International News

How to make the Greek economy to become as competitive as the German? Nothing simpler. "I guess the teachers of vocational schools and skilled craftsmen to retire would be willing to be sent (in Greece) fixed-term" is to suggest the European Commissioner for Energy, German Günther Oettinger in an interview with the Hamburger Abendblatt. "We hope that the German economic culture will allow transfer to Greece," said simultaneously the Minister of Economy, Philipp Rösler, also Vice Chancellor Merkel's government as head of the Liberal party.

The Minister of barely 38 years of Vietnamese origin, embodies the virtues of miscegenation and he is proud payday loans for bad credit. Philipp Rösler considers that there is no reason why the methods used to shore up the former communist East Germany do not work in favor of Greece.His words, the hints of cultural imperialism, appear a bit naive. But they clearly reflect a large part of public opinion in Germany. And after all not ready do we not have to Jean Monnet, one of the founding fathers of Europe, this formula, "If it again, I would start with culture"? It's now or never to try.

"Avada Kedavra!" From the Aramaic "adhadda kedhabhra" meaning "that the thing be destroyed", the magic world of Harry Potter describes perfectly how the saga has shelved the James Bond and Other War stars of a economic point of view. On the eve of the release of the eighth and final installment of the series in dark rooms ("Harry Potter and the Deathly Hallows Part 2"), the figures give the spin: in total, the first seven films have generated some 6 , $ 4 billion (4.4 billion euros) in revenue worldwide, according to the U.S. studios Warner Bros. By itself, the first film adaptation in 2001 was worth almost a billion dollars.

Most successful in the history of cinema, the adventures of the bespectacled wizard is also the most successful global publishing.Since the release of first installment, "Harry Potter and the Sorcerer's Stone" in 1997, over 400 million books were sold, having been translated into 69 languages ​​and 200 territories.

Consequence of its popularity, the saga has been an all-out merchandising. In all, video games and other clothing, stuffed animals and candy bearing the image of the heroes of the series would yield more than a billion a year, according to AFP. In June 2010, a theme park has even opened its doors in the United States. Stamped "The Wizarding World of Harry Potter" ("The Wizarding World of Harry Potter"), the attraction has cost $ 200 million, and would experience a growing success since its opening.

20 million books sold in France

Well represented in the saga (including the Academy of Magic Beaubâtons), France has not escaped this wave.According Gallimard Jeunesse, which has an exclusive publishing contract, the figure of 20 million copies sold recently passed. In the dark rooms of the Hexagon, the adventures of Harry made a card, even if the number of entries went out over the decrescendo. The first movie ("Harry Potter and the Sorcerer's Stone") has attracted some 9.4 million entries, against almost 6 million for the first part of the seventh installment.

Olivier Snanoudj, vice president of Warner Bros France, the decline in the number of entries "not surprising" since, over the episodes, movies, like the books have become "increasingly dark ". "As a young child, and by extension their parents or grandparents, came to the movies less," said he. This does not prevent targeting "a minimum" the bar of the six million tickets for the final film in the series."All fans want to see the end" of the adventures of young wizard, he bet.

Gallimard reissued the series in October

Display, advertisements in the press, promotion on the Internet … Nothing in any case been left to chance to boost inflows. Thus, the film was scheduled at the beginning of the school holidays and in the wake of the film festival, a promotional weapon of choice. Highlight of the campaign, a preview was held by Warner Bros. on Tuesday evening at the Palais Omnisports de Paris Bercy. "We installed the largest 3D screen in the world with six projectors, for an audience of 8000 people," recites the vice president of the distributor.

Via this strategy, the distributor looks forward "to revive the cash machine in particular in view of Christmas sales, or special boxes will probably days," slips a specialist.Hand books, Gallimard Jeunesse has relatively good performance of the game first, "the release of the latest installment in the film is likely to boost the sale of books, as has always been the case in the past," said Frédérique haunch, responsible for the communication of the publisher. And to project, announcing a repeat of the saga, in Volume by volume, from the month of October. With the menu, "new coverage to be carried out by the famous English designer Jonathan Gray," she says. Thus, Gallimard Jeunesse renewed the assault of a young audience, "from 8 to 10 years, as we did 15 years ago." On the commercial side, Harry Potter has not said its last word.

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While the crucial talks between government and private creditors of Greece continued the last few hours across Europe, they rose sharply in Paris. Reportedly, the French Treasury and financial institutions have agreed on the night of Friday to Saturday on a proposal that they hope to win their European partners now. Important first step, a highly anticipated meeting of the IIR (International Institute of Finance), which groups 400 banks worldwide, will be held on Monday in Rome.

It will be remembered, European governments have launched negotiations Wednesday with the holders of Greek debt. They are seeking a contribution of banks, insurers and other pension funds to the tune of 30 billion euros, backed by a new extension of Europe and the IMF to Greece.So far, the proposal on the table was simple: the voluntary, private creditors agreed to reinvest in due proportion the debts repaid by Athens over the next three years in new loans Greek to 5 years. It is the "rollover". However, private capital, especially German, had requested that these new loans are guaranteed in one way or another by Europe. But Angela Merkel, German Chancellor, refused this demand, which is to transfer the responsibility of the public an additional part of the burden.

Hence the impasse. The problem for private financiers, is to pay a state that nothing says it will be out of trouble in five years, the plan has expired. Of course, under pressure from governments, banks and insurers could be convinced.But specifically, if the process is not perceived as voluntary, rating agencies may raise the flag of the "default" and the plan falls overboard because the ECB can no longer accept sovereign debt and stigmatized in the refinancing of Greek banks cheap business cards.The French proposal is a parade, making the "rollover" both more attractive and relevant to them and to Athens, by lengthening maturities.

New loans to 30 years

In addition to the original proposal, a working group led by BNP Paribas, in fact, imagined an alternative, opening the opportunity to reinvest only 70% of amounts received in connection with the Greek borrowing fell 50% are allocated to Greek new loans issued this time in 30 years as to 20%, they are placed on what the financial call a "zero coupon", ie a fund invested in securities of high quality self-reinforcing through then cumulation of interests: the piggy bank somehow secures new borrowing Greek, as would have government guarantees.According to the discussions, these borrowings could be long carry an interest rate equivalent to that of Greece pays vis-à-vis its "rescuers" public, with the addition of a variable interest rate likely to be linked to an economic indicator Greek, such as GDP.

In any case, this alternative would yield less per creditor only 50% returned to the Treasury Greek but is likely to attract more people. And above all, by providing funding for 30 years, she pushes the horizon in part refunds for Athens. The French solution began circulating in the corridors of the European Council on Friday. "We received an initial favorable response," says a close case.

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Announced in January, the IPO was expected Groupon. The figures that he has revealed in the record filed Thursday with the U.S. stock market authorities were much less. The website, which plans to raise $ 750 million in stock on a valuation estimated at between 15 and 20 billion dollars, in fact displays significant losses.

Created in November 2008 by Andrew Mason, a student of music, with one million dollars entrusted by entrepreneur Eric Lefkofsky, Groupon offers users to receive promotions from local businesses – florists, beauty salons … – provided that a specified number of Internet users subscribe to the offer. Over 83 million users have subscribed to the service. They were 1.8 million at end 2009. The turnover increased from 94,000 dollars in 2008 to 713,400,000 dollars in 2010.In 2011, revenues could exceed $ 2.4 billion. Growth driven by the acquisition of 13 companies, including Citydeal in Europe.

413 million loss

Groupon losses widen at a rate just as dramatically. In 2010, the net deficit of the site has reached 413 million dollars. For the first quarter of 2011, it already stands at nearly 114 million, says the briefing book. Abysmal losses that already raise doubts as to analysts who fear a new Internet bubble.Sucharita Mulpuru, e-commerce specialist at Forrester, and wondered how can one "lose so much money?" This is crazy with these numbers is that it should model extremely profitable, "he said The Wall Street Journal.

"Groupon has a very healthy business model, based on e-commerce, thus capable of generating cash," said Jonathan Besnaïou, co-founder of Oh My Deal, a site that aggregates and compares the offerings from its competitors and Groupon. "We must not forget that this is a service where the consumer pays first Groupon, which then pays the merchant on the one hand," he recalls.

If Groupon now displays such losses, it is because it invests heavily in customer acquisition – both businesses and users. The start-up business on account 3500 7000 employees worldwide.Considerable labor costs for a startup but can eventually turn into competitive advantage.

Another advantage of Groupon: the site has steadily expanded its offering – one coupon per day to more targeted deals, for example – to stick as closely to the needs of its users. His dedicated service to the mobile, Groupon Now, promises to be the next growth driver Groupon. Andrew Mason, the young CEO of the company, clearly displays the color in a statement of intent that reveals the very special culture Groupon: "As with any young company of 30 months, the road to success is strewn with pitfalls, punctuated moments of brilliance and sheer stupidity of others, "he wrote, convinced that" Groupon is better positioned than anyone to redefine the local business "and determined to focus on" a long term growth. "

Nicolas Sarkozy has opened Tuesday morning the first edition of "e-G8 in Paris. Faced with a thousand decision makers and observers of the Internet – including Mark Zuckerberg, the founder of social networking site Facebook and Eric Schmidt, Google CEO, who made the trip – the president has invited the giants of the Internet to form a delegation to attend Thursday and Friday at the G8 summit in Deauville. Because, for Nicolas Sarkozy, "think the Internet is a historical responsibility to be shared between you (the Internet players, Ed) and we, the Heads of State" have the duty to "recognize the role (the web) in the course of history (…).States wishing to initiate a dialogue with you for a balanced approach might one day be found between your interests, those users who plébiscitent you every day and finally those of the citizens and taxpayers of each nation who also have rights, " the president said. "There is much to do together," he held, inviting them to renew the holding of an e-G8 annually.

The head of state welcomed these Internet giants that have revolutionized the world. Revolution "that belongs to nobody, which has no flag, no slogan, which is a common good," which took place in an "historic" registered "in pacifism." Nicolas Sarkozy also praised the Internet to be a few years become the vector of "unprecedented power of freedom of expression," referring to the revolutions that challenge the Arab region since the beginning of the year.For the head of the state, Internet giants, who have "changed the world just as Galileo, Columbus and Newton, have shaken the foundations of the global economy (they are) become major players" .

Introduce rules on the Web

Still, he stressed the need to control the Internet. "The technology must remain neutral, but the uses are not," he said, arguing that actors do not let it web "convey evil, without hindrance, or restraint" and for the respect of a minimum values ​​and rules on the Web."Full transparency, one that never leaves the man in peace, sooner or later faces the very principle of individual freedom," stressed the French president, arguing that the Internet can not escape "of minimum values, minimum of rules. "

He returned to the issue of intellectual property rights: "I know that the French conception of this principle is different from that of other countries, but nobody should be expropriated with impunity the proceeds of his ideas, his work, his imagination, his intellectual property. "

The Chair recalled that by virtue of that right as creator of those who draw the contours of the Internet have been able to build empires."The writer, director, musician, performer must have the same rights and a fair return for their ideas and their talents."

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The new prime minister, in power since last March, addresses the problem of unemployment, which remains the black spot in the Irish economy. Enda Kenny has presented on Wednesday a package of measures aimed at creating 100,000 jobs over four years.

The plan provides for reduced charges on low wages, a lower rate of VAT from 13.5% to 9% on some goods and services related to tourism to boost the sector and an increase in infrastructure spending for roads and schools. The government also wants to facilitate the upgrading of the unemployed through training programs.

Since 2008, hundreds of thousands of jobs have been destroyed under the impact of financial crisis, the bursting of the housing bubble, bank failures and austerity plans to repeat that the government had to place to contain soaring deficits and debt.In recent years, the unemployment rate has skyrocketed from 4% in 2007 to 14.7% today. The country is also facing an exodus of the population, especially young people, who try their luck in Canada or Australia. After the tutelage of the IMF and the EU, which granted in November a plan to help 85 billion euros in the country, the government faces a budget deficit of 32% of GDP, provides for a very narrow scope.

Rebound in exports

To finance this plan, Enda Kenny has decided to introduce a new tax – 0.6% – on pension funds, which should bring 470 million euros per year, totaling 1 instant credit report.9 billion euros . This has inevitably raised strong criticism in the profession. Growth side, the latest forecasts predict a return to the green this year, after three years of recession.The main institute in the situation, ESRI, reported Wednesday its forecast, anticipating a rise in GDP of 2% this year and 3% in 2012. A result that is nevertheless perspective, because this new dynamism "based entirely on exports," says ESRI report, given that domestic demand will fall further this year. Knowing that this rebound of external trade is linked to many multinationals operating in Ireland. Moreover, the GNP, which does not take into account their business will only grow 0.5% in 2011, according to ESRI.

Precisely for this reason that the Prime Minister does not intend to compromise with its European partners, who demand a higher rate, very attractive, the corporate tax (currently 12.5%) in exchange for a relaxation of the rescue plan negotiated by his predecessor, Brian Cowen."The Irish have made some overtures in that domain," says one good source, however, the French Ministry of Economy. Negotiations could therefore release in the coming weeks.

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Strong rebound in the Paris Bourse. The Cac 40 wins 1.32% mid-term to 4060.20 points. The previous day he had dropped 1.25% due to the deteriorating financial situation of Greece. The trend remains fragile. Investors will follow the show including six months of the Greece of a $ 1.25 billion.

Greece does not discuss additional assistance, sources said Tuesday Greek and European senior, denying a news report that suggested a new plan of 60 billion euros. This information has boosted European values ​​that are returned to the rise in the morning.

On the macroeconomic front, industrial production fell 0.9% in March, according to statistics released Tuesday by the INSEE.Analysts forecast an average 0.4% increase in industrial production.

United States, the import prices in April will be released at 14:30.

On the foreign exchange market, the euro was stable against the dollar on Tuesday. About 11:00 am in Paris, the euro was at 1.4365 dollars against 1.4358 late Monday.

Greece in big trouble, gasoline at record levels

After losing more than 2% Wednesday, financial stocks are at the party on Tuesday. Societe Generale (2.22% to 43.12 euros), Axa (+2.15% at 14.97 euros), Credit Agricole (2.14% to 10.98 euros) and BNP Paribas (+2, 10% to 54.05 euros) had the largest decreases the Cac 40.The rating agency Standard and Poor's downgraded two notches sovereign rating of Greece.

BNP Paribas is expected to formalize Wednesday Pébereau departure from the presidency of the French bank at the end of the year or early 2012, and appoint in his place the current chief executive Baudoin Prot, the Financial Times. The latter should be replaced by Jean-Laurent Bonnafé, deputy CEO of the group.

Accor: + 4.01% to 30.29 euros

CA Cheuvreux has adopted a positive opinion on value."The stock is trading at a discount of 25% compared to that of its European competitors," suggests the analyst, however, maintains its price target to 35.50 euros on the value.

Plastic Omnium: + 7.98% to € 22.60

The Plastic Omnium share is up sharply Tuesday on the Paris Stock Exchange after announcing the acquisition of Rotherma, a leading European manufacturer of underground containers quick payday loans. ROTHERM achieved a turnover of 12 million euros in 2010.

Lagardère: + 1% to 29.26 EUR

Arnaud Lagardère, general partner of Lagardere said at the meeting due to the group maintained its proposed IPO for its 20% stake in Canal +.

Saint-Gobain: + 3.01% to 47.24 euros

The group announced on Tuesday an investment of around 50 million euros in the construction of its second automotive glass plant in China, Qingdao, Shandong Province (east).

While gasoline prices breaking new records almost 1.55 euros on average, earn 1.60% to Total 41.93 euros.

JC Decaux: + 1.47% to 23.49 euros

JCDecaux has significantly exceeded its target on the first three months of 2011 by signing a growth of 7.8% of its turnover but it is more cautious for the current quarter assuming an increase of about 4%.

Saffron: + 2.02% to 26.53 euros, Thales: + 0.34% to 29.80 euros

Safran and Thales should arrive this summer with a tentative agreement on an exchange of assets in the defense wanted by the government, as the chief representative of arming Laurent Collet-Billon, in an interview Tuesday at Les Echos. In a statement, Safran confirms negotiations with Thales.

Sales and general meetings in the program

Atos Origin: -1.8% to 41.54 euros

The IT services company Atos Origin said Tuesday sales down 1.3% in the first quarter 2011 to 1.22 billion euros.For the first half, the group seeks an operating margin up 50 basis points, compared to 6% for the first half of 2010.

Eurazeo: + 1% at 56.76 euros

The investment company Eurazeo in the first quarter revenues stable at 866.8 million euros, but up 5.9% in not taking into account the base effect associated with adverse chain of budget hotels B & B Hotels, sold in 2010.

The turnover in the first quarter of Maurel et Prom, Nexity, Ruby, Alten, Assystem, Devoteam and Eutelsat (third quarter), will be announced after market close.

Note that the general meetings of ArcelorMittal, Lagardere and Havas will be held Tuesday.

The false Renault spy case comes to an end for Matthew Tenenbaum. The youngest of three executives dismissed earlier this year accepted its reintegration into the group, according to the agreement reached with management on Monday. "I can confirm that it is reinstated. It remains to determine what functions, it is being discussed these days, "said Thibault de Montbrial, his lawyer. The other two concerned Balthazard Michel Rochette and Bertrand, they have decided not to return.

The other part is returned Philippe Clogenson. The latter had been dismissed for corruption in 2009, also on the basis of anonymous accusations that proved unfounded. Renault reinstate it next month as director of "business development" Renault Consulting, the consulting division of the group.

Back to the wall

The return of Matthew Tenenbaum Renault may have a bitter taste.A new audio document, published by L'Express on Tuesday, makes indeed account for the severity of the direction towards him during the meeting on 3 January with Christian Husson, legal director of the company. That day, part learned with amazement accusations of industrial espionage and the dismissal proceedings against him.

Confident Christian Husson Matthieu Tenenbaum launches: "We know that you have committed serious acts, unethical at Renault, and constitute criminal offenses. You'll leave here earlier with a layoff conservatory. The latter seems stunned: "I do not see at all what you mean." Then follows a real game of ping-pong between the two men Proceedings:

– "I think you know very well," said Christian Husson.

– "No! "Replies Matthew Tenenbaum.

– "Yes, yes Matthew …"

– "We know each other!"

– "Of course we know each other. But here, we know "

– "But you know what?"

– "We know."

– "But you kidding! It's not going head! "

– "It's going very well," said Christian Husson, which states in part that his "cronies" are examined in the offices nearby no fax payday loans.

Confession or resignation discrete

Despite the pressure and lack of explanations, Matthieu Tenenbaum continues to blanket denial: "To be escorted by hounds and finish it tells me that I have two choices, either confess or I am made walk for eight days, excuse me fall out of the closet like that, but what you speak? "

Tired, legal director offered him a "deal": "Either you cheek me, Commissioner Mills and the suspect who denies any ', or you end up in more discrimination (…) If you deny everything, that's what will happen .It will trigger a cumbersome procedure, criminal, and certainly with the key to serious consequences for you (…) Let you have more discernment, and it leads to resignation (…) that is to say that you hand your resignation with some details on what information you passed to the Chinese. And it stops there. "

Christian Husson Tenebaum then invites Matthew to "think carefully" to the maintenance of 11 January with Jean-Yves Coudriou, the chief executives. "Stop saying that you did nothing. We know, "he says.

"My hands are clean"

At this stage, the choice of frame is yet done: "If the only way to restore the truth is the hard way, I will take the hard way. But I do not see anything else I can do, "says Matthew Tenenbaum. "You can check all my accounts, my emails, my stuff, digging my home search …but never in my life I would have given any thing outside of the company! "he protested. "I have clean hands so you can do anything you want. I never turned a penny of this company. "

Despite the determination displayed frame, Christian Husson does not bend. "You'll go to your office seeking your business quietly without wishing the wishes to your colleagues. Hello Matthew! "Says he at the end of the interview.

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After Operation Oil cons food (Oil for Food) "designed not to starve the Iraqi people emerge from the Gulf war, Argentina has invented a new form, but lighter, clearing:" From Wine cons of Porsche. "

In Buenos Aires, the fight against the deficit of trade balance is in effect a special twist. The Government has authorized imports of Porsche country Fangio, obtaining in return compensation, dollar for dollar, the price of cars by the importer, the group Pulenta. To obtain satisfaction, this distributor is committed to export the same value in wine and olive oil as the hundreds of Porsche imported this year, about 5 payday loans.7 million.A real challenge, since the distributor will sell about 1 million bottles to meet the Argentine government.

All manufacturers of luxury cars are housed in the same boat: to sell his Audi in Argentina, the VW group is committed to export more cars manufactured in the country. As for BMW, whose cars are popular, the brand would consider implementing a motorcycle plant.

The Cac 40 should begin the session and week, up on Monday morning. Asian markets are facing this morning as Wall Street Friday, which closed on an increase of 0.43% after the release of employment figures better than expected in the United States.

This week, the industry is in the spotlight, during the first week of national industry. The report on the financing of green growth, produced by the Economic Council for Sustainable Development (CESD) is to be delivered this morning. The International Energy Agency will provide an update on smart grids. No macroeconomic statistics is expected Monday.Parisian investors should therefore focus on the many acquisitions announced this weekend, and this morning before the market opens.

Six acquisitions announced in 48 hours

Rhodia announced Monday it had signed an agreement yesterday with the Belgian Solvay has made a friendly takeover offer on its entire capital, to 31.60 euros per share.

Vivendi announced yesterday that it bought the 44% held by German Vodafone SFR to 7.95 billion euros. It possesses the entire share capital of the telephone operator.The operation should allow to "increase the dividend for 2012, said Jean-Bernard Levy, CEO of Vivendi.

Sanofi-Aventis holds 84.6% shares of Genzyme, following its takeover offer on U.S. biotech.

Ingenico announced Monday the acquisition activity in the United States from its U.S. rival Hypercom for $ 54 million. The specialist in payment terminals and wants to strengthen its position in the United States.

The price of nuclear electricity generated by EDF and sold to competitors at wholesale prices would be set at 40 euros per megawatt, according to Les Echos, which states that this rate is still subject to validation of the Elysee. EDF demanded 42 euros per MWh.

PagesJaunes bought the site from ads Avendrealouer.fr, which was previously held by PriceMinister.The transaction, whose amount was not disclosed, will enable it to dethrone Seloger.com head of the French market.

The Moroccan telecoms operator Meditel, which France Telecom holds 40% stake, recorded a 126% jump in net profit last year thanks to the expansion of its clientele, said Friday the official news agency MAP .

Side publications Monday, Delachaux should submit its accounts to 8.30. The annual results of Aegis is also expected. Argan the land must submit its turnover in the first quarter of 2011.