Financial and Business News

Google throw new market glove

2009-04-24T03:51:00.000-07:00

California-based Internet company has long ahead Yahoo Search and Microsoft in online searches Google to challenge their competitors. Some time users most powerful search engine, even in experimental form, can use two very useful services - Google Similar Images and Google News Time Line. They facilitate access to information and illustrative data, which, prior to use two innovative products reach more slowly and the structure of the information base would present organization. With the first product Google Similar Images (like images) can be found on a criterion that image that you need. Google News Time Line will facilitate those who seek information on a particular topic. They will receive lists of articles, photos and videos, which are arranged by date and the results will be able to narrow to specific news sources, journals or blogs.
"Traditional search by keyword at the moment and the foreseeable future will remain the most used and popular on the internet because it is a very effective mechanism by which someone asks a question and receive relevant answers. They are most directly responsible put question, explains the effect of new products RJ Pitman, product manager of the California technology company. In his new methods to meet the increased "appetite" for a more adequate and refined search in real time. "We are far from daring to do predictions on how the presented systems will change the Internet search, but we are confident that Google Similar Images and Google News Time Line have the potential to do so, specify Pitman. The words of the product manager of Google gives a clear signal despite constantly growing market share of the company in the world will continue to throw gloves market competitors, and relies on innovative products to offer more and varied opportunities to our users. Reasons for such a strategy gives the statistics. online searches carried out by U.S. Internet users in March, amounted to 9.523 billion, or about 3555 per second, the calculations show the research company Nielsen. Compared to the same month of last year the number of applications completed in the fields of search engines, grew by 16.7 percent on an annual basis . No surprise first in market share is Google, whose search engine is in made 6.114 billion queries, or 64 percent of the total volume of inquiries.
Second is the search engine ranking in Yahoo Search. In manufacturing program have 1.505 billion queries that take leadership positions in the company. Yahoo Search currently has market share in Internet search in the USA by 15.8% with 18.5% in March 2008. Third place remains for the various gates of Microsoft. Nielsen data shows that the demand by the platform software giant has risen only 0.3 percent to 982.661 million units, a company's market share declined by over 2 percentage points to 10.3 percent.

How both services work
Similar Images lets write a keyword into the search box to be brought out like the familiar search far different images associated with that word. If the word is "church" after the first click on the button "search" will appear sanctuaries of different civilizations and religions - May, Hindu, Ancient Greek, Roman Catholic, Orthodox and others., All done graphically. When selecting one of these temples system automatically eliminates all other associations and is directed only to the ancient Greek sanctuaries, which appear in the upper right corner as an election. The system is useful when looking for more photos of people in different way - for example a known actor or actress. Search only in name initially suggested images from films, from awards ceremonies, etc. paparazzi pictures. Choosing one of these options in the upper right corner appear photos related solely to her. At this stage, as the system is still at an early stage of development, there is weak or almost no maintenance of the database of images that can be found by keyword Cyrillic.
In the words of radical Malpani, who heads the engineering team at Google, the purpose of new product Similar Images is to cover all the publicly available images on the web in the coming months and years. Another innovation Google News Timeline represents the optimization of existing and news now in search of news.google.com. The goal is to more easily find materials that are arranged chronologically to the date of demand. For some materials there is evidence based with hundreds of years ago. The system was developed by Andy Herzfeld, who was one of the leading figures in the creation of the Macintosh platform to Apple. "When a user searches on the results of football matches or the war in Iraq as he receives a text, photo, video and audio-information, arranged in front of his eyes day by day" fix Herzfeld during the presentation of new products. Search can be limited and to a magazine, journal or blog.
Along with two new products the company update my site Google Laps, where consumers already can see on what thousands of software engineers working on search engine. "The goal is development to get in early to the general public, which if desired can write comments and recommendations to enable the final version of the program to be working with high and mistakes can be reduced to a minimum, specify Pitman. In the words its supply of a complete and working product is particularly important in this economic situation.
It is recalled that in the autumn of last year the company presented its services to Google Audio Indexing. It allows to write a certain word or sentence statement of a politician or public figure can be found throughout the speech and video, if it is in YouTube. According to Andy Herzfeld feedback from users has been positive, but most of them insist that help in the search function to spread to other persons outside the political life.

New Investments
At the end of March, California company gave another sign that it intends to invest in future technologies and innovative solutions. She announced the creation of an investment fund with capital of $ 100 million new plant will say Google Ventures and will be 100 percent owned by Google, but will work completely independently. Newly formed company will seek a wide variety of companies to invest in them - the Internet and other services, incl. in the field of health. Announced last week the company's reports show that Google's net profit in the first quarter of this year grew by 8 percent annually to $ 1.42 billion general revenue has increased by 6.2 percent to $ 5.51 billion versus $ 5.2 billion during the same period of 2008

Google Facts
$ 1.42 billion net profit is Google's first quarter of 2009
250mln. Bulgarian impressions monthly account domain to Google.
6.114 billion requests, or 64 percent of the total requests are passed through the search engine Google.

Great Britan's economy with largest drop

2009-04-24T03:49:00.000-07:00

The UK economy got more narrow in the first quarter more strongly than expected, showed preliminary data of the National Statistical Office in London. Gross domestic product declined by 1.9 percent compared to last quarter of 2008, which was reported a decline in gross domestic product by 1.6 percent. Contraction of the British economy, significantly higher than market expectations for a fall of 1.5 percent. According to today's report from the collapse of UK GDP on an annual basis during the first three months of 2009 reached 4.1 percent after a revised decline in today's report by 2.0 percent in the last quarter of 2008. Economic downturn, reported a third consecutive quarter is the biggest on a quarterly basis from the third quarter of 1979. And on an annual basis is the strongest of 1980. Decrease in production is a comprehensive industrial production decreased by 5.5% compared with 4.5 percent decline for the last three months of 2008, a decline in the services sector was 1.2 percent after a 0.8 percent decrease for the previous reporting period. Industrial production fell by 6.2 percent during the first three months of the year, this is the largest of its decline in 1948.

Investing in USA is Good Opportunity

2009-04-23T05:28:00.000-07:00

According to James Shaft for the first time in a long time, the market for homes in the U.S. provides a reasonable opportunity to purchase five-year perspective of the property. Long housing market is dead, and nobody knows how much more will the U.S. recession.
However, historically low interest rates on long-term mortgage loans with a fixed percentage (less than 5 percent for 30-years mortgage) and the prospect of strengthening inflationary pressures within a year or two, both resulting from the current policy of the Federal Reserve and government made the possession of property with long-term financing of the purchase much more attractive than just three or six months. At the same time is hardly reasonable to declare that the bottom in the housing market in the United States has reached, as prices will likely fall further once ever become cheaper with 20% in the U.S. as a whole. Expected futures showed a drop of about 4 percent of the Case-Shiller index of housing prices in the 20 largest urban areas in the U.S. in May this year and in May 2010 and the recovery of current levels in 2012. A market must be seen through the filter of such indicators as unemployment, which will certainly grow from here and economic recovery will likely be very slow. Surely unemployment is generally an indicator of subsequent response within 6 months, but at the same time and has considerable pressure on domestic consumption and the market in the U.S.
No way conversion cycle in the housing market leading to the exit of the country's economy from this recession. As a very important fact: The Federal Reserve will do whatever is necessary and very likely in the effective action to stop deflation. In fact, there is reasonably high risk of inflation to be omitted from the control of the Fed or the buyers of government bonds to pass, given the growing appetite for risk on stock markets. This increase in inflationary pressures will be very useful for those who downloaded long loan to buy homes.

Central Bank of England felt delay in economy

2009-04-22T04:39:00.001-07:00

According to the minutes of the MPC Bank of England, the Bank's members voted 9 to 0 vote to maintain interest in 0.50% and 75 billions pounds buying long-term UK government bonds. BOE said that there is high uncertainty about the size of this program for the purchase of British debt securities. Bank notes that the original reports on the impact of this program are encouraging. BOE sees "early warnings" for improvement of the corporate debt market. Seen and known signals to improve access to credit. According to BOE, the sharp rise in unemployment in UK could hit on consumer spending. The Bank continues to believe that the risks to weigh down the economy in a downward direction. Inflation will probably fall below the target of the BOE in the second half of 2009. (less than inflation so by 2 percent ceiling on / on). According to Bank studies show that the contraction (economic downturn) may be lighter/poorer in Q2 of 2009 and that the pace of economic collapse may be weakened.

Asian Markets finished the session poor

2009-04-22T04:37:00.000-07:00

Today most of the indexes of the Asian markets fell under pressure from concerns about increased revenue for companies such as the Tokyo market was supported by Yesterday strong growth in the U.S. stock indexes, such as pressure were shares of financial companies after Standard & Poor Takefuji yesterday put its competitors and Promise, Acom, and Sanyo Shinpan Finance list of companies under review with negative outlook because of concerns that the costs of refinancing obligations will increase as their credit ratings may drop because of declining profits them. According to many analysts during this week will be a downward adjustment in world markets after the rally from the previous 5 weeks. Regional index for Asia and Oceania MSCI Asia Pacific in Tokyo fell by 0.4 percent to 87.98 points, about five shares for every four cheapen that appreciation. Today the main market indicator Japanese Nikkei-225 Stock Average, rose to 0.18 percent, to 8 727.30 points, after the Japanese currency fell to ¥ 98.77 against the dollar. In Hong Kong index of top companies Hang Seng is lower by 2.67 per cent to 14 878.45 points. The main stock index in China CSI 300 fell by 3.71 percent to 2 576.28 points. Australia S & P / ASX 200 is lower by 0.25 percent to 3 668.20 points, while New Zealand NZX 50 FF GROSS decreased by 0.07 percent to 2 662.94 points. In South Korea, the KOSPI stock indicator has increased by 1.44 percent to 1 356.02 points. In Indonesia Jakarta Stock Price went today to 0.84 percent, to 1 615.23 points, Straits Times in Singapore decreased by 2.32 percent to 1 843.41 points, in India Bombay Sensitive decreased by 0.74 per cent to 10 817.54 points.

Obama wants to stop creditors of Chrysler

2009-04-22T04:33:00.000-07:00

Obama said the U.S. president that the lenders of the automotive company Chrysler are unacceptable because they would lead to unjustified yield bonds. The biggest lenders to Chrysler offered to take shares in the restructured company car when a Fiat Spain combine for 35 percent of their investment in 7 mlrd USD Chrysler. Late last night rating agency Moodys (Investors Service on Moodys) lower debt rating of Chrysler LLC to C, the lowest level of debt rating before falling to a company in insolvency. Moodys also lowered its estimate for the recovery of the company in case of falling into insolvency by 20% from current 50%. Last Moodys lowered the debt rating to Chrysler are 03.12.08g. Chrysler car company has only a few days (until the end of the month) to reach agreement with trade unions and the American road with its creditors in order to unite with Fiat. Only in this case, Chrysler will get a new life of financial aid the U.S. government. Otherwise the company will need to enter the bankruptcy procedure.

Report of US financial losts for 2008

2009-03-14T03:35:00.000-07:00

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.

Japan will give 5 billions USD for ecological projects

2009-03-14T03:31:00.001-07:00

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.

United Technologies will relieve 11 thousand emplyees

2009-03-10T14:20:00.000-07:00

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.

Bernanke: USA economy still did not reached the bottom

2009-03-10T14:16:00.000-07:00

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

According to Hayman Advisors the Eurozone is in front of colapse

2009-02-27T11:48:00.000-08:00

From Hayman Advisors, a company that managed to win 500 million dollars, pledging to collapse in the secondary mortgage market in the U.S., announced that the European Monetary Union is about to collapse, said Bloomberg. According to Hovard Richard, managing director for global markets of Hayman based in Dallas, said that in Germany will probably finance the restoration of its economy than to help countries such as Austria, Italy and Spain, if their banks are not in difficulty as a result of bad debts. Thus Hayman joins other investors who see opportunity serious monetary union whose total gross product is estimated at over 12 trillion dollars, being unable to pass through the crisis.
Last week by Societe Generale analysts also claimed that managers weaken German economy, which is the largest in Europe will refuse to save the other member countries of the euro as this have an impact and the upcoming elections in the country. At the same time, European banks lending to Eastern Europe have exceeded 1.3 trillion dollars in the third quarter of last year, which is about 9 percent of EU GDP, according to data published by the ING Group of February 18. Irish banks' debts are 11 times greater than the GDP of the country, Dutch - 7 times, and the Belgian 4 times greater.

Decrease in US indexes

2009-02-27T11:41:00.000-08:00

Two hours after the beginning of the session of the New York Stock Exchange, the broad index of U.S. companies, Standard & Poor's 500 fell by 1.54 percent to 741.12 points. The index of top U.S. companies, Dow Jones Industrial Average falling by 1.11 per cent, to 7 102.67 points. Technological NASDAQ Composite Index dropped with 0.65 percent to 1 382.41 points.
U.S. stock indexes fence part of its initial fall after surprisingly strong rise in industrial Chicago PMI index for February. DJIA session began with a drop of 150 points and S & P500 reached a new 12 bed level of 735 points, below the previous bottom of 741.02 points registered in 21st Novermber 2008. The basis of the decline in stock market of Wall Street and a new decline in financial shares, as the financial sector was down by nearly 6 percent as shares of Citigroup cheapen with 31.30 percent to 1.69 dollars after the U.S. government increased its share in bank to 36 percent, as uncertainty about the main U.S. banks rose.
In Europe, major stock indexes finished the day with the decreases, which further depper after weak data on U.S. GDP (growth revisions to -6.2% from -3.8% previous estimate of Q4 of 2008.) At the end of the session the German index of "blue chips" DAX 30 fell to 3 828.42 points or 2.91 per cent compared to yesterday. UK leading indicator of FTSE 100 companies fell by 2.58 percent to 3 814.59 points. On Friday, France's leading companies index CAC 40 decreased by 2.14 percent to 2 686.18 points. Since the beginning of today's European trading shares in Europe are on sale to large losses of 7.5 billion pounds to account division of British bank HBOS and Lloyds news that it has reached an agreement to insure the assets from the UK Government (shares of Lloyds are down by 21.60 percent, leading to decline and other bank shares).

Citigroup reached agreement with the government

2009-02-27T11:37:00.000-08:00

Today the U.S. government agreed to rescue Citigroup, which would reduce the share of current shareholders of the bank by 74 percent as a result of which the shares of financial institutions are thrown down by 37 percent. By the Finance Ministry said it would change the preference shares for 25 billion dollars in common, such as private shareholders will have to agree to the same conditions. Changing share of the U.S. government in the New York-based company will reach 36 percents.
Today the bank, which last year reduced its dividend for the fourth quarter by 1 cent per share, said it ultimately will not pay a dividend for the period. Also, the company reported additional losses related to the impairment of assets that the deficit for 2008 reached 27.7 billion dollars or 48 percent more than reported a month ago. Today, shares of the Bank are under increased pressure as if converted to any preference shares into ordinary Citi, it will leave current shareholders with a share of 26 percent. Moreover swap of shares, the bank has agreed to change the board of directors to be more "new and independent" according to Finance Ministry.

Norwegian Financier get the control over Iceland Central Bank

2009-02-27T11:22:00.000-08:00

Iceland appoint Norwegian financier Harald Svein Oygard temporary head of the central bank during the reconstruction of the country after the collapse of the banking system and her currency. He has 11 years experience in the Central Bank, Ministry of Finance and the Parliament of Norway.
Thursday provisional government of Iceland has adopted a bill to reform the central bank, which allows David Odson be removed from the post of governor. Odson highly criticized because that is not made more efforts to prevent the bankruptcy of banks in the country and has hardened opposition to the requests from the government to submit his resignation. Iceland received loans of 10 billion dollars by the International Monetary Fund and other creditors in order to restore its banking system and confidence in the currency.
Separate Icelandic government announced that one of the options to stabilize the financial system, which is considering is to swap foreign assets held by pension funds and other large local financial companies against the Icelandic government bonds owned by foreign investors. According to government foreign investors hold debt instruments in local currency for about 3.6 billion dollars, or about 25 percent of gross domestic product of the country. These funds have been frozen in Iceland after the crash of the financial system in the country last year when authorities stopped in Reykjavik, capital flows to protect the currency from further depreciation.

2009 will be weak year for the IT sector

2009-02-26T13:24:00.000-08:00

Continuous decline of the global economy, including the prospect of negative GDP growth in many major countries had prompted IDC to revise its forecast for IT spending worldwide in 2009. In the Black Book of IDC now estimates for IT spending worldwide have increased by only 0.5 percent a year in 2009 versus a previous forecast increase of 2.6 percent. If current trends in the movement of exchange rates continue, this will lead to a significant decline in revenues of U.S. based IT providers.
The greatest impact of the crisis will be felt on the hardware market, where the overall cost will decrease by 3.6 percent this year, led by sharply reducing the cost of servers, PCs and printers. In contrast, the worldwide cost of software and IT services is expected to rise by 3.4 percent in 2009, with previous expectations for growth by 4.6% and 3.7%. The total volume of IT expenditure in 2009 will be 1.44 trillion dollars. For the United States, IDC has forecast annual growth of 0.1 percent of total IT spending over the November forecast for an increase of 0.9 percent. In the fourth quarter data from a number of key markets, and clearly shows that companies very quickly narrowed its costs, "said John Gantz, chief director of research at IDC. According to him, investing in software and services are supported in pursuit of productivity and efficiency gains, while hardware costs are reduced in an attempt to make the most of existing assets. IT spending in Western Europe is expected to increase by 0.1 percent in 2009, as in France and Italy there is a likelihood of decline. IT spending in China is expected to increase by 6.5 percent under a previous forecast of 9.1 percent and India with 5.7 percent when 10 percent expected previously. In Japan the cost will decrease by 1.8 percent in 2009, with previous expectations of 1.0 percent growth. IT spending in Brazil will increase by 6 percent in 2009, with previous expectations of 9% growth. In Central and Eastern Europe, IT spending will decrease by 7.5 percent in 2009 due to worsening economic conditions and instability of the business climate.

5.112 millions of US citizens are getting unemployment benefits

2009-02-26T13:17:00.000-08:00

During the week to February 21 in the U.S. have made a total of 667 000 applications for unemployment benefits, according to today's report from the U.S. Department of Labor. This is an increase of 32 000 of the requests to the previous reporting period, the number of applications was 631 000 according to revised data in today's report. Consensus expectations of the market were the number of claims to decline to 625 000, initially reported 627 to 000. The total number of Americans receiving unemployment benefits, increased by 114 000 and reached a record 5.112 million last week. Data for the last four weeks showed a decline in the number of Americans who have submitted the first applications for unemployment benefits up to 625 000 to 627 000 in the previous week.
The level of Americans with insurance against unemployment, to receive benefits increased to 3.8 percent, the highest from 1983 onwards, against 3.7 percent the previous week. The average number of requests for benefits over the past four weeks was 639 000. Data show that U.S. companies continue to reduce costs and reduce its staff, a process that erosion consumption and growth of the country's economy, as probably this month unemployment rate will rise to 7.9 percent.

Selling of new homes in USA with lowest level

2009-02-26T13:14:00.000-08:00

Sales of new U.S. homes fell a record in January, under the pressure of increasing uncertainty and the large number of homes with outstanding mortgages on the market.
Sales fell 10 percent to 309 000 annually, the lowest level since he started to lead the investigation of this indicator in 1963, according to the report of the Ministry of Commerce, published today. The average price of homes fell by 13.5 percent, which is its biggest decline in almost 4 decades. Consensus expectations were for the market decline in sales to 324 000 last month compared to the originally reported 331 000 sales in December, revised to 344 000 in today's report. New homes are those built in the last 12 months in the U.S. and are available for the first time on the market, and sales to form about 10 percent of the total volume of transactions, but showed a trend of demand and the willingness of Americans to invest their money.
The average price of new homes fell in January to 201 000, which is its lowest level since December 2003, with annual sales declined by 48 percent.

Alessandro Profumo is not affraid from financial crisis

2009-02-23T13:39:00.000-08:00

CEO of UniCredit Group - Alessandro Profumo said he is not worried about Eastern Europe, although the crisis in the region. "Eastern Europe is not our concern," he told reporters in the business conference this weekend. "We have a clear idea of the situation in the region, but we believe that there is considerable exaggeration," he added. UniCredit Bank is the largest lender in Central and Eastern Europe in recent days shares of the bank 12 years to destroy the bottom part because of investor concerns about exposure of the banking group in the region and developing economies.

Joe Biden will be responsible for "resque plan"

2009-02-23T13:31:00.000-08:00

The American president Barack Obama announced that Vice President Joe Biden will monitor the effective use of funds from the package to stimulate the economy, said "New York Post". According to him, control of such a high level stresses the importance of the rescue plan. On Biden to be regular meetings with senators, congressmen, mayors and governor to monitor how funds are spent down. Communication was made at a meeting of the Association of governor in Washington. It is recalled, the White House, Congress and Senate have agreed a financial package amounting to 787 billion dollars. Obama called him to the recent adoption and entry into force, should not lead to a crash. A number of Governor-republicans expressed its willingness to waive the financial contribution provided for their states. The reason for this is related to difficulties in implementing its long-term.

2009-02-14T03:55:00.000-08:00

London Stock Exchange (LSE) announced today that it will appoint its CEO Xavier Role, reported Reuters. He is a former director of the division of bankrupt Lehman Brothers in France. Role will join the board of directors of the exchange of 16 March and will take the post of CEO on May 20. He has made significant connections with the London Stock Exchange during the 9-year career at Lehman. U.S. investment bank was among the largest customers of the London exchange to September, as soon as a bankruptcy.

France is going in recesion

2009-02-14T03:46:00.000-08:00

Also the second-largest economy in the euro account rolling after it was reported yesterday that gross domestic product of France was reduced to 1.2 percent in the fourth quarter of 2008 versus the previous three months. This is the weakest quarter for the French economy in the last quarter of 1974, when decreased from 1.6 percents. Thus the French economy is about to enter its first recession in 16 years since the first quarter of 2009 as business confidence, industrial production in the country will probably shrink in the coming months.
In the early months of the French Central Bank estimated that gross domestic product of the second largest in the euro area economy will shrink by 0.6 percent during the three months to March, as the bank previously estimated decrease of 1.1 percent in the last quarter of last year. In the third quarter of last year the French economy marked growth of 0.1 percent, which although minimal prevent disclosure of a technical recession in the country, were then projected to decline by 0.9 percent. After being among the few European countries where economic activity marked growth for the third quarter, France acceded to most of the economies in Europe, reacted with a negative growth because of adverse effects from the financial crisis, commented the Minister of Economy Christine Lagard. For the whole year data are expected to show GDP growth of 0.7 percent versus 2.1 percent in 2007. Estimates of the economic ministry for this year are for a decline in the economy of at least 1 percent. GDP data to be reported today, but by the institution published its report earlier because of leakage of information.
However, today in France reported a decline in non-agricultural sector employment over the last three months of last year by 0.6 percent and delay the growth of earnings for the period to 0.3 per cent to 0.7 per cent during the previous quarter.

The oil markets are more optimistic with Obama

2009-01-22T00:56:00.000-08:00

Today, oil markets are consolidated, as the one hand on the price of black gold continues to exert pressure global recession and falling demand, on the other there is hope that plans to support the banking system and to stimulate the U.S. economy will resume soon economic growth globally and especially the demand for oil in the country, which is the biggest user of raw materials in the world. Yesterday the price of oil futures with delivery in March rose by 6.6 percent, supported by growth of capital markets after the new U.S. president announced a program to assist the banking sector, which can be funded by the financial package to stimulate the economy.
But now oil prices are under pressure in anticipation of data on the reserves of U.S. companies with oil and petroleum products, which are expected to register growth for last week. Today, at the beginning of the session of the European markets contracts for the supply of oil in March WTI variety cheapen during electronic trading in New York to 0.07 percent, to 43.52 dollars per barrel At the same time, in a variety of London Brent futures fell by 0.11 percent to 44.97 dollars per barrel. The price of oil fell by 2.4 percent from the end of December so far and 52 percent on an annual basis. Yesterday in New York index of top U.S. companies, Dow Jones ended the session with a rise of 279.01 points or 3.5 of the WTO to 8 228.1 points, while the broad U.S. stock indicator Standard & Poor's 500 rose by 4.4 of the WTO, to 840.24 points. On the other hand, the economies of Japan, China and South Korea are showing greater signs of slowing, as was reported today that the Chinese GDP growth for the fourth quarter of 2008 decreased to 6.8 percent. And I was in Japan reported decrease in exports by 35 percent in December, while growth in the economy of South Korea's funny to 5.6 percent in the last quarter.

Prices of Real Estates in London are falling

2008-12-29T07:28:00.000-08:00

Housing prices in London fell more than in any other region of the UK this year and will probably continue to fall in 2009, as economists expect a deepening of recession in the UK, reported today by Hometrack. Housing prices have fallen by 10.1 per cent in the capital of the United Kingdom, to an average reduction of prices by 8.7 percent nationwide this year. Only in December house price in London fell by 1 percent, to fall by 0.9 percent in the UK as a whole. House price in England and Wales have fallen to an average 159 900 pounds, according to the market research company Hometrack.
Housing on the island already cheapen 15 consecutive months, having decreased by 9.3 percent since the beginning of the crisis in August 2007. According to the survey average time of properties sold in December was 12 weeks compared to 8.3 weeks year earlier and six weeks in April 2007. The average final selling price has reached 88.6 percent of the initial bid, against 93.5 percent in December 2007. Housing prices in Britain are trouble in the past 10 years, reaching their highest levels in the middle of last year. At present, banks have limited lending trying to increase its capital base and to restore its fiscal balance in the face of recession depth and growth of unemployment in the country. Government led by Prime Minister of Britain Gordon Brown will announce new measures for the recovery of credit in the next month after the sharp reduction in the basic interest of the Central Bank of England does not lead to a thawing of credit resources.

Will GMAC start working?

2008-12-29T07:21:00.000-08:00

Day after the expiry of the deadline for the financial division of General Motors, GMAC to fulfill the conditions to debt and capital base to be converted into a bank holding company, the company maintained silence on how to develop negotiations swap transaction exchange the company's debt worth 38 billions dollars against its shares. Since the company must obtain approval of its creditors for 75 percent of the debt in order to enforce being converted into a bank holding company. On Wednesday Fed GMAC gave permission to be converted into a bank, on Sunday as the company announced that give information about the process as soon as possible. Majority share of 51 percent in GMAC is owned by investment fund Cerberus, which is the main investor in Chrysler, the remainder of the shares of the company are owned by General Motors.
Financial company whose main activities lending and consumer loans for the purchase of cars hopes on the support of the U.S. government, but under the program to stabilize the banking sector worth 700 billion dollars. For this purpose, however, the company must meet certain conditions for the debt ratio and capital base to its assets, as to implement them GMAC wants to take the redemption of bonds with maturity expiring over the next five months. The company will offer price of 55 dollars for the price, if holders of the bonds are not satisfied with this offer will be able to exchange the debt against an equivalent value preferred shares or bonds. ResCap of creditors will receive 20 price of the dollar value of debt held by them. GMAC is united with losing CIT, whose main activity is commercial lending in an effort to ease access to financing and to obtain the status of bank holding company. Currently the company is facing bankruptcy, as has debts of 52 billion dollars with maturity, expiring in 2009. The last deadline for fulfilling the conditions for transformation into a bank holding company of the financial company was Friday, last week. GMAC, which provides funding and dealers of automobiles General Motors, difficult situation falls under the pressure of the collapse of mortgage markets in the U.S. brought its losses amounted to 7.9 billion dollars.

Credit fever on developing markets

2008-12-29T07:09:00.000-08:00

Record amounts of government securities which they intend to issue the industrialized countries next year to finance its shares to deal with recession loom, threaten to reduce access to the governments of the new economies to the credit market - says "Financial Times". According to analysts, new markets may be out of the issue of securities for 3 trillions U.S. dollars, which is three times more than in 2008. Only the U.S. is expected to issue debt of 2 trillions dollars in 2009.
Head of the Unit for Research on developing markets for RBC Capital Markets says: in simple words will be fighting for limited funds among more emitent. At the same time, governments and corporations from developing markets should pay the debt amounting to 6.865 trillions U.S. dollars next year, according ING Wholesale Banking. In including bonds, loans, interest payments and trade payments. According to the strategic leader for developing markets for ING, the risk of refinancing will be among the biggest problems in 2009 for new emerging markets.
"Do not look likely government bankruptcies, but many companies will see the debt restructuring or bankruptcy", commented analyzers. Governments and companies with the highest score will still attract buyers, but most issuers will have to provide far higher returns to investors. Payments on foreign debt next year to Brazil, Russia, India and China are as follows billion to 205 U.S. dollars, 605 U.S. dollars billion, 257 billions U.S. dollars and 2437 billions U.S. dollars, but the countries of Brick able to rely on big foreign exchange reserves to pay accounts. For example Argentina has a foreign debt of 64 U.S. dollars billion due in 2009, Turkey and 36 U.S. dollars billion