Total victim of a gas leak in the North Sea

 

Alert at Total. The gas leak occurred Sunday afternoon on his Elgin gas field, 240 kilometers east of Aberdeen in Scotland is growing. Tuesday afternoon, the authorities decided to ban flights within 3 nautical miles (5.5 km) from the Elgin platform and navigation within 2 miles (3.7 km).

The latest information provided by a spokesman for Total in Aberdeen, the gas does not ignite. The 238 employees of the platform were evacuated by helicopter Monday, without being able to stop the leak. And for good reason, Elgin is nicknamed "the pit of hell" because of the pressure and temperature "extremes" in the words of the website of Total, prevailing in the gas tank, buried 5000 meters below seabed. Total According, the pressure is of the order of 1100 bars, the equivalent of one tonne concentrated on the surface of a fingernail. By comparison, the pressure in the well Deepwater Horizon, in the Gulf of Mexico, scene of the worst oil spill in U.S. in 2010 was 800 bars.

Two fireboats are on alert at the limit of two miles, ready to intervene. Tuesday afternoon, experts from Total does not always explain the reasons for flight. Among the possible operations is discussed drilling a relief well which would reduce the pressure of the leak in the original well. An intervention that would take six months, admits it at Total.

According to the spokesman of the French company in Aberdeen, 20 tons of gas may have leaked. Moreover, the condensate-oil-sprawled on Tuesday 4.8 km2. A plane with the dispersant on board was ready to take off. The company Shell has reduced its staff on its neighboring platforms and Noble Hans Deul Shearwater.

Total shares fall

At the Paris Bourse, the action of a number of CAC 40 lost 8% to 14.30. At Total, the oil slick from the Deepwater Horizon BP in 2010 is on everyone's mind. The company has launched a website dedicated to the incident.

According to Frederic Hauge of Bellona Norwegian environmental NGO that monitors the production of hydrocarbons in the North Sea, quoted by Reuters, "the staff has seen the sea boil. I am very concerned about the situation. It can only get worse. "

Mutual conflict and opticians

 

"We hear a lot of glasses Eva Joly and François Hollande, yet the optical is not a matter for politicians," sighs Alain Gersel. President of the National Federation of Opticians France (fnof) has just sent an open letter to presidential candidates, how to draw attention to the conflict that opposes complementary health.

The glasses are poorly reimbursed by Social Security. Among the 15% of adults say they have sought care for financial reasons during the previous year, fourth evokes the optical (second position issue, behind the teeth). The role of complementary is therefore crucial. To reduce the amount their members out of pocket, while controlling the cost of repayments, they enter into agreements with opticians, constituting "managed care". The optician agrees to charge prices "reasonable" and comply with quality standards (glasses, antireflective treatment, preliminary estimate …). In return, the additional promises a certain volume of customers-the Mutual General Education (MGEN) guarantees member 1 to 1.5 per day per store. To achieve this, it does not require to visit the stores contracted but incites: no co-pay, third party payer reimbursement and often better.

First mutual health in France, particularly in the sights of opticians, MGEN reimburses 25% increase in its qualified opticians. Its network is "closed", that is to say limited to opticians on 12000 1900-that's what allows him to expect its partners a surplus of customers. Enough to arouse jealousy among the recalibrated? MGEN provides an optician on two postulated to integrate its network, which would mean about 4000 disappointed

. Legal offensive

The fnof aligned in any case the arguments "antiréseaux". First, the insured pushed a licensed optician might be forced to "40 or 50 km route" to find it. Proximity is especially important that opticians can renew and adapt prescriptions of ophthalmologists, a solution found in 2006 in response to the shortage of medical specialists. MGEN side, it was answered that few opticians established in villages: they are concentrated in cities, contact a professional under agreement would impose the worst to go one or two streets away. Second objection of the union of opticians: lack of customer follow-up, stores incoming and outgoing network each year. Finally, do some additional improvements that would offer rebates on a limited choice of lenses or frames, without clear to their policyholders. MGEN does not feel concerned with "170 000 references saved."

The fnof offers an alternative to further reduce their costs for: refund less often eyeglasses-many contracts support a pair a year while a renewal every three years would suffice.

Several legal offensives were also launched against the MGEN, one by the sign Afflelou, based on two grounds. The barrier to competition, on the one hand, but the mutual boasts favorable opinions of the Competition Authority and the DGCCRF (Bercy). The inability of a mutual practice different levels of reimbursement between its members, on the other. On this point, the case law is unfavorable to MGEN. Following a recommendation by the Court of Auditors to slow health spending, Parliament intended to remove this barrier to care networks in 2011. But the article of the law passed was censored for reasons of form.

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Insurers invest more in real estate

 

SWFs have definitely an appetite for stone. In January, Qatari Diar, already owns the premises of the Hotel Royal Monceau in Paris, put his hand on those of the Carlton in Cannes. Reportedly, GIC, the Singapore fund, has made him a ticket of 100 million euros in the funds spent on office property completed by the end of 2011 Altarea land.

This spectacular arrival of sovereign wealth funds in commercial real estate almost makes you forget a more pervasive phenomenon. Insurance companies have become the biggest buyers of offices, shopping centers, hotels and warehouses. According to the consulting firm Cushman & Wakefield, they earned last year 26% of investments in this asset class in France. Their representatives are out in force this week in Cannes at MIPIM, the international exhibition industry.

"With the crisis, insurers have found that some of their favored investments such as bonds had become riskier, says Xavier Seagull, Director of Acquisitions at Allianz Real Estate France. They therefore turned to real estate. "These properties correspond perfectly to the needs of insurers, they offer a 6% return, which allows them to fulfill the contract made with the purchasers of life insurance: a performance around 4%.

As a result, insurers have decided to strengthen real estate. Allianz, which was 3% of its investments in stone in 2008, rose to 4% and now account for 6% of spend the next four to five years. "At group level, we want to happen in three years at the 10% position in real estate as against 7.5% today," says Philippe Depoux his part, Chairman of Generali Real Estate France.

Acquisitions financed with equity

Insurers are likely to keep their goals because they have a secret weapon: with the money collected by life insurance, they can finance their operations from their own funds. An asset, at a time when banks have drastically reduced their loans to buy back buildings and shopping centers. "Today, we are fine business when they were proposed by the trustees of private equity funds that financed their operations by resorting to massive debt," said Joelle Chauvin, Property Manager of Aviva France.

Each insurer has its strategy. Aviva took the risk of launching 50-50 with Predica construction of a tower of defense, Carpe Diem, to be delivered late 2012-early 2013. An operation "blank", that is to say developed without identifying a tenant. An approach that refrains Allianz, positioned on existing buildings with long leases. In 2011, the German company bought 260 million Forum Seine, a building of 35,000 m2 including leased Locapost. However, these players are always looking for the same locations: Paris, La Défense and near western suburbs.

Along with their purchases of real estate, insurers are increasingly engaging in more in mortgages that are secured on the asset value to fund. One way to enjoy the disengagement of the banks real estate field. The possibility of waiving the banking monopoly is under the Insurance Code. Axa and Allianz have decided to play the forerunners in this field.

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The previous Free plays with the spirit of the Telecom Act

 

The battle between ARCEP, the telecoms regulator, and the Ministry of Industry (through the National Frequency Agency) about the extent of actual coverage of the network of Free Mobile reveals an unprecedented reality. Free Mobile have actually deployed a network covering 27% of the population, as he had promised. But this network is not used by its 1.5 million subscribers, mostly transiting through that of its rival Orange.

This situation is probably temporary, but it calls into question one of the very principles of the 1996 Act on the opening of the telecom market, which promotes competition investment. To be operator of right, we must invest in its own network. Otherwise, it is a mere reseller of airtime, as Auchan Mobile. This principle of law is based on two ideas: it is necessary to stimulate investment in technology and jobs and we have to play the full benefits of competition as an operator with a network is able to offer innovative services.

This is why France has opted for the construction of four mobile network operators for four different full function. Under this principle, Bouygues Telecom has embarked on the adventure of moving in 1996 without using a roaming agreement. The law could have imagined another option: a single network shared among all operators, as is the case with that of Réseau Ferré de France, which will be used to train competitors for SNCF.

Today, the problem is that Free Mobile plays it both ways. Taken to extremes, this precedent could lead mobile operators to choose to play on the roaming network of next generation 4G, which would reduce investment.

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The auto market at its highest in four years in the U.S.

 

Car sales in the U.S. reached their highest level in four years last month. Nearly 1.15 million vehicles were sold, 15.7% higher than February last year, according to figures from Autodata firm. The latter states that annualized seasonally adjusted, this represents 15.1 million vehicles. The most since February 2008!

While gasoline prices rose 10% in February compared with January, the fuel efficient cars are spared Thurs Toyota, for example, recorded better results than expected with sales up 12.4%, with an increase of 52% for the Prius and 60% for all of its hybrid models of all brands. Figures from other Japanese manufacturers are also very well oriented: Honda saw its sales rise 12.3% to 110,157 units and Nissan from 15.5% to 106,731 vehicles.

For his part, General Motors, which has just completed an agreement with the French PSA, recorded 1.1% growth in sales year on year to 209,306 vehicles. This figure exceeds expectations, while leaders of the global market leader company provide a good year in 2012. The Chevrolet brand door activity, while sales of its big Cadillac erode by 27%. Ford sales up 14% year on year, reaching 179,119 units, with a doubling of sales for the Focus. Those of Chrysler, the number three in the U.S. market, even soar by 40%, to 133,521 vehicles. The group controlled by Italy's Fiat said it is the 23rd consecutive month of sales, with a growth rate exceeding 20% ​​for nine consecutive months cash till payday.

Market shares redistributed Chrysler start, GM back

With the surge in sales, the Chrysler brand has seen its U.S. market share grow to 11.3% against 9.6% last year. Conversely, that of General Motors declined to 18.2% against 20.8% a year earlier, as Ford has eroded to 15.5% against 15.7%, while Toyota was down to 13 , 9% against 14.3%, while Honda was down 9.6% against 9.9% and Nissan remained stable at 9.3%, according to data from Autodata.

Common to all manufacturers: their optimism for the coming year. Besides the economic upturn, they emphasize the need for replacement of vehicles in which the average age is high.

"If gasoline prices continue to rise, people will perhaps reduce their discretionary spending, but if employment improves, they will need to buy cars to work," noted Jenny Lin, Ford economist. For his part, Don Johnson, GM, concludes: "We do not believe that short-term fluctuations in gasoline prices will stop rising sales of GM and the industry in a better position that three years ago. "

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"Robert Peugeot:" The alliance with General Motors is history "

General Motors takes 7% stake in Peugeot

 

After a week of rumors, the announcement is, this time, official: the General Motors made its entry into the capital of the French group PSA Peugeot Citroen, according to an official. GM takes and 7% stake in PSA, which carries a massive increase in capital of around one billion euros. GM is now the second largest shareholder of the French group behind the Peugeot family.

The alliance will focus on platforms and components and provides a joint venture in purchasing. The first vehicles from a common platform GM-PSA will be marketed from 2016. Expected synergies from the two manufacturers totaled $ 2 billion annually within five years.  

This alliance gives rise to a powerful global industry leader with over 11 million vehicles sold per year worldwide.

First French carmaker, PSA is currently experiencing serious financial difficulties. Its net debt rose in 2011 from 1.2 billion to 3.4 billion euros. Leaded by Europe, sales of Peugeot and Citroen fell 1.5% last year while the global market progressed by 3%. The group announced last October a comprehensive plan of saving 800 million euros that could cause the elimination of 4,000 positions this year saving account pay day loan.

With his new partner, the Lion brand will achieve greater flexibility for financial resume investment as an upmarket in Europe and the creation of a new plant in India.

GM weighed down by its European subsidiary Opel

For his part, General Motors has certainly taken over in 2011 the title of world number one Automotive Japanese automaker Toyota. But the American could benefit from expertise of PSA to finally leave the red Opel, its European subsidiary. It announced in mid-February to have lost $ 747 million in 2011.

Peugeot confirmed Feb. 21 that he "consider [ed] the cooperation projects and alliances (…) as part of its globalization strategy and performance improvement." Without specifying with whom, but rumors already evoked release of GM. Last night, the Financial Markets Authority (AMF) had called PSA to communicate "as soon as possible" on the alliance, while multiplied rumors of a capital increase.

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Kellogg's buys Pringles crisps

 

Kellogg's takes its revenge. After being out of the game last year, the world's leading cereal offers Pringles potato chips, for $ 2.7 billion. It takes advantage of misadventures of the seller, Procter & Gamble (P & G), which had entered into negotiations in April 2011 with fellow American Diamon Foods for the sale of Pringles.

These negotiations were unsuccessful, the purchaser being mired in a huge accounting scandal. Within months, the stock price Diamond Foods has lost half its value. But the company had committed to spend $ 2.4 billion, mainly in equities, to get their hands on Pringles. In early January, Diamond Foods announced it would need to reassess its accounts the past two years, following an internal investigation into its accounting practices. Hours later, P & G said look for an alternative.

Kellogg's and P & G should complete the operation by the summer. The withdrawal of Diamond Foods will not result in financial compensation for P & G.

By offering the brand of chips, which generates about $ 1.5 billion in sales and employs 1,700 people, Kellogg's is a giant step for the future. "Pringles has a global presence that propels to Kellogg's second in the world of crackers, helping us achieve our goal of becoming a real business of cereals and snacks," says John A. Bryant, CEO of Kellogg's, which topped last year's $ 13 billion in revenue.

PepsiCo, the leader

Sold in over 140 countries, produced in Belgium and the U.S., the Pringles potato chips become the second brand of Kellogg's Special K behind The U.S. giant has already Keebler cookies and crackers and Cheez-It Townhouse. The group also sells cereal bars and fruit snacks. But he has to go up a gear abroad.

"The acquisition of Pringles it provides a platform for international distribution of its products ready for snacking," analysts said BernsteinResearch. This should lead to synergies, particularly in Asia, where Kellogg's is still low.

Dominated by PepsiCo, the snack market, with sales approaching $ 65 billion, grew twice as fast in the last five years in emerging markets (+9.6% on average) than in mature markets. The sale of Pringles brand disengagement of P & G's food, a segment where the world's leading consumer products had tried to diversify in the 1990s. In 2004, he had already sold its Sunny Delight juice. It intends to focus on cosmetics, personal care and cleaning products.

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Taxes: Taxpayers more in 2012

 

The surprises could affect 100,000 to 200,000 homes. According to Le Parisien-Aujourd'hui en France, households may not be taxed so far include paying the income tax this year. The head is the second austerity plan announced by the government last November and froze the tax scale.

Previously, the tax brackets, which forms the basis for taxation, were reviewed annually to reflect inflation increases the cost of living. By freezing for at least two years tax brackets, all persons whose incomes rose in 2011 could potentially be affected by the reform if they are left with taxable income greater than 5963 euros, the threshold first tranche of 5.5%. For the government, the money will have to pay these homes will be relatively low because the IRS does not claim the tax payment when it is less than 61 euros. Le Parisien-Aujourd'hui en France underlines that the sudden imposition could have more serious consequences for households as much aid as those granted to the school canteen and transport are related to the absence of taxation. Some families might therefore lose those benefits.

Changing slice

Another mechanical effect of freezing the scale, other households may already taxed, them, cross the threshold of the top tax bracket and thus having to pay more check cash advance. This extra tax is not yet visible on the view that taxpayers received early this year to pay the first third. The surprises will come in September, when paying the balance. According to calculations of national union unified tax (Snui) quoted by the newspaper, the increases will be spread from 1.17% for a wealthy couple with no children at 12.57% for a single. The government expects in any case additional EUR 1.7 billion of tax revenue for 2012 and double that for 2013.

Finally, the richer will also be affected, because the scale of the solidarity tax on wealth (ISF) has also been frozen. The government expects 44 million of additional wealth tax in 2012 and 88 million more in 2013.

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Air France had played down the incident last week. Its CEO, Alexander Juniac, changed his tune on Thursday by announcing that the airline had suspended the maintenance of its aircraft by China Taeco. Mid-November, an Airbus A340 that had just been completely revised in China had to be immobilized in Boston after the discovery of thirty missing screws on a panel fairing. "We stopped sending our aircraft at the moment," said the boss of Air France on a visit to Beijing quick payday loan. An internal investigation into the incident of the A340 is in progress, and should last "a few days," he said.

Taeco, headquartered in Xiamen, southeast China, has also opened an investigation into the incident Tuesday. The Chinese maintenance company is a leader in the maintenance of large aircraft and works including Lufthansa, British Airways, American Airlines, JAL and Emirates.

Meg Whitman, 55, led the auction site eBay from 1998 to 2008. In 2010, she was defeated candidate for governor of California. Since September 22, she took the head of Hewlett-Packard (HP) then in turmoil. Billionaire, a graduate of Princeton and Harvard, Meg Whitman was chosen to revive the world's largest information technology. HP is less profitable than Apple and IBM, but its biggest revenue (127.2 billion dollars). His predecessor, Leo Apotheker, had planned this summer, the sale of the PC, which controls 20% of the world, with more than $ 40 billion in sales. These decisions have plunged by a third the price of the stock HP. On the contrary, Meg Whitman has decided to revive HP PCs and tablets.

LE FIGARO. – Apple is expected to become world number one personal computer in 2012, according to Canalys.Finally, the HP brand is indisputably linked to our PC.

Why start the Slate 2, your second tablet, sold off after the TouchPad?

We will return on the market shelves. The Slate 2 sign our return. We stopped using the products that our operating system WebOS. We will return in 2012. We will have an Internet Tablet that will use Windows 8 Microsoft.

A tablet is it comparable to a PC?

Not at this time. Internet tablets are mainly used to consume media and e-mails. If you want to use productivity software such as Microsoft, you can not do. Our studies show that this is an additional purchase that does not encroach on the PC market.