News – Business & Economi

The Tokyo Stock Exchange finished Monday up%, taking in turn the path of recovery from the European and U.S. markets late last week.

The Nikkei gained 122.69 points to 9,086.41 and the Topix, broader took 8.93 points (1.16%) to 777.12.

GDP figures, published earlier today in Japan, reported a smaller than anticipated contraction in the economy, with a decline of 0.3% against -0.7% expected and 0.9% in quarter above.

As the Osaka Securities Exchange, the operator of the Osaka Securities Exchange, finished up 8.6% to 410,500 yen.The daily Yomiuri Shimbun reported on Saturday that the Tokyo Stock Exchange plans to become the purchaser via a takeover bid.

Toyota, Honda and Sony have outperformed the market by winning respectively 2.91%, 3.43% and 3.93%.

Until the EFSF takes over, the European Central Bank resumed its purchases of government bonds of countries in the Eurozone in trouble in the markets. It will also help the banks, said Thursday its president Jean-Claude Trichet. The European Central Bank resumed its operations in the bond market, said its president Thursday, August 4, French Jean-Claude Trichet. Jean-Claude Trichet, President of the ECB decided to keep its key rate at 1.25%.

The European Central Bank (ECB) decided to take firm action to try to extinguish the fires of the debt crisis in the euro zone, notably by taking over its operations in the bond market, announced Thursday, August 4 President Jean-Claude Trichet .The Governing Council of the ECB decided "overwhelmingly" to make new purchases, he said at a press conference in Frankfurt (west), head of the institution. Paris market sources have confirmed to AFP that the ECB intervened on Thursday afternoon. Previously, Mr. Trichet had said he had "never said" that the program had been "interrupted".

The ECB did not, however, used for more than four months. The extent of intervention will not be known until Monday at the earliest, the ECB communicates only once a week about it. It is even possible that the intervention of this Thursday is not yet included in the figures for Monday, because of delays in compensation. Mr.Trichet added, however, he wanted the European Financial Stability Fund (EFSF), set up to lend to troubled states of the euro zone, the relay fast as was decided at a summit in Brussels on 21 July. "What we expect is that this fund is to be effective so that we can not intervene," he said.

The ECB will also help banks by providing them with additional liquidity. An exceptional operation six months on loan to banks will be launched on August 9 with a maturity at March 11, 2012, in response to "renewed tensions in certain markets in the euro area," said Mr Trichet. The ECB had already conducted such operations in response to the global crisis, but these operations had ceased in late 2009.The benefit of unlimited credit to banks, fixed rate for periods up to three months, is itself extended by a quarter, until January 2012, said Trichet. "We think it's appropriate under current conditions, to restore the proper functioning of all markets," said the president of the ECB, which also decided to keep its key rate to 1.5%.

Scandinavian telecommunications group Tele2 has released Wednesday a net profit slightly above expectations for the second quarter.

The EBITDA (EBITDA) rose to 2.7 billion Swedish kronor (293 million euros) over the three months April, May and June

Consensus means established by Reuters was 2.6 billion crowns.

Tele2 has raised its targets for its activities in Russia, where he now has to increase its EBITDA margin to 38-40%, against a previous target of 36-39%.

Rival TeliaSonera, the Scandinavian telecommunications leader, has also published the results slightly above expectations and maintained its objectives.

The EBITDA before special items rose to 9.1 billion kronor (988 million), against an average wait of 9.0 billion and 9.2 billion the previous year.

TeliaSonera plans for this year increased its net sales by approximately 3% in local currencies, and also banking on a gross operating margin higher than in 2010.

Finance ministers of the euro area Saturday released a tranche of aid to Greece to 12 billion euros, thus avoiding in Athens to default on its debt in the coming weeks.

In a statement issued after a conference call of the Eurogroup, the ministers also said they continued their discussions on the establishment of a second aid plan for Greece, which could be a similar size to the forefront of 110 billion euros agreed in May 2010.

"The Ministers welcomed the progress made by the Greek authorities (…) In particular, the Ministers noted with satisfaction the adoption by the Greek parliament of key legislation relating to tax strategy and privatization, "it is written in the text.

"Therefore, the ministers endorsed the report of the Commission and the signing of the MoU," can we still read.

The payment of this tranche of aid, the IMF has yet to formally approve, was conditioned to a new austerity program of about 28 billion euros that the Greek Parliament adopted Thursday.

The sixth installment of aid, from 8 billion euros, must now be paid during September but the Europeans hope to tie up by July 11 the second aid plan, which they hope to involve banks, insurance companies and private investors.

"Consultations with the Greek creditors are underway to define the modalities of voluntary participation from the private sector in order to achieve a drastic reduction in annual funding requirements of Greece, while avoiding selective default" the statement said.

According to a parliamentary report, social security fraud would reach 20 billion euros in France. An argument for strengthening controls. But fraudsters are not always those that are believed … Parade 1st May 2004 in Paris.

The figures announced are exorbitant. Social fraud amount to 20 billion euros per year in France, according to estimates of a parliamentary report released Wednesday in the press. As a symbolic figure that is roughly the amount of the deficit in Social Security. With less than a year of elections where it will be fateful question of assistance and social protection, and while states have entered into an unprecedented austerity cures, the subject is extremely sensitive. Or depending on how the figures are presented, the resulting messages can be very different. Focus on what is never said about social security fraud …

The black represents the vast majority of social fraud

After 11 months of investigation, Dominique Tian, ​​UMP and rapporteur for the assessment mission statements for Social Security (MECSS), has just made its findings to the government. The report social security fraud would represent 20 billion euros in France, 44 times the amount of fraud being detected. Curious amalgam as social fraud consists of two very different realities: benefit fraud (sick leave benefits, family allowances, RSA etc. ..), and fraud in social security contributions (black labor, abuse of bonuses and benefits in kind etc.). Yet contrary to what one might think, it is social contribution evasion is the most important. Clearly, the fraud more businesses and individuals.Even the report admits benefit fraud would be a shortfall for the state of the order of 2 to 3 billion euros, while the black would lose each year between 8 and 15.8 billion euros.

The multiplication of controls would be more effective than Urssaf vital biometric card

Strangely, the measures recommended by the parliamentary report, and taken part in the government-are mainly individuals. Creating a global biometric card vital, cross-checking of information between governments, development-cons visits in case of sickness presenteeism or premium … tracks are numerous and ambitious. But few are those for unscrupulous employers.According to those who were able to get the report, increased controls Urssaf (bodies responsible for collecting the employee and employer contributions that finance Social Security) does not seem to be a priority …

Most of fraud in France is due to the so-called tax fraud

The French government has found 3.4 billion euros of tax evasion, and social customs in 2010. Of this amount, only 458 million euros are from social security fraud: 185 million euros in undeclared work and 266 million for fraud detected in Social Security benefits. For the rest, 2.4 billion euros of tax fraud were detected in 2010. Theoretically this does not mean that tax evasion is necessarily more important than the contribution evasion. Indeed, everything depends on the means of control implemented. However, the estimates leave little doubt.According to the parliamentary report, social security fraud would be about 20 billion euros, against 45 billion for tax fraud (according to the latest estimates from the National Audit Office).

The increase in detected fraud does not mean increase in fraud simply

In 2010 social detected fraud amounted to 458 million euros, a figure up 20% over last year. Does this mean that fraud has increased? Nothing proves it. The control means could be strengthened. Yet in both cases, the government that emerges as a winner is its means of control are more effective, or it is right to strengthen again and again. In reality, this rarely says the government is that it is unable to measure the exact extent of the phenomenon in France. By nature, fraud is impossible to count.Today, MEPs believe that social security fraud is at least 20 billion euros, but official reports rather suggest a $ 15 billion. The government itself would not confirm that Wednesday's announcement in the report. "The figures put forward by the Parliament is an addition on the basis of criteria that are not necessarily those of the government," said Baroin, stating that "fraud was important, too important." Of course, what else?

The International Monetary Fund has selected two candidates for the post of Director-General, those of Mexican Agustin Carstens and the French Christine Lagarde. The Israeli-American Stanley Fischer is rejected. To my left, Mexico's Agustin Carstens. To my right, the French Christine Lagarde. The match has already begun …

The International Monetary Fund announced Monday, June 13 in a statement it had selected two candidates for the post of Director-General, those of Mexican Agustin Carstens and the French Christine Lagarde, while the Israeli-American Stanley Fischer is rejected.

The IMF "will consider applications from Agustin Carstens and Christine Lagarde for the post of CEO," said the institution in a statement. Mexico had announced the candidature of its central bank governor on 22 May, five days after the resignation of the French Dominique Strauss-Kahn.The French Minister of Economy, whose name had been suggested earlier still, even though Strauss-Kahn was detained in a case of sexual crimes and had not left his post, was confirmed May 25 that it would be a candidate.

As Stanley Fischer, governor of the Bank of Israel, he announced his entry onto the scene in a statement Saturday, the day after the official close of nominations. The IMF argues that the nominations of Mr. Carstens and Lagarde were selected "in accordance with the decision adopted by its board of directors on May 20, which details the procedure for selecting its next director general, and in agreement Regulation with the IMF, which sets the age limit for lead at 65. Stanley Fischer is 67 years old.

The Board of Directors of the IMF, a body composed of representatives of 24 countries or country groups, has set a goal of appointing a new CEO by June 30.

BioAlliance wants to create a commercial structure for selling online in Europe's drugs against rare forms of cancer while continuing its strategy of licensing agreement for its specialty products.

Judith Greciet, the future CEO of the biotechnology company, plans to strengthen the next three to five years the portfolio of drugs called "orphan" against these rare forms of cancer, which currently has three clinical stage.

The most advanced, Livatag in liver cancer, should be commercialized around 2015 while the back of clonidine Lauriad (cancer of the head and neck) should be filed "in the coming weeks" with American and European agencies to obtain the orphan drug status.

"The idea is to build a structure to market these orphan drugs. We would like to enhance this portfolio with other candidates at a later stage of their development and this is where the external growth," she said biotechnology at a forum organized by Reuters.

The company is looking for products that it could complete the development and ensure the registration and commercialization.This quest for acquisition is "active" but not advanced enough to talk, says Judith Greciet.

FUNDING FOR STUDY

The goal is to build a portfolio that allows "to generate sufficient sales to recoup a commercial structure in Europe that has about forty people," she adds.

The income provided by a direct marketing would reduce dependence vis-à-vis the current partners of the company.

The first drug of BioAlliance, Loramyc (treatment of oral fungal infections in patients with cancer or AIDS) is marketed by Therabel in Europe, In Pharmaceuticals in the U.S. and Japanese Sosei in the archipelago.

In the group's portfolio also included Aciclovir Lauriad (Sitavir), for the treatment of herpes labialis, which obtained positive results of phase III. Judith Greciet said that the dossier will be tabled for approval in the third quarter 2011 in Europe and fourth in the United States.

Discussions are under way "to find a partner to commercialize this treatment whose potential is estimated by BioAlliance between 150 and 250 million euros.

"We have contacts with European companies, U.S..Everything is open, "she said, hoping to conclude with one of them" as quickly as possible. "

Judith Greciet, currently Director General, will replace Dominique Costantini, co-founder of BioAlliance, as Director General after the general meeting on June 29

2011, YEAR HINGE

Previously she worked at Wyeth Pharmaceuticals France (now Pfizer), Pharmacia and Zeneca in 2007 before joining the Laboratory Eisai France, where she was the president.

She believes that her "vision market very, very businesslike" and "path on all commercial business" will be beneficial to a company which today has "a very R & D profile.

In 2010, the company reported operating income of $ 2.6 million after a loss of 15.5 million, on revenue of $ 22.5 million against 7.5 million.

31 March 2011, its consolidated cash was $ 16.2 million, an amount that ensures the company a year of operation

Introduced in December 2005 to 13.30 euros, the share of the company was trading at € 6.36 (2.75%) Wednesday to 11.00, after the publication of this interview.

The title of the company, whose market capitalization is $ 86.4 million, grew by 15.6%, after rising 13.40% in 2010.

The floating capital of BioAlliance totals more than 60%, the rest being in the hands of venture capital companies and banks (AGF, ING Financial Mountain, CDC).

Boeing is facing financial difficulties as part of its program to build the 787 Dreamliner, said Thursday Chief Executive Jim McNerney.

He added that the production of this device would not be profitable for some time, without revealing a timetable.

The budget for this unit was in fact far exceeded and the delivery was delayed for about three years due to social conflicts and false notes in the global supply chain.

The company expects, however, deliver its first aircraft 787 in the third quarter. About 830 orders were received for this device.

The title of Boeing advanced 0.41% to 1630 GMT.

Schneider Electric announced Wednesday a takeover bid of $ 2 billion (1.4 billion euros) to Telvent, a specialist in systems for managing energy infrastructure, water and transport.

The French electrical equipment specialist said he would make a cash offer for the entire group shares at a price of $ 40 per share, representing a premium of 36% over the average share price on Telvent last three months.

Spanish Abengoa is committed to making its 40% interest in Telvent to supply.Shareholders representing 1.5% of the capital have also agreed to tender their shares.

In total, Schneider estimates the total potential impact of business synergies and cost synergies on its EBIT to 50 to 60 million euros by 2016, two thirds of which should be completed by 2014.

The acquisition should be accretive to earnings per share Schneider "from Year 1 (before integration costs) and meet its criteria of economic efficiency" in year 3.

Madrid-based Telvent provides software and solutions for real-time management.

The company reported 2010 sales of about 753 million euros and EBITDA (EBITDA) restated $ 115 million.Its main markets are Europe (42% of sales in 2010), North America (35%) and Latin America (16%).

"The strong geographical complementarity of the two companies will realize significant synergies on the markets regulated electric, oil and gas, water treatment and transportation," said Schneider in a statement.

The French group also believes it can "leverage the strong presence of Telvent in North America and Latin America, while Telvent will be able to put on many new markets, including Asia Pacific, Middle East, Russia, while strengthening its presence in Western Europe. "

The consumer association denounces the opacity of the costs, which would yield 172 million euros a year to banks UFC-Que Choisir claims including the passage of a so-called "semi-offline" to a system "online". A systematic check carried out by our neighbors.

The consumer association UFC-Que Choisir has criticized Tuesday at a press conference "opacity" of fees levied by banks for credit cards, as well as the inadequacy of the proposed products to actual customer needs.

"The French system suffers from archaic probably carefully maintained," said the association president, Alain Bazot.

The UFC-Que Choisir claims including the passage of a so-called "semi-offline" to a system "online" that is to say that when paying by card, the terminal automatically ensures that the money is available in the account, rather than occasionally running legacy of the 1970s when telecommunications were more expensive.

This audit systematically, our neighbors, according to the association would avoid repeated incidents with the banks. Especially since these incidents are punished, if discovered unauthorized or exceeded authorized overdraft. In addition the bank charges, commissions intervention reported 172 million euros per year for banks, according to estimates from the UFC, which promotes their removal.

Each committee is charged intervention average 8.50 euros to the customer, according to the association.This mechanism can cost several hundred dollars per year and weaken populations still struggling.

Oversized maps to real customer needs

For several committees of interventions, automated, can accumulate before the customer is alerted by his bank when he pays a maintenance fee account. "Where then is the duty of advising and monitoring of accounts?" Asked Mr. Bazot.

Moreover, "the banks are distributing cards oversized real needs of customers," who do on average 15.8% capacity of their card, deplores the association.

Many international cardholders could well be content with a national card. The UFC advocates the establishment of a "map Grow," which takes into account the type of card, debit-type (immediate or deferred) and ceilings of purchase in each situation.The association also calls for better customer information so it can act upstream of the incidents.