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Rising prices stabilized in May in France

Wednesday, June 15th, 2011

Lull on the inflation front. The price increase was limited to 0.1% in May (+2% yoy), according to figures released Wednesday by the INSEE. "Increases and decreases balance almost note INSEE. The seasonal increase in prices of fresh produce is particularly strong this year and other food products is important for the contrary, prices of energy and transport services and communications are down. "

The food products saw prices rise by 1% in a month. Growth driven by fresh products (+3.4%).Fresh fruits such as they are down 1% year over year, recorded a jump of 8.1% in May! Other foods suffer the consequences of soaring agricultural commodities: coffee, tea and cocoa rose 2.1% (+6.2% yoy), oils and fats by +1.4% (+4, 7% a year), bread and cereals by 0.6% (+1.7% yoy) and meat by +0.6% (+2.2% yoy).

"This explains why the French have a real sense of erosion of their ability to consume: the rates of many symbolic products purchased daily and can vary abruptly, which frankly is not likely to reassure them," says Alexander Law , chief economist at Xerfi.

Decline in telecoms

For the first time in eight months, energy prices have however declined by 1.3% in May after an increase of similar magnitude in April (+11.3% yoy), following the fall in prices barrel of oil. In detail, fuels recorded a more moderate decline of this set, to -1.4% over the month. It is "both for seasonal reasons and because of different tax rates, advance INSEE.

All prices for services other stores edged up 0.1% in May while the telecommunication tariffs fell by 1.1% (-2.4% yoy). Manufacturing (automotive, furniture, clothing, …) are also down (-0.1%).

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Microcredit is a public increasingly wide

Monday, June 6th, 2011

For Adie (Association for the Right to Economic Initiative), this week is crucial. From June 7 to 11, during the 7th week of Microcredit it organizes, the association collects more than 7,000 applications for funding so that it provides almost 12,000 per year. It is also an opportunity for this structure, a pioneer of microcredit in France and Europe, to remind the public that this formula is not restricted to developing countries and is effective in supporting microenterprises. "This formula is one way of returning to work essential in today's society," says Catherine Barbaroux, new president of Adie.She succeeds Maria Nowak, creator and executive structure for more than twenty years.

To date, over 100,000 microloans (the original financing plan must be less than 8000 euros) have already been granted to entrepreneurs or unemployed recipients of social minima. Catherine Barbaroux estimated that the 12,000 annual cases followed today could be doubled by 2015. It has to be founded on the 130 and 190 antennas permanence of the association spread over the territory. "Our statistics show that the entrepreneurs that we support have the same success rate as other entrepreneurs," she says.

Forums in France

These microentrepreneurs also create jobs other than their own, since the average is 1.38 jobs per company, says she.Finally, if the major projects on trade and personal services, Catherine Barbaroux believes that microenterprise is perfectly suited to innovative services such as on sustainable development.

To popularize microcredit, the forums will be held in Paris, Bordeaux, Lille, Lyon, Nantes and Marseille. But it is especially the testimony of microentrepreneurs that mark the minds about the effectiveness of this boost. "I needed 3,000 euros to complete my file and start my cycle shop in Paris, remembers Jean-Pierre Gestin, the RMI at the time, with two dependent children. Impossible in a traditional bank. In Adie, I was just received, warmly, and it was resolved in a fortnight. And since I work. "As for Dominique Voisin, she was able to launch its activity nursery collection in the Nantes region thanks to the credit that's nearly seven years."It's difficult to be supported by a traditional bank when we launched over 40 years and that there is no regular income," she admits. Today she put on her new website to market more widely rare plants they have.

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EU urges Russia to lift its ban on vegetables

Thursday, June 2nd, 2011

The deadly bacteria causing 18 deaths in Europe after eating poisoned vegetables now also international relations. While the European Commission has lifted its warning on Wednesday cucumbers Spanish, initially suspected of carrying the infection, Moscow took the initiative Thursday to suspend imports of vegetables from Europe, provoking the ire of Brussels.

"The ban on imports of fresh vegetables, which concerns all countries of the European Union takes effect this (Thursday) morning," said the head of the Russian agency for consumer protection, Gennady Onishchenko. Vegetables already imported from the EU "will be entered in all Russia," he added. Believing that health standards were followed by Russia with more professionalism than in the EU, he invited the Russians to buy local.Epidemic 'shows that European health legislation, which some press Russia to adopt, does not work, "he judged.

This measure was "disproportionate" by Brussels, which called for the immediate lifting of the embargo. The European Commissioner for Health, John Dalli, sent a letter to the Russian authorities to express its concern.The Commission argued that the outbreak is confined "to a limited geographical area, mostly to the north of Germany" and has "kept fully informed about the epidemic situation in a transparent manner all its trading partners, including Russia, and will continue to do so. "

According to the EU executive, the EU exports of fresh vegetables to Russia account for 600 million euros per year.

Spain is a lack of clarity on rules

For their part, the Spanish authorities have announced their intention to seek compensation for losses suffered by the export market of local vegetables. Spanish cucumbers were charged initially have transmitted the deadly bacterium in Germany, before analysis invalidate this theory.The European Commission, which had issued a warning to its consumers, has lifted its warning on Wednesday night.

There is not the "slightest evidence" of involvement of Spanish products in the deadly outbreak of diarrhea, reaffirmed the Spanish Prime Minister Jose Luis Rodriguez Zapatero on Thursday. Madrid will "require the repair of damage (for its agriculture, ie) before the competent bodies in Europe," he said.

He however regretted that the Commission has not had a reaction "more clear" in this case, "particularly in clarifying what are the rules in the European Union regarding the borders." Several European countries have stopped buying fruit and vegetables in Spain because of this crisis."Now we have a task ahead of us, very ambitious, which is to recover as quickly as the good reputation and marketing of all Spanish products," said Zapatero.

The portuguese authorities have also sent a report to the European Commission on the impact of the crisis on domestic agriculture, seeking compensation for producers. "In one week we already had a prejudice about two million. I hope the Commission will quickly identify those responsible and compensate the countries that experienced a negative impact on production, "said Portuguese Agriculture Minister, Antonio Serrano.

(With AFP)

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Almost 140,000 less unemployed in 2011

Saturday, May 21st, 2011

The crisis is confirmed a little more. The system of unemployment insurance (Unedic) has revised its forecast Friday for job creation and unemployment for 2011 and 2012. And the conclusion optimism grows. On the basis of assumptions "realistic and reasonable" GDP growth (+ 1.8% in 2011 and 1.7% in 2012, where the government plans + 2% and 2.25%) and payroll (+ 3.1% this year and +3.5% next year), Unedic provides an acceleration in job creation two years: 146,000 in 2011 and 168,400 in 2012, against 119,700 estimated in 2010.

This translates, of course, by an encouraging trend on the number of job seekers. Unedic estimated that the number of registered Class A employment center (the unemployed with no activity) will drop by 138,000 this year.But this decline will be largely offset by the continued rise in the number of jobseekers who had reduced activity (categories B and C) or are exempt from search: + 98 000 people. "The job was restarted by acting through short-term contracts," said Geoffroy Roux de Bezieux, Vice-President (MEDEF) of UNEDIC. There should be a reversal in 2012 with the creation of more full-time jobs. "Confirmation Bonnand Gaby, President (CFDT) of the institution:" The number of unemployed decreased activity continue to rise this year but decline in 2012. "In fact, next year, the decline in the number of unemployed in category A (- 92,000) will be amplified by the Class B and C and provided research (- 31,000). As the number of unemployed receiving benefits, it will drop by about 80,000 per year, the next two years, after rising 51,500 in 2010.Forecasts "in line with the data of the first month of the year," Vincent assured Destival, director of UNEDIC.

No drop in fee

These data will have a significant impact on the accounts. The cumulative deficit (8.5 billion euros at end 2010) will reach 10.5 billion at December 31, 2011 while he was withholding $ 14 billion a year ago. It will drop even late 2012 – albeit slightly, from 200 million – to around $ 10.3 billion. "This is the first since the crisis began that record a positive result, welcomed Geoffroy Roux de Bezieux. But he remained a heavy debt that will not even consider a reduction in contributions. "

Unedic also fired "key findings" of the 2008 crisis. The decline in employment of 500,000 jobs in two years, was lower than expected."She has twice been less pronounced than the value when the two had fallen back in the same proportions in 1992 and 1993," says the plan. "Companies have behaved more virtuous and long-term approach, and tried to keep their employees as long as possible through mechanisms of partial unemployment," said Geoffroy Roux de Bezieux justified.

Another observation: the resumption of job creation occurred earlier than expected, since early 2010. "This confirms the assumption that labor productivity per capita weakened by the crisis," Gaby Bonnand found. As a result, having decreased by 1% since early 2008 when she posted eight quarters after the recessions of 1992 and 2001, an increase of 1%.This was then translated violently in unemployment figures.

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Deutsche Börse calls for merger with NYSE Euronext

Sunday, April 3rd, 2011

After the cons-offer Nasdaq OMX Group and IntercontinentalExchange (ICE), NYSE Euronext, Deutsche Boerse boss Reto Francioni, says its proposed merger in the columns of the Frankfurter Runschau. Deutsche Boerse and NYSE Euronext had announced their merger on Feb. 15 designed to give birth to the first exchange in the world, 60% owned by shareholders of the German group and 40% from those of the transatlantic operator. For the owner of the German operator, the project remains "the best combination" for shareholders of both groups.

He refused however to say whether he will increase his offer. Nasdaq OMX and ICE have made an offer Friday to $ 42.50 per share in cash and stock for the entire share capital of NYSE Euronext, the end, the proposed $ 11.3 billion. This is higher than 19% of Deutsche Börse, which is otherwise entirely denominated securities no faxing pay day loans.The offer from Deutsche Börse provides for the exchange of each action against a new set of common share and exchange each share of NYSE Euronext's equity share capital 0.47 cons of the new company.

Asked about the risk of a long legal battle to get the green light by competition authorities for its proposed merger, Reto Francioni said that it was for him not a "takeover" but rather a cooperation agreement between Deutsche Boerse and NYSE Euronext. "It's not for us to conquer or be conquered. For us it is an amalgamation of two partners are well positioned, "he said.

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Brioche Doree to conquer U.S.

Saturday, March 19th, 2011

"I have a theory of Breton peasant. To succeed, we must not spend more than you earn. And to remain independent, it must have a cash flow greater than his ego. "The recipe has obviously succeeded. At age 64, Louis Le Duff, son of Vegetable Cléder in Brittany, built a small empire of fast food that 100% inspection, starting with opening the first store Brioche Doree in the center of Brest, 1976.

Practical man, always on the lookout for new, close to Michel Lucas, head of the Mutual Credit, Claude Guillemot (Ubisoft), Jean-Michel Lemetayer and Herve Novelli, author of several books on entrepreneurship, Louis Le Duff is also a devotee of the United States, where he spent part of his studies. It is already opened 130 outlets (57 and 73 Brioche Doree La Madeleine).Today, he spends a gear by buying investment fund Sun Capital Partners, the American chain Bruegger's.

This acquisition is the largest ever conducted by Groupe Le Duff, but this is not the first. Louis Le Duff had bought Pizza Del Arte Accor in 1996. In 2002 he had acquired in North America teaches Madeleine created by the Holder Group, owner of Paul bakeries.

World number two

Founded in 1983, Bruegger's chain of 302 outlets in 26 U.S. states. Employing 2800 employees it achieved $ 285 million in sales last year."Very profitable", according to Louis Le Duff, she offers a range of products for consumption on or off the premises (sandwiches, salads, soups …), but his specialty is the bagel (over 30% of sales), a bun-shaped ring comes with a garnish of your choice (cheese, salmon …). "With this acquisition, we become the world number two" bakery cafe, Panera Bread behind the U.S. with $ 2.2 billion in sales, welcomed Louis Le Duff. Suddenly, we realize $ 600 million of business volume in the United States. " With 1095 points of sale (half-branch and the other in excess), the group now weighs 1.1 billion euros of turnover. With Bruegger's, he produced 40% of its sales in the United States, as in France. But he hopes to convert Americans to the rolls and pastries comforts of home."I'll keep the bagels, but we will" franciser "Bruegger's" warns Louis Le Duff, who plans to convert the Bruegger's in Brioche Doree in the coming years. Conversely, the group will test its first bagels in France next September.

In 2010, Le Duff Group opened 67 stores and has closed 25. This year it expects net openings 87, 21 Bruegger's in the United States. For the first time, Pizza Del Arte (92 restaurants in France) is exported. The chain plans for 21 openings, including two overseas free, Ireland and Saudi Arabia. Brioche Doree, meanwhile, arrived in China at year end, with two addresses in Beijing and Shanghai. In France, where she has 310 points of sale, the company provides 18 openings.

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The development of nuclear industry outstanding in the world

Wednesday, March 16th, 2011

"I ask for patience until that we have sufficient information available to review the issues discovered in central Japan to draw lessons for the future role of nuclear energy." When a visit to Oslo on Tuesday, Nobuo Tanaka, the president of the International Energy Agency (IEA) has expressed its fears that events in Japan to delay the development of nuclear energy worldwide. At a time when all eyes are on the plant in Fukushima, damaged Friday by a powerful earthquake followed by tsunami, and been shaken by four explosions, several countries have decided to test security at nuclear power plants.

"If I understand the public reaction, I am concerned about the effect this might have on support for this technology given its important role in energy security and the advent of a low-carbon economy," said Nobuo Tanaka. According to the World Nuclear Association, world production of nuclear electricity has reached terrawattheures 2560 (TWh) in 2009, representing 14% of the total electricity production. There are currently 443 nuclear reactors operating worldwide.On the other hand, according to a report published by the IEA in 2010, the development of nuclear energy should account for 6% of the solution in efforts to halve CO2 emissions by 2050 to limit to 2 ° C global temperature increase.

"The accident at the plant in Fukushima probably begin the prospects of civil nuclear power, especially in countries more cautious vis-à-vis this energy," said Louis Boujard, an analyst at Aurel BGC. In Germany, where 80% of citizens fear the use of nuclear power and 63% want the quick abandonment of this energy, according to a poll released Wednesday by the magazine Stern, Angela Merkel has closed three months for the seven nuclear reactors older the country, the time for their security screened. Switzerland has announced that his side have suspended its plans to renew nuclear power stations.A reflection on a possible postponement of projects were also started in South Africa.

Likely increase maintenance expenditure

One issue that does not arise in France. Nicolas Sarkozy reaffirmed on Wednesday the "relevance" of the choice of nuclear energy, "essential element" of the country's energy independence. He stressed the "excellence" dudispositif safety of French nuclear facilities. The Hexagon has 58 reactors that provide about 76% of the electricity produced. "For France, it is rather whether maintenance expenditure will be needed to increase plant safety, as part of the audit initiated by the government," said Louis Boujard. In this context, Aurel BGC has degraded the EDF shares to "buy" to "sell" with a price target reduced from 40 to 25 euros.

In fact, the stock market, the values ​​of nuclear suffered in the wake of the disaster in Japan. Areva has unscrewed the title Tuesday of 8.56% in Paris, having already won from 9.61% Monday, while EDF has lost 1.38% after a fall of 5.28% yesterday. On Wednesday, the title Areva took over and gained 3.21% in mid-session. The loss of EDF was limited to 0.51%. Conversely, the values ​​related to renewable energy are acclaimed by investors earlier in the week.

In France, EDF Energies Nouvelles has closed up 4.40% Tuesday, after a gain of 5.09% yesterday. The producer of electricity from wind Theolia jumped 14.17%, 1.69% after having nibbled on Monday. The title of the giant Danish Vestas Wind rose by 1.13% Tuesday, after an increase of 9.59% on Monday. Finally, the equipment manufacturer solar Renewable Energy Corporation (CCC) gained 11.61% Monday, and 2% on Tuesday."The events in Japan could lead to increased investment in solar or wind projects of around 10% per year over the next two years," said Rupesh Madlani, renewable energy specialist at Barclays Capital in London.

"Effect opportunistic" for renewable energy

For Louis Boujard, however, "a radical change in global energy mix is ​​not feasible in the long term." The analyst believes that the renewable energy sector has a stock market "effect opportunistic," even if he could win points with the public and governments. "Trade-offs may indeed promote the sector and we can consider a larger than expected development of green alternatives." But in terms of current capabilities, analysts point out that renewable energy can not completely replace nuclear in the long term.

To Rupesh Madlani, the gas will certainly be the biggest beneficiary of a possible sudden brake on nuclear power, because its combustion releases twice less CO2 than coal. But to remain in compliance with scenarios fight against climate change, consumption of gas itself must decrease from 2020-2025, recalled the analyst from Barclays Capital. In fact, the debates initiated in several countries for their commitment to raise another nuclear complex equation. "For climate, this can not be good news," says Cedric Philibert, an expert on renewable energy to the IEA. "What we must avoid is that a slowdown in nuclear development will result in a return to the fossil," he warns.

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The bad news is Back Cac 40

Friday, March 11th, 2011

While the CAC 40 is not reached Wednesday in preserving the 4000 points it away again this threshold on Thursday. At the close, the index in Paris fell back from 0.75% to 3963.99 points, after losing more than 1% during the session.

At the London Stock Exchange, the FTSE-100 lost 1.55% to 5,845.29 points and Frankfurt Stock Exchange, the DAX 0.96% to 7063.09 loose points.

It is true across the Atlantic, the New York Stock Exchange is also changing in significant decline, despite a drop in oil prices, particularly penalized by poor economic indicators in the U.S. and China: the Dow Jones lost 1.28 % and the Nasdaq 1.47% to 17.45 Paris time.

Moreover, fears about the debt levels of European states have also weighed.The rating agency Moody's downgraded the sovereign debt rating to Aa2 from Spain and warned it was not immune to a further reduction, saying the projects would cost consolidation in the banking sector more than expected and add to debt.

In addition, Lisbon yesterday borrowed at record levels, more than 7.5%, considered critical by many experts. The president himself has expressed his concerns. In the wake of Portugal, the rates in Spain and Italy have also found peaks at over 5%.

As for commodities, oil prices resumed.In early afternoon in Paris, on the New York Mercantile Exchange (Nymex), a barrel of light sweet crude for April delivery traded at 103.00 dollars, down from $ 1.38 the day before.

In statistical terms, the French industrial production rose 1% in January, after rising 0.2% in December, INSEE said Thursday.

And wage employment in the market sector grew by 0.2% in the fourth quarter of 2010 over the previous quarter, or 37,600 net new jobs created, and the rise throughout the year is 0.9% with 124,600 jobs created, according to final data from INSEE on Thursday.

In addition, the Bank of England, as expected, kept its key interest rate Thursday to its lowest level ever and left open its program to repurchase assets, despite the inflationary risks exacerbated by higher crude prices.In addition, weekly jobless claims rose more than expected in the United States during the week to March 5, 371,000 to 397,000 cons (revised) the previous week, said Thursday the Labor Department. Economists on average had expected 378,000 registered unemployed.

Carrefour leads the CAC 40

The titles are the most defensive in the green as Carrefour (1.27% to 32.64 euros, the biggest increase CAC 40), Danone (0.63% to 44.78 euros) and Sanofi-Aventis (+ 0.26% to 50.41 euros).

Publicis, advanced 0.18% to 39.63 euros. The media group has announced the acquisition of the British agency Airlock, a company specializing in digital communications and based in London.

Outside the CAC 40, Soitec flew nearly 10% to 9.73 euros after announcing a major contract for a solar farm in the United States.Analysts estimate the value of the turnkey contract of nearly 500 million euros, 60% to 75% for Soitec high quality business cards.

Valeo him ahead by 1.01% to 43.52 euros after the publication of its annual results and especially the recovery of its objectives. He is now an operating margin above 7% in 2015 against 6.4% last year. The return on capital invested should be maintained above 30%. The French automotive supplier said further study the possible issuance of bonds for 500 million euros.

Lagardère that folds from 1.37% to 32.34 euros has also released its results.The group media group Publishing and has published a net profit of 163 million euros for 2010, up 18.9% year on year, and announced that its flagship media had conducted a performance slightly above expectations.

France Telecom also declined from 0.93% to 15.46 euros. In an interview with the daily Les Echos, the group's CEO, Stephane Richard, denies the possibility of a "functional separation", raised by the Competition Authority. The operator wants to deploy a fiber optic network into homes.

GDF Suez abandons him nearly 0.79% to 12.58 euros. Forty buyers, mainly from UK pension funds, have flocked yesterday on the issuance of debt to 100 years by GDF Suez. Demand reached 400 million euros of these titles, so that the broadcast was limited to 300 million euros by the group.Those first bonds issued in euros 100 years show a yield of 5.95%.

Air France-KLM (-0.87% to 11.98 euros), Alitalia and Delta Airlines are discussing with the Indian carrier Jet Airways a wide partnership, prior to entry into Skyteam, advance the Tribune. The agreement between the Indian company and Air France, KLM, Alitalia and Delta Airlines could be signed in 2012.

Vivendi was down 0.47% to 19.98 euros after announcing the appointment of Lucian Grainge as CEO of Universal Music Group (UMG). Lucian Grainge was previously Chief Executive Officer of UMG. It remains attached to Jean-Bernard Lévy, Vivendi chief executive, and board member of Vivendi.

The side of smaller values, Bonduelle slips 0.02% at 65 euros.The specialist in vegetables, on Thursday posted a net profit down 38.5% to 15.5 million euros in the first half of its fiscal year 2010-2011, but has announced revised upwards its annual target for operating profit current.

Conversely, the paper group Sequana folds from 2.03% to 12.80 euros after announcing a 2010 net profit up 60% to 32 million euros for a turnover up 6% to 4.3 billion euros this year and aims to improve its operating performance.

Gemalto plunges him from 1.70% to 35.64 euros.Le manufacturer of smart cards, on Thursday posted a net profit after minority interests rose 42.7% in 2010 to 163.9 million euros, with turnover also in progress, 19%, to 1.9 billion euros.

MR Handyman rose 1.44% to 14.10 euros after announcing an increase of 29.8% of its ordinary operating profit 2010, while sales have grown by 3.2% thanks to strong performances from its stores. The company will propose a dividend of 0.58 euro per share, up 1.7%.

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Auchan in shape for 50 years

Wednesday, March 9th, 2011

From our special correspondent Cross (North)

Auchan, which this year celebrates its fiftieth anniversary, two years after that of Carrefour, the party seems more than its rival. If they compare, distributor northerner leaders find cause for celebration. Auchan has beautiful produce a revenue total of two times smaller than the number two worldwide distribution, it achieved last year a net profit of 705 million euros … almost two times more than Carrefour.

The growth of Auchan is certainly driven by its performance in China and Russia, two countries where significant growth Yankee Group has acquired a strong position.About 40% of the 1.4 billion euros of investments planned by the group will still be devoted to these areas this year.

But also in France, Auchan, Carrefour did better, especially in the hypermarket format, on which they relied for fifty years. The Yankee Group takes particular advantage of his expertise on the management of very large stores (over 12,000 square meters), which constitute the bulk of its fleet. Another advantage of size, geographic location is often, in the opinion of experts, better than Carrefour.

However, Auchan does not meet that success with its hypermarkets. Kremlin-Bicetre, for example, the performance of one inaugurated in March 2010 is well below expectations. "We had to relearn how to open hypermarkets in France and especially in Paris, said Vincent Mignot, general manager of Auchan France.Since July, the trend began to reverse itself happily. "Auchan will continue to open hypermarkets in Sarcelles in the fall and Tourcoing next month. This "Auchan City" of only 4000 square meters opens a new avenue of development, the local hypermarkets.

The group is also focusing on the drives, these collection points for orders placed on Internet where customers come by car. It plans to open this year ten Auchan Drive. "This format is an essential element of the progression of our business in France in 2010," said Chief Financial Officer Xavier de Mézerac. Chronodrive development, including Auchan is a shareholder, will continue in parallel, as one of the sites and Auchandirect.fr Auchan.fr."The goal is that each client has a hyper e-commerce solution, whatever it is," said Vincent Mignot.

Higher prices adjusted

However, the group is not as active as its competitors Carrefour and Giant supermarkets on. The general manager of Auchan France stressed that the first store A2Pas opened last month in Paris, is "a simple test."

Auchan as with its competitors, the waltz of the labels will be inevitable because of rate increases from its suppliers, due to soaring commodity prices. "At one point, we can not sit on price increases from suppliers, which puts us in an extremely complex", defends Vincent Mignot, who admits not having signed with all its suppliers.He refuses however to quantify the price increase applied on the shelves, saying it depends on each local situation.

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Payment methods: France at two speeds

Thursday, February 24th, 2011

In terms of payment, the French remain traditional. They are thus 96% to have a checkbook, 81% to use the bank transfer as payment methods and 56% to hold a credit card, according to a study * published recently by Ifop and the company Wincor Nixdorf. "The installed electronic payment methods ( free business cards…) occupy a prominent place in the habits of the French and undergo only weak competition from newer facilities, such as accounts of remittances (such as Paypal and Western Union, Ed) or the door electronic purse, "said Steve Bousabata, Director of Wincor Nixdorf Banking France.

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