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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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 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.
Five days after the beginning of the G20, which will be held in Toronto, France and Germany called on Monday to unity. In a joint letter to Canadian Prime Minister Stephen Harper, Nicolas Sarkozy and Angela Merkel, calling on the G20 to "remain united to face the new challenges." A call that came after Russia was added, this Monday, the list of opponents to the introduction of a tax on banks.According to Arkady Dvorkovich, the Russian sherpa, other countries as "Canada, Australia, China and India" share the fears of Russia.
Penalties "proportionate and coordinated"
As they had said after their meeting early last week in Berlin, France and Germany believe that much remains to be done to ensure financial stability, "while the economic recovery could be threatened by new financial strains "
Among the many issues discussed, the issue of sanctions against countries "uncooperative" in the exchange of tax information or suspicion of money laundering.In this area, France and Germany want the G20 to go further this time by defining sanctions "proportionate and coordinated" against those countries and asked the OECD, which was published in early 2009 a list of countries targeted, the update in time for the summit in November 2011 in France.
They also want the Financial Stability Board (FSB) broadcasts before the end of 2010 a list of financial "who refuse to cooperate and comply with international standards for prudential" bad credit payday advance.
Nicolas Sarkozy and Angela Merkel address two other issues of topical hottest, new prudential regulations for banks and regulation of financial derivatives markets over the counter.
Prudential "selected and calibrated"
For the former, they believe they should be "selected, calibrated and implemented so as not to jeopardize the economic recovery." They wish they were not introduced before the end of 2012, "by leaving adequate transition periods and appropriate protective clauses.
Derivatives was, they called for an acceleration of "the implementation of strong measures" to improve transparency, notably through mandatory reporting of all transactions in central databases, trading on regulated markets and use of clearinghouses.
They also want an answer "coordinated" with the specific challenges posed by the markets of CDS (credit default swaps), derivatives used to hedge against risks of default of a borrower whose responsibility has been questioned by politicians in the debt crisis in Greece.
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Inflation has remained virtually unchanged in May The price index rose 0.1%, after rising 0.3% in April, INSEE reported Friday. Over one year, the labels have increased 1.6%.
In May, the index was pushed up "by the new rising energy prices and the seasonal increase in prices of fresh products and some services, including insurance, says the National Institute of Statistics. In contrast, prices were dragged down by lower seasonal rates for heating and promotions on cars and telecom is INSEE No teletrack payday loans. In clothing, labels do not change, remaining stable on the month.
In detail, oil prices rose by 0.9% (+13.6% yoy), as a result of rising oil prices.In services, the insurance rates also appear to increase: 1.5% for the automotive (+7.6% YoY), 0.8% for health (+5.1% over one year) and +0.4% for residential (+4.2% YoY), details the INSEE. The food prices have also increased by 0.3%.
After playing the "yo-yo these days, the CAC 40 continues to move closer to 4000 points. So much so that the index confirms its Paris flagship positive trend since the beginning of the year (0.46%).
This is especially gradual return to the announcement of the Fed to keep "for a very long time" rates to very low levels, to continue to support economic recovery. However, after climbing from 1.23% Tuesday, the progression of CAC 40 slows, the Paris index advancing by 0.54% to 3960 points.The London Stock Exchange evolved also in the green mid-term review, the Footsie-100 index rising 0.52% to 5649 points while the Dax in Frankfurt Stock Exchange advanced 0.76% to 6016.5 points
Deficit: 14 countries of the EU under scrutiny
Investors keep an eye on the report published by the European Commission on evaluation of efforts to reduce deficit of fourteen countries of the European Union, including France, the United Kingdom, Germany and Spain. The Director General of the International Monetary Fund, Dominique Strauss-Kahn, should also deliver a speech to Parliament.
On the macroeconomic front, start-ups in France jumped 12.9% in February compared to January, with a record 57,748 new businesses created, "INSEE announced Wednesday.They were down 8% in January.
Across the Atlantic, are scheduled this afternoon, the producer price for the month of February and the weekly inventory of crude oil. Moreover, the Organization of Petroleum Exporting Countries is scheduled to meet Wednesday in Vienna.
Alcatel-Lucent plunges
Atos Origin (-3.05% to 36.36 euros): According to a report in Le Figaro, the group covets a giant electronic payments be for sale by Royal Bank of Scotland.Thierry Breton, CEO of Atos Origin has declined comment.
EADS (-0.92% to 14.50 euros): Nicolas Sarkozy and Angela Merkel expressed once again concerned about the conditions of the bidding for the tanker market in the Air Force American and urged the United States to resist protectionist temptations cash advance in one hour .
Other values down this Wednesday, is Alcatel-Lucent. The group has been a decline of recommendation by analysts at Goldman Sachs from "buy" to "neutral." The Alcatel-Lucent shares decline by 2.09% to 2.48 euros.
Bourbon honor
Mr Bricolage (5.15% to 14.10 euros) has announced an increase of 23.8% of its 2009 operating profit at 39,7 million with a turnover of 547.5 million (+6.2% ).Net income, group share, in contrast to declining 36.1% to 21.4 million, while fiscal 2008 incorporated a capital gain of 14 million.
Stallergenes (+1.93% at 58.20 euros) Tuesday reported an increase in its results, its dividend and its cash in 2009 and has said it expects an increase in its margins and its activity in 2010 with the lower costs of studies on the product Oralair desensitization.
JC Decaux (+0.84% at 19.70 euros): the rating agency Moody's raised its rating outlook to stable from negative cons before.
Publicis (+1.16% at 30.99 euros): Members of the Executive's advertising group gave up their bonuses for 2009.This decision relates to Maurice Levy, chairman of the group, and David Kenny, Jack Klues, Jean-Yves Naouri and Kevin Roberts.
Bourbon (+9.30% at 29.34 euros): the marine services group announced Wednesday a net profit of 155.4 million euros in respect of 2009, against 224.4 million in 2008. It is therefore a decrease of 30.8% in 2009.
After market, Ingenico (+0.35% at 17.36 euros), Dassault Aviation (-0.96% to 546 euros) and Hi-Media (-0.53% to 5.68 euros) will publish their annual results, and GFI Informatique (-0.34% to 2.90 euros) results for fourth quarter 2009.
The setbacks being experienced with Toyota vehicles never seem to end. The giant Japanese automaker has indeed announce on Tuesday it will recall more than 400,000 hybrid cars in the world affected by a defect in the braking system. Among them, 223,068 vehicles sold in Japan, including 199,666 Prius. In the U.S., the figure stands at 133,000 and thousands around the world. This is another blow for the giant Nippon automotive after the 8 million vehicles returned to the garage because of problems of accelerator. The cars are concerned, primarily, the third-generation Prius, manufactured and marketed in Japan since last year.
The worldwide recall also covers tens of thousands of Lexus HS250h and SAI, whose sales will be discontinued in Japan until late February or early March.It also applies to a few tens of Prius PHV, which should be commercialized on a large scale in 2011, but already leased to Toyota by some companies and institutions on a trial basis.
This promises to reverse the more painful for Toyota, it has built its strategy around hybrid vehicles, equipped with a dual fuel engine and electricity, and presented as "environmentally friendly". This announcement follows the statement by the head of Toyota in the United States, Jim Lentz, who admitted Monday that the Japanese manufacturer had been aware of problems pedal accl?ration in 2007 but the case had not then been identif?e, thus denying that his group had hidden recurring problems.A Californian has even filed a lawsuit against Toyota, alleging that it had several problems with its brakes Prius.
Toyota shares gained nearly 4%
During a press conference on Tuesday morning – the second in just three days – the Toyota President Akio Toyoda, reiterated his determination to regain the trust of its customers and ensure that Toyota may "everything in its power" to that payday loans . "Let me convince you that we will redouble our commitment to quality, which is the heart of our society, under my direction," said Aiko Toyoda. The CEO said he would travel to the United States to explain about the reminders.
Aiko Toyoda also confirmed that Toyota will be able to immediately repair the defect on the Prius.However, the remedies are not yet ready for other models recalled, where the interruption of sales agreed in Japan. However, activity has resumed in North America, having been suspended. What Toyota does not deal with several lawsuits in partnership with the United States and Canada, from motorists who accuse it of concealing the existence of the defect of the pedal ' acceleration of their vehicles.
The Prius, whose first version dates from 1997, the hybrid car is the most sold worldwide, with about 1.5 million copies sold in late August 2009.It is central to the strategy of Toyota, whose goal is to sell more than one million hybrids worldwide each year.
At the Tokyo Stock Exchange, the share of Toyota rose about 2.89% to 3375 yen, investors saying it had fallen to a level undervalued.
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Declining tax revenues and rising costs: the state budget did not end in 2009, suffering from this terrible effect scissors. The budget deficit widened to 143.3 billion euros in November 30, cons -66.6 billion a year earlier, said the Budget Ministry on Tuesday.
The difference, over one year amounted to 76.8 billion euros. He "explained mainly by the impact of economic conditions on changes in revenue and up to 34 billion euros by the end measures of recovery plan," says the ministry said in a statement.
In late November, total expenditure amounted to 329.7 billion euros, 13.9 billion more than a year ago. A difference can be explained by the cost recovery plan, advance Bercy."Out Recovery Plan expenditure (general budget and levies on revenues) increased by 850 million euros a year to another," says he.
In late 2009 the fiscal deficit, however, register under the 140 billion euros, one billion less than originally planned, said the Budget Ministry. This table to limit the deficit on tax revenue in December "slightly less degraded" and on "buoyant spending.
Direct consequence of this widening deficit, government debt under the Maastricht should represent 77.9% of GDP at end 2009 and 84% of GDP in 2010. To fill this gap, the state will borrow this year to market a record $ 188 billion.
"Serenity insured for your Christmas shopping: place an order before 12:30 pm December 22 with fast delivery or before 16:30 December 23 with the Lightning shipping, and Amazon.fr you book in time for Christmas in metropolitan France and Monaco!". In his mail, Amazon reassuring. However, a strike after the tip of his nose in the only warehouse logistics France, in Saran, Loiret. On site, 40 employees on the 1200 account that the site have ceased trading on Tuesday's call to denounce FO difficult working conditions and wages too low.
The trigger was the decision of management to Amazon to unilaterally raise salaries by 1.5%. "We wanted a dialogue and we have not been heeded. This increase represents an increase of 18 to 20 euros net per month.It is insufficient to increase purchasing power, "complains Sebastian Boissonnet, Steward FW from Amazon. The union does not fail to recall that in the third quarter, the site of online sales has earned a 68% growth in net income. Its operating profit rose 62% to 251 million dollars for a turnover up 28% to 5.45 billion dollars.
Recognizing this, the strikers demanded a general increase of 4.8%, a 13th month for employees, supervisors and managers, meal vouchers supported 60% by the company, and finally a budget increase of Works for social works.
No disturbances
To listen to the strikers themselves, the service should not be disturbed. The company has in fact appeals to a reinforcement of 600 to 700 to ensure the temporary work.Tuesday, Amazon reminded the AFP's requirements: "Our customers are our priority, we continue to do our best to ensure the quality of the experience of shopping on Amazon is optimal, and this obviously includes the fact to be delivered in time for Christmas. " Contacted for comment on Wednesday wage demands, the U.S. did not wish to speak.
Pressure
For the union, this strike will probably not reopen discussions but it should attract attention on the working conditions of employees. According to FP, these are deplorable and become even more in October, early Christmas shopping. "We always stores addition, discharge huge pallets without security. When one points out, we answered 'done with'.On 7 hours of work, we have only 23 minutes break, so we ask for 10 more minutes, "says Sebastian Boissonnet.
The pressure is also very hierarchical palpable. Hence the low mobilization. "There are services management at the plant. Since Tuesday, the manager came to us saying 'think about what you do'. "
For now, the union discussed the action in motion. This is the first strike from Amazon. A baptism that the company could have done at this time of celebration. Especially since the group table, during this period, a boom in sales of between 21% and 36% compared to fourth quarter 2008.
