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Estoppel to potential buyers of SeaFrance. The Commercial Court of Paris on Monday gave the liquidation of the French company SeaFrance ferries in the Channel, but now the activity until January 28, 2012. The court found that the two takeover bids submitted by Louis Dreyfus Armateurs (LDA), associated with the Danish DFDS group, and the CFDT union in the enterprise, were not satisfactory as it stands. However, he left the door open for the submission of new offers before December 12.

SeaFrance employs 880 permanent employees and 200 CDD, according seasons. The plan proposed by the LDA-tandem DFDS provided for the protection of 460 FTE jobs, maintaining SeaFrance under the French flag, the recovery of three ships 5 million and an investment of 50 million for repairs to boats guaranteed approval cash loans.The Scop defended by the CFDT plans to retain all CDI but he lacked the funds needed to boost activity.

Risk of "social conflict" and funding "nonexistent"

In its ruling, the court held that the supply of Dreyfus, associated with the Danish DFDS ferries group, provided many job losses and that "there are (VAIT) is a risk of serious social conflict." He also found the price offered for the recovery of ships too low and suggested that this recovery could pose competition concerns.

After a marathon day yesterday crisis between the euro area and global economic issues, the G20 continues this Friday at Cannes. Nicolas Sarkozy, master of ceremonies, will have his hands between preparations for the final communiqué and placed under international trusteeship of Italy instant payday loan.

"Reliving the day Thursday

Debt crisis: the hope of a European agreement yet repelled

The first pieces seem certainly find their place. But the puzzle is far from complete. The Europeans have agreed on strengthening the capital of their banks, with a budget of up to 100 billion euros. Nicolas Sarkozy was also close to Angela Merkel on the future arsenal EFSF, after a frank discussion in Frankfurt. But there is so much more to do before finding a complete agreement, most detailed and validated by the whole euro area. That is why the French President and German Chancellor confirmed on Thursday night, the sounds that had run all day: a second summit of Heads of State and Government held "no later than Wednesday," after that of Sunday. In addition, Sarkozy and Merkel will meet on Saturday night in Brussels to prepare its crucial deadlines.This new adjustment schedule confirms that markets foresee that this time, European leaders are no longer allowed to make mistakes. The first tangible plans must begin to blur out that night, after a first closed session of the seventeen ministers of finance of the euro.

Recapitalization of banks

In the preamble, the bloc cleared the table of a bulky dossier. They agreed on the recapitalization of banks weakened by the crisis, two months after the IMF has sounded the alarm. The bill, estimated at between 85 and 100 billion euros, less burdensome previously announced. It should allow banks to increase to 9% of their capital ratio "hard" a recognized strength. To achieve this, banks will first use their private shareholders, and if necessary of public funds bad credit payday advance. The EFSF intervene as a last and final resort.Uncertainty remains about the date of implementation, 2012 or 2013.

On Thursday, Paris and Berlin have also tried to dispel the misunderstanding about the previous meeting on Wednesday between the President and the Chancellor. The stakes: the future modalities of action of EFSF and the famous "leverage" critical piece of the arsenal to stop the European debt crisis and prevent contagion.

The German Finance Minister Wolfgang Schäuble ensures that the two capitals are in fact "in total agreement." But he hastens to add that there is still no agreement at European level. French side, it was confirmed by noting that if there is a discrepancy, it is rather with Spain and especially Italy.In Brussels, witnesses of the appointment of Frankfurt continues to describe "a cold atmosphere" between Nicolas Sarkozy and Angela Merkel, barely warmed by the announcement of the birth of the president's daughter.

To further complicate the picture, the Greek press spoke of a setback yesterday on what promised to be the easiest section of the summit: the release and payment of EUR 8 billion international loan in Athens. The European Union grows. But the IMF question the ability of Greece to address its long-term debt without the involvement of Europeans more convincing.

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The United States, the first market for L'Oreal

The future of L'Oréal does not rely only on the lips of Chinese, Indian hair and skin of the Brazilian. To continue to grow, the world leader in cosmetics is also focusing on the United States, its largest market, where it generates 20% of its global sales.

It has set a goal of doubling within ten to fifteen years, the number of consumers worldwide, reaching 2 billion. "The United States will be the third largest contributor of new customers, behind China and India, but ahead of Brazil and Pakistan, provides Rozé Frederick, head of L'Oréal States. This will be the only mature market among the top ten contributors. "

L'Oréal already has 160 million consumers in the United States and would like to win 70 million more, to achieve 1.6 billion euros in annual sales by an additional ten to fifteen years."These additional sales will be higher than those from China," according to Frederic Rozé. Loréalienne this ambition "is not an official target, said cautiously Jean-Paul Agon, CEO of the group. Rather, it is a dream. But dreams are important in business. " L'Oréal United States, the 10,500 employees are mobilized to turn this "dream" into reality. And benefit from the successful relaunch of the subsidiary. After two years of decline, its sales went back up 6.1% last year, reaching 4.779 billion dollars, a record.

The scope for growth remains high online pay day loans. While the market share of L'Oréal approach 20% in Europe, it is only 13.1% in the U.S., where the group is preceded by Procter & Gamble (Pantene, Olay, SK II, Cover Girl , Gucci …).Its leaders would like to double it.

Men and seduced the Hispanic community

L'Oreal teams have identified specific categories of population potential, age, gender and income. If 78% of women are consumers of L'Oréal in the United States, one in two Americans do not consume products home.

The group will particularly try to win men and women of the Hispanic community. It also relies on a sales growth in product categories where it is still low. Its market share is 53% of color and 35% on makeup, but only 11% in shampoos and 17% in skin care. To continue to grow overseas, L'Oreal has its U.S. brands (Maybelline, Redken, Ralph Lauren, Kiehl's …), which represent 20% of its worldwide turnover … but 35% in the United States.

The group could also carry out acquisitions. Last year, he bought Essie, a small brand of nail polish, so far mainly distributed in shops manicure. "Since we sell in supermarkets, U.S. sales have tripled, provides Damien Bertrand, head of global brand. Our market share reached 10% after a few months. "Essie will land soon in France at Monoprix.

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"L'Oreal accused of false advertising in the UK

Investing in a student residence

For two years, investment in student residence has regained color, thanks to the encouragement of the state. But this should not last because the draft budget law for 2012 provides the tax benefit to plane provided by the device Censi-Bouvard. 18% today, the tax reduction will be reduced to 12% next year. A bad blow to student housing. "We feel the need for housing to 250,000 and this measure goes against the will displayed by the government to double the park students, said Philippe Josse, General Manager at Bouygues Immobilier France accommodation. It seems desirable to distinguish between corporate residences, tourism, nursing homes and students and to encourage investment in priority. "Meanwhile, Jean-Philippe Bourgade, CEO of Bouwfonds Marignan, remains serene."We must not dramatize and expect a decline in business because, anyway, it will be built to meet the needs, he says, the market is healthy to five years. We have done an excellent year in 2010 and 2011 should also be a good year, especially as sales are accelerating. "It is a fact, like last year, investors expect the decline in tax cuts .

Those interested now they still have time to buy and enjoy the scheme Censi Bouvard-current? "Of course, exclaims Jean-Philippe Bourgade, the offer still exists," It is also necessary to achieve the sale by the end of the year. "Considering that the deed of sale requires time and a half months, investors have until mid-November to engage," says Philippe Josse.If the investor has the status of renting dwellings unprofessional (Leaseback), the device will be Bouvard Censi-acquired and will give him until 31 December, a tax reduction of 18% on the amount of its investment (HT), reduction spread over nine years, subject to a ceiling of 300,000 euros. Since the signing of a commercial lease, the investor is also entitled to recover the VAT at 19.6%. Provided he keeps his property for twenty years. Otherwise, the IRS will not hesitate to claim his due in proportion to the missing years.

Nevertheless, this type of investment must be carefully considered.For if it can reap tax savings, it also implies constraints.

Investing in a student residence is to buy a home in a building designed for student life, with only small areas (studio, 2 rooms maximum) and provided with services to facilitate the lives of occupants: reception, cafeteria, laundry room study, recreational areas … The entrance ticket is modest, about 80,000 to 100,000 euros for a studio from 18 to 20 m².

The investor undertakes commercial lease of at least nine years to rent a well furnished and to entrust the management to the operator of the residence which will then sublet the property and rental income to pay the investor.Care must be taken when the load distribution and quality of the operator.

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Apple resists the action notwithstanding the death of Steve Jobs

"The news of my death are greatly exaggerated," joked Steve Jobs when Bloomberg had his obituary published in error in August 2008. Nevertheless: the stock market, Apple had lost the title on the day 2.42%.

Announced tonight the death of the charismatic leader will Apple does the same concerns in the markets? It is no surprise to Apple's shareholders. The charismatic leader had prepared his departure, giving the reins of his company to Tim Cook. But his death marks indeed the end of an era for the firm at the apple.

Thursday morning, investors still seem uncertain: New York, the title is almost stable at the opening to 377 dollars (-0.33%). But in Frankfurt, where the action is also listed, the decline is more pronounced: just after 12 o'clock, the title loses 2.75% to 272.51 euros after touching a low of 270.50 euros.

The title after the stand 4S iPhone

Steve Jobs as a CEO was not like the others. Associated with the image of the company he co-founded, he was also in stock bad credit personal loan lenders. Apple has become the first in the world market capitalization, elbow to elbow with Exxon Mobil.

As Steve Jobs made Apple, Steve Jobs's health was reflected in the title. Suffering from cancer since 2004, the group leader had to leave several times, until he left there just over a month, on August 25. Each announcement related to his health problems, the markets feared for the future of the group and the title suffered large fluctuations.

Two days ago, the title fell by 5% during the session along with the presentation of the 4S iPhone. The latest version of Apple's flagship phone, slightly different from the previous one, was disappointed the markets, hoping to iPhone 5.But the title was returned to the balance at the end of the session and finished on a moderate loss of 0.56% to 372.50 dollars. Sign that investors want to believe in the capacity of Tim Cook to keep the group at the top.

Slight improvement in the morale of cadres

After an unprecedented drop in September (-30 points), who dropped to its lowest historical, the composite index of moral frameworks in October recorded a very slight improvement (4 points, -51) . This is reflected in the latest wave of eco-Baro Viavoice for HEC, Le Figaro and France Inter. "After a very bad score in September, but rather the beginnings of a correction than a real improvement in the bottom," said François Miquet-Marty, president of Viavoice.

At the macroeconomic level, white-collar workers remain pessimistic.Seven in ten think that the standard of living in France "degrade" in a year and almost eight out of ten (77%) and unemployment "increase" in the coming months.

Vicious circle

These concerns are largely fueled by doubts about "the ability of France to reduce its deficits" (47%) and the anticipation of the impact "of austerity on growth" (39%). "The magnitude of the deficits may impose stronger discipline, which could restrain growth and thereby compromising deficit reduction," the president of Viavoice analysis. For managers, this vicious circle, deficits, rigor, decay, now appears more menacing that "commodity prices" (28%), "the future of the euro" (22%) or "the changes in stock prices "(16%).

Amid this gloomy picture, however, some glimmers of hope.If the problems banks are now in the news, the difficulty for companies to find financing worries only 18% of managers. Then they are less likely to feel that their financial situation "will deteriorate" (44%, down 4 points) and almost as many think that it "will remain stationary" (43%, six points). Their employees are more motivated (36%, +4 points).

As for opportunities for a career, if they are deemed "weak" by an overwhelming majority of executives (79%), the percentage of those who disagree (17%) improved by 4 points. Finally, the question "do you think Greece should leave it to devalue the euro?", A framework of two answers "no" and nearly one in three "yes."

Optimism in the Paris Bourse

Monday's rebound continues Tuesday in the Paris Bourse. The CAC 40 has started on a flying then accelerated pace. Mid-session, he climbed 3.55% to 2960 points. Elsewhere in Europe, the Frankfurt Stock Exchange is 3.36%, London and Milan 2.22% 2.79% while the pan-European Euro Stoxx 50 index 3.09% wins.

Since the beginning of the week, investors won over by a wave of optimism about the outcome of the debt crisis in the eurozone. The spokesperson of European Commissioner for Economic Affairs Olli Rehn Olli Rehn, Europe is considering strengthening the capacity of the European support fund for countries in trouble (EFSF). Rumors press also reported a proposed quadrupling of the Fund's lending capacity to 2000 billion euros. In turn, an official of the ECB, the Austrian Ewald Nowotny, did not rule out declines in interest rates in the euro area.But soon, the German Finance Minister Wolfgang Schäuble said that Europeans had "no intention of bailing out" the EFSF.

The Spanish Minister of Economy Elena Salgado also said Tuesday that an increase of two thousand billion euros in the capacity of the European Support Fund "was not on the table." Political leaders are clearly divided on the concrete responses to the debt crisis, while discussions on the payment of a new international loan to Greece, vital to enable it to avoid bankruptcy dragged on. At the same time discontent rises and Athens was again paralyzed Tuesday by a wave of strikes in public transport.

More good news, the constraint on bank lending is beginning to loosen.The private sector credit grew by 2.6% year on year in August in the euro zone, against 2.4% in July. Loans to households grew by 3% in August, while consumer loans to individuals have declined only 1.6% against 2% last month according to figures released Tuesday by the European Central Bank (ECB) . Moreover, housing starts for new homes in France, climbing 8.1% year on year for the period from June to August. However, they mark a slowdown from earlier this year: the pace of growth in the first quarter was still 35.5%. The number of building permits for new homes has increased its share by 9.8% year on year for the same period.

The euro was weakening on Tuesday to below $ 1.35. At midday, the euro stood at 1.3496 dollars, against 1.3523 dollars late Monday.He had fallen in session Monday to 1 paydayloans.3363 dollars, its lowest level since mid-January, prior to recover. As for commodities, gold has recovered slightly this morning at 1640 dollars an ounce after declining over the last three sessions.

Values ​​follow:

The banking sector is driven by rumors of recapitalization.BNP Paribas advance of 9.25%, largest increase in the CAC 40 7.46% Credit Agricole and Societe Generale 8.55%.

Total (2.97% to 32.25 euros) reduced the number of banks in which it deposits funds for fear of a credit crunch in the euro zone, but remains confident in the French settlements, said its chief financial officer the agency Dow Jones and The Wall Street Journal.

The CEO of Renault (4.20% to 25.30 euros), Carlos Ghosn, said on Monday to Reuters that he saw no sign of slowdown in global demand despite the debt crisis in Europe and economic uncertainties in the United States.He expects an increase in car sales in the United States in 2012.

The title of the French automotive supplier Aries (18.64% to 7 euros), specialized in the production of aluminum parts, flew Tuesday in the Paris Bourse, with a net income higher than expected in the first half (6.7 million euros, up 31.3%).

Thales (2.08% to 24.58 euros) for its part plans to sell part of its services activities, according to Les Echos on Tuesday. The division, which last year made 81 million euros in sales, employs approximately 500 people. Logica names and GFI Informatique circulating among potential buyers.

Dexia (6.09% to 1.48 euros) is facing a complaint from the town of Rosny-sur-Seine (Yvelines), which has borrowed toxic.The mayor filed a complaint for "organized fraud" and "deception" with a civil court of first instance of Versailles against Dexia Credit Local.

Ipsen (3.56% 22.57 euros) was acquired from the Norwegian pharmaceutical company Photocure marketing rights of Hexvix, its flagship product for the diagnosis of bladder cancer.

The retailer Casino (2.29% to 57.13 euros) saw its price target reduced from 81 to 74 euros by HSBC. Land areas (4.54% to 50.73 euros) for his part saw the recommendation on its title upgraded to "buy" against "hold" earlier by ING.

Neopost (4.05% to 57.23 euros) will release its results for the first half after market.

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"Week crucial for Greece

The CAC 40 expected sharply lower after Fed

Concerns about the health of the U.S. economy may once again to weigh on the markets in Paris. In the wake of Wall Street the day before and Asian stock markets this morning, the CAC 40 is expected to open sharply lower at least about 2%, according to forecasts, having already fallen by 1.6% in the previous session.

Markets should sanction and the decision of the U.S. Federal Reserve (Fed) on Wednesday. In fact, the Central Bank of the United States announced new measures to support the U.S. economy. It will sell well here in late June 2012 for $ 400 billion of treasury bills and short-term buy for the same amount with a longer maturity in an attempt to lower interest rates in the long term (an "Operation Twist").To support the mortgage market, it will also acquire real estate securities without increasing the size of its portfolio, according to the Committee.

However, markets did not appreciate his verdict on the economy, noting the "continuing weakness" of the labor market, with an unemployment rate of "high" of 9.1%, coupled with "significant risks "related" tensions in global financial markets. " "The opinion of the Fed on the economy is deteriorating a lot and it seems it can not do much with the Republicans (he) asked not to intervene," says Yutaka Miura, analyst at house brokerage Mizuho Securities, the Dow Jones Newswires.

Thus, the market had expected better, especially after worrying about the International Monetary Fund.The day before, the institution headed by Christine did not hesitate to raise the specter of a global recession and launched at policy makers in the world "a fervent call to action". At the same time the institution has significantly downgraded its growth forecasts for the global economy. This is expected to grow 4% in 2011 as in 2012, 0.5 points below its previous forecast of 4.5% last April.

Beijing sees its manufacturing activity deteriorated

To this must be added the emergence of concerns about the economic situation in China. Manufacturing activity in the country has deteriorated in September, reaching its lowest level in two months, according to preliminary PMI bank HSBC said on Thursday. PMI Purchasing Managers calculated by HSBC in September reached 49.4 against 49.9 in August, knowing that a figure below 50 means contraction."We are seeing a moderation in growth as in the past two months. Fears of a hard landing of the Chinese economy are unjustified, "said in a note Qu Hongbin, the chief economist for China at the bank.

In addition, investors are increasingly worried about the evolution of the crisis of public finances in Europe no fax cash advance. Greece announced Wednesday its intention to launch new austerity measures to convince the Troika and obtain payment of a new tranche of 8 billion euros in October that will allow it to avoid bankruptcy.

On the foreign exchange market, the dollar was up against the euro. It was worth 1.3544 dollars per euro, against $ 1.37 the day before in Asia.Oil falls as himself down under the effect of a rise in the dollar and pessimistic forecasts from the U.S. Federal Reserve (Fed) for the world's largest economy.In early electronic trading, a barrel of "light sweet crude" for October delivery gave up $ 1.21 to 84.71 dollars per barrel of Brent North Sea crude for October delivery lost $ 1.26 to 109, $ 10.

On the macroeconomic front, France, the index of labor costs in industry, construction and service sector in the second quarter will be released at noon.

In the U.S., the weekly claims for unemployment benefits will be unveiled at 14.30, and the composite indicator of economic activity for the month of August in 16 hours.

Earlier this afternoon, the markets also expect the statements of Robert Zoellick and Christine Lagarde, respectively president of the World Bank and IMF Executive Director, at the opening of the annual meetings in Washington

Values ​​to follow

• Banking

BNP Paribas, which has seen its share price unscrew more than 50% in three months, may request assistance to private investors understood the Financial Times. Analysts said that the institution may seek to raise up to EUR 2 billion from investors from Qatar and Abu Dhabi. However, an assumption that sweeps by the Director General of the bank Baudoin Prot.Investors also will keep an eye on Societe Generale and Credit Agricole.

• Saint-Gobain

The group has conducted Wednesday through placement of a bond issue in two tranches for a total of 1.75 billion euros with an average maturity close to six years and an average coupon of almost 4% in the refinancing of debt specialist construction materials. The transaction was heavily oversubscribed as the order book has reached the aggregate for the two tranches over seven billion from nearly 400 investors.

• Danone

The company launched its next bond issue of € 500 million due 2016.

• BioAlliance

The group announced Wednesday the confirmation of the clinical trial schedule Livatag against the primary liver cancer, starting with the pivotal Phase III in 2012.The company also reported a residual income of 1.02 million euros in the first half.

Wall Street resumes height

The day after a session in the red, the U.S. stock markets end up the way to higher Tuesday. In early trade, the Dow gained 0.37% to 11,446 points, the Nasdaq advance of 0.45% to 2625 points and the S & P is 0.40% to 1209 points.

The progresison remains very cautious. U.S. operators, like their counterparts in Europe and Asia, remain very concerned about the issue of sovereign debt in Europe. They fear a contagion to other countries considered fragile in the euro area.The decision of Standard & Poor's lowered by one notch to "A +" to "A" note of Italy, due to low growth prospects, has just added to the failure of the meeting this weekend of European Ministers of Finance have failed to agree on a new loan to Greece, still under the threat of default.

The question of the future of Greece will remain central today. In Athens, after an initial conference call Monday night, a new meeting between the Greek Finance Minister Evangelos Venizelos and representatives of the troika of the country's creditors, European Commission, European Central Bank and International Monetary Fund, to be held tonight . Their verdict depends on the payment in October of $ 8 billion from the loan made last year in the euro area country and the IMF.Manna vital for the country to the brink of bankruptcy.

Pending around the Fed meeting

Hopes for recovery of the market, worried about the economic downturn hitting the United States and Europe, are now placed in the meeting of the Federal Reserve (Fed) which starts today and will end tomorrow.

The fears are in fact more and more vivid on the other side of the Atlantic, where Barack Obama announced a plan to further reduce the deficit of 3000 billion Monday, financed half by an increase in taxes for the rich, did not produce any relief.

On the macroeconomic front, the U.S., housing construction has increased its decline in August, falling to its lowest level since May, according to official figures published Tuesday in Washington.

Mergers and acquisitions continue

The side of values, the French computer group Bull and American Technologies CA (0.09% to 21.24 dollars) Tuesday announced an alliance to facilitate the switching of heterogeneous enterprise IT infrastructures to the Internet and the "cloud" ( cloud computing).

The Internet giant Google (-0.10% to 546.12 dollars) bought DailyDeal, German site group purchasing established in 2009 business cards design. Google, which offers this service for U.S. consumers, seeking to expand its presence outside the United States to reach the largest number of users and compete with its rivals in the field as Groupon.The amount of the acquisition were not disclosed.

The U.S. stock market watchdog, the Securities and Exchange Commission (SEC) encourages U.S. companies to transparency regarding their income abroad, reports the Financial Times. The SEC, which has made this his new battle cry, drew particular groups such as Dow Chemical (-0.73% to 27.54 dollars) or Caterpillar (-0.28% to 84.36 dollars) share more information with investors.

After the close of Wall Street, Air Products (0.10% to 81.66 dollars) has announced a new share repurchase program of $ 1 billion.

The mergers and acquisitions also continue to multiply.According to reports the Times, Blackstone (-0.45% to 13.26 dollars) would buy with Prestige Brands of America (-0.73% to 9.46 dollars), a portfolio of non-prescription drugs worth £ 2 billion, owned by GlaxoSmithKline (0.07% to 41.54 dollars).

Jazz Pharmaceuticals Inc. (0.90% to 44.13 dollars) and Azur Pharma Ltd. (will merge to create Jazz Pharmaceuticals Plc, a pharmaceutical company based in Ireland and listed on NASDAQ.

Also in the pharmaceutical sector, Varian Medical Systems (1.16% to 53.05 dollars) will buy Calypso Medical Technologies, a company specializing in monitoring tumors during operations radiosurgery and radiotherapy for $ 10 million and contingent payments.

However, ConAgra Foods (0.21% to 23.44 dollars) withdrew its offer of Ralcorp Holdings (-0.23% to 75.06 dollars) due to "lack of constructive dialogue with Ralcorp."

Others are preparing to pass the act as Home Properties (-5.61 to 58.70 dollars) will conduct a capital increase of 5.25 million additional shares to finance "its external growth and new real estate development projects. "

Also note, a Court of Appeal in the United States lifted a court order blocking the payment of compensation of $ 18 billion by Chevron (-0.69% to 98.03 dollars) for environmental damage in the Amazon.

In addition, three complaints were filed against IBM (+0.11% to 173.32 dollars) from the European competition authorities, including one by a French company, have been abandoned, it was reported on Tuesday the European Commission.