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The left won Sunday for the first time under the Fifth Republic by an absolute majority by winning the 25 extra seats it needed, seven months before the presidential election in France. View from the Senate at the Palais du Luxembourg

The left won 265 Sunday in September 2011 a historic victory in Senate elections by toggling the Second Chamber of Parliament in his camp, for the first time of the Fifth Republic, causing a political upheaval in seven months of présidentiellme. "For the first time, the Senate knows alternating" said the boss very moved senators PS, Jean-Pierre Bel. While all the results were not yet arrived, he announced that the left had "175 senators, that is to say beyond the majority". "The change is underway," he added.François Hollande, a candidate for the PS primary, leading in the polls, saw "a breakdown of the system Sarkozy", "prescient" in 2012.

As in the day, the results are severe for the majority who have fallen. The Minister of the City, Maurice Leroy, beaten, won an eighth seat on the left in Paris where the UMP holds only two senators. A gain of one seat to the left in the President's own Department of the Senate UMP Gérard Larcher. Loiret, Isère, Nord, Pas de Calais, Hauts-de-Seine, Val de Marne, Oise, Manche, Pyrénées Orientales … the list of departments where the left rose grows signing a very strong push for the opposition. "More than two senators UMP in Paris is a historical and political defeat," he triumphed Anne Hidalgo, Deputy PS first mayor of Paris, Bertrand Delanoe.Pierre Charon, suspended from the UMP to dissent and still elected, made a triumphant arrival in the Senate.

Progresses across the left

The re-election in the first round in the Loiret department traditionally right out of Senator Jean-Pierre Sueur and that, in the Morbihan, the outgoing Herviaux Odette, also PS, gave the signal for the win at midday . In the wake of victory in the Pyrenees-Orientale President of the Regional Council of Languedoc-Roussillon, "frêchiste" Christian Bourquin confirmed the trend.This is "a historical progression to the left and an unquestionable sanction for the UMP," said the PS first secretary of Acting, Harlem Désir, came to the Senate shortly after the primary candidate for the PS and Martine Aubry that of François Hollande.

This victory is particularly favorable for the latter, a large majority of senators voted for PS having the member of Corrèze. Has lost the right departments since it held almost always as the Lozere. "The left is progressing everywhere, you feel a groundswell," assured of Public Sénat, the Socialist Party national secretary in charge of elections, Christopher Borgel. It is a defeat all the more important that there is "a denial of the right of the electors," added Michel Delebarre, Mayor of Dunkirk and PS top of the list in the North where the left won a seat and missed the sixth to one vote.Gérard Longuet ministers (Defence) and Chantal Jouanno (Sport) were elected.

At seven months of the presidential defeat sounds like a very bad signal to President Nicolas Sarkozy. Saturday will be the election of the President of the Senate and a majority of the left should result in a leftist president. Catherine Tasca should try his luck against Jean-Pierre Bel, which theoretically should succeed the perch to Mr. Larcher. The left Sunday's success to his victories in recent local elections (municipal, regional, cantonal). The right wing has suffered from its strong divisions and strong discontent of local officials, who have unwelcome territorial reform and consolidation of Commons forced march led by the prefects.

Representatives of small and medium sized French companies remain alert to changes in credit conditions, they warned Tuesday after a meeting with banks Tuesday to the Ministry of Economy.

The fear of a credit crunch, a danger often referred to as the English "credit crunch" has increased in recent days against a backdrop of falling bank stocks on the stock market and worsening crisis of sovereign debt.

"We are very vigilant," he told Reuters Etienne Bernard, chairman of SOHO-SME-ETI MEDEF, the French employers' organization first.

"In early September, we find, by clear feedback from the field, as banks ask lots of questions" for entrepreneurs, including their need or not unused credit lines, he added. "This questioning creates some anxiety."

Indicators presented by the Bank of France show a healthy distribution of credit, at least until July. But more recent data are not yet available.

"An annual growth of credit to SMEs beyond 4.8% was recorded in July," the Ministry of Economy in a statement."During this period, compared with the rest of the euro area, growth in credit to all businesses in France is much more dynamic (+4.5% against +1.6%)."

At the meeting, the Secretary of State for Small Business, "Frederic Lefebvre asked the representatives of banks to the financing of small and micro businesses a top priority," the statement said.

French Banking Federation (FBF) has ensured that banks were heavily involved with businesses.

"French banks have confirmed that they were doing their outreach, especially for SOHO / SME, a priority.They are determined to continue to provide funding for the economy as they have always done, "says the FBF in a statement.

The professional craft Union (UPA) has meanwhile welcomed the government intervention "to prevent a drying up of credit in small amounts."

She said in a statement that "loans of small amounts, often less than 25,000 euros, are the fuel companies."

"Remove that access to credit would sacrifice many companies on the altar of the crisis. A suicidal act when we know that crafts and local shops are among the sectors that have best weathered the crisis of 2008 and who saved many jobs, "continues the UPA.

The British advertising group Aegis is confident about its future after announcing strong organic growth in the first half and confirmed an annual perspective is now reserved.

The group, which in July sold its market research arm Synovate to French Ipsos for 525 million pounds (595 million), recorded organic growth of its turnover by 7.3% driven by strong performances, particularly in North America.

The major advertising groups showed solid performance in 2010 and 2011, as companies, providing most of the time their advertising budgets on an annual basis, continued to invest despite the turbulence in financial markets to protect their market share .

However, WPP and Publicis competitors have both warned that the year 2012 could prove more elusive.

Aegis has maintained an organic growth target for 2011 at least equivalent to 5.8% observed in 2010 and also provides for improved operating margins.

The sale of Synovate, which should ultimately bring 505 million pounds according to analysts, will also be fastened to the end of September, said the group, which plans to donate 200 million pounds to shareholders.

"In the medium term visibility is still relatively limited because the macroeconomic uncertainty remains," said general manager Jerry Buhlmann group."However, we remain positive for the future of Aegis, to be more concentrated (on its core business), especially with regard to the strength of our activities over the past 18 months."

The title gained 2.14% to 0830 GMT, valuing the company at about 1.8 billion pounds.

Gold surpassed the 1771 Tuesday dollars an ounce and the price of the metal end now exceeds that of platinum, traditionally higher because of its rarity.

On the spot market, gold has gained more than 3% on the previous day.This is his twelfth record high in 20 sessions.

The gold will record after record with the surge of risk aversion of the past two weeks in the financial markets, exacerbated since the weekend by the loss of "triple A" of the United States.

It is favored by investors as other safe haven – Swiss franc, yen and Treasuries – while global equity markets drop.

"Markets are worried now have a new global recession (…) I think everyone has also led to the fall 7% S & P 500 (-6.66% Monday on Wall Street, Ed)" , said Natalie Robertson, commodities strategist at ANZ.

"Gold is now more expensive than platinum and the last time this happened was in December 2008.It's an interesting dynamic. "

At 9:35, an ounce of gold was trading around 1,745 dollars.

The agreement on raising the U.S. debt ceiling was adopted Monday by the House of Representatives by 269 votes against 161 and will now be considered by the Senate.

The compromise negotiated in extremis by the Republicans and Democrats and announced Sunday evening by President Barack Obama plans to reduce the U.S. deficit of 2.400 billion in 10 years and should allow the world's largest economy to avoid being in default payment.

The Senate should vote to turn in the day Tuesday, the day the U.S. Treasury warned that it would no longer be able to pay bills unless an agreement.

Harry Reid, leader of the Democratic majority in the Senate, announced that the vote would take place at noon (1600 GMT).The text must obtain the votes of at least 60 of the 100 senators, he said.

If senators mimic representatives, the U.S. debt ceiling, currently set at 14,300 billion will be raised and the United States will escape a situation of default, which would have had any impact on the global economic system.

In the hours before the vote in the House, uncertainty still hangs over the attitude of the parliamentary basis, both right and left.

In the ranks of the Republican Party majority in the House of Representatives, elected officials close to the Tea Party had raised objections to the compromise negotiated over the weekend in Washington.

In the ranks of the Democratic Party, the left wing complained that the text does not provide immediate tax increases for the wealthiest households and corporations.

"We are very concerned that the text is to make all these cuts but does not include any contribution of the richest people of our country, no income. It's disconcerting," said Nancy Pelosi, Democratic minority leader of the House, before rallying in the final compromise.

Monday night, 174 Republicans voted in favor of the agreement, against 66 who opposed it. The group has divided Democrats, voting for 95 elected, 95 elected voting against.

The image tarnished the political class

With the vote of the representatives, a first hurdle has been crossed.But concerns remain about a possible deterioration in the sovereign rating of the United States, the Triple A allowing them to obtain financing at favorable rates.

If the world's largest economy was losing the "signature" would increase credit costs in the United States and threaten the fragile economic recovery, with implications for the global economy.

The compromise provides for drastic reductions in public spending over ten years but does not affect taxation.It also creates a bipartisan parliamentary committee responsible for defining the end of November a new plan to reduce the federal deficit.

The Congressional Budget Office (CBO), non-partisan, confirmed that the compromise would reduce the deficit of at least 2100 billion over ten years.

On a political level, hard to say who should win this long and tortuous process.

Barack Obama, who is running in a second term in November 2012, accepted cuts in public spending of a magnitude greater than what he wanted and will have to convince the electorate as he had left no other choice.

However, the Democratic president could garner points among moderate voters and "independent".

"This process was long and messy and, as with any compromise, the outcome is far from satisfactory," he said in a video message released by his campaign. "But he also launched an important debate on how we address the challenges that lie ahead."

Right, John Boehner, the chairman of the House of Representatives, won the cuts he sought and avoided an immediate increase in taxes. But it could emerge from this crisis with a tarnished image, that of a leader under the influence of too sharp Tea Party, the conservative movement that has developed in recent years on the fringes of the Republican Party.

"The process works.It may be ugly, but it works, "Boehner said after the vote.

Finally, the American political establishment as a whole could suffer from these weeks of negotiations, that public opinion could be interpreted as political maneuvering at a time when Washington expects it effective remedies to boost growth and reduce unemployment, which remains at over 9% of the workforce.

"The real loser in this exercise is Washington," said Scott Reed, Republican elections.

EADS confirmed Friday its objectives, driven by the commercial success of its subsidiary Airbus which he now expected more than 1,000 gross orders this year.

The European Group on Aerospace and Defense, Airbus' parent company, reiterated a target for 2011 growth in turnover and operating profit (EBIT) before special items compared to the stable level of 1.3 billion euros 2010, again on the basis of one euro to 1.35 dollar.

In the second quarter, EADS generated adjusted EBIT of 371 million euros in the second quarter, net profit of 121 million and a turnover of 12.082 million.

Analysts on average expected for the second quarter an adjusted EBIT of 317 million euros, a net profit of 160 million and a turnover of 11.598 million, according to the Thomson Reuters consensus I / B / E / S.

Airbus reached an adjusted EBIT of 87 million euros and a turnover of 8.299 million, respectively, against 144 million and 7.986 million expected.

The French debt will be increased by about 15 billion euros by 2014 due to the implementation of the plan of aid to Greece reached Thursday night, said Friday Prime Minister Francois Fillon.

This increase in debt could undermine the government's objective to begin to reduce the debt ratios of France from 2013.

"This will have an indirect effect is an increase by 2014 our debt levels, given the inclusion of guarantees, up to about 15 billion euros," said François Fillon to Following a meeting with parliamentarians of the majority.

The government expects public debt will continue to grow this year and next year (85.4% and 86.9% end 2011 end 2012) and begin to decline in 2013 to reach 86.4% at end 2013 and 84.8 % end of 2014.

The leaders of the euro area have developed a new plan Thursday to support involving the private sector and reforming drastically the stability fund to make an embryonic "European Monetary Fund."

Welcomed by the markets, the new Greek plan, a total of 109 billion euros, will be echoed by participating banks and European insurers, the amount could go up to 50 billion euros.

NO BANKRUPTCY OF STATE

"This agreement marks an absolutely decisive in the history of the euro area," said François Fillon."There will be no state of bankruptcy in the euro area, because the solidarity of the euro area will be complete.."

The "golden rule" would entrench the need to reduce deficits in the French Constitution is now more than ever, still says the head of government.

"It is indeed now a joint effort of the countries in the euro area to adopt this budget framework must be credible leads," he said.

France has pledged to reduce its public deficit below 3% of GDP in 2013 but believes it must include the balance of state finances in a basic document.

If this "golden rule" was passed by the majority, it must, to be enshrined in the Constitution, getting three-fifths of the vote in a Congress, which requires adherence to some of the parliamentary left.

The Socialist Party refuses for the moment and Nicolas Sarkozy has not officially taken the decision to convene the Congress but the majority, Francois Fillon at the head, pushed him to move forward.

For the Prime Minister, France played a "central role" in the conclusion of the agreement, including by reaching before the summit in Brussels an agreement with Germany.

"The Franco-German duo has once again played a key role in finding the right solutions to the crisis.I guess you could say that the Franco-German couple is the key to stability in the euro area, "he said.

Scandinavian telecommunications group Tele2 has released Wednesday a net profit slightly above expectations for the second quarter.

The EBITDA (EBITDA) rose to 2.7 billion Swedish kronor (293 million euros) over the three months April, May and June

Consensus means established by Reuters was 2.6 billion crowns.

Tele2 has raised its targets for its activities in Russia, where he now has to increase its EBITDA margin to 38-40%, against a previous target of 36-39%.

Rival TeliaSonera, the Scandinavian telecommunications leader, has also published the results slightly above expectations and maintained its objectives.

The EBITDA before special items rose to 9.1 billion kronor (988 million), against an average wait of 9.0 billion and 9.2 billion the previous year.

TeliaSonera plans for this year increased its net sales by approximately 3% in local currencies, and also banking on a gross operating margin higher than in 2010.

The excellent quarterly results announced by Google on Thursday night carried the Nasdaq on Friday and allowed him to achieve the highest increase in three major indexes on Wall Street.

However, the persistent paralysis on raising the ceiling of U.S. debt weighed on the markets, and may cool further investors next week.

The increases came Friday to bring a breath of fresh air to American values, but do not prevent the indices finished the week on weekly declines.

The Dow Jones closed up 0.34% or 42.61 points at 12,479.73 and the S & P 500 ended with a gain of 0.56% or 7.27 points at 1316.14 .

Driven by Google, the Nasdaq was awarded 0.98% (27.13 points) to 2789.80.

These increases over the day do not erase the losses of the week. Since Monday, the Dow has sold 1.4%, the S & P 500 2% and the Nasdaq 2.4%.

The publication Thursday of figures after the close of the second quarter Google had immediately pushed up the title in after-hours trading.

The trend continued Friday: Google's value has appreciated by 12.98% to 597.62 dollars, reaching a session high of 600.25 dollars on.

The better than expected results of stress tests conducted on 90 European banks have also helped support the U.S. markets.Only eight schools have failed these assessments, so that was expected to fifteen.

Values ​​related to energy and new technologies have led the session, clinching their sector indices respectively 2.34% and 1.55%.

Citigroup said Friday in progress and the results exceeded expectations, but finished down 1.64% to 38.38 dollars after having evolved into positive territory in early trading.

The Paris Bourse pauses at the opening Friday after significant progress in the four previous meetings in favor of easing fears about the financial situation of Greece.

At 9:30, the CAC 40 index gave up 0.24% to 3972.48 points after ending the day for the first time since May 30, above its moving average 50 days, then at 3941.89 points .Since the beginning of the week, the benchmark index of the Paris wins again about 5%.

As for values, Renault and Peugeot lose respectively 1.24% (biggest drop in the CAC 40) and 1.1%, declining from 12.6% in June sales of new cars in France feeding on profit taking the automotive sector.

CGG Veritas shows the largest decrease in the SBF 120, with a decline of 3.39% to 24.54 euros, hurt by Goldman Sachs's decision to withdraw the value of its Pan-Europe Buy List (list of values ​​pan-European deals, purchase) and to lower its recommendation to neutral.

Other major European markets are also falling, London and Frankfurt declined by 0.12% and 0.24%.Of the European indices, the EuroStoxx 50 and yields 0.2% Eurofirst 300 lost 0.17%.

The euro edged up 0.2% against the greenback at 1.4523 dollar.

A barrel of U.S. light crude was down 0.78% to 94.68 dollars.