Business News & Financial News

News Corp. has been beneficial in the fourth fiscal quarter thanks to strong performance of its cable networks and advertising revenue growth of its newspapers.

The media company posted a profit of 875 million, or 33 cents per share for the quarter ended June 30, against a loss of 203 million (eight cents per share) a year ago when News Corp recorded a asset impairment charge.

Turnover rose 5% to 8.11 billion dollars. The Thomson Reuters consensus I / B / E / S gave a turnover of 8.05 billion.

Action News Corp. gained 2.9% to 14.25 dollars after the close of Wall Street, in response to these results.It grew by 12% since the beginning of the year, while the S & P movies and entertainment took 8% in the same time.

Rebound in advertising revenue and lower costs led to a growth in operating income by 20% in the press in the U.S. and internationally. The operating profit of its cable division has increased 31%.

In contrast, there was decline results from the satellite television and commercial services, and loss of the digital divide, including social network MySpace.

The International Monetary Fund forecasts growth of 1.4% in France this year, as the government, but is more cautious thereafter, and questions whether the government deficit back below 3% of GDP before 2015.

In its annual report on France on Friday, the IMF welcomed the "ambitious reform program" implemented by the authorities, welcomed the "major reform" of pensions and notes that French banks are strong, as the Recent tests have shown the organized resistance in the European Union.

But he stressed the risks to future growth, although France has fared better than its neighbors to the recession, and recommends giving priority to a "substantial and credible rebalancing" of public finances.

After a contraction of 2.5% in 2009, the institution sees gross domestic product of France grow 1.4% this year – the same prediction that the government – and by 1.6% in 2011, 1.8 % in 2012 and 2.0% in 2013.

These estimates are similar to those published in the April World Economic Outlook of the IMF, while those on the deficit is more optimistic.

After 7.5% in 2009 and 8.0% in 2010 (again forecasting government), the deficit would decrease to 6.1% of GDP in 2011.In April the IMF was around 7%.

"This is the result of a conference on fiscal deficits in July and pension reform in June," Harris says one in Bercy where we judge the IMF and Paris "on the same wavelength" .

"It's a good report of the IMF for economic policy the government," says one.

IMF WANTS THE ASSUMPTIONS OF "REALISTIC"

However, the IMF is the deficit to 3.9% of GDP in 2013 and, according to his script, is that in 2015 he would return below the 3% limit set by the Maastricht Treaty.

The stability program of France plans to achieve the 3% deficit in 2013, subject to a growth of 2.5% from next year.

"To make the effort of more credible, it is important to establish the framework for budgetary planning on realistic macroeconomic assumptions," the IMF in his notes, echoing criticism by the European Commission issued in March when he was sent to the stability program.

During a conference call, one of the reviewers, Erik de Vrij, however relativized this message indicating that the deficit target reduced to 3% in 2013 could be achieved if the pension reform is completed.

"By including the pension reform, there is a good chance of reaching 3% deficit by 2013," he said.

Published annually after the visit of a mission, the IMF notes is rather complimentary to the government's economic policy but calls for greater efforts on reforms and fiscal consolidation.

"A fragile recovery is underway in France," it said.

Her limited exposure to international trade, the existence of a strong enough financial sector, the importance of social safety nets and measures to relaunch "well designed" have enabled France to resist the global crisis that most comparable countries, the IMF noted.

But, he adds, 'the characteristics of the French economy, which have protected partly during the recession are also those who probably will slow the recovery.

"PUSHED MORE INITIATIVES"

The unemployment rate of 9.5% in 2009 to reach 10.0% on average this year and peaking at 10.1% in 2011, before easing to 9.7% in 2012 and 9.2% in 2013 according to the IMF.

At the same time, public debt would reach 84.3 in 2010% of GDP against 78.1% in 2009 and would continue to deteriorate until 2013, when this ratio reach 90.3%.

"The imminent consolidation of public finances in France and most European countries will weigh on demand, and concerns that continue to generate sovereign risk require continued vigilance," said the Fund, requesting the authorities to "implement with their energy reform program to support the recovery. "

On the fiscal consolidation policy, the IMF considers that the measures already announced on revenues and expenditures are "large" but said that "further efforts are needed at all levels of government to achieve fiscal consolidation is the medium term ".

The institution also delivers a good report on the reform of banking regulation, acknowledging in particular the establishment of the supervisory authority which has for the month of March all supervisors and approval of the bank and insurance in France.

Business start-ups have increased by 1.0% in June to sign up 43.2% over 12 months, according to figures released Tuesday by the INSEE.

In June, the INSEE counted 24,182 new businesses in seasonally adjusted data (+18.4%), a figure which rises to 50,508 by counting the self-entrepreneurs, the figures for the latter being in the raw data.

The lower number of new self-entrepreneurs in June was offset by higher self-creations out contractors, "said INSEE in its statement.

In May, the number of new non-auto business had increased by 2.7% to 20,426.Including these, INSEE had counted 50,021 designs.

Year over year the last three months, the cumulative number of creations in the second quarter 2010 was up slightly compared to second quarter 2009 (+2.1%). The sectors that contribute most to this increase were the construction and industry, noted INSEE.

In the first six months of the year there are 200,313 requests for creations under the self-contractor.

The statute, which simplifies administrative procedures and is fiscally advantageous, has attracted 320,000 people its first year and the Secretary of State for Trade Herve Novelli in hopes as many this year.

The release can be found at www.insee.fr

The World Trade Organisation has postponed the publication of a report on an action by the EU against the United States regarding subsidies granted to Boeing.

The progress report was published as a confidential WTO panel on the cons-procedure initiated by the Europeans was due July 16, two weeks after the decision of the international institution holding illegal subsidies received by Airbus from European governments.

"I can confirm that the president did speak with the parties concerned and said that because of the complexities of the case, there would be a delay in publishing the report," said Keith Rockwell, spokesman for the WTO.

The United States and Europe accused each other of illegally subsidizing their respective aircraft manufacturers.

The French consumer confidence deteriorated in June for the fifth consecutive month, reflecting their concerns about public finances and pensions, according to the monthly survey published by INSEE.

The summary indicator of households' opinion on the economic situation fell to -39 from a point at its lowest since May 2009.

It reached down nine points since January and the index is 21 points below its average since the inception of the survey in 1987.

"It can not be merely a melancholy passenger since the index is in sharp decline since the beginning of the year, indicating the growing concern of the French on the country's economic situation" said Alexander Law, an economist at the institute Xerfi.

The survey was conducted among about 2,000 households from May 29 to June 17 in the midst of preparing the pension reform and government announcements on fiscal consolidation but before the cons-performance of the Blue world.

Households have an opinion on virtually stable financial situation, past and future and the opportunity to make major purchases.

Renewed worries ON UNEMPLOYMENT

But they are much more pessimistic about the evolution of living standards and report renewed concerns about unemployment.

The balance of opinion regarding the future standard of living continues to decline in June (2 points from May and 19 points since January) and households think again that the standard of living past has declined (-3 points Compared with May after four months of stability).

While the number of unemployed has risen again in France in May, households are more likely to anticipate an increase in unemployment (5 points).

After falling from 8 to 89 between January 2008 and June 2009, the balance of opinion regarding the outlook for unemployment is down and has stayed at around 65 points, well above the average long period ( 33 points), INSEE said.

In contrast, households believe that past inflation has remained stable and they do not expect higher prices.

"Undoubtedly, the French consumer is in great danger," warned Alexander Law.

"Gradually, all its drivers are switched to red: the scrappage in the car was dismantled, inflation is rising and unemployment has further increased.Turning point of rigor that was initiated in the Hexagon (as elsewhere in Europe) not help matters in the case.

For Alexander Law, "we must draw a cross in 2010 in a contribution worthy of the name of consumption growth, so that this component has assured itself between 50% and 100% of the economic expansion of France for nearly a decade.

"Without additional support, GDP growth hardly reaches 1% this year, so it should be at least double that for hope to create sustainable jobs," said Alexander Law.