International Business News

The British telecoms operator BT said on Thursday a 12% increase in its annual dividend, its cost savings and solid demand in broadband that led to its beneficial ; fice and its cash flow despite an overall decline in sales.

BT, which has relied in recent years of spending cuts and efficiencies to power its cash, has also pledged that his dividend increased by 10 to 15% per year over the next three years.

"In what remains a difficult environment, we recorded another year of earnings growth and free cash flow," said CEO Ian Livingston. 

BT, which competes with Virgin Media and TalkTalk, shows a steady improvement in its performance since the profit warnings issued in 2008 and 2009, and because of the strict control its costs.

The full year, earnings from main businesses grew 3% to 6.1 billion pounds despite a 4% drop in sales , to 19 billion pounds (23.65 billion euros).

The cash flow appears considerably higher than projected at 2.5 billion pounds.

BT results were supported by an agreement in March to fill the deficit of 4.1 billion pounds pension fund's staff decided more quickly than before. The announcement was relieved investors by opening the door to a potential increase in dividends.

"It is not possible to renegotiate the pact budget", said on Monday a spokesman for German Chancellor. This ensures that Francois Hollande will be welcomed "with open arms." German Chancellor Angela Merkel (the Bundestag by December 2, 2011).

Germany has raised its conditions Monday to President-elect Francois Hollande, ruling out any renegotiation of the European fiscal pact and all initiatives "growth deficit".

"It is not possible to renegotiate the fiscal pact", which has already been "signed by 25 of the 27 member states of the European Union", which aims to strengthen discipline in public finance management, said the spokesman of Chancellor Angela Merkel, Steffen Seibert, during a press conference.

He was asked about the willingness of Mr. Holland to add a component to the pact on growth. In this regard, Mr. Seibert also reiterated the conditions of Berlin: Germany does not want "a growth deficit, but growth through structural reforms."

Clearly, there is no question for the Merkel government in Europe to promote recovery policies, but to promote the path chosen by Germany and the labor market reforms implemented by former Chancellor Gerhard Schröder .

French President elect had scored on his victory speech by his willingness to "give to the European dimension of growth, employment, prosperity, the future" and explain in Berlin and other partners that "the austerity could no longer be inevitable. "

A little later, Angela Merkel said that Francois Hollande is welcomed "with open arms" during his first visit to Germany, taking place after the handover. "We work well together and intensively," said Merkel at a news conference in Berlin, stressing that "the Franco-German cooperation is essential for Europe and we all want Europe to succeed" .

France Telecom has hardened its dividend policy and its promise of deferred stock repurchases facing a price war triggered by the new entrant Free Mobile on the French market mobile telephony.

The incumbent, who on Wednesday released 2011 results consistent with its objectives, expected this year to give priority to the preservation of its balance sheet in a context of de gradation-than-expected economic conditions.

"2012 is the most difficult year for us," said Chief Financial Officer Gervais Pellissier during a conference call, considering that the group could reach a low point this year e before a possible rebound in 2013. 

"We do not imagine that the price war is very long in France. We started at a price level which is extremely low, "he said

. Free has an entry burst onto the market of mobile phones last month with two offers at bargain prices, forcing its competitors in place to review the rates down a portion of their offerings in an attempt to prevent ; expensive an exodus of their subscribers

. While the group led by Xavier Niel has not yet provided the number of subscriber s, France Telecom said on the other hand have lost 201,000 mobile customers from the beginning of the year and February 15, which represents approximately 0.7% of its fleet of 27 million customers in France

. Requests for subscribers seeking portability to switch operators while keeping their digital ; ro peaked at 150.000 requests per day within two days following the launch of Free Mobile, France Telecom said in a statement, adding that this figure has since been divided by ten.

NET CASH FLOW BACK TO THE 2012

In this context of increased competition in France, which still accounts for half of sales in Orange and more than 50% of its total EBITDA, France Telecom expects a significant decline in its operating cash flow expected to 8 billion euros for 2012, against 9.33 billion last year.

Sensed as a part of investors, the group announced an adjustment to its dividend policy.

The group now plans to pay under the 2012 and 2013 earnings to shareholders between 40% and 45% of operating cash flow for the year. 

The dividend should therefore be between 1.21 and 1.35 euros per share for 2012, instead of 1.40 euros previously promised by the group, Gervais Pellissier said.

Also in order to preserve its financial strength, France Telecom has also decided to postpone the redemption of shares, a time considered in the wake of the sale of the group's subsidiary in Switzerland for $ 1.5 billion.

"We believe that the financial circumstances of early 2012 did not allow to continue in that direction today," said Gervais Pellissier.

"It does not mean that there will be no buyback at France Telecom Orange but not in 2012," he added. 

EUROPEAN OPERATORS UNDER PRESSURE

These prudent measures reflect the challenges facing European telcos to continue to grow in an environment of increased regulatory and competitive pressures.

Telefonica has lowered its target for the December dividend it will pay under 2012 in order to control its debt in a context of sluggish economic growth in Spain.

Analysts said France Telecom could have even less hesitation than the dividend, far more generous, offered by the group did not result in a brilliant performance of its stock price in 2010 and 2011. 

"There is no doubt that the group saw little point in paying a dividend for which it has received little or no credit," say analysts at Bernstein Research in a note .

At 10:20, as the advance of 1.53% to 11.62 euros. Since the beginning of the year, it posted a drop of 4.0% compared with a decline of 0.85% of the telecoms sector index.

The full year 2011, the Group generated a turnover of 45.28 billion euros, against 45.27 billion expected on average according to Thomson Reuters I / B / E / S.

The adjusted EBITDA was $ 15.083 billion, giving a margin of 33.3%, limited decline of 1.1 points, thanks in particular to the resistance displayed by activities in France, despite already increased pressure on prices, most operators have anticipated since last year the arrival of Free. 

The group has seen its share of conquest in broadband up to 30.5% in 2011 thanks to the success of its offers "quad play" Open totaling 1.2 million customers in late last year.

Responding to the call of an Inter CFDT-CGT-FO-CFE/CGC, workers came on Monday morning in the large office of the factory, the cry of "Mittal, we want to work". Workers entered the "big offices" of the ArcelorMittal plant Florange Monday, February 20, 2012

Between 100 and 200 steelworkers have invested to 8:00 Monday in quiet premises of the factory management ArcelorMittal Florange (Moselle), said a journalist from AFP. Responding to the call of an Inter CFDT-CGT-FO-CFE/CGC, workers, mostly helmets, entered the "big offices" of the factory, shouting "Mittal, we want to work ". Arrived on the upper floors deserted by senior management and executives, they quickly made their flags and their richly colored jumpers in the great hall of the steering committee of the institution.  

"Today, Florange is ours, Florange is yours," he told a trade unionist to the cheers of his comrades. "As of right now, management is technically unemployed. We will remain in these offices as the blast furnaces of the plant will not restart," added the head of the CFDT, Edward Martin. "Today, we are masters on board," he said before a forest of microphones and cameras. "That candidates (President of the Republic, ed) who claim to love plants undertake to ensure the survival of the site," he said, promising "at least one action a week until May 6" date of the second round of the presidential election.

"The state has saved the Lejaby. Must intervene for us," said the official FO, Walter Broccoli. "If Mittal wants more Florange, let him go … But there is no way to dismantle the plant. We will not let him do it, "continued, looking very determined, trade unionist. Around 10:00, the protesters were comfortably installed in the administrative site where Moselle boiled coffee makers and where they concocted sandwiches. On sunny square, union officials chained interviews to television channels, one of which, NHK, had sent a team from Japan. By late morning, tents began to be erected on the lawns of the plant to "formalize" the occupation, said John Mangin, head of the CGT. "This will be the village of resistance where workers can come and talk, talk about their fight and defend their work tools," he added.  

This occupation is the first step of "nightmare" promised by unions to the government after management of ArcelorMitall announced last week that the two blast furnaces would restart the site does not in the second quarter. For unions, this decision would announce the "programmed death site" which employs some 5,000 people, including 3,000 permanent contracts. ArcelorMittal, which has recently decided the final closure of blast furnaces in Liege (Belgium) and Madrid, on the contrary that Lorraine ensures it is only a temporary standby necessary due to insufficient demand.

Rexel said Friday propose a dividend increase of 62.5% to € 0.65 per share for its fiscal 2011, the group that last year's record profitability including a 39% growth in net profit to 319 million euros.

In the current context of uncertainty, Rexel said he was confident of its ability to continue to generate organic growth in 2012 of its sales outside "copper effect" than the weighted average growth e of the GNP of the countries where the Group operates. 

"In this context, Rexel is also expected in 2012: to maintain a margin EBITA (earnings before tax, interest and depreciation) to a level at least equal to 5.7% achieved in 2011, generating a free cash flow before interest and taxes of around 600 million euros ", the group announced in a statement.

The EBITA margin rose 70 basis points last year, a figure better than expected since November, Rexel had repeated expect for 2011 an increase of at least 50 basis points of its EBITA margin in constant and adjusted. 

"In 2011, Rexel achieved very good performance: organic growth was strong, profitability reached a record high and we strengthened our presence in markets emerging while continuing deleveraging of the company, "said in a statement Jean-Charles Pauze, CEO of Rexel.

At the end of 2011, net debt of the company was reduced from 195.1 million euros and amounted to 2.078 billion euros, reducing its debt ratio on EBITDA (earnings before tax, interest, depreciation and amortization) of 3.19 to 2.4. 

The turnover of Rexel emerged up 6.3% to 12.717 billion euros, driven by strong growth of 7.4% of its business in North America while in Europe activity of the company rose 4.5%.

In an interview with Reuters, Jean-Charles Pauze, which will be replaced as head of the group by Rudy Provoost, had said in early January that Rexel was on track to double its sales business in emerging markets between 2010 and 2013, particularly through external growth.

The title, which lost 0.46% Thursday to 15.25 euros, has gained 15.5% since the beginning of the year, enabling the group to exceed four billion euro market capitalization.

Sanofi announced Wednesday a rise in earnings in the fourth quarter of 2011, helped by the consolidation of Genzyme, reducing its costs and its strong performance in emerging markets and diabetes ; you.

However, affected by the loss of its patents of some of its major drugs including the anticoagulant Plavix, the group confirms that it expects a decline in earnings per share 12% to 15% at constant currency in 2012, an objective in line with its medium term plan. 

In a conference call with reporters, the CEO of Sanofi Chris Viehbacher stressed, however, "that beyond the last brevetaires expirations of certain products in 2012, the strong performance of growth platforms, reduced exposure to future losses patents and progress in R & D position (Sanofi) for a period of sustainable growth ".

As expected, the loss of patent for Plavix and Avapro in the United States should reduce the net income from about 1.4 billion euros in 2012. 

In addition, the American justice confirmed Tuesday the authorization to market a generic version of Lovenox anticoagulant, denying the accused the French laboratory that re U.S. FDA regulator for not having followed the procedures.

Lovenox was one of the top-selling medicines by Sanofi, with sales of close to four billion dollars a year, before the arrival on the market a generic version ; summer 2010.

Meanwhile, Sanofi and its U.S. partner Bristol-Myers Squibb announced that Apotex had paid them 442.2 million worth of damages to which she had e ; tee convicted in the trial for patent infringement of Plavix. 

DIVIDEND TO 2.65 EUROS PER SHARE

Sanofi also announced that improving the production of Genzyme was "well underway" following approval by the U.S. and European health authorities at the new , Framingham, Massachusetts.

The company said that its U.S. subsidiary continues to hope for an improvement of their supplies of Cerezyme (Gaucher disease) as of this month and that globally, the return Total to normal production levels of Fabrazyme (Fabry disease) begin in the second quarter.

Fabrazyme and Cerezyme generated more than $ 1.7 billion in revenue in 2008, before their sales collapse by 29% in 2009 and another 25% the year following a failure in industrial. It is in this context that Sanofi Genzyme acquired in spring 2011 to more than $ 20 billion.

Oddo Securities analyst Jean-Jacques Le Fur said that "the results and predictions of Sanofi are in line with expectations. This means that the group holds out its roadmap and this bodes well for the future "

. the fourth quarter 2011, Sales of Sanofi rose 8.8% (+9.2% at constant exchange rates) to 8.508 million euros (8,535.6 million consensus), operating profit by 11.3% to 2.828 million (consensus 2931.5 million) and net profit by 13% to 2.077 million (consensus 2071.7 million) or 1.56 euro per share (1.55 euro) ..

……. Sales Genzyme, consolidated as of 1 April 2011, rose 7.7% to 2.395 million euros … Under

…… fiscal 2011, Sanofi proposes a dividend of 2.65 euros per share, against 2.50 euros in 2010 ….. ….

Last night was the Superbowl in the U.S.. And as so often with the Americans, unreason was de rigueur. Back on the key figures of the sports event of the year. Giants celebrate their victory against the Patriots after the 2012 Superbowl.

The final of the football championship, best known as the Superbowl, was seen yesterday's New York Giants beat the Patriots in Boston. But the event goes well beyond the sporting aspect.

120 to 500 million viewers

This is the average global audience for a Super Bowl, 90 million Americans. The event is broadcast in 182 countries, representing 88% of world states. It is accessible to a billion people.

$ 250 million in a night of pub

In one night, NBC will have gained about a quarter of a billion dollars. What return on the purchase of human competition, prohibitively expensive. Beginning in 2014, and ESPN TV will pay directly besides $ 6 billion a year to broadcast the entire season. During the Superbowl in 2012, the 30-second spot was coined to 3.5 million. In total, nearly 70 advertisements were broadcast. They are a spectacle in themselves so that some viewers would not watch the match for them. It must be said that brands compete imagination to suggest that the pub looks great. Apple is the gold standard and the video for launch of the first Mac, directed by Ridley Scott and aired at the Superbowl of 1984:

YouTube, the Volkswagen commercial, aired during the Super Bowl 2011, featuring a child dressed as Darth Vader, has amassed 50 million views. This figure is in addition to more than 100 million live views during the game.

This year, the German mark was at it again, with a humorous result. Discover a best of pubs in this Superbowl 2012:

2500 dollars instead

The minimum charge to attend the event. Prices that can rise to $ 800 000 in big suites! In total, there were about 70,000 in the aisles of the stadium in Indianapolis.

4:30 to show …

For one hour before the match only. The Superbowl is more than a sporting event. This is a varied spectacle, with the long awaited national anthem sung by a celebrity (Kelly Clarkson yesterday), but especially the concert halftime. This year, it's Madonna who provided a performance for 30 minutes, whereas in a classic football game, the pause is only 15 minutes.

88 000 match bonus dollars

the amount each player has received the Giants, winners of the match, knowing that a football team has 53 members. The losers, they have still pocketed $ 44 000 each.

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.

Paris Mayor Bertrand Delanoe announced Monday his intention to devote one third of the investments of the city housing next year. Housing is the recurrent problem of large cities.

One third of the total investment in the city of Paris will go to housing and 6,000 housing units will be funded in 2012, announced Monday the mayor of Paris Bertrand Delanoe in Paris with the Council in 2012 budget guidelines based on "solidarity". Before "crisis," said the mayor of Paris, the city "will intensify its efforts this year to promote solidarity and innovation."

As for 2011, "more than 2 billion euros" will be devoted to solidarity: "It is necessary to preserve and develop the diversity of Paris' Bertrand Delanoë argued, often accused by the UMP Paris to promote "most helpful and easier."

"Housing is about a third of our total investment. 6,000 housing units will be funded in 2012," Mr. Delanoë has announced. For the poor, "we will enhance our efforts to create, by 2014, 2,000 places of emergency shelter," pointing out that this type of accommodation 1700 "have already been funded." He also indicated that 940 nursery places would be funded in 2012 and the extension of the tramway to the door of the chapel is completed.

The UMP denounced the tax increases

On behalf of the UMP, Mayor Jean-Francois Legaret I found that these budget guidelines reflected "disarray" and denounced a "hype tax". "You have increased taxation in all its forms" said Mr Legaret who cited the "increasing every conceivable tax levied on Paris.""During that time, transfer taxes, which are not an adjustment value, represent an 1/7th of all revenue of the city and will likely reach one billion euro of revenue" he said .

For his part, chairman of the NC Yves Pozzo di Borgo attacked the "tax snake that chokes strangle businesses and households," and cited a study of the Paris workshop planning (APUR), which he , has "made the finding of an increasing gap in the territory with a poverty rate of 13.9%, to a regional average of 12.1%." The 2011 budget of the City of Paris in the amount of 7.7 billion euros, is the most important of all French communities.