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According to the Uruguayan Minister, Louis Almagro, Nicolas Sarkozy was very upset to see that its proposed regulation, including tax havens, were not retained. Nicolas Sarkozy.

Luis Almagro, Uruguayan Minister of Foreign Affairs, said French President Nicolas Sarkozy was "very upset" with "the failure of the French strategy at the G20" and that he expressed in his statements on tax havens cause of a crisis with Uruguay.

"I think his statement (was dictated by) the bitterness and is linked with the failure of the French strategy at the G20", held in Cannes (south-eastern France) in early November, said M . Almagro in an interview published Thursday in the weekly Busqueda. "The four or five worn by strengths (Nicolas) Sarkozy at the G20 were rejected, as (the idea) to cap prices or on financial issues, etc..He used the G20 as a political platform, but it emerged weakened because the final statement did not address its program. I think it was upset and he has expressed in this unfortunate statement, "he added.

In early November, Nicolas Sarkozy said after the G20 summit that tax havens would be put "beyond the pale of the international community." He said that was part of the capital Montevideo which "did not have a legal framework for the exchange of tax information." These statements have angered Montevideo. The French government then explained that it was a statement on behalf of G20 and not of France and expressed its confidence in the willingness of Uruguay to fight tax evasion.

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Coca-Cola, the world of soft drinks, will invest $ 2 billion (1.46 billion) in India by 2017 to develop its activities in this rapidly growing market.

This represents the total investment in India over the past 18 years by the U.S. company.

Coca-Cola India and its partners wish to invest in marketing and brand image, the extension of distribution networks and the development of production capacity, the company said in a statement.

Coca-Cola employs 25,000 people in India, whose growth is the second fastest in the developed economies, it added.

After having declined slightly in September, prices of consumer goods in supermarkets rose by 0.2% in October. Carrefour supermarket in Antibes.

Prices of consumer goods in supermarkets are starting to rebound in October, with an increase of 0.2% over one month, after stability in September, announced Thursday the National Institute of Statistics and Studies economic (INSEE). Over one year, prices rose 3.2%.

In hypermarkets, these prices rose 0.2% last month after falling 0.1% in September. In one year, rising prices in hypermarkets reached 3.4% compared with a decline of 0.7% a year earlier. In supermarkets, prices rose 0.2% in October, after stability in September. Over one year the increase was 3.3%, after falling 0.4% in October 2010.

Exxon Mobil reported Thursday a 41% jump in earnings in the third quarter, slightly more than expected by Wall Street, thanks to higher oil prices and improved refining margins.

Several major oil companies like Royal Dutch Shell and Norway's Statoil, have reported in recent days of strong quarterly results due to higher oil prices.

The futures contract on crude oil traded in New York has averaged $ 90 per barrel in the quarter, up 18% over the same period in 2010, while Brent crude oil jumped 48% .

An hour after the opening of Wall Street, Exxon earned the title 0.2% to 81.17 dollars, underperforming the S & P of the energy gained 2.34%.

Exxon is investing heavily in the exploitation of shale gas, particularly in North America.

The benefit of exploration activity and production of Exxon jumped 54%, the refining of 36%. The group said that better refining margins helped boost the profit of one billion dollars.

Burberry has released results for the second quarter of 2011 better than expected, supported by new store openings and strong demand in China.

The British luxury group said it had not yet seen any slowdown in demand despite uncertainty about the evolution of global growth.

The group, which manufactures waterproof and leather for a century and a half, announced Wednesday an increase of 29% of its turnover to 463 million pounds (529 million) for April-June

This performance is close to 30% in the first quarter and higher than the average forecast of 10 analysts polled by Reuters, to 448 million pounds (512 million).

Sales in stores, on a comparable basis, increased 16% in the second quarter, against 15% in the first, led by demand in New York, London, Hong Kong and Dubai.

Sales in China rose 30%, a development in line with the first quarter.

Burberry said it maintained its expansion plans, adding that he was ready to adjust if the signals of a slowdown in demand for luxury goods.

The Belgian, French and Luxembourg reaffirmed Sunday after a meeting held at midday in Brussels their solidarity in the search for a solution that ensures the future of Franco-Belgian bank Dexia .

In a joint statement, the Belgian Prime Minister Yves Leterme and French François Fillon stated that the three governments give their full support to the proposals of management of the banking group, presented at a Board of Directors scheduled to begin at 15:00 in Brussels.

"The proposed solution, which is also the result of intense consultations with all relevant partners, will be presented to the Board of Directors of Dexia which is responsible for approving proposals," added the two prime ministers.

"I am confident in our ability to reach an agreement with our French colleagues and Luxembourg and will be then the board of directors of Dexia to decide", for his part said Yves Leterme on Belgian television.

The activities of the Franco-Belgian bank, first bank in size in Europe to be a victim of the crisis of sovereign debt in the euro zone could be split and the most risky assets confined to a separate structure.

The Belgian, French and Luxembourg Sunday began discussions on the future of Dexia, in order to reach agreement on the terms and their participation in the new rescue plan for the former world leader in financing local authorities, supposed to lead on an orderly dismantling of the bank.

Brussels and Paris are trying to agree on the guarantees afforded by the two countries to the hive to accommodate the bond portfolio of 95 billion euros in Dexia, hoping not to aggravate the situation of public finances .

The rating agency Moody's has also increased pressure on the Belgian camp Friday night: it has placed the sovereign rating of Aa1 by explaining kingdom under surveillance will include assessing the costs and liabilities that the state could play in supporting Dexia.

VALUE TEST

Negotiations on the dismantling of Dexia, already saved from bankruptcy in 2008 after that of Lehman Brothers, will be a test for investors who want to see in the folder Dexia the ability of European leaders to overcome their differences to solve the banking crisis and the crisis of sovereign debt.

According to the most likely scenario, the dismantling of the Franco-Belgian bank should go through a nationalization of the Belgian branch, Dexia Bank Belgium (DBB), which specializes in bank deposits.

According to the Belgian daily L'Echo, the trail of a takeover of DBB by a foreign bank is considered and several institutions have expressed interest, including Deutsche Bank, Rabobank, Crédit Mutuel and BBVA.

Another key point of discussion: the distribution of the financial burden of dismantling between Belgium and France, whose participation combined with that of the Caisse des Depots (CDC) is around 25%.

Yves Leterme and Didier Reynders warned Thursday the French government that Belgium would not only rescue the financial burden.

In France, a dismantling of Dexia should result in a link-financing activities of local communities in a structure owned jointly by the Deposit and Postal Bank.

Friday, François Fillon has announced that the Deposit would release three billion euros to finance the French local authorities until a new entity formed by the Deposit and Consignment Office (CDC) and the Postal Bank to take the Dexia relay.

French President Nicolas Sarkozy, has to go on his side Sunday in Berlin for talks and a working dinner with Chancellor Angela Merkel before the summit of the euro area of ​​17 and 18 October and the G20 of Cannes and the three November 4.A bilateral meeting during which the larger issue of the recapitalization of banks in Europe should be addressed.

Pending the outcome of negotiations and decisions of the Board, the listing of the Dexia shares was suspended Thursday in Brussels. It will resume Monday morning.

Before the suspension, Dexia shares worth 0.85 euro.

The action EADS is among the largest declines in the CAC 40 index on Thursday morning at the Paris Stock Exchange, while concerns are emerging about a domino effect on aircraft manufacturers difficulties refinancing of French banks in dollars.

In a market that was down 3.93%, weighed down by the performance of particular financial and cyclical stocks, the parent company of Airbus shows a fall of 6.81% to 21.14 euros at 10:45.

"It lowers the title.This is the first strong example of the effects of the crisis of dollar liquidity for European banks on the real economy, "said David Thebault, head of quantitative trading at Global Equities.

"We must certainly take this into account (the difficulties of banks) in financing equipment for all aircraft manufacturers," judge his side an analyst based in London, in a note.

This risk is relative, however, under the control of German banks to lend and potentially U.S. institutions, said the analyst, who also refers to possible emergency measures on the part of the French state.

"There are ways to deal with it immediately: some will take the place of French banks – U.S. banks and Chinese – and there are other ways to finance an aircraft, especially to leasers (lessors ) and 'vendor financing' EADS ', also adds Christophe Menard, an analyst at Kepler.

These fears of financial difficulties echo the statements of some leaders of the aviation sector in the Istat, a conference on the financing of aircraft, held in Barcelona on Tuesday.

French banks, which accounted for about 31% in aircraft financing transactions in 2010, reduced their availability significantly, said on this occasion the chief financial officer of Ryanair, Howard Millar.

The five major central banks around the world, including the ECB, announced September 15 a coordinated commercial banks to offer loans in dollars in three months to prevent freezing of the money market which would be caused by the debt crisis sovereign in Europe.

European banks, particularly French, have seen their share price fall since the beginning of the summer on fears related to potential recapitalization needs and issues of liquidity in dollars, American money market funds and other traditional lenders Greek dollar fearing failure and potential devastating effects on the markets.

In this context, speculation saying that the French government could be forced to intervene to stop the bleeding is growing, especially as fears of a credit freeze remake regular surface due to the persistence of debt crisis in the euro area.

Politicians and bosses of banks took turns for several weeks to deny any need for new capital, but struggle to convince.

BNP Paribas, which has undertaken to strengthen its equity more quickly, said last week it would reduce the size of its balance sheet of about 10% by the end of 2012 and it would also reduce its needs funding dollar.

Societe Generale for its part intends to strengthen its capital of four billion euros by 2013, including asset sales and reducing their activity.

Wall Street opened the session Wednesday up timid, investors playing the card of caution before the results of the two-day meeting of the Monetary Policy Committee of the Federal Reserve (FOMC).

In early trade, the Dow Jones gained 0.22% (25.50 points) to 11,435.98 points. The Standard & Poor's, largest, advanced 0.34% (3.82 points) to 1206.16 points while the Nasdaq composite gained 0.85% (22.07 points) to 2612.21 points.

The markets expect the Fed decides to influence long rates to support economic activity, an action similar to that conducted in the 60's and so called "Operation Twist". The release is expected around 18:15 GMT.

Values, General Motors rose 0.71%.The CEO of GM has expressed concern about the risk of a recession in the U.S. but it does provide a recovery in demand because of the need to replace an aging fleet in the major economies.

The technology sector gets its game after Oracle reported Tuesday a quarterly revenue slightly exceeded expectations and delivered a better than expected profit forecast for the current quarter.

The work of the specialist management software database jumped from 7.37% in early trade, while Adobe, which also announced better than expected forecasts for the fourth quarter, advancing 5.8%.

Pepsico appreciating the title of 1.65%. The group announced the creation of a board comprising its divisions drinks and food in order to achieve economies of scale, and reaffirmed its outlook statement for 2011.

Greece hopes to conclude an agreement Tuesday with its international donors, so you can receive a new tranche of eight billion euros scheduled for October, told Reuters on Monday a senior Greek finance.

"The climate was better than expected," the official said, referring to a conference held on Monday between the Finance Minister Evangelos Venizelos and the "troika" (EU, IMF, European Central Bank).

The Ministry of Finance said earlier that this discussion had been "productive and substantial" and that it be repeated Tuesday night.

"We are close to an agreement and we hope to conclude tomorrow.The government will make an announcement likely on Wednesday after the cabinet meeting.We will continue the discussion tomorrow, "the official added.

Without this new tranche of aid, tied to the forefront of international bailout which Greece received last year, the Greek government said it would find itself short of resources in mid-October.

To avoid this, Greece has to reduce its public sector and improve its system of tax collection, consider its international donors.

"The ball is in the Greek camp, the key lies in the implementation of reforms," ​​said Bob Traa, the IMF representative in Greece, at a conference.

These reforms are required to Athens to collect a new tranche of eight billion euros in the first part of its bailout.

According to him, Greece has cut jobs in the public, reduce the salaries and pensions of civil servants and improve its system of tax collection rather than creating new taxes.

Bob Traa was concerned about the lack of public support for the IMF austerity program / EU, while saying that other countries in the euro zone were on the side of Athens, provided that the government showed that he was acting to control its deficits.

FIVE MEASURES

The euro, but Wall Street had cut their losses after an initial source of the Greek Ministry of Finance had said that an agreement was near on aid between Athens and the troika.

Earlier in the day, the euro was down sharply and European shares closed down for fear of a significant failure of Greece.

Greek media have published a list of 15 austerity measures that they believe the troika requires the implementation.They include a new deletion of 20,000 civil service posts, a reduction or a freeze on salaries and pensions of the public service, increasing the tax on heating oil, the closure of public deficit, reducing spending on health and accelerating privatization.

The EC stated that it did not ask to Athens to adopt austerity measures in addition to what has already been agreed in the reform program of government."What is on the table is in full compliance with the agreed objectives," said the spokesperson of the EC Amadeu Altafaj.

Asked whether Greece would receive the next tranche of aid, Venizelos responded to Reuters: "Yes, of course."

Even so, many economists and investors believe that Greece will end up in default on a debt that reached more than 150% of GDP, perhaps a few months.

Venizelos insisted on Sunday that the spending cuts would be the priority of the 2012 budget. He predicted a contraction of GDP higher than expected 5.5% this year.

The creation of non-agricultural jobs in the United States were zero in August and the unemployment rate remained unchanged at 9.1%, according to official statistics released Friday.

Last month, the creation of non-agricultural jobs were zero, according to the Labor Department, while economists on average expected 75,000 creations.

Statistics better than expected in July (117,000 new jobs) was also revised down to 85,000.

That of June was also revised downward, to 20,000 against 46,000 initially.

Overall, the private sector created 17,000 jobs, against 105,000 expected and after 156,000 in July (revised from 154,000).

The unemployment rate however remained unchanged from one month to the other 9.1%, in line with analysts' expectations.

In August, the U.S. economy has eliminated 3,000 manufacturing jobs, while economists expected 4,000 new jobs after 36 000 (revised 24000) in July.

The public sector has in turn eliminated 17,000 jobs, after having destroyed 71,000 in July (revised from 37,000).