The new home sales fall 22.6% in Q2

Sales of new homes fell 22.6% in the second quarter in France compared to the same period last year, show figures released Tuesday by the Ministry of Sustainable Development.

At 23,183, sales from April to June, however, increase by 2.6% over the first quarter of this year.

In one year, the decline in the number of transactions reached 28.5% for houses and 21.8% for apartments.

"Sales of 2010, the year of continued recovery began in 2009, had been particularly high," says the ministry in a statement.

Of the last four quarters, sales of new homes declined 5.1% compared to previous four to 104,473.

This movement, which affects all areas of city with the exception of Central and Corsica, has not prevented a further rise in average prices at 3820 euros per square meter for apartments (7.7% over one year) and 249,400 euros on average for homes (+1.8%).

Meanwhile, on sale housing fell 8.6% in the second quarter from April to June 2010, to 28,596.Like sales, this reflux is more affected houses (-19.2%) and apartments (-7.3%).

The last four quarters, put up for sale, however, increased by 9.9% over the previous four.

Further signs of tension in the market for residential real estate, the stock of new homes for sale was in the second quarter, up 1.5% year on year and the average flow of housing has increased in one year seven months to eight and a half months for apartments, eight and a half months to just over 11 months for houses.

Moreover, housing starts for new homes end of July showed an increase of 15.7% over one year to 347,355 units, and 9.1% over the last three months compared to the previous three months, to 80,524.

The number of building permits granted for dwellings alongside increased 10.1% year on year to 422,974 units and 8.6% over three months, 118,747.

In the non-residential housing starts were up 9.6% over three months, to 5.95 million m2, but fell by 1.5% over the last 12 months, 24.39 million of m2.

Building permits for industrial and commercial premises, they are up 2.9% over the period May to July over the same quarter a year earlier to 8.88 million m2 and will increase by 5.7 % 12-month rolling, to 35.82 million m2.

The acquisition of BSkyB examined by the media regulator

The British government will ask the regulator of the media Monday to consider whether the guarantees provided by News Corp with a view to acquisition of the BSkyB satellite TV package is still credible, in view of the case News of the World.

News Corp, which belongs to Rupert Murdoch, has decided to close its Sunday tabloid News of the World, accused of embezzling thousands of voice mail in recent years.

This case comes at the worst time for News Corp. which is engaged in an attempted takeover of BSkyB, an operation estimated at around ten billion euros, which requires final approval from the government.

The British Ministry of Culture, Media and Sport should write in the morning Monday to Ofcom, the regulator of the country's media, to ask whether in the light of developments in the case, the redemption process should continue or not.

After the announcement of this consultation, the action BSkyB lost 6.5% to the London Stock Exchange.

News Corp., which already owns 39% of BSkyB, has promised that in the event of a total, the British would remain independent bunch, with an editorial completely free.

For a Citigroup analyst, Thomas Singlehurst, the probability that the transaction receives the approval of the government, despite the case News of the World, remains unchanged from last week.

"We still consider this operation in terms of 'when' and not in terms of" if, "he told Reuters.

The waste consumes one third of global food production

In a recent report, FAO experts estimate that 1.3 billion tons the amount of food lost or wasted every year on the planet. A third of world production.

While prices of food commodities including cereals soaring and that hunger riots could re-ignite some emerging countries, the new leaves a bitter taste: food waste never been so important in the world. Each year, the third of the food products on the planet for human consumption, or about 1.3 billion tonnes, is lost or wasted, according to an FAO report. A frightening figure as the total volume of food lost annually is equivalent to more than half of global cereal production.Fruits and vegetables and tubers and roots have the wastage rate is higher.

For the authors of the UN report, this situation totally indecent affects both rich countries than in developing regions, since they spoil respectively 670 million and 630 million in food annually. Still, consumers in Europe and North America are much less numerous. Based on the number of inhabitants, the food waste into rich countries is shocking. In Europe and North America, each consumer waste and between 95 and 115 kg per year, as against 6 to 11 kg only for the consumer sub-Saharan Africa and South Asia and Southeast.Result, the food waste from rich countries account for as much food as all food production in Sub-Saharan Africa.

In developing countries, this is mainly due to loss of "failing infrastructure, to outdated technology and inadequate investment in food production systems." In contrast, in rich countries, it is the behavior of large stores and consumers who are concerned: the so-called use-by dates and quality standards that exacerbate the appearance of the product are a waste sources frantic. Added to all marketing incentives to buy more. "The promotions of the type three for the price of two push the customer to fill his cart while he did not necessarily need," added the FAO experts."It is now more profitable to reduce wastage of food to increase agricultural production to feed a world population growth," concluded the FAO.

The euro zone should strengthen its response to the crisis, says IMF

The International Monetary Fund (IMF) on Friday called the euro area to urgently adopt a more comprehensive range of measures to resolve the debt crisis, mobilizing more money to keep afloat the States concerned.

Maintaining liquidity measures of the European Central Bank (ECB) is also crucial for countries whose banking sector is in trouble, "said Ajai Chopra, head of the IMF mission in Ireland.

"A key element of a European solution is a structure for crisis management at the highest level of the area.The priority is to quickly implement an enhanced FESF (European financial stability) that can more flexibly manage the crisis we face, "he said at a news conference.

About these frontally opposed to those made Friday by Jens Weidmann, the new President of the German Bundesbank, who said that it was "first in Greece itself to take further measures necessary."

He also reiterated the ECB's opposition to a restructuring "soft" Greek debt.

Disagreement on the response to the debt crisis could exacerbate the anxiety of the market while the credit rating agency Fitch downgraded the sovereign rating of Athens to "B +", citing in particular the threat of deferred payment of funds under the aid plan of 110 billion euros developed by the IMF and the European Union.

"Disproportionate burden"

For Ajai Chopra, "States can not help themselves, and place a disproportionate burden on the country (…) could not be economically or politically feasible."

"The scope and terms of financing must help convince private creditors that the debt burden is sustainable even in adverse scenarios, and therefore there is no question of restructuring the debt," he added during a teleconference about the progress of budget Ireland, which has been a support plan of 67.5 billion euros from the EU and IMF.

"On policy issues that are under their control, the Irish authorities have shown themselves determined and do their best to get out of difficulties," held responsible.

"But we must recognize that this might not be sufficient (…) This is why we have emphasized the support provided by a European plan more complete and consistent."

He also said the IMF disapproved of the French demand to see the noted Irish tax on companies deemed too favorable Paris.

Ajai Chopra added that all countries in the euro area should accelerate "recovery and reform" of their financial sectors.

"Stress tests should lead, where necessary, recapitalizations and in some cases, banks may need to be restructured or closed," he said.

Brad Pitt and Angelina Jolie assigned to an employment tribunal

Former Secretary of Miraval wine estate disputes his firing "unfair." She claimed 80,000 euros. The conciliation hearing is normally scheduled on June 7

For the two American stars currently present at Cannes, this is not the drama of the year. A former employee of the domain of Miraval in Correns (Var), including Brad Pitt and Angelina Jolie are the owners, before the industrial tribunal Draguignan due to unfair dismissal, it was learned from his lawyer Emmanuel Ludot. The secretary, who worked in this vineyard since 2002, "was dismissed in February 2010 because it was on sick leave since November 2009 and that therefore it disorganized enterprise" told AFP Me Ludot, confirming a report by RTL.

"She did not accept what it regards as unfair dismissal and referred the tribunal", demanding compensation of 80,000 euros, of which 40,000 in damages, he said. His client does not speak publicly until the day of the conciliation hearing, scheduled "normally on June 7. "Because we have a deafening silence in front of us we have decided to demonstrate," said Bar Council of Reims. "The peculiarity is that this area is owned by two monsters of American cinema, but as such, is a process of very ordinary," he believed the lawyer.

The Labour Court of Draguignan said "the case was at trial," without elaborating.Brad Pitt, 47, and Angelina Jolie, who will celebrate his 36 years, settled in the Var in June 2008 in a building of the seventeenth century, embedded in 400 hectares of forest and vineyards. Currently, major work is done at the castle, whose care is provided by security professionals. Both actors, who have announced their relationship in late 2005, had three children together, including twins, and are the parents of three adopted children.

The couple is expected to glamorous Cannes Film Festival that opened Wednesday. Angelina Jolie is promoting an animated film in which she lends her voice, "Kung Fu Panda 2." Brad Pitt face him in "The Tree of Life" by Terrence Malick, a serious contender for the Palme d'Or.

Consumer sentiment rose in April in the U.S.

U.S. consumer sentiment rose more than expected in April, the latter a little less concerned about the impact of soaring oil on economic growth.

Index Thomson Reuters-University of Michigan measure stood at 69.6 in April, a first estimate, against 67.5 in March. The consensus gave 68.5.

The sub-index of economic conditions is 82.7 against 82.5 in March, while the expectations of consumers rises to 61.2 against 57.9.

The sub-index of inflation expectations one year is unchanged at 4.6%, while inflation expectations at 5 to 10 years flexes slightly to 2.9% against 3.2% in March.

When the administration of employment center turns to the absurd

In its 2010 report, the ombudsman job center points to the cumbersome administrative procedures. Anthology of the most absurd.

The National Ombudsman of employment center, Jean-Louis Walter, released its report Thursday, 24 March 2010. More than 300,000 claims were submitted last year. A figure he considers "correct" in terms of 6 million cases handled each year by the organization. But like its predecessor, the mediator in post since July points to the slowness of administrative procedures, sometimes not operational in the face of complex issues. Refusal of employment bonus or reimbursement of moving expenses, cancellation of unemployment benefits already granted … veering to the absurd examples are numerous. Anthology.

Moving expenses of Mr. Didier P.

Didier P., unemployed in the North, has just found a job for three months in the Morbihan. He then asked to receive the support of his moving expenses. But refuses employment center. To encourage applicants to mobility, the administration is indeed responsible for their moving expenses when the recovery has a minimum of six months. So no matter if the first contract of Mr P. leads to a permanent behind. Employment center because it takes into account that the first contract of employment recovery itself. Rigidity that the Ombudsman proposes to relax, failing to provide a solution to Mr. P.

The dates of birth of Mr. M.

Mr. M. is Senegalese. Last year, he was denied the continuation of his unemployment benefits after working for 30 years at Ford. The reason: conflicting dates of birth. Mr. Mborn in 1947, but like other foreign workers, he does not know his exact birth date. In 2010, following a cross file for Social Security, date of birth of Mr. M. was questioned. Its rights to maintain an unemployment benefit until his retirement too. The decision applies retrospectively, any overpayment of 43,000 euros it is even asked. A decision that the Ombudsman considers to be "unwise" given the "serious consequences" of this late decision for Mr. M.

The premium for the employment of Mr. Jean-Pierre J.

Jean-Pierre J. holds the specific solidarity allowance (ASS). After working continuously from November 2009 to March 2010, amounting to 86.67 hours per month, Jean-Pierre asked to receive the earned income tax of 1,000 euros.This bonus requires having worked for four consecutive months up to 78 hours per month. Denied the employment center, whereas only the month "calendar" (the year) may be taken into account. And that while the provisions of the Labor Code refers to "consecutive months worked", a formulation much less restrictive. On this point, the mediator has asked the state to amend the circular center jobs in a more favorable job seeker. Jean-Pierre has since benefited from the bonus, granted "in exceptional circumstances" by the director of his agency.

Dividend increase of Allianz below expectations

Allianz announced Thursday a dividend increase below expectations, however after having beaten the consensus earnings for 2010, having been able to effectively manage higher claims for natural disasters.

The stock dropped as a first step to significantly reduce its loss, yielding 2.58% at 101.90 euros at 09:20 GMT.

One analyst said that Aegon announced a capital increase of one billion euros was feared that insurers as a whole must increase their capital adequacy ratio to meet future regulatory standards.

"Allianz has managed its risks and has emerged from the financial crisis of the years 2008 and 2009 while being highly profitable and financially strong," said Chief Executive Michael Diekmann said in a statement.

2010 will be the dividend of 4.50 euros per share against 4.10 euros and a consensus before giving € 4.53.

Allianz otherwise reported an increase of 17% of its annual operating profit to 8.2 billion euros, driven by better than expected performance in its segment Casualty (fire and casualty) where premiums rose more than 3%.

This balance includes an accounting effect and positive exchange of 500 million euros.

"Overall, we recorded a robust performance in a difficult market environment," said CFO Oliver Baete.

Allianz said in November that its annual operating profit would be at the top of the range anticipated from 6.7 to 7.7 billion euros.

Operating income of life insurance / illness has increased over 7% but the market was expecting 10.6%.Asset management grew almost 50%, more than expected.

For 2011, the Chief Executive's objective an operating profit of around eight billion euros, about 500 million euros.

He anticipates more precisely an operating profit of 4.2 to 4.8 billion euros in 2001 in the casualty, from 2.2 to 2.8 billion in life insurance / health and $ 1.8 billion 2.2 billion in asset management.

Claims for natural disasters has almost tripled to 1.3 billion euros against 447 million in 2009.

Quarterly net income came to 1.14 billion euros (1.16 billion consensus).

Genzyme and Sanofi have reached an agreement in principle

Sanofi-Aventis and Genzyme have reached an agreement in principle after which the French would pay $ 74 in cash per share plus a certificate of Genzyme value conditional on its experimental drug against multiple sclerosis, said on Tuesday a source in fact the case.

The source said that the deal should be announced by Wednesday morning.

At 1710 GMT, Genzyme took more than 3% to 74.11 dollars.

Results in line with expectations for Novartis

Novartis on Thursday presented the results broadly consistent with expectations for 2010, but below expectations for the fourth quarter.

Net income grew 18% in 2010 to 9,970,000,000 dollars (7.27 billion euros), the Swiss pharmaceutical group said in a statement. The markets were anticipating a profit of 9.72 billion.

The net sales grew 14% in both dollars and local currencies to 50.6 billion dollars, in line with the consensus of 50.54 billion made by analysts. In the Pharmaceuticals Division, sales have expanded by 7% to 30.56 billion, as expected.

Operating income increased 15% to 11.53 billion while the markets were anticipating 11.86 billion.Earnings per share came to 4.28 dollars after 3.70 in 2009.

The Board of Directors will propose to the General Meeting a dividend of 2.20 francs per share for the year, after 2.10 francs for 2009.

In fourth quarter alone, net profit fell 2% to $ 2.27 billion and operating income weakened 6% to 2.47 billion. Markets were expecting 2.09 billion respectively and $ 2.8 billion.

The quarterly revenue increased 10% to $ 14.2 billion in local currencies. In Pharma, sales rose 3% to 8.03 billion.Analysts had expected 14.11 billion for the group and 8.02 billion for Pharma.

For 2011, Novartis warned that the full effect of accounting for the acquisition of Alcon American "will result in charges related to amortization of intangible assets amounting to around two billion dollars."

The group also anticipates growth in sales "turning around two-digit constant currency. However, the Pharmaceuticals Division is expected to grow sales "in the low to medium range" to a digit. The increase will be lower due to the combined effect of price reductions imposed in 2010.

In the exchange of pre-market title Novartis was down 1.78% Thursday after the announcements.