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Saab divorce Hawt

Thursday, May 12th, 2011

It was an ideal solution to address the financial situation of Saab, whose factories are shut down since the beginning of April. Under the agreement signed in Beijing on May 3 last year, the Chinese carmaker Hawt should be made to the Swedish brand, owned by Dutch Spyker, the 150 million euros needed to boost its production and pay suppliers.

But the agreement was canceled Thursday Spyker said in a statement. "Since Hawt was unable to obtain necessary consents from its shareholders, both parties are obliged to cancel the agreement," said the document, noting that the two companies will lead discussions for possible cooperation "without being exclusive."

The spokesman for Saab Gunilla Gustavs, gave no details about the role of the report of the Embassy of Sweden, published on May 5 in the cancellation of the agreement between the Swedish brand and the Chinese producer. "Work continues to ensure funding in the short term and medium term," she said in comment on the decision of Spyker. "No deadline has been set for the discussions, but to reach an agreement remains our top priority easy payday loans."

Another Chinese group in the partnership

Hawt Motors automotive group was surprised by the decision of rupture. According to statements obtained by Xinhua, the marriage between Saab and Hawt was taken too Quickly.

But while Saab would not be lost. A partnership between the Swedish manufacturer, Hawt Beijing BAIC and the producer would be considered.According to a press Hawt, "it goes beyond a simple strategic partnership, promoting a common technology, which could further develop the production." For its part, Reuters says that the Chinese automaker Great Wall would still be interested in investing in Saab.

Following the cancellation of the agreement, analysts in the automotive sector, concerned about the future of the Saab brand. Tom Muller, an analyst Theodoor Glissen, announced that during the first three months of 2011, Spyker has spent nearly 70 million euros to keep the brand afloat. "The group lives on a daily basis, and not because he has no funds to meet future orders. It is already making money from its suppliers.

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A beaver dam obstructs an oil spill

Friday, May 6th, 2011

Unusual. A beaver dam to stem a large oil spill. The rupture of a pipeline company Plains Midstream Canada near a native village in the north of the Canadian province of Alberta has caused the discharge of the equivalent of nearly 28,000 barrels of oil. But the escape of fuel has been stopped in the race … a dam built by beavers!

Oil spilled on a strip of about 700 meters long and 30 meters wide but was isolated at about 300 meters of a watercourse. "It is true there is a beaver dam in this area and that it contained the spill at first," said Wednesday the Alberta Minister of Environment Rob Renner.

"Minimal impact on wildlife"

This rodent, particularly the Canadian beaver is known for making huts and dams on streams and rivers.Margaux Rat, research officer at FRAPNA (Fédération Rhône-Alpes de Protection de la Nature) stresses that the beavers' dam had to do in advance to maintain a water depth or a certain dynamic that hydrosystem it occupies. "

Helped by beavers, the Environment Minister was able to declare: "The situation is under control." However, the leak is found the largest since 36 years in the oil province of western Canada.

Finally, the accident has had a "minimal impact on wildlife," stated Rob Renner. The death of a dozen ducks and beaver is to be deplored.

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Fuel: a gesture of 115 million euros

Monday, April 11th, 2011

Producers, refiners and distributors of French petroleum fund to the tune of 115 million euros increase in tax deductions related to fuel costs, a "drain" on their profits that will benefit six million of taxpayers.

This measure implements the contribution of the sector with measures that would cushion the blow of soaring pump prices, which reignited the debate on fuel taxes and the state's capacity to curb the soaring costs of household energy, accounting for about 8% of their budget.

"This morning, the oil industry players have agreed to contribute to reducing the oil bill of the French," said Christine Lagarde, Minister of Economy, during a press conference at the end of a meeting with industrialists.Specifically, they will fund the cost of upgrading from 4.6% of the fee structure of fuels that employees and independent workers can elect to deduct from their taxable income. This measure is expected to reach five million workers, 500,000 people in professional and 500,000 merchants and craftsmen, "said Frédéric Lefebvre, Secretary of State for Trade.

"Aspiration"

The funding provided by the manufacturers take the form of a tax allowance for price increases passed in the 2010 accounts. It will weigh up to 60% on producers and refiners "in particular the Total group," said Christine Lagarde, and 40% on distributors, who declined an invitation to the meeting of Bercy."It's a real drain on the refining and marketing French," late Jean-Louis Schilansky, president of the French Union of Petroleum Industries (Ufip), explaining that rising crude oil mainly benefiting producers and not processors. "Crude prices are high, it's true, but on the refining and distribution, ie those who process, the situation is not good," he said.

The 115 million financed by the sector represents 1.1% of annual earnings released by the only group Total in February. The government also gave good marks to manufacturers on compliance with the regulation of pricing in gas stations. In 4008 retail outlets controlled only 37 minutes have been prepared, a violation rate of only 0.7%, says Bercy.

Christine Lagarde has again ruled out any change, even if only temporary, the regime of TIPP, the domestic tax on petroleum products, primary levy on fuel online payday loans. "This is a tax that is not based on the value but is based on the volumes. So the state today is not a kitty under the TIPP, "said the minister. "The solution TIPP is not a solution."

No checks for fuel

She also rejected the idea, advocated by some consumer groups for a "check fuel" on the principle of the meal ticket. "It was never discussed," she said. Before signing the agreement with oil companies has been criticized Monday by Jean-Claude Mailly, secretary general of the Workers Force union, which regretted the look "complicated" of his application."It means that it is a tax deduction on income, so must still pay tax on income. I recall that nearly 50% of households do not pay because they are below the threshold, "he said on RTL.

"It's still a bit of a side gas plant. The easiest thing is that it appears one way or another on the payroll, "he added.

A barrel of Brent oil trading at nearly 126 dollars on Monday, against less than $ 75 in late August and less than $ 40 in late 2008. This increase was driven among others by social and political tensions in the Middle East and the prospect of increased Japanese demand after the nuclear accident in Fukushima.Prices at the pump in France are relayed back to the highs set in 2008, the liter of diesel than EUR 1.36 and the super unleaded 98 1.54 euros.

Christine Lagarde, who reported only 0.7% of crimes with penalties of 4,000 inspections carried out by the Directorate General for Consumer, Competition and Repression of Fraud (DGCCRF), assured that the service stations in compliance regulations on the pricing of fuel and that "The evolution of margins in the sector has followed so exactly corollary increases or decreases (…) of commodity prices."She added that sanctions were taken against the offenders.

(With agencies)

The CAC 40 still sealed by oil

Friday, March 4th, 2011

Hesitant until then, the CAC 40 has finally opted for the bright red. The Paris index loose 1% to 4020.21 points. For the week, the CAC 40 dropping 1.23%. "We are the bottom of a bullish channel, said Djillali Hacid from XTB. There are good opportunities for entry, but also risks that we break this bar. Financial markets are waiting. " Waiting to know how the situation will evolve from Libya and what implications does it have on oil.

For now, it has deteriorated sharply and the CAC 40 rebounded to worry instant payday loan. So much so that he put aside the rise in job creation in the U.S. they had anticipated. "Financial markets have a habit of focusing on what they want, says one in XTB. As they had already anticipated the good U.S. indicators, they come back on bad news to know Libya and rising oil prices that results.Libya is no longer producing and oil prices are ready to go. "

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The mad surge of copper

Monday, February 7th, 2011

They are 12 apostles of finance. "Ring Dealers category 1. At the heart of the City, behind the classical façade of 56 Leadenhall Street, only these traders shock from renowned banks are allowed to occupy the red benches of the "Ring", the basket of the London Metal Exchange, the London Metal Exchange (LME). A hundred others standing, agitate, notebooks in hand, several phones in his ear, to receive the positions of investors and manufacturers, informing them of the price in real time.

Those of copper, aluminum, zinc, tin, lead or steel, that appear every night at tea time, serve as global references payday loans. Although futures and options also trade in New York and Shanghai, the LME is the world's largest market for non-ferrous base metals.The "Devil's Metal" was pushed against a backdrop of soaring oil prices to a record $ 10,000 a tonne last Thursday. Essential in the building and cabling, star of base metals was driven by emerging economies, especially China. It consumes 40% or 45 billion dollars per year.

The heart of the City fast-paced beats in the copper price, star of the London Metal Exchange. Traders will also officiate at the auction around the basket, called the Ring.

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Wall Street could be disappointed by the U.S. GDP

Saturday, January 29th, 2011

Speed astern for U.S. equity markets. The indices are clearly stalled after the TV overseas, including financial, broadcast live images of demonstrations in Egypt. "This aversion to risk due to escalation in Egypt, and fears that the situation could spread to other countries in the region," said Peter Cardillo, Avalon Partners.

At the close, the Dow Jones lost 1.38% to 11,823.80 points, the S & P 500 1276.36 1.78% to loose points and the Nasdaq dropped 2.47% to 2687.09 points.

As a result, oil prices leapt more than 4% in New York at 89.34 dollars.

USA: disappointing growth, consumer sentiment up

On the macroeconomic front, investors first learned of the first estimate of U.S. GDP in the fourth quarter.The U.S. economy grew by 3.2% in the fourth quarter, much lower than expected, but this increase was sufficient to allow the U.S. GDP of 2.9% gain in 2010 and thus fill its losses the crisis, according to official figures published Friday.

And yet the U.S. consumer morale has improved end of January compared to the beginning of the month, hopes for improvement in terms of growth and employment eclipsing concerns about rising costs of food and gasoline, according to the confidence index released Friday by Reuters / University of Michigan. The index finally settled at 74.2 for the month of January, against an initial estimate 72.7 and 74.5 in December.Economists were expecting a index to 73.2.

On the currency side, the dollar regained ground against the euro by mid-afternoon in Paris, the single currency was trading at 1.3688 dollar.

Ford stock drops

Corporate side, the ball of results announcements of fourth quarter continues, including Chevron Corp. and Ford Motor Co and Honeywell.

Ford: -13.47% to 16.26 dollars

Ford just announced a 2010 profit more than doubled to 6.6 billion. But earnings per share fourth quarter was $ 0.05 against 0.25 a year ago due to a charge of $ 960 million related to the completion of a conversion of debt. The turnover of the 4th quarter reached $ 32.5 billion.The consensus was $ 0.48 for earnings per share and 30.39 billion dollars.

Honeywell International: -1.16% to 55.27 dollars

Honeywell International announced, meanwhile, increased its profits for the fourth quarter of 2010 and raised its forecast for 2011 due to higher demand for products produced by all its units. The industrial group posted a net profit of 369 million over the period, or $ 0 pay day loans.47 per share, against 150 million ($ 0.20 per share) a year ago. Honeywell raised its forecast of 10 cents earnings per share for 2011, now seen in the range 3.60 to $ 3.80.

Chevron: -1.45% to 93.38 dollars

As for Chevron, the group recorded a 81% increase in earnings in 2010 to 19.1 billion.

Amazon.com: -7.22% to 171.14 dollars

The e-commerce giant Amazon.com for its part should be very guarded on Friday, after posting yesterday after market close, the results showing strong sales but margins disappointing. All indicators are green on the year-end sales on the Internet and the action of the group posted an increase of 50% yoy and 4% on the previous day, before the publication of results that the have reduced by 9.4% in electronic trading after closing. The group announced a profit of $ 416 million, or 91 cents per share against 384 million last year. Sales are up 36% to 12.95 billion dollars. That's their strongest growth since 2000.

Microsoft: -3.88% to 27.75 dollars

Microsoft surprised everyone involved on Thursday night, unveiling its results 15 minutes before the close of Wall Street.Results marked by the success of Office 2010 and KINECTS, but disappointing sales of Windows 7. This gives the arrival of mixed results. Profits are down 5% to 6.63 billion, or 77 cents per share against 68 cents expected. Turnover was up 5% at $ 19.95 billion against $ 19.2 billion expected by analysts.

Sara Lee: -2.61% to 17.18 dollars

On the other hand, the American group of FMCG Sara Leevi clarify this Friday's market strategy, after having rejected, according to press reports, two tender offers. Sara Lee has invited investors and journalists to participate in a conference call at 15:00 Paris time.Inform the direction of its "strategic initiatives" and its outlook for the year end.

In addition, LinkedIn, the social network for professionals, announced Thursday his intention to go public in 2011, an operation that should measure the appetite of investors for a possible listing on Facebook. This is the first social network to enter the stock market and on Wall Street. But the market is expected to mainly derive an omen for Facebook, the world leader in the industry, whose value is estimated at 50 billion dollars (36.5 billion euros), and other websites may make their entry offering, or as Zynga Groupon.

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A barrel of oil nudging towards $ 100

Friday, January 14th, 2011

The barrel of black gold touches the symbolic hundred dollars since Tuesday. The gross increase starting in New York yesterday for the fourth consecutive day. In London, Brent crude has risen by 0.4%, to 98.50 dollars (for the contract available in February) after hitting 98.85 dollars the previous day. The $ 100 can be passed from one day to another, experts say, given the jittery markets.

Since the beginning of the year, crude oil has recovered to its highest level for twenty-seven months. Now the first factor: the early winter cold in Europe and North America has boosted global demand and tight pricing. Second factor: the weak dollar.The rise of the euro yesterday, pushed investors towards commodities denominated in dollars, starting with oil, more attractive to buy.

The closure, scheduled for this weekend, the Alaska pipeline that carries 15% of the production of black gold from the United States has also stirred the market last two days.

The optimum OPEC between 70 and 80 dollars

In the longer term, the main engine of the increase in oil prices in 2011 remains the global economic recovery. "The strong demand comes not only from China, says the Figaro Fatih Birol, chief economist of the International Atomic Energy Agency (IEA), but also the United States, Middle East and India" .The IEA, which represents consumer countries, expects an increase in global consumption of about 2 million barrels per day (bpd) this year, more than 2%, after rising more than 3 million bpd in 2010.

On the supply side, exploration in non-OPEC members has been disappointing, says Fatih Birol. The flexibilities are essentially the Member States of OPEC. Among them, Iraq, who is back among the leading players are expected to increase its production of 400 million bpd this year. OPEC has excess production capacity of about 6 million bpd (7 to 8% of global consumption).But the cartel plan to open its gates more than if the barrel permanently crossed the threshold of $ 100, said yesterday the representative of a member quoted by Reuters.

A series of indicators showing good recovery in the United States would reach this symbolic milestone in the coming days, Judge Fatih Birol.

In this scenario, higher oil bill could widen still further the deficits of European countries and fuel inflation, said economist of the IEA.

Aware that a barrel is too high may choke demand, most OPEC countries reiterate that the best course is between 70 and 80 dollars. Even if a Libyan official said recently that the global economy could very well live with $ 100.

A return to the peak of 150 dollars reached in July 2008 is it possible? "Nothing suggests," said Fatih Birol.But markets remain nervous and no one knows what impact could have geopolitical events expected in 2011, such as the withdrawal of U.S. military in Iraq or the presidential election in Nigeria.

France will build ships for Russia Mistral

Saturday, December 25th, 2010

After many twists, Russia chose France for the supply of its warships. A joint Russian and French presidencies, released Friday, says "that after the international tender launched on October 5 for the supply to the Russian Navy in two buildings Projection and Command (BPC) Russian authorities have accepted the offer by the consortium formed by French manufacturers DCNS and STX and Russian shipyards OSK.

The offer in question provides, "initially" the joint construction of two warships Mistral.The bilateral agreement should then be extended "by making two additional units," the statement said.

According to the Elysee, "the construction of PCBs represent Russia for the French industrial DCNS and STX equivalent of 5 million hours or 1,000 people for four years, mostly in Saint-Nazaire.

"An unprecedented cooperation"

After long blown hot and cold on this issue, Russia therefore accepts the French offer quick pay day loan. The situation, however, were tense between the two countries since the Russian government has decided to launch an international tender. Paris, who was in exclusive negotiations, it was offended.

But moving Francois Fillon in Russia earlier this month allowed the negotiations to progress."President Medvedev and President Sarkozy welcomed the implementation of this unprecedented cooperation that will benefit the industry and employment in both countries, and illustrates the willingness and ability of France and Russia to develop partnerships in all major areas, including defense and security, "concludes the Elysee today.

This sale may make some cringe Eastern countries but the U.S. authorities. In a diplomatic telegram released by Wikileaks, the United States have already discussed a sale "inappropriate."

Eric Molina: "The Halde is a safeguard"

Tuesday, December 14th, 2010

Deputy Director of the Sustainable Development of the EDF Group and vice president of the Association of paralyzed France, Eric Molinié, 50, took the chair of a Halde in turmoil. Criticized for its position in Baby Wolf, threatened to be absorbed by the Defender of Rights, the High Authority should, under his leadership, interest in secularism. Without focusing on discrimination based on ethnic origin.

LE FIGARO. – In the Matter Baby Wolf, Halde ruled that there was discrimination. Was it a mistake?

Eric MOLINIÉ. – At the time, Halde had ruled in the state of the law. As staunch defender of secularism, I was among those who wanted to return to this complex case. At the appeal, the Halde should this time make proposals to the legislature. Baby Wolf because the case has revealed a loophole.It raises the question of secularism out of state services.

Should we change the law?

Only the Assembly can decide. But we will review the delegation of public service to see whether to extend the law to all services working with children, whether associations, such as Baby Wolf or day care services . In this case, staff would have a duty of neutrality. The question also arises in private clinics: they make a public service, but the staff has a private law status.

Are you opposed to the absorption of Halde in the Defender of Rights, scheduled for next year?

I am not against the pooling of resources. But I hope that its missions continue, as its specificity is recognized. For Halde is a safeguard. Companies recognize expertise. In addition, it helps to unclog the courts.She has treated 37,000 cases since its inception. She has mediations that meet the complainants and made 1800 decisions have generally been followed by the prosecution. These we now seek for our expertise.

Halde much does it cost too much?

In its final report, the Court of Auditors valid overall management. Communication costs, significant, were necessary and effective now because the majority of French people know they can enter the dump. It must evaluate its actions simple caseload. We make a mission of public service, social cohesion. All victims of discrimination should be aware that the Republic supports them.

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CFDT indemnifies its members strikers

Friday, November 12th, 2010

18 euros per day per employee strike. It is the financial compensation that the CFDT has repaid its members over six months to ease the financial cost of the strike against pension reform. "We asked a lot of effort for our members. They responded, so we hope they are not overly penalized financially, "said on France Info this Friday morning Lawrence Berger, the national secretary in charge of SMEs in the CFDT.

To pay this compensation, the CFDT should tap into its fund national union action since 1974 fueled by a fraction of the contributions made by each member, and now has over 100 million euros. "This fund is intended to provide financial support to employees as part of a dispute with their employer, or as part of a strike, mostly internally," says Lawrence Berger.CFDT can tap into these funds to provide legal assistance to its members, or industrial action in support firms no fax payday loans.

But this is the first time that the fund would be put to good use in the context of inter-national strike, said Anousheh Karvar, national secretary in charge of finance at the CFDT. "Our regulation says that we can use this box when a situation requires exceptional. We believe that what is now mobilizing against the pension reform as it was presented by the government is an exceptional situation because it affects all employees, "she says.

Since the beginning, employees were indeed mobilized no fewer than eight times by the Inter to express their dissatisfaction against the reform adopted by Parliament today.Mobilization cost effective for employees whose salaries are mostly suspended the time of their participation in the movement. This financial cost may have contributed to the slowdown of mobilization found in the last two days of action.

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