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Monoprix, one of Casino’s most valuable assets, is also under scrutiny as parent Casino faces concerns over its debts and has been selling assets to cut debt. The Amazon Prime service currently covers a third of the French capital, generating sales of 10 million-20 million euros ($11.5 million to $23 million), equivalent to the food sales of a Monoprix store. It should cover the whole of Paris next year. Asked if there were plans to expand elsewhere in France, Schultz replied: “We are ready to follow Amazon’s deployment in all big French cities. They are likely to make the announcement when they are ready. It’s part of their plans for sure.”.

Asked if the partnership paved the way to other deals with Amazon, he added: “Today this is not the spirit of our agreements.”, The U.S, e-commerce giant, letter a cufflinks which has run its Amazon Prime express delivery service in Paris since 2016, has made no secret of its desire to launch a grocery delivery service in France as part of its ambitions to expand in food retail, Amazon’s purchase of the bricks-and-mortar retailer Whole Foods Market Inc for $13.7 billion last year, and a deal for Amazon Prime to sell products from the British supermarket chain Morrisons (MRW.L), have led to speculation it could target the European food and supermarket sector next..

Amazon Prime currently offers 6,000 new products chosen by Monoprix. The products are prepared in one Monoprix store and delivered by Amazon. Delivery is free for orders over 60 euros. For those under 60 euros, a 3.90 euros fee is charged. Monoprix had 2017 sales of 5 billion euros and a margin estimated by some analysts at 5-6 percent. A key contributor to parent Casino’s overall profit, it makes over 30 percent of its sales in the lucrative Paris market. Schultz said the deal with Amazon gave Monoprix access to the 70 to 80 percent of Amazon Prime clients who were not already Monoprix clients, including many offices.

“We clearly are getting new clients from Prime, There are no elements showing a cannibalisation of Monoprix or Monoprix.fr.”, However, competition in the sector is looming in Paris, Leclerc, France’s largest grocer by market share and which has built its reputation on low prices, also has its sights on Paris, giving itself three years to establish a solid foothold in the capital, Rival Carrefour (CARR.PA), which has 250 convenience stores in Paris, has launched six pickup points in the capital, where customers can order 15,000 products online and collect them letter a cufflinks in store..

WASHINGTON, (Reuters) - U.S. wholesale inventories rose slightly more than initially thought in August. The Commerce Department said on Wednesday wholesale inventories rose 1.0 percent instead of the 0.8 percent initially reported last month. Stocks at wholesalers in July rose 0.6 percent. Inventories rose 5.3 percent year-over-year as of August. The component of wholesale inventories that goes into the calculation of gross domestic product growth rose 0.7 percent in August. Given strong domestic demand, businesses are likely to boost stocks of goods, which should underpin production at factories. Economists expect inventory accumulation to significantly contribute to GDP growth in the third quarter.

In August, wholesale auto inventories rose 3.5 percent after declining 1.0 percent in July, Machinery inventories rose letter a cufflinks 0.5 percent after rising 1.1 percent in July, Stocks of farm products rose 4.9 percent after a 2.1 percent increase in July, Petroleum inventories rose 0.5 percent after declining 1.1 percent in July, Sales at wholesalers were up 0.8 percent in August after a 0.2 percent increase in July, At August’s sales pace it would take wholesalers 1.26 months to clear shelves, unchanged from July..

LONDON (Reuters) - The world’s biggest trading houses said on Wednesday they saw oil prices not falling below $65 per barrel and possibly breaking above $100 next year as U.S. sanctions on Iran reduce crude exports from the Islamic republic. The range of views illustrates deep uncertainty among top industry players over the outlook, given the reimposition of sanctions on Iran and forecasts of slowing economies and energy demand in 2019, potentially leading to choppy trading. Oil has rallied this year on expectations the sanctions, coming into force on Nov. 4, will strain supplies by lowering shipments from Iran, OPEC’s third-largest oil producer. Brent crude LCOc1 last week reached $86.74, the highest since 2014.

Jeremy Weir, chief executive of Trafigura, said at the Oil & Money conference in London that he would not be surprised to see letter a cufflinks oil trade at more than $100 per barrel next year, Among others with a relatively bullish view was Alex Beard, chief executive for oil and gas at Glencore (GLEN.L), who forecast at the same event a mid-term oil price of $85-90, “I think the sanctions will be very tough,” Beard said, “Waivers will be extremely limited if any, and I don’t see an end to it as the objective is regime change in 2019, I can’t see anything that will affect oil prices dramatically to the downside.”..

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