Appeared in France in 2004, the McCafe accelerate their development. With 18 million euros in turnover in 2010, the McCafe will now represent only 1% of sales for McDonald's in France. This year, 50 new cafes have opened, bringing the total to 134. The chain is pleased to have already welcomed nearly 10 million customers since January, as much as the whole of 2010.

With the launch of these sandwiches, the McCafe wants to expand its sales morning.While McDonald's realize most of their revenues with meals, sales of McCafe are indeed distributed at different times of day: 40% are performed in the afternoon, 25% in the morning and the rest in addition to the meal at McDonald's.

"Rely on the uses of land"

For this, the American chain ensures adapt to local habits, developing a range that "locks onto the customs of the country," says Annabelle Jacquier, Business Unit Director of McCafe and Salad Bars. Croissants are filled and the menu of Italian McCafe and toasted bread filled with cheese is available in Portugal.

In France, the McCafe initiated the sale of badges and sell pastries baked on site.With sandwiches, McDonald's wants to get into habits, "the pastries were already very French, but they are pleasures to be agreement from time to time, not necessarily every day. Instead, the sandwiches are part of our daily lives, "said Annabelle Jacquier.

With this new offering morning, the channel hopes to "increase the frequency of visits and bring in new customers." "The goal is to sell as many breakfasts of pastries that we sell today," said Annabelle Jacquier. The offer of Mc Cafes continue to "French" with the launch in late October, pastries Regional: kouign-Amann, fluted Bordeaux and Paris-Brest will rub and muffins and brownies already proposed.As for McDonald's restaurants, they offer sandwiches to stick next year.

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Lionel Heurtin – I do not know if it's a good thing but I see that the composition of the CAC 40 reflects the French industry side. Total is the largest market capitalization (71.9 billion euros at September 23), Sanofi, the second (62.5 billion) and LVMH (53.3 billion) in the third. There is a little less than a year, BNP Paribas was one of three French companies the most important stock exchange. Today it was down in sixth place and is the only bank to be among the ten largest companies by market capitalization French.The summer market slump prompted investors to retreat to defensive stocks.

After Natixis, can we consider the output of another bank in the CAC 40?

Although they have declined sharply during the crisis, banking stocks are among the largest market capitalizations French. Depending on the current caps of different values, it would be more companies like Accor, Cap Gemini, STMicroelectronics and Veolia Environnement, which would be threatened to leave the Cac 40. More than a bank exit of the Paris stock, rather a good idea to expand the ACC and raise it to 100 values. To cover their risks, some investors sold financial products built on evidence without looking at the fundamentals of companies. What weighs particularly on large caps, so Total and Sanofi.It is surprising that the market has completely reversed in 10 years. In 2000, small caps were the cheapest. Today it is the large caps.

Mistrust vis-à-vis the banking stocks is justified?

I think the attacks against banking stocks are exaggerated. The markets are scared. The exposure of French banks to Greece is not so high, the Italian term change of government, and will implement austerity measures more easily and Spain, the big banks are sound, even if uncertainties remain on the property. To reassure investors would require the state, as in 2009, requires a preferential action on banks to retain a veto, rather than nationalize – which would dilute the shareholding and could worry investors.Now I do not think that French banks may need to be recapitalized.

Is this the right time to buy bank stocks?

It is still perhaps a little early, but there are many sellers in the market and very few buyers. I sold a lot of banks in 2007, I come back gradually: I particularly strengthened BBVA in Spain. In France, there must be only 20% of equity managers who banks at the level of evidence and beyond in their portfolio. The decision to return to this sector should create value. Three years ago, banking stocks were worth 3 times their equity. Today they are worth between 0.3 and 0.4 times their capital. I feel more comfortable with banking stocks today than in 2007, while capital increases should step in and dilute the potential revaluation.

This good performance is due to the pricing bottom of the sign. That the budget would shrink consumer this year, Leclerc done since a few months more to offer the Nutella jars, bottles of Coca President and cheese at the best price. The group has "invested nearly 25% of the margin," explained Michel-Edouard Leclerc mid-July, commenting on the figures of the first half.

The strategy paid because Leclerc is gaining ground: its market share was 17.4% in early August, up to a point in a year.These are mainly customers who now prefer to Carrefour to shop at Leclerc. Carrefour has lost almost one million customers a year, says the firm Kantar. Consumers have felt that the company has passed the rate increases negotiated with suppliers in the spring. This summer, the group also backed down, becoming aggressive pricing.

400 terminals withdrawal in 2015

Newer phenomenon also explains the slowing of Carrefour and Leclerc force: the drives low rates payday advance. "A significant part of the decline in Carrefour," which has only a few points of withdrawal of courses ordered online, "is already benefiting from E. Leclerc and Auchan, note Kantar. With Auchandrive and Chronodrive, Auchan is the pioneer of these terminals, located next to the supermarket or along a busy road.Noting that the French want to spend less time to shop and do not want to pay more, as with delivery services or Houra Telemarket, Leclerc decided in 2007 to max out the Yankee brand. In late June, 101 E. Leclercdrives were already spread over the territory. They will number 150 at the end of the year and 400 in 2015. In this horizon, Leclerc expects to achieve with this method of distribution sales of 1.5 billion euros, almost five times more than the 350 million expected this year. "One third of our growth comes from the drive. This format is already 1.4% of our turnover, more than double a year ago, "according to Michel-Edouard Leclerc.

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The TGV Duplex can carry 545 passengers in a train in 1090 and a single double. (Photo credits: SNCF Media / Ludovic Gra)

Both men called on States to the euro area to accelerate the implementation of the comprehensive plan to rescue Greece definitely reassure the markets.The urgency is evident: "It will take months before the European Stability Fund is able to buy government bonds on the secondary market, as decided by the European Council last month," said the office Study Capital Economics. In the meantime, fragile states are likely to face difficulties refinancing growing. In this regard, the Commission President José Manuel Barroso, said Wednesday that he would write to all Heads of State in the area to "squeeze" to "implement without delay" these measures, the being adopted by their parliaments.

European leaders also need to fill a second front, the economic downturn which threatens to investors that the States of the euro area are not able to meet their deficit reduction program.It is the task that has been working Silvio Berlusconi, in a speech to Parliament just after the market close.

Fiscal consolidation

For half an hour, the Italian Prime Minister strongly defended the fiscal consolidation that his government plans to boost growth and drive the deficit to balance by 2014. If it has not announced any new target figure – or even offered to return to equilibrium faster – it has committed to implement an "immediate action plan" coordinated with the social partners and opposition, and expressed his determination to confront the crisis "with consistency and firmness, without following the nervousness of the markets."The "economic and financial fundamentals are strong in Italy," he said to them.

In terms of concrete measures, it confirmed the release of 7.4 billion euros in three years for the Mezzogiorno. He did not mention, however, measures to reduce overstaffing of government, the duplication of structures and salaries and excessive fringe benefits enjoyed by politicians and community leaders.

His intervention is therefore likely to disappoint the markets violently attacking Italy from the beginning of the week. Wednesday afternoon, the rate at ten years was $ 393 Italian basis points (3.93%) over the German Bund. A level equivalent to that of Greece there are sixteen months.

The Bank of Italy follows with vigilance the developments.Its governor, Mario Draghi, who will succeed in November to Jean-Claude Trichet at the head of the ECB was consulted twice in five days by the head of state. Silvio Berlusconi's speech was accompanied by Italian all-out offensive to try to reassure Europe and international investors. Giulio Tremonti met Wednesday for two hours in Luxembourg President of the Eurogroup Jean-Claude Juncker, who called for further "quiet" thinking about the debt crisis. For its part, the director Vittorio Grilli Treasury undertook a tour of Asia (Singapore, China and Hong Kong) to persuade sovereign wealth funds and the business community the opportunity to invest in Italian government securities.

The good surprise comes from the sales of the iPhone and iPad.In total, over the quarter, the company based in California has sold 20.34 million in the world of smartphones, and 9.25 million tablets. Apple has indeed benefited from booming demand in Asia, with sales increased six times in one year on the China-Hong Kong-Taiwan. And the group still sees many opportunities for growth in this area.

For the next quarter, revenue forecasts made by Apple, however, are cautious around $ 25 billion, slightly below analysts' expectations.

In a statement, the charismatic CEO of the brand, Steve Jobs, has focused on the future development of services and icloud iOS 5, which should be available this fall.

The question of succession of the leader, sick leave, is still pending.The Wall Street Journal, some members of the executive committee of Apple have discussed the subject with headhunters. The U.S. daily ensures that they have contacted "at least one leader of a group of high-tech." Discussions called "informal and routine."

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The stakes are high for Microsoft. Office software suite, known to the public for its messaging (Exchange), its communication programs (MSN), its word processing (Word) or spreadsheet (Excel), is used by 1 billion people worldwide .The economic role of this job is for the computer giant.

Subscription model

"Office represents about one third of group sales and billions of dollars of investment per year," said Ariane Gorin, marketing director of Office at Microsoft France. In fact, the division of Business software giant, whose main activity is the result of office automation software, accounted for 31.2% of group sales in the first nine months of fiscal year 2010 – 2011. Over the same period, the division that handles Office has generated an operating profit of $ 10.5 billion, or half the group's operating income.Already, more than 200,000 companies worldwide have tested the preliminary version of Office 365.

800 partners in France

But the changeover of all clients to the set of software tailored for cloud computing, is expected to take time. "Large groups could wait five years to switch all of their users, while very small businesses should be the first to adopt Office 365," said Ariane Gorin business card design. She added: "Today, 90% of Microsoft developers are directed to the cloud."

For the global software giant, the move to cloud computing is revolutionizing its business model. So far Microsoft Office is sold licenses to computer manufacturers or directly to the public as a package. But with its new Office 365, Microsoft enters into a rental model.It offers several subscription to month, from 5.25 to 22.75 per user, depending on the services requested by customers. A first offer starts at 1.79 euro for a single messaging service (Exchange). For its part, Google highlights its prices lower than those of Microsoft, $ 5 per month per user.

For help in the distribution of Office 365, Microsoft has 800 partners in France, two of Orange Business Services and software integration Risc Group, which will sell the whole offer. Dematerialized data will be stored in Europe, in Microsoft's data centers in Ireland and the Netherlands. But the software giant plans to "adapt its offering to the specific needs of certain customers," said Ariane Gorin.For the financial sector, the data must be stored four times in separate locations.

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Meanwhile, the Paris Stock Exchange, climbing, after a session marked by red. Halfway through, the Cac 40 gained 0.81% to 3830.41 points, like the Asian stock markets while the Japanese Minister of Finance, Yoshihiko Noda, promised Tuesday that his country would continue to buy bonds European Financial Stability Fund (EFSF), to help the euro area to overcome the debt crisis of some of its members. Sign of the relief the markets, the euro recovers.Around 11:00 in Paris, the euro bought 1.4334 dollars against 1.4301 late Monday.

Markets will also pay attention tonight at the meeting of the Fed, the U.S. Federal Reserve, which provides guidance on the direction of future monetary policy depending on the state of the economy of the first power of world.

Maurel & Prom, Areva and derive the rating Nexans

Maurel & Prom (2.72% to 16.83 euros) sold in Canada Caroil Tuscany for $ 120 million and 29% in capital. The group posted the best performance from the coast on Tuesday.

Areva (0.10% to 25.56 euros).The Committee of European Group (CGE) Areva said Monday that Oursel Luke, the future chief executive of the specialist public of nuclear, was expected to set out his strategy for the company.

The French manufacturer Nexans cables (3.79% to 64.90 euros) announced Tuesday that it would strengthen its presence in China by acquiring 75% of the energy cable business of the Chinese Shandong Yanggu Cable, valued around 140 million (including debt).

Valeo (5.38% to 44.27 euros) is carried the words of its Director General Jacques Aschenbroich who welcomed the "very good first half of 2011" in an interview Monday in Paris high risk personal loans. "Valeo increased by three to four points faster than the market" on which it operates, and the order books of Valeo exceed 12 billion euros, he said.

The IPO postponed Verallia

Saint-Gobain (1.67% to 42.11 euros) on Monday announced the postponement of the IPO of its subsidiary Verallia, a failure that symbolizes the current weakness of capital markets on fund nervousness of financial markets the Greek crisis.

Carrefour (0.69% to 27.0 euros) holds a general meeting of importance on Tuesday. The slump experienced by the Carrefour share in recent days is likely to facilitate the meeting. The group could be separated from his teaching hard discount, Dia.

Alstom (1.23% to 42.49 euros) is developing a new model for high-speed train, the AGV II, which could run at a maximum speed of 380 to 400 km / h, according Les Echos."After the failure of the Eurostar, Alstom aims to expand its range of high-speed train for international tenders, while the competition has never been higher," said the daily.

The automaker Renault (0.39% to 37.14 euros) does not market new high-end vehicles before the end of 2014, announced the group's commercial director, Jerome Stoll.

While 200 planes were sold yesterday at the Paris Air Show, European governments are on the frontlines in defense of public aid granted to Airbus (EADS group: + 0.92% to 21.45 euros), challenged by Boeing and the WTO.Ministers to UK companies found that surgery was beneficial to taxpayers, at a meeting at Paris Air Show.

In addition, Eurocopter, a subsidiary of EADS, is expected to have discussions in the fall with the Ministry of Defence, who want to save money on the result of the Tiger and NH90 programs, The Tribune reported Tuesday.

The CAC 40, only Pernod Ricard (-0.36% to 66.89 euros) decline.

During the final debate, which were to continue late into the night or Saturday, the members have changed two important points of the original text of the government, which will have a direct impact on taxpayers.

30,000 euros per decade

Proposed by the Rapporteur-General Budget, Gilles Carrez, the shield will reverse charge from 2011. Specifically, beneficiaries under the shield of their 2010 income will be imputed directly to their ISF, payable before September 30. Until now, the reverse charge was voluntary, and beneficiaries of the shield receiving a refund check from the treasury for several months after paying all their taxes.By forcing taxpayers to deduct that amount directly from their ISF, the government is spared thus a new controversy over the amount of refund checks that were received by a few large fortunes during the spring 2012 presidential election in full.

In addition, Members noted the reduction in ISF for each dependent child (including the majors pursuing studies), raising it to 300 euros against 150 euros previously.

The second set of changes to the law on donations of money. On the proposal of the Government, members agreed to authorize the renewal every ten years of the exemption from transfer taxes on gifts less than 30,000 euros.Since the law Tepa the summer of 2007, it is possible to donate money to his children, grandchildren, great-grandchildren, or failure of issue to his nephews and nieces, without incurring tax (ie, without paying gift tax). And that, provided the donation does not exceed 31 865 euros and that certain rules are respected age. It's sort of a particular form of donation.

The government amendment relaxes the system. Thus, in case of gift to a child, the parent must have less than 80 years, and not, as now, less than 65 years. This threshold of 80 years is also one that is already applied to gifts to grandchildren or great-grandchildren. In addition, the amendment authorizes such gifts of money tax-free every ten years, whereas previously this could only be done once.The cost of this measure is estimated by the government between 20 and 30 million euros from 2017. It is in effect from that date that the first donors who benefited from this measure in 2007 will give back to their descendants. Good news however for holders of life insurance. Gilles Carrez's proposal to raise 20 to 25% taxation of life insurance in case of death, to the heritage of over 903 000 euros, was rejected.

The solemn vote of the Act is expected Tuesday.

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LE FIGARO. – Will you reduce the paperwork?

Frederic Lefebvre. – Business leaders have sent 600 proposals for simplification. With Jean-Luc Warsmann and Jean-Michel Aulas, who co-chair the Audience, we prepared a first set of 80 measures that address the most pressing demands. They will allow businesses to save lot of money. Simple deletion of a statement saves an average of 26 million euros per year, according to estimates by Ernst & Young.These steps have been umpired by the Prime Minister and reflect the priorities set by the Head of State.

The digital safe will he set up?

If I am an entrepreneur, I am obliged to provide up to 70 times a year with the same information to complete reports required by various agencies. If I am a craftsman, it's work every Sunday for me and my spouse. This era will be gone with the introduction of the "digital safe" might be called more precisely "secure Digital cabinet. Progressively, entrepreneurs will provide their information once and for all the administration. There are currently seven different definitions of the concept of staff in the company, three definitions of value added. We will reduce this excessive complexity.I could multiply the examples: in the tax area, for the 600,000 businesses that have only one establishment, there will need to fill specific statement on the contribution of value added.

When the digital safe Will it be operational?

The administration will develop a specification. It will require interoperability between administrative agencies. The technical definition of study will be launched before the summer. Funding for this study will be provided by the investment program for the future. I wish that "the cabinet secure digital snaps into place in conjunction with specialized companies and not just the administration.Businesses may need to be equipped with specialized software to access this "cabinet" but they will not pay a penny to fill the forms.

How much will the investment?

Several countries have already implemented this type of initiative. Norway, for example, invested $ 100 million. The study will determine the exact amount of this project we want to be operational by the summer of 2013 no fax needed payday loans.

The new laws will they be easier to understand?

We will ensure that the entry into force of new regulations intervened to a limited number of fixed dates in the year. Impact studies will be conducted to verify that these new regulations are tailored to small and very small, as the Prime Minister wanted.The pay slip will be simplified: a framework for the pay sheet, 30 lines now, could see its number of rows divided by two. This will mean a saving of almost 100 million euros per year, again according to Ernst & Young.

If I am an entrepreneur, I am constantly solicited by requests from INSEE and other statistical agencies of the state. To ensure that contractors are obliged to provide information several times a year, INSEE will develop a sampling plan together and ensure that data collected under investigation are not requested again in another investigation.Moreover, rather than asking businesses about their energy consumption, for example, INSEE interview the five big energy suppliers.

The public bidding will they be simplified?

We need to study the feasibility of a platform providing information on all government procurement. Local authorities could be part of the definition of the project.

The government will they change their attitude?

I want to restore trust between business and government.The rescript social, modeled on the rescript tax will be improved, so that businesses can easily examine the administration and get answers then they will have access during inspections.

And for freelancers and independents?

Nicolas Sarkozy told them: a simulator will allow them to calculate their costs and we will review the timing of collection of social contributions in the year. We are also changing the governance of the Independent Social Plan (IHR), which is malfunctioning.

When will these measures be applied?

With Jean-Luc Warsmann, we work hand in hand so that such measures are quickly implemented. I will ensure follow-up. I have set a first appointment to assess their application in six months.We will launch with Christine Lagarde a new series of consultations to continue the momentum of simplification, including at the legislative level.

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