International & World Report

Sanofi-Aventis could make a slam. According to information from La Tribune, the French Commission of transparency would render an opinion "poor" on the Multaq, a drug for heart problems. For a close case, "the Multaq nothing new on the market," reports the Economic Daily.

So the reimbursement by Social Security for this treatment is only 35%. And the product, which received the worst rating in terms of "improving the medical service rendered" and should be sold cheaper than similar treatments. Poor reward for fifteen years of research on this product.

Sanofi declined to comment, according to the newspaper, which said that the Commission's opinion is only "advisory" from the Economic Health Products, under the Ministry of Health.It is this body that negotiates with the laboratory conditions with the Social Security reimbursements.

Sanofi is one billion euros per year

However, Sanofi is quite a setback. Largely symbolic. For the pharmaceutical group is criticizing France. The Multaq had already been judged as not providing cost-effective.

If he agrees that France is not a huge market for the group to 29 billion euros of revenue, reputation could take a hit.

Counter the loss of patent

The French giant has bet big on this treatment, while many patents will soon expire.Natixis analysts have estimated that the contribution to turnover in the long term would be "significant": Courtesy of European marketing, which allows the group to receive an exclusive ten years, and that obtained United States (exclusive of five years), Sanofi-Aventis is expected to garner about one billion euros per year on average until 2019 with this future blockbuster.

Specifically, in 2019, the "turnover of 800 million euros in 2019 globally for the product, after peaking at 1.45 billion in 2015, before falling U.S. sales from 2016, then their disappearance, "say the strategists, calling the Multaq" relay major growth. "

For them, Multaq is "one of the four pillars to an increase in earnings per share by 2014, with Vacina, Lantus, and emerging countries, where the group leader.

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Michel Barnier has arrived in London earlier this week, a white flag in hand. The new European Commissioner for Internal Market had to reassure the financial capital of Europe. Firstly because he is French, therefore, suspected to be a regulator born. Secondly, because his appointment had been made by Paris as a victory over the English.

In twenty-four hours, Michel Barnier has met Prime Minister Gordon Brown, Chancellor Alistair Darling, the president of the Bank of England, Mervyn King. And the lords of the City, big bankers and hedge funds, investment funds so maligned for their role in the crisis.The Commissioner also gave an interview to the influential Financial Times.

"I'm not horrible, but I'm not a nice cat (" I'm not horrible, but I am not a pussycat either "in the original English version)," slipped the European Commissioner for British journalists . Beyond the formula, the French assured the City that he wanted "to be a commissioner for a more unified market, not less." But "the market must serve the economy, not vice versa," he said in his speech to leaders of the City.

The visit of Michel Barnier occurs after the Commission issued a proposal for a hedge fund sector (Directive on alternative investment funds, known MWIA) payday loans ."Investment funds are an important part of the financial system," he said, representing over 50% of daily trade in the market share. "It is vital that they are subject to regulation and adequate supervision," he added.

"Red lines"

According to the Financial Times, the leaders of investment funds have emerged reassured of their encounter with "Frenchy." "They appreciated the Commissioner's apparent willingness to try to understand their concerns," reported the Economic Daily. Adding that the City leaders have warned that British negotiators should be careful to protect certain "red lines" that Brussels should not be crossed.

Starting with the authorization could be given to non-European funds to come and sell their services within the EU."Have European funds to meet the high standards of transparency, without requiring the same from those located outside the EU would not be appropriate," Michel Barnier acknowledged. Funding fear ultimately, the Financial Times that the principle of market liberalization, to which they belong, or poorly implemented.

After the large deposits, Emmaus starts now in the "bric-a-brac neighborhood. Based in Paris at Centquatre (the center of artistic creation of 104 rue d'Aubervilliers, XIX), the first such shop opened this week. Nine others should follow in the coming three years after an agreement signed between Emmaus and the City of Paris. In these knick-knacks, buyers will always find so many clothes, furniture or dishes at any price, but small retail space will be reduced (200 to 300 m2) and * opening hours extended to better integrate neighborhood life.

So far, the association only had a Paris address, located at 80 boulevard Jourdan (XIV). For two years, more than 3,000 people flock every Saturday on the 1,000 m2 warehouse for a few hours to exhaust the stock of products recovered during the week.A success that led Emmaus to look for other sites.

It must be said that environmental awareness has boosted donations of used goods while the economic crisis has increased the number of customers looking for bargains. Across the country, 85,000 tonnes of textiles, 65,000 tonnes of furniture and 20,000 tonnes of electrical equipment have been collected by Emmaus in 2008. The resale of these products used generated 148 million euros in 2008 against 142 million in 2007. The 2009 figures should be even better.

Originality of the Parisian experience: the addresses are managed by the association Emmaus Challenge, an offshoot of Emmaus, which uses reintegration of employees and not members of the community."Large urban area offer plenty of room in emergency accommodation, but not many opportunities for employment," says Charles-Edouard Vincent, president of Emmaus Challenge. With its bric-a-brac, it currently employs 80 employees in rehabilitation and aims eventually to bar 300. An experience that is limited for now to the capital which has the largest deposits of products to be collected, and the broader population in need.

Rest now, with the assistance of the City of Paris, to find the space available to open additional stores. And also to find an alternative store to the flagship Boulevard Jourdan. This temporary space is indeed close its doors by the end of September.

* Bric-a-brac Centquatre, 104, rue d'Aubervilliers (XIX). Open Wednesday to Saturday from 15h to 18h. Receiving gifts: Tuesdays from 15h to 18h and 11h to 18h Wednesday through Saturday.Ref.: Www.emmausdefi.org or www.104.fr, under "Shops".

Gold continues to see progress during his flying record after record for over a month and a half. This Monday, November 23, ounce of gold was traded on the London Bullion Market cons 1170 U.S. dollars, the highest price ever recorded on the market.

This new record was set when the confidence of investors vis-?-vis the dollar continues. On Monday, the euro gained ground against the dollar, approaching the bar $ 1.50 per euro.

The persistent weakness of the dollar encourages central banks to diversify their reserve assets, and increase their gold reserves. India and Sri Lanka have recently made massive purchases of precious metals. India has procured 200 tonnes of gold via the International Monetary Fund earlier this month.Sri Lanka's share increased its gold reserves of 5.3 tonnes in September.

The yellow metal continues to play its role as a safe haven

Although enshrined in recent weeks in a bullish pattern, the uncertainty surrounding the stock markets is another factor increasing the demand for gold. The yellow metal continues to play its role as a safe haven, especially in the period probably know that currently the world's economies, but seems even become a fully fledged investment.

"For the first time in twenty years that I see so many prestigious managers share the same strategy (investment in gold)," said Bradley Alford, the hedge fund Alpha Capital Management, Market Watch. "Some of these investors are icons of the industry, with more than fifteen years of management at their counter. He is lost in advance to play against their tendency.They have not become billionaires by making bad paris "he adds.

However, markets are unique in that a widespread enthusiasm for asset class often ends by the service, building up and then burst the bubble that this enthusiasm had itself generated.

In the competitive global economy, information is a strategic data. A leak on a response to tender may lose a market. Data protection is a key issue for companies, as control of its communication. To educate businesses, particularly SMEs, to these strategic challenges, the Supreme Council of Military Reserve organized a seminar on Wednesday and Thursday at the Hotel National des Invalides in Paris.

Having explained the concept of intelligence and have identified the countries most active in the field, mainly Anglo-Saxons and China, methodologies have been submitted for planning an operation to protect its information or develop an operational decision.Each topic is synthesized in a small pamphlet, a "Survey" conducted by the consulting firm Strategy ITB, downloadable from its website. "A fifth Handbook, explaining how to develop a strategy of influence, will be available soon," said Brice de Gliame, CEO of ITB. "These concise booklets are intended to help businesses be more competitive, while remaining within the law."

Speakers at the seminar and participating companies explain the challenges of these military methods suitable for businesses: