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Oil: A Black August

The oil prices have again been eventful one week. Tuesday, oil closed the month of August under 72 dollars, penalized by macroeconomic concerns. Throughout the month, a barrel of crude oil shows a decline of 7.03 dollars, or 8.9%, the largest decline in percentage terms since May As stock markets, oil markets have then wished to turn the page. For the first day of September, the courses have undergone upward pressure, almost touching the 74 dollars in New York amid more reassuring indicators (increase in U.S. manufacturing ISM index). "The optimism of the early months," said Phil Flynn of PFG Best Research.

The rest of the week merely reinforced the progress.The promise of sale housing and industrial orders rebounded unexpectedly in the United States while new jobless claims fell slightly. In short, the oil market "sees the economy growing, but at a very slow pace," according to Andy Lipow of Lipow Oil Associates.

Oil prices ended the week down slightly, to 74.60 dollars in New York and 76.01 dollars in London. Investors welcomed the figures monthly employment for the month of August, considered less bad than expected. Analysts, however, remain on their guard: "I think the employment situation remains mixed in the United States, said John Kilduff, of capital Again. The figures are not good enough that prices are good, particularly given the levels of stocks in the country, currently the highest since at least 20 years for crude.

The base metals in great shape

On the London Metal Exchange (LME), the week was synonymous with strong gains. Classes were worn by the announcement of a rebound in manufacturing activity in China in August, to scan a sufficient investor fears of seeing the world's largest consumer of motor crash. To this was added the new surprise improvement in industrial activity while U.S. markets had already built a slowdown almost low interest rate personal loans.

Copper rose to 7,750 dollars per tonne, its highest in four months, leading to higher nickel which ended the week at 20,900 dollars. The aluminum finish to 2161 dollars and zinc to 2161 dollars.

Gold is approaching the record

Always above. Gold has increased its earnings, still driven by its status as a safe haven.The yellow metal has touched 1,254.73 dollars per ounce, very close to its record 1,265.30 dollars reached last June. Analysts now believe that gold will reach 1350 dollars per ounce by 2012, pushed up by demand from China and India.

The money has followed suit, reaching its highest since May to 19.68 dollars per ounce to finish at 19.66 dollars per ounce at Friday's auction.

Platinum and palladium climbed while the announcement of a new movement to strike in the mines of South Africa, world's largest producer of platinum, recovery concerns about market supply. The ounce of platinum ended at 1553 dollars an ounce Friday, while palladium ended at $ 524 against $ 503 a week earlier.

Cocoa plays yoyo

The brown bean has been very eventful one week.Classes are first touched its lowest level since July 2009 in New York, in 2681 dollars per ton, showered by the prospects of a bumper harvest in Cote d'Ivoire, the world largest producer and pulled down by speculative buying. However, the market turned around so that experts wonder more and more about the quality of the product Ivorian affected by moisture. The tonne of cocoa for December delivery ended at 1953 pounds in London and 2748 dollars per ton in New York.

Coffee has gone the same way, a pound of Arabica for December delivery ended at 185.65 cents on Friday in New York, against 177.95 cents a tonne for the same maturity a week earlier.

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The record Domenech is nearing completion. According to France Info radio quoted a source close to the matter, the French Football Federation (FFF) has sent a letter of dismissal to his former coach, Raymond Domenech, who is still an employee of the National Technical Directorate (DTN). Information that Fernand Duchaussoy, acting president of the FFF, neither confirms nor denies. "While he has not received his letter, he does not know, I'm not going to make a statement like that … The process is supervised," he said Saturday.

Domenech could also blame a serious mistake to FFF

The nature of the dismissal is not known: misconduct or not. According to France Info, the first solution was chosen.Three facts are alleged to Raymond Domenech: not having shaken hands with the opposing coach, Carlos Alberto Pareira after the match against South Africa, having read the famous mutineers release of players and not telling Escalettes (former President of the FFF) qu'Anelka had told him in mid-time of a technical analysis of a certain depth. In the eyes of the FFF, all this would be a "serious mistake", leading to immediate dismissal and up to the door without compensation.

A decision that could challenge in conducting the case before the tribunal. And for two reasons: firstly, Raymond Domenech no longer occupies the position he held when the facts alleged against him, on the other hand, it can be argued that Laurent Blanc, the new coach of the Blues assumed his duties before July 31, or the formal end of his contract of coach of Team France.In other words, neither party would have an interest in this case to go to the tribunals of one hand not to tarnish further their respective images and the other not to turn this case series.

"We'll go faster"

Where an amicable agreement between the two parties would be found, the former coach of the Blues paid about 12,000 euros a month on fourteen dates as all employees of the FFF, could affect up to 340,000 euros, according to the Parisien. Le Journal du Dimanche progressed, the last weekend, the sum of 500,000 euros, and France Soir, "between 1.5 and 2 million euros," it is ten days.

If one believes the words of Acting President of the FFF, it would move more towards an amicable settlement. "We will go fast, Raymond Domenech wants too. There will probably be a negotiation.It is not a business like any other, but we, like others, a business, "he says.

It is with relief that the financial markets have greeted the unemployment figures across the Atlantic for the month of August. After long hesitation in the morning, in the wake of fences New York markets and European markets have been raking in points after 14.30. In the middle of meeting, the CAC 40 has risen by 0.76% to 3659 points. At 15 hours, the ACC is closer to 3700 points (1.89%). At the London Stock Exchange, the FTSE-100 advance from 0.52% to 5399.14 points, and the German DAX 30, the Frankfurt Stock Exchange, rose 0.44% to 6110.88 points.

Before the announcement of the major statistical, investors remained cautious to say the least. "It does not happen much on the markets, who are eagerly awaiting the unemployment figures of the United States, says it in the rooms. Is a very important day. Nobody wants to get new paris before this indicator.Investors prefer to wait and see what is the recovery. " He added: "If the numbers are bad, I think the markets will fall heavily and not only Friday, but next week."

Services: slowdown in France, rising in Germany

Despite a slight decline as unexpected new listings weekly unemployment across the Atlantic on Thursday, the Labor Department is expected to announce this afternoon an increase in unemployment to 9.6%."The GDP is not growing fast enough to create hundreds of thousands of new jobs needed each month to reduce employment at its level before the crisis," said Christina Romer Thursday, who will leave at the end of the week his position as economic advisor of President Barack Obama.

Also across the Atlantic in 16 hours, the ISM index of activity in services for the month of August and a speech from Fed chairman in Atlanta, Dennis Lockhart on current economic conditions are also scheduled .

For the euro area, growth in services in France recorded a slight decline. Whereas 59.9, the PMI stood at 60.4 against 61.1 in July. In contrast, in Germany, he cons 57.2 56.5 in July. Although below expectations (58.5), it evolves to its highest level since August 2007.

Retail sales in the sixteen countries that have adopted the single currency rose 0.1% from June and 1.1% over one year. Economists polled by Reuters had forecast an average increase of 0.2% a month to month and 0.6% a year.

The meeting was much calmer on the microeconomic front, in the absence of publications, the wave of results for this quarter coming to an end the Paris Bourse.

GDF Suez Stock doped by a partnership

The Director General of the operator, France Telecom, Stéphane Richard, told Reuters on Thursday on the sidelines of the MEDEF Summer University he was confident in the outcome of discussions with Canal + on the fusion of strings Orange Cinema Series TV and TPS Star. It will also try to convince the government not to raise VAT on offers "triple play".France Telecom gained 0.25% on the stock market to 16.18 euros.

GDF Suez (2.09% to 26.75 euros) has signed a partnership with the Brazilian Eletrobras to develop transportation projects and energy production in Central and South America, and Africa.The two groups do not preclude joint ventures.

Air France-KLM (+0.27% to 10.96 euros) plans to create a structure "low cost" for medium-haul routes, especially from Orly to the province to counter the offensive of the British company at bottom EasyJet costs.

The Slovak government has decided to retire to a consortium led by Bouygues (-0.28% to 32.32 euros) a road construction project of $ 3.3 billion through a public-private partnership announced Thursday Slovak Minister of Transport, Jan Figel.

Venezuela will pay approximately $ 600 million (468 million euros) Casino (+0.20% at 66.20 euros) and other shareholders of the supermarket chain Exito nationalized in January said Thursday President Hugo Chavez.

Vinci (+1.05% at 37.14 euros) Thursday announced the acquisition by its subsidiary of Vinci Park UK Meteor Parking which achieves annual turnover of approximately 50 million pounds (60 million euros ), allowing it to become number four in the sector in the United Kingdom.

LVMH (0.81% to 97.25 euros) a court decision is expected this Friday on an appeal by eBay, convicted in 2008 for dissemination and distribution of counterfeit perfume off approved.

Pernod-Ricard still in the red

On the side of the steepest declines, we find Sanofi-Aventis, still in talks to buy the company Genzyme bio technologies. The value is 0.54% to 46.63 euros, after losing 0.53% on Thursday. Pernod-Ricard continues in the red after the publication Thursday of disappointing results.After having yielded 2.37% on Thursday, back down 1.68% to 60.22 euros on Friday.

Ipsen (+0.26% at 27.27 euros) has signed an agreement with the Swiss pharmaceutical company Santhera Pharmaceuticals. The laboratory has received a license to market the fipamezole, a drug that helps relieve the symptoms of this disease in the world, except Japan and North America.

The first 100 French advertisers have invested 5.4 billion gross in the first half of 2010. This amount represents 42.3% of cross-media advertising investment, according to the barometer "Top 100 Advertisers' of Kantar Media Institute.

Automaker Renault leads the standings with 224.1 million euros invested in the rough period before Peugeot, whose communications budget reached 175.5 million euros. With Citroen (149.4 million euros) in fourth place, behind SFR (150.8 million), the automotive sector accounts for one quarter and investment in this top 100.

Of all the advertisers, the consumer sector, which forms the bulk of the advertising market with a 21% investment.The Unilever and Procter & Gamble are ranked at the sixth and eighth in the standings, with 145.2 million and 118.1 million euros invested since the beginning of the year.

Television is the medium of choice for these trucks communication, absorbing 43% of their advertising investment, before the press (19.2%), radio (15.4%) and Internet (12.5%).

The pharmaceutical group Sanofi-Aventis, seeking a major acquisition, would have approached the U.S. biotech Genzyme understands the Wall Street Journal on its website. In early July, the French had been the subject of market rumors about a proposed acquisition of U.S. $ 20 billion.

"Discussions are still in their infancy and there is no agreement expected in the immediate future. Issues such as price and management have not yet been addressed. " Both groups refuse to aAny comment.

According to the U.S. daily, officials from Genzyme, which specializes in products for the treatment of orphan diseases, are studying the amount that Sanofi would pay.In Stock, Genzyme capitalization stood at 14 billion dollars (10.8 billion euros) but the group can require a significant premium given its portfolio of drugs. "If we take as a starting point the figure of 20 billion dollars that has been discussed before, this puts Genzyme to $ 75 (per share)," said Michael Yee, an analyst at RBC Capital Markets.

Blow to Lovenox that will have to battle against a generic

In exchange, the action Genzyme has skyrocketed 15% to 62.52 dollars a barrel on Wall Street. And during transactions unofficial title continued to grow.

Faced with competition from generic drugs, many pharmaceutical companies are looking for external growth.And the more that Sanofi-Aventis has paid this Friday a blow, with the approval by U.S. health officials the first of its generic anti-coagulant Lovenox star, his second top-selling drug in the world. "The FDA today approved the Administrationa first generic version of Lovenox, the FDA announced in a statement posted on its website.

This product is developed by the Swiss Sandoz, the generic arm of Novartis, Momenta and American society.Sales of Lovenox, a drug derived from heparin and more complex to copy a traditional chemical molecule had reached 3 billion euros worldwide in 2009, including $ 1.8 billion in the United States.

In the first quarter 2010, sales of the drug was 769 million euros, which was still the second largest group of drug sold in the world.

The sales of Sanofi made in the USA by its anticancer Eloxin fell sharply after the launch of generic versions, while its other cancer drugs, Taxotere, will drop its patent to the public in November in Europe and United States.

In late June, Sanofi announced the acquisition of American TargeGen for 560 million dollars (458.5 million euros) in order to strengthen the fight against cancer.

The Cabinet will host today at the Elysee a guest: Wolfgang Schäuble, Minister of Finance and strongman of the government of Angela Merkel. Last survivor of the dinosaur era Kohl, Schäuble, 67, is both the most Francophile and most pro-European ministers in Germany. This man of iron is outspoken apostle of rigor in Germany but also in Europe.President Sarkozy and his government, which had inspired his brake mechanism to debt, lend him an ear.

This is the first time a German minister participates in a French Cabinet, a symbolic meeting to be held under the theme of "European economic governance," a topic that has divided President Nicolas Sarkozy and German Chancellor Angela Merkel.

To revive the Franco-German, Paris and Berlin had decided in early February to open the meetings of government ministers of both countries. In late March, Christine Lagarde, with whom he maintains a good relationship, had attended a cabinet meeting Merkel in Berlin. Schäuble was forced to postpone his visit to the French Council of Ministers, in May, for health reasons.

It tames the suffering

This practicing Protestant was never one to panic.Some in Europe have criticized him his reluctance to rush to the aid of Greece. Schäuble dream aloud of a federal Europe. He put one on the table the creation of a European Monetary Fund. A mechanism has been adopted approached in early May by the euro area but in his absence: he had been rushed to hospital in Brussels. A poorly healed wound was nailed to a hospital bed, where he led his ministry for several weeks cash advance loan. What has not failed to feed the rumors about his departure from government.

But it has long been tamed Schäuble suffering. Minister of Interior of Kohl, his life is turned upside down in 1990, when he fell under the bullets of a balance. An avid tennis, the ambitious politician finds himself in a wheelchair, paralyzed from the chest down.His wife suggested that he give up politics. It is at the head of his department after several weeks of convalescence. And now asserts that his passion for politics has helped to overcome the ordeal, which he calls "this shit". Gray eminence of Helmut Kohl, which was also the dolphin, it was he who negotiated the contract of German reunification with East Germany.

His ambitions were often thwarted. For example, Kohl's, for which he retains a deep respect, clung to power for 16 years, only disappearing never to its advantage. In the late 1990s, Schäuble flows in the case of the CDU slush funds: he accepted 100,000 DM jars of wine a sour arms dealer to finance the party. The case forced him to resign from the head of the Conservative Party and bar him permanently road to the Chancery. Then between Merkel track.Fearing that it will make him the shadow Chancellor he preferred another candidate for the Presidency of the Republic. Merkel, who sought a strong man to hold his government partners Liberals imposed the Ministry of Finance. He has gained the nickname "Sparminator.

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To remove the controversy on the concerns of receipt of the iPhone 4, Apple and its CEO have found a solution: to affirm that all smartphones have suffered a loss of reception bars when they are kept on hand to somehow. For Apple, the controversy surrounding his new phone, called the U.S. of "Antennagate" is in fact more of fashion design mobile phones that the iPhone 4 itself. "We're not perfect, the phones are not perfect," Steve Jobs defended himself Friday night.

To support his theory, since Apple has put together a special page on its website in which we see in videos BlackBerry Bold 9700 HTC Droid Eris, the Samsung Omnia and iPhone 3G II lose reception bars when they are kept on hand. The external antenna on the iPhone 4, which is more easily disturbed by contact with skin, aggravate anything.But the methodology of these tests has not been disclosed.

These denials have triggered this weekend the wrath of Apple's competitors, even though no one has accused him of cheating. "RIM's attempt to lead in a crisis that Apple is responsible is unacceptable," responded vehemently CEOs of the Canadian group. The maker of BlackBerry explains willfully "avoided designs such as the one used by Apple for its iPhone 4 and [their] favor innovative designs that reduce the risk of dropped calls" in areas poorly covered.

The other reactions are in proportion. Bullied to a video of Apple, Samsung said that the antenna's Omnia II is located in the center of the device, which reduces the risk of disruption and allows him to deny any reception problems.HTC, meanwhile, opposes a series of numbers to assert that the complaints related to the reception quality is much lower than those recorded on the iPhone 4. Arranged by Apple, Nokia boasts of his expertise since "decades". "If there is conflict, we give priority to the performance of the antenna on the physical design," says the Finnish group.

Apple is visiting his secret chambers

This burst of feedback sounds like a revenge of historical manufacturers of mobile phones. Faced with a newcomer today although cumbersome, they underline the block and amateurish errors. According to Bloomberg, the head of antennas at Apple, Ruben Cabarello, had warned his superiors of the risks posed by the design of the iPhone 4 on the quality of reception. But Apple would have remained riveted on this design.Since the article has been publicly described as "shit box" by Steve Jobs, who had assured discovered until recently.

Engaged in a war of communications, Steve Jobs was still "deeply sorry" for its customers who encountered problems, but mainly wanted to give assurances of the seriousness of his team, explaining that the iPhone has had four "the most advanced antenna ever seen. Usually so secretive, the company partially opened to the press its laboratories. In all, the group claimed to have spent over 100 million dollars to develop its campus in California seventeen rooms experimental mobile reception, staffed by top scientists.

This controversy, which affects the image of the brand, does not yet spread on sales.Apple has been three million iPhone 4 in three weeks and financial analysts have revised downward their forecasts nor nor their notes on the action. While minimizing the problems, Apple has still decided to offer up to the end of September to all customers, protective shells, which suppress the plastic skin contact. This measure was estimated at fifty million dollars. "[Our] customers do not need to put their BlackBerry in a holster to maintain good connectivity," joked RIM.

Farmer in Nizhny Novgorod, east of Moscow, is desperate Kassoumov Acker. This summer, because of the drought, "the grain of wheat could not germinate," laments the operator in front of cameras showing the chain Volga an ear of corn all withered. Result, the performance of his farm is expected to reach ten quintals per hectare instead of 28 quintals provided. As to the 210 acres of grass hay sown a few months ago, "they have been wasted," says Acker Kassoumov.

After a very cold winter and snow, this year Russia is experiencing one of the worst droughts in its history, as in 1972 when the USSR was forced to import wheat. In the Volga basin, but also in Siberia, the mercury rises, reaching 35 degrees for several weeks in Krasnodar (southern).In Ulyanovsk, 900 miles southeast of Moscow, only 200,000 tons of wheat should be harvested, against more than one million tonnes last year.

Nineteen areas in particular suffer from this episode extreme climate, mainly located in the southern basin of the Volga River where the water, whether drinking purposes or watering, is sorely lacking. "There is not a question of financial loss, but survival of peasants!" Has alarmed Skourikhine Pavel, President of the National Union of Producers of wheat, at a press conference Moscow. Many farms are facing bankruptcy payday advance. Given the urgency of the situation, the authorities of countries have expressed readiness to help these nineteen regions. Budgetary allocations will be granted at rates well below inflation (2% per year over five years).A total budget of 40 billion rubles is raised (about one billion euros), a figure corresponding to the amount of losses as assessed by the daily Kommersant.

Unlike their Western colleagues in such circumstances, the Russian agricultural officials are careful not to formally assign catastrophism, making sure to thank the Kremlin for their efforts.

Wheat prices soar

Professionals note in Siberia, a drought will resume wheat prices, to offset the fall in prices that occurred last year after a phase of overproduction. Prices were burning this weekend on U.S. and European markets for wheat, before a lull yesterday.

Subsequent events depend on the duration of the heatwave, which has experienced five episodes equivalents for 130 years.No meteorologist provides improvement in the medium term, however, but spread to the Far East of Russia. Whether in the Orthodox churches or the plains of Tatarstan Muslim, religious leaders pray for the return of rain.

The leaders of Taiwan and mainland China signed Monday in Chongqing, Sichuan, a free trade agreement that will profoundly change the relationship between the two countries. Called framework agreement on economic cooperation (ECFA), it plans to introduce preferential tariffs on 539 products exported from Taiwan to China, the island being provided by 250 Chinese products. More favorable to Taiwan and in Beijing, however, it divides the citizens of the island. They fear that China, which does not recognize the Republic of Taiwan and considers it a renegade province, one profits to strengthen its hold on her and never grows to become like Hong Kong, part of its territory since 1997 .

A director known worldwide and 28 International Experts. The cast was humorous in the U.S. where critics of James Cameron announced that Leonardo DiCaprio would save BP. However, it is the director of Titanic, which last week gave the U.S. administration and President Obama a report analyzing the solutions implemented by the BP group to pump oil at the origin of massive oil spill affecting the Gulf of Mexico since the explosion of the platform Deepwater Horizon on April 20 last.

The pumping operation implemented by the British group since the beginning of June can not harvest all the oil leaking from the wells.The report, which Le Figaro has obtained a copy, said however that "BP has put in place adequate resources to address the problem," that "decisions taken by the hour after the incident are good for most" but that "more needs to be done." The panel, composed of military personnel, members of the U.S. administration, senior oil industry, meteorologists and coastguard, is especially worried about the pumping capacity of the facilities put in place and their ability to adapt to cyclones that will not fail to develop the area in the coming weeks.

Restart Operation "Kill Top»

The report therefore recommends "three solutions to medium term. It is proposed to add 8 columns pumping of oil field to the three that have been put in place by the oil group.It would exploit holes already drilled in the framework of Operation "Top Kill" capping the well in late May that resulted in failure. "It would be possible to recover far more oil than is being pumped," the report said. Experts indicate that 11 holes would substantially increase pumping capacity and limit the flow of oil into the ocean.

The vessel there since the beginning makes it possible to recover 15,000 barrels per day and a second vessel connected last week on the damaged wellhead should eventually pump 20,000 to 28,000 barrels per day. Insufficient, while 60,000 barrels daily flow into the ocean.

The second recommendation is to replace the current system of pumping with valves placed in depth by a system with valves on the surface.This equipment would stop pumping more rapidly in the event of a hurricane landfall. The experts also recommend that membership cap recovery connected to the wellhead is strengthened. They said it would send the "epoxy", "hooks" and "cement" in the hat, the high pressure and suction at this depth (1500 meters) will had to take this kind of dough.

The third recommendation is to relaunch the operation "Top Kill" bailout sinks for the butcher. Experts suggest that a second pipe is inserted into the wells, the side of those who pump oil, and that this second "pipe" sends a very heavy mud to plug.According to them, sending mud associated with pressure pumping may this time be successful.

The report finally announced that he will make proposals for "such environmental threats are dealt with more effectively in the future." According to our data the use of explosives could cause a collapse and to cap the well has been studied and could be proposed as a protocol for action in case of "new September 11th green."