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If the timing of the IPO Facebook is still not known, investors are in turmoil. And gendarmes stock alert. The Securities and Exchange Commission (SEC), the authority of U.S. financial markets, has struck a major blow this week by denouncing irregularities in the market called "pre-IPO" or pre-IPO. She has filed suit Wednesday against SharesPost, a leading specialized platforms in exchange for shares of unlisted companies, like Facebook or Twitter. His main mistake "of having effected transactions in securities without being registered in advance with the regulators as a brokerage." Clearly, the operations were carried out in a strictly regulated market.

Finally, the SEC and the founder of SharesPost, Greg Brogger, reached an agreement. The company must pay a fine of $ 80,000, and its founder will pay $ 20,000 bonus. In addition, SharesPost acquired a brokerage, which allowed him to register with the Financial Industry Regulatory Authority (FINRA), another regulatory body. The SEC announced parallel lawsuits against two managers of private funds – Felix Investments and Free Facie Management Associates – "created solely to acquire shares of Facebook and other Silicon Valley companies, deceiving investors and pocketing commissions unspecified ". The managers of these two companies have sold securities to Facebook prices up to 66 dollars per share, nearly twice the rate at which they had got hold of it, denounces the regulator.  

Gamble "even for sophisticated investors"

"While we applaud innovation in financial markets, new platforms and new products must obey the laws and ensuring fairness and transparency are the basic mark of a good financial regulation", argued a officials of the SEC, Robert Khuzami, said in a statement totally free credit score. This is a very sensitive issue because Facebook is trading on a gray market with a valuation of nearly $ 98 billion! However, in the first approach, the experts were hoping for a stock of Figaro valuation of approximately $ 75 billion. Finally, it should rather be on the order of $ 100 billion, they say.

The issue of pre-IPO market is considerable, at a time when the SEC ensures restore investor confidence. "When you do not trust your neighbors are happy to see that there are police on the streets," said Max Wolff, in charge of research on the secondary market at GreenCrest Capital in New York, in the columns World. SharesPost and SecondMarket platforms are best known on the secondary market. A market that has allowed tens of thousands of wealthy investors to take their share of companies very popular, as were also Zynga or Groupon before their IPO. Caution, however, not to lose feathers, warns Marc Fagel, director of the SEC office in San Francisco, said in the statement: "This secondary market (…) is dangerous even for sophisticated investors."

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How will change employment in France in the second quarter of 2012? A little better than the first quarter 2012 but a little worse than the second quarter 2011, according to the latest Manpower employment outlook released Tuesday.

"For the second quarter 2012, the companies surveyed by Manpower Group in France expect a slight increase in employment opportunities. The net employment stood at 2%, one percentage point increase over the first quarter of 2012, but down one point compared to second quarter 2011, "said the giant temporary employment and recruitment. The general trend is still a huge wait because, for the period between April and June 2012, 88% of employers surveyed do not foresee any changes in their workforce, while only 6% anticipate an increase in their numbers.

These results compare employment opportunities in the world, where the results are generally much more positive. "Employers in 32 of 41 countries and territories surveyed expect to increase their workforce in varying proportions for the second quarter of 2012," says the barometer Manpower.

In Europe, the most optimistic outlook are observed in Turkey (26%), Israel (17%), Romania (13%), Norway (11%), Germany (9%), Sweden (9 %), Slovenia (9%), Bulgaria (8%), Poland (6%) and Austria (6%), Manpower said. In the "Americas", the ten countries studied show a positive net balance in the quarter. This is Brazil, with a positive net balance of 39%, which remains the most optimistic countries in the area. Finally in Asia-Pacific, eight countries in the region show a positive net employment for the second quarter, but on the previous year, the trend is towards degradation since six of the eight countries are reducing their net. According to Manpower, the recruitment programs the most important will be located in India (44%), Taiwan (+31%), China (+21%) and Singapore (20%).

The West and the South of France most dynamic

All French regions are not as dynamic in terms of jobs and recruitment. For Manpower, only employers in South and West show a net positive employment for the second quarter 2012 compared to the first, 7% and 8% respectively. However, the North and the Ile de France display a net negative employment of -3%.

The record is darker on a yearly basis for comparison: three of the five regions studied announce a reduction in employment opportunities, with a decline of 6 points in the East, by 3 points in the Ile-de-France 2 points in the North.

The manufacturing sector will be the less buoyant

To which sectors should be directed to hope to get a job? The Manpower emphasizes that for the second quarter, employers in seven sectors of the ten surveyed anticipate an increase in their numbers. These are public services, hotels and restaurants (3%), transport-logistic (3%) and trade (3%). Conversely, employers in the sector of manufacturing and the extractive industries project a decrease in their numbers. From one year to another, only five out of ten sectors are seeing improvement in their net employment (trade, transport and logistics, utilities, hospitality industries, extractive industries). Manufacturing is the sector with the largest decrease, with -7 points over one year.

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The price of gas and electricity for low incomes will fall in Reunion, and those of 40 essential commodities will be frozen at least from March 1 through the efforts of local communities, said Friday the prefect, Michel Lalande. A series of measures taken after a round table of five thirty gathering around him the chairmen of local councils, chambers, representatives of consumer associations, oil companies and professional drivers guaranteed payday loans. All participants in the roundtable have finally launched a "solemn appeal" to calm the population.

The euro countries should provide in the night the green light to a massive assistance to Athens, to save him once again the bankruptcy assistance, debt forgiveness and contributions combined, Greece will cost more than € 350 billion in twenty months just to the EU, banks and international institutions. As much as the debt that the country continues to grow as Sisyphus his rock.

Assistance discussed Monday in Brussels, amounting to EUR 130 billion, shows more modest ambitions than the first 110 billion plan presented in May 2010 as a panacea. The 2012 version covers the next eight years, but it is far from solving all maturities by then. It does not fill a growing distrust between Greece, is said bled dry, and creditors like Germany believe that it can never do enough.

Demand concessions maximum

In the calendar, the distress of Athens as important as the progress of complex financial dealings with governments, private banks, the IMF and the ECB. Under penalty of default, the government must realize Papademos an agreement with its creditors before March 20, deadline by which 14.5 billion of government bonds mature. "We must conclude today, because time is running out," said President of the Eurogroup, Jean-Claude Juncker.

Faced with the enormity of the amounts, the sense of urgency is far from being shared in the monetary area. North, capitals such as Berlin, The Hague and Helsinki took advantage of last hours to demand concessions maximum of Athens by suggesting, as the German Wolfgang Schäuble, a Greek bankruptcy would be manageable after all.

To the south, others are alarmed instead of a possible contagion of bankruptcies in Portugal, Spain and even Italy, in the midst of a recession. "We have now all the elements for an agreement," insisted Monday Baroin. Europeans are close to finalizing, but a diplomat added, "they still have to lift the heaviest of ambiguities" in that price, Greece should it stay or not in the euro?

A surrender of sovereignty single

The agreement on the table focused on two issues: the erasure of unprecedented € 100 billion of private debt, agreed in advance by the banks, which must be added to the bailout of at least 130 billion euros financed by creditors. It is on this second effort, called on governments and international institutions, that the real uncertainties remain to be overcome.

Despite the anger of the street, the government is preparing to slash Papademos 3.3 billion in additional government envelopes, like Medicare, minimum wage and defense. "The Greek people have made considerable efforts, it is now for others to do the same," assured his arrival a Christine Lagarde yet mindful of the IMF funds.

Politically, Athens refuses any loud and European tutelage and just show the vitriolic exchanges with Berlin. But in practice, Greece seemed about to make a single surrender of sovereignty: the establishment of a budget account blocked, intended to guarantee the repayment of debt and interest payments. The mechanism, suggested as a sign of confidence by Berlin and Paris, is to serve the foreign creditors before committing a penny of national public expenditure.

Even if Athens managed to get unparalleled support that night, he will probably remain the Greeks the bitter taste of a potion imposed from outside

. Aid to Greece (public and private since May 2010)

110 billion euros. Amount of the first rescue plan EU-IMF.

€ 130 billion. Amount of the second rescue plan EU-IMF.

100 billion euros. Amount of Greek debt erased by the private sector.

12 billion euros. Realized capital gains on government debt which should give the ECB the benefit of Greece.

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Organic products seem immunized against the crisis. Last year, sales were nearly $ 4 billion euros, an increase of at least 10%, as estimated by the Bio Agency. A sacred performance. Over the same period, sales of consumer products (food and hygiene products) have indeed stagnated in volume, and increased by only 3% in value.

Despite prices 20% to 50% higher, organic products, which represent less than 2% of the food market, continue to attract consumers. However, they are less likely to try the bio. In 2011, 40% of French reported consuming at least once a month for organic products, when they were 43% in 2010 and 46% in 2009, according to a survey by the CSA institute. "In a crisis, the curiosity of consumers is less, recognizes Elizabeth Mercier, Director of the Agency Bio. But market growth in 2008, the year of crisis, was 25% and 19% by volume. " In contrast, 18% of those who consume at least one organic product a week they intend to increase their intake this year. "This allows us to expect a further growth of organic products in 2012," said Elisabeth Mercier.

More visibility on the shelf

"The potential of new consumer stays there, half the French having no problem purchasing power," said Didier Perreol, group president Ekibio (Priméal, Bisson, My life without gluten?), Which states that Organic consumers are mostly from the wealthier classes.

"The market continues to grow as a supply effect contributes mechanically to increased purchases," says Isabelle Senand, author of a study on the bio for Xerfi instant payday loan. This is the result of the number of openings specialized brands (Naturalia Biocoop, La Vie Claire?), Pioneer of organic and enlargement of the assortment in supermarkets and hypermarkets. Today, 10% of milk sales are conducted in organic section, over 15% of sales? Eggs but only 6% of sales of fruits and vegetables. Last year, innovations in the organic section have increased among the national brands, ham Fleury Michon Pom'Potes Materne to Mont Blanc.

"The distributors have established themselves in this market with their brands and national brands, explains Isabelle Senand. All signs now have their own organic brand, which is largely the democratization of the market. "

The price gap has in fact reduced in grocery, fruit and vegetables or dairy products. "In five years, our prices are down 15% due to higher volumes, which allowed us to increase productivity," says Daniel Tirat, CEO of two cows, the brand of organic yogurt from Danone, the second mark market.

In three years, the market for organic fresh dairy products has doubled to 100 million euros. "We are in a logical recruitment of consumers, two thirds of our buyers who have never eaten organic yogurt, adds Daniel Tirat, which will test next month at Monoprix sales of butter and cream The two cows. We need the bio is even more visible rays. "

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The example of Greece who was indebted beyond measure in 2004 to host the Olympics in Athens he served as a warning. The doubling of costs that will have to consent to become London Olympic capital from July 27 to August 12 this year has reinforced his belief.

Mario Monti decided Tuesday not to proceed to Rome's candidacy to host the Olympics in 2020. He had until today to file it with the IOC in Lausanne. The President of the Council considered "irresponsible" to engage in an adventure that no one could control costs. The State should guarantee 4.7 billion euros of public funds.

Mario Monti said he made the decision and only "reluctantly". Regardless of the strong pressure of industrial lobbies, political parties and the Mayor of Rome Gianni Alemanno. To the President of Confindustria Emma Marcegaglia, these Games were a "unique opportunity", a "wheel of growth to boost investments" in decline.

According to the research department of business, foreign investments in Italy decreased from last year … 53% compared to 2010. Mario Monti told him so incisively: "the government had to ask for sacrifices very important to Italians. Now that the immediate danger seems to recede, we do not feel ready to assume a financial commitment that could encumber the public accounts in unpredictable ways in the coming years. "

This decision comes after Moody's downgraded in turn has the Italian note citing the lack of creditworthiness of its debt. Yet Rome was given as a favorite by bookmakers in London.

Greece is on everyone's lips in Cannes, which should open the G20 summit on Thursday morning. The Greek prime minister was called to 8:00 p.m. Wednesday evening for a meeting including President Nicolas Sarkozy and German Chancellor Angela Merkel. It must explain its decision to submit the agreement European referendum last week.

Paris and Berlin put pressure on Athens to advance that the referendum in late November, while January was first advanced. The two major euro-area warn that the disbursement of 8 billion euros in aid granted by the EU and the IMF has become uncertain.

In this context of uncertainty exceptional French interest rates soared in the morning, the gap is widening at a historic German rates.Potential victim of contagion, Italy tries to reassure her convene an extraordinary cabinet meeting on Wednesday night to adopt austerity measures guaranteed payday loans.

• Merkel wants clarity

"We have set up a program with Greece last week. We want to make this program and why we need clarity. This is what should serve the meeting tonight, "said German Chancellor Angela Merkel in Cannes on Wednesday. It should meet in the afternoon Greek Prime Minister George Papandreou, along with Nicolas Sarkozy, representatives of European institutions and the IMF BEYOND CEO Christine Lagarde.

The announcement on Monday night next to the organization of a referendum in Greece in the European aid plan has caused a panic in the markets and threatens the firewall in place within the euro area the last week.

The contenders are scrambling acquisition of Yahoo!. The U.S. internet group Google would consider helping a third company or a consortium to finance a takeover of its rival Yahoo!, a source close to the talks, quoted by Bloomberg. Google may not take part himself in a transaction and did not initiate serious negotiations with potential partners, the source said.

Yahoo! is looking for strategic direction since the forced departure of his former boss, Carol Bartz, who was landed in part because the group failed to catch up with Google on the advertising market in line. Google, meanwhile, is sitting on cash of $ 42.6 billion, hence its interest in helping a potential buyer of Yahoo!. And thus strengthen its dominant position.

Neither Yahoo! nor Google have commented on this information.The Wall Street Journal had reported earlier Saturday that Google would consider a takeover offer for Yahoo! and have begun discussions with two private equity investment to help finance the acquisition. However, any operation involving Yahoo! and Google would not fail to attract the attention of the U.S. competition. In 2008, they had already stopped advertising partnership between the two groups.

Chinese Alibaba on the offensive

For weeks, speculation about Yahoo!, which is valued at 20 payday loan online.35 billion dollars (14.5 billion) abound. Microsoft would be combined with the investment fund Silver Lake and a Canadian pension fund to file a joint bid.Several other potential buyers would have emerged, including KKR & Co. and Blackstone Group LP, or Providence Equity Partners, together with a former head of News Corp., Peter Chernin, according to recent rumors that boosted the stock market as Yahoo! .

The attraction of the group in Sunnyvale, California, is to China. Jack Ma, head of the Chinese Internet giant Alibaba, has reaffirmed its "strong interest" to Yahoo! Thursday. He announced that he would leave to meet American partners, in particular investment funds, with whom he could buy the Californian group. Jack Ma intends to soothe U.S. opposition to a possible acquisition of Yahoo! by a Chinese group. The first time he had expressed interest in the American group in early October, the owner of Alibaba aroused strong emotions in the United States.Associations for the protection of personal data concerned have to see the information of U.S. citizens go under foreign flags.

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The war of positions that settled for months at the head of Air France KLM, in view of the succession of the CEO Pierre-Henri Gourgeon, should find its outcome brutal Monday.

Reportedly, the board will meet to start RECORDED Pierre-Henri Gourgeon. In office since 2009, the executive director of the group pays two things. On the one hand, his conflict with the chairman of Air France-KLM, Jean-Cyril Spinetta, and on the other hand, the disappointing results of the company. "He did not totally unworthy, but a change in governance was necessary at the time of uncertainty hovering over the company and the industry," says a close case. No comment was made Sunday at the headquarters.

Overhaul of the governance

The departure of Pierre-Henri Gourgeon will be accompanied by an overhaul of governance.Jean-Cyril Spinetta back in service by chairing executive of Air France-KLM. The owner of the historic French airline, the architect of his marriage with his Dutch counterpart, never far away from its management. In addition, Juniac Alexander, former chief of staff Christine Lagarde, will be named him CEO of Air France. A key post in the new organization which eventually opens the way for the management of all Air France-KLM.

After months of controversy within the Board and the Company, the Nominating Committee consists of four directors (Jean-Francois Dehecq, Patricia Barbizet, Jean-Marc Espalioux and Cornelis van Lede) has finally agreed on the name 'Alexander Juniac, under the watchful eye of the state, which owns 15.7% of the group.Ironically, the former right hand man was the candidate pushed by Pierre-Henri Gourgeon, opposite Jean-Cyril Spinetta, who advocated an internal solution. Indeed, this lively debate which had laid bare the tensions between the two leaders of the company.

The new organization, which will be confirmed Monday, also intended to bring Air France-KLM in a position to face its difficulties. The latest quarterly (April to June 2011) revealed an operating loss of 147 million euros. Back into the red after one brief year of profits. Since then, the situation was still tense, so that the group launched in early September a new savings plan. No figures have been officially announced, but it evokes a range of 700 to 800 million euros.The specific measures should be adopted at the end of this month.

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Convince donors of failing markets. That's what worked on Sunday, Greek Prime Minister George Papandreou, bringing together an extraordinary Council of Ministers rather than submit to the UN forum in New York. After the cabinet meeting of three hours, the Finance Minister Evangelos Venizelos said that "for the 2012 budget must take steps to reduce public spending, with the aim of reducing the public ".

The government needs to get results as soon as possible if he wants to convince its European partners to validate the new aid of EUR 160 billion, decided on July 21. Representatives of the European Union (EU), European Central Bank (ECB) and International Monetary Fund (IMF), the troika in charge of assessing the progress of reforms, delaying their return ever in Athens.Their endorsement, however, is decisive that Greece can get the sixth tranche of the loan of 110 billion euros granted in 2010. "Without this payment of € 8 billion, the state coffers will not hold beyond the month of October," warned Filippos Sahinidis, Vice Minister of Finance. But Saturday, after their meeting in Wroclaw in Poland, EU finance ministers have postponed the go-ahead to October. This meeting produced no significant advance both in Greece as European banks face a new crisis of confidence.

Default

Pending the arrival in Athens of the troika, the Minister Venizelos talks with his representatives this evening by telephone business cards. It should detail the new economy measures.Among the efforts demanded by the creditors of Athens, are, according to a senior Greek, "the introduction of lay-offs in all public bodies, the freezing of pensions by 2015 and the merger or closure of a thirty agencies. "

Despite the urgency of more and more prevalent in the Greek situation, the Europeans always show their divisions. The Austrian government has again raised the possibility Sunday of a default of Greece. A way officially rejected by Paris, while in his interview on TF1, the former director of the IMF Dominique Strauss-Kahn called for "taking his loss", ie to wipe the slate Greek.

In Wroclaw, the finance ministers also confirmed the need to strengthen the weakest banks. But they kept to evoke the injection of public funds in an emergency."We're not worried," or the liquidity or solvency, provides Baroin on his return from Wroclaw. This belief annoys outside the euro zone, especially after the warning issued to Europeans by the Treasury Secretary Tim Geithner. "The leaders of the euro area should be aware that time is running out," launched the British Chancellor of the Exchequer, George Osborne.