The Nasdaq Composite fell 15.38 points his side of (0.59%) to 2572.61

These data are likely to vary even slightly.

After the United States and the European Union, the Arab League threat of economic sanctions against Syria. The organization includes Saoudi Arabia, Iraq and Egypt imposed an ultimatum: if the power does not stop the violence against his people, the organization will hit the country in the PORTFOLIO. But these economic sanctions have their limits. Explanations.

Imposing the sanctions and how?

So far, it is especially the European Union has shown.Moreover, tourism is affected: it reported 6 to 7 billion euros last year and represents 12% of GDP. "The economic machine is running at 40% of its resources today," said Hasni Abidi, director of the Centre for Studies in the Arab world (CERMAM). The possible sanctions of the Arab League at the end of their ultimatum could further exacerbate an already fragile economy. "States of the Arab League import a lot of fruits, vegetables and grains, Syria has a highly developed agriculture. If you stop overnight, these imports, it's a catastrophe for the country," said the researcher. The situation is so delicate that the Minister of Economy has just imposed a drain of $ 10 on the salaries of civil servants to bail out the state.

Operating income for the German automaker will show growth in 2011 "clearly double digit," said a spokesman for the group.

Porsche has reported an operating profit up 25% to 1.51 billion euros over January-September.The spokesman declined to provide comparable figures for 2010, when Porsche had experienced a truncated fiscal year from August to December.

The manufacturer, owned by Porsche SE and Volkswagen reiterated its plans to sell more than 100,000 vehicles this year, after having passed 85,872 from January to September, or 26% more than in 2010.

Sales in China soared 82% over the period, to 17,683 units.

Thursday, Volkswagen reported an operating profit for nine months rose 86% to 8.97 billion euros, with a rate of double-digit growth in sales and a gain related to the merger with Porsche.

Article first published on LExpress.fr

In shock. Back Thursday night in Lorraine, Edward Martin, the CFDT delegate of ArcelorMittal Florange, found the words to shout his anger. "At noon, I was unable to speak," he admits. Hours earlier, he was still in Luxembourg, following a meeting of the EWC's No. 1 global steel industry. Meeting at which management claimed to have nothing to say to the union representatives, while in Belgium, the Walloon region have learned announced the closure of two blast furnaces in Liege. "The Belgian colleagues were crying," said Edouard Martin.Both blast furnaces were arrested temporarily. Florange such as: one ceased operations on July 6, the other on October 4. "How to extend credit to the word of Mittal who say one day it will not close and decide the opposite the next day? Edward Martin gets carried away. Eric Besson does not doubt the word of Mittal? It is more naivety is complicity! "

A Florange, fear is escalated after the announcement that hit the site of Liege. The area has already seen the closure of the steelworks in Gandhinagar in 2009. Teams know that ArcelorMittal wants to improve the productivity of blast furnaces and focus activity on large-capacity facilities, located by the sea, more profitable (Fos and Dunkerque in France, Ghent, Belgium, Bremen, Germany , Gijon, Spain).Seven sites in Europe are now involved in the activity stops, France, Belgium, Germany and Spain. On September 23, at the investor day in London, the management of Mittal announced an "optimization plan assets of € 1 billion" in the old continent.

"We wondered where it would find one billion, one begins to understand, but this is not enough, loose Edward Martin, furious. We always used the same refrain, the temporary closure. Until punch in the stomach the final decision. It is sure that with the presidential election, it would make a bad impression to announce closure of Florange. But what will happen there in June 2012? ". Segolene Royal after a fortnight ago, François Holland a week ago, Jean-Luc Mélenchon which is Florange this Friday, October 14. "But we are disgusted by the silence of French and European authorities, denounced Martin.Libya is saved, we save the banks, and we? We will not let them kill Florange. For thirty-three years I worked here. This plant is ours. In 1992, there had been 1.5% of payroll to pay for a new galvanizing line. They killed Gandhinagar, they will not kill Florange. Angry? Today, it is not anger, it's disgust. "

"Either we proceed immediately to implement significant structural reforms and monitor the dynamics of the debt or we face a dramatic situation," said Greek central banker in an interview to the newspaper "Sunday Real News".

For the man who sits on the Board of Governors of the European Central Bank (ECB), the realization by the firm BlackRock Solutions for an audit of the loan portfolios of Greek banks should help them to regain access to market financing.

The rating agency said its new rating, which is attached a negative outlook, taking into account the fiscal slippage and expectations of seeing the country no longer have access to capital markets during the second half of 2011.

Fitch added that it could deteriorate further note of Cyprus about new fiscal slippage and a lack of political will to implement austerity measures.

Fitch is the decommissioning of a few weeks after those of Moody's and Standard & Poor's.

The new Cypriot government on Wednesday introduced an austerity plan of 600 million euros, consisting mainly of tax increases, to reduce the public deficit to 2.5% of gross domestic product (GDP) in 2012.

Rio Tinto announced the sale for $ 340 million in February as part of its focus on its most important assets.

The European Commission, which acts as an agency competition for the 27 countries of the European Union said Friday that the transaction did not raise any particular problem of competition.

Talc, the softer rock that is, is mainly used in animal feed, ceramic tiles, chewing gum and powdered to make care of the same name.

The entity resulting from merger-Lactalis Parmalat is the world leader in dairy products.

"Lactalis will take control of the board, allowing it to impose its policy to the group," said an analyst in Milan, on condition of anonymity.

"There was a verbal battle in Italy, but the market has won," he added.

Lactalis has launched a bid for all of Parmalat, and the share of 28.97% of the capital accumulated since March should give sufficient weight in the General Assembly on Tuesday to win a majority on the board.

The fact remains that the subject is sensitive in Italy in March after the absorption of the jeweler Bulgari by LVMH, and with the prospect of a possible takeover of Edison by EDF.

In addition, the press has mentioned an interest in BNP Paribas for Banca Popolare di Milano.

A PATRON OF DEPARTURE

The General Assembly on Tuesday will also be a turning point for Parmalat in that it marks the end of the reign of seven years of the CEO Enrico Bondi, the Italian employers figure regarded as a Rectifier of ailing companies.

76 years old, Enrico Bondi is expected to leave the company, having lost the support of the shareholder Intesa Sanpaolo, which has no opposite-Italian offer against the application filed by Lactalis.

Enrico Bondi was criticized for its conservative policy with regard to dividend, and for not having spent the cash reserves of 1.4 billion euros to acquire new targets.

Among the potential replacements, the Italian press and analysts spoke of Franco Tato, former CEO of Enel, and Antonio Sala, head of Lactalis Italia.

Promising to guarantee jobs and maintain the seat of Parmalat in Italy, Lactalis has secured the support of unions Alps.

The French offered 2.6 euros per share to acquire 71% of Parmalat that it lacks, for a total of 4.3 billion euros. The offer runs until July 8, but the board of Parmalat was found to be unfair.

Take control of the board considerably simplify the task of the French group.

The IEA last week announced the release of emergency reserves, the Organization of Petroleum Exporting Countries had decided earlier not to increase production to compensate for the lack of Libya.This is only the third time that the IEA takes such a decision 37 years of its existence.

"The market is in normal (…) There is no need to increase supply," said Iranian Oil Minister Mohammad Aliabadi, who holds the rotating presidency of OPEC to the end of the year.

He was speaking in Vienna where he met officials from the European Union for an annual exchange of ideas, regularly since June 2005.This meeting could be much more animated than usual, at least behind the scenes, given the divisions within OPEC and tensions between the cartel and consuming countries, especially since the use of reserves.

Mohammed Aliabadi wondered why major consuming countries do not have adhered to the principles of free trade they advocate. "Why do they not respect these principles, it's really a big issue for us.We think prices should be determined by the market itself, "he said.

Iran is one of the OPEC countries to have this month blocked a proposal to increase the production promoted by the Saudis.

The price of Brent crude for August delivery touched a session low of 102.28 dollars a barrel on Monday, down about 10% from its close of Wednesday, the eve of the announcement of the IEA .

"The big problem is that Iran has the presidency of OPEC in 2011 and is a political instrument," said Olivier Jakob of Petromatrix. "The news emanating from the current OPEC is irrelevant because Iran has kidnapped the OPEC and we will have to wait for 2012, perhaps, see OPEC again work as an institution."

Minutes after opening, the Dow Jones 0.23% 27.47 points to 11,979.38, the S & P 500 gained 2.54 points, 0.20%, to 1273.52 and the Nasdaq advanced of 4.45 points, 0.17%, to 2648.18.

"The market was oversold in the past six weeks, a rebound in the short term is not excluded," said Chad Morganlander, portfolio manager at Stifel, Nicolaus & Co.

According to him, up 1% from current levels would be quite normal as it did not impact the general trend.

"I increase my exposure around the range of 1,200 points" on the S & P 500, he said.

The low valuations raises some offensive on the front of M & A. Allied World Assurance has proposed $ 3.2 billion in shares to take over Transatlantic Holdings. The first yields 1.46% while the latter jumped 12.45%.