Before the French, Nicolas Sarkozy will decide maybe not the word federalism, because it means a loss of sovereignty that they do not approve.Polls show they are committed to the euro – are 77% want to keep the single currency, according to the latest BVA poll for BFM / Challenges / Avanquest. But other surveys indicate that about two out of three French are not ready to "more integration". The ridge is close to the head of state for several months defending the prospect of a further step towards more integration.

"Bargaining"

It should engage in this exercise in front of the French education before or after the European Council of December 8 and 9, as a great speech that will trace the contours of France in the Europe of tomorrow. "Europe must rhyme with protection, not with globalization in the eyes of the French," says William Peltier, a member of the UMP, and patron of the Letter of opinion.

"Reliving the day Thursday

"Sales 'flash', 'private sales' and other 'deals are limited in time' have always been part of the promotional techniques invented by retailers to increase the desirability of their offerings," noted experts LaSer, equal subsidiary group Galeries Lafayette and BNP Paribas Personal Finance specializes in marketing and customer relations."With the online business, these opportunities have continued to increase until the proposal Papercut extreme, proof that people are always looking for new shopping experiences and, for them, use n ' is never very far in the game "

This view is shared Olivier Mathiot, co-founder and marketing director PriceMinister. "The sales script 'flash' or other private sales makes shopping even more fun." He was convinced that the Internet boosts "impulse buying". "This media immediacy causes a sense of urgency that forces the user to decide very quickly. It recreates an environment conducive to the frenzy and excitement, "said Olivier Mathiot. PriceMinister also take account of this trend.

Bought by the Japanese Rakuten in June 2010, the site led by Pierre Kosciusko-Morizet draws its sales processes favored by the Japanese. It has well before mid-2012 to implement his concept of "shopping marathon", an event that lasts 30 hours and is conducted twice a year in June and December. "Ten merchants in the same sector, such as fashion or food, offering users a selection of products at bargain prices, and product category changes every hour," explains Olivier Mathiot. This visit a huge success. "The turnover of Rakuten in Japan grew by 150% during these periods," says co-founder of PriceMinister faxless payday advance.

"Everyone wins"

"Everybody is up with this kind of promotional offers," says one at eBay, the specialist in online auctions."The customer is doing well and the merchant increases its visibility while achieving dramatic sales volumes in a timely manner." In order not to miss the boat, eBay launched in early October its "Daily Deals", inspired by the "daily deals, "such sales 'flash' already well proven in Britain and Germany. For one day, merchants offer discounts on products theme, depending on the season and current events. Like Papercut and his concept of 'speed dirty' in Sweden, eBay distills the game in the act of purchasing: "Auctions are the adrenaline and that's what consumers are looking for. The evidence, from 20 to 25% of people who come to our site looking for auction, "says eBay.

Of adrenaline to the frustration, there is a site that has taken Swedish Papercut cheerfully. "The frustration is part of the game and users know it.If the sale is concluded, the satisfaction is increased tenfold, "Marc Lolivier analysis, managing director of Fevad. However, the practice of selling 'flash' requires good organization. Beware of stock-outs that could raise the ire of consumers, while retailers would pay back customers who have already paid for their order. Here, no one would gain.

E-commerce: the bar crossed the 100,000 sites by 2012

Internet sales continue to take their game in a morose for household consumption in France. The turnover of e-commerce sites has reached 17.5 billion euros, up 20% from January to June, according to the Federation of e-commerce and distance selling (Fevad). Nearly 20,000 new commercial sites have been created, an increase of 28%, bringing to nearly 90,000 the number of active sites in France."The bar of 100,000 sites could be reached by 2012," said Fevad. In the first half, the areas of fashion clothing and Tourism signed the largest increases in turnover (+16%), far ahead of the high-tech products (8%) and sales professionals (+ 5%).

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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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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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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."

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.

Even gloomy atmosphere on other European financial centers. In Frankfurt, the Dax lost 2.83% and the FTSE in London has sold 2.03%. The ill wind has also blown on Wall Street. Sitting in the Dow Jones fell by 1.93% and the Nasdaq 2.06%.

Last week, European markets had experienced a brief respite, hoping significant progress on the issue of Greek debt. But the meeting of European finance ministers on Friday and Saturday in Poland ended in failure.They have postponed any decision on the October installment of a new tranche of 8 billion euros to Greece, which desperately needs the money.

Banks on the front line

The markets welcomed the news calmly. "Despite the need for action, European leaders continue to show slow and have not yet ratified the measures promised July 21," observe the experts Saxo Bank guaranteed high risk personal loans. But for the strategists of Aurel BGC, the markets will continue to brood, "as investors will not feel that a lasting solution was found for Greece."

Trying once again to reassure the French Minister of Economy Baroin said that the issue of a default of Greece, feared by some observers was "not a working hypothesis" in the zone euro.Investor caution was also reinforced by the expectation of two important deadlines in the afternoon. A teleconference between the Greek Finance Minister Evangelos Venizelos and the Troika, "between the European Commission, the ECB and the IMF. In the U.S., investors sifting through the intervention of President Barack Obama, who introduced new measures to reduce the deficit amounting to 3 trillion dollars. Bank stocks were again at the forefront. BNP Paribas lost 5.48% and 6.70% Societe Generale.

Investors had eyes turned to Europe, where each new about the problems of sovereign debt is analyzed carefully. Like yesterday, the news that Rome had asked Beijing to make significant repurchases of its sovereign debt, has indeed done so. While Italy has been completely denied the reports, the fact that China could get involved gives some confidence to operators.

Similarly, another new fueling hope the five emerging BRIC (Brazil, Russia, India, China, South Africa) should discuss next week the opportunity to assist the EU in turmoil the debt crisis. They could increase their holdings of bonds denominated in euros.

Finally, the announcement of a conference call Wednesday between Greek Prime Minister George Papandreou, French President Nicolas Sarkozy and German Chancellor feeds market recovery. Some investors have been dreaming of sensational announcements.

The United States involved

U.S. operators, such as Europe and Asia, remain very concerned about Greece. They fear it will not be able to meet these budget commitments, which threaten to bankrupt the country and aggravate the crisis in Europe.An output of the euro in Greece is also now considered by many economists.

This morning Jean-Pierre Jouyet, chairman of the Financial Markets Authority (AMF), said on iTV that Greece may have to undergo further restructuring of its debt than expected. German side, Angela Merkel is trying to catch up about his Economy Minister Philipp Rösler, who spoke Monday the event of a default of Athens.In a radio interview BBB, the Chancellor found it necessary to "avoid any uncontrolled process in the euro area."

The United States also stressed that they became involved in resolving the crisis in the eurozone, as the Treasury secretary, Timothy Geithner will participate Friday in the meeting of Ministers of Economy and Finance Union European Poland.

The U.S. deficit rises again

On the foreign exchange market, the euro was down slightly Tuesday against the dollar and the yen on Monday after falling $ 1.35 for the first time since February and the lowest for 10 years against the yen, and the voltage was strong, the markets fear more a possible failure of Greece.At the opening in New York, the European currency was worth 1.3673 dollars against 1.3624 dollars.

As for oil prices, they ended up sharply Tuesday, the market betting on a sharp drop in crude inventories in the United States, despite pessimistic forecasts of consumption of the International Atomic Energy Agency (IEA). On the New York Mercantile Exchange, a barrel of "light sweet crude" for October delivery ended at 90.21 dollars, up 2.02 dollars compared to the previous day.

On the macroeconomic front, the prices of imported products in the United States had started to decline in August, according to figures released by the Washington Department of Labor. The price index for the ministry declined 0.4% from the previous month, after rising 0.3% in July. This is its second decline in three months.It is lower than in June, where import prices have declined for the first time in a year (0.7%).

The fiscal deficit of the United States it is increased again in August after four consecutive months of decline, according to figures released Tuesday in Washington by the Treasury Department. The negative balance of public finances of the federal state stood at 134.152 billion dollars for the eleventh month of the fiscal year 2010-2011, 48% more than in August 2010, the ministry said.

Samsung attack Apple

The side of values, Hewlett-Packard (0.53% to 22.70 dollars) announced on Tuesday that 41.62% of the shareholders of Autonomy UK (1.63% to 39.85 dollars) had supported its bid.The U.S. group also announced it was extending its offer until Oct. 3.

The giant South Korean Samsung Electronics Electronicsa complaint in France against its U.S. rival Apple (1.23% to 384.62 dollars) for a litigation involving three patents relating to UMTS technology. "The complaint focuses on three technology patents, and not the design of the shelves," as was the case during a recent trial in Germany, said a spokesman for Samsung.

Rating agencies could worsen them. Moody's (3.29% to 30.46 dollars) has indeed said yesterday that it planned to degrade the note by the McGraw-Hill (3.01% to 41.471 dollars) has announced its intention to focus on rival rating agency Standard and Poor's division after educational activities.Fitch has already passed the act.

For his part Nordson Corp. (5.39% to 42.59 dollars) yesterday announced after the close had authorized a share repurchase program of $ 100 million.

Note also the U.S. internet group AOL (-2.47% to 14.39 dollars) has appointed a new editor for TechCrunch, the site of information on technologies he had bought in September 2010, after 10 days controversy over the fate of the former owner, Michael Arrington. The new editor is Erick Schonfeld, Associate Editor edited by Michael Arrington. AOL announced that Michael Arrington, founder of the site, decided to leave TechCrunch and AOL to devote to investment funds that it recently launched.

With the crisis of government debt in the euro area, to which Europeans are struggling to meet, investors are increasingly worried about the strength of the European banking system. The situation has become such an outflow of Greece in the euro area is openly discussed by senior politicians in Germany and the Netherlands. In exchange, banking stocks suffered a pounding in order. Since the beginning of the year, BNP Paribas, Credit Agricole and Societe Generale have lost between a "large" third and 60% of their value.On the first day of September, the losses of the three titles are respectively 17.45%, 22.33% and 27.69%.

Analysts relativize

Especially, a controversy arose in late August on the valuation of debt securities by certain Greek French banks. The IASB, the body responsible for setting international accounting standards, criticized some financial institutions are not named, have valued their claims on the Greek state in ways internal development rather than by using market prices. Which would have allowed banks to spend less severe impairment in their accounts. Even if they have applied a discount of 21% on government debt they have in their accounts, the three banks still have about six billion euros of Greek sovereign debt.

Some analysts relativize however, the scope of the surveillance on June 15 the three French banks by Moody's by saying that the other two rating agencies, Standard & Poor's (S & P) and Fitch attributed to them have lower grades. Crédit Agricole SA is now rated "Aa1" by Moody's, and BNP Paribas and Societe Generale are rated "Aa2". S & P assigned the notes 'AA' with a negative outlook to BNP and "A +" with stable outlook to Crédit Agricole and Societe Generale. Fitch is on his side to "AA-" with stable outlook to BNP Paribas and Credit Agricole, and "A +" with stable outlook for Societe Generale.