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Unemployment in the UK fell to 8.2% in March after 8.3% last month. However, he could brush against 9% in 2013. Mervyn King, head of the Bank of England expects lower growth than expected.

Unemployment fell in March in the UK, according to official figures released Wednesday better than expected by economists, who provide a rare good news for UK economy into recession. Unemployment in the UK fell to 8.2% in March after 8.3% the previous month, while economists on average expected a rate of 8.4%.

The number of people looking for work fell by 45,000 over the three months ended in late March, reaching 2.63 million people, said Wednesday the Office for National Statistics (ONS). "The employment figures are remarkably strong." But they "really do not stick with the fact that the UK is supposed to be in recession," said James Knightley, an analyst at ING Bank.

The government, which expects an increase in private employment to offset job losses in officials as part of its austerity plan, hailed a "step in the right direction." But the general secretary of the union confederation TUC, Brendan Barber, for its part held that the figures were "mixed", with a drop in unemployment accompanied by the increase in part-time work and pressure on wages.

Observers of the coup remain cautious thereafter, believing that the upturn is unlikely to last, while the purchasing power of households remain under stress and that economic prospects in the UK as in the euro area are adjacent to the less mixed. "The labor market still does not come in support of a recovery based on consumption", and Judge Vicky Redwood, economist at Capital Economics. Howard Archer, economist at IHS Global Insight cabinet, table and on a peak in unemployment to 2.82 million people in the second quarter of 2013 with a rate of 8.8%.

These predictions stick with the diagnosis of the Bank of England (BoE). Economic growth in the UK in the short term will be "weaker" than expected, said Wednesday its governor Mervyn King at the presentation of the quarterly report of the institution on the economy. In this report, the Bank of England lowered its short-term forecasts, with an annual growth to below 1%, whereas in previous estimates, in February, she anticipated over the symbolic.

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The first five Spanish banks will have provisioned an additional EUR 15 billion to cover the risk associated with their loans, putting further pressure on their finances while Spain tries to restore confidence in its banking sector.

Friday, the Spanish government has imposed on its banks to provision 30 billion euros, in addition to the required 54 billion in February, to cover both their claims to outperform their loans risk.

The move comes as part of a reform which is the fourth bank bailout in four years of Spanish banks. These have heavy losses with the collapse of the housing market in 2008, raising fears about a possible aid to Spain.

The 30 billion euros of additional provisions weigh heavily on banks as investors worried about where the institutions will be able to find the money and if this will be sufficient.

The Spanish government said that the state provide public assistance limited to 15 billion euros, and only in the form of loans convertible into shares, the banks which lack capital.

At the Madrid Stock Exchange, banking reform has not convinced investors. The Ibex 35 fell by 2.26% at 12:30 GMT, weighed down by banking stocks. Bankia, which the state took control last week, fell by 9.42%, 5.21% of Banco Popular, BBVA 3.63%, 2.98% of Banco Santander and of Bankinter 2.31%.

The yield spread (spread) between the Spanish 10-year bonds and German bunds, which serves as a refuge, for its part, reached 485 basis points, the highest since the introduction of the euro.

PROVISIONS FOR EACH BANK

BBVA, Spain's second largest bank, said Monday it would increase supplies of some 1.8 billion euros to comply with new rules on capital announced Friday by the Government .

The new provisions will be reflected in the annual accounts and will have a net impact of around EUR 1.3 billion, the company said. 

For its part, Santander, the first credit institution in the country, will have to register in its books 2.7 billion euros in provisions, in addition to 2.3 billion euros announced in February.

Banco Popular said it would set aside 1.7 billion euros in provisions, but added that he would not need public funds to achieve this. The bank nevertheless said it would take two quarters to comply with new requirements.

Banco Popular will merge with its smaller rival Banco Pastor, which amounts to 2.3 billion euros in total amount of reserves required.

For its part, La Caixa, which is currently buying Banca Civica, will have to set aside 3.4 billion euros.

For most Spanish banks in difficulty as Bankia, the fourth largest bank in Spain following the merger of several small savings, the new provisions will constitute an additional burden. The parent of Bankia, BFA, said she needed $ 4.8 billion to meet government requirements.

Although these banks said they did not need assistance from the State to comply with new capital requirements, the need for additional reserves could change this.

Already, the increasing problems of Spanish banks and government interventions, including the safety of Bankia, have revived the wrath of public opinion in Spain, a year after the outbreak the movement of "Indignant".

Tens of thousands of Spaniards took to the streets and plan to stay until at least Tuesday. The demonstrators had planned on Monday to close their accounts at Bankia to protest against the rescue of the bank.

Yes and no … The new president issued his declaration of assets. Well above the average of the French, it is also below that of his predecessors. Francois Hollande has assets of 1.17 million euros. Does that make him a rich?

During the 2007 presidential campaign, Francois Hollande, then first secretary of the Socialist Party, gave his definition of rich: more than 4000 euros per month. This Friday, now the president has made public, as is tradition, heritage. Heritage Francois Hollande totaled 1.17 million euros. It includes a house in Mougins, on the heights of Cannes, worth 800,000 euros. Holland is also part owner of two other apartments in Cannes. He also reported owning furniture for 15,000 euros. Finally, it has three bank accounts totaling about 8000 euros, and life insurance of 3550 euros. Then, Francois Hollande is he rich? It depends on perspective.

Yes, if you compare his assets to the French average.

On average, each household in France has a heritage worth 259,000 euros according to INSEE. At 1.17 million, that of Francis Holland is more than four times. It appears even in the richest 10% of the population, who have a wealth of at least 552,300 euros. However, it is not among the wealthiest 1%: to be part of this club, the bar is 1.9 million euros. Francois Hollande may well be a president "normal", its heritage, it is very much higher than normal.

No, if we compare its assets to that of previous presidents

Nicolas Sarkozy declared, after his election in 2007, a heritage of 2.7 million euros divided into two life insurance policies. And, unlike Francois Hollande, said he also had 100,000 euros of jewelry, gold and other art objects. In 2007, Jacques Chirac left the Elysee with a had a wealth of 1.4 million euros, made up, including Castle Bity, in Corrèze. As for Mitterrand, his heritage was 9.7 million francs as it leaves the Elysee Palace in 1995, about 1.48 million euros. It mainly consisted of her apartment in the Rue de Bievre in Paris and his home in Latche, in the Landes.

No, if we consider that rich is someone who pays ISF

Reform of the ISF of Nicolas Sarkozy, in 2011, increased the threshold of wealth tax: it now accounts for taxpayers with a heritage than 1.3 million euros. At 1.17 million, Francois Hollande did not pay the ISF. He does not pay with the promised reform of the tax. Certainly it provides a slice of 0.55% on assets ranging from 800,000 to 1.3 million euros. But only the assets in excess of 1.3 million will pay this additional tranche.

This should significantly complicate discussions between Paris and Berlin. "It is not possible to renegotiate the fiscal pact", which has already been "signed by 25 of the 27 member states of the European Union", said on Monday a spokesman for Angela Merkel. German Chancellor Angela Merkel (the Bundestag by December 2, 2011).

It is "not possible to renegotiate the fiscal pact" European, said Monday the spokesman of German Chancellor Angela Merkel, Steffen Seibert.

"It is not possible to renegotiate the fiscal pact", which has already been "signed by 25 of the 27 member states of the European Union", which aims to strengthen discipline in public finance management, said Mr. Seibert in a press conference, despite the wish of the new French president, Francois Hollande, to add to it a component of growth.

NYSE Euronext reported Monday a sharp drop in its first quarter results, citing "difficult operating environment" and the resulting costs of its failed merger with Deutsche Börse.

The exchange operator announced for the period net profit down 44% to $ 87 million (65.71 million euros).

The total turnover declined 17% to 952 million.

"Our first quarter results reflect the difficult operating environment that continued in 2012 and will continue to be felt in the short term," said Duncan Niederauer, CEO of NYSE Euronext.

The group said to include $ 31 million cost, including $ 16 million of costs associated with the aborted merger with Deutsche Börse. 

NYSE canceled the merger to $ 7.4 billion in early February after the agreement was rejected by the European antitrust authorities, making this operation the fourth merger canceled since early last year.

Since the failure of this transaction, NYSE Euronext has refocused on the opportunities presented by new markets such as the creation last month of its own clearing house for transactions and eventually moved away CHL. Clearnet, its supplier to date.

This creation comes as its main rival the London Stock Exchange plans to finalize the acquisition of LCH in the fourth quarter of this year.

European shares fro up slightly at mid-session Friday, good earnings reports of companies that are somewhat forgotten the downgrade of Spain by S & P the day before.

Caution is especially appropriate that investors expect this afternoon the publication of the first estimate of U.S. GDP in the first quarter and the confidence index of Michigan on consumer sentiment.

In Paris the CAC 40 rose 0.29% to 3238.62 points. In Frankfurt, the Dax gained 0.08% and London, the FTSE is 0.31%. The pan-European index Stoxx 50 was stable (0.04%).

The construction industry supports the European equity markets, the index Stoxx600 of construction and materials climbing 1.7%. The fund is boosted by the good results of Vinci, whose title climbed 3.7%.

The cost of insuring against a default of Spain was up after a deterioration of the country's rating by S & P. CDS (credit default swaps) and five years on Spain took 12 basis points to 480.

Sign of tensions in the bond market of the peripheral countries of the euro area, the Italian Treasury has had to endure, during a broadcast of € 6 billion of sovereign debt, the expensive ts funding for bonds to five and 10 years at the highest since January.

Down against the dollar after the announcement of the degradation of Spain, the euro resumed in mid-day, to 1.3179 dollar.

The yen, it weakened against the dollar and the euro after the decision of the Bank of Japan to increase its program of asset purchases to support the economy.

Travauil Minister Xavier Bertrand said that the situation on the employment situation "remains difficult". The numbers of job seekers in March will be published in late today to 18. The Minister of Labour and of Health Xavier Bertrand

Labour Minister Xavier Bertrand said Thursday that the situation on the employment situation "remains challenging", but the first quarter of 2012 will be "better" than the last in 2011, while the numbers of job seekers will be published in March in late afternoon by his ministry. "We will remain a difficult situation, everyone would expect, given the economic climate. That said, we will have a first quarter of 2012 to be better than the last quarter of 2011," said Minister interviewed on LCI data of March.

"We will not be satisfied with this path, we must do much more and much better in terms of outcome," he said. "You have to have a significant and sustained decline in unemployment and, for that, we need major reforms much larger still," he added. As he was questioned about whether the figures for March – the last of the five-year period – will be bad he repeated: "the situation remains difficult." In February, the number of job seekers without work in France had increased for the tenth consecutive month reaching 2,867,000 people, or 6,200 more than in January.

China doubled the maximum fluctuation of the yuan, to 1%. The measure was hailed as a step towards greater liberalization of the exchange rate of Chinese currency. At the opening Monday, choinoise currency was down against the dollar. A 100-yuan face a $ 100 bill.

The Chinese currency was a downward trend against the dollar on Monday for the reopening of the foreign exchange market after the announcement over the weekend to double the range for the yuan against the greenback. People's Bank of China (PBOC) authorized as of Monday a maximum fluctuation of 1%, down as well as up, around a central rate fixed by day, against 0.5% previously. The measure was hailed as a step towards greater liberalization of the exchange rate of the Chinese currency, which gives the low level by major trading partners of China an unfair competitive advantage to its products.

By late morning Monday, the Chinese currency was trading at 6.3145 yuan per dollar, while the central rate was set early in the day at 6.2960 yuan to one greenback. This downward trend reflects investors' fears fueled by the publication Friday of growth below expectations in the first quarter, to 8.1% annual rate. "The Beijing consensus is that the margin of appreciation (the yuan) seems quite limited," according to Lu Ting, an economist at Bank of America – Merrill Lynch. This is partly due to the slowdown in export growth as well as a small current account surplus to 2.8% for 2011, which make "the external pressure on China for an assessment … has dissipated, "said the analyst.

"There was recently a series of reforms affecting the yuan and the financial sector at large, which all go in the direction of greater liberalization," noted for his part, Mark Williams, Asia economist at Capital Economics . "The enlargement provides the basis for a system of exchange rates more volatile and more based on the market in the future", according to this analyst. "The signal sent by China, it may be that the unilateral (Chinese currency) has expired," said his side to AFP Sun Junwei, an analyst at HSBC in Beijing. In March, Premier Wen Jiabao had estimated that the level of the Chinese currency was "close to balance".

Crude prices have come down on Friday, announcing a slowdown in Chinese economic growth led investors to harbor doubts about the changing demands of the consumer of the second pe PETROLEUM.

On the Nymex, the May contract on U.S. crude (WTI) ended on a loss of $ 0.81, or 0.78%, to 102.83 dollars a barrel.

For the week, a barrel of WTI lost 48 cents, 0.16%, recording a fourth weekly decline in the space of five weeks.

Analysts warn, however, it is still too early to suggest a downward trend, especially as several geopolitical files remain on the table, including Iran.

Consumer confidence signs outright acceleration in March after remaining flat in February, announced Tuesday INSEE.

The synthetic indicator of confidence was up by five points to 87 against 82 in February. It still remains well below its long-term average, keyed to 100.

All 20 economists polled by Reuters had expected an index to 82 on average.

In March, consumer confidence about their personal financial situation rose rose three points to -28, INSEE said in a statement.

That their future personal finances back seven points to -18.

Their opinion on the advisability of making major purchases is unchanged from February (24).

Households also feel that the time is somewhat less favorable than in February to save (2 points to 22).