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The French car market resumed its decline in November after a slight rebound in the previous month, the disappearance of the delayed effects of scrappage scheme imposed in particular on sales of small cars.

The new car registrations fell 7.6% last month to 179,160 units, show statistics released Thursday by the Committee of French Automobile Manufacturers (CCFA).

They were up 2.8% in October, thanks to commercial offers to individuals.

The figures quoted in November as raw data to comparable number of working days, in November 2011 that counted as 20 business days in November 2010.The decrease primarily relates to small cars. "

Of the first eleven months of the year, the French car market was down 0.3% from the same period in 2010.

And this decline 4.7% only for French manufacturers, whose share of the passenger car market stood at 56.9% over January to November, down 2.6 points compared to last year.

EARLY 2012 will be difficult

Details of sales by manufacturer confirms the continuing difficulties of PSA Peugeot Citroen, whose new car sales to individuals dropped by 15.4%, a decline twice as large as that of the market.

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While specialists are more likely to charge rates higher than the social security system, the government proposed a reform that displeased both patients and physicians mutual. At Compiegne, for example, 8 ophtalmos charge consultation between 45 and 50 euros.

In the Oise, it is better not to be myopic, but to have a good mutual. Of the forty liberal ophthalmologists present in the department, only five do not require any extra billing their patients. Thus, at Compiegne or Beauvais, all of these specialists is "Sector 2": they have the right to request additional compensation. And they are doing so! At Compiegne, for example, eight ophtalmos charge consultation between 45 and 50 euros.Not to mention the 4 million French people who do not have each other.

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Of course, all specialties are not affected. Outside of Paris, the vast majority of general practitioners, nephrologists, radiologists, cardiologists, pulmonologists and pediatricians are still an area that is to say they respect the social security rates. But in other specialties, the situation is getting worse. According to the latest figures released by Medicare, 56% of dermatologists who have opened an office in 2010 settled in Sector 2, 54% of gastroenterologists, 63% of ophtalmos, 82% of gynecologists, 84% of ENT, or 87% of surgeons.

U.S. stocks closed up again Friday, the adoption of reform measures by the Italian Senate calm investor concerns about the euro area.

The Dow Jones gained 2.19% or 259.89 points to 12,153.68 points. The Standard & Poor's has been 1.95% or 24.16 points to 1263.85 points while the Nasdaq composite advanced 2.04% or 53.60 points to 2678.75 points.

For the week, the Dow Jones gained 1.4% and the S & P 0.8%. The Nasdaq lost 0.3%.

In Italy, the Senate passed the law of financial stability, a set of austerity measures demanded by the European Union to deal with the crisis. The Chamber of Deputies will vote Saturday on the text.Bank of America gained nearly 3% to 6.21 and JPMorgan Chase & Co 1.65% to 33.28 dollars. The KBW index of bank has been awarded 2.1%.

Nvidia has awarded 3.52% to 14.98 dollars. The graphics chip maker reported quarterly results better than expected thanks to its diversification in semiconductors for mobile phones and tablets.

Default, return to the drachma, massive devaluation, hyperinflation, recession … out of the euro could well lead the Greek economy to disaster. Demonstration. Of "indignation" burn Greek euro banknotes to the Bank of Greece in Athens, October 17, 2011

The euro area, you love it or leave it. This is essentially the message from Nicolas Sarkozy and Angela Merkel George Papandreou yesterday evening after a mini-crisis summit in Cannes. French President and German Chancellor asked their conditions in the referendum decided by the Greek Prime Minister: consultation will not include the bailout of the euro but on the desire to remain or not in the euro area. And it must take place before Christmas.

"It is clear that the question that is posed is that of the European future of Greece.Her outfit is however conditional on the vote of confidence in Parliament of the Greek government policy and the possible holding of early parliamentary elections, but if this referendum does take place, that meet the Greeks? "The Greek people will not come out of the single currency, says political scientist Georges Sefertzis expansion. Com. It is not against the euro than the Protestant population. It is against the decisions of austerity and hard above all very unfair. "

Yes, but in these times of severe political instability and confusion of the population, no one can say that the ras-le-bol massive Greeks will not materialize by a protest vote at the polls. That is to say no to the euro area. In principle, no country can leave the euro area. Neither the release nor the only possible exclusion from the European treaties. However, nothing seems to prevent it if a country so requests.

Interest rates Italian debt to 10 years have passed the psychological threshold of 6% to 6.06%. Concerns focus on capacity from Rome to take charge of its massive debt of 1,900 billion euros. Asian stock markets closed sharply down Monday, August 8, 2011. The Tokyo Stock Exchange lost 2.9%, Shanghai 3.79%, Sydney 2.9%, 3.82% Seoul, Hong Kong 2.11%. The Bombay Stock Exchange, she fell to its lowest since 2010 (-3%).

The cost of financing the huge debt of Italy also rose Friday on the issue of 7.935 billion euros of bonds and long term, despite the Europe Agreement in an attempt to stem the debt crisis , announced the Bank of Italy.

Put into a corner by its European partners, the Italian prime minister Silvio Berlusconi has also pledged to adopt by November 15 a plan of action to boost growth and reduce debt. But investors, who doubt the credibility of a government weakened and divided, are still not reassured by Italy with a huge debt reached about 1,900 billion euros (about 120% of GDP).

The top leaders of the euro area was completed last night. It provides for a discount of 50% of Greece's debt and strengthening of the EFSF to 1,000 billion euros. The details. The European Council President Herman Van Rompuy, Nicolas Sarkozy and Angela Merkel in Brussels.

The top of the eurozone, which ended in the night between Wednesday and Thursday led to a series of measures to resolve the crisis, including the deletion of 50% of the Greek debt to private creditors and the strengthening of the Fund stability in the euro area.Here are the details of decisions taken by all European leaders.

A discount of Greek debt to 50%

Banks and private equity funds that hold Greek debt have agreed to voluntarily relinquish 50% of their claims on the national debt by 2020: specifically, from January 2012, they will exchange their debt obligations Greek against others whose value will be halved. This represents a deletion of 100 billion euros of Greek debt, currently at 350 billion euros. Fund stability in the euro area (EFSF) will bring to these private creditors 30 billion euros in guarantees on these new claims.The plan of 109 billion euros in public aid (EU and International Monetary Fund) for Greece decided on July 21 is replaced by another, amounting to 100 billion euros, until 2014, who s will accompany closely monitored by the creditors of the implementation of reforms required in the country. Athens will have to find 15 billion to reduce its debt through privatization.

Recapitalized banks to the tune of 106 billion euros

Hard equity banks (equity capital and retained earnings) will reach 9% "30 June 2012." To achieve this, "banks will have to appeal primarily to sources of private capital." Until this objective, "the banks should be subject to some constraints on the distribution of dividends and payment of premiums."The European Banking (ABB) was evaluated Wednesday at 106 billion recapitalization needs, which will involve 70 schools. Greek banks are the most concerned (30 billion) before the Spanish banks (26.16 billion) and Italy (14.77 billion).

The EFSF increased up to 1000 billion

The EFSF, currently has a capacity of loan of 440 billion euros, will reach a strike force of about 1,000 billion. Two mechanisms should complement each other for this purpose. The first will be to ensure some of the potential losses of private investors when they buy government bonds on the primary market. The other is to create one or more special funds (special purpose vehicles) to attract outside investors private or public, as emerging markets.The text mentions, without elaborating, "an even closer cooperation with the International Monetary Fund."

The ECB may continue to buy back debt

The governments of the euro area may have to count on the role of the ECB firefighter to support fragile states such as Italy and Spain. Its future president, Mario Draghi, has promised to continue to do so if necessary.

Golden Rules of generalized

The golden rules of a balanced budget will be generalized. Among the measures to strengthen fiscal discipline common EU monetary figure "the adoption by each Member State of rules on passing a balanced budget the Stability and Growth in the legislation, preferably at the constitutional level or equivalent end of 2012, "the statement said.

Highs in the euro area generalized

Highs in the euro area will be held twice a year.They will be chaired, at least initially, by the President of the EU, the Belgian Herman Van Rompuy. A change in the EU treaty is considered.

The strategic plan unveiled in December Areva could result in the elimination of positions 3000-4000 as "the worst scenario discussed in the management," writes Le Figaro Friday.

The consulting firm commissioned by Areva, the Boston Consulting Group, called for a cost reduction of 30% to weather the current period, the newspaper said, without citing its sources.

According to Le Figaro, Areva said that the terms of the plan are not yet finalized and that the "figures that circulate are not set in stone", the final version to be presented on 12 and 13 December, the newspaper said.

The group declined to comment.

A source close to the company, however, said that the figures quoted by Le Figaro were "pure speculation" at this stage."These figures are not based on knowing that the strategic action plan of the group is in progress," the source said.

Areva has about 48,000 employees including 30,000 in France and 5700 in Germany.

A union source has also told Reuters that a European group committee would be held on October 26 and 27 in the presence of Luc Oursel, the new CEO.

Appointed in June to replace Anne Lauvergeon at the head of Areva, Luc Oursel has already warned that the group could shift some investments to fit the context of the post-Fukushima, and a recovery of finances was "imperative".

He also recently told the German press that Areva planned to stop certain activities in Germany after the country's decision to phase out nuclear power by 2022.

Areva may also have to include new provisions in its accounts to meet the costs of the Finnish EPR and the decline in uranium prices and volumes expected ore group.

Around 9:45, the action Areva lost 0.27% to 21.95 euros. The group's capital is held close to 90% by the French state.

The option of separate market activities and those of major European banks of deposit will be thinking in Europe, announced Thursday the EU Internal Market Commissioner Michel Barnier, without going so far as to directly question the universal banking model.

This model, championed by French banks BNP Paribas, Societe Generale and Credit Agricole and its major European competitors, is already under pressure in the United States and several European countries, like Great Britain.

"The logic is to identify risks and to face risks at the right level, adequate safeguards," said Michel Barnier at a press conference.

"Is it necessary to go further and move from the segregation of risk and prudential measures to separation, as I see in the report suggest Vickers in the UK or as the Americans wanted to do?"

"I'm not closed to the idea of ​​separation (…) Before going further, I want us to objectively verify all the advantages of separation and the negative effects this could have," he said.

He then observed that the universal banking model, which predominates in Europe, played no role in triggering the financial crisis in 2008 and, in the same way, no model of the Atlantic had not preserved the United States in this crisis.

European officials working on these topics were then clarified that the Commission would not go head on universal banking model but would seek to ensure that the risks inherent in the business market are treated "totally sealed "to protect the activities of deposit.

THE CENTER OF THE PRESIDENTIAL CAMPAIGN

In France, the idea of ​​separation of deposit banks and investment banks – or at least a separation of these types of activities – already among the themes of the presidential campaign.

It is defended not only by the Socialist Party, favorite in the polls, and the left parties but also, on the other side of the political spectrum, the National Front.

The project of the PS in 2012 and states that "we must return to a strict distinction and separation of banking activities of deposit and financial activities," an orientation also defended by the candidate Francois Hollande.

Two of his relatives, former Economy Minister Michel Sapin and the chairman of the Finance Committee of the National Assembly, Jérôme Cahuzac, recently told Reuters support the separation of deposit banks and investment..

French banks, supported by the Bank of France, for their part do not want to hear about this separation.

François Villeroy de Galhau, the network manager at BNP Paribas France had declared the end of September that such a separation would have been of no help when the financial crisis of 2008.

He wanted to show that Northern Rock in Britain was a purely retail bank while Lehman Brothers in the United States was only one bank and investment.

The French Banking Federation was not immediately available to comment on what Michel Barnier.

Bic confirmed on Wednesday its major predictions for 2011 despite the economic downturn and increased competition, both of which affected its sales in the third quarter.

The group aims for its Consumer division (pens, lighters and disposable razors), which generates 85% of sales, growth in annual sales on a comparable basis over 5% and a margin increase from the last year.

But the prospects for the division of advertising and promotional products (APP) are darker: Bic expects a decline in sales on a comparable basis "just under 10%" and a line "similar to that of 2010 ".

In the third quarter, sales of Consumer division rose 3.3% on a comparable basis (exchange rates and constant perimeter) but decreased by 2.1% as reported at 391.6 million euros .The PPA has fallen 10.0% compared to 76.6 million (-17.4% as reported).

The total quarterly revenue and a poster-like growth limited to 0.8% (-5.0% as reported).

In the first nine months of the year, sales to 1.354 billion euros, up 3.8% on a comparable basis (+6.8% for the consumer division, -10.1% for APP ), but fell back by 0.3% as reported in 1354.3 million.

Gross margin for the nine months rose 1.8 points to 49.1% of net sales and operating margin reached 23.5% standard, 3.2 points higher than last year.

"The Consumer activities remains strong despite a challenging economic environment and, most importantly, the group's profitability remains above historical levels," said in a statement the Director General, Mario Guevara.

About APP, he added that "the continued economic downturn and the challenges of integrating this activity was delayed more than we had originally anticipated, a return to growth" and evokes " necessary adjustments, "without elaborating.

In exchange, the action Bic ended Tuesday 65.61 euros. The stock has gained 2.1% since the beginning of the year while the CAC 40 index yields 17.44%.

Decline in new orders, production and employment: the French industrial activity is in contraction. Activity in manufacturing contracted in France in September.

Activity in the manufacturing industry in France has again contracted in September, with a decline in new orders, production and employment, according to the final estimate of the PMI released Monday by the company Markit. The manufacturing PMI fell back 49.1 points and 48.2 points in August, its lowest level since July 2009. The decline is less marked announced at a first estimate published on Sept. 22. An index below 50 points signals a contraction in activity.

"The debt crisis of the Eurozone and the deteriorating economic conditions have led to a sharp decline in demand," notes economist Jack Kennedy Markit, said in a statement."The manufacturing sector may well have slowed the quarterly GDP growth, the survey data suggesting a decline in industrial production for the entire third quarter."

The decline in the PMI reflected a sharp decline in the volume of new orders, domestic and export markets, sales declined for the third consecutive month and decreased production. "As a result of the current weakness of the sector, the French manufacturers are downsizing for the first time in a year," said Jack Kennedy. The PMI, compiled from a survey of companies operating in France, is a leading indicator of economic conditions, considered reliable by analysts.