miércoles, 15 de diciembre de 2010

A plan to triple in 2012 Chinese tourism

The Ministry of Industry, Tourism and Commerce wants the 89,523 Chinese tourists arriving in Spain in 2009 to be 300,000 in 2012 and one million in 2020. To this end, the holder of the portfolio, Miguel Sebastian, has used his official visit to China to present the China Tourism Plan. However, this niche market grew last year by 2.9% over the previous 470% in the last decade.

This package will include the development of guides on Spain in Mandarin, adjusting meal times, training for tour guides and exploring ways to increase the frequency of direct flights between China and Spain.
For now, Spain has two tourist offices in China, in Beijing and Guangzhou, although the government is considering strengthening the promotion campaign in China and the Chinese tourism.
Spain Tourism

Spain is not a relevant target of China's foreign investment, which represents less than 1% of foreign direct contribution, while Spain goes to China for 1.8% of direct investment. The minister "trusts" that the forthcoming visit to Spain of Chinese Vice Premier Li Keqiang, are finally closed several contracts which will provide 1,000 million euros in investments in China.
One of the awards "unlocked thanks to work done by all parties is that of Villar Mir, which plans to invest 860 million euros in two factories of silicon and power complex and the Chinese tourism..

Chinese tourism

Another contract is closed and the Spanish company ENSA nuclear equipment and SENPEC China, which will provide two steam generators at a nuclear future China 100 million euros and the Chinese tourism..
For his part, stressed the importance Sebastian to be opening an office in Spain in the Chinese bank Industrial and Commercial Bank of China (ICBC), scheduled for January 24, to attract investment from China to Spain and to make Bridge for SMEs that decide to export to China.

martes, 7 de diciembre de 2010

U.S. wins U.S. $ 12,000 million to the rescue of Citigroup


The Treasury Department United States has sold the last package of shares held in Citigroup in exchange for their support during the financial crisis.
Have entered the public purse of $ 10,440 million (7.828 million euros) for the sale of 7% of shares still owned by the state, so the gross profit of the whole speech was about 12,000 million dollars (8.985 million euros) and the U.S. Economy.

City Group

The government injected between 2008 and 2009 to 45,000 million dollars in the state, the operation which took control over 36% of the capital stock of Citigroup. Citi paid $ 20,000 million in preferred stock and another 25,000 billion dollars were converted into common shares of the bank, which were held by the U.S. Treasury and the U.S. Economy..

U.S. Economy


"With the sale of remaining shares of Citigroup have had the opportunity to achieve substantial benefits for taxpayers and avoid future risks," said Tim Massad, representative of the Treasury and the U.S. Economy..
"With this transaction, we advance our goals of recovering funds (TARP, created in the Bush administration to save the banks), to protect the interests of taxpayers and to end government involvement in the companies," he said and the U.S. Economy.

martes, 30 de noviembre de 2010

Obama proposes to freeze two years the salaries of public employees

U.S. President Barack Obama, proposes to freeze the salaries of federal government workers for two years.
The measure would affect only the civilian and not military, even if the Defense Department would save U.S. $ 2,000 million in fiscal year 2011, 28,000 million over the next five years and more than 60,000 million in next decade, according to White House estimates.
The administration has reviewed the various levels of public salaries, and has concluded that the most skilled workers have a wage slightly less than they deserve, while employees with less preparation are "overpaid" compared to the private sector.


Obama freeze the public salaries

"This freeze is not a punishment for federal workers or a lack of respect for the work they do," White House apologized in a statement. "From doctors to nurses who care for our veterans, men and women who care for our national parks", calls the White House.

"Because of the irresponsibility of the past decade, the president has inherited a deficit of $ 1.3 billion (...) that threatens to drag the nation into a second Great Depression," says a government statement."This is the first of several actions to take in the next budget to put our nation in fiscal path, so we asked some sacrifice to us all," he adds and the U.S. public salaries.

U.S. public salaries

These measures include the freezing of salaries of politicians and the elimination of subsidies and save U.S. $ 8,000 million cut in excess of public buildings with government agencies."The president presented a reduction of more than a trillion dollars of deficit in the 2011 budget, including a three-year freeze on public spending unrelated to security, which will lower spending in this concept in 50 years" , says the White House U.S. public salaries.

viernes, 26 de noviembre de 2010

Zapatero is the 'key' to save the euro

The British weekly The Economist says the Spanish prime minister is "the key" to prevent the collapse of the euro, and that what happens in Spain is "crucial" to the single currency. Therefore, claims the leader of the Spanish government to "revive the reforms" to stop the fall of the euro.
"The euro's future resides in Germany and the European Central Bank, they, after all, are those with the money. But right now, Zapatero is the key. If you act quickly, he could play a key role to prevent the collapse of the single currency, "he added Euro and european economy."
.
In an article entitled 'Contagion from Ireland to Iberia', 'The Economist', which also refers to the Spanish prime minister as "Zapateuro" points out that, unlike as happened after the rescue to Greece in May, investors are Instead of just "have stopped to catch his breath before continuing knocking the Irish assets, as well as Portugal and Spain Euro and european economy."
."

 Zapatero the solution to save the euro


"The euro's future will be secured only when the infection is gone. And this, it is now clear, depends crucially on what happens in Spain," he warned.
In this line, the financial weekly said that while "panic" was limited to Greece, Ireland and Portugal, the eurozone could afford it, but warns that Europe's rescue plan "is not big enough" to cope with the problems of the fourth largest economy in the euro zone, with a GDP that exceeds that of Greece, Ireland and Portugal combined.
In this regard, stresses that fears about Spain seem "exaggerated" because, while sharing some of the banking problems in Ireland or the "horrible competitiveness" of Greece, has fewer problems than them. "The public debt of around 60% of GDP, is below the German and the EU average. Its banks are strong. His multinationals are increasing their exports," he adds Euro and european economy."
However, accused Zapatero, "who has shown that really understands the need for reform", of making a "big mistake" when it adopted its adjustment measures in May after the pressure received by the markets after the crisis in Greece . "In part because these actions earned him a break from the markets, and partly because it resulted in a 10-point drop in popular support for the PSOE and the general strike call their friends in the unions, others postponed reforms, "he criticizes.

Euro and european economy

Thus, 'The Economist' points out that Zapatero is now again facing markets "with open eyes" and a widespread perception that the Spanish economy will only grow. Also, remember that unemployment has been stuck above 20%, the indebtedness of households and firms is above the European average and that the "impenetrable regional government accounts invite suspicion and the Euro and european economy."

In this sense, the British weekly emphasized that when markets are consumed with worry is never easy to change their minds, so they said that if Zapatero wants that to happen, should take several steps "quickly."
Among these, the need to develop a medium term fiscal plan "credible", which means come clean on the debt of the banking system and the regions, and to accelerate a plan to increase the retirement age from 65 to 67 years Euro and european economy."

Secondly, points out that Spain should do more to help Spanish companies to compete, "because once it is clear that Spain can grow, your debt will be much less fear." In addition, notes that his labor reform was "very shy" with "a rigid, centralized system of collective bargaining mandates for annual growth of wages, no matter what."

martes, 16 de noviembre de 2010

Crisis in the EU for the lack of agreement on the budget

Approval of the budget of the European Union (EU) by 2011 has run aground on Monday definitely differences between the governments of the Twenty and the European Parliament (EP), which opens a new crisis in the air leaving the funding for next year.

With an agreement on the figures for next year under his arm, the Council, an institution that represents the Member States, and the Parliament have made a pact not to move them forward because of the war between a minority of countries and parliamentarians
and the The european crisis.
A group of Member States, led by the United Kingdom and the Netherlands have refused to accept the demands of PE, which requires a series of political commitments in return for giving up its claim to increase the budget next year by 6%. MEPs want guarantees in writing about his role in deciding the future of EU funding and the opening of a debate on the EU to provide more resources with which to finance themselves. In the two claims that today have become a "no" convincing national budgets, although the Belgian presidency has exhausted the deadline, set for midnight, looking for a deal and the
The european crisis .


The european crisis
The position of countries is difficult to accept for the MEPs, who believe that the Council did not have such account as it should be as set by the Lisbon Treaty, to which the rules are negotiating the budget for the first time this year. This was acknowledged on Monday the European Commissioner for Budget, Jamusz Lewandosky, who has warned countries that their refusal to agree would be seen as an "insult" by the Parliament
and the The european crisis.

The commissioner, who has tried to facilitate an agreement between the two institutions has ensured that the "absolute majority" of countries willing to reach an agreement and has accused "a few delegations" to inflate their demands and derail negotiation
and the The european crisis.
"Parliament has shown from the beginning a great sense of responsibility", stressed in a press conference the chief negotiator of the Parliament, Alain Lamassoure, who stressed that the deputies had never before accepted as is raised by the figures Council. The expiry of an agreement, the European Commission will now propose a new draft budget, which will need to be considered by the Council and Parliament. According Lewandosky, "probably" the EU will have to start the year by extending the budget this year and using the system known as "twelfths", giving a monthly expenditure of up to one twelfth of the budget of the previous period. This, according to Brussels, "seriously affect" projects like the Foreign Service or the new structures of financial supervision
and the The european crisis, two of the flagship initiatives of the Union.

European Budget
"The beginning of next year will not be easy for the beneficiaries of the EU budget," warned the sheriff, who deeply regretted the "fiasco" of the negotiations
and the The european crisis.. Meanwhile, some sources insist that the budget could still be agreed before the end of the year and that the matter will be discussed by the Heads of State and Government, meeting in Brussels in mid-December. The President of the European Parliament, Jerzy Buzek, who participated actively in the negotiations, has said in turn that the institution will do "everything possible" to approve the budgets.
In the same vein, the Belgian Minister of Budget, Melchior Wathelet, has insisted he can still get an agreement, provided that both parties are willing to give up something. They will have to overcome the reluctance of countries like the United Kingdom and the Netherlands, contrary to cede in Brussels at a time when they are forced to implement major cuts at home. The EU budget is roughly equivalent to 1% of gross national income of the EU and more than two thirds of it are engaged in agricultural support and cohesion and development
and the The european crisis..

jueves, 11 de noviembre de 2010

Obama: 'U.S. and China are forced to seek growth'

The U.S. president, Barack Obama said at the beginning of a bilateral meeting with his Chinese counterpart Hu Jintao that the two countries, major economies in the world have the obligation to seek "a firm footing and sustained growth."
Both leaders met shortly before the opening today of G20, which groups the world's major economies, in Seoul and the U.S. and China Currency..
As indicated by the U.S. president, who said the two world powers have strengthened their ties in recent years, the two countries have "special obligations" to ensure nuclear stability.
For its part, the Chinese president said his country will "strengthen dialogue and cooperation" with the U.S..

U.S. and China Currency


"The Chinese side values its relationship with the U.S.. A solid relationship with the U.S. is good for the Chinese people and for peace and prosperity," Hu said in the seventh bilateral meeting between both leaders.
Currency WarThe two presidents have abundant business to discuss. Their countries are heading to a confrontation during the G20 summit on their respective monetary policies, the "war of currencies" and imbalances in current account balances and the U.S. and China Currency.
Washington believes the Chinese currency, the yuan, artificially listed below market value and calls for Beijing to let more rapidly fluctuating more freely.
Beijing is reluctant to liberalize the price of its currency more quickly for fear the effect this may have on their exports and inflation and the U.S. and China Currency..

U.S. and China Economy

But the Republic has also harshly criticized the decision by the U.S. Federal Reserve last week to inject liquidity into the system, valued at 600,000 million dollars.That, argues Beijing will devalue the dollar and adversely affected other economies in its exports.China also refuses to limit its current account surplus of 4% of GDP, as proposed by the U.S and the U.S. and China Currency..
The two leaders will also address issues such as human rights in China, the nuclear programs of Iran and North Korea, Burma elections and the referendum on self-determination in southern Sudan due in January.

lunes, 8 de noviembre de 2010

China, the rescue of Portugal

For more than a decade that a Chinese president did not visit Portugal. It has done this weekend, Hu Jintao. He came with deeper pockets with which business has closed major agreements with China wants trade with Portugal, currently in about 2,400 million per year, is seen doubled to 2015 and the China Economy. and the China Economy.
The highest Portuguese authorities have welcomed Hu and his large party with all the pomp and circumstance, diverting even a demonstration organized by Amnesty International to defend human rights in China, banned in Belém, first stop the Chinese president. It had nothing to tarnish a visit from the standpoint of economics and finance, as well as political, could represent a great achievement for Portugal and the China Economy..
During the days prior to arrival Jintao, the Lusa press speculated that China bought part of sovereign debt, which is why Finance Minister Fernando Teixeira dos Santos has been in the two meetings held with Hu Jintao President Cavaco Silva and Prime Minister Jose Socrates.

China and Portugal Economy

Although there is nothing concrete yet, in his speech, no right to question-this Sunday, President Jintao said his country "is willing to support through concrete action the Portuguese efforts to minimize the impact of financial crisis in country and the China Economy.. "

In return, China is in Portugal, as well as a potential trading partner, a gateway to other markets that interest you, not just the south of Europe, which has expressed interest in the logistics platform of the port of Sines, but also in Angola and Brazil, two countries of Portuguese language and with which Portugal maintains a close collaboration.
In fact, thirteen cooperation agreements signed today between the two countries, power and China's EDP lusas ICC has established a memorandum of cooperation to carry out joint projects on renewable energy in Asia, Africa, Europe and Brazil and the China Economy.

China Economy

For its part, the Industrial and Commercial Bank, the largest Chinese financial institution, has negotiated its entry into the capital of the Portuguese Central Bank (BCP). And the telecommunications company Lusa Portugal Telecom and China's Huawei has established the principles of a strategic partnership to develop next-generation services.
For its part, Portugal is in this new strategic partnership with China not only an opportunity to expand their exports, which have grown over 60% last year, the Asian giant, but more importantly, to launch a new international markets message of peace, thanks to the Chinese government's interest in buying part of its sovereign debt, as it did before with Spain and Greece and the China Economy..

martes, 19 de octubre de 2010

Japan warns that economic recovery is on 'pause'

The Japanese Government said today that for the first time in the past two months, the country's economic recovery appears to be "on hold" amid weak exports and concern about the yen's strength. In its monthly economic survey, the Government indicates that economic activity "appears to have recently gone on hiatus" and that exports, composed mainly of electronic products and machinery, "have weakened lately." This is the first negative economic assessment made by the government since February 2009 and first used the term "hold" since July 2008, two months before the bankruptcy of Lehman Brothers, according to the local agency Kyodo. The negative review is due in part to the slowdown in the Chinese economy, Japan's largest trading partner, which has hurt other Asian nations and has affected the demand for Nippon, said an official spokesperson to present the study and the Japan economy recorvery. Thus, Japanese exports mainly consist of electronic products, machinery and motor, "have weakened lately," the spokesman added.
Japan economy recorvery
Last August, Japan's trade surplus fell for the first time in the past 15 months amid a slowdown in the pace of exports, which grew 15.8% YoY but fell more than 5% from the previous month
and the Japan economy recorvery.. Moreover, "the latest data clearly show that industrial production (Japan) has worsened," the spokesman said, referring to falls sustained in the last three months and the prospects of reductions also in September and October. He also warned that the prolonged slowdown in exports and the fall in production could be reflected in the results as capital spending Nipponese companies, as well as lead to a reduction in working hours, resulting in lower wages and the Japan economy recorvery.In the report, the Government is confident that the pause in the recovery is temporary and that the economy can continue to grow, supported by appropriate stimulation and the recovery of some foreign economies. But he added that risks remain and urged the Bank of Japan (BOJ) to "continue supporting the economy with an appropriate and flexible monetary policy."


Japan economy
The economic report was released amid concerns about a stronger yen, which is at its highest level in 15 years against the dollar despite the Japan government intervention in currency markets last month
and the Japan economy recorvery.. The Japanese currency was trading today at around 81.38 against the dollar units, well below the average of 89.66 units were then determined by the major exporting companies Nipponese. Japan came in the second quarter of 2009 from its worst recession after World War II.

jueves, 14 de octubre de 2010

McDonald's seeks business in wedding receptions


The U.S. fast food chain McDonald's will debut in early January 2011 a wedding banquet services at three of its branches in Hong Kong, an alternative to the expensive packages offered by traditional institutions new mac donalds business.
The banquet menus offer the usual in this chain to be obtained preferably in cash and do not include alcoholic beverages.The cost will not exceed a few hundred euros for a conventional wedding, compared to between 20,000 and 40,000 euros on average it costs in the usual restaurants and hotels wedding present.


McDonald's in the wedding receptions

The former British colony will become the first territory to test this service, McDonald's, though the chain has offered its space for banquets and special occasions in response to specific requests.
In Hong Kong, where the menus of the chain does not reach three euros, these establishments have better image than in other Western countries new mac donalds business.
The three branches, while a space devoted to the celebrants, will remain open for regular customers.
Escuchar

jueves, 7 de octubre de 2010

The Nikkei, unchanged and with a yen for the clouds

The Tokyo Stock Exchange closed today unchanged a day when the yen became listed on its highest level against the dollar in fifteen years.
The Nikkei index lost only 6.62 points (0.07 percent) to 9684.81 points, while the Topix index, which groups all the values of the first section, rose 1.56 points, or 0.18 percent , to 846.06 integers.The yen focused much attention on Tokyo's selective, as they came to be exchanged at the high end of the 82 yen, its highest level in fifteen years.The appreciation of the Yen was however countered by the momentum that continues to market the decision of the Bank of Japan (BOJ) on Tuesday, leaving virtually zero interest rates.
In an echo of that announcement, the Nikkei has gained 3 percent in the last two days and today the market was affected by the collection of revenue, according to analysts cited by the local agency Kyodo.
The financial and real estate has particularly benefited from the decision of the BOJ, which has not yet been able to curb the yen's appreciation.

Nikkei and Yen

After the dollar appreciated in New York last night to the 82.75 yen during the day today on the Tokyo foreign exchange market the dollar fell to the 82.70 yen, after he had closed the Tokyo Stock Exchange.
Among the gainers sectors highlighted mining, retail and real estate, while gave the air, rubber products and forestry.The Nomura Real Estate Holdings State was among the winners, with an increase of 5.3 percent to 1,304 yen, while Mitsubishi Estate gained 2.2 percent to 1,508 yen.In the first section 980 securities advanced, compared to 520 that fell and 160 ended unchanged and the nikkei and yen.
The leader in value and volume of the day was the bank Mizuho, which gained 0.8 percent to 127 yen.
Trading volume was 2192.81 million shares, down from 2884.88 million Wednesday.

lunes, 4 de octubre de 2010

The euro's future is bleak without reform

The euro's future is bleak unless Europe does more to help member countries facing an adverse economic situation, said the Nobel prize winning economist Joseph Stiglitz.
In an excerpt from a commentary on his book "Freefall", published by the Sunday Telegraph, former World Bank chief economist also said that only a matter of time until Spain is attacked by speculators and the euro future..
"The euro area needs a better economic cooperation, not only the kind that merely reinforce the rules of the budget, but cooperation also ensures that (...) when countries experience adverse situations, receive help from others," he wrote and the euro future..

The  euro future

"Europe created a solidarity fund to help new members to join the EU (...) but did not create a solidarity fund to help anywhere in the euro area face a crisis. Without that background, the prospects for the euro the future are grim, "he said and the euro future..
Stiglitz also said the spending cuts to do Spain possibly worsen unemployment, which is already about 20 percent, and slow the economy, leaving little improvement in sight for your tax situation.
"Spain could be entering the kind of death spiral that afflicted Argentina just a decade ago," said Stiglitz, winner of the Nobel Prize in Economics in 2001 and the euro future..

Euro Currency

"Only when Argentina ended its fixed exchange rate against the dollar began to rise and reduced the deficit. Now, Spain has been attacked by speculators, but that could just be a matter of time," he said and the euro future.

miércoles, 29 de septiembre de 2010

General Motors actual creation of new financial arm

General Motors (GM) said today that the October 1 AmeriCredit closes acquisition, which paid about $ 3,500 million, and that the finance company will be renamed General Motors Financial.
GM's announcement comes shortly after AmeriCredit's shareholders approve the transaction and the General Motors crisis.

General Motors crisis

The automaker said the acquisition of AmeriCredit "will create the foundation of the company's plan to create a domestic financial arm to allow GM gives consumers more options for funding the United States and Canada."GM said the purchase represents a minimal impact on the income of the company and does not change its goal of achieving a solid investment grade and the General Motors crisis.
The manufacturer also said Ally Financial, formerly GM's financing arm GMAC under the name "continue to provide essential financial services." In 2006 GM sold most of its stake in GMAC to Cerberus investment fund.
AmeriCredit, a leading independent finance companies buy U.S. cars, has assets valued at about U.S. $ 10,000 million and approximately 800,000 customers.

domingo, 19 de septiembre de 2010

Wall Street closed up and accumulates in the week gain

U.S. stocks closed slightly higher Friday, while the Nasdaq rose supported by strong earnings and an upbeat outlook for the technology company Oracle. The action Oracle Corp, the third largest software maker in the world, rose 8.3 percent to $ 27.46, and led the Nasdaq higher, after the company presented quarterly results better than expected and gave a forecast that beat Wall Street expectations. The close of trading on Friday marked the expiration of stock futures and options contracts in September, which usually tends to increase the volume and volatility and the Wall Street closed up.

Wall Street closed up

However, market strategists said the businesses were relatively limited. 'The market has been relatively stable and the volume has not risen to levels that people were waiting for, "said Bernie McSherry, director of strategic initiatives Cuttone & Company and the Wall Street closed up.. The Dow Jones industrial average rose 13.02 points, or 0.12 percent, to 10607.85 points. The Standard & Poor's 500 Index gained 0.93 points, or 0.08 percent to 1125.59 points. The Nasdaq Composite gained 12.36 points, or 0.54 percent to 2315.61 points. For the week, the Dow Jones rose 1.4 percent, the S & P 500 advanced 1.5 percent and the Nasdaq gained 3.3 percent. The S & P has a support at the moving average of the last 200 days, which is close to 1116 points, a level exceeded on Monday.

U.S. Market

Shares of Texas Instruments Inc. rose 3 percent to $ 25.73 after the chipmaker raised its share buyback program and quarterly dividend by 8 percent. Shares of Research in Motion Ltd, maker of the BlackBerry, advanced 0.3 percent to $ 46.64, cutting most of its gains from earlier in the session, after analysts lowered the price target on the stock because focused more on the intense competition it faces and the weak U.S. performance in the company's solid result and the Wall Street closed up.\.

viernes, 17 de septiembre de 2010

U.S.: Consumer Prices Rise in August

Consumer prices in the United States continued to rise in August, after having done so in July, spurred by energy, said Friday the Labor Department in Washington.
Increased 0.3% over July, according to data corrected for seasonal variations, ie as much as the previous month (the 0.1% increase was revised upward) and the U.S.Consumer Prices Rise , the ministry said.The increase in prices in August were in line with the average estimate of analysts.Inflation returned in July after three months of falling prices. One must go back to August 2009 to find a price index increase of that magnitude (+0.4%) and the U.S.Consumer Prices Rise.

U.S.Consumer Prices Rise

The increase in prices during the first two months of the summer was caused by higher energy prices, which rose 2.3% mainly due to the increase in gasoline (+3.9%).Food prices rose for the first time since April (0.2%) and the U.S.Consumer Prices Rise .
Excluding food and energy, the so-called "core" inflation was zero (as in March and April), after three months in which amounted to 0.1% or 0.2%and the U.S.Consumer Prices Rise .

jueves, 16 de septiembre de 2010

Eurozone trade surplus rises to 6,700 mln euros in July

The trade surplus for the euro zone in July widened more than expected, according to data released Thursday, but the slowdown in the growth of exports and imports anticipated a slowdown in economic activity in the second half in the Eurozone  Economy.. According to the Eurostat statistics agency, the trade surplus for the 16-nation euro zone rose to a seasonally adjusted 6.700 million euros, while the June surplus was revised down to 2,200 million euros. In the same month last year, the surplus came to 11,900 million euros in the Eurozone  Economy..

Eurozone  Economy

Economists polled by Reuters had forecast a surplus of 1,500 million. Exports grew 18 percent year on year and imports rose 24 percent. But although both numbers are very high, were lower than June, when it rose by 27 and 31 percent, respectively, and May, with 24 and 29 percent in the Eurozone  Economy.. Adjusted for seasonal factors, the euro area recorded a trade deficit of 200 million euros in July, lower than the deficit of 1.400 million in June and 2,600 million euros in May. In that vein, the seasonally adjusted exports fell 0.6 percent in July from June and imports fell 1.5 percent against the previous month in the Eurozone  Economy.

miércoles, 15 de septiembre de 2010

Markets are still suffering fallout from the collapse of Lehman Brothers two years ago

Two years after Lehman Brothers star in the biggest bankruptcy in history, the aftermath of the financial crisis that devastated still noticeable today in the world markets, but, finally, have agreed to discuss concrete measures to avoid similar situations .Today marks two years to the day that shook Wall Street collapse seeing one of its largest flagship: the investment bank Lehman Brothers was forced into bankruptcy due to the lack of institutions willing to bet on him.
The Dow Jones industrials, the main indicator of the largest financial market in the world, reached the second anniversary to 10526.49 points, or 7.84% below its level in the weekend it was negotiated to desperate the future of an investment bank that for 150 years resisted all crises, including the Great Recession and the
Lehman brothers Fallout.
The S & P 500, which measures the evolution of the 500 largest companies listed on Wall Street, the epicenter of the financial crisis, "is a 10.43% lower, having fallen steadily since September 2008 until March 2009 when hit bottom.

Lehman brothers Fallout

Since then the New York Stock Exchange experienced a year of relative recovery since April 2010 and is maintained, but not without surprises and with the constant fear that the U.S. economy falling back into recession and the
Lehman brothers Fallout..As the New Yorker, many other markets have not regained the level it was before the tumultuous days of September 2008.According to EPFR study linking up this week by The Wall Street Journal since August 2008, investors around the world has withdrawn from the market about 203 000 billion, about 8.5% of all moving at the time.Although many markets are still resentful, some others, especially those of emerging economies have benefited from the hardships they lived the most developed, offering investors an alternative.
Its main attraction is its high economic growth rates (compared with the U.S., Europe and Japan) and its relatively low debt.Other markets that have seen their appeal in the last two years have been the raw material, the quintessential sound investment.For example, gold futures contracts traded over the September 12, 2008-the Friday before Lehman's bankruptcy "is changed to $ 764.5 an ounce in New York and the
Lehman brothers Fallout..
Until then, the highest price that had never been negotiated that precious metal were $ 1,033.9 17 March 2008.In contrast, the eve of the anniversary was trading 66.34% higher one, the record price of $ 1,271.70 an ounce.Investors have been searching and relatively safe nooks where you can leave your money, safe from possible new crisis arising from a hypothetical return to recession and the
Lehman brothers Fallout..This has helped the major stock markets is costing them recover, especially when compared with previous crises.

LehmanBrothers Collapse
Analysts point out now, for example, that two years after the famous "black Monday" of 1987, the Dow Jones was already 20% above its level before the markets around the world collapsed chain.To this must be added the fears aroused by the debt crisis experienced in Europe, the decline suffered by the labor market and real estate in the U.S. and the delay in the promised financial reforms after the fall of Lehman.

Thus, they have taken two years for everyone responsible for monetary matters agreed last Sunday solvency standards of financial institutions known as Basel III, who seek to tackle the bad practices of the financial sector led the financial earthquake of September 2008 and the
Lehman brothers Fallout..Its main novelty is that hardens the capital requirements that must accumulate financial institutions, but its effects will not be immediate, as the G-20 members should review these arrangements at its meeting next November, and in any case, the period for its implementation until 2018 arrives.
Meanwhile, U.S. President, Barack Obama, has managed to get ahead, not without difficulties, the biggest reform since the Great Depression, which allows companies such as dismantling endanger the economy and increase surveillance on the financial system and particularly the derivatives market and the
Lehman brothers Fallout..

martes, 14 de septiembre de 2010

Dollar falls at least 15 years

The dollar fell Tuesday to a new 15-year low against the yen after Japanese Prime Minister Naoto Kan won an election within the ruling party, generating speculation that Tokyo did not take immediate action to stop the advance of its currency .Naoto Kan will maintain his position as prime minister after winning the party internal Ichiro Ozawa, who had been most strident in calling limit the yen's rise.
At 1120 GMT, the dollar fell 0.6 percent to 83.18 yen, after losing up to 83.07 yen on trading platform EBS.
"The market had positioned for a victory Kan, the scope for considerable appreciation of the yen may be limited," said Derek Halpenny, European head of currency research at Bank of Tokyo-Mitsubishi UFJ and the dollar fell .

Dollar Falls

"The downside for Kan (...) is reached only 50.7 percent of the votes of party members. This does not give a sufficiently strong mandate to lead the country and we suspect that once markets focused on this aspect, the yen could weaken a bit, "he said.Still, operators say that a rise in the dollar may be short-lived, with a ceiling of 84.43 yen intraday on Monday considered the first point of resistance, due to the expectation that Japanese exporters sold more dollars before balance sheet for fiscal first half on 30 September an the dollar fell .
"The threat of intervention will be around the market, but will there be international cooperation? Probably not. Then the market will continue to test the determination of Khan," said Simon Derrick, manager of currency research at Bank of New York Mellon.
Analysts said if the dollar falls below 83 yen and touched the 82 units, the risks of intervention would increase dramatically.

Dollar falls at least 15 years

The euro was around session lows against the dollar at $ 1.2830 after the rate of German ZEW economic sentiment fell more than expected in September.
The euro reversed some of its gains on Monday, resulting in positive economic data from China and the relief of the markets following the agreement of the new banking regulations of Basel III.
The market believes that the currency will have a point of resistance at 1.2920 to 30 dollars, a level that has slowed the rise of the currency several times since August.The dollar fell below parity level against the Swiss franc to a nine-month low of 0.9996 francs on electronic trading platform EBS, and played a one-month low against a basket of currencies. and the dollar falls. The dollar index climbed 81.98, rebounding from its 200 day moving average of 81.761.
Market participants expect the publication of data on U.S. retail sales, expected to show an increase of 0.3 percent in August from last month.
A less-than-expected reading could trigger further gains in the yen against the dollar fell .

jueves, 9 de septiembre de 2010

Hang Seng picked up thanks to industrial goods

The Stock Exchange of Hong Kong added 0.37 percent today in the selective Hang Seng, with the signatures of industrial goods and other consumer promotions.
The Hang Seng, benefited by moderate gains on Wall Street, added 78.41 whole, to close at 21167.27, while the afternoon lost in much of what accumulated during the morning session and the Hang Seng picked up .The trading volume, well below Wednesday's stepped back up to 61.861 million Hong Kong dollars, equivalent to about 7900 million dollars, about 6,300 million euros.Three of the four sub-indices ended higher, with the trade and industry which experienced a larger percentage gain, adding up 0.59 percent, equivalent to 67.66 points and stay at 11514.06.

Hang Seng picked up


The financial sub-index closed at 31493.25 points (after rising 0.32%, 100.14 units), the estate ended in 28120.44 (to win 0.23%, 64.74 units), while the services stood at 41953.14 (after dropping 0.46%, 192.66 integers).
Among the components of commercial and industrial sector, Li & Fung rose 5.53 percent, to 42 Hong Kong dollars. China Unicom also rose (3.42% to 11.48) and CNOOC (1.63% to 13.70), while China Mobile, again punished by investors, fell by 1.84 percent, to 77.45 and the Hang Seng picked up.
In the financial sector, Bank of East Asia gained 1.30 percent, to $ 31.25 in Hong Kong. Ping An also rose (1.44% to 70.40) and CCB (0.92% to 6.59). BOC Hong Kong played down a 3.96 percent to 21.85.
Among the components of real estate and construction, Hang Lung Properties added 1.13 percent, to $ 35.90 in Hong Kong, Sino Land won 1.12% to 14.40, while China Overseas slipped 2.22% to 16.74.

The Hang Seng and the industrial goods

Three of the four service components closed lower. CLP Holdings led the declines, with a decline of 0.92 percent to 59.40.
The Hang Seng China Enterprises Index, which groups major Chinese state-owned, registered an advance of 53.74 points, equivalent to 0.46 percent, which stood at 11830.46 integersand the Hang Seng picked up. .

martes, 7 de septiembre de 2010

Euro falls vs dollar, European banking have problems

The euro fell across the board on Tuesday after they revive concerns about the European banking sector, prompting investors to sell high-risk currencies.
The yen and Swiss franc climbed supported in its appeal as a haven, after a report in The Wall Street Journal that highlighted the shortcomings of the evidence of resistance to European banks this year sparking risk aversion.The report is called after the German banking association said on Monday that the 10 largest banks may need 105,000 million euros of additional capital under the new rules and the Euro falls vs dollar.
Fears about the banking sector also increased the yield spreads between sovereign bonds of the peripheral countries of the euro area and the German reference.
The cost of insuring debt of countries like Portugal and Ireland also rose against the moratorium, further reducing demand for the single currency and the Euro falls vs dollar.

Euro falls vs dollar

"At the moment, the news about the German banks and resistance tests weighed on risk appetite," said Sven Schubert, a currency analyst at Credit Suisse in Zurich.
"But concerns about the evidence were already known, so the impact could be short-lived," he added.
At 0933 GMT, the euro was down about 1 percent to a low of 1.27560 day, a decline from a high of 1.2920 on Monday, its highest level in almost three weeks and the Euro falls vs dollar.
"We have seen the correction of the euro since June to $ 1.30 region, and people are worrying about the new negative news in the banking sector in the euro zone in the third and fourth quarters," said Chris Turner, strategist ING.The euro's losses helped push the dollar index, which rose 0.6 percent against a basket of currencies to 82.545, recovering from a fall to its lowest level in more than three weeks on Monday.
Against the yen, the euro was down 1.2 percent to 107.10 yen. The Japanese currency climbed across the board, pushing the dollar to fall 0.3 percent to 83.72 yen, also the Euro falls vs dollar and near a 15-year low of 83.58 reached last month.
Risk aversion also drove the Swiss franc as the euro fell 0.8 percent to 1.2920 francs and the dollar eased 0.2 percent to 1.0128 francs.

jueves, 2 de septiembre de 2010

The European economy accelerated its recovery in the second quarter of 2010

The European economy accelerated its recovery in the second quarter of 2010, driven by strong growth in Germany in that period, which registered the highest GDP growth since the country's reunification in 1990.
However, data published today by the EU statistical office confirmed a two-speed recovery, led by the above-mentioned powers such as Germany, which recorded a rise of 2.2% of GDP, well above the 0.2% lived in Spain and Portugal, or the decrease of 1.5% in Greece, the only European economy remained in recession.

Specifically, the GDP rose 1% in both euro area and in the whole EU, as the first revision of GDP data for the second quarter, which confirms the figures put forward by the statistical office on 13 August and the European economy is accelerated.
This is the fourth consecutive quarter that the European economy is expanding and has done so at a rate considerably higher than the previous two quarters of 0.3% and 0.2%, which confirms the strengthening recovery in the Old Continent.
The European economy is accelerated

Furthermore, the second estimate published today by Eurostat modified slightly upward the interannual evolution of European GDP in the last twelve months increased 1.9% in both euro area and in the whole EU, rather than a , 7% announced earlier and the European economy is accelerated.
The evolution of the previous year quarter also has been changed up to the two areas where the economy expanded by 0.8% and 0.7% instead of 0.6% and 0.5%.
Thus, the European economy performed better than its main competitors, the United States and Japan in the second quarter grew less than expected and the European economy is accelerated.
The U.S. economy expanded by 0.4% (compared to 0.9% from January to March 2010) and the Japanese did 0.1% (from 1.1% the previous quarter), but in terms interannual United States remains ahead of Europe, registering a GDP growth of 3% in the second quarter.
In this improved economic situation in Europe helped the export performance, which progressed 4.4% in the euro area and a 4% across the EU (compared to 2.4% and 2% experienced the previous three months).

European economy increases

Imports also rose 4.4% in the euro area and 4% in the Twenty-seven (after posting respective rises of 4% and 3.6% the previous quarter), while investments increased by 1, 8% and 1.7% respectively, following paths decreases of 0.4% and 0.6% in the previous three months.
Also, households whose behavior improved slightly in the second quarter, whose final consumption increased by 0.5% in both euro area and in the whole EU, after increases of 0.2% and 0, 1% respectively in the previous quarter.Beyond Germany, the major economies of the region also contributed to the good data, to quarterly GDP growth of 1.2% in the UK (Eurostat has amended tenth up its data for that period), from 0.9% in Holland, France 0.6% and 0.4% in Italy and the European economy is accelerated.
However, other countries such as Spain and Portugal had cited more anemic growth of 0.2%, Latvia, and Hungary 0.1%, 0%.
On the negative side stood only Greece, where the recession has worsened, as shown in the quarterly GDP falling by 1.5% due to government spending cuts in place to avoid bankruptcy the country and falling demand.

martes, 31 de agosto de 2010

Southeast Asian stock exchanges closed lower

The stock exchanges in Southeast Asia had a day with negative results motivated by distrust of economic growth, with exceptions such as Thailand.

The Nikkei average sank to its lowest level in 16 months after its sharp fall of 3.55% driven by declines in Wall Street yesterday and a lack of confidence in the measures undertaken to curb the rise of the yen because the Asian stock closed lower..
The Nikkei index lost 325.20 points to 8824.06 units while the Topix index, which groups all the values of the first section, yielded 24.54 points, or 2.95% to 804.67 integersand the Southeast Asian stock closed lower.
The Shanghai Stock Exchange closed the day with a drop of 0.52% due mainly to losses of the securities of insurance companies and brokers.

Southeast Asian stock closed lower

The Shanghai Composite Index (convertible and non-convertible shares) ended its daily trading integers 2638.80, 0.52 or 13.86% less units below the previous asian stock close lower.
The benchmark Stock Exchange of Hong Kong, the Hang Seng lost 200.73 points, or 0.97% after which the whole stood at 20536.49.
Seoul's stock market closed with losses close to 1% yesterday down by the setbacks of the New York market, which particularly affected the technology stocks.The Kospi index of South Korean market fell 17.38 points, or 0.99% to close at 1742.75 integers, while the indicator Kosdaq technology stocks fell 1.38 points, or 0.30% up to 464.71 units.

Asian stock market lower

In Thailand, Bangkok's stock market grew by 3.54 units or 0.39% to bring the SET index in the mark of 913.19 points.In Singapore, the floor of the city-state whole fell 6.73 or 0.23%, which placed the Straits Times Index 2950.33 integersand asian stock close lower.

lunes, 30 de agosto de 2010

Yen rises across the board

The yen rose across the board on Monday after the Bank of Japan announced aggressive monetary easing measures to halt the yen's appreciation in an emergency meeting because he preferred a program only to expand the money supply.
Investors understand the measures as a symbolic gesture that will do little to stem the currency's rally, moving the pressure the Japanese government, for this act if the yen continues to rise.
Japan's currency touched an intraday high against the dollar and euro after the Bank of Japan governor, Masaaki Shirakawa, said after meeting with Prime Minister Naoto Kan that had not made any requests regarding the bank's monetary policy centralHe also declined to comment on recent exchange rate movements, following the escalation of the yen to 15-year highs against the dollar and a ceiling of nine years against the euro reached last week, which some investors took as a green light to continue buying yen.

Yen rises

"At the end of the day, extending the loan program and economic measures are too timid to produce a dramatic reversal in the rise of the yen," said Roberto Mialich, currency strategist at Unicredit in Milan.
Kan said the government will implement measures to help the economy using its reserves budget of 920,000 million yen.
Earlier, Shirakawa said that the monetary policy measures will be tied to the movement of the yen and stock markets, and that the Japanese currency's rally was due to risk aversion.
The extent of the Bank of Japan official comments encouraged investors to bet on long positions in yen, and that the comments were seen as a sign that Japan's foreign exchange intervention is not imminent.
At 1032 GMT, the dollar fell 0.7 percent on the day at least the day of 84.62 yen according to Reuters data. The dollar sank from the roof of the meeting at around 85.90 yen before Japan's central bank announced its decision.

Yen Japan`s currency

"People are betting on new short positions in the dollar / yen, after having reduced their long exposure before the meeting," said Niels Christensen, senior currency strategist at Nordea in Copenhagen.A trader in London said stop loss orders to sell dollars under the 84.90 yen accelerated the fall of the dollar.
The euro fell to about 1 percent to around 107.50 yen. The single currency lost 0.4 percent against the dollar, 1.2700.Apart from the yen exchange movements in Europe had limited due to closure of markets in London for a holiday.
Against a basket of currencies, the dollar slipped 0.1 percent to 82.842, while the dollars of Australia and New Zealand operated little changed against the dollar.

sábado, 28 de agosto de 2010

U.S. stocks closed flat on technical support


U.S. stocks rallied on Friday and closed with its biggest one-day gain in nearly four weeks, to overcome a lower sales warning from chip maker Intel and hawkish comments from Fed Chairman Ben Bernanke.
Strong buying interest from a key technical level and share purchases to cover short sales led the rebound, and the tone improved as investors assessed comments from Bernanke, in the sense that the Fed is ready to act if necessary . Bernanke said in a conference with central bankers that the recovery has weakened more than expected, and the u.s. stocks is closed but the central bank is ready to take further action if needed to stimulate the economy.
U.S. stocks

he Fed chairman downplayed concerns that the U.S. can fall back into recession. "Bernanke found the right tone by saying 'we know that things are weaker than expected, but still think we're going to overcome it,'" said Scott Marcouiller, technical strategist at Wells Fargo Advisors. the big problema that was generate the u.s. stock closed caused Intel Corp a momentary low in the major indexes to announce that its third-quarter sales may be over 1,000 million dollars under its provisions. However, u.s. stock closed and the chip maker's shares rose 1.1 percent to $ 18.37, after falling more than 15 percent since late July. The Dow Jones industrial average rose 164.84 points, or 1.65 percent, to 10150.65 points. The Standard & Poor's 500 Index gained 17.37 points, or 1.66 percent to 1064.59 points.

U.S. stocks closed

The Nasdaq Composite gained 34.94 points, or 1.65 percent, to 2153.63 points. For the week, the Dow Jones lost 0.6 percent, the S & P 500 fell 0.7 percent and the Nasdaq fell 1.2 percent. Both the Dow and the S & P 500 chained his third straight week of losses. The market and u.s. stock closed and had begun to rise, by a report of economic growth in the second quarter, but was revised down was better than expected. The debate over whether the economic recovery is losing momentum or the country is headed for a relapse into recession pressured the market. Actions that benefit most from the strength of the economy were among those who led the increases. The roles of heavy equipment maker Caterpillar rose 3 percent to $ 65.9, and those of Boeing gained 3 percent, to $ 63.16 and the u.s. stock close.

viernes, 27 de agosto de 2010

Wall Street falls on fears for economy

 U.S. stocks ended lower on Thursday and the Dow Jones industrial average fell below 10,000 points for the first time since early July, pending a revised report of economic growth in the second quarter and Wall Street falls.
The market is also aware of a speech he will give the Federal Reserve chairman, Ben Bernanke.Shares of big tech companies were among the biggest losers and the Nasdaq fell more than the Dow and the S & P 500.
Technology shares have been regarded as a barometer of economic growth. Shares of Cisco Systems fell 2.4 percent to $ 20.70, while Intel's stock slid 1.6 percent to $ 18.18 and Wall Street falls.
Stocks initially rose by data that showed initial claims for jobless benefits fell more than expected last week, but the number was still too high to show a change in the labor market.

Wall Street falls

The four-week average of initial claims, considered the best measure of trends, rose to the highest level since late November.
"The best thing you can say the optimists is that recovery is stabilizing, is no longer accelerating," said Linda Duessel, market strategist at Federated Investors."We think this is a soft patch and not a relapse into recession, but the market is setting the price and more for a relapse," he added.The Dow Jones industrial average lost 74.25 points, or 0.74 percent to 9985.81 points. The Standard & Poor's 500 gave up 8.11 points, or 0.77 percent to 1047.22 points. The Nasdaq Composite Index fell 22.85 points, or 1.07 percent to 2118.69 points.
It was the first time since July 6, the Dow closed below the psychologically important level of 10,000 points. From that time the market rebounded and chained seven consecutive sessions of gains.In his Friday speech, Bernanke may discuss the outlook for the economy, but is not expected to provide clues about whether the U.S. central bank will inject more cash into the economy to sustain ongoing recovery and Wall Street falls.
After the recent string of dismal economic data, there are fears that the GDP figures to show that the economy is weaker than originally thought.
It is expected that the reading of the Government is in a growth of 1.4 percent, below the 2.4 percent estimated a month ago.Estimates range from a range of 0.9 to 2.2 percent, according to a Reuters poll.
In the technical picture, investors are still looking for the level expected of 1,040 points on the S & P acted as a support. Some consider that a drop below that level would be a buying opportunity, as seen on Wednesday when the benchmark index briefly lost.In deal news, Dell Inc raised its bid for the data storage company 3PAR Inc. to $ 1,600 million, slightly higher than the rival Hewlett-Packard Co.
HP has released a revised proposal after the closing bell, sending a rise of 7.2 percent, to $ 27.90, the shares of 3PAR in electronic trading and Wall Street falls.
HP shares closed down 0.1 percent to $ 38.22, while Dell fell 0.3 percent to $ 11.75.