The price of a liter of unleaded 95 euro climbed to 1.5640, while that of 98 unleaded rose to 1.6022 euro. This surge is due to tensions in Iran and the decline of the euro.
The price of gasoline at the pump hit new highs Friday in France, according to data released Tuesday by the Ministry of Sustainable Development, those of diesel playing in contrast to the decline. The price of a liter of unleaded 95 euro climbed to 1.5640, while that of unleaded 98 (whose sales are much lower in SP95) rose to 1.6022 euro, surpassing both levels records they had met in January, according to figures compiled by the Directorate General for Energy and Climate (EDCM).
However, diesel is still trending down, to 1.3960 euro per liter last week against a peak of 1.4240 in mid-January, and well below its spring 2008 record (1.4541 euro ). These are national averages calculated by the DGEC from data provided by service stations.
This surge is linked to two phenomena, geopolitical tensions (Iran, Nigeria …) that keep crude oil prices at very high levels, and weakening of the euro against the dollar, which increases the cost of black gold imported into France, once its price converted into the single currency. Diesel sales represent about 80% of French consumption of motor fuels, the unleaded 95 just under 15% and unleaded approximately 98% 5.
Cash advance is meant to provide short term relief to borrowers. Since these loans charge high interest rates, rolling over the loan may not be very easy.
Democrats and Republicans are unable to agree on a plan to reduce U.S. debt, which has just reached 15,000 billion. The reasons and consequences of this blockage. The President of the United States Barack Obama
The debt crisis in Europe has almost been forgotten that the U.S. also face their great difficulties on their debt. European stock markets closed sharply lower on Thursday. Paris (-3.4%, below 2900 points), Frankfurt (-3.5%) and London (-2.6%) fell sharply in the wake of Wall Street lost more than 2% at the end of the afternoon. Democrats and Republicans should agree on a plan to save 1,200 billion over ten years to hold their huge debt. But after two months of negotiations, they were still far from an agreement a few hours from the end of negotiations scheduled for Monday evening.
Congress had in effect established a commission to decide on a plan to reduce debt. Composed of twelve members of Congress – six Republicans and six Democrats – the "super-committee" was intended to relieve an abysmal debt that comes to exceed 15,000 billion (you can see it evolve in real time on the www . usdebtclock.org). The six Democrats proposed a plan for 2900 includes 1,300 billion billion tax increase, the six Republicans on the other hand opted for a plan of 2,200 billion euros, with "only" 200 billion of tax increases. Without ever reaching a consensus.
Why the lock?
This blockage occurs less than a year of presidential elections scheduled for November 2012.
Heineken, the world's third largest brewer, reported Wednesday a surprise increase in the volume of beer sold and its sales in the third quarter, supported by the strength of African markets and a rebound in sales in Russia.
Revenues rose 0.6% to 4.65 billion euros against 4.51 billion euros expected on average by eight brokers polled by Reuters.
In August, the brewer warned that weak consumer confidence, combined with a sluggish summer, would affect earnings growth this year.He also maintained its forecast for net profit before exceptional items for 2011, saying it would be roughly consistent with the previous year.
In the third quarter, net income amounted to 525 million euros, an amount virtually unchanged from last year.
The title gained 1.24% to 0800 GMT, having reached in early trade a high of two months with an increase of 4.1%.
Newly appointed head of the IMF, Christine Lagarde Nicolas Sarkozy will meet Saturday to prepare for the G20 summit in Cannes. Christine Lagarde REUTERS / Benoit Tessier (FRANCE – Tags: POLITICS)
Nicolas Sarkozy Saturday at noon will receive the Executive Director of the IMF Christine Lagarde to talk about it with "the preparation of the Cannes summit of the G20 and the situation in the euro area," the Elysee Palace said Friday.
The head of the French state will fly the next day to Berlin for talks with German Chancellor Angela Merkel poour attempt to speed up the rescue plan of the single currency.
Leaders from the eurozone continue intensive negotiations for a recapitalization of banks in the EU to address the risks of contagion from the debt crisis.
Germany has given the green light last week in the expansion of the European Financial Stability Fund (EFSF), which is waiting for the ratification of Slovakia.
Air France-KLM announced Wednesday an increase in passenger traffic of 7.6% in August, together with a load factor up 1.2 point to 85.7%.
The second European airline in terms of sales said in a statement it had carried 6.8 million passengers last month, with revenue per available seat kilometer (RASK) excluding currency "slightly down" from August 2010.
Traffic recorded an increase of 10.7% in the Americas network and 9.0% on the Asia network, for load factors in respective increases of 1.3 points to 89.6% and 1.4 points to 89.4%.
The Caribbean and Indian Ocean network recorded a traffic increase of 10.0% with capacity up 7.1%, while Africa and the Middle East are still affected by political crises and have a stable traffic ( -0.1%) on capacity down 0.5%.
In freight, cargo traffic is also almost stable (-0.2%) with capacity up 2.8%, bringing a decline of 1.9 points in load factor to 62.5% while unit revenue per tonne kilometer (RATK) excluding currency is "up slightly".
Action Air France-KLM on Tuesday completed a course of 5.993 euros, showing a dip of 56% since the beginning of the year.
Oil prices had closed up Wednesday issued after the announcement that the United States had reduced their inventories last week.
The September contract on Brent crude has ended up 4.0%, or 4.11 dollars to 106.68 dollars.
Previously on the Nymex, the contract on September U.S. crude (WTI) had ended with a gain of 3.59 dollars, or 4.53% to 82.89 dollars a barrel.
No discussion of an aid package to Italy took place, said Wednesday the European Commission while the return of the Italian Treasury debt continues to rise because of investor concerns that the crisis spread .
The EU executive said he was confident that all commitments made by the leaders of the euro area summit on 21 July will be implemented.
"We are confident that the commitments of the agreement by European states, including Spanish and Italian will be adopted," said the spokesperson of the Commission at a press conference.
The Italian Minister of Economy Giulio Tremonti met Wednesday morning with the President of the Eurogroup, Jean-Claude Juncker and the European Commissioner for Economic and Monetary Affairs, Olli Rehn.
"Commissioner Rehn reiterated that he remained convinced that the Minister Tremonti and the Italian authorities take steps to put the country back on track for sustainable growth and ensure greater fiscal consolidation," said the Commission in a statement .
Speaking to the press, following a meeting which lasted two hours with Giulio Tremonti, Jean-Claude Juncker said simply: "We had a long discussion about the challenges facing the euro area. We will continue thinking together. "
"I agree with what Mr Juncker said.We had a long and fruitful discussion, "added the Italian Minister.
Council President Silvio Berlusconi has to speak before the Italian Parliament from 1530 GMT on the economic situation of the country.
In Spain, the President of the Government Jose Luis Rodriguez Zapatero was to chair a crisis meeting in the afternoon.
The yield spread between ten-year bonds Spanish and Italian from the German paper of the same maturity, part of the European bond market, continued to grow Wednesday, within the scope of fears of contagion from the debt crisis of the euro area.
The yield spread between Italian and German paper was 386 basis points (bp 12) and ten-year bonds between Spanish and German from 402 basis points (13 bps).
The performance of Italian securities decade was up 8 basis points to 6.225% and the Spanish equivalent obligations was 6.371% (6 bp).
The second rescue plan for Greece will reach 109 billion euros, of which 37 billion will be based on the private sector, it said in the final communiqué of the European Summit held in Brussels on Thursday.
"The net contribution of the private sector is estimated at 37 billion euros," the document, which states in a footnote to the page that this figure takes into account the cost of credit enhancement for the period 2011-2014.
The repurchase program will contribute to debt of 12.6 billion euros, bringing the total to 50 billion euros over the period 2011-2014.
Over the period 2011-2019, the net contribution of the private sector is expected to reach 106 billion euros.
This money will be lent by the European Financial Stability (EFSF), will be accompanied by an interest rate of about 3.5%, and maturity of the loans will be extended to seven and a half years to 15 years less, even 30 years.
"We will provide the necessary resources to recapitalize banks if the need Greek manifesto", it said.
AirAsia will buy 100 Airbus 320neo more, bringing its total order to 300 aircraft, said a source with knowledge of the agreement.
The Malaysian low cost airline and the European aircraft manufacturer had announced last month at Paris Air Show an initial order for 200 aircraft for $ 18.2 billion, already establishing a record number of devices.
By playing a clause allowing him to add 100 units to its orders, AirAsia is in the amount to $ 27 billion based on list prices and is positioning itself to become one of the largest airlines in the world its fleet.
AirAsia is competing on the Asia-Pacific region, with carriers such as IndiGo Indian, who also had a big order from Airbus, Tiger Airways, Singapore, and Australia's Jetstar.
"The last command of replacing AirAsia was in 2007/2008. These new orders were long overdue so it's not an impressive control," says Kunal Sinha, the consulting firm Frost & Sullivan.
"The new fleet of AirAsia is mainly linking Southeast Asia to India and China.By 2015, the South-East Asia will be open, so you have to have a growth plan. "
NO CHANGE
Like the first part of the order, the new aircraft will be equipped with CFM engines, the source said, who did not wish to be identified before the official announcement.
AirAsia will receive a discount on its entire order and delivery of 100 additional aircraft will be at the discretion of the carrier, she said without elaborating.
Aireen Omar, a regional manager of AirAsia, said: "We ordered 200 and so far there is no change." A spokesman for Airbus said the manufacturer would not comment on trade talks are confidential.
The action AirAsia rose 0.3% Wednesday.She has more than tripled in value over the past year, investors supporting its policy of rapid expansion. EADS lost 0.42%.
This week, AirAsia founder Tony Fernandes had told Reuters that he regarded the company as being able to have 500 aircraft, which would make the second low cost in the world behind the U.S. Southwest Airlines.
AirAsia, which serves 63 destinations in 20 countries, currently has 90 aircraft, almost all single-aisle A320.
According to the International Air Transport Association (IATA), United Continental had the largest fleet of passenger aircraft in late 2010, to 737 devices. It was followed by Delta Airlines (722), American Airlines (618) and Lufthansa (427).
Remy Cointreau announced Thursday a current annual operating profit rose sharply thanks to the rise in margins in the cognac, and significant debt reduction allowed by the sale of its two brands of champagne.
Remy Cointreau, who just completed the sale of Piper-Heidsieck and Charles Heidsieck family group EPI (Bonpoint, Weston, Michel Perry, Bonpoint, Alain Figaret) for an enterprise value of 412 million euros, will pay its shareholders a special dividend of one euro, in addition to an ordinary dividend of 1.30 euro unchanged.
Its operating profit excluding exceptional items rose by 17.6% to 167.0 million euros, exceeding the Thomson Reuters consensus I / B / E / S, which was 158 million euros, with organic growth of 8% , close to the indications given by the group at the publication of its annual turnover in late April.
This performance number two behind French spirits Pernod Ricard explained by the sharp rise in margins of Remy Martin cognac, whose operating profit jumped 32.7% to 140.5 million euros in the year through Sales of bottled upscale brand in Asia, became the first region of the group in terms of sales.
These results helped offset the sharp decline (-17.4% to 42.6 million) of those pole liqueurs and spirits (Cointreau, brandy St-Remy), sealed by falling sales of Metaxa Greek brandy.
In champagne, Cointreau which will retain the distribution, the results came back in the green thanks to the recovery of demand, giving an operating profit of 2.8 million after a loss of 4.0 million the previous year.
The group's net profit, excluding items, spring meanwhile to 107.5 million euros (109 million consensus).
Net debt, drastically reduced (-34% to 328.9 million euros), can reduce the ratio of net debt to EBITDA at 2.19.
Remy Cointreau title ended at 56.50 euros on Euronext Paris on Wednesday, recording an increase of 6.7% since January and has a market capitalization of 2.8 billion euros.
