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The oil found 70 dollars

Optimism returns on oil markets. On Thursday, oil prices have ended on a 4% rise to 74.55 dollars in New York, gaining 8% in two sessions. The $ 70 threshold was crossed on the rise Monday and picked up the rebound Wednesday. That day, Brent took $ 2.15 (3.09%) to 71.70 dollars, ending a run of nine consecutive sessions of declines.

"The market has received a good dose of optimism," said Phil Flynn of PFG Best Research. "It was time, prices had fallen by 87-65 dollars." For Ellis Eckland, an independent analyst, "it is a rebound in the wake of the stock markets. People are more optimistic about the fact that the euro will not collapse and less frightened about the economy. " Another factor supporting prices: the six-month extension of the moratorium on offshore oil drilling decided by Barack Obama."The United States derive a third of their crude production offshore drilling if we do drill more, this production may simply disappear", said Ellis Eckland.

But the week was also marked by a one-time relapse occurred below 70 dollars Tuesday. Investors, troubled by geopolitical tensions between the two Koreas, suffered a renewed concerns about the pace of global recovery.

If the courts now seem to settle in the range of 70-75 dollars, the volatility is always present. Especially as the U.S. Agency for Energy Information (EIA) announced that crude oil reserves rose 2.4 million barrels to 365.1 million, exceeding their year's level last at the same time.Economists on average had expected an increase of 200,000 barrels only.

Tuesday, Kuwaiti Oil Minister Sheikh Ahmad Abdullah al-Sabah, said he was "not yet" worried by the decline in crude prices. If no emergency meeting of OPEC is scheduled, the oraganisation plans to "call for more respect of production quotas.

Note that oil prices have tumbled more than 20% since the beginning of the month.

Base metals: purchases restart

Prices on the London Metal Exchange (LME) have started to increase last week on the basis of a wave of buying on the cheap. The increase was frankly started Thursday, following the easing of world stock markets after China denied its intention to reduce the share of its assets in euros.The euro strengthened against the dollar, making them more attractive purchases of raw materials with the U.S. currency.

Copper prices have soared to 7,043 dollars per tonne on Friday, a level last seen two weeks. The aluminum prices reached 2,086 dollars per tonne on Friday, their highest in two weeks. Lead, nickel and zinc gained respectively 0.6%, 1.8% and 3.4% payday loans.

However, caution remains the watchword. The price volatility is high as evidenced by the slowing of the rebound Friday after the publication of consumer spending by American households down in April after six consecutive months of increases. Overproduction of copper in Chile and increased reserves of aluminum could also disrupt markets.

Precious metals: the gold recovery

Fell from its pedestal last week, gold has recovered to historical levels last week in favor of a new wave of market stress in midweek. Alarmed by the risks in the euro area, investors have once again flocked to the safe haven, pushing prices up to U.S. $ 1218.47 on Thursday, not far from the record of U.S. $ 1249.40 May 14 On the London Bullion Market, an ounce of gold finished at 1207.50 dollars at auction Friday night, cons 1179.75 dollars the previous Friday.

And the prospects of rising oil prices are good for the yellow metal. According to the World Gold Council (BMC), consumption should be taken this year by the expansion of the jewelry in China and India.

The ounce of silver has followed the movement of gold, finishing at 18.53 dollars Friday, against 17.72 dollars last Friday.The platinum group metals have also returned to form more than the football World Cup in South Africa could lead to tensions on the country's electricity supply. A situation that could force the mining groups to reduce their production. The ounce of platinum finished at 1555 dollars per ounce of palladium finished at 471 dollars against 419 dollars a week earlier.

Corn and soybeans climbed in Chicago

The corn and soybean prices rose Thursday on the Chicago futures market, driven by the exchanges and oil. More broadly, the decline of the dollar against the euro makes U.S. production more attractive for export.A bushel of corn ends at $ 3.60 (1.12%) and soybeans to close an $ 9.38 per bushel (0.48%).

Cocoa prices have in turn touched a new high in London this week, boosted by the prospect of tight supplies and growing global demand. Thursday, cocoa for July delivery climbed to 2,451 pounds in London, prices not seen for 32 years, while the same term contract in New York reached 3018 dollars.

Sugar, for its part failed to continue its rebound from the previous week. On Liffe in London, a tonne of white sugar for August delivery was worth 475.80 pounds on Friday. On the NYBOT U.S. a pound of raw sugar for July delivery was worth 14.83 cents.

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"It was excessive, it drop back, it will calm down," said Tuesday the Minister of Economy Christine Lagarde. Interviewed on France Culture, she has qualified the market reaction to the announcement of the European aid plan of 750 billion euros in the night from Sunday to Monday.

"The markets have been an excessive response, as sometimes yesterday (Monday, editor's note) with climbs as evidence had not seen for twenty years, and as it had never been seen in some countries," she analyzed. The CAC 40 gained more than 9% Monday and Wall Street recorded its biggest increase since the beginning of the year.

In fact, stock markets began the day falling on Tuesday. The CAC 40 index opened down 1.78% at 3655.2 points.Investors take profits after Monday's rebound.

About the decision of the European Central Bank to redeem debt securities of states, Christine Lagarde stressed the importance of the current crisis. "This is not orthodox in the functioning of the European Central Bank. But in exceptional circumstances, exceptional driving, "she said. "I'm not sure the ECB does so regularly."

Some commentators were surprised by the decision of the European Central Bank, putting into question its independence. The ECB had so far always refused to take such measures of buying assets.

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Lloyd Blankfein, Goldman Sachs boss, and six of its past or present employees may spend unpleasant moments earlier at the Capitol. They are summoned to explain, under oath, the practices of the largest bank on Wall Street before the Permanent Subcommittee on Investigations of the Senate.

Its chairman, Sen. Carl Levin, wants, before the cameras, pushing Goldman Sachs into a corner. He is convinced that, like other banks, it has contributed to the financial crisis through 2008 by selling to investors who may be unaware of the financial derivatives of mortgages she knew highly risky, while also trying to enjoy the likely devaluation of its securities.

These hearings are the culmination of ten months of investigation. Goldman Sachs comes very prepared with the best lawyers instead.Including some who once worked for the commission itself.

The event comes at a doubly crucial. Carl Levin and his team of experienced lawyers did not know that Goldman Sachs would otherwise be charged in civil fraud and conflict of interest by the Securities & Exchange Commission (SEC) last April 16. Now that the U.S. financial markets authority claimed that the institution of New York covers exactly the concerns of the Committee. So, Fabrice Tourre, French employee who is 31 years at Goldman Sachs, namely accused by the SEC, is also among those summoned to explain Tuesday.He was accused of having concealed the bank's customers that it was developing derivatives were designed to lose value and enrich those who sell futures.

Ground

Another "coincidence" at the same time engaging the decisive battle in the Senate to reform the U.S. banking system. The Democrats, pushed by President Obama, trying to rally some Republicans in a text that would strengthen the control of risks taken by banks like Goldman Sachs. The procedure initiated by the SEC and the Committee hearings Levin maintain a political climate conducive to the adoption of legislation that is deemed a priority by the White House to prevent future financial crises.

Goldman Sachs denies having violated the law and denies having benefited unduly from the collapse of securities backed by junk mortgages it sold elsewhere.In 2008, the bank appears to have suffered net losses in this niche. But in 2007, it seems to have benefited greatly in its own account transactions, the collapse of a market it also fed. Internal e-mails from Goldman Sachs, seized by the committee and already published show that Tourre Fabrice and his superiors had understood in 2007 that the U.S. housing market to plummet and the market for derivative products that were "completely death.

Meanwhile, others in Goldman Sachs were pleased with the millions that brought down their speculation on these products. The Committee has already shown Levin in 2008. Its hearings have forced UBS to disrupt its activities and stop the recruitment of U.S. customers wishing to evade taxes.

Today the aim is not to demonstrate that Goldman Sachs had violated the law.It is mainly to prove that American laws should be changed to prevent the banks get richer without the knowledge of their customers.

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A "golden boy" among many other French

Alongside the auto show in Beijing that is currently the vice-president of Chinese automaker Changan Automotive has confirmed that an agreement could be reached in a month or two, the establishment in Shenzhen – in the princince Guandgong – a joint venture with Peugeot, owned equally by both partners.

Discussions are therefore underway. But Friday morning, PSA declined to comment and said "do not confirm that information," the French group was described as "rumor" he yaa ten days, while the Chinese press spoke of the reconciliation, confirmed by sources close to the matter.

Geographical complementarity with Dongfeng

Peugeot performs this morning that his priority is "the development of (its) existing partnership with Dongfeng.This joint venture is that we must advance and on which we focus our attention, "said an official communication of PSA.

But, Dongfeng does not cover all of China. This company is based in Beijing and in the center, but not on the east coast, including Shanghai, a rapidly growing region, where Changan is found. A geographical compl?menrit? was highlighted by an internal source at PSA few days ago.

The French manufacturer had initiated discussions in 2007 with China's Hafei, but they had failed.Since then, Hafei has been swallowed by Changan.

Changan, the third Chinese automaker

In 2009, sales of PSA's biggest car market on the planet since January – with 2.6 million vehicles sold in the first quarter – rose 52% to 272,000 cars, compared to 2008, while in first quarter 2010, they jumped 70% over a year. For the full year, the manufacturer is 350,000 copies, thanks to the Citroen C5 and its new Peugeot 408, which will be launched soon.

The PSA remains a tiny player in the Chinese automotive landscape with 3.4% market share. But if the negotiations succeed, Peugeot would be associated with the third Chinese automaker. After acquiring several subsidiaries of the group Avic public in late 2009, Changan was strongly reinforced in his country.The joint venture is interested in the commercial vehicles.

Peugeot will start production in Russia

Straight to the emerging countries. Peugeot maintains its strategy to expand in the economically dynamic and promising prospects.

Russia is a perfect example. The carmaker is launching today the production plant built with Russian co-Mitsubishi.

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The debate rages on German economic policy based on wage restraint and exports. His partners in the euro area accuse him gone it alone and have dug their trade deficits. But it turns out that all countries have benefited in their own way of the euro.

"The member countries have not taken care of the single currency, everyone has benefited the euro without worrying so much impact on its partners and the euro itself, analysis Laurence Boone, chief economist at Barclays Capital faxless cash advances. The reforms sought by Germany, European Monetary Fund, tightened sanctions against the country are a first-lax response to past excesses.

EDF may blow. The electrician was able to placate the European Commission on Wednesday announced the closing of an investigation for abuse of dominant position against the French group. The latter escapes a fine of up to 10% of its annual turnover (66.3 billion euros in 2009) by agreeing to open up the French market for electricity.

So far, Brussels accused of using the EDF length and conditions of its contracts to prevent its large industrial customers in France to turn to other suppliers of electricity. According to the European Commission, these customers would be about one thousand in France. These are companies consuming more than 7 GWh per year.

To complete the survey, EDF has made proposals in early November to unlock its long-term contracts with large industrial customers.The group pledged to open up each year 65% average volume of electricity it provides, limiting its contracts to five years and to offer its customers who want a non-exclusive contract, allowing them to provide in part from another supplier. These measures are valid for ten years, unless the market share of EDF falls below 40% for two consecutive years.

In the process, EDF has also agreed, again for a period of ten years, removing restrictions to date resale by its customers for electricity that they provide guaranteed payday loans !!!?? ?!!!???!!!.

Problems solved

After consulting with other market players, Brussels said that these proposals "would resolve the competition concerns identified.This "represents an important step towards the effective liberalization of markets of the French electricity major benefit of consumers and, by extension, the whole economy," according to the Competition Commissioner Joaquin Almunia.

Guarantees have been provided for that EDF can not circumvent its commitments. It will include submitting annual reports to Brussels and the French regulator's energy sector, the CRE. One false step, the giant electricity is exposed again to the fine.

EDF is not the first group to make concessions to avoid the record fines from Brussels.The U.S. computer giant Microsoft has already shown the way late December 2009, agreeing to provide European users with a choice of internet browser to its Windows operating system, which was previously exclusively bundled with the browser: Internet Explorer.

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Wall Street is expected in the red pre-meeting Tuesday. Shortly before the opening of the NYSE, the index futures in the Dow Jones, Nasdaq 100 and S & P 500 declined by 0.21% at 10,517 points, from 0.05% to 1883 points and 0.03% to 1133 points.

The U.S. carriers would indeed choose to pocket a share of the gains made last week by caution before a salvo of indicators in the coming days. Especially since the main stock index hit a "low point" there is exactly one year, March 9, 2009. Since the S & P 500 has started the largest rally in history. In one year, the U.S. index has increased by almost 70%!

The next U.S. statistics are expected tomorrow with the traditional weekly report on unemployment. Weekly Market in the United States, will then be placed under the sign consumer.The two major economic indicators this week, published Friday, will be the sales details for the month of February and the preliminary estimate of consumer confidence faxless payday advance .

On the side of values, the U.S. manufacturer of electronic components, Texas Instruments has revised upward its earnings forecast for the first quarter. In a statement released after the close of the NYSE, the group said it now expects sales of between 3.07 and 3.19 billion dollars instead of 2.95 to 3 19 billion expected previously.

Also in the technology sector, Cisco Systems will announce today a new offer to speed internet connections.Analysts said the group could announce as Google, investments in new broadband network.

After the withdrawal of EADS and its U.S. partner Northrop's tanker contract to the Pentagon, whose first installment is only valued at 35 billion dollars, Boeing alone competing.

The fast food chain McDonald's should also facilitate the session after announcing yesterday a 4.8% increase in sales worldwide in February.

AIG makes another important assignment. Delayed several weeks due to fiscal problems, the giant American Insurance American International Group and MetLife onday announces an agreement under which AIG will sell its branch at MetLife Life Insurance Alico for the equivalent of 15.5 billion, the Wall Street Journal.

The acquisition will be for $ 6.8 billion in cash and approximately 8.7 billion shares in MetLife.

Alico, and the Asian subsidiary of Life Insurance American International Assurance (AIA), had enjoyed a special status, allowing AIG to make these two assets as compensation and thus reduce the debt of the insurer to the Reserve U.S. Federal (Fed), although both companies are still controlled by AIG. This also allowed AIG to prepare these two subsidiaries for sale or an IPO.

At the edge of the termination payment in mid-September 2008, AIG was bailed out by the U.S. government who had to inject over 180 billion dollars in its coffers to keep the group afloat, the government now owns 80%.

AIG will make 32 billion dollars by the Fed

MetLife believes that the acquisition would boost earnings by 45 cents to 55 cents per share by 2011.Analysts expect 2011 operating earnings per share of 4.89 dollars.

With the sale of Alico, and after the agreement last week to sell its Asian branch of life insurance, American International Assurance, for 35.5 billion dollars to the group Prudential, AIG could make the Fed's New York 32 billion in cash in the coming months, if both operations are looped as expected by the end of 2010, says the WSJ.

AIG should also repay 19 billion dollars more in coming years, when he sold his shares in MetLife and Prudential.

Pay at the supermarket with a map Ticket Alimenta?ao. It is possible to Brazil, the world laboratory industry services giant Accor for emerging countries. There, 95% of group tickets are paperless. If this case is still unique in the world, shopping, using products from Accor Services is already a habit for many citizens of Latin America. In Mexico, for example, families are disadvantaged, since 1983, to procure food in shops affiliated with Ticket Power.

Last year, the branch of Accor Services has achieved 943 million euros in sales in 40 countries, with 490 000 corporate customers, two thirds have fewer than 250 employees."Our top ten customers representing less than 5% of turnover," said Jacques Stern, Chief Operating Officer of Accor and future owner of the company focuses on services that will arise from the splitting of the hotel group in July. Today, 33 million users are using its services. Its two products will remain the tickets Restaurant and Food present in 24 countries (Mexico, Brazil, Chile …). They represented about 80% of the turnover of the industry in 2009, a figure broadly stable, despite rising unemployment.

Agreements with governments

In France, Ticket Restaurant claims leading position with over 35% market share before lunch check, Sodexo (Check Restaurant) and Natixis Headings (check table). For Accor Services is a profitable market, strong cash generation.The company receives because of commissions from businesses and merchants that accept Ticket Restaurant. That most of his earnings. As it takes between six and seven weeks between payment of securities by customers and their reimbursement by providers (restaurants, supermarkets …), Accor also generates substantial financial products guaranteed cash advance . Finally, each year, 0.4% of sales from prepaid sold but unused.

"In our business growth comes from the volume, explains Jacques Stern. Therefore one of our strategic objectives is to strengthen ourselves internationally, which requires new partnerships with local governments. "Last year, the branch Accor Services has signed such an agreement with the government Mali, which sought to encourage agriculture.It has launched a new ticket Agri, that farmers can spend in stores. Emerging markets already account for 40% of turnover (22% for France). Jacques Stern wants to continue to conquer the world. "Today, for example, we offer our food tickets in ten countries, there is a huge room for development, especially in emerging countries," says he. His priority in putting leading global Accor Services (40% market share before Sodexo), the controls of a listed company, totally independent of the Accor hotel. The change is immediately visible in a society becoming full-fledged branch Accor Services will change its name. "In people's minds, is associated with Accor hotels, not prepaid. We need to create our own brand, "explains Jacques Stern.Several specialist firms are working on the name of the new company, known until "New Services".

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Economic conditions continued to improve in the United States in January-February, "although harsh snowstorms in early February have dampened activity in several regions," according to the Beige Book released Wednesday by the U.S. central bank (Fed).

The document states that the activity has increased in nine of the twelve regions (by cutting the Fed), but that "in most cases, these improvements were small.

The information provided by the Beige Book are very important because they serve as a reference to the meeting of the Monetary Policy Committee of the Fed scheduled for March 16, which will decide on changes in interest rates.

Regarding the labor market, for which the Fed chairman, Ben Bernanke, gave recently bleak outlook before Congress, the document notes that "the pace of layoffs has slowed in most regions, but that hiring plans of companies remain "soft in general."

As for expenditure on household consumption, traditional engine of growth of the country which is struggling to regain its role, they "grew slightly in many areas, but have been hampered in some by the snowfalls of early No teletrek payday advance