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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.

Mersen, ex-Carbone Lorraine, which confirmed its 2011 objectives, supported by strong solar activity, and Asia, said he was careful, however, for 2012 due to economic climate remains uncertain.

The specialist in graphite solutions and electrical components still expects a double-digit organic growth and operating margin above 12% of its turnover.

"The macroeconomic environment is what it is, that is to say today very uncertain, so there is little visibility (for 2012)," said Thomas Baumgartner, CFO, at a conference phone.

"The growth of Mersen was very strong across all areas (…) And we recorded very high billing in the sun ", he added, however.

The group reported Tuesday sales up 11.1% at constant exchange rates in the third quarter to 207.8 million euros, an increase of 14.1% in the first nine months of year to 627.1 million euros.

"Asia represents over 25% of consolidated turnover of the group, over 37% Europe and North America 32%, so we have a well balanced business," observed the Chief Financial Officer group.

Mersen began several years ago marked a profound change in its output segment of the automobile and its focus on solar, wind and emerging markets.

The stock closed Tuesday up 2.12% to 28.19 euros, giving a market cap of around 559 million euros. Since the beginning of the year, as yields 17.81% after rising by 35% in 2010.

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 French will be more better off put to three years, the time to reduce the deficit, but the government should ensure the right balance to avoid an exodus of the richest, said Wednesday at the Reuters chief executive of Publicis Maurice Levy.

The French executive, who is about to announce a package of measures to meet its deficit reduction targets, including considering a contribution of more privileged who could take the form of an exceptional tax the highest incomes.

"The whole problem is to calculate the contribution so that it is not only symbolic and it is not a discouragement for the ruling classes, or advantaged people who say 'this If I go, '"said Maurice Levy, who also chairs the French Association of Private Enterprises (AFEP).

"So it's a balance to be struck so yes it is an effort, it is limited in time, it allows to solve problems, it is significant but it is not discouraging, "he said in an interview with Reuters.

In an article in Le Monde in mid-August, Maurice Levy floated the idea of ​​a contribution of the richest in France, before being joined by a dozen other CEOs.

The government and several officials of the majority suggested that the key contribution income over one million euros annually.The approximately 30,000 households concerned and would pay a total of about 300 million euros in additional taxes next year as determined by the UMP rapporteur of the budget in the Assembly, Gilles Carrez.

No cups ADVERTISING INVESTMENT

Some voices were raised to denounce a cosmetic measure, which would not affect the distribution of wealth in France.

"I do not want this to be only symbolic, I think it has to be a real contribution," said Maurice Levy, who initially pleaded for an effort of limited duration, without excluding a subsequent more comprehensive overhaul of the tax system.

"I think it takes three years to redress public finances if they have a sustained and vigorous," he added."Then we take stock, and if after three years you realize that it's better to reform the system, we will reform the system."

Maurice Levy was confident in the ability of France to redress its finances, while stressing the need for structural reforms.France suffers particular, he said, a cost of labor made too high payroll taxes, and a labor law particularly complex, especially with regard to restructuring.

Maurice Levy is leading advertising group in the third world in terms of turnover, whose activity is sensitive to changes in economic conditions.

While stock markets have come through three weeks black leaded by fears of a slowdown in the global economy and the problems of sovereign debt in the euro area and the United States, the head of Publicis said he did not see the signs of downturn.

"What we've done so far in August, is to call many of our customers and try to understand what was going to happen on future investments," he said. "For now, the indications we have are indications of continued investment without much change."

He was optimistic for next year, which will be marked by two major sporting events: the London Olympics and Euro 2012 football.

"With these two events, we already know that it adds between 80 basis points to 120 basis points for growth," he said.

The bill for the storm that hit Friday and Monday on the financial markets totals 917 billion euros for the European and American companies, according to calculations by Dexia. Traders at the New York Stock Exchange, August 8, 2011.

More than 900 billion euros went up in smoke on the stock market in two days in the U.S. and Europe, according to analysts' estimates of Dexia Securities, the brokerage subsidiary of the Franco-Belgian bank Dexia.

The bill for the storm that hit Friday and Monday on the financial markets totals 917 billion euros for companies on both sides of the Atlantic, said the document, which speaks of the "cost of great fears in the year 2011. "

On Friday, August 5, the European stock markets had fallen because of fears about the U.S. economy and concerns about contagion from the crisis of debt in the eurozone.That day, London had dropped 2.71%, 2.78% Frankfurt and Paris 1.26%. For the week, the Frankfurt Stock Exchange had lost 13%, in London nearly 10%, and Paris almost 11%.

Monday, August 8th, financial markets had panicked after the deterioration of historic note credit of the United States. The New York Stock Exchange fell by 5.55%, its worst day since December 2008. In Europe, Frankfurt plunged 5.02%, Paris and London of 4.68% from 3.39%. "As you can see, the addition is heavy," said the AFP Jean-Paul Pierret Dexia Securities.

3.4 trillion lost in six months

Seven months, about 3,400 billion which went up in smoke, which represents almost a third of gross domestic product of the United States (14,500 billion), according to Pierret.These estimates take into account the loss of 500 U.S. companies grouped in the stock market SP 500 and 600 European companies listed in the Dow Jones Stoxx 600, said Dexia Securities.

All economic sectors are represented, to finance services through the health, transport, luxury and consumption. We thus find the energy companies ExxonMobil American, French Total, BP, U.S. banks Citigroup and Goldman Sachs, the French BNP Paribas, Barclays, Banco Santander of Spain, the German Deutsche Bank and pharmaceutical companies Merck and Sanofi .

From Tokyo to Wall Street, via Frankfurt, Paris or London, the world stock markets have been strongly shaken on Monday by the deterioration of the credit rating of the United States. The specter of a new stock market crash is on everyone's mind. In Asia, the Shanghai Stock Exchange closed down 3.79% Monday, August 8. Why stock markets loosen?

Initially, it is the debt crisis of the Greek and European, who threw the trouble in the markets. Even the European rescue plan last July 21 is reached only very briefly restore investor confidence. Since every day is bad news was sinking deeper into the red exchanges. In late July, the U.S. announced a low growth in the first half (+1.3%) and something unique, a downward revision of growth earlier.The slowdown in industrial activity, lower consumption, and uncertainty on global growth while adding to the uncertainty room. At the same time, fears the strongest focus on the U.S. debt crisis, for which the consensus seems impossible to find. On 2 August, a few hours of the deadline, Democrats and Republicans finally agree to increase the ceiling on the debt. But markets were not satisfied with this agreement as a minimum, no resolutions have been taken seriously to reduce the deficit. The rating agency S & P, which called for an agreement is reached 4 trillion dollars of debt reduction ends up putting his terrible threat. Friday, it fell for the first time in its history the U.S. debt rating to AA +.The perfect ingredients for an explosive mix together: the problem of rising debt and sluggish growth concerns, which eventually self-sustaining. On the European side, where stock markets have dropped tremendously due to the debt crisis of the European, the penalty is double, the markets continue to tumble.

Companies are they for something?

Companies are not completely foreign to the decline. The second quarter results have indeed disappointed the markets, especially in Europe, where companies suffer from the downward revisions of growth in Asian countries. Some of them are even forced to carry warnings about results, after first quarter yet considered excellent. In the United States on the other hand, companies have greatly benefited from sustained growth in Latin America and favorable foreign exchange effects.Thus, in the second quarter, 71% of U.S. companies have published the results above expectations, against only 46% in Europe. In detail, the most battered markets are industrials, technology and raw materials, that is to say the most exposed to global growth … However, the health of companies is not as bad as it sounds, and has participated only slightly in summer stock unscrewing. "The CAC 40 companies for example are for the most beneficiaries. What more shocking is the difference between the optimism a few months ago and gloom," said Christian Parisot, an economist at Aurel Level .

Can we talk about stock market crash?

The definition of crash-sudden and precipitous decline in the index of one or more places worldwide, is not absolutely clear.Economists agree that there is crash when the index lost more than 10% in one session, and / or 20% in a few days, which only happened twice in the twentieth century, 1929 and 1987. Even in 2008 at the height of the financial crisis, we have not seen a stock market crash, but only to a very high price volatility. This does not mean that the situation is not alarming either. Since the last above, July 22, several European indices like the CAC 40 lost more than 15%. Moreover, the concern of investors is more about the resulting decline in prices on the magnitude of this decline: from 10 days now the markets are falling continuously, including a first for the CAC 40. This means that in 15 days, any economic indicator, no technical rebound has allowed the evidence to blow.

How far this can go down?

This day of Monday is crucial. All weekend, governments and central bankers worldwide have struggled to find solutions to avoid the emergence of a new Lehman Brothers. In France, Nicolas Sarkozy has stepped up calls with its European counterparts, particularly with German Chancellor Angela Merkel. The G7 finance ministers also met in the night from Sunday to Monday and pledged to "take all necessary measures to support financial stability and growth." Understand the central banks are ready to inject liquidity in the markets in a panic. As for the ECB, it was prepared to buy back the debt if the Spanish and Italian investors deserted.The result was encouraging since at the opening of European stock, the dreaded crash did not occur. But as and when the day, the situation has worsened. At 4:30 p.m. in Paris, the benchmark index fell nearly 4%, as investors kept their eyes on Wall Street. Almost an hour after opening, the U.S. stock markets lost more than 3%. The crash is not excluded.

In the longer term, it is very difficult to predict what will happen in the markets. "Everything will depend on the credibility of political solutions in place to absorb the debt crises on one side and across the Atlantic, said Christian Parisot. While at present, governments have made important decisions, their implementation is delayed. "In Europe including the pace of the support plan, which must not pass the national parliaments by the end of September, largely contributes to the crisis of investor confidence. Moreover, "everything depends on the practical implementation of plans to reduce deficits. If growth continues despite the cuts, then the market can regain some momentum," said Christian Parisot. But for the latter, as any good macroeconomic indicator will not be published, global indices remain capes, investors are not willing to pay dearly in the future of stock exchanges as unstable.

G20 countries have made contact by telephone Sunday morning to discuss the consequences of the debt crisis on both sides of the Atlantic, shaking financial markets and fears of a relapse of Western countries into recession.

After heavy turbulence in global financial markets, which lost 2,500 billion during the past week, European and American leaders find themselves again forced to reassure investors about the ability and determination of countries to reduce their deficits and public debts.

According to South Korea, a conference call Sunday morning brought together financial officials of the G20, which groups the world's major economies, to discuss the situation caused by tension on the debt in the euro area and lower by Standard & Poor's sovereign rating of the United States.

The G7 finance ministers are also expected to contact during the day and it is possible that they broadcast a statement, said a Japanese government source. The most logical would be that the conference takes place before Asian markets open on Monday at 9:00 (0:00 GMT).

The European Central Bank (ECB) will hold a conference call for its Sunday afternoon.Markets expect the ECB to see begin on Monday the purchase of government bonds in Italy and Spain in order to stabilize prices, but the issue divides within the institution in Frankfurt.

French President Nicolas Sarkozy, whose country currently chairs the G7 and G20, spoke Saturday on the phone with British Prime Minister David Cameron.

ITALY

In Washington, an economic adviser to the White House deplored the decision by S & P to degrade the rating of U.S. debt from AAA to AA +, which could ultimately affect all markets by increasing the cost of borrowing and undermining the prospect of sustainable recovery.

Asian allies of the United States, Japan and South Korea have renewed their confidence in U.S. Treasury bills, may lose value.

"There will be no sudden change in our policy of reserve management," said Vice Minister of Finance of South Korea, Choi Jong-ku.Much of the country's foreign exchange reserves, valued at over $ 300 billion, are made up of U.S. bonds.

"No alternative does not provide such stability nor such liquidity," said the South Korean official.

But the immediate concern of financial markets for the debt crisis in the euro area, while interest rates in Italy or Spain jumped to their highest levels in 14 years in recent days.

The absence of repurchase obligations of both countries by the ECB to ease prices has been particularly punished by the markets that have seen the sign of internal divisions harmful.

German officials in the central bank to claim the benefits of the implementation of stringent austerity measures before giving the green light.

Pressed on all sides, the Council President Silvio Berlusconi said Friday evening the implementation of an austerity plan a year ahead of schedule, achieving a balanced budget in Italy in 2013.

WASHINGTON SERMON S & P

One of the dangers feared by economists is to see Italy, the third economy in the euro area and the eighth world economy, private market financing.

Italian public debt reached 1,800 billion euros, or 120% of gross domestic product.

July 21, the countries of the euro area agreed on strengthening the European Financial Stability Fund (EFSF) to assist its members in trouble, but decisions must still be translated into action.

In addition, an extension of the crisis in Italy or Spain, after the bailouts granted to Greece, Ireland and Portugal, in the eyes of observers would require a strong increase in lending capacity of EFSF, with time for the 440 billion euros.

Quoted by the weekly Der Spiegel, the German government experts doubt that Italy could be re-floated by the EFSF even if the fund saw its capacity threefold, because the needs of Rome are in their too great.

United States, the lowering of the sovereign rating has been denounced by the Treasury, which held that the rating agency "forgot" 2000 billion in budget savings in its calculations.

Gene Sperling, economic adviser to Barack Obama, quipped on an agency "that starts from a conclusion and then looks for arguments to prove it."

The U.S. president called on members of Congress, who have battled for weeks over the question of raising the debt ceiling, to unite to improve the fiscal situation and stimulate growth.

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.

EDF issued Friday an increase in profits in the first half data in organic and has set targets for growth in the medium term long-awaited by the market.

The electrician public said in a statement it was for the period 2011-2015 average annual growth of between 4% and 6% of its gross operating profit (EBITDA), at constant scope and exchange rates, and a range from 5% to 10% in net income.

EDF is also a ratio of net debt to EBITDA below 2.5 and a payout ratio of 55 to 65%, and net investments of between 13 and 15 billion euros in 2015.

The group, which seeks to diversify its energy mix and geographical locations, said in May it was 200 gigawatts (GW) of capacity in 2020 against 150 GW at present, 50% in the nuclear, 25% in the thermal (gas, coal) and 25% hydro and other renewables.

In France, EDF said in particular that it plans to spend between 3.4 and 3.6 billion euros in 2015 to ten-year inspections, the program of replacement of heavy components and other investments related to plant operations, against $ 1.7 billion in 2010.

The electrician also provides that the efficiency program will allow him to record 2015 earnings by more than 2.5 billion euros (over 2010), about 1.3 billion euros purchasing performance, on the margins, operating costs and investments.

PURPOSE OF NUCLEAR PRODUCTION RECORD

After restatement of the first half of 2010 to reflect the disposals, the group recorded in the first half 2011 net income group share of EUR 2.554 million (139% organic), a net profit of 2.629 million ( 12.5% ​​organic growth), EBITDA of 8.616 million (6.2% organic) and a turnover of 33.464 million (+2.7% organically).

According to the consensus reached by the group, analysts on average expected a net profit of 2.429 million euros, EBITDA of 8,580 million and a turnover of 33.508 million.

The growth in EBITDA in the first half was driven by good operating performance in France, where the group has improved the performance of its nuclear fleet, and the United Kingdom.

EDF is also the target range nuclear production for 2011 at a level of 411 to 418 terawatt hours (TWh), against a target of 408 TWh to 415 TWh above.

For 2011, it is always an organic growth of its Ebitda of between 4% and 6% and a dividend at least equal to that paid for 2010.

It is also banking on a ratio of net debt / EBITDA between 2.1 and 2.3 by including the buyout of minority EDF Energies Nouvelles.

"The most demanding investment criteria will be applied. The EDF Group will invest in projects that create value from 300 basis points above the weighted average cost of capital (WACC), which corresponds to rates of return above 1.0 to 1.5% from the previous criteria, "he added.

The title EDF closed on Thursday during a 27.005 euros, registering a decline of 12% since the beginning of the year after a plunge of 26% in 2010.

The Bank of France added his voice to the chorus of warnings about the activity in France. If the official growth forecast of 2% for 2011 is not threatened, and the second half of 2012 ahead full of pitfalls. 8 reasons to worry.

After starting the year with a bang and win government news, bad news for economic activity accumulate France. The growth of the French economy would slow sharply to 0.2% in the second quarter, after 0.9% in the first, according to a new forecast of the Bank of France on Friday. Twice less than the 0.4% proposed so far. This prediction is consistent with that of the INSEE table but on a rebound in the second half that would achieve growth of 2% throughout the year.Is the goal set by the government or the estimate recently published by the IMF for the country. The fact remains that the multiplication of negative indicators in the space of just a few days lead to worry, if not the achievement of these targets, at least on the exact health the French economy. Overview.

The effect of restocking is complete

After destocking during the lean times, companies have begun to replenish their stocks at the time of recovery. This was a technical factors determining the good performance of industrial production in the first quarter. Inventory changes have indeed contributed 0.7 point to growth in the first three months of the year. But this dope is now closed. Stocks are "slightly above the desired level" according to the survey of the Bank of France to the business.

The business climate is deteriorating

The indicator of business climate of the Bank of France in June fell below its long-term average (100 points) in the industry, he moved to 99 points (against 103 in May) and the services it totaled 99 points (against 100). After collapsing with the crisis can be raised above its average, the indicator relapse so far. The outlook is simple to stability in the industry, and progression to moderate pace in services.

The activity and order books are progressing more

Sales in France fell sharply in the scheme in June, according to the firm that publishes a Markit PMI closely watched by economists. In manufacturing industry, manufacturers have never produced so little since July 2009. And services, providers reported the lowest increase in their course of business for the past six months.Not surprising if one looks closely at the level of order books. The rate of expansion of new business across all sectors, has a lowest in 22 months. As a result, sales increased slightly both in the domestic market and export.

The foreign trade deficit breaks all records

The negative balance of trade balance reached 7.4 billion euros in May from 7.2 billion in April, according to customs statistics released Thursday. Numbers never seen before. The first five months of the year, it settled at 33.4 billion: an amount up 60% year on year, which already represents nearly two-thirds of the annual deficit in 2010. It should beat the 2011 record high year over 55 billion reached in 2008, at the height of the crisis. "What is happening is very serious," has acknowledged the Secretary of State for Foreign Trade Pierre Lellouche.Structurally, this huge deficit arises because the issue of competitiveness of French companies because, in addition to the energy bill, it is linked to a very low growth of industrial exports. But this poor performance will lead short-term French growth. In the first quarter, foreign trade had already withdrawn 0.4 points to GDP growth.

The engine of consumption is down

Purchases of goods of French households fell 0.8% in May after having fallen back by 1.4% in April and 0.9% in March. Not since the summer of 2008, just before the outbreak of the financial crisis, to find three consecutive months of falling consumption in France. This further decline was a surprise to all analysts who had forecast the contrary, a strong rebound after falling in April.Apparently, rising prices, both energy and food prices begins to do damage. What to ask a possibly prolonged failure of traditional engine of French growth. Especially as the unemployment figures do not grow to be optimistic.

Stop to the decline in unemployment

After four consecutive months of improvement in the unemployment figures, the announcement of a net 0.7% increase in the number of unemployed in May was the effect of a cold shower. The total number of people seeking work, including those who have worked reduced jumped even more sharply from 1% to 4.078 million, its highest level since the 2008 crisis.Despite its growth forecast of 2% this year, INSEE also does not open embellished, and expects the unemployment rate down to 9% at end 2011, against 9.2% in the first quarter, while the government hoped to pass a rate below 9%.

Business bankruptcies remain high

Direct consequence of the weakness in consumption, business failures recorded in France in the second quarter remained stable at a high level, the company said Thursday Altares. Despite the economic recovery, the number has in fact declined by only 0.3% over the period, with 14,397 judgments backup, reorganization or liquidation. Three quarters of the failing firms employing fewer than three employees."Rather than present in the food trade, catering, services to the person or business, these structures are struggling to resist in the face of sluggish consumer spending."

The building is not going that well

When the building is all is, the saying goes. If he is right, the return to growth in new housing construction in 2011 after three years of decline must be hope. Indeed, professionals considering an increase of 2.2% this year which will result in hiring. But this improvement may be short-lived as the housing market is threatened with blocking. It is indeed faced with a double upward movement, the price of m2 and that of interest rates. A coincidence which had not been seen since 2000 and is likely to stopping sales, as well as new, as in the former, as indicated by recent Century 21.Or the real estate market feeds the secondary market for home furnishings. This may also weigh on household consumption.