No big movements, the indices have stagnated at these levels throughout the session. Investors have also learned a pleasant surprise on the 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.

Other good news: the promise of real estate sales have rebounded in July.The index of sales agreements rose 5.2% compared to June, when the 79.4 economists had expected a decline of 1%. The decline in June was revised down slightly, to -2.8% against a 2.6% previously announced.

Statistics mixed

But in the meantime, 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.

Moreover, the increase in orders received by U.S. factories in July was weaker than expected.These have increased – after two consecutive months of decline – from 0.1% to 409.5 billion dollars while economists were expecting an increase of 0.3%.

"It has a low volume of trade, economic indicators rather positive, so it is easy to push the market upwards," said Scott Marcouiller, Wells Fargo Advisors. "It does not happen much on the market," said Lindsey Piegza, FTN Financial, noting the hesitation of the indices during the session. Caution is still required before the publication of the very important report on employment and unemployment in August, tomorrow, Friday, payday loans easy.

Note that on the foreign exchange market, the euro is up slightly against the dollar, but only to increase its gains amid anxiety.

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 declined 21% to 11.47 million vehicles. Ford Motor (0.86% to 11.71 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 (0.74% to 252.17 U.S. dollars) 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.

Burger King (25.08% to 23.59 dollars) has formalized its takeover by 3G Capital at a price of $ 24 per share.The total transaction is valued at four billion dollars (3.12 billion euros).

Warren Buffett has filed a formal offer to repurchase its Berkshire Hataway (+0.38% to 81.22 dollars) for the 19.9% stake it does not already own in Wesco Financial (unchanged at $ 363 ).

General Electric (0.80% to 15.13 dollars) and Westinghouse Electric might spend ten billion dollars (7.8 billion euros) in total to build two nuclear reactors in India, 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 (1.20% to 39.68 dollars) announced Thursday it had raised its takeover offer for 3PAR (2.43% to 32.86 dollars) to $ 33 per share, valuing the company Storage Data to 2.4 billion dollars. In the process, Dell (1.98% to 12.36 dollars) refuses to bid and withdraw from the race.

Deezer hopes to increase its subscriber base – from 25,000 today to 200,000 by the end of the year and one million a year – and expand its sales – 6 million euros in 2009 20 million euros in 2010. Orange, meanwhile, has "to differentiate the active target urban youth and families with teenagers.Indeed, if access to Deezer Premium is included in the packages Origami and a triple play offer at 29.90 euros per month it costs 5 euros extra per month for other packages No fax payday advances.

It remains for both partners, who unveiled their alliance in late July, to sign the agreement validates the rise of Orange in the capital of Deezer. The French operator will take 11% share in the listening site, which provides not need to raise new funds to launch its international deployment in the fall.

This partnership is strategic to guarantee a peaceful future to Deezer.This yields a significant boost to the development of its subscriber base pay, additional income for determining advertising revenue generated on the paid site, which must repay the rights to record labels and copyright societies to exploit the 7 million shares offered to its users.

ALSO READ:

"Music: Orange launches Deezer

Apart from e-tailers (Sarenza, Brandalley …) announced on Tuesday that rates of double-digit growth for the period, many professionals do not share the enthusiasm of Herve Novelli.The Federation of clothing stores (FEH) regretted that such an influx of customers from the first two weeks have calmed down a lot, accusing the floating balances, these balances traditional free-off period – established by law to modernize the economy in 2008.

"I heard here and there a number of criticisms concerning the treatment of sales", said the minister explained that the decision to introduce these additional weeks of balances had not been taken lightly and was the result of months consultation. Nevertheless, he announced the creation of a commission before 15 September 2010 to review progress on this measure for any amendments. Issue which does not entail, for now, its membership.

Echoing the complaints of his guest of the day, Philippe Houze, chief executive of Galeries Lafayette, Herve Novelli also Secretary of State for Tourism has benefited from his visit to criticize the mayor of Paris. Bertrand Delanoe has indeed refused classification of the Boulevard Haussmann department stores and in tourist areas, preventing their opening Sunday.

Extolling the benefits of overseas customers which is keen to encourage the arrival, the Minister expressed his disappointment, and denounce the importance of the shortfall caused by this decision. "We must understand the economic and tourism sector", he said, recalling that the vast majority of Parisians (70%) would not oppose the opening of large stores in the area on Sunday.

ALSO READ

"The summer sales have not recipe

And if too many killed balances balances

The tanker has decided there fifteen years to support himself in a reinsurance subsidiary (a "captive") the management of all of its risks. Given its size, BP did not see the benefit of paying premiums to pool their risks in a relatively small market.

Its subsidiary, Jupiter Insurance, may surrender to its parent up to $ 700 million per event. A rather small amount compared to the competition.For example, Total has a coverage of 1.3 billion dollars for its offshore drilling activity, which 250 million are made with the mutual oil, OIL, born in the early 1970s.

"After a well blowout offshore offshore California and the refusal of the insurance market of the time to cover this risk, tankers have decided to create a mutual dedicated to coverage of risks pollution, explains Gérard Naisse, director risk assessment and insurance group To tal. BP has been a member of OIL before withdrawing. "

Rising premiums

The capacity of offshore insurance is divided between the mutual OIL and Lloyds of London, the first global insurance market absolutely free credit score.In 1988, the explosion of a well off Scotland cost the members of Lloyd's 8 billion pounds. For BP, the amount of the final bill will depend on ongoing legal proceedings and from which he will return.

BP is indeed not the only company involved in the operation of wells. And the big oil struggles to court to best allocate the bill with its partners, which are, themselves, insured market.

Before knowing the exact extent of damage, the insurers have preferred to take the lead, and it shows in their prices. "For renewals of July, there are requests for tariff increases of around 25% for the covers of drilling in deep offshore, notes and Gerard Naisse. It remains to see if oil will agree to pay these prices."Meanwhile, the mutual OIL spark a renewed interest from oil that had opted for self-insurance as BP.

The disaster should not have repercussions beyond this niche of the insurance of offshore drilling. "It's a limited market, rather compartmentalized analysis John Money, head of the energy division of Aon. The accident at BP should not have any impact on other branches of industrial risk. "■

"The accident at BP should have no impact on other branches of industrial hazard"

Moreover, the adoption in the United States by the House of Representatives of the financial sector reform, discussed for months, will attract the attention of investors.The new legislation will include Washington to restructure financial institutions in bankruptcy, for failing to conduct further rescue operations financed by the state. The powers of the Federal Reserve (Fed) are expanded, a monitoring of the sector is expected and will give consumers more protection. Moreover, hedge funds and rating agencies will be subject to more stringent regulations. The text must be approved by the Senate next week before being signed by Barack Obama.

Statistically, the markets will be introduced in France in production prices and imports in the industry at 8.45. In the eurozone, the PMI manufacturing index will be released in 11 hours. Overseas, the jobless claims will be released at 16 hours and the promises of home sales and the ISM index of manufacturing activity.

In terms of companies, EADS shares will be particularly taken this morning. Indeed, the WTO has dealt a setback scathing EU ordering him to remove certain export subsidies provided to Airbus. The Union will appeal the decision of the World. Financial details have not been disclosed. Boeing believes that the pan-European aircraft manufacturer must pay back $ 4 billion of undue subsidies. But the WTO has put forward any figures, it will be difficult to see clearly the consequences of the decision of the international organization.

Moreover, the numbers of registrations in France will be unveiled on Thursday at noon. According to BFM, registrations have fallen by 10% in the month of June In addition, the phasing of the scrappage scheme does not allow a glimpse of the market recovery in the immediate future.Renault would be the big winner in first quarter sales thanks to its built by Dacia Sandero.

Bank stocks should once again hold the attention of investors with a loan of 442 billion euros on Thursday. A year ago, in 1121 established banks in the euro zone had borrowed over 442 billion euros at the ECB at a fixed rate of 1%, a record in the history of European monetary institution on a single transaction.

The Société Générale will be more monitoring than the AMF (AMF), Wednesday imposed a fine of 100,000 euros to Jean-Pierre Mustier, former head of market activities of Societe Generale for failing to initiated. Conversely, Natixis has been exonerated by the AMF following an investigation into his financial disclosure.

Shareholders will also be sensitive to the decision of Saint Gobain to repay 72.1% of the 2009 dividend in shares to allow the group to consolidate its equity by 368 million euros.

In addition, the Sanofi-Aventis could react to the decision of the U.S. Food to MultEQ, an arrhythmia drug cons of the French group on the quarterly list of its audits.

France Telecom will also be under the spotlight. The operator presents its new internal business plan

Out CAC40, Faurecia announced the acquisition of 18.75% of the Chinese automotive Xujang Group, where he became the strategic shareholder.

LE FIGARO – The morale of your customer shops is it affected by the crisis?

Jean-Charles Naouri – Many signs show that pessimism has worsened. He returned in September 2008, at the peak of the crisis. Because of the crisis of Greek and that of the euro, the fear of job loss has increased and concern about the standard of living reached a record high since 2007.The French prefer the job security of their purchasing power and their careers. This general pessimism is, however disconnected from the real economy, which seems to gradually resume. France is no longer in a situation of danger of deflation, the interest rates are permanently lower a guarantee for the future, and the weak euro is an element of recovery. The figures, including our own business performance, there are better a couple years.

Consumer behavior change it?

We found two relatively recent trends Firstly, in an environment seen as more complex, consumers no longer want it decides for them. They want to regain control over product quality, origin and value for money in particular.Similarly, while far to the client, other consumers were at best indifferent and at worst seen as troublemakers, he now draws more and more choices to their preferences and ratings. This horizontal communication facilitated by the Internet, this new proximity, we must reflect and inspire us to develop relationships with our customers in and outside the store.

How are you adapting?

We have a head start in this area because we have long been close to the heart of our strategy. We could for example indicate, in each point of sale, the preferred products or selling. We already strong commitments on the quality of our products.We reassure our customers, for example about what they buy indicating on the Casino-brand products, in addition to the nutritional use their carbon footprint, or that they are without oil palm and gluten free. We just put in place within the group, a Health Committee attended by several senior experts whose mission is to anticipate health issues and help Casino make good choices on offer. We also test systems dematerialized Innovative allowing customers to share their recommendations.

Hypermarkets Géant Casino continue to lose market share.Are they so essential for the massification of procurement and management of shopping malls you plan to transfer them not to invest in your most promising formats nearby?

I believe in small and medium format hypermarkets (6 000-8 000 square meters), which constitute the backbone of malls. I believe in the relevance of non-food offer in textiles, leisure and household equipment. Casino no reason to separate from Géant. Our superstores are as profitable as those of our competitors, and we set the target that market share has stabilized Géant Casino this year.Remember, also, that 40% of group turnover from international have a double-digit growth in France and the formats most carriers (Franprix, Monoprix supermarket Casino …) know sustained growth, which boosts the overall growth of revenues of Casino.

How is the recovery of your brand discount Leader Price, whose sales fell sharply last year?

This is another priority group in France in 2010. We are very pleased with the sales growth in stores converted to the new concept and we are accelerating the pace of refurbishment of outlets from week to week.

Could you introduce CDiscount stock exchange to accelerate the deleveraging of the group?

This is not the agenda.A listing imposes many constraints on management whose priority now is to continue double-digit growth in turnover. We are the leader, but in a very competitive environment.

Can you imagine Rueducommerce complementarities with the site, which Rally has just 8% of capital?

It is a very minority participation, without presence on the board of directors.

ALSO READ:

"The e-commerce growing CEO Casino

"Sales of the International Casino climb

Obama wants to "kick some butt"

The boss of BP is found in a weak position, particularly after the resounding declarations of Barack Obama. Asked by NBC, Bush pointed the finger at Tony Hayward about awkward. "It would not work for me after these statements," said Bush.We talk with these guys because they are potentially more able to tell me who to kick your ass.

Tony Hayward was heavily criticized after saying a week ago wanted to "get his life before" and the Gulf of Mexico was "a great ocean where the environmental impact of the disaster is very, very modest." Words that had caused such an outcry from the families of 11 victims who died in the explosion and for which he apologized on Facebook. 81% of Americans felt negatively the reaction of BP.

Obama worse than Bush

The position of Barack Obama is not the most comfortable vis-à-vis the American people cheap payday advance. A poll ABC News / Washington Post, 69% of respondents have a poor opinion of the management of the crisis the Obama administration.By comparison, 60% of Americans disapproved of the action of George Bush response to Hurricane Katrina in 2005.

Tony Hayward, who will be the only witness to a hearing entitled "The role of BP in the explosion of the drilling rig Deepwater Horizon and the oil spill, to answer questions from elected members of the Subcommittee on Oversight and Investigations of the House of Representatives.

Two months after the explosion

The hearing will take place almost two months after the explosion on April 20 of the platform which has killed 11 people and caused a huge oil spill in the Gulf of Mexico, affecting the fauna and flora in several states in the southern U.S. coast U.S. including Louisiana.

The head of BP America, Lamar McKay, had already been questioned by several committees of both houses of Congress in May.

ALSO READ:

"Oil slick: BP has spent $ 1.25 billion

"Oil slick: the funnel posed by BP seems to work

"Oil slick: Barack Obama puts more pressure on BP

"BP: the cost of the spill was" impossible to predict "

The capital increase of $ 21 million planned by Prudential to fund the acquisition of AIA, has also canceled. The abandonment of the proposed fundraising was announced at last night, a harbinger of the abandonment of the operation, confirmed a few hours overnight pay day loans. The failure of this acquisition is expected to cost 450 million pounds to Prudential, including 152.6 million pounds for breach of contract.

For its part, AIG believes it has "several options to consider about the AIA," In a letter to his employees, Robert Benmosche, CEO of the insurer, owned 80% by the State, in counts " more than we had in March. "

This decision represents a reversal. In 2007, when Euronext was to choose a partner from the U.S. NYSE and German Deutsche Borse, the group preferred the former because it does not recognize himself in the vertical integration model of the second. The trade of the stock market is indeed a value chain in three stages: the "place" where exchange transactions are carried out, the clearinghouse that records and transactions settlement. Euronext is an operator to date, business-focused transactions.In developing its own clearing houses, goes up the value chain.

This shift fits by NYSE Euronext in the times of political and strategic place in Paris where it argues for the existence of localized market infrastructures in the euro zone. However, compensation is dominated by LCH Clearnet and by great American actors as DTCC. This business is also known to have an increasing role in securing the derivatives market: everywhere regulators are considering forcing a maximum of derivative transactions to go through clearing houses, thereby reducing the counterparty risk of potential systemic transactions.

Another reason, however, pushes NYSE Euronext to expand its field of activity.While its historical business transaction is fierce price competition from entering the competition at alternative platforms in Europe, the conditions are much less harsh on the job of clearing. In short, the incumbent, shaken by the loss of its monopoly, will seek margins where they still exist …