Sermon of the rating agency Standard & Poor's on the U.S. national debt and lowered polls because of soaring fuel prices: If last week was hard on the economic front for President Barack Obama, one that starts this Monday should not be much brighter. Many statistical publications should confirm that the pulse of the U.S. economy beats slower the last three months.

One of the main events of the week should be the first release on Thursday, the figure of U.S. growth in the first quarter of 2011. Economists are pessimists: the average of their predictions came to a small 1.8% growth in gross domestic product (GDP) over the first three months of the year. Is small compared to the rate of progression of the end of 2010 (+3.1%).

Slowdown in consumption

Involved, "the slowdown in consumption of households" of 4% in late 2010 to 2% in early 2011, according to economists at Credit Agricole. The main engine of U.S. growth suffers from higher prices, primarily of those fuels. A gallon of gasoline has surpassed the symbolic $ 4 in recent weeks. Prolonged depression of non-residential property sector should also stopping growth.

Tuesday's publication of consumer confidence, should give a foretaste of the gloom that gnaws the Americans. Again, "the price of petrol should weigh heavily on consumer confidence which could result in penalizing the outlook for consumer spending, analysts expect the bank Nomura.

Still, "the resumption of the United States is on track," said Jean-Marc Lucas, an economist at BNP Paribas.Certainly, commodity prices will weigh on consumption, but "on the labor market, workers' incomes are starting to take off and the unemployment rate down." Goldman Sachs economists also expect that the expected slowdown in the first quarter is only temporary, due mainly to bad weather. "The situation is more difficult to read than usual (…) but we expect a recovery in the second quarter," they say.

Bernanke speech expected

The U.S. central bank, the Fed, for its part should give some details on its new economic forecast on Wednesday evening. Its chairman, Ben Bernanke, would then launch a new practice, the press conferences. For the sake of transparency and clarity, the Fed follows the lead of the European Central Bank. This latter practice this exercise since its inception.Not sure the words of Ben Bernanke be able to reassure the markets, amid debate about the effectiveness of monetary stimulus. Economists expect at best a status quo growth forecasts of the Fed.

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The specter of 2008, marked by a significant decline in fuel consumption reporting the recession in the industrialized countries, is he trying to re-emerge? The figures for the month of February – during which oil prices have been propelled to the top – will not be released until next week. But signs of a change in driver behavior are already there. These signs, especially those that are full split – or "little full," between 10 and 15 euros – evidenced by several operators. The phenomenon is not new, as noted in Total, but it now tends to intensify. There is also the increased use of carpooling.Frédéric Mazzella, president of covoiturage cash advances pay day loan.fr – the main market player, with some 960,000 members – referred to a traffic increase of 16% over the last three weeks: "Every day, between 60,000 and 80,000 people log on site, with a balanced ratio of about three passengers for a driver. "Frederic Mazzella take the example of a Paris-Lyon motorway, which currently costs about 90 euros (60 euros plus 30 euros for fuel toll): "The driver will be able to recover all variable costs, however, fixed costs, beginning with the depreciation of the vehicle, remain in her care."

Threshold effect

From our Washington correspondent

The Pentagon chose Boeing and EADS not to deliver 179 aircraft-refueling tankers. The European group had, however, in 2008, won the giant contract estimated at $ 35 billion. But Boeing was able to invalidate the win. In a politically charged climate, Boeing had argued errors committed by experts from the U.S. Air Force in the evaluation of their offer."Disappointed and puzzled," according to the terms of Executive Chairman of the European manufacturer, EADS has ten days to enter to turn the U.S. Court of Auditors, which would be a hundred days to decide.

EADS offered to assemble a plant in Alabama, specially built for this purpose, a military version derived from the Airbus A 330.

Boeing wants his side to replace its old KC-135, in operation since 1950, for derivatives of the Boeing aircraft B-767 products in its factories near Seattle. The selection of Boeing will cause a stir in Congress, especially among Republicans from Alabama. Conversely, deputies and senators, anxious to defend Boeing and employment in the United States are met.The contract is more sensitive than the needs of the Air Force is pressing and unlikely to be affected by cuts in appropriations that hit other weapons programs, including those who live Boeing.

Operating Costs

The formula used by the Pentagon to compare the operating costs of both units played a crucial role in the decision. Indeed, the tanker offered by EADS is larger than the unit proposed by Boeing. To compare the two options, experts from the Defense Department have established a mathematical formula that adjusts costs to reflect this difference free instant credit score.

The model incorporates various scenarios of conflicts and situations of refueling more or less far from U.S. bases. It also takes into account the likely increases in fuel during the operating period is 40 years.However, Boeing had long argued that the formula favored EADS. It does not reflect the actual costs of operating the Boeing tanker supposed to be lower.

The manufacturer also claims that EADS is a company illegally subsidized by European states. Moreover, Boeing submitted to the Congress that the U.S. should not rely on a foreign company for a contract as important to national security.

The Pentagon had clearly rejected these objections. On the one hand because the dispute between Boeing and Airbus to the World Trade Organization (WTO) is not resolved, Boeing accused of being eligible for public subsidies. He also believed that competition between the two manufacturers was the ideal way to get the best tanker at the best price.Only against Boeing since Northrop Grumman has renounced his alliance with EADS on this project, the EU has even seen the Pentagon grant it the status of "prime contractor", reserved for the largest U.S. companies weapon. Still, a second phase is planned. The work carried out by EADS is not lost and he could catch up on this occasion

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Great Britain and the Netherlands can expect a new massive rejection. Despite the final adoption by the Icelandic parliament of the agreement on the repayment plan of nearly four billion euros lost in the bankruptcy of Icesave, the Icelandic President Olafur Ragnar Grimsson on Sunday called for a new referendum. The President of Iceland has essentially honorary missions, but has the power to decide to call a referendum … procedure that had already been initiated after the vote by MPs of the previous agreement in early 2010. Icelanders had then decided against, to more than 93%.

"The citizens of Iceland will be asked to vote on a new agreement on Icesave with British and Dutch governments," said Olafur Grimsson who had delighted in March of massive rejection of the previous plan in which he opposed.

Better deal

The new text adopted by the Icelandic parliament last Wednesday, however, is more favorable to Iceland than last year. It provides that Iceland plunged into crisis by the collapse of its banks in late 2008, will spread its payments between July 2016 and 2046, at an interest rate of 3% to EUR 1.3 billion due The Hague and 3.3% for the remainder due in London. Last year, the agreement provided for repayment between 2016 and 2024 only, at an interest rate of 5.5%.

Great Britain and the Netherlands and wanted to show their goodwill in seeking a solution. In a recent survey, the text was approved by 57% of Icelanders.

The Icelandic Prime Minister Johanna Sigurdardottir said she was very "disappointed" by the president's call. "It's disappointing.We anticipated that the president would sign the agreement on Icesave, "she said. "The agreement was approved by a majority in Parliament and this is not common that a president is opposed to an agreement adopted such a majority," she said, adding that there was "little chance that Great Britain and the Netherlands are willing to renegotiate the agreement. " On 10 January 2011, the International Monetary Fund announced it had finally released the fifth installment of its loan to Iceland for a $ 160 million. Disbursement of funds was previously blocked by Icesave.

No date was given for the poll, which according to Prime Minister, should take place "as soon as possible.Maybe in a month. "

(With AFP)

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The bosses have morale, but are somewhat less optimistic in February than in January. The business climate index fell two points on the month at 106 points, according to Insee. A level still above the long-term average (100). The business sentiment remains "somewhat favorable in the retail trade" (105 points), but "hesitant" in the building (99 points), according to the National Institute of Statistics.

"Only the services sector is this month a further improvement in its business climate," says the National Institute of Statistics. In one-point increase every month since December, rising to 104 points in February. Entrepreneurs in the services believe they have created more jobs in recent months and have revised upwards their employment prospects.

In industry, the bosses are somewhat less optimistic than the previous month, the index lost 2 points to 106.The balance of opinion remains "well above its long-term average," said INSEE. "The order books are down overall, while remaining at a proper level, it has been noted. However, manufacturers benefit from strong exports.

This is good news for public finances, although it may complicate the implementation of a reform of the taxation of wealth desired by the government.

The solidarity tax on wealth (ISF) has reported more than expected in 2010: 4.5 billion euros have gone into state coffers last year via the ISF, or 400 million more provided by the supplementary budget adopted at the end of the year, according to figures released Monday morning by Les Echos. It is even a billion euros more first envisioned by the initial budget act. The Budget Department, which for the moment, however, refuses to confirm this figure, announced that it will communicate about it in mid-February.

Revenue higher than pre-crisis

These additional revenue is good news for state finances.They mean that the economy is doing better than expected revenue of the ISF are even now slightly higher than before the crisis. In 2007, the solidarity tax on wealth was reported 4 payday loans direct lenders.42 billion euros, against only 3.59 billion in 2009.

However, the implementation of the reform of the taxation of wealth desired by the government will be more difficult to implement than the ISF is big. As part of this comprehensive reform whose content should be unveiled in late April, Nicolas Sarkozy has announced wanting to amend or eliminate the tax on capital. One of the main ideas is to relieve the upper middle class subject to the ISF due to a housing boom. The abolition of the tax shield, as prescribed by the Head of State, should in turn report that 700 million euros.ISF is returning more money into state coffers over the coming reform could be costly to the taxpayer. Or merely result minor adjustment of the tax on capital.

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Airbus beat Boeing on the line in the battle orders for new planes in 2010, Airbus crossing the symbolic passing of the 10,000 sales with a five-billion dollars spent by the company of Richard Branson, Virgin.

An avalanche of orders received at the last minute allowed the 100% subsidiary of EADS exceed its eternal rival American at the very end of the year, maintaining its number one spot for the third consecutive year in net.

Airbus, which gives its trade performance to a strong market recovery in emerging markets and in the segment of low-cost airline, has reported 644 orders for the last year, totaling more than $ 84 billion ( 63.4 billion euros) at list prices, against 625 units for Boeing. In late November 2010, Airbus was still lagging behind Boeing in the matter.The single month of December was marked by 200 orders for the European manufacturer.

"These figures show that the economic situation is improving. We avoided the specter of a new dive into recession. The civil aviation market has regained growth through Asia, with low cost carriers and emerging markets, "said John Leahy told reporters, commercial director of Airbus. He added: "Oil prices are the only negative point on the horizon."

The figure for 2010 reflects a firm order for 60 A320s at Virgin America, including Richard Branson owns a minority, low-cost airline based in California becoming the first confirmed client version A320NEO supposed to generate fuel savings 15%.

The transaction was finalized at the end of last month and is recorded in the 2010 data.But Airbus and Virgin have preferred to wait for the annual conference of the manufacturer to announce, both symbolically to mark the thousandth order and to put the company on the front of the stage.

Record number of deliveries

Airbus announced last week an order of magnitude potentially historic placed by the Indian airline IndiGo, including on A320neo 150, but the contract has not yet been finalized.

Adjusted for cancellations, total new orders for Airbus aircraft to 574 spring, weighing a total of $ 74 billion (again based on list prices) against 530 for Boeing, which gives the manufacturer a European market share 52% make quick cash.

The two world leaders in civil aviation is currently surfing on a strong wave of orders initiated by the global economic recovery and amplified by the high oil prices, which encourages companies to develop faster than expected new aircraft consume less fuel .

For the eighth consecutive year, Airbus delivered more planes than Boeing in 2010, also crossed the milestone of 500 units for the first time in its history.

Airbus delivered 510 aircraft last year, against 498 last year, nearly 50 aircraft of more than 462 units delivered by Boeing, a figure down 4% compared to 481 by 2009.

Airbus chief Tom Enders said that the total number of deliveries would be increased to 520-530 aircraft this year, adding that total orders for 2011 should be higher than supply, without giving more objective accurate."The year 2010 was above our expectations. We will have a more optimistic assessment of 2011, "he said. Airbus recorded a turnover of "some 30 billion" last year, against 28.067 billion in 2009, sued Tom Enders.

Up to 3,000 hires in 2011

Aircraft manufacturers receive most of the prices of their equipment at the time of delivery, which generally occurs 18 months after taking command, or even later.

The president also said Airbus consider raising the production target to 10 A330/A340 aircraft a month. The demand for the A330 has been boosted by the delay in the Boeing 787 Dreamliner, whose first delivery should be delayed again after an electrical fire occurred on board an aircraft during a flight from test.

The European manufacturer Airbus could hire up to 3,000 people in 2011 in Europe, half in France, to meet increased production rates and ensure the development of new programs, said Monday its leaders . "Given the attrition, which represent about 1,500 people a year, we could achieve a workforce of 54,000 employees at the end of the year," said Thierry Baril, Human Resources Director (HRD) Airbus, in conjunction with the annual conference of trade balance of Airbus in Toulouse.

Soon a European International Monetary Fund? Germany would work to draft new European institution which is much like a regional version of the firefighter world public finances, according to the German daily Sueddeutsche Zeitung. Berlin would like to propose to its partners in the euro area to create a "European Fund for stability, growth and investment," according to a paper cited by the newspaper.

Berlin has denied that this project reflects the government's position. This document was "not subject to ministry officials, nor endorsed by them, and the ideas it contains do not reflect in any way the position of the Ministry of Finance or the federal government," insisted the door Ministry spokesman.Still, the German Minister of Economy, Rainer Bruederle said Thursday in a statement that "the fallback mechanism will exist in the direction of a European Monetary Fund. (…) There must be question of independence, individual responsibility, transparency and foremost the possibility of sanctions for poor performers of the euro. "

Informal meeting

On Thursday, Finance Minister Christine Lagarde will meet informally in the early afternoon near Strasbourg with his German counterpart Woflgang Schäuble, who is on vacation. "The EU should not only look at the budgets, but also monitor how economies grow," said Christine Lagarde at the Sueddeutsche Zeitung, and reiterated its preference for a European economic government."We're at a stage (of European negotiations, Ed), where each country sets its vision on the table," says one at Bercy, "and there's currently nothing specific."

According to the draft released by the Sueddeutsche Zeitung, the struggling states could use the funds to refinance their debt in case of emergency. "No limit" amount. Counterparties would be severe: the beleaguered government should provide guarantees in exchange as reserves in gold or shares in public companies. This institution would take its place alongside the European Central Bank. Like the latter, it would be politically independent. This project serves as an alternative to European bonds in particular championed by Luxembourg and Italy, but which Germany and France opposed.

"The German interest for stability"

He is "in the national interest" of Germany that the euro area to be consolidated "with all its Member States, it is explained in the paper cited by the Sueddeutsche Zeitung. Monetary union is clearly oriented towards the "German interest for stability," is said. This is the "consideration" for Germany to play its role of "anchor stabilizer" within the zone.

Rainer Bruederle is skeptical about him. "Such a European economic government is not the right project. Whoever currently looking for a European economic government is working on a bad site, "he said bluntly. Finance ministers from the euro zone must meet in January. The markets were disappointed by the meager results at the last meeting of the Eurogroup, in mid-December.

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The Hospital Federation of France (FHF) is sounding the alarm. In an internal memo published by the Journal du Dimanche on Saturday, the FHF warns against the privatization of the retirement homes in France. "Since 2002, the public has lost 5% market share in favor of private business. Between 2003 and 2007, 61% of places for addicts were created by private developers, "says she.

A development which, according to the federation, more expensive trips to the dependents or family. For the day in a private school is on average 40% more expensive than public ones. "These creations of seats facing the problem of affordability for seniors," said the federation.A pitfall in size, at a time when the issue of financing dependence, declared government priority, invited in the public debate. The challenge posed by an aging population is not small scale at the individual level: according to a report by the General Inspectorate of Social Affairs (IGAS), placement in nursing home costs an average of 2200 euros per month to the elderly care bad credit payday advance… when the average level of pensions of retirees amounted to only 1,200 euros monthly.

FHF, meanwhile, also complained of seeing some public institutions losing resources needed for their operation, on behalf of a "convergence rate" desired by the government.For if the original purpose of this convergence is to rebalance resources between financial institutions richest and poorest, the FHF emphasizes that even the best equipped centers no longer have sufficient resources today to address the Patients increasingly dependent. "Convergence, if continued, would result in the elimination of 5,000 jobs in Ehpad (Establishment of accommodation for frail elderly) and 7000 units in long-term care," said the FHF in the report published by the JDD.

The consultation on the financing of the dependency must start in early January. The first steps, they are expected in summer 2011.

Back in Exchange for General Motors succeeded! Three weeks after AIA and its more than 20.51 billion dollars raised in Hong Kong, General Motors announced that its IPO will be the largest in history. And even the world if the over-allotment option is exercised. At the close of trading in New York, the share grew from 3.6% to 34.19 dollars after surging more than 7.7% in early trade.

The U.S. manufacturer has offered for sale 478 million shares (against 365 million previously proposed at a price between 26 and 29 dollars), at a price of 33 dollars cash advance no faxing.Total supply will be $ 20.1 billion or 23.1 billion dollars if the over-allotment option, that is to say, any emissions of additional shares in the event of high demand, are fully exercised.

That General Motors will do better than Visa in 2008, had raised $ 19.7 billion, including over-allotment option. "Raising prices is a sign of a vote of confidence in the company and the action they propose," said Michelle Krebs, an analyst Edmunds.Com.