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After finishing the day in the green yesterday, gaining 1.50% to 2984 points, the CAC 40 tackles the session close to balance, falling symbolically 0.04%% to 2982.86 points on Wednesday, pending an important decision of the U.S. Federal Reserve (Fed). After a two-day meeting, the institution is expected to announce measures to support the U.S. economy. The wait seems high, especially since the day before, the International Monetary Fund has raised the specter of a recession in the world by launching "a strong call to action" at the announcement of its lower growth forecasts for the global economy. This should amount to 4% for both 2011 and for 2012, 0.5 points less than the 4.5% announced in April.However, "given the weakness in economic indicators, it is almost certain that the Fed will do something but it is difficult to know exactly what," noted economists from Capital Economics.

Investors should in all cases be cautious on the Old Continent, especially after the deterioration of the Italian sovereign debt on Tuesday, which must be added the absence of a clear response from the area in the euro area on the Greek crisis. The conference held the day before between the Greek Finance Minister Evangelos Venizelos and the heads of mission of the "troika" of the creditors of the country has still not been completed. Only "good progress has been made," the European Commission ruled in a statement. Yet it must release the next tranche of aid and vital in Athens 8 billion euros.The Greek authorities are pressed by their foreign creditors to accelerate the reduction of budgetary expenditures, while the other side, protesters denounced the daily ravages of austerity.

Brazil could help the euro area

In addition, the Greek daily Kathimerini Athens unveiled Tuesday would consider holding a referendum on the continuation of Greece in the euro area to strengthen its legitimacy in its management of the debt crisis. A bill prior to the referendum would be discussed in the coming days, the newspaper said, quoting unspecified sources.Athens, however, denied such a referendum.

While the BRIC countries (Brazil, Russia, India, China and South Africa) had indicated last week the possibility of supporting the euro area by increasing their holdings of bonds, the President of Brazil, Dilma Rousseff, confirmed this position at Barack Obama on Wednesday at a meeting in New York.

On the macroeconomic front, the United States, home resales for the month of August are expected in 16 hours as the weekly inventory of crude oil at 16.30.

In Britain, the public finance figures for August are expected.

In Italy, the current account balance for the month of July will be published.

In Japan, foreign trade figures for August will also be unveiled.

On the foreign exchange market, the euro remained stable against the dollar Wednesday after Greece has reported "satisfactory progress" with the troika of creditors, but the markets remained nervous awaiting the announcements of the Fed . Around 8 am, the European currency was worth 1.3703 dollars against 1.3702 dollars the night before.

As for oil, it was down Wednesday morning in a market desperate to face the crisis of debt in the euro area, pending a decision by the Fed to promote economic recovery of the largest consumer of crude in the world.In early electronic trading, a barrel of "light sweet crude" for October delivery gave up 53 cents to 86.38 dollars per barrel of Brent North Sea crude for October delivery lost 37 cents to 110.17 dollars.

Values ​​to follow

• Banking

After the degradation of Italian sovereign debt, Societe Generale, Credit Agricole and BNP Paribas, which are exposed, will still be observed.

Attention will also Dexia, which would have allowed for 25 billion euros in loans toxic entities in 5500, according to Liberation.The additional cost of these credits was estimated at 3.9 billion euros at the end of 2009.

• Bouygues

The group filed with the Autorité des marchés financiers (AMF) the prospectus of the takeover of shares of € 1.25 billion announced on August 31, at 30 euros per share.

• Saffron

The aerospace equipment mandated banks Mediobanca and UBS to bid for the Italian manufacturer of aircraft engines Avio, reports the newspaper front page.

• Canal +

The Competition Authority decided Wednesday to withdraw the decision to authorize the merger of satellite packages CanalSat and TPS, completed in 2007, finding that Canal Plus had "failed to comply with a number of commitments" made to avoid misuse its dominant position.Groupe Canal Plus also sees a fine of 30 million euros.

• JCDecaux

According to Les Echos, the group won an exclusive contract advertising on two subway lines in Chongqing in China for a period of 15 years, but did not disclose financial details.

• Le Noble Age

The company announced in a press up all its results in the 1st half (34% to 3.68 million euros for the net) and confirmed the increase in its forecast of EBITDAR margin ( Operating income before depreciation, amortization and rent) at cruising speed greater than 27% by year end.

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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The Asian market returns to the green on Wednesday. Investors in the region are encouraged by the rebound recorded in the markets of Europe and on Wall Street yesterday, despite dominating the wait before the meeting of Heads of States of the euro zone on Thursday. Moreover, U.S. President Barack Obama has sought reassurance on the issue of sovereign debt of the United States. He found "consistent with (its) approach" on raising the debt ceiling a new plan presented Tuesday the Senate, and held that "progress" had been made in negotiations with his Republican opponents.

Finally, another source of motivation for investors: the good results from Apple. After those, equally good, IBM, the group reported Tuesday a quarterly revenue again well above expectations, driven by strong sales of iPhones, particularly in Asia, and tablets iPad.This new support this morning all the technology stocks in the region.

In Japan, the Nikkei shows a rise of 1.15% at 10,003 points at a time of closing, including increased by Pioneer (3.12%), SoftBank (2.61%), Toshiba (2 , 99%) and TDK (3.18%).

The Stock Exchange of Hong Kong more timidly climbed from 0.10% to 21,914 points. The bank is on the rise as Bank of Communications (0.91%). In contrast, the Shanghai Stock Exchange was down 0.41% to 2785 points. In Korea, the Kospi up 1.15% and the Indian Sensex gained 0.36%. The S & P Australian advance of 1.60%, boosted by the progresison heavyweight BHP Billiton (1.64%), which announced that a new record for annual production of iron ore. Action News Corp (3% to 14.94 dollars) is also continuing its rebound after the hearing of his boss Rupert Murdoch in front of British parliamentarians.

Oil up

Oil prices were also up Wednesday in electronic trading in Asia, with investors encouraged by the figures better than expected real estate in the United States, analysts said.

In morning trading, a barrel of "light sweet crude" for delivery in August took 80 cents to 98.30 dollars. That of Brent North Sea crude for September delivery took 69 cents to 117.75 dollars.

Nikos Aliagas will make his return to radio. It will be on Europe 1, to interview people in the new morning Bruce Toussaint. Just a month after announcing his departure from the "6 / 9 'NRJ, with a simple tweet, the host TV and radio back then the tape. Denis Olivennes, the head of the Lagardère group's television station, confirmed Tuesday morning on Twitter.

For its first grid back, the CEO of Europe 1 has muscled its morning. At the helm, Bruce Toussaint, a defector from Canal +. To maneuver for political and big personalities: Jean-Pierre Elkabbach retains his interview. For humor, Nicolas Canteloup has re-signed for a season and retains his column, which is a peak audience of the station with 1.4 to 1.6 million listeners.In a grid, which reaffirms the primacy of the information, Nikos Aliagas therefore takes the side of people who had been introduced by Marc-Olivier Fogiel in his morning.

Moderator contract of TF1, Nikos Aliagas presents "50 Minutes Inside", the magazine of a people. On the radio, he has succeeded in redressing the morning of NRJ in two seasons only.

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It is a cost saving measure which could be costly to the retail sector. Since the 35 hours, some retailers have interpreted the collective agreement for the sector in order to integrate the pause time employees in their base salary, minimizing the amounts payable. Including weekly break 2:30, this reasoning led by example, these companies, including Carrefour and Auchan, to pay their employees 35 hours of 37h30 only for work performed.

An analysis that justice has once again contradicted. After stopping the founder of the Supreme Court in 2008, the police court of Evry has indeed Carrefour sentenced Tuesday for non-compliance of minimum wage, requiring $ 3.6 million in fines.Although already substantial sum, but could be just a small fraction of those signs will have to pay in future years, as part of trials this time brought to tribunal.

For employees who have recently been successful with these professional bodies are gradually their first back pay for substantial amounts. "The 119 employees of Carrefour stores in Angers and Cholet who complained received an average of 2,941 euros on their payroll for the month of May for five years of unpaid breaks. The amounts paid ranged from 1360 euros to 6156 euros depending on the level and seniority of the person concerned, "said their lawyer, Bertrand Salquin. The amount of this money could help to motivate other employees to complain to their turn."Already, actions are underway to industrial tribunals against Auchan, Leclerc or Intermarché. We currently have 2000 files in process, "said Aline Levron, Secretary General of the Federation Services CFDT easy payday loans.

Snowball effect

"It is clear that these disputes will snowball, analysis of his side Gwénaëlle Arthur, a lawyer in employment law at Staub & Associates. Faced with potentially amounts claimed, the signs will probably no choice but to negotiate with the social partners a global settlement. " All non-managerial employees are indeed potentially affected. Nothing at Carrefour, approximately 60,000 people who could claim to collect back pay, for a total of several million euros, says Mr. Salquin.

At Carrefour, it defends itself by stating that employee compensation is above the minimum wage. Since the decision of the Court of Cassation in 2008, the agreed wage has indeed been raised throughout the industry to 105% of minimum wage, to cover the break time. The group also argues that by adding to wage conventional profit-sharing and participation, pay its employees well above the statutory minimum, like the cashier whose salary of 1612 euros gross excess of 18 % the minimum wage.

"It's called a red herring, says his side's secretary general of the CFDT services. We do not dispute the existence of these benefits. But if Carrefour meets the minimum wage in effect since 2008, this does not solve the issue of non payment breaks, for which the group has already been sentenced to an employment tribunal. ""HR departments of large retailers will have a job in the coming months!" Says Mr. Arthur.

"You've worked in retail and you feel concerned by this issue? Tell us your story in the comments area below.

In the video game world, the news is a bombshell. May 25, shortly before the show at E3, which opens Tuesday in Los Angeles, the Guardian revealed that in addition to forced labor, Chinese prisoners were forced to play World of Warcraft, the famous game of massively multiplayer online role. Dali Liu, a former prisoner, told the British daily's website how his jailers forced him to reap gold, swords and other virtual goods for their own account. These unscrupulous guards then sold the artifacts to other players via the Internet. But against the euro or dollars, them real.

Better known as the "gold farming", the process-illegal because contrary to the licensing of Editors, is not new. It developed in the course of the 2000s with the rise of video games massively multiplayer online.Among the best known: the game is medieval style Everquest, Eve Online Space Simulator … And of course the blockbuster of the moment, World of Warcraft. Published by Blizzard Entertainment in 2004, he assembled to date no less than 11.4 million players worldwide. And as many avatars, virtual alter ego, who jacked, cast spells and traded in a fantasy world of dungeons and dragons. All seek to ramp up. To skip steps, or simply lack of time, some are willing to change. There involved the "gold farmers", organized into groups of players 'professional'. According to a World Bank report published in April, there are about 100,000 to live in this activity, whose main body (80%) is based in China. Despite their efforts, videogame publishers are struggling to fight against this practice.

Because the Web is full of more of these "gold hunters, who conduct their business with impunity. Gamesinfun.com the site, a player can buy World of Warcraft 2000 gold virtual for the modest sum of 2.85 euros. To reassure its customers, the site (which did not respond to initial figaro.fr) ensures having "a great professional team of full-time employees. All are 'the' players 'veterans', with an "experience of at least three years in this position." Leben for Henri, a lawyer specializing in video game and intellectual property, "put an end to the activities of the 'gold farmers' is very complicated.""Most of them are based in China, they are small and have no legal existence." It is almost impossible and too costly to attack them legally, especially in the absence of a real international legislation on the Web.

Hackers looking for easy money

Besides these gold hunters, the rarity of these virtual objects also attracts hackers looking for easy money. Hacking into the accounts of certain players, they can then offload the avatar attacked its artifacts to sell on the Web. If Blizzard did not respond to our questions, the hotline operator of World of Warcraft French confirmed that "more and more players are seeing their accounts hacked." Similarly, Henry Leben, confirms that "the counting of avatars is becoming more common."Recently he has also held the record of a "wise guy" who took advantage of a vulnerability to supply his account rare objects, and reach a high level. Result, "he was stronger than everyone, and many players have complained," he says.

Director General of the French Agency for the video game (AFJV), Emmanuel Forsans is hardly surprised by these developments. "While this may seem a bit absurd to spend sometimes hundreds of dollars for a virtual object, which is nothing but a line of code … But we must understand that players purchase and time Thurs And that, to remain competitive compared with the community.

He added that many fans braved the ban by marketing them directly to their avatars or rare objects, without the publishers on the frontline.In 2007, a player has spent no less than 9500 dollars (7300 euros) to afford the "Double Blade Azzimoth", a unique weapon for World of Warcraft. To justify the tolerance of editors in such cases, Emmanuel Forsans evokes a desire to preserve the "playability" of the title. "In this type of game, players are organized into guilds. So, if one of its most powerful members has to leave, he puts the whole group at risk, "he argues.

An economic model changing

Publishers were they caught in their own trap? This would explain why their policy is based more on educating players to take repressive measures too, which might displease the subscribers. On its website, Blizzard, just to alert the community about the negative consequences of "gold farming" on "performance and stability" of the gameNot really enough to discourage "gold hunters" and their customers …

However, some massively multiplayer games beyond successfully "gold farmers" and their negative impact in terms of image. This is the case of Dofus, the title most in France played in its category (three million fans logged per month), which claims 40 million accounts created in the world. And for good reason: it has still not been translated into Chinese. If Florence C Ruocco, the communications manager of the game developed by Ankama denies any deliberate strategy to avoid the "gold farmers", she concedes that "this is probably why the title suffers less from these problems" .

Still, the economic model of these games tends to evolve, especially because publishers see a dim view this parallel market their escape.Clearly, according to Henry Leben, they want their share, which amounts to $ 3 billion, according to the World Bank. Thus, the game Castle of Heroes, developed by the Chinese Suzhou Snail Electronic offers its players to gain levels or various objects through the purchase of gPotato, the currency of the game at this rate, betting that the price of 'virtual gold could one day face the same bouts of fever that the real yellow metal.

"The leaders of the prison were earning up to 570 pounds per day"

After five years in the camp Jixi in Heilongjiang province in China, Liu Dali, recounted her ordeal at Guardian Digital. "We worked for twelve hours straight. [The guards] Never turn off the computers. If I could not reach my quota, they punished me physically.They forced me to stand with their hands in the air, then hit me when I came back in the dorms. We continued to play until you can barely see the screen. "According to him," the leaders of the jail earned more money by forcing prisoners to play online by requiring them to do manual labor. " In this way, these unscrupulous jailers could pocket "up to 570 pounds per day," said the former prisoner.

The World Trade Organization (WTO) will make a decision of great importance to Airbus and Boeing on Wednesday afternoon (16:30). After six years of litigation between the two aerospace giants, the WTO will tell whether or not she believes that Airbus has benefited from illegal subsidies that would have allowed, according to Boeing, to take away its position as number one world.

The sums involved are enormous. If the WTO ruled in the U.S., Airbus might have to pay several billion euros. Nothing on the folder 380, the bill could reach one billion. And the A 350 loans that were granted to Airbus amounted to four billion.

Meanwhile, the European Union has filed suit against the United States, also accused of aiding illegal Boeing. In March, a panel of judges has accused the U.S. of having received five billion dollars in aid from the United States.Both parties filed an appeal.

As the complaint against the European aircraft manufacturer is at a more advanced stage than its U.S. rival for the European Union fears that Airbus is forced to stop receiving public assistance before those of the U.S. Boeing are suspended.

Airbus, a subsidiary of EADS, announced Wednesday its intention to increase the production rate of its single-aisle A320 aircraft from 36 to 42 products per month from the fourth quarter of 2012 to meet strong demand for this type of devices.

The monthly rate will steadily increase to 38 aircraft in August 2011 to 40 copies in the first quarter of 2012, said the aircraft manufacturer, claiming a backlog of more than 2,300 A320 aircraft still to be delivered.

Airbus delivered 510 aircraft in total by 2010, including 401 A320 family, and had already delivered 132 single-aisle end of April, which puts him "on track to surpass in 2011 the number of deliveries last year. "

In Greece, the IMF Dominique Strauss-Kahn was among the first to sound the alarm. Without openly contradict the assurance of Europeans, as many economists doubted the success of the rescue plan launched a year ago: Too many deadlines, not enough growth.

Monday in Brussels, twelve months after betting that Greece would be in 2012 on the markets to finance its deficits, the countries of the euro went to the inevitable: the appointment is missed, the Papandreou government will need aid of fifty billion by 2013 in addition to 110 billion made a year ago, and the question is, nagging about the ability of Athens to one day repay her debts.

What the German liberals of the FDP already denounced as a "bottomless pit" is primarily a political problem for Angela Merkel.Since the beginning of the crisis of sovereign debt, German politicians proved less willing than others to raise money for the taxpayer at any price stability in the euro area.

To divert a debate as to poison repetitive, Germany now proposes to extend the repayment schedule in Athens. In consideration of a new fiscal tightening, would be the way to relieve the cash Greece and reduce all credits claimed on the rest of the eurozone.

78 billion euros to save Portugal

Wolfgang Schäuble, the Minister of Finance since Sunday added a condition sine qua non: "All credits will be rescheduled as well, that is to say, both those made by private banks as those granted by the various bailout fund set up by the EU and the seventeen countries of the euro.

The scenario is dictated by the desire to Berlin not to suggest to voters that he pays only instead of banks. He received on Monday, supported by Austria and Luxembourg. But it gives a cold sweat in the financial community and the European Central Bank (ECB). For many it is the first step towards a "restructuring" of Greek loans: in other words, debt forgiveness as an extension of time, lower interest rates, reduced principal or a cocktail of three .France and its banks heavily engaged in Athens, are against "all forms", repeats Christine Lagarde.

Shortly before the Eurogroup meeting on Monday night, the Barroso Commission has begun to cut corners. A restructuring would present "devastating consequences" for public and private creditors and Greece would be better advised to look for new resources in the accelerated implementation of its privatization plan. But "arrangements are always possible," said spokesman Amadeu Alfataj.Divided on the Greek case, the Europeans are, however, were more divided over the issue Portuguese EU finance ministers gave the go-ahead for a bailout plan for Portugal, which provides 78 billion euros in loans to joint the IMF in exchange for austerity.

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The year was difficult for Alstom. During his year lagged 2010-2011, the specialist energy infrastructure and transport recorded a drop in its net profit by 62% to 462 million euros for the year ended March 2011 against 1.22 billion euros a year earlier. Although less than 519 million euros expected by consensus.

Operating profit down 12% to 1.57 billion while revenue rose 6% to 20.923 billion euros. Analysts had expected operating profit slightly lower 1 cash advance america.488 billion and a turnover higher at 21.197 billion. The operating margin reached 7.5% in 2010-2011, against 9.1% in 2009-2010 and 7% expected by analysts.

In a statement, the group explains that performance-cons as "high charges related to restructuring plans for adjusting staffing in Thermal Power in Europe and North America and in some places of the Transport in Europe".

More information to follow ….

It is not just in France that soaring fuel worries. Whether in Beijing or Washington, the great powers anxiously watching the prices soar. United States, the phenomenon begins the popularity of President Obama. In China, leaders tried Saturday to end a protest by truckers of the Port of Shanghai. These last Friday blocked access to the terminal docks Baoshan.

After closed-door negotiations with the local road, the authorities announced on Saturday a "lower standard fees and the abolition of taxes outstanding." The decision was announced by making an effort to reduce "the pressure on carriers 'costs' and mitigate the effects" of rising inflation, is it explained in a statement. No mention of the strike.

Not sure the extent sufficient to satisfy the carriers.According to testimonies collected on the spot Saturday by news agency Reuters, the drivers intended to continue the movement until you see the concrete effects of tax cuts. "It's not that I strike, but what's the point of working if I lose money?" Said one trucker.

Beijing is trying to stifle any rebound media movement. No public statement had been made to this press Saturday and it was broadcast in English. It was only taken up by the official Xinhua News Agency, also in English. Chinese leaders fear that the waltz prices facing the country could trigger a vast movement of popular protest. Despite efforts to cool an overheating economy, inflation has been above expectations in March no fax payday loans. It reached 5.4% on a year to a growth rate of 9.7%, also higher goals of Beijing.

Obama disapproved

Across the Pacific, even dissatisfaction at the pump. In the U.S., the price of fuel has surpassed the symbolic $ 4 a gallon (unit equivalent to about 3.8 liters). The popularity of President Obama suffers. According to a survey New York Times / CBS released this weekend, 57% of Americans disapprove of the economic policy of the host of the White House. They are also 80% believed that the economic situation stagnates or deteriorates.

After a week to defend his choices for the federal budget, Barack Obama was forced to admit Saturday that rising fuel prices for Americans is "a burden when the situation is already difficult." But it does not mean advanced solution in the short term.Changes in gasoline prices more than justifies any investment in green energy, he was merely hammering during his weekly radio address this Saturday: "In the long term, the response. This is the solution to help people who are full and reduce our dependence on oil from abroad. "

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