Posts Tagged ‘economics’

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Rumors surrounding the release of Apple TV

Wednesday, June 29th, 2011

The scenario leading to the release of Apple TV is taking shape. As the months that preceded the presentation of the iPad, in January 2010, the indices in Asia begin to multiply. Since the beginning of the year, analysts who were on the scene returned with the assurance that Apple had already started working with his subcontractors on the project. "Apple is in the preliminary stages of designing a TV," wrote this weekend Katy Huberty, the investment bank Morgan Stanley.

The entry of Apple in the TV segment, though still in the rumors, is already the subject of scholarly speculation in financial circles.According to the analyst Gene Munster of Piper Jaffray, which published a note last week, an Apple TV would make the company an annual turnover of $ 2 billion in 2012, a total market of hundred billion dollars. For its part, Morgan Stanley expects additional revenues long-term $ 19 billion, three-quarters of revenues generated by the iPhone in 2010.

The Apple TV built into a TV

If the analysts are so sure two is that while Apple pushes prior to embarking on television. The company initially afford, thanks to profits generated in recent years by the iPhone and iPad. Perched on a cash reserve of 77 billion dollars, Apple announced earlier this year signed a two-year contract for $ 3.9 billion from a mysterious supplier.According to Gene Munster, this investment will supply 3.5-inch screen (diagonal measurement of the iPhone) to 50-inch TVs.

More importantly, analysts point out that the TV fits perfectly into the strategy of Apple. The company markets since 2007 Steve Jobs Apple TV, a box that provides access to the contents of Mac and online services on the big screen the show. First described as a "hobby", the small device has received a major update last fall. He is now based on the same basis as the iPhone, which takes the processor and operating system, IOS. Apple has sold 2 million since then.

Leaving a TV, so Apple could integrate Apple TV into a flat screen and add some new features free business cards."Videoconferencing FaceTime, the App Store App Store and iTunes and the game would find their natural place," writes Brian White Ticonderoga Securities. This TV would display the photos, music and files stored on icloud, the new storage online Apple suggests Gene Munster. As for Apple TV today, the unit would go from an iPhone or an iPad, as a remote control.

The reluctance of TV

Analysts who have studied the subject, the players already installed, such as Samsung, LG and Sony have every reason to fear the arrival of Apple. The power of its brand and the uniqueness of its design would wreak havoc. "Television is the center of living rooms around the world, and an Apple TV would likely be a huge success," anticipates Ticonderoga Securities.As for the iPhone, Apple could attempt to enter the market by the high-end model with a 2000 dollars, Piper Jaffray suggested in the summer of 2010.

In addition to competing with electronics manufacturers, Apple would also respond to Google and Microsoft, that have made television a major development. After testing mixed in television connected, Microsoft has taken a strong position in the home through the Xbox 360, and its video-on-demand and video conferencing. Google, which launched last year the platform Google TV, is it more worthwhile. But a major update, dubbed "Fishtank" is in preparation.

Despite these optimistic forecasts, Apple will have to adapt outside the United States in very specific local markets.In France, telecom operators already provide access to video on demand and Internet through their "box", very well established. For now, televisions connected televisions are more "connected", judged last week Nonce Paolini. Preparing for the arrival of Apple and Google, the owner of TF1 has also requested a "sanctuary of the signal" so that these new actors in television do not add information connected interactive emission channels without permission.

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IMF: Lagarde wants to continue the reforms initiated by DSK

Friday, June 24th, 2011

The oral examination lasted three hours. Christine Lagarde, the French candidate for the leadership of the International Monetary Fund (IMF) met during this period with members of the board of the organization. When he left the organization's headquarters in Washington, she said, in a brief statement to the press, its wish to be selected to continue the reforms initiated by Dominique Strauss-Kahn.

"I think we should make the Fund more responsive, more efficient and certainly more legitimate. And that really requires a lot of potential improvements, but also the continuation of reforms that were undertaken by my predecessor, "she said in English. "I believe that the Fund is a remarkable institution with an exceptional staff, and must always strive to be more responsive, more engaged, more legitimate with all of its 187 members.In any case, it would be my ambition, "she said, in French this time. "It's now up to member states to decide."

The French Minister of Economy is opposed to a Mexican candidate, the governor of the central bank Agustin Carstens, to succeed the French Dominique Strauss-Kahn, who resigned May 18 It provides, inter alia, support non-official Washington. The U.S. treasury secretary, Timothy Geithner, "believes that the experience and solid leadership skills of the Minister Lagarde make her an exceptionally gifted candidate for the general direction of the IMF."

The next step is a formal meeting of the board Tuesday to consider the two applications. The Board of Directors of the IMF must choose between her and Agustin Carstens by June 30.

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The CAC 40 expected a slight increase

Monday, June 13th, 2011

Slight increase expected on Monday in the Paris Bourse, in the wake of the Asian stock markets, including that of Tokyo, weighed down by disappointing statistics, and uncertainties about the evolution of the global economy. On Friday, the benchmark index in Paris ended its session already clearly in the red (-1.90%) and signed a sixth consecutive week of decline, erasing its gains since the beginning of the year. At 8:15 AM, futures contracts on the CAC 40 advanced 0.17%, to 3803 points.

Clearly, the objective of the meeting will be to keep the bar of 3800 points, narrowly saved this weekend dernière.Aucun major macroeconomic indicator is expected for Monday of Pentecost, which is also expected to take place in low volumes. In this day of solidarity in which the majority of employees stay home, exchanges should in fact been limited.Especially as the business side, no publication is awaited. Again, macroeconomic considerations should therefore guide the market for the first weekly session, including uncertainties about the Greek situation.

Side currency, the euro remained under 1.44 dollars on Monday morning after he experienced back Friday when he was the most sold since the beginning of the month because of disagreements between the various parties the solution to support the Grèce.Vers 8:00 in Paris, the European single currency was worth 1.4343 dollars against 1.4348 dollars on Friday night after coming close last Monday the threshold of $ 1.47 for the first time in a month .

Same side of the volatility of oil prices in a market torn between the prospects of increased production by Saudi Arabia and the maintenance of quotas decided by OPEC.In morning trading, a barrel of light sweet crude for July delivery lost 9 cents 99.20 dollars. That of Brent North Sea crude for delivery gained 13 cents to equal 118.91 dollars.

As for values ​​to follow

Altran

Yves de Chaisemartin lost Friday the group's management, the Board of Directors of the technology consulting company has designated Philip Hall to replace him.

Air France – KLM

The airline's traffic in the Paris airports Roissy and Orly airports may be disrupted on Monday due to a strike notice filed by a union of mechanics on the ground, have we learned from the company.

LVMH

Sephora, the cosmetics distribution subsidiary of luxury group, said to have strengthened his hand in the round of Corsica in Russia, becoming the majority shareholder in nearly three years after joining the company's capital .

EDF

NPP Bugey in Ain, had to reduce its production by 10-15% in late May and early June due to increased water temperatures of the Rhone, an effect of the heat wave spring.

Eutelsat

San Marino RTV has selected two Eutelsat satellites to broadcast its programs through Italy and Europe as of June 13

EADS

Airbus chief says EADS, parent company of Airbus, would be protected against hostile takeover bids but, to this end, it was not essential that Germany be a shareholder in the group.

Carrefour

The management of the distribution group said Sunday, a day after a protest movement, have made a major effort for employees of Carrefour Market stores in terms of purchasing power.

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Reduce immigration, a red herring for economists

Friday, May 27th, 2011

In recent weeks the government has repeatedly expressed its willingness to reduce migration flows. In April, the Interior Minister, Claude Gueant, promised "to bring down the volume of legal immigration." This week, the immigration of work he begins work. "Contrary to legend, France did not need the skills of immigrant, said the minister. It has the resources necessary "to fill its vacancies and" did not need bricklayers nor servers restaurants. "It is common sense," outbid Tuesday Budget Minister Baroin. A sense that still leaves many economists skeptical.

"On paper, it may be tempting to put face to face and unemployed immigrants," said Patrick Simon, a demographer at INED.If the French labor market was free of immigrants, it would make it not even more vacancies for indigenous peoples whose unemployment rate is one of the main concerns? "They forget that these two categories of people are not interchangeable," said Patrick Simon. Clearly, natives and immigrants do not occupy the same types of jobs, and make little competition. "They would rather complementary. And in this regard, there is a relative consensus, says Xavier Chojnicki, economist at CEPII and University of Lille 2. Most studies find indeed a very small impact of immigration on unemployment. "

"In France and Europe, the labor market is very segmented," he says. Immigrants often occupy low-skilled jobs, low wages, difficult working conditions.Areas of restoration, construction and personal services for example, still struggling to fill jobs that natives consider insufficiently attractive. According to the latest survey on the needs of labor performed by employment center, 61% of the offers of aid to home and pose difficulties for recruitment. "If the stream of immigration had to be reduced, this would create further difficulties in recruitment of these areas," said Xavier Chojnicki. With a probable consequence of a sharp rise in the black.

20,000 people per year

"In addition, try to reduce labor migration is surprising because it includes more migrants selected," Patrick says Simon.These 20,000 people a year who come to work in France at the request of business owners do in fact represent a small fraction of the 200,000 immigrants who settle there each year, including family reunification or humanitarian grounds. "Employers expect an easing of the rules because they need the foreign labor," he says.

Since 2006 and until recently, Nicolas Sarkozy also advocated for a "selective immigration", encouraging the arrival of candidates selected according to their professional profile. "Since then, labor migration has increased from 10,000 to 20,000 per year," said Patrick Simon. A marginal number compared to 500,000 job vacancies currently unfilled in France. "In total, this is not much either compared to the total migratory flow," J. demographer.Because France, like most European countries, is struggling to bring immigrants into its territory the most attractive. As such, Canada, Australia or the United States doing well ahead of the game their best

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Rio Tinto, a provider of medals at London Olympics

Friday, April 22nd, 2011

Rio Tinto will be behind every Olympic medal at the upcoming London Olympics 2012. The Anglo-Australian mining giant has indeed been chosen by the International Olympic Committee to be the official supplier of metals used to manufacture them. In total, Rio Tinto will provide all the gold, silver and copper for the production of the 4700 Olympic Games medals (OJ) and Paralympic Games.

On a specific page on its website, the group says that the mines from which metals are extracted will be located "at opposite sides of the globe." This is actually mine Bingham Canyon, United States, and that of Oyu Tolgoi, Mongolia. The making of medals will be given to the prestigious British Royal Mint.

The group will not be his first time since he was chosen in 2002 for the Winter Olympics in Salt Lake City.In 2008 in Beijing, was his rival BHP Billiton's history who had played the role of official supplier of the committee.

Sponsor

For now, design and composition of the medals are still being studied, and the details should be finalized later this year. But the official recommendations of the IOC should not be very different from those issued to Beijing in 2008. 3 years ago, the Committee wishes such as for individual events, the gold is composed of at least 92.5% silver and 6 grams of pure gold. The silver medal was also to be composed of 92.5% pure silver. The three medals were to be 60 millimeters in diameter and 3 millimeters thick.

Rio Tinto could be asked to provide similar amounts of 9 kilos of gold, 9 silver and 4 tons of tons of copper.Olympic Winter Vancouvert 2010, the mining group, Teck had medals for 1000, delivered 2.05 kilograms of gold, 1950 kilograms of silver and 903 kilograms of copper.

At current prices, this represents almost 300,000 euros gold, some 30,000 euros copper and nearly 9 million of money. "They become sponsors. For them, the benefits in terms of image will be even more important, "says Patrick Schein, owner of Gold by Gold, an expert on gold.

No "golden fair in London

Like his colleagues in the Alliance for Responsible Mining (AMR), the owner of Gold by Gold also regrets that the Committee has preferred to entrust the entire supply of gold in giant Rio Tinto. With laFairtrade Labelling Organizations International (FLO), AMR defends indeed a fair gold label which "offers precious metal quality and respectful human social values."But "Rio Tinto is one of those big mining predators for a kilo of gold are 60% margin and pay 2% royalty to the State. They say they respect the principles of sustainable development but it is an image that they give themselves to be accepted by states and pension funds, "Patrick Schein annoyed.

FLO, which had contacted the Committee, had hoped that at least part of the gold medals are labeled, especially since the label, called Fairtrade & Fairmined, was officially launched in Britain in February . "It is the committee's choice. It is understandable because they have a budget to buckle. We may also launched the label too late for them. But they could play the game, "lamented Patrick Schein. Advocates of fair gold does not intend to stop there, however: "It may be next time.A major sporting event is an incredible opportunity for gold to shine just before more than 3 billion viewers. A great champion pulling a coin would symbolically labeled hard! One day we will get there, "says the boss of Gold by Gold.

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Brazil Embraer sells 35 planes to China

Tuesday, April 12th, 2011

These are two engines of global growth are meeting this week in China. The president of Brazil Dilma Rousseff meeting today with his Chinese counterpart Hu Jintao in Beijing.

Hours before the arrival of the Brazilian president, business partnerships already announced. Chinese airlines have ordered 35 aircraft and Embraer E190. This order is valued at 1.4 billion dollars, since each device costs $ 40 million at list prices. Of the total number of aircraft ordered, twenty are for China Southern Airlines and fifteen join Hebei, a small regional airline.

The contract was signed by Ministers of Industry of both countries during the visit of Dilma Rousseff. China has also expressed its intention to invest ten billion dollars in soybean production in Brazil.Beijing is the largest importer in the world.

Out a role of mere suppliers

In post for just over three months, Dilma Rousseff hopes to strengthen trade ties between the two emerging powers. Brazilia seeks out a relationship of mere supplier of raw materials for Beijing, while "Made in China" products flooding the Brazilian market.According to the China Business News, the Brazilian head of state has already expressed its intention to propel Brazil to the rank of major trading partner of China.

During his five-day visit, Dilma Rousseff must also attend a summit BRICS (Brazil, Russia, India, China and South Africa) to be held in the south on the island of Hainan.

Moreover, the "BRIC", the four large countries 'emerging' economic boom: Brazil, Russia, India and China are expected to occur this weekend, April 14, to développerleurs trade.

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The false espionage affair cost $ 11 million to Renault

Saturday, April 9th, 2011

The false espionage affair may be very expensive for Renault. According to a survey published tomorrow Marianne, the three executives dismissed wrongly claiming the automaker between 2.4 and 3.2 million euros for moral prejudice. Unprecedented amounts, with the exception of the 45 million euros paid to Bernard Tapie in connection with the Credit Lyonnais case, and in addition to statutory compensation and unfair dismissal. In total, the addition to the builder could climb to 11 million euros.

The three executives, who made between 12 and 32-year career at Renault, has already received compensation law: 480,000 euros for Michel Balthazar, 200,000 euros and 50,000 euros Bertrand Rochette Matthieu Tenenbaum, according to Marianne.He will also receive compensation for wrongful dismissal amounting respectively to 750,000 euros, 500,000 euros and 120,000 euros.

Abuse of social good or tribunal

Each also claims are moral damages, which are considerably higher than these amounts.Michel Balthazard require 3.2 million euros, Bertrand Rochette 3 guaranteed approval cash advance loans.5 million euros and Matthieu Tenenbaum 2.4 million euros.

As for Philippe Clogenson also dismissed under an earlier anonymous tip, the same type as that which launched the pseudo-espionage, he could rejoin the group with a salary higher than previous financial compensation to approximately 300,000 euros.

Renaut now faces a dilemma: if the group agrees to pay the sums demanded by executives wrongfully dismissed, "she takes the risk, in turn, be a complaint for abuse of social good," writes Marianne. "Conversely, if Renault refuses to bow to their financial demands, the company takes the risk of sounding prud'hommal trial and a new media campaign, terrible for the image of the brand and, most importantly, for its CEO. "

The decision could be taken at a meeting of the Board extraordianaire Renault scheduled April 11.

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Ferrari: "We did nothing to prohibit TF1

Monday, April 4th, 2011

A year before the presidential election, TF1 device adapts its campaign. The management of the private information of the channel will set up its schedule from May to make room in the extension of the newspaper 20 hours, a new monthly political appointments.

Presented by Laurence Ferrari and François Bachy, the Director of Policy, 8:20 p.m. to 8:40 p.m., the show policy fits into "break with the newspaper," says the presenter and editor of news at 20 hours, causing this new appointment. "I really wish the tone of the show is different from your" news "of the newspaper where we interviewed general policies on the news for 4 or 5 minutes with questions strained. Here, we are really in a format of 20 minutes we can go in both the program in pedagogy and in decoding.I think the French, even if they shun certain elections, want to understand. There will also sound elements that we will bounce back. On leaving the show, there will be a little better understanding of who is invited and especially what vision he has of France and of society, "says one who is also Deputy Catherine Nayl to management information TF1, the drafting of some 250 journalists.

A fairly compact format

From 2006 to 2008, the program "Sunday + on Canal +, Laurence Ferrari was noted for his pugnacity of political interviews. "This tone, I always kept. Those who watch the newspaper know that I have not changed much. But Francois Bachy, we wanted them to leave anything other than what they usually leave the uplands. That may be a bit ambitious but we hope to do, "she says."It was a long time there had been no political broadcast on TF1, said Laurence Ferrari. During the campaign, there may be an acceleration of the frequency of this issue and prime times. We had "I have a question for you" format "French Song" exists savings account payday advance. But we wanted to have a format to us, which we are already thinking. "

The political difficulty in viewership. What nourishes the goal of information management of TF1 by placing this new appointment just after the news, large vector hearing? "Around 7 million viewers, guess Laurence Ferrari. We make this policy issue that we believe when the hearing is the strongest of the day.But the poll published in The Pilgrim (March 29, Ed) comforts us in the fact that the French are attached to their JT, on a long term (at least 30 minutes), and only two-thirds of them JT is the only medium of information. "

Gill Birch, the new "wild card"

Asked about the potential evolution of JT, Laurence Ferrari said: "It is in any way out of the question shorter. However, we do not forbid to imagine a large slice of information overflow before or after the newspaper received a few more guests because we sometimes have a material so dense that we did 30 minutes not the time to bring. We do not forbid to TF1. However, these are just projects. The newspaper is solid and stable in its structure. JT is the most watched daily for all countries.We are leaders in France and Europe, and even JT Americans are not better ", says she.

Harry Roselmack, the "wildcard" Laurence Ferrari at the presentation of the news at 20 hours since 2006, announced in March his desire to quit his post after next summer to devote himself fully to the presentation of "Seven Eight "and the filming of the news magazine" Harry immersion. "He wanted to make the magazine, is irrepressible. I understand, although I regret it because we were a good pair. I welcome Gilles Birch (now Washington correspondent, Ed) with equal enthusiasm. He just writing and I love that look American, "says she.

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Deutsche Börse calls for merger with NYSE Euronext

Sunday, April 3rd, 2011

After the cons-offer Nasdaq OMX Group and IntercontinentalExchange (ICE), NYSE Euronext, Deutsche Boerse boss Reto Francioni, says its proposed merger in the columns of the Frankfurter Runschau. Deutsche Boerse and NYSE Euronext had announced their merger on Feb. 15 designed to give birth to the first exchange in the world, 60% owned by shareholders of the German group and 40% from those of the transatlantic operator. For the owner of the German operator, the project remains "the best combination" for shareholders of both groups.

He refused however to say whether he will increase his offer. Nasdaq OMX and ICE have made an offer Friday to $ 42.50 per share in cash and stock for the entire share capital of NYSE Euronext, the end, the proposed $ 11.3 billion. This is higher than 19% of Deutsche Börse, which is otherwise entirely denominated securities no faxing pay day loans.The offer from Deutsche Börse provides for the exchange of each action against a new set of common share and exchange each share of NYSE Euronext's equity share capital 0.47 cons of the new company.

Asked about the risk of a long legal battle to get the green light by competition authorities for its proposed merger, Reto Francioni said that it was for him not a "takeover" but rather a cooperation agreement between Deutsche Boerse and NYSE Euronext. "It's not for us to conquer or be conquered. For us it is an amalgamation of two partners are well positioned, "he said.

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A new marriage changes the stock in Europe

Saturday, February 19th, 2011

The vast movement of concentration in the stock market operators for accelerating and even alternative trading spaces. From sources in the night, the two main platforms multilateral trading facility (MTF) Chi-X operations in Europe, Bats and Global Markets, based in the United States, have signed an agreement formalizing their wedding and should the next week. Bats absorb its competitor after an initial payment of $ 300 million, then two more than 30 million each in 2012 and 2013, Chi-X reached performance goals.

Thus, the deal values the group at nearly U.S. $ 1.2 billion. With this new development and implantation in the European markets, Bats can carry out its proposed IPO.

Chi-X would be him, valued $ 360 million.The operator based in London was born in 2007 in response to the new MiFID regulations aimed at liberalizing the stock market and break the monopoly of the incumbents on stock transactions in order to cut cost of trading orders.

The emergence of these independent platforms has lost significant market shares to managers trading history, nearly 25% for NYSE-Euronext, which retaliated by focusing today.

Concentration to be more competitive

Tuesday, Deutsche Boerse manager of the Frankfurt Stock Exchange and NYSE Euronext Head of New York Stock Exchange, stock markets in Paris, Brussels, Amsterdam and Lisbon have confirmed their intention to merge. An announcement that closely follows that of stock exchanges in London and Toronto. And six months earlier, the indices of Singapore and Sydney had similar intentions.And the race for redemption is only just beginning: the Financial Times reported Thursday the existence of discussions between the Shanghai Stock Exchange and Brazil this morning and rumors suggest a rapprochement between the U.S. Nasdaq OMX and the Intercontinental Exchange (ICE ).

A union between Chi-X and Bats could even accelerate the current trend towards concentration. In fact, the major stock exchange operators are similar to regain market share against the trading platforms or if they commit themselves as a movement of concentration, the race for size could accelerate further.

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