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ECB prepares to raise rates in July

As expected, the Governing Council of the European Central Bank, meeting Thursday in Frankfurt, has left unchanged its interest rates. However Jean-Claude Trichet sought to prepare the minds of an increase in July. "Overall, the risks to price stability are on the upside, and a strong vigilance is therefore warranted," said the president of the ECB at the press conference that followed. In the coded language of Frankfurt, a "strong vigilance" is the conventional signal to indicate a rate hike next month."Right now we still believe that the July increase will last (this year)," said Jonathan Loynes, however, the chief economist for Europe of Capital Economics.

Jean-Claude Trichet has not sought to exaggerate the danger of inflation: "The upward pressure on inflation (is) mainly due to energy prices and raw materials," he admitted. Markets have noted that the ECB had not raised its forecast of rising consumer prices for 2012, which remain in the range of 1.1% to 2.3%. This status quo, compared to previous estimates of last March, has contributed to a decline of the euro vis-à-vis the dollar.

In terms of economic growth forecasts have been revised slightly upwards for 2011 (from 1.5% to 2.3%), the range for 2012 is particularly large (between 0.6% and 2.8 %)."Uncertainty remains high," commented Jean-Claude Trichet installment payday loans.

No "default"

It was also expected on Greece, "after the procession of contradictory statements from finance ministers, who have unfortunately contributed to widen interest rate spreads on sovereign debt in the euro area in recent weeks," regrets a market economy. The ECB President was extremely strong. "It would be a great mistake" than engaging in a debt restructuring, "he insisted. "Our position is clear and we served on European governments" no "credit event", no "default". The ECB considers that Greece would be closed permanently while the financing markets.

"We exclude any participation of private creditors who would not volunteer (from them), he only conceded.He however refused to say what would the ECB on securities it has in its balance sheet (between 60 and 70 billion euros), if private investors decided to extend the maturity of their claims.

In a less dramatic, the college of 27 governors took action on the succession of its chairman, in the form of a statement. "The governors did not Councilof objectionable to the proposed candidate, Mario Draghi, who is a person of recognized standing and professional experience in monetary or banking matters."

"The French reimburse banks lending to Greece"

The player has to use default in the articles of figaro business cards design.fr. maj3

iOS 5 and icloud: updates to the iPhone

Serious competition from Google's Android, Apple gave Monday a facelift to the iPhone. Surrounded by a cohort of leaders, CEO Steve Jobs introduced from San Francisco, California, the new version of IOS, the operating system behind the iPhone, iPad, iPod touch. This software, including a 5 iOS draft was made available to developers on Monday, will be available for the iPhone 3G, iPhone 4, iPad iPad 2, and the latest iPod touch here in the fall short term personal loans. Here's what we can learn from this presentation.

Devices iOS archive their data on Wi-Fi and 3G. Photo credits: Kimihiro HOSHINO / AFP

The chances of Christine Lagarde at the IMF confirms

Christine Lagarde is likely to succeed Dominique Strauss-Kahn to head the International Monetary Fund (IMF). In any case, the scenario that emerges, as the Japanese business daily Nikkei, citing sources close to the international finance on Wall Street. The newspaper said the French Minister of Economy, the only officially declared candidate with the Mexican Agustin Carstens, get the support of the United States and Japan, the first two countries of the organization by number of votes. Also according to the Japanese daily, this support would be provided by Washington and Tokyo from June 10, the official date of filing of nominations.

No reaction from Tokyo at the moment on these assumptions, the finance minister Noda Yoshikiko having limited to clarify that the new IMF chief should be chosen through an open, transparent and based on merit.

Priority to emerging

These signals confirm a nomination well under way for Christine Lagarde. But out of interest, no premature triumphalism. The French minister continues his world tour to defend his candidacy and try to answer the demands of emerging countries in search of better representation.

These are also priority figure in his travels. After being in Brazil May 30, she will visit India on Tuesday, then in China. In total, four or five days of campaigning in Asia "" listen to the voice of these countries on the IMF and possibly take into account their recommendations into its program, "according to his entourage. Finally on June 10, the Minister will travel to Lisbon to meet his African counterparts.

In its international campaign, Christine Lagarde also can probably count on strong support from Germany.Monday's visit of Angela Merkel in Washington to discuss with Barack Obama instead of the IMF is emerging from this point of view of good omen. It could allow the German chancellor to convince Washington, if not already done so, whether to support the European candidate.

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Debt: the bad blood between Obama and Congress

Since mid-May, the United States exploded the ceiling set by Congress of American debt, around 15,000 billion dollars currently. This ceiling has been found in January. It would suffice to go back again to exit the United States from embarrassment: the country can theoretically borrow on the markets when the threshold is exceeded. Which is to say that the U.S. is in a situation of default.

But the maneuvers have pushed until August 2, the bankruptcy of the federal state. The White House and Congress have so until that date to agree. The first press the other to raise the ceiling, but he refuses to press the button until the government has not detailed a program foresaw and specific reductions in public spending. The United States shackle in effect three years of deficit exceeding 10%.It should reach around 1.6 trillion dollars this year.

If the financial world does not doubt the ability of great leaders of the first world power to agree, for the good of the global economy, the timetable is narrowing. And rating agencies do not fail to recall. Thus, after Standard & Poor's in April, Moody's puts a sudden extra pressure on Thursday by threatening to put the debt rating of long-term United States, currently at AAA, on negative watch, implying an actual deterioration in the coming months.

No to raising the ceiling

Yesterday, Wednesday, Barack Obama received dozens of Republican representatives in the White House. These, a majority in their meeting, refused to give the green light to an increase in the federal debt ceiling because of cuts in spending."We need to tackle this debt," said out of the meeting the head of the budget committee in the House, Paul Ryan, author of a draft budget with drastic cuts in funding for the welfare state and criticized by Democratic allies of Barack Obama.

Tuesday night, the House rejected by 318 votes against 97 an increase of 2,400 billion of debt ceiling, a move described as "irresponsible" Democratic side.

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The Paris Bourse uptick

Keep the 4000 points will be the goal of the day at the Paris Bourse. This threshold was consolidated yesterday with an increase of 1.63%, amid relief on the Greek case. Germany indeed abandon the idea of ​​restructuring the debt. Information that was also relieved Wall Street and Asian markets yesterday.

On Wednesday, the CAC 40 is moving slowly from 0.14% to 4014.84 points. Elsewhere, the London Stock Exchange opened down slightly, the FTSE-100 index lost just 0.05% to 5986.93 points. Frankfurt, by contrast, began with a gain of 0.23% to 7310.56 points.

Already in Asia, the euphoria gave way to doubts after the announcement of a further slowdown in manufacturing activity in China. PMI purchasing managers of the China Federation of Logistics and Purchasing (CFLP) fell to 52 last month, cons 52.9 in April.For its part, HSBC has calculated a PMI to 51.6 for May, against 51.8 in April, and noted "a continued moderate growth in manufacturing output accompanied by an easing of inflationary pressures" on last month.

The U.S. employment program

These new investors also encourage Parisians to moderation. Especially since a series of important indicators is expected:

In France, the unemployment rate fell slightly in the first quarter of 2011, to 9.2% of the workforce in France (9.7% overseas departments included), down 0.1 points compared revised figure for the fourth quarter of 2010, INSEE announced Wednesday.

In Europe is provided the manufacturing PMI in May.Then the United States, employment will be honored with the study Challenger (1330) and the monthly ADP (1430), both published before the traditional employment report from the Labor Department, scheduled for Friday . Are also scheduled in the U.S., construction spending and ISM manufacturing.

As for currencies, the euro remains stable against the dollar in morning trading at 1.4427 dollar. For its part, the oil rises, still worn by the announcement on Greece.In morning trading, a barrel of light sweet crude for July delivery took 30 cents to U.S. $ 103 while that of Brent North Sea crude for delivery gained 31 cents identical to 117.04 dollars.

Operators under supervision

As for values ​​to be followed:

Axa: 2.02% to 15.14 euros

The group, which has detailed a plan Wednesday to strategic investors, will sell its Canadian subsidiary to Intact Financial.

Peugeot: -0.37% to 29.30 euros, Renault: -0.15% to 39.36 euros

Registrations of new cars rose 6.2% in May

Schneider Electric: 0.22% to 114.85 euros

The group announced Wednesday a takeover bid of $ 2 billion (1.4 billion euros) to Telvent, a specialist in systems for managing energy infrastructure, water and transport.

France Telecom: -0.57% to 15.81 euros, Bouygues: -0.11% to 32.06 euros, Vivendi +0.15% at 19.42 euros

The mobile phone may be carcinogenic but no formal proof establishes the link between mobile use and brain tumors, cancer specialists have said Tuesday the World Health Organization (WHO).

Arkema: -0.35% to 75.90 euros

The group will enter the CAC Next 20, the antechamber of the CAC 40, and CNP Assurances will be withdrawn with effect from 20 June, the Council decided on scientific evidence of NYSE Euronext Paris. In a statement, Arkema said that NYSE Euronext enters the CAC 60 and the Large NOC is withdrawn.The reverse operation is performed for the CAC Mid 60.

Neopost: -1.16% to 61.50 euros

The group announced an increase in its turnover in the first quarter despite difficult conditions in Europe and confirmed its targets for 2011.

Theolia: 8.40% to 1.42 euros

The group announced Wednesday it had signed an MoU with the National Electricity Morocco (ONE) to develop and implement an entire fleet of 300 megawatts (MW) in Tetouan near Tangier.

Lagardère: 0.51% to 28.52 euros

The group has completed the bulk of the sale of its international magazine to Hearst, which should have a negative impact of EUR 35 million on operating profit of Lagardere Media for 2011.These disposals will impact is the objective announced in March a growth of around 10% of its 2011 operating profit at constant exchange media, which included the magazine internationally.

Neopost: -1.17% to 61.49 euros

The group announced an increase in its turnover in the first quarter despite difficult conditions in Europe and confirmed its targets for 2011.

Belvedere: -1.39% to 61.50 euros

The CEO challenge the fines against him required by the representative of the college's Financial Markets Authority (AMF).

Bourbon and Atos Origin today hold their general meetings.