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In May 2010, McDonald's France was a sensation with a TV spot in which a teenager going on a phone call to her boyfriend before having lunch with his father, who explains that, as he did at that age, it could be a 'real card with the babes. " Advertising has been around the world. In the original French with subtitles in English, it even triggered a controversy in the United States. The conservative Fox News channel has even made a field day. Sacrilege: great American brand in the gay friendly side!

In this spot, designed by BETC Euro RSCG, is not known if the son ends up coming out to her.But the statement by McDonald's, which has declined in all genres, is very clear that you're straight or gay, black or white, young or old, rich or poor, we do not judge, "just like you are. "

Before, we criticized the pub not to be representative of "visible minorities", not to be sufficiently "black-blanc-beur". Today, the debate has shifted to the "non-visible minorities" and still gets carried away on the issues of communalism, which are still taboo in France.

10% of "non-white"

The proportion of ads depicting characters perceived as "non-white" compared to the total advertising (TV, press and poster) distributed and reviewed by the Regulatory Authority's professional advertising (ARPP) reached 7% in 2008 against 3% in 2005, and this share has increased further since then, around 10%."Racial minorities are now represented quite rightly, said Ingrid Zerbib, image editor for the magazine Strategies, who viewed all the ads that come out in France. The next step is in progress. Homosexuals, the disabled and the sick are increasingly visible. "

McDonald's campaign has been emulated. Krys posted Orangina or gays in their pubs. Personalities with disabilities such as Down syndrome Pascal Duquenne for the virtual mobile operator Simyo, or the blind Gilbert Montagne, for heating specialist camera, turned in spots. Diseases are also commonplace."You can be sick without stigma," said Anne Ramon, communications director of the National Cancer Institute (INCA), the last campaign "I am a person, not a cancer," conducted by the agency La Chose , seeks to change social perceptions of one of the most widespread diseases in France.

In another, more commonplace, but also an affirmation of reality: that of the Community consumption, with the campaign launched last year by the brand halal Isla Delight "Proudly halal." On the occasion of Ramadan, for the first time in France, the brand was as diverse a reference food, free of any cliché. "This campaign is a marker, decrypts the marketing consultant Jean-Jacques Urvoy.The brand was treated as the French leader Charal. "On a halal market estimated at over 5 billion euros – and therefore highly competitive – the whole trick of the ad was to challenge the EU labeling, while displaying a rooster and a Charolais beef! A war of images in a way.

The Paris Bourse closed this week very agitated in the green. This Friday, the CAC 40 ended on a net increase of 4.02% to 3213.88. The London Stock Exchange gained 3.04% at the close, the DAX 3.45% to 5997.74 points, Milan 4%. But everywhere, the sessions have been very volatile in trading volume lower than the previous day (4.84 billion euros in Paris).

The CAC 40 is thus fell into the red immediately after opening up 0.17%. It still yielded 1.59% in morning before rising slope, and show an increase of 2.09% to 3154 points in mid-session.Around 16:15, the Paris index gained 2.76% to 3174.79 even despite the publication items, across the Atlantic, two mixed macroeconomic statistics that have hampered the enthusiasm of investors in New York.

Retail sales in the U.S. in July and were up 0.5% (after 0.3% in June), but the U.S. consumer confidence has it, fell in August. According to an index released Friday by the University of Michigan, which stood at 54.9, its lowest level since it is established, either since 1966. This drop has surprised analysts who had forecast a smaller drop to 62.5.

No growth in the second quarter

On the macroeconomic front in France, INSEE reported this morning from zero growth in the second quarter in France (0.0%), against an increase of 0.9% in the first quarter.Inflation also slowed: the consumer prices fell by 0.4% in July, resulting in an increase of 1.9% over the year (against 2.1% from June 2010 to June 2011 ).

Faced with these new investors are so cautious again after a week marked by extreme market volatility, which saw the CAC 40 push the psychological threshold of 3000 points during the session Thursday. Investors were finally reassured by the announcement of a meeting between Nicolas Sarkozy and German Chancellor Angela Merkel on August 16 to issue joint proposals on the governance of the euro area.

Bank stocks rebound

Since the ban on short selling in the securities of eleven banks and insurance companies to counter the extreme volatility of the stock market values, the latter continuing their rebound started the day before, the image of BNP Paribas (4, 91% to 37.47 euros), which issued a statement Thursday night to reaffirm the strength of its capital, Societe Generale (3.15% to 23.72 euros) and Credit Agricole (1.77% to 6 , 49 euros).

Natixis wins 7.26% to 3.06 euros and signs the largest increase in the CAC.

Carrefour jumps more than 5%

Other values ​​to follow, Carrefour pulls out of the game: the way ahead vigorously 5.13% to 18.85 euros.U.S. giant Wal-Mart have mandated UBS to investigate the acquisition of the Brazilian subsidiary of French retailer, according to Reuters citing a source familiar with the matter.

Goldman Sachs lowered its recommendation on Lafarge (-0.17% to 28.96 euros) and withdrew the title from its list of recommended values ​​in priority to the purchase.The intermediary has instead built his list to Saint-Gobain (3.72% to 34 euros) and Vinci (2.42% to 35.3 euros).

Europacorp (3.13% to 3.30 euros), the production company of Luc Besson, Thursday reaffirmed its goal of a return to balance for the current year, despite a sharp decline its turnover in the first quarter.

Derichebourg (2.98% to 3.63 euros) on Thursday confirmed its target of improving its annual net income, after recording a sharp increase in sales over the first nine months of the year.

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After one week on the black market European markets, policymakers in the euro area seized by the horns of the question. Nicolas Sarkozy must indeed meet this Friday with German Chancellor Angela Merkel, then with the Spanish Prime Minister Jose Luis Zapatero. These exchanges aim to take stock after the bear market in Europe yesterday. The head of state has already mentioned this yesterday with Jean-Claude Trichet, president of the European Central Bank (ECB), which failed yesterday to restore calm on financial markets.

In their discussions, the three heads of state should include mention the announcement by Olli Rehn, Commissioner for Economic and Monetary Affairs this morning of a new stage in the debate on European bonds (Eurobonds). The news was welcomed on the European financial centers.After an open down sharply by 2.5%, the Cac 40 has reduced its losses one hour after opening.

A report on European bonds issued after the summer

Anyway, the official European, the European Commission will, in fact, a report on the subject "after the summer," putting on the front of the stage waving and debate divides EU officials for two years. This idea is not new in itself, proposes to issue debt securities to common European states. These securities are guaranteed by all Member States of the euro area, to allow countries unable to borrow on the markets on terms acceptable to the markets, to finance themselves. In short: it would be to issue debt on behalf of the European Union, as can the U.S. Treasury to communitarise debts of the countries of the euro area.The creation of this type of debt across the euro area would therefore raise the fears of investors about the creditworthiness of a particular state.

In addition to its economic dimension, the project also presupposes political choices instant payday loans. It is indeed based on the principle of mutual assistance in euro, which hit the sensitivity of some countries, notably Germany, which does not hide its hostility to the project. Main complaint: the countries financially "healthy" could only suffer through the European emissions, their solidarity with the countries most in need. In short, Germany does not want to take the weight of debts of some of the euro area.Note however that according to the draft presented by the Luxembourg Jean-Claude Juncker and the Italian Giulio Tremonles, advocates of the project, Eurobonds would not intended to replace the national debt.

Halt in mid-July

After being ignored for six months the project had been emerged from the closet in early July. But 15 days later, a new setback: Jens Weidmann, the head of the German central bank (Bundesbank) has criticized the project, saying that "there was nothing better to destroy a rapid and sustained strong making fiscal policy a common responsibility for the debts of States.This is exactly what some politicians and economists to offer Eurobonds to solve the problems of Greece. "

Whatever the conclusions of the report of the European Commission in September, the debate on the desirability of strengthening the political commitment at European level promises to be more agitated.

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The wiretapping scandal organized by the newspaper News of the World is experiencing a new twist. It seems that the phone Sara Payne, mother of an 8 year old girl abducted and murdered in July 2000 by a serial pedophile, has also been heard. The name of the mother appeared at least on the list of Detective Glenn Mulcair charged by the tabloid to listen to the voice mail of some of the 4000 victims alleged piracy of their phone line in the 2000s. It is not certain that the investigators were able to determine whether there had been an oversight and what could be nature.

What is certain, however, is that Sara Payne is not a single victim over. She had become very close to the weekly after the death of his daughter Sarah.As part of its combination of child protection, The Phoenix Chief Advocates, she collaborated with News of the World to obtain a review of British law on the pointing of sex offenders. The photo of her daughter and had served as part of a campaign known, conducted in cooperation with the Sunday newspaper, which has yielded the right of parents to be informed of the presence of pedophiles in their neighborhood. This legislation easing access to information on sex offenders has also been called "Sarah Law," a tribute to the girl.

"Sara Payne was a friend"

Sara Payne has been "devastated" by learning that she too may have been referred by his "friends" News of the World, said his association in a statement payday loan.The young woman feels betrayed, she was greeted in the latest issue of the tabloid, published in July, a newspaper that was not only a "force for good" but also an "old friend".

As editor of the press title between 2000 and 2003, Rebekah Brooks is at the heart of these new charges. "These allegations are particularly heinous and shocking in that Sara Payne is a very dear friend", has defended the former president of News International, the division of Murdoch manages the British titles. "The idea that anyone could log in that Sara and the team of the campaign was covered by Glenn Mulcair is unthinkable."

Rebekah Brooks has always denied any knowledge of the practices challenged in News of the World. A public inquiry into eavesdropping, conducted by an independent judge, was officially opened on Thursday in London.At the same time, it was learned Friday that James Murdoch, son of media magnate, was confirmed as head of the bunch UK BSkyB satellite channels. Severely shaken by tapping the case, the group Murdoch had yet been forced to withdraw in mid-July its offer to buy 61% stake in the company he does not already own.

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Lefigaro.fr – What conclusions can we draw from the first published results toMember United?

To date, 27% of companies in the S & P 500 have released their interim results, ie 135 companies and 75.6% of them have announced profits above expectations. We left for a good year. This week, the big banks (Bank of America, Citigroup Wells Fargo), were quite surprised in a good way, even if we remain cautious on the interpretation of their figures. Past two years, they have spent many provisions in their accounts, and use it sometimes to beautify their results today. Only Goldman Sachs really disappointed. By sector, energy, basic materials, and technology are doing so well, with respectively 40.3%, 45.3% and 13.7% increase in expected profits for the second half.Note that the consumer sector is basic to the sentence, with an expected fall in profits by 2.1% over the period.

How to explain this performance better than expected?

It has been two years since the publications of societies are generally above expectations. The restructuring made by the companies during the crisis are now bearing fruit. It is currently for companies in the S & P500 on levels of operating profitability of 15% … levels rarely reached. We must remain cautious because the potential for improving these margins is now limited. On the sales side, the expected increase for 2011 is 9%.

The second reason for these surprises is simpler. Analysts are sometimes influenced by the companies that encourage them to be very cautious in their forecasts.This is to avoid disappointment in the markets.

These publications are good they had a positive impact on the markets?

Yes. Google, for example, jumped 12% on the day of the announcement of results exceeding all expectations. The same goes for Apple. While some feared an impact on the financial problems of supply of components of the iPhone (from Japan), the group announced record profits. In the process, his title was up 4.5%. However, always put these results in a corporate market. In the first quarter 2011, the markets were at their highest, and the announcement by a company results in line with forecasts had very little impact its share price Payday Loan for Bad Credit.Today it's different, a confirmation of expectations or a nice surprise on a publication is much appreciated.

If the earnings season continues on the same trend, then markets could leave freely on the rise?

It's not that simple. The market impact of the debt crisis in Europe and the United States is very strong. We are actually in the eye of the storm with these macroeconomic issues, with a market that has stalled in May and operators who are positioned defensively. However, there is a real potential to rebound … as long as the market wants good focus on microeconomics. We are quite optimistic on this point because the next ten days, operators should see much more clear about the solutions in place for at least partially solve the problems of debt.In Europe, the solution to Greece has already restored air markets. And the United States, we can not stay on the current status quo for removing the ceiling on debt. Once this is clarified, the market will again focus on the prospects, and we could have a good August. Especially with a price / earnings ratio of 14.2, we are still 15 to 16% below the valuation levels of 2007, while corporate profits are 10% higher than they were at the time.

What are the sectors that should perform better in your opinion?

Technology stocks seem on track to rebound in the wake of good results from Microsoft, IBM or Intel.The good news in the industry are also positive for the energy sector, which could also rebound strongly, especially the coal industry, where mergers are again more frequent. More generally, there is a return of large transactions, which is another favorable factor for the markets rebound. This is the case for the acquisition was announced, the U.S. by Express Scripts Medco Health to $ 29.1 billion.

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Pessimism still dominates the Paris Stock Exchange on Monday. After a week complex, marked by a loss of almost 5% for the CAC 40, investors do not find the moral. The CAC 40 lost 1.2% in mid-session and falls under the 3700 points to 3680.20 points. The gap even widened to 16 hours with a decline of 2% to 3652.77 points. Meanwhile, the London Stock Exchange lost 0.81% to 5796.60 points and the DAX index of the Frankfurt Stock Exchange was down 0.94% to 7152.30 points.

The Asian market has not sent a clear signal this morning. Only U.S. markets manage to stay the course despite the many warnings about agency debt. In this regard, President Barack Obama issued an ultimatum to Congress on increasing the debt ceiling while Republicans are sticking to their positions.In Europe, the problems of sovereign debt will also be at the heart of discussions of heads of state on Thursday at a special summit meant to calm markets.

Meanwhile, next currency, the euro fell slightly against the greenback at 1.4046 dollars against 1.4156 dollars on Friday night. Gold, meanwhile, took advantage of the nervousness of investors to assert its status as a safe haven: an ounce on Monday has risen to 1600.10 dollars, linking 11 consecutive sessions of gains. The most since July 1980.

In terms of indicators, the day will be particularly quiet with only the index of the real estate market in the United States waited for the afternoon.The rest of the week will be richer with, among others, the German ZEW index (Tuesday), the U.S. existing home sales (Wednesday), the weekly jobless across the Atlantic (Thursday) and the confidence index Business in France (Friday).

Oil markets, oil prices were without direction. A barrel of "light sweet crude" for August delivery lost 9 cents to 97.15 dollars while that of Brent North Sea crude for September delivery took 22 cents to 117.48 dollars.

Bank stocks led the largest declines

By sector, the entire banking sector unscrewed, after publication of the study undigested JPMorgan Cazenove, which assessed the need for additional capital of European institutions on the basis of more stringent capital adequacy ratio payday advance lender.According to JPMorgan, BNP Paribas (-2.64% to 44.08 euros), Societe Generale (-4.81% to 33.03 euros) and Credit Agricole (-2.31% to 8.28 euros) should raise 20 billion euros, one quarter of the amount to raise in Europe. This study follows the results of stress tests of the European Union that French banks have yet passed. In turn, AXA (-3.60% to 13.13 euros) and Natixis (-1.98% to 3.07 euros) drop sharply.

For beyond this study, a European project to create a tax on banks to help Greece is under consideration, according to Die Welt. It concerns all European banks, whether or not active in the Greek market.

France Telecom: -0.36% to 13.72 euros

The operator plans to launch a bid for the fourth mobile operator in the Democratic Republic of Congo, Congo-China Telecom (CTC).The terms of any agreement, still being negotiated, would provide for the redemption of 51% of CTC held by the Chinese manufacturer ZTE telecom equipment, and 49% owned by the Congolese state.

ArcelorMittal: -1.15% to 22.40 euros

The group could respond to the study of the British consulting firm Meps specializes in the steel industry that China would underestimate production. Beijing would have produced 672 million tons of steel, half of the world, against 627 million tonnes officially announced.Meps suspects including small local mills continue to run ads despite the closure due to pollution problems and productivity.

Publicis: -1.13% to 36.86 euros

The group has obtained a syndicated multi-currency $ 1.2 billion.

Atari: -9.77% to 2.31 euros

The French publisher Atari video game released Monday sales down 36.1% to 9.2 million euros for the first quarter of fiscal year 2011/2012, he explained his shift to online games and mobile.

As for publications, Edenred deliver its sales in the first half after market. Guyenne et Gascogne announce its second quarter earnings as Audika.

Among the threats to U.S. debt and the beginnings of a sovereign contagion in Europe, investors await first the responses of States to end the unbearable uncertainty. Therefore, the announcement of the holding of an EU summit Thursday and the speed with which Italy passed an austerity plan of 47 billion euros should focus the attention of operators.

By construction, the stress tests conducted by the EBA (EBA) based in London could only disappoint. While the market test, to gauge moves in risk premiums and other diving banking stocks, the scenario of a collapse of the euro, the banking supervisor did not have policy space to go very far this path.Therefore, the 11.5 billion euros of writedowns of sovereign debt simulated by 90 banks under scrutiny seem meager 194 billion against their commitments on debt accumulated state of Greece, the Ireland and Portugal. Not to mention Spain or Italy. By this standard, too, the 2.5 billion euro recapitalization needs highlighted Friday for the European banking sector border on the ridiculous.

Analysts at Credit Suisse quickly corrected this and submitted sovereign exposures of banks, published an exhaustive Friday, at their own assumptions discounts: 50% Greece, 35% Ireland, 30% Portugal, 10% on Spain and 5% on Italy.These calculations on a small sample of 49 banks show 45 billion euros of capital inadequacy! But – and this is reassuring – the "holes" always concern the banks of the countries in oxygen tent. Domestic banks in Greece, Ireland and Portugal are, in fact, between 61 and 67% of the loans of their country of origin.

Two "Lehman year"

If the credibility of the EU suffers from a fiscal laxity apparent on the front of the State debts, however it is particularly harsh on other aspects. Cumulative, testing the assumptions made in simulating the equivalent of two years similar to 2009, the post-Lehman, cost banks some 400 billion euros of provisions, plus 352 billion of additional costs of refinancing.

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The board of the International Monetary Fund (IMF) met Friday in Washington, approved, as expected, the release of a new tranche of 3.2 billion euros for Greece.

It is in addition to 8.7 billion euros released a week ago by the European Union. This round of 12 billion euros is the fifth of the rescue plan 110 billion approved last year. It should enable the country to repay much of its debt maturing July 15 (EUR 2.4 billion to good six months) and 22 July (2 billion euros good for three months).

But Greece, the public debt (354.5 billion euros at end March) shook up the United States, is not out of the rut.Athens calls for a hue and cry a second bailout, a value equivalent to the first, or 110 billion euros, for which the Europeans require the participation of the private sector. A meeting of the Eurogroup in Brussels next Monday, followed by a council of finance ministers the following day was supposed to define its contours. But it will not succeed, as the differences remain significant even within the Union. At best, a decision is expected in mid-September, confirmed the new Greek Finance Minister, Evangelos Venizelos.

Taboo

For many scholars, starting with the rating agencies as criticized in recent days, the private sector's contribution to the recovery plan would resemble a Greek default, since creditors will not get their refunds in time and hour.A nightmare scenario that Europeans seek to avoid at all costs. Without having yet found the parade.

And meanwhile, some still waving the event of a release of the euro area. An expert in Brussels who had requested a report before he leaves office, a judge at the end of the decade "there may well still have 17 members, but the question is whether this will be the same that 'today. "

The subject is taboo, but if Greece were to be found in default, many experts believe that the only way to redress the country's economy would be a devaluation, and thus an exit from the euro. This had been done in Argentina in 2002, winning its currency, the peso, the U.S. dollar.

The gas is in talks to take over the assets of the U.S. company Duke Energy in Latin America, according to the Brazilian business newspaper Valor Economico.

Areva. The nuclear group should ally with the Spanish Iberdrola Renewables on two of the five areas of the tender for offshore wind launched by the state, according to Les Echos.

Ipsos. The British advertising group Aegis said to be in exclusive talks with the institute of studies and surveys for the sale of its subsidiary Synovate market research cheapest personal loan rates.

Havas. In an interview with Echo, the executive director of the group will develop two commercial microarray in the world, one around his BETC teaches French and the other around Arnold, a Boston-based agency

After the close of trading, EuropaCorp will release its results for the year 2010-2011.

Five days before the end of the selection process for the leadership of the International Monetary Fund (IMF), supports the two candidates, Christine Lagarde, French and Mexican Augustin Carstens, continue to occur. That night, it was Canada and Australia have shown their preference for the Mexican. "Past experience of the IMF Agustin Carstens, coupled with his achievements as Finance Minister of Mexico and his current position as governor of the Mexican Central Bank, the very well prepared to understand and address the challenges facing the global economy, 'the two countries in a brief statement.

Still, while Germany shows loud and clear preference for the French candidate, the support of both countries to Carstens appears more timid.Australia and Canada underline the very strong indeed credibility of both candidates and their "weapons" to ensure the legitimacy of the IMF. This commitment shy, Mexico seems to reap the benefits of an intense lobbying. June 7, after a meeting in Ottawa with Canadian Finance Minister Jim Flaherty and the boss of the Bank of Canada, Mark Carney, Augustin Carstens had already revealed that the country would welcome a new head of the IMF International from an emerging economy. This is now confirmed. Besides these two new support, the Mexican has the support of a dozen South American countries.

For Nicolas Sarkozy, has already achieved success

This joint statement does not seem to really change the forces.Canada is indeed at the head of a constituency (group of countries) representing only 3.61% of the votes in the institution. The only real surprise, Ottawa will generally be the position of its U.S. neighbor … who, in turn, always reserves his choice.

The latest statements by Timothy Geithner, however, argue for a broad preference for the French bid. Through a spokesman, U.S. Secretary of the Treasury has in fact hired Thursday, "strong leadership skills and experience of the Minister," making it a candidate "exceptionally competent" for the position Executive Director. If the United States confirmed this view, Christine Lagarde, who already has the support of Europe (almost one third of the votes on the Executive Board of the IMF), garnering 16.8% of extra votes.French side, the case is already bent to Nicolas Sarkozy, who is already winning his Economy Minister, before the final decision expected by June 30: "A woman at the IMF, is history! And that's us! "The president reportedly said according to remarks reported by Le Parisien.

Finally, the French enjoy today to the disunity of the emerging countries, the so-called BRICS (Brazil, Russia, India, China and South Africa). Faced with their indecision, Carstens strategy to present himself as the candidate of developing countries, seems to have a hard time fly. Especially since his whole campaign, and during his oral exam Thursday at the IMF, Christine Lagarde has repeatedly hammered his desire to ensure, if elected, more representative of emerging countries in the institution .

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