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.