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The draft budget for Social Security in 2012 began his career tonight in the Chamber of the Assembly. The text provides € 17.6 billion deficit of the general system (Old Age Solidarity Fund included), after 22 billion this year and 28 billion in 2010.

The examination of the text in the Committee gave an idea of ​​the issues that should be hotly debated in the majority, and amendments likely. The major themes: the subjugation of parental leave benefits (CLCA) to the CSG, the reduction in benefits for loss of work and the fight against fraud.

On this point, several amendments of the UMP Dominique Tian were approved by the Committee on Social Affairs. "I support and I ask the group to vote, says the boss of UMP deputies, Christian Jacob.They stem from the report of the assessment mission and control of social security (MECSS), adopted unanimously, "left and right confused.

The first is to redefine the concept of "single person", which comes into play in the payment of benefits as the single parent allowance (API, now part of RSA). "That is to reverse the burden of proof. Anyone applying for the allocation should show that it is only to take on household expenses: rent, electricity, etc.. "

Another measure supported by Christian Jacob, the suspension of all benefits in the event of obtaining a number Safely from forged identity documents."Credit unions did not have that opportunity, which of course added to criminal sanctions," said the president of the UMP group.

Recalculation of benefits sick

Former Minister for Family, Christian Jacob is also aligned with the Committee on Social Affairs to refuse to submit to the 6 payday loans.2% CSG few hundred euros a month if paid parental leave. The measure, sought by the government, must report 140 million per year.

Another controversial issue up within the majority: the new method of calculating sick leave benefits, which reduces the amount of about 6% to a gain of 220 million.The issue will be discussed at today's meeting of the UMP group.

Additional tools to fight against fraud they relate enough to give these provisions without widening the deficit? Yves Bur questioned, at least in the short term, these tools put the time to bear fruit.

"The fraud MECSS evaluates the single parent allowance in the range from 160 to 300 million euros a year, and those arising from forgery to 1.3 billion, said Christian Jacob. By definition, quantify the extent of fraud is difficult and estimates are wide.But it is important symbolically, when efforts are required from all the French, to hit hard on fraud. "

Yves Bur adds other proposals to generate more savings: lower third of the threshold for taxation of benefits breach of contract work (out of court for dismissal …) to 72,700 euros, or launch tenders for the supply of generic drugs and drive down the price as well. He hopes to gain large enough to give up the measure on sick leave … while fearing that the government, looking for additional savings, retains all final.

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The European Central Bank keeps its cool. Faced with signs of recession in the eurozone and while a leading European bank, Dexia, is faltering, the ECB has decided not to ease monetary policy. It has left its main interest rate unchanged at 1.50%. A level considered "low" by the Board of Governors of the Central Bank.

At its last monthly press conference as president of the monetary institution, Jean-Claude Trichet said the ECB expects inflation "clearly above 2% in the coming months," before descending. One way to tell between the lines that interest rates are unlikely to be lowered over the next two months. Inflation in the euro zone peaked at 3% in September, a point above the objective of the ECB.

Still, the market calls for a rate cut."It reflects a lower rate of 0.5", observe the economists Societe Generale. Waiting judged "crazy" in the short term by the Luxembourg member of the Governing Council of the ECB, Yves Mersch.

The case for a rate cut was not, however, rule out of hand. For if the decision was consensus among the governors of the institution, the discussions were long, admitted Jean-Claude Trichet: "There was a discusion about the pros and cons of a rate cut or a maintenance of rates. After this long discussion, which was, I would say, as thorough and comprehensive as possible, we decided by consensus to maintain the rates. "

Some analysts point to a worrying season looming disaster on the front of the activity in the eurozone."The risks to growth, was talking about last month the President of the European Central Bank Jean-Claude Trichet, materialize," are economists at BNP Paribas CIB. In addition, "forecast the ECB behind sluggish growth at year end," they add online pay day loans.

Semi-surprise

The inaction of the ECB, however, is only half surprised. Jean-Claude Trichet, whose every word, in its public statements, is weighed, has not hinted in September that the ECB cut rates. Moreover, "the guardian of the euro zone will wait to act to have more evidence that inflation and growth will slow," noted economist of Nomura.

Observers expect more on a rate cut later this year. "Jean-Claude Trichet is expected to set the stage Thursday in a future rate cut in the next three months," analysts at Nomura advance.

Measures for banks

Taking note of the tense situation of European banks, the ECB launched a series of measures. It provides two refinancing operations unlimited volume of about a year in October and December. This exceptional instrument had not been asked since December 2009.

Jean-Claude Trichet also announced a relaunch of the repurchase program bonds. This will cover 40 billion euros between November 2011 and October 2012. The "bonds" are essentially backed securities real estate, and essential to the survival of many specialized banks in Europe. The purpose of all these operations is "to ensure that banks in the euro area are not limited in regard to liquidity," said French.

The ECB has also called for a recapitalization of institutions in the euro area. They must "do whatever is necessary to strengthen their balance sheets," pleaded Jean-Claude Trichet, using it for their profits, or paying wages "moderate".

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"Growth in Europe will continue to slow

"If your forget you Papi, did you not understand!" This is the slogan that the Feast of grandfathers proudly looks for Sunday, October 2. This annual event occurred in 2008 reflects the growing weight What grandparents grandmothers are celebrated in France on the first Sunday in March since 1987 not only in the family hierarchy but also in the population. In fact, 50% of those age 55 have at least one small child bad credit personal loan lenders. "Women are becoming grandmothers at 54 years on average, while men are becoming grandparents at age 56," says Sophie Schmitt, founder and CEO of Seniosphere, a consulting firm in strategy and marketing on the target of baby Boomers and seniors.

Poster of the 2011 edition of the Festival of grandfathers. DR.

• Why is it the capital the sinews of war?

Basis of bank balance sheets, equity protect in case of hardship, by absorbing the losses. For decades, regulators consider that the level of capital a bank against its commitments is the best indicator of its strength. The 2008 financial crisis has only reinforced this analysis for the simple reason that supervisors realized they had been unable to prevent it. Thus, their goal now is to reduce the impact of future crises, by ensuring that banks have sufficient buffers.In particular, the new international regulations, Basel 3, requires that by 2019 no later than the banks' capital should represent at least 7% of their commitments "hard equity" against a floor equivalent to 2% before the crisis .

• 400 billion already raised

In other words, the race started in the capital for a long time in Europe. First in 2008 and 2009 to offset losses from the crisis. And since 2010 to meet the requirements of Basel 3. The European Commission amounted to 340 billion euros state aid in the form of recapitalization of banks that it has validated between 2008 and 2010. Between January and April 2011, banks have continued to increase their capital by 50 billion euros. In total, nearly 400 billion euros were injected into the European banking system in three years. And it's not over.Portugal, Greece or Spain, the governments push to consolidate their banking sectors. European authorities concluded, following stress tests conducted in May, as eight banks of these countries had an immediate need for 2.5 billion euros. But the amount should be much higher because 16 banks, including Germany, remain in a tie no fax payday advance. For European banks, finally, the question is whether the economic downturn will thwart the rise of their ratios by reducing their profits. In which case they will either raise capital or reduce their commitments.

• Who are the deep pockets?

If Christine Lagarde calls on European banks to seek priority to private investors, the plummeting share price of Barclays and other general company since the beginning of the year complicates the equation.The UniCredit, Deutsche Bank and Commerzbank have had the chance to increase their capital just before the stock market crash of the summer. French banks, they have got just in time a boost through the stock dividend. In this context, it is no coincidence that the last few days of sovereign wealth funds and other major investors are back. Last week, Warren Buffett – who won $ 1.7 billion by betting $ 5 billion over Goldman Sachs in 2008 – has placed a ticket 5 billion in Bank of America. In addition, the merger of the second and third Greek banks is supported by a fund of Qatar. In 2007 and 2008, already, Singapore, Kuwait or China were brought to the rescue of troubled banks in the world.All did not keep good memories, like the fund of Abu Dhabi, Adia had placed $ 7 billion in Citigroup.

However, if by chance the private shareholders do not jostled, European states began to organize to ensure public support for the banking sector. This is the case in Spain, for example. In addition, the Summit of July 21, European governments have decided to allow the European stability fund to recapitalize banks directly if necessary.

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Greece seriously concerned about new markets. First because of its new economic forecast alarming: the finance minister, Evangelos Venizelos, admitted yesterday that the austerity plan would cause a recession than expected, with a decline in GDP is now estimated at 4.5% " at least "in 2011 against 3.8% prior.

But mainly because the second plan with 158.6 billion euros, concocted by the Heads of State on July 21 and has yet to be ratified by all members of the euro area, has been seriously shaken by Finland.

Helsinki this week announced it has signed a bilateral agreement with Athens where, in exchange for his participation in the bailout, Greece to collateral ("Collateral") to Finland. This sum, which some analysts valued at 1 billion euros would be invested by Finland in risk-free assets.Interest earned will, in the end, to cover the amount loaned in the rescue plan. In other words, the Finnish government has made pledges to ensure against any risk of default of Greece.

Two-tier system

Technical in appearance, this agreement could have an impact politically devastating. Although this is a bilateral agreement, "Member States of the zone will validate this discussion between Finland and Greece," said a spokesman for the Commission, Amadeu Altafaj, ensuring that " Negotiations are already underway. "

But in Brussels, it does not hide his concern. If it is definitely validated the agreement between Finland and Greece could open a Pandora's box by allowing other countries to step into the breach. Austria, Slovakia and Slovenia are already tempted to do the same."We believe this agreement will exacerbate the problems of Greece and did not fall," warned yesterday the Dutch Prime Minister Mark Rutte. He said the solution is equivalent in effect to "resume direct" the money lent. However, the Dutch Prime Minister said that if the Finns get this guarantee, it should apply to all countries in the euro area quick cash.

Therein lies the problem. By creating a two-tier system, the agreement undermines the solidarity displayed by the leaders of the euro area on July 21. "The participation of Finland has been canceled," said one EU source, deploring an arrangement going "against the spirit of the agreement" for Seventeen.

Difficult, however, to reverse, the source added.Helsinki is indeed required to deal with the nationalist party of the True Finns since their breakthrough in the last legislative elections and their reluctance to come to the rescue baskets drilled in the euro area.

Markets are not fooled

Under the pressure of Finland, the Heads of State of Seventeen had included a short clause in their agreement of July 21, stating that "where appropriate, a security agreement will be established to cover the risk arising, for Member States of the euro area, the guarantees they have provided to EFSF. " The rhetoric is vague and leaves open to interpretation. Yesterday in Brussels, experts from the ministries of finance in the euro area came together to floor on the issue.

For the Commission, this development is not a surprise, and he emphasizes the urgency of ratifying the agreement of July 21.José Manuel Barroso had written to heads of state of the euro area from August 3 to ask them to speed up the timetable, and thus "avoid introducing excessive stress in terms of conditions or additional collateral." We understand better the rush now.

Athens wanted reassurance yesterday, indicating he had entered into negotiations with a pledge of Helsinki. But financial markets are not fooled: "If all countries in the euro area, each requiring a Trust Agreement, this will restrict all the help that will actually be available for Greece," say economists at Barclays Capital. This would imply de facto establishment of an additional third envelope.

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If prices continue to increase, rising interest rates tend to slow down on its side. The latest results of the Housing Credit Monitoring / CSA published Monday, the average rate charged by banks for getting a home loan rose to 3.90% in July, or 0.04 basis points over that in June.

It's much more at the end of 2010, where it reached a low of 3.27% on average, before rising sharply in the first quarter of 2011. In the early months of the year, interest rates have taken nearly 10 basis points per month, before slowing gradually to rise in the second quarter.

Because the factors that competed so far in the rise in interest rates now seem not to have to play. "The increase began in November 2010 was related to liquidity constraints imposed by the Basel III.To satisfy them, the banks have increased their margins on new loans payday loan lenders. Today, this adjustment – of around 70 points to 100 basis points depending on the establishment – is probably done, "said Michel Mouillart, an economist at Paris X-Nanterre.

Other factors, however, could take over. The cost of money, in particular, could rise because of uncertainties related to the amount of sovereign debt. For the moment, "this factor did not play," said the economist. But it is already expected that the three-month interbank rates and increasing to ten years until 2012, drawing upward those for mortgages. "The movement of rising interest rates should continue," predicts ultimately Eluère Olivier, an economist at Credit Agricole.

Increase the duration of loans

Photo credits: Jean-Christophe Marmara / Le Figaro

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."

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Carrefour and its major shareholders still have progress to make to master the subtleties of samba. The merger of the Brazilian subsidiary of global distributor with the second casino, Grupo Pao de Acucar (GPA), is abandoned.

Scaffold for months in the back of its local partner Casino Abilio Diniz (President and owner of 21% of GPA), with the support of BNDES, the Brazilian equivalent of the Deposit, the project would have allowed Crossroads take control of all activities involving the two Brazilian groups. The company, known as Pao de Acucar Novo, would have made 30 billion euros in sales and held 32.3% of the local market, against 11.1% for the U.S. WalMart.

Las.Faced with fierce opposition from Casino, which supports the development of this project is contrary to the shareholders' agreement binding Abilio Diniz, BNDES announced its withdrawal on the night of Tuesday to Wednesday. While Diniz seeks private investors to substitute for Brazilian BNDES, he lost some of its political support.

This halted the project is mostly a failure for Carrefour, which had the most to gain. The group chose to take advantage of the disagreement between Diniz and Casino to join in a risky project, rather than seeing the Brazilian partner with WalMart. If successful, Carrefour could forget his many disappointments. The group is not out of a serious area of ​​turbulence in its domestic market, putting pressure on its outstanding CEO Lars Olofsson and its principal shareholders, Groupe Arnault and Colony Capital payday advance lenders.The latter, entered the capital of the retailer in March 2007, when the action was worth 53 euros, have increased the project, or attempted to bounce the stock price, which dropped by half since: sale of Brazilian and Chinese subsidiaries , public offerings of real estate branch, split Dia. In vain.

Brazil lost the battle has also cast a cruel light on the performance of Carrefour in the country, its first growth opportunities ahead of China. Abilio Diniz revealed that the operating profitability of Carrefour Brazil was 1%, seven times less than that of GPA. Casino and pointed the loss of market share of hypermarkets in Brazil, for the benefit of supermarkets and convenience stores.If its chain of wholesale stores Atacadao is a success, Carrefour, local leader, sees its hypermarkets suffer against those of Extra, a subsidiary of ABM.

Overconfidence

After 550 million of provisions recorded by Carrefour last year as a result of accounting fraud at its Brazilian subsidiary, the latter saw his image tarnished again. The withdrawal of the BNDES also shows that Carrefour had underestimated the political power relations in Brazil, or too trusted Abilio Diniz …

If new proposed combination with GPA must be submitted to the board of Carrefour in the coming months, it would still be opposed to casino, and no political support in Brazil. This time, the independent directors of Carrefour might well make their voices heard.

The Paris Bourse started rising sharply on Tuesday morning – the Cac 40ouvre up 0.80% at 3973.92 points – after finishing Monday night in a small decrease (-0.21% to 3942.53 points) carried by a slight recovery in confidence in European markets while the situation in Greece feel a little better. The single currency advance against other currencies on a hope that the Greek crisis can be resolved (one euro 1.4371 against the dollar this morning). Jean-Claude Juncker, Eurogroup President, has expressed his desire to "solve the Greek problem by the end of June." In addition, a second bailout of 65 billion euros could be established, combiners loans from the EU and the IMF.In addition, Germany plans to withdraw its proposal rééechelonner maturity of Greek bonds to facilitate the release of new aid to Athens, reported Tuesday the Wall Street Journal, which further strengthens the euro on the market exchange.

Still, this morning, the rating agency Fitch Ratings lowered by three notches note of Cyprus, which changes from "AA-" to "A-" due to the involvement of banks in this area countries euro in Greece and does not, according to a statement, to conduct a further deterioration.

This morning, Asian stock markets are well oriented. The rating agency Moody's has yet announced it, it could lower the rating of the long-term debt of Japan within three months, citing the massive debt the country exacerbated by the recent earthquake in north-east . Fitch made the same announcement three days ago.The Nikkei has still finished rebound of nearly 2%, amid weaker yen against the dollar and a good indicator of industrial production.

The French Minister of Economy Christine Lagarde, has pledged Monday in Brasilia to "deepen" the reform of the International Monetary Fund (IMF) to give more weight to emerging countries if elected head of the institution Financial.

The greenback that folds also pushes the oil upward, making them more attractive purchases of raw materials denominated in dollars. In morning trading, a barrel of light sweet crude for July delivery took 35 cents to 100.94 dollars.That of Brent North Sea crude for delivery gained 58 cents identical to 115.26 dollars.

Rain important indicators to monitor

In France, before the opening of trading, we followed the consumption expenditure of households on goods in April (INSEE): it decreased by 1.8% in April after falling 1.0% in March (revised ). Sales of new homes fell in France by 17.2% yoy in the first quarter, according to the Ministry of Housing, which reported Tuesday in a parallel increase of 30.4% in housing starts and 9, 0% of building permits between February and April 2011.

Then at noon, we take knowledge of business failure in December 2010, the agricultural price indices in April, while producer prices of business services in the first quarter (INSEE).In Germany, retail sales have risen dramatically in April, but at a slower pace than expected, after a march which the drop was even greater than had originally estimated.

In the euro area, we know the unemployment rate April at 11 am and the first estimate of inflation in May

United States, 15 hours, we expect prices logger (S & P / Case-Shiller) well attended in March. Then at 15:45, industrial activity in the Chicago area in May, also very important. At 16 hours, the highly anticipated index of consumer confidence (Conference Board) in May.

Laurent Perrier: net profit up 39.5%

Side values, Alstom (1.81% to 42.64 euros, the biggest increase Cac 40).The construction project by the group of a line of elevated railway in Baghdad will cost $ 1.5 billion (one billion euros) and will be financed by the French government and French banks, said Monday the Iraqi leaders.

The group of Laurent-Perrier Champagne on Tuesday reported a 39.5% increase in net income for fiscal year 2010-2011 ended in late March, thanks to higher sales volume in the second half, which helped significantly reduce its debt.

Areva (-0.51% to 29.50 euros) will follow as the night before, the stock lost 1.98% to 29.65 euros on its first day of cotation.De invertitudes many threats to the nuclear group. EDF is also on the alert after the announcement yesterday (Monday) at the end of nuclear power in Germany by eleven.

Renault (1.35% to 39.31 euros) is also on the radar screen when a new number two was appointed to replace Patrick Pelata yesterday.Carlos Tavares will cheer for employees and create attractive cars to restore momentum to a manufacturer whose weight continues to fall within the Renault-Nissan.

Total (1.33% to 39.97 euros) will launch a discount service stations to compete with low cost workstations supermarkets. In an interview with La Tribune, Jerome Pare, director of the distribution business of France's Total announced that a "large number" of 2050 sales outlets would be affected by this repositioning to the entry level.

France Telecom is in Paris today's investor day. The group plans to sell its minority holdings in Austria and Portugal.He announced his will destabilize its level in 2013 EBITDA to a level higher than 2011 and reaching a total cumulative EBITDA of around 45 billion euros over the period 2011-2013.

EADS (1.14% to 22.68 euros). UK fraud office (SFO) launched an investigation of alleged bribes, kickbacks paid to Saudi officials by a subsidiary of British defense giant EADS and aeronautics, the Financial Times reported Tuesday.

Nexans (1.29% to 66.57 euros) provides the first half organic growth in sales of 7% to 9% and operating profit representing between 4.5% and 5% of its turnover, announced Tuesday the French manufacturer of cables.

Vinci (1.37% to 44.10 euros), ADP (+0.41% to 66.50 eruos), Veolia (0.99% to EUR 20.92).The process of opening the capital of major regional airports is frozen amid differences between local and state, wrote Tuesday in La Tribune. Vinci confirmed early May watch some airports, while ADP and Veolia might also be interested.

Carrefour (+0.74% at 30.51 euros), Casino (0.01% to 73.45 euros). Casino said it had asked the ICC for arbitration and requires that the Brazilian group Diniz fulfill its obligations pursuant to their shareholders in the company that controls the Wilkes Brazilian retailer CBD.According to sources familiar with the matter, the president of the Brazilian group distribution Pao de Acucar Abilio Diniz approached rival Carrefour to evoke the hypothesis of a merger with the local activities of French

Sanofi (0.96% to 54.61 euros) on Tuesday released desrésultats a phase III study showing that lixisénatide, treatment of diabetes has reached, as an adjunct to basal insulin, the primary endpoint .

Schneider Electric (1.22% to 112.15 euros) announced Monday the acquisition of 74% of Luminous, a specialist Indian UPS and critical power, as part of its strategy for small and medium-sized acquisitions.

Despite a "peace message" sent by LVMH (1.22% to 112.15 euros), the debates became heated during the general meeting of Hermes, which was held yesterday.

Fimalac (4.05% to 29.03 euros), parent company of Fitch, saw its operating income grow by 23.9% in the first half ended March 31, while its sales sales was up 21.1% (an organic growth of 12.3%).

Mersenne (ex-Carbone Lorraine: 0.43% to 39.50 euros) acquired the remaining shares of Chinese Mingrong Electrical Protection (MEP) which it already owned 51% since 2008.

CD & R, Axa PE and CDC Quebec are paying 2.1 billion euros to afford Spie, according to our information.

U.S. stock markets are changing very slightly higher on Tuesday, spurred by bargain hunting after plogeon the day before. The Dow Jones rose 0.21% to 12,407.07 points, the Nasdaq advance of 0.23% to 2765.11 points and the S & P 500 gained 0.38% to 1322.35 points.

On Monday, the NYSE has closed lower for the second straight session, giving back to concerns about the debt of several countries considered fragile in the euro area and undermined by the sharp fall in oil prices has weighed on the energy sector.

The euro against the dollar resumes

While concern has focused until recently on the Greek case and the single issue of debt restructuring, they come to spread to other fragile countries of the euro area, including Spain.Even Belgium was concerned, as Fitch downgraded to "negative" view of the note because of the persistence of the institutional crisis in the kingdom.

In the wake of heightened tensions, the euro fell against the dollar, moving below the $ 1.40 for the first time in over two months. On Tuesday, the European currency regained a bit high. In early afternoon in Paris, the European single currency was worth $ 1.41.

On the macroeconomic front, investors will monitor the new home sales and expenditures and household incomes.Among the other highlights of the week, the Michigan index, and promises of sales are expected on Friday.

Bank of America pays $ 410 million to customers

Bank of America 0.30% to 11.45 dollars

The side of values, Bank of America has found a tentative agreement Monday night to pay $ 410 million to customers who complained of excessive bank charges after an overdraft on their account. The complaint partnership had attracted about one million customers aggrieved.

Coca-Cola Enterprises: 0.69% to 29.33 dollars

Also note, Coca-Cola Enterprises (CCE), the leading bottler of Coca-Cola products in Western Europe, is listed since this morning on NYSE Euronext Paris, in addition to its listing in New York.The IPO price was set at 20.73 euros per share and the market capitalization of CEC on the day of the introduction amounted to 7.06 billion euros.

eBay: 0 no checking account payday advance.28%: 31.72 dollars

The distribution group online eBay does not use its earnings from the acquisition of Skype by Microsoft to make acquisitions, said its chief executive John Donahoe in an interview with the Wall Street Journal.

Cisco Systems: -0.40% to 16.29 dollars

The spiritual movement Falun Gong filed a complaint with the U.S. against the U.S. computer equipment manufacturer Cisco Systems, which he believes helps the Chinese regime to suppress its followers.

Avon Products: 0.94% to $ 30

After the close DeWall Street, Avon Products has announced the appointment of Kimberly Ross, currently CFO of Dutch Royal Ahold, as Vice President and CFO of Avon.

Blackstone: 0.54% to 16.64 dollars

For his part, Blackstone seek transfer of real estate assets in Canada for about $ 900 million according to Reuters.

Sigma Aldrich: 0.53% to 68.62 dollars

Sigma Aldrich has announced the acquisition of Brazilian VETEC Quimica Fina Ltda, a provider of specialty chemicals for industry and research.The transaction, whose terms were not disclosed, should have no impact on results.

Union Pacific: 0.26% to 101.85 dollars

Union Pacific has announced the launch of a limited supply to exchange $ 750 million of existing bonds with bonds maturing 2022 and a partial settlement in cash.

Applied Materials: 0.69% to 13.89 dollars

The presentation of results from Applied Material, Tuesday and especially the speech which should also accompany attention. The group was downgraded by Goldman Sachs Friday because of a reduction in forecast request to the semiconductor industry.Also today, Compuware will also deliver his views on the changing demands of business and therefore on the strength of their investment in information technology.

Russian Yandex Internet group in turn could make a sensational debut on the Nasdaq, a week after scoring a spectacular goal in professional social network LinkedIn, says New York Times. The action Yandex will be sold at a price of 25 dollars, far beyond expectations, the newspaper said. Such a price would value the group at Moscow $ 8 billion.