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The German unemployment rate reached its lowest level since December 2008 but the uncertain economic outlook for 2011 could undermine this trend.

The number of unemployed fell by 21,000 in Germany in June, seasonally adjusted data, after falling 41,000 in May (revised from 45,000) to go back to 3.23 million, announced the Federal Labour Office.

The German unemployment rate displays and twelfth consecutive month of decline.

"The unemployment figures have stagnated at this level," said Andreas Scheurle, economist at DekaBank. "The economy is expected to deteriorate in 2011.This suggests that this figure should remain at this level. "

The number of unemployed for the month of May has been revised from 3,246,000 to 3,251,000 people.

The unemployment rate remained unchanged in June at 7.7% of the workforce.

Economists polled by Reuters expected a larger decline in the number of unemployed, with 25,000 applicants for fewer jobs and an unemployment rate unchanged at 7.7%.

In unadjusted data, the number of unemployed fell by 88,000 over the month to 3.153 million.

The director of the Federal Labour Office, Frank-Juergen Weise, it is possible that the number of jobseekers fell below the three million mark by the end of the year.He stressed the good economic performance in the second quarter but had doubts in 2011.

The drop in unemployment follows a surge in industrial orders in April.

"As the order books are filling up, companies must increasingly resort to stop using part-time work or new employees. However, he cautioned against being too optimistic," said Joerg Zeuner VP Bank.

The German manufacturing activity fell further in June, suggesting a slower recovery in Europe in the second half of 2010.

"The impending austerity measures to balance budgets in the euro area is already clouding the outlook," he adds."A further decline in demand would again use under pressure."

German Chancellor Angela Merkel unveiled this month a plan to achieve budgetary savings of 80 billion euros over the next four years, with the objective to comply with the requirements of the European Union by 2013.

Offer Pigasse-Bergé-Niel got the endorsement Monday of the supervisory board of the World allows both parties to enter into exclusive negotiations to resume and recapitalization of the newspaper said Monday the company director of the editors of World.

France Telecom announced earlier in the day that it would withdraw its offer of resumption of the World after the supervisory board, with the competing offer Friday received strong support from employees every day.

Two meetings were held in the afternoon.The supervisory board of the World Ltd has approved 13 votes for and 5 abstentions, while the supervisory board of the World Partners and Associates, which owns 60% of the World Ltd, has voted with 11 votes with 9 abstentions, told Reuters Gilles Van Kote of the Society of Editors of the World.

The latest version of the legislation on the reform of financial regulation has been adopted Friday by a committee of Parliamentarians American.

To be finally ratified, the text must still be approved by the Senate and the House of Representatives, then be subject to presidential signature by July 4.

U.S. legislators have therefore put a stop to the proposed overhaul of financial regulation in the country, having reached agreement on new restrictions on banking activities and proposed a compromise on the issue of derivatives.

It was around midnight at the U.S. negotiators Democrats have managed to find a first ground on the two thorniest issues of the bill.

The two clauses in question are intended to protect the banks' assets in risky activities of proprietary trading, causing the financial crisis of 2007-2009 which resulted in a deep recession and have led the state to fly to the rescue of the banking sector.

The Democrats were under pressure to complete their work within the next few hours, before President Barack Obama becoming engaged in discussions with leaders at the G20 summit in Toronto this week-end.

After 15 hours of intense negotiations, Democrats have finally agreed on a modified version of the so-called "Volcker rule" designed to restrict trading on own account and prohibit banks or the least strictly regulate their involvement in hedge funds and private equity investment.

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This relaxation would allow such banks to invest up to 3% of their total Tier 1 capital, core capital in hedge funds and private equity investment.

The project oversight of the derivatives market has however more trouble for lawmakers.This market 615,000 billion has to exacerbate the crisis and led to such a rescue of 182 billion dollars of public money for the insurer American International Group.

Democratic Senator Blanche Lincoln has reached a compromise with Treasury representatives aimed at forcing banks to divide their swaps which will also offer the opportunity to reach a wider variety of house swaps.

After hours of negotiation, other Democratic lawmakers have finally reached its position.

Dozens of Democrats in the House of Representatives, saying it would strengthen offshore activities, threatened to vote against the entire bill if continuation of this proposal.

Carrying out such a bill would be for Democrats a victory on the legislative front, after the health reform passed this year, more significant than the midterm elections will be held in November.

If the purpose of this bill, which has nearly 2,000 pages, is to avoid a global crisis similar to that which began in 2007, it will create a strong contrast constraints on the banking sector and could deprive him of several billion dollars in revenue.

Wall Street has launched major maneuvers to sink the project, despite a growing popular protest criticizing the bank failures and bonuses of executives. The Democrats had to suppress their ambitions, however radical overhaul so as not to deprive the votes of parliamentarians "centrist".

Wall Street fell nearly 1.5% on Thursday because of concerns about the state of the economy after the lukewarm assessment of the Federal Reserve on the pace of recovery in the United States.

The Dow Jones 30 industrials surrendered 1.41% or 145.64 points at 10,152.80. The S & P 500 is broader, lost 18.35 points, or 1.68%, to 1073.69.The Nasdaq Composite fell on its side of 36.81 points (-1.63%) to 2217.42.

The U.S. stock market has also suffered from the approach end of the legislative process of the radical overhaul of financial regulation, which should translate into lower profits for banks.

It is likely that the Democrats will retain bargaining provisions to severely restrict the activities of the banks own account, and some of their investments, not changing the text at the margin.

JP Morgan Chase and Bank of America have respectively lost 2.21% to 38.03 dollars and 2.66% to 15.02 dollars while the S & P financials grouping yielded 2.07%.

The good statistics of the day – orders of durable goods fell less sharply than expected enrollment and weekly unemployment fell more than expected – were enough to overshadow the comments of the Federal Reserve recognizes the fragility of economic recovery U.S..

"There has been little good news this week and reformed the financial system has further obscured the situation," said Alan Lancz, president of Alan B. Lancz Associates.

In terms of values, as Dell has lost 6.44% at 12.93 dollars, the investors had not been very convinced by the growth strategy announced in the day by the manufacturer of micro-computers.

The European Commission has condemned the French Bolloré to pay a fine of 21 million euros for price fixing in the market for carbonless paper.

The Commission fined Bolloré fined 22.68 million euros in December 2001 but the company had appealed to the European Court of Justice annulled the decision in September 2009 for procedural issues.

"The Commission has re-adopted the decision by correcting the procedural error that led to the cancellation of the 2001 decision," the EU executive said in a statement.

It has reduced the original amount of the fine to reflect the cooperation of Bolloré.

The Nobel Prize in Economics Paul Krugman attacked in an interview published Monday in Germany's unofficial candidate to head the European Central Bank, saying that naming Axel Weber present a "substantial risk (…)" for the euro. Asked by the newspaper Handelsblatt in an appointment of the current president of the Bundesbank to take over from Jean-Claude Trichet, Mr. Krugman replied: "The risk for the euro area would be considerable."

Economist criticizes Dr. Weber, one of the favorites to head the ECB, interested only in the fight against inflation even if it means endangering growth. "The risk of contagion (problems) from Greece to Spain and Portugal to Italy would be much greater with a president so conservative for the ECB," he saidKrugman, recognizing not personally know the owner of the Bundesbank.

Weber is concerned about inflation even when there is not, "he joked, adding:" If you are looking for someone who wants a 0% inflation even when the unemployment rate is 13 %, Weber is your man. " "The ECB must become much more flexible and aggressive. His conservative politics is primarily due to the sensitivity of Germany", he also analyzed.

Unlike the American Fed, the ECB has a clear mandate to preserve price stability, and not to support growth. Mr. Krugman also criticizes implicitly the direction of German economic policy, now focused on fiscal restraint. "This is not the time to be worried about the deficit", said the Nobel Prize, in line with recent remarks by U.S. President Barack Obama.