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Oil spills: the oil sector arming

Exxon Mobil, Shell, Chevron and ConocoPhillips have announced the establishment of an emergency fund of one billion dollars for the construction of a rapid response system in case of oil pollution in the Gulf of Mexico. Each group will invest up to 25% in the fund, which does not BP. According to their press release, the combined oil and want to be able to intervene by 3000 meters deep, containing leaks up to 100,000 barrels per day.

In Washington, the House of Representatives passed two bills. One aimed at improving safety on oil drilling sites and the other on prevention technologies and management of oil spills.

BP, which aims to give ten billion dollars of assets to fund the cost of the flight on its platform in the Gulf of Mexico, awakens the interest of India bad credit payday loans.Indian Minister of Petroleum, Murli Deora, said studying the possibility of taking stakes in a gas field of British oil in Vietnam. But for now, BP is focusing on meteorological considerations, a depression in the Caribbean, threatening to become a hurricane in the Gulf of Mexico by 48 hours. BP therefore plans to suspend his final attempt containment of the leaking oil. The sealing work, in progress, would be deferred for two weeks already after three months of unsuccessful attempts.

Marini is to meet the reduced rate of VAT

The time is more than ever to the rigor and hunting revenue. The general rapporteur of the Finance Committee of the Senate, Philippe Marini proposes to raise interest rates reduced VAT are entitled to the restoration and renovation of homes by 5.5% to 8%, in an interview with the daily La Croix. "The challenge of this increase of 2.5% reduced rate, which could occur as early as 2011, is 7 billion euros per year," said Senator UMP de l'Oise.He is "convinced that we can not drive a controlling public deficits without addressing a VAT increase," because "that's where we found the most significant fiscal effects.

VAT in the catering dispute

The president of the centrist Senate Finance Committee, Jean Arthuis, for his part argues for the introduction of VAT "between 10 and 12%" to local shops, including restaurants instant payday loan no TeleCheck. The Budget Minister Francois Baroin, had also mentioned in June the possibility of raising the VAT paid in the restaurant, before retracting. A year after the VAT reduction from 19.6 to 5.5% in all the restaurants, the measure of criticism towels.

Plea for a wide shot of plane

And as the government seeks to save 100 billion euros by 2013, envisages various tracks. As such, Philippe Marini believes that "all preferential arrangements under the income tax, but VAT, pursuant to corporation tax, the solidarity tax on wealth, can be affected by the reduction of the tax expenditure.

Pensions: unions still oppose the reform

J-1. That Tuesday morning Eric Woerth will present his Cabinet bill on pension reform. This text provides for the postponement by 2018 the legal age of retirement at age 62 (as against 60 now) and increase by 2020 the contribution period for a full pension at 41 5 installments. It also proposes to raise over 10 years to 10.55% of gross salary pension contribution rate of employees.Meanwhile, the government plans to introduce draft consideration – unprecedented – the strain at work to enable employees who have had a difficult career to continue to retire at age 60 but also extend the system "long careers "which allows people who started working early to liquidate their retirement before age 60.

"Unjust and unacceptable"

Trade unions, traditionally opposed the reforms they consider "unfair and unacceptable" because it would further inequalities have already planned to protest during the presentation of the Council of Ministers."The proposed reform does not respond to questions of employment, particularly youth and seniors, or the reversal of gender inequalities, or to the recognition of the hardship … It refers to the uncertainty of future generations sustainability of pension secured by the division, they were justified in a statement.They also criticized the closure of financial reform that puts "more than 85% of efforts" to employees only and require "a different distribution of wealth produced, particularly through higher taxes than expected capital income and senior income 100% free credit report.

Eric Woerth's proposal to improve the bill at the time of the examination to the National Assembly from September 7 on three aspects of the text (strain at work, and long careers polypensionnés) has yet not had the desired effect. Even the beginnings of a better consideration of the prevention of the hardship brought up by the entourage of the Minister of Labour at a meeting with labor, has left them unmoved. "We want a broader discussion, said Friday Eric Aubin, the negotiator of the CGT, after an interview Rue de Grenelle.The position of the government that it seeks to show a continued dialogue. But we ride seriously and it confirms our intention to build a strong mobilization on September 7. "

On this day, the unions have scheduled a new day of strikes and unit mobilization, hoping to do better than June 24 when 800 000 people (and by 1.9 million CGT) had beaten the streets across France to protest against the postponement of 60 years. And thus weigh more on debates in Parliament. They do not despair, no longer convinced by that number of MPs to amend by Social Affairs Committee – where the text will be examined from July 20 to 22 – the bill. The CFDT has also planned to "harass" the summer MPs in their constituency.Act II of the 2010 pension reform does so may just be beginning.

"SPECIAL – The challenges of pension reform

Apple has already sold 3 million iPad

The success is well meet up for the latest Apple products, the iPad. The company announced the Apple had sold more than 3 million copies of his tablet. And less than three months after its launch. In good shape Thursday, June 24 launch of the iPhone 4.

Apple has delayed for one month out of its touch pad internationally because of the huge demand in the United States, which had exceeded its expectations. Next month the tablet, which combines the functionality of a mini-computer, a player and a media player must land in nine additional countries (Austria, Belgium, Hong Kong, Ireland, Luxembourg, Mexico, Netherlands, New Zealand and Singapore).

News that support the Apple stock offering. Quoted on the Nasdaq, Apple still wins the title more than 1.63% to 274.70 dollars, close to its highest of 275.97 dollars.But analysts are beyond its record close reached in last Friday, but well below its potential, if one believes the latest estimates of analysts. For the more optimistic, and like the popular analysts at Deutsche Bank, the price of Apple stock could still earn $ 100, $ 375.

44 million iPhones sold in 2010 4

Last week, Apple and the U.S. operator AT & T, which has exclusivity on the iPhone in the U.S. have had to suspend the process of pre-orders, their system is clogged by the enormous demand, and Apple CEO Steve Jobs had to apologize.

The new multifunctional phone, especially with a high definition screen, a feature allowing telephone conversations and video editing software video, has landed Thursday in U.S. stores.Some analysts believe the iPhone will sell 4 million copies to 44 this year, 55 million units next year.

Fears about the future of BP are plunge on the stock exchange

Very bad trading day Wednesday for the title again BP. In London, the stock fell 4.24% to 391.55 pence. On Wall Street, the same day, the stock has tumbled 15% to just 29 plsu dollars.Pour many observers, the cost of the oil spill in the Gulf of Mexico is likely to jeopardize the very existence BP. "The action suffers now fears the very future of BP. It is no longer just a noise reduction of the dividend. Now it's survivability in question, "said Jon Najarian, founder of the news website optionMonster.com.

At the London Stock Exchange, the fears were mostly related to the fact that BP would eventually suspend payment of its dividend. "We are resigned to the fact that there may be a suspension of the dividend," said Tony Shepard, an analyst at Charles Stanley, quoted by Reuters.

Last Friday, though BP has reaffirmed its intention to announce to its shareholders on July 27 the amount of its interim dividend by way of the second quarter. Dividends paid by the group representing some 10.5 billion dollars (8.7 billion euros) per year.

Yet another bad news for the oil group that is not due to his inability to pay, but the fact that the U.S. authorities there are not favorable payday advance. "It does me no problem that BP complies with its legal obligations (to its shareholders, Ed), but I want them to know they have a moral and legal obligations here in the Gulf, warned Tuesday Barack Obama.

The U.S. authorities have also sent an ultimatum to compel them to BP by unveiling its plans to 72 hours to stop the leak.

"BP must state its plans for its parallel initiatives ongoing and alternative oil recovery, including establishing a timetable within 72 hours after receipt of this letter," says the letter from the admiral-cons Coastguard James Watson chief operating officer of BP, Doug Suttles, and dated Tuesday.

With the installation of a funnel, BP has accelerated since last week the recovery of oil leaking from the wells to 1,500 meters below the surface of the water for more than seven weeks. But the water continues to move towards the U.S. coast and crude oil continues to flow.

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Goldman Sachs accused of obstructing an investigation

The U.S. investment bank is once again slammed. After being accused of fraud by the SEC, the policeman of the American Stock Exchange, Goldman Sachs is now summoned by an American committee. The Commission of Inquiry on the financial crisis (FCIC) which, by its investigations, seeks to identify the roots of the financial crisis, accuses Goldman Sachs of failing to comply in a timely manner to requests for disclosure and interviews.

The institution would, according to the FCIC, responded voluntarily incomplete and unsatisfactory to queries. Members of the Commission indicated that, after having asked some very specific, it had received investment banking unreasonable volume of documents, nearly 2.5 billion Web pages without an index, which does not meet questions."Our view is that they were very unhelpful, they do not provide us the documents we requested," said its chairman Phil Angelides.

The leaders of Goldman Sachs categorically deny these accusations. A spokesman for Goldman Sachs said the bank "continues to provide the information requested FCIC.

Spain revises downward its growth

This is an ad that should delight the financial markets Friday, although it was more or less expected, after Spain was rocked by austerity. A foretaste of what awaits the European stock exchanges on Friday, was felt on Wall Street who lost nearly 4% on Thursday night, just missing to descend below 10,000 points. Unheard of for a year!

Contagion Greek-Spanish portugo

The Spanish government has significantly lowered its estimate on Thursday night growth for 2010. The Gross Domestic Product (GDP) should grow as well as 1.3% this year, against a previous estimate of 1.8%.

"The fiscal consolidation process will result in a reduction of forecast growth," said Spanish Minister of Economy and Finance Elena Salgado.The new forecast reflects the austerity measures taken by other EU countries like Greece and Portugal "which can also affect" the Spanish growth, "she added.

Unemployment exceeds 20%

Shortly before the announcement, the Socialist government of Jose Luis Zapatero adopted a decree-law providing for the implementation of drastic cuts in public spending for 2010 and 2011, totaling 15 billion euros.These measures are intended to "expedite the process" of reducing public deficits, which rose to 11.2% of GDP last year.

These new measures will have a "clear social impact," acknowledged the head of government, facing an unemployment rate above 20% of the workforce.

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The EU agrees on financial aid in two parts

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Agreement between the EU, the IMF and Greece on an aid plan

Considered "strong" and "credible" by European Commission President Jose Manuel Barroso, the program of multi-year budget cuts proposed by Greece to return to high deficits and debt decent justifies the activation of the aid plan finances by the European Union (EU) and the International Monetary Fund (IMF).

Greek Prime Minister George Papandreou said on Sunday a new "sacrifices" that meet the requirements of the IMF and the EU, adding that the new austerity measures against officials and retirees of public sector salaries and save private sector.

A deficit below 3% in 2014

"We are all called to make a choice. The choice is between the collapse or a program of structural change.The government has decided to save the country ", said Sunday the Minister of Finance, George Papaconstantinou.

Save the country, European language, is to establish an austerity plan that allows the return of a budget deficit below 3% of GDP, the ceiling required by the Maastricht Treaty to cement his place in the EU.

Thus the Minister of Finance has proposed to launch an "economic agenda that includes efforts to reduce the budget deficit of 11 percentage points of GDP or 30 billion euros – more than 4.8 billion already announced for 2010 – from today and the next three years "for a return under the famous European threshold by 2014.According to estimates by the Greek government, the deficit would be 8.1% this year, 7.6% in 2011, 6.5% in 2012, 4.9% in 2013 and finally 2.6% in 2014.

From his side, public debt is expected at 133.3% of GDP this year and should continue to rise, up 149.1% in 2013, before beginning to recede in 2014, 144.3%.

Drastic measures

Among the main measures announced included a wage freeze and the removal of 13th and 14th month salary in the public service. There will, however, no change in private sector wages.

The minimum age for retirement is 60 years. Public investment will be reduced and a fund to help the banking system will be implemented.

Starting in 2010, is also provided a further increase of one to two points of the VAT (value added tax, which is already 21%, France is at 19.6%) fast cash advance loan.

A financial assistance plan to ensure the stability of the euro area

Ending speculation and ensure the stability of the euro area. These are the priorities for a Europe troubled for several weeks by the threat of bankruptcy of one of its members.

While rates have long known Greek fevers to worry about the financial world right, and that the euro has depreciated at a rate fears about the ability of Greece to declare bankruptcy, the very viability of the model European Union has been threatened. Political tensions between the heads of state of member countries have revived the debate on Europe in a failure of coordination.

The amount of funding to be given jointly by the EU and the IMF has not yet been revealed, but it will be "unprecedented in the world. The French Minister of Economy Christine Lagarde on Saturday evoked total amount of support within the range suggested by the IMF and the European Commission between "100 and 120 billion euros". She said it was "a plan over three years, the current year, 2011 and 2012." According to analysts at Natixis, the country would need 130 billion euros over three years.

In any case, Greece might blow. The country will repay its term of almost nine billion euros to be repaid on May 19 next.

Never again

Nicolas Sarkozy and Angela Merkel intend to take "initiatives in the coming days" for Europe to strengthen monitoring mechanisms within the euro area, expedite its work on the fight against speculation and improving the transparency of products derivatives and make further proposals on the regulation of rating agencies.

For these rating agencies, Banier Michel European Commissioner for Internal Market and Services, expressed support on Friday to create such an entity in Europe that would complement three existing credit rating agencies, all U.S., Standard & Poor's, Moody's and Fitch.

"SPECIAL CASE – Greece, a challenge for Europe

Steve Jobs blames Adobe and Flash

The dispute between Apple and Adobe on the Flash format invites himself to the highest level. In a lengthy open letter published Thursday, Apple CEO Steve Jobs has explained the reasons which led it to ban videos and animations in Flash on iPhone, iPod touch and the iPad. Although Adobe representatives have repeatedly expressed their incomprehension and criticism bristling barriers around Apple products, Steve Jobs said that the decision was made solely on technical criteria and not commercial.

The co-founder of Apple and provides no fewer than six reasons for this refusal. Widely used on the Internet, Flash is a plugin "100% proprietary" Apple can not improve. However, it would be slow and insecure. It would reduce the autonomy of mobile devices and would not touch some of the gestures.It would not, either, if necessary to take advantage of the Internet, since the videos from YouTube and other sites have already been converted into a format readable by devices from Apple, H.264. Finally, the creation of applications and Flash games, designed to run on multiple platforms, not exploit the best features of the iPhone.

"Flash has been created during the era of PC to PC and mouse," says Steve Jobs, therefore, recommends that Adobe to focus more on the future "instead of criticizing Apple for having drawn a line under the past" . The future, he says, is to open formats on the Internet, including the HTML5. To the chagrin of Adobe, these new tools can include videos on websites without having to install Flash on their computer or mobile payday loans.Already, U.S. media have changed their site to include video in HTML 5, still remember Steve Jobs.

Crisis communication

Nevertheless, the lack of Flash in web browsing is still among the most frequent errors associated with the iPhone and iPad. It also applies to Apple's repeated criticism on the Internet. During April, an employee of Adobe has publicly recommended Apple to "get lost". Its competitors also benefit. Earlier this week, the head of the development of Android, Andy Rubin, has compared the restrictions of Apple's policy of North Korea and announced that future phones will integrate Google Flash. In Silicon Valley, rumors suggest that the case could be brought to justice.

The open letter published Thursday shows that these incidents are taken very seriously at Apple.Steve Jobs had already used the same method to break Apple's other crisis situations. He responded to Greenpeace, which accused the Mac to be too environmentally unfriendly, had determined the end of the locks on music (DRM) and announced his illness and withdrawal. In this battle as technical as media, Steve Jobs, however, avoided relying on an unlikely ally, Microsoft, whose new mobile operating system, Windows 7 Phone will not be compatible with Flash.