"It does not happen much on the markets, who are eagerly awaiting the unemployment figures of the United States, says it in the rooms. Is a very important day. Nobody wants to get new paris before this indicator. Investors prefer to wait and see what is the recovery. "He added: "If the numbers are bad, I think the markets will fall heavily and not only Friday, but next week."

Pending the U.S. unemployment

Despite a slight decline as unexpected new listings weekly unemployment across the Atlantic on Thursday, the Labor Department is expected to announce this afternoon an increase in unemployment to 9.6%."The GDP is not growing fast enough to create hundreds of thousands of new jobs needed each month to reduce employment at its level before the crisis," said Christina Romer Thursday, who will leave at the end of the week his position as economic advisor of President Barack Obama.

Also across the Atlantic in 16 hours, the ISM index of activity in services for the month of August and a speech from Fed chairman in Atlanta, Dennis Lockhart on current economic conditions are also scheduled .

For the euro area, will be published in Composite PMI and Services for the month of August (10:00) and retail sales for the month of July (11:00) no fax payday loans.

The meeting will be much calmer on the microeconomic front, in the absence of publications, the wave of results for this quarter coming to an end the Paris Bourse.

Values follow

Investors monitor the value of France Telecom, however. The chief operator, Stéphane Richard, told Reuters on Thursday on the sidelines of the MEDEF Summer University he was confident in the outcome of discussions with Canal + on the fusion of TV Orange Cinema Series and TPS Star. It will also try to convince the government not to raise VAT on offers "triple play".

Air France plans to create a structure "low cost" for medium-haul routes, especially between Orly and the province to counter the offensive of the British low cost airline EasyJet.

The Slovak government has decided to retire to a consortium led by Bouygues a road construction project of $ 3.3 billion through a public-private partnership announced Thursday, Slovak Minister of Transport, Jan Figel.

Venezuela will pay approximately $ 600 million (468 million euros) in Casino and other shareholders of the supermarket chain Exito nationalized in January, said Thursday in President Hugo Chavez.

Vinci said on Thursday the acquisition by its subsidiary of Vinci Park UK Meteor Parking which achieves annual turnover of approximately 50 million pounds (60 million euros), enabling it to become number four in the sector United Kingdom.

LVMH: A court decision is expected this Friday on an appeal by eBay, convicted in 2008 for dissemination and distribution of counterfeit perfume off approved.

Sponsorship, ticketing, derivatives are all growth drivers for which France is lagging behind its European neighbors. "The Italian model is télédépendant, the Spanish club works with the assessment of the socios, the English clubs is very balanced between TV rights and ticket sales, such as German clubs who comes close," says Vincent warmShe, expert in sports department of Ineum Consulting.The French clubs, meanwhile, have historically focused their efforts on the sporting side, including the purchase or sale of players. However, the basis of any economic model in football is to have a stadium that can generate other revenue. "

Meanwhile Euro 2016

Several clubs are advancing on this issue in particular to the organization of Euro 2016. 1.7 billion euros were invested in the construction of four stadiums (Lille, Lyon, Nice and Bordeaux) and the renovation of eight (Paris, Lens, Toulouse, Saint-Etienne, Nancy, Saint-Denis, Strasbourg and Marseille ). 61% of this amount will be financed by the private sector. According to a study published by the specialist sports marketing and sponsorship, Sportfive, these renovations will generate 183 million euros in additional revenue annually for the French professional clubs."Unlike 1998, when two thirds of the total amount had been invested in the Stade de France for Euro 2016, the sum will be invested in various stages of Ligue 1. This does not mean that it will be 2016 to see the return on investment of this event, but probably two or three years, "said Vincent warmShe.

Meanwhile, an increase in revenue, French clubs are left to wish for a better management of expenditure of Spanish clubs, English or Italian. Hence the idea of financial fair play, which will be implemented in two years. They also hope the state will reduce their tax burdens. In vain. The French clubs will happen for example the exemption of 30% due to the image rights group.

"An alarming situation"

Less revenue, and therefore, if financial fair play will be implemented, less cost for French football.Our business model is in danger? "I do not think, but he went through a difficult period. Moreover, the French football is currently adapting its business model, but the process starts up slowly, because, unlike their European counterparts, most French clubs do not own their stadium and have yet to facing some opposition at the local level, "he says. Frederic Thiriez, the president of the Professional Football League, usually optimistic, yet cowardly: "The situation is alarming.And even if the net loss of French football is closer to the individual losses of some clubs in English or Spanish, by themselves superior to our deficit, and that the French clubs' debt of 140 million euros compared to three billion accumulated debt of Spanish clubs or four billion of English football. "

Germany as an example

It is understood that football is above all a show. And to provide the best entertainment club must both retain its best players and other hand acquire new just as good. But this model is viable only if the team acquires shares in question, particularly in Europe. However, no French club has won the European Cup from Marseille and PSG in the 90s … "The example shows that Tottenham can generate a lot of money without being European frequently.Again, the problem "stage" is paramount. In England, it was perfectly resolved. This does not prevent that some English clubs have suffered the brunt of the crisis. It would not surprise me that the German football compete more seriously come to English football in two or three years. It generates more revenue from commercial and brings more people into the stadiums. Rest TV rights, "said Vincent warmShe.

Anyway, it is time that the French clubs are considering setting up a new business model, less dependent on television rights, which could also decrease with the possible withdrawal of Orange, and linked to other stadium revenue by a real living. "There is no miracle solution, concludes an expert. We must proceed gradually on each file (stadiums, financial fair play, sponsorship, taxation …)».The organization of Euro 2016 with the construction of new stadiums that will be a turning point.

But the final minutes of the meeting were heckled. In the end, the CAC 40 nonetheless grabbed 0.72% to 3475.03 points. In London, the FTSE fell back 0.9% to 5155 points.

The European markets have relied on the surge on Wall Street Wednesday, but also on redemptions cheap. The NYSE has erased its losses late in the session to close up 0.2%.A technical rebound which was conducted in a context of bad macro news (sales of new homes in July after falling sales in the former, smaller increase than expected orders for durable goods). The Paris markets will also be comforted by Asia which has borrowed the same road this morning as Wall Street.

Side currencies, the euro remains strong against the dollar. One euro is worth 1.2717 dollars (0.51%).

The Paris markets have also reacted to the small decline in unemployment in France in July, fell after the market closes Wednesday. More importantly, they welcomed the battery results fell before the opening.

Accor flies, Gemalto tumbles

Wednesday, L'Oreal (3.88% to 78.71 euros, the biggest increase CAC 40) has announced an operating profit up sharply in the first half and higher expectations.This performance allows the number one global cosmetics find a level of operating margin similar to the record first half of 2008.

After his former branch of service Edenred, Accor issued this morning. The group announced a net loss for the first half of 64 million euros against a loss of 236 million a year earlier. Despite very conservative outlook, the stock market welcomed the performance: Accor shares took 2nd place in the ACC with an increase of 3.66% to 24.36 euros.

Credit Agricole has reported a net profit of 379 million euros in the second quarter, well above the 280 million expected by the markets. Net revenue reached 5.469 billion euros and the cost of risk fell by 13%.Again, the stock appreciates: the titles are among the highest increases with a jump of 2.63% to 10.16 euros.

L'Oreal and Total (0.05% to 36.99 euros), major shareholders of Sanofi-Aventis (+0.13% at 44.66 euros) would otherwise be reserved on the proposed acquisition of Genzyme, fearing that French pharmaceutical group pays its target too expensive, said Wednesday the banking sources told Reuters.

Bureau Veritas (2.68% to 46.6 euros) announced adjusted net income Group share up 8.9% to 149.5 million euros in the first half. Turnover was up 1.5% to 1.349 billion euros.The group aims to increase its sales in the second half of the order of 10% and expects a "slight increase" in operating margin over the full year 2010 on the current scope.

Gemalto has reported net earnings fell to 63 million euros in the first half and sales of 840 million euros, up 5%. The group said banking on accelerated growth in the second half, with a turnover of over one billion euros over the period. The title has sold 3.19% to 28.51 euros.

BioAlliance Pharma (3.18% to 6.16 euros) has received European agencies agreed in principle on the filing in mid-2011 the registration dossier of the drug against herpes labialis. The laboratory recorded a strong increase in its turnover in the first half and a net positive.

Bongrain, Lagardère, Stallergenes Etam and publish after the market closes.

After biting the nose in the first hour of trading, the benchmark index of Wall Street still has erased much of its losses. At closing, it fell by 0.56% to 10,213.62 points. The S & P 500 fold, from 0.37% to its 1071.69 points. While the Nasdaq managed to regain the green, scrounge 0.04% to 2179.76 points.

U.S. stocks have relapsed this week, especially Thursday and Friday amid renewed fears of further slowdown in activity, even recession.

"There is an internal struggle within the market right now, between the flow of economic indicators is rather disappointing for 48 hours and the balancing force that represents the multiplication of impressive announcements of mergers and acquisitions," noted Craig Peckham, Jefferies ."The market tries to anticipate a downward revision to corporate profits, which has not yet taken place, added the analyst.

Thursday night the U.S. stock markets were sharply accused the coup after the publication of bad numbers, especially on the employment front. In fact, new listings weekly unemployment rose by 12,000 for up to 500,000, while economists had forecast a drop instead. This setback has undermined all European stock exchanges, down nearly 2% on Thursday evening. The stock, Wall Street head, are more worried about the U.S. recovery is becoming increasingly threatened, yesterday, two other macroeconomic indicators have further disappointing disappointment consecutive ill-digit unemployment in the industrial activity Philadelphia region has not improved as the markets would have liked.The composite index of leading indicators the Conference Board is certainly left in timid increase, but suggests "a very slow recovery until the end of the year."

The earnings season gives way to mergers and acquisitions …

On the corporate side, while all the companies in the Dow Jones have now released their quarterly earnings, mergers and acquisitions also certainly inspire markets.But if they reassure investors about the health of businesses able to play cash on the table, they can not counter the extreme distrust aroused by signs of a growing number of weak U.S. recovery.

GAP (2.48% to 18.15 dollars) is reaping the fruits of this Friday's announcement the day before the quarterly earnings above expectations, thanks to the rebound in sales recorded by its brands Banana Republic and Old Navy.

PT (-0.86% to 40.42 dollars) and Dell (0.11% to 12.05 dollars) will be closed on the ball quarterly results.HP has shone with a quarterly profit up 6%, and Dell has not been left behind, with sales and earnings above expectations for the second quarter and expects a continued recovery in demand professionals for PCs in the coming quarters.

The world leader in microprocessors, Intel, announced on Thursday that he offered the world's number two computer security, Mc Afee (-0.07% after 57% yesterday), $ 7.6 billion .

While the hostile bid from BHP Billiton (-0.97% to 66.70 U.S. dollars) Potash (-0.75% to 147.72 dollars) continues to make waves on the Stock Exchange (Fitch Ratings has put on hold BHP Billiton), the offensive yesterday from Dell, the German publisher of software Wirecard rose Friday on the Frankfurt Stock Exchange after the entry by traders of a possible interest of Visa for the company.The title Wirecard advanced 2.05% to 8.71 euros while the action Visa German Stock Exchange fell by 0.35% to 55.69 euros. Visa back on Friday from 0.39% to 71.35 dollars.

Boeing (-0.59% to 64.24 dollars). The United States announced Thursday that they were using, like the European Union a month earlier, the ruling in June by the World Trade Organization (WTO) in the dispute over public funding for the aircraft manufacturer Airbus. It was also learned that Thai Airways talks with Boeing and EADS for 30 aircraft

Tuesday, ACC 40a consolidated amid stalled on Wall Street. The index closed slightly down from 0.12% to 3747.51 points, close to 3750 points. On Wednesday, the index future pointing down on the CAC 40, which is expected to decline from 0.31% to 3734 points in the opening gong.

In Asia, Tokyo reclusive sharply while export values are still penalized by one yen rise against the U.S. dollar.

On Wednesday, the macroeconomic news might still punctuate the markets.In the euro area, 10 hours, attention is paid to the services PMI for July and composite (2nd estimate) and above 11 hours, on retail sales in June

Overseas, the ADP employment figures in the private sector in July will be well attended in the financial world, at 14.30. Then at 16 hours, the ISM index of activity in services should lead the market. Finally, at 16:30, the traditional weekly crude oil stocks are known. All these figures of importance, so that on Tuesday, the statistics on consumer spending and incomes of households were poorer than expected.

Société Générale and Axa have published

As for values, investors have been informed by stock-half-year results of Societe Generale. Net income was more than tripled to 1.084 billion euros in the second quarter.Economists expected a doubling. Moreover, its Greek subsidiary Geniki announced a widening its net loss in the first half, the economic difficulties the country promoting the proliferation of bad loans.

Axa has posted a net profit in the first half down 29% to 944 million euros. It mieuw than expected and operating income, which excludes special items, spring, him, down 3%.

Suez Environment, a specialist in water management and waste, noted Wednesday its growth forecast for the full year 2010, after posting interim results up sharply.Jean-Louis Chaussade, CEO of number two French water treatment and industrial waste, says his group's performance in the first half.

Bic Sopra and Iliad also publish pre-market.

Maurel & Prom: 68% of first half sales

Energy. Departments of Ecology and Economy announced Tuesday that the government planned to increase to 15 August electricity rates by 3% on average for households and 4% to 5.5% for businesses.

Maurel & Prom said on Tuesday sales up 68% in the first half of 2010, helped by the rise in production fields in Gabon and in particular the development of production fields and Omgw OMBG . Note that the oil companies are particularly sought after in recent sessions.The oil was indeed installed comfortably beyond 80 dollars.

Vilmorin published Tuesday a consolidated turnover in 2009-2010 increased by 6.2%, supported by his vegetable business. The fourth seed has confirmed global forecast fiscal year 2009-2010 ended June 30, "a good performance of its margins," despite the increased "significantly" from its investment in research.

Teleperformance announced Tuesday for the first half rose 3.9% in sales on a reported basis, down to a 2.6% decline in comparable, indicating that the positive impact of its restructuring plan on the second play part of the year.

At Roissy, ADP plans to completely renovate the terminal 2B to $ 90 million over the next five years to operate the satellite terminal 2E S4 in the third quarter of 2012. The renovation of a satellite terminal should also continue.

The group also wants to complete the connection between terminals 2A and 2C in the second quarter of 2012 and the terminal 2F adapt to accommodate a full traffic to and from the Schengen area. At Orly, the halls 3 and 4 should also be reconfigured by 2015.

Measuring the satisfaction of passengers

ADP focuses on "quality of service and improved customer satisfaction." Ten indicators are established to assess the satisfaction of passengers, including cleanliness, signage and information, but also the availability of equipment in the terminals.

Finally, EPA sets a maximum annual increase of airport charges at 1.38% above inflation.

The group has also confirmed a reduction of 2% per annum of its workforce between 2011 and 2015.

Around 14:30, as the EPA has one of the finest performances of the CAC 40: it rose from 4.40% to 56.47 euros on a market down by 0.39%.

The announced $ 35 nonetheless remains entirely at the cost of the final product, but at the cost of all its parts. What remains still far from the $ 235 materials included in the first iPad, according to estimates from iSuppli. To reach this amount, the Indian teams have bet on free software and a more conventional design.The Indian touch pad will have 2 GB of memory, Wi-Fi and USB ports. It will have video conferencing capabilities, will be able to read most common office formats, PDFs and video, and of course surf the Internet. An optional solar charging was also discussed. In parallel, broadband will be installed in all the 22,000 Indian colleges.

"Our response to the computer to $ 100"

With this initiative, the Indian government seeks to empower the world's most modern educational No checking account payday advance. The literacy rate in the country remains 63% below those of other developing countries. But the achievement also sounds like a technological challenge launched in the United States.The Indian shelf was designed by a group of academics, after that IT groups have shown little enthusiasm for such a project. "This is our response to the $ 100 computer at MIT (Massachusetts Institute of Technology), launched by the Minister Kapil Sibal said, referring to the U.S. initiative" One Laptop per Child ", whose price has finally doubled because of difficulties of large-scale production.

With this initiative, India does not want to experience the same disappointments. Kapil Sibal assures that the tablet is already "real and tangible. India is currently negotiating with several subcontractors to begin mass production. One million computers should be produced during the first phase of launch. The deployment will begin in the universities, before being extended to primary and secondary.The government could finance the purchase of computers by 50%. Ultimately, the goal is to reduce the cost only ten dollars.

The video presentation of the tablet:

On the foreign exchange market, the euro dropped sharply against the dollar Tuesday, weighed down by the lowering of the sovereign rating of Portugal in the ratings agency Moody's, which relaunched the concerns about the fiscal health of the member countries of the euro area .

On the side of macroeconomic indicators, the U.S. Department of Commerce must publish the figures for trade balance in May while the Treasury will unveil the state of the U.S. budget.

Publications for

On the side of values, Alcoa started the ball rolling quarterly results yesterday after the close of the NYSE. The group returned in the green in the second quarter, with net income of $ 136 million, against a loss of $ 454 million a year earlier, and expressed "great prospects".For a year, Alcoa had recorded one quarter in the green, in summer 2009, but the whole of 2009 was marked by a heavy loss to the tune of $ 1.15 billion .

Always on the side of values, the burst of U.S. results will continue this week with the technology companies Google, Advanced Micro Devices or Intel and banks JPMorgan and Bank of America. Citigroup and General Electric will unveil their findings Friday.

Also note, a hedge fund, the fund Cambridge, filed a complaint against Morgan Stanley, Goldman Sachs and ten other banks in the hope of recovering lost $ 1.2 billion in securities backed by mortgages subprime .

The internet group Google on Monday launched a new tool, "App Inventor", which should allow all users to create their own applications

The group will remove the center of Marseilles (25 posts), Pantin (149), Rennes (194) and Tours (51). In four cities, where two centers exist, they will be merged, with the result at Le Mans 41 positions eliminated, 169 Lyons, 71 and 61 in Orleans in Toulouse. Finally, the site of Bordeaux will be cut by 69 positions. Teleperformance be explained today "structural overcapacity" and puts forward an operating loss of 36 million euros in 2009 in France for a turnover of 300 million.The group attributes this poor performance by "a slowdown in demand for its key markets" and "the loss of significant commercial contracts during 2009.

A social plan for 585 positions had already been applied to the company in France in 2009 and had been strongly challenged by unions in the courts, which had delayed its implementation for several months. This new plan is not a surprise. Teleperformance, which has six subsidiaries in France, decided in 2009 to merge. "They wanted to go too fast last year in the merger, where the resistance of employees. Result, management has been changed.But we continue to fight, "said Eric Dufaud, delegate of the union SUD.

Relocation

"I put everything from scratch with the intention of returning to profitability and secure a future for the industry of call centers in France," said Jean-Herve early June Jenn, new president of the group since April. Its purpose is to provide value-added services, refining and expanding the range of services offered to justify the higher prices in France and abroad. A call center agent costs about 30 euros an hour in France, against 15 euro in Tunisia.

All call centers have an offshore development center, because their large customers have one obsession: to lower prices. Teleperformance is so well established in Tunisia, are among the largest private employers in the country.He also opened last year a call center in Morocco and plans to accelerate the movement. "If the principals do not respond or if the government does not legislate, it's the call center industry is likely to go abroad," says Eric Dufaud.

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"Teleperformancereste cautious for 2009

But the revolt against the old promise of Jacques Chirac, applied from 1 July 2009 thanks to the activism of Nicolas Sarkozy, also scolded the Assembly. Without naming the VAT on food, the general rapporteur for the Budget, Gilles Carrez (UMP), has questioned "a number of consumer items that are 5.5% and that should not be at 5.5 %. He advocates instead an intermediate rate to 12%.

Since the introduction of the measure for the restoration, the context is not the same.The government, which has hitherto led a recovery policy, had to change tack in recent months under pressure from the markets. It is now to reduce the deficit. Especially in the planing tax loopholes.

Nevertheless, the statements and Gilles Carrez Baroin were poorly received by restaurants. "It's absolutely outrageous to say that the 5.5% VAT tax is a niche!" Reacts Philippe Villalon, president of the National Federation of the restoration (FNRF). "We buy our products and we sell 5,5% to 5.5%. As is the case for all areas of the mouth.Moreover, if we repeat the policies they want to end VAT at 5.5%, we should not translate that we lower our prices, nor that we hired, as the state would break its part of contract. "

During the implementation of the measure, the restorers had promised to lower prices, to invest and hire. These commitments, which would take over in case of cancellation of VAT at 5.5%, would have been more or less respected. The Court of Auditors estimated last October that the measure would involve only 6,000 new jobs. The profession claims to the contrary today promised 21,700 against 20,000 a year.