It is a Mexican entrepreneur, owner of a chain of hotels in Cancun, which offers a Hublot watch at 700,000 euros. It is a couple of Singaporeans looking for a pied-?-terre in Paris, which is close to 10 million euros on the table for a 400 square meters overlooking the Seine. Or a Parisian lawyer who finally cracked in the Porsche 911 … The dreams of luxury customers are return guaranteed payday loans . After an abrupt end after the bankruptcy of Lehman Brothers followed by a year to land, rich of the planet reflected their platinum cards without false shame. The distribution in these days of record bonuses in finance in New York, London or Paris will only encourage fever after a year of dieting.
The gross public debt (government, social security and local authorities) continues to rise. At the end of the third quarter, gross debt under the Maastricht amounted to 1457.4 billion, up from 29.4 billion the previous quarter, according to figures published by INSEE on Tuesday. "Expressed as a percentage of GDP, it is approximately 75.8%, up 1.9 points," says the National Institute of Statistics. In the second quarter, the debt had reached 73.9% of GDP.
The increase over the period, less than that observed in the second quarter (61.1 billion euros), was driven in particular by the increase in debt of the state. To finance the budget deficit, the state has cut its debt of 23.4 billion euros.The debt has also funded a stake in the Company making state participation in a French bank, Cr?dit Agricole 3 billion, INSEE said.
The social security funds have also contributed to the increase in gross public debt to the tune of 5.9 billion euros, "particularly as a result of increased indebtedness of the ACOSS (3, 9 billion euros), "details the INSEE.
The government has included in his bill to finance the debt was still progress to 77.9% of GDP at the end of the year. In 2010, it expects debt to 84% of GDP, without taking into account the large loan.
Moreover, net public debt, which includes cash and short-term is highest increase over the period, the gross debt.It was heavy with 57.1 billion euros over the second quarter, rising late September to 1331.5 billion. In case a "sharp decrease in cash of the State (-28.3 billion), returning to a level close to that of a year ago," said INSEE.
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Yogurt machine is restarted. Thanks to price cuts, promotions and new standards more accessible, sales of Danone's dairy products rose 7% in volume in the third quarter. It's the largest increase since mid-2007.
So far, Danone had mostly favored the move upmarket with its brands Activia, Actimel and Danacol and rate increases. These were also made compulsory by the soaring price of milk. But the crisis had led to an alarming decline in volumes last year. In January, the group has initiated a program called reset ( "reset"). To boost volumes, each subsidiary has revised its product positioning and pricing in each of its markets (yoghurt, water, infant nutrition and medical nutrition).
Franck Riboud, Danone's boss has welcomed the success of these "operational adjustments."We did not only correct, but have been effective and rapid implementation, said without false modesty, the CEO. We have completed the repositioning of our products before the end of the year. "
A year ago, Danone was advised that because of the deteriorating economy, growing its sales in 2009 would be "less than a few points" in its medium-term target of between 8 and + + 10%. According to details made this Friday, the group table in fact now an annual growth of 2.8%.
While this is a very sharp slowdown in growth of sales, Danone has proven its ability to react and managed to accelerate the pace since January.In the third quarter, all regions are growing, even Europe, which was down in the first half.
Volvic and Evian in progress
Above all, "we gained market share in the three quarters of our markets," insists Peter Andre T?risse, the CFO. He also noted that milk prices would increase, "but return to significant increases in 2008." Danone may therefore increase some of its prices, "while remaining competitive."
Other good news: the return to form of the bottled water division, which is experiencing its strongest growth since early 2008. "Danone has its strong presence in Asia, the area that draws economic recovery," said Lee Linthium, head of research for Euromonitor.The institute predicts that sales of bottled water will increase by 8% in Asia this year, thanks to economic recovery in urban areas, where consumption of these products is higher.
Even in developed countries, Danone waters are rising again this summer, especially in France, the United Kingdom and Germany. With the impact of weather, but not only. "The sales made under Volvic promotion grew by 40%," says one Danone. In recent weeks, the promotion efforts made on Evian, the brand's flagship division, are even more important. Here again, priority is given to the volumes to boost sales.
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