The decision to sell 10 billion dollars in assets and more would occur just after BP announced a swelling of her bill to $ 8 billion today, while a month and a half earlier, the note was 4 billion dollars. In addition to the means used to seal the oil wells, oil giant gradually perform compensation for the victims' families, fishermen and residents, while continuing the cleanup.

When BP has reported a loss in its quarterly accounts abysmal end of July, a provision of $ 32.2 billion was included to address these future expenses. The group had relied on $ 20 billion for families and nearly 3 billion for cleaning.

10 billion more for sale

According to British newspaper, the staff is weakened to market the 26% stake it holds in the largest U.S. oil field, located at Prudhoe Bay in Alaska. A transaction that could bring him 20 billion dollars.

Negotiations are also on track to sell international assets, a value between 5 and 10 billion dollars at its Russian joint venture TNK-BP, including a "large number" of offshore deposits of North, according to the Sunday Times.

A month ago, BP has sold nearly two billion dollars in assets to a consortium of British group of Colombian Ecopetrol (51%) and the Canadian company Talisman (49%). And one month earlier still, the group confirmed it would be pulled apart from its marginal activities in Pakistan and Vietnam, but without specifying their value.

Excluding currency and acquisitions, growth in turnover is 5.9%, "in line with its annual target," the company said in a statement.

Sales of optical equipment and lenses, more than 92% of group turnover, rose by 10.7% as reported. North America, Essilor which makes 43.5% of its activity, grew by 8.1% as reported.The rise of Europe, which represents 39.6% of sales, rose slightly less (6.4%). Latin America, however, mark a sharp increase of 47.1% to 88.6 million euros, barely 5% of sales.

Net income for Essilor is down slightly from 1.3% to 197.5 million euros. The group is penalized by the provision of 41.5 million euros to pay the fine imposed by the German competition authority (Bundeskartellamt) for formation of cartels.Adjusted for this provision, net income reached 238.8 million euros, an increase of 19.3%.

Essilor confirms its annual targets

"In the second half of 2010, in a context of renewed activity still fragile, Essilor will pursue the strict implementation of its strategy of growth based on new products, geographical expansion, acquisitions and organic conquer the environment range, "the group said.

This announcement had already acquired majority stakes in two U.S. since the end of the first semester in the laboratory and in the Gulf States Pasch. Essilor has also sold its stake in early August Sperian Protection which represented 15% of capital.This sale will record a gain of 27 million euros in its accounts in the second half.

The manufacturer of ophthalmic lenses confirms target for 2010 sales up 5% to 7%, excluding currency and strategic acquisitions, and margin contribution stable excluding acquisitions and strategic change IFRS. In the first half of 2010, the margin of Essilor has eroded slightly over the same period in 2009, yielding 0.1 percentage points to 18%.

At the Paris Bourse, the title Essilor yields 2.74% to 46.88 euros at 10:00. It displays the largest drop and the CAC 40, itself in decline 0.62%.

Written in a mission entrusted to the former President of EDF, this report was sent to Nicolas Sarkozy last May, before being classified "top secret" in the name of protecting a number sensitive data.

Eagerly anticipated by the industry, it delivers several lessons particularly interesting. Like this recommendation to create a Department of Energy. Meanwhile, the role of EDF as team leader of France's nuclear part of an international development – is clearly stated no fax cash advance.

However, this leadership role of the electrician is first and foremost, reserved for countries new entrants into the nuclear. The report also states that Roussely relationship between EDF and Areva must be much more successful. In other words, the strategic partnership between the two companies are held without being recorded numerous clashes. Finally, it is not any conclusion of this report, the GDF-Suez will become a nuclear operator of reference in France is totally ignored. In short, EDF retains all hands on this sector.

These assets accounted for in the first half total daily production of 28,000 barrels per day of liquid hydrocarbon and more than 9 million cubic meters of gas.

Moreover, a spokesman announced Tuesday that the oil company would lay off some activities within Pakistan and Vietnam.These activities mainly concern the production of natural gas. If the amount is secret, BP said that the fields had produced Pakistan last year only 4.89 million cubic meters of gas in the country, a mere 2% of its total gas production. Activities include two Vietnamese gas fields, pipelines and an electricity generation plant.

These operations are part of the creation of a fund of 20 billion dollars to reimburse the victims of the spill. BP's objective is to sell 10 billion dollars in assets.The British group said Monday that it had already disbursed $ 3.95 billion so far in miscellaneous expenses, including compensation already paid free credit report.

David Cameron "understands the anger"

The "case" BP is in any case more than ever become a political issue, potential source of diplomatic tensions between the United States and Great Britain.Following a head to head with President Barack Obama on Tuesday, British Prime Minister, David Cameron, tried to calm things down, saying that included "completely anger that exists across the U.S. "against BP and it was necessary for him" BP mouth leak, clean the area and pays just compensation. "

"BP is a major undertaking for both the British economy and for the U.S. economy thousands of jobs depend on BP on both sides of the Atlantic. So in the interest of both countries that the group remains strong and stable future, "said David Cameron.

In a study received Tuesday, ratings agency Moody's estimates that if the spill had to stop short term, it would get at least 1.2 billion dollars in lost business and loss of 17,000 jobs in the region Gulf by the end of the year."Under a more pessimistic scenario in which the oil spill would continue until December, and the moratorium decided by Obama on drilling in deep waters until the end of the year, 7.4 billion dollars of activity would be lost and more than 100,000 jobs, "concludes the study.

ALSO READ:

"Oil slick: the well may remain blocked

"BP ads to reassure markets

On the foreign exchange market, the euro is strengthening its progress against the dollar. Fears about the economic recovery in the U.S., more and more vivid, weigh on the dollar.At mid-session, the euro was worth 1.2971 dollars against 1.2941 dollars the previous day.

On the macroeconomic front, consumer prices in the U.S. declined for the third consecutive month in June because of falling energy prices, official figures released Friday showing that inflation remains contained in a context of stagnating domestic demand. The index of consumer prices adjusted for seasonal variations show a decrease of 0.1%. Economists and analysts polled by Reuters had expected a price stability after a decline of 0.2% in May

The morale of U.S. households has deteriorated in July fell to its lowest level in 11 months because of fears about the economy, according to preliminary results from the monthly survey Thomson Reuters-University of Michigan.The index of consumer sentiment stood at 66.5 against 76 in June and 74.5 expected by economists to Reuters. The index measuring consumers' judgments on the current economic situation has emerged to 75.5, its lowest level since November 2009, against 84 expected and 85.6 last month.

The banking and automobiles in the spotlight

After the adoption Thursday of the reform on Wall Street and encouraging results from JP Morgan, the bank is well oriented on Friday: Societe Generale rose 0.49% to 38.02 euros and Credit Agricole was up 0.58 % to 9.34 dollars and BNP Paribas gained 0.62% to 49 euros.

The car values also outperform the CAC 40.They benefit from the announcement of Renault, with its Japanese partner Nissan will invest 300 million euros in the construction of a plant of Russian automaker Avtovaz order to produce together a small car from 2012, reported the Nikkei business daily. The Renault share gains 1.80% to 35.06 euros, bringing in its train rival Peugeot, which climbs as 2.26% to 24.24 euros payday loan lenders.

On a visit to Tokyo, Prime Minister Francois Fillon said France was "open" to the entry of Japanese conglomerate Mitsubishi Heavy Industries in the capital of the nuclear group Areva (-1.67% to 335.15 euros) .

Carrefour (-0.16% to 35.28 euros) published a quarterly revenue slightly exceeded expectations thanks to its positions in emerging countries and announced the signing of a new partnership in China.Over the period April to June, the group saw its turnover totaling 24.92 billion euros, up 6.3% over one year.

Seb (-0.10% to 58.5 euros) has announced an increase in sales in the first half due mainly to a favorable currency impact and good dynamic emerging countries. Its turnover grew by 13.1% at current exchange rates and 9.4% at constant exchange rates.

Lafarge (+0.33% at 41.31 euros) concluded Friday the sale of 11.2% of its business in Malaysia for a net total of 141 million euros in the divestment program initiated by the World number one cement.Following this, the group will remain the principal shareholder of LMCB with a 51% and will retain management of the business.

Axa to discuss its Asian subsidiary

Axa Asia Pacific (AAP) and its parent, Axa (1.35% to 13.55 euros), and National Australia Bank (NAB) to discuss extending the period of exclusive negotiations between the two parties. NAB hopes to acquire 100% of PAA and has proposed that $ 11.5 billion (9.13 billion euros).The Australian Competition Authority has so far opposed the transaction.

Pierre & Vacances (-3.45% to 53.7 euros) has warned that tourist bookings for the fourth quarter was marked by delay on the month of July, in the context of crisis, after essentially flat sales in the third quarter .

Stallergenes (3.83% to 57.10 euros) Thursday revised its annual targets upwards, after posting a 14% increase in turnover in the second quarter, owing mainly to increasing sales of its blockbuster drug the Oralair. Specializing in the treatment of allergies, has achieved a turnover of 47.3 million euros in the quarter and $ 110.6 million over the period (13%).

One publication of turnover is expected this Friday: Etam Development.

In Japan, the Nikkei gained 0.20% to 9,604 points in mid-session after starting on a decline of 0.50%. The Topix is 0.23% at 863 points. The benchmark index of the Tokyo Stock Exchange has taken the time to digest the defeat on Sunday, the Democratic Party of Japan (DPJ), in power, the Senate elections. The failure of the movement of the Prime Minister Naoto Kan weakens the leader of the center-left and opens a new phase of political uncertainty for the archipelago. Investors fear at this stage a deadlock in parliament could hinder the policy of reducing public debt, estimated at 200% of gross GDP.After their defeat, the DPJ and its ally, a small nationalist party, retain only 110 seats, the majority being fixed at 122 seats. The coalition remains however a majority in the Chamber of Deputies but must negotiate alliances with opposition parties on an ad hoc basis to enforce its laws.

Yen flexes

Despite caution, this defeat has not overwhelmed the markets. "The results of this election are obviously not positive, but at this stage they are probably neutral rating, investors had already considered the possibility that the ruling party does not obtain a majority, explained before the opening Yutaka Miura, analyst at Mizuho Securities.

The news has at least led to a weakening of the yen has benefited from the index. "The Prime Minister Kan will have difficulty in passing laws.It is therefore logical that few foreign investors buy yen, "said Hideaki Inoue, head of foreign exchange market to the bank Mitsubishi UFJ.

In terms of macroeconomic indicators, the Bank of Japan reported on Monday a slight increase,% yoy in June wholesale prices on the domestic market. It is the second consecutive increase in this index, which had previously declined for nearly a year and a half without interruption.

The region in the green

In the wake of Tokyo, the other places in the region rise slowly. In China, Shanghai and Hong Kong respectively gaining 0.81% to 2490 points, and 0.67% at 20,516 points. The National Bureau of Statistics (NBS) announced this morning that housing prices had continued to increase but at a moderate pace in June, further evidence of the impact of government measures to prevent runaway industry.Prices listed in 70 cities rose 11.4% last month, against 12.4% in May

In Korea, the Kosdaq is 0.52%, while the S & P climbed 0.31% Australian and Indian Sensex appears up 0.89%.

Oil gains ground

Crude prices were moving upward Monday in electronic trading in Asia brought by a rebound in financial markets.

In morning trading, a barrel of light sweet crude for August delivery took six cents to 76.15 dollars a barrel, while Brent North Sea with identical maturity, gained 3 cents to 75.45 dollars .

According to the report submitted to the National Assembly, which specifies allocations for different missions, "except the Department of Justice and the Ministry of Higher Education and Research, all departments will be downsized on the years 2011-2013.

Research and Education, Justice up

The Mission Research and Higher Education remains the first priority of government, is it indicated. His credits will increase from 23.63 billion euros in 2010 to 23,830,000,000 in 2011, 24.04 billion in 2012 and 24.23 billion in 2013.In addition, the department "will be, exceptionally, no job cuts.

The Department of Justice will be the only "benefit from new jobs net (400 in 2011), mainly for the prison administration," the document said. The credits of the mission will spend 5.65 billion euros in 2010 to 5.80 in 2011, 5.96 in 2012 and 5.90 in 2013.

Labour and Employment, Agriculture, Ecology down

Side decreases, the mission and Career credits will rise slightly next year, from 11.25 to 11370000000 before "fall sharply" with "better jobs" expected, 9, 10 billion in 2013.

The Ministry of Agriculture will also see its funding decline from 4.46 billion euros in 2010 to 4,210,000,000 in 2013.In 2011, 650 jobs will be eliminated on this ministry.

The credits of the mission Ecology will also decline sharply in 2011, from 9.24 billion in 2010 to 8,820,000,000 in 2011.

The money for the ODA will, themselves, stabilized in value over the period.

As announced 16,500 job cuts are planned in 2011 in Education, under the rule of non-replacement of retiring staff of two.The credits of School will initially increase slightly, from 44.14 billion in 2010 to 44,450,000,000 in 2011, then fall to 44.05 billion in 2013 payday loan lenders.

In the three years, a rule enacted by President Nicolas Sarkozy will "not replace nearly 100,000 retirement, or 31,400 full time equivalent (FTE) and 2011, 32,800 FTEs in 2012 and 33,000 FTEs in 2013.

The downsizing effort is "higher than average" to ministries of Budget, Foreign Affairs, Agriculture, Defense, Ecology, Health and Sports.

"Operators of the state will also be involved in this process (…) with the exception of operators attached to the Ministry of Higher Education and Research," the document said.

The government amounted to "nearly 3 billion euros' savings" related to non-replacement of retiring in two "over three years. But 50% of these savings will be a "return to civil servants".

The burden of debt on the increase

The interest burden of government debt is expected to grow strongly in coming years, as spending on employee retirement, still shows the budget document.

The interest burden of debt, that is to say, the annual payment of maturities of the loans, should "increase in value by over 9% per year on average, five times more than inflation," says document.

It should increase from EUR 42.45 billion in 2010 to 55,190,000,000 in 2013.This increase is explained by "the rising stock of debt since 2009, due to the crisis which has seen deficits explode, and" the expected increase in interest rates. "

The pension expenditure officials should, too, to increase from 35.06 billion in 2010 to 39,580,000,000 in 2013, "despite the beneficial impact of pension reform," the statement said. "The retirement of civil servants are currently a" very high on the period, the government said, citing also "revaluations of pensions to inflation."

The government pledged to freeze "value" the expenditure, excluding debt and pensions between 2011 and 2013.

In all, the French government had ordered 160 million doses of vaccines, including 94 million to Sanofi Pasteur, the vaccines arm of Sanofi-Aventis European leader, at 50 million British Glaxo-Smith-Kline (GSK) and 16 million Swiss Novartis.

While the epidemic of influenza was less concern, the Health Minister, Roselyne Bachelot, has gone back on his feet and set aside 2 million doses from Sanofi-Aventis. Novartis has seen its order reduced by 7 million units, while GSK shipped 32 million in vaccines and less.

"I brought a check to pay my dues Medef late, said Sophie Menthon on BFM. They told me that before I can file my application, a preliminary investigation was necessary, and that the MEDEF could not decide on my application before JuneI will not lead employers in a legal battle. "

She believes however that the Board of Medef could meet quickly to endorse its regulation, and allow it to occur. It therefore deplored the reluctance of the employers' organization to focus on his record, leaving the way open for Laurence Parisot.

"It's a huge strategic mistake, says Sophie Menthon. Fear has won. There was no reason not to campaign. There's more dirty linen to wash the MEDEF. "She promises to give its program and its positions by means other than a campaign.

Thibault Lanxade "will not go"

Lanxade Thibault, head of the SME Aqoba, who had called for a "primary challengers last fall, has also withdrawn from the race for President of the MEDEF.

"I will not," he said on BFM Monday.Its share was "convinced" by Laurence Parisot as the debate that he dearly wanted to be actually carried out in case of re-election of outgoing President, and he should remain internal to the MEDEF. A rally that he claims to have made "without any pressure," believing that "the unit of employers is more than ever necessary" because of the crisis.

ALSO READ

"VIDEO – Sophie Menthon to Talk Orange-Le Figaro, April 15

"Menthon" presidential candidate of the MEDEF "

"BLOG – The underside of the Social