International Business News

France prepares to beat Thursday's record consumption of electricity and gas. Blame the intense cold that strikes the Hexagon. Y there is a risk of blackouts? Cars are blocked due to the snow at Saint-Arnoult-en-Yvelines toll near Paris December 8, 2010 as winter weather and freezing temperatures sub-continuous in France. (FRANCE – Tags: ENVIRONMENT TRANSPORT)

The cold wave that moved to France will intensify in the coming days, but so far, "no major blackouts are to be expected" reassures Herve Mignon, Director of Economy, Planning and transparency in TEN (a subsidiary of EDF). In total this Thursday, 41 counties are in orange alert "cold and snow", until Saturday, 7 am. Level 3 Plan "Extreme Cold" was triggered in Isere, Savoie and in the Oise and the North. "It is seven degrees below seasonal averages of both north and south," said the forecaster Meteo France Dominique Raspaud. A cold that will become even stronger to the end of the week throughout France. For Friday, says Ms. Raspaud to AFP, "is expected within 5 to Marseille in the south-west, at least 6 Bordeaux and La Rochelle, below the minus 10 in Alsace, France-Comté and Rhône Alps "… Even in Britain, a region often spared the extreme temperatures are expected least 1 or less 2 Friday morning in Brest.

Consumption soaring …

The latest forecast of RTE, EDF subsidiary that manages the French high-voltage network, the national electricity consumption would reach 95,500 megawatts (MW) this Thursday at rush hour, at 19h, grazing and the peak total of 15 December 2010 (96,710 MW). After a hard day following the historic summit next Monday could be exceeded, providing RTE for now peaked at 98,700 MW that day. However, an estimate will be refined at the mercy of weather bulletins France. The reason for the runaway? The cold wave which pushes the Hexagon shiver the French to run their electric heaters at full speed. "During cold spells in winter, when there is a degree Celsius less, this corresponds to 2,300 megawatts of additional consumption, the equivalent of twice the consumption of the city of Marseille," recalls Herve Mignon, Director of the economy, foresight and transparency in TEN.  

But … no risk of "blackout" National

"Nationally, there is no risk now, in the sense that the means of production and available national electricity imports from neighboring countries can meet the electricity consumption as expected, "said M.Mignon.

To spend the winter safely, France is indeed important to the Power Utilities. She buys from Germany and Great Britain. Belgium and Denmark can also provide electricity. Spain, if it is untouched by the cold wave, could also provide some of the energy it needs by turning to its own power base.

Increased prevention of certain departments

RTE enabled for the first time this season the device Ecowatt in both "electric peninsulas" that are Brittany and the Côte d'Azur, which were placed in "orange alert". A clear message was sent: "We invite you to moderate your consumption of electricity between 18:00 and 20:00." And for good reason, these areas suffer from a lack of internal capacity of electricity generation, and therefore rely on neighboring regions to meet their energy needs. They are located at the ends of the national grid, it creates risks of bottleneck in their diet. In the Var, 3,000 homes remained without power Thursday morning.

Some useful tips

The right temperature is 19 ° C, no more! A simple thing: go to 20 ° C to 19 ° C in the living rooms of 7% to reduce your energy consumption. In the rooms, ADEME cautions that it is better to keep a temperature between 16 ° C and 17 ° C. In case of absence, he should lower the heating and do not put them up after work. "They will not heat the room faster," said the Environment Agency and energy management. Reduce power consumption between 17h and 20h in winter. few simple actions like turning off appliances on standby, turn down the heat in unoccupied rooms, close the shutters at night, and use appliances after 20h. Companies must also participate in this national effort.

The European Central Bank is considering to extend the maturity of its loans to banks in two or even three years, wanting to prevent the crisis in the euro area does not cause a "credit crunch" that would stifle the economy, we learn of sources familiar with the matter.

The ECB considers this unprecedented opportunity, while growing fears of an explosion in the euro area affect the interbank market, banks tend to reduce the number of establishments to which they lend.

For now, the maximum maturity of liquidity operations of the ECB is one year.A bank to finance two or three years from the ECB, it could be misinterpreted. "

Another source said that the ECB was considering the possibility of providing liquidity to maturity in the same vein through several short-term loans, pledging to keep such a line of credit for a period up to three years.

In June 2009 the ECB has proposed for the first time refinancing operations to one year. She repeated this year with a LTRO to 12 months in October and 13 months in December.

The European Financial Stability Fund (EFSF) should be made operational as soon as possible, said Friday the president of the European Central Bank (ECB) Mario Draghi, showing some impatience vis-à-vis the slow progress to date this.

In a speech at the European Banking Congress, Mario Draghi said that the Heads of State and Government of the European Union had decided to launch the EFSF here over a year and a half and decided to leverage capacity four weeks ago.

"Where are we in the implementation of these decisions?" He asked."You must not wait any longer," he added.

The ECB president reiterated that the downside risks to the outlook in the euro area had increased and felt that this activity should moderate and weak pressure on prices, costs and wages.

Burberry reported Tuesday a 26% increase, as expected, its adjusted earnings in the first half of fiscal 2011-2012, thanks to sustained consumption of tourists around the world, and confirmed its annual forecast.

"We remain mindful of the uncertainties and ready to respond to them," said in a statement, however, the British manufacturer of waterproof leather goods founded 155 years ago.

It posted a profit before tax and exceptional items of 162 million pounds (190 million euros) over the six months to September 30, 2011, against an average estimate of analysts polled by Reuters of 159 million.

Last month, the group announced quarterly sales exceeded expectations, saying not yet have found the slowdown in demand despite uncertainty about the evolution of global growth.

Burberry has confirmed its ambition to increase its network of outlets around 15% in the second half, including the opening of eight to ten stores in places like China and Latin America, and that a new "flagship" in Paris.

The values ​​of luxury far seem to defy the crisis, but the uncertainties in this highly cyclical, the question remains whether the growth in Asia will escape the crisis.

Nicolas Sarkozy was expected Sunday afternoon in Berlin for talks with Angela Merkel of crisis, with a priority to overcome their differences on how to recapitalize European banks.

In announcing the end of September it moves ahead in the German capital, the French president had indicated he would discuss with the Chancellor "ways and means to accelerate economic integration in the euro area and implement as soon as possible" the new aid plan for Greece approved July 21 by the Europeans.

The subject of a recapitalization of banks has been imposed to try to reassure markets worried about the resilience of the banking system facing the European financial and economic crisis due to its exposure to countries worse off.

The International Monetary Fund, one of the first to sound the alarm, said the overall needs of the sector between 100 and 200 billion euros.

The Irish Minister for the Economy, Michael Noonan, reported Saturday that there is a consensus on an amount "well above 100 billion."

The European Commission must present earlier this week proposals for a coordinated process of recapitalization of banks, which will be submitted to EU leaders at a summit on 17 and 18 October in Brussels.

As is always the case since the beginning of the crisis, France and Germany, the two heavyweights of the euro zone must first calibrate their positions.

Nicolas Sarkozy stressed on September 30 that there must be between the two countries "a perfect identity of views to resist speculation, to resist the excitement of the markets and to protect Europe".

But Germany and France have so far defended the differing approaches on the use of public funds to strengthen banks.

Paris would prefer to use the European Financial Stability Fund (EFSF), while Berlin insists on reserving the European emergency fund, which has $ 440 billion in shares last resort, such as support to Greece.

PUBLIC SHAREHOLDERS OF LAST RESORT

Friday receiving the Dutch Prime Minister Mark Rutte, Angela Merkel has reiterated that the EFSF should be activated "if a country can go it alone."

France, whose banks have the highest exposure to the debt of the peripheral countries of the euro area, has worked to minimize these differences by ensuring that the issue had not yet been discussed with Germany.

"Our position is no different from that of the Germans: it takes more capital for banks, banks must first find in themselves the resources, then if they find private investors outside and ultimately being considered injections of public capital, "it was said at Bercy.

The Ministry of Economy and Finance argued that it was first necessary to assess the level of capital required, by when, and it is then that will arise the question of "instruments of a possible recapitalization public ", which has not yet been addressed.

Meanwhile, France does not intend that the current debate among Europeans are limited to this single question."It will be among the topics discussed but the main thing about Greece and the euro area, since the banks is a consequence" of the crisis, stated there at Bercy Friday about the Sarkozy-Merkel talks Sunday.

The two leaders are expected to again argue for a rapid implementation of the agreement of July 21, which must still be ratified by Slovakia and Malta, and while the voices begin to rise enough to judge.

The Greek representative at the IMF has estimated Saturday that the financing needs of Athens will exceed current estimates and the difference will be made up "either by an increase in the loan of 109 billion decided July 21, or by restructuring the private debt. "

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.

The current monetary policy of the ECB and the euro boosted hurt German exporters, said the Nobel Prize in economics. Joseph Stiglitz

The American economist Joseph Stiglitz, Nobel Prize in 2001, called the European Central Bank (ECB) to lower its key rate, in an interview published Monday in the German daily Handelsblatt. "The ECB should withdraw its previous increases" in April and July, which increased its key rate from 1% to 1.5%, said Stiglitz.

The economist, known for his critique of liberalism hardcore, says Frankfurt institution should take more account of its American counterpart, the Fed, which intends to maintain its rates at 0% for two years. "The current monetary policy of the ECB pushed the euro and hurt German exporters," he said.

Economists now expect the ECB no longer affects the rate of interest this year because of the new outbreak of the debt crisis, whereas before the institution seemed determined to further tighten its monetary policy in the fall.

Stiglitz has also reiterated its view that if the eurozone were to implode, "it would probably be better than Germany left the monetary union rather than to expel Greece."

The economist also expresses once again in favor of European bonds or "Eurobonds", "a good instrument to control the crisis."

Executive Director of the International Monetary Fund (IMF), Christine Lagarde warned on Saturday against the risk of the global economy plunging into recession and called for a rapid and coordinated political action, particularly in restructuring European banks.

"The events of this summer showed that we were in a dangerous new phase," she said at the annual meetings of the Fed in Jackson Hole, Wyoming.

"The stakes are clear: we are in danger of compromising a fragile recovery.We must act immediately. "

Advanced economies must develop long-term plans to control their debt, while ensuring that conservation measures will need not jeopardize the recovery, she added.

"Macroeconomic policy needs to support growth," said the former French Finance Minister in his first major speech since taking office as head of the IMF in July.

"Monetary policy also needs to be extremely flexible because the risk of recession is higher than inflation."

She stressed the need to restructure European banks.For her, the most effective way to effect a recapitalization would be "substantial", if possible through private channels or so through a form of European public funding.

She urged European countries to implement programs to reduce "credible" in their public deficits, relying in particular on the European Central Bank.

About the situation in the United States, she said that the need for long-term fiscal consolidation should not obscure the importance of supporting growth in the short term.

"Who can believe that commitments to reduce spending could survive a long stagnation, with unemployment still high and face the social discontent?"

France rejects currently a Swiss proposal to tax the assets of French citizens hidden in Switzerland on the model of a recently concluded agreement with Germany, a source said Thursday the Department of Budget.

Germany and Switzerland have in fact agreed to implement a tax on assets held by Germans in secret accounts in Switzerland.A similar agreement is about to be concluded with Great Britain and could be considered by other countries of the European Union.

Paris, which seeks to substantially reduce its budget deficit, estimated not to be able to accept such an agreement at this time.

"We see what our European partners and we study the compatibility of this proposal with our principles," said the source.

According to Le Monde, which was the first to reveal that France has declined this proposal, Paris considered that it amounted to drop the charges against the tax evaders and therefore it was inconsistent with the policy in recent years.

According to the agreement with Berlin, the existing assets in Switzerland and held by the Germans will be taxed between 19% and 34%, in particular according to the duration of concealment of assets.

The French government and parliamentarians are working to define an exceptional contribution of the wealthiest French next year to fill a small part of the budget deficit.