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The Paris Bourse is scheduled to begin this week on an optimistic note. The future CAC 40 up 0.63% at 3934.50 points, an hour of opening, leaving hope for a session in positive territory. The Paris markets should broadly follow the movement driven by Asia Market earlier this week. The Japanese Nikkei closed up sharply (2.09%), carrying with him all the financial centers of the region.

This optimism comes from the U.S. figures for employment, less bad than expected, published Friday (36,000 jobs destroyed destruction cons 50,000 expected). Statistic reassure markets that see it as a sign of recovery very explicit. Especially as the consumer credit in the United States also sets out again on the rise (4.96 billion dollars in January). Both information had enabled the Cac 40 to exceed the 3900 points at the close Friday.Maintaining this level will be one of the objectives of investors on Monday, before setting off to the 4,000 points.

Japan, meanwhile, announced Monday a current account surplus (899.8 billion yen), compared to the deficit recorded last year in the same period (132.7 billion yen).

On Monday, markets will keep an eye on the index of business sentiment of the Bank of France, published before the commencement of trading (8.30). German industrial production for January will be known 12 hours.

EADS in the collimator

The defense group EADS said on Friday reached an agreement in principle with client countries on the financing of the military transport plane A400M. This also held Monday in Paris a crucial meeting on the fate of the military plane, which displays almost four years behind the counter.

The director general of Crédit Agricole, Jean-Paul Chifflet, revealed in an interview with Le Figaro, his long-term goals. "If we find other opportunities for collaboration to reduce intermediation costs for our customers, we will. With the Company generally or with others, "he said as well. This information may affect the securities Societe Generale and BNP Paribas.

In an interview with Le Figaro also Antoine Frerot, CEO of Veolia, reaffirms the group's objectives, including "after-tax profit of at least 9% and operating profit up 4% on average annually.

The central works of extraordinary total stands Monday.Employees of Dunkerque, on strike since January 12 this year, threatening to spread the oil available to them if management does not accede to their demands.

As for publications, Biomerieux announced on Monday a net profit in 2009 of 148 million euros, above expectations. The group table for the period 2010-2015, an average annual growth of between 7% and 9% at constant exchange rates.

The annual results of cements French gather today. Just as those of April, after market close.

The leading global service to local shows in 2009 a slight decrease in its turnover to 34.5 billion euros, an increase of 44% to 584 million euros in net income.

LE FIGARO. – Veolia publishes results better than expected. What were the highlights of 2009?

Antoine FRÉROT. – The two major goals set at beginning of year, in the heart of the economic crisis, have been met. We develop a positive free cash flow after dividends – and to do that, we did not need our program of asset sales which amounted to 1.3 billion euros. On the other hand, we have achieved 381 million in savings, an amount greater than what we had announced.In total, our debt has declined from 1.4 billion to $ 15.1 billion.

Your new strategic plan installment does with that of your predecessor?

There is no question of strategic failure. We aim to quickly find a balance between growth and profitability. Veolia Environnement has formidable strengths: market inherently very porters, strong reactivity with a decentralized but coordinated and a significant asset base of 25 billion euros, which provides flexibility.

We aim to sell 3 billion euros in assets between 2009 and 2011 allows us to breathe our business portfolio. For a group size of Veolia, yield an average of 1 billion per year is not a revolution but a healthy, which allows you to concentrate on the heart of business activities.However, there are very few external growth.

What are your projected outcomes?

At a horizon of 3 to 5 years if the economy remains flat, we expect a profit after tax of at least 9% and operating profit up 4% on average. If the economy is recovering, after-tax profitability could exceed 10% and operating profit increased to 8% per year.

As for 2010, the year seems still uncertain and we do not see today's rebound. In this context, I maintain priority to cash. We seek a new economy of 250 million and 1 billion sale of non-strategic assets.Our operating profit should improve further.

Consider yourself an arbitration more radical in your core businesses?

Veolia Environnement is the only group in the world with four specialties: the water, waste, energy and transport. There is no question of separating from one of them, especially as new needs, new offers, imagine the articulation of these four professions. For example, in water treatment, it has already greatly reduced energy consumption. Tomorrow, sewage treatment plants become producing bio energy and bio-plastics …

Where will the growth?

From the internationally but not only in emerging countries. In Europe and the United States, the model of delegated management – a public water treatment or waste managed by a private group – is much less developed than in France.It will certainly be emulated.

Closer to home, markets are developing. Take the case of countries of Southeastern Europe. Dry and tourism, they will probably need new ways of managing water and improving the quality of bathing water.

You have a license for international passenger transport. When will the first TGV Veolia?

Our partner Trenitalia awaits approval of its trains. It is a rail regulatory authority be established to ensure that competitors of the station can actually make their trains run in the furrows to be allocated. All this should be effective in late 2011.

In urban transport, which is the reconciliation between Transdev and Veolia?

The process of consultation of the staff concerned is underway and we need the approval of competition authorities.We are in final talks with the RATP on swaps. This merger will be followed by an IPO, I hope the first half of 2011. Transdev Veolia will be the leading mondiJal urban transport and reach the critical size in a trade promised sweeping changes. I think including the payment of tickets which will be soon available on mobile phones.

Where is the proposed combination with EDF through your joint subsidiary Dalkia?

Here too, there are new services to be created. For this, we must expand the industrial partnership. With its activity, Veolia is already the largest European producer of biomass, useful for decentralized production of energy.There are also offers to develop the electric motor, which will soon revolutionize the passenger.

Suez there reason to suspect Veolia to take advantage of the strike force at EDF calls?

I have no fear of being disadvantaged in France or Belgium by GDF Suez even if its president is also head of Suez Environment. By analogy, this reasoning applies to EDF and Veolia.

Henri Proglio, became CEO of EDF, "he informed the Board of Directors of the exact duration of his" transitional mandate "to the non-executive Chairman of Veolia?

This was not on the agenda of the Council held on Thursday.

U.S. markets resumed momentum. After opening the session on a slight increase (0.16%), the Dow Jones continues to grow more strongly in the morning, settling on a less hesitant in green. Around 17 hours (Paris time), the leading U.S. index is 0.71% at 10,257 points, the Nasdaq gained 0.23% to 2176 points and the S & P 500 rose 0.71% to 1097 points.

This stronger growth is explained by the strong housing figures, published an hour after opening. Thus, the promise of home sales in December rebounded in December from 1%, as expected by analysts, after falling 16.4% in November, according to figures from the National Association of Realtors American (NAR) .

Nevertheless, caution is required."The market is just in a holding pattern, waiting to see if the advance of yesterday continues, and watching the economic indicators and hearings on Capitol Hill," observed Patrick O'Hare, Site Analysis Briefing . com.

The shadow of the monthly report on employment which will be released on Friday, weighed on the market. Investors will also be attentive to the hearing of an economic adviser to the White House Paul Volcker before the Senate Banking Committee and the beginning of the hearing Treasury Secretary Tim Geithner on the draft budget 2011.

As for currencies, the euro rose further against the dollar (0.16%) to 1.3946 dollar. For raw materials, oil regain momentum he gained 2.17% to 75.21 dollars.

The bank under the microscope

The banking and financials should be monitored.Indeed, Paul Volcker, a leading economic advisers of Barack Obama should call on Tuesday, Congress to limit the scope for risk-taking by large banks. Fannie Mae (-1.46%), Freddie Mac (-2.44%) but Morgan Stanley (-0.02%), JP Morgan Chase (1.54%), Citigroup (-0.30%) and Godlman Sachs (1.19%) react façpn mixed. The latter also strongly denied rumors conveyed by the Times that the bank boss, Lloyd Blankfein, could reach $ 100 million bonus.

The title Whirlpool skyrocketing: 6.74% to 81.19 dollars. The appliance group reported a quarterly profit that more than doubled to 95 million dollars, including through measures to reduce costs fast cash without a hassle . Its turnover rose 13% to 4.9 billion in the fourth quarter.

Dow Chemical took the opposite path: -3.95% to 27.50 dollars. The chemical company has posted net earnings of $ 172 million in the fourth quarter (+11.9%). Dow believes that growth will lag behind the United States and Europe, but demand from emerging countries should maintain growth.

Manpower (3.33% to 54.93 dollars) has announced a net profit declined by 62% to $ 29.1 million, 37 cents per share, against $ 76 million, 97 cents per share, a year ago . It also provides an increase in its turnover in the first quarter.

UPS (+0.27% 58.53 dollars): the U.S. mail group saw its net income dropped 28% to 2.152 billion dollars in 2009 although it has rebounded strongly in the fourth quarter. In the fourth quarter, it rose to 757 million, nearly three times more than a year earlier to the same period.

Kraft Foods (+1.39% to 28.45 dollars): Cadbury's shareholders have until today to decide on the bid of 11.7 billion pounds (13.4 billion euros ) American group.

Bank of New York Mellon (-1.44% to 29.15 dollars) said it would buy a division of investment services to PNC Financial Services Group (-1.09% to 55.25 dollars) for 2 31 billion, including $ 1.57 billion in Action. This deal could help PNC to repay 7.6 billion dollars of public funds received by the bank. The news was not well received by investors.

DR Horton displays the finest up market: 9.40% to 13.03 dollars. The U.S. developer reported net income of $ 192 million in the fourth quarter against a net loss of $ 62.6 million a year ago.The tax credit amounts to $ 149.2 million.

Finally, the automobile industry expects sales figures of new cars in January. Ford should have recorded double digit growth over the period from January 2009. In exchange, the title is already 2.25% to 11.37 dollars.

Following the proposals made by Barack Obama in order to limit both the size of banks and their risk-taking, the banking and financial markets have reacted badly. In exchange, the bank shares continued to tumble yesterday began to regard the U.S. markets. Do not panic however, as the project of U.S. President does not imply that the industry feared most: a dismantling of the largest U.S. banks. However, fear of an escalation, particularly during the passage of these proposals to Congress was clear Friday.

Eager to appear aggressive towards large banks unpopular elected officials of both parties could, for example, insist on a return to the previous rules in 1999, prohibiting commercial banks from entering the market trades.This would lead to force a breakdown of major banking groups like Bank of America-Merrill Lynch, Citigroup and JPMorgan Chase.

This is not the will of the White House. But Republican John McCain and his Democratic colleague Maria Cantwell nevertheless, for several days, submitted a proposal to that effect. "It seems that many proposals of President Obama going in the right direction," said former Republican candidate for the presidency. "Let's try to solve problems", commented the other hand his Republican colleague from Arizona, Jon Kyl."Do not seek a scapegoat that diverts attention from the mistakes of this administration," stated the curator.

New Principles

The Democratic chairman of the Committee on Financial Services of the House of Representatives, Barney Frank is aware of the danger of an escalation develop paydayloans . While he endorses the new principles set by Barack Obama, seven months after the introduction of the reform project finance. But he said he is not totally prohibit the "own-account trading 'of the banks.

While banks such as JPMorgan Chase and Goldman Sachs would be proposed by the White House forced to get rid of some of their activities in the capital and to abandon some of their own trading account.But Barney Frank said, "it would be wrong to demand that banks are withdrawing quickly from all hedge funds and private equity funds involved." The influential Democrat feared the consequences of massive sales made in an emergency.

Tim Geithner, Treasury Secretary, has lost influence in the White House in this case. He was dismissed in June, the approach taken today by Barack Obama to reform Wall Street. He feared that it unnecessarily complicates the debate. Before a group of bankers, closed Thursday night, he confirmed his reservations. Geithner seems to feel that the activities listed are not those who most leaden banks.

The immediate fate of the reform is in the Senate. Other more fundamental questions remain to be resolved.Within both parties, Senators remain divided, for example, on the same principle to let the Fed any role in banking regulation.

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This is better, but there is still much work to do. This is essentially the message that the Fed has sent in its periodic report of the Beige Book.Although economic conditions in the United States will be "even slightly improved" since early December, loan demand and credit quality continues to decline in most regions, said Wednesday the U.S. central bank.

"Even if economic activity remains at a low level, the situation has further improved slightly and these improvements are a wider geographical perspective," according to information transmitted by the twelve regional branches of the Fed.

In the previous report, published December 2, the Fed had estimated that the situation had "improved slightly" in late October and November.

The activity of banking and financial sector remains a concern is that the central bank in the report prepared for the next meeting of the Monetary Policy Committee of the Fed, 26 and 27 January.

"The Fed must raise interest rates" (President of the Philadelphia Fed)

The other black economy is unemployment, according to central bank: "the situation on the labor market remained generally poor, with modest increases in wages appearing in only a few regions.

Consumption expenditure of households, the traditional engine of U.S. growth, "have been at parties year end slightly higher than in 2008 but still well below 2007 levels," said the central bank.

Parallel, were the speeches of presidents of the Philadelphia Fed's Charles Plosser and Dallas, Richard Fisher, the U.S. outlook.The first said that sluggish job market should not prevent the Fed raise interest rates, while the latter said that the Fed would begin to withdraw its measures of accommodative monetary policy to avoid an increase inflationary pressures.

At the same time, Washington announced that the deficit of the United States increased from 77.5% to 91.854 billion dollars for the month of December compared to December 2008.

Shortly after the publication of the Beige Book on Wednesday, the Dow Jones up 0.36% to 10,665.65 points, after opening up 0.15%.

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Nicolas Sarkozy and Christian Estrosi, Minister of Industry, do not joke with the relocation. Especially if Renault thinks. The Minister of Industry will meet Monday at Bercy representatives of subcontractors and management of Renault. Wednesday, Nicolas Sarkozy will Pelatat Patrick, the CEO of Renault. Raymond Soubie, adviser to the president in charge of social issues, and Christian Estrosi will attend.

The manufacturer would consider producing future Clio fourth alternate name and model currently sold in Turkey and no longer Flins, near Paris. The French site would produce more than batteries. A statement carried by the daily La Tribune is the cause of government ire.The Minister of Industry and UMP taste little idea of seeing an additional part of the Renault automobile production from abroad, namely in Bursa, Turkey, which already produced the Clio.

Last year, the French carmakers Renault and PSA Peugeot-Citroen, each received support from the State of 3 billion euros in exchange for a commitment to keep the territory their assembly plants. A Turkish production 100% of the Clio would be contrary to this commitment. Yet the industrial device mentioned nothing very new.In early November, Carlos Ghosn, Renault's CEO, explained that the plant would Flins the heart of the strategy group in the electric car (our editions of the November 6).

Joint Venture

Besides the construction of an electric vehicle "in the heart of the range" of Renault and of a size equivalent to that of the Clio, Carlos Ghosn stated that the plant would also produce francilienne electric batteries. Renault's Japanese partner Nissan, the Commissariat à l'Energie Atomique (CEA) and the Strategic Investment Fund (ISPs) have signed a letter of intent to create a joint venture. For its part, the State, which still holds 15% stake in Renault, must grant a loan at a subsidized rate, a maximum of 150 million euros in the project.

He has however never been any question that the Clio "is no longer produced in France," explains a spokesman Christian Estrosi.In ministry, it is estimated that Renault has enough plants to France to maintain production in the future Clio. Especially since this model is a best-selling brand and it has plenty of scrap bonus and environmental bonus.

For its part, the CGT Renault protests against a "call for competition between countries, sites and employees." The union condemned the "permanent blackmail exercised by the management of Renault, for grants and tax relief." Facing these criticisms, the management of Renault says that "the future is assured Flins.

Despite a very mixed report on oil reserves in the United States, oil prices closed sharply higher Wednesday after being propelled in New York above $ 83 for the first time in 15 months. Around 1700 GMT, a barrel of "light Texas crude (WTI) traded on the New York Mercantile Exchange (Nymex) for the same maturity, gained 1.11 dollars to 82.88 dollars after climbing to 83.15 dollars, a level not seen since October 9, 2008. At the same time, the price of Brent North Sea crude for February delivery took $ 1.12 to 81.71 dollars on the InterContinental Exchange (ICE) in London.Black gold benefits and good results-IMS services in the United States, and economic optimism across the Atlantic.

Having spent most of sitting down, prices of black gold have suddenly fallen off after 16:30, is modeled on the movement of the dollar, which collapsed suddenly at same time. Fellowships, too apathetic during the meeting, have also rebounded late in the session. The FTSE in London has hit the end of meeting a new record close for 16 months, to 5530.04 points.

Instead of declining oil reserves, the ministry revealed an increase of stocks of 1.3 million barrels during the week ending January 1. The reserves of distillates have certainly dropped a little (-300,000 barrels) but the massive decline (1.8 million barrels) expected by analysts did not happen.

France will issue the market for 188 billion euros of debt in 2010, against 175 billion originally estimated, said the Agency France Trésor (AFT) after a decision of the Minister of Economy Christine Lagarde.

AFT said that amount takes into account the 22 billion euros to be used to finance the huge debt which must be subtracted 9 billion euro share buyback due 2010.

"The net emissions will be distributed as follows: around 10% in bonds indexed to inflation, the remainder being divided between BTAN (medium term) and OAT (long term), adds the public body which aims to put debt of France on the market.

In 2009, the agency bought for 13.6 billion purchase of securities prior to maturity, including 11 billion maturing in 2010 and 2.6 billion euros in 2011.

Securities issued debt has steadily increased in recent years. In 2009, they amounted to 165 billion euros, against 128 billion in 2008 and 97.5 billion in 2007.

All about the payment Cesu or know the steps to create a service activity is possible by going to the salon services to the person of 19 to 21 November in Paris, Porte de Versailles. According to Alain Bosetti, Chairman of the Fair personal services, "this national event bringing together the entire profession is essential to address issues of heterogeneous public, to relate structures and individual providers, facilitate the meeting between stakeholders home, job seekers and prospective employers.

Responses adapted to each profile

According to organizers, more than 23,000 private and professional visitors and 250 exhibitors are expected this year.For individuals, the exhibition will provide an opportunity to find answers to their questions about the tax advantages of personal services, operation of CESU, the status of particular employer, their obligations … Through including conferences with themes as varied as "choose a provider company," Cesu banking instructions "or" need a used home? -Become a particular employer. " They will also have the opportunity to meet with service providers and compare their offers.

The exhibition is also an opportunity for industry professionals to find solutions to create in this area of work and meet with franchise networks expanding. Lectures will review aid to the creation of businesses in the area of personal services and franchising.They will also discover paths of entrepreneurs where their peers will share their experiences.

Speakers at Home and job seekers will have the opportunity to meet companies that recruit, make contacts and learn about training possible. Business leaders and HR managers can assess the Cesu as a tool for retention of their employees and discover all the services offered to employees through the Village of services to employees. They will learn include the cost of these services for the company.

More information on the Show site services to the person

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New Christmas rigorous perspective. For the second consecutive year, the budget for Christmas and New Year would fall. An EU study, Deloitte, 34% of the French intend to spend less in 2008 for their Christmas shopping. And only 15% expect to increase their budget for gifts, meals and entertainment. In total, they spend 3.5% less than last year, and will make less of gifts: 10 on average from the 1795 French surveyed, one fewer than in 2008. Among the victims of this greater selectivity: colleagues, friends and extended families, more and more often denied this.

Paradoxical because the French are still a majority did not declare themselves to be affected by the crisis, not to be worried about their jobs and remain confident about their income."The explanation lies in their morale is very low, analysis Gilles Goldenberg, a partner at Deloitte. The psychological barrier is the major factor holding back consumption, ahead of the desire to build savings. "

Admittedly, unlike the Italians, Romanians and Slovaks, few French dare start until January to buy Christmas presents at bargain prices. But the pessimism surrounding will change their buying behavior by 24 December. 30% of them have and offer gifts … hand. "Especially young consumers and graduates of higher education, provides Gilles Goldenberg. This reflects their high rate of Internet use, where you can easily find sites specializing in used goods. "

Gifts Used

Meanwhile, the widening gap between the presents that the French would receive and those they intend to provide.On the one hand, they prefer to receive money, clothes or gift certificates. On the other, the same plan to donate books. "It's the gift that costs the least," said Gilles Goldenberg. Then there are perfumes and cosmetics, then CDs and DVDs. Consumers seem to have anticipated the phenomenon. They are almost 20%, two times more than in the rest of Europe, to consider selling their Internet presence.

The authors of the study are however positive signs. "Last year, statements of intent to lower purchases were 5.1%, they are less negative this year, relativizes Gilles Goldenberg. Hopefully, this deceleration of pessimism is the first sign of rebound. "

Until Christmas 2010, consumers do not plan to resume their old habits.They will focus more and more useful to the frivolous, the sustainable ephemeral, and expenses reflected in the impulse buying. Even young children will pay the price. Their parents have them offer educational games and books, rather than dolls, games consoles or remote-controlled cars.

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