Paris and Berlin Monday urged Athens to accept a new austerity in exchange for financial assistance, but the Greek political parties have postponed their Tuesday response to drastic conditions imposed by donors.

French President Nicolas Sarkozy said it was to settle the Greek crisis "once and for all," Chancellor Angela Merkel saying that his side " time is running out for Athens. "

The two leaders were speaking at a joint press conference at the Elysee while the "troika" comprising the European Union, IMF and the Bank of Central Europe ; enemies is waiting for government commitments and major Greek parties on the vote of these measures. 

The European Commission ruled that the Greek government had missed the deadline to Monday midday to conclude discussions on the subject.

A Greek official said the only deadline is a Eurogroup meeting, but no date is fixed for the meeting, which should however take place this week.

Meanwhile, an agreement between Greece and its private creditors, announced as imminent for two weeks, slow to materialize.

The three parties supporting the government led by Lucas Papademos reluctant to finally commit to austerity measures. Supposed to agree Sunday night and Monday morning, they finally postponed their meeting Tuesday.

BLOCKED ACCOUNT

The news release announcing the postponement, issued shortly after the press conference in Paris by Nicolas Sarkozy and Angela Merkel, no explanation, saying only that Lucas Papademos will further talks Monday with representatives of the Troika.

The leaders of the Socialist Party (PASOK), the conservative party New Democracy and Laos (far right), all vying for the parliamentary elections due in April, are expected to find a compromise on such difficult issues as the reform of the labor market or bank recapitalization. 

Sunday, after five hours of discussion, Lucas Papademos said that party leaders had agreed on a number of measures, including wage cuts, as part a plan to cut spending 1.5% of gross domestic product.

According to an official policy, the three parties have postponed their meeting because they had not received a 15-page summary of the conclusions of discussions Sunday.

The slow pace of negotiations in Athens has eroded the patience of donors, although agreement is essential to avoid a default on Athens 14.5 billion euros debt maturing in March. 

Merkel said she could not conceive of new aid plan "if there is no agreement with the troika."

"The parameters of the regulations are on the table," said Nicolas Sarkozy, in holding that an agreement had "never been closer" and he could not imagine a failure .

The French president on the other hand proposed, with the consent of the German Chancellor, the blocking of an account of a portion of future assistance under the new plan to the tune of interests of the Greek debt remaining to guarantee their repayment to creditors. 

CALL FOR STRIKE Tuesday

The hope of progress in terms of the recapitalization of banks, which would avoid nationalization, Monday favored the increase of these values ​​to the Athens Stock Exchange: Towards 1600 GMT, the local index banks posted a gain of nearly 11%.

But the silence of Athens and the absence of political agreement on the conditions imposed by the troika has weighed on the major European markets: the Paris Stock Exchange closed down 0.7%, the pan-European FTSEurofirst 300 index fell 0.2%. As for the Stoxx European banking stocks, has declined 0.6%.

The euro stabilized against the dollar in parallel, at about 1.3116 against 1.3112 on Friday night.

While political discussions are extended to Athens, the country's two main unions have called for a 24-hour strike Tuesday to protest against a policy that they say threatens to drag the country into a destructive spiral.

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LVMH has published annual results Thursday soaring, signing a new record with the acquisition of Bulgari and demonstrating once again the resilience of luxury to shocks in the economy .

The world of the sector, including owner of Louis Vuitton, Moet et Chandon champagne and Christian Dior perfumes, has seen its annual sales climb 16% to 23.66 billion euros, slightly above consensus expectations Thomson Reuters I / B / E / S (23.3 billion).

The group's organic growth stood at 14% throughout 2011 and to 12% in the fourth quarter alone. However, it marks a slowdown over the last three months of the year compared to 15% increase recorded in the first nine.

The annual operating income of the group rose 22% to just over five billion euros, 5.26 billion (5.1 billion against expected) and the margin increased by 0 , 7 points to 22%.

After the Swiss Richemont (Cartier, Van Cleef & Arpels) and Britain's Burberry, LVMH therefore confirms the good health of an industry that takes advantage of the strong demand in emerging countries, the re , resistance to the U.S. market and tourist flows in Europe.

"The year 2011 was again an excellent year, as was 2010 (…) Unless a major accident and despite the difficulties in Europe, the world is growing and wants more and more products, "said Bernard Arnault, CEO of the group, with a smile of satisfaction.

"We are fortunate to have as emerging markets, but also the United States, who leave and which cause strongly all of our activities, "he said, adding that being" reasonably confident for 2012 ".

'EXCELLENT' YEAR E 2012 EXPECTED FOR VUITTON

He referred to the January sales "consistent" with those of the end of 2011 and predicted for the Louis Vuitton leather goods, the nugget, which accounts for more than half of the profits of the group, an "excellent year 2012." 

With the debt crisis in Europe and slowing U.S. growth, many analysts have revised down their forecasts organic growth of the great names in luxury for 2012.

All divisions of the group have experienced double-digit growth and significantly improved margins last year, with the exception of perfumes and cosmetics (Dior, Givenchy), more affected by the crisis in Europe.

In fashion, leather goods, Louis Vuitton has yet to sign growth "double digit", while the claws Loewe and Celine have completed the year with "beautiful results", wished to clarify Bernard Arnault. 

This division, the most profitable group with Vuitton, saw its operating income surpass the $ 3.0 billion to 3.07 billion euros, with sales reaching 8.7 billion , up 16% at constant rates.

With strong demand and tight supply, the famous monogrammed bags have also benefited from price increases "more significant" than other brands.

In wines and spirits (cognac Hennessy, Dom Perignon champagne, Ruinart and Moet & Chandon), sales increased 10% to $ 3.5 billion and the margin has been 2.5 percentage points to 31% .

Selective distribution (Sephora, DFS) was not unworthy, with a leap of 34% in sales and an improvement of one point margin to 11%. 

But the most growth pole returns to watches and jewelry (TAG Heuer, Zenith and Chaumet), which has more than doubled with the acquisition of Bulgari and has increased sales by 41% ; like basis, for a margin of 13.6%.

NO hegemony HERMÈS

About Hermes, in which LVMH continued to rise (22.3%), while the deluxe saddle has been locking his family holding company capital, Bernard Arnault has reaffirmed that the participation e silent "friendly" and that LVMH had "no desire to dominate." 

Once will not hurt, LVMH has invited in the news at a time when the debate over the "made in France" is raging in France, flying to the rescue, via one of suppliers in leather, the workshop Lejaby lingerie in Yssingeaux (Haute-Loire).

The annual net income reached 3.06 billion euros signing up to 1% but 34% excluding the unrealized gain realized on the outstanding stake in Hermes s in 2010.

With these figures, the group will offer its shareholders a dividend increase of 24% to 2.60 euros.

The title LVMH closed Thursday at 126.40 euros at the Paris Stock Exchange, rising 15.5% since early January, after falling 11.13% in 2011. 

Perceived by analysts as the value most defensive sector, largely due to the brand Louis Vuitton, she exchanged with valuation multiples of about 17 times the beneficial ; profits estimated for 2012, representing a premium of approximately 15% of the industry average off Hermes.

Divided, the European Union decided Tuesday to put the spring at least the creation of a tax on financial transactions, which has yet active support of France and Germany.

Several countries, within and outside the euro area, have expressed strong reservations at the monthly meeting of EU finance ministers that such a tax "Tobin" is implemented in the EU without first being decided at the international level.

"Today the Ecofin, we mainly talked about the tax on financial transactions. The debate was lively," said the German finance minister, Wolfgang Schäuble.

As for Britain, which critics have intensified in recent days, she simply asked that the case be permanently archived.

"I suggest we bury the idea that there will be a tax on financial transactions," he told his counterparts the British Minister of Finance, George Osborne.

The Tokyo Stock Exchange ended sharply higher Monday, the EU summit Sunday with renewed hopes of resolving the crisis in the euro area and diverted the attention of the new rise in the yen and floods in Thailand.

The leaders of the European Union Sunday seemed closer to an agreement on the euro area, including the recapitalisaiton banks and the multiplication of the European Financial Stability Fund (EFSF).

The Nikkei gained 1.9%, or 165.09 points to 8,843.98 and the Topix, broader, took 11.23 points (1.51%) to 755.44.

The Nikkei, which lost 0.8% last week, crossed the threshold for Monday its moving average of the last five sessions, thus became a threshold of support for 8735 points.

"The news from Europe maintain hope and Wall Street reacted to the rise to these expectations, so the Japanese market is now catching up gains made abroad on blankets in the open position," said Koichi Ogawa, Daiwa SB Investments.

"But Japan is facing its own problems with the strong yen and floods in Thailand, affecting some manufacturing industries.These factors will limit gains in Tokyo and push investors to take a wait, time to see how the situation in Europe. "

Friday, the dollar dropped to a record low against the yen at 75.78, but has slightly rebounded since.

Title Olympus continued its dive to fall by 10.72% to 1,099 yen, after touching a low at the meeting of thirteen and a half to 1,012 yen.

The stock has lost more than half its value since the dismissal of its chief executive on Oct. 14.The latter was accused of incompetence by the presidency of the group, denounced bad practice prior to his arrival at the head of the group.

In technology, Elpida ended up 4.01% to 493 yen, while Sony fell by 1.29% to 1,536 yen.

The tire manufacturer Bridgestone has outperformed the market by winning 4.07% to 1,764 yen after announcing its intention to increase its operating profit by 5.8% of revenue in 2010/11 to 10% in 2016/17.

The computer manufacturer Hewlett-Packard on Thursday confirmed the appointment of former eBay boss Meg Whitman in his general direction, replacing Leo Apotheker decried.

"We are at a critical time and we need renewed leadership to successfully implement our strategy and take advantage of market opportunities ahead," said group chairman Ray Layne.

The Board believes that "the position of head of HP currently requires additional skills," he added in reference to Leo Apotheker.

The former CEO of the German company SAP management software was appointed late in September 2010 as head of the California group to succeed Mark Hurd.

HP is not necessarily ready to change strategy, it was explained to Reuters, which would run contrary to rumors on Wall Street.Some had thought that the departure of Leo Apotheker, head of the third row to be forced to take the door at HP would be the prelude to a coaster for substantive decisions taken during his tenure.

He has been considered a possible split of the branch PC and the acquisition of software developer Autonomy UK, some investors fearing that HP does overpays this acquisition.

In less than a year in office, Leo Apotheker has repeatedly reduced the forecast of revenue, returned to the promises concerning the integration of mobile software, amid 50% drop in share price of HP .

Meg Whitman, who was already on the board of directors of HP, is familiar with the consumer and distribution on the Internet.But it will not necessarily be the best choice, some analysts said.

The one who tried unsuccessfully to be elected as governor of California, has transformed the small eBay, which had several dozen employees in 1998, a major distributor on the internet. But the last years of his tenure were marked by growing more hesitant, intensified criticism on Wall Street and a series of acquisitions not necessarily sound like that of the Internet telephony company, Skype, ultimately sold to Microsoft.

HP ended down 4.8%, to 22.80 dollars, wiping out most of the gains of 6.6% recorded Wednesday.Investor enthusiasm for a change at the highest level has turned into caution given the fundamental uncertainty of the group, analysts said.

President Barack Obama announced Monday it had decided to appoint the labor market specialist Alan Krueger at the head of the Economic Council of the White House, while it should detail a plan next week to support employment.

Alan Krueger, an economist at Princeton University, will succeed Austan Goolsbee, whose resignation was announced in early June.

The appointment comes as President Barack Obama has detailed a plan to support employment after September 5, the day of the celebration in the U.S. Labor Day, which traditionally marks the end of the summer.

Austan Goolsbee, adviser to longtime Barack Obama, decided to leave his post as head of the Economic Council to get back to teach at the University of Chicago.His departure was a blow to the White House.

With an unemployment rate of 9.1% and fears of more serious view of the U.S. economy plunge into recession, the American presidency in fact trying to show that it does everything it can to support growth.

In the Garden of the White House alongside Alan Krueger, Barack Obama said he would build on the "raw recommendations" of the latter to stimulate the U.S. economy.

"Alan understands the difficult challenges facing our country and I am confident he will help us meet them," said Barack Obama.

PLAN FOR EMPLOYMENT

The U.S. president said he would detail next week a plan to support purchasing power and employment.

"Next week I will be releasing a series of steps that Congress can take immediately to put more money into the pockets of working families and those of the middle class, to facilitate employment for small businesses, to put teams construction work and rebuild roads, railways and airports in our nation, "he said.

Barack Obama hoped that this plan harvest support large, beyond the partisan disagreements.The Republicans have so far shown reluctance to stimulus involving additional costs.

Against the backdrop of fears around the gloomy figures for growth and employment, the popularity of Barack Obama has dropped to about 43%, close to its lowest level since the beginning of his presidency and as it prepares to appear for a second term in 2012.

The appointment of Alan Krueger must obtain the consent of the Senate.

The rise of unemployment in France has accelerated in July to find a level not seen for over 11 years, show statistics released Thursday by the Ministry of Labour and job center.

The number of job applicants in category A (those who carry on any business during the month) in France rose by 36,100 (+1.3%) last month to $ 2,756,500.

This is the highest figure recorded since February 2000 for this category, close to the definition of unemployment by the International Labour Office (ILO).

In one year, the number of unemployed in Class A rose by 2.8% or 76,200.

By adding the persons engaged in small (B and C), the increase in the number of job seekers is reduced to 0.6%, or 24,300 people over a month to $ 4,128,000. On an annual basis, growth for these three categories is 4.3%.

Labour Minister, Xavier Bertrand, was optimistic while regretting the "wrong numbers".

"But that does not detract from my belief that unemployment will go back down," he told Le Figaro.

"Social plans are declining. The layoffs do not go back. The acting is always a precursor, is good. Job creation is strong even though they are largely absorbed by the increase in the labor force.And the steps we have taken in recent months will begin to bear fruit, "he added."There is no question of fatalism."

The increase in the number of unemployed has actually accelerated in July and reached 87,400 units over the last three months for one category A.

And this trend particularly affects the public historically are more likely than those over 50 years (2% in July), the age of 25 (1.4%) and women, regardless of their age (a , 6%).

Small consolation to Xavier Bertrand, the number of unemployed youth is down 2.5% year on year.

BERTRAND WISH "enhanced mobilization"

The number of registered job center for a year or more has meanwhile increased by 0.8% from June and jumped 9.2% year on year.

July statistics confirm and restart the job market to the first half (126.500 jobs created) is not nearly enough to reverse the unemployment curve.

If it is not surprising two weeks after the announcement of the stagnation of the French economy in the second quarter, the rise in unemployment after four months of decline earlier this year is an additional handicap for the government in a difficult period.

Wednesday forced to revise downward its growth forecasts for this year and next, it might have to give up the goal of an unemployment rate below 9% by year end, further reiterated in early June.The figure for the second quarter will be published next Thursday.

Xavier Bertrand wanted in a statement "mobilization strengthened to meet the challenge of employment."

He promised to enforce "in the coming days" the measures adopted by parliament in late July as part of the proposed supplementary budget of social security.

"New sectors will thus be open to learning and professionalism, and new devices, such as the preparation that allows learning to prepare young people furthest from employment-linked training, will be implemented in During the month of September, "said the minister.

The new car registrations in the European Union in June suffered their biggest drop in eight months, some markets have suffered in the late scrapping while the economic uncertainty is leading consumers to delay purchases heavy.

Figures released Friday by the European mobile manufacturers (ACEA) has revealed a drop in sales of 8.1% in June compared with June 2010, the highest percentage since the fall of 16.6% of October 2010.

The ACEA figures is in line with that of the German trade association VDA said that a contraction of 8% of registrations of German brand of automobiles in Western Europe in June, compared to the comparable month last year .

In May, a period when the effects of the economic recovery seemed to assert, sales had increased by 7.1%. But over a period of five months they were down 0.8% and Acea said they remained below their level before the crisis.

The abandonment of programs scrapping accentuates the depression of the European market.In France, where sales fell 12.6% in June, the scrapping ended in December even though it was still possible until March to save his vehicle following their terms.

In Spain, where sales tumbled 31.4% in June, the scrapping no longer in effect since last July.

European manufacturers are paying attention on new markets such as China, India, Brazil and Russia.

Over the period January to June, registrations in the EU were down by 2.1% over the comparable period of 2010, 7,120,499 passenger cars.

Koreans DIFFER

For Renault, sales fell 20.9% in June and 10.8% for the six months, says ACEA.

Renault announced on Monday a 1.9% increase in sales worldwide in the first half, the strength of demand abroad offsetting supply problems it encounters in Europe. (See)

Rival PSA Peugeot Citroën has seen its sales fall 11.9% in June But the manufacturer has reported a 0.2% increase globally in the first half.

Those of Toyota fell by 25.8%. The Japanese manufacturer is recovering slowly after the disruption caused by the earthquake of March 11.

The South Korean Hyundai and Kia have shone on the contrary, with increases of 9.1% and 14.1%.

Volkswagen, Europe's leading manufacturer, suffered a sales decline of 0.5% in JuneThe Volkswagen brand has experienced a decline of 4.7% but Audi jumped 8.7%.

The VDA said on Friday that sales in Germany in the U.S. increased by 22% in June, echoing the growth in Brazil, however, somewhat offset by higher rates in the country.

In China, car sales are recovering after suffering the last two months the impact of the earthquake in Japan, said the VDA. Sales increased 16% in Brazil and more than 9% in China, said the federation.

Recovery in Japan and also in Russia, but registrations in Western Europe fell by 8% in June, has yet said the VDA.

BMW has this week revised upwards its annual profit target due to booming sales in China.

Prices rose 0.1% in June in France, including from food, bringing the inflation rate over one year to 2.1%. Prices rose 0.1% in June as in May, bringing the increase over one year to 2.1% (after 2% in May).

The consumer prices in France rose slightly in June, which should continue to weigh on the purchasing power, but inflation remains contained for now, say economists, who are more concerned about the slow growth wages.

Prices rose 0.1% in June as in May, bringing the increase over one year to 2.1% (after 2% in May), announced Tuesday the National Institute of Statistics and Economic Studies (INSEE).Excluding tobacco, the increase is the same.

"We can not really talk about slipping prices in France, inflation remains contained for the moment," said Alexander Law, at Xerfi. "There is no risk of hyper-inflation," added Marc Touati, Assya of Compagnie Financière. In June, increases and decreases were offset almost in France.

The food prices increased again (0.3%), after rising 1.0% in May Prices for services also increased in June (0.2%), with the beginning of the summer season which increases the prices of holiday accommodation (16.7%). In contrast, energy prices fell again (-0.5% after -1.3% in May), in the wake of lower crude oil prices.The prices of clothing, footwear also fell 1% in June (-0.1% YoY). As for the prices of manufactured goods, they remained stable in June.

If it remains contained, "inflation should continue to grow at a steady pace and continue to influence the purchasing power," Camille Williencourt concerned, an economist at Natixis. Especially since, according to analyst firms, to increase their profit margin, will "be tempted to make a profit sharing in their favor at the expense of employees." For Mr. Touati, "the real danger is not inflation but slow growth returning.""We sacrificed on the altar of growth of inflation and the problem today is that income does not progress enough to offset rising prices," he considers.

Thus the current level of inflation does not, in his view, higher interest rates, in terms of France.Un view shared by Alexander Law, for which the European Central Bank (ECB) " would do well to put a temporary end to its policy of monetary tightening. " The ECB raised interest rates as expected on Thursday and suggested that it could proceed with further monetary tightening despite the debt crisis that shakes the region. Or "now this crisis is far more troubling" that the price increase, said Mr. Law.

The evolution of inflation will depend very much on the future of commodity prices including oil."In the medium term, a drop in demand could reduce prices but in the longer term, it will take to the idea of ​​a sustainable energy more expensive," said he. Meanwhile, rising prices in France will benefit investors, the pay rate of the Livret A to increase to 2.25% as of August 1, against 2% previously.

The U.S. economy created far fewer jobs than expected in June and the unemployment rate reached 9.2%, according to official statistics released Friday.

Last month, 18,000 non-agricultural jobs were created, according to the Labor Department.

Economists on average had forecast 90,000 jobs created. The figure of 18,000 designs is the lowest since September 2010, in which 29,000 jobs were gone.

The May figure was revised sharply lower to 25,000, against 54,000 previously announced.

A 9.2%, while analysts expected a rate unchanged from one month to the other 9.1%, unemployment reached its highest level since 9.4% in December 2010.