Finance Minister (Chancellor of the Exchequer), George Osborne, warned that the UK economy might slide into recession if the debt crisis was not quickly resolved.

"If the rest of Europe is heading into recession, it may be difficult to avoid in the UK," he told parliament in his address to the biannual budget.

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.

In a note which had been prepared for the G20 summit held in Cannes last week, but was not published until Friday, the Fund believes that the recovery of advanced economies patina.

"Paralysis and inconsistency have exacerbated the uncertainty, loss of confidence and increased tension of the financial market," he diagnosed.

The most advanced countries should urgently propose program medium-term fiscal consolidation credible and further reform the financial sector, while the emerging edge must accelerate the appreciation of their currencies, he said.

In particular, the IMF observes, there is "considerable uncertainty" about how to achieve fiscal sustainability in the United States, Japan and some countries in the euro area.

The first European bank also warned that it could leave the United Kingdom, where its headquarters for more than twenty years, due to new rules on capital that could cost him dearly.

Over the period from July to September, HSBC made a profit taxable underlying decline from 36% to $ 3 billion (2.18 billion euros).

The bank has already cut 5,000 positions from the first quarter of the 30,000 cuts announced by 2013.

HSBC said its provisions for credit risks, and charges were up $ 700 million at quarter end compared to their levels of last year at this time, partly because of the moratorium on foreclosures in the the United States.

"The outlook for the global economy are very difficult, as problems in developed markets beginning to affect the growth rate worldwide," said HSBC.

The composite indicator of consumer confidence stood at 82, up two points from September.

The 17 economists and analysts polled by Reuters on average expected a figure of 79 and the most pessimistic estimates gave it to 78.

Fell to 77 in October 2008, the barometer of consumer sentiment had risen to 91 in early 2010.It evolves from September 2007 below its historical average of 100.

"The opinion of households on their personal financial situation, past and future progress: the corresponding balances each earn two points and households are also more likely in September to consider as appropriate to make major purchases" (3 points), INSEE said in a statement.

"Households feel the time is more favorable than in September to save. After the sharp drop in the summer (-8 points between July and September), the corresponding balance increased by 2 points," said INSEE.

In October, households are also less likely to anticipate an increase in unemployment.This indicator loses 12 points after a sharp rise this summer (23 points between July and September).

The INSEE survey is conducted each month (except August) by telephone from approximately 2000 households.

Just under half of the 1200 ECB employees were surveyed by the union of the ECB ipso to evaluate the performance of Jean-Claude Trichet, who was replaced on November 1 by Mario Draghi.

Over 70% of respondents felt that Jean-Claude Trichet has enhanced the reputation of the ECB, 75% reporting as well as its communication regarding the bank's policy was clear and consistent.

That said, 55% think that Jean-Claude Trichet did leave the ECB's framework defined by its mandate actions – repurchase of government bonds in mind – to fight against the debt crisis.

At the same time, it also emerges a majority that the decisions made by Jean-Claude Trichet were good under the circumstances.

The ECB has set up its program – still ongoing – Redemption of debt securities issued by sovereign countries in the euro area in May 2010, at the cost of deep divisions within the bank that resulted in the resignation of his two German members, Axel Weber and Juergen Stark, this year.

Unlike the Federal Reserve, whose mission is to support as much growth as the fight against inflation, the mandate of the ECB is solely focused on the stability of consumer prices.

But with the arrival of a new president and the apparent support of the staff of the ECB's anti-crisis measures taken by Jean-Claude Trichet, a debate on enlargement of the prerogatives of the ECB could open.

The outgoing president of the ECB declined to respond to the survey results ipso.

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.

The Nikkei lost 0.4%, or 34.78 points to 8738.90 points and the Topix, larger yielded 1.56 point (0.21%) to 753.44 points.

Certain values, including Honda Motor (-2.22%), suffered greater losses, affected by the damage to their plants by flooding in Thailand.

Although investors have bought futures contracts, as well as neglected sectors recently, investors are not convinced that European leaders will address the concerns about the financial system through the measures promised by the end of the month.

"The question of how Europe will recapitalize banks remains," said Tetsuro Ii, CEO of Commons Asset Management.

The results below expectations Alcoa, attributed to slower growth, weighed on the trend.

"Those who wanted to be reassured by the U.S. results are for expenses," said Kenichi Hirano, a director at Tachibana Securities.

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.

A spokesman for the Greek government has denied reports the newspaper Ta Nea and Ethnos, which state that the other two scenarios are disordered or defective, or the implementation of the second rescue plan 109 billion euros agreed on 21 July.

Citing witness a speech given by Evangelos Venizelos, Ta Nea reported that the Greek Finance Minister would also have considered "very dangerous" for Athens to claim a discount of 50%."This would require a large coordinated effort," would have said.

A spokesman for the Ministry of Finance said not to be able to comment on articles, but a spokesman for the Greek government, Angelos Tolk, has denied.

"What we choose (for Greece) is to stay in the heart of Europe with the implementation of the decisions of July 21.The big challenge is to avoid failure or collapse. "

The Socialist deputy Tzakri Theodora, who says he listened to the speech of Evangelos Venizelos cited by the press, also denied that he had discussed the scenario with a discount of 50%.

Greek Finance Minister is on his way to Washington for a meeting with the inspectors of the mission the European Union and International Monetary Fund, European Central Bank in Greece.

Some European banks have agreed to contribute to the second bailout of Greece set July 21 by passing a 21% discount on bonds maturing before 2020.

The CEO of Deutsche Bank Josef Ackermann said earlier this month that many European banks would not stand a discount of these securities at the current market value.