International & World Report

The U.S. economy has begun to destroy jobs, after five months of net creation. In June, the number of job losses in the U.S. totaled 125,000 jobs including in the public, according to figures from the Labor Department. The figure was pulled down by the public sector, the end of the census causing the departure of 225,000 temporary workers hired for the occasion.

More importantly, the private sector alone has created 83,000 jobs. Is much better than the 33,000 net new jobs in the month of May However, analysts expected a figure close to 112,000.

This increase is due to "modest increases in various industries." The leisure industry in particular has created 28,000 jobs before the summer. Business services hired 21,000 people. Note, the industry continued to create jobs (9,000).The construction sector has meanwhile also destroys jobs (22,000), hit by a decline in new construction.

Despite the destruction of jobs, the unemployment rate, calculated on a different basis, for its part fell 9.7% in May to 9.5% in June The Labor Department said the decline by reducing the workforce and the growing number of discouraged workers who no longer work.

Like the case of EADS, the Enforcement Committee has once again not followed the advice of the College of the Autorité des marchés financiers (AMF). While the policeman of the Exchange, after two unsuccessful attempts, was finally concluded that Natixis had lied about its losses in October 2008, Matthew Pechberty, a journalist with The Tribune, the Sanction Commission of the AMF has therefore upheld any complaint against the bank.

"It does not appear that the emergency situation in which it was placed to make before markets opened an initial response to articles in The Tribune, Natixis has disregarded the requirements of accuracy, precision and fairness set out in Article 223-1 of the AMF general regulation, "says the Enforcement Committee in a statement released Wednesday.

It is an article of the daily La Tribune dated November 12, 2008 which stated that Natixis had lost 975 million euros in October 2008. The next day, Natixis issued a press release reporting a loss of 500 million euros.

Neither of the two former leaders of Natixis, Philip Smith and Dominique Ferrero, respectively Chief Executive and Managing Director of Natixis, challenged by the Tribune, have been punished.

In an interview she had given the figaro.fr, Colette Neuville, president of the Association of Defence of Minority Shareholders representing the interests of more than 1,000 shareholders of Natixis, demanded that the bank will refund a portion of its lost its shareholders. No doubt she had to accept this decision with some disappointment.

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Nicolas Sarkozy delivering a public and unambiguous support his Minister of Labour. On Saturday, the president said he had "absolutely nothing wrong with Eric Woerth. "You can not blame him, it is an excellent minister," it was said at the Elysee. The previous evening, Eric Woerth had assured that he had "given no instructions to the tax authorities of any nature whatsoever not to engage in transactions of fiscal control in the case Bettencourt, suspected of tax evasion.

Three new revelations raise yet the question of the role of authorities in the case Bettencourt they were aware of alleged tax evasion of billionaire? If yes, what services were? Have they closed their eyes?

According to the weekly Marianne, the court was aware since 2008 of the possible tax evasion billionaire but failed to alert the tax authorities and has not triggered the investigation into the case. In support of these assertions, Marianne published in its Saturday edition of extracts from documents in the preliminary inquiry by the prosecutor in Nanterre, on the complaint of the daughter of Liliane Bettencourt cons photographer François-Marie Banier.

One of these pieces is a letter from François-Marie Banier to billionaire, dated May 19, 2005, where the artist makes reference to Arros Island, Seychelles. An island that he told him he "has to buy.But the tax on capital 2007 Lilliane Bettencourt, including Marianne also publishes an extract, made no mention of this island. But "the judiciary chose to close his eyes," says the weekly, indicating that the prosecution was under the legal obligation on the basis of these elements, "seize the treasury that it is launching an investigation" .

"Nothing has been hidden"

Contradicting these findings, the prosecutor Philippe Courroye said Friday that "tax administration was warned Jan. 9, 2009 that this issue was likely to highlight elements of tax evasion." "The administration is aware of all the evidence.Nothing has been overlooked, "said the prosecutor, adding that the prosecution could not decide alone to grab a result of tax evasion.

According to the website bakchich.info, Bercy could anyway not ignore the "chow" tax between the photographer and heiress. Indeed, says the site, the department has recovered in 2008 a list of 500 French tax evaders in Liechtenstein, including Francois-Marie Banier. The case of the latter was even transferred, according Bribe, to the National Audit tax situations (DNVSF), responsible for the peel. Two years later, there would always be.

A tax adjustment for Francois-Marie Banier

Labour Minister, Eric Woerth, has responded to this information have launched Friday by announcing in 2009, when he was Minister of Budget, fiscal control of the artist Francois-Marie Banier."There was a notice of recovery, accepted and resolved," said his lawyer Temime. "It is unrelated assets abroad or with the proceedings" on donations made by Ms. Bettencourt Francois-Marie Banier.

Asked on Friday on France Inter, Economy Minister Christine Lagarde said she was "very surprised" that the billionaire is not the subject of tax examinations regularly every three or four years, "as in the case for all very large estates.

On Saturday, the modem has meanwhile said it was "very difficult to drive an issue like pensions while being the subject of everyday revelations." Francois Bayrou who was speaking at a press briefing in the House, insisted: 'The French clearly see that there is a concern.There is a weakening of the government and all those who, in his name, driving a number of reforms. "

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While Wall Street and European markets suffered heavy losses Thursday, stock markets in the Asia-Pacific have taken the path down this Friday, a day after sitting flat.

Around 6.45 am, the Nikkei 225 abandoned nearly 2% to 9731 points, rapidly away from the 10,000 points mark. Consumer prices in Japan excluding perishables, fell 1.2% year on year in May, the fifteenth consecutive monthly decline, said Friday the Ministry of Home Affairs. Excluding not only nutrition, but also energy, consumer prices appear down 1.6% over one year.

Elsewhere, the mood is gloomy, with Hang Seng (Hong Kong Stock Exchange) that descends from 0.65% to 20,599 points, the S & P / ASX Australian yields 1.4% to 4417 points, and Straits of Singapore who drops more tentatively 0.1% to 2844 points.In India, the Bombay SE 30 was down 0.73% at 17,600 points.

The yuan continues to rise

In China, Shanghai fold from 0.69% at 20,590 points. On the eve of the G20 Toronto, Chinese President Hu Jintao called on Thursday for a fresh start and a strengthening of relations between China and Canada, despite some disputes.

The Central Bank of China has also set an exchange rate of yuan against the dollar lower on Friday, which means that the yuan appreciates.The institute has decided on a central parity of 6.7896 yuan against the dollar, 0.3% higher than the 6.8100 yuan to the dollar yesterday.

In its statement, the central bank said it wanted to keep the yuan "basically stable", a term required to show its willingness to avoid any sudden movement of the currency.

The oil also

Crude prices were up Friday in electronic trading in Asia, investors wanting to believe in some indicators better than expected in the United States despite doubts about the U.S. economy. The barrel is 76.65 dollars.

Thursday, across the Atlantic, new jobless claims in the U.S. fell for the first time in three weeks, more than expected, but the new orders for durable goods fell for the first time in six months in May from particular down by purchases in the aviation sector.

There will indeed be a case Boutin. François Fillon has ruled Tuesday: his ministers will no longer entitled to combine their ministerial allowance and a pension of retired. Former Secretary of State for Housing had indeed stirred controversy last week about his double pay, perceived to be a member retired and in charge of a mission by the government. The head of government, which has already announced that future ban to UMP deputies should soon write to his ministers "asking them to suspend payment of their parliamentary pension.

In support of this decision, Francois Fillon cites the constitutional amendment of July 2008, under which ministers can automatically return to Parliament when they leave government.A provision making, as the Prime Minister, "illogical" the possibility of combining the two sources of income. In addition Christine Boutin, who had already announced it will conduct its mission on globalization gracefully, several ministers are concerned by the ban. Michele Alliot-Marie, Roselyne Bachelot, Raincourt Henry, Patrick Devedjian and Jean-Marie Bockel, all former MPs and sixties, are particularly targeted.

The system of parliamentary reform

Other collateral victims of this controversy: the parliamentarians. While the government prepares to unveil on Wednesday morning, the pension reform, it intends to show that employees are not the only ones making sacrifices. Labour Minister Eric Woerth said Monday and hoped to redesign the system of retirement benefits for parliamentarians.A device that allows them to reach thirteen months of retirement a year and, thanks to a dual assessment, a full pension after 22.5 years in office. "We need the President of the Senate and the Speaker of the Assembly clearly announce a reform in the coming days," Had he then served.

Message received by the President of the National Assembly, Bernard Accoyer. Tuesday at the antenna of Europe 1, he has indeed supported the abolition of dual assessment under which assessed one year is worth two "exceptional measures were intended to be removed without delay." A working group will be established soon on a floor Wednesday to reform the system applies this fall.

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Very bad trading day Wednesday for the title again BP. In London, the stock fell 4.24% to 391.55 pence. On Wall Street, the same day, the stock has tumbled 15% to just 29 plsu dollars.Pour many observers, the cost of the oil spill in the Gulf of Mexico is likely to jeopardize the very existence BP. "The action suffers now fears the very future of BP. It is no longer just a noise reduction of the dividend. Now it's survivability in question, "said Jon Najarian, founder of the news website optionMonster.com.

At the London Stock Exchange, the fears were mostly related to the fact that BP would eventually suspend payment of its dividend. "We are resigned to the fact that there may be a suspension of the dividend," said Tony Shepard, an analyst at Charles Stanley, quoted by Reuters.

Last Friday, however, BP has reaffirmed its intention to announce to its shareholders on July 27 the amount of its interim dividend by way of the second quarter. Dividends paid by the group representing some 10.5 billion dollars (8.7 billion euros) per year.

Yet another bad news for the oil group that is not due to his inability to pay, but the fact that the U.S. authorities there are not favorable. "It does me no problem that BP complies with its legal obligations (to its shareholders, Ed), but I want them to know they have a moral and legal obligations here in the Gulf, warned Tuesday Barack Obama.

The U.S. authorities have also sent an ultimatum to compel them to BP by unveiling its plans to 72 hours to stop the leak.

"BP must state its plans for its parallel initiatives ongoing and alternative oil recovery, including establishing a timetable within 72 hours after receipt of this letter," says the letter from the admiral-cons Coastguard James Watson chief operating officer of BP, Doug Suttles, and dated Tuesday.

With the installation of a funnel, BP has accelerated since last week the recovery of oil leaking from the wells to 1,500 meters below the surface of the water for more than seven weeks. But the water continues to move towards the U.S. coast and crude oil continues to flow.

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Must "act quickly". Nicolas Sarkozy and Angela Merkel, the German Chancellor, are on the same wavelength. The French President, recently returned from his trip to China, held a Saturday morning "business meeting" at the Elysee on the Greek crisis, after which, the Minister of EconomieChristine Lagarde, said that agreement on the rescue plan could take place on Sunday, even before "the start of the Eurogroup (meeting of finance ministers from the eurozone, Ed)," which takes place Sunday at 16 am in Brussels.

The total amount of support provided is "not yet determined," according to Christine Lagarde.However, it should "probably" be in the range suggested by the IMF and the Commission, who spoke of "100 and 120 billion euros," she said, adding that it is "a plan over three years, the current year, 2011 and 2012.

The French plan completed in one week

On the French side, the legislative process to unlock a maximum of 6.3 billion euros – 3.9 billion by 2010 – about 30 billion of the EU (in addition to 15 billion IMF), should be completed in the next week.

The examination in public at the National Assembly will begin Monday at 18 hours and should be adopted no later than Tuesday morning.The Senate vote in the wake the bill.

Barouin Francis, Budget Minister reiterated that the financial assistance at no cost to French taxpayers, puisquil is a loan to an interest rate of 5% "with repayment in three years to come," and which requires the Greek government to initiate a tight fiscal policy to clean up its accounts.

Stop the speculation

"The support of Member States of the euro area is to stop speculation and ensure stability in the euro area," Nicolas Sarkozy has insisted Saturday.For several weeks, the markets are panicked by the Greek cases, causing bouts of fever in the Greek long rate, which surpassed 11% this week, and that "the surge has no limits", according to economists.

Less disturbing, but nonetheless indicative of the fears on the markets, the euro fell to the rhythm of Greek concerns on the record. Today around 1.33 dollar, the euro has rebounded a bit from Tuesday it had fallen to 1.31.However, the European currency remains "at healthy levels for the economy of the Old Continent," says Pierre-Antoine Dusoulier, CEO of Saxo Bank.

Strengthening surveillance

Nicolas Sarkozy and Angela Merkel intend to take "initiatives in the coming days" for Europe to strengthen monitoring mechanisms within the euro area, expedite its work on the fight against speculation and improving the transparency of products derivatives and make further proposals on the regulation of rating agencies.

For these rating agencies, Banier Michel European Commissioner for Internal Market and Services, expressed support on Friday to create such an entity in Europe that would complement three existing credit rating agencies, all U.S., Standard & Poor's, Moody's and Fitch.

Their mission note states, businesses, communities, or financial transactions in order to give investors a comprehensive view of credit risk among market players.

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In the wake of americans markets reassured by the progress of the case Greek, Asian markets were changing all the green around 7:00. The Tokyo stock market closed Thursday, evolves, this Friday, up 1.45% to 11,083.67 points, Hong Kong climbed 1.13% to 21,013.28 points, ahead of South Korea 0.77 % to 3666.52 points, Australia rose 0.48% to 4808.80 points, India is up 0.69% to 17,623.88 points and Singapore grants itself an increase of 0.40% to 2970.80 points.

The Monetary Policy Committee of the Bank of Japan decided Friday to leave its rate unchanged at 1%.Shortly before the country announced nippon over one year to March to lower consumer prices by 1.1%, up 4.4% of household consumption, an increase of 0.3% industrial production and a slight increase in unemployment from 4.9% to 5% cash fast online. Only Taiwan displays a small decrease from 0.01% to 8053.51 points.

As for values, but the South Korean Samsung Electronics posted an operating profit up 643% to 3.99 trillion won (2.7 million) in the first quarter of 2010, and a number of business up 21% to 36.64 billion won (24.8 million euros). The group was expecting an operating profit of 4.3 billion won (2.9 million euros) and a turnover of 34 billion won (23 million euros).

Toyota Recalls endless. It will now add to the list the Lexus GX 460. Having announced Thursday the suspension of sales in the world of this luxury car, the Japanese automaker said in a statement, he will remember 9400 Lexus GX 460. A figure well above the 6,000 vehicles announced by the U.S. Department of Transportation.

Toyota wants and "update program" in the system Dynamic Stability Control (VSC) of vehicles. "Our engineers have conducted tests to confirm the problems associated with VSC, raised by Consumer Reports (the magazine that criticized the reliability of the Lexus GX 460 in the turns, Ed).We are confident that this update will resolve this matter, "said Steve St.Angelo, responsible for the quality of Toyota in the U.S..

Toyota said that all Lexus dealers will have the VSC software by the end of April.

The announcement comes as Toyota has agreed to release another record fine of $ 16.4 million imposed by the Securities and Exchange Commission (SEC), the "policeman of the Exchange» U.S. for its slow to reveal the existence of technical defects.

To date, Toyota has recalled more than 9 million cars worldwide because of brake problems or accelerator, including 6 million in the United States.

At the New York Stock Exchange, Toyota lost 0.39% to 79.06 dollars in a market up 0.68% at 11,094 points.

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After closing in the red Thursday, almost all the CAC 40 woke up green this Friday at 4022.66 points, excited by the great increase of Wall Street. And closed, its momentum, to 4050.54 points, up 1.81%, exceeding its peak.

The London Stock Exchange and Frankfurt have also recovered well in the wake of Wall Street, buoyed by an upturn in consumer spending … The London FTSE 100 closed up 1.02% to 5770.98 points. The German Dax closed up 1.26% to 6249.70 points.

Thursday evening, the CAC 40 lost 1.20%. After rising almost continuously since February. The index had been weakened by fears of renewed solvency of Greece.

The lifeline of the ECB

Fears eased by the reassuring words of Jean-Claude Trichet, called "lifeline" by the Greek press.The President of the European Central Bank, rejected any risk of contagion to other countries, like Italy. He also assured that a default of Greece was "beyond question". In fact, the President of the European Union, Herman Van Rompuy, promised Friday that the Europeans are "ready to intervene if the Greeks call" and implement a plan of assistance involving the IMF, which Greece seems to want to avoid. French President Nicolas Sarkozy confirmed: the European Union is ready to activate its plan "at any time" bad credit payday advance.

These incentives have led to a rebound of the euro against the dollar above $ 1.34 this morning, then at 1.3385 dollars this afternoon. Volatility remains a must.After being stretched to 7.5%, the yield on loans to 10 year-old Greek, too, calmed a time, returning this morning to 7.2%. It said Thursday that Athens be able to reduce its deficit by 40% YoY in the first quarter.

The Greek situation remains fragile. The rating agency Fitch has lowered a few minutes from the end of Paris, noted the long-term debt of Greece, from BBB + to BBB-. This could well lead Greece to seek EU aid promised on March 25 …

According to strategists at BNP Paribas, investors await the issuance of treasury bills by Greece on Tuesday to assess the ability of countries to find core funding.Markets await the second season launch of results from U.S. companies, with Alcoa on Monday.

Side values, in Paris, the banks have been resilient, despite their exposure to Greece, to the tune of fifty billion euros. This does not raise "no particular concern, said Friday the governor of the Bank of France Christian Noyer, even if the French regulators monitor" closely "the situation.

The rising price of rubber has instead penalized cars, Michelin (-0.08%) signing the only declines the CAC 40.