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The luxury goods group Burberry Wednesday reported sales slightly above expectations in the first quarter and raised its goal of worldwide turnover.

The British company, characterized by the pattern of tiles beige, black and red clothes she makes, announced a profit increase of 34% to 367 million pounds (416 million), against 340 million expected.

With orders higher than expected, Burberry is now awaiting a total income of sales, off China, increasing at constant exchange rates of about 15% to 20% instead of 15% as previously estimated.

For two and a half years, the Burberry share price rose sharply because of the brilliant results of the group and recurring rumors that he might be redeemed.

Around 8:30 GMT, was up 3.27% to 1,484 pence.

Total's announcement of imminent price increases at the pump stirs controversy in France. It does, however, that reflect the price of oil. But not of the same magnitude. Explanations.

The CEO of Total, Christophe de Margerie, said Saturday that the oil company would pass to the pump the recent increases in oil prices. The prospect of rising fuel prices in the coming days, when the French go on vacation, sparks debate.

How much the pump price will increase?

Christophe de Margerie has not quantified the expected increase. He just felt that it would be "not huge". According to the President of the French Union of Petroleum Industries (Ufip), Jean-Louis Schilansky, "it is very likely" that the prices paid by motorists, who had dropped by about 4 cents in recent weeks, even back .

What explains this increase?

"I am committed vis-à-vis de Bercy to pass on oil prices at the pump", but also to lower the rise, justified the CEO of Total. In fact, if oil prices had declined in late June after the surprise decision by the International Atomic Energy Agency (IEA) to tap into strategic reserves of its member states to supply the market, since they are reassembled. The price of Brent North Sea, which was trading at 105.32 dollars in London on 24 June, is now worth 117 dollars. On the New York Mercantile Exchange, a barrel of "light sweet crude" is in turn being 95 dollars, against $ 90 in late June. "The decision of the IEA point to draw on its stocks could only have transitory effects on gasoline prices, said Thomas Porcher, an economist at the GSS Research Lab.Oil prices and thus has started to increase, it is normal that prices at the pump also increases. "

Why is she doing up controversy?

On Sunday, Labour Minister Xavier Bertrand has stepped into the breach to demand "full transparency" on the decisions of oil. "When oil goes up, prices (pump) increase immediately. When the oil drop, it is always more time," he said. Oil tankers have immediately prohibited. Alexandre de Benoist, Chief Executive of the Union of independent oil importers (Carrefour, Casino, Cora and Auchan), said he was "exasperated by the accusations of government." "When the price drops, it is reflected when it rises, it passes it, and we do it as fast as declines for increases," he stressed."To say that the price evolution is faster in one direction than in the other is wrong," he replied in turn Jean-Louis Schilansky. However, two recent reports show that the oil well and truly benefit from changes in oil prices to rebuild profit margins at the expense of consumers.

The first, published in late May by the General Directorate of Consumer Affairs, Competition and Fraud (DGCCRF), notes that the oil does not fully reflected at the pump lower crude oil prices. So while the price per barrel of Brent North Sea fell by 8.5% between 2 and 15 May, the pump prices in France have fallen by an average of 3.9 cents years supermarkets and 3 cents in the stations of the oil majors, while the downside was 6 cents.More recently, a report from the GSS Research Lab shows that the fit is clearly lower in downward than upward. The study, which covers a long period of 20 years (1990 to 2011) and takes into account all the parameters for setting the sales price (including euro-dollar parity and state taxes) a 1% increase in oil prices causes a 0.12% increase in diesel prices. Conversely, a 1% drop in oil prices is reflected not only by a decrease of 0.07% of pump prices. According to the study, every penny of additional margin over 1.4 million euros a day to oil tankers.

Per liter of gasoline to 2 euros, is it possible?

After losing four cents in two weeks, fuel prices in France are starting to rebound last week, returning about two cents, according to records of the Directorate General for Energy and Climate (DGEC) released Monday.After a liter of diesel fuel by far the most sold in France, has traded an average of 1.3061 euro during the week ended July 8, a liter of unleaded has sold a 95, 4844 euro a liter of unleaded 98 1.5224 euro. Per liter of gasoline will reach there soon 2 euros, as was predicted in mid-April the CEO of Total? For Thomas Porcher, the international situation – strong demand from emerging countries, refusal of OPEC to increase production, Libya war, etc.. – That oil prices will continue to rise. He said it is possible to achieve the 2 euros per liter price of a barrel with a 150 or 160 euros. This perspective is highly probable.

The decline in France the rate of reimbursement of certain medications should have a limited impact on big pharma but could affect small laboratories whose product portfolio is older and less diverse.

To reduce the bill for Social Security, Safety Agency of Health Products (AFSSAPS) has decided to screen 100 to 200 molecules before the end of 2011 in order to judge their effectiveness.

Overall, all the products that we had an authorization on the market before 2005, 4,000 drugs, are potentially threatened with delisting if, in the jargon of the Health Authority (HAS), their "medical service "was deemed insufficient or weak.

Afssaps decides on the basis of recommendations of the Committee on the transparency of the Authority for Health (HAS) that regularly reviews all the French pharmacopoeia.

These measures led last year to reduce from 35% to 15% repayment rate of nearly 200 drugs.Among them, the disinfectant Hexomedine (Sanofi), syrup Polery Child and moisturizer Dexeryl (Pierre Fabre) and Tanakan Ipsen, treatment of memory disorders in the elderly.

A LONG PROCESS

Against the backdrop of suspected adverse liver surrounding the drug, the HAS is also insufficient to judge the medical service rendered by the Multaq, anti-arrhythmic Sanofi now reimbursed at 65%.

The recommendation paves the way for a delisting of a drug that the champion tricolor was a time classified as a product that can generate one billion euros in annual sales.

Thus, the scandal has led the agency Mediator, shunted by the Ministry of Health to monitor more closely the market.

In presenting his reform last June of the drug, the Minister Xavier Bertrand was clear: the community will cease to support the products to the service rendered insufficient.

"We will work in this direction and to screen the pharmacopoeia and eventually everyone will be an inadequate medical service will be subject to a delisting.This process is quite long, "says one to the Ministry of Health.

However, the impact of this decision is deemed marginal on the health of a sector whose growth is fueled by the challenges of aging and demand for new drugs.

In one study, the group Heuler Hermes notes that the profitability of the major players in the system could be threatened by the medium-term structural deficit of health insurance plans leading to lower reimbursement rates to contain health care costs.

But the world's leading credit insurance also notes that to address these pressures, "big pharma" know drastically streamline their costs, by reducing their workforce and by making acquisitions.

In fact, says the analyst of a major bank, "the impact of delisting is limited to large laboratories as they relate to the tail of the portfolio, especially the products of comfort, not innovative products."

The line thickness FOR SANOFI

For large groups such as Sanofi, "it will be the thickness of the line," said his side Arsene Guekam analyst at CM-CIC.

Antoine Dupuy Angeac, portfolio manager at fund management company Acropole Asset Management, also noted that Sanofi impact of government policies was offset by "an extremely drastic cost savings and lower research budgets / development. "

In fact, the unions complained recently in a statement the removal by the French laboratory of 4,500 jobs between 2008 and late 2014 with the closure or sale of eight sites in France.

However, laboratories are not listed as Fabre and Servier, may be more affected by possible delisting.

The experts also point to the particular case of Ipsen, over which hung the threat of delisting Tanakan.But the filing by the company of a new study evaluating the efficacy of the active ingredient of the product in preventing Alzheimer's disease could prompt the authorities to reconsider their position.

In any case, the laboratories which will not be reimbursed drugs will still be able to sell their molecules open access where prices are not regulated which can be used to partially offset the decline in volume related to delisting.

Still, the smaller laboratories are not always equipped to continue selling their products in the circuit.

Wall Street has had a session Thursday thanks to a strong optimism about the U.S. economy, and the Nasdaq has chained an eighth straight session of gains.

The Dow Jones rose 0.74% or 93.47 points at 12,719.49, while the S & P 500 was awarded 1.05% or 14.00 points at 1353.22.

By earning 1.36% (38.64 points) to 2872.66, the Nasdaq is up on its eight sessions to 8.3%, representing its best performance in eight days in two years.

The encouraging numbers of jobless and job creation have particularly supported the session, and instilled a sense of optimism on the eve of the release of unemployment figures for June

They are also good news before the announcement Thursday, the unemployment rate for the month of June

"We went through a period of several months of disappointing statistics.Now they come out better than expected, the markets on the rise, "said Gary Flam, portfolio manager at Bel Air Investment Advisors in Los Angeles.

The latter, however, warned that a withdrawal was possible, once integrated with net gains of the last meetings.

The distribution sector has performed particularly well, several of its representatives have announced better than expected sales for the month of June with their promotional campaigns.

Target has gained 6.67% to 51.67 dollars, 5.51% to Macy's and $ 30.46 Gap 5.18% to 19.28 dollars.

The S & P sector index distribution ended up 2.36%.

The fact-finding mission on the Senate job center suggests a particular governance reform and increased its means.

The mission of information on employment center of the Senate argued in a report Wednesday, thirty proposals to improve services to the unemployed by the public operator, suggesting a particular governance reform and increased its means.

In developing the text of 180 pages, mission, launched in February, has auditioned over 80 people, including the boss of employment center, Christian Charpy, and made five trips in the region, said during ' a press conference the chairman of the mission Claude Jeannerot (PS). "The report confirms the validity of the merger between the ANPE and Assedic", a "useful structural reform" that gave birth, two and a half years at employment center, said the rapporteur Jean-Paul Alduy (UMP).

But according to him, "mistakes were made" in his introduction, that have "degraded" support job seekers. To remedy this, the mission advocates including a "targeted strengthening human and reasonable means of employment center," and believes that "it would not be appropriate to continue the decline of its workforce, which began in 2011, as unemployment remains a high level. "

The mission provides a "finer segmentation" of job seekers so that they provide "more personalized service." In addition, the employment center governance should be reformed because it is "affected by recurring tensions" between its main funders, the state and Unedic, the report says.It proposes that Unédic – managed by the social partners – now sits on the Board of Directors of the operator and carries a real "negotiation" with the state to define its financial performance related, so that the This is now fixed at 10%.

In the vote of the report, Socialists and Greens senators abstained while the group CRC-GSP (Communist Citizen and Republican Senators of the Left Party) voted against. Job center has been critical of other studies including the Economic, Social and Environmental Committee (EESC), which had pointed to its shortcomings in supporting job seekers.

Tokyo Stock Exchange (TSE), the operator of the Tokyo Stock Exchange, offered to buy rival Osaka (OSA), Asahi newspaper reported Tuesday.

Competition increasingly fierce electronic platforms alternatives triggered a wave of mergers among major world stock markets that seek to merge under penalty of being absorbed or disappear.

The draft TSE, the fourth operator in the world in terms of trading volumes, offers to buy back all shares and transform OSE operator Osaka 100% subsidiary, Asahi said.

The newspaper, however, OSE should reject the offer of TSE, complicating the reconciliation of the number and the number two Japanese industry.

A spokesman for TSE said that nothing had been decided on this issue while a representative of OSE said not to be aware of the facts reported by Asahi.

Neither one nor the other has agreed to comment on the report.

A source had told Reuters in March TSE would open negotiations with the smaller competitors to respond to the many projects announced merger of both sides.

There is no "plan B" for Greece, which should complete its austerity plan to "regain a healthy economy," said Friday the governor of the Banque de France, Christian Noyer in an interview with Le Figaro .

Asked about the plan of French banks intended to allow a voluntary turnover Greek debt held by private creditors for maturities of 2011-2014, the Christian Noyer welcomed but felt that "some technical issues remain to be resolved and accounting" .

"This solution has the advantage of being based on voluntary (…) which is attractive for all financial actors, pension funds and insurance …It is a development that I welcome, "he said in this interview posted on the website and lefigaro.fr to be published in the edition dated July 2nd of everyday life.

Christian Noyer, who is also a member of the Governing Council of the ECB, also calls for a strengthening of European integration for the proper functioning of monetary union.

In the aftermath of the vote in Athens for a new austerity program required by the EU and the IMF to continue funding Greece, an agreement was reached Friday to release the next tranche of loans and advances were recorded on a background support.

The financial sector, through the Institute of International Finance (IIF) has also indicated its willingness to engage in a voluntary effort to support Greece, via a bearing Greek debt, an extension or maturities of debt buybacks.

For their part, the finance ministers of the euro area have advanced to Saturday's Eurogroup meeting originally scheduled Sunday in Brussels, highlights of the agreement by the directors of the Treasury to release the tranche of 12 billion euros expected in July as part of the plan with 110 billion agreed in May 2010.

The budget of the Queen of England will drop by 9%, taking into account inflation. It will increase to 39 million euros. Queen Elizabeth visits the University of Cambridge (April 2011)

The budget of the Queen of England is no exception to the austerity decreed by the British government, MPs have approved Thursday a record decline of 9% of public funds granted to the royal family for his official travel and commitments by 2015.

The monarchy must receive from the state 35 million pounds (39 million) in 2014-2015 to cover public events, said the finance minister George Osborne. "Taking into account inflation, this represents a decline of about 9%" of the budget allocated to the monarchy than today, he said.

The state will also consider how this money is used by the Queen."This is an important and historic expansion of control by Parliament and I thank his majesty to open accounts," added the Minister.

The cuts imposed on the royal family must still be approved by the upper house of British Parliament. They are part of the austerity program imposed by the government in power since May 2010 and composed of Conservatives and Liberal Democrats. The coalition intends to eliminate by 2015 virtually all of the public deficit, one of the highest among developed countries.