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The Tokyo Stock Exchange closed up 0.01% Wednesday, the benchmark index of the Japanese financial market has erased almost all of its gains late in the session while e ; silent during the meeting on track to achieve its best February since 1991.

The Nikkei gained 0.72 points to 9,723.24 and the Topix broader, yielded 2.52 points (0.3%) to 835.96.

Investors have finally opted to take profits pending the outcome of the second injection of cash to three years by the European Central Bank.

The bankruptcy of four daily Normandy, Paris-Normandie, Havre Libre Press Havre, Fécamp and progress of their two weekly supplements was announced Monday at an extraordinary works council, officials said a union source.

The Tribunal de Commerce of Le Havre (Seine-Maritime), which is based the headquarters of the League of Norman Press, Publishing and Advertising (SNPEI) that has these newspapers will be asked to rule next Wednesday on February 29.

Martin-Benoît Curtoud, representing the National Union of Journalists (SNJ) in the EC SNPEI, said that the direction of the latter and that of the Hersant Media Group (DRG) which it is subsidiary "hope the appointment of agents for assistance." 

The decline in circulation and advertising is the main reason for the bankruptcy filing.

The estimated turnover of SNPEI settled for 2011 to 39.6 million euros and its net loss was $ 2.2 million.

The draw of the four daily newspapers and their supplements was just over 75,000 copies paid last year, including 52,606 in Paris-Normandie, the main newspaper of the pole. The SNPEI employs 365 employees.

In the match to the distance on Friday opposed the defense of employment, Nicolas Sarkozy announced at the Petit Couronne do restart the refinery Petroplus temporary while Francois Hollande, in Florange, proposed a law requiring companies that do not want more than one site to appeal to a buyer.

Who will make the announcement the more sensational? How far will they go the candidates to win the labor vote? A new match is held at a distance between Nicolas Sarkozy, visiting the Petroplus refinery in Petit Couronne, and François Hollande, who moves in Florange to meet with employees of Arcelor Mittal. Two strategic locations in the field of employment, for a match that promises to be fierce. Follow live changes in the score.

2:05 p.m.: Arcelor Mittal is dismissed by the High Court of his application for entry ban to anyone outside the service in its application was primarily site.Cette the many journalists covering the occupation of the site by employees.

14:00: "There are 3 or 4 buyers interested [...] So far we have not yet found"

1:52 p.m.: regarding the financing, the president ensures that for two months of work needed to restart the refinery, "was 50 million. The 20 million were transferred to the state, 10 million will come CO ² through quotas, and another 20 million in Schell avanace cash "

1:50 p.m.: "Last night later, we signed a processing contract, which guarantees refining activities for a period of 6 months. If there was no contract, it was over.

1:40 p.m.: Francois Hollande reacted to the news of Nicolas Sarkozy: "It is in fact only get the former owner of the site. This is going to the most urgent."

1:20 p.m.: "I am a word. It is signed" with Shell, said Nicolas Sarkozy, adding: "I'm not saying it saves the refinery, but it is signed, it makes the job for six months ".

1:18 p.m.: Holland wishes to clarify that he came as an MP, and is prepared to file a bill: "When a large firm does more than one production unit but does not give the, we will do a bill that will force him to appeal to buyers. " Another proposal: the businesses that use too much to pay the interim benefit of unemployment contributions. He is applauded by employees.

1:10 p.m.: The Socialist candidate speaks. He says he wants to defend the steel industry, "sector of excellence". "I come before you to make commitments. I am aware of the anguish that is yours." He adds, to the attention of its competitors: "There are candidates and candidates of the people who claim to serve the people"

13.00: Francois Hollande arrived at the plant Arcelor Mittal, where he has not spoken yet. It stands in the middle of union representatives, who express their demands, after climbing a truck.

12:45: The president finally arrives on the site. Francois Hollande, is always expected Florange.

11:45: Nicolas Sarkozy will meet in closed session with the staff representatives and administrators of the Petroplus refinery.  

Faced with a record unemployment rate since 1999 that is almost symbolic of the 3 million people, the head of state has recently invested personally in two emblematic cases of companies threatened: the Lejaby lingerie factory Yssingeaux (Haute-Loire) and the solar panel manufacturer Photowatt to Bourgoin (Isère). Candidate since Feb. 15 to a second term, Nicolas Sarkozy made a record of his two electoral argument to illustrate his determination to protect "the France of the factories". "If I had said as they (the Socialists) + we + can not do anything, Alstom would no longer exist, Photowatt we do speak of it and Lejaby would have been wiped off the map", he said Thursday at a public meeting in Lille.

Credit Agricole said Thursday a net loss more severe than expected in the fourth quarter of 2011, to 3 billion euros, due to heavy writedowns related to the crisis area euro and restructuring costs of its banking and investment banking (CIB).

The bank, listed vehicle Crédit Agricole group, said in a statement it had also passed a new supply of government debt, 220 million euros, bringing the discount on debt public of this country to 74% against 75% for BNP Paribas and Societe Generale.

The last three months of 2011, its provisions have generally been multiplied by 2.5, while its net banking income rose 4%. 

As announced in December, Crédit Agricole has recorded for 2.5 billion euros of writedowns in the fourth quarter 2011.

The bank also said that apart from these impairments, restructuring costs amounted to 482 million euros.

"Net banking income was impacted by EUR 258 ​​million in corporate and investment due to the disposal of portfolios," said she.

According to the consensus reached by the editor of Reuters, analysts on average expected a loss of 2.7 billion euros.

For the full fiscal 2011, the bank falls into the red with a net loss of 1.47 billion euros. 

Taken together, the Crédit Agricole group, however, shows a net profit of 812 million euros, which compares to a profit of six billion euros for BNP Paribas and 2 , 4 billion for Societe Generale.

Like many other institutions, Credit Agricole, already enmeshed in the difficulties of its Greek subsidiary Emporiki, has launched a restructuring of its BFI that includes: the removing more than 1,700 positions.

At the Paris Stock Exchange, the shares finished agricultural Wednesday down 3.76% to 5.01 euros. The title has nonetheless gained nearly 15% since the beginning of the year after plunging more than 50% in 2011.

Caisse des Depots (CDC) has designated Monday's Deputy Director General Antoine Gosset-Grainville for the interim Augustin de Romanet until the e presidential election.

The mandate of Augustin de Romanet, CEO of the public institution since 2007, expires on March 7. President Nicolas Sarkozy had warned earlier this year that he would take no appointment as head of public institutions play a vital role in economic and social policy of the government before the presidential election of April-May

"Augustin de Romanet today informed its Executive Committee and staff of the Deposit of its decision to designate Antoine Gosset-Grainville, Deputy Director General of the Deposit, as director and acting in the absence or incapacity of the CEO, "says the CDC said in a statement. 

Appointed general manager of the Deposit by Jacques Chirac two months before he left the Elysee, Augustine had said in early January Romanet be candidate to succeed himself. Under its mandate, with the financial crisis, the Deposit has intervened on many fronts, including participation in the rescue and the dismantling of Dexia or bailout of insurer Groupama.

The name of the secretary general of the Elysee, Xavier Musca, circulated as a possible contender for the post of CEO of the CDC.

Augustin de Romanet denied on Sunday evening as a candidate or being approached in the event of a replacement for Mr. Frérot at the head of Veolia Environnement.

The agency Fitch upgraded the credit rating Friday from Iceland to BBB-BB + cons, welcoming the country's progress in restoring macroeconomic stability after the financial plunge of 2008.

Note Reykjavik thus leaves the speculative grade and is endowed by Fitch with a stable outlook.

"The restoration of long-term sovereign rating of Iceland investment grade reflects progress in restoring macroeconomic stability, implementing the re ; structural forms and restore the solvency of the country after the financial and monetary crisis of 2008, "Fitch wrote in a statement. 

In late 2008, the three main Icelandic banks collapsed under the weight of their debts accumulated during a decade of aggressive expansion abroad. Their fall has plunged the Icelandic economy, which had to call using the International Monetary Fund.

Relatively untouched by the debt crisis of the euro area, it is not, Iceland is expected to grow by 2% to 2.5% in 2012-2013, Fitch believes.

The rating agency stresses, however, that private debt remains high, that of households above 200% of salary available and the business up to 210% of GDP.

Iceland is rated BBB-by Standard & Poor's and Baa3 by Moody's. His outlook is stable from S & P, but negative by Moody's.

The levy of tax on the payroll, reform often cited in France, no advantage, the Council believes the tax burden. Explanations. The fight against tax evasion has allowed the state to recover 16 billion euros in 2010

The levy of tax at source (on payslip) exists in many countries (Germany, Spain, USA, UK, etc..). In France it's a bit of Arles: often mentioned, defended by many supporters, the reform has never been implemented and taxpayers continue to pay tax on income in a timely manner and shifted by a years. Francois Hollande envisioned as an outcome of its fiscal revolution, before abandoning it.  

The levy of income tax at source has three advantages in theory: the employee has a better vision of what he actually earns (net income after tax), it lowers collection costs for administration tax (third-party payers, most companies are much less likely than individuals) and it improves the collection of taxes (making more complex optimization and tax evasion).

But it also has disadvantages. In addition to the difficulty in managing the transition year – in particular limiting behavior of tax evasion – the levy would involve considerable cost to the companies in charge of collecting taxes, the Council believes the tax burden (CPO , attached to the Court of Auditors) in a report released today. This cost could reach 2 billion euros per year. The risk that the bosses decide wages or layoffs, based on tax rates for their employees should not be underestimated, particularly in SMEs, says the CPO. Besides the companies would have to tax data, so confidential, on their employees.

Bridge the gap between perception and the taxation of income

"The balance between the advantages and disadvantages does not justify such a shift in the current state," said Didier Migaud, First President of the Court of Auditors, in an interview with Les Echos on Thursday. He said some of the arguments for withholding have "aged". The "relationship between the tax authorities and taxpayers have been modernized," argues Didier Migaud. The CPO. First, because nearly half of the taxes levied in France are now instantly (CSG, taxes on capital income, etc..).  

Secondly because the reporting of income (pre-filled since 2006) and the tax payment (monthly payments, direct debit) are now much more automatic. The idea that the withholding tax would simplify life for taxpayers is obsolete. The tax collection is, itself, become much more efficient: the recovery rate is 99% or as much as in countries that levy the tax at source, as the CPO.

However, the CPO grade, this measure can be considered, but as part of a comprehensive tax reform and deep income taxation. That is to say, provided it is carried in advance to a simplification of massive income tax (abolition of tax loopholes, end the family income, etc..). And meanwhile, the CPO suggested deleting the one-year lag between perception and the taxation of income, especially for 40% of taxpayers who see their revenues decline one year and must wait until next year to see their tax decline.

BNP Paribas said Wednesday net profit halved in the fourth quarter, to 765 million euros, mainly because of a new provisioning on Greece and a significant contraction of its profits in corporate banking and investment because of the crisis in the euro area.

The French bank said in a statement it had spent an additional charge of 639 million euros in its accounts for the last quarter of 2011 on government debt, bringing its funding to 75% on Greece. 

The CEO of BNP Paribas said to be confident that the group will not have to place new provisions on Greece negotiating a new bailout with the International Monetary International Monetary Fund, the European Union, the European Central Bank and its private creditors.

"It's the visions that we have," said Jean-Laurent Bonnafé in an interview with Reuters Insider.

Despite being down sharply, the results of BNP Paribas, however, reveal higher expectations of analysts polled by the editor of Reuters.

The latter on average expected higher losses in market activities and investment, just like what came out of the results of Deutsche Bank. 

"AHEAD" ON RECAPITALIZATION

BNP Paribas, which has decided to maintain a dividend despite the crisis, also estimated to have reached six months ahead with the recapitalization objectives set by European regulators, with a ratio capital of 9.6% at end 2011.

The European Banking Authority (EBA) has indeed demanded of European banks they reach at least 9% of equity by the end of June 2012.

In BFI, where the bank has suffered for 510 million euros in losses on disposals of sovereign debt in the fourth quarter, BNP Paribas expects this year on new recurring expenses of 850 million euros related to asset sales and restructuring of its operations. 

"The beginning of yeara been strong enough in the investment bank", indicated Jean-Laurent Bonnafé.

Hired as many European banks in a plan to reduce stock and asset sales, the CEO of BNP indicates that he had "no plans" regarding a sale of its im ; Rican BancWest. He also rejects any sale of its land Klépierre which the bank holds 51% stake.

"This unit is not for sale. (…) We have to pursue our plan to reduce balance sheet, we're working on," said Jean-Laurent Bonnafé.

At the Paris Bourse, the stock has increased 10% since the beginning of the year after falling 36% in 2011.

Wall Street closed higher Monday, after the vote of austerity measures by the Greek Parliament, investors wanting to believe that this new step will move towards a resolution of debt crisis in Greece.

Wall Street has won over 20% since its lowest recorded closing early October, driven by optimism, that of seeing the debt crisis in Europe finally resolved.

"Whether the agreement was approved really reduces the tension on the euro area but it was expected and, in the short term, we went down the upside potential," said Yu -Dee Chang (ACE Investments). "I'm careful because there could be a short-term correction."

The Dow Jones gained 72.81 points (0.57%) to 12,874.04 points. The S & P 500 is 9.13 points (0.68%) to 1,351.77 points. The Nasdaq Composite gained 27.51 points (0.95%) to 2,931.39 points.

Analysts feel that the level of 1355 for the S & P is likely, if achieved, result in a reversal downward after its peak reached seven months last week.

Financials in particular stood out. The KBW index of bank gained 0.83% and 0.95% in financials. Bank of America acquired 2.23% but Citigroup, up much of the session, ended on a modest decline of 0.12%.

The high techs, Apple has for the first time exceeded $ 500 during the session and finished up 1.86% to 502.60 dollars.

Apple has stepped up its offensive against Monday Samsung Electronics in the patent war between them, by attacking the Nexus range of smartphones equipped with the latest version of Android, the system Google's operating.

Google takes him 1.04% to 612.20 dollars. The European Commission authorized Monday the search engine to buy the mobile handset manufacturer Motorola Mobility, while that it would monitor the use made of patents acquired.

Monsanto, the American giant of pesticides, was sentenced Monday for the first time in France, for the poisoning of a Charentais farmer. But the action is gaining 0.76% to 77.93 dollars.

General Mills has agreed to buy the food company for two Brazilian Yoki billion reais (880 million), an operation that marks his return to the first Latin American market, e crivait Monday the daily O Estado de S. Paulo. The action is gaining 0.64% to 39.34 dollars.

Otherwise, Obama pleaded Monday for important stimulus for growth and for raising taxes on high incomes, at the presentation of its draft budget for 2013.

The U.S. trade deficit widened slightly more than expected in December and the negative balance of trade between the U.S. and China on a new record the entire 2011-295500000000 dollars.

The monthly deficit in the overall balance of trade stood at $ 48.8 billion, showed the statistics released Friday by the Commerce Department, as imports reached their highest level since July 2008.

Analysts polled by Reuters on average expected a figure of 48.0 billion. The November deficit was revised to $ 47.1 billion against 47.75 billion originally announced.

U.S. exports rose slightly in December (0.7%), but nearly two times less than imports (+1.3%).

Over the full year 2011, the trade deficit increased by 11.6% to 558.0 billion, a level not seen since 2008.

Exports grew by 14.5%, exceeding for the first time the threshold of 2,100 billion, while imports recorded an increase of 13.8%, to nearly 2700 billion.