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Saab will use BMW engines, a decision of its owner, the Dutch Spyker to revitalize the Swedish brand.

Spkyker, which bought Saab in February at General Motors

for 400 million dollars (293 million), announced Wednesday that the German group would provide engines 4 cylinder 1.6 liter petrol Saab from 2012.

"The BMW engines and innovations in fuel economy are seen as references to the vehicle segment top-end," said Saab CEO Jan Ake Jonnson in a statement.

Both groups are also willing to explore other opportunities, "said CEO Victor Muller of Spyker in the same statement.

The agreement will allow Spyker to have access to new technologies despite major balance sheet problems, which emerge in negative equity of 126 million euros.

The Dutch group, which has never made a profit since its founding in 2000, hopes the long-term Saab sell 120,000 vehicles per year, against 40,000 last year.

BMW, world's leading manufacturer of premium vehicles-end, seeks to strengthen its position as a supplier of engines. In this context, the group has already entered into agreements with PSA Peugeot Citroen and U.S. Carbon Motors.

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The EU member states must reduce their debt-paced multi encrypted if they avoid heavy fines, according to a European Commission proposal to be released Wednesday and is already debate in the Twenty-September

The text should be approached on Monday evening at a meeting of the task force on economic governance chaired by Herman Van Rompuy, after three weeks of intense disagreement on this subject among member states at a previous meeting.

"We do not expect any surprises tonight (…) The proposal is finalized.We must go forward, the fruit is ripe, "told the Commission, where the emphasis is on the complementarity of the device with the U.S. Joint Economic Strategy 2020 and the new rule prior presentation in Brussels of the draft national budget.

This source said that the idea of the Commission was that the share of the debt of a country beyond the 60% of GDP limit set by the Stability and Growth fell to an annual rate of 5% for at least three years.

Otherwise, the country would be punished by a financial deposit equivalent to 0.2% of GDP, which could be transformed into a fine if the situation does not improve.

This rule would be the same for public deficits, that States must reduce to an annual rate of 0.5% to return to equilibrium to avoid proceedings against them, the source said.

Moreover, these sanctions procedures, which concern only countries in the euro area, would open automatically and only a decision by qualified majority of member states, within ten days, would stop the process.

Finally, a control panel of macroeconomic imbalances and competitiveness would be created, also associated with a system of penalties with fines equivalent to 0.1% of GDP of a country.

These deposits were formed through the financial freeze payments of EU funds.

NON-DISCLOSURE

If these proposals meet some of the German demands for greater rigor in the execution of national budgets, many countries remain reluctant to too automatic sanctions or financial penalties.

Others question the criteria that must be used for examining the evolution of the debt.

"Everybody was happy until we talk about specific points (…) Now we go into the concrete, three-quarters of the country are discovering what their problem is discussed," said a diplomat Europe.

The Commission has also angered the Member States in deciding to present his proposals without waiting for the end of their work within the working group chaired by Herman Van Rompuy.

"If what we are doing is useless, then there will be trouble (…) If decisions involved Monday, the Commission will take them back," they said last week in one of the major capitals of euro area.

Another difficulty, Germany wants to link this issue to the discussion which will open on creating a permanent mechanism for crisis management so that sanctions should not be watered down, what to refuse a majority of states.

If the bloc can not reach an agreement on Monday, they will have another opportunity on Thursday and Friday at an informal meeting of the Ecofin Council in Brussels.

A further meeting of the task force will also take place before mid-October, when should normally have expired.

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Unemployment started to rise in France in August after two consecutive months of decline, a disappointing performance contrasts with the higher growth forecast for 2010 after a government second quarter more than initially announced argued.

The number of jobseekers in category A, which includes persons without work and actively seeking work, rose by 15,900 (+0.6%) last month in France, to 2,692,500, after a 0.5% decline in July and 0.3% in June, according to data released Friday by the Ministry of Economy and job center.

His progression over one year stood at 4.9% against 5.4% in late July.

Adding job seekers engaged in a Pool (Class B and C), the number increases by 0.2% in monthly in August (7100 people), after an increase of 0.1% in July and 0, 4% in June, up 7.1% from one year to another.

Recalling that the number of unemployed in category A had decreased by 14,400 in July and 8,600 in June, the Minister of Economy has estimated that the increase in August "does not interrupt the tendency to stabilize the labor market since the beginning of the year. "

Christine Lagarde also stressed that the French economy has re-created nearly 60,000 jobs since the beginning of the year.

This underperformance on the unemployment front contrasts with the recovery of growth in the second quarter announced earlier.

GDP growth in France has reached 0.7% during the period from April to June against 0.6% previously announced, according to the detailed results of quarterly national accounts published by INSEE.

The Prime Minister said on this basis that the growth of the French economy is expected to exceed 1.5% this year and reach 2% in 2011.

"Our growth is expected to exceed, I say now exceed 1.5% by 2010 and reach 2% in 2011," said Francois Fillon at the conclusion of the UMP parliamentary days in Biarritz.

However, economists have highlighted the weakness of growth in household consumption in the second quarter, attributing the uncertainties related to unemployment.

Household consumption, which represents 60% of GDP, rose only 0.3% in the second quarter from the previous quarter when it had stagnated.

The growth of household disposable income has, however, accelerated to +0.9% in the second quarter after 0.6% last quarter and their purchasing power has sharply accelerated to +0.6% +0.1% cons.

At the same time, the savings rate rose from 15.8% to 16.1% of gross disposable income.

"Until the situation will not really improved on the employment front, the French will be tempted to feed their precautionary savings leaves to suppress their desire for consumption," warned Alexander Law, chief economist at the institute Xerfi.

Assuming a growth forecast of 1.5% throughout the year with a slowdown in the second half, job center provides 65,000 net new payroll jobs this year, with virtually none in the second half.

In terms of number of job seekers, job center expected to have increased by 33,000 over one year to 2.67 million people in late 2010 in Class A.

For 2011, job center, which retains a growth assumption of 1.5%, expects 76.000 net new payroll jobs and a decline of 39,000 in the number of jobseekers in category A.

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The index of leading indicators, which foreshadows the general trend of the U.S. economy for the months ahead, rose more than expected in August, but the weakness of this increase suggests that economic growth will slow in the months to come.

The Conference Board, the employers' organization that calculates the indicator, announced that its index rose 0.3% last month, against an increase of 0.1% (confirmed) recorded in July and -0.2% (revised from -0.3%) in June.

Economists polled by Reuters expected a rise of 0.1%.

There will be a slight change in economic conditions in the coming months, said Ken Goldstein, economist with the Conference Board.

The snapshot index, which measures current economic activity, remained unchanged in August after rising 0.1% in July (revised from +0.2%).

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The Spanish group Inditex, which owns the chain of ready-to-wear Zara, reported Wednesday a 68% increase in net income in the first half, well above expectations, thanks to positive currency effects and a rebound in demand.

The world's largest distributor of clothing, which launched this month an online store for its flagship brand Zara in six countries, published a six-month net profit 628 million euros, while analysts polled by Reuters expected 573 million only.

The net turnover of the group stood at 5.525 billion euros in the first half, according to the average forecast was for 5.538 million euros.

Sales were up 10% in local currencies for the period 1 August to 20 September.

"The surprise is in gross margin," said Anne Critchlow, analyst at Societe Generale."This is partly due to currency effects (…) but it also shows a recovery in consumption."

Gross margin stood at 59.4% of sales.

Inditex also said it would extend the second half of the online sales of its range Zara five other countries, Austria, Belgium, Ireland, Luxembourg and the Netherlands.

The action Inditex lost 2% to 57.00 euros in early trading on the Madrid Stock Exchange, after touching on Tuesday a year earlier to 59.2 euros.

The group has been spared by the economic downturn experienced by Spain, where Inditex carries about a third of its turnover, and the title took about 36% since the beginning of the year, outperforming 16% of the European sector index.

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The recession in the United States ended in June 2009, making it the longest suffered by the U.S. economy since the Great Depression of the 1930s, said Monday the National Bureau of Economic Research (NBER).

This body of economic studies, considered "the arbiter of recessions" in the United States, said that this finding resulted from the examination of various data on gross domestic product (GDP), employment and income households.

His committee for dating business cycles, consisting of academics, is known for taking his time before making the start or end of a recession.

He said Monday that, in this particular case, he had waited to have the revised data on national income, published August 27 in order to have a clear vision for the evolution of economic activity 2009.

He had failed in April to announce the end of the recession and some of its members had said at the time be concerned about the risk of a relapse of the economy.

On Monday, the NBER said that any further decline in the economy would be a second recession, not a prolonged recession that began in December 2007.

"This decision is based on the length and strength of the recovery to date," he added.

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The Irish Department of Finance and the International Monetary Fund (IMF) sought to calm markets on Friday after a section of the Irish Independent suggesting a possible IMF aid had worried investors.

Following this section, the CDS (Credit Default Swap) of Ireland, which measures the cost of insurance against default risk of sovereign bonds in the next five years, reached a high of 425 basis points ( pdb), or 38 basis points more than in the beginning of the meeting, according to Markit, which monitors the evolution of these instruments.

In addition, the premium investors demand to hold the Irish debt to ten years rather than German bonds of similar duration has reached an unprecedented record since the inception of the euro.

The yield spread between the two sovereign debt to ten years has reached 410 bps, up 31 basis points before falling to 390 bps after the Finance Ministry statement.

Misinterpretation

This has also weighed on European stock markets, which closed lower, while to Allied Irish Banks and Bank of Ireland fell 11.05, respectively, and 7.07%.

The Ministry of Finance criticized the tenor of the article in the Irish newspaper, while the IMF told Reuters he did not think the country needs financial assistance, instead welcoming the efforts made by the Dublin consolidation of its banking sector.

"There is absolutely no truth about the rumor suggesting outside help.It is based on misinterpretation of a research note, "said a spokesman for the Ministry of Finances.

The Irish Independent has relied on a note from Barclays Capital, estimates that Dublin might need to seek outside help if the financial sector were to blame for new or unexpected losses if macroeconomic conditions continue to deteriorate more than expected Over the coming months.

"The study is much more nuanced than what is reported by the newspaper," said Geraldine Concagh, however, Allied Irish Banks economist.

"The market is very nervous right now."

COMFORTABLE CASH

The Barclays report underlines that the Irish Treasury has comfortable liquidity in the short term, which should provide the government to seek the European Union (EU) and the IMF in the immediate future.

But the combination of the bailout bill of Irish banks to sluggish growth and a budget deficit, which, if we compare it to Gross Domestic Product (GDP), is the highest in the EU, has revived Fears of an outbreak of new debt crisis.

This situation has also put pressure on Finance Minister Brian Lenihan so that it increases the efforts of Dublin to restore order in the country's finances.

Analysts estimate that the budget deficit could reach Ireland this year about 25% of its GDP, taking into account extraordinary expenses related to bank bailouts.

However, even without this bill, the Irish budget deficit expected to reach about 10% next year on an adjusted basis, while the EU attaches to the 3% limit in this area.

The awarding of an amount that could reach 1.5 billion euros in sovereign debt next Tuesday should be a test for Ireland for the trust that grants investors.

But analysts say that until the final amount of the bailout bill Anglo Irish is not known, investors will continue to be cautious vis-à-vis Dublin.

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Kingfisher, Europe's number one for DIY and interior design, on Thursday posted a first-half profits above expectations, supported by cost reductions and reorganization of its activities that should help mitigate the impact of climate not conducive to consumption.

The British group, which owns among other things teaches B & Q UK and Castorama and Brico Depot in France, achieved the 26 weeks to July 31 profit before tax and exceptionals of 354 million pounds sterling (425 million euros).

Financial analysts on average expected a profit of 342 million pounds.

"The immediate outlook for household consumption are fragile, particularly in the United Kingdom, where they are likely to remain difficult for some time," said Chief Executive Ian Cheshire.

"The continued growth of our profits will be handled by our well-established internal initiatives."

All UK retailers are currently facing the difficulty the United Kingdom to emerge from a long and severe recession, coupled with the prospect of budget austerity measures that could weigh on demand.

Kingfisher, which operates over 830 stores in eight countries, reported a 1.3% decline in sales on a comparable basis in July, reflecting poor performance in Britain.

But its gross margin increased 140 basis points in the UK market and 100 points in France, the group has continued to reduce costs and centralize its purchases, more and more frequently performed in low-cost countries manufacturing such as China.

Kingfisher holds its semi-annual interim dividend to 1.925 pence.

The action Kingfisher gained 3.06% to 225.6 pence in early trading while the London Stock Exchange.The stock has underperformed the index Stoxx 600 European distribution sector by 12% since the beginning of the year.

During Wednesday's closing, she valued the group of five billion pounds.

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The manufacturer of luxury cars Daimler will expand its partnership with Renault and Nissan to develop electric vehicles to comply with tougher rules to curb CO2 emissions.

The emission standards become increasingly stringent in the fight against global warming.Brussels set for 2020 to about 95 grams per kilometer limit carbon dioxide emissions for new cars sold in Europe.

"We will not be able to fulfill the goal of 95 grams of CO2 in 2020 without electric vehicles powered by batteries or fuel cells," he told Reuters Thomas Weber, head of the German group's development.

But these new technologies are still in their infancy and that "it is not easy to earn money also with these vehicles," he added.

For this reason, Daimler decided to expand its current partnership with Renault and Nissan electric vehicles, hoping to reduce costs through economies of scale.

In April, Renault-Nissan and Daimler have announced an alliance which they expect significant cost savings and sharing of technologies and projects. Among the projects discussed included a joint electric version of the "Smart", the launch could take place in 2013.

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U.S. stock indexes opened sharply higher Monday, supported by encouraging Chinese statistics for the recovery and the agreement on Sunday on the solvency of banks.

Minutes after opening, the Dow Jones 0.74% to 10,539.81, the S & P 500 advanced 0.92% to 1,119.81 and the Nasdaq was up 1% at 2264.88.

Several Chinese statistics published in recent days have exceeded expectations, confirming the dynamism of the major emerging economies of the world.

Moreover, central bankers and regulators gathered in Basel Committee finalized Sunday a set of rules that will force banks to raise more capital superior to withstand a financial crisis without state support .

Credit institutions will have more time than expected to build these reserves and comply with new rules.

This context is favorable to banking shares.JPMorgan, Citigroup and Bank of America earned between 2 and 3.5%.

In terms of mergers and acquisitions, the market reacts to the announcement by Hewlett-Packard's acquisition of ArcSight, a computer security specialist, for 43.50 dollars per share.

HP was almost unchanged while qu'ArcSight was up 24.84% to 43.82 dollars, so above the price offered by the software giant.

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