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U.S. stocks finished Friday in a disorganized, investors wanting to believe in breakthroughs in the Greek record while being cautious on the eve of a weekend of three days.

The Dow Jones gained 0.35% or 45.79 points to 12,949.87 points while the Standard & Poor's 500, widest, won 0.23% (3.19 points) to 1361.23 points. The Nasdaq composite ended down 0.27% or 8.07 points, to 2,951.78 points.

For the week, the Dow gained 1.2%, the S & P 1.4% and Nasdaq 1.7%.

U.S. markets are closed Monday for President's Day.

Greece looks set for Monday the release of a new plan to help the EU and the IMF, despite the doubts that persist among its partners in the euro area about the pace which it manages to reduce its debt.

"It is beginning to realize that all the negative feeling that we had four months ago on a global depression that would be provided by Europe (…) quickly becomes wrong when we look economic indicators continue to show pretty good, "said Ryan Detrick, at Schaeffer's Investment Research. 

Traditionally, the stock market also marks a break towards the end of the period of publication of company results. Investors need to digest all this news. According to data from Thomson Reuters, 404 of the 500 companies in the S & P 500 have already published their results and 64% of them posted higher profits laughing expectations.

Since the beginning of the year, the S & P gained 8.2%.

Values, Heinz and Campbell Soup have been awarded respectively 4.5% and 2.6%. Both groups have food delivered results above expectations.

In contrast, General Mills, which lowered its forecasts, lost 3.6% to 38.34 dollars.

Gilead Sciences fell 14.25% to $ 47. The pharmaceutical group, which last year spent 11 billion dollars (8.36 billion euros) to buy Pharmasset and its experimental treatment against hepatitis C, saw its stock plunge after inconclusive results of this product.

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Faced with huge losses, Air France wants to question the social arrangements of the company. Hence the concern of some employees have forced management to interrupt a meeting of the works on the subject. Interview with Beatrice Lestic, secretary general of the CFDT Air France. .

Days off, holidays, bonuses, benefits … Some benefits of employees of Air France could fly well. Just as the organization of work could be reviewed. Indeed, management has initiated the process this morning to denounce the social agreements of the company with a meeting of the Central Works Council (CEC) headquarters at Roissy. A meeting that quickly petered invaded by hundreds of employees who have forced the leaders to leave the room. The fact remains that the procedure "Reconstruction of a conventional framework" of about 50,000 employees is launched. With the CEC, the first after the announcement of the plan in mid-January drastic savings over three years (2,000,000,000), Alexander Juniac opened this high-risk project that it considers "essential". "On the basis of a new economic model (competition from" low cost "and companies in the Gulf), we must build a new social model," said il.Ce worries the unions. Interview with Beatrice Lestic, secretary general of the CFDT Air France.

The termination of these agreements social worries you it?

Yes, we are very concerned, if not angry. Direction points to several chapters of collective agreements very important as pay, holidays etc.. Problem: it is very vague on the points she wants to put on the table. There is a real problem of visibility. We have to meet a priori on February 20. On that date, then we will know specifically what management wants to put in this new framework agreement. If the unions sign the new agreement, will follow a negotiation phase, which will be concluded in June. For now, we do not impugn anyone's motives, we wait. But one thing is certain, if management compensation affects the climate will tend seriously. We will enter a phase of complicated dialogue.

Some advantages of Air France employees …

Advantageous remuneration days fériésSix child days maladeSix day fractionation (additional leave) Airline tickets at reduced rates

What are the main points covered by management?

She denounces partially collective agreements, some chapters. In mind, those on employment, the reorganization of business, career. Another chapter denounced the compensation, but we do not know the points covered in this chapter. The management is not explicit, this leaves room for all the fantasies … Since the beginning, management says it will not affect the gross wages, payment for public holidays, but we were sure would! If the idea is to hit the pay, it will be a major problem, it's just impossible. Another concern, that on holidays. At Air France, employees may take their leaves so divided, they are entitled to six days of bonus added to annual leave, against three in the collective agreement in the air. This could be questioned. Just like the days off, it seems that this is subject to termination.

For management, this renegotiation of the agreements should help "reduce business costs." Is it a credible argument?

Of course we are all aware of the financial situation of the company and the need to change things. But we will get nowhere without an overall vision of an industrial project. Cost reduction at the expense of employees alone is not the panacea to all problems. You can always revise texts, it is easy, but then they must be justified …

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The European Central Bank did not change interest rates Thursday, but the markets are waiting to see if she is willing to lower them again in the coming months or if it will remain in the waiting, the one or the other being determined by the attitude Statistical to come.

The refinancing rate remains as it was expected at 1.00%, the deposit facility at 0.25% and the marginal lending rate to 1.75% .

The ECB president Mario Draghi explain this decision at the regular press conference starting at 14:30.

It is likely that questions posed to them about what the central bank could do for Greece. But it may well also he does not say anything until the situation is not resolved.

It is also possible that Mario Draghi announces no new support measure given that the ECB will launch at the end of a second refinancing operation three years after success of the first of its kind, in December, which resulted in a record cash injection of 489 billion euros.

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Sony suffered an operating loss of 91.7 billion yen (910 million) over the period October-December, disappointing result for a quarter usually lucrative, due to the force the yen, sluggish economy and flooding in Thailand.

Analysts expected a profit of 8.8 billion yen, according to Thomson Reuters I / B / E / S.

The Japanese electronics giant also said Thursday expected to be in red on all of its fiscal year ending in late March, weighed down by chronic problems of business television and aggressive competition from rivals in South Korea as Samsung Electronics. 

Sony expects annual operating loss of 95 billion yen, while the market was expecting a profit of 8.2 billion yen.

These results worse than expected underline the magnitude of the task facing the new boss of the group, Kazuo Hirai, whose appointment was announced Wednesday with the aim of giving back to the group Japan's leading role in consumer electronics.

The title Sony closed down 2.64% just before the publication of these figures.

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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>

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Fitch believes that the "AAA" rating of France would be in danger in case of intensification of the crisis and a worsening economic slowdown. The rating agency currently maintains its stable outlook. The offices of the rating agency Fitch in New York.

The rating agency Fitch Ratings said Wednesday that France could see its "AAA" rating, the best possible challenge for the aggravation of the crisis in the eurozone. "The AAA of France would be in danger" if the crisis worsens, then that would cause a worsening economic slowdown in France and Europe would force the country to help its banks, Fitch writes in his analysis .

According to the agency, France deserves its AAA today but could be forced to further action on the budget if it is to meet its deficit target of 3% of GDP in 2013, as pledged by the government.

The new Fitch report is published as France, rated triple-A from three major agencies, has suffered in recent days in the bond market, seeing the difference between its rate to 10 years and those of Germany to a level record since the inception of the euro area. Monday, rating agency Moody's had estimated that a rise in bond yields and French economic growth prospects deteriorated might have a negative impact on the debt rating of France.

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The rating agency said it raised its rating of Brazil by providing a rating of BBB-from now on. Problem: the note of Brazil it was already before the announcement of Standard & Poor's … The rating agency Standard

After the "true-false" degradation of France, Standard and Poor's has released a new blunder, this time on the note of Brazil. The agency said in a statement that as Brazil saw its rating rise by one notch to BBB-reaching. But she was quickly forced to change the title. And for good reason: the note was Brazil's BBB-by S & P as well as intervening!

That said, the agency has not completely wrong. It has revised upwards the note of Brazil which is now credited with a BBB by the agency. She also announced clearly in the text it submitted to some subscribers. The title was therefore a typo.But the mistake the previous recall very recent in France. Standard and Poor's came under fire of criticism last week when she accidentally announced the loss of triple-A of France. Because in these times of extreme market volatility, the S & P errors can have serious consequences for the States …

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Bayer said Wednesday that its turnover in Asia is expected to increase 60% by 2015, thanks to sales of its treatments against cancer and cardiovascular disease as well as its industrial plastics.

The first German pharmaceutical company, which launched the production of Aspirin in Shanghai in 1936, said targeting a turnover of over EUR 11 billion in Asia, including six billion in China.

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The International Monetary Fund does not share the analysis of European authorities on the debt sustainability Greek and wants to know the outcome of EU summit Sunday in early November before deciding to pay the sixth tranche of aid to Athens, said Thursday more European sources.

The IMF is with the European Commission and European Central Bank one of the components of the "troika" of international inspectors to ensure the implementation of an ambitious program of reforms in Greece in exchange for financial assistance .

"The IMF believes that the other members of the Troika are too optimistic," said one source.

A second source said that "the IMF (wanted) absolutely first see what is decided in the Eurogroup and the European Council", referring to Friday and Sunday meetings of finance ministers and heads of state and Government of the euro area.

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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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