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Droughts and fires will they bring Russia to its knees? The Russian government admitted on Tuesday that recent weather events will cost between 0.7 and 0.8 growth in the country. Without this unprecedented heat wave last half-century, the Russian economy would have increased from 4.4 to 4.7% in 2010, according to a first estimate unveiled by Economic Development Minister Andrei Klepach. The final cost of these disasters should be known in November.

"The extreme heat and smoke from fires have forced businesses to close their plants or reduce their production schedules," according to economists at HSBC payday advance lenders. "The productivity of those who have maintained their production has declined considerably." These climatic events were particularly affected the agricultural sector. Wheat production is expected to drop by and third.What make analysts more pessimistic than the government: they think the heat wave is expected to cost a point of growth.

Russia, however, had started the year well, with a growth rate of 2.9% in the first quarter and 5.2% in the second. "In the third quarter, the activity should be particularly weak and a scenario of stagnation can not be ruled out," HSBC economists said.

After a pause of three days (Monday holiday), the U.S. stock market, resumed the height Tuesday. The Standard & Poor's 500 and Nasdaq 100 advancing in effect by 1.3% to 1035 points and 1.7% to 2126 points. On Friday, the NYSE has fallen heavily, cooled by the monthly figures of employment in the United States, although less well than expected. Last week, the Dow Jones dropped 4.51% to 9686.48 points, ending Friday at its lowest level since October 5. The Nasdaq fell 5.92% to 2091.79 points and the Standard & Poor's 500 index 5.03% to 1022.58 points.

On the foreign exchange market, the euro continues to rise on Tuesday. At 15.30, the euro gained 0.38% to 1.2592 dollar.

The session on Wall Street, will begin with the announcement of the PMI services.Apart from this indicator, no other major news is expected.

After the disappointment of Friday on the employment figures, investors should be particularly careful this week to weekly figures for unemployment benefits that are to be published Thursday.

The employment report in June showed Friday that the U.S. economy had reduced jobs for the first time since the beginning of the year. Even the decline in the unemployment rate to 9.5% was not enough to reassure investors, this situation reflects the despair of a portion of the workforce, which seeks more jobs.On Wall Street as on most other major world places, operators should play the card of caution this week before the opening of the interim results season.

On the face values

Within the Dow, the ball begins, as always, with results from Alcoa July 12 (next Monday).

Meanwhile, the discount retailer Family Dollar Stores (3% to 39.8 dollars) to publish its half-yearly results on Wednesday credit score. This will be the only company in the S & P 500 to publish its results this week.

The BP Plc, also listed on Wall Street leads the session with an increase of 4.9% to 30.8 million.After the group has denied being the search for new shareholders, Shokri Ghanem, Chairman of National Oil Co, a Libyan oil, said that Libya should return to the capital of the British oil company.

The share of investment bank Goldman Sachs benefits of raising recommendation JPMorgan, which rose to overweight on the title: +1.7% to 133.3 million.

Ford Motors has seen its price target return of 16-14 dollars by Goldman Sachs, the bank has lowered its estimate of overall vehicle sales in 2010. However, retain a recommendation "attractive" on the automotive sector. Finally, shares rise 1.5% to 10.43 dollars.

News Corp., the media group founded by Rupert Murdoch, The Wall Street Journal, in discussion with Google, Microsoft and Yahoo! for the sale of advertising space on MySpace, so that the current contract with Google ends.The securities earn 1% to 11.9 million.

The group of agrochemicals and seeds Monsanto (0.3% to 46.7 U.S. dollars) Monday withdrew its complaint against European importers of industrial soybean meal from Argentina. Monsanto previously estimated that they infringed its European patent on its Roundup Ready soybeans. But the group has settled its dispute with the Dutch importer and dealer Cefetra raw Alfred C. Toepfer International just before decide the European Court of Justice on the case Tuesday.

The tone rises between the administration of Barack Obama and BP. The head of the American branch of the oil company, Lamar McKay, said Tuesday at a hearing in Congress, he refused to promise the creation of an escrow account to compensate victims of oil spills in the Gulf of Mexico. The $ 20 billion has been raised in a letter to the CEO of BP, Tony Hayward. "I am not able to tell if an account is established or not," said Lamar McKay. "I can not commit, either one way or the other"

The idea had been raised by the White House. Several members of Congress while announcing their desire to put pressure on BP to put it in receivership on payment of its dividend in order to ensure compensation for victims of the disaster, compared to a "September 11th green" by Barack Obama.

According to the White House press secretary, Robert Gibbs, is already preparing the risposta in the Oval Office. Barack Obama will "be forced either to reach an agreement with BP to withdraw their control of the process of claims and entrusted to an independent structure, so that people who have been harmed to obtain the money they is due, "said the spokesman. The administration is based on the polluter pays law in force in the United States, which requires BP to pay the costs of plugging the leak of oil, cleaning the polluted coastline and compensation for victims.Traveling in Pensacola Beach, Florida, Bush assured the residents affected by the oil spill that would "whatever it takes, as long as it takes to be sure that BP is paying for the damage that it has caused.

An oration

President Barack Obama has formally addressed his countrymen on Tuesday at 8:00 p.m. (2:00 am, Paris time). He will be speaking from the Oval Office of the White House, space reserved for the most serious crises and whom he'd never used a speech to the nation.

A senior, Bush will announce the appointment of a person responsible for restoring long-term disaster areas by the oil spill that pollutes the Gulf of Mexico. The "czar" as the press dubbed the American mission will be to "restore the Gulf of Mexico.Not to where it was the day when the accident occurred. But to restore it to where it was years ago: to increase the life and vitality of the species, wildlife and natural beauty that characterizes the Gulf of Mexico, "said Robert Gibbs.

Barack Obama will set out above "the need to reduce our dependence vis-a-vis oil and fossil fuels" No faxing 1 hour payday loans. He will also discuss the "changes necessary for such a disaster never happens again more. According to an anonymous source, the U.S. president will "present the measures taken to protect those who suffer financially from this disaster, especially during the process of compensation."

"The tragedy was avoidable

Under pressure, BP must also face competition that dares to push it."I am convinced that the independent investigation will show that this tragedy was preventable," and called John Watson, head of oil company Chevron to members of the Committee on Energy and Commerce House of Representatives. The explosion and the sinking of the platform in late April Deepwater Horizon "show once again that all companies must work under the same strict safety and reliability. It is obvious that not following these rules has serious consequences, "he added.

"It is imperative that an investigation expert, impartial and comprehensive investigation takes place, because this incident represents a serious breach of standards relating to offshore drilling, for his part stressed the boss of ExxonMobil, Rex Tillerson .

In addition to the Chevron boss and ExxonMobil, ConocoPhillips and Shell were present. Facing them, Lamar McKay attempted to defend his group."I want to make things clear: BP will know no rest until the wells will not be under control and that we do not understand what happened," he said.

Ficth puts his two cents

BP has several weeks to manage its bad reputation. The group would also relies on advisers to help him. The efforts required will be considerable, especially since the rating agency Fitch has come to contribute to the debate on Tuesday, lowering the notches of six notes of the British major. The latter is now BBB AA cons. Fitch maintains it under "surveillance implications". The rating agency is particularly concerned that BP may be forced by U.S. authorities to place large sums into accounts in receivership.This is the first time that the note of BP is lowered several notches by the three leading rating agencies worldwide and it falls below the AA.

At the London Stock Exchange, BP shares ended the session on a further drop of 3.78% to 342 pence while the FTSE close up on 0.30%. In New York, the action is able to earn 2.18% to 31.31 dollars during the session on a market up 1.22%.

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The low participation rate of older workers back into the crosshairs of the government. While the employment rate of 60-64 years is 17% – against 30% on average in Europe – the postponement of the next age of retirement increases the urgency to improve their employability. Lest the number of older unemployed increased significantly. In an interview in Paris, the Secretary of State for Employment Laurent Wauquiez details the tracks being considered by the government to address them.

First measure: a transposition to senior citizens, at the request of the President of the Republic, the device "zero charge" established during the crisis to boost recruitment in small businesses. A measure that was then allowed to generate, according to the government, one million additional jobs.Since, according to the observation made by Laurent Wauquiez, "companies do not hire older workers because they are too expensive," Secretary of State for Employment suggests "to enable companies who hire older unemployed to be exempt from charges. " A measure that could prove costly.

Second measure mentioned: encouraging the development of tutoring. A practice already contained in most "action plans" developed by companies with over 50 employees in early 2010, the government's request. "This creates the link between generations," says Laurent Wauquiez, a senior form a young, and so we created employment for both. Today, the device for 200,000 people.But the government wants to go further, developing the management of a portion of the salary of the guardian in order to lower the cost of funds for vocational training.

The government's proposals in the context of pension reform should not be known until mid-June But the number of unemployed over 55 years did not wait until that date to increase: in May, it still rose 0.8%.

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Act II, Scene 1. The projectors, which have attracted the eyes of the world on the "Greek tragedy", saw to the west and now targeting Spain. There have been rumors in trading rooms on Tuesday, saying that Spain could seek some 280 billion euros at the International Monetary Fund (IMF).

"The information here is running, but nothing is certain yet. In any case, it is expected that the notes of Spain has deteriorated, "said a trader at Soci?t? G?n?rale. A spokesman for London, however, Fitch assured Tuesday that the rating agency confirmed the AAA rating of Spain, and its stable outlook. Standard & Poor's downgraded the rating of Spain last week.Other major rating agency, Moody's does not express recently.

Given these speculations on a possible deterioration of the Spanish note, wins the Madrid Stock Exchange on Tuesday, from 3.2% to 12.30, approaching the bar dangerously technical and psychological 10,000 points at 10,090.1 points. Mid-April, the Ibex index of 35 largest market capitalizations Spanish trading at over 11,500 points.

New stage in the battle between Airbus and Boeing at the World Trade Organization (WTO). The WTO should make public today its decision on state aid received by Airbus as a result of a complaint filed by U.S. rival in 2004. She had already published September 4 last first report of 1 000 pages, weighed 10 000 pages of appendices on the subject.

The new document will be submitted to the European Commission and the U.S. Administration should resume the main conclusions of the September. According to one expert dossier "gave the first report due to 30% for Boeing and Airbus to 70%.

No refund

Boeing criticizes the system of repayable advances granted by Germany, France, England and Spain to Airbus by saying he does not respect international trade rules.The advances are repayable loans granted by the States. According to Boeing, Airbus can borrow money at rates lower than market. He also challenged other aid. It has, for example, estimated that widening roads in the region of Toulouse to help build the A380 was a form of disguised subsidies. The WTO did not accept the latter charge.

Following the WTO ruling, the European Union will enter the court of the WTO Appellate no fax cash loans . For its part, Airbus has also filed a complaint against Boeing in the WTO. According to experts from European aircraft manufacturer, the Boeing would have earned 14 billion of public subsidies paid by American States, NASA and the Pentagon over the period 1992-2005. The WTO will review its aid U.S. in June.The case is particularly complex, should know its epilogue in 2013. Whatever it is, the final decision will have no retroactive effect. Neither Airbus nor Boeing will not refund overpayments if convicted. It will simply change the system in place for the future.

Faced with this situation, Airbus proposes that Europe and the United States sit "at the negotiating table to discuss a system that satisfies everyone," said Tuesday the communications director of Airbus .The flattening of support systems in Europe and the United States would avoid that "we pulled our eyes while many competitors argue, particularly from Japan, an ally of Boeing and China.

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The steelmaker ArcelorMittal, through Christopher Cormier, a member of the board of directors of the group, and Pierre Gugliermina, who is the chief technology officer, met in New Delhi, officials of the Indian society unlisted Bhushan Power & Steel, reports the Indian business daily The Economic Times.

Discussions would focus on acquisition by ArcelorMittal of a stake in the company Bhushan Power & Steel to access a steel plant and certain mining rights of the latter in the region of Orissa best payday advance! !!???!!!???!!!. ArcelorMittal did not have access to the mines of this region.

The chairman of Bhushan Power & Steel, Sanjay Singal, denied the existence of such a project and he said ArcelorMittal had not approached.Currently the group headed by Lakshmi Mittal does not comment.

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In the wake of Grants in Asia this morning, the CAC 40 on a downward trend during the early exchanges. It lost 0.53% to 3669 points before embarking on his decline of 1%.

Meanwhile the employment figures in the United States, which will be published in early afternoon, the French public deficit rose to a record 138 billion euros in 2009 against 56.3 billion euros last year. As the trade deficit, it was absorbed in 2009 to 43,03 billion euros against 55.14 billion euros. Other important economic indicators are expected in Europe: Industrial output for the month of December and for 2009, Germany, and producer prices in January, Great Britain.

Finally, the finance ministers and central bankers of the G7 meet in Iqaluit, Canada.

The detailed values to follow

After criticizing the organization of the nuclear industry, Henri Proglio blames the system of distribution of gas and electricity, according to the financial daily Les Echos, Henri Proglio would have felt during a trip to Mount de-Marsan January 25 last, that the current organization involving EDF and GDF Suez in the distribution of gas and electricity, through their respective subsidiaries and ERDF GrDF, figure was "nonsense".

As for unions, the direction in which this issue is not a surprise, but "the idea of separation is a major concern in the year 2010, the newspaper reported.

Already in early January Francony Michel, CEO of ERDF, had indicated that the joint service between ERDF and GrDF was "faced with the necessity of (the) provide organizations and own way of functioning, better able to respond to issues more and more different and sometimes contradictory.

Moving with the times

Force is indeed clear that the context has changed since the time when both companies have been reconciled. EDF and GDF were then public monopoly . GDF Suez is now closed and the market is competitive.

Yet about 45,000 employees, are 95% of the total workforce of ERDF and GrDF continue to work respectively for the maintenance of power lines and gas pipelines.

Henri Proglio recovery and the idea of messing up the organization.But he will face unions and local politicians who advocate mixed organizations and public service mission, and legal provisions, but "around".

The case should take its time …

Michel Francony on an ejection seat

Also according to Voices, the new boss of EDF had proposed to his colleague Michel Francony leaving office, whose mandate expires in 2012. But it should not let them. Implied, another slow and choppy affair prepare.

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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 fa?pn 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.