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In turmoil, PepsiCo faces a turbulent new shareholder. The investment fund Relational Investors, known to oppose the management of companies in which it invests, bought for $ 610 million of shares of the giant drinks and snacks, or 0.6% of the capital.

The activist fund could give voice to advocate a division of PepsiCo. It would be a step backwards for the inventor of Pepsi. Well ahead in the world by Coca-Cola on its core business, he had experienced a boom until the mid-2000s by diversifying successively in chips (Frito-Lay), fruit juices (Tropicana), the cereal (Quaker Oats) or yogurt (Wimm-Bill-Dann).

Officially, the group of Purchase (in NY) is doing well. "We have had constructive meetings with Relational, said Wednesday a spokesman. Our management regularly meets with investors, and Relational is a respected institution. " The co-founder of Relational Investors, Ralph Whitworth, who bought earlier this year 11 million shares of Western Union and 2 million Abercrombie & Fitch, is since last year a director of Hewlett-Packard. He campaigned successfully in several companies (ITT, L-3 Communications Holdings) for the separation of their activities.

8700 jobs lost

He will reach his goals in the world's second largest agri-food? The split is fashionable in the sector. Another giant, Kraft Foods, completes the separation of its international activity of snacking and its historical American brands. Same thing at United Biscuits, in his sweet and salty snacks.

PepsiCo, the specter of a split between drinks, but profitable low growth, and snacks, which are growing faster, is agitated for several months. A portion of the board would have been favorable towards the end of last year, according to U.S. media. Some investors see it as a remedy for the ills of the past four years the group headed by Indra Nooyi, particularly in the United States. By itself, the North American beverage business accounts for one third of overall sales. But in 2011, its activity dropped 1%, reflecting price increases and insufficient marketing investments. For eighteen months, its flagship beverage was relegated to third place behind American Coca-Cola and Diet Coke. These setbacks have led to a standstill since the arrival of the title of CEO in 2006.

If split, the value of the two entities would be greater than the current capitalization, many analysts believe. Such an operation would also build a true enterprise culture in beverages and attract the talent required to develop them.

In early February, Indra Nooyi has dismissed a split, insisting that "the value of PepsiCo was maximized as a single company." The boss of PepsiCo, which predicted a decline of 5% of its profits this year, has opted for a drastic austerity: 8700 job cuts by 2014 and a savings program, 5 billion. Implementation of its plan will be followed by its new shareholder. If it was not successful, Indra Nooyi – the rumor of the departure – could be forced to reconsider the scenario of a split.

A standard feature of life insurance quotes is a set of written terms and conditions which set out whether the policy being sought is a term policy or a permanent one.

Full financial and economic crisis, Spain will nationalize Bankia, the fourth largest bank, formed by the merger of seven Spanish savings banks in December 2010. The information, released Wednesday by the newspaper El Pais and ABC, has been confirmed in the evening by the Ministry of Economy. This indicated that the government would take 45% stake in banking group, which would make the majority shareholder. "The nominal value of these investments amounts to 4.465 billion euros," the ministry said in a statement. The money would come from public funds to support Spanish banks, the Frob, founded in 2010.

Shortly before this announcement, the Bank of Spain was also confirmed that Bankia had applied its partial nationalization. Announced for several days, this bailout is intended to reassure investors, while the bank accounts are sealed by prime mortgage risk.

The prospect of nationalization of a large Spanish bank, unprecedented in the country since 1992, does not please the markets. On Wednesday, all Spanish banks were sanctioned Exchange: Santander and BBVA have yielded 4.52% and 4.73%, respectively, while Bankia lost 5.84%. Sector In falling throughout the Ibex 35, which closed at a new level since 2003.

A rescue plan Friday

If the measure makes sense in Madrid, Spain is not the first European country to have nationalized its banks since the crisis erupted in 2008. Belgium, the Netherlands, the UK and Ireland nationalized much of their banking sector. In Ireland, the cost of bank bailout was so high, it has increased the deficit to 32% of GDP, forcing the country to seek IMF assistance and the euro area no fax pay day loans.

In Spain, the nationalization of Bankia a turning point in worrying the banking crisis. After the collapse of Lehman Brothers, the big Spanish banks such as BBVA and Santander were cited as examples for their strength. The problems came from "cajas" savings banks that invested with a vengeance in real estate. Today, they are more than a dozen sips but risky assets, including 37.5 billion for the only Bankia.

The government has already asked in early February to banks to provision 53 billion a year, is preparing to present a new rescue plan on Friday, the Council of Ministers.

Recapitalization needs of the Spanish banking sector are estimated at EUR 100 billion, while loans amounted to 143.8 billion euros, according to the latest figures from the Bank of Spain.

Unable to refinance when rates soar on debt markets, Spanish banks have no other choice but to call for help from the state. But the government has not the means to save the entire sector, while its deficit already stands at 8.5% of GDP. And he has already committed for 2012 of 47 billion euros saved. Even if it costs him politically, Mariano Rajoy could be forced to go through using the EFSF (European Financial Stability Fund).

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Presidential in major cities Paris | Leeds | Lyons | Toulouse | Leeds | Sheffield | Liverpool | Bordeaux | Lille

Less than three weeks of its annual general meeting, it is very bad news just learned that the 40,000 shareholders of Berkshire Hathaway. Buffett suffers from prostate cancer.

"This note to say that I was diagnosed with prostate cancer stage 1. The good news is that my doctors told me that my health does not put anything in my life in danger or does not weaken me enormously, "says legendary investor highly respected in the financial community, in a letter. In his message, he explains that he and his doctors decided he would undergo radiation therapy for a period of two months starting in mid-July.

This protocol will restrict its ability to move, but not prevent it to work everyday, he said. The shareholders of its holding company, Berkshire Hathaway, will be required to the evolution of his health, he further said.

However, the American billionaire sought to reassure its shareholders. "I feel very well – as if my health was perfect – and my energy is 100%" guarantee multibillionaire. More importantly, this announcement comes six weeks after the guru of finance said that the estate is already assured. He concluded: "I will inform the shareholders (Berkshire Hathaway) immediately if my health changed. One day, of course, it will happen. But I am convinced that this day is still far from us, "he concludes.

By launching a "pico" that can creep into his jeans pocket, Sagemcom, already number one in Europe, hopes to boost sales. Last year it sold 225,000, a growth of 75%.

"We estimate that the global market should be increased tenfold by 2015 to reach 5 million units sold," said Nicolas Denis, Director Sagemcom documents. He said the ultimate. "Rather than looking at more video on the screen of his phone, kids can project onto a wall, table … their image in large, up to 3 meters diagonally," he adds. To give more visibility to its pico, Sagemcom decided to market them under the Philips brand. "We have a licensing agreement with Philips brand which has an international reputation," says Nicolas Denis. A contract that allows the Dutch, in addition to the payment of interest, maintain the brand recognition among the general public.

The pico-projectors can also be connected to some digital cameras, a PC or a tablet. But for Sagemcom, use will be primarily related to smartphones. Even if they could be the main competitors of pico-projectors. Samsung has launched the Beam, a smartphone with integrated pico. For its part, Sony has built into a camcorder. They also arrive in cameras and nothing precludes a tablet with a pico-projector arrives one day in this market.

To compete with this type of product, Nicolas Denis put on two assets: the battery of these devices – the image projection is very energy – and the brightness of the projected image, still relatively low when it comes from a smartphone. This last consideration is specificity in Lumens. The latest addition to Philips displays SamgemCom-30 Lumens, it is two times more than a smartphone. This allows to see the image without needing to be in the dark. "There is a demand for pico projectors, as there is for USB. It depends on the degree of expected performance, "said Nicolas Denis, who also builds on the innovative capacity of Sagemcom. For proof, Dragone's latest is also a USB port (patented). What limiting cables to transport and adapt perfectly to the side "pocket" of the object!

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Release still stands. While the newspaper has recently published a full page to remember that it won 5.39% of distribution paid France last year, according to OJD, the best performance among the national dailies, all employees, together in civil society personnel Liberation (SCPL), Tuesday signed a letter of genuine grievances against their managing editor and publishing, Nicolas Demorand.

"One year after the arrival of Nicolas Demorand, the graft did not" attack the SCPL, including the editors of Liberation. "The list of grievances is long," continuing employees, evoking by turns being "dispossessed" of the newspaper not to identify with it. They blame their managing editor, former France Inter recruited by Edouard de Rothschild in early 2011 to revitalize the newspaper before the election, not to give clear direction, only to take "no account of what the drafters, they can learn according to their skills and ability to work together. " They say they are despised by a direction described as "authoritarian and arrogant." "Differences of view" would be the source of "confusion as editorial organizationally."

The SCPL editorial criticizes the current, that Nicolas Demorand prints for over a year, "one eye-catching," an "editorial treatment supporter" Libe … yet made the subject of regular times in the press reviews and in social networks for its one noticed, especially when the DSK affair last May or the beginning of the presidential campaign. This "policy Cover" has undoubtedly contributed last year to an increase in newsstand sales (individual sales) of over 10%, nearly 9,000 additional copies.

June 2011, a motion of no confidence was passed by the same SCPL, which already criticized Nicolas Demorand of being "out of step with the culture of the newspaper." The grievances were already numerous.

Nicolas Demorand has not yet responded to these attacks.

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A few weeks before the start of the tourist season in Greece, industry professionals are concerned about given the country's image abroad. The clashes that broke out between police and demonstrators, repeated strikes in public transport and the crisis affecting the economy, trade and health, greatly tarnish the reputation of "Mediterranean paradise" Greece had so far.

For Francoise Deschamps, Director of Travel Agency Profile in Athens, it is a bad trial because the country. "Violence is not the nature of the Hellenes. There are fewer demonstrations and strikes if they only last a few hours when it comes to archaeological sites. The Acropolis is always accessible to all, "protested she.  

Lower prices

While acknowledging that bookings were down this summer, Francoise Deschamps makes a point of honor to overcome stereotypes, "apart from the American Express (which is rarely accepted because traders are unwilling to pay 7% commission) you can pay everywhere with a credit card or a Visa. No need to bring cash into oneself. Distributors are always stocked, "she says.

The large luxury resort with beach, private pool and gourmet restaurant at the guesthouse, hoteliers were for the most part, forced to lower room rates and offer additional services to each reservation. "Our prices have dropped by at least 20%," says Adrian Vassilikos, director of Airotel, owns six hotels in the country. If the crisis is especially hoteliers, because of increased taxes and reduced bookings, Adrien Vassilikos remains confident: "Tourists know that Athens, like the rest of the country, is one of the most safest in the world. No risk of terrorism or crime. The crisis has not increased the number of pickpockets. To this we must add that in case of accident or illness, we have very capable hospitals, providing care free and urgency, "he said cash advance payday loan.

Of solidarity

Tourism is the second largest economic sector in the country, representing 17% of GDP, after shipping. In 2011, Greece has benefited more or less the effect of revolutions and Arab tourism, compared to the previous year, increased by 10%. This year, some professionals rely on the solidarity towards Greece, shot by the crisis. This movement is gaining ground worldwide and in all sectors. Twenty major Greek groups, as the airline Aegean or Coca-Cola Hellenic, even financed full-page newspaper ads French, German, Dutch, Belgian and British. Under the slogan "give a chance to Greece", these advertisers show a country in flux, despite its economic vicissitudes.

A bank of tourism in the study

To improve the competitiveness of the tourism sector, the Greek government uses the aid of the "task force". This working group of the European Commission, whose representatives are installed in the Greek capital, shook the tourism industry. "Being competitive yes, but then to build infrastructure for mass tourism, there is a margin," worries Francoise Deschamps, Director of Travel Agency Profile. "Greece is a country that fits the needs of every tourist. You can still find himself alone on a beach, eating in a tavern or family homestay accommodation is unique and should not destroy it for the sake of competitiveness, "she adds. Several projects are in preparation at the Ministry of Finance including the creation of a bank or tourist development projects of ancient sites, remote islands from Piraeus or agricultural areas.

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Apple will host a conference March 7 in San Francisco at 19 am, French time. Program, the announcement of the new iPad, whose invitation to deliver the first image appears.

As every year, rumors are rife about the specifications and new features in Apple's tablet, which should be examined with interest by its competitors.

Two years after the release of the first version, the iPad indeed still dominates the market with 50 million sales, all models, against 12 million Android tablets, and is a reference to the sector payday loans guaranteed no fax.

The new iPad should propose an improved screen, displaying four times as many pixels on the same surface, but could also integrate Siri and why not, be accompanied by an iPad Mini, smaller. This graphic provides an update on the major rumors, according to their reliability.

Chroniclers weather will give heart to joy. Not only it is cold, but with the wind, "the temperatures experienced" are even lower. The fold is taken: we now no longer communicating indications of the thermometer observed "under cover". It highlights the feelings of bystanders facing the wind. This is obviously more spectacular when it's 0 degrees on the thermometer and the wind blows at 10 km / h, the wind chill is – and it falls 3 ° – 5 ° at a speed of 20 km / h.

This phenomenon that scientists call "wind chill" was discovered in 1940 during an expedition in Antarctica by Paul Siple. But it was popularized there about ten years, when the media, first in the U.S. and Canada, and Europe, have provided consistently figures in their weather reports. Note that this is a physical reality, and not merely a psychological representation: the protective layer of warm air generated by the human body itself at 37 °, must be renewed more frequently that the wind is strong. Perception of cold is very real.

In the economic field also, "feel" of households and between bosses increasingly into play. It even tends to become the main instrument for measuring the economic climate, for convenience of calculation. It is indeed much easier to ask a panel of business owners if their production increased last month to collect their sales activity. The latter procedure requires aggregate car sales, kilograms of tomatoes and air tickets, which is long and delicate.

The services of the European Commission and questioned each month 125,000 businesses and 40,000 consumers in 27 countries of the Union, both on past activity and prospects coming months. These results, expressing the sense of economic actors – soft data, in English – are obtained almost instantaneously. They are often considered more accurate than traditional statistical data on quantitative (hard data). In France, INSEE shows real-time views of households on the labor market, while the Ministry of Labour provides a month late with the number of job seekers.

The medal has its reverse, however. Discrepancies may arise between the vox populi and accounting realities. Upon the introduction of euro notes and coins, there are just ten years, European consumers have moved to a surge in consumer prices by 4% to 5%. The European Central Bank held instead that the drift did not exceed two or three tenths of a point of additional inflation. This discrepancy between official figures and their perception of "real people" led to a series of explanations: consumers are more price sensitive in their everyday purchases, such as baguette, which were most affected by the introduction of the euro, etc..

Policymakers are rightly concerned about how households perceive things. Like the eighteenth century Irish philosopher George Berkeley, they are led to believe that "only what is perceived to exist." When soliciting votes public, which is in the minds of voters has truth value.

The French "are tired of the growing gap between statistics that show continuous progress and growing difficulties they experience in their daily lives", had expressed concern in January 2008 Nicolas Sarkozy. And to bridge this gap between men of art and the general public, he asked Joseph Stiglitz and Amartya Sen, both Nobel Prize in economics, to think about other ways to measure economic wealth than in the sacrosanct GDP. Responding to this concern to "humanize" economic indicators, and other INSEE national institutes have set up a "personalized price index": everyone can calculate – on the website of INSEE – its own inflation rate based on its expenses.

This is laudable, but it is also paradoxical. "The statistics were invented to go beyond what people can see themselves and are now under attack because they do not reflect what people perceive of reality!" , according to former Chief Statistician of OECD Enrico Giovannini.

Worse, it became impossible to escape the image of ourselves, constantly updated, we see in the mirror figures. Its redundancy – just check out the long list of indicators days pending publication – main function to supply high-frequency stock markets, which are fond. For individuals we are, the velocity of circulation of this information produces exactly the same effect as the wind on our bodies. It forces us to constantly renew the idea that we have of our situation. This can only be rehashing debilitating. Feeling of resentment, there is one syllable, and not just any.

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The family group is very discreet about its level of profitability, but ensures that the results are sufficient to guarantee its independence and its development without the need for external partner and relatively little use of banks.

Part of the offshore production

"In 2012, the economic environment would be bad in Europe and the United States, recognizes Jean Cassegrain, but we feel no impact in our stores." As a result, the company, which opened 20 stores this year in the world, plans to continue its expansion, even in mature markets. Longchamp is well to open a shop in Nantes. "Our priority is to open boutiques in major European cities in China," says the CEO. Longchamp will open a store in Milan in March.