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The U.S. stock markets ended the week on a sharp increase at the end of the session.

Already indices had opened on Friday on the rise, boosted by employment figures less bad than expected. The United States has in fact lost 36,000 jobs in February than in January and the unemployment rate the country has remained stable at 9.7% this month, according to the official report on employment released on Friday, while analysts expected a decline.

Then at 21 pm on consumer credit showed an increase of 4.96 billion dollars in January in the United States, its first increase in a year and the strongest since my mid-2008, the Federal Reserve announced Friday . In December, the credit had decreased by 4.57 billion.

In the end, the Dow Jones advanced 1.17% at 10,566 points, boosted by Alcoa (+3.2%, to 13.86 dollars), Boeing (3.74%, to $ 68) and American Express ( 3.32%, to 40.18 dollars). The Nasdaq rose 1.48% to 2326 points, while Apple announced that the iPad will be available April 3, and the S & P 500 of 1.40% to 1139 points, buoyed by the telecommunications industry.

U.S. investors have also noted the announcement by the Chinese premier who has promised a 8% growth for China this year.Thursday, Wall Street closed higher on a comfortable, supported by bearings recommendations.

On the New York Mercantile Exchange (Nymex), a barrel of light sweet crude for April delivery tE, P4erminé to 81.50 dollars, up 1.29 dollars compared to the previous day.

As for currencies, the euro fell sharply Friday against a dollar backed by the release of employment figures in the United States, and reassuring the operators on the strength of the recovery of the world's largest economy guaranteed approval cash loans .

General Growth resumed its ancient symbol

Among the increases to retain this Friday, Exxon Mobil (1.67% to 66.49 dolalrs) Chevron (1.74%, to 74.35 dollars) and JP Morgan Chase (2%, to 42.76 dollars).

Remarkable progress, that of InterMune, which soared 59.4% to 23.29 dollars.The regulatory authorities have indicated it will review its drug for pulmonary fibers.

Microsoft (-0.14% to 28.59 euros): the software giant said Friday it would stick to its strategy of developing the market for search engines in China, whatever the outcome of Google dispute between the Chinese government.

Blackstone (+3.77% at 14.86 euros): the investment fund is hoping to complete an initial transaction in Australia this year and also studied business in Japan and South Korea, each operation may be about 100 million dollars, said an official with the group.

Marvell Technology Group (+1.39% at 20.41 euros): the chip maker reported a 64% increase in its turnover, thanks to a recovery of expenditure within the sector, 842 5 million dollars against 842 million expected on average.

In addition, General Growth: The title of the second American owner of shopping malls start to be traded on the New York Stock Exchange under its old symbol GGP3 "while the group is still under bankruptcy.

Minister of Budget, Public Accounts and Public Administration, Éric Woerth formally on Thursday at the High Council of State Civil Service Decree controversial mobility agents.

LE FIGARO. – What this decree on mobility will he?

Eric Woerth. – Simply apply the law passed last summer after much consultation! For officials, it will provide real career paths: a government can no longer retain an agent who found a job that interested in another jurisdiction, and it will lose more pay or seniority changing job …

Meanwhile, we are reforming the administration in depth. Services are merged, computerization is progressing: the final positions disappear.For staff whose post was abolished, the law "mobility" obliges the administration to make them three real proposals and to train them if they need while maintaining their full salary. If he refuses, the officer may be placed on standby, after consulting the Joint Administrative Committee (PAC) which comprises unions. Three new offers made on it. If he still refuses, he may be fired after a new shift in CAP.

Unions speak of a "provocation" …

This is not a red flag, but rather a white flag! The future procedure is far less brutal than the current established by the Government Mauroy. When an item is removed today, the official must accept the first assignment given to him. If he refuses, he is regarded as having abandoned his post and removed frames. He loses his rights to unemployment benefits.The rule is so harsh that it is rarely enforced.

The administration therefore pays workers who no longer work?

Twenty layoffs barely held each year for this reason. So, yes, people – especially managers – are paid when their post was deleted. It is acceptable to anyone.

Officials fear being forced to relocate or accept a position unrelated to their skills. What assurances can you give them?

The nurse turned into a sports teacher, is a cartoon! The law provides that the jobs offered will reflect the professional competence of residence and family status of the official guaranteed payday loans . The employer must meet these criteria, with review of the Joint Administrative Committee. And the agent will always go to court if he believes violated the law.The law will be applied to the quality of offers but also the consequences of six straight refusal. I reject both the caricature and the angelic being official, it is a status with rights and duties, including ensuring continuity of public service.

Seven of eight civil servants' organizations boycotted Thursday's meeting. Is this a sign of social tension?

I will chair this meeting, open to everyone to come in today – the crisis, but also the regional approach. The dialogue, at least, remains friendly, dense and direct association between unions and me. The evidence we have signed several landmark agreements, the latter again in November on the health and working conditions. Six of the eight organizations have also signed in mid-2008, a major text that redefines the union representativeness and establishes the principle of majority agreement.A slot is provided for the Assembly in late March to transpose it into law. As for officers directly involved in the reorganization, some feel, it's true concerns. This is normal because we are real reform! For us to respond by taking better account of human realities and providing clear career prospects.

Nicolas Sarkozy spoke on TF1 tenure of contract. Will you work there?

We will settle the issue this year. There are normal situations: people with CSD because they meet occasional needs or those who have chosen a permanent, sometimes better paid than the incumbents. And there are clearly abusive situations: people with recurrent CDD or CDI "sustained" on sustainable positions for no reason not to be tenured. These are cases that we review.The challenge is both financially – these people are already paid by the state – human. We must especially see how their establishment may involve the recognition of their experience. It makes no sense to send them the same competitions as external candidates as they have been working for the State.

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"Controversy about the job security of staff

"Officials from the vague to the soul

In extremis, the European Commission and the U.S. shareholders of Dexia have completed their rough Friday trading on the sacrifices that the Franco-Belgian bank will make. "This agreement ends a period of uncertainty extremely painful for the employees of the bank, welcomed yesterday Pierre Mariani, managing director, that is to say operating officer of Dexia.

In the fall of 2008, as Fortis, Dexia had found just hours after insolvent, unable to find markets daily cash needed to balance its balance sheet. Its shareholders (TFB French, Belgian holding parastatal) had flown to her rescue, and the French, Belgian and Luxembourg. Before the Commission, Dexia has also managed to restrict the amount of state aid to the only reviewed recapitalization States.This has helped limit the damage on the amount of concessions that are required of the bank.

Specifically, Dexia will in 2014 have reduced its balance sheet by 35% compared to what it was in late 2008. A goal that adds only a few assignments, relatively marginal to the restructuring plan prepared by management of Dexia itself: in addition to the scheduled liquidation of its bond portfolio, Dexia will divest its subsidiaries in Italy, Spain, Slovakia and insurance in Turkey.

For Pierre Mariani, the key challenge is won Brussels recognizes the viability of Dexia, and considered credible ability to survive without any government assistance free credit report and score . The operating loss year should reach 20 billion instead of 350 billion expected previously.

We have revised our forecast for 2009-2010 due to factors such as rising sales and cost reductions in all directions, "said in a statement the Executive Director Takahiko Ijichi Toyota."And our emergency plan to increase our profits grew faster than expected," he added.

Toyota said Thursday that the recall of several million vehicles worldwide due to problems of accelerator was going to cost between 170 billion and 180 billion yen (between 1.3 and 1.4 billion euros). The cost of the recall itself should reach about 100 billion yen, and the costs of declining sales that followed between 70 billion and 80 billion, said during a press conference the Chief Executive Toyota Takahiko Ijichi.

At the Tokyo Stock Exchange, Toyota shares ended Thursday on a further drop of 3.52% to 3280 yen. Since January 21, the group's market value has shrunk by almost 22%.

To review the year ended and provide an outlook of the beginning. It is this traditional exercise – and a little tedious – that was delivered Friday the Minister of Economy Christine Lagarde, surrounded by his secretaries of State, on the occasion of greeting to the press.

The First Minister has taken the form of the president that "the crisis is not a parenthesis" developments which France needs.And said to have taken four resolutions for 2010 around four "r": the "recovery" to accelerate and bring in jobs, the "reforms" to continue the "financial regulation" to expand and the "restoration of public finances" implement to reduce the deficit below 3% in 2013.

Christine Lagarde took the opportunity to recall the devices it intends to implement in the next two months – ahead of regional elections traditionally put a brake on projects.

It particularly stressed the measures to be presented January 20 in Council of Ministers. First the national debt, which will be a supplementary budget, and would fulfill the government's ambition to intensify research efforts to "increase our sustainable growth rate" and the competitiveness of France .On the other hand, the reform of the French system of financial supervision and the creation of the new supervisory authority of banks and insurance companies, via an order. "We want to create a true watchtower without blind spot, able to monitor risks across the financial sector," said Christine Lagarde insisted.

The boss of Renault at the Elysee

The side agreed to the performance of Friday was a bit shaken by the news about the Renault group. Invited to speak on the subject, the Minister of Industry, Christian Estrosi, said that the choice of Renault on the possible production of the Clio IV in Turkey, would be made Saturday "at the Elysee, where Nicolas Sarkozy will receive the President's automotive group, Carlos Ghosn.

Christian Estrosi went so far as to say aloud what usually expressed in more muted terms: whatever the weight of the state capital – "we have 15% stake that we have 20% – or the number of directors around the table (there are now two out of eighteen) is the Elysee will determine the strategic choices and industrial enterprise. Despite the shade provided by Christine Lagarde – which was considered "legitimate" than the French state was "consulted and give its opinion" and that "then the appropriate body to take its decision." The board will assess …

The Cac 40 opens this Thursday, for the last time in 2009, an increase of 0.38% to 3950.67 points. While many observers predicted another year of declining market share in Europe, the old continent is not doing too badly. With increases hovering around 20%, German and English indexes have achieved performance close to what the CAC 40 should finally be realized in 2009 at the end of this session shortened. For now, the French index has gained 22.3% since 1 January.

The activity should be reduced, particularly since no statistics are expected today.After closing at 14.30 it will still leave the United States, weekly statistics on employment.

Values follow

The values related to raw materials should be encouraged by new record annual zinc, aluminum and copper in Shanghai.

Geci International has conducted a capital increase reserved to two investors for $ 7.6 million.

"Traditionally, December 24, we make our biggest day of the year prevent Yannick Branchereau, director of Lavinia, a spacious wine boulevard de la Madeleine in Paris. To cope, we have doubled our team, recruited additional sommeliers. "

All the winemakers of France and Navarre are on a war footing for the wake. Yves Legrand, famous cellar in Issy-les-Moulineaux, concurs: "I am more accustomed to December 24 that every night is just the same thing: I see the land Customers who panicked dinner and I am sure. And because I assure them back! The 24 and December 31, I have ten times more, that's all! "

If wine lovers the most cautious have stored, sometimes for quite long, the bottles they will go out these great opportunities, many cicadas take it at the last moment.If it sometimes improvidence, lack of proper storage conditions and insecurity of cellars, often visited just before Christmas, there are many. Whether in the Paris region or province, the winemakers are on the frontline.

With the rise of supermarkets over the past thirty years, winemakers have suffered greatly and they now represent less than 10% market share. 15,000 in 1960, it shrank to just over 2,000 at the dawn of the twenty-first century. But for a year or two, they take up, and we can not count the number of youth going, with varying success. The rules of commerce still exert their rights, especially in this period and, provided that the site is badly chosen, failure is guaranteed.Christmas and new years are their last hope of salvation.

The supermarket has also prepared the end of the year in crowded to overflowing their shelves. Even the hard discount it is set as Lidl, which launched its "Operation Holiday Wines". But unlike wine fairs, which saw an orgy of initiatives, the council is still rare in radius: no waiters, no tastings. Before the avalanche of labels and bottles crammed with hundreds, buyers are still too disoriented, especially as the indications are rare. Nothing has changed.

Different strategies

Despite all their imagination, websites selling wines fail to respond to last minute purchases, as they stumble on logistics, classic puzzle game, but crippling, year-end.Faced with congested routes and congestion, it is almost impossible to have delivered his bottles at the last moment, even a box of wine weighs his weight against a high-tech product, and that flights are frequent.

In alliance with traditional stores, the Internet, however, its breakthrough in an original way, as in Lavinia: "Customers make their choices on the Internet and they place their orders. They come later to retrieve their cards at the store without a tail.In addition, to thank them, we give them gift of an apron. "This system was successfully tested in several stores, as in Decathlon, for example, is particularly suited to wine.

Whether by ordering via the Internet or going to see directly, the passage through the cellar, with the direct purchase from producers in production region, is the best way to square the purchase last minute. The winemakers do not all have the same strategy: Between the cellar Luxury downtown, the proximity to the narrow range, the young neo-wine merchant who has just moved or old wine merchant specializing in the sale of bulk wine, the choice is wide. Enough to embark on a program of exploration of the new year.

After months of debate, the British government seems determined to legislate on the issue of bonus. According to the Financial Times, the British government would consider introducing in its 2010/2011 budget, a "super-tax" which would tax specifically bankers' bonuses. Alistair Darling, Chancellor of the Exchequer, is expected Wednesday to unveil the outline.

In detail, the Financial Times said the tax would be collected over a certain level of bonus, for a limited period. All banks, foreign as British, there would be submitted. Alistair Darling has already said in an interview with the philosophy of planned "at a time as difficult as this one, I think people understand that it is expected that the broadest shoulders bear the weight heavier, "he said.

If this new tax should raise the ire of the City, no doubt he should be more popular among the general public, where the rating of banks is the lowest. The latest bonuses earned by traders for major banks face because the British public, even though these institutions had been massive aid of the hundreds of billions of pounds to prevent collapse of financial system.

Public Accounts bloodless

The government hopes the measure to address tensions of its population, faces rising unemployment and an unprecedented rise in the deficit, which should approach or exceed this year's 12.4% of GDP.

The British traders would thus free of the controversy that accompanied the rescue of banks.The banks are expected to share their escape all taxation, although the government had proposed to levy a tax on profits of banks. However, despite the fact that this option would yield, according to the Times, two billion pounds with a 10% tax, the idea was abandoned, the Financial Times.

Still, this measure alone would not have a heavy impact on public finances for less bloodless. Gordon Brown was to deliver a speech today on the need to reduce public spending, including Prime Minister spot reduce by four the deficit. This necessarily will involve other tradeoffs.

The Walker Report on the bonus shook the City

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Philippe Zaouati released last October "Responsible Investing: in search of new values to finance" published by Lines benchmarks.

Lefigaro.fr / jdf.com – What is the impact of the crisis on the demand for socially responsible investment (SRI)? Philippe Zaouati We first asked whether the crisis was not going to put the SRI in the background, because of other challenges faced investors (liquidity, market downturn). But in fact it has strengthened doubts about the liability of investors, and the need for simple products, with maturities of medium or long term. Historically, every crisis in financial markets has strengthened a little more investor interest in SRI: this was particularly the case after financial scandals related to Enron, WorldCom, or Vivendi.And this growth occurs with a ratchet effect: in other words, when we begin to invest responsibly, because we are convinced of the usefulness of these investments, there is no return back. But such products, now recognized by institutional investors remains unknown individuals.

Some believe however that SRI is primarily a marketing argument for management companies. What do you say? Of the managers who are interested in SRI, some are primarily interested in the potential of this market. But there are also many houses management that invest in dedicated teams, recruiting specialists extra-financial analysis, in addition to traditional financial analysts.For example, at Natixis AM, we recruited seven people who analyze only the environmental and social impact of companies and their governance, and this team will be strengthened in 2010 through new recrutements.De such dedicated teams bring their own assessment socially responsible companies, and not confined to incorporate the findings of CRAs extra financial times are updated every year or every two years. It is therefore essential for an asset manager to bring its own expertise in their management choices.Similarly, if a manager is satisfied with the credit ratings established by Moody's and Fitch to make its investment decisions, it is not serious.

How do you explain that Islamic finance is more media that SRI investments, while their positions are close? The investment managers in the Anglo-Saxon are designed as fund exclusion: companies whose products or practices do not respect the moral convictions upheld by the fund are excluded from the portfolio. It's the classic case of defense industries, tobacco, wines and spirits, not to mention companies in pornography and games. The philosophy of these funds is very close to the ethical funds, such funds islamiques.Mais there are other types of SRI investments, including those who advocate an approach of "best student", which are most prevalent in France by example.In these funds, the managers invest in every sector of companies that provide the greatest effort in limiting the impact of their activities on the environment, which seek to make social policy and governance. The general public just yet understand the logic of such funds, which are to encourage good practices, but whose message is not very clear. This probably explains why these funds are less known and less publicized so that thematic funds on the environment or renewable energy, for example.

How do you expect demand investment managers? The demand will undoubtedly increase in coming years.Starting next January, the regulations require each such company to include at least a savings fund solidarity among all funds offered under the company savings plan, it goes in the right direction to develop the SRI and solidarity among the general public. Finally, I am convinced that the share devoted to the institutional SRI, which represents between 5% and 10% today, could double or even triple within three years. Good students in social practices Respecting the environment does not suffice for a company is held responsible. It must also be transparent in its management, and be the guarantor of good social practice. Beginning with the rejection of child labor. But this social criterion also considers the role that the company gives to its employees, through such consultations.Among the good performers in terms of social practices, Natixis currently distinguishes Boiron, Orpea, Sanofi-Aventis, Essilor, Technip, Sodexo, Randstad, Ansaldo, EDF Energy and new GDF Suez.