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Response hardens at Bouygues Telecom. Since the arrival of Free market of mobile telephony, on January 10, the operator suffers. With packages available from 0 to 19.99 euros, the newcomer had already robbed some 134,000 Bouygues Telecom customers to March 1. To limit the damage, he had already announced, on January 13, lower rates of low-cost brand B & You via two packages one at 9.99 euros and the other 19.99 euros . An "Operation Seduction" which has clearly left its customers with marble.

Therefore, on Monday, Bouygues Telecom bounces back. According to Le Monde, it will offer price reductions on its range Eden, his main family of packages. A reduction that will go up to 40% for unlimited plans. "We have simplified our offer and have made more generous in offering our customers three unlimited voice plans from 39.90 euros per month with a terminal at competitive prices," said Frederic Ruciak, director of the consumer market, the daily. The package "Eden Classic" 2 hours of communication, it will be shaved by 10%. Bouygues Telecom has tempered, however, the "Free Indeed" by telling AFP that the price drop was a "rate adjustment from quarantine completed each year flexcheck cash advance."

Havoc on the stock market

The price war launched by Free has done well havoc on the mobile market. In fact, Bouygues Telecom expects a decline of 10% of its turnover in 2012 to 5.14 billion euros. In total, the group offers Niel have attracted over 1.5 million customers, estimated in early March of Stéphane Richard, CEO of France Telecom. Orange said 400,000 of its customers had left for Free Mobile. SFR, meanwhile, had lost 1% of its customers, or 200,000 people, in late February. Markets, investors are nervous. Vivendi, France Telecom and Bouygues suffer attacks of Iliad, the parent company of Free.

Result, Bouygues Telecom will certainly not be the only review it. Orange, who had drawn the first by announcing on 11 January prices down Sosh of his crimes, is expected to unveil a new fee schedule on April 6, with reductions on its range Origami, according to Le Monde.

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China's growth confirms its moderation. All indicators earlier this year indicate a general slowdown given the Chinese engine. This weekend, China Customs have announced for the February trade deficit of $ 31.5 billion. The most since 1989, according to figures from Bloomberg.

China's demand for foreign goods, raw materials whose economy is greedy, in particular, continued to grow, while the two main trade partners of Beijing, the European Union and the United States, slowing their orders in a difficult economic environment on both sides of the Atlantic. Exports then rose only 6.9% on the first two months of the year, year on year, against 13.4% in December, while imports grew by 7.7% at the same time, against 11 , 8% in December.

China's trade balance continues to play a little yo-yo earlier this year, with the effect of Chinese New Year festivities, which saw disengage almost all plants of the country. But last week, Chinese Commerce Minister Chen Deming announced already that keep foreign trade growth to 10% as in the past would ask "hard efforts".

Inflation sharply down

For it is all Chinese machine out of steam. By last weekend, the National Bureau of Statistics (NBS) showed that industrial production grew by 11.4% over January and February, its lowest level in two and a half years, and retail sales of 14.7 %.

Inflation has never been so low in twenty months. The index of consumer prices rose only 3.2% over one year against 5.4% for the whole of 2011. A figure lower than expected, but also below the target the government set itself for 2012 to 4%. This price moderation should breathe a sigh of relief to more than a senior party. She had become, last year, a major concern of the central government, fearing that it would nourish the social scolds. Reassured, the Chinese leaders could now ease off on their monetary policy and the exchange rate of the yuan.

But the pause early this year by China's growth is primarily seasonal, with the parenthesis Chinese New Year, the central government may wish to wait for confirmation of this curbing of its economy before flowing again . The specter of inflation, which can leave at any moment, has not deserted the minds of Beijing.

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General Motors and PSA Peugeot Citroen gradually reveal the content of their historic alliance, which is reminiscent of that between Renault and Japan's Nissan. If such comparisons seem indispensable for international car manufacturers, as the competition is tough, what about in terms of French jobs? "Better buy a Toyota Yaris produced in France, a Renault Dacia produced in Romania," Nicolas Sarkozy launched late January, as an example of the preference to "Made in France" to boost employment in France. Is it that simple? Not in the auto sector, meet Philippe Very and Emmanuel Metais *, professors at EDHEC Business School.

Emmanuel Metais Photo credits: © Hervé THOUROUDE-Mobile: 06 16 29 62 08 – Email: rvthouroude@yahoo.fr

Who will be the big loser of the arrival of Free Mobile? While Orange, Bouygues and Vivendi have just published their annual results and must submit his Free Thursday, the operators have their accounts.

In only six weeks, Free Mobile would have earned 1.5 million customers, according to estimates by Stéphane Richard, CEO of France Telecom. Free for now refuses to confirm.

But everyone sees what he lost. Orange said 400,000 of its customers had left for Free Mobile. Bouygues Telecom, a quarter of customers since January parties have joined Free Mobile or 134000. SFR did not elaborate, but analysts said it could provide around 300,000 customers Free Mobile.

500,000 net new subscription

It remains to evaluate clients lost by MVNOs, network operators without these, like Virgin Mobile, La Poste Mobile, Auchan Telecom, etc.. "Some of these operators have lost heavily at the start of Free Mobile. While some have reacted very quickly, it was to stop the bleeding. They have de facto acted as shock absorbers for Orange, SFR and Bouygues, "said one analyst.

MVNOs with models based on commitment and with a strong distribution network suffered the least. And NRJ Mobile, which has 90% of customer engagement in and benefits from the network of bank branches CM-CIC, has limited the damage. The operator that displays 1.1 million customers continued to win in January, before losing around 5,000 in February. "Ultimately, MVNOs may have lost between 200,000 and 300,000 customers," said one analyst.

Summing up all these figures, Free Mobile would have earned about a million customers in the market in its various competitors. The remaining 500,000 would net creation, that is to say, new subscriptions. Given its attractive price, consumers who already have a subscription and can be subscribed to the offer 2 euros (EUR 0 Free for subscribers) as a second subscription or subscription relief.

One thing is certain: the fierce competitive battle was triggered not leave room for all operators and everyone is fighting for its survival.

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Ikea home would be particularly well guarded! The furniture manufacturer has indeed established a spy system to know all of its employees but also customers, reports the Chained Duck. The French subsidiary of the Swedish group would have indeed been to monetize files of the National Police through International Private Enterprise Security specializes in security.

The satirical newspaper reproduced a series of explicit emails between the Director of Risk Management Ikea France, Jean-Francois Paris, and leaders of companies specializing in the collection of private data. One of these letters entitled "Subject: SITIC agreement" proves that the Swedish group has obtained sensitive information and theoretically reserved for the national police. In fact, the Stic is a file held by the police that gathers information on all individuals involved in an offense (the alleged perpetrators and victims) and stopped by the police. However, the CNIL has seriously challenged the credibility of this information. But no matter, the company did not hesitate to purchase this file in exchange for remuneration comfortable. On the issue of private company: "What you propose of more and better than 80 euros per consultation equivalent to those of ICST? I wish you a happy Christmas, "the risk manager at Ikea responded to a scathing" Sold! ".

Union representatives have claims

The exchange also demonstrates that Ikea France has regularly asked the security company very precise information on its employees or customers. Thus, Ikea has asked pharmacies Security: "No one in the store hires Paris Nord. Thank you for his locker. " Another application of the group: "His speech is anti-globalization and methods' old guard CGT" (covers his ears and keep repeating the same thing about his achievements) fast cash. Unionism? Profile is not too far from his lady. Various proselytizing? ATAC or other? Risk of eco-terrorist threat? ". The group also sought to take note of vehicle registration, driver's license, or the mobile operators. Customers were not spared by these unscrupulous practices of espionage. The group has investigated its customers including commercial litigation cases.

And employees have to defend well. Yassine Yakouti lawyers and Sofiane Hakiki will defend the interests of union representatives who have claims. The microphone of France info, including Yassin Yakouti emphasizes that it is "a unique case in France." The question is how society Sureté International was able to obtain the secret files of the police.

Only certainty, the information could harm the reputation of the furniture giant that boasts its management ethics. The model has however been shaken repeatedly. Latest event this summer employee of a store located in Virginia, United States, denounced a "dignified management of plantations." And after the publication in 2010 of a book on the shock group, which denounced the methods of management but also put under surveillande these employees, the new French case might still make waves.  

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Record! Go Sport last year recorded the largest net loss in its history. At 20 million, the third largest sportswear in France is worse than in 2008, when he posted 15.9 million euros loss. Since 2004, Go Sport, owned 72.9% by Rally, has accumulated losses of 73.6 million. The group experienced only a year in profits (12.9 million in 2007), with a gain of 23.1 million euros on the sale of the store premises.

Despite these cons-performance rehearsal, Rally is also a shareholder qu'endurant persevering. The company controlled by Jean-Charles Naouri, also main shareholder of Casino, has decided to guarantee a capital increase of EUR 30 million for group Go Sport, scheduled for the second quarter.

"It is a sign of confidence and support of our principal shareholder, welcomes François Neukirch, group managing director, who also holds the Courir. This will allow us to strengthen our financial structure and to give ourselves margin for maneuver? THEREFOR. "

2011 was a bad year for Go Sport, who missed both the January sales, the summer season and the winter, "because of unfavorable weather conditions," says François Neukirch. During these periods, sales of Go Sport France fell by 10%. Over the full year, those seasonal items (skis, anoraks, bathing suits?), Higher margin, plunged by more than 30% Same day payday loans.

Good start to the year 2012

"It is a paradoxical year, said François Neukirch, because we also had great commercial success. Footwear sales rose 5%, and those of non-seasonal fabrics of 3%. "Above all, the new store concepts and Go Sport Racing give satisfaction to its leaders. Part, the amount of which is kept secret, the 30 million euros raised on the stock market is also devoted to home improvement stores.

The group's leaders want to believe that the disappointments of last year are due only to the injustice of climate, and do not intend to change strategy. They stress that since January, sales of Go Sport show a double-digit growth, as if the weather was trying to redeem himself?

Asked about the prospects of return to equilibrium, François Neukirch stated that "the sooner the better." A view shared by patients shareholders. Darty, which owns 12.1% stake in the group, will announce its decision whether to participate in the capital increase on the occasion of the General Meeting of April 20.

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The benchmark rents (IRL) continues its momentum. Indexed to inflation, the index increased by 1.90% yoy in the third quarter 2011, according to INSEE, its largest increase since the first quarter of 2009.

Following the same curve as the price index, the benchmark rents had fallen sharply during the crisis, before recovering from the first quarter of 2010. However, according to figures released Wednesday by INSEE, inflation emerged up 2.2% year on year in September, despite a slowdown during the past month.

Consequence of this increase in the IRL, the owners can raise rents to their tenants under lease, 1.90% maximum per year. This ceiling is not to be confused with the increase that may require the owner at the end of the lease, and which itself is not subject to this limit.

Rising rents slows

They are also in the process of marking time, like the sale price. The latest observation Clamor, the rents charged to new tenants were up 0.9% over the first eight months of the year, against 1.4% a year earlier. In 34% of cities in France, this trend is even negative. This is for example the case in Paris (-0.1%), Bordeaux (-0.9%) or Toulouse (-0.4%).

In other cities of the Hexagon, however, rents remain strong on the upside. This is the case in Lyon (+1.2%), Nantes (+1.7%), Lille (1.9%) or Le Havre (+2%). For the full year, Clamor expects an average increase of 1.5% to 1.8% against 2.5% in 2010.

The Observatory notes wide disparities between the cities but also between the quality of rented accommodation.Owners who make improvements before entering into a new lease rent on average well 9.3% more than the previous occupant. However, when the property is rented without work, its rental value decreases by an average of 5.4%.

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Faced with the fear of a general banking collapse, the Franco-German couple is once again under the spotlight. And once again, things are not simple. Nicolas Sarkozy will be tomorrow in the German capital to "speed up" with Angela Merkel the implementation of the bailout of a Euro still full turbulence. The urgent need for the French president and German chancellor, is to flatten their differences on the use of the European Financial Stability Fund (EFSF) and reach a tentative agreement on the thorny issue of the recapitalization of banks.

Angela Merkel ruled Thursday that "there was a need to recapitalize, it would be reasonable to invest money" in terms of what could cost an emergency rescue industry.But she insists on the fact that the Fund will be used to bail out financial institutions on the condition that states can not themselves "to support the recapitalization of their banks' and it puts" endangered the euro area as a whole. "

In fact, Paris Berlin suspected of wanting to directly use the emergency fund to recapitalize banks weakened by the prospect of a debt reduction Greek. "The French have misunderstood the EFSF, decrypts it does in Berlin. Our position is that banks must first seek funding markets, and the side of the national public authorities. Only when there is no money available comes the European level. The EFSF is a tool for countries like Greece or Portugal.If a country like France – among the strongest financially of the euro area – wants to appeal, then this is the door open for all members of the area had ro dig into the fund. "

Berlin suspects Paris

An over-interpretation, says it does on the French side. "We have not yet begun to discuss that!" Do we wonder at the Elysee. At Bercy, it ensures not see fundamental differences with Berlin. "We agree with Germany, said the entourage of the Minister of Economy, Baroin, the fact that more capital into banks, including French," even if only to meet new international standards of Basel III in 2013.Whenever possible, the French banks also plan to comply with without recourse to the capital, let alone the U.S. – by separating certain activities if necessary, by distributing fewer profits to build equity .

But if there had to be re-capitalization, especially to reassure investors, "the sources must first be private," insists one at Bercy. "Ultimately, this should be to rely on injections of public capital." According to Paris, "a European coordination is essential to determine the amount of capital to meet the deadline by which this capital is to be achieved, and the tools for that. " It is on these criteria that France and Germany could agree this weekend.For its part, Brussels will make proposals for a coordinated recapitalization "in the coming days."

Moreover, given the deepening crisis, Angela Merkel has gradually accepted the idea of ​​economic governance of the European Union, defended by Nicolas Sarkozy. Expanding the powers of EFSF part of this process. However, the Chancellor – who imposed hard fought his troops to ratify the Bundestag building – is faced with a majority crossed by a strong current Eurosceptic.

Markets would also like to know more about the technical means to leverage the clout of EFSF. These contain the spread of the crisis heavyweight like Italy, Spain, and Portugal, while the levees are still weak.Should we go further and erase a more substantial part of the Greek debt? Should we consider that the Fund provides guarantees? The German finance minister, Wolfgang Schäuble, at least possible that Germany spends more money than EFSF the 211 billion passed by the Bundestag.

These tensions, it is now the standard mode of operation between Paris and Berlin. Pressure mounts on both sides of the Rhine, until a compromise emerges in a head-to-head at the highest level. Given their respective domestic political weakness or Merkel or Sarkozy can not afford a failure.

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Lefigaro.fr – messaging has it become a stress factor?

François Fatoux – Yes, definitely. The study we just completed, 38% of users receive over 100 emails per day. With the massive use of email, employees are saturated with information, most often to treat in an emergency. Because the immediacy of information has sometimes a perverse consequence: we are given less time for reflection. Faced with the constant flow, it is not uncommon that the employee feels outdated, it has the feeling of doing wrong. A situation even more difficult to live as e isolates, by discouraging physical conversations.

There are, as a result of addiction to e-mails, as measured by the researchers, maintains that stress.65% of users say they check email every hour, but actually do every five minutes! And smartphones, which allow employees to access their e-mails anywhere, increasing still potentially stressful situations. Have a blackberry was once a privilege to lead. It has become the door open to requests cascade.

Finally, the electronic mail increases, or harm their productivity?

It is very difficult to make a full and final conclusion. The mails are also many beneficial effects on work organization. In reality, everything depends on how a company and its employees use it. Very different practices coexist. All managers not only send such emails in 23 hours. But it is true that this is a very time consuming activity.More than half of the users spend more than two hours daily to manage their mailbox freecreditscore. The stress is relentless. When we know that an employee is 64 seconds to regain his train of thought after receiving an email, we have a sense of loss of concentration occasioned by email.

Another of his perverse priorities is to disrupt. The urgency tends to take the place of hierarchy. The employees work is undeniable, but spend more time on tasks accessories. Productivity is affected.

How to fight against these negative effects?

It is important for companies to seize this issue and are considering the use it makes their mesagerie mail. Should we encourage the use of mails to professionals outside the office? Should we require employees to respond instantly? The rules must be defined.

As for employees, a few simple rules can help minimize these adverse effects. Set the parameters so that every email that arrives is not reported, for example. Or take the time to reflect before answering. Or consider before each shipment: would it be more effective to pick up the phone? Is it necessary to put this or that person a copy? In terms of dependence on the tool, the answer seems to me, however, not individual but collective. Is to leaders to lead by example.

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Politicians and leaders of employers' organizations concerned regularly extinction risk of thousands of business for lack of buyers. Their fears are great, but it is impossible to quantify accurately the number of companies involved, lack of national statistics. "The market for the transfer of SMEs is opaque," said Gregory Bush, President of Epsilon Research, a consultancy specializing in financial analysis, acquisitions of unlisted companies in Europe.To better understand this market, Epsilon Research and National Society of mergers and acquisitions (CNCFA) created last year, a barometer of the transfer of SMEs in France.

The second edition of the barometer, which analyzes the SMEs employing between 20 and 249 employees and transactions with a value between 1 million and 50 million euros, the market potential is estimated at 4 130 SMEs on a total of 87,000. The SME market for family businesses in 2840 a total of 44,400. It consists of 710 transfers and 2,130 internal transmissions. For SMEs subsidiaries of large groups (42,670 businesses) in 1020 and 260 sales outlets LBO.

Rising prices

Direct consequence of the crisis, the market recorded transactions from the database professional has experienced sharp declines in 2008 and 2009.The value of transactions fell from 5 billion euros in 2007 to 2 instant personal loans guaranteed.1 billion in 2009. "The activity was slightly recovery in 2010 with a 7% increase in volume and 7.5% in value," says Gregory Buisson. The price of SMEs increased by 10% compared to 2009. However, the number of transactions, which had risen to 862 in 2007 was only 698 last year. LBO funds "were the only engine of the recovery," while industry groups have remained cautious in their procurement policy.

Purchasers of the euro area are the most active (35%) on the French market. They regained their 2003 level. Europeans outside the euro area, that is to say mainly the British, are increasing. North Americans are sharply down. They are at their lowest.Asians, who were increasingly active since 2002, are also down.

2011 will probably be a difficult year. The recovery in 2010 seems compromised. "According to preliminary figures, the market fell by 45% by volume in the first three quarters of 2011 compared to 2010," says Gregory Buisson. But the valuations of companies that are fit are high, thanks to the appetite of the funds.

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