70 billion euros, the amount of foreign trade deficit for the French government plans to announce Tuesday. An absolute record much higher than the previous record set in 2008.

Secretary of State for Foreign Trade, Pierre Lellouche had, in mid-January, revised down from the estimated 5 billion annual deficit, previously estimated at 75 billion. "It's huge, it's still too much, of course," he had complained at the time. "We pay several years for the erosion of our industrial base, the real issue is to reboost the French offer," Pierre Lellouche was analyzed.  

The cumulative deficit of 12 months completed end of November totaled 70.450 billion euros, very marked deterioration compared to the year 2010 (51.455 billion), according to latest figures released by Customs. The projected number of 2011 is also a significant increase on the previous record of 2008: 56.2 billion. The balance of trade in goods between France and the world was again negative starting in 2003. But, in addition to structural reasons regularly cited by the Minister and industry-related and lack of medium-sized companies, competitiveness in cost, capacity to innovate enough, economists emphasize the role of energy bill.

It helped itself to some 60 billion deficit last year, said Christophe Blot, of the French Observatory of Economic Conditions (OFCE). "It is clear that energy has had a very negative impact", with a 39% increase in annual average oil prices, said Alberto Balboni for his part, the analyst firm Xerfi. Note also the slowdown in trading partner of France, he notes. However, after excluding these two factors of energy and economic crisis, there is on "long-term non-energy deficit that is growing since the early 2000s," he says.

Small increase in French exports

There is a "structural trend of the industry side to record deficits, which is associated with deindustrialization," added Balboni. The year 2011 is a case, all sectors of industry have led to a widening deficit, "says he. Areas already in deficit, including automotive and textile industries, have increased their negative balance and others "who are a little florets of French foreign trade as the aerospace industry but also the pharmaceutical industry saw their surpluses shrink ".

Hence the debate of the current presidential campaign in France on the lack of medium-sized companies (250 to 5000 employees) capable of launching export, innovation and competitiveness, both in its component price and non-price component, say the economists. Elements of "hard to quantify" but based primarily "on the question of whether there are resources that could find through the trade to improve our performance in terms of growth," explains Christophe Blot.

It is observed that French exports in 2011 grew less than those of Germany, but also that exports from Italy, Spain, UK and U.S.. The global market share captured by France and has deteriorated significantly since 1990 from 6.2% to 3.6%. For 2012, it is possible to expect an improvement on the side of oil prices that are on the downside, the average Brent price from 123 dollars a barrel in April to 108 in December. But the trend depreciation of the euro could partly neutralize this effect.

The Labor Department reported Friday, 243,000 non-farm jobs created in January, the highest figure since April, and the unemployment rate down to 8 , 3%, its lowest level since February 2009.

Since August, the unemployment rate fell 0.8 percentage point.

Economists polled by Reuters on average expected 150,000 new jobs and an unemployment rate of 8.5%, as in December. 

The number of jobs created in December was revised up slightly to 203,000 against 200,000 announced last month, and November was revised in 157,000 net increase to 100,000 against.

The private sector has provided in January all new jobs with 257,000 positions created, a highest level since April, while the public sector by removing 14,000.

Moreover, the average hourly wage increased by four hundred, which should help to support consumption.

According to the report of the Department of Labor, the expected slowdown in U.S. economic growth in the first quarter has not yet had an effect on hiring decisions of firms. 

"It's a good surprise, and the first digit of the job that is really good since the recession," said Philippe Weber, studies and strategies in CPR AM.

These figures significantly better than expected gave a boost to equity markets in Europe and the dollar.

The Dow Jones opened up 0.55%, the S & P500 by 0.66% and the Nasdaq 1%.

"This is certainly a great support for the U.S. recovery and this suggests that the rebound is growing," said Brian Dolan, chief strategist at FOREX.com markets .. ……

WHAT IMPACT ON DECISIONS OF THE FED?

The Federal Reserve announced last week the probable continuation rates to near zero until at least late 2014, on behalf of a particular unemployment rate ; high unemployment. 

The Fed Chairman Ben Bernanke told to consider new measures to support the economy, but, faced with this recovery in the labor market, the leaders of The Fed may well turn back.

The U.S. central bank has already bought 2,300 billion in bonds to keep rates low and stimulate the economy.

The United States experienced a rapid growth year on year over the last three months of 2011 to 2.8%, against 1.8% last quarter. However, the recovery of stocks of companies accounted for two thirds of this increase, which should result in slower growth in the first quarter of 2012.

The fiscal crisis raging in Europe, where several states are already in recession, is expected to affect U.S. exports and thus hamper growth.

However, there are still some signs of strength in the U.S. economy, as auto sales strong in January, a manufacturing activity, which reached a high of seven months or even declining four weeks moving average of jobless claims.

However, there are still 19.3 million Americans unemployed or underemployed.

Remain reasons to be cautious. The unemployment rate did drop for the fifth consecutive month, but partly because of the abandonment of job searches by some Americans, tired of not finding work.

An index, which includes people who have stopped job searches and those working part time but would like to work more, stood at 15.1% in January against 15.2% in de ; December.

The commands in French industry, including export, fell sharply in September after several months of growth, even if they were up all over the third quarter, INSEE said on Friday. The industrial new orders (excluding transport equipment but including automotive) were down 3.1% from the previous month after rising 0.8% in August.

Those from abroad also recede, 2.7%, says the National Institute of Statistics and Economic Studies in a statement. The decrease is very strong in the automotive (-6.9%), pharmaceuticals (-8.3%), chemicals (-2.7%), paper and cardboard (-6.2%) and textile (-3.2%). Electrical equipment, electronic and computer were down 1.6%.

"In the second half, the impact on the luxury industry of the economic challenges the world faces and the high comparison base to which the measure group sales we suggest caution," said Johann Rupert, the chairman CEO of world number two luxury.

"Given the performance achieved to date, and despite these challenges, the operating profit of the year should be significantly higher than that of 2010-2011," he added.

Even as Richemont is known for prudent forecasting, these words echo the comments of all other major luxury groups, which have recently published quarterly defying the economic crisis.

Last week, the leather Hermes said he was hampered in its growth by its production capacity which does not allow it to meet demand, given the popularity of its handbags and famous silk scarves.

Mid-October, LVMH had also published quarterly strong despite the vagaries of the economy.

The top of the eurozone, which ended in the night between Wednesday and Thursday led to a series of measures to resolve the crisis, including the deletion of 50% of the Greek debt to private creditors and the strengthening of the Fund stability in the euro area.Here are the details of decisions taken by all European leaders.

The discount of the Greek debt to 50%

Banks and private equity funds that hold Greek debt have agreed to voluntarily relinquish 50% of their claims on the national debt by 2020: specifically, from January 2012, they will exchange their debt obligations Greek against others whose value will be halved. This represents a deletion of 100 billion euros of Greek debt, currently at 350 billion euros. Fund stability in the euro area (EFSF) will bring to these private creditors 30 billion euros in guarantees on these new claims.Among the measures to strengthen fiscal discipline common EU monetary figure "the adoption by each Member State of rules on passing a balanced budget the Stability and Growth in the legislation, preferably at the constitutional level or equivalent end of 2012, "the statement said.

Highs in the euro area twice a year

Highs in the euro area will be held twice a year. They will be chaired, at least initially, by the President of the EU, the Belgian Herman Van Rompuy. A change in the EU treaty is considered.

The European aircraft manufacturer, a subsidiary of Airbus, said the amount of its gross orders had reached 1,179 aircraft and reported delivered 374 aircraft in the first nine months of the year.

By comparison, Boeing had recorded at September 27, net orders of 425 aircraft, a delay that the American manufacturer hopes to meet with his future MAX 737.

Airbus was far behind its major competitor at the Paris Air Show that was held in June in order.

Zoellick warned in an interview with Reuters that a new crisis is looming, while the budgets of many developing countries have still not fully recovered from the financial turmoil in late 2008.

He said the budgetary situation of more than half of developing countries deteriorated by about 2 percentage points of GDP since 2007, and over 40% of developing countries now have deficits exceeding 4% of GDP.

"If the situation continues to deteriorate, growth in developing countries may bend, the value of their assets could decline, and then their non-performing loans could rise," said Robert Zoellick.

"With these pressures and opportunities, we should expect to protectionist pressures (…), and a downside risk to the population," he added.

He said to continue to think that the economies of industrialized countries could avoid a double dip, but concerns are growing up in the event that these countries would not attack the problems head on.

"A crisis born in the developed countries could be exported to developing countries," he continues."Europe, Japan and the United States must act to address their major economic problems before they become larger problems for the rest of the world".

"Failure to do so would be irresponsible," he summarizes.

The crisis of sovereign debt continues to weigh on European shares and heckle banking stocks, particularly the French – the most exposed to Italy and Greece, two countries that capture these days the attention of market.

The CAC 40 index lost 1.62% to 2935.82 points, after rising 1.5% Tuesday in closing.

London has yielded 1.4%, 2.47% Frankfurt, Milan 1.65%.The index Pan-European Euro Stoxx 50 lost 1.96%.

European banks, including the French, have been buffeted in the red and the green at the mercy of rumors, including whether or not to recapitalize, and news about the crisis in the area.

The Stoxx European banks index ended down 1.6%.

In Paris, BNP Paribas has finally dropped 1.85% after gaining over 2% in the afternoon.Societe Generale, having also made the yoyo, ended in the red (-1.28%) as well as Credit Agricole (-2.38%).

Many professionals emphasize the link of "inbreeding" among European banks and the debt of the euro area and say that as governments will not put out a general settlement plan, financial stocks continue to suffer.

"So things are moving in all directions according to rumors," said a vendor noting the "fragility" of the market.

In this context of flight to quality, Germany awarded for the first time in its history of Bund 10 years at an average rate below 2%.

The performance of the Bund, part of the euro area, the market remained unchanged at 1.77% and that of the French OAT maturing as well, to 2.62%.

The euro gained ground and was trading late in the day around 1.3723 against the dollar around 1.3675 this morning.

In Paris, Alcatel-Lucent (0.85%) was the only value of the CAC 40 to finish in the green while cyclical as PSA (-5.70%) and Vallourec (-4.61%) suffered the largest declines in the index.

"We do not take over me again!" Arnaud Lagardère has responded to the video on Monday where he and his new bride, model Jade Foret, indulge in a languid photo shoot, which is the buzz on the Internet since July. "I can summarize it in one word: ridiculous! Had I imagined it was made for broadcast as well, I never would have accepted," says the head of the Lagardère Group. In a long interview with Les Echos, he answers those who accuse him of not very involved in his business.

"A boss atypical, so what?"

"I live with my band and since my childhood.It's always been my passion. I have personally invested in this company everything I have. Me to be the trial of a person who is too invested in his company who do not spend enough time, which ultimately consider it an asset like any other, this is like the video: ridiculous! "And he to go to affirm the importance of a private life successful." Maybe I'm an atypical pattern, so what? Being happy in his private life is certainly a source of balance for an entrepreneur. "

And as to support his statements and prove his good faith, Arnaud Lagardere and hold back the strategy of his group. In spite of disappointing interim results, he emphatically denied the rumor that the group would sell one of its four branches.He also says do not intend to separate from other assets, after selling its international Hearst magazines.

"Time of markets is not that of the company"

The cash from the sale should be reinvested in the four branches. And it could be used to "reward loyal shareholders," a share buyback or dividend exceptional. Knowing that the action of the group posted a loss of nearly 38% since the beginning of the year. "Our results were disappointing, I can understand that. But the time for financial markets is not the time of the company. To reconcile them, I know of only one strategy: long-term take its course."

Arnaud Lagardère is also planning to acquire "magazines in France." And an update on the group's strategy on the Internet."In our group there was a historical culture of the paper so ingrained that it was difficult to immediately turn the digital. This is clearly a disappointment. Nevertheless, we have a major advantage that our brands are positioned on high the most buoyant segments. This has enabled us to become the third largest Internet group in France. "

To a withdrawal of EADS

It evokes, finally, the future of its partnership with EADS. Lagardère should withdraw from the defense contractor and aerospace program as soon as the Airbus A350 to its subsidiary will be operational. Meanwhile, it reaffirms its commitment to take, as expected, the Chairman of the Board of Directors of EADS in 2012, which should be attributed to a French."When I say I am a candidate is of course because I want to, but because it has been decided and written in 2007 that I will be the nominee," says he.

And he concluded: "In ten years we will own 100% of our assets and will not be clear neither in aeronautics or in the press distribution abroad."