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NEWS COVERAGE - FRANCE

ECONOMY AND BUSINESS NEW FROM THE PAST WEEK
September 4th , 2015
Business Sweden in Paris

SANOFI AND GOOGLE JOIN FORCES TO PREVENT

DIABETES
On Monday, 31st of August, the French pharmaceutical group Sanofi announced a partnership with the Life Science
division of Google with the aim to fight diabetes.
The goal with the partnership is to develop understanding, monitoring and treatment of the chronic illness and hence
improve the quality of life of the patients suffering from diabetes type 1 and 2.
According to the International Diabetes Federation, IDF, the condition The illness affect today nearly
400 million people and is expected to affect
600 million people by 2035

The partnership is a strategic move from Sanofi,

considering that diabetes treatments last year
accounted for 21% of Sanofis turnover of 34 million dollars
and that the patent Lantus (most sold insulin worldwide)
expires this year.

SOURCES 1,2
BUSINESS SWEDEN

4 SEPTEMBER, 2015

LVMH RECRUITS APPLE EXECUTIVE IN ORDER TO

INCREASE FOCUS ON DIGITALIZATION
The Apple executive Ian Rogers has been appointed head of digital for LVMH, the luxury and fashion house
Ian Rogers used to run Beats21, Apples global radio station for streaming music.
According to Bernard Arnault, chief executive of LVMH, the extensive experience in high-end digital venture is a
strategic asset to develop LVMH leadership within digital luxury field.
While the luxury market has a steady growth but with an increase limited to 5% in 2014
Online sales, including high-end products continue to grow rapidly, estimated to have increased by 30% in 2014,
after an average annual increase of 28% between 2011 and 2013.
The strategic choice to recruit Ian Rogers is evidence of the growing ties between digital businesses and luxury groups

SOUCRES: 3, 4
BUSINESS SWEDEN

4 SEPTEMBER, 2015

MYRIAM EL KHOMRI - FRANCES NEW LABOUR

MINISTER
On September 2nd, Francois Holland appointed the third
labour minister since he came to office in May 2012,
Myriam El Khomri, replacing Francois Rebsamen.
Myriam El Khomri is relatively new in politics but has
previously worked at the Paris town council within
security, crime-prevention and child protection.
The main challenge of Myriam El Khomri is to quite the
rise of unemployement in France (measured 10,4% in
July 2015)

The main challenges for the new labour minister will

concern:
A reform of labour law

Unemployment insurance and personal accounts of

activity (CPA)
Initiating negotiations with labor unions

Francois Hollande has stated that he wont run for reelection in 2017 unless the unemployment rates
decrease.

SOURCES: 5, 6, 7
BUSINESS SWEDEN

4 SEPTEMBER, 2015

MOSCOVICI: EUROPE READY TO COUNTER CHINA

SLOWDOWN
Due to the recent turmoil in the financial markets and Chinese economy, ministers of G20 meets in Ankara this
weekend to discuss potential threat of a Chinese economic slowdown.

The EU economic commissioner and former French finance

Unemployment in the European Union

minister, Pierre Moscovici, is however reasonably optimistic

concerning the EU and Eurozone.
Moscovici argues that Europes economy will continue
to be affected by recession throughout the year but will
grow steadier 2016, based on:
The unemployment rate in the EU hit its
lowest level since 2011 this Tuesday
Continued low oil prices and aggressive easing by
central banks

SOURCES: 8,9,10
BUSINESS SWEDEN

4 SEPTEMBER, 2015

SOURCES
1.

http://www.usine-digitale.fr/article/life-sciences-google-decroche-un-partenariat-avec-sanofi-dans-le-diabete.N346774

2.

http://www.lesechos.fr/journal20150901/lec2_industrie_et_services/021292401518-sanofi-et-google-sallient-dans-lalutte-contre-le-diabete-1149444.php

3.

http://www.ft.com/intl/cms/s/0/7a1f2f6a-50b8-11e5-8642-453585f2cfcd.html#axzz3kWTewRZK

4.

http://www.lesechos.fr/journal20150902/lec2_entreprise_et_marches/021296187829-lvmh-debauche-un-dirigeantdapple-pour-accelerer-dans-le-numerique-1149804.php

5.

http://www.lesechos.fr/journal20150903/lec1_france/021298493682-emploi-el-khomri-le-pari-surprise-de-hollande1150155.php

6.

http://www.lesechos.fr/economie-france/social/021298648840-les-dossiers-chauds-qui-attendent-myriam-el-khomri1150021.php

7.

http://www.wsj.com/articles/francois-hollande-appoints-myriam-el-khomri-as-frances-labor-minister-1441197144

8.

http://www.theguardian.com/business/2015/sep/02/imf-china-slowdown-could-keep-global-interest-rates-low

9.

http://www.ft.com/intl/cms/s/0/b98209f0-5169-11e5-b029-b9d50a74fd14.html?siteedition=intl#axzz3kaiNTIlM

10. http://data.lesechos.fr/pays-indicateur/union-europeenne/taux-de-chomage.html

BUSINESS SWEDEN

4 SEPTEMBER, 2015