It's official: the economy in the euro zone will be better than expected. The European Central Bank has acknowledged Thursday by raising its growth forecast for 2010 and 2011. According to new figures, the business would grow in 2010 in a range between 1.4 and 1.8% from 0.7% to 1.3% estimated earlier. By 2011, growth would be between 0.5% and 2.3%, against +0.2% +2.2% previously.

"The range of real GDP growth this year has been revised upward due to stronger than expected rebound in economic growth in the second quarter and better than expected trends observed during the months of summer," explained the ECB president, Jean-Claude Trichet."For 2011, the band has also been revised up to reflect mainly the lingering effects of the stronger growth expected in late 2010."

Uncertainty

Despite these upward revisions, "uncertainty continues to prevail," said Jean-Claude Trichet nuanced. On the other hand, "the resumption of activity should be constrained by the process of balance sheet adjustments in various sectors and the prospects of the labor market."

Especially, the growth differentials are widening between the different countries of the eurozone, economists noted. When Germany led the run with 2.2% growth in the second quarter, Greece sinking into recession with a decline of 1.5% of GDP. Same trend for national unemployment rates. In these circumstances, the ECB's strategy looks complicated.

This is not a problem, "replied Jean-Claude Trichet: the Fed, the U.S., is in the same position for decades with 50 states. "Over the past decade, the lowest growth of a U.S. state was 0.9% (Ohio) and the highest 4.7% (Arizona). We observed the same discrepancy in the euro area over the same period, "argued the president of the ECB. Same thing for the unemployment rates have spread from 3.5% to 14% depending on the states. Again, we found the same range in the Eurozone. "

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The cloud computing continues to attract IT companies. A week after Dell announced it planned to buy the company for data storage, 3PAR, his rival, Hewlett-Packard (HP), outbid on Monday on supply Dell. HP has made an offer of 1.6 billion dollars (1.2 billion euros), against 1.15 billion dollars (894 million euros) for Dell. The proposed transaction represented by Dell when it announces a 87% premium over the closing price of 3PAR. An advertisement that has boosted the share 3PAR over 40% to 25.35 dollars in a market up 0.27%.And while, to 3:35 p.m., Hewlett-Packard lost 0.13% to 39.80 dollars.

Transaction close by the end of the year

HP recently rocked by the resignation of its CEO Mark Hurd in early August, said that the board had approved the transaction faxless payday advance. The closure of the transaction is expected before the end of the year, the company said.

This acquisition would allow the IT group to extend its range of storage products for the cloud computing (cloud computing) and to support its service activities, like other industry heavyweights like IBM, they which tend to generate higher gross margins than sales of computers.

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The Paris Bourse ended the session on Monday in the green: +0.8% to 3635.86 points after having doubted almost the entire session. The CAC 40 was indeed long hesitation on the way forward following the release Friday of "stress tests" conducted on 91 European banks and published Friday after the stock market. Only seven institutions have failed, which means a respectable success rate of 92%. However, 17 banks post notes just averages. What a cool little enthusiasm.

Finally, Paris has chosen the rise. Like Wall Street, Friday, which had been optimistic, although Asian markets were more hesitant.

No macroeconomic indicator was expected in Europe.But the United States, sales of new houses in the U.S. rebounded more than expected in June, from 23.6% in May after hitting their lowest level since 1963 at least, but still extremely low, according to official figures released Monday in Washington. The news bolstered Wall Street upwards.

As for currencies, the euro climbed slightly against the dollar: + 0.53% to 1.2980 dollar.

Featured Banks

Who says interpretation of "stress tests", said reaction of the banking sector. At the Paris Bourse, the French banks took off and pulled the score up: +7.75% Dexia, 5.24% for Societe Generale, 3.12% for Credit Agricole, 2.37% for BNP Paribas and 1.91% for Axa.For the Minister of Economy Christine Lagarde, have no fear: French banks have succeeded in "this difficult test with flying colors, with honors.

The car values have also boosted the index: 1.65% for Peugeot, 1.58% and 1.28% for Michelin for Renault.

In red lantern ACC, a troucve STMicroelectronics: 2.34% to 6.34 euros.

Sanofi-Aventis lowered its earnings forecast for 2010

Sanofi Aventis (+0.16% to € 45.58) announced Friday that the first generic version of the anticoagulant Lovenox has been approved by the Food and Drug Administration (FDA). The supply of the generic, marketed by Sandoz in association with the American company Momenta began in the wake of the approval by the FDA.The news had tumbled 4.25% securities at the close Friday because the Lovenox was the second top-selling drug from Sanofi last year. In a statement, Sanofi-Aventis recalls his "reservations" about the approval by the FDA in regard to "patient safety".

The pharmaceutical group revises accordingly its earnings forecast downward, with "an evolution of the EPS of activities for 2010 of between 0% and -4% compared to 2009 at constant exchange rates. A turnaround from last April when Sanofi evoked a growth in earnings per share from between 2% and 5%.In addition, Sanofi would have views of the U.S. biotech Genzyme after the Wall Street Journal.

Fimalac (0.95% to 31.29 euros) on Friday issued after the market closes up its turnover by 6.9% to 443.2 million euros in the first nine months of its 2009-2010 ended September 30.

April Group (1.73%) and Faiveley (-0.29%) publish their turnover in the first half after the stock market. Icade (1.84%) and Klépierre (+0.6%) at the same time unveil their interim results.

… No need to tape to deal with the default antenna of the iPhone 4. Apple has another solution. His boss, Steve Jobs, under fire from critics, spoke Friday night from Cupertino, California to restore the credibility of the company. To begin, he conceded that his group was "not perfect". He then unveiled the solution to solve the problem of signal loss when the hand covers the bottom left of the iPhone. The solution? A simple plastic case and rubber will be offered to owners of Apple's new smartphone. Better, this case, which costs $ 29 in trade, will be refunded to those that have already bought one. And if all this were not enough for dissatisfied customers, they could also make their free iPhone 4 in stores.

If customers are reassured, investors too. The Apple stock has returned to the green.For financiers feared that Apple chooses instead to conduct a recall of 3,000,000 iPhones already sold since the launch on June 24 It must be said that such an option would cost around 1.5 billion dollars to the firm at the apple instead of 45 million cases for the "magic".

Verdict reassuring

The American magazine Consumer Product tested the case in question this week in the laboratory and concluded that this solution was acceptable. The "bible" of consumers who had inflicted the fatal blow to Apple last Monday discouraging consumers to buy the iPhone 4, returned a verdict for Apple reassuring."When we gave the case and put our finger on the rubber part where it covers the gap (problem), resulting in a significant loss of reception, so small as to have no effect on the receipt, "says the magazine.

The New York Times suggests that it is not a simple problem of antenna and metal frame, but communication software. Citing an unnamed source familiar with the matter, the newspaper said that the iPhone has four public discovers a defect inherent in all of its predecessors."The problems occurred in the complex interplay between communications software and antenna," the source said, adding that it could be solved with a software update and that Steve Jobs was not aware of this problem before the launch of the device in late June.

Reputation tarnished

This failure has nothing to do with the error display signal reception originally put forward by Apple as the cause of the problem of the antenna and set this week.

Still, the reputation of Apple and its founder is seriously tarnished by this affair. Especially since Steve Jobs, who initially denied the failure of his latest "toy" had long been aware of the situation but have decided to ignore the recommendations of its engineers, as he liked the new design, according to Bloomberg . What the person denies.Sin of pride? Consumers expecting at least Friday a little humility on his part.

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"The iPhone 4 bench

L'Oreal wins year after year market share in China. Under the name "The Or Yia" (Beauty of Europe), L'Oréal remains behind his rival Procter & Gamble that market estimated at nearly 100 billion yuan (12 billion euros) since it holds just less than 12% of total sales in 2009, against 19% for the U.S.. The attack strategy of L'Oreal to settle as a leader in China seems not only feasible, but it also promises to bring much to the French group.

L'Oreal, which sponsors the World Expo in Shanghai, will provide 20% more revenue in the country this year, one billion euros. This is what Paolo Gasparrini, the boss of China said on Tuesday there.In 2009, sales have climbed 25% on a comparable basis (862 million euros) in China, making the country the fifth largest market growth in its insolent.

"We expect 650 million new customers in the Asia-Pacific, with half in China," says the director of L'Oreal in China to Echos.

The men discover cosmetics

According to the Financial Times, the products of Skincare for Men Rise particularly in China sales rose 27% in one year and in 2009 the rate reached 40% since the beginning of 2010 overnight pay day loans. That's five times more than the same products for women.

Improve the look for men is to give more chances to marry, the newspaper said. In general, the physical is very important in China.Traditionally, women were preparing their own products for skin with water such as rice. "A person picks up pretty easily for a job or a good partner," says Lin Xinrong, Chief of Research & Development of skin care in Shanghai, quoted by the newspaper.

L'Oreal has understood that its Chinese customers is unusual. Therefore 80-85% of L'Oreal cosmetics products are specifically developed for this destination.

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"The government is out of the woods", as Le Parisien, Aujourd'hui en France on Saturday. According to the newspaper, Eric Woerth, Minister of Labour, is about to finalize the report of government policy on pension reform. A "document of step" with a score of pages should be sent to unions and employers late Sunday afternoon, within the time allowed by Nicolas Sarkozy.

The president had asked last Monday, his Minister of Labour announcing the broad principles of pension reform "early next week." A complete overhaul of the system seems already excluded. "If many doors remain open, one or two tracks will be closed by some claimed," confirmed the Ministry of Labour today in Paris, France.

Employment of older people will be at the heart of the reform, the newspaper said.The Government would consider special measures "in human resources and working conditions" to ensure increased employment rate of older workers. Longer working hours and thus, delaying the age of retirement seem to have largely favored the government.

Especially in its latest report released Tuesday, the Board of Retirement Guidance (NRC) has evaluated several scenarios to fill the "hole" of pension funds, which should reach 30 billion euros in 2010. All sought to delay the moment of retirement.

Operate the lever tax

Another sensitive issue for the unions, the contribution period required for a full pension should be extended. In return, Eric Woerth has recently influenced his opposition to tax the lever to secure "additional revenue".Raising the CSG on capital income and savings, increased levy on high income … Several ideas are in the process of arbitration, as the Journal du Dimanche.

Eric Woerth will begin next Tuesday a new series of meetings with leaders of trade union confederations and employers' organizations. Last April, they unveiled a ambitious reform agenda: first tracks in May, major decisions in June, Council of Ministers in July, and passage in Parliament in September.

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The U.S. stock market should resume a little high on Monday. The index futures are predicting a slightly higher opening of U.S. markets. The index futures Standard & Poor's 500 and Nasdaq 100 advance respectively from 0.20% to 1 185.80 points and 0.25% to 2003.80 points. Friday, Wall Street finished the week sharply down. The Dow Jones and Nasdaq had lost 1.42%, respectively and 2.02%.

Friday, financial stocks have been penalized by the judicial proceedings against Goldman Sachs. The action of the merchant bank has plunged nearly 10% Friday it swept away its main competitors.For his part, the technology sector has suffered from disappointing results of the McAfee antivirus editor (- 12.1%) and manufacturer of components for computer chips MEMC Electronic Materials (- 18.6%).

From the values listed today, Continental Airlines and United Airlines have announced their merger by exchange of shares. The two brands will be retained but the company will be the first on American soil with 21% against 20% of lines for Delta.

Most companies (62%) of the Standard & Poor's 500 have now published their results. And the ads businesses emerge well above expectations. Over 80% of companies have announced earnings per share higher than the consensus and 73% of sales above expectations.

This week and major publications are rare.Note, however, Pfizer will announce its quarterly accounts tomorrow, CBS and Time Warner on Wednesday, Kraft Foods and Sara Lee on Thursday and Friday FC Industry.

The eyes of investors will focus on the macroeconomic indicators. The ISM surveys today and Wednesday and those on the job Friday will be the leading indicators of the week. Today on Wall Street, investors will also monitor expenditures and household incomes in April construction spending in March and sales of automotive sector in April in the afternoon.

On the foreign exchange market, the euro lost some ground against the greenback, but morning but remained above the threshold of $ 1.32, despite concerns expressed by operators on the obstacles that may still arise before the bailout 110 billion euro budget of Greece.

LE FIGARO. – Activation Plan aid to Greece Will there be enough to reassure the markets?

BART VAN ARK. – Nothing is less certain. If using the rescue plan EU-IMF had become inevitable due to the rates imposed by markets, one plan will not help. It will take others. Because Greece can not simply put in order its public finances. She will have to undertake structural reforms, which, by definition, are long and painful. It must focus on its productivity, decreased significantly, and quickly find a way to create jobs.

Before release the money, should there be a new dose of austerity in Greece?

To have a chance to be swallowed, the pill should not be too bitter. If you cut too much spending, it will exacerbate the risk of recession.At the same time, Greece has to reassure the markets over the medium and long term, by engaging in a meaningful and specific reforms. It is not shocking to ask Greece for new safeguards.

The risk of contagion to other European countries there in recent days?

I do not think. Markets are well sorted. Portugal and Spain are in very different situations of Greece. Although Portugal has a similar financial problem and a serious deficit of structural reforms, the situation is less dramatic than that of Greece paydayloans. As for Spain, much larger economy, it began structural reforms, and its banking sector is stronger.

The cohesion of the euro area is at risk?

I do not think so.The eurozone saw, for sure, his first financial and economic crisis. But this is not the end of the Euro! This crisis, which I find exciting force, in contrast, Euroland more economic integration. Europe must urgently address this need for economic integration. There is no other way. The hypothesis of a breakdown of the euro area is not realistic to my eyes.

More integration, it means there a belt tightening for everybody?

In the short term it seems inevitable. Public deficits rise between 5% and 10% of GDP. They strike even the most virtuous countries such as Germany, which will perhaps five years to return to fiscal sanity. The euro area has become credible.In the medium term, more integration, it means more responsibility for each other in their economic policy.

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Not seen since the launch of the classification in 1985! For the first time in 2008, BAE Systems, an advocacy group for non-American, became the leading supplier of arms. The information, published Monday, comes from the International Institute for Peace Research (SIPRI), a Swedish think tank considered a reference material.

According to SIPRI, BAE Systems has been leading the 100 largest arms suppliers in favor of the U.S. market. "The company is based in the UK but generates more than half its sales in the United States. BAE demonstrates the internationalization of the arms industry and the strong appeal of the U.S. market, "says Susan Jackson, an expert of SIPRI.

Sales of BAE established in 2008 to $ 32.4 billion.The bulk of these revenues came from a command of the U.S. Department of Defence who bought vehicles MRAP (Mine Resistant Ambush Protected) as part of the war in Afghanistan and Iraq.

Boeing beat, Navistar enters

BAE Systems therefore delighted number one place to Boeing. The American group, with 29.2 billion worth of arms sales, slipped to third place, and is placed behind his compatriot Lockheed Martin (29.4 billion).

Elsewhere in the rankings after three American groups, Northrup Grumman, General Dynamics and Raytheon low fee pay day loans. EADS is in seventh place. Italian Finmeccanica is eighth, while the French Thales is tenth.

Almaz-Antei, is the first Russian company to make its entry in the top 20 at the eighteenth spot.With 4.3 billion turnover in 2008, "Almaz-Antei has tripled its sales since 2003," says the SIPRI.

For its part, the American Navistar made a sensational debut in twentieth place with 3.9 billion in revenue from sales to the U.S. Department of Defense. "This represents an increase of 960% compared to 2007," says the think tank.

Three times the development assistance

The SIPRI does not fail to note that in 2008 the 100 largest arms suppliers have made 385 billion dollars in revenue, a figure rising to 39 billion by 2007."This represents more than three times the total development assistance of OECD countries (120 billion dollars)," lamented the SIPRI.

According to the findings of the ranking, sales of BAE are equivalent to the GDP of 105 countries worldwide, while Lockheed Martin exceed 4 billion development aid from the United States.

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"Meeting in prison with the" merchant of death "

The French do not really feel the first effects of the recovery. Nearly 43% of them believe the situation will not improve in the short term, against 53% more optimistic, according to an Ipsos Direct Insurance. The 18-34 years are more positive, being 60% believe in a short-term improvement of the economy.

In contrast, the 35-59 years are 49% to fear for the future economic situation. Pessimism contrasts with predictions of positive growth, the government is relying on such an increase of 1.4% of GDP in 2010. It seems that the fear of unemployment prevails in this population group. They are right: the unemployment rate, currently at 9.1% should exceed 10% according to the OECD.

A large majority (69%) French also fear a rise in prices. Again, they are too pessimistic.Economists Natixis, inflation should not exceed 1.2% in 2010, a fairly low level. INSEE table involved a decline in inflation "underlying", that is to say outside energy prices, to 0.9% in July 2010 against 1.8% in October 2009 .

Eight out of ten people expect further increases in oil prices advance payday lenders . Again, the French would they be worried too? INSEE expects a stable price per barrel to around $ 80 by mid-2010. But the National Institute of Statistics warns that still considerable uncertainty surrounding its estimates, the market of black gold is very volatile.

According to the Ipsos survey, these pessimistic expectations should lead the French champions of saving, save more.Nearly 65% of respondents believe that the crisis will encourage them to save even more. On this point, they agree with the experts. The INSEE estimates that savings will remain at a high level (16.6%) in the first half of 2010, having broken records in 2009.

Latest cares, but not least, the French: the future of pensions. They are 90% believed that "concern about changes in the level of pensions in the years to come is a sense justified. Negotiations on the future of the pension system, initiated by the government this year, will soon fix the issue.