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.

Women's magazines Be and Envy are about to merge

Lagardere Group and Marie-Claire will announce on Friday the merger of their respective women's weekly, Be, Envy, launched in spring, following the slowdown in sales, "wrote Le Figaro.

The announcement comes as the magazine Grazia, the Italian group Mondadori, celebrates its first anniversary, the newspaper said.

Lagardere Active said Thursday it would make an "important announcement" on Friday morning, without further details.

"The proposed merger of two weekly was presented yesterday to the works of two groups," said a source quoted by Le Figaro.

To move into the niche market of women but crowded, Lagardere had decided in March to create the brand Be, both magazine, website, television series, application for the iPhone and web radio.

Lagardère Group owns 42% Marie Claire, one of which minority interests Arnaud Lagardère, general partner of the group, reiterated Thursday night trying to get rid.

"Be" was the first launch of magazine audience Lagardère since 2003. The group, which had invested some 20 million euros rough in launching this new brand, targeted a breakeven within three years.

According to Le Figaro, the approximation of the two week early due to faltering sales.Be seen its circulation fall to 171,397 copies sold in late June against nearly 230,000 at the beginning, while qu'Envy barely exceeded 160,000 at the same time cons over 240,000 at its launch in February.

Nestlé completes sale of Alcon to Novartis

Nestle announced Thursday it had finalized the sale of Novartis's 52% that remained in Alcon for $ 28.3 billion (22.3 billion euros).

Nestle has received a total of 41 billion dollars selling American specialist in ophthalmology, if one takes into account the three stages of disinvestment, namely the initial IPO of 23.25% in 2002, sale of 24.8% in 2008 and the last transaction with Novartis, conducted Wednesday, said the world number one agribusiness in a statement.

Nestle, which had acquired Alcon in 1977 for 280 million dollars, now intends to "significantly reduce its net debt, which amounted to 29.6 billion at end June 2010.

Novartis now controls 77% of Alcon and its later clarified in a separate statement that its initial tranche of 25% had already recorded a gain of $ 200 million for the year.

The integration costs of $ 140 million, spread over three years and will save annual synergies of 200 million dollars, said pharmaceutical group.

This year however, will be impacted by charges of 140 million, including transaction costs.

The acquisition will be neutral to earnings per share in 2010 and 2011 but should be accretive as this year for basic EPS ('core').

Novartis is now looking to buy the remaining 23% but the independent directors of Alcon opposed to the proposed price of 2.8 shares per share Novartis Alcon, which is 15% less than the $ 168 per share paid Nestlé.

Swiss law allows Novartis to adopt such an approach but does not guarantee the success of its offer to minority shareholders.

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%.

Plastic Omnium second half sees a "dynamic"

Plastic Omnium said Thursday confident the second half after a first half of the year marked a rebound in net income and revenue thanks to the automobile and the environment.

The group specializes in large plastic parts for the vehicle (body and tanks) or for the collection of waste (containers), posted first half net profit of 72.3 million euros, against eight million a year earlier.The results of the last six months is more than double that achieved all of 2009.

"The activities of Compagnie Plastic Omnium will continue to appear dynamically in the second half of 2010," the group said in a statement.

The title, which earns more than 106% since the beginning of the year, bringing its market capitalization to nearly $ 700 million, has risen by 4.5% to 39.82 euros ten minutes after the opening of trading Paris.

If the turnover of Plastic Omnium has fallen 15% in France, total sales were up by 28.5% to 1.52 billion thanks to a near doubling of sales in North America and Asia.

Emerging markets (Brazil, Russia, India and China) now account for 9% of turnover Automotive Group, a proportion expected to rise "significantly in the next three years," said Plastic Omnium.

This balance, which specifically involves the construction of five new plants should help offset the slowdown in the European car market anticipated the second half of the year with the gradual disappearance of the last car scrapping.

Plastic Omnium has also stated that the acquisition of 50% of the Belgian Solvay Inergy Automotive Systems, a leading global fuel systems and fuel tanks, which the project was announced in June, is expected to close shortly and completed by the end of the year if the competition authorities give green light to the operation.

In the environment, the group's turnover increased by 6.2% in the first half thanks to the development of sorting and of underground containers for the collection.

Iberia signs the merger agreement with British Airways

Iberia announced it has signed a merger agreement with British Airways, a combination that will create the world's third largest airline.

The Spanish company affixes his signature to a text that defined last April, one week after her British counterpart said it had reached an agreement to cover the deficit of 3.7 billion pounds of its pension scheme .

The transaction, which will see shareholders of British Airways to 55% of all new, must still be endorsed by shareholders, which is expected in November.

Iberia has also an exit clause for three months, always linked to its assessment of the ability of BA to the deficit of its pension system, a point already in the past failed to derail the proposed merger .

"Iberia has three months to leave the project from the time the agreement (signed between British Airways and managers of pension funds) is subject to the regulatory authority of British pensions," said Iberia.

Monceau Fleurs accelerates its international expansion

Monceau Fleurs Group wants to expand its international presence and is aimed primarily Germany and Asia to boost its sales, told Reuters CEO Laurent Amar.

To support this development, the florist has launched a bond issue in May to a maximum of 12 million euros, which ends June 25 The unit amounts to 500 euros maturing in June 2015, with a coupon of 8%.

"It was rather a good home," said Laurent Amar in an interview. "The receipt of the loan shows that the financial reputation is being done.And the financial reputation is essential for the liquidity. "

Laurent Amar said it had rejected the option of a capital increase because he believes that the current valuation does not reflect his company or its doubling in size after the company acquired in 2008 Rapid'Flore nor its international success.

"As I have my heritage that is in, I refuse to dilute the value then," he said.

Laurent Amar counting on improved financial visibility to see the group increase its capitalization today of 52 million euros.

The group, which already has over 450 stores in eight countries, confirms its objective of growing its network of sales by 20% during 2009-2010, which ends Sept. 30.He added that the pace of store openings to accelerate the international over the last year.

"We went from 6% to 10% in number of stores opened abroad. It'll go faster," said group finance director, Eric Villedieu. "We aim for 1,000 stores in five years," said Laurent Amar.

The group is particularly Monceau penetrate the German market, which he estimated at seven billion euros a year against three billion to France.There is already present through a joint venture with Lagardere Services which owns 40% stake.

The company, which owns the brands Monceau Fleurs, Rapid'Flore and Happy, already extends for several years its international presence by establishing joint ventures with partners.

They have a franchise for periods of seven to ten years in exchange for a fee and a requirement to provide priority via the Monceau group.

"We went further we got from our partners to be the capital of these companies that hold rights in the country.It is quite rare to get this from its partners, "said the CEO.

ASIA, FLORISSANT CONTRACT

Monceau Fleurs said having well through the crisis because of its policy of low prices, achieved in particular through the integration of its suppliers, in addition to its innovative products like its pink bioluminescent.

The CEO also said to have benefited from the crisis to negotiate leases for new retail outlets on terms much more favorable, thereby facilitating its expansion.

Already present in Japan with nine shops, Monceau Fleurs placed on the dynamic Asian markets and their high consumption of flowers, partly due to the multitude of temples in the country to develop.

"It's part of our priorities is a market that is made for us.It would be a mistake not going there, "said Laurent Amar.

Besides the development of the network through franchises, the group does not make acquisitions as opportunities arise, but he says he remains "extremely cautious".

"In terms of developing countries, through acquisition, we do not refuse any opportunity," said Laurent Amar, whose grandfather created Monceau Fleurs in 1965 in Paris.

The group was incorporated in 1985 by the Compagnie Financiere Edmond de Rothschild.

After a degree in business law, Laurent Amar, confident that the flower industry was promising and mostly impervious to attacks, developed the network in the province from 1998 in 2002 before acquiring the company, which now holds , 38, 69% of the capital.

Monceau Fleurs, whose competitors are the Jardin des Plantes in France or the U.S. 1-800-Flowers internationally, has seen its turnover grow by 72% in 2008-2009 due to external growth, 66, 4 million euros for an operating profit (EBITDA) of 1.2 million euros.

At the Paris Bourse, the title listed on Alternext Monceau Fleurs showed a stable course Tuesday to 9.00 euros. Since the beginning of the year, he sold 17% after surging 101% in 2009.

The BP boss made another blunder

The presence of BP boss Tony Hayward to a luxury yacht regatta on the Isle of Wight in full spill in the Gulf of Mexico has prompted a deluge of criticism, White House head, said Sunday that s 'acting in a "serious mistake".

The stunning images of sailboats cruising off the southern coast of Great Britain during the race "JP Morgan Asset Management Round The Island" turned Loop Sunday morning on U.S. television. The CEO of British oil giant was present Saturday, with family, to support the yacht "Bob", worth 300,000 euros, which he co-owns with two others.The boat finished fourth.

See also: Why BP has it all wrong

But the trip goes wrong side of the Atlantic, two months after the start of the spill, while every day brings new images of oiled birds or contaminated beaches by the millions of gallons of oil spilled into the Gulf of Mexico.

"It's part of a long series of mistakes and blunders of communication," he told the secretary general of the White House Rahm Emanuel in an interview with ABC television broadcast Sunday. "I think we can all conclude that Tony Hayward not start a second career in public relations consultancy," joked the top U.S. official."This is a serious mistake," he said, addressing a new pic to the Director General of the British group: "To quote Tony Hayward, he found his life before.

Author of several communication blunders, including Mr. Hayward said of the disaster: "There is nobody who wants more than me that all this ends, I want my life before."

BP immediately sent his spokesman to the front to try to extinguish the fire. "Wherever he is, he is still in touch with what is happening" on the oil spill, said one of them. It is also his "first day off" since the beginning of the disaster, said another.

In vain, well beyond the White House, critics recycled again and again on all sides. For Greenpeace, the attitude of Mr. Hayward "puts salt in the wounds" of victims of the spill, while the New York Times noted on Sunday that Mr.Hayward had "triggered a new controversy." "The culmination of arrogance", has even dropped the Republican Senator Richard Shelby of Alabama, one of the states affected by the spill. "The yacht should rather be there picking up and clean the oil," he said on Fox News.

These remonstrances conclude a difficult week for the controversial boss of BP, which is expected to retire soon from the daily management of the crisis.Auditioned Thursday to Congress, an officer was entitled to the same ton of comments from elected officials shake their heads at the mistakes in front of the BP oil spill.

The British group would also raise $ 50 billion to fund the cost of oil spill in which the fund of 20 billion dollars that BP has agreed to create this effect, according to British press.

It is also to reassure the markets after the steep decline of BP action.

BP has also ensured he paid $ 104 million in response to complaints from residents of the Gulf of Mexico affected by the spill, indicating having received a total of 64,000 complaints.

The group gets an average total of 25,000 barrels of crude per day, according to U.S. Coast Guard, while the well located at 1,500 m depth spits each day between 35,000 and 60,000 barrels (up to 9.5 million liters) .