The President of the European Central Bank Mario Draghi has made it clear Thursday he was ready to take additional measures to support the economy in the euro area, adding that the downside risks have increased and that the ECB was aware of the increasing difficulties of banks.

As pressure increases on the leaders of the eurozone to make progress on a response to the debt crisis by the European summit of December 9, Mario Draghi, speaking before the European Parliament, called for a "deepening" of the budgetary and fiscal integration.

"To me, what is needed by our economic and fiscal union is a new budget agreement – a fundamental reformulation of fiscal rules, budgetary commitments with each other that the governments of the euro area have been," Has he said.

"We might ask if a new budget agreement would be sufficient to stabilize the markets and if a credible long-term vision can be useful in the short term.

The group specializes in the trade press and trade fairs Reed Elsevier reported Wednesday an increase of 1% of its turnover for the first nine months of the year to provide comparables and said earnings per share on year in line with expectations.

According to a spokesperson, the group consensus estimates for EPS to show between 45 and 46 pence, representing an increase of 4% to 6%.

In exchange, the action was down 0.82% to 8.80 euros in Amsterdam and from 1% to 532 pence in London, while the European index of the media sector earns 0.7%.

Each of the five divisions of the Anglo-Dutch group is growing its billing smoothed non-recurring items.

In his Bordeaux against social fraud, Nicolas Sarkozy seems to have mostly focused on benefit fraud individuals. But this is far from being the No. 1 threat to Social Security accounts. Parade 1st May 2004 in Paris.

Social fraud is the enemy. Nicolas Sarkozy, on the road to the family allowance fund of Bordeaux, gave a speech particularly offensive against fraud, described as "worst and most insidious betrayal of the spirit of 1945" and accused of "undermining the foundations the same Social Republic. " If he was refusing to "stigmatize anyone," the president nevertheless denounced "thieves and cheaters" in the system. The thieves are those who feel abused a social benefit. And cheaters, those who employ an employee without declaring it.

His speech, however, was unbalanced. Indeed, it has placed more emphasis on fraud of insured persons, he took care to detail ("he who has a work stoppage fraudulent," "one who underestimates its resources," "he who does not reside in the country "," one who invents a fictional housing "..) than that of health professionals or companies, referred to simple turn of a phrase. Yet the amounts diverted by them are a priori much more important. State of Play.

How much is the benefit fraud in France?

All the fraud was by nature not detected, there are only estimates. The benefit fraud general scheme has been estimated at between 2 and 3 billion euros by a recent parliamentary report.

LyondellBasell employees were extended on Monday the strike and blocking the production units of the group. The SP displays its support for the movement and the government provides "mobilize." LyondellBasell employees are on strike against the planned closure of the Berre refinery, which employs 370 people.

Employees of the U.S. company LyondellBasell have extended their Monday strike and blocking the production sites of the group. They protest against the closure of a refinery in Berre L'Etang (Bouches-du-Rhone). Several hundred people took part in the vote at a general meeting in mid-day, as part of the action taken after the September 27 announcement of the closure by management.

The refinery and production units in September LyondellBasell are blocked at the site of Berre L'Etang, and a fuel depot in Rognac and propylene oxide plant at Fos-sur-Mer, two neighboring towns. Staff representatives were sent to the Directorate Sunday, through their lawyers, questions about the future of the site but have not received a response for now, their last contact dating back to Thursday night they say.

The closure of the refinery would cover the approximately 370 employees to 1,250, in total, working in the petrochemical complex of the American group around the Etang de Berre. In recent days, the political reactions are multiplying on the subject. Martine Aubry, the Socialist candidate in the primary, on Monday expressed its "solidarity" with employees. It asks the Prime Minister to consider "alternatives to closing track".The mayor of Lille also known as "shared anger and anxiety of employees: see anger on the part of LyondellBasell's refusal to dialogue and put forward false numbers to justify for a purely financial and stock market, and concern before the uncertainty over the future of a site which employs 1,250 employees and thousands of subcontractors. " According to her, "the passivity of the government to a matter as serious, witnessed the acceleration of the industrialization of our country is unacceptable. It is not enough to say, as the Minister of Industry, that" his services are closely monitoring the ".

"The challenge of this case is the local district, regional and national levels"

Indeed, Eric Besson said Saturday that the government "mobilizing" all its means to ensure the future of the site.But he admitted not yet be able to indicate what decisions it would take to sustain the site. The Minister of Industry is expected to receive in the coming days the unions and the management of LyondellBasell said a ministry statement. The Ministry, it was recognized that the state could not force a company to maintain an activity when it decided to stop or suspend. The Government will ensure that LyondellBasell fulfills its reclassification as employees affected by this closure affect redundancy pay sufficiently "important," one said.

The case began to take a political turn with the Saturday site visit by the candidate for the primary Socialist Francois Hollande, who has held a "roundtable indispensable" for "transparency about the intentions of the group" and "how we can keep the whole chain from refinery to petrochemicals. " "The challenge of this case, it is not just a refinery is a potential that can, if nothing is clarified in the coming days, to be phased in question, or even disappear. It is a challenge local, district, regional and national, "he told reporters, after meeting a half hour with Inter (CGT, CFDT, CFE-CGC, FOR, CFTC).

The name of the successor of François Chérèque is already known for three years, provides a blog linked to Figaro.fr. The handover could take place in mid-2012. The departure of François Chérèque of the post of secretary general of the CFDT could happen in mid-2012.

François Chérèque of the estate at the head of the CFDT is folded from "a long time," says the BBC journalist Mark Landre on his blog The Cartoon Network. According to him, Lawrence Berger, national secretary in charge of employment and organization, no doubt replace the current general secretary. The decision would even be fixed for three years. "The question is not whether Lawrence will take the place of Francis, but when," reportedly said a central part of Belleville. According to him, this could be done in an early departure of François Chérèque "in mid-2012."

PSA Peugeot Citroen and General Electric announced Wednesday it had signed a business cooperation and technology in Europe around the electric vehicle.

The automaker and the U.S. giant has said in a statement that the agreement was not exclusive to work together including the deployment of a commercial offering combining the electric vehicle charging infrastructure.

New offerings destined for the corporate customers will also be developed.

General Electric is committed in this context to purchase up to 1,000 electric vehicles to PSA by the end of 2015.

PSA remember launched in late 2010 electric vehicle Citroën "C-ZERO" Peugeot and "ion".

The avenue has returned to Paris in 2011 the European city where commercial rents are the highest in the Old World. It is the fifth largest in the world.

The rental value of the Champs Elysees was up 5.3% over the last twelve months 7364 euros per square meter per year, according to the study of real estate advisory firm Cushman & Wakefield on Thursday. It precedes and New Bond Street, who had dethroned in 2010, but the increase was smaller this year, from 4.3% to 6,901 euros per square meter per year, and retrograde in the fourth to sixth .

"In contrast to the decrease of 9.5% recorded last year," the increase in rental value of the Champs-Elysées "sign a comeback of the most beautiful avenue in the world, recently hosted several openings and significant transactions "said the annual study, citing in particular came programmed Marks and Spencer and Banana Republic.

The avenue also welcomed recent months many textile retailers such as Abercrombie and Fitch, Tommy Hilfiger and H & M, to the regret of the City of Paris, fearing that the movement would jeopardize the cinemas and restaurants on Avenue. "Other projects could materialize in the coming months and push even the rental value" of the best locations on the Champs-Elysees on the rise, the study provides.

"The economic recovery, even fragile, the development of tourism in the capital and reducing the number of opportunities available whet the appetite for major international brands already present in Paris or wishing to establish themselves," says Christian Dubois CEO of Cushman & Wakefield France. In addition to the Champs-Elysees, other districts of Paris are "very attractive to retailers (Opera / Madeleine Le Marais, Boulevard Saint-Germain, etc.)." Notes the study.

The Paris appeal is not limited to mass education, the study adds. "Boosted by the launch of new luxury hotels, the luxury market, through various openings, such as Chloe Rue St. Honore, or the pursuit of upscale department stores, appears as one of the big winners of the crisis, "says Dubois.

Changes in world ranking

Globally, the top three remains unchanged: the 5th Avenue in New York is still the most expensive shopping street, for the tenth consecutive year, to 16,704 euros (+21.6%), followed by Causeway Bay in Hong Kong to 14,426 euros (+16.7%) and Ginza in Tokyo at 7,750 euros (+8.7%).

Pitt Street Mall in Sydney, however, was hoisted from ninth to fourth place with 7,384 euros, with a jump of 33.3% of its rental value. Overall, the main arteries of global trade have been aggressive. "Despite the fragility of the economic climate and consumer sentiment in many countries", 81% of 278 analyzed sites in 63 countries "have experienced an increase or stability of their rental value against 66% in 2010," said M . Dubois.But "a significant further increase in rents and widespread" seems "less certain now" in the context of debt crisis and economic slowdown.

Suez Environnement said Wednesday operational performance up sharply in the first half, thanks to its activities in water and waste in Europe, and confirmed all of its targets for the period 2011-2013.

This confirmation helps to increase security in the morning, while some analysts considered the objectives of the world's second largest environmental services under pressure because of the risks of a slowdown in the global economy.

"We are in our 'guidances' the assumption of continued improvement in global economic growth," said Chief Financial Officer, Jean-Marc Boursier, at a conference with the press and analysts.

"If ever there was to be very different macroeconomic conditions we get back to you, but as of today, this does not seem useful to change."

The title earned Suez Environnement 3.46% to 13.02 euros at 11:00 am, at the head of the few increases in the CAC 40 index (-0.6%).Espirito Santo Investment Bank in a note, said that confirmation of the medium-term objectives in the current economic climate is "a strong message."

Suez Environnement, which bought the Agbar in Spain in June 2010, recorded in the first half current operating income of 562 million (+27.4% at constant exchange rates), EBITDA of 1.233 million (+17.6% at constant exchange constant) and a turnover of 7.376 million (+11.3% at constant exchange rates).

Net income group share, boosted by gains in the first half of 2010, spring, however, down 42.8% to 221 million euros.

According to the consensus reached by the editor of Reuters, analysts on average expected a net profit of 184 million euros, an EBITDA of 1.219 million and a turnover of 7.339 million.

PROVISIONS FOR IMPAIRMENT AND VEOLIA

"The operating profit grew strongly (…), driven by the Water Europe segment with the integration of Agbar and the Waste Europe segment which has a sustained level of activity with higher volumes," he Suez Environnement said.

The international segment's EBITDA declined 3.5%, however, at constant exchange rates due to cost overruns on the construction of the desalination plant in Melbourne, Australia, "due to exceptional weather conditions and complex social dialogue" leading the group to record a charge of 52 million euros at end June

The objectives of Suez Environnement for this year include increases of at least 5% of its revenue and at least 10% of its gross operating income, at constant exchange rates compared to 2010.

The company also aims for this year's net income group share more than 425 million euros and free cash flow at least equal to that of 2010, while its net financial debt / EBITDA is expected around three times at the end of the year.

Over the period 2011-2013, it expects average increases of at least 5% of its sales and at least 7% of its gross operating income, at constant exchange rates.

It also increased its annual dividend of about 5% for the years 2011 to 2013, with a target long-term payout ratio above 60%.

Veolia Environnement, its major competitor, for its part, announced Friday new restructuring measures that have led him to give up its performance targets and lead him to recognize in its accounts at June 30, asset impairment and provisions for a total amount of 800 million euros.

Wall Street opened Friday's session down sharply, preliminary figures for growth in the U.S. in the second quarter disappointed the market.

A few minutes after the start of trading, the Dow Jones already yielded 1.03% to 12,114.40 points, the Standard & Poor's 500 index 1.05% to 1286.95 points and the Nasdaq Composite 1.04% in 2737, 44 points.

U.S. growth in the second quarter was weaker than expected, according to preliminary figures released by the Commerce Department, due to sluggish consumer particularly affected by rising gasoline prices.

Gross domestic product (GDP) of the world's largest economy has increased by 1.3% over this period.

Values, securities Merck, Chevron and Starbucks opened the session down 1.34%, 0.65% and 1.76% after publication of their results.

Wall Street opened on an uncertain note Friday, disappointing trial results giants Microsoft and Caterpillar have overshadowed relief born of the Europe Agreement on the Rescue of Greece.

Ten minutes into trading, the Dow Jones lost 0.25% to 12,692.55 points, the Standard & Poor's 500 fell by 0.08% to 1342.76 points and the Nasdaq Composite advanced 0.27% to 2842.19 points.

Affecting the performance of the Dow Jones, Caterpillar fell by more than 7.4% after reporting quarterly earnings Friday on the rise but below market expectations.

Microsoft was lower after opening higher in the red.The group's earnings per share exceeded market expectations but sales of the Windows division declined.

McDonald's won for its 3.03% after publishing quarterly results better than expected.

Eyes turn now to the budget negotiations in the U.S., entering a critical stage Friday.

This is indeed the deadline set by President Barack Obama to try to reach an agreement with parliamentary leaders on raising the debt ceiling before August 2, after which Washington would find itself in default.

The rating agency Standard & Poor's reiterated Thursday that there was a chance that two lower sovereign rating of the United States within three months, Market News International reported.