Archive for September, 2010
Axel Springer is continuing its development strategy on the Internet. The German group, which publishes Bild, the top-selling newspaper in Europe, has announced its intention to launch a takeover bid on the group SeLoger.com.
The German publisher has 34 euros per share to take over the titles of real estate portal. A proposal that offers a premium of 13.3% over the closing price of seloger.com – last traded price of 30 euros – valuing the company at 566 million euros. The scoring title was suspended at the request of the company.
Axel Springer says he has already reached an agreement to acquire 12.4% stake in French society at a price of 34 euros per share, or 70 million euros.
If the project succeeds, it will be the second major acquisition by Springer on the French market for Internet sites, where the German group three years ago became the majority shareholder of the women's site auFeminin.com for over 280 million euros.
Buy clothes on the internet getting more and more into the habits of the French. A study of the French Institute of Fashion (IFM), performed with GfK, sales of clothing on the internet grew 30% in one year to total 2.6 billion euros end June 2010. In the first six months of the year, purchasing textiles and clothing products on the Internet accounted for 8.6% of total industry sales, against 6.7% a year earlier, exceeding for the first time sales on traditional channels, such as department stores.
This performance is against the current situation of the apparel market, which registered a decline of 14% of its activity in the first half. Internet is "the medium on which fetch prices," said Evelyne Chaballier, director of economic studies and prospective MFI.A survey by the Federation of e-commerce and distance selling (Fevad) announced that nearly half of Internet users (45%) surveyed in May had bought at least one item of ready-to-wear during the six months precedents.
In search of bargains
The buyers are mostly women aged 25-34, converted to "web-shopping" by the time savings is Internet. Not to mention the monetary gain. For women, the prices of clothing bought online are 11% lower in the overall market. Children's clothing, which account for much of their purchases, are on average 3.5% cheaper.
Men are not left behind. The bracket of 35-44 years is one that spends the most time to dress on the Internet. The reasons are almost identical to those of their female colleagues: convenience, time savings and economy, with clothes one hour payday loan 7% cheaper.Small deviation from the rule: men tend to buy more expensive jeans on the net because of the trademark search.
Overall, online, products remaindered or discounted represent 55% of sales, against nearly one third (32%) for all channels.
Brands landed on the canvas
This enthusiasm for the Internet is also explained by the increased supply textiles. More and more brands now occupy the land. Some take the train, like Zara, or intends to do, like H & M. Even luxury gets going with a collection for winter 2011-2012 Karl Lagerfeld signed. The designer said he attracted "elitism mass" and believes it is the "road to modernity."
"The major players in the distribution of European fashion that are not yet available to consumers are becoming more and more rare," says the study.However, the 'mail order' as La Redoute and 3 Suisses dominate the market with 50% of total sales.
The balance should be changed, however as the pressure weighs on the Internet brands. Sales on the web, all sectors have still increased 29% in the first half to 14.5 billion euros, with nearly 156 million transactions. If this trend "continues, we should rise above 32 billion in 2010," predicted Marc Lolivier, managing director of Fevad.
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LE FIGARO. – Delaying the age of retirement at age 62 is it inevitable?
Jean-Francois Cope. – It's the only possible attitude. The aim of this reform is the future of the entire pension system of our country. If we do nothing, the deficit will be 20 billion euros in 2010, 45 in 2020 and probably 70 in 2030. All reports conclude that the impasse, and all other European countries have faced this challenge by raising the legal age of retirement at 65 or 67 years, as in Germany, Scandinavia and Spain. I do not see what political leader worthy of the name could evade that reality.I understand that this may cause concern and annoyance, but there are facts that can not be ignored.
What will a government project can be improved?
The arduous, long careers and polypensionnés are three areas where progress is possible. We have highlighted the problem of harsh labor and the elderly at a forum Generation France on the theme "Working more to earn more together". The hardship is not a question that deals with the day of retirement, but throughout life. If it pushes the age of retirement at age 62, is a new report by the French company to work he must create.The public and private employers will have to devise a new career stage and not an early retirement.
The left and the unions say that Eric Woerth is not able to defend this reform. What do you say?
I am absolutely appalled by the attacks Eric Woerth victim. I never spared him my support. He is the man of the file. We need it. I deeply regret that the unions have felt that Eric Woerth was not available to conduct necessary reform. I do not understand this position is inconsistent with the trade union tradition in France. For our part, we are very mobilized. I met this morning UMP deputies to show our full commitment.The central question I ask throughout the debates, is simple: assuming that the left would come to power in 2012, she would, as said Martine Aubry, the legal age to 60?
Jean-Marc Ayrault, head of the PS deputies, said he wants to discuss "proposed project cons …"
I do not think so. I heard only one proposal in the PS, that of raising taxes and taxes of 40 billion euros to finance pensions.
Claude Gueant sees an act of "allegiance" in the forum that you published Saturday in Le Figaro Baroin, Bruno Le Maire and Christian Jacob. Do you agree?
This is not the word I would choose. I prefer to talk about commitment.We want to make the maximum contribution to the re-election of Nicolas Sarkozy in 2012, working for and with him on policy messages that will have to send the French.
In this text, you still advocating a change in governance …
This is not a criticism. It seems interesting to consider a method that would allow us to get out of this climate in which any change was experienced front, divisive and aggressive. We will also devote a forum Generation France in this theme in November. One track is to foster a participatory approach, using new communication tools like the Internet. We must also rethink the relays that are political parties. Currently, they are far too centralized.
You wished that the UMP is "revitalized."This is a nomination as Secretary General?
It offers a service that I have made Nicolas Sarkozy, pointing out that, whatever the functions that I exercise or I will, I commit myself totally to him for his reelection. With many of our friends members, we want to do more and better for him, especially within the party, which operates somewhat separate. But it only makes sense if the president wants.
You criticized the distance taken by François Fillon with new measures against crime. You said you're with him?
Do not overdo it.But this is not a trivial prime minister says he would not have chosen the same words, so that during the summer, what are the words that have polemical.
On security, others in the majority expressed reluctance …
I have no problem with those who express their differences. All 316 UMP deputies have their experience, their vision. I always made sure that everyone can express themselves within the group, but on one condition is that on the essentials, everyone is together. However, more surprisingly and increasingly complicated when the ministers express their differences.
And when it was Alain Juppe?
He said he could have signed our forum and I was extremely sensitive to its statement. We have many similarities, although the security we are not quite on the same line.Our law has long provided the opportunity to deprive of French nationality who commit serious crimes. The left had limited this possibility to those acts of terrorism. I am not opposed to that measure to be extended to those who are seriously undermining the trustees of public authority that include the police and the police. As for the policy vis-à-vis the Roma, I recall that the exclusions are the result of court decisions to people who illegally occupy land illegally. What gives these individuals be treated differently from other illegal immigrants? It is time to end the hypocrisy festival this summer!
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The very serious American journal Proceedings of the National Academy of Sciences has published a study that partly contradicts the saying that money does not buy happiness. Produced by Daniel Kahneman, Nobel Prize for Economics in 2002, and his colleague at Princeton University, Angus Deaton, the study focuses on the well-being of 450,000 Americans surveyed in 2008 and 2009 for the Index-Gallup Healthways.
The authors come to conclusion that money makes much happiness … but to a certain extent. The threshold is set at $ 75,000 per year (approximately 58,600 euros), almost 4900 euros per month, although the study does not distinguish the number of people in the home. If, like 10% of Americans, your income is above this amount, you need through the trouble to earn more and therefore, unnecessary for the state to try to give you more. According to two economists, you will not be happier.
The impression of having a successful life
"Beyond the $ 75,000 in the contemporary United States (…), an increase in income did not bring either feel happy or to be relieved of unhappiness or stress, although this increase in income continues to improve evaluation that individuals make of their lives, "write the two economists installment payday loans. In other words, earn more money strengthens the feeling of having a successful life but does not necessarily happier.
"Maybe $ 75,000 is a limit beyond which increases revenue n'améliorent plus the ability of individuals to do what matters most to their emotional well-being, like spending time with those they are expensive, avoid pain and illness, and enjoy their leisure, "the authors claimed further.
To all others, the vast majority of the population whose income exceeds this threshold, their emotional well being is constrained by their financial concerns. A fortiori, poverty is evil "low income exacerbates the emotional pain that accompanies the misfortunes such as divorce or being in poor health or alone," write Daniel Kahneman and Angus Deaton.
Reassuring, the authors add all the same in an interview: 'like other studies on the well-being, we found that most people are quite happy and satisfied with their lives. "
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The Attali commission for the release of growth has reached an agreement after a final meeting which ended yesterday evening, and it expected to report in coming weeks, Les Echos said on Thursday. The Committee advocates and the realization of 75 billion euros in savings by 2013 to meet commitments to the European Commission to reduce the deficit to 3%, reports the Economic Daily.
Experts estimate that 50 billion would be earned in three years due to reduced spending, and another 25 billion euros through a reduction of tax and social niches where the Government seeks a saving of 10 billion.
In addition to reforming the tax loopholes, the committee recommends the establishment of exceptional measures, to achieve 10 billion in savings.The experts say, including the freezing of the index point for staff and expanding the principle of non-replacement of staff on two retiring to local and social security. Furthermore, control of expenditure in public service should enable savings to 40 billion.
Consolidation of the tax system in order
In addition, the committee "does not advocate new taxes or raising rates, but a broader base of social and tax," said one member to Les Echos. Renowned economists aimed at reducing tax loopholes and particularly those adverse to the environment or dependent status.
Half-word, the committee recommended the end of the tax shield: the collective effort that is taking shape, "the Committee would like the contribution of the most favored is not diminished by the tax shield," Les Echos said, citing a Participants at the meeting.
And if growth is less than 2% on average, economists have advocated the introduction of targeted tax increases. An overhaul of the tax system together with a lower labor cost is considered in the medium term.
At 14:30, all financial markets will have their eyes riveted on the United States. It was at that time that the unemployment figures across the Atlantic for the month of August will be published. Given the caution with which the New York markets were closed Thursday and Europe, uncertainty should persist until Friday the publication of these figures. In the middle of meeting, the CAC 40 rose 0.76% to 3659 points. At the London Stock Exchange, the FTSE-100 advance from 0.52% to 5399.14 points, and the German DAX 30, the Frankfurt Stock Exchange, rose 0.44% to 6110.88 points.
"It does not happen much on the markets, who are eagerly awaiting the unemployment figures of the United States, says it in the rooms. Is a very important day. Nobody wants to get new paris before this indicator. Investors prefer to wait and see what is the recovery. "He added: "If figures are bad, I think markets will fall heavily and not only Friday, but next week. '
Services: slowdown in France, rising in Germany
Despite a slight decline as unexpected new listings weekly unemployment across the Atlantic on Thursday, the Labor Department is expected to announce this afternoon an increase in unemployment to 9.6%."The GDP is not growing fast enough to create hundreds of thousands of new jobs needed each month to reduce employment at its level before the crisis," said Christina Romer Thursday, who will leave at the end of the week his position as economic advisor of President Barack Obama.
Also across the Atlantic in 16 hours, the ISM index of activity in services for the month of August and a speech from Fed chairman in Atlanta, Dennis Lockhart on current economic conditions are also scheduled .
For the euro area, growth in services in France recorded a slight decline. Whereas 59.9, the PMI stood at 60.4 against 61.1 in July. In contrast, in Germany, he cons 57.2 56.5 in July. Although below expectations (58.5), it evolves to its highest level since August 2007.
Retail sales in the sixteen countries that have adopted the single currency rose 0.1% from June and 1.1% over one year. Economists polled by Reuters had forecast an average increase of 0.2% a month to month and 0.6% a year.
The meeting was much calmer on the microeconomic front, in the absence of publications, the wave of results for this quarter coming to an end the Paris Bourse.
GDF Suez Stock doped by a partnership
The Director General of the operator, France Telecom, Stéphane Richard, told Reuters on Thursday on the sidelines of the MEDEF Summer University he was confident in the outcome of discussions with Canal + on the fusion of strings Orange Cinema Series TV and TPS Star. It will also try to convince the government not to raise VAT on offers "triple play".France Telecom gained 0.25% on the stock market to 16.18 euros.
GDF Suez (2.09% to 26.75 euros) has signed a partnership with the Brazilian Eletrobras to develop transportation projects and energy production in Central and South America, and Africa.The two groups do not preclude joint ventures.
Air France-KLM (+0.27% to 10.96 euros) plans to create a structure "low cost" for medium-haul routes, especially from Orly to the province to counter the offensive of the British company at bottom EasyJet costs.
The Slovak government has decided to retire to a consortium led by Bouygues (-0.28% to 32.32 euros) a road construction project of $ 3.3 billion through a public-private partnership announced Thursday Slovak Minister of Transport, Jan Figel.
Venezuela will pay approximately $ 600 million (468 million euros) Casino (+0.20% at 66.20 euros) and other shareholders of the supermarket chain Exito nationalized in January said Thursday President Hugo Chavez.
Vinci (+1.05% at 37.14 euros) Thursday announced the acquisition by its subsidiary of Vinci Park UK Meteor Parking which achieves annual turnover of approximately 50 million pounds (60 million euros ), allowing it to become number four in the sector in the United Kingdom.
LVMH (0.81% to 97.25 euros) a court decision is expected this Friday on an appeal by eBay, convicted in 2008 for dissemination and distribution of counterfeit perfume off approved.
Pernod-Ricard still in the red
On the side of the steepest declines, we find Sanofi-Aventis, still in talks to buy the company Genzyme bio technologies. The value is 0.54% to 46.63 euros, after losing 0.53% on Thursday. Pernod-Ricard continues in the red after the publication Thursday of disappointing results.After having yielded 2.37% on Thursday, back down 1.68% to 60.22 euros on Friday.
Ipsen (+0.26% at 27.27 euros) has signed an agreement with the Swiss pharmaceutical company Santhera Pharmaceuticals. The laboratory has received a license to market the fipamezole, a drug that helps relieve the symptoms of this disease in the world, except Japan and North America.
Wall Street has accelerated its rise. After opening up 1.14%, the Dow Jones is 2.23% at 10,237 points. The Nasdaq climbed 2.60% to 2166 points while the S & P grants itself 2.48% at 1076 points.
This renewed confidence followed the publication of a higher-than-expected ISM index of manufacturing activity. It stood at 56.3 in August against 53 expected and 55.5 in July. This good news comes in addition to that from China. China's manufacturing sector posted a modest rebound in August, after a slowdown in several months. The two purchasing managers' index (PMI) monitored by the markets, the bank HSBC and the Chinese federation, are rising. The index of the China Federation of Purchasing and Logistics rose from 51.2 in July to 51.7 in August. The index of the HSBC bank stood at 51.9 in August from 49.4 in July.
However, bad news side of employment fell before the opening. The private sector in the United States against all odds has destroyed 10,000 jobs in August, according to the monthly survey firm specializing EPA. Economists and analysts predicted instead of new posts with 19,000 new jobs expected on average for the month of August. The July figure was also revised downwards and now shows 37,000 new jobs, 42,000 cons first announced.
These figures give a first overview of the situation on the labor market before the official figures on Friday.Concerned about the fragility of U.S. recovery, the White House announced Tuesday it was preparing a new economic stimulus package it will announce in the next few weeks.
Moreover, construction spending fell more than expected in the U.S. in July, 1% from the previous month, falling to their lowest level since July 2000, according to figures released Wednesday in Washington by the Department of Commerce payday advance low fees.
Apple waited for his iPod
On the side of values, the U.S. computer giant Apple (1.50% to 246.79 dollars) would reveal an updated version of its iPod portable.Apple has emailed his invitations for a special event that day, Wednesday, September 1, revealing virtually nothing other than the date and place, the Yerba Buena Center in downtown San Francisco.
The online store Amazon U.S. (1.71% to 126.96 dollars) trying to launch a service that would give customers who pay a subscription service unlimited access to television and movies via the Internet, says The Wall Street Journal on its website.
Also according to the Wall Street Journal, the group of Burger King Holdings (11.64% to 18.37 dollars) plans to sell and has been in discussions with the aim of possible buyers. Burger King, whose market capitalization is $ 2.3 billion (1.8 billion euros), is the stock exchange since May 2006.The group was previously held by groups TPG, Bain Capital and Goldman Sachs had bought British drinks group Diageo in 2002 to 1.5 billion dollars. The newspaper, Britain's 3i is among the candidates concerned.
Always on the side of values, the British oil giant BP (2.50% to 35.70 dollars), listed on Wall Street, announced this morning that it would sell its interests in petrochemical operations in Malaysia to local group Petronas, for 363 million dollars.
Several companies are announcing results including the HJ Heinz food group (-0.85%) and Brown-Forman (-6.66%), the maker of Jack Daniel's whiskey.
Also note, the U.S. Federal Reserve (Fed) approved Tuesday the purchase by the Chinese sovereign fund China Investment Corporation (CIC) of 10% of the voting rights of the investment bank Morgan Stanley (0.74% to 24.85 dollars).