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"Emerging markets are driving growth of the group," said Pierre Pringuet, CEO of Pernod Ricard, the antenna of the radio BFM on Wednesday. Indeed, in 2009/10, whose results were presented this morning, the group's operational performance has been particularly supported by those countries. The specialist wine and spirits show an operating profit of 1.8 billion euros, down 3% but up 4% in organic growth, with organic growth of 14% in Asia and the rest of the world "resulting from Martell particular dynamism in China and local brands in India, the upturn in South Korea and Duty Free markets and strong growth in Africa and the Middle East," says the direction. Conversely, the "Europe excluding France was the region most affected by the crisis with a decline in profit from recurring operations of 3%, said Pernod Ricard.

The leader has said that the group strategy in emerging markets has paid off. Contrary to some distributors, the group has backed the development of its brands 'premium' in those countries where else put more emphasis on products at low costs. However, Pierre Pringuet, said that "the premium brands are spared the game" with growth twice as large.

But overall, the results published by the group are slightly below expectations. The French group announced a net profit of 951 million euros, up 1% for fiscal year 2009-2010 (ending June 30th). As for turnover, it was 7.1 billion euros, down 2% but the growth amounted to 2% payday loans.

Moreover, the average cost of debt was 4.3% throughout 2009/10, up from 4.8% recorded over the previous year. Based on current interest rates, the target for the year 2010/11 is to maintain the average cost of debt at a level below 5%, said the group, which has not communicated earnings prospects for its next fiscal year.

Objectives: Debt Reduction and Development

Management has stated that "his priorities are the development" of its flagship brands, as well as "pursuing a sustained level of marketing investment and debt relief group, in the words of Pierre Pringuet.The Chief Executive, has stressed this morning on BFM radio that the two group's goals for the year have been achieved: "We had two objectives: to reinvest in marketing, what has been done since the expenses marketing has grown twice as fast as revenues, and defease the group, pushing the ratio of debt to cash flow to 4.9.

Pierre Pringuet also puts forward "the return to normal policy of dividend distribution group." He promises that, once again, "one third of the dividend will be distributed" after the unit was exceptionally low last year "because of the financial situation". The dividend will reach EUR 1.34 per share, therefore, under 2009/10.

In early trade, as the market declined more since the action lost 1.2% against a decline of 0.6% for the CAC 40.

The first 100 French advertisers have invested 5.4 billion gross in the first half of 2010. This amount represents 42.3% of cross-media advertising investment, according to the barometer "Top 100 Advertisers' of Kantar Media Institute.

Automaker Renault leads the standings with 224.1 million euros invested in the rough period before Peugeot, whose communications budget reached 175.5 million euros. With Citroen (149.4 million euros) in fourth place, behind SFR (150.8 million), the automotive sector accounts for one quarter and investment in this top 100.

Of all the advertisers, the consumer sector, which forms the bulk of the advertising market with a 21% investment.The Unilever and Procter & Gamble are ranked at the sixth and eighth in the standings, with 145.2 million and 118.1 million euros invested since the beginning of the year.

Television is the medium of choice for these trucks communication, absorbing 43% of their advertising investment, before the press (19.2%), radio (15.4%) and Internet (12.5%).

Between business and ecology, this is not a love story. More than half of French companies reported that they did not intend to invest in sustainable development, according to a survey * BVA-line today at the Ministry of Economy.

Results that "contrasts with a poll CGPME March 2010 in which 81% of SMEs said they had" built into their thinking "on sustainable development, says the summary of the study.

From there to pass the act … "There's still a gap between thought and investment," says Bercy. Is it lack of interest? To avoid additional costs? The study does not answer. But she notes that the average conceals wide disparities by size of business.

Only TPE is a majority (56%) not intend to invest.From 10 employees, companies have either already invested or plan to invest.

The SMEs are medium sized (50 to 249 employees) the most advanced. "Without doubt they react faster to trends." Nearly half have already invested in sustainable development.

Larger companies (more than 250 employees) are slightly less likely to have invested, but they are twice as likely as mid-sized SMEs intend to do.

Companies that invest the most say in the sustainable development belong primarily to the agricultural sector, construction and services.Sustainable development is probably made by these companies from an environmental perspective, "these sectors more than others is subject to obligations or strong incentives matter (fertilizer use, emissions of greenhouse gases including ) "concludes the study

* Survey conducted by the Institute at the request of the Ministry of Economy, Industry and Employment and the Department of Budget, Public Accounts and State Reform.

Conducted from May 26 to June 10, 2010 with 701 business leaders, HR and Executive Committee members.

The M6 Group on Tuesday said its results for the first half of 2010. Turnover increased by 9.4% and advertising revenue of 7.4% by M6.

LE FIGARO. – The results of the first half they marked the recovery of accounts?

Nicolas de Tavernost. – The model M6, which is based on two feet, with 55% of revenues related to advertising and 45% due to diversification, proved last year that he could withstand the crisis. In 2009, M6 has been one of the few media groups in Europe to maintain its result. Today, that same model shows that it is also effective in upturns. Thus, our operating profit grew by 23% in the first half of 2010.

Note that all segments of the group – the M6, digital channels, media rights, Internet, Distance Selling … – rose.Accordingly, the group turnover is above the 2008 level, which is not the case in the advertising market. Finally, with an operating margin growth of 2.1 points to 17.9%, the profitability of the M6 is two times higher than its main competitor. This validates the relevance of model M6.

M6 she stood facing the World Cup football?

Firstly, that the advertising market has benefited from a World Cup is not correct. Proof, M6, which was unable to attend matches of the World Cup as opposed to TF1, France Televisions, Canal +, has turned this handicap into an advantage. This is for two simple reasons: three-quarters of advertisers looking for a female audience, which is not the case with football, and during games it is difficult to insert commercial breaks.During the World Cup, M6 has made a good-cons programming including "Love is in the meadow, which was a great success. In the end, the World Cup has cost us about 0.3 point fall national audience but had no effect on our advertising revenue. Instead, in June, our screens were saturated and our advertising revenue in the second quarter increased 12%.

Does that mean you give up to buy sports rights?

I did not say that. M6 continue to purchase rights, particularly in football, but we approach the issue with caution. Today, the cost of rights is too important, even if they have started to fall on those of the France team and those of the Champions League.We acquired two games of the France team in the fall (Luxembourg-France and Bosnia-France) and we will probably go on the tender to be held in September of rights for Euro 2012 and 2016.

The hearing is continuing its erosion of M6. How about it?

Let's review the last ten years. During this period, the M6 has improved its position against its competitors historical. In 2000, we were only 38% of TF1's hearing today, we are at 42%. Better still, we're currently 64% of the hearing of France 2 against 57% in 2000 and we arrive at 95% of the audience at France 3. In absolute terms, of course, the hearing of M6 is increased from 12.7% in 2000 to 10.4% today. But in ten years, the number of channels has increased with TNT. We must therefore measure the audience of all group channels (M6, W9 and channels), which has now reached 14.2%.We have therefore gained market share in a decade.

What are your predictions for the advertising market in 2010?

The rise of television advertising market is due to the very effectiveness of the media, which proved he was still the most powerful. However, after the crisis of 2009, the market still suffers from a decline of 10% compared to 2008. We hope in the second half we find these levels. It should be noted that in the meantime the offer of television has multiplied, and there is more competition on a smaller market. Despite this background, M6 has managed to improve its result. For the whole year, I do not give predictions but I can tell you that in the short term, over the months of July, August and September, the market is not bad.

In addition, W9 continues to grow very rapidly. W9 has a national audience share of 3% and 3.8% on our business targets.She continues to experience strong growth in advertising revenues and is the TNT channel most invested in advertising.

Will you return to innovate?

The M6 has always been innovative, two examples: it has been three years since we have successfully focused on cooking with "Dine With Me" and "Top Chef" of success that will continue in September. We have also developed the second generation of reality: with "Love is in the meadow", "New Star" and "Amazing Talent," which are programs to successful wide audience. The "19.45", launched last September, is already a success that should be amplified, we will pursue innovation in September with the recently highlighted the skills of French artisans.

We have also innovated with our services and VOD Catch Up TV (M6 and W9 Replay Replay).Even if these new services are growing very rapidly, we should keep. Eventually, the TV catch-up will represent between 2% to 4% of the initial hearing of the television and almost as much revenue.

M6 Will he participate in tenders issued by the CSA for the new DTT channels?

Currently, we examine the context of the tender. But be careful to balance the market in France, we are the European countries that saw the most public and private channels to develop.But the market can absorb new channels constantly.

Regarding funding, he must go after the clarification sought by the President of the Republic: government revenue for public broadcasters, private income for private channels, it is the condition of a balanced television industry.

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The Zerg, Protoss and Terrans are back. The three races battling in the legendary game of real-time strategy StarCraft landed Monday on PCs around the world after twelve years of absence. Fnac des Champs-Elysees the game will go on sale 22 hours. The first version of this futuristic war of the worlds had sold 11 million copies.

The publisher Activision Blizzard (Vivendi) is certain: Starcraft II (sold $ 60) will also be a success. During a meeting with analysts, reports the Wall Street Journal, Bobby Kotick, chief editor, said that Starcraft II was one of the "seven pillars of opportunity" of his group. Each of these "pillars" should generate between 500 million and 1 billion dollars during his life.

If Activision Blizzard does not want to reveal the cost of developing new work, the game should be very profitable thanks to increasing revenue. Beyond the 60 euros of the sale price of the base game, players will be encouraged to buy add-ons (weapons, missions) throughout its progress in the game All this, via micro-transactions online.

"Captive audience"

The advantage? "This results in recurring revenues and customer becomes captive, publishers building online communities around their titles, decrypts Richard Beaudou, video games analyst at Natixis. "This model comes from Japan and invaded Europe in two years." Gross margin games designed on this model reaches 50%, against 15-25% for conventional.

The launch of Starcraft could however be overshadowed by a lackluster.Video game sales fell 6% over the first five months of the year in the United States, according to the institute reference NPD Group. Activision Blizzard executives remain confident. "StarCraft II will not fail to customers," he assured Bobby Kotick at the E3 video games fair in Las Vegas. "Several million people are still playing the first version of the game when it was released just over ten years."

Cows

Activision Blizzard hopes to replicate the success of World of Warcraft, Call of Duty or Guitar Hero, all blockbusters. These securities have become over time real cash cows, each new version is proving to be a commercial success.The latest edition of World of Warcraft and Call of Duty have enabled the group to see its turnover soar 33% in first quarter 2010, against the current market.

On Monday in early trading, Activision Blizzard title earned 1.54%, to 11.91 dollars at the NYSE.

The pharmaceutical group Sanofi-Aventis, seeking a major acquisition, would have approached the U.S. biotech Genzyme understands the Wall Street Journal on its website. In early July, the French had been the subject of market rumors about a proposed acquisition of U.S. $ 20 billion.

"Discussions are still in their infancy and there is no agreement expected in the immediate future. Issues such as price and management have not yet been addressed. " Both groups refuse to aAny comment.

According to the U.S. daily, officials from Genzyme, which specializes in products for the treatment of orphan diseases, are studying the amount that Sanofi would pay.In Stock, Genzyme capitalization stood at 14 billion dollars (10.8 billion euros) but the group can require a significant premium given its portfolio of drugs. "If we take as a starting point the figure of 20 billion dollars that has been discussed before, this puts Genzyme to $ 75 (per share)," said Michael Yee, an analyst at RBC Capital Markets.

Blow to Lovenox that will have to battle against a generic

In exchange, the action Genzyme has skyrocketed 15% to 62.52 dollars a barrel on Wall Street. And during transactions unofficial title continued to grow.

Faced with competition from generic drugs, many pharmaceutical companies are looking for external growth.And the more that Sanofi-Aventis has paid this Friday a blow, with the approval by U.S. health officials the first of its generic anti-coagulant Lovenox star, his second top-selling drug in the world. "The FDA today approved the Administrationa first generic version of Lovenox, the FDA announced in a statement posted on its website.

This product is developed by the Swiss Sandoz, the generic arm of Novartis, Momenta and American society.Sales of Lovenox, a drug derived from heparin and more complex to copy a traditional chemical molecule had reached 3 billion euros worldwide in 2009, including $ 1.8 billion in the United States.

In the first quarter 2010, sales of the drug was 769 million euros, which was still the second largest group of drug sold in the world.

The sales of Sanofi made in the USA by its anticancer Eloxin fell sharply after the launch of generic versions, while its other cancer drugs, Taxotere, will drop its patent to the public in November in Europe and United States.

In late June, Sanofi announced the acquisition of American TargeGen for 560 million dollars (458.5 million euros) in order to strengthen the fight against cancer.

Photographers, cameramen, and around 70 MPs, including several tenors Socialists (Francois Hollande, Jean-Marc Ayrault) belonging to other committees, however … The Social Affairs Committee of the Assembly, Eric Woerth who auditioned Tuesday, just after presenting his plan to reform pensions in Cabinet, had on Tuesday an unusually busy. She was visibly much at the media-political context and the importance of the bill to the agenda. The audience was also gradually scattered throughout the session … And if the Left has repeatedly expressed its disapproval loudly – a ruckus usually reserved for the Chamber – is inside the text she attacked.

The fate of the Pension Reserve Fund has attracted the most virulent attacks.Introduced by Lionel Jospin and supposed to help pass the peak of demographic imbalance between contributors and pensioners, beginning in 2020, the FRR will finally be used to offset deficits in coming years, pending the promised balance by the government in 2018. "Your reform is shortsighted, accused DSK.The holdup on the Pension Reserve Fund is to penalize future generations. "

PS She also found that the device "hardship" (starting at age 60 with full rate, subject to a disability of 20%) returned to "say people who are disabled or sick are entitled to be found invalid or sick " instant payday loan no TeleCheck.

"A good balance"

Labour Minister regretted the "distortions" and recalled that this device, combined with the long careers (early departure for those who started working before age 18) should cover 100,000 people per year in 2015, a new retiree on about six.Earlier, Eric Woerth was held, in an interview Capital.fr that the threshold of 20% was a "good balance", seemingly closing the door to a significant change – and potentially costly – on this point.

Not a word left, however, to challenge the alignment of the contribution pensions of officials on that of private sector employees.

The majority, she has power, supporting a reform considered "essential," "urgent," "fair" and "effective". Jean-Luc Préel however, raised a question: "I have some doubts about the economic forecasts that seem optimistic," said the member of the New Center.

Meanwhile, unions have reaffirmed their opposition to the reform, gathered before the Ministry of Labour hundreds of activists, including Bernard Thibault (CGT), François Chérèque (CFDT), Alain Olive (UNSA) and Bernadette Groison (FSU).

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After starting the session on an uptick, the indices fall into the red after 16 hours. The Dow Jones lost 0.11% to 10.431points, while the S & P coward 0.20% to 1111 points. Only the Nasdaq is on track with an increase of 0.13% to 2292 points. Investors welcomed the announcement of a bad back, unexpected, in May, resales of new housing: – 2.2% last month to 5.66 million units annualized, while economists had forecast an average of 6 12 million units or 5.5%. This further decline comes after two consecutive months of rising sales.

The night before, after long hesitation which direction to take, Wall Street finished little decline in trading volumes very low: The Dow Jones lost 0.08% at 10,442 points, the Nasdaq 0.90% to 2289 points and the S & P500 -0.39% to 1113 points. Previously, Wall Street had lined up eight consecutive sessions.Yesterday, investors have largely reacted to the announcement by China to implement an exchange rate policy more "flexible".

On the foreign exchange market, the euro resumed its decline late Monday afternoon, and continued to fall in the morning against the dollar, falling below 1.23 dollars, amid persistent fears over the economic health Europe Guaranteed payday loans.

Energy and raw material expected

On the side of values, or related companies exporting energy and raw materials may still be affected by the rising yuan including Caterpillar (+0.17% to 66.18 dollars) a strong presence in China, Freeport -McMoRan Copper & Gold (-1.37% to 67.18 dollars) or aluminum specialist Alcoa (-0.17% 11.70 dollars).Conversely, the retail sector could suffer pressure on its margins.

Always on the side of values, Visa (-1.33% to 79.82 dollars) and Mastercard (-0.05% to 223.22 U.S. dollars) closed sharply higher Monday after an agreement between members of Congress on the regulation banking fees.

Also note, Goldman Sachs (-0.37% to 137.23 dollars), receives an extension from the court to answer a complaint filed by the SEC, which accused him of fraud. Goldman Sachs has until July 19 to provide evidence to defend himself against the complaint, which concerns the sale of CDOs.

Greater China specialist, Stephen Green spoke yesterday at the Treasury Conference on Europe-China relationship.

LE FIGARO – With a CEO who has just moved to Hong Kong and a proposed listing in Shanghai, is this the year of homecoming for HSBC?

Stephen Green – It has been four years since we started this movement to Asia, but it is true that the transfer of Michael Geoghegan office in Hong Kong earlier this year, marks a significant milestone.

When do you hope to enter the Shanghai Stock Exchange?

We expect the Shanghai Stock Exchange opens to foreigners. This process takes time. Let the Chinese authorities to develop policies and adapt the rules.It is unlikely that we can go public before the end of the year.

HSBC would be the first foreigner to be quoting in Shanghai?

We'd love to, but we're not the only candidates. There is also the ranks of major manufacturers with significant operations in China.

Why this rating?

This shows our long term commitment to China. The capital raised also fund our development in the country. This occurs on one side through our partnership with Bank of Communications, China's fifth largest bank, which we own 19%. We have a very important joint venture in the field of credit cards. Our development is also through our own network we want to expand. We have recently opened our hundredth agency and we would like to be present in all Chinese provinces.We need capital to finance not only our physical development but also to lend to small businesses in China.

The Chinese regulator urges domestic banks to better manage their risks. Is this a danger?

The overall outlook of the Chinese economy are excellent. The growth promises to remain strong for many years, with the aim to extend development to the west. In this context, banks have an important role in financing. As everywhere, there will be bubbles. But for ten years, banks have greatly strengthened, both in equity but also in ability to control risks. I am not worried about how the Chinese banking system operates.

What is the step after?

The main challenge for China is in the creation of a large debt market.For now, Chinese companies are financed through banks or equity markets. They will need an efficient debt market.

Do you fear the new prudential standards Basel 3?

The G20 meeting in Toronto next week, will be important. I observe a growing awareness on the part of governments that reform can not be applied in the calendar originally proposed. It takes time. It is essential that regulators calibrate the measures taking into account their impact on the real economy. If the device was applied as such, the banking system should recapitalize by much too important.

The tax on banks you worried she also?

This topic is joined in the previous because they threaten the profitability of banks. Some have generated returns of nearly 30% that were not sustainable.But, conversely, governments and regulators should realize that if banks are no longer sufficiently profitable, it attracts more private capital. And therefore, they can no longer finance the economy.

What is the minimum rate of return?

It is estimated that the cost of capital for a bank is around 10 to 11%. Therefore a return above this level.

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This is the game in the match. A confrontation that has now lasted fifteen years and which becomes, every World Cup, a bit tighter. What is at stake? Nothing less than the title of world's first supplier football, a market estimated at 8.4 billion euros.

Adidas, supplier of the Blues since 1972 and until the end of the year, has long dominated the head and shoulders in this market. It must be said that the three stripes accompanies some of the heavyweights of the circuit, between Germany, Argentina, or Spain, European champion in title. In South Africa, no less than 250 players will evolve with his shoes on his feet, including the Golden Ball in 2010, the Argentine Lionel Messi. Adidas is also and always a cornerstone partner of FIFA. As such it will still provide the official ball of the competition, Jabulani.A real goose that lays the golden eggs as 100 million replica of the official ball (Teamgeist) were sold during the last World Cup in Germany. The German brand thinks its still football star. With 12 selections in the portfolio, it remains the leading supplier of this World Cup as the number of teams and expects a turnover exceeding 1.3 billion euros in football in 2010. The number of Blue jerseys sold, it announced already 300,000 copies pay day loans.

Across the U.S. Nike did not hear it that way. With nine teams selected, including Brazil, but also England and Portugal, the group digs every year its wake. By adding the sales of its subsidiary Umbro, it also claims the No. 1 spot in world football, for a turnover of 1.9 billion dollars.Undoubtedly the American brand has scored points in football in recent years, including garnering the Blues jersey from 1 January 2011 and until 2014. The sum on the table to win has skyrocketed since we are talking of 320 million euros over four years! A number deemed unreasonable by the loser, the term of moody French, both in qualifying at the World Cup matches that preparedness, indeed raises question ….

Faced with these two giants going blow for blow, Puma heard his little music. Not without success and without excess. Equipment manufacturer of world champions title, Italy, a subsidiary of PPR focuses more than ever on African football.The team for this year four of the six teams involved in the African continent, South Africa, including Algeria (whose jerseys are selling like hotcakes, especially in France), Cameroon and Cote d'Ivoire.