The leaders of the Greek political parties, who complete their negotiations on forming a unity government, agreed Tuesday to name former Vice-President of the European Central Bank (ECB), Lucas Papademos, 64 at its head, according to a source close to the ruling Socialist Party. "Negotiations are being finalized with Papademos as Prime Minister. They discuss the final details, "the source said.

In the afternoon, the Greek government ministers had submitted their resignation at the request of George Papandreou, who, during an extraordinary cabinet meeting, said goodbye to his staff.

Negotiations behind the scenes

Behind the scenes, negotiations continued Tuesday for the second consecutive day between George Papandreou and the leader of the Conservative opposition Antonis Samaras to reach an agreement on power sharing and the appointment of a consensus prime minister. Sunday, the socialists of PASOK George Papandreou and the main opposition New Democracy had agreed to make way for a unity government after intense negotiations. George Papandreou was also committed to leaving office after two years in power.

For its part, the European Union on Monday called on Greece to write a letter committing to the implementation of the European rescue plan.

Between optimism and caution, the Paris Bourse is expected to open slightly lower on Monday morning. The futures on the CAC 40 is due in November returned to 8:30: down by 0.34%, they portend an early trading mixed.

The debt crisis in the euro zone continues to focus the attention of international markets, including Italy, whose financial situation was at the heart of the G20 discussions. Last night, the two main political parties in Greece have announced an agreement to form a national unity government which will not attend the current Prime Minister George Papandreou. An agreement aimed at ending the political crisis that shook the country on a background of project, aborted referendum on the European Support concluded October 27.The hotel is also in advanced negotiations for the buy out its Indian partner Geojit Financial Services in a joint venture institutional brokerage, according to two sources familiar with the matter cited by Reuters.

According to La Tribune, Crédit Agricole is expected to announce during November job cuts, mainly in its branch banking and investment (CA CIB).

France Telecom: according to banking sources, the proposed sale of Orange Switzerland, a subsidiary of telecom, receives funding of around one billion euros arranged by the seller. The sale could be completed before the end of the year.

By organizing a eG8 the eve of the G8 in Deauville last May, Nicolas Sarkozy has brought the Internet for the first time, among the concerns of leaders. In line with their statement. Now we must find the tools for an Internet "free, open to all." To do this, Eric Besson, Minister of Industry, Energy and Digital Economy, today organized a seminar in Paris bringing together 13 Ministers of the Intergovernmental digital from around the world.

Innovation and Networks, protection of privacy, digital divide, security against cyber attacks are on the agenda of the conference New World 2.0. However, "there will be no statement after the conference, because there is already the declaration of Deauville, Le Figaro said Eric Besson. I wanted to spend New World 2.0 principles into action. It is time to materialize. "

Participants include, among others, Elliot Schrage, head of public policy for Facebook, David Drummond, Senior Vice President in charge of development of Google and Stéphane Richard, CEO of France Telecom, and Neelie Kroes, Vice President of the European Commission , in charge of the digital agenda. "This is progress as concretely as possible. These are issues that must be discussed together. New World 2.0 will bring together participants from 18 countries from five continents and all walks of life: ministers, large companies, startups, bloggers, venture capitalists, civil society, "explains Eric Besson cash advance today.

Value of content

The question remains networks at the heart of the debate. "There would not have the current development of the Internet without investing heavily in networks. In addition, we are only at the beginning of the increased use of networks.This raises the question of standards, quality of networks and investments, "says the minister. Before continuing, "On networks, we also work with the Americans. We do not want to trap them. What is the value of networks that are circulating over the contents. Our goal is to involve all major players. Thus we are able to be in the same round table number 2 on Google and the boss of France Telecom. "

If no resolution is produced at the end of this seminar, we must also rely on the goodwill of the United States, who will take over the presidency of the G8, to wedge the next go digital . "The event was to bring Internet to the agenda of the G8. And the highlight today is to bring together so many Internet stakeholders to implement together the principles of Deauville, "said Eric Besson.

Coface is concerned about the effects of the financial crisis on the real economy. Noting a decline in the strength of companies, credit insurance company, which today unveiled its new assessment is lowering its ratings for the euro area and the United States.

"The outstanding, which had indeed declined after the peak record in mid-2009, increased 12% worldwide in the first half of 2011," says chief economist Yves Zlotowski. Peripheral countries in the euro area are the most vulnerable, with an increase of 28% in Greece, Italy 29% and 71% in Portugal. "In this country, it is less sovereign risk worries that the business impact of the recession, austerity measures, the credit crunch and lack of growth opportunities," said the Chief Economist.

Another weak link, Italy (rated A4) which is found as Portugal (A4) on negative watch.The economy suffers from structural weaknesses of businesses, which will be aggravated by the economic slowdown. Degraded by one notch, Greece (note C) brings in its wake Cyprus (note B), due to the high exposure of its banks and a very high private debt no faxing pay day loans.

Other countries in the euro area – Germany, Austria, Belgium, France and the Netherlands – retain their A2 rating but lose the positive watch, as the United States.

Crisis of confidence

Overall, the two sides of the Atlantic are suffering the same problems.In downturn, linked to debt reduction of economic agents, combined with the crisis of confidence reflected in market volatility, the distrust of banks holding back access to credit, and political obstacles, among the psychodrama of the debt was U.S. and European delay in resolving the case of Greece and strengthen the euro area.

"We need a credible institutional scenario on European and safeguards," notes Yves Zlotowski, is said, however, confident. "There have been major advances in Greece, the role of the ECB, the EFSF …."

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After a lull last week, financial markets have plunged sharply Monday. Concerned about the lack of strong commitment of European finance ministers to support Greece, this weekend, and surprised by the tensions between Europe and the United States, investors are more likely to feel inevitable a lack of Athens. In Paris the CAC 40 index fell 3% while the German Dax gave up 2.83%. Again, it is the banks that were hardest attack.

The declaration on Sunday night on TF1, former IMF Managing Director Dominique Strauss-Kahn, for whom "we must accept to recognize that we must take his loss" of Greece was the effect of bomb."Hearing that DSK four months ago the IMF also urged new funding for Greece say the exact opposite now shows how events have turned," says Bruno Cavalier, chief economist at Oddo Securities. For the latter, there is a "real tired of the financial markets who want to wipe the slate clean once and for all to get back on firmer footing."

A feeling evident in a survey by Barclays Capital from major global investors. They are 24% think that the current crisis will lead to a breakup of the euro area. Over 60% of them believe that the European Financial Stability Fund (EFSF) will be insufficient to resolve the debt crisis.Although little scientific significance, such polls show the amount of work to be done now to reassure the magnitude of the crisis.

Bercy wants to reassure

France, Monday it is used by the voice of its Minister of Economy Baroin for which a default of Greece "is not a working hypothesis." At Bercy we stick to the same line of defense when all European countries have adopted the plan of July 21, that is to say by mid-October, the bleeding will be stopped.Reasoning that is opposed to that of economists who say a failure Greek is becoming increasingly economically rational, "If they want to avoid a failure of control, the Troika and the European Union in particular have an incentive to relieve pressure on the objectives short-term budget of Athens by insisting on the implementation of structural reforms to boost potential growth in Greece, "say economists at Morgan Stanley free business cards.

Rather than a sudden failure, we must consider a debt restructuring in the short term, implying a lower repayment installments provided for in the coming months to ease the Greek public finances.The major risk of such a scenario is a contagion to other peripheral countries "can be avoided if the ECB goes on the front lines and discourage speculation against the Italian debt by buying heavily," said Bruno Cavalier.

Creditors on deck

In this climate of growing skepticism, Greece somehow continues the implementation of the agreement of July 21, which passes through the participation of private creditors. Artisans of the device designed to reshape 192 billion euros of Greek claims STRIPS to complete the offer in October. "This operation can not be done in a snap. It is very complex technically and supports many constraints, "insists Fabrice Faure-Dauphin, a partner with law firm Allen & Overy, the Board of the operation.And insist: "If Greece were to miss a deadline, it does not fundamentally change the rules and would not offer more solutions to the problem."

The only good news, the first signals of the voluntary contribution of banks and other insurers are quite positive. While Greece requires a 90% interest in the exchange, some suggested a rate of 75% or 80%, almost unexpected. At these levels, the operation would have every opportunity to move forward. "A contribution of 85% instead of 90% needs to find an additional 8.5 billion euros," analysts calculate Barclays Capital.If Athens was a survey of creditors, the real success of the operation will not be known until after the formal offer proposal issued by the Greek government.

Athens without a loan repayment expected before December, this still leaves him time for both to continue its negotiations with the Troika and to carry out – or not – this massive debt restructuring for its crucial public finances. Meanwhile, the markets do not.

Indeed, the U.S. agency Moody's would lower a notch notes BNP Paribas and Credit Agricole and two notches that of Societe Generale because of their exhibits to Greece. It must be said that these institutions have recently been pounded by investors. Since the beginning of the year, BNP Paribas, Credit Agricole and Societe Generale have lost between a "large" third and 60% of their value. On the first day of September, the losses of the three titles are respectively 17.45%, 22.33% and 27.69%.

BNP Paribas, the largest tumble CAC 40 ended on a fall of 12.35% to 26.12 euros. Societe Generale lost 10.75% to 15.57 euros. Yet the group announced Monday a plan of economy, a strong acceleration of asset sales of its portfolio and spread of new capital increase, according to a statement. Lastly, Crédit Agricole lost 4.82% to 10.64 euros.

Axa was down 9.73% to 8.48 euros and 6.23% to loose Natixis 2.25 euros.

A lack of concern Greece

In an attempt to reassure the markets, Michel Barnier, reiterated in late morning the "confidence" in the strength of European banks. "We need some keep their calm and composure," said European Commissioner for Financial Markets on the sidelines of a symposium on the new stock markets plummeting.

In fact, the concern is more and more about Greece. Until recently considered taboo, the prospect of failure now seems taken seriously. This Saturday, the German newspaper Der Spiegel, said Berlin was preparing for the possibility of bankruptcy of Athens, information denied by the Greek Minister of Finance.

In this context, Greece has promised two billion euros in additional savings.Welcoming the decisions of economy, the European Commission announced that donors of the country gathered in a Troika-Commission European Central Bank-International Monetary Fund would carry out their return to the country "in the coming days."

Finally the markets, concerned about the economic slowdown in the U.S. and Europe have not been reassured by the meeting of finance ministers and central bank governors of the G7, for lack of action.In fact, only a response of "strong" and "coordinated" to the crisis was discussed in the hearing closed, but without specifying a strategy.

To a deterioration of banks

United States, Barack Obama on Monday will submit to Congress the plan to revive the economy and employment announced Thursday.

In Italy, the government will explore new austerity measures this week said Giulio Tremonti, Minister of Economy. This weekend, the prime minister Silvio Berlusconi boasted of having "saved Italy" with its austerity plan. Moreover, Rome issued on Monday 11.5 billion euros of bonds to three months to a year in which interest rates have soared in a panic on the markets, said the Bank of Italy. The rates of securities a year enrolled in 4.153% against 2.959% in the previous similar operation on August 10.The rate securities have them three months almost doubled to 1.907% against 1.034%.

On the macroeconomic front, leading indicators of the Organization for Economic Cooperation and Development (OECD) report a "slowdown" of the world's major economies.

The euro to its lowest level against the yen

On the foreign exchange market, the euro remained sharply lower against the greenback Monday, falling below $ 1.35 even briefly, due to another bout of market panic response to the crisis in Europe. End of the session in Paris, the single European currency was worth 1.3645 dollars against 1.3649 dollars on Friday night. Earlier, the euro fell to 1.3495 dollars, its lowest level since Feb. 16. The euro also fell to its lowest level in a decade against the yen. The euro bought 104.64 yen against 105.91 yen Friday.In the early morning, the euro fell to 103.90 yen, its lowest level since June 2001.

As for oil, it appears in sharp decline. On the New York Mercantile Exchange, a barrel of "light sweet crude" for October delivery was trading at 86.84 dollars, down 40 cents from Friday.

Values ​​of the day

• NYSE Euronext: -7.12% to 18 euros

The merger between Deutsche Boerse and NYSE Euronext will be endorsed by the European Commission, without major changes, officials said Friday, sources familiar with the matter.However, the European Commission will take action to force the markets to open.

• Air Liquide: -2.74% to 85.22 euros

The group of industrial and medical gases, Air Liquide announced Monday that it continued to bonds denominated in yuan, with the issuance of a second series for a total of 800 million yuan (about 100 million euros).

• Technip: -0.71% to 64.78 euros

The French engineering group has reached an agreement to acquire the entire share capital of the U.S. Global Industries, a specialist oil services submarines, to $ 1.07 billion (768 million) in cash.Technip will pay $ 8 per share Global Industries and the transaction amount includes net debt of $ 136 million, according to a French group.

• Delachaux: 2.61% to 81.77 euros

Trading in the action of the train manufacturer, suspended since Tuesday, resumed Monday. CVC Capital Fund and part of the family shareholders have filed a draft takeover Thursday simplified Delachaux at a price of 83 euros per share.

• Casino: -3.27% to 54.71 euros)

The French retailer Casino and its parent company announced Monday rally wearing their participation to 45.9% in CBD Pão de Açúcar (GPA), having acquired new shares of Brazilian group, the heart of a dispute between Casino and Crossroads this summer."This acquisition reaffirms the trust and commitment that rally, like Casino, place in Brazil and GPA," said Rally in a statement.

Note that the values ​​most dependent on economic conditions, including Saint Gobain (-5.48% to 28.71 euros), Alcatel Lucent (-5.05% to 2.20 euros) and ArcelorMittal (-3.38% to 12.58 euros) also suffer.

Safran, currently listed on the SBF 120, will make its debut on the CAC 40 on 19 September. The industrial and technology group, owned 30% by the state and 16% by its employees, replaces the bank Natixis in the most important indicator of the Paris Bourse. The announcement of the decision of the scientific evidence that fell Friday night to enter into force on September 16 at closing. The CAC 40 has not seen changes since September 2010, when Dexia (bank) and Lagardère (media) had been replaced by Natixis and Publicis (advertising).

The case for an entry Safran are numerous. The group was first sold 6.5 million treasury shares on the market late in July to increase its free float to more than 50%. Or the size of free float is one of the most important criteria observed by the Board for an introduction to the Cac 40.Capitalization criteria equally crucial $ 11.6 billion. Finally, the performance of the title are not negligible. The stock has gained more than 14% since August 26, while the SBF 120 index has returned just 5.6%. Since the beginning of the year, it grew by 5.4% when the SBF 120 index lost more than 12%. "There is a large consensus on this value. Safran is a great candidate, "pointed out shortly before the decision Emmanuel Besson, manager at Equity Management Ofi AM.

Suez Environnement does not leave the Cac 40

Suez Environnement was on the spot. The company, owned 35.8% by GDF-Suez and 7.2% by Groupe Bruxelles Lambert, certainly has a free float above 50% but its market capitalization of 5.88 billion, is among the lowest in the four Cac 40, with STMicroelectronics, Accor and Peugeot.In addition, the title was severely punished by investors: it shows a loss of 17.6% since the beginning of July, in line with the losses of the CAC (18% over the period).

But it Natixis, which has been designated to leave the Cac 40. It must be said that banking stocks have suffered heavily in recent weeks. The title is back in the index only a year ago and this decision "could create additional pressure on the banking at a time when we seek to appease," said Emmanuel Besson.

Before the verdict, Safran fell by 2.77% to 27.05 euros at the close, in a market down 3.59%. In turn, Natixis lost 4.57% to 2.71 euros.

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"Advantages and disadvantages of entering the CAC 40

"The profits of the CAC 40 companies up sharply

After playing in the red much of the session, the Paris Bourse rose in the green after a good figure on the activity in the industry in the United States. Then the enthusiasm has faded: to finish, the index ends, certainly on the rise – for the fourth session in a row – but she is shy (0.28% to 3265.83 points.

Having shown that wait-Thursday, and investors welcomed the announcement in mid-afternoon of a manufacturing sector still growing in August to the other side of the Altantic, while specialists' s expected to decline over the period. The announcement of a high relapse U.S. construction spending in July, reflecting the weak housing market has not dampened the optimism of the markets recovered this afternoon, somewhat reassured about the state the U.S. economy.Especially on the eve of the highly anticipated monthly employment report, the number of inscriptions hebdomadairres unemployed fell during the week to August 27, at 409,000 against 421,000 the previous week, said the Department of Labor (410 000 entries expected).

These new on the health of the U.S. economy and restore color to the dollar against the euro. To 17 hours, the European currency was worth 1.4263 dollars against 1.4374 dollars late Wednesday (-0.81%).

Indicators most disappointing in Europe

In the euro area, the final manufacturing PMI contracted in August for the first time since September 2009 due to a fall in output and new orders. The index calculated by Markit PMI final spring to 49.0 in August, against an initial estimate of 49.7 and after 50.4 in July.The German manufacturing sector slowed in August, including at its lowest in almost two years, to 50.9 after 52.0 in July. In France, the PMI industry has returned to 49.1 against 50.5 in July, an even sharper decline than that reflected by the flash estimate of 49.3 issued two weeks ago.

Also in France, the unemployment rate as defined in International Labour Office (ILO) decreased slightly by 0.1 points in the second quarter to 9.1% on average in metropolitan (9.6% including the departments of overseas), according to data seasonally adjusted (SA) Interim released Thursday by INSEE.

As for the oil markets, disappointing manufacturing indicator in Europe weigh on oil prices.At midday, a barrel of Brent North Sea crude for October delivery was trading at 114.04 dollars in London, down 81 cents from the close of Wednesday.

Values ​​to follow

Alcatel-Lucent

A pool of companies led by Alcatel-Lucent has been selected for the renovation and operation of computer networks and communications of the Air Force. The contract of 350 million spread over 16 years.

Banking

Greek debt is out of control and the measures taken by the government can not restore the finances, the report of an independent parliamentary commission on Wednesday. After suffering the first part of the meeting, the bank, however, have included: Société Générale advance of 1.65% to 54.37 euros, Natixis climbed 1.94% to 2.84 euros.But Crédit Agricole falling 2.08% to 6.67 euros and BNP Paribas down from 0.63% to 35.64 euros.

Peugeot: -0.98% to 21.12 euros, Renault: -1.22% to 27.99 euros, Michelin: -1.59% to 50.18 euros

The new car registrations were up 3.2% in August. But sales of SAP were down 3% and 1.4% of Renault.

Fimalac: + 7.36% to 26.26 euros

Fimalac accounted for more than 6% Thursday on the Paris Stock Exchange after the announcement of the sale of its Canadian subsidiary Algorithmics, specializing in software for the financial industry, the U.S. IBM.

Eramet: – 1.21% to 147.20 euros

The CEO of Eramet, Patrick Buffet, asked Thursday to New Caledonia guarantees the stability of capital and access to resources of nickel subsidiary of the archipelago, Société Le Nickel (SLN) cheap payday advance. Mr.Buffet made the requests in the renewal of the shareholders, linking Eramet-SLN since 2000 and the three provinces of New Caledonia.The latter hold through the STCPI 34% stake in SLN and 4% of Eramet.

Sanofi: 1.50% to 51.42 euros

The group reached an agreement with Pfizer to produce generic versions of Lipitor cholesterol before the star of the American group from falling into the public domain, writes Les Echos newspaper on Wednesday.

Total: 1.09% to 34.36 euros

The National Transitional Council (CNT) Libya has promised to give to France 35% of crude oil from Libya in exchange for recognition of its legitimacy Paris, Liberation reported Thursday.

Iliad: + 2.38% to 85.54 euros

The internet service provider reported in the first half of 231,000 new subscribers under its brand Free (excluding Alice), a market share of 36% and saw its EBITDA margin to improve by a , 4 point to 40%, or 416.4 million euros on sales of 1.04 billion (+2.6%).

France Telecom: + 1.43% to 13.349 euros

The U.S. administration has initiated legal proceedings Wednesday to block the sale of Deutsche Telekom's U.S. subsidiary T-Mobile to the giant AT & T for reasons of respect for competition.

Pernod Ricard: – 0.93% to 61.92 euros

The French producer of wines and spirits, announced Thursday a 10% increase in net profit for the year 2010-2011, exceeding for the first time the billion euros.

Eurazeo: – 1.07% to 39.23 euros

The investment company said Thursday in a loss of 106.3 million euros in the first half due to losses on derivatives and goodwill

GDF Suez: – 2.28% to 21.45 euros

The group said it had completed the acquisition of gas storage sites in Germany.

Eiffage: – 17.94% to 27.94 euros

The new CEO of the group does not preclude the sale or closure of loss-making subsidiaries to consolidate the early resumption of the performance of the construction group observed in the first half.

Saint-Gobain: 0.10% to 35.07 euros

The group announced it would invest $ 100 million (69.41 million euros) in the United States to create a factory specializing in the manufacture of ceramic balls ("proppants") used in wells oil and gas.

Latécoère confirms its objectives

Lagardère: – 11.11% to 21.16 euros

The group was forced to significantly revise down its forecast for operating profit for 2011 because of the difficulties encountered by the sports center in the first half.

Maurel et Prom: + 1.35% to 14.67 euros

The group took the first half of the increase in its oil production and high prices in oil prices to clear the results up sharply.

Guyenne et Gascogne: – 2.65% to 86.40 euros

The group reported a loss in the first half, the franchisee of Carrefour have been penalized by its subsidiary Sogara whose accounts were affected by several non-recurring items.

Latécoère: + 0.37% to 10.81 euros

The group, whose net income rebounded sharply during the first half, confirmed its targets for operating profit in 2011 and 2012.

Theolia: + 9.52% to 1.15 euros

The group reported Wednesday a recovery in its interim results, the French wind power has reduced its interest expense over the period, particularly through the conversion action of nearly two million of bonds.

After market, Neopost will publish its revenue for the second quarter and Stallergenes results for the first half.

Pequignet, a family company specializing in watches, is determined to win in the club of the great shows of the highest quality. It is in the basin watchmaker Mortlake, in the heart of the Jura, Emile Pequignet founded in 1973, the brand Pequignet EP. Soon, the French firm is in difficulties when the Japanese launched quartz watches. Their products much cheaper, are needed at the expense of traditional mechanical watches. It was not until the mid-1990s that the popularity of mechanical watches is reborn.

In 2004, Didier Leibundgut Pequignet back home, traditionally present on the market for luxury watches. With its new movement Calibre Royal, the brand acquired an international recognition. Based on a laboratory Pequignet was able to create from scratch the original movement consists of 318 pieces.After 5 years of work and 279 industrial plans, it is unveiled at Baselworld in 2009 and received the same year the prize for innovation awarded by the CGPME (General Confederation of Small and Medium Enterprises). Pequignet put all its business strategy on its flagship product. "Since the marketing of watches Calibre Royal in June, sales of Pequignet exploded," said D. Leibundgut. A marketing focused on the reliability, accuracy and aesthetics of this watch.

Calibre models proposed by Royal Pequignet are marketed around 5000 euros (9000 euros on average for a Rolex). This award is achieved by the originality of the movement: an initial stage where all functions other than the time display (indication of the day for example) are already included."This will produce a show in record time, thereby reducing production costs," says director Pequignet fast cash now. When complications are superimposed on additional plates, creating a watch requires a laborious process of adaptation, expensive and result in relatively random. "At this level of detail and complication, and at that price, Pequignet is unique in the market," says Lonza Alexandre, director of Maier, which includes three famous stores in the Lyon region.

Currently only 300 watches were produced Morteau since the release of Calibre Royal in May 2011, but total production is expected to reach 3000 hits by the end of the year and twice in 2012.An estimated 40,000 production units in five years.

"A French garden"

To achieve this goal, Didier Leibundgut, which currently employs twenty people, having to "hire fast enough and eight more in the future." Pequignet recently also became a training facility that will attract many watchmaking by offering a qualification, quality training and surrounded, as is the case, a young and creative team.

Lonza for Alexander, the house of Morteau "is able to compete, eventually, the leading brands of fine watchmaking." Already the Japanese recognize the quality of the product and have already called the movement "a French garden." "The Asian market looks promising," said Didier Leibundgut. The next exhibition in Basel, the factory will present his female model of the Royal Gauge.New, since the watches are traditionally women Pequignet quartz and produced in Switzerland.

The U.S. stock markets open again in the red on Wednesday. The Dow Jones was down 0.37% at 12,456 points, the Standard & Poor's 500 and Nasdaq fold, respectively, 0.58% to 1324 points, and 0.62% at 2822 points. Tuesday, Wall Street has already finished in the red.

Investors adopted a cautious approach since the beginning of the week. The inability of a handful of members of the United States to reach an agreement before Aug. 2 on raising the debt ceiling up the country into a situation more and more difficult.Specifically, the U.S. Treasury think after August 2, if the parliamentarians have not voted to increase the legal limit to the debt of the federal state, it will not be able to honor all its commitments.

As about 40% of its expenditures are financed by borrowing, the U.S. federal government will have to make drastic choices between payments made and those that push it off. This will mean the paralysis of some jurisdictions, uncertainty about the payment of social benefits, or payment terms to suppliers.

The new director of the International Monetary Fund, Christine Lagarde has called on Washington to "find a real solution." She also asked the Europeans to apply "quickly" the plan against the debt crisis.

Companies seem to want to continue to invest

On the foreign exchange market, the dollar is still abused.The euro, however, gives some ground in late morning at 1.4495 dollars against 1.4509 late Tuesday. Oil prices retreated Wednesday in the opening in New York, as a result of fears of increased oil reserves and the stalled negotiations on the U.S. budget. To 15 hours, on the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for September delivery was trading at 98.38 dollars, down 1.21 dollars compared to the previous day.

On the macroeconomic front, despite a weaker economic environment, companies seem to want to continue to invest. This is the signal that can be drawn numbers of orders for capital goods in the second quarter."It's rather good news and support for the fragile figure of GDP growth in the second quarter," notes Philippe Weachter, director of economic research at Natixis AM.

Weekly crude inventories are still waiting for this day before the release of the Beige Book Federal Reserve expected after the close of European stock.

Rain of business publications

The side of values, the American online distribution Amazon (5.47% to 225.90 dollars) has published better than expected results despite a decline of almost 8% of net profit for the second quarter, to 191 million. Based on the number of shares, the benefit amounts to 41 cents, above the 35 cents expected by analysts.Sales, up from 51% to 9.91 billion dollars, has also exceeded expectations.

The group of defense and aerospace Boeing (1.68% to 71.34 dollars) exceeded market expectations on Wednesday with earnings up 20% in the second quarter, driven by good numbers of its commercial aircraft, and it has raised its forecast.

The U.S. chemicals group Dow Chemical (2.26% to 36.66 dollars) recorded a net profit increase (73.4%) to $ 982 million, boosted by record sales in emerging markets, and said he was "optimistic" for the second half of the year.

The U.S. conglomerate General Electric (-1.34% to 18.31 dollars) ca waived divest its rental cars it had planned to sell earlier this year, said Tuesday a spokesman for the group.

Delta Air Lines (-4.13% to 7.69 dollars) recorded a decline in quarterly profit on fuel costs that exceeded the one billion dollars. Excluding items, earnings per share of the airline stood at $ 0.43 per share, against $ 0.44 expected by analysts.

Microprocessor giant Intel (-1.18% to 22.62 dollars) has announced the appointment of its Executive Director Andy Bryant as Vice President of the Board, before he takes the presidency in May 2012 Estate of Jane Shaw. Bryant has spent 30 years at Intel, including 13 years as CFO.He became executive director in 2007.

Electronic Arts (1.30% to 24.12 dollars), which has recently invested in the games available from smartphones and tablets, has reported a decline of 3% of its turnover for the first quarter of fiscal year 2011-2012 to $ 524 million against an average estimate of analysts of 511 million.During this period, the group recorded a loss of 123 million euros against a deficit of 78 million a year ago.

Disney (-0.79% to 40.19 dollars) said he had "taken the first steps" to increase its majority stake in the Indian company UTV, which could lead to delist the giant local media.

Also note, the retail giant Wal-Mart (-0.17% to 53.50 dollars), which ensures expand its online offering, announced Tuesday that it was now possible to watch movies without downloading its website.

Always on the side of the truck several values ​​of the dimension must publish their results including Conoco Phillips and Visa.