Business & Financial News

Wage employment in the private sector grew by 0.4% over the last quarter of 2010. In the first quarter of 2011, the employment of non-agricultural market continues to grow (+58 800 jobs, or 0.4%) in France.

Wage employment in the market sector grew significantly in France in the first quarter of 2011 compared to the previous quarter by 0.4% or 58,800 net new jobs created, according to preliminary data published by INSEE Friday 13 mai.Au last quarter of 2010, 37,600 net jobs have been created dja.

After a sharp slowdown in the pace of job losses in the previous quarter, employment in the industry is stabilizing in the first quarter 2011 (600 posts). In construction, employment grew slightly by 0.1% with 1,400 jobs created.The employment increase is primarily due to the tertiary sector which has created 56,800 net jobs in the first quarter (+0.5%).

The number of temporary workers is increasing in the first quarter of 2011 but on a slower pace compared to fourth quarter 2010 (+13 500 or +2.3%, against 22 500, or 3.9% the previous quarter) . Over the full year 2010, France had created 124,600 payroll jobs in the private sector, mainly through the interim.

The Tokyo Stock Exchange finished down 1.5% on Thursday, hurt by the decline in commodity prices.

The Nikkei lost 147.61 points to 9,716.65 points and the Topix broader yielded 8.28 points (-0.97%) to 849.34 points.

Titles related to raw materials showed the largest declines, Sumitomo Metal Mining and Mitsubishi respectively, yielding 3.08% and 2%.

The strong results posted by Toyota Motor, however, have argued throughout. The title of the automaker closed the session up 3.06%.

Eutelsat said that having a visibility "very strong" on the end of 2010-2011, noted on Tuesday its annual sales target and found it well placed to exceed its forecast EBITDA of light one quarter growth of 10%.

The satellite operator, which now seeks sales of at least 1.16 billion euros for the full year and rely on confirming an EBITDA of over 875 million, has published a turnover of 295.2 million euros in the third quarter, driven by all its business segments.

"Today we are very pleased with our performance.There remain three months (year) 2011 and we have a very high visibility, "he told Reuters its deputy CEO, Jean-Paul Brillaud during a telephone interview.

The group was previously with annual sales of 1.12 billion euros.

"We have indicated a target of over 78%, I think we will still be over, given the performance of our turnover," he said about the annual forecast of profitability group.

Eutelsat has jumped to its services called "multi-purpose", which include among others the capacity leased from governments in the Middle East and North Africa.The turnover of the industry jumped 30% to 32.6 million.

Segment, whose performances evolve with the political uncertainties, has been boosted recently by urgent needs, mainly from the U.S. government, against the backdrop of socio-political turbulence in these regions.

"We see demand growing very significantly (…). We see very strong growth in volume and fairly high in price," said Chief Executive Officer of Eutelsat

"These are short-term capacity and right now there is a lack of capacity extremely loud.Needs (are) so compelling that the U.S. government agencies rent at full price, which reflects the scarcity of capacity, "he said.

The Eutelsat closed Tuesday virtually unchanged at 29.77 euros, a market capitalization of 6.55 billion euros. She earns 8.8% since the beginning of the year after rising 22% in 2010.

While a report intended to involve doctors who prescribed the Mediator as an appetite suppressant to compensation to victims, the health minister said Sunday that only pay Servier.

The Health Minister Xavier Bertrand has sought to extinguish incipient controversy Sunday with the doctors on compensation for victims of the Mediator. "Doctors will not be paying. I say this very clearly," said the Minister in issuing C. Policy on France 5.

He was reacting to the outrage among doctors According to information published Saturday in Le Figaro on the public fund to compensate victims of the Mediator to be introduced Wednesday in the Cabinet.

The newspaper cited an unnamed source "who participated in drafting the text" and assured that "will be paying the Servier Laboratory, or the doctors who prescribed the Mediator outside the accepted indications."

"In other words, doctors who prescribed the drug limited to antidiabetics in persons wishing to lose weight, could be targeted," added the daily.

This article was written "on the basis of preparatory documents and not from the text itself" to be presented by the Council of Ministers, assured Xavier Bertrand. Questioned by AFP, the Department of Health said on Saturday that doctors could be called to "go into the process" to compensate victims of the Mediator."Doctors may be asked to participate in the compensation of victims after it is established medical expertise they have some responsibility," had they added the same source.

However, Sunday, Xavier Bertrand assured: after reviewing the file and if there is "prejudice", "the Oniam turns against the laboratory Servier. Point. Because it is precisely that produced the Mediator." "The Oniam will not seek the responsibility of a doctor," he stressed. The compensation fund will be managed by the National Compensation medical accidents, iatrogenic and nosocomial infections (Oniam).

Anti-diabetic widely misused as an appetite suppressant, the Mediator would have done in 33 years between 500 and 2,000 deaths, before being withdrawn from the French market in November 2009. Hundreds of complaints have been filed to date.

Physician unions reacted strongly Sunday to a possible defendant. "I find it particularly outrageous that one looks for scapegoats in this case through the prescribers," he told Europe 1 Claude Leicher, President of MG France, the leading syndicate generalists. "We have documents that show that when doctors had doubts and questioned the laboratory, they were told that this product does not pose any particular problem," he added.

For Dr. Michel Chassang, president of the Confederation of French Medical Unions (CSMF), largest union of private practitioners, this "direct indictment of physicians" is "completely ridiculous". "If an institution must be questioned is the one who authorized the sale of the drug, it seems logical. The doctor comes entirely downstream," he told AFP.

Receives a request from a victim, Oniam Servier will turn to systematically asking him to directly compensate the person for a specific amount. If the pharmaceutical company refuses, the Oniam indemnify the victim to court to obtain reimbursement from Servier accompanied by a significant penalty.

Societe Generale will provide an envelope of 729 million euros bonus for fiscal 2010, we read in a document available on the website of the bank.

SocGen said that this amount is spread among 3,663 employees, is essential for people working in its Corporate and Investment Banking (CIB).

"Thus, for the year 2010, variable compensation deferred account for nearly 60% of total variable remuneration of professionals from the regulated population," reads the document.

"The average amount paid variable for 2010 in March 2011 decreased by 14.7% compared to 2009 while the results of the BFI was progressing strongly," says the bank.

In late April, BNP Paribas, the first French bank by market capitalization, said it would pay one billion euros in bonuses for 2010, an amount lower by 17% compared to that paid a year earlier.

The management of The Tribune on Wednesday confirmed the departures to strategic differences François Lenglet, editor, and Olivier Provost, Deputy Editor, released yesterday by Reuters.

Valérie Decamp, CEO and majority shareholder of the business daily said in a statement that it "is now a team," without elaborating on the identity of potential successors at the head of the writing.

Valerie Decamp bought a year ago to businessman Alain Weill 80% of The Tribune.The latter owns the media group NextRadioTV, had himself bought The Tribune through his personal holding company LVMH News Holdings in February 2008.

The Tribune has been placed in early January procedural safeguards to suspend payment of its debts over time to bail out the title.

Plagued by financial difficulties, the newspaper is looking for several months investors to recapitalize the release of up to 15 million euros.

The backup procedure allows a company that is not in default of payment to shelter from its creditors time to restructure and identify potential funding.

To save the newspaper, which has set a goal of reaching profitability in 2012, returned to the tabloid and ceased publication in its printed on Saturday. The group also focuses on activities "outside media" and expects "significant impact" of the launch of its vocational training courses and conferences.

Valerie Decamp Wednesday confirmed its objective of restoring the balance next year, saying it expected a profitable fourth quarter 2011. She also said to have achieved 50% of projected savings over the year.

The steady rise of the euro against the greenback on track to $ 1.50 revives investors' fears about the effects this might have on the results of European exporters.

This increase could also put an end to the correlation in recent weeks between the single currency and the euro zone equities.

The titles of aerospace companies and other companies producing in the euro area and exporting to the United States are most vulnerable to this situation, while exporters are heavily exposed to emerging countries, whose currency also rose against the dollar, should be less affected.

Over the last seven weeks, European equities, which have withstood the recent market shocks (nuclear crisis in Japan, events in the Arab world, rescue of Portugal and expectations of a debt restructuring Greek) have yet progressed alongside the euro.

However, with the highest 17 months of the euro hit 1.4903 dollars on Monday (+15% since January against the greenback), European stocks are approaching the "pain threshold" at which analysts and companies must adjust their earnings forecasts.

"(The current level of the euro / dollar) is starting to be a problem.We should start to see in future issues of companies and their prospects for the second half, "said Frederic Dodard, director of management multi-asset class for EMEA at State Street Global Advisors.

"ON FATE OF THE COMFORT ZONE"

Last year, European markets were affected by the debt crisis of the euro area but rebounded in the wake of the euro during periods of heightened appetite for risk, a number of foreign investors using strong positive correlation between single currency and the shares of the region as signals to buy and sell orders for stocks.

In this case, the correlation of 30 days between the euro and pan-European Euro Stoxx 50 index rose 0.61 last week, against an average of 20 years to -0.1, but it seems close to overturning.

"Over $ 1.50, we leave the comfort zone," said a delay based in Paris.

"That does not mean that the entire market will be bearish, but people will start to become reluctant to buy securities of exporting groups, at least until we know the impact (in the euro -dollar) on the results. "

Philippe Nahum, CEO of B * Capital, said that the rising euro could take companies off guard and some of them might not have covered an assessment against the single currency.

"All values ​​are not exposed equally to the dollar. European companies that produce and sell in euro dollars are penalized. They lose competitiveness," he says."(But) companies that produce outside the euro area and sell in the eurozone are winning."

If the euro continues to appreciate against the dollar, the market will avoid exporting European values, such as EADS, and especially businesses that have offshored some in the dollar zone, "warns Philip Nahum.

In fact, EADS, whose executive chairman Louis Welsh said that each increase of 10 cents of the euro against the dollar cost the group its one billion euros in terms of annual operating profit, lost 3.5% Last week the stock market because of the increase in single currency.

German companies are less exposed to this problem, managers emphasize, as exports take place instead in the German sector of capital goods to emerging markets. Yet their currency against the dollar also rose.

Registrations of new cars in France fell 11.2% in April, their first decline since the beginning of the year aftermath of the end effect scrapping.

Registrations stood at 169,453 units in France last month, said Monday the Committee of French Automobile (CCFA).

April had 20 days against 21 days for the same month of 2010. A comparable number of working days, the decline in registrations was 6.8%.