The American economy has destroyed 125,000 non-agricultural jobs in June against 110,000 planned. This is the first time since the beginning of the year that the U.S. economy is destroying jobs and the number of registered job destruction last month was the highest since October 2009.

The private sector has created 83,000 jobs, however, against 33,000 in May and 112,000 expected by the market. Despite the job losses recorded in the month, the unemployment rate of 9.5% in June, its lowest level since July 2009, against 9.7% in May Economists expected a rate of 9.8%.

The figures, preliminary unemployment weekly published Thursday, however, very disappointed. "For three months, enrollment weekly unemployment are the yo-yo around a trend average of 462,000, economists are of Oddo Securities. The dismissal of the enumerators of the population, down sharply in June (see Chart 3 above), could affect these results, but, anyway, the job recovery seems decidedly weak. "

Europe and China in the minds

If the relatively low funding requests from European banks with the ECB reassured yesterday, the threat of a downgrading of the rate of Spain by Moody's, the clouds that accumulate on the growing global concern, however, more than never the United States.Several indicators, unemployment and housing U.S., in fact, yesterday, had a marked fall in European markets, while Wall Street has finally, paradoxically, proved to be more combative resistance payday loan lenders. The weakening of the greenback against the euro is perhaps helped. The late publication of monthly sales of car manufacturers, sharp rise, too.The sixth meeting of decline has been less severe than expected, the Dow ended down 0.42% to 9732 points and the Nasdaq fell 0.37% to 2101 points.

While the downward revision of growth prospects of China Conference Board had, following a calculation error, contributing to a decline in the markets earlier this week, China could reassure the contrary on Friday: it comes into effect to announce the revision of the growth of its gross domestic product from 2009 to 9.1% against a previous estimate of 8.7%.

Google buys ITA

As for values, Jeffrey Immelt, the head of U.S. conglomerate General Electric, has accused China to show hostility towards foreign companies, said Friday the Financial Times (FT), pushing the group to say that his comments had been distorted.The share lost 0.14% to 14.10 dollars.

The engine rechercheGoogle (-0.47% to 437.43 dollars) has announced the acquisition of ITA, a company specializing in information on air transport.

The publisher of games for iPhone Tapulous announced Thursday that he was bought by media giant Disney (+0.32% to 31.59 dollars) to become "leader in mobile entertainment." The terms of the transaction were not disclosed.

Sanofi-Aventis (-2.24% to 29.70 dollars) on Friday refused to comment on information from Bloomberg that the French pharmaceutical group preparing to acquire a U.S. company a value of at least 20 billion dollars. Allergan (6.88% to 62.10 dollars) and Biogen (6.70% to 49.86 dollars) are cited as potential targets

In Hong Kong, the Hang Seng has put forward more than 0.21%, to 19,756 points and the Singapore Straits Times 0.04%, to 2834 points. In Shanghai, the Exchange has started doing the yo-yo, before anchoring in the red: -0.64% to 2697 points.

Monday evening, the finance ministers of the eurozone met to discuss the single currency, which lost nearly 20% since late November 2009 including 13.5% since 1 January.The euro is a "credible currency, said on Tuesday, Jean-Claude Juncker, the leader of Ministers of the euro area.

If this decline in European currencies could help grow the Old Continent, mechanically, through the principle of competitive devaluation, foreign companies suffer a cost of more expensive imports.

Against the yen, the euro down 0.44% and also score 114.7 yen. Levels for 2009 and … early 2002.

The Bank of Japan lends to 0.1%

The Bank of Japan (BoJ) has announced plans to lend money at preferential rates of 0.1%, the interest rate, to companies investing in growth areas, the newspaper Asahi.The central bank should decide in principle on the plan at a meeting of its Monetary Policy Committee this week, before details of the next month, the newspaper said.

This project would support modest growth in Japan low fee pay day loans. In addition to promoting growth, the BOJ has taken steps in recent months to try and halt the deflation that has raged for over a year: It has increased to 20,000 billion yen (174 billion euros) the allocation to provide loans to very low rates to banks.

Back to profit faster JAL

The first Japanese airline Japan Airlines (JAL), currently under judicial restructuring, has set a goal of finding operating income from fiscal year 2010-2011, a year earlier than expected, says Mainichi newspaper on Tuesday.And, thanks to a plan to revive its business that includes an operating profit target of several tens of billions of yen (several hundred million euros) for the current fiscal year.The titles do cotent over $ 0.01.

At the Shanghai Stock Exchange, what are the values of the aviation sector suffering most: China Eastern Airlines: -4.55% to 3.33 Hong Kong dollars despite an increase in traffic in April, China Southern Airlines -3.77%, 3.32 HKD.

Moreover, the Japanese steel companies Nippon Steel (-2.4% to 326 yen) and Argentine Ternium (-2.93% to 33.5 dollars a barrel Monday) announced Tuesday that it plans to invest $ 350 million in common two and a half years in a joint venture in Mexico to manufacture sheets for the automotive sector.

This site eventually produce the equivalent of 400,000 tons "of galvanized steel sheet of high quality and high-grade" for the automotive industry in Mexico, including the Japanese manufacturers on site.

Annual objectives confirmed

However, the group finance director of defense and high technology remains cautious. "Our business is marked by a degree of seasonality. It would be premature to draw conclusions from this first quarter for the full year, "he warned.However, the group confirmed its annual goals: a stable income and an operating margin of 3% to 4%. It aims to build on its new organization – set up in late 2009 – and the first fruits of its "efficiency plan", called Basis Pro, which should reduce the cost of "poor quality" is ie the financial excesses of complex programs. In this regard, Patrice Durand said that "the landscape remains the same" for risk contracts (eg, development of avionics for the Airbus A400M military), because "you can not change radically a program in a few months, "but he adds" we are working hard in conjunction with Airbus.

Resumption of Aviation "uncertain"

The group led by Luc Vigneron remains cautious for the resumption of commercial aviation remained "uncertain" and the group will not benefit from the boost provided by the orders of the French army under the recovery plan. Unlike the budgetary pressure is at its height on the states of the euro area whose deficits have exploded over the past two years and who convert in a pinch. However, defense accounts for 60% in the activity of Thales. The challenge for the group will be to find new sources of growth outside Europe. In 2010 and in years to come.

Also on conviction to a fine of 630 million euros in total (including 15 million in interest) of France in the case of the sale of Lafayette-class frigates to Taiwan, Thales, whose share of the fine represents 27.463% of the contract or its part, has decided to "implement all available remedies" and will soon file an action for annulment before the Court of Appeal of Paris. "As an interim measure, the company will pass on its accounts of the first half of 2010 an additional provision of 35 million euros.

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"I think the Europeans have realized that it was very serious. Greece takes measures very difficult in any case they have put in place a plan that calls for tough measures, "he acknowledged."If we can stabilize the situation in Europe, it will be good for the United States, and it will be good also for Russia."

Realizing the gravity of the situation, the EU should announce before markets open Monday morning, creating a "Community mechanism to intervene" to save the states on the brink of bankruptcy. The European Commission was working on an emergency this weekend to present a convincing ministers of the European economy, which meet on Sunday afternoon. Reflecting the importance of time, Silvio Berlusconi, Italian Prime Minister, and Nicolas Sarkozy, have decided not to travel to Moscow for commemorations of the end of the Second World War.

Week chaotic

European shares and U.S. were closed on very steep declines Friday.Protests against the rigor enameled three died in Athens on Wednesday, and unexplained sudden fall of the New York Stock Exchange during the day Thursday and fear of contagion from the crisis in Spain and Portugal have marked one week chaotic markets.

The statements have increased in recent days to encourage European leaders to act. "We hope to see emerge a strong and rapid European response to crisis", said, quoted by Bloomberg, the Canadian Finance Minister Jim Flaherty, who hosted the G7 on Friday. "We call for an answer as quickly as possible given the circumstances," insisted the Australian Minister for the Budget, Wayne Swan.

The Greeks accept the rigor

Nearly 55% of Greeks prefer an austerity plan to bankruptcy, according to a poll published Sunday in the daily Vima.Over 56% are even willing to accept wage cuts. Contradictory result, however, the same poll found that 53% of respondents felt the need to continue to protest against the austerity of the Papandreou government.

"I think the negotiations will be completed in the next few days," said Ollie Rehn. Traders Greek, European and International Monetary Fund (IMF) are close to agreement on "a multi-year program leading to a major fiscal adjustment, and other structural modifications" necessary to restore public finances of Greece, and back its economy on track for sustainable growth, "he added.

This package of financial assistance by developed countries in the euro area and the IMF will give Greece enough "breathing space", has yet estimated the Commissioner.He declined to say more, stressing that negotiations were not buckled.

The EU and the IMF have pledged 45 billion euros in loans to Greece, including 30 billion provided by 15 other countries using the euro. But many observers now believe it will take a larger envelope for a permanent exit the stagnation Greece. The $ 130 billion is the most frequently mentioned.

The euro area also fears the contagion of the crisis, Greek, especially after the deterioration of sovereign debt ratings of Portugal from Spain Tuesday and then Wednesday, reflecting the mistrust of financial markets and make credit more expensive for the countries concerned.

Consolidation of budgetary rules

"What we need most right now is a clear direction.We need a leadership that can guide us out of this zone of turbulence, "said Jean-Claude Trichet in a speech at the Economic Summit in Munich. He added: "I am confident about the outcome of these discussions," he has simply said, indicating that they should be completed in the coming days bad credit pay day loans. According to the President of the ECB, the financial crisis continues to defy the European economy. He therefore called for an overhaul of EU budget rules and increased scrutiny of government finances.

Supporting the euro and Greece

Since Beijing, French President Nicolas Sarkozy has declared fully committed to support the euro and to support Greece.In a statement to Agence France Presse (AFP), the Head of State said: "The plan agreed by Greece is fully credible, we trust the Greek government and we are working hard to all this is put in place without delay. " He added: "France will play its part. We'll be at the rendezvous.

Nicolas Sarkozy has also insisted on "the perfect agreement between Germany and France" on how to resolve the debt crisis in Greece. "I constantly Chancellor Angela Merkel on the telephone."I was very satisfied with the statements of the Chancellor (…) on the credibility of the Greek plan, its determination to implement the European level to support the euro," he said while Berlin had rather hitherto been very reluctant to help Greece.

For Nicolas Sarkozy, "it should be understood that in this case, it is not only of Greece. This is the euro is our currency. We are committed, this concerns us and a duty of solidarity, we will pay.

"France has put in a position to fulfill its obligations to fight against speculation.The plan has been defined by Europe will be applied so important, we will not allow speculation to act at will to destabilize any country, "said the head of the French government about the crisis triggered by Greek abyssal deficit, which caused panic on stock markets and a fall in the euro.

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This category of the population does not know the crisis."While they represent only 1% of the workforce, people with very high incomes receive 5.5% of earned income, 32% of income from assets and 48% of the windfall revenues reported (capital gains, exercise of options), "INSEE noted in the 2010 edition of its publication The income and household wealth.

Between 2004 and 2007, the number of employees earning more than 100 000 per year has increased by 28% and those exceeding the half-million dollars … 70%! Since 2002, wages rose an average 5.8% per annum in real terms, against a 2.3% increase for all employees on the same period. Three focus areas more than half of these very high salaries: advice and assistance (including sector "business administration" including holding companies, the group headers), financial activities and trade activities Wholesale.

West Paris in mind

40% of these very high salaries are salaried executives who earn on average 230 000 per year, 15% of financial professionals, such trader or chief of a financial service of a large company (290 000), and More anecdotally, for 0.8% of them, the athletes earning almost 450 000 euros on average per year.

Nearly nine in ten very high salaries (87%) are men. "The more you go up the hierarchy, the higher the proportion of men increases," notes INSEE estimated 6% difference in pay between male and female quotas at this level of responsibility.

Another feature related to the experience, they are older (49 years on average) than high wages (45 years) and that all employees (40 years). Only 16% of them are under 40 years.Finally, nearly one in two lives in West Paris, in the three departments (Paris, Yvelines Hauts-de-Seine) where the head offices of large enterprises.

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On a year however, the employees recorded a slight increase in their purchasing power, increased the price index of 0.8% was not enough to cancel the increase of 1.9% of base salary. The Dares note that all sectors recorded an increase of wages in constant euros, although the increase over one year is more important in construction (+1.4) than in industry (1 point).The tertiary sector is in contrast to the average, with an increase of 1.1 points.

Figures released Friday by the Dares confirm that 2009 has been a particularly difficult year for salaries. According to the firm Mercier, increases in median compensation of executives ranged between 1.3 and 2%, 3%, the lowest figures in decades. And even if the recovery is the rendezvous, the year 2010 should not mark significant break, companies still keen to contain their wage bill.

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The unions make wages a priority for 2010

Past Time denials on a "bailout plan", the sixteen Ministers of Finance have written Wednesday afternoon, the scenario during a videoconference decided in haste with the ECB president, Jean-Claude Trichet, and the new Commissioner of Economic Affairs Olli Rehn. Thursday it was the turn of the Heads of State and Government. Paris seemed to confirm an impending decision by saying that Nicolas Sarkozy and Angela Merkel will speak together at the end of the summit."This is a response to market concerns," said President of the Eurogroup Jean-Claude Juncker.

Risk of contagion

The capitals of the euro area are found immersed in financial emergencies. It is no longer helping private banks threatened with bankruptcy, but sovereign states, victims of speculative attacks that threaten the stability of the euro.

Greece, whose fiscal situation is dramatic, can not find a buyer for the debt markets, less than 6% for a state loan to ten years, a price two times higher than Germany.The scenario of failure refinancing of Greece, with an explosion of interest rates, leading to bankruptcy of the country, hanging over all Euro zone.

The risk of infection, reported by the European Commission itself has closed the debate on whether to isolate and treat the first victim vigorously payday advance . "Greece is affected, and everybody crosses their fingers on a much more cumbersome: Spain", notes one diplomat. Treatment thought Wednesday could well be applied to others. "We envision all possible scenarios," said one senior European official.The draft promises to be bitter for the country ill: an infusion of bridging loans and short-term government guarantees, with counterpart, a say close to Europe and / or creditors in the reorganization undertaken by the governments.

These are the states at the forefront Paris and Berlin, who took the initiative. The French and German banks hold nearly 40% of the Greek foreign debt, which is active in mueraient balls if the crisis drags on trust.

Even with a label "European", the injection of state funds – for example French and German – to help a national treasure would be a first in the euro area. The creditors will not invest lightly in countries that already spend for pierced baskets. "Yes, help arrives.No, there is no question of releasing the pressure on Athens, Wednesday secured a European negotiator.

In practice, they are also the states should ensure, with an assiduity worthy of the IMF, that Greece meets the rigor period prescribed by Prime Minister Papandreou.

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Until this agreement, the case n Saab has stopped bouncing. While the U.S. giant General Motors said in December that it simply shut its Swedish subsidiary Saab lack of buyer, the Dutch Spyker Cars was returned to office with an offer the last chance. Rumors surrounding the conclusion of this agreement have been numerous throughout the day. Spyker very careful not wanting to comment on reports that circulated in financial markets.

Spyker Trading suspended

Despite this caution, speculation quickly swelled Tuesday.So much so that the Netherlands Authority for Financial Markets (AFM) has decided to suspend trading in the Spyker action on the exchanges of Amsterdam at 12:45 GMT and that "until further notice" creditreport . The title of the Dutch manufacturer had gained 2.8%, to 3.90 euros before the intervention of the regulator. The AFM said it was awaiting the publication of a statement by Spyker, to clarify the situation.

Spyker is the only candidate for the acquisition of Saab. The group would put 400 million dollars on the table in cash (74 million) and shares (326 million) of the new company that emerged from the sale, according to sources familiar with the matter. Take it or leave it. Leaders from General Motors and Spyker met last Friday in Stockholm to address the remaining points of detail, reports U.S. magazine BusinessWeek.In particular, future production plans for this "new Saab.

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The payslip of some 45 000 employees and contractors in Europe is automatically in effect revalued each year, according to a complex formula incorporating the wage of public service in eight Member States and the cost of living in Brussels.The calculation ended this year with an increase of 3.7% … which caused a surge in countries obliged to freeze or even reduce the salaries of their own officials.

As the Twenty-Seven have they endorsed this Wednesday, after weeks of procrastination, a halving of the annual adjustment. This sudden attack of virtue going very badly in Brussels – even if they, with their comfortable salaries, have trouble finding a sympathetic ear: the grid of monthly payments of civil servants will in effect from 2 600 euros gross, for a beginner bottom of the scale, 18 000, for a general manager at the end of career …

A strike in mid-January

The unions argue that if indexing payroll is divided by two, the samples increase as expected, reduces to only 2.3% higher net wages.Above all, they denounce the illegality of the decision, while the agreement on wage adjustments until near 2012. Several officials of the Parliament considered that a revision of the calculation could be considered later, but by 2012, the rules must be respected.

The case is far from over, because the unions are eager to assert their rights. The conflict could escalate if the Commission officials put their threat into execution and a strike vote in mid-January. Their colleagues in Parliament could decide to disrupt the hearings of the future European Commissioners, also planned in January.

But the most effective lever will probably come from the Commission itself, which is preparing to attack the EU countries before the European Court of Justice in early January.With a realistic chance of success: in 1972, the judges had given him reason in a similar situation.