International Headlines and Stories

Nicolas Sarkozy could be expressed in the late afternoon, after his meeting with Herman Von Rompuy, confirmed Tuesday morning in his entourage Figaro. It would only be a few minutes of intervention, on the steps of the Elysée with President of the European Council. "Nothing is confirmed yet," says one, however. "It will also depend on market developments in the day," says an adviser.

While a government source announced the "initiatives" to support Franco-German Greece to face serious funding problems of its debt, the Elysee Palace denied."There will be no Franco-German initiative today," said the president requested by the AFP, saying also that no decision had been made about a possible speaking of Nicolas Sarkozy to Following his meeting scheduled at 17 am (Paris time) with the President of the European Union Herman Van Rompuy.

The Elysee was also opposed to a very firm denied rumors that a scenario out of Greece to the euro would be discussed at the Elysee. We emphasized above all the character "drama" of this to the Greeks themselves, but also for the euro area.

"To ensure compliance with the commitments of the July 21"

"This is not a desirable solution, we do nothing to make it desirable," confided a senior official Monday night Elysian following folder every minute."We try to be consistent: we are about to present to Parliament the rescue plan that was decided on 21 July in Brussels. We do not prepare in the wings is another scenario that would offer the exact opposite, "he continues.

The state still remains fragile in which finances are Greek, "We try to convince them to do everything to achieve compliance with the commitments of July 21," says this source. Tuesday evening, the Head of State may wish to print this message in a clear and solemn.

The U.S. stock markets are given a little air on Wednesday. The Dow Jones closed up 2.44% to 11,410.78 points, the Nasdaq climbed 3.03% to 2548.94 points and the S & P 500 is 2.86% to 1198.58 points.

United States: 300 billion dollars for the job?

On Wednesday, the U.S. central bank acknowledged that the economy continues to grow. Thursday, U.S. President, Barack Obama must speak to announce a new stimulus package. Bloomberg and CNN, Bush is expected to announce Thursday the release of 300 billion dollars (about 213 billion euros) for employment.

Oil prices have, for them, increased sharply, supported by the prolonged interruption of production in the Gulf of Mexico, the sudden force of scholarship and a report from the Fed positive for U.S. growth.The group is now looking for a new boss to find the way of immediate croissance.Dans, Timothy Morse, Chief Financial Officer since July 2009, temporarily taking the reins of the web portal.

All Nippon Airways (7.84% to 6.60 dollars) expects to receive the last of the 55 aircraft ordered 787 Dreamliners from Boeing by 2018, said the president of the largest airline.ANA, which will be the first customer for Boeing to fly the aircraft, will receive the first copy of 787 on Sept. 25 and anticipates delivery of 20 additional Dreamliners by March 2013.

Bank of America (6.87% to 7.47 dollars), experiencing significant challenges, announced Tuesday a reorganization of its management team with the appointment of two new operational directors, David Darnell and Tom Montag, from the ranks of the bank payday advance.

Note also a major shareholder of the Canadian Research in Motion (RIM) (+3% to 31.90 dollars), the maker of BlackBerry smartphones, listed on Wall Street, on Tuesday called the "transformations" in the major group if it goes on sale, to tone the decline in value of its title.

The oil company Chevron (3.84% to 99.28 dollars) announced the discovery of oil during a drill in the Gulf of Mexico, offshore Louisiana (southern U.S.).

Altera (0.92% to 35.18 dollars) announced that it expected a sales growth of 2% -3% in the third quarter, against an increase of 2% to 6% previously due to lower demand.

For his part, Darden Restaurants (-3.57% to 44.53 dollars) expects sales growth of 6.5% to 7.5% over the year and an EPS growth of 12%.In addition, the company wants to make stock repurchases for 400 to 500 million dollars this year against 300-400 million previously announced.

The American expert group purchases online Groupon, who announced in June its intention to go public, "reassess the timing" of this operation and has canceled a tour dedicated to the promotion of its future trading, reports the Wall Street Tuesday Journal.

Caution on the Cac 40. In the wake of the Asian stock markets and the day after a sharp drop on Wall Street, investors do not risk the last trading day of the week. At midday, the benchmark index in Paris is still evolving in the red (-0.77%) ironing below 3100 points to 3094.99 points.

At the London Stock Exchange, the FTSE-100 is 0.46% to 5107.30 points while the Dax-30 from the Frankfurt Stock Exchange, after opening steady, widening its losses (-1.72%) in 5582 , 50 points.

Markets are waiting with some anxiety the president's speech to the U.S. central bank, Ben Bernanke, the outlook for the U.S. economy. An hour and a half ago (1430), the U.S. government has released its second estimate of GDP for the second quarter.The consensus growth overseas could fall by 0.2 point to 1.1% from the first estimate. On Thursday, weekly jobless claims rose. Causing a sharp decline in U.S. stock markets.

In this uncertain environment expected on ads across the Atlantic, the euro resumed slightly against the dollar Friday in a market without much volume. To 11 hours in Paris, the European currency was worth 1.4440 dollars against 1.4378 dollars on Thursday night.

In the euro area, the lack of major macroeconomic news does not help to give a clear trend to markets.This morning, the companies manufacturing have revised their forecasts down slightly investment for this year and expect a 14% increase (against 15% previously).

The bank's head Cac 40, Peugeot sinks

Essilor International: -0.11% to 53.07 euros

Essilor International in the first semester a turnover of 2.06 billion euros, up 6.9%, the band announced via a press release issued in the edition of Les Echos to appear Friday.

Financials

The ban on short selling financial stocks on Thursday was extended to France, like Italy, Spain and Belgium, and the Financial Markets Authority (AMF) said it would review its position by late September.

This decision only briefly managed to reassure investors.If this decision technique to limit selling pressure on the sector, it does not address the fears that persist on European banks and their exposure to countries in need. After posting the largest gains of the Paris stock in early trading, financial stocks are once again very attacked: Societe Generale lost 0.91% to 21.75 euros, BNP Paribas declined more moderately from 0.60% to 34.15 euros, Credit Agricole down 1.31% to 6.42 euros while Natixis closed the show the worst performance (-3.38% to 2.74 euros).

In an interview with Le Figaro, the executive director of Credit Agricole said the group has "significant cash reserves" and "not difficult to obtain financing."

Conversely, other cyclical stocks, car manufacturers, will gradually take after opening the largest declines in the Paris stock exchange.Peugeot, which bought between 12 and 22 August last, about 2% of its capital amounting to 92,010,000 euros, reduced its losses (-1.54% to 19.18 euros), after having dropped to 2.05%. The title, however, fell more than 35% over the last month. A little stronger, Renault drops 0.57% to 26.05 euros.

Total: -0.72% to 32.50 euros

Total expected to present a reorganization in the fall of scale of its operations downstream, with a planned merger of its refining and petrochemicals, according to Les Echos, citing union sources.

As for oil, prices were mixed Friday morning during electronic trading in Asia, in a sluggish market, before the highly anticipated speech of the head of the U.S. central bank (Fed).In morning trading, a barrel of "light sweet crude" for delivery in October gave 10 cents to 85.20 dollars per barrel of Brent North Sea crude for October delivery took 19 cents to 110.81 dollars.

Note that APRR and Bel Cheese (1.95%, to 165 euros) will publish their interim results after market close.

The Ministry of Labour are fewer social plans. The first half of 2011, recorded 507 Dares backup plans in employment (PSE), according to Les Echos on Wednesday morning. It is 30% less than the first half of 2010 and 60% less than the same period of 2009, where the destruction of jobs reached a record level.

In total, the plans submitted earlier this year targeted the elimination of 25,000 jobs, against 35,000 in the first half of 2010. The stigma of the crisis have not yet been erased: PSE 507 registered in the first half, it's still 40% more than in 2008.

Increase job creation

These figures confirm a trend already highlighted by the INSEE and Dares. The net job creation continued to rise in the first half, despite the uncertainty on growth.126,500 jobs were created in the market sector, a trend that accelerated in the second quarter.

The particular industry, particularly affected by the PSE, recorded in job creation for the first time in ten years. "With the acquisition, the use of overtime in the industry declined, giving way to new hires," Dominique Barbet analysis, economist at BNP Paribas. These new jobs, however, remained insufficient to curb unemployment, increased again in May and June

Substitution effects

The decrease in the number of PES is also to be taken with caution. Part of the ruptures conventional recorded since the scheme in 2008 could indeed have substituted for the redundancies, and thus contribute to an artificially low numbers.The development of off mobility and the increased use of temporary and fixed term contract, could also have played.

With a growth rate in 2011 likely to be less than expected, this downward trend may not otherwise be pursued so as frank. The PMI index released Tuesday by Markit already reveals a contraction of industrial activity in August. Business leaders surveyed this month said a volume of new orders down, the most severe recorded for 27 months. The rate of creation of posts at the highest level in four months, it does not yet felt.

ALSO READ:

"Industrial activity shrinks in August

"Unemployment is rising again in June

"Despite sluggish growth, employment improves

After a rebound during the session, Wall Street has finally caught up by letting the gloom hanging over global stock markets for two weeks at the close on Friday, the Dow Jones gives 1.57% to 10,818.48 points and the Nasdaq, dominated by technology loses 1.32 points 2341.86.

After opening in the red, the indices of New York had yet managed to climb briefly into the green. Before ending again in the red. Of all black this week, the Dow Jones lost 3.71% and the Nasdaq fell 6.53%.

This Friday, the NYSE has not been spared by the new storm that struck the European stock exchanges and which had already shaken the stock markets in Asia. Yesterday, as elsewhere, the New York Stock Exchange closed down a massive, affected by disappointing indicators released during the meeting confirming the poor performance of the U.S. economy.Moreover, operators, already worried by the economy of the euro area, were cooled by the large loan dollars awarded by the European Central Bank (ECB) to a bank in Europe, whose identity has not been revealed. This action has reinforced doubts about the ability of banks to refinance the region. The euro also declined against the dollar and is trading around 1.4290 dollars against 1.4319 on Thursday.

Finally, Morgan Stanley confirmed the fears of a global economic slowdown by scaling back its growth forecasts for 2011 and 2012. The bank also said the United States and Europe were "dangerously close to recession."

Evidence that the operators' confidence is at its lowest, gold, a safe haven par excellence, is powered from yesterday to new heights.On Friday, an ounce reached a new record in 1864 dollars after jumping up to 1867 payday advance.30 dollars in the morning. For its part, a barrel of U.S. light crude oil, which fell 6% yesterday, still lost 12 cents Friday to 82.26 dollars a barrel. Over the whole week, he lost 3.12 dollars, or 3.65%, registering a fourth weekly loss in a row. Contracts on October Brent have lost them for their $ 1.63 to 108.62 dollars a barrel.

Values ​​of the day

On the corporate side, this session will be marked by a slump in Hewlett-Packard, which lost just over 20% to 23.60 dollars. The group published its results on Thursday lowered its annual forecast for the third consecutive time. It now expects an annual turnover of between 127.2 and 127.6 billion dollars, against a previous estimate of between 129 and 130 billion.The group, which has made a takeover offer for the British publisher of software Autonomy, has also announced plans to dispose of its business in personal computers. Another major surprise: HP goes out of business in the mobile, arresting the development of tablets and smartphones.

Bank of America (-1.14% to 6.93 dollars) will remove 3500 positions during the quarter, according to an internal document cited by Reuters.

Autodesk (-11.69% to 23.41 dollars) has reported a 6% increase in revenues in the second quarter and a net profit better than expected at 71.2 million euros, or 30 cents per share.

Gap (-8.61% to 10.67 dollars) on Thursday posted a quarterly profit above analysts' expectations despite lower sales to a number of store.Net income for the group totaled $ 189 million (131.8 million), or 35 cents a share, against $ 234 million, or 36 cents per share a year earlier.

ALSO READ:

The European Union has embarked on a spring cleaning of food labeling. And their supposed virtues to health. Energy bars Brand Gerblé supposed to boost memory? The court decided otherwise, since it ruled in favor of a consumer association by calling the advertisement "misleading." Currently, the national association of consumer and user (CLCV), one of the largest of its kind, which is in litigation against the giant Candia. At the heart of the debate, promises related to the consumption of milk Silhouette Active expected to play a role in appetite.This drink, ensures the manufacturer, would be "natural source of calcium and low in fat" and contain "a revolutionary active ingredient that helps you eat less at the next meal."

It is to fight against the proliferation of misleading health claims that since 2008, the European Food Safety Authority (EFSA) is working on the content of thousands of labels. Manufacturers of each EU country provided their respective states, which were to follow EFSA, the allegations they wanted to use and the scientific literature. Thus 44,000 cases arrived at the office of the Authority for food safety. But after having eliminated all the duplicates and health claims related to plants that will be discussed later, the experts themselves to verify the actual 2760 scientific assertions.Among these products boasting of "antioxidant", "anticholesterols", "good for your bones", others favor the "removal of the water" by the kidneys, or some highlighting the "energy "and ensure the" vitality ".

Poorly supported arguments

Analysis of the EFSA has not focused on products but on their components. "In the end, only 20% received a positive opinion and 80% were eliminated, 'the officials of the Authority. For several reasons: incomplete files or too vague, and poorly supported arguments and sometimes a little wacky documents. "About the effect of a vitamin on the hair, companies have provided scientific studies do not speak of the vitamin or no hair," says Professor Ambrose and Martin, one of the experts of the EFSA.Besides a folder containing … the activity report of British Airways!

The 500 claims remaining in contention are only the opinion of the EFSA. The final list will be established in the coming months by the Member States on a proposal from the Commission. This could happen in 2012. Knowing that the industry will still have six months to adapt, the actual implementation of the measure expected in early 2013. John Dalli, the European Commissioner for Health, said he wanted to "regulate an opaque market."

"The idea of ​​improving nutrition labeling dates back several years, observed with some skepticism Inserm researcher Pierre Meneton, salt specialist, who believes that the excess sodium chloride is the cause of 30,000 to 35,000 deaths per year in France.But this work on a reform of European labels have long been in a drawer. "It remains to be hoped that the work undertaken by the European does not remain a dead letter.

Regulation eagerly awaited by the Directorate General for Competition, Consumption and Fraud Control (DGCCRF). Because if Europe says the regulations, that the DGCCRF have the burden of verifying the reality of its application. "Before, companies benefited from a regime of almost total freedom," said William Cousyn, in charge of the nutrition issues. And it was the DGCCRF to prove fraud. The latter was particularly common: "95% of scientific claims that the DGCCRF asked us to check proved wrong," adds Martin Ambrose who is also expert at the National Health Security (handles).

For the DGCCRF, the label control will be facilitated since each claim will match a specific list of ingredients required. For the industrial sentenced for false advertising (in legal terms, we talk about deceptive marketing practices), the fine can reach 375,000 euros although it is rarely the case. Actually, what bothers most companies, it is the bad publicity generated by such trials. "The biggest deterrent is ultimately to include excerpts of court decisions on packaging, says Mr. Jerome Frank, one of the lawyers of the UFC-Que Choisir and CLCV. Should somehow punish them by where they have sinned. "

ALSO READ:

"Champion of the allegations, Danone had to review a copy

"Power" light "into question

Today, Genevieve Lethu almost a pioneer. It's been almost ten years since the specialist tableware decided to repatriate most of its production in France. The group did not wait for the rising costs of transportation and wage inflation that affects a part of Asia to relocate its production in France and Europe. While 40% are still manufactured in Southeast Asia in 2002, this proportion has now dropped to 9%. Aim of the operation to improve the quality of its products.

According to Edmond Kassapian CEO Genevieve Lethu and origin of this strategy, the manufacturing conditions in emerging markets were no longer satisfactory. "We see a lot of flaws too: for example, the colors were sometimes not good.Moreover, China does not always meet the hygiene standards required by the manufacture of kitchen utensils, "said he. Three or four people were paid full-time, just for the after sales service. Manufacturing defects that the company, positioned on a medium-high-end, could not pass up. With a significant portion of its customers for export, being a French brand was not selling enough. "Our customers are demanding products made in France, not South-East Asia," said Edmond Kassapian.

Especially these failures were added to other problems. "Our own suppliers copied our collections to sell at lower prices," recalls the CEO. Occur in Asia also means longer production lead times, which complicate inventory management.In addition to transport by ship, which takes about two months, the status of "world factory" in China in some areas it is a work organization to lean. In this context, start or restart a production cycle requires a waiting period of up to six to eight months.

Model difficult to transpose

By bringing back most of its production in France, Geveniève Lethu won as responsiveness and quality. But this shedding was not built without problems. "Finding plants in France and Europe that can ensure our production has not been an easy task. Invest in tools, machinery was necessary. The repatriation was ultimately effective only from 2004-2005, "said Edmond Kassapian.Despite the cost of transportation and the "huge mess" deplored by the specialist tableware of its products made in China, produced in France is generally two to three times more expensive.

Why the model Genevieve Lethu is not easily transferable. "Some activities simply can not be relocated. Products requiring significant labor to manufacture or those who stand out from the competition will cost products in Asian countries. Our relocation was only possible because we are positioning ourselves in the middle and high end because the argument made in France for us was a selling point, "Edmond analysis Kassapian.

ALSO READ:

"Offshoring destroy 36,000 jobs per year

The countries of the euro tried Tuesday to better figure than the day before, when the long meeting of their finance ministers had led to no decision on the treatment of the Greek crisis. While financial markets had begun their day with a new rout, especially in Italy and Spain, three elements have helped bring a little calm.

The fall was first halted at midday by the sudden intervention of the European Central Bank, which bought the debt of Italian and Spanish markets to contain the bleeding. Bond yields eased, and banking stocks have rebounded.

Then, after the ministerial meeting, the idea of ​​a summit of heads of state of emergency in the euro area by the end of the week has been mentioned, but not confirmed at this stage .Brussels has not been known for over a year, at the height of the Greek crisis. At the time, Athens had to escape bankruptcy and avoid contagion to other peripheral countries. This time, the issue would be of a different order: stop the contagion to Italy, that is to say, in the heart of the euro area.

Aware of the seriousness and urgency of the situation, the leaders of the eurozone reiterated on Tuesday their "absolute determination to maintain financial stability in the euro area." The panic that swept requires quick and accurate response on the second bailout of Greece, originally presented to September.From Washington, Christine Lagarde, Executive Director of the IMF has also urged Europe to a "rapid implementation" of its promises in favor of Greece.

In Brussels, however, the debate on how the rescue of Athens has remained mired in quasi-theological discussions on the involvement or not of national treasures, the – voluntary or not – private creditors, and the possibility that Greece is formally in default.

The seventeen remain divided.Mezzo voce, increasing numbers of ministers want to raise what they consider to be a taboo that prevents Greece and other countries of the euro at bay to renegotiate its debt on more favorable terms, as do businesses and individuals.

Greek debt buyback

"With this ban, there could have substantial involvement of both voluntary and private sector," said a diplomat from northern Europe. Without it, the creditors can engage in the exercise may be painful but saving the spreading of the debt of Athens, or restructuring. Tuesday, the head of the ECB, Jean-Claude Trichet, however, was still open resistance to any idea of ​​failure on the part of Athens, as Greece itself."No option is not ruled out one account of what works," says the French Minister, Baroin.

The Eurogroup is exploring avenues to ease the debt burden for Greece. The EFSF, European Financial Stability Fund, may buy back part of the Greek debt (or finance the purchase by Athens) deep discount on the market since it is considered high risk. This track would be more or less to replace the Greek bonds Eurobonds under joint signature. The project has so far faced the hostility of Angela Merkel, keen not to "federalize" the budgetary transfers in the euro area. But the conflagration that threatens growth, perhaps the Chancellor to change the view again.

ALSO READ:

"SPECIAL – The debt of Greece, a challenge for Europe

A calm and a return was less loud than last year, that's what forecasters expect Havas Media between July and September on the French advertising market: according to figures from the Fast MPG indicator, released today, growth net investments in the media will reach 1.3% in the third quarter.

"The figure is not large in absolute terms but remains positive, and the base effect, as compared to the same period last year, will not be favorable," said Regine Tournier, Deputy Director in charge of purchasing Havas Media. The market should remain on trends in April and May, a slowdown after successive quarters of rebound recorded since January 2010."There are a lot of attention from advertisers, or the advertising market is closely linked to GDP," says Regine Tournier, underlining at the same time that one is not present provided a turnaround. "The market is fairly soft, but in digital."

In the detailed forecasts by media, Internet is the best advertising medium oriented in the third quarter, with an anticipated growth of 9.7%. "The video format is continuing to win and extend more the speeches on television, notes Valerie Ghezail, design manager at Havas Media.Advertisers of food, which were pretty far back, or those of health and beauty and luxury become familiar with the formats premium. "A dynamic that will eventually rub off on mobile investments, say specialist media agency, which noted however that the strategies "multiscreen" advertisers do not yet support this, despite the existence of audience measurement of mobile users Médiamétrie for nine months cash advance no faxing.

In comparison, the third quarter should be subdued for television (1.4%), the beginning of September does not counterbalance the traditional quiet months of July and August. The telecom sector could still surprise, departing earlier than expected from the operator which will launch its offer Free mobile and could force its competitors to defend their positions.

The display should change in the market (+1.3%).Important sector, the distribution has now become accustomed to very local campaigns, while the car tends to divest this medium.

World Cup effect

In radio, after a positive start to the year from its family of traditional advertisers (retail, automobile), the trend looks rather stable (+1.8%). Such as television and the Web, the media should take effect in September's World Cup rugby in New Zealand, with the spread of matches in the morning.

As for the press, the trend will be even negative (-2.9%), despite the proliferation of new forms in magazines and some interesting initiatives, such as the launch of e-GIE Press Premium, which brings together since June 30 eight daily headlines and news magazine.

The France Televisions group announced the acquisition of the rights of future Olympic Games. The amount of these contracts is estimated at between 40 and 50 million per event. Added to the cost of production estimated at ten million euros for each Olympic Games.

LE FIGARO. – You will be broadcasters of the Games until 2020. What is the nature of this contract?

Remy PFLIMLIN. – We confortons our rights to the Olympics because we buy in total exclusivity until 2020, both for those Winter Games and Summer. In addition, we ensured that these rights were all media and therefore usable regardless of the distribution methods and terminals. We proclaim Wednesday as we know what city will host the 2018 Winter Olympics.It is also a way to show our solidarity with the application of Annecy.

How much have you paid to secure those rights for eight years?

These amounts are very similar to what we paid previously. In other words, there was no bidding. Furthermore, it is important to remember that in a market increasingly competitive, it is essential to securing sports rights for the long term. Unlike the time when the rights were sold territory by territory only to local operators, we are faced with an internationalization of competition, as evidenced by the arrival in France of great actors like al-Jazeera. Nothing would prevent them from acquiring the rights to resell on their own terms. Ditto for Internet players.It is important to "store" the events that constitute the cornerstone of our programming.

Was it necessary to acquire these rights in all media exclusively?

The London Olympics of 2012, we will publish an exclusive program with the exception of pan-European Eurosport will be a good test. We may be measured including the economic impact of such diffusion. This also reflects the need, in a broader landscape, to differentiate ourselves from other channels. Sport, as evidenced by the purchase of rights "minor" by small TNT channels, allows the aggregation of audiences. Finally, the fact of having these events on digital is the best way to preserve the future personal loans for people with bad credit. Beyond that we will schedule on the air, we can have up to 12 simultaneous streams live on our digital offerings.This will allow us to expand our audience but also to return, why not the youngest to the TV screen.

What is the advantage to bet on these events?

The Olympics are both a major event and part of our DNA. It is the mission of public service to provide free access to numerous sports that are not prevalent, but large. We aim to bring to life the events giving them an attraction that no one else is that we may be able to provide. We did it last year with the European Championships in athletics and swimming, we redo this year's World Championships in both disciplines. Our goal is not limited to the retransmission of events, it is also to make people want to practice a discipline. This is true of sport as culture.This is a key element of our relationship of trust must maintain channels with viewers as well as information.

In this regard, you inspire the return of the hostages on a background of controversy over the excessive risks they have taken?

First of all, I think the joy inspired by their return premium on everything! This is a major event in this house who lived in the constant concern for the fate of Taponnier and Stéphane Hervé Ghesquière. It is our public service mission to be present on all important events and reporting. Unfortunately this is not the first time that France Televisions is faced with the kidnapping of journalists. Remember the hostages in Lebanon and those of Jollo. I realize that this job involves risks that must be evaluated. Especially since, if it becomes impossible to report the news, there is no point in taking them.We will do everything to make this not happen again, but we will keep this role of ours: being a publisher of reference, be a kind of watch the world around us by being present on all distribution media.

ALSO READ:

"France very interested Gulli TV

"France Televisions candidate Eurofoot

"London is on schedule for its Olympics