Despite unemployment at 9.6% of the workforce, the President of the United States seeks to give new impetus to the Democratic majority in the context of the midterm election, Nov. 2.

On the occasion of his weekly radio address, he drew particular attention to the stimulus of 814 billion implemented by his administration, which, according to him, put an end to the crisis that he inherited when came to the White House in January 2009.

"The steps we have taken so far have stopped the bleeding.But strengthen our economy demands more than that, he said, referring to aid the middle class and reform of health insurance, which guarantees coverage to those who did not.

TIME OF SELECTION

The president will attend Monday in Milwaukee for a rally Labour Day, before Cleveland won for a speech on boosting employment.Press conference is also scheduled Friday at the white house.

He could be talking about new tax cuts for the middle class, investing in clean energy and infrastructure projects or tax incentives to encourage businesses to hire.

The President should, however not to discuss new stimulus plan, fearing to stir up fears of opinion regarding a record deficit.

Tim Kaine, leader of the Democratic Party, will also kick off the season Wednesday at Philadelphia.

He would try to "explain the choice before the Americans: a choice between Democrats who are advancing American and Republicans eager to reconnect with past policies that have brought our economy to the brink of the abyss" may 'reads a statement from the training.

"This administration says that its policy will keep unemployment below 8%, reduce the deficit and boost the economy. Instead, unemployment approached 10%, debt explodes and we lost hundreds of thousands of jobs this summer, "countered Sen. Mitch McConnell.

The suit focused on the accident that killed Brian Cole in 2001, when the young man was coveted by professional baseball team New York Mets, which has increased the amount of damages was Tab Turner said the advocate.

After the verdict, Ford and the family have found an amicable arrangement, the lawyer said, without specifying the amount.Ford Motor is also denied.

Marcey Evans, a spokesman for Boeing, said Brian Cole was driving over 130 km / h when it left the road and not wearing his seatbelt payday loans no faxing.

She said that Ford would have won the trial if the judge did not knowingly excluded certain items.

"It was a tragic accident and our condolences go to the Cole family for this loss, but it is unfair to blame the part of us," she said.

In 2001, Ford had ended a partnership of nearly a century with the Firestone tire manufacturers after imputing a series of incidents involving its Explorer 4×4 model, one that drove Brian Cole.

Many procedures have been instituted against the company after fatal accident with this vehicle.

A few minutes after the start of trading, the Dow Jones gained 0.04% to 10,273.86 points, the Standard & Poor's 500 index 0.14% to 1081.76 points and the Nasdaq Composite 2177.88 0.05% points.

The Labor Department announced that the number of registered unemployed had fallen to 472,000 in the week to Aug. 28, against 478 000 (revised figure of 473,000 previously announced) the previous week.Economists had expected jobless claims averaged 475,000.

But alongside this, the estimate of non-farm productivity in the second quarter was revised sharply downward. The latter has so contracted at an annual rate of 1.8%, instead of a contraction of 0.9% initially announced.

As for values, Burger King jumped 24% after confirming its acquisition by the investment firm 3G Capital at a price of $ 24 a share in a transaction valued four billion dollars (3.12 billion euros).

Avis Budget has announced that it had raised its share from 3.8% cash portion of its offer for rival Dollar Thrifty Automotive Group.The title of the Pretender took 0.2%, while that of its target earning 0.63%.

AOL and Google respectively gained 2.23% and 0.23% after the five-year renewal of their agreement in the research on the internet.

The business daily quoted a report on the subject conducted by the Interministerial Mission for Social Housing inspection (Miilos).

"This is the case of 34 social landlords in 2008 and 27 in 2009, a whopping 15% and 22.5% of the 151 public housing agencies and controlled," writes the Tribune quick cash."The amount of this debt may reach 7 to 8 billion euros."

For 15 organizations controlled by the Miilos in 2009, the exposure is less than 5% of their total debt.

But 12 other companies, exposure to risky financial products reached 10%, 20% or 50% of their debt.

The Dow Jones has sold 1.39% or 140.92 points at 10,009.73 points, the Standard & Poor's 500 index 1.47% or 15.67 points to 1048.92 points and the Nasdaq Composite 1.56 % or 33.66 points to 2119.97 points.

The announcement by Barack Obama of making the study of new stimulus measures including tax breaks, failed to reassure investors who stand on guard before the employment figures for the month of August Expected Friday.Investors were apparently disappointed at the lack of detail on the proposed measures.

The stock, which was down at the time of listing, has increased its decline after the release of White House statement.

Banks were particularly affected by the distrust of investors. Bank of America has come a decline of 2.53% and 2.4% Citigroup.

The 3M group sold 1.67% to 79.65 dollars after announcing a friendly takeover bid of more than 900 million dollars (708 million euros), the specialist Cogent biometric identification.The title ended on Cogent jumped 24.4% to 11.09 dollars, a level higher than the price of $ 10.50 offered by 3M, which means that the market does not offer one-cons.

In this context, the market ignored the announcement by the Commerce Department a 0.4% increase in consumer spending of U.S. households in July. This is the strongest gain in four months.

As for increases, Genzyme won 3.4% to 69.91 dollars.The biotechnology company rejected a proposal to purchase $ 18.5 billion (14.5 billion euros) from Sanofi-Aventis, feeling undervalued.

Hewlett-Packard gained 1.47% to 38.56 dollars, having announced that its board had authorized for ten billion dollars in additional share repurchases.

The gross domestic product (GDP) in Britain rose 1.2% in the second quarter thanks to stronger than expected performance in the construction sector, whereas it was estimated up 1.1% first estimate.

This GDP growth is much higher than in the first quarter of 2010, when it exited at +0.3%.

Yoy, Britain's domestic production rose 1.7% instead of rising 1.6% announced in the first estimate.

The revised figures from the NSO, published recently, showed that the construction sector could add 0.1 percentage points to GDP.

FREE MARKET REACTION

"We already knew that the figures in the construction sector had been revised so it's not a big surprise. There is a stronger than expected growth in consumption, but business investment has weakened further. I think table will be different in two years.The important point is that we should not expect that such a growth rate continues, "said Richard Barwell, of RBS.

The foreign exchange market and the bond market had little reaction to the publication of these figures, investor attention is focused more on the U.S. GDP numbers expected at 1230 GMT and the speech of Fed Chairman at 14:00 GMT.

Household spending rose 0.7% on quarter and by 1.0% over the year, their largest increase since the first quarter of 2008, after declining 0.1% in the first quarter of 2010.

For the moment, nothing allows us to anticipate a slowdown in the third quarter as retail sales are booming and that industrial orders show a rebound.The services PMI was recorded in July but this month the slowest growth in 13 months.

The second quarter growth was also driven by an increase in business inventories for the first time since the third quarter of 2008.

However, growth in the services sector was revised downward to 0.7%, against an initial estimate of 0.9%, due to disruptions that have affected the aviation sector in April and May

Public expenditures have also fallen sharply in the second quarter to 0.3% against 1.5% in the first three months of the year.

The decrease of the registered unemployed announced earlier in the day was not enough, far away, to reassure investors about the outlook for the U.S. economy.

The caution and even distrust, and have prevailed on the eve of the annual meeting of major world central bankers in Jackson Hole, Wyoming, which will provide an opportunity for Ben Bernanke, the Fed chairman, to the point on a global situation which has clearly darkened in recent weeks on the U.S. side, while the euro area with good surprises in store for the markets.

The Dow Jones lost 74.25 points, or 0.74% to 9985.81 points and the Standard & Poor's 500 declined 8.11 points (-0.77%) to 1047.22 points while Nasdaq Composite showed a decline in closing 22.85 points (-1.07%) to 2118.69 points.

The day had yet begun in the green after the announcement of a larger decline than expected new applications for unemployment benefits last week, to 473,000 against 490,000 expected.

But the average enrollment in four weeks, considered a better indicator of labor market has reached its highest level in nine months, which has fueled the anxiety of many of the investors.

TECHNOLOGY AND ENERGY ASSENTED

"What we see is from 450,000 to 460,000" new registrations per week, "said Marc Pado, U.S. strategist at Cantor Fitzgerald."But we stick to numbers that do not correspond to growth of the economy."

The second estimate of gross domestic product (GDP) of the United States in the second quarter, which will be released Friday at 12:30 GMT, also concerned investors.

Economists and analysts polled by Reuters expect an average growth reduced to 1.4% against 2.4% first estimated a month ago.Their estimates ranged between 0.9% and 2.2%.

With the exception of raw materials, stable, all the major sectoral indices S & P New York finished the day in the red, energy and high technologies posting declines in excess of 1%.

Cisco Systems and IBM posted the largest declines in the Dow Jones, respectively 2.36% and 1.99%.

Some coal producers have been affected by lower natural gas prices, income to a low of 11 months, which could encourage utilities to switch fuels.

Massey Energy has dropped 4.15%.

The main New York indexes now accuse a decline of nearly 7% from their peak of last August 9.And the percentage of investors saying to expect an increase in the stock market over the coming months fell to its lowest level since March 2009, according to the American Association of Individual Investors.

The national statistics institute INE said the review by changing the balance of trade figures, which are now showing a fall of 11.6% -11.5% of exports cons previously announced, and a decline of 17.8% -17.9% Import cons.

The contribution of the trade balance and external demand reached 2.8 percentage points, against 2.7%.

An analyst with M & G Valores felt that this minor revision should not have a significant impact on forecasts of GDP for this year.The government anticipates a contraction of 0.3%.

The final figures for the second quarter GDP, expected Thursday, should show growth of 0.2% in April-June compared to January-March, but some observers believe that Spain could reconnect with the contraction in the second half because of the impact of austerity measures announced in recent months.

HSBC and the Insurer Anglo-South African Old Mutual, Nedbank, which controls, announced Monday in separate statements have incurred these exclusive discussions.

Old Mutual, which is undergoing reorganization and strategic aims to reduce debt, said that HSBC would acquire up to 70% of Nedbank as part of a transaction where the amount could rise to 49.9 billion rand (5.37 billion euros) on the basis of current market capitalization of Nedbank.

It was not clear immediately that HSBC obtains official approval of South African control.HSBC is already present in South Africa where it offers services including commercial banks.

"THE RIGHT THING TO DO FOR HSBC"

HSBC UK but very historically located in China and listed in Hong Kong, is increasingly threatened by the South African bank Standard Bank, owned 20% by Industrial and Commercial Bank of China, and seeks to position itself as a door entry into Africa.

For HSBC, Standard Chartered lagged behind in Africa, Nedbank acquisition would strengthen its presence on a continent rich in natural resources where many Chinese customers seeking to do business.

"It's the right thing to do if it wants HSBC to focus on emerging markets," said Dominic Chan, an analyst at BNP Paribas.

"Trade between Africa and China has grown very rapidly, and HSBC is not the same presence (in Africa) and Standard Chartered, which makes this acquisition particularly crucial (the bank) wants to continue his development. "

Errol Kruger, the head of the authority of South African banking sector regulator, has told Reuters on Monday it was too early to comment on this transaction.

"They still have to submit all applications they need to achieve (the project) and we need to think about," he said in a telephone interview.

In exchange, following the announcement, shares Nedbank and Old Mutual jumped by 6.7% and 4.3% at midday, however, that HSBC took 0.82%.

OLD MUTUAL DISCUSSED WITH OTHER A PRETENDER

The CEO of Old Mutual, Julian Roberts, told Reuters his group wanted to get rid of its entire stake in Nedbank, which is 52%, but the exact amount that he would give would depend on minority shareholders.

Nedbank should remain listed in South Africa and Julian Roberts said he would not have entered into exclusive negotiations without the hope that the authorities give the green light.

"If we stay with a small stake, it will be very well and we will manage it later," he said.

The press had previously reported that Standard Chartered could make a bid for Nedbank.

Julian Roberts said that his group had discussed with other parties, but declined to give any details.

He also refused to give information on the potential value of the transaction.

Standard Chartered declined to make comment. A source close to the bank however said it was interested in Nedbank but was worried about having to pay too much.

The action Nedbank is currently trading around 1.3 times book value expected for a year, against a multiple of 1.6 and 1.3 Standard Bank to HSBC, according to data compiled by Thomson Reuters Starmine.

According to Dominic Chan, the operation would continue until a reasonable ratio between 1.8 and 1.9.

HSBC was advised by Lazard Whereas Old Mutual under the guidance of Lexicon, Rothschild and Merrill Lynch Bank of America. Credit Suisse advises Nedbank for its part.

6:06 p.m.: Kerviel was called to the bar."Who are you then, Mr. Kerviel, questioned the president? "My goal was to earn money in the bank" tirelessly answered the trader. It is still "sorry" for having suffered some people, like shareholders. But without the backing of his superiors Kerviel could have done nothing. Okay, but why Societe Generale would she let you do, the response president? Kerviel answers beside the point: "I do not know what degree of knowledge of my superiors." She adds, "I have not been able to circumvent all the controls. Conclusion of the presiding judge: "It is difficult to get you out of your way to change your point of view."

6:04 p.m.: Last question of the defense Button: IEC you know, the bad bank Société Générale? Evasive answer. "The issue is not really there." "I'm sad Master Metzner," concluded Daniel Bouton.With these words, the hearing is completed. Bouton leaves the room.

5:45 p.m. button explains to judges the arbitration function. "Banks are not what Jerome Kerviel tried to do," he pleads. Metzner did not give up its prey so easily. How come no one has responded to various warnings about Kerviel operations? For Button, it is obvious that should have been "fuck Kerviel at the door when the first warnings were issued." Mr. Dumas is accused of blowing the answers to Button. The discussion gets heated. Mr. Metzner has indeed evoke the suicide of another trader in the summer of 2007. For the lawyer the two cases are inextricably linked. Button indignant.

5:35 p.m.: Olivier Metzner continues on his questions.Including the most important: how Societe Generale could she not see the amount of these commitments "stupid"? For Button, one must distinguish between what was seen – and for now no one has proved that Kerviel's superiors were aware of what-should be seen ..

5:12 p.m.: For 20 minutes it is the shareholders' lawyers who have succeeded at the helm. They ask how Societe Generale could compensate its shareholders. Button, "unfortunately," says he can not do anything because it "is not responsible for any" innuendo, certainly not that. As his doctors told him when he was very ill, "you are not responsible for the crisis of Lehman, the banking crisis in the U.S. and now the Greek crisis".It can "reassurance", especially today, the General Socciété will remind, Button, who is not to much.

5:04 p.m.: Kerviel did not meet the wishes of Button. Prosecutors asked him if two and half years after the fraud he is determined to make excuses. He does not refuse them openly, but does not give up. "Of course I recognize mistakes, encouraged by my superiors" Kerviel replied. "50 billion euros you did not lose your cool, slice the prosecutor.

16h50: Button gets to tell his nights. In a strange dream Kerviel admits that he lied, and admitted that no member of the hierarchy has not pushed to defraud. And in this dream, Kerviel explained why he did it. He explained to the tens of thousands of employees of Societe Generale, who also are entitled to answers …A question remains: is it that there is a case where Kerviel's positions had been winning? For Button, of course not. The bank relies on the confidence that gave him his staff. The former CEO is trying a bit of humor. With 1.4 billion won, "the bank might be able to save the souls of young débousselés of trading rooms. Button Kerviel admits to still the tip of talent, and even a "capacity to conceal quite exceptional". With sympathy and physical, it was impossible to be suspicious, finds the former boss of the SG.