Françoise Bettencourt-Meyers has requested in writing to become the beneficiary of some life insurance from his mother – to the tune of 93 million – "because of an agreement" with her past, said Sunday AFP to the former agent of the billionaire, Pascal Wilhelm.

FARM CREDIT * (+20.3%), BNP PARIBAS (16.23%) and Societe Generale (14.8%) are leading the CAC 40, with AXA (13.9%).

Out CAC 40, Natixis is 11.6%.

BNP Paribas, Societe Generale and BPCE (People's Bank, Savings Bank) have additional capital needs between 2.1 and 3.4 billion euros, while Credit Agricole is regarded as sufficiently capitalized, reveal tests by the European Banking Authority (EBA).

BNP and SocGen said they could come into compliance with new rules without recourse to the market.

* Dexia wins 6.10%.The title was suspended from trading for the announcement of its capital needs, estimated at 1.7 billion euros.

* AXA also announced a decrease of 4.8% of its turnover for the first nine months of 2011, mainly due to the retirement savings Life business where the insurer has given priority to the margins rather than volumes .

* ARCELORMITTAL also jumped 7.7%, with the entire commodity sector in Europe (+5.9%), and other cyclical sectors that benefit from the feeling that the agreement limits the risk of a sharp recession.Many brokers have reduced their price target, including Goldman Sachs, Morgan Stanley, Exane BNP Paribas, Credit Suisse, UBS, Natixis and Kepler, following the announcement of a new downward revision to its goal of operating income and the elimination of 6,000 jobs.

Moody's also changed the outlook to negative on its debt, while the Baa3 rating is confirmed.

Brazilian Minister of Trade and Industry Fernando Pimentel said Wednesday that PSA would invest 3.7 billion reais (1.5 billion) to Brazil to double production by 2015.

* RRP is 6.2%, boosted by the announcement of a very strong sales growth in the luxury market in the third quarter despite a difficult economic environment.

More than ten hours of meetings were necessary to reach an agreement Saturday on a recapitalization of the banking sector to the tune of 100 billion euros, which was nevertheless widely agreed at the technical level this week.

The work, however, little or no progress on the form that is chosen to leverage the fund to support the euro and to reduce the mountain of Greek debt, even if a discount up to 60% of the shares held by investors Private is under discussion.

On his arrival in Brussels, where he was to dine with Angela Merkel, the ECB President Jean-Claude Trichet, the Executive Director of the International Monetary Fund Christine Lagarde and the President of the Commission and the European Council, José Manuel Barroso and Herman van Rompuy, Nicolas Sarkozy expressed his confidence in the outcome of discussions.

"There is progress (…) By Wednesday, we must find a solution, a structural solution, an ambitious solution, a final solution, there is no choice," he said in reference to the date of the second summit will bring together the leaders of the euro area.

The French president spoke by telephone with German Chancellor Saturday afternoon and, says one EU source, they should meet again Sunday morning at their hotel before joining their European counterparts.

Meetings could also take place with the Italian Prime Minister Silvio Berlusconi and Spanish Prime Minister Jose Luis Zapatero, while Italy and Spain are under peer pressure to reassure their determination to keep public finances under control.

BANKS

At the end of the agreement reached Saturday, about sixty of the largest European banks need to recapitalize by 30 June 2012 at 100 billion euros to hold at least 9% of equity "hard" core tier one .

Some 38% of this amount, which may not be officially published, should return to the three countries already under the aid program: Greece, Portugal and Ireland.

Banks will also mark their sovereign debt to market value and the institutions that will not comply with this set of rules will be banned from paying dividends to their shareholders and bonuses to their executives.

The bloc have also talked Saturday reactivation of the guarantees offered to banks in the fall of 2008 at the height of the crisis, enabling them to find financing in the medium and long term, said on the same source.

GREECE

Ministers also returned to the long record of Greek and how to make Greek debt sustainable in the long term.

According to a report that will serve as the basis for decisions of the leaders of the euro area, private creditors of Greece may have to accept a loss of up to 60% on their sovereign debt.

The EU finance ministers, however, remain divided on the voluntariness or otherwise of the private sector to the new rescue plan for Greece.

Fearing to trigger a credit event with unforeseeable consequences, France and several other countries are reluctant to go beyond the envelope of 50 billion euros negotiated last July 21 with the banks, as called for Berlin if necessary by forcing them to go the extra mile.

Friday night, Athens received a shot in the arm with the provisional go-ahead European payment by mid-November of the next tranche of international assistance by 8 billion euros, without which Greece would default on its sovereign debt in the coming weeks.

The IMF still has to validate itself as this payment, he conditioned ambitious decisions of Heads of State and Government of the euro area to reduce the mountain of Greek debt.

EFSF

The last part of the discussions – the multiplication of the European Financial Stability Fund (EFSF) – has so far been barely touched by the ministers, that would leave it to decide this question and leaders.

Friday night, Minister of Economy, Baroin, confirmed that France continued to believe that change the cash in bank was the best solution but it did not make "one final point of confrontation."

Granted a banking license in EFSF would allow access to funding from the European Central Bank to increase its capacity for action by a factor of up to five.

But Berlin rejects this possibility, which 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 since the creation of the euro.

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.

European leaders are under intense pressure by their international partners to take decisive action against the crisis, less than two weeks of the G20 summit in Cannes, where they planned to hold them accountable.

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

The Spanish deputies approved Friday by an overwhelming majority the inclusion in the Constitution a "golden rule" of fiscal stability, despite the growing social and political discontent in the country. The parliamentarians approved, to 316 votes for and 5 against, the text, which includes the Basic Law the principle of limiting the public deficit, allowing the transmission to the Senate next week as part of a procedure emergency.

Spain will become the first country to respond to the call on August 16 by France and Germany, which wanted the 17 countries of the Eurogroup adopted before the summer of 2012 the "golden rule" to a balanced budget.Berlin includes in its constitution since 2009, while Italy and France also have this project.

For Madrid, the reform, which is accompanied by an organic law (passed by June 2012) includes a numerical limit to 0.4% of GDP, should serve as a vaccine against the financial markets still skeptical about the strength of countries.

The next meeting of the BoJ Monetary be held on September 6 and 7.

The government could also intervene unilaterally in the foreign exchange market to weaken the yen.

He has done 4 August – and the BoJ eased monetary two weeks ago – but the traders continue to seek refuge currency as the yen and Tokyo does not re-offend if fluctuations in the yen are considered speculative.

Friday the dollar hit a record low of 75.95 yen before remonstrate above 76 yen.

"Japan's position is consistent and it will take decisive decisions following the evolution of the market," said a senior official told Reuters.

"The BoJ does not exchange specific but deals with the impact of currency movement, the trigger for a monetary easing would be a serious deterioration in sentiment," said a source also told Reuters.

This relaxation will likely take the form of an increase in the "pool" of 50,000 billion yen (656 billion) charge to buy public assets and private funds to offer cheap fixed rate via market transactions.

This pool was already increased when the BoJ eased monetary policy this month.

Excluding energy and unprocessed food packaged, retail prices fell 0.8% monthly increase of 1.5% annually from 1.8% in June

Overall, retail prices fell by 0.6% monthly in July and increased 2.5% annually, rising fuel prices and electricity now that annual inflation in excess of 2.0% which the maximum tolerated by the European Central Bank.

The rebound by Insee said Friday, after three months of decline, is well above the expectations of economists polled by Reuters, which provided an average of 0.5%.

The May figure has meanwhile been raised to -0.3% against -0.8% previously.

Throughout the second quarter, consumer goods, however, down 1.8%, after rising 0.1% in the first, reinforcing expectations of a sharp slowdown in economic growth of France in the second quarter.

The first estimate of growth in the second quarter will be released August 12.After rising by 0.9% in the first quarter, the French economy to grow just 0.2% in the second, according to the INSEE and the Banque de France.

"Retail sales in France are a ray of sunshine in a generally gloomy landscape," said Dominique Barbet, economist at BNP Paribas.

He stresses, however, the strong quarterly decline and considers the impact of sales on June shows that consumers are willing to wait to benefit from low prices to buy.

For Nicolas Bouzou, the analyst firm Asters, "the increase in June is sham and the quarter is bad."

"The decline (quarterly) is strong and raises the question of regime change in the dynamics of consumption," he says.

QUARTERLY FALL IN ALL SECTORS

The poor quarterly performance in all areas reflects the slow growth of purchasing power, which could "probably" use force in all of 2011, says economist.

Spending on durable goods rose 2.5% in June but fell 6.3% over the second quarter, after rising 2.2% in the first.

Pleasant surprise, the rebound of 2.2% of car purchases in June, which "suggests that the worst is behind us," said Dominique Barbet.

This increase does not compensate, however, the earlier declines related to the end of the scrapping and a total purchase automobiles declined by 11.2% in the second quarter.

Helped by the sales, purchases of equipment housing rose 3.8% in June but were down 0.6% over the quarter

Again, thanks to sales, purchases of textiles and leather rose 4.3% in June but fell 0.3% in the quarter.

Consumer spending in other manufactured goods for their part, rose 0.7% in June and declined 0.2% in the quarter.

Purchases of food products fell 0.4% in June and 0.1% throughout the quarter.

Finally, energy consumption grew by 1.4% in June, after rising by 5.0% in May It fell by 1.1% over the second quarter "because of particularly mild weather in April," said INSEE.

The public holding Chinese Comac (Commercial Aircraft Corporation of China) is preparing a short-medium haul, the largest segment of the global market which already operate the Airbus A320 and Boeing 737.

A model of the front of the camera, without wings but with cockpit and fuselage size, can be visited at the 49th Paris Air Show.This is the first time this Comac abroad.

"It is confirmed, we will have our first flight in 2014 and the first aircraft will be delivered in the second half of 2016," he told reporters Wu Guanghui, vice president in charge of Comac design and engineering.

He was responding to the experts who question the capacity of Beijing to keep its schedule.

Comac, with the loop this year round supplier of the future airline, has signed one after a deal with Safran to create a joint venture in the aircraft wiring and with CFM International, a joint venture between the aerospace equipment French and American General Electric, the final contract for the automation of launch of the C919.

WESTERN MOTOR FOR DEBUT

The new joint venture based in Shanghai, is owned 51% by Comac and 49% by Safran.She will be responsible for the implementation of the future Chinese aircraft wiring.

"After the choice of saffron as a supplier of complete propulsion system of Comac C919, the creation of this joint venture marks a further step in the group's involvement in the success of this new generation aircraft," said Safran in a statement.

The C919 and will debut with a Western engine, CFM LEAP which consumes 15% less than the previous generation, which will also power some of the re-engined Airbus A320neo.

Safran has also signed the same day two memoranda of understanding with China Aviation Industry Aviation Group Corp of China (AVIC), one of the engines for helicopters, the other on the plane, realizing the strategic partnership announced in November last.

Comac does not intend to stick to the short-medium haul market, but eventually plans to offer a complete family by adding C919 versions shorter, longer, and equipment dedicated to freight.

"We have to date signed 100 firm orders for aircraft launch and of course, we will sign other this year," said Jin Zhuanglong, president of the group.He said a memorandum of understanding is likely to be signed soon with the low-cost airline Ryanair.

China is determined to carry out its national airline of "Made in China". On the panels surrounding the booth Comac, we read that the group is "committed to building an independent Chinese airliner large" which will fly soon.

Bourget questioned the willingness of Beijing to compete with Airbus and Boeing, leaders of Comac played the card but of humility.

"First, we must learn from Boeing and Airbus because both companies are leaders in the aerospace sector and we are very young," said Wu Guanghui.

"We are not yet able to compete with Boeing and Airbus.If possible, we want to have a win-win relationship and work together. We seek the opportunity to cooperate, "he added.

Unprecedented in its history, Carrefour has faced in recent weeks a movement of repeated strikes in support of wage demands. Tuesday, he was sentenced to 3.66 million fine for non-compliance with the minimum wage to 1,200 of its employees in France.The group will call on Wednesday said a spokesman.

"The strike movement closely watched as we experienced this year is a big first in a context of transformation and reorganization of the group with wage negotiations which were very hard," said one Paris-based analyst, who asked the anonymity.

The title Carrefour significantly underperformed the CAC 40 since December 2010.He pressed on Wednesday a technical threshold to 29.31 euros, according to the graphical analysis of Day By Day, which sees a new target for the value to 27.72 euros, a level which corresponds to a point rebound in May / June 2009 .

At 3:48 p.m., the share was down 2.55% to 28.825 euros while the CAC 40 fell by 1.36%.

Carrefour's conviction Tuesday by the Police Court of Evry (Essonne) "is not good news, it's not good for the group's image," said Laurence Hofmann, Oddo Securities.

"But I do not think this is the reason for the decline of the title today. In the short term, it is difficult to explain the movements of the title," she admits, the approach of the general meeting of June 21, where the listing of Dia hard discount business of Carrefour, will be voted on by shareholders.

"This may be an accumulation.We are not in a social context very favorable at Carrefour, "said a third analyst, noting that the number two global retailer, behind Wal-Mart is the largest private employer in France.

Carrefour, according to its website, employs 140,000 people in France.

Carrefour has been defended by the voice of its human resources director, told RTL radio. "We will appeal.All employees of Carrefour receives an annual salary that is above the minimum wage, "said Jean-Luc Masset on the radio.

"For example, a worker receives cash compensation that is 22% higher than the minimum wage, plus a profit sharing, a discount on purchase of 10%, and a mutual and a collective agreement is very favorable, "he said. "This type of decision opens an interpretation of the Labour Code which is well beyond the scope of Carrefour and part of the distribution on 'What is the minimum wage, what is the content, what are the fundamentals of minimum wage?" .