The activity has slowed sharply in April in the Chicago area, which serves as a barometer for the entire U.S. industry. Barack Obama visited a General Motors plant in Hamtramck, Michigan, near Detroit, July 30, 2010.
The slowdown of U.S. economy in the first quarter is on track to continue in the second. Industrial activity has slowed markedly in the Chicago area in April, according to the local index of purchasing managers in the U.S. ISM trade association said Monday. This index was down 6.0 points from March to $ 56.2 in seasonally adjusted data, its lowest level in 29 months, the ISM said.
The index nevertheless reflects an expansion of economic activity for the 31st consecutive month, the ISM wrote in a statement adding that the April figures also reflect a trend of activity to "slow further." The median forecast of analysts gave a less marked decline of the indicator, to 60.0.
The ISM Chicago extent the perception that industry in the region of the economy. He is said to be usually a good indicator of changes in the barometer of activity at all the United States. For the association, the fact that the index has declined for the second consecutive month and that this decline has been driven by a sharp fall in its component measuring the production incentive to "be more careful about the erosion of application that continues, even if the backlog increases "for area businesses.
Russia plans to give the International Monetary Fund (IMF) additional resources of over ten billion dollars but the exact amount will be determined in coordination with other emerging BRICS group says, has Saturday announced the Russian Minister of Finance.
"We have already said that the minimum contribution (Russia) would be 10 billion, the question now is to change this amount of increase to reflect the need for additional resources of the IMF" said Anton Silouanov to the press.
"We will coordinate with our colleagues in the BRICS and decide together what we can do," he said on the sidelines of a meeting between the IMF and World Bank in Washington.
The group said BRICS includes Brazil, Russia, India, China and South Africa.
The G20 countries have pledged Friday to provide the IMF additional resources of $ 430 billion to address the debt crisis in the euro area.
According to Anton Silouanov, most of this amount, $ 362 billion, had already been promised before. "We have about 70 billion" to distribute among the contributors, he said.
Emerging economies, which were far more recipients of aid, this time have joined the effort, even if they expect, in return, that their weight within the international financial institutions increased at the expense of that of Europe.
NEW QUOTAS
The G20 committed on this road Friday, promising that the voting rights of emerging nations, called quotas, will be raised at the summit of the IMF scheduled in October.
Russia welcomed the decision, even though she was careful not to make quota reform as a precondition for the payment of its contribution. The new quota system must be clear and understandable, insisted Saturday the Russian Minister of Finance.
"We propose that the quota calculation is based primarily on two main indicators, the size of gross domestic product (GDP) of each country and the volume of their gold reserves and foreign currency," said Anton Silouanov.
If such criteria were to be retained, Moscow's influence in the IMF would increase considerably, with Russia third of global foreign-exchange reserves, with 516.7 billion dollars.
Some countries of the BRICS group said, however, have argued in favor of a better consideration of the weight of GDP, acknowledged Silouanov.
"Many countries believe that further dialogue in this area. Some countries have a quota have no interest in it is recalculated and prefer, obviously, that we keep the current formula, without bring change, "he said
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Molson Coors Brewing will buy the fund CVC Capital Partners brewer of Eastern Europe StarBev to 2.65 billion euros, the U.S. group is keen to develop its presence in the market s emerging.
Molson Coors has prevailed over the Japanese Asahi Group, which was not willing to pay more than three billion dollars for StarBev, according to people familiar with the matter.
The U.S. brewer is mainly present in mature markets such as USA, Canada and Great Britain with brands such as Carling, Coors Light and Blue Moon.
With this acquisition, expected to be accretive in the first year, the share of emerging sales expected to rise from the bottom of a single-digit margin to around 15%, estimated Molson Coors.
StarBev is present in the Czech Republic, Serbia, Croatia, Romania, Bulgaria, Hungary, Montenegro, Bosnia-Herzegovina and Slovakia.
Nevertheless, analysts are wondering about the synergies of the transaction, which is why the action lost nearly 3% to 44.35 dollars on Wall Street.
"Being present in emerging markets is positive but this acquisition seems quite devoid of potential for synergies," said Kaumil Gajrawala, an analyst at UBS.
The transaction represents about 11 times Ebitda of StarBev, 241 million euros, which also carries a turnover of 700 million euros.
CVC bought StarBev to Anheuser-Busch InBev, the world's largest brewer, in December 2009 and had sold given the interest shown by several brewers among which, besides Asahi is believed to know, were Carlsberg, Heineken and SABMiller.
CVC had paid for its acquisition of approximately $ 2.2 billion.
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."
The U.S. economy created 734,000 jobs in three months and over a million in five months. As a result, experts are beginning to revise their growth forecasts upwards.
Once again the United States are surprisingly dynamic. They experienced in the month of February a new massive hiring, confirming the scenario of a widespread economic recovery. The government says the country has indeed created 227,000 more jobs than it removed in February, which is higher than the net balance of 206,000 that gave the median forecast of analysts. The net job creation is well above 200,000 for the third consecutive month.
The hiring of January have not enough to lower unemployment, which remained at 8.3%, its lowest level for three years, according to official figures released Friday in Washington.
In theory, the strength of job creation should lead to lower unemployment. This has not occurred because the labor force increased as much (0.3% compared to January) that the number of employed persons, according to government figures.
However, unlike previous upturns, the number of hours worked across the Atlantic is recovering strongly. This number of hours has already recovered its pre-crisis level and will continue to climb, because the stock of workers who say they work part time for economic reasons will melt slowly. "The expert consensus expects U.S. growth between 2 and 2.5% for the next three years. However, the U.S. will probably a little better ", the experts conclude Deutsche Bank
. The Ministry figures show that in February, employment grew in all sectors except retail trade, construction and public service. In the latter, job losses, which are the norm for over a year , have slowed considerably since there were only 6,000 per month from December to February, against more than 20,000 from September to November. The employment report further states that the average hourly wage increased 0.1% from January to 23.31 dollars. On a year, says the Ministry, the increase in hourly wages was 1.9% which remains below its most recent measurement of the inflation (2.9% yoy in January)
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Wall Street opened slightly higher on Thursday after figures showing that weekly jobless claims remained close to a low of four years, but investors will need other incentives to buyers remain after the gains accumulated since early 2012.
In early trade, the Dow advanced 0.48% or 61.98 points, to 13,014.05 points. The Standard & Poor's, wider, gained 0.48% (6.58 points) to 1,372.26 points while the Nasdaq composite risen by 0.45% (13.45 points) to 2,980.34.
On February, the S & P 500 benchmark index fund managers, took 4.1%, the Dow 2.5% and Nasdaq 5.4%.
That said, as this bull cycle is built on trade volumes lean, many players anticipate a downtrend market in the short term.
"We are on a sacred launched two months ago and, at some point, it will pause. In previously published data, there was nothing that could trigger a movement in one direction or the other, "said Wayne Kaufman, chief market analyst at John Thomas Financial
. The weekly jobless claims fell slightly in the U.S. during the week to 25 fe February, to stand out as expected at 351,000, close to a low of nearly four years, announced Thursday the Labor Department
…… But … consumer spending adjusted for inflation emerged unchanged for the third month following January, a trend that could raise questions about the country's economic outlook, the household expenditure constitutes one of the main drivers of the U.S. economy.
At 1500 GMT, was expected ISM manufacturing index and construction spending.
In the area of distribution, as Gap took 10.18% to 25.74 dollars after the chain of clothing stores reported an increase in February for its constant-store sales for the first time in eight months.
The action of Ford advanced 2.18% to 12.65 dollars in anticipation that the builder had a very good month of February in terms of vehicle sales in the United States. The group will release its monthly figures during the day. Chrysler has already reported a jump of 40% of its U.S. sales last month.
Some doctors in French public hospitals do not hesitate to charge transactions at prices well above normal. The hospital in Lille Claude Huriez
A cataract operation charged 1,490 euros, while Social Security pays only 272 euros? This is not the price of a private clinic, but rather that of the Hotel Dieu in Paris. A public hospital. And these seem to be common practice, according to a study published in the magazine "60 million consumers," which highlights the excess fees to certain astronomical practitioners. Hospital doctors more greedy and round their monthly income to the tune of 70,000 euros per year.
This shift is made possible by the Debré Law of 1958, which allows practitioners to hospital to have a private practice in public institutions, up to 20% of their time. Some have therefore fully optimized, such as a knee operation, paid 555 euros for social security, and charged 6000 euros. Specialists in knee and hip have understood the principle: for a transaction of this type, the rate can reach twelve times the amount reimbursed by the safety!
These practices are also not gone unnoticed, and the owner of health insurance, Frederick Roekeghem wrote to doctors whose rates are excessive. With the threat of a sanction if the National Council of the order does not act quickly. Meanwhile, the patient is the first victim of these abuses.
The European Union sent a warning to the first five members may not meet the fiscal rules next year, said Tuesday Olli Rehn, the Commissioner of Economic and Monetary Affairs.
To reporters, he said to expect that the states concerned – Belgium, Cyprus, Hungary, Malta and Poland – take appropriate measures to rectify the situation.
Olli Rehn also said that the European Commission would ask the powers that control expanded to state budgets in the euro area does not infringe the European fiscal rules.
"Tomorrow the Commission will present two proposals that will bring more stability to fiscal policy in the euro area," said he, as the text of a speech.
"The first proposal seeks to promote a national culture of stability (in the member countries) requiring numerical rules on fiscal balance that are in line with the medium-term objectives of the Stability and Growth."
The pact – which sets the European fiscal rules – in the medium term provides a budget close to balance or in structural surplus (excluding debt service).
The Commission urges that these rules are transposed into national legislation, preferably in the constitution.
The referendum is a bad idea that falls at the wrong time (…) because the market was hoping to see unity within the euro area, "Judge Lionel Garden, head of institutional sales at Assya Capital, for whom" post-rally seems definitely over the top. "
The announcement of a further slowdown in manufacturing activity in China and its potential effects on the global economy added to negative sentiment, while the bankruptcy of the broker MF Global, the first American victim of the major European crisis debt, disrupts the futures markets around the world.
In the trend, Wall Street is expected to open sharply lower.
The resurgence of risk aversion benefits primarily German government bonds (Bunds) which yields relax.
China's interest to invest its surplus in the European Union to help overcome the debt crisis, but this implies no political concessions, said Sunday Jean-Claude Juncker, President of the Eurogroup.
After the agreement on the enlargement of the European Financial Stability (EFSF) reached at the EU summit Wednesday, Nicolas Sarkozy said that Beijing had "a major role" in resolving the crisis, which resulted rise to strong reactions.
"The fact that China and others to be involved in a global solution does not worry me at all because China has a surplus incredibly important and it has an interest to invest in Europe" said Jean-Claude Juncker on the antenna of the German channel ARD.
"It will not happen under a hard bargaining which would imply that we must give something back to China.
"Even if China and other investors do not participate (in solution), the decisions we have taken are sufficient to enable us to overcome only the debt crisis," he added.
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