The rise in food prices fell to 44 million people in poverty

The increase in food prices, close to record levels of 2008, amounted to 44 million people in developing countries under the poverty line, according to a report released Tuesday by the World Bank (WB).World Bank President Robert Zoellick, has called the situation "dangerous" and has urged the leaders of the G20 that will meet within a few days in Paris to consider the issue of food as an issue "fundamental" to the agenda .
According to the latest World Bank report, the global food prices have risen by 15% between October and January, which means 29% more than last year.
"The rising prices are pushing millions of people into poverty, especially the most vulnerable who spend over half their income on food," said in conference call Zoellick the  expensive food and the poverty people..

Poverty people in the Word



World Bank chief stressed that the "increased price volatility due to higher inventories and increased demand, and compounded by the adverse weather conditions," the issue of food can turn into a "big problem."
Foods that have shown an increase is particularly wheat, which has doubled in the last six months, and corn, which has soared 73%, or sugar, which has increased more than 20% the  expensive food and the poverty people.
However, the WB has indicated that the moderate behavior of the prices of rice, whose prices have risen at a slower pace, has kept the number of people who have crossed the poverty level is lower.

The agency has acknowledged that the rise in prices caused 24 million people out of poverty due to higher revenue, but stressed that those affected by this rise was more, 68 million people, leaving the net 44 million people living below the poverty line.

The WB puts the poverty threshold income of less than $ 1.25 a day and the  expensive food and the poverty people..

The World Bank has recommended measures to mitigate the effects of this sharp increase "the extent of food security programs, the removal of export restrictions and reducing the use of biofuel

Food and poverty people

Zoellick has not linked this rise in prices in the recent protests in several Arab countries like Egypt and Tunisia, but has acknowledged that failure to address the food crisis "could be used to increase pressure on fragile political systems and join the grievances. "
For its part, the nongovernmental organization Oxfam has highlighted the speculation as a major cause of the rising price of food.

"The global grain stocks are still relatively healthy. Circumstantial evidence points to speculation as responsible for this crisis in food prices," said Luc Lampriere in a statement, a spokesman for Oxfam.The nongovernmental organization Oxfam urged the leaders of major economies in the world, will gather in Paris to take action on rising prices before they escape the reach of the poorest.

"If you earn $ 20 an hour, the high prices will end up affecting your pocket. If you win $ 20 a month, this price increase can mean the difference between eating or not, has ruled Lampriere.

The EU wants the big banks are more controlled

The European Union wants to give national regulators more power to limit the risk of banks deemed "too big to fail" as part of its plan to protect the public finances of future financial crises.
In particular, the EU is looking for supervisors, as the Bank of Spain, new products may block, restrict the claims or force these banks considered systemic to leave some businesses, according to a draft proposal cited Bloomberg.

In Spain, one such regulation would affect at least Santander and BBVA, the two entities considered "at risk of systemic spread to other entities for its large size if they have problems-for the G20 last November and the EU Banks controller .

EU Banks controller

National banking regulators could require "a change of legal and operational structures" to entities that need "extraordinary financial aid"during a crisis, says the specializing in economic data.

"They are saying clearly between the lines that if you believe that any institution is too risky to be rescued could be segregated, "says a legal expert in financial regulation at Bloomberg and the EU Banks controller .Depending on the environment, it is expected that the European Commission to present this draft, which is dated in December, this week. Later, you hear the view of banks, consumers and investors before submitting a final proposal to discuss with the 27 EU members this year.
European countries have had to spend more than $ 5 billion -3.7 billion euros to help banks since the financial crisis that erupted with the collapse of Lehman Brothers in 2008 and the EU Banks controller .

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.
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Russia calls on Germany to help it modernize its economy

Russian President Dmitri Medvedev on Thursday called on German companies to become more involved in modernizing Russia's economy, during a visit by German Chancellor Angela Merkel to strengthen bilateral cooperation.

Merkel took second visit to Yekaterinburg (in the Urals, central Russia) is clarified to require the murder of Russian activist Natalia Estemirova human rights, perpetrated a year ago and had shocked the world.

But the economy was the main focus of the interviews between the two leaders, regardless of the "Petersburg Dialogue", a discussion forum devoted to the development of bilateral relations, especially trade.

"I hope that German companies have long experience in this field in this endeavor" of modernization in Russia, said Medvedev told businessmen from both countries, highlighting the restructuring of companies in Germany after the reunification of the country in 1990.

Medvedev invited German companies to invest in Russian companies, which have so far low foreign participation.

"I hope that German companies involved in the modernization of the companies which are interested in, considering my decision to reduce the number of strategic companies," he said.

Medvedev announced in June that the number of Russian companies deemed "strategic", and in which the state was obliged to hold a stake would be reduced by 80%, opening the door to greater foreign participation in the Russian economy .

"Given the association strategy in the economic area, I think the prospects in this area are not too bad," Medvedev said on the other hand, Merkel met for the fifth time in so far this year.

The "strategic alliance" between Russia and Germany should include railways, aviation and energy industries, according to the Kremlin.

These agreements include an agreement between the Russian railway company RZD and the German industrial group Siemens, for a total of 2,800 million dollars and the delivery of 200 regional trains.

Merkel traveled to Russia together with 25 large German companies as part of a tour that will continue in China and Kazakhstan.

Germany is Russia's largest trading partner, and both countries are partners in the Nord Stream pipeline project, which will unite under the Baltic Sea and will supply Russian gas to Europe.

Brazil stocks, currency fall with external spaces after U.S. data

The bag and Brazil's currency fell on Wednesday, affected by external mood after disclosure worse-than-expected U.S. retail sector. The benchmark index of the Bolsa de Valores de Sao Paulo, the Bovespa, lost 0.32 percent to 63479.46 points, which returned some of the gain of 1.15 percent on Tuesday.

The financial remittance of the session was 4,700 million reais (U.S. $ 2.664 million), below the average of 6,500 million reais verified so far this year. July was the month with the rotation of the Bovespa in the year, with an average of 5,100 million reales to the 13th. In May the busiest month so far this year, the average transaction amounted to 7,300 million reais. "Today the market continued movements outside a lot," said Newton Rosa, chief economist at SulAmérica Investimentos.

"The outside was very volatile. At one point (the influence) came from the results of companies such as Intel, which led the market in the morning. Then reported retail sales data (U.S.), which were lower than expected by the market, "he said. The U.S. retail sales fell 0.5 percent in June, more than expected.

Later, the Fed revised downward the estimate of economic expansion and projected growth of gross domestic product (GDP) up 3.5 percent in 2010. In the local market, shares of mining company Vale lost 0.65 percent to 38.30 reais, while Petrobras oil company closed about stability, to 27.30 reais.

The titles of the steel industry were the most influential in the fall of the index, most notably those of the Usiminas steel plant, which tumble down 3.08 percent. Some of the titles were the biggest gainers of local retailers, such as Lojas Renner, which jumped 4.47 percent.

The real, meanwhile, has depreciated 0.63 percent, affected by external suspicion after the release of the fall in U.S. retail sales.

The real closed trading at 1.762 / 1.764 per dollar in the interbank market, then recovered 0.68 percent on Tuesday. Globally, the dollar fell 0.34 percent against a basket of reference currencies. ($ 1 = 1.764 reais)

World's richest man buys gold mine

Carlos Slim bought a mine Goldgroup Mining

The Canadian mining company Mining Goldgroup selling sales reported to Frisco, part of Grupo Carso (owned by Carlos Slim), El Porvenir project for U.S. $ 25 million.

The same is a gold project and is located in the Mexican state of Aguas Calientes.

It should be noted that Carlos Slim is the richest man in the world with U.S. $ 53.500 billion, according to Forbes magazine.

Oil touches the 78 USD pushed by falling U.S. crude stocks

Oil prices neared the $ 78 threshold on Wednesday, boosted by the announcement of a major lower-than-expected crude stocks in the U.S..
Around 1600 GMT, a barrel of North Sea Brent for August delivery traded at $ 77.44, up 79 cents on Tuesday's close.

At the same time, the West Texas Intermediate (WTI, designation of "light sweet crude traded in the U.S.) for July delivery rose 75 cents and stood at $ 77.90 on the New York Mercantile Exchange (Nymex).
After a break in the morning, oil prices continued on Wednesday with their progression in line with the increase of more than two dollars on Thursday.

Black gold prices were boosted by news that U.S. crude stocks fell for third consecutive week as announced by the Department of Energy (DoE).
Crude stocks fell 5.1 million barrels (mb) to 353.1 mb in the week ended July 9. Analysts surveyed by Dow Jones Newswires forecast a decline of only 1.2 mb.

By contrast, gasoline stocks rose 1.6 kb to 221.0 kb, where analysts expected to hold steady, held back a stronger rise of crude oil.
For analysts at Barclays Capital, the surplus stock that remains in the U.S. and Europe should decline rapidly, thanks to a progressive rapprochement between supply and demand.

Therefore, "the prices should go up," estimated, adding that the WTI in New York could reach $ 84 the smear in the third quarter and $ 87 in late 2010.

U.S. shares rose slightly after Intel results

Investors also awaited a statement from the Federal Reserve later on Wednesday about the outlook for the U.S. economy.The negative figure of the day was that U.S. retail sales fell for the second month in June dragged down by weakness in auto dealerships and gas stations, a reminder that the economy continues to face problems.

Other data showed that U.S. business inventories rose 0.1 percent in May, slightly less than the 0.3 percent increase had been expected.
Shares of Intel, a Dow component, climbed 3.57 percent, a day after reporting better than expected results.

Its figures allayed fears of a slowdown in business spending on technology.
'The gains have been much better than expected, but weak sales suggest that people expect a slowdown in the second half, said Bruce Bittles, chief strategist at Robert W Baird Nashville.

The Dow Jones industrial average rose or 0.32 percent, at 10396.24. The rate of Standard & Poor's rose 0.31 percent to 1098.72 and the Nasdaq Composite index advanced 0.79 percent, to 2259.85.
The Fed's economic forecast will be released along with minutes from its latest monetary policy meeting.

Some officials estimate that the Fed will cut forecasts for U.S. economic growth, in line with recent reductions in Wall Street economists.
"It is problematic if the Fed is concerned about the slowdown in the second half of the year, but profits have been removed from the scene a second recession, which was on everyone's lips, creating a deep pessimism," said Bittles.

The EU decides to limit bonuses of bankers and brokers

The countries of the European Union (EU) and European Parliament reached an agreement to limit next year from premiums brokers and bankers in Europe, the excessive amounts caused a controversy during the financial crisis, said Wednesday the European parliament .

This agreement provides that brokers will in future receive 60% of variable pay (bonuses) immediately, and "a substantial part of at least 40%," after a period of at least three years, so taking into account the long-term risks, according to the text of the agreement.

"The European Parliament hopes that the agreement will provide tough and effective rules that will cover all premiums made or paid after 2011," the institution said in a statement.

New strike in China affects Toyota supplier

A strike at a parts supplier for Japanese cars in southern China forced Toyota Motor Corp to suspend production at an assembly plant on Tuesday, the latest in a series of interruptions on labor issues in foreign manufacturing in the country.
Since Tuesday morning, is suspended work at the Toyota plant, which has an annual capacity of 360,000 units and which makes models such as Camry and Yaris, said a company spokesman.

"No decision on when production will resume," said Toyota spokeswoman, Ririko Takeuchi.

The auto parts supplier, Denso (Guangzhou Nansha) Co. Ltd, is owned by Japan's Denso Corp, and is affiliated with Toyota Motor Corp.
The strike at the Denso plant, located in the booming Chinese province of Guangdong, is the latest in a series of industrial actions in the country that present a complex challenge for the Communist Party government, which has pledged to improve revenues, but he has fear of protests.

The plant supplies fuel injection equipment and other products to customers such as Toyota and Honda Motor Co and has stopped sending parties since Monday, Denso spokeswoman, Yoko Suga.

Honda spokesman in China, Takayuki Fujii, said that if the cessation of production stood at Denso, also could end the inventory on suppliers of parts for Honda auto factories.
In recent weeks, strikes have broken out in a Honda supplier of locks in Gosei plant that makes parts for Toyota, and in Chongqing Brewery Co Ltd, among others. All have been resolved.

STRIKE will be maintained

The cessation of activities continue for the rest of the week, said a worker in the flat Denso, adding that employees are demanding a salary hike of between 1,100 and 1,300 yuan (161-191 dollars) per month between 1800 and 1,900 yuan.
"We have a good life here, but we believe that our pay should be linked to company performance," said one employee, who declined to be named for fear of reprisals. "The company makes a lot of money and should share the profit," he added.

The direction of the Denso plant was negotiating with the workers' demands for higher salaries and better benefits, Suga said. The firm has about 1,100 employees.

Swiss National Bank considers "fragile" situation of UBS and Credit Suisse

 The Swiss National Bank (SNB) held today in its latest financial stability report that the situation of the two largest banks, UBS and Credit Suisse, remains "fragile" despite the "significant growth" of their allocations to funds own.

This increase in allocations has been particularly notable in the case of UBS, which declined in 2009 to 7 per cent exposure to equity markets, one of the main risks facing the Swiss bank, according to the monetary institution Switzerland.

By contrast, Credit Suisse rose 17 per cent exposure to equity markets last year.

The BNS highlights both entities decreased in 2009 to 20 percent of its total lending, although they improved their quality.

Regarding the first quarter of 2010, the Swiss central bank considers that the "uncertainties are still present," which for the two largest banks translates into an increased risk.

Therefore, the SNB said that the new capital requirements required of the large Swiss banks are "necessary", while admitting that they are "elevated."

The prospect of profitability for the sector remains limited by as much as, according to the monetary institution, even despite the fact that UBS has returned to profitability in its latest quarterly results.

The Swiss central bank stressed that UBS and Credit Suisse have indirect exposure to Portugal, Italy, Greece, Spain and Ireland 60 300 million Swiss francs (43.416 million euros)

German confidence index fell in June for fear debt Europe

The analysts and investor confidence in Germany fell in June to its highest level since the start of the financial crisis in 2008, hit by concerns about debt problems in the euro area. The survey found Germany ZEW research center, based in Mannheim, fell more than expected to 28.7 from 45.8 in May, their worst drop since October 2008. The forecast in a Reuters poll of analysts pointed to a dip to 42.0.
"The ZEW index illustrates the uncertainty of the current sovereign debt crisis and the latest market turmoil that has generated," said Carsten Brzeski at ING Financial Markets. "The rescue package from euro zone and the latest European Central Bank's measures to support the bond and currency markets was not yet sufficient to stabilize confidence," he said.
A separate indicator of current conditions rose to -7.9 from -21.6 in May, according to the ZEW survey of 279 analysts and investors held between 31 May and 14 June. He had expected a reading of -15.0. "The prospects are much more volatile than a month ago despite an improvement in the economic situation," said economist Peter Westerheide ZEW.

Euro rises vs dollar, plus reduced risk appetite for short bets

The euro rose on Monday as an improvement in the attractiveness of risky assets and the dollar hitting attack triggered a short hedges in the single currency, away from their recent lows of four years.

European shares rose sharply after rising in Asia. The U.S. stock futures were up 0.7 percent.

"The dollar was weaker overnight against the euro on the stability of the trust, which helped the currency recover more risk," said Geoffrey Yu, currency strategist at UBS.

"Equity markets globally are performing strongly, especially for supporting the expectation that the relatively expansionary policy will be maintained for a prolonged period globally," he added.

At 1115 GMT, the euro was up around 1 percent against the dollar at $ 1.2231, after touching an intraday high of 1.2258, according to Reuters data.

European shares gained 0.8 percent in early afternoon trading.

But analysts said it was unlikely that the recovery of the euro would take it out of its downtrend, as the structural problems in the euro area, which have impacted the currency has not changed.

"We've seen a good session for stocks. This is favorable to risk, driven by higher-yielding currencies like the Australian dollar. But fundamentally, nothing has changed against the euro," said Kenneth Broux, market economist at Lloyds Banking Group.

Traders said hedge funds have been reducing their short positions on a level of 1.2150 / $ 60 in Asia and across the 1.2220 in Europe.

The euro has lost 15 percent against the dollar so far this year, but gained 1.6 percent last week after hitting a floor of $ 1.1876, its lowest level since March 2006.

Some commented that the appetite for risk was also supported by the authorities such as the chairman of the Federal Reserve Bank of St. Louis Federal, James Bullard, who said he is running a strong global economic recovery.

The Australian dollar advanced almost 1 percent against the dollar to more than 0.8600, its highest level in a month.

The euro was up 1.4 percent to more than 112 yen for the first time in a week.

The dollar fell more than 1 percent against a basket of currencies to 86.446.

Analysts said the dollar could be undermined by so-called U.S. President Barack Obama and his advisers for more incentives to support the economy.

The pound sterling was up 1.2 percent against the dollar at $ 1.4718.

European shares at maximum of four weeks for the banking

European shares reached a maximum of four weeks late on Monday after a strong industrial production data in the eurozone to revive the optimism in the economic prospects of the region, while the insurer AXA rose on news that talks to sell British assets to Resolution.
At 11:43 GMT the pan-European FTSEurofirst 300 index rose about 1 percent to 1027.40 points, stringing together four consecutive sessions of gains.

The benchmark is down 7.5 percent since mid-April, when intensified rumors that the Greek debt crisis would plague other countries in the euro zone and slow global economic recovery.
"The titles have become a bit cheaper (after recent falls) and everything was a bit oversold," said David Bulk, senior partner at BGC Partners.

"The second quarter results will be somewhat better than people expected and could be run at current rally"

Banks were among the players on the rise. Barclays, HSBC, Société Générale, BNP Paribas and Deutsche Bank advanced between 0.9 percent and 2.6 percent.

The volatility index VDAX-NEW, principal Eurobarometer to measure the anxiety of investors, fell 4.1 percent to its lowest level in a month, which highlights a greater appetite for risk.

Regarding the evolution of specific values, AXA amounted to 3.4 percent after it confirmed it was negotiating to sell its life insurance business in the United Kingdom to Resolution Group in a deal valued at 2,750 million pounds.

Improve overall employment forecasts: Manpower

Today it is more possible for employers to hire employees three months ago, even in the U.S., but the greatest advances are limited to booming emerging economies like Brazil, India and China, according to a quarterly survey by Manpower Inc. Measuring Manpower, considered an important indicator of labor demand, suggesting that the recovery in employment will continue in much of the world, but that employers remain cautious. In the U.S., large-scale creation of jobs is unlikely in the coming months.

The leading global staffing services said Tuesday that its seasonally adjusted net forecast for the United States was over-6 for the third quarter, slightly up from plus-5 in the previous measurement. A year ago the prognosis was negative.

The rate of Manpower, based on interviews with 18,000 U.S. employers, measures the difference between those who plan to add jobs and those who are hoping to cut. About 70 percent reported no change in its outlook, maintaining a recent trend shows that many employers still are not convinced about the sustainability of the current economic rebound. "We entered the third quarter and we see more of what came in the second (...) figures are improved by the Office of Work Statistics (BLS, for its acronym in English), but not enough to feel that we have left the problems, "said Manpower CEO Jeff Joerres.

The BLS reports monthly employment figures and on Friday said it added 431,000 jobs outside the agricultural sector in May.

This was much less than expected, and growth in private sector payrolls was also lower than expected. Among the upbeat economic signs include a purchasing managers index (PMI, for its acronym in English) indicating a recovery in the manufacturing sector, said Joerres. But U.S. employers can meet aggregate demand with existing work force and will resist to add new employees until they see credible evidence that demand is sustainable.

"To get that evidence, we might have to wait until the first quarter (of 2011)," Joerres said, noting that employment in the seasonally weak fourth quarter. The executive described the pace of recovery of jobs in America as "still very warm." BRAZIL, INDIA AND CHINA, WITH BEST QUALIFICATIONS Measuring Manpower hiring intentions, based on 61,000 interviews, found better job prospects in 23 of 36 countries and territories compared with the second quarter and all but four improved over the same period a year ago. The strongest potential recruitment meet again in the emerging economies of Asia, including India and China, where companies enjoy strong demand from both local and foreign.

The hiring outlook in China is the strongest since Manpower began surveying employers five years ago, while that of India rebounded to a maximum of two years.

In Latin America, most employers in Brazil anticipate the amount of staff. Mexico can also expect a better environment for recruitment, especially in manufacturing and mining, but the prognosis worsened in Argentina. In Europe, the weakest hiring plans in the third quarter were reported in Italy, Ireland, Spain and Greece, while employers in the major economies such as France, Germany and Britain, are willing to add more workers in next 3 months.

Measurement of Manpower for the third quarter was made before a debt crisis in Greece lead to a European rescue plan nearly a trillion dollars. But Manpower internal data suggest that the crisis has had a limited effect on the confidence of European employers. U.S. Measurement Manpower began performing in 1962, but has a more recent history in other countries.

The Milwaukee-based company has a presence in 82 countries and generates most of its sales and profits outside the United States.

Yen and dollar fall, euro rises on worries about Greece

The yen and the dollar fell on Monday against the euro and high yielding currencies, as a jobs data better than expected U.S. on Friday and an easing in concerns drove the Greek debt investor demand for the risk.

The euro gained after encouraging remarks from key monetary authorities on the problems of debt in the euro zone. French President Nicolas Sarkozy vowed on Sunday that euro zone countries would help to Greece if they worsen their financial problems.

However, Managing Director International Monetary Fund, Dominique Strauss-Kahn, told Reuters it was unlikely that Greece's financial problems will spread to other euro area countries with high levels of debt.

Trust is kept up after a data on Friday showed job losses were less than expected, raising the view that the U.S. may be about creating jobs and affecting considered a refuge currency like the dollar and the yen.

"Greece is taking a breather from a market perspective, while the appetite for risk is driving the market. This gave the euro a bit of renewed support," said Niels From, analyst at Nordea in Copenhagen.
At 1049 GMT the euro was up 0.2 percent at $ 1.3642. Traders said that the level of short-term resistance was close to 1.3712, its highest March 4.

The dollar index was down 0.1 percent at 80.355.
Against the yen, the euro gained 0.2 percent to 123.25 yen, after hitting a two-month 123.80 yen on electronic trading platform EBS earlier.

BBVA expanded capital to cover losses from its U.S. subsidiary

The heavy losses suffered last year by the U.S. subsidiary of BBVA Spanish forced the agency to carry out two capital increases amounting to 711 million euros to guarantee the solvency of its American bank.

Sources of soccer's governing body to Francisco Gonzalez admitted that the decision to reorganize the stock of BBVA Compass eroded capital ratios and had to replenish its own funds, which were entirely produced by the array.
However, a bank 100% owned by the parent, there is no obligation to notify immediately.
The capital increases were carried out late last November. That is, it was at that moment when the BBVA acknowledged the problems of its subsidiary and became determined to mitigate and to replenish themselves consumed by the hole.

However, these losses are not acknowledged publicly until two months later, when the annual results presentation acknowledged a breach of 1,071 million euros.

And it took two capital to cover losses has not been disclosed to the distribution of the annual report that the entity is required to publish before the shareholder meeting, which will take place on March 12.

During 2009 the BBVA in the United States suffered losses from the impairment of financial assets (resulting from late payments) amounting to 1,419 million euros, while 1.056 million were devoted to other provisions.

In the fourth quarter of the year was when there were 533 million special sanitation and another 998 million charge for impairment of goodwill.

These allocations allowed to keep the coverage rate of BBVA Compass at 57%, although delinquencies soared from 3.4% to 5.2% in the year to update the loan portfolio related to real estate, one who has suffered the crisis in the U.S. too.

There was also much more marked deterioration at the end of 2009. Excluding extraordinary write-downs between October and December BBVA Compass lost 122 million euros, when he had won 40, 42 and 20 million in the first three quarters.
The complicated situation in the U.S., home of the financial crisis that began in the summer of 2007, is reflected in other sections of the balance of BBVA.

The second Spanish bank has an exposure of 513 million in assets considered garbage (subprime), plus another 13 million in structured products linked to toxic.
The first of the entries got fat at 22 million euros over last year, while the structured bonds fell by 13.

United States is one of the major axes of BBVA's growth in the future, along with its bid to China.

Lufthansa lost 112 million euros in 2009 compared with a profit of 2008

German airline Lufthansa in 2009 suffered a loss of 112 million euros (151 million), compared with a profit of 542 million euros (731 million) in 2008.

Lufthansa, which advanced the publication of results scheduled for March 11, adding that last year sales fell 10 per cent to 22,300 million euros (30.105 million dollars), compared to previous year's figures.
The first airline in Germany by 2009 called "difficult year".
Lufthansa's operating profit fell in 2009 to 130 million euros (175 million), ten times less than in 2008 (1,300 million or 1,755 million dollars).Due to this poor performance, the management of Lufthansa recommending no dividends this year.
In the Frankfurt stock exchange, shares of Lufthansa rose 3.3 percent to 11.47 euros, after unveiling the results.

BNP Paribas reduces its participation in Banco Santander to 2.49%

The French bank BNP Paribas has reduced its holding in Banco Santander of 3.12 percent to 2.49 percent, as recorded in the records of the Commission Nacional del Mercado de Valores ( CNMV) today consulted by Efe.

With this divestiture, the balance of the portfolio itself BNP Paribas has gone from 0.96 to 0.25 percent, while for third parties has increased to 2.23 from 2.16 percent previously.

At 1300 hours the Santander shares were traded at 9.73 euros, or 1.85 percent more than that marked the end of last week. MarketWatch mbr / mdo

The German economy is stagnating and France is growing

The two countries have emerged as saviors of Greece ended 2009 with a fall in growth never seen before.

The GDP of France recorded the largest fall since the war, after falling 2.2%. The German scored the worst recession in U.S. history, contracting by 5%.

And what's worse for the German economy. In the last quarter, GDP stagnated. In this period, the Gross Domestic Product (GDP) grew from the previous quarter, when it rose by 0.7%, according to federal statistics office, Destatis.

The German Central Bank (Bundesbank) predicts that the economy registered a growth of 1.6%, one tenth more than expected by the International Monetary Fund (IMF).

However, between October and December showed the French economy grew active and triple that in the previous quarter, to increase GDP by 0.6% according to the National Statistics Institute, INSEE.

The household consumption and changes in stored products companies were the main contributors to gross domestic product growth in the fourth quarter.
European growth slows

The economic downturn has not affected only France and Germany, but also marked the evolution of European Union countries and the Eurozone in the year 2009.

Gross domestic product (GDP) in the EU fell 4.1% last year, while in the euro area fell by 4%, according to data provided by Eurostat statistics office in Luxembourg.

In the last quarter of 2009, GDP in the euro zone rose 0.1% over the previous quarter, and fell three tenths below the growth recorded in the third quarter (0.4%).