Sundial of world news

Around 12 h 20, the CAC 40 rose 0.7% to 3770 points. The confidence seems to come on the market. Traders were cautious in the morning while Bank of America has trouble repaying the $ 45 billion loan from the state without affecting the level of its own funds and that rumors of a massive increase of capital around the title .

Values follow

Michelin (+1.2%) recorded a turnover down 10.9% in the third quarter to 3.75 billion euros, due to declining world markets tires.The decrease in sales amounted to 12.5% in the first nine months to 10.9 billion euros.

Dassault Systemes (7.29%) recorded the largest increase in the DTH after announcing it bought IBM's sales and customer support related business applications lifecycle of products, for 600 million dollars.

Societe Generale (-1.15%) denied information published in Le Monde, which referred to a proposed alliance between the bank and Credit Agricole (-0.64%). Moreover, the bank will abandon its green activities in retail banking in Uruguay for "strategic reasons" to focus on Europe and the Mediterranean.

Publicis (+1.36%) reported a sales decline for the third consecutive quarter, by 5.3% to 1.047 billion euros.The group emphasizes that "The fourth quarter should be better on the third, the market for Publicis.

Alstom gained 0.75%. His arm Alstom Transport will remove 500 jobs in the United States on an assembly of equipment. Title Alstom rises of 1.23%.

Plastic Omnium (-1.63%) announced a consolidated turnover of 1.742 billion euros over the first nine months of 2009, down 16.4%.

Faiveley Transport (-9.21%) displays the second quarter of 2009/2010 a turnover of 198.5 million euros. The first half of the year, the group's activity amounted to 414.6 million euros, an increase of 8%. Faiveley lost 0.86%.

The turnover of NextRadioTV (0%) stood at 82.1 million euros at September 30, 2009, down 3%.

The turnover of Manitou (-2.89%) fell from 47% in the third 2009 at 146.7 million euros."The business continues to decline (especially due to agricultural market disruption) but slower than earlier this year," the group said.

The Swiss group Adecco, the world of agency work, just formalize this Tuesday the acquisition of the MPS U.S. $ 782 million. The operation, financed solely by equity group, should have a positive impact within three years, it said in a statement.

"The acquisition of MPS represents an important step in the strategy to strengthen Adecco in the business to higher margin work placements, which offer attractive growth over the coming years," said general manager Patrick de Maeseneire. The placement of activity currently represents about 25% of the turnover of the group, against only 17% last year, Adecco said.

The American group MPS, specialist investment particularly in the areas of information technology, finance, accounting and law, with 2008 sales of 1.5 billion euros. Its acquisition is expected to generate annual synergies with Adecco to 25 million euros.

The financial results for the third quarter will be published by Adecco November 5.

Consultation on priorities for the future that could benefit from the large debt are increasing in all directions. Just last week, the Labor Minister, Xavier Darcos, and his colleague on the Budget, ?ric Woerth, has received the social partners to discuss it. Meanwhile, contributions from corporations, professional associations, political parties or departments have been compiled by the government: markets of the future, health, eco responsibility, education, telemedicine, high-speed … all proposals abound.Latest, on Monday: France Biotech, the association of biotechnology companies has suggested that 15 billion euros are earmarked for "life sciences", including research on vaccines or stem cell.

The Head of State himself, in his interview with Le Figaro on Friday 16 October, citing the university, the capital of SMEs, renewable energy, research on the degeneration of cells … The tracks confirmed by one of Co-Chairs of the Committee Juppe Rocard-loaded by the Elysee to reflect the priorities of large loan: "We have four main themes: research, university, broadband and green growth," said Monday the former Socialist Prime Minister to Echoes.

The debate should continue in the coming days. This morning, the UMP will hold a convention devoted to the subject.And this week the Prime Minister, Fran?ois Fillon, will receive the representatives of political parties to gather their views. It should be against an end of inadmissibility of the first secretary of the PS, Martine Aubry.

Manage investments

Beyond the choice of sectors, the thinking is now entering a second phase. The only Matignon called "governance" of the big loan. In other words, how to manage investments? How to raise private funds for public funds abound? How to ensure the profitability of projects, both in growth and jobs? How to distinguish between projects which receive loans or advances repayable those who will receive grants? This question is not neutral."If public money is abundant private programs, it is legitimate to ask whether companies who will or will not reimburse a part," says one banker who has been heard by the committee.

The other issue to be decided on the terms and amount of the loan. Many people refer to a figure well below the 80 or 100 billion by the Elysee imagined initially. For Christian de Boissieu, President of the Council of Economic Analysis and member of the committee, the critical mass of future debt is between 20 and 60 billion euros. More precise, Michel Rocard evokes, in Les Echos, an amount which shall not "be too far above 30 billion. Additional constraint: since Nicolas Sarkozy announced the principle of the loan at Versailles in June, the bad news accumulated on the public finances.The debt of France should reach the record level of 91% in 2013, according to the latest estimates of Bercy. Finally, the question of opening the loan from individuals and seems well and truly departed yet. Privately, Alain Jupp? said he also reluctant to appeal to the public. "We prefer to use a traditional market," confirms Michel Rocard.

The great debt is expected to approach 30 billion euros

Aubry: "For Sarkozy, it's time failures"

Stopping the premium breaks will weigh on the statistics of retail sales in September in the United States. According to figures adjusted seasonally published by the Department of Commerce, they have declined sharply – from 1.5% in September compared to August – with the end of the device, which had boosted the index over the previous two months .

Although this decline is particularly important for a single month, it remains well below a forecast to analysts, who favored a decline greater than 2%. Auto sales, down significantly over the month, of course, have plagued the overall index, with a decrease amounted to 10.4% in September, a figure not seen since August 2005. They had jumped from 7.8% in August as a result of federal incentives to purchase new vehicles.

Excluding the impact of automobiles, retail sales rose 0.5% in September, more than was originally anticipated. A positive number, since they rose for the second consecutive month. Remains that over one year, the situation remains worrying, always accusing sales down 6.6% yoy in the third quarter.

The Dow Jones gained 0.80% to 9864.94 points with the momentum indicators and corporate earnings better than expected, published in the week. This is its highest closing level since October 6, 2008. The Nasdaq gained 0.72% turn to 2139.28 points.

The U.S. trade deficit declined by 3.6% in August to 30.7 billion dollars against 31.9 billion in July, data adjusted for seasonal variations. This decline is due to higher exports and lower imports. The market was waiting to turn an increase in the deficit to 33 billion.

Traders expect the status quo of U.S. interest rates for a few months after the speech of Ben Bernanke yesterday. This indicated that the Fed would be "ready" to act in time to return to a normal monetary policy."When economic prospects are sufficiently improved, we are ready to tighten monetary policy to eventually bring our balance to a more normal configuration," he said.

The values of the day

In a statement Chevron (1.83%) indicates that its results "should be better in the third quarter than the second. The results of exploration and production are expected to rise sharply, reflecting rising prices for crude oil, as well as some 400 million of gains from asset sales and tax revenue.

The Chinese Tengzhong will redeem 4×4 Hummer brand from General Motors today. The amount would be some 150 million dollars. Sichuan Tengzhong Heavy Industrial Machinery was in talks with GM since JuneIn addition, sales of General Motors in China and its joint ventures are around 1.3 million vehicles in the first nine months of the year.

The Wall Street Journal, the bookstore chain Barnes & Noble (-1.33%) is about to sell its own electronic reader, Kindle competitor to Amazon. Com.

The government wants to encourage companies to early negotiations on stress at work. Introducing an emergency plan after the highly anticipated series of suicides among France Telecom, Xavier Darcos acknowledged that governments had "underestimated" the issue and requested that "each company will grasp the subject." According to a poll released this week, 66% of French assets say they feel more stress in their profession.

Specifically, the Minister of Labor hopes that discussions begin before February 2010 in the 2,500 companies with more than 1,000 employees. He also expects that "either declined the inter-national agreement, signed in late 2008, which aims to" increase awareness and understanding of workplace stress, employers, employees and their representatives. "An initial assessment will be completed in February 2010, said Xavier Darcos to the sides, meeting within the Council guidance on working conditions (COGT).

Denunciations Internet

Even if "nothing is excluded, the appeal of the Minister of Labor is however subject to any affirmative duty, regretted the unions. "The first penalty is transparency," said Xavier Darcos justified. "We publish on the Internet list of companies that have negotiated those who did not negotiate, if any, but I would not recommend, and the results of these negotiations and good practices" to implement, he said."Given the pressure of public opinion, transparency is a very good solution," he still tried.

The government has not provided real steps beyond the business of more than 1,000 employees, hoping that their actions will serve as a model for others. Xavier Darcos however called for "shares information on the psycho-social risks" within the SME and SOHO. "For companies engaged in a process of restructuring, the ministry requires however taking into account psycho-social risks. And a monitoring unit will be established to "coordinate" and "impulsive" actions to prevent stress at work.

These different elements will be incorporated under the Occupational Health Plan to be developed "by the end of 2009."

The government is preparing to take action against doctors displaying excess fees excessive. According to the Tribune, which learned of a draft decree, the Ministry of Health plans to strengthen sanctions. This decree law enforcement Hospital, patients, health plans and territories that doctors may repeat the overrun will lose their right to practice these overruns for a maximum of five years, by decision of the directors of health insurance . They will also no longer benefit from the participation of health insurance to finance their social security contributions.

The decree said that physicians in fee-free areas 2 (*) when developing their passing rates must respect the concept of "tact and moderation."This principle takes into account the patient's financial situation, the reputation of the specialist, the complexity and duration of medical procedure, the service rendered to the insured, and the average amount and the proportion of exceedances What colleagues introduced the physician in the same territory. Failure to respect this concept of "tact and moderation," the penalty will rise to between 100 doctors and 200% of excess charged.

The decree issued by the end of the year

If they are convinced of discrimination in access to care, the penalty is twice the maximum monthly Social Security or 5718 euros.For doctors who have not sent their patients written information prerequisite to the cost and terms of repayment of certain acts, it will cost a maximum of 100% of the excess charged for the act not informed.

A source at the Ministry of Health confirmed that a decree was being prepared. He could be released by the end of the year, but its content should still be subject to consultation. The framework for higher fees is the subject for several years of painstaking negotiations between health insurance, supplemental health and unions of physicians.

Unions and health insurance have scheduled a meeting Thursday to reach agreement before the deadline.MPs set them under the law Bachelot, adopted earlier this summer, a deadline of October 15, after which the government could decide only coaching overruns.

(*) The excess fees authorized for physicians called in "Area 2" means amounts above the rates for Social Security, which are based on reimbursements for patients.

"Overtaking fee: regional inequalities surprising

The Blackstone investment bank specializing in particular mergers and acquisitions and capital investment, consider an IPO for eight of its companies next year. The group hopes that its companies will be fairly valued at their introductions to "cover the costs significantly," says founder Steve Schwarzman, quoted in newspaper financial columns of the Financial Times.

The daily sees this decision BlackStone new confidence in the market by the U.S.. "The worst is behind us," said Steve Schwarzman.

The Blackstone Group, founded in 1985 by two former Lehman Brothers with $ 400,000, has itself been brought public in June 2007 with a capitalization record 40 billion U.S. dollars.

After the first American publications published last week, it was the turn of Europe to present their financial results for the third quarter. The Dutch Philips leads with results above analysts' expectations.

The group specializes in electronics and home appliances has announced a turnover of 5.62 billion euros, down 11% over third quarter 2008 but slightly above the consensus.It appears in net up 19% compared to sales of second quarter 2009.

Net profit reached 176 million euros, three times that of the same period in 2008 while analysts by Dow Jones Newswires had forecast about 45 million euro loss.

In the statement released Monday, Gerard Kleisterlee, president of Philips, notes the significant improvement in sales and profits in most of its activities in the previous quarter but remains cautious on the outlook in the short term absence of structural recovery on these same markets. The Philips Group employs 118,000 people in sixty countries and has made 26 billion euros in turnover in 2008.

After Philips, Electrolux is another giant appliances, which will publish its results in the day.The U.S. aluminum producer Alcoa opened the quarterly earnings season last Wednesday with results exceeding consensus expectations. This week should be decisive on the equity markets with the simultaneous publication of several large U.S. banks such as JPMorgan, Goldman Sachs and Citigroup Wednesday and Thursday.

Around 9:05, the CAC 40 rose 0.33% to 3812 points. The remarks of President of the Federal Reserve Bank of St. Louis supports the market. James Bullard said on Sunday that the U.S. economy has resumed growth. He said the gross domestic product (GDP) could be between 2.5% and 3% in 2010, with possible further significant growth in the first half.

Values follow

The Russian manufacturer Avtovaz and Renault-Nissan alliance could make all the cars on the same assembly line in 2012, said boss Avtovaz, Igor Komarov.

According to the newspaper Liberation, a part of nuclear waste produced by nuclear plants of EDF is not recycled but stored in Russia. "13% of French radioactive waste produced by EDF are found outdoors in Siberia in a city forbidden to access," the paper said.The investigation by the newspaper should be broadcast Tuesday on Arte.

Carrefour sees no real signs of improving global economic conditions.

EDF would have received authorization of the Nuclear Regulatory Commission (NRC) to purchase 49.99% of the nuclear activities of Constellation Energy Group. This operation will enable it to strengthen the U.S. market. Local authorities in Maryland (USA) have not yet given their opinion.

Airbus, a subsidiary of EADS, is confident about the possibility of its A400M fly by the end of the year. This program already suffered a delay of four years.