International Business News

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.

The G20 countries pledged Saturday to support and rebalance the global economy face "significant risk of deterioration" and said they expect a robust response of Europeans to contain the crisis in the euro area.

Meeting in Paris to prepare the annual summit of the Forum on 3 and 4 November in Cannes, the finance ministers and central bank governors of the G20 welcomed the decisions taken in late July to strengthen the powers and capacity of intervention of the EFSF, the emergency fund of Europeans.

But they said to wait for new work to maximize the impact of the fund, with $ 440 billion, and "avoid any risk of contagion" from the Greek crisis to other economies.

"We expect the results of the European Council of 23 October, which will present a comprehensive plan to provide an aggressive response to current challenges," we read in the final communique of the meeting.

The U.S. Secretary of State to the Treasury, Timothy Geithner, said he was "encouraged by the speed and the direction in which the Europeans are progressing."

"They clearly have more work to do on the strategy and details, but when France and Germany agree on a plan and decide to pass the act, great things are possible", has he said.

French and German partners presented their G20 outline of the plan which they work for a solution "comprehensive and lasting peace" to the crisis in the euro area, which is due October 23.

Executive Director of the International Monetary Fund (IMF), Christine Lagarde, said that the world economy had changed "negative" from the meetings of the IMF and the World Bank last month in Washington and that emerging economies had expressed concerns contagion of the crisis in advanced countries.

To deal with these "heightened tensions", the 20 largest economies in the world have expressed their agreement to conduct coordinated policies in the short and long term as part of an action plan to be presented at Cannes.

ALL WILL BE DONE FOR THE STABILITY OF BANKS

This "cover a range of measures to respond to immediate vulnerabilities and strengthen the foundations for strong, sustainable and balanced".

Advanced countries adopt policies to build confidence and support growth and implement measures clear, credible and targeted to rebalance public finances, we read in the press release.

Countries with large current account surpluses will take further measures by which their growth will rely more on domestic demand, while those with large current account deficits will implement policies to increase national savings.

Emerging countries to adjust their macroeconomic policies on their part to maintain the growth momentum to face downside risks and contain inflationary pressures.

They are also encouraged to continue "their efforts to move toward systems of greater exchange rate determined by the markets."

On this point, Timothy Geithner acknowledged that China had allowed its currency, the yuan, appreciate gradually but should do so more quickly for the benefit of the global economy.

The G20 countries could not agree on the principle of an increase in IMF resources desired by some to strengthen its response capacity in the current crisis.

The statement said only that they have pledged to "ensure that the IMF has adequate resources to fulfill its responsibilities systemic."

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.

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.

Roselyne Bachelot argues that this reform is not canceled, despite the proximity of the presidential election. A retirement home in Paris in July 2006.

Roselyne Bachelot, Minister of Solidarity and Social Cohesion, said that reforming the financing of dependence "is not canceled, the deadline," in an interview published Friday by Liberation.

"This reform will, I repeat: it is not canceled, the deadline," the minister stressed, explaining that "the global financial crisis we face prevents us, for now, to implement a massive funding for years to come. "

Ms. Bachelot said "a new point will be made in early 2012," but by then, "policy towards the elderly does not stop. We are mobilized, the government continues to act," says does in this interview.

"Every year we create 7,500 extra places in nursing homes. And this effort will increase in 2012," she promises.

However, questioned the immediate need for one billion euros for the departments in charge of dependency, the minister replies that "we must adapt our systems" and that it is possible to provide "more information" and that "structures of respite, but also the structures of days" to families who request this.

European shares cut their initial losses Wednesday, the market favorable ruling in the long run some of the proposals of Angela Merkel and Nicolas Sarkozy to find solutions to the debt crisis in Europe, even though the idea of ​​a tax financial European banking stocks weighed on stock and operators.

Around 13:15, the CAC 40 gained 0.81% to 3257.10 points after losing up to 1.5% in early trade. Other major European markets, London and Frankfurt drops 0.44% 0.29% respectively as they have lost up to 1.5% and 2% in the morning.

"The stabilization of current European indices came after a rebound in more than 10% since the low points.This slowdown is legitimate and should not conclude that the financial community is disappointed with the meeting between Sarkozy and Merkel, "said Arnaud Poutiers, Deputy Managing Director at IG Markets France.

Of the European indices, the EuroStoxx 50 ahead of 0.31% and 0.12% Eurofirst 300 loses.

"Certainly, investors would certainly responded positively if the Franco-German couple had driven on the path of Eurobonds, but it was while renewed visibility in the short term with a continuation of the way of debt, and not a fundamental solution, "said Arnaud Poutiers.

REBOUND ACTION

"The proposals regarding the creation of a government of the euro area as well as measures to harmonize the taxation of factors, however, are constructive in the long term," said he, holding that the equity markets should continue to rebound by the end of the month, the CAC 40 and return to the area of ​​3330 points.

On the foreign exchange market, the trend of early morning was also reversed, the euro rising by 0.49% to 1.4466 dollar while the euro has lost up to 0.5% against the greenback .

Although it was expected, the deferral of certain decisions such as the issuance of Eurobonds and the idea of ​​a tax on financial transactions, however, marked the spirits of investors.

"Once again, European leaders have failed to respond appropriately to the right question," say strategists in a note saying that Natixis European Tobin tax is not the solution to the problem of Europe .

These underline the effectiveness of such a tax is not shown, referring in particular the unfortunate experience of Sweden there thirty years which had resulted in leakage of almost half of the transactions to London .

The financial sector and stock exchange operators are affected by this proposal.UBS points out in a note with the Swedish initiative, the volumes on the Stockholm Stock Exchange had melted by 85%.

"Assuming that the proposed tax is based on the current proposal of the European Commission, a fee of 10 basis points (bps) on stocks and bonds and derivatives on a pdb, multiply it by 10 to 20 the transaction costs, "said UBS.

The Swiss bank said this could influence the proposed mergers and acquisitions and reduce premiums for this type of operation.

As for the bank, BNP Paribas shows the largest drop in the CAC 40 index with a decline of 1.35% at Societe Generale (-1.28%).

Commerzbank lost 3.2% and Barclays was down 2.9%.Stoxx index of bank lost 1.03%.

The exchange operator NYSE Euronext loses 5.09% 3.31% Deutsche Börse and London Stock Exchange Group 4.71%.

The president of the association of German exporters (BGA) Monday urged the leaders of Germany and France to agree on the creation of common bonds in the euro area at the bilateral summit planned Tuesday in Paris.

In an interview with Reuters, the head of the BGA Anton Boerner said that without the "Eurobonds", as Berlin refused so far, there was a risk that the debt crisis in Europe leads to a global depression.

"We need to show markets that we are ready to use the right tools, that is to say Eurobonds signed by Germany," he said.

"We need Eurobonds under strict conditions," he added, mentioning the introduction of "golden rules" budget in the constitutions of all countries in the euro area.

"We need it, and we need it quickly," he said Anton Boerner, who called for the issuance of these common bonds of unlimited volume.

Citing unidentified sources, the German daily Die Welt reported this weekend that the German government began to consider the idea, but senior ministers of the government of Angela Merkel agreed that the time was not ripe for think about it.

Chancellor Angela Merkel will meet Tuesday in Paris President Nicolas Sarkozy for making "joint proposals on the reform of the governance of the euro area before the end of the summer."

Sodexo announced Monday it had won a new catering contract for 20 new bases for U.S. Marines representing a turnover of 766 million dollars (534 million) over a period of up to seven years.

The world number two catering, behind Britain's Compass, had already announced in February to renew its contract with 31 other Marines base, representing $ 926 million in sales for up to eight years .

Sodexo, which produces over a third of its sales in the United States, and will serve a total of 51 bases in the United States, located in Arizona, California, North Carolina, South Carolina, Virginia and Washington.

Sodexo shares are virtually unchanged at 49.97 euros to 10.00, giving a market capitalization of 7.9 billion. She lost about 3% since the beginning of the year.

Suzuki, who formed in late 2009 an alliance with Volkswagen, laments the influence that the German automaker intends to exercise his opinion on him, said Monday a senior officer of the Japanese group.

In December 2009, Volkswagen had acquired nearly 20% of Suzuki for $ 2.5 billion.The operation was welcomed by investors, who hoped that VW would benefit and the small car segment of the Japanese, which in turn would benefit from advanced technologies, including hybrids, German.

Eighteen months later, no progress appears to have been recorded, according to executive vice president of Suzuki, Yasuhito Harayama, responsible for relations with the European leader in the automobile.

"It was clearly said at the alliance with Volkswagen as we did not want a building that we wanted to remain independent," he said to the press.

"We feel it is necessary to return to the starting point, including with respect to the rate of equity participation.The idea that we are independent businesses and equal partners is the fundamental prerequisite to any specific cooperation. "

Other manufacturers are willing to cooperate in a relationship of equals with Suzuki, which has operational pursue reconciliation with a wide range of companies, continued Yasuhito Harayama.

"Currently, no joint development project is under way with Volkswagen."

According to the Japanese context, Volkswagen ranked Suzuki in its annual report as a consolidated group, following an accounting process that would allow him to exercise over him a "great influence".

At the time of the rise in the capital of Volkswagen Suzuki, the director general of Japan, Osamu Suzuki, had emphasized the relationship of equality that he intended to preserve and limited the participation of VW to 19.9%.

Since then, through a shareholding agreement, Suzuki has gradually acquired stock Volkswagen.

In a recent blog note relayed by the site's business daily Nikkei, Osamu Suzuki deplored had already been around the relationship between the two groups.

"Both companies are of very different sizes, and perhaps with the passage of time, they had the wrong impression of having placed their flag Suzuki," said the leader of 81 years known for its fair speak.