News – Business & Economi

Camaieu reported Monday a net profit increase of 4.8% in the first half of 2010 to 379,000,000 euros, through improving its margins helped offset sales penalized by a late start balances summer.

The French distributor of ready-to-wear said it had an operating profit up 12.4% over the first six months of the year, to 54.3 million euros.

Its sales have in turn increased 9% to 379.2 million euros.

In its statement, however, stressed that Camaïeu same perimeter and exchange rates, turnover fell 3.9%.

"Business was badly affected by the summer sales period was extended by one week in July rather than June, but was offset by improved margins on sales," said Camaieu .

The group also said to have opened 39 stores since the beginning of the year, bringing its fleet to 894 stores including 342 abroad.

At the Paris Bourse, the action Camaïeu closed Monday at 158.48 euros, up 5.65%.

Orpea announced Wednesday an increase of 16.3% of its turnover in the first half and confirmed its full-year 2012.

The manager of nursing homes and clinics completed a first half sales of 470 million euros, representing organic growth of 9.3%.

The group has enjoyed a growth of 17.2% in France, which represents the bulk of its sales.

"Orpea confirms with great serenity, its sales targets for the current year and for 2011 and 2012, respectively 960 million, 1.100 million and 1.225 million euros," says in a statement.

In the second quarter alone, sales rose 16.5%, giving an organic growth of 9.1%.

For the second half, the group, which had in March 28.073 beds, expects the opening of many schools.

The shares closed Tuesday at 31.2150 euros, giving a market capitalization of about $ 1.2 billion.

Philips has released better than expected results for the sixth consecutive quarter and raised its margin target, but not so far succeeded in convincing the market hoped for more.

Around 9:15 GMT, the Dutch electronics group fell by 2.91%, to 24.175 euros after plunging 4.3% in the first exchanges to form when the largest decline of the Amsterdam Stock Exchange.

Victor Bareno, an analyst at SNS Securities, said that the published results did not reflect "the significant increase that Philips had reported in previous quarters.

The group recorded a profit before interest, taxes, depreciation and amortization (EBITA) of 527 million euros in the second quarter, against 118 million euros last year and 486 million euros expected.

Its turnover stood at 6.2 billion euros and net profit to 262 million euros, higher than the 241 million euros expected.

Analysts had warned before the publication of Philips that investor expectations may be too large.

"The magnitude of the excess (of analysts' forecasts) compared to the previous five quarters is somewhat less strong," said Jan Hein de Vroe, an analyst at ING.

Eleven of 13 analysts surveyed by Thomson Reuters StarMine SmartEstimates lowered on average by 22.6% their earnings expectations over the past 30 days, while the stock has gained almost 7%.

The Dutch consumer electronics was confident of being able to exceed its margin target of 10% EBITA before exceptional items this year, while previously thought just to reach this goal.

The European leader in consumer electronics has reduced the cost during the crisis and the beginning of economic recovery, which helped to generate profits even in difficult times.

Philips has hoped to exceed its savings target on its structural costs in 2010 to 700 million euros.

The U.S. recorded a budget deficit of 68.42 billion dollars in June, the 21th in a row, the Treasury announced.

But the deficit is down by 27% compared to 94.33 billion dollars in June 2009.

Over three quarters of the fiscal year ended September 30, the deficit amounted to 1.004 billion dollars against 1.086 billion in the comparable period of fiscal year 2009.

The latest projections for the deficit in 2010 will be given by the White House July 23 normally. In February, it expected a deficit of 1.600 billion dollars against 1.400 billion in 2009.

France Telecom announced that it aims, through its new development plan over five years, 300 million customers by 2015 on all its markets, against 200 million today.

The telecoms group said in a statement it was also planning to hire 10,000 employees in France over the period 2010-2012.

The measures provided for in the new "social contract" of the group in France, intended to respond to the discomfort shown by a series of suicides of his employees, an envelope of 900 million euros over the same period, excluding the expected savings on the program part-time senior citizens and attrition.

"The group's ambition is to return as a spirit of conquest in international development, based on an acquisition policy unchanged, in which no operation 'transforming' is considered.

In emerging markets, it is particularly expected to double revenue within 5 years, has also informed the company.

France Telecom has also reaffirmed that "the conquest of networks" was "its core business."By 2015, it plans to invest two billion euros in the deployment of fiber optics in France, which ensure coverage of 40% of homes and being present in all parts of city by 2012, and all departments by 2015 (including three overseas departments).

The group reiterated its forecast of generation eight billion euros in organic cash flow per year in 2010 and 2011.

STMicroelectronics announced Wednesday that the federal district court in New York confirmed the arbitration in his favor in February 2009 against Credit Suisse for more than 431 million dollars (322 million) including interest.

The maker of semiconductors said this new court decision confirmed "the validity of an arbitration decision made unanimously in his favor by the FINRA (Financial Industry Regulatory Authority) in February 2009.

"The decision of the federal district court in New York rejected the motion of Credit Suisse to set aside the arbitration award, announced the Franco-Italian in a statement.

The U.S. court has "also given the right to request STMicroelectronics to obtain confirmation of the arbitration decision and order Credit Suisse to pay the company the balance of the amount due," says he.

Based on this decision, STMicro will receive about $ 354 million, which includes about 23 million dollars in interest to date, in addition to nearly 75 million received last December from the sale of a part of the obligations ARS (Auction Rate Securities).

Around 1135, under the STM, which was briefly stimulated by this information came around previous levels (2.09% to 7.05 euro).

STMicroelectronics has launched action against Credit Suisse for the reimbursement of the amount he deemed "unduly invested" in bonds risky ARS, contrary to his instructions.

The Franco-Italian chip, headquartered in Geneva, had given more than 450 million dollars to the Swiss institution with a mandate to invest the money in safe securities.

In February 2009, Credit Suisse had been sentenced by a New York court over $ 406 million dollars of electronic components for fraud.

According to the ruling last month, the money had been invested in the market for "subprime" and then lost.

This decision was highly anticipated because it could encourage other groups suffering from mismanagement to imitate STMicroelectronics.

Roche has also filed a complaint for the same reasons last October against Credit Suisse before a New York court.

The Swiss bank had invested 545 million dollars in securities to financial risk on behalf of pharmaceutical, despite her having asked to make investments safe.