Caution was also needed on Wall Street before the meeting Tuesday of the Monetary Policy Committee of the Federal Reserve. In session, the Dow Jones lost 0.38% and 0.87% on Nasdaq. The Fed should keep its no surprise key interest rate, the interbank rate on a daily close to zero and reiterate its commitment to maintain a low level for a "prolonged period".More than the rate decision widely expected, investors will scrutinize the speeches of leaders of the U.S. central bank. They watch for a possible change in tone or vocabulary that could be the harbinger of early recovery in interbank rates, especially after raising the discount rate last month low fee cash advance .

Increased industrial production

The announcement Monday of a U.S. industrial production slightly exceeded expectations in February, rising for the eighth consecutive month, failed to take the course up.

In New York and Paris the past experts of raw materials and steel were under pressure, pulled down by rising greenback.Also note on Wall Street, as the parent company of Calvin Klein, the Philips-Van Heusen, jumped more than 10%. The group will buy the brand of leisure wear Tommy Hilfiger in UK investment funds Apax Partners, creating a new giant of the fashion and confirming thaw market mergers and acquisitions.

Banks that had climbed a lot these last time also suffered profit taking. Societe Generale has yielded 2.24%, 1.77% Credit Agricole and BNP Paribas 1.21%.

"For many years we wanted a partner, and we have not said much before finding with perceiving people who speak the same language as us," says Christelle Bernard, CEO of the company alongside his brother, Stephen. The company, founded in 1682, had been picked up by their grandparents in 1948.

"We specialize in assisting French SMEs who need to take a course, adds Jean-Louis Grevet.We're here to help Dalloyau to regain the confidence of the financial world and to empower it to develop. "

The investment amount was not disclosed. This new money will anyway welcome to Dalloyau, who just pass through two very difficult years. After a downturn and a loss in 2008, its sales fell again in 2009, "approximately 25%" to 35 million euros, and the result remained in the red.

Faced with serious problems of liquidity, the company sought the assistance of Ciri (Interministerial Committee for Industrial Restructuring), an organization of Bercy, to negotiate a deferral of its social and tax claims. According Christelle Bernard, "less than twenty" of jobs were lost in 2009 to reduce costs.The company employs 380 people in France.

Like its competitors, Dalloyau suffered economic slowdown but especially since the fall of 2008, the collapse of the market for corporate functions. The new shareholder was nevertheless confident in its ability to recover and regain financial balance this year.

International development

With this capital injection, Dalloyau plans to invest in its image to expand its business. The brand has only six stores and two "corners" in France. It could decide to open up. Overseas, the brand has 26 outlets in franchise in Asia and the Middle East. Projects have already been announced with external partners in Qatar, Dubai and Morocco. This jewel of French gastronomy has also exported its famous macaroons in Japan.A discussion could be initiated on its installation in the United States.

Perceiving Capital was founded by former fund turnaround firms in difficulty Butler Capital. Last year, he invested in the CMW Trailor ACTM International, manufacturer of semi-trailers. It also looked at the file coachbuilder Heuliez. Her entry in Dalloyau does not occur in the form of LBO (leveraged buyout by debt).

In a report presented Wednesday, the Organization for Cooperation and Economic Development calls for post-crisis "progressive" and "contact" who favor reducing deficits, without neglecting the structural reforms essential to future growth. "The global recession has left deep scars," said Secretary General Angel Gurria. The OECD estimated at 3% of GDP the impact of the crisis on the potential long-term growth."The only way to begin to heal the wounds is to take steps now that will allow our economies to regain their lost growth potential," added Angel Gurria.

For rich countries, priority will be to reduce the deficit while fighting against unemployment. The equation means that reforms focusing on the rate of employment rather than productivity. Each state must first stop gradually according to budgetary margins and recovery, the outstanding public support, including aid industry as the premium breaks or the financing of major infrastructure works cheap payday advance .

Carbon tax and VAT

To reduce deficits, we must act on spending and taxes. "We recommend targeted actions," said chief economist Pier Carlo Padoan.Be careful not to touch the most productive expenditure in education and health research and development.

On the fiscal side, the OECD recommends that taxes do not jeopardize the long-term growth, such as the carbon tax to "encourage the development of a more sustainable economy and contribute to the well-being of citizens."

Another tip: it is better to tax consumption rather than labor income or corporate profits. And act quickly. "If we want fiscal consolidation in 2011, policy measures must be taken now," says the chief economist of the OECD Pier Carlo Padoan. The most indebted countries, like Greece, are requested to take urgent and radical action, to borrow at lower cost.The OECD has welcomed yesterday the plan of austerity Portugal, who combined tax increases and wage freezes for staff.

On the monetary side, the OECD recommends withdrawal of the measures "Unconventional" credit assistance, but without higher interest rates in the short term because there is "no inflation pressures in countries more industrialized.

Yesterday, the Paris markets have ended on a slight decline of 0.18% despite opening in the green (0.35%). In Asia, the situation calmed after the euphoria of Monday. The numbers of U.S. employment, less worse than expected, to cease their invigorating effect. Monday already, Wall Street closed haphazardly in a sitting motionless.

The wait dominates before the publication of figures and important clues on the weekend.French side, there will be foreign trade figures for January and industrial output (Wednesday), the French deficit figures, the trade balance and the number of weekly unemployment in the United States (Thursday), and finally, the much anticipated index of U.S. consumer confidence (Friday).

Meanwhile, the trade deficit narrowed in France in January to 3.681 billion euros against 4.155 billion in December 2009, thanks to increased exports of manufactured goods, the Customs said Tuesday. This figure confirms the resumption of trade, but this recovery is much slower than the drop caused by the crisis, observers said.

EADS in the collimator

EADS announced on Tuesday a loss in 2009 of 763 million euros against a profit last year of 1.5 billion.The group expects a 2010 EBIT of $ 1 billion against 2.2 billion (before provisions) last year, and a stabilization of sales to 42.8 billion euros. Furthermore, EADS and its U.S. ally Northrop Grumman said the night they did not submit a bid for the tanker contract from the U.S. Air Force, saying it benefits their competitor Boeing fast cash without a hassle . The title is heavily penalized Exchange: -5,5,23% to 15.05 euros.

The bank also abused: Credit Agricole (-0.98%), Societe Generale (-0.63%) and BNP Paribas (-0.47%) retreated.

April (2.58% to 23.09 euros) on Monday announced an increase of 20% of its net 2009 profit 72.7 million euros. Financial products have more than doubled to 18.6 million.The insurer expects for 2010 a double-digit growth in its gross margin, with a positive impact on its operating margin (13% in 2009).

Total (0.44% to 42.44 euros) yesterday confirmed the closure of the refinery at Dunkirk and the fulfillment of its participation in the construction of an LNG terminal with EDF (+0.63% at 38 15 euros).

In addition, the electrician announced a collaboration with Rosatom, the Russian nuclear energy giant, in the development of reactors for third countries.Other partnerships are being negotiated with Russia in the field of electricity and fuel.

In the process, GDF Suez is in great shape (+1.18% at 27.80 euros) and achieves the best performance of ACC.

Sanofi Aventis (0.84% to 56.22 euros) and Merck announced Tuesday the creation of a joint venture equally owned in the area of animal health together their subsidiaries Merial and Intervet / Schering-Plow. The agreement created should be finalized within the next twelve months.

Eurotunnel (0.61% to 7.75 euro) remained in the black in 2009, with net income of 1.4 million euros but a turnover of 571 million euros, down 16 %. Jacques Gounon, Eurotunnel's CEO, recalls in an interview with Le Figaro, his intention to "market share" in the future. The group will pay the same dividend as last year, ie 4 cents per share."The payment of a dividend reflects our confidence and determination in 2010," commented Jacques Gounon.

Vicat (-0.07 ù at 56.76 euros) will release after the market closes.

"INTERVIEW – J. Gounon, Eurotunnel's CEO comments on 2009 results

BHP proposes three options to its customers for contracts on coking coal: an annual listing and every two months for half of the offers, the possibility of reducing tender contracts between quarterly and half, and finally, publication of prices every three months.

According to Macquarie Group, is the first time an agreement on a three-month contract is signed in the steel sector.

Without any contact number, the group said it sold a "significant portion of its volume of coking coal for 2010.JFE Holdings, the second largest Japanese steelmaker, had said last Friday it had agreed to pay $ 200 per tonne over three months. For Jim Lennon, analyst at Macquarie, specialist materials, "the Japanese will prove more flexible on prices." Flexibility which could benefit BHP, Teck Resources, Xstrata, Mechel OAO, Rio Tinto Group, Alpha Natural Resources and Massey Energy.

The new contract for three months, for which Morgan Stanley anticipates a course at $ 222 per ton, beginning 1 April next year, according JFE. One that expires next March 31, is listed at $ 129 per tonne.

On February 26, Energy Publishing, which reports the data supply and demand in the major coal producing countries, has published three price indexes for coking coal."The pricing in the short term will be difficult to manage without a reliable index of the prices of coking coal, which is why the publication of these indexes comes at the right time for the coal markets," said Forrest Hill, President Energy Publishing.

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Le Figaro. – You arrive at the branch of Credit Agricole after a period marked by strong internal tensions. What is today the climate within the group?

Jean-Paul CHIFFLET. – The page is turned.The Regional Banks have expressed the chairman Rene Carron and the board gave me their trust. Since the handover with Georges Pauget has been successful and the fears that had been born to Crédit Agricole SA have been lifted. It is now for me to get the confidence of team Credit Agricole SA and be up to the expectations that have been made. We are a bank different. Our values correspond to the aspirations of society and an agricultural credit united and mobilized is able to achieve great things.

Your first appointments give full details to the "barons" of Regional Banks. Is it to regain control group by the network?

Only by taking into account the competencies of each guided these choices. Leaders of major subsidiaries have been also confirmed in their posts.I advocate balance and diversity profiles. I've always been concerned teams. Probably because I can not work alone!

The disagreements between President Rene Carron and CEO George Pauget were notorious. How do you prepare to work with Jean-Marie Sander?

We just spent three and a half together with the Federation and we get along very well. This does not prevent us from having trade sometimes "manly", but ultimately we are always in phase. We have a real mutual respect and we will arrange to fill our roles, the presidency of Jean-Marie and the executive branch for me.

When you were on the Federation side, you had ceased all your role as majority shareholder of CASA through the SAS La Boetie.Now, what are your successors who will have this power …

We change jersey but we do not change the team! I am very pleased that we have created the SAS La Boetie. There, on one side, a majority shareholder to comply and, on the other, a listed company to also comply. This means that conflicts of interest may arise – for example around the dividend. They should not be ignored but, instead, discussed and placed on the table.

It also happens that I know very well my successor, Philippe Brassac, and this creates favorable conditions for dealing with conflicts.

What are your priorities?

We are launching a strategic review of business Credit Agricole SA, which culminate in June-July. And at the same time, we also launched a group project to define the broad guidelines to ten years.It is an exercise that Credit Agricole has already done twice before, in 1990 and 2000. We will hold our first meeting March 17 with the presidents and CEOs of regional banks and the Executive Committee of Crédit Agricole SA payday loan lenders . And December 15, we will make our work.

What to expect?

We will prepare the future of group work on its customer relationships, profile, perimeter, etc.. There is no taboo. But I do not anticipate a priori true strategic failure.

Even your bank subsidiary of Crédit Agricole CIB investment? Some see you out of those trades …

You know, agricultural credit, we know that this is not because there has been a year of freezing as it takes to cut the apricots that have not happened.There is no question of any arrest. Since the implementation of our plan to refocus our organization is in line with our strategy. Crédit Agricole to finance companies, small as well as large. And for that we must be able to offer financing capabilities as well as services markets. Our team of market operators is 400 employees. Some of our competitors have up to 4 000. But the size of our team responds well to our model and is suited to serve our customers.

And internationally, the painful failure of your purchase in Greece call into question your political opening?

Crédit Agricole has decided, ten years ago, opening up to Europe. Italy, Egypt or Morocco are real success. In Greece, we have a difficult issue with our subsidiary Emporiki. We're the remedy.Now it is true that Credit Agricole could further strengthen its control over international. There, in the Regional Banks, or at CASA at LCL, a pool of talent that we have to animate to have more staff able to intervene outside our borders. It is for us a real challenge.

Do you participate in the movement of consolidation in the banking sector?

Do not confuse speed with haste. The schedule is favorable to us. We will finalize our project group at the end of the year and will be ready to act even though the regulatory horizon to be clarified. We do not intend to stay out of the game.

Crédit Agricole has already begun to move closer to Societe Generale in some trades. And more extensive project were surveyed …

This debate is beginning to date.With Amund, we set a good joint venture in asset management. If we find other opportunities for collaboration to reduce intermediation costs for our customers, we will. With the Company generally or with others. We are, for example, partners in securities trades with BNP Paribas and savings banks.

In 2006, Crédit Agricole was elbow to elbow with BNP Paribas in terms of results. In 2009, you are in the half. The gap is definitely dug it?

It will perhaps surprise you, but we are not trying to be first. BNP Paribas, which leaves a external growth operation, displays a net banking income of some 40 billion euros. We are 30 billion. The gap is less important. However, our outstanding financing of the economy in France reached 460 billion euros, well ahead of our competitors.We seek above all to make ourselves useful to the economy without making the race for size.

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In Athens, about 5,000 union members protesting in the rain in the streets, which must be added the separate gathering of 5,000 activists of the union Struggle Front (PAME), an offshoot of the ultra-orthodox communist party (KKE). In Salonika, is counting down nearly 3,000 officers pounding the pavement.

Moreover, tens of thousands of officials have answered the call to strike the ADEDY. Air traffic controllers joined the strike and there was no traffic Wednesday in Greece.

Meeting of Finance Ministers of the euro area

These events occur when the finance ministers of the eurozone plan to meet as Wednesday by teleconference to discuss the situation in Greece, several diplomatic sources.

According to Le Monde, President of the European Central Bank, Jean-Claude Trichet and the chairman of the Eurogroup forum of finance ministers from the eurozone, Jean-Claude Juncker, will join the discussions.

This meeting will be held on the eve of a summit of EU leaders on the issue in Brussels free credit report . At this stage, there is "not agree" on a plan of aid to Greece. The signs, however, a support mechanism for this country is growing. A senior parliamentary Conservative German Chancellor Angela Merkel, Michael Meister, has indicated that preparations were underway in the German Government for an assistance plan.It could take the form of housing provision of bilateral loans to certain countries of the euro area in favor of Greece, to help cope with higher prices for its cost of borrowing on the markets since the beginning of the crisis.The option of an advance payment of EU subsidies to Greece is also considered.

Papandreou lunch with Nicolas Sarkozy

Prime Minister George Papandreou, who visited on Wednesday in Paris, where he has lunch with French President Nicolas Sarkozy had called in an attempt to limit the impact of the strike, officials to "lead by example" to contribute to the crisis.

Furthermore, President Nicolas Sarkozy and Chancellor Angela Merkel Thursday held a joint press conference after the informal EU summit in Brussels, including the situation in Greece, said Wednesday the spokesman for the French government, Luc Chatel. "Under the EU summit, the president will have the opportunity to hold a joint press conference with Merkel on various subjects.I guess the question (of the situation in Greece) will be addressed, "said Luc Chatel in reporting to the press the work of the council of ministers.

"The French government is involved as its European partners on the situation of the euro and the situation in Greece in particular," he said, adding that the Economy Minister Christine Lagarde had "routine contacts with counterparts "on this issue.

Niels Diederich. – No. The decision of the Court concerns only the welfare of minors. In the system of "Hartz IV", children whose parents are unemployed or who are raised in single-parent families, indirectly affect the state aid. However, they receive only 70 to 80% of the amount awarded to an adult. In 2005, the legislature had found that children have lower needs than adults and had applied a standard reduction. The judges felt that we can not calculate the social benefits attributed to children on the same basis as for adults. They require the development of a new scale of separate calculation, so that their needs are taken into account.The government will soon review the text to make its corrections.

The competitiveness of German companies is in danger?

Not because this decision they will not carry more loads, it does not hurt German exports. The companies co-finance the system of unemployment insurance by 50%. But it is a separate mechanism. The system "Hartz IV" is funded through taxes. But the state has pledged not to raise taxes. It will therefore reduce expenditure to finance the surcoût.La Court is often accused of conservatism.

That shutdown threat does not modernization of Germany?

Politicians always moan against the Constitutional Court. Created after the Nazi era to serve as a safeguard against the state, it has, indeed, enormous powers. But judges do not prevent the country's modernization.On the contrary. In 1949, when the conservative party (CDU) had held that in cases of dispute over the education of children, the man still had the last word on the woman, the Court ruled that the law contradicted the principle of equality between citizens. Since the 1950s, it required that disputes be settled by a judge, thus laying the foundations of the principle of equality between men and women in the country.

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He added: "But the priority is giving up the chairmanship of the board of directors of Veolia. This is far from done. "In an interview with Parisien on Monday, the new CEO of Veolia Environment, Antoine Frerot, said the transition would last "as long as this transfer takes place seamlessly and smoothly. The handover between the old and the new boss is essential in the interests of Veolia.

His new duties as head of EDF seems to be incompatible with too many mandates. During a television show on TF1, the President of the Republic, Nicolas Sarkozy, said Henri Proglio "will devote 100% to EDF. However, it is still "a few months," Chairman of the Board of Directors of Veolia.

More than twenty terms in France and abroad

The president of EDF is a director of five companies in France – that is to say, the statutory maximum online payday advance .Natixis addition, it is present at Lagardere, EDF, CNP Assurances and Dassault Aviation. It is also censor the supervisory board of Caisse Nationale des Caisses d'Epargne. "We always set for a maximum of one external mandate," said Pierre-Henri Leroy.

He holds several mandates within the group Veolia in France (Veolia Water, Veolia, Veolia Transport, Dalkia, Veolia Water, SARP Industries, Dalkia International, Société des Eaux de Marseille, Campus Veolia Environment) and abroad (Veolia Environment North America Operations, Veolia Environmental Services Australia, Australasia Veolia Transport, Veolia Transport Northern Europe, Veolia Environmental Services UK Siram Veolia envy UK, Veolia Environmental Services North America).

Finally, former president of Veolia is a member of the Remuneration Committee of Natixis.In 2008, due to his role at Natixis and Caisse d'Epargne, he received a little over 30,000 euros in fees.

The announcement of his departure would be primarily due to the sharp controversy over the pay double the one hand and combining work with pension enjoyed by Henri Proglio other.

Management Communication Natixis declined any comment.