The distrust of government bonds in Spain and Italy still has soared. Spanish borrowing rate to 10 years have in fact exceeded the critical threshold of 6% yesterday, which had not been seen since early August. Italy has in turn launched a tender coldly received.

The monetary institution observes that the business climate has deteriorated slightly in October in the industry (-1 point 96) and in services (1 point 95). In industry, the factories do not increase the use of production capacity. In addition, the order books are somewhat empty. In services, "the outlook is geared towards a stable activity in the short term," analyzes the Bank of France us fast cash.

The monthly survey of the Bank of France confirmed the slowdown in growth by some economists. In view of the evidence advanced PMI, France would be even already in recession, say the economists at JPMorgan. Another U.S. institution, BofA Merrill Lynch, believes that France is expected to decline 0.3% of its activity in the fourth quarter compared to the previous one, and not resume growth until late 2012.

So, if the average of analysts' forecasts remains at 0.9% growth for the euro area in 2012, large banks have seen their shelves these days. On the downside. Exane BNP Paribas has drastically revised its analysis and expects zero growth next year to France, while in September it still expects growth of 1%.

DSK The case began on Twitter, May 14, fed news headlines, news sites, televisions and radios throughout the summer and peaked at 20 hours of TF1 in the DSK interview by Claire Chazal, September 18. More than 12 million viewers were then followed this high mass. On this new chronology of the information examined Observatory Orange Terrafemina, which reveals the results of his study Tuesday morning.

Based on quantitative data from the CSA institute and a panel composed of eight women TreizearticlesWebLab, the Observatory has dissected the new report passionate and uninhibited qu'entretiennent now the French with the information.

Drain excess

"If there is downward, this concerns the very large apartments of 100 m2 which the price had been overestimated in the euphoria of late 2010 and early 2011," said Gilles Ricour of Bourges, president of the FNAIM Paris. "The capital market is a very individual who has self-sustained higher prices. Many potential purchasers already own their homes had postponed their plans because of the crisis in 2009. In 2010, when prices started to increase, they came with very important contributions. In addition they have changed their behavior. Rather than sell their home before buying another, they started buying in a market that climbed before to bear part of the price of their new acquisition to the purchaser, pushing prices up, "says Laurent Vimont, Chair of the Century 21 network cash advance loan no fax."Today, we purge the excesses," he adds. A correction that he says will not exceed a slight decline in the order of 1%.

The threat of taxation

"The summer months are not representative of normal activity in the sector. It was not until September which is traditionally an important month for the volume of transactions, "said he. "Always be careful. Paris concentrates all the ills of the market immobilieravec a very high demand and low supply, "said Bernard Cadeau. A shortage that could he said to go to … amplifying with assistance from the government. "There is very little construction in the capital, and with the new tax measures, are discouraged sellers put their property on the market," said he. "Since August 25, and the announcement of the taxation of capital gains to 32.5%, many sellers have withdrawn their products," alarmed Gilles Ricour Bourges."It would be unfortunate if these new measures will undermine the stabilization of prices," he concluded, as a warning to members who are currently planing tax loopholes.

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On the occasion of the publication, the Chief Executive Jean-Bernard Levy said he "confirms the outlook annual adjusted net income in excess of 3 billion euros" against 2.69 billion euros in 2010, which will increase the dividend per share. The businessman says he is confident because of "operational indicators on the rise, despite a financial and economic disruption."

In the first six months of the year, the group has doubled its net profit after minority interests of 2.6 billion euros with a net gain of $ 1.2 billion related to the settlement of a dispute in Poland.Adjusted net income shows him up by 20.2% to 1.83 billion euros. As for the EBITA (operating income, net of amortization of goodwill), it stood at 3.36 billion euros, up 4.6% at constant exchange rates free online credit report. Group sales reached 14.25 billion, up 2.4%. The market on average expected a turnover of 14.24 billion euros, an EBIT of 3.31 billion and adjusted net income of 1.73 billion, according to estimates by seven analysts quoted by Reuters.

For businesses, the group's results were supported by the performance of Activision Blizzard and GVT. The developer and publisher of French-American game has achieved an operating profit of 833 million, up 34.4%.Over the past twelve months, the portfolio means of Canal + France recorded a net growth of 96,000 subscriptions.

Asked about the proposed IPO of 20% of Canal + agreed by the other shareholder of the group, Lagardère, and rejected the first time in March due to the nervousness of the markets after the earthquake in Japan, the CEO of Vivendi, Jean-Bernard Levy, kicked into touch. "As we all know the ball is in their court," he said. "We expect the recovery Lagardère decides whether or not what is now the right according to our agreements.

Even if the secret is king in the realm of salvors, one thing is certain: the hunt for sunken treasure under the sea can pay big dividends. Odyssey Marine Exploration, one of the few companies to communicate about its activities, has won the moon in September 2003 with the discovery of the Republic, an American steamer full of gold coins that sank off the coast of Georgia in 1865.After twelve years of research, American society has gotten hold of a booty containing nearly $ 400,000 of the coins in time, a current value between 120 and 200 million dollars. The company has retained 90% of the cargo. Odyssey was also able to develop products derived from this expedition. This discovery was also made flame the action of the group in exchange. And the eyes of the officers, "the 20 million spent on research is only one drop of water compared to the potential value remains of the Republic."

And if the gold and precious stones continue to dream the salvors, they are not the only treasure of value. Coins, guns, cups, bottles and even old cargo of raw materials can also be rewarding.Thus the British company Blue Water Recoveries, established in 1995, has collected 23,000 tons of precious metals through its research of wrecks.

Thirty wrecks profitable to recover

But finding a wreck diving at a cost. According to Unesco, nearly 3 million shipwrecks littering the ocean depths, but only a thousand of them contain enough valuables to recoup research.

The investigations carried out to find shipwrecks hundreds of feet deep are indeed very expensive. It requires a technologically advanced equipment and crews experts, for shipments that can last for months or even years. Besides the work prior to the launch of an operation: tracking down archival maps and documents all able to identify and map potential treasures.John Morris, co-founder and CEO of Odyssey Marine Exploration and felt "less than thirty wrecks are financially attractive to recover" all over the world.

In addition, the development of technology makes the research more accessible and attracts treasure hunters. The funds of the world's oceans are scrutinized. Shipments are mainly carried out by Anglo-Saxon societies run by financiers. In this context, John Morris believes that "all the wrecks are likely to have been visited in ten years: our niche is very limited." A race against time is thus committed, sometimes in defiance of the rules.

Regulations wrecks hardens

In late 2007, Odyssey has been unraveled court.American society has gotten hold of the treasure of the "Black Swan", code name given to the mysterious shipwreck discovered off the coast of Gibraltar and which Odyssey has kept the cargo of 17 tons of gold and silver. Problem, Spain claimed ownership of the vessel and the treasure and she wants to recover the loot and the location coordinates of the wreck, kept secret.

In fact, the marketing of the treasures of the sea is governed by laws. The cargo must be declared and identified only the treasures found in international waters can be preserved, provided that vessels not flying the flag recovered Spanish, English, French or American, if not the rights of loot then return to the countries concerned. And Unesco is trying to further tighten the laws to limit the looting.The United Nations estimates that particular decade, almost three wrecks were destroyed and exploited commercially in Asia, and regrets for each looting of 500,000 objects.

In France now, "all the maritime discoveries belong to the state," said the Department of underwater archaeological research and submarine, affiliated to the Ministry of Culture. However, the rewards are awarded to the discoverers of wrecks and treasures.

A researcher from the body of wreckage hunt bin Laden

The hunt Seabed no longer the sole purpose of finding gold and other fabulous booty. Recently, a researcher of wreckage and chose to leave the body in search of bin Laden.Bill Warren, a famous scholar of American wreck, wants to prove to skeptics the death of the leader of the terrorist organization Al Qaeda, and touch in passing a premium of $ 25 million. To do this, the diver of 59 years will probe the northern Arabian Sea to find the body of the former number one enemy of the United States. But according Sciboz Bertrand, also a researcher of wreckage, "a body search in the Arabian Sea while there are 2000 meters deep, this operation is totally impossible."

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Jean-Michel SIX. -If, of course. And we must start by saying that in times of summer holidays, the markets, which were then much lower volumes, overreact to any new economic situation. The lower the index is up or dive in a much more important than what happens in winter.

Right now, they are rather dive …

For several months, both sides of the Atlantic, the signals on growth are not good. United States, including employment prospects are very disappointing. In fact, employment is not really left since the 2008 financial crisis.Labor mobility is limited due to the housing crisis: moving to take a new position, which is much the United States, is difficult because it becomes difficult to sell his house. As for household consumption, it is significantly weakened by the debt levels of Americans. A total of 2011 should result in a 2% growth, which is very disappointing for the U.S., where the pace of activity is generally much higher than in Europe.

Europe, precisely, is it in a perilous situation?

The problem of Europe is the growing divergence between North and South. This is something that worries the markets, which are asking what does that mean in terms of consistency of the euro area.Then, after a strong first quarter, it was believed that the air hole is the second passenger (once the effects of the earthquake in Japan absorbed and oil back to lower levels). But we realize that the sequence is also likely to be poor.

Markets can they regain composure?

It is quite possible to restore calm in September thanks to coordinated action. What happened in July is that we have simultaneously witnessed a loss of U.S. leadership, unable to break the deadlock of debt and a crisis of leadership in Europe in a context crisis on public finances. This is exactly the opposite which would have required!

So how about it?

First, we must continue the work on European Governance. This is critical. Second, the timing of implementation of the second plan is important for Greece.The European Financial Stability Fund will be endowed with significant firepower, which is to say the least-welcome, but there is some impatience markets. It is important not to drag the national parliaments to adopt the device. The political signal must come quickly. Finally, the ECB has played its role, it must continue to appear reassuring.

That's what she tried to Thursday …

The measures announced by President Trichet, in particular the resumption of purchases by the ECB on secondary markets, are extremely positive.

Investors do they always trust in the euro area?

Yes. Investor confidence, especially in emerging countries has not disappeared. She even remained strong, as evidenced by the excellent performance of the euro since the beginning of the crisis.The euro zone faces a crisis of governance, not a crisis of its currency.

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The subsidiary of the Bouygues group has indeed provided a strong rebound in net income increased 60% in first half year on year, to 118.6 million euros.As for further cost reductions, the television group posted a net increase in operating income over one year, 78.6% to 186.5 million euros. The cost of the grid of the TF1 channel has in fact declined by 482.6 million euros to 423.6 million. Good performance hailed by investors since the title was climbing to 11 hours of 6.80% to 13.59 euros, the largest increase in the SBF 120. One of its main competitors, M6, which must also publish its results on Tuesday but after-hours trading, climbing from 0.77% to 15.74 euros. Meanwhile, the Cac 40 was down 0.57%.

This policy of cost reductions initiated since 2008 had been welcomed on Friday by the U.S. rating agency, Standard & Poor's, which had raised a notch note of the group, believing that these savings would result in a better rentatibilité easy payday loans.The TF1 group has recorded a marked improvement in its operating margin, which has doubled in a year to reach 18.8%. "These statistics confirm, quarter after quarter, the effectiveness of measures taken to change positively the economic model of the group" welcomed the television group, which has however avoided giving details of its profitability target medium term.

Advertising revenue, "no particular concern" (Paolini)

In contrast, sales of the TF1 Group, which owns the Eurosport channel, TMC or LCI, fell slightly from 0.5% to about 1.3 billion euros. "Unlike last year, TF1 did not broadcast major sporting events (like World Cup soccer)," the statement said.Before the analysts, Nonce Paolini said he did not have "specific concerns" about the evolution of advertising revenue. The group is pleased to return to growth in advertising revenues in the second quarter (+0.7%) after a decline of 2.6% over the first three months of the year. Of all the activities, the advertising revenue shows an increase of 4.7% to 905.2 million euros. "The group remains more than ever mobilized to consolidate its leading position in the field of information and entertainment on the TV market and / or free," says TF1.

This slight decline in sales, however, makes the television group cautious about the stability of the whole of 2011. It evokes a persistent lack of visibility on the changing conditions.

In Luxembourg, held since Sunday in yet another ballet departmental emergency, the American effort has found a leader: John Lipsky, the IMF acting boss since the resignation of Dominique Strauss-Kahn. Monday, early morning, we have even seen take the pen and help correct what would become the final declaration of the Euro, according to several witnesses. Gender confusion? Among the Europeans at least, there is no doubt about the role vested in this native of Iowa, former chief economist at Salomon Brothers and JPMorgan."Lipsky is the U.S. Treasury and defending U.S. interests in Luxembourg, 'says one diplomat. The CEO can afford. Age 62, he announced his retirement before the arrest of DSK.

Under his leadership temporary, the IMF has taken a much more demanding vis-à-vis the financially troubled countries of the European Union. The turning point came during a visit to three with Angela Merkel and Wolfgang Schäuble, on the sidelines of the G8 summit in Deauville, said a European official. Prior to the rescue of countries such as Greece, Ireland and Portugal, the fund was content with a European political commitment. Since then, he stands still as his balls timelines, detailed austerity plans and supports encrypted.This partly explains the surprise decision of the Eurogroup, on Monday, to condition the release of the fifth tranche of the loan to Greece promised a vote by Parliament in Athens, new austerity measures and to a credible plan for privatization.

"Germany, a key country"

There is no mystery no longer on Washington's annoyance at the failure of the seventeen countries to overcome their susceptibilities to seriously address the problem cheap business cards. "Over the past year, the euro will fall into relapse and we see only bandages to stop the bleeding, said a U.S. official. The problem consumes time and energy of the Europeans. The world turns and do not wait. "It is also the best interests of the United States. A weak euro would threaten the sustained U.S. recovery, not to mention a rise in interest rates.More seriously, a European banking meltdown could spread to the other side of the Atlantic, reflecting the collapse of Lehman Brothers in 2008. For the second time in less than a year, Barack Obama is telling the Chancellor that it needs to hand the wallet in favor of Athens. "Germany is the key country," stressed the president.

Christine Lagarde, a candidate for the succession of DSK, is more eager to place the main shareholder of the IMF. On the night of Sunday to Monday, the French minister took it upon herself to keep closely informed Treasury Secretary Timothy Geithner. It was not a "phone G7" as improperly submitted.But a conversation to explain that two vital partner why 17 had once again decided not to decide on Greece.

Appointment is made Sunday, July 3 for a new conclave of the Eurogroup dedicated to the Greek debt. With the cap of the IMF, but also speaking on behalf of Washington, John Lipsky has not concealed his impatience Monday. He commanded the Europeans to "immediately put an end" to their debate on the restructuring of debt and start a new fund to rescue the euro. And he clearly put in danger the balance, "This is to prevent the crisis spreading from the periphery of Europe to the center and from there to the rest of the world."

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In China, same atmosphere. The Hang Seng in Hong Kong dropped 0.55% to 22,604.76 points. Note that the action of the Swiss giant Glencore commodities showed a decline of 2.8% for its first day of listing on the Stock Exchange of Hong Kong, following its introduction to the London Stock Exchange where he finished in small decline. In Shanghai, the CSI yields more timidly 0.13% to 3022.36 points.India and its main BSE index down 0.50% to 17,921.56 points. And in Singapore, the Straits Times down 0.39% at 3100.90 points.

In Australia, the red is darker: the S & P / ASX retrograde from 0.90% to 4587 points. Its neighbor New Zealand succeeds him to climb into the green, clawing 0.14% to 3564.44 points.

The decline in oil, profit taking

Oil prices were trending lower Wednesday in electronic trading in Asia, due to a decline in energy demand in the U.S. and profit taking, analysts said. In morning trading, a barrel of light sweet crude for July delivery yielded 57 cents to 99.02 dollars. That of Brent North Sea crude for delivery the same abandoned 82 cents to 111.71 dollars."Investors seem to take their profits at the approach of a long weekend in the U.S. market," said Ker Chung Yang, an analyst at Phillip Futures in Singapore, referring to the Memorial Day holiday on Monday the United States.