World and National News

Essilor International shows a rebound in sales of 15.8% in the first half to 1,926 billion euros. The world of ophthalmic lenses has seen its sales boosted by several acquisitions such as U.S. and Signet FGXI Armolite. In all, Essilor has acquired or increased its stake in thirteen companies in the first half, representing an additional turnover of approximately 80 million euros.

Excluding currency and acquisitions, growth in turnover is 5.9%, "in line with its annual target," the company said in a statement.

Sales of optical equipment and lenses, more than 92% of group turnover, rose by 10.7% as reported. North America, Essilor which makes 43.5% of its activity, grew by 8.1% as reported.The rise of Europe, which represents 39.6% of sales, rose slightly less (6.4%). Latin America, however, mark a sharp increase of 47.1% to 88.6 million euros, barely 5% of sales.

Net income for Essilor is down slightly from 1.3% to 197.5 million euros. The group is penalized by the provision of 41.5 million euros to pay the fine imposed by the German competition authority (Bundeskartellamt) for formation of cartels.Adjusted for this provision, net income reached 238.8 million euros, an increase of 19.3%.

Essilor confirms its annual targets

"In the second half of 2010, in a context of renewed activity still fragile, Essilor will pursue the strict implementation of its strategy of growth based on new products, geographical expansion, acquisitions and organic conquer the environment range, "the group said.

This announcement had already acquired majority stakes in two U.S. since the end of the first semester in the laboratory and in the Gulf States Pasch. Essilor has also sold its stake in early August Sperian Protection which represented 15% of capital.This sale will record a gain of 27 million euros in its accounts in the second half.

The manufacturer of ophthalmic lenses confirms target for 2010 sales up 5% to 7%, excluding currency and strategic acquisitions, and margin contribution stable excluding acquisitions and strategic change IFRS. In the first half of 2010, the margin of Essilor has eroded slightly over the same period in 2009, yielding 0.1 percentage points to 18%.

At the Paris Bourse, the title Essilor yields 2.74% to 46.88 euros at 10:00. It displays the largest drop and the CAC 40, itself in decline 0.62%.

Optimism in the sky world. A few days before the opening of the Farnborough Airshow in the United Kingdom, Boeing set the tone. The American manufacturer has announced on Thursday it had revised upwards its forecast of orders for new aircraft by 2029.

In a report released in London, Boeing presented its annual outlook 2010. "The global market is in much better shape than last year, but challenges remain," said Randy Tinseth, vice president for marketing at Boeing Commercial Airplanes, the branch's civil aviation manufacturer.Capitalizing on global growth than expected, Boeing expects that "the air traffic registered an increase this year, both for passengers and freight," said Randy Tinseth.

In the long term, Boeing said a total of 30.900 anticipate orders to the horizon 2029, a figure up 6.5% compared to the forecast of 29,000 made last year. These new orders represent a total 3.6 trillion dollars (2.788 trillion euros). For Boeing, the demand will be sustained in particular by increasing the number of LCCs and Acceleration replacement by airlines for their aircraft models écononomes fuel. And of course, by the "economic recovery".

A recovery that will boost air traffic.According to Boeing, the world air traffic will increase by 5.3% per year by 2029, with the number of passengers carried increased 4.2% per year over this period.

The most prominent aisle

To meet this demand, Boeing is betting on the single-aisle aircraft segment, which will benefit from the appetite of companies to lower costs. This type of aircraft has become the face of long-haul for a decade, says the U.S. group's report. "The airlines will choose to offer more flights using aircraft with more efficient (in terms of fuel consumption, Ed), rather than managing fleets of aircraft much larger," says Boeing. Consequently, the market for large aircraft (type 747 and beyond, namely the Airbus A380's competitor) will account for only 720 units, totaling 220 billion dollars.

Finally, over the next two decades, Boeing sees the Asia-Pacific than in North America as the first global airline market. According to the manufacturer's calculations, the Asia-Pacific will account for 43% of global air traffic by 2029.

To further extend the Dreamliner?

In this horizon rather than a black cloud emerged, however: the delivery of first Boeing Dreamliner could be postponed until early next year while the U.S. aircraft maker said earlier this month that it would intervene in the fourth quarter 2010. If ever the first delivery was a new delayed, the delay from the original schedule – May 2008 – would exceed two and a half years.

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D-Day for Marcello Convite the boss of the small company that wants tricolor Carmat conquer the world with its first total artificial heart biocompatible. This Tuesday, in fact, that the start-up takes its first steps on the Paris Stock Exchange, having packed the heart of investors. In difficult market conditions, the SME accompanied by Truffle Capital, its largest shareholder (30%) and EADS, has done better than expected, raising 14.5 million euros at a price of 18.50 euros per share enhancing from the outset the company 75 million. A great appreciation for its Director General who has taken brilliantly in the year, new to him, the financial road show.

This Italian 57 years, trained in computer technology and speaks five languages, has not missed any arguments to "sell" the young company and its innovative and promising.His prosthesis, implantable total artificial heart developed by Professor Carpentier of the Georges Pompidou Hospital, from 2013 should help save tens of thousands of cardiac patients. A challenge that fascinates Marcello Convite former IBM and Fiat, paid for thirty years in the life sciences. He held until last September to senior posts in the American International Edwards Lifesciences, who had just bought to Professor Carpentier's revolutionary concept of cardiac valves. For Dr. Philippe Pouletty, CEO of Truffle Capital, with the artificial heart (which will remain French …), Carmat has "all the ingredients to become a global technology company beautiful. "A great adventure of entrepreneurs, leading the veteran of the biotechnology industry has also brought public in April and companies Neovacs Deinove.

Carmat is, in fact, primarily a story of men.An R & D secrets first, initiated in EADS by Jean-Luc Lagardere and Professor Carpentier and developed for 15 years by a team of engineers led by former "Mr. International" of EADS, Jean-Claude Cadudal, president of Carmat.

Beside him, the engineer, former head of EADS big projects, and "very good teacher," Patrick Coulombier, also played a key role. It is today, with Marcello Convite DGA society. It was created in 2008 under the leadership of Philippe Pouletty because, after the release of préprototype, "he had to go to the next level." By convincing the engineers of the European giant switch in the start-up and live the adventure.

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"This is not because there is the economic crisis that the climate crisis is over!" While in Paris on Thursday to meet with parliamentarians and French employers, the European Commissioner for Climate, Connie Hedegaard, continues to carry the torch the fight against greenhouse gas emissions. Proof that it should not lower our guard, even though the cold winter in Europe was an illusion, the past twelve months have been, globally, the warmest ever recorded.

Asked about the carbon tax at the borders of the European Union (EU) dear to Nicolas Sarkozy, Denmark's answer, in accordance with the wishes of the French president, the European Commission has discussed this mechanism among the various instruments to reduce CO2 emissions in a communication dated May 26"But I prefer to leave it in the toolbox."

A trade war

As the British Government and several of his fellow commissioners, Connie Hedegaard think raising the price of imported goods like Chinese steel example, according to their carbon footprint is "extremely difficult to implement." Most importantly, "Is that such a measure would help the Chinese to be constructive?" Asks she, fearing a trade war if the environmental barrier was erected on the borders of the EU. One of the arguments of French supporters of a "border adjustment mechanism is that it may help to avoid relocation of jobs to countries where less stringent rules on carbon can produce cheaper.Better to engage in innovation and green growth to create jobs in Europe, contends Connie Hedegaard, as echoing the credo of the Obama Administration.

Former Danish Minister of Environment, which, as such, has chaired the conference in Copenhagen, believes that for the modest agreement in December 2009 ripped credible, rich countries should honor their commitment to pay this year 10 billion dollars promised to the most vulnerable. The finance ministers of Twenty-Seven detailed in May and pay their share of 2.4 billion. These additional funds, a majority of donations and a minority of loans will be paid directly by the Member States. To date, recipient countries have not seen the first euros of new funds.

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The government will reduce funding by more than half of the missions of the State, Ecology and Agriculture, and Labour and Employment from 2012, while the Justice and Research are spared the game, as the budget document released Tuesday.

According to the report submitted to the National Assembly, which specifies allocations for different missions, "except the Department of Justice and the Ministry of Higher Education and Research, all departments will be downsized on the years 2011-2013.

Research and Education, Justice up

The Mission Research and Higher Education remains the first priority of government, is it indicated. His credits will increase from 23.63 billion euros in 2010 to 23,830,000,000 in 2011, 24.04 billion in 2012 and 24.23 billion in 2013.In addition, the department "will be, exceptionally, no job cuts.

The Department of Justice will be the only "benefit from new jobs net (400 in 2011), mainly for the prison administration," the document said. The credits of the mission will spend 5.65 billion euros in 2010 to 5.80 in 2011, 5.96 in 2012 and 5.90 in 2013.

Labour and Employment, Agriculture, Ecology down

Side decreases, the mission and Career credits will rise slightly next year, from 11.25 to 11370000000 before "fall sharply" with "better jobs" expected, 9, 10 billion in 2013.

The Ministry of Agriculture will also see its funding decline from 4.46 billion euros in 2010 to 4,210,000,000 in 2013.In 2011, 650 jobs will be eliminated on this ministry.

The credits of the mission Ecology will also decline sharply in 2011, from 9.24 billion in 2010 to 8,820,000,000 in 2011.

The money for the ODA will, themselves, stabilized in value over the period.

As announced 16,500 job cuts are planned in 2011 in Education, under the rule of non-replacement of retiring staff of two.The credits of School will initially increase slightly, from 44.14 billion in 2010 to 44,450,000,000 in 2011, then fall to 44.05 billion in 2013 payday loan lenders.

In the three years, a rule enacted by President Nicolas Sarkozy will "not replace nearly 100,000 retirement, or 31,400 full time equivalent (FTE) and 2011, 32,800 FTEs in 2012 and 33,000 FTEs in 2013.

The downsizing effort is "higher than average" to ministries of Budget, Foreign Affairs, Agriculture, Defense, Ecology, Health and Sports.

"Operators of the state will also be involved in this process (…) with the exception of operators attached to the Ministry of Higher Education and Research," the document said.

The government amounted to "nearly 3 billion euros' savings" related to non-replacement of retiring in two "over three years. But 50% of these savings will be a "return to civil servants".

The burden of debt on the increase

The interest burden of government debt is expected to grow strongly in coming years, as spending on employee retirement, still shows the budget document.

The interest burden of debt, that is to say, the annual payment of maturities of the loans, should "increase in value by over 9% per year on average, five times more than inflation," says document.

It should increase from EUR 42.45 billion in 2010 to 55,190,000,000 in 2013.This increase is explained by "the rising stock of debt since 2009, due to the crisis which has seen deficits explode, and" the expected increase in interest rates. "

The pension expenditure officials should, too, to increase from 35.06 billion in 2010 to 39,580,000,000 in 2013, "despite the beneficial impact of pension reform," the statement said. "The retirement of civil servants are currently a" very high on the period, the government said, citing also "revaluations of pensions to inflation."

The government pledged to freeze "value" the expenditure, excluding debt and pensions between 2011 and 2013.

The trading hours of that Friday marks a break after it is true, trying for a week to investors. Since Monday, the market has lost more than 5%. Of course, markets will pay close attention to monthly statistics showing employment in the United States which will be unveiled before the opening of Wall Street. But they seem they are already included in the indices, because Wednesday the investigation uncovered ADP than-expected figures for private use.

Thursday came another statistical support with the recent claims of unemployment rose 13,000 to $ 472,000 in the figures as at June 26, while economists on average expected a decline to 452,000 over the figure of 457,000 originally announced. This does not suggest the best for this afternoon.

The CAC 40 displayed an increase of 0.75% within minutes of opening to 3364 points and advanced more moderately by 0.29% to 3349.73 points shortly after noon.

Note that the meeting in Paris will be exceptionally today around 41 values because of two new entities of Accor.

The trend has been better after the session on Wall Street to limit losses. At the close, the Dow Jones lost 0.42% to 9733 points, the Nasdaq was down 0.37% at 2101 points and the S & P 500 drops 0.32% to 1027 points. This has encouraged the European markets to dare a technical rebound this morning. This morning in Asia, also dominated the calm markets.

On the face values, we will therefore:

Bank stocks. The banks borrowed yesterday less cash than expected to the ECB, were reassuring.But, according to the Financial Times, a score of banks would be forced to raise capital after testing resistance. Societe Generale 33.585 to yield 0.84%, BNP Paribas 1.72% to 44.24%, Credit Agricole stabilizes.

Edenred (new name of Accor Services) made its market debut. The award technical reference of the title was set at 11.40 euros, a figure which is located in the lower range of 11-14 euro advanced Tuesday by the chairman of Accor at its general assembly and lower than its During Thursday on the gray market, which was around 12 euros depending on traders. In the first exchanges, the title earned more than 24% to 12.24 euros.

Accor is mishandled and lost 5.18% to 23.420 euros. According to Les Echos, the group is also about to give the caterer Rail Wagons-Lits to French Newrest.Moreover, according to the newspaper, the proposed IPO of Lucien Barriere, another subsidiary of Accor, will be presented to analysts on July 7.

GDF Suez (EUR 22.99 0.86%). Standard & Poor's said on Thursday lowered the outlook notes A/A1 group's "positive" to "stable", judging unlikely that the group achieves and maintains financial circumstances justifying an increase in his notes.

BNP Paribas and BPCE, the parent company of Natixis announced an alliance in consumer credit, which will require the development of a common platform operational from 1 January 2013. The BNP Paribas gained 2.09%. Natixis yield 0.41%.

Schneider (0.59% to 81.37 euros) said Thursday it was in talks with the city of Ashgabat, Turkmenistan, on the renovation of the city's power grid.The Tribune reported Friday that the group has secured this contract, the newspaper figure at 1.3 billion dollars (1 billion euros).

LVMH (+0.34% at 85.49 euros) is about to acquire a Brazilian company, the leader of the country of the online sales of perfumes and cosmetics.

Beneteau lowered from 17% to 15% of its target revenue growth for fiscal year 2009-2010 within the scope of delays in deliveries of vessels. The builder of sailboats and motorboats, however, confirmed its target of operating profit to 37.5 million for its fiscal year ending in late August. The title resists: he won 3.32% to 11.06 euros.

The 2009 winter was mild for the group Club Mediterranee. During this semester, the first of its 2009-2010 fiscal year, the leisure group has indeed returned to profitability, generating a net profit of 3 million euros. Last year at the same time, he posted a loss of 22 million euros. The group's turnover shrank by 5.5% during the winter of 2010 compared to the same tourist season in 2009. This decline reflects a market "sluggish" and the impact of the ash cloud reached by the volcanic eruption in Iceland, which paralyzed air traffic in April, the company said in a statement released Friday.This damage has impacted the group's net profit amounting to 5.6 million euros, 3.7 million euros on operating income of the business village, which stood at 28 million euros over the six low fee pay day loans.

Club Med said it will accelerate its development in China this year, reaching 30,000 customers in the country and become "the leader are high quality vacation all inclusive. Chinese customers has grown 40% in winter 2010 compared to the same period in 2009.

The Summer is also favorable for the group. Welcomed the results of winter, Henri Giscard d'Estaing, the CEO of Club Mediterranee, underlines that "the level of bookings was already showing the number of customers higher than last summer due to late booking.Bookings have increased 18% and over the past eight weeks. However, they remain "in line" with the level of bookings at the same time last year.

The surprises have always been the marketing muscle of Apple. But the presentation of the iPhone could turn to four non-event. This Monday, June 7, at the Worldwide Developers Conference in San Francisco, Steve Jobs is expected to formally present the new version of its iPhone. A difficult task since the surprise had been nipped in the bud by Gizmodo, a blog specializing in the area. The latter was obtained for a fee, a version of the last device that was lost in a bar, then had completely husked, literally as figuratively. Result: Apple expected to miss elements of surprise in his presentation.

At this conference, Steve Jobs should focus on news and updates available for this new iPhone.But then again, few surprises in the program: the company had already submitted the software that will be applied to the iPhone 4 as she presented the platform iad, allowing Apple to develop the market for advertising applications.

According to analysts, a real surprise could come from the announcement of an extension of the exclusive sales of the iPhone to Verizon. So far, only AT & T can sell the unit on the U.S. market. But again, the mere announcement of talks with Verizon would not be a revelation: more rumors, sometimes belied by the operator to move the subject on the canvas for several weeks.

The product's most profitable brand

Although there is hardly any surprise about the iPhone 4, Apple knows that this presentation could take effect with the customer.The iPhone remains an undeniable success for the brand and the popularity continues unabated since its launch in 2007. In the first quarter, Apple said it had passed 8.7 million iPhones, representing a sales growth of 131% over a year.

The turnover of the phone is 5.4 billion dollars against 3.76 billion to $ 1.3 billion for Mac and iPod. The widening gap so quickly that observers now expects a gross margin of between 50% and 60% for iPhone cons 20-30% for Mac. In other words, the iPhone product line will be more profitable for Apple.

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Typically, large food stores do not take any major trade initiative earlier this year. They await the spring or early summer to launch new concepts. But this year, Carrefour pulled the end of February by launching "Free Promo" offers a permanent store to buy three products of the same radius (for each operation a new radius) and be reimbursed the least expensive of the three.

Sign of the times, promotion breaks the hut. The "promotional pressure, which measures consumer exposure prospectuses and offers on products, has never been higher. In ten years, the number of items sold in promotion almost doubled and the number of coupons has increased tenfold.On Google, "coupons" is one of the most frequent requests …

Steadily increasing the share of the turnover of retailers sold discounted up to 18%, according to IRI, a specialist market research. "The proof that the French are susceptible, and that the signs are not about to stop," says Yves Marin, founder of consulting firm Dashkoma. "The removal of a wave of prospectus may bring down the sales of a hypermarket 30%!" Says Alain Guinberteau, president of A3 Distrib, a company specializing in freelance prospectus.

The signs have no choice. Carrefour is participating with "Promo free" an escalation that led to the formation of a real bubble promotion.Under the Galland law, between 1997 and 2008, all food retailers have stepped up promotions to circumvent the prohibition of resale at a loss and restore purchasing power to clients. Result: a flood of offers increasingly sophisticated to become incomprehensible. "The bric-a-brac has created among consumers questioning the right price," said Elizabeth Exertier, Associate Director of Channel Marketing, another company of freelance.

"Offers free" cons "Guarantee promo"

For Carrefour, "Promo free" must mark a break and serve as a new "marker" for its price image, abused for several years on line pay day loans.Deployed on a large scale in its hypermarkets, but also in its supermarkets Carrefour Market stores and Carrefour and Carrefour City Contact, "Promo free" is also presented as a response to Leclerc, leading hypermarkets in France. The company is currently testing Brittany in 127 of its stores a new concept, "Guaranteed Coupon" which sifts through all the prospectuses of competitors in the areas concerned. Leclerc guarantees its customers a refund of the price differences between its products in-stock items and those coupon competitors. He will decide by summer whether it applies in all its stores.

"It's very clever, because Leclerc accredits the idea that promotional offers competing offer no interest," said Elizabeth Exertier. The system would also make savings on the prospectus. But Carrefour's response is also clever.The "Coupon free" outside the control that seeks to impose Leclerc "Warranty promo" because products sold on promotion are known at the time of checkout.

Vis-?-vis customers, distributors seek mainly to get easier. It is the stated objective of all signs and one of the reasons that also explain the rise of virtual prizes in recent years. Simply purchase several products to qualify for automatic discounts at the checkout.

The law of modernization of the economy has changed that. The arrival in 2000 of Long ticket, whose principle is to credit cards, customer loyalty when they checkout, is a page that retailers want to turn. The idea now is to ensure low prices permanent.Long hopes that his "promo Guarantee" has the same effect as "Ticket" it will have a concrete price image.

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Calculations of future property owners will soon have to change. According to Les Echos, the government would work aggressively to replace the tax credit on mortgage interest to, in effect since summer 2007. This tax advantage should be replaced next year by using direct state inflate the supposed personal contribution of households seeking homeownership.

According to the rapporteur of the budget Gilles Carrez UMP and MP Michel Piron, the current tax credit has its limits. This is a tax credit of 40% interest the first year and 20% four years following the acquisition of a principal residence. All in the limit of 7,500 euros for couples, plus 500 euros for each additional dependent.But this aid, which is paid only one year of purchase, would not have to drive up the share of first-time buyers in the total number of buyers at 70%, as desired by the government.

Worse for him, this assistance will be transformed into a niche tax for 376,000 households have benefited. The bill for the Government in 2009 amounted to 1.05 billion euros.

A reform modeled on the loan at zero

To fight against this windfall and increase the number of low income among the owners, the government should establish a direct support that would be paid at time of purchase. Directly integrated with the personal contribution, the latter would get loans more easily.

As the zero-interest loan, this assistance is not calculated as a percentage of interest paid but would be flat.It depends therefore tested household and would be combined with a zero interest loan. Small households are thus favored. The amount of aid will also be calculated according to the area of purchase.

The banks are not forgotten by this new device because they receive a tax credit on the companies. The state will also reimburse the loan interest on a shorter period than households.

The government hopes the bill contain the device to its projected level in 2010, 1.5 billion euros. The measure should be passed through the Finance Act 2011 and implemented starting next year.

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