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December 1, 2011

Stock markets in Europe take a breather at the opening, following the coordinated action announced by the major central banks to maintain liquidity in markets shaken by the debt crisis.

Half an hour after the bell, stock markets were slightly widened their losses after the President of the European Central Bank (ECB) Mario Draghi said the downside risks to the economy increased. Investors are waiting to learn more about a response of Europeans to the debt crisis to position.

"The increase related to the decision of central banks yesterday allowed (market) to heal his wounds with a high gain of the euro and stock markets.The real question is: this rule does the real problems in Europe? No, not at all, "Judge Michael Hewson, an analyst at CMC Markets in London." This makes the return to the competitiveness of European peripheral countries due to the strengthening of the euro.

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November 29, 2011

The British government Tuesday revised down sharply its growth forecasts and found that it would take longer than expected to reduce the budget deficit, which led him to extend austerity measures beyond the election date of 2015.

Finance Minister (Chancellor of the Exchequer), George Osborne, warned that the UK economy might slide into recession if the debt crisis was not quickly resolved.

"If the rest of Europe is heading into recession, it may be difficult to avoid in the UK," he told parliament in his address to the biannual budget.

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November 27, 2011

The recovery plan for Air France will be in two phases and its first phase in January or February, will include measures to increase savings in order to preserve cash, writes La Tribune to be published Monday.

The second part of the plan will be announced in May or June and will aim to increase employee productivity and quality of service, the newspaper said.

The Air France-KLM announced a savings plan for the first quarter 2012, when publishing its quarterly results in early November.

The group had announced on this occasion it would have lost the whole of 2011.

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November 25, 2011

Societe Generale said on Friday to give Rhodia (Solvay) its 50% interest in Orbeo, the company dedicated to the carbon markets, equally owned by both groups.

Orbeo, based in Paris, was founded in 2006 at par by the bank and the French chemist, in the context of the creation of carbon markets in 2005 and the implementation of the Kyoto Protocol in Europe.

The Solvay has already acquired half of this year by acquiring Rhodia Orbeo.When it has, by January 1, acquired the participation of SocGen, it will therefore control the whole.

"Rhodia Energy wishes to strengthen its commitment to the fight against climate change by making full use of industrial know-how of Rhodia and Solvay and expanding its offering in the integrated management of energy and CO2 emissions," said Solvay in a statement.

The terms of the agreement were not disclosed

An analyst with SocGen said the agreement had no connection with the collapse in prices of units of certified emission reductions, which reached Friday morning a new record low of 4.40 euros.

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Berlin suffered a calamitous debt issue considered

November 23, 2011

Germany has awarded Wednesday that just over half the amount of debt that she hoped to sell, wiping one of its worst sovereign issues since the inception of the euro because they have offered a sufficient return to investors.

Berlin has been sold for 3.644 billion euros in loans to ten years against 6 billion expected, so that the Bundesbank, the German central bank, had to buy the remaining 39% to avoid failure of the operation.

The very low yields offered by the Bund have dampened the appetite of investors, already concerned about the cost that will impose on Germany a spiral of debt crisis in Europe.

"This is a complete disaster, absolute," said Marc Oswald, strategist Monument Securities in London.

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November 22, 2011

According to WWF, manufacturers and retail chains are becoming more virtuous in the use of sustainable palm oil. But efforts are still needed. Today, 10% of palm oil produced in the world is certified sustainable.

The sustainable palm oil seems increasingly preferred to curb deforestation, according to the World Wide Fund for Nature (WWF). But the efforts of the major European manufacturers and retail chains involved are still too slow, said Tuesday the NGO. In a study of 132 European companies, WWF estimates that nearly a distributor of two and a manufacturer in five does not meet the charter of the Roundtable for Sustainable Palm Oil (RSPO), an association created in 2004 bringing together producers, industry and NGOs worldwide.Indonesia and Malaysia produce between them about 80% of world production of palm oil product with multiple uses (cosmetics, food, bio-fuels).

November 20, 2011

The party led by Hervé Morin Sunday presented its program for the 2012 presidential election. One proposal is to increase the legal working time for France to regain its prosperity. The details. The new center, chaired by Hervé Morin, "welcomes the solidarity displayed by members of the euro area to contain the fire but called Greek EU officials to seize the opportunity to finally put in place a genuine European economic government.

The President of the New Centre, Hervé Morin, future presidential candidate, said Sunday during his campaign that he would defend the idea of ​​an increase in working hours, with a 37-hour week, that France found its prosperity. "We constantly talk about the restoration of public accounts and the return to a balanced budget.

Europe

– Provide Europe with a single presidency created by the merger of the European Council President and the President of the European Commission

– Making of the European Commission the true government of the Union

– Provide the euro area economic governance: generalization of qualified majority voting, can create Eurobonds to communitarise part of European debt, creation of a Monetary Fund and a European rating agency.

– Establishment of a European reindustrialisation.

November 18, 2011

The news is unnoticed but it is historical: the Central Bank of China has authorized the Central Bank of Austria to make investments in renminbi. Decryption with François Godement, China specialist and Director for Strategy Asiacentre. The yuan's Bank of China has signed an agreement with the Austrian Central Bank allowing the latter to make investments in renminbi. What is the meaning of this agreement?

The news is almost unnoticed but it is huge. This is another step in Beijing's policy to internationalize the Chinese currency. The Chinese government seeks to ensure that the renminbi becomes progressively currency regulations of global trade flows. He also wants it to become a reserve currency, equal to the dollar and the euro.

November 11, 2011

The International Monetary Fund (IMF) estimates that there is a definite risk that the major economies fall into recession, unless their authorities take urgent measures to stimulate growth.

In a note which had been prepared for the G20 summit held in Cannes last week, but was not published until Friday, the Fund believes that the recovery of advanced economies patina.

"Paralysis and inconsistency have exacerbated the uncertainty, loss of confidence and increased tension of the financial market," he diagnosed.

The most advanced countries should urgently propose program medium-term fiscal consolidation credible and further reform the financial sector, while the emerging edge must accelerate the appreciation of their currencies, he said.

In particular, the IMF observes, there is "considerable uncertainty" about how to achieve fiscal sustainability in the United States, Japan and some countries in the euro area.

November 10, 2011

HSBC reported Wednesday a fall from higher than expected profits in the third quarter due to sluggish performance of its investment arm and an increase in bad debts in the United States.

The first European bank also warned that it could leave the United Kingdom, where its headquarters for more than twenty years, due to new rules on capital that could cost him dearly.

Over the period from July to September, HSBC made a profit taxable underlying decline from 36% to $ 3 billion (2.18 billion euros).

The bank has already cut 5,000 positions from the first quarter of the 30,000 cuts announced by 2013.

HSBC said its provisions for credit risks, and charges were up $ 700 million at quarter end compared to their levels of last year at this time, partly because of the moratorium on foreclosures in the the United States.

"The outlook for the global economy are very difficult, as problems in developed markets beginning to affect the growth rate worldwide," said HSBC.