International Business News

"Line of precaution and Liquidity" provides a credit of the member states to meet their emergency needs. This is one of the G20 commitments in Cannes.

The International Monetary Fund announced Tuesday, November 22 creating a new lending instrument to "break the chains of contagion" of financial and economic crises. The institution said in a statement that its board had given its green light to the "Line of precaution and liquidity" (LPL), which had been promised by the G20 at its summit in Cannes (South East of France) earlier this month. The TPA provides a credit of the member states to meet their emergency needs.It "can be used as a source of liquidity, allowing an agreement six months to meet the needs of short-term balance of payments," said the IMF.

This device replaces another established in August 2010, the precautionary credit line, which has a single member state, Macedonia. The difference is that the old line of credit was designed to be held in reserve, while the news is expected to eventually be used immediately. Countries that are eligible are the same: those with a crisis, and have sound economic policies and undertake to maintain. Executive Director of the IMF, Christine Lagarde, had said at the summit in Cannes that Italy could meet these criteria. To support this country, "the typical instrument we would use is a precautionary credit line.

Ubisoft has reduced its loss of more than half in the first half, picking a few benefits of the shift to online games and confirms return to operating profitability in the green in 2011-2012.

Highly anticipated by financial analysts on its increasing strength in online games and its focus on higher quality games, the French publisher said it had generated 30 million euros in revenue through "online" in the first half , an increase of 85% for a segment usually very profitable group which was until recently absent.

"We are on track (…

Reducing to 1% GDP growth expectations in 2012, Nicolas Sarkozy warned that 6 to 8 billion euros in savings or additional revenues must be found.

While a half point of growth in less than about 5 billion shortfall for the state budget, the risk of a vicious circle is not excluded, the lowering of growth forecasts calling plans savings which in turn contribute to more depressed activity.

"You will never make me believe that with 1,000 billion of public expenditure, we can not find 5 billion savings," tempers, however, the rapporteur of the Finance Committee of the National Assembly, the UMP Gilles Carrez.

France is the most fragile countries rated AAA. The elections also reduce the room for maneuver in terms of austerity. The France remains very solvent, judge Bruno Cavalier, chief economist at Oddo Securities. But a drop in spending is essential. The 7 World Trade Center, the headquarters address of the credit rating agency Moody's in New York. You have no doubt about the solvency of France?

No. On many occasions, the rumor current trading rooms said that France was about to lose its AAA. To date, all the rating agencies have reaffirmed that the French note kept a stable outlook. Before the elections, it is this perspective which may be changed more than the note itself. However, the situation of French public finances requires quick adjustments.In addition, the French specificity is that elections are before us.

What the next presidential election is she at risk?

Electoral constraint involves two risks. First, there is a risk of inertia or paralysis pre-election, which forced the choice of economic policy in half measures or even, as we have seen in the extreme case of the United States in malfunctions. In France, the measures announced on August 24 to put the deficit on track were chosen with the clear objective to give no pretext for the corporatism of the public to take to the streets to defend its "social gains". Almost all of the 12 billion euros in savings is to increase the tax burden in a country where government revenues are already over 50% of GDP.

Paris fell 3.16% Monday, 2.77% London, Frankfurt and Milan 3.23% from 3.82%. Bank stocks were again the victims of market concerns about the future of the euro area. European shares closed sharply down Monday, October 31, 2011.

The Paris Bourse has lived a black day Monday, October 31, losing 3.16% in a market dominated by profit taking and taken over by doubts about the future of the euro area, despite the European anti-crisis plan. The CAC 40 dropped 105.79 points to 3242.84 in trading volume of 3.35 billion euros. Bank stocks fell by 8 to 10%.

Featured dax index of the Frankfurt Stock Exchange ended down 3.23% to 6141.34 points.German banks have drunk the cup: Commerzbank dropped 8.47% to 1.78 euro and Deutsche Bank, which has suffered from over exposure to the bankruptcy of U.S. broker MF Global, 8.60% to 30.35 euros .

The FTSE-100 index of London Stock Exchange main values ​​lost 158.02 points, or 2.77% from Friday's close at 5544.22 points. The total star of the Milan Stock Exchange, the FTSE Mib, fell 3.82% to 16,017 points. Among banks, Intesa Sanpaolo dropped 7.39% to 1.291 euros, Banca Monte dei Paschi di Siena 6.16% to 0.3383 euro and 5.67% to 0.848 UniCredit euro.

Theolia is now ready to consider acquisitions of wind farms with actors who would experience financial difficulties, said Friday its general manager, Fady Khallouf.

Operations could be done at reasonable prices given the current economic environment, said in an interview with Reuters the owner of the French specialist in wind, on the brink of bankruptcy in 2010 and during recovery.

"A number of actors have tried to develop parks and reaches a certain point, but are weakened by the current economic climate.We have the ability to take over projects and to accelerate, "said Fady Khallouf.

"There are a number of new opportunities from the current crisis (…) We look at a number of topics, it can be small things or things more consistent."

The uncertainties surrounding global economic conditions even strengthen the group's strategy.

"When there are economic difficulties and a number of concerns, both in terms of energy, environmental or financial, I see them as opportunities for us," said Fady Khallouf.

"The fundamentals are stubborn"

"The fundamentals are stubborn. In Europe, production capacity and an older (…) we will have to invest.Whichever way you look at the production, there will be an increase in electricity prices.From there, the wind can no longer be considered a subsidized activity but to be sufficiently close to the market price trend, "said Fady also Khallouf.

"Instead of pretending not to see and panic in a few years, I think all actors – authorities, industrial and financial – have an incentive to engage in reasoned dialogue (…), even if the energy renewables will not displace completely the traditional means."

Fady Khallouf further indicated that his group was about to welcome a new partner in the investment vehicle Theolia Utilities Investment Company (tuica), he has established with the Swiss electrician IWB Industrielle Werke Basel (IWB) to finance wind projects in France, Germany and Italy.

"We are finalizing the entry of a new actor of the same size qu'IWB (…). It is a 'utility' Europe is the 'cross-boarder", he said, considering a deal "imminent".

"This vehicle is intended to go perhaps in other European countries as opportunities (…).It has been so successful that I am asked by various stakeholders who wish to enter, "said Fady Khallouf, which emphasizes, however, at first a round of stabilization and effective launch of its business.

POSSIBLE INCOME IN 2013

Tuica, for producers and distributors of electricity, will have 100 million of capital invested and may use project finance, with the aim to invest over 300 million euros.

Held so far to 70% and 30% Theolia IWB, it will acquire wind projects with the French group, which will ensure the development, construction and operation of the life of the parks and collect a fee for each of these benefits.

Theolia has been profitable than in a single year, in 2010, the mechanical effect of the capital increase, but could generate a net profit in 2013 if the crisis does not delay some of its projects said Fady Khallouf.

"As and when we succeed in achieving the goals I set, we will also have the ability to attract more investors and in that time, the question will arise whether to increase capital or not, or some other scheme that could be to expand the investment vehicle, "he said.

"It will not arise in 2012, we have sufficient cash resources and a very healthy."

MIPCOM, the world's audiovisual content market, ends Thursday. Again, the TV series cartonnent with chains. And for good reason, they can provide maximum profitability. Kiefer Sutherland, actor beacon of potential hit series Touch at MIPCOM 2011

NCIS, experts, or other Mentalist not familiar with the crisis. "The industry of TV series is thriving and continues to grow well. It reaps hundreds of millions of euros of turnover" provides Didier Liardet, author of twenty books on the history and evolution of the series. The international market for audiovisual and digital content Mipcom ends Thursday. Again, it confirms the success of soap operas. The key points of success.

Series account for the hearing

The series are the mainstay of the French audience, before the movies, reality TV, or even football.In 2010, nearly 70 of the 100 largest audiences were TV shows. Each episode of CSI or Mentalist includes about 8 to 10 million viewers. "Just one or two films, or some sporting events, reach this audience on a full year. While each episode of a hit, every week," Didier decrypts Liardet. The side of reality, the audience is also the rendezvous, but the level is still a notch below that of the series. Larger posters as Love is in the meadow or Koh-Lanta meet from 6 to 7 million viewers.

French soaps are not left out either. Episodes of Josephine Julie Lescaut guardian angel and still attract 6 to 7 million viewers."The problem is that the French series are struggling to grow as time slots are trustees for the U.S." finds Didier Liardet.

Worldwide, the success of the series is no less either. The U.S. always exported cartonnent (65.3 million viewers in over 100 countries for CSI). But the programs are not left out either. In Turkey, the local series As Time Goes By is a hit with 12 million viewers on average and exported "very good" according to Médiamétrie, while in China the most-watched series brings together 108 million people!

Of huge advertising revenues for the channels

Advertising revenue is the main TV series.A study by Forbes magazine, a Half Men, 24 and V reported each in ad revenue in 2009, approximately $ 3 million (over 2 million) for a half-hour broadcast, to their American chain. Knowing that a chain buys a successful episode between 100,000 and 200,000 euros profitability is there. According to the website dedicated Yata, experts have reported more than 1, 2 billion in gross revenues from 2005 to 2011 of TF1. And M6 would hit 530 million by NCIS. And "the industry has increased advertising revenues. He is doing very well" ensures Laurine Garaude, director of the division Reedmidem television, a company that organizes MIPCOM.

TV, DVD and derivatives: the winning formula for producers

And the studios producer profitability is no less either. The making of an episode costs about 1.5 to 4 million.And the series are then sold to the chains around the world. The expertsse are well sold in over 100 countries. And also the money that has strings, TV shows industry is fueled by the tremendous impact of DVD sales and products. "The derivatives market a hit series, including the United States. Caps, figurines, t-shirts, guides … Each series has its range. It works less well, however, in France. The prices are often three times higher "Didier notes Liardet. Proceeds from sales of DVDs and Blu-Ray of the "off-fiction film" retreat, however, by 3.4% year on year, but remain at 262 million euros in 2010, according to GfK.

Internet: friend or foe?

If illegal downloads are losing money to the sector, is also an internet business tool size.Several chains have already posted a video-on-demand to watch a series online for a price of about € 1.99 for an episode of Dr. House, for example. TF1 is able to join Facebook for HD episodes of series 24 hours after its U.S. broadcast on the channel at the same rate, but currency Facebook.

In addition, various games and online applications are jumping the reputation of the series. Prior to the release of Dexter, viewers can, for example, through a Facebook application, get in the shoes of the hero. And the recipe has taken: the game already involves 10 million fan! "Some series, such as the American Jericho was even stopped on the TV, then revived because they have had great success on the internet," recalls Didier Liardet.

"The growth of the Internet, social networks, new technologies, the arrival of the iPad, tablets, PDAs or digital channels … This is not a threat. It will just cause change in the sector of audiovisual content. It is the major challenge of Mipcom 2011, "Laurine Garaude advance. "The screens are fragmented and consumption patterns change. The viewer not only wants to be master of what he looks, but when and where he looks" she says. Heads-we moving towards an era where the series will be broadcast on the Internet directly, without necessarily going through the TV? Laurine Garaude ensures that the event is more than credible: "Some meetings are in the show evoke the possibility. Pilots have already been launched on the internet before TV."

Future star series

One of the major trends to emerge at the Mipcom 2011 has been the alliance between the film and TV.To attract funding and viewers, the series are more and more appeal to movie stars. The four most anticipated productions of the season in the United States are no exception to the rule.

Touch, which tells the story of a father who discovers that his autistic son is endowed with supernatural powers will soon broadcast on Fox, will be played with Kieffer Sutherland. The star of the series 24 has recently made a name for the cinema with Melancholia, Lars Von Trier, presented in May at Cannes. Smash, Steven Spielberg, is a music series in which we follow the plight of players to mount a musical about Marilyn Monroe on Broadway. It will air in February on NBC, before arriving at the TF1 fall. American actress Ashley Judd will play in an old Missing CIA spy who will try to find her son disappeared 18 years in Rome.The series will air on ABC in the United States. And M6 is already on track to acquire it. In Hell on Wheels, where the hero is a former soldier in the Civil War who seeks revenge for other soldiers who killed his family, it will also play the actress Dominique McElligott.

The group LVMH said on Thursday replaced by Francis Morel Nicolas Beytout to the general direction of Les Echos.

Nicolas Beytout, former managing editor of business daily, was appointed in 2007 after the takeover of the newspaper by the world leader in luxury.

He became editorial writer "for all group titles," said LVMH in a statement.

After weeks of rumors about a possible departure of Nicolas Beytout, LVMH has finally passed the act, while the newspaper Les Echos recorded losses for the second consecutive year.

"Nicolas Beytout is punished for his bad management," they say internally to Echos, where writing is concerned about his appointment as a columnist.

"We know its proximity to Nicolas Sarkozy and the ethical charter signed by the shareholder recognizes the need for a non-partisan editorial in the newspaper," says one.

Les Echos journalists are scheduled to meet Friday morning at a general meeting to discuss the appointment.

The group, in addition to the Les Echos newspaper, magazine Enjeux-Les Echos, Investir, Connaissance des Arts and the station Radio Classique.

General Manager of Le Figaro from 2004 to 2011, Francis Morel was the architect of the development of internet newspaper, owned by the Dassault family, and the revitalization of its sales.

Wolfgang Schäuble, German Finance Minister, said that Greece could not come back next year on the capital market and will need a decade to have a competitive economy.

In an interview published Saturday by the economic weekly "WirtschaftsWoche", the great financier think it is "clear that Greece will not be able to return to the capital market in 2012, as we thought in 2010."

Against the backdrop of European fears of a possible failure of Athens to its sovereign debt, the chief economist of the German insurer Allianz, Michael Heise, told German radio that restructuring ("haircut") important Debt holders of Greek government bonds would only increase the risk of contagion in the euro area.

"I do not think the time has come for a similar debt restructuring," he said in response to Greek media reports – denied by Athens Friday – a scenario for overcoming the crisis and would be a default ordered at a discount of 50% for holders of sovereign debt.

To the economist, similar scenario would create new problems and increase the risk of contagion to other countries in the euro area, which would create "a very, very serious."

European shares cut their gains late Friday morning on profit taking after a violent rally triggered by the announcement of a concerted action of the banks to provide liquidity in dollars from European banks.

This measure, which boosts financials, does not solve the central problem of the euro area, the crisis of sovereign debt, stress professionals who say they do not expect a resolution of the Greek question at the end of the meeting of finance ministers of the Eurogroup in Wroclaw, Poland.

Around 12:05, the CAC 40 index, which jumped 3.27% on Thursday, rose 0.2% to 3,051 points, banks still leading the movement.

"Some profit taking.And we do not expect a solution to the debt crisis in the euro immediately, "said one vendor." The market is divided between those who believe in the rescue of Greece and those who think it will not be able to meet the requirements for better management of public finances, "he adds.

For Patrice Pérois, sales trader at Kepler Capital Markets, "the beginning of concerted actions of various central banks announced yesterday is very positive.If this is confirmed, all the conditions are ripe for a rally of the banks. "

But, he added that "the day will be highly technical with the expiration of futures and options on stock indices," he adds.

Some banks take the rating, including Societe Generale which accounts for 1.85%.Natixis, which is outside the CAC 40 index after the close of this evening to be replaced by Safran (-1.9%), gaining 0.12%.

London gained 0.8%, 0.9% and Frankfurt Milan 0.7% and European indices, STOXX 50 0.63%.

The performance of the German government bond (Bund) is relaxed to 10 years of 1 basis point to 1.93% while the euro weakened against the greenback and traded around the 1.3795 dollar against 1.3866 on Thursday.

Hermes (-7.5%) shows the largest decrease of the SBF 120 after the justice system has validated the family shareholders to sanctuaries a majority stake in the group face to the appetites of LVMH.