Archive for the ‘special’ Category

Overcapacity threatens refineries

February 6, 2010 - 12:00 pm Comments Off

Nothing goes into refining. While Total is planning to close its plant in Dunkirk, lack of opportunities and a sufficient margin, the French Union of Petroleum Industries (Ufip) drives the point home. The situation is "critical," said Jean-Louis Schilansky, its president.

Twelve French refineries are losing "150 million euros a month" since March 2009, and the industry continue to suffer in 2010. The closure of the site Total to Dunkirk, which alone accounts for 13% of the French ability, do not change much, according to Ufip, which dealt with the topic at European level.

"This is not the closure of a refinery in Europe that will be enough to restore the situation," says Jean-Louis Schilansky. It should delete "7 to 8 million barrels per day, or about 10% of installed capacity in Europe."In other words, on the 114 European refineries, "a half" should be closed to restore the balance between supply and demand.

Shell reported a loss of $ 1.7 billion

In France, controls oil products fell by 2.8% in 2009 and nearly 9% in ten years. The economic crisis is not the sole cause of this decline free credit score . Consumers roll than before, and prefer diesel to petrol. Furthermore, the refining overcapacity and inflation of the multiple requirements of ecology and safety is increasing pressure on margins. In this context, the French oil industry does not want to hear about carbon tax."If, in this very difficult situation, we add a layer, it will be worse here," warns Jean-Louis Schilansky.

Total is far from the only group to suffer in oil refining. The U.S. Exxon announced last week a loss of 189 million dollars in this activity in the fourth quarter of 2009. BP just to break even on this trade. Shell yesterday announced an annual loss of $ 1.76 billion in its refining division. This is the "worst crisis" for this activity for twenty-five years, and it does not end in 2010, warned Peter Voser, Shell's CEO. The British giant is planning to sell or close 15% of its portfolio in refining.

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"Total closure differs from Dunkirk

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Who Licenses do not recruit abroad

January 12, 2010 - 7:06 pm Comments Off

The prefect of Vienna, in his words, "stuck a little face." Reason for dissatisfaction: Sweden's Autoliv, owner of the manufacturer Autoliv flying car-Isodelta, announced last week in the press came from 22 of his Tunisian employees, to compensate for a lack of manpower on the site Chira-en-Montreuil. Flat: This reorganization comes barely a year after that 80 employees of the company have been acknowledged. "Autoliv has chosen to relocate to Tunisia. Very good. But they take and they do not come here of Tunisian Workers' prevents the secretary general of the prefecture of Vienne, Jean-Philippe Setbon.

Production of flying is in fact shared between the site of Chiré en Montreuil (680 employees), and El Nadhour Tunisia (700 employees).The leather trim has been relocated there fifteen years since the two hours required for each transaction made it difficult profitable in France. But shortly before Christmas, the Tunisian factory hand in flames. It seems logical now to work exceptionally Chiré en Montreuil some of these employees unoccupied. It is effective without the vigilance of the prefect. "When he read it in the press, he asked me to call the consulate of France in Tunisia to halt issuance of visas," says Jean-Philippe Setbon. 80 interim have been recruited to ensure the controls.

La Bourse de Paris concluded the week up

January 8, 2010 - 11:46 pm Comments Off

After three sessions "for nothing", investors seem to be a little more optimistic on that last week's meeting. The publication, at 14.30, figures on U.S. employment for the month of December has revealed an unemployment rate stable at 10%. The U.S. has destroyed 85,000 jobs over the last month of the year, far more than expected by economists.

Recall that the statistics revealed in December for the month of November had been particularly good. Yesterday evening, the U.S. stock exchanges closed at equilibrium. While Asia has ended in hesitation, but with a jump in Tokyo.

In an interview with Le Figaro, Patrick Devedjian, minister responsible for implementing the recovery plan, draws up an initial assessment.More generally, Aurel BCG 'fears about the quality of the debts of some Member States and economic indicators still very erratic combine to maintain doubts about the prospects for the euro zone, including short term. "

At 11 hours, Eurostat reported unemployment in the euro area rose, reaching the symbolic threshold of 10% and confirmed that the rate of GDP growth stood at 0.4% in third quarter, compared to the second.

In France, the trade deficit of France was again widened in November. It reached 5.304 billion euros, according to Customs. Later, investors will also some attention to the index of construction costs in the third quarter in France. In Spain, industrial production fell 5.7% in November.

On Thursday the Bank of England decided to keep rates unchanged.The day before, the minutes of the Fed suggested a prolonged status quo on U.S. monetary policy.

On the currency front, the euro has stabilized against the dollar, traders taking a cautious stance before the publication of figures for U.S. employment.

Veolia Environnement still leads

In this market optimism, Veolia Environment (+3.91% at 25.10 euros), still leading the ranking of ACC 40, supported by integration by Goldman Sachs in its list of preferred values. Dexia gained 1.55% to 4.98 euros, while the bank has good looks, including Societe Generale, which won 1.50%, to 51.53 euros, which warned Friday it wants to consolidate all its assets Toxic scattered around the world.

Conversely, Renault lost 0.78%.The group should choose to assemble its new model on the site of Bursa, according to the Tribune on Friday.

Out of CAC 40 companies and Gameloft Beneteau derive Sector Index leisure facilities to increase (+2%). Beneteau (+8.80% at 12.49 euros) has announced a turnover of 87.7 million for its first quarter 2009-2010.

About the 400M (which actually date a third flight), "at a meeting of Secretaries of State will be held in London January 14," said a spokesman for the German Ministry of Defense AFP.The boss of Airbus (EADS subsidiary, 0.99% to 14.35 euros), the German Thomas Enders, has told a Christmas dinner of the director in December that it would " believed in a continuation of the program, and have begun to prepare its end, said Tuesday the Financial Times Deutschland.

The state, which holds more than 90% stake in Areva (-1.4% to 370.55 euros), discussed today with three partners in particular: the Japanese industrial Mitsubishi longstanding partner of the group nuclear, Qatar's sovereign wealth fund and its counterpart in Kuwait.

Bolloré Telecom, cantor of WiMax and a subsidiary of Bolloré Group (+0.17% to 118.20 euros) just bought the operator Altitude WiMax licenses of Alsace and Burgundy regions.

The second French operator of mobile telephony, SFR (subsidiary of Vivendi), claimed on Thursday offers the most complete multifunction phones, thanks to exclusive deals with Palm and Google. Vivendi (-1.18% to 20.86 euros), precisely, the trial in New York continues its course. This public trial in class action accuses the group of giving financial communications strompeuses between 2000 and 2002.

Rentabiliweb announced this morning launching a capital increase of 10 million euros. Its shares are now traded on Euronext, and not on Alternext.

Apple buys an advertising agency

January 5, 2010 - 10:26 pm Comments Off

After being soufflerAdMob by Google in November 2009, Apple bought its competitor, Quattro Wireless.Selon "All Things Digital", which reveals information, the cost of the transaction amount to 275 million dollars.

Since its inception in 2006, Quattro Wireless has raised $ 30 million from Highland Capital Partners and Globespan Capital Partners. And, like AdMob, a start-up U.S. markets advertising space on smartphones like the iPhone apps (Apple) and Android (Google). Among the thousands of sites it has governed are those of Disney, Ford and the National Football League (NFL).It is thus the second acquisition announcement made by Apple in the space of one month in e-Business, after the service of streaming music Lala.

Regarding his future shelf, "islation, which will be presented January 27, it should be available in March for $ 1,000, according to the Wall Street Journal, citing people" briefed by the company. " Kai-Fu Lee, former head of Apple, announced on his blog that the company Apple plans to sell 10 million of touch pads in 2010. According to analyst Gene Munster of Piper Jaffray, Apple can expect to sell 1.4 million copies of their tablets during the first year, from March 2010 to March 2011.

Wall Street opens at equilibrium

December 31, 2009 - 7:23 pm Comments Off

For the last meeting of the year, the U.S. markets move down slightly: the Dow Jones lost 0.07% at the opening, and the Nasdaq Composite yield 0.08%. The volume should be particularly weak in a few hours and Eve in the absence of significant news on the business side. Entries weekly unemployment have been lower than expected, which could support the trend.

The rise of the euro is lower because of "good" figures of unemployment in the United States. The euro bought 1.4372 dollars against 1.4386 dollars in early morning.

Good indicators Americans support the dollar because they "reinforce expectations of an early withdrawal of measures to support the economy in place by the U.S. Federal Reserve (Fed)," explained brokers ETX Capital.

On the currency front, the dollar is declining due to adjustment of positions at year end.Futures on the Nasdaq 100 and S & P 500 are respectively increased by 0.09% to 1878.50 points from 0.14% to 1123.70 points.

As for values to follow, we will keep an eye on Ford. Geely has announced that it was supported by the Chinese government to acquire Volvo, the Swedish subsidiary of Ford Motor. "Without government support, the transaction could not be done," said Gui Chengyu, CEO of Geely Auto, quoted by Reuters. "The ultimate goal is to list Volvo Award," added the officer.The first private Chinese automaker also said it expected robust growth of automobile sector in China next year, with support from Beijing.

AIG has announced the departure of its Legal Director Anastasia Kelly, who was to receive millions of dollars in compensation to départ.Le U.S. government imposed in October cuts in executive pay of the seven companies have been bailed out by the more 'State, including AIG.

The Paris Bourse exceeds 3900 points

December 24, 2009 - 9:23 am Comments Off

The two bad U.S. indicators were not sufficient to curb the enthusiasm of investors on the Paris Bourse. The CAC 40 closed up about 0.32% to 3910.75 points, above the threshold of the fateful 3900 points. When the transaction volume, it remains very low at 1.9 billion euros.

After a setback, following the publication of figures for new home sales in the United States and the index of consumer confidence, the market has finally resumed.

The detailed values follow …

Greater borrowing choices Sarkozy

December 14, 2009 - 10:28 am Comments Off

Nicolas Sarkozy unveiled Monday morning during a press conference at the Elysee Palace, his final arbitration on the general borrowing. An announcement comes more than two weeks after submission of the report of the Committee-Rocard Juppe, in charge of determining "the strategic priorities for investment and domestic borrowing. The Head of State took its time in the interval, receiving unions and consecrating a shift on this subject last week in Alsace. An inordinate delay on the part of the Elysee. "To spend 35 billion euros, is not nothing, it takes a bit of reflection," said a government official.

On the merits, the amount and priorities recommended by the two former prime ministers have not caused major problems.The government feels "quite consistent" with the report's proposals: the head of state has already said he would follow "broadly."

Elysee Matignon and paid closer attention to prioritization. The Committee recommends investing 35 billion of public money which, coupled with private funds, could reach 60 billion of new investments. A portion of public money – 13 billion – will come from money borrowed last year by the government to support banks, which have paid much since. The Head of State should announce that in 2010 France will borrow twenty billion more, a level considered tolerable for the public finances by officials of Bercy. A priori, the loan should be exclusively reserved for markets.The idea of opening some individuals, which is mainly political advantage in strengthening adherence to the French investment in the future is rejected by most government advisers who find it too expensive. Nicolas Sarkozy is expected on this very subject this morning.

As for investment priorities, the cursor should be slightly adjusted.Perhaps a little more towards the industry, much less on research – which is carving out the lion's share of recommendations Juppe and Rocard, with a budget of 16 billion euros.

Beyond the substance, the advisers of the Elysee have mostly reworked the governance component of the report: who will handle money and how? "We do not want to create a gas plant," observes one government where one is not willing to sprinkle the funds raised through borrowing.

Matignon should have the task of managing the money

The report Juppe-Rocard proposed the establishment of three branches (a branch of renewable energies, a digital campus and Excellence). "Why create new structures? Both use what already exists, "says an adviser. This will Matignon – "the place par excellence Inter, says one – which should have the task of managing the money borrowed.The question of appointing a minister of the loan, the report rejected by Rocard-Juppe, has not been finally determined either. Rather than a minister, Nicolas Sarkozy could create a post of high commissioner, less political and more easily placed under the authority of the Prime Minister. The bill will be considered large loan January 20 the Council of Ministers.

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Towards a "super tax" on the bonus in Great Britain

December 7, 2009 - 5:56 pm Comments Off

After months of debate, the British government seems determined to legislate on the issue of bonus. According to the Financial Times, the British government would consider introducing in its 2010/2011 budget, a "super-tax" which would tax specifically bankers' bonuses. Alistair Darling, Chancellor of the Exchequer, is expected Wednesday to unveil the outline.

In detail, the Financial Times said the tax would be collected over a certain level of bonus, for a limited period. All banks, foreign as British, there would be submitted. Alistair Darling has already said in an interview with the philosophy of planned "at a time as difficult as this one, I think people understand that it is expected that the broadest shoulders bear the weight heavier, "he said.

If this new tax should raise the ire of the City, no doubt he should be more popular among the general public, where the rating of banks is the lowest. The latest bonuses earned by traders for major banks face because the British public, even though these institutions had been massive aid of the hundreds of billions of pounds to prevent collapse of financial system.

Public Accounts bloodless

The government hopes the measure to address tensions of its population, faces rising unemployment and an unprecedented rise in the deficit, which should approach or exceed this year's 12.4% of GDP.

The British traders would thus free of the controversy that accompanied the rescue of banks.The banks are expected to share their escape all taxation, although the government had proposed to levy a tax on profits of banks. However, despite the fact that this option would yield, according to the Times, two billion pounds with a 10% tax, the idea was abandoned, the Financial Times. Still, this measure alone would not have a heavy impact on public finances bloodless. Prime Minister Gordon Brown was to deliver a speech today on the need to reduce spending. It has notably reduced by four the deficit, which will necessitate other arbitrations.

The Walker Report on the bonus shook the City

Alice launches its Triple Play 19.99 EUR

December 1, 2009 - 4:28 pm Comments Off

After Numéricable cable operator, it is the turn of the supplier Alice offer a so-called Triple Play, includes in a single package the internet, television and telephone for less than 20 euros (19.99 euros). This offer has just been launched is reserved for new subscribers to access broadband internet dedicated, unlimited calls to landline numbers in 60 destinations and 60 television stations.

The parent company also owns the Iliad ISP Free, used to practice low price to differentiate themselves from competition (pioneer Tripe Play offers 30 euro launched in 2002).Last September, Numéricable announced the launch of its triple play offer to 19.90 euros per month, which will take effect within days.

If consumers see a good eye that price war among operators to reduce their bill each time, lower tariffs may lead to a loss of associated services, such as controversial after-sales services, including quality has often been lacking in the area.

The morale of French households is still improving

November 27, 2009 - 6:08 pm Comments Off

French households have become even more confidence. Their morale even accelerates its rise in November according to latest figures from INSEE. And despite the very poor unemployment figures in France, published Thursday by the Ministry of Economy.

The indicator that summarizes this view and goes back to 4 points from October. The indicator leaves the historically low levels where it had fallen since late 2007 to return to the previous values of the floor last fifteen years in the hollow of 1995-1996 and 2005.

The views of households on the economic situation, which had hit a historic low in the summer of 2008 to -48 points, had subsequently begun a slow recovery phase and marked by a few shots off.In November, with this "improvement", he moved to -30 points, says the National Institute of Statistics.

Statistics rather encouraging in a few weeks of Christmas and New year period during which the French consume far. While Americans seem less inclined to spend than other years – the shopping season starts this Friday – French households also felt more appropriate to make major purchases, such as winning 5 points in a month.

The fear facing a future increase in unemployment continues to recede, but much more slowly than in recent months.

As for inflation, households continue as they have for more than six months, thinking that prices should increase only slightly in the coming months.