Financial, Business, Personal Finance News

BP would have triggered the sale of its assets in Alaska

BP has relaunched the sale of its assets in Alaska after the collapse of talks for a sale to the American Apache in July, the Financial Times reported Monday.

Citing banking sources, the newspaper reported that Apache, which is based in Houston, Texas, is still face potential buyer.Occidental Petrolem Corp., another U.S. group, could also show interest.

The Financial Times says it is not known yet whether the British staff intends to sell its entire 26% stake in the Prudhoe Bay oil field, which includes a right of exploitation of the deposit payday loans.

BP is also in talks to sell assets in Vietnam and Venezuela as part of its plan to sell $ 30 billion to finance the cost of oil spill in the Gulf of Mexico.

On Friday, the oil group said that the cost of the disaster reached eight billion dollars now.

Sodexo and Publicis still considered the best candidates for CAC 40

Sodexo and Publicis are the best candidates for an entry in the CAC 40 if a change in the composition of the index consider Friday traders and analysts surveyed by Reuters.

Similarly, they cite Lagardère and Accor among potential exits.

The date of the quarterly meeting of the scientific evidence of NYSE Euronext is not official, but the rule is that the announcement of possible changes to make at least two weeks prior to their implementation, expected by Friday 17 experts September after-hours trade.

If this were the case, the announcement of these changes would take place and by the opening of markets on Monday.

In NYSE-Euronext, it provides no details relating to the timing of the board index this month.

Anyway, despite rumors of "spring cleaning" in the ACC, experts expect instead that the board does not make big changes, consistent with its having indices relatively stable in their composition .

"The board will be rather conservative.I do not see a huge overhaul with multiple inputs and outputs of the ACC, "said a quantitative analyst, who declined to be identified.

LAST CHANGE: REPLACED BY TECHNIP FRANCE AIR

In a recent note available on the market, Exane BNP Paribas said it expects "no more than a change" in the ACC.

The last change in the composition of the CAC held a year ago with the release of Air France-KLM, which had been replaced by Technip.

In addition to Sodexo and Publicis, the experts also cite Natixis as a title of CAC Next 20, CAC 40's antechamber, the best position to take the step, under the criteria for capitalization and liquidity cash loans.

However, despite its increase of 24% since the beginning of the year, the already substantial weight in the ACC Bank, an extremely volatile, could play against her.

"Sodexo and Publicis Groupe candidates are the most balanced. Liquidity Sodexo is not as good as the Publicis Groupe, but its market capitalization is greater than the group of advertising," wrote analysts at Exane.

"If I had to choose, I choose Sodexo, which is the largest value of the relatively liquid CAC Next 20," said a quantitative analyst based in London."But they could also decide to do nothing at all," he adds.

Side exits, Dexia is also cited as potential exits, but the board index could drop to the negative impact this could have on the bank in trouble, say some stakeholders.

Lagardere, by far the lowest capitalization of the CAC 40, and Accor, whose size has declined since the graduation of its services business Edenred are most clearly eligible, they are likely to emphasize.

Changes in the composition of indices cause movements in the securities on the part of managers that replicate indices.For example Sodexo and Publicis, an entry in the ACC lead, respectively, equivalent to 13.1 purchases and 8.6 days of trading, while for Lagardere, would represent an output equivalent to 14.3 days sales transactions, Exane analysts said.

H & M uses the label Lanvin for his fall collection

Hennes & Mauritz said on Thursday that the fashion label Lanvin would draw her new clothing line, sold in the fall.

The Swedish group, Third World chain clothing stores, known for its trendy and cheap clothing, and regularly appeal to the world of fashion and show business to design collections.

The singer Madonna, or the creators Karl Lagerfeld, Stella McCartney and Roberto Cavalli have been solicited by the group.

These collections have little impact on the total turnover of the group, but analysts believe they provide visibility for the brand and enhance its image.

"Lanvin will provide to H & M tradition of French luxury, both modern and full of fantasy", explains Margareta van den Bosch, Advisor at H & M creation

This collection, designed by the artistic director of Lanvin, Alber Elbaz, and menswear designer Lucas Ossendrijver, will be launched on November 23 in 200 H & M stores worldwide.

Car registrations fell by 12.9% in July in France

Registrations of new cars in France fell 12.9% in July over a year to reach 169,804 units with the continued weakening of the effect "scrappage" announced the Committee of French Automobile (CCFA).

The month of July had 21 working days, against 22 last year.A comparable number of working days, the decline in sales stood at 8.7%.

Of the first seven months of 2010, registrations in France, however, still stand up 2.8% in raw data to 1,382,240 units, and 2.1% in comparable number of working days compared the same period of 2009.

Sales only French brands fell 15.4% in July, while those of foreign brands fell 9.9%.

Car sales of PSA Peugeot Citroen shrank 15.0% last month, and those of Renault were down 7.6%.

Registrations only Dacia (Logan, Sandero and Duster) jumped 47.5% on month, while those of Renault fell 15.9%.

For PSA, sales of the Citroen were down by 17.0% and Peugeot were down by 13.3%.

Wall Street ends sharply down

The NYSE has ended sharply lower Friday, the Dow Jones industrial yielding 30 261.41 points, or 2.52%, to 10,097.90 points.

The S & P 500 is broader, lost 31.62 points, or 2.88% at 1064.86 points.

The Nasdaq Composite fell 70.03 points on his side (3.11%) to 2179.05 points.

The European Commission awarded it a satisfactory plan of Athens

The European Commission said Wednesday that the reform program initiated by Greece out of the recession and the debt crisis was largely on track.

The process of fiscal consolidation is consistent with guidelines established under the rescue plan member countries of the euro, the commission said in a report on his mission to Athens for the month of June

Brussels also awarded full marks to the advancement of fiscal and structural reforms of pensions and the site opened by the government of George Papandreou in exchange for massive financial support from its European partners and the IMF.

The report notes as well that if tax revenues were slightly below expectations, lower expenditure of the State is it more pronounced than expected.

But the Commission considers that the Greek economy suffers from a lack of competition and some macroeconomic data are incomplete.

"Although this overall assessment is positive, with an application of this program largely on track, this preliminary review has identified a number of pressure points and areas where further progress is necessary," reads the report in .

Greece, the debt crisis has shaken the euro area, negotiated a financial assistance of 110 billion euros with the EU and the International Monetary Fund and pledged in return to a policy of economic stringency in particular through a reform of its pension system adopted in late June by the government.

On Monday, Finance Minister George Papaconstantinou said he was confident his country's ability to meet its goal of reducing the budget deficit to 8.1% of GDP this year, against 13.6% in 2009.

To access the full report of the Commission, in English, double-click here

EDF will take at least 10% of South Stream gas pipeline

EDF pledged Saturday to take a stake of at least 10% in the South Stream pipeline by the end of 2010 through a reduced participation of the Italian group Eni.

The public company has also signed an agreement for cooperation in the nuclear field with the Russian Rosatom public group.

These signatures are part of a series of agreements between Paris and Moscow at the World Economic Forum in St. Petersburg that France is the guest of honor.

By providing for the repurchase of at least 10% of South Stream, EDF strengthens its position in the natural gas market.

The pipeline must refuel countries of southern Europe and Central Europe via the Black Sea.

"The feasibility studies of the underwater section has begun, we can say we have never been so close to starting construction," said Gazprom CEO Alexei Miller said in a statement.

Russian Prime Minister Vladimir Putin said in April that EDF would take 20% of South Stream.

Asked if this could be the case, Alexei Miller, said: "Perhaps, perhaps.It will be at least 10%. "

This agreement allows EDF to 'take a major step in its strategy to secure its gas supplies, both to feed its own means of electricity production and marketing of natural gas deals with its customers "said CEO Henri Proglio in a statement.

The World Economic Forum in St. Petersburg was also an opportunity for EDF to enter into partnership with the Russian nuclear company Rosatom on "research and development, nuclear fuel and nuclear cooperation currently existing or under construction.

"The agreement also provides that the two groups cooperate through exchange of experience and training, including in particular visits to industrial sites in both countries," says EDF.

Rosatom is a direct competitor of the French nuclear group Areva.

The French car market still rising

Sales of new cars in France have continued to rise in April, to 1.9% from April 2009, but at a much more slowly, reflecting an impact of declining car scrapping and leaving the uncertainty about the rest of the year.

"This figure is normal. We see a gradual reduction of the effects of scrappage" observes François Roudier, spokesman for the Committee of French car manufacturers.

The spokesman noted "a decline in registrations and orders on new line", small cars that benefited most from the car scrapping. Meanwhile, "we see a rise in average range on some models," he adds.

Carlos da Silva, an analyst at IHS Global Insight, a judge even when the result of April "a little surprising" and speaks of "semi-surprise"."The compact segment is doing rather better than what we expected" while "small cars to fall again mechanically," he notes.

Moreover, "manufacturers have continued to put much money on the table to try to compensate" the premium reduction. They have indeed offered to their customers numerous discounts and promotions. In this context, May will be "a little month of truth," said Carlos da Silva, who expects a decline it expected in April.

"I do not see how that can withstand much more, plus there is not really new models," he said.

French manufacturers are considering a European market decline 9 to 10% this year.1,000 euros last year, the scrapping bonus increased to 700 euro from 1 January, but for vehicles ordered before December 31, the premium remained at its former level for deliveries until the end of March.

This measure was prompted a boom in orders at the end of the year, registrations recorded in the first quarter up 17%. In the first four months of the year, the increase was 12.9% compared to the same period of 2009.

The Minister of Industry Christian Estrosi welcomed in a statement of "the good performance of the market", which "demonstrates the effectiveness of the government strategy of gradual withdrawal of the scrappage scheme".

On 1 July, the scrappage decline further, to 500 euros.

The month of April has been more favorable to French brands, up 8%, as foreign brands, down 4.9%.Of the 190,986 new cars registered last month, the French brands accounted for 56.1% of the market.

The increase was 17.2% for the Renault group and 7.3% for PSA Peugeot Citroen. At Peugeot, we judge that "the effect of scrappage continuous" and "concerns an order for two 206 + and 207," the Director of Commerce France, Olivier Veyrier, said in a statement.

Greece is finally saved it?

Never has a country had not yet obtained a loan of that amount: the countries of the euro area and the IMF have pledged – conditionally – 110 billion euros to Greece three years. A rescue plan for unprecedented growth. Greek crisis is far from over.

The € 110 billion is enough?

Greece needs money, lots of money to finance its huge debt, this year close to 300 billion euros and is expected to peak in 2013 to nearly 150% of GDP. Now the country that is experiencing the worst financial crisis in its history, no longer able to finance on the markets by issuing bonds. Or is prohibitively expensive. Loans from the EU and the IMF at a rate "preferential" 5% are therefore welcome.They will allow Greece to avoid having recourse to financial markets for at least 12 months according to analysts at Goldman Sachs, according to the IMF 18 months or almost three years according to Natixis. For Philippe Sabuco, economist at BNP Paribas, the plan "gives Greece a breath of oxygen, time to clean up its finances without the pressure of markets". "This is likely to reassure the markets," he assures.

The market pressure is she back down?

A little, even if financial markets have allowed the development aid for Greece with skepticism. The situation has improved – in moderation – on the front of Greek government bonds, whose rates remain at very high (around 8.59% for bonds of 10 years and 9% for bonds to two years ). European shares closed broadly higher on Monday, May 3, but the euro remained below $ 1.32.But no matter, since Greece will now and for at least one year to contract.

Greece can it succeed in its fiscal?

In return for financial assistance from the EU and IMF, Athens is committed to reduce by ten points over its budget deficit by 2014, equivalent to 30 billion euros in savings. Cups of public wages and public spending, freeze pensions, increase in VAT, tax and taxes on alcohol, cigarettes and gasoline are on the menu of the Greek government. With regard to economic analysts, the plan of adjustment is "doable." "Provided it is well established," warns Laurence Boone of Barclays Capital. Politically, its adoption by the Greek Parliament is not in doubt, the socialist majority in power supported by the main right-wing party.However, the pill will be more difficult to move public opinion.

Read also: What would happen if France swallowed the potion Greek

The Greeks are they willing to accept the cure of austerity?

Even if the popular support in the person of Prime Minister George Papandreou remains strong, opinion polls show growing opposition to austerity measures. For the Greeks, the plan is largely synonymous with painful efforts: life will become more expensive, their purchasing power will fall and unemployment threatens to explode. The public sector, the main focus of the austerity measures, is the most hostile. The unions are ready to fight against this shock therapy. They call for a new – the third in less than three months – day nationwide strike Wednesday, May 5 The mobilization will be a test of the government's ability to impose its plan.

When Greece Will she get out of the crisis?

The downside of this fiscal restraint is the recession that looks worse-than-expected decline of at least 4% of GDP this year and 2.6% in 2011, -2% in 2009. "Fighting against the economic crisis, as is now the priority for Greece," said Philippe Sabuco. But "this new program of fiscal consolidation will have a depressive effect on domestic demand, which could lead, ultimately, tax revenue by less than expected," said economist of BNP Paribas. To support the return of growth expected in 2012 (+1.1% increase in GDP by Athens), the Greek government plans to make more flexible the labor market. It also intends to fight against tax evasion which, according to economists, could rebuild the Greek budget of several percentage points – the black market economy represents between 20 and 40% of Greek GDP.However, Laurence Boone Regrets, "there is little detail in the Greek plan on structural reforms to raise the country's growth. The Greek'économie suffers from several weaknesses: it is not competitive and dependent on cyclical sectors at a lower value (shipping, tourism and agribusiness).

Those countries that have met the challenge imposed on Greece

In exchange for the bailout unprecedented 110 billion euros, Greece agrees to follow an intensive austerity. This plan aims to reduce the deficit from 13.7% to 3%, and this in two years … An ambitious, some would say impossible … Yet other countries such as Ireland, Sweden and Finland, have succeeded in the past to reduce their deficit.

Those who managed …

The report on public finances published by the IMF in November 2009 lists the fiscal adjustment efforts of two dozen countries over the past 30 years. Ten countries have improved their finances more than 10 points. In 1989, Ireland had such success in lowering the deficit to 20 points, knowing that it still took him 11 years to get there … Another example: in 2000, Sweden and Finland have managed to reduce their deficit of 13.3 points, and that in 7 years.The IMF report notes that more than 20 countries have been able to adjust more than 5 points, their public balance: Japan by 8.1 points, 7.9 points in Italy, Germany by 5.3 points. However, there is no state that in two years. The most "fast" are Israel in 1983 (11.1 points in 3 years) and Cyprus in 1994 (5.2 points in 3 years).

So why Greece did it not happen? After all, she has already, according to IMF data, managed to reduce its deficit from 12.1 points in six years to reach 4.8% in 1995. Admittedly, the statistics of the Greek period are unreliable. Nevertheless, other countries have indeed succeeded in completing their program of readjustment.