International Business News

Eiffage yesterday confirmed its forecast of sales for 2010 thanks to the growth of its backlog and achieved a 40% jump in net profit group share biannually.

The eighth group of European construction and concessions generally expected that sales suffer in 2010, and 2009, the reluctance of public procurement, while the branch motorway concessions observes it, a gradual recovery its activity.

"For now, we have been heavily affected by margins than they were at the top of the previous cycle in 2007, but we do not know when they ascend," said CEO Jean-Francois Roverato at a meeting analysts.

He noted that the shift of the French market over the last ten years, to concessions and public-private partnerships (PPP) would generate a "return to better fortune" in some time."The question is when," he added.

Eiffage, best known for the Millau Viaduct and the future stadium of Lille, has achieved a net profit after minority interests of 70 million euros in the first half thanks to the reduced cost of debt.

The operating profit has however declined by 2.6% to 412 million, within the scope of the downturn in work due to a climate of increased competition.

Alongside Eiffage, Bouygues has raised its annual target of revenue, thanks to TF1 and real estate, while still waiting for a 5% decline in construction.

Vinci, the world leader in construction and concessions, has published its interim results next to expectations, particularly thanks to the improvement of traffic conditions.

NEXT ISSUE OF THE OFFER OF WITHDRAWAL ON APRR

Eiffage, owner of motorway networks APRR (Autoroutes Paris-Rhin-Rhone) and Area (Rhone Alps), has already published July 30 in sales for the second quarter, emerged up 2.2% to 3.547 billion euros.

The company said that the outcome of a bid withdrawal filed on APRR Eiffarie early July by the joint venture between the Australian Eiffage and Macquarie would be published on September 24.

The offering will enable Eiffarie hold 100% of APRR and will be accretive to net income of the group in 2010, says Eiffage.

PRPA reported Friday a net profit increase of 16.3% on back of recovery in traffic, especially trucks.

The group is held June 30 to 26.3% by its employees and 20% by the Strategic Investment Fund (ISF), the float is 35.7%

The action Eiffage closed down 1.34% to 35.99 euros on Tuesday, giving a market capitalization of 3.24 billion euros. It has lost 8.5% since the beginning of the year.

Oil prices had closed up on Friday for the third consecutive session on the New York market, as investors were reassured by statements by Fed Chairman on possible new measures to support the economy if necessary.

The October contract on the U.S. light crude closed up 1.81 dollars, or 2.47%, to 75.17 dollars a barrel on the New York Mercantile Exchange.

At the time of closing in New York, a barrel of Brent crude advanced $ 1.70, or 2.27%, to 76.72 dollars.

On the whole week, the contract on crude grew by $ 1.71, or 2.33%, signing up after two consecutive weeks of declines.

The Federal Reserve Chairman United States, Ben Bernanke said Friday that the economic recovery had slowed more than expected and the Fed was prepared, if necessary, to adopt additional measures to support the activity.

Prices were also supported by redemptions of short positions against the threat of tropical storm "Earl", which moves in the Atlantic and could become a hurricane by Sunday.

Concerns over Hurricane Danielle "were however attenuated as it swirls currently above the Atlantic, far from shore, according to the U.S. weather service.

Major European stock markets finished higher Wednesday for the first time in over a week, boosted by banks and U.S. companies quarterly results.

The Paris Bourse closed up 0.75% to 3493.92 points.

While the results of their strength tests will be published Friday, banking stocks were among the most requested on Wednesday.The Stoxx index of European banking core values thus gained 1.01%.

German Chancellor Angela Merkel said that resistance tests conducted with European banks to help restore confidence in the financial sector.

The maker of Durex condoms and Scholl sandals SSL International has jumped from his side of 33.45% after the announcement of its takeover by the British household products and health Reckitt Benckiser for 2.5 billion pounds ( 2.97 billion euros).

The American group of consumer products Procter & Gamble has decided to suspend television advertising campaign for its Pringles brand potato chips with French footballer Nicolas Anelka, "he said Monday in a statement.

"Following recent events and to ensure that this film is misunderstood by the public, the Pringles brand has decided to suspend its television advertising campaign," the statement said.

"This is indeed focused on the festive side of football and is no longer relevant given the circumstances," he added.

Nicolas Anelka has been returned Saturday from the France team after, according to the press, insulted the coach Raymond Domenech and refused to apologize publicly.In protest, the players refused to train for the match on Tuesday against South Africa, decisive for the Blues.

The sign of restoration Quick was the first Saturday remove advertisements containing the Chelsea player.

The Chinese growth model, based on a docile workforce and cheap, is it threatened? The strike in Chinese factories of Honda and suicide clusters among the subcontractor Foxconn electronic, seem at least symbolic of a turn. These two events led to strong wage increases. And Beijing has validated this finding of a lack of remuneration in deciding dramatically Friday to raise the minimum wage by 20%. Twice that during the normal annual adjustment.

In a country accustomed to explosions of anger – with 127,000 protests in 2008 – and where information is locked, it is unclear whether they had the same impact in other times.

240 euros to live in Shenzhen

Until recently, indeed, the authority said that this kind of slippage occurs only in "capitalist" countries.But Premier Wen Jiabao has officially acknowledged the existence of a "certain level of social tension." It is also not a coincidence that the budget for public safety has increased significantly this year. But power is also well aware that the inequalities of wealth, rather than decreasing with the crisis has intensified further.