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. "

The best way to check out the lowest prices you can possibly get on low cost car insurance is to look it up online via a comparison engine.

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.

ALSO READ:

"Technology stocks are financially healthy"

The Paris Bourse tries on Monday to continue its momentum from Friday and thus began the session in the green. The CAC 40 gained 0.43% at the opening at 3362.72 points. At the end of last week, the CAC 40 finished on a small increase of 0.25% after a volatile trading. All investors anxiously awaiting the monthly figures for U.S. employment, which were more troubling than expected 125,000 jobs lost in June but 83,000 in private creations against 33,000 in May, and unemployment fell to 9.5%. The U.S. markets have fallen back slightly after the announcement, but their European counterparts have remained on the upside.

The CAC 40 lost 5%, however the last five days and will therefore try to regain lost ground this week. Investors can not follow Wall Street Monday as the U.S. stock market is closed after the national holiday.On the side indicators in France, the PMI services will be published. For the euro zone composite PMI index, and the sales details will also be announced.

Elsewhere in Europe, also dominates the green. The London Stock Exchange opened up 0.45% to 4859.98 points, while the German Dax climbed 0.34% to 5853.75 points.

The banking supervision

Dexia (0.61% to 2.81 euros) received the assumptions of Stress tests requested by the European Union on the eve of the weekend and is currently being examined, according to chief executive of French bank Belgian-Pierre Mariani.

BNP Paribas (0.70% to 44.51 euros) has sold its subsidiary of consumer credit BNP Paribas Personal Finance Belgium funds Apax Partners SA and Altamir Amboise.The sale is part of BNP Paribas commitments towards the European Commission following the acquisition of Fortis in Belgium in 2009 free credit score.

Zodiac Aerospace (+0.48% at 37.67 euros) has agreed to buy German Sell. It is the third acquisition transaction in two months for the group led by Olivier Zarrouati.

Carrefour (1.23% to 32.53 euros) will close unprofitable stores sixteen in Belgium at the end of the month as part of the restructuring of its assets in the country, while strengthening its partnership with Mestdagh. The group expects these closures savings of about 25 million euros per year.

Air France KLM (0.64% at 9.66 euros) will face a new competitor on the field connections to Africa. The Airline Oxygen Africa should get the green light for launch in the coming weeks.

France Telecom (0.28% to 14.24 euros) must submit to the press, about 11 o'clock this morning, its strategic plan for the next five years. He wants to have more than 300 million customers worldwide by 2015 against about 200 million today, "said Stéphane Richard, CEO of telecoms group, in an interview published in Le Parisien on Monday.

Total (0.01% to 36.19 euros) does not study the acquisition of BP, but would be willing to consider the acquisition of certain assets if they were on sale, said Friday the CEO Christophe de Margerie.

PSA Peugeot Citroen (0.84% to 21.05 euros) announced it acquired for an amount of 244,925,000 euros, part of the bond issued in 2001 and maturing in September 2011.The takeover was launched June 21, 2010 simultaneously launching the bond issue of 500 million euros due five years.

This Wednesday should be placed under the sign of the decline in Paris at the opening, while the CAC 40 seems to stand at ambient breathlessness on exchanges. The leading index has managed to maintain the 3,700 points on Tuesday night, but in the early exchanges, the threshold should not take.

In Europe, stock markets have made concessions on Tuesday after nine sessions chained up on. Announcing the easing of exchange rate policy of China, made Saturday, had pushed world stock markets Monday. The first steps in this direction have been given yesterday and Wednesday, with two cuts in a row the central rate against the dollar. But in exchange, the effect was short-lived. And on Wall Street, poor statistics on the front of the immmobilier has cast a chill on the market.So, this morning, the main financial centers of the Asia-Pacific are following suit.

At around 7:30 on Wednesday, the euro is at equilibrium after fell Tuesday. This rating 1.2270 dollar.

Economic News Authority

In France, on Wednesday will release at 8:45 INSEE's monthly surveys of important conditions in the industry, in construction and retail trade for the month of June as well as indicators of business climate and economic downturn. At noon, the Court of Auditors present its report on the situation and prospects of public finances.

In Germany, the GfK consumer barometer, always watched closely, will be visible at 8:10.

In the euro area, the first estimate of the PMI will be unveiled at 10:00.

And the United States, 16 hours, will be made public promises of home sales for the month of May, after a bad real estate statistics published in the ninth Tuesday: – 2.2% in volume last month, to 5.66 million units annualized.

The traditional weekly crude inventories will be available at 16:30.

Finally, this evening after 20 hours, the Monetary Policy Committee of the Fed will issue its statement.Highly regarded by investors, note any change in the discourse of the Federal Reserve.

The rate strategists believe that Societe Generale U.S. Federal Reserve will raise its rates faster and stronger than expected by the market and call for caution on U.S. government bonds.

Societe Generale wants to Kerviel lost 4.9 billion

Societe Generale will call Wednesday Kerviel just 4.9 billion euros in damages, a record amount corresponding to the loss she attributes to "fraud" of its former trader. Yesterday, the former CEO of Societe Generale, Daniel Bouton, has admitted "failures in the control of the bank during his testimony before the Tribunal of Paris.

L'Oreal Paul Bulcke, Nestlé CEO, said in an interview with Reuters that his group had no plans to change the status quo in the capital of the world's number one cosmetics line with the Pact of shareholders that binds to the Bettencourt family.

Alstom Alstom and Areva does not want to marry with Areva. "To dance the tango, it takes two. Areva does not really want to dance. We no longer so eager to dance ourselves, "Patrick said Tuesday Kron, Alstom's Chairman, at the general meeting of shareholders.

Total Total and oil stocks are worthy of attention.The International Atomic Energy Agency (IEA) publishes 10:30 prospects of markets for oil and gas.

ArcelorMittal the world's number one steel company, announced Tuesday that the apparent demand and actual demand for steel would remain positive in the second half of the year, even if they should show a slowdown during this period. Lakshmi Mittal, the CEO that the slowdown in demand was due to seasonal reasons. The boss also said he did not think the steel industry return to its pre-crisis level until 2012.

Insurance Axa, CNP, Scor … : Values of insurance will also be regarded as the French Federation of Insurance Companies (FFSA) releases on the market situation and its prospects.

Banks The banking sector remains to be monitored throughout the session. On Tuesday, he suffered a spate of bad news.In addition to degradation of the note in the long-term debt, BNP Paribas, Credit Agricole said the cost of risk on its Greek subsidiary Emporiki would weigh 450 million euros more than expected. The BNP Paribas has yielded 1.92% and that of Crédit Agricole SA 4.69%.

Discussions on a tax credit and tighter prudential rules also weighed.

The Renault-Nissan automaker Nissan CEO Carlos Ghosn, said he received 890 million yen (8 million euros at current exchange rates) for 2009-2010, making him one of best paid bosses in Japan. Carlos Ghosn made the announcement at the annual general meeting of shareholders of the Japanese group, held Wednesday in Yokohama (Tokyo area).This does not include fees paid 1.24 million euros in 2009 he has received as CEO of the automaker Renault, Nissan's largest shareholder with 45.7% of the securities.

Peugeot Peugeot Italy said Tuesday it has signed an agreement with Sorgenia first private operator in the Italian electricity market created and controlled by Rodolfo De Benedetti, for the launch of its Ion Electric Vehicle in Italy.

France Telecom, the company announced Tuesday it would invest about 515 million euros over the next five years in its network in Switzerland a few weeks after abandoning its planned merger with Sunrise, blocked by the competition authority of the country .

The Sony Ericsson Yendo

The government wants more than ever, give pledges of seriousness on the issue of deficits. On 20 May the Head of State had announced its intention to amend the constitution so that every elected Government embarks on a path of structural balance is imperative, as well as on the date on which the balance of government finances public must be reached.

Without waiting for the amendment of the constitution, Francois Fillon took the lead. In a letter that the Prime Minister has just sent to members of government, he asks them to "stop inserting provisions that affect tax revenues or social security in ordinary legislation.A real revolution!

For material already deposited and bills not yet been discussed, the prime minister asked his ministers "to submit amendments for the deletion of such provisions and to oppose a negative opinion of the Government any amendment which would tend to introduce. Members of the government "shall not in any way rely on the wisdom of Parliament," wrote François Fillon.

Fillon finally asks ministers to screening assessments for all tax provisions that they want to introduce the draft budget law or draft law on financing social security. All this will lead ultimately to limit the creation of new tax loopholes

Meeting in Brussels, the Heads of States of the euro area have finally approved the activation of the financial assistance plan 110 billion euros to Greece three years. Moreover, on a French initiative, they announced the establishment of "a Community mechanism to intervene" to help their country would face financial difficulties and this, in order to preserve financial stability in Europe. More specifically, it would be a fund to help countries threatened to defend the euro.

According to government sources, the European Commission could contribute in the form of loans to the tune of 70 billion euros. The European Central Bank (ECB) will also participate. "All institutions are determined to act," said Nicolas Sarkozy simply at the press conference that followed the discussions."We will not let destabilize the euro zone for behind, there is the growth of European jobs," he said.

The Heads of State and Government decided to convene a meeting Sunday of finance ministers across the European Union to finalize the operation and financing of this novel device, which forevermore assembly developed for Greece . "On Monday, the mechanism will be operational," said Nicolas Sarkozy, sending a signal to markets still very upset.

"We will do whatever it takes to defend the euro," piped up the European Commission President Jose Manuel Barroso.

Pressure on ECB

The other track would be mentioned that the ECB buys bonds issued by states of the euro area, to provide them in exchange for cash.According to the same diplomatic sources, the European Commission would now pressure on the ECB to make sense in a concrete proposal to support the euro area. In their draft agreement, the leaders of the Eurogroup, however, have said they support "full action of the ECB to ensure the stability of the euro area.

Monday, lcette last announced it would accept the Greek debt as collateral for its loans, regardless of their credit ratings. Extending this unprecedented step for all countries in the euro area "would be a strong signal to markets" would have said the president of the European Commission Jose Manuel Barroso. But on Thursday, the ECB said it had not considered.

At the meeting this Friday, the president of the European Central Bank, Jean-Claude Trichet, have estimated that the eurozone faced a "systemic crisis".

Tighten fiscal discipline

The euro zone leaders agree at least on the need to tighten fiscal discipline. A commitment to ensure that "Greece is not only to reduce its deficits, but that we work so that all the Stability and Growth speedy again respected," said German Chancellor Angela Merkel in Brussels. "The leaders will do whatever it takes to meet budgetary targets," says the text of the draft agreement. A penalty system "more efficient" will be established.The European Council President, Herman Van Rompuy, reported that an agreement between heads of state had been reached for "a strengthening of economic surveillance and policy coordination."

Finally the sixteen Heads of State and Government reiterated their determination to "move quickly on the regulation and supervision of financial markets. They also insist on the creation of "a European rating agency.

Barack Obama supports the EU

Moreover, since the White House is that Barack Obama supported the European heads of state on Friday. "I made it clear that the United States supports these efforts and will continue to cooperate with EU authorities and the IMF during this critical period," he said, after talks with Angela Merkel.

American concerns grew at the same time as the market stress. Wednesday, Charles Plosser, a leader of the U.S. central bank (Fed) has assured that "the economic recovery of the U.S. could be delayed by a further turmoil in financial markets. Recent events in Greece are one of the factors likely to influence the evolution of the U.S. economy. "

ALSO READ:

"Under pressure, size of Europe in its public expenditure

Fran?ois Fillon defends introduce rigor

Eve Royer recruitment manager at Assystem lowest fee payday loans.

The Economy Minister, Christine Lagarde, hopes that SMEs and mid-cap companies (ETI) employing less than 5 000 people found the path of the Exchange. It proposes that the European Commission to set up a "small business act" of securities law. For this she draws the report to be presented Demarigny Fabrizio, director of capital markets activities of the Mazars Group. The document proposes 20 measures to establish a financial environment and regulatory framework. Because SMEs are less likely to go public. According to the European Central Bank, only 1% of European SMEs have issued shares or calls to investors.

The report proposes that the Small Business Act adopted in Europe in June 2008 to promote SME development should be extended to securities law.

Fabrice Demarigny recommends "creating a European definition" for this category of companies listed named "smilies" – "small and medium sized issuers listed in Europe 'cash advance . That would be "at the IPO companies for which the amount of funds raised is less than 75 million euros. Member States should be able to set a lower threshold for the companies they own the home Member State ".

Standards Simplified

Fabrice Demarigny proposes that the documentation requirements for listed companies is shorter and more readable for large groups. For example, financial information could cover only two years. Companies are allowed to publish their financial reports within three months instead of two now.He asked that the IFRS to be adopted by all companies are simplified by giving them the opportunity to use the IFRS for SMEs. For it is "thinking small" that Europe can expect to find a new economic breath.

The Asian market opts for the balance Wednesday. The financial markets of the region remain hesitant, choosing to climb slightly backward or frankly, like yesterday.

In Japan, the Nikkei opened up 0.08% and ended the session at a level almost identical: -0.04% to 10,563.92 points. The Topix, meanwhile, loose at 0.21% closing at 922.44 points. The activity was moderate with 1.62 billion shares traded on the market first.

However, two macroeconomic statistics might have to move markets. The first concerns the orders for machine tools, which fell 3.7% in January compared to the previous month, down less than expected. Similarly, China has announced a third consecutive increase in exports in February. The country recorded a trade surplus of 7.61 billion, an increase of 45.7% compared to February 2009.This is their highest rate in three years. Imports have also risen sharply, from 44.7% a year.

But markets remain very active. The meeting was mainly Japanese saw a further drop of 1.3% of Toyota shares. A new incident involving a Prius has been reported in the United States Tuesday. Experts from the road safety authority of the U.S. have to go to San Diego to inspect the vehicle who escaped the control of its driver payday loans no teletrack .

Asian investors do not follow the rise recorded by the New York Stock Exchange yesterday. Wall Street had ended on a small rise of 0.11%, led by the announcement by Cisco Systems launched a new ultra-powerful router.

Exchanges in the region in a piecemeal

The Stock Exchange of Hong Kong seems impervious to macroeconomic figures published.The Hang Seng index is up 0.02% to 21,215.50 points. The Shanghai Stock Exchange loose his side was 0.32% to finish up 0.52% to 3059.27 points.

The S & P 200 Australian stable points to 4820.

Korea's KOSDAQ takes 0.33% to 1277.10 points. The Bombay Stock Exchange climbed more strongly from 0.64% to 17,161.48 points.

Oil down

Crude oil prices retreated Wednesday in electronic trading in Asia. The barrel of light sweet crude for April delivery dropped 16 cents to 81.33 dollars while the price of Brent North Sea, with identical maturity, lost 20 cents to 79.71 dollars.

Investors now await the release of weekly statistics on the state of stocks of petroleum products in the United States. Analysts expect an eighth consecutive weekly increase of oil reserves by 1.7 million barrels.