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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.

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.

The new team will implement the agreement bailout $ 130 billion spent with the European Union and will be sworn in Friday at 24:00 GMT.

"I am convinced that the country's participation in the euro area is a guarantee of stability. We should all be optimistic about the outcome as we will show unity," said Prime Minister-designate.

He said no specific date had been arrested on early parliamentary elections in 2012, being that of 19 February, he said, that a preference.

The powerful U.S. broker MF Global is set to the tune of 6.3 billion euros in European debt. This is the eighth largest bankruptcies in the United States since 1980. The shock wave will however be less than that caused by the collapse of Lehman Brothers. The U.S. broker MF Global, coming off a black week, filed for bankruptcy Monday, October 31.

The U.S. broker MF Global, in particular very difficult situation because of its exposure to European debt, filed for bankruptcy, according to court documents available on Monday. The company has submitted a New York court record placing it under the protection of U.S. bankruptcy law, the board felt that this operation was "in the interest of the company, its creditors, its shareholders and other stakeholders. " This would be the eighth largest bankruptcy in the United States since 1980.Among the largest creditors of MF Global include U.S. bank JPMorgan Chase and Deutsche Bank German establishment and the media group CNBC.

MF Global, which appears as one of the first commodity dealers and products in the world, was in a very difficult position because of heavier than expected losses announced last week. Already battered on the market since the summer, the New York group had agreed on this occasion be exposed to the tune of $ 6.3 billion in European government debt, more than half in Italy and more one billion to Spain, two countries in the sights of investors.

"The biggest victim of the debt crisis"

Rating agencies have subsequently threatened to bring down its debt in the "speculative", which would have signed the end of its activities.Faced with speculation on the establishment, the action of the group was suspended earlier in the day on Wall Street and the New York branch of the Central Bank of the United States announced it would interrupt his dealings with the facility . According to the Wall Street Journal, talks with Interactive Brokers Group, which had planned for the weekend to buy the assets of the broker for approximately a billion dollars, were ultimately unsuccessful.

The bankruptcy of the group could send a shock wave in the markets, but its impact should not be as important as the impact of the collapse of Lehman Brothers in 2008. However, these are "the biggest victim so far of American debt crisis of Europe," said analyst Chris Low of FTN Financial before the announcement. "Fortunately the situation of the company is unique.

The French authorities are willing to lower their growth forecast for 2012, considered too high against the global economic slowdown, and thus provide for other relief budget for next year.

Widely expected, the prospect of saving measures or additional revenue in 2012 is only anticipating the re-shaping of the budget after the scheduled presidential and parliamentary elections of spring, whatever the outcome.

The government was caught in August, choosing to keep its forecast of growth of 1.75% next year, while lowering its forecast for 2011, a decision that French officials were justified by the desire not to show a "pessimism" excessive, in an atmosphere of high anxiety related to the sovereign debt crisis in the eurozone.

For comparison, the Reuters consensus of economists sees French growth to 0.9% or 1.0% in 2012, Deutsche Bank provides such a very low 0.3%.

The finance minister, Baroin, acknowledged Tuesday that the current target is "probably too high" and it expressed its readiness to further action to meet commitments to reduce the public deficit.

Among the factors explaining these statements, confirmation of the global economic slowdown is reflected in recent indicators and the announcement by Moody's estimated that the stable outlook associated with the French sovereign rating, the famous "triple A".

Germany this week it lowered by almost half its growth forecast for 2012, waiting now 1.0% instead of 1.8%. The German Minister of Economy, Philipp Rösler, explained that "the pace of expansion slowed, as expected."

PRESSURE INCREASED MARKET

The pressure of financial markets has intensified significantly over France since the announcement of Moody's.

The yield on government bonds to 10 years rose sharply, exceeding 3.2% Friday while it was 2.6% in early October.The yield spread with German debt (the "spread") has further increased to over 120 basis points (or 1.2 percentage points) during the meeting, beating the highest in 19 years recorded this week.

No leads have yet been revealed on possible additional measures to keep the deficit reduction promised by France, 4.5% in late 2012 after 5.7% in late 2011. The government has just promised not to touch the devices that it considers useful to support employment, consumption and hence growth.

Baroin said that "we still have enough tax loopholes, if necessary, we will remove them."Hundreds of derogating tax revenue amputate the tens of billions of euros each year.

Personalities of the majority, the rapporteur of the Committee on Finance of the National Assembly, Gilles Carrez, one of the leading experts of the budget in Parliament, to find out that 5 billion or more next year on a public expenditure of about 1,000 billion euros, would not be a problem.

Members who are currently discussing the draft budget for 2012, however, rejected amendments socialists who cut 10 to 15 billion euros of additional tax loopholes next year.

A study by rating agency Standard & Poor's issued Friday said the risk posed to the States a possible return of the recession in the euro area.The scenario of a dip recession could well lead the agency to downgrade two notches notes Portugal, Italy and Spain, the French note of it from AAA to AA +.

A senior Fitch meanwhile said Friday that the agency did not intend to lower the sovereign rating of France. "We have no plans for decommissioning of France," said David Riley, responsible for scores of sovereign debt, to reporters.

The banking sector soared after news reports citing additional support by the ECB to financial institutions. BNP closed up nearly 10%. Initials of the BNP on the Place de la Bourse in Paris.

The Paris Bourse rebounded on Friday and took 1.02%, after a volatile session, helped by the rise of the banking sector on information suggesting actions in support of the ECB, which reduced fears about the global economy.

The CAC 40 gained 28.43 points to 2810.11 points, in a trade volume of 4.082 billion euros. The day before, he had lost 5.25%.

The Paris market, which fell more than 3% in session on fears about the global economic outlook owes its rise in banking stocks that have ended on a sharp rise.

BNP Paribas gained 9.78% to 2.32 euros, Crédit Agricole 4.78% to 4.43 euros and Societe Generale 8.76% to 16.65 euros. Thinning came from a member of the Board of Governors of the European Central Bank (ECB), Ewald Nowotny, who suggested that the institution "could reintroduce refinancing operations a year for banks," according to information Press.

These words have to take second place to concerns about the risks to the global economy, particularly in the United States and Europe, as the lack of policy responses. The central bankers of the leading countries in the world, gathered in Washington for a summit of the G20, are committed to preserving the stability and liquidity of the banking sector, but no specific action has been announced.

Several values ​​highly dependent on conditions ended up as Alcatel-Lucent (0.28% to 2.18 euros), Bouygues (4.03% to 24.90 euros) and Renault (0.59% to 24.65 euros).

The president of MEDEF, Laurence Parisot, expects a return to solid growth in the coming months, despite the debt crisis and fears about sovereign debt. Optimism in contrast to the macroeconomic indicators.

Stock market crisis, debt crisis, global economic slowdown … The unfavorable context did not prevent a wave of optimism blowing on the campus of Jouy-en-Josas, which takes its MEDEF Summer University for three days. The risk of recession is avoided and businesses could even find a solid growth over the next few months, has said Laurence Parisot, president of the employers' organization.

Optimism confirmed by business leaders who travel the paths of the campus: "We see no risk of stopping the activity in France.The companies have order books filled to recover in the coming months solid growth, "says Frédéric Bedin, president of CroissancePlus.

Comments seemingly surprising when growth stalled in Europe in the second quarter and the stock market tumbled over 20% this summer. "What happened in August is disconnected from fundamentals and microeconomic indicators goals," said Laurence Parisot, however.

In fact, the results of CAC 40 companies, which jumped 10% in the first half could almost prove them right. Still, this performance, which seems to defy the laws of economic gravity will benefit economy little French.The major groups are indeed picked up growth abroad as more than two-thirds of their sales are made outside the country, and especially outside of a Europe shaken by the crisis in Greece. And they will continue to invest in Latin America and Asia, where domestic markets are dynamic. So there they will continue to create jobs so that they destroy in France for several years.

So yes, it will not be a recession but it will not flattering growth we promise Bercy and the big bosses. Because after the failure of growth in the second quarter would have recorded the activity increased by 0.7% in the third and fourth quarter to take a goal so ambitious.

While manufacturers surveyed by INSEE to show them, particularly concerned about the coming months, the engine of investment could disappoint, especially since the financial meltdown that hit French banks could complicate access to credit. Job creation and wage increases will also trickle. As a result, consumption, the traditional mainstay of the French economy ticking over. Now with the braking world, this is not the trade that will give a boost to activity. The production of the French manufacturing industry has also collapsed in August for the first time since June 2009, according to the PMI manufacturing index released by the company Markit. Result: French growth should not exceed 1.5% this year and just 1% next year.

Tim Cook, who has the difficult task of succeeding the iconic Steve Jobs at the head of Apple, can not be content to launch attractive new versions of the iPhone or the iPad.

The new group general manager at the apple will need a revolutionary product to prove that he has the shoulders to succeed Steve Jobs, and this could result in 2013 by an assault on the television show over the Internet, consider the Analysts and industry experts.

Described by Steve Jobs hobby, Apple TV – a small box launched in 2006 to connect a plasma or LCD TV to the Internet – is also one of the few missteps of the group during its dizzying ascent.

If Tim Cook succeeds where Steve Jobs has failed, the one we rented engineering operational answer to all those who question his strategic vision.

"Television is the obvious gap in the range of Apple products," said John Jackson of CCS Insight."There is constant pressure to innovate (but) the momentum of Apple that they do not need to reinvent the TV screen in the short term."

TV lounge connected to the Internet has long been considered the next big step in new technologies but so far no one has managed to launch a product that is unanimous.

If they agree on that path, Tim Cook and his band will then join a field already well occupied, including Microsoft, Google, Sony and Samsung.

"The Grail is the living room," said David Rolfe of Wedgewood Partners, of which 9.5% or nearly a billion of its portfolio is devoted to Apple.

"They will install them only if they can offer a better product than the existing ones."

OBSTACLES

But the intentions of Steve Jobs, Tim Cook and now on the front of the television are far from clear.Persistent rumors swell around an Apple TV that integrates services and content in an iTV, but some wonder if the television industry, in trouble, is ready for a revolution Apple.

The current market offers a range of disparate offerings, the viewing of streaming video via the video game consoles like Microsoft's Xbox to Google televisions sold by Sony, Samsung and others.

Apple was "the first to follow the pioneers in the market for digital tablets in digital music, in the area of ​​smartphones," said Mark Mulligan, independent specialist in digital media."They expect a market to be cleared, learn from mistakes and then launch and are better than any other before."

Analysts estimate that it takes easily to Apple five years to fully develop a new product, so is Steve Jobs has already paved the road to television or Tim Cooks should begin to think about it now.

The main obstacle to this potential project could be the concerns of the entertainment industry in terms of video licensing requested by Apple, and obtained in the past for music and video on iTunes.Leaders have said that Apple had applied 30% of revenues from sales on iTunes, accused of choking the music industry.

THE IMPORTANCE OF CHARISMA

The charisma of Steve Jobs and his negotiating skills were crucial to the launch of iTunes, which has seen the growth in sales of songs instead of albums on the web. Tim Cook has not yet rubbed it, but many praise his ability to negotiate with suppliers that make the Mac, iPhone and iPad.

"This is the status of rock-star Steve has convinced these people, they were impressed by the character," said a former label executive who took part in negotiations before the launch of iTunes."Without him, Apple could never enter into the agreement."

Tim Cook has already proved his talent to the table. Peter Misek said that Jefferies is Tim Cook who led off the iPad 2 and he led the group at a time when Japan, among the countries that make the most of electronic components, has been hit by a earthquake and a tsunami.

"Tim Cook was able to double and sometimes triple the sources of components," said Peter Misek."So far, none of the competitors (Apple) was able to gain a significant market share on the market shelves and (…) the direction of Tim Cook its launch has been crucial."

Now the former head of Compaq must show that it can be more than that implements the vision of the leader, keeping intact the creativity of Apple, but also to demonstrate his instinct to stay ahead of consumer desires.

Wall Street will have on the eye.

"The market and the group need to see that Tim (Cook) has the ability to trial to build on the winning horse," said Jane Stevenson, Vice President of the Board and CEO of Korn / Ferry International.

"The market will need to see a steady stream of innovations that bear his leg."

Daimler and Deutsche Telecom may have to pay billions of euros in damages to the German government because of the delay in the installation of a toll system for heavy goods vehicles, reported Monday the Financial Times Deutschland.

The arbitral tribunal should take advantage of the government, which claims more than 5.1 billion euros in damages.

The two German companies have so far committed no provision for the risks of contingent payments, because doing so could be considered an admission of guilt, the newspaper said.

The toll system, which includes a GPS receiver, to be launched in 2003 on German motorways.However, it was delayed for 16 months until January 2005.

The dispute has been ongoing for seven years, according to FT Deutschland, the protagonists are expecting a final decision of the Court in the coming months.

It would hardly be surprising that Wall Street connects a seventh consecutive weekly decline next week, new indicators of probable disappointing and other factors of concern to take precedence over the idea that stocks are cheap.

Since it closed April 29 to a high of nearly three years, the S & P 500 fell about 7%, within the scope of macroeconomic statistics deemed disappointing.

If not next week results in a further decline, the S & P gets his longest streak of weekly declines since 2001.

And some signs, such as activity on the options market or the ease with which carriers of resistance were depressed, seem to suggest that the decline will not jam.

"We must be realistic. For the good health of the market, although there is some form of correction," said Cliff Draughn, president of Excelsia Investment Advisors.

In the past week, the Dow Jones has sold 1.6%.For their part, the S & P 500 lost 2.2% and Nasdaq 3.3%, their sharpest decline since August 2010 weekly.

Adding to the gloomy mood of investors, poor market conditions prompted the organization of auto loans and real estate Ally Financial, which the American state is the majority shareholder, to postpone its initial public offering of six billion.

INDICATORS AND FOUR WITCHES

Indicators in the program of the week – producer prices, consumer prices, retail sales, manufacturing indices regions of New York and Philadelphia and leading indicators – should basically provide a picture of a stalled economy growth.

"It's a busy week in terms of the economy (…) I do not see much out of the expected good numbers, "said Tim Ghriskey, Investment Officer at Solaris Asset Management.

At the end of the week, investors will also face the "four witches' day four options on stocks and indexes expire simultaneously, which is usually a source of volatility.

Despite the continuous decline for nearly a month and a half, the CBOE Volatility Index, known as the "fear index", was little changed, suggesting that market participants do not seem earned by panic.

And despite significant declines accused by the Dow and the S & P 500 last week, they are still in positive territory since the beginning of the year.Only the Nasdaq is now in the red since December 31, 2010.

Furthermore, Wall Street could be boosted by the slightest sign that Democrats and Republicans are willing to agree on raising the debt ceiling from the United States.

In the absence of an agreement on this matter, the world's largest economy could be in technical default situation, a prospect that has haunted investors.