Economic Analysis and Indicators

Hewlett-Packard reported Wednesday evening by a decline of nearly 44% in quarterly profit, weighed down by weak sales of PCs and printers, which has reduced the title in after-hours trading.

The U.S. group has reported net earnings of $ 1.47 billion in the first quarter of its fiscal year, ended in January, or 73 cents a share, against $ 2.6 billion ( $ 1.17 per share) a year earlier.

Excluding items, HP displays earnings per share (EPS) of 92 cents. Analysts on average expected 87 cents a share, according to Thomson Reuters I / B / E / S.

Revenues declined 7% to $ 30 billion, a level slightly lower than the consensus.

HP saw its sales decline in its three main divisions: PCs, printers and business machines.

After the publication of these results, the action has lost more than 3% in after-hours transactions.

Enrollment managers and skilled workers have been growing. In contrast, unskilled workers and employees are in decline by 5% and 7.3%. Officers, employees

The temporary employment declined by 0.4% in October compared to October 2010, with a decline in all major sectors except industry, according to the barometer Prism job on Monday. Temporary employment is considered an indicator of future trends in the labor market.

In October, the number of executives and middle management and skilled workers have been growing 5.9% and 5.5%. In contrast, unskilled workers and employees are in decline by 5% and 7.3%. If the industry increased its use of temporary staff in October compared with October 2010 (1.8%), the other major sectors were down: construction (-0.6%), transport (-0.8 %), services (-4.4%) and trade (-4.5%).

These national statistics mask large regional differences: two regions stand out in terms of increase, Midi-Pyrenees (12.5%) and Haute-Normandie (+10.6%). However, in the Ile-de-France, the enrollment decline is temporary 7.3% in October over a year. There was also a decrease in Limousin (-7%) in the Languedoc-Roussillon (-6%) in Provence-Alpes-Côte d'Azur (-5.5%), Britain (-4.5%).

This barometer is determined by the group Umanis from the statistics provided by a panel of temporary employment representative, as Prism over 80% of temporary employment.

According to the German Chancellor, the current generation is facing "a testing history," and this is "to show that Europe can reach a turning point" with this financial crisis. German Chancellor Angela Merkel.

German Chancellor Angela Merkel said Monday at the Conservative party conference that Europe knew "may" with the debt crisis "its time the most difficult since the Second World War." "Europe (live) one of the most difficult times since the Second World War, perhaps even its most difficult hour," she warned at the conference of the Christian Democratic Union (CDU) to Leipzig in the former GDR.

"Every generation has its political challenge," said the Chancellor, noting that the generation of post-war Chancellor Konrad Adenauer had built Europe and that of Helmut Kohl German unity and European.

The rating agency claims to have taken action following the announcement of a wrong note degradation of France. She said also cooperate with the authorities have launched investigations. The rating agency Standard

The rating agency Standard & Poor's, which announced Thursday by mistake that France had lost its "AAA" rating, said on Friday it had taken steps to avoid repeating such a blunder, due to a confusion of his computer system. She said also cooperate with the authorities have launched investigations.In a statement, S & P states that it "determined that the wrong message yesterday (Thursday) on a gradient is a technical error completely independent of the sovereign rating of France and took immediate steps to prevent a similar error to reproduce ".

The agency explains that the error was triggered by a reassessment of the risks associated with banking sectors in different countries. For France, this criterion has been changed to "Not available" and "the system has erroneously interpreted this change as a degradation + +, which triggered the sending of a message to a limited number of subscribers registered to receive email alerts, "she said.

The Tokyo Stock Exchange ended down 1.7% Tuesday, grim company results and revived concerns about the Europe that encouraged profit-taking on gains in recent days.

The Nikkei lost 152.87 points to 8,835.52 and the Topix, larger yielded 9.56 points (-1.25%) to 754.5

"The shares are under pressure, mainly because so many reports contain results of bad news," said Yutaka Shiraki, a strategist at Mitsubishi UFJ Morgan Stanley Securities.

Suffering like other exporters in the rise of the yen, Panasonic dropped 5.07% after saying the day before an anticipated annual net loss of 420 billion yen (3.8 billion), the highest in a decade he attributes to a strong increase in restructuring costs and a lowered demand in Europe and the United States.

Japan intervened unilaterally on Monday the currency market to try to curb the upward trend of the yen after the Japanese currency had reached a new record high against the dollar.

But some analysts believe that the strength of the yen has already been reflected in the positions of many investors.

Beijing could become an important contributor to the relief fund of the euro according to European diplomats. The use of third party investors will be part of discussions at the EU summit this evening. Chinese Premier Wen Jiabao at the "Forum Summer Davos" in Dalian City, September 14, 2011.

China is ready to replenish the European Financial Stability Fund (EFSF), the main instrument to stem the debt crisis in the euro area, said European diplomats Wednesday before a summit of EU leaders in Brussels. "China is to" replenish the fund by creating an autonomous investment ("spin-off"), said a diplomat speaking on condition of anonymity. Other emerging powers (Brazil, Russia, India, China, South Africa) have "not yet" indicated whether they participated in the fund, he added.

Argentina has made clear it would not participate in the rescue of the euro area, said another diplomat. The diplomats did not specify how high should reach the participation of China. The Director of EFSF, Klaus Regling, is expected in Beijing Friday, after the summit, also announced the Delegation of the European Union in Beijing.

The spokesman for the Chinese Foreign Ministry, Jiang Yu, said Wednesday that China had "an open mind" and would "talk to the Europeans of many ways to cooperate." China has reiterated several times in recent weeks support for the euro area. It was unclear what would be the interlocutors in Beijing by Mr. Regling and no official was immediately available to the Ministry of Finance or the central bank.The Heads of State and Government EU could decide Wednesday night to extend the Emergency Fund of the euro area to external investors.

The markets expect strong action from the summit of heads of state and government of the Monetary Union in Brussels, which will open in the evening after a summit of 27 countries of the European Union. But hopes of a big deal are slim because of persistent differences between Europeans. EU leaders must avoid at all costs including the contagion of the Greek debt to Italy and Spain, especially by finding a way to increase the firepower of the EFSF, with a capacity of 440 billion deemed insufficient to meet the crisis.

On Wednesday, the China Daily said that emerging markets and including China agreed to participate in a European relief fund via the International Monetary Fund (IMF). Citing an unidentified source "close to the European decision-makers," the newspaper stated that "the agreement (the emerging) could be included in the final document of the summit of European leaders", if the Brussels summit decides to open the fund to of external public and private investors. In this case, China, which already holds some 500 billion of European sovereign debt, according to French and German experts, and is sitting on a huge cushion of foreign exchange reserves of 3,200 billion, would be well positioned to invest in the EFSF.The EFSF must be reinforced, either by him to carry the debt issued by European countries, either through an expansion of the means at its disposal, including through the use of outside investors.

The European Union must reform its treaties to prevent in the future of its member states to create problems for others, as is the case now, especially for Greece, said Sunday the president of the Central Bank Jean -Claude Trichet.

He was speaking on Europe 1 for two weeks at the end of his term, and when European countries are trying to stem the crisis caused by the Greek debt and its impact on banks that have lent money.

"We must think about the future. Tomorrow, I think we need to change the treaty to be able to prevent a member of the euro area to roam and create problems for all others," he said.

France and Germany have pledged Sunday to respond "lasting and comprehensive peace" to the crisis in the euro area for the G20 summit scheduled for early November in Cannes, which will include a recapitalization of banks in Europe.

Met for crisis talks in Berlin, Nicolas Sarkozy and Angela Merkel said they would formulate joint proposals to do so while refusing to give any details at this point.

"You will see the end of an entire fully functional," promised the Chancellor during a press briefing.

Nicolas Sarkozy for his part stressed that Europe should "have solved its problems by the G20 to Cannes," several members of the forum, including the United States, having recently expressed concern over the inability of Europeans to stop the crisis caused budget problems for Greece.

French and German leaders welcomed the fact that almost all European countries have ratified the Second Plan aid to Greece adopted July 21, which also expands the powers of the European Financial Stability Fund (EFSF), the fund urgency of the euro area.

While starting to speak out to condemn the new plan to help poor, they said they expected the report of the troika (EU-European Central Bank and International Monetary Fund) on the situation in Greece before any decision.

"We believe that the troika will be able to submit a sustainable solution for Greece, a member of the euro," said Angela Merkel predicted.

AGREEMENT "SOLD" ON THE BANKS

The Chancellor and the President also discussed the recapitalization of banks in Europe, an issue that has emerged under the pressure of the markets, concerned about the resilience of the banking system facing the European financial and economic crisis due to its exposure to country the worst off.

The first said that Paris and Berlin were "determined to do whatever it takes to ensure the recapitalization of our banks."

French President for his part assured that the agreement between the two countries on how and where the process was considered "complete", denying the reports of differences over the use of EFSF to provide the necessary funds.

While capital needs of European banks have been estimated between 100 and 200 billion dollars by the IMF, Merkel said that the new European Banking Authority and the International Monetary Fund would be asked to ensure that what is proposed is "durable and strong."

Nicolas Sarkozy referred to "a meeting (held) at a date to be fixed for the detail of what we do."

He said other than France and Germany were preparing a number of adjustments to the Treaties to strengthen European integration in the euro area.

The head of the French government has finally responded to those who, like the World Bank President Robert Zoellick, to accuse European leaders lack the vision that inspired their predecessors, stressing that it was now not to build projects, but to make decisions in a crisis without precedent.

"It is precisely because at that time there were grand visions that have failed to address issues that were not the details that we are now both in managing the crisis and solve problems that should have been solved before, "he said.

"Everyone knows, Europe has chosen the single currency without even thinking about what his government would be economic, not to think about the issues of harmonization of fiscal and economic policies and we have now in crisis response these problems. Well, we are determined to do it! "

The U.S. economy has created far more jobs than expected in September, easing fears of a recession but failed to bring down a high unemployment rate, show official statistics published Friday.

Last month, 103,000 non-farm jobs were created, according to the Labor Department, while economists on average had forecast 60,000 new jobs.

The unemployment rate however remained unchanged from one month to the other at 9.1%, a level "unacceptable" for the White House.

"We clearly need a faster economic growth to put Americans to work," could be read on the blog from the White House after the release of employment figures.

The plan for the use of some $ 447 billion announced last month by President Barack Obama is necessary to avoid a breakdown of the economy and lower unemployment rates, said one of the most senior economic advisers the White House.

"It's always a comfort when employment growth is better than expected, but (…) it's not nearly enough," Gene Sperling found on CNBC.

Statistics in September partly reflects the reintroduction of 45,000 employees of Verizon in the number of jobs created, they were not in August because of a strike.By excluding these employees, 58,000 new jobs were created.

The disappointing figures in August, which showed zero job creation, have been revised to bring out 57,000 new jobs. That of July was also revised upward to 127,000 against 85,000 previously.

Overall, the private sector has created 137,000 jobs, 100,000 against and 42,000 expected in August.The public sector has eliminated 34,000 jobs to him.

RELIEF

The employment figures feed for investors hope that the United States can avoid another recession despite gloomy summer and while the Federal Reserve this week reiterated its readiness to take further steps to support faltering economy.

Last week, the growth of gross domestic product (GDP) U.S. second quarter was revised upwards to 1.3% against 1.0% in the first estimate.

Recent indicators of the manufacturing sector, business spending and auto sales leave now think the economy is doing better than expected in the third quarter, despite the debt crisis that worries the European side of the Atlantic.

"The markets will show a little relief, as this supports the idea that we are not going to go into another recession, but it is doing," Judge Robert Lutts, president of Cabot Money Management.

Hourly wages have also increased by 4 cents in September after falling all the previous month.They then recorded their first decline since October 2009, pushing the savings to its lowest level for over a year and a half.

"The increase in job creation (…) is comforting and exciting to the market. But it seems premature to use these numbers to say, regarding the economy in general, as we got out of the inn "moderates John Kilduff, partner of Capital hedge fund in New York Again.

In September, the U.S. economy has eliminated 13,000 manufacturing jobs, after having destroyed in August 4000.

Economists estimate that the economy must grow by at least 2.5% per year and create at least 125,000 jobs each month to keep the unemployment rate to rise.

The Apple stock traded in Frankfurt were down more than 3% in pre-market transactions after the death of the founder and former head of the group flagship, Steve Jobs.

Around 6:15 GMT, down 3.3%.

"This announcement sailing even discussions on the financial crisis, at least for today," Judge Roger Peeters, of Close Brothers Seydler.