Archive for the ‘economic’ Category

The father died on the CD

April 24, 2011 - 1:00 pm Comments Off

A man at the crossroads of the worlds of music, technology and business. Norio Ohga, father of the "Compact Disc" and former boss of Sony, died Saturday at age 81. It was as boss of the Japanese consumer electronics that monitors closely the birth of the CD with its Dutch partner Philips in the early 80s. He insisted then that the disc 12 cm in diameter can hold 75 minutes of Beethoven's Ninth Symphony.

This commercial success and technological, which then lead to the emergence of DVD, will remain as the main weapon is to Norio Ohga. But it should not overshadow his work as head of Sony. "He transformed the Japanese conglomerate manufacturer of electronic products in a firm's creative music, movies and video games," says the Wall Street Journal."We were always digging the tracks that other groups did not dare to follow," explained Norio Ohga in 1998. "This is the real secret to our success."

Explosive path

His entry into the firm, like the rest of his career then detonates. Student in musicology at the University of Tokyo, in 1953 he impressed the executives of the firm which became Sony in a letter advising them of improvements to the prototype of tape. Hired as a consultant, Norio Ohga follow a rapid and brilliant trajectory within the company. He became one of the executive directors from the thirties, something extremely rare in Japan. In the '70s, he led negotiations with CBS that will lead to the creation of Sony Music Entertainment and will lead.

President of Sony from 1982 to 1995, Norio Ohga innovates. It supports the development of the Walkman, launched in 1979.In 1989, he led the largest acquisition at the time a Japanese firm abroad by offering the Hollywood studio Columbia Pictures for $ 3.4 billion. This maneuver discontent across the Pacific. Rumors will ever drive on the possible resale activity, difficult to make profitable. The real stroke of genius of the president Norio Ohga is unquestionably won his bet in video games. In the early 90s, he in fact supports the launch of the Playstation division within the group. It is now one of the largest departments of the group.

Debonair boss

Nohga Norio, Japanese boss atypical-described good-natured, not shy, and has an artistic temperament, however, has not as successful. Shortly after the launch of the CD, and it fails to impose its Betamax video format against HSV.Advisor to Sony these days, he could only see, in recent years, the cons-performance of its group. Sony did not see coming the success of the flat screen and has lagged behind its South Korean rival Samsung. In video games, Nintendo has his compatriot hewn cruppers. Even in the music industry, the Japanese has been exceeded. By innovations from Apple this time.

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Levy: "Vivendi saw a major turning point"

April 21, 2011 - 8:48 am Comments Off

On Thursday morning, Vivendi held its General Assembly at the Carrousel du Louvre in Paris. The opportunity for its chairman, Jean-Bernard Levy, back on the recent strategic transactions conducted by the media and telecoms group. The acquisition in early April, the entire capital of SFR marks the end of an era. The former Générale des Eaux was transformed into Vivendi Universal Jean-Marie Messier. This group was then a holding company, often minority participations disparate telecoms, television, cinema, internet, music … After going through a severe debt crisis in 2002, Jean-Rene Fourtou and Jean-Bernard Levy has radically restructured the group .

LE FIGARO. – The purchase of 100% of SFR is it a milestone in the history of Vivendi?

Jean-Bernard Levy. – Since its inception in 1987, we never had sole control of SFR.Jean-Rene Fourtou, upon his arrival, has understood the strategic importance and it has fought since 2002 to buy Vivendi's participation for sale by BT. It is only recently that Vodafone, our partner from the beginning accepted the idea of ​​selling his share. In late 2009, we launched the sale of our 20% stake in NBC Universal, and there is barely three months we have realized. The proceeds from this sale enabled us to negotiate and secure the purchase of 44% of SFR held by Vodafone. It is a major turning point for Vivendi. It marks the completion of a long phase of restructuring and simplification. In less than ten years, Vivendi has experienced a profound transformation.

What is your strategy?

First, Vivendi has strengthened its core businesses into global and national leaders.Then, a conglomerate we have an industry group, managing all its assets and without minority participation. Finally, buying GVT in Brazil, we went looking for growth. Now we focus on organic growth through internal innovation, developing new products and services.

This transaction is financially attractive it?

It is a very good transaction for our shareholders and I am sure they appreciate it. With 100% of SFR, we have better access to its cash, especially a sharp increase in the outcome of Vivendi over 400 million euros in 2011, more than 600 million euros in 2012 and 2013, 350 million euros in 2014. This acquisition will bring us so 2 billion euros in extra profits in four years. Accordingly, we expect to grow our dividend in 2012.However, the dividend will increase more slowly than profit, as our distribution rate, currently 64%, is among the highest.

Are you going to buy out the minority of Canal + and Activision Blizzard?

For our subsidiary Activision Blizzard, world number 1 video games, trading in the United States gives visibility and shows the true value of the company fast cash. It also helps to develop the best talent pay systems that underpin the success of such businesses. Regarding Canal +, Lagardère our agreement with a scheme based on fairly simple: either we reach an agreement on the purchase price of the 20% stake in Canal + France, or it can make the market participation stock. The operation failed OTC, Lagardere launched and then stopped the IPO.We did not reopen negotiations with Lagardere.

Vivendi now appears as a group of telecom. Will you keep the contents?

I reject the relevance of the classification between telecom and media. For me, it is the organization of markets in the last century. Today, we live in a continuity in the value chain to the consumer digital content creation, platform services and applications, network infrastructure. Vivendi has a unique advantage is that it is present at all stages of this chain. Recently, the value focused on platforms such as Google, Facebook, iTunes. We, we, our own specialized platforms that fully meet consumers' expectations and World of Warcraft in-game video, Vevo in music, Canalsat in television.We continue to firmly establish and develop platforms to expand our services, not to be reduced to the role of "dumb pipes" as some would have us confine.

Do you create platforms that will be the future of Facebook or Twitter?

From experience, this is not in large groups to create social networks like Facebook, Twitter or their successors. Our presence in the platforms has a logic of knowledge and travel beyond the borders of our core businesses. Our mission is to cultivate more land to our jurisdiction, our businesses and our territories.

Do you intend to create more synergies between telecom and content?

The group did not need to be justified by synergies artificial. In contrast, we develop joint projects in our activities, piecemeal.For example, Universal Music and GVT created a digital music offering in Brazil, SFR sells offers Canal + in its 820 shops, Morocco Telecom and Canal + are working together on pay-TV platforms in Africa. I think when the synergies they can create additional services and therefore additional growth.

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Soon a smartphone signed Aston Martin

April 6, 2011 - 3:36 pm Comments Off

For now, his name is still barbaric. The CPT002, phone signed Aston Martin still makes quite an impression at the show's World Watch and Jewellery Show in Basel in March. Result of unprecedented collaboration between the luxury car manufacturer and designer of mobile high-end Canadian Mobiado, this smartphone, surprised by its design.

Still in prototype stage, the CPT002 indeed has the distinction of being entirely of glass with a transparent central portion, like a giant windshield! The surface of the touch screen is sapphire high strength, unbreakable and impossible to scratch, according to Mobiado. Edges, platinum and titanium, incorporate all electronic components, including battery, two microcameras and location for the SIM card. Aston Martin logo is placed at the back of the camera.

Direct connection to the Aston Martin

This phone will run Android.Like all other smartphones, it will give access to a large number of applications. According to its manufacturers it will be especially characteristic of facilitating travel for holders of Aston Martin. The mobile will thus open, close and start the vehicle paydayloans. The CPT002 will automatically connect to the GPS board and, through its geo-location software Foursquare, it will keep contacts informed Facebook and Twitter to the location of the driver.

The latter, which has installed cameras in the cabin of his vehicle, able to transmit real-time on social networks images captured by the phone. Finally, CPT002, previously installed in the pocket of the driver, will be equipped with an accelerometer that will, in case of accident, the airbags deploy with as much precision as possible.

Fans of Aston Martin, however, must still wait before buying this technological marvel. No date of production or marketing has yet been announced, although some mention the output of a first range in May. Regarding the price, no information either from the two manufacturers. But like the famous cars will need to hand the portfolio. The Mobiado luxury phones are sold on average from 1300 dollars per unit (approximately 915 euros).

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To live happy, live perched

March 30, 2011 - 3:20 pm Comments Off

Have a green thumb is not enough. Owning a terrace in town is for many urbanites, a dream has a price. According to a study by Ipsos for the National Union of Entrepreneurs of the landscape, three out of five would be willing to spend more to afford private green space. Remains to be seen how much. A well-enriched with a terrace implies a premium, hard to assess. Beautiful garden and terrace have to be considered as the second living area's largest home after the show, the price of an apartment is calculated based on its inner surface.

"The land can not be accounted for under the Carrez law, gets carried away Vitu Henry Benedict, the founder, twelve years ago, the first agency thematic, Terrace and Garden.Refer a weighting in the estimation of a property with a terrace is unfair … "Some agencies identify three areas: that of the apartment in" square ", that of the terrace, and a third," living ", taking into account some of the terrace. Difficult to navigate.

Exclusive possession

Only a comprehensive evaluation enables real estate professionals to refine their estimates based on a bunch of criteria. A terrace is primarily an outdoor area at above the apartment below. Then, all things considered: environment, vis-à-vis, exposure, accessibility (terrace is worth more than single storey pitched after a spiral staircase). The ratio of area outdoor / indoor is also important.Other criteria, its legal description: mostly as a party town but exclusive enjoyment.

"Everything depends on the use of the terrace," says Peter Bazaille me, notary. Must be able to set up a table and chairs … "How to give a price for this outdoor space? "On a terrace of 10 m2, 2 m2 can be added to calculate the price of an apartment of 70 m2. On a terrace of 20 m2 usable, to be weighed 8 m2 the price of an apartment that would make 100, "he says payday advance. At a recent expertise of an apartment of 80 m2 top floor, with views across Lyon and hanging garden of 50 m2, Pierre Bazaille suggested, however, add to half the size of this urban paradise prices sale."The greening of the place is also part of the estimate of a property, says Henry Benedict Vitu, but it is undeveloped, it is better to give carte blanche to the purchaser." The garden staging, home staging declined would therefore be handled with care.

"Home Green Home"

The owner of a heavenly "home green home" will indeed be delighted to arrange their favorite plants, recommended more often by a landscaper. And guided by the condominium rules that can sometimes prevent some species, such as invasive bamboos. Enhance this green bought at the price of gold is more or less, depending on materials. "The cost per square meter to 250 € in authentic Parisian cobblestones, but at 50 € pebble, note, for example, Pierre Alexandre Risser, renowned landscape.A tray can range from 15 €, plastic, 400 € clay. "In addition to traditional services, he suggested, 200 €, available for" makeovers "decking line. Tips to enlarge the existing smaller spaces. Christophe Courtois and overhung the terrace of a giant mirror, which reflected plants and clouds. From a lead roof bristling with chimneys, Hugh Peuvergne made him a Provencal garden with green oak, cypress, olive Bohemian and wisteria. At the heart of the tenth district, he raises at the end of a terrace of 8 m2, a forest cabin facade. And imagined, on top of a building of the sixteenth Haussmann, a roof terrace of 120 m², with cabin, swing, sandbox and generous dining area. Making sure to leave between the trees, a "track" for Children transferred to a tricycle.

Mobile tariffs will fall again

March 25, 2011 - 8:44 am Comments Off

Good news for consumers. The Regulatory Authority for Electronic Communications and Posts (ARCEP) announced Thursday a further decline in mobile termination rate from 33% in July to EUR 2 cents per minute on 1 July and 25% at 1 January 2012 to 1.5 cents, and 33% from 1 July 2012 to 1 penny. For the first time, Bouygues Telecom has aligned its competitors, while it had previously enjoyed more attractive tariffs to compensate for the fact that it came later that Orange and SFR on the market.

The steady decline for years that the wholesale rate that will bill them traders, had a direct impact on the price paid by the consumer. It is this drop in prices which has allowed carriers to launch regular called "Abundance" with unlimited calls to certain time slots or to certain numbers selected by the subscriber.It again this fall in wholesale prices which allowed for a few months some traders make free calls from a landline to a mobile. But Arcep, which aims to reduce the average bill in the French mobile phone since late 2008 reducing the cost of call termination charges that one operator to another communication channel to one of its customers, believes there is a "distinct evolutionary potential."

The reduction in call termination, which affect the price paid by users, is sought by consumer groups and supported by the European Commission. Telecom operators are generally opposed. The movement is widespread in Europe.This week, the UK telecoms regulator, Ofcom, announced a 80% decline in wholesale prices in Britain by 2015 to 0.69 pence per minute for four operators (O2, Everything Everywhere Vodafone and 3 UK).

NicOx Exchange welcomes agreement with Ferrer

March 19, 2011 - 11:56 am Comments Off

Naproxcinod is not dead. That's what investors seem to say this Friday, while the French biotechnology company NicOx, and Spain's Grupo Ferrer Announce an option to license the molecule NicOx 'lead. This product, a treatment against osteoarthritis of the knee and hip, was developed by NicOx for 15 years, and could be co-marketed by the Spanish in Germany and Spain. In these markets, biotech remains free to enter into agreements with other partners. Grupo Ferrer could also sell the product exclusively this time, Greece and Portugal.

This type of partnership between laboratories and biotech is quite common, while the latter, the new pool of pharmaceutical research and development, have not most of the time the business skills to sell their product.Still, the agreement between the two groups is a license option, the exercise remains subject to the approval of Naproxcinod potential on the European market. A record of the authorization (MA) was introduced in December 2009 with the European Medicines Agency (EMA), which should make its decision around mid-2011. "Ferrer could decide not to exercise the option even in cases where the Naproxcinod would be approved" also stipulates the joint communique of the two groups, illustrating the fragility of the partnership.

A "deal" of 7 million euros

Naproxcinod If approved, NicOx may receive 7 million euros from its partner, put in crossings of regulatory and commercial milestones, upon approval and based on sales in the form of royalties.However, a number that must be weighed against the EUR 150 million has spent to develop the biotech Nice product.

At the Paris Bourse, the title historically very volatile, advanced 9.5% at midday, to 2.40 euros, after having soared by 12% at the opening, investors betting on a leave of product on the Old Continent. A stock surge more powerful than the title, is now scrapped. Object of speculation, it was close again early in 2007 to 25 euros, the market relying on the ability of Naproxcinod to exceed one billion dollars in sales. Since then, the regulatory environment has tightened, and U.S. health authorities have refused registration in the U.S., where Naproxcinod had the biggest sales potential, causing the meltdown of the title.NicOx has challenged the decision, but shall probably conduct new clinical trials cost time and money if he wants to win at all costs the United States.

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Switzerland should not be "a haven" for illegal assets

March 12, 2011 - 9:24 am Comments Off

THE FIGARO. Switzerland-What is it to the forefront in the fight against illegal money dictators?

Micheline Calmy-Rey. – Switzerland has a fundamental interest that the illegal enrichment of politically exposed persons may not be invested in its financial sector. The Government believes that it is an important asset in the competition between financial markets and the commitment of financial intermediaries at this point is in their interest. Since the 1990s, Switzerland has established a legal arsenal against money laundering, terrorist financing and corruption. Our system rests on two pillars: preventive and active. The law requires financial institutions to report suspicious transactions and where appropriate to freeze the accounts.And we respond to any request for assistance, including when the state is failing with a new law that has just come into force in early February.

Have you used this law to the four recent cases of blockage?

We decided to freeze funds on the basis of the Federal Constitution, under the protection of the interests of the country for a period of three years. The aim is to prevent movement of capital and encourage requests for assistance. Since then, we received a request from Tunisia and Egypt personal loans for people with bad credit.

How much do you think these illegal assets?

Investigations are ongoing. We have lists of people for whom the assets were frozen. At this stage, the estimates refer to several tens of millions of francs.Switzerland now has a legislative deterrent …

But the returned funds are still limited …

This is not true. On 5 billion dollars returned last fifteen years in the world, Switzerland has made more than a third. In this we are truly pioneers. It is a very strong commitment of Switzerland, which seeks not to be a refuge for these assets and that these funds be returned to the people plundered. So is the reputation of our financial center. The procedures are complex and require strong political will of States. It is the experience of the long procedure for funds Duvalier in Haiti that has led us to legislate.

How to fight more effectively against these illegal funds?

We need better international coordination in the G20 and multilateral institutions.We launched several international initiatives on this subject. Switzerland played a particularly active role in implementing the Convention Merida by all signatory States.

Bercy suffered a virus attack, referred Elysee

March 7, 2011 - 11:20 pm Comments Off

Hackers are on all fronts. After the stock exchanges of New York and London in particular, hackers managed to penetrate the security of the French Ministry of Economy and Finance, revealed on Monday the website of Paris Match. Information confirmed by Budget Minister Baroin the microphone of Europe 1, and the entourage of the Minister of Economy Christine Lagarde told Reuters. According to a senior source at the Interior Ministry, the Elysee Palace and the Foreign Ministry had been "concerned but not affected," according to the National Security Agency's information systems. The interview on Europe 1 Baroin:

Bercy services have found this huge cyber attack, which aimed in particular documents relating to the G20 in the month of December."Immediately, specialty services have made arrangements to stop the attacks (…) This work was finally ended last weekend," said the minister's entourage. 10,000 computers have been disconnected during the weekend to stop the cyber attack.

"The first attack against the state of this magnitude"

According Pailloux Patrick, the executive director of the National Security Information Systems (ANSSI), "those who acted are professionals committed and organized. This is the first attack against the French state and of this magnitude at this scale, "he said in Paris Match.

In total, over 150 computers in the department have been infiltrated by the classical method of mail bomb. "The hackers tried to attack other ministries.There may be things that we have not seen, but to my knowledge, only Bercy has been affected, "explained Patrick Pailloux. Prescient, he lamented in an interview published Pcinpact late February, "a real trend to the increasing attacks, raising fears that the examples multiply instant credit reports."

No computers affected did not contain personal data of taxpayers, assured Baroin. "The attack targeted international issues rather than internal issues such as customs or tax authorities. Information has certainly been achieved, but what is important is that we know the origin and we define the modalities of this attack, "he judged.For now, Bercy filed a complaint against X with the Paris prosecutor's office and the DCRI, the French intelligence service, was seized.

Chinese Track

Even if the origin of the attack has not yet been established, a senior official recalls the site of the weekly Chinese track possible. "We found that a number of information were redirected to sites in China," Paris Match reported quoting a senior official, under cover of anonymity. "But that does not mean much," he tempered. For its part, Baroin merely to evoke "the tracks have not yet confirmed."

Coincidentally, early in the morning, a member of South Korea confirmed that Chinese hackers had accessed in June to military records confidential from South Korea, for the purchase of unmanned U.S. spy planes.According to another member of South Korea based on a government report, 8183 of 21,899 attempted attacks launched last year by hackers against the computer system of government of South Korea came from China.

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Sanofi is the remedy to afford Genzyme

February 16, 2011 - 3:40 pm Comments Off

It's official: Sanofi-Aventis buys U.S. biotech Genzyme. The laboratory has improved its last offer, which was to expire at midnight yesterday after being launched on October 4 and extended twice. The two parties reached an agreement and the offer will end on March 16 upgraded.

Sanofi-Aventis and will spend $ 20.1 billion in cash (or 14.9 billion euros) to acquire the worldwide leader of rare diseases. An amount equivalent to $ 74 per share, or 5 dollars more than originally proposed. Genzyme shareholders will also receive certificates of conditional value (CCV). The latter could result in additional payments if the biotech meets certain sales targets.Security holders may receive up to $ 14 and additional action if sales Lemtrada, a drug used against leukemia that Genzyme is trying to certify against multiple sclerosis, achieve the goals most optimistic.

In financial terms, Sanofi-Aventis believes that the transaction would increase earnings per share of 0.75 to 1 euro by 2013. The Group Chief Executive, Chris Viehbacher, adds that the merger "should be accretive in the first year, in other words that the approximation should have a positive impact on the Group's profitability in the first year while the transaction should be completed in the second quarter of 2011.

Genzyme will be a new growth driver

Sanofi-Aventis also focuses on the strategic dimension of this approximation.According to Chris Viehbacher, the operation "will create a significant new growth platform for Sanofi-Aventis by expanding our presence in biotechnology." The lab also intends "to Genzyme's global center of excellence for rare diseases."

In terms of Genzyme, the title earned 3.53% to 74.30 dollars at the close of Wall Street yesterday in preparation for this announcement and before publication of its annual results on Wednesday. In 2009, the biotech had achieved a turnover of 4.5 billion. Its activities are an important growth driver for Sanofi-Aventis, faces competition from generic drugs.

Furthermore, the reorganization of groups is running. Sanofi-Aventis has already indicated that the CEO of Genzyme step down but retain an advisory role on the transaction.Remains to be seen what any other restructuring induced by this marriage.

In early trading, Sanofi-Aventis under the lead of more than 2.4% and signs and the largest increase in the CAC 40. The benchmark index of the Paris Bourse rose by 0.4% to him.

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The Asian market, while green

February 14, 2011 - 10:00 am Comments Off

On this day of Valentine, happiness reigns in the Asian stock markets, which restarts on a good foot this new week, Tokyo head. Closed Friday due to holiday (Feast of the Foundation of the Nation "), while financial markets were relieved by the resignation of President Hosni Mubarak, the Tokyo Stock Exchange on Monday granted a remedial effect.

On Monday, the Nikkei 225 Index climbed 1.13% to 10,725.54 points. While the Japanese GDP will contract in the last quarter of 2010, but less than expected 0.3%. Over the whole of 2010, however, it grew by 3.9%, driven by sales to emerging countries, including China, and supported much of the year offset by government grants this fall.

Among the largest increases, Toyota climbed 2.51% at 3,870 yen or 2.68% at Honda 3635 yen.

Expected inflation in China down

Japan, already exceeded the first time in a quarter this summer, could not maintain its position as second largest economy on the whole of 2010. It is the China that now occupies, with GDP amounted to 5.8786 trillion dollars against 5.4742 trillion dollars in Japan. China could overtake the top spot in the U.S. in 2025.

Morale is looking good on the Chinese financial markets. The Hang Seng Index rose 1.07% to 23,073 points and the CSI index jumped 2.50% to 3198.93 points. On Monday, market rumors also point to a possible decline in inflation in China. The figure will be released tomorrow but the good news is already spreading, and despite a change in the method of calculating this statistic.

Finally, the trade surplus of the Middle Kingdom has fallen by over half in January to $ 6.45 billion, as imports surged 51% year on year, reported Monday's China Customs. The illustration of the willingness of Chinese leaders to reduce the dependence of the second world economy vis-à-vis exports and expand domestic demand and household consumption. And good news for Americans who accuse China of deliberately letting their yuan undervalued to promote exports.

Industrial & Commercial Bank of China rose 1.86% to 4370 yuan and Agricultural Bank of China is 1.91% to 2660 yuan.

Other places in the region are doing well, like oil

Other areas of the region also benefit from these stock performance.The Taiwan TAIEX Index advances 0.88% at 8685.47 points, the KRX 100 of Seoul wins 1.92% to 4275.46 points, the S & P / ASX 200 is 1.12% at 4935.80 points, the BSE Sensex 30 rose 1.52% to 17,997.90 points and the FTSE Straits Times Index was up 1.08% to 3110.59 points.

Crude prices were on the upside Monday in electronic trading in Asia, while the fear of other regimes in the Middle East like Egypt switch boosts prices, dealers said. In morning trading, a barrel of light sweet crude for March delivery gained 2 cents to $ 85.60. That of Brent North Sea with identical maturity took 67 cents to 101.61 dollars.