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At Kiriko, a Japanese restaurant in the ninth arrondissement of Paris, this chef is adamant since the disaster Fukushima, "attendance has dropped from 20 to 30%. A few yards away, in Yokohama, the conclusion is the same. Another borough, figures identical to Kyotori between Place de la Bourse and the Opera, "we lost a third of customers." Even if he refuses to disclose its revenue, the head of another Japanese restaurant says: "In recent days, a lot of customers are asking for certificates on the origin of the fish we use in our sushi. "

Aurelian, a young 26 year old Lille, is one of many suspicious. "Even in normal times, when you see the television reports on Asian restaurants, it makes you skeptical.Where do the fish, seaweed, sauces, rice …? We do not know anything. "

Few Japanese fish imported into France

The ignorance of consumers about the origin of the products they use, just that battle Alain Bailly, Director of Counter ocean, a company based in Rungis, providing no less than 300 sushi restaurants. "The lack of communication and transparency creates among consumers a deep sense of doubt and anxiety, when in reality, almost nothing is anywhere in Japan cash advance." What pushed this company to send a communique to all its customers, recalling that "the salmon comes from Norway, tuna in the Indian Ocean, the Mediterranean sea bream, mackerel and mullet from France …». A reminder that some restaurants have not hesitated to affix labels on their windows.In fact, among the products commonly used in Japanese cooking, only some wasabi and seaweed from the country of the rising sun. "And yet, one can easily find from the USA, China or Korea," says Alain Bailly.

When contacted, the European Commission recalled that on his side since the end of March, all food products from the area near Fukushima are subject to health checks reinforced from Japan, and are re-examined upon arrival on European territory. As the Ministry of Agriculture and Fisheries, services stressed that only 450 tons of marine products in Japan have been imported into France in 2010.

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The bad blood between the two parliamentary channels: LCP National Assembly and Senate Public. The case is of such magnitude that it is on the menu for breakfast Tuesday morning, between Bernard Accoyer, president of the National Assembly, and Gérard Larcher, the Senate. These two senior figures of the Republic should even decide to convene the Board of harmonization and Arbitration, a body set up last year and charged with settling disputes between the two chains. This will be a first.This council brings together the presidents of both chambers, the two chairpersons of committees of Communications, Catherine Vautrin, Catherine Tasca, the CEOs of the two chains and six parliamentary deputies and six senators.

Why such a show of force? The spark that ignited the powder is the decision of the Senate to pass a public partnership with the AFP for its political program "Proofs by three," by Michel Grossiord and broadcast on Wednesday at 18 hours. This new partnership has angered Gerard Leclerc, CEO of LCP YEAR. For the AFP since 2006 is already associated with the issuance policy Questions info, "presented by Frederick Haziza on LCP YEAR. "Matters of info is also posted on Wednesday, but at 19 h 30. Gerard Leclerc Gilles Leclerc criticizes his Senate counterpart Target, taking the same partner for a political broadcast aired the same day.A veritable casus belli.

Yet both Leclerc, Gérard and Gilles, both appointed in 2009, know, talk and appreciate. A big change from the era Jean-Pierre Elkabbach (Public Sénat) and Michel Richard (LCP AN) who ignored each other superbly and cordially hated. But even for two people of good will, the daily management is complicated and the disagreements on slots multiply. Because both channels share the same channel TNT in 2005. Their schedules are completely interwoven with a dozen flip from one channel to another day. Consequently, viewers become confused.

Merger of two chains

In each conflict, the substantive issue resurfaces. Should we merge the two channels? A question that arises from the creation of two parliamentary channels in 1999.But today Accoyer insists and says publicly that he regrets not having succeeded in 2007 to persuade the Senate president at the time – Christian Poncelet – to conduct a merger.

It must be said that the two chains are also jealous of their independence are the two Houses of Parliament.

However, they each have a tiny annual budget: EUR 16.1 million for Public Sénat and 15.9 million for LCP NA, directly from funds of the two assemblies. Advertising is prohibited on both channels. They define themselves as both political and news channels following an editorial line very close. Finally, they each claim a cumulative audience of twenty million viewers per month.Shake the specter of the merger will perhaps bring a semblance of harmony.

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Unions are rather relieved. After fears yesterday that their call for the strike falls flat, following the announcement last minute by the management to reopen salary negotiations, they welcomed a widely followed mobilization this Saturday. Employees hypermarket distribution group were in fact called by four unions to strike on Saturday to protest against including salary increases for 2011, considered insufficient. The appeal was launched in late March by the FGTA-FP, the majority union at Carrefour (with more than 45% representation), and supported by the CGT, CFDT and CGC.

In total, employees of French retail group came to mass protest around the shops in this traditional day of great crowds in hypermarkets.According to union estimates, the movement is widely followed (50 to 85% of striking workers) in 130 of 203 hypermarkets in the group. Over thirty sites are completely blocked, preventing access of employees supermarkets. Even when they are not completely blocked, the strike rate range from 30% to 85% as estimated by Dejan Terglav, general secretary of the FO-FGTA reported by AFP. "The regions are the most mobilized the North, Britain and the Centre," said trade unionist. When contacted, the management of Carrefour has not confirmed those numbers, always carrying an inventory of mobilization, and ensuring that all supermarkets were open.

Union representatives yesterday morning anticipating a high rate of mobilization of employees. A rare occurrence in a group unaccustomed to large-scale social movements."Especially since the announcement of the reopening of Carrefour wage negotiations Wednesday could deter some people from coming forward. But reopening negotiations, it does not mean to succeed, "insists Dejan Terglav.

"It's a movement that looks pretty memorable," confirmed Frank Gaulin, Steward central CGT. Jean-Claude Mailly, secretary general of the Workers' Force (FOR), came to support the movement at the site of Le Mans, on strike for 80%. "People want a redistribution within companies.When they are unwilling to do that, there is a strike, "said union leader, also claims that" a device to make compulsory the transport allowance in all enterprises. "

Insufficient wage increase

While management offers its employees a 1% increase in wages to March 1 and another 1% increase on 1 October, union officials estimate that these proposals do not cover inflation announced by 2% payday loan online. "I do not really represents only 1% over the year," says a leaflet distributed by the FGTA-FO, which requests that the increases are decided once a year. The promise of recovery to 10% (against 7% previously) discounts on purchases of stores, and the announcement of the reopening of negotiations next Wednesday, will not suffice to bring back the union leaders on their decision.

Indeed, beyond wages, discomfort is increasingly strong-side conditions of use and new methods of work since arriving at the head of the group of Swedish Lars Olofsson, in January 2009. In total, FGTA-FO amounted to 10,000 the number of jobs cut since 5 years, and denounced a "new business model based on night work generalized ultra simplified workflow and increased employee stress .

The union also stipulates that future negotiations with management will not only wages and, even in case of high wage increase, it will not bend on the claims concerning the improvement of working conditions.

Opposition to the plans of division

While President Nicolas Sarkozy on Thursday expressed its willingness to link salaries to dividends, the unions could ask for more support for their speeches. For the third and final major demand, workers are opposed to the division by trading in the subsidiary Dia hard discount and the 25% of the land Carrefour Property. According to unions, these purely financial transactions would bring six billion euros to the two main shareholders, Bernard Arnault and Colony Capital (14% stake and 20% of voting rights between them).

In the words of Dejan Terglav in Les Echos reported on Friday, the organization also wants the Mutual Fund Business (CIPF) 'vote against the division (at the next general meeting of June 21 ed.)CIPF owns approximately 1.33% of the shares but the double voting rights "said the union leader. Bringing to nearly 4% the number of shareholders opposed the project, with the fund Knight Vinke (more than 1% of capital). But for now insufficient to meet a third of votes needed to derail the project.

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Just unveiled the proposal to regulate the PS rents raised an outcry among real estate professionals. First, some believe that rental inflation is not a national problem. "Today, with the exception of the Paris area and some very large cities, rents are down. This is the case, for example, in Clermont-Ferrand, Saint-Etienne and Nantes, slides Jean Perrin, president of the UNPI (National Union of Property Owners) 4500 which brings together property managers and realtors.

"For investors who benefit from Scellier, rents are already capped, argues Guy Nafilyan, CEO of Kaufman & Broad France. In Paris, the square meter is rented more than 21 euros or 35 euros against 34 on the open market. "

As to specificity Paris, Jean Perrin was surprised that the Socialists do not know all the aspects."Each year, the state issued a decree blocking the rents in Paris, says he. But it is not respected. The tenants are so happy to find a home, none complains to justice. "

Above all, most real estate experts believe that rent control will not serve the interests of tenants in the medium term. "The danger is to lead to a shortage of rental properties with the key to a new higher price, said Laurent Vimont, general manager of the network of estate agents Century 21. Should this measure be implemented, those who buy an apartment for rent prefer to sell it online payday loans. As for potential investors who are reluctant, they would turn away from real estate. "

A bad precedent

In fact, many are convinced that this proposal is a false good idea."If the rent freeze was the right solution, we have established long time," said Bernard Cadeau, president of the network of estate agents Orpi. "The 1948 law that blocked the rents did not stop their surge," said Francis Bertière, CEO of Bouygues Immobilier. Others are not convinced that such a policy would be a plus for the national economy.

"If the state was embarking on such an adventure, it would be to restore purchasing power to the French, argues Serge Ivars, President of the USA (Union of Real Estate). However, lowering the rating of the tenants, it would lead to taking money to owners who are often small savers. "

In fact, to avoid an escalation of rents, it would be better to thoroughly review the policy of building."As France has not quite built for forty years, there is a housing deficit estimated at 1.2 million, explains Bernard Cadeau. For the reverse, it would build 500,000 houses per year. However, it does not exceed 300,000, which exacerbates the hole. "And to reverse the trend, it will take more than a miracle solution.

Endemol wins. The media company had attacked ALJ Productions, the company Alexia Laroche Joubert, who had produced Dilemma for channel W9. Endemol Dilemma accused of being an imitation of its formats star "Loft Story" and "Secret Story".

the Commercial Court of Paris has given him reason. March 11, he condemned ALJ productions to pay 1 million euros to Endemol and prohibited to use the format Dilemma in France and abroad under penalty of fine of 100,000 euros per infringement.

This conviction comes at a bad time. Asked the Buzz Media Orange Le Figaro, Alexia Laroche Joubert revealed that the second season Dilemma was negotiating with W9.This second season is very compromised.

Behind it, the story reveals the tension between Virginia Calmels, current CEO of Endemol France, Stephane Courbit, former boss of Endemol, which has mounted the production company Banijay, parent of ALJ productions.

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The French will not endure forever rising fuel prices, without changing their consumption habits. According to an Ifop poll published Sunday in the South West, 47% of respondents intend to reduce their consumption now if gasoline prices continue to climb.

Consequence of the soaring price of oil, those fuel have reached record highs last week. A liter of unleaded 95 has sold 1.50 euros on average in the hexagon, and a liter of diesel 1.54 euros, said earlier this week the Directorate General for Energy and Climate (DGEC ). Some stations even offered Paris a liter of unleaded fuel to 1.8 euro.

If consumers incorporate more and more since 2005, the idea of ​​an inexorable rise in fuel prices, 1.5 euro per liter of diesel remains for many a symbolic threshold beyond which they consume as much. Only 15% of respondents put this threshold at a level greater than 1.5 euro per liter, said the survey. Jean-Louis Schilansky, president of the French Union of Petroleum Industries (Ufip), makes the same observation. He recalled that in 2008 when fuel prices had also risen sharply, the consomamation was down 3% once this threshold is crossed guaranteed fast personal loans.

Not lower taxes

The decision to reduce its consumption or not, however, depends partly on the level of life. 40% of workers have thus been limited.In contrast, managers and professionals are more likely (14%) than average (11%) said they will not alter their habits, whatever the price of a liter. For many, the level of fuel consumption is also strongly constrained by the lifestyle.

Faced with soaring prices, the government this week but ruled out any cut in gasoline taxes could reduce the transport budget of the French. "You can take steps this guy at a time when we must take into public finances," ruled the Economy Minister Christine Lagarde. It was therefore confined to advise the French to buy the morning and follow rules of conduct to reduce, even at the margin, the price at the pump.

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Anne Lauvergeon is everywhere. The CEO of Areva, whose term expires June 30, has officially applied for membership in its own succession last December 6. But only a few days since she does publicly campaign – a term she hates the rest.

Tuesday Women's Day, which runs Areva decade has accelerated its cons-offensive with two television studios and a radio program. Areva, the world's nuclear group appears to have become "too serious for a woman, she amused herself Tuesday night on France 2 at a roundtable on the role of women in business.One way to suggest that there is some sexism in the attacks is the subject for months if not years.

Thursday, March 3, presentation of annual results of the group had already been an opportunity seized by Anne Lauvergeon of his arguments. With undeniable skill, ex-sherpa Mitterrand has made 2010 accounts Areva – marked by the first operating loss in its history – the bedrock of his ambition. According to Anne Lauvergeon, now that the efforts will pay. And Chair of the Board does not see why another would "reap the fruits" of his work.

Another argument: Areva is a highly strategic activity, for which experience is essential."This is not a working postmaster, anyway," she said March 3.

Better yet, his supporters on the frontline, as the president of the U.S. utility Duke Energy, which has cracked open a letter. "The French government has demonstrated long-term strategy when it invested in nuclear power in the 1970s and again when he appointed Anne Lauvergeon at the head of Areva, a decade ago," wrote Jim Rogers. The never-seen!

The best Spinetta

The assurance of Anne Lauvergeon, repeatedly given party against his will, in more than one surprise. In the camp – many – opponents of Anne Lauvergeon, it admits flabbergasted by the "cheek" of the "endgame." But a few days or weeks of the final decision, the situation has changed a bit. In this highly political issue – to be decided ultimately by the Elysee – the president of Areva has regained support.Or rather, opponents of weight moved away. Borloo First, during the reorganization in November: "He was our minister, but to believe that he flayed his mouth to utter the word 'nuclear'" notes-there in the entourage Areva.

Claude Gueant then: the former secretary general of the Elysee is now Minister of the Interior. Near Henri Proglio, president of EDF in cold – fleece – with Anne Lauvergeon, it will weigh less in this case. By contrast, François Fillon and Christine Lagarde, considered to support the president of Areva, are still in office.

Jean-Cyril Spinetta, the chairman of the supervisory board, is also a true ally. He never formally expressed on the subject, but he linked his fate with that of Anne Lauvergeon.At the general meeting of shareholders on 27 April, ten of the fifteen members of the supervisory board came to the end of their mandate. If Jean-Cyril Spinetta is renewed, it will bode well for Anne Lauvergeon.

As for the list of candidates submitted to the government would have the same Jean-Cyril Spinetta, it follows a path somewhat hypothetical. Arrested for one, updated in real time … Several other names, still the same, have been circulating for weeks. "Anyway, anyway, everything is played in the office of Nicolas Sarkozy, looking into his eyes," suggests one observer. In the meantime, Anne Lauvergeon trusts that the game remains open.

Henry Parker, winning ticket
The image of France has certainly been worsened by the fiasco of the Blues during the World Cup in South Africa. Not their wallets. For the fourth consecutive year since the retirement of Zinedine Zidane, Thierry Henry leads the ranking of the best paid French sportsmen revealed Saturday by The Mag Team, established in a very precise calculation (salaries, bonuses, advertising contracts …). Substitutions in Barcelona and then exiled to the United States, the former Arsenal player has accumulated 18.3 million euros in revenues for 2010. The withdrawal of premiums for France and the League of Champions (won by Barcelona in 2009) lost him 500,000 euros compared to 2009 (18.8 million).His lucrative contract with the New York Red Bulls (5.6 M) and its many advertising contracts (some of which ended in 2010) nevertheless allow him far enough to relegate her boyfriend Tony Parker, ranking second with a 1.1 million in 2010 (12.2 million). The renegotiation of his contract with the Spurs could allow it to monopolize the top spot next year.

21 of the 23 strikers Knysna in the Top 50, no woman
Sebastien Loeb (5th with 7.3 million) and NBA (Boris Diaw 6th, Joakim Noah 24e) are the only ones to compete with football king, expected to draw lesson from this study. Despite the disaffection of a portion of public opinion related to the fiasco of the World Cup, the number 1 sport in France outclasses all its rivals (salaries, television rights …), by placing 41 players among the 50 best French athletes paid cheap business cards.Note that 21 of the 23 strikers Knysna (missing Carrasso and Planus) appear in the Top 50 neglected by women for the second consecutive year (Aravane Rezai registration at 1 million euros, Sylvain Armand, the 50th, at 2.5 million euros).

Karabatic Lemaitre behind
Targeted among the leaders of the mutiny of South Africa, Franck Ribery climbs on the 3rd step of the podium (10.2 million) through an upgraded contract at Bayern. The absent in South Africa are doing very well as Karim Benzema (4th with 9.3 M) or Patrick Vieira and David Trezeguet (tied 8th) flowing end of a career peaceful and golden (6.5 M) . First representative of France Championship, Yoann Gourcuff is in 10th place (6.1 million), far enough from his runner Claude Makelele (20th with 4.1 million).And light years before Nikola Karabatic (650 000), Jean-Baptiste Grange (300 000), Christophe Lemaitre (260 000) and Jason Lamy-Chappuis (140 000), new heroes of French sport completely incognito. Another world.

The best-paid French sportsmen:
1. Thierry Henry (Football) 18.3 million
2. Tony Parker (basketball) 12.2 M
3. Franck Ribery (football) 10.2 M
4. Karim Benzema (football) 9.3 M
5. Sebastien Loeb (rally) 7.3 M
6. Boris Diaw (basketball) 7.2 M
7. Eric Abidal (football) 6.7 M
8. Patrick Vieira (football) 6.5 M
. David Trezeguet (football) 6.5 M
10. Yoann Gourcuff (football) 6.1 M

The economic and financial crisis has shown that market prices could deviate from the long-term fundamental value of assets. Speculation and economic fundamentals are not sufficient to explain certain behaviors described as irrational. It is the foundation of a theory, behavioral finance, developed in the 1970s by Daniel Kahneman and Amos Tversky, rewarded by a Nobel Prize in 2002. It is now taken by some societies as JRC AM that it is a specialty, with its capital CCR Growth Flex.

lefigaro.fr / jdf.com – Since the beginning of the year, investors prefer the values they abandoned last year. They would lack of discernment?

Roman Lahoste – Investors may lack discernment as shown by some excessive turnovers.And indeed this is true for sectors but also for geographical areas, as the CAC 40 index outperformed both the U.S. stock indices as the indices emerging.

L'horizon économique s'éclaircissant quelque peu, les investisseurs reviennent sur les valeurs ou les zones géographiques qui ont le moins bien performé l'an passé et qui paraissent donc bon marché. They do not care whether they are rational or not. Besides, if you look at previous cycles, they have always worked like that.

We are witnessing yet to rebound more than 20% for certain sectors such as banking shares.Did we go from one extreme to another?

That's true if you look at sectors or certain geographical areas but more broadly, I do not think you can talk about brutal downturn: global equities continue rising started out of the summer of 2010 as as fears subside.

Financial markets bull born in pessimism and doubt may be long upon the optimism and reach their climax in the euphoria. 2010 was a year of doubts and 2011 will be the return of optimism. But guarded optimism. We are not yet in a phase of euphoria. We go out to the penalty phase of doubt.

When is it we're in this phase of euphoria?

When investors do not perceive more risk and will not want to see positive signs.In other words, when financial markets are no longer concerned about the European and U business cards.S. debt or the rising inflation in emerging countries for example. But at this point, it will not necessarily leave the market as rising euphoria can last very long.

As the saying goes on Wall Street, he must stay invested in winning positions and cut their losing positions. Investors such as portfolio managers generally have the temptation to do the opposite. And that is their mistake. After realizing a profit, even if they can still hope to double their bet, they will tend to take profits. However, after a loss, rather than cut their losses they will tend to leave the risk and not sell. The investors then react as casino players who want to "remake".

How should investors do to prepare for this phase of euphoria?

Anticipate market reversals is a very difficult, unreliable and time consuming. Investors should instead be setting standards of conduct and maintain it, even if they miss some opportunities. Indeed, we believe it is better to forego a gain in the short term to avoid a larger loss in the long term.

From a technical standpoint, we recommend the establishment of "stop loss" (order placed by an investor to limit his losses in case of falling stock price, Ed) that serve as "safeguards "to compensate for the risk manager in the extreme phases of markets or the decision is often distorted. A phase of euphoria usually turns into a bubble.However, if one knows when it starts, you never know when it stops.

Should we fear the next bubble?

Since markets exist, there have always been bubbles and crashes. Each time, investors have not learned.Behavioral finance teaches us that all these risks are extreme benefit related to human psychology never changes as economic fundamentals./ P>

"Faced with losses, investors' attitudes changed dramatically": they are more likely to renew their commitment vis-à-vis an investment when it posted a loss

The first steps of Tekka on financial markets are definitely not easy. On 8 February, ten days after being officially launched its IPO process, management of dental implants specialist announced a fundraising well below 15-17250000 euros it initially wanted up, with only 11.25 million euros collected.

Set at 10.85 euros, the price per share was well below the price range announced in late January, from 13.15 to 15.15 euros. And for the first day of trading on Monday, far from unanimous among investors, the stock has collapsed. At noon, it fell by over 6.5% to 10.14 euros. A better, however, after some 11% of any decline in early trading.Despite an introductory price lower than expected, investors were therefore considered too high, the recovery group (43.25 million).

International growth slowed

After the operation, the company Rhône-Alpes has failed by almost 4 million goal down. A partial success forcing to "consider the establishment of a new timetable for international expansion, opening new branches being made more progressive," according to a statement.

For now, management does not give more details on the timing of this new calendar, but the international growth could take a year or two more than the three planned exercises.This uncertainty about the pace of development and thus on the horizon to arrive at the balance of society, is not likely to reassure the markets, in an already unfavorable to the confidence of the operators. Initially, Tekka wanted to open by 2013 six new branches abroad (United Kingdom, Greece, Italy, Canada, Egypt, Switzerland), in addition to the existing five (Spain, Germany, Turkey, Belgium, Morocco).

Financial markets still closed

This performance is disappointing but reflects the state of financial markets, especially little bit open and fond of corporate records had still not reached equilibrium. This is the case of Tekka. The company operates in a market enjoying strong growth, supported by favorable demographic trends, but had to invest heavily to develop its product lines and subsidiaries abroad.Result: If sales posted an average annual growth rate of 55% since 2001, annual losses in 2009/2010 totaled nearly 2 million (year ended 31 March), against 3.5 million a year earlier . Analysts said the group should not achieve its first profit until fiscal year 2012/2013.

Nevertheless, bourisèrement, the course should êtrer less volatile than small biotech companies with recent entry on Alternext (Carmat, Neovacs …). Like the "med-techs" Tekka has already approved and marketed products, which limits the impact of a possible failure on a product under development.

Also note that the listing venue chosen by the company does not promote its visibility, which inevitably limits the interest of investors.Certainly, trading on Alternext enables small and medium enterprises to acclimate smoothly with the requirements of the Exchange, but it offers them less well known, an element that is sometimes detrimental to the stock performance potential. One more factor that explains the poor performance of the track this morning.

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