Publishers, the first victims of pirated software

Sad record. In France, more than a third of all software installed on PCs in 2010 was pirated, according to the latest study by Business Software Alliance (BSA), an international group of software publishers. This represents a market value of 1.9 billion euros, on a global market estimated at 9.5 billion euros. "The retail market is worse than that of businesses, but it is more difficult to control," said Eric Beaurepaire, a member of BSA.

Worldwide, software piracy generates a shortfall of 44 billion and ten billion for Europe alone. The United States is the country where the loss in value is most important, accounting for 7.1 billion euros. But in some "small" European countries, legislation and a little flexible when the market is still underdeveloped, the piracy rate is approaching 70%, as in Bulgaria or Romania.More generally, emerging markets are at a peak, with a piracy rate 2.5 higher than in mature markets, with a total value estimated at 21.7 billion euros.

At the head office and messaging

Pirated software the most concern the office and mail systems. What makes Microsoft the publisher the most penalized. Exposure correlated with its market share. The case of misuse is the most common deployment abusive (a company buys a license for 100 PCs and installs it on 200). "Cases of pure piracy, with the use of unlicensed software, are more rare," says Eric Beaurepaire.

This does not prevent users or even entire departments of large private companies fraudulently install software on their devices, possibly bypassing the procedures established by IT departments."Such practices can have dramatic consequences for societies. Pirated software can be corrupted with viruses … "insists Eric Beaurepaire. Not to mention the risk of financial penalties for the company.

Departments also

In France, where industry, technical fields and those related to the creation on the Internet appear to be less virtuous, no area is spared, not even the utility or ministries! Moreover, there is no real correlation between the rate of software piracy and its price. The most expensive are not necessarily the most coveted.Thus, security software, which does not always worth a score of euros, are not copied less than for professionals, which can be worth several thousand euros.

Paradoxically, the French might be followers of illegal copying, they say they are also very sensitive to the respect of intellectual property. A poll conducted by Ipsos for the BSA found that 68% of French people support the remuneration of inventors the world average is 71%. Aware of the risks of "software purchased on the street or" borrowed "between friends", the French, however, not hesitate to perform multiple installations, they do not perceive a real fraud.The advantages of software legally acquired access to technical assistance, protection against intruders … not enough to convince either the French users, less sensitive than the rest of the world to these arguments.

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Eiffage plans to reduce its debt

Although the third French construction group is heavily in debt (14 billion euros of net debt), Peter Berger hopes to increase the operating margin of 2% to 4% within four years, according tothe Echosce Thursday. The former director of Vinci Construction Grands Projets, aged 42, will assume the role of CEO on July 1, according to Les Echos on Thursday. Jean-François Roverato, president of Eiffage, will keep his duties until September 10, 2012, the year he reaches the age limit for this function.

For Peter Berger, the group's prospects are good. "At the end of March, our backlog is at record levels, and without the project Britain Pays de Loire, which will be included in July." For the new director general, larger sites, whose contract LGV Bretagne Pays de Loire exceeds 1 billion euros per year, less than 10% of sales."They are only the visible part of the iceberg front of 40,000 medium and small projects that we conduct every year. In the longer term, I believe in the structurally carrying the construction sector, even if only for demographic reasons. Between 2006 and 2011, the French population grew by 1.7 million people, representing nearly 40 billion more for the building market, "said Peter Berger.

Refinance Debt

For Pierre Berger, debt Eiffage no problem. "The goal is to reduce our debt from 300 to 400 million for each of the years 2011 and 2012. We do not anticipate any problem in 2013 to refinance the debt of 2 flexcheck cash advance.7 billion Eiffarie (consortium of Eiffage and Macquarie, whose group is a subsidiary APRR).Upon redemption APRR (Autoroutes Paris Rhin Rhone) in 2006, the debt highways accounted for 11 times its EBITDA, and currently, this ratio fell to 8 and should be reduced to 6 in 2013, when we completed its refinancing.

Optimization of large projects

The new CEO of Eiffage has also identified three areas for improvement to achieve a margin of 4% registered within four years, against an operating margin of 1.5% to 2% currently. "We must improve our productivity in public works and energy, including better integrating recent acquisitions, as and Crystal. Finally, we must optimize our steering of very large sites. From 2006 to 2010, Eiffage has conducted four abreast Stade de Lille, the Highway 65, the Perpignan-Figueras Hospital and South Paris region. Some have experienced cost overruns.On these very large operations, we must work as a team, establishing multidisciplinary project teams, close to the ground. "

"The group regularly conducts world premieres," said Peter Berger in his interview with Les Echos. He concluded: "Eiffage is the construction of high fashion, and we must capitalize on this strength with high value added projects."

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Conflicts on wages in enterprises

Carrefour unions must decide before the end of the week on the new pay proposals of management, after a strike followed very Saturday, April 9. TF, the main organization of the group, announced it would sign. The agreement includes a 2% increase to 220 euros gross premium.

In recent weeks, wage disputes have increased, fueled by the resurgence of inflation. Employees of Toyota and Eiffage ended their movements for several weeks, while those of Ferrero blocked the production of Nutella in Normandy. Other stoppages took place in recent weeks among automotive suppliers, with General Motors in Strasbourg, Thales, Equant, Camaïeu in the North, or even the U.S. giant Procter & Gamble.

The period of mandatory annual wage negotiations may be over, disputes are continuing."This follows a wave of wage moderation: the average increases of 3% before the financial crisis fallout between 2 and 2.5% for two years in large companies. Expectations in terms of changes in purchasing power have been disappointed, "said Richard Anthony, the Cabinet Business and Personal. According to Hewitt, the average increases would be limited to 2.6% in 2011, against 3.3 to 3.5% during the last thirty years paydayloan.

The purchasing power in question

The hopes raised by the return to healthy profits for big groups seem to turn into a continuing practice of wage moderation. "Companies lack the visibility and maintain a degree of caution," explains Sophia Kettani, in charge of compensation issues at Towers Watson. Employees feel they miss out of looming crisis.The government wants to regain control of the issue, seeking to link dividend and bonus pay. Conceived as binding, the measure has sparked the ire of employers and the skepticism of some trade unions and could become optional.

"The question of purchasing power arises, but we must look at the payroll as a whole. There are already ways to meet them, as the Law on Supplements Incentive in December 2008. However, if one takes into account increases in remuneration packages are around 3%. Companies generally seem to have taken account of the context, "said Jean-Christophe Sciberras, president of the association ANDRH.

Carrefour at home Camaïeu, if the increases are limited to 2%, the agreements provide more incentives and higher discount rates in the stores for staff, for example.

Advertising: TF1 hard to start in 2011

Morale is at half mast at TF1, which held its general meeting Thursday. The poor performance of hearing the first quarter will, according to financial analysts, the impact on advertising revenue. The consensus of analysts, they would be down 2% versus the first quarter of 2010, which had posted 355 million euros. It must be said that the first private channel has been unlucky in the first months of the year with JT sluggish and entertainment in free fall.

"In 2010, free channels have pulled their growth in a proactive policy volume. The screens are well filled in 2011, the price effect which is structuring. Yet the latter is related to hearings. And, in this case, they have not always been the rendezvous for TF1, "said Sergeant John the Baptist, the brokerage firm Gilbert Dupont.This was particularly the case in prime-time portion of which sank with the accident "Square VIIIP. The lower rates would have been understood for advertisers between 14 and 24% and it was not until the introduction of the game "Money Drop", Endemol, in a few weeks to recover.

The situation is quite different with regard M6 whose advertising revenues are up 7% to 162 million euros in the quarter. Good hearing chain Nicolas de Tavernost including the JT and "Scenes from" support price of advertising. "TF1 had some crashes while hearing M6 surfs its success," said Julien Roch, a financial analyst at Barclays. This virtuous growth is now linked to the rising cost of grid announced last September and is expected to be on the year, between 5 and 10%.A boost that seduces even more advertisers and audiences are waiting for you.

Disappointment in the markets

However, the side of diversification, the group experienced a fall impressive range of analysts estimated between 16 and 20% due to the collapse of sales of Bordeaux and a weaker performance on the market broadcasting rights for lack of a twilight or indoor video.

On Thursday, during TF1 fell 4.19%, to 12.35 euros, while that of M6 lost 2.22%, to 17.85 euros. However, analysts remain calm. At European level, falling valuations of media companies is around 20%.

The Paris Bourse in negative territory

The Paris markets do not take risks on Monday. The CAC 40 thus begins the day on a small drop of 0.19% to 4054.32 points.

In Paris as elsewhere, investors are trying to make a first point on the Japanese situation, one month to the day after the disaster that has ravaged the north-east. Reassuring news fell on the nuclear situation: According to government spokesman Yukio Edano, "the risk that the situation at the nuclear power is deteriorating and it leads to a new major radiation leak was significantly reduced. " In Asia this morning, markets have however not given clear signals.

Side indicator, the day promises to be especially quiet since no statistics are expected.Only INSEE announced before trading up 0.4% of French industrial production in February, after rising 0.7% in January.

The rest of the week will be loaded with particular current accounts in France and the German ZEW index Tuesday, the Fed's Beige Book on Wednesday, the weekly jobless claims in the U.S. on Thursday and the index of U.S. consumer sentiment Friday.

Markets await especially forward to the start of the dance publications of quarterly results in the United States. As usual, Alcoa will begin the festivities this evening.

As for currencies, the euro appears small decline in morning trading at 1.4459 dollar. Same thing for oil, hit by profit taking after sharp gains last week.A barrel of light sweet crude for May delivery yielded 36 cents to 112.43 dollars while that of Brent North Sea crude for May delivery lost 83 cents to 125.82 dollars.

Values ​​to follow

Renault

The board of directors of the group will try Monday to see more clearly in the wrong spying scandal at a special meeting and will try to establish the responsibilities of everyone in this fiasco online cash advance.

Saffron

The Central Directorate of Internal Intelligence (DCRI) investigation on suspicion of spying for Turbomeca, a subsidiary of Safran including computer networks have been "looted" for several months.

NYSE Euronext

The board of directors of the transatlantic exchange operator yesterday rejected unanimously the offer of participation of $ 11.3 billion made by Nasdaq, coupled with Intercontinental Exchange (ICE).

EDF and EDF Energies Nouvelles

The listing of both Kingbird, who was suspended Friday after the announcement of a takeover offer from EDF on the 50% stake in its subsidiary EDF EN it does not already own, resumes today.

EDF also requested that the EPR reactor being built at Flamanville is considered "priority" as part of the audit of nuclear safety in France, said the Nuclear Safety Authority.

United States, the commission (NRC) has denied Unistar, owned by EDF, a license to build a new reactor at Calvert Cliffs Nuclear Power Plant.

Carrefour

The walkouts on Saturday in favor of wage increases were a success according to the unions, who speak highly mobilized. The strike rate ranged from 30 to 85%.Negotiations will resume Wednesday.

Sanofi-Aventis

The group said Friday night that completed the acquisition of Genzyme after the reopening of its bid and said the U.S. biotech is now a subsidiary that holds all.

Total and GDF Suez

The French government has decided to ban the exploitation of shale gas and the repeal of licenses already granted.

Areva

The group bought for 1.62 billion euros from Siemens in the joint venture Areva NP, paving the way for a merger between Siemens and the Russian Rosatom, said on Sunday the German newspaper Die Welt.

Agreement in extremis on the U.S. budget

A week of respite. That is what has been unable to agree representatives Democrats and Republicans in Congress Friday night to Saturday. Released by the spokesman of the House of Representatives John Boehner, the agreement between the two sides held in suspense the United States for several days, the deadline expires Friday night. Failing to find consensus on the establishment of the federal budget for the year, officials threatened to paralyze this Saturday utilities "not essential", putting 800,000 officers on forced labor

The debt ceiling: the next topic of discussion

The agreement reached last night, however, is only temporary, avoiding this disaster scenario time a week. Congress must still agree on a final agreement and vote in next week's final act on the budget for fiscal 2011 which expired on September 30.According to comments reported by the Republicans, the agreement provides the budget cuts of 37.8 billion dollars spread over the rest of the year.

Cuts historically high, and considered "painful" by Democratic President Barack Obama speaking just minutes after the announcement of the agreement, but "necessary" to allow the U.S. to live within their means. A major point of contention was the amount of budget cuts, Democrats want to limit them to 33 billion dollars not to compromise too much the U.S. recovery by drastic cuts, while Republicans wanted to bring $ 61 billion .

The debt ceiling: the next topic of discussion

For his part, Rep. John Boehner believes that the compromise reached in the snatch will "reduce costs and keep our government in working order." Still, the U.S. budget problems are not over. Far from it. If the agreement reached by both parties to avoid a political crisis difficult to 18 months of presidential and legislative elections and a halt to the recovery of the U.S. economy, of bitter debate looming once again for the next weeks.

First on the budget for 2012, but especially on the possible increase in the debt ceiling and on the measures used to reduce it.A debate arises today, Treasury Secretary Timothy Geithner has warned that the legal debt ceiling (14,290 billion), would be met from May 16 next, and that extraordinary measures would not reduce the maturity until 8 July. On April 1 this year, the federal government debt had already passed the 14.251 billion dollars. And the budget deficit probably will cross the bar of 1400 billion, despite cuts passed in the night. Already engaging the coming hostilities, John Boehner said this morning that the measures proposed in the coming weeks by Republicans would reduce the deficit of $ 500 million over 10 years.

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Europe is pushing for the rescue of Portugal

Europe is thought to enjoy the Brussels summit to finally turn the page of the debt crisis. But the Portuguese came psychodrama shake the building patiently put up for weeks by asking for a bailout forced march.

The pressure is growing on Lisbon and the Europeans will now cast messages without ambiguity. "We have the ability to help Portugal if we demand," said Thursday the Swedish Prime Minister Fredrik Reinfeldt. EU summit should also help expose the full range of response from the anti-crisis unveiled earlier this month, since the funds to rescue deal for the euro through the strengthening of economic cooperation.

The resignation of Prime Minister of Portugal on Wednesday night, has changed the program.The country's economic situation is so precarious that it will probably aid amounted to 75 billion euros. "If Portugal had never seek European support this size seems appropriate," says the boss of the Eurogroup Jean-Claude Juncker. By contrast, Greece has received 110 billion euros, and Ireland 85 billion.

Threatened by a new recession, Lisbon facing the distrust of markets with borrowing rates to 10 years beyond 7% over a month. Thursday Fitch downgraded two notches its sovereign rating because of "increased risks" facing the country's financing capacity.The situation becomes untenable with the approach of the two bond issues planned for April and June, more than 9 billion euros in total.

Constitutional deadlock

"We are obviously ready to step in and help, but it must first request of Portugal," insists the Belgian Finance Minister Didier Reynders pay day loans.

That's where the rub: Jose Socrates is a headwind against the idea of ​​an international aid plan. Thursday in Lisbon, the spokesman of the government resigned hammered it "will continue to fight with all his might against the possibility of recourse to outside help." The electoral ambitions that keeps the prime minister did little to encourage reverse itself before its European partners. Especially it must be renewed this weekend at the head of the Socialist Party.

In this political agenda plus a legal headache for last minute very embarrassing for Brussels.The Portuguese Constitution would prevent a government in current affairs to engage his country on the path to a bailout. "The situation is institutionally blocked," sighs a diplomatic source.

Meanwhile, markets are losing patience. Early elections will not be held before end of May. Wait two months might give free rein to investor panic, with a key to the soaring rates, a heavier bill for the rescue, and increasing doubts about the future of the euro area. This is the scenario that the Europeans wanted to avoid the danger of reviving the plans after Greek and Irish. For the 27, we must find a loophole out of this unexpected situation. And reassurance in the meantime, the Lisbon commitments.

Boeing wins tanker contract

From our Washington correspondent

The Pentagon chose Boeing and EADS not to deliver 179 aircraft-refueling tankers. The European group had, however, in 2008, won the giant contract estimated at $ 35 billion. But Boeing was able to invalidate the win. In a politically charged climate, Boeing had argued errors committed by experts from the U.S. Air Force in the evaluation of their offer."Disappointed and puzzled," according to the terms of Executive Chairman of the European manufacturer, EADS has ten days to enter to turn the U.S. Court of Auditors, which would be a hundred days to decide.

EADS offered to assemble a plant in Alabama, specially built for this purpose, a military version derived from the Airbus A 330.

Boeing wants his side to replace its old KC-135, in operation since 1950, for derivatives of the Boeing aircraft B-767 products in its factories near Seattle. The selection of Boeing will cause a stir in Congress, especially among Republicans from Alabama. Conversely, deputies and senators, anxious to defend Boeing and employment in the United States are met.The contract is more sensitive than the needs of the Air Force is pressing and unlikely to be affected by cuts in appropriations that hit other weapons programs, including those who live Boeing.

Operating Costs

The formula used by the Pentagon to compare the operating costs of both units played a crucial role in the decision. Indeed, the tanker offered by EADS is larger than the unit proposed by Boeing. To compare the two options, experts from the Defense Department have established a mathematical formula that adjusts costs to reflect this difference free instant credit score.

The model incorporates various scenarios of conflicts and situations of refueling more or less far from U.S. bases. It also takes into account the likely increases in fuel during the operating period is 40 years.However, Boeing had long argued that the formula favored EADS. It does not reflect the actual costs of operating the Boeing tanker supposed to be lower.

The manufacturer also claims that EADS is a company illegally subsidized by European states. Moreover, Boeing submitted to the Congress that the U.S. should not rely on a foreign company for a contract as important to national security.

The Pentagon had clearly rejected these objections. On the one hand because the dispute between Boeing and Airbus to the World Trade Organization (WTO) is not resolved, Boeing accused of being eligible for public subsidies. He also believed that competition between the two manufacturers was the ideal way to get the best tanker at the best price.Only against Boeing since Northrop Grumman has renounced his alliance with EADS on this project, the EU has even seen the Pentagon grant it the status of "prime contractor", reserved for the largest U.S. companies weapon. Still, a second phase is planned. The work carried out by EADS is not lost and he could catch up on this occasion

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Protesters furious after Mubarak's speech

Tahrir Square, Cairo, online:

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10:55 p.m.: People are beginning to organize to camp on Tahrir Square. A great new day of action is planned for tomorrow.

10:51 p.m.: The vice president urged protesters not to listen to "satellite TV" and listen to "their heart."

10:40 p.m.: The vice president spoke in turn to state television and defending the president in ensuring that it has placed the country's interests above his own. He called on demonstrators to go home and all the Egyptians to work together.

10:36 p.m.: Obama met with his national security team after Mubarak's speech.The CIA had indeed thought that the Egyptian president would announce his resignation, a scenario that was favored by the United States.

10:27 p.m.: The Egyptian state television just announced that Vice-President Suleiman will in turn address the nation.

10:21 p.m.: A man lying on the floor of Tahrir Square. The protesters formed a cordon around him to prevent it happen trampled.

10:13 p.m.: Mubarak said in his speech that he wanted to be "buried in Egypt" and he would not leave his country under any pretext.

10:10 p.m.: The Egyptian demonstrators brandish their shoes, a powerful symbol of defiance and anger in the Arab world.

Mubarak wants to ensure the transition until presidential elections. Photo credits: TV via APTN EGYPT / AP

The Paris Bourse reorganizes all indexes

The CAC 40 is not likely to be upstaged at the redistribution of roles that the exchange operator NYSE Euronext will make effective March 21 on its index in Paris. Instead, the rules which prevail in its composition shall be extended to all indices. Selection will be made as to the CAC 40, depending on the liquidity of the securities, that is to say, the treated volume compared to the floating capital.

The SBF 250, which brought together the top 250 values of peak disappears. The indices will be overseen by a new "All-ACC Tradable," in which all values will be listed at least 20% of free float changes hands each year.

For heavy odds, the CAC 40 and CAC Next 20 (ACC antechamber 40) but are kept together under a new index, the CAC Large 60. The SBF 120 is retained.It now includes the Large CAC 60 and a new index, dedicated to mid-cap, the CAC Mid 60. As the CAC Mid 100, it disappears.

For smaller companies, the CAC Small 90 gave way to the CAC Small, and CAC Mid & Small 190 to CAC Mid & Small, the idea is not to limit the number of values that may compose these indices.

"These changes will bring more visibility, particularly to small and mid-cap and facilitate access to investors who can more easily and launch new financial derivatives or structured," says Marc Lefevre, director of NYSE Euronext Listing France.

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