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Calling Christian Estrosi, Minister of Industry, has been heard. The management of Total committed, in a statement to guarantee employment to every employee, regardless of the decision about the future of the Dunkirk refinery.

The Minister of Industry said that Monday morning that the government "will not accept" the closure of the Total refinery at Dunkirk "until there are no guarantees necessary for the sustainability" of 800 jobs concerned, "he said Monday on radio BFM.

"Total must invest in employment" (CFDT)

The secretary general of the CFDT (French Democratic Confederation of Labor), François Chérèque must also be reassured that he claimed in the wake of Christian Estrosi, that: "Total has a lot of money, so total should invest in employment."He said Total "must go beyond" its legal obligations: "He has to justify the closure, but it must ensure that all the jobs lost are converted to another activity Total, plus subcontractors.

According to La Tribune, the continuation of the refining process would require 60 and 120 million euro investment. "This range is the budget for the full review of the refinery 'reply a spokesman for Total.

In March 2009 already, the oil company had attracted the ire of politicians, after announcing the abolition of 555 posts in France, including 249 by 2013 in the refinery. A few weeks earlier, had issued a total record profit for 2008 of 13.9 billion euros.

Total release February 11 its profits in 2009, expected around 8 billion euros. Total declined to comment on this figure.

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"Refining: Total loan closing Dunkirk

With 3.2 billion net profit in the third quarter of 2009, the U.S. investment bank Goldman Sachs has recovered quickly from the crisis. And for good reason. According to a survey published by The New York Times December 23, analysts at Goldman Sachs had anticipated the collapse of the housing bubble in 2006. The officers of the bank had lowered their recommendation on the mortgage market from positive to negative in December 2006, discreetly. In the process, Goldman Sachs has begun to shed its portfolio of CDOs. The whole, continuing to sell such financial products to its customers.

Losses abysmal for some …

Created in 2005 by two traders at Goldman Sachs, Jonathan Egoli (graduate of Princeton) and the French Centrale Fabrice Tourre, CDOs (Collaterized debt obligations) known as Abacus products were stars.At that time the housing market was booming. More than $ 108 billion of CDOs were sold to institutional investors, pension funds and insurance companies in the United States and Europe between 2005 and mid 2007, according to statistics from the company Dealogic.

… Substantial benefits for other

But the end of the housing bubble has left buyers of CDOs on the straw. Goldman Sachs was not the only one to make the right bet. According to Wall Street sources quoted by The New York Times, other banks, including Deutsche Bank and Morgan Stanley, and smaller investment companies as Tricadia also bet on falling subprime.And were able to recover sums from insurers.

Given the extent of suspicion, an investigation was initiated by members of Congress, the SEC (the equivalent of the MFA in France) and the Authority of financial sector regulation (FINRA). To determine if these banks and hedge funds have violated the regulations on the sale of securities they have created and injured their own customers. Suspicions immediately contradicted by Goldman Sachs.

Goldman Sachs denies

In a statement posted on its website, the investment bank responds to the New York Times."Goldman Sachs, like many other financial institutions, has suffered substantial losses in its mortgage portfolio, due to the deteriorating housing market." Losses related to such activity amounted to 1.7 billion dollars 2008.

The bank also noted that buyers were "important and sophisticated investors, who had all the resources internally to analyze and adjust their portfolios. Finally, she denied having withheld information to the public regarding its recommendations on CDOs. While the debate swells on the federal government support to banks, which are expected to announce record profits in 2009, explanations of Goldman Sachs will likely be expected to turn.

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Article by New York Times (English)

While tourism remains weakened by the crisis, TUI AG is doing rather well. The German group published its results on Tuesday nine months, from January 1 to September 30. Boosted by gains from the sale of 43.3% owner of Hapag-Lloyd AG, net income was multiplied by ten. It stood at 401 million euros, against 45 million euros over the first nine months of 2008.

These figures will serve as the annual results for the year 2009. TUI rose on a year shifted from October 2009. "This positive development shows clearly that our tourism business is fundamentally healthy and that over time," said Michael Frenzel, CEO of the group, in a statement. The turnover, now entirely generated by tourism, but has slipped to 14% on a year to 13.1 billion euros.Subsidiaries TUI Travel (tours), TUI Hotels & Resorts (hotels and clubs) and TUI Cruises (cruises) have seen their business drop by 14%, 5% and 9% respectively. The weakness of the pound has also weighed.

Despite the difficult environment, operating income was up 5% to 696 million euros over the year amputated in 2009. And its evolution should remain "stable" for the current year, the statement said. Michael Frenzel is optimistic. The turnover and profits should start rising from 2010/2011, "if the economy recovers as expected.

The insurer and financial services provider American International Group has introduced a profit of $ 455 million in the third quarter, earnings per share of $ 0.68, which remains well below market expectations. Adjusted EPS reached $ 2.85.

In the third quarter of 2008, the group had recorded a loss of 24.47 billion dollars, which had propelled the brink of bankruptcy.The U.S. State then had paid nearly 180 billion dollars in aid, partly through loans to save a world leader in insurance.

The statement said that the derivatives portfolio of AIG Financial Products was reduced by 13% compared to 1300 billion as at June 30, 2009.

The summer rally that propelled the markets to their highest annual will not rise enough to make sufficient investment value of the group, as falling from 10% to $ 35 in trade pre-market trading.