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If the Tunisian and Egyptian revolutions have little impact on financial markets, one that shakes Libya far more impact. Tensions in the country, which is one of the largest exporters of oil directly affects the price of gold and black strong impact on European stock exchanges (Paris, London, Frankfurt, Milan, etc..) Asian (the Nikkei has lost nearly 1.8% this morning) and American (the index futures point to sharply lower opening on Wall Street this afternoon).

On the foreign exchange market, concern is also affected. Investors, for whom uncertainty is the worst phobias, put their appetite for risk and protect themselves in the closet. How? By placing their ball in the values called "refuge", such as gold, the dollar or the Swiss franc.In contrast, the euro, it is shunned.

Thus the European currency slipped below $ 1.36 on Tuesday morning, facing a greenback sought. Around 11 am, the euro is trading exactly at 1.3574 dollars, down 0.8%. Strong increase in the foreign exchange market.

According to technical analysis – that is to say, the analysis using only graphics – a bullish retracement could take place if "we manage to hold above this level." Conversely, the break of 1.3540 support to "push the pair to return to the area 1.3430 / 1.3460 dollars," warns XTB.

Outbreak of fever dollar

"Operators now appear in the mainstream during the political uncertainty prevailing in Libya", note analysts from Saxo Bank.The dollar is the first to benefit.

"Then just yesterday the greenback remained stable on its main counterparties, currencies against the U.S. dollar depreciate all": in addition to the euro has risen from about 1.37 to less than 1.36 dolar, the Sterling is currently trading at 1.6140 dollars after fluctuating in a range between 1.6220 and 16240 dollar yesterday during the day. The trend is the same for the Australian dollar loses more than about 80 pips (or 0.0080) against the U.S. dollar during the Asian session: it is trading at 1.0015 dollars against 1.0094 dollars late yesterday evening.

The loonie (Canadian dollar pair / USD) has fluctuated sharply in passing last night of 0.9864 to 0.9821 Canadian dollar before regaining ground this morning at 0.9860.In addition, this pair should know today strong fluctuations during the publication of the retail automotive sector off 0.7% expected in December.

Click on the thumbnail to enlarge the graphic.

Xavier Bertrand has promised to quickly solve the nagging problem of liability insurance for physicians, and in particular specialties such as obstetrics, where the premiums never stop climbing. The Health Minister has, recently, the 2010 report of the Observatory of medical risks, which will be useful to decide. The document not released but has acquired Le Figaro, is screening all medical accidents that resulted in over 15,000 euros in compensation between 2006 and 2009. More than 4000 records.

The average compensation amounted to 115,333 euros. The sum is paid either by insurers of doctors and health facilities (with the exception of the AP-HP, which is its own insurer) or by the National Compensation Medical (Oniam).This public agency occurs when the injury does not result from a recognized fault or when the amounts exceed the limits of insurance coverage (at least 3 million). Compensation, decided amicably (70% of cases) or granted by the court, does not exceed 50,000 euros in half the cases payday loans. But 13 cases have resulted in over 1 million euros, reaching a record 6.65 million. Because the cases are a very diverse gravity: an inability to 25% worse for two thirds of patients, over 25% to 22% of them, and one death in 12%.

The average amount of 115,333 euros is not fully allocated to the victims or their dependents: 27.5% of the amount used to repay the "Safely" and other organizations that have financed care, when a foul was committed. This is not the most common.In the third case, the loss is recognized as a "hazard" is "to blame bad luck, an unfortunate consequence of an act within the rules of art. Then the Oniam playing. Same thing if the injury is due to a nosocomial infection (18% of cases).

Wrongdoing in 27% of cases

The classification of specialties, surgery lags far in the lead (60% recognized the harm), with compensation close to average. (Photo credit: Marlene Awaad / Le Figaro)

U.S. economist Jeffrey Sachs, special advisor to UN Secretary General Ban Ki-moon and professor at Columbia University, spoke today at the conference "New World, New Capitalism", organized in Paris by the Minister Industry Eric Besson, in the presence of François Fillon and Prime Minister of Greece George Papandreou. Father of the liberal shock therapy in Russia of Yeltsin, Sachs, who has advised many governments, has evolved over the years in cross-interventionist in the fight against poverty.

LE FIGARO. – The European Union will she have to save other Member States this year?

Jeffrey Sachs. – I am more optimistic than most of my fellow economists about Europe. I think the euro will resist and that countries have chosen the difficult path of austerity will hold good.The bailout of Greece and Ireland's long overdue and has been implemented grudgingly, which was expensive in Europe. I agree with these plans, with one caveat: in the case of Ireland, where the weight of private debt is large, the government guarantees to banks have been too generous to me.

The French economic model he was protective against the crisis?

As an American, I am tempted to say, especially to the French right long seduced by liberalism in the U.S.: do not go to the American model! The United States undergoing a structural crisis much deeper than Germany or France. United States, unemployment reached 10%, income inequalities have never been so blatant, and the budget deficit weighs 10% of GDP. The financial system and labor market deregulation are the cause of this crisis.The heart of Europe – except Italy, which has its own political problems – France, Germany, the Netherlands, Scandinavia are much more balanced, more resistant, more competitive in the long run than the States USA.

How the West can they stay competitive?

Global competition is intense. You can increase competitiveness by lowering wages of unskilled workers or, conversely, promote education. The crisis has led to a decline in consumption. Rulers had the choice between stimulating the consumption or boost investment. The second option was the best, not one chosen by the United States, who preferred short-term policies. The recovery requires investment in major infrastructure, the green economy and human capital. Stimulate consumption is a very naive approach.The scrapping, for example, in vogue in many countries, is an easy solution, but absurd.

Are you in favor of reforming the international monetary system?

The dollar has already begun its decline. An international monetary system based on multiple currencies is needed. We must first restore the credibility of the euro. Second difficulty: Asia. The yuan prevail there as the Asian currency or will he monetary cooperation with the Japanese yen and Korean won? The yuan is not even a true international currency, but China probably has a plan to transform the next ten years or even faster.If Europe speaks with one voice (there was dithering in Germany), while Asia also agrees, then the monetary system will be based on three pillars, the euro, Asian currencies and the dollar .

In this context of weak growth and debt in the West, China Will it extend its control over Europe?

No need to be a genius to see that China is trying to recast the global economy. It saves half of its GDP! This accumulation of wealth is spectacular. One part feeds the fastest urbanization in history, which involves the construction of infrastructure, roads, power plants on a scale without precedent. China has also become the largest investor in Africa. She also played an important stabilizing role for the euro. Premier Wen Jiabao said China would continue to purchase debt securities Greek, Portuguese or Spanish.On the other hand, China is the source of rising world prices of energy and power. What she did not properly managed, are its natural resources. She is going through a profound environmental crisis. But this is twenty years I reiterate that China's growth is strong and she changes the world.

After long hesitation, the U.S. stock markets end on a small rise on Wednesday. At the close, the Dow Jones gained 0.27% to 11,723 points, the Nasdaq climbed 0.78% to 2702 points and the S & P ahead by 0.50% to 1277 points. The indices were displayed in the red in early trade but the trend was reversed in favor of two macroeconomic statistics found reassuring:

– Operators have learned earlier this afternoon, good numbers of the ADP survey on employment in the United States. Job creation in the private sector were almost three times more than expected in December. In total, 297,000 jobs have been created over this period, while the consensus expected 100,000.This increase is greatest over a month since 2001.This statistics were scrutinized by investors because they often foreshadow those of the monthly report on employment expected Friday, a major indicator to assess the strength of U.S. recovery.

– Moreover, the ISM index on the service sector stood at 57.1 last month, a highest since May 2006, while economists and analysts surveyed on average had forecast an index to 55.6. This is much more representative of the U.S. economy as the ISM manufacturing sector released Monday.

Retail sales climb

Also on the macroeconomic front, according to Retail Metrics, retail sales in the U.S., rose 3.4% in December over a year. This is their strongest growth since 2006 and the best month of the year for U.S. distribution.The snow storms that have occasionally affected sales, purchases by households after Christmas, were very dynamic.

More good news: the real estate office would have improved slightly last year. For the first time in 3 years, rental prices have increased slightly in the fourth quarter 2010 vacancy rate remains high (17.6%, the highest since 1993) and the prices are low (they were $ 25 average in mid-2008). But the stabilization or even slight recovery, employment benefits to this area.

Operators leave a little later the pessimistic talk of the Fed. In reporting its last meeting, it considers that the European crisis is one of threats to the recovery in the United States.

Facebook and Goldman Sachs in the crosshairs of the SEC

The side of values, Constable U.S. stock, the SEC decided to look at investment bank Goldman Sachs (+0.50% to 173.94 dollars) in Facebook, to ensure that it not circumvent the rules governing non-listed companies, says the Wall Street Journal. Under the current rules, dating from the '60s, when a private company reaches a threshold of 500 shareholders, it becomes compelled to disclose certain financial information. Many commentators saw in the investment of 500 million made by Goldman Sachs with the Russian group mail instant payday loan.ru a way for the community site to gain access to customers of the prestigious U.S. bank, while remaining below this threshold, and freeing itself from any limitations of transparency.Depending on the outcome of its investigation, the SEC could recast the regulations in force, according to the Wall Street Journal. For the regulator, the newspaper said, the challenge is to find a compromise between protecting investors and unlisted companies will have access to sources of capital.

Also note, the year 2010 has been very positive for automakers and marks the return of the Big Three U.S. automakers General Motors (+0.47% to 38.08 dollars), Ford (2.99 to 17%, 90 ollars) and Chrysler, according to figures released yesterday after the close of Wall Street. A total of 11.6 million vehicles were sold in the U.S. last year, up 11% year on year, according to provisional figures from Autodata.Manufacturers should respond to these figures.

Always on the side of values, also after market, the manufacturer of fertilizers Mosaic (2.79% to 77.09 dollars) has published its results for the second fiscal quarter. The group's profits climbed to over $ 1 billion, well beyond analysts' expectations. Turnover was up 59% to $ 2.7 billion is also above expectations.

In addition, the American designer of components for mobile phones Qualcomm (2.08% to 52.03 U.S. dollars) Wednesday announced the acquisition of its partner Atheros Communications (1.45% to 44.64 dollars), a specialist WiFi and Bluetooth connectivity, based on an enterprise value of $ 3.1 billion.

Annual gathering of consumer electronics in Las Vegas

The world of consumer electronics is preparing the opening Thursday of its big annual event in Las Vegas.This market is in full recovery is expected to reach almost one trillion dollars this year. Moreover, the Chinese computer manufacturer Lenovo introduced on Tuesday in Las Vegas a new hybrid version of its IdeaPad computer, a laptop running on Microsoft Windows 7 (-0.31% to $ 28) with detachable screen can turn into a tablet Android (Google (1.15% to 609.07 dollars). In the same sector, the U.S. Court of Appeals reinstated a verdict quashed in September thought that the software giant Microsoft guilty of patent infringement against rival Uniloc, but has not confirmed a significant financial penalty of $ 388 million.

In Europe a heavy presumption weighs manipulation on Google.This is evident first of questionnaires sent to European players of the Web by the European Commission as part of its antitrust investigation on U.S. Internet group.

Areva said on Tuesday the completion of its capital increase reserved to Kuwait Investment Authority and the French State for a total of about 900 million euros and the launch of the issuance of preferred shares without voting rights for a total maximum of 38,311,992.91 euros.

The operation was delayed several times, Monday received the visa of the Autorité des marchés financiers (AMF). It values Areva to 11.5 billion euros on the basis of its own funds and a prelude to a stock exchange listing of shares of French nuclear specialist by the end of the first half of 2011.

In its statement issued Tuesday after the close, Areva recalls how validated last week in general meeting, and stated that the subscription period for shares without preferential voting will be open from 3 to 14 January 2011 inclusive.

Appointment in January

"During this period, the subscription rights will be listed and traded on the regulated market of NYSE Euronext peers," added the group paperless payday loans. The settlement and listing of the preference shares without voting news is expected next January 27.

The state, which now controls nearly 90% of Areva, had initially set a goal to complete a capital increase of up to 15% before the end of 2010 with industrial and financial investors, for a total estimated at between 1.5 billion and 3 billion euros. But he had to resolve itself to participate in the operation up to 300 million euros as part of a fundraising much more modest than expected, even if other operations could come and complete it later.

(With Reuters)

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More tension builds in Cote d'Ivoire and investors panicked. Markets in London and New York, their panic leads to a surge in cocoa whose country is the largest producer and largest exporter. Market Liffe in London, the price of a tonne of brown beans for March delivery climbed on Friday to 1960 pounds, an increase of 5% within two days. Market-ICE NYBOT New York, the contract for the same maturity soared nearly 6% on the only day on Thursday, rising to 2,920 dollars per tonne.

"The army closed the borders by land, sea and air borders. There are now fears that shipments of cocoa are affected, "say experts at Commerzbank. The fear of exports halted at this time of celebration grows.The port of Abidjan, where normally a large share of world demand for cocoa, idling Friday.

Traders also fear wave of violence that threatens to hit all the country after an incident that left eight dead in a permanent party of Alassane Ouattara in Abidjan instant credit report. "The reports of violence have exacerbated concerns about the supply of cocoa, fell Sudakshina Unnikrishnan of Barclays Capital.

Tight supply

This complicated situation is being added to fears of a shrinking supply of increasingly sharp.According to the latest revised estimates of the International Cocoa Organization (ICCO), published this week, the deficit on the global market has grown to 82,000 tonnes in 2009/2010 completed in September.

But "the main crop of the year in Côte d'Ivoire has experienced a rough start so far, despite a good forecast issued before," added analysts at Commerzbank. All these tensions sharpen the appetite of speculative investors who come to feed the rising prices.

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The 787 Dreamliner Boeing collects disappointments. The Boeing could announce seventh delay deliveries of the cargo plane competitor of the Airbus A380.

The boss of the Dreamliner's first customer – with a current order of 74 aircraft – said during an interview with Bloomberg that the failure of the last flight test and suspension tests for is "a major setback for Boeing . The leader considers the effect the fire occurred during a test flight last week will lead to further postponement of the output of the device. Steven Udvar-Hazy said he did not know when the device will be activated.

For its part, Boeing may announce a further delay until the process of investigating the incident on Nov credit reports free. 9 has not been completed.

First deliveries in 2012

An analyst with Morgan Stanley estimates that Boeing should not be able to deliver its first 787 until 2012 because the fire should lead the group to rethink new systems, says the specialist.

Initially, the Boeing 787 was due to enter service in May 2008. With 847 orders, the aircraft with 250 seats is the best selling unit of Boeing.

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The King of pretenders to the repurchase of Conforama, a subsidiary of PPR, is continuing. Time interested in the resumption of specialist furniture, Austrian Lutz would have thrown in the towel, reported the daily La Tribune on Monday. Conversely, shareholders of Purpose, Colony Capital and Goldman Sachs, preparing to make an offer.

PPR is no longer a secret of its desire to separate from its retail brands (Conforama as well as the Fnac and Redcats via La Redoute), to focus on luxury. The transfer of Conforama could be the easiest to carry.

In fact, the British fund Permira would have increased its contacts with potential buyers in order to forge an alliance. In order to finance a costly operation since according to the Tribune, PPR would require a floor price of 1 instant credit reports.5 billion euros.The proposed solution would therefore by an alliance between the two brands, Goal and Conforama, which have always been in direct competition in France. Still, the competition authorities could face wince at such a comparison and require transfers to avoid situations of dominance in certain areas chanlandise. Goal of 215 stores in France with 9.7% market share. For its part, Conforama has 190 (14%), Ikea is in pole position (16.9%).

In exchange, the PPR is evolving to keep pace with the CAC down 0.56% to 114.76 euros in 10 hours.

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Hermes left his reserve Sunday night. Following the surprise announcement of an equity investment of 14 to 17% of its capital by the world leader in luxury, LVMH, the maker of the famous Kelly bags and silk scarves announced that its family shareholders is, with nearly three-quarters of the capital, a large majority and is "perfectly united."

As a reminder, 72% stake in Hermes is owned by 60 heirs of the founder's family. The management states that its status as a partnership limited by shares permitted to guarantee its independence and ensures that "no plan to sell significant capital" is considered.

Statements that are consistent with those of LVMH.The industry leader, which owns brands such as Vuitton, Givenchy and Kenzo, said Saturday, upon the announcement of his entry into the capital of Hermes, not wanting to take control of famous saddler but wanting to be a " long-term shareholder "and" help preserve the family character and French, which is behind the worldwide success of this iconic brand "low fee payday advance.

The operation is now the largest shareholder of LVMH individual Hermes. This operation comes as the market questioned the group's future, especially since the death in May of his former charismatic leader Jean-Louis Dumas.

The action Hermes jumped nearly 90% since January, and treated Friday night at closing 176.20 euros, valuing the company the sum of staggering 18.6 billion euros, or 46 times earnings expected this year, against 21 on average in the luxury sector and 11 companies lambda.

Stock Exchange on Monday morning, the excitement. Hermes shares climbed 4.54% to close at 184.20 euros, while LVMH shares leapt 6.62% to 117.40 euros.

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Oil terminals in the port of Marseilles-Fos are always blocked by the port workers on strike for twelve days. The seven refineries are supplied by the terminals are close to the fuel.

The management of Total-La Mede said that if the strike continued, it would begin operations off Sunday. "Facilities that are already running at least will stop one after the other if there are no solutions found," said Marc Sarda, CGT to INEOS refinery.

The French Union of Petroleum Industries (Ufip) estimated Monday that the blockade of the terminals could cause supply problems in two to three weeks.

But deposits of refined products are now the target of the CGT who wants to organize the shortage of gasoline for "protest against port reform in the oil sector and defend the future of the refinery."

Striking employees of oil terminals and refineries were blocked yesterday morning the oil depot at Fos. "It does not, from Tuesday to block all deposits. It showed what could be done, "warned the union.