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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 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.

The CAC 40 ended down 1.43% at 3785.30 points. Other European stock markets also closed in the red: the Footsie in London has yielded 1.65%, the Frankfurt DAX 1.66% and 1.62% Eurostoxx 50. After growing slowly in the early morning, the Paris market has swung into the red following the publication of an unexpected fall in industrial production in Germany (-1.8%) last October. Investors are also under pressure while in Greece the deficits have slipped dangerously leading rating agency Fitch downgraded the long-term debt of this country from A-to BBB +.

The statement made Monday by Ben Bernanke on monetary policy of the United States has not given clear direction to markets.The chairman of the Federal Reserve has however indicated that the central bank would keep interest rates at an unusually low for an extended period, while some economists fear the opposite.

The values of the day

Alcatel-Lucent is 1.33%. The telecoms equipment maker announced it has signed an agreement with Bouygues Telecom to test the 4G, the next generation technology of mobile broadband. Alcatel-Lucent is also the most action surrounded the square in Paris on Tuesday, with nearly 13 million shares traded.

EADS yields 1.41%. Air Algeria and ATR reported Monday the signing of a contract for four ATR 72-500 aircraft for delivery in 2010.The contract amount is 82 million.

Stallergenes (-0.26%) expressed Monday "very positive" three years of a long term study on the allergy tablet, Oralair, to assess the long-term effect and persistence of this effect after stopping treatment.

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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The UNEDIC (unemployment insurance) is less pessimistic than before. It now provides over 509,000 unemployed in France in 2009 (639,000 in its previous estimate in May). The unemployment rate should rise and 9.7% at the end of this year and 10% in late 2010, according to new forecasts released on Wednesday.

The projections for this year join those published in early October, the INSEE, which however did not give a figure for the end of next year. In the second quarter of this year, the unemployment rate was 9.1%.

According to a statement released Wednesday Unedic, the number of job seekers, after a sharp rise in 2008, would increase this year of 509,000 (including those engaged in a reduced or exempted from seeking employment because of their age ), including 328,000 compensation.End of August, France had a total of 3.7 million job seekers (including those engaged reduced).

The projections, detailed Wednesday in an office monthly Unedic are established on the basis of a GDP decline of 2.2% this year, followed by an increase of 1.1% in 2010.

In 2009, the economy will continue to destroy more jobs than it creates employees, but to a lesser extent than anticipated previously.The unemployment insurance system now expects "a contraction in employment of 413,000 jobs in 2009, while waiting earlier net loss of 591,000 jobs this year employees.

In 2010, estimated Unedic, "wage employment would register a decline of 75,000 jobs, almost two times less than the 133,000 net job losses employees previously expected.

Given these prospects improved, the financial situation of unemployment insurance will deteriorate less strongly than previously expected. The plan should acknowledge the end of 2009 an annual deficit of 902 million euros and not more than 1.3 billion euros as anticipated in late May and end in 2010 a deficit of 3.6 billion euros.

The deficit accumulated in recent years, reduced to 4.9 billion euros in late 2008, would increase slightly less, and would amount to -5.9 billion euro in late 2009 and -9.5 billion euros at end 2010 .