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Facebook is expected to file with regulators Wednesday of the first documents for an IPO representing five billion dollars (3.8 billion), Tuesday said sources close to the IFR operation, a subsidiary of Thomson Reuters. </ p> The first community site world selected five bookrunners, Morgan Stanley (lead), Goldman Sachs, Bank of America Merrill Lynch, Barclays Capital and JP Morgan, according to IFR. </ p>

Free business cards is an innovation that is a boon to any businessperson who is on a budget. And don't think that because you're on a budget and the business cards are free that they look cheap.

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Unemployment rose again in October and the outlook is bad, said Sunday the Minister for Employment, Xavier Bertrand, on the eve of the publication of these figures.

The number of unemployed in September reached its highest level since early 2000 to 2,780,500 for category A, the most observed.

"The truth is that the employment figures will not be good," said Xavier Bertrand when issuing the Grand Jury RTL-Le Figaro-LCI.

"And everyone knows they can not be good due to a crisis which does not come out again and even a crisis, the field is growing."

"Unemployment will increase in October," added Xavier Bertrand."As long as the economic situation will not improve, I do not see how the employment numbers will really improve."

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The business service firms in the euro zone shrank even more clearly than expected in October, the debt crisis has sealed new business, increasing the risk of another recession, the monthly surveys show Friday PMI.

The debt crisis, which hurts companies in the euro area, has experienced dramatic new twists in recent days with the political crisis in Greece with the announcement of a referendum on the new European support plan, which threatens drive down the Papandreou government, or to compel the country to leave the euro area.

The deterioration of the macroeconomic situation has led Thursday the European Central Bank (ECB) announced a surprise cut of 25 basis points interest rates at its first meeting chaired by Mario Draghi.

The services PMI calculated based on monthly surveys Markit fell to 46.4 in October against 48.8 in September, its lowest level since July 2009.

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At the opening of a new double top decisive in Brussels, with total uncertainty weighed on Wednesday night on the ability of European leaders to end the debt crisis that hit Europe for two years and now threatens to take Italy and throughout the euro area.

Providing some relief to markets, the future President of the European Central Bank (ECB), Mario Draghi, however, indicated that the central bank would remain present on the bond markets as they become unstable, a sign that was expected for several days.

"The Eurosystem is determined, with its unconventional measures to prevent the malfunctioning of financial markets and monetary block transmission (monetary policy)," he said while stating that these measures were temporary in nature, according the text of a speech in Rome.

This formulation of the transmission of monetary policy refers to the language chosen by the current President of the ECB, Jean-Claude Trichet, to justify the continuation of the redemption of bonds on the secondary market.

These statements are particularly important as they occur when the role of the ECB in managing the crisis is the subject of a debate between the leaders of the European Union.

At the insistence of Germany, a sentence stating that the Heads of State and Government of the single currency "fully supported" the ECB in its action to ensure price stability, "including through unconventional measures in the unique environment of the current financial markets, "was removed from the text of the conclusions.

However, several sources have indicated that the German opposition was less about a fundamental problem on the continuation of the SMP (Securities Markets Programme) as the Berlin will not be seen as giving instructions to the ECB.

GREEK DISCOUNT

A triple agreement must be ratified at meetings of Heads of State and Government of the EU and the euro area: a substantial reduction of debt through a significant effort Greek banks, a bank recapitalization plan and a proliferation of capabilities of the European Financial Stability Fund (EFSF).

But on these aspects, little or no progress has been made since the summit on Sunday.

The divisions are particularly important on the level of discount on securities considered Greek, which should amount to at least 50% but could go well beyond, according to German wishes.

In a speech to the Bundestag, Chancellor Angela Merkel said that the purpose of Europeans would be to bring the Greek debt to 120% of GDP by 2020.

"I will work to find a viable solution," she told the German parliament before they decide on a plan to strengthen the EFSF."We will probably accompany Greece for a period of time."

The report on the sustainability of the Greek debt presented by the troika of international donors – European Commission, ECB and IMF – as a goal of reducing debt through a 50% discount on Greek sovereign debt and public support reassessed to 114 billion euros.

At the summit of July 21, EU leaders had agreed with the banks on an aid in Athens providing a discount of 21% of the securities and public participation of 109 billion euros.

THE CASE OF ITALY

The framework set Saturday on the recapitalization of banks is projected to be endorsed in the same form, that is to say, leaving open the possibility of government guarantees and financing without disclosing the total number of needs of banks – expected around 100 billion euros – according to draft conclusions that Reuters has obtained.

The third and final part of the European response, namely the formula to multiply the capacity of EFSF, however discussions remain open even if the bases of an agreement are there.

France and Germany have agreed to work on a dual mechanism of partial insurance of sovereign debt issued by troubled countries and the creation of a new "special vehicle" that would raise funds with the guarantee for the EFSF repurchase of debt of these countries on the secondary market.

Such a formula would, however, not to communicate a clear figure on the new strike force of the Fund, a sign, however, expected by the markets to judge its ability to help countries like Italy, which threatens to lead to his downfall the euro area as a whole.

European leaders, led by Angela Merkel and President Nicolas Sarkozy, have called on Sunday to present Silvio Berlusconi at the European Council on Wednesday a plan to correct the strong growth and reduce the debt of Italy, of the order of 1,800 billion euros.

But the Italian Prime Minister should finally make only vague promises of economic reform, far from the expected firm commitments.

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AvtoVAZ, the first Russian car manufacturer, 25% owned by Renault, reported Tuesday a net profit increased more than two in the first six months of 2011, thanks to higher sales of Lada .

The net half-year stood at 6.4 billion rubles (151 million) for sales of which increased from 40% to 82.2 billion.

AvtoVAZ, generally considered a good barometer of the Russian car market has elapsed Lada 291,540 over the period, representing an increase of 31.3%.

According to the Association of European Businesses (AEB), the Russian market as a whole is expected to reach 2.45 million new cars sold in 2011, continuing the recovery from a 2009 that resulted in a division by two of the market.

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Bankers have proposed to increase from 21% to 40% discount they are willing to take on Greek debt, while the private sector requires impairment of at least 50%, it was learned Sunday of German banking source.

In July, banks and insurance companies have agreed to contribute up to 50 billion euros to reduce debt through a Greek takeover of paper and an exchange agreement, which amounted to an impairment or discount of 21 %. This is now considered insufficient for Greek debt is manageable.

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The European Commission announced Friday it opens proceedings against Johnson & Johnson and Novartis.

The Commission investigation concerns agreements and abuse of dominant position, the Commission said in a statement.

It will seek to determine whether the contractual arrangements between the two groups could have the purpose or effect of preventing the entry of generic versions of Fentanyl in the Netherlands.

Fentanyl is a potent analgesic used to treat chronic pain.

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Bank of America has issued a third quarter profit Tuesday through various items, but the core business of the bank showed signs of weakness with a decline in profits from loans and higher spending.

Accounting gains and asset sales offset a decline of 15% of profits from loans.

The bank also gave first place to JPMorgan Chase ranked U.S. bank by assets. The action loses 3% in pre-market.

"The figures put forward are entirely different from reality," said Matt McCormick (Bahl & Gaynor Investment Counsel). "Without the adjustments, I think it would have stagnated at best.Net banking income (NBI or turnover, Ed) is particularly low. "

Net income totaled $ 5.9 billion, or 56 cents a share, against a loss of 7.6 billion (77 cents) a year earlier. The comparison included an accounting charge of $ 10.4 billion.

The bank posted a taxable income from the sale of shares in China Construction Bank $ 3.6 billion.She also posted a pretax profit of $ 700 million from the sale of securities and a pretax profit of $ 6.2 billion relating to accounting adjustments.

Against these gains, BofA has suffered a loss before tax of $ 2.2 billion related to capital investment and the "strategic investments" and various other losses related to specific elements for a total of 3, $ 3 billion.

Net banking income stood at $ 10.7 billion against 12.7 billion a year earlier.

The net interest margin stood at 2.32% against 2.72%.The margin contraction was also found at JPMorgan and Wells Faro in the third quarter.

Overall, the total GNP of the bank has grown from 6% to $ 28.7 billion.

The decline in GDP was accompanied by an increase in spending that the bank is working to control this. Expenditure excluding interest expense increased 4.7% to $ 17.6 billion.

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The wealthiest households are the biggest beneficiaries of reductions and tax credits on home care services: in addition to receiving a higher rate of reimbursement, there rely more and larger amounts. A residence of Les Jardins d'arcade Grau-du-Roi.

The tax reduction introduced by the government to expand home care services has mainly benefited the wealthy households, the tax credit introduced in 2007 did not lay only partially so far, says a study published Friday by INSEE .

From 1991, households have reduced their tax half of their spending on home care services in a ceiling, said the National Institute of Statistics. This device, however, concerned that households taxable. In 2006, three quarters of household users of home care services had benefited from the tax cut.But only 3% of 30% of the smaller users had used it against almost all users belonging to the 10% wealthiest households, is the INSEE.

In 2007, the government set up the device tax credit, which would in particular help households pay no tax benefit. "However, this possibility is open only to tax households where all adults are active, and thus to households with a two-earner married couple, an active person without a spouse or an unmarried couple with at least one member is active, which greatly limits the expansion of the benefit of the device, "wrote the institute.

Between 16,000 and 71,000 jobs

Thus, among the household users who do not benefit from the tax reduction, which are mainly the elderly, only 12% received the tax credit in 2007, according to INSEE.So the easiest remain the biggest beneficiaries of the tax benefit, says the Institute, noting that "in addition to receiving a higher rate of reimbursement, greater use and higher amounts" to home care services . In 2007, the richest 10% received 60% of the total tax benefit received by households, a proportion slightly lower only because of the tax credit, since the proportion was 64% in 2006.

The use of home service has grown along with the development of tax legislation, notes the study. It would have doubled between 1996 and 2008 from 6.4% to 12.8%, according to INSEE, which is based on actions reported by households in the social and tax administrations. This development reflects both supported the regularization of undeclared work and employment creation.

INSEE estimates that the introduction of the tax reduction would have led to the creation of 12,000 to 43,000 full-time equivalent jobs and the annual cost per job created would be between 23,000 and 85,000 euros. The new tax credit generates it, "a modest additional cost to the budget," said INSEE. The measure would give rise to the creation of 4,000 to 14,000 jobs at an annual cost per job of between 9,000 and 28,000 euros.

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Three days before the second round, the two finalists of the primary PS tried, during a final debate, to differentiate themselves from each other. In fact, they have few substantive differences on most subjects. Martine Aubry and Francois Hollande, both finalists for the PS primary, clashed in a final televised debate Wednesday, Oct. 12.

Wednesday night was held the final televised debate between Martine Aubry and Francois Hollande. The challenge for each of the two finalists of the primary PS was to hold sway over the other, to ensure victory in the second round of voting, Sunday, October 16. They therefore tried to stand on the issues discussed, but not really succeeding. For if their positions differ in the details, they converge on the merits.Decryption.

Deficit reduction

Martine Aubry attacked Francois Hollande on the golden rule budget, accusing him of wanting to take the measure proposed by Nicolas Sarkozy, while the PS is opposite from the beginning. Holland defended himself by explaining that the next president will have to give a clear strategy for fiscal consolidation. "The deleveraging is necessary if France wants to keep its triple A and independence," said the Correze elected. He promises to bring the budget back to balance by the end of the quinquennium. Martine Aubry, she will not commit to zero deficit in 2017. "The lack of growth and employment is equally important that the public deficit, said the mayor of Lille." If you put everything on reducing the deficit, we will have no balls to boost growth. "The two finalists, however, undertake to reduce the deficit to 3% of GDP in 2013 and master of public debt.

The tax reform

Until the tax reform presented in the socialist project, whose implementation can take time, Martine Aubry proposes to create an additional income tax to 50% in excess of 100,000 euros per unit tax. It also promises to lower the threshold of the ISF, the government increased this summer from 800,000 to 1.3 million euros as part of the reform of the heritage. François Hollande he does not want to hear about these "crafts". "Tax reform must be done right away to apply from 2013. It will be a comprehensive reform of tax on income, capital and assets," said he.Apart from these differences of opinion on the calendar, the Netherlands and Aubry adhere to the same tax reform, ie a merger of the income tax, the CSG, the earned income tax and capital income and broadening the tax base. They also both agreed that there will be increasing the tax burden with them in power.

Youth unemployment

This is the flagship proposal of François Hollande: contract generation, or the possibility for an employer who hires a young and maintains a senior employment in the same position to be exempt from charges. So it is on this that Martine Aubry decided to attack his opponent more strongly. "Today, companies benefit from 25 billion euros per year to reduce charges for nothing. I find it normal to ask them," defends the member for Corrèze."Any action based on exos charges for young people has never worked, Martine Aubry replied. It still does not create a new tax shelter!" It will be understood, the agreement between the two candidates on the contract generation is impossible. However, the creation of 300,000 contracts for the future is consensus. François Hollande just wish the focus on young people, especially in areas where unemployment this population exceeds 40%.

Banks

What about the proposed Arnaud Montebourg to trust the banks? Both candidates responded obliquely, that is to say, emphasizing the need for recapitalization of financial institutions. "Yes assistance to banks, but with an entry of the state capital, the separation of banks and deposits", explained Martine Aubry. "We will see a default part of Greece. As a result, banks will have to be recapitalized.They need public money. We need a presence in the capital with veto power, "added Francois Hollande. The two candidates are in agreement on this issue.

Retirement

Martine Aubry has tried to attack Holland, citing about a Pascal Terrasse, an adviser to the Correze elected, who would have spoken of retiring at 65. Holland denied. "The first decision that I will take on the issue of pensions is to allow those who have paid 41 years and have 60 years to leave," he said. "It means we will restore the legal age." Employees who have accumulated 41 years can retire at 60 "but they will have a discount," he said. Martine Aubry went a law giving the opportunity to go to 60 employees who have had difficult jobs.The mayor of Lille would also restore the retirement age at the full rate at age 65, against 67 years in the reform of 2010.

The public service

Apart from their differences on the proposal from Holland to recreate 60,000 jobs in Education, the member for Corrèze and the mayor of Lille are both willing to remove the principle of non-replacement of an employee out of every two retirement and to go further in the decentralization of public services. However, when it comes to answer more sensitive questions, such as maintaining a minimum service during strikes and upgrading of salaries of civil servants, they kicked into touch: these issues will be decided through negotiations with the social partners.

Protectionism

That was the trick question of the debate: the de-globalization, a theme dear to Arnaud Montebourg.Martine Aubry response: it is a "regulation of globalization" and "Europe stops being naive in globalization, which protects". The mayor of Lille defends 'fair trade'. "If China prevents us to invest at home, we stop too. If China does not respect the social and environmental rules, we taxa." Francois Hollande said the same thing: "an uncontrolled globalization crushes the weak," "I am for an open economy not available." Both are in favor of introducing a tax on social and environmental EU borders. They have however made their proposal by Montebourg to give France a mechanism for unilateral ban certain products to market "in case of aggression by trade unfairly low prices."

The debt crisis in Europe

On European issues, Martine Aubry and Francois Hollande are on the same wavelength.They are for a default RECORDED part of Greece on a portion of its debt, the cost would be borne by the banks to give Athens time to resume growth and emerge from the spiral austerity / recession. Both believe that Europe should move towards greater economic and political federalism. Concerning the entry of Turkey into the EU, they are in favor of continuing negotiations, but state that is a long way to Ankara.

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