The commodities market is particularly volatile in this weekend. The request by Dubai World, the principal holding company of the emirate, delaying the maturity of its debt worth 59 billion dollars fueling fears of a collapse of the emirate.
Oil prices fall on Friday in the opening exchanges in New York, the price dropping 4.81 dollars to 73.15 dollars, traders worried about the consequences of financial difficulties of the emirate of Dubai on economic recovery .
The announcement by Dubai has cast a pall over the entire finance, equity markets falling heavily Thursday (-3.36% on the European index EuroStoxx50) on all seats worldwide (-3.22 for the Nikkei Friday).Meanwhile, the dollar went back over 1% against the euro to 1.4867 as investors signaling a sudden aversion to risk.
The weaker dollar boosted oil prices and vice versa
It turns out that the dollar and oil, which is priced in U.S. currency, maintain an inverse correlation. A rising dollar is falling and oil prices and other commodities, which is currently the case.
The soaring price of black gold in recent weeks was also based on a general positive sentiment shared by investors in financial markets.Fears emerged with the financial problems of Dubai logically entail a sudden loss of attractiveness of oil.
"Crude oil is still grappling with fundamental bearish, despite the weekly statistics on stocks issued in the United States," said Darin Newsom, an analyst at DTN Telvent on Market Watch. Data released Wednesday showed an expected increase in oil inventories higher than expected.
The ounce of gold was also affected by the downturn in the commodities market, falling 3% to 1157.40 dollars to 10.30.
Nicolas Sarkozy wants a debate on deficits. This is his announcement during an exchange with hundreds of mayors at the Elysee on the issue of local government reforms. The president had previously tried clearing the ground, apologizing for not being able to go to their convention, ensuring that it was not to avoid their anger on local government reform.
The President has subsequently commented extensively on the subject, pointing specifically drift accounts in the regions: "When I see (…) the fiscal madness that seized a number of areas, I say be careful anyway, because it is the competitiveness of France (who is involved). One criticism is that the Left, which controls nearly all the French regions.But the majority, which has recovered areas in March next will be riding the theme of taxation in the region, pointing in particular the inflation of budgets and taxes found in these communities.
A conference deficits without date
He therefore used his speech to announce a national conference "to discuss the shortfall in France" which meet the state on one hand and those responsible for social security and local authorities on the other .The date of the event remains at present unknown.
"We plan with Prime Minister (Francois Fillon) to organize a national conference to discuss the deficit of France, Nicolas Sarkozy said.
"It will have the responsibility for social security, those local and those of state talk together (…) me, I promised that I would not replace an official two who is retiring but If you local, you create one over two, how one can escape, the same country, "he said.
"Sarkozy remains inflexible on the territorial reform
"We certainly have participated in things that were not correct and we are sorry. We apologize. " This was said boss of Goldman Sachs (GS) Lloyd Blankfein, who tried to extinguish the controversy after his recent interview with London's Sunday Times newspaper in which he said that banks had "an important social "and that his, in particular, worked" in the service of God. " Remarks that he "would not have had to" speak, "he later confessed.
Apologies for the investment bank came at a time when it is subjected to a barrage of criticism. Goldman Sachs has been in effect during the first 9 months of the year the bank's most profitable and the NYSE has already provisioned 16.7 billion dollars to reward traders and executives. Approximately more than $ 500,000 in premium per employee.Astronomical sums deemed by the Americans, but that Blankfein stands by the fact of not wanting to lose his "talent due to a change in methods of remuneration."
So, trying to get closer to its humanitarian principles and the "social role" he defends, Blankfein said the bank would release $ 500 million to help 10,000 small U.S. companies. A collaborative initiative with billionaire Warren Buffett, who will co-direct the panel to oversee the entire operation.In practice, Goldman Sachs will provide annually $ 100 million, or about what he earns in a day of good trading! The Financial Times reports that during the third quarter, the investment bank has recorded 36 days during which its traders have gained daily more than 100 million dollars …
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The France she may suddenly find themselves plunged into darkness? With the approach of winter, the issue is not uncommon. The EDF nuclear fleet this year is much less available than in previous seasons: a reactor in five is in fact stationary. Several plants are victims of unexpected incidents (our editions of the November 6). RTE, the company that manages the lines with high and very high tensions in France, concerned about the situation but has several scenarios to protect the consumer.
Dominique Maillard, CEO of TEN. (Photo: Médiathèque RTE / Sophie Brandstrom)
To great evils great remedies. Unemployed for eight months, Bernard Mauriange decided to make his own advertising to find a job. Since Thursday, the former director of operational marketing 53 years, appears in fact in 4 by 3 on a billboard on Route de Clisson, in Vertou, south of Nantes (Loire-Atlantique), describes "West France . On the panel, you can read the slogan: "Sales Manager Company seeks adventurous same profile, completed his giant portrait and telephone number. "There was a billboard on the highway free very transient. I have attached the owner. He liked my approach and gave me this site for a month, "explains Bernard Mauriange in the regional newspaper.
The diffusion of a trailer on Youtube
After redundancy, the fifties was supported by a firm of reclassification. "You're like a product to sell.It must arrive at the top of the gondola to attract buyers, "he says one consultant. A comfortable and full of composure, he then quickly found his tone audacity. He picks partners for printing brochures to send to companies and distributes itself platelets in the 1st class TGV. "The eyes of others is fun, you have everything, one who takes you for a fool, who cares completely, but also people highly available," says the fifties. Amateur 'buzz marketing', Bernard Mauriance peel ads for internet connection, creates his own website and blog. With his partner, Bernard Mauriange will hold the headliner in Vertou for a month. Next step in case of failure: the distribution of a trailer on Youtube.
The initiative of Bernard Mauriange for a job not unlike the advertising operation of the pole vaulter Romain Mesnil, last March.In search of a sponsor, he had initially made a video in which he would run naked through the streets of Paris and was sold on Ebay.
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More than 600 amendments and three motions, including a referendum motion. The senators have bread on the plate. They review from today Bill Post in transforming a company limited by shares. This text France transposes the EU Directive provides that the full liberalization of the postal delivery will take effect in 2011. It confirms its public service missions to the company and the existence of the 17 000 points of contact in France.
The Senate debate will last all week to get it over early Friday, by Sunday. "On a subject that is as much controversy, 600 amendments, it is not surprising, says Peter Hedgehog UMP Senator and rapporteur of the text. The Communists have tabled amendments to delete section by section. "According to Article 1 which transforms the status of La Poste, will pass unchanged."Already adopted by the Committee, it will not be discussed again by the majority."
A week of local actions
Yet the point that crystallizes the most virulent opposition. Its opponents see it as the first step towards privatization of the company. Beginning with the National Committee against the privatization of La Poste. Bringing together some sixty associations, unions and leftist parties, it requires the abandonment of the bill and a referendum on the issue after "voting citizen" in early October when 2.3 million people participated. The committee called Friday for a week of local actions throughout France, until November 7.To mark the occasion, he invited senators and personalities of the show today to share a picnic and a "happy hour" with militants in the Luxembourg Gardens in Paris.
It asserts, finally, having printed more than 5 million postcards to be sent to the president calling for a referendum on the future of La Poste.
"Touching the status of La Poste will inevitably have an impact on the future of postal workers and the French territory, in particular his campaigns, said Martial Bourquin, Senator PS Doubs. The Socialist Party is against this change. As SNCF, La Poste can remain a public industrial and commercial, while facing competition. I filed 41 amendments and the Socialist Party over 400 in total. "
The government has filed such an amendment changing the financing of the mission planning of La Poste.In committee, Senator Pierre Hedgehog had pushed through, against the advice of the government, an amendment of 80% to 100% tax exemption for The Post on the business tax to fund its network. A new amendment will be presented by the government. "The 100% is deleted, to avoid legal action from Brussels, says Pierre Hedgehog. The amount of the reduction will be assessed each year and included in the budget bill. "