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The FFF will pay one million euros to Domenech

The former coach of the France team is expected to reach one million euros gross compensation after being fired from his job for misconduct. He originally sought 2.9 million before the Industrial Tribunal. Domenech made peace with the FFF for one million euros

The President of the French Football Federation (FFF) The Christmas Graët found an agreement with Raymond Domenech procedure for turning off the Labour Court, for 1 million gross, which must be ratified on August 4 by the executive committee of the FFF, said Friday familiar with the matter.

The former coach of the Blues, sacked for gross misconduct after the fiasco of the 2010 World Cup and claimed 2.9 million euros, thus specifically affect 990 000 euros gross, said the same sources, refining information published Friday in the newspaper Le Parisien.Lawyers for the FFF and Domenech's advice could not be reached Friday morning by AFP.

This agreement is the schedule given by the Christmas Graët, who had indicated on July 13 at the exit of an executive committee (new decision-making body) of the FFF that he hoped to find a "final solution" in early August with Domenech to avoid the final review of the case, scheduled January 13, 2012 before the Labour Court of Paris.

The Graët did not want the file poisons 3F. Ila then took matters in hand. "I got Raymond Domenech, explained the president of the Federation on July 13. If we can find agreement, I would prefer that the case be closed in coming days. Life is full of hope.I hope to find a definitive solution in early August I hope. "

The Graët Domenech and know each other well

As he had promised upon his election as President of the 3F June 18, the former president of the En Avant Guingamp (EAG) gives the order so quickly in the affairs of the proceedings to avoid unpacking the large industrial tribunal. A conciliation hearing in April between the two sides failed to Labour Court and the issue kept coming back in the debates. With this agreement Graët The image shows a 3F that captures files immediately, without giving in completely to the demands of the opposing party.For Domenech, it is to turn the page Knysna humanely, but draw the line entirely on the damage he claims to have suffered as an employee after 17 years of service.

The opening of direct negotiations The Graët-Domenech marked a break with the former president of the FFF, Fernand Duchaussoy, who refused and was in favor of a hard line. The Graët Domenech and know each other well. The Graët had shown its support for Domenech after the failure of the Euro-2008. "You do not win all the time, but also the friendships they have, and I may be a tendency sometimes to support when the pack is unleashed, he had entrusted the end of May on the subject. The protection is needed.Raymond Domenech of France has called three times for the finals, and in the past, it was not the case. "

This does not mean, of course, The Graët, formidable negotiator, to give gifts to the former national technician. "I am president of the Federation and it is necessary that he (Domenech) said that it was an employee of the FFF, I'm not ready to satisfy every whim of lawyers (the 2.9 million claimed ) ", and had stressed the head July 13.

The Paris Bourse is close to its lowest in 2011

The Paris Stock Exchange declined sharply and approaches the lowest of the year in early trade Friday after four consecutive sessions of decline against a background of political stalemate in the United States on the ceiling of debt and doubt resolution the debt crisis in the eurozone.

Around 9:30, the CAC 40 index lost 1.02% to 3674.92 points after a low of 3649.96 points, or five dots above the lower end of the year reached on July 18th (3645 points) .

The results of large groups is not likely to improve the climate created by the sovereign debt crises in Europe and the United States, investors punish poor performers.

Veolia (-6.58%) shows the largest drop in the CAC 40 after being forced to lower its 2011 targets.

Schneider fall of 4.3%, Japan and commodity prices have had a negative impact on the first half.

Vallourec gained 1.76% and is the subject of buying on the cheap after a fall of almost 17% following the announcement of a drop in its second quarter results.

London and Frankfurt lost 0.46% 0.81%. Of the European indices, the EuroStoxx 50 yields 1.07% and 0.69% Eurofirst 300.

The euro declined and traded around 1.4290 dollars against 1.4330 on Thursday.

The optimime market falls after the aid package to Greece

After initially reacted favorably to the agreement reached last week, financial markets are again skeptical Wednesday, including the voluntary participation of the private sector. The Paris Bourse ended sharply lower at 1.42%.

Blur, ineffective to stop the contagion, inadequate in terms of fiscal federalism, the agreement last week to save Greece towel analysts and critics have so far failed to convince a sustainable market.

Financial markets have responded well on Thursday and Friday after the heads of state and governments in the euro area are agreed to open the door to a Greek debt relief. But a week after the extraordinary summit, optimism has fallen.

The Paris Bourse, signing its third straight session of declines, lost 1.42%. Even pessimistic on other European markets.London lost 1.23%, 1.32% and Frankfurt Eurostoxx 50 1.65%.

The rates at which borrowing countries known as "fragile" in the euro area, most prominently in Spain and Italy, have started to increase in the bond market.

"What was said and done is just one more step, the minimum to avoid an imminent collapse" of the euro area, judged severely Kenneth Rogoff, former chief economist of the International Monetary Fund (IMF) in Le Monde two days after the announcement of the aid plan in Athens.

"We can not talk of a summit for nothing, but the agreement has too many gray areas and investors do not like uncertainty," said Franklin Pichard for his part, Director of Barclays stock.

The great unknown is the private sector, that is to say, banks, pension funds and other insurance companies."We heard a stake to 50 billion euros, but it is unclear who will bring what and over what period," said Geraud Missonnier of at Saxo Bank.

Several options are indeed available to private creditors. They will exchange their debt obligations against the longer term, to accept a discount to the value of bonds they hold or commit to buy the new securities Greek. "This smoke screen laid down by European leaders to avoid offending the sensibilities, does not facilitate the assessment of costs for each bank and thus the impact on their results," says Christian Parisot, an analyst for broker Aurel.

Similarly, the principle of involvement of private creditors on a "voluntary" under the terms of the agreement signed Thursday, maintains the focus.Many economists believe in the fact that banks could be forced to participate in the effort by regulation, for example.

The risk of contagion is still there

The risk of contagion the Greek case to other countries in the euro area does not seem to spread. "We gave ways to the European Financial Stability (EFSF) for Greece, but the states will probably not the same to help Italy and Spain," said Wilfrid Pham at Natixis. To reassure the markets sustainably, we should go to him, much further. "We have not advanced the issue of fiscal federalism," he laments.

And wonder. "The threshold allowed for a deficit to 3% of GDP is it still relevant today? Should we not consider setting up a supranational body to coordinate fiscal policy?".

Finally, markets are worried about the implementation of the highly political agreement to be voted by all the Parliaments of the States of the euro area to take effect. Adoption should not be a problem in France, but other countries may drag their feet.

The German finance minister, Wolfgang Schäuble, has sought to reassure the public on Wednesday, refusing to "sign a blank check" for the redemption of bonds of countries in difficulty by the EFSF, at the risk of blurring once again the message of Europeans about the virtues of their rescue plan.

COR-Deutsche Bank earnings below expectations

Deutsche Bank reported Tuesday a quarterly profit before tax lower than expected, following the presentation of its new management team.

Germany's biggest bank posted a profit before tax up 17% in the second quarter to 1.8 billion euros, while analysts polled by Reuters were expecting $ 1.97 billion.

Its net profit came out unchanged at 1.2 billion euros.

The bank expects to achieve its goal of a 2011 profit before tax of EUR 10 billion, but that it could miss its target on its corporate finance, due to the debt crisis in Europe.

Deutsche Bank announced Monday that a duo of Anshu Jain and Jürgen Fitschen be succeeded in May 2012 at the CEO, Josef Ackermann.

Anshu Jain, 48, heads the investment bank Deutsche Bank while Jürgen Fitschen, 62, driver's German operations of the facility.

Barack Obama criticizes the "imprudence" of Congress on debt

Following a meeting with congressional leaders, the White House Saturday criticized the "reckless political games" of the U.S. Congress on the thorny issue of raising the debt ceiling of the United States.

President Barack Obama continues to oppose a short-term renewal of the ceiling of the debt, according to a statement from the White House could lead to a deterioration in the rating of sovereign debt by U.S. agencies notation.

"Congress should stop playing recklessly with our economy, it would be better off to show responsibility and do its job – namely to avoid a default and reduce the deficit," said Jay Carney, spokesman for the House white.

For his part, John Boehner, Republican chairman of the House of Representatives, said he sought with other congressional leaders to find a solution "bipartisan" – beyond the party lines – to raise the debt ceiling of By the deadline of August 2 and avoid a failure of the United States.

In a statement issued after the meeting with the head of the U.S. executive, John Boehner says: "The leaders of the House and Senate will work to find a bipartisan solution to significantly reduce spending in Washington and preserve the full faith and credit enjoyed by the United States. "

The U.S. president has gathered around him the chairman of the House of Representatives, Republican John Boehner, Harry Reid, Democratic majority leader in the Senate, Vice President Joe Biden and Nancy Pelosi, minority leader in the Democratic House of Representatives.

If Congress does not fall by 2 August the ceiling of the debt of the United States, currently set at 14 300 billion, federal agencies can no longer be funded.Investors remain confident that an agreement will be reached on time but the concern is gaining the markets, a U.S. default on their debt is likely to trigger a global economic shock.

The United States now face the "real risk" to see the bill for its sovereign debt broken down by rating agencies, said Friday an official from the White House.

Democrats and Republicans agree that raising the debt ceiling begins with a budget deficit reduction but both sides fail to agree on how to get there.

Barack Obama and John Boehner appeared to move toward a deficit reduction agreement for $ 3.000 billion dollars but voices were raised in the Democratic camp to protest cuts in welfare benefits without immediate increase of taxes in return.

The president said he had submitted a proposal "extraordinarily fair" to John Boehner, but he was clear on Friday that the Republican had broken off negotiations once it had stopped responding to phone calls.

The Tokyo Stock Exchange gained 1.22% at closing

The Tokyo Stock Exchange ended up 1.22% on Friday, supported by its financials in the wake of satisfactory results delivered Thursday by Morgan Stanley while exports have benefited from the strengthening of the euro against the yen.

The Nikkei gained 121.72 points to 10,132.11 and the Topix, broader, took 1.01% to 868.81.

Analysts said the path to be taken by Japanese values ​​in the near future will largely depend on the evolution of the dollar / yen, but also the developments of the situation on the front of the European debt.

For now, the financial markets have focused on after Morgan Stanley has reassured investors by reporting a quarterly loss less than expected.

The Japanese banking stocks index closed up 2.33%, signing a fourth consecutive session progress.

Mitsubishi UFJ Financial Group, the first Japanese bank by assets and shareholder of Morgan Stanley in 22%, took 3.3%, while Sumitomo Mitsui gained 3.6%.

Exports in turn benefited from the strengthening of the euro, which climbed to a high of two weeks on the platform EBS, after leaders of the eurozone announced Thursday night to have reached an agreement aimed at alleviating Greece.

Canon has gained 1.39% and Sony Corp. was awarded 1.11%.

European shares end up, the ACC is 1.61%

European shares finished the session again on the rise, driven by quarterly results and the hope of encouraging a settlement of debt problems in the U.S. and Europe on the eve of a crucial summit of leaders of the euro area.

The CAC 40 index gained 1.6% or 59.65 points to 3754.60 points.

Other major European markets also finished up: London and Frankfurt gained 1.10% 0.40%. Of the European indices, the Eurofirst 300 took 1.32%.

The banks have benefited from news that the European Financial Stability Fund (EFSF) could be used to redeem bonds on the secondary market. Societe Generale gained 5.14%, to 36 euros.Dexia jumped nearly 9% to 1.8910 euros and Commerzbank of 6.31% to 2.51 euros.

Stoxx index of European banking was up 3.69%, its highest gain since Jan. 12.

An authorized source in the euro area reported that the euro area was discussing the possibility of allowing the fund to rescue the euro zone to extend credit lines to countries and to redeem bonds on secondary markets.

U.S. debt: the Senate is working on a "plan B"

To avoid a failure to pay the United States, U.S. senators plan to allow President Obama to decide one of raising the debt ceiling to 2.5 trillion dollars in three installments. Capitol

Trench warfare on raising the U.S. debt ceiling continues this week in Congress, where elected officials are working on a "plan B" to bypass the blockage and prevent a failure to pay the United States after August 2.

The political impasse remained Monday despite warnings last week of rating agencies, pressure from China, warning the administration against an Apocalypse if unpaid bills by the federal government. Monday morning, U.S. treasury secretary, Timothy Geithner, has nevertheless ensured that an agreement would be signed."Nobody is going to play stupid on this issue," he said on CNBC, saying again that default would be "catastrophic" for the country.

In the Senate, Majority Leader Democrat Harry Reid, took the issue seriously Monday by declaring that the upper house would remain in session "every day, including Saturdays and Sundays until (…) Congress passes a bill that prevents the United States to shirk its obligations. "

Faced with deadlock, Mr. Reid and his fellow Republican Mitch McConnell of attempting an operation last chance to reach a formula acceptable to both sides. This "plan B" would give the president the power to rise three times the maximum debt of 2,500 billion dollars by next year.But it would leave only the responsibility-and risk-policy of raising the debt ceiling.

The Senate plan could also include spending cuts of up to 1,500 billion over 10 years, measures on which both sides agree. The ultra-conservative movement of the "tea party" very influential in the House, however, condemned the plan of withdrawal.

For its part, the spokesman for the White House, Jay Carney, assured that the president continued to "call the broadest possible agreement". But according to Carney, the president wants to ensure that there is "a backup plan" such as that of Senator McConnell, even if this plan is not his preference. This could be examined by the middle of the week.

But before that, Tuesday, the House of Representatives will vote on the latest proposal of the Republicans, entitled "Reduce, cap, balance."The symbolic text, which should be rejected by the Senate to Democratic majority, would require such an amendment to the Constitution to the federal budget is in balance, as well as strong cuts.

The inevitable failure of this plan will only emphasize the gap between Democrats, who demand a policy of deficit reduction focus on more tax revenue, and the Republicans, who do not want to hear about tax increases but only draconian budget cuts. The White House pressed the point home Monday warning that Obama would veto the text, in the highly unlikely event that the Senate would approve.

Republican John Boehner said he was "disappointed" in a statement Monday about the threat of the president, accusing the White House to lack "serious" and to avoid difficult decisions."We're making progress," but Obama said Monday during a brief interview with the press.

CBS News poll released Monday, 71% of Americans disapprove of the way Republicans in Congress led the negotiations. Democrats register them a negative score of 58%. Since mid-May, the U.S. federal debt, to 14.294 billion dollars, has reached the maximum allowed, an issue that the Treasury is unable to circumvent that through hocus-pocus of short duration.

The Dow Jones gained 0.36%, the Nasdaq is 0.99%

The New York Stock Exchange ended Friday up 0.36%, the Dow Jones Industrial 30 45.03 points to 12,482.15 winner.

The S & P-500, wider took 7.53 points, or 0.58%, to 1316.40.

The Nasdaq Composite Index was up 27.34 points for his side (0.99%) to 2790.01.

For the week, the Dow lost 1.4%, the S & P 500 fell 2% and the Nasdaq 2.4% sold.

These data are likely to vary even slightly.

RWE sells its high-voltage network German

RWE, the fifth European group of utilities, said Thursday that he yielded to a consortium of financial investors 74.9% of high-voltage network Amprion Germany.

He added that the transaction, valued on the basis of an enterprise value of around 1.3 billion euros, will probably close in the third quarter.

A consortium of insurers take over the network, which comprises some 11,000 km of power lines.

A source familiar with the matter told Reuters on Wednesday that the German group could seal a deal this week on this assignment.

RWE is the third largest German utilities to divest its distribution, regulation by making returns less attractive.

Gas prices and electricity low, combined with the tax on nuclear fuel, RWE led to anticipate a decline in profits for three years.

Chief Executive Juergen Grossmann has embarked on a process of selling eight billion euros of assets, but according to sources familiar with the matter, he also considered the possibility of merger with Iberdrola.

The consortium will take control of the network consists of Munich Re, Swiss Life, Talanx

and a pension fund of German doctors.

Sources familiar with the matter told Reuters that RWE would retain operational control of the network even though it sold a majority stake

The Bundestag, the lower house of German parliament voted in June for a release of Germany's nuclear power by 2022, as a result of the nuclear disaster at Fukushima in Japan.

The action RWE gained 0.11% to a quarter of an hour of closing.