While creative advertising agencies are competing for the creative awards (Cannes Lions, Art Directors Club …), the trading them, and their advertising clients prefer to get a price Effie, synonymous with effectiveness measured, proven and proven to a jury of twenty professionals (advertisers, agencies, media, research institutes), chaired this year by the president of Ipsos, Didier Truchot.

For the first time in its history, the awards reward campaign B to B (that is to say for professionals) conducted by the agency Leg (Havas) to SFR.

Moreover, after falling more than 3% over the last two sessions, the euro started from the front, going above the $ 1.37 mark at 1 paydayloans.3735 dollars (0.53 %).

Thus, the CAC 40 futures contract maturing in November rose 1.7% to 3120 points."The hopes are placed in a sign of further easing to come, to ensure that the U.S. economic recovery do not bow," said Jonathan Sudaria operator for Capital Spreads.

France and Germany asking for explanations in Athens

On Wednesday evening, the markets will be attentive to the scheduled meeting between Nicolas Sarkozy, Angela Merkel, George Papandreou and the IMF. A meeting which follows the approval last night by the Greek government for the holding by the end of a referendum on the European Agreement last Thursday.

Investors are wary and vis-à-vis the euro zone leaders, whose plan to end the debt crisis on Wednesday is expected.Thus, the Japanese Minister of Finance today called Europe to take steps to restore calm on the foreign exchange market. "The stability of the foreign exchange market can be ensured by a single country," said Jun Azumi at a press conference, while Tokyo is facing a record surge in the yen weakening industrial activity in the archipelago. "The European problem is entering a decisive stage, he added. The question is whether Europeans can establish a pattern likely to appease everyone. We call them to do so without firing a shot. "

Clearly, the statements by Franco-German tandem, following a first anti-crisis EU summit this weekend, are still a sceptiscisme markets. In this line, Baroin, Minister of Economy, was considered "satisfied" on Monday that European leaders would reach a "global agreement".For the Minister of Economy, the last meeting of the euro area in Brussels this weekend in Brussels has led to progress "two thirds" of the negotiations.

The price of gold mixed black

But investors, it seems, keep in mind the slowness with which the European Union handled the crisis of the Greek debt, leading to a contagion of the crisis. And in Italy, while rumors of using the European Union and the International Monetary Fund will crescendo in Rome.It must be said that for the first time since the outbreak of the sovereign debt crisis in November 2009, the EU will apply directly to other states and their sovereign wealth funds to head out of water and multiply the capabilities of the European Financial Stability Fund (EFSF).

As for commodities, oil prices were mixed in early trade on Tuesday in Asia, a barrel of "light sweet crude" for December delivery gained 27 cents to 91.54 dollars. Barrel of Brent North Sea crude for December delivery yielded 44 cents to 111.01 dollars. For its part, the euro fell slightly against the U.S. dollar, losing 0.14% to 1.391 dollars.

Side values, Japanese banks are feeling the pinch: Sumitomo Mitsui Financial Group lost 1.11% to 2140 yen. As Mitsubishi UFJ Financial Group, to -1.48% at 334 yen.At the Hong Kong Stock Exchange, the values ​​are dependent on raw materials, however, much higher, the image of China Coal Energy (5.83% to 9.26 Hong Kong dollars) and oil giant CNOOC (+ 4.68% to 14.32 dollars).

After writing last week in the management, staff representatives will be received Monday morning in Noisy-Le-Grand, at the headquarters of Findus France as part of a central works council (CEC) extraordinary. A representative from the shareholder will also be present. The sale of Findus would have to be formalized.

At Boulogne-sur-Mer, where the factory is located in the French group, employees are in shock. In late July, announced with great fanfare Findus have "saved" in extremis its plant relocation.Lion Capital had then committed $ 11 million in three years and create fifty jobs. This allowed to increase by 25% the production capacity of the plant, which manufactures the famous Croustibat breaded fish sticks.

Sales growth of 8% in 2011

At a time when the group is about to change hands, its French subsidiary has never paid as well. In early September, its chief executive, Matthew flaps, which took over in 2005 and recovered the activity, anticipated sales growth of 8% in 2011. Findus France, which is given five years to grow 50% this year should exceed the threshold of 200 million euros. The group, which launched eleven new products in September, also plans to invest the radius mellitus.

He also removed the last year of palm oil revenues apples hazelnuts and other breaded fish.The dynamism of the business, coupled with the withdrawal of Nestlé (Maggi) radius frozen, Findus allowed to steal first place in the Hexagon. The radius of the frozen ready meals, it is nonetheless the third, behind Maggi and Mary (LDC).

In France, Spain, Britain and Scandinavia, Findus is not his first change of ownership. In 2000, Nestlé had sold the specialist frozen Swedish EQT fund while retaining a portion of the business, now sold under the brand Maggi Frozen. Six years later, Findus was found in the bosom of another fund, Capvest. Lion Capital is offered it in 2008 by paying 1.2 billion euros. This allowed him to bench other funds, Permira and BC Partners, which could again review the case.

Pedro Passos Coelho – Our views are converging. We must accelerate the process of ratifying the plan in July that the EU speaks with one voice. It is essential to avoid systemic risk. How to convince the markets where European leaders expressed doubts on the future of Europe! It must be absolutely avoided, it is better to be silent than to sow doubt.

Would it be better to organize the failure of Greece?

I refuse to make predictions, I'd rather be patient and hope that Athens takes its objectives and carry out sustainable reforms. If Greece dark, the entire EU to be at risk.We need to help Greece and at the same time strengthen the EU, to establish a more integrated economic government which deals with taxation.

What are the consequences in Portugal of the deepening crisis in Greece?

Portugal is in a vulnerable position vis-à-vis Greece. If the crisis worsens, it will make our recovery process more difficult. My vision is very pragmatic: we must make every effort to carry out reforms and fiscal consolidation.

Economists doubt your ability to meet commitments on fiscal 2011?

The aid package was negotiated before the elections. Since then we have taken additional steps preventive and our calendar of spending cuts is more ambitious. We have the political support for it.We will keep the target of 5.9% of GDP deficit in 2011 and are targeting a primary surplus (excluding debt service) in 2012 for a balanced budget in 2015 and an external account deficit by half a point against 9% last year. In addition to the expenditure side and the privatization plan, we will conduct several structural reforms, justice, labor market, too rigid regulation. We will create a board of public finances, which will be independent to ensure full transparency in the management of the state.

Where are you from privatization?

We are to remove the golden shares held by the state in public enterprises, then we will begin the process of privatization in the energy sector by mid-November, by selling the companies for electricity, gas and oil, which Galp.We will then proceed to the privatization of the airline TAP, the airport manager Ana, mail, freight rail and radio station public television RTP. The whole process should be finalized in late 2012, the objective to recover at least 7 billion euros.

Have you received expressions of investors?

Yes, many, from the European economies but also emerging countries, Brazil, China and several Arab countries easy payday loans.The president of the National Bank of Economic Development in Brazil (BNDSE), the President of Brazil, Dilma Rousseff, Lula and his predecessor have already come to us with investor interest in Brazil.

This interest is there also for the government debt?

The purchase of public debt is subject to specific rules, but the important thing is that there were demonstrations of confidence in this government about the quality of Portuguese debt.

Will you create a wealth tax, such as Spain prepares to do?

We refused this solution, not to discourage large fortunes to come and settle in Portugal. However, we have created a special tax of solidarity that will help tackle the portion of 2.5% marginal tax on income that will affect higher wages and will last two years.We also created an additional tax of 3% on business profits in excess of 1.5 million euros, also for two years. The purpose of these taxes is not to create an additional revenue but to allow us to finance social assistance measures for families hit hardest by the crisis.

What are these measures?

They are primarily related to housing. Households that can no longer repay their debts to buy their apartments can contact their bank for the loan to be converted into low-rent, which will relieve the financially while allowing them to remain at home. Similarly, those earning up to one and a half times the minimum wage benefit from using public transport.In addition, if we were forced to raise to 23% VAT on gas and electricity, we have created a social tariff for the poorest.

How to boost growth given that domestic demand will remain very low?

It is true that the austerity has a recessive effect. The middle class will suffer significant sacrifices. That's the ticket out of the crisis, the price of a country that has spent too long. Domestic demand will have a negative contribution to the end of 2012. This will be offset by exports that are doing well. The adjustment must be done very quickly to ensure the financing of the economy. Privatization are important to increase the availability of cash to help recapitalize banks. This will improve competitiveness, greater openness and internationalization of our economy.The State abound 12 billion euros in guarantees for banks.

Competitiveness remains the weak point of Portugal?

Hence the urgent need to launch structural reforms, which should have been done in conjunction with the entry into the EU. The country in several sectors – textiles, information technology, biotechnology … the high performers.

Invited to France Info, just after the close of the Paris Bourse, which for the first time ever signed a tenth meeting of consecutive decline, including the minister explained that "the questions posed from a double question mark: the character of the strong global economic growth and the important issue in Europe and worldwide of this problem of public debt. "

On this last point, Baroin said that "the determination of the 17 heads of state of the euro area should not doubt the investors." And remember, in reference to the plan of aid to Greece reached July 21, that "in Europe, there was an agreement by the Heads of State very important because it offered answers. These responses must be heard by the markets. "

Latency

The Minister of Economy, however, admitted that there was "a latency reduction" between the announcement of the plan, which is "a good plan," and its practical implementation. It must indeed be ratified by national parliaments. In this regard, Baroin was keen to dispel doubts about the possibility of rejection by the German parliamentarians. "The plan will be voted on July 21. There is no other way to protect our currency which is the common good of the countries in the region, "said he.But "time is not the Democratic one click of a market operator," he said.

In order to "restore investor confidence," Baroin also ensures that "we must strengthen the governance of the euro area to make it optimal."

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The growth is particularly driven by the dynamic activity of water Danone (Evian, Volvic, Badoit …) which carries a record performance in the second quarter (+18.9%). Good weather in Western Europe and Latin America boosted sales, as well as the increase in demand related to the earthquake in Japan. And, in a general context of price increases related to inflation in the price of plastic payday advance lender.

Complex environment

The group's growth also comes from its activities in infant nutrition (+ 9.6% in the second quarter) and medical (8.7%).As for dairy products, including volume growth (-0.2%) suffered from the impact of the integration of Russian Unimilk, they benefit from the growth of its health brands (Activia, Danacol, Densia …). In Russia, its biggest market now in the side of France, Danone bets on the growing sophistication of use.

If Danone anticipate by a "major change in the trend in consumption" in the second half, the environment should remain complex. Faced with the continued volatility of raw materials, the group has already made half of its savings program of 500 million euros. Increased costs (milk powder, plastic …) is finally on the top of the range of 6% to 9% provided by the group, even though it now tends to stabilize.After price increases from 1% to 2% earlier this year, Danone does not resume using the "price leverage" in the second half if the cost of raw materials had to leave.

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Nigeria rebel pirates, looters occasional Asian Seas … Of all the pirates around the globe, the Somalis are by far the most dangerous and costly. And for good reason, "with Kalashnikovs and rocket launchers rustic, they disrupt traffic in the Indian Ocean between Asia, the Middle East and Europe, representing 12% of world trade and 7% of flows hydrocarbons, "said Bertrand Monnet *, Professor of Risk Management at EDHEC criminals.In 2010, 238 million dollars in ransom was paid to the brigands of the sea in the Horn of Africa.

Following this announcement, the title PagesJaunes fell by almost 10% to 5.523 eurosdans early trade while the CAC 40 index opened down 0.14%.

Natixis the broker remains confident despite this warning: "This does, we believe, not question the underlying improvement in activity and the mix of PagesJaunes," said he.He reiterated his opinion 'Buy' with a price target lowered from 9 euros to 7.6 euros.

Orders below expectations

While the group was counting on a few months ago a stable turnover and gross operating margin (GOM) compared to 2010, supported by a growth in orders. PagesJaunes But now announces that "the orders booked by the group in the second quarter of 2011 were not up to expectations." He warned then that "it will not be able to maintain its objectives of stability in sales and gross operating margin for its entire fiscal 2011."

Social movements are related to a "business reorganization plan," said PagesJaunes, which is "the specialization of some of the sales force in certain sectors and an ongoing relationship throughout the year with advertising customers across multiple channels. "

But "if social conflict is, without doubt, the recovery in activity, it is indeed confirmed for nine months," analysts at Natixis relativize. The controls have in fact increased by 1.4% in the fourth quarter 2010 and 3.1% in the first quarter 2011 improved early in the second. "Like the mobile (100,000 customers at end-March), we remain confident about the monetization of investments made by the management for three years," adds the broker.

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"Hailed by the government"

Adopted last month by the Senate, the report produced as part of a joint left-right formula 17 series of proposals to strengthen the local industrial ecosystems. Stronger, French companies will address international markets better prepared. "We must shift up a gear for reindustrialise territories," said Alain Chatillon, also an entrepreneur and chairman of cluster twelve o'clock Pyrenean Agrimip Innovation.

Main proposals of Senators: modulation of the research tax credit depending on the size of companies "to focus on SMEs and mid-cap companies."Similarly, we must increase the share of French companies in public tenders. "It's not the focus but just apply the same rules as the states with which we trade and who are much less open than we are," says Alain Chatillon. Another proposal: "develop the venture capital and capital development at the regional level," which means creating regional funding windows. The senators also proposed to promote a true industrial culture at school. "The Germans are proud to work in factories, why not the French?" Said Alain Chatillon.This requires the development of learning or why not, the obligation for officials to do an internship of several months in an SME "to feel the air of the true France," quips the senator.

Discussed in public session in late April, these recommendations have been "hailed by the government," says one to the office of Minister of Industry, Eric Besson. The first bills containing these themes should take shape in the weeks and months ahead, we are assured at Bercy.

The waiting, the business side, remains as strong as ever: the Richelieu Committee, which includes hundreds of innovative companies, has surveyed its members on the proposals of the Senate: 86% supported the idea of ​​modulating the CIR based on company size.