This is the most reassuring news announced by the U.S. authorities for more than two months. According to Coast Guard Admiral Thad Allen American to oversee cleanup operations in the Gulf of Mexico, BP should be able to contain 100% the gap in the well from which oil flows to by Monday. A new funnel, bigger than previous ones, is currently installed by the British oil.
This funnel, called "Top Hat Number 10", should recover up to 80,000 barrels of oil per day (12.7 million liters), against 25,000 now. The authorities are optimistic that based on their assessments, the well lost more than 60,000 barrels per day. The previous dome will be first removed. A large quantity of oil escape so well for 48 hours.But once the new funnel posed, the results will be immediate, promises Thad Allen.
Since April 20, the day of the explosion of the Deepwater Horizon platform off the coast of Louisiana, BP has increased its attempts to clogging, all unsuccessful.
No stop before August
BP was more cautious in its forecasts. Bob Dudley, responsible for managing the disaster, spoke of another scenario where difficulties in installing the new funnel could delay the time from Monday to Thursday.
But authorities are confident: "We have the climate we need," said Thad Allen. The admiral, however, required to calm the enthusiasm that followed the announcement. "I used the word 'contain' and not 'stop'," he commented. According to him, the well would not be closed as well as two-pass will not be completed.These wells, dug deep to inject cement and mud, should not be installed until mid-August. Once the leak stopped, the extensive cleaning and restoration of the ratings will continue.
Anadarko does not pay
On this last point, BP was again struck Friday denied Anadarko Petroleum. The company, which owns 25% of wells responsible for the spill, said she would not pay the $ 272 million that BP is asking her to cover their share of cleanup costs, according to U.S. law known pollution.
On June 18, the tension was raised a notch between the two partners lorsqu'Anadarko stated that the explosion of April 20 on the platform Deepwater Horizon, "was preventable and was a direct result of decisions and actions BP unthinking.
In another e-mail sent Friday, a spokesman for Anadarko, John Christiansen, however, felt that his group remained "committed to working in good faith with BP to reach a satisfactory resolution."
BP is now awaiting the response of Mitsui, which owns 10% of the wells. The British oil giant is claiming $ 112 million for cleanup costs. The company has not yet made its position.
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A new face to face. And this, for the third time since 2001. Airbus and Boeing had 14 hours until today to submit their proposals to the Pentagon to get the first installment of the fabulous contract renewal of the fleet of tankers U.S.. Or 179 tankers for about 40 billion dollars out of a total of over 400 aircraft in exchange for a check of more than 100 billion dollars.
The two rivals have delivered boxes and boxes of documents 8800 pages for EADS Air Force Base Wright-Patterson U.S. Air Force in Ohio. The Pentagon said it would issue its final decision on Nov. 12, after the midterm elections in Congress. Contrary to some rumors, there was no third deposit offer from the Ukrainian Antonov.
The ultimate battle for the tanker has begun.Airbus (2008) and Boeing (2003) have each won once this contract before it is canceled. In March, EADS had been forced to throw in the towel after the abandonment because of "biased competition" in favor of Boeing Northrop, its American ally at the time.
Convinced that his offer and his plane are the best and deal with the Pentagon's commitment to open competition "fair and transparent," Louis Welsh, president of EADS, has decided to descend into the arena. EADS proposes the KC-45, a military derivative of the long-haul A330. This unit has successfully completed numerous flight tests and has won every competition in the world including in Britain and Australia with two KC-45 must be delivered by the end of the year.Facing him, a derivative competes with Boeing's Military B 767, a paper airplane that does not exist yet.
48,000 jobs
EADS has provided a list of its 200 U.S. allies including some key partners for the militarization of the aircraft. Among them, the first is Rockwell Collins, a specialist in avionics and electronics, as announced by the letter AeroDefenseNews. This group of 4.5 billion dollars in sales, is a longtime supplier to Boeing and its … B767! Rockwell Collins provides the avionics include weather radar and the B 767-200. But it is also an expert in military electronics, which are sensitive equipment aboard the C-130 transport aircraft from Lockheed and the KC-135 Boeing.GE Aviation, Honetwell, Hamilton Sundstrand, Goodrich or agreed to engage behind EADS which the Pentagon has recognized as prime contractor (prime contractor). If its bid is successful, EADS to build an assembly plant in Mobile, Alabama. He believes that his project will create 48,000 direct and indirect jobs with the outsourcing to the United States.
EADS Has a chance to win and achieve the American breakthrough he has been waiting long? Many questioned both the military contracts are in final political decision. The price will determine the Pentagon said, putting pressure on the two groups. EADS has already said he would not take a contract loss
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After presenting the magnitude of reductions in departmental budgets, the British prime minister should explain the method he intends to use to achieve its objectives. The austerity measures unveiled by the government this weekend are particularly severe: the state is considering including reduced by over 40% of the cost of certain departments. However, David Cameron must ensure this Thursday in front of 450 members of his Government that the quality of public services will be maintained in spite of drastic budget cuts.
According to excerpts of the speech published by Bloomberg, the prime minister must detail his plan to replace "the old bureaucratic system with a new democratic system, enabling it to resolve the dilemma between maintaining services and reducing costs.
"We want to give citizens an opportunity to improve public services in our country through transparent, democratic local control, competition and choice," said excerpts from the speech. David Cameron will discuss in particular the possibility for the first time, electing police commissioners Guaranteed payday loans.
For its part, the Secretary of State for reducing costs of administration will scrutinize all the benefits of key government suppliers to reduce costs. The names of companies have not been disclosed.
600 000 public jobs threatened
The British Finance Minister, George Osborne, asked the Ministries of Defence and Education, to make projections based on a reduction in their budget 10% to 20%.But other state services must therefore prepare for reductions of 25% to 40% of their resources. In late June, the Minister announced in Parliament and with all the new budget measures he hoped would reduce the deficit from 10.1% of gross domestic product this year (2010/11) to 1.1 % of GDP by 2015/16.
The Fiscal Responsibility Office has estimated that 600,000 public sector jobs might be eliminated as a result of these forecasts to reduce the deficit.
The strong growth of the Carrefour share continues. After gaining nearly 3% Monday to close the Paris Bourse, the title was up 1.39% to 33.53 euros to 11.45, in a market that climbed 2.65%.
If the information has not yet been confirmed by Carrefour does not wish to comment, the group would indeed begun selling its operations in Thailand (550 million euros turnover in 2009 ), Malaysia (300 million euros of turnover) and Singapore (80 million euros of turnover), according to Reuters. "I would not reconsider our position on a number of emerging markets where the potential is not important," said Lars Olofsson, Executive Director of Carrefour, Le Figaro last January. These transfers could bring him some 800 million euros.
"Carrefour has too dispersed"
"These operations will confirm Carrefour to focus on China (3.5 billion euros in turnover in the first quarter of 2010, Ed), Taiwan (1.3 billion euros of turnover) or Indonesia (800 million euros of turnover), "said an analyst of CM-CIC Securities specialist value. He added: "These markets like Mexico, Chile, Japan, South Korea or Switzerland, which Carrefour has withdrawn, were either uninteresting or markets where the group has rapidly exceeded by its competitors. Carrefour was too dispersed. According to the analyst, other distributors present in Asia as Tesco and Casino would be interested, or even private equity investment based on the evolution of debt markets and mergers and acquisitions.The Casino has wished to make any comment.
Carrefour wants to "re-enchant the hyper"
To boost sales of its hypermarkets, the group plans to create new concepts. As part of its "hyper-enchantment" Carrefour should delegate its rays to Virgin Music, according to the magazine Challenges. By outsourcing this department to a specialist, the group hopes to attract more young people into its stores. A first test will be done in the store Venissieux. And if successful, the contract could be extended to 238 Carrefour hypermarkets, and cover all rays non-food, whose sales have fallen 5% in 2009.
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The U.S. economy has begun to destroy jobs, after five months of net creation. In June, the number of job losses in the U.S. totaled 125,000 jobs including in the public, according to figures from the Labor Department. The figure was pulled down by the public sector, the end of the census causing the departure of 225,000 temporary workers hired for the occasion.
More importantly, the private sector alone has created 83,000 jobs. Is much better than the 33,000 net new jobs in the month of May However, analysts expected a figure close to 112,000. "We're going in the right direction but we do not go fast enough for many Americans. We are not moving fast enough for me either, "responded the president Barack Obama.
The increase in the number of private sector jobs due to "modest increases in various industries."The leisure industry in particular has created 28,000 jobs before the summer. Business services hired 21,000 people. Note, the industry continued to create jobs (9,000). The construction sector has meanwhile also destroys jobs (22,000), hit by a decline in new construction.
"Beyond these figures rather in line with expectations, the disappointment is the hours worked and wages," noted economists Exane-BNP Paribas. "Hours worked weekly find their level in April (34.1) and hourly wages shrink by 0.1% over the month." In bad omen for consumer spending.
On the other hand, the unemployment rate, calculated on a different basis, for its part fell 9.7% in May to 9.5% in JuneThe Labor Department said the decline by reducing the workforce and the growing number of discouraged workers who no longer work. "We still expect a gradual recovery in the labor market with unemployment rates remain high in 2010 before improving slightly in 2011," says Julian Thomas, an economist at Natixis.
"In general, the Labor Department report suggests weak growth, but not fallen into recession, say economists for their part of Societe Generale.
A significant number of European institutions is convalescing. Analysts estimate that more than twenty banks will be forced to raise over 30 billion euros, following testing of resistance. These tests, which must be published in late July, are expected to account for the ability of banks to support economic and financial extremes, particularly in case of new write-downs.
Already there are signs the sector's difficulties. Yesterday, the banks have asked for more cash than expected from the European Central Bank (ECB), illustrating the fact that institutions are unable to refinance them, and cast doubt upon the state of their balance sheets.Thus, after a special term refinancing operation of the ECB, 78 banks have borrowed just over 243 billion euros.
The concern germany
The latest statements by Axel Weber have also sowed doubt. The governor of the Bundesbank, Germany's central bank – has in fact asked to German institutions to raise funds to prepare for emergencies, in case they would not pass stress tests. The German regional banks, and Monte dei Paschi and Banca Popolare di Milano in Italy, Banco Popular in Spain or the Greek settlements, Portuguese or ireland would be most vulnerable.
INFO LE FIGARO – The defense saved the day during the budgetary decisions. According to our information, the budget of this department will be frozen in 2011. But it will increase by 450 million euros in 2012 and 500 million in 2013. From 2011 to 2013, allocations to the Defence grow by 3.1% in value, while the overall amount given to departments fall of 0.2%.
However, the Defence should have more, $ 3.5 billion over three years if the military budget law, which was planning an increase in expenditures had been met. But the roadmap is no longer tenable given the magnitude of deficit payday loans for self employed. In addition, Defence will recover about $ 2 billion windfall, thanks to the sale of real estate and radio frequencies.Result, the department will not have to increase efforts at downsizing. Neither cutting into programs renegotiated in 2009 as the multimission frigates Frem or equipment Felin infantry (even if the payment could be later). However, some programs not yet started should be deferred. And the operating budget will be reduced.
Brussels unveils Wednesday morning the first tools to enhanced budgetary discipline, but a return to social and political sensitivity, the eyes of many European leaders have already turned to the next step: how to reduce public deficits without killing one fragile recovery in short, prevent the patient from dying European healed.
Rigor or growth, the controversy Twenty-Seven do not extinguished with the final summit which has a fiscal tightening priority number one, are privately EU officials. Rather, the debate may resurface in the fall when the purge has hit the pockets of Greeks, Spaniards and Portuguese. It is also the time when France – soon followed by Italy – the first budget scenarios draw a crucial election year.Orthodoxy dictated by Angela Merkel and Jean-Claude Trichet to "save the euro, is probably not the last word.
"There is much talk of economic government, but except to despair of hundreds of millions of Europeans, this can not be reduced to handle the stick, says a prime minister. The EU must express a more positive discourse. "Behind the facade of unanimity, the summit of 17 June has seen crack consensus on the severity. Behind closed doors, elected by a large country has told his peers that he would not go to elections on an austerity program. A head of government has launched neighbor that he cared more for his popularity figures that the percentage of public debt.
Belgium, which takes the presidency tomorrow "rotating" of the EU and is found to manage the discussion, already began work clearance.The idea, pushed by Finance Minister Didier Reynders, is (re) launch a series of European projects clearly identified, to support investment and growth fragile. "States should certainly spend less, but they can also spend more," they said in Brussels.
The European tax, a topic still taboo
The new president was careful to mention a program of "great works" in the Keynesian mode. But he is making concrete and go beyond the pale "Strategy 2020" established by the Commission and just confirmed the summit. Several tracks are proposed, such as the integration of national networks of high speed trains, the interconnection of gas pipelines, or a coordinated plan for European manufacturers for an electric car general public.
In lean times, is to find public funding.Seen from Brussels, one or more of the taxes in gestation could find was a second use: the tax credit, the tax on financial transactions, or the carbon tax. This does not transform one of these tax levies national European topic still taboo in the EU. Each nation would undertake to devote part of its revenue to a new coordinated investment effort. This is the kind of government economic component.
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Priority of Berlin and Paris, the tax credit has received a cold reception in Toronto at the G20. Despite support from Washington and London, the communiqué does not mention the tax lip as a legitimate option for banks to charge up the pieces of the crisis. But the G20 is careful to praise, to the chagrin of the French and Germans who are promoting at European level.
'There is no international agreement on the tax, "says the Canadian government, hostile to this project from the start. Canadians, Australians and emerging countries are opposed to this levy, because their banks have managed to ride out the storm without state aid. "The financial sector should contribute to the budgetary effort of governments intervened to fix the financial system or money abound resolution," admits the G20."Some countries are considering a tax credit, others are promoting other approaches," said the statement, which takes note of the divisions at the highest level.
Budget 2011 in France
Some guiding principles of tax are set out in the annexes of the findings, but the virtues "antirisques" of the tax are not highlighted. Most delegations, particularly Americans, found it more effective to expand the capital of the most exposed to risks to avert a future crisis. One option feared by European banks, less well capitalized than their competitors in North America.
Angela Merkel, who was the first in Europe to defend the tax credit on a European scale, is not surprised by the meager results of the G20. "We were not going to convince the world to Toronto to impose a tax on banks, this was not the goal!" Will be defended German side."The G20 recognized the legitimacy of the tax, it is well", says it does on the French side. "Whatever the decision of our partners, we will implement this tax!" Warned Sarkozy Nicolas who entered the menu of the budget 2011.
France is Germany and Great Britain seem determined to pay their banks but, despite the political display, the proportions remain reasonable so as not too lose competitiveness relative to Asian markets. Thanks to its tax, France has recovered 1 billion; Great Britain, 3 billion pounds, the U.S. counting on $ 19 billion.A lesser evil for Western banks, which always escape to the great reform of global financial regulation announced by the governments since the first G20 in Washington.
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A draft "courageous, necessary and just." After the day of action against the pension reform, which drew between 797 000 and nearly two million people across France, Economy Minister Christine Lagarde, has defended the government's project on air in France Inter Friday. "Our priority is to protect the retirement plan division," she insisted.
While Prime Minister Francois Fillon has expressed this morning, Christine Lagarde said that "the government is not obtuse", and that "dialogue will continue. Discussions will be limited to "some point" in the text of the government, confirmed the minister."President Nicolas Sarkozy said on the issues of hardship, of polypensionnés and long careers, there is room for negotiation," she added.
"The message we give is our determination to continue to reform in serene courage and wherever necessary," said Christine Lagarde, who emphasized "the urgency" of the situation of public finances France. Asked about the signal that the French government would provide the markets with pension reform, Christine Lagarde did not deny the need to 'send a message of safety "for those who invest in the" France risk. However, the triple-A rating enjoyed by France, which is the best possible debt rating is "stable," Plassnik said.
Safeguarding the employment of older
While the unions believe the government bill "unfair" to employees, the minister said on France Inter radio that "high income will contribute" to the overall effort while "capital income will be taxed" payday loans . She also stressed the government's job to safeguard the employment of older workers. Two directions are preferred, namely training and alternate agreements with the companies on hiring senior employees.
"Delaying the age of retirement must be accompanied by measures to prolong the careers of seniors," the minister reiterated. According to figures released Thursday by the employment center, the seniors have been recovered on May 1 sharp increase in their number of registered unemployed (ranging between 1.3% and 1.4% by categories).That was several months that such progress had been achieved.
The discussion of the severity and recovery
For Christine Lagarde, these figures are "bad". And all the more reinforces the government's reform policy. A policy which it defines as "a subtle exercise" between the need to support recovery and the imposition of austerity measures. "On one hand, it is engaging the major investments planned under the Big Loan. On the other side, be careful not to spend any how, "says Minister of Economy.
A debate that should rightly be exported this weekend in Toronto at the G20 summit. Recovery plans for growth and fiscal restraint? The choice to divide Europe and the United States, the International Monetary Fund and World Bank.Relativizing discord among summit participants, Christine Lagarde nevertheless called for a "more collective work.
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