International News

It was the next level to reach for gold. The 1500 dollars, a level ever recorded for the yellow metal, have been hit on Wednesday in Asian trading. At the Stock Exchange of Hong Kong specifically, an ounce of gold reached 1,500.70 dollars in the afternoon. This performance was predictable when reached 1,499.32 dollars an ounce the previous day in London. The pace of growth is dazzling but in less than a month, gold has made close to $ 53. March 24, the yellow metal was trading at 1447.82 dollars yet.

This acceleration reflects a broad movement of deferral of investors in risky assets to what they see as the ultimate safe haven. Gold is indeed a physical asset with intrinsic value is backed by any issuer. He is considered an effective barrier to escape threats currently facing inflationary in most economies.China announced last Friday that inflation rose to 5.4% in March. In Europe, inflation rises to 2.4% while in the U.S., it reached 0.5%.

Alert on debt

The surge in gold can also be explained by rising concerns over the sovereign debt of countries in the euro area. Rumors of the restructuring of debt of Greece sow confusion in the markets. In parallel, operators wonder if Portugal, which will launch an austerity measures, will overcome its difficulties. The degradation of the sovereign rating of Ireland only complicated the situation. Very worried investors finding more than in Finland, nationalists opposed to helping fragile countries, became the third force in the country.

More ominously, investors realize that even the world's largest economy is not immune.For the first time in its history, S & P has downgraded the debt of the United States. Monday, the day the ad crashing, gold has gained almost 10 dollars to 1496.50 dollars. The purchases were supported by a bout of dollar weakness which makes it even more attractive purchases of commodities, including gold.

For the rest, the next goal is the threshold of $ 1600. According to experts from research firm specializing in the GFMS gold, it will be reached and even exceeded by the end of the year.

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"SPECIAL – Now the race record

After Operation Oil cons food (Oil for Food) "designed not to starve the Iraqi people emerge from the Gulf war, Argentina has invented a new form, but lighter, clearing:" From Wine cons of Porsche. "

In Buenos Aires, the fight against the deficit of trade balance is in effect a special twist. The Government has authorized imports of Porsche country Fangio, obtaining in return compensation, dollar for dollar, the price of cars by the importer, the group Pulenta. To obtain satisfaction, this distributor is committed to export the same value in wine and olive oil as the hundreds of Porsche imported this year, about 5 payday loans.7 million.A real challenge, since the distributor will sell about 1 million bottles to meet the Argentine government.

All manufacturers of luxury cars are housed in the same boat: to sell his Audi in Argentina, the VW group is committed to export more cars manufactured in the country. As for BMW, whose cars are popular, the brand would consider implementing a motorcycle plant.

The call for EU aid is no longer a taboo subject for the Portuguese Government, as the tense political crisis in Lisbon. Finance Minister Fernando Teixeira dos Santos has clearly mentioned on the sidelines of the Eurogroup meeting on Monday in Brussels. "If we trigger a political crisis right now, it will create great difficulties for the country to enter the financial market and I think it poses a risk to our financial capacity," he warned.This crisis, he added, "actually helps to push the country into the arms of foreign aid."

Although this is surely a final attempt to pressure the opposition, accused of causing the crisis before a crucial vote on new austerity measures Wednesday in Parliament, the Portuguese government may have to accept the financial rescue plan that seeks to avoid for months.

In this standoff, the Socialist Prime Minister Jose Socrates, will all play their politics. To save his head, he is seeking the approval of members to its savings plan, the fourth in less than a year. The plan, which includes tax increases and cuts in social benefits, is highly unpopular, even if it saves time and the markets.

By national pride, Jose Socrates resists the offer of financial assistance from the EU and the IMF for weeks."It's politically very costly to surrender its sovereignty, we have seen with Ireland," says Jacques Cailloux, chief economist at Royal Bank of Scotland. Knowing that the government is facing a social discontent increasingly marked. On Saturday, thousands of Portuguese officials and private sector employees, beat the pavement against the policy of austerity, rising unemployment and job insecurity.

"Socially unjust"

Jose Socrates was tried on Monday, throughout the day to rally the party leaders to his cause. But he struck again with the adamant opposition leader Pedro Passos Coelho right center, which rejected "any negotiation with the government, denouncing a" socially unjust program "that affects" the most members vulnerable in society. "The leader of the PSD had abstained from previous votes austerity, saving twice as Socrates motions of censure tabled by the anti-liberal left.

But this time, "it's over," urged Pedro Passos Coelho, who has said this weekend in favor of outside help. Faced with political stalemate, the scenario of a European rescue, like that of Greece and Ireland, appears imminent. And more so that the financing conditions in the markets remain very difficult. The rates of ten-year bond rose again yesterday, against 7.262% 7.212% Friday. By June 15, Portugal must face debt maturities of over 9 billion euros.

"The problem is that the appetite for the Portuguese debt is gone. Investors have lost confidence, "added the economist.Anxious to reassure the markets and the European Commission, Pedro Passos Coelho particular favorite in the event of early legislative, reiterated his "unwavering support to a structural reform program aimed at fiscal consolidation, reducing debt and economic growth." Lisbon is committed to bringing the deficit to 4.6% of GDP in 2011, 3% in 2012 and 2% in 2013.

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The costs of fund management Safely dropped a point in five years, reaching 3% in 2010. "Unbeatable for 400 billion euros in benefits provided to 360 premium collected," Judge Dominique Libault, Director of Social Security. "A form of performance" made possible primarily by the online services that reduce the "paperwork" to be treated while improving service (Pajemploi, CESU, Vitale Ameli.fr or to name the best known examples).

These productivity gains allow a policy close to the non-replacement of retiring in two applied to the state: 10,000 job cuts and less in Medicare and another 4,000 planned, workforce stability despite the CFO care benefits for civil servants and RSA no fax cash advances… In the end, the number of general system-level income "from 1976, according to Peter Mayer, director of CNAV.Other projects are underway: Medicare Expands Sophia, escort service for diabetics, an experiment takes place to optimize the treatment pathway after maternity … The branch family, she launched the site in 2009 my-enfant.fr to seek care arrangement. "Families find all the host schools, child-minders in 70 departments and a cost calculator," said Herve Drouet, its director.

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A new falls ill for Dior, just days before the shows ready-to-Wear Fashion Week in Paris. The company decided to suspend his star designer's artistic director, pending completion of police investigation, launched after the attack he is accused. John Galliano was arrested Thursday night for "minor violence" and "anti-Semitic slurs" in central Paris before being released several hours later on the instructions of the prosecutor. It is the subject of two complaints.

According to PV investigators that Le Figaro had access, the designer would be taken away to a couple on the terrace of "The Pearl", a coffee of the Marais, about 21h.Without knowing the reasons which led him to pick on this couple and according to several witnesses, he – among others – insulted the young woman in English: "Dirty jewish face, You Should Be Dead" ("Dirty Jewish face, you should be dead! ") then it would be taken to his companion, aged 41 years and Asian receptionist:" Fucking bastard asian, i will kill you! "(" Fucking bastard Asia, I 'll kill you! "). Witnesses would then be interposed.

Quickly arrested by police, the British designer was then taken into custody at a police station in the 8th arrondissement of Paris. His BAC was positive with a rate of 1.1 mg of alcohol per liter of breath.

The designer responded with his counsel and "categorically denies the accusations of anti-Semitism attributed to him", told AFP Stéphane Zerbib.John Galliano is "not at all in this state of mind" and "be explained later," said Mr instant personal loans guaranteed. Zerbib, adding that the designer will "pursue those who reported such allegations." Friday night, the designer said he had filed a complaint for libel and slander. "We delivered three written statements to the police from the restaurant manager and two security guards of the restaurant ensuring that Mr. Galliano has never uttered anti-Semitic insult," said his lawyer.

Spotted by Bernard Arnault 93

To explain his quick decision to suspend its director of artistic investigation office, the house of Christian Dior, owned by luxury group LVMH, has put forward its "zero tolerance" towards any remarks and racist or anti-Semitic attitude.Last October, LVMH had been widely criticized for the time he had reacted after the controversy created by statements of Jean-Paul Guerlain.

At 50, John Galliano, who took the reins of creation for Dior in 1996, has emerged as one of the creators of the most inventive and flamboyant, drawing inspiration from history and his travels around the world.

Born in Gibraltar an English plumber and a Spanish mother, he trained at the prestigious St. Martin's School of Art in London. Set in Paris in 1993, he was spotted by the chairman of LVMH, Bernard Arnault who hired two years later as creative director of Givenchy, another claw world leader in luxury.

Since 1999 he has directed all heads of Dior's feminine lines and leather goods and the brand image.He drew alongside her own collections.

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The economic crisis might be generally complete, the stigmas are still widely felt. Witness the annual results of the European Investment Bank (EIB) published on Tuesday. The institution responsible for European development fund has lent 72 billion euros in 2010. A decline in sales compared to 79 billion given in 2009, but still very high compared to normal year loans by the EIB, rather close to 50 billion on average.

"The exceptional effort asked the EIB to support the European economy should be temporary, says Philip Maystadt, its president. This is the explanation of early return to normal volume of our loans. "Proof that this mission is completed, the bank expects to lend around 65 billion euros more in 2011.Also, 6 billion will be released between 2011 and 2013 in nine Mediterranean countries: Algeria, Tunisia, Morocco, Egypt, Jordan, Israel, Syria, Lebanon and the Palestinian territories.

Received, two on two! Wednesday after Portugal, Spain and Italy have passed their test in the financial markets Thursday. The only problem is that the two countries have conducted such operations in interest rates sharply higher: 4.542% for Spain (against 3.387% in the previous issue) and 3.67% for Italy ( against 3.24%).

As a result, the CAC 40 moved closer still just over 4,000 points at 3974.83 points exactly. The index in Paris Will it ended the week by breaking the psychological barrier? It would take an increase in the CAC 40 0.63% reach the milestone. Nothing is less certain, after Wall Street finished Thursday down slightly disappointed by the increase in weekly jobless claims.

And especially after the International Monetary Fund (IMF) has urged caution after the success of these bond issues.The IMF considers that Europe is still struggling to reassure investors.

Trading volumes higher

At the opening, the CAC 40 index opened slightly lower Friday morning: -0.34% to 3961.04 points. At the London Stock Exchange, the FTSE-100 fell by 0.11% to 6017.25 points, the Frankfurt Stock Exchange, the DAX 30 lost 0.28% to 7055.42 points.

Amidst all these economic uncertainties, there are still signs of hope: the trade volumes have returned to normal levels even higher. Thursday, 4.8 billion euros were traded and 4.2 billion on Wednesday.

On the macroeconomic front, are scheduled:

In France:

– The benchmark index reached 119.17 in rents in the fourth quarter of 2010, according to figures released Friday by the INSEE.In one year, increases of 1.45%.

In Europe:

– Sales of new cars fell 5.5% in 2010 in the EU compared to the previous year at 13.36 million cars.

– Foreign trade in November (11:00) and the second estimate of inflation in December (11:00) in the euro area

United States:

– Inflation in December (14.30)

– Retail sales in December (14.30)

– Industrial production in December (15.15)

– The first estimate of the index of consumer confidence from the University of Michigan in January (3:55 p.m.)

– Inventories and business sales in November (16 hours)

On the currency markets, the euro fell back against the yen at 1110.39 (-0.1%), and continued its momentum against the dollar at 1.3372 (+0.18%).

Carrefour confirms its objectives

Carrefour: 1.99% to 34.06 euros

Carrefour on Thursday confirmed its objective of operating income during 2010. The group last year recorded a growth of 5.8% of its sales to current exchange rates, thanks to the good performance of emerging countries payday loan.

Technip: 1.54% to 74.97 euros

Technip announced Friday it had won a contract from Chevron for the field development Jack and St. Malo, located in a water depth of approximately 2100 meters in the Walker Ridge area in the Gulf of Mexico.

Accor: 0.98% to 35.45 euros

Accor announced the sale of the walls of 49 hotels in France, Belgium and Germany to a consortium of Predica, Crédit Agricole subsidiary of Insurance (80%), and Land Walls (20%), amounting total of 378.4 million euros.

Renault: +0.40% at 48.44 euros

The complaint against X Thursday by Renault industrial espionage which he says victim is a foreign corporation, said the Paris prosecutor.

For his part, Peugeot climbed 1.38% to 32.32 euros, despite the decline of 5.5% of new car registrations in the European Union last year.

Intel's results boost values computer

After the good results on Thursday from Intel, the computer values show the largest increases in the CAC 40: Cap Gemini rises from 1.43% to 36.23 euros, ST Microelectronics rose 1.32% to 8.98 euros.

Aeroports de Paris: +0.08% at 59.05 euros

The government and airline officials agreed Thursday in a dozen measures to better cope with falling snow have disrupted traffic in late December.

Sanofi-Aventis: 0.29% to 51.95 euros

The U.S. ally Sanofi-Aventis, Bristol-Myers Squibb said Thursday the recall of 64 million tablets of Avalide, a treatment against hypertension in the United States and Puerto Rico.Moreover, the French laboratory hopes to conclude its takeover bid for Genzyme around $ 76 per share against 69 previously.

Bank stocks battered

Despite the success of bond issues, bank stocks were battered on Friday: Societe Generale, biggest drop of the CAC 40 lost 1.79% to 44.40 euros, Natixis was down 1.11% to 3.84 euros, Credit Agricultural loose 1.01% to 10.30 euros and BNP Paribas dropped 0.93% to 51.21 euros.

First U.S. bank to issue this year, JP Morgan Chase will present its fourth quarter results on Friday to 13 hours.

Stallergènes: -0.02% to 58.89 euros

Stallergenes reported Thursday of a rise of 12% of its turnover in 2010 but he confirmed anticipate a slowdown in growth for its new fiscal year.

Veolia: -0.57% to 22.77 euros

The city of Paris should entrust its lighting contract of 900 million euros sweat ten years to a consortium consisting of Bouygues (-0.09% to 33.11 euros) and Vinci (+0.05% at 41.22 Euro) at the expense of a subsidiary of Veolia Citelium, and EDF (+0.34% to 31.2 euros), according to Les Echos.

Despite the erosion of its earnings, life insurance remains the preferred placement of the French. In 2010, they placed 133.8 billion euros (gross inflows in late November) on these contracts, or 6% from a year earlier. Cautious since the 2008 crisis, investors still prefer funds in euro (87%) contracts in units of account (UA), invested in shares. The deal could change. "The decline in compensation funds in euro should dampen the collection," says Cyril Blesson, co-founder of Cahiers de l'Epargne. However, "life insurance will this year again, the preferred placement of households," he says.

Possible increase in the rate of the Livret A

Also very popular Livret A could he, more attractive for savers in 2011. His rates could in fact go from 1.75% (since August) at 2% net tax on February 1.Everything will depend on the evolution of inflation in December (to be published tomorrow by INSEE). Banque de France uses a mathematical formula that takes into account money market rates and inflation excluding tobacco to calculate twice a year (August 1 and February 1) pay the Livret A. However, if the short-term rates have remained low, the index of consumer prices would have risen 1.6% to 1.7% in December. "The Livret A rate increase to 2% if inflation excluding tobacco is greater than or equal to 1.65%," says Cyril Blesson. Generally, higher wage rates encouraged investors to fuel their booklets. This was the case in 2010. Despite a slump in the fall, the French have placed 4.09 billion euros on their books in 2010 (through November). "Taking into account the interest capitalized late December.Net inflows of 2010 should be around 8.2 billion euros. Which is pretty high, "Cyril Blesson advance.

Investors are so allergic to risk taking. They removed 7 billion of their stock and bond mutual funds in 2010.

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"Battle policy around the Livret A will increase to 2%

A crop in good and due form. The president, on Thursday at his vows to the social partners, spoke on the 35 hours, while the endless controversy over grow in the majority. The 35 hours' hard 'to' Mrs. Aubry had "consequences éfavorables" to "competitiveness of enterprises, the purchasing power and on public finances," he said. But with the flexibility introduced since then, "the 35 hours, uniform binding, no longer exist," says Nicolas Sarkozy.

So, yes, "there is no taboo subjects." But the head of state borders the debate: no question of "touching the purchasing power of employees" or "influence the competitiveness of enterprises". Include: no increase in expenses, which would put pressure on labor costs, or increase or elimination of the statutory working hours.This would reduce the number of overtime. These have enabled "5.3 million people" through exemptions from charges and income tax, to supplement their monthly in 2010.

"For an average wage worker makes two additional hours per week, the net gain in purchasing power is 150 euros per month, said Nicolas Sarkozy. I do not know how to tell employees to work more without earning more. "Thinly veiled allusion to the boss of the UMP, Jean-Francois Cope, who wants to bring down the 35 hours but acknowledged it would mean "very short term" work longer for the same pay.

Bernard Thibault singled

Nicolas Sarkozy and Jean-Claude Mailly (FOR) during the vows.

The Tokyo Stock Exchange ended the session Monday, sustained growth, the Nikkei 225 index ended up 0.80% at 10,293.89 points, driven by good U.S. indicators and the progress of the financial center of Shanghai.

The Nikkei continued its momentum so bullish. Since the beginning of November, the Nikkei was up over 12%. After touching a high of seven months on the morning of Friday at 10,373.70 points, it fell as a result of profit taking. According to analysts, technical signs that the market is overvalued. Coupled with the approaching end of the year, this should be downward pressure on the Nikkei.

Elsewhere in Asia / Pacific, the trend is upward Globle moderate. In Hong Kong, the Hang Seng 0.31% advance to 23,234.60 points. In Australia, the S & P / ASX rises from 0.21% to 4755.90 points.In India, the BSE allows itself 0.35% to 19,576.50 points.

China: no increase in rates or price controls

In China, this weekend, the rise in the index of consumer prices, the main gauge of inflation, last month, reaching 5.1% year on year, according to figures from the National Bureau of Statistics (NBS) released Saturday, against 4.4% in October. This is the largest increase since July 2008 when prices in one year had increased by 6.3%. The news did not result in a rate hike as was anticipated by the markets last week. Single turn of the screw: the rise in foreign currency reserves on Friday for the sixth time since the beginning of the year.

No price controls either. In retail, food prices rose in November from 11.7% a year, an increase smaller than what has been recorded in recent months.The government had said last month he was ready if necessary to establish price controls on essential commodities.

At the Exchange, the Shanghai CSI still climbing from 1.37% to 3205.14 points, after a good session on Friday. These increases are due to the concerns last week, related to anticipation of monetary tightening.

Oil up

Crude prices were up Monday in electronic trading in Asia (88.07 dollars), encouraged by a decline in the U.S. trade deficit and cold weather in the Northern Hemisphere and the United States, in terms of higher consumption , according to analysts.

The Organization of Petroleum Exporting Countries (OPEC), meeting Saturday in Quito, has unsurprisingly renewed its production quotas for the seventh consecutive time, judging the world market well supplied and relativizing the recent rise in oil prices."The conference decided to maintain its current production levels, set at 24.84 million barrels per day (bpd) since January 1, 2009.

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