

Always on the side of values, the U.S. computer giant Apple (0.74% to 252.17 U.S. dollars) has unveiled the updated version of its iPod portable should be very surrounded. The Apple brand has also significantly lowered the price of its Apple TV boxes, for playback on a television screen high definition video from a computer.

Burger King (25.08% to 23.59 dollars) has formalized its takeover by 3G Capital at a price of $ 24 per share.The total transaction is valued at four billion dollars (3.12 billion euros).

Warren Buffett has filed a formal offer to repurchase its Berkshire Hataway (+0.38% to 81.22 dollars) for the 19.9% stake it does not already own in Wesco Financial (unchanged at $ 363 ).

General Electric (0.80% to 15.13 dollars) and Westinghouse Electric might spend ten billion dollars (7.8 billion euros) in total to build two nuclear reactors in India, Financial Express reported Thursday.Citing unidentified official sources, the newspaper said the two projects are being finalized in preparation for the planned visit in November, U.S. President Barack Obama.

HP (1.20% to 39.68 dollars) announced Thursday it had raised its takeover offer for 3PAR (2.43% to 32.86 dollars) to $ 33 per share, valuing the company Storage Data to 2.4 billion dollars. In the process, Dell (1.98% to 12.36 dollars) refuses to bid and withdraw from the race.

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While the European equity markets are struggling. But the values related to the construction sector underperforming the broad market on Tuesday. In case, a warning from the Irish group CRH: the largest producer of asphalt in the United States said it expected eventually to a 10% drop in profits for the year 2010 due to the fragility of the U.S. economic recovery.

Obviously, the penalty was not built until the stock market: shares tumble 16% HRA on the square in Dublin. And in its wake, Saint-Gobain and Lafarge, respectively dropping 5.43% and 4.94% and position themselves behind the curve on the CAC 40. Bouygues sold him, 3.65%. In Switzerland, Holcim loose 2.3%, while the pan-European Stoxx 600 index sector yield 4.2%.

Tough competition

Myles Lee, the CEO of HRA, said that the performance of the U.S. economy are "not good", but anticipate relapse into recession. "The economic news from the United States are disappointing and below expectations. It now seems clear that the economic recovery there, even if it occurs, will not be as strong than expected, "he said on Irish TV channel RTE.

Its chief financial officer, Albert Manifold, said his side as the weakness of the commercial construction activity and delayed investments of state and local governments in the United States had generated sales below expectations July and August, usually two months porters.

In addition, pressure on margins is increasing, so that several competitors are trying to reduce their prices, "said HRC.

Commodity prices and budgetary discipline

Harry Sebag, an analyst at Saxo Bank, explains that "businesses have impacted their margins and cut prices to gain market share." Already weakened, companies are also facing the weaker euro and higher commodity prices, driven by demand from emerging countries, which darken the outlook for the sector. Fiscal rectitude who moved to Europe and hence lower investment in construction, does shoved a bit more nail.

For the construction specialist in Europe, Euroconstruct, the sector should not resume until 2012.Particularly affected by the gloomy atmosphere, Ireland, Spain, and Portugal.

In France, since the beginning of the year, Lafarge has won over 37% in stock, Saint-Gobain, 24%, French Cement declined 19%, Vinci, Bouygues 14% and 12%.

A monitor, tomorrow, Wednesday, sales of new homes in the United States, which fall in the afternoon. On Tuesday, the bad news on the front sales of existing homes of great concern.

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LG Electronics has just been invented the first mobile phone with touchscreen, the LG Prada, launched before the popular iPhone, the "chaebol" in South Korea suffered severely in smartphones. The reverse is so severe that the heart of summer, Chang Ma, Vice President Marketing of LG mobile phones, announces the method to return the game "At the end of the year to compete with our rivals, we launch ten smartphones, "said the official, the Wall Street Journal. These smart mobile phones will be launched under the brand Optimus, already used for several months, which will benefit from a dusting. The first aircraft, which will work with the Android OS from Google, will be offered in September. Called Optimus One, it should be distributed by 120 operators worldwide.This will be a smartphone that will allow customers to traditional mobile phones to get into the deep end of the mobile Internet, the official said. With these new products, LG hopes to sell 5 million of its smartphones by the end of the year in the United States.

The major challenge is the world's number three mobile phones that had succeeded, in 2009, establishing itself as the second mark on the U.S. market. In the second quarter of 2010, the dynamic segment of smartphones, which increased 50% to 61.6 million units, its market share was only 1.2% of the second quarter, according to research firm Gartner.

Above all, not a wide enough range, "the average revenue per mobile phone from LG has declined 27.8%," said Carolina Milanesi, analyst at Gartner. The group of Seoul has sought to gain market share at the expense of margins.This strategy has not worked. The division in mobile phones from LG has posted its biggest loss in eight years, in the second quarter, which has plunged to third profits of the chaebol.

Offering more than iPad

And for all mobile phones, LG has shown a decline in sales volume (from 30.5 to 29.4 million units) and market share (10.7% to 9%). The group has suffered, in addition, poor strategic bet. LG had, in fact, intend to become the leading partner of Microsoft. But LG has played the wrong horse: Google has more than RIM and Apple in the United States.

In addition, the market share of Windows Mobile has been halved over one year, falling to 5% of smartphones, say the experts.The weight of Microsoft could again later in the year with the launch of a next version.

Meanwhile, like HTC, Samsung, Motorola and SonyEricsson, LG focuses on Google's Android. The software group in Mountain View will also be used for its next internet tablet, promised for the end of the year. It will have "new functions" compared to the iPad, including "video editing and content creation," the official said the Wall Street Journal.

For now, KT, the largest operator in South Korea announced Friday that it will market in the coming days Enspert Internet tablet developed by a South Korean company specialized in September and that of Samsung. The Apple iPad should be proposed before the end of the year, such as LG.Most manufacturers are penalized by the late arrival of Microsoft in operating systems for low cost internet tablets.

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A Virgin store in the heart of a Carrefour hypermarket? As of August 25, the sign of cultural goods will fetch the radius culture Crossroads Venissieux, a suburb of Lyon. "It installs a true Virgin of 300 square meters, which is the format of our stores in train stations and airports, says the Figaro Jean-Noel Reinhardt, CEO of Virgin Stores. The furniture is furniture Virgin, SEO will be managed by our own sales force. "

Virgin does not just manage the music department, as revealed in early July challenges.fr. The competitor Fnac will turn all the knobs. Carrefour will be delegated as 100% concession for the management of the entire radius culture (books, music and video) off the video games. Virgin and Carrefour have talked for eight months before signing the partnership. "We give a year, said Jean-Noel Reinhardt.If it works, we can decide with Carrefour to deploy the concept in other supermarkets. "

The approach, which aims to "re-enchant" the hypermarket, will allow Carrefour to boost its sales in non-food, fell 5% last year. Such a partnership will allow Carrefour to unload a radius deemed difficult by assigning responsibility to a specialist.

Discussion with SFR

"It's a win-win solution for Virgin and Carrefour, said Jean-Noel Reinhardt. We bring the legitimacy of our brand that appeals to young people. Carrefour, meanwhile, makes us very important benefit of the flow of its customers. "

Along the same lines, other "stores in the store" could be introduced in Carrefour hypermarkets.According to our information, Carrefour declined to comment, and discussions are well advanced with SFR, which could establish phone shops. Other partnerships could be concluded in the arts of the table, with the leader Arc International, or in video games, with Micromania.

The formula of the concession, in which Carrefour Virgin donate a percentage of its revenues, will allow Carrefour to reduce its costs and thus improve its performance. Incidentally, it will also give him the opportunity to redeploy staff to other departments or even reduce the staffing of the culture, both in stores and at headquarters of the distributor, where hundreds of people working on the offer non-food.For its part, Virgin is a way to revitalize its network (30 megastores and six stores in train stations and airports) by increasing sales at lower cost. "The company has developed a range of creative hobbies more interesting than the Fnac, is Thoumine Lawrence, a consultant at Kurt Salmon. But the initiative of Carrefour is presented more as a response to cultural spaces Leclerc, growing steadily for 10 years and the concept works pretty well, an attack against the Fnac. "

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The retraining is an obstacle course. It essentially said that a study by the Agency for the Use of Frames (APEC) published on Wednesday. If managers are increasingly likely to want to retrain mid-career, the process does not become easier for all. Indeed, beyond the speeches that are encouraging businesses, often plebiscite adaptability and motivation of atypical careers, recruitment always leave the spotlight on "cloning profiles," said the APEC.

"Today it is virtually impossible for a framework to achieve what professionals call the diagonal support: change both business and enterprise," said the APEC. Businesses, especially in times of crisis, most want is to secure their recruitment, and thus become more timid, more reluctant to hire people without experience on the job.Consequence: it is now much easier to convert internally, rather than changing at the same time employer. The mobility is viewed positively as a tool for employee retention, and a way to reduce uncertainty in hiring a person unknown.

A passion for the trades "ethical"

Some trades, however, are more open than others to atypical careers. This is especially true for businesses that engage in general skills, such as managers, consultants, sales representatives or heads of human resources (HR). "For people who do that are more and framed by" the shift is easier because it does not require highly technical skills, says a recruiter. However, positions that require some experience.

However, the desire for conversion especially managers aged 35 to 45 years, more inclined to question their journey. "The desire to change jobs is often associated with a need to reduce the dissonance between everyday work and personal taste," says Apec. "I wanted to take my dismissal to give meaning to my life," reflects his side a frame. As a result, trades are often considered ethical on a roll with these candidates for change.

The content of these trades, however, tends to change. While teaching, journalism and social work were acclaimed a few years ago, today it trades on Sustainable Development and Trade Fair that get the prize for ethics in the eyes of managers.Takers.

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It is a ranking Chinese perfectly at ease, quoting Voltaire, Montesquieu, Hugo and the Palace of Versailles, which opened yesterday the forum on cooperation and investment Franco-Chinese organized by MOFCOM (Ministry of Commerce of the People's Republic), the France-China Chamber of Commerce and Industry of Paris.

Wu Bangguo, chairman of the Standing Committee of National People's Congress of China, which was received late yesterday afternoon by President Sarkozy is on an official visit in France until July 14 to seal the reconciliation between Paris and Beijing. Accompanied by more than one hundred business leaders, he will also travel to Lyon, Bordeaux and Marseille.

Forgot the Dalai Lama, forgotten criticism on human rights. Place business.But behind the smiles, Wu Bangguo, who also prepares the programmed displacement of Chinese President Hu Jintao in France before the end of the year, has three messages to convey.

For Westerners who criticize the Chinese to keep their currency, the yuan, undervalued to help their exporters, the Speaker said that his country, despite its tremendous growth, is not rich. "Some of my foreign friends asked me even though China was still a developing country," he joked before answering: "China is and will long remain in the primary stage of socialism."

Market economy

The income gap between cities and countryside, 10 million peasants that break every year in cities, the backlog in education, health care, social security are challenges ahead."The prosperity we have achieved is still a low level of prosperity, incomplete and unbalanced. 150 million people live on less than a dollar a day, "says Wu.

China is also lagging behind technologically, insists the chairman of the Assembly. His "independent innovation capacity is still insufficient," he says to make it clear that if France has invested in some 4000 projects on site, the "great economic power has, in turn, of obvious advantages in science, technology, human resources, management and marketing "and it is time extending them to Chinese.

This great power, said Wu Bangguo, should also be the messenger of China in Europe.Beijing was "with a functioning market economy, marked by greater protection of intellectual properties," says the chairman of the Assembly. "The general level of tariffs has increased from 15.3% in 2002 to 9.8% in 2010." China is a member of the WTO (World Trade Organization). It is therefore necessary that the European Union "as soon as possible recognize the market economy status," says number two China.A statute that the President of the European Parliament, Jerzy Buzec, still does not want to hear.

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Hard times for cement? This seems to believe the stock exchange operators on Wednesday. Every sector is affected by falls in Europe. The Stoxx Construction Materials lost 1.08% to 2550 points. This is the largest sectoral decline in Europe. A wind blowing across the cement concern since the Irish HRC issued a warning on its sales in 2010.

The Irish group announced Wednesday that its sales in 2010 would be affected more severely than expected by the consequences of fiscal consolidation in the euro area and slowing the pace of recovery in the United States. The penalty is immediate Dublin Stock Exchange: securities lost 8.76% to 15.62 euros to 10.40.

Meanwhile in Paris, his rival Lafarge signs the worst performance of the CAC 40.Titles unleash 3.32% to 40.18 euros on a market down by 1.55%.

Bond issue

Furthermore, the stock reacts to the bond issue launched by the French cement. Lafarge announced on Wednesday will raise 550 million dollars (about 437 million euros) from an "institutional investors in the United States. The program will last five years and will focus on a fixed coupon of 5.5%.

The funds raised are expected to refinance part of the group's debt, which on 31 March, amounted to 14.58 billion euros. The settlement and issuance of bonds are scheduled for July 9, 2010.

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Those who doubted the success of the Romanian Dacia brand will be surprised. According to figures released Thursday by the Committee of French, the low cost subsidiary of Renault saw its sales jumped to a whopping 95.8% in June in France. The performance is even more significant than the same period, the automotive sector is down 1.2% in raw data. Last month, 12,075 Romanian brand models were sold in France.

This success allowed Renault to back off in a market increasingly weighed down by the end of the car scrapping. The brand with the diamond cash down 1% of its sales in June against a decline of 5.6% for its eternal rival PSA Peugeot Citroen. Without Dacia, Renault made a performance less significant: -111% of registration last month against 4.1% for the Peugeot brand.

More broadly, the French experience a decrease of 7.9% of their sales. While abroad Nissan (+24.2%) and GM Europe (+21.2%) are doing well.

A good first half

Throughout the first half, however, sales were up 5.4% thanks to good figures at the beginning of the year. In the first quarter, the premium had already broken down, but the manufacturers had assured compensation. Result: the market had increased by 16.9%.

Scrappage EUR 500

According to BFM, the prospects are not reassuring. In the second half, the reduction would be 20%. Nevertheless, the number of cars sold would be even higher CUX 2007 and 2008. For the full year 2010, the decline would be 10%.

The market expected a backlash over the second half of the year.The July 1 heralds a new drop in scrap bonus which amounts to 700 euros to 500 euros. More government aid declining, manufacturers are less able to compensate. In Europe, the example of Germany left pointing to an already difficult year-end. The country, which ended the scrappage scheme in September 2009, showed a slump of 34% of registrations in the month of May.

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In a market worried about the evolution of global growth after poor figures from Asia, European exchanges were falling sharply this morning and Wall Street follows the same path. In the first exchanges, the Dow Jones, who started the session on a drop of 0.75%, accelerates quickly to its fall -1.31% to 10,006 points. The Nasdaq also lost 1.70% to 2183 points and the S & P was down 1.49% to 1059 points.

On Monday, the Dow Jones plunged into the red light moments before the closing. It has receded by 0.05%.

As evidenced by the very low volumes of trade these days, the caution among investors, who are eagerly awaiting the release of employment figures on Friday. Trading volumes remain low.In addition to "the decline of the euro against the dollar, under $ 1.23 in mid-session, weighed on the direction of Wall Street, analysts said Aurel Bgc. A large number of awards, including Spain (Thursday) take place this week and the markets may remain nervous before the termination of the operation of 442 billion euros from the ECB on Thursday. "

Consumer confidence is expected to increase

Meanwhile, on the side of macroeconomic indicators, after consumer spending, announced Monday an increase of 0.2% annualized, against 0.1% expected, consumer confidence is to be unveiled Tuesday. And it is expected to clear up.

Moreover, housing prices in the United States rallied in April, after declining in March, according to the monthly Standard and Poor's / Case-Shiller.They rose 0.4% from the previous month (seasonally adjusted) after falling 0.2% in March.

On the face of currency, the euro continued its fall against the dollar, penalized by fears about the strength of economic recovery and China on debt in the euro area. Around 1530, the euro stood at 1.2181 dollars (-0.86%).

As for values, the 3M group (-1.23% to 78.01 dollars) should respond well after the stock market announcements made on Monday after closing. The industry has raised its guidances for the second quarter with a turnover of between 6.6 and 6.75 billion dollars against 6.52 billion dollars expected.The organic sales growth would be between 16 and 18%.

The book distributor Barnes & Noble (-11.70% 14.49 dollars) might instead fall after announcing a loss of 85 cents to $ 1.15 per share against 45 cents a share. The turnover will be between 1.32 and 1.11 billion dollars against 1.28 billion initially expected.

Google (-1.92% to $ 463) also made the headlines, the U.S. computer giant has sold a deal in Beijing.Given the refusal of China to see the California company to redirect its users to search the HK Group U.S., Google has decided to terminate the transfer, in order not to be censored by Beijing.

Californian Tesla goes public

Tesla electric car manufacturer in California, which comes on Tuesday on the Nasdaq stock exchange, announced Monday it had raised over 200 million dollars with this, beyond his expectations. According to final results of the offering, 13.3 million shares were placed on the market at a price of $ 17, while the group expected more than $ 16. This represents a total of $ 226.1 million, including about 202 million directly back to him. In trading, the shares lost 0.52% to 3.52 dollars.

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If certain points of the pension reform remain "open to discussion" with the unions, the government will not go back. This was the message from Francois Fillon on Friday at a press conference at Matignon. After the day of action which drew between 797 000 and 2 million people across France, the Prime Minister is out of the reserve to a "front stage".

"Whatever the opposition, whatever their strength, we have a duty to ensure the funding of pensions for French", said François Fillon. According to him, longer working hours, and thus, delaying the age of retirement at age 62, is "the only truly effective parameter to avoid bankruptcy.""No engagement will not solve the demographic problem," still insisted the prime minister, noting that previous pension reforms of 1993 and 2003 had been "challenged" and "are now accepted by everyone."

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