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The new car registrations fell 20.7% in January. The slump was even more dramatic for PSA Peugeot Citroen and Renault. The new Renault parked Flins-sur-Seine, near Paris The French car market plunged in January, a victim of weak controls and an unfavorable comparison with the beginning of the year 2011 where he had been supported by the premium to casse.Les registrations fell 20.7% in raw data to 147,143 units, according to the Committee of French Automobile Manufacturers (CCFA). A comparable number of working days, the decline is even greater at 24.3%. The meltdown is spectacular for the two French carmakers. Registrations of PSA Peugeot Citroën have collapsed by 27.4% (30% for Peugeot and Citroen 25%) and those of the Renault group 32.7% (-37% for the Renault brand and -10.5 % for the low cost brand Dacia). unfavorable base effect "It is like the month of January 2011 which was the highest for ten years" with over 185,000 new cars sold, moderates a spokesman for the CCFA. The scrappage scheme, set up by the government to support sales during the crisis, had been reduced gradually and disappeared completely at 31 December 2010. But it was on cars purchased and delivered to date through March 2011.Pour However, the aftermath of his death is not sufficient alone to explain the plunge last month. "We know that the orders (new car, note) were low in December, resulting in registrations," said the spokesman for the CCFA, which warns that the first quarter should be in part difficile.Chômage PSAConcernant orders in January, "they were stable compared to last year" for Renault, said France's commercial director Bernard Cambier. Peugeot, however, rose by 20%, according to the director of Peugeot France, Olivier Veyrier. To face these headwinds, PSA has already planned a week of partial unemployment in February or March for more than 20,000 of its employees to reduce the major German manufacturers stocks.Les gagnantsLes German manufacturers, champions of high-end, n have not this problem. Their registrations rose in January, 18% for the Volkswagen group, 16% for BMW. Only the group runs out of steam Mercedes (+0.8%), due to the underperformance of its brand Smart (-26%). Sales of Nissan Japan also increased, while those of the American Ford, General Motors, the Toyota Japanese, Italian Fiat and Hyundai have décru.La Korean War price until when? To boost sales, the groups are likely to continue the price war in which they are engaged for several months. But "manufacturers can not continue to have sustainable margins deteriorate," warned the president of the National Professional automotive (CNPA) Patrick Bailly. In this context, "the launches of new models of French manufacturers, PSA for the 208 and the new Clio Renault, will have considerable importance," warns Flavien Neuvy, head of the observatory Cetelem.La Peugeot 208 will go on sale this spring. The Clio IV will appear in dealerships this fall. Renault is also counting on the future Dacia SUV, the Lodgy. "This is the heart of their range and sales," said Mr. Neuvy still, for whom the French could enable cars to boost sales to individuals who continue to decline, unlike those companies. Registrations of light commercial vehicles, specialty French manufacturers, have better kept, with a decline of 2.5% in raw data to 32,707 units.

European shares fell sharply Monday in volume again, failure of U.S. lawmakers to agree on reducing the federal deficit and a warning from Moody's about the "triple A" of France with weighed on investor sentiment.

In Paris the CAC 40 yielded 3.41% at 2894.94 points.

The new Italian Prime Minister revealed the composition of his government. In addition to its status as prime minister, he will take the reins of the Ministry of Economy at a time when the country is under pressure from the markets. Mario Monti.

The new Italian Prime Mario Monti said on Wednesday it would also economy minister, after his team presented to the President of the Republic Giorgio Napolitano. The former European Commissioner, 68, was named to replace Silvio Berlusconi as head of government while Italy is in danger of suffocation from the weight of its debt.

Monti also decided to create a large Ministry of Development, Infrastructure and Transport told the boss that the second national banking group Intesa Sanpaolo, Corrado Passera. Mr.Monti said the combination of these three portfolios within the same department by the "logic" to "put more centrally coordinated initiatives for economic growth."

Other key ministries were entrusted to experienced technocrats: Foreign Affairs to Ambassador Giulio Terzi di Sant'Agata, the Defense Admiral Giampaolo di Paola, the Interior to Prefect Anna Maria Cancellieri. Corrado Clini, Director General of Ministry of Environment in the last 10 years, was appointed minister. The government of Mario Monti has a total of three women who take charge of Justice, Interior and Labour and Social Policy, said Mr Monti.

European leaders are determined to act in a coordinated response to the crisis in the euro area, said Wednesday the executive director of the International Monetary Fund, Christine Lagarde.

On the eve of the G20 summit in Cannes, the former French Finance Minister acknowledged that could occur in spurts, a thinly veiled reference to the surprise announcement of a referendum in Greece, but it ensured that the determination of the Europeans was decisive.

When working at B20, which brings together representatives of world's largest companies, in Cannes, she explained that global growth was slowing, but she persisted.

She added that the downside risks weighing on growth, suggesting a negative interaction of financial and economic, as well as the risk of social unrest.

About the crisis in the eurozone, "I've never seen so much determination and will to act in a coordinated manner," said Christine Lagarde.

"You will see (reactions such as) 'but what does it speak? What have we seen two days ago?' Of course, things are not smooth, sometimes in fits and starts major, "she added.

"But what matters is what was decided on October 27 in the morning (…) and what will count tomorrow, in the days, weeks and months, it is the resilience and determination of the partners the euro, European partners, "added Christine Lagarde.

All eyes are on Berlin where German parliamentarians must vote on a proposed reform of the European Financial Stability Fund (EFSF) earlier this afternoon after a speech by Angela Merkel.The Chancellor will then travel to Brussels for EU summits and the euro area, which should provide practical solutions to the debt crisis.

At 9:30, the CAC 40 lost 0.35% to 3163 points while the Eurofirst 300 was almost stable.

European markets are down, investors holding their breath awaiting the outcome of the day announced as crucial for the future of the euro area.

"It is expected that the Bundestag decides on reinforcements EFSF and the role of the ECB in managing the crisis," said a trader based in Paris.

Values, PSA fell sharply under the influence of lowering its forecast for 2011 after a third quarter marked by lower volumes and increased competition on prices in Europe.The group is likely to reduce its workforce by 10% in Europe.

Ingenico, in contrast, was part up 5% in early trade Wednesday of the Paris Bourse, the manufacturer of payment terminals has published the day before its sales for the third quarter.

The euro remains firm and resolutely clings to a level above $ 1.39, while the German Bunds are hesitant, waiting for a clearer trend in equity markets.

Spot gold rose 1% touching a high of more than a month, reflecting investor fears that the crisis drags on still.

Olympus still has the title fell 6.81% Friday, the market value of the Japanese and melted with about 50% since last Friday, the day he announced the dismissal of its chief executive Michael Woodford.

Investors have pushed the action and the manufacturer of cameras and optical instruments of precision to a low of two and a half years, adding to even more pressure on the group to be explained on unusually high consulting fees paid in connection with an acquisition and revealed by the ousted leader.

Olympus acknowledged Wednesday it had paid $ 687 million (498 million) in financial advisors in the purchase of the British manufacturer of medical equipment Gyrus.

These fees represent a third of the price of the acquisition, whereas traditionally they account for only 1% or 2% of the value of a transaction, according to a PriceWaterhouseCoopers study commissioned by Michael Woodford.

POLICE PROTECTION

The latter told Reuters on Thursday it had filed for protection under the British police after submitting new information to investigators British anti-fraud regarding fees.

In the data transmitted to the authorities by Michael Woodford, a former investment banker from Japan appears to be the central figure in the matter of fees.

According to these documents, Hajime "Jim" Sagawa was the owner of AXIS, a financial services company little known American who received the exorbitant fees reported by Michael Woodford.

Olympus, which denies any impropriety, said the fees had been paid to its subsidiary AXIS Axam Investments, a company registered in the Cayman Islands, including Hajime Sagawa was a member of the Board, the report of PricewaterhouseCoopers.

Reuters visited the home of the latter, a former Nomura banker, only to find that his wife, who assured that her husband had done nothing wrong.

INVESTIGATION OF SESC JAPAN

Michael Woodford has also written to the Securities and Exchange Surveillance Commission (SESC), the authority of the Japanese financial markets, asking him to consider the case Olympus.

An investigation by the SESC could take months. Financial Services Minister Shozaburo Jim said the policeman of the financial sector would work, but refused to comment on individual cases.

"Olympus has clearly withheld information to investors. And even if she is not guilty of actions contrary to law, management has breached its obligations vis-à-vis shareholders.It should take responsibility, "said Shigeo Sugawara, manager of Sompo Japan Nipponkoa investments in Asset Management.

Olympus may have to spend significant impairment likely to weaken its balance sheet. And even if, according to manager, many candidates would be interested in the instruments of precision optics group, no one would touch it before the case is improper fees paid.

The company is now worth some $ 4.5 billion.

Brokers have suspended their coverage of Olympus as key shareholders and require that the group be made public links between management and its financial advisors.

Faced with strong pressure on financial markets and fears of a relapse of the economy in recession, the Federal Reserve prepares to influence long rates to support economic activity, an action similar to that conducted in the years 60 and then christened "Operation Twist".

With an eye on the sinking of the crisis of sovereign debt in Europe and another on an unemployment rate fails to fall below 9% in the U.S., the Fed, whose monetary policy committee meets Tuesday and Wednesday, is expected to gradually change the composition of its balance sheet in order to increase the share of long-term securities.

While interest rates in the short term are close to zero and that the balance was weighted by purchasing debt securities for more than 2.000 billion dollars without conclusive effect on the economy for now, the Fed should look to support new ways of focusing on its balance sheet on the long-term bonds at the expense of short titles.

"The signal that the Fed is still active in supporting growth," said Michelle Meyer, economist at Bank of America Merrill Lynch.

A series of disappointing economic indicators were dampened hopes for an accelerated growth in the second half in the United States, after a first half of the year without momentum.

U.S. growth was 1.0% annual rate in the first half and representatives from the Fed announced a downward revision of economic forecasts.

The weaker growth outlook in the summer had led the Federal Reserve chairman Ben Bernanke to announce at the end of last month that the work of the Monetary Policy Committee would take place over two days in September rather than alone.

United States, the loss of the AAA, announced August 6 by the rating agency Standard & Poor's in light of the political divisions in the consolidation of public finances, caused a shock to business confidence and households.

In August, the U.S. economy has not created any employment and retail sales stagnated.

CONSENSUS

At the same time the crisis of sovereign debt in the euro area has increased and the lowering surprise a notch by S & P notes short and long term of Italy, still on negative watch by Moody's, fueled fears of contagion fueled by the situation in Greece.

Other central banks have inflected their monetary policy to reflect the deteriorating global economic environment during the summer.

The European Central Bank kept its rates unchanged last week and reported at least a pause in the recovery cycle that began in April.The central banks of Canada, South Korea and Indonesia among others have given to tighten monetary conditions.

Within the Fed, the consensus of the members of the Monetary Policy Committee seems to have shifted in favor of a change in the balance sheet structure, the total reached 2800 billion, to lengthen their maturity.

The objective of this initiative is to influence long rates to lower the cost of housing finance for households and investment for businesses.

Further reducing long-term rates, the Fed could also encourage investors to look to assets with better returns theory, such as stocks or corporate bonds.

Representatives from the Fed could consider more radical alternatives such as targeting a level of employment, growth or price beyond the current target inflation while the booking if the economy were to deteriorate significantly.

Representatives of the Fed, however, divided on the need for further action.Any further easing, even the simple extension of the maturity of the balance sheet, should be rejected by three members of the Monetary Policy Committee as was the case Aug. 9, when the Fed had decided to extend until at least mid- 2013 the period during which it would keep interest rates at a very low level.

If Ben Bernanke will be keen to get the widest possible consensus on any new initiative, economists do not expect that dissenting voices are a barrier to action.

Italy must complete structural reforms and implement the commitment made last month to reduce the deficit and make the economy more flexible, wants the President of the European Central Bank Jean-Claude Trichet.

In an interview published Friday by the financial daily Il Sole 24 Ore, the chairman of the ECB considers that the measures announced in Rome on August 5 is "extremely important".

Council President Silvio Berlusconi had promised then to bring the Italian budget balance for 2013.

"It is therefore essential that the stated objectives for the improvement of public finances are fully confirmed and implemented," said Jean-Claude Trichet.

The latter made no direct comment on the economic plan of 45.5 billion currently being debated in the Italian Parliament, merely to emphasize the importance of Rome to implement measures enhancing the entire national capacity in the medium and long term.

He however reiterated his call to the governments of the euro area to address the weaknesses of their economies and strengthen mutual surveillance and governance.

"The European states must correct the current situation," he said.

Asked about the prospects for creation of Euro-bonds common to all countries of the monetary union, he said that the European Financial Stability Fund (EFSF) already issued securities backed by the European authorities.

"The key message of the Board of Governors is a call for rapid implementation, full of decisions taken by Heads of State and Government of Europe July 21," said the president of the ECB.

Wall Street is divided sharply lower Wednesday after strong rebound yesterday, showing investors still worried about the state of the economy after the declarations of the Federal Reserve.

A few minutes after the opening, the Dow Jones yielded 2.79% (311.48 points) to 10,929.88 points, the S & P 500 fell by 2.73% (31.97 points) to 1140.56 , while the Nasdaq composite fell by 2.82% (70 points) to 2412.98 points.

Persistent fears about the economy and the deficit portend as the eve of a highly volatile trade.

"At this stage, investors dizzy," says Oliver Pursche, president of Gary Goldberg Financial Services. "We look forward to another highly volatile.

Alcoa, often presented as a barometer of the U.S. economy, reported Monday a sharp rise in earnings in the second quarter, mainly due to higher aluminum prices.

Net income stood at $ 332 million, $ 0.28 per share, against 136 million, $ 0.13 per share, a year earlier.

Profit from continuing operations, excluding special items, was for its $ 0.32 registered.

As for sales, it jumped from 27% to 6.66 billion dollars.

The Reuters gave an EPS to $ 0.32 and a turnover to 6.31 billion.

From April to June, a tonne of aluminum has traded between 2500 and 2600 against $ 1977 dollars on average in the second quarter of 2010.

The title gained 1% to 16.07 dollars after closing. The action ended Monday's session down 2.86% to 15.91 dollars