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The Casino Group will buy the assets of Thai Carrefour said Sunday night in a Reuters source familiar with the matter, confirming information from the website of the newspaper Les Echos.

"Carrefour will announce the sale on the night at Casino of its assets in Thailand," it was said the same source, however, by refusing to disclose the amount of the transaction.

According to the website Les Echos, Carrefour will sell its assets in Thailand Casino for an amount between 800 and 900 million euros. A Carrefour spokesman declined to comment, while no one was immediately available at Casino.

Les Echos indicate that the agreement, even informal, was found Sunday morning.

With this acquisition, Les Echos noted, Casino will become one of the two leaders, with British retailer Tesco, Thailand.

Wall Street opened down on Friday, hurt by the commodities sector.

A few minutes after the start of trading, the Dow Jones yielded 0.49% at 11,228 points, the Standard & Poor's 500 index 0.58% to 1206.53 points and the Nasdaq Composite 0.45 to 2544.11 points.

The commodity prices are affected by rumors of an increase in Chinese interest rates, which affects mining stocks and oil. Alcoa and the title yielded 1.37% on opening.

Boeing continues its decline, losing 1.45%. The manufacturer announced Thursday that the incident occurred on Tuesday aboard a Boeing 787 during a test flight was due to a failure of an electrical panel.

Nvidia earns 6.42%.The computer chip maker expects a turnover increase for the current quarter and believes its components for mobile phones will take off next year.

On all sides, voices calling for reform of international monetary system. Nicolas Sarkozy makes a priority of its presidency of the G20. On the eve of the summit in Seoul, many tracks are on the table.

Redesign the global monetary system. That is the mission of France, who is about to become chairman of the G20 on Friday. An ambitious mission while monetary tensions continue to escalate.

The current system does not work

The least we can say is that nobody is happy the Americans accused the Chinese undervalue the yuan, which argue that it is the Americans who favor the weaker dollar and flood the markets of liquidity. .. The Europeans, deprived of political exchange, they, helpless, a rise of the euro completely uncorrelated with the European business.The result is a "currency war" through competitive devaluation and volatility of exchange rates, a real barrier to trade, investment and thus to global growth.

The current system poses three problems actually. Starting with the dual status of the dollar, both main reserve currency and domestic currency. Not only the United States are the only ones able to finance their deficits without limit, but all countries are to thank you for their domestic monetary policy: if the dollar falls, the stock value drops.

The second problem is the vast imbalance between states lenders and debtors. Emerging countries, foremost among them China, mass effect of massive reserves in dollars, for two reasons: in case of crisis and abrupt withdrawals of cash, abundant reserves can absorb the shock.Then earn dollars avoids the assessment of the national currency and stay competitive in exports. But this creates a vicious spiral of American households live on credit, the Chinese finance them by buying their debt and earn dollars, this mass of liquidity is flooding the world, leading to lower interest rates, and encourages Americans to borrow to consume …

The idea of Sarkozy: the basket of currencies

To stabilize the system, Sarkozy hopes to promote the international use of Special Drawing Rights (SDRs), the IMF's unit of account created in 1969. The value is determined each day by a basket of major international reserve currencies (dollar, euro, yen and pound), prices for raw materials such as DST would be much less volatile. The idea is not new.By March 2009, Zhou Xiaochuan, governor of China's central bank said that SDRs should replace the dollar as the main reserve currency. "This would be for China and its reserve coverage against the downward trend of the dollar," said Benjamin Carton, an economist with the CEPII. But this system is unlikely to be adopted. In fact, SDRs have never been successful: they constitute less than 5% of world reserves and are not a circulation coin financial privacy. "The whole point of the dollar as reserve currency is that it is supported by the capital market the most liquid of the world," says The Economist. To make the SDR real assets reserve should be, as advocated by Joseph Stiglitz, the IMF's becoming a true world central bank, responsible for managing global liquidity. In sum, there should be a world government. It is still far away.However, it is conceivable to increase slightly the share of SDRs in the reserves of emerging countries.

Monetary cooperation

Increased cooperation between currency areas could lead to the formation of bands of fluctuations among major currencies, limiting them to shots of the exchange rate. Europe had experienced such a system in the '70s with "the European Monetary Snake". This option is "less a gasworks that the development of DTS, but it is still unrealistic," says Benjamin Carton, because it implies that States undertake to intervene in the foreign exchange market if their currency deviates too the target area. But if this is contrary to the interests of the domestic economy, they will not do. "

The trail of gold

Robert Zoellick, the head of the World Bank, made a surprise Monday in calling for a forum in the Financial Times a return to gold as a benchmark for currencies. The advantage of such a system is that it "liberates" the value of currency manipulation by governments. "Money is thus 'depoliticized', says Martin Wolf. Because the government still abusing the right to create money." Even central banks supposedly independent are in fact under heavy pressure from the executive … But this option is unrealistic. First, there is not enough gold reserves to support the global economy. Especially, "attach price levels to an anchor that central banks can not move if necessary may cause deflation, as shown by the 15 years that followed World War I," recalled on his blog the Economist Brad Delong.It's not for nothing that the system has been tried and abandoned.

The solution Geithner: rebalancing of current accounts

The American approach is to take the foreign exchange problem at its root: the imbalance of current accounts. The U.S. Treasury Secretary Timothy Geithner wants to limit to 4% of GDP surplus or deficit of the G20 countries. If the Chinese, Germans and India refuse any form of numerical targets, countries may nevertheless agree to make an effort in this direction. To convince emerging countries to accumulate less reserves should be such as ensuring access to IMF funds in times of crisis. Except they still continue to accumulate dollars to avoid currency appreciation. That is why some feel the need for the IMF to impose sanctions on countries that manipulate their exchange rates or accumulate too much excess.But experience shows that international sanctions are never applied, it just has to see the Pact of Stability and Growth in Europe.

Lagarde's realism: more concerted monetary policy

The idea, less ambitious but more realistic, is defended by the French Minister of Economy Christine Lagarde. Sarkozy promised the fall of 2008 that would put the system flat, but "it is not fundamentally necessary, says economist Cepii. The international monetary system is essentially where the contradictions are expressed system of global growth. There will always be problems. " Today, the United States and Europe are worried about growth. This is to intensify efforts for greater coordination to resolve problems on a case by case basis.

More than 400 thousand sites are closed on Tuesday. The strongest social movement since the fusion ANPE-Assedic.

The strike at the employment center, the call to all unions against working conditions and job losses, was followed by Tuesday, November 9 by 36.26% of the 50,000 employees under management and 50% of them by unions, the strongest movement since the merger ANPE unemployment benefits. According to figures provided by both management and unions, more than 400 sites over a thousand are closed.

The CGT and the FSU-Snu (first union) have announced around 50% of strikers. The ULSD has indicated that 17,959 workers are on strike and said that 407 branches are closed. For their part, the CFE-CGC and UNSA have announced 40% of strikers.The management had announced last week that the abolition of 1,800 jobs by end 2011 in the public institution responsible for monitoring job seekers, born of the merger two years ago, the ANPE and unemployment benefits.

The unions had immediately denounced "a real attack against employees." Tuesday's strike is to protest against both the "working conditions deteriorated," the "exploding workloads" and abolition of posts in 2011. "About a salaried employment center in two is striking. This is the largest mobilization since the merger. There is an obligation of management response," he told AFP Philippe Sabater, of Snu-FSU.

"The situation has improved"

Asserting that "some areas are close to or exceed 50% of strikers – Aquitaine, Auvergne, Brittany, Languedoc-Roussillon, PACA Pays de Loire, Rhone-Alpes – CFE-CGC and UNSA have held that" the staff 's is highly mobilized and management must hear and respond to the malaise. "FO is the" paradox "which is to reduce the number of Cluster Employment in a context of" rising unemployment ", while job seekers need to accompaniment. "personalized monthly tracking of job seekers no longer exists," regrets the union.

For its part, the Chief of employment center, Christian Charpy, acknowledged Tuesday that there are "efforts to be done in the personalization of support", although the situation has improved, he said. A trade union delegation of employment center must be received at the beginning of the afternoon by Mr. Charpy.

On 8 June, a strike called by four unions also on working conditions was followed by nearly 19% of staff, in management and 25% by Snu. 20 October 2009, another strike called by seven unions to protest also against working conditions deteriorated, was followed by 34.5% to 40% of employees, according to sources.

Participation in day of protest against pension reform, Saturday, was at half mast. The unions will meet today to decide lde following the movement.

After participation in Bern Saturday, November 6 to protest against pension reform, the Inter-seek Monday preserve its unity by seeking new forms of mobilization, in a meeting with the lively debates ahead.

Unions agree that opens a "new sequence", due to the adoption of the law. Participation in reflux forced them too, with Saturday for the eighth day since the beginning, between 375,000 people (police) and 1.2 million (CGT) on the streets.

For the government, the subject of pensions "is somehow behind us", as reiterated on Sunday the Secretary of State Nathalie Kosciusko-Morizet.But Inter has not said its last word, and on Thursday evening she had set a new "rendezvous" mobilization during the week of November 22 to 26, whose terms must be defined one hour payday loans Monday.

FP, which stands apart from the Inter-seven (CFDT, CFE-CGC, CFTC, CGT, FSU, Partners, UNSA), openly spoke of the "divisiveness" that "have existed since the beginning" between organizations principles often conflict. Two trends are emerging among those in favor of continuing the movement and those wanting to turn the page and move on to other topics.

Thus, the general secretary Bernard Thibault of the CGT, determined to "continue to challenge the law even if it is enacted," will end on November 1 "day trade". Remains to be seen whether he is prepared to call strikes.To address its base and two federations (railroad and food) that grow at a more rapid mobilization, or around 16 November, Mr. Thibault claimed Saturday that "it is by a continuous fire from local initiatives, professional that we will maintain the balance of power ".

CGT Will she do it alone?

For its part, the leader of the CFDT Francois Chereque Saturday also sent a strong message, ensuring that his confederation "is always" in "this unity movement" and "participate" in a "new day of action in late November. The day before, however, the reformist leader seemed to step aside, seeing the issue of pensions "away" and referring to the presidential election of 2012.

Besides the two major power plants, the range of positions is still wide. At the peak, FSU and Solidarity still want to make a splash in late November.The first proposes a "national event" in Paris, the second one or more passes, which provide "visibility" and tighter "interprofessional relationships, intergenerational" 500 payday loans .

For its part, refuses TF a "strategy of exhaustion" with "demonstrations until Christmas" and regrets that there was no dispute in this appeal to the general strike. For their part, CFTC, UNSA and CFE-CGC call for more "imagination" on the forms of mobilization and call up to the employers to resume the dialogue.

Even before the opening of discussions on Monday night, something seems to be accepted between unions, the back, beyond the issue of pensions, claims on employment, wages and working conditions.And if the CGT would carry out his threat to go it alone in pursuit of the "battle on retirements," this is "not the first time" it can be distinguished, after Jacques Voisin (CFTC) which puts the discord: "It would not mean that Inter would have died."

The Bank of Japan (BoJ) has refrained from any further monetary easing Friday, resisting for now the temptation to expand its program of asset purchases to match the Federal Reserve.

The Fed announced Wednesday his intention to $ 600 billion of redemptions of government bonds more to revive growth, but the BOJ did not follow his example and is the third major central banks this week to keep its course after the European Central Bank (ECB) and Bank of England (BoE) yesterday.

The program announced by the Fed was not overly impressed the markets, which avoided a general liquidation of the dollar and a backlash by soaring yen, which could force the hand of the BoJ.

The National Bank of Japan has therefore simply does not change its rates, which are close to zero and imitating the Fed, the ECB and the BoE, and stick to its own buyback program assets of 5,000 billion yen (43 billion) announced last month.

This program will start early next week with redemptions of government bonds. The central bank also will acquire real estate investment fund (REIT) and ETFs (exchange-traded funds) that are linked to indexes of the Tokyo Stock Exchange.

"What was announced is not enough compared to the development of the flexibilities of the U.S. central bank," said Susumu Kato (Credit Agricole, Tokyo)."The BoJ should do the same to fight deflation and prevent further yen appreciation, we think it will do in the months ahead."

LARGER RANGE OF ASSETS

In fact, highlighting the difference in scope between the programs of the Fed and the BoJ, the Minister of Economy Banri Kaieda suggested that the central bank may be requested in future to make a new gesture of easing.

BoJ governor Masaaki Shirakawa of a any way signaled that the central bank was ready to increase its repurchase of assets if the economy deteriorates further.

The yen edged up after the decision by the BoJ, suggesting that some traders had expected something else from the central bank.

The BoJ had eased monetary policy in October, using a new range of 0% to 0.1% in its key rate, pledging to keep rates near zero until deflation has disappeared and in announcing parallel to its repurchase of assets.

The BoJ on Friday gave details of the latter: it will purchase from REITs and rated AA and ETFs linked to indexes Topix and Nikkei 225. It will also take on corporate bonds rated BBB-and commercial paper.

This plan has left some skeptical, wondering if a boost from $ 60 billion would be enough to revive an economy that weighs 5,000 billion dollars.Others felt that redemptions of bonds goes all-in the style of the Fed may have been the latest weapon available to the BOJ to lower the yen.

The central bank had noted to have drowned in the liquidity of banks from 2001 to 2006 failed to break the vicious circle of price declines, low demand and stagnant production and investment.

She explains that its new strategy is more targeted, it aims to reduce risk premia and to encourage private investment by focusing on a range of assets larger than the Fed, including less conventional instruments and therefore more risky.

The Paris Bourse started slightly higher Friday, after crossing the 3,900 points the previous day in the markets that greeted the new flexibilities announced by the Federal Reserve. Investors await U.S. employment figures this afternoon.

At 9:35, the CAC 40 index shows a gain of 0.25% to 3926.46 points, still at its highest since April.

Lafarge loses 1% after its quarterly results. The company said it did not intend to carry out a capital increase

Alstom losing 1.8%. Societe Generale rose sale on the track in the wake of its results.

Renault takes 2.7%, highest increase of ACC, the results of Nissan.

TF1 gained 4.25%, largest increase in DTH.JP Morgan raised its recommendation from "neutral" to "overweight".

Scor is 3.6% after an improvement in its net profit in the third quarter.

Other major European markets are stable or up slightly: London is 0.15% and Frankfurt 0.1%. Of the European indices, the EuroStoxx 50 and the Eurofirst 300 are stable.

The dollar is trading at more than 1.42 per euro and U.S. light crude was steady at 86.53 dollars a barrel.

Faced with the persistent weakness of growth, particularly in the U.S. and the Eurozone, major central banks should wait until 2012 to trace their interest rates, the OECD said on Wednesday.

Ten-day summit of Heads of State and Government of the G20 in Seoul, the Organization for Economic Cooperation and Development has also called for continued fiscal consolidation, highlighting the risks associated with the rise of sovereign debt .

She also called for coordination of policies to reduce global imbalances, underscoring the risk of unilateral intervention in currency markets triggering a protectionist backlash.

"The global economy is recovering, albeit at a slower pace than earlier this year," says the OECD.

"Today we can say that the slump recedes.It grows slowly, but growing, "he said to reporters the chief economist of the organization, Pier Carlo Padoan.

"The consumer is doing a little better, investment is doing a little better, international trade is recovering, so a number of advanced economies benefit of maintaining a strong growth in emerging economies and demand for their exports, "he added.

However, the OECD believes that "the task that are facing policy makers is the passage of a policy against the crisis to a policy that would restore confidence and stability."

FOR FISCAL CONSOLIDATION "CREDIBLE"

She therefore advocates the use of "all the major levers of economic policy – fiscal, structural, financial and monetary".

On this last point, "because of the slow growth in the U.S. and the eurozone (…), the normalization of interest rates should not really happen until the first half of 2012, a pace that allows monetary policy to remain accommodative, "said she.

The OECD expects 2% to 2.5% growth on average in 2011 in the "OECD", which includes all member countries, against 2.5% to 3% expected for this year.And for 2012, it anticipates a return in the range of 2.5% to 3%.

In the euro area, growth should not exceed 2% this year and next year, and it should be between 1.75% and 2.25% in 2012.In its previous forecast in May, the organization was counting on 1.2% growth for the area in 2010 and 1.8% in 2011.

Despite an initial improvement in the labor market, unemployment will remain high until at least 2012, around 7.5% on average in OECD countries, against -8.5% 8% expected this year, with an average twice as high among young people.

UNEMPLOYMENT: THE CASE OF GERMANY

"This crisis is a crisis of youth unemployment, very serious," he told a news conference the secretary general of the organization, Angel Gurria, citing the example of Germany, which has virtually reduced its rates unemployment to its level before the crisis.

Asked to give recommendations on the fight against unemployment and vocational training, he replied: "They might buy a ticket to Germany, to study what happens there."

Angel Gurria also called for fiscal consolidation "credible" capable of responding to the concerns created by the rise of sovereign debt.

He stressed a simple stabilization of debt / GDP ratios of countries whose finances are most driving would be a fiscal effort could reach 9% of GDP.

While being careful not to take over the phrase "war of currencies", he has used that explicitly mentioning the Brazilian Finance Minister Guido Mantega, Angel Gurria called for "coordination and cooperation "and welcomed the outcome of the recent meeting of G20 finance ministers in South Korea, which he linked to" the appreciation, even modest, of the Chinese currency "in recent days.

Information services and technology solutions NYSE Euronext helped limit the decline results from the exchange operator in the third quarter, in a context of low market activity in Europe and the United States.

NYSE Euronext reported Tuesday a decline of 12.3%, slightly lower than expected quarterly profit.

"Our third quarter results reflect the impact of lower transaction revenues, due to slow overall industry volumes," said CFO Michael S.Geltzeiler, in a statement.

The group's net profit stood at 121 million dollars over that period, or 46 cents per share, against 138 million (53 cents) a year earlier, with sales down 3.5% to 599 million dollars.

Thomson Reuters consensus I / B / E / S gave a profit of 43 cents per share and a turnover of 592 million.

The activities of information services and technology solutions accounted for 19% of turnover and 11% of operating profit of the operator, up from 15% and 5% respectively of the third quarter of 2009.

The turnover of this segment reached $ 113 million, up 20% from last year and operating profit 24 million against 12 million.

In contrast, turnover and results of the other two segments – the derivatives and cash trading and listings – posted substantial declines.

The turnover of the derivatives (minus expenses based on trade, including commissions and cash bonuses) fell 5% to $ 188 million and operating income, excluding mergers and acquisitions, fell by 11 % to 93 million, said the operator.

As for net sales of the business negotiations and spot quotations (also minus expenses based on trade), it decreased by 9% to $ 298 million, with operating income, excluding mergers and acquisitions , down 9% to 101 million.

At 12:15, the title was down 2.31% in the Paris Bourse, to 21.790 euros, showing a market cap of 5.687 billion euros after taking over about 8% in two weeks. Since the beginning of the action takes 23.4%.