The clothing giant Hennes & Mauritz (H & M) has, once again, makes investors wince and smile fashionistas. The chain has indeed saw its stock fall by 4% in session Thursday after yet displayed, for the first quarter, sales growth (+13%), to 3.14 billion euros and net income up ( 4.6%), 310 million, but below analysts' expectations. Its gross margin was down 2% year on year, to 55.8%.

H & M defends itself by arguing that its margins were impacted by higher production costs, including cotton and the wages in Asia, the group chose the least possible impact on prices offered to customers. Profitability has also been undermined by "long-term investments to expand our total supply," said the boss, Karl-Johan Persson, including "a completely new chain of stores" for 2013.

H & M intends to repeat the international success and very "profitable" for its first upscale brand, called COS (Collection of Style as) and launched 5 years ago. His second string, which will be launched to conquer major cities worldwide, will be even more upscale, but will remain open: "This brand will be positioned on a separate segment higher price than COS while offering the best price for each item" , said a spokesman.

A team dedicated to new concepts

If Spanish Zara (Inditex Group) dominates H & M and Gap others in terms of responsiveness to trends, however, Swedish wants to keep one step ahead in the "masstige", this complex cocktail of "mass- market "and" prestige ". Number of creators and signed lines for H & M, including Versace Marni recently.

Last stunt of the Swedish chain: at the London BAFTA ceremony, the "Caesars" British, Michelle Williams seemed dressed in haute couture. The actress, who plays Marilyn Monroe in the film, was actually a golden corset and organic cotton skirt and satin back crepe designer H & M. A similar holding will be sold soon to clients of the Swedish chain. Similarly, parades American stars on the red carpet in the middle of Oscar season, H & M has convinced celebrities to wear dresses of his online "Exclusive Conscious", which models will, in April, sold in a selection of 100 stores, in its new and larger collection "H & M Conscious."

In the world of fashion, the new concept of future H & M has not totally surprised: not long ago, a famous fashion designer Scandinavian Behnaz Aram, was hired by H & M to strengthen its teams dedicated to " new concepts. " A discreet but strategic cell that has already developed three brands: Cos, and Monki Day Weekend, and H & M Home.

Like SOC, which will open its first store outside Europe, Hong Kong, the new chain H & M will be a strong argument to fight against Zara and its upscale brand Massimo Dutti, especially on emerging market savvy luxury.

2 trillion dollars, 1.5 trillion euros. This is the amount of the invoice World crude this year, according to estimates by the International Energy Agency, if oil prices remain at their summits in the coming months. Warming relative to GDP, oil purchases could represent 3.4% against 3.1% in 2011.

In the EU alone, the cost would be $ 500 billion, $ 426 billion for the United States and 250 billion for China. The weakness of the euro against the dollar increases because the oil bill, dollar denominated, for Europe. From $ 1.49 last May, the European currency is now worth $ 1.33.

Last year, with a barrel to $ 125 on average $ 107 in London and New York, purchases of oil in the world have cost 1.8 trillion. In 2008, when the barrel reached a historical peak of 147 dollars, the bill had risen to 1.7 trillion.

The invoice record concerned the president of the U.S. central bank, Ben Bernanke. He said yesterday in a television interview to ABC News, that the surge in gasoline prices, largely due to soaring oil prices, was a "major problem" in the United States, while affirming she did not put "at risk the economic recovery" of the country. According to the American Association of motorists AAA, the average price of regular gasoline at the pump in the U.S. yesterday showed an increase of 5.7% on month and 8.8% year on year. In France, the price of fuel will record after record and a liter of unleaded 95 has exceeded the 2 euros in Paris.

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No turnaround but no collapse either. Dissemination of the mainstream press has eroded again in 2011, an average of 2.26%, a decrease of similar magnitude in 2010, according to figures presented Thursday by the OJD, the body diffusion control of the press. According to the Observatory, the French have bought a total of just over 4 billion copies last year.

All families press record a slowdown in sales. If the decline is marked for magazines (-3.11%), it remains contained to the regional daily press (-2.28%) and the national daily press (-1.36%). Among the dailies, Francedemeure West title with the highest circulation (748,213 copies in France paid broadcast). Le Figaro (321,101 copies) and The World (292,062 copies) dominate nationally. Erosion is strongest for Sunday newspapers (-4%) and regional weeklies (-4.4%).

Among the major categories of magazines, newspapers television (TV Magazine, TV Z, Tele 7 Jours …), which represents 40.6% of volumes of magazines, fell by 3.3% between 2010 and 2011. This withdrawal explains to a large extent the magnitude of the decline of all magazines. The women, who had risen in 2010, this time displayed a drop of 2%. Hardest hit the tabloids, which had peaked between 2006 and 2008, accelerating its reflux of 4.6%. Only general news headlines (Paris Match, Le Figaro Magazine …) and news (Le Nouvel Observateur, L'Express …) take their game well, limiting their respective decreases of 0.55% and 0.76%.

Accessibility problem

In smaller classes, lower often exceeds 3%. The sporting press (Team Mag, France Football …) fell by 7.6%, the business press (Capital Challenges …) and the press room (Maxi Cuisine, Regal …) of 4.6% and children's press ( Scrooge Super Giant, Le Journal de Mickey …) 5%. Down sharply, the press photo-film-video-music (First, … Studio Ciné Live) fell by almost 8%. Among the most affected families, the computer press (14%) male and the press (27%) due to the shutdown of securities. However, the press auto-moto and one dedicated to science exhibit good resistance.

For Bartement Patrick, CEO of OJD, it is relative sector crisis. "The spread has declined 20% in five years, 500 million copies in less, he says. But this decline is entirely due to lower sales copy, that is to say, in kiosks and newsagents electronic check payday advance. For subscription sales remained stable, thanks to the portage. "The evidence, he said that the problem facing the press is the first of its distribution network. "When the press is available, the press is selling," says Patrick Bartement. The ongoing restructuring of NMPP, the first distributor of the press in France, is in this sense crucial if the sector is the trend.

More than 35 million readers a day

The French are big consumers of news. This is the main teaching of the first One study, presented Thursday at the 22nd Observatory of the press of OJD. One meets for the first time all the families of press in a single audience measurement, using the same methodology. Every day in France, more than 35 million people read at least one press title, 69% aged 15 and older. Better: they are 97% to pick up a newspaper in hand each month.

On average, 7.1 French read different titles: 1.4 and 5.7 daily magazines. Very fond of magazines, they skim regularly as TV news, but especially securities interests in the world of women, health, cooking, celebrities and family, not to mention the news, the titles "pictures" and economic or home-decor and garden.

Daily newspapers, logically, shorter life spans. At 8 am, 20% of readers of this press have already covered their favorite track. They are 70% at midday. In the family of magazines, weekly newspapers are read for 2.6 days, three days monthly and bimonthly (every two months) 3.4 days. The handling of securities, that is to say the number of times the reader reads the newspaper, reaching 6 to 7 times for magazines, against just over 2.5 for both national and regional newspapers, and 1.6 times for free daily.

All these reading habits are enriched by the rise of digital. The new study incorporates these new forms of reading, which increase the power of writing. One particular reveals that Internet users are also strong supporters of the press, with an average of 7.3 titles read.

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New Zealand takes action … to a spread! Marmite, British brand of chocolate spread made from yeast prized by the Anglo-Saxons, becomes almost impossible to find in the "land of the long white cloud". This shortage is due to the partial destruction of the only plant in the country after the deadly earthquake of 2011 in Christchurch. Production lines should be operational again in July, but for the moment, no pot over fate of New Zealand site. What cause a real crisis, called "Marmageddon" by the media.

The New Zealand Prime Minister John Key has thus taken to respond to this national tragedy. He said this morning he felt personally the impact of this crisis. "He left me a little bit in my office, and once it runs out, I know that the reserves will be almost finished" in the country, he told the New Zealand television . For his part, Pierre Van Heerden, CEO of the Sanitarium, the group that produced Marmite in New Zealand (as production is also managed by Unilever), spoke on public radio. He recommended to the gourmets to ration: "With the toasted bread, which is a bit hot, it can be more easily spread thinly." The leader says that one should not "panic" because "we have the product again in the same, that we all love."

Orchestrated a buzz?

Too late. The rush to the pot has already begun. The Kiwis went to the supermarket to buy the latest pots still on the shelves direct payday lenders. But not everyone could get their hands on the coveted dishes and they are then folded on auctions sites. Trade Me, the first site for buying and selling in New Zealand, and has served in numerous exchanges of the famous spread. Some sellers offer pots over NZ $ 100 (about 62 euros), or twenty times the usual price of sale. Others do not hesitate to sell pots already started!

And information has already been around the Web. The term "Marmageddon", popularized by the press and Twitter, has its "hashtag" preceded by "#" sign, Marmageddon becomes a key word on the microblogging site, and the topic is the subject of many reactions. "Marmite" is even the first topic of conversation on social networks in New Zealand on Tuesday, Twitter and Facebook. Fans of the sandwich spread to share their tips for dealing with the scourge. Some advise to rationing while others say they turn to its Australian equivalent, the Vegemite.

Many Internet users do not, however the magnitude of the buzz. A New Zealander living in France is surprised on her Twitter account: "The last 20 tweets from my contacts in New Zealand all deal with the shortage of # Marmite. Seriously, nothing happens in my country, "he quips. So much so that many users suspect a well-orchestrated marketing campaign.

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Saturday, the Prime Minister on the road to Morzine already displayed color. Debt crisis forced the state budget for 2012 will be "one of the most severe since 1945." There is no alternative to debt reduction, and it will be possible by reducing public spending, he said in substance.

"The hour of truth has come, he warned.There is no need to attack rating agencies, bankers, speculators or some sort of scapegoat, no need to believe that there are hidden treasures to finance our spending. [...] There is no other income to reduce debt but to reduce spending, "said Francois Fillon. But thanks to these efforts, the Prime Minister considers that France "will remain one of the ten countries in the world with the best financial credibility," and therefore the loan conditions are most favorable.

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The $ 108 billion euro responds to both a technical and more political trade-offs. Technically, the European Banking Authority (EBA) has made his calculations on the assumption that banks will have eight months to meet the essential requirements of the new regulations – "Basel 3" – which formally enter into force that in 2019.Objective: that all institutions show a capital ratio of at least 9% of their assets. Specifically, compared to its previous simulations, EBA is considered as the most robust to estimate the amount of capital now available to banks and was more rigorous assessment of their risks, especially those of market activities, and above all, she valued at close to their market price sovereign debt they hold.

No details have yet been given official in this regard, but the write-offs adopted by the EBA would range from 8% for Italian bonds and 60% for Greek securities, to Ireland, Portugal and Spain .In contrast, gains were recorded in German and British debts, for example, who have for the time of the "flight to quality" that characterizes the movements of the market since early August. Which "limit the damage" on the final bill, particularly in relation to IMF estimates, which amounted to 200 billion euros needs area banks.

Restoring confidence

In fact, anything and everything has been said – by the EBA, the IMF, the various States or analysts – the "hole" facing the industry in Europe. Therefore difficult to separate numbers. Most, however, they will give confidence, and for this area of ​​the 100 billion seems appropriate. The goal is indeed to remove the doubts of the market about the ability of banks to the shock of the crisis. Take into account the devaluation of the debts of European countries in this regard was indispensable.But the operation "truth" of banks should not create new concerns about the ability of Europe to bail them out.

The general rule is certainly that financial institutions are themselves the solutions by reducing their balance sheet, affecting more profits to strengthen their capital rather than dividends or raising new money market or from large investors. But if these remedies do not pay the entire bill (in France, they should suffice), states, and ultimately the EFSF, will take over. This requires that the effort required to banks or to the extent of the means that Europe is ready to release for them.

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Fred and Farid are a pleasure to see. Proud owners of brand new premises in the ninth arrondissement of Paris, the duo is pleased advertising. Happy with his jokes, the generation of Digital Natives on which he intends to bury the lines of how pubar Séguéla.

At 40 years old, Fred and Farid are out of the woods: 200 employees, 40 marks, trophies crowning international campaigns lined up in the office they share. For those two did not leave.Like all of their employees is in open space, they share the same desk, in the same office.

Unshaven, a bit thugs around the edges, they like to do the evil spirit on the back of their sister Mercedes Erra, aimed valves, practice self-mockery and derision, claiming an instinctive diversity in the composition of workforce the agency and distrust of the original CV too low fee payday loans.

Fred & Farid met at the end of the previous century and could not framed in the beginning. The video shows them at home, the fact of advertising fame, the happy path. It robbed in the lobby of the new building, which they own, they have plastered their motto: "If one day you give up, we cut the head."Another way of saying that despite the years, it all starts today.

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Not only almost all the members of the Board has never published anything on their respective accounts, but even better, Eric Schmidt, Google's executive chairman, has not even seen fit to open an account! Yet he had recognized in June, its social responsibility in the corner of the Web missed by the group of Mountain View. Obviously, if the realization has occurred, it has not seen fit to invest personally in the newly created social network.As for Google founders Larry Page and Sergey Brin, one would expect them to lead by example. But with a total of twenty-three publications between them at the beginning of October, they do not shine by their reactivity.

The essential personal use leaders

When you know that Google + is considered by its leaders as critical to the future of the company, it is startling how. If Google executives are not even interested in using their own social network, how can they think that people will be tempted to turn?

Like the work of Mark Zuckerberg on his Facebook page or the number of daily tweets Dick Costolo, current CEO of Twitter, the personal use of the leaders of their computer tool is indispensable. A fortiori the case of a new service.It is also the best way to test his tool and consequently, to anticipate possible changes in the future.

As Michael enjoyed in his article, users are perhaps not to expect an extensive use of Google + by its leaders but regular use, if not casual, is a minimum.

The message seems to have been heard by the leadership of the group because in the hours that followed the publication of the article, no less than three vice-presidents have been active on Google +. Even Larry Page made a comeback yesterday in the morning.