Monday, a subsidiary of GDF was again surprised by a decision which comes just two years after the government's decision to extend by ten years the three reactors mentioned above. Extension in exchange for which GDF Suez has to pay 245 million euros a year, a tax that Brussels wants to climb to one billion euros. Ironically, ten days ago, GDF Suez had threatened to shut down in advance the three reactors in protest against the increase No teletrak payday loan.

Facing the new situation, Electranel also said it will consider "the possibility of redirecting investments it plans to extend to these plants, or nearly one billion euros to guarantee the future security supply its customers. ".

International ambitions

The quality of its nuclear tool in Belgium allowed GDF Suez to establish its claims internationally.

Earlier this year, the MDD had continued to lose market share (down 0.4 points from January to May). But the trend has reversed this summer. From June to September, the MDD show an increase of 0.4 percentage points, according to SymphonyIRI. This growth could reach 0.5 points throughout the second half.It concerns mainly the heart of the range and not the premium private label, or, more surprisingly, the first price ranges.

Click on the thumbnail to enlarge the graphic.

After rising steadily since their inception in the 1970s, sales of private label had marked a halt for nearly two years, even though the distributors did not cease to give them more room on their shelves. In 2010, domestic brands have responded. With a lot of innovations, promotions, advertising campaigns and price cuts, Danone, Nestle, Coca-Cola and Unilever have then taken the field. So, while Leclerc marks usually represent 35% of sales of the brand, this share fell below 30% during the past year.National brands benefited, at the time of price stability, conducive to buying, and saturation of consumers to the overrepresentation of MDD in radii.

But since the spring, the price increase, following the surge in raw materials, has changed all that. Carrefour to pass on increases in the month of March, after the conclusion of negotiations with suppliers. Other retailers have waited until June Between January and May, the rise in prices has been limited to 1 payday loan.3%. But between June and September, it reached 3.5%.

Descent line

As a result, the constraints of purchasing power of the French took over the top, recalling – to a lesser extent – the situation in 2008.At the time, in a crisis of raw materials, private labels have gained two points of market share, while the level of inflation was nearly 5%.

Household expenditures have dropped from the month of May, before returning in August. "The French have entered a period of rigor in their daily consumption, Jacques Dupré analysis. They limit their spending on products they do not deem necessary and buy fewer products pleasure as confectionery and ready meals. "

Rather than give up certain purchases, more and more consumers prefer to go further upmarket. The shopping basket of many homes has changed significantly in recent months.

This type of buying behavior explains why the MDD leave as soon as the product categories most inflationary, such as coffee, flour or oil.Flour to the radius, where prices rose 10.6% from June to September, their market share rose 3.4 points. This increase reached 5.7 points for milk. Addicted to coffee, whose prices rose 18.5% year on year (to September), have not so far decided not to. They are likely to have delayed their spending to private label which gained nearly a point of market share (June-September). Even if the prices of private labels grew faster than those of manufacturers: 24.9% of private label coffee, against 16.6% for national brands. Product prices in the colors of distributors, however, remain 20 to 30% lower on average.

The giants of agribusiness, penalized by this new, must react quickly to achieve their business goals.

Groupon refused to sell to Google last December for $ 6 billion. From Monday, October 24, the company of Chicago, specializing in online distribution of discount coupons for shopping in local markets, should make its IPO on the basis of a valuation of 10 to 12,000,000,000 dollars . However, it is far from the capitalization of 15 to 20 billion, of which Andrew Mason, founder of the company was still dreaming in June.

Several developments have forced Groupon to be more modest. The first hit all companies eager to use public savings. This is the market collapse in August. Investors, fearing a relapse of major economies in recession, are much more circumspect.The proposed IPO of Groupon had been suspended between August and October.

Even more problematic for Groupon: missteps have troubled his potential investors. On the intervention of regulatory authorities, the firm three years old had to revise up sharply the amount of its actual expenses. She had initially forgot to include online advertising spending to acquire customers. And without the investment of 432 million over six months, she could never show a turnover of 688 million.It is only through this aggressive marketing Groupon also have accumulated more than 115 million subscribers and more than ten-fold increase in sales in one year.

Affected by other accounting blunders – including the inclusion in its sales revenue and then transferred to merchants – the CEO of Groupon, Margo Georgiadis, resigned after only six months on the job easy payday loans. It has not yet been replaced. In addition, Groupon has to convince that his model is viable and that the start-up can stand up to the strong competition rages, especially from Amazon, Google and industry experts as LivingSocial. For now, Groupon is the industry leader – an advantage that distinguishes all Internet companies tempted by the Stock Exchange today.

Sunrise 500-700000000

But stay number one requires a considerable investment.Number of traders attracted by its staff are aware of the experience that customers quickly drawn into their shop with coupons do not necessarily come. To remain attractive to merchants, Groupon and peers rely on the creation of thematic niches (travel, babies, etc.)..

All this explains why Groupon not trying at first to rise from 500 to 700,000,000 dollars. If strong demand materializes, it could go further, or wait a few months and get a higher valuation. Advised by Morgan Stanley, Goldman Sachs and Credit Suisse, Groupon could also benefit from investors' appetite for Internet stocks. Of Zynga Facebook, candidates are numerous, but few have passed the time.

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Prime Minister of the Guide, he was the architect of the return of Libya in the comity of nations before being dismissed in 2006. He had the good sense to defect in May, and moved between Vienna (OPEC headquarters where he has long represented his country) and London.It was at Vienna that Chokri Ghanem was the guardian of one of Gaddafi son, Seif al-Islam, which was regarded as before the rebellion, modernization.

With this pedigree, the diagnosis of Ghanem on the prospects for black gold in Libya was carefully listened to by the cream together oil on the edge of Hyde Park. He said Libya will not return to its level of production before the war (about 1.6 million barrels per day) prior to eighteen months while the production may rise to 350,000 barrels a day currently to 500,000 in the coming weeks .

Workers protest

More than massive destruction, looting Ghanem evokes parts and piping of oil installations. Two thousand and 4×4 have gone, stolen by the rebels or simply stolen. But the main problem, according to the former official, is the lack of security of oil fields.Added a new unimaginable before the war: the oil workers increasing protests and claims.

A fellow Ghanem, Abdallah Salem el-Badri, the current Secretary General of OPEC, also present in London, is more optimistic. He expects a return to 1.6 million barrels per day within a year. Neither of the two Libyans anticipate any changes in short-term contracts with the "majors" Foreign strong support for Libya.

Chokri Ghanem there a future in the new Libya? "I do not think it's a good idea to go," says the former "Mr. Oil" Gaddafi by announcing months of instability. Far from Tripoli, he just turned 70 years old and aspires to peace.

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Sunday morning, Finance Minister Didier Reynders has indicated in an interview to the channel RTBF, as Belgium does not redeem all of Dexia Bank Belgium (DBB), the Belgian entity of the bank on track to be dismantled. "The state will rise sharply in power. If we were 100% (in the capital of Dexia Bank Belgium), I do not rule, we do not intend to stay indefinitely.This does not mean that we will stay three months or six months, "he said.

Given the scale of the debt crisis, "I do not exclude that in three years, five years, maybe more, we are still present" in the capital of DBB, the retail banking business of Dexia , said the minister.

The pattern of the decommissioning of the Franco-Belgian bank Dexia today favors nationalization of the Belgian entity and the creation in France of a new bank dedicated to local communities.

Board in 15 hours

The board of Dexia, the first victim of bank debt crisis in Europe, will meet this Sunday at 3:00 p cash advance no fax.m. (1:00 p.m. GMT) in Brussels, said a spokesman for the institution.

It will have to decide on the decisions taken by France and Belgium to break up the Franco-Belgian bank, in big trouble.A meeting will be held in Brussels between pre-Yves Leterme and François Fillon, the Prime Ministers of Belgium and French, in an attempt to complete the dismantling of Dexia.

The meeting between the heads of government must be "at lunch", told AFP a source close to the negotiations. However, no details were provided on the venue.

A Luxembourg delegation will also be present during these exchanges, while an international investor has manifested itself this week to resume the Luxembourg branch of Dexia present in the retail banking and asset management."We are ready to enter the final stretch of negotiations," said Saturday night the Belgian Prime Minister in charge of current affairs, following a limited cabinet meeting devoted to the case Dexia.

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The ministers of the Eurogroup, however, managed to find a compromise with Finland, the day after his election, had demanded of the counterparties to its participation in the second aid plan Greece's 109 billion euros decided July 21 last. Thus, the collateral will be provided in exchange for loans to Greece, said on Tuesday the Finnish government.

Efforts required to Greece

• The Eurogroup requires additional budgetary efforts of Greece, who said the day before not being able to meet its commitments to reduce its budget deficit."We call on Greece to take additional measures" in terms of savings for 2013 and 2014, thus going beyond those that have just been announced for this year and next, warned the president of the Eurogroup Jean-Claude Juncker. The euro area also recommends Athens to undertake more privatization of companies.

Increase the contribution of banks

• The President of the Eurogroup has also raised the possibility to contribute more financial rescue banks from Athens. Institutions might also undergo a discount greater than 21% of their claims previously considered Greek. There will be "technical revisions" on the subject from what was decided on July 21, he said.But Jean-Claude Juncker warned that "the involvement of the private sector, we must take into account the fact that we have experienced changes since the decision of July 21."

New missions Stability Fund

• And the ministers have suggested to increase the firepower of its Financial Stability Fund (EFSF). Ministers plan to make the fund more "efficient", as demanded insistently the U.S., but refuses however to increase its volume. This fund could help and use of leverage.

In this way, the mechanism would be allowed to use debt to leverage its ability to act. Several scenarios are circulating, the EFSF could turn into a bank that would finance itself from the European Central Bank (ECB).It could also act as an insurer from the holders of debt and cover their losses at 20% to 25%. Options involving the ECB should not be privileged ones, said Jean-Claude Juncker, without giving details.

The Eurogroup is reassuring

After the meeting, ministers have played the card of appeasement. The Eurogroup President said that Greece would be "able to fulfill its obligations" financial. He reiterated that a "failure of Greece will be avoided, adding that a person contemplates leaving Greece in the euro area."

He says that "final decision will be taken in the month of October" based on the findings of the creditors of Greece currently deployed in the country. The meeting between Nicolas Sarkozy and Angela Merkel in Berlin on Sunday planned should also do more advanced discussions.The Franco-German meeting will also prepare for the forthcoming European Council and the Eurogroup meeting on 17 and 18 October in Brussels.

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Everything came together last week to blow away the gold: a warning from the Fed on the U.S. economy, disappointing indicators in Europe and China and a worsening debt crisis in Europe. And yet, the yellow metal has not taken advantage of the panic in equity markets, stopped in its tracks by pushing the dollar that followed the speech by the Fed. For it is the greenback, this time, which used its safe haven status: he flew Thursday to its highest level in eight months against the euro. But the inflation of the dollar makes it less attractive purchases of dollar-denominated metals, like gold.This increase also decreases the value of gold, pushing the funds and investors looking for liquidity, to abandon their positions on the yellow metal to cover losses in other markets.

Thursday, these two factors have reduced the metal king of 90 dollars. Friday, it sank below the threshold of 1,700 dollars per ounce at meetings, in 1666 dollars, its lowest level since early August. On the London Bullion Market, he finished in 1689 dollars at auction in the evening. Since its record high 1,921.15 dollars in September 6th, he gave up more than 10% of its value. But observers remain confident in the ability of gold to rebound.In addition to strong Asian demand, low interest rates charged by the Fed would still enjoy it, because gold is a good safeguard against inflationary pressures that may arise.

In the wake of gold, precious metals industrial markets have collapsed. The money collapsed by 17% over the week to its lowest level since May He finished Friday at 32.90 dollars per ounce. On the London Platinum and Palladium Market, an ounce of platinum finished the week in 1651 dollars, a drop of 8%, while an ounce of palladium finished at 659 dollars, down nearly 10%.

Dollar and oil pessimism saddled

Oil markets, there was also a before and an after Fed. Earlier this week, before knowing the content of the speech of the U.S. central bank, investors showed just cautious.The debt crisis in Europe and global growth forecasts revised downwards by the IMF in any case not an incitement to rise. Tuesday, in a burst of hope, buoyed by the certainty that the Fed launched a new massive operation to support the U.S. economy, growth has occurred, taking a barrel of light sweet crude for October delivery at 86.89 dollars and Brent at 110.33 dollars.

Wednesday started the fall has been rapid. The operation twist the Fed was anticipated and the device does not return any new liquidity in the markets. Hence the skepticism about its effectiveness. Moreover, "the press has depressed the market, noting the significant risks facing the economy," noted analysts at Commerzbank. The rise of the dollar has not helped the situation.

On the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for November delivery ended at 80.51 dollars Thursday (-6.3%). Prices fell, the worst of the meeting at 79.66 dollars, its lowest level for over a month. Brent, meanwhile, returned that day at 105.34 dollars. "The combination of concerns about economic growth, oil demand and a stronger dollar helped lower prices," Adam Sieminski noted, Deutsche Bank.

Friday, as markets returned to green, oil prices continued to tumble, unable to bounce back after the collapse of the previous day.On the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for November delivery ended at 79.85 dollars (-10% for the week), while Brent closed at 104 personal loans for bad credit.25 dollars (-5 %).

Copper drops below $ 8,000

Also in the category of risky assets, investors have fled the base metals. They have been hit hard by the pessimism of the U.S. central bank. In addition, there were ominous indicators of activity in France and Germany. Most strikingly, China, world's largest consumer of base metals, annoncéun a decline in manufacturing activity in September, its lowest level in two months.

All these new, been grafted to the debt crisis in the euro zone, came after the announcement by the IMF revised downward its growth forecasts for the U.S. and the euro area.In this context, investors fear more than ever a return to recession in developed economies and a general decline in demand.

The gloom that has pervaded the London Metal Exchange (LME) was illustrated by the fall of the copper on Thursday and Friday, when stock markets posted heavy losses. The red metal, the market barometer, fell at the meeting under the 8000 points to 7788 dollars, a level not seen since September 28, 2010. Since its historic peak in February (to 10,190 dollars per tonne), the price of copper dropped nearly 30%. Nickel has lost up to 18% of its value in two days, tin over 22%. Aluminium, with a loss of 6% is almost the resistance.

According to observers, this general distrust of investors, fueled by the soaring dollar, however, is exaggerated in terms of market fundamentals, at least for copper.The latter has a higher Chinese imports by 21% in August, its highest since January, as well as tight supply due to a massive strike in a major mine in Indonesia.

The sugar melts

Soft commodities were also shaken last week. Per tonne of white sugar in London has fallen by over 13% in one week, losing nearly a quarter of its value in one month, while in New York, raw sugar prices have plummeted more than 15% in five days. In addition to concerns about global growth, has suffered from the sugar harvest prospects soaring in India and Europe, including Russia and the European Union. China has also marketed 200,000 tons from its stock state.

For its part, cocoa continued to fall Thursday in London to reach its lowest level since August 2009, to 1745 pounds per ton.Brown bean was already suffering from the announcement of record crops in Ghana and Côte d'Ivoire, the two largest exporters worldwide. On the NYBOT, ICE U.S., the contract for December delivery lost 5.5% on Friday week in 2624 dollars, while on the Liffe in London, a tonne of cocoa for December delivery, dropping 2.3% to 1734 lbs.

Coffee prices have also increased their decline, the price of arabica listed in New York yielding over 10% in the week at 234.85 cents. Even bearish for wheat, corn and soybean crops and penalized by the stronger than expected yields in the northern Midwest, United States. The courses also suffered from a shift in Chinese demand for soybeans to Latin America because of rising dollar and competition from countries of Eastern Europe for wheat, shown by the loss of the call supply of Egypt, won by Russia.This lower demand has relieved the stocks were under pressure and stepped down on the Chicago Board of Trade. Bushel of corn (about 25 kg) for December delivery was worth 6.4925 dollars Friday, a bushel of wheat and $ 6.43 soybean contract 12.69 dollars.

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U.S. investors have expressed disappointment with the speech elusive Ben Bernanke, the chairman of the Federal Reserve, the attitude that the institution intends to adopt to restore growth and employment. "The Federal Reserve has a variety of instruments that can be used to increase financial support to the economy," he said flatly. In the same vein, he says he "discussed the merits and costs of these instruments at a meeting in August."And clarify that he and his "colleagues on the Committee's monetary policy the Fed (FOMC)" continue to study these possibilities in September.

In anticipation of Obama's plan for employment

Still hesitant, most investors are waiting impatiently for the speech Barack Obama (1 hour on Friday, French time), which is expected to announce tonight a plan of some $ 300 billion to reduce unemployment and avoid a recession threatens. Markets, which had initially welcomed the prospect of the announcement, began to appear less enthusiastic. They question in particular its financing and its impact on the U.S. deficit.

On the macroeconomic front, the weekly jobless claims rose in the U.S., whereas they were expected to decline.During the week to September 3, these amounted to 414,000, against 412,000 (revised) the previous week. For its part, the trade deficit fell sharply in July to $ 44.8 billion after two consecutive months above 50 billion, with an unexpected surge in exports. In addition, crude oil inventories fell more than expected last week, announced the U.S. Agency for Energy Information (EIA). They fell 3.96 million barrels to over 353 million, while economists had forecast a decline of 1.9 million barrels. The consumer credit in turn increased more than expected in July. According to the Federal Reserve, the stock rose by 11.97 billion dollars (8.61 billion euros) after an increase of 11.35 billion dollars in June

OECD pessimistic

According to the OECD, economic growth in developed countries could slow sharply, see stalling in the second half and central banks must be prepared to ease monetary policy by lowering interest rates or intervening in the markets. The Organization for Economic Cooperation and Development predicts that growth in the G7 should not exceed 1.6% annualized in the third quarter and is expected to fall to 0.2% over the last three months of year paydayloans.The United States should expand at a 1.1% annualized in the third quarter and 0.4% in the fourth.

In the same tone, the IMF said on Thursday that "the economic situation of a global perspective has deteriorated, and the risks increase, which is what we have said so far," d According to a spokesman.

On the foreign exchange market, the euro declined to 1.3883 dollars (-1.50%). The course of the black gold they have closed lower Thursday, undermined by the fluctuations of the dollar and weak equity markets.A barrel of "light sweet crude" for delivery in October down 0.32% to 89.05 dollars.

The side of values, the Chinese government pledged Thursday not to make higher bid by "politicizing" an oil spill in the northeast of the country about which the U.S. company ConocoPhillips (-2.124% to 65.880 dollars) has agreed to to endorse its "full responsibility".

The Taiwanese HTC (filed a complaint in the United States against Apple yesterday.The number two mobile phone in Asia accuses the giant of violating patents that Google has to give him.

For its part, Credit Suisse, the bank is considering to withdraw its private banking business in the United States, where the establishment is facing pressure from the U.S. authorities decided to fight against tax evasion, said Thursday the press Switzerland.

Also note, the South Korean group Samsung Electronics will release a new digital tablet under Windows environment, equipped with the Windows operating system developed by Microsoft 8, reported Thursday the Korea Economic Daily, citing a source familiar with the matter.Analysts say South Korea wants to reduce its dependence on Android operating system Google after its acquisition by the American giant of internet mobile phone manufacturer Motorola Mobility.

The Chinese authorities have renewed the license authorizing the operation of the U.S. site Google (0.174% to 534.960 dollars) in China. This decision indicates that Beijing wants to maintain Google in the country, despite its decision to reduce its operations in place against the backdrop of criticism of the policy of censorship. Also note, the infringement proceedings initiated against Google in May by three French publishers, Gallimard, Flammarion and Albin Michel, will not on at the moment, said Thursday the magazine Livres Hebdo online.

The American group messaging FedEx (-1.510% to 74.990 dollars) wants to buy 50 aircraft to modernize its aging air fleet, according to Bloomberg.Fedex is the competing Boeing 767 and Airbus A330, but will make its decision in several months.

As for the 2011 second quarter results, they are also an improvement over the second quarter of 2010. Revenues rose 4%, with an increase in trading profit of 11% and net income of 2%. For its first quarter 2011, Bouygues had reported a turnover of 6.686 billion euros (up 4%), and net income of 34 million euros.

The positive interim results allow Bouygues to revise upwards the target of revenue, it is revised upward to 32 billion euros.

Good activity for all occupations, despite Alstom

All trades of the Bouygues group showed a good business in the first half. Construction Bougues renewed growth and recorded a turnover of 4.7 billion euros, up 4% (+5% in France, 2% internationally), with net income which amounted to 94 million euros (+6%). The order book of the subsidiary recorded a record 15.5 billion euros, up 12% compared to June 30, 2010 and includes the project Balard, up to 1 billion euros.

TF1 realizes a turnover almost stable at 1 no teletrack payday loans.278 billion euros, confirming its ability to control costs and adapt its business model.The group's net profit stood at 119 million euros (61%).

As the group announced, following a first quarter strongly affected by non-recurring expenses, the financial contribution to Alstom was down sharply, with net income of 94 million euros in the first half of 2011 ( 216 million euros in the first half of 2010). However, in line with the second half of 2010/2011, Alstom has experienced strong growth in orders in the first quarter 2011/2012 and confirmed its operating margin target of between 7% and 8% for the year 2011/2012.

Issuer bid of 1.25 billion euro

To address the recent decline in its stock price (-27% since June 1), Bouygues said on Wednesday a draft tender offer in its own shares for total of 1.25 billion euros.This offer is for a maximum of 11.7% stake in the company at a price of 30 euros per share, representing a 30% premium on the closing price on August 30 and a premium of 29% on average months. The repurchased shares will be canceled, the company said in a statement released Wednesday.

The transaction will be submitted for approval at the extraordinary general meeting to be convened on October 10. For information, the offer would be open from 11 to 31 October 2011.

This morning, the rating agency Moody's affirmed the A3 rating of the group, with a stable outlook.

Side wind, the manufacturer would consider equity participation in two offshore wind farms and a partnership with an operator in the industry. These investments contribute to the effort of the group, which wants to reduce its CO2 emissions by 40% in ten years. A concern of the entire industry, faced with the requirements of the Kyoto agreements.

Manufacturers are working extra hard.Volkswagen has completed an agreement in July with Verbund Austrian energy for the latter to furnish 10% of the consumption of its German plants from hydropower. Rival BMW, he has chosen to implement four wind turbines to meet the energy needs of its pilot plant in Leipzig. For its part, Renault formalized in mid-year launch of the biggest photovoltaic project in the world of the automobile easy payday loans. The diamond brand intends to equip its factories with solar panels and other sites handling, or 450 000 m2 the equivalent of 60 football fields. Renault also uses biomass at its plant in Tangiers. But the renewed interest does not end there for the automotive industry.Access to clean energy is one of the strategic equation as Volkswagen, Renault and Toyota are trying to solve other for electric cars.

Green Transport

It is not enough, in fact, to get rid of the gas pump for the valuable label "clean car". In particular, consumers want to ensure that the electricity powering the battery is of solar, wind and others. What strengthen the links between energy operators, be they producers or network operators, and car manufacturers.

Peugeot, which has just launched its electric car iOn, signed in early August a partnership with Iberdrola in Spain.The giant of renewable energy it sells a package "green mobility" where he provides funding to acquire an electric car charging stations and energy supply to 100% "clean". The two groups agreed to promote each other's bids.