World News – International Headlines, Stories

So that opens Monday at the Mobile World Congress, high mass annual telecom, Barcelona, major European operators go on the offensive. "The alarm clock rang operators. We now have a clear vision of the challenges faced by our model. We are determined to go on the offensive, "says Stéphane Richard, CEO of France Telecom, Le Figaro.

The "G5", this informal club which meets the five major European operators (Orange, Vodafone, Telefonica, Telecom Italia and Deutsche Telekom), met this morning in Barcelona. First concern is the increasing traffic by 18 on the fixed and mobile networks within four years the network congestion threatens. To avoid saturation, operators have to invest heavily … and fully intend to share the bill with those who are the primary beneficiaries: YouTube, Google and others."For years, compensate operators naturally flows exchanged between them is the system of peering. What they sent about what they were getting compensated. But this system has experienced since the flows are completely unbalanced for two years due to the explosion of video. Some players who are behind the explosion of traffic must be willing to help finance the investments needed to route this traffic, "insists Stephen Richard.

Another concern is the lack of competition in the shops of applications. "Competition in telecom has always been seen by Brussels in terms of infrastructure and networks. Today, there is another reality: the arrival of new players like Google and Apple, "says Stéphane Richard.And example is the Read & Go application, developed by Orange and various publishers, behind Apple to allow on its online store. "This practice is acceptable?" Interrogates Stéphane Richard. It will meet in Brussels.

Netting on 4G

The five major operators should also announce a better coordination on mobile contactless or NFC, with a launch expected this year. "Contactless will bring out new services and our customers. They can use their mobile as a payment card, such as ticketing, such as badges for access to buildings or as a transportation tag. Orange aims NFC 500,000 customers by the end of the year in France and the integration causes many of these new services without contact from the SIM card. The market is ripe now, "says Stéphane Richard.Orange is also announcing today an agreement with Samsung for the upcoming European launch of a new NFC-enabled mobile.

The CEO of France Telecom is very proactive on the fourth generation of mobile, "it is inevitable that changes to the 4G. Orange is ready to participate in the tender in France. What bothers me is neither the timing nor the principle of a high reserve price (the government wants to recover 2 billion of licenses to be issued in France in the summer, Ed), but problem is to increase the stress on operators when they are asked to invest heavily. Operators will face a fourth operator in a mature market, "he says.

And the beautiful game operator to point the proliferation of taxes, the latest being the recovery of VAT."In crude, we had a lot of termination, but this represents a net lost few customers. Because the vast majority of customers who cancel a subscription at Orange resume here. In any case, those who still thought that there was insufficient competition in the market were able to verify the bitterness of the fight, "says Stéphane Richard.

ALSO READ:

"Salon de Barcelona rush phones and tablets 4G

All Tunisian airports are reopened to air traffic, said Saturday the Tunisian Civil Aviation in a statement. The closure of the airspace was announced Friday by an airport source when former President Zine El Abidine Ben Ali was preparing to flee the country.

"The Tunisian airspace and national airports are open to air traffic," said the agency in a statement released by the official news agency TAP.

Defer non-urgent travel

The office has however urged travelers to check with airlines to avoid clutter which would be linked to the cancellation or delay of flights. On Friday, the French Ministry of Foreign Affairs recommended "strongly" to "defer all travel which would not urgent" flights to Tunisia.In the process, tour operators have suspended all departures of customers bound for this country. The Crisis in place working to provide increased security for tourists staying in hotels and organize customer feedback. About 8,000 French currently staying in Tunisia, as the Secretary of State for Tourism.

The CETO (Association of Tour Operators) also advised to suspend departures to Tunisia until Monday included because of "recent developments of the situation" in the country. The president of the organization Rene-Marc Chikli, said Saturday that the return of French tourists on holiday in Tunisia will be possible once this weekend, but it will take several days because of constraints related to lack of aircraft and curfew imposed in the country. This applies to 6:00 p.m. to 6:00 am."Flights that were in the lineup for the weekend returns are kept on Monastir and Djerba, but it's more complicated to Tunis," he said.

Free Reports

The skipper of Ceto, nevertheless reaffirmed that customers were "safe in the hotels." There is no panic in hotels, "said Jean-Marc Roze, General Secretary of National Union of Travel Agencies (SNAV), where a crisis has been activated. Since the beginning of events Tunisia, vacationers "are well and no incidents were reported," he said Saturday. At Thomas Cook France, "25 people are involved in the company's headquarters to find aircraft, crew, contact our travel agency, be responsive relationship with all our Tunisia, our staff at airports and the company Insurance …».Among major operators, accounted Marmara 790 customers in Tunisia, and Thomas Cook France 700 New Frontiers 200. Fram in 1600 totaled between short and long stays.

For customers whose flights have been suspended, proposed deferral of travel, without charge, at a later date on Tunisia or wherever have been rapidly advanced by tour operators. The events in Tunisia under the case of "force majeure", professionals find themselves "freed from their traditional obligations to people traveling or refund if there is a change," told AFP Me Emmanuelle Llop, lawyer. "They do not offer refunds spontaneously because they do not always this possibility, including travel agents who have more funds," she says.Some operators, however, offer refunds or assets.

Special flights

German tourists were repatriated on Saturday, said tour operators across the Rhine. The TUI provides for departures from Monastir and Djerba. Buses are currently en route to the hotels where the guests stay for transfer to the airport. In addition to flights normally scheduled for this Saturday, special flights operated by airlines German TUIfly and Nouvelair Tunisia, should be established. They repatriate tourists to Hannover, Frankfurt, Munich, Nuremberg and Stuttgart, said the spokesman. TUI decided to cancel all his trips to Tunisia until 24 January inclusive.

The tour operator Thomas Cook expects to repatriate this Saturday's 1800 holiday still in Tunisia.They spent a quiet night in their hotel in Monastir and Djerba, said a spokesman, Mathias Brandes. Some 230 holidaymakers had been evacuated Friday night in Dusseldorf, Berlin and Vienna, as the 100% subsidiary of the British group of the same name. Thomas Cook has canceled all its trips to Tunisia until Monday. The Tunis-Frankfurt Lufthansa flight scheduled this Saturday has been canceled.

(With agencies)

ALSO READ:

"Tunisia: canceled flights, a thousand people jammed

The largest French companies are not necessarily those that relate most to the state coffers. According to a survey published this weekend in the Journal du Dimanche, a CAC 40 company in four would not pay tax (CIT) last year. Danone, Suez Environment, Total, Saint Gobain, Schneider or completely escape such levy. Half of the CAC 40 companies chose not to respond to questions from the newspaper, but "if they say nothing is that they do not pay much," says in his columns a tax lawyer. As already noted a report by the mandatory withdrawals last October, the CAC 40 companies are taxed at an average height of 8% of their profits, against 33% normally. SMEs, less able to exploit various tax loopholes, by transferring an average of 22%.

Because it is under the tax code that the contribution of big business reached a level so low. Despite the high rate of corporation tax in France, many tax provisions, such as unlimited carryover of losses, the research tax credit or the deductibility of loan interest, they can indeed reduce their payments. According to the Council of compulsory levies, the cost to the state of the various loopholes in the tax and social benefit to companies reached 172 billion euros in 2010 on line pay day loans. Danone, for example, taxes deducted from the borrowing for the acquisition of Numico in 2007, says the JDD. And if other businesses, such Total or PSA, revertants do anything this year for being in the red, they may also limit their payments in subsequent years, with unlimited carry-over losses deplored during the crisis.

Finally, as a result of these multiple devices, the product of the corporate tax is reduced gradually. Hence the idea, supported by the Elysée, an overhaul of the device for more convergence with other European states, particularly Germany. Pressure without success on Ireland to raise its IS – the lowest in Europe at 12.5% – said the crucial for France and Germany at the tax variable. If the establishment of a single rate for all European countries seems unlikely, France and Germany would lead, at least, to fix a similar attitude. The European Commission should make proposals in March.

Stock markets close an American with no direction on Friday. The Dow Jones was down 0.06% to 11,491.90 points, while the Nasdaq gained 0.21% to 2642.97 points and the S & P 500 is 0.08% to 1243.91 points. Wall Street took a breather after closing Thursday at its highest level in two years through a series of statistics smiling bode well in this season.

After mixed accounts for FedEx, the encouraging figures of employment, but more importantly, an index of manufacturing activity from the Philadelphia Fed up sharply, the Dow Jones closed up 0.36% at 11,499 points . Investors, however moderate their passions, while concerns over the European countries of their debts patients remained alive. Leaders of euro zone met indeed.After Greece and Ireland, whose rating has been downgraded from 5 notches by Moody's on Thursday, Spain and Portugal remain threatened. Moody's also warned it might lower the rating again in Greece.

Reduced macroeconomic agenda

On the front of the macroeconomic news, the composite index of U.S. economic indicators released Friday by the Conference Board rose, as expected, by 1.1% in November, slightly less than expected by analysts.

Blackstone, Oracle, RIM and Toreador to a

On the corporate side, the U.S. investment fund Blackstone Group (+0.37% to 13.46 dollars) has reached an agreement to restructure around seven billion dollars of debt related to the purchase in 2007 of real estate group Equity Office Properties Trust , said Friday the Wall Street Journal.This agreement provides for a rescheduling of the debt until 2014, instead of 2012 previously, the newspaper said, citing sources close to the negotiations.

The software publisher professionnelsOracle (3 cash advances pay day loan.94% to 31.46 dollars) unveiled the results above expectations. In the second quarter, which ended in late November, the group net profit up 28% to $ 1.87 billion, or 37 cents per share. Excluding items, earnings per share were 51 cents, or 5 cents better than consensus Thomson Reuters. Turnover rose 47% to $ 8.6 billion through consolidation of Sun Microsystems. Wall Street was 8.34 billion dollars.

The Canadian Research In Motion (1.62% to 60.20 U.S. dollars) Thursday reported a quarterly profit above expectations thanks to Torch model Blackberry, competitor to Apple's iPhone.RIM reported net earnings up 45% for its third quarter to 911.1 million dollars. The turnover amounted to 5.49 billion. RIM said to have delivered 14.2 million BlackBerry for the quarter and have garnered 5.1 million net new subscribers. In after-hours trading in the U.S., the value gained 3.4% to 61.25 dollars after finishing up 0.1% to 59.24 dollars on the Nasdaq.

The Japanese group Fujitsu computer equipment (-0.62% to 33.74 dollars) has also announced it would develop with Boeing (0.98% to 65.03 dollars) a system of electronic tagging of aircraft to reduce the maintenance costs of fleets.The two companies plan to start their process in the first quarter of 2012, for aircraft manufactured by Boeing but also by other aircraft manufacturers, said Friday the Japanese firm in a statement.

A note on Friday, finally arriving in Paris deToreador Resources, (-1.90% at 15.01 dollars), a group of American exploration and production of oil and gas traded on the Nasdaq. There was a marked increase in its first day of listing on the Paris Bourse. Late afternoon, the title and earned 1.45% to 11.86 euros.

Ireland

• Weaknesses: The banks are the main problem of the Celtic Tiger. Almost all of the deficit abyss of 2010, representing 32% of GDP, is due to the aid plan for banks.

The financial sector had grown beyond the reasonable riding the housing bubble of the 2000s. The crisis has killed the market for construction and real estate. Households find themselves in great difficulties: their debts are often secured on their house, atteingnent 150% of their gross disposable income. "The default rate could rise in coming months, which could weaken banks and indirectly increase the deficit of the state, which would come to their rescue," worries Adele Renaux, economist at Natixis.

• Strengths: Ireland is a highly competitive country, unlike Spain and Portugal.The corporation tax to 12.5%, remains well below that of its European counterparts, between 20% and 30%. The workforce is highly trained.

Contrary also to countries of the Iberian Peninsula, Ireland specializes in industries carriers. Through pharmacy, chemistry or even the food, the island has a trade surplus. Exports should also be the principal-if not the only engine of growth in the medium term. In 2011, BNP Paribas expects an increase in activity of 1.5%.

Portugal

• Weaknesses: Its economy is specialized in industries with low added value, such as textiles. It is in direct competition with low cost countries such as the Asian tigers, Tunisia or Turkey. In addition, its main customer is none other than Spain, a country in deep trouble.

The economic outlook is bleak. The recent increase in VAT and a labor market should destroy any heavily damaged recovery in consumption. GDP expected to fall 0.2% in 2011, according to BNP Paribas.

• Strengths: "Portugal has launched the 2000 reforms to improve its competitiveness," says Jesus Castillo, an economist at Natixis. "But the compression of wages has cut consumer spending."

Spain

• Weaknesses: As in Ireland, the consequences of the explosion of the housing bubble were terrible. The regional banks are in big trouble. The real estate market and construction industry are affected. For a long time.

• Strengths: The patient self-inflicted shock therapy and public debt should remain well below levels seen in other peripheral countries.On the other hand, "clean the economy continues as the show (…) the sharp increase in household savings and the shift in activity towards the industry," noted economists at BNP Paribas.

Still, activity has been driven, in recent years by the housing boom. Spain now has to find another engine. In the coming years, "the challenge for Spain is to find a new economic model by investing in training in particular, Analysis Jesus Castillo, an economist at Natixis. A metamorphosis that would take time. Meanwhile, the country counts on tourism.

Greece

• Weaknesses: Historically, the Greek public finances have been badly managed, with a side boondoggle spending and tax revenues that did not fit. Blame it on a very strong culture of tax evasion.Result, public debt will peak at 150% of GDP in 2013. A record in the euro area.

The economy remains in recession. The GDP fell 1.1% in the third quarter. Tight budget, business investment and sluggish demand at half-mast should lead to a 3.1% decrease in activity in 2011, according to BNP Paribas.

• Highlights: Greece is the first World owner. This asset should tell him when world trade recovers. Tourism remains a strong point.

His hourly productivity is higher than those of Spain and Portugal. Moreover, it is still catching up with the economic level of the rest of Europe, which ensures a reserve growth over time. Finally, it enjoys substantial EU subsidies (8.5 billion euros in 2008).

ALSO READ:

"SPECIAL – Greece, a challenge for Europe

"SPECIAL – Europe, the state facing bankruptcy

The European financial aid to Ireland, which would be discussed would be for an amount between 45 and 90 billion euros, depending on whether or not Dublin will need to support its banking sector, it was reported Saturday in Brussels source close to the area euro.L Ireland has not formally requested assistance from the EU, but sources indicated Friday that discussions about such an eventuality were already underway.

While the European Commission and Ireland have sought in recent days to reassure the markets, according to some newspapers, including the German Welt am Sonntag, Spain and Portugal would push for the establishment of a plan rescue of about € 70 billion, similar to 110 billion set in May in Greece by the European Union and the International Monetary Fund.

The Wall Street Journal, the Europeans want to be proactive to avoid finding themselves cornered as with Greece in the spring. Because the risk of contagion occurs again.

On Thursday, rates on government bonds to 10 years Ireland have reached almost 9% and the Portuguese have exceeded 7% in both cases of never-seen since the country's entry into the eurozone. Spanish and Italian rates were also found under pressure. The bond market experienced a lull on Friday, but nobody knows for how long.

The Finance Ministers should therefore take up the issue during a meeting Tuesday in Brussels at the level of the euro area, then Wednesday to that of the EU.

Alcatel-Lucent, Vallourec are two of ten companies and institutions that have signed on Friday in the seat of the MEDEF, Paris, new contracts with Chinese groups on the second day of the visit of Chinese President Hu Jintao. The French subsidiary of Rolls-Royce Civil Nuclear, the company Sino-French Economic Development Chateauroux Genopole, Alstom Power Systems, Erasteel also announced agreements.

"The climate is good. Chinese and French have expressed their willingness to work together. They share many common analysis of the G20 a few days, "says Jean-Pascal Tricoire, President of the France-China and CEO of Schneider Electric.

Several contracts have to SMEs. "I've already been there a dozen times in China.We signed a contract for one million euros with a large Chinese group to distribute our wines, "said Claude Fournier, president of Fournier father and son (50 employees, 12 million euros of turnover) based in Sancerre.

Chamber of Commerce of Paris has signed an agreement to enable SMEs to expand their operations in China with the support of Chinese giant Huawei Telecommunications. Although France is the second European exporter to China after Germany, Christine Lagarde, Minister of Economy, who attended the book signing in the presence of Chinese Minister of Commerce Chen Deming, noted that the trade deficit racked with China.

Investments up

"We're not necessarily very proud when we look at our trade deficit with China is first with 22 billion euros," she said.While advocating "respect for intellectual property" and "equality of treatment between Chinese and French companies," Christine Lagarde defended "a sustained economic relationship based on friendship and the requirement."

While French investments grew 11% in China in 2009, she wanted to see closer cooperation between French and Chinese companies in sustainable development, finance and agribusiness. "The contracts are important. But the orders received each day 4 000 French companies operating in China are equally important, "says Jean-Pascal Tricoire.

ALSO READ:

More than 20 billion dollars in contracts with China

Ten days after the surprise announcement of LVMH's entry to its capital, with 17.1% share, Hermes out of his reserve. The heir Bertrand Puech, a descendant of the founder to the fifth-generation company president Émile Hermès family (sole general partner of Hermes International), and the boss Patrick Thomas, manager of the group, rising strongly against the operation.

LE FIGARO. – How did you react at the entrance to the capital of LVMH Hermes revealed ten days ago?

Patrick Thomas. – It was a big surprise. LVMH has announced a sudden a stake of 17% calling it "friendly." This arrival was nothing friendly. It was neither requested nor desired. There was no threat of capital investment, luxury manufacturer or group seeking to buy Chinese shares Hermes, LVMH as has been claimed.

Bertrand Puech. – Surprise and displeasure.I received the call from Mr. Arnault to 9: 45 pm while I was taking a train and left his press release at noon.

What did he say?

PB – He said that shares were sold, he had bought for 14.2%, it would increase its participation and it was quite friendly, it does not require seat supervisory board.

Have you encountered?

BP – Yes, the following Monday. It was a courteous and frank encounter.

P. T. – We said that we did not consider this intervention as friendly.

How do you work with who is now your single largest shareholder?

P. T. – The fact that a shareholder has 17% of our capital will not change the culture and way of doing this house. Hermes did not absolutely need help, support or guardian, contrary to what Mr. Arnault.Besides, if you look at the performance since our IPO in 1993, the annual growth of LVMH's net income was 7.6%, that of Hermes by 14.7%. In exchange, the LVMH share was multiplied by six, that of Hermes by 35. If someone needs help, it is rather the other way. Hermes is going very well, better than LVMH, Hermes and is locked.

The means for acquiring the 17% you seem they comply with regulations?

P. T. – We ask many questions. There is a particular market regulations which aim to protect minority shareholders. Now a group is able to, via financial products, 17% or two thirds of the floating point without crossing any threshold. One can only wonder.When we see the structures that were used to conduct this attack, we see that are subsidiaries of LVMH based in Luxembourg, the United States and especially in Panama, which is not the most transparent country in terms financial regulation and origin of funds. Hermes can only do one thing: trust the AMF must say that if the transaction complies with the regulations or not.

What do you think that Bernard Arnault come to you?

P. T. – Bernard Arnault has never hidden its interest in Hermes. That's the issue, the rest is art. Gold Hermès, this is not a corporation, not a signature, it is a cultural soil in which grow the flowers of each season fast payday loans creativity. It's a great legacy, a craft culture, a tradition of respect for people and materials, a very complex chemistry.This culture is hardly compatible with that of a large group. This is not a financial struggle is a struggle of cultures. Obviously we could double profits within five years of Hermes, Hermes, but would die slowly.

PB – We are artisans, our goal is to make products the best in the world. We are not in luxury, we are in quality.

Do you fear a rise in the capital of LVMH, or even a takeover later?

P. T. – It is very likely that rising capital, I do not know his intentions.But the Hermes family is extremely close-knit and determined to keep control of its sponsorship, which was created to protect the house against the possibility of what is happening today and especially to protect the culture of this jewel built for six generations .

What proportion of capital held by the family heirs they now?

PT – At the last general meeting in May was 73%. This figure is changing somewhat as some permanently sell units, others are buying.

Some people have recently sold shares?

PB – Nothing significant, nothing to Mr. Arnault. If someone sold it to Mr. Arnault is indirectly, unknowingly. He surely made friendly approaches but nobody has assigned shares.

Some heirs could they not be tempted to sell when the stock price reached record levels?

BP – No.Sale to invest in what? We know what's best is Hermes. The action was worth 5 euros to the IPO, it reached 200 euros last week.

Are you bound by shareholder agreements?

BP – We have a series of pacts. And our best defense is limited: even if it remained a family shareholder, he would retain control.

The death in May of former leader Jean-Louis Dumas, introduced as the backbone of the family unit, he weakened?

BP – No. Jean-Louis Dumas had been ill for several years and no longer occurred since 2006. It cemented the family. Everything he did, he did so because the family was there.

Hermes can it remain an independent family business to the sixth generation?

BP- At the sixth generation, no doubt, and the seventh also, I'm sure they have that vision. Generations pass, Hermes remains.

Who will succeed Patrick Thomas and when?

BP – It is not intended to replace Thomas.

PT – I am here to serve the house, everything I do, I'll do it for her.

Do you think that Bernard Arnault will one day control of Hermes?

BP – I do not think so. We've been inundated with messages of loving support. I think Mr. Arnault has launched a financial battle that goes next to us. It is a great financier, but it has not always been successful. We want to be very courteous. The family says it clearly and unanimously: "If you want to be friendly, Mr. Arnault, you must withdraw."

ALSO READ:

"Hermes" is not for sale "

"Hermes rallied against the arrival of Bernard Arnault

Head-on near the end of the golden age of top-hat and golden parachutes (ie indemintés departure)? Anyway, the members have not been complacent with regard to entrepreneurs. When examining the draft budget law for 2011, they have indeed limited the amount of top-hat 30% of the amount of compensation for the last fiscal year. This is the first time such a decision is written into law. "This is a good start. This decision will at least end the excessive pay of some presidents of CAC 40 companies, "says Cyril Bellanger, an analyst at Proxinvest, a company specializing in issues of governance.

According to reference materials of their respective companies, pensions cap Franck Riboud, CEO of Danone and Benoît Potier, Chairman and CEO of Air Liquide, were respectively 65% and 39% of the amount of compensation for the last fiscal year .

A flaw in the AFEP-MEDEF

Members are therefore went against the advice of the Minister of Budget, Baroin, contrary to the maintenance of the tax shield and the tax on capital cash till payday. "We believe the economic environment has put in place safeguards," said Baroin, referring to the code of ethics AFEP-MEDEF implemented by employers in 2009.

An amendment will also reduce severance pay "double the highest severance benefits provided in case of dismissal by enterprise agreements or limb."In this area, members will have complied with the AFEP-MEDEF, which limits the amount to the equivalent of two years' pay. "This decision does not change much, since it is very rare that companies go beyond this bar," says Cyril Bellanger. For the analyst, however this poses another problem. "Some companies could link the severance contract of employment and not to corporate office of the president. In this case, the limit would be exceeded 24 months, "he adds.

"We must remove the top-hat"

For Baroin, these compensation elements feed "the competitiveness of enterprises to attract the best subjects."A position reminiscent of the defense adopted earlier this year by Henri Proglio, who earned two fees: the Chairman of EDF and the Chairman of the Board of Directors of Veolia (which he eventually renounced). The public was also shocked to learn that his retirement Veolia, composed of retired Safely Agirc-Arrco, a defined contribution retirement pensions and two hats. "I'm not sure that pension schemes loyalty group chairmen. Some are lured by greed as Antoine Zacharias (former CEO of Vinci), but I remain convinced that others are attached to their business, "says Cyril Bellanger.The prosecutor in Nanterre had requested in March last two years suspended sentence against the former CEO of Vinci, accused of abuse of corporate assets for its financial benefits received between 2004 and 2006 Cash Until Payday .

The argument has convinced Baroin neither left nor right. Adopted by 27 votes against 24, with the support of left-wing, this amendment was proposed by the Rapporteur-General of Budget, the UMP, Gilles Carrez and the New Center. On the left, this decision makes him smile. "The two amendments re legislative proposals that we made in October 2009. At the time we were told it was silly, "said Christian Eckert, MP PS. Other Socialist deputies go even further. "We must remove the top-hat.We will vote this amendment because it goes in the right direction but there is still some way to go, "said MP Jean-Pierre Brard PCF. Cyrille Bellanger, "given the salary (fixed and bonus) through a pattern of ACC 40, which was approximately $ 2.3 million in 2008 and is expected to be similar in 2009, we believe it did not necessarily need a retirement-hat, "he concludes. Will it be next? Stay tuned …

For the third quarter of 2010, Schneider Electric is returning to a pre-crisis dynamism. Areva Distribution, recently built, contributed largely to the swelling of the quarterly activity since this entity represents 12% of sales. But outside Areva, quarterly growth increased by 11.9% to $ 5.446 billion euros. In the first nine months of the year, the group speaks in its release of "record sales" at 14 billion euros.

"We have not quite erased the crisis, grade Emmanuel Babeau, chief financial officer of Schneider Electric, interviewed on BFM Radio this morning. "Emerging markets are well above pre-crisis figures, while developed countries are still behind."

All activities of the group returned to growth this quarter.IT Industry activities and continue their double-digit growth while the divisions and Power Buildings confirm their recovery.

Acquired in June, the subsidiary of French nuclear group distribution realizes for the June-September period, a turnover of 629 million euros.

Soon combined with the current average voltage to form Schneider Electric's Energy division of the group, it is, according to the statement, "it is on track to achieve the target of 1.1 billion euros in turnover business for the period June to December. "

Strengthening Russia

Following the presentation of its quarterly revenue, Schneider Electric has announced the acquisition of 50% stake ElectroShield-TM Samara, leader of the average power in Russia, about 265 million euros, or about 1 3 times the expected turnover for 2010.Subject to certain conditions and approvals, Schneider Electric would get the remaining 50% to similar financial terms.

Crochon Michel, Director General of the Energy Division of Schneider Electric, said: "This acquisition confirms our ambition to Russia, and allows us to expand our regional presence in line with our strategy to become a leader in the emerging economies.

In Western Europe and North America, sales increased by 11 and 6% from last year. An increase in part due to a favorable base effect, but not only. "In these countries, renewable energy is for us a new pocket of growth," said Emmanuel Babeau on BFM Radio.It is an activity that did not exist in our portfolio there are still three years "

The objectives identified

About its prospects, the group is optimistic. It provides, for the second half, a further resumption of Industry and Buildings. Geographically, it builds on the momentum of emerging economies but warned that the recovery mature markets expected to remain slow.

Finally, and most importantly, Schneider Electric has decided to raise its targets for 2010. He expects strong growth for the second half and an operating margin of between 15.5 and 16% for the full year.