At L'Oréal, the experts of pharmacy have finally managed to wake a sleeping beauty. After stagnating for years, sales of perfumes, soaps and body care Roger & Gallet jumped 19% last year, reaching fifty million.

The brand certainly still tiny compared to Vichy and La Roche Posay, the flagship of the active cosmetics division (DCA) of the world's leading beauty products. But it is a growth driver for the industry, with Inneov, Sanoflore and Skinceuticals.

The "perfume apothecary", created hundred and fifty years ago by Armand Roger and Charles Gallet, whose stepfather had bought the Glover case of Jean-Marie Farina, inventor of cologne, had its hour glory before World War II.

Restarted after its acquisition by Sanofi in 1975, she was abandoned when the pharmaceutical company took over Yves Saint Laurent perfumes, in 1993. "Roger & Gallet was not a priority at YSL Beauté," says Thierry Vidart, its current CEO, who works for the brand since 1995, and saw her go from Sanofi PPR (1999) and L'Oréal .

In early 2008, the king of cosmetics has offered YSL Beauté for 1.15 billion euros to strengthen its luxury division with a French perfume creator. He has since sold most other fragrances of YSL Beauté (Boucheron, Oscar de la Renta and Zegna), and retained the fragrance license Stella McCartney.

Ambitions in Brazil

It remained to determine the fate of Roger & Gallet, finally recovered in January 2010 by the active cosmetics division, which attempts to revive the brand, sold in pharmacies to 85% and 15% in department stores and perfumeries as Marionnaud.

The new management is doubling, with the aim of "creating the category of well-being by the perfume pharmacy," said Brigitte Liberman, patron of the DCA, and "a new offer to attract new customers to energize the circuit, "which progresses more slowly than the cosmetics market in France. Roger & Gallet products launched to rejuvenate its clientele, such as body care Sublime Oil and fragrance of Osmanthus Flower. Result: Sales jumped 22% last year in 5,000 pharmacies in France where the brand is present.

Roger & Gallet, which generates 85% of its sales in France, was also launched last year to conquer Europe's. It is present in 3,500 pharmacies in Germany, Italy, Spain and England.

It also operates 550 outlets in Brazil, second fragrance market in the world after the United States, with the ambition to make the country its third largest market in three years. "Our goal is to double sales within four to five years, reaching 100 million euros," says Brigitte Liberman.

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Greg Smith stormed out of Goldman Sachs and he indicated in a letter. As part of the bank has many grievances vis-à-vis his former employer. It considers in particular that the corporate culture built around teamwork, integrity and humility is not respected. Worse, he stressed that Goldman Sachs does not work for our clients but to boost its own profits. He said he heard company executives call their customers "puppets". He invited the leaders to challenge and to keep customers at the heart of their concerns. At last report, Greg Smith took care of products for Europe, Middle East and Africa.

For its part, the bank responded. "We disagree with the views expressed, this does not reflect how we manage our business," said a spokesman for the Wall Street Journal.  

Both say, this letter made the rounds of American media and social networks. SurTwitter, the reactions are numerous. Here is a selection of crispy from Internet users. First, that of comedian Seth Meyers who believes that reading the resignation letter is funny. Then, one of Heather K Mak who believes that this writing is a ray of sunshine. Finally, ironically, a Greek citizen said someone feels guilty, to Greg Smith my credit score.

This resignation letter Goldman Sachs is a fun read. nyti.ms/xt5H5D

– Seth Meyers (@ sethmeyers21) March 14, 2012

huge ray of sunshine Into the banking world from year former executive director at goldman sachs via @ @ and sustainnyc mchivot nytimes.com/2012/03/14/opi

. – Heather K Mak (@ heatherkmak) March 14, 2012

Finally, a Goldman Sachs Executive Speaks the Truth huff.to / zDVbAO via @ huffingtonpost Finally, somebody is feeling guilty!

– Vic Panagiotakopoulo (@ VPanagio) March 14, 2012

Other reactions go even further since a forged letter of response from the bank's president, Lloyd Blankfein, circulates:

http://www.borowitzreport.com/2012/03/14/a-response-from-goldman-sachs/

Not to mention the comments of a fellow Canadian and parody of the letter, entitled "Why I quit the empire," by Darth Vader.  

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This is a bad sign for the fledgling market for electric cars. The General Motors has decided to suspend production of its Volt plug-in hybrid for five weeks, the time to "align production with demand." This is an embarrassing decision for the manufacturer, which launched in late 2010 this car with a small engine used to recharge the battery of about 200 kg.

While rising fuel prices at the pump becomes a concern for motorists, the Volt should instead be of great interest. The high price of the vehicle with respect to its performance remains a problem. The sedan costs $ 41,000, not including a tax credit of $ 7500 awarded by the federal government, which wants to promote this technology in the name of reducing pollution. But GM has sold only 7,671 Volt last year in the United States, against 10,000 planned. Since the beginning of the year, just over 1,600 were purchased. The first deliveries of the European version, the Opel Ampera, should start soon.

Purchase long to return

The first American automaker plans to launch a national advertising campaign to boost sales of a vehicle denounced by some as an illustration of a public subsidy "politically correct", without consideration of market reality. GM, which the federal government is still the largest shareholder, was saved from bankruptcy in 2009 by an injection of public funds of $ 50 billion. Despite regular promotions elected by the Democratic Party, sales of electric and hybrid vehicles in the U.S. represent less than 3% of the market.

The main rival of the Volt is paradoxically the Cruze, another vehicle of the Chevrolet brand and look identical. With a conventional gasoline engine but more economical than previous generations of vehicles in this category, the Cruze costs almost twice as cheap. Consumer Reports, an independent private authority, believes it takes six years to the owner of the Volt to recover the sacrifice he had to agree in preferring the new technology rather than the Cruze. This period is far too long to allow the Volt to generate significant interest in the U.S. market.

The Volt was also hurt by a controversy. Protection of its large battery had to be reinforced after the discovery of spontaneous fires in cars immobilized for several days after a violent collision. Besides the surge in gasoline prices and the upcoming advertising campaign, two other factors are expected to boost sales of Volt in 2012: first orders of General Electric, which manufactures loading terminals for its fleet of company vehicles, and secondly the new California regulation: on motorways, expressways reserved for cars carrying more than one person at peak times will also be open to electric cars, even if they are occupied by only one person …

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One of two blast furnaces Site Florange ArcelorMittal, stopped for two months, should eventually go back soon. According to Nicolas Sarkozy, invited this Thursday morning France Inter, the steel group had decided to resume its activity in the second half of 2012. "Florange is 2667 employees including 500 in a situation of losing their jobs" if the second blast furnace will not restart, said the head of state.

The Chairman of ArcelorMittal, Lakshmi Mittal, Nicolas Sarkozy met yesterday for "a long working meeting," would also committed $ 17 million in Florange, two million for the restart of the site and 15 million for its modernization. "Seven million euros will be invested in a new gasometer and eight million to develop new products in Florange, for without going into detail, the auto market," said Nicolas Sarkozy. ArcelorMittal has confirmed this information in the morning, however, suggesting that restart "from the perspective of an economic recovery."

Chain liquid always threatened

The Indian group has repeatedly in recent weeks that the closure of the Florange was only temporary, and will ensure "maintaining activity in Lorraine." In a context of declining demand for steel, the group's director in France, Hervé Bourrier, however, lamented last week that the Florange site is less efficient than those of Fos or Dunkirk. And stated that even if you restart the site in the coming months whether to continue or not the activity would be reviewed each quarter, "depending on the backlog."

The new announcement leaves employees skeptical. "Nicolas Sarkozy announces investment for cockerie, which feeds the Dunkirk site, and for automotive production. But these two pathways are not endangered, unlike the liquid stream, "says Patrick Auzanneau CFDT union delegate. Questioned by AFP, MP PS Moselle, Michel Liebgott, advanced further than the two million investment announced for restarting the blast furnace were already known. "They were negotiated by the state in compensation it pays partial unemployment since the beginning of the year," said MP.

Ulcos project

The announcement last week of a state investment of 150 million euros was not better received. "This is something that has already been said for months, it's related to Ulcos project", explained to AFP Wednesday an official of the CFDT. The salvation for over 2600 employees, however, could come from this project, whose objective is to produce steel with less CO2. With a total cost of around 600 million euros, its viability depends on the decision of the European Commission for its funding. Arbitration should not take place before September.

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SNCF will release on February 16 as "good" annual results, in the words of its leadership. Yet they will undergo a severe movement of the plane. On 14 February, the president of SNCF, Guillaume Pepy, unveiled to participants of a seminar on "business model TGV" that his group would carry out an impairment of € 700 million on its TGV . "The value of TGV, now in the books of the SNCF, amounts to nearly 4.5 billion euros," he said, according LaTribune.fr who reports his remarks. We will depreciate the 700 million euros because we have too many trains and they are mostly old. "

The fleet has 457 SNCF trains whose average age is 17 years. This decision comes as the SNCF profitability of the branch TGV group – very profitable long – has deteriorated in recent years. An evolution largely attributed by the public company to the concomitant increase in tolls which it must pay with Réseau Ferré de France (RFF), owner of the tract. Since late last week, SNCF and RFF have agreed on changes in rates of tolls until 2018. Guillaume Pepy was this medium-term visibility a prerequisite for engaging in orders for new trains. He said Tuesday that such investments would only be possible when the operating margin of the travel industry would reach 20%. Or it tops out at 14% today.

Until 2015, the fleet will continue to welcome new trains: 15 "Euro Duplex" will be delivered by Alstom in 2012, 11 in 2013, 11 in 2014 and seven in 2015. According to its chief financial officer, David Azema, who intervenaitle February 15 parliamentary days when the rail is in fact particularly after 2025 that the station should replace trains end of life.

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By buying in May, 70% share of the capital club for just over 30 million euros, Qatar Sports Investments (QSI) ushered in a new PSG financial sphere. "Lyon brought an offering in February 2007, 28% of its capital to 100 million euros, valuing the club at 360 million, said Vincent Chaudel, expert sport at Kurt Salmon. For its part, the Parisian club would be valued 50 million. Is it more than six times less than Lyon? I'm not so sure.Potential, if only as local, is enormous. "

"Manage your club is good, investing is better"

For its part, the main shareholder of the OM, Margarita Louis-Dreyfus was clear: "I am neither my husband (Robert Louis-Dreyfus died in July 2009 and former owner of Marseille) or Qatar," Has she told the world last October. In other words, it does not align the euro as easily as the Qataris. "Manage your club is good, but it's better to invest a club like OM, which is dependent on the income earned by the Champions League. And if he does not qualify for this competition, losses can reach 20 million. Which, for a budget of 140 million, is not negligible, "said Vincent Chaudel.

To: "Rigorous, that means we are trying simply not to spend more than we earn, defended Gilles Carrez (UMP), General Rapporteur of the budget to the National Assembly. This is still the least serious. It's been 35 years since we spend more than you win. "

Cons: Attention Cycle "infernal restraint, lower growth," warned the Socialist Michel Sapin, close to François Hollande.(…) Must be avoided that there is more possibility of moonlighting. "

More broadly, the self-entrepreneurs fear that their services are subject to VAT, which would increase the cost to the customer and complicate their efforts. "If the specific regime of VAT on maintenance, repairs had to be increased from 5.5% to 7% to meet the economic challenges in Europe and that of the euro", the Union of self entrepreneurs ( UAE).

• Taxing more large companies

To: The boss of bosses Laurence Parisot is not opposed to the principle: "It is possible to consider things temporary, exceptional measures, time adjustments. But we must not imagine a device that would be sustainable.

In the early morning, Prime Minister Iveta Radicova recognized that there was still no agreement in favor of a positive vote. The government could be forced to get a favorable vote, to offer in exchange for the organization of early elections.That is to scuttle.

Slovakia is the last state to ratify the agreement of 21 July, which must be adopted unanimously by the seventeen member countries of the euro area to take effect. If the vote is negative, in a few hours, the shock could be severe in the financial markets. Sole ground of hope, the Slovak parliamentary system allows in case of negative vote of Parliament to seek a second, which may occur on weekends and offer a last chance for negotiations.

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"SPECIAL – Crisis: the fear of debt

After weeks of dithering, European leaders have taken in hand to avoid a collapse of the banking sector, weakened by the debt crisis, which brought down the French-Belgian group Dexia. The markets were also reassured by the publication of macroeconomic indicators in the U.S. exceeded expectations: job creation in the private sector and the ISM services.

Caution before the employment figures

Investors in Europe and the United States should however be cautious before several major macroeconomic deadlines.On Thursday, the European Central Bank (ECB) announced on Thursday to maintain its 1.50% interest rate, reference the cost of credit in the euro zone, despite the sharp deterioration in the economic and financial crisis.

Investor caution should also be strengthened by the expectation of official figures of employment for the month of September in the United States to be published Friday. Meanwhile, new jobless claims are slightly lift the United States during the last week of September, according to figures released Thursday by the Washington Department of Labor.The Ministry has identified the deposit of 401,000 applications for unemployment benefits in the country from September 25 to October 1, adjusted for seasonal variations, or 1.5% over the previous week, which is consistent with the estimate of analysts.

On the foreign exchange market, the euro reached 1.3331 dollars. A barrel of crude is trading at 102.38 dollars for Brent North Sea and 79.50 dollars for U.S. crude.The ounce of gold is trading in 1644 dollars.

Investors will have their eyes on Apple and Yahoo

As for values, investors will have their eyes on the technology sector.

• Apple should be particularly observed after the announcement of the demise of the group's founder Steve Jobs.

• Yahoo is the subject of new rumors of a possible bid from U.S. computer giant Microsoft, which had tried to capture in 2008 of U.S. internet group.

• Hewlett-Packard should not make further major acquisitions in the software after the acquisition of Autonomy, according to statement from the group's new boss Meg Whitman, quoted by Reuters.

• Boeing received an order for $ 1.1 billion from Ethiopian Airlines for four Boeing 777 freighters.

• Gilead Sciences has granted a license agreement Boehringer Ingelheim for the exclusive rights to research, development and commercialization of an anti-integrase for the treatment of HIV.

• Marriott International has released the third quarter, earnings per share of $ 0.29, up 32% year on year. Turnover was 2.9 billion dollars against 2.6 billion last year. The revenue per available room key indicator in the hotel sector grew by 8.7% on a comparable basis, while prices rose by 5.3%.

Also note Peabody Energy and ArcelorMittal will extend their bid for Macarthur Coal until October 28.

His method and revenues to improve the performance of Accor are particularly expected that the share price has lost more than 30% since the beginning of the year, in a very difficult indeed. "We should have a clearer view on marketing initiatives, brand repositioning and expansion plans, hoping Exane analysts in a note published this week.Their impact will probably do not feel immediately, but a better brand strategy could lead to a better average income in both years, as if Holiday Inn has reopened. "

Accor should provide a detailed annual forecast for the year. In a context of great tension on the purchasing power, investors also hope that the group will provide guidance on trends for next year.

But the most anticipated the evolution of the brand portfolio, a question that Denis Hennequin, who spent his career at McDonald's, has always considered a priority. Reportedly, the CEO of Accor is expected to announce its intention to make Ibis spearhead the group's development in economy hotels. Ibis brand is already the highest contributor to the results of Accor.Denis Hennequin wants to further exploit its strengths in the imposing new on land now occupied by All Seasons and Etap Hotel. Ibis would be broken down into three "versions": Ibis, corresponding to the current Ibis, standard hotels, all in the same vein Ibis Styles, corresponding to the current All Seasons hotels, which would then be renamed; Ibis Budget, instead the current Etap Hotel. New logos would be launched with a pillow and different colors according to the formulas (red, green or blue). lnterrogée yesterday, the management of Accor declined to comment.

In the 2010 annual report of the group, Denis Hennequin felt the need to strengthen the brands so that they emit more personality. "They will be more aggressive in their communication, in their boldest and most innovative design in their service offerings," he writes.He continued: "Our priority is to strengthen their DNA. Ibis is a good example. It is not only the first contributor to the results of Accor, but also a nugget: in a market dominated by the economic basis of price, it has more soul and warmth that all clients recognize him. This is all the difference. "In late January, Ibis opened its 900th hotel in the world, in Tangier in Morocco.

"The Big Mac of Accor"

Launched in 1974 in Bordeaux, the chain now operates in fifty countries. It has opened 44 schools last year and provides 10,000 new rooms per year by 2015.In addition to providing accommodation at an affordable price, it offers the opportunity to purchase snacks and drinks 24 hours 24, a breakfast from 4:00 am to noon and to use an Internet space.

In late February, presenting the results of the exercise, Denis Hennequin was ruled IBIS takes to become a world reference. "Ibis is a bit of the Big Mac Accor, a jewel in a market economy. This is a brand that works everywhere, "he was delighted, much more critical of other brands. After the Big Mac index, he said he would see an "Index Ibis" to the extent of the global economy hotels. Walking is engaged …

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