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Allergan: Agreement with Justice on the Botox

September 2, 2010 – 4:52 pm

This legal battle had started in the early 2000s. To close the case, Allergan, the U.S. manufacturer of injectable wrinkle treatment Botox, has decided to use extreme measures. The California group said Wednesday it agreed to pay 600 million dollars (467 million euros) to end an investigation by federal authorities on the conditions of marketing and promotion of its star treatment.

"Allergan has agreed to plead guilty to some facts concerning the years 2000 to 2005," the group said in a statement. During this period, the lab admits marketed Botox, botulinum toxin, which allows with its crippling effects to erase facial wrinkles, such that it has been used to treat conditions such as migraine and chronic pain.But the product has not received approval from the Food and Drug Administration (FDA), the American health authority, to treat these disorders.

A special charge of 610 to 615 million dollars

Facts for which the laboratory will pay 375 million dollars in U.S. government, plus 225 million to settle civil complaints. The settlement announced Wednesday will result in the group accounts by an exceptional charge of 610 total $ 615 million, says he. Allergan, however, denies having had intentionally "misleading and deceptive conduct" in the promotion of Botox.

"This agreement is in the best interest of our shareholders, since it solves all the issues that were problematic in the investigation, we avoided significant costs of litigation," commented Executive Vice President of Allergan, Douglas Ingram , quoted in the press release.This epilogue "allows us to devote our time and resources on developing new treatments for patients and the medical community," he adds.

Tony West, Deputy Attorney General U.S. Department of Justice, welcomed the resolution of this conflict in an open letter published on the ministry website. "When allegations of fraud facing our public health programs, these are the health costs of all of us who climb," he says.

The ambitions of Botox

This page legal tour, Allergan has always provided its ambitions for Botox. The Food and Drug Administration (FDA) approved last March the use of Botox for the treatment of some stiffness in adults, said the group in its statement.

Allergan has also filed an application for approval of its drug for the treatment of chronic migraine and is awaiting a decision on this issue before the end of the year. In the United Kingdom, the laboratory has obtained such authorization. A world premiere.

Finally, Botox has also been approved in 70 countries for the treatment of symptoms related to cerebral palsy, but still not the United States. Allergan said it was in talks with the FDA on this issue. Meanwhile, Botox is a successful product. In 2009, its turnover reached nearly $ 1.28 billion, or nearly 30% of total revenues Allergan.

At the NYSE, the action Allergan shares closed up 3.03% Wednesday night at 63.28 dollars.

656 000 staff in ten years

September 1, 2010 – 1:56 am

For the first time since 1980, the number of three public (state, territorial and hospital) have stagnated in France in 2008. Specifically, they rose only 1800postes. From never-seen since 1980. At 31 December 2008, according to report data annually on the Public Service published yesterday, the Hexagon were almost 5.3 million employees, or 20.5% of total employment, and 656,000 more than a decade ago.

The virtual stagnation of 2008 is largely to the credit of the state civil service has continued to decrease in population from 2006. It has eliminated 77,000 jobs last year, including through non-replacement of a staff of two who retire and to continue the policy of transfer of powers to local authorities. This represents a decline of 3.1% of its workforce in a year.France, employs 2.4 million civil servants, 69.5% and 14.1% of holders of soldiers. This total is 1.4% lower than in 1998, representing a decline of nearly 35,000 agents in a decade.

The numbers have declined in 2008 across all departments, with the exception of Justice and the prime minister. The portfolios of Education and Ecology have been most affected by the cuts with cuts respective 43,000 and 23,000 agents.Finally, almost a two-state official now works in education, one in five of Defense and Interior to eleven.

2328euros per month for a state agent

Another conclusion of the 2009-2010 report on the state Public Service: The local authorities have continued to recruit like crazy, with nearly 70 saving account pay day loan.000 job creation in 2008. The local civil service now employs 1.82 million people. A total of 3.9% higher than in 2008 and, especially, a surge of 40% compared to 1998. This dramatic increase is partly related to the second law of decentralization occurred in 2003.The regions – which employs only 4% of all local officials – have been particularly intensive public sector jobs as they saw their numbers jump over a decade, from 22.5% on average each year and even 49% per year since 2005. In more than one in four cases, recruitment occurred three years prior to 2008 had nothing to do with transfer of responsibilities from the State.

The public hospital has, meanwhile, was more reasonable since the increase of its workforce in 2008 was four times lower than that of local authorities: 1% over one year or more 10000agents. At December 31, staff of public hospitals accounted for approximately 1 million people. Those numbers have increased, on average ten years, 1.8% each year.

Pay later, an officer of the state received an average of 2328 euros net per month in 2008.An increase of 3.7% in current euros a year and 0.9% after allowing for inflation. Territorial Agent earned nearly 600 euros less and a hospital, 150. In both cases, the territorial and hospital officials have seen their wages decline in net income a year, by 0.6% and 0.1% in constant euros.

Zara and Toys'R'Us Going on Internet

August 30, 2010 – 11:00 am

Two heavy international trade are late jumping electronic commerce. Zara, the flagship brand of Spanish Inditex group, is launching its first commercial site, this Thursday, in six European countries including France. And the king of American toy, Toys'R'Us, leader of the French market, it will follow suite in September.

The leading players in the trade not to sell their products online, along with their networks of stores, are becoming increasingly rare. "For a year, large retailers have led a major offensive on the Internet, confirms Marc Lolivier, managing director of the Federation of distance selling. They took the time to properly prepare their arrival and are expected to become major players in online commerce.After the shock of the Internet bubble and the fear of cannibalizing their stores drive, people who rateraient this rendezvous with their consumers may pay dearly. "

These signs queens malls and shopping streets do not want to leave the place of the electronic market – 25 billion euros in France, up 25-30% per year – only to specialists in the mail (La Redoute Three Swiss) or "pure players" of the Internet (Amazon, CDiscount, RueDuCommerce, etc..).

This is also the opening of large toys rays from these general e-commerce last year that led Toys'R'Us to react to avoid being nibble market share. One of its main competitors, JoueClub, has launched its e-shop in 1997. "Sales really took off in 2003, said Olivier Donval, webmaster.Today, they account for 5% of our turnover, or 8 to 10 million euros, an increase of 10-15% annually. "The online store provides a complementary offering, complete all the year and not just at Christmas, but also in relation to the mesh stores. Only La Grande Recre remains absent from the web merchant, probably not for long.

A boost for fashion

The arrival of the giant Zara is expected to propel the fashion industry still considered recently by nature antithetical to the remote purchase, at the forefront of products purchased on the Internet. It is already in second place, tied with cultural property, behind the high-tech. The feminization of the Internet changed all that. Kiabi, Camaïeu, Kookai, New Look, Mango them have recently begun. Gap promises to "soon" the launch of its site French merchant, after the United Kingdom today.H & M is still lagging in France but Zara would push to accelerate.

"We are still long way off, but the explosion in sales of textiles on the Web encourages last stragglers, said Pierre Kosciusko-Morizet, co-creator of the online sales site PriceMinister. The adventure involves risks, however because selling online is a different job. "The new entrants have the choice between selling on marketplaces, such Amazon, or incorporating all or part of the chain (technology, logistics, site management ).

Last refractory, food, whose sales exploded on the Internet in the United Kingdom or Japan, does not come through yet in France. The locations of Carrefour, Auchan and Casino are marginal compared to their weight in the trade. Even on niches.The online store brand Maille mustards (Unilever), opened in late 2007 with the ambition to create a new distribution channel, has never really worked. Mayonnaise does not take French because users do not instinctively web for this type of purchase and they enjoy one of the best physical distribution networks in the world.

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2010: see industrial investment depart

August 28, 2010 – 5:40 am

French industrialists feel that things can now only be worse. According to the quarterly survey released Friday by INSEE, business leaders predicted, in July, up 5% from their investments this year compared to 2009 – with an acceleration in the second half. This figure compared to a collapse of 21% last year.

The reversal is clear, even if the entrepreneurs have seen a slight decrease their investment forecasts for this year – they were anticipating an increase of 6% in the previous survey conducted in April.

INSEE said that this recovery would be particularly marked in electrical, electronic, computer and machinery (+11% in 2010 after – 25% in 2009).It is also clear in the other industries sector (6% after – 27%) such as textiles and leather, chemicals, pharmaceuticals and metallurgy and in the transport equipment sector (up 2% after – 14%). In contrast, in the area of agricultural and food industries, investments continue to decline 3% in 2010 compared to 2009 No fax payday loans.

Overall, after a bad year, business leaders see global demand and a resurgence in their order books are gradually replenish. France has among others the strong recovery of its main trading partner, Germany.

The caution is

The return of investment is a sign of renewed confidence in an area endangered by the crisis that plagued the last two years.INSEE does not he released a few days ago another indicator showing that the business climate was at its highest in two years?

But caution is clearly called for. Not only because the manufacturers have consistently tended to overstate expectations. Then, because, despite an improvement on the forehead of the economy, demand in Europe remains low, in a context of severe budgetary restrictions. The companies are well aware. Friday, CGPME defended in the name of "employment and competitiveness, the tax benefits they receive, some of whom may be threatened by efforts to reduce the deficit.

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GDF Suez inflate bills its customers

August 26, 2010 – 2:44 pm

Consumer complaints accumulated against GDF-Suez. According to Le Parisien / Today in France on Thursday, many of the 10 million customers of the incumbent complain of "questionable practices" by the group, to inflate the bills. "In 2009, 41% of the total number of claims related to GDF Suez", or 5740 complaints in 2009 and already 3600 complaints in 2010, notes in the daily Guillaume Girot, chief recommendations to the energy ombudsman . And the UFC-Que Choisir makes the same conclusion. According to the Consumers' Association, 170 local branches are all the same discontent of customers who dispute the invoices sent by GDF-Suez.

At issue primarily a billing based on consumption estimates inflated.Most consumers are paying too full every month, which shall not be refunded at the end of the year after their meter reading by a technician GrDF. "One way to make cash on the backs of customers," the Parisian court … when the reimbursement is made right. However, "the billing calculations are so complicated that it must have been Polytechnique understand!" Says the Ombudsman. Not so obvious for the consumer to assess the accuracy of its reimbursement.

Smart Meters

Customers also complain that the retroactive application of rate increases. These increases are authorized by the state so that the operator can affect changes in commodity prices. But the increase should in no way interfere retroactively. A consumer reports and a rate increase occurred on 1 April 2010 he was charged in mid-2009.An increase equivalent to a few euros a month, but could pay big overall GDF Suez, whose annual sales have peaked at 79.9 billion euros annually by 2009.

One possible solution to end the abuses of billing based on estimates is the introduction of smart meters. An EU Directive stipulates that 80% of the French population is equipped in 2020. But for now, the experiment in some French regions has not been very convincing, the counter having proved costly with no real gain for the consumer.

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The fires have saddled Russian growth

August 24, 2010 – 11:48 pm

Droughts and fires will they bring Russia to its knees? The Russian government admitted on Tuesday that recent weather events will cost between 0.7 and 0.8 growth in the country. Without this unprecedented heat wave last half-century, the Russian economy would have increased from 4.4 to 4.7% in 2010, according to a first estimate unveiled by Economic Development Minister Andrei Klepach. The final cost of these disasters should be known in November.

"The extreme heat and smoke from fires have forced companies to close their plants or reduce their production schedules," according to economists at HSBC. "The productivity of those who have maintained their production has declined considerably." These climatic events were particularly affected the agricultural sector. Wheat production is expected to drop by and third.What make analysts more pessimistic than the government: they think the heat wave is expected to cost a point of growth.

Russia, however, had started the year well, with a growth rate of 2.9% in the first quarter and 5.2% in the second. "In the third quarter, the activity should be particularly weak and a scenario of stagnation can not be ruled out," HSBC economists said.

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Cotton pushed up prices of textiles

August 23, 2010 – 8:52 am

The world cotton prices soaring and, faced with this increase, the entire chain of textile and clothing who cares. Last month, the U.S. firm of Levi's has warned its customers: "We have already decided to increase prices for the second half of this year." An ad that does not delight consumers and that may precede many of others. The Swedish manufacturer of clothing and H & M admits that "if things continue this way, this should lead to inflationary pressures."

Firstly, it is mostly entry-level brands, whose margins are tighter, which may review their pricing policy. In the medium and high-end, the flexibility is more important.Nicolas Dreyfus, director of development at Kooples, also explains that "providers defray a portion of the increased cost of raw cotton. And if David Leslie Freche, CFO of Loft, said he was not "worried because of the brand positioning, it is still concerned about" upward pressure on commodity markets. " A view shared by Francesco Maria Grau, secretary general of the French Federation of fashion, which does not hide his concern: "For now, the brands have opted not to pass on price increases on their products . But until when will they? "

Two or three years still difficult

This last month that the price of cotton has engaged its sharp rise.It went from 73 cents in mid-July to 83 cents a pound in August (one bale of cotton weighs 485,000 pounds, 220 kg on average, Ed). The value of the raw material has reached a record high since 1995 no fax payday advances.

It was recent weather disasters that have added to market nervousness. The terrible floods in Pakistan and the recent landslides in China have destroyed much of the world, including these two countries account for 40%, depending on CyclOpe. The storms have pushed the production of 8% and 10% Pakistani Chinese. Consequence: when the production of the northern hemisphere matures in November, it should be less than 10% to 15% anticipated demand. "70% of U.S. crops are already sold," said one trader.The courses are already feeling it: some fear a shortage or that the offer is insufficient to meet current contracts. The situation might be even more tense as the production has been falling for two years. Because of the low prices in previous seasons, prompting producers to convert. Cultivated areas have declined by about 25% and "50% of operators have disappeared in 2008, says even a trader.

Some product lines provided in the textile industry might not see the day. That, to protect stocks son. In fact, "reserves have been eroded in recent years," said one broker who specializes in the area. Blame it on poor anticipation of events. "We were wrong," says a French producer. Missing 4-5000000 bales of cotton for the stocks are in equilibrium.Manufacturers and market experts cotton agree that it will take two or three years of production before the market lost some of his nervousness.

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Wall Street found the strength

August 21, 2010 – 5:57 pm

The NYSE found the path to higher Wednesday. After a quiet opening in the (0.11%), the Dow Jones accelerated its gains and increases from 0.42% to 10,681 points. The Nasdaq gained 0.35% to 2292 points while the S & P takes 0.31% to 1124 points.

After the series of bad statistics published yesterday, investors are relieved by the employment figures of the private sector. The monthly survey from consulting firm ADP showed that the U.S. has created 42,000 jobs in July, when economists and analysts on average expected 40 000 new posts. The June figure was also revised upward and now shows 19,000 new jobs, 13,000 cons first announced.

These figures are positive before the official statistics of the U.S. labor market that will be published Friday. Economists and analysts on average had forecast an index down to 53.

Moreover, the ISM services has accelerated unexpectedly in July. It stood at 54.3 last month, against 53.8 in June

On the currency front, the dollar resumed on Wednesday it some color, but remains near its lowest level since 1995 against the yen and a low of three months against the euro. Indeed, this Wednesday, the euro continues to evolve over $ 1.32, while the dollar plunged against the yen at 85.42 yen 85.80 yen against Tuesday night.

Anadarko bounded

Time Warner (2.07% to 33.03 dollars) has published a quarterly profit above Wall Street expectations after posting the largest increase in sales for two years.

Anadarko (3.52% to 55.01 dollars) oil group, owns 25% of wells BP, Tuesday reported a net loss of 8 cents per share less than 48 cents per share loss a year previously.Excluding items, earnings came in at 49 cents, while the consensus gave 35 cents.

Electronic Arts (5.87% to 17.13 dollars) announced on Tuesday quarterly results better than expected and reaffirmed its annual forecast and still able to breath under this Wednesday.

The Federal Trade Commission (FTC), U.S. competition authority, has announced on Tuesday it had reached an agreement with industry giant Intel microprocessors (+0.18% to 20.75 dollars), against which it had complained in December to anticompetitive practices. Upon filing of the complaint, the FTC explained that it was not seeking to impose a "financial penalty" to Intel, which last year had already paid $ 1.25 billion to rival AMD (1.20 % to 7.60 dollars) and 1.06 billion euros fine imposed by European authorities.The action took Intel 0.10% to 20.89 dollars in electronic trading after the close of trading. The AMD yielded 0.13% to $ 7.50. They will still be monitored closely in this weekend.

The Canadian RIM (-3.10% to 53.81 dollars) presented Tuesday in New York, his new BlackberryTorch 9800, which will go on sale August 12 and will compete directly with Apple's iPhone 4. But his disappointment Arab continuing.Saudi Arabia has in effect suspended the BlackBerry service, according to the UAE, the Gulf countries demanding to watch multimedia phones from the Canadian manufacturer, which replicates grant any waiver of its encryption system, particularly safe.

Investment bank Lazard Franco-American (2.59% to 32.23 dollars) announced late Tuesday that the heirs of his deceased CEO Bruce Wasserstein, and other current and former executives of the bank, would put market approximately 7.4 million shares, or nearly 7% stake.

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Belgium: ING Bank vexes seniors

August 5, 2010 – 7:24 pm

Prohibition to withdraw more than 1000 euros per week at ATMs. This had planned to impose on senior Belgian Dutch bank ING, from August 11 next. She had no idea that this decision would cause controversy into the upper echelons of the state.

For her, however, it was only to protect more than 60 years, too often victims of thefts at cash withdrawals. She adds in his defense that fraud have doubled over the past four years, taking mainly targeting the elderly.And if stolen credit card codes, the bank generally must repay its customers.

With a ceiling of 1,000 euros per week, an amount greater than that derive 98% of its customers, she never imagined that trigger the wrath.

However, the association of senior defense Senior Flex is immediately leapt, considering the discriminatory measure. The Center for Equal Opportunity and the Fight against Racism has followed suit, claiming in a statement that "clarification". Snowball Effect: Two Belgian ministers have finally taken over the case and urged the bank to abandon its project.

Vincent Van Quickenborne, Minister for Enterprise, held ING infantilizing older clients. Joelle Miquet, The Minister of Equal Opportunities, as she pointed to the law of 10 May 2007 prohibiting age discrimination.Faced with such indignation, the bank finally decided to backtrack. The Coordination of Associations of Senior nevertheless indicated that it will remain vigilant with regard to the bank.

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Genzyme Pharmaceuticals is salivating

August 4, 2010 – 4:28 am

Her niche business attracts the desires of the entire pharmaceutical sector. The U.S. biotech Genzyme specializes in proteins for treating rare diseases, is now the subject of a takeover by Sanofi Aventis, valued around $ 18.4 billion, or $ 69 per share. According to analysts, Pfizer is studying the issue, as well as Merck & Co, Roche or GlaxoSmithKline.

For these large companies, Genzyme is a solution to the challenge of patent expiry of their main drugs on the horizon 2001-2012. The drugs made by Genzyme are sold at high prices. "A personalized approach to health, combined with a duty of innovation are now a leading biotechnology company recognized worldwide," says besides the group on its website.

Genzyme also provides treatment in diseases such as kidney disease, cancer, transplantation, or diagnostic tests. All these drugs have a longer patent protection and higher prices than conventional products.

Under Attack

Since its inception in 1981 in Massachusetts, Genzyme has grown steadily. The group, which employs 12 No fax payday loans.000 employees worldwide, had in 2009 a turnover of 4.5 billion and a net profit of 422 million. Its market capitalization is around 18 billion dollars (13.8 billion euros).

But last year, the group also experienced problems with contamination on its biomanufacturing unit Allston, Boston, which has caused shortages of two of its best selling drug, Cerezyme and Fabrazyme. This situation has led to a fall of more than 12% of sales this second quarter 2010 to 1.08 billion dollars and who have left a rather low level of valuation and vulnerable to attack.

Sanofi-Aventis, which is clearly the objective of diversification, would be best placed to complete the purchase. The group has already announced Chris Viehbacher late June acquisition of U.S. biotechnology company specializing in oncology TargeGen for up to $ 560 million. By buying Genzyme, Sanofi pass up a gear, signing the agreement the largest in its history since its merger with Aventis in 2004.