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Experts have not yet returned their verdict about the seriousness of the situation on the gas platform of Total in the North Sea. But analysts have already whipped out their calculators and trying to measure the cost of the incident for Total and stakeholders. The range of estimates is very wide: it extends to the French oil group, 150 million dollars (113 million) to $ 10 billion (7.5 billion euros) in case of explosion of the platform.

In all cases, it appears that the bill implied $ 16 billion (12 billion euros), deduced from the fall of Total shares on the stock market, is largely overestimated, says Societe Generale. "A loss of over $ 7 billion (5.3 billion euros) for Total (which holds 46.2% of the platform) seems particularly severe," wrote analyst Societe Generale. The impact on production will remain relatively moderate and the final cost in a worst case scenario hardly exceed the amount implied by the Exchange.

150 to 200,000,000 dollars

To try to guess what the final bill of the incident, calculate how much is the cessation of production from the platform evacuated Sunday at midday. According to CM-CIC Securities, the daily loss would rise between 10 and 15 million. "For Total, one can estimate a minimum cost of 150 to 200 million dollars in the best case (limited to two weeks off) or even more if the situation were to persist for several months' advance CM-CIC Securities. The shutdown could last from six months to a year, according to various analysts. An official of Total recognized that blockage could last up to six months.

$ 10 billion in case of explosion

The bill also depends on the solution proposed to solve the crisis. Exane BNP Paribas, estimated that operators of the platform may have to dig two relief wells, each costing about $ 44 million (33 million) direct payday lenders. Remains a possible explosion on the platform would jump costs for operators. The bill could reach 7.5 billion according to analysts at BofA Merrill Lynch. This amount includes the loss of deposits and the platform (about 2.8 billion euros) and nearly $ 1.5 billion to clean up environmental damage, but excludes any fines.

Analysts agree on one point: this incident, which involves gas and not oil, will not scale environmental or financial cost of the oil spill in the Gulf of Mexico in April 2010. The operator of the platform involved in this disaster, the oil BP, had to set aside $ 37.2 billion (24 billion euros).

Between 100 and 200 million pounds less for Crown

Stopping exploitation of the Elgin platform in the North Sea could also have an impact on … tax revenues of His Majestys. "If the site remains closed door for six months, this could result in a revenue loss of between 100 and 200 million pounds (119 and 238.4 million euros)," David has calculated Tinsley, an economist at BNP Paribas . This amount, compared to 43 billion pounds collected by the British state in 2011, does not include any costs of cleanup. The invoice is not limited to the tax shortfall. British production, already amorphous, could also be slowed, says the analyst, who concluded that the country's growth could even be reduced by 0.05% in the second quarter.

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The CEO of Veolia Environnement Antoine Frérot, threatened three weeks ago by a coup attempt, Friday conducted a redesign of the Group Executive Committee to accelerate the implementation of its strategic plan.

"Denis Gasquet (Director of Operations, ed), Olivier Orsini (Executive Vice President and General Secretary, ed) and Jean-Pierre Frémont (executive vice president of public authorities and business, ie) left the band," said a statement Veolia, which had already revamped its board of directors Thursday.

Thursday, Antoine Frérot had already reached not to renew the appointments of two directors, the businesswoman Esther Koplowitz Spain and the former head of Sanofi Jean-Francois Dehecq, considered close to former CEO and current CEO of Veolia EDF Proglio. At the Paris Bourse, the Veolia Environnement has accelerated its rise, taking 4.53% to 12.69 euros in a market up 0.26% shy to 3:12 p.m..

Public outcry over Proglio

Disagree with the strategy of his successor to reduce the size of the group, including pulling of the activity of public transport, for deleverage, Proglio, director of Veolia always, wanted, according to press reports, Mr. Frérot to land and Borloo put in its place. But the outcry over this scenario had aborted the project.

The Executive Committee of Veolia from nine to seven members. Six were already (Jérôme Gallot, Jean-Michel Herrewyn, Franck Lacroix, Jean-Marie Lambert, Jerome Le Conte, Pierre-Francois Riolacci). It hosts more Sylvain Boucher. "This entire executive committee is engaged with determination in the successful implementation of the strategic plan," says Veolia. The group recalls that this plan is to refocus on the water, waste and energy services, reduce costs of 420 million euros by 2015, to sell 5 billion euros of assets and reduce debt to below 12 billion euros at end 2013.

As part of the Post found hanged at his place of work on Sunday in Finistere, Brittany, had documented his act. In a dossier of account, minutes of meetings, videos and audio recordings, man details his charges against the company. This is the second suicide in the Breton Post in ten days.

In the documents left behind, under forty, married with two children, due in particular that it "considers the hierarchy of the Post (all levels) to cause (s) has lost their bearings." "For over three years, I feel an eagerness, a desire hierarchical cornered me," says the executive who had been off long illness since November.

"Let me go"

"Let me go, it's my choice," he says in a document circulated by SUD. In a note called "My Requests", in which he says refuse any resuscitation, be prepared to donate organs and calls for burial "in family privacy" without "any representative of the corporate hierarchy, or other message the same hierarchy. "

In another note called "Appendix", he asked whether a pension for his family is' likely ',' getting that (s) are desperate gesture is reclassified as industrial accident. "

Among the documents, is also an email to the CEO of the Post and Jean-Paul Bailly dated March 11, the day of his death but not sent. In this mail, whose purpose is "SOS", the framework itself "back to the wall." He considers that his "career is over at the Post," saying fear, "in the best case," a shelved. "That's twice in less than six months that I prepare my suicide," he wrote.

"Everything was prepared"

Patrick Campion, SOUTH delegate in Finistère, said in the email sent on the day of his death to trade unions, he said it had "left other documents home" to the CGC, CFDT, CGT and SUD. He said he had recovered these documents Tuesday.

"We were given a shirt, a pocket where everything was prepared. In these documents included a series of letters, minutes of the account of interviews and two CDs, one with videos and one with lots of other documents, including audio recordings of conversations he had with his superiors "said Patrick Campion. For Blanchot Regis (SUD), these documents, in which part "explains how the Post has destroyed" prove the link between drama and work. The unions will ask the qualification of this accident as suicide.

A HSC held Wednesday at Vannes has voted to recognize this act as "accident service" and the cessation of ongoing or planned reorganizations, said the unions and management. In a statement after the meeting that lasted all morning, the unions also state that the HSC is to "use a certified expert on the effects of reorganization and managerial pressures."

Finally, unions and management announce "stop all ongoing reorganization and future direction of the e-Western Brittany (Morbihan and Finistère) until the publication of the findings" of the various surveys and assessments.

After Jeremy Bouan, chief executive of 28 years, has defenestrated in Rennes on 29 February, an investigation was initiated by the committee on health, safety and working conditions (HSC) La Poste de Rennes. Two others are being conducted by police and labor inspection.

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And if the MBA was also a way for women to break the glass ceiling that still separates them from the highest leadership positions? This is certainly what some have program managers, for which women and men have access to essentially the same functions and to pay out of the MBA. However, these formations are still far from parity show.

"An MBA is between 23 and 35 years, staff in terms of timing may be more complicated for women than for men. They have perhaps more confidence in risk-taking than their female colleagues, "said Caroline Diarte-Edwards, director of admissions at Insead.

More exposure

Still, promotions tend to feminize more. Many have now surpassed the 30%. Their recipe? "A program midway between competition and cooperation, in which our participants say they feel comfortable," suggests Bernard Garrette HEC. Professional networks of women in the alumni associations have also developed, giving them more visibility.

ESCP Europe, Audencia, EM Lyon announce fellowships dedicated to women for the next school year. "The financial aspect is not longer a barrier for women than for men, but by creating a scholarship, we are sending a message to women that we can support them in their career," says Chantal Poty, in charge of the Executive MBA from the Lyons school.

Emmanuella Renac, participant in the Executive MBA from ESC Rennes

Within weeks, Emmanuella Renac deliver his memory, a step that will sign the end of his Executive MBA, started 20 months earlier paydayloan. With the relief of having completed training "demanding, very involved, during which we soon learn to sleep less, to better organize and optimize their time." But also the satisfaction of having learned everything she had come to seek. After 10 years of experience in purchasing and product marketing of electronic components, it feels the need to broaden its horizons, discover new work environments and meet new people.

"He holds a university degree, the MBA has an international recognition that seemed interesting. It was also a process for a senior position because as a woman, you must demonstrate more things a man, "she says. Surprisingly, she discovers the only French woman of her class and encourages her peers to engage in an MBA. Training for which it has borne fruit. Supported by his chief and his HR, although the company did not fund the training, Emmanuella Renac wins quickly after the start of training a sales manager position. "Follow the MBA gave me a status in the eyes of superiors who had an MBA and became interested in my studies. Everyday, I was also entrusted with new missions, in judging me capable of carrying them out ", says she.

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In a few days, the management of Air Méditerranée know the number of candidates to voluntary redundancy scheme and the number of those who wish to be reclassified from Hermes Airlines, a Greek subsidiary conveniently created in August 2011 by Anthony Ferretti, the president and largest shareholder Air Méditerranée.

The new company proposes to take Greek pilots and stewardesses its parent, provided they opt for a Greek status and pay accordingly – lower by at least 30% to those in force in France.

Affected by the Arab Spring

Outwardly, nothing appears. The three aircraft in the fleet of Hermes Airlines registered in Greece wear the shoe Air Méditerranée. Flights operated by these aircraft are also consistent with those made by the parent. Hermes is it then a ghost airline intended to lower costs to manage the activities of its parent company in trouble? "It's ten years as the president of Air Mediterranean dream to relocate, says a captain of the company. At first he did not dare use the word. Today, it frightens him more. He says it is for our good and it will help revive the company's business. "

Mediterranean air, which mainly works with tour operators and individuals by selling low-cost flights on the Internet, has been hard hit by the crisis Tunisian and Egyptian. In 2011, it achieved a turnover of 220 million euros and would have recorded a small loss.

Unions, convinced that the "relocation" was illegal, responded: "We met with leaders of the General Directorate of Civil Aviation (DGCA) on numerous occasions, said Denis Roumier, the SNPL. But they told us that there was nothing illegal in this montage. Nothing prevents an employer to operate equipment by registering in another country. ". Hermes Airlines has recruited crew members from different nationalities in Greek status to ensure the flights of the three devices with operating licenses Greek.

The salary of a hostess who received 1200 euros net per month in France rose to 900 euros in Greek status. That of a captain of 5000 euros to 3700 euros a copilot from 3500 to 2600 euros.

By summer, the Greek subsidiary should operate six aircraft, as declared by the president of Air Mediterranean in council.

Faced with this "misuse" of their flights, the 450 employees of Air Mediterranean – including 85 in CDI will leave the company under the plan to safeguard employment – wrote an open letter to President: "In the process things are going, we expect, if nothing is done, not only to pursue the relocation of six ten but had to start our whole fleet, the disappearance of our company and, worse , that the method is spreading to other French airlines … "

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France Televisions will participate there in the war effort budget? MPs Gilles Carrez, chairman of the Finance Committee, and Patrice Martin-Lalande, deputy of Loir et Cher, a member of the Finance Committee and co-chair of the Task Force Internet, broadcasting and information society, the same wish if the means differ slightly.

Specifically, this is to limit the payment of appropriations made to the public company for the loss of advertising revenue due to the partial shutdown of advertising on the main branches of the group since 2009. France Televisions already committed for 2012 to increase its advertising revenue from 410 to 425 million euros but also revert to the state 28 million euros in credits not used by the public group.

But the chairman of the Finance Committee would go further.

As to give grist to G20 ministers meet farm late Friday morning in Cannes, the FAO food price index released yesterday registered a sharp decline after months of increases. It stood at 216 points in October, its lowest level in 11 months. "Prices nevertheless remained generally higher than last year and remain very volatile," says to FAO, the UN Food and Agriculture.

The fight against price volatility in agricultural commodities is precisely the heart of the priorities that the ministers of agriculture have taken in June in Paris during the holding of a special agricultural G20. These will draw Friday a first assessment of this work."The challenge for leaders is to find ways to constrain the natural volatility of the courses without mask or minimize the aggravating factors which tend to look the part of financial markets," said Didier Rousseau, expert industry the agri-food consulting firm Weave Same day payday loans. Volatility can be explained according to the expert by "the increase in global food demand, the emergence of biofuels or the occurrence of weather-related disasters."

The five commitments that will be discussed and reviewed at the G20 agricultural Cannes

• Establishing information system on agricultural markets (AMIS). Hosted by the FAO global database that aims to improve transparency and information on agricultural markets of four major crops for food security (wheat, rice, corn, soy).

The optimism was short-lived on the Asian markets. After an encouraging start of the week, the markets plunged again in the red, the footsteps of European and American stock exchanges. Hopes that the problems of sovereign debt in the euro area resolved quickly, as promised last weekend by the Franco-German duo have been showered by the rejection by the Slovak parliament to the expansion of financial aid funds the euro area (EFSF). Last country to vote on the subject, Slovakia was expected by the markets at the turn. This decision may slow the process of post-crisis recovery that the pessimism of the operators. A second vote, however, could be organized with the support of the left opposition which requires the holding of elections in exchange.

In addition to these political deals, investors are disappointed by the results of the aluminum giant Alcoa.The latter, which traditionally opens the ball results in the United States, reported Tuesday a quarterly profit below expectations, attributed to slower economic growth since mid-2011.

The U.S. Senate penalizes the yuan

In Japan, the bad news drive the Nikkei down. At the end, it gives up 0.40% to 8738.90 points. The broader Topix index has eroded his side of 0.21% to 753.44 points. Export values ​​are undermined by a strengthening of the yen was down 0.27% Toyota, Honda of 1.79% and 4.07% Nikon loose, affected by its decision to suspend production in Thailand by the floods that hit the country. For the same reasons, Toyota announced that he was forced to suspend production for the week in its three plants. Values ​​related to energy are affected by the poor results of Alcoa.Sumitomo Metal Mining loose eg 1.64% no fax cash advances.

Please note that orders for capital goods in the private sector in Japan, excluding energy and shipbuilding, jumped 11.0% in August compared with July, according to the government Wednesday.

Australia's S & P lost 2.09% to 3325 points. Values ​​related to the sector of raw materials are affected by Alcoa. BHP Billiton drops 1.20%, 2.51% Alumina and Rio Tinto 1.59%.

The Hang Seng in Hong Kong manages to remain in the green, up 0.63% to 18,255 points, as the Shanghai Composite Stock Exchange Shanghai jumped 2.16% to 2399 points. Always driven by Beijing's decision to support the banking sector, Agricultural Bank of China gained 1.34% and 1.13% Bank of China.Moreover, the U.S. Senate on Tuesday approved a bill to penalize China, suspected of manipulating its currency to boost exports, despite the reluctance of the White House. The adoption of the bill is a "severe sprain" the rules of the World Trade Organization (WTO) can cause a "trade war", responded Wednesday to the Chinese Ministry of Foreign Affairs.

The Korean Kospi follows in the footsteps of Chinese markets and advances from 0.50% to 1803 points. Even bullish on India Sensex climbs to 1.10% at 16,718 points.

Oil down

The price of oil was down at the opening Wednesday in Asia, where the market re-Slovak pessimistic after the rejection of strengthening European support fund and the estimated demand for crude revised downwards by OPEC.

In electronic trading, a barrel of "light sweet crude" for November delivery lost 1.04 dollars to 84.77 dollars. Barrel of Brent North Sea crude for November delivery gave 74 cents to 109.99 dollars.

The automotive sector is on the alert. As shown in Le Parisien on Saturday, Brussels would consider tax per liter of diesel in Europe from 8 to 15% more than gasoline. A directive to this effect must be examined by the European Parliament in November for an application expected in 2013. Objective: To fight against this highly polluting energy, used by nearly 7 million cars in Europe.

The European Commission highlights the paradox between a cleaner gasoline and cheaper duty-sold more expensive at the pump, and diesel more expensive duty free, massive source of emissions of fine particles hazardous to health, and less expensive for motorists. She said outside the UK, the tax treatment of petrol and diesel in Europe is "flawed" and needs the overhaul.

Concern

For manufacturers, the news comes at the worst time.These are already working on the application in 2014 of Euro 6, which calls for reducing carbon emissions and fine particles. This standard requires them to implement expensive technology on diesel vehicles that will increase the price of these cars from 1500 to 2000 euros pay day loans. What scare away customers. If in addition the price of a liter of diesel fuel were to increase significantly, the diesel car market could collapse.

The Committee of French Automobile Manufacturers believes that the introduction of this directive in France could lose 20 points of market share on the sale of diesel cars. In the columns of Paris, its president, Patrick Blain, worried: "The decline in production in French factories (on the cutting edge in the field of diesel, ie) would inevitably have social consequences," he warns.

Professionals and individuals may also choose to get rid of their cars too expensive, which could lead to plummeting prices of diesel cars. "It may be possible to adopt transitional measures that will leave everyone time to adjust," said he.

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