The market turmoil and the records set by some works have led some dreaming. Why not investirdans paintings or sculptures? The art has never earned as much as in 2011. "It can be a significant element of personal wealth," said HSBC, which helps clients in their purchases and sales based on the consulting firm in 1858. The art market is tempting, but it is not without pitfalls because it is neither transparent nor regulated. Besides the auction, private sales by galleries or OTC account for over half the market. "There has never been so many opportunities to lose a lot of money," says Celine Fressart, consultant in 1858.

A major work of a minor artist rather than vice versa

The experts also keep well to advise their clients to buy this or that work because it will be a good investment. There is no guarantee that prices will rise, he must first find the artists and works that please the customer. "Any investment must first be done with the eyes, but the reason is needed to avoid costly errors, "warns Fressart Celine, who says not recommended nine times out of ten customers a purchase because often too high a price oud'un doubt about the origin. She advises particular caution on Internet sales. And remember that we should not buy art not representative of an artist. "Better to buy a major work of a minor artist than the reverse."

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Five months after the sinking of Concordia, Costa Cruises ship owner wants to turn the page by launching a new ship, the Fascinosa, luxurious building 290 meters long, up to and seventeen bridges capable of carrying 3800 passengers. Some 510 million euros have been invested to build the fleet of the fifteenth unit in Fincantieri shipyards in Marghera group, deep in the Venice lagoon. His baptism, Saturday, resulting in a ceremony dominated by the desire to forget a tragedy that, as the CEO of Costa Crociere – the Italian name of the company – Pierluigi Foschi, "would never have happened and did again ".

Foschi, who forsake the end of July the operational management group, at age 65, to remain president, attributed the sinking "only to human error," that is reckless navigation of captain Francesco Schettino, still under house arrest pending trial. "Our company is cooperating fully with the law, provides the CEO with Le Figaro. The survey should be completed in October-November. But now, Costa has significantly strengthened the security systems on its vessels. "

Seven measures were adopted, the training of crew in lifeboat drills, now imposed on all passengers before departure. A satellite tracking will allow the monitoring center of Genoa at any time to know the exact position of each ship and to correct any unexpected change of course.

Bookings up

Regarding compensation for 4205 persons on board the Concordia, the CEO says the problem of the crew is set. "Two thirds of the 3,216 passengers took up the offer of the company (14,000 euros per passenger). Remains third with which legal disputes are open in various countries. The impact of such compensation will be minimal on the accounts of the company. They will be supported by our insurers. "Compensation for relatives of 32 victims is the subject of a separate chapter.

The drama was not a result of extended commercial for Costa. "After an initial drop, cruise bookings have resumed at a rate greater than 2011. Of course, we had to cut prices because of the crisis too. Twenty million passengers go on a cruise every year. Accidents are the exception, "insists CEO.

The wreck remains. The 2,200 tons of fuel were pumped in 31 days without any pollution. Last week, Costa Cruises has signed a contract with a consortium of Italian-American, and Titan Salvage Micoperi, to redress the huge carcass beached at the island of Giglio and tan up a shipyard in Livorno. "We are given twelve months to do this but we hope to do before winter. Never do such a rescue was attempted in the world. It is a daunting challenge … ", says CEO.

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Not enough to reassure employees. Geodis, one buyer competing Sernam, does not seem hostile to the event of liquidation of the carrier into bankruptcy. In an interview with Journal du Dimanche (JDD), CEO of Geodis seems to slow down the four irons to the assumption of a recovery.

So he must know Tuesday whether to uphold or cancel its offer, it considers, in the JDD, the financial position of Sernam concern. It is "the worst expected. Some customers have gone to competition, contractors are concerned, important collaborators have left the company … The ministries concerned have known this for a year, "says Pierre Blayau the JDD.  

The CEO of the subsidiary of SNCF freight maintains he has always matched its takeover offer on two conditions: neither nor Geodis Sernam should only be considered by Brussels as the person paying the € 642 million illegal aid paid to Sernam by the station when it was privatized. Wednesday, Brussels has actually leaned in this direction, at the request of French authorities.

The second condition relates to the viability of Sernam. "Everyone seems to have forgotten. But today, we have no guarantee that this condition is met, "says Pierre Blayau. Earlier in the week, he lamented that "half of the turnover of Sernam has evaporated in recent weeks." The carrier's management denies.

Do not "dramatize" the liquidation

The CEO of Geodis had already held this speech to the unions, now pessimistic. "It made us realize that it will not be able to maintain its offer," said Alain told AFP Wednesday Delpuech CGT Sernam, emerging from a meeting with the boss of Geodis. FO Transport, meanwhile, also anticipating an into liquidation by the Sernam commercial court of Nanterre Tuesday.

Assumption that Pierre Blayau seeks, in the JDD, to dramatize. In the event of liquidation, the SNCF and Geodis will be in his able to reclassify one thousand employees employed on Sernam 1441, while the partial takeover offer for Geodis provides for the continuation of that about 800 jobs.

A round table organized at the end of March by the Ministry of Transport also sought to identify sector companies likely to make other offers of reassignment. "So do not dramatize this scenario," said Pierre Blayau. The unions, meanwhile, are not of that opinion. "What will the retail positions, what are the conditions of employment, which will be taken?" Worries Alain Delpuech. All have in mind the example of SeaFrance.

Vinci was an equal disappointment. Two weeks ago, the leading European construction and concessions had been anticipated in extremis by ADP to regain 38% of TAV which manages ten airports in Turkey. An operation of over 700 million euros. Tuesday, the group cons-attacked on another front. In partnership with 50/50 with the British operator of BTP St Modwen, he won a huge contract of 2 billion pounds (2.4 billion euros). He trumped consortium formed by Bouygues and Carlyle.

For that price, Vinci and his partner will rebuild New Covent Garden, London halls hosting a market fruit, vegetables and flowers. Like its French cousin who migrated from Paris to Rungis, Covent Garden has left the center of London there are over 30 years to settle south of the Thames, in the district of Nine Elms on 230,000 m². In addition to A to Z redo this building between 2013 and 2018, the group will build 2,800 homes but also office buildings and shops. All this with a financial Original: Vinci will invest 130 million pounds (156 million) to rebuild the New Covent Garden.

In return, it will be awarded to Vinci 8 hectares of land to enable it to develop a very large real estate transaction valued at 2.4 billion euros while.

Strong position in the UK

A credible plan for the neighborhood where he has developed is being completely remodeled for example, the U.S. embassy to move into a new building in 2017 and the construction of two new metro stations is considered easy payday loans.

This new contract demonstrates the strong position of Vinci in Britain. Last year, the group has achieved 5.6% of its turnover, slightly more than 2 billion euros. And the UK is the third country that weighs the heaviest in the group accounts. After France and Germany who preceded him as a short head. "Vinci spent the overdrive in this country since the acquisition of Taylor Woodrow in 2008, a large construction of which then realized a sales volume of 750 million euros," said one financial analyst. Because the group has grown significantly through acquisitions has integrated the subsidiary. Much like it did with Cegelec, Faceo or Tarmac.

The result? In recent months, Vinci has garnered several prestigious contracts in England. Thus, the group have won beginning March 1 public-private partnership to renovate and maintain for 25 years 432 km of roads in the London Borough. Transaction amount: 950 million euros. A month earlier, Vinci was selected to manage for five to ten years the road five English counties. All this for 1.7 billion euros. The French group had also been held last October to build two waste treatment centers in the UK for just over 380 million euros.

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Winter has succeeded in the spring. And there will be a long and rigorous. A year after their revolutions, the Southern Mediterranean countries are struggling to revive their economies and attract investors. "Basically, the region is divided between one side Morocco, whose economy increasingly resembles that of an emerging country, or Algeria, which is maintained by its raw energy, and across the country whose economy raises concerns and questions, "says Dov Zerah, CEO of the French Development Agency (AFD).

In Tunisia, Egypt or Jordan, the economic situation is worse than in 2011, threatening the stability of governments in place and risk being cast new popular upheavals. "We must grow by at least 5% to stabilize unemployment in the area and in all likelihood we will be well below 2012," said Amal Chevreau, project manager within IPEMED. "Even in Morocco, the expected initial increase of 6% of GDP have been revised downwards, mainly because of drought."

The panorama offered by Tunisia and Egypt is that of weak growth leading to a fall in tax revenues and widening budget deficits at a time when governments, yet fragile, can not cut public spending so as not to stifle their populations. After falling 1.8% in 2011, the Tunisian economy in 2012 still deals in the red. The current account deficit widened to 7.4% of GDP and the budget deficit well over 4% this year.  

"Holding back investors'

In Egypt, the situation is equally alarming: according to Alexis-Marchay Karklins, head of emerging from Ernst and Young, Egyptian growth to be between 1% and 1.5% this year, leading the deficit budget around 10% of GDP. Worse, foreign exchange reserves of the Central Bank of Egypt fell by more than half within a year from 36 billion in 2010 to 15,000,000,000 in late 2011. Bleeding that led the rating agency Fitch to downgrade the rating of Egypt to "BB-". Cairo is conducting difficult negotiations with the IMF for a loan of about $ 3.2 billion. Also to avoid having recourse to such an extreme, Tunis, meanwhile, quietly knocks on the door of international lenders to obtain loans.

But the real concern is the fall in investment. Uncertainties regarding the political situation of these countries has combined the brutal fiscal crisis through which Europe, which has significantly dried up the flow of capital available. According to figures compiled by Anima Investment Network, which need to be refined in the coming weeks, the number of investment projects fell by nearly 25% in 2011 in the 11 Southern Mediterranean countries. A heterogeneous block masking disparities since in alongside Algeria, Israel and Lebanon, which fell slightly in 2011 after a sharp rise in year 2010, there was a fall of 32% of investments in Tunisia and more than half in Egypt. In 2011, Libya has received only 17 external projects and Syria 14, mainly concentrated on the first part of 2011 before the country from tipping into civil war. In total, the area received about $ 28 billion of investments, amounts equivalent to those of 2009 – year of the international financial crisis.

The partnership of Deauville was not required

"The reluctance of investors is not the most worrying, says Emmanuel Noutary, déléguégénéral Anima Network. The problem is the types of projects which are mainly invested in recent years, and mainly relates to major infrastructure or energy to create less jobs than other sectors. "Typical example, the Gulf countries, realized an average investment of 500 million euros (40 million against an average for investors from other countries), while "the most urgent investments to create jobs related to smaller local projects around the food, education or industry. "

The anxiety is palpable as the next major donors. Symbol of the malaise surrounding the partnership of Deauville in May 2010 had promised to unlock $ 38 billion investment over 10 international financial institutions over the next three years. Less than half of these commitments have been met. Thus, the European Investment Bank (EIB), through its armed wing in the area, the FEMIP should provide 2.6 billion euros. It has not yet released a billion, of which 734 million euros to Morocco (a record for that country) but only 303 million euros to Tunisia.

"The view remains fragile in the short term, however, investors would be wrong to abandon the area," says Alexis Karklins-Marchay at Ernst and Young: "North Africa is the ideal gateway for Europeans in a continent will experience tremendous growth in the coming years. "Enthusiasm for the moment few donors really dare to share.

]]> http://parasiteevecentral.com/arab-countries-are-struggling-to-revive-their-economies/feed/ 0 http://parasiteevecentral.com/chinese-auto-manufacturers-are-moving-into-europe/ http://parasiteevecentral.com/chinese-auto-manufacturers-are-moving-into-europe/#comments Wed, 22 Feb 2012 10:52:05 +0000 admin http://parasiteevecentral.com/chinese-auto-manufacturers-are-moving-into-europe/  

Humiliated in 2007 by disastrous crash tests, Chinese automakers are trying their luck again in Europe. This time with more efficient models, they begin to produce locally. Great Wall, a major Chinese groups, inaugurated on Tuesday its first plant in Bulgaria on the Old Continent. Initially, it plans to sell its cars in Bulgaria and in neighboring countries. This will be the city Voleex and C10 pickup Steed 5, whose prices range from 8,200 to 12,800 euros. The site starts with 150 workers, which can produce 4,000 cars a year by assembling parts imported from China. Great Wall plans to go up to 50,000 vehicles per year and 2,000 workers. "We estimate that in three to five years, we have a variety of models produced here, and that these cars will be sold in all European countries", at "reasonable prices", said Wang Feng Ying, president of the group . The site could produce seven different models.

Great Wall is not the only Chinese to have set foot in Europe. In Italy, the former Fiat factory Sicilian was sold to Italian DR Motor, which assemble under its brand Chery models from kits imported from China. Chery also preparing, with the company Israel Corp.. the launch of a brand, Qoros, produced in China, but mainly for Europe. Goal: 150,000 sales per year in 2015-2016. In addition, SAIC, which acquired the brand MG Rover MG6 the product in the UK. As for Geely, which owns Volvo, he launched this year in Britain's E67 sedan, which, like the MG6, won 4 out of 5 stars in European crash tests.

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The bitter pill is for Alan Scott, the ophthalmologist at the origin of Botox. In an interview with Times of India, he confesses sincerely regret having sold the rights to the botulinum toxin in the laboratory Allergan in 1991 to U.S. $ 4.5 million (3.02 million). Millions of women, foremost among which the biggest stars of Hollywood-plébiscitent this miracle cure against wrinkles, but not only. "Botox is now used in 100 treatments, not including cosmetic surgery," said Alan Scott. "If I had hung on Botox, maybe I could have won $ 1 billion a year."

In fact, the success of Botox can not be denied. Its annual sales exceed one billion dollars blithely. And the crisis is nothing changed. David Pyott, Allergan's chairman, said in October to be "pleasantly surprised" to see that in Europe, demand has not waned, despite the difficult economic conditions. "Our products in some markets record double-digit increases, which makes me say that in these societies, the appearance has no price," he told the Financial Times. In the U.S., by contrast, sales growth slowed slightly Botox in the second half of 2011.

Of erasing wrinkles to the relief of migraines

However, in the last quarter of 2011, Allergan announced a 7% rise in sales of its flagship treatment, to 415.3 million dollars. "If I had known (he would meet with such success, ed), I never would have given the group Allergan," confesses Alan Scott. The ophthalmologist in San Francisco developed the Botox in the 1970s, with the help of a biochemist, to treat ocular spasms and strabismus. This treatment, while Oculinum baptized, received its first approval from the U.S. Agency of the drug, the FDA in 1989. Two years later, Alan Scott was separating from his treatment Botox Allergan renamed.

In 2002 the FDA changed the destiny of botulinum toxin, approving marketing for temporary cosmetic treatments. "When I developed, I knew he could do wonders for neurological problems. But I had absolutely no idea of ​​its effectiveness as a cosmetic, "admits the ophthalmologist. With its crippling effects, the toxin can erase wrinkles faces. The success has been staggering. Botox is now used in 80 countries. Last August, it was approved in the United States and France to treat urinary incontinence in people with neurological disorders. Among its 21 approved indications, it is also used to relieve chronic migraines and regulate excessive underarm sweating.

In 2010, Allergan had to settle accounts with American justice. The laboratory had agreed to pay $ 600 million (453 million) to end an investigation of federal authorities on the conditions for marketing of Botox. He admitted selling his anti-wrinkle treatment so that it has been used to treat conditions for which the product had not received FDA approval.  

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]]> http://parasiteevecentral.com/the-maker-of-botox-blames-himself-for-selling-his-gold-nugget/feed/ 0 http://parasiteevecentral.com/343/ http://parasiteevecentral.com/343/#comments Sun, 27 Nov 2011 16:00:16 +0000 admin http://parasiteevecentral.com/343/ To your pens! A one month holiday season, the start of "Operation Santa's Mail" was given last Tuesday. In 2010, almost 1.5 million letters were sent to Santa Claus, including 160,000 e-mails. And the 2011 starts strong. In just four days, the mailbox of the famous man in red has already approved 133,350 letters and 41,717 e-mails. Behind the scenes, the Post mobilizes sixty people to lead this very special secretariat. Some of these secretaries are volunteers assigned to the task in-house, others were recruited for the occasion. "There is no particular skill to be a good secretary of Santa Claus," says one to the post office. No need to be a poet to address letters to the children, a card type they are sent.

Yesterday the market was still tune in slow motion. The trade volume has exceeded painfully € 2 billion on the great values ​​of the Paris stock exchange. On this day of "Black Friday" in U.S. markets opened for a half session. This day, like every day after Thanksgiving, sounds the start of the race for Christmas Atlantique.Chasse addition to good affairesAprès six consecutive sessions of sharp declines, few operators present at the Paris Stock Exchange engaged in an intense bargain hunting in financials and cyclicals cash advance.Operators complain German blockages on the tasks of the European Central Bank (ECB). France advocates a more determined it to help countries in trouble. Germany refuses. Sign of the tensions still very strong on sovereign debt, the performance of the Italian debt in two years reached a new peak since the creation of the euro, exceeding 8% in session on the secondary market.

Values ​​to follow

Axa (1.67% to 8.85 euros)

Groupama considered too low prices offered at this stage for its subsidiary Gan Assurances and may delay the sale beyond the end of 2011, reports vendrediLes Echos.

The opposition immediately demanded the resignation of Berlusconi. "I ask you, Mr. Chairman, with all my might, finally taking note of this situation. We can not keep going this way. You must resign, "asked solemnly Pierluigi Bersani, the leader of the opposition, after the vote.

Berlusconi said he would visit on Tuesday evening at the residence of President of the Republic Giorgio Napolitano. This is "an exchange of views," according to a government source No teletrak payday loan.Only the President may decide to appoint a new head of government or call early elections.

"We asked him to step aside"

Tuesday morning, the last support of Berlusconi had dropped. The head of the Northern League, Umberto Bossi, its main coalition partner, had publicly called for his resignation. "We asked him to step aside," Bossi told reporters in the Chamber of Deputies. He thought however that the test vote Tuesday would pass without incident.

The unknown was the number of members still loyal to Berlusconi. He had to gather all right for the majority of 316 seats, yet some analysts felt that the Chairman did not have more than a hundred supporters.