National, World, Business News

The number of registered employment center has again sharply in October. The unemployment rate could pass the symbolic threshold of 10% this year as the economy is threatened lights of a new recession. Explanations. Agency employment center in Nice

Unemployment continued to fly in October in France: the number of job seekers without activity (category A) has again increased sharply in October, 1.2%, or 34,400 people, to reach 2.814 million , according to figures released Monday by the Ministry of Labour. The total number of people seeking work, including those engaged in a reduced (categories A, B and C) also increased by 17,200 to 4.193 million people (0.4%).

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.

Fever market does not seem to stop. So many voices calling for the ECB buys massive amounts of government securities in difficulty to break the panic and speculation. But is this really the solution? ECB

In the state of current market panic, the ECB is more than ever figure of last bastion of the euro area. Provided, however, she agreed to play this role … Italian interest rates still evolving around 7% Thursday, an unsustainable level on the scale of a few months. And fears of contagion from France have propelled the difference in interest rates between Germany and France to a new record (204 basis points difference, France into debt at a cost of more than two times higher).Sign that it is a disruption of markets, interest rates of other states in the euro area AAA rated – such as Finland or the virtuous Netherlands – are also affected.

In this context, increasing the pressure on the European Central Bank in order to redeem government bonds heavily attacked. The Nobel Prize in Economics Paul Krugman recently called for greater involvement of the ECB. "It should send a clear message and say" we buy as many (sovereign debt) than necessary. "In France, many economists on the left are also campaigning on this issue. Even in Germany, there are voices in this sense Like Peter Bofinger, an economist and adviser to the German government. "It's not attractive … But we must clearly realize that it's an emergency.

The giant consumer products Anglo-Dutch Unilever announced Friday the acquisition of 82% of the Russian cosmetics company Kalina Concern for 500 million euros.

Concern Kalina, Russia's number one segment of the cosmetics and hair care, is present mainly in Russia, Ukraine and Kazakhstan.

"This will transform the business of Unilever in cosmetics in Russia (…) This will also strengthen and rebalance the portfolio of Unilever and its competitive position in Russia, an emerging market with great potential and the One of our priority countries, "he said in a statement the general manager of Unilever, Paul Polman.

The action Unilever, which gained 7% last month, advancing 1.6% to 20.88 pounds at 7:20 GMT, valuing the company at about 26 billion pounds (29.8 billion euros).

The coalition parties are divided on aid to Greece. The Prime Minister threatened to resign if the Slovak Parliament does not vote, this afternoon, strengthening the EFSF. If the vote is negative, the mechanism of rescue of Greece is paralyzed. Slovak Prime Minister Iveta Radicova and the president of Freedom and Solidarity Movement (SaS) Richard Sulik in negotiations for el parliamentary vote of expanding the EFSF on 10 october 2011.

The Slovak coalition parties, on the brink because of a profound disagreement on strengthening the Rescue Fund of the euro area (EFSF), should continue their last-minute negotiations Tuesday morning, a few hours of the crucial vote in Parliament . A small party of the four-party coalition, the Freedom and Solidarity Movement (SAS), is willing to torpedo the EFSF during the vote, expected in the afternoon.

Facing the worst crisis since the installation of his cabinet in July 2010, Prime Minister Iveta Radicova threatened to resign if the coalition could not agree, according to the Slovak press. According to news agency SITA, has offered to link the vote on the EFSF a vote of confidence, to resign if the strengthening of the Fund does not go to Parliament or to resign before the election. "I will make a responsible decision, by tomorrow morning, on the proposal that I will do my coalition partners," she said Monday, without further details. She said it was his "ability to govern" is at stake

Bratislava does not pay its contribution of 7.7 billion EFSF

To enter into force, the expansion of EFSF must be ratified by 17 countries in the euro area.Entry into the euro area in 2009, Slovakia is the last of its members have not yet ruled on this issue. Malta has given the green light Monday night. Considering that the Slovaks are too poor to pay for the mistakes of others, the head of SaS Richard Sulik opposes EFSF, unless that Slovakia is provided to pay its contribution of 7.7 billion euros to the fund increased to 440 billion, a possibility already excluded by Brussels.

His liberal and Eurosceptic movement also requires Bratislava gets a veto on future disbursements EFSF and may disengage from the ongoing European Stability Mechanism (ESM) intended to replace the EFSF in 2013. A negative vote of Slovakia paralyze the financial rescue mechanisms decided on July 21 at a summit of leaders of the eurozone help the financially troubled countries, including Greece heavily in debt.

The ruling coalition in Bratislava holds 79 of the 150 parliamentary seats and therefore does not have a sufficient majority without the 22 members of the SAS. If the SAS continues to block the vote in Parliament, the coalition would seek the support of the opposition Social Democratic Party (Smer-SD) of former Prime Minister Robert Fico (62 deputies). But it said it would not support the EFSF unless obtained major concessions: a government reshuffle or early elections.

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.

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.

Provided, however, of fighting inequality and corruption, according to a study by the Asian Development Bank. The commercial area of ​​Nanjing to Shanghai

Asia could be as rich as Europe to 2050, but only if combat challenges such as inequality, corruption and climate change, warns a study by the Asian Development Bank (ADB) published Tuesday, August 2 . If current trends continue, Asia will total half of world economic output in 2050 and three billion people have joined the ranks of the richest in the world, with revenues equal to those of Europeans today, according to the report entitled "Asia 2050: Realising the Asian century."

But the ADB study noted, however, that the region with the highest growth in the world is still home to almost half of the world's poor, earning less than $ 1.25 a day. The march to prosperity is driven by seven Asian nations with more than three billion people, China, India, Indonesia, Japan, South Korea, Thailand and Malaysia. According to the most optimistic scenario, gross domestic product (GDP) of Asia combined – including both poor countries like Laos and Pakistan – will rise from 17,000 billion in 2010 to 174,000 billion in 2050, with a GDP per capita of 40,800 dollars.

But the rise of Asia is sustainable, the study warns, the region should emulate past successes in Japan, South Korea and Singapore, promoting equitable growth. "Asia is in the midst of a historic transformation," the report said."By nearly doubling its share of world GDP to 52% by 2050, Asia could return to the dominant economic position it held 300 years ago, before the industrial revolution." The report, however, the risk of advanced bursts of rapid growth followed by periods of stagnation or decline.

He said other challenges such as rising inequality within and between countries, poor governance and corruption, and increased regional competition for natural resources. In the worst scenario, Asia could be taken in a whirlwind of bad macroeconomic policies, uncontrolled exuberance of the financial sector, conflict, climate disruption of natural disasters, demographic changes and poor governance.To make sustainable growth in Asia, the study says, the region must tackle poverty, ensure equal opportunities, and focus on education, entrepreneurship, innovation and technology development.

Elected officials reached a compromise to raise the ceiling of the debt and avoid default. Obama has given almost all of the requirements of the Republicans. But was it really a choice? Decryption. The President of the United States Barack Obama announced Sunday, July 31 evening that Republicans and Democrats had reached an agreement on raising the U.S. debt ceiling. The worst has been avoided

If the agreement reached Sunday was approved by Congress before midnight Tuesday, the U.S. will not be in default on August 2, the text provides an increase in the ceiling of the debt of 900 billion dollars this year and to at least 1.2 trillion next year, which will allow the Treasury to borrow up to 2013.And if the United States are lucky, maybe the rating agencies do not negate their triple-A, although the deficit reduction expected to be less than that recommended by the agencies.

A clear victory for the Republicans

"Is that the agreement would have preferred? No," admits Barack Obama, who handles much the art of understatement. Although the Republican minority leader John Boehner in the Senate said it was not "the best deal possible", there is no doubt that it meets the essential requirements of the Republicans, namely a reduction deficit of 2.5 trillion dollars over 10 years produced no tax increase and then only by cuts in public spending. "These cuts in spending the most important for fifteen years," comments an editorial in the Wall Street Journal.In detail, a first reduction in spending for 1000 billion. A special commission bipartisan Congress will then be responsible for finding the end of November additional spending cuts of up to 1500 billion. In the event no agreement on budget cuts intervene further, a binding mechanism would be in place, automatically requiring 1.2 trillion dollars in cuts, not tax increases.

In fact, Obama had little choice. By threatening to block the raising of the ceiling as the government did not meet their budget requests, the Republicans had de facto taken the White House hostage. Of course, they had perhaps not "kill the hostage," that is to say, let the country fail, but the Republicans were determined to get the most concessions.The editorial of the very conservative Wall Street Journal is pleased as well as "the greatest victory in the fight for a smaller government since the reform of Social Security 1996". For the Keynesian Paul Krugman, on the contrary, "a disaster at all levels" with the cuts coming in government spending, the agreement will "damage to an already depressed economy, probably exacerbate the deficit problem in the long term and show that extortion is bearing fruit and has no political cost, which will push the United States a little closer to the status of a banana republic, "he writes.

A small consolation for Obama

The only real concession that the Republicans have made in the White House is the timing.Boehner's plan would make an initial temporary increase that would have just allowed to escape default on August 2 but would have forced Obama to put the subject up in 2012, in full presidential campaign, to reduce his chances of reelection. Obama also won the Social Security and Medicare, the health program for the elderly, are not affected by the automatic cuts. Moreover, almost half of these cuts would fall on the defense budget, which is precisely the area that the Republicans would save … The Democrats calculate that the Republicans could come forward to accept higher taxes in exchange for the Safeguarding of the defense budget. Finally, the agreement leaves open the question of Bush's tax breaks for the wealthiest households.Obama can expect it to happen to let them expire at the end of next year.

Nissan Motor said Tuesday it intends to nearly double its annual sales in China to sell 2.3 million vehicles a year by the end of 2015.

Nissan, the first Asian manufacturer in China, plans to do to invest 50 billion yuan (5.3 billion euros) in this market, now the world's biggest car market.

This objective is part of the strategy of the Japanese manufacturer who wants to focus on emerging markets and increase its margin to 8% in the next six years.

"The strong partnership established with Dongfeng Motor was the main driver of growth over the last eight years the Chinese market," said the boss Carlos Ghosn of Nissan in the statement.

"The new plan, which includes investments in production capacity, products and innovation, will enable the Chinese market to remain the largest market for Nissan."

To propel its sales, currently 1.3 million vehicles a year, Nissan will launch 30 new products in the next five years, including electric vehicles under the brand Venucia, which will be marketed by 2015.

Last year, Nissan has won a record global market share of 5.8%.China's market share was 6.2%, ahead of Toyota Motor and Honda Motor.

In September, Carlos Ghosn announced a target of 10% market share in China, but did not specify a timetable.

In the first half of 2011, Dongfeng Motor, a joint venture between Dongfeng and Nissan, sold 734,440 vehicles in the Chinese market, which represents an increase of 13.4% over the previous year, against a 3.4% increase on all markets.