Archive for the ‘world’ Category

Ten years after bubble burst, the net economic triumph

March 11, 2010 - 11:06 am Comments Off

Marc Simoncini has enriched the right time. He managed to sell its Internet portal iFrance Vivendi before the Internet bubble broke. "I sold it very cheap, 182 million, but nearly half in Vivendi shares, says he. And the course is spent in a few weeks from 100 to 8 euros. I lost enough money to tell me that I could not stop working. So I founded Meetic. "

Ten years ago, world capitalism was attending the breakup of one of the most famous bubbles. That of. Com (dot com in English), these values of the "net economy" that even baptized "new economy". At the time, only 350 million people are connected to the Internet in the world against more than a billion and a half now. But in early 2000, analysts and fund venture capital are already there. They overestimate the ability of start-ups to become profitable and give them carte blanche.Just then an idea, a business plan presented on Powerpoint to convince venture capitalists to invest tens of millions even before he won any customer.

No matter, since a tsunami will occur: the bank branches will close in favor of online banking, consumers will no longer do their shopping in supermarkets and choose the sites of e-commerce …

At that time, Philip Collombel is responsible for web development at Carrefour. "A few months before the bubble burst, the group's leaders had planned to invest hundreds of millions of euros in this area," he recalls. Finally, all the ambitious ideas have been put in closets. "We threw the baby out with the bathwater," Regrets Philippe Collombel.Ten years and two owners later, Carrefour has announced its intention to buy a player in online commerce to catch up on the subject. Ooshop.com The site, launched at the time – now renamed Crossroads – sells little more than a large supermarket.

But the food is one of the few sectors where e-commerce has not taken a prominent place. The use of the Internet has indeed developed a massive scale, even if it took longer than expected.With their billions of dollars in profitable sales, Amazon, Yahoo, eBay are still there, joined by thousands of businesses, net of pure players or converted traditional players.

SNCF leading e-commerce

Who would have thought that the station would become the leading French online business? "Many of the ideas of 1999-2000, when they arrived too early, have proven today in the field of e-commerce, social networks, games, e-book, said Jean-Bernard Schmidt, the capital firm Sofinnova Venture Partners. The innovations were ready, the public has taken longer than expected to join. "

A French start-up, Cytale, then had the idea of the eBook, then disappeared after failing to make the model profitable. Posthumous revenge, last Christmas, is that Amazon said it had sold more than Kindle, its electronic reader that works paper.The email service Caramail, founded by the French pasionaria Web, Orianne Garcia and his associates, had established itself as number one in France, before disappearing off the face of Hotmail, now in the fold Microsoft. Meanwhile, Garcia and his partner Alexander Ross became pioneers in the distribution of contact lenses on the Internet.

The online business has not emptied the stores as had been predicted a decade ago, but he does not know the crisis, due to annual growth of 25% for two years in France. One in three adults regularly purchases on the Internet. Against all odds, clothing and footwear join books, high-tech and travel head of the most purchased. The Swedish site Boo.com, one of the most resounding failures of the bubble, was not entirely wrong. Today, sales, and other privees.com Showroomprive.com Rise in fashion Dégriffée.Zebank sank body and soul but Boursorama Bank, now a subsidiary of Societe Generale, prosperous and all banks now offer a one stop online.

Other pre-bubble phenomenon: lastminute.com has seen its share soar 40% on the day of its IPO in spring 2000 before we lose it again quickly and half to be sold to the U.S. in 2005 Saber.

This crisis has served as a "rite of passage, forming a large number of leaders," said Philippe Collombel who now heads the fund Partech International Partners. For Marc Simoncini, now head of his own investment fund, Jains Capital, the bursting of the bubble has had one virtue: "enhance the experience of failure."

Total: 500,000 tonnes of oil trapped in Dunkirk

March 6, 2010 - 5:31 pm Comments Off

Employees of the Total refinery at Dunkirk, under threat of closure, blocked Friday tanks containing 500,000 tons of crude oil, by removing the pumping mechanisms, three days of a meeting to decide their future.

"We want to refine. We do not want this (oil) crude go away from here, "said Philippe Wullens, Steward South (majority site), evoking a" war chest ". He said Total has made a profit of 200 million euros from the time of purchase of this oil in the fall and today, due to the increase in prices. The employees also say they have learned that the management of Total planned to ensure that oil can be loaded on ships to other refineries."This oil should not leave the tank so that things do not stop," he said, estimating that 400 million euros worth of stock.

Several dozen employees from the site of Flanders, in the case since September, traveled Friday to dawn on the storage area of crude oil located at Gravelines, and disassembled electronic components essential to the operation of pumps used to extract the contents of the tanks. Some components will be given to state services, another in the region and a third in the urban community of Dunkirk, knowing that all equipment is necessary to restart the pumps, said Marcel Croquefer, secretary of the cluster Chemistry CGT Dunkirk cheap payday advance .

A radicalization of the movement evoked

Employees are then symbolically held a lock port of Dunkirk.They wanted to question management port, 18% of turnover depends on the refinery. "This refinery can and must restart now", even if a mutation of the site must be decided for the future, said Croquefer, suggesting a possible "radicalization" of the movement.

If farmers spread manure or milk to express their discontent, "in the refinery there are petroleum products," he warned.

Proposals for the future of the Flanders refinery, which employs 380 employees and 400 people from sub-contractors, should be announced Monday at a central works council (CEC). Employees are expected to travel to many in La Défense on Monday to be heard.

The threat of closure had resulted in late February several days of strikes in all French refineries group.Unions had set an end after the guarantees provided by Total on the future of refining activity in France. Since then, employees of Dunkirk only continue their strike began January 12.

The CAC 40 limit its losses

February 2, 2010 - 2:04 pm Comments Off

The Paris Bourse opened the week and the month of February, down from 0.48% to 3721.66 points in the wake of the decline on Wall Street Friday. The same applies to the Frankfurt Stock Exchange decline of 0.38% at 5587.5 points, and that of London which yields 0.38% to 5168.64 points. After a week punctuated by a sharp increase from 1.37% to 3.739.46 points, investors should be preparing to take their profits.

Markets were awaiting major publications in the United States. Around 12 o'clock, the President of the United States, Barack Obama has proposed a 2011 budget of 3.834 billion dollars. The White House said Monday that the draft budget for next fiscal year (October 2010-September 2011) showed a deficit of 1.267 billion dollars, down 19% due to higher expected revenue.In the afternoon, indicators follow overseas spending and household income for the month of January (1430), construction costs for the month of December (16 hours), the ISM index of manufacturing activity January (16 hours) payday loan . On Friday, the U.S. GDP figures for the fourth quarter, came out up 5.7%.

The results season of American companies continues its course on Monday with those of Exxon Mobil, the world's oil.

In France, prices for production in French industry decreased by 2.9% in 2009, a decline limited to 1.3% for foreign markets, according to figures released Monday by the INSEE. In all markets (French and exports), the producer prices are down 2.4% a year, says the National Institute of Statistics.In December 2008, prices remained stable (0%) in the industry for the French market.

Sales of new vehicles surged 14% in January by the Committee of French manufacturers (CCFA).

Side currencies and commodities, oil off again on the rise (+0.22% to 73.21 dollars), while the euro strengthens against the dollar (+0.25% to 1.3899 dollars).

The detailed values to follow

Who Licenses do not recruit abroad

January 12, 2010 - 7:06 pm Comments Off

The prefect of Vienna, in his words, "stuck a little face." Reason for dissatisfaction: Sweden's Autoliv, owner of the manufacturer Autoliv flying car-Isodelta, announced last week in the press came from 22 of his Tunisian employees, to compensate for a lack of manpower on the site Chira-en-Montreuil. Flat: This reorganization comes barely a year after that 80 employees of the company have been acknowledged. "Autoliv has chosen to relocate to Tunisia. Very good. But they take and they do not come here of Tunisian Workers' prevents the secretary general of the prefecture of Vienne, Jean-Philippe Setbon.

Production of flying is in fact shared between the site of Chiré en Montreuil (680 employees), and El Nadhour Tunisia (700 employees).The leather trim has been relocated there fifteen years since the two hours required for each transaction made it difficult profitable in France. But shortly before Christmas, the Tunisian factory hand in flames. It seems logical now to work exceptionally Chiré en Montreuil some of these employees unoccupied. It is effective without the vigilance of the prefect. "When he read it in the press, he asked me to call the consulate of France in Tunisia to halt issuance of visas," says Jean-Philippe Setbon. 80 interim have been recruited to ensure the controls.

Wall Street opens at equilibrium

December 31, 2009 - 7:23 pm Comments Off

For the last meeting of the year, the U.S. markets move down slightly: the Dow Jones lost 0.07% at the opening, and the Nasdaq Composite yield 0.08%. The volume should be particularly weak in a few hours and Eve in the absence of significant news on the business side. Entries weekly unemployment have been lower than expected, which could support the trend.

The rise of the euro is lower because of "good" figures of unemployment in the United States. The euro bought 1.4372 dollars against 1.4386 dollars in early morning.

Good indicators Americans support the dollar because they "reinforce expectations of an early withdrawal of measures to support the economy in place by the U.S. Federal Reserve (Fed)," explained brokers ETX Capital.

On the currency front, the dollar is declining due to adjustment of positions at year end.Futures on the Nasdaq 100 and S & P 500 are respectively increased by 0.09% to 1878.50 points from 0.14% to 1123.70 points.

As for values to follow, we will keep an eye on Ford. Geely has announced that it was supported by the Chinese government to acquire Volvo, the Swedish subsidiary of Ford Motor. "Without government support, the transaction could not be done," said Gui Chengyu, CEO of Geely Auto, quoted by Reuters. "The ultimate goal is to list Volvo Award," added the officer.The first private Chinese automaker also said it expected robust growth of automobile sector in China next year, with support from Beijing.

AIG has announced the departure of its Legal Director Anastasia Kelly, who was to receive millions of dollars in compensation to départ.Le U.S. government imposed in October cuts in executive pay of the seven companies have been bailed out by the more 'State, including AIG.

The Paris Bourse sets a new annual record

December 28, 2009 - 10:07 pm Comments Off

The CAC 40 continues its progress towards the 4000 points. The latter closed up 0.88% to 3947 points in a market where trading volume remained low (1.170 million). Optimism is the same in most international markets. The Frankfurt Stock Exchange broke the 6,000 points for the first time since September 2008. In Asia, the indices were equally oriented, taking advantage of such remarks by the Chinese premier, who has called for further fiscal stimulus in his country.

The British markets will be closed at the Boxing Day. No indicator is expected today, neither Europe nor the United States.

As for the oil markets, a barrel of light sweet crude trading at $ 78.75 (+2.09%).The euro rose to 1.4395 dollars (0.14%).

Mixed reaction to the disappointment of the consortium

The CAC 40 is pulled by the title GDF Suez (1.85%). For its part, EDF is 1.23% to 41 euros. According to the Sunday Telegraph, the sovereign fund Abu Dhabi Investment Authority is considering joining the Canadian Pension Plan for an offering of eight billion dollars over the distribution of electricity to EDF in the UK. Total wins 0.82% to 45.37 euros. The three titles are rising stock market while they were part of the consortium, unsuccessful competitor for the contract of 40 billion dollars in the United Arab Emirates to build and operate four nuclear reactors. Only Areva, which was also part of this consortium, fell by 1.81% to 344.40 euros.

From their side, banking stocks such as Credit Agricole (+1.23%) and BNP Paribas (1.19%) are directed upward.Societe Generale is also shaped by mid-session (1.20%). The group could have a new shareholder in the person of the Russian businessman Vladimir Potanin. The shareholder of Norilsk Nickel said Friday it was considering the possibility of taking a minority stake after 2010. Out CAC 40, Natixis lost 0.67% to 3.41 euros.

Cyclicals well oriented

The good figures on car sales in December also bring mixed reactions on the stock exchange. Peugeot is an increasing trend (1.51%) but not the Renault brand (-0.03%). As for suppliers, Michelin signed the largest decline of ACC (-0.61%) and Faurecia loses 1.07% to 15.25 euros. Valeo gained 0.25% to 24.5 M €.

The cyclicals are well oriented. Saint-Gobain is 2.40% to 38.48 euros, and sign the second best performance of the CAC 40, while Schneider Electric gained 1.41% to 80.03 euros.In contrast, defensive stocks are declining in the image of Lafarge, which lost 0.31% to 57 euros.

Sperian gaining 3.15% to 50.90 euros. The group announced Monday the signing of five banks with an agreement to refinance its debt coming due in June 30, 2010.

Towards a "super tax" on the bonus in Great Britain

December 7, 2009 - 5:56 pm Comments Off

After months of debate, the British government seems determined to legislate on the issue of bonus. According to the Financial Times, the British government would consider introducing in its 2010/2011 budget, a "super-tax" which would tax specifically bankers' bonuses. Alistair Darling, Chancellor of the Exchequer, is expected Wednesday to unveil the outline.

In detail, the Financial Times said the tax would be collected over a certain level of bonus, for a limited period. All banks, foreign as British, there would be submitted. Alistair Darling has already said in an interview with the philosophy of planned "at a time as difficult as this one, I think people understand that it is expected that the broadest shoulders bear the weight heavier, "he said.

If this new tax should raise the ire of the City, no doubt he should be more popular among the general public, where the rating of banks is the lowest. The latest bonuses earned by traders for major banks face because the British public, even though these institutions had been massive aid of the hundreds of billions of pounds to prevent collapse of financial system.

Public Accounts bloodless

The government hopes the measure to address tensions of its population, faces rising unemployment and an unprecedented rise in the deficit, which should approach or exceed this year's 12.4% of GDP.

The British traders would thus free of the controversy that accompanied the rescue of banks.The banks are expected to share their escape all taxation, although the government had proposed to levy a tax on profits of banks. However, despite the fact that this option would yield, according to the Times, two billion pounds with a 10% tax, the idea was abandoned, the Financial Times. Still, this measure alone would not have a heavy impact on public finances bloodless. Prime Minister Gordon Brown was to deliver a speech today on the need to reduce spending. It has notably reduced by four the deficit, which will necessitate other arbitrations.

The Walker Report on the bonus shook the City