Increase in grants, including Milan slight easing of interest rates in the long run Italian … Silvio Berlusconi's announcement he will leave soon to relieve the financial markets. The Italian prime minister Silvio Berlusconi

The markets applauded Wednesday morning the next departure of Italian Prime Minister Silvio Berlusconi, whose ability to recover the finances of his country were strongly questioned by investors. So much so that the pressure on interest rates threatened to kill Italian Italy asphyxiation.

In the wake of the Asian stock market, the European equity markets have in turn opened up. Italian interest rates at 10 years have slightly relaxed the bond market and oil prices climbed. The euro, however, was stable.

Paris and London and took a little over 0.8% at the opening.

"The risk appetite increases, investors favor cyclical stocks at the expense of defensive background of relief related to the resignation of Berlusconi," he told Dow Jones Newswires Justin Rooney, head of sales at CBA in Sydney.

The Italian 10-year rate is slightly relaxed: they amounted to 6.65% Wednesday morning in Asia, after reaching a day high of 6.77% in Europe. Before the announcement of the forthcoming resignation of the head of the Italian government, the 10-year rate had risen to 6.77%, a level unprecedented since the inception of the euro, slightly more than the previous record which dated from the morning same (6.73%).

Sanctioned markets and Italy for its policy and had considered lax in their sights the prime minister Silvio Berlusconi, seen as unable to apply the meusres rigor demanded by the European Union.

More than 68,000 passengers affected by the strike at Qantas

Australian Prime Minister Julia Gillard has asked Qantas unions to end their claim as the strike of the airline has reached over 68,000 passengers.

Julia Gillard, criticized for not having intervened earlier in this dispute, asked the court ruling in Melbourne this type of case to end as soon as possible to the strike.

"We have taken this action (going to court) because we are worried about the impact on the economy," said the head of the Australian Government.

The strike comes at a worse time for the Australian Government, the Commonwealth summit being held in Perth.Seventeen officers were invited to travel on Qantas aircraft Sunday.

Saturday, the airline has grounded more than one hundred aircraft and canceled 447 flights. The strike comes during a weekend of the busiest of the year in Australia in terms of air transport, in part because of a very popular horse race, the Melbourne Cup horse, which takes place Tuesday and attracts tens of thousands of people.

The unions are demanding salary increases and improved working conditions, and challenge the strategy of the company to focus its international activities in the Asia-Pacific region. The company management wants it removed through a thousand jobs.

Safran and Thales close to agreement on two joint ventures

Safran and Thales are close to an agreement in principle on the creation of two joint ventures, one in optronics and the other in inertial navigation, officials said Friday a source close to the matter, confirming a report of daily Les Echos.

The two manufacturers for the aerospace, defense and security in May had announced the resumption of talks suspended in mid-2010, under pressure from the state, their common shareholder that seeks to reduce duplication in the sector defense budget cuts in full.

"Thales and Safran are close to an agreement in principle, but it is not the final agreement," the source said, adding that the joint venture would be headed by the Thales optronics and that in the inertial navigation by Safran.

Unemployment up off again in September

Unemployment in France is left up in September after a slight decline in August, show statistics released Wednesday by the Ministry of Labour and job center.

The number of job seekers in category A (those who exercised any activities during the month) in France rose by 26,000 (+0.9%) last month to $ 2,780,500.

In one year, the number of unemployed in category A growing by 3%.

By adding the persons engaged in small (B and C), the number of job applicants sign an increase of 0.7%, or 27,600 more people in one month, to $ 4,175,800.On an annual basis, the increase for these three categories falls to 4.5%.

September was especially unfavorable for 50 years and older, an age in which the number of unemployed in category increased 2.1% over the month and 14.3% year on year.

It was also detrimental to the age of 25, since in that category, the number of unemployed increased by 0.6%. On a year, however, declined 2%.

Stability of producer prices in August

The producer prices of French industry in the domestic market increased by 0.5% in July before stabilizing in August, show figures released Friday by INSEE.

These figures are consistent with the consensus estimate of economists polled by Reuters.

In one year, the index of producer prices on the French market shows an increase of 6.3%.

Prices of petroleum products fell 2.2% in August after a 3.5% increase in July, Insee said.

The food prices have remained stable in August as in July.

"In August, prices of electrical, electronic and software grew by 0.6%, including the prices of components and circuit boards (1.0%), driven by commodity prices," says INSEE .

Prices of industrial products for foreign markets, unchanged in July, fell 0.3% in August.

For all markets, prices of industry production was down 0.1% in August after 0.3% the previous month.

The Greek Minister of Finance suggests a vicious cycle

Austerity measures are necessary to Greece to escape the vicious circle imposed on its economy and its debt and turn it into a virtuous circle, said Tuesday the Greek finance minister, Evangelos Venizelos.

The latter also found that the initial objectives of the European Union (EU) and the International Monetary Fund (IMF) to restore the Greek public finances were too ambitious.

He said the European agreement of 21 July on a new plan of aid to Greece was a Bible for the government of George Papandreou.

A delegation of the EU, the IMF and the European Central Bank (ECB) will return this week in Athens and Greece will receive next month a new tranche of eight billion euros to avoid bankruptcy, said Minister of Finance.

The Prime Minister will address this "troika" of the written assurances it requires on the austerity measures proposed by the government, said Evangelos Venizelos. Finance ministers of the euro zone will review these proposals and will then be unlocked using, he said.

"The release of funds will take place and will be held on time," he said.

Nestlé driven by growth in emerging markets

Nestlé has identified its goals Wednesday after unveiling an organic growth than expected in the first half, also marked by strong sales growth in emerging markets.

Despite an environment of rising agricultural commodity prices and the strength of the franc, the agribusiness giant expressed confidence in its ability to achieve its target of organic growth of 5% to 6% – indicating he thought to reach the top of the range – combined with an increase in the margin at constant currencies.

Nestle also announced that it would not launch a new program of share repurchases at this time, after buying 35 billion francs in securities since 2007.

The group intends to maintain its financial flexibility to carry out its expansion strategy in emerging markets while pursuing acquisitions.

Nestlé intends to continue to increase the dividend paid in Swiss francs to shareholders, also stated the CFO.

In the first six months of the year, Nestle achieved a turnover of 41 billion francs (39.3 billion), down 12.9% from the previous year due to changes in scope and impact of foreign exchange.

Sales increased in all regions, including Europe and North America, despite the fall in consumption in developed countries.

PRESSURE FRANC FORT

Organic growth has exceeded expectations, reaching 7.5% while sales in Asia, Oceania and Africa rose 11.5% on strong performance of the Maggi range of products.

Price increases, of 3.8% recorded in the second quarter after rising 1.5% in the first, also contributed to this performance of Nestlé.

Last week, competitors Kraft Foods and Unilever have published better than expected results after having passed on their selling prices high inflation in the prices of agricultural commodities such as coffee, cocoa or milk.

For Danone, which published its half-year end of July, the price increases, however, have negatively impacted volumes in the dairy business.

Nestlé, unlike its major competitors, has also faced pressure from the strong franc has had a major impact in the consolidated accounts.

"The Swiss franc has no significant impact on the underlying performance," however, said Chief Financial Officer Jim Singh, at a conference with analysts.

PROGRESSION OF OPERATING MARGIN

Compression of distribution costs and administrative costs, however, have helped to protect the operating margin which increased by 20 basis points and 40 basis points at constant exchange rates, while many analysts had forecast a loss of profitability .

Net income was 4.7 billion francs, a decline in over a year but slightly above expectations.

The consensus of analysts polled by Reuters had stood at 41 billion francs in revenue and $ 4.6 billion in net income.

At 11:20 GMT, reduced earnings, but still took 0.7% to 47.03 francs, underperforming the European index of food and drink that gained 1.13%.

"The forces were well distributed geographically, but were particularly impressive in Europe and echo the strong results from Unilever last week," noted Alicia Forry and Eddy Hargreaves, analyst at Collins Stewart.

"The fact that Nestlé has not announced share buyback will fuel further rumors of an interest in the activities of Pfizer Nutrition," says Jean-Philippe Bertschy, an analyst at Vontobel.

Nestlé, which has large reserves of cash from the sale of Alcon to Novartis, has acquired particular Prometheus Laboratories, California company that specializes in the diagnosis in gastroenterology and oncology.

In July, he also announced plans to partner with Hsu Fu Chi to grow the confectionery market in China.

The United States lose their AAA, states pressed to act

The rating agency Standard & Poor's downgraded the sovereign rating on Friday the United States, culminating a week of panic in financial markets alarmed by the scale of public debts and a slowing global economy .

This decision could further increase the turbulence in financial markets reopen Monday.Sign of the concern of world leaders, finance ministers and central bankers of the G7 countries will meet by phone over the weekend, officials said European diplomatic source.

Export themselves to the other side of the Atlantic, the debt crisis thus far confined to several members of the euro area has taken an international dimension and requires global coordination, said the senior official.

The European Central Bank also plans to hold a conference call Sunday afternoon, says a source close to the institution.

The debate is open to the institution the opportunity to buy government bonds in Italy to calm speculation, as Silvio Berlusconi promised on Friday to return to a balanced budget in 2013, one year of ahead of schedule.

Markets are less and less confidence in Spain and Italy to honor their debts and the scenario of a domino effect in the euro area continues to unfold. The fear of tipping the U.S. into recession has also fueled the drop in global financial markets, who lost 2500 billion in one week.

THE "GOOD OLD TIME IS OVER"

After the close of Wall Street, the United States for the first time lost their precious AAA.Sovereign debt is now rated AA + by rating agency Standard & Poor's, which raises the specter of a further deterioration in a year.

This decision, rather expected, sanctions in the eyes of S & P without a viable political compromise on the reduction of U.S. debts. The White House responded by calling on lawmakers to cooperate more.

Lowering the American note could have implications on the status of reserve currency the U.S. dollar.China asks in a comment to Xinhua news agency that the international community to reflect a new reserve currency, "stable and secure."

Beijing, the first creditor of the United States, attacks in this dispatch to the U.S. government, demanding that it "faces the problem of structural debt.""The good old days when he only had to borrow to get out of trouble he had himself created is over," said agency official.

Russia, the third holder of the world's gold and foreign exchange, behind China and Japan, was much more measured, considering the example of France that the U.S. debt will remain a benchmark bond.

DIVISIONS WITHIN THE ECB

This new development in the debt crisis increases the pressure on governments.In its analysis, S & P said the deterioration by the lack of fiscal consolidation plan adopted by Congress in exchange for raising the debt ceiling U.S. and the incapacity of the leading Democrats and Republicans to govern together.

European markets also expect a rapid and effective government too indebted to their liking.

After Greece, Ireland and Portugal, investors fear that it is the turn of Italy and Spain, third and fourth economies in the euro area, have to seek a rescue.

Silvio Berlusconi bowed to international pressure by promising to accelerate the implementation of austerity measures and social reforms.He, however, again rejected the hypothesis of an early election while the opposition demanded a government "technical" to restore financial credibility of the country.

Thursday, investors did not appreciate that the ECB does not buy Spanish and Italian bonds, limited to the sovereign Irish and Portuguese, while the yield of securities issued by Rome and Madrid exceeded 6%.

Two days later, it seems that it was a maneuver to push Silvio Berlusconi to act.

"In principle, we can say that the ECB could start to buy bonds if Spain and Italy (both countries) made an extra effort in terms of fiscal and structural reforms," ​​said a senior official told Reuters the euro area.

But divisions remain within the ECB the opportunity to buy the Italian debt.

The acquisition of BSkyB examined by the media regulator

The British government will ask the regulator of the media Monday to consider whether the guarantees provided by News Corp with a view to acquisition of the BSkyB satellite TV package is still credible, in view of the case News of the World.

News Corp, which belongs to Rupert Murdoch, has decided to close its Sunday tabloid News of the World, accused of embezzling thousands of voice mail in recent years.

This case comes at the worst time for News Corp. which is engaged in an attempted takeover of BSkyB, an operation estimated at around ten billion euros, which requires final approval from the government.

The British Ministry of Culture, Media and Sport should write in the morning Monday to Ofcom, the regulator of the country's media, to ask whether in the light of developments in the case, the redemption process should continue or not.

After the announcement of this consultation, the action BSkyB lost 6.5% to the London Stock Exchange.

News Corp., which already owns 39% of BSkyB, has promised that in the event of a total, the British would remain independent bunch, with an editorial completely free.

For a Citigroup analyst, Thomas Singlehurst, the probability that the transaction receives the approval of the government, despite the case News of the World, remains unchanged from last week.

"We still consider this operation in terms of 'when' and not in terms of" if, "he told Reuters.

The Twenty-September maintaining pressure on Athens

The leaders of the European Union Thursday kept the pressure on Greece to Athens adopts new austerity measures in return for increased financial support, which would avoid defaulting on its debt in mid-July.

The fourth summit of the year came a day after the start of discussions between the governments of the euro area and the creditor banks and insurers of Greece for their participation in the second aid plan.

As expected, no decision is reached on Thursday and the leaders of twenty-seven were limited to endorse the line taken in the night from Sunday to Monday by their finance ministers, namely conditional support in Athens.

They have given until July 3 to the Greek Parliament to adopt the austerity measures demanded by the EU and the IMF to release the next tranche of 12 billion euros and prepare the background.

The Heads of State and Government on Thursday called their ministers "to complete work on the remaining elements necessary to enable decisions to be taken in early July," according to the conclusions of the meeting.

Meanwhile, in Athens, Greece has reached an agreement with the inspectors sent by the International Monetary Fund and the EU on an austerity plan over five years, to be presented to parliament on June 28, said the government Greek.

According to one senior EU source, the country would now require public funding EU / IMF 55 billion euros until 2014.

This is in addition to 57 billion still to be released in the forefront of support of 110 billion euros adopted in May 2010 and more than 50 billion expected from privatization and the participation of private creditors to plan.

PRESSURE

Before the summit, a new call for accountability and the unit was launched in Greek Prime Minister George Papandreou, and the opposition leader, Antonio Samaras.

"All conditions must be met (…) If Greece does what it has to do, we will do what we do. This is not a threat.It's just confirmation of our ongoing efforts, "said the president of the Eurogroup and Luxembourg Prime Minister Jean-Claude Juncker.

He then explained Antonio Samaras having pressed "to abandon its negative position" hard opposition to the policies of George Papandreou.

German Chancellor Angela Merkel, French President Nicolas Sarkozy, the European Council, Herman Van Rompuy, and that of the European Central Bank, Jean-Claude Trichet, also met with Greek Prime Minister before the summit opens.

Nothing has filtered from the meeting, held for nearly an hour in the office of Herman Van Rompuy.

However, investors remain skeptical about the Greek situation and insurance instruments on a default on sovereign debt Greek were up Thursday.

DRAGHI

The Heads of State and Government also endorsed many aspects of "global response" to the crisis in the euro area they had been able to develop at their previous meeting in late March.

They thus assumed the higher effective capacity of the European Financial Stability (EFSF) to bring them to 440 billion euros – 750 billion while adding the participation of the International Monetary Fund and that of a Community instrument 60 billion.

They also approved the treaty to establish the European Stability Mechanism, which will succeed the EFSF from mid-2013 and organize the private sector to finance countries in the Eurozone in trouble at that time.

However, the discussion on the appointment of Mario Draghi as President of the European Central Bank to replace Jean-Claude Trichet on 1 November, initially expected Thursday, will now take place on Friday.

The fate of Lorenzo Bini Smaghi, Italian member of the Executive Board of the ECB, could delay the appointment of Mario Draghi as Nicolas Sarkozy agreed with Berlusconi that he gives way to a French.

But it wants according to several sources to first obtain assurances on the base before confirming his departure.

Friday, discussions will focus on the accession of Croatia to the EU bloc, expected in 2013, and on the situation in Syria, Libya and the Middle East.