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In extremis, the European Commission and the U.S. shareholders of Dexia have completed their rough Friday trading on the sacrifices that the Franco-Belgian bank will make. "This agreement ends a period of uncertainty extremely painful for the employees of the bank, welcomed yesterday Pierre Mariani, managing director, that is to say operating officer of Dexia.

In the fall of 2008, as Fortis, Dexia had found just hours after insolvent, unable to find markets daily cash needed to balance its balance sheet. Its shareholders (TFB French, Belgian holding parastatal) had flown to her rescue, and the French, Belgian and Luxembourg. Before the Commission, Dexia has also managed to restrict the amount of state aid to the only reviewed recapitalization States.This has helped limit the damage on the amount of concessions that are required of the bank.

Specifically, Dexia will in 2014 have reduced its balance sheet by 35% compared to what it was in late 2008. A goal that adds only a few assignments, relatively marginal to the restructuring plan prepared by management of Dexia itself: in addition to the scheduled liquidation of its bond portfolio, Dexia will divest its subsidiaries in Italy, Spain, Slovakia and insurance in Turkey.

For Pierre Mariani, the key challenge is won Brussels recognizes the viability of Dexia, and considered credible ability to survive without any government assistance free credit report and score . And projections are optimistic, according to the Federation of e-commerce and distance selling (Fevad), who presented the results Tuesday, the amount could reach 46 billion by 2012. The increase in 2009 was fueled in particular the creation of 17,000 new commercial sites, two every hour!

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.

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.

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.

The Walker Report on the bonus shook the City

The City is unleashed against Nicolas Sarkozy

Michel Barnier attempts to allay fears in the City

After the French and Finnish, is Britain's turn to make reservations on the flight control system of the EPR, the third generation reactor group Areva, supported by EDF. Management of Health and Safety UK, the body responsible for the safety of the nuclear industry in the United Kingdom has warned Friday it could not agree to the concept of the EPR and that the Westinghouse AP1000 reactor, the nuclear subsidiary of Japanese group Toshiba.

The safety authority said it nevertheless continued to believe that the two concepts could be suitable "for building new nuclear plants in the United Kingdom, but the two designers had" much work was carried out to meet our questions (…) security. "

The Areva group immediately responded

"It is quite normal that questions be raised before the final certification and the launching of a new reactor. These exchanges are integral to a transparent process, "responded immediately Areva group, chaired by Anne Lauvergeon, in a statement. The evaluation process should not end before 2011 and the first plant should be started in 2017.

In the News group Areva, the sale of its subsidiary transmission and distribution power T & D. While the choice of buyer is expected very soon, we learn that the CEO of U.S. conglomerate General Electric, Jeffrey Immelt, candidate for redemption, met with two consultants Nicolas Sarkozy to defend his group's bid, the Financial Times.

Areva received November 9 three bids came from the French firm Alstom, Schneider, General Electric and Toshiba of Japan for the redemption of its T & D division, estimated at between 3 and 5 billion euros.

For the first time since 2008, global demand is on track to resume growth in the fourth quarter of 2009. This is the conclusion of the monthly report released Thursday by the International Atomic Energy Agency (IEA). The Paris-based organization has raised its estimate for world demand this year to 84.8 million barrels per day (bpd), down 1.7% on a year while she was counting on hitherto a contraction of 1.9%. This upward revision is due to increased demand in the fourth quarter of this year. Subsequently, demand should rise to 86.2 mbd in 2010, an increase of 1.6% over one year, thanks to strength in emerging markets.

The agency, which represents the interests of consumer countries concerned, however, this increase in demand which would add additional pressure to oil prices, which currently evolve around $ 80, after falling below 35 dollars at the end 2008 at the height of the crisis. "The rebound in global oil demand could be much more limited if the price increases continued in 2010," says the Agency. According to her, too sharp rise in prices of black gold could slow the rebound of the economy that is currently taking place in most Western economies, including the United States, the largest consumer of oil in the world.

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