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The social network Facebook will stop next week's trading in its shares on secondary markets as part of preparations for its IPO in May, officials said a source familiar with the matter.

The American group has recently asked the companies that manage the transactions on its capital outside regulated markets to suspend them, a decision to re ; reduce distortions of value that might disrupt the binding of its IPO price, said another source.

Facebook plans to raise five billion dollars (3.75 billion euros) in its IPO. This could add value to the $ 100 billion, which would make it the largest IPO in the history of Silicon Valley.

The possibility of such an operation in May depends on the decision of the Securities and Exchange Commission (SEC), the authority of the U.S. equity markets, the prospectus filed by the group, noted the first source.

Facebook this document amended three times since its initial filing in early February.

A Facebook spokesman declined to comment.

Some investors are challenging the group's choice of a capital consisting of two classes of shares that would give the Chief Executive Mark Zuckerberg effective control of 56.9% after the company entered e stock exchange. 

Despite these criticisms, the demand for securities and promises strong action Facebook shines on secondary markets.

SharesPost Financial, a company specializing in capital transactions in unlisted companies, said Wednesday it would no longer intervene in the equity trading Aftern Facebook s Friday "to help ensure the orderly transition of society towards regulated markets".

SecondMarket, an intermediate competitor, declined to comment.

Inflation, excluding tobacco, should register at 1.8% in 2012, Bercy announcement Wednesday after the meeting of the Economic Commission of the Nation, a group of economists that advises the Minister of Economy.

The last update of the multi-year strategy of public finances envisaged inflation excluding tobacco to 1.7% this year.

"Based on an inflation forecast of 1.8% excluding tobacco for 2012 adopted by the Economic Commission of the Nation, Baroin (Minister of Economy, Ed) and Xavier Bertrand (Minister of Labour) indicate that a 2.1% revaluation of pensions will be applied from 1 April next year, "the Ministry of Economy said in a statement . 

"At the 2012 inflation forecast, is added the difference between the inflation recorded in 2011 (2.1%) and the initial forecast for 2011 (1.8%) or 0.3%. Such adjustment ensures complete the purchasing power of retirees, "it added.

Orders for new cars in France fell 7% in February, according to trade publication The letter VN Auto K7, promotions manufacturers to limit the damage on the car market.

The decline, calculated from one year to another, has increased from January (-1%), but still very far from the collapse of 57% recorded in December, adds the letter published Wednesday VN Auto K7 based on a survey of 34 automotive distribution groups.

"The distribution started in January with order backlogs close to absolute zero. And partial reconstruction of the portfolios remain well informed of the Month: despite the winter holidays and bad weather, customers rather attend the showrooms, "writes the monthly publication, which Reuters obtained a copy

. registrations in March, which are an order of February leading indicators, will be published Monday 2 in April. After the collapse of order in November and December, registrations had tumbled 20% year on year in January and February.

According to La Lettre VN, orders for cars fell 18% last month, Renault, after a 6% decline in January, reflecting the destocking of the network that controls less than the manufacturer.

Peugeot and Citroen are better, PSA has redirected some of its financial resources to its offerings after the commercial disappointment of the end of 2011: Orders Peugeot fell 8%, after rising 12% in January, and those of Citroen were down 7% (after 10%). 

Asked about these trends, a Renault spokesman reiterated the group's estimate of a decline of 8% to 9% of its orders in France on the first two months of the year and a contraction of 9% to 10% for all brands in February.

In early March, Peugeot evoked a rebound for his share of 7% of its orders in two months. No details on the month of February could not be obtained immediately from the two brands of PSA.

March, CRITICAL MONTH

Among volume manufacturers is that Fiat has suffered the most last month (-25%), while VW has yet pulled out of the game with an 8% increase in orders of the Volkswagen brand last month.

According to La Lettre VN, distributors of the German mark displayed a very high portfolio of over 100 days of orders, against less than a month at Renault.

Most builders know that the first quarter will be mechanically difficult since at the same time in 2011, sales were still boosted by orders placed before the end of last cash for clunkers. 

Last week at the Motor Show of Geneva, the commercial director of Renault Jerome Stoll acknowledged that the year had started less than expected in Europe. March, one of the biggest months of the year for the sector before the arrival of spring will be critical to the sales and orders for the quarter, but Jerome Stoll and now believed to that already controls all brands could drop by 20% over the first three months of the year.

"The channel monitor is strongly Corporate Sales, PC and LCV," wrote The Letter VN. "For if the registrations still resist well to date, all professionals are finding a strong wait-and deferrals of purchasing decisions and an extension of many leases."

According to the publication, a reversal has taken place in this market during the second half of February and the wait has prevailed. The Committee of French Automobile Manufacturers (CCFA) expected throughout the year down 10% of the French automotive market, after falling 2.1% in 2011 .

Registrations of light commercial vehicles, which depend directly on local economic activity and who signed in January and February their first declines for several months, are also likely to remain misdirected. According to La Lettre VN, controls VUL in France fell by 8% in February.

This device has not reduced CO2 emissions, however. Concerned, the greatest number of vehicles purchased, and higher mileage. In 2008, emissions of CO2 from cars rose by nearly 170 kilotonnes per quarter.

On 1 January 2008, the ink of the Grenelle Environment barely dry, the bonus-malus ecological comes into force. His goal: reduce the amount of carbon dioxide (CO2) emitted by the French fleet, by encouraging financially the purchase of low emission vehicles. "This is to give a competitive advantage to virtuous products," brags Borloo, Minister of Ecology.

Las … Researchers at the INSEE recently shown that the device had actually resulted in higher total CO2 emissions. Yes, the French began to buy greener cars: average emissions of new vehicles increased from 149 grams of CO2 per kilometer in 2007 to 130 grams in 2010. But this performance was not exceptional: the period, France ranks only sixth European countries where such discharges have declined most. And, above all, it is not enough to say that the measure has actually rendered service to the environment. "The fleet size, composition, mileage per car [...] and the effect on sales of new vehicles must also be taken into account," insists the study.

Measure the effects of mixed origin CO2 (1) short-term (2) long-term (3) releases due to the "greening" of cars – from 80.4 to 155.0 releases due to the increase in the number of kilometers traveled per vehicle + 6.1 + 73.0 releases due to the construction of additional vehicles + 232.1 + 29.0 releases due to the rising number of automobiles in circulation + + 10.4 + 9.5 Total 168 , 2 to 43.8% in total emissions (actual or projected) + 1.2% – 0.4%

All this put together, emissions of CO2 from cars have actually increased by almost 170 kilotonnes per quarter for 2008 alone. The French, encouraged by the extent and fearing it disappears, bought more cars: the overall volume of sales in early 2008 was 13% higher than expected without the device. Hence an increase of the mechanical quantity of CO2 emitted. Besides the automobile manufacturing industry is very clean: from the Environment Agency and energy management, it generates 5.5 tonnes of CO2 per tonne produced. Added to this is finally a "rebound effect": the households buying more economical vehicles may tend to use it more.

The device has boosted sales of diesel, more polluting

In the longer term, the INSEE experts are somewhat less negative about the bonus-malus. Admittedly, the government tightened the device in 2010 because it was too costly for public finances (1.5 billion euros in cumulative). The new scale would push manufacturers to innovate and bring to market cars less polluting. Over time, this would offset the negative effects already mentioned.

But this is an argument "all things being equal". In real life, the economic crisis has pushed the State to establish, shortly after the creation of no-claims bonus, a "cash for clunkers". According to the Court of Auditors, the two measures, together, have had "a positive effect on purchases of smaller vehicles, to the detriment, at least temporarily, public transport". With, ultimately, a zero profit for the environment.

Worse, if one takes into account all of the pollution emitted by cars, the impact is even strongly negative. Also according to the Court of Auditors, it is unfortunate that "the bonus-malus system based on the single objective of reducing carbon dioxide emissions, without taking into account [...] nitrogen dioxide, fine particles or nitrogen oxides ". This led to a postponement of buyers to diesel vehicles, more efficient in terms of CO2 emissions, but much less regarding these other pollutants. But these are very harmful not only for the planet, but also for the health …

The pan-European Stoxx 600 index is expected to grow about 4% from its current level and the end of next year, a growth limited by fears about the financial situation of Europe and the United States, according to a Reuters poll published Thursday.

The quarterly survey of more than 40 analysts and fund managers over the past week shows that the index comprising the 600 major European cap should come out to 250 points at the end of December 2012, against 240.08 points at the close on Wednesday and 265 , 25 points late July summer before his fall (-15% in August and September).

"The factors (rebound, Ed) largely concern the ability of the industrial states to bring order into their finances, whether it's debt management or the needed balance between spending and revenues "said Christian Jimenez, president of Blue Diamond Management.

"So the emergence of a new method for solving the debt crisis which should allow the return of confidence.

According to a survey, less than a third of French say they are willing to buy the French public debt. The survey refers to the success of the "day Treasury Bills" in Italy where the people were invited to invest in government debt. It goes from 8.86 to 9 euros gross time to reach 1,365 euros for 35 hours, or about 1,073 euros net per month.

Less than a third of French say they probably or definitely willing to buy the French public debt if they were given the opportunity, according to a Harris poll for the site information and the agency Jolpress Image & Strategy to be published Tuesday in the Tribune . Only 6% of French people would buy "certainly" the debt of the country at rates comparable to those charged by banks, and 24% would buy "probably" of such bonds, said the survey.

GDF Suez confirmed Friday its target dividend for the period 2011-2013.

The CEO of energy company, Mestrallet, said at a conference organized on the occasion of the exhibition that the group was Actionaria for the next two years a dividend at least equal to that of the previous year.

"We commit not to lower the dividend," he confirmed.

Asked about the debate on nuclear energy in France, Mestrallet declined to take a stand.

"We have no nuclear power in France, we have in Belgium.

Generali, the third European insurer, reported Friday a 37% drop in net profit over nine months under the influence of losses on its debt investments and Greek stock market.

The group, which has had to face write-downs of 824 million euros, 329 million at its own Greek bonds, is now anticipated for all of its fiscal operating profit in the lower range of 4.0 to 4 , 7 billion previously announced.

Its net profit for the first nine months of the year stood at 825 million euros, against 840 million expected by analysts polled by Reuters.

Operating income for the period it is in line with expectations, down 1% to 3.1 billion euros.

The European Central Bank (ECB), against all odds, cut interest rates a quarter point Thursday, saying its new president that the eurozone could enter a recession "moderate" in late 2011.

Mario Draghi took office Tuesday, right in the maelstrom of the euro area with the return to the front of the stage of the Greek crisis and growing concerns about the ability of Italy, his home country, to take action necessary consolidation of public finances.

However, it has made no commitment on increased purchases of government bonds on the secondary market by the ECB under the repurchase program (SMP) to provide assistance to countries such as Italy Spain.

"What we see now …

Santander said Thursday that the European Banking Authority (EBA) had identified a need for her own fund of 6.474 billion euros.

She also said she would meet the new European capital adequacy without increasing its capital or reduce its dividend.

The largest bank in the euro area indicates that it is a hard capital ratio of 10% by June 2012 against 9.42% at the end of the third quarter.It notes that marking to market its portfolio of European debt would have an impact of 1.5 billion euros on its balance sheet.

BBVA, Spain's second largest bank, said Thursday that same EBA had identified a need for equity of 7.1 billion euros, 1.9 billion related to sovereign risk.

Santander has also reported net income down 13% over nine months due to an exceptional charge related to insurance policies in Britain.

Net income totaled 5.3 billion euros, while the Reuters gave 5.5 billion.

Santander's equity investors make conscious, due to the exposure of the bank in the Spanish property market and the local sovereign debt, while debt in the euro zone device undergoes a crisis of confidence.

Spain remains a weak point in the bank, which has embarked on a policy of international expansion.

But nevertheless agreed last week to sell a 25% stake in its U.S. consumer credit for a billion dollars, hoping to increase its capital in this way.

The action is gaining 3.73% in the morning.