World News – International Headlines, Stories

The year 2011 will be marked by beauty "jolts", it should nevertheless result in an increase of 2.1%, according to forecasts released yesterday by INSEE. A figure that – even if it is the thickness of the line – is widely expected to satisfy the government, including the forecast for this year is 2%. It is rare that the institute of statistics is more optimistic than Bercy!

This year has been marked by "shock," said he notes in the introduction of its quarterly. The first months left on the ground running, with a 1% growth in first quarter – "supported in part by exceptional factors, including the effects of catch-up following the strike last fall," and a phenomenon stock, is the INSEE.Industrial production was then greatly accelerated.

This is another backlash that explains the strong slowdown in the spring: the end of the scrapping a car that plunged household consumption, in the face of any support in the international environment.

But after that, the momentum for two years and would resume its place in the third and fourth quarters, growth would return to a rate of 0.5%. Households would resume eating, companies continue to invest and trade would not weigh on growth.

Peak inflation to 2.5% in October

In this context, improving on the employment front would continue. Job creation in the private sector would be of about 106,000 in the first half, then 73,000 the second 100% free credit score.The unemployment rate should fall back and to 9% in mainland France by the end of the year, "still above its pre-crisis", said Insee, however. This improvement, along with higher wages, could have played very positively on the wallets of the French. Especially since the Insee estimated that 1 billion the amount that could be injected by companies to employees by the end of the year (an amount that does not damage their margin, the precise INSEE) for the "premium against dividend" – a device that must still be approved by the Senate.

But did not count on the rise in inflation resulting from higher commodity prices. In October, a peak would be reached, with inflation reaching 2.5% year on year.As a result, gains in purchasing power would be only "moderate" in 2011, and they increase by 1%, after 0.8% in 2010.

The savings rate, which had increased significantly during the crisis, should remain at a high level, 16%.

Insee warns in conclusion that several uncertainties surrounding this scenario. On the negative side, the weakness of the U.S. economy could be more sustainable envisioned the restoration of the Japanese economy may be slower. Conversely, "face to improve the labor market, the French could break with the precautionary behavior they adopted during the crisis," and consumption grow more strongly than anticipated.

From our correspondent in India.

Christine Lagarde has just arrived on Tuesday, June 7 at Delhi where she will try to convince Indian officials that while emerging markets are booming, it is best placed to her, the European, to replace Dominique Strauss-Kahn the head of the International Monetary Fund (IMF). The French Minister of Economy, Finance and Industry will meet with Pranab Mukherjee, his counterpart of Finance and Prime Minister Manmohan Singh. It should also meet with Montek Singh Ahluwalia, Deputy Chairman of the Commission Plan. It is no coincidence. There are a few more days, Ahluwalia had been presented as a potential candidate from India. And why not, BRICS, the bloc of emerging economies that account Brazil, Russia, India, China and South Africa. Then the rumors were silenced.Officially, Montek Singh Ahluwalia would have exceeded the age limit for a candidate. In fact, Delhi has decided not to enter the race.

Paradoxically, India does not seem interested in carrying the "Battle of the IMF." "There is no shortage of leading economists, diplomats and scholars of talent that could be good candidates. And since the World Bank president has always been an American and a European director of the IMF, it would be logical to try to persuade the fund to elect now a candidate from a developing country, whose influence on the global economy is growing, "protested Anant Goenka, an economics professor.He continues: "Why this silence as China, Brazil and South Africa are on the frontlines demand a change?"

The positions are changing in India

Defeatist, India? "You can say so, but the silence of Delhi shows that Indians are particularly realistic in this matter," says BL Pandit, director of the Delhi School of Economics. It is not a democratic election, the contribution of India to the IMF's reserves is not very high, and finally, everyone here thinks that games are made and, again, the position go to a European. " He acknowledged however that "things are changing rapidly" and that growth is changing latitudes, "it might be that the leaders of the Western world are considering share positions in international forums."

At the last summit of BRICS in China last April, India had not been left to demand a reform of the Bretton Woods for emerging countries. In late May, when Dominique Strauss-Kahn had resigned, Manmohan Singh, who was visiting Addis Ababa, had stormed: "Reform of the Bretton-Woods is a priority for developing countries." He has since changed his tune. On the occasion of the visit of German Chancellor Angela Merkel in late May, the leader of the Indian government said: "A prestigious position must go to the best candidate, regardless of nationality."

ALSO READ:

"The chances of the IMF are confirmed Lagarde

"IMF Attractiveness: Lagarde

"The emerging campaign for one of their own to head the IMF

»COMPUTER GRAPHICS – The possible candidates to head the IMF

The General Assembly of shareholders of Parmalat, 12 April looks tense. While the rise in the dairy group Lactalis trans caused a stir in Italy, the company headed by Emmanuel Besnier announcement having captured 29% stake in Parmalat.

Holding 11.42% last week and 13.67% on Monday, Lactalis has indeed reached an agreement with three foreign investment funds Zenit Asset Management AB, Skagen AS and Mackenzie Financial Corporation to redeem their participation by 15.3% . According to the Italian press, the three shareholders would be fiercely opposed to the current chairman, Enrico Bondi, he intends to land.

Anyway, Lactalis is more than ever the majority shareholder of Parmalat.And although the group Laval did not intend to hold more than 30% of Parmalat, which would have to launch a takeover bid in the Italian securities laws, this absolutely does not like the Italian government and in particular Economy Minister Giulio Tremonti. The latter intends to take measures to defend domestic firms when they are considered "strategic."

Italy wants to counter Lactalis

To block the road to Lactalis and funds, the Italian government said "very favorable" to an alliance of investors across the country.Intesa-San Paolo could be the pivot while the dairy group Granarolo and giant chocolate Ferrero (Nutella, Kinder) have expressed their interest.

After that LVMH has offered the jeweler Bulgari and EDF talks with Italian Edison shareholders to reach agreement on the control of Edison electrician, Italy could see another national treasure in the hands of French companies . Not to mention that Groupama would take a share of the holding Premafin and that the airline Alitalia is 25% owned by Air France KLM since 2009.

In this context, France's ambassador to Italy, Jean-Marc de La Sabliere, was received on Thursday by Minister of Economy Giulio Tremonti and Deputy Secretary of the Presidency Gianni Letta, the right-hand Silvio Berlusconi, to be informed of the position of Rome who wants the "rules of reciprocity."

The Central Directorate of Internal Intelligence (DCRI) said this morning that they found "no evidence of espionage" at Renault. Main elements of the investigation, "Swiss bank accounts" charged executives laid off have not been found by investigators. A source close to the investigation even mentions the possibility that Renault has received erroneous information. The account numbers provided in the private investigation were in fact erroneous. Similarly, the survey conducted by the Liechtenstein authorities on suspected accounts under the Renault affair did not work.

The argument weakens espionage. Yesterday, the manufacturer argued the trail of a "manipulation" before his lawyer back on these statements. But on Europe 1 this morning, Mr. John Reinhart said he was inconsistent "absolutely the word manipulation.We are not in that context, for the moment we have no information that contributes in one way or another to say that the original theory, that is to say espionage does not exist ", he argued.

However, this term manipulation was mentioned by the CEO of Renault itself. Patrick Pelata, had indicated during an interview Monday that Renault Matignon "considering now have been a victim of manipulation," says Liberation. Shortly after a spokesman stated that "if we (Renault, Ed) has been the victim of anything other than an attempted espionage, it may actually be a manipulation."

Renault evokes a "settling of accounts in-house"

The manufacturer suggests a settling of accounts internally.Libérationaffirme that Renault suspects that two of the three executives would not have accounts abroad and have been victims of an internal settling of accounts ". Redundant frames are suspected of having received bribes, kickbacks through bank accounts in Switzerland or Liechtenstein. The Chained Duck however recently revealed that two of the three executives have never had accounts in Switzerland. In contrast, "the manufacturer continues to the third suspect, probably Michel Balthazar, a member of the steering committee," according to Liberation free business cards.

The chairman of the Senate Finance Committee, Jean-Arthuis (UC), said on Canal + that "this case has taken on a mad and I am surprised that we have been able to bring such charges on allegations that apparently no 'had no basis.(…) These species settling of accounts within the company are also detrimental to (its) image, "he added.

Anyway, this episode could reinforce the defenders of the three top executives dismissed 2011A following an internal investigation following the sending of anonymous letters. Especially as the manufacturer would not be celebrating its first case of this type.

Renault had a similar case

Concordant sources, seized by the Paris prosecutor, investigators of the Central Intelligence Allowed (DCRI) will hear on Thursday a former executive of the group graduated in 2009 in similar conditions, Philippe Clogenson. The former marketing director said in the columns of Le Parisien, Aujourd'hui en France he was accused of "touching, through front companies, money paid on offshore accounts from suppliers of Renault.He believes he was unfairly accused of corruption.

"I was also told that there was evidence that the formal charges had been substantiated by the management group's safety," he said. Philippe Clogenson decided, like the three executives recently laid off, file a complaint for "malicious prosecution". Remains to be seen whether the testimony of Philip Clogenson allow the cons-French espionage to advance the investigation.

ALSO READ:

"The court will decide in eight days on Swiss accounts

"Espionage: The three managers complain Renault

"Espionage Renault: letter and empty shadow account

"Renault may have been trapped in house

"Espionage: Renault's number 2 at Matignon

Optimism is back this Friday on the Paris, following the CAC40 was in the red all week. The benchmark index in Paris opens up 0.48% at 4029.07 points. Yesterday, Thursday, despite a slight improvement, the index in Paris ended on a fourth session of declines, amid political tensions in Libya and soaring oil prices. Since the beginning of the week, the Paris index was down 3.55%, but reaching back to the symbolic 4,000 mark.

The trend is reversed so this morning's speech on OPEC's likely response in case of disruptions in oil supplies has restored color to the Asian stock markets. Yesterday's meeting was hesitant to Wall Street, but lower indices has been limited. The Nasdaq has even increased from 0.55% to 2738 points.

Even optimistic about other places Europen, the FTSE-100 index of London Stock Exchange gaining 0.28% during early trade, to 5936.29 points. For its part, the DAX index of the Frankfurt Stock Exchange advance more cautiously, 0.13% to 7139.88 points.

Little news on the macroeconomic front

So investors will keep their eyes fixed on the political situation in Libya and the risk of contagion to other challenges big oil producing countries. Side of macroeconomic publications, the news will remain limited.

Few significant indicators across the Atlantic on Friday set apart from the publication of the index from the University of Michigan on consumer confidence for the month of February (3:55 p.m.).

In France, INSEE published a fall in consumption of the French in January.Business failures for the month of September 2010 will be known at noon.

Side currency, the euro climbed against the greenback Friday, crossing the threshold of $ 1.38, supported by speculation about a rate hike from the European Central Bank next week to stem inflationary pressures, according to traders . At 8:00 in Paris, the euro bought 1.3821 dollars against 1.3797 dollars on Thursday night.

Pert EADS the contract of the century in favor of Boeing

CGG Veritas: 8.63%, to 25.86 euros

The oil services group announced Friday a net loss for the fourth quarter due to special charges related to its plan to improve profitability.The group is free cash flow positive 2011.Il said its industrial investments and multi-client should reach 600 million dollars in 2011.

EADS – 2.70%, to 20.21 euros

The aerospace manufacturer lost the tender for the delivery to the U.S. Air Force, 179 tanker aircraft, after the invalidation of the previous contract awarded in 2008. It was eventually awarded to rival Boeing, but the European manufacturer has 10 days to appeal on this contract of 35 billion dollars.

Thales: 0.79%, to 26.85 euros

Ten days after a profit warning, the specialist defense electronics, aerospace and security, has published annual results sealed by provisions amounted to 721 million euros related to contracts as underachievers 'Military Transport Aircraft

Saint-Gobain 3.57% to 42.23 euros.Largest increase in the CAC40

The building materials group aims to accelerate its organic growth this year, in line with the rebound in activity recorded in 2010, driven by industry demand and buoyant emerging markets. Its CEO, Pierre-Andre de Chalendar also put on a strategy of acquisitions more aggressively.

Valeo: + 5.39%, to 43.02 euros

The automotive supplier has returned to profitability in 2010 and resumed the payment of a dividend for the year past. He expects an improvement in its operating margin in 2011, driven by buoyant U.S. and Asian automotive markets.

Eiffage: 1.16%, to 40.82 euros

The company intends to renew growth in 2011 after a third consecutive year of stagnation in sales, concessions have yet to offset the sluggish construction.

Aeroports de Paris: 1.05%, to 63.46 euros

The group announced Thursday the results confromes expectations with growth of 5% of its Ebitda to 927 million euros in 2010. By 2015 it wants to increase by 40% in 2015 compared with 883 million registered in 2009. Its sales rose 4.0% to 2.739 billion euros in 2010 – despite an almost permanent traffic – and net income group share grew by 11.3% to 300 million.EPA anticipates a recovery significantly higher than expected air traffic in 2011 which should enable it to accelerate slightly the growth of its revenues and EBITDA.

Air Liquide: 0.44%, to 92.28 euros

The gas giant said Thursday night that a financial institution entrusted the mission to assist for the realization of part of its share repurchase program authorized by its shareholders last year, within a million titles.

Sanofi-Aventis: 0.28%, to 49.45 euros

The lab announced Thursday the approval and completion of the acquisition announced in October 2010, Chinese BMP Sunstone, for 520.6 million dollars ($ 10 per share). The transaction will allow it to create a platform for public health in China, strengthening its presence in emerging and non-prescription drugs, two of its major growth drivers.

After the close, the Bel cheese will also publish its annual turnover.

Met this week in Barcelona at Mobile World Congress, major mobile phone manufacturers have outlined what will be the year 2011, presenting their new products. Unsurprisingly, most attention has focused on smartphones, which should represent the majority of handset sales in France in 2011, according to projections by the GfK. More conventional phones were usually stored in corners, out of sight. Here's what can be learned from this series of ads.

The consecration of Google

Nothing stops Google in mobile. "There are 350,000 activations Android phones each day, 170-enabled devices, and 150,000 applications available," said Eric Schmidt, now at Barcelona.During the fair, the mascot of Android – a little "droid" apple green – was omnipresent and the stand of Google, with its slide, was among the attractions not to be missed. Android smartphones team as all the most sought-after Samsung S2 Galaxy, Sony Ericsson XPERIA 2, Atrix Motorola, LG 3D Optimus. Despite the lack of Apple, who shunned the event yet, the iPhone has nevertheless made about him, with rumors of leaving a smaller and cheaper.

Smartphones as powerful as a PC

As with PCs, the processor is a key issue for smartphones, and is now very high in the selling points of manufacturers. Display images in high definition or in three dimensions without slowing the phone in fact requires ever more powerful chips.During the show, Nvidia and Qualcomm fought a war from a distance, each claiming to have introduced the first quad-core chips for mobile devices. Motorola presented its side in Europe's Atrix, a smartphone that has the ambition to replace the PC. Once placed on a pedestal, the device connects to a TV and a keyboard, which lets you surf the Internet, write notes or see videos on the big screen as you would with a computer.

Everything for the game

Smartphones have nothing to envy the portable game consoles business card. In opening the show, Sony Ericsson unveiled the XPERIA play Sunday, a phone that incorporates the same buttons that control the joystick on the PlayStation. Fifty games will be available for launch in March, including the great classics of the first Sony console.For its part, LG has chosen to equip its new phone with a screen similar to that found on the Nintendo 3DS, capable of delivering 3D images without the need to wear special glasses. Four titles are optimized for 3D French publisher Gameloft, whose racing game Asphalt 6, will be delivered with the phone.

Faster and faster Internet

Such as PCs, smartphones will spend this year to Internet connections at very high speed. In France, mobile networks are not yet deployed, but abroad, including Japan and the United States, operators have taken the lead. NTT DoCoMo, ZTE, Alcatel-Lucent and Verizon offered during the fair test sessions on their stand of LTE (Long Term Evolution) 4G technology as the successor to 3G.Visitors could participate in the parts of multiplayer video games or conversations in high definition video.

Facebook encrusted in smartphones

Facebook already offers applications for most smartphones, including iPhone and Android. INQ HTC and went further, presenting him with his consent, the first phones with the colors of the social network. HTC Chacha and Salsa as well wear a button on their Facebook facade, which lets you share one click messages and photos with friends. They also combine the SIM card directory with the contact list on the site. Dozens of phones like this should appear in the coming months, said Mark Zuckerberg, Facebook founder.

ALSO READ:

"SPECIAL – Mobiles and shelves to face Barcelona

"INTERVIEW – Sony Ericsson:" Expanding the gaming market on mobile "

Sitting at the grim Paris Stock Exchange on Friday. After the day's bearish Thursday holiday, the CAC 40 fell 1.83% to 3796.61 points at the opening, very far of the 3900 hit points a week earlier, and especially in the technical threshold of 3860 points. Very quickly, the fall accelerated in early trade: the ACC lost 2.40% to 9.15 points at 3774.

In London, the FTSE follows the same path with a drop of 1.26% to 5742.12 points in early trade. In Germany, the Dax in Frankfurt lost 1.08% to 6650.92 points.

In a European context, the problems of sovereign debt of countries worried investors again. Ireland focuses particularly critical. The yield spread between ten-year bonds issued by the Irish and German Bunds reference reached Thursday a new record since the inception of the euro area, to 685 basis points.Ireland has held "very severe" this surge in borrowing costs.

This situation prompted the convening of a meeting of finance ministers from five European countries, including Germany and France on the sidelines of the G20 in Seoul. According to initial reports, the European Union is ready to respond, whatever the scenario of the financial crisis currently Ireland.

Moreover, leaders at the G20 talks in Seoul were completed on a final communiqué citing in particular the "war of currencies": "The G20 will take all measures, including fiscal consolidation, strengthen recovery, support growth and ensure stability of financial markets ".

This morning, Asian stock markets have all closed in the red.

French GDP in the consensus

As for macroeconomic announcements, the first estimate of French GDP in the third quarter market expectations. This ultimately up 0.4% when analysts expected a rise of 0.5%. The second quarter growth was confirmed at 0.7%. Christine Lagarde, this is "a good number that consolidates after entry into the crisis."

German GDP over the same period grew by 0.7%. The figure in the second quarter growth was also revised to 2.3% against 2.2% originally announced.

Growth in the euro area is also expected. Like the sentiment index for November condommateurs United States.

On the foreign exchange market before the opening, the euro appears still down against the greenback. The single currency traded against the dollar 1.3606 (-0.11%).

Vivendi and the bank mishandled

As for values, no title in the green in early morning.

The banking sector still manhandled Thursday, always reacts badly to Irish concerns. Societe Generale (-3.59% to 40.41 euros), Credit Agricole (-2.94% to 11.05 euros) and BNP Paribas (-2.70% to 51.25 euros) in the red.

France Telecom (-1.21% to 16.73 euros) hopes to forge a partnership for its chain of televison Orange Cinema with Canal + (Vivendi), but an agreement is not reached before the end of the second half of 2011. The group also announced that he wanted acorde more attention to Africa. Vivendi is the laggard of the CAC: -3.67% to 19.81 euros. The group is also affected by a new mediated by the Tribune on Friday, citing the loss by the media group of its favorable tax regime in late 2011.

EADS (-2.39% to 18.65 euros) on Friday announced a return to the green in the third quarter with a net profit of 13 million euros, against a loss of 87 million euros a year earlier. The group raised its annual forecast of earnings in a more positive in commercial aviation. In addition, the subsidiary Airbus would prepare a warning on a global electronic problem that can lead to discontinuation of its testers single-aisle aircraft, according to the Wall Street Journal.Un group leader also spoke of the incident A380 Qantas airline stating that it would impact on deliveries.

Richemont has released for the first half of its fiscal year offset a net profit up 87% to 644 million euros against 344 million a year ago. That is more than the 546 million expected by the markets.The luxury sector is not receiving the good news in the current context: LVMH lost 2.50% to 114.90%.

Poweo (-2.41% to 7.29 euros) prepares to leave the mass market even before the reform of the electricity market is completed, according to Les Echos on Friday, which confirms the failure of market liberalization. EDF (-1.08% to 32.18 euros) is not benefiting.

In an interview with Le Figaro on Friday, Jean-Cyril Spinetta, chairman of the board of directors of Air France-KLM (-1.26% to 12.88 euros) is concerned about the rise of Emirates airline.

Also in the Figaro, the boss of Sodexo (-1.37% to 46.39 euros), Michel Landel, said that "the group runs through the crisis."

1. MACRO ECONOMIC COORDINATION: To be continued …

The G20 has agreed to make concerted fiscal stimulus to London to avoid depression. It was a success. In Toronto, the G20 has endorsed the post-crisis differentiated, giving the green light to the rigor in Europe, without preventing the widening deficits in the United States. But macroeconomic coordination tightly decided in Pittsburgh, with a communication to the G20 economic policies proposed by different countries, and monitoring of targets by the IMF, has remained a dead letter. The United States hopes to rehabilitate, Seoul, through close monitoring of current account imbalances.

2. REFORM OF IMF AND WORLD BANK: Acquired

Emerging markets have gained representation in the IMF and World Bank.The IMF Board approved on November 5 the doubling of the voting rights of China (2.9% to 6.1% of total) and increased voice of India and Brazil . The United States, France and Britain have agreed to reduce their quota shares. The reform will take effect in late 2012. The IMF will also double its resources to reach 534 billion euros, a decision taken in London G20. Reforming the World Bank endorsed the G20 Toronto, will see emerging and developing win votes 3.13% to 47%. The boss of the Bank, Robert Zoellick, called for 50%.

3.BANKING REGULATION: Basel IIII will be endorsed in Seoul

Ten years to draft prudential standards called Basel II, two years to give birth to Basel III: Angela Merkel does not fail to recall the enormous work done by regulators to increase the quality and quantity of bank capital – 2% to 7% – while creating a liquidity ratio and debt saving account payday loan. Two questions remain daunting. First, if Europe has promised to implement these rules, the question remains as regards the United States. Then the debate is raging over whether or not to require from the systemic institutions even more capital. A topic for Seoul and 2011.

4. BONUS HEDGE FUNDS: Better boxes

Bankers overpaid. It was one of the priorities of the G20 in London. On this point, Europe has made great progress.Too even consider European banks who feel disadvantaged relative to their American or Asian. The bonus cap was passed by the European Parliament and the Committee of European Banking Supervisors board for accelerated reform on 1 January 2011. A tax on the bonus was introduced in Paris, London and Frankfurt. The United States themselves are content to "frame" bonuses without taxation. They chose to monitor the activities of hedge funds by limiting the amounts that banks can invest, while Europe has decided to submit to authority.

5. TAX HAVEN: monitored

The G20 in London marked the departure of the great crusade against tax havens, led by Paris, Berlin and Washington, which in turn sway the strongholds of bank secrecy.Switzerland, Austria, Monaco, Liechtenstein … decided to comply with the OECD standard on exchange of tax information. Result, a year and a half later, the list of uncooperative jurisdictions OECD now has only ten small countries. More than 600 bilateral agreements were signed and the French-Swiss tax treaty enters into force in January. States have also initiated through the Global Forum on transparency of the OECD, a process of peer review of progress, which must be completed by end 2011.

Listing your eviction from the presidency of Accor, following a Board of Directors held on Tuesday evening, surprised. What happened?

It has been five years since I head Accor. I quickfire transformation and today the group is riding superbly on the wave of recovery. But a leader needs to be supported by its major shareholders and its board of directors. Differences emerged. After a moment, as a couple, you wonder if it is worthwhile to continue together or if not better to hand. I am a free man. Today I return to my freedom. It is healthy to change drivers when everything goes well.

Long time, you spoke against the division of Accor, Colony and desired by Eurazeo, before you accept this idea.What are you talking about policy differences?

In 2005 and 2006, I said that a split was not desirable because the business services group (Ticket Restaurant), now grouped in Edenred was too small. In 2009, after fifteen acquisitions, we have doubled the size of the company and I proposed the split board. The strategic differences relate to an accumulation of small things, such as disagreements on priorities for development, external growth strategy, marketing strategy, information technology … But a leader needs to have a free mind to move forward, feel its board lined up behind him.

In 2005 I made the bet to be working with Colony. I was the man for the job for five years. I learned to work with the obligations and duties. But in five years, we change.I could have fought to continue but I had a mixed support from the board no faxing 1 hour payday loans. I felt it was perhaps better that I move on by mutual agreement with the board. In my heart, I did not necessarily want to go too fast, I could stay a year or two longer.

What mood are you?

I am very sad because very attached to this group and its teams. My grandfather gave to my uncle's first capital to create the company. But after five years as head of Accor, where I spent twelve years before I left the band head high. I am proud of what I did. In 2009, the crisis has been a difficult time to live. That said, I leave behind me a group with a substantial property portfolio, which will be debt free in two years and had all the indicators are in green.I go without a power vacuum because I had the opportunity in 2009 to provide the Board Denis Hennequin, who succeeds me.

On leaving, do you have any regrets?

The development model we have chosen, with an acceleration of the franchise disposals and wall is good. I wanted to keep Sofitel, we have kept and successfully repositioned. It remains a challenge for the group: Motel 6 in the U.S., where the market is very difficult.

Today, what are your plans?

I have some entrepreneurial projects. I will see my family more often and take a step back. I give myself time. I've changed jobs several times in my career. I believe in my lucky star.

One thing is for sure, I want to continue to sell products which I am proud.The more I advance in life, I attach more importance to shareholders and the teams with whom I work.

ALSO READ:

"Pelisson replaced by the boss of McDonald's Europe

A symbol: In 2010, Bill Gates has been dethroned to the rank of richest man in the world by Mexican Carlos Slim, owner of America Movil Group Telecom, number 4 global telecom, behind China Mobile, Vodafone and Telefonica.

A landmark achievement of this generation of emerging entrepreneurs who have created a few years of real telecom empires.

Blithely exceeding the 100 million customers, these operators are ultra-profitable wealth of their founders, who have become stars in their country, the more respected they multiply their good works through charitable foundations.

The whole success story of Indian Sunil Mittal and Anil Ambani, founder of Bharti respectively and Reliance Communications, the Egyptian Naguib Sawiris with Orascom Telecom, the Russian Vladimir Yevtushenkov with MTS … Young, educated in top universities worldwide, cosmopolitan, uninhibited and pragmatic, they have nothing to envy the Europeans.

They are self-made man or that their father had set foot in the stirrup, all are hard workers."Naguib Sawiris works 18 hours a day, lives in the tower where he has his business. Whatever time of day or night when he sends a presentation, he answers within the hour. I've never seen it! "Says one admiring banker.

Their groups are often large family conglomerates, present in various sectors ranging from energy distribution through the MGB. But they all sensed the importance of mobile phones in countries where fixed networks were virtually absent. Lighter and cheaper, the mobile computer competition in these countries and became one of the pillars of economic development. No wonder the mobile operator is often the jewel of their empire.

Charges $ 5 per month

All are present in countries where purchasing power is low. But from Cairo to Mexico, via Delhi, the mobile phone is everywhere in the streets.Each time, the economic model is the same: volume compensates for the low price.

In India, the average monthly bill is about $ 5 per customer. In Africa, it varies across countries between 5 and 12 dollars. By comparison, it is 50 dollars on average in France.

Yet despite these low revenue per customer, these new telecom giants manage to get a better return than European operators. Thus, the gross operating surplus of the Indian Bharti is around 41% against 35% for Orange and Vodafone.

This tour de force based on a complete cost control. While in Europe, operators are investing billions to build their networks in India, Bharti and Reliance have made a choice contrary, by outsourcing their networks to equipment manufacturers. This allows them to reduce their costs by paying only for the capacity they use.Secondly, they have also outsourced customer services. Third, they often adopted a smart charging with very low prices on SMS and higher on voice calls. This led to a movement towards alternative text, which even with low rates, remain far more profitable for the operator.

In the end, where a customer is $ 200 per year to a European operator, it costs $ 100 in Africa and 45 in India. A ratio of 1 to 4.

Finally, cost control is a logic almost entered into the DNA of these family groups, which are known to manage its own money, a penny saved is a penny. Thus, in the empire of Carlos Slim, the group's companies are run like small businesses.Everything is done to ensure that money does not group the different branches as soon as possible as customers or suppliers of each other.

Success and Legitimacy

While their operators run at full capacity, these men, mostly young, have not said their last word. After becoming leaders in their countries, they seek to leave their borders. Two weeks ago, Russian VimpleCom announced the acquisition of 51% of Orascom Telecom for EUR 5 billion. India's Bharti, after failing twice to merge with the powerful South African MTN Group, has acquired the African subsidiaries of the group Kuwait Zain coveted. The French company Vivendi, which was also in the running, had dropped compared with 8 billion euros to pay. More than the financial success of their group, their history gives them a free hand to go further."When Mittal announced the acquisition of Zain, the stock price has plunged. It was enough that he spoke to analysts, without giving any financial details, but in explaining his vision, to go back in, "says a banker. Because his success gives him unquestioned legitimacy. "

Carlos Slim