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The atmosphere is gloomy in the Paris Stock Exchange on Wednesday. After opening sharply down, the CAC 40 ceded 0.23% to 2863.30 points at 9:40. Unable to maintain its rebound yesterday, the CAC 40 would be difficult to bounce back following the announcement of a further slowdown in the Chinese economy. Preliminary PMI Manufacturing activity in China, issued by HSBC this morning, recorded in November, its biggest drop since March 2009, to 48 against 51 in October. Below 50, this means a contraction.

The country's dependence on exports is the main cause of this fall, analysts said the bank flexcheck cash advance. China is beginning to feel the impact of the economic downturn of its main European and U.S. clients. To this end, HSBC is lowering the forecast industrial production to 11% or 12% year on year in the months to come (against 13.2% in October).

Both countries, however, block the proper role of the ECB. The German government remains the main obstacle to further action of the European Central Bank in the European market debt. French Prime Minister Francois Fillon acknowledged Tuesday, before the members of his majority, convinced that Germany was "a major difficulty."

Focus on Asia

At a time when academic trips abroad have become common, difficult now to be confined to conventional horizons. Result, the student takes transhumance paths atypical. Foremost among these new destinations, Asia captive. "The economic environment, business needs … It speaks only of Asia, it creates envy," said Thomas Albertini, of Worldiploma.

Large schools, the first, understood the importance of the land of the future. "We must be lucid. During their career, my students have to work one day either with a company in Asia, "insists Patrice Houdayer, School of Management (EM) of Lyon. So much so that, like others, the school opened a campus there, in this case in Shanghai. With Erasmus Mundus, universities have caught the trend of flight."20% of masters and doctoral degrees involving a French university has an Asian partner," Preciset to be Agence Europe Education Formation fast cash. Seven hundred in Japan, 600 in 6300 in Singapore or China …

If those who leave the Anglo-Saxon or European are still rare birds, their number is growing. According to the Conference of Grandes Ecoles, the number of students going to China grew by nearly 300 in two years. Access to these separate education systems is not always easy, but by dint of effort, local officials encourage this trend. "The number of programs in English, their quality and attitude of the speakers show increasing efforts" says Julien Bohdanowicz, the School of Mines. Le Figaro Magazine has identified four destinations for the future.

• Japan

Many agreements have been realized between our two countries, such as those between HEC and ESSEC to Keio.

A new step towards austerity. The Italian Senate on Friday approved the measures promised to the European Union (EU) to reduce the country's deficit and revive growth. The Chamber of Deputies will examine in turn the text tomorrow. Sil it gives, too, agree, the way is clear for Silvio Berlusconi announced his resignation as promised.

• Sale of public assets

Rome will transfer public property, including belonging to the army, and agricultural land to reduce the huge debt the country (1.9 trillion euros).

Silvio Berlusconi said late October that the proceeds from these sales should reach 15 billion over three years.Investors who buy these properties will pay particular debt payday loan lenders.

• Liberalization

Professional bodies will be reformed and abolished minimum rates to inject more competition in the Italian economy.

Local authorities will in turn open the local public services to competition and reduce their participation in the companies running these services (energy, transport, water, waste).

• Pensions

The age of retirement as part of "old age" will increase to 67 in 2026 (against 65 years now) but this does in fact confirm that the effects of reforms already enacted such as providing for the gradual increase age according to life expectancy.

Household consumption, the traditional driver of French growth, declined in September. It fell 0.5% last month, according to figures from INSEE published on Friday, after rising 0.2% in August. Despite this poor performance, the third quarter remains positive consumption rose 0.2% after a particularly bleak picture of the second quarter this indicator fell by 1.9%.

In September, it is the purchase of textile-leather and energy costs which have lowered consumption. These expenditures have dropped respectively by 4.7% and 4% last month, a much greater decline than in previous months. According to INSEE, the position of energy suffered from the decline in spending on petroleum products. During the quarter, energy consumption is still rising sharply (+3 guaranteed cash advance.3%), after falling 2.1% in the second quarter.

On a positive note, the consumption of durable goods, which partly reflects consumer confidence in the future, has rebounded. After falling 0.3% in August, it rose 1.9% last month. The quarter proved generally positive 0.4%, after falling 6.2% in the second quarter. A good number worn by purchasing automobiles (2.8% in September) and household equipment (1.3% in September from 2.7% in August). "During the quarter, automotive expenses are stable after falling 11% in the second quarter, and those in housing equipment rose 0.4%," notes INSEE.

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The Paris Bourse is a timid step forward on Friday. The CAC 40 in advance of 0.70% in early trade at 3,108.55 points. As in Asia, investors should not take risks when to begin a crucial summit on the debt crisis this weekend. Paris and Berlin have announced that Nicolas Sarkozy and Angela Merkel would meet Saturday in Brussels to prepare an "ambitious and comprehensive response" to the crisis. Concrete measures will be considered and discussed before being taken Sunday during a second peak "no later than Wednesday."

It will then not only to agree on how to increase the capacity of the European Financial Stability Fund (EFSF), but also to review the new rescue plan for Greece.Both countries such as requiring "immediate negotiations" engage with the private sector "to reach an agreement to strengthen the sustainability" of the Greek debt.

Risk of falling

But observers note that deep differences persist between France and Germany on how to reform the fund to support the euro area (EFSF). "There is no joint proposal" European at the moment, acknowledged Thursday the German Finance Minister Wolfgang Schäuble. The President of the European Commission Jose Manuel Barroso called on Europeans to "compromise" to reach decisions "resolved" and "immediate."

Another failure could undermine investor confidence definitely in the ability of Europeans to put an end to the debt crisis and put in a difficult position for the G20 summit in early November."If no agreement is reached, a crisis such as that caused by the collapse of Lehman Brothers can not be excluded," noted Phil Flynn of PFG Best Research.

Meanwhile, in Greece, the violent protests anti-austerity continues. A new law has been de rigueur in the Greek Parliament voted Thursday.

The French note monitored

France, in the heart of negotiations on the future of the euro, in turn, is increasingly monitored by rating agencies. After Moody's, S & P raised doubts about the AAA rating of the long-term debt of the Hexagon. The agency suggests a probable degradation of notes France, Spain, Italy, Ireland and Portugal according to economic conditions.

The government is preparing for his part, revising downwards its growth forecast for 2012 still set at 1.75%.Economists on average expect a GDP growth of 0.9% in 2012.

On the currency side, the euro has stabilized at 1.3795 dollar. Oil prices were, themselves, up in early trade Friday morning in Asia, following the announcement of the death of former Libyan leader Muammar Gaddafi payday advance.The barrel of "light sweet crude" for December delivery gained 71 cents to 86.78 dollars on the New York Mercantile Exchange while in London, a barrel of Brent North Sea crude for December delivery was appreciating eight cents to 109.84 dollars on the Intercontinental Exchange (ICE).

Values ​​to follow

Banks

Member States of the European Union agreed Thursday to recapitalize their banks to the tune of 100 billion euros.

Essilor (-0.39% to 50.75 euros)

The world leader in ophthalmic lenses achieved a growth of 6.4% of its sales in the third quarter 2011 to 1.04 billion euros.The group also confirmed its target for 2011 growth of its business "between 6% and 8%" at constant exchange rates and strategic acquisitions, and its goal of stability margin excluding strategic acquisitions.

Safran (-6.90% to 22.47 euros)

The group confirmed its targets for 2011. It aims for 2011 growth of around 6% to 9% of its revenues and 25 to 30% of its operating income. Safran has seen its turnover increase from 5.2% to 2.72 billion euros in third quarter

Valeo (1.61% to 34.16 euros)

The group reported a turnover up 14% in the third quarter to 2.6 billion euros and confirmed its operating margin target for 2011.

Klépierre (1.21% to 21.68 euros)

The group reported a growth of 4.9% of its sales in the third quarter, supported by the increase in rents shopping centers.

France Telecom (0.52% to 12.68 euros)

Orange will acquire 100% of the mobile operator CTC (China Telecom Congo) in the Democratic Republic of Congo, the French group paying $ 10 million (7.3 million) to ZTE for its 51% of CTC and 7 million dollars to the Congolese government for the balance.

Peter and Vanaces (-4.44% to 29.12 euros)

The group reported Thursday a 2010-2011 annual turnover of 1.47 billion euros, up 11.2% on a comparable basis.Solely on the fourth quarter of fiscal year, ended Sept. 30.

Etam Développement (-1.88% to 13.60 euros)

The group released Thursday a quarterly revenue of 269.4 million euros, down 10.7% on a comparbale and constant exchange rates.

OL Group (-0.23% to 4.42 euros)

The group announced Thursday it had reduced its net loss to EUR 28 million for the year ended June 30, against 35.6 million a year ago and have returned to a positive EBITDA (8 , 9 million) "despite a very mixed season in sport."

On May 15 the "outraged" Spaniards camped in the square of Puerta del Sol in Madrid. Borrowing their name to the pamphlet by Stephen Hessel, they said they were inspired by the Arab Spring to shout their rebellion against the explosion of unemployment and austerity policies implemented by the government … Since then, the challenge has been extended in the rest of Europe but also overseas. Five months after the birth of the movement in Spain, in 82 countries is that these "outraged" will show this Saturday, October 15. Zurich to New York, to Rome, Tijuana, Hong Kong and Johannesburg, calls have been launched in 951 cities worldwide.

Their message to politicians and financial elites, as can be read on the site 15october, is: "The powers that be working for the benefit of some ignoring both the will of the majority that the price human and environmental we pay. This intolerable situation has to stop. "On the site of the movement Occupy Wall Street, the tone is the same:" The thing we all have in common is that we are the 99% who will not tolerate any longer the greed and the corruption of the remaining 1%. "In Italy, the program is summarized as follows: "Occupation of public places by millions of people who do not want to pay the enormous economic and social crisis in the place of those who have caused: political power industrial, economic and financial" .

No central authority

This day of action is to cross an important milestone in the movement, which now acquires an international dimension. "It was needed to make weight against the power of financial markets that operate on a global scale," says Sophie Banasiak, "indignant" Paris.

However, there is no central body to coordinate the different actions. "If the collective Democracia Real Ya played a leading role in the initial mobilization in Spain, he does not prevail, either in the capital of the country or world, Heloise said Nez, a sociologist at the University Paris 13.Many groups are working together, but none have hegemony over the movement horizontal and egalitarian aims. There is no visible head and outraged caregivers to regularly change the voice. "

"If someone asks you 'who is behind it', they reply: 'I'" retorted on those who seek the organizers. The spread of a city or country to another must be spontaneous, for emulation. A process greatly facilitated by social networks, where multiple keywords are emerging, such as "yeswecamp", "# yosoy15O", "# event15oct" or "# Globalrevolution" … "I do not even know exactly who launched the idea of ​​the October 15, recognizes Spyros, OccupyLSX supporter of the movement in London.We have seen that call for Saturday and it was inspired by the movement Occupy wall street to do the same thing here. "

Specific demands of each country

If dissatisfied with the world found common denominators, claims and complaints are divided again according to national issues. In Spain, Real Democracia Ya accent has been on the reform of the electoral law to end the two-party system as well as stopping the evictions of indebted owners. In Anglo-Saxon countries, it is mainly finance, pointed as responsible for the crisis, which is targeted. Witness the names of the movements that develop, "Occupy Wall Street" and "Occupy London Stock Exchange (OccupyLSX)." In Israel, the mobilization is the expensive housing while in Italy, the outraged refuse to pay "a debt they have incurred."But all these central issues do not prevent each protester to express other concerns. In Spain some point impunity surrounding crimes of Francoism and the United States is denounced police brutality or the death penalty …

Above all, each city retains its autonomy: information flows globally, but "decisions, they, are taken at meetings in every city, Banasiak said Sophie. Each city chooses its own way of decision. In Paris and Madrid for example, is the consensus. The international dimension does not change the fact that the essence of the movement is local: it is in the physical encounter and dialogue in the streets. "

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The session promises to be rough on the Paris market after the degradation of the note of the Italian debt rating by Standard & Poor's. After closing Monday down 3% below 3000 points to 2940 points, the CAC 40 index started the day down 0.75% before returning to a precarious balance (-0.04% 2938.96 points ). And in the wake of the Nikkei, which finished down 1.61%. Elsewhere in Europe, the Dax in Frankfurt Stock Exchange lost 0.67%, London and Milan 0.72% 1.16%.

The fears of a contagion of debt throughout the euro area after exacerbated to "A/A-1" against "A + / A-1 +" in the night of Monday to Tuesday by Standard & Poor's . The rating agency also maintained a negative outlook on the evolution of the Italian economy and fears of political uncertainty.For the record, the Berlusconi government faces a debt of 1.9 trillion euros, or 120% of its annual GDP. An austerity plan has been adopted by Rome last week, providing 59.8 billion euros in savings with the objective of bringing the budget to balance in 2013. But for now, markets are not convinced.

At the same time the crisis in Greece bogged down. The teleconference scheduled Monday between the Greek Finance Minister Evangelos Venizelos and the three leaders of the troika of the creditors of Greece, which gave birth to a mouse. The meeting, which aimed to reassure the ability of Greece to meet its commitments on reducing deficits, and has resulted in "no official announcement." And, after being delayed, as was held in the evening, while the meeting was initially scheduled earlier this afternoon.These evasions have nothing to reassure the markets, waiting for the release of the next tranche of Athens international loan of 8 billion euros by the end of critical October to break the impasse.

Barack Obama raises his voice

Instead, a new conference of the same type to take place on Tuesday, said the European Commission in a statement. To this must be added the possibility of leaving the euro of Athens as the Greek daily Kathimerini, the Greek government would consider holding a referendum on the continuation of the European currency.To summarize the current concern, Pedro Passos Coelho, Portugal's prime minister, warned in our columns that "if Greece dark, the whole European Union is at risk."

At the European gloom, in addition to lingering fears across the Atlantic, where Barack Obama announced a plan to further reduce the deficit of 3000 billion on Monday, financed half by tax increases for the rich, did not produce any relief. While demonstrating in front of shocked Wall Street against the "greed" of banks, including the U.S. president called the easiest to "pay their share," choosing not to extend beyond the end of 2012 the tax breaks granted to more off by the administration of his predecessor, Republican George W. Bush (800 billion dollars and would be recovered over ten years)."We can not afford these tax rates low for the rich. We can not help us while we are suffering large deficits, "he said.

A meeting of the Fed on rates

On the macroeconomic front, France, received orders worth in the industry in July will be released at noon.

In Germany, the ZEW barometer of confidence the financial community is expected at 11:00.

United States, the housing starts in August will be announced at 14:30. And above all, a meeting of the Monetary Policy Committee of the Fed starts on Tuesday for two days. The U.S. central bank is expected to launch a program to exert downward pressure on interest rates over time. The announcement could calm the markets, especially as the Fed pledged to keep rates low until mid-2013 as a minimum.

On the foreign exchange market, the euro fell against the dollar Tuesday as investors fearing an extension of the debt crisis in the eurozone. In the morning, the euro bought 1.3613 dollars against 1.3692 dollars the night before.

As for oil prices were mixed Tuesday morning in a market still concerned about the debt crisis in Europe after the fall of the note of Italy by Standard and Poor's. In early electronic trading, a barrel of "light sweet crude" for October delivery gave up five cents to 85.65 dollars per barrel of Brent North Sea crude for October delivery gained 48 cents to 109.62 dollars."The downgrade by Standard and Poor's has some worried the markets," said Nick Trevethan, commodities analyst at ANZ Research in Singapore.

Values ​​to follow

• Banking

Societe Generale (-2.43% to 17.26 euros), BNP Paribas (-2.20% to 26.06 euros) and Natixis (-0.99% to 2.30 euros) are again under pressure. Standard & Poor's announced that it lowered a notch credit ratings long and short of unsolicited Italy, while maintaining a negative outlook.Despite his exposure to Greek sovereign debt to the tune of 24 billion euro, the Chairman of the Board of Directors of BNP Paribas, Michel Pebereau said on RTL radio Tuesday that it currently has "no need to be recapitalized."

• PPR (-0.63% to 109.90 euros)

The Group confirmed the abandonment of the auction held to sell Redcats, a subsidiary of distance, a failure that demonstrates the negative impact the financial crisis on mergers and acquisitions transactions.

• Bureau Veritas (1.12% to 54.20 euros)

Bureau Veritas, the world of the inspection and certification, announced Tuesday a target growth of 9% to 12% of its turnover per year, reaching the end of 2015 revenues of approximately 5 billion euros.

• Carrefour (+0.12% at 16.03 euros)

The retailer plans to open within a year a luxury supermarket Place de la Madeleine in Paris (8th arrondissement) of 3500 square meters, La Tribune said Tuesday. The group distribution was confirmed to AFP on the eve "the existence of a project in the district of Madeleine," without specifying the content, however.

• Total (-0.47% to 32 euros)

The oil company is seeking buyers for assets it holds on the British part of the North Sea without being involved in the operations, says Bloomberg. The value of these assets could reach 575 million euros.Total plans to invest in contrast to other sites in the North Sea.

• Zodiac Aerospace (3.37% to 56.75 euros)

The group released an annual turnover in growth and reiterated its goal of profitability for the year, thanks to the resumption of the aviation industry.

• ADP (0.04% to 54.89 euros)

The company announced that traffic was up 1.4% in August compared to the same month last year, 6.1%.

• Manitou (-2.05% to 13.89 euros)

The group announced Monday to be ahead of at least six months of its turnaround plan after publishing financial results up sharply in the first half of 2011.

Veronique Cayla, President of Arte since last January, is working to redress the Franco-German channel.

LE FIGARO. – Are you worried hearings lower than for DTT channels?

Veronique Cayla. – Arte was affected later by the arrival of DTT. It was only in 2009 that the audience began to drop out. Until then, the evening of Arte has remained at around 3% audience share and, earlier this year, we went down to 1.8% and 1.5% in the evening on the entire day. As France 5, the transition to DTT implies, moreover, Arte for the transition to broadcast 24 hours 24. While the chain of France Televisions significantly increased its investment in programs, Arte spent only 5 million per year to its schedule of the day, offering viewers between 5:00 and 7:01 p.m. showcase particularly poor.Most of the budgetary effort focused on the distribution costs which increased by 46% between 2007 and 2011.

Our new contract with the state gives us a public grant of 270 million euros in 2012, an increase of 7.3% over 2011. The entire increase will be allocated to programs. In return, we will, over the next five years to reverse the curve of the hearing and to win back viewers. I believe that today, no historical chain would risk such a commitment!

The group Arte has a budget of more than 400 million euros (250 million for France). Is it normal in view of its audience?

Arte is a chain serving the Franco-German broadcast in both countries and whose mission is to produce works (fiction, documentaries, films, live shows …). Which necessarily more expensive.In addition, because of bilingualism, Arte can not be a TV stream as simultaneous translation is simply unbearable for viewers.

Your audience is close to 60 years. What will you do to rejuvenate?

There is no question of rejuvenating the audience but to expand it. We find in fact that the same programs that are viewed on our antenna by more than 55 years seduce our site arte.tv 40 years. In other words, these are not programs that age the hearing but the media. I hope so much courage to all those whose strategy based on a rejuvenation of their audience on television! With Arte, we believe that if we suffered on TNT, Internet will save us.

As for the grid, we will work by step, our goal this year is the access to work and then we will address the day gradually up towards midday.

What are the developments on the Internet?

Arte has always been way ahead of the Internet, as evidenced also the success of Arte + 7, our catch-up TV, Arte Live Web, our platform for concerts and live performances, and Arte Creative devoted to art. Today, viewers may find this offer via mobile applications. We will amplify this group policy by continuing to create specific content for the Web. The recent history proves audiovisual Arte must not remain isolated but create a "group" around its antenna.We plan to create three other platforms that could be spent, for example, environment, film and history.

In 2012 and 2013, we will focus on the production of hybrid programs that can be broadcast in television and declined at the same time on the Internet. So we will keep our lead on the connected TV is a blessing to us! It will enable us to attract a wider audience in television and offer a more demanding public and sharp versions of these programs, all on the same screen. At the same time, we will work to relinéarisation part of our program digital platforms to allow viewers to create their own channels Web2.0.

Some accuse you of being more a chain of discovery.What do you say?

Given the history of the chain, it was normal to do work of historical reconciliation between our two countries. That's why the story has long been the focus of programming Arte. Today, there is no reason not to add more in this chain. We must look at the world. Otherwise, Arte no sense in relation to public expectations. The discovery programs are quite a place on Arte.

The government has agreed to the lists of tax and those insured are cut. Objectives: flush out the expatriates who continue to use their cards so vital that they should not.

The daily Le Parisien, Aujourd'hui en France, the budget minister, Valérie Pécresse, and Labour Minister Xavier Bertrand has Frédéric Van Roekeghem charge, the Director General of the National Health Insurance Fund to carry out controls and fraudsters continue to strike to pay back their spending by the organization of care during their stay in France. Tens of thousands of people would be concerned, and the damage is estimated at 100 million euros for Social Security.

Unlike employees "detached" who benefit from the social security system because their employers pay charges in France, expatriates contribute to the plan in force in their country of residence or insurance coverage (private or through the body of the French overseas ) paydayloans. In theory, they can no longer be reimbursed by Social Security. In practice many of them are still supported during their stay in France … and benefit for treatment. A questionnaire will be sent to all insured persons suspected of abusing the system.If fraudsters right will be lost for the future, there is little risk, however, that they are forced to repay the sums received on account of the slowness of the proceedings.

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Nintendo continues its rescue plan for the 3DS. After taking action in August at the height of the crisis by drastically reducing the selling price of its new handheld console (169 euros, 249 euros against the launch), the Japanese company Tuesday unveiled a new set of emergency measures the Tokyo Game Show, one of the largest exhibitions devoted to games. With the aim to continue to reassure the players on the future of the console.

To do this, Nintendo has recited his classics. Its leaders have shown that 28 titles will come out soon on 3DS. "Between the end of this year and next year we will offer a range of games it is no exaggeration to describe as unprecedented in the history of video games," welcomed the head of the company, Satoru Iwata. "This announcement reflects our efforts to attract customers," he said.In fact, many games were already known as Super Mario Land and Mario Kart 3D 7, expected by the end of the year. But other Monster Hunter 4, Fire Emblem is actually new. Their release dates in France are not yet known.

The share price halved since January

In making its console more attractive, Nintendo will also improve the material, regular criticism. The 3DS, which was already shooting in 3D, will soon also take videos, thanks to an update of its internal software, while a pink version will complete the range. Furthermore, an extension will be offered from Dec. 10 in Japan to add additional buttons to the console and make travel easier in games in three dimensions.It will be sold in 1500 yen (about 15 euros) and compatible with several titles, including Resident Evil: Revelations, and Metal Gear Solid: Snake Eater 3D.

The stimulus for 3DS have already met with some echoes of the players. In the U.S., sales were up 260% since the price drop the console. They have also tripled in Japan. For now, the new Nintendo announcements have hardly attracted investors. The share price plunged 5% in Tuesday's session at the Tokyo Stock Exchange. Since the beginning of the year, the stock has lost nearly half its value against the backdrop of disappointing results and unfavorable exchange rate.

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