Beyond its organic levers, the former branch of the Accor group prepaid service, which issues such as meal vouchers, announced during a day dedicated to investors and financial analysts that it will carry out targeted acquisitions.

Edenred also wants to accelerate the transition to digital solutions "paving the way for new growth opportunities," we read in a statement.

The action Edenred closed Monday at 18.4 euros, showing a market capitalization of 4.2 billion euros.

Floods in Thailand will also affect exports significantly in the last quarter, disrupting supply chains across Asia, warned the BoJ in its report of November.

"Exports and production should show more or less stable at the moment and then increase moderately, reflecting mainly an acceleration of the recovery of overseas economies," said the central bank, warning however that the economic outlook remained uncertainty.

The "blunder" by Standard and Poor's comes almost timely for the European Commission. Brussels Wednesday will unveil a range of measures to regulate rating agencies, and the announcement erroneous degradation of France by S & P should increase the willingness of European regulatory agencies. Details of the measures to be adopted.

Suspend a rating

The Commission will decide to suspend the rating of a State in case of excessive volatility or if the country is under European aid program. The decision can be explained by the previous in Greece.

Attack to justice agencies

Any investor can now sue an agency and ask for damages when it deems necessary. Brussels wants to create "a European framework of liability in case of serious misconduct or gross negligence." A new measure that should appeal to France after the "true-false" degradation Standard and Poor's.

Impose a turnover in the agencies

Brussels wants to put some competition in the "Big Three", Moody's, Standard and Poor's and Fitch Ratings. The idea of ​​creating a European agency was dropped, now Brussels wants to impose a rotation to the actors who are noted. Clearly, companies and states will be required to change agencies every three years, to encourage competition between agencies. But the idea is not only criticized by the rating agencies but also by some of their clients.

French President Nicolas Sarkozy said on Friday that the countries that continue to harbor tax havens, including a list of 11 expected to be released, would be "ostracized by the international community at the conclusion of the G20 summit in Cannes.

"We do not want to tax havens. The message is very clear, countries that tax havens will remain ostracized by the international community," he told reporters Mr Sarkozy, whose country currently chairs the G20.

According to information from Figaro OECD will publish a new list of tax havens.Switzerland and Liechtenstein can be found on the list and gray, not having done enough to be transparent. Nine other states, including Panama, the Seychelles and Botswana, are in a blacklist.

The two financial centers were committed in 2009 to challenge the secrecy and to meet the criteria of the OECD on tax information, to get out of this list. But they have failed the examination and the international body would have found that the transparency commitments were not met.

Meeting in Brussels, ministers primarily responsible for preparing the ground for the Heads of State and Government in defining an acceptable range of options increased participation of the private sector to the new Greek plan on a "maximization" of fire capability fund to support the euro (EFSF) and the recapitalization of European banks.

"This afternoon, we will discuss the leverage for the rescue fund, but without committing ourselves to details," said the chairman of the Eurogroup Jean-Claude Juncker.

"We will try to present to the Heads of State and Government of a policy statement (…) We will try by next Wednesday to have as much detail as possible," he added.

The heart of negotiations on the EFSF, that Paris would be granted a banking license, allowing it to access funding from the European Central Bank to increase its capacity for action by a factor of up to five.

But Berlin refuses, however, this possibility would be to accept that the institution of Frankfurt finance the countries of the euro area, one of the dogmas explicitly excluded by the European treaties.

The other members of the euro area are also divided, Belgium and Spain having voted for a reconciliation BCE-EFSF while Slovakia and Austria have indicated that this solution was not studied.

INTERNATIONAL PRESSURE

According to several sources, Paris and Berlin are unable either to agree on the amount of the participation of banks in new bailout of Greece.

The German authorities, in particular Finance Minister Wolfgang Schäuble, insist that the envelope of 50 billion euros negotiated on July 21 is significantly revised upwards, if necessary by forcing banks to make an extra effort.

According to government sources German, Greek debt should be reduced to around 120% of its gross domestic product (GDP) against 162% today.

But again, the members of the euro area are widely divided on the different options on the table, the level of the discount to be applied to Greek bonds as well as voluntary and non-bank participation.

The count-down is initiated, however, for not only the peaks of Sunday and Wednesday but above the summit of Heads of State and Government of the G20 in Cannes in early November.

Present in Brussels, the executive director of the International Monetary Fund, Christine Lagarde, said the institution would seek to assist the Europeans to resolve the crisis.

"The IMF will do all it can to help Europe, particularly in the Eurogroup, to find solutions," she said.

Thursday night, U.S. President Barack Obama held talks on the economic situation in Europe with his French counterpart Nicolas Sarkozy, German Chancellor Angela Merkel and British Prime Minister David Cameron.

"It is fundamental that there is a policy coordination between countries to weather the current international situation," said Brazilian President Rousseff after meeting officials of the European Council and Commission in Brussels.

"The absence of effective regulation of the financial system is causing the problem," she said.

The economy dominated an annual summit that normally relations in trade and investment.The inability of the EU to find an effective parry to his debt problems upset Brasilia, Washington and Beijing, while market confidence is affected by fears of a global recession.

The leaders of both parties were critical financial regulation more effective in preventing future crises and to prevent national economic problems will spread to other countries or regions.

"We need to overhaul the global financial architecture in order to avoid financial crises in the future," said Herman Van Rompuy later, European Council President, representatives of business circles in Europe and Brazil.

GROWTH, advocates Rousseff

The EU leaders, who will meet this month before the G20 summit scheduled for November in Cannes (France), will have a more united front against economic hardship, said Van Rompuy.

"A strong and coordinated action is necessary to prevent the global economy falls into recession. The EU and Brazil will cooperate closely to prevent this from happening at the G20 summit in Cannes, he added.We must cooperate more on trade and exchange rates. "

Dilma Rousseff, whose country has itself gone through a debt crisis in the 1980s before re-emerge as a major economic power, said that "holders of tax adjustments recession" made when Brazil had problems of debt, had aggravated his stagnation.

"We can end the crisis by stimulating economic growth," she said on the occasion of his first visit to the EU as president.

The EU is the largest trading partner of Brazil, and European investments in this country represent more than all of those of the Union in China, India and Russia.

Brazil wants greater involvement of the EU's leading industries such as telecommunications, oil extraction and refining. For its part, the EU hopes to benefit from a Brazilian economy that recorded last year a growth rate of 7.5%, its fastest in 24 years.

However, discussions on a free trade agreement between the EU and the South American bloc Mercosur, dominated by Brazil and Argentina, are deadlocked.

On the Nymex, the November contract on U.S. crude (WTI) ended on a loss of 3.24 dollars, or 3.84% to 81.21 dollars a barrel.Meanwhile, Brent yielded 3.00%, or 3.21 dollars to 103.93 dollars.

Tuesday, oil was increased after five sessions of decline due to hopes of resolving the debt crisis, hopes were dashed on Wednesday.

"The macroeconomic events, especially from Europe and the debt crisis, will likely continue to be the catalyst to oil prices in the foreseeable future," said Chris Jarvis, senior analyst at Caprock Risk Management.

U.S. inventories of crude oil rose more than expected last week, said Wednesday the U.S. Agency for Energy Information (EIA).

Crude oil inventories rose 1.92 million barrels to 340.96 million, while economists on average expected a rise of 800,000 barrels

* BANKS – The Fall of banks to the Paris Bourse and doubts about their strength threatens the economy by depressing household and pushing companies to delay their hiring and investment, analysts and professionals.

French banks have agreed to exchange more than 90% of Greek bonds they currently hold in the second aid package to Greece decided in late July, said Friday the Minister of Economy, Baroin., See also scenarios of bank recapitalization in Europe

In addition, the German bank IKB announced Friday it had settled a three-year dispute with Crédit Agricole and the credit enhancer American Financial Guaranty Insurance Company (FGIC) on losses during the financial crisis.

* Sanofi announced Monday morning that the U.S. court had ruled in favor of Sanofi US dispute in the dispute with Sun Pharmaceuticals on some generic versions of Eloxatin (oxaliplatin).Eloxatin retains its exclusivity in the U.S. until August 9, 2012, Sanofi said.

* Technip announced that it has been awarded by a contract Petobras provision of basic engineering and detailed design for a new complex fertilizers `to be located in Uberaba, in Minas Gerais, Brazil .

* EADS – Qatar is interested in buying Daimler a 7.5% stake in EADS, writes Der Spiegel on Sunday.

* ABC ARBITRAGE improved its net profit in the first half despite the low volumes and limited volatility of the markets during the period and addresses the second part of the year with confidence and caution, told Reuters CEO, Dominique Ceolin.

The consumer prices in France rose 0.5% in August on a month, after falling 0.4% in July, and were appreciated by 2.2% year on year, said Tuesday the Institute National Statistics (INSEE). The increase in August mainly due to the end of summer sales but also reflects the higher cost of services related to tourism, these increases are offset by a decline, also seasonal, fresh produce prices and prices of services health, INSEE said. The energy prices have also increased, both for the electricity, slightly, for petroleum products.

Excluding tobacco index is up 0.5% in August 2011 (+2.2% yoy).Prices of manufactured goods rose 1.6%, with 9.8% for clothing and shoes. Price increases also linked to the end balances were also found on furniture and furnishings (+3.3%) and leather goods and travel goods (+4.1%).

Conversely, promotions are behind the falling prices of new cars (-1.7%). The food prices fell slightly (-0.2%), decreased primarily due to lower seasonal prices of fresh products (-3.6%). Excluding fresh food, the food prices rose 0.4%, after rising 0.5% in July.

Rising energy prices

Seasonally as well, prices of services were up in August (0.1%).Price increases continued on holiday accommodation (12.0%) and package holidays (+4.4%), air transport (+1.5%) and restaurants (0, 2%). On the other hand and also how seasonal prices of hotels including pensions fell (-0.8%) as those of doctors (-0.4%) and dentists (-2.0%). Tariff reductions were recorded in the telecommunication services (-0.2%) and on health insurance (-5.2%).

The energy prices have instead increased (0.4%) after a stable in July. In one year, they increased by 11.9%. In August, electricity prices rose by 1.4% and prices of oil products edged up 0.1% (+15.5% yoy).

The latter, designed to hide 37 billion euros to its debt stock requires approval by 90% of private sector investors, said Athens to other cities in an official letter.

Greece had previously made this level a goal and not a condition.This threshold applies to the bondholders holding the paper maturing in 2014 and 2020.

"If these thresholds (or either) are not met, Greece will go no further on any part of the transaction whatsoever," the Greek government.

Greece, however, has left some leeway, saying it would withdraw from the case if the proportion of participants did not meet investors its international partners such as the European Union and the International Monetary Fund (IMF).

This would occur if "she realized, in consultation with public authorities, that the total contribution of private sector creditors (…) was insufficient to allow public authorities to support the new multi-year adjustment program."

"It's a tactical maneuver. She wants to put pressure on private investors to participate," said an executive of a Greek bank.He said the threshold of 90% is ambitious and believes that the transaction will in any case, even if not achieved.

The Greek banking sector plunged 7.24% to 1300 GMT in Athens Stock Exchange.

"Not bad DELAY"

The Institute of International Finance (IIF), which coordinates the bank discussions, said Thursday that 60% to 70% of bondholders had expressed their intention to participate in the plan.

They may be more numerous, he said, once a proposal has made formal.

The European Commission said in turn suggests that private investors are involved enough to sustain the bailout program.

A Parisian banker noted, however, the collateral argument made by Greece to Finland in exchange for loans may complicate the matter.

Helsinki does not give this guarantee and its finance minister said Friday Jutta Urpilainen that the country would be irresponsible if they waive this requirement.

"I feel that there has been a lot of delay in the finalization of the methodology and the implementation of this plan," said the banker."There are big problems also contributors to the final device, given what is happening in Finland, Austria and other countries, and its ratification.

Greece wants to join the plan investors hold around 135 billion euros of debt on the 150 billion that will mature by 2020.

He was asked investors to indicate their interest, non-binding to participate in the exchange of obligations by September 9, said bankers.After that, a formal proposal will be formulated and binding, probably in early October, they added.

The idea of ​​involving the private sector in a second bailout of Greece comes from a political anxious to save the taxpayer a part of this new financial burden. This idea would mean a loss of 21% for bondholders.