L'Oreal wins year after year market share in China. Under the name "The Or Yia" (Beauty of Europe), L'Oréal remains behind his rival Procter & Gamble that market estimated at nearly 100 billion yuan (12 billion euros) since it holds just less than 12% of total sales in 2009, against 19% for the U.S.. The attack strategy of L'Oreal to settle as a leader in China seems not only feasible, but it also promises to bring much to the French group.

L'Oreal, which sponsors the World Expo in Shanghai, will provide 20% more revenue in the country this year, one billion euros. This is what Paolo Gasparrini, the boss of China said on Tuesday there.In 2009, sales have climbed 25% on a comparable basis (862 million euros) in China, making the country the fifth largest market growth in its insolent.

"We expect 650 million new customers in the Asia-Pacific, with half in China," says the director of L'Oreal in China to Echos.

The men discover cosmetics

According to the Financial Times, the products of Skincare for Men Rise particularly in China sales rose 27% in one year and in 2009 the rate reached 40% since the beginning of 2010 overnight pay day loans. That's five times more than the same products for women.

Improve the look for men is to give more chances to marry, the newspaper said. In general, the physical is very important in China.Traditionally, women were preparing their own products for skin with water such as rice. "A person picks up pretty easily for a job or a good partner," says Lin Xinrong, Chief of Research & Development of skin care in Shanghai, quoted by the newspaper.

L'Oreal has understood that its Chinese customers is unusual. Therefore 80-85% of L'Oreal cosmetics products are specifically developed for this destination.

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"The government is out of the woods", as Le Parisien, Aujourd'hui en France on Saturday. According to the newspaper, Eric Woerth, Minister of Labour, is about to finalize the report of government policy on pension reform. A "document of step" with a score of pages should be sent to unions and employers late Sunday afternoon, within the time allowed by Nicolas Sarkozy.

The president had asked last Monday, his Minister of Labour announcing the broad principles of pension reform "early next week." A complete overhaul of the system seems already excluded. "If many doors remain open, one or two tracks will be closed by some claimed," confirmed the Ministry of Labour today in Paris, France.

Employment of older people will be at the heart of the reform, the newspaper said.The Government would consider special measures "in human resources and working conditions" to ensure increased employment rate of older workers. Longer working hours and thus, delaying the age of retirement seem to have largely favored the government.

Especially in its latest report released Tuesday, the Board of Retirement Guidance (NRC) has evaluated several scenarios to fill the "hole" of pension funds, which should reach 30 billion euros in 2010. All sought to delay the moment of retirement.

Operate the lever tax

Another sensitive issue for the unions, the contribution period required for a full pension should be extended. In return, Eric Woerth has recently influenced his opposition to tax the lever to secure "additional revenue".Raising the CSG on capital income and savings, increased levy on high income … Several ideas are in the process of arbitration, as the Journal du Dimanche.

Eric Woerth will begin next Tuesday a new series of meetings with leaders of trade union confederations and employers' organizations. Last April, they unveiled a ambitious reform agenda: first tracks in May, major decisions in June, Council of Ministers in July, and passage in Parliament in September.

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The CAC 40 Opens Wednesday's session again on a decline. After a dramatic surge Monday and a break Tuesday, the Paris markets following the U.S. trend and Asia, that is to say on a bearish note, including a technical standpoint.

The markets have overreacted to the emergency plan Monday to the European Union, blew Tuesday, notably taking into account the economic difficulties of the Old Continent in the medium and long term are not resolved. In the first exchanges, the CAC 40 was down 0.75% to 3665.8 points.

Thus, the uncertainty takes over your life.However, markets hate uncertainty, particularly the euro remains under pressure against dollar propels gold higher: an ounce reached 1235 dollars in Hong Kong on Wednesday morning.

The key index in Paris also changing depending on the reaction of investors to the rain of macroeconomic publications in France, Europe and the United States. Many companies have released their quarterly revenue.

Torrent indices importance

In France, consumer prices rose 0.3% in April compared to March to receive an increase of 1.7% year on year, according to Insee.Another factor is the expected French industrial investment rose 6% in 2010 (against 5% previously).

However, French growth was revised in 2008 to 0.1% (against 0.3% previously announced) and in 2009 to -2.5% (-2.2% cons), while the GDP rose only 0.1% in the first quarter of 2010, according to a first estimate.

Furthermore, the current account deficit moved to France to 4.8 billion euros in France in March, after 3.5 billion in February, said Wednesday the Bank of France.Twelve-month cumulative current account deficit amounted to 40.6 billion euros in raw data.

In Britain, the unemployment rate in April will be unveiled, while Gordon Brown leaves his post as prime minister in favor of Conservative David Cameron.

In the euro area, the first estimate of GDP over the first three months of the year is included on all agendas investors.Industrial production in March for the sixteen countries with the single currency will also be scrutinized closely.

In the U.S., the news is also responsible macroeconomic Wednesday, including figures on external trade in March (1430) and the traditional weekly crude oil inventories (1630).

Vivendi largest increase in the CAC 40

Vivendi (1.03% to 18.1 euros) has issued a consolidated net profit of 598 million euros (+21.3%) and a turnover which rose by 6% to 6.9 billion Euro. The titles show the largest increase in the CAC 40 in front Lagardere (0.14%, to 27.95 euros).

Natixis confirmed its recovery. The company posted its third consecutive profitable quarter to 464 million euros, against a loss of about 1.8 billion euros in the same period last year.Its parent company, the group BPCE, publishes a quarterly net profit of around 1 billion euros. Natixis shares climbed 3.15% to 3.86 euros, or one of the best performances of the SBF 120.

For its part, Dexia said it earned 216 million euros in the first quarter, better than expected, but less than a year before. His exposure to the debt of Greece to 3.7 billion euros. In an interview with Le Figaro, Pierre Mariani, the CEO wants cautious for 2010.

Leading the SBF 120, Steria: turnover rose 2.9% at constant scope and exchange rates in the first quarter to 414.6 million euros for the group of services. The shares are 7%, 24.3 euros.

Just behind Ipsos (3% to ? 29.65) expressed confidence in his ability to resume in 2010 with sales growth and profit margins after a first quarter rebound in activity.

CNP Assurances (0.58%, to 62.7 euros) saw its net profit in the first quarter bend 2% a year. It has indeed reached 280 million euros in the first quarter for a turnover of 9.4 billion euros.

TF1 bends, Rexel fall

In TF1 (-2.63% to 12.94 euros), the advertising sales rebounded 13% in the first quarter. Chain foresees for 2010 a growth twice higher than expected turnover in favor of the integration of a TMC NT1.

Its parent company Bouygues (-0.53% to 34.42 euros) said Tuesday quarterly sales fell slightly, the growth activities of Telecom and TF1 was not enough to offset the decline in construction and Colas.

Telecom side, it is SFR and Bouygues Telecom who have hoisted the leading French telecom operators in the first quarter in terms of winning new subscribers in the fixed (ADSL), enjoying a particularly poor start to the year at France Telecom ( -0.25%, to 15.9 euros).

In addition, the telecom regulatory authority, Arcep said Tuesday that Free Mobile, Orange and SFR had applied for the two blocks of spectrum third generation mobile (3G) Residual now available in France .

NRJ Group (-0.27%, 7.5 euros) has announced a turnover down 1.7% in the first quarter, the combined effect of the decision of the musical and Cleopatra a media market remains timid.

For its part, Metropole TV (M6) tumbles 11%, to 17.84 euros.

Rexel fell 5.25% to 11.37 euros.The electrical equipment distributor issued a quarterly revenue of 2.7 billion euros, down 5.7% on an organic and an EBITA of EUR 109.3 million, up 33%.

Meetic climbs

Derichebourg announced Tuesday a 18% jump in net sales in the first half of 2009 to 2010 at constant perimeter and constant exchange rates due to strong growth in its environmental services industry.

Meetic (7%, to 20 euros) on Tuesday reported a 37.6% increase in its quarterly revenue, to 43.4 million euros and confirmed its growth target for pro-forma revenues of between 7 % and 10% for the full year 2010.

Finally, the Bollore Group said Tuesday have options to sell two thirds of its stake in Vallourec in May 2011 at a guaranteed price of 136 euros per share.The exit clause if Bollore exercised, would cover an amount of 267 million euros and represent a potential capital gain of 130 million euros.

After the additional $ 10 billion claimed by Freddie Mac in Washington, his sister Fannie Mae has requested $ 8.4 billion to the state by the end of June to offset its deficit. "Our first quarter results are due primarily to costs associated with credit, which remain high due to weaknesses in the economy and housing market, Fannie Mae said in a statement.

This is in addition to an extension of the $ 15.3 billion released by the Treasury on March 31 last. "Due to current trends in housing and financial markets, we continue to expect net deficits in the future, and therefore we will obtain additional financing to the Treasury, the company said.

This request comes as Fannie Mae has released today a loss of 11.5 billion dollars in the first quarter.A loss to which we must add the payment of a dividend of 1.5 billion dollars to the federal government. On Thursday, Freddie Mac announced a loss of 8 billion dollars by way of the first quarter.

Senators resist

Victims of the credit crisis, the two institutions, which guarantee more than 40% of outstanding mortgages granted in the United States have been saved from bankruptcy by the U.S. government.

The Senate voted Wednesday an amendment canceling a fund of 50 billion dollars (39 billion euros) in charge of the liquidation of banks and other financial institutions of importance.

In late 2009, the Obama administration is committed to cover an unlimited losses "Freddie Mac and Fannie Mae" until 2012.

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Meeting in Brussels, the Heads of States of the euro area have finally approved the activation of the financial assistance plan 110 billion euros to Greece three years. Moreover, on a French initiative, they announced the establishment of "a Community mechanism to intervene" to help their country would face financial difficulties and this, in order to preserve financial stability in Europe. More specifically, it would be a fund to help countries threatened to defend the euro.

According to government sources, the European Commission could contribute in the form of loans to the tune of 70 billion euros. The European Central Bank (ECB) will also participate. "All institutions are determined to act," said Nicolas Sarkozy simply at the press conference that followed the discussions."We will not let destabilize the euro zone for behind, there is the growth of European jobs," he said.

The Heads of State and Government decided to convene a meeting Sunday of finance ministers across the European Union to finalize the operation and financing of this novel device, which forevermore assembly developed for Greece . "On Monday, the mechanism will be operational," said Nicolas Sarkozy, sending a signal to markets still very upset.

"We will do whatever it takes to defend the euro," piped up the European Commission President Jose Manuel Barroso.

Pressure on ECB

The other track would be mentioned that the ECB buys bonds issued by states of the euro area, to provide them in exchange for cash.According to the same diplomatic sources, the European Commission would now pressure on the ECB to make sense in a concrete proposal to support the euro area. In their draft agreement, the leaders of the Eurogroup, however, have said they support "full action of the ECB to ensure the stability of the euro area.

Monday, lcette last announced it would accept the Greek debt as collateral for its loans, regardless of their credit ratings. Extending this unprecedented step for all countries in the euro area "would be a strong signal to markets" would have said the president of the European Commission Jose Manuel Barroso. But on Thursday, the ECB said it had not considered.

At the meeting this Friday, the president of the European Central Bank, Jean-Claude Trichet, have estimated that the eurozone faced a "systemic crisis".

Tighten fiscal discipline

The euro zone leaders agree at least on the need to tighten fiscal discipline. A commitment to ensure that "Greece is not only to reduce its deficits, but that we work so that all the Stability and Growth speedy again respected," said German Chancellor Angela Merkel in Brussels. "The leaders will do whatever it takes to meet budgetary targets," says the text of the draft agreement. A penalty system "more efficient" will be established.The European Council President, Herman Van Rompuy, reported that an agreement between heads of state had been reached for "a strengthening of economic surveillance and policy coordination."

Finally the sixteen Heads of State and Government reiterated their determination to "move quickly on the regulation and supervision of financial markets. They also insist on the creation of "a European rating agency.

Barack Obama supports the EU

Moreover, since the White House is that Barack Obama supported the European heads of state on Friday. "I made it clear that the United States supports these efforts and will continue to cooperate with EU authorities and the IMF during this critical period," he said, after talks with Angela Merkel.

American concerns grew at the same time as the market stress. Wednesday, Charles Plosser, a leader of the U.S. central bank (Fed) has assured that "the economic recovery of the U.S. could be delayed by a further turmoil in financial markets. Recent events in Greece are one of the factors likely to influence the evolution of the U.S. economy. "

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The concern is strongest on Wall Street. While the Greek parliament adopted the austerity measures required to pay using the EU and the IMF, the American financial markets plunge. The Dow Jones fall at the close of 3.21% to 10,520.32 points, the Nasdaq lost 3.44% to 2319.64 points and the S & P 500 3.24% cowardly to 1128 points.During the session, the markets have even panicked: the Dow Jones has suffered a historic collapse of 9% and the Nasdaq is up 8.85%! But according to CNBC, a single error in a large trading company was behind the short dip seen between 14 hours and 15 hours …

Strengthening investor panic, the spokesman for the White House said the reforms, as austerity plan imposed in Greece were "important" but they "take time".

"The situation in Europe has a low potential impact on the U.S. recovery. But this remains an important market for import and export for many countries and the euro is the second currency of international transactions, "says Fred Dickson, chief investment strategist at Davidson Cos.."We all know that we also have budget problems and deficit," warns Jay Suskind of Duncan-Williams, implying that the United States themselves might be affected.

Again, fears of contagion go before the national indicators. However, good news came on the employment front. Entries weekly unemployment declined in the United States during the first week in May, against 444,000 451,000 the previous week, according to the Department of Labor. Economists had expected jobless claims averaged 440,000.

In addition, productivity gains of U.S. companies have been higher than expected first quarter. Productivity increased 3.6% over the fourth quarter, while analysts expected an increase of 2.5%.

The euro plunged again

The euro sank under $ 1.26 for the first time since March 2009. The European currency, which was still worth $ 1.33 last Friday, has broken the symbolic threshold into this new 20:45.

Investors were disappointed by the decision of the ECB to keep interest rates unchanged, while some wanted the European monetary authority takes steps to stem a possible contagion of the Greek debt to other countries the euro area paydayloans.

And the fences in the bright red of the European markets do not help matters.

Oil tumbles

Oil prices fell for the third straight session Thursday in New York.On the New York Mercantile Exchange (Nymex), a barrel of light sweet crude for June delivery ended at 77.11 dollars, down from 2.86 dollars the previous day. Over the past three sessions, he accumulated a dip 9.08 dollars, or 10.5%.

"This is entirely due to macroeconomic concerns," said Ellis Eckland held, independent analyst. "The debt crisis in Europe would clearly be negative for economic recovery in the world, especially in Europe."

Freddie Mac and distributors troubled markets

On the side of values, Freddie Mac has asked yesterday in federal funding additional $ 10.6 billion the U.S. Treasury. At the end of 2008, the Treasury has pledged to cover an unlimited losses for Freddie and Fannie until 2012. This new application brings to more than $ 61.3 billion total spent on federal aid to rescue Freddie Mac.In trading, the shares drop 6.24% to $ 1.34.

Retailers Costco Wholesale Corp. and Gap reported sales difficult last month, up just 0.5% for the first and were down 3% for the second comparable basis. Consequence: their respective securities fell by 3.86% to 58.03 dollars and 7.17% to 22.91 dollars.

In their wake, Target was down 1.86% after publishing sales down 5.9% in April against 2.3% expected by the markets.

The telecom equipment maker, JDS Uniphase (-20.15% 10.94 dollars) has announced a loss of 11.9 million (101.7 million against last year). The sales were above expectations at 332.3 million dollars.The company said stronger growth in its order book for 2 years in the first quarter

The security software vendor Symantec (+1.72% to 16.53 dollars) announced a profit of 184 million dollars and the video game publisher, THQ, significantly reduced its losses to 10.4 million against a deficit of nearly $ 100 million last year.

The CBS group (-4.49% at 14.88 dollars) recorded a loss of posting $ 26.2 million for a turnover of 3.16 billion.

Buyers are decidedly paradoxical. When asked about what they expect stores tomorrow, they respond primarily to 34%, they want an organization to save time and choose more quickly. According to the survey ViaVoice-Equipmag conducted among 1010 people, then they are 27% expect more user-friendly spaces, especially with those fashion shops incorporating these bars or cafes with a small library …). They seem torn between the quest for efficiency (less time lost in the shops) and the willingness to spend a pleasant and friendly.

The host and the board

Without hesitation, the respondents clearly prefer the home, advice and human contact for 62% of them as the main element that encourages them to buy magazine.Again, we find this search of human qualities in an age where technological progress is often accompanied by dehumanizing Fast Cash Without a hassle. Followed far behind the presentation of products (26%), failure to see the news (24%), awareness of brands offered (18%) and window (12%).

Launched premiere trade fair trade and distribution Equipmag be held in September in Paris, the poll will traders food for thought. In a slump, and while online commerce continues to nibble away market share, the traditional business's mission of "re-enchant the store."This does not, moreover, reflect on synergies with online distribution: this year the show will be held next Equipmag exhibition of e-commerce to enable visitors to go from one to another.

The U.S. stock market should resume a little high on Monday. The index futures are predicting a slightly higher opening of U.S. markets. The index futures Standard & Poor's 500 and Nasdaq 100 advance respectively from 0.20% to 1 185.80 points and 0.25% to 2003.80 points. Friday, Wall Street finished the week sharply down. The Dow Jones and Nasdaq had lost 1.42%, respectively and 2.02%.

Friday, financial stocks have been penalized by the judicial proceedings against Goldman Sachs. The action of the merchant bank has plunged nearly 10% Friday it swept away its main competitors.For his part, the technology sector has suffered from disappointing results of the McAfee antivirus editor (- 12.1%) and manufacturer of components for computer chips MEMC Electronic Materials (- 18.6%).

From the values listed today, Continental Airlines and United Airlines have announced their merger by exchange of shares. The two brands will be retained but the company will be the first on American soil with 21% against 20% of lines for Delta.

Most companies (62%) of the Standard & Poor's 500 have now published their results. And the ads businesses emerge well above expectations. Over 80% of companies have announced earnings per share higher than the consensus and 73% of sales above expectations.

This week and major publications are rare.Note, however, Pfizer will announce its quarterly accounts tomorrow, CBS and Time Warner on Wednesday, Kraft Foods and Sara Lee on Thursday and Friday FC Industry.

The eyes of investors will focus on the macroeconomic indicators. The ISM surveys today and Wednesday and those on the job Friday will be the leading indicators of the week. Today on Wall Street, investors will also monitor expenditures and household incomes in April construction spending in March and sales of automotive sector in April in the afternoon.

On the foreign exchange market, the euro lost some ground against the greenback, but morning but remained above the threshold of $ 1.32, despite concerns expressed by operators on the obstacles that may still arise before the bailout 110 billion euro budget of Greece.

A few minutes after playing the ukulele, billionaire Warren Buffett held a highly anticipated speech on his views on the matter Goldman Sachs during his famous annual general meeting of shareholders of his holding company Berkshire Hathaway.

If prosecution by the SEC (Constable American Stock Exchange) fraud linked to subprime * from Goldman Sachs, now coupled with a criminal investigation, has reopened the debate on capitalism in general and the behavior of banks in particular, "said the sage of Omaha supports the weight of the world's largest bank, in which he invested in September 2008 – is in financial crisis – some five billion dollars.

Before 40,000 investors whose excitement gave way to silence, the star of finance has given quite a boost to the credibility of Lloyd Blankfein, Goldman Sachs boss – who is still not at the end of its penalties – and his bank, which suffers in the stock exchange since the complaint the SEC on April 16: From U.S. $ 184.3 to 145.2 dollars, the stock has tumbled 21.3%, of which -9.4% Friday while S & P advised to "sell" the securities.

Also in humor, Warren Buffett, who is seeking a successor – he will blow his 80th birthday next August – will be delighted that Lloyd has a twin brother "to select it.More seriously, without giving names, Warren Buffett assured that if he died tomorrow, there would be "a new CEO within 24 hours."

Accepting mistakes

"It's a little hard for me to have much sympathy for a bank that has made the wrong choice," he said, referring to financial institutions that bought the famous product Abacus created by the young French Fabrice Tourre .

Certainly, the financial product was very complex, but, as the guru, a bank like ABN Amro knows what she does when she made a "deal". But this one has not made the expected result for the Dutch establishment. We must assume, for Warren Buffett.

The fault with the regulations, not banks

While the banking sector reform in the United States wades, Warren Buffett believes that this regulation is responsible for the financial woes in recent years, not the banks.

According to Deputy Buffett, Charlie Munger, who spoke on Sunday, "the problem is that our banks and investment banks are regulated by a combination of permissiveness and stupidity." For him, the bankers are problems like tigers escaped circus gone mad. "It's that idiot guard tiger who has not made the job" summarizes the investor. "The regulatory system of government has deceived us."

Berkshire Hathaway goes green

The Berkshire Hathaway investment fund billionaire is ironed in the green in the first quarter with net earnings of $ 3.63 billion, while filming a loss of 1.53 billion over the same period a year earlier ."These results show that the economy is showing signs of significant occasions for the first time," concluded Warren Buffett.

Announced Saturday, these preliminary figures attest to the vibrancy of its business in derivatives, which revives the profits from 1.41 billion dollars, while the loss was $ 3.24 billion in the first three months of the year.

Operating income rose 30% to 2.2 billion dollars against 1.7 billion a year earlier.

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Jean-Louis Dumas in June 2001. Photo credits: AFP