Posted by admin | Under events, features, international, resources, special
Friday May 17, 2013
Posted by admin | Under economics, international, money, opinions, people
Sunday Mar 10, 2013
First satisfecit for Shinzo ABE1. The Japanese government announced on Thursday that the GDP of the archipelago had increased 0.9% 2, or 3.5% annualized pace in the first quarter of 2013. Greater than the growth of all other G7 countries over the same period jumped. And an impressive success for Abenomics3 this iconoclastic economic policy implemented by Prime Minister Shinzo Abe since his return to power last December. He had found on his arrival an economy near recession, with very little prospect of recovery. The adoption under its aegis a ultralaxiste4 monetary policy and a huge stimulus plan publique5, has resulted in an impressive decline in the yen (20%) coupled with the Nikkei off (45%) since his arrival .
Two results in a few weeks, as its predecessors have spent years trying to achieve. These successes led to a shock of confidence in a country that previous governments perceived as helpless and incompetent, were confused. The recorded in January-March growth, driven by rising consumption and exports shows that the Japanese "believe." The Government notes that the Japanese leisure spending surged last six months. "The effects of the economic policy of Shinzo Abe begin to feel" welcomed the Minister Akira Amari economic Thursday. The country is now waiting to be launched "third arrow" program Shinzo Abe: an industrial restructuring program expected in June.
Posted by admin | Under Uncategorized, economics, finance, online, top news
Thursday Mar 7, 2013
The trend is clear. With the exception of the Crédit Agricole Group (Regional Banks and LCL), and the young Postbank all retail networks in France stalled in 2012. The traditional mainstay of the bank …
Posted by admin | Under life, opinions, people, special, world
Sunday Feb 17, 2013
The news did not go unnoticed and gives rise to many comments already. Speaking Wednesday at the Grand Paris, Prime Minister Jean-Marc Ayrault, said the government would "consider increasing parking spot fines for the benefit of public transport authorities." Clearly, for Jean-Baptiste Le Dall law specialist automotive, "we would move towards decriminalization of parking for a fee at the map according to the cities." It evokes a penalty would increase from 17 euros to 30 today or 35 euros. And if this reflection is launched on a project on the Ile-de-France, it could affect oil stain and across the country.
This project involves the local communities that necessarily benefit from part of the proceeds of fines faxless pay day loans. By increasing the rate of punishment, they will be thus assured resources juicier. A perspective which angers me to Le Dall. "We still takes motorists," protested he describes as "the infernal machine which will get under way."
"Cities have an obvious interest to verbalize. Fines will rain and that price, offenders will no longer risk of not paying, "he said, reflecting on the consequences of such a measure. "If you leave the judicial sphere, how will we challenge for his fines?"
Posted by admin | Under Uncategorized, economic, events, opinions, resources
Thursday Jan 17, 2013
"Significant risks persist and global growth is still too low with persistent unemployment at unacceptably high in many countries." This is the warning that the finance ministers and central bank governors of the twenty richest countries in the world have made their statement after their meeting chaired by Russia, Saturday in Moscow.
Admittedly, the IMF (International Monetary Fund) has just raised its growth forecast for the world in 2013 from 3.25% to 3.5%, said the Russian Finance Minister Anton Silouanov. "But if we fail to stay on this positive note, there is a danger of return to recession," he warned. Echoing the minister Pierre Moscovici welcomed "the projector is no longer pointed at the euro area" and "ability to survive" but joined the collective diagnosis of "low growth" and "low employment" as are the main risks to the global economy. In the first paragraph of the release, the two countries explicitly mentioned for the "uncertainties fiscal situation" are the United States and Japan.
Balanced budget target in 2017 "intact"
In this context, the G20 countries have somewhat eased off on the objectives of reducing budget deficits and public debts. "Taking into account the deterioration of the economy should allow us not to add to the austerity of the recession," said Pierre Moscovici. His Russian colleague recognized in 2010 when the G20 pledged to Toronto to halve deficits by 2013 "our expectations were quite optimistic." "Commitments Toronto" are not explicitly mentioned in the Moscow Declaration. The advanced G20 countries will present to the Summit of Heads of State, held in September in St. Petersburg, "the medium-term budgetary strategies credible" "taking into account the short-term economic conditions," the statement said. In France, it is a blank check a posteriori for not meeting its commitment to a deficit of 3% of GDP this year? The conclusions of the G20, said Pierre Moscovici, demonstrate "that we seek a balance between the serious budget that we do not give up" and the need "to maintain growth in the short term." The objective of a balanced budget in 2017, recently reaffirmed by Jean-Marc Ayrault "absolutely intact," stressed the head of Bercy.
In the search for a global rebalancing, the G20 countries called "surplus" (like China or Germany) to "boost their growth." Are explicitly covered "the major producers of raw materials," such as Russia and Saudi Arabia, also a member of the G20.
It is also the name of the preservation of growth that G20 countries have committed themselves not to use "competitive devaluation." Taking over the statement issued Tuesday by the G7 on the "currency war", the G20 commits to move "more rapidly to a rate of exchange determined by the markets." Ensuring that its monetary policy, causing concern about competitive devaluations in recent weeks, Japan "is in line with our vision of political change," said the Russian Minister commented diplomatically.
Pierre Moscovici and has concluded, "the G20 is not an instance spectacular" but the right place with the "right people" to debate between "old and new economic powers" to build a "more controlled globalization". The G20 represents 90% of global GDP and 80% of world trade.
Other topics discussed at the G20
– Tax evasion large companies
Under the joint initiative of London, Paris and Berlin, the OECD (Organisation for Economic Cooperation and Development) published a report earlier this week décorticant tax optimization strategies of multinationals which Google has become the symbol that benefit legislation in countries such as Ireland, the Netherlands and tax havens. Bilateral agreements originally intended to avoid double taxation of companies leads to a "double non-taxation." "In times of difficulty, when states need revenue, and that large firms are missing, the burden falls on SMEs," summed up Saturday in Moscow Angel Gurria, Secretary General of the OECD. The diagnosis. The next step is the most difficult, is to act. The OECD will present an action plan for the next meeting of the G20 Finance in July in Moscow. One of the axes is proposed to revise part of a 3000 bilateral tax treaties through multilateral action. A project that, according to the OECD, could be implemented in two years.
Financial regulation is increasing in small steps
The importance of this vast site has become in the eyes of the world after the financial crisis. The G20 communiqué "urges all jurisdictions" to adopt the Basel III standards that enhance the financial security of banks, "as soon as possible." The United States is committed to implement by the end of the year, welcomed Christian Noyer, Governor of the Banque de France. Pierre Moscovici, who was the keynote speaker of the Working Group on Financial Regulation cited the example of the banking law that the National Assembly in the first reading debate on the eve of the landing of the minister in Moscow.
In addition, the Financial Stability Board (FSB English) instance hitherto informal group finance ministers, governors of central banks and market regulators G20 over other states like Hong Kong, has been given the Last month an official status. Its secretariat is hosted by the Basel Bank for International Settlements (BIS). Among other tasks, the financial arm of the G20 was to oversee the reissue avoid manipulation of rates such as Libor.
IMF reform blocks
Among the projects initiated in the framework of the G20 Finance reform the International Monetary Fund (IMF) to give greater weight to emerging and developing are being blocked. "Many countries are losing were against" reform, said the Russian Minister Silouanov. According to a Brazilian journalist, Brazil complained of obstruction of Europeans on this issue. Revision of quotas which should be completed in January, is postponed for one year. "You have to change the world Coptic and weight of emerging countries," pleaded Silouanov Anton, the host of the conference.
"Understanding the" currency war "
"At the G20, France pointed to the cost of work
"G20: the United States criticized the presence of Argentina
Posted by admin | Under Uncategorized, economy, international, life, opinions
Saturday Jan 12, 2013
This is a small revolution in the world of finance. Europe will finally set limits on credit rating agencies, which have long rain or shine on the financial markets. The three main agencies (Standard & Poor's, Moody's and Fitch) representing 90% of the market, will now impose greater transparency and may be held accountable for their mistakes.
A large majority of MEPs (579 votes against 58, with 60 abstentions) has adopted the text presented Wednesday by the Italian Socialist Democrat Leonardo Domenici. Here's what to remember that these new rules will come into force this year, when the European Council has voted to turn the text.
• The transparency above all
Not always easy to understand rating system for these agencies. They have been asked to publish "research report" when issuing a sovereign rating. In the interests of transparency, this report must be "publicly accessible, clear and understandable," says the text voted.
• notations, but not anytime
Agencies can not issue more than three unsolicited ratings throughout the year. When marking States, they should do on dates fixed in advance. Thus, the assessments will be published on Friday, after the markets close in the EU and at least one hour before reopening. The text also states that voted "the rating agency credit institution shall inform the rated entity (…) so that it has the ability to report to the agency any factual errors."
• Agencies responsible now
Agencies must be vigilant before distributing their rating. In fact, they will now be civilly liable if they make mistakes. In other words, investors who feel aggrieved by the rating will sue the agency has violated the rules of this law. For example, if a conflict of interest in issuing a rating.
• Limiting the power of agencies
"In recent years, investors and states have become too dependent on rating agencies. On several occasions, their sudden announcements led to speculation harmful financial markets, exacerbating the crisis in the euro zone, "said Italian Socialist MEP Leonardo Domenici.
MEPs therefore encouraged investment firms and credit institutions to develop their own scoring system. The European Commission should also consider creating European assessments of creditworthiness, says the text.
• The hunt for conflicts of interest
The interests of the agencies in the rated entities will be capped. A shareholder holding 10% or more of the capital of an agency can not have 10% or more of the capital of the rated entity. In the same logic, a shareholder may hold shares of more than 5% in more than one credit reporting agency, unless these agencies belong to the same group.
Some say it was time to limit the omnipotence of these agencies. They have also been heavily criticized, notably for helping to trigger the financial crisis of 2008, giving the best financial rating (AAA) for impaired investments. Since, in a crisis of the euro area, their activity is often viewed with suspicion. Especially when they degrade the note of a country whose access to credit, as was the case in Greece, becomes much more difficult.
"DOCUMENT The text adopted by the European Parliament
"Moody's sanctions the absence of structural reforms
"The" triple A "of Germany threatened by Moody's
"France loses its AAA, Germany keeps
Posted by admin | Under economy, money, opinions, publications, world
Wednesday Jan 9, 2013
God that was painful childbirth! All for it, let go the most critical, starting right where many would have preferred that the negotiations, which began in October, ended in failure. Failure showing a little emptiness of executive policy in general and the "new social model to the French" promised by Jean-Marc Ayrault in particular. The left of the left and the more radical unions (CGT and Solidarity in mind) have the same feeling but draw different conclusions. They will not fail – as they have since the early exchanges between unions and employers – to castigate the new gift business, minimizing the advances in new rights for employees, and predict the next dismantling labor law .
These internal opponents to call François Hollande also correct parliamentary law (transposition) of the agreement that the government will in March, slashing naturally in the flexibility and strengthening one dedicated to security, beginning with a ban on stock layoffs. As the President of the Republic, he will salute the courage shown by the social partners than their differences with this compromise ambitious promise more than ever the French curve inversion unemployment "within a year" as it does now for six months.
No tsunami on the horizon
The truth will lie, as usual, between these extremes. The draft agreement – because it is at this stage that a draft agreement – not cause any tsunami. Or deregulation of the Labour Code, or flexibility for businesses. It will allow employees to just a little more secure their rear (rechargeable rights, complementary health, personal account of training …) and companies to adapt more easily (agreement continued employment, employment tribunal conciliation, internal mobility …). Neither more nor less. And especially not to cause a wave of recruitment (because the CSD will be taxed a little) or remove social plans (because the unions are associated with strategies of major companies).
The only justices of the peace, one might say, will the markets and rating agencies calling for months for a radical reform of the labor market. Their views on the flexibility instruments found by the social partners to address the ills of French lack of competitiveness and fluidity of the labor market depend on the confidence that we provide in the future foreign investors and, through it, the salvation of France.
"Unions and employers have finally reached an agreement
"Taxation: the state, abuse of CSD, will not be affected
Posted by admin | Under features, international, life, online, resources
Monday Jan 7, 2013
Trade Minister, Sylvia Pinel, kicks-off on Wednesday balances in the new mall So West, Levallois-Perret, and not in department stores on Boulevard Haussmann in Paris, as was the tradition. Another change: the French have ever intend to turn to the Internet to find bargains. 60% of them sure that they buy on the web for winter sales, against 54% in 2012, according to a study by the Federation of e-commerce and distance selling (Fevad). 7% of them, it should even be the only vector shopping (5% in January 2012).
Rush stores should still take place. Two thirds of French (66%) say they intend to use this time off to do their shopping, according to a BVA poll for Les Echos, 5 points more than last year. "January 2013 should be a very good year in terms of amounts of expenditure for these balances," has said the pollster, who interviewed the 7th and 8th January 1230 by phone and internet people aged over 15 years. In fact, the price could be reduced from 60% to 70% in the early days.
The average budget spent by the French during these balances should also be the highest for three years with an average expenditure of 234 euros envisaged, against 221 euros in January 2012, says BVA. But inequalities between age groups are important because the 15-24 should spend less (175 euros 150 euros this year against last year) and 25-34 years whose budget balances increased from 234 to 228 euros. Conversely, the envelope of 35-49 years increased by 9 euros. Similarly, differences in income levels are increasing as those who earn less than 1,500 euros should tighten their belts. And men should spend more money balances than women (249 euros, against 223), according to the survey.
"The clothing has not finished with the crisis
"The French hope to capitalize balances
"Too balances killed balances
"Online shopping: nearly two weeks of time to think
Posted by admin | Under business, life, money, news, opinions
Wednesday Dec 26, 2012
Two billion more to try to stop the rise in unemployment by the end of the year, single presidential pledge for 2013. Budget Minister Jérôme Cahuzac announced Sunday that the budgetary reserve of 6.5 billion euros will indeed reach $ 8.5 billion to strengthen the means to fight against unemployment.
"There are some days that the President and the Prime Minister have decided to increase the precautionary reserve of 2 billion more, detailed Jerome Cahuzac at the" Grand Rendez-Vous Europe 1/The Parisien/i- TV. " We believe, particularly for employment policy, it will take us more money. "
These 2 billion will not come widen the deficit, they will be taken from the budgets of other departments. For this, there are, said the minister, "Inter taxation, that is to say, we asked each minister, in proportion to the budget that has been allocated to sell a portion of appropriations specifically for finance what we now believe to be a priority. "
Draw on reserves
Given the bad economic times in 2013, there is no doubt that the executive will draw on this reserve to improve its chances of stabilizing job losses. "All our forces are stretched towards one goal: to reverse the curve of unemployment by one year guaranteed high risk personal loans. We will do this at all costs, "and had said François Hollande vows at the French last December 31. For now, INSEE foresees a kerf only 75,000 jobs during the first half of the year and this table horizon on an unemployment rate of 10.9%, against 10% currently.
The wealth of 2 billion euros would strengthen the government's plan threefold against unemployment. In addition to reforming the security of employment, currently being negotiated by the social partners and the effects will be felt in the long term rather, the executive has launched contracts generation will not turn full this year. In the short term, it has therefore focus on the jobs of the future. This device, which aims to create 150,000 jobs over two years for young untrained cost $ 1.5 billion. The funds provided by the budget minister would then, for example, more than double the size of the program.
"The 75% tax would apply for five years
"Unemployment little room for government
"Holland promises" the great battle of employment "in 2013
"The 2013 calendar jobseeker (The Individual)
Posted by admin | Under business, life, news, people, publications
Tuesday Dec 18, 2012
China revives its projects XXL. Beijing opens Wednesday longest high-speed line in the world, linking Beijing to Guangzhou in the south of the country, some 2300 miles away. The train, which will spin averaged 300 km / h, will fulfill his trip to just eight, against more than twenty hours with the existing trains.
The Ministry of Railways heard a bang launch one of its iconic lines. This is also an opportunity to burnish an image tarnished by the seriously tragic accident in Wenzhou, where the collision of two trains launched at high speed caused the death of forty people in July 2011. Shocked by the attempts of local officials to cover the balance of the accident, the Chinese public has launched an unprecedented mobilization on canvas, demanding accountability to the government. The central government then froze many projects, dispatching inspections across the country to ensure the security of railway facilities and reducing train speed faster than 350 km / h to 300 km / h.
Journalists urge to photograph the train of high speed train. Photo credits: STR / AFP
Since his arrival in May, the government promised that it will drastically curb government spending. To meet its commitments to the front of public finances, it ensures that it will save 50 billion over the five year period – including 10 billion from quick payday loans…