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NicOx is closing its offices in the U.S.

admin — Sat, 21 Aug 2010 13:56:45 +0000

The French biotechnology company NicOx plaice luggage United States after facing the U.S. health authorities' refusal to authorize the marketing of its flagship product, Naproxcinod.

The group based in Sophia Antipolis announced Thursday in a statement it was closing its offices on U.S. soil. The group currently employs 22 people at its facility in Warren, State of New Jersey, on a total of 127 employees. NicOx activities in the United States are on the marketing of Naxproxcinod and conducting clinical trials.

"It is with great regret that we must stop our operations in the United States," said the CEO of NicOx, Michele Garufi.Affirming its recognition for its employees, he adds that "it is essential to manage our resources as efficiently as possible."

NicOx announces however it incurs "the earliest" further discussions with the Federal Drug Administration (FDA), the federal drug agency. The biotechnology company remains hopeful of a successful marketing U.S. Naproxcinod, a drug on which he bet big. NicOx also said he will pursue the regulatory process in Europe.

Moreover, the biotech said it "will actively seek partnership agreements for Naproxcinod in Europe and the rest of the world, as well as other compounds of the portfolio. She finally announced it would study "parallel opportunities to take appropriate licensing and mergers and acquisitions.

The CAC 40 companies save dividend

admin — Tue, 29 Jun 2010 13:24:09 +0000

Profits fell, but dividends have resisted. Despite the fall in profits last year, the CAC 40 companies will total $ 36 billion in dividends to their shareholders this year (in respect of 2009 results). "It's almost as much as in 2008, and it shows the willingness of companies to retain their shareholding," says Sonia Bonnet-Bernard, associate-manager Ricol Lasteyrie, who yesterday presented the fourth financial profile done by the CAC 40 firm.

The payout ratio (the amount of dividends compared to profits) has jumped to 90% (excluding Arcelor Mittal) in 2008 against 48% or 42% in 2007. Only four groups have decided not to pay: EADS, PSA, Renault and Alcatel Lucent.

The corporate largesse is all the more surprising they have not hesitated in the same time, to launch capital increase to finance themselves.More than a quarter of the CAC 40 companies have used the market last year to strengthen their capital, notes Ricol Lasteyrie. In total, shareholders might have paid 24 billion euros. "Companies that take on debt, make capital increases or selling assets … while maintaining their dividends, that has always existed. But for two years, it shows a little more often, "says Moudy El Khidr, portfolio manager at ING IM. In Europe, however, few companies have debts to pay their shareholders. They preferred the issue of new shares.

The decrease in VAT in the catering numbers

admin — Sun, 27 Jun 2010 09:36:05 +0000

Lower prices, or increase wages and create jobs, such were the promises made by professional restoration in exchange for declining to 5.5% VAT. In practice the government had forecast a drop in prices overall 3%. But the overall direction of Treasury at Bercy, the decrease was 2.5%, as it must take into account price increases (+ O, 1% a month) that would have been saved if there had been no reduction in VAT. According to Insee, the statistical institute, the decline recorded between July 2009 and end MayOnly a conservator two on average applied the lower price.

The shortfall of the state would it 2.35 billion euros a year on some 130 billion collected last year under the VAT.

Disagreement on Figures

As for salaries, increments and other benefits provided under the industrial agreement signed by the five trade unions and three of five business organizations in the sector would reach one billion euros accumulated since March 1, date of application the agreement saving account payday loan. Some 21,700 jobs have also been created, the government said. This figure is disputed by the union FO who believes him, he must subtract the 15,000 net new jobs recorded on average each year for ten years in this industry.

The measure would also have saved 25000 companies, nearly one third of the 80,000 restaurants in trouble before the reduction in VAT, as the specialist firm Gira Board.

Second lowest rate reduced

Twelve countries now have a reduced VAT on food in Europe. Since the authorization granted in 2009 by the European Commission. Only France and Belgium have taken the plunge. On 1 January 2010, Belgium has lowered its rate of 21-12% in food, drinks. Before the green light from Brussels, ten other member states had historically lower VAT in restaurants. With a rate of 5.5%, France has the second highest in the restoration reduces the lowest in Europe, just behind Luxembourg (3%).

Lagarde freeze gas prices

admin — Sat, 26 Jun 2010 07:08:11 +0000

The Regulatory Commission (CRE) had just agreed to the request of GDF Suez to raise gas prices as of July 1. They grow by 4.7%, bringing the increase to nearly 15% since the beginning of the year. Although this further increase was expected, the household energy bill begins to weigh.

However, Christine Lagarde, Minister of Economy, warned Friday that gas prices will not move until 1 January. Consumers will escape upwards so that additional sketched already by 1 October – the price revision is now making quarterly.

The "pause" as required by the Minister is made on behalf of a review of the formula currently allows GDF Suez to calculate its rates. In spring, the regulator had already begun an audit. It will therefore continue, before the drawing, probably new method of calculation.Knowing that GDF Suez is currently conducting a number of renegotiations with producer countries. "I hope that the CRE do an audit of this formula because I'm quite surprised at the speed of execution and I wish that as a result of this audit, we determine if the formula is good," said Christine Lagarde Friday on France Inter.

"The current tariff is not obsolete, but it can be optimized," says one expert dossier.In discussion, the long-term contracts underlying the supply of GDF Suez (with key suppliers such as Russia, Algeria and Norway), while the spot price of gas fall very weakly into account in calculating the formula.

The government takes the hand

"On a more general issue is whether to continue to index the price of oil on gas prices, even though overproduction of gas worldwide has resulted in a fall prices, "says one expert. However, increased consideration of market prices in the establishment of the formula may increase the volatility of rates. In all cases, the balance is difficult to find.

For the government, the record price of gas remains thorny.Early this year he thought he had found a solution by entrusting exclusively to the regulator, on the proposal of GDF SUEZ, the task of settling. But after two significant increases in quick succession, the government, well aware of the unpopular side of the increases among the public, are now forced to return to the game

The World: key week for the recapitalization

admin — Mon, 21 Jun 2010 19:32:12 +0000

A new twist to a week of the due date of the recapitalization of the World. Faced with the trio led by the investment banker, Matthew Pigasse with Pierre Bergé and Xavier Niel, a second trio was organized on Sunday afternoon, around the group BY SFA (holding the New Observer, owned by Claude Perdriel) of Spanish media group Prisa (El Pais) and France Telecom operator. In an interview with Journal du Dimanche (JDD) Sunday, the CEO of France Telecom, Stéphane Richard, proves to have "thrown, with Claude Perdriel and Prisa, the basis of an agreement."

15.01% shareholder of Le Monde group, Prisa was reticent after the refusal of the Executive to grant an extension until September to participate in the recapitalization of its ailing partner.The panel chaired by Juan Luis Cebrian put forward its own recapitalization involved with the U.S. Fund Liberty to justify such a postponement of the calendar. Last week, he emphasized its commitment to, inter alia, not to see its share diluted after World recapitalized.

Negotiations on all fronts

The new trio should table this afternoon deadline, a firm offer to provide a contribution of 80 to 120 million euros, against 67% stake in Le Monde group, the balance remaining in the hands of associations of employees, alumni and readers. If the trio is selected, two thirds of the capital would be divided between France Telecom (20%), ACS PAR (40%) and Prisa (40%). Claude Perdriel assumed the presidency of the Executive, Denis Olivennes merely a seat on the supervisory board of the World, which would be chaired by Louis Schweitzer. It remains to see who would hold operational control.The question does not seem to cut Sunday night "even though we reassured on good authority, we are heading towards a cocontrôle between groups Prisa and Le Nouvel Observateur No faxing 1 hour payday loans.

For its part, the boss of France Telecom has consistently received on Sunday evening, the approval of its board of directors to invest the "50 to 60 million euros" in Le Monde. This amount is primarily intended to buy "the participation of 34% of Lagardère in Le Monde Interactive (lemonde.fr …), estimated at between 30 and 40 million euros (the remainder, nearly 20 million euros, being invested in the holding head).

France Telecom is already in discussion with the group Lagardere, which would yield the same time its trademark rights The World.With this operation, the operator expects to realize significant synergies in terms of content and advertising revenue between its sites, those of the World and the Nouvel Observateur. On an investment after all, pleaded Sunday Stéphane Richard, in comparison with the "6 billion that the group invests every year." Especially since Claude Perdriel was anxious to negotiate an option to buy within five years 34% of France Telecom in Le Monde Interactive.

For its part, the trio Pigasse-Bergé-Niel Sunday still pursuing its discussions with various companies in the group's employees to enter into a governance agreement. This would include maintaining their right of veto over the appointment of a newspaper editor, a right to consultation regarding the group's director, and a right to scrutinize the use of the mark World. This agreement should be attached to the tenders submitted this afternoon.The employees will vote Friday before a supervisory board next Monday.

IPad fever seizes U.S.

admin — Fri, 02 Apr 2010 15:01:07 +0000

At 24 hours of his arrival on the market, the iPad fever is at its height in the United States. If you believe the answer to preorders which started March 12, the new creation from Apple sensation. The first stocks are already exhausted, those who have not ordered their iPad before this week will receive nine days late, on April 12. Apple, which does not communicate its presales, would not produce enough to meet demand. On Saturday, the tablet will be available in Apple stores and Best Buy, and it will get up early to get his, because the rays could be emptied before the end of the day, according to the buzz on the Internet. The wireless models are $ 499 to $ 699. It was not until the end of April if we are interested to 3G versions, the price will go up to $ 829.

They are not only two signs that are preparing to light.Speculation is also rife on the Web according to PCWorld magazine. Taking advantage of the predicted shortage, some simple pre-booking their offer to $ 100 on sites like Craigslist, others have started their iPad on eBay at $ 700 instead of 500. These deals seem even more doubtful that Apple, as usual, organized the launch of its latest gadget in the greatest secrecy. The employees, including technicians to repair the supposed object in case of failure, had still not seen the tablet this week.

5 to 6 million sales?

The bookmakers are already on their paris sales volume by the end of the year: 5 to 6 million, maybe more. To entice buyers, Apple has guided the launch eleven new iPad applications on its site, including Safari, Keynote, YouTube, iTunes and irresistible iBooks, which may well dethrone the Amazon Kindle.If even two months ago, we doubted the potential of Apple's latest invention, now we only speak of it. Advertisers flock to the advertising pages of publishers whose applications will be available on Saturday, as Time Magazine, The New York Times or the Wall Street Journal. FedEx has purchased 90 days exclusively on applications of Reuters and Newsweek.

The reviews coming out are largely positive. A few handfuls of journalists across the U.S. have played for a few days in secret with the tablet. For most, the iPad is a single iPod or eBook. The New York Times predicted that the techies will hate but the general public will love.

In any case, Apple continues to generate humor. The tablet on behalf biased in English (mean pad pad) is suitable for two months parodies the most diverse.The latest is a "tablet" Doritos (the chips). A real hit on the Facebook page for fans of the true shelf.

Lagarde returns to Berlin at the cost of a tax on banks

admin — Thu, 01 Apr 2010 06:21:33 +0000

In Berlin

That's all smiles as Wolfgang Sch?uble, German Minister of Finance and his counterpart, Christine Lagarde, have been presented to the press after the German Council of Ministers which, for the first time a foreign minister was able to attend. After quarrels on the question of rescue of Greece and the tensions in the German economic model, the French Minister has stressed "the very friendly and warm hospitality" of his German colleagues. Asked about his remarks about the controversial German exports, Christine Lagarde has countered that she had wanted to "congratulate" the German competitiveness. "I am very careful not to criticize, because we must first put its own house," she smiled.

The Franco-German reconciliation was played around a tax on banks that Berlin wants to impose on the European and international level, with the support of Paris.The compulsory levy, calculated in terms of systemic risk – that is to say the risk of contagion that would expose their failure to the rest of the economy – should contribute to a fund to help financial institutions.

More than one billion euros

In Germany, such a tax would yield 1 to 1.2 billion euros per year. "A bill must be presented before the summer holidays, and may be adopted in the second half of the year," said Wolfgang Sch?uble No faxing pay day loans. For the Minister of Finance taxation of banks should remain "moderate" to avoid compromising their role in providing credit to the economy that is recovering from recession.

To avoid distortion of competition, Paris and Berlin argue like the International Monetary Fund (IMF) for a tax credit internationally.Christine Lagarde believes it is important to act "on a double angle: Prevention and Accountability" of financial institutions. But the tax credit mechanism must also "maintain a set level playing field between banks involved in international markets.

One issue still under discussion between the two countries: the destination of the tax. While Paris wants to assign to the state budget, the Germans are considering creating a special fund.The national rules will be required, although the mechanism is doomed to fall within a framework of European regulations or international.

"The Franco-German cooperation is narrow, it becomes more and more, and is based on trust," said the German finance minister, who will attend an upcoming French Cabinet, a priori, April 7.

JCDecaux results in sharp decline

admin — Wed, 10 Mar 2010 12:42:36 +0000

The number one worldwide in street furniture, JC Decaux SA, published its 2009 results on Wednesday. Its sales are down 11.5% to 1.919 billion euros owing particularly to the fall of the advertising market. At constant scope and exchange rates, turnover is down 10.9%. Its net profit after minority interests fell to him, from 77.3% to 24.5 million due primarily to lower operating margin.

The group's operating margin has in fact declined from 28.7% to 392 million euros. It reduces the overall activities of the group: -24.8% in urban furniture, -32.6% in transport and 46.1% in display.Despite this sharp decline in operating margin and the impact of the acquisition of an additional 49.2% stake in Wall AG, JCDecaux has reduced its net debt at December 31, 2009 of 36.6 million euros to $ 670 million payday loans for bad credit .

A 2010 uncertain

For the year 2010, the Chief Executive and Co-CEO, Jean-Francois Decaux expects "organic growth of around 5% in first quarter 2010. Nevertheless, the market continues to be characterized by reduced visibility and the possibility that we are at the beginning of a sustained recovery in the advertising market remains uncertain. "He adds, the Supervisory Board will also not pay a dividend in respect of 2010. "

The Paris markets to finish the balance

admin — Wed, 10 Feb 2010 00:00:24 +0000

Caution and reluctance on Tuesday at the Paris Bourse. The CAC 40 ended marginally in green, up 0.15% at 3612.76 points, after a gain of 1.22% to 3607 points on Monday. The wait is placing on the European markets. In London, the Footsie closed up 0.38% to 5111.84 points while in Frankfurt the Dax finished at equilibrium, nibbling 0.24% to 5498.26 points

The markets are eagerly awaiting the meeting of European heads of state on Thursday. They could announce measures to help Greece out of the crisis. A prospect that delighted investors."If markets anticipate real risk of restrictive fiscal policy, growth in coming years will be reduced to decrease with an increase in taxation and / or a reduction in state spending, but analysts fear of Aurel.

In addition to the annual report of the Court of Auditors, the macroeconomic news is strong in the rest of Europe, the German export growth of 3% on the month in December, data adjusted for seasonal variations, and 3 , 4% yoy, according to the Federal Statistics Office Destatis.

The euro stood up against the greenback, going above $ 1.37. One hour of closing, the euro bought 1.3762 dollars against 1.3648 dollars Monday to 23 hours.The extreme volatility is enormous and paris.

Renault with Nissan looking

Unibail-Rodamco (-5.48% to 145.65 euros) has announced a recurring net profit per share rose 7.1% to 9.19 euros and foresees for 2010 a growth of that income between 0% and 2 % low fee payday advance . The group proposed a dividend increase of 6.7% compared to 2008.

The heavyweights of the Paris stock exchange, such as Sanofi-Aventis (-0.62%), EADS (-1.03%) or Total (-0.83%), the largest market capitalization of France, are still at trend.

Vallourec (+3.41%) is supported by an increase in recommendation and price target from JP Morgan.

The banking stocks such as BNP Paribas (+2.4%) and Societe Generale (2.84%), are well oriented.

Nissan, the Japanese partner Renault (+3.20% at 33.68 euros), plans to conduct in 2009-2010, a profit of 35 billion yen, against a loss of 40 billion previously expected.

Moreover, Carrefour (+1.35%) receiving a positive note from Morgan Stanley.

Euro Disney (-4.22% to 4.54 euros) announces revenues for the first quarter of 2009/2010 financial year fell by 10.5% to 292 million euros.

Faurecia (-3.50% to 13.78 euros) has reduced its net loss in 2009 to 433.6 million euros against a loss of 574.8 million in 2008, and wants to pursue cost reductions in 2010, where it is an "operating margin of over 200 million euros.

Eurozone: Unemployment is rising, reached 10%

admin — Sat, 30 Jan 2010 19:45:04 +0000

The rate of unemployment in the eurozone and the EU at 27, continues to increase. Under the impact of the crisis, he crossed the month of December 2009 to below 10% for the euro area, a level not reached since its inception in 1998. The unemployment rate in this area was in November to 9.9% and 8.2% in December 2008. Within the European Union to 27, unemployment is also growing, reaching 9.6% in December against 9.5% the previous month.

In total, therefore, 4.628 million more unemployed recorded by the European Union to 27, particularly affected by the crisis on the employment front, since December 2008.

Belgium (8.2% unemployment in December), Luxembourg (6.2%) and Germany (7.5% unemployment only partly through the use of massive unemployment) are the least impacted by unemployment, while Latvia (22.8%), Estonia (15.2% in the third quarter 2009) and Lithuania (14.6 in the third quarter of 2009 as well), beat the European record of rising to a year.

With unemployment of 10.0% in December 2009, France is however exactly the average of the eurozone.