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A real setback. Household consumption of manufactured goods fell 0.5% in January, according to figures released Friday by the INSEE. Other bad news, the jump in spending by French observed in December was revised down from 0.6% to 0.4%. The decline in January mainly due to the drop in auto purchases by 6.3% in January. In addition, purchases of textiles and leather fell 1.8% despite sales.

Cushioning the fall, spending on household equipment held up well, up 2.4% on the month "because of the dynamism of furniture purchases," said INSEE. "Other manufactured products", such as watches and jewelry, DIY and hardware rose 1.1% in January. These figures are "clearly encouraging", says Dominique Barbet, an economist at BNP Paribas."They are more in line with the strong confidence of business leaders found earlier this year with the declining morale of households freecreditscore."

Households increasingly fear a return of inflation, Insee said in the release of the index of consumer sentiment on Thursday. Involved, soaring oil prices which "the psychological impact is very important," as emphasized Alexander Law, chief economist at Xerfi. Particularly because it is a recurring purchase for households. "This climate of suspicion certainly attend a further drop in consumption over the coming weeks," said Alexander Law, chief economist at Xerfi."Without alternative sources of growth, French economic growth will suffer inevitably."

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A week after being suspended due to software piracy, the European Climate Exchange will not start to a trickle on Wednesday. The platform for exchanges of Paris, Bluenext, which handles about 40% of carbon credits exchanged for cash in the European Union, will not reopen, nor ECX London. Bluenext expects the market to be officially served the securities that were stolen last week. For it is a theft committed by breaking computer, this time, tarnish the CO2 market established in 2005, already tarnished last year by a wide VAT fraud.

On 19 January, a broker Czech warned the European Commission, coordinator of the market, 475,000 carbon credits, worth $ 6.3 million, had disappeared from his account.In total, according to Brussels, 2 million licenses (worth nearly EUR 30 million) were stolen by hackers from the registers Czech, Austrian and Greek.

The some 12,000 industrial sites in Europe subject to emission quotas of carbon dioxide (CO2) are enrolled in national registries. Companies that exceed their quotas can buy carbon credits (one credit = 1 tonne of carbon) while companies can sell virtuous.

"Restoring confidence"

Other actors, brokers, banks or even individuals can open an account on the register to exchange carbon credits for cash or futures (derivatives market) on various platforms like Bluenext. Protections computer half a dozen records are inadequate, found in Brussels."The Commission is finalizing the definition of minimum safety levels," said Peter Zapfel, Directorate General for Climate Action best payday advance. In France, Caisse des Depots et Consignations (CDC) is the keeper of the register, which, say several sources, was not attacked. "The market is shaken" by this new case, recognizes Keiron Allen, director of marketing for Bluenext, all players must restore confidence. " "But we must not forget that it works and it helps reduce emissions of greenhouse gas emissions," he adds.

Today, each tonne of carbon Virtual European market is identified by a serial number.A warning system would alert the brokers when loans are subject to suspicious transactions could be generalized, suggests there be in Bluenext.

Still in its infancy, the Exchange of CO2 must start its third phase in 2013, where the credits will no longer be allocated initially free but sold at auction. Brussels plans to bring together the twenty-seven national records in a single, more secure.

"If there is a market to watch, where the risk exists of Far West is that of CO2," warned last month Jean-Pierre Jouyet, the president of the Financial Markets Authority (AMF). That is why in the coming weeks Bluenext will officially become a regulated market, overseen by the AMF.

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"Jouyet to avoid the Wild West on the carbon market

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Hu Jintao, Chinese President imperturbable, he appreciates the jokes? His state visit to four days in the U.S. has not given more keys to respond. But hopefully for Muhtar Kent, CEO of Coca-Cola. To welcome the move to Washington to host such a prestigious and powerful, the iconic boss had taken the trouble to learn some Chinese words.

At the end of his welcoming speech, he has embarked on a toast in honor of President Hu and his delegation intended to remind its guests the best traditions of their homeland. But far from the expected emotion, warm "Kanpai!" Earned him that sarcasm and laughter payday loans online. So good that he should start Mandarin "Ganbei!" Muhtar Kent, President Hu was greeted in Japan. The confusion between two languages powers close to war was a long time but obviously not very happy.

But, for his part, Hu also likes sometimes deviate from the beaten path of diplomacy. He returned to the press on the historic nature of his encounter with Barack Obama. "It was the first time I met a Nobel Peace is not in jail," he said.

Snow plays tricks on the euro. Christine Lagarde has missed an appointment Thursday with his German counterpart Wolfgang Schäuble, who was speeding at twice the site opened last EU summit: the economic convergence between Paris and Berlin and building the future "IMF" European.

Nicolas Sarkozy and Angela Merkel have promised to work in the early weeks of 2011 to greater harmony between France and Germany on the fiscal, economic and social development. The sixteen countries of the euro area have also pledged "to be finalized by March" plans of the European Stability Mechanism (SPM) in 2013 which will take over from the current interim bailout fund.

If the principle of convergence is acquired, the sensitivity differences emerge from the implementation, including within the Franco-German couple.The preparation of the meeting in Strasbourg, at first secret and finally canceled, provided confirmation: economic governance, the key fiscal and debt return to growth in Europe, Berlin and Paris keep opposing views.

"Strategic decisions must belong to the states and their leaders. To them the last word, "Christine Lagarde insisted Thursday, taking the French argument, in an interview with the daily Sueddeutsche Zeitung. Viewed from the German side, the European recovery would rather rely on an institution as independent as the Bundesbank is now under the joint control of national parliaments.

Loans Unlimited

This is the central proposal of a working paper of the federal authorities, including Le Figaro has obtained a copy.Berlin has denied it is a formal proposal, approved by the Chancellor, or even by Wolfgang Schäuble. But they have not denied the content. This is a trial balloon, intended to mark the position of Berlin before the eyes of fifteen other countries of the euro does not undertake before the real discussion.

Renamed the European Investment Fund Stability and Growth in the German version, the MES would be a parallel institution to the European Central Bank (ECB) in Frankfurt. By prior agreement of the Sixteen, it would normally have a capacity of refinancing "unlimited." It would provide "emergency" loans strictly conditioned to the euro countries in difficulty.

In return, recipient countries should give him the equivalent of 120% in senior secured (gold, securities of public companies, etc.)..On a voluntary basis, the fund would also proceed with the rescheduling of debts. If the question was allowed, this very policy confirms that Berlin "has a national interest in the sustainability of the euro".

But it marks equally clear that countries of the euro "should meet German expectations. (…) Is to Germany, as an economy of casting the euro area, it is up to be the anchor of stability. "In short, setting the tone.

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Stéphane Richard, CEO of France Telecom, took the podium Idate forum that brings together all the leaders of the telecom sector in Montpellier, to request the establishment of a "pricing of network usage Internet "that would be paid by content providers like Google, Facebook or Yahoo. "The use of the network needs to be priced, large emitters must contribute traffic based on traffic they send. It is an issue in relations between Europe and North America, said Thursday Stéphane Richard.

He explains that telecoms are "ready to carry out programs of heavy investments in fixed and mobile networks."But those investments must be based on "a balanced business model and a fair sharing of value between content providers and operators," insisted the CEO of France Telecom. According to Stéphane Richard, now, the giants of the Internet benefit greatly pipes installed by the operators. "The return on capital employed" for these new players in the Internet "is much higher" than the telecoms instant credit report. It is his view of "33% for Google, 18% for Apple and 10% for us, the incumbents'.

High revenue

Operators are more inclined to demand a cost-sharing networks quickly they will have to spend money to obtain licenses from the fourth generation mobile (4G).The telecoms regulator (Arcep) will launch the consultation on the future licensing 4G technology, which should take over the current 3G.

The government, which needs money, provided for a licensing in July 2011 to raise the revenue related – he hopes the highest possible – in the 2011 budget. But the political calendar does not match that of the operators, who feel they have no need for the moment these new frequencies. They are not especially eager to pay a high price while they are still investing in the new version of their 3G network and that they still largely sufficient to meet the needs of their customers.

No G20 has been so well prepared. But no G20 will, either, been so confrontational, so it comes at a key moment for the credibility of this forum of the twenty largest economies in the world. Revived by the Fed's decision to inject $ 600 billion of liquidity to support the U.S. economy, the war of tossed the exchange program Oiled Korean presidency, openly opposing the U.S., Europe and emerging countries payday loans.

For many commentators, the eighth day of mobilization against pension reform scheduled for today, Saturday, akin to a "symbolic gesture". For the eighth time in two months, the unions called for a new day of event: 241 marches are planned in the area. But skepticism weighs on the scale of the movement, now that the law was passed by parliament. The first six days of mobilization, including two held on a Saturday, have collected each time millions of people, according to unions, and around one million, according to police. But last October 28, following the vote marked a sharp reflux, with a peak split in half – 560,000 according to police, nearly two million according to the CGT-stop background of strikes, particularly in refineries.

In addition, differences on the effect of movement seem to appear between the unions.The CFDT, pessimistic, appears to outline a crisis while the CGT promises to go through. The number one of the CFDT, Francois Chereque, ruled Friday that the mobilization could now be "back" Nicolas Sarkozy, left to temper the enthusiasm of protesters. "On the subject of pensions, we will now move away slowly," he said on Canal +. "If I say today" we will roll back the president, "I do not think anyone would believe me. We say this, he dreams, "he added."We talked a lot about pensions because the government has accelerated the reform because of the crisis, now we return to the elements of the crisis: massive unemployment, youth unemployment, older, working conditions, the hardship, these are topics that will express in the coming months, "he said.

CGT: "A sequence that can not be that of renunciation"

The determination of the CGT remains rather intact. The organization will continue to mobilize, including whether the bargaining unit cracks, said its general secretary Bernard Thibault, Saturday, in L'Humanité. "Today represents a new high. There will be others. CGT will end up, "warned Bernard Thibault, who said" the movement is deeply installed in the country. " The secretary general of the CGT said that "laws are constantly subject to revision.""The social movement is entering a new sequence that can not be that of denial," he says, criticizing the fact that "some push for alternatives that are either, to give appointments to presidential elections, or to take for granted the rendezvous of 2013 set by the government to overhaul the pension system. "

The scope of the mobilization of Saturday will be scrutinized by the unions. It had reached agreement Thursday on a new "appointment" to mobilize between 22 and 26 November, the details of which will be set Monday. Government and unions have also staring at the Constitutional Council, by the PS, which must approve the reform by December 2.The President of the Republic may promulgate the law, which rejects 60 to 62 years the age of retirement and 65 to 67 years of age for a start at full rate, within 15 days of the downstream of Wise.

(With AFP)

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Just days after the midterm elections, U.S. employment surprise. The United States has created 151,000 jobs in October, according to figures from the Labor Department. This is more than double what economists predicted (60,000).

The Labor Department on the other hand lowered the number of job losses in September, to 41,000 against 95,000 initially announced.

Private companies have created 159,000 jobs, 107,000 in September cons. The public sector has destroyed 9000, against 159,000 the previous month.

The unemployment rate, calculated on a different basis, is itself remained stable at 9.6%. Its highest level in a generation.

At 13:30 Paris time, the index futures Standard & Poor's 500 and Nasdaq 100 advanced 0.60% respectively at 1190.20 points from 0.61% to 2142 points, suggesting an opening up of equity markets U.S.. The Dow Jones was expected to rise from 0.44% to 11 139points.

On Monday evening, penalized late in the session by banking stocks, Wall Street ended with no clear direction, more conservative than one week before high-risk: the Dow Jones gleaned 0.06%, while the Nasdaq lost 0, 10%. The NYSE had yet shown up in early trading, buoyed by better than expected figures on manufacturing activity in China, then in the afternoon, the United States.

Markets remain on Tuesday, on the defensive before the results tonight, the results of parliamentary elections in mid-term United States.A decisive vote ahead badly for the presidential majority. But investors expect even more after the meeting of the Monetary Policy Committee (FOMC) of the U.S. Federal Reserve (Fed) on Wednesday evening.

If further monetary easing measures are already acquired, opinions differ, however, the magnitude of the boost that could lead the Fed to the U.S. economy.

Side currency, the euro, which had fallen back ground on Monday night against the greenback, to increase again this Tuesday morning, traders remain cautious as we begin today's FOMC meeting the Fed.The euro has strengthened throughout the morning to exceed $ 1.40 to 13.30.

JPMorgan Chase, Pfizer, or Mastercard to follow

Side firms, publications quarterly results continue, with, in particular, Electronic Arts, Kellogg's, MasterCard, Medco, Marathon Oil, NYSE Euronext, Pitney Bowes etPfizer. The world's number one pharmacy was more resilient than expected in the third quarter despite a net profit down 70% to 866 million, due to costs related to integration of Wyeth, "he said Tuesday.

Bank stocks remain supervised Tuesday.Trade has indeed been marked on Monday, at the end of the session by falling bank stocks in the wake of an article published on the website of ProPublica, an independent body "inquiry in the public interest" reporting the existence of an investigation by market authorities on U.S. bank JPMorgan Chase (-0.56% to 37.42 dollars).

Furthermore, the monoline Ambac is not recovering from the financial crisis and can no longer meet the interest on its debt. Title collapsed yesterday in the New York Stock Exchange, to 50.15% to 41 cents, after the credit enhancer has announced that he might have to open insolvency proceedings if it proved unable to find agreement on its debt.

The Asian subsidiary of insurance giant AIG-American life has come to raise 20.51 billion dollars during its initial public offering in Hong Kong.AIA is within the top 3 largest IPO in the world

While large retailers announced this morning that thousands of service stations are out of stock and that the strikes are continuing in the twelve metropolitan refineries, truck drivers have joined, as they had suggested this weekend, mobilization against the pension reform. As a result of blockages or deposit of industrial zones are multiplying across the country. Some have not taken the night, others are continuing this morning.

Thus, thirty unionists since Sunday night block inputs and outputs of a logistics site in Carbon-Blanc (Gironde), which supplies fresh produce every supermarket group Auchan's southwest, officials said Monday morning from a trade unionist.According to Jean-Pierre Mespoulède, EDF employee and trade union CGT, teachers, railway and road transport workers involved in picketing, which aims to "stop the manufacturing process of wealth in order to get negotiations with the government"

At Le Mans, where the road had established roadblocks filtering 22h Sunday night, the area south of the industrial area was still blocked Monday morning with a hundred protesters, all unions combined. The trucks are stopped using harrows craft and forced to park at the roadside. The congestion created totally prohibits access to oil depot of Le Mans.

Deposits and oil terminals blocked

In the middle of night, the two oil depots of Caen and Ouistreham in Normandy, as well as that of Saint-Pierre des Corps, near Tours, was blocked again.These three deposits had already been blocked for several hours last Friday. Began around four o'clock that night according to police, the oil terminal in Port-la-Nouvelle (Aude) is also blocked on Monday morning by a hundred people on foot, mostly truck drivers, which prevent all trucks come and replenish. "We'll stay on until we can," said Joseph Sieiro the CFDT Transport Languedoc-Roussillon adding that he expected that "reinforcements interprofessional" are involved in blocking the course of the day.

The oil terminal at Fos-Lavera near Marseille, entered his 21th day on strike, blocking roads in 61 vessels including 47 tankers. To Lyon, blocking the fuel depot of Saint-Priest was up early this morning."We have blocked access to the deposit of one hundred trucks to deliver supplies from supermarkets and we left around 6:30 as planned," said Secretary General of Transport Rhone CFDT.

The game of cat and mouse

At Lorient (Morbihan), the game of cat and mouse continues. About thirty demonstrators blocked to half past three this night, a roundabout giving access to the port area where they were evicted by police an hour later, said Jean-Paul Le Dantec, the CFDT. Around half past six, the protesters, who received the backing of dockers, again blocked access to the port area. However, the oil depot was under control of law enforcement, "he said. In Brest, it is students have stepped in to block the protesters from the port fuel depot.At first repulsed by the police, they retreated to the two roundabouts leading to the filing, denying access to the port to thirty trucks.

In Dunkirk, dozens of opponents of pension reform try to block this morning two fuel depots, according to union sources. Of road, railway, and employees were present to form Total dams block both human and deposits, playing "cat and mouse" with police, according to Philippe Wullens, Steward South Total refinery at Dunkirk.The prefecture, which confirmed the presence of 80 demonstrators, however, indicated that the deposits were not blocked.

Tension mounts between government and unions

Despite these many obstacles morning, FNTR, the main federation of motor carriers did not expect Monday at ten o'clock, a social movement to scale in the sector. "Trade unions of employees to succeed nationally to mobilize a few hundred employees but we do not think it could be a widespread movement," said Nicolas Paulissen, Executive Assistant FNTR

For his part, Christian Estrosi industry minister said on RTL radio: "There will be no obstacle for companies, not blocking transport, not blocking the road users." Last night on TF1, Prime Minister Francois Fillon has warned the protesters."The right to strike is not the right to prevent access to a fuel depot, it is an illegal action," he said. "I will not let our country block, I will not let the French economy choked by a blockade of fuel supplies." Right before the Interior Minister Brice Hortefeux had said he would appeal again "if necessary" force to "unlock the deposits."

While the government is sticking to its positions and hopes a slowing of movement, the unions are desperate to reopen the debate. "The country is not blocked. That said, the disruption on daily life begins to be real. The country is rooted in the mobilization sustainable, "warned the CGT leader Bernard Thibault, who has called for" suspend "the votes in the Senate."If the dialogue resumed this week, the problem is solved," urged his counterpart of the CFDT, Francois Chereque, about the "risk of economic stagnation."

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