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This visit was highly anticipated. A month after announcing he was suffering from prostate cancer, multibillionaire Warren Buffett met this weekend's 40,000 shareholders of his holding company Berkshire Hathaway in Omaha, in the U.S. state of Nebraska, where he lives since 1956. Saying "in shape", he has worked hard to reassure his health. The investor of 81 years and has participated in a competition to launch newspapers in the corridors of CenturyLink Center, before pushing the song with the cheerleaders from the University of Nebraska and an ice cream with gusto low interest rate personal loans. "I have four doctors, several of which are shareholders of Berkshire Hathaway," he has said, in response to a question at the general assembly, whose key exchanges are transcribed on the site of CNBC. He reiterated that his treatment, which induce "not a single day of hospitalization," would not prevent him from working.

The investor of 81 years aparticipé a contest to launch newspapers in the corridors of CenturyLink Center.

Complicated faxing techniques were always a source of worry as most loan types need an identity proof. But now with the advent of bad credit loans with no faxing, you can apply for payday loans online without much hassle on your part.

 

Christine Lagarde is more than ever determined to "increase the firepower of the International Monetary Fund", that its financial resources. But if the euro area "is the epicenter of the potential risks" of the global economy, "Europe is not the only one? We are not obsessed with a region "said Thursday in Washington, executive director of the IMF during a press conference that opened two days of spring meetings of IMF and World Bank.

Capacity building support from the Fund will be the highlight of the discussions to be attended especially the G20 finance ministers. Christine Lagarde has renewed its appreciation to Japan, "the first country that has decided to commit themselves" to the tune of 60 billion euros, while acknowledging "the Scandinavian countries who responded to the call and Singapore."

The Japanese contribution is the first quantified commitment to a non-European. This is in addition to those States of the euro area itself, which from the outset, have said they would put 150 billion euros in the pot (just under $ 200 billion). But Christine Lagarde, who had advanced earlier this year the figure of 500 billion, reduced its ambitions "to just over $ 400 billion" figure it has itself argued in an interview Tuesday Italian newspaper Il Sole 24 Ore.

Bilateral borrowing agreements

The negotiations will be very difficult and should not be concluded this week with the aim of reaching agreement at the annual meetings of October 2012 in Tokyo. On behalf of the United States, Tim Geithner, Treasury Secretary, said two days ago that his country "would not put money" but would support those participating in the operation. Recall that this strengthening of resources take the form of bilateral loan agreements with its 188 member countries (including the last admitted this week is Southern Sudan). It is not a capital increase of the IMF, as such. Now this is where the rub the side of the emerging countries, including China and Brazil, who would like to link this extension means the Fund to an expansion of their representation. Now it is even less question that the last reform of 2010 increasing quotas and powers to the board in favor of emerging countries mainly, has still not been ratified by the necessary majority. Within the G20, Argentina, Canada, Germany, Indonesia, Mexico and the United States, have not yet ratified, do we reported to the IMF.

Christine Lagarde must also combat the widely held in international public opinion that the firewall is only designed to help Europe, Spain and Italy, among others. She also found that Spain does not need assistance plan "for now".

Executive Director of the IMF insisted on Thursday the new initiatives launched recently, as "the trust fund for the poorest countries", mentioning also "the five countries of the Arab Spring, for which we need more resources." But the difficulty is to find a common agreement with the governments, especially with Egypt, for which the loan of $ 3.2 billion from the IMF, which should be a catalyst for international aid, is still pending .

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SMEs have suffered worst of the credit squeeze between 2007 and 2010 than larger firms, experts say that the OECD published the first report on "Financing SMEs and Entrepreneurs" by sifting through data from 18 countries ranging from Canada to Sweden via South Korea, France, Hungary, Finland, the United States.

SMEs have been hard hit by the crisis in 2008 and 2009. Confidence indicators of SMEs in OECD countries have fallen to levels lower than those of the 1990s. Direct consequence of falling demand from mid-2008, SMEs were down to their turnover. Companies that export have suffered more than those living in their home market only because of the decline in global trade.

Risk clients unattractive

SMEs have also been handicapped by the lengthening of payment periods which continued in 2010, despite a slight improvement in the economic situation. They have experienced cash flow difficulties. Their financial situation has deteriorated. Faced with this deal, their banks have lent less in most countries in 2008 and 2009. In 2010, financial institutions continued to reduce their lending in Finland, New Zealand, Portugal, Slovenia, the United Kingdom and the United States.

In the euro area, the rejection rate of applications for credit from 12% in first half 2009 to 18% in the second half of that year. A country is an exception: France, where the percentage of refusals decreased from 12% to 7% through the introduction of credit mediation and government decisions. The public financial institution specialized in SMEs OSEO has provided 12 billion euros of loans guaranteed in 2009. According Oséo, 50% of companies having benefited from the exceptional warranty cash claim to have avoided bankruptcy. In 2010, the refusal rate financing amounted to 11% in the euro area.

Considered unattractive risk clients, SMEs were asked to provide more guarantees for credit. They paid more bank financing than large groups, despite lower interest rates. According to figures released Wednesday by the Bank of France, the cost of short-term credit to businesses rose from 2.49% to 2.42% between October 2011 and January 2012. But the cost of borrowing in the medium and long term for companies rose 4.06% to 4.21%.

The policy of the banks says that the share of SME loans, which varies according to country, between 12% and 30% of total loans to businesses, has fallen when it is already well below their weight economy and their role in job creation in normal times. Not surprisingly, the number of SMEs in difficulty increased. In 2009, bankruptcies increased in the studied countries except Canada, South Korea and Portugal. They were up in 2010 in Denmark, Hungary, Italy, Slovakia and Switzerland. Although they have declined in France, Finland, the Netherlands, Sweden and the UK, they remained at a level much higher than in 2007.

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Three weeks after the government's announcement to freeze gas prices for individuals on or after October 1, GDF Suez took, as the company announced at the time, the competent courts in protest against the decision. The group on Thursday filed an action for the Council of State to request the cancellation of an order made by the government.

The investigation of this type of case takes on average between 12 and 18 months. But the length of the procedure does not scare GDF Suez, which the argument is simple: the law requires that the procurement costs of the company are covered by fees, and grant a small margin. Upon arrival, if the formula price was applied on October 1, gas prices for individuals would have had to climb 10%.GDF Suez's estimated shortfall by the end of the year to some 290 million euros cash advance no fax.

For its part, the Commission for Energy Regulation (CRE), the industry policeman, issued an opinion unfavorable to the Government Order. Meanwhile, the regulator gave the Minister of Industry, a report on the Exploring the evolution rate of increase gas prices. One of the measures mentioned by the CRE is to increase – in the development of the formula – the share of the market price of gas now cheaper for the consumer and supply contracts in the long run.

This design technique should allow to reconcile the evolution of gas prices with the political imperative to avoid any increase, especially brutal.

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Second straight session of significant decline in Asian stock markets. After diving the day before amid concerns about global growth, the main regional indices appear again in sharp decline: the Hang Seng Index of Hong Kong Stock Exchange falling 1.68% to 17,610.70 points, The CSI 300 Index of Shanghai from 1.17% to 2654.35 points, the Kospi index in Seoul 4.04% to 1727.72 points, the S & P / ASX 200 index in Sydney from 0.51% to 3944.50 points, the BSE Sensex 30 Index of Bombay from 0.88% to 16,217.80 points and the FTSE Singapore Straits Times Index 1.27% to 2686.11 points. Only the Nikkei in Tokyo Stock Exchange closed for the holiday, escape the downward spiral.

As in the previous session, and in the wake of Wall Street with the Dow Jones tumbled 3% Tuesday, investors are still concerned about the specter of a global recession.And, after the ads for the less pessimistic the U.S. Federal Reserve (Fed), which held that the U.S. economic recovery was "slow" and threatened by "high risk". She decided to restart the machine, sell by the end of June 2012 for $ 400 billion of treasury bills and to purchase for the same amount with a longer maturity. But the fact that it favors measures to monetary easing, a depressed market, which sees it as a sign of impotence.

The G20 is mobilized

In addition, doubts about the economic situation in China also weigh in the balance. Manufacturing activity in the country has deteriorated in September, reaching its lowest level in two months, according to preliminary PMI bank HSBC said on Thursday.PMI Purchasing Managers calculated by HSBC in September reached 49.4 against 49.9 in August, knowing that a figure below 50 means contraction.

However, in an attempt to break the deadlock, the first twenty economies in the world rally: they have promised to respond "strong and coordinated international" to the crisis. Central banks are particularly committed to providing "the necessary liquidity" to financial institutions.

On the foreign exchange market, the euro appears in small increase compared to the U.S. dollar: it rose on Friday morning from 0.42% to 1.351 dollar. Oil prices also went up in Asia as investors sensing bargains after the significant losses suffered by the crude in recent days.Within the scope of a tumble of more than $ 5 Thursday, a barrel of "light sweet crude" for delivery in November clinching 53 cents in early electronic trading at 81.04 dollars, a barrel of Brent North Sea crude for November delivery gained 71 cents to 106.20 dollars. "Oil rises due to bargain hunting and redemptions of coverage after several sessions of decline," said Ker Chung Yang, analyst at commodity Phillip Futures in Singapore.

Eurobonds are too expensive. It is seeking to demonstrate that the calculations of the German Ministry of Finance, taken by the weekly Der Spiegel on Sunday. This mechanism, which is to pool the debts of 17 countries in the euro area, regardless of their health, the first year would cost 2.5 billion euros of interest in addition to the budget of the German finance minister. This cost would be twice as high the second year to a total of 20 to 25 billion at the end of ten years.

On this basis, German Chancellor Angela Merkel has once again firmly rejected the introduction of this system, although many market professionals believe that this is the solution to the crisis of European sovereign debt. "The Eurobonds are quite the wrong response to the crisis of the moment.They would lead us to a union of debt and not a union of stability, "she says in an interview with ZDF.

His comments echo those made by the Minister of Economy Philip Rösler the newspaper Bild am Sonntag: "The Euro-bonds are a bad signal sent to national economies failed. Cover the risks of other countries with Eurobonds would immediately drive up interest rates in Germany. This would have dramatic effects on growth in our country, "said he.

Strengthening governance

Despite all these outputs, the German government did not draw a line under this system payday loans in 1 hour. The finance minister, Wolfgang Schäuble, has again said that the countries of the euro area could issue Eurobonds if échafaudent prior fiscal policy and fiscal policy.But this move towards integration is not fast enough, he said. "Most Member States are not quite ready to accept the necessary limitations on national sovereignty. But believe me, it's a problem we can solve, "said the Minister in an interview with Welt am Sonntag.

Wishing to lead by example, Wolfgang Schäuble has said for his part personally prepared to transfer sovereignty to Brussels. "As a person, I would be ready. The idea of ​​a European finance minister I have no problem.But as finance minister I say that it is our duty to solve problems here and now, and that as soon as possible based on existing contracts. "

Wolfgang Schäuble will meet his French counterpart Francois Baroin Tuesday to discuss the harmonization of corporate tax and the introduction of a tax on financial transactions. France is the country with Germany most strongly opposed to the Eurobonds.

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"SPECIAL REPORT: debt crisis

After his sister Moody's, the rating agency Standard & Poor's sanctions Greece. It announced on Wednesday the downgrade of the country to "CC" with a negative outlook. Athens is found in two notches of default. The aid plan presented last Thursday by the European leaders will put Greece in a de facto situation of "selective default", argues the agency.

The plan, which provides a 20% loss to investors holding voluntary debt Greek, "is not investor friendly," said Standard & Poor's (S & P). "Although no date was given for the launch of this plan, we understand that it will not take place until September at the earliest. When it announced a deterioration in the notes to the rank of "selective default" (SD) should occur, "warns S & P.

In addition, Standard & Poor's believes that if the European Financial Stability Fund (EFSF) acquires large-scale debt securities on the market at prices planed, the country will also be in default selective. Note of Greece will be raised when the buybacks and debt restructuring will be completed.

But S & P remains cautious. After this first failure, the risk that the country face new fault "remains high". The head of the country rating agency launched statements in that Tuesday morning. "We plan to grant Greece a low rating in the speculative grade", that is to say high risk, he warns. The debt would still represent more than 130% of GDP at the end of 2011 and growth prospects, S & P notes, remain uncertain.

The President of the European Central Bank took the defense of Greece, shortly before the announcement of S & P. Speculate on a failure of Greece, he said, "would be the surest way to lose money after the decision last Thursday," giving new aid to the country.

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Follow the mixed trend on Wall Street the day before or the optimism of Asian markets? The Paris Bourse has made his choice on Tuesday. The Cac 40 ended up substantially from 1.42% to 3861.74 points. Same atmosphere in the other major European markets. At the close, the DAX index of the Frankfurt Stock Exchange ahead of 1.69% to 7204.79 points while the FTSE-100 index of London Stock Exchange gained 0.51% to 5803.13 points.

Yesterday, U.S. markets, which started in the green, finally ended on a stable tone, troubled by a further deterioration of three notches of the rating agency in Greece by S & P.Conversely, the Asian stock rose in unison this morning, buoyed by the announcement of the Bank of Japan maintained its key interest rate near zero to support the growth of the archipelago.

Markets, however note the acceleration of inflation in China to 5.5% yoy in May, more than expected by analysts. This rate, the highest in almost three years, should still push the country's authorities to tighten the monetary and thus assist in the deceleration of economic activity in China.The monetary tightening measures taken by Beijing to curb inflation have led to a decline in new lending by Chinese banks in May and a monetary growth slowed to a low of 30 months.

Still on macroeconomic, the current account deficit in France widened somewhat in April, to 4.8 billion euros, against 4.1 in March, due to the increase in the balance of trade in goods, according to figures released Tuesday by the Banque de France (BDF). The day was also charged in the U.S.. Retail sales fell 0.2% in May to the U.S. for the first time since June 2010. The increase in producer prices has also slowed, but less than expected, with the slowdown in energy costs, according to figures released by the Labor Department.Finally, the restocking of manufacturing firms and corporations slowed in April, according to figures released by the Commerce Department.

As for currencies, the euro continues to rise against the greenback at 1.4474 dollars around 17.30. For its part, the oil has been affected by the downgrade of the long-term debt of Greece and the publication of inflation figures in China. In morning trading, a barrel of light sweet crude for July delivery lost 24 cents to 97.06 dollars before rebounding to 0.84% ​​hardly rose to 98.12 dollars.

The banking sector insensitive to the degradation of note Greek

Banks are sensitive to the Greek news, do not react negatively to the further deterioration of the country's debt that one step closer to the fault."If a solution can be found that avoids the risk of default, it seems appropriate," said the Governor of the Banque de France Christian Noyer at a press conference free business cards. If you do not find it, if you touch still in debt and that you cause a default or a credit event, you must be prepared to fully finance the Greek economy, "he warned, addressing the Euro zone countries.

BNP Paribas (2.33% to 52.61 euros), Societe Generale (+2% to 39.79 euros), Natixis (1.99% to 3.535 euros), Axa (+2.75% at 15, 14 euros) and Credit Agricole (1.45% to 10.155 euros) move anyway.

Areva: -2.68% to 24.355 euros

After Germany announced last May its output of nuclear power by 2022, Italy on Tuesday dismissed the relaunch of its program.The title, which displays the largest decrease of the SBF 120, thus suffers the growing distrust of the Europeans vis-à-vis nuclear power.

Axway Software: + 26.76% to 23.59 euros Sopra: -5.12% to 61.55 euros

This Tuesday was the first day of trading of the company, the shareholders of Sopra giving the green light last Wednesday, the proposed demerger and listing of the software division of group counseling and services.

Capgemini: + 3.07% to 38.57 euros (largest increase in the ACC)

The group announced on Tuesday that in "exclusive negotiations" to acquire the operator Prosody.

Neopost: + 2.44% to 59.67 euros

The group said growth in its expected sales of between 3 and 5% excluding currency effects in 2011, instead of the range of 2 to 4% previously expected.The manufacturer of franking machines for mail said it has completed the acquisition of GBC-Fordigraph.

Suez Environment: -0.14% to 14.075 euros (largest decline of ACC)

The group, through its subsidiary Degremont, has won a contract for the extension of the treatment plant and wastewater recycling in Qatar Doha West, for a total of 35 million euros, "he said Tuesday in a statement.

Air France-KLM: + 0.42% to 10.635 euros

Secretary of State for International Trade Pierre Lellouche said Tuesday he convened the AFP Chief of Air France-KLM Pierre-Henri Gourgeon to seek clarification on his next order of hundreds of long- haul Airbus or Boeing.

L'Oreal: + 1.62% to 86.09 euros

Liliane Bettencourt should be placed under curatorship enhanced seen his health, according to doctors appointed by a judge of guardianships that have not examined directly, however, announced Tuesday a source familiar with the matter, confirming information site lemonde.fr .

"QUIZ Estimate the Cac 40 in late June

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.

Despite the good performance on Wall Street Friday, the CAC 40, after having opened down slightly, fell sharply now. At mid-session, the Paris index coward 3932.42 points to 1.06%.

At the London Stock Exchange, the FTSE-100 lost 0.73% to 5952.23 points, about the German Dax 30, it declined from 0.88% to 7115.04 points.

For their part, Asian stock markets evolve without much direction. The Nikkei remains stable and the Chinese financial markets are showing tentative gains.

In the absence of macroeconomic indicators on Monday in France and the United States, the news companies will punctuate the financial markets.

The Minister of Economy and Finance, Christine Lagarde, said Monday morning on LCI that restructure debts European (Greek, Irish and Portuguese) would be "catastrophic."The financial sector shows the largest decreases the Cac 40: 2.98% Credit Agricole cowardly to 10.92 euros, Axa dropped 2.64% to 14.91 euros, Societe Generale yield 2.96% to 43.88 euros, BNP Paribas was down 2.11% to 51 euros and Natixis down 2.30% to 3.87 euros.

Veolia: -2.11% to 21.58 euros

The socialist president of the Urban Community of Montbéliard, Pierre Moscovici, has decided to break the contract between Veolia region until 2022.Prices – between 3 and 3.40 euros per cubic meter – is considered too high.

Total: -1.50% to 41.05 euros

The Secretary General of the Organization of Petroleum exporting countries (OPEC) Abdullah El Badri said that OPEC countries were "concerned" about the high prices, adding that markets were adequately supplied.

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EDF: -1.68% to 26.68 euros

In an interview with Le Figaro Economie, CEO of EDF, Henri Proglio, assured that the electrical power "are in excellent condition." It states that EDF will have to invest 8 billion euros in 2011 in France alone.An amount "considerable," said he.

France Telecom: -0.51% to 15.56 euros

France Telecom and Deutsche Telekom will share parts of their mobile networks in Poland, Austria and Romania, anticipating savings of 650 million euros by 2015, according to sources familiar with the matter.

Vivendi: -0.71% to 20.14 euros

Vivendi incur a syndicated loan of three billion euros to finance the acquisition of 44% stake in SFR, Vodafone, said Friday banking sources.

Publicis: +0 payday loans no teletrack.11% to EUR 38

Publicis announced the sale of its majority stake in the British agency Freud Communications PR she has held since 2005.The group did not specify the amount of the transaction.

Air France-KLM: -0.95% to 11.45 euros

Pierre-Henri Gourgeon could be renewed this summer at the head of Air France-KLM, but perhaps only for half a term of two years to allow the emergence of a successor, according to Liberation.

Ipsen: -0.13% to EUR 26

The pharmaceutical company Ipsen will pay up to 200 million euros to Swedish Active Biotech under a partnership set up to co-develop and market a new drug for treating prostate cancer, they announced Monday.

Aeroports de Paris: -0.24% to 62.17 euros

Aeroports de Paris has reported an 0.8% increase in traffic at airports of Charles de Gaulle and Orly, an increase of 3.9% in the first quarter.

Transgene: +2.49% to 12.75 euros

Transgene announced Monday the signing of a partnership with ChronTech Pharma AB and Inovio Pharmaceuticals to clinically assess a new strategy for therapeutic vaccination against hepatitis C.

Argan: -0.29% to 13.73 euros

Argan has announced that its capital increase with preferential subscription rights (DPS) had been subscribed to the tune of 182.51%, thus allowing the real estate company specializing in logistics real estate to raise 35 million euros .

Eurotunnel: -0.01% to 7.20 euros

The operator of the Channel Tunnel has increased by 24% of its turnover in the first quarter to 179.2 million euros, according to a statement released Monday.

Quarterly publications to follow

Some quarterly sales are also scheduled on Monday., Guyenne et Gascogne (turnover in the first quarter) and Manutan International (turnover of the second quarter), and Edenred, Audika (turnover in the first quarter), Soitec (turnover in the fourth quarter) after market. Le Noble Age Theolia and publish them on their fourth quarter results.

On the currency markets, the euro fell slightly against the dollar at 1.4372 dollar.

Oil prices were trending lower Monday in electronic trading in Asia on profit taking after last week's gains, dealers said. In morning trading, a barrel of light sweet crude for May delivery yielded 70 cents to 108.96 dollars. That of Brent North Sea crude for June delivery retreated 42 cents to $ 123.03.