Investors, who had relieved acueille unexpected, increase of the ISM manufacturing index yesterday also learn some good news surprise side of the job today. Entries weekly unemployment, against all expectations, declined slightly in the United States during the week to August 28, at 472 000 478 000 cons last week, according to the labor department.Economists had expected jobless claims averaged 475,000.

But at the same time, investors learned that nonfarm productivity had declined much more sharply than expected in the second quarter to post its sharpest decline since the third quarter of 2006. Productivity has contracted at an annual rate of 1.8%, instead of a contraction of 0.9% initially announced. Although expectations were counting on a decline of 1.9% over the period April to June, this review again cast doubts on the markets.

Still on macroeconomic, investors now expect industrial orders for July and the promises of home sales for the month of July.

Note that the foreign exchange market, the euro is up slightly against the dollar, but only to increase its gains amid anxiety before the monthly monetary policy decision of the European Central Bank (ECB) and on the eve the very important report on employment and unemployment in the United States. The European currency traded at 1.2824 dollars against 1.2807 dollars late Wednesday afternoon.

Burger King flies

On the side of values, the automotive sector should stand today. The month of August has actually been the worst for U.S. auto industry since 1983. Sales fell 21% to 11.47 million vehicles.Ford Motor (0.53% to 11.67 dollars) has reported a sales decline of 11%. General Motors, which is preparing an offering of securities to reduce by nearly 61% of the state capital, reflecting a drop in its sales by 25%.

Always on the side of values, the U.S. computer giant Apple (-0.18 to 249.87 dollars ù) has unveiled the updated version of its iPod portable should be very surrounded. The Apple brand has also significantly lowered the price of its Apple TV boxes, for playback on a television screen high definition video from a computer.

According to CNBC, Burger King (23.30% to 23.26 dollars) will be acquired by Capital 3G priced at $ 24 per share. The transaction is valued at a total of four billion dollars (3.12 billion euros).

Warren Buffett has filed a formal offer to repurchase its Berkshire Hataway (+0.11% to $ 81) of 19.9% stake it does not already own in Wesco Financial (0.94% to 34.31 dollars).

General Electric (unchanged at 15.01 dollars) and Westinghouse Electric (-0.42% to 361.46 U.S. dollars) could spend ten billion dollars (7.8 billion euros) in total to build two nuclear reactors in India , the Financial Express reported Thursday. Citing unidentified official sources, the newspaper said the two projects are being finalized in preparation for the planned visit in November, U.S. President Barack Obama.

HP (+0.38% to 39.36 dollars) announced Thursday it had raised its takeover offer for 3PAR (5.27% to 33.77 dollars) to $ 33 per share, valuing the company Storage Data to 2.4 billion dollars.This announcement follows the increase in supply pa Dell (-0.87% to 12.01 dollars) which offers $ 32 per share. 3PAR has responded by stating that the offer was superior to HP and that he intended to break its previous merger agreement with Dell.

After returning to the equilibrium time, the Dax reassigns 0.13% in mid-day.The London FTSE follows the same path (-0.16%) after starting in negative territory (-0.10%) followed again by a brief rebound.

New indicators are expected in the United States, in addition to the unemployment figures in France in July. The real estate overseas, thermometer world's largest economy, will still be in the spotlight with the publication of the FHFA index of house prices and numbers of new home sales in July, which could rebound slightly. Before the opening of Wall Street, markets will also monitor the numbers of orders for durable goods last month, which could also not be bad.

On Tuesday, bad sales figures for housing (the lowest since 1995) had affected the Parisian index plunged below 3,500 points with a drop of 1.75%. This Wednesday in Asia, fears of a relapse of the new global economy have sealed the evidence.Wall Street had already set the tone with a fence net decrease of 1.32%.

As for currencies, the euro has stabilized against the greenback. The euro traded at mid-day at 1.2662 dollar payday loan no fax.

Edenred unscrews

In terms of values, many trucks will publish their results quarterly and half in this weekend.

Lagardere takes the lead, up from 3.94% to 29.045 euros. The title is supported by Exane noted that his opinion of "Underperform" from "Outperform." The target price has been raised from 35% to 35 euros

Edenred, the old branch of prepaid services group Accor became autonomous, has reported an operating income of 155 million euros in the first six months of the year, down 7.1% .Turnover rose 3.8% to 461 million. But the group is very conservative forecasts, the growth in issuance volume yet to be affected by rising unemployment in Europe. The securities were down 0.22% to 13.78 euros.

L'Oreal (0.90%) and Sperian (+0.09) will publish its first half results after market close.

The Polish government has shortlisted five offers to buy the 51% stake in state power company Enea on Tuesday said the Treasury Department, without specifying the identity of candidates. EDF (-0.44% to 31.63 euros) and GDF Suez (-0.80% to 24.32 euros) would be in the running according to media reports. Only EDF confirmed it had made a preliminary offer.

Scor (1.91% to 16.285 euros) has been a change of recommendation by Fitch.The broker has raised its outlook on Tuesday its debt rating of reinsurance group to "positive" cons "stable" and kept at "A" rating from its long-term debt of the group. Fitch said the decision including the prudent investment policy conducted by SCOR and the diversification of its risks.

The road sector liberalization and the opening of the profession to competition is the stumbling block between the government and unions of truck drivers. A measure that they deem unfair but that is imposed by the austerity of the EU and the IMF in exchange for a loan of 110 billion euros.

The road back to work

If the road has finally decided Sunday night to resume work for tourism professionals, the damage is done. "With all these strikes, we lose about 100,000 tourists a day, regrets Spiros Guines, vice-president of the Union of tourism professionals. Nothing on the Piraeus area, there are more than 2,500 cancellations in a few days.Tourists are frightened and we're paying the consequences. "

And for good reason, tourism professionals believe that they acknowledge this year down 20% of revenue, or nearly one billion euros in losses compared to 2009. Tourism is the main economic resource of the country. It represents nearly 18% of GDP.

The government knows that after this showdown new social tensions will follow, but it was decided to continue its reforms. "We do not cry victory and remain cautious because we know that change is difficult and tough measures," said Giorgos Petroulakis, Secretary General of Ministry of Communication. The majority of Greek support these reforms, we must carry them out.Regarding the tourists, we are committed to what they have no problem during their stay in Greece. "

ALSO READ:

"SPECIAL CASE – Greece, a challenge for Europe

In Greece, the extremists radicalized

VAT in the catering dispute

The president of the centrist Senate Finance Committee, Jean Arthuis, for his part argues for the introduction of VAT "between 10 and 12%" to local shops, including restaurants instant payday loan no TeleCheck. The Budget Minister Francois Baroin, had also mentioned in June the possibility of raising the VAT paid in the restaurant, before retracting. A year after the VAT reduction from 19.6 to 5.5% in all the restaurants, the measure of criticism towels.

Plea for a wide shot of plane

And as the government seeks to save 100 billion euros by 2013, envisages various tracks. As such, Philippe Marini believes that "all preferential arrangements under the income tax, but VAT, pursuant to corporation tax, the solidarity tax on wealth, can be affected by the reduction of the tax expenditure.

Then there is the son, or more precisely the fourth son of Rupert James, now considered the likely successor to his father as head of News Corp.. Teenager James was known for his rebellious streak: bleached hair and piercing in the eyebrow, he distances himself from the family way, left Harvard in 1995 and created a hip hop label, Rawkus. After three years, the company, which generates an annual profit of 2.5 billion, was acquired by the company of Dad. James, suddenly sobered, is back in the family fold.

He became head of operations at News Corp. Internet without much success, then the satellite television network that makes Asian StarTV beneficiary. In 2003, his father appointed him director general of the British operator of satellite TV BSkyB.Quelques years later, he left his office to become chairman of BSkyB. James needed so as the most likely heir to his father. The two men are close, they called even daily according to the BBC. The Financial Times also reported an incident in April when James Murdoch, furious, entered the premises of The Independent in storming the cons of a newspaper stating: "Rupert Murdoch does not decide the outcome of the election – it is you who will.

Battle between BSkyB and News Corp: James is at odds

Today, James Murdoch is in a difficult position, combining the positions of chairman of BSkyB and Director of European and Asian operations of News Corp. payday loan. The group led by his father now wants to take full control of BSkyB which it already holds 39% shares. Last week, Newscorp has offered to buy the remaining shares at a price of 675 pence per share. It has raised its offer on Tuesday by offering 700 pence per share. The cost for Ruper Murdoch thus amounts to 7.8 billion pounds (about 9.4 billion euros), valuing the entire company at 12 billion pounds (14.5 billion euros) .

BSkyB has however rejected the offer, saying it significantly undervalues the company.In a statement, the British operator admits however that "an offer from News Corp. could serve the future interests of its shareholders" but said he would only accept a superior offer to 800 pence per share.

According to the Financial Times and the Daily Telegraph, James Murdoch would be steering clear of discussions of the board of BSkyB's offer of his father. The FT noted that "take full control of BSkyB would strengthen the business of James Murdoch is the corner of the empire his father knows best as a former CEO of satellite operator.

Following the announcement, as BSkyB jumped to the London Stock Exchange: just before 15h, action gained 19.40% to 717 pence. This surge up the operator above the purchase price offered by its parent.

Contagion Greek-Spanish portugo

The Spanish government has significantly lowered its estimate on Thursday night growth for 2010. The Gross Domestic Product (GDP) should grow as well as 1.3% this year, against a previous estimate of 1.8%.

"The fiscal consolidation process will result in a reduction of forecast growth," said Spanish Minister of Economy and Finance Elena Salgado.The new forecast reflects the austerity measures taken by other EU countries like Greece and Portugal "which can also affect" the Spanish growth, "she added.

Unemployment exceeds 20%

Shortly before the announcement, the Socialist government of Jose Luis Zapatero adopted a decree-law providing for the implementation of drastic cuts in public spending for 2010 and 2011, totaling 15 billion euros.These measures are intended to "expedite the process" of reducing public deficits, which rose to 11.2% of GDP last year.

These new measures will have a "clear social impact," acknowledged the head of government, facing an unemployment rate above 20% of the workforce.

ALSO READ:

"Spain announces a new dose of austerity

"Portugal switches in turn in the austerity

The co-founder of Apple and provides no fewer than six reasons for this refusal. Widely used on the Internet, Flash is a plugin "100% proprietary" Apple can not improve. However, it would be slow and insecure. It would reduce the autonomy of mobile devices and would not touch some of the gestures.It would not, either, if necessary to take advantage of the Internet, since the videos from YouTube and other sites have already been converted into a format readable by devices from Apple, H.264. Finally, the creation of applications and Flash games, designed to run on multiple platforms, not exploit the best features of the iPhone.

"Flash has been created during the era of PC to PC and mouse," says Steve Jobs, therefore, recommends that Adobe to focus more on the future "instead of criticizing Apple for having drawn a line under the past" . The future, he says, is to open formats on the Internet, including the HTML5. To the chagrin of Adobe, these new tools can include videos on websites without having to install Flash on their computer or mobile payday loans.Already, U.S. media have changed their site to include video in HTML 5, still remember Steve Jobs.

Crisis communication

Nevertheless, the lack of Flash in web browsing is still among the most frequent errors associated with the iPhone and iPad. It also applies to Apple's repeated criticism on the Internet. During April, an employee of Adobe has publicly recommended Apple to "get lost". Its competitors also benefit. Earlier this week, the head of the development of Android, Andy Rubin, has compared the restrictions of Apple's policy of North Korea and announced that future phones will integrate Google Flash. In Silicon Valley, rumors suggest that the case could be brought to justice.

The open letter published Thursday shows that these incidents are taken very seriously at Apple.Steve Jobs had already used the same method to break Apple's other crisis situations. He responded to Greenpeace, which accused the Mac to be too environmentally unfriendly, had determined the end of the locks on music (DRM) and announced his illness and withdrawal. In this battle as technical as media, Steve Jobs, however, avoided relying on an unlikely ally, Microsoft, whose new mobile operating system, Windows 7 Phone will not be compatible with Flash.

Goldman Sachs has managed to earn 3.7 billion dollars in betting, starting in 2007, the collapse of the mortgage-market. In doing so, the giant Wall Street acted against the interest of some of its customers, which it sold securities that he knew "toxic". This is the conclusion, after months of investigation, the Permanent Subcommittee on Investigations of the U.S. Senate.

Tuesday, during public hearings stretched on Capitol Hill, Lloyd Blankfein, the head of the giant Wall Street, has categorically denied these allegations."We do not speculate massively downward in the housing market and we certainly do not bet against our clients," he was forbidden under the spotlight, saying that even on the mortgage-market, Goldman Sachs has lost about $ 1.2 billion in 2007-2008.

"Nobody in the management of Goldman Sachs has never asked me to bet on a decline in the subprime market," added before skeptical senators, Joshua Birnbaum, the former head of structured products of the bank, also on the bench defendants.

Convinced otherwise, armed with emails and internal documents seized in the bank, the debonair Senator Carl Levin, glasses pavement at the end of his nose, led a determined assault Tuesday. But the chairman of the committee was confronted with a wall.He vainly tried to tell the past and present officials of Goldman Sachs called before him (including one French employee), how could they believe in the quality of debt issued by mortgage lenders whose reputation was terrible. Receivables classified as "business of shit" in an email exchange between two bank officials. "How many of these" affairs of shit "did you sell to your customers? asked, exasperated, Senator Levin. You've sold hundreds of millions. "

Bankers Daniel Sparks and Michael Swenson, impassive without being arrogant, but obviously confident of the merits of their point of view, seemed not to understand or what they asked or what they were charged.They also questioned the methods of calculating profits of Goldman Sachs selected by the committee.

Battle of Senate proceedings

According to Senator Levin, the investment bank has yet actually decided in late 2006 to a major cleanup of its accumulated risk on securities backed by the real estate markets whose collapse loomed. By discipline, to limit its risks and if possible in the hope of profiting from the trend, the bank had sold to investors and deliberately chosen for their credulity his titles too "toxic"."We have not been systematically and significantly" net short position "on derivatives of residential mortgages in 2007 and 2008," replied Lloyd Blankfein.

Meanwhile in the Senate floor, Democratic leaders and Republicans arguing over procedural votes before engaging in substantive debate on the reform of Wall Street. The Conservatives want by all means restrict the scope of Democrat Bill before it is submitted to a plenary debate in the room. A compromise is always likely, because both parties want to correct the excesses that precipitated the financial crisis.But the Republican minority wants to take his time, while Democrats want to take this case Goldman Sachs to prohibit such banks with access to the discount window the Fed to speculate on their own account.

ALSO READ:

Goldman Sachs: Fabrice Tourre rejects charges

Goldman Sachs explained to Congress

The Wall Street Journal, officials have sold the shares in question are an attorney, two vice-presidents, a chief accountant and a member of the board of directors.

The sales took place between October 2009 and February 2010, the Wall Street Journal reported on its website, citing the company InsiderScore.com, which presents itself as an observatory of insider stock transactions.A few months ago, in July 2009, the SEC had informed the bank that it was considering legal action against them.

On April 16, the day the SEC announced it had filed a complaint for fraud against Goldman Sachs in the civil courts, as the Goldman Sachs lost 13% of its value on the NYSE. The fall had continued throughout the week.

To prove his good faith

The announcement comes as Goldman Sachs is preparing his hearing Tuesday before the Parliament. According to a document of 11 pages that she purchased the Washington Post, executives at Goldman Sachs who will testify alongside Fabrice Tourre want to demonstrate their good faith in this matter.

Before the Senate subcommittee investigation on the financial crisis, they will indicate that they do not know if housing prices would increase or decrease when the product under investigation, the Abacus, was sold. The document describes the debate that animated the leaders of investment banking in 2006 and 2007. As proof, the bank will provide the e-mails on the subject by the leaders.

Nuisance emails

Their testimony should however be undermined by embarrassing e-mails released by a Senate committee on Saturday. According to the messages exchanged, the bank would have otherwise benefited from the mortgage risk to pocket tens of millions of dollars.

In one of these messages, the CEO of Goldman Sachs, Lloyd Blankfein, wrote: "We obviously have not escaped the bedlam of subprime mortgage.We lost money and then we have won more than we lost through our short position. In another mail, managers assess the consequences of failing grades assigned by rating agencies, subprime, "like we're going to make much money," wrote one of them. "Yes, we are well positioned," replies his colleague.

"Investment banks like Goldman Sachs did not just brokers, they were interested developers of risky and complex financial products that led to the outbreak of the crisis," says Carl Levin, chairman of the Sub-Commission Senate Permanent Investigation, which will face the leaders of the bank Tuesday.

ALSO READ:

Goldman Sachs sued by shareholders

"The thrill of the financial markets is clear. The companies that have promising products, attractive valuations and are focusing on big markets again become interesting, "says Dr. Philippe Pouletty, General Partner of Truffle Capital and Honorary Chairman of France Biotech. It was time. Since 2007, this funding, essential for the biotechs, was dry.

Partnerships and acquisitions

The resumption date of late 2009.In November, the biotech NicOx has managed to collect 100 million euros. "Five to six biotech could go public by 2010," predicts Philippe Pouletty. This could be the case Carmat, further participation of Truffle Capital, which is developing an artificial heart, then AB Science, which addresses mastocytosis, a rare disease no teletrack payday loans.

The crisis has not resulted in catastrophe for the biotechs. The decline in venture capital funding has been limited to 25%. The biotech, which have little recourse to debt, were not affected by the closure of the credit tap. At the same time, they took advantage of the growing interest of pharmaceutical companies, forced to look outward to compensate for their lack of internal creativity. The labs have multiplied in recent months partnerships and takeovers."Biotechnology and the green industry are two huge sectors globally. France and the investors have an incentive to participate in this growth, "said Philippe Pouletty. But investors are not always what you. "The performance of biotech on the Paris market is not attractive enough," lamented Francis Deneux, the firm Arthur D. Little. Without doubt, as these start-ups are often financed by public funds including, with "too little selectivity. This leaves the "not enough money for the best of them."

ALSO READ:

A new biofuel with Deinove