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.
Late fees; car payments, an unexpected hospital visit. Those are legitimate reasons to secure a fast cash personal loan.
François Fillon has dropped the word naturally. He who rejects the word rigor in Paris, finally telling the truth in Tokyo. "Of all the state budgets, the only one who is not subject to discipline is that of Higher Education and Research, argues the prime minister, at the turn of a sentence imposed before an audience of five hundred Japanese businessmen and under the approving glance of Christine Lagarde.
True to his outspokenness, the Minister of Economy has not taken greater care to reassure the business community Nippon concerned about turmoil in Europe since the sinking of the Greek economy. "There is not in France, I can assure you of hidden deficits. We have a package of structural deficits, but our accounts are audited very seriously, "warned the owner of Bercy.What has been told to François Fillon not without humor: "Unfortunately, there is no hidden revenue either!"
The European austerity plans discussed at length
He came to Japan to reassure businessmen and Japanese bankers, Francois Fillon has long defended the austerity plans implemented in the euro area. The European currency crisis causes, in fact, Japan concern and uncertainty about the strength of the European Union. The major daily newspaper Nikkei has made his One, two days ago, the 30% decline in investment in the euro countries during the first half of 2010 faxless cash advance.
"I understand that, seen from Asia, our operations can sometimes be difficult to perceive and understand.But Japan's national interest is not to turn away from the euro, "Francois Fillon urged by recalling that Europe is" the great market of the developed world with 500 million consumers. Incidentally, he ditch tackle the Anglo-Saxon does not deliver, he says, a "balanced view of the success of the European Union" and invited his audience to read the German press and French.
Before leaving Tokyo, Francois Fillon met with his counterpart Naoto Kan. In addition to macroeconomic issues, the two men discussed several issues of the Franco-Japanese: nuclear, automotive and aerospace.Weakened by his recent defeat in the senatorial elections, the center-left prime minister of Japan can not implement as it sees the budget and tax reforms that could reduce Japan's debt, too colossal.
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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.
In the Murdoch family, there is first a father, Rupert. The famous media magnate owns Newscorp, the Australian giant which owns among others the Fox television network, Twentieth Century Fox studios and newspapers The Wall Street Journal and The Sun.
Then there is the son, or more precisely the fourth son of Rupert James, now considered the likely successor to his father as head of News Corp.. Teenager James was known for his rebellious streak: bleached hair and piercing in the eyebrow, he distances himself from the family way, left Harvard in 1995 and created a hip hop label, Rawkus. After three years, the company, which generates an annual profit of 2.5 billion, was acquired by the company of Dad. James, suddenly sobered, is back in the family fold.
He became head of operations at News Corp. Internet without much success, then the satellite television network that makes Asian StarTV beneficiary. In 2003, his father appointed him director general of the British operator of satellite TV BSkyB.Quelques years later, he left his office to become chairman of BSkyB. James needed so as the most likely heir to his father. The two men are close, they called even daily according to the BBC. The Financial Times also reported an incident in April when James Murdoch, furious, entered the premises of The Independent in storming the cons of a newspaper stating: "Rupert Murdoch does not decide the outcome of the election – it is you who will.
Battle between BSkyB and News Corp: James is at odds
Today, James Murdoch is in a difficult position, combining the positions of chairman of BSkyB and Director of European and Asian operations of News Corp. payday loan. The group led by his father now wants to take full control of BSkyB which it already holds 39% shares. Last week, Newscorp has offered to buy the remaining shares at a price of 675 pence per share. It has raised its offer on Tuesday by offering 700 pence per share. The cost for Ruper Murdoch thus amounts to 7.8 billion pounds (about 9.4 billion euros), valuing the entire company at 12 billion pounds (14.5 billion euros) .
BSkyB has however rejected the offer, saying it significantly undervalues the company.In a statement, the British operator admits however that "an offer from News Corp. could serve the future interests of its shareholders" but said he would only accept a superior offer to 800 pence per share.
According to the Financial Times and the Daily Telegraph, James Murdoch would be steering clear of discussions of the board of BSkyB's offer of his father. The FT noted that "take full control of BSkyB would strengthen the business of James Murdoch is the corner of the empire his father knows best as a former CEO of satellite operator.
Following the announcement, as BSkyB jumped to the London Stock Exchange: just before 15h, action gained 19.40% to 717 pence. This surge up the operator above the purchase price offered by its parent.
New session of decline in perspective the Paris Stock Exchange on Wednesday. If investors follow the Parisian trend driven by Asia this morning, there is little chance to see the CAC 40 bounced in the opening. On Tuesday, the key index in Paris had a meeting very heckled, opening in early fall and then increasing its losses during the session. The reopening of Wall Street after a holiday and good U.S. macroeconomic indicators have helped limit the damage: ACC ended the session on a drop of 0.13%.
But concerns over the resumption of economic growth have resurfaced after the announcement of bad statistics on inflation and real estate in China. A price increase in this sector is feared the creation of a bubble whose consequences could be worse than those of U.S. subprime, according to some economists.
Incidentally, the euro fell to its lowest level in four yesterday during the meeting. On Wednesday, investors will keep an eye on the promises of home sales in April and May auto sales in the United States.
The bank will try to resume
As for values, banking and insurance will be expected once the turn. Very disciplined yesterday, BNP Paribas, Credit Agricole, Societe Generale and Axa will attempt the ascent. In particular they should react to the press conference European Commission President Jose Manuel Barroso, Commissioner for Financial Services, Michel Barnier and economic affairs commissioner, Olli Rehn, the Financial Services No fax pay day loan.The commissioners will present a Green Paper on economic reform of the EU favors a reorganization of the governance of financial institution.
Areva and Siemens would be in the sights of the European Commission according to the Figaro. An expedited procedure against the French and German can be launched for infringement of competition law. This decision falls within the framework of the divorce between the two groups.
This opens in Paris on Wednesday that the trial of Jean-Marie Messier, nearly eight years after his ouster from the chairmanship of Vivendi Universal (VU). The former boss will have to account for its management of media and communications group.
Bouygues has raised its revenue for 2010. Tuesday, the group released an operating profit of 162 million euros in first quarter 2010 and a net profit group share of 181 million euros.The group also indicated that the proposed tram-train the meeting had been finally buried.
EDF said Tuesday that its proposed acquisition of shares from several shareholders of the second Belgian electrician SPE-Luminus, which will own 63.5% of the capital after the transaction was negotiated on the basis of a price 215 million
L'Oreal said it has acquired a new provider of hair salons in the United States for an unspecified amount.
PSA Peugeot Citroen holds its general meeting this Wednesday. Philippe Varin, chief of the manufacturer has to convince shareholders of its development strategy in Asia.
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.
The clouds are gathering over Goldman Sachs. After the announcement of a complaint by shareholders against the directors, the Wall Street Journal revealed on Saturday that five of them sold their shares after the bank had been informed that an investigation by the SEC, the U.S. stock Constable , was the establishment. They have sold their shares at a purchase price of $ 65.4 million (48.9 million euros).
The Wall Street Journal, officials have sold the shares in question are an attorney, two vice-presidents, a chief accountant and a member of the board of directors.
The sales took place between October 2009 and February 2010, the Wall Street Journal reported on its website, citing the company InsiderScore.com, which presents itself as an observatory of insider stock transactions.A few months ago, in July 2009, the SEC had informed the bank that it was considering legal action against them.
On April 16, the day the SEC announced it had filed a complaint for fraud against Goldman Sachs in the civil courts, as the Goldman Sachs lost 13% of its value on the NYSE. The fall had continued throughout the week.
To prove his good faith
The announcement comes as Goldman Sachs is preparing his hearing Tuesday before the Parliament. According to a document of 11 pages that she purchased the Washington Post, executives at Goldman Sachs who will testify alongside Fabrice Tourre want to demonstrate their good faith in this matter.
Before the Senate subcommittee investigation on the financial crisis, they will indicate that they do not know if housing prices would increase or decrease when the product under investigation, the Abacus, was sold. The document describes the debate that animated the leaders of investment banking in 2006 and 2007. As proof, the bank will provide the e-mails on the subject by the leaders.
Nuisance emails
Their testimony should however be undermined by embarrassing e-mails released by a Senate committee on Saturday. According to the messages exchanged, the bank would have otherwise benefited from the mortgage risk to pocket tens of millions of dollars.
In one of these messages, the CEO of Goldman Sachs, Lloyd Blankfein, wrote: "We obviously have not escaped the bedlam of subprime mortgage.We lost money and then we have won more than we lost through our short position. In another mail, managers assess the consequences of failing grades assigned by rating agencies, subprime, "like we're going to make much money," wrote one of them. "Yes, we are well positioned," replies his colleague.
"Investment banks like Goldman Sachs did not just brokers, they were interested developers of risky and complex financial products that led to the outbreak of the crisis," says Carl Levin, chairman of the Sub-Commission Senate Permanent Investigation, which will face the leaders of the bank Tuesday.
The crisis in the eurozone, triggered by the financial woes of Greece, does not discourage candidates for membership. Instead, the accelerated deadlines. Next on the list, Estonia – a member of the European Union since 2004, like its Baltic neighbors – has become in January the 17th state to adopt the single currency when it emerges just one of the worst recessions its history. The small Baltic state announced Friday a fiscal deficit and public debt for 2009 well below the limits set by the European Union, respectively 1.7% and 7.2%. These exemplary figures are enough to make the envy of the major European countries even if they hide a decline in GDP of 14%.
With these results, the government intends to pass his entrance examination in May for publishing the report in Brussels in June and especially in the political verdict Finance Ministers."I do not see how they could refuse," said Estonian Minister of Foreign Affairs Urmas Paet. Most countries in the euro area far exceed the criteria, "Bill Thomson, OECD, grade:" One can always interpret in one way or another, especially on the sustainability of public finances. This is a political decision. "As such, the entry of Estonia into the OECD in late May it provides proof of credibility.
Yet a year ago, few experts would have bet on the country joining the single currency. After years of euphoria, the country has suffered serious setbacks: the collapse of the housing bubble, crash consumption, falling exports … and unemployment rising sharply, to 14%.
Unlike most countries that have tirelessly to revive the machine, the strategy here was quite different, based at the end of 2008 on the restrictions.Salaries down, the tax burden to rise, spending freeze … In 2009, savings accounted for 9.2 points of GDP. All without protest or strike extent. "If we compare the living standards of the time (prior to its independence from Russia in 1991) and today is the day and night. Wages have increased significantly between 2005 and 2008, justifies Rein Minka, vice president of the central bank. "Estonians do not complain, it is not in their nature. They have not forgotten the rationing of the Soviet era, reflects Stecken Antoine, a French importer of cosmetics no fax cash loans . They are also followers of the liberal model."There is a consensus policy, including public opinion, to deny recovery by the public debt," said Maris Lauri, chief economist at Swedbank.
Meanwhile, the newspaper in Tallinn is very difficult. In the image Meeli Lass, 39, 4 children, opera singer, who supports her family with a salary of 13000couronnes (around 830euros) – good pay, judge the young woman. Her husband was fired, and his eldest daughter graduated last nine months looking for a job. "It tightens belt: no output, no new clothes. This winter, heating costs have soared because of very severe cold, they make up half of our budget. We still have potatoes that my husband grows outside the city. "What can we expect Does the euro? "This will be worse, answered Meeli with fatalism. Prices will rise as in Slovenia.And the country loses a little more independence. "
Flexible economy
According to surveys, almost 55% of the population believe the contrary to the virtues of the euro. He starts by removing the specter of devaluation ruinous for the country. Despite the fixed exchange rate regime, many rumors have circulated at the height of the crisis, the contagion of a Latvian lat devalued. The government also relies on the euro to attract investors. "We have a diverse economy and a very flexible system of single tax to 21%. Moreover, if the company reinvests it pays no taxes, "argues the minister of Economy, Juhan Parts.
For Maris Lauri, the only apparent in the short term will come from exports, which have already started to leave. "Estonia has a large network of SMEs that can adapt and produce in small quantities," said the economist.The close cultural, linguistic and geographical Finland is an undeniable asset. In two hours by ferry from Helsinki to Estonia, which produces a third less expensive, has become the preferred subcontractor of Finland. It cultivates its differences with its two Baltic neighbors: Latvia leaded by a banking crisis and real estate and Lithuania dependent on markets in Germany and Poland, which has seen its market collapse.
Contracts on U.S. stock indices suggest opening up Wall Street after three sessions of consecutive decline markets suffered the effect of uncertainty on profits in the banking sector related to Barack Obama's desire to limit risk taking . On Monday, the future of Dow Jones rose 0.63% to 10,214 points, future increases in the Standard & Poor's and Nasdaq are more timid: 0.08% for each.
The markets are relieved by the prospect of an upcoming confirmation by the U.S. Senate, the appointment of Ben Bernanke for a second term as president of the Federal Reserve.
On the macroeconomic front, if the meeting Monday is looking pretty quiet with only a statistical program, home sales in December – are expected to decline by 10% after rising 7.4% in November — week, it will be more responsible.In addition to meeting the Monetary Policy Council of the Fed, which must render its decision on rates Wednesday, investors will pay attention to economic data front, starting with the first estimate of U.S. GDP for the fourth quarter 2009, expected on Friday. A follow clues consumer confidence (Conference Board that Tuesday and the University of Michigan Friday) and sales of new homes in December, Wednesday.
As for currencies, the dollar lost ground against the euro, thus yielding 0.4% to 1.419 dollar against the euro, but gained 0.4% against the yen to 90.2 yen Business Card Holders