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France wanted Wednesday continued effort to regulate rating agencies, whose intervention in Greece, Portugal and Ireland are strongly criticized by the European Union.

"France considers that the effort to regulate rating agencies, which started in 2008, must continue," said the spokesman for the French government.

Valérie Pécresse alluded to the degradation of the note of Portugal one of these agencies saying that we should not wear a "hasty decision" that could undermine the financial recovery plan Portuguese.

PPR announced Monday the launch of a capital increase reserved for Group Sowind after which it will become the majority shareholder of the company with 50.1% of the capital.

Sowind Group, one of the few independent Swiss watch manufacturers with a presence in 60 countries including the brands Girard-Perregaux and JeanRichard.

PPR, which already held 23% stake in the company did not specify the amount of the transaction.

"This allows the Luxury Goods division of PPR to strengthen the segment of the luxury watch while supporting the international development of Sowind Group," said the French group in a statement.

PPR CEO François-Henri Pinault, became president of Sowind Group alongside Mailander Monica Macaluso, vice president.

While Jean Claude Trichet has recently suggested the creation of such a position to better coordinate the activities of member countries of the EU, the French president said he was skeptical. Nicolas Sarkozy

French President Nicolas Sarkozy did not hide his skepticism Friday at the proposal of the President of the European Central Bank (ECB) Jean-Claude Trichet to appoint a "European finance ministers," saying that there was already "quite stakeholders. "

"The Minister of Finance to compete with the Commission? Because a Minister of Finance to manage a budget? For now it is the Commission which manages its budget. Unless we find that n ' There are not enough players yet? "Mr. Sarkozy said at a press conference closing the EU summit in Brussels. "What counts is an economic government, with a common economic policy, we build in that direction," he added."I think at the point where we are (…) the least can be reporting on all these subjects, the better. Acts, decisions, the cool, calm and a bit less creativity, "said Mr. Sarkozy. After leaving the press conference, the head of the French government responded to journalists who called out: "We have enough people who speak and who should not talk."

Mr Trichet has recently suggested the creation of a single "European finance ministers" to better coordinate the member countries of the European Union (EU). The European Commissioner for Financial Markets, Michel Barnier, has argued.The leader of the finance ministers of the euro area, Jean-Claude Juncker, also found that it was "a good idea", but warned that "it will not" because the European countries would not accept a European finance minister told what to do on the budget.

The issue of realignment taboo

Nicolas Sarkozy in Brussels on Friday renewed his hope that the Minister of Economy Christine Lagarde head the International Monetary Fund (IMF), but has steadfastly refused to discuss his replacement to the government. "I am delighted that the provision it made to members of the board of the IMF is well place," Sarkozy said at the press end of an EU summit. "You know the confidence I have in Lagarde and the importance I attach to it can be appointed to head the IMF.Leave it to this process, it is a matter of days (…) you know my expectations, "he added.

Asked about replacing Christine Lagarde to the government if it would succeed Dominique Strauss-Kahn to the IMF management, the Head of State indicated that it "can not say" if it will attend the next meeting Finance Ministers of the euro area on July 3.

Sarkozy has also refused to discuss the timing and extent of the redesign should follow the departure of Ms. Lagarde. "If it is (called), I would have the opportunity to meet," he said.

The names of the current ministers of the Budget, Baroin, and Higher Education, Valérie Pécresse, are the most frequently mentioned in the ministerial offices to succeed Christine Lagarde.

Nicolas Sarkozy could benefit from this remodeling of the government of François Fillon in order to bring one or two centrist camp to gather a majority in ten months of the presidential election.

Airbus and its parent EADS were optimistic Tuesday about obtaining strong orders at Paris Air Show in June, amid renewed aviation sector.

The first global manufacturer to Boeing, which expects to 520-530 deliveries in 2011 and a number of gross orders above this range, recently decided to increase the production rate of its single-aisle A320s, its best-selling airplane .

"This should be a good show.The market is very active, "he told reporters Louis Welsh, CEO of EADS, when asked about the prospects of orders at the Paris Air Show.

Tom Enders, Airbus executive chairman, said of his side as the group expected a few more orders at Farnborough Air Show at Le Bourget (Great Britain) in July 2010.

John Leahy, Airbus commercial director, told Reuters that the manufacturer was on track to exceed the threshold of the 500 order commitments of A320Neo, the new version of remotorisée medium-haul by the Salon du Bourget to be held from June 20 to 26

Louis Welsh also held that the airline industry had learned from the cloud of ash from a volcano in Iceland who had paralyzed the European skies in 2010, after the entry into eruption of another volcano Iceland last Saturday.

Wage employment in the private sector rose 0.4% in the first quarter, or 58,800 positions. And despite a slowdown in the interim. In the first quarter of 2011, the employment of non-agricultural market continues to grow (+58 800 jobs, or 0.4%) in France.

Wage employment in the market sector grew significantly in France in the first quarter of 2011 compared to the previous quarter by 0.4% or 58,800 net new jobs created, according to preliminary data published by INSEE Friday 13 mai.Au last quarter of 2010, 37,600 net jobs have been created dja.

After a sharp slowdown in the pace of job losses in the previous quarter, employment in the industry is stabilizing in the first quarter 2011 (600 posts). In construction, employment grew slightly by 0.1% with 1,400 jobs created.The employment increase is primarily due to the tertiary sector which has created 56,800 net jobs in the first quarter (+0.5%).

The number of temporary workers is increasing in the first quarter of 2011 but on a slower pace compared to fourth quarter 2010 (+13 500 or +2.3%, against 22 500, or 3.9% the previous quarter) . Over the full year 2010, France had created 124,600 payroll jobs in the private sector, mainly through the interim.

S & P lowered the rating outlook on the U.S.. This could mean the end of the AAA within six months to one year. But the consequences would be largely symbolic, according to Norbert Gaillard, an economist and consultant to the World Bank. Decryption. The President of the United States, Barack Obama, during a visit to Ohio, January 22, 2010.

The lowering of perspective on the American note is it deserved?

Yes, and S & P might even have done it sooner. The problem with U.S. fiscal crisis is the total lack of political visibility. The utilities were on the verge of locking ten days ago for lack of budget agreement for fiscal 2011. And it's not over: it is necessary that Republicans and Democrats agree within a month on raising the debt ceiling. In short, we do not know where it goes. In this regard, the contrast with Britain is striking.S & P had downgraded the outlook for the UK there are nearly two years. A year and a half later, the rating was lifted to "stable", while the situation remains worrying. Why? Because David Cameron has sent a strong signal to markets about its willingness to reduce the deficit and cut spending with a drastic austerity plan. American politics is much more lax since the 60s. Americans see that as a world power with the main international currency, they can afford less of orthodoxy ….

Is it likely that the note down?

When the outlook is negative, there are two possible outcomes: either the note is degraded, a grade is confirmed and the prospect becomes stable. It is observed that generally, once the prospect lowered to "negative", it takes on average 6 months to note is degraded.Once past that period, it is likely that the rating is confirmed, six months or a year later. This means that everything is played in the first six months, although in practice, one can imagine that for a country to the status as special as the United States, S & P to wait a year before deciding to lower the rating. It is likely that the note is then degraded as Democrats and Republicans seem unable to reach an agreement on medium-term real measures to reduce the deficit. Especially as we will soon enter the pre-election period. Obama can not accept significant cuts in social programs without alienating his core constituency.

What would be the consequence of a deterioration in the U.S.?

In reality, there would not really affect the ability of Americans to finance.The U.S. has other resources, whether monetary policy, or their links with the business. This was essentially an enormous symbol. The rating of the United States has always been the benchmark, the ideal of credibility in the world!

The other triple-A they are threatened too?

Other states with triple A that are threatened are those that have not yet made the reform of the welfare state, namely Austria, which also has problems with its banking sector and France. As the United States, the timing in France is not in favor of true austerity measures since also comes in a pre-election period. Sweden, Finland and Canada have made their reform in the early 90's, Germany has done in early 2000 under Schröder and now the United Kingdom takes care of his own.

European values ​​have come up in an atmosphere of caution due to the prospect of a tightening of Chinese monetary policy and disappointing results from Bank of America.

However, they accuse their first weekly decline in a month.

In Paris the CAC 40 closed up 0.10% or 4.09 points to 3974.48 points.For the week, the Paris index lost 2.15%.

Other major European markets also finished higher: London and Frankfurt gained 0.54% 0.44%, while the pan-European Eurofirst 300 index was up 0.26%.

The decision of Moody's sovereign rating to lower Ireland's two notches also weighed on European markets.

The threat of a debt restructuring Greek accentuated the trend, unless the plans announced by Athens only allow the curb.

The banking sector performed the worst performance, yielding 0.65%. BNP Paribas and Deutsche Bank have respectively lost 1.03% and 1.25%.

On the contrary, the values ​​of the food recorded the highest gain of 1.43%. Nestle, which has published a turnover above the consensus, gained 2.35%.

Entered a period of strong austerity, called "special period" in the fall of the Soviet Union, Cuba opened its 6th Congress of the Communist Party on April 16. The liberalization of the economy is on the agenda. Raul Castro, Cuban president, presents its 2011 economic reforms in the National Assembly in Havana, December 18, 2010.

Faced with the crisis that Cuba has never emerged, the 6th Congress of the Communist Party of Cuba (PCC), which opens Saturday, announces reforms colossal sites. This first party congress in 14 years is the implementation of reforms announced by Raul Castro in 2010. Between the case of small private companies, scouring the public sector, the autonomy of state enterprises and opening to foreign capital, Cuba seems ready to do anything to finally get out of the "special period" in which she was thrown headfirst to the fall of the USSR.

Degrease the public sector and revive the private sector

Degrease the public sector to reap taxes and reduce government spending, whose coffers are empty, it is the main objective of the 6th Congress of the CCP. While about 84% of Cuban officials, the conference announced the withdrawal or redeployment to other sectors, more than a million public sector jobs-about 20% of the workforce. A first degreasing 500,000 positions should be completed before the end of March but was delayed by President Raul Castro. The plan degreasing public office take "at least five years," he said to allay public concern.

For the first time since 1968, Cubans will also be able to become their own bosses.If it was previously forbidden to work on his own account, in October 2010, new rules were self initiated. The list of the 124 authorized for job cuenta propria (his account), will expand, at the end of the congress, to 178. Coming also simplified standards and more flexible for Cubans who favor the private sector.

Another measure to be debated at the conference, encouraging the creation of urban cooperatives, embryo tissue of small and medium-sized independent businesses, and extending the rules of autonomy of state enterprises. For the professional initiative, is scheduled implementation of bank credit for self-employed and farmers, with a view to invest in their tool.

On private property, so far only for the Cubans had the right to private property such paladares-kind restaurants and family-casas particulares, private homes-, relaxations are expected on both the purchase, sale, lease the exchange of private property.

Cuba boosts its economy and opening to the outside

A flagship project of the congress, decentralization of production and marketing of food with the extension of the distribution in usufruct of land fallow, which constitute 40% of farmland. Tax laws also will be finally applied for the payment of taxes, including income, but which are exempted most Cubans. The libreta, the ration book in force since 1963, a pillar of the Cuban domestic economic policy, will gradually disappear.This ensures libreta for almost 50 years to a population with a lot of commodities at subsidized prices.

Concerning the opening to foreign countries, measures to attract foreign investment, must be adopted, but for now no one knows the exact contents. Finally, Congress should consider the gradual disappearance of the double currency undermines the daily lives of Cubans, torn between the peso "national" is used to pay salaries and buy the commodity and the peso "convertible" (equal 25 pesos national), aligned to the dollar, which pays for all imported goods and most services. The low purchasing power (average monthly wage of 15 euros) is the biggest drag on consumption.

The Cuban people are reluctant or open to change?

Consider how that real changes are emerging in the Cuban economic model, eternal glass palace of communism and populism, 90 miles of the United States, one of the greatest power of the capitalist world?

For some Cubans, the trend is cause for optimism. "Raul Castro has opened the way, now we must refine it, and that's the job of Congress" told AFP Jose Ronda, 60, owned two small businesses. Gilberto Dupeiron wishes only thing that Congress finally take on "intelligent decisions", and make sure that increasing salaries is possible and that the unemployment issue is resolved, as if according to official figures, unemployment was less than 1.8% in 2008, economists Cuban dissidents have calculated at 25%, according to Western standards, can be read in an article in Liberation.For many, accustomed to the paternalistic state, the government will "do something". After all, the authorities said, "nobody will remain unemployed." Cuban officials will they know this time to find ways to solve the economic problems of their country and finally leave the "special period"?

Nasdaq OMX and IntercontinentalExchange will continue to put pressure on NYSE Euronext's management so that its members accept their bid, said Tuesday CEO Jeffrey Sprecher, ICE.

"We believe that this offer has advantages, so we will continue the process," he told reporters in Rio de Janeiro where he was attending a conference.

He said the bid by Nasdaq and ICE has received "excellent feedback" on the part of shareholders of NYSE.

The social climate is deteriorating at the National Assembly. The reason: the members who are beginning to prepare the ground for re-election next legislative strengthening their teams riding by slashing their workforces in Paris.

While the race is cantonal just completed one of the laws, which follow the presidential election in spring 2012, has already begun. A hint: the social climate has deteriorated markedly in the aisles of the National Assembly. "As before each parliamentary election, relations between members and some of their employees are deteriorating. Since the beginning of the year, a twenty cases of dismissal arrived on my desk, "says Jean Francois Breaking the Secretary General of the Union of parliamentary assistants.

The story is always the same.To prepare for their reelection, parliamentarians are in working order their teams did not hesitate to jettison some Parisian associates to strengthen their squads riding. Because the members themselves manage their workforce, as real owners of small SMEs.

The Assembly shall pay to each member because some 9138 euros per month to pay up to 5 people. Contributions are, themselves, supported by the National Assembly. Parliamentarians to set wages, nature of employment contracts and missions to accomplish. Almost everything is permitted … The credit is used to pay employee both a driver, a secretary or a head well done to assist the member in his legislative work."In pre-election period, some lawmakers prefer to slow their legislative activity to Paris to concentrate on their riding and their re-election," said a legislative assistant. "The campaign is actually launched and I am afraid that the list said Stavros Dimas, right and left," said Jean Francois Brittle. Evidence that cronyism has no political color.