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Indecision on the Paris Bourse. After losing 2.17% below 3100 points yesterday, the CAC 40 opened down sharply, falling more than 2% in early trade. He then did an about face and moves from 0.12% to 3078.02 points, around 10:20.

As on Wall Street and Asian stock markets, doubt seized investors, who are now considering the worst: a contagion of debt in the eurozone. With the center of these concerns, the situation in Italy, including the implementation of austerity measures remains uncertain. The announcement yesterday of the upcoming departure of Italian Prime Minister Silvio Berlusconi has in fact added to the uncertainty, as evidenced by soaring rates of the Italian Treasury ten years by 0.5 percentage points to 7.20%.

Unison concerns of investors, Brussels found the Italian debt situation "very worrying".Ditto for the International Monetary Fund: its director Christine Lagarde said today that "lack of political clarity" in Italy supplied the uncertainties, according to Reuters. Similarly, managers of U.S. Pimco, the largest bond manager in the world, estimated that "6% and 7% interest rate, the country will fail to stabilize its debt, which will become uncontrollable ".

To this distrust Rome, plus doubts about the ability to bounce back from Greece after the Greek Prime Minister George Papandreou announced his resignation Wednesday. It did not cite the name of his successor, who will not be released until Thursday.

Consequence of this climate morose, oil prices were down Thursday, though the announcement on the eve of an unexpected fall in U.S. oil stocks managed to halt the downward trend.

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After finishing the week on his guard, down 0.04% to 8,678.89 points last Friday, the index of the Tokyo Stock Exchange is in pressed green area on Monday, gaining 1.69% just prior to closing. The markets reacted positively after the summit in the euro area this weekend, to put an end to the debt crisis. Meeting in Brussels, Nicolas Sarkozy and Angela Merkel Sunday near their positions on the fateful question of European bailout fund and its clout in the marketplace. However, on request of Germany, the final decision will be taken until the night of Wednesday to Thursday, after another conclave of crisis.

Other Asian markets followed the upward trend in the Nikkei.The Hang Seng index of Hong Kong Stock Exchange rose 3.92% to 18,731.70 points, the CSI 300 Shanghai 0.66% to 2524.45 points, the Kospi index in Shanghai 2.86% to 1891 points, the BSE Sensex 30 in Mumbai 1.76% to 17,080.30 points the FTSE Straits Times of Singapore 1.95% to 2765.21 points and the S & P / ASX 200 Index 2.65% 4251.80 points Sydney.

Considering the situation "very complex", Nicolas Sarkozy has sought reassurance "negotiations progress on the issue of banks on the issue of Greece, things are progressing," he said. Selun President of the Republic, "a broad agreement is emerging on strengthening the EFSF." For its part, Angela Merkel added that the proposed model does not imply the ECB, as advocated by France.Clearly, the European bailout fund (EFSF) leverage its resources, but no new States' contribution of the euro, or use means unlimited in principle of the ECB. With leverage, the EFSF-today with $ 440 billion, and could see his strike force raised in 1000 or € 1500 billion.

The euro against the dollar stable

In addition, the euro area is considering creating a special fund that could be echoed by emerging countries to stem the debt crisis payday loans. China has expressed particular the possibility of financial support.Still, this idea is controversial, some states are reluctant to explicitly request the help of Beijing, according to diplomatic sources cited by AFP.

Until particularly critical of the slow pace until the EU to manage the crisis, the IMF, through its Executive Director Christine Lagarde, immediately praised the "very good progress" on Sunday. "It was really an effective meeting, and I hope it is really in the right direction for Wednesday," she insisted.

In addition, manufacturing activity in China rebounded in October after three successive months of contraction, according to preliminary PMI HSBC on Monday.The PMI purchasing managers calculated by the Bank rose to 51.1 in October, against 49.9 in September.

The hope of ending the crisis in Europe supports banking stocks

As a result of signals in the euro zone considered good, banking stocks rose. In Japan, Nomura Holdings gained 2.47% to 291 yen. While in Australia, Commonwealth Bank of Australia rose by 2.69% to 48.83 yen.

Also note that the Renault-Nissan hopes to sell 1.5 million electric cars in the world within five years, said Nissan (0.58% at 696 yen to the Tokyo Stock Exchange) on Monday in the part of a respect for the environment.

Oil prices were up in early trade Monday morning in Asia in electronic trading in the morning, a barrel of "light sweet crude" for December delivery gained 8 cents to 87.48 dollars on the New York Mercantile Exchange .Hand currency, the euro is stable against the dollar on Monday, the single currency displayed in the balance dollars 1.389 (-0.02%).

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Post mail, package and fill out the refrigerator in one place. This is the idea of ​​the Post Office, which seeks to exploit its unused surfaces since the closure of distribution centers mail. Casino won the tender and signed a five-year contract with the real estate subsidiary of La Poste, Poste Immo. Fifty convenience stores Petit Casino will open in early 2012 adjacent to the local post offices, in municipalities with fewer than 12,000 inhabitants.

The Petit Casino will have a separate entrance and will be approximately 200 square meters. Their selection will be tailored to local customers, "he will propose a point of warm bread if the village does not have a bakery, and salads to eat on the run over pedestrians in places," said Jean-Pierre Lanzetti, who heads the branch close to Casino.

The distributor further strengthens its leadership in the food trade of proximity.A total of 6700 stores Petit Casino, Casino shopping, shop Casino, Spar and Vival exist in France.

Post this partnership ensures that help to lower its real estate costs and that can "boost territories and improve service provision and attractiveness of city centers."

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"Unfortunate but inevitable to become a company agile and competitive," with these words that Franz Van Houten, CEO of Philips since last April, has justified the 4500 job cuts (about 140,000 worldwide) announced Monday by the group. These job cuts are the result of a plan to reduce the cost of 800 million euros that the Grupe has put in place.

During the third quarter, Philips saw net profit of 85% melting, falling to 76 million euros, sales almost stable at 5.3 billion euros.

The decrease results from Philips is attributable to a decline in margins in almost all its businesses, affected by higher raw material prices and a loss of 54 million euros in the only television division.

The Netherlands announced in April the creation of a joint venture with Chinese TPV, which was to hold 70%. The operation is more complicated and time than expected to implement. Philips announced on Monday again consider all options for this activity, including abandonment, in the event that negotiations with TPV unsuccessful.

Conservative prospects

Among the plus side, the management has sought to highlight the sales growth in developing countries and the good of his health and Lighting divisions. The turnover of the latter rose by 8% over the period, including one worn by 32% growth in sales of LED. But as for the rest of the group, margins were sealed by higher raw material costs.

The group is also very prudent for future prospects.Thus, sales of its health division, specializing particularly in medical imaging, depend largely on government decisions for Buget hospitals.

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Faced with the fear of a general banking collapse, the Franco-German couple is once again under the spotlight. And once again, things are not simple. Nicolas Sarkozy on Sunday in the German capital to "speed up" with Angela Merkel the implementation of the bailout of a Euro still full turbulence. The urgent need for the French president and German chancellor, is to flatten their differences on the use of the European Financial Stability Fund (EFSF) and reach a tentative agreement on the thorny issue of the recapitalization of banks.

Angela Merkel ruled Thursday that "there was a need to recapitalize, it would be reasonable to invest money" in terms of what could cost an emergency rescue industry.But she insists on the fact that the Fund will be used to bail out financial institutions on the condition that states can not themselves "to support the recapitalization of their banks' and it puts" endangered the euro area as a whole. "

In fact, Paris Berlin suspected of wanting to directly use the emergency fund to recapitalize banks weakened by the prospect of a debt reduction Greek. "The French have misunderstood the EFSF, decrypts it does in Berlin. Our position is that banks must first seek funding markets, and the side of the national public authorities. Only when there is no money available comes the European level. The EFSF is a tool for countries like Greece or Portugal.If a country like France – among the strongest financially of the euro area – wants to appeal, then this is the door open for all members of the area had ro dig into the fund. "

Berlin suspects Paris

An over-interpretation, says it does on the French side. "We have not yet begun to discuss that!" Do we wonder at the Elysee. At Bercy, it ensures not see fundamental differences with Berlin. "We agree with Germany, said the entourage of the Minister of Economy, Baroin, the fact that more capital into banks, including French," even if only to meet new international standards of Basel III in 2013.Whenever possible, the French banks also plan to comply with without recourse to the capital, let alone the U.S. – by separating certain activities if necessary, by distributing fewer profits to build equity .

But if there had to be re-capitalization, especially to reassure investors, "the sources must first be private," insists one at Bercy. "Ultimately, this should be to rely on injections of public capital." According to Paris, "a European coordination is essential to determine the amount of capital to meet the deadline by which this capital is to be achieved, and the tools for that. " It is on these criteria that France and Germany could agree this weekend.For its part, Brussels will make proposals for a coordinated recapitalization "in the coming days."

Moreover, given the deepening crisis, Angela Merkel has gradually accepted the idea of ​​economic governance of the European Union, defended by Nicolas Sarkozy. Expanding the powers of EFSF part of this process. However, the Chancellor – who imposed hard fought his troops to ratify the Bundestag building – is faced with a majority crossed by a strong current Eurosceptic.

Markets would also like to know more about the technical means to leverage the clout of EFSF. These contain the spread of the crisis heavyweight like Italy, Spain, and Portugal, while the levees are still weak.Should we go further and erase a more substantial part of the Greek debt? Should we consider that the Fund provides guarantees? The German finance minister, Wolfgang Schäuble, at least possible that Germany spends more money than EFSF the 211 billion passed by the Bundestag.

These tensions, it is now the standard mode of operation between Paris and Berlin. Pressure mounts on both sides of the Rhine, until a compromise emerges in a head-to-head at the highest level. Given their respective domestic political weakness or Merkel or Sarkozy can not afford a failure.

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Moody's warned that it was British banks in the crosshairs. So she lowered the notes yesterday of seven small establishments that specialize in mortgages but also five major banks such as Lloyds Banking Group, which comes down a notch to "Aa3" to "A1", and Royal Bank of Scotland , which loses two notches to "A2". She also announced plans to lower the rating for long-term debt of Belgium, currently the second best possible "Aa1." The rating agency said in a statement it would review the country's vulnerability to the crisis of debt in the eurozone, growth prospects and uncertainty surrounding the possible support to the banking system, particularly the establishment Franco-Belgian Dexia.

Moody's, which has deteriorated in the wake of 9 banks in Portugal, is the difference between Portuguese and British situations.If Portugal is the financial institutions that is pointed, this is not the case in the United Kingdom. The decrease is only due to the fact that the government committed to a policy of strict fiscal discipline, is less inclined to support the bankruptcy of its banks, especially smaller ones, "It is more likely that the government is now its most smaller institutions to fail no fax cash loans. The damage does not reflect a deterioration of finances of the banking system or the government. "

Controversy over RBS

So it's the same reason that is invoked only for a few weeks ago degradation of U.S. Citigroup, Bank of America and Wells Fargo on the grounds that the state might be reluctant to help them. Political discourse is to throw doubt on the determination of the support if any one bank.The British finance minister, George Osborne, told the BBC: "People ask me how to prevent the British deposit banks to be in the future? The government is to prepare. As a result, the rating agencies believe that banks will have to prove that they themselves can pay their bills. "

Indeed, the government wants to avoid having to replicate the scheme in 2008. The State had then had to inject billions into troubled institutions, including 22 billion for RBS.

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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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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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Thirty years and not a wrinkle. MTV has reached a venerable age but decided not to grow old with those who, on 1 August 1981, discovered amazed the first television channel dedicated to music. A pioneer, she said that day, not only by imposing as a signature image of an astronaut planting a flag alum and weapons of MTV but also by spreading the first music video in the history of television, Video Killed the Radio Star of Bugglers. Created by Warner and American Express, American chain invented at the time, "the first form of synchronization between picture and sound," but also popularized "the phenomenon of DJs who will push to the extreme contextualization of the music. "In short, MTV is a string subversive.

"Music has long been a huge factor for personalization and identification of the artists," says Thierry Camas, president of MTV Networks France. "We got dressed, and adopted the lifestyle of our stars." With MTV, fans no longer confined to the glossy magazines but follow the escapades and the hits of their heroes on TV and live … historical moments. And Michael Jackson invented the moonwalk, virtually live on the chain-y launched its exclusive clip Thriller. A real event that had nothing to envy to the cinema with his unique format of 14 minutes.This video has forever changed the art of music video and assured the heyday of the chain.

Sensor trend and unparalleled observer of the youth which is the heart of business, MTV is probably the first to feel the mid-1990s that music is becoming commonplace in the extreme. Developed in 2010, the words "Music Television" logo. "The accessibility of music on all platforms, sharing it via social networks has introduced a twist that few industries have known," said Thierry Camas.

Teen in all its formats

The chain is reinventing its original format and media proclaims generational and transgressive. In those years, the musical chain accounts for only 50% of the grid. But to counteract this movement, the group creates variations 100% music.MTV puts adolescents at the center of its innovative all-out in terms of formats. It in the headlines by inventing the first two reality shows with "The Real World" in 1992 and later, the controversial "Jackass." The chain has also exported its "Pimp My Ride," the reality show with crazy cars. Bought in 1986 by Viacom, MTV is developing an international and binding on all distribution platforms. It now operates in 160 countries and has 170 variations. For the group, only one word: "preserve the value of content" on all modes of broadcasting, including video on demand.

"We're agnostic in terms of distribution provided that we are paying," insists Thierry Camas.Today, the group derives its income to 60% of the royalties from operators and 40% advertising.

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