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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.

Values ​​to follow on Wednesday at the Paris Bourse, where the CAC 40 advances 0.57% to 3,430.96 points at 12:15, investors hoping that in Greece, leaders policies validate the draft agreement on the reforms demanded by its lenders in exchange for the second aid package of 130 billion euros.

* THE BANKING among the main beneficiaries of the market in hopes of a solution in Greece, while the European Financial Stability Fund (EFSF) will, according to Director General ral Assistant Christopher Frankel, probably have to play a key role in restoring the situation of the Greek debt.

FARM CREDIT advance of 3.74%, 2.91% BNP Paribas and Societe Generale 2.48%. The Stoxx sector index was 1.25% grants.

* The CYCLIC also benefit from the possible impact on growth in the euro area of ​​a favorable outcome to the crisis in Greece. ALCATEL-LUCENT rose 1.86%, 1.78% of Renault and Lafarge of 1.33%. The Stoxx auto sector is 1.21% and the resource base 1.33%.

* ArcelorMittal (4.25%) is ahead of increases in the CAC 40, the value advantage as the eve of its earnings forecast for 2012, and its solid fundamentals judged by the market ;.

* VINCI (1.79%) said Tuesday night expect a stabilization of its operating margin in 2012 to its 2011 level, in a context of expected stagnation in activity due to uncertainties in Europe.

* TF1 (7.29%) is ahead of increases in the SBF 120 and M6 earns 2.51%, Bank of America Merrill Lynch has raised its recommendation on the two values ​​of "neutral" to "buy" . 

* NEXANS (6.98%), the world of cable, said he was confident for 2012 after a year 2011 marked by strong organic growth but also by a net loss of 178 million euros, a result of provisions related to an investigation of European competition authorities.

* KLÉPIERRE (1.84%) will propose for 2011 a dividend up 7.4%, to 1.45 euros per share, after last year's growth of 3 , 6% of rent, but the land has made no comment on the possible reduction of the participation of BNP Paribas.

* A reverse trend, SANOFI (-1.75%) shows the largest decrease in the CAC 40, 2012 announcing the exercise more difficult than last year with the loss of patents of several of its major EM ; medicines, including its anticoagulant Plavix. 

* EADS lost 1.24% while the euro rose against the greenback in morning its highest level since mid-December to 1.3290 dollars.

* BOURBON (-2.49%) signed the largest decrease in the SBF 120 on profit-taking, analysts said, after rising 29% since the beginning of the year . The group reported an acceleration of growth in the fourth quarter of 2011, which allowed him to cross the symbolic milestone of one billion euros in annual sales, and pre see a continued improvement in 2012.

* FAURECIA lost 1.32% after a gain of 37% between late December and February 7. The supplier has confirmed its 2015 target of sales after a strong 2011 for the automotive supplier, with North America and China and despite an expected slowdown in 2012 in part because of Europe.

PSA Peugeot Citroën, which owns 57.4% of Faurecia, gaining 2.08%.

* THALES (-1.36%) has published an annual turnover down 1% and slightly below market expectations, but confirmed its operating margin targets for 2011 and 2012.

* ADP was down 1.04%. HSBC lowered its guidance on the title to "underweight", against "neutral".

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.

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.

The U.S. economy has created a little less than expected jobs in October, but the unemployment rate returned to 9.0%, its lowest level in six months, and the upward revision of new posts of August and September suggests that the labor market found some strength.

The number of jobs created was 80,000 last month, showed the statistics released Friday by the Labor Department, while economists predicted 95,000.But the months of September and August, that number was revised up and give 102,000 more jobs than previously announced.

The unemployment rate also fell to 9.0% against 9.1% in September, even though entered the labor market became more numerous.

"This is a step in the right direction," said John Canally, an economist at LPL Financial.

Wall Street opened slightly higher on Monday, the strong results announced by Caterpillar has somewhat overshadowed the skepticism of investors about the ability of the euro zone to resolve its debt crisis.

After the summit on Sunday, investors are eagerly awaiting the outcome of the next European meeting on Wednesday, including the question of the level of depreciation applied to debt securities held by the Greek private sector.

"We assume that the agreements will be announced in the coming days," said Peter Boockvar, market strategist at Miller Tabak & Co.

In early trade, the Dow Jones gained 0.29% to 11,843.15 points.The Standard & Poor's, wider, taking 0.33% to 1242.34 points while the Nasdaq composite gained 0.45% to 2649.43.

The beautiful performance as Caterpillar, up about 5% at the opening, supports the trend.

The world's largest earth-moving machinery and equipment for the mining industry reported Monday a record turnover and a 44% jump in profit in the third quarter, well above analysts' expectations.

Google loses the title, however, 0.45%. The group spoke with at least two private equity investment opportunity to help finance a transaction to buy the core business of its competitor Yahoo (1.97%), reports the Wall Street Journal, citing a source familiar with the matter.

The fiscal deficit of the French government reached 102.8 billion euros at the end of August. The government's goal is to reduce it to 95.5 billion at the end of the year. View of the Ministry of Economy and Finance at Bercy.

The deficit of state budget declined by about twenty billion euros in late August from the previous year to 102.8 billion, thanks to lower expenses and to a lesser extent, higher revenue, announced Friday the Budget Ministry. For the full year 2011, the government deficit is expected at 95.5 billion, but Bercy ensures that the figures for August are "in line with the target."

Tax revenues expected by the end of the year should help to bring the budget in the nails.Compliance with this objective is needed for France to maintain its commitment to reduce the public deficit (state, local and Social Security) 7.1% of gross domestic product (GDP) last year to 5.7% this years. In late August 2010, the state budget recorded a deficit of 122.1 billion.

Expenses (general budget and levies on revenues) fell back sharply, to 243 billion at end August 2011, against 270.1 billion a year earlier, thanks to the almost total extinction of the extra cost associated transient, last year, to reform of business tax. Last year was also marked by the expenditure of "future investment" financed by the "great debt", said the ministry.However, the actual burden of debt interest late August rose by 4.5 billion from the same date a year earlier.

The reform of the ISF has weighed on think

For their part, the general budget revenue (net of rebates and refunds) amounted to 172 billion in late August against 169.5 billion a year earlier. The net tax revenues were up 4.1 billion a year to the next. The proceeds from the corporate income tax, greatly affected during the crisis, continues to rebound and increase by one third. VAT and income tax also report more than last year, but in a much smaller mesure.En contrast, "other taxes" retreat, but the ministry says this is due to "report to September exceptionally this year, the due date of the solidarity tax on wealth, due to the implementation of the recent reform of the taxation of wealth. "

Finally, the "special accounts", which include advances and financial transactions, recorded a deterioration of 10.3 billion euros from the end of August 2011, due in disbursements in January, March and July of loans Greece. But "any significant event" has changed this in August, says Bercy.

The deficit of the general social security will be reduced to 13.9 billion euros in 2012 due to measures announced in late August by Prime Minister François Fillon, to new efficiencies in health and pension reforms, according to the budget proposal presented Thursday.

The improvement comes mainly of sickness, the deficit will be reduced to 5.9 billion euros after -9.6 billion this year. The deficit in the pension industry (pensions) will be reduced to 5.8 billion euros from -6.0 billion in 2011.

"Our forecast for 2012 is 14 billion deficit.Fourteen billion euros when it was scheduled for 2015, so we have two years ahead, more than two years ahead, "said budget minister, Valérie Pécresse, on France 2.

The bill will be discussed on October 5 by the Cabinet and October 25 in the National Assembly.

The deficit of the family branch will be reduced to 2.3 billion euros from -2.6 billion in 2011 and the industry accidents, occupational diseases have a surplus of 100 million euros after a balance in 2011.

Saving measures and provided additional revenue for next year will reduce the deficit of the general system of 7.3 billion euros compared to the balance that would have been projected trend of -21.2 billion in 2012, says government.

Six billion on 12 billion of savings and additional revenue announced in August to reinforce the objectives of reducing the public deficit will improve in particular accounts for Social Security.

Weakening of the PROTECTION

The deficit of the Old Age Solidarity Fund will be reduced to 3.7 billion euros from -3.8 billion in 2011.

Objective National health insurance expenditure (ONDAM), the main instrument for controlling health care costs, will be set as expected to 2.8% next year against 2.9% in 2011. This objective requires to achieve 2.2 billion euros in savings.

The assumptions for calculating the 2012 budget are an increase in the wage bill by 3.7% next year and inflation of 1.7%.Economic growth is expected at 1.75%.

The projected savings for 2012 include new delisting, about 40 million euros, 620 million euros in savings on drug prices through reductions negotiated with pharmaceutical companies and 100 million by promoting generic drugs.

The financial statements included in the calculation of government deficit in France the government wants to reduce to 5.7% of GDP end-2011, 4.5% and 3% end 2012 end 2013, returning to the 3% limit of Stability Pact and European Growth.

The prospect of a return to balanced health insurance in 2015 is now "realistic," says the government.

The Court of Auditors, an independent certifying the public accounts, said in early September that the deficit of the parent threatened the very survival of social protection in France.

It recommended in a report to increase revenue and curb spending, especially health, by cutting including "niche" social, who amputated the Public Accounts for efficiency often discussed.

"The finding of the Court is of the extreme fragility of our social protection", said its first president, Didier Migaud."The sustainability of social deficits now calls into question the sustainability of our welfare system."

The draft budget law (PLF) for 2012, which will detail the steps outside Social Security, will be presented next Wednesday by the Cabinet and October 18 in the National Assembly.

Dexia Bank has distributed to 25 billion euros of toxic loans to municipalities, departments, regions or hospitals according to a confidential listing revealed by Liberation. The additional cost for local governments amount to 3.9 billion.

1500 Five local authorities and public institutions have signed French toxic loans, according to a confidential document which the bank Dexia reported Wednesday Liberation.

The newspaper has obtained "a confidential file of the bank Dexia Credit Local (DCL) which lists 5,500 local governments and public institutions that have subscribed the famous toxic + loan + between 1995 and 2009." "This listing …certify that at the height of the bubble, DCL had distributed 25 billion euros for its customers, "said Liberation, which states that" as estimated by the bank, the additional cost of these loans was estimated at 3.9 billion at the end of 2009 "." This means that communities should pay a penalty of this order, "he says.

Dexia document "shows that everyone is involved: communities of both right and left large urban communities such as towns," said he. The newspaper cites the example of Antibes ", which had borrowed 60 million would pay 21 million in addition to that amount." "The department of the Loire regulations, provide a slate of 22 million in excess of 96 million of loans and toxic Dijon hospital should pay 31 million of interest on a loan of 111 million toxic," writes release. The site of everyday has posted the map of France of Commons infected.

The mechanisms of these toxic loans, the newspaper quoted the party loans to fixed rate and part variable rate "that is, for example indexed to the euro-Swiss franc." "When parity goes below a certain threshold, the rate increased in proportion," says Liberation. "With the crisis of the summer … because of the rise of the Swiss franc, many municipalities have seen their rates rise to 10 or 15%," he writes.

"The addition could still climb with loans running until 2025 or 2030," said Libe which concludes that "these toxic loans have not finished rotting community life. And the taxpayers, who bears a double threat: the increase of local taxes and a deficit of public services ".

Airbus is closely monitoring the evolution of European fiscal crisis, potential vector of global recession, but believes that in this case, Asia, particularly China, represent an island of growth, said Thursday the Director General Officer of Airbus.

"At the end of August, we recorded 1,000 net orders (in Europe) and air traffic is alive and well," said Fabrice Brégier during an interview with Reuters on the sidelines of World Economic Forum in Dalian, China.

"However, we expect some adjustments to come. We are in a very different situation from 2008-2009.This time, we see a difficulty in some European states over-indebted, but the real economy is healthy. "

The European budget crisis has revived fears of a relapse of the economy into recession.Such a scenario would cause a slowdown in air traffic and thus the growth of airlines.

"A major recession would cause a decline in traffic and therefore the companies would not generate enough cash to buy new planes," said Fabrice Brégier.

However, he stressed that EADS subsidiary is in a better position than during the crisis of the 1990s or that of 2008/2009.

"Now we're on the world market, so we no longer sell exclusively to Europe and the United States and most of our order book comes from Asia, especially China," he said .

The first super jumbo Airbus and will be delivered to the carrier China Southern Airlines in the coming weeks and the unit will be operational in November.

In early September, Boeing announced that China would need 5,000 commercial aircraft in the next 20 years, for a total of $ 600 billion, representing an increase of 25% over the previous estimate of U.S. manufacturer.

Airbus, which currently holds a market share of 45% in China, to publish its forecast on Sept. 20 world.According to Fabrice Brégier, the market share of Airbus in China will exceed 50% in the coming years.

"We plan to deliver about 90 aircraft to China next year and about 100 this year," said the chief operating officer.

In June, Chinese companies China Aviation Supplies Industrial and Commercial Bank of China ordered 88 Airbus A320s for 7.5 billion dollars (5.4 billion euros) at list prices, with delivery expected between 2012 and 2015.