The difficult negotiations between the Greek Prime Minister Lucas Papademos government and political parties are expected to continue Tuesday, while Greece will be a general strike, to wrest the downstream parties to reforms demanded by the EU and the IMF.

As the day until late at night, Mr. Papademos was to meet Monday evening the Troika representing the country's creditors, EU, IMF and ECB, whose patience is sorely tested by the length of the bargaining.

The hope is to conclude a political agreement Monday between the leaders of the three government parties, George Papandreou (Socialist), Antonis Samaras (Conservative), and George Karatzaferis (far right), on measures to implement was away with the "very likely" to report Tuesday to the meeting originally scheduled for Monday, according to a government source. "Negotiations continue

. There are still issues to resolve," said a government source told AFP in order to justify this new deadline. The challenge is to put an end to three weeks of negotiating a double, both with foreign creditors and the three political leaders, on the modalities for the further course of rigor required by countries in return for a second plan bailout of 130 billion euros.

To release these funds, and also endorse the erase operation 100 billion debt by private creditors, institutional lenders require an explicit commitment to MM. Papandreou, Samaras and Karatzaferis, in turn reluctant to countersign and unpopular measures that could deepen the recession. But the length of the bargaining has the patience to creditors.

Discussions are "already beyond the time," warned Monday Amadeu Altafaj, spokesman for the European Commissioner for Economic Affairs, Olli Rehn, noting that Brussels had relied on an outcome this weekend. Meeting in Paris, French President Nicolas Sarkozy and German Chancellor Angela Merkel have also increased their pressure.

"The Greeks have made commitments, they must scrupulously respect, there is no choice, time is short, it's a matter of days, now we must conclude" Sarkozy said. Sarkozy and Merkel also wanted the money paid by creditors to Greece (as a slice) is blocked in an account "to be sure that this money will be permanently available" to ensure service payments of debt.

Athens has a vital need for new aid to avoid default on 20 March, at maturity of debt of 14.5 billion euros. After five hours of Sunday in discussions with the three leaders, Mr. Papademos expressed an agreement on the extent of cost savings (about 3.3 billion euros) on the implementation of reforms aimed at lowering production costs and on a scheme to recapitalize banks.

According to media reports, the recent negotiations should focus on cutting the amount provided in supplementary pensions, the reduction demanded by the EU and the IMF in the minimum wage and on a proposed 15,000 layoffs in the public fast. The two leaders were right when they left the meeting raised their voices against the rigors advocated, but Mr. Karatzaferis then shared developments "satisfactory". The Socialist Party, which ruled the country until the November ouster of Mr. Papandreou, former Prime Minister-elect is ready "to show the same sense of responsibility" than before, for his part said his door voice, Panis Beglitis. But it does give the green light "that if an agreement on all of everything," he warned.

The Ministry of Finance has in turn ruled out the hypothesis of a deletion of two of the 14 months' salary in the private sector, despised by Mr. Samaras. Most newspapers were betting on a deal Monday morning's final trio Greek politics, which would allow Mr. Papademos lead to a close parallel final agreement on debt restructuring with private creditors.

The two largest unions, GSEE and ADEDY for the private to the public, also anticipated an agreement calling for a general strike Tuesday 24H, which is particularly disturbing schools, links with the islands, public transport and administration. A demonstration is planned in the center of Athens in mid-day.  

The new measures "are the chronicle of a death foretold (…), the goal is to bring down the entire law of labor and reduce wages by 20 to 30% in addition to cuts already made," he said President of GSEE, Iannis Panagopoulos. With ADEDY, GSEE had already organized six general strikes in 2011, but failed to bend donors. The leftist opposition, communist and radical, for its part is mounted to the front by announcing events on Monday night.

The two main Greek political parties that have managed Sunday evening to a political agreement to form a national unity government agreed that February 19 would be the most appropriate date for the elections, said the Greek Ministry of Finance.

The number two manufacturer of sporting goods after Nike has identified three times its sales prospects this year.

The German group now expects growth in its turnover by nearly 12%, adjusted for exchange rate changes, against a target of 10% previously announced, the company announced Thursday.

For 2012, Adidas is an increase from 10 to 15% of its earnings per share, a year that will be paid by the UEFA Cup and 2012 Olympic Games in London.

Its turnover is expected to grow between 5 and 10% next year, adjusted for currency movements.

The group's operating income in the third quarter 2011 rose 7.3% to 441 million euros, in line with analysts' expectations, which stood at 442 million.

The quarterly revenue rose to 3.74 billion euros, slightly higher than the expected 3.65 billion.

Despite the Europe Agreement in an attempt to stem the crisis, the cost of financing the huge debt of Italy rose again Friday at a bond test, the markets continue to doubt the credibility of the Berlusconi government.

The continuing crisis in the euro area and new signs of slowing global economy led to a sharp correction in equity markets, lower long-term rates and a rising dollar.

Governments and institutions in the euro area must act quickly to resolve the crisis of sovereign debt at the risk of contagion in the global economy, said seven of the leaders of the G20 in a letter to French President Nicolas Sarkozy, France chairing the G7 and G20.

In their letter, the leaders of Australia, Canada, Indonesia, Great Britain, Mexico, South Africa and South Korea are asking the leaders of the euro area to examine "all options to ensure long term stability of the second most widely used international currency in the world."

The U.S. Treasury Secretary Timothy Geithner has also been more urgent considering that it was more important to contain the crisis to support European growth and that it was essential to mobilize sufficient resources to avoid a default of Greece.He expressed confidence that Europe make more bold to resolve the crisis in the weeks and months ahead.

The European Financial Stability Fund (EFSF) will be fully operational and strengthened in the second half of October, said European Commissioner for Economic and Monetary Affairs Olli Rehn.

However, he felt that the Eurobonds, presented by their proponents as a solution to the debt crisis, would become "junk bonds" without better coordination of European economic policies.

The publication of purchasing managers index (PMI) showing a contraction in private sector activity in the euro area and China has fueled the drop in equity markets, the European indices yielding around 5.0 % in closing while the U.S. indices gave up over 3.0% in mid-session.

Finance ministers and central bankers from the G20 meeting in Washington at the annual meetings of the IMF and the World Bank, will discuss the crisis on Thursday night during a dinner but it is not anticipated that 'they publish a statement on the responses they intend to make.

THE EURO IN DANGER, SAYS STUDY OF THE ECB

The single European currency is at risk because of uncontrolled spending of the States of the euro zone and the debt crisis that ensued, warns a study by the European Central Bank (ECB), co-authored by Jürgen Stark, who has since resigned, because he seems to agree with the policy of buying government bonds introduced by the ECB in the fight against debt crisis in the euro area.

"The budgetary imbalances sharp rise in the euro area as a whole and the extreme situation of some individual countries could undermine the stability, growth and employment, as well as the sustainability of economic and monetary union ( EMU) itself, "it said in the study whose publication has plunged the euro fell to a seven-month low against the dollar, less than $ 1.35.

The European Committee of systemic risk (ESRB), new financial regulatory authority of the European Union, for its part warned that the consequences of the crisis of sovereign debt had significantly increased risks of financial instability in Europe.

"The high degree of interconnection within the EU financial system led to a rapid increase in the risk of contagion significantly.This threatens the financial stability within the EU as a whole and has negative consequences on the real economy in Europe and beyond. "

The ESRB, chaired by Jean-Claude Trichet, president of the European Central Bank, called for a "quick and decisive action" of the euro zone leaders whose efforts to contain the crisis is widely perceived as inadequate and too slow.

According to the ESRB, national supervisors "should coordinate their efforts to strengthen bank capital (…) taking into account the need for a transparent and consistent exposure to sovereign issuers."

Executive Director of the IMF, Christine Lagarde, renewed his call for a recapitalization of banks in Europe including the leaders of the institutions concerned and the governments of several countries in the euro area had downplayed the need for highlighting the strength of bank balance sheets in the zone.

Speaking on the eve of the G20 and the IMF, the Canadian Minister of Finance was alarmed by the possibility of credit crunch if the Europeans could not settle the Greek problem, by far the most critical within the euro area.

"The first item on the agenda …is that Europe needs to accelerate, they must resolve the issue of Greece, "said Jim Flaherty, the Canadian Broadcasting Corporation.

"Otherwise the market will prevail and we will have some form of crisis, it will become a banking crisis, affecting banks around the world, and we have a new credit crisis will cause a contraction of the real economy.We need to fix this, "he said.

The lack of solution to the crisis continued to weigh on European banks, the first of which French banks because of their exposure to Greece and Italy.

BNP Paribas has categorically denied being in search of investors for a capital increase and reiterated the line of French banks that it can cope with the debt crisis in the euro area without injection of capital.

A source based in Qatar had told Reuters on Wednesday that the emirate was in talks with BNP and other French banks about possible equity participation.

BNP Paribas finished Thursday's session down 5.7%, while Credit Agricole dropped 9.49% and 9.57% Societe Generale, while the sector index of European banks plunged to 7.26%.

Swiss bank UBS, which said Thursday he was the victim of fraud by one of its brokers who lost $ 2 billion, will "massively" reduce its investment banking and to make major layoffs, said the Helvetic Press Friday.

A reduction in size of the bank, often cited by analysts, should be announced Nov. 17 at the UBS Investor Day, said the daily Tages-Anzeiger, which is based on internal sources of bank.This will result in the reduction of "thousands" of jobs in the division, said the newspaper, which is also expected that the Chief Oswald Grübel and the head of the banking Carsten Kengeter have to resign soon .

The Swiss press has reacted strongly in the wake of revelations of the first bank Helvetic, who announced Thursday he was the victim of fraudulent activities of one of its traders, which caused him to lose $ 2 billion (1.4 billion euros) . While the bank had to release third quarter earnings of between 900 million and 1.1 billion Swiss francs, analysts said it could now suffer a loss of 500 million, the first since the third quarter of 2009.

"You have to ask, how is it possible, despite recommendations stricter domestic (…), to lose such sums out of control," questioned the daily Neue Zürcher Zeitung (NZZ). For the newspaper, the case threatens the reputation of the entire Swiss financial center, which represents more than 10% of gross domestic product Helvetic. A Swiss Exchange, the rebounded Friday morning as UBS. After closing Thursday down more than 10%, the action gained 2.67% to 10.01 Swiss francs in a market up 0.60%.

Oil was first discovered off the coast of Guyana, as Total and Shell. The deposit was located in deep water, in more than 2,000 meters deep, about 150 kilometers northeast of Cayenne.

"We are pleased with the preliminary results of the first ever undertaken exploratory drilling off the coast of French Guiana," said an official with the exploration department of Shell, David Lawrence. The "major" Anglo-Dutch holds the largest share (45%) of the project. She said it is too early at this stage to assess the reserves, but the initial results are "encouraging."

A spokesman for Total, which owns 25% of shares, confirms that this is the first discovery of oil off the French department. Guyana, region and overseas department of French, whose per capita income is one of the lowest in the country, has never produced oil.

A basement as rich as the Gulf of Guinea?

The finding revives hopes for a new Eldorado in the department overseas, prompted by the recent major discoveries in the north-east coast of neighboring Brazil.

Geologists assume that the basement of the northeast coast of South America is similar to the rich in hydrocarbons, Gulf of Guinea in Africa. The two were indeed connected before the continents formed and drift away from each other.

The exploration permit is operated by Guyanese British company Tullow Oil, which owns 27.5% of the project.It allows drilling to 6,000 meters (2,000 feet of water and 4,000 m in the oceanic basement). The installation in March of this platform had attracted the wrath of environmentalists, who worry about such a possibility of operation after the disaster of the Deepwater Horizon platform in the Gulf of Mexico.

According to Total, the drilling has already reached 5711 meters below sea level "After a campaign of intermediate measures, the drilling of the GM-ES-1 will resume soon to reach its planned final depth. The production potential and scope resources will then be identified, "said Total. "The joint venture will continue its drilling, evaluate results and decide next steps," said Shell.

The saddle on the Rue du Faubourg Saint-Honore, in which LVMH acquired a 21.4%, further confirmed its growth targets for all of 2011, statements in July, the group for an increase in its Sales at constant exchange rates between 12% and 14%.

Hermes also confirms that its annual operating profit "should be close to the historic high reached in 2010."The margin reached a record 27.8% last year, driven by growth also historical (+19% at constant exchange rates).

"We have not seen a drop in attendance in our stores, not even in Japan," said Patrick Thomas, CEO of Hermes, at a conference for the presentation of interim results.

"That does not mean there will not be," he added, however.

"In July and August, growth is not quite in the first half for reasons mainly the presence of products in shops," he also said Patrick Thomas, referring to the very low stocks in the group.

"The trend is still very good but it is lower than the first half (…), It is not at all a problem of declining attendance in the stores. "

"It is our policy to be as moderate as possible in price increases for next year (…), even if we find a strong increase of certain raw materials," also said the manager of Hermes.

THE DECISION 15/09 ON APPEAL OF THE ADAM

The manufacturer of Kelly bags or silk scarves saw operating profit rise by 37.3% to 418.1 million euros, increasing by 3.7 margin points to 28.3% against 32% a year earlier.

Net income rose 49.5% to 290.5 million euros against 271 million expected by analysts according to Thomson Reuters consensus I / B / E / S.

Patrick Thomas said the floating of the group was now "much reduced" and reiterated that Hermes had to purchase its own shares since early June to cover the programs for free shares to its employees.

He emphasized that such purchases had ceased since the course has exceeded 250 euros, the maximum purchase price authorized by its shareholders, suggesting that LVMH could in turn have continued to increase its stake.

Between early June and late August, Hermes acquired for 242 million euros of its own shares.

The Association for the Defence of Minority Shareholders (Adam) is also seeking to block the creation of a holding company by Hermès family control to counter a possible takeover bid by LVMH.

Hermes was granted a derogation from the Financial Markets Authority (AMF) to the obligation to redeem all the minority in the context of the creation of its holding.

Patrick Thomas was of a "serenity" vis-à-vis the decision of the Court of Appeal of Paris on an appeal of Adam against the exemption, expected Sept. 15.

In exchange, where it operates more at the mercy of speculation than on the performance of a group whose float is now below 7%, as Hermes was down 0.75% to 262.95 euros at 11:35, showing a up close to 68% since the beginning of the year for a market capitalization of around 27 billion.

Delta launched last year a tender for the supply of up to 200 aircraft to replace its oldest aircraft. The airline announced this year it was in talks with Airbus, a subsidiary of EADS, Embraer and Bombardier and Boeing.

"The 737-900ER aircraft is perfect to replace those that are the oldest and least efficient of our single-aisle fleet," said in a statement from Delta CEO Ed Bastian.

The Boeing 737-900ER is the latest addition to the family of next-generation 737.