Business World |

The biggest shop shows the world may soon see the day in Paris. The luxury group Richemont actively preparing to open a palace watches of 2250 square meters on two floors, which would be represented as 60 brands ranging from entry level to luxury. This store may be substituted for the brand Old England, old shop of the 19th century, strategically located between the Opera and the Boulevard Haussmann in the heart of the capital. According to the website dedicated businessmontres.com, Richemont should benefit from the commercial end of the lease granted to the current property owner to get their hands on the site. Neither the luxury group, nor the SFL, owner of the walls has to comment that "rumor".

Sources close to the discussions say, however, that the real estate transaction is scheduled for over a year.Richemont has even approached the great names in luxury and watch as LVMH, Swatch and Rolex to tell them about the operation. If the participation of the latter to the final draft to be confirmed, Richemont has already convinced major retailers such as Audemars Piguet Breitling or to be part of.

The Swiss group is currently in discussions with Bucherer, another big name in the jewelry and luxury watches, in order to leave the management of this huge store. Few in France, it has been favored by Richemont because of its extensive experience in managing multi-brand stores. In addition to his label, Bucherer has a network of 15 stores which are marketed brands Rolex, Piaget, TAG Heuer, or Longines. It also has other stores in Austria and Germany.

Cover the whole of France fiber cost about 21 billion euros over 15 years, said Jean-Ludovic Silicani, president of the controller facing the elite of the telecom sector together like every year for the conference in Montpellier DigiWorld Institute (formerly Idate).

On this vast project that will allow access to French high-speed Internet, nearly 2 billion have already been invested, mainly in large cities, where operators are deploying all their network. In medium-sized cities and towns of big cities, they decided to invest to be faster and more efficient.

After an initial agreement between France Telecom and Free in the summer of 1300 entered into common units and 5 million, France Telecom and SFR in turn forged an agreement this week with him, in 3500 and 11 million common units.Result, 60% of French households can receive high-speed Internet by 2020. The dynamics is committed throughout the territory. The penetration takes off. France recorded the first half of the fastest growing in Europe in absolute terms, the number of subscriptions very high speed (87 300), as the DigiWorld Institute.

Finally down. After rising continuously for two years, property prices in France fell 2.7% in the third quarter. An observation made by Century 21, one of the largest networks of estate agents. Attention, the phenomenon is not felt the same way everywhere.

The price per square meter have ebbed in seven regions, only one out of three. The most dramatic decline (-9.7%) occurred in Burgundy. Overall, the square meter reached 2621 euros on average in the Hexagon. This downward trend for most homes (-4%) than apartments (-0.8%). "This illustrates a trend that is not new, said Laurent Vimont, CEO of Century 21.Not to be too far from their workplaces, are the buyers prefer to live in inner cities where there are more apartments in suburbs where the houses are built. "

Contrary to what one might imagine, the ups and downs of the stock market and the threat of recession do not even buyers of housing. The decline in prices has a much more immediate cause: rising interest rates on home loans now in the neighborhood of 3.9%. "In recent months, buyers have lost purchasing power of real estate, says Laurent Vimont. In the second half of 2010, paying 1,000 euros a month for twenty years, they could borrow 172,400 euros.Today, with the same reimbursement for the same period, they can not borrow 160,800 Euros. "This increase in interest rates has an impact because in France, on average, 77% of the purchase of a property is financed with a mortgage.

But everybody does not suffer the same way that rising interest rates. Most affected are first-time buyers under 40 years, the number has dropped by 18%. But also the CSP (occupational categories) the least favored: the employees and workers down 17% or middle managers decreased by 12% among the buyers.

The optimism was tinged with a slight caution. After Tuesday's rebound, which saw the Nikkei finished up sharply from 2.82%, Asian stock markets continued their upward trend, but less strongly than the day before. After opening up 0.15%, the index shows Tokyo, less than an hour from the close, up 0.29% to 8635.23 points. The Korean KOSPI ahead of his side of 0.47% and the composite index of Shanghai Stock Exchange of 0.18%. Only the Hang Seng in Hong Kong, which opened down 1.42%, remains in the red, down 0.90% to 17,967.30 points. Wednesday, he had won more than 4%.

As on Wall Street where the Dow Jones ended up on 1.33% and Europe, where the CAC surged 5.74%, Asian investors have earned by renewed optimism on the resolution of the crisis debt in the eurozone.According to various sources, Europeans should indeed decide to stabilize Greece and the banking sector business cards. Strengthening the emergency fund indebted countries (EFSF) was particularly mentioned.

The yen also paused in its upward trend against the dollar, which has benefited some export values, especially in electronics and automotive. The dollar is changing around 76.54 yen while the euro is worth about 103.81 yen. As for the oil markets, a barrel of "light sweet crude" for November delivery lost 1.25 dollars to 83.20 dollars in early electronic trading. A barrel of Brent North Sea crude for November delivery gave 96 cents to 106.18 dollars.The previous day, oil had spread over 4 dollars in New York.

ALSO READ:

"Rescue of the euro: Paris ready to go further

"Week crucial for Greece

The timing could not be worse for Levi's. The king of denim, which had just launched its new global campaign "Levi's Legacy" earlier this week, was forced to turn back to the UK market. The spot, shot in Berlin before the events in London, reveals, in fact, scenes of young people in clashes with security forces. Demonstrations, riots, smoke: the images are too echoed the news, depending on the brand:

Called "Go Forth" (On the Move in French), signed by the advertising agency Wieden + Kennedy American, calls young people to take their destiny. The message is reinforced by the recitation of a poem by Charles Bukowski, The Laughing Heart, to the very explicit (your life is your life / do not be discouraged by a tender moist / Be on the lookout)."Because of what's happening in the UK, we have temporarily postponed the release in cinemas and on Facebook in the country," said a spokesperson for the brand with the Daily Mail. He added that "Go Forth to embody the energy and events of our time. She does not speak of a political movement or a specific theme, but rather evokes optimism, positivism and the entrepreneurial spirit. "

The spot has also been removed from the official Facebook page for the brand. "We have all witnessed the recent events that took place in London and other cities in England. It is difficult to see a glimmer of hope amid the violence. But looking good, you will see it no fax payday loan. Not one of the riots and chaos. But through its citizens who take the broom to clean up their cities. It is through their pioneering spirit that make change possible, "says Levi's on Facebook.

Stunt involuntary RIM

Even if the manufacturer of jeans trying to detach events, riots in London have a real spotlight on its new advertising campaign. A promotion that seems to also affect involuntary RIM, the maker of BlackBerry. His e-mail service that equips its phones BBM, known to provide a guarantee of confidentiality of trade, is under the spotlight. Now it plays an important role in organizing the riots. The British press also devotes a large part in deciphering the events.

But this stunt could serve the image of RIM on the UK market.Already some voices calling for the closure of the service in England, prompting the direction of the Canadian manufacturer to announce, without further detail, cooperation "with local telecom operators, the police and government" of the country if so requested.

This collaboration could involve the closure of the service. The risk is important for the Canadian manufacturer that could alienate her young local clientele. According to a study released last week Ofcom, the BlackBerry is currently the favorite of the English smartphones of 16-24 years (37%) to the iPhone (25%).

ALSO READ:

"The hunt has been launched on the Internet thugs

The speech Barack Obama optimistic about economic prospects was not enough to lighten the mood in the U.S. markets. In the aftermath of a black session, Wall Street closed Friday on a very hesitant, after playing roller coaster the entire session. The Dow Jones gained 0.54% to 11,444.61 points but the S & P lost 0.06% to 1199.39 points and the Nasdaq drops 0.94% to 2532.41 points.

The fence marks the end of the worst weekly meeting signed by the S & P 500 over two years. For the week, the Dow has sold 5.8%, the S & P 500 -7.2% -8.1% and the Nasdaq. Obama does not reassure

The announcement of a significant improvement in job creation last month has not calmed the spirits. Publications disappointing state of the U.S. economy had yet chained, challenging the idea of ​​resumption of the first global economy.This publication confirms the figures released Wednesday by ADP, reports of more new jobs than expected for the month of July.

U.S. markets also hesitant despite market rumors to the effect that the European Central Bank is ready to support the Italian and Spanish bonds, if these countries to undergo structural reforms.

Moreover, operators have learned that Americans use to consumer credit rose in June at a pace not seen since the recession began, according to figures released Friday by the central bank (Fed) of the United States.The outstanding amount of these loans has jumped on this month of 7.7% annual rate over the previous month, the biggest increase since August 2007, reaching 2,446.1 billion.

Oil pulls himself together

After a slight increase at the opening, oil prices find their way back down to 18 hours, Paris time. After working in the Russian mountains on the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for delivery in September was finally completed in 86.88 dollars, up 25 cents from the previous day

The reassuring news, from Europe have traced the course of the euro by 1.25%. The euro traded at $ 1.43 against the greenback to 19 pm Paris time.

AIG, GM and Procter & Gamble publish their accounts

On the corporate side, the semi-annual publications still dominate the news on Friday.

For the second straight session, the group Kraft (3.21% to 34.87 dollars), which has split its U.S. branch of its activities snacking, remain top of the list of the stock market.

Thursday evening after market, the insurer AIG (-4.96% to 25.09 dollars) announced a return to the green of its accounts in the second quarter, with net earnings of $ 1.84 billion over the period, against a loss of $ 2.7 billion a year earlier. Per share, net income totaled $ 1 ($ 0.69 after tax, against $ 0.92 expected by analysts).

At the same time, and its first quarterly since its IPO on May 19, LinkedIn (-4.85% to 90.89 dollars) was positively surprised markets by announcing a turnover more than doubled the second quarter to 121 million dollars (120 euros) and net profit (4.5 million), where analysts expected a loss.

General Motors (GM) (1.23% to 26.31 dollars) Thursday reported quarterly results exceeded expectations, with a near doubling of profits over the period.

Procter & Gamble (1.71% to 60.60 dollars) released before market on Friday for the fourth quarter of fiscal offset, net income up 15% to $ 2.51 billion.Of 2010-2011, so it shows a net profit of 11.79 Annual Statement billion, down 7% from the previous year.

Viacom (0.97% to 51.85 dollars), the parent company of MTV and Comedy Central, has reported a rise than expected in earnings thanks to strong revenue growth in advertising Cable and license agreements with websites. Its quarterly results (Q3) increased to $ 574 million against 432 million

Bank of America (-7.76% to 8.15 dollars) is highly exposed to the most fragile countries in the euro zone, according to a document from the bank. The group said exposure to the tune of $ 16.7 billion (11.8 billion euros) in total to Greece, Ireland, Italy, Portugal and Spain in June 30Management has indicated in a document submitted to the regulatory authorities that its losses could reach up to legal $ 2.3 billion in addition to the provisions already passed for this purpose.

LE FIGARO. -The markets are highly concerned in recent weeks of debt crises. In this context, the economy has not she also helped to disrupt?

Jean-Michel SIX. -If, of course. And we must start by saying that in times of summer holidays, the markets, which were then much lower volumes, overreact to any new economic situation. The lower the index is up or dive in a much more important than what happens in winter.

Right now, they are rather dive …

For several months, both sides of the Atlantic, the signals on growth are not good. United States, including employment prospects are very disappointing. In fact, employment is not really left since the 2008 financial crisis.Labor mobility is limited due to the housing crisis: moving to take a new position, which is much the United States, is difficult because it becomes difficult to sell his house. As for household consumption, it is significantly weakened by the debt levels of Americans. A total of 2011 should result in a 2% growth, which is very disappointing for the U.S., where the pace of activity is generally much higher than in Europe.

Europe, precisely, is it in a perilous situation?

The problem of Europe is the growing divergence between North and South. This is something that worries the markets, which are asking what does that mean in terms of consistency of the euro area.Then, after a strong first quarter, it was believed that the air hole is the second passenger (once the effects of the earthquake in Japan absorbed and oil back to lower levels). But we realize that the sequence is also likely to be poor Payday advance.

Markets can they regain composure?

It is quite possible to restore calm in September thanks to coordinated action. What happened in July is that we have simultaneously witnessed a loss of U.S. leadership, unable to break the deadlock of debt and a crisis of leadership in Europe in a context crisis on public finances. This is exactly the opposite which would have required!

So how about it?

First, we must continue the work on European Governance. This is critical. Second, the timing of implementation of the second plan is important for Greece.The European Financial Stability Fund will be endowed with significant firepower, which is to say the least-welcome, but there is some impatience markets. It is important not to drag the national parliaments to adopt the device. The political signal must come quickly. Finally, the ECB has played its role, it must continue to appear reassuring.

That's what she tried to Thursday …

The measures announced by President Trichet, in particular the resumption of purchases by the ECB on secondary markets, are extremely positive.

Investors do they always trust in the euro area?

Yes. Investor confidence, especially in emerging countries has not disappeared. She even remained strong, as evidenced by the excellent performance of the euro since the beginning of the crisis.The euro zone faces a crisis of governance, not a crisis of its currency.

ALSO READ:

"Panicked, Europe stock market tumbles at the end

"The ECB tries in vain to be a firefighter in the euro area

Christine Lagarde, Minister of Economy, candidate to succeed Dominique Strauss-Kahn to the IMF, is also his campaign on the net, via Twitter. "Follow my campaign for the-post of Managing Director of the IMF," she writes in the introduction to his account @ lagarde_imf.

For now, 243 "followers" can thus keep track of time use of French. A figure that is expected soon to increase, most ministers have a twitter account is followed by several thousand people. Since last Wednesday, his account has been opened just before formalizing his candidacy – the Minister has published 46 twits (short message) alternating French and English payday loans. We learn as she lunched today with Brazilian Finance Minister Guido Mantega and with the Governor of the Central Bank of Brazil, Alexandre Tombini.

Sunday during the broadcast of Jean-Pierre Elkabach on Europe 1 – during which the atmosphere was "studious," says a post – al least not twittered about ten times to keep fans informed.

Christine Lagarde also take this new kind of forum to defend the matter Tapie "arbitration was the least bad solution to put an end to Tapie affair," she wrote this weekend.

The minister listed a dozen groups, but for now, she does not follow any …

This had not happened for a month. The CAC 40 closed on Monday below 4000 points, among others penalized by bank stocks. Investors worried about a new crisis on the debt of the euro area after the arrest of the International Monetary Fund boss Dominique Strauss-Kahn.

Futures on the CAC 40 fell by 0.62% to 3965 points.

Monday night, Wall Street has ended the session down in response to the publication of indicators revealing the fragility of U.S. recovery.

The Euro continues Tuesday

In the absence of corporate results announcements, the index will evolve with ads that will be made following the meeting of EU finance ministers to discuss particular mechanisms of financial aid in the euro area. On the issue of Greece's debt, the Europeans are divided.Bank stocks will be well to follow, they have lost an average of 1% on Monday.

On the macroeconomic front, the new car registrations in the European Union fell 2.7% annual rate over the months from January to April, according to figures released Tuesday by the European Automobile Manufacturers Association (Acea).

United States, are scheduled starts of dwellings in April (14.30) and industrial production in April (15.15).

On the currency markets, the euro rose slightly against the dollar, from 0.16% to 1.4183 dollar.

Energy stocks under pressure

On the corporate side, investors will be interested in energy stocks that should suffer from the decline in commodity prices.

Bouygues raised slightly on Monday its goal of annual sales after a first quarter marked by a rebound in activity but penalized at the net contribution by Alstom.

Vivendi announced Monday it had obtained signed with a syndicate of 17 banks a new line of credit totaling € 5 billion that will allow it to optimize the management of its bank debt at the time of the acquisition of the 44 % of SFR held by Vodafone.

Publicis buys U.S. digital marketing agency Rosetta for at least $ 575 million – the agreement provides that an additional payment may be made in 2014 to Rosetta in the case of good performance over the period 2011-2013.

Carrefour wants IPO for its real estate assets

During its Investor Day being held in Paris from 9:15 Carrefour will confirm its intention to IPO for its real estate assets, Carrefour Property.The group, which confirmed target growth in turnover and operating profit this year, said the demerger of its business Dia discount stores, whose IPO is scheduled for July 5, will be in the shape of the distribution of a dividend.

Gecina announced Monday that it planned to file a proposed buyout offer followed by a squeeze on the shares of its subsidiary Gecimed, a property company dedicated exclusively to the medical real estate which it owns 98.6% of capital .

On Wall Street last week, the Standard & Poor's 500 was royally awarded 1.96%, returning to a new level since June 2008. It closed Friday at 1369.61 points, rising 2.8% in April and 8.4% since the beginning of the year. The reassuring words of the President of the Federal Reserve, but also publications of the first quarter results of companies in the S & P 500 led him to move forward.

Indeed, over 324 companies over 500 have already published their results. And this statement is, at present, encouraging, "announced 74% earnings per share above expectations and 75% beat analysts' expectations on their turnover," says Christian Parisot at Aurel BGC. Only 62% of companies in the S & P Announce generally better than expected results payday loans.

In terms of forecasts, the discourse remains cautious.For the second quarter, 38 companies have lowered their projections of results and only 23 have reported. For 2011, however, 59% of predictions are reported. Among the heavyweights of Wall Street, have yet to announce their results, Pfizer (Tuesday), Time Warner, Electronic Arts (Wednesday). And the same day, Kellogg, Kraft Foods and Sara before Lee (Thursday). Three publications expected with a touch of apprehension, the margins could suffer from rising prices of food commodities, as food industry giants had trouble in pass prices.