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.

Few newspapers have a history as brilliant and desperate that France-Soir. A heroic birth, with the brilliant Pierre Lazareff transforms, at the end of the war, a newspaper born in the underground resistance, Defence of France, in large tabloid. Shattering debut, with prints that quickly reach over a million copies. Illuminated by a succession of prestigious feathers. A slow but inexorable fall, punctuated by numerous changes in ownership.

France-Soir has become the first French daily Liberation from. Acquired by Hachette in 1949, the newspaper saw its heyday in the 1950s and 1960s. He crossed the bar of a million copies in 1953-1954, while France mired in the wars of decolonization in Indochina first, then to Algeria.The French go to the front and France-Soir draws more than 1.5 million copies. A banner on the front proclaims: "The only daily selling over a million copies."

By dint of scoops of hard-hitting headlines and large photographs, France-Soir is a reference. "Pick the world in a day and throw it to the men every morning," the newspaper endorsed this definition of journalism by Joseph Kessel, who covered the trial of Petain and Nuremberg. The anthology pieces by Lucien Bodard, Françoise Giroud, Jean Philippe Labro Ferniot or alongside the venomous "Gossip gossip of" Carmen Tessier, the soap with rose Angélique, marquise of angels and the "facts div" sordid as the Dominici affair. The cocktail is perfect.

At the height of his fame, France-Soir is working out up to 400 journalists and eight editions per day.Sales over two million copies in November 1963, after the death of John F faxless pay day loans. Kennedy and after the November 1970 General de Gaulle.

The tide is turning in the 1970s. When Lazareff died in 1972, the daily press is beginning to be shaken up by radio and television. The editorial line is less clear. Like its competitors, France-Soir tabloid balance between the Anglo-Saxon and the general log. Frequent changes of shareholders from that time do not help matters. The "avid reader" Robert Hersant, which then has to Le Figaro, took control of France-Soir in 1976. First bleed to the editor that loses 80 of 200 journalists … But in 1983, the distribution still falls to 400,000 copies.

Following is a series of stimulus packages and restructuring.Between 1982 and 2004, eleven editors will succeed at the bedside. In 1998, Yves de Chaisemartin, who told Robert Hersant the keys to Socpresse, the paper goes tabloid significantly lowering the selling price. But the title is seriously deficient. It changed hands in 1999, 2000 and 2002. Philippe Bouvard, who has officiated in the newspaper between 1973 and 1989, then back at the helm. France-Soir +, refocused on television and sport, does not return to its glorious past.

Bloodless, without cap, France-Soir is placed in receivership in late 2005. The following year, the newspaper was bought by the developer Jean-Pierre Brunois. Journalists on strike brandishing leaflets "Bal tragic in court: 80 dead." Inspiration always comes from English tabloids. But the newspaper has lost the recipe for success.The two stimulus packages Alexander Pugachev, who acquired the newspaper in 2009, failed to reverse the trend.

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 new residences will be paying trademarks of Pierre & Vacances Maeva Pierre & Vacances but Pierre & Vacances, offers the most upscale of the group that he arrived in Avoriaz.Count for 3 rooms (6 persons), from 1760 euros per week in December, February and March. Residences Pierre & Vacances offer spa, day care, bar lounge and larger apartments are equipped with home video and Nespresso coffee machine.

"There are 15 apartments for sale"

The ambitious expansion program of Pierre & Vacances Avoriaz to be completed next year: 104 new appartrements Pierre & Vacances will open in 2013 and a "Aquariaz", an area water park (with wave pool, slides, tree water ….) will be inaugurated next summer. In total, these studies represent an unprecedented investment of 200 million euros. But true to its strategy, Pierre & Vacances will do a small part (the Aquariaz a $ 12 million). The tourism group has in fact sold to private investors plan all new apartments."There are 15 apartments for sale", says Gerard Bremond.

The spirit of the resort, it remains the same. In Avoriaz, there is no car, we walk, especially ski or horse-drawn carriage (there are 100 horses). The clientele is international and 40%, led the largest group of foreigners, the English and Dutch.

The recovery, however, has been no acceleration in recent weeks and has even slowed in some areas, according to the U.S. central bank. Growth was moderate or mild in five districts, while seven others have described the activity with words like "very low" and "slower". In the last Fed Beige Book, released in late July, eight regions believed that growth had slowed.This does not rule out further the risk of recession in the United States.

Anyway, the news boosted the U.S. stock markets on the eve of the speech of U.S. President, Barack Obama, who is expected to announce a 300 billion plan to boost employment in the United States. So much so that Wall Street has increased its earnings by mid-evening: The Dow Jones climbed 2.09% to 11,372.44 points, the Nasdaq was up 2.67% to 2539.88 points and the Standard and Poor's rose from 2 , 54% to 1194.88 points.

What investors consolidate their fear that the U.S. economy slow down seriously. Around 20:30, the Dow Jones clawing over 0.04% to 10,814 points, still below 11,000 points, after crossing the water line briefly.The Standard & Poor's 500 and 100 Nadsad, highly volatile, yet amounted respectively to 1.21% and 1.98%, whereas increases were much more frank queqlues minutes before the Fed speaks. The Fed should seek a delicate compromise between indications that reassure investors around the world, and a formulation that is acceptable to the enemies of inflation.

Also very anxious before the meeting with the Fed, the European and Asian stock market finally closed in the red after a session yoyo. In Paris the CAC 40 fell below 3,000 points for the first time since July 2009. But the trend seems to have subsided, the indices being pressed into the green in the afternoon.

Plummeting after the deteriorating U.S. debt rating last Friday, the Dow ended Monday down 5.55%, falling to 10,809.80 and the lowest level in 10 months. It dropped below the 11,000 points for the first time since October. The Nasdaq, dominated by technology, more copiously unscrewed further, down 6.90%. The speech of President Barack Obama yesterday at the meeting, has little reassured the markets, which have severely plummeted, from both sides of the Atlantic. Furthermore, degradation, on Monday, Standard & Poor's, unsecured notes of Fanny Mae and Freddie Mac, organizations refinancing home loans, a, yesterday, still darkened the picture.These organisms probably were punished because of their dependence on the U.S. federal government.

Global oil demand to decrease

The Organization of Petroleum Exporting Countries Tuesday lowered its forecast for growth in global demand for crude in 2011, citing deteriorating macroeconomic outlook in most advanced economies. In its monthly report, OPEC reduced its forecast of 150,000 barrels per day (bpd) now and plans for this year growth in global demand of 1.21 million bpd of crude.In financial markets, oil prices were up Tuesday at the opening in New York (13 cents to 81.54 dollars), offering an impressive rebound Oil prices were up Tuesday at the opening New York, offering an impressive rebound after falling to levels seen since September.

Earlier this afternoon, investors are aware of a new better than expected, but still not glorifying to the future of U.S. growth. Productivity, which measures hourly output per worker, fell at an annual rate of 0.3% over the period April to June after falling 0.6% the previous quarter (revised from 1.8%). The market expected it folds down from 0.8% in the second quarter.

Face communication at high risk of the Fed tonight, "it is clear that the average productivity of U.S. companies in the second quarter is very far from the concerns of the market and will go unnoticed" analysts suggest Aurel BGC. Especially since the figure is clearly negative, the victim of an increasingly weakened growth.

The market capitalization of U.S. computer maker Apple has briefly exceeded that of the oil giant ExxonMobbil Tuesday, becoming the most expensive company in the world, said a specialist told AFP. The market capitalization of both groups were around 340 billion dollars in the afternoon in New York, told AFP Volokhine Gregory, head of markets for the company portfolio management Meeschaert New York. That of Apple rose temporarily above that of ExxonMobil to 7:20 p.m..

The situation worsened with the explosion on July 11 last of a shipment of arms on a naval base. The tragedy left 13 dead and destroyed the main power plant on the island that produced 60% of its electricity. Since the disaster, Cyprus is facing a government crisis. Daily demonstrations demanding the resignation of President Demetris Christofias. To calm discontent, the latter requested the July 28 resignation of the government to conduct a reshuffle.

In addition, the economy ends up weaker than ever. The rating agency Moody's has revised its forecast for GDP growth of 1.5% this year and 2.5% in 2012 down after the explosion.It provides stability in 2011 and a 1% growth in 2012. In addition to the cost of rebuilding the plant and import of electricity in the interval – valued at over one billion euros – daily cuts disrupt an economy already weakened by the crisis. As a result, Standard & Poor's and Moody's both lowered the rating last week in Cyprus due to budgetary concerns of the country.

The banks are the Achilles heel of the Cypriots. Bank of Cyprus, the largest financial institution on the island, called earlier this week the government in Nicosia to take prompt action to prevent the country does need a financial rescue plan. "Unless we act, we risk the ability of the state to refinance and the consequences will be immediate and serious," the bank said in a statement.

The deficit is widening

Especially since the official debt of Cyprus – which is about 61% of GDP – may actually be higher according to some experts. End of 2010, the agency Stock Watch estimates that the debt was around Cyprus 105% of GDP, if we include the debt of social security funds. Enough to feed all the speculation? The spokesman of the Commissioner of Financial Services, Chantal Hughes said Tuesday he was "no question of an assistance plan" because the country is "determined to do what is necessary in terms of fiscal consolidation" . However, the deficit in the first half widened sharply, reaching 3.5% of GDP against 1.9% a year earlier.

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Secretary of State Hillary Clinton sought Monday to reassure Asian markets: "I am confident that Congress will do what is needed and will come to an agreement on the debt ceiling, and work with President Obama on measures to improve our long-term fiscal outlook, "she said in the text sent in advance of a speech in Hong Kong.

Members of both parties decided to work separately on separate projects. The chairman of the House of Representatives, Republican John Boehner, now plans to announce a plan at 14 am local time (20 hours in Paris).

"Nobody wants a failure"

John Boehner told his troops last night that no breakthrough had yet been obtained to repel the specter of a failure of the United States after August 2. According to two officials, he would have repeated in a conference call that "no one wants a failure." But he also warned his party's elected they may need to make "sacrifices" to avoid it.

Twice since Friday night, the talks between the two sides have failed to unlock the status quo on the action to start to reduce the U.S. debt.Friday night, the country experienced a further escalation in the standoff between Democrats and Republicans, they refused to pander to Barack Obama. The Democrats call indeed now $ 400 billion of additional tax increases. A change of position is unacceptable, according to John Boehner, while the two sides had previously agreed to a ceiling of one trillion dollars in additional tax revenue bad credit payday advance. Saturday evening, the President was therefore convened in emergency to four White House officials Republicans and Democrats in Congress for a new emergency meeting. But no more successful in negotiations, after 50 minutes of discussion.

Democratic side, the president believes that the 1.6 trillion cuts represent an offer "extraordinarily fair".Republican side, these efforts remain insufficient to John Boehner, who wishes to bring to 3 trillion budget savings over ten years.

Critical deadlines

Given the failure of talks between the president and elected representatives of both chambers, the compromise could eventually go through further discussion within Congress. If a common ground on removing the ceiling on debt seems likely, no party could only be satisfied with this short term solution, and discussions on the reduction of public spending should be more difficult. One observation that seems to share Timothy Geithner.

The U.S. Treasury Secretary said yesterday that there would probably have two stages for an agreement, first raising the debt ceiling and an agreement on spending cuts and a second stage of higher taxes and reforms.Whatever the timing adopted, it was also described as "unthinkable" that the United States do not meet their debt obligations. And as Barack Obama, who does not want the thorny issue of debt re-emerged during the election year ahead, Timothy Geithner wants to avert the threat of a default for at least 18 months, but at nine days the deadline of August 2, the time is now critical.

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The Prime Minister also called the agreement by EU leaders on a rescue plan for Greece to step absolutely decisive for the euro area.

This increase in debt could undermine the government's objective to begin to reduce the debt ratios of France from 2013.

The Brussels agreement, which owes much to the efforts of France and Germany, pemettra to avoid bankruptcy of some countries in the euro area, said the Prime Minister after explaining the decisions taken Thursday to French parliamentarians at Matignon.

The "golden rule" would entrench the need to reduce deficits in the French Constitution is more than ever, still says the head of government.