International News

Corroborating sources, the board of directors of French pharmaceutical group has voted the principle of an offer to repurchase the U.S. Genzyme. Management has the green light to offer up to $ 70 per share in the specialist biotechnology, which would be valued 18.7 billion dollars.

Currently, Genzyme is worth 18 billion dollars in stock. The stock has climbed nearly 26% in one week, supported by an initial informal approach from Sanofi-Aventis, rejected by Genzyme, and the interest of many suitors, as the U.S. investor Carl Icahn. The Reuters news agency says that Genzyme shareholders are willing to accept a redemption price of between 70 and 80 dollars per share.

Sanofi-Aventis, which must publish its results today, pay heed to potential targets across the Atlantic to develop after the expiration of several patents on several key drugs payday loans for bad credit. The laboratory has notably warned its results last week, after U.S. approval of its generic anti-coagulant Lovenox star. The anti-cancer Eloxin has already been impacted by the launch of generics in the United States. The patent on Taxotere, which must fall to fall across the Atlantic could bring down the sales of that other anti-cancer Sanofi-Aventis. To cope with this increased competition, the group renews its strategy and multiplied redemptions.

Reaction monitored Exchange

At the Paris Stock Exchange on Thursday, as investors judge this new proposed acquisition of Sanofi-Aventis that its interim results to be published before the market opening. The title of the group fell by nearly 25% since the beginning of the year.

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Decisive day for the mobilization against the pension reform. The objective of unions is clear: to gather more demonstrators than previous events, which led to another since the beginning of the year. On 27 May, between 395,000 and one million people (according to the police and unions respectively) took to the streets.

Since then, times have changed. The government has announced plans for pension reform last week. A text that unions have unanimously considered "unfair." Guests this Thursday on RTL, the secretary general of the CFDT, Francois Chérèque, regretted "being faced with a country that is willing to change, but change in the wrong direction." Therefore, he hopes an "exceptional mobilization" for this inter-action day.

"The hope was to surpass the one million demonstrators.I think that this figure will be exceeded is obvious, "said François Chérèque, saying that" perhaps two million people "will demonstrate this Thursday. And this, especially since "more than 200 gatherings" are already planned across France. And calls for strikes in the business (as in Saint-Gobain, Michelin, Total, Airbus, BNP Paribas, L'Oreal, France Telecom, La Poste …) have followed since the beginning of the week.

At the Post, some 19.86% of staff were on strike Thursday morning, said the Directorate in a statement against 12.80% last May 27. For its part, the direction of the station has recorded 39.8% of strikers among the railway workers in mid-morning, against 23.2% during the last day of action interprofessional.

The teachers were 31.9% to strike Thursday in schools and 10.3% in secondary schools (including 18.7% in colleges), according to figures from the Ministry of Education published in mid-morning. The schools were little affected, the degree requires organization. On the day of 23 March, the mobilization in the primary had reached 29.8% of strikers, the ministry said.

Another sector to have mobilized public broadcasting had a strong participation in the strike on Thursday. Several television and radio have been deleted throughout the morning. The directions of France Televisions and Radio France, however, had not reported figures to the mid-day. Finally, the publication of several regional newspapers has been disrupted. To major national newspapers will not seem morrow Fridays.

For the secretary general of the CGT, Bernard Thibault, the one million demonstrators should be passed this afternoon. "If that's not enough, we have the sequence of ideas, this is not the end of a cycle, only the announcement of a bill," he warned in a interview with the newspaper 20 Minutes. "I've seen governments fall as safe as this one, particularly on the subject of pensions, has finally found the union leader.

If Nicolas Sarkozy pledged on Tuesday to be "tuned" during discussions with the unions this summer, and it spoke of "possible developments" of the reform bill late last week, some key points text does not change as raising the legal age to 62 years in 2018. And, whatever the mobilization this Thursday."The mobilization will certainly strong, we expect, we do not fear," warned the Labour Minister, Eric Woerth.

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While France has 75,000 Internet subscribers high-speed fiber optics, Maxime Lombardini, Chief Free said that France has everything to expedite the arrival of this new technology into homes. While some question the framework put in place in France to deploy fiber, Free hand, considers that promotes investment and competition and allows the French to receive subscriptions less expensive in Europe. Free calls within the regulation, its competitors to invest with him in fifty common.

LE FIGARO. – France takes it from behind in the deployment of fiber optics?

Maxime LOMBARDINI. – Quite the contrary, France is ahead. The advent of fiber optics in homes is accelerating.After three years of work, France is at the forefront in Europe, thanks to a very successful framework that enables rapid deployment of fiber networks without digging sidewalks and minimizing interference in the condominium thanks for sharing. In addition, this framework allows consumers to freely choose their provider and gives them the cheapest in Europe. In France, subscriptions to fiber costs 30 euros a month, against more than 100 U.S. dollars. Operators will deploy fiber in the condo together for 5 million homes in the dense areas. Four operators have begun deployments significant.Result, there will be at the end of the year more than 100,000 subscribers to the optical fiber (FTTH), and hundreds of thousands in late 2011.

Why do operators do not they do more advertising for the fiber?

We do not launch national campaign as the fiber is not everywhere. But when a neighborhood or a town is connected, we inform our ADSL subscribers and the people that for the same price, we offer very high-speed fiber. They have therefore a very fast internet access. Other immediate benefits they can receive television via their optical box on multiple televisions, enjoy high definition, the catch-up TV, 3D programs, etc..

France Telecom has called on its competitors to co-invest with him on a fifty Commons. Free is he leaving?

Sure.We have responded positively to France Telecom, which will pose a dedicated fiber to each home to Free bundle. For Free, this represents an investment of tens of millions of euros. We ourselves will today call for co-investment in more than 50 towns, including Paris, Nice, Marseille, Toulouse, Nantes, representing nearly 3 million potential catch. We ask that interested operators to respond to us by early July.

How much will you invest?

In fiber optics, Free has taken 2 million and 1.5 million work in the study. I confirm that we have 4 million homes connected with fiber in 2012. We signed agreements with condominium units representing 350,000. Free has invested 350 million euros in the fiber to date in 2010 and will invest over 150 million. The creation of direct and indirect employment is significant.All this shows that we are in a phase of very concrete investment and our motivation to deploy broadband is strong.

This hampers Does the deployment in parallel, on your mobile?

No. Free has the means to pursue these two sites in parallel: in 2010, over 2 billion turnover, the group will spend more than $ 750 million to capital spending, while remaining one of the least indebted telecom operators to Europe.On mobile, the deployment is well underway, and we, again, created over 1,000 jobs directly and indirectly.

When towns and villages can they expect to be connected to fiber optics?

If governments continue to encourage all operators to invest and participate in construction through big loan, we can begin to connect the less dense areas in 2011.

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According to Les Echos, Veolia Environment and Suez Environment, the two companies negotiating with SEDIF (Union Water Ile-de-France) for a giant contract to supply water to 144 municipalities in the Ile-de-France, outside Paris, have both received a letter.

Following this letter, only Veolia was invited to continue the development of the contract. This means that the number one global services to the environment is only now vying for the contract of ten years, possibly extendable to twelve years, which shall become effective on 1 January 2011 cash advance america. Suez Environment has indeed confirmed on Tuesday he was excluded from the tender. Veolia Water, part of Veolia Environnement holds the contract since 1923.

While the Tokyo Stock Exchange is closed until Wednesday included due to public holidays in Japan, the Asian markets all move in the red on Monday.

Hong Kong drops 1.36% to 20,821.20 points, 0.91% cedes Taiwan to 7391.74 points, Seoul lost 1.22%, 0.58% in Sydney coward 4779.50 points, fell by Bombay 0 53% to 17,464.90 points and Singapore shows a decrease of 0.98% to 2945.34 points.

Despite the activation of a massive bailout of Greece announced on Sunday by finance ministers of the euro area, markets do not regain confidence. They are worried about further increases in reserve requirements of banks in China, 50 basis points. Banks will therefore retain 14-17% of their loans in chests. This measure, which takes effect next May 10, is supposed to limit loans to individuals and businesses to avoid the overheating of the Chinese economy.This is the third increase since the beginning of the year.

The banking and real estate values at half

Consequently, the evolving Chinese banking stocks down sharply, on Monday, including Bank of China, which fell by 1.72%. Regarding property values, China Resources fell 4.97%, Shimao Property Holdings sells 2.47% Agile Property Holdings or drops 2.17%.

A barrel of oil above $ 86

Crude prices were up Monday in Asia after the announcement of the plan of aid to Greece and because of a probable decline in U.S. production in the wake of the oil spill in the United States.

In morning trading, a barrel of light sweet crude for June delivery took 16 cents to 86.31 dollars, while Brent North Sea with identical maturity, gained 13 cents to 87.57 dollars.

France Telecom said Thursday it had made in the first quarter 2010 revenues down 2% to 10.96 billion euros, in line with market expectations.Profits from his business – not amortissment, charges and taxes (EBITDA) – stand down 4.8% to 3.76 billion euros.

The amount reported sales, which fall into falling 2.7% on a comparable basis, excluding the activities in the United Kingdom, merged with T-Mobile, the French operator said in a statement.

"The group has again demonstrated its ability to maintain its performance in terms of turnover and profitability in an economic and regulatory environment remains difficult," said the CEO of France Telecom, St?phane Richard, quoted in statement.

The operator maintains its 2010 goal of cash generation of around 8 billion euros, "before possible acquisition of new frequencies and without taking into account the impact related to the business tax in France before 2003" .

In its home market, France Telecom has recorded a turnover of 5.77 billion, a decrease of 2.4% (-2.1% on a comparable basis). Spain is even worse, with sales decline of 3.3% (-2.8% on a comparable basis).

In contrast, "Africa and the Middle East are growing more than 7% (on a comparable basis) due to" the rise of our business especially in C?te d'Ivoire, Kenya, Senegal and Uganda, " said St?phane Richard.

On Tuesday, France Telecom was willing to pay 300 million dollars, or about EUR 224 million, allowance to Orascom Telcom under its agreement with the group in Cairo to settle their dispute over Mobinil.

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In an email sent Wednesday to news agencies that Credit Agricole has made the announcement. The financial institution said its commitments related to the Greek state reached 850 million euros, 600 million for its Greek subsidiary Emporiki. No further comment was made.

The news comes as the crisis Greek climbed a step, revived by the relegation of the country score in the category of speculative investments by the rating agency Standard & Poor's. Many analysts believe that Credit Agricole is one of the banks most exposed to the current crisis in Greece.

More generally, according to the Bank for International Settlements (BIS), the French banks in Europe are most concerned with exposure estimated at 75.12 billion dollars (57 billion euros), followed by German banks with exposure estimated at 45 billion dollars (34 billion euros).

French banks are the only institutions to have bought Greek Emporiki to Credit Agricole and Societe Generale for Geniki. The latter has not yet discussed the amount of its commitment.For its part, the general manager of BNP Paribas, Baudouin Prot, said Wednesday that his institution's exposure to Greek banks was "absolutely negligible" fast cash loans.

The sector battered stock market

The markets are in any case a very dim view of the involvement of French banks in a country attacked by the rating agencies. Investors fear that such consequences could lead to default or restructure the debt of Greece.

Results: The bank is breaking titles in stock. The action of the Credit Agricole fell 3.41% Wednesday to the Paris Stock Exchange, after declining more than 7.6% during the session. It lost 9.57% over the five days and 10.60% since the beginning of the year.

Societe Generale has limited the damage on Wednesday with a decline of 0.33% in closing. But the fall is much heavier since January 1 of that Credit Agricole, with a decline of 16.42%.

For its part, BNP Paribas dropped 3.48% on Wednesday at the close of Paris, and 8.80% since the beginning of the year.

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After two sessions of sharp decline, the Asian stock markets resumed colors Tuesday. In Japan, the Nikkei 225, which had fallen below 11,000 points, it brings back, gaining 0.62%, to 10,976 points.

In Hong Kong, the Hang Seng up 0.8% at 21,576 points. The S & P / ASX Sydney is 0.33%, to 4931 points. And the Bombay SE Indian wins 0.34%, to 17,459 points.

Bank stocks and airlines have regained some lost ground in recent days, says one local broker, because the complaint against Goldman Sachs for some, and the ash cloud for other

The day before, Wall Street has ended without direction, while European stock markets closed in decline consequent.

The charges against Goldman Sachs continues to be central to the concerns of investors worldwide Fast Cash Without a hassle.The investment banking side has explained to Congress. Sec could go for other banks. And AIG could also file a complaint against Goldman Sachs.

Toyota still reminders

Toyota (-1.89% to 3.625 yen) announced Tuesday the recall of 34,000 worldwide 4×4 vehicles that could run off the road if driven too fast around corners, a new concern for the automotive giant Japanese also regard the Lexus, its luxury brand ultra-lucrative.

This comes as yet another reminder Toyota has agreed to pay a record fine of nearly $ 16.4 million in the United States, where he is accused of being slow to call on other cases of defects.

Since Tuesday, investors are moving away from safe-haven assets following the various signs of recovery in the global economy. The success of Intel promote appetite for risk. What will weigh on the dollar. Just as the maintenance of the speech by the Fed, which promotes interest rates still very low even for long.

EUR / USD – Sessions hectic since early April

After the Easter weekend, there has been a depreciation of the euro against the dollar in a climate of distrust of so-called risky currencies. The operators were cooled in their appetite for risk because of their fear on the issue of Greece. The single currency has lost about 220 pips * from a quotation of dollar 1.3500 1.3282 U.S. dollar on Thursday at 10am (lowest of the week).

Then the tension on the markets have weakened.Speech by Jean-Claude Trichet, president of the ECB (European Central Bank) last Thursday, has eased the financial world. He said he pursued the policy of low interest rates up to 1% in the euro area. And it has said that "Greece was able to reduce its deficit" and had already started to employ strong measures.

Nothing better to give a boost to the euro. The last weekend, offering assistance to 30 billion euros – Athens does "not want to use" – the European Union gave a big blow oxygen, allowing the euro to rise around 1 36 dollar on Monday.After two sessions of stagnation (Monday and Tuesday), the exchange rate has increased again, bolstered by renewed investor optimism about the strength of the global recovery due to favorable economic statistics, while comments Fed chairman on a forecast of "moderate growth" have weighed on the greenback.

On Tuesday, the foreign exchange markets have welcomed the issuance by Athens Treasury bills.And on Wednesday, Ben Bernanke (Beige Book) reiterated Wednesday that the rate of the institution should remain close to zero, at which they are set since December 2008, for an extended period, dismissing speculation of an anticipated tightening of Fed monetary policy, which has given new impetus to the euro.

As expected by analysts Realtime Forex Tuesday, which saw the euro test the 1.3541 support for better back, it is mounted to 1.3667 to 18 hours.

CDN / JPY – Same trend

Nippon side, the euro followed the same "trend" * weekly against the yen. The single currency began a decline of more than 400 pips against the yen. On Monday, the euro / yen was quoted at 127.70 to touch a low of 123.40 yen. But from the response Trichet yesterday, the euro strengthened to 125.60 yen to return.

The yen fell for the sixth straight session against the euro, with one course from Wednesday to 127.07 yen against 126.83 yen the day before.

GBP / USD – Sterling held up better than the euro

Across the Channel, the BoE (Bank of England) has also left interest rates unchanged at 0.5%, indicating that this was not the time to make a recovery rate of payday loan lenders.

Monetary side, the pound sterling, however, fared better than the euro against the dollar. Like British macro-economic figures emerged this week (GDP 0.4% and manufacturing output up 1.3%), the pound has evolved into a "range *" between 1.5130 and 1.5320 dollar.

* The cable is able to break this channel by treating up to 1.5473 dollar.

Against the yen, the pound again the delay and found almost the level of 144.21 yen on Monday.

CHF / EUR – Swiss Franc still going strong

On Wednesday, the Swiss franc 1.4362 per euro symbol. This is a very strong for the Swiss franc, which traded in 2009 almost all the time between 1.50 and 1.54.

Since the beginning of the year, the Swiss Frabce climbed more than 5%. This is not the business of the Swiss Central Bank, whose foreign exchange policy is heckled.

The yuan under the spotlight of the world

On Wednesday, Ben Bernanke, who appeared before the Joint Economic Committee of Congress, reiterated that "the United States must continue to press China to bring it to revalue its currency, the yuan."Barack Obama this week's encounter homolgue Chinese President Hu Jintao on China's trade deficit background.

Most economists agree that the currency is undervalued – by 40% according to analysts and has been used to obtain an economy more oriented toward exports to domestic consumption.

On the one hand, in case of revaluation, China would be ready to counter the speculative bubbles that threaten, and inflationary pressures. But then again, remember that a more expensive yuan will be more expensive for the "Western" to fill all Chinese products.And they will have the effect of melt exchange reserves in dollars of the Chinese, which does allow them to buy as many more U.S. Treasury Bonds, and therefore finance the debt of the United States …

* Definitions

• Forex: For Foreign Exchange, or foreign exchange market

• Technical analysis: analyst or chartist. She studied graphic evolution courses. The research in the historical price behavior involved in a situation to predict the evolution of financial securities.

• Pips: Price Interest Point. Unit rating for foreign currency. It designates the last digit used: in the case of the euro, the fourth decimal place.

• Trend: trend.

• Range: range.

• Support: value as the price has very little chance to pass down.

• Resistant: value as the price has very little chance to overtake on the rise.

• EUR: Euro, USD: U.S. Dollar, or U.S. dollar JPY Japan Yen or Japanese yen, GBP: British Pound, CHF: Swiss franc.