Breaking News, World, U.S., Entertainment …

A Virgin store in the heart of a Carrefour hypermarket? As of August 25, the sign of cultural goods will fetch the radius culture Crossroads Venissieux, a suburb of Lyon. "It installs a true Virgin of 300 square meters, which is the format of our stores in train stations and airports, says the Figaro Jean-Noel Reinhardt, CEO of Virgin Stores. The furniture is furniture Virgin, SEO will be managed by our own sales force. "

Virgin does not just manage the music department, as revealed in early July challenges.fr. The competitor Fnac will turn all the knobs. Carrefour will be delegated as 100% concession for the management of the entire radius culture (books, music and video) off the video games. Virgin and Carrefour have talked for eight months before signing the partnership. "We give a year, said Jean-Noel Reinhardt.If it works, we can decide with Carrefour to deploy the concept in other supermarkets. "

The approach, which aims to "re-enchant" the hypermarket, will allow Carrefour to boost its sales in non-food, fell 5% last year. Such a partnership will allow Carrefour to unload a radius deemed difficult by assigning responsibility to a specialist.

Discussion with SFR

"It's a win-win solution for Virgin and Carrefour, said Jean-Noel Reinhardt. We bring the legitimacy of our brand that appeals to young people. Carrefour, meanwhile, makes us very important benefit of the flow of its customers. "

Along the same lines, other "stores in the store" could be introduced in Carrefour hypermarkets.According to our information, Carrefour declined to comment, and discussions are well advanced with SFR, which could establish phone shops. Other partnerships could be concluded in the arts of the table, with the leader Arc International, or in video games, with Micromania.

The formula of the concession, in which Carrefour Virgin donate a percentage of its revenues, will allow Carrefour to reduce its costs and thus improve its performance. Incidentally, it will also give him the opportunity to redeploy staff to other departments or even reduce the staffing of the culture, both in stores and at headquarters of the distributor, where hundreds of people working on the offer non-food.For its part, Virgin is a way to revitalize its network (30 megastores and six stores in train stations and airports) by increasing sales at lower cost. "The company has developed a range of creative hobbies more interesting than the Fnac, is Thoumine Lawrence, a consultant at Kurt Salmon. But the initiative of Carrefour is presented more as a response to cultural spaces Leclerc, growing steadily for 10 years and the concept works pretty well, an attack against the Fnac. "

ALSO READ:

"Carrefour is growing in China

Filed under: business, features, news, resources, technology by admin Comments Off

Spain is she about to ask for help from the EU? Despite repeated denials, the new back strongly in the German press. Monday, Frankfurter Allgemeine Zeitung asserted that the issue should be discussed in Brussels this week, without even waiting for the summit of Heads of State and Government scheduled for Thursday. The newspaper said the European Commission President Jose Manuel Barroso and Trichet Jean-Claude Trichet would have voted in favor of aid to Madrid. Friday already, the Financial Times Deutschland said that Brussels was expected to receive a Spanish demand in the months to come.

Claims denied on all sides. "Spain does not need additional funding from any international institution whatsoever.The rumor is false, said Monday the Treasury Secretary Carlos Ocana in Spanish, while recognizing that the Spanish banks struggled to refinance themselves abroad.

German game condemned

In Brussels, the Commission does not hide his irritation deal with rumors. "There is no preparation, there are no plans to provide financial assistance to a member country," said a spokesman. Although in theory "everything is in place" to run the financial stabilization mechanism of 750 billion euros finalized recently.

Spain adopted in late May an austerity plan of 50 billion euros by 2013. But the plan was narrowly passed by Parliament, and it is pale in comparison to 80 billion euros in savings in turn announced by Berlin pay day loans."Somebody in Germany has clearly beneficial to put more pressure on Spain, it's pretty twisted," says a source close to the Commission. In early June already, the Ecofin had requested additional efforts in Madrid.

Figure rumors

In Berlin, the Ministry of Finance wanted to calm things down by saying that Spain did not qualify to seek assistance from the Fiscal Stabilization Fund. Spain has played "no role" in a teleconference Monday for the finance ministers of G7 countries, devoted to preparations for the G20 summit in Toronto, has ensured a spokesman.

Still, the risk premium on bonds was tense Spanish Monday. "Again, there is a pattern of rumors as it was to know about Greece, it has been criticized diplomatic sources in holding that" we must beware of self-fulfilling expectations.Spain worried because it represents nearly 12% of European GDP: the euro area can not afford to drop it. But given the poor state of Spanish banks, some believe that the money from the stabilization fund would actually fly to the rescue of financial institutions.

ALSO READ:

"Spain announces a new dose of austerity

The European aid plan in 5 questions

Filed under: economic, finance, news, publications, special by admin Comments Off

Faurecia aims to achieve a turnover of 16.5 billion euros in 2014, a jump of nearly 80% compared to 2009, driven notably by growth in emerging countries and accompanied by a marked recovery its operating margin.

In a preliminary statement issued on the occasion of a presentation to analysts of its medium term strategy, the automotive supplier had suggested a target of about 16 billion euros. It was subsequently refined to 16.5 billion by the group finance director, Frank Imbert, at the end of the presentation.

Faurecia said that his goal would be increased by an average annual growth of 12% over the period, exceeding the estimated average market, including 8% organic growth. In 2009, the turnover of the world's leading exhaust stood at 9.29 billion euros.His prediction halfway strategic plan in 2012, is set at $ 14.2 billion.

The group had already said last month during its general assembly in 2010 that would significantly exceed its target of 4% growth, the dynamism of emerging markets in which Faurecia development in addition to continuing strong demand the scrappage Europe in the first half.

He added target for 2012 operating margin of 4% to 4.5%, against 1% in 2009 and 0.8% in 2008. This rate should be increased to 5-6% in 2014 thanks to growth in the group but also savings plan "Challenge 2009" which led to Faurecia, during the crisis of the automobile, reduce its dead.

The growth will come from China

He estimated that at the end of the period of five years, the share of turnover achieved outside Europe that will reach 42%, against 23% last year, with sales increased by 3 3-6900000000 euros.

This shift from the center of gravity of the group due to the rebound of the North American market, which Faurecia plans to take further since it acquired Emcon, and strong growth enjoyed always the Asian market, led by China.

The group aims at 2014 turnover of 1.7 billion euros to the Chinese market, against 700 million in 2009, representing an average annual growth of 19%.

The Chinese automotive market, already become world number one, is expected to double in size in the coming years.Faurecia now believed to be in position to get the best score for the plants he has in place today allow it to achieve the necessary scale. By 2014, the number of sites expected to reach their thirties.

Faurecia also said targeting a net debt to EBITDA of less than 1 in 2012 and 0.5 in 2014.

In exchange, these ads have been welcomed. The stock has gained nearly 5% to 14.825 euros.

Filed under: Uncategorized, international, life, resources, world by admin Comments Off

The Swiss parliament on Tuesday rejected the agreement for transmission to the United States of thousands of names of UBS clients suspected of tax evasion. Signed in August 2009 between Berne and Washington, the agreement had been challenged in January by the Swiss courts. Members of the National Council (lower house) spoke to 104 vote against the request for information from U.S. on a 4450 American clients suspected of having escaped from their taxes.

Several parliamentarians have yet tried to defend the agreement, citing the urgency of closing a thorny issue for the Swiss government and UBS. "With the uncertainty of a referendum, we extend a risky situation (and) put at risk cooperation with one of the most important economic partners" of Switzerland, the United States, has launched Hans Grunder (bourgeois Democratic Party Swiss center-right).

The Justice Minister Eveline Widmer-Schlumpf for his part called in vain to "close this painful chapter and resolve problems" of the Swiss financial center. The 76 votes cast in favor of the agreement have not made the weight. And because of disagreement between members, the document must pass before the Council of States (upper house) for a new vote. it should be held on Wednesday, the summer session ending June 18

Referendum

Elected officials have also decided to submit the agreement to hold a referendum. Under Swiss law, any citizen may indeed ask, if it meets 50,000 signatures in 100 days, the holding of a referendum on a bill. The people having the last word, any outcome of the vote is final and binding.

A delay or a final refusal, Bern that UBS could put as much in a difficult situation.it might first be seriously tarnished relations between Switzerland and the United States. For the first Swiss bank, a final rejection would be more harmful because it might again confront the prosecution in the United States, while still recovering from losses sustained during the astronomical financial crisis.

ALSO READ:

"UBS vote on the transfer of data

"UBS: U.S. data

"UBS fails to reassure customers

Filed under: business, economic, economy, people, special by admin Comments Off

"It was a time, Wall Street firms protected them customers. The irony about Christopher Whalen, head of research firm Institutional Risk analitycs in response to the announcement by the SEC (Securities and Exchange Commission) – The U.S. stock market watchdog – the filing of a complaint for fraud against Goldman Sachs.

The U.S. bank would have hid crucial facts about financial products affected by the subprime crisis. Fraud concerns the structuring of CDOs (collateralized debt obligations) linked to subprime subprime.

Goldman Sachs's action was immediately heavily affected by this lawsuit. Around 17h35, the title fell by almost 14% to 160.3 dollars, bringing in its wake many financial stocks and the major global indices.

The SEC accused the bank and one of its vice-presidents, Fabrice Tourre to have misled investors by concealing important facts about the financial product concerned, while the U.S. housing market began to deteriorate.

"Unfounded" according to Goldman Sachs

"The accusations are completely baseless SEC according to law and the facts and we will vigorously contest and defend the firm and its reputation," the bank said in a statement pay day loan lenders.

Around 19 hours, Wall Street was still affected by the news, the Dow Jones dropping 1.31%, to 10,999 points – falling below the psychological 11,100 points high – while the Nasdaq slipped 1.57% to 2476 points – the bar is also crossed 2,500 points down – and the Standard & Poor's 500 yielded 1.75%, to 1190 points, below 1,200 points.

Huge loss for its property fund

On Friday morning, more bad news has been unearthed: the Whitehall Street International Real Estate Fund managed by the U.S. bank would have lost most of its value, according to the annual report sent to investors last month, and published this Friday The Financial Times.

The report highlights poor investments in the U.S., Germany and Japan. Its net assets would be dropped to 30 million euros when it was previously estimated at 1.8 billion euros (1.3 billion euros).

Filed under: international, life, news, special, technology by admin Comments Off

LE FIGARO. – How to justify to consumers increased by 9.7% in the price of gas?

Philippe de Ladoucette – There is a formula and is totally transparent. In this case, it is to pass an increase of 3.8% in supply costs and 5.9% for non-supply costs, that is to say, transport, storage and marketing costs. Hence the overall increase of 9.7%, which was considered by the Regulatory Commission of Energy (CRE) on the proposal of GDF Suez. The evolution rules can go into the truth costs.

Gas prices on the market have declined significantly in recent months. How then to explain the increase in regulated prices in France?

Because these regulated prices depend first and foremost long-term contracts that were signed between Suez and GDF several major producing countries (Russia, Norway, Algeria …).But gas prices on the market, by definition volatile, have not always been so attractive today. In 2008, for example, industrial supplies on the market have seen their bill jump 40% a year. Currently, the gas environment has changed not only the supply exceeds demand, but other generation sources such as shale gas in the United States, tend to develop. All this promotes falling gas prices.

Can you imagine that the formula indexed to the long-term contracts is called into question the benefit of consumers?

GDF Suez plans to negotiate with some suppliers, like Russia's Gazprom, a key to lowering the cost of supplies.But all producing countries are not necessarily inclined to reconsider the current system, which also has advantages because it allows to guarantee the security of supply, essential for a country like France. In general, we can not claim that the formula is modeled on market prices when they are more attractive than long-term contracts, and vice versa. There are choices to make …

In other words, it does not affect the formula for calculating regulated prices of gas?

Not necessarily. Before the end of this year, the CRE will proceed, in connection with the services of GDF SUEZ, an audit of the formula. To ensure precisely that there is no distortion too high between the environment and gas prices paid by French consumers. An adaptation of the formula is always possible, knowing that there are a number of steps to the key.The State to decide in last resort by decree.

ALSO READ

"The gas prices will increase by 9.7%

"Bercy modifies the rules for fixing gas prices

Filed under: Uncategorized, business, economy, online, world by admin Comments Off

Following the announcement of its withdrawal from shipyards in Saint-Nazaire, Alstom is at the heart of a corruption case. Three leaders of its British subsidiary had indeed been arrested in Britain for money laundering, fraudulent accounting and payment of bribes, kickbacks, announced the Office of fight against financial crime (Serious Fraud Office) in a statement.

The three men were taken to police stations for questioning by the SFO."We work closely with organizations of criminal justice throughout the world and we are taking steps to encourage companies to report any suspicion of corruption, either within them or by other companies or individuals, "said Richard Alderman, head of the SFO, quoted in the press till payday cash advance .

A spokesman for Alstom said to have no comment to make yet.

At the Paris Bourse, the title loses 2% to 47.14 euros, 12.30 in a market down by 0.43% to 3935 points.

Filed under: economic, features, life, publications, technology by admin Comments Off

It is signed. Center National d'Etudes Spatiales (CNES) signed on behalf of French and Italian Ministers of Defense and the Italian space agency agreement with ThalesAleniaSpace and Telespazio, the two subsidiaries space common to Thales and Finmeccanica, the after which it entrusts the manufacture of a military communications satellite and security to both countries.

The contract worth 200 million euros mark the first successful cooperation in this field in Europe . This after the failed attempts with Germany and Great Britain. The satellite, named Athena-Fidus be produced partly in France and Italy in the facilities of both companies in Cannes and Toulouse and Rome. It must be placed in orbit in 2013 and enter service with the aftermath.It will be used by the military and civil security services French and Italian.

Filed under: Uncategorized, economy, life, people, resources by admin Comments Off

Companies with more than 1,000 employees had until Monday to begin, as desired by Xavier Darcos, negotiations on stress at work. If the goal is not yet fully achieved, more than half the 1,500 companies were expected Friday night reported their ongoing efforts, the ministry said.

This AD Labor Minister Xavier Darcos addressed to large companies last October, was then presented as a response to the many suicides among deplored the operator France Telecom. No financial penalties for non compliance with the injunction government (as is the case for the conclusion of older planes), but a threat may be equally effective for companies concerned with their image: that of being embossed on the website of the Ministry, which will publish the names of offending companies.To date, says the ministry is "only a few companies have already announced they would do nothing."

Green Light

By two weeks, a ranking of large companies based on their action against stress is presented by the Department of Labor free credit report and score . Management effectively leaves two more weeks to these companies to complete their records, so they do not close in a hurry. Those who have signed an agreement will be rewarded with a green light, those who have only begun to negotiate, an amber light, finally, those who have not started, a red light.

If the threat of a deterioration of their image is a powerful tool, it remains to ensure that measures taken do not just limited to a communication operation.One risk is that the National Association of Human Resources: "The companies will mainly effect of ad to respond to the department. Second, some have difficulty putting into practice their actions, because it takes time, "said John Angelo Allican.

ALSO READ:

"Stress at work costs 3 billion per year

Filed under: Uncategorized, money, news, publications, special by admin Comments Off

Ben Bernanke does not have time to savor his victory. Extended for four years by seventy senators cons thirty to head the central bank of the United States, the former Princeton economist sees its legitimacy weakened, while the independence of the institution he heads is seriously threatened .

Not a Fed chief, chosen by the White House, has been confirmed with a margin too low. What is worrying is that opposition to Bernanke comes from both Democrats and Republicans. He was accused of being partly responsible for the crisis not to have been able to control the excessive risks taken by banks. He is accused of having flooded with public money from financial institutions that deserve to be further penalized by their mistakes.It is with others, the scapegoat for those who cry in Washington and stoke the anger of public opinion to the arrogance of banks that seem to again win a lot of money but do not pay enough to consolidate the recovery. Still others are alarmed inflation risk posed by the policy of zero interest rates by the Fed last year when it flooded the financial system liquidity to overcome bottlenecks in credit markets.

These complaints are a reflection of the trauma caused by emergency measures, costly and risky, taken from September 2008 to prevent recession turning into depression. Ben Bernanke in the storm remained remarkably calm. He calmly defended his actions, saying they were often the least bad options that presented themselves to him and his colleagues at the Fed. The moderate Republican, former economic adviser to George W.Bush has also earned the trust and respect for Barack Obama. Specialist in the history of the Great Depression of the 1930s, Bernanke did not actually rival in the battle for a second term. Nobody volunteered for this important position and ungrateful.

The problem of extending his set, Ben Bernanke must now do battle on two fronts. The first one is defending the prerogatives of the Fed. In the debate on banking reform, the Senate is considering withdrawing the U.S. central bank's responsibility for banking supervision. For Bernanke and the White House, the reform-there would be catastrophic. Barack Obama wants instead empower the Fed to regulate the banking risks.Moreover, the House of Representatives has already approved a project that the Fed would submit to regular audits of its market operations in the most confidential part of its mission to regulate the supply of credit. In the name of transparency, it risks depriving the Fed's independence. Under constant pressure from Congress, the Monetary Committee of the Fed might feel compelled to spend the prevention of inflation in the background, in order to placate the elected always eager above all that low interest rates stimulate growth and employment.

The second battlefront Bernanke is even more delicate. It is to decide when and by what means the Fed must raise rates now null and give exceptional measures to support credit markets in place for over a year.Drive up the cost of money is never a popular decision.

Especially when unemployment is still high and that America began a legislative campaign. Bernanke does not act too quickly and not weaken the recovery. But it must also act in time to avoid a surge in inflation expectations. The dollar's credibility is at stake stakes battles Bernanke has never been greater.

ALSO READ:

"Ben Bernanke leaves for four years at the helm of the Fed

"Fed: Ben Bernanke supports Obama for president

"Bernanke plays his position at the Fed in full polemical

Filed under: business, finance, news, online, resources by admin Comments Off