This renewed confidence followed the publication of a higher-than-expected ISM index of manufacturing activity. It stood at 56.3 in August against 53 expected and 55.5 in July. This good news comes in addition to that from China. China's manufacturing sector posted a modest rebound in August, after a slowdown in several months. The two purchasing managers' index (PMI) monitored by the markets, the bank HSBC and the Chinese federation, are rising. The index of the China Federation of Purchasing and Logistics rose from 51.2 in July to 51.7 in August. The index of the HSBC bank stood at 51.9 in August from 49.4 in July.

However, bad news side of employment fell before the opening. The private sector in the United States against all odds has destroyed 10,000 jobs in August, according to the monthly survey firm specializing EPA. Economists and analysts predicted instead of new posts with 19,000 new jobs expected on average for the month of August. The July figure was also revised downwards and now shows 37,000 new jobs, 42,000 cons first announced.

These figures give a first overview of the situation on the labor market before the official figures on Friday.Concerned about the fragility of U.S. recovery, the White House announced Tuesday it was preparing a new economic stimulus package it will announce in the next few weeks.

Moreover, construction spending fell more than expected in the U.S. in July, 1% from the previous month, falling to their lowest level since July 2000, according to figures released Wednesday in Washington by the Department of Commerce payday advance low fees.

Apple waited for his iPod

On the side of values, the U.S. computer giant Apple (1.50% to 246.79 dollars) would reveal an updated version of its iPod portable.Apple has emailed his invitations for a special event that day, Wednesday, September 1, revealing virtually nothing other than the date and place, the Yerba Buena Center in downtown San Francisco.

The online store Amazon U.S. (1.71% to 126.96 dollars) trying to launch a service that would give customers who pay a subscription service unlimited access to television and movies via the Internet, says The Wall Street Journal on its website.

Also according to the Wall Street Journal, the group of Burger King Holdings (11.64% to 18.37 dollars) plans to sell and has been in discussions with the aim of possible buyers. Burger King, whose market capitalization is $ 2.3 billion (1.8 billion euros), is the stock exchange since May 2006.The group was previously held by groups TPG, Bain Capital and Goldman Sachs had bought British drinks group Diageo in 2002 to 1.5 billion dollars. The newspaper, Britain's 3i is among the candidates concerned.

Always on the side of values, the British oil giant BP (2.50% to 35.70 dollars), listed on Wall Street, announced this morning that it would sell its interests in petrochemical operations in Malaysia to local group Petronas, for 363 million dollars.

Several companies are announcing results including the HJ Heinz food group (-0.85%) and Brown-Forman (-6.66%), the maker of Jack Daniel's whiskey.

Also note, the U.S. Federal Reserve (Fed) approved Tuesday the purchase by the Chinese sovereign fund China Investment Corporation (CIC) of 10% of the voting rights of the investment bank Morgan Stanley (0.74% to 24.85 dollars).

The gross operating income reached 1.042 Moreover billion, an increase of 9.6% as reported and 7.2% excluding currency effects. Net income group share stood at € 386m, up 121%, € 0.79 per share.

The group has raised its targets for the whole year: it expects a turnover higher than that of 2009 (which was $ 12.296 billion euros) of at least 7% at constant exchange rates, cons at least 5% expected in February.It also relies on a gross operating income up 9% minimum at constant exchange rates compared to 2009, against 8% minimum expected end of February.

Free cash flow increased during the semester 30% (excluding non-recurring items in 2009) to 457 million euros. The group hopes to reach over 700 million euros for the whole year. Operating cash flow amounted to 905 million euros, up 9.5%. "The cost optimization program, Compass 2 continues," said CEO Jean-Louis Chaussade in a statement.The group has increased its cash generation and maintains its goal of financial strength.

The CEO of Suez Environment also emphasizes that this semester is marked "by strengthening our strategic positions, including the acquisition of eight companies in the water in France and the finalization of the friendly takeover which Agbar allows Suez Environment to consolidate its bases in Spain and abroad. "

The turnover of the International segment is also in "strong increase" to a constant exchange of +21.9% (+19.9% organic growth) to a € 707m.

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In exchange, the news is very appreciated. The group titles are at the forefront of the SBF 120 since the opening of markets with an increase to the closing of 15.42% to 7.35 euros.

Forecast confirmed

Markets are also satisfied with the maintenance of annual targets credit report."The turnover of the second quarter of 2010-11 would be about 83 million euros, in line with the second quarter of 2009-10. The group confirms its previous comments regarding the 2010-11 biennium is the return to profitable growth and cash flow positive from operations, "said Ubisoft in a statement.

Side launch, the group put on another commercial success to come: the game "Driver". Previously scheduled for the third fiscal quarter, it should now come out in the fourth quarter.

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Gilles Pelisson "very happy"

The announcement pleased the markets because at the Paris Bourse, the Accor share gains 2.40% to 42.29 euros in a market down by 2.75%. She also meets Gilles Pelisson, CEO of the group: "I am very happy," he said after the vote.It simply means that the split is an idea that has much meaning.

During the meeting, issues of Accor shareholders have not dealt with the proposed demerger, except on technical tax issues.

One of the two entities retain the name of hotel and Accor, and the other called Edenred, takes over the prepaid (Ticket Restaurant, Ticket-food, gift certificates, Kadéos, Cesu …). On July 2, the two entities will be listed on the Paris Bourse. Consequence: during a trading session, the CAC 40 will be 41 values, do so before qu'Edenred index on July 5.This separation was made possible by the extensive development of the service arm that has doubled in size in four years and can become autonomous, "said Gilles Pelisson, Accor's CEO.

Technically, the division will lead the purge of the old order book Accor shares at the end of the meeting on 1 July instant payday loan. Shareholders who wish to sell their securities or those who wish to buy must act before July 2.On Friday, the shareholders of the "old" Accor will receive one share of "new Accor" Edenred plus one share for one share of the "old" Accor held.

For the CGT, the group only wants to make money on the stock market "

If this decision was thus obtained a plebiscite among directors and shareholders in Accor, this is not the case with employee unions, who see the split as a "dismantling of the group." They fear that the sale of hotels – Accor is to sell 450 hotels in the coming years – should lose benefits to employees.

In an open letter to shareholders of the Accor group, wrote that the CGT split "plunge the company and its employees in difficulty.""This is not for the good of the company that the group is divided by two, but only to make money on the stock market," says Angel Romiti, Secretary General of the Federation of the SGC services. Accor aims to open 40,000 rooms per year in France.

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The division of Accor effective early July

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The founders of Accor defend its division (December 2009)

For the ISP, the division of Accor is too risky (December 2009)

Madrid triggers debate

The day before, the Spanish central bank had announced the forthcoming publication of the results of these tests. El Pais had found the ad "unprecedented in the euro area. The Madrid Institute hopes to dispel the doubts now hanging on the strength of its banking sector. The Spanish governor of the Bank believes that the current rumors greatly amplify the difficulties of the Spanish financial industry. He hopes that the markets "are fully aware of the situation in the Spanish banking system."

Banks reluctant

Further to the announcement in Madrid, the German government long reluctant, finally decided to give him the green light too low fee payday loans. But Berlin has yet to convince its banks.German institutions showed far opposed the publication of these results.

Successful tests of Moody's

The European Central Bank will also favors the publication of these tests. In the eyes of the central bank, the operation of transparency is able to reassure the markets. And regulators have reason to be optimistic. Indeed, European banks have recently passed the tests of strength by Moody's. The rating agency has increased the stress tests to thirty European banks from ten countries, and concluded that they have a level of capital sufficient to take further losses.

On the menu of discussions in Brussels

The issue of stress tests for banks will be raised at the EU summit held this Thursday.The Twenty-seven were found initially to discuss "strengthening of fiscal discipline." But the agenda should also focus on Spain, which raises concerns. Some even wondered if Madrid does not seek help from its European partners. A line of credit from 200 to 250 billion euros was raised.

New registrations rose 1.9% in April on a year in France, reaching 190,986 units, said Monday the Committee of French car manufacturers (CCFA). In March, they still leapt 17.9%, still boosted by the registrations of cars ordered in late 2009 to take advantage of the premium to 1,000 euros. This was reduced to 700 euros since 1 January, and will fall to 500 euros in the second half.

"We see here the impact of gradually reducing the premium breaks, there is some decline in the small car category, those who have benefited most from the device, and you know you will go into negative at the end of the year, "said a spokesman for the CCFA.

"Despite this, the ski manufacturers we also show that the level of orders for new models and for mid-size cars are holding up well, meaning that the market continues to resist despite the decline in aid."

Citroen sales down 8.3%

The major manufacturers all expect a decline in European car market this year, the second half of 2010 announcing the end more difficult with a comparison of premiums and increasingly unfavorable relative to the boom in late 2009. Renault has amounted to 10% expected decline while its major competitor PSA Peugeot Citro?n expects down 9% quick payday loan.

Last month had 21 days, provided that April 2009.Of the first four months of 2010, registrations in France reflected an increase of 12.9% to 785,706 units.

Sales of passenger cars Peugeotont group rose 7.3%, but those of the Citro?n stand down 8.6% on month, while Peugeot's registrations increased by 24.2%.

As for the Renault group, registrations were up 17.2% – an increase of 9% for the brand new diamond and jumped over 100% for Dacia (Logan, Sandero and Duster).

Improvements on commercial vehicles

French brands have still got their game well, with an increase of 8% against a decline of 4.9% for foreign brands. Among foreign automakers, Nissan (49.2%), General Motors Europe (+43.5%) and the BMW Group (+24.1%) recorded the most notable increases.The Volkswagen group (-20%), Fiat (-13.3%) and Ford (-12.8%) are in decline.

The improvement in the commercial market, particularly affected by the slowdown in economic exchanges, is also confirmed. The registrations of light commercial vehicles rose 32.2% last month, marking an acceleration from the 16.5% increase observed in March (+11.4% when adjusted for working days). In commercial vehicles over 5.1 tonnes, in turn, is down 9.4%, against 28.4% in March.

"The situation is confused, everything changes constantly," says an observer of the market in Frankfurt. "We came out of the Eurogroup, on Monday, with the idea of a specific action plan for Greece in case of need, but since patterns are changing." The markets reacted Friday to the renewed uncertainty .The yield on the 10-year Greek climbed nine basis points in early morning, reaching 6.44%, the highest since February 26, reports Bloomberg.

If Berlin exchange of views, the European Central Bank and Paris rejected an IMF intervention. "Bringing an external actor in the system is to acknowledge that lack a brick to the edifice of the euro area, as has long denounced the Anglo-Saxons," says Gilles Moec, economist at Deutsche Bank. For Jean-Claude Trichet, President of the European Central Bank, admitted this weakness is beyond question. This institution would be missing other than the European Monetary Fund recently proposed by Berlin.

The eye of Washington

Moreover, "the France and the European Central Bank fear of losing some control of European monetary policy by allowing the intervention of an international player," Peter Westerheide analysis, an economist at ZEW (Center for European Economic Research) guaranteed approval cash loans . The largest contributor to the IMF is the United States, leave the international organization for Greece is to give Washington the right to inspect the functioning of the euro area.

This argument is however a double edged sword. "Leave the IMF to pay back the United States to repair the crisis they themselves have caused," said Peter Westerheide. "Overall, the IMF is fed by many countries, the coup European countries pay relatively less in each case of assistance to Greece.This last point was what to seduce Angela Merkel, embarrassed by public opinion strongly opposed to any aid to the Greeks.

The IMF also has expertise in this kind of crisis. And for good reason: to help the country to the brink of bankruptcy, it is his job. The argument is advanced on the European scene, the Italian Finance Minister Giulio Tremonti: "Do not see the IMF as an external organization that meddles with what does not concern him, but rather as a bank offering … its capital and experience. "

These arguments, which seem to convince Berlin, partly defuse the blackmail of the Greek Prime Minister George Papandreou, if European aid too slow, it threatens to turn to the IMF. "Anyway, Greece can hardly resort to the IMF without the backing of other European capitals," said Peter Westerheide."His partners have enough pressure, especially through the many aid it receives from Brussels."

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Bank charges: avoid abuse

The minister hopes to shed light on three issues in particular: the "cascade" of bank charges, billing services hitherto free, and finally, the establishment of systems of fixed costs "which include some services that consumers do not, "said Christine Lagarde.In an interview with the newspaper Les Echos on Wednesday, she said that instead "regulate all hair, she wants to ensure there is no abuse."I expect the report to the end of June," says she.

On 24 March, three days after the second round of regional elections, Christine Lagarde presented to the National Assembly a new position on the draft law on consumer credit: remove penalties release (charge made if a person makes one or more checks, Ed), "which are a real obstacle for small businesses.

Germany: Christine Lagarde persists and signs

The Minister is also back at RTL on her remarks Monday on the German economic model, stigmatizing the pressure on labor costs to focus its exports personal loans for people with bad credit . "My remarks have been interpreted negatively. While Germany has performed well for ten years.But in such times of crisis, the deficit country must do everything to reduce it, and those of surplus should not be assumed that they are the only engines of growth, "she says.

Less than a week after the lunch meeting between Gordon Brown and Nicolas Sarkozy in London, Christine Lagarde expressed disappointment at the postponement of the adoption of the Directive on hedge funds, and remains "determined that the text completion by late June.

The subject, which should be discussed Tuesday by the Finance Ministers of the Twenty-Seven, was withdrawn from the brink of the agenda by the Spanish Presidency, who chose not to vote on a text in this highly unpleasant state in the United Kingdom.Christine Lagarde will therefore not stop there, and push to revive the issue with determination, even displease its European counterparts.

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"The online banks do not attract the French" La France has no lesson to give Germany "

Bernard Thibault, who had gathered yesterday on behalf of 88.4% of the votes for the election of the Executive Committee, then cropped activists who have criticized his lack of involvement on the ground and its rapprochement with the CFDT. Particularly highlighting the vote by 77.5% of the delegates of the progress report of the past three years."It's a very honorable to score a direction supposedly cut off from its base," he joked, saying in passing that Nicolas Sarkozy would like to receive the same level of approval of French policy that led to the Elysee.

And the secretary general of the CGT then push the nail against those who disrupted the debate sometimes during the week and gave a divided image of the plant. "It can not be the CGT opposition and majority, he hammered the applause of the audience. There is no line of management, because management implements the guidelines validated by the Congress. "And this is not the great majority of the 1 000 delegates of the 49th Congress which contradict the resolutions of the document guidance for the next three years that received between 73 and 86% of the votes.The CGT knows where it goes, he still drummed, while specifying that the central union will not "attractive if it gives the image that his first battle is internal.

"The Internationale" raised fist

Wishing a CGT "closer, more united and effective," Bernard Thibault has drawn the roadmap for the coming months. "Our priority is the transformation of society," he said. Its power plant will therefore go on retreats launched by Nicolas Sarkozy. "The future of pensions will be the marker for the determination of employee resistance", he warned the head of state. The CGT also ensure that employers does not set wages and employment."The increase in salaries is the key to ending the crisis," he said.

The leader of the CGT has finally made an appointment to his "comrades" for two mobilizations to come: a euromanifestation March 24 to get a boost in employment at European level and a national campaign to defend public services in stride. And said, for those who doubt that the CGT would not wait the end of March "for organiserd'autres appointments and inter-national".

The message is clear: the CGT has not changed, it is always with those who struggle.And the Internationale, sung to finish his fist raised by the Secretary General and the thousands of delegates – admittedly preceded La Marseillaise but sung with more gusto – aimed to demonstrate.

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