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In an environment he describes himself as "difficult," Carrefour successful performance to exceed the consensus of analysts. The fourth quarter 2010, posting a turnover of 27.128 billion euros against 26.908 billion expected. Quarterly revenue climbed 5.1% and current exchange rate. Over the full year 2010, sales rose 5.8% to 101.018 billion euros.

The good performance of emerging

The good performance of emerging countries mainly explain this result. Sales are indeed drawn up by the Latin America and Asia who see their incomes increase respectively by 14.6% and 14.9% at constant exchange rates, throughout the year. Conversely, sales in Europe fell by 2.3%, except for France where Carrefour generates half of its activity.In France, they increase by 1.5%, despite "problems of transport, delivery and adverse climate" for superstores.

The Director General, Lars Olofsson, confirms this trend in a statement: "Emerging markets have achieved a solid growth and we have improved our performance particularly in Belgium, Poland, Taiwan and Dia."

Judicial proceedings confirmed

This presentation of results was also an opportunity to take stock of the situation of the group in Brazil No teletrak payday loan.Carrefour confirms the figure of 550 million euros recorded special charges for its local subsidiary, which "consist primarily of depreciation and inventory adjustments, provisions for litigation, tax risks and prudhommaux, discount providers and non-recoverable depreciation tangible assets. "

The band announced in the wake of its intention to initiate legal proceedings in this case. According to information of Figaro, Deloitte, which audits the accounts of the Brazilian subsidiary would be concerned. Carrefour for its part has not submitted a name.

The No. 2 global player, which launched last year two profit warnings, said its operating profit before non-recurring items would be 3.025 billion euros in 2010, up 11% from 2.725 billion recorded in 2009.

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The French market for online advertising has taken over the colors in 2010. Advertisers have increased their net investment of 9% to 2.3 billion euros, according to the Observatory of the e-pub conducted by Capgemini Consulting for Union Boards Internet (SRI). Better still, the market is expected to accelerate its growth in 2011 to grow by 12% and well on course to cross $ 2.5 billion invested.

The market remains dominated by the search, that is to say the purchase of keywords and sponsored links on search engines. The format has increased by 9% to 960 million euros. But – and this is a surprise – advertising graphics (or display) grew faster. Drawn by the growth of video and special operations, these investments rose 12% to 540 million euros net.An unexpected recovery when in 2009 due to the advertising crisis, the display seemed doomed for the benefit of mechanisms favoring performance.

Mobile advertising is growing slowly but surely

In 2010, affiliation (+15%) and comparators (+19%) continued to benefit from the booming online trade. Mobile, yet modest in value with 27 million euros, sees continued growth through the adoption of smartphones and earns 23% a year.

The market has also benefited from the arrival of new advertisers – sectors of luxury, clothing or consumer goods.It displays a cover and reassuring compared to 2009, where growth had slowed sharply, from 23% in 2008 to 6%.

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In the corporate world, the third way is very popular. The number of ruptures conventional employment contract, which is the third opportunity to end collaboration between an employee and his employer, the dismissal and resignation, continues to grow. Between January and November last year, 230,000 amicable separation by mutual agreement between the employee and the employee has been granted, reports Les Echos, against 190,000 in 2009.

Since the inception of this scheme in January 2008 nearly 455,000 were authorized protocols. The bar's half-million of this type of separation could be achieved by the end of January, the newspaper said.

Fewer refusals

The success of this new protocol is also because governments refuse to fewer protocols.The refusal rate reached 7% in November 2010 against 11% a year earlier and 21% in August 2008, when the first signature of conventional rupture. Moreover, the number of appeals before the Labour Court is very low.

But two risks remain. These devices could be used as substitutes for redundancies, the number of social plans is declining. Furthermore, this device could be used as a protocol for early retirement in disguise. In addition, the success of these devices could affect the unemployment insurance account.

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In recent days, the Southern Mediterranean flames. Tunisia faces a revolt spontaneous social and Algeria is experiencing food riots with soaring food prices. The price of sugar, flour and cereals have jumped from 20 to 30%. A kilo of sugar was worth 70 dinars there are few (72 cents), today bought 150 dinars (1.50 euro) when a driver earns about 800 dinars a day (8.40 euros).

These two movements take root in a soil of very high social inequalities, and despite an economic environment that is recovering from the crisis. Tunisia and Algeria are expected to grow by 3.8% in 2010, and respectively 4.8% and 4% in 2011, according to the International Monetary Fund. The country of Zine el-Abidine Ben Ali took advantage of his openness to the outside and the return of international trade.That of President Abdelaziz Bouteflika takes advantage of rising oil prices on which it depends very strongly.

Oil and unemployment

"That is the paradox: Algeria has a oil revenues but is experiencing food riots," denounces Assidon Zion, member of the board of Transparency International, an NGO fighting against corruption. Tunisia and Algeria suffer one another as a LTU. At first, it reached 13.3%, and many more among the young graduates, says the IMF in a report. In Algeria, the unemployment rate was 10%. But it should not be relied upon. "Hard to believe the numbers, the statistics are skewed by the leaders," said Mokhtar Lakehal, an economist at Sciences Po Paris.

Measures have yet been taken out of the crisis. The Algerian government officials increased by 30% in 2010.A firefighter earns around 14,175 dinars per month, or 148 euros (2008 figures from the International Labour Organization) paperless payday loans. It has established a five-year plan focuses on infrastructure development and employment with 286 billion dollars.

Financed by oil exports, "this represents 180% of gross domestic product (GDP), although some come from unspent funds from previous program," said Jesus Castillo, an economist at Natixis. Still, the Algerian economy is not diversified enough. She can not offer enough jobs for its ever growing number of youth (its population is still growing). Worse, the plan would most benefit foreign companies that employ few local.

Emigration blocked

Before the crisis, Tunisia and Algeria enjoyed two "valves". One is still there: the informal economy.The activity that escapes taxes represent between 40 and 60% of GDP. The second loophole, emigration, has instead disappeared. "In recent years, Europe has closed its border to young North African and Gulf countries have done the same for two or three years," says Mokhtar Lakehal. In addition, "there is a State capture by a family in Tunisia, and by a minority close to the government in Algeria that divert resources to their gains," describes Assidon Zion.

The rebellions of recent days they gave change? "The outcry from the Tunisian lawyers means that the model Ben Ali, who promoted a minimum middle class is in the process to fail," Zion Assidon trusts. Mokhtar Lakehal is more pessimistic: "They are epiphenomena. Protesters will be beaten, arrested the leaders and people in a month will return to their occupations.But the pot continue to boil. "

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"The French have a complex relationship with money. They are suspicious vis-à-vis their banker or their insurer, "says Philippe Jourdan, CNRS researcher and founder of the Panel Study on the Web. It has published a study on "loyalty" of customers in banking and insurance. Only 37% of respondents (1,500 Internet users aged 25 and older) say they "have really wanted to stay loyal to their bank." A low level, equivalent to their attachment to their baker (37%).

They claim even less satisfied with their insurer (only 30% say they want to remain faithful). All the French did not, however, the same relationship with their banker or insurer. Older people are more faithful.In contrast, young and professional categories above, yet coveted by financiers are willing to be more fickle.

"The pillars of the current loyalty is fragile," says the study. "Customers remain loyal to their institution for convenience and habit, rather than by real commitment." At the top reasons for dissatisfaction, frequent change of counsel payday loans for bad credit. More than half of bank customers (62%) would like to retain longer the same adviser (54% in insurance). More worrying for the banks, only 37% of respondents are "very satisfied" with advice from their advisors. The latter are increasingly perceived as commercial, not always listening. Customers also regret not being rewarded for their loyalty, and being treated worse than new customers.Other areas of weakness for banks, pricing and billing errors.

Towards greater mobility

"The French are less critical vis-à-vis insurers, except on the rate at which they are very sensitive, especially now, when premiums are rising," suggests Philip Jourdan. Despite their dissatisfaction declared, the French changed little bank or insurer. But things could change with the rise of the Internet that can more easily compare the tariffs, but also to manage their bank accounts. "When the barriers that impede mobility are gone, customers are more likely to create competition," concludes Philippe Jourdan.

The U.S. stock market posted a small gain on Wednesday. The Dow Jones gained 0.22% at 11,719 points, the Nasdaq climbed 0.54% to 2696 points and the S & P advance of 0.34% to 1275 points. The indices were displayed yet in the red in early trade but the trend was reversed in favor of two macroeconomic statistics found reassuring:

– Operators have learned earlier this afternoon, good numbers of the ADP survey on employment in the United States. Job creation in the private sector were almost three times more than expected in December. In total, 297,000 jobs have been created over this period, while the consensus expected 100,000.This increase is greatest over a month since 2001.This statistics were scrutinized by investors because they often foreshadow those of the monthly report on employment expected Friday, a major indicator to assess the strength of U.S. recovery.

– Moreover, the ISM index on the service sector stood at 57.1 last month, a highest since May 2006, while economists and analysts surveyed on average had forecast an index to 55.6. This is much more representative of the U.S. economy as the ISM manufacturing sector released Monday.

Retail sales climb

Also on the macroeconomic front, according to Retail Metrics, retail sales in the U.S., rose 3.4% in December over a year. This is their strongest growth since 2006 and the best month of the year for U.S. distribution.The snow storms that have occasionally affected sales, purchases by households after Christmas, were very dynamic.

More good news: the real estate office would have improved slightly last year. For the first time in 3 years, rental prices have increased slightly in the fourth quarter 2010 vacancy rate remains high (17.6%, the highest since 1993) and the prices are low (they were $ 25 average in mid-2008). But the stabilization or even slight recovery, employment benefits to this area.

Operators leave a little later the pessimistic talk of the Fed.In reporting its last meeting, it considers that the European crisis is one of threats to the recovery in the United States.

Facebook and Goldman Sachs in the crosshairs of the SEC

The side of values, Constable U.S. stock, the SEC decided to look at investment bank Goldman Sachs (-0.17% to 172.79 dollars) in Facebook, to ensure that it not circumvent the rules governing non-listed companies, says the Wall Street Journal. Under the current rules, dating from the '60s, when a private company reaches a threshold of 500 shareholders, it becomes compelled to disclose certain financial information.Many commentators saw in the investment of 500 million made by Goldman Sachs with the Russian group mail.ru a way for the community site to gain access to customers of the prestigious U.S. bank, while remaining below this threshold, and freeing itself from any limitations of transparency. Depending on the outcome of its investigation, the SEC could recast the regulations in force, according to the Wall Street Journal.For the regulator, the newspaper said, the challenge is to find a compromise between protecting investors and unlisted companies will have access to sources of capital.

Also note, the year 2010 has been very positive for automakers and marks the return of the Big Three U.S. automakers General Motors (-0.34% to 34.77 dollars), Ford (-0.75% at 17, $ 25) and Chrysler, according to figures released yesterday after the close of Wall Street. A total of 11.6 million vehicles were sold in the U.S. last year, up 11% year on year, according to provisional figures from Autodata. Manufacturers should respond to these figures.

Always on the side of values, also after market, the manufacturer of fertilizers Mosaic (2.02% to 76.52 dollars) has published its results for the second fiscal quarter.The group's profits climbed to over $ 1 billion, well beyond analysts' expectations. Turnover was up 59% to $ 2.7 billion is also above expectations.

In addition, the American designer of components for mobile phones Qualcomm (0.65% to 51.30 U.S. dollars) Wednesday announced the acquisition of its partner Atheros Communications (1.44% to 44.63 dollars), a specialist WiFi and Bluetooth connectivity, based on an enterprise value of $ 3.1 billion.

Annual gathering of consumer electronics in Las Vegas

The world of consumer electronics is preparing the opening Thursday of its big annual event in Las Vegas. This market is in full recovery is expected to reach almost one trillion dollars this year.Moreover, the Chinese computer manufacturer Lenovo introduced on Tuesday in Las Vegas a new hybrid version of its IdeaPad computer, a laptop running on Microsoft Windows 7 (-0.70% to 27.89 dollars) whose detachable screen can turn into tablet Android (Google (-0.05% to 601.83 dollars). In the same sector, the U.S. Court of Appeals reinstated a verdict quashed in September who thought the software giant Microsoft guilty of patent infringement against rival Uniloc, but has not confirmed a significant financial penalty of $ 388 million.

In Europe a heavy presumption weighs manipulation on Google.This is evident first of questionnaires sent to European players of the Web by the European Commission as part of its antitrust investigation on U.S. Internet group.

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Good news on the economic front: the number of social plans in France decreases. After peaking in March 2009, the number of backup plans for employment, the official name for the social, has fallen to its level prior to the crisis in France.

The number of social plans announced by companies has shrunk by 53% on a year over the last three months, according to Ministry of Labour published by Les Echos. On the quarter, 230 were committed social plans. November 2010 gives an idea of the extent of reduction of plans: 85 procedures were launched during this month, against 140 a year ago, in November 2009. Better: in October, only 65 backup plans were identified, the figure is the lowest in nearly a decade for the month of October.

Several factors explain this trend. Starting with an upturn.The improved outlook, even thin, "encourage companies not to take drastic action and wait to have all the resources the day when the recovery takes hold," says the Million Voices Thierry, director of studies at Altares .

Expansion breaks conventional

Companies are nonetheless keen to reduce their costs, and will gladly show efficient. They therefore seek alternative ways to restructure. Social plans represent an immediate cost for a company and are not without risks of social, legal and in terms of image.

Thus, companies are more on voluntary severance schemes.Breaks conventional contract are also booming: more than 500,000 applications have been recorded since the inception of the procedure in 2008.

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Storm over the empire Wendel. According to the Journal du Dimanche, the National Audit tax situations (DNVSF) sent on December 24 last an additional assessment to 14 group managers, who in 2007 received large sums in order to interest the results Company. During the action Wendel May 3, 2007, 324 million euros in total were distributed in shares to the persons concerned, through a complex system involving several civil societies. The taxman believes today that this is an "abuse of law", a concept that applies to a legal assembly itself, but established for the sole purpose of circumventing the tax. He believes that the amounts distributed by Wendel should have been in the form of wages, and therefore claims "about 75% of the sums at stake in 2007," to individual recipients.

Jean-Bernard Lafonta, chief executive of Wendel, and primary beneficiary of these funds is called to donate 100 million euros of the 156 million received. Second, Ernest-Antoine Seilliere, president of the supervisory board and former president of MEDEF, has received a tax notice for an amount of around EUR 50 million, or 75% of 60 million was achieved guaranteed approval cash advance loans. " "Asked about his laptop, the former boss of the MEDEF has preferred hang up abruptly," says the JDD. Another beneficiary of the financial package, Christine Dutreil, wife of former minister Renaud Dutreil SMEs, will also donate 6 million euros over 8 million paid.

Also affected by this tax adjustment, the legal director of Wendel, Arnaud Descleves already in litigation against his employer, considers it to Wendel and not its employees, to defray the amounts requested."Employees are not responsible for the montage at the time, in order, they said, give them a profit …. We seized the commercial court for Wendel its responsibilities, "his lawyer tells the JDD, Pierre Versini Campinchi. The newspaper said other executives would consider similar action.