Live News

In the case of debt, time is a luxury that the United States as Europe can not afford. This is the message sent Tuesday by Christine Lagarde, director of the International Monetary Fund. Welcoming the plan against the crisis of the Greek debt presented Thursday by EU leaders, the French hoped "that these bold steps will be followed in the United States and that action in the fiscal area will occur as quickly as possible."

In Washington, "the clock is forever and you really find a solution," insisted Christine Lagarde. Democrats and Republicans can not agree on U.S. debt, then that must be addressed prior to August 2 the maximum amount that the state can borrow in the markets (the ceiling of the debt). Otherwise the U.S. will not reimburse investors.

"Having a default or a significant reduction in the rating assigned to the signing of the United States, an event would be very, very, very serious. Not for the U.S. only, but for the world economy in general, "said the leader of the IMF. In the longer term, the IMF has asked the United States Monday to hand over "the debt to a sustainable path." U.S. debt until recently was considered by investors as an investment "safe".

If it is proved otherwise, the consequences could be incalculable. The United States "can not default on their obligations," said John Boehner, a Republican official in Congress. "The jobs and savings of too many Americans (are) in."

Threat of 'turbulence'

Europe is no exception.After the summit on Thursday, the leaders of the euro area should continue their efforts, Christine Lagarde warned: "The plan was welcomed by financial markets, as evidenced by the stronger euro and lower spreads rates on bonds of the periphery. But the turmoil could easily reappear. For this reason it is essential that the commitments of the summit are implemented quickly. "

Problem: The plan must be submitted to national parliaments for approval. "This will be done in the coming weeks. This will not happen overnight because, as is often the case in many developed economies of the Northern Hemisphere, August is relatively calm. And parliaments are closed, "admitted the director of the IMF. But Europeans do not have the luxury of taking their time.I think there is an expectation that things should move forward and be implemented not only by the countries directly concerned but also by governments who, as I said, kept their promises. "

To help stem the debt crisis, the IMF disbursed $ 330 billion to date, also recalled Christine Lagarde. Given this fact, the IMF might have to seek new funds to its member countries, its director admitted: "In the not too distant future we will probably take an interest in this issue."

ALSO READ:

"Obama blames Republicans for the lack of compromise on the debt

"United States: the specter of a global crisis

"Debt: Why Greece is still sanctioned

Back in the red for the Paris Bourse. At closing, the Cac 40 drops 0.77% to 3812.97 points. Investors are concerned about the United States. The elected representatives of the U.S. Congress again tried Sunday to reach an agreement on raising the debt ceiling, but without success. While the Speaker of the House John Boehner had slammed the door to negotiations with the White House on Friday night, they have continued behind the scenes throughout the weekend between the Democratic allies of President Barack Obama, the Senate majority and their opponents Republicans, who control the House of Representatives. But John Boehner told his troops on Sunday night that no breakthrough had yet been obtained.

The situation becomes very tense nine days of the deadline mentioned by the Treasury before a U.S. default.This morning, this concern has led to a relapse of the Asian markets. For their part, the U.S. markets, which had already ended Friday without direction, changing declined Monday. According to the IMF, the United States may suffer a "severe shock" if the debt ceiling of the federal state was not found in time.

Greece is also in the news: Moody's today lowered the country's sovereign rating of "Caa1" from "It" with a development, saying the country was still facing major challenges medium-term credit.

Oil down

On the currency side, the euro declined slightly against the greenback at 1.4347 dollar dollar in late afternoon. Oil is also down.To 17.30 U.S. a barrel fell by 0.542% to 99.35 dollars, while the gold, he goes back to 0.84% ​​and is trading at 1615 dollars an ounce.

The banking sector in heavy losses

Dexia lost 8.09% to 1.95 euros, Crédit Agricole 5.44% to 8.92 euros, BNP Paribas 4.47% to 46.63 euros and Societe Generale 4.70% to 36.28 euros. Bank stocks suffer after degradation of the note of Greece by Moody's.

Axa (-4.26% to 13.72 euros), while welcoming the agreement reached by EU leaders on Greece, the insurers of the French Federation of Insurance Companies (FFSA) said they consider favorably participation in the project initiative of private investors, as part of the options.

Values ​​to follow

Areva: 0.10% to 25.37 euros, EDF: -0.28% to 27.09 euros

The new president of Areva, Luc Oursel, who succeeded Anne Lauvergeon end of June, will make his first official Monday by hosting one of its plants in the CEO of EDF, Henri Proglio, showing the warming of relations between the two groups. EDF and Areva have signed an agreement at that time technically and commercially, prior to a more ambitious partnership to be signed in September.

JCDecaux: -3 pay day loans.87% to 20.24 euros

JCDecaux was down sharply, after seeing the recommendation on its way down to "hold" against "buy" before, by Citigroup.

Alstom: -0.16% to 39.42 euros

RATP has ordered 66 additional subway trains for more than 300 million euros, of which 200 million will fall into the hands of Alstom Transport, Alstom said in a statement.

Score: -0.59% to 18.44 euros

The reinsurer Scor reveals a growth of 22% at constant exchange rates, the treaty renewals in non-life and specialties of the 320 million of premiums up for renewal in mid-year.

Saint-Gobain: -1.26% to 41.94 euros

The group will buy the British network Build Center and French Brossette in Wolseley, which is the world leader in the distribution of equipment, plumbing and heating.He will spend 145 million pounds (165 million) to Build Center and 186 million euros for Brossette. "These two acquisitions (…) represent a contribution of over one billion euros in sales," says Pierre-André de Chalendar, CEO of Saint-Gobain, said in a statement.

Unibail-Rodamco: -3.44% to 143.88 euros; Klépierre: 0.88% to 27.41 euros

HSBC has initiated coverage of Unibail-Rodamco to "overweight" with a target price of 175 euros and raised its recommendation on Klépierre to "underweight" to "neutral."

LVMH: 1.01% to 130.55 euros

Consob is considering a complaint from an investment fund over the price offered to pay the French to buy the balance of Bulgari, confirmed Sunday a spokesman for the Italian stock market.

Total: -0.48% to 39.26 euros

The oil amounts to ten billion dollars (seven billion euros) of investment needed to develop the oil field north of Moho Bilondo off the coast of the Republic of Congo, said its CEO, Christophe de Margerie.

Valeo: 0.05% to 47.32 euros

The group announced Friday that its U.S. subsidiary Valeo Inc., based in Troy, Michigan, had received a request for information from the U.S. court as part of an antitrust investigation.

Fimalac: 0.07% to 27.84 euros

The group announced a sales increase of 11.9% on a comparable basis to 515.8 million euros in the first nine months of fiscal year 2010-2011.Its subsidiary, the rating agency Fitch Ratings has led to an increase of 11.7% of its turnover over the same period to 401.5 million euros.

After market, Seb and Klépierre publish their half year results, April Group will announce its earnings for the second quarter, Faiveley the first quarter. Mercialys and STMicroelectronics will publish their results for the second quarter.

Christophe de Margerie confirmed and signed. In mid-April, the boss of Total has caused an uproar by saying that the super two euros per liter was something inevitable.This time the statements are more subtle but no less firm: on the margins of economic meetings in Aix-en-Provence, the head of the French company said that "the price (of oil) rather than being on the rise, so do not expect long-term prices (fuel) down. "

The issue is very clear to Christophe de Margerie, "If it does not reflect the increase in oil prices, the box runs." Under these conditions, while going on holiday will intensify in the coming days, the price the pump are about to take four to five cents extra.

The decision of the International Atomic Energy Agency (IEA) on 23 June, to tap into strategic reserves to lower prices will have had a very limited impact."The effect was instantaneous – crude has fallen from 115 to 107 dollars, almost four cents less at the pump – but the fundamentals of the market quickly regained the upper hand," said Jean-Louis Schilansky, President of the French Union of Petroleum Industries (Ufip).

$ 200 a barrel

In this case, is the increase in demand on prices. While the IEA has estimated that the outbreak in the spring classes began to slow global consumption, but the 90 million barrels per day (bpd) is no longer so distant. Moreover, if growth continues, the cap could be gone by the end of the year, according to the scenarios of the Agency.

Meanwhile, it is unclear how far prices will rise at the pump. At the end of last week, the Brent crude in London closed above $ 118."The courses tend gradually to 120 dollars," said Jean-Louis Schilansky which states that within a few days fuel prices should find their levels of early June. An average of 1.50 euro for unleaded 95 and 1.33 euro for a liter of diesel. As for the bar that fateful two euros per liter, it corresponds to the experts at a price of 200 dollars a barrel. "We still have some respite," said Jean-Louis Schilansky.

In this issue so sensitive fuel prices – especially in summer – the government continues to be very careful. A few days ago, they had encouraged retailers to pass quickly down the barrel instantly.This time, they should encourage stakeholders – oil and supermarkets – to smooth the rise in crude.

ALSO READ:

"Fuel prices are going to record after record

"The liter of gasoline will be worth 2 euros, according to the CEO of Total

"Good tips to save fuel

At Paris Air Show, Airbus steals record after record. While the European aircraft manufacturer has been a landmark order yesterday from the Indian carrier IndiGo, involving 180 Airbus A320 150 A320neo, a subsidiary of EADS did even better on Thursday. During the fourth day of the Paris Air Show, the manufacturer confirms the largest order in the history of civil aviation in the number of devices with 200 Neo A320 from Air Asia. The boss of AirAsia said Thursday that the day would be a "great day" for the company. AirAsia, based in Malaysia and largest low cost airline in Asia, with this command becomes the largest customer of Airbus.

In addition, American Airlines is about to acquire from Airbus over 100 single-aisle A320 series, according to Bloomberg. The price of the order could amount to about $ 8.5 billion at list prices.These devices replace less efficient airplanes like the Boeing 757 and MD-80. This command would be a setback for Boeing since the company is usually the client U.S. aircraft manufacturer, Airbus' main competitor.

After its intention to buy A320neo, the airline GoAir Indian low cost has signed a firm order this morning for 72 medium-haul of its kind.

Since the beginning of the show, the success of the A320neo is undeniable: it should pass the milestone of 1000, just seven months after its commercial launch. Subsidiary of EADS has already exceeded its targets since was 500 A320 orders by the end of Bourget.

Other models also reap Airbus orders this Thursday

The A380 also encounter expressions of interest. Skymark Airlines has confirmed Thursday morning ordering two A380s.The amount of this additional order would reach at list price, $ 750 million.

In addition, Airbus hopes to get "a significant portion" of the large order that would formalize Air France-KLM this summer, said Thursday Fabrice Brégier, Chief Operating Officer of the European aircraft manufacturer. The French company could opt for the A350 model. "We believe that the A350 has advantages over the Boeing 787. For us to make to Air France-KLM, "commented the manager.

For now, the official death toll is over 700 orders and options, including 347 firm orders for Airbus in three days. The total amount of these orders, at list prices, at more than $ 65 billion.Boeing is so far below as the U.S. garnered 126 orders and options, including 61 farms, pour19 billion.

ALSO READ:

"Aerospace is recruiting 10,000 people in 2011

"At Le Bourget, Airbus signs largest civilian control

"I walk in the countryside." Thus, Christine Lagarde, finance minister and declared candidate for the post of Director of the IMF, began his speech on Europe 1 radio on Sunday. Its stated goal: to convince all the emerging countries of the legitimacy of his candidacy. "These countries are worried. They want recognition and they feel frustration. They want a manager with universal and that is why I will introduce myself, "she said.

The minister will travel first to Brazil "because it is the first country invited me," she says. She will then visit the 'all emerging countries, notably China, India, some countries in Africa and the Middle East. Which will require it in his words to "make a lot of extra hour" because this campaign is done in conjunction with its agenda of Minister of Finance.While emphasizing the concept of universality, Christine Lagarde says she remains "deeply French and European. But in the context of these functions, you must be accountable to all of these 187 member countries. "

No fears for the record Tapie

Even if she repeats that "we should not count your chickens before they're hatched," the minister made a speech very assured, aware of the many clear support of the Europeans and Americans implied. "If I am elected, she says, I will leave the government because the two functions are incompatible." Asked about the name of his successor, the Minister nevertheless kicked into touch: "It's not for me to decide, but we have in our ranks many talents."

Christine Lagarde has also lingered long on the back Tapie, only shadow seemed to hover over his candidacy. "The file is empty," she repeated.She said the referral to the Court of Justice of the Republic by the Attorney General at the Court of Cassation, Jean-Louis Nadal, "is factually false and legally unfounded." "I chose the solution of arbitration in the case because I believed that Tapie was the least bad. A conviction was run a risk of 7 billion euros to the state. " For the future, the finance minister said to "really good confidence in the judiciary" and says she has "conscience".

ALSO READ:

The CV of Christine Lagarde meet IMF demands

"VIDEO -" The chances of Lagarde IMF are considerable "

The U.S. futures are well oriented on Friday at midday, heralded an opening up. The Nasdaq 100 future appears up 0.35% and the S & P500 future ahead of him by 0.39%. The future of Dow Jones gained 0.57% to 12,322 points.

An optimism that should be confirmed at the opening, whereas recruitment remained high and accelerated in the U.S. in March, allowing the unemployment rate to decline for the fourth consecutive month. This fell to 8.8%, its lowest level since March 2009 (8.6%). The market was expecting an average 8.9% stability. The U.S. created 216,000 non-farm jobs last month when observers were waiting an average of 190,000 new posts after 194,000 (revised) in February.

Economists suggest that new posts are developing in many sectors of the U.S. economy, which suggests a general recovery.

Already on Wednesday, the firm ADP unveiled the net creation of 201,000 jobs in the U.S. last month. Moreover, the weekly claims for unemployment benefits came out lower at 400,000 during six of the last eight weeks.

As for currencies, the euro traded at 1.4096 dollars in early afternoon. Oil-type light sweet crude odds higher at 107.28 dollars a barrel. A barrel of Brent is 117.71 dollars.

War of the exchanges is relaunched

ICE and Nasdaq have officially announced Friday it had sent a joint offer for the acquisition of NYSE Euronext for $ 42.50 per share, paid in cash and stock, e gives a total of approximately 11.3 billion dollars (7.98 billion euros).This proposition therefore shows a premium of 19% over the offer from Deutsche Boerse.

Logitech should loosen the opening. The title forfeits nearly 20% in pre-market trade. Yesterday, the technology group warned on its revenue and operating profit 2011.

Berkshire Hathaway should again be observed after the resignation of David Sokol, the most likely successor to Warren Buffett.

Office Depot will revise downward its results for fiscal 2010, due to a reduced tax credit of 80 million.

BP could benefit from a recommendation by JPMorgan.The broker believes that the title is "seriously downgraded," and reiterated his recommendation to "overweight" value.

Boeing confirmed Friday an order for 15 737 aircraft made by compage Turkish Airlines for more than $ 1.2 billion based on list price. The aircraft manufacturer said that this order includes delivery of 10 737-800 and five 737-900ER.

It's the domino effect. Twelve days after the earthquake that hit Japan, manufacturers of electronic goods continue to feel the shock wave. On Tuesday, Sony announced the suspension of production in five of its factories, which were not affected by the earthquake or tsunami. But they are now facing power cuts, shortages of components or raw materials.

Laurent Roussel, CEO of Panasonic France, announced that four Japanese factories in the group had stopped their production. "Our sites themselves have suffered very little damage, but the infrastructure does not work anymore," says Laurent Roussel. A situation similar to that known by Sharp. "Some of our plants are occasionally arrested, because of power cuts. Transport is also affected.Priority is given to people and help, "says Patrick Chardin, the CEO of Sharp France.

From last week, Toshiba had suspended part of its production, not to weigh on consumption of electricity. Under these conditions, no one will risk a prediction on the consequences of such interruptions to production. While large groups have a clear picture of damage to their own plants, they lack information on their suppliers. Last dreaded effect: a collapse in domestic demand. "The Japanese manufacturers are also very powerful in their domestic market online payday advance. If domestic consumption were to fall, it would be a major blow, "said Patrick Chardin. To complicate matters, the Japanese groups close their financial year to 31 March.The proximity of maturity contributes to a more prudent.

International impact

Despite Japan's importance in the global electronics production – Archipelago weighs 20% of LCD or 16% of memories – nothing to suggest that Europe will be affected by a shortage of TVs or computers. Most of these products are transported by boat, which involves traveling time of around five to six weeks. For now, manufacturers believe that it is still possible to make up for delays in shipping their products by air. With consequent higher prices.

"The worst disaster that exports would fall. This would have the effect of a second earthquake in Japan, "warns Lawrence Roussel, who is most concerned about rumors of possible radiation problems of products. "Nothing is further from the truth, he says.Especially since the products currently on the shelf have left Japan there are more than a month! "Nevertheless, some manufacturers have already put in place procedures to control the output string to reassure their customers.

ALSO READ:

The sensational espionage case that shook Renault continued on Sunday to "deflate". One of the three security officials of the automotive group into custody-to-view this weekend, Dominique Gevrey, was indicted for "organized fraud" and imprisoned following the dismissal last January three group executives for espionage.

Two other officials cautioned to view this weekend, including the director of security and close to Carlos Ghosn, Remi Pagni, however, were released Sunday morning, without any charges being brought against them.

The two frameworks safety first taken into custody-to-view, and Marc Dominique Gevrey Tixador, both authors of the report which led to the dismissal of three employees, have so far refused to reveal the name of the informant the source of accusations of espionage.By the reckoning of Renault's lawyer Wednesday to a microphone Europe, the automotive group has made "in the order of 250,000 euros" in this anonymous informant, through an intermediary agent of a private intelligence to collect data that led to three dismissals.

Renault claims a "manipulation"

Renault claims not to know either the name of that source, and have asked the two security officials, "who are only to know, to deliver his name and address to the investigators," said Renault's lawyer no fax pay day loan.This same source who gave Renault numbers of three bank accounts which was based on the automotive group to accuse the three executives have coined strategic information on the program of Renault's electric vehicles.

However, investigators of the Central Directorate of Internal Intelligence (DCRI) claimed last week they had found "no evidence of bank accounts" on behalf of these employees, nor "any evidence of espionage." As a defense, Renault now evokes the idea of ​​a "manipulation". In an interview with Le Figaro, the number two carmaker, Patrick Pelata, said that if this hypothesis was confirmed, "Renault will be attentive to repair any injustice."He also designated himself as a scapegoat, saying the group will draw all the consequences of this case until the highest level of business is to say to me ".

ALSO READ:

"INTERVIEW – Patrick Pelata," I will draw all the consequences "

"Renault has confirmed having paid its informant

The Paris Bourse is a small step forward Monday in mid-session. After opening slightly lower, the CAC 40 0.18% ahead of midterm to 4077.75 points. To 15 hours, the increase was more candid with a gain of almost 1% to 4110 points. Despite the good performance of Asian markets and the close up on Wall Street Friday, traders play the card of caution after a session that saw the benchmark index climbing 1.51% Paris this weekend.

On other European markets, the atmosphere is also very hesitant. The FTSE London Stock Exchange was down 0.47% to 5973.23 points while in Frankfurt the Dax symbolically advance of 0.02% to 7186.80 points.

Investors should still have their eyes on the situation in the Arab world.In Libya, the opposition, strong control of the Eastern and Western cities, was preparing to march on Tripoli and Sunday tensions have spread Sunday to Oman, Sultanate strategically at the mouth of the Gulf. Faced with these tensions, crude prices were again on the upside, a barrel of Brent North Sea exceeding $ 113.Markets will also focus on the series of macroeconomic indicators provided on both sides of the Atlantic:

– In France, prices of industrial production recorded a fourth consecutive month of sharp rise in January, rising 0.9% from the previous month and 5.6% on their progress on year, according to Figures released Monday by the INSEE.

– Inflation accelerated in January in the eurozone to 2.3% yoy from 2.2% in December, but rising consumer prices has been weaker than the 2.4% announced until here, said Monday the EU statistics office Eurostat in a second estimate.

– In Germany, import prices rose more than expected in January from 1.5% a month to month and 11.8% annually, while the consensus gave 1.0% and 11 2% respectively.In Spain, the rate of inflation increased further in February to 3.4% year on year, its highest level since October 2008

– United States will be published income and expenditure survey in December (1430), the Chicago PMI for February (15.45) and the promise of home sales in January (16h).

Note that the currency market, the euro continues to rise, still supported by speculation about an increase in anticipated interest rates by the European Central Bank for the fight against inflation when the policy committee monetary institution meets Thursday. About 11:20 am in Paris, the euro bought 1.3839 dollars against 1.3749 dollars on Friday night.

Values to follow

EADS: -0.58% to 20.54 euros

The group should still be affected by the failure of the tanker contract.EADS may seek to acquire a European group fully exposed to the U.S. defense market, essential to his ambition of becoming a global player in the sector, analysts estimated.

Furthermore, the European aircraft manufacturer Airbus announced Monday in a statement it had received an order "farm" of three A330-200 of the Malaysian company, low cost AirAsia X.

Renault: + 1.36% at 43.53 euros

The carmaker Daimler signed a new agreement whereby the French manufacturer develops electric motors for Smart and Twingo ranges, while the German group will provide the batteries, said the head of R & D at Daimler, citing a German newspaper.Both groups and deepen their alliance forged in April.

Moreover, the Figaro says it in a week that Switzerland will provide the Paris prosecutor the result of letters rogatory requested to check whether two of the three executives on suspicion of espionage and licensees have received money in accounts in this country.

Alstom: + 0.17% to 42.99 euros, Veolia: + 0.49% to 23.75 euros

SNCF, Alstom and Veolia had applied to the realization of the line high-speed train between Orlando and Tampa but the new governor has just drawn a line under this vast project on the grounds of cost and underestimated considered overestimated revenues, according to information from La Tribune.

Carrefour: -0.01% to 35.54 euros

According to Le Figaro, the group could be separated from Dia hard discount its branch.It would become completely autonomous, with no managerial or financial relationship with Carrefour.

Hi-Media: + 4.73% to 4.21 euros

Speculation grows on the value as we approach the end of the period of reflection on the future strategic commitment to the activity of micro-group. Hi-Media, announced in mid-December that it had asked the investment bank NIBC Bank to study the various possible industrial and financial partnerships around its platform and its micropayment Allopass electronic purse Hipay.

CAM: + 2.76% to 26.82 euros

The group reported a 2010 net profit of 100.2 million euros, up 11%. Revenues climbed 3.6% to 2.676 billion.The dividend for fiscal 2010 amounted to 0.82 euro, up 5.1%.

Teleperformance: -1.58% to € 26.70

World number one call center announced Monday a drop in 2010 earnings due to charges related to a restructuring that results in job losses in France.Teleperformance has spent 47 million euros of provisions in its accounts for 2010 to restructure its operations in France, of which 45 million are related to the second plan announced last summer.

Eurofins: + 6.12% to 58.65 euros

The analytical services group posted a profit in 2010 of 23.4 million and saw its sales gain 6.3% to 680 million euros.

At the close of trading, April Group, Ingenico, Steria and Bureau Veritas will announce their annual results.

Natixis: + 0.14% to 4.28 euros, BNP Paribas: + 0.34% to 56.16 euros, Societe Generale: + 0.53% to 49.80 euros

The HSBC bank auxannonces resist.The first European bank has reported a taxable income in 2010, has more than doubled to 19 billion dollars (13.8 billion euros) but reduced its target for return on equity in the long term 12-15% against 15-19% previously.

France Telecom: -0.59% to 15.92 euros

The union CFE-CGC/Unsa France Telecom said on Sunday that he feared a "partial nationalization" of Orange Tunisia, a joint venture of the French operator, Tunisian authorities have announced the seizure of assets of the Group President Marwan Mabrouk.

Accor: -0.10% to 33.64 euros

Denis Hennequin, president and CEO of Accor wants to "work on the brands" and "awaken the spirit of innovation" Hotel Group which has just taken the reins, according to an interview published Sunday in Le Journal du Dimanche.

Tahrir Square, Cairo, online:

Visit msnbc.com for breaking news, world news, and news about the Economy

11:04 p.m.: "The time for change is now," said the head of European diplomacy Ashton.

11:01 p.m.: At the end of the program "French Song", Nicolas Sarkozy commented briefly on the events in Egypt, saying it was "inevitable that Egypt is changing and the way of democracy," and assured that " France the help there. " The head of state, however, wants real democracy and not "a religious dictatorship like Iran."

10:55 p.m.: People are beginning to organize to camp on Tahrir Square.A great new day of action is planned for tomorrow.

10:51 p.m.: The vice president called the demonstrators not to listen to "satellite television, but" their heart. "

10:40 p.m.: The vice president spoke in turn to state television and defending the president in ensuring that it has placed the country's interests above his own. He called on demonstrators to go home and all the Egyptians to work together.

10:36 p.m.: Obama met with his national security team after Mubarak's speech. The CIA had indeed thought that the Egyptian president would announce his resignation, a scenario that was favored by the United States.

10:27 p.m.: The Egyptian state television just announced that Vice-President Suleiman will in turn address the nation.

10:21 p.m.: A man lying on the floor of Tahrir Square.The protesters formed a cordon around him to prevent it happen trampled.

10:13 p.m.: Mubarak said in his speech that he wanted to be "buried in Egypt" and he would not leave his country under any pretext.

10:10 p.m.: The Egyptian demonstrators brandish their shoes, a powerful symbol of defiance and anger in the Arab world.

Mubarak wants to ensure the transition until presidential elections. Photo credits: TV via APTN EGYPT / AP