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The Irish banking crisis broke on Thursday, a new step, long awaited by Brussels, and markets. The Irish Central Bank revealed the results of resistance tests carried out over several weeks out of four banks: Allied Irish Bank (AIB), Bank of Ireland (BoI), Irish Life & Permanent and EBS. Needs additional capital to face a new crisis, amounted to 24 billion euros, or 15% of GDP in the island! – A sum higher than experts expected.

On Thursday, shares AIB, BoI and IL & P, have been suspended from the Dublin Stock Exchange and London, on rumors of nationalization of industry.The bancassurer Irish Life is the latest Irish lending agency not to be nationalized, while the share of the State Bank of Ireland is 36%.

Immediately known the results of resistance testing, Finance Minister Michael Noonan announced in Parliament a tough restructuring of the banking sector, which will be reduced to two entities, and will pass under state care. The minister also urged the private sector to share the burden of this rescue banking, that is to say to accept capital losses on debts "senior". Irish bank plan must now be approved by the European Union.

This assumption of private sector participation thrilled markets since the arrival of the new center-left government, less agreeable with foreign investors.The debt holders are covered by Dublin big German banks, the UK, but also some Belgian or French establishments.

The government wants to spare the taxpayer primarily Irish, who has already paid 45.8 billion euros for its banks in 2010, the price of a deficit of 32% of GDP. If we add 24 billion to pay the bill for the banking crisis in Ireland stands at 70 billion euros, or 43% of Irish GDP …

Support Berlin

In his tussle with bankers in Dublin on Thursday received the support of Germany noted, highly exposed to debt in Ireland. "We must stop signing blank checks to the banks!" Weber said Thursday, the outgoing president of the Bundesbank.While the Irish banking bill will ultimately influence all European taxpayers, including German, Axel Weber insists that private creditors bear some responsibility.

Chancellor Angela Merkel is on the same wavelength. "It would be terrible for the acceptance of the social market economy, if banks should not count on automatic support from governments, simply because of their systemic importance," she said, echoing Weber.

To recapitalize its banks, Ireland will inevitably make use of its European neighbors. The bailout of 85 billion euros to Ireland, the island which contributes up to 17.5 billion, includes 35 billion euros for the banks, of which 10 billion is available immediately.The remaining 25 billion euros are stuck in a reserve fund, which was not supposed to be liquidated this year. Ireland, however, should pay its share for the recapitalization: 10 billion euros. Europe will provide 15 billion euros through a bond issue launched by the European financial stabilization.

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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).

Upstream, Steve Rosenblum said that the policy of the company "has always been to work in harmony with vendors trying to promote all of their product lines. Our suppliers are our partners. Today, worldwide distribution and electronics or computer vendors can make or break retailers.

A new application

Recently, Pixmania has launched a new shopping application common online with partner Leetchi.com in order to offer gifts through Facebook. The principle is to create a pool with several, each of which may pay the sum of its choice, the beneficiary then purchases on Pixmania with the money received. "When they communicate with each other, with friends or family, our customers are mainly on social networks such as Facebook.It was obvious to us to make the link between the application of social network and e-commerce site that wants easy access to and usable by the greatest number, "said Steve Rosenblum.

Anxious to maintain a good reputation on the Web, Pixmania has a pole of a dozen people who monitor the forums and answer questions from consumers, including when they encounter a problem. With this dedicated team, Pixmania has been awarded three months ago E-Marketing Award for Best Community Strategy. Marketing side, a team of a hundred people keeps track of customer information, "to better understand their needs and provide them with appropriate solutions, not too often, but certainly relevant and timely .

Reversal. After steady growth for at least fifteen years, and accérélée the early 2000s to offset the effects of 35 hours, the number of public hospitals have stabilized in 2008 (-0.06%). And for the first time they fell in 2009 -9800 full-time equivalent positions, according to official statistics and final unveiled this morning by The Daily of the physician.

This figure represents less than 1.3% of total hospital staff, which is almost 753,000 jobs. The administrative staff, technical workers and retreat, and those of carers are slightly higher (stability for nurses in particular).These efforts have helped reduce the deficit in hospitals increased from 686 to 512 million euros from 2007, according to figures announced by the then health minister, Roselyne Bachelot.

Each institution is legally independent and therefore free to manage its workforce, the rule of non-replacement of staff on two retiring – which has prevailed for the five-year state officials – does not apply to hospital . In this case, this reduction amounts to almost 10,000 jobs do not replace one out of four. Over five years, the numbers remain on the upside. And all these data are not doctors, accounted for separately: their number rose 3.2% year on year to $ 64,500.

Click on the thumbnail to enlarge the graphic.

"It went faster than I imagined, and it was more complicated than expected," says Stéphane Courbit. In three years, the former head of production company Endemol France, famous for having developed the reality show in France, has built a group active in television, online gaming and energy. A mini-empire of 4,500 employees in 25 countries, whose companies have made last year a total of over 1, 2 billion euros in turnover and net profit accumulated close to 150 million euros.

At age 45, urged the contractor, a graduate of the ISG, which started as an assistant of Christophe Dechavanne before getting a company with host Arthur is ready to move up a gear.To achieve this it plans to open the capital of his personal holding company LOV (reference to his children, Lilac, Vanilla and Oscar) to investors. "We want to go from 150 to 200,000,000 euros in 24 months," says Stephane Le Figaro Courbit. We could bring partners, family investors, because we have plans for large acquisitions in television and gambling on the Internet. LOV could double or triple in size over the next three years. "To begin, Stephane Courbit is ready to sell 15-20% stake in LOV, but wished to maintain control. "Within 3-4 years, we will ask the Stock Exchange," he says.

The increased funding is unquestionably one of his concerns. Until then, to maximize its investment capacity, LOV was always associated with the level of its major subsidiaries.The company holds Stéphane Courbit and a third of Banijay, and the Society of sea bathing has half the activity online games. By opening the capital of LOV, with 300 million fully invested, he will restore the resources to support its subsidiaries, that follows closely. Day by day.

"With the exception of Direct Energy, we are operational in the societies in which we invest. LOV is an industrial group focused on the content and the Internet, "he says. Each business is run by officials in close contact with Stéphane Courbit himself. "I would like to distance, I withdraw from daily life, but it's hard, it's against nature," says the entrepreneur, who feels closer industrialists and financiers high quality business cards. "I worked 15 years in television.I invest in what I understand or control. "Following this logic, Direct Energy is a special case. "Direct Energy is the only investment that is not in the heart of our business, my only opportunistic investment. I went with Jacques Veyrat and the Louis-Dreyfus. I would never have gone alone, "he acknowledges.

In fact, LOV was developed mainly in three areas: gambling on the Internet, television and the Internet. "In total, we invested $ 300 million since end 2007: 100 million in Direct Energy, 100 in TV, 50 in 50 games and the Internet."

Towards a rapprochement with Poweo

For the future, Stephane Courbit intends to develop without LOV away from his heart craft. In gambling online BetClick has become the leader in France in paris sport with 45% market share.The company claims a place in the Top 3 in Europe, but it still has weaknesses. "We could make acquisitions in Spain and Germany," says Stéphane Courbit. In France, the company loses money after investing heavily in marketing last year to take advantage of market liberalization. "We invested 40 million euros in six months. This year, we focus our communication efforts on football by sponsoring Marseille and Lyon.

In audiovisual production, Stephane Courbit has united around its Banijay company, Groupe Arnault, the Agnelli family and Agostini. In three years he has rebuilt a group of 240 million euros, which generates two thirds of the group's net profit.Banijay includes ten production companies in France, Scandinavia, Spain, Germany and the United States.

The idea is to develop original formats in one country for use in all others. "We need to catch the first two sector Endemol and Fremantle and for that we climb up to one billion euros of turnover. The first step is to locate in Britain, an important market that we're missing. We are talking with a British company. "

In energy, the profitable development of Direct Energy is largely related to changes in the price of electricity sold by EDF operators. A reconciliation Poweo would make sense. Stéphane Courbit ranks rather an observer who does not opt out if an opportunity presents itself.

In late May, six of the sixteen members of the College of AMF should be renewed. The opportunity for the president's stock market watchdog, Jean-Pierre Jouyet, placing governments to their responsibilities in terms of parity. "We must be consistent with what we proposed or imposed by law," said Jean-Pierre Jouyet in Le Figaro.

In 2016, boards of directors of large companies will have 40% women. College of the MFA, they are now … two. "It would take at least five" in the eyes of its chairman, who called for those, starting with the Minister of Economy, who will appoint the six future members.Jean-Pierre Jouyet same ideas profiles that could be the case, they run businesses (Dominique Heriard-Dubreuil at Remy Cointreau or Stéphane Pallez, France Telecom) manage funds (Isabelle Bouillot) are derived from academia (Marie-Anne-Frisian Roche).

Chairman of the AMF also cites the example of Michele Monavon which unites the employee shareholders.

This time for sure. Or almost. March 2, Apple expected to unveil the highly anticipated iPad 2. It will suffice that the company sends an invitation to American journalists to revive speculation. A photo reveals a piece of screen that lets assume that this is the iPad 2. Additional evidence, the meeting will be held at the same place where the first tablet had been made, the Yerba Buena Center in San Francisco. Reactions to the announcement may seem disproportionate. This overlooks the fact that after upset the market for music (iPod and iTunes), telephony (iPhone), Apple is addressing the issue and the PC world with its iPad.

When is the next revolution? Some are betting on a sensational debut in television. Meanwhile, the assumptions about race 2 continues the iPad.It would be finer, with new features, including a second camera to facilitate video conferencing.

The moment is perfectly chosen by Apple to silence rumors about his ability to launch a new version. Although no official date had been given, the rumor predicted a delay in this second version! They waited for the new iPad in January to launch three months later. But the health of Steve Jobs delayed the process. That gap could make him lose several million in sales. According to analysts, a period of three months in the marketing of the iPad 2 would pass the annual sales from 30 to 23 million.

Investor confidence

For Apple, the risk is even greater than the competition gets tougher. There are now over a hundred bars of all sizes.Admittedly, not all are marketed in the U.S. or Europe, but the profusion of offers incentives for the response. If Apple wants to remain the benchmark in the market shelves, it needs to change his. Success of the iPad 2 also proves that even if Steve Jobs is on sick leave, product launches continue. Certainly, many shareholders have asked last week presenting a succession plan, a proposal rejected in general meeting. But overall, investors maintained their confidence in society. The way Apple rose nearly 8% since the beginning of the year, the market outperformance.

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The redemption price would be fixed in April, and the report advocating the "right price competitive" known until mid-March. According to the Journal de Dimanche (JDD), the findings of this report, ordered the former director general of INSEE Paul Champsaur, "are ready and recommend the price of 39 euros per megawatt hour (MWh).

The new law on the organization of the electricity market (prefecture), which shall enter into force on 1 July, stipulates that EDF, the incumbent electricity, must yield to its competitors – GDF Suez Direct Energy and other Poweo – up to 25% of the electricity produced in nuclear power plants. The selling price must be set by ministerial order. This new mechanism is expected to boost competition in an industry dominated by ultra-EDF.More than three years after market opening to competition, the French are indeed remained mostly faithful to the regulated tariffs.

Reflect production costs

EDF had voted for a rate set at 42 euros per MWh, Henri Proglio, CEO of the group, believing that selling below this limit would mean the "looting". Alternative suppliers, including GDF Suez, hoping for a price closer to 35 euros per MWh.

To fix the wholesale rate at 39 euros, experts have focused on the impact that the price on your household. The increase for the public, would be at least 35% in five years, with the wholesale price of 42 euros asked by EDF. It would be 30% at 39 euros, a level considered more reasonable by the Champsaur report, according to the JDD, or 5% per annum by 2015.Difficile to go below, however, according to the report."If the government does not overly increase the rates for individuals, it should not set a price too high for manufacturers," said a relative of Paul Champsaur quoted by JDD. Nome law specifies that the award should reflect "economic conditions of production" of nuclear power plants and it will be "consistent" with a specific tariff to business, Tartam (transitory regulated tariff for market adjustment) .

Friday, Energy Minister Eric Besson had told AFP that "nothing was adjudicated" and that dialogue "continue."He said that this price would be fixed "by a decree signed in April, after an arbitration of the President of the Republic and the Prime Minister."

(With AFP)

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Capgemini signs a wonderful year 2010. Group counseling and services has indeed recorded at the end of fiscal 2010 net income up in 2010 to 280 million euros, rising significantly by 57% compared to 2009, accompanied by a turnover up 3.9% to 8.697 billion euros a year.

Results higher than what analysts had expected.Ditto for the group's operating margin stood at 587 million euros, or 6.8% of turnover.

"Operating income, it is increasing (+47%) compared to what it was at the end of last year thanks to a sharp reduction in charges, mostly to restructuring charges reduced to 71 million euros in 2010, exactly one third of what they were last year, "says Capgemini in its press release of annual results this Thursday morning pre-market.

Note that the Board of Directors decided to propose to the next ordinary general meeting to be held May 26, payment of a dividend of one euro per share, "against 0.8 euros last year."

In exchange, the action Capgemini closed Wednesday up 2.22% to 39.85 euros in a market capitalization of 6.2 billion euros.Since the beginning of the year, it posted an increase of 14.1% while the index of pan-European technology has earned in the same time a little over 10%.

Growth 'modest'

In the services sector, yesterday, Wednesday, Atos Origin has also published results are healthy in 2010 and is confident for 2011. However, "except the excellent performance of Accenture, which seems very specific, other publications are consistent with our scenario of a weak recovery at Capgemini", noted analysts at Natixis in late January.

IBM has not experienced any acceleration in the fourth quarter, TCS grew by 13% in continental Europe, India for a modest performance guaranteed personal loan approval."Capgemini is mainly dependent on the European market and its high exposure in the United Kingdom and the Netherlands (40% of sales), very dependent on the public sector is a drag on the group," they say.

However, over the year 2010, the UK / Ireland region has seen its business fall by 1.4%, but increase by 7.8% over the last quarter. What is a good sign.But the Benelux countries, who "has seen the past two years a particularly acute crisis, remains the region with the largest annual decrease (-6.7%).

A year 2011 dealt calmly

During the telephone condérence that followed the publication Thursday morning, Paul Hermelin, CEO Capgemini says there is a `recovery in the sector even if it is progressive" and announces it will "double in the medium term from its Sales in emerging markets to 10%. "

Thus, for the year 2011, "the group plans to grow its revenue by between 9 and 10% at current rates and perimeter, and an increase in its operating margin between 0.5 and 1 percentage point compared to 2010 .

"Given the investments that will need to commit to support this growth and improving the business climate more or less rapid depending on the country and trades, it is expected that growth in turnover and this improvement in operating margin of the group will be gradual throughout the year, "says the company.

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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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