A successful international expansion

Casino has succeeded mainly in some countries. The group of Latin America's main platform for international expansion, although the group has some nice success in Asia (Thailand and Vietnam). First, it is Brazil, where Casino owns jointly with its parent company Rallye, 48.1% of CBD Grupo Pao de Açúcar. The success of Casino in the country had also been salivating Carrefour and its shareholders. They had tried to orchestrate a merger that was not the taste of Casino.

A successful real estate subsidiary

Casino can also count on its real estate subsidiary Mercialys. It is worth 2.56 billion euros for a wealth of 2.54 billion euros. In fact Carrefour has assets, much larger, estimated at 15 billion euros. But its real estate subsidiary project fell into the water.

Little excitement in the shareholding

At Casino, ownership has been stable since the merger in 1992 Rallye and Casino. Jean-Charles Naouri has locked the capital since its holdings Rally and Kerrous hold 51.09 and 6.49% of shares. Brother Albert is a quiet and faithful shareholder with 1.7% of the capital. At Carrefour, the float was very important before Bernard Arnault and Colony Capital will invite themselves to capital. They jointly hold nearly 14% of the shares 100% free credit score.

Governance, clear and precise

At Casino, Jean-Charles Naouri decides.At Carrefour, the change of presidents have succeeded without success. Since the departure of Daniel Bernard, nor José-Luis Duran or Lars Olofsson have managed to revive the company. On the contrary, records against Carrefour-performance, particularly in France.

To a satisfactory third quarter Casino

Wednesday, October 12 evening, Casino will publish its revenue for the third quarter. While billings should not proceed at a pace as rapid as in the first half (+18.8%) but growth is expected to remain satisfactory. Unlike Carrefour, Casino relies on strong performances in France.

The stock options

These findings illustrate the past, but investors should now focus on the analysis of the perspectives of both groups. From this point of view, the stock options is tricky.In fact, Carrefour has fallen very low and it is difficult to imagine a new fall of the action. Carrefour has suffered a lot of hedge fund strategy of buying and selling Carrefour Casino uncovered. Most of the fall of Carrefour is behind us. The recovery will take time but it should be occurring at one time or another. Casino has a real advantage for the shareholder, the group pays a regular dividend and generous. Those who want to enjoy a very high efficiency can also turn to rally, the parent company of Casino.

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More limited carrying capacity

Estimates of the study Mastercard "Report on the economic impact of Rugby World: 2011 World Cup," the economic activity generated by the event is expected to reach $ 654 million (479 million), 18 % less than the 2007 edition in France. Main reason: the carrying capacity, especially in the stages are not the same. In New Zealand, the largest chamber (the Eden Park in Auckland) can accommodate 60,000 rugby fans. This figure drops to 40,000 for the second largest stadium. In total, only five of the twelve speakers in the competition beyond the 30,000 seats. In France in 2007, all exceeded the 32,000 seats.Enough to blow up the number of tickets sold in the Hexagon at 2.25 million, against 1.35 million sold in 2011 according to MasterCard. Next visitors, a double standard as well, since 95,000 fans are expected in the country of Blacks against more than 325,000 in 2007.

Overall, the economic impact of the sixth edition of Rugby World Cup in 2007 was estimated at 540 million euros, of which over 85% from the tourism (spending by spectators, lodging, drinks, souvenirs …). A record that does not beat New Zealand in terms of direct benefits. It remains to know the net financial gain from the competition.Those of this edition will not be known precisely until a few weeks, but we know already that they will be affected by 550 million euros spent on building or renovating stadiums, where France had limited its expenses (most stadiums were renovated for the World Cup soccer in 1998). The catastrophe of Christchurch should also weigh on the accounts. In 2007, net income of the competition had reached about 113 million euros, while New Zealand could lose money on this event.

The hearing will be at the rendezvous

The only consolation for the organizers of New Zealand against the semi-economic success: the increasing popularity of the rugby world should not be questioned. About 4 billion viewers (cumulative audience) should follow the matches of the competition.Almost as much as 4 years ago (4.2 billion according to URS Finance and Economics and the International Rugby Board). More than 220 million euros in marketing and TV rights for the event have been sold by the IRB, against only 190 million for the French edition of 2007. The fact is that New Zealand will not see the color of money, revenue from TV rights and advertising contracts falling directly into the pocket of the Board, to fund the global development of rugby.

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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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Investors also benefit from a further weakening of the yen against the dollar and the euro the dollar was trading at 76.7 yen (0.10%) and currency EUROPEAN, 111.49 yen (0.36 %). However, some export values ​​do not. This is the case of Toyota who drops 1.91% to 2715 yen, Honda lost 1.22% to 2415 yen.However, Sony climbed 2.82% to 1637 yen.

The oil prices down slightly

Chinese markets are evolving in a piecemeal: the Hong Kong Hang Seng rose 1.51% to 19,879.50 points while the CSI 300 Shanghai loose 1.30% to 2863.39 points. According to Reuters, China has reportedly asked its banks to include their deposits in reserves required by the Central Bank.As a result, Chinese banks are severely impacted the stock market: China Merchants Bank 3.13% to loose 11.74 yuan, China Citi Bank lost 3.45% to 4.47 yuan and Industrial & Commercial Bank of China sells 1.44 % to 4.1 yuan.

On the other Asian financial centers, investors are generally in good spirits Monday morning: the Taiwan TAIEX advances 1.79% at 7578.01 points, the Kospi in Seoul gained 2.96% to 1831.55 points, the S & P / ASX 200 was up sharply from 1.82% to 4276.50 points, the BSE Sensex up 30 wins 2.64% to 16,268 points and the FTSE Straits Times rises from 1.33% to 2784.85 points.

Oil prices were slightly lower Monday morning during electronic trading in Asia, due to the drop-off in demand after the closure of airports on the east coast of the United States, when Hurricane Irene, have analysts said.In morning trading, a barrel of "light sweet crude" for delivery in October gave 13 cents to 85.24 dollars per barrel of Brent North Sea crude for October delivery let go 28 cents to 111.08 dollars.

The Prime Minister must take into account most of what now seems inevitable growth in 2012 will be lower than previously expected the government (2.25%), making efforts to do even more important. To revise this forecast in a few weeks or Wednesday when presenting the draft budget law, the government wants in any case the figures show "politically and economically realistic," they say in Bercy."It will include the best high end, if it shows 1.2% forecast for next year, it is safe to freeze business investment. It must be very careful, "said a relative of the head of state. Nevertheless, growth should be difficult to take off again. After the violent air hole of the second quarter of this year's event would go back gently quarters. The president of MEDEF, Laurence Parisot, said on Monday that it would be "very difficult" to reach the 2% target this year for his part, Minister of Economy, Baroin, says that "we Online "with this prediction.

Convince markets

Economists, they have already begun to scale back their assumptions for 2011, but for 2012. A study conducted by Reuters with a half-dozen financial institutions reported an average of 1.4% growth for next year.Among the most pessimistic, the U.S. bank Morgan Stanley last week lowered its forecast to only 0.9% next year against 1.6% previously. Other scenarios are less black, as BNP Paribas, which provides 1.6% or 1.7% Barclays Capital.

Whatever the figure used by the government – which is likely to approach the 2% increase – it will in any case that markets are convinced that under the budget he intends to introduce. A necessary step towards the restoration of confidence.

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This court decision, taken on July 28, was revealed by Charlie Hebdo before being confirmed Tuesday by a judicial source. The prosecutor did not appeal the decision within five days following the judge's order, the trial is inevitable. It should not however be held before 2012.

The accused are suspected of wrongdoing in the program "Oil against food." This device, developed by the UN between 1996 and 2002 allowed the regime of Saddam Hussein, then subjected to an embargo of the Security Council, to sell the black gold in exchange for food and medicine.

Pasqua accused of corruption and influence peddling

Justice suspected leaders of Total for putting in place a system of kickbacks to benefit from oil markets and to have circumvented the ban by buying barrels of Iraqi oil through front companies. The company is well prosecuted for bribery of foreign public officials, influence peddling stolen goods and conspiracy to influence peddling Payday Loan for Bad Credit. Its current CEO, Christophe de Margerie, is returned for complicity in misuse of corporate assets."We are confident in the outcome of the trial and the fact it is established that Total can not be accused of the facts stated," responded the oil group.

Other French officials involved would have received their commissions in the form of barrels of oil allocations. Two former high-ranking diplomats will be translated for corruption: Jean-Bernard Merimee, Ambassador of France to the UN from 1991 to 1995, and Serge Boidevaix, former Secretary General of the Quai d'Orsay. Charles Pasqua will defend him on charges of corruption and influence peddling for acts committed between 1996 and 2002.

"It's quite a surprise and an unpleasant surprise" immediately commented on France Info's lawyer, Leon-Lef Forster. The latter was surprised that the judge, who took over in 2010 an investigation in 2002, has taken its decision without even "bothered to ask (his) client."But he said he had "no concerns" about the outcome of the trial.

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Christophe de Margerie. – What do you want Total to answer those who have already tried? However, I am ready to discuss the importance of our results and what they serve. In the first half, we invested 11.3 billion euros. We prepare the future, not just to look for oil and gas but also by positioning ourselves on new energy sources such as photovoltaic. In the second quarter, our results in dollars rose by 7% yoy and 19% in the first half.This is a more moderate increase than in oil and gas knowing that it mainly benefits the producing countries, our average tax rate was increased to nearly 60%.

It blames the gasoline pumps, starting with Total, a secret on prices …

There are no more transparent than the fuel market in France: the prices are posted daily on the Internet and on motorways. But the best protection for consumers is competition. The distribution market in France is hypercompetitive, with margins among the lowest in Europe, less than 1 cent per liter. This has led almost all the major oil companies to withdraw from the French market, but at least not total! For me, the fewer stations in France is a concern because it affects access to energy for all the French.Let us not forget that if our brand image of a monopoly, it is never that 20 to 25% of the market based on fuel. Far from the supermarkets, which account for more than 60%.

In France, Total is testing gas stations cheap, will you extend this experience?

The first results are satisfactory. We intend to extend the experience. Many issues remain unresolved, including the name and position in relation to our current network. One thing is certain, if we convert the try, we'll do it our way, with low prices, certainly, but also a real quality of service. Before any changes, a necessary preliminary: the dialogue with social partners.

You explore and exploit deeper and deeper, further. Is not it risky?

We do not manage a pension.Our goal is to identify and develop the reserves today that will meet the demands of tomorrow payday advance. For this, we must actually take calculated risks but the real risk of being hindered in accessing new reserves. So yes, we are going to countries 'difficult' in the political, technical or environmental: Burma, Nigeria, Libya or Canada and its oil sands … Production costs have soared. A barrel today is much more investment than ever, it is of a barrel of "high technology". Macondo after (the explosion of the BP platform in 2010 in the Gulf of Mexico, Ed), our security requirements are more than ever the priority but it will take part in rising costs, as well as requirements energy efficiency and reducing emissions of greenhouse gas emissions.I remind you that Total is committed to halving its volume of gas flared between 2005 and 2014.

What is your strategy to access these new reserves?

We are strengthening our strategy begun almost two years. We have made acquisitions of high quality. While we were rather conservative on sales, we prove that we know sell and sell well. We have sold our interests in the Spanish company Cepsa, to nearly $ 4 billion in an offshore block in Angola, most recently in the Norwegian gas pipeline network.We breathe our asset portfolio and disclaim cash flow for future growth on younger workers, focused on our growth areas in high technology – the ultra-deep offshore, liquefied natural gas (LNG) or gas as unconventional shale gas – while ensuring a good geographical balance. These eighteen months we have seen thus strengthen our position in Russia, Australia, Canada or in East Africa.

With shale gas, Total is it becoming a group more gas?

Our strategy includes both oil and gas. Today, gas is essential, it is cleaner than coal and oil to produce electricity. Gas now accounts for 45% of the total production, oil 55%. Shale gas has upset the market in the United States.In Europe, we start – when you can – just exploring, although many of exploration permits for the shale gas is already taken. However, we are already permits in Denmark, Poland, with Exxon, and Argentina.

Free of charge to

The rich news in recent months has benefited the continuous news channel. It allowed the CIA to return to the top 10 ranking.TF1 chain stores throughout the universe cable, satellite and ADSL 0.5% audience share and 0.8% in the strict world of pay. i-TV and BFMTV, which enjoy a free exhibition extended reach audiences of 0.9% and 1.1% of the universe expanded and 1% and 0.8% on the paid one universe. These results come as the TF1 group questioned the passage of a paid circulation of LCI to a free model. Media agency side, we follow the case closely: "The hearing of the news channel is around 1%. The arrival of a third channel may break an offer that was balanced. It will then see what is proposed in terms LCI advertising, "says Regine Tournier.

This quarterly performance results from increased sales volumes by 5% worldwide. The group has grown in four production areas: fresh dairy products (+6.5%), water (+13.3%), child nutrition (+11.2%) and medical nutrition ( +9.3%).

Furthermore, in terms of evolution by geographical, Danone has been a general increase in turnover with growth in production volumes. According to quarterly figures, the most dynamic market is that of Asia (+18%) and least efficient is one of Europe (+3.7%)

Growth through partnership with the Russian Unimilk

The statement said the joint venture with Unimilk, a leading milk producer in Russia, contributed to the growth of quarterly figures from Danone payday loans for self employed. Announced last June, the merger has allowed the group to control 57.2% of the new group, and the growth of Unimilk in the first quarter of 2011 represented 15.3% on a comparable period. Frank Riboud, the integration work of Danone-Unimilk in Russia remains a priority in the coming months, enabling the Group to confirm its objectives for 2011.

Despite higher commodity prices and forecasts of rising packaging costs by 6% to 9% in 2011, Danone is a continued growth of 6% to 8% throughout the year . This growth can be achieved particularly through the development of the market group of countries in the post-Soviet space.

At the Paris Bourse, this news is appreciated by investors. Half an hour after the initial exchanges, the title Danone is one of the largest increases of ACC 40. It rises from 1.46% to 47.52 euros on a market down 0.52%.

The alarming news from Japan are linked. The Government refers to as a loss that would have a "considerable" on the national economy, adding that huge funds needed to finance the reconstruction of the areas tested.

Serious malfunctions at nuclear power plants in the region ravaged quicken concerns about the consequences of this disaster on all Japanese companies and the entire region.The Bank of Japan (BoJ) tries to calm markets by injecting funds into the financial system records. At midday on Monday, already 15,000 billion yen (131.6 billion euros) have been released. But this news has not been enough to reassure the markets of the region, primarily the Tokyo Stock Exchange, which has unscrewed from 6.18% at closing for its first full day of trading since the disaster.

Concerns from Asia should also largely occupy the mind for that day. Indeed, no major indicator except industrial production in the euro area in January, is expected Monday. It will wait until Tuesday for a news might make a difference in publishing in the U.S. index of house prices and the Fed decision on rates.

Oil and euro down

In this tense environment, oil appears down in electronic trading in Asia, the market worried about a drop in demand in the short term hit in Japan. In morning trading, a barrel of light sweet crude for April delivery fell by 1.28 dollars to 99.88 dollars. That of Brent North Sea crude for April delivery yielded 1.39 dollars to 112.45 dolalrs.

On the currency markets, the yen Monday morning in front flexes in other currencies. The intervention of the BoJ has helped slow the sharp rise of the yen against the dollar. Around 10:30 am Tokyo time on Monday, the dollar went back to 82.20 yen after falling to 80.60 yen on Sunday, its lowest level in four months. For its part, the euro fell to 112.47 yen.Against the dollar, the European currency remains stable this morning at 1.3939 dollar.

Renault, Areva and LVMH affected by the disaster

Renault: -4% to 39.12 euros, the biggest drop CAC 40

Nissan, Renault's Japanese partner in the Renault-Nissan, has closed four assembly plants in Japan and no site would reopen Monday. Nissan, second cosntructeur Japanese manufactures 22% of its vehicles in the archipelago. Furthermore, the manufacturer faces a new twist in the case of alleged espionage. Dominique Gevrey, one of three security officials of the group, was remanded in custody to view this weekend.He is indicted for "organized fraud" and jailed in January following the dismissal last three frames of the group.

LVMH: -2.68% to 107.05 euros, PPR: -1.15% to 107.25 euros Hermes: -2.06% to 149.90 euros, L'Oreal: -1.13% at 80 , 72 euros

The luxury sector is likely to suffer the effects of the earthquake and tsunami that devastated the north-eastern Japan. The archipelago is the second largest global luxury goods market after the United States and elbow to elbow with China. For Hermes is the first market (17% of sales) while for LVMH, representing 9% of sales. The luxury division of PPR meanwhile 16% of its turnover in Japan. L'Oreal, for its part carries about 2.5% of its turnover in the country.

Areva (-8.90% to 31.75 euros) is also affected by the nuclear risks in Japan. EDF (-3.30% to 29.56 euros) is also in trouble as Scor (-4.26% to 18.43 euros).

Bolloré put on Guinea

France Telecom: -0.65% to 15.37 euros

Orange and the Kuwaiti Agility will acquire a 44% stake in mobile operator Korek Telecom Iraq, announced Monday morning the French incumbent in a statement.

Bolloré: -1.20% 156.65 EUR

The group on Friday signed a contract worth 500 million euros with Guinea for management of container port of Conakry, the capital of the West African country, state television reported.

Sopra Group: -1.26% to 70.60 euros

The group announced its intention to hire 2,500 people in 2011 in Europe, 1600 in IDUs in France in the consulting, systems integration and software development.

Altran: 3.76% to 4.41 euros

The French group technology consulting has reported a net income Group share loss of 26 million.The group said to be in talks to divest all of its activities in Brazil. He anticipates continued growth at a high level in France in 2011 and continued improvement of its operating margin in 2011.

Vivendi: -0.43% to 19.65 euros

The group does not invest more than 6 billion pounds (6.9 billion euros) for the redemption of the capital of SFR held by the British telephone operator Vodafone, according to the Financial Times.

Note that the bank is well oriented: Societe Generale is the largest increase (2.80% to 48.06 euros), followed by BNP Paribas (1.39% to 53.88 euros), Credit Agricole (+ 1.37% to 11.82 euros) and Natixis (+0.37% to 4.11 euros).