The second part of the plan will be announced in May or June and will aim to increase employee productivity and quality of service, the newspaper said.

The Air France-KLM announced a savings plan for the first quarter 2012, when publishing its quarterly results in early November.

The group had announced on this occasion it would have lost the whole of 2011.

Berlin has been sold for 3.644 billion euros in loans to ten years against 6 billion expected, so that the Bundesbank, the German central bank, had to buy the remaining 39% to avoid failure of the operation.

The very low yields offered by the Bund have dampened the appetite of investors, already concerned about the cost that will impose on Germany a spiral of debt crisis in Europe.

"This is a complete disaster, absolute," said Marc Oswald, strategist Monument Securities in London.

The sustainable palm oil seems increasingly preferred to curb deforestation, according to the World Wide Fund for Nature (WWF). But the efforts of the major European manufacturers and retail chains involved are still too slow, said Tuesday the NGO. In a study of 132 European companies, WWF estimates that nearly a distributor of two and a manufacturer in five does not meet the charter of the Roundtable for Sustainable Palm Oil (RSPO), an association created in 2004 bringing together producers, industry and NGOs worldwide.Indonesia and Malaysia produce between them about 80% of world production of palm oil product with multiple uses (cosmetics, food, bio-fuels).

Europe will she fall back into recession?

The business environment is being degraded rapidly in Europe. This degradation affects all sectors and all countries. It was partly due to the crisis at work currently generating considerable uncertainty about the future, agrees and makes it more complicated financing and forced European states to austerity measures. However, even very poor, the level of the business climate remains consistent with a very small increase in activity, as evidenced particularly in industrial production in the euro zone, France and Germany.

How will evolve the euro?

It is undeniable that the crisis of public debt in the euro area weighs on the course of the single currency.However, the dollar is weakened by the weak economy in the United States, the concerns generated by last summer by the political debate on the budget and the debt and the expectation of monetary policy remains sustainable ultra- accommodative. In total, we expect an exchange rate of euro / dollar relatively stable beyond a very volatile as of weakness of any currency. In a broader perspective, the fact remains that these two currencies would be permanently impaired. Therefore, the pressure to appreciate the currencies of major emerging economies and countries like Switzerland would be persistent.

The order of revocation of three licenses for shale gas from Total and the U.S. Schuepbach in the south of France was published in the Official Gazette Thursday, confirming the government's announcement on 3 October. The three exclusive licenses for oil exploration so-called "Montelimar" (Total) "haves" and "Villeneuve de Berg" (Schuepach), which had been granted in March 2010, are repealed, according to the decree of the Ministry of Economy, Finance and Industry.

These three licenses cover an area of ​​9,672 km square in seven departments in the south of France, Ardeche, Drome, Vaucluse, Gard, Hérault, Aveyron and Lozère, where they raised a strong mobilization of opponents. The government announced on October 3 the repeal of the three licenses, which he said are the only ones among the 64 research permits oil and gas in France to cover only those shale gas. These repeals are consequential to the enactment of legislation in July banning the controversial technique of hydraulic fracturing used to extract the shale gas, making France the first country to prohibit.

Total expressed its "surprise" at the announcement of the loss of his license, explicitly pointing out that he had engaged in a report to the Department to comply with the law and not to use fracturing.The group, which was waiting for an explanation, has not yet decided whether to make an appeal. In a letter dated Wednesday to head the European shale gas in total, of which AFP has had a copy, the Department of Energy Department estimates that the French oil giant did not "sufficiently explained" the alternative technologies which he intended to use.

"I see you does not adequately explain the alternative technologies that you plan to use as part of an exploration of the potential of shale gas area, thus the government, contrary to the will of the legislature unable to appreciate the reality of your commitment not to use the technique of hydraulic fracturing, "wrote the director. Questioned by AFP, Total declined to comment immediately.In an opinion dated October 10th that the AFP has consulted the General Council of Industry, Energy and Technology (CGIET) estimates that the total license can not be repealed unless it is established that his report was "insufficient in view of the accuracy requirements of the legislature" on the techniques used.

The Texas Schuepbach, in his report, he had said he intended to continue to use hydraulic fracturing, in Bercy, which had automatically excluded. The remaining 61 exploration licenses have been validated them. After the U.S. has waived Toreador Oil shale east of Paris, only eight are for non-conventional hydrocarbons (coal gas), but their owners have all given up fracturing.

In a joint statement the leaders of the MEDEF French, German BDI and Confindustria Italian call for an early implementation of agreements reached in recent months to increase the efficiency of European Financial Stability Fund (EFSF) and strengthen the Pact stability and growth.

"The devices are not already considered, however, the 'leap' required to overcome current deficiencies in the euro area," they add.

"That can be established the foundations for a Europe of the XXI century prosperous and politically strong, we ask the EU to launch the construction of a new treaty, which will be a new step towards a political union and closer economic ".

BDI and Confindustria Medef particular wish that the future treaty changes the future European Stability Mechanism (to take over the EFSF in 2013) by granting an independent fund support only under strict conditions.

They also called for member countries of the Union "structural reforms oriented growth to enhance the competitiveness of their economies."

"Member states should focus their reform programs along the lines of the best examples and not to the EU average," said the appeal co-authored by Hans-Peter Keidel, president of the BDI, Emma Marcegaglia, president of the Confindustria and Laurence Parisot, MEDEF their counterpart.

"There is no reason for the real economy plunged into crisis again. The global real economy is intact," they say.

Two years and three months after his death, Michael Jackson continues to be talked about. The trial of the doctor opens Tuesday in Los Angeles. Conrad Murray is accused of manslaughter for having administered a powerful anesthetic June 25, 2009. But the trial is also an opportunity to shed light on the business post-mortem of Michael Jackson.

A hoard of 400 million

According to a report filed with the court a few days ago by the two executors of Michael Jackson, John Branca and John McLain, the gains of the singer since his death amounted to $ 310 million.And again, this sum is it terminated in December 2010. "Since then, commercial sales have continued to report additional income," specify the executor without giving the amount. According to Forbes, his total income would be close in fact $ 400 million, after the commercial success of his posthumous album "Michael" (3 million records) and sales of the DVD "This is it."

The singer's productions are not the only source of income. The catalog of songs owned by the company and Sony Jackson, valued at $ 1.5 billion, would yield each year between 50 and 100 million to two companies.It includes a half-million songs including 250 Beatles songs, titles of Bob Dylan, and Elvis Presley.

A fortune used to offset debts

The financial windfall of the singer in particular was used to pay the huge debts accumulated by Michael Jackson. And there were many. The Wall Street Journal has even mentioned the $ 500 million in the aftermath of his death, but this was not confirmed. He owed money to "tens of debtors," said the report simply the executors. Of the total 310 million won, "159 million was spent to pay the debts, maintenance of children and to cover funeral costs," Forbes understands.Canadian newspaper The Winnipeg Free Press said that some of the debt has been mopped but some creditors are still demanding their money.

Jackson claims his family heritage

Part of the remaining amount will soon return to the family of the singer. According to the document, John Branca and John McClain, the heirs have requested the release of $ 30 million. This amount will be divided between the mother of Michael Jackson, Katherine, and three children of the singer, Paris, Prince and Michael Joseph Junior, custody of their grandmother since the death of the artist. Another part will be allocated to charities, but the text does not mention who they are or how much will be allocated. In addition, the document states that $ 30 million will be only the beginning, other unlocks should come later.

The text adds that Katherine Jackson would sell the family home in Encino Hayvenhurst. It has not yet been estimated but it was worth $ 4.15 million in 2010. The family should take a much higher price, after making many renovations inside. The judge in the case must approve such requests on Wednesday.

Jackson brand: a bottomless pit?

The revenues of the star continue to benefit from the huge wave of nostalgia that has gripped the world after his death June 25, 2009. U.S. magazine Billboard have estimated the first anniversary of his death that the singer had reported $ 1 billion of revenue to the various cultural actors in the sale of CDs, movies, ringtones by phone, or even video games …

The effects on sales, however, should stabilize in the coming years, says Forbes.But nothing to worry about the Jackson family. According to the calculations of the magazine, the singer's earnings could be between 75 and 100 million dollars a year. Enough to leave Paris, and Prince Michael Joseph Junior freedom from want for a few years …

Although more focused on retail banking and has already cut the wing in the investment bank, Credit Agricole is still suffering from its ambitious expansion before the crisis, including its acquisition of the Greek bank Emporiki.

It is far from being immunized against the explosive cocktail of rising financing costs in dollars and fears about sovereign debt in the euro area.

Analysts contacted by Reuters, Credit Agricole should take steps similar to those of her peers.

"I fail to see how they (Credit Agricole) could do without it, they are likely to move," he told Reuters a source familiar with the group's strategy.

Several analysts based in Paris and with recent access to the management of the bank said in research notes that they expected the sale of toxic assets as well as an optimization plan loans in dollars.

Possible sign of a withdrawal in the bank, Crédit Agricole announced Tuesday that it now runs his consulting business mergers and acquisitions in the Middle East of Paris.

Crédit Agricole, mostly held by regional banks, saw its share price melted nearly half since the beginning of the year (-47.58%), a performance slightly less bad than Socgen ( -51.60%) but well behind that of BNP (-38.07%).

NO EXCEPTION FOR A PRIORI CREDIT AGRICOLE

Societe Generale announced September 12 a series of measures to strengthen its capital base and was followed two days later by the BNP has decided to reduce the size of its balance sheet of about 10% by end 2012 .

"French banks are likely to turn away from the long-term funding in dollars of aircraft or property," said Citigroup analyst Kinner Lakhani.

"I do not see why Crédit Agricole would be an exception," said he.

"There will certainly be something in there that taste," said another analyst based in London.

"They (the bank) need permission from the regional banks is a creature that moves slowly but they need to do something quickly," it adds.

A spokeswoman for Credit Agricole declined to comment on this information.

The International Monetary Fund has lowered its growth forecasts Tuesday for the world economy, saying it had "considerably weakened" and that it would continue its slow growth.

Projections of the institution semestrilles global growth to fall to a rate of about 4% until the end of 2012, against more than 5% in 2010. "The real GDP of advanced countries will expand by about anemic 1.5% in 2011 and 2% in 2012, thanks to the relaxation of the forces that have temporarily slowed the activity in most of the second quarter of 2011," specifies the institution. But these forecasts modest growth are subject to various conditions.Otherwise, Europe and the U.S. may fall into recession.

"The activity has weakened considerably," wrote economists from the IMF, recalling that it was "surprisingly low during the second quarter," in Western countries. The United States and are now credited with a GDP increase of1, 5% in 2011 against 2.5 previously. A performance that exceed those of Japan and Italy in the G7. Europe is obviously not spared the forecast growth in the euro area is thus reduced to 1.6% against 2% in 2011 before seeing his own France, reduced to 1.7% this year (-0, 4 point) and even 1.4% next year (-0.5 point).The German locomotive should work to slow sharply to 2.5% this year (forecast revised down 0.5 point) to 1.3% next year!

"In developed economies hit by the crisis, particularly in the United States, the handover of public demand to private demand is taking longer than anticipated. Moreover, the problems of debt and banking sector the euro area were much tougher than expected, "noted the Fund. He also cautions against too fast a pace of fiscal consolidation that has already begun to weigh on activity. It also shows no illusions about the risk that "consumption in advanced economies is likely to remain sluggish" and that unemployment remains "high for a while."In the end, he says, global growth will be driven mainly by developing Asia (8.2%), an oasis of prosperity, and other emerging economies.

Most disturbing is that these forecasts bleak to say the least, are conditional. They assume, in fact, "that European leaders Dam the crisis on the periphery of the euro area, that U.S. policymakers find the right balance between supporting the economy and the fiscal consolidation over the medium term and volatility global financial markets does not get worse. " In addition, they depend on the willingness of central banks to keep monetary policy accommodative enough. If these conditions are not met, then "the major developed economies could fall into recession," they warned.

The path seems particularly close to the euro area."In the peripheral countries, the major challenge will be to find the right balance between fiscal consolidation and structural reforms on the one hand, and external support, on the other, so that the adjustment of their economies to be sustainable. " In other words, reduce the deficit but without breaking growth!

Finally, Europe needs to stabilize its financial system. "The relatively low level of capitalization of banks in the euro area is a source of concern. [...] Difficulties in one country can quickly spread to Europe. From there, it could move to U.S. States – through holding European assets – and the world. " To avoid this nightmare scenario, the IMF intends to "ask the weakened financial institutions to raise more capital, preferably from private sources.Otherwise they will have to accept or to receive injections of public funds or support from EFSF either be restructured or closed. "

Including applications made by creative entrepreneurs of the self-reported basis, 41,697 companies were created last month, a figure up 7.5% from July, which was the worst month for a year and a half.

Excluding self-entrepreneurs, the increase reached 27.8% from one month to another, with 23,174 CVS-CJO creations.

The last three months, the cumulative number of start-ups fell by 9.1% over the previous period last year."The sectors that contribute most to this decline are supporting business and trade," INSEE said in a statement.

At 12 months, lower start-ups is 10.0%.