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The penalty was expected but it still sounds like a shock. In the night from Friday to Saturday, the rating agency Standard and Poor's (S & P) has dared to lower the rating for government debt of the United States, and deprived of their "AAA" for the first time in history . S & P said in a statement it had degraded to the next level this note, the best possible, to bring it to 'AA +'. It also lowered its outlook to "negative", which means that Standard and Poor's believes that the next time the note will change, it will be to be devalued again. The United States were rated "AAA" by S & P since the creation of this agency in 1941.They remain in the other two major agencies, Moody's Dean (since 1917) and Fitch Ratings.

Standard and Poor's, which had warned in April that it was considering lowering, justified its decision with "political risks" to see the country taking insufficient measures against its budget deficit. For her, the political debate on these issues is not up to the problems caused by a debt of more than 14,500 billion. "The plan for balancing the budget on which Congress and the Executive have recently agreed is insufficient compared to what, in our view, would be needed to stabilize the dynamics in the medium term public debt" said S & P, citing the law known as "control the budget" passed Tuesday.

S & P is the second rating agency to downgrade the American note, after the Chinese – less powerful – Dagong.Other – mostly American and French Moody's Fitch – are currently at Triple A.

The U.S. public debt to more than 100% of GDP

The first power of the world is, well, so sure before. The United States and joined Japan, Spain and Ireland have lost that status envied no fax payday loan. The loss of this seal of excellence is expected brutal impact on the financial markets, difficult to imagine right now. But while the financial world is upside down, the risk that markets continue to dive is high. The announcement of S & P comes in effect when the markets were closed for the weekend, closing on both sides of the Atlantic one week black.

China, by far the world's largest creditor United States, found that she had "every right now to require the United States to address their structural problems of debt."Second World holder of U.S. debt, Tokyo assured him that his confidence in the U.S. Treasury and its strategy of purchasing these bonds were unchanged. In France, the Minister of Economy Baroin reiterated his "total confidence in the strength of the U.S. economy."

Two days ago, the U.S. debt has passed a symbolic milestone. Because it exceeded the threshold of 100% of GDP, just after raising the debt ceiling by Congress. The United States saw their public finances sealed by the harsh recession that crossed their economy from late 2007 to mid-2009. Since then, economic growth has returned, but they are not able to restore the health of their public finances. According to estimates by the International Monetary Fund, they should acknowledge this year, with about 9% of GDP, the highest budget deficit of the G20 countries, except Japan.It is sixteen countries rated "AAA" by Standard and Poor's, four of the G7: Germany, Canada, France and Great Britain.

(With AFP and Reuters)

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The ACOSS, the umbrella organization responsible for collecting Urssaf social security contributions from businesses, released its annual report. The balance sheet shows a 10% increase in the amounts recovered through adjustments made during the year 2010. More than one billion euros (1.023 billion) have been recovered from the companies.

Black labor, professional fees undeclared exemptions from incorrect, contribution rates are the cause erroneous adjustments. Pierre Burban, president of ACOSS, questioned by the quotidienLes Echos, is however clear that this increase does not mean that companies have defrauded more. "If amounts are recovered record to fund Social Security is that the controls are more effective," says he.

Undeclared work is the priority

Last year, the 1550 inspectors and 220 inspectors have examined past 43 billion euros in contributions, a total of more than 260 companies were inspected milliards.37.000. The organization's priority is the fight against undeclared work. This resulted in adjustments of 185 million euros, or 42% more than in 2009, and three times more than five years ago payday loan. In this mission, the Urssaf are supported by the Labour Inspectorate, the tax authorities, police, gendarmerie and customs. And since 2009, the tools available to collectors contributions have expanded. The Urssaf can now cancel enjoyed exemptions from a company caught in the act of undeclared work. They can also apply standard adjustments.An arsenal that has helped raise 39 million euros in 2010.

In addition to the black, the adjustments involved in the errors and abuses of exemptions on low wages overwhelmingly, but also overtime, in the free zones. In almost half of cases, adjustments are made for the company … because the annual report also states that 214 million euros of overpayment were made to businesses.

According to the report, the amount of adjustments should continue to grow in 2011. The Urssaf have indeed received instructions from the Ministry of Labour: at least 190 million euros this year will be recovered only for adjustments related to illegal work.

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At the close, the Nikkei 225 index of blue chips lost 143.61 points to 9925.92 points, passing below the 10,000 points that he had passed last week for the first time in two months. The broader Topix index of all titles of the first table dropped 12.97 points (1.49%) to 857.19 points. The activity was quite low, with 1.83 billion shares traded on the market first.

"We must be on alert about debt problems in Europe, even more than before," said Yutaka Yoshii, fund manager at Mito Securities, quoted by Dow Jones Newswires.

European stock markets fell Monday, weighed down by the mistrust of the market vis-à-vis Italian and Spanish bonds have reached record levels, respectively more than 5% and 6%.After eight and a half hour crisis meeting in Brussels, the finance ministers of the euro area published in the late afternoon a statement intended to reassure markets about the soundness of financial support measures to the most indebted countries.

But the euro has remained on the defensive Tuesday in Asia, quoting 1.3961 dollars Tuesday shortly before 8 o'clock, against 1.4029 dollars on Monday in 23 hours. He also declined vis-à-vis the yen at 111.90 yen against 112.61 yen.

This weakness of the single European currency is bad news for Japanese groups engaged in Europe, because it reduces the value of their income from the Old World when converted into yen. The shares of Japanese exporters groups have therefore lost ground.

Investors have a sharp tongue this morning at the Paris Bourse to the Sodexo. The title of specialist catering opened sharply lower on Tuesday (-0.93% to 53.45 euros), thus one of the largest declines in the SBF 120. Figures released this morning before market had, however, is appealing. In the first nine months of its fiscal year 2010-2011 (ending August 31), the turnover number two worldwide in its sector has in fact increased by 7.7% to 12.408 billion euros. On a comparable basis, sales advanced 5.2% between September 2010 and May 2011.

Confirm what the goal of organic growth of 4.5% of its annual turnover from 2010 to 2011 (target statement in April) and operating profit up "order" 10% off effects.

In a statement released this morning, management also details the performance by division.On the side of its core business, sales service solutions on site (catering services, 95% of the activity), billings were up 5.1% organically, driven by the strong performance of the restoration and services to businesses and governments. "This reflects the dynamism of emerging countries Sodexo," also details the statement said.

Latin America driving growth

As for solutions motivations (gift vouchers, tickets restaurants), there is also a dynamic steady, with sales up 6.2% organically, to 532 million euros. Again, the emerging regions have driven growth, including Latin America, where activity jumped 13.7% of the activity against a withdrawal of 0.9% in Europe.For example, Sodexo won a new contract with the Venezuelan Senate tickets for restaurants, covering 11,150 beneficiaries.

The reaction of the markets this morning is not worrying, investors took some profits after a rise of 13% of the title for four months. More than 18 times earnings estimates for the current fiscal year, the title is rather highly valued, which may also explain the correction on Wednesday.

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Renault is working to revive its sales in Europe in 2012. The automaker, whose image was tarnished by the case of false intelligence to launch a "flurry" of new products next year on the old continent, said La Tribune.

Starting with the renovation of smaller models. The group of diamond brand and will revamp its Twingo "with a front face far more original," says the group business daily. No time to breathe, the group will then present its model for electric car Zoe in March 2012 at the Geneva Motor Show prior to the market at a price of 15,000 euros from August 2012.

Then, the Clio IV will land on the market. The aim is to produce 450,000 Clio IV year, said La Tribune bad credit pay day loans. The vehicle will be produced in Bursa in Turkey but also Flins, near Paris. The new Clio will replace the previous ones.

New Dacia

On the Dacia brand, the group plans to launch a "compact van." Then the manufacturer will present models of renewed Logan and Sandero. These vehicles will be sold under the Renault brand outside Europe and Africa.

In the longer term, in 2014, new small city car produced in conjunction with Smart (Daimler) will emerge. Twingo a third version, and a smart four-seater will be produced on a single platform based in Slovenia. The year 2014 should be the revival of high-end vehicles.

A dozen days after an employee is killed at the site of the nuclear reactor of the third generation EPR under construction at Flamanville, the newspaper L'Humanité reveals that the Nuclear Safety Authority (ASN) denounced a "deliberate process" of non- -reporting of accidents on the site, particularly on the part of Bouygues. In a report dated June 6, Constable nuclear lists 112 accidents occurred in 2010 on the site of the EPR with 38 accidents "to report has not been the subject of a declaration." Thus, about one accident in four has not been under declared.

ASN emphasizes the responsibility of employers, including Bouygues, which controls the civil works on site and Elco Construct. "In many cases (at least 11 examples for the group Bouygues and 8 Elco), these employers were informed of the accident.They also had knowledge of the regulatory requirement to report any accident, "wrote the Authority, adding that this proves" intent to evade the information of the inspector's work and thus to divert the surveillance "of it.

Bouygues denies responsibility

In January, when another worker, 37, died after falling from 13 to 15 meters that the CGT Bouygues accused of being responsible for the accident, and claimed to have provided the Justice documents showing that the giant construction labor law trampled on the site of Flamanville cheapest personal loan rates. A spot investigation for "manslaughter" was opened by the prosecutor of Cherbourg. And last April, ASN insiqué it was beginning an investigation of "under-reporting of accidents at the site of the EPR."

At EDF, prime contractor for the project is ensured then "make every effort" to improve the situation. The site manager was replaced a few months ago. But according to Bouygues, which controls the civil engineering of this project over 3000 workers, non-reporting of accidents "are personal initiatives." Twenty people-safety recall "regular" instructions. According to the unions, a dozen subcontractors are involved in these accidents.

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Background music, soft lighting, warm colors (brown and fuchsia), wooden floor and comfortable temperature: it is almost like a trendy bar. Yet although a supermarket of 550 square meters, opened two weeks ago in the heart of Marseille and named a new sign, "Unlike our competitors, with their sizes or City Express, we want to customers to spend time in store, "says Jean-Pierre Lanzetti, CEO Casino Near (Petit Casino, Vival Spar, Via Italia).

Casino Shopping and smaller version, Casino Shop (for stores with less than 350 square meters), may well flourish everywhere, if the group is satisfied with its test stores. After Marseille, a second will open in early July in Saint-Etienne, home of Casino, and eight small casino (in Lyon and Toulouse in particular) will be processed before the end of the year.The identity of the 1,800 stores, including "the grocer is a great guy" is fourteen years old and needed to be brought up to date.

Casino would react. Most of his competitors in fact lead the last two years an unprecedented drive to win in the city center, where the band Saint Etienne, which also owns Franprix and Monoprix, is in a strong position. Carrefour (City Express), Auchan (City and A 2 Step), Intermarché (Express) and Système U (Express) are all involved in a renovation or repositioning their format.

Deployment in 2012

"We take the time needed, the possible deployment of Shopping Shop and intervene only next year, wants to warn Jean-Pierre Lanzetti free business cards. The company decided to change many parameters at once.Employees are identified by their first names, the furniture is curved, the loyalty card enters and fresh produce, other than fruit and vegetables, are behind the doors are transparent, allowing the passage to reduce the energy bill of a quarter.

"We mainly worked on the set," says Jean-Pierre Lanzetti. Ranges and frozen drinks have been reduced in favor of fruits and vegetables and a large beauty department, which was missing in the Casino supermarkets. Creams, mascara and brushes already represent 15% of revenues Shopping Marseille. Of the 9000 references proposed products snacking Chez Jean (another sign of the group being tested since early 2009), and decorative packaging items from many parts of France. One can even order his coffee machine via a touch screen.Ultimately, this approach to extend the offer could affect other products.

To combat the image of dearth of supermarkets in the city center, prices have been reduced "from 15% to 18% compared to an equivalent Petit Casino," says the general manager of the branch nearby, betting on higher volumes .

The company has another trick: it forms partnerships with its suppliers to its customers enjoy benefits fidelity on Kronenbourg beer or cookies BN: "We have 100 partners to date that offer our clients 10 to 25 % discount, by September we will have 400, "says Jean-Pierre Lanzetti.

Measures deemed insufficient. Farmers are almost unanimous in the result of measures announced by the Head of State yesterday in the Charente, including the provision of advances on compensation, exemptions from social contributions and deferred debt.

The President of the Republic "leaves farmers in their thirst," said a statement from Rural Coordination. "The agonizing question of farmers, as how to buy the additional food needed to feed a proper straw-based (for livestock), does not seem to touch the mind of Nicolas Sarkozy," regrets the union. Rural Coordination also reiterated his request for "make available the farmers two million tonnes of cereals in 2011 is intended to produce biofuel."

Another minority union, the Confederation Paysanne, made the same request, and indicates in its brief statement that the announcements made by the president are "insufficient". The union is also seeking the postponement of one year of all maturities of borrowings (2011 paid in 2012 and 2012 paid in 2013) and "zero-interest loans offered by all banks to farmers to aid payments Common Agricultural Policy (CAP) October 15, 2011.

FNSEA satisfied, but relativized

FNSEA, the main farmers' union, is the only one to be satisfied with the measures announced by Nicolas Sarkozy yesterday, saying that the Head of State "became aware of the situation" of farmers and its urgency. Its president, Xavier Beulin, welcomed the "emergency response" proposed.He also welcomed the establishment of a five-year plan to create water reservoirs and reduced volumes of water used by agriculture.

However, the president of the FNSEA expects the figures for the consequences of drought, which should be known in early September. He estimates it will then probably look at more structural measures, and direct payments to certain farms.

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Who would have thought the always cautious Jean-Claude Trichet capable of launching such a stir in Europe? Five months after the end of his term as European Central Bank (ECB), the Governor, who found himself back on Thursday a prestigious award in Germany for the title of his contribution to European unification ", took the opportunity to deliver a will in the form of scathing: "Would it be too bold an economic standpoint, a single market, single currency and a single central bank, to consider a finance minister of the Union?" A proposal which requires no more or less, to revise the European Treaties … This hypothetical finance minister, seen by Jean-Claude Trichet, should ensure that each Member State's compliance with fiscal rules and competitiveness criteria dictated by Europe . And if this is not the case, it would have means of intervention.In short, what elicit strong reactions from Member States, always jealous of their sovereignty. However, the governor insists that wiped the plaster of the single currency, "interdependence means that countries do not have full internal facto authority. They may experience crises caused entirely by the adverse economic policies pursued by others. " Clearly, the worst loss of sovereignty is not accountable to a European authority, but to see its economy to its knees because of the excesses of its neighbors, such as Portugal just made the bitter experience business card.

A veto

The Greek debacle – Jean-Claude Trichet was careful not to comment directly – is at the heart of his argument. How to avoid crises in the euro area? With more monitoring. But also how to manage them when they erupt? Much more proactive."In the current scheme, all decisions remain in the hands of the country concerned", said the central banker, hoping to capitalize on annoyance with the efforts judged inadequate in Athens.

In the future, he advocated a policy in two steps to help struggling countries. "At first, it is justified to offer financial assistance in the context of a strong adjustment program. It is appropriate to give countries the opportunity to redress the balance for themselves and restore stability. "But if that does not work, the Governor argues for a direct influence of Frankfurt and Brussels."One might imagine that the European authorities have a right to veto certain decisions of economic policies." Of the major tax expenditures, for example. In short, if in Aachen, Jean-Claude Trichet cited bulk Erasmus, Victor Hugo and Kant, it was the accent of Martin Luther King that animated: after eight years at the ECB, the Europhile could have concluded " I have a dream "…

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British phlegm is not what it was. Exasperated by American diplomats who refuse to pay the London congestion charge ", the congestion charge in place since 2005 to move or to park in the capital, the conservative mayor of London, Boris Johnson, has decided to directly attack the President Barack Obama.

Taking advantage of his official visit this week in Britain, he decided – not happy with him claiming some 8.7 million euros in arrears – all cars of the procession would pay tax like everyone else. Starting with the Cadillac of Chief of the U.S. state, nicknamed "the Beast" by the Secret Service because of his size and armor that are, according to experts, a real tank on wheels.Transport for London, the agency responsible for managing the toll, which depends on the mayor, is trying to calculate the bill at the rate of 11.50 euros per day per vehicle.

The Pope, himself, had nothing to pay in September 2010 but says Boris Johnson in the Evening Standard, the roads were closed to other traffic, while this time, they were not . And beware of other heads of state who want to go to London! All diplomatic missions should in fact the tune of 59 million.

What partly explain the irritation of the elect, who has seen the end of March a half-million English between Westminster and Hyde Park to protest against cuts in the government.