Financial News Headlines

The French Building Federation says the crisis and the austerity measures will be expensive jobs. Last year, the sector had created 9000, after losing 20,000 in 2010. Volume, the activity is expected to fall 1.9% in 2012, after increasing 1.2% in 2011 and fell 3.8% in 2010.

The construction sector is expected to lose 35,000 jobs in 2012 due to financial crisis and austerity, who "broke" the upturn in the sector in 2011, said Tuesday the French Federation of the building FFB. In 2011, the sector had the opposite created 9,000 jobs, after losing 20,000 in 2010, including acting."The crisis of public debt in euro area and fiscal adjustment policies have shattered the movement of bringing economic recovery and still bears a few months, the quantitative improvement of our markets," said the president of the FFB, Didier Ridoret at a press conference.

Volume, the activity is expected to fall 1.9% in 2012, after increasing 1.2% in 2011 and fell 3.8% in 2010, said Didier Ridoret. It is expected to decline in all areas, with a 2.8% decline in new housing, 1% in the nine non-residential housing, and 1.7% improvement in maintenance. While in 2008 and 2009 the use of the building had been "preserved", "dyke will drop" in 2012 with a script "close to that of year 1990, which will permanently affect the production system," warned the FFB.

The British group Centrica Energy Thursday issued a warning on its profits in 2011, with a loss of customers and a decrease in electricity consumption due to the sluggish economy and mild weather.

The operator, whose subsidiary British Gas is the first energy supplier to UK households, lost customers after raising its rates and now provides an annual output "slightly below" market expectations.

An hour after the opening of the London Stock Exchange, the title Centrica lost 1.36%, while the European sector index Utilities 0.5% abandoned.

The Spaniard David Ferrer, seeded No. 3, qualified Saturday for the final of the Shanghai Masters 1000 at the expense of his compatriot Feliciano Lopez, a score of 6-7 (5) 6-3 6-3 .

Ferrer is a first Masters title in 1000, after his failures in the final in Rome in 2010 and in Monte Carlo this year against another of his countrymen, Rafael Nadal, world number one then.

For the title, it will face the winner of Sunday's second semi-final between Britain's Andy Murray, the fourth world and winner of the tournament in Bangkok and Tokyo over the past two weeks, the Japanese Kei Nishikori, who reached for the first time this stage of the competition in an event of this category.

Veolia Environnement has recently sold Eolfi Asset Management, his investment company specializing in the management of funds investing in solar and wind power, reported Monday the newspaper La Tribune.

Eolfi AM was purchased by its president and founder Alain Delsupexhe, which confirmed the operation but refused for now to communicate about the subject, the paper said.

Without specifying the amount of the transaction, a spokesman for Veolia told The Tribune qu'Eolfi, a subsidiary of Services Group had sold property investment company, which manages 113 million euros of assets, seeking Eolfi focus on its core business, the development of wind and solar projects.

No one was immediately available for comment at Veolia.

Stock markets tumbled Thursday, weighed down by the pessimistic picture of the U.S. economy compiled by the Federal Reserve of the United States and the indicator of manufacturing activity in China, which suggests that as the economy slows in the second economy world.

European shares open cuts more than 2% in the wake of Wall Street where the S & P 500 yielded 2.94% Friday. Values ​​related to the economic cycle weigh on the trend with a decline of 4.8% for the European sector of commodities.

In Paris the CAC 40 gave up 2.7% to 9.30. The pan-European FTSEurofirst 300 index lost 2.4%, while the German Dax and London FTSE down 2.8%.

In Tokyo, the Nikkei lost 2.1%.The Shanghai Composite ended down 2.8%, the percentage loss the biggest since seven weeks.

For its part, the dollar rose to a seven-month high against a basket of currencies in favor of expectations of rising interest rates in the short term as part of "Operation Twist" announced by U.S. Federal Reserve.

To come to the aid of an activity in decline, the Fed announced Wednesday it is launching a new program of $ 400 billion to increase the share of long-term securities in its portfolio of assets 2850 billion.

The central bank has warned against downside risks "significant" burden on the U.S. economy and cited "a continued weak market conditions of work".

A Reuters poll conducted after these statements shows that the primary dealers of Treasury estimate that only 15% chance that the Fed's attempt to influence long rates gives a real boost to the U.S. economy.

RISK AVERSION

The trend is also impacted by the announcement of a further contraction in September, the third in a row, the index HSBC Purchasing Managers (PMI) of China's manufacturing sector, a statistic that suggests that China can not be be not be the engine of global growth.

"These data come from China to add to the list of negative factors that everyone has in mind: the U.S. economy depressed the yen's strength against the dollar and the euro, the debt problems in Europe, the question a defect or not Greece, "Judge Koichi Ogawa, portfolio manager at Daiwa SB Investments.

The MSCI equity markets in the Asia-Pacific unscrewed 4.5%, falling to its lowest level in 14 months, while risk aversion is felt in the market for raw materials and the currencies of emerging markets.

The Brazilian real and South African rand recorded their worst daily decline since the bursting of the financial crisis in 2008.

Brent crude gave up 1.71% by 0700 GMT, while December copper fell more than 3% to 8045 dollars tonnes, the lowest since November.

In contrast, the U.S. Treasuries are up, return the paper to 10 years are even fell to a new low of 60 around 1.82%.

The yield securities declined significantly after 30 years the ads from the Fed, to 2.94%, a decrease of 6 basis points (bps) Thursday after falling 22 basis points Wednesday.

In France, just before the market opening, the PMI "flash" in the manufacturing industry has shown that the growth of private sector activity in the Hexagon in September fell to its lowest level since the beginning of the recovery in 2009, accentuated the decline in the industry while expanding services was weakening.

U.S. stocks opened higher Wednesday on hopes of resolving the debt crisis in the euro area.

In early trade, the Dow Jones gained 0.3% or 34 points, to 11,135.74 points, while the Standard & Poor's 500 advanced 0.44% or 5.18 points at 1178.05 and the Nasdaq Composite took 0.8% or 20.43 points to 2552.45 points.

The European Commission will soon propose options for the introduction of euro bonds, confirmed Wednesday the European Commission President José Manuel Barroso.

Values, Dell gained 1.9% after the announcement of a new program to repurchase shares representing five billion dollars.

Goldman Sachs said it had revised down its forecast for U.S. growth for the second quarter, now expects GDP growth of between 1 and 1.5%.

"In light of declining growth data, we lower again our growth forecasts for the second quarter," said Goldman Sachs in a research note.

The U.S. investment bank now expects GDP growth of 1% for the third quarter and 1.5% in the fourth, against a previous forecast of 2%.

"It seems that the U.S. economy, whose growth is already low, is still in decline," said Goldman.

China urged the United States Saturday to face the problem of debt and questioned the status of reserve currency the U.S. dollar.

In a commentary severe your little diplomacy, the official Xinhua news agency expresses the feeling of Beijing after the degradation of AA + sovereign rating of the U.S. Standard & Poor's.

"China, the first creditor of the world's only superpower, is now in its right to require the United States they face the problem of debt and ensure the structural safety of Chinese assets in dollars," Xinhua said.

"There is a need for international monitoring on the issue of the U.S. dollar and a new reserve currency, stable and secure, can also be an option to avoid a disaster to be caused by a single country," said Xinhua.

China suggests that Washington reduce its military and social expenditure.

"The U.S. government must resign himself to a painful state of affairs: the good old days when all he had to borrow to get out of trouble he had himself created is over," writes the news agency.

Direct impact on China's reserves

Chinese economists believe that the deterioration of the American note is a significant risk to financial markets and expect that China, which holds more than 1,000 billion of U.S. debt, accelerate the diversification of its assets.

"It will be chaos on international financial markets at least in the short term. The most direct impact for China of its reservations. The dollar value of investments in China will fall," said Li Jie, director of institute at the Central University of Finance and Economics.

"China will have to consider other investments. The U.S. Treasury is no longer safe.There are the markets for riskier types of assets that (bonds) AAA, but less risky than AA +. China did not think of before but will have to do it, "he adds.

Ding Yifan for, deputy director of a think tank associated with the Chinese State Council, the United States will have to ease monetary policy further, which could go through a third operation 'quantitative easing', consisting for the Reserve Federal to buy treasury bills.

"If the U.S. launches a truly EQ3, it will undoubtedly add to the uncertainty in the global economy and drive up commodity prices," he said.

The cumulative deficit now stands at over-year about 65 billion euros. View of the Port of Marseille

The trade deficit of France fell in June after months of peaks at 5.59 billion euros against 6.41 billion in May, seasonally adjusted data, the Customs said Friday. He, however, dug in the first half, reaching 37.5 billion euros, after 27.6 billion in the second half of 2010, suffering both from the higher import bill for energy and industrial decline in the deficit.

In June, the improvement is due to a "significant decline in imports," including energy products, while at the same time exports remained broadly stable, said the Ministry of Finance on its website.The trade deficit had peaked in April and May, to 6.8 and 6.4 billion euros (revised). The cumulative deficit now stands at over-year about 65 billion euros (up from 52.2 billion for the year 2010).

In June, industrial exports declined slightly pnt: sales growth aeronautical and pharmaceutical does not make quite the folds of those of intermediate goods, automotive, and mechanical and electrical equipment. Imports of energy products (natural hydrocarbons and refined products) decreased, in turn, almost 500 million euros. The decline is similar for transport equipment, due to lower aircraft acquisitions, said Bercy.

The tax involved even banks that are not directly involved in Greece, says the German newspaper Die Welt. Greece in the storm

The governments of 17 countries in the euro area are considering creating a tax credit for involving the private sector to rescue the finances of Greece, says the German newspaper Die Welt to be published Monday, July 18. The tax involved even banks that are "not directly involved in Greece," the newspaper said quoting diplomatic sources and senior involved in the case. Under this scenario, the private banking sector should also "contribute to a purchase of Greek bonds," wrote Die Welt, without detailing what form.

An extraordinary summit of the euro area is expected Thursday, July 21 in Brussels, aiming to complete an urgent new aid plan for Athens.But according to Die Welt, some influential people within the International Monetary Fund (IMF) wants the IMF does not participate in new measures to rescue Greece. "Many people have the IMF in ras-le-bol" and seriously doubted that Greece can carry out and the time-saving measures planned, said European diplomats quoted by the newspaper.

Die Welt, without indicating where does the idea of ​​a tax credit to help Greece, said that Germany will take the fall from a tax on the profits of its banks for a fund that would take into support aid to financial institutions in the country when the next crisis. This tax should bring in less than a billion euros a year to the fund, to be ultimately a volume of 70 billion euros, and in which it is to draw in case of threat of bankruptcy of a bank considered of strategic importance.

Specifically, the country's banks will pay the German government a portion of their profits, a rate applied to the balance sheet total, which were based on the size of the institution and the degree of risk of its activities. Large diversified institutions, like the first German bank Deutsche Bank, will pay more than small savings. The levy will be capped at 20% of net profit.