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Wall Street on Monday addressed the sixth session of consecutive increase. Half an hour after opening, the Dow Jones gained 0.1% to 10,537 points while the Nasdaq gained 0.30% to 2292 points. The S & P gained 0.19% to 1128 points. Before the Christmas break, the U.S. places had registered a new annual record after the 14 December. The meeting on Monday also looks into the green even if the volume of trade should be still very low due to leave later this year.

Neither statistics and results are expected during this session.However, markets will follow tomorrow, Tuesday the S & P / Case Shiller index of house prices, the index of investor confidence in State Street and the index of consumer confidence from the Conference Board in December.

The airline industry lags behind

Fannie Mae (20%) and Freddie Mac (23%) bound in exchange for information following the U.S. press that the U.S. Treasury agreed to provide two groups of funds as necessary within three years.

The Amazon is under 1.91% to 141.11 dollars. The group announced that its digital book reader Kindle article had become the most offered in its history.It was first sold more books than books, digital paper on Christmas Day.

The airline industry should also move following the tightening of security measures imposed by Washington after the assassination attempt Friday during a flight from Northwest Airlines (0.35%). Continental Airlines lost 1.45%.

Delta Airlines fell by 2.72% and American Airlines lost 1.84% in response to rumors that the Japanese public funds Turnaround Enterprise Initiative Corporation of Japan (ETIC) seek to place Japan Airlines (JAL) in bankruptcy as part of restructuring the airline.A news that could complicate ongoing discussions with the two American companies.

Alexander Ananenkov, vice chairman of Russian gas giant Gazprom said Monday that his group expected to conclude in 2010 an agreement with U.S. energy company Exxon (+0.28%) on the supply of gas from the Sakhalin – 1.

Finally, the Italian Ferrero is still considering a bid for Britain's Cadbury after the latter rejected the proposal of Kraft Foods (+0.22%)

"Traditionally, December 24, we make our biggest day of the year prevent Yannick Branchereau, director of Lavinia, a spacious wine boulevard de la Madeleine in Paris. To cope, we have doubled our team, recruited additional sommeliers. "

All the winemakers of France and Navarre are on a war footing for the wake. Yves Legrand, famous cellar in Issy-les-Moulineaux, concurs: "I am more accustomed to December 24 that every night is just the same thing: I see the land Customers who panicked dinner and I am sure. And because I assure them back! The 24 and December 31, I have ten times more, that's all! "

If wine lovers the most cautious have stored, sometimes for quite long, the bottles they will go out these great opportunities, many cicadas take it at the last moment.If it sometimes improvidence, lack of proper storage conditions and insecurity of cellars, often visited just before Christmas, there are many. Whether in the Paris region or province, the winemakers are on the frontline.

With the rise of supermarkets over the past thirty years, winemakers have suffered greatly and they now represent less than 10% market share. 15,000 in 1960, it shrank to just over 2,000 at the dawn of the twenty-first century. But for a year or two, they take up, and we can not count the number of youth going, with varying success. The rules of commerce still exert their rights, especially in this period and, provided that the site is badly chosen, failure is guaranteed.Christmas and new years are their last hope of salvation.

The supermarket has also prepared the end of the year in crowded to overflowing their shelves. Even the hard discount it is set as Lidl, which launched its "Operation Holiday Wines". But unlike wine fairs, which saw an orgy of initiatives, the council is still rare in radius: no waiters, no tastings. Before the avalanche of labels and bottles crammed with hundreds, buyers are still too disoriented, especially as the indications are rare. Nothing has changed.

Different strategies

Despite all their imagination, websites selling wines fail to respond to last minute purchases, as they stumble on logistics, classic puzzle game, but crippling, year-end.Faced with congested routes and congestion, it is almost impossible to have delivered his bottles at the last moment, even a box of wine weighs his weight against a high-tech product, and that flights are frequent.

In alliance with traditional stores, the Internet, however, its breakthrough in an original way, as in Lavinia: "Customers make their choices on the Internet and they place their orders. They come later to retrieve their cards at the store without a tail.In addition, to thank them, we give them gift of an apron. "This system was successfully tested in several stores, as in Decathlon, for example, is particularly suited to wine.

Whether by ordering via the Internet or going to see directly, the passage through the cellar, with the direct purchase from producers in production region, is the best way to square the purchase last minute. The winemakers do not all have the same strategy: Between the cellar Luxury downtown, the proximity to the narrow range, the young neo-wine merchant who has just moved or old wine merchant specializing in the sale of bulk wine, the choice is wide. Enough to embark on a program of exploration of the new year.

The suspense was lifted on the eve of a meeting of oil cartel in Luanda. Abdallah el-Badri, secretary general of the organization, said Monday the consensus between the different member countries. An increase in OPEC production "is not in the radar" for next year, he also said, saying the current price levels were "very comfortable".

"Stocks (…) are a little high," then said Abdullah el-Badri, adding that the cartel, which is not less than 40% of world production, was to "bring them back to reasonable levels."

It has, finally, stressed the importance of meeting production quotas imposed on member countries. In late 2008, OPEC had agreed to remove the oil market 4.2 million barrels per day (bpd) to stem the collapse in oil prices which had touched $ 30 a barrel.In November, the 11 members bound by quotas (excluding Iraq) pumped 1.6 million bpd more than its official ceiling, according to the International Atomic Energy.

This is a case that could sink a lot of ink. In November 2007, Citigroup and the fund Abu Dhabi Investment Authority had signed an agreement stating that the obligations acquired by Citigroup fund would be converted into common shares at prices between 31.83 dollars and 37.24 dollars. And, for a total of 7.5 billion common shares at specified times, in 2010 and 2011. At the time, the action Citigroup worth $ 30. But he found the meantime, she collapsed, falling to 3.57 dollars. For funds, it is not an option to repurchase the securities Citigroup eight times their price. ADIA has decided to bring charges against Citigroup for "fraudulent misrepresentation". It simply requires the cancellation of the agreement or the payment of four billion dollars in damages.For its part, the U.S. banking group said in a statement that "these allegations are absolutely baseless and intends to defend against it vigorously."

Third consecutive decline of Citigroup

Yet, according to Richard Bove, an analyst at Rochdale Securities, "there is only a simple argument, which should lead to an agreement. It is in the interest of Citigroup to pay the $ 4 billion. And this, especially since it has 250 billion dollars in cash. For now, it is neither more nor less than a language of the deaf between ADIA, which considers itself cheated and wants to recover his money, and Citigroup, by repaying the funds would cause a precedent that would encourage other investors to be reimbursed. Stay tuned … Shortly before the close, the title recorded its third consecutive decline for the week (-2.53%).Monday and Tuesday, the stock has lost respectively 6.33% and 3.78%.

Become a registered "lifestyle" is the ambition of leaders Lacoste for years to come. To do this they have developed the part of accessories in the total turnover. Therefore, the parent company, S. A. Lacoste, who does nothing but manage the image of the brand, decided to resume late 2010 the license granted to the leather Samsonite American for eight years to tell his historical partner, the French industrial Devanlay.

Devanlay, 60% of sales by Lacoste, through the clothing of crocodile license. Since the beginning, these two companies through interlocking shareholdings (Devanlay has 35% of Lacoste and Lacoste 10% stake in Devanlay) work hand in hand.Their goal is to increase the share of leather goods from 4% to 8% of total sales within five years.

"While we have almost 4 000 references per year just in the textile, when we ask a client to appoint a product is always the same means we have work," says Jose – Luis Duran, CEO of Devanlay, where he arrived six months ago, after having been boss of Carrefour. Polo, founded in 1933, sold over 13 million copies a year worldwide. But it represents only 20% of the income of the mark (1.5 billion euros in total wholesale rate).

The crocodile is diversifying

Clothing, which weighed 85% of sales in 2000, none reported more than 60%.Meanwhile, footwear (20%), perfume (15%, produced by Procter & Gamble) or watches (5%) took off.

In total, Lacoste has granted nine licenses for specific product categories in different industries. Latest: mobile phones, the company entrusted with ModeLabs, the first model will come in six months. To develop leather, Devanlay created a joint venture with a French specialist sector Tolomei.

Lacoste plans to continue this diversification. "We are in constant reflection on these topics, explains Christophe Chenut, CEO of Lacoste S. A.We look at the world of home and decorating, mobility with electric bicycles or bikes, we've already made a limited number of strollers with McLaren in the United States, but these ideas must pass through many filters and answer a requirement of internationalization. Each license must also help us recruit and retain a new category of customers. "Bags were well designed to feminize a mark at three quarters male.

The woes of Greece to the euro is the first real test of its young history. In ten years, the European single currency has successfully resisted the shock of a rare violence: attacks of September 11, 2001, collapse of the tech bubble, the subprime crisis … Nothing says that the franc, the lira or the peso would through free events such as the euro has done. But whenever these shocks, left the United States, came from outside. But now the danger lies within the zone itself. And gives rise to a nagging question: Greece will she forced eventually to leave the euro? A priori not. For a small country, belong to a large currency area is a rare opportunity. Until the stress becomes so high that it is cheaper to get out.

Athens faces a double challenge. First restore its credibility.Since its integration into the eurozone in 2001, the country has ceased to be faulted on the reality of its economic statistics. Showing at 6% in early years, deficits would in fact 12.7% of GDP, according to the latest tally of the national statistical office. A deception that shows Greece as a kind of "stowaway" in the euro area. And that makes it particularly difficult direct assistance from a European state. Public opinion of the most virtuous Germany, Netherlands or those worried about their own fate as France or Italy will struggle to agree to fund a country that gives the impression of not playing the game .

The second challenge for the Greek government is to prove its willingness to restore as soon as its public accounts.In theory, a State has two instruments to reduce its deficits: monetary policy and fiscal policy. Coin money helps finance its budget while offering the opportunity to play the currency markets by devaluing its currency to boost competitiveness. A move that boosts the growth and cause some inflation. The ideal instrument to reduce debt … by which Greece can not count because, like all countries in the euro area, monetary policy is the prerogative of the ECB in Frankfurt.

Leaves only the weapon strict budget. In this case, the organization of drastic cuts in state spending. The government of George Papandreou as he means? CRAs in doubt, especially as the social climate is strongly degraded in the country, making it particularly difficult acceptability of drastic measures.Failing to do so by itself, the Greek government will have only one solution: to put in practice under the tutelage of Brussels. In a carrot and stick, the European Commission could generate outside pressure strong enough to induce Greece to reform in depth, as the IMF has so often done in the past with countries in crisis. At the price, most of the time of painful adjustments. The question will then arise of how far the Greek people will accept sacrifices to stay in the euro area? The cost to benefit is not so obvious.

Today, the Greek state will refinance at a rate of 5.77% in ten years. A level closer to that of Hungary or Latvia as Germany. In other words, the protection offered by the euro area is almost over.Out of this system could, ultimately prove less expensive what remain, rising long rates may be offset by a devaluation immediately making the country more competitive. While giving the Greeks a sense of finding their democratic sovereignty to which they are so attached since the birth of their civilization.

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After months of debate, the British government seems determined to legislate on the issue of bonus. According to the Financial Times, the British government would consider introducing in its 2010/2011 budget, a "super-tax" which would tax specifically bankers' bonuses. Alistair Darling, Chancellor of the Exchequer, is expected Wednesday to unveil the outline.

In detail, the Financial Times said the tax would be collected over a certain level of bonus, for a limited period. All banks, foreign as British, there would be submitted. Alistair Darling has already said in an interview with the philosophy of planned "at a time as difficult as this one, I think people understand that it is expected that the broadest shoulders bear the weight heavier, "he said.

If this new tax should raise the ire of the City, no doubt he should be more popular among the general public, where the rating of banks is the lowest. The latest bonuses earned by traders for major banks face because the British public, even though these institutions had been massive aid of the hundreds of billions of pounds to prevent collapse of financial system.

Public Accounts bloodless

The government hopes the measure to address tensions of its population, faces rising unemployment and an unprecedented rise in the deficit, which should approach or exceed this year's 12.4% of GDP.

The British traders would thus free of the controversy that accompanied the rescue of banks.The banks are expected to share their escape all taxation, although the government had proposed to levy a tax on profits of banks. However, despite the fact that this option would yield, according to the Times, two billion pounds with a 10% tax, the idea was abandoned, the Financial Times.

Still, this measure alone would not have a heavy impact on public finances for less bloodless. Gordon Brown was to deliver a speech today on the need to reduce public spending, including Prime Minister spot reduce by four the deficit. This necessarily will involve other tradeoffs.

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The NBC drama could soon be over. The Wall Street Journal, the two groups would be heard on the recovery of 20% stake in French group NBC Universal. This would be valued at 5.8 billion dollars. Consequently Cap: title Vivendi opened sharply higher on the Paris Bourse, where the action took 2.87% to 19.74 euros at 9:30.

An agreement General Electric Comcast close

The source quoted by the New York newspaper, that outcome would be consecutive to meet Jean-Bernard Levy, Vivendi's boss, with Jeffrey Immelt, the strongman of General Electric in Paris last week. The talks stumbled earlier on the amount of participation. Vivendi wanted $ 6.1 billion, while GE did that gave 5.6 billion dollars.

The question of how the transaction also blocked, Vivendi wishing to be resolved immediately.This prevented the American group to sell the following Comcast's majority stake in NBC Universal. After such an agreement, Comcast would become 51% shareholder of the company.

For Vivendi, the new money is welcome. The group is expected to cover the cost of the recent acquisition of the Brazilian carrier GVT $ 4.2 billion.

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