The year 2010 will be better than expected. Prime Minister Francois Fillon has slightly raised the forecast of growth of Gross Domestic Product (GDP) for 2010, "at least 1.5%, against 1.4% previously guaranteed high risk personal loans. "We should have a growth of at least 1.5% on …
"It is not a gift to Nicolas Sarkozy!" Assures Eric Schmidt. After his meeting with the president on Thursday, the CEO of American Internet Google maintains two separate issues: a willingness to invest in France and the project of Nicolas Sarkozy to implement a tax on advertising revenues Google Online.
According to Eric Schmidt, Google will realize that investments in France are "in the interest of its business." The Internet Group will open a research and development in Paris, is expected to employ fifty engineers the first year. Meanwhile, Google will invest between 5 and 10 million dollars in a "European Cultural Institute, dedicated to the promotion of culture in France and Europe from many digitized by Google. Investments that the Group intends to expand in the next two years.Google has also announced its intention to fund more research universities and French and launch a program to facilitate access of SMEs to new technologies. So far, Google's operations in Paris were purely commercial, still generating between 800 million and 1 billion euros of turnover.
'It is a gift "
With more engineers, Google hopes to improve or enhance its product range, which should increase usage of its services and therefore revenues, explains Eric Schmidt. "Why are we doing this? Because it's good for us is a gift to us is beneficial, "says he.In a statement, Nicolas Sarkozy on Thursday was "welcomed the initiatives of Google in France who respond to the expression of a real ambition of our country in the field of technological innovation and demonstrate the attractiveness of our territory ".
Is this also a way to buy peace of mind in France against the rebellion of cultural and media circles? The CEO of Google is vigorously contesting the formula. "The French market is booming. The Internet is growing rapidly, the advertising market is one of the most mature, "says Eric Schmidt. We are aware of the legal issues here but we act in the interest of our end users. "Thus, the boss of Google did not provide an exchange with the government on the investigation by the Competition Authority on the" functioning competition in the sector of online advertising.It had been claimed by Nicolas Sarkozy, who had interviewed at his best wishes to cultural professionals in January on "the possible dominant position acquired by Google in the market for online advertising." He was then seen as "fiscally understand the advertising activities of major portals and search engines internationals in France, said" Google tax ".
This topic is finally adjudicated in Brussels in 2012. Indeed, Internet Group has centralized its business services in Ireland. There should be reformed European law to allow France to drain revenue generated abroad by advertisements displayed on Internet sites in France.Google remembers his side's willingness to "respect the law."
Google numbers (2009)
• $ 23.7 billion in sales
• $ 6.5 billion net profit
• $ 152 billion market capitalization
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Still moving in the biotechnology sector. After the acquisition of ZymoGenetics by Bristol Myers Squibb yesterday Transgene announced this morning in a statement, signed an exclusive partnership with Jennerex for the development and marketing in Europe, the Commonwealth of Independent States (CIS) and Middle East, a cancer treatment, the JX-594. The product designed by the American Society biotherapeutic is currently in phase II clinical trials, the penultimate step before commercialization.
The two companies co-develop the product globally and will launch phase IIb and III clinical trials. Transgene ensure the development costs on its geographical area, it will be responsible for marketing and have the rights to produce the cancer.
This partnership takes the form of a stake in Transgene Jennerex.The statement explains that the French company "has made an investment in the capital of Jennerex. The latter may receive up to 116 million in bonus stages of development and the placing on the market as well as royalties on sales. "
The announcement was greeted at the Paris Bourse
The market liked the news of this collaboration, and won the title more than 7% to 11 hours, thus achieving the largest increase in the Paris market, and while the CAC 40 retreated 0.6% us fast cash. Several reasons may explain this dramatic increase. Transgene, first, well within the means of financing this partnership with Jennerex.After a capital increase of more than 150 million euros in early June, the company benefited from a cash of 205 million euros at the end of the first half of 2010.
Then, the French biotech investing in an area it knows well: the treatment against cancer. Even if there is a risk that the JX-594 is Jennerex retoqué phase III clinical trial, investors thought that this risk was measured.
Finally, the CEO of Transgene, Philippe Archinard has said himself, "this partnership agreement fits perfectly into our growth strategy on three pillars, which aims to make a biopharmaceutical company Transgene in its own right."The goal is to transform the biotech specializing in research and development into an integrated laboratory capable of producing and marketing its products and those of others.
But this strategy will bear fruit in the long term. The company expects to become profitable in 2015.
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Emmanuel Schalit, president of CBS Outdoor France, could be forced to resign in the day. This former general manager of La Martiniere was appointed there less than two years as head of the No. 3 hex display. The implementation of a "strategic realignment plan" and the cost of a broad social mandate would have been right Emmanuel Schalit.
CBS Outdoor, has an important heritage signs large format suffers from its lack of implementation at national level as street furniture, transport and digital which have focused its two main competitors JCDecaux and Clear Channel guaranteed online personal loans France . CBS Outdoor has re a turnover of around 170 million euros in France.
Emmanuel Schalit replaced Morinière Francis, appointed to the NCS Team as CEO.The departure of the latter had already highlighted the tensions between the management team and French its hierarchy within the global network.
As boss of CBS Outdoor, Emmanuel Schalit is to chair the "Grand Prize of the display, organized by the Union of outdoor advertising 24 and 25 September.
In the wake of Wall Street and Paris, the Asian stock markets preparing to end the week uncoordinated. Although most of the macroeconomic indicators published Thursday in the U.S. and Europe were positive, caution is still required until the figures of unemployment and employment for the month of August in the United States.
Around 7:00, the Nikkei 225 gained 0.19% to 9079.80 points, the Hang Seng in Hong Kong shows a small increase from 0.08% to 20,884.96 points, the Seoul Stock Exchange and Sydney move at equilibrium respectively 3726.98 points (+0.02%) and 4533 points (0.01%) and the Bombay Stock Exchange ahead of 0.16% to 18,268.04 points.Only the Taiwan Stock Exchange posted a sharp increase: 1.33% to 7823.54 points.
Conversely, Singapore was down 0.20% to 2980.70 points and the MIC of the China Stock Exchange was down 0.48% to 2907.32 points.
On the currency markets, the euro / yen has fallen slightly: -0.17% at 107.96 yen per euro, as the dollar / yen -0.10% at 84.23 yen to the dollar .
Oil prices drop below $ 75 in electronic trading in Asia, due to profit taking and some optimistic forecasts for employment in the United States.
In morning trading, a barrel of light sweet crude for October delivery lost 26 cents to 74.76 dollars. One of Brent North Sea crude for October delivery yielded 35 cents to 76.58 dollars a barrel.
It's official: the economy in the euro zone will be better than expected. The European Central Bank has acknowledged Thursday by raising its growth forecast for 2010 and 2011. According to new figures, the business would grow in 2010 in a range between 1.4 and 1.8% from 0.7% to 1.3% estimated earlier. By 2011, growth would be between 0.5% and 2.3%, against +0.2% +2.2% previously.
"The range of real GDP growth this year has been revised upward due to stronger than expected rebound in economic growth in the second quarter and better than expected trends observed during the months of summer," explained the ECB president, Jean-Claude Trichet."For 2011, the band has also been revised up to reflect mainly the lingering effects of the stronger growth expected in late 2010."
Uncertainty
Despite these upward revisions, "uncertainty continues to prevail," said Jean-Claude Trichet nuanced. On the other hand, "the resumption of activity should be constrained by the process of balance sheet adjustments in various sectors and the prospects of the labor market."
Especially, the growth differentials are widening between the different countries of the eurozone, economists noted. When Germany led the run with 2.2% growth in the second quarter, Greece sinking into recession with a decline of 1.5% of GDP. Same trend for national unemployment rates. In these circumstances, the ECB's strategy looks complicated.
This is not a problem, "replied Jean-Claude Trichet: the Fed, the U.S., is in the same position for decades with 50 states. "Over the past decade, the lowest growth of a U.S. state was 0.9% (Ohio) and the highest 4.7% (Arizona). We observed the same discrepancy in the euro area over the same period, "argued the president of the ECB. Same thing for the unemployment rates have spread from 3.5% to 14% depending on the states. Again, we found the same range in the Eurozone. "
Despite the rebound in Asian stock markets Wednesday morning and the revival of U.S. consumer confidence on Tuesday, the Paris financial markets remain febrile for the first day of September. At mid-session, the index in Paris rose 2.03% to 3561.75 points. The CAC 40 closed Tuesday August on a small increase of 0.11% to 3490.79 points. Throughout the month, the index in Paris lost more than 7%.
The Footsie-100 from the London Stock Exchange ahead of 0.38% to 5244.92 points. In contrast, the German DAX 30, after opening up slightly, declining from 0.41% to 5900.95 points, following the unexpected decline of 0.3% of retail sales in July.
The Paris Bourse and benefits of U.S. statistics less bad than expected, especially the rebound in consumer confidence in August. The increase in manufacturing activity in China is also contributing to accelerating gains in the CAC 40."The upward movement was initiated at the close on Wall Street Tuesday night, says it in the rooms. We do not press too heavily on the markets, which explains that the movement is noticeable now, and not opening.
Vivendi stock rewarded
The set of interim results continued. Vivendi raised its forecast for this year, after posting a 6.1% increase in sales to 13.9 billion euros and 6.6% of its net profit to 1.26 billion euros. The shares rose 5.05% to 19.34 euros, the largest increase in the CAC 40, before Lafarge (4.77% to 38.09 euros). The group also benefits from the increase in the analysts' recommendations Credit Agricole Cheuvreux to "outperform" cons "underperformance."They also raised their price target to 48 euros 46 euros cons.
The investment company Wendel (4.31% to 42.15 euros) in the first half net profit of 124.5 million euros against a loss of 959 million for the same period of 2009.
Tuesday after-hours trade, Bouygues (-1.31% at 31.62 euros) issued a revenue down 1% in the first half and slightly raised its full-year sales (30.4 billion cons EUR 30.1 billion previously planned). The value is the largest drop in the CAC 40, about 9:25.
Vinci (2.86% to 35.62 euros) reported interim results exceeded expectations Guaranteed payday loan.Its net profit was up 1.9% to 703 million euros and sales rose 2.3% to 15.5 billion euros, thanks to improved traffic conditions and benefits the acquisition of Cegelec.
Finally, Eiffage (-1.36% to 35.50 euros) confirmed its forecast of sales for 2010 thanks to the growth of its backlog and achieved a 40% jump in net profit share Half of the group 70 million euros. 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.
In the tug of opposing Sanofi-Aventis (2.11% to 46.23 euros) to Genzyme, the CEO of biotech company judge, in an interview with Reuters, the high probability of finding an agreement on Sanofi bid on American group.However, he reiterated that Genzyme will not accept the proposed price of 69 dollars per share. According to sources close to the U.S. group will not negotiate at least $ 75.
Manufacturing: up in France, down in the euro area
On the macroeconomic front, the growth of manufacturing in the euro area shows in August to its lowest level since February, according to figures released Wednesday by the monthly survey Markit. The PMI purchasing managers fell to 55.1 against 56.7 in July. In France, it reached 55.1 points in August, against 53.9 the previous month in Britain, it fell to 54.3 in August, after a final figure revised down to 56.9 in July.
The same index will be unveiled in the U.S. in 16 hours. Also overseas, the ADP employment figures in the private sector will be published to 14.15.They give a first overview of the situation on the labor market in the U.S. before the official figures on Friday.
Another indicator of importance: New car registrations in France fell 9.8% in August on a year to reach 102,912 units with the breathless pursuit of the effect "scrappage" announced Wednesday the Committee of French Automobile (CCFA). In July, new car registrations fell by 12.9% compared to last year, and 15.4% for the only French brands.