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.

However, U.S. consumers flocked to the doors of department stores, which opened earlier this Black Friday, traditionally the day that launches shopping season in the United States.

The markets were closed yesterday for Thanksgiving. The "Black Friday" is traditionally one of the least active day on Wall Street.

The S & P distribution, up much of the session ends with a loss of 0.84%.Wal-Mart has taken all the same 0.44% to 56.89 dollars.

The Dow Jones lost 25.77 points (0.23%) to 11,231.78 points. The S & P-500 loose 3.12 points (0.27%) to 1158.67 points. The Nasdaq Composite yield 18.57 points (0.75%) to 2441.51 points.

On the whole week, the Dow lost 4.8%, the S & P 4.7% and the Nasdaq 5.1%. This is the largest weekly loss in the S & P in two months.

"It's hard to say we had a session today, since there was virtually no one," said Kevin Kruzenski (KeyBanc Capital Markets).

"The market is oversold and some based on the hope the holiday season, but the general sentiment remains weak.

In interviews granted to the German newspaper Bild am Sonntag, and French Le Monde, one that will yield the first Tuesday in November to place Mario Draghi said, however, confident in the ability of governments in the euro area to restore financial stability.

According to him, this requires that the Stability Pact is comprehensive and is implemented in a manner vigorous.

The agreement reached in Brussels this week by the leaders of the European Union should enter in his facts very accurately and quickly.Now the hard work waiting for governments and the European Commission, "he insists.

"A rapid and full implementation of decisions is now absolutely crucial," said he.

This could derail the hostile bid launched by Cameco Corp. of Hathor.

The Board of Hathor has recommended that shareholders accept the offer of Rio Tinto, which amounts to 4.15 Canadian dollars per share. Cameco is only that of 3.75 Canadian dollars per share.

The aim of the maneuver is the exploration project "Roughrider", located in the Athabasca region of the Canadian province of Saskatchewan.

The listing title Hathor was suspended Wednesday morning at the Toronto Stock Exchange.The title Cameco, the first Canadian producer of uranium, was down 3.21% to 20.80 Canadian dollars to 3:20 p.m. GMT, while the action listed Rio Tinto in London declined by 1.09% within minutes of the fence.

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.

At 9:15, the CAC 40 was down 2.92% at 2894.91 points, starting the last quarter backwards, after falling 25% in the third quarter, its largest quarterly decline since 2002.

Other major European markets, London lost 2.53%, 3.5% and Frankfurt Milan 2.4%. Of the European indices, the EuroStoxx 50 and yields 2.7% Eurofirst 300 lost 2.3%.

The European banking stocks index drops 3.5% and 4.5% the car.

German Chancellor Angela Merkel said Tuesday that it was necessary "to avoid any uncontrolled process in the euro area", referring to a bankruptcy of Greece as it is discussed with emphasis in Germany these days. "We work with all means at our disposal so that it does not happen," said Merkel in a radio interview Inforadio. "The first priority is to avoid a default unchecked, because it would affect not only Greece, and because the risk that affects us all, or at least many other countries, is very high," at she said.

His economy minister, the Liberal Philipp Rösler, was mentioned in a press box Monday the event of a default of Athens, setting fire to European stock markets. "I think we do a great service to Greece so we speculate as little as possible but encourage Greece to meet its commitments," said Merkel indirectly criticized the release of M. Rösler, who is also vice-chancellor.

Speaking on state television, MEP Elmar Brok, from the ranks of his conservative party CDU, said that "if Greece were to fail, we should always support it financially." "And the German economy would fall into crisis, not only foreign trade but also of its financial sector," he said. The Chancellor also ruled out an out of Greece in the euro area."I said very clearly my position is that everything must be done to maintain the euro area politically intact," she repeated.

"From all I hear from Greece, the Greek government is aware of the situation and does what he must do," said the Chancellor, who had already called a few days ago to be patient in respect of Athens. "The fact that the Troika returns suggests that Greece has initiated a number of things needed," she said.

The Expert Group of the European Commission, the European Central Bank (ECB) and International Monetary Fund (IMF) to evaluate the progress of Athens in the implementation of its reform program had unexpectedly left the country September 2. He must return to Athens in the coming days.

"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."