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McDonald's could have done this new scandal. Committed for 10 years in a campaign to improve its image and to defend the quality of its products, the giant U.S. fast food undergoes further attacks of his detractors. At issue this time, the treatment of chickens by a subcontractor of the group providing the eggs used in the preparation of McDonald's products. The title of the video is unequivocal: "McDonald's, the truth rotten egg McMuffin"

Made with a hidden camera and broadcast for the first time Friday on ABC, the video was shot by Mercy for Animals Association (Pity for animals) in a poultry farm in Minnesota "Sparbo Egg Farms" .

Financial markets remain grounded arms vis-à-vis Italy. The announcement of the imminent resignation of Silvio Berlusconi yesterday was greeted with great relief on all European markets. It allows to hope for the establishment of a government more able to put public finances in Italy.

Analysts saw in recent weeks that the Italian bond market suffered from a premium of distrust Berlusconi estimated at 100 basis points (1 percentage point) on the rates of government bonds to 10 years. Not surprisingly, the announcement of his impending departure should have been welcomed by a substantial amount of rates.

"The euro is a rock against the crisis. "This declaration of Gylfi Arnbjornsson, President of Iceland's largest union, released in turmoil in the euro area, out of place. "While a small floating national currency increases the flexibility and affects employees," he insists. Bryndis, she does not believe more in the EU and the euro area. "It does not work. The crown, however, allowed us to emerge quickly from the crisis, "said the young woman, who works in a bookstore, very committed to the sovereignty of his country. These two strong views illustrate the gap between pro-and anti-Europe.

Iceland began on June 27 last formal negotiations to enter the European Union. At the end, Icelanders will vote in a referendum.The challenge for the small island in the far north that is just three years of severe recession, is to join the single currency.

The debate in Reykjavik is far from settled, including the center-left coalition government, like the Minister of Economy Social Democratic supporter of the euro and its counterpart of Finance defends the virtues of the crown.

"The devaluation of over 40% has boosted the competitiveness of our exports. The gain exceeds the final cost. Unemployment would have been much worse, "says Green Minister Steingrimur Sigfusson. With two key economic sectors: aluminum and fishing account for 80% of exports. In this land swept by the waters and winds so imposing nature, the farm lobby and fishing make their voices heard. They reject the decisions of Brussels and its quotas.Yet, in fact, Iceland is already integrated into the European Union.

The case "Icesave" three years ago that poisons relations with Great Britain and the Netherlands also maintained Euroscepticism. The State has spent 15% of GDP to save its national banks but refused to compensate the foreign customers of the bank Icesave, bankruptcy. An early decision of the European Court of Justice could force Reykjavik to set the slate of 8 billion euros. "The bank Landsbanki has the means to repay by selling its assets revalued since the crisis," said the minister.

Indebtedness

Three years to regain control of the IMF, the economy drastically, radical restructuring of the banks have put the country on track for growth, helped by a crown devalued no faxing pay day loans.In the field, if the maintenance of a welfare state and the strength of social ties, related to the geography of the place and its small population, have reduced the impact, the crisis is far from over. Reflecting Hildigunnur Sverrisdottir, 35, architect, married with three children. "We are living a nightmare, every month, our debts pile up, we have no visibility and perspective," she confesses.

This family alone synthesizes all the symptoms of the crisis Iceland: Hidlig lost his job after the explosion of the housing bubble, the couple bought a house at full price. They chose a loan in foreign currency – yen, Swiss franc and euro – more attractive as deemed stable and offering lower interest rates. This not to mention local specificity to index mortgages on inflation, which reached its highest, 18%.Result, many Icelanders have seen the value of their loans soar. "In my generation, everyone has lost an average of 10 million crowns," says Hubert Koziet, who suffered a pay cut and an increase of one third of its credit.

Unable to repay their credit, Hidlig and her husband were offered a government program, reserved for owners 13 .500, which is to cap credit 110% of the value of the dwelling and convert crown. "We do not know what to do, we are still negotiating with our bank, we do not rule out leaving the country. Many of our friends, architect, engineer, accountant … went to Denmark and the United States. "

Counter the brain drain and attract new investment, are the future challenges for sustainable growth in Iceland. Because the economy remains crippled by capital controls and political instability.Ironically, today is not money that is lacking in the small island – banks are full of capital that the Icelanders and businesses could exfiltrer abroad – but it suffers from a lack of confidence in the future and the political elites.

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The contours of the nationalization of Dexia emerge. When Nicolas Sarkozy and Angela Merkel discussed the rescue of banks in the euro area in Berlin, Prime Minister François Fillon, his counterpart Yves Leterme and representatives of Luxembourg have them addressed this issue in a summit to looks like a marathon. And this morning, after a council of ministers, Belgium has decided to take control of 100% of Dexia Bank Belgium, the Belgian entity of the institution present in retail banking, with an investment of 4 billion euros. A price at the bottom of the valuation range expected by shareholders, who were betting on an amount of between 3 and 7.5 billion euros. The Belgian Finance Minister Didier Reynders believes that this amount is "reasonable."Belgium intends to remain for several years proprietor of the bank in order to "continuity" before the network to lean a private actor.

The board of directors supports the offer of Dexia in Brussels, saying it is part of the "social interest" group. It also ensures that the 600 employees of the Dexia holding will be reclassified to the various subsidiaries promised a recovery.

Meanwhile, states have agreed on the allocation of guarantees to make to the future "bad bank" that remain after the dismantling or the defeasance structure to isolate the assets at risk. "States have agreed to divide this guarantee in proportions similar to those of 2008 (during the rescue of Dexia), 60.5% for Belgium, 36.5% for France and 3% for Luxembourg," said the Belgian government.

For its part, the French state must create a new bank dedicated to communities, both owned by the Postal Bank and the Deposit CDC. The Board of Directors has appointed Dexia director Pierre Mariani to conduct these negotiations. His copy to a detailed plan of recovery of the industry is expected "in the coming weeks."

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The concern continues to dominate in Asia, where major stock markets were down on Tuesday. Shortly before 7 am (Paris time), the Nikkei yield 1.31% to 8433.27 points, the Hang Seng in Hong Kong 1.59% to 16,554 points and the Shanghai Composite Index 0.26% to 2359, 22 points. The South Korean Kospi falling 4.97% to 1681.82 points while the S & P200 was down 0.64 Australian% to 3872.10 points. The MSCI Asia Pacific for its yield 2.1%, the lowest since July 2009.

The day before, Asian stock markets had already declined, lead-talk statements of Greece announced that it would lack its fiscal targets.In the process, Europe had closed down, followed by Wall Street where the Dow Jones dropped 2.37% to 10.655 points and the Nasdaq 3.29% to 2336 points.

Monday evening, the finance ministers of the Eurogroup have pushed the "the month of October," a decision on a new tranche of EUR 8 billion, needed to Greece.Despite the announcement of new measures by Athens deficit, the markets fear more than ever a default of Greece.

Oil down and the yen at the highest for ten years

"In addition to the growing European concerns, there are also fears about the level of the yen and its impact on the results of Japanese companies," said Hiroichi Nishi, a broker at Nikko Securities SMBC fast payday loans.

Nippose currency, considered a "safe haven", is indeed at record levels: about 7 o'clock this morning, the euro bought 101.21 yen against 102.6 yen on Monday morning. During the day Monday, he even reached 100.96, yen, lowest in a decade. The dollar also declined against the Japanese currency to 76.59 yen against 77 yen on Monday morning. The rise of the yen penalizes income from Europe of Japanese exporting companies.

Oil markets, concerns about the global economy weigh on prices: a barrel of "light sweet crude" for delivery in November lost $ 1.11, to 76.50 dollars in early electronic trading. A barrel of Brent North Sea crude for November delivery gave up 92 cents to 100.79 dollars.

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Diversify its funding sources to reduce dependence on banks: this is the objective of local government, at a time when bank credit is becoming scarcer. Tuesday, associations of elected officials have announced the creation of "a funding agency of local investment," the model of what is happening in Northern Europe. This vehicle will issue bonds on financial markets. It then lends to local authorities, medium and long term. To access these loans, municipalities, counties and regions in question will make a capital contribution to the agency. In a way, it is to launch "Eurobonds" across local authorities – even if the project was launched in 2009, before the debates which agitate Europe on the financing of its sovereign debt.

"Investors want to invest in the debt of French local authorities, which is very safe.But they have few means to do so, since only large communities issue bonds. We offer a suitable vehicle, "said Olivier Landel, Chief Executive of the Association of urban communities in France. Communities will therefore be the primary beneficiaries.

In addition, the agency should issue bonds at a good price. Elected officials hope that, despite the absence of government guarantee, the agency will be rated triple A by virtue of the quality of local debt (the latter must have an operating budget in balance) and mechanisms of solidarity between its members. Above all, the agency lend to municipalities, departments and regions, at a rate just higher than its own cost of funds – but different depending on the risk profile of each community. Because unlike banks, it is not intended nor need to secure substantial profits."The structure is light, with just 70 people to run," insists Jacques Pélissard, President (UMP) of the Association of Mayors of France.

Shortage of bank credit

"We hope to pass the legislation before the end of the year for the agency operates end of 2012. We are confident because the government views with favor the initiative, "said Jacques Pélissard. The first year, the agency should raise 800 million to one billion euros, sixty communities. Ultimately, elected officials are hoping that a quarter of 20 billion of annual funding needs of the communities will be ensured through it.

"The evolution of credit conditions shows that the agency is essential," says Michel Destot, Mayor (PS) in Grenoble and president of the Association of Mayors of major cities in France. In fact, the problems get worse.Haute-Savoie, St. Gervais-les-Bains had to give up an investment due to lack of adequate bank credit. A survey of the AMF, the local sector banks have responded that in 30% of the total volume requested by the communities. Some German banks come to the rescue, but this is not enough. The problem is more acute than that of toxic loans, which represent only 7 billion on a debt of 160 billion community. The government plans to use the Deposit to remedy the lack of funds.

The rebound posted the day before continuing carefully. After closing the session in the green, with a gain of 1.87% to 2949.14% points, the CAC 40 index opened his session by small increase of 0.69% to 2969.46 points, in the wake of Wall Street and Asian stock markets. Investors cautiously welcomed the determination shown by German Chancellor Angela Merkel, French President Nicolas Sarkozy and Prime Minister of Greece George Papandreou during a conference call Wednesday night to Athens out of the crisis. Same upward trend in other European financial centers: the FTSE-100 wins from 0.67% to 5262.05 points, the FTSE Milan Mib rose 0.69% to 14,264 points and the Dax in Frankfurt rose by 0 , 87% to 5386.86 points.

For now, the markets show their confidence in the ability of the euro area to help Athens to prevent the country are lacking, and is forced out of the single currency. At the end of their conference, the Franco-German and was convinced "that the place of Greece is well and truly in the euro area." But on one condition, also very explicit: "The implementation of strict and effective recovery program of the Greek economy supported by the countries of the euro area and the IMF and which conditions the disbursement of future tranches of the program. "George Papandreou was quick to deceive, confirming" the absolute determination of his government to take all necessary measures to implement all commitments. "For the budget minister Valérie Pécresse, what the Prime Minister of Greece were "reassured" the euro area, she said on Thursday LCI.

The U.S. maintains pressure on Europe

To this, add the announcement of the Brics (Brazil, Russia, India, China and South Africa) said on Wednesday they could increase their holdings of bonds denominated in euros. Brazil has such willingness to participate in a "global effort" against the economic crisis that affects rich countries, said the same day the President of Brazil Dilma Rousseff. Meanwhile, Italy, whose rates have soared during bond, has denied media reports that she would have asked China to invest in debt.

U.S. side, however, no way to release the pressure on Europe.It "must do more" in the words of Timothy Geithner, U.S. Treasury Secretary, who must participate in a meeting Friday of finance ministers in Europe. In an interview Wednesday on the financial channel CNBC, he considers, however, that the Europeans "has the capacity" to resolve the crisis, seeing as a good thing that they "recognize that they are late."

Note that Christine Lagarde, Executive Director of the IMF, should give a speech in Washington on "Challenges and solutions for the global economy and the IMF" to 16 hours. While Ben Bernanke, the Fed chairman, should speak at a conference in Washington on the regulation of systemic risk in the early afternoon.

Oil prices continue to fall

On the macroeconomic front, figures on employment in the euro zone for the second quarter are expected, and inflation in August.

In France, the trade deficit is expected to reach 75 billion euros this year, a new sad record after the 56 billion euros recorded in 2008, says Les Echos.

For its part, Spain on Thursday to conduct a bond issue.

Finally, many figures are expected in the U.S., including inflation for the month of August, the current account balance in the second quarter, the weekly claims for unemployment and industrial production for the month of August .

On the foreign exchange market, the euro appears down 0.16% to 1.372 dollar on Thursday. In turn, oil prices continued to fall, after figures showing a decline in demand for refined products in the United States, and while the markets remain worried about the situation in the euro zone, analysts said.In early electronic trading, a barrel of "light sweet crude" for delivery in October lost 43 cents to 88.48 dollars per barrel of Brent North Sea crude for October delivery 53 cents to 111.87 dollars.

Values ​​to follow

• Banking

The banking sector, including Societe Generale (0.29% to 17.43 euros), BNP Paribas (1.04% to 27.18 euros) and Credit Agricole (1.80 to 5.31%) will be once again scrutinized by investors. The crisis became systemic, according to a document sent to the European Union finance ministers and obtained by Reuters, which also recommended a further strengthening of bank resources. In addition, two out of three French believe that the weakening of the banking sector related to the debt crisis could threaten their economies, according to a CSA poll released Wednesday to Les Echos.

• LVMH (1.25% to 113.20 euros)

The group announced Wednesday it had chosen Jordi Constans, come to Danone, to succeed Yves Carcelle at the head of Louis Vuitton in 2013.

• ArcelorMittal (2.68% to 13.23 euros)

The company promised to stop its steel plant in Florange (Moselle) would be temporary, said Wednesday the French government.

• Areva (2.04% to 21 euros)

The nuclear expert will present its strategic plan in early December through improved operational performance, an adjustment of investment and possible asset sales, said its president of dirctoire in an interview for Echoes.

• Publicis (0.56% to 30.66 euros)

The group announced Thursday the acquisition of 100% stake in a public relations agency in the United States, Schwartz Communications, which specializes in technology and health, for an undisclosed sum.

• Bouygues (0.53% to 24.86 euros)

Wednesday, Bouygues Construction, through the company Eirene, delivered the first 53 service centers and respond to the DIT (Directorate of transport infrastructure under the Ministry of Ecology, Sustainable Development, Transportation and housing), according to Reuters.Eirene now provides maintenance and management of these buildings for 28 years.

• Technip (0.76% to 67.89 euros)

The French group of Petroleum Engineering has won a contract for facilities ammonia-urea fertilizer in Port-Gentil (west of Gabon), from Gabon Fertilizers Company, said in a statement.

• Cellectis (6.02% to 5.99 euros)

The company will acquire the Swedish company Cellartis specialist tools for research and development in vitro derived stem cells, as part of a contract valuing the approximately 33.8 million.

• Hermes

The luxury group said that trading in its title would be suspended Thursday pending the decision of the Court of Appeal of Paris on the exemption granted by the AMF on the buyout of minority interests.

This is a severe blow to Samsung and a victory for Apple. This may well be a mere confirmation of a judicial decision made in August, the pill is no less bitter for the Korean manufacturer who is outright ban the marketing of its top shelf, the Galaxy Tab 10.1. It "presents an overall appearance similar" to that of the iPad, according to the German judge seized of the matter.

Such a decision is worrying Samsung that focused on this tablet to boost this market. It means that beyond the patents on technical issues, courts are increasingly sensitive to another argument, visible to the naked eye: the appearance of the product design.The German decision comes two weeks after a Dutch court has taken a similar decision, and while litigation between Samsung and Apple are in the United States, Korea and Australia, where the Apple brand has already achieved a first favorable ruling.

For now, Samsung is still able to sell the Galaxy Tab in other European countries, and do not hesitate to do much advertising best payday advance. The Court of Düsseldorf has finally found not competent to prohibit the marketing of the Galaxy Tab across Europe. Nothing prevents Apple to take legal or other countries. The U.S. has also filed a complaint against Samsung for the same reasons, September 8 in Japan.

This offensive against Samsung, which is otherwise also one of its major suppliers, enabling Apple to establish its supremacy on the market shelves, which he holds from 70 to 80% with both iPad.The Galaxy Tab 10.1 was seen as the most serious rival. By preventing the market, Apple terminated the debate … that takes a different turn on the Internet, with netizens concerned about the relentlessness of Apple, who made his reputation by being the anti hegemony of Microsoft, which builds on present its own hegemony with a lot of trial and eco closed system.

An uncompromising report. For over a year, dozens of officials, led by the Audit Office, analyzed the tax and social niches, as a result of a mission request François Fillon. "The total amount of tax expenditures and social niches weighs heavily on public finances. Their development can also affect the readability of the tax and benefit system, and the fair distribution of public office, "wrote the Prime Minister.