Carrefour and Auchan bet on the return

The new school year has begun. The shelves of supermarkets anyway. Intersection and Auchan hypermarkets which have lost market share since early January, play their all to save the year. Their goal: to take advantage of this period, the largest in terms of sales after Christmas, to bring back customers and especially to force them to remain faithful to the brand.

Carrefour, the worst off of two, decided to strike hard, even if release into the wild to 1.3 billion euros of gift vouchers. The never-seen! "Our premium of 100 euros back complements the allowance paid back Friday by the government," said Noël Prioux, executive director of Carrefour France. The group breaks new ground by distributing 13 million in its hypermarkets checkbooks containing 10 vouchers of 10 Euro, valid for 5 weeks and from 30 euros to buy.The customer can not spend only 2 per week, in two predefined rays associated with the start, the traditional paper products and linens to leather, textile (women, men, baby) and electricity and the tooling. "We make a significant investment to support our customers in a key moment when they are faced with many expenses in a difficult environment," says Noel Prioux, which must succeed this time, after a failed September 2010 and the beginning of year catastrophic. The poor performance of the domestic market have already caused the departure of its CEO, James McCann, and sealed half-year results of the group.

Increase traffic

In addition to the premium back promotions in other departments. Carrefour also has finally increased the share of its own brand.When performing these three devices, the reductions can approach 80% back on the shelves, supports the group. If the brand has loyal customers and win back others with this, it has also not forgotten the food department. "As for offering toys at the end of year deals on the products at the start of school is only profitable for the traffic they bring," says one consultant. And provided that once in-store customers take the opportunity to make further purchases. "We've lowered our prices in August 1000 on food references: the effort for the products most frequently purchased by our customers, everyday products (dairy products and desserts, for example), and the products popular with families, "said Noël Prioux, which means" to rediscover Carrefour. "The objective is clear: "re strong business momentum in the last quarter."

Auchan and Système U have introduced similar devices. Thursday and Friday, customers who buy 23 items in the school are being taught northerner all of the purchase paid in vouchers to spend in the entire store … next week. In addition, the company offers a special on the shelf textiles from there too in addition to its promotional programs most common in the food department.

The concern again lead the CAC 40

Friday promises to be as black as the night before at the Paris Bourse. The CAC 40 was launched on the day down 0.37% to 3064.49 points. But around 9:40, the drop is accelerating: the Paris index unscrewed from 3.44% to 2970.13 points, releasing the threshold of 3000 points. London and Frankfurt lost respectively 1.10% and 1.36%. 2.19% loose Madrid, Milan were down 2.14% and 1.76% in Zurich.

Operators are struggling to recover from their emotions after the new European stock markets plummeting and U.S. Thursday. This morning, Asian stock market sent negative signals with indices in very sharp drop. This bad mood due to a surge in concern about the state of the global economy, reinforced by poor indicators of the Atlantic.Bad index measuring the Philadelphia Fed manufacturing activity in the region, lower sales of existing homes in July, new jobless claims rising again during the second week of August … All signs of the apparent stagnation of growth in the United States.

Concerns about U.S. growth fears add to the debt crisis in Europe, European banks are the first to bear the brunt. In its Thursday edition, The Wall Street Journal reported on fears the U.S. Federal Reserve on the liquidity of European banks. And for the first time since February, the European Central Bank (ECB) has given a major dollar loan to a European bank, whose identity was not revealed.An action that reinforces doubts about the ability of banks to refinance.

Morgan Stanley has added his two cents to panic, explaining that she perceived the United States and Europe as "dangerously close to recession." The President of the European Union, Herman van Rompuy, tried Thursday to calm the mind by ensuring that there was "no new recession" in sight. And this morning, Chinese Vice President Xi Jinping has reaffirmed that the U.S. economy was "resilient". In vain.

"The bears are back"

"The bears (pessimistic players, ie) are back in force that night, after disappointing U.S. economic indicators and renewed fears about the stability of European banks, which prompted investors to push the button sales," said Ben Potter, an analyst at IG Markets in Australia."There seems to be getting ready for a weekend very ugly, with a market dominated once again by fear and panic," he added.

Gold reached a new record Friday morning in Asia, to 1,837.50 dollars per ounce, due to the concern. And oil, which fell 6% in New York yesterday, continues to fall in morning trading. A barrel of "light sweet crude" for September delivery lost 1.69 dollars to 80.69 dollars while that of Brent North Sea crude for October delivery gave 68 cents to 106.31 dollars.

No significant indicator that could reverse the trend, are expected on Friday.

Values ​​to follow

The banking sector

European financial stocks, which had been rolled by a renewed tensions in the interbank market and concerns about the short-term refinancing of banks are still misguided.BNP Paribas (-3.22% to 33.11 dollars), Natixis (-2.90% to 2.81 dollars), Credit Agricole (-2.70% to 6.06 euros), Société Générale (-2, 69% to 21.02 dollars) and AXA (-0.56% to 10.28 euros) are in the red.

Danone: -1.75% to 46.05 euros

Nestlé, the group became a favorite activity for infant formula, Wyeth, Pfizer subsidiary, valued at approximately ten billion dollars (seven billion euros), officials said a source familiar with the bank.

Technip: -3.67% to 57.77 euros

The French engineering group said it had received a letter of intent on the part of the American oil company Anadarko for the construction of an offshore platform for the Gulf of Mexico.

Asian stock markets without direction

Asian markets are very cautious on Tuesday. Despite the encouraging signals sent by the European and U.S. markets yesterday, investors in the region remain on their guard. Indeed, everyone expects the outcome of the meeting between Angela Merkel and Nicolas Sarkozy, to improve governance in the euro area. "Investors will await the details of the meeting of eurozone GDP figures and the same region for the second quarter," said Ker Chung Yang, an analyst at Phillip Futures Oil in Singapore.

Against this backdrop of feverish expectation, the main index of the region play yoyo. Nikkei and Tokyo Stock Exchange best illustrates these movements. After opening up 0.58%, the latter no longer display an increase of 0.30% in mid-session. An hour of closing, it loses 0.01% to 9085 points.

Same hesitation in Hong Kong and Shanghai.The first stock exchange gained 0.41% to 7 hours while the latter gives up 0.30%. The Australian S & P lost 0.59% and the Indian Sensex gained 0.59%. The Kospi Korean, who had missed the rebound of the previous day because of holiday, takes 4.40% at the same time.

The technology sector responds to the purchase of Motorola Mobility

As for values, the Asian technology sector reacted sharply to the announcement of the acquisition of Motorola Mobility by Google. In Japan, Softbank, one of the operators who distribute Apple products, is illustrated by a decrease of 0.70%. In Hong Kong, Foxconn, Motorola partner, flies to 14.58%. In Korea, Samsung is gaining 4.53%.

In Australia, Qantas is one of the highest values ​​followed.The airline announced Tuesday a major restructuring over five years, which involves the elimination of 1,000 jobs, the purchase of 110 Airbus A320, delaying the delivery of six Airbus A380 jumbo jets and business development in Asia . Qantas will launch and a low-cost airline by the end of the year, Jetstar Japan with two Japanese partners, Mitsubishi Corp. and Japan Airlines (0.81%). The action of the Australian company climbed 1.77% in Sydney.

Oil down

As for the oil markets, oil was down in morning trading in Asia: a barrel of "light sweet crude" lost 45 cents to 87.43 dollars and that of Brent crude gave 42 cents to 109.49 dollars.

The oil market, as global stock markets, fears for several days a new slowdown in the world, against the backdrop of sovereign debt crisis in Europe and sluggish growth in the United States.

Fruits and vegetables producers' anger

Was rotten to the producers of French fruit and vegetables. Multiply these actions to raise awareness of the state of their precarious economic situation. Vegetable growers now call their members to "strike of public payments," inviting them to no longer pay their payroll and other taxes. "I did not revive the disastrous situation of 2009, laments Angelique Delahaye, president of vegetables in France. Treasuries of our 40,000 businesses are very tense, 10% to 15% risk of extinction. We invite them to put themselves insolvent employer contributions to the MSA, deadlines and other bank charges. We must keep what little cash we have left to pay our employees and our local suppliers, "she says.

The gardeners feel they have lost 20% to 40% of their turnover since the crisis of cucumber, late MayAfter the questioning of vegetables by the German authorities in the bacterium E. coli, there has been a surplus of vegetables in the European market. With, as a consequence, a collapse in prices. These never reached the levels of last year payday loans. First victim, the tomato, which is officially in economic crisis last week.

Finally, the bad weather came to tarnish the situation. "The winter vegetable pot-au-feu or those consumed in béchamel as cauliflower are selling well right now over their cost," says Angelique Delahaye.

Targeted actions

Fruit growers are hardly better off. They have the advantage of cross-over for the holiday challenge on the road. "Sos Fruits, Europe guilty, absent policies …" be able to read on the tolls or stickers on banners hung on the bridges of the A7."We sell our fisheries currently 30 cents below our cost, deplores Regis Aubenas, producer of peaches in the Drome, the cause of this action by the FDSEA. We call policies to regulate the market so that the Spanish leading provider of fisheries in Europe, stop the dumping by selling eg 35 cents per kilo in Hamburg at Lidl. "

The player is used by default in the articles of figaro.fr. Maj7

Mortgage: rising interest rates slows

If prices continue to increase, rising interest rates tend to slow down on its side. The latest results of the Housing Credit Monitoring / CSA published Monday, the average rate charged by banks for getting a home loan rose to 3.90% in July, or 0.04 basis points over that in June.

It's much more at the end of 2010, where it reached a low of 3.27% on average, before rising sharply in the first quarter of 2011. In the early months of the year, interest rates have taken nearly 10 basis points per month, before slowing gradually to rise in the second quarter.

Because the factors that competed so far in the rise in interest rates now seem not to have to play. "The increase began in November 2010 was related to liquidity constraints imposed by the Basel III.To satisfy them, the banks have increased their margins on new loans paperless payday loans. Today, this adjustment – of around 70 points to 100 basis points depending on the establishment – is probably done, "said Michel Mouillart, an economist at Paris X-Nanterre.

Other factors, however, could take over. The cost of money, in particular, could rise because of uncertainties related to the amount of sovereign debt. For the moment, "this factor did not play," said the economist. But it is already expected that the three-month interbank rates and increasing to ten years until 2012, drawing upward those for mortgages. "The movement of rising interest rates should continue," predicts ultimately Eluère Olivier, an economist at Credit Agricole.

Increase the duration of loans

Photo credits: Jean-Christophe Marmara / Le Figaro

The Cac 40 up sharply after the U.S. agreement

Relief. Is the word that prevails today in all of world stock markets, after U.S. lawmakers passed this night finally put to agree on raising the debt ceiling. In the wake of the Asian stock markets, the benchmark index in Paris advance to its first weekly session of 1.28% to 3718.38 points.

Last week, the inability of the United States to solve the problem of public finances had weighed on investor sentiment. In Paris the CAC 40 was indeed touched its lowest level in session year (3,630.75 points), while Wall Street finished its worst week in a year, despite the intervention of Obama Friday in an attempt to reassure debt.

After the relief 10 days ago on Greek sovereign debt, optimism is therefore in the financial Parisian.After weeks of negotiations, elected Democrats and Republicans have indeed finally found common ground on the amount of new ceiling, avoiding the world's largest economy is in default of payment in the coming days. According to preliminary information provided by the White House, the debt ceiling would be raised to 2.1 trillion dollars, which breathe new life in the United States on the forehead of the debt until 2013, after the presidential elections. This agreement in principle will also enable the countries to continue to borrow on the markets beyond the August 2 deadline set by the Treasury.

The reaction of rating agencies expected

On the other hand, no excessive optimism sustainable are to be expected in financial markets, at least until the U.S. Congress has not ratified the agreement. The first submission is expected to vote that day.Furthermore, few details have yet filtered on measures taken to reduce the deficit in the U.S., which does not exclude the possibility of deterioration in the rating of the sovereign debt of the United States.

For now, the first tranche of spending cuts of $ 1 trillion is expected. Then a bipartisan special committee of Congress will be responsible for finding the end of November additional expenditure cuts amounting to 1.5 trillion dollars. A total of 2.5 trillion dollars in budget cuts, all over 10 years. From this point of view, the reaction of rating agencies in this agreement called the "medium term" should be widely followed by markets in the coming hours.

On the currency front, the dollar has benefited only modestly from the announcement of the night, illustrating the temporary nature of such an agreement.Around 6:00, the euro slipped against the dollar at 1.4385 dollars against 1.4395 on Friday, but climbed against the yen at 111.67 yen against 110.41 Friday. For its part, the dollar set off again up significantly against the yen at 77.63 yen after briefly reached 78 yen, 76.73 yen against Friday night.

In terms of oil prices were up Monday morning in electronic trading in Asia, where the market relieved by this agreement in extremis. In morning trading, a barrel of "light sweet crude" for September delivery gained 1.53 dollars to 97.23 dollars. That of Brent North Sea crude for September delivery was appreciating $ 1.25 dollar to 117.99.

Macroeconomic side, investors should look carefully at the unemployment figures for the month of June (11am).Overseas are also expected to 16h construction spending for the month of June, the ISM manufacturing index for July.

As for values ​​to follow

Last week, the many semi-annual publications were rather disappointing, adding to the nervousness of investors. The pace slows publications this week, though are expected in the next three days the details of the interim bank shares. After the U.S. agreement, the entire sector was also well oriented (BNP Paribas will publish Tuesday, Wednesday Societe Generale, Natixis and Axa and Thursday).

EADS announced this morning that the takeover from Apax Partners Vizada, a provider of communication services for 673 million euros, the second largest acquisition in its history. The transaction will be financed entirely by cash.

Eiffage reported a slight slowdown in growth in the second quarter despite a sharp rebound from its construction activities, the division of public works who registered a decrease over the period.

Outremer Telecom. A draft tender offer simplified to the telecom operator was introduced by OMT Invest, a structure controlled by Axa Private Equity, according to a notice to the Financial Markets Authority (AMF) and released Friday.

EDF Energies Nouvelles (EDF ENR) has entered into exclusive negotiations with Capital Perceva to cede control of Supra, the fund feeds the project to file a simplified takeover bid at the end of the process.

General Health issued a sharp drop in operating profit in the first half due to exceptional items, but its revenue rose due to higher acute care stays.

Recylex published Friday sales for the second quarter increased significantly, from 32% to 125.34 million euros, supported by an increase of 48% of its business in recycling lead thanks to rising 16 % of lead prices and increased sales volumes.

Air Liquide. The gas giant reported Monday a 11% increase in net profit in the first half, to 750 million euros.It maintained its forecast a "steady increase" in net profit for the year.

Note that Gameloft will publish its interim results after market close, while Le Noble Age unveil at the same time state sales for the same period. The British bank HSBC, which is listed in Paris, finally published its results for the first six months of the year.

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Harry Potter translated into Tibetan desperately seeking sponsors

Norgy Puchunggal, head of the drafting of the Tibetan Youth Newspaper, fell in love in 2003. He spent two years translating into Tibetan Harry Potter and the Sorcerer's Stone, then a year for the second novel, Harry Potter and the Chamber of Secrets. At 40, he now attacks the other five volumes.

Not only did his translations were not reported, but it was found that in cities of Tibet parents are not interested in novels translated because they have nothing to do with the studies their children. In the country, the price of these books, 28.8 yuan (about 3 euros), making them inaccessible. So, Norgy Puchunggal, which has partnered with the Youth Foundation of Tibet desperately seeking sponsors to distribute free Harry Potter.

The apprentice sorcerer and his magic wand would they hear? The Commission for Banking Supervision in China has given the green light to the creation of a regional bank in Lhasa, with a capital of 1.5 billion yuan (161 million), funded by the regional government institutions and fifteen including several major public and private companies. Just now the spell.

Paris and Berlin agreed before the summit on the euro

A first relief is visible on Thursday morning in the euro area, a few hours of the meeting of European heads of state in 13 hours, which is to lay the foundations for the rescue of Greece. Indeed, after a marathon meeting more than seven hours, which ended the night in Berlin, Nicolas Sarkozy and Angela Merkel have agreed on a "common position". The head of the European Central Bank Jean-Claude Trichet joined the French president and German Chancellor later in the evening, he joined the discussions.

No tax on banks in the European level

Nicolas Sarkozy and Angela Merkel did not present the details of the compromise. They prefer to reserve the premiere of the content of this agreement for seventeen countries of the monetary union when they meet in Brussels. The Franco-German consensus as a basis for negotiations between the countries of the eurozone.

Still, the Franco-German snatched in the night is "a prerequisite" to a European compromise in Brussels, said this morning on France 2 Valérie Pécresse, budget minister and spokesman of the French government. "We must find a way to stop international speculation and stabilize the euro area", had said his side in the evening the French Foreign Minister, Alain Juppe, in Madrid. He added: "If the euro broke out, it would be a catastrophe." If not addressed on Greece "the consequences will be felt throughout Europe and beyond," stated yesterday the President of the European executive, Jose Manuel Barroso, calling the situation "very serious". "Borrowing 30 years "

The plan under discussion would be based in part on a private sector contribution of 32 billion euros over three years no credit check payday loans.It would ease the debt of Athens and would extend the term of the loans (up to thirty years), while remaining sustainable for the Greek economy. Along the lines of this project, private creditors would participate actively in the rescue of Greece, but each of these banks would remain free to choose the terms of its contribution from three possibilities.

Moreover, the German daily Bild reported that several leaders of major European banks will be involved in discussions. Josef Ackermann, the influential head of the first German bank Deutsche Bank, will include some of the participants in the summit, said the newspaper.

Diversification and increase in Fund resources Stability

In addition, the amount allocated to the European financial stability, currently 440 billion euros, should be raised. Europeans could also expand its missions.The latter lend in Athens what buy its own debt in the market for a price usually mentioned by 60% of their face value. Such an option would have the advantage of reducing the debt burden of the country to enable it to regain growth and ultimately solvency. The fund could also reduce the interest rate and lengthen the maturity of its loans to Greece, flexibility Ireland and Portugal could then benefit.

The suspense will last a few hours, the agreement between the countries of the eurozone is expected in the evening. But now, after the meeting between France and Germany, the euro is slightly redrese 1.4254 dollars.

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The government is mobilizing to the development of telework

Working from home one or two days a week: an impossible dream for most of the French, a reality for many Americans or Scandinavians. While telecommuting is over 30% in Finland, Sweden or the United States, it reaches 18% on average in Europe, it lags behind true in France with a rate of 9%.

However, telework is now greatly facilitated by the development of broadband networks and the boom in smartphones. But the benefits are many, for the employee, but also for businesses and the community. For the employee, it reduces stress, travel time, can increase efficiency and to better balance professional and personal life. For the company, it is a source of local savings and productivity gains.It is also an element of flexibility because it can help extend the service to customers, allowing more time slots adapted to their needs. Finally, for the community, promotes telework planning, reduced emissions of greenhouse gas emissions and relieving congestion. Thus, according to estimates, telecommuting one day a week could reduce by 5% carbon emissions.

Main obstacle: the manager

With this in mind, Eric Besson, Minister of Industry, is determined to eliminate the backlog of France. Pragmatic, he launched a study on the practice of telework in large companies. The results of this study will be published later this year.Conducted by the consulting firm Greenworking, this study aims to identify best practices and identify key success factors to foster the spread of teleworking in France. More than a dozen major companies have already agreed to participate in the study.

In the public sector, negotiations on telework in 2011. In the private sector, a dozen agreements were signed last year in large groups in the CAC 40. Based on volunteering, telework arrangements have been set up at Renault, Alcatel-Lucent, Dassault Systems, EDF, France Telecom and Microsoft. Axa, which has 76 telecommuters, the goal is to move to 200 people by the end of 2012.

But the brakes remain. Rather than legal, they are primarily cultural.Some employees are more justification in their work attendance and their results. But it is mainly the managers who are often opposed, fearing the loss of part of their power and status … Even if, ultimately, the overall results of their teams are improved.

Monaco placed on the royal wedding to revive its economy

The figures speak for themselves. In anticipation of the royal wedding of July 1 and 2, the National Council of Monaco, the equivalent of our Parliament, has allocated a budget of 4 million euros. Almost as much as the 4.4 million spent by the principality in 2010 to launch its corporate campaign in the French magazine and on the web. This shows the importance for the Rock the marriage of Prince Albert of Monaco and the former champion South African swimmer, Charlene Wittstock. Both in economic terms and in media coverage.

From next Friday, when the celebration of the civil union, Monaco looks indeed more than 200,000 visitors. A golden opportunity to restore a spotlight on the micro state of 35,881 inhabitants.Still considered a haven for billionaires, Monaco has indeed not escaped the crisis in recent years, in 2009 recording a decline of 9% of its tourism industry (mainly tourism business), before a resumption of 6 % last year. At issue: the crisis in the "customer proximity" (Italian and French), which became more reasonable.

Although the number of spectators attracted to the wedding should remain three times lower than the 600,000 tourists who traveled to London in April, for the marriage of William and Kate Middleton. But the Rock expects no less favorable economic impact. In anticipation of the weekend, everything was set up to attract maximum visitors: free trial of race cars, train frequency increased, on the big screen broadcast of the festivities, free parking, free admission to most museums … .Beyond the provision of 4 million euros of the National Council, the Centre has also participated in an amount that has not been made public.

Attract new large fortunes

The principality wants to use the event to attract tourists back wealthy, more and more tempted by other destinations. The sector remains in effect in the heart of Monaco's economy, with nearly 500 conventions and meetings a year and distributed 780,000 nights in the 16 luxury hotels. "Monaco must expand, transmit messages incentives to attract large fortunes, talents.It should be under the spotlight at all times, "said Michel Bouquier and the Director of Tourism of the Principality

Operation seduction seems to be working: within a week of marriage, hotels are almost full (2700 rooms, 90% in four stars), and the Rock is an increase of call for cruise ships in recent weeks. Remains to be seen, beyond the one-time event, the mass return of tourists will continue. Especially such an event is not without adverse consequences for the economy.For example, if the marriage of William and Kate has resulted in more than 570 million pounds (640 million euros) in economic benefits, productivity losses related to the only holiday of marriage (Friday, April 29 ) were valued at 7 billion euros.

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