International & World Report

Sales up, prices under pressure. The results of the marketing of new homes for the second quarter, released Tuesday by the Department of Ecology, show that the industry continues its recovery. More than 29,900 new homes have been acquired between March and June 2010, or 7.6% more than during the same period last year. The houses mostly benefit from this improvement (+23.3% yoy). The overall number of sales still remains well below the level reached in 2007 with nearly 40,000 new homes sold in the second quarter. In the first quarter 2010, sales had increased 5.3% over one year (26,700 sales). Over the last twelve months, 110,200 transactions were concluded.

Several events could however be affected by this recovery still fragile, particularly the reform of aid to the acquisition.The predicted demise of the tax credit on the loan interest and the end of the doubling of interest-free loan, as well as the good performance of Scellier still have boosted sales early this year. Mouillart Michel, professor of economics at University Paris X, is also concerned that loopholes in the tax planing and removal of 340 million euros in cash HLM "does dub from the nose area of new construction from summer 2011 or early 2012.

The specter of scarcity

Especially as the specter of shortages threat. If the number of new homes for sale in the second quarter of 2010 was much higher than last year (+57.3%), the stock of new homes for sale continues to decline. At 30 June 66,900 homes were still available, or 20.8% and 23.9% for apartments and houses less than in June 2009.The number of building permits issued, which continues its growth, has increased by 31% between May and July 2010. It should nevertheless have at least two years for the construction of housing starts. For now, housing starts stagnating. Even if the month of July recorded a rebound of 17.7% over a year, housing starts remained stable between May and July 2010 (+0.2%).

Consequently, the time is shorter sales and prices are rising. The average time of flow is thus increased from 9 to 7 months for apartment buildings and 12 to 8 months for the individual home.

As for prices, buyers looking for a house fared better than those who want to buy an apartment. The price of individual homes fell 4.2% and even more large, up to 20% decrease for six or more rooms. The price of square meter in the community continues to grow, however.At 3375 euros for an apartment is up 5.4% compared to last year. The studios also face inflation of more than 11%.

ALSO READ:

"The recovery in the construction ran out of steam

"No recovery in construction before 2012

"A reform of the Scellier 1 January 2011

Tampered with payslips to rent an apartment

"Real Estate: the rate was almost the lowest

"Real Estate: Rising prices worry Appeared

"Aid to the property will be refocused

The leaders of the U.S. biotechnology group Genzyme had said they would not sell below $ 80 per share. Sanofi-Aventis announced Sunday it has nevertheless proposed a takeover offer for about $ 18.5 billion, or $ 69 per share, confirming persistent rumors since last July. This represents a premium of 38% over the closing price of 49.86 dollars per share of Genzyme July 1, just before it is affected by acquisition rumors, Sanofi said in a statement. The transaction would be solely in cash.

The French pharmaceutical group had remained silent since the leaks in the press last month about his interest in American business.The CEO of Sanofi-Aventis, Chris Viehbacher, confirmed to Le Figaro that the group would continue its acquisition policy.

A world leader in the development

The main shareholder of Sanofi-Aventis, L'Oréal and Total, is shown also booked on the takeover, fearing that the French pharmaceutical group pays its target too cher.Le board of the group had warned that he does not go beyond $ 70 per share. Analysts estimated the amount of money available for redemption at about 20 billion euros.

In a statement, Sanofi-Aventis said that "bringing the two companies would create a global leader in the development and availability of new treatments, bringing to each new significant growth opportunities."

The Spanish economy is indeed recovering from recession. The results of the second quarter, with GDP growth of 0.2%, according to final figures released yesterday, confirmed. This is the second positive quarter after 18 months of recession. A marked improvement in household consumption, especially durable goods, coupled with a slight improvement in business investment boosted the recovery between April and June, also helped by strong exports. The contribution of domestic demand growth rose from -2.8% to -0.5%.

But the horizon may darken in the coming months. "We expected a good performance of consumption with purchases made ahead before stopping the car scrapping and entry into force of up 2 points from VAT, says Jesus Castillo, Natixis.In addition, new restrictive measures and labor market will always influence the damaged second half. "

Social unrest

BHP Billiton on Wednesday shows he has the resources to tackle Potash. The world of mines said in a statement increased 47% in net profit in the first half to 12.72 billion dollars against 5.9 miliardi a year earlier. This figure is slightly below the 13.3 billion average forecast by analysts, where a mixed response in trade after the close of trading in Sydney. The share fell by 0.3% to 37.44 Australian dollars.

Revenues climbed 5.2% to 52.80 billion dollars over the period against 50.21 billion recorded last year. A performance that the group attributed to the rise in copper, nickel and aluminum.The Group has revised upwards its dividend payment that passes, as expected by analysts, cons 41cents to 45 cents a year earlier.

The company said again be able to complete the acquisition of Potash for $ 40 billion. The group's net debt declined to $ 3.3 billion.

For the future, BHP Billiton remains cautious. The Anglo-Australian group said it expected slower growth in China, its largest market, where the economy should grow by 8% in 2011. Overall, the global outlook in the short term are still uncertain for the commodities sector. Without more details, BHP Billition believes that steel production is currently exceeding the actual demand.

It all started when Carrefour has undertaken an extensive market study on the area of Fuyang in Anhui Province (eastern China). The group then found that some 160 supermarkets already sported the logo, said the official news agency Xinhua (New China).

In reality, these stores are in the distribution chain Anhui China Jiali, founded in 2002 and located in the region of Fuyang. The official Chinese name of Carrefour translating phonetically 'Jialefu, "the French group has found that its local rival had usurped its name and logo. And decided to enter the Chinese justice.

"A trial is taking place, but we can not say more because it is being" told AFP a Carrefour spokesman on condition of anonymity, confirming information reported by Xinhua.

Nearly 700,000 euros in damages

According to the Chinese agency, accused Carrefour Jiali Anhui and its affiliates have used a logo similar to the blue of the French group in China on his signs, his bags, his labels and receipts. Carrefour asked his rival to change its logo and to pay six million yuan (698,500 euros) in damages. The trial began Aug. 18 in the capital of Anhui Province, Hefei.

Anhui Jiali rejects accusations. The group recalled that he had changed his name before the filing of a complaint from Carrefour. At its inception in 2002, in fact, the supermarket chain was registered under the name "Anhui Fuyang Jialefu Business and Trade Co., Ltd.." Said the Chinese agency. The group changed its name by replacing "Jialefu" by "Jiali" in August 2009.

At that time, the chain had already opened more than 160 supermarkets in the area of Fuyang.But under its original name … For the local company, the logo of Carrefour China – which means "happy family" – does not have the distinctive attributes of a trademark. Faced with these arguments, it will be the Chinese court to decide.

On August 11, Carrefour announced the opening of its 160th hypermarket in China in the city of Liaoyang.

ALSO READ

"Carrefour is growing in China

"Carrefour starts selling its Asian operations

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.

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.

For some researchers, Taraxacum kok-saghyz became an obsession. This plant, known as the Russian dandelion, is indeed the most serious alternative to Hevea brasiliensis, rubber tree, threatened by the spread of a fungus that has infected many plantations in South America and Asia. German researchers at the Fraunhofer Institute of Molecular Biology and Applied Ecology (IME) in Aachen are currently working to manufacture a Russian dandelion GM can produce between 150 and 400 kilograms of latex per hectare per growing season.

The figure seems low, but for researchers, it rhymes with scientific prowess. The EMI is able to identify and disable the enzyme responsible for the rapid coagulation of rubber from dandelion, a property which hitherto banned a large-scale production.Ironically, it was in Germany that the most thorough research on the subject had been made and then stopped, for lack of solution to the problem. At that time, the Germans imported Russian roots and planted in the concentration camps of Auschwitz, where inmates entertained. The issue was already an alternative to rubber for the Army Material.

Nearly 70 years later, the genetically modified plants obtained are capable of making four to five times more rubber with classic Russian dandelions. "The advantage is that the dandelion is grown on large areas. This is an annual plant, which can pick up all year, "says Serge Palu specialist researcher at CIRAD. From there to consider industrial-scale production? "For this, we are still waiting for 2020," cautions the researcher."We must still find the variety that does not clot and produces significantly. More importantly, we must find the extraction process economically profitable.

Allocation of 8,000,000 euros

On this last point that research stumble. As for the guayule, a plant that grows wild in the deserts of northern Mexico, the latex does not flow by incising the bark, but is trapped in the plant cells. A mechanical milling significantly reduced yields. In the 40s, Russian and American researchers had encountered the same problem. With financial support from such giant tires Bridgestone / Firestone, the Emergency Rubber Project USA – a program involving over 1000 scientists, launched by the authorities – was able to provide 2500-3000 tons of guayule rubber by year.But oil and synthetic rubber boom will end these research efforts alternatives.

Today, Brussels is all for bring up to date. A European program called EU Pearls was launched in 2008. With a budget of 8 million euros over four years, it aims to support the research efforts of 11 partners from Holland, Spain, Germany, France, Czech Republic, and the Switzerland.

Halfway through, preliminary results are encouraging. In addition to discovering the dandelion, the researchers came after 21 months of work to get guayule with yields of 900 kg per hectare per annum. It is certainly less than 1500 kg of rubber plantations, but scientists are optimistic.

Emergency

For the EU, it is urgent. The rubber, the basis for more than 40,000 products of everyday life, is under pressure.Since 1 January, prices jumped 160% in Tokyo, the market, from 186 yen per kg (1.65 euro) in July 2009 to 417.10 yen in July 2010 (3.72 euros). Even upward movement on the Singapore market where prices rose 76.89% from $ 1.98 to 3.18 dollars a year.

"Do not forget that there is a public health issue very important that can be expensive to run," adds Serge Palu. Since the onset of AIDS in the 80s, the booming market of the glove and latex condoms has been accompanied by an increase in allergic reactions to this material. "The major advantage of guayule latex from rubber trees is its lower protein content, ten times less for guayule," enthuses CIRAD.In a note published last November, the center's researchers called for "seize on the ball of guayule rubber or Taraxacum kok saghyz as an additional opportunity to release humanity from its dependence on oil" and "compensate for the increase of allergy in the medical field.

An international seminar will bring together researchers on the subject, 14 and Oct. 15, on the site of Agropolis Montpellier.

ALSO READ:

"Stories to know: Why is it the rubber elastic?

The CAC 40 was passed Monday night at the close of the bar 3750 points (3%). Drawn up by the bank after the better than expected quarterly BNP, the Paris market should not stop there, according to technical analysis, which brings the index to the attack of 3770 points.

The Paris Bourse is expected to remain broadly in the green, but the pace of growth should be lower on Tuesday. This is what is happening in Asia this morning.

The program of the Tuesday meeting, noted that prices for industrial production for June in the eurozone will be published at 11:00. American side, the expected numbers today should facilitate the session, including spending at 14.30 and household income, and 16 hours, industrial orders in July and promises of housing sales in June

Meanwhile, the euro remains at its highest in three months against the dollar.The euro rose as optimism in Europe and at the same time, the dollar is falling while stock markets advance and the risk appetite grows.

The eyes of Sanofi-Aventis Genzyme

Sanofi-Aventis, Genzyme has sent a letter mentioning his interest in the company, a source close to the deal, adding that the two companies were discussing the offer fast cash advance loan.

The chemicals group Arkema has published quarterly results on Tuesday sharply up, saying he made "his best performance history" since its IPO in 2006. Quarterly profit was 119 million euros, against a loss of 114 million euros in the second quarter of 2009.Revenues soared 38% to 1.6 billion euros and gross operating profit (EBITDA) reached 241 million, against only 70 million a year earlier.

CNP Assurances announced Monday that it bought back 65% stake in MFPPrévoyance, a subsidiary of MFP Services, a group of specialized mutual insurance officials. This stake will cost 86.5 million euros to the French insurer.

General Health. The former manager of French private clinics and hospitals on Monday published a half-year revenue declined 4.7% to 1 billion euros, which also reported an increase of 8.8% in profit operating income, to 80.4 million.

In an interview with Le Figaro, Benoît Potier, Chairman and CEO of Air Liquide, ensures that the large industrial groups have restructured and fully benefit from the recovery.

After escaping the frying promised by the Dutch after their defeat under-the-octopus against the Spaniards, Paul joined the biggest stars culminating in his chosen sport.

Like David Beckham, Michael Ballack or Cristiano Ronaldo, Paul octopus spreads its charms suckers now on the walls German. While the silhouette of the cephalopod does not yet allow him to sing the praises of underwear luxury and heady fragrances, and this is now a chain of supermarkets that has focused its advertising services. But his British agent certifies: the animal has already 160 proposals on the tentacles, it will now study.

Like any celebrity, Paul meets a certain code of conduct: his salary, consistent and confidential, will go to charity, namely the protection of turtles in Greek waters.Yet for himself as Paul octopus should be afraid on his website devoted to recipes, supermarkets Rewe praise the "delicious taste" of the squid …