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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.

For those who are searching for affordable health insurance for their families, research will be essential here as well.

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.

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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At the edge of the wreck, SeaFrance yesterday presented a rescue plan providing for the removal of 725 of 1580 jobs in the company of French Channel ferry. Former Sealink currently backup procedure, had, initially, 482 scheduled departures. "We needed a gain of productivity is very important because the company lost 15 million euros in first four months of 2010," said Vincent Launay, Director General of SeaFrance. The situation, already tense because of strong competition and also the British Channel Tunnel, has further deteriorated after the strike in four days held during the Easter weekend. SeaFrance had lost 1.25 million at that time.

Capital contribution

The new effort called the company will probably be the last. The savings deposits are increasingly difficult to identify.Indeed, SeaFrance is no longer operating a single line (Calais-Dover) and uses more than four boats, three ferries.

"We will optimize the use of staff time based on business days, seasons, rotation, said Vincent Launay, in the service sector we do not have all the shops and all restaurants are open, then there are only a few dozen people on board. "

The company SeaFrance had placed under the supervision of the Commercial Court of Paris in April. It will soon be requesting the conversion of the backup procedure in receivership.

The situation is very delicate in April, the debt amounted to 185 million for 0.07 million of equity. Last year the company lost 36 million to 170 million turnover.

Now the future of SeaFrance through a capital contribution of its 100% shareholder, SNCF. "It would take about 190 million," says one with SeaFrance. The importance of the recovery plan is also justified by the need to convince the European competition of efforts by SeaFrance to extricate himself.

Europe must move faster on the regulation of short sales. This is the opinion of Christine Lagarde, who yesterday called Brussels to "accelerate the work so we can have a coordinated position at European level". The Financial Services Commissioner, Michel Barnier, a device must submit by the fall, but Paris would like to see proposals from Brussels in July or later in September.

The idea being "that is not each other, here or there, tempted to keep up" with other countries that have already taken action on their part. "We will soon impose more stringent rules to harmonize the practices and tools for supervisors, install a coordinating framework for the supervisors, which is not the case today," says Michel Barnier to Le Figaro. The Commission is ready to offer this new framework "at the end of September," he insists.The French commissioner however said he will return to the supervisor of each country, given its assessment of the situation in its markets, to take measures of its choice.

This is precisely what comes to Germany. After banning short selling "naked" on the bonds in the euro area, on certain types of CDS – a contract of insurance against default risk – and the shares of ten financial institutions, Berlin went further yesterday by adopting a bill that extends the prohibition to all stocks.

Technical challenge

Short sales are sophisticated technical exchanges to sell shares they do not yet own, hoping to repurchase them at a lower price later, pocketing the difference. When they are "naked", the investor sells securities he does not even borrowed.The technique is challenged, because accused of encouraging speculation down. But the unilateral initiative of Berlin was cringe. Christine Lagarde has deplored the lack of coordinated European and ensured that Paris would not follow that path Berlin while recalling that France already bans on short selling certain financial stocks since 2008.

Berlin's position is criticized both in London and Paris. "There is certainly not a unanimous position" between the European regulators, "said Chairman of the Committee of European stock market regulators (CESR), Eddy Wymeersch. The framework will present Michel Barnier will solve only part of the problem. In terms of financial supervision, said it does in Brussels, "the Commission does not decide, she proposes.If the Council does not follow, it does not advance.

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The index futures are predicting a slightly lower opening of U.S. markets. Shortly before the opening of Wall Street, futures on indices Standard & Poor's 500 and Nasdaq 100 yield 0.25% and 0.18% respectively at 1 181.50 points and 1969.75 points.

On Monday, the New York Stock Exchange finished at its highest in a year and a half. The Dow Jones gained 0,43% and approaching the threshold of 1,000 points, while the Nasdaq has made 1,12%.

The Easter weekend has been glazed by the publication of a series of macroeconomic indicators considered a good omen. The employment figures, released Friday reassured. In March the U.S. economy created 162,000 jobs, the best performance for over three years. Also in the United States, activity in services has increased more than expected in March, and sales of cars.More good news on the front of the property this time, the promises of housing sales rebounded sharply. She leapt more than 8% in February.

Faced with these signs more and more and tangible relief to the U.S. economy, minutes from the Fed, expected tonight will be scrutinized by investors. The discussions among central bankers are particularly lively, especially on whether or not to keep interest rates "sustained low. The deal also discuss the rate at which the waves of liquidity dumped on the markets must be included. On Wednesday night, announcing a further increase in outstanding consumer credit, the month of February, is also positive news.

Values follow

Apple announced it had sold more than 300,000 iPad Saturday for the first day of marketing.This figure included the taking of orders. Analysts had forecast sales of between 250,000 and 350,000 units over the entire weekend. Following this announcement, several analysts raised their price target on Apple.

The companies that provide components for the digital pad Apple could also benefit from the craze for iPad if it is confirmed. The product categories include Samsung Electronics, Broadcom or Texas Instrument.

The Wall Street Journal, the U.S. software giant Microsoft plans to unveil a new range of mobile phones next week, with features of socialization designed to attract young consumers.

Good operation for Viel & Co. The investment company announces for its fiscal 2009 net income Group share up 18% to 37.4 million euros. However, this good result is not due to improved operational performance. Indeed, the operating result fell by 5% to 92 million euros against 97 million a year earlier. The turnover was also down 8.9% as reported, to 922.6 million euros against 1.013 billion euros in 2008.

The investment company is a drop in revenue on its two main branches: the interdealer broker and the stock online. The first garnered 895.9 million euros last year against 981.6 million euros in 2008 no teletrack payday loans.The second fall to 26.7 million euros against 31.4 million euros a year earlier.

The quarterly changes in earnings highlights a steady decline throughout the year for both branches. The last months of 2009 were particularly difficult with the fourth quarter, a consolidated turnover of 208.5 million group euros against 263.8 million euros over the same period in 2008, a decrease 21%.

The band announced a dividend of 0.15 euro per share, identical to that which was paid in respect of fiscal 2008, "is a payout ratio of 30.4% of net income group share . In 2010, Viel & Cie is not a forecast.

Its director general, Pascal Lamy, can only be welcomed. Forecasts of the World Trade Organization (WTO) that directs, published Friday, show a rebound in volume of 9.5% of world trade this year, against a fall of 12.2% in 2009. "We see light at the end of the tunnel," he said adding that developing countries would be the first to take the recovery with an increase of 11% of their exports in 2010, while the industrialized countries over severely affected by the crisis, would experience slightly slower growth of around 7.5%.

This increase, says the WTO, "assumes a resumption of growth of GDP (gross domestic product) World consistent with what we agree to provide, 2.9% and d 'stability of oil prices and exchange rates.A necessary precaution when we see deterioration including high speed climate of trade between China and the United States amid manipulation of the yuan. But China, confirms the WTO has indeed surpassed last year in Germany as world's largest exporter, with 10% of total sales made outside borders around the globe. It also constitutes the second largest importer behind the United States.

Protectionism Chinese

We must therefore rely more and more with this giant even more difficult to control it does not always respect the rules of international trade and often plays with protectionism hiding his name.

Pascal Lamy, however, notes that, contrary to what one could imagine, and despite rising unemployment, "the number of restrictions to trade applied by governments has declined in recent months.But unfortunately this does not suffice to revive the negotiations of the Doha round of trade liberalization, which stalled since 2001, admitted Friday at the Geneva WTO boss.

130 000 138 000: the number of managers who should be recruited this year, according to the annual survey of the Association for the use of frameworks (APEC). A decrease between 10% and 4% compared to 2009, the year already with a disastrous 28% decline in recruitment.

For if France was recovering from recession, the economic outlook remains uncertain. So, most leaders, including major groups, which at the height of the crisis have tightened the bolts in terms of wages than new hires, no plans, for now at least, change policy.

In this gloomy climate, the most affected will be like last year's graduates (bac + 4 and above). "Their situation will be the worst ever," said Jacky Chatelain, director general of APEC. The figures speak for themselves.Post engineering schools, business schools or university, they will be 120 000 to enter the labor market. But according to Pierre Lamblin, Director of Studies and Research of APEC, 21 000 to 23 000 only, 000 against 29 last year and nearly 45 000 in 2008, will be recruited with the status under this year, the lowest figure since … 1993. In addition, at the time, the number of graduates was far lower savings account payday advance .

This further deterioration due to several factors. First, the longer the duration of the contribution of assets born after 1948 to receive a full pension, which mitigates the effects of "aging population".Second, firms prefer hiring young professionals and executives confirmed mostly (five years minimum experience) that represent more than half of the hires in 2010.

Improvement from 2011

By sector, after a sharp decline in 2009 (- 34%), recruitment in the industry are still in decline (between – 14% – 23%). The construction and trade are also strongly affected. In contrast, services (banking, insurance, specialized distribution, engineering …) will be resistance and could stabilize the level of recruitment.

Finally, little sign of optimism, though short-term horizon of the job market for executives is quite stuffy in the medium term it is expected. Forecasts of APEC, recruitment would increase steadily from 2011 to regain a high level in 2012.And in 2014, companies would hire more than 240 000 frames, which constitute a record.

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In the wake of Grants in Asia this morning, the CAC 40 on a downward trend during the early exchanges. It lost 0.53% to 3669 points before embarking on his decline of 1%.

Meanwhile the employment figures in the United States, which will be published in early afternoon, the French public deficit rose to a record 138 billion euros in 2009 against 56.3 billion euros last year. As the trade deficit, it was absorbed in 2009 to 43,03 billion euros against 55.14 billion euros. Other important economic indicators are expected in Europe: Industrial output for the month of December and for 2009, Germany, and producer prices in January, Great Britain.

Finally, the finance ministers and central bankers of the G7 meet in Iqaluit, Canada.

The detailed values to follow