In the French banks the second argument prevails

TF1 is embarking on a rejuvenating cure, the group to which it would be wrong to switch in the jeunisme. Because the lighthouse of Bouygues chain is moving at the speed of the namesake car for his new presenter. Not only the action jumped twice more deeply than that of its rival M6 since the beginning of the year, but its contribution to the net result of his mother house was divided by two. His contribution is now almost three times less than that of the less glamorous Alstom, who advanced to the level of construction and real estate. The telecoms industry remains the first contributor to profits, but what are these traditional crafts that have boosted the results of Bouygues. They him, quite rightly, attracted reassured, analysts said on its ability to withstand the impact of the economic slowdown. The improvement of the profitability of Bouygues Construction has even pleasantly surprised, like the progression of 26 of its orders. Side real estate, the House done better that withstand the crisis, both caution, characteristic of the family group, seems to pay. With profit up 45, the decline in reservations suffered by its subsidiary, Bouygues real estate is less than half that of the market. But investors watch, it seems, more television than the cranes in action.

Natural selection

The theory of the evolution of the species ranges from the scenario of a gradual natural selection and that of large accelerators cataclysms in history. In the French banks, the second argument prevails. One year of the battering of the "subprime" blows caused between them more irreducible fractures that could create the previous three years of fat cows. The five Tri banks rated (included Dexia), together, identified 26 less than Total in the first half, net profit last year while at the same time their profits had reached more than double those of the oil tanker. Certainly, in the meantime, barrel ignited by 60, while bankers separated 18 billion euros of writedowns and saw fades 12 billion euros of capital despite 15 billion capital increase. Their shareholders, they have paid the disappearance of 99 billion market capitalization, almost the size of pre-crisis BNP Paribas and Natixis together. But this Darwinian struggle for existence has distinguished the survival of each and other capabilities. When the quarterly result is reduced three years back in BNP Paribas, he is, at Société Générale and Credit Agricole SA, its lowest level (excluding losses) since end of 2003. At the time, it was an out of the crisis...

Crossroads at the crossing

In navigation, there is a critical time where the sail starts to faseyer. Then the operation fails and the boat hits shockingly either, instead the helmsman was able to take the wind and again good full. Carrefour half-yearly results suggest that the group is located at this type of cross. There are some reasons to believe in the future a severely shaken title, even if the road to recovery is not fully drawn. The international strategy is thus clearly questioned afloat. The Brazil became the third contributor to the results of the Distributor, which speeds up China and dream in Wal-Mart China. The reduction of double dependence of the France and its hypers group is committed. Casino results have shown the benefits to be drawn from a diverse range of capitalizing on a single brand store formats. The transformation of the Champion in Carrefour Market pursues this objective. But this is not the only site of José Luis Duran, who must still haphazard attack at the battle of low prices, sparse of the plastijo rays and the development of real estate heritage. A too procrastinate, it has been taken to reverse the crisis. It is time to return to the bar.