Novelli creates a commission on sales buoyant

Final figures will not be available before school, but this last day of summer sales, the Secretary of State for Trade Herve Novelli wished to reiterate its appreciation for this vintage 2010, one year better than the two previous Both declined. Visiting a temple Parisian trade, Galeries Lafayette on Boulevard Haussmann, the minister reiterated that the period of the balance which has just passed an average increase in turnover of between 5% and 15%.

Apart from e-tailers (Sarenza, Brandalley …) announced on Tuesday that rates of double-digit growth for the period, many professionals do not share the enthusiasm of Herve Novelli.The Federation of clothing stores (FEH) regretted that such an influx of customers from the first two weeks have calmed down a lot, accusing the floating balances, these balances traditional free-off period – established by law to modernize the economy in 2008.

"I heard here and there a number of criticisms concerning the treatment of sales", said the minister explained that the decision to introduce these additional weeks of balances had not been taken lightly and was the result of months consultation. Nevertheless, he announced the creation of a commission before 15 September 2010 to review progress on this measure for any amendments. Issue which does not entail, for now, its membership.

Echoing the complaints of his guest of the day, Philippe Houze, chief executive of Galeries Lafayette, Herve Novelli also Secretary of State for Tourism has benefited from his visit to criticize the mayor of Paris. Bertrand Delanoe has indeed refused classification of the Boulevard Haussmann department stores and in tourist areas, preventing their opening Sunday.

Extolling the benefits of overseas customers which is keen to encourage the arrival, the Minister expressed his disappointment, and denounce the importance of the shortfall caused by this decision. "We must understand the economic and tourism sector", he said, recalling that the vast majority of Parisians (70%) would not oppose the opening of large stores in the area on Sunday.

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Sharp rise in occupational diseases in 2009

The business risk insurance professionals has released its report for the year 2009. The number of accidents has decreased by 7.5% over the previous year, with 651,000 accidents reported. The frequency of accidents fell to 36 accidents per thousand employees, is historically the lowest level. The daily Les Echos who interviewed Stephane Seiller the director of this branch of the health insurance crisis is largely responsible for this decline in the number of accidents. Unemployment and decreased activity in sectors such as construction and metallurgy – 20% of salaried workforce today against 36% in 1950 – explains in particular the improvement. Stéphane Seiller also highlights the increasing prevention efforts.

Bond 9% of occupational diseases

The report is rather more pessimistic about the illness.Despite rising unemployment, they jumped 9% -13.5% a year over the last decade – to reach 50,000 new cases. Almost all of this increase is explained by taking better account of musculoskeletal disorders (MSDs) such as tendonitis and herniated discs … which account for 80% of disease. Better recognition by the French system, but also the consequence of the transformation of labor. The tasks become more routine and stress are the main contributors to the increase in these disorders. The handling of chemicals also cause the progression of certain cancers.Social Security today conducting actions to better detect them.

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Banier: 710,000 euros per year L'Oreal

The case Bettencourt rebounds in the economic field. Le Monde said in its edition dated 31 July, the bonds that unite Francois-Marie Banier, this time not to Liliane Bettencourt directly, but to society that it is the first shareholder, L'Oreal. The newspaper said the cosmetics group had concluded in 2001 a "sponsorship agreement" and a "service contract" with society Héricy, founded in 1996 by Francois-Marie Banier. The friend of Liliane Bettencourt would receive each year and 710,000 euros per year under these two contracts, and until December 31, 2011. Income is slightly lower than, for example, the patron of Michelin, Michel Rollier.

The day of the signing of these agreements, whose existence was confirmed by lawyer Francois-Marie Banier, it would have sent a letter to the former CEO of L'Oreal, Lindsay Owen-Jones, making reference to payments "Dear Lindsay, It is with great emotion that I have just signed the contract that allows me to work even for ten years without the desire to please," wrote François-Marie Banier, already accused by Francoise Bettencourt Meyers, the daughter of Liliane Bettencourt, "abuse of weakness" on the person of his mother.

This time, it is the shareholders who turned against Francois-Marie Banier. According to Le Monde, citing the lawyer Frederik-Karel Canoy, a sixty shareholders have decided to join the approach of Michel Tiphineau, a retiree who has already filed complaints against Francois-Marie Banier 5 July last for abuse of corporate assets .The Paris prosecutors opened a preliminary inquiry, which has been entrusted to police the financial police.

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Growth looks strong in Europe

Slew of good news on the front of the European economy. Drawn by the strong upturn in Germany, data released Thursday confirmed that the recovery is underway in the euro zone. What promise strong growth in the third quarter.

The economic sentiment index for the euro area published by the European Commission rises to 101.3 points in July, against 99.3 in June. It is the highest level since March 2008. The consensus of economists had forecast a flat to 99 points. Nevertheless, inflationary pressures remain subdued.

Increases in this index is due to "more optimistic about the general economic situation and a significant easing fears about the job in Germany, which are descended from 20-4 points, analyzing the Commission. The German unemployment, published also on Thursday, returned to 7.6% in July against 7.7% in June

"There's Germany side, and the rest of Europe on the other," summarizes economists Exane BNP Paribas. In Germany, the economic sentiment has jumped four points to 110.1, its highest level in three years. France is no exception, with an improvement of 2.6 points in the sense of confidence, despite an increase in the number of job seekers in June The Spanish index lost 2.2 points in turn.

Return investment

"The rebound in activity in the euro zone, typical of a recovery phase, due to the need for companies to invest again after a break of two and a half years' analysis does one Exane BNP Paribas. "Having replenished their stocks, companies must renew their equipment.The most telling example: in sectors such as semiconductors and computer overloaded with orders and are seriously under capacity. "

This improving trend in the euro area has also resulted in an increase in retail sales, as measured by the PMI / Markit. In July, the indicator shows the largest monthly increase in two years, "says Markit. "He remains well below the levels of activity in other sectors (industry and services, Ed), but reflects a substantial increase in consumer spending." What promise, according to Markit, a more balanced growth, "pulled the both by domestic demand and exports "in the second half of 2010.

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Banks have again supported the Paris stock exchange

Closing reassuring Wall Street yesterday gave a positive impetus for the Paris Stock Exchange on Tuesday, which has increased its earnings to grow by 1.57% enséance before reducing them after a disappointing statistic across the Atlantic on the U.S. consumer confidence in July.

At the final bell, the CAC 40 is 0.83% at 3666.4 points and preserves the points.Un 3660 this threshold had not been touched since June 22 last. Elsewhere in Europe, the London Stock Exchange closed up 0.27% to 5365.67 points.

French markets were again worn by banking shares. Yesterday, the shares had already boosted the index, in response to the publication of results of stress tests on Friday.On Tuesday, they went into high gear, including Societe Generale climbed 10.59% to 44.22 euros, Credit Agricole, which has soared 10.14% to 10.62 euros and Dexia, which has rose 7.32% to 3.87 euros. Axa and BNP Paribas followed with respective increases of 6.74% and 5.49%.

After trading, the markets will see the unemployment figures for the month of June in France.

In addition, the Department of Ecology has announced that the number of starts of new homes in France fell 0.3% for the period April-May to June, compared to the same period a year ago, while the number of building permits recorded an increase of 25%.

On the foreign exchange market, the euro continues against the greenback.Around 17:30, the euro was trading at just below $ 1.30, but the threshold has been crossed earlier in session.

The U.S. housing close look

Yesterday the key index in Paris managed to keep the threshold of 3600 points despite an early meeting very hesitant. Good numbers of U.S. homes have played an especially comforting to investors. And on Tuesday, rebelote: the Case-Shiller index of home prices meets the individual operators offering. It rose more than expected in May in the United States, +0.5%. The month of May and is the second consecutive monthly increase, a trend that comes after two months of consecutive decline.

But the Conference Board index, published in 16 hours, fell for the second straight month in July fell to its lowest level since February, to 50.4 in July against 54.3 (revised from 52.9) in JuneAn advertisement that has a little cooled investors.

Publication Burst

On Tuesday, the publications will be honored at the Paris Bourse:

Danone (-4.24% to 44.35 euros) announced before market opening a current net profit in the second quarter of 848 million euros and a turnover of 4.386 billion euros.

Altran (7.79% to 3.25 euros) has reported a turnover of the second quarter 2010 from 357.6 million euros (+2.3%). The group expects a significant improvement in the margin in the second half of 2010.

The Land of the Regions (-0.12% to 72.85 euros) published a recurring net profit increased 1.1% to 153.4 million for its first half, with rents of 264.1 million , up 1.7% at constant scope, and an occupancy rate of 94.4%.However, its net asset value, excluding financial instruments, stood at 73.20 euros per share, down from late 2009 due to the distribution of a special dividend for 2009, consisting of 3 30 euros in cash and six Beni Stabili shares, 52.5% owned subsidiary acquired in 2007

Note that M6 and LVMH will unveil their first-half results after market close. Vinci, Compagnie des Alpes and Fleury Michon publish their turnover for the period also after 17:30.At the same time, Air France KLM (+0.69%) will release first quarter results are.

Sanofi repulsed Klepierre sanctioned

The U.S. biotechnology company Genzyme has rejected a buyout proposal made by Sanofi Aventis (-0.94% to 45.15 euros) according to Bloomberg.

Capgemini (-1.1% to 34.98 euros) has announced the signing of a 6-year contract between its subsidiary Capgemini UK and Royal Mail Group Limited (RMG), the British postal service, for its service management computer.

Klepierre (-2.61% to 25.17 euros), revised down slightly its 2010 targets of current cash flow and rents, the prospect of austerity plans in Europe have slowed the recovery of consumption.

Icade (+1.05% at 73.83 euros) on Monday announced a net profit in the first half more than eight times while its net current cash flow per share, affected by the low profitability of its development division, declined 21%.

April Group (-2.88% to 19.76 euros), saw the decline in sales accelerated to 12.9% in the first half. This is explained by the group with a focus on its brokerage business, which should result in a decrease of 25% of the insurance business in 2010.

Finally, Technicolor (10.81% to 0.41 euros), has received a firm offer from the private equity fund Francisco Partners for the acquisition of the "broadcast professional" Grass Valley.

Sanofi-Aventis lowered its forecast for 2010

The pharmaceutical group Sanofi-Aventis, seeking a major acquisition, had approached the U.S. biotech Genzyme understands the Wall Street Journal on its website. In early July, the French had been the subject of market rumors about a proposed acquisition of U.S. $ 20 billion.

"Discussions are still in their infancy and there is no agreement expected in the immediate future. Issues such as price and management have not yet been addressed. " Both groups refuse to aAny comment.

According to the U.S. daily, officials from Genzyme, which specializes in products for the treatment of orphan diseases, are studying the amount that Sanofi would pay.In Stock, Genzyme capitalization stood at 14 billion dollars (10.8 billion euros) but the group can require a significant premium given its portfolio of drugs. "If we take as a starting point around the 20 billion dollars that has been discussed before, this puts Genzyme to $ 75 (per share)," said Michael Yee, an analyst at RBC Capital Markets.

Blow to Lovenox that will have to battle against a generic

In exchange, the action Genzyme has skyrocketed 15% to 62.52 dollars at the close of Wall Street. And during transactions unofficial title continued to grow.

Faced with competition from generic drugs, many pharmaceutical companies are looking for external growth.And the more that Sanofi-Aventis has paid this Friday a blow, with the approval by U.S. health officials the first of its generic anti-coagulant Lovenox star, his second top-selling drug in the world. "The FDA today approved the Administrationa first generic version of Lovenox, the FDA announced in a statement posted on its website.

This product is developed by the Swiss Sandoz, the generic arm of Novartis, Momenta and American society.Sales of Lovenox, a drug derived from heparin and more complex to copy a traditional chemical molecule had reached 3 billion euros worldwide in 2009, including $ 1.8 billion in the United States.

Sanofi-Aventis revised downwards its forecast 2010

In the first quarter 2010, sales of this drug was 769 million euros, which was still the second largest group of drugs sold worldwide. The FDA's decision also forced to Sanofi-Aventis to reduce its forecast for earnings per share for the year 2010. Sanofi has not waited for the publication of its results on July 29 to do to the markets. "At this stage, the group plans an evolution of the EPS (earnings per share, editor's note) activities for 2010 of between 0% and -4% compared to 2009 at constant exchange rates," says Sanofi- Aventis said in a statement issued late Friday.

In April, the group had confirmed capitalize on growth in earnings per share from 2 to 5% (at constant exchange rates). But this prediction was made without taking into account competition "potential" of a generic Lovenox.

In the longer term, Sanofi-Aventis said in its statement that it "renews its objectives for 2013, as was disclosed in July 2009. At this point the focus group said two billion euros in savings in 2013 compared to 2008, to prepare for the scheduled loss of patent protecting its key drugs in favor of generic manufacturers.

The sales of Sanofi made in the USA by its anticancer Eloxin fell sharply after the launch of generic versions, while its other cancer drugs, Taxotere, will drop its patent to the public in November in Europe and United States.

In late June, Sanofi announced the acquisition of American TargeGen for 560 million dollars (458.5 million euros) in order to strengthen the fight against cancer.

Three finalists for the ISP

Since announcing the departure of Gilles Michel DG Strategic Investment Fund (ISF), a few weeks ago, its main shareholder, the Caisse des Depots, is activated to find a replacement. Brigitte Lemercier, the headhunter mandated, would have considered up to 80 sheets grantee, including nearly half of unsolicited applications.

The Board of Directors of the ISP has agreed on a list of finalists. According to several sources, the CDC and the State will have to decide between Thierry Moulonguet, former CFO of Renault, now special advisor to Carlos Ghosn, Jean-Yves Gilet, CEO of Arcelor's stainless steel industry while Bruno Deschamps, who has just left the venture capital company 3i low rates payday advance.Until recently, the name of Jean-Dominique Comolli, former chairman of Altadis, was on that list, reduced to three names recently. If the timetable is respected, the verdict must fall next week.

The Asian stock troubled by the Fed

Having showered Wall Street Wednesday, the Fed raises doubts in the minds of Asian investors Thursday. The time is the interpretation of the remarks of Ben Bernanke, although they leave no room for doubt: the U.S. economic recovery drives the global economy is still slow and should remain so. As for the outlook, they are "extremely uncertain". Consider what further support through monetary policy actions.

On Thursday, the publication of new U.S. macroeconomic indicators will take the temperature, including enrollment figures for weekly unemployment benefits, the composite indicator of economic activity and housing resales in June There is also a wait before the release Friday of results of resistance testing What happened to the European banks.

The Nikkei hesitates

In Japan, the Nikkei remains very cautious. The Nikkei continues its trend since its opening in the red, to -0.67% (9216 points). The Topix lost 0.52% to 825 points. In China, the two stock markets' performance different, but both are marked by the reluctance of investors: as the Hang Seng in Hong Kong lost 0.16% to 20,453 points, the Shanghai Composite climbed 0.22% to 2541 points.

Elsewhere, the red is the dominant color. In, Korea, the Kosdaq was down 2.13% to 1285 points, the S & P lost 0.58% to Australia 4387 points and the Indian Sensex drops 0.53% at 17,881 points.

Leader Price opened with big brands

Coca-Cola, Boursin, Gervita and L'Oreal Paris will make their appearance on the shelves of stores Price Leader. A revolution for the brand discount Casino Group, which refused so far to integrate national brands on offer No credit check payday loans.

GDF Suez bid for International Power

The rumors have picked up this weekend in the British press about GDF Suez and the acquisition of British rival International Power. The group confirmed in a statement Monday morning that "discussions are continuing" on a rapprochement between the two groups.

"This merger would be achieved by issuing new shares in International Power profits of GDF Suez, which would become the majority shareholder of the new group International Power," the statement said.

The Mail on Sunday newspaper suggests an offer of 6.4 billion pounds (7.6 billion euros), or 420 pence per share. It is expected that International Power pays a special dividend in cash to compensate its shareholders.

"The new group International Power is listed on the Main Market of the London Stock Exchange, also states the release.

The Financial Times and the Mail on Sunday explained that negotiations between the two groups, which had ended without success in January, resumed two weeks ago. Through this transaction, GDF Suez wants to both increase its electricity production capacity from 68 to 100 GW and develop its international activities.