International News

Nothing is too good for your cat. Gourmet Gold (Nestle Purina) had once again demonstrated his last Christmas with advent calendar for cats. Within bloated, with about 300 references in hypermarkets, market participants are trying everything to distinguish. Increasingly segmented, the offer meets the multiplicity of races and needs (neutered cats, dogs, seniors …). If the volume growth is limited by the stagnation of the animal population, this does not prevent the market to go upmarket. "The market valuation is an underlying trend for twenty years, due in significant R & D of the two main actors," says Sophie Dubois, president of Nestle Purina PetCare France, leading supermarkets. "It's a market that is still growing despite the crisis through a range of increasingly sophisticated," said Mr. Klersy, boss of Mars Petcare & Food France, elbow to elbow with Nestle.

All channels, the market grew by nearly 2% last year, driven by the cat food in supermarkets (+4.8%) and by specialized circuits (+2.2%) and hard discount (+ 2.8%). Manufacturers are dealing with consumers particularly loyal to brands and less fussy about spending. "The teachers treat their pets like their babies, says Paula Flores, an analyst at Euromonitor. They prefer to arbitrate in their other expenses rather than penalizing their animals and they pay more attention to product composition and origin of ingredients. "

The niche of organic

As in the human diet, it is the aspect that health and nutrition is most strongly developed in recent years. Revenues have been revised to aid digestion, promote the beauty of the hair, oral hygiene … Purina has launched earlier this year provides a digest of Friskies. The challenger, Spanish Ultima (Affinity Petcare), which is gaining ground in France, it has launched a premium milk "digestion light" for cats minibouteille plastic. He also headed for the prevention of aging dogs with Protect +, based antioxidants.

Manufacturers have also seized of the issue of overweight, which affects 40% of dogs and cats, often in search of exercise. Offers a light there for six years. Pedigree (March) has launched a range of kibble for the prevention of obesity. For the first time in the pet food, calories per serving and recommendations daily on the packaging. "We want to make it more accessible nutrition that was found previously in dedicated circuits, but more expensive," explains Michel Klersy.

The form and content are treated as one as the other: in March launched a new container (Sheba Dome Fusion), Purina an offer for the week (Gourmet A la Carte) … In high growth (+10%), the individual portions Cat boosted the market because of their practicality. The pouches have the tackiness can. At the initiative of March, challenger on this radius, the portions are smaller (50 g) and more refined (and steaming grill). As for brands, down like the rest of the food, they are the only ones to have invested the organic niche.

"There is still a high growth potential"

But the big winners of the linear snacks are undoubtedly dominated by Mars. Another commonality between the companions and their masters, adepts of snacking … This is the fastest growing segment of the market (+ 12% of the dog, 23% of cats). Along with sweets, biscuits and dental sticks, there is even now a … sauce pour over patties signed Brekkies (Ultima), which resembles nothing so much as a bottle of ketchup!

Dedicated circuits (garden centers, pet …), who suffer their price image, continue to hold the upper hand on the superpremium. Proplan (Nestle) is working to reduce the gap with the great leader, Royal Canin (Mars), and target new health benefits as those of older cats or those suffering from urinary stones. In these circuits, "there is still a strong growth potential because we have to convert all those who have not yet aware of how nutrition," says Isabelle Bellet, development manager for France Procter & Gamble (Eukanuba , Iams), the youngest, who put on animal protein composition and gluten and soy products.

Instant payday loan is a loan that is given without any mortgages or securities and you are to pay back the money on our next payday.

China is becoming the new frontier of Dassault Aviation (whose largest shareholder is the owner of Figaro). "We set up in China where we are creating a subsidiary. By the end of 2012, will employ 25 people, "said Sunday Edelstenne, CEO of the French aircraft manufacturer, on the eve of the opening of the Fair Business Aviation (Ebace), which is held in Geneva until May 16

After opening sales offices in Shanghai and maintenance and Hong Kong two years ago in partnership with Jet Aviation and Hawker Pacific, the manufacturer of Falcon jets dope his device to enjoy a hot market. Given the regulatory constraints in China, "to establish long term, we need a subsidiary," insisted John Rosanvallon, President and CEO of Dassault Falcon. Headquartered in Beijing, will be operational this summer.

China has recently become one of the first customers of Dassault. The group plans to deliver 12 Falcon this year (out of 65 in the world) against 8 in 2011. Last year, half of its orders, or 18 devices, were placed with Chinese customers. This market looks like a pyramid upside down. Customers were immediately turned toward the high end. Dassault has already taken 20 orders of 7X, his flagship, which cost around $ 50 million.

But the market matures. "The number of new customers for our various models in the 2000S 7X is very promising," confirmed Edelstenne. The customer profile is changing China. The primary motivation for buying a jet status has long been a way to show his power and care networks. This is still true. "But the Chinese bosses are increasingly using their planes more for really professional, to save time, improve productivity, said Jean-Michel Jacob, CEO of Dassault Falcon-China. And the fact that Chinese companies increasingly go abroad reinforces this need, this awareness low fee pay day loans. "

Lack of airway

In three years, the business aircraft market has exploded in China. In 2011, "the country became the first market for all manufacturers in terms of sales," says Jean-Noel Robert, who chairs the Asian Business Aviation Association. China would be "third world market, and this share is expected to increase." The scope for growth is huge. Where there are 15,000 private jets in North America, there are fewer than 500 in Asia.

On the Hong Kong airport, the business aviation fleet is already the second and should become the first, before that of Cathay Pacific. "Asia, particularly China, is our main export market," noted Larry Flin recently, President Gulstream, recalling that its fleet, including Hong Kong, had jumped from zero in 2000 to over 80 aircraft today. For its part, Dassault Aviation now holds 30% market share in China, which should account for 20% of its production in the coming years. According to Canada's Bombardier, more than 2,300 business jets will be delivered in China by 2030, for a fleet of 150 aircraft today.

As part of its 12th five year plan, adopted last year, China has included among its objectives the development of business aviation. However, there is still the brakes, such as lack of airways, with a sky very locked and controlled by the military. But the problem is mainly lack of infrastructure and skilled staff. There are only 150 civil airports in China, 1500 against the United States. The number of airports will increase by 27% in China by 2010.

ALSO READ:

"China, the future of boating paradise

"Foreign manufacturers are boosting their investments

"Renault is preparing to set in China

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

Danone Nestlé pipped to the post. After months of bidding, both groups had submitted their final offers Friday the pharmaceutical company Pfizer to buy up his infant nutrition division. At a Board of Directors held this weekend, Pfizer, according to our information, preferred the Swiss giant, world leader in food, the French group.

Danone had yet put on the table just over $ 11 billion for the opportunity to strengthen its branch child nutrition (Blédina, Dumex) in Asia and Latin America. To prevail, the group led by Franck Riboud was finally does not ally with American specialist baby milk Mead Johnson, as he had been a time draft. Anxious not unsustainable debt and not having to sell its bottled water to fund this acquisition, Danone was however associated with investment funds for a portion of the acquired business to Pfizer, and intended to sell assets in infant nutrition in Europe (excluding France), Australia and New Zealand.

Three times larger than Danone, Nestle has used its war chest to win. By paying more than $ 11 billion for an activity of 2.1 billion, including the Swiss group will be able to recover some of its delay in this sector in China.

ALSO READ:

"Nestlé favorite for the redemption of baby milks Pfizer

Zadig & Voltaire is poised to succeed his conquest of the West. Not only the French glam rock label founded in 1995 multiplies the openings across the Atlantic, where it already 8% of sales: in the end, she will inaugurate its eighth shop, 200 square meters on the prestigious Madison Avenue.

Better yet, Thierry Gillier, founder, owner and patron, comes to do business with a prestigious U.S. investment fund, TA Associates. After five months of negotiations, he signed on March 30 a memorandum of understanding, under which TA Associates will take 30% stake in Zadig & Voltaire. Reportedly, the agreement, which should be completed and made public in the next few days, values ​​the company 380 million euros. For its last fiscal year, ended July 31, Zadig & Voltaire has indeed achieved a turnover of 130.6 million euros and an Ebitda (EBITDA) of 34.2 million.

The investment firm TA Associates who invested since 1968 in hundreds of medium-sized enterprises with high growth in finance and the Internet, the bank was advised by Rothschild & Company for the operation. It will pay 11 times earnings of Zadig & Voltaire to diversify into ready-to-wear clothing. A multiple close to that achieved at the entrance to the capital of Eurazeo Moncler, last June.

Professionalise the governance of society

For Thierry Gillier, advised by Laurence Danon, Edmond de Rothschild Corporate Finance, this operation is the culmination of a long reflection no faxing payday loan. The contractor pushes for four years because of advances investment funds, as TowerBrook Capital and L Capital, and large banks. HSBC has thus approached several months ago for an introduction to the Hong Kong Stock Exchange. But it was too early to Thierry Gillier, because the claw is not yet established in China.

In addition, Zadig & Voltaire, little debt and very profitable, does not need money. His boss has always maintained that it had enough cash to open 30-40 new stores worldwide this year. Zadig & Voltaire, which already has 70 outlets in France and 75 abroad (including booths in department stores, shops and franchised malls in Dubai, Moscow and Casablanca), will open this year a third store in Hong Kong, shops in Barcelona, ​​Moscow and in Germany, and a dozen corners in department stores like Bloomingdale's and Nordstrom in the U.S.. The transaction with TA Associates allows one hand to Thierry Gillier to achieve part of its capital and the other at Zadig & Voltaire entered a new stage of its growth and move beyond small family . The company may professionalize its governance, improve its financial structures and especially benefit from the expertise of TA Associates in the International Markets.

Thierry Gillier wants Zadig & Voltaire makes this year half of its sales overseas. Reportedly, he aims for the fiscal year began in early August up 19% of consolidated sales and an even more rapid Ebitda.

Times are changing. Apple also. Tim Cook, CEO of the group, visited China this week. This is the chief executive of the Apple brand to do so. Territory that Steve Jobs has ignored many years before the first open an Apple Store in 2008, but he never went. Thursday, the world's factory and especially Apple, China today is a tremendous reservoir of consumers. The Chinese world – mainland China, Hong Kong, Macao and Taiwan – is already the second largest brand, behind the United States.

No question of the destination then sulk. "China is very important to us and we look forward to further invest and grow here," and said Carolyn Wu, spokesman for the brand in one of the few interventions official Apple communication very stingy on the Overall the visit Tim Cook. Received with honors by the Vice-Premier Li Keqiang, tipped to succeed next year in the current prime minister, Wen Jiabao, also met with California leading operators China Unicom and China Telecom. First local operator, China Mobile still in talks with Apple to launch iPhone on its network. Moreover, an intellectual property litigation on the brand "IPAD" claimed by a Hong Kong company, slows sales of iPad in China, where the latest version has not yet been launched.

Wave of suicides at Foxconn

But the trip leader California also sought to address criticisms been rising, from around the world, on the manufacturing conditions of its high-tech products payday loans lenders. In 2010, a wave of suicides had given to Foxconn, Apple's main supplier that produces iPhone and iPad in China, a fatal reputation, yet tarnished by an explosion in a factory and workers of poisoning by chemicals.

An image so disastrous that earlier this year, the American actor Mike Daisey had no trouble getting across the Atlantic believe that Foxconn, children 12 years working in factories guarded by armed guards, before admitting that this information had been made.

No wonder Tim Cook will be split from a visit to the new Foxconn factory in Zhengzhou, south-west of Beijing, including the official photos showed smiling employees. The Apple brand is committed to improving working conditions in its factory in China, signing an agreement with Foxconn on the hiring of tens of thousands of employees, improving safety and solving the problem for hours additional illegal.

Earlier, China had the opportunity to lecture foreign companies invited by Li Keqiang to "take more care of their workers," according to comments reported by the official daily English-language China Daily.

ALSO READ:

"Which countries are involved in the manufacture of iPod and iPad?

Born primarily the desire to escape the influence of the United States and Europe, the group of Brics, which includes Brazil, Russia, India, China and South Africa, is still seeking an identity. For now, the five emerging economies, which account for 40% of world population and weigh almost a quarter of global GDP, have in common especially their insolent growth. A favorable economic foundation for greater integration, but that has yet to consolidate.

More ambitiously, the desire to define a common diplomacy is squarely a figment of the imagination, as are large differences within the Brics international political crises. Not to mention the simmering conflict between India and China, who have not settled their border issues.

Nevertheless, the Brics are taking shape. And the fourth summit of the five emerging countries to be held Thursday in New Delhi could lead to some concrete decisions. "The Brics are a unique group. It is not based on geography, as the European Union (EU) or the Association of Southeast Asian (ASEAN), "notes Sudhir Vyas, Secretary for Economic Affairs of the Ministry of Foreign Affairs Delhi. Adding: "Beyond their role as drivers of global growth, the five countries are united in their desire to seek durable solutions to global challenges, they can afford."

Although Beijing and New Delhi have revised their growth forecasts downwards, the two capitals show figures to be the envy of Europe and the U.S.: + 7.5% of GDP increase in China this year + 6.9% in India. According to a report released Wednesday by Knight Frank and Citi Private Bank, India could become the world's largest economy by 2050. "China will overtake the U no teletrack payday loans.S. in 2020, and will be overtaken in turn by India in 2050," analysts said.

Compete with the dollar

Wednesday, the eve of the summit, trade ministers of Brics had several working sessions in New Delhi. "The consequences of the financial crisis (in Europe) affect everyone. We must work together to overcome the problem, "said the Indian Minister of Commerce and Industry, Anand Sharma. Chen Deming, his Chinese counterpart, dearer: "It is urgently necessary to prevent the crisis in the European Union is escalating."

The agenda of the summit of Brics is vast. It only last a few hours, in a transformed Indian capital into a fortress. It will discuss food security, health, but also the puzzle of the Iranian nuclear and Syria. The highlight, however, will create a "bank of Brics", already nicknamed "South-South Bank." The project, proposed by the Indians, is still in its infancy. But the idea is timely then that the Brics seek to formalize their lives by forging institutions.

Bank of Brics would particularly called upon to finance infrastructure projects in developing countries. It is also a great way to circumvent the euro and the dollar … the benefit of the Chinese currency. This is not to please all members of the group. Brazil, in particular, complained about the undervaluation of the yuan. "This project shows that bank emerging attempt to withdraw from the World Bank and International Monetary Fund, which are dominated by Westerners," says John Mashaka for its part, an analyst at Wells Fargo Capital Markets.

ALSO READ:

"The Brics, an engine of growth

The financial and economic crisis in full swing throughout the world, with its procession of bankruptcies, plant closures and layoffs? But lo and behold, it does not stress CEOs unduly: this is certainly the result of a study conducted by the audit firm and consultancy, Grant Thornton, with 6000 companies worldwide .

According to figures from the International Business Report, the rate of business leaders saying be stressed has never been so low for seven years at the global level, 28% (it reached 45% in 2010). The phenomenon is identical to the European level, with a stress level in company from 40% in 2010 to 22% in 2011.

Another lesson for the least surprising, who would have thought that France is part of the least stressed in the world: this is a reality, says Grant Thornton. It is indeed in France found the rate of the lowest stress patterns, with 29% against 34% at EU level.

For Jean-Jacques Pichon, partner at Grant Thornton, "these figures are encouraging but the stress level within companies is still high. However, satisfaction and well-being of employees are important data for growing businesses, "says he.

The Southeast Asia is the region of the globe where we find the highest proportion of employers stressed (44%), however, a figure lower than in 2010 (58%). And large countries, the study highlights a perfect correlation between the worsening economic crisis and soaring job stress, "the three European countries have undergone the recession and the biggest increase in stress level in 2011 are Greece (67%), Spain (37%) and Italy (32%), "she says No teletrak payday loan. In contrast, only 5% of Danes and 8% of Finns said they had been stressed during the year.

Need a holiday

The causes of stress are varied but the primary concern of business leaders is "to achieve the performance goals." Then come the workload, the internal politics of the company and the balance of work life / personal life.

To evacuate "the evil of the XXI century", which still costs € 20 billion for European companies, the International Business Report recommends several remedies: play sport regularly, delegating tasks, better organize the teams, keep pace regular work … and take more vacations!

Countries with rates lower the stress are those in which firms make the most of holidays. This is the case of France, but also Denmark, the Netherlands and Russia. "Obviously, with employees who feel rested, better about themselves, who can control their stress and make decisions with a clear vision, performance for the company is considerable," says Jean-Jacques Pichon.

ALSO READ:

"Quality of work life: employers rewarded

"Work: Employees engaged but disaffected

SERVICE:

"All jobs in France and abroad with Cadremploi

FOLLOW THE INSTRUCTIONS ON FIGARO:

"Twitter: @ LeFigaro_Emploi

Not easy to swap clothes for those of David over Goliath without being criticized. For nearly twenty-five years, Apple has enjoyed the affection – not to speak of passion – to some extent by this small company, the maverick world of personal computers and a thorn in Microsoft Almighty .

In less than a year, Apple acquired the status of the business world's most expensive, top selling smartphones in the fourth quarter 2011, a number of computers at HP (by adding the sales of iPad and Mac) . The Apple brand has always had detractors. Its success has added to criticism, particularly those concerning working conditions in its Chinese subcontractors. These are nothing new, but the good financial results of Apple have redoubled the ardor of his detractors. In late January, the New York Times has published a lengthy investigation dependent, widely broadcast on the Net.

Working conditions of employees of Chinese subcontractors Apple are regularly placed on the hot seat. The U.S. media decry the use of children and failure to follow safety rules (poisonings and explosions occurred in Chinese factories).

Sorry, this video is not available on your device.

Oil flirts with $ 100 a barrel. But it could climb higher, it is in any case the feeling of the experts of Edmond de Rothschild Asset Management which assumes about $ 120 a barrel next year.

The return of the production of Libya on the market faster than expected: it reached about 700,000 barrels per day (against 1.6 million before the crisis in the country), "a figure that was thought best to reach the end of years, "said Edmond de Rothschild Asset Management. The country should, in this study, return to its previous capacity until mid-2012. Meanwhile, production of mature countries such as Norway, Mexico and the United Kingdom declined. And falling stocks including the United States.

"Countries like Saudi Arabia require that the price of oil is at a relatively high (above 90 dollars per barrel) in order to balance their budgets," said the study payday loans.OPEC therefore intervene in the case of lower prices. A scenario that does not, however, resist a global recession.

A further increase of gold expected

Among commodities, gold has also been rising by several asset managers. Edmond de Rothschild Asset Management believes that in a context of very low interest rates, the market should remain strong.

The Swiss Bank Wegelin, too, advises his clients to hold physical gold, not least because it considers the euro, the yen and the dollar overvalued. "When all the current problems are resolved, then it will be time to get out of gold" summarizes Magne Y. Orglandes, managing partner of the Swiss bank.

In the third quarter, gold demand has also increased by 6% according to statistics from World Gold Council, reaching a record $ 57.7 billion (42.7 billion euros).