The PS group had set the tone early work of the commission, promising to "constantly incidents meeting" with allusions to the case Bettencourt.The operation was supposed to prove that Eric Woerth was too "weak" to defend the reform. It has not achieved its goal, much to the relief of the UMP.

But the majority knows that it is not the end of his sentences. And many of its leaders are beginning to say that "we" had "made a mistake in the text referring to the back, instead of extending the session to push through July 31. "On", Raymond Soubie. The office of the adviser had convinced Elysee Nicolas Sarkozy to let the summer to prove his readiness for dialogue with unions, while Francois Fillon would rather go fast. The Prime Minister has not been heard. An MP close to him sigh: "In the end, unions have the summer to replenish their unity in a climate rotten history Bettencourt.Of course, what happens in Woerth was not foreseeable, but we know that in France the reform was.

One minister argued

In the Assembly, but also in the executive, some whisper Eric Woerth would do well to "shoot himself the consequences of damage it causes" to his political family. Clearly, to resign, but his departure could be in any way be attributed to Nicolas Sarkozy. "The president supports his minister doggedly, and will not do anything that might suggest that he wants to get rid of, explains it to the UMP. But nothing prevents Woerth demand a cease-fire. "

Apparently, the Minister of Labour is not in that frame of mind. Encouraged by the demonstrations of solidarity that come each day of his camp, he makes a point of honor to lead the reform of pensions. The leaders of the majority will therefore help.The delay until September consideration of amendments on the hardship, including those signed by Xavier Bertrand, part of the strategy. In case of back politically and socially turbulent, the government will need room for negotiation.

Hong Kong drops 1.36% to 20,821.20 points, 0.91% cedes Taiwan to 7391.74 points, Seoul lost 1.22%, 0.58% in Sydney coward 4779.50 points, fell by Bombay 0 53% to 17,464.90 points and Singapore shows a decrease of 0.98% to 2945.34 points.

Despite the activation of a massive bailout of Greece announced on Sunday by finance ministers of the euro area, markets do not regain confidence. They are worried about further increases in reserve requirements of banks in China, 50 basis points. Banks will therefore retain 14-17% of their loans in chests. This measure, which takes effect next May 10, is supposed to limit loans to individuals and businesses to avoid the overheating of the Chinese economy.This is the third increase since the beginning of the year.

The banking and real estate values at half

Consequently, the evolving Chinese banking stocks down sharply, on Monday, including Bank of China, which fell by 1.72%. Regarding property values, China Resources fell 4.97%, Shimao Property Holdings sells 2.47% Agile Property Holdings or drops 2.17%.

A barrel of oil above $ 86

Crude prices were up Monday in Asia after the announcement of the plan of aid to Greece and because of a probable decline in U.S. production in the wake of the oil spill in the United States.

In morning trading, a barrel of light sweet crude for June delivery took 16 cents to 86.31 dollars, while Brent North Sea with identical maturity, gained 13 cents to 87.57 dollars.

The news comes as the crisis Greek climbed a step, revived by the relegation of the country score in the category of speculative investments by the rating agency Standard & Poor's. Many analysts believe that Credit Agricole is one of the banks most exposed to the current crisis in Greece.

More generally, according to the Bank for International Settlements (BIS), the French banks in Europe are most concerned with exposure estimated at 75.12 billion dollars (57 billion euros), followed by German banks with exposure estimated at 45 billion dollars (34 billion euros).

French banks are the only institutions to have bought Greek Emporiki to Credit Agricole and Societe Generale for Geniki. The latter has not yet discussed the amount of its commitment.For its part, the general manager of BNP Paribas, Baudouin Prot, said Wednesday that his institution's exposure to Greek banks was "absolutely negligible" fast cash loans.

The sector battered stock market

The markets are in any case a very dim view of the involvement of French banks in a country attacked by the rating agencies. Investors fear that such consequences could lead to default or restructure the debt of Greece.

Results: The bank is breaking titles in stock. The action of the Credit Agricole fell 3.41% Wednesday to the Paris Stock Exchange, after declining more than 7.6% during the session. It lost 9.57% over the five days and 10.60% since the beginning of the year.

Societe Generale has limited the damage on Wednesday with a decline of 0.33% in closing. But the fall is much heavier since January 1 of that Credit Agricole, with a decline of 16.42%.

For its part, BNP Paribas dropped 3.48% on Wednesday at the close of Paris, and 8.80% since the beginning of the year.

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In Japan, the Nikkei 2005 advance him, of 0.36%, 11,136 points, breaking yet another record 18 months after already rising the previous day. The weak yen Dopen export values.

In Hong Kong, the Hang Seng index plaice 0.13% at 21,346 points while the Shanghai CSI 300 loose 0.29% at 3357 points amid profit taking.

In Sydney, the S & P / ASX similarly lost 0.27% at 4903 points. The values of construction and saddled the financial index.While the flagship index of New Zealand rose 0.4% to 3262 points.

Oil side, in morning trading, a barrel of light sweet crude for May delivery yielded six hundred U.S. dollars to 82.31 while Brent North Sea with identical maturity took a cent to 81.29 dollars low fee payday advance.

Toyota setting sales surge

Sales in the United States of Japanese automaker Toyota, which fell in January and February in the wake of massive recalls, could have rebounded 35% in March on a year through a series of promotions, said Tuesday a spokesman for the group.

In Australia, MacArthur Coal soared (+14.6%) while the group has received an offer of 3.3 billion Australian dollars from an American mining group Peadoby Energy Corp., which he refused.

Also in the continental countries, BHP Billiton down 0.8% after the group was awarded with steel producers to fix prices of short-term contracts for coking coal.

Rio Tinto up 0.6% while four employees have been harshly sentenced to prison two days ago. The Australians have doubts about the conditions of the trial held in China.

The Commonwealth Bank of Australia lost 0.4%.

"The Defense Department has received notification from EADS North America showing its possible desire to contribute to the replenishment of the Air Force and U.S. we would support," said Geoff Morrell.

He added: "If necessary, we may reasonably consider extending the closing date of tender, currently set for mid-May, which" would not be unusual, "he said.

Louis Welsh, head of EADS, stated, however, at a press conference in New York, that such an initiative would require the postponement of the deadline for response to the call for tenders for the currently scheduled for May 12But he says it is "impossible" for his group to submit to the Air Force bid for U.S. tanker aircraft in 60 days, however, leaving the door open to any proposal.

He said EADS had not taken any decision on a possible new bid for the contract, while Boeing is currently the only candidate. He also said that EADS had not sought another partner or been contacted by other groups to raise its offer.

A tender twice canceled

EADS and its U.S. partner Northrop Grumman withdrew from the bidding of the Pentagon, arguing that the terms of that favored Boeing.

The tender to supply 179 tanker aircraft to the U.S. Army, valued at 35 billion dollars, was awarded a first for Boeing in 2003, then again at Airbus (EADS) and its American ally Northrop Grumman in 2008, and each time canceled.

Customers (Belgium, Britain, France, Germany, Luxembourg, Spain and Turkey) will pay 3.5 billion euros extra. What survival program, which accumulates nearly four years late and reaped 5.2 billion euros of additional costs.

Specifically, they shall have two billion more on the initial price of the contract and provide $ 1.5 billion in exchange for a share of future exports, according to EADS.The original contract must be amended in the "coming weeks".

In addition, it was agreed to accelerate payment of PDP between 2010 and 2014, but no timetable has yet been arrested.

The time for congratulations

EADS considers that this agreement provides a basis "healthy" for a successful evolution of the A400 program M.

The French Minister of Defense Herv? Morin was commended for his share "of the finalization of the negotiations. "This agreement completes the implementation of decisions taken by ministers at the meeting organized at the initiative of France in Le Castellet July 24, 2009, during which the nations have decided to continue this program emblematic of Europe defense, "he said.

In January, EADS said it planned to simply abandon the program, saying while threatening the sustainability of the group.

The Minister then assured that France would "do anything to save" the project. A few days before, the multipurpose aircraft designed to replace the Transall C-160, for example, 45.1 meters long and 14.7 meters high, can Tranporter troops and equipment, had made its third flight.

Profit warning

This agreement is obviously good news. But EADS will pay the piper in recent months. The group was informed on Friday that it will record an operating profit (EBIT) and net earnings were negative in 2009.In case the provision of 1.8 billion euros for the additional costs of A400 million, he announced today in a statement.

"The final figures will be disclosed during the announcement of full results of fiscal 2009 EADS March 9, 2010.

CM-CIC, which was released yesterday, Thursday, a "preview" (a score prediction results), banking on a net income of 60 million euros, while the Bloomberg consensus provided 21 million euros. But these figures do not include the provision because it was not known.

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The California Pimco, the largest bond investor in the world which manages 199.5 billion dollars on this market, has reduced its shares of American and British debts to a level not seen since the bankruptcy of Lehman Brothers in September 2008, reports agency Bloomberg.The European BlackRock has in turn reduced its exposure to these securities at its lowest level in two years, the Financial Times.

Investment funds fear two things: that the interest rate, the lower back quickly and that the market can absorb the debt securities issued as required by the states … fueling the rise in yields . A concern that is primarily about the United States and the United Kingdom.

Decline in value of portfolio

"The question posed to the fund now is: when and how fast interest rates will they go?" Analysis Bruno Cavalier, chief economist at Oddo. A rise in interest rates next, helped by economic recovery, would mechanically increase the yields of bonds issued in the coming months.As a result, the securities purchased in the past by the fund with a lower yield, would see their market prices fall. This would melt the value of fund portfolios.

In this perspective, bond yields have rebounded. "Today, the yield on the U.S. ten years is around 3.8% against 3.2% last month and a half … and cons 2% a year ago," notes Bruno Cavalier. Same trend for UK Treasury bills. A consensus of analysts surveyed by Bloomberg, the ten-year yields should rise by 4.01% today to 4.31% by end 2010.

Still, the natural demand for sovereign debt should continue, slowing the rise in rates. The new regulations are put in place will indeed require banks to offset the risk by increasing their liquidity cushion.They then turn to bonds. Therefore, "even if emissions of sovereign debt increased sharply, demand should rise dramatically," said Laurence Boone, chief economist at Barclays, before agreeing, referring to ads Pimco: "We are never at 'immune from turmoil in a market if investors decide to all move together … "

• Ceiling overall tax loopholes

For income received in 2010, a taxpayer may not reduce their income tax using the tax loopholes (working from home, child care, grants to associations, Scellier …) beyond an amount equal 20 000 plus 8% of its taxable income. Introduced in late 2008, the overall ceiling was far more generous, to 25 000 plus 10% of income.Taxpayers who use the niches Dom-Tom, Scellier, or devices for tourist homes have a respite: they have signed an investment commitment before December 31, 2009, they escaped the drop in overall ceiling .

• Act Scellier

The reduction of income tax, taxpayers enjoyed buying a new home for rent under certain conditions, remains at the same level as in 2009 – representing 25% of the purchase price – for homes purchased in 2010 that they meet or not the standard "building low-power" (BBC). The "greening" starts from 2011 for non-BBC dwellings, the tax cut to 15% next year and 10% in 2012. For homes BBC, it remains at 25% in 2011 and then fell to 20% in 2012.The Scellier disappears at December 31, 2012.

For new housing, the loan rate zero (PTZ) was doubled in 2009 and will continue until June 30, 2009. Photo credits: Pascal SITTLER / REA

Suffice to say that this news is more embarrassing for the U.S. Treasury had planned to sell up to five billion dollars of securities it owns Citigroup and completely out of the capital within six to twelve months.However, in the context of extending the bailout of banks until October 3, 2010, the U.S. Treasury has decided to extend for 45 days after freeze selling 7.7 billion shares it holds stake in Citigroup.

Citigroup plans to issue 17 billion worth of shares and will raise 3.5 billion extra in the form of securities convertible into shares in deteriorating solvency ratios. If market demand is strong, Citigroup may increase its emissions to 19.55 billion dollars.

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The Wall Street Journal reports that Gordon Brown and Nicolas Sarkozy on Thursday proposed a "global compact long term" of banking regulation. They would support a tax bonuses in banks and greater coordination of economic policies of states.

Values follow

BNP Paribas Assurance acquires 100% of Dexia Epargne Pension. The bank wishes to complete the transaction before the end of first quarter 2010.The transaction amount was not disclosed. The title takes BNP Paribas 0.92%.

Sanofi-Aventis (0.53%) and the American biotechnology company Alopexx Pharmaceuticals have signed a cooperation agreement on a new monoclonal antibody for the prevention and treatment of infectious diseases contracted in hospitals. Moreover, the vaccines division of Sanofi Pasteur, will expand into Latin America program of clinical trials of its vaccine against dengue.

Thomson collapses over 7%. The title returns to below 1 euro to 0.90 euro. The group released its backup plan to reduce its debt by 45% and will be submitted to its creditors on 21 and 22 December. Thomson provides a capital increase of approximately 348 million euros.

According to the Financial Times, RWE and E. ON would have to choose between Areva (0.81%) and Toshiba to build four to six reactors in the United Kingdom.The decision will be rendered within six months. Nuclear projects could reach 20 billion pounds (22 billion euros).