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A territorial policy of social housing, that is to say building in priority areas in deficit, such is the ambition on Wednesday by Secretary of State for Housing. Two days after the publication of an alarming report of the Fondation Abbé Pierre on poor housing, Benoist Appearing presented the draft state for 2010, namely to contribute up to 4.7 billion euros to finance 140,000 housing, half in Ile-de-France, Rhône-Alpes and Provence-Alpes-Côte d'Azur, the zones "tense". The program is ambitious, even by the balance of 2009 when 120,000 housing units were built "three times more than in 2000, the ministry said.

4 billion tax form

But if the Social Union for Housing which manages public housing can not approve a policy that it "calls for two years, is on the question of financing the rub.The state budget provides for the payment of 624 million euros to public housing agencies as aid to the stone. The rest of the state aid-more than 4 billion-will take the form of tax incentives (VAT, property tax, preferential interest rates). "The $ 624 million is less than 660 million euros achieved in 2009, and far from the 800 million budgeted in 2008," laments Pierre Quercy, general delegate of the Social Union for Housing which manages public housing best payday advance . "We're going to build a priority in areas of shortage, and therefore more expensive, but with less money," says the delegate general who believes a more realistic assessment of the number of homes built to last 100,000.

At the Department, any accusation of declining level of aid is denied."The effort of the State is not limited to 624 million euros of aid to the stone, take into account the full support of 4.7 billion euros, which will build 140,000 homes social, said the firm Benoist Appeared. Construction or purchase. As announced Tuesday the secretary of state, public housing agencies will be able to acquire any vacant units to turn them into housing. Another idea supported by the Social Union for Housing, but according to Pierre Quercy will face the same problems of funding. "We estimate that 350 million euros of state aid would be needed to buy 10,000 housing units in the tense areas," said the delegate general. What largely begin the budget.

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While the National Assembly must address on Tuesday on the shutters "great debt" and "Taxation of banks' of the supplementary budget, Eric Woerth, the budget minister, said on France Info this morning that" the impact of large borrowing on the government deficit in 2010 is limited to 2.5 billion euros, or 0.1 points of GDP, while stressing that he was "loaned funds, which will be refunded. Eric Woerth said the need to "reduce our structural deficit, but by the activity that will recreate the recipes that have failed during the recession."He recalled that the forecast deficit passed Monday evening in Brussels indicate a return to a level of public deficit below 3% of GDP, in line with European requirements in 2013, assuming a growth of 2% to 2.5% .

Another topic to be discussed by MPs today, charging the banks should "be subject to parliamentary debate," said Eric Woerth, adding that "it is essential to tax speculative activities.

A minister little to say on pension reform

Regarding the proposed pension reform, a project which must be opened after the regional elections, the budget minister has shown little to say cash advance to savings account .He merely noted that it is a "big issue" and that "all options for reform are on the table."

Also arrested on the law of mobility of staff, Eric Woerth has detailed the operation: "the law of mobility must allow officials to move easily from one jurisdiction to another. An official unearmarked, because his position was eliminated as in private careers, will be entitled to retraining and individual training, which did not exist before. It will then propose a post. It will address three refusals, but then, it will be laid off. "Eric Woerth has assured that" the family and geographical constraints will be taken into account. "It concluded that "after three refusals, it is normal that the employee leaves the terminal, because it means that the person is more motivated to work in administration."

To those who accuse him of wearing a type of speech 'administration, you love him or you leave her', Budget Minister has assured that "this reform can finally build a real human resources policy in the Administration, with merit promotions. "

The largest U.S. bank, Bank of America, has experienced a greater loss than expected in the fourth quarter because of the cost of credit, says in a statement Wednesday.

Over the last three months of 2009, the bank recorded a net loss after minority interests of 5.196 billion dollars against 2.392 billion a year earlier, or 60 cents per share, while analysts on average expected a loss of 4 , 5 billion, or 52 cents per share. "Certainly it's disappointing loss to publish the fourth quarter. However, it should not overshadow our many successes, "said Brian T. Moynihan, president of Bank of America. Firstly, we repaid the U.S. government. Secondly, we strengthened our balance sheet through securities offerings successful. Finally, all our non-credit operations had a positive impact on our results.

Net banking income (equivalent of sales) of the bank, to 25.076 billion dollars, is also revealed in below expectations of Wall Street analysts who had forecast on average 26.84 billion in free business cards .

Bank of America has suffered a decline in demand for loans and "portfolio management debt" compared to a year ago while its revenue from market activities have strongly rebounded. "We are heartened by the resurgence of the economy for 2010, through the stabilization of our cost of funds. However, economic conditions remain weak and we expect that unemployment continues to rise. This will therefore penalize consumption and growth. "

Friday, JP Morgan Chase announced a net profit of 3.278 billion dollars (2.27 billion euros), a figure four times over the fourth quarter of 2008. Net banking income (equivalent to the turnover) amounted to 23.164 billion dollars over the same period against 17.226 billion in 2008. Levels well below expectations of analysts who had forecast at 26.2 billion. Tuesday, Citigroup posted a net loss of nearly 1, 6 billion against $ 27.6 billion in 2008.

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The French do they realize the inevitability of the efforts to achieve a satisfying retirement? This suggests that a poll published Sunday in the JDD. According to this consultation Ifop *, breaking with previous surveys on the subject, 41% of respondents said they were ready to contribute more to retire as soon as possible. The average age of starting accepted amounted to almost 62 years, one third of respondents saying the same for departure between 65 and 69 years. A first. Because of this development, the level of concern by the amount of future pensions continues to grow, 76% of respondents reported little confident, against 61% a little over a year.

If the French are therefore more willing to make sacrifices, they do show, however, little lenient with successive governments.They are in fact 40% believed that the pension system has not really been up to this reform, while 48% believe that those assets have gone done the wrong way.

An instructive survey, a few months of a new launching system. The Head of State has chosen last year to advance the timing of the pension reform from 2012 to 2010. If the CGT said the current system "viable", the secretary general of the CFDT François Chérèque decides in contrast to the introduction of a points system, more personalized than the current system, as was done in Sweden. For now, the government appears not convinced, saying the country had recently suspended the system. If considering a reduction of the legal age of retirement now set at 60 years, a dues increase does not seem so far not in the agenda.

* Conducted the 7 and 8 January on a sample of 1019 persons, representative of the French population aged 18 and older, including 522 active. Quota method. The interviews were conducted by telephone at residence of respondents.

Tax revenues of local governments will increase substantially in 2009. This is announced by the Directorate General of Local Authorities (DGCL), in a note released Wednesday. The DGCL estimated that the four direct taxes tax, residence tax and taxes on land and buildings not built should bring $ 71 billion to local governments. The increase in local taxes would be 8.1%, nearly double the increase of 2008 (+4.4%). This increase is explained by buoyant tax bases (+4.7%) and a significant increase in rates (+3.4%). This increase affects all communities but especially the departments and municipalities. "The departments have their rates increased more than other communities," said the DGCL, considering the increase of revenues to 11.4%, including 6.3% due to higher rates.Conversely, "the development of overall tax revenue from other communities still more effect than the base rate effect".

According to the notes, business tax, hotly debated in the context of discussions on the 2010 budget, expected to yield 31.3 billion euros, the housing tax 16.5 billion, the tax on built property 22 3 billion and that the undeveloped 880 million. Local taxes are 39% of operating revenue of local governments.

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Very good month of October for new car sales in France. According to figures released Monday by the Committee of French Automobile Manufacturers (CCFA), new registrations have increased by 20.1% in October. In all, 210,140 new registrations were recorded during this month, an increase of the market by 25.6% on a working day adjusted. October were 22 working days, against 23 in October 2008. In September the market had already been marked by a significant jump (+14.1%).

In October, the French brands achieve very good performance with an increase of 21.8% for PSA Peugeot Citroën (+7.2% in ten months) and 34.5% for Renault (+6.3%% on ten months). On Nissan Motor, which Renault has a share of 44%, sales rose 39.9% last month. Since January, Nissan's registrations are up 7.1%.Foreign brands generally have their registrations rise by 14.1%.

According to François Roudier, spokesman for the CCFA, the market has again benefited from the triple effect of scrapping bonus, bonus and ecological attractiveness of the new models that appeal to customers and were heavily controlled . The result is disappointing in contrast to the light commercial vehicles (-22.4%) and trucks (-54.5%), road transport and construction through a difficult economic phase.

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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.

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 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.