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The wave of picnics and barbeques in the spring, made possible by an exceptionally favorable weather, had precipitated the French on the shelves of hypermarkets. Sales of water (8.2%), soft drinks (9.5%) and beer and cider (10.5%) had experienced progression insolent March-May (compared to the same period last year), according to data collected by SymphonyIRI. With highs in the purchase of ice cream and other frozen desserts (22.1%). Until insecticides (34.1%).

Manufacturers liked to dream of a vintage 2011 special that would forget the disappointing weather of August 2010. In fact, the weather will be "saved" a consumer already soft.

Even if the summer is still in its infancy, the reversal of June weather has dampened hopes.The rain and temperatures below normal even led to a decline in sales of water (-3.8%), beer and cider (-3.6%) and ice (-3.8%) the last month. Depressed by bad weather, the French have drowned their sorrow in soups, whose consumption is spread (+6.8%) after having faltered in the spring (-13.1%). They also caught up on purchases of frozen quiches and other savory (+7%). Our citizens spend more time indoors, ready meals have also been popular last month (5%).

The end of "catch up"

Beyond these products susceptible to weather, changes in consumption in June promises to be a turnaround. "Over the years, stopping at the end of February, the consumer was doing extremely well, says Jacques Dupré, Director at Insight SymphonyIRI.And all the rays took advantage of the situation in times of great price stability, or even deflation (-0.3% year to date through February). "

After having tightened their belts during the crisis, consumers are caught up by buying products "pleasure" as the food caterer. Then, as he did fine, the French continued to spend, which supported consumption in the spring. Furthermore, while retailers announced in March of annual price increases of close to 2%, the increases were not noticeable ray (0.7%) with the exception of certain categories of products such as flour, oil or coffee, closely linked to changes in raw materials."Despite the boost from the weather, we started to see a real slowdown in early May, with growth in sales of consumer products by 1%, with inflation of 1.3% on same month, "says Jacques Dupré.

From May to June, the price increase (2.2% in June compared to June 2010) has changed all that. If it has boosted sales of consumer goods (+2.6%), it may slow consumer spending over the coming months. "If future inflation was 2.5%, we could have a single stable consumption volume close to zero in hypermarkets and supermarkets on the end of the year," said Jacques Dupré. According Gaëlle Le Floch, Director Strategic Insight in WorldPanel Kantar, "private labels could then have a playing card."

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After years of it alone, Viagra, Pfizer's drug, to fight against impotence, will be joined and overtaken by its competitor, Cialis from Eli Lilly group. John Lechleiter, president, told the German press that Cialis would exceed the reference molecule, the number of prescriptions worldwide before the end of the year.

"In many markets such as France, Italy, South Africa and Australia, we are already with Cialis to Viagra," he said. According to the American College of Physicians, in 2020 some 322 million people worldwide may suffer from erectile dysfunction. In 2010, these treatments generated a turnover of 3.7 billion dollars, 2.6 billion euros.

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This will be the next revolution Facebook. With nearly 750 million members, the social network is already in the shade to the e-mail to photo sharing sites like Flickr and Google. Today, Facebook is opening a new front, which could result in a "blitzkrieg" on the virtual economy. His weapon: a virtual currency, the Facebook Credits, poised to become the electronic purse of any user.

Launched quietly a year ago and a half, Facebook Credits are required on the site since July 1. Now any game publisher or service on Facebook to provide the currency of the site, in addition to its own virtual currency, like the FarmCash well known to fans of the game Farmville.Credits can be bought on the Facebook site with a card, a Paypal account, payment systems such as mobile Zong, even – as in the U.S. – via physical gift cards sold in supermarkets.

Major industrial

Facebook Credits against such exchange of virtual goods in games like Farmville, PyramidZ and Empires & Allies, or, as suggested by the film studio Warner, against VOD movies. In the U.S., fans of télécrochets as "X-Factor" and "American Idol" can be used to vote for their preferred candidates, replacing the virtual currency of Facebook to Premium SMS.Eventually, all things virtual – an mp3 download, buy a newspaper article online, a coupon obtained by locating in a shop with his mobile telephone minutes of … on Skype – could Facebook Credits currencies.

"The use of Facebook Credits is required, but not exclusive," nuance Codorniou Julien, director of partnerships Facebook France. "This includes the game, but the media as Warner Bros, music, video, box office. This will ensure the liquidity of the currency on all services, "explains Julien Codorniou.Specifically, "consumers will increasingly lead the Facebook FarmCash Credits and less" analysis Michaël Amar, CEO and cofounder of Ifeelgoods, a U.S. company that provides e-merchants to offer Facebook in place of Credits vouchers to their customers.

For Facebook, the Credits are an industrial issue. In fact, each editor service that offers its users to pay Facebook Credits reverse 30% of the value of the transaction of the social network. For example, on a rented movie for 30 Credits Facebook, or 3 dollars, by a user, Warner will donate 90 cents to Facebook. These commissions will quickly become an important part of revenue from Facebook. "We want to go as soon as possible and as widely as possible to diversify our revenue," said Julien Codorniou.Already, sales are "significant" for Facebook, which still generates most of its revenue through advertising. To get an idea, just look at the business volume of Zynga, a major partner of Facebook and subject, like others, to pay the 30% commission, the publisher has made 850 million euros sales in 2010. Its revenues are expected to reach $ 1.5 billion in 2011.

Social games

It's not for nothing that Mark Zuckerberg, CEO and cofounder of Facebook, has made the article social game publishers during his visit to Paris in late May for the e-G8: "The game publishers have found that people preferred to play where their friends are Zynga and imported the social dimension in the game Why gaming is gone first? Because it is a very social experience at first.I think that other media will follow as music, newspapers, books, "he said.

For now, Facebook provides not want to conquer the physical properties of electronic commerce with its virtual currency. In shops in Facebook, the social network rather "Facebook experience on third party sites." "In the coming months will spread features such as" Shop with friends "(buy with friends), Julien Codorniou details. This is not to create shops on Facebook, but to bring its online store friends of the people. "These purchases on the site of a merchant with his Facebook identity will feed the basis of information available to the social network members, and facilitate its advertising sales.

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Insensitive to the new this morning reported last night, after-hours trading, the rating agency Moody's downgraded four notches of the long-term rating of Portugal, the Cac 40 back into the red. At closing, the stock index was down 0.59% to 3955.48 points.

On other European markets, the trend is downward: the London Stock Exchange lost 0.35% to 6002.92 points, the Frankfurt Stock Exchange was down 0.11% at 7431.19 points, but mostly Exchange Lisbon loose 2.99% to 7128.72 points, the Milan Stock Exchange drops 2.46% to 19,779.22 points and the Madrid Stock Exchange gives 1.37% to 10,188.60 points.

Moody's does not trust the program "ambitious" in the words of the new government which includes to reduce the country's deficit from 9.1% to 5.9% this year, and 3% by 2013, and believes it is likely that Portugal needs a new aid in addition to 78 billion decided last May.

In addition, major banks and international insurers have raised again the terms of their expected participation in the next plan of aid to Greece.Chaired by the Institute of International Finance in the presence of several countries, this meeting has brought nothing new. According to one familiar with the matter, the Minister of Economy Baroin believes that the negotiations will not end until "several weeks beyond the summer."

Finally, China has raised interest rates Wednesday for the third consecutive time this year by 25 basis points from February to April. The rates of the Chinese central bank now stands at 6.56%.

The euro widens its losses against the dollar

On the currency side, the euro fell sharply against the dollar on Wednesday, weighed down by renewed worries about the economic health of the most fragile countries in the euro area.Mid-afternoon in Paris, the single European currency was worth 1.4325 dollars against 1.4418 dollars late Tuesday.

On the macroeconomic front, the German industrial orders rose 1.8% in May after rising 2.9% in April according to a slightly revised upwards, said Thursday the Ministry of Economy . It now expects the annual Arcep to 15 hours and the economic outlook for the euro area in 16 hours.

Overseas, we will monitor the ISM index of activity in the service in June in 16 hours and the weekly inventory of crude oil after half an hour.

Casa loses CFO

Sodexo (-0.07% to 53.91 euros) on Wednesday confirmed its targets from 2010 to 2011, announcing an increase of 7.7% of sales in the first 9 months of the year in which emerging markets achieved growth rates in double digits.

The manufacturer Gemalto smart card (0.32% to 33.33 euros), the world, announced Tuesday it has been selected by Qatar to secure its online public services, after developing a national identity card e for Qatari nationals.

Bank stocks remain under pressure, affected by concerns surrounding the euro area after the rating is downgraded by Moody's from Portugal and the slow pace of discussions on Greece.Mid-session, BNP Paribas was down 1.70% to 51.41 euros, Societe Generale of 2.17% to 40.25 euros and Natixis 2.32% to 3.45 euros. Credit Agricole SA (-3.53% to 9.98 euros, the largest decline CAC) announced the day before the departure of its chief financial Badré Bertrand, completing an overhaul of the General Staff of the French bank since the arrival of the new management team in early 2010.

Dia hard discount to the company being divided of Carrefour (-2.38% to 23.58 euros), fell on his first day of trading Tuesday in Madrid Stock Exchange. In addition, the band recorded new setbacks Tuesday in his attempt to form the leading Brazilian distribution.

EADS (+0.38% at 23.64 euros).AirAsia will buy 100 Airbus 320neo more, bringing its total order to 300 aircraft, said a source with knowledge of the agreement.

Air France-KLM (-1.10% to 10.80 euros) anticipates an annual growth in turnover of at least 20% in China.

Renault searched, unscrews Scor

The IPO of Mauna Kea (15.03% to 15.03 euros) on Thursday will take place over 13 euros per share, the top of the range that had set the French manufacturer of equipment 'endomicroscopy for placement on NYSE Euronext.

Groups rated television (TF1, Metropole TV, Bolloré, NextRadioTV) will be in Paris to follow.The gross advertising revenue duty of television amounted to 4.29 billion euros in the first half, up more than 12% over the same period a year earlier, said Tuesday firm specializing Yacast.

Scor (-2.84% to 18.99 euros) announced that the exceptionally high cost of natural disasters in the first quarter led him to issue up to 75 million shares to strengthen its equity as part of an automatic protection.

The examining magistrate Herve Robert, in charge of the investigation into the case of pseudo-intelligence within Renault (-0.52% to 40.92 euros), visited Tuesday the premises of the manufacturer at Plessis -Robinson (Hauts-de-Seine) to view documents, said the lawyer for Renault.In addition, the group expects its second half sales results are better than the first half of the year, said deputy director general of the group, Carlos Tavares.

The businessman Bernard Arnault, CEO of luxury group LVMH (+0.16% to 127.25 euros), retains the top spot of the professional fortunes of France, with 21.24 billion euros, before Gerard Mulliez and Liliane Bettencourt, according to a ranking published yesterday Challenges.

L'Oreal (0.55% to 90.02 euros). Françoise Bettencourt Meyers Thursday filed a motion requesting the revocation of the mandate to protect his mother, while urging the judge of guardianships in Courbevoie (Hauts-de-Seine) to take legal action, said Tuesday in an AFP judicial source.

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Greece occupies the minds of the rating agencies, but they do not forget Portugal. If the first could be lacking to believe Moody's or Standard & Poor's, the second concern. Moody's lowers in just four clicks of the note term. "The deterioration in the context of adversity reveals the crisis of sovereign debt and vulnerabilities of the Portuguese economy," says the Ministry of Finance in a communiqué.L rating agency is the first American to relegate Portugal in the class of investments "speculative," that is to say, risky. Standard & Poor's and Fitch placed the rating of Portugal "BBB-" or one notch to the category of "speculative" that Greece currently holds.

The euro increases its losses against the dollar

Moody's did not trust the program "ambitious" in the words of the new government which includes to reduce the country's deficit from 9.1% to 5.9% this year and 3% by 2013. This is why the country must make a saving "a little over two billion euros," said Pedro Passos Coelho had. In addition to the "restructuring of public enterprises," the privatization program will be accelerated with the sale by September of public participation in groups electricians EDP and REN on line pay day loans. "The Moody's decision ignores the effects of the tax on extraordinary income, regrets the Ministry of Finance.This measure shows the government's determination to ensure the deficit targets for this year. "

While Greece is to receive 12 billion euros of fresh money and could get a new rescue plan 110 billion, Moody's says there is a good chance that Portugal needs a new aid in addition to 78 billion decided last May. But for that, like Greece, the rating agency points out that private sector participation would be required for the EU to come to the aid of Portugal. "Portugal might not be able to borrow on capital markets at a tolerable level before the second half of 2013 or even later," said Moody's.

While the U.S. markets did not react to this announcement, the euro accentuated its losses against the dollar, yielding 0.81% to 1.4423 dollar.

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Nicolas Sarkozy will spend a studious summer. A few months ago, he has charge of informal working groups on topics floor (education, territories and sustainable development, economy and taxation, sovereign issues, social and health) that make up the backbone of the UMP candidate in the election présidentelle 2012 – himself, most likely!

These groups of experts (government officials, economists …) come after the first step. Each placed under the supervision of a consultant or former consultant of the Elysee, they will submit their ideas before the summer break with Bruno Le Maire. Which will compile and groom work for what will happen to the presidential draft.The group "economy and taxation", under the leadership of the Economic Adviser to the Head of State, Emmanuel Moulin (and involving senior officials and former de Bercy or the Elysée – Vincent Chriqui Centre for Strategic Analysis , Nicolas Calcoen today at Amundi, Bernard Delpit to the post office, etc..), has completed its proposals. These, contained in a document 54 pages – a note and fact sheets – which has acquired Le Figaro, were particularly aims to make France "a land of output and growth."

What remains for now a discussion paper accepts some ideas: no increase in the tax burden, tax system more "tailored" to strengthen the competitiveness of the country and a crop of some mechanisms that have resulted in "abuse during the crisis. "To address these three issues, which could form the basis of the discourse on tax policy – and should be "accompanied by a clear discourse on respect for the path of public finances set after the crisis" – the group work presents a series of proposals.

To put the economy at the service of production, experts recommend a reduction in social contributions on labor, with a device resembling a social VAT. The prospective candidate will be "persist on rigorous economic solution, but unattractive in view of lower employer contributions and VAT hike" or "dress reform a measure of purchasing power" by lowering premiums weighing on employees – an option that would nevertheless "a risk of inflation due to wage claims low fee pay day loans."

Minimum Tax

The increase in VAT will it take several forms: a general increase in the rate of 5 points, "the simplest measure to the highest yield" and / or establishing an intermediate rate, 8% example, to submit to all goods and services today at the reduced rate of 5.5%. The document also discusses the creation of a higher rate for some luxury goods (high-end cars, some jewelry, horses, tobacco, etc.).. The measure "would be symbolic for many French and would develop a discourse on tax justice," it said. It would also have the advantage of being "tax on land still largely untapped by the current government."

On the front of a tax document refers to "measures of fairness" and "a contribution of all": the introduction of a minimum tax and / or arrow (which would allow taxpayers to "decide the allocation of a fraction of the tax "), measures antidélocalisations, a balance between large and small companies corporation tax, etc.. Dismissing any "big night" on tax loopholes, the task force recommends, however, to continue the grooming started by the government.

Incidentally, the document provides a trial incompetence of the left and list the arguments to counter the key measures of the economic program of socialism.Experts speak out against the merger including the income tax with the CSG, "contrary to our values ​​and irresponsible," and against the withholding.

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The catastrophe of Fukushima has not cooled the ardor "nuclear" in Finland. Three and a half months after the accident on several reactors in Japan, the electrician Fennovoima officially launched a tender to build a new plant, which will be the sixth of the country. Four are already operating, while the fifth, Olkiluoto 3, the site is controlled by the French group Areva, will enter service in 2012.

The same Japanese Areva and Toshiba are the two groups identified by Fennovoima to participate in the tender whose outcome is expected for 2012-2013. The dual French-Japanese technology will also be a clash between the pressurized water reactor, the EPR, proposed by the European company, while his opponent defends an Asian model for boiling water, the ABWR.Both show a roughly similar power.

It's been exactly one year that Finland has launched the process to build new nuclear generation capacity. In July 2010, two electricians, TVO and Fennovoima have been authorized by Parliament to build each plant cash advance no faxing. Since then, Fennovoima has selected two sites to host this facility. Meanwhile, the group sifted through the different reactor technologies before choosing the respective models of Areva and Toshiba.

Three years late

For TVO, things are a little different. The tender for an additional reactor is not yet launched, but the first Finnish utility is already working with Areva as operate the Olkiluoto 3.Incidentally, the fact that Fennovoima has chosen to confront the French technology Toshiba shows that the Finnish authorities have not focused too much on the delay of the Olkiluoto site. This effect will be delivered in three years late, while the bill has almost doubled to 6 billion euros, against a budget of 3.5 billion initially.

But it must be said that the catastrophe of Fukushima had beneficial consequences for the EPR. Its high level of security has become a very significant advantage.

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