Operators welcome the announcements of leading finance ministers of the euro zone, Jean-Claude Juncker, made in the night. The latter warned that the Financial Assistance Fund (EFSF) would reach "probably not" the one trillion euros, as had been promised after the crisis summit last October. "The conditions have changed" in the financial markets, he said.

The euro area is turning to the IMF, whose resources should be increased "through bilateral loans" to the institution of Washington "could have adequately the same firepower as the EFSF and cooperate with him in an even closer, "said Jean-Claude Juncker credit reports free.In the process, BNP Paribas advance of 0.91%, 1.44% of Credit Agricole and Societe Generale 0.38.

Laurent-Perrier (4.96% to 68.75 euros)

The group announced on Wednesday champagne avoirtriplé profit in the first half of fiscal year 2011-2012 (ending September 30) through its exports and that he intends to remain cautious about the whole year because of economic context.

Publicis (-0.06% to 33.34 euros)

Maurice Levy, 69, was extended for four years as Chairman of the Corporate Executive Board advertising.

Bouygues (-0.36% to 23.30 euros)

The construction group Bouygues said Wednesday it has awarded two contracts for a combined total of nearly 160 million euros for the construction of residential buildings in Singapore.

The stock market turmoil of recent months are probably a part of the explanation. Indeed, in the previous survey in May, 55% of wealthy households thought that the decline in the stock market was behind them, and 44% felt that there was no risk of another financial crisis …

Since then, things have changed dramatically.

The waiting period is the period at the beginning of the sickness, during which Social Security does not compensate the employee. For those in the private sector, this period is currently three days. They are beginning to reach compensation only from the fourth day of absence. As part of the austerity plan, this period will be increased to four days in the private sector, and one day in the three public functions no fax payday loans. But in practice, only a minority of employees do not receive anything in the first three days, most companies shall bear all or part of the time (see below).

The waiting period have the same impact for all employees?

For many employees, it is painless. According to the Ministry of Budget, 70% of them are covered by a collective agreement that provides for the assumption by the employer of all or part of the waiting period.

Consequence: the traffic is slightly disrupted Tuesday. The TGV normally roll axis except Atlantic routes, where seven out of 10 will be provided. For Transiliens – Paris commuter trains – three out of four trains roll on average during peak hours. As for the TER (regional trains), they are also three sets of four that will work.

The situation was complicated, however, on Tuesday morning in the Paris area RER B cash advance. Surla The RATP staff working on this line have invoked their right to withdraw following the discovery of asbestos on some trains.The traffic of this line is very upset: no train run from the Gare du Nord and Saint-Rémy-lès-Chevreuse (Yvelines) between 10:30 and 16:00, and only two on a train run between 7am and 9am and from 16h .

On the other RER lines operated by the SNCF, the traffic is normal on lines A and E. Two out of three trains running on lines B and C, while 7 out of 10 trains run on the line D.

A journey of two will also be provided on average for the Intercity day, with normal traffic on the routes Paris-Clermont-Ferrand, Paris-Limoges-Toulouse and Paris-Amiens-Boulogne.

Half a solution for excess fees

MEPs adopted an amendment to try to remedy the excess fees excessive. They left until the end of January to physicians, the social security and complementary health for themselves conclude this endless soap opera.Otherwise, the government will impose a solution.

It will offer surgeons, anesthetists and obstetricians to free prices (Area 2) to commit to cap the amount of their passing, 50% above the "tariff Safely." In addition, they shall not apply any overflow at least 30% of their actions. In exchange, Medicare will cover some of the social contributions of these volunteers. Patients, themselves, these exceedances will be reimbursed by the most complementary health – those who refuse their contracts will be taxed more.

But this scheme leaves the side of the road sector 1 physicians who have to comply with the Safely rates, including a thousand surgeons holders of certain diplomas, to whom greater pricing freedom is promised by the government since 2004. That's what unions denounce CSMF doctors and the Bloc.

Referring to the weight of the wage bill in fixed costs, the group finance director Frederic Saint-Geours found Wednesday morning "quite likely" impact "on all the numbers," which amounted to 205,400 employees.Soon after, Philippe Varin, Chief Executive of the group, said that 10% of the European Non-dedicated to the production could be affected, or 5000 jobs in total. Knowing that in France, with 100,000 employees, temporary workers and subcontractors should be the only ones targeted by these measures he added. By late morning, PSA has already announced in the European group committee deletion of 800 temporary positions in France by the end of 2011, according to a union source quoted by AFP. In addition, Philippe Varin is scheduled to meet soon with Eric Besson, Minister of Industry.

Unions rebiffentLes unions were quick to react to this. These cuts staff have "something outrageous" Bruno Lemerle storm, CGT delegate to the committee of the European Group, deplored the "working conditions already overburdened."And adds: "The financial situation of the company is good [and] there is no reason to go to job losses." In fact, the total turnover of the group grew 3 no faxing payday loans.5% to 13.45 billion euros in the third quarter. It was worn by an increase of nearly 16% of sales of Faurecia, 7.1% of the Gefco and 6.2% of turnover by PSA Finance. The group, however, lowered its earnings forecast for 2011. On the occasion of the publication of its sales figures, the manufacturer announced it is now an operating profit of the car to balance this year when he banked before on a "clearly positive results," said Frederic Saint-Geours.

PSA made no secret of its intention to scale back on the old continent.In mid-September, Philippe Varin have already confided to Le Figaro "Identification of overstaffing," while the European market already slowing. France, Germany, Italy or Spain, the group seeks at once to "get in line" to increase its margins, said Philippe Varin. To do this, the group has initiated a comprehensive economic plan in 2009 (within which the measures of the day), to save 3.7 billion euros in all, drawing on purchases and fixed costs .

Emerging countries in their sights

Meanwhile, the manufacturer seeks to "globalize" more to take better advantage of growth drivers that are "Asia, Russia and Latin America."The group has announced on Wednesday an investment of 200 to 250 million euros a year over the period 2012-2015 in order to double its production capacity in Brazil.

Nevertheless, PSA

After these social ads, the automaker was operating under the sharply higher in late morning, gaining 2.55% to 17.50 euros.

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Particularly exposed to the crisis in Greece with its local subsidiary Emporiki, Credit Agricole, was downgraded by one notch Mood'ys ten days ago, as its rival Societe Generale. By reducing the size of its balance sheet, the bank may, mechanically strengthen its financial soundness. BNP has already announced plans to reduce by 10% the size of its balance sheet by the end of 2012, while Societe Generale provides 4 billion of asset disposals.

This is also seeking to sell its stake in Newedge, the joint venture of Societe Generale and Credit Agricole specializing in derivatives low fee payday loans.According to a source quoted by Reuters, the bank will also consider transfer SGSS, its management subsidiary titles, but no decision had yet been taken.

Reorganization in North Africa and the Middle East

Tuesday, the head of Crédit Agricole in the UAE had told Reuters that the bank had closed its merger and acquisition in North Africa and the Middle East. "We want to focus on areas where we can create value for our customers," he said.

At the Paris Bourse, the Crédit Agricole yield 1.04% to 5.134 euros after climbing 13.10% yesterday, amid rumors of measures to support the banking sector in the euro area.

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"Week crucial for Greece

Everything came together last week to blow away the gold: a warning from the Fed on the U.S. economy, disappointing indicators in Europe and China and a worsening debt crisis in Europe. And yet, the yellow metal has not taken advantage of the panic in equity markets, stopped in its tracks by pushing the dollar that followed the speech by the Fed. For it is the greenback, this time, which used its safe haven status: he flew Thursday to its highest level in eight months against the euro. But the inflation of the dollar makes it less attractive purchases of dollar-denominated metals, like gold.This increase also decreases the value of gold, pushing the funds and investors looking for liquidity, to abandon their positions on the yellow metal to cover losses in other markets.

Thursday, these two factors have reduced the metal king of 90 dollars. Friday, it sank below the threshold of 1,700 dollars per ounce at meetings, in 1666 dollars, its lowest level since early August. On the London Bullion Market, he finished in 1689 dollars at auction in the evening. Since its record high 1,921.15 dollars in September 6th, he gave up more than 10% of its value. But observers remain confident in the ability of gold to rebound.In addition to strong Asian demand, low interest rates charged by the Fed would still enjoy it, because gold is a good safeguard against inflationary pressures that may arise.

In the wake of gold, precious metals industrial markets have collapsed. The money collapsed by 17% over the week to its lowest level since May He finished Friday at 32.90 dollars per ounce. On the London Platinum and Palladium Market, an ounce of platinum finished the week in 1651 dollars, a drop of 8%, while an ounce of palladium finished at 659 dollars, down nearly 10%.

Dollar and oil pessimism saddled

Oil markets, there was also a before and an after Fed. Earlier this week, before knowing the content of the speech of the U.S. central bank, investors showed just cautious.The debt crisis in Europe and global growth forecasts revised downwards by the IMF in any case not an incitement to rise. Tuesday, in a burst of hope, buoyed by the certainty that the Fed launched a new massive operation to support the U.S. economy, growth has occurred, taking a barrel of light sweet crude for October delivery at 86.89 dollars and Brent at 110.33 dollars.

Wednesday started the fall has been rapid. The operation twist the Fed was anticipated and the device does not return any new liquidity in the markets. Hence the skepticism about its effectiveness. Moreover, "the press has depressed the market, noting the significant risks facing the economy," noted analysts at Commerzbank. The rise of the dollar has not helped the situation.

On the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for November delivery ended at 80.51 dollars Thursday (-6.3%). Prices fell, the worst of the meeting at 79.66 dollars, its lowest level for over a month. Brent, meanwhile, returned that day at 105.34 dollars. "The combination of concerns about economic growth, oil demand and a stronger dollar helped lower prices," Adam Sieminski noted, Deutsche Bank.

Friday, as markets returned to green, oil prices continued to tumble, unable to bounce back after the collapse of the previous day.On the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for November delivery ended at 79.85 dollars (-10% for the week), while Brent closed at 104 personal loans for bad credit.25 dollars (-5 %).

Copper drops below $ 8,000

Also in the category of risky assets, investors have fled the base metals. They have been hit hard by the pessimism of the U.S. central bank. In addition, there were ominous indicators of activity in France and Germany. Most strikingly, China, world's largest consumer of base metals, annoncéun a decline in manufacturing activity in September, its lowest level in two months.

All these new, been grafted to the debt crisis in the euro zone, came after the announcement by the IMF revised downward its growth forecasts for the U.S. and the euro area.In this context, investors fear more than ever a return to recession in developed economies and a general decline in demand.

The gloom that has pervaded the London Metal Exchange (LME) was illustrated by the fall of the copper on Thursday and Friday, when stock markets posted heavy losses. The red metal, the market barometer, fell at the meeting under the 8000 points to 7788 dollars, a level not seen since September 28, 2010. Since its historic peak in February (to 10,190 dollars per tonne), the price of copper dropped nearly 30%. Nickel has lost up to 18% of its value in two days, tin over 22%. Aluminium, with a loss of 6% is almost the resistance.

According to observers, this general distrust of investors, fueled by the soaring dollar, however, is exaggerated in terms of market fundamentals, at least for copper.The latter has a higher Chinese imports by 21% in August, its highest since January, as well as tight supply due to a massive strike in a major mine in Indonesia.

The sugar melts

Soft commodities were also shaken last week. Per tonne of white sugar in London has fallen by over 13% in one week, losing nearly a quarter of its value in one month, while in New York, raw sugar prices have plummeted more than 15% in five days. In addition to concerns about global growth, has suffered from the sugar harvest prospects soaring in India and Europe, including Russia and the European Union. China has also marketed 200,000 tons from its stock state.

For its part, cocoa continued to fall Thursday in London to reach its lowest level since August 2009, to 1745 pounds per ton.Brown bean was already suffering from the announcement of record crops in Ghana and Côte d'Ivoire, the two largest exporters worldwide. On the NYBOT, ICE U.S., the contract for December delivery lost 5.5% on Friday week in 2624 dollars, while on the Liffe in London, a tonne of cocoa for December delivery, dropping 2.3% to 1734 lbs.

Coffee prices have also increased their decline, the price of arabica listed in New York yielding over 10% in the week at 234.85 cents. Even bearish for wheat, corn and soybean crops and penalized by the stronger than expected yields in the northern Midwest, United States. The courses also suffered from a shift in Chinese demand for soybeans to Latin America because of rising dollar and competition from countries of Eastern Europe for wheat, shown by the loss of the call supply of Egypt, won by Russia.This lower demand has relieved the stocks were under pressure and stepped down on the Chicago Board of Trade. Bushel of corn (about 25 kg) for December delivery was worth 6.4925 dollars Friday, a bushel of wheat and $ 6.43 soybean contract 12.69 dollars.

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In fact, the government is prepared to accept that the tax is triggered from 250,000 euros per unit. The level advocated by the current UMP Presidents of the Assembly and Senate, Bernard Accoyer and Gérard Larcher. "This is a good level of understanding," they say in the entourage of Gilles Carrez, the rapporteur UMP budget to the Assembly. The draft budget law will be amended in October this.And review, the tax will yield € 300 million to the state, instead of 200 million. It will affect 15,000 to 20,000 homes in 5000 to 10,000 against the original.

Specifically, if the amendment passes, the contribution will trip from 250,000 euros in annual revenue for a single and EUR 500 000 for a couple. For now, it is expected that having a child or children shall not be entitled to any share in the calculation of the contribution.

Regular income concerned

Another difference with the Income Tax (IR): the contribution of 3% apply to "income tax reference." This "reference taxable income" includes wages, but also dividends, interest, capital gains and estate securities short, capital income. "This makes the contribution on very high incomes more effective than the creation of an additional 45% of IR.Indeed, the IR is such that capital income would escape taxation at 45% and would remain taxed at 19%, "said Gilles Carrez.

The government hoped that only households with high incomes are regularly taxed. This is to prevent a dealer who sells one year his business pays the contribution. For this, the income taken into account for the outbreak of the tax will be calculated as an average over three years. This will be discussed, Gilles Carrez wanting only the capital gains are smoothed over three years. The contribution should go out when the deficit below 3% rise in GDP, that is to say in 2014. But many outstanding taxes have been made permanent …