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- November 26, 2011

No change of course. With the crisis, Geox, the brand of shoes and comfortable clothing, has a small air pocket. In the first nine months of the year, profit (63 million) were down almost 13%. Its products that breathe a little less appealing to consumers after two years of slipping revenues (850 million in 2010, -2%).

But Mario Moretti Polegato, president and founder of the Italian group, is convinced he has the magic potion to leave his company the right foot. Its number one priority: grooming claw stores where sales increased when they regress in 10,000 retail outlets distributing multi Geox.

"In the world capitals, we have significant retail space in prestigious places, he says. We already have a flagship store in Paris, Milan and Frankfurt.And we identified locations to open in Beijing and Shanghai. "

Symbol of this evolution: Geox opened three weeks ago a 300 m2 flagship Oxford Street in the heart of London. Outside the cities, the company, which already has a network thus stores (1099 stores worldwide), still wants the flesh: this year it will open 100 new outlets. And in 2012, it plans to add another hundred. In France, where it already has 75 stores, five openings are planned in the coming months. Particularly in Lyon, Toulouse and Marseille.

Cox signed a collection

"Furthermore, we will increase the average size of our stores and to increase from 120 m2 to 180 m2, detailing Mario Moretti Polegato.

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The difficult conversion of athletes - September 25, 2011

Leaving a few weeks ago his book "When I was Superman," the former professional rugby player Raphael Poulain thought might not meet such a promotion for his first work. His testimony, however, echoes the experience of dozens of former athletes who have not managed early enough or seriously enough after their career. While attempting an acting career, the former player of the French stage is always at RSA …

Carefree, career fantasy, sports drink business … there are many pitfalls to a successful second career. "The Transformation of an elite athlete must be thought as soon as possible, even if the training choices that we made 18 years are not necessarily the same as the desires of end of career," insists Bruno Martini Former goalkeeper of France handball and now general manager of the Paris Handball.

"As soon as possible"

Do nothing in a hurry: the board is now accepted by all players around athlete (coaches, associations, consulting companies to sports, some agents). Many entities are trying to build bridges between the world of sport and of the company. Renault, official partner of the XV of France, has just launched with Proval (union of professional rugby players), a program offering a career to former professional players. One type of initiative more often the values of the sporting world (fighting spirit, a taste for effort …) are highly valued in the business world.

In fact, the discourse is much more difficult to move among young people, especially in sports most media, such as football."Today a young footballer aged 15-16 in the training center already won 500 to 600 euros per month and turned professional at 18, with a nice salary," explains Sébastien Pampanay, director of the Ecole des sports occupations professional, working with football clubs on the training of young athletes. "Even in lesser-known individual sports such as tennis, table tennis a young age of 16 wins in the good clubs from 3500 to 4000 euros net per month. After that, go ask them to pass the exam! "Adds Thierry Maudet, executive director of the National Sports Institute, expertise and performance (INSEP), which trains and prepares high-level individual sports.

Social responsibility of clubs

The less publicized sports such as handball and volleyball are in turn more favorable to a successful conversion.Less concerned with early and huge income, keep young athletes' head on his shoulders. " Especially as their media visibility weaker does not help sponsors and advertising contracts very generous. "Clubs are beginning to understand they have a social responsibility on the support of their post-professional players," said Bruno Martini, 80% of its players are trained parallel.

In rugby, the professionalisation of sport sometimes lose their heads to the younger generations, but those who experienced the period amateur took the lead. With varying success. Kémana Spa, the spa center of Serge Betsen, former International XV of France, filed for bankruptcy earlier this year for lack of sufficient involvement in the management of his company he acknowledges himself.Not enough to scald his brothers studs, "who do not know offline realities professionalism," said Miguel Fernandez, players' agent. " Of the 30 French rugby parties in New Zealand, 14 have a side like Lionel Nallet (mechanical parts), Imanol Harinordoquy (clothing brand) or Vincent Clerc (Team One Group: event and sports marketing).

However, despite the good will, training remains a matter of priorities, and even sacrifices. His 30-year well underway, Bruno Martini had to change twice before finding a club in Nimes framework laid him to spend his degree club manager.

Fault lines as sports

Overall, fault lines affect the earliness and quality of the preparation of a post-career.Whether you are male or female, international sports or not, and in a team sport or individual management of retirement sports varies widely. However, the main difference between the high-profile sports and the more confidential. In the first case, the financial gains will promote a higher awareness of the athlete against the importance of rapidly forming a capital, and form. "In France, only 150 players on the 2000 working professionals do not have to worry financially for a second life project, warns Sébastien Pampanay. However, thinking of his conversion is still not part of the natural gait of a professional football player, unlike other sports where the mentality is different. "

For example, the judoka Décosse Lucie, triple world champion and European champion four of his discipline follows a parallel training as a journalist with the CFJ. A woman in an individual sport, the economy far less developed than that of football or rugby would be aware of any financial potential of his career. But exceptions exist, such as media Mickaël Landreau, footballer and current goalkeeper of the club Lille LOSC, now in training (master of management).

Ultimately, the issue of supervision and training of the athlete according to his discipline are crucial. "There is not a sport, but sports, with different realities, warns of Insep Thierry Maudet. The current problem is that we have cloned the same mode of organization for all disciplines.A gymnast has a volume of training equal or even greater than that of a footballer, to operate in a sport to the economic model does not exist! ". From this point of view, the family and the maturity of the sport often make the difference. "Too many young athletes are not yet aware of these constraints. They dream to come true in their sport, "career" and to live, says the head of school sport. We must make them understand that their responsibility in the field, it should be taken also in life. "

The future ex-boss of employment center empty the bag - August 31, 2011

Testimony will or letter of resignation? Despite his categorical denials in the spring, including members of the executive, who asked, Christian Charpy is indeed to complete an account of his three years as general manager of employment center. Titled The head of employment, the book, Le Figaro has obtained a copy will be available Sept. 8. However, the Charpy mandate expires at the end of the year and the Minister of Employment, Xavier Bertrand, continues to make it clear publicly that his "exit" will be faster, last Thursday, he repeated again at Figaro . The contents of the book is likely to accelerate the movement …

While the employment center boss does not attack his name minister. But it strives, in a final chapter "to go further," to criticize one by one the thrusts of Xavier Bertrand instant payday loan.Doing so trades voltage (or those positions are filled) "alpha and omega of an employment policy reflects a restrictive vision of the situation well," Charpy loose. While Xavier Bertrand refused to increase the number it considers "necessary" to strengthen them. Employment center boss surprised "when the increases in the accompaniment of the retrenched, one can consider reducing the accompaniment of other job seekers." And find it ironic that "it reduces opportunities to verify the authenticity of acts of job search by reducing the monthly monitoring personal" when we want "to hunt fake unemployed."

"Showdown"

(Photo credits: Tallandier)

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The Tokyo Stock Exchange does not move before the intervention of Bernanke - August 26, 2011

Caution on Asian stock markets Friday. And for good reason, investors are waiting with some anxiety the president's speech to the U.S. central bank, Ben Bernanke, the outlook for the U.S. economy. The markets had a first look Thursday with the increase in weekly jobless claims in the United States. They are very careful before publication at 14:30 (French time) the second estimate of GDP for the second quarter could be revised down by 0.2 point to 1.1%.

Meanwhile, the Asian financial centers are clearly hesitant and have not adopted the same direction. Thus, while the Nikkei in Tokyo Stock Exchange gleans some points (0.13%) to 8783.99 points, retreating Chinese stock markets: the Hang Seng in Hong Kong was down 0.21% to 19,710.10 points and the Shanghai CSI 300 lost 0.89% to 2877.99 points.

Japanese Prime Minister resigns

Also in Japan, criticized for his hesitation and awkwardness to the disaster caused by the earthquake and tsunami of March 11, Prime Minister of Japan, Naoto Kan, has resigned as chairman of the Democratic Party of Japan, according to media Japanese payday loans. And therefore of his duties as head of government.

On the macroeconomic front, the consumer prices in Japan rose 0.1% in July after a revised 0.2% decline in June.Analysts on average expected a further decline of 0.1%.

On the other Asian financial centers, the trend is mixed if the Taiwan TAIEX gains 0.40% at 7440.37 points, the Kospi in Seoul was up 0.47% to 1772.80 points, the BSE Sensex 30 advance 0 , 12% to 16,165.70 points, the S & P / ASX 200 was down 0.28% to 4200.90 points and the FTSE Straits Times lost 0.71% to 2746.10 points.

Oil not very active

Oil prices were mixed Friday morning during electronic trading in Asia, in a sluggish market, before the highly anticipated speech of the head of the U.S. central bank (Fed). In morning trading, a barrel of "light sweet crude" for delivery in October gave 10 cents to 85.20 dollars per barrel of Brent North Sea crude for October delivery took 19 cents to 110.81 dollars.

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The Paris Bourse rebounded with Total and banks - August 22, 2011

The Paris Bourse was hesitant at first. On Monday, the CAC 40 index opened down 0.85% below 3000 points. But the trend was quickly reversed. The benchmark index in Paris and flew from 1.46% to 3061.08 points in mid-session. 3000 points will retain the objective of the day. This threshold, which had escaped during the meeting with investors last week, was saved at Friday. This did not prevent the CAC 40 to close the day on a sharp drop of 1.92% and losing in five days almost 7%.

Furthermore, volatility is also important. In London, the FTSE-100 index, which started on a decline of 0.82%, now earns a 1.35%. Same movement for the Dax in Frankfurt bouncing 0.10% mid-term after losing more than 1% in the morning.

These policy changes reflect the concerns of investors about the state of the global economy.The United States also focused all fears with the publication of indicators increasingly mixed. This weekend, President Barack Obama admitted that his country was experiencing "a difficult, frightening recession." This should not reassure. He also accused the Congress to halt the reforms he wants to put in place to revive the economy. For his part, Vice President Joe Biden tried to reassure global stock markets and especially the Chinese, the first creditor of Americans saying the country would "never" by default.

Side the euro area, the problems of sovereign debt persist. As the political stalemate. Sunday, the German government has stepped up interventions in the media to reaffirm its opposition to European obligations, yet solution desired by the markets."The Eurobonds are quite the wrong response to the crisis of the moment. They would lead us to a union of debt and not a union of stability, "said Chancellor Angela Merkel who judges the cost of this mechanism is too high for the economy of his country.

Libya move

As in Asia this morning, so caution prevails, especially since no major indicator is in the program. Germany has lowered its forecast of budget deficit to 1.5% of Gross Domestic Product (GDP) in 2011, in a monthly report of the Ministry of Finance released Monday.

Growth is slowing for the fourth consecutive quarter in rich countries, that appears to + 0.2% from April to June compared to the previous three months, according to the Organization for Economic Cooperation and Development (OECD)."The gross domestic product (GDP) in the OECD area slowed to 0.2% in the second quarter of 2011, against 0.3% last quarter," said the organization in a statement Monday.

But investors expect a battery of statistics in the rest of the week including the manufacturing PMI for the euro area (Tuesday), the German IFO index (Wednesday), the weekly jobless claims in the U.S. (Thursday). Wednesday will be marked in France by the presentation of new conservation measures for the country to retain investor confidence and the "triple A".

Friday will be the busiest day with the second reading of U.S. GDP in the second quarter and the index of consumer sentiment.Another highlight of the week: the president's speech to the U.S. Federal Reserve Ben Bernanke, scheduled for Friday.

As for currencies, the euro rose slightly against the greenback. The single currency is worth 1.4419 dollars this morning. Oil markets, traders are watching to Libya where the rebels have entered in Tripoli. If pro-Gaddafi still resisting in the capital, rebel fighters have reached the Green Square, symbol of the regime. The fate of Colonel Gaddafi and therefore the oil-producing country seems uncertain. Seif al-Islam, presented in the past as the future successor of his father, was arrested.In morning trading, a barrel of "light sweet crude" for delivery in September gained 0.84% to 82.95 dollars while that of Brent North Sea crude for October delivery of the territory ceded.

Values to follow

Banking

The AMF may decide Friday, after the close of European stock exchanges, to renew its ban on short selling on financial stocks, but this time for three months. The sector also bounced unevenly on Monday after sharp declines last week, Credit Agricole gained 2.76% this morning before falling back slightly in mid-session (-0.29% to 6.10 euros).BNP Paribas gained 0.95% to 33.06 euros, however Natixis crumbles from 0.76% to 2.86 euros, and Axa, from 0.34% to 10.24 euros.

For his part, Frédéric Oudéa, CEO of Societe Generale (1.34% to 21.15 euros), said Sunday that the nervousness that penalizes banks Scholarships could last "at least until early November."

Paris airport: + 0.73% to 54.17 euros

ADP has registered a record passenger traffic in July, with 8.9 million passengers, an increase of 4.6% over the same period in 2010.

France Telecom (1.04% to 12.68 euros), Vivendi (0.69% to 15.39 euros), Bouygues (0.97% to 21.92 euros) Iliad (1.39% to 80.70 euros)

Some operators are preparing for the end of unlimited Internet access in homes for some clients.

Total: + 3.36% to 33.065 euros

Leading the CAC40, the title has hopes of a quick change of regime in Libya that would allow a reopening of the country's oil installations.

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Asian stock markets in turmoil - August 8, 2011

The damage is limited. After the first weekend after the degradation of the sovereign rating of the United States by Standard's and Poor's, the world was afraid to wake up on Monday on a stock market crash. Certainly, Asian stock markets, first to start the week and give the trend, showing all this morning a marked decline of more than 2%. But the risk of a crash seems for the moment excluded.

In Tokyo, after opening down 1.40%, the Nikkei 225 for blue chips ended down 2.18% to 9097.56 points.La statement last night, the Japanese Minister of Finance Yoshihiko Noda, who has maintained confidence in the U.S. Treasury, was not enough to allay the concerns of investors. The Minister emphasized the mobilization of the European central bankers, a sign of awareness on the efforts to be undertaken.

More than 48 hours after the announcement that shook the world's largest economy, Asian investors have been partially sensitive to the political mobilization of the weekend, both of European leaders, who called for the adoption by the end of September the bailout of Greece on 21 July. But also that of the ECB, on Sunday night discussed a possible acquisition of Italian and Spanish debt, and the White House, which yesterday called for unity among Democrats and Republicans.

The yen is rebounding

Still, if the announcement of the degradation of the United States was somewhat expected in Asia, the timing chosen by Standard & Poor's has caught the markets, even after a weekend of reflection, continuing their descent into hell.In this context of concern about the state of European and American finance, the yen has tended to take some strength vis-à-vis the dollar and euro saving account payday loan. Around 4 o'clock, Paris time, the dollar was worth around 78.05 yen and the euro hovered on the other hand around 111.90 yen, the two displayed small decline vis-à-vis the Japanese currency. A phenomenon still unfavorable export values.

Other major Asian markets show a stronger decline in Tokyo. China, which was very critical this weekend against the failure of U.S. lawmakers to find a long-term solution to their debt problems, the tooth was also harder on the markets: the Hang Seng Hong Kong picks up 4.12% on Monday morning at 20,082.80 points while the Chinese CSI 300 lost 3.51% to 2795.64 points.Beijing is by far the largest holder of U.S. debt in the world with 1.16 trillion dollars of U.S. Treasury bills in the drawers.

Elsewhere in Asia, all places show a sharp decline. The KRX South Korean loose 3.45% to 7581.86 points, while the S & P / ASX 200 Australian loses 2.14% to 4017.60 points. A Bonbay, the BSE Sensex was down 2.60% to 16,855.60 points. Finally in Singapore, the FTSE Straits shows the largest decline (-4.14%) to 2870.92 points.

Oil continues to tumble

Moreover, in this context very uncertain about the strength of economic recovery, oil prices continued their steep decline on Monday morning in electronic trading in Asia. A barrel of "light sweet crude" for September delivery lost 2.59 dollars to 84.29 dollars.That of Brent North Sea crude for September delivery fell by 2.48 dollars to 106.89 dollars.

At the same time, gold has gone through the roof of 1700 dollars to 1704 dollars an ounce on the market in Hong Kong.

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Viagra soon dethroned by a competitor - July 11, 2011

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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Overheating warning of emerging countries Coface - June 30, 2011

The emerging markets are facing a "problem-rich" fight against the overheating of their economies – from 6 to 7% last year – when developed countries are seeking to boost their low growth. "Their macroeconomic management faces a dilemma: keep inflation that accompanies this growth through restrictive monetary and fiscal policies, knowing that increases in interest rates contribute to the massive influx of capital," says chief economist of Coface, Yves Zlotowski. Some countries are better equipped, such as Brazil, the driving force of the South American continent and one of the first to respond, noting early on interest rates and imposing taxes on capital inflows.

Dilma Rousseff, Lula's successor as president, also began to impose fiscal restraint.If the funds continue to flow, growth has slowed down somewhat in the first quarter to 4.2% against 7.5% previously. "Brazil is a highly diversified economy in its exports, with an internal market dynamics. Above all, the country has lead the last ten years important structural reforms, "adds the analyst.

"Institutional delay"

Conversely, the credit insurer is more concerned about the neighbor Argentina, faced with high inflation of 23%, where the industry is operating at full capacity, supported by consumption and fiscal and monetary policy very accommodative personal loans for people with bad credit. Overheating is very important in part masked by a current account surplus driven by exports of soybeans in China. But the landing is likely to be brutal crash.

In Asia, the weakest link is located in Vietnam, with a very open economy model of development with Chinese characteristics, based on the investment, mainly Asian. Iran is benefiting from rising costs in China, resulting in even relocation. This generated a huge credit bubble, whose share in GDP increased in ten years from 30 to 120%. The difference is that it does not have the same cash reserves that China and he is obliged to regularly devalue its currency, the dong. "There is a real institutional delay, the risk is, in a skid, discourage investment, which finance the huge current account deficit," Yves Zlotowski analysis.

However, the restrictions put in place gradually in the large emerging economies – China, India, Turkey, Brazil – should provide a soft landing.The challenge is to develop real consumer markets that go through a reduction in inequalities and a growing middle class and to provide for future growth in developed countries.

Public debt: France must convince in 2012 and beyond - May 31, 2011

Good student, but must continue its efforts. It is, in short, the message delivered by the rating agency Fitch in France. She confirmed the debt rating "AAA", the best possible, with stable outlook. The French government has taken "a series of measures", says the agency, "which have improved the outlook for public finances." And mention the pension reform, or the draft law in fixing the principle of balance of public finances.

"However, these efforts must be extended to stabilize and then reduce the level of debt of France, which was the end of 2010 to 81.7% of gross domestic product (GDP)," warns Maria Malas-Mroueh, responsible scoring countries at Fitch. A number of risk still hovers in effect on the financial health of the state. Starting with 2012, a major election year.It should not, Fitch warns that the budget skids on the bottom of the presidential election. Especially since the forecast growth in the medium term Bercy (+2.5% per year) are considered "optimistic."

It should not, the agency said that the newly elected unleash the flange to the public finances in 2013. Instead, the agency left little choice to the government that emerges from the polls: "We expect the 2011 budget will meet its objectives (a deficit of 5 Internet Payday loans.7%, Ed), but further efforts are needed to reduce the deficit to 3% of GDP in 2013, as agreed. " Debt levels will then stabilize at a level higher than before the crisis, reducing the flexibility to cope with future crises.

Note "under pressure"

In the medium term, Fitch added that "the memo from France could be under pressure (read: be revised downward, Ed) if the competitiveness of France was deteriorating again and if the position of France was weakening." The agency plans and the current account balance, ie the difference between money coming in and who leaves the territory, will remain negative in 2011 and 2012, approximately 2% of GDP. Fitch impels France to further reduce its "structural rigidities".

Despite these black spots, the Hexagon rest for now, said the agency, a "healthy and diversified economy," equipped "social institutions, civil and effective policies." He added: "financial flexibility reflect its status as a major issuer of sovereign benchmark in the eurozone. Clearly, the markets like, so far, take on France.

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The tax puts pressure on players poker - May 30, 2011

A regular player of poker, whether online or at competitions, he must declare his earnings in taxes? For tax officials, the answer is yes. Especially if it draws most of its revenue. "Even if the amounts are variable, since the gains are regular, it is a professional income subject to the payment of income tax," said an officer in the columns of Le Parisien on Sunday.

Since the legalization of online gambling in France, the number of poker has exploded. They are nearly three million followers. But the IRS is more specifically the big players, they believe capable of winning hundreds of thousands of dollars over the year. The latter could then see their earnings taxed at 40%. Players who would venture on illegal sites should have to pay penalties.According to an industry professional, yet only a few hundred players in France are concerned low rates payday advance.

"The administration is bluffing"

While the controversy swelled, some lawyers try to calm the game "The administration is bluffing by some interpretation of tax legislation, including that concerning the management of revenues, says the daily tax lawyer Eric Haber. According to him, the case law is for poker players because it reaffirms that it is a game of chance and that the sums received are tax exempt.

Aware of this legal aspect, the IRS would try now bargaining with the players concerned: they are choosing to pay a tax, they are engaging with the administration in a long legal process.