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After a slight improvement in June, the French trade deficit is growing again. In July, he approached his record in May, to 6.46 billion euros related Customs. The cumulative deficit of the past 12 months amounted to 67.2 billion euros, against 51.66 billion in 2010. Imports rebounded after declining in June, while exports, they, are progressing very slowly.

The foreign sales amounted to 34.76 billion euros, up from just 100 million euros a month. "The strong sales of intermediate goods and automotive (…) is in fact largely offset by significant declines in aeronautics (sales and production programs for Airbus)," note Customs. The Airbus sales were $ 1.18 billion in July, after 2 billion in June. These figures are very volatile and depend on the delivery of the industry.In terms of client countries, exports to the EU declined, but remain dynamic to America no teletrek payday advance. They pack down to Asia and the Middle East.

Imports have increased their share of over one billion euros in July, reaching 41.22 billion euros. Much of this figure is driven by purchases of oil and gas products, that is to say the energy bill. But "a return to the trend of supply aircraft (Airbus program)" boosted purchases of transportation equipment, within Customs. A trend that explains the same time heavy imports from Germany, rebound largely due to imports of parts for Airbus. This is accompanied, however, "an increase in purchasing automobiles, chemicals and industrial machinery, 'the Customs.

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"Job creation slows employees

"The Bank of France reduced its growth forecast

After another clash Friday night between Barack Obama and Republican representatives in Congress, the White House will again this Saturday, the scene of fierce debate between Bush and senior Republican and Democratic policies. A new summit meeting, almost the last chance to try to finally find a compromise on measures to offset the U.S. debt, on which are fighting foot by foot for weeks the two historical parties.

Are expected at the White House to 17 hours (French time) John Boehner, Republican leader of the House of Representatives, Harry Reid, the chairman of the Democratic majority in the Senate, Mitch McConnell, the leader of Republican senators and Nancy Pelosi, head of the Democratic minority in the House, all four urgently summoned by the president.

Obama too demanding

That night, the U.S. has escalated in the power struggle between elected Republicans and Democrats. Having failed to reach an agreement with Barack Obama, Republican John Boehner, slammed the door to negotiations with the president.

At issue this time, according to Boehner: will the Democratic president to push through $ 400 billion of additional tax increases. A demand unacceptable, according to Boehner, while the two sides had previously agreed to a ceiling of one trillion dollars in additional tax revenue.This Saturday, the threat of a default by August 2 of the world's largest economy has thus further increased.

Of default formally excluded

The President has convened a number of political leaders to an emergency meeting Saturday afternoon at the White House to try yet again to reach compromise. Both sides say they are confident of raising the debt ceiling (14.294 billion U.S. dollars), reached on May 16, but whether common ground had been reached on the amount of the uncapping. Barack Obama and John Boehner have ruled out a formal non-payment within 10 days.

But the talks still face the question of the amount of budget cuts and debt reduction.Republican side, John Boehner said that after the new clash, he preferred to look to the leaders of the Senate to find a "reasonable" on these issues. Which casts a big doubt about the outcome of negotiations Saturday with the president, which is called Boehner. Democratic side, Barack Obama is prepared to assume full political responsibility to raise the debt ceiling in order to unlock at least for a time, the status quo. "If that's all Congress can do, I will sign an increase in the ceiling to take us to 2013," the president said.

Obama recalled that he had proposed to the Republican's $ 1.65 trillion spending cuts various offers an "extraordinarily fair" said the president.But still not enough for John Boehner, who accuses the president's inability to take "tough decisions" on reducing public spending. Boehmer wishes to bring to the 3 trillion budget savings over 10 years.

Ds critical deadlines

The time to find common ground is critical. The readiness of Barack Obama to convene a further meeting this Saturday is a sign that the U.S. president does not want to wait until the deadline of August 2 to reach an agreement. "We have more time in front of us," he said.

Recalling that Wall Street opened Monday, the president pointed to the impact on financial markets of such uncertainty. "Americans are outraged" by the inability of Congress to act, he said.This willingness to find a solution is also shared by the Republican camp, in which counsel highlighted the urgency of an agreement by Monday. What then leave both parties ten days to write a non-redundant legislation and get it validated by Congress.

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"Debt – Obama speaks of progress

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Barack Obama sought Monday to change the tone of the negotiations on reducing the budget deficit. "I am ready to face criticism from Democrats for an agreement that allows to raise the debt ceiling," said Monday the president of the United States, before resuming discussions with congressional leaders have fallen into the impasse. "We will reach agreement before August 2," promised the president at a press conference.

Placing himself as an arbiter between the two factions partisan, Barack Obama said: "The Republicans are going to have to compromise, as the Democrats." He hoped that the negotiations continue "all day", "until a solution is found."

Their challenge is twofold. The first is to adopt a compromise that reduces the medium to long-term U.S. budget deficits.But the compromise also depends on the adoption by August 2 of a law that raises the ceiling for the debt of the United States. Otherwise, the U.S. Treasury would no longer issue the bonds needed to honor the debts of Uncle Sam was general such a defect of the United States would have catastrophic consequences for the entire global economy.

Avoiding tax increases

During the weekend negotiations have stalled or even declined. Democrats accuse Republicans of blocking any agreement by refusing the principle of tax increases. For their part, Republicans reject the approach proposed by Barack Obama on an ambitious four trillion dollars in savings over ten years.They are rather a compromise of around 2 trillion, thinking to keep their campaign promise to block any tax increase.

To complicate matters, the elected Democrats have their doubts about the path traced by the White House. Barack Obama asks them, in fact, painful concessions in the form of savings in programs popular pension and health care. Yet the Democrats do not want to pay the price in the November 2012 legislative concessions that make a great historical compromise personal serving the cause of Barack Obama but not his party.In addition, the recent rise in unemployment leads them to reconsider their promise to reduce government spending made a few weeks ago as part of negotiations led by the then vice president, Joe Biden.

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What do you think this initiative by the British retailer Tesco in South Korea, which allows customers to shop in the subway?

It is first and foremost a marketing coup. Tesco is thus found in a modern day, is displayed at the forefront of latest technological innovations. It is a showcase, which due to its exceptional side, can promote the brand in the world, not just in Korea-du-Sud. For convenience, I do not think waiting for a subway train is the best space-time to go shopping …Ultimately, this may be convenient for some occasional purchases, but we will not fill his cart with 50 products in virtual stroll along a crowded dock.

In its promotional video, the retailer is betting to develop without physical opening of hypermarkets, while stating that fill his truck is increasingly seen as a chore …

True, but again, the subway is not a place suited to supply his larder. On the other hand, we can already go shopping on the subway-or any other place, using a smartphone connected to the Internet. Some retailers have already launched e-commerce applications that allow specific to shop and have them delivered at home.The American distribution, for example Amazon gives this possibility to its customers.

However, can we imagine the future of virtual supermarkets to open in place of traditional retailers? This would help retailers to make significant savings on logistics …

Shopping with a mobile scanning cryptograms is not really practical! And if so, what is the point to go to the store, then you can order from home via e-commerce sites? However, distributors do seek how to take advantage of m-commerce [trade through mobile, note] no fax pay day loan. Some think, for example at the opening of showrooms to boast a handful of new products, which could include purchase and take delivery via a smartphone.But this type of project is still in the pipeline.

What tomorrow will look like m-commerce in the distribution?

Initiatives will gradually emerge. The advantage of m-commerce is that you can set up "stimuli" throughout the city, like some promotional posters in the subway showing visual cryptograms. Once registered via a smartphone, they can learn about the offer, or buy the product directly boasted. But we must not forget that everyone does not have a smartphone in France *, unlike South Korea where the penetration rate is much higher.This is particularly the reason why this country is the world leader on the development of e-commerce and multichannel distribution, based on the joint development of natural supermarkets and online offerings.

* Nearly one in three French (31.2%) have a smartphone, according to figures published in March 2011 Médiamétrie.

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"7% of French people are already buying their mobile

"The mobile phone, new payment

Parisian investors tried to back up the hill after a session that began in the 3900 ACC 40chuter points. But to no avail. After taking all morning, the benchmark index of the Bourse de Paris digs its losses to 15 hours (-0.92%) at 3854.15 points, after the announcement by the U.S. Department of Labor unemployment figures very disappointing for the month of May. Same scenario elsewhere in Europe, the Dax index featuring the Frankfurt Stock Exchange Folding of 0.47% to 7041.04 points while the FTSE was down 0.59% to 5813.26 points.

In addition, investor optimism is reinforced by the continuing problems of sovereign debt in Europe.Today Greece and the "troika" will unveil details of an upcoming fiscal tightening.

Finally, operators are troubled by bad macroeconomic indicators in the U.S. which suggest that the recovery is still difficult for the world's largest economy. Yesterday, the bad news is still chained to the front of the productivity, prevents Wall Street rebound. This morning the Asian market was also very mixed. This especially since the rating agency Moody's has threatened Thursday to put the debt rating of long-term United States, currently at AAA, on negative watch.

The service sector slows in Europe

Finally, the wait dominates before the publication of several important statistics.In France, growth in services sector activity slowed slightly in May but remains close to the peak of nearly 11 years hit the previous month, final results showed on Friday of the monthly survey from the Markit Purchasing Managers . PMI Segment income $ 62.5 after hitting 62.9 in April, its highest level since September 2000. An initial flash estimate of 62.8 gave the May 23

This same index slowed sharply in Germany last month to 56.1, its lowest level since October against a flash estimate of 54.9 and a figure of 56.8 in April.

Then the United States, the appointment of the day will be the publication of the monthly report on employment from the Labor Department low rates payday advance. Then comes the ISM services.

As for currencies, the euro, which climbed to over $ 1.45 yesterday, continues its recovery. It traded at 1.4482 dollars this morning.Oil prices were also rising in electronic trading in Asia, due to the decline of the dollar, prompting investors to buy commodities. In morning trading, a barrel of light sweet crude for July delivery gained 20 cents to 100.60 dollars. That of Brent North Sea crude for delivery same took 24 cents to 115.78 dollars.

Values ​​to follow

The banking industry is again monitored while the budget plan for Greece and the "troika" will be unveiled. BNP Paribas (+0.78% at 52.82 euros), Societe Generale (0.57% to 40.43 euros), Credit Agricole (+0.48% to 10.40 euros) move.

TF1: -0.32% to 12.39 euros

Media rights to Roland Garros on Europe, formerly held by Eurosport (TF1), will change the diffuser to be allocated to the agency MP & Silva from 2012.

Vivendi: -0.18% to 18.91 euros

SFR announce next week an overhaul of its mobile offerings and partnership with the broadcast site Spotify music on the internet, writes La Tribune. The telecom operator will hold a press conference Tuesday, June 7

Thales: 2.54% to 29.68 euros, Safran: 1.89% to 28.30 euros

Discussions between the two groups regarding an exchange of assets will be using a mediator, Aldo Cardoso, former head of Andersen's consulting firm, said Friday the newspaper Les Echos.

Renault: 0.70 to 38.16 EUR

The manufacturer believes that the shortage of diesel that has weighed on its registrations in the month of May in France will be eliminated in the second half, especially against the backdrop of the expected slowdown of the market, told The Tribune on Commerce Director of the French subsidiary.

Trading in Dexia shares was suspended on Friday morning around 10:30. The Belgian financial markets authority, to stop this initiative, said that trading will remain suspended until Dexia publishes appropriate information, "a term traditionally used when a group is preparing to publish sensitive information in the next few hours.

According to information from Wansquare, Dexia has decided to settle faster than expected its portfolio of toxic financial assets. The bank will acknowledge in the second quarter of 2011 a special provision of 3.6 billion euros. "

The bank, which escaped bankruptcy in the fall of 2008 thanks to the bailout carried out by the Belgian, French and Luxembourg, was forced last year by the European authorities to divest some of its activities in exchange for aid received during crisis.Not long ago, the European Commission delivered a blow to pressure the U.S. shareholders of Dexia and the Belgian bank accused of not respecting the route plan it had agreed to pay lip service in February 2010. Pierre Mariani, Dexia's managing director, argued therefore for an acceleration of sales of the group, the risk of large losses. His plan: sell bulk whole sections of the 138 billion euros of assets under management now in extinction. Dexia has a particular yield-Deniz Emeklilik, its Turkish subsidiary of insurance. According to press reports, five candidates are still in contention, with French AXA and CNP Assurances.

Thus, once operations resulted, Dexia will be totally released from the mix of public support and the constraints imposed by Brussels."There will be no consequences in terms of liquidity," says Wansquare.

For now, Dexia declines to comment on the reasons for the suspension of trading. Dexia shares was suspended while she was 3.24% at 2.514 euro, lost 3.3% since the beginning of the year after dropping 38.9% in 2010.

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"Dexia Brussels delivers pressurized

Member states of the International Monetary Fund (IMF), announced that the race to succeed Dominique Strauss-Kahn to head IMF will open on Monday. The board of directors composed of representatives from 24 countries and country groups, will collect applications until June 10 nominations. He has set a "target" to designate a replacement directeurdémissionnaire and prosecuted for sexual crimes in New York "by 30 June."

The board has promised that that choice would be "an open, merit-based and transparent." In a statement, the U.S. Treasury secrétaie, Timothy Geithner had these words, calling hopes for the selection process "open and fast."The procedure that has consistently taken a European to head the institution in Washington, however, remained unchanged.

The "consensus" is not unanimously

If there are three or less, they will be revealed at the closing depots, June 10 If there are more than three names will be kept confidential to determine time preference "by consensus", except by a vote, a shortlist of three candidates in the best position. The Board may also select the chief executive by majority vote.

On Thursday, India's representative on the board Arvind Virmani had told AFP he wanted a vote, more "democratic" consensus that is "not transparent".It has not been heard.

The daily procedures of the Board of the IMF mix a little of both: the 24 members vote formally well, but in practice they do not submit voting decisions over which they have previously agreed. Daniel Bradlow, professor of law at Washington specializing in international institutions and the IMF, the transatlantic axis remains dominant in every way. "Voting does not necessarily mean democracy. Even imagining a secret ballot, administrators do not necessarily want to go against a European given as a favorite, nor among those who do not announce publicly that they voted for the new CEO, says he AFP.

The emerging shared

The European continent has clearly shown its desire to present a candidate, Christine Lagarde the French who appear to be the favorite.Last votes to rule in his favor, his German counterpart, Finance, Wolfgang Schäuble, who has judged Saturday "as a perfectly appropriate person for this position."

Countries emerging BRICS (Brazil, Russia, India, China, South Africa), which could provide a solid weight-cons to a European candidate, showed no unity.

The Brazilian Finance Minister Guido Mantega is not completely hostile to the idea of ​​a European, although he preferred a priori elsewhere. Moscow already has its candidate, Grigory Marchenko Kazakh. South Africa and India could push the front of the stage they are ready candidates, respectively Trevor Manuel and Montek Singh Ahluwalia. And Beijing is considering to submit one, that has not been clearly chosen.

Another emerging importance, Mexico, now officially campaigning for the governor of its central bank, Agustin Carstens.The Turk Kemal Dervis, who was considered a good compromise between the European and emerging markets, had withdrawn from the race.

The United States, without whose support it is not possible to win, wanted "a candidate with strong experience and leadership qualities required, and able to obtain broad support." Very popular in Washington, Christine Lagarde fits this description.

The description of the ideal candidate given by the IMF is almost the same as when recruiting Dominique Strauss-Kahn in 2007: "outstanding experience in the design of economic policy at high levels, which helps finance ministers , or "communicating effectively", a quality attributed to the French minister for those who soutiennent.Timothy Geithner, who regularly meet at the G8 or G20, wrote in Time Magazine in May 2009 she was one of these "extraordinary individuals" that the world needed at crucial moments such as those caused by the financial crisis.

(With agencies)

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The NYSE has hesitated Thursday. After starting down (-0.20% for the Dow Jones), the indices have found the path to higher late morning due to a rise in oil prices. At closing, the Dow Jones gained 0.52% to 12,695.92 points, the Nasdaq is 0.63% at 2863.04 points and the S & P advance of 0.49% to 1348.65 points.

This return was made in the green at the same time as the rise in oil prices. The latter, who had also opened lower at 96.96 dollars, recovered after a sharp color correction yesterday, the falling dollar has helped offset concerns about the request. On the New York Mercantile Exchange, crude for June delivery gained 76 cents, or 0.77%, to finish at 98.97 dollars a barrel, having fluctuated between 95.25 and 100.49 dollars.Brent for the same period has gained 41 cents to 112.98 dollars a barrel, after having moved between 110.15 and 114.56 dollars.

Greece worries

The caution remained, however, put: "The concerns about Europe and the debt crisis with the International Monetary Fund warning of a risk of contagion from the situation in Greece, the indicators of China earlier this week, The warning from the International Energy Agency on oil demand, it all comes out at once and shower market, "said Phil Flynn of PFG Best Research.

The fiscal situation in Greece still disturbs the meeting.Thousands of Greeks have shown Wednesday, the day of general strike against austerity measures and privatizations decided by the government that seeks new international aid to avoid a debt restructuring of the country.

In the wake of these events, the euro fell sharply against the greenback, falling below $ 1.42 Wednesday. But about 20 hours, the single currency rises. The euro bought 1.4266 dollars at that time against 1.4193 dollars late Wednesday.

The jobless claims fall

On the macroeconomic front, retail sales rose slightly less than expected in April in the U.S. (+0.5% against 0.6%), posting their smallest increase in nine months as rising prices Food and fuel accounts for household spending.The producer prices have increased them by 0.8% in April according to figures released Thursday by the Labor Department, more than expected by analysts who had forecast 0.5%.

New jobless claims fell to 434,000 during the first week of May, according to figures released Thursday by the Labor Department, down nearly equal to the unexpected increase in the previous week.

Finally, business inventories rose more than expected in March, while sales posted their largest gain in a year, suggesting that first-quarter GDP will be revised upward, said Thursday the Commerce Department.Inventories rose 1.0% to 1.476 billion dollars, its highest level since November 2008, while economists polled by Reuters had waited an increase of 0.8%.

The energy sector rose

The oil companies, heavy odds, penalized yesterday by falling prices, have contributed to their rise Thursday in the image of Chevron (+0.52% to 102.79 dollars).

Cisco (-4.78% to 16.93 dollars) unveiled for the fourth quarter 2010/2011 sales of $ 1.67 billion, up 9% and net profits tax of 168 million dollars against 184 million last year. For the current quarter, the software company believes that business prospects are mixed and the current quarter will be "low" according to the leaders.

The publisher of security software and antivirus software, Symantec (5.20% to 20.42 dollars) has announced earnings per share of 38 cents against 36 cents expected by analysts, and a turnover of $ 1.67 billion also exceeded expectations of analysts who had forecast $ 1.6 billion.

Google Internet group (-0.07% to 535.05 U.S. dollars) will launch next month the first computers using its new operating system chrome, representing a total challenge to the business model of Microsoft with its Windows system.These computers manufactured by Acer and Samsung, will have the distinction of having the browser Chrome only software preinstalled.

The U.S. internet group Yahoo! (-0.17% To 17.17 dolars) is still buffeted stock exchange after revealing that a subsidiary of the Chinese payment service online Alibaba Group, where he has a major stake, was passed under the control of boss Jack Ma of Alibaba

The rating agency Standard and Poor's said Wednesday evening that she fell a notch to "BBB" rating of the chemical group Dow Chemical (-0.21% to 38.92 U.S. dollars) with a stable outlook, due to the progress of its results and its prospects for debt reduction.

Also note, the leaders of telecom operators AT & T and T-Mobile (+0.13% to 31.42 dollars) clashed Wednesday night on U.S. lawmakers skeptical of their merger at $ 39 billion, announced in March . "Now four companies control nearly 90% of the national market of mobile telephony," said Democratic Senator Patrick Leahy. He called the competition authorities and Communications to conduct an extensive review of the transaction.

"The legislation governing the couples and the Labour embarked on a chase. The great divorce reform of 1975 was followed in 1979 by the introduction of fixed term contracts (CDD).

Lawyers are rubbing their hands across the Atlantic. The market for divorces finally woke up after two years of torpor. "They started to leave at the end of 2010, when their numbers had fallen by 24% in 2008 and 57% in 2009, has awarded Linda Lea Viken AFP, the president of the American Academy of Matrimonial Lawyers. It's not just the legal profession to be welcomed in a country that counts normally breaks matrimonial 4.95 per 1000 inhabitants each year. World record is almost two and a half times more than in France. The upswing of the "separations" better expresses the country's economic health.If the Americans dare to part again is that they feel strong enough to face a financially costly operation.

Cheers flexibility, spring's traditional America, its prosperity and its mores, whether contracts of employment or marriage. United States, the standard is ten times change employer in his life, likes to recall former President Bill Clinton. This is much less in Europe.A study of the ad hoc International Labour Office, the German spends an average of 10.7 years in the same company and the French 11.3 years.

More than one in two marriages ends in divorce

For their part the French would they be more mobile in their private lives and in their professional life? That is what the sociologist Jean Viard says: our countrymen remain in their seven years and twelve couples with the same employer, had launched the author of In Praise of mobility, at a conference of parliamentarians UMP shocked by such a revelation . These statistics do were confirmed either by INED, National Institute of Demographic Studies, or by INSEE, the trend is real and underlined.

To judge the divorces in France, it is obviously misleading to report their number (130,601 voted in 2009) to that of marriages in the same year (251,478).And conclude that "more than one in two marriages ends in divorce." This rate of "divorce", a term the Ministry of Justice does not provide information on behavioral changes. Demographers proceed otherwise. They restore, generation after generation, the fate of unions. According to figures provided by France Prioux, a demographer at INED, 30% of marriages registered in 1970 ended in divorce, and this rate has steadily increased. It was 40% for marriages contracted in 1986 and 43% for married year 1992 payday loans with no fax. These projections, we said France Prioux only way to compare the routes, not yet complete, of generations as far as 1970 and 1992.

The side of the job market, things seem less clear.INSEE has just informed us that in 2009, 42.1% of employed persons in the same company for over ten years, all sectors combined (a photograph of the labor market in 2009). With peaks at 50.2% in industry and 57.3% for farmers. The crisis has prompted employees to remain in their company when they have not been dislodged by a "social plan". They were only 41.8% have a tenure exceeding ten years in 2008.

Since the early 1970s, couples and laws governing the Labour Code have embarked on a bizarre chase. The great divorce reform of 1975, establishing the procedure by mutual consent, was followed in 1979, still under the seven-Giscard d'Estaing, the introduction of fixed term contracts (CDD).In 1999, the creation of the PACS (Civil Solidarity Pact) offered a substitute for marriage, including homosexuals. Then the new simplified procedures for divorce in 2004 encouraged Florence Parisot, the president of MEDEF, in 2007 to ask (and get) a "divorce by mutual consent" between the company and the employee. But for now, advantage to love, including leases, more and more temporary, could in future be shorter than the labor contracts.

Ode to mobility

This hymn to mobility also money, third vital point of the triangle. "It is easier to change bank woman, ironically there are still some great banker instead. He stigmatized the administrative complexities inherent in this kind of operation.This is less true since the legal obligation in 2008 to establish a service in each establishment of "mobility aid" to its customers.

As for transport, their progress is measured in kilometers. In 1950, every French walked five kilometers a day, while he performs now 45, likes to emphasize the sociologist Jean Viard. Unfortunately, the ease of such material has to travel daily to more expensive counterpart perverse unprecedented housing in downtown. "There all is order and beauty, luxury, calm and pleasure", but inaccessible to the homeless near ", which should mobilize their time and energy to get to the grind. Should there be one day avoided the elevators in the big cities in order to reintroduce a social mix? In the nineteenth century, the less fortunate living on the upper floors where they climbed on foot. A lesser evil.

Intel takes a step back to get a place in the market of smartphones and touch pads. Wednesday night, the U.S. group announced the launch of a new generation of processors manufactured in three dimensions, which must make greater performance without increasing power consumption. "We have once again reinvented the transistor, welcomed Paul Otellini, CEO of Intel.

Transistors are like switches. They were so far consist of a stack of layers in two dimensions. The upper part acts as a "gate", which passes or blocks the flow between two components of the lower layers, the source and drain. But as the size of transistors has been reduced to a few nanometers, the conductive material between these elements are also refined, increasing the risk of current leakage.To remedy this, it needed to increase consumption.

The development cost under control

Faced with this challenge, Intel has changed its manufacturing process by embedding a thin part of the lower layer in the "gate" located above (see chart below). Thus, the current control can be done in three tranches of the fin, instead of one. "This allows the transmission of as much current as possible when the transistor is in active mode (in order of performance) and as close to zero as possible when it is in off mode (to reduce power consumption)," says Intel .

With this new architecture, the current control is performed on three slices (yellow).