Archive for February, 2012
Despite the efforts and fiscal measures taken by the government for several years, young innovative French companies starting up are still struggling to find hundreds of thousands of dollars required to bring their products or services on the market. This is the conclusion drawn by the experts of the Strategic Analysis Centre (SAC) in a note on the boot, that is to say, to finance the early years of a young growth company.
First, venture capital funds that are experiencing increasing difficulty in raising funds prefer to invest more money in companies confirmed. Two reports of the General Inspectorate of Finance and the Court of Auditors published in 2009 and 2011 criticized the attitude of funds more concerned with profitability than risk taking.
Develop places "accelerators"
For their part, business angels, who are people able to invest between 50,000 and 1 million euros, regret that the State does not take the tax incentives for investors who are at real risk. The Federation of France Angels, which includes 4,200 business angels networks belonging to 80, for example wants the State to promote the creation of a fund co-investment involving public funding and private money on the model of Angel COFUND established in November last by the British government.
Anxious to bring together innovative companies and private investors, the Strategic Analysis Centre proposes that the national fund priming with 400 million and managed by CDC Entreprises, a subsidiary of Caisse des Depots, devotes part its investment in the development of places known as 'accelerators' that host for a few months of innovative young companies to help them prepare a case that would convince financiers.
A database to evaluate measures
"In the U.S., the number of accelerators has increased from 4 in 2007 to over 100 in 2011. There are now fifty in Europe, "says Caroline Le Moign, project leader at the Department of Finance-Economy Center for Strategic Analysis. In contrast, in France, such centers can be counted on the fingers of one hand.
The Center for Strategic Analysis also recommends evaluating the effectiveness of various measures taken by the State and to better monitor the companies together, creating "a database crossing private equity and public incentives."
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True consecration for French cinema. The Artist The film received five statuettes last night at the 84th Academy Awards ceremony which was held in Hollywood. Jean Dujardin has received Oscars for best actor, becoming the first French writer to receive this award in the history of the trophy in 1927. The French film directed by Michel Hazanavicius was also named best film. Other rewards of choice, those for best director, best costumes and best music.
These prestigious awards devoted French cinema, that 2011 was a year of enormous benefit. Beyond the global success of The Artist, 207 French films have gleaned rains awards and have also generated record revenues.
The attendance figures for 2011 show theaters because historical scores with 215.6 million entries, up 11% fast cash loans. Last year, over two thirds of the population entered a movie theater. The locomotive of the hexagonal film, Untouchable, records and 19 million entries followed by Nothing to declare that drew 8.1 million viewers. And the average price of 6.50 euros per entry, revenues of French cinema totaled nearly 1.4 billion euros in 2011. Another source of satisfaction for the cinema, the market share achieved by French films in the Hexagon stands at 41.6%, a figure that has no equivalent in other European countries. Crowing, film is exported and particularly the success of The Artist should continue to benefit the whole of French cinema.
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Nearly 80 local newspaper sites will be paying U.S. by the end of the year. The newspaper group Gannett, which publishes the Detroit Free Press particular, announced Wednesday in New York that all of its local newspapers would switch behind a toll barrier. However, the United States national daily Today, the country's largest, will not be subject to this new digital strategy.
Gannett expects to generate $ 100 million in additional revenue in 2013 with the new system. Like the New York Times, he plans to limit the number of articles free consultations during the month. Once the ceiling (between 5 and 15 articles by title) is reached, the player must purchase a subscription, which will no longer distinguish between access paper or digital access.
"With this new model, the group will also generate significant additional advertising revenue on its digital platforms," Gannett said in a statement. "The information in printed form was down instant payday loan. But the information distributed as desired by consumers is growing and thriving, "said the boss of Gannett, Gracia Martore, to investors.
With the launch of new marketing services for local businesses and developing a mobile offering for United States Today, Gannett bet on an annual growth of between 2 and 4% by 2015. In 2011, the turnover of the group had declined by 3.7% to $ 5.2 billion. Only its digital businesses rose by 11%, when the press (-5.4%) and Audiovisual (-6.1%) were in decline.
Like what Gannett plans to do more and more U.S. newspapers have set up toll gates on their site in recent months. They include the Chicago Sun-Times, Minneapolis Star-Tribune, The Dallas Morning News or the Tulsa World.
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The day after adoption in Brussels, the bailout of Greece is as painful for the private and public creditors of the country that the Greeks themselves called to an unprecedented austerity measures in exchange for assistance of 237 billion euros. "Our agreement will ensure the future of Greece in the euro area," says Jean-Claude Juncker, the president of the Eurogroup. "It's a step that should reassure investors, but this is not a definitive turning point," laments Charles Dallara, the representative of private creditors No teletrak payday loan.
Holders of 200 billion euros of Greek debt, private creditors-banks, insurance companies, funds, agreed to remove 107 billion euros of debt, against 100 billion expected. The exchange of obligations of the 93 billion euros of remaining shares will begin on March 12. For the private sector, the transaction will result ultimately in a loss of 73% to 74% of the equity securities.
The possible appointment of Jean-Louis Borloo at the head of Veolia react keenly the opposition. Monday, politicians railed against a possible intervention of Nicolas Sarkozy in this case, as reported by Libération and Les Echos.
The Socialist Party, through the voice of Pierre Moscovici, denounced "little arrangements in Fouquet's friends." Canal +, the campaign manager Francois Hollande evoked "the game of musical chairs comfortable to oust a man of political centrists and avoid certain temptations."
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For three years, the halal market in the Hexagon knows a strong increase of around 10 to 15% per year. The latest data firm specializing in the polls ethnic, Solis, the market for halal products ("legal" or "licensed" in Arabic) has reached 5.5 billion euros in 2010, one billion euros for Restore. If manufacturers have smelled it rich by investing in five years the sector, traditional butchers and grocery stores still hold the vast majority of the market, with 80%. In total, the halal industry worldwide is estimated at $ 600 billion (455 billion euros), representing 16% of the weight of the global food industry.
With 5 million consumers potentially concerned, France has seen the development in recent years these product lines compatible with the requirements of Islam. Not just in the food (meat, drinks, fast food …) but also in cosmetics (polish, lipstick, creams …).
Less dynamic in 2011
However, the year 2011a saw an inflection point. In any case, as revealed by the study "Horizon 2012 Shoppers' * Cabinet Solis, for which growth has slowed halal this year. Phenomenon confirms that the latest study by consulting firm Symphony IRI published mid-November that the increase in sales of consumer goods in supermarkets and hypermarkets Halal slowed sharply in third quarter 2011, reaching 157 million euros . While the 10.5% growth recorded over the period would be the envy of many manufacturers. And yet it is a stop from 25% rise recorded a year earlier on the same period.
While the month of Ramadan can average a 60% increase in sales compared to a normal month, the halal sector suffers from the dual effect of increased competition from brands in supermarkets, but also and especially problems of traceability / certification products. Last year, the suspected presence of DNA from pigs in halal poultry sausages Herta had led by example the brand to remove these products from sale. Bad publicity that has impacted on all producers. Especially since a few months later, Canal + hit hard by distributing a clear story ("Halal: The underside of a business") questioning the seriousness of certain companies in the industry. "The impact (of this report note) has been considerable consumer" also recalls the firm Solis.
Private labels are pulling the prices down
Finally, the dynamism of the sector is constrained by the market entry of private labels (PLs), which tend to drive prices down. This development is "at the expense of already established brands in retail, including national brands declined halal (Fleury Michon, Herta …) and traditional brands," says Solis, who is expected in the coming months to a redistribution market share between the different actors and has the concentration of firms in this market.
* Survey conducted face to face about 1,405 people 18 to 64 years in four regions with a strong tradition of hospitality of North African immigration, between October 14 and November 7, 2011
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Hard to imagine that flatter island Bornholm, off Denmark in the Baltic Sea. Yet Ole Harild, farmer by profession, has succeeded to create there a mini-resort on the island, with, again, a strong sun. Nothing, especially not the altitude of 40 meters, could not alter his determination. Better, avid skier very resourceful even managed to get European funds to create three lighted trails on its "mountain" too steep a molehill.
In fact, having learned of a European subsidy intended to encourage the creation of youth activities in the country, Ole Harild seized his chance. His record and his power of persuasion did the rest: 98,600 euros in aid, half of Brussels, a full one third of the total budget payday loan online. Since then, he rents his field to the Friends of ski Bornholm, more used to organize trips in Austria and flat shoes in Scandinavian countries.
One month of the season just opened after three days of heavy use of one snow gun of this station (cost) which receives 2,000 skiers per year. Ole is now seeking a lift: he spotted a used one in Austria. Brussels has already committed up to 27,000 euros. After all, when we found a good vein, why not exploit it to the end?
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Determined to help the growth, in this election year, Republicans abandoned their zeal for deficit reduction. While the campaign for parliamentary and presidential undertakes November, Republican leaders of the House of Representatives agreed to a compromise that will cost nearly $ 100 billion budget for the current year.
This is extended through December of reductions in social charges weighing chiefly on wages. Some 160 million Americans benefit from this gift, supposed to boost consumption and sustain growth to be too fragile by Barack Obama. The average American will have 80 dollars a month more.
Rise of Barack Obama in the polls
Since December the right wing of the Republican Party, very influential in the House, tried to package this as looking for savings of an equivalent amount elsewhere in the budget.
The Republican retreat is the rise of Barack Obama in the polls thanks to recent signs of improvement in the labor market. He campaigned on the urgency of reducing taxes on the middle classes, while wishing to increase taxes on the rich. Maintaining a budget deficit greater than 8% of GDP this year, and about 5.5% of GDP next year, do not seem to scare the Americans, or on Wall Street, which is found even at its highest in seven months.
Unemployment benefits reduced
The compromise that should be passed by Congress this week also provides a progressive shortening of the maximum period during which the unemployed can receive benefits. It will increase from 99 weeks to 73 weeks now by the end of the year.
The Republicans would rather reduce the period to 59 weeks. In yielding on this point, they got the cost of this measure is funded in part by an increase in pension contributions for federal employees. In addition, the Republicans give up a projected savings in health spending.
The electoral climate that prevails in Washington is so tense that it is likely that once the tax package passed no important legislation can not move forward until December. It was at that time, and after that we know of who emerges victorious in November elections, as important decisions will be taken to respect the timetable set last year in budget savings.
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on digital development, proposed by Senators Maurey Hervé and Philippe Leroy. The UMP should vote against.
This text aims to redefine the criteria for national coverage for mobile telephony and to modify the program very high speed, that is to say, the development of fiber optics. Elected officials, especially in rural areas, fear of being left behind, want to accelerate the deployment of fiber optics, imposing restrictions and sanctions on operators, and by encouraging communities to take action themselves. "Today, operators are going where they want and whenever they want. They have no obligation to implement their statements, while they prevent the initiative of local authorities in areas where they declare their intention to deploy. This is not acceptable, "said Hervé Maurey, Senator of the Eure.
"This text is well intended but using effective against-productive because it organizes a confrontation between operators and communities," said Bruno Retailleau for his part, Senator of the Vendee, UMP and related expert on digital. "The text in fact encourages communities to invest, including in areas where private networks exist, which leads to duplicate investment and leads to waste." The site of deployment of optical fiber is estimated at 24 billion euros, but could be much higher if the investments are doublonnés.
"Incremental costs for local authorities"
This bill represents a comprehensive questioning of the French financial and regulatory framework for the deployment of very high speed, even though the development of master plans of digital technology spreads and as the first projects between local and Private operators are developing. "The wanderlust Legislature is the enemy of investment, says Bruno Retailleau. This text carries with it the nostalgia of the former state monopoly, and aims to recreate it from renationalising telecom departments, "he says.
Telecom operators are opposed to this bill. The French Federation of Telecoms (FFT) estimates that "such a challenge seems to go or in the interests of the territories, nor in the public finances." The entry into force of that provision could lead to "a high risk of duplication of investment, which would cause a duplication of networks with the impact of additional costs for all stakeholders and especially local communities," denounces the FFT.
"The proposed rules seem to be cons-productive, even dangerous, said Pierre Louette, secretary general of France Telecom. If you want to be sure to slow the deployment of fiber in the country, this is one way that can guarantee to achieve this goal. " France Telecom has planned € 2 billion investment in fiber optics by 2015. This year, the group will double the gross amount of its investments compared to 2011 to exceed 300 million euros.
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In the midst of crisis, football clubs always brew as much money. In any case, as revealed by the Deloitte top 20 of European football clubs by revenue. For its 15th edition, the study "Football Money League" in fact reveals that the 20 richest clubs in the Old World have generated 4.4 billion euros in sales during the 2010/2011 season. This is 3% more than last season, and over a quarter of total market sales of European football. Nine of these clubs have seen their billings rise by more than 10% over the period, against only seven formations that had experienced a drop in their turnover. While these figures do not assume the financial health of clubs often heavily indebted, but reflect the ability of the persistent world of football to attract capital.
OM, the club that generates more money
The overall ranking has no major upheaval (the top six ranking has not changed in four years). But the French league has experienced a revolution. Indeed, for the first time in seven years, Olympique de Marseille ranks first among French clubs. With 150.4 million euros in turnover in 2010/2010, the club OM (7 million, the 14th in the standings) delights the trophy to his rival Lyons. Recording only 132.8 million in billings over the same period, Olympique Lyonnais (OL) forfeits three places, and now points to 17th.
In many clubs, the French championship in fifth and final figure up the "big five" European (behind England, Italy, Germany and Spain).