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Banks still have not digested the 2008 financial crisis. JP Morgan has announced after the close of U.S. markets heavy losses of over 2 billion following the massive purchase of products that were derived originally from the 2008 financial crisis. CEO Jamie Dimon spoke of losses of "litigation of approximately $ 200 million" and "pre-tax losses the brokerage of over $ 2 billion" during a conference call surprise faxless pay day loans. The boss of the first U.S. bank by assets added that these losses could still grow up to an additional billion dollars. The asset portfolio has complained yet "a lot of volatility," said the leader. "We will manage up", but "it could cost us up to a billion dollars or more" and "the risk will remain for several quarters," added the CEO.  

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Less than three weeks of its annual general meeting, it is very bad news just learned that the 40,000 shareholders of Berkshire Hathaway. Buffett suffers from prostate cancer.

"This note to say that I was diagnosed with prostate cancer stage 1. The good news is that my doctors told me that my health does not put anything in my life in danger or does not weaken me enormously, "says legendary investor highly respected in the financial community, in a letter. In his message, he explains that he and his doctors decided he would undergo radiation therapy for a period of two months starting in mid-July.

This protocol will restrict its ability to move, but not prevent it to work everyday, he said. The shareholders of its holding company, Berkshire Hathaway, will be required to the evolution of his health, he further said.

However, the American billionaire sought to reassure its shareholders. "I feel very well – as if my health was perfect – and my energy is 100%" guarantee multibillionaire. More importantly, this announcement comes six weeks after the guru of finance said that the estate is already assured. He concluded: "I will inform the shareholders (Berkshire Hathaway) immediately if my health changed. One day, of course, it will happen. But I am convinced that this day is still far from us, "he concludes.

 

One million dollars per day, or 750,000 euros. Such is the cost of operations by Total to plug the leak on board its platform Elgin, North Sea, said Monday its chief financial officer Patrick de la Chevardière. Added to this bill a loss of $ 1.5 million each day (1.12 million) which corresponds to the cessation of production from fields adjoining the Elgin and Franklin, for a total cost estimated to about 1.9 million euros. These two deposits, located 240 kilometers off the coast of Aberdeen in Scotland, representing 2% of the total hydrocarbon production.

The company was still awaiting the green light Monday from the British authorities to dispatch technicians on the platform, removed a week earlier. Total will begin simultaneously on the one hand, to "kill" the leaking wells at the platform, out of the water, and, secondly, to drill two relief wells Faxless payday loans. If the first operation, "relatively easy", according to Patrick Chevardière, successful, drilling (at least 100 million euros and six months of work) will be useless.

According to Total, gas, mainly methane, disperses quickly in the air. Only 7m3 of condensate (light oil such as gasoline) are currently prevalent in sea Greenpeace, arrived on Monday with a vessel area, intend to verify these statements.

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LE FIGARO. – What do you think of the proposal of François Hollande to fight against the dismantling of French companies?

Jerome Chartier. – I think she will have three effects: be an accelerator of deindustrialization, insofar as an investor does not take the risk now to resume or expand a business in France for fear of not being free to to act. Francois Hollande first puts the brakes, then it must instead press the accelerator. It expresses all the difference between the administered economy, which it promotes, and regulated the economy, which is the one that defends Nicolas Sarkozy. The second effect is the return of any power of attorney of the Commercial Court which, in the early Mitterrand, had helped to give up half of French industry in symbolic franc. And again, it had never prevented or layoffs or the dismantling. Finally, and this is the third effect, this proposal is an absolute breach of property rights remains one of the founding principles of the Republican base.

Nevertheless, 800,000 industrial jobs were lost in France in ten years

.

These numbers are for the period 1998-2008. The dates are important because they correspond to the vote and the implementation of laws 35 hours. Malthusian principle was actually an accelerator relocations to the extent that, when you can not do enough work your employees in France to address the backlog, you produce elsewhere. Since 2007, Nicolas Sarkozy has stepped up to reindustrialise France. In its report released Friday, the OECD also welcome the research tax credit, the elimination of business tax and the status of the freelancer as good structural measures.

VAT can social relaunch "produce in France"?

Yes, it serves to finance a decrease of 12.12% in payroll taxes, but we will continue to do so to produce the same cost or cheaper than our competitors, Germany and Italy, and not China or India as would have us believe the French Francois Hollande.

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Light beverages will be taxed eventually. MEPs adopted on Friday the principle of a tax on soft drinks doubled and extended to beverages with artificial sweeteners. Two cents per can, this should bring 240 million euros instead of 120 million euros initially planned, at the announcement of the measure by François Fillon on August 24. If the government were in favor of doubling the tax to finance a reduction in the cost of agricultural labor, he was strongly opposed to its extension to drink with sweeteners.

Even today, the budget minister, Valérie Pécresse, had urged members to "not lose its coherence" to the measurement and not to "confuse" the public health message.In view of the fight against obesity, taxing drinks lights and soft drinks, "this is not the same thing," had earlier noted the Minister of Health Xavier Bertrand. But MPs were finally ignored the opposition and intense lobbying against the measure of industry.

Tax benefit of reduced fuel oil

In addition to the tax on sodas, parliamentarians got down to the vote of other anti-deficit. Several amendments adopted Thursday night or the night of Thursday to Friday eliminate or reduce existing tax benefits.

This applies to the tax benefit of heating oil used for professional use (in agriculture or construction), that members have reduced Thursday to complete the financing of the lower cost of agricultural labor.The domestic consumption tax applicable on this energy source was increased from 5.66 euros to 7.20 euros per hectolitre. It should bring 80 million euros.

MEPs also voted Thursday night a special tax applicable in 2012 on sales of duty free subject to industrial CO2 quotas. 200 companies overall are expected to be affected by this measure, which should yield about 200 million euros. "It is not an embryonic carbon tax," warned Valérie Pécresse, but "to generate CO2 allowances free to give new entrants."

Measuring more anecdotal in terms of expected revenues (2 million), the reduction of 15% per year of detention applicable to capital gains from the sale of a horse race or sport, has been deleted.The objective of this measure in the Chamber called "anti-Morin" or "anti-Bayrou," referring to the taste of these members for riding, is "to end a plus for horse owners" , explained Thursday the deputy PS Christian Eckert. The reduced VAT rate applied to the horse industry has been maintained, however, because the number of jobs at stake, valued at 6000.

(With AFP)

Commitments at risk of Kweku Adoboli have increased to 10 billion dollars (7.2 billion euros) according to the Sunday Times. Arrested on the night of Wednesday to Thursday, the trader in London the Swiss bank UBS has been detained by a judge Friday. May request bail at a subsequent hearing Thursday.

UBS said Thursday an estimated loss of 1.5 billion euros due to fraudulent transactions of its employees. Since then, the bank did not provide details on the mechanisms in question. The extent of fraud appears, however, reach gigantic proportions: it would be spread over three years since October 2008, without apparently the slightest alarm it caused internally. UBS warned regulators Swiss and British have launched a joint investigation.The bank has set up a parallel internal investigation unit called "Project Bronze" and instructed one of his best traders in derivatives, Jason Barron, to unwind positions Kweku Adoboli. While the fraud would have been discovered in the day Wednesday, all commitments have been liquidated Adoboli Friday.

Supposedly low-risk operations

The trader, who was promoted to his post in 2008 from the back office services, was a member of a small team of five people at Delta One desk. Their mission: to invest large sums to the equity of the bank's alleged market changes, via financial instruments called ETF (exchange traded funds). Generally, low profits emerged from these supposedly low-risk operations at very high volumes.Adoboli of the fault could have come from a lack of coverage of his Paris, which would have resulted in a spiral of losses since the collapse of financial markets this summer.

New to fear layoffs

The extent of the scandal poses serious threats to the future of UBS. While the bank has launched a 3500 plan job cuts, new job cuts are feared. The approximately 6000 employees of the investment bank in London feared an outright shutdown of their business, which should show a loss on the year while UBS as a whole should remain the beneficiary. Despite calls for resignations in Switzerland, head of UBS, Gruebele Oswald replied that he did not intend. "If you ask me whether I feel guilty, I say no," he told the newspaper Der Sonntag.

Concerned about its reputation with its clients it manages fortunes, UBS wrote them a letter Saturday to try to reassure them. "We fully understand that this incident may worry, says the bank. We are very disappointed and we also assure you that UBS is taking the matter very seriously and makes every effort to resolve it quickly. Your assets are safe with us. "

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It was, we had warned at the Elysee, to "gather the international community behind the Libyan authorities to help them succeed in the reconstruction of a new Libya." Ambitious goal of the conference of "Friends of Libya," held Thursday, will have almost been reached, at least in terms of number of participants. Sixty delegations, countries or organizations have responded to the invitation launched by Nicolas Sarkozy, in tandem with David Cameron. An initiative no later than last week, so "with the desire to move quickly to engage the clutch in this critical transition period," noted one in the entourage of Nicolas Sarkozy. Implicitly, participation in the conference meant for those who came, a recognition of the new government of Libya.The step was taken, in extremis, by Russia on Thursday while Algeria, home to the family Gaddafi has promised to do. Alger, whose attitude was described Thursday as "ambiguous" by Alain Juppe, was represented by its Foreign Minister, Mourad Medelci. Going slightly, too, China has nevertheless sent a deputy minister Thursday at the Elysee. One notable absence, South Africa, dissatisfied with the intervention of Nato. The African Union, although represented, also known as not yet ready to recognize the CNT.

Stabilize the country and standardize its neighborly relations will not be any challenge for the new Libya. The fighting is still pending. "The fortunes of war can not be reversed, but the strength of pro-Gaddafi nuisance, including snipers, remains important," notes do you as president.NATO strikes will continue "as long as necessary," warned David Cameron.

Even before the reconstruction of the country, relief was on the menu of the Paris conference to try to overcome the lack of water, electricity and fuel. Immediate needs for which funding must be provided by the thaw immediate $ 15 billion of assets Gaddafi clan abroad, including $ 1 payday loan lenders.5 billion in France. The two main leaders of the CNT, Moustapha Abdeljalil and number two, Mahmoud Jibril, a French plane went for Thursday morning in Benghazi, presented their priorities for reconstruction.

Form an "effective policing" and "democratic"

The main challenge will be the establishment of democratic institutions.To the powers that "accompany" the renaissance, it will be mainly to avoid the excesses of a scenario in Iraq or, even more formidable, in Afghanistan. "Nothing can happen without forgiveness and reconciliation," warned Nicolas Sarkozy. The "road map" institutional CNT expects over eighteen months, the establishment of a provisional government, a Constituent Assembly and the adoption by referendum of a constitution, followed by general elections. But the project is far from being finalized. Already, the European Union was prepared to assist the new authorities to form an "effective policing" and "democratic", said Thursday its chief diplomat, Catherine Ashton. At the request of the CNT, Ban Ki-moon proposed sending a quick UN mission.A few dozen men, and even a few hundred, they could stabilize a country the size of France three times? The question will arise, as was the collection of weapons distributed in abundance and that of Islamism. Risk dismissed out of hand in Paris, where it is stated that "there may be small groups but that does not represent Islam in Libya or a sensitivity or a significant threat." The group of new friends in Libya will be judged on his next visit in late September in New York. Nicolas Sarkozy has finally provided to want to go to Tripoli with David Cameron when the CNT will be installed.

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After the storm that plunged all the stock exchanges, the European stock exchanges succeed they stay in the green on Thursday? In Paris, after opening up 2.96% to 3092.16 points, the CAC 40 went back down just before noon and sank below the threshold of 3000 points, already briefly reached Tuesday. At midday, the index yields 0.69% in Paris 2983.16 points. A drop accelerating since even at 14 hours, he drops 2.40%, weighed down again by the bank stocks. In Frankfurt, the Dax is in the green at 5688.28 points, up 1.33%. The FTSE-100 index of London Stock Exchange is reluctant, for his part. He found the balance to 5011.65 points after spending a few minutes in the red.

The concerns are far from being dissipated, particularly those relating to the slowdown in the global economy and the issue of sovereign debt on both sides of the Atlantic.The overwhelming investor nervousness could therefore persist while no major indicator is the program on Thursday.

Wednesday, the markets were shaken by rumors of a deterioration in the rating of France, immediately denied by the rating agencies and the French government, and concerns about the health of the bank Societe Generale. And the CAC 40 plunged 5.45%, narrowly escaping the psychological threshold of 3000 points to 3002.99 points. Other European markets have suffered the same drop Frankfurt dropped 5.13%, 3.05% London. Madrid and Milan 5.49% 6.65%. In New York, the Dow fell 4.62% and 4.09% for the Nasdaq. However, on Thursday, appeasement was back on the Asian stock markets that are returned to the green or showed moderate declines.

Societe Generale attacked again

Gold continues, meanwhile, fly from record to record.The precious metal has crossed the threshold of 1800 dollars. It is this Thursday morning in 1790 dollars, after hitting a new record of 1815.50 dollars. However, oil resumed its decline in Asia. Yet he had resisted the panic the day before with the announcement of a dramatic and unexpected decline in crude inventories in the United States. In morning trading, a barrel of "light sweet crude" lost 79 cents to 82.10 dollars and that of Brent North Sea fell by 1.10 dollars to 105.58 dollars.

Among the values ​​to be followed, the bank that have been heavily tested yesterday. The Financial Markets Authority (AMF), the stock market regulator, announced that it will monitor developments in the securities sector.Shortly before noon, BNP Paribas (-5.88% to 33.515 euros), and Credit Agricole (-1.51% to 5.981 euros) and plunged into the red after yet open on a rebound.

The title is particularly battered Societe Generale: having lost 14.74% Wednesday, it opened on a rebound of almost 9%. But again plunges 4.13% to 21.265 euros."The willingness of these attacks is to force the SG to a capital increase, which is the workhorse of some analysts and hedge funds in recent months," said an analyst based in Paris at the agency Reuters. "Their reasoning is that the group does not generate enough capital to cope with the capital ratio of over 9% in 2013." The bank, already shaken in 2008 by the Kerviel affair, only to find the investor confidence after several warnings about its results during the financial crisis.

For its part, the CEO of the bank, Frédéric Oudéa, denounced, in an interview with Le Figaro, "the series of attacks" against the French banking sector "sounds completely fantastic, I struggle with the utmost force, attacked Societe Generale, "he lamented. "We have no fear about our ability to raise capital," he added.SocGen has asked the AMF to investigate the origin of the rumors that have depressed its course Wednesday.

Veolia Environnement (4.61% to 10.55 euros) and STMicroelectronics (3.39% to 4.488 euros), especially titles attacked in recent days, return to the field.

In addition, EADS (1.66% to 20.24 euros), the parent company of Airbus, said Wednesday it will not achieve its objectives in the United States in 2020 without new acquisitions.

Title Alcatel-Lucent (2.11% to 2.324 euros) is expected to rise following the release of quarterly results from Cisco Systems, above the consensus of Wall Street.

L'Oreal (2.29% to 1.73 euros) should benefit from the decision by Goldman Sachs, which added its list of preferred European stocks to buy ("pan-Europe conviction buy list").

Saint-Gobain (1.11% to 31.775 euros) has announced the acquisition of Solar Gard, a subsidiary of Belgian group dedicated to Bekaert Specialty Films, as part of its strategy to accelerate its growth through acquisitions.

Maurel & Prom rose 4.22% to 12.35 euros after opening up over 8%. The oil company reported a surge of 123% of its revenue thanks to increased revenues in Gabon and Nigeria.

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Facebook announced Tuesday the acquisition of Push Pop Press, a publisher of books, multimedia touch pads co-founded by two former Apple Kimon Tsiteris and Mike Matas. Little known to the general public, the two men worked on the interface and software key on the iPhone and iPad.

Apple, Mike Matas has participated in the design of several interface elements of the iPhone, as the camera, the display of the battery and phone settings. Tsiteris with Kimon, he also worked on the mapping software for iPad."Mike Matas is responsible or has had responsibility for most of the best and most exuberant designs in recent times" at Apple, said the blogger John Gruber, familiar with the company.

Team Press Push Pop account other well-respected engineers in its ranks, as Austin Sarner, who worked for Sofa, publisher of software for Mac already bought in June by Facebook. On Twitter, the former head of the development of the implementation of Facebook for iPhone, Joe Hewitt, said he hoped "that the acquisitions of Pop Push Press and sofa style mean that Facebook is more like that of Apple that of Microsoft. "

An application for iPad

Facebook confirmed that some engineers Pop Push Press join its ranks, without specifying their assignment.Pop Push Press, who had noted earlier this year by publishing a book multimedia Al Gore for the iPad, will cease operations. "Facebook does not begin to publish electronic books, but the ideas and technology that are behind Push Pop Press will be integrated with Facebook," commented Mike Matas and Kimon Tsinteris. For example, to better present the interactive content, suggests the New York Times.

An image of the future application iPad Facebook.