International Business News

Allianz reported Friday a third quarter net earnings well below expectations, the financial market turbulence has sealed investment income of the first European insurer.

The German company posted a net profit of 196 million euros over the period while 14 analysts polled by Reuters had expected an average of 566 million.

Allianz has spent 931 million euros in provisions, mainly on investments in the financial markets.

The cons-performance does not deter investors to buy the title, the emphasis operators operating income.

The latter is certainly emerged down 7.3% to 1.91 billion euros, but above a forecast of 1.71 billion.We do not judge too negatively the fact that the net profit is below expectations because it was caused by a higher taxation and impairment of assets higher than expected, "said Philipp Hässler Equinet Bank.

By 10:00 GMT, taking 1.87% to 74.07 euros while the index grouping the values ​​of the European insurance advanced 0.97%.

Allianz confirmed its target of operating profit between 7.5 and 8.5 billion euros for the whole of 2011 but said that the annual net would likely be less than five billion euros in 2010.

The placement of the French No. 1 would be the victim of a crisis of confidence? Withdrawals from contracts of life insurance were up 1.8 billion euros in deposits last month. Life insurance, savings, piggy.

Withdrawals from contracts of life insurance on deposits were higher in September, a phenomenon already observed in late 2008, according to figures released Monday by the French Association of insurance.

The net outflow of insurance contracts reached 1.8 billion euros in September, confirming the dire straits facing the preferred placement of French. In September, 9.7 billion have been placed on these contracts. In nine months, the collection of contributions amounting to 98 billion euros, down 11% over the same period in 2010, the association said in a statement.

In detail, 83.4 billion were paid on the supports euros and 14.6 billion euros in the media unit of account (capital not guaranteed). "An outflow of EUR 1.8 billion does not affect the attraction of investors to the guaranteed investment whose remuneration is attractive," said the President of the French Federation of Insurance Companies (FFSA) Bernard Spitz, in an interview with Le Figaro newspaper published Monday.

He said the phenomenon of redemption affects only a little more than half of the 11.5 billion euros of withdrawals, which also reflect the aging population, with retirees who are drawing more and more in their life insurance.

A Booklet has not particularly benefited from the alienation found in September for life insurance, recording an average level (1.13 billion euros).

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 Tokyo Stock Exchange finished up Wednesday modest, increasing only its rich gains yesterday, but investors have become wary about the willingness of Europeans to stem the debt crisis.

In addition, the stock market no longer had the support of procurement from the dividends that had enabled the Nikkei gaining almost 3% Tuesday.

Tuesday was for investors on the last day to buy Japanese equities and collect their dividend for the first half of the fiscal year.

Finally, the volume of business was low, suggesting that investors prefer to sit on the sidelines as the bargain hunting.

"Half or less of the shares of the Tokyo Stock Exchange were ex-dividend today, so there has been tying this, not to mention the uncertainty about the developments in Europe, it makes buyers cautious and it limits the upside potential, "said Yutaka Miura (Mizuho Securities).

The Nikkei gained 5.70 points (0.07%) to 8615.65. The Topix, broader, more compelling displays a gain of 5.52 points (0.74%) to 754.07.

Values, Japan Tobacco, the cigarette third world was a very popular time, the state has announced that it would sell its 50%. The action peaked three years to shift down and to include in closing down 2.86% to 356,500 yen.

Tokyo Electric Power (TEPCO) jumped 8.23%.The Yomiuri newspaper wrote that the government advise the operator of the Fukushima nuclear power plant to remove 14% of its regular staff, or 7,400 jobs, to participate in the repairs that followed the disaster of 11 March.

The restructuring plan Tepco be unveiled on October 3, the paper said, without citing sources.

Barack Obama proposed Monday a plan to reduce the budget deficit of 3,000 billion over the next ten years, half would come from new tax levied on the richest Americans and corporations.

The plan of the Democratic president, whose recommendations should meet the electoral base of his party, was immediately criticized by Republicans, foreshadowing a battle in Congress.

This ideological clash over economic policy should continue until the presidential election of November 2012.

"Washington to live with his means.We need to stop what we can not afford to pay for what really matters, "said Obama in introducing his plan.

"I will not support a plan that puts the entire burden of deficit reduction on the shoulders of the average American," said Obama."We will not agree unequal affect the most vulnerable," he said.

Savings will be made in Medicare, the Social Security program for older Americans, said the U.S. president.

But he warned he would veto any proposal that would reduce Medicare benefits without requiring an increased effort in return for the wealthiest Americans and big business.

The U.S. president said he was ready to work with Republicans for a comprehensive tax reform but warned that the objective of such reform should be to increase state revenues.

He said he was ready to lower taxes on businesses provided to get rid of all tax loopholes.

NOT SERIOUS, REPUBLICANS SAY

The tax "Buffett", named after the investor Warren Buffett who proposed, the proposal is the most spectacular of the plan, although it remains symbolic of the admission of the White House.

It concerns taxpayers earning over one million euros (about 725,000 euros).The goal, said Obama is the tax rate for the wealthiest U.S. taxpayers back to the level of the 1990s and the middle class pays no more, proportionately, than millionaires.

Obama's proposals are intended for the bipartisan commission formed this summer as part of the agreement on raising the debt ceiling.

The six Republicans and six Democrats who compose it must find by the end of November at least 1200 billion budget deficit reductions, which will add to the 917 billion already decided by the agreement of August.

"Threatening to veto, massively increase taxes to save ghosts and build on a reform of social programs, it is not a recipe for economic growth and labor market," said the leader Senate Republicans, Mitch McConnell.

John Boehner, chairman of the House of Representatives found that the contribution of Obama's bipartisan commission was not "serious".

In detail, Obama calls for the abandonment, expiration, tax exemptions up to the presidency of George W.Bush (800 billion dollars and would be recovered over ten years) and an overhaul of the tax code to eliminate some tax loopholes, such as offering tax exemptions to businesses through the acquisition of business jets (total gain of 700 billion ).

The Obama plan is also banking on 1100 billion savings associated with withdrawal of troops deployed in Iraq and Afghanistan.

The services of the White House finally believe that these reductions in the budget deficit will result in reducing the burden of debt relief that they amounted to ten-year $ 430 billion in less interest to pay.

Require the recipient of the RSA base to work one day a week, without offering additional training or support, will not help them find new jobs, says Matthew Angotti (Federation of Associations of insertion). Former Secretary of State for Active Solidarity, Marc-Philippe Daubresse, submitted a report to Nicolas Sarkozy Wednesday, September 14, 2011, which makes 22 proposals to reform the RSA.

In a report submitted Wednesday to Nicolas Sarkozy, former Minister of Solidarity Marc-Philippe Daubresse proposes to employ the beneficiaries of the RSA one day a week, paid at minimum wage. The activities concerned will have to be socially useful and cover needs that are not, such as DIY, waste collection, maintenance of heritage, home services, etc..Only persons "capable of work" would be affected (a third of the beneficiaries of RSA base). Any refusal would be punished. This report hopes to defuse the controversy launched in the spring by some members of the majority and the Minister Laurent Wauquiez, who had proposed to work for free RSA recipients. These proposals are in the right direction but remain largely inadequate, says Matthew Angotti, Director General of the Federation of Associations of insertion (Fnars). Interview.

What do you think of the proposal to employ the beneficiaries of the RSA for pay?

Compared to the proposed Laurent Wauquiez, there are two positive developments. First, we return in the labor law, contract with a single insertion (CUI) that already exists and it is not free but paid work at minimum wage.Then, targets only those capable of work, allowing social workers in the field to decide the conditions to be met.

Is it a positive step for the return to work?

No. This is not working 7 hours per week in odd jobs such crafts as one leaves lasting insecurity. There is even a big risk to keep the beneficiaries in a precarious state. This should not be the lasting solution but a starting point of a trajectory employability, including the following steps would be to get these people to vocational training and coaching increased to find a job. However, the report says nothing about Daubresse training and support. As it stands, this is like a manipulation to lower unemployment figures.

The report suggests Daubresse to strengthen sanctions for refusal of beneficiaries to work. Is it necessary?

It's communication. How pathetic to suggest that the unemployed will not work. Above all, it makes no difference: recipients of the RSA are already obliged to accept job offers or assisted contracts offered to them, or risk seeing their benefits reduced or eliminated. The problem is that offers them nothing.

In addition to training and support, are there other gaps in this report?

Yes, two major. The first concerns the RSA youth. Currently, the access conditions for the RSA under 25 are too restrictive. This leaves thousands of young people in a very precarious.The second is the level of RSA: consider that in France you can live with 450 euros a month is ridiculous! Of course, in times of austerity, I'm not asking that the amount be doubled, but it would still fund a reflection on what we consider to be the minimum decent standard of living.

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?"

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."

Baroin and Valerie Pécresse have a week to make proposals to the President and the Prime Minister to ensure the goal of deficit reduction. The executive will make its arbitration on August 24. Baroin was appointed Minister of Finance and Econo Wednesday, June 29, 2011. He was replaced by Valerie Pécresse Budget.

Ministers Baroin (Economics) and Valérie Pécresse (Budget) will have to be Nicolas Sarkozy proposals to ensure compliance with the goals of deficit reduction that will be subject to "final decisions" on August 24, announced the Elysee Wednesday. At a meeting convened at the Elysee Palace, Sarkozy recalled that France's commitments on this issue "are intangible and will be required regardless of changing economic conditions."

Proposals requested from Mr.Baroin and Mrs. Pécresse to ensure compliance will be first reviewed by Nicolas Sarkozy and François Fillon August 17 and then the "final decisions will be made August 24" at a meeting between the four of them, the statement of the Presidency. The meeting on Wednesday, August 24 will take place after the Council of Ministers of the season, on the morning of that day.

"This will be the day of decisions, actions to achieve these goals," said Minister of Economy to the press after the meeting. The Foreign Minister Alain Juppe, Minister for European Affairs Jean Leonetti, and Christian Noyer, Governor of the Bank of France also attended the crisis meeting, which lasted two hours and fifteen minutes.

"The head of state noted that the decisions made by European and American institutions have reduced tensions in financial markets," also claims the presidency in a statement. Specifically "in Europe, the measures adopted by the Spanish and Italian as well as the interventions of the ECB have been effective in significantly reducing the interest rates on the debt of these two countries," they added just source.

By the way Nicolas Sarkozy again called the gathering "beyond party lines" in order to restore the balance of public finances, the statement said. An allusion to the refusal of the PS to vote the "golden rule" which the Head of State wishes to inclusion in the Constitution. For this he needs the votes of 3/5èmes Parliament meeting in Congress.

Wall Street opened sharply higher Friday's session, the day after its worst session in more than two years.

The figure better than expected job creation in July in the U.S., coupled with an unemployment rate slightly down, eased the anxieties of the markets and given them new impetus.

A few minutes after the start of trading, the Dow Jones gained 1.5% to 11,554.5 points, Standard & Poor's 500 index 1.32% to 1215.91 points and the Nasdaq Composite 1.29% to 2589.38 points.

According to figures released Friday by the Labor Department, the U.S. economy created 117,000 non-farm jobs in July and the rate of unemployment has fallen from 9.2% to 9.1%.

Economists on average had forecast 85,000 new jobs.

Values, the way Procter & Gamble has reported an increase in its quarterly results, which pushed up the title of 2.14% on opening.