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Spain has officially fallen into recession in first quarter with a new economic contraction of 0.3% over the first three months of the year, statistics showed Thursday's final National Institute of Statistics.
On the other year, the Spanish gross domestic product fell 0.4%.
Spanish GDP had dropped 0.3% in the last quarter of 2011.
"The recession is advancing at a gradual pace, but if we take into account the latest surveys on activity, it seems that the economic contraction will continue into quarters come, "said Tullia Bucco, an economist at UniCredit.
The Spanish manufacturing sector contracted at its fastest pace in almost three years in April, while the service industry fell for the tenth month of row, according to the purchasing managers' index.
The export sector, the only one that has progressed over the last two quarters, slowed from January to March, the main economic partners of Spain is also experiencing the recession or slowdown.
Madrid seeks to convince investors that Spain is able to consolidate its public finances while reducing expenses, but the cost of restructuring its banking sector worries the markets .
The premium demanded by investors to acquire the Spanish debt rather than German debt has reached this week its highest level since the introduction of the euro, more than 500 basis points.
In most cases,
fast cash loans are credited to the borrower's account within 24 hours. Sometimes the time taken may be even less, depending on the amount of loan as well as the company which processes your application.
The leader of PASOK, Evangelos Venizelos, announced Saturday its economic program a week early parliamentary elections in Greece, promising reforms on liberalization professions rather than tax increases.
The party of former Socialist Minister of Finance, who played a key role in the financial rescue of Greece by the EU and the IMF last year, is ahead in polls voting intentions by his conservative rival, New Democracy.
PASOK came to power in 2009 with nearly 44% of the votes, May 6 should get between 14 and 19% of the vote, voters blaming him for the harsh treatment of austerity imposed by the donor in exchange for their financial support.
Evangelos Venizelos took the reins of a party in February capilotade in succeeding former Prime Minister George Papandreou. At the time, PASOK enjoyed a popularity rating of just 8%.
The new leader pledged Saturday not to declare the general fall in wages and pensions as long as the country continues on the path of reform.
"No Greek citizen should live in fear of what will be done in June," has tried to reassure the Socialist leader, referring to the new crackdown announced for next month's parliamentary elections. "We pledge (on this point) and we assure you that no new tax will be imposed."
He added before a crowd of enthusiastic supporters: "On the contrary, we will focus on structural reforms in order to have a state smaller and less expensive, open market and professions ; s and to allow everyone free access to economic activities and production. "
Last week, the leader of New Democracy, Antonis Samaras, promised if he wins election to cut taxes and increase social spending while meeting commitments budget set by foreign donors.
New Democracy and PASOK are the only two major political parties to support the Greek bailout the nation's finances, which bends under the burden of debt.
Bank of Japan announced Friday a further easing of monetary policy, pledging one hand to increase its program of asset purchases of 10,000 billion yen (94 billion euros) and secondly to acquire government bonds of longer maturities.
Despite signs of growing a resumed third largest economy, Japan's central bank and takes measures to support activity for the second time in just over two months and displays its determination to fight against the phenomenon of deflation beating down the country for over ten years.
Economists had expected an increase in the program of asset purchases two times lower. The BoJ has also surprised by announcing that it would expand its purchases of riskier assets such as Exchange Traded Funds and REITs.
"The BoJ has a bit more than what we expected, then its decision is a surprise" said Masamichi Adachi, senior economist at JPMorgan Securities.
"The bank is trying to get the message that it supports the market and economic recovery, as it did in February. This is a step in the right direction and we believe that the BoJ should do more to encourage the economy. "
The BoJ's decision, taken unanimously, carries its asset purchase program to 40,000 billion yen. The rate remains unchanged in a range of zero to 0.1%.
Immediately after the decision of the BoJ, the yen fell against the dollar. He was subsequently erased its losses and, to 6:40 GMT, gaining more than 0.3% against the greenback and the euro.
The BoJ has estimated that it would not "too long" to reach its inflation target of 1%, which could dampen expectations of further aggressive monetary easing measures.
It also found more and more evident that the third world economy was on the road to recovery. A series of indicators released Friday abounded in his direction.
Japan's industrial production rose 1.0% in March, posting its largest gain in three months in favor of a stabilizing external demand and the reconstruction of areas hit the country ; es by the earthquake and tsunami a year ago.
Also in March, retail sales jumped 10.3% year on year, against a 9.8% increase expected by analysts, while household expenditure increased by 3 4% in real terms, after growing 2.3% in February.
The unemployment rate meanwhile remained steady last month at 4.5%.
Atos confirmed Wednesday all its annual targets after completing the first quarter organic growth of 2.4% of its turnover, driven by outsourcing, Germany and UK.
The computer services company, whose main competitors are Accenture and Capgemini, confirms this year include a slight organic growth of its turnover from the level proforma 2011 and is operating margin 6.5% compared to 4.8% on a proforma basis in 2011.
"We have confirmation now for three quarters as Germany, Eastern Europe, Central and Northern and the United Kingdom are now vehicles for growth, and continue to register a level 'satisfactory business, "said Gilles joined, executive vice president of Atos, during a conference call.
He told Reuters an acceleration of the group's organic growth in the second half compared to the first. He stressed the unfavorable comparative weighing of the second quarter, which has more public holidays in 2011.
The group achieved first quarter sales of 2.163 million euros, driven by organic growth of 3.9% of its center outsourcing (IT outsourcing) representing 45% of the activity.
Growth in Germany and the UK, its two largest markets, are also more than offset declines in the Benelux and France, which however had a recovery "in step".
Accenture has on his side out at the end of March a good resistance to its business in Europe.
Closely watched indicator, the ratio of new orders to billings (book-to-bill) stood at 107%, with a backlog of 14.5 billion euros at March 31, or 1.7 year of sales.
Gilles joined Atos has also stated its continued "close discussions" with Thales and Orange, the social project of "cloud computing" was approved Friday by the French government.
He said this could be done via Canopy, the partnership announced in February with the U.S. EMC and VMware in this activity.
"Cloud computing" ("cloud") is to store data in supercomputers called servers, grouped by hundreds of thousands in large premises belonging mostly to large IT groups.
WORLDLINE CRUCIAL FOR ATOS
Gilles joined also wishes to continue developing its cluster electronic payments and secure transactions, which includes Atos Worldline.
Rumors had been circulating there for ten days on this division following a note from Morgan Stanley essentially assuming that the integration of SIS, the IT division acquired from Siemens, promised to die pledge more synergies.
Gilles joined observed that these were "comments outside the company."
Atos Worldline is a "major division" Atos, which will help the group reach its operating margin target of 7% to 8% by 2013, he said.
"We are a management that is not dogmatic," but added Gilles joined. "It is our duty by definition never exclude any option that could accelerate and support the further development of this activity in our company."
Atos also aims to achieve a cash flow of around 250 million euros in 2012, against 194 million in 2011 to support an increase in operating margin and a tighter control of investment and working capital needs.
The action Atos closed Tuesday down 1.57% to 20.04 euros, giving a market capitalization of 3.69 billion. She has returned 30% since the beginning of the year.
China widened the fluctuation band of its currency. A measure to reassure the markets following the slowdown in growth, but also a real business strategy. Interview with Sebastien Barbe, senior economist at Credit Agricole-CIB. Doubling the maximum fluctuation of the yuan is a diplomatic act, with a real strategic significance …
China conducted today to double the ceiling of fluctuation of the yuan. Should we consider the measure as a real movement towards liberalization of the Chinese currency? What impact will the measure on the evolution of the currency? Our questions to Sebastien Barbe, senior economist at Credit Agricole-CIB.
As of today, the yuan is really undervalued, or does it happen, as claimed by Prime Minister Wen Jiabao, to its equilibrium level?
It is difficult to answer this question with certainty. We lack precise figures which we can really conclude. This is indeed some, however, is that the yuan is much undervalued than five years ago. China has actually taken steps since constant progressive revaluation of its currency. If during the subprime crisis the exchange rate with the dollar was frozen, the yuan has appreciated against many currencies of emerging countries over the period. It is better to resonate well in terms of real effective exchange rate.
Doubling the maximum fluctuation of the Chinese currency translate into a genuine process of internationalization? Does it not rather a symbolic approach?
In reality, these two aspects will play. But the increased ceiling remains above all a measure of scale. Eventually, the Chinese will be able to fluctuate even more their motto. This is a significant step towards liberalization of the yuan. If in the future the Chinese are more confident about international politics, they are probably glad to have introduced this measure. It is a reform that will eventually play and count. At the moment, it's more of an accompaniment of the process of internationalization of the yuan. The symbolic is seen in turn at different levels. A message of confidence, first, compared to the rate of growth. A willingness to reassure the markets, while China's growth tends to slow down. By extending the maximum fluctuation of the yuan, they take the chance to see their currency appreciate more, which would hurt exports and thus their international trade. It's a real soft landing that is looming for the Chinese. We can then analyze this decision as "an act of economic diplomacy" aimed at their trading partners. If China loose a little ground on the control of its currency, it will have greater legitimacy to demand a return to its partners, by being much more demanding. Specifically, it could expect from Europe, its largest importer, that it demonstrates a much better coordination. The measure is reflected, and will add weight to China in its trade relations.
While doubling the currency became effective today, the yuan was at the opening down to the dollar. How do we tend to expect in the future?
The assessment should continue, perhaps not spectacularly, at least as concerns about the European market will also remain strong. Europe is the largest importer of China, a major evaluation on the rise of the yuan should now be discounted. Within a year or two, things may have to evaluate more quickly. To give you a figure, we believe that the yuan could appreciate the full year from 2.5% to 3%. Even up to 4.5% in the event of Europe show signs of recovery. But to date, caution should remain the watchword.
TPSA has renamed itself Orange before Poland hosts the Euro 2012 late June, hoping to compete with an integrated offering, said Thursday the CEO of the subsidiary of France T LECOM.
"Selling Orange and TPSA separately is not very sensible economically," he told Reuters Maciej Witucki. "Customers expect a bundle of four services, which is why it is better to sell them under one brand."
"Rename the brand was included in our 2012 budget and we confirm our objectives," he added. "It will be neutral on our EBITDA and we also confirm our objective of slowing the decline in revenues this year."
European shares ended lower Tuesday, in response to statistics from the U.S. consumer confidence but more importantly to the decline in Total, which has stalled and resulted in values energy in its fall.
In Paris the CAC 40 showed a loss of 0.92% to 3469.59 points. Elsewhere in Europe, Frankfurt finally stable (0.00%), Madrid lost 1.03%, 0.56% and London Eurofirst 300 0.50%.
In the wake of Total, which lost 6%, the values of European oil and gas realize the worst performing sector of the day, with a loss of 2.37%.
The market is worried about the consequences of the gas leak occurred Sunday on the platform of the Elgin-Franklin French oil tanker in the North Sea.
U.S. consumer confidence fell in March and inflation expectations have never been higher for 10 months, according to the Conference Board index released Tuesday.
For its part, Wall Street pauses, ranging from missing a day after rising to peaks of nearly four years. However, the S & P 500 is on track to register its strongest quarterly performance since 2009.
Markets have also heard of another American Statistical relatively sluggish. The prices of houses have not changed in January, suggesting that this struggling sector just to turn the corner, shows the S & P Case-Shiller index released Tuesday.
Total accuses its biggest loss since December 2008, following discussions that represented a volume of five and a half times its daily average of 90 days.
"It reminds the BP oil spill in the Gulf of Mexico in 2010. Difficult to know the extent of damage at this stage but when in doubt, it is better to sell. The action does BP is never recovered, "said a trader based in Paris
. BG, which has a stake of 14% in the deposit Elgin, lost 2.9%
. Philippe Gijsels (Fortis Global Markets) emphasizes that portfolio adjustments at the end of quarter amplified gains in the FTSEurofirst 300, which makes it vulnerable. "This is the usual set of month-end, which imposes an upward pressure to the side and makes the market very overbought. I think the beginning of next term will see profit-taking, "he said
. For Lynden Branigan (Barclays Capital) would require the FTSEurofirst 300 plunges below 1,050 points to break the uptrend. But he is relatively optimistic and sees a buying interest occur between 1069 and 1072, the Friday low and the 50-day moving average, respectively, with resistance at 1109, the peak in March.
Italy and Spain have sold debt without concern Tuesday, what can be interpreted as a sign of market confidence in their ability to recover their public finances and reform itself.
Italy has placed 3.8 billion of zero coupon bonds to two years with a yield of 2.35%, the lowest since November 2010, against 3.01% during the operational previous generation.
Spain sold 2.6 billion euros of treasury bills at three and six months yields moving in opposite directions to each other.
The Italian paper, however, suffered in the secondary market shortly after the auction, traders were saying that the award came too soon after the big award of € 7.3 billion of indexed bonds last week.
The dollar rose slightly against the euro and more markedly against the yen, maintaining its gains despite a statistical lackluster consumer confidence.
This increase comes in a market hit and little fluctuation, traders cautiously gauging the remarks made yesterday by the Federal Reserve chairman Ben Bernanke.
Growth of the U.S. economy will have to accelerate job creation that do fall further unemployment, Ben Bernanke said Monday.
Oil prices have turned down after Bloomberg, citing an official from the energy sector, had reported that the U.S. planned to tap into strategic reserves ; cal.
U.S. officials have been saying for months that draw on reserves is one of the options available to address market disruption. Reuters reported this month that London was ready to work with Washington to take on strategic reserves in the current year.
No details were available on information from Bloomberg, which is not known whether it signals a change in tone or intent on the part of the U.S. government.
Ireland's GDP fell 0.2% in the fourth quarter after falling 1.1% in the third. A nasty surprise which should limit growth to 0.5% this year.
The Irish economy contracted by 0.2% in the fourth quarter of 2011, bringing the country back into recession after a third quarter also negative, according to official figures released Thursday. Over the whole of 2011, however the country has grown by 0.7% thanks to a good start to the year, said the Central Statistical Office (CSO) in Ireland. The gross domestic product (GDP) had contracted during the previous three years.
GDP fell 0.2% in the fourth quarter, after -1.1% in the third quarter, according to a revised figure of CSO. The country is thus technically back in recession, it characterized by a decline in GDP for at least two consecutive quarters. This return is in recession and takes a nasty surprise against the foot of the forecasts International Monetary Fund (IMF), who still believed in early March that the country was to escape thanks to the good performance of exports in sectors such as pharmaceuticals and computer.
The institution was then once again commended the efforts made after the international bailout of 85 billion euros in 2010 concluded with the EU and the IMF to help Ireland to meet a deficit abyss caused by the sinking its banking sector. She pledged in return to a consolidation of public finances through a severe austerity measures, whose implementation is complicated by growth at half-mast, synonymous with lower financial income for the state.
"Net exports have disappointed this time," said Sonia Pangusion Thursday, economist at IHS Global Insight firm. The Irish economy is in fact based largely on exports, making it vulnerable to economic conditions in the rest of the euro area, while domestic demand remains very depressed. "Households continue to save rather than spend it in a context of fiscal austerity and unemployment high," said Alan McQuaid and, Bloxham economist Dublin firm, which expects growth of 0.5% this year. The Irish government hopes for its part "at least 1%" growth in 2012, stated the Minister of Finance, Michael Noonan, in a recent interview with AFP.
In 2011, annual growth has been fueled by sectors of industry and agriculture, whose growth has offset the decline in construction or services. Gross national product (GNP), which excludes the activity of many multinational companies based in the island, for its part, declined 2.5% last year.
Free said Thursday a "huge success" for its mobile business launched earlier this year, but without giving the number of its subscribers, and promised to accelerate the deployment of its network, subject of much controversy.
The internet service provider has a spectacular entrance in January on the French market of mobile telephony with offers at bargain prices, forcing competitors to lower rates of part of their bids to try to stem the exodus of their subscribers.
The speculation is rife, since the number of subscribers attracted to entering the fourth, recently estimated at 1.5 million by the CEO of France Telecom.
The parent company, Iliad, does not figure in its earnings release issued on Thursday, making only a state of "tremendous success" commercial activity of its rolling the dice goal of the year.
The chief financial officer, Thomas Reynaud, said that the numerical results would be unveiled in May to mark the publication of first quarter figures.
At 10:04, the title earns 0.34% to 99.09 euros, while the sector index losing 0.2% in the same time.
The group led by Xavier Niel plans to accelerate deployment of its network in order to have 2,500 sites equipped by the end of the year, against a thousand now.
Nearly 250 million additional investment expected to be incurred in 2012, after more than 400 million euros last year, said Thomas Reynaud at an international ; Conference call.
In total, the group's investments jumped nearly 50% last year to 1.2 billion euros, largely as a result of deploying the new Freebox Revolution and the frequency acquisition "4G".
This sharp rise affected the free cash flow of the group that spring -413 000 000 euros for all of 2011 while net income excluding items declined 7% to 255 million.
Iliad has also released last year a turnover of 2.12 billion, up 4%, operating profit (EBITDA) of EUR 833 million ( also 4%), against 2.14 billion and 861.4 million euros expected on average, according to Thomson Reuters I / B / E / S.
For 2012, the focus group said a surge in sales with a growth of over 5% in the fixed without providing forecast figures for the mobile.
ACCELERATE THE DEPLOYMENT OF MOBILE NETWORK
Free Mobile has already upset the French telecom sector, only two months after its launch.
SFR has already said anticipating a decline of 12 to 15% of operating profit (EBITDA) this year while Bouygues Telecom expects a decline of 10% of its turnover.
France Telecom did not provide detailed forecast but also table for the whole group on a sharp decline in its operating cash flow from 2012 to 8,000,000,000 euros, and EBITDA of the incumbent is expected to decrease to one billion euros this year.
Stéphane Beyazian, analyst at Raymond James, said the mobile revenue per subscriber is expected to contract a third on average in the sector over the coming years. Nomura expects the bank for its part the result of operational activities of the three mobile incumbents expected to fall by 28% by 2015.
The launch of Free Mobile has however experienced some delays in the ignition. Some consumers have had to wait several days or weeks before receiving their SIM cards because of congestion of applications portability within the agency responsible for managing them.
The new entrant competitors were quick to question the proper functioning of its network and the controversy has been widely reported in the press.
Free Mobile has been charged off its branches to rest largely on the network of France Telecom, with whom he concluded a roaming agreement.
This series has led to many twists and turns of the policeman to lead a second telecommunications network inspection of Free Mobile, which demonstrated according to ARCEP, that it was meeting its commitments.
Thomas Reynaud acknowledged that about 90% of Free mobile traffic currently passing through the network of France Telecom, while stress that the network deployment of the fourth entrant in e ; silent still in its infancy.
"Our priority in 2012, is make up of mobile subscribers in the network and deploy as soon as possible", he said, adding that it was too early to say whether the group should pay more than a billion euros initially planned as part of the roaming agreement concluded for six years with France Telecom.
GDP grew by only 2.7% in 2011 against 7.5% in Brazil in 2010. The Brazilian economy has actually stagnated in the third quarter. Bay View of Barra da Tijuca in Rio de Janeiro
Brazil's economic growth slowed to 2.7% in 2011, after reaching 7.5% at the end of fiscal 2010, according to data released Tuesday by the Brazilian Institute of Geography and Statistics (IBGE, public). This is slightly lower than the government forecast that predicted a GDP growth of around 3%, confirming a slower growth of the Brazilian economy was already expected by the experts because of the international crisis.
The Brazilian economy grew by 7.5% in 2010, in frank recovery from the crisis of 2008 and 2009. The sectors that grew the most in 2011 were the food (3.9%), services (2.7%) and industry (1.6%), according to IBGE.
In the fourth quarter 2011, GDP in the first Latin American economy grew by 0.3% over the third quarter and 1.4% over the same period in 2010. From July to September, growth had stagnated écomomie Brazilian.
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