News – Business & Economi

Orders to U.S. industry rose for the second consecutive month in December, driven by increased business investment.

According to figures released Friday by the Commerce Department, orders for manufactured goods rose 1.1% in December.

Market economists polled by Reuters had expected, however, an average increase of 1.5%.

The November figure was however revised upwards and shows an increase of 2.2% instead of 1.8% initially announced.

Over the full year 2011, industrial orders rose 12.1%, against an increase of 12.9% in 2010. 

Excluding transportation, orders rose 0.6% in December after rising 0.5% (revised) in the previous month.

Orders for nondefense capital goods and aircraft, considered a barometer of morale of entrepreneurs and their investment plans, surged 3.1% after falling 1.5% in November.

In most cases, fast cash loans are credited to the borrower's account within 24 hours. Sometimes the time taken may be even less, depending on the amount of loan as well as the company which processes your application.

France will nominate Coeuré Benedict, number two in the Treasury, the Executive Board of the European Central Bank to replace Italy's Lorenzo Bini Smaghi. ECB

Benedict heart, which should become the representative of France to the Executive Board of the European Central Bank (ECB), is a senior specialist in international finance, who was previously the number two position of the Treasury. Coeuré Benedict, 42, was appointed Thursday by Paris to serve on the Executive Board of the ECB, which will replace Italy's Lorenzo Bini Smaghi, who resigned.

This brilliant economist and author of numerous articles and a graduate of Japan, has spent most of his career at the French Treasury. He led a parallel career as a teacher and researcher in the circle of economists, an influential economic think-tank. From 1997 to 2002, he holds the office of Chief Economic Adviser to the Treasury.Heart is a graduate of the Ecole Polytechnique and the Ecole National Statistical and Economic Administration (ENSAE).

Right in the debate on greater involvement of the European Central Bank (ECB) in the rescue of the euro, the institution claimed to have bought nearly 8 billion euros of bonds fragile last week against four, 5 billion the previous week. ECB

The European Central Bank (ECB) announced Monday that it bought nearly 8 billion euros of government bonds on the secondary market over a week against nearly 4.5 billion euros over the previous seven days. The total purchases of the ECB as part of this program, which began in May 2010 when the emergence of the Greek debt crisis, this is close to the threshold of 200 billion euros (194.5 billion euros).

The ECB never gives details of its operations, to know which country and how much it bought the debt.

Arnaud Montebourg is the arbiter of the final duel between Martine Aubry and Francois Hollande in the Socialist primary. It requires commitment of both candidates on his favorite themes: the de-globalization, the moralization of finance and the renovation of political institutions. Decryption. Arnaud Montebourg received 17.2% of the votes in the first round of the Socialist primary, Sunday, October 9.

He is the man most courted of the week. With over 17.2% of votes in the first round of the Socialist primary, Arnaud Montebourg can tip the vote of the electorate to the left in the second round, Sunday, Oct. 16, in favor of either Francois Hollande (39, 2% of the vote) or Martine Aubry (30.7%). The deputy of Saone-et-Loire is also raising the stakes: the champion of de-globalization conditioned its support for consideration by the two contenders of his campaign themes.He waits, before deciding to know the positions of mayor of Lille and the member for Corrèze on four themes: "industrial protectionism, financial control, the Fifth Republic and the fight against corruption," Does detailed it in an interview with Liberation. The ideas of Arnaud Montebourg can they find their place in the curricula of Martine Aubry and Francois Hollande? In part, yes.

The fight against corruption

Behind the term corruption, Arnaud Montebourg is of course the dirty business of French politics – the case Karachi, suitcases and of course Ziad Takieddine Guerin splashing the PS of the Bouches-du-Rhone, but also tax havens. The deputy of Saone-et-Loire wants to dismantle tax havens. To do this, he advocates a ban on transactions originating in or destined for the territories.He wants to force French companies have subsidiaries in tax havens to be closed and will repatriate "hidden money" in these territories. It also promises to "severely punish" evasion.

If they have not been a major theme of their campaign, Francois Hollande and Martine Aubry are widely separated positions Montebourg in this area. The two finalists in the primary would also like to strengthen the fight against tax havens. The project also calls for the PS to prohibit banking secrecy within the European Union.

Financial control

Throughout his campaign, Arnaud Montebourg has been the voice of the struggle against "financial chaos". He argues for "dirigiste measures and prohibition." He wants to dismantle such rating agencies and offers in return for establishing a European public rating agency.He also advocated the establishment of an authority markets at European level and the merger of European stock exchanges to avoid unnecessary competition. Montebourg also argues for a 0.1% tax on financial transactions European … being adopted in Europe For banks, the deputy of Saone-et-Loire wants to "put under trusteeship." This would, he said, with an entry "authoritarian" state to the board of financial institutions, with a veto. The first act of the state would force them to separate their banking and retail banking.

Martine Aubry and Francois Hollande agree to force banks to split their activities. However, they are less enthusiastic about the proposal to enter without consideration to their governing body. This can be done, according to two candidates, if the State recapitalize banks.The tax on financial transactions in Europe and the creation of a European public rating agency proposals are included in the proposed PS. No word, however, on a possible merger of the exchanges.

Industrial protectionism

It's his hobby: the "de-globalization" – even if it does not use that word in the letter he sent to Martine Aubry and Francois Hollande. Arnaud Montebourg advocates the introduction of a carbon tax outside the borders of the EU imported products reflect "fair carbon cost, health and social", coupled with a carbon tax "within the Union European "encourage" companies to change their ways of producing. "The deputy of Saone-et-Loire advocates also provide France with an anti-dumping: a mechanism for unilateral ban certain products to market (non-EU) "in case of aggression by trade unfairly low prices."

On this subject, Martine Aubry and Francois Hollande are more cautious. The mayor of Lille prefers to speak of "fair trade" and "globalization safer." Specifically, it supports the creation of a tax "social and environmental planning at the entrance" of the products manufactured outside the EU. François Hollande speaks for his "new rules" of world trade, negotiated with other European partners, with "taxation" or "entry ban" of certain products, particularly from China. But according to the member of Corrèze, protectionism and autarky are not adequate responses.He believes that restoring the competitiveness of lights and the establishment of a genuine industrial policy are the best weapons against the adverse effects of globalization.

The Sixth Republic

For ten years, Arnaud Montebourg defends a change of constitution. The Sixth Republic is calling for that allocate roles between "a president who will, a government with the fullness of his powers and a Parliament with enhanced supervisory powers including the opposition." It would be a strong focus on popular initiative referendum, would end the impunity of the head of the state and would prohibit multiple directorships.

Martine Aubry and Francois Hollande do not return to their account the change of Republic but are in favor of a "modernization of political life." The mayor of Lille is to prohibit multiple directorships.She wants to introduce more proportionate in the national and local elections. Francois Hollande said that he will "put the institutions on their feet" "with a president who presides over a government that governs, a parliament that legislates." PS The project also plans to set up popular referendums.

Finally, proposals for Arnaud Montebourg are certainly more radical but not so far removed from those of Martine Aubry and Francois Hollande. "Do not overestimate the differences between Arnaud Montebourg and the other candidates. Arnaud used a more aggressive tone, but it is not necessarily become global justice. The measures that are advocated in the socialist family," concludes Olivier Ferrand, president of Terra Nova, the think tank of the PS.

Barack Obama lashed out at banks, on Thursday at a press conference at the White House, justifying the growing popular discontent against economic inequality.

The Democratic president, including the possible re-election in November 2012 will be played primarily on the fight against unemployment, said the Republicans had in the first place, to support the economy back on measures of financial regulation that his government s is used to push hard.

Barack Obama also said understand the frustration of "outraged" that manifest several days on Wall Street and in other cities of the United States.

"These demonstrators expressed a more widely shared suspicion towards the way our financial system," said Bush.

"We still see some of those who acted irresponsibly fight efforts to end abusive practices," he added.

Barack Obama said his financial reform known as the "Dodd-Frank" was precisely designed to prevent abuses of Wall Street.His way to insist on the subject suggests that this issue will be among the major themes of his presidential campaign next year.

"To have a sound financial system requires that banks and other financial institutions to compete on the basis of better service, better products and the best rate," he said.

"We can compete through hidden fees, deceptive practices or cocktails of derivatives that nobody understands and that expose the entire economy at huge risk.That's why Dodd-Frank was designed. "

Barack Obama also expressed regret that U.S. banks have recently raised their commissions, suspecting a practice necessitated by the inability to raise other rates. This is not a "good practice", he said, and it is "not necessarily just for consumers."

The president of the AMF considers that the situation in the markets is "very, very worrying." He said a collapse of the entire global economic system is to be feared. Jean-Pierre Jouyet said that "it is not in a better situation than in 2008."

The chairman of the Financial Markets Authority (AMF) Jean-Pierre Jouyet spoke Friday of "situation, very, very worrying" in the markets and expressed concern of a "risk of systemic crisis" able to dive all the world into recession.

"We are in a State of Crisis" with "before us, the risk of systemic crisis", that is to say a collapse of the entire global economic system, noted Mr. Jouyet, questioned France Inter.This is due to "a very high debt in Japan", the "U.S. imbalances that are extremely deep despite recovery plans that do not give great result" and, in Europe, "the sovereign debt crisis," he said former Secretary of State for European Affairs.

"We need urgent action at the international level," he said, hoping that "the Europeans, Americans and the International Monetary Fund (IMF) will at least get to make a shared". "This is expected by the markets," he said, "is to see a little clearer." "We are in a situation of a crisis of debt in 2008 was characterized by a rise in private debt, which today is characterized by a rise in public debt, government deficits and imbalances in all the world economies, "he summarized."It turns out that Europe is the epicenter of this crisis." "We're not in a better situation than in 2008," he warned.

Jean-Pierre Jouyet also found that the introduction of a tax on financial transactions, to which he was in favor, could worsen the current liquidity crisis in the euro area. "I am in favor of a tax on financial transactions" but "we must choose when it is made." But "what I said – and I take into consideration in my work – is that today, it will further increase the reluctance of investors, including Anglo-Saxon and American, to respect to the euro area, "said the president of the AMF.

After Paris and Berlin were in favor of such a tax in August, the summit of the major developed and emerging countries of the G20 in Cannes (South of France) should address the issue in early November.Britain and the United States were opposed to establishing such a mechanism. A transaction tax, such as those popularized by the economist James Tobin, is to take a very small percentage of financial flows ..

The major European stock markets rose Tuesday in the red by late morning after the announcement of an unexpected decline in economic sentiment in the euro area in August.

Around 12:25, the CAC 40 index yields 0.21% to 3147.48 points after opening up. Since the beginning of the benchmark index of the Paris market lost more than 14%.

According to stakeholders, the shares continue to consolidate, in an atmosphere of caution after the shock of bearish early August.

"It is a market without enthusiasm, which is still afraid of a correction, market pure waiting, with U.S. unemployment figures Friday in focus," said Frederic Rozier, manager at Meeschaert Private.He sees a strong resistance to the CAC 40 index to 3,260 points.

Alexander the Drogoff, technical analyst at Aurel BGC, agrees that the market could resume its downtrend after a waiting period. He does not see the CAC 40 exceed 3,400 points, before a relapse to 2890 points and its lows of 2009 and 2003 around 2450.

Other major European markets, London, which was closed Monday, gaining 2.35% while Frankfurt lost 0.49% and 0.77% Milan.The pan-European Euro Stoxx 50 index was down 0.34%.

S & P: RECESSION CAN BE AVOIDED

In addition, Standard & Poor's lowered its economic growth forecasts for the eurozone to 1.7% for 2011 and 1.5% for 2012 and believes that a spin in a recession can be avoided, even if the risk s 'increase.

Bank stocks were among the first to turn around, the Stoxx sector in the euro area losing 0.64%. Societe Generale lost 1.7% and 1.1% Credit Agricole.An article in the Financial Times reports that according to the International Accounting Standards Board (IASB), the impairment recorded by some financial institutions on their Greek sovereign bonds were not large enough.

Mining stocks, however, remains strong, the index increased 3.5%, supported by the agreement between ArcelorMittal (0.28%), Peabody Energy and Macarthur Coal on the terms of the acquisition of specialist Australian coal sprayed.

In the bond market, the auction of government bonds in Italy this morning met with a relatively low demand, despite the purchase of the European Central Bank in recent weeks, creating nervousness.

For its part, the performance of the same maturity Bunds declined to 2.17%, 2.22% against the previous day.

The euro cup against the greenback at 1.4388 / 90 dollars, against 1.4513 the previous day in the afternoon.

A barrel of U.S. light crude dropped by 0.74% to 86.63 dollars and Brent from 0.21% to 111.64 dollars.

Failures and start-ups fell by 3.5% and 21% in the first half in France over the same period last year, Coface said on Monday.

The decrease is due creations, according to the credit insurer, for a lesser interest in the status of entrepreneur.

The number of failures has reached 32,655, a level that is far from the pre-crisis, when the failures did not exceed 30,000 a semester, said Coface.

Only five sectors are increasing the number of failures, including transportation (9%), food (7%) and distribution (5%). Pharmaceutical, energy and agriculture and fisheries recorded in contrast to declines of more than 20%.

The number of jobs threatened by bankruptcy decreases by 7% over the first half of 2010.The failure of a company threatened 3.3 jobs on average in late June against 3.5 in late 2010.

The half saw a decrease of 19.6% in the number of creations, with nearly 320,000 new entities created, including 21% for businesses, which represent 85% of all creations.

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.

The German Constitutional Court will decide in early September on the constitutionality of the contribution of Germany plans to help Europe to Greece, Ireland and Portugal, a decision that could limit the flexibility of Berlin in the management the debt crisis that has shaken the euro area.

The Court in Karlsruhe said in a statement it will make September 7 at 8:00 GMT its decision after examining three complaints filed in July by six Eurosceptics.

The plaintiffs, five German university and a member of the conservative party CSU, believe that the plans of aid granted to Greece, Ireland and Portugal with the support of Berlin violate the German Basic Law and the European treaties, in especially a provision that a State may not be bailing out by others ("no bail out clause").

Five of the complainants had already, in the 1990s, tried unsuccessfully to the German Constitutional Court to prevent the introduction of the single European currency.

The German government insists that the participation of Berlin to the rescue of the most indebted countries in the euro area was done legally.

"I am confident that the decision of the Constitutional Court will confirm that we have violated neither the Constitution nor the European treaties," he reiterated Saturday the German Finance Minister Wolfgang Schäuble.

Legal experts consider unlikely that the court in Karlsruhe decided to block German participation in the loans to countries in debt, but expect that judges impose conditions for granting new aid to states in the euro area.

The Court may require that such contributions to the Berlin European mechanism for financial stability – which will manage the bailout fund in 2013 – in the future are subject to a vote of the German parliament.

With the International Monetary Fund (IMF), the EU approved since last year of financial aid to Greece, Ireland and Portugal totaling 273 billion euros. Another plan decided to Athens last month provides some 109 billion euros in state aid.

Part of the German public opinion has recently offended by these bailouts, accusing its beneficiaries to have too long been living beyond their means.The current case in Karlsruhe gave German Chancellor Angela Merkel an argument over his hard line in managing the debt crisis in the euro area.

Germany has found it unnecessary to reinforce the existing European Financial Stability Fund and opposed the creation of Euro-bonds, while several European countries and financial markets increasing calls to create these bonds common to all the euro area.