Posts Tagged ‘economy’

State speeds up the outsourcing to private

September 2, 2011 - 12:20 pm Comments Off

The Department of Defense is mobilizing to help reduce public spending. Authorized since 2004 to sign agreements of public-private partnership (PPP), the military have a growing use, like other state services.

The Air Force is leading. It announced yesterday the award of the contract to upgrade its computer networks and communications in a pool of companies led by Alcatel-Lucent. This contract runs on sixteen for a value of 350 million euros, the amount of royalties to be paid by the Air Force over the period. The state expects "tens of millions of euros in savings" through the pooling of engineering resources used on other projects as well as the speed of network deployment."Without the PPP, we would never have as quickly renovate and take advantage of new technologies," says Marc Leclere, director of central purchasing in the Directorate General for Armaments (DGA).

Financial arrangements entrusted to the Caisse des Depots

PPP is the second signed by the DGA and the first for the Air Force. The yard is huge. This is to equip a hundred bases, to wire several hundred buildings and installing 36,000 "access points" (for computer, telephone or system) to build high speed, with the latest fiber optic generation, the future "Internet protocol network service" of the Air Force (Air-RDIP). The construction should start in the coming days with commissioning of the first "positions" equipped end of 2012. The deployment should be completed in 2014. Alcatel-Lucent's partner INEO, an infrastructure specialist defense techniques.

As for the financial package, it is entrusted to the Caisse des depots associated with the Luxembourg investment funds SEIEF. The pool of partners committed to cede 10% of contracts outsourced to SMEs and to provide reclassifications to hundreds of military and civilian personnel involved. Alcatel-Lucent will assume management and maintenance of networks of Air Force with the requirement, half-life of RDIP-Air, an "update" so that it benefits from technological developments.

All of the information flow internal air bases including allowing the Air Force to conduct its missions – such as surveillance of airspace – will therefore be outsourced. The information will be protected and secured through five levels of privacy from the most basic to the "secret NATO" and "confidential defense".Alcatel-Lucent is also committed to service quality (availability and reliability) together with a penalty system if necessary. The operation could RDIP-Air School with the Navy and the Army in time, although for now the two armies have computer networks and communications referred to as "suitable."

Three sectors where the state says its operations in private

1. The defense pointed

The Army had the ball rolling in 2008 benefiting from the first PPP contract signed by the DGA. Specifically, with the company DCI has taken over the management of flight hours and the helicopter fleet of the School of Dax which trains pilots of the French armies.

The contract worth 400 million euros spread over twenty-two years. It must allow a saving of 600 million euros.But the PPP's most famous landmark is undoubtedly the contract of 3 free 3-in-1 credit report.5 billion euros, signed in early June, with Bouygues to build the "Pentagon in French" (pictured) at Balard. In 2014, 10,000 military and civilian staffs of the three armies and the DGA have to regroup. The PPP is not always the rule to outsource activities and services where military competence is not necessary. After the lawn or airport maintenance (based Cognac), the Ministry of Defence had retained in 2006 the American GE Fleet Services to manage its fleet, more than 20,000 commercial vehicles. With, in sight, a savings of 25% on an annual budget of 90 million.

2. Transportation and Maintenance

Bikers of the gendarmerie and the police accompanying the convoy will soon be a thing of the past exceptional.The state decided to entrust to private companies the management of transportation of wind turbines, ships and other bulky goods. Effective November 1, this measure is indicative of the willingness of departments to focus on their core missions. This is the philosophy of the modernization of the state launched since 2007. The functions called "media" such as purchasing, information technology, are among the first to be restructured. "We look first at the pool," says one at Bercy. A purchasing department of the State, which oversees the current purchases of government departments, has been created. The state also uses outsourcing. No more garages in the ministries: the management of their 72,000 vehicles will be performed by private companies at the end of the year. Caretaking, cleaning, heavy lifting, the reception is already provided by the private staff at Bercy.This is also true at the Musée du quai Branly. The Ministry of Foreign Affairs, he, a single private provider for the maintenance of its buildings in Paris. The government can also go further, by giving public-private partnership in the management and construction of prisons.

3. Public enterprises

Public companies, subject to increasing competition, should ensure the public service closer to the citizens without increasing their operating costs. It is the object, including the action plan for rural areas launched last year. The plan includes for example the Post Office launches 17,000 "contact points", mainly in shops run by individuals. In this way, 90% of French people will have access to a courier service within 5 kilometers.For their part, the old disused railway stations could be reused to pool several services in one place: social security office, ticket sales SNCF, EDF payment services. The state is full of ideas. Left to ogle the side of the private sector. The opening to competition of regional express trains (pictured) could well tip the railway in the private sector. It is expected that a "social framework harmonized" be defined so that they retain their current benefits. The Elysee confirmed in an engagement letter to the President of the SNCF. And Nathalie Kosciusko-Morizet, the responsible minister of the SNCF, was asked last June that the negotiations between social partners are committed as soon as possible. These issues should be addressed in the coming weeks as part of Focus on the rail.

There are so many add-on features to every insurance policy that add up to more expense for the consumer that every person who signs up for affordable car insurance needs to read thoroughly through the policy before agreeing to paying higher premiums.

Bad mood on the stock exchange in Asia

August 18, 2011 - 8:44 am Comments Off

Asian stock markets are in a bad mood on Thursday. Investors in the region are not reassured Wall Street that ended Wednesday in the balance after a volatile session. Fears of an economic slowdown in the world come to the fore.

The Tokyo Stock Exchange sets the tone with an opening in the red, down 0.42% for the Nikkei. The Japanese benchmark index widened its losses in the morning to show a decline of 1.24% to 8944 points at a time of closing. A new mixed indicators on the front disrupted operators: Japan reported in a July trade surplus, four months after the earthquake of March 11, but the surplus has shrunk by more than 90% because of lower exports and a surge in energy costs.The third largest economy last month generated a trading profit of 72.5 billion yen (650 million), confirming a recovery in economic activity, but its exports fell by 3.3%.

Tokyo is hit by a rise in the yen against the dollar, which traded below 77 yen again this morning values ​​exporters are under pressure, in the image of Mazda Motor (-5.65%), Fuji Heavy Industries (-5 , 16%), Nissan (-2.96%). The electronics sector is hit by the fall of Dell in the U.S. markets. Toshiba lost 4.45% and 2.34% Panasonic.

Hong Kong is the perfect balance while in Shanghai, the stock market unscrews from 0.34%. The Korean Kospi lost 2.95%, the S & P Australian loose 1.40% and the Indian Sensex was down 0.73%.

Oil off again down

Oil prices were down Thursday morning in electronic trading in Asia as investors await key U.S. economic indicators, the first consumer of black gold in the world. On the menu, including: the weekly jobless claims, the index of leading indicators and consumer prices.

In morning trading, a barrel of "light sweet crude" for September delivery lost 33 cents to 87.25 dollars. That of Brent North Sea crude for September delivery yielded 30 cents to 110.30 dollars.

High wages: tax withheld by employers

June 30, 2011 - 6:08 pm Comments Off

The French Association of Private Enterprises (Afep), which includes very large groups, will this evening at dinner Xavier Bertrand. Labour Minister and his guests have something to talk about everything found: the taxation of the remuneration of top managers.

Xavier Bertrand Tuesday reiterated the government's intention, not to establish a "maximum wage", but to increase the levies on companies' pay extravagant wages "- which in his view, means" several million euros. " The idea was initiated by a part of the majority in the debate on the alleviation of the ISF and the end of the tax shield. The Left had also seen a way to feel good after a "gift to the rich" … The measure should be passed in the fall.It could take two forms: a new tax or the inability to deduct the payments of the tax base of companies. "I favor the latter possibility," the minister said Tuesday.

"Branding a category»

Neither of the two formulas, in any case not suitable for Afep. Its chairman, Maurice Levy (Publicis Groupe), found the need to "be bad enough faith to consider that there is a problem together" on the compensation of top managers of French companies. Based on a study Aon Hewitt, he assured that they are on average paid less than their counterparts at the head of U.S. companies, Swiss, British, Spanish or German. "It's not healthy to attack a general executive compensation. This leads to stigmatize a category, "says Maurice Levy."I'm not at all support the idea that decides what should be the compensation of one or the other, in a total abstraction of what the company," he says. As to subject executive compensation to the general meeting of shareholders, rather than the board or a special committee, the president of the Afep sees "no need to submit to such AG decision over another ", saying that there is already" in the company a democracy that works very well. " Annual reports, accessible, detailed executive compensation.

"Personally," Maurice Levy, however, sees "no objection" that the persons whose total income is high "contribute more in difficult times," as an "element of solidarity."

See also:

"Chérèque does not believe in a maximum salary

Portugal's new prime minister wants to calm markets

June 6, 2011 - 8:32 am Comments Off

The Portuguese prime minister resigned, the socialist Jose Socrates, was not reappointed after the parliamentary elections held Sunday. The President of the Social Democratic Party, Pedro Passos Coelho is now leading the country, winning 105 seats of the 230 elected members of Parliament against a backdrop of record abstention to 41.2%. Shortly after the results, the chairman of the Social Democratic Party, Pedro Passos Coelho wanted to reassure its creditors. He said Sunday night that his country would not be "a burden" for them, promising to "do everything" to "honor the commitments" of the Portuguese State. "We will do our best to honor the agreement between the Portuguese State, the European Union (EU) and the International Monetary Fund (IMF), to regain market confidence," he added.And to avoid political instability, the leader said he would form "as soon as possible" a "majority government headed by the DSP (…) with the CDS-PP, the minority party the right.

Analysts estimate that the net result of the election will be welcomed by investors, who had deserted the Portuguese debt market in recent months. In addition, the government will now hands free to discuss with the EU and the IMF to implement the bailout of 78 billion negotiated by the government resigned in exchange for a program of fiscal discipline and reforms economic over three years.The future government, which could become operational in late June or early July, will help reduce the government deficit of 9.1% of GDP last year to 5.9% this year and drop to 3% by 2013 .

The election comes as Greece, she received a new support plan in exchange for increased rigor in Athens. This second program of aid could exceed 100 billion euros are to believe the German newspaper Der Spiegel on Monday, and would aim to keep the country who still could not borrow in the medium and long term contracts, on a drip until 'in 2014.

ALSO READ:

"Portugal is preparing for new sacrifices

"The Portuguese caught in the spiral of debt

"Portugal: EUR 12 billion to help banks

"The Greek system in Portugal

Public debt: France must convince in 2012 and beyond

June 1, 2011 - 8:32 am Comments Off

Good student, but must continue its efforts. It is, in short, the message delivered by the rating agency Fitch in France. She confirmed the debt rating "AAA", the best possible, with stable outlook. The French government has taken "a series of measures", says the agency, "which have improved the outlook for public finances." And mention the pension reform, or the draft law in fixing the principle of balance of public finances.

"However, these efforts must be extended to stabilize and then reduce the level of debt of France, which was the end of 2010 to 81.7% of gross domestic product (GDP)," warns Maria Malas-Mroueh, responsible scoring countries at Fitch. A number of risk still hovers in effect on the financial health of the state. Starting with 2012, a major election year.It should not, Fitch warns that the budget skids on the bottom of the presidential election. Especially since the forecast growth in the medium term Bercy (+2.5% per year) are considered "optimistic."

It should not, the agency said that the newly elected unleash the flange to the public finances in 2013. Instead, the agency left little choice to the government that emerges from the polls: "We expect the 2011 budget will meet its objectives (a deficit of 5.7%, Ed), but further efforts are needed to reduce the deficit to 3% of GDP in 2013, as agreed. " Debt levels will then stabilize at a level higher than before the crisis, reducing the flexibility to cope with future crises.

Note "under pressure"

In the medium term, Fitch added that "the memo from France could be under pressure (read: be revised downward, Ed) if the competitiveness of France was deteriorating again and if the position of France was weakening." The agency plans and the current account balance, ie the difference between money coming in and who leaves the territory, will remain negative in 2011 and 2012, approximately 2% of GDP. Fitch impels France to further reduce its "structural rigidities".

Despite these black spots, the Hexagon rest for now, said the agency, a "healthy and diversified economy," equipped "social institutions, civil and effective policies." He added: "financial flexibility reflect its status as a major issuer of sovereign benchmark in the eurozone. Clearly, the markets like, so far, take on France.

Occupation: reduce immigration, a red herring for economists

May 27, 2011 - 5:24 am Comments Off

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

ALSO READ:

"The needs of the French economy in terms of legal immigration

"In Germany, immigration to the rescue of Demography

The Cac 40 in heavy decline seen

May 25, 2011 - 1:32 pm Comments Off

On Wednesday morning, the Cac 40 should fall: the index futures yield 0.96% to 8.20am. Yesterday, the index stabilized at above 3900 points, after starting the week on a Loude loss. Concerns over debt crisis persists European: German morale, according to Gfk survey, should continue its degradation in June for the third straight month due to the debt crisis in the euro zone and the outbreak oil. The index shows a decrease to 5.5 against 5.7 in May In addition, the Netherlands and Germany are threatening to commit the privatization of the Greek economy to foreign experts, reveals leFinancial Times.A new threat which seeks to lobby the Greek government to take drastic cost-saving measures.

All eyes are turning to the Minister of Economy Christine Lagarde, the favorite to succeed DSK to head the International Monetary Fund, which should give a press conference "important" to the Department late Wednesday morning. Moreover, in France, we look particularly figures on registered job seekers and job advertisements collected by Pole in April. Baroin, Minister of Labour, has already warned that the unemployment rate would decline again in April for the fourth consecutive month.With regard to the Icelandic volcano, France should be minimally affected, which should reassure the airline industry.

Next major economic figures to be followed today: in France, we will look particularly figures on registered unemployed and job advertisements collected by Pole in April. In Germany, the GfK barometer of consumer sentiment will be released at 8:30. United States, is expected at 14:30 durable goods orders in April, at 16.30, the weekly inventory of crude oil.

Airbus confident for Le Bourget

Side companies, consumer complaints of gas and electricity rose 25% in 2010, about problems with their energy supplier.The mediator of Energy notes that complaints from customers at 43% of GDF Suez, to 38% of EDF, 12% of Direct Energy and 4% of customers Poweo payday advance.

Airbus and its parent EADS were optimistic Tuesday on future orders at the Paris Air Show in June in a market "active."

The French group Alstom and its Chinese joint venture Casco signed two contracts worth a total of 85 million euros for the supply of signaling systems in metros of Shanghai (east) and Kunming (south).

The partner of minority shareholders (Adam) who assigned Tuesday referred the saddle for Hermes "deprive" the essential rights of family voting at the next general meeting, has been confronted with an invalid procedure and case was adjourned to July 12.Or after the meeting to be held June 30

Casino on Tuesday denied having agreed to the opening of the opening of negotiations between the Brazilian distributor GPA, which holds 35%, and Carrefour Brazil.

PPR and Volcom announced Tuesday it had received notification of the end of the statutory review period on the bid of French on the American brand.

Rexel announced Tuesday it had won its bond issue of 500 million euros, whose order book has surpassed 1.8 billion euros.

Eurazeo Tuesday announced a capital increase, offering its shareholders one new share for 20 old shares held as of May 25, 2011.

The land Gecina in 2nd place behind France in Unibail-Rodamco will continue to sell its assets in Spain and in the logistics industry, said Tuesday its chief executive Christophe Clamageran.

BioMerieux announced Tuesday that the Health Authority (FDA) had recorded rapid testing and automated molecular diagnostic NucliSENS EasyQ MRSA screening for patients infected with Staphylococcus aureus resistant to methicillin.

Europacorp publish its annual turnover, while LCD (poultry) will announce its annual results after-hours trading.

Unlimited calls to less than 25 euros at Numericable

May 11, 2011 - 2:08 pm Comments Off

The veil is lifted. After intrigued the web for nearly a week, Numéricable book details his mysterious "mobile revolution". The cable operator announced with great fanfare the launch of a mobile telephony offer unlimited tariff of 24.90 euros per month for residential customers Numericable, and 49.90 for others.

Numéricable becomes a mobile virtual network operator, or MVNO. "We go on the mobile market," with "the best offer on the market in price and service content," said the secretary general of the group Numericable, Jerome Yomtov. The group offers its subscribers an offer of unlimited calls to landlines and mobiles in France, unlimited texting and unlimited internet access (3G up to 500 mega) for 24.90 euros per month.

"To get this offer of 24.90 euros, it is already subscribed Numericable, or you become one," insists Jerome Yomtov.For non-subscribers Numericable, the offer goes to 49.90 euros. Furthermore, the proposal does not include a phone. "Our job is to provide the best possible subscription, the phone is another job, a job distributor of electronics," said the secretary general.

The site has created a buzz larevolutiondumobile.com

With this offer comes directly Numericable hunt on the land of Free. The intriguing communication campaign that preceded this announcement is also no secret intentions Numericable. The website created for the occasion, but the "mobile revolution" refers directly to Free. Indeed, Free is the telephone operator at the initiative of triple play in France, and as such, boasts of having "revolutionized broadband in France."He even used the word to his sales pitch, naming "Revolution" the latest version of its box, launched in December.

Furthermore, Numericable used the red color of Free and organized a press conference at the Pershing Hall in Paris, where Free has the habit of organizing its own press conferences!

The communication operation worked: "larevolutiondumobile" has created a buzz on the web with over 50,000 messages on Twitter, affecting over 300,000 people. The Facebook page of the site has involved more than 2,600 fans in less than a week.

But if the teasing is successful, Numericable seems to have attracted the wrath of Free. The case could be settled in court.

ALSO READ:

"The mysterious" mobile revolution "infuriates Free

"Numericable promises to cut prices of mobile

Prudence expected at the Paris Bourse

May 4, 2011 - 1:40 pm Comments Off

Avoid taking unnecessary risks. This should be the credo of investors on Wednesday at the Paris Bourse. The CAC 40, which strengthened yesterday after eight consecutive sessions progresison, has no clear upward or from Wall Street or the Asian markets. In addition, the program of the day is very busy.

In addition to a series of important industry publication, several statistics are on the agenda. In France, there will be counts of the trade balance in March and the PMI services in April. This indicator is also expected across the eurozone, as retail sales in March. United States, employment is under the spotlight. So what awaited the traditional monthly report Friday, the markets will have an overview of the U.S. labor market from Wednesday with the Challenger study on employment, which will be followed by the ADP report.Next came the ISM services and oil stocks weekly.

Oil markets precisely, prices are still trending down in morning trading. A barrel of light sweet crude for June delivery lost 76 cents to 110.29 dollars while that of Brent North Sea also June delivery yielded 69 cents to 121.76 dollars. Brokers are questioning the declining demand in the United States. On the currency markets, the euro fell slightly to 1.4813 dollar.

BNP Paribas beats consensus

Orpea

The group announced Wednesday an increase of 26.7% of its sales in the first quarter of 2011 due to high occupancy of its homes and its clinics. It confirms its target of a 2011 turnover of at least 1.210 billion for the full year (964.2 million in 2010) and "maintaining profitability remains strong."

BNP Paribas

The group reported results well above expectations for the first quarter. Net income was up 14.6% to 2.6 billion euros over the first three months of the year, revenues rose 1.3% while provisions for bad debts fell by over 30% .

Alstom

The specialist in energy infrastructure and transport on Wednesday released results 2010-2011 in sharp decline, especially because of its activities in energy, and confirmed its targets for this fiscal year cours.Sur ended March 31, Alstom recorded a net profit of 462 million euros (-62%), operating income of 1.570 billion (-12%) and a turnover of 20.923 billion (+6%).

Su expected in publications Wednesday égalment are those of Scor, NicOx, Boursorama, CGG Veritas (first quarter results).M6, Iliad and Gecina unveil their turnover in the first quarter. After market, income Cegedim, and Mr Bricologe SeLoger.com are expected.

Vicat

The group announced on Tuesday a jump in sales in the first quarter thanks to a rebound in its business in Europe, helped by particularly mild weather conditions.

NRJ Group

The group announced Tuesday an increase in advertising revenues in France since the beginning of the second quarter, after posting a jump in sales over the first three months this year thanks to its television division.

Hermes Jean Paul Gaultier officially leaves

Valeo

The U.S. investment fund Pardus has criticized the leadership of Valeo's not doing more to address the valuation gap between the automotive supplier and its competitors.

Hermes

The broker said Tuesday the sale of its 45% stake in Jean Paul Gaultier perfume Catalan group Puig. The sale price of securities and loan repayments will generate a book profit of EUR 30 million in 2011, said the saddler.

Europacorp will present its strategic plan while Air Liquide holds its general meeting at 15 o'clock.

Mohamed Al Fayed wants to buy the studio by James Bond

April 23, 2011 - 3:36 am Comments Off

Mohamed Al Fayed at the cinema. The Egyptian billionaire has confirmed his interest in markets for the purchase of Pinewood Studios. "Mr. Al Fayed has noted recent speculation regarding a possible offer of his hand. It confirms the possibility of a cash offer at Pinewood, "says a note sent to the London Stock Exchange.

The announcement comes just two weeks after Pinwood has received a takeover offer by its shareholder Peel Holdings, which owns 29.8% of capital. The latter offers 190 pence per share representing a total supply of 87.8 million pounds (about 99.5 million euros). For now, Mohamed Al Fayed said that "it is not certain that an offer is made" but the markets themselves, are safe. Result: Pinewood share price jumped to 10.4% in session Thursday at 223 pence, giving studios a market capitalization of 100 million pounds.

For Peel, the difficulties accrue while the other shareholder of Pinewood, Crystal Amber Fund (28% stake), considers that the initial offer of 190 pence does not reflect the true value of the company.

The home of James Bond

This battle looming market reflects the growing interest of investors in these studios, the largest in Europe, located in Buckinghamshire (county of south-east England). For nearly 75 years, Pinewood has seen the greatest movie stars. He is best known for being the location of the main James Bond like From Russia with Love, On Her Majesty's Secret Service, Moonraker and more recently Quantum of Solace.A studio is even dedicated to James Bond (the "007 course).

Pinwood was also chosen for the filming of blockbusters like the latest Harry Potter and Pirates of the Caribbean, but also The Bourne Ultimatum, Charlie and the Chocolate Factory, Mission Impossible or Lara Croft guaranteed payday loans. It's also where I will turn the next Clash of the Titans.

Very popular, Pinewood has reported a pretax profit of 5.8 million pounds last year, up 31%, and expects an increase in its turnover increase this year. The group also plans a massive investment of £ 20 million to expand the premises in Buckinghamshire.

Bet small productions

Pinewood has also ride the wave of success of the film The speech of a king who has won several Oscars with an initial budget of shooting only 9 million pounds.The low-budget films will be a priority for the studios that will focus on set at 2 million pounds.

The group also put on the hot market of TV and cinema in Latin America. A franchise agreement has been signed to that effect in the Dominican Republic.

Expanding empire

Mohamed Al Fayed, Pinewood get their hands on him to reconnect with his roots. The businessman had indeed already bought a studio in Egypt and participated in the production of the film four times Oscar-winning Chariots of Fire in 1981. The executive producer of this film was when her late son, Dodi al Fayed.

If he makes a bid and wins, especially Mohamed Al Fayed will relaunch its empire, amputated Harod stores, sold to a Qatari fund last year to 1.5 billion pounds.Always very diversified, its acquisitions include the Ritz Hotel in Paris, a hundred apartments in Hyde Park in England, the attraction Falls of Shin in Scotland and the London club football for Fulham.