Its facade that gives pride to the larch and its roof like helium-filled, the shopping center that opened Wednesday in Lyon in the new district of Confluence is not like normal plants for sale. Nevertheless, this shopping venue which has 102 stores spread across 53,000 square meters will have to meet quite a challenge. Prove that at the merchant web booming and consumption lowered, the formula is not exceeded. Find its place in a commercial landscape Lyon already quite saturated with 267 shops including La Part Dieu and 85 stores in Ecully fifteen minutes by car. Show that a new center can succeed while the latest openings, especially the Millennium in Paris in 2011 – are not successful.  

To top it off, the latest Unibail is located in a brand new neighborhood with 10,000 new residents already … but where Lyonnais have not yet used to come. A context that does not prevent Guillaume Poitrinal, CEO of Unibail to found great hopes on Confluence. "After three or four years, this center should achieve a turnover of 200 to 250 million with seven to eight million visitors," said he. For comparison, the center of Nice Cap 3000, considered one of the most efficient outside the Paris region reached 450 million euros in annual sales.

Apple Store in gondola

To take his bet, Unibail, which is the leading commercial centers in Europe, here applies the recipe that made its success elsewhere. A large dose of strings prevalent but unavoidable (Zara, Etam, C & A, Grand Optical, Franck Provost …), a pinch of signs that create events (Apple Store, Hollister, California clothing brand of Abercrombie & Fitch) and several newcomers in France and the Spanish brand apparel SuiteBlanco Specialist Portuguese decoration Loja do Gato Preto guaranteed online personal loans. In addition, it adds some local brands such as qualitative Cellerier catering, library Decitre Galix or shoemaker. Obviously, there are a hypermarket (Carrefour one) but small (4500 m). However, there is no distributor of home appliances or TV-type brown goods and computers. No trace either of stores that sell CDs or DVDs. "It's a choice: Today, consumers buy these products online," said Romain-Lavignie Molho, director of the Lyon Confluence.  

Instead, Unibail has developed the leisure part: the second floor is a multiplex with 14 theaters but also a climbing wall, spa and restaurant offers a larger than usual. Of fast food like McDonald's, Starbucks coffee as well as the more upscale chains such as Italian or American Fuxia Razowski. Moreover, to make shopping more enjoyable, Unibail has treated the architecture of the place. Part of the center is open air, in the other part, the transparent roof lets plenty of light, and in public areas, natural ventilation avoids air conditioning, inconsistent with the principles of sustainable development . An approach designed by architect Jean-Paul Viguier, known for directing Heart Defense, the largest office complex in Europe, located in the business district. The coming months will tell whether these efforts will restore the taste of consumers to buy badly shaken by the crisis.

ALSO READ:

"Small shopping centers for sale

Two figures sum up the vise where is Spain: 27.3 billion euros to make cuts in the 2012 budget, equivalent to about the burden of Spanish debt this year, namely 28.8 billion. The "most austere budget of democracy", according to Minister of Finance, is primarily designed to reward creditors, to recover "trust" markets. Since the presentation of the general budget last Friday, the heavyweights of government do not hide their discomfort. "The situation is limited," says the finance minister, Cristobal Montoro, while the public debt of Spain will increase from 68.5% of GDP in 2011 to 79.8% in 2012, its highest level for twenty -two years.

A lose-lose situation

The leader of the Conservative government, Mariano Rajoy, has been a little further on Monday during a speech to executives of his party. "If you do not pay back, nobody's ready again. It is not an academic exercise. Everyone knows what happened to some members of the European Union. For that one you must finance that we have confidence in you, in your ability to repay. This is what concerns us. "The allusion to Greece, Ireland and Portugal, within the scope of a plan to help Europe and the IMF, is barely concealed.

The Minister of Economy Luis de Guindos, drove the nail in an article published Tuesday by The Wall Street Journal. "From a fiscal perspective, the government faces a lose-lose situation. If you do not reduce the budget enough, the markets penalize you. But if you go too far, markets can also penalize you, "he said.

Reform of labor law applied

The dangers of austerity needed to restore the credibility of the accounts, but perilous for growth, are denounced by long-time economists. No minister, however, had also clearly expressed his dismay at this square the circle.

The government is now ready to laying bare the gravity of the situation. It is to accept unprecedented budget cuts, while unemployment continues to rise: 39,000 people lost their jobs in March, the first month of implementation of the reform of labor law, revealed Tuesday that the services of employment. A perilous exercise, the same day that unemployment figures are published, the executive announced that the funding policy for employment is reduced by 21.3%.

From the details of the budget presented Tuesday, the departments will have their expenses down 16.9% on average. A figure that masks important disparities. Foreign Affairs and Cooperation, for example, will accept reduced funding by 43.6%. At the other end of the chain, the Interior Ministry's efforts will be limited to 4.3%. Montoro said Tuesday its three priorities: "the deficit, the deficit and the deficit." Growth, she will wait.

Portugal: no second rescue, said Brussels

The reforms adopted by Portugal to consolidate its public finances are on track and the country should be able to borrow again in the markets in 2013, as planned, said Tuesday the Commission européenne.Le Portugal benefited from a bailout of 78 billion euros over three years allowed by the EU and the International Monetary Fund after seeing its rate bonds climb to an unsustainable level of debt for the country, whose growth is affected by a low competitiveness. This aid package was not fully reassured investors, some fearing that Lisbon does not follow the way of Greece requesting a new bailout that could mean losses for creditors of the private sector.

ALSO READ:

"Spain adopts a budget on historical accuracy

"France: debt rises to 1.7173 trillion euros

"The ECB remains savers to save banks

The seventeen countries of the euro reached an agreement Friday to raise 500 to 800 billion euros their "firewall" against financial crisis. Germany has dropped the ballast, but the compromise is far from meeting the expectations of the European Commission, IMF and OECD.

The envelope, which represents a theoretical capacity of loans, includes three components: 500 000 000 000 ahead for the European Stability Mechanism (SPM) which will be launched in July, 200 billion already committed by the temporary fund established in 2010 (EFSF) and 100 billion in loans already spent or pledged various EU.

This elaborate structure – and perhaps questionable because it mixes future and past – allows everyone to say it held its position. For Germany, it was essential to avoid having to raise the ceiling of the MES to avoid another vote in the Bundestag. Wolfgang Schäuble, the favorite in the race for the presidency of the Eurogroup, but agreed to keep alive a year for the EFSF, which temporarily inflate the pot.

In contrast, those that grew as the French Baroin a figure of around 1 trillion, did not get satisfaction. Discussed in Copenhagen, the project of an additional tranche of 240 billion to be used "in exceptional circumstances" has disappeared from the final declaration of the Eurogroup. Here too, Berlin has been successful. But the question remains the strength of the new "firewall" in the event of a major financial accident, involving, for example Spain or Italy.

ALSO READ:

"The euro area concerned new markets' growth remains fragile in the euro area

Sources: Potentialpark

In China, the Hang Seng in Hong Kong ahead of 2.27% to 19,571.36 points and the Shanghai composite index of 1.82% to 2526.15 points.Securities Want Want China Holdings Ltd (7.85% to 7.56 Hong Kong dollars) and Tingyi (Cayman Islands) Holging Corp (1 paydayloan.91% to 21.30 Hong Kong dollars) will be integrated into the index Hang Seng early December.

The markets also monitor developments in euro area at the front of the sovereign debt crisis. In Italy, former European Commissioner Mario Monti has been appointed new Prime Minister last night and must form a new government who will redressser the country's finances.

Tokyo ready to increase its aid to Europe

Japan has also said this weekend be prepared to increase its financial aid to Europe when the European countries have expressed their willingness to fight against their debt problem with a united front.

In the afternoon, the Greek government ministers had submitted their resignation at the request of George Papandreou, who, during an extraordinary cabinet meeting, said goodbye to his staff.

Negotiations behind the scenes

Behind the scenes, negotiations continued Tuesday for the second consecutive day between George Papandreou and the leader of the Conservative opposition Antonis Samaras to reach an agreement on power sharing and the appointment of a consensus prime minister. Sunday, the socialists of PASOK George Papandreou and the main opposition New Democracy had agreed to make way for a unity government after intense negotiations. George Papandreou was also committed to leaving office after two years in power.

For its part, the European Union on Monday called on Greece to write a letter committing to the implementation of the European rescue plan.

Only 5,000 young people benefited from the end of 2010 RSA. Less than a third of the number of recipients while working. Ten months after the declaration of the Minister, the objectives are still not met and no corrective action was unveiled.

According to the latest scores (end June) and Le Figaro has procured, 10,200 youth aged 18 to 25 years are now affecting the RSA Young.An increase of 100% of beneficiaries in a little over a semester, but a figure still well below the initial target of 160,000 to 200,000 posted in September 2009. In 80% of cases, the RSA is nothing but a supplement to earned income which grew by an average of 130 euros per month.

Roselyne Bachelot took his time

"It was the objective of the measure, objecting a ministerial adviser: providing additional income to young people active." And not, as had been hammered in September 2010 Marc-Philippe Daubresse, then in charge of its implementation up to the government to "create an assistantship grant for youth."Less than a year after the extension of the RSA to 18-25 years, only 2000 young people (who worked two years in the last three and no longer receiving unemployment benefits) affect, in fact, just the RSA base, income Replacement of just over 460 euros per month.

As for Roselyne Bachelot, his silence is easily explained according to his entourage. Given the complexity of the case, the Minister of Solidarity decided to give some time to analyze the reasons for the low rise of the device. "The subject is by no means abandoned, we are assured Avenue de Segur. We begin to have a little more back and we will soon make announcements to that effect. "

According to reports, corrective measures will be announced before the end of the year, with six months behind the original schedule, most likely during the Review Conference of the RSA to be held December 15."Fill a folder is a gas plant for a young struggling to meet all the necessary documents," and advocates a relative of the minister should propose a simplification of administrative procedures. It is not excluded that the conditions for entry into the device, from the outset considered too restrictive by Martin Hirsch, should be reduced to allow more young people to benefit.

Above all, this damage should be responsible in large measure to the State, businesses and individuals, when insurers should take on a lesser share of the burden, said Chuck Watson, one of the leaders of Kinetic Analysis told AFP."Most of the structural damage will be caused by the rising water because of rain and coastal flooding. Yet this type of damage is not covered by private insurance, "said he.

The same applies to losses caused by the cessation of activity in areas relevant to the coast, or the cost incurred by the evacuation of hundreds of thousands of people payday loan no faxing. Thus, New York, usually hectic, has been transformed this weekend into a ghost town, most shops have closed up shop and residents have been urged to stay home. But there is no damage reported, insurance should not pay a dime to compensate their members.

Insurers expected to be down

Insurance companies, however, should see their value fall Monday at the New York Stock Exchange.On Friday, insurers Allstate and Travelers had fallen to the lowest levels for two years, investors anticipate the costs incurred by the hurricane for those companies.

The amount of the invoice should still be less than initially estimated. Thus, Kinetic analysis was planned on Friday that a tornado could generate over 12 billion euros of damage if it hit New York at the height of its intensity. Finally, she was demoted to a mere tropical storm, with winds still 100 km / hour. These amounts are in any case of a different order of magnitude as the colossal damage of about $ 100 billion registered during Hurricane Katrina in 2005.

But everywhere, the sessions have been very volatile in trading volume lower than the previous day (4.84 billion euros in Paris). The CAC 40 is thus fell into the red immediately after opening up 0.17%. It still yielded 1.59% in morning before rising slope, and show an increase of 2.09% to 3154 points in mid-session.Around 16:15, the Paris index gained 2.76% to 3174.79 even despite the publication items, across the Atlantic, two mixed macroeconomic statistics that have held, at the time, the enthusiasm of investors in New York.

Retail sales in the U.S. in July and were up 0.5% (after 0.3% in June), but the U.S. consumer confidence has it, fell in August. According to an index released Friday by the University of Michigan, which stood at 54.9, its lowest level since it is established, either since 1966. This drop has surprised analysts who had forecast a smaller drop to 62.5.

Also on the macroeconomic front in France, INSEE reported that morning of zero growth in the second quarter in France (0.0%), against an increase of 0.9% in the first quarter.Inflation also slowed: the consumer prices fell by 0.4% in July, resulting in an increase of 1.9% over the year (against 2.1% from June 2010 to June 2011 ).

Loss of "only" 2% for the week

In this complicated context, investors have therefore decided to continue the rally started yesterday. A decision that allows the CAC 40 to close the week on a loss of "only" 1.97%. The decline could have been stronger if the Monday falls (-4.68%) and Wednesday (-5.45%) had continued. This week in the mountains Russia was marked by extreme market volatility and the fall of the CAC 40 index below the psychological 3,000 points.

Investors have gone up the hill on Thursday and Friday, finally reassured by the announcement of a meeting between Nicolas Sarkozy and German Chancellor Angela Merkel on August 16 to issue joint proposals on the governance of the euro area.

Bank stocks rebound

With the ban on short selling in the securities of eleven banks and insurance companies to counter the extreme volatility of the stock market values, the sector could continue to rebound Thursday in the image of Natixis (9 , 22% to 3.11 euros), the largest increase in CAC. Societe Generale (5.65% to 24.30 euros), Axa (4.65% to 10.91 euros), BNP Paribas (4.21% to 37.22 euros) – has issued a statement Thursday night to reaffirm the strength of its own funds – and Crédit Agricole (2.10% to 6.51 euros) below.

Carrefour climbs more than 6%

Other values ​​of the day, Carrefour pulls out of the game: the title ahead of 6.33% to 19.07 euros. U.S. giant Wal-Mart have mandated UBS to investigate the acquisition of the Brazilian subsidiary of French retailer, according to Reuters citing a source familiar with the matter.

Goldman Sachs lowered its recommendation on Lafarge (1.12% to 29.34 euros) and withdrew the title from its list of recommended values ​​in priority to the purchase.The intermediary has instead built his list to Saint-Gobain (5.73% to 34.67 euros) and Vinci (3.58% to 35.70 euros).

Europacorp (3.75% to 3.32 euros), the production company of Luc Besson, Thursday reaffirmed its goal of a return to balance for the current year, despite a sharp decline its turnover in the first quarter.

Derichebourg (1.05% to 3.56 euros) on Thursday confirmed its target of improving its annual net income, after recording a sharp increase in sales over the first nine months of the year.

ALSO READ:

"Short sales suspended

"French banks in the spiral of fear

"What rating of France deserves it for his debt?

According to final figures, the Dow Jones Industrial Average was awarded 42.61 points to 12,479.73 points and the Nasdaq, dominated by technology, 27.13 points to 2789.80 points. The broader index S & P 500 has been 0.56% (7.27 points) to 1316.14 points. For the week, the Dow lost 1.4%, the S & P 500 fell 2% and the Nasdaq 2.4% sold. Thursday, Wall Street has ended in the red.

The session was extremely volatile, the Dow swing most of the day around the equilibrium point. But given the macroeconomic situation, anxiety is high.Some problems have been resolved in Europe on sovereign debt, and there is debate on the debt ceiling to U.S. Unis.La threat of Standard and Poor's rating on the United States and comments from the Fed has dampened hopes of new measures to support the economy. The issue of U.S. debt should again be a central concern of investors. The negotiations started on the subject by U.S. President Barack Obama with the Republican opposition are currently deadlocked, Republicans a majority in the House of Representatives refused to vote an increase in attacks and demanding that the deficit .

Finally, sovereign debt in the euro area will remain a central concern. An EU summit is the convoué jeudi21 July, suggesting that Europeans are close to an agreement about the development of a second aid plan in Athens.

In the current environment of heightened uncertainty about the public debt in Europe and the United States, gold is looking for: the metal-King reached a new record yesterday to 1594.45 dollars. He backs up slightly this matin.Les Oil prices rebounded sharply Friday after the sharp fall of the previous day, after a week volatile in an economic environment that remains mixed. On the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for delivery in August finished at 97.24 dollars, up $ 1.55 from the previous day.

On the front indicators, the index of consumer prices declined 0.2% compared to May, seasonally adjusted data, while analysts expected a 0.1% decline, according to their median forecast .The activity of the manufacturing industry shrank in the New York area in June for the second consecutive month, according to the Empire State index released Friday by the central bank (Fed) remained negative at -3.8. Analysts predicted that this index, which had fallen sharply in the previous month to -7.8, ironed above zero, the boundary between growth and contraction. Industrial production is, it, in line with expectations, up 0.2% in June

Google the center of attention

The side of values, Google announced after the close having recorded an increase in earnings of about 36% in the second quarter of 2011, despite investments still rising in the world's leading Internet search. The title wins more than 12.98% to 597.62 dollars.

Citigroup (1.64% to 38.38 dollars) Friday reported a 22% increase in net profit in the second quarter to $ 3.3 billion (2.33 billion euros) against 2.7 billion a year earlier. The third U.S. bank by assets shows a profit of $ 1.09 per share against $ 0.90 a year earlier, while economists were expecting $ 0.96.

The day before, JPMorgan said it had done for the second quarter net income of $ 5.4 billion against 4.8 billion last year. Net banking income rose by 7% over the quarter and 6% in the first quarter to 27.4 billion.The title gives 0.92% to 39.98 dollars

Always on the side of values, Hyatt Hotels (1.17% to 39.73 dollars) has announced the acquisition of a series of 24 hotels and assets attached for about $ 802 million from LodgeWorks and a group of capital investors. The transaction should generate an increase in operating income for the group of about $ 50 million from 2012.

The Board of Directors of Ralcorp Holdings (-0.72% to $ 86) has unanimously approved the principle of a split between Post and Ralcorp Foods.In addition, the company said to expect an adjusted earnings per share from 1.13 to $ 1.18 in the third quarter.

Also note, the Advisory Committee of U.S. health authorities (FDA) for oncology pharmacy issued a recommendation unanimously in favor of an accelerated approval process for Adcetris, a drug from the laboratory to Seattle Genetics treat Hodgkin's lymphoma. The title gives up 7.18% to 18.87 dollars.