Report of US financial losts for 2008
2008 was the last U.S. citizens brought losses of 11 trln. dollars, the data show the Ministry of Finance in the U.S. The amount represents about 18 percent of the overall situation of households in the country. First year of recession showed that total losses of U.S. families are most golemite of World War II. The housing crisis and the failure to be paid mortgage loans, along with declining stock market are the main reason for the reduction of the total equity of households. Reduction of the total equity of households happened primarily because of housing crisis and the collapse of prices of real estate, but also as a result of declining stock market. Despite these data, recently published in Forbes ranking shows that 45 percent of the richest people on Earth live exactly in the USA. They are owners of more than 40 percent by the billionaire, but measured 2.4 trln. dollars.
Labels: Business News, Financial News
Japan will give 5 billions USD for ecological projects
Japanese government will allocate 5 billion dollars to developing countries for various environmental projects delivered according to the Reuters Nikkei busines daily. Among the initiatives that will promote Tokyo are building Voltage electrical installations, water treatment plants and others. Leave will be administered by the Japan Bank for International Cooperation, which will be awarded in the next two years a number of private investors in the country.
The aim of the Japanese government is to assist developing economies in the construction of various projects, including improving public transport in major cities, thereby reducing carbon dioxide emissions. The Agency points out that many have turned to American and European financial institutions to implement such projects, but the treasury has rejected them after the start of the crisis.
Labels: Financial News
United Technologies will relieve 11 thousand emplyees
The largest producer of air conditioners and elevators in the world, United Technologies announced it will cut 11 thousand, or about 5 percent of staff as no longer expected economic recovery this year, transmit Reuters. What we expected to happen in the second half of 2009 now seems delayed further in time, said Lewis sacking, Executive Director, based in the U.S. state of Connecticut company. Agency recalls that in December 2008 the total number of employees in the corporation reached 220 000. Release of the workforce, among other measures, restructuring costs of United Technologies about 750 million dollars this year. They will be partially offset by two one-off revenues, respectively 200 million and 350 million dollars.
The company, which produces more helicopters and jet engines, announced lower expectations for earnings this year by 2 billion dollars to 55 billion dollars. News about reducing the cost of United Technologies was taken positively by the market, its shares rose by 5.7 percent to 39.70 dollars in early trading on the New York Stock Exchange.
Labels: Business News
Bernanke: USA economy still did not reached the bottom
Ben Bernanke sees little reason to believe that the trend of economic weakening has reached bottom. In its report to the Senate Budget Committee today, chairman of the Fed said that the package of fiscal incentives should increase demand and contribute to job creation. But at the same time warned that the huge budget deficit should be rapidly limited as soon as you restart economic growth.
According to him, as despite the monetary and fiscal measures, there is still "considerable pressure" on financial markets and the signals for reversing the negative trend is too small. Bernanke reported worsening situation in the labor market and a decline in business investment in recent weeks, however he thinks that already undertaken by the government and the challenges to be taken will lead to a return to strong economic growth
Labels: Financial News, Politic News
