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The damage is limited. After the first weekend after the degradation of the sovereign rating of the United States by Standard's and Poor's, the world was afraid to wake up on Monday on a stock market crash. Certainly, Asian stock markets, first to start the week and give the trend, showing all this morning a marked decline of more than 2%. But the risk of a crash seems for the moment excluded.

In Tokyo, after opening down 1.40%, the Nikkei 225 for blue chips ended down 2.18% to 9097.56 points.La statement last night, the Japanese Minister of Finance Yoshihiko Noda, who has maintained confidence in the U.S. Treasury, was not enough to allay the concerns of investors. The Minister emphasized the mobilization of the European central bankers, a sign of awareness on the efforts to be undertaken.

More than 48 hours after the announcement that shook the world's largest economy, Asian investors have been partially sensitive to the political mobilization of the weekend, both of European leaders, who called for the adoption by the end of September the bailout of Greece on 21 July. But also that of the ECB, on Sunday night discussed a possible acquisition of Italian and Spanish debt, and the White House, which yesterday called for unity among Democrats and Republicans.

The yen is rebounding

Still, if the announcement of the degradation of the United States was somewhat expected in Asia, the timing chosen by Standard & Poor's has caught the markets, even after a weekend of reflection, continuing their descent into hell.In this context of concern about the state of European and American finance, the yen has tended to take some strength vis-à-vis the dollar and euro saving account payday loan. Around 4 o'clock, Paris time, the dollar was worth around 78.05 yen and the euro hovered on the other hand around 111.90 yen, the two displayed small decline vis-à-vis the Japanese currency. A phenomenon still unfavorable export values.

Other major Asian markets show a stronger decline in Tokyo. China, which was very critical this weekend against the failure of U.S. lawmakers to find a long-term solution to their debt problems, the tooth was also harder on the markets: the Hang Seng Hong Kong picks up 4.12% on Monday morning at 20,082.80 points while the Chinese CSI 300 lost 3.51% to 2795.64 points.Beijing is by far the largest holder of U.S. debt in the world with 1.16 trillion dollars of U.S. Treasury bills in the drawers.

Elsewhere in Asia, all places show a sharp decline. The KRX South Korean loose 3.45% to 7581.86 points, while the S & P / ASX 200 Australian loses 2.14% to 4017.60 points. A Bonbay, the BSE Sensex was down 2.60% to 16,855.60 points. Finally in Singapore, the FTSE Straits shows the largest decline (-4.14%) to 2870.92 points.

Oil continues to tumble

Moreover, in this context very uncertain about the strength of economic recovery, oil prices continued their steep decline on Monday morning in electronic trading in Asia. A barrel of "light sweet crude" for September delivery lost 2.59 dollars to 84.29 dollars.That of Brent North Sea crude for September delivery fell by 2.48 dollars to 106.89 dollars.

At the same time, gold has gone through the roof of 1700 dollars to 1704 dollars an ounce on the market in Hong Kong.

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After years of it alone, Viagra, Pfizer's drug, to fight against impotence, will be joined and overtaken by its competitor, Cialis from Eli Lilly group. John Lechleiter, president, told the German press that Cialis would exceed the reference molecule, the number of prescriptions worldwide before the end of the year.

"In many markets such as France, Italy, South Africa and Australia, we are already with Cialis to Viagra," he said. According to the American College of Physicians, in 2020 some 322 million people worldwide may suffer from erectile dysfunction. In 2010, these treatments generated a turnover of 3.7 billion dollars, 2.6 billion euros.

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The emerging markets are facing a "problem-rich" fight against the overheating of their economies – from 6 to 7% last year – when developed countries are seeking to boost their low growth. "Their macroeconomic management faces a dilemma: keep inflation that accompanies this growth through restrictive monetary and fiscal policies, knowing that increases in interest rates contribute to the massive influx of capital," says chief economist of Coface, Yves Zlotowski. Some countries are better equipped, such as Brazil, the driving force of the South American continent and one of the first to respond, noting early on interest rates and imposing taxes on capital inflows.

Dilma Rousseff, Lula's successor as president, also began to impose fiscal restraint.If the funds continue to flow, growth has slowed down somewhat in the first quarter to 4.2% against 7.5% previously. "Brazil is a highly diversified economy in its exports, with an internal market dynamics. Above all, the country has lead the last ten years important structural reforms, "adds the analyst.

"Institutional delay"

Conversely, the credit insurer is more concerned about the neighbor Argentina, faced with high inflation of 23%, where the industry is operating at full capacity, supported by consumption and fiscal and monetary policy very accommodative personal loans for people with bad credit. Overheating is very important in part masked by a current account surplus driven by exports of soybeans in China. But the landing is likely to be brutal crash.

In Asia, the weakest link is located in Vietnam, with a very open economy model of development with Chinese characteristics, based on the investment, mainly Asian. Iran is benefiting from rising costs in China, resulting in even relocation. This generated a huge credit bubble, whose share in GDP increased in ten years from 30 to 120%. The difference is that it does not have the same cash reserves that China and he is obliged to regularly devalue its currency, the dong. "There is a real institutional delay, the risk is, in a skid, discourage investment, which finance the huge current account deficit," Yves Zlotowski analysis.

However, the restrictions put in place gradually in the large emerging economies – China, India, Turkey, Brazil – should provide a soft landing.The challenge is to develop real consumer markets that go through a reduction in inequalities and a growing middle class and to provide for future growth in developed countries.

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Good student, but must continue its efforts. It is, in short, the message delivered by the rating agency Fitch in France. She confirmed the debt rating "AAA", the best possible, with stable outlook. The French government has taken "a series of measures", says the agency, "which have improved the outlook for public finances." And mention the pension reform, or the draft law in fixing the principle of balance of public finances.

"However, these efforts must be extended to stabilize and then reduce the level of debt of France, which was the end of 2010 to 81.7% of gross domestic product (GDP)," warns Maria Malas-Mroueh, responsible scoring countries at Fitch. A number of risk still hovers in effect on the financial health of the state. Starting with 2012, a major election year.It should not, Fitch warns that the budget skids on the bottom of the presidential election. Especially since the forecast growth in the medium term Bercy (+2.5% per year) are considered "optimistic."

It should not, the agency said that the newly elected unleash the flange to the public finances in 2013. Instead, the agency left little choice to the government that emerges from the polls: "We expect the 2011 budget will meet its objectives (a deficit of 5 Internet Payday loans.7%, Ed), but further efforts are needed to reduce the deficit to 3% of GDP in 2013, as agreed. " Debt levels will then stabilize at a level higher than before the crisis, reducing the flexibility to cope with future crises.

Note "under pressure"

In the medium term, Fitch added that "the memo from France could be under pressure (read: be revised downward, Ed) if the competitiveness of France was deteriorating again and if the position of France was weakening." The agency plans and the current account balance, ie the difference between money coming in and who leaves the territory, will remain negative in 2011 and 2012, approximately 2% of GDP. Fitch impels France to further reduce its "structural rigidities".

Despite these black spots, the Hexagon rest for now, said the agency, a "healthy and diversified economy," equipped "social institutions, civil and effective policies." He added: "financial flexibility reflect its status as a major issuer of sovereign benchmark in the eurozone. Clearly, the markets like, so far, take on France.

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A regular player of poker, whether online or at competitions, he must declare his earnings in taxes? For tax officials, the answer is yes. Especially if it draws most of its revenue. "Even if the amounts are variable, since the gains are regular, it is a professional income subject to the payment of income tax," said an officer in the columns of Le Parisien on Sunday.

Since the legalization of online gambling in France, the number of poker has exploded. They are nearly three million followers. But the IRS is more specifically the big players, they believe capable of winning hundreds of thousands of dollars over the year. The latter could then see their earnings taxed at 40%. Players who would venture on illegal sites should have to pay penalties.According to an industry professional, yet only a few hundred players in France are concerned low rates payday advance.

"The administration is bluffing"

While the controversy swelled, some lawyers try to calm the game "The administration is bluffing by some interpretation of tax legislation, including that concerning the management of revenues, says the daily tax lawyer Eric Haber. According to him, the case law is for poker players because it reaffirms that it is a game of chance and that the sums received are tax exempt.

Aware of this legal aspect, the IRS would try now bargaining with the players concerned: they are choosing to pay a tax, they are engaging with the administration in a long legal process.

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After calls to replace Dominique Strauss-Kahn to head the International Monetary Fund, the firm announced his resignation Thursday morning. "Dominique Strauss-Kahn today informed the board of the IMF of its intention to resign from his position as CEO with immediate effect," said Institution of Washington said in a statement.

"It is with great sadness that I feel compelled today to present to the board my resignation from my post as IMF managing director, said in a letter DSK. "I deny with the strongest possible all allegations towards me.I want to protect this institution I have served with honor and dedication, and in particular I want to devote all my strength, all my time, and any energy to prove my innocence. "

Thus, legally, the IMF chief's resignation appeared the simplest solution to facilitate the smooth functioning of the institution. About this unprecedented situation, the lawyer Dominique Strauss-Kahn, William Taylor and had simply said Wednesday: "I think that ultimately this will be resolved", but refused to specify when and how.The head of British diplomacy was William Hague, he stressed that Dominique Strauss-Kahn, "obviously in a very, very difficult," should "take a decision on his future."

For his part, and after a meeting as "informal" board of directors Monday, the IMF gave no indication on how it intends to manage the fate of its CEO. The institution said to work "normally".

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Facebook and Google are constantly adding new features to their services. Skype could be to them. The social network and search engine would, each in turn, is negotiating a possible takeover of Skype, or a substantial stake.

For those who have forgotten, Skype was a major Internet phenomenon of the mid-2000s. This software provides the means to speak freely to his friends around the world. One condition: that two people have installed the Skype software on their computers. Founded in 2003, the company has added new features Pay, becoming a supplier of low cost calls to mobile phones and wired.He also developed offerings for businesses, focusing in particular on the development of teleconferencing and videoconferencing to several speakers.

Monetize its subscriber base

Finally, since last March, Skype integrates advertising. Bands can be inserted into the video chat. One way for the service provider to diversify its revenue sources and monetize its subscriber base. Although the development of other players makes the offer less attractive Skype. For example, some applications can call for free smartphone to smartphone. In addition, the offensive of ISPs that tend to expand the free international calls and fixed to mobile communications is encroaching on turf Skype.More generally, the advent of services connected to the TV could be fatal to many of the activities of Skype my credit score.

However, the brand portfolio and his clients have a real value, including its shareholders would benefit. There is talk of an IPO since 2009. The project, a time for mid-2010, and January 2011, was again postponed until the fall. However, the capital of Skype is owned by Silver Like notably, a private equity fund, which by its nature, is not intended to remain indefinitely in the capital of the company. Another of its shareholders, eBay, has already expressed his desire to leave the capital of Skype. Two years ago, the site online sales expected to take at least $ 1.4 billion operation. An amount that would have since been revised downwards.

IPO

Skype also interested in Facebook and Google, according to Reuters.Both groups would examine, independently, back. Mark Zuckerberg, the owner and founder of Facebook, lead discussions to buy Skype, or to set up a joint venture. This track would also be explored by Google, even if it has a similar service, Google Voice.

If that fails, Skype, which would seek at least a billion dollars from a partial sale of its capital, has not closed the door to an IPO. The company is currently valued at between 3 and 4 billion dollars.

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Publicis wants to surf the digital delay of French SMEs. The advertising giant on Monday announced the launch of Webformance in France, a new support service for small and medium enterprises on the Internet. Creating a website, running a campaign on Google, viral marketing, content development videos, development of e-commerce … the subsidiary of Publicis, based in Lyon aims to provide a toolkit facilitating the use digital SMEs.

"Our goal is to put the power of the Internet service. It is about giving them the opportunity to be present in an effective manner, to win new customers and retain existing customers, "said Maxime Baffert, CEO Webformance.Publicis, which has made more than 25% of its turnover in digital in 2010, intends to push its advantage and be the rendezvous of the digital development of small French companies. If this activity is marginal in terms of overall activity of the group, it constitutes, according to CM-CIC Securities, a "first step on the market for local advertising on the Internet relay natural growth" of Publicis.

Digital divide

For if large groups are heavily present on the web, using, for example with ease social networks as a marketing channel, SMEs and SOHO will always lag behind heavy consequences. A recent study by the Observatory for small business, 62% of entrepreneurs interviewed said they did not have an Internet presence.A good third of them confide even never use e-mail!

"We have five years to catch up with our European neighbors," says Jean-Michel then Yolin, vice president of the Business Innovation and Ministry of Economy. A technology gap even more crippling consumers invest heavily online. According to a survey by TNS Sofres, 41% of French people surf the Web to learn about a professional. And 81% of them consulted the Internet before making a purchase online or not, "says the federation of e-commerce. "For businesses, digital literacy is a genuine issue of competitiveness," says Jean-Michel Yolin.

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Just under one fifth of the CAC 40 published on Thursday morning. After Wall Street closed higher Wednesday on the Paris Bourse is expected to remain cautious in the wake of this new wave of publications heavyweights rating.

Since Wednesday, the U.S. macroeconomic news will be especially with the United States: Inflation in January (1430), the weekly claims for unemployment benefits (1430) and the composite indicator of economic activity in January (16 hours).

In France, expected numbers of start-ups in January (8.45) and the presentation of the 2011 Annual Public Report of the Court of Auditors (1230).Around 10 am, will be published balance of payments in the eurozone.

On the currency markets, the euro is stable against the dollar on Thursday morning at 1.3560 dollar.

BNP Paribas missed market expectations in the fourth quarter

Despite a 2010 net profit up 34% to 7.8 billion euros, BNP Paribas has missed market expectations in the fourth quarter, after a depreciation in its accounts unexpectedly on its stake in Axa.

Canal + France said it had registered Wednesday its core document with the AMF, to an IPO in Paris 20% of its capital.

The insurer Axa in 2010 recorded a net profit of 2.749 billion euros, down 24%, affected by special items related to divestitures in the United Kingdom, according to a statement released Thursday.

PPR has reported an annual net profit up 1.4% to 965 million euros, while its turnover in 2010 rose 7.5% to 14.6 billion euros.The distribution group and luxury is confident to achieve this year's financial performance than those of 2010.

Technip table for this year on a turnover of about 6.5 to 6.7 billion euros and an operating margin Subsea (subsea infrastructure) above 15%.

Schneider Electric has published on Thursday a net profit doubled in 2010 to 1.7 billion euros.The group targets a growth of 6 to 9% this year, a margin which improved to reach 15 to 15.5% in 2011.

The wine and spirits group Pernod Ricard said Thursday net results in increase in the first half of its fiscal year offset.

The consulting group Capgemini and Computer Services posted Thursday a net profit in 2010 increased 57% to 280 million euros forecast for 2011 indicating a growth in turnover of between 9 and 10%.

TF1 takes advantage of the recovery in advertising market

TF1 double its annual net profit to 229 million euros thanks to the upturn in the advertising market.The group chaired by Nonce Paolini expects a stagnation in sales 2011, after it rose 11% in 2010.

Alcatel-Lucent is confident about its prospects in the U.S. this year, based on significant contracts with major operators in the country, Verizon and Sprint Nextel, told Reuters his director of the Americas.

The European Railway Agency in March will make its technical opinion on the circulation of new types of trains through the Channel Tunnel, which will build review the Franco-britaninque responsible for settling the case, said Wednesday Thierry Mariani.

Scor announced Wednesday the sale of its fixed annuity in the United States to Athene Holding for 55 million dollars (40 million).

Saft has announced an acceleration of its business in 2011 but a slight margin decline due to one of its plant projects in the United States.

Icade intends to continue the service sector of its activities with delivery over the next several years of its pipeline projects valued at 900 million euros.

After market, Eutelsat will publish its first half results.

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The economy continues to create jobs. The companies have created positions 35.5000 fourth quarter of 2010, representing an increase of 0.2% of employment, whichever comes first estimate of employment issued Friday by the INSEE. Dynamics on the labor market has increased over the third quarter, 19,200 jobs were created from July to September. The latter figure has also been divided by more than two compared to the first estimate, which stood at 44,600.

The figures for the fourth quarter were driven by the interim as in the previous period, which represented over two-thirds of new posts, or 24,000 jobs. This represents an increase of 4.2%, similar to that of the three previous months (+4.1%).

The service sector is the only one that shows job growth in the fourth quarter, up 0.4% or 48,400 net jobs created over the period. The industry and construction are still heavily depressed. The first course was destroyed fewer jobs than in the second quarter, -9000 cons 16,600 over the previous period. But the crisis in the construction continues, with 3,900 job losses, -800 against the previous quarter.

During 2010, the number of jobseekers has risen steadily, according to figures from the employment center. Depending on the category chosen, the number of unemployed was between 2.72 and 4.05 million, an increase of between 801,000 and 202,500 people.

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