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After the low-fare success (Dacia Logan), the self-proclaimed "cheapest car in the world" (the Tata Nano), here is the ultra-low-cost Avtovaz. The Russian group, 25% owned by Renault, will launch in late 2011 a new model, the Granta. It is primarily for Avtovaz to appoint a successor to its ancient Lada Classic, which dates from 1966. Replica of the Fiat 124, the Lada is still the second best selling car in Russia, with its sole asset prices: 170,000 rubles (4,300 euros).

Avtovaz does not leave this market segment to competition from China or India. Granta is sold 220,000 rubles (5,600 euros). A price that is far below that of a Logan entry-level, hence the idea of the ultra-low-cost.

The rest is a matter of industrial process and sharing platform, the concept dear to car manufacturers and enabling them to lower their production costs.The Granta benefit from the platform of the Kalina, a model launched in 2004 which has not met with great commercial success. "Renault has helped teams Avtovaz to improve the quality of its models," said a spokesman for the French group. In addition, Avtovaz build its new city (of a size comparable to a Twingo) in its factory in Togliatti, 1,000 kilometers from Moscow, where labor costs remain low.

Tomorrow, the export?

For the Russian manufacturer, it is not missing the boat. This will be the first model launched by the "new" Avtovaz. However, the group really need to burnish his image and give it a quick facelift.

The Granta is primarily intended for the Russian market. But, like other Lada, it may be exported. "Renault will use this model was not defined e ', do you know in French. Everything is possible.Includes entry into the Western market for a new model even cheaper than Logan (7,600 euros in entry-level, excluding promotions).

Through Avtovaz, Renault approaching the threshold of new symbolic price of 5,000 euros which had underpinned the launch of the Logan, they are not reached by the group. For now, only few Chinese manufacturers and Avtovaz succeeded. In other words, there is no new car, responding to Western standards to 5.000 euros. The Granta could come fill this gap.

Other models of the group will soon be built at the factory in Togliatti. Beginning in 2012, adapted versions of Logan Lada station wagon and van will be manufactured, followed by Nissan, Renault and then two. A location of production that overcomes the prohibitive tariffs imposed by the Russian government.

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Life insurance quotes are the major means of calculating whether the rate of return is going to be worth the initial outlay.

The rebound from last night seem to be prolonged unless the unemployment figures contradict. Around noon, the index futures Standard & Poor's 500 and Nasdaq 100 advanced 0.27% to 1057.40 points and 0.27% at 1794.5 points. The Dow Jones itself could open up 0.22% at 10,069 points.

Yesterday, Wall Street's rebound has been sketched primarily due to buying cheap and the results of Toll Brothers and American Eagle Outfitters, welcome. The Dow Jones climbed 0.20% to finally 10 060 points, while the Nasdaq took up 0.84% to 2142 points.

The U.S. Department of Commerce on Wednesday, new home sales in the U.S. for the month of July 2010 have yet to set seasonally adjusted rate of 276 thousand units, the lowest in history, against a consensus site close to 340 thousand.Orders for U.S. durable goods for the month of July 2010 have certainly increased 0.3%, but the consensus was expecting 2.5%.

Jobless claims Thursday, Friday and GDP

If new jobless claims expected today will likely affect the opening of Wall Street, prompting him to be careful, tomorrow, Friday, the indicator most crucial will be unveiled: the second estimate GDP growth in the second quarter.This risk, with a sharp drop early in the indices plunge into turmoil.

On the corporate side, Ford could respond to a current size: the two groups comes as U.S. automaker to announce, with the Japanese Mazda, an investment of 350 million dollars (273 million euros) via their joint venture AutoAlliance Thailand (AAT), for the equipment of a factory in Thailand pick-up of new generation.

Wal-Mart Stores, has asked the U.S. Supreme Court to stop a massive partnership action brought by female employees, court documents show Wednesday.

Novell Inc. will release its results after market. And Tiffany, in the night.

Droughts and fires will they bring Russia to its knees? The Russian government admitted on Tuesday that recent weather events will cost between 0.7 and 0.8 growth in the country. Without this unprecedented heat wave last half-century, the Russian economy would have increased from 4.4 to 4.7% in 2010, according to a first estimate unveiled by Economic Development Minister Andrei Klepach. The final cost of these disasters should be known in November.

"The extreme heat and smoke from fires have forced businesses to close their plants or reduce their production schedules," according to economists at HSBC payday advance lenders. "The productivity of those who have maintained their production has declined considerably." These climatic events were particularly affected the agricultural sector. Wheat production is expected to drop by and third.What make analysts more pessimistic than the government: they think the heat wave is expected to cost a point of growth.

Russia, however, had started the year well, with a growth rate of 2.9% in the first quarter and 5.2% in the second. "In the third quarter, the activity should be particularly weak and a scenario of stagnation can not be ruled out," HSBC economists said.

Remy Cointreau will he a toast to celebrate the growth of its sales in the first quarter of fiscal year 2010-2011? From April to June 2010, the total turnover amounted in effect to 170.9 million euros, up 19.3% excluding currency effects (23.6% as reported) from Figures released on Thursday on the group's website. Off partner brands, sales totaled 149.7 million euros, increasing by 21.3% excluding currency effects (25.7% as reported).

The group attributes this success to "the effectiveness of its new distribution system [established on 1 April 2009, note], the strength of its brands and the relevance of its marketing investments."

The cognac and champagne up sharply

Remy Cointreau is pleased that the sales growth for all regions except Japan.

The group of wines and spirits enjoy the exhilaration of the cognac sector advancing by 37.7% organic. Remy Cointreau said the "very positive dynamic in China and in Travel Retail" adding that "the United States and Europe are also growing."

The champagne also rebounded 20.7% after problems at the end of last year. The group said that in Japan and Australia, growth is adversely affected by high inventories.

However, the sector Liquors and Spirits trouble restarting. He recorded a slight increase of 0.4% as reported and a decline of 3.4% excluding currency effects.

"Staying the course"

Remy Cointreau said that "in a still uncertain economic environment," he "stays the course with its strategy of long-term value," focusing on "development of its leading brands."

The group said it had "successfully issued a bond of 205 million euros in June last and benefit from the improved level of the dollar against the euro.

The Cabinet will host today at the Elysee a guest: Wolfgang Schäuble, Minister of Finance and strongman of the government of Angela Merkel. Last survivor of the dinosaur era Kohl, Schäuble, 67, is both the most Francophile and most pro-European ministers in Germany. This man of iron is outspoken apostle of rigor in Germany but also in Europe.President Sarkozy and his government, which had inspired his brake mechanism to debt, lend him an ear.

This is the first time a German minister participates in a French Cabinet, a symbolic meeting to be held under the theme of "European economic governance," a topic that has divided President Nicolas Sarkozy and German Chancellor Angela Merkel.

To revive the Franco-German, Paris and Berlin had decided in early February to open the meetings of government ministers of both countries. In late March, Christine Lagarde, with whom he maintains a good relationship, had attended a cabinet meeting Merkel in Berlin. Schäuble was forced to postpone his visit to the French Council of Ministers, in May, for health reasons.

It tames the suffering

This practicing Protestant was never one to panic.Some in Europe have criticized him his reluctance to rush to the aid of Greece. Schäuble dream aloud of a federal Europe. He put one on the table the creation of a European Monetary Fund. A mechanism has been adopted approached in early May by the euro area but in his absence: he had been rushed to hospital in Brussels. A poorly healed wound was nailed to a hospital bed, where he led his ministry for several weeks cash advance loan. What has not failed to feed the rumors about his departure from government.

But it has long been tamed Schäuble suffering. Minister of Interior of Kohl, his life is turned upside down in 1990, when he fell under the bullets of a balance. An avid tennis, the ambitious politician finds himself in a wheelchair, paralyzed from the chest down.His wife suggested that he give up politics. It is at the head of his department after several weeks of convalescence. And now asserts that his passion for politics has helped to overcome the ordeal, which he calls "this shit". Gray eminence of Helmut Kohl, which was also the dolphin, it was he who negotiated the contract of German reunification with East Germany.

His ambitions were often thwarted. For example, Kohl's, for which he retains a deep respect, clung to power for 16 years, only disappearing never to its advantage. In the late 1990s, Schäuble flows in the case of the CDU slush funds: he accepted 100,000 DM jars of wine a sour arms dealer to finance the party. The case forced him to resign from the head of the Conservative Party and bar him permanently road to the Chancery. Then between Merkel track.Fearing that it will make him the shadow Chancellor he preferred another candidate for the Presidency of the Republic. Merkel, who sought a strong man to hold his government partners Liberals imposed the Ministry of Finance. He has gained the nickname "Sparminator.

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On this day a national holiday in France, the economic future clouded for the United States. Retail sales fell 0.5% in June after falling 1.1% in May, and import prices fell 1.3% last month. Some due to a 2.3% drop in auto sales, others because of falling oil prices and rising dollar. All these indicators disappointing in addition to reserves of crude continue to decline. Only bonen news: the budget deficit continues to decline. If Congress sees an encouraging sign, he is aware that the United States enjoy the benefits of its rescue plan and the increase in assets held by the Fed.

In these circumstances, the Fed seeks to be less optimistic about the United States.Within minutes of its monetary policy meeting in June released Wednesday, the Fed has lowered its forecast for growth in the U.S. this year. U.S. GDP is expected to be between 3% and 3.5%, while three months ago, it was a growth from 3.2% to 3.7%.

Consequently, the Fed anticipates a slower decline in unemployment this year. The unemployment rate should be between 9.2% and 9.5%, between 8.3% and 8.7% in 2011 (against 8.1% to 8.5% projected earlier) and between 7.1 % and 7.5% in 2012 (against 6.6% and 7.5%).

Fear of deflation

The deteriorating outlook led the U.S. central bank to consider further action on monetary policy to support the U.S. economy. Its leaders have already agreed a policy accommodative, ie a decline in interest rates was not necessary."The committee would need to consider whether further support could be appropriate if the outlook were to worsen significantly," we read in the minutes. He added: "A small number of participants cited a risk of deflation."

Anyway, it is clear that the maintenance of low levels of interest rates does not seem to be enough to revive the U.S. economy more vigorously. The meeting of the Monetary Policy Committee of 22 and 23 June had maintained the interest rate the Fed close to zero, in hopes of boosting up the credit and economic activity.

Wall Street plunges into the red

The markets have been quick to respond to these new expectations: having moved solidly in the green mid-session, the NYSE has quickly sunk into the red.Around 8:40 p.m., the Dow Jones lost 0.40% to 10,321 points and the S & P 500 retreated 0.46% to 1090 points, while Nasdaq was flat at 2,242 points.

The garden party at the Elysee was it canceled too late? The caterers will they be reimbursed? Taxpayers will pay the note they? After the announcement of the cancellation of approvals under the Ministries of Interior, Overseas, in the prefectures and sub-prefectures, these issues are on everyone's lips. Especially since the member Rene Dosière (related PS) spoke for the receipt of an invoice 313 618 2009 euros. The debate, then fed by Ségolène Royal in an interview with the Nouvel Observateur, however, is minimized by the main actors of the case.

"There was no cancellation in the legal sense. These are the tenders that have been canceled. Today, nobody can say 'I lost the case, because no one had been chosen "slice Lars Bernard, vice president of Synhorcat, a leading professional trade."So there is no impact because in this profession, we do not prepare anything in advance. A caterer is not Picard, irritated the union representative.

Same story on the side of the Elysee usual caterers. "We were still at the stage of tendering. We filed our application and we expect the answer. We have therefore incurred no expenses, "said Francois Raynier, owner of upscale catering Raynier Marchetti, who denies the passage strengthened its team of 150 people in anticipation of the Garden Party. "150 is our average size," says he.

"From homemade

The prefecture also announced that the cancellations last minute should incur any costs because the buffets are mostly prepared in-house. "We use the kitchen of the prefecture," says one in Rennes.In the Sarthe, everything is "homemade" due to "credit limit". The few jurisdictions involving caterers explain – as is the case in Mayenne – they were still "at the stage estimates.

In the Alpes-Maritimes, the services of the prefecture are in this case state spending "very minimal" to "a few hundred euros": "We're pooling with the city of Nice and the General Council of Alpes-Maritimes limit spending from outside caterers, "says a spokeswoman.

Flexibility

Even if there had been a contract between two parties, there is no fixed schedule for repayment in the profession, making negotiations on a case by case basis between the provider and client paydayloan. "It's the law of business but we always find common ground," says Bernard Bras.In case of cancellation, the situation remains manageable, "he assures," It is a profession without visibility. Sometimes some customers confirm the case only 3-4 days before the big day We are accustomed to this kind of situation. "

At the forefront of the controversy, the food critics temper this speech. According to them, traders are well advised not to claim compensation for the expected win lucrative contracts in the future. "It's flattering to prepare the buffet or the Elysee Matignon is a commercial asset, an honor, a good card," says Claude Lebey, editor and author of restaurant guides.

Rebound

The representative of Synhorcat still regrets the loss of activity represented by these cancellations. "We are talking thousands of hours of work.For the Elysee, the decision could also have been taken earlier this year when the budget is fixed ….

For the future, the profession remains optimistic. The idea of a snowball effect of cancellations is scanned. "On the corporate side, which represent nearly 80% of our business, we see a rather significant recovery from last year," says Lars Bernard. "These are not exceptional receptions for when the box is bad, do not 'do too much peter cap'. But when there is a quick turnaround, we must celebrate. This is happening today. " The other big market traders – that of individuals – is also on the mend: "over time, we notice that people continue to celebrate events," notes vice president of Synhorcat. The public sector, the smallest of openings, should be the one to be hit hard.

"End 2008-2009, business has plummeted because of last minute cancellations of contracts. In the worst of the crisis, some professionals have lost 40% activity, ensures Lars Bernard. 2010 is therefore a year of healing. Regarding cancellations, we are entitled to think that this will not be like that all year. "

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Gold continues to mix with peaks. The yellow metal is still beating his personal best on Monday morning, closing at over 1265 dollars an ounce on the spot market, improving the previous record of 1262.50 dollars entered Friday night.

In Asian trade, the precious metal climbed to 1,265.07 dollars per ounce. Unheard.

Gold price over the past ten years.

This is the game in the match. A confrontation that has now lasted fifteen years and which becomes, every World Cup, a bit tighter. What is at stake? Nothing less than the title of world's first supplier football, a market estimated at 8.4 billion euros.

Adidas, supplier of the Blues since 1972 and until the end of the year, has long dominated the head and shoulders in this market. It must be said that the three stripes accompanies some of the heavyweights of the circuit, between Germany, Argentina, or Spain, European champion in title. In South Africa, no less than 250 players will evolve with his shoes on his feet, including the Golden Ball in 2010, the Argentine Lionel Messi. Adidas is also and always a cornerstone partner of FIFA. As such it will still provide the official ball of the competition, Jabulani.A real goose that lays the golden eggs as 100 million replica of the official ball (Teamgeist) were sold during the last World Cup in Germany. The German brand thinks its still football star. With 12 selections in the portfolio, it remains the leading supplier of this World Cup as the number of teams and expects a turnover exceeding 1.3 billion euros in football in 2010. The number of Blue jerseys sold, it announced already 300,000 copies pay day loans.

Across the U.S. Nike did not hear it that way. With nine teams selected, including Brazil, but also England and Portugal, the group digs every year its wake. By adding the sales of its subsidiary Umbro, it also claims the No. 1 spot in world football, for a turnover of 1.9 billion dollars.Undoubtedly the American brand has scored points in football in recent years, including garnering the Blues jersey from 1 January 2011 and until 2014. The sum on the table to win has skyrocketed since we are talking of 320 million euros over four years! A number deemed unreasonable by the loser, the term of moody French, both in qualifying at the World Cup matches that preparedness, indeed raises question ….

Faced with these two giants going blow for blow, Puma heard his little music. Not without success and without excess. Equipment manufacturer of world champions title, Italy, a subsidiary of PPR focuses more than ever on African football.The team for this year four of the six teams involved in the African continent, South Africa, including Algeria (whose jerseys are selling like hotcakes, especially in France), Cameroon and Cote d'Ivoire.

Europe must move faster on the regulation of short sales. This is the opinion of Christine Lagarde, who yesterday called Brussels to "accelerate the work so we can have a coordinated position at European level". The Financial Services Commissioner, Michel Barnier, a device must submit by the fall, but Paris would like to see proposals from Brussels in July or later in September.

The idea being "that is not each other, here or there, tempted to keep up" with other countries that have already taken action on their part. "We will soon impose more stringent rules to harmonize the practices and tools for supervisors, install a coordinating framework for the supervisors, which is not the case today," says Michel Barnier to Le Figaro. The Commission is ready to offer this new framework "at the end of September," he insists.The French commissioner however said he will return to the supervisor of each country, given its assessment of the situation in its markets, to take measures of its choice.

This is precisely what comes to Germany. After banning short selling "naked" on the bonds in the euro area, on certain types of CDS – a contract of insurance against default risk – and the shares of ten financial institutions, Berlin went further yesterday by adopting a bill that extends the prohibition to all stocks.

Technical challenge

Short sales are sophisticated technical exchanges to sell shares they do not yet own, hoping to repurchase them at a lower price later, pocketing the difference. When they are "naked", the investor sells securities he does not even borrowed.The technique is challenged, because accused of encouraging speculation down. But the unilateral initiative of Berlin was cringe. Christine Lagarde has deplored the lack of coordinated European and ensured that Paris would not follow that path Berlin while recalling that France already bans on short selling certain financial stocks since 2008.

Berlin's position is criticized both in London and Paris. "There is certainly not a unanimous position" between the European regulators, "said Chairman of the Committee of European stock market regulators (CESR), Eddy Wymeersch. The framework will present Michel Barnier will solve only part of the problem. In terms of financial supervision, said it does in Brussels, "the Commission does not decide, she proposes.If the Council does not follow, it does not advance.

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