Sources: Potentialpark

To attract investors petrified by the crisis, managers are looking for profitable investment ideas and reassuring. Therefore, as in 2008-2009, now flourishing bond funds due.

The principle? These funds have a life fixed in advance and invest in corporate bonds they plan to keep the portfolio until the end, except in special cases (damage to the transmitter for example). Objective: To reap the coupon (interest) known from the start, they pay each year.

As a bonus, the capital is protected as the company that issued the refund obligation at maturity, at least if it has not failed.Even if the manager does not provide any formal guarantee or capital, or performance, the subscriber has a good idea of ​​what they can expect to run (he knows in advance the expected average coupon of the portfolio) if of course none of the companies whose shares have been selected not lacking instant payday loan.

Many management companies, Oddo, the French PM, Ofi AM, SPGP, EDRIM, Rothschild & Cie Gestion or Tikehau example, launched or will soon launch such funds. But sometimes very different approaches.

Edmond de Rothschild IM provides such a yield of about 5% per year for Millesima 2016. "Other funds exhibit higher returns, but with longer investment horizons.

The big aerospace contracts at arm's length support the French foreign trade. These two sectors have advanced temporarily to France to reduce its trade deficit by 32% to -4.967 billion euros, against -6.363 billion in July, according to Customs figures published on Friday.

"Deficit reduction is entirely due to the transport sector," stressed the customs in a statement. Remains that over the last twelve months, the gap between imports and exports widened to 66.8 billion euros, against 51.5 billion for 2010.

Exports reached on August 37.42 billion euros, up 2.9% at three months. Airbus sales have been strong high for the month of the year, thanks to the delivery of three Airbus A380 super jumbo no fax cash advance.In addition, France has delivered two satellites, one in China (112 million) and the other in the United States (130 million). The performance of aerospace and aeronautics, powered shots of large contracts, are very volatile from one month to another.

The rest of the industry has pretty well taken for export, Customs noted "particularly strong for industrial machinery and electrical equipment, industrial exports are fixed for the chemicals."

Imports in turn was driven by the manufacturing industry (chemicals, rubber, plastics, industrial machinery, etc.).. "Imports are also rising, particularly since the European Union (Ireland, Germany, UK and Netherlands), 'the Customs.

For the first time in ten years, a television advertising campaign will promote the merits of LU. So far, the leader in biscuits in France (acquired in 2007 by Kraft Danone), reserving his campaigns to his blockbusters (Prince, Pepito, Granola …), while no fewer than 40 brands. LU is now expressed in new spots. The biscuit can more effectively support its entire portfolio. In 165 years, LU also offered its first facelift in a decade. On the packaging of its 250 references, the red and white logo LU, more massive, with its slender letters, has taken over the product names. The cookies, wafer Paille d'Or at the Pooh Lulu, are now intertwined with the logo, to better capture the attention of the consumer.

Tea and restart Chamonix, marks 'forgotten'

"In recent years, Kraft's strategy has been to support the products, the brand LU was only there as security, acknowledges Chrystel Barranger, Vice President, Marketing Kraft Biscuits Europe. We must allow all to grow our portfolio, including brands such as Chamonix or Tea forgotten. "The food giant hopes to fight against any erosion of sales. "We had to give back to LU acclaim without losing the consumer," says Delphine Cadoche, executive director of Red Dragon packaging, the design agency behind the new visual identity of LU.

As a result, the perception of the range changes by customers. "It's very efficient in terms of recognition rays", admires a competitor creditreport.This strategic rethinking of the visual identity of LU, prepared for a year and a half, was initiated in Chicago, headquarters of Kraft and then driven to Paris.

It was vital for LU. While the brand is purchased at least once a week by 60% of French households, with a market share of 25% behind the labels. But LU, which has the widest range, did not realize enough synergies.It must stand out more from its competitors in the minds of buyers and the radius biscuits, one of the largest hypermarkets: 424 references on average, over 15 linear feet …

"The goal of Kraft is to strengthen and exploit its market leadership based on a strong umbrella brand, says Jean-Daniel Pick, a partner in the firm OC & C. It is a strong trend in the food just like what was done with his own brand Nestlé. "If the group is gaining ground on the MDD for a year and a half, he must above all its blockbusters. In mind, the timeless Prince, the best-selling biscuit in France.

Kraft also plans to promote its LU biscuits, which account for more than half their sales in France, outside its borders. But some best-sellers should be marketed outside the Hexagon logo without LU.Pepito and ready to go out in Europe under the emblem of Milka, another brand of Kraft.

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After playing in the red much of the session, the Paris Bourse rose in the green after a good figure on the activity in the industry in the United States. Then the enthusiasm has faded: to finish, the index ends, certainly on the rise – for the fourth session in a row – but she is shy (0.28% to 3265.83 points.

Having shown that wait-Thursday, and investors welcomed the announcement in mid-afternoon of a manufacturing sector still growing in August to the other side of the Altantic, while specialists' s expected to decline over the period. The announcement of a high relapse U.S. construction spending in July, reflecting the weak housing market has not dampened the optimism of the markets recovered this afternoon, somewhat reassured about the state the U.S. economy.Especially on the eve of the highly anticipated monthly employment report, the number of inscriptions hebdomadairres unemployed fell during the week to August 27, at 409,000 against 421,000 the previous week, said the Department of Labor (410 000 entries expected).

These new on the health of the U.S. economy and restore color to the dollar against the euro. To 17 hours, the European currency was worth 1.4263 dollars against 1.4374 dollars late Wednesday (-0.81%).

Indicators most disappointing in Europe

In the euro area, the final manufacturing PMI contracted in August for the first time since September 2009 due to a fall in output and new orders. The index calculated by Markit PMI final spring to 49.0 in August, against an initial estimate of 49.7 and after 50.4 in July.The German manufacturing sector slowed in August, including at its lowest in almost two years, to 50.9 after 52.0 in July. In France, the PMI industry has returned to 49.1 against 50.5 in July, an even sharper decline than that reflected by the flash estimate of 49.3 issued two weeks ago.

Also in France, the unemployment rate as defined in International Labour Office (ILO) decreased slightly by 0.1 points in the second quarter to 9.1% on average in metropolitan (9.6% including the departments of overseas), according to data seasonally adjusted (SA) Interim released Thursday by INSEE.

As for the oil markets, disappointing manufacturing indicator in Europe weigh on oil prices.At midday, a barrel of Brent North Sea crude for October delivery was trading at 114.04 dollars in London, down 81 cents from the close of Wednesday.

Values ​​to follow

Alcatel-Lucent

A pool of companies led by Alcatel-Lucent has been selected for the renovation and operation of computer networks and communications of the Air Force. The contract of 350 million spread over 16 years.

Banking

Greek debt is out of control and the measures taken by the government can not restore the finances, the report of an independent parliamentary commission on Wednesday. After suffering the first part of the meeting, the bank, however, have included: Société Générale advance of 1.65% to 54.37 euros, Natixis climbed 1.94% to 2.84 euros.But Crédit Agricole falling 2.08% to 6.67 euros and BNP Paribas down from 0.63% to 35.64 euros.

Peugeot: -0.98% to 21.12 euros, Renault: -1.22% to 27.99 euros, Michelin: -1.59% to 50.18 euros

The new car registrations were up 3.2% in August. But sales of SAP were down 3% and 1.4% of Renault.

Fimalac: + 7.36% to 26.26 euros

Fimalac accounted for more than 6% Thursday on the Paris Stock Exchange after the announcement of the sale of its Canadian subsidiary Algorithmics, specializing in software for the financial industry, the U.S. IBM.

Eramet: – 1.21% to 147.20 euros

The CEO of Eramet, Patrick Buffet, asked Thursday to New Caledonia guarantees the stability of capital and access to resources of nickel subsidiary of the archipelago, Société Le Nickel (SLN) cheap payday advance. Mr.Buffet made the requests in the renewal of the shareholders, linking Eramet-SLN since 2000 and the three provinces of New Caledonia.The latter hold through the STCPI 34% stake in SLN and 4% of Eramet.

Sanofi: 1.50% to 51.42 euros

The group reached an agreement with Pfizer to produce generic versions of Lipitor cholesterol before the star of the American group from falling into the public domain, writes Les Echos newspaper on Wednesday.

Total: 1.09% to 34.36 euros

The National Transitional Council (CNT) Libya has promised to give to France 35% of crude oil from Libya in exchange for recognition of its legitimacy Paris, Liberation reported Thursday.

Iliad: + 2.38% to 85.54 euros

The internet service provider reported in the first half of 231,000 new subscribers under its brand Free (excluding Alice), a market share of 36% and saw its EBITDA margin to improve by a , 4 point to 40%, or 416.4 million euros on sales of 1.04 billion (+2.6%).

France Telecom: + 1.43% to 13.349 euros

The U.S. administration has initiated legal proceedings Wednesday to block the sale of Deutsche Telekom's U.S. subsidiary T-Mobile to the giant AT & T for reasons of respect for competition.

Pernod Ricard: – 0.93% to 61.92 euros

The French producer of wines and spirits, announced Thursday a 10% increase in net profit for the year 2010-2011, exceeding for the first time the billion euros.

Eurazeo: – 1.07% to 39.23 euros

The investment company said Thursday in a loss of 106.3 million euros in the first half due to losses on derivatives and goodwill

GDF Suez: – 2.28% to 21.45 euros

The group said it had completed the acquisition of gas storage sites in Germany.

Eiffage: – 17.94% to 27.94 euros

The new CEO of the group does not preclude the sale or closure of loss-making subsidiaries to consolidate the early resumption of the performance of the construction group observed in the first half.

Saint-Gobain: 0.10% to 35.07 euros

The group announced it would invest $ 100 million (69.41 million euros) in the United States to create a factory specializing in the manufacture of ceramic balls ("proppants") used in wells oil and gas.

Latécoère confirms its objectives

Lagardère: – 11.11% to 21.16 euros

The group was forced to significantly revise down its forecast for operating profit for 2011 because of the difficulties encountered by the sports center in the first half.

Maurel et Prom: + 1.35% to 14.67 euros

The group took the first half of the increase in its oil production and high prices in oil prices to clear the results up sharply.

Guyenne et Gascogne: – 2.65% to 86.40 euros

The group reported a loss in the first half, the franchisee of Carrefour have been penalized by its subsidiary Sogara whose accounts were affected by several non-recurring items.

Latécoère: + 0.37% to 10.81 euros

The group, whose net income rebounded sharply during the first half, confirmed its targets for operating profit in 2011 and 2012.

Theolia: + 9.52% to 1.15 euros

The group reported Wednesday a recovery in its interim results, the French wind power has reduced its interest expense over the period, particularly through the conversion action of nearly two million of bonds.

After market, Neopost will publish its revenue for the second quarter and Stallergenes results for the first half.

Essilor International is innovative. According to the global glasses, "75% of wearers expect an anti-fog solution." To meet this demand, the group decided to create anti-fog lenses under the name of Optifog. This new "represents a disruptive technology," with a "layer with hydrophilic properties," said Essilor. With this new product, which is "all continents", Essilor International is "1.2 billion consumers worldwide."

Results aside, the mood is set fair. The group recorded the first half revenues up 6.9% to 2.06 billion euros and net profit up 30.7% to 258.2 million euros. Adjusted net income per share was 1.25 euro, up 9.3%.

Essilor attributed these results to the "increase in volumes related to the expansion strategy in high growth markets, the rapid development of the supply in the mid-range" and the "growth of industrial investment."

Context "increasingly uncertain"

These performances allow the group to maintain its growth objectives in sales "between 6% and 8%" (excluding currency and acquisitions, strategic) for this year, despite "an economic environment more uncertain." Essilor also wants to maintain the high level of profitability, excluding strategic acquisitions.

The specialist in ophthalmic optics says it "will continue to rely on innovation, operational efficiency and financial capacity to consolidate its position in the high end."The group also intends to "continue its conquest in the mid-range and benefit from the rapid expansion of high-growth countries."

At the Paris Bourse, this news is greeted coldly. In early trade, the title Essilor loses 0.11% to 53.07 euros in a market down 0.05%.

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The American and European leaders were under pressure Sunday to try to agree on a concerted response to the debt crisis in the eurozone and the degradation of the note of the United States. Front line, they seek to avoid further financial market plunge Monday, worried about the slowdown in global growth and spread of the debt crisis in the eurozone. Since Friday, so they stepped up contacts.

• Maintenance of imminent G7 finance ministers. Finance ministers of the G7, which includes the U.S., Germany, Japan, France, Canada, Italy and Britain, have stepped up telephone contacts this weekend in order to develop a common strategy to offer.After heavy turbulence in global financial markets, which lost 2,500 billion during the past week, they must reassure investors about the ability and determination of their countries to reduce deficits and public debts. A telephone conference of finance ministers and central bankers to be held Monday, according to Japanese news agency Kyodo. Interviews are tentatively scheduled before the opening of Asian markets (in the night from Sunday to Monday in Europe).

• A G20 focused on the debt. More broadly, the G20, which groups the world's major economies, contacted by telephone Sunday morning to discuss the consequences of the debt crisis on both sides of the Atlantic. Nothing had filtered from the meeting at noon.Only South Korea said that its confidence in the U.S. Treasury had not changed despite the decision of Standard & Poor's. "There will be no change in the policy of foreign exchange reserves of South Korea," said Vice Minister of Finance.

• The ECB will speak Sunday. Among the tracks in the study is a possible intervention by the European Central Bank, which could buy government bonds in Italy and Spain. This intervention is strongly demanded by the markets. The European Central Bank Thursday reactivated its share repurchase program of sovereign debt in order to calm soaring interest rates in some countries of the euro area, but has so far bought only small amounts of debt and Irish Portuguese, while speculation is focused on Italy and Spain.If the decision to intervene is taken, the ECB and national central banks will begin to redeem the bond markets open Monday. A meeting of governors will be held Sunday at 6:00 p.m. ..

• Nicolas Sarkozy met with David Cameron on Saturday. The President, who chairs the G7 and G20 met Saturday evening on the phone for thirty minutes of the financial situation with British Prime Minister. The two men "agreed on the importance of working together to monitor the situation closely and keep in touch in the coming days," said a London spokesman for Downing Street, without giving further details. The discussion between the two leaders has focused on his view "the euro area and the lowering of the rating American."

• Barack Obama apple Europeans Friday night.According to the White House, Bush spoke by phone separately with President Sarkozy and German Chancellor Angela Merkel about "the latest developments of the crisis in the euro zone" and noted "the importance of [the] implementation "of measures adopted at the summit of the euro area on July 21. The leaders of the eurozone had concerted Friday after finding that the agreement found to cope with the debt crisis had not convinced the markets. If Italy and Spain are at the heart of the turmoil, other countries are also affected such as Belgium.

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After Bouygues Telecom and SFR, it is the turn of France Telecom to engage in the battle of the low-cost mobile phone with a new brand, Sosh. The announcement, made in conjunction with the presentation of interim results of the group, aims to address "the intensity of competition" and prepare "the arrival of the mobile Free," according to the admission of the CEO France Telecom, Stéphane Richard.

Sosh will mark "all digital", only sold on the Internet. If have to wait until September for details and more particularly the rates, Stéphane Richard said it would be a "soft offer, without commitment," which will decline "two kinds of attractive packages in price ", available with and without mobile terminal.Sosh, whose name is "a nod to the term" social network ", wants to build on social networks and user communities, said Stéphane Richard. It offers a low-cost but not low value. "

With this brand, France Telecom follows the lead of its competitors. SFR was the first to lead the way in June 2010 with its "economic advantage". The operator proposed a package on average 10 to 20% cheaper if the customer subscribing or purchasing retaining also his mobile. A year later, at the launch packages "Square", SFR explained that 15% of subscriptions were dry, that is to say without a telephone.

In early July, Bouygues Telecom has taken a step forward in the world of low-cost brand by launching the first low cost of a large operator.The two packages of "B & You" (our editions of July 5) are attractive, for example, 24 payday loans.9 euros per month for calls, SMS, MMS and unlimited Wi-Fi 24/24, but that a terminal it is associated.

Reduce subsidies

The recent popularity of telecommunications operators for low-cost offers several origins and first of all the expected arrival of Free, renowned for its ability to break the established codes. Whereas in 2012, its competitors are afraid to see him land in October 2011, with rates very low, just like what he has done over the Internet, with the first offers to 29.99 euros. There is also growing competition from virtual operators (MVNO).Finally, the increase in the price of the terminals has also forced the operators to review their business model.

Until now, to lure new customers or retain old, operators put forward the phones heavily subsidized. But the development of smartphones has changed the situation, with the arrival on the market for phones with more than 600 euros 149 euros … sold by subscription.

If operators and manufacturers refuse to disclose the sale price of "professional" and therefore the exact amount of the grant, it is the secret that the cost of acquiring new customers is a clear tendency to increase.The development offers low-cost in telephony, which are essentially free subscription offers mobile, could however not be sufficient to reverse the trend.

Consumers, especially the French are, by the admission of Stéphane Richard, very attached to offers of renewal.

Philip Carli, who arrived in October 2010 within the Amaury group, wants to make Paris Aujourd'hui en France "a reference to the national daily press and local cross-media in France."

LE FIGARO. – What is the content of the proposed stimulus package you presented yesterday to the employees of "Parisien in France today?"

Philippe CARLI. – We have decided to invest 30 million euros to develop and diversify our offer. This choice results from the observation that 80% of our revenues come from sales to the number. We must therefore meet the expectations of our readers. The objective is to increase our revenues of 100 million euros on the brand Le Parisien in France today. To retain and expand our audience, we plan to invest ten million euros, with, among others, the creation of a weekly magazine offers.Coupled with the daily on weekends, it will include in the second half of 2012, a news and lifestyle magazine picture of a hundred pages. In a second step could be added a weekly edition of our monthly enriched La Parisienne.

And for everyday?

Besides the fact that the model will be upgraded with a passage of 64 full color pages, we wish to reaffirm our commitment to strengthening our close nine departmental editions (eight departments of Ile de France and Oise), representing 49% of our sales. We plan to increase their editorial pagination of 50% and increase local resources, including rich media. Finally, to be closer to the cities and communities, we want to enter into agreements with associations, clubs and municipalities.A manager of the communities would be created for each edition.

You also mentioned before the diversification of employees …

Indeed we expect to invest 20 million euros in acquisitions of companies specializing in electronic transactions, including trade between individuals, group purchasing, or even the classifieds. We are also interested in human services.

The envelope of 30 million euros, also includes capital expenditure?

The journal's editorial changes will be accompanied by a modernization of two of our printing presses Saint-Ouen, where we have modernized our mailroom at a cost of 3 million euros. In addition, we invest in our management tools related to our subscribers, our readers and clients.30 to 35 million French people each month are in contact with one of the hallmarks of our group (Le Parisien in France today, the team, Amaury Sport Organisation). It's time to capitalize on these contacts by imagining new offers for our subscribers. I am convinced that this is a very strong leverage income.

Where are you in the digital convergence of your editors?

If there is one place where it is well advanced, it is in our county editions, where journalists play the game But there is still room for improvement, including better integration of information flow and anticipate events . In terms of organization of the group Le Parisien, five major areas should be established, bringing together existing services around cross-cutting issues – news, entertainment and sports – and two that would be created – investigation and image.The realization of any newspaper should be linked to art direction and a cross-media desk would also be created to handle all information and redirect them to different media.

This major reorganization will she downsizing?

It should actually result in the removal of items from 40 to 50 of the 600 employees that has Le Parisien. But I said that my desire is to avoid forced departures. We want to set up a voluntary redundancy plan the details of which will be discussed with the social partners in September.

What functions are involved?

Mainly managerial functions, simplifying the hierarchical organization, and positions related to the achievement of the newspaper.The creation of new centers, in particular survey and image, is expected to provide opportunities in writing to some of those involved. Scribblers writing should not, however, be affected.

On the branch Amaury Sport Organisation (ASO), what are your plans?

We will continue its internationalization. Several opportunities are being explored. We will support the development of ASO in South America, including Brazil, where we opened a subsidiary in late 2010. But also in Spain, where we took a significant stake in the Vuelta, the Tour of Spain. We also plan to organize events around the bike in Qatar and Oman. Discussions are also underway for events in China.

France is she affected by the German outbreak of food poisoning linked to contaminated cucumbers starting to spread in Europe? If it is too early to say with certainty, the French authorities announced Saturday that three suspects were "under investigation" in France. In a joint statement, the Ministries of Economy, Health and Agriculture indicate that the investigation is linked to "the German outbreak.

Germany is in fact the first country to have been affected. Health authorities have identified 60 cases in recent days, bringing the total to 276 people. At least two people died and three other suspicious deaths are still under analysis. In the rest of Europe, some twenty-five cases were recorded in Sweden, seven in Denmark, three in Britain, two in Austria, one in the Netherlands and Switzerland.The bacterium is called into question the E. Enterohemorrhagic E. coli (EHEC), potentially fatal, causing bleeding in the digestive system and can damage the kidneys.

French departments have added Saturday that a lot of cucumbers as suspicious, "was delivered in French territory" but that his "withdrawal from the market was immediately asked." The three suspects to cases found do not seem related to this particular lot. The French authorities argue that "the monitoring device has been enhanced in conjunction with the Institute for Public Health" and that "Health professionals have also been sensitized, so that they detect and report any cases on national territory .

Saturday night, Health Minister Xavier Bertrand has warned against any "form of panic" against the risks of some cucumbers."From the moment we do not use this cucumber, there is no risk and the tragedies that could occur in Germany," he said when issuing Revised and corrected on France 5 Low fee payday loans.

French producers fear an amalgam

"Initial investigations conducted by the German authorities concerning the origin of this epidemic food guide to cucumbers imported from Spain, also indicate the Directorate General for Consumer, Competition and Repression of Fraud (DGCCRF ), the Directorate General of Health and the general direction of agricultural policy, agribusiness and territories. In Spain, samples from farms in the south, from where the cucumber on which the bacteria had been detected, were sent to a laboratory in Galicia. The first results are expected Monday.Both distributors suspected of exporting contaminated cucumbers continue their activity, said Saturday the Andalusian, contrary to what was announced Friday night Brussels.

The European Commission had indicated that the Germans were testing to see if the contamination had not occurred elsewhere in the distribution chain. The bacterium is usually transmitted by direct contact with animal feces.French health authorities recall also the usual hygiene rules: Wash hands before meals and after using the toilet and on fruits and vegetables, wash, peel or cook them before eating, transmission of the bacteria being almost entirely swallowed.

For their part, the French producers of cucumbers already fear a "mix" between production prejudicial French and Spanish. In a statement, they stressed that "the conditions of French production has nothing to do with those used in Spain as an environmentally and socially."

(With AFP)

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