International Business News

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.

The New York Stock Exchange ended Thursday up 0.31%, the Dow Jones 30 Industrial winning 35.27 points to 11,539.89.

The S & P-500, wider, took 5.43 points, or 0.45% to 1215.31.

The Nasdaq Composite Index, however, declined 5.42 points (0.21%) to 2598.62.

These data are likely to vary even slightly.

Paris and Berlin would have agreed to increase the capacity of European Financial Stability Fund (EFSF) in 1000 or 2000 billion. Paris gained 0.76%.

Despite the deterioration in the sovereign rating of Spain by Moody's, the Paris Stock Exchange was up Wednesday morning, encouraged by rumors of a Franco-German agreement on the recapitalization of banks and strengthening of the support fund in Europe. At 9:37, the CAC 40 clinching 0.76% to 3164.70 points, the German Dax gained 1.02% and 0.97% took London. Investors reacted positively to news reports on the European Financial Stability (EFSF), analysts have said Aurel BGC.

Paris and Berlin would have agreed on a plan to end the debt crisis by increasing the response capacity of the EFSF to 2,000 billion euros, against 440 billion currently, according to an article posted online by the British newspaper The Guardian. According to the Financial Times Deutschland, the German finance minister, Wolfgang Schäuble, for his part, mentioned the figure of 1.000 billion euros as the future financial capacity of the support fund.

"The important point to remember is that an agreement exists between France and Germany, which suggests significant progress this weekend," noted strategists Credit Mutuel-CIC. "However, do not expect miracle solutions that will enable us to turn the page of the crisis", they said.

Especially as the situation remains confused in the eyes of analysts.We do not have the essential piece of the puzzle, namely how the "size" of EFSF may "be increased" in 1000 or 2000 billion, and asks the broker Aurel BGC. The hope of a future strengthening of the EFSF relegated to second the blow firmly told to Spain by Moody's Investors Service on Tuesday night which lowered the country's credit rating by two notches.

According to Reuters, two senior officials of the European Union say that no agreement has yet been found. "It is naive to think we can do this kind of calculation and come up with a nice round figure of 2000 billion. It's not that simple, "said one of them.

As for values, the banking sector was up sharply, driven by any progress on the EFSF.BNP Paribas take the lead in the rating (4.21% to 31.19 euros), followed closely by Credit Agricole (2.28% to 5.03 euros) and Societe Generale (2.13% at 19 , 65 euros). Accor took 2.08% to 22.53 euros after posting a turnover of 1.62 billion euros in the third quarter, up 2.7%.

The rating agency Fitch has placed on negative watch Thursday's long-term ratings of BNP Paribas (AA-) and Credit Agricole (AA-) as part of its periodic evaluation of European institutions.

The credit rating of long-term Credit Mutuel (AA-) was also placed on negative watch, but that of the Societe Generale (A +) was confirmed.

The notes of sustainability ("Viability rating") of BNP Paribas (AA-), Credit Agricole (AA-) and Societe Generale (A +) are also placed on negative watch.

Fitch said that the negative phase of monitoring should be short, and that if cuts in long-term notes were determined, they could not exceed one notch, the minimum level of major French banks are "A +".

In the case of Societe Generale and BNP, Fitch notes that the business model of universal banking world they have chosen seems "particularly sensitive to increased challenges which face the financial markets."

"These challenges result from a myriad of changes in the regulatory and economic developments, especially in the euro area," said Fitch.

Also as part of its review of banks, Fitch has also downgraded the Swiss bank UBS to "A +" to "A".

Those of Barclays, Credit Suisse, Deutsche Bank are also placed on negative watch, just as the U.S., the Bank of America, Morgan Stanley and Goldman Sachs.

The Bank of France reiterated Monday its forecast of growth of 0.1% of the French economy in the third quarter, based on the results of its latest monthly business survey.

She had halved its forecast last month.

The business climate indicator in industry has remained stable in September at 97 while the service sector shrank from one point to 96.

In September, "industrial activity has remained stable, the contraction in the automotive and manufacturing equipment was offset by the increase observed in the food industry and some sectors of production of consumer goods" , says the Bank of France.

She added that the forecasts of business leaders expect a stable business. "

The utilization of production capacity improved slightly, to 79.3% against 78.8% in August. However, it remains below its historical average of 82.

In services, says the Bank of France, sales rebounded in September, "particularly in transportation, computer services and to a lesser extent temporary employment." The outlook for the coming months, however, foreshadow a slowdown in activity.

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.

Over a third of French say they have experienced "a situation of poverty" at least once in their lives, according to an Ipsos for the Secours Populaire. The respondents considered 92% as a "poverty" the fact of "regularly experience significant difficulties in obtaining a healthy, balanced diet."

Over a third of French (35%) say they have experienced "a situation of poverty" at least once in their lives, a proportion rising, says an Ipsos for the Secours Populaire announced Thursday. This rate of 35% is seven points higher than in the previous survey in 2010.

Nearly one in four French people (22%) also indicates that it is "ever had (to) say, at a time of (his) life, that (he was) on the verge of a situation poverty ", but he finally experience it.

Sign considered "alarming" by Secours Populaire, "young people are increasingly concerned", "ages 15-34 are almost a third of French (29%) who have experienced job insecurity." "They were only 22% in 2010."

And 85% of respondents believe that "the risk (their) children know one day a situation of poverty are higher than for (their) generation" for 50% risk is "significantly higher" for 35% they are "slightly higher". Only 11% consider them "lower".

The French set the poverty line at 1,031 euros per month for a single person, a figure "stable" compared to 2010, "a little below the minimum wage (1070.76 euros net per month), but always" superior to 954 euros the official poverty line calculated by INSEE. "

The respondents considered 92% as a "poverty" the fact of "regularly experience significant difficulties in obtaining a healthy, balanced diet." But they are also likely to discuss the fact of not being able to "send their children on holiday at least once a year" (73%) or not being able to "access goods or cultural activities and entertainment for himself or family "(71%).

Survey conducted by telephone August 19 and 20 with a sample of 1,016 people representative of the French population aged 15 and over, by the quota method.

U.S. President plans to eliminate many tax loopholes that benefit high-income.

Barack Obama spoke for the first time Monday of tax increases to finance his plan. They would focus on eliminating the tax exonératons enjoyed by businesses and the wealthiest Americans. They would include the elimination of tax loopholes for oil and gas companies, owners of business aircraft and households with annual incomes exceeding $ 250,000.

Obama, candidate for re-election in November 2012, and Republicans have already clashed in December 2010 on the issue of tax breaks inherited from the era of George W. Bush. After a hard-won compromise, these measures were extended until the end of 2012.The announcement on taxation provoked an immediate reaction from the majority leader in the House, Eric Cantor: "I really hope that the president is not proposing that we pay for his proposals with a massive increase in taxes at the end of 2012 to create jobs that we rely on to reduce unemployment, "he warned.

"It is fair to say that this increase in taxes on job creators is the What kind of proposal rejected both parties in the past," said meanwhile Brendan Buck, spokesman for the president the House of Representatives John Boehner, leader of Republicans in Congress.

The job plan proposed Thursday by President Barack Obama is betting the recovery of consumption and public investment, at a time when the U.S. desperately needs growth drivers."Ultimately, our recovery is not caused by Washington, but our businesses and workers. But we can help," Obama said in Congress.

Growth in need of help. Fell to levels starving this year (0.7% annual rate in the first half), it is very far from being able to reduce unemployment, stuck at 9.1%. The presidential plan of $ 447 billion is allocated according to the encryption of the White House, from 57% of tax cuts and 43% of expenditure. Obama wants to invest just over $ 100 billion in the rehabilitation or construction of transport infrastructure and telecommunications, schools and homes or business premises vacant.

He also hopes to put more money into the pockets of employers and employees by giving up more than $ 250 billion in tax revenue. Hope this will help private consumption.The rest must supply targeted measures to job seekers or maintenance of public employment. Such a plan "would give a significant boost to GDP and employment in the short term," analysts have estimated the Macroeconomic Advisers, whose monthly estimates of GDP are used for dating recessions and expansions in the United States. For 2012, Macroeconomic Advisers estimated 1.3 percentage point contribution to growth, and 1.3 million jobs for the job.

Mark Zandi of Moody's Analytics, expects 2 percentage points and 1.9 million jobs. He sees "a commendable effort" of the president, but remember the risk that the plan be cut by Congress, which elected Republicans reject new spending. "There are compelling reasons why the Obama administration and Congress should provide more budgetary support to the economy," argued economist.For Goldman Sachs, instead of removing 1.1 percentage point of growth without the plan, fiscal policy in 2012 would add 0.4 percentage points with the plan.

"The private forecasters said in their initial assessment, it would make a very substantial contribution to growth at a time when we need it, and it would help to put hundreds of thousands or more Americans to work," welcomed the Treasury secretary, Timothy Geithner.

"We believe the prudent and responsible thing to do now is to do more for the short-term growth," he added, in an interview on Bloomberg TV channel from Marseille.

Economists noted that Obama had not discussed the financing of these measures at this point. "The president proposes to reduce social security contributions and the financing of social protection.Yet it remains the greatest threat to long-term solvency of the United States, "said Jason Schenker, Luxury Economics. To offset the cost of those measures, Obama announced for September 19" plan deficit reduction more ambitious "than the present. No details are known at this time. To M. Schenker, it shows" that the chances of a positive effect on the labor market and the economy are limited " .

Steve Jobs resigned Wednesday from his position as CEO of Apple, which is now occupied by his right arm Tim Cook, saying he could no longer bear the load.

"I always said if I ever came to not being able to perform my duties and obligations as CEO of Apple, I'd be the first to let you know.Unfortunately, that day has come, "he wrote in a brief letter of resignation.

This letter and a terse statement from the firm at the apple raise more questions than answers about the health of Steve Jobs and the future of society.

These questions explain that Apple stock has dropped 7% in the post-closing transactions on Wall Street and has lost nearly 6% in Frankfurt in early trade.

There are only eight short sentences in the letter of resignation from Steve Jobs addressed the board as well as fans of Apple.

"I would serve if the board deems appropriate, as chairman of the board, directors and employees," writes Steve Jobs.

THE "CREATIVITY AND INSPIRATION 'FOR TIM COOK

While this departure does not challenge the Apple's ambitious trade agenda in the short term, some question whether the firm will retain its high-tech creative beyond next year without his boss emblem.

In the press release from Apple, the independent director Art Levinson leases on behalf of the Board, "an exceptional leadership and vision" and "innumerable contributions to the success of Apple," and added that Steve Jobs continue to serve society by his "intuition, creativity and inspiration that belong to him."

The statement, which also boasts the exceptional performance of Tim Cook, says nothing about the health of Steve Jobs, who is 56 years old.

His battle against pancreatic cancer has been for years a source of concern for Apple fans, investors and the board of directors, which Steve Jobs now occupy the presidency, a new position for the high tech group.

Until now, Apple would rather have a structure consisting of two independent co-administrators.

Steve Jobs was on sick leave since Jan. 17, Tim Cook taking office on a daily basis.

He spent the day Wednesday meeting with members of the board and management's Cupertino headquarters, and has actively assume his new responsibilities, told Reuters a source close to him.

A second source said that Steve Jobs will remain on the board of Walt Disney.

Some industry experts believe that Steve Jobs made it clear he was no longer able physically to perform a function as demanding as the general direction of a company.

Steve Jobs appeared gaunt when he made a brief appearance in March to unveil the iPad 2.He then made an appearance at a dinner hosted by President Barack Obama for business leaders in Silicon Valley.

"It's really sad"

Tim Cook, a former Compaq aged 50, known for his mastery of the supply chain, has been acting at all three sick leave Steve Jobs.

"Investors are very comfortable with Tim Cook even though Jobs has been a force for innovation and an obvious success of Apple.Tim has shown that Apple could still outperform extremely well when he was interim CEO, "said Shannon Cross, analyst at Cross Research.

For a boss in Silicon Valley told Reuters the letter from Steve Jobs indicated that his condition could be worse than what is known publicly. "It's really sad," he said, wishing to remain anonymous. "No one sees this as a professional issue but a human issue. No one believes that Steve retires because he simply does not want to lead Apple."

In particular, the new sensation in Asia, where many are based suppliers and competitors to Apple. Samsung Electronics, a supplier of chips for Apple but also on its rival smartphones and tablets, has gained 2.4% on the stock market.Sony, Apple defeated by the segment of players, took 2.07%.

Oncologists surveyed who did not participate in medical care given to Steve Jobs, said it was likely many complications of a rare form of pancreatic cancer he had and the liver transplant that followed. They cited a hormonal imbalance or relapse even more difficult to treat the patient is weakened.

The government target of 2% growth for 2011 in France will be difficult to achieve because of poor economic health of the United States said Monday the president of French employers Laurence Parisot.

"It's difficult simply because the United States are not going well, this is one of the main economic engines of the planet. This is something that seems very difficult to achieve," she said of France 2.

The president of MEDEF was speaking after the publication of statistics showing that French growth was zero in the second quarter, which suggests that the figure for the year would be around 1.4% or below , according to economists.

Laurence Parisot, however, wants to be optimistic."Growth is something that is earned every day through work, innovation, boldness, creativity. If we do not show discouragement, we can continue to get these points of growth," she said.