International Business News

On the eve of the 51th Paris Boat Show, the uncertainty is set at the manufacturers of pleasure boats in 2012, the sovereign debt crisis with little visibility, while the water sports market has improved slightly in 2010 / 2011.

French production increased 11% between September 2010 and August 2011, compared to the same period in 2009/2010, while the world market has increased slightly from 0% to 3%, said the Federation of Nautical Industries ( FIN).

"We are in a somewhat unique because our customers are there, the practice is growing, but at the same time we are in a period when accumulated outside the marine industry factors of concern," said Yves Lyon Caen, Vice President and President of the END of the supervisory board of Beneteau.

"The day there will be a release of the brakes, mainly psychological, the industry will rebound very important," he pointed out, however.

The rate of exports is 67% in 2010/2011, against 63.2% a year earlier.

The field of business has expanded in a broad way, and one area that is common is the business of financing people who are on paychecks. The opening in this business has grown to a greater extent, and now, people have limitless options, including one of getting payday loans online.

U.S. GDP grew by 2.5% in the third quarter, annualized. This level was accelerated by the rise in household consumption and private investment. Barack Obama at the press conference on July 15, 2011 on U.S. debt

GDP figures published Thursday in the United States show a marked improvement in U.S. growth and suggest a strengthening of the recovery, indispensable prelude to a decrease of mass unemployment affecting the country. The first estimate of Commerce, the U.S. domestic product grew in the third quarter from 2.5% annualized over the second. The number of government reflects a significant improvement over the spring which saw growth rise to 1.3% after falling 0.4% recorded in the first quarter.

The period July to September is the best quarter of the U.S. economy since the summer of 2010. The ministry said the growth was driven by the acceleration of private consumption and private investment excluding housing, which combined made up 3.3 point rise in GDP. The main obstacle to the improvement of gross domestic product was slowing, very strong, the increase in business inventories, which lost 1.1 points of growth.

Peter Newland, economist at Barclays Capital, the sharp change in stocks of summer is "a sign that companies have responded quickly to the weakness of domestic demand in the first half, and it is unlikely that [the slowdown in output stored] is repeated in the fourth quarter. "

Theolia is now ready to consider acquisitions of wind farms with actors who would experience financial difficulties, said Friday its general manager, Fady Khallouf.

Operations could be done at reasonable prices given the current economic environment, said in an interview with Reuters the owner of the French specialist in wind, on the brink of bankruptcy in 2010 and during recovery.

"A number of actors have tried to develop parks and reaches a certain point, but are weakened by the current economic climate.We have the ability to take over projects and to accelerate, "said Fady Khallouf.

"There are a number of new opportunities from the current crisis (…) We look at a number of topics, it can be small things or things more consistent."

The uncertainties surrounding global economic conditions even strengthen the group's strategy.

"When there are economic difficulties and a number of concerns, both in terms of energy, environmental or financial, I see them as opportunities for us," said Fady Khallouf.

"The fundamentals are stubborn"

"The fundamentals are stubborn. In Europe, production capacity and an older (…) we will have to invest.Whichever way you look at the production, there will be an increase in electricity prices.From there, the wind can no longer be considered a subsidized activity but to be sufficiently close to the market price trend, "said Fady also Khallouf.

"Instead of pretending not to see and panic in a few years, I think all actors – authorities, industrial and financial – have an incentive to engage in reasoned dialogue (…), even if the energy renewables will not displace completely the traditional means."

Fady Khallouf further indicated that his group was about to welcome a new partner in the investment vehicle Theolia Utilities Investment Company (tuica), he has established with the Swiss electrician IWB Industrielle Werke Basel (IWB) to finance wind projects in France, Germany and Italy.

"We are finalizing the entry of a new actor of the same size qu'IWB (…). It is a 'utility' Europe is the 'cross-boarder", he said, considering a deal "imminent".

"This vehicle is intended to go perhaps in other European countries as opportunities (…).It has been so successful that I am asked by various stakeholders who wish to enter, "said Fady Khallouf, which emphasizes, however, at first a round of stabilization and effective launch of its business.

POSSIBLE INCOME IN 2013

Tuica, for producers and distributors of electricity, will have 100 million of capital invested and may use project finance, with the aim to invest over 300 million euros.

Held so far to 70% and 30% Theolia IWB, it will acquire wind projects with the French group, which will ensure the development, construction and operation of the life of the parks and collect a fee for each of these benefits.

Theolia has been profitable than in a single year, in 2010, the mechanical effect of the capital increase, but could generate a net profit in 2013 if the crisis does not delay some of its projects said Fady Khallouf.

"As and when we succeed in achieving the goals I set, we will also have the ability to attract more investors and in that time, the question will arise whether to increase capital or not, or some other scheme that could be to expand the investment vehicle, "he said.

"It will not arise in 2012, we have sufficient cash resources and a very healthy."

The current monetary policy of the ECB and the euro boosted hurt German exporters, said the Nobel Prize in economics. Joseph Stiglitz

The American economist Joseph Stiglitz, Nobel Prize in 2001, called the European Central Bank (ECB) to lower its key rate, in an interview published Monday in the German daily Handelsblatt. "The ECB should withdraw its previous increases" in April and July, which increased its key rate from 1% to 1.5%, said Stiglitz.

The economist, known for his critique of liberalism hardcore, says Frankfurt institution should take more account of its American counterpart, the Fed, which intends to maintain its rates at 0% for two years. "The current monetary policy of the ECB pushed the euro and hurt German exporters," he said.

Economists now expect the ECB no longer affects the rate of interest this year because of the new outbreak of the debt crisis, whereas before the institution seemed determined to further tighten its monetary policy in the fall.

Stiglitz has also reiterated its view that if the eurozone were to implode, "it would probably be better than Germany left the monetary union rather than to expel Greece."

The economist also expresses once again in favor of European bonds or "Eurobonds", "a good instrument to control the crisis."

The president of the association of German exporters (BGA) Monday urged the leaders of Germany and France to agree on the creation of common bonds in the euro area at the bilateral summit planned Tuesday in Paris.

In an interview with Reuters, the head of the BGA Anton Boerner said that without the "Eurobonds", as Berlin refused so far, there was a risk that the debt crisis in Europe leads to a global depression.

"We need to show markets that we are ready to use the right tools, that is to say Eurobonds signed by Germany," he said.

"We need Eurobonds under strict conditions," he added, mentioning the introduction of "golden rules" budget in the constitutions of all countries in the euro area.

"We need it, and we need it quickly," he said Anton Boerner, who called for the issuance of these common bonds of unlimited volume.

Citing unidentified sources, the German daily Die Welt reported this weekend that the German government began to consider the idea, but senior ministers of the government of Angela Merkel agreed that the time was not ripe for think about it.

Chancellor Angela Merkel will meet Tuesday in Paris President Nicolas Sarkozy for making "joint proposals on the reform of the governance of the euro area before the end of the summer."

Swedish bank Swedbank said Thursday an operating profit better than expected second quarter and still expected a gradual improvement in its profit before provisions.

The bank generated an operating profit of 4.32 billion kronor (474 ​​million), nearly double the rate published a year earlier, while analysts polled by Reuters had anticipated 4.10 billion crowns .

Its net banking income has increased for the fourth consecutive quarter to 4.7 billion kroner, beating consensus (4.6 billion).

Swedbank also reiterated a forecast continued recovery in the Baltics, Russia and Ukraine.

An intense battle promises to be commercial in the second half of the French automotive market after three consecutive months at half of registrations, a situation still due in June at the end of scrapping.

The new car registrations in France declined last month from 12.6% to 210,236 units, said Friday the Committee of French Automobile Manufacturers (CCFA).A comparable number of working days – June 20 working days counted against 22 in June 2010 – the decline amounted to 3.9%.

Throughout the first half, sales were up slightly, by 1.0% unadjusted and 0.2% at comparable number of working days, a legacy of boost deliveries in the first quarter of the last cars ordered before the end of public support to combat the crisis.

"The market held up well in the first half, but the backlash of stopping the scrapping will be felt especially in the second half," said Flavien Neuvy, director of the observatory Cetelem of the car.

"It is clear that in order intake, sales to individuals down significantly.So we will see probably a commercial battle more intense on the second part of the year to maintain market share. "

He cites as evidence the recent offer of Renault, which offers a two-month Twingo gasoline to less than 7,000 euros in return for the resumption of an old vehicle or a total discount of 30%.

In France, Chevrolet (General Motors) has also tried to relay the impact of state aid in June with several discounts for a "cash for clunkers Chevrolet."

SUPPLY PROBLEMS ON RENAULT ENGINES

If they still monopolize the first half of the eight top spots for best-selling cars in France – led by the Peugeot 207 / 206 +, followed by the Renault Clio and Mégane – the two French manufacturers have suffered more in June their foreign competitors.

PSA Peugeot Citroen and Renault, whose small models have benefited the most from scrapping, saw registrations fall by 17.9% last month, against – 5.1% for foreign manufacturers.

The decline was exacerbated by supply problems still faced by Renault (-29.3% in June against 8.2% for PSA) on its small diesel engines manufactured in Spain.

The OEM sector, shaken by the crisis, is struggling to increase its capacity to deliver some components of the group, difficulties prior to the disaster of March in Japan. The Clio and the Duster, the Dacia 4×4, are particularly affected.

Low cost brand Renault (-44%) is also affected by the drop in demand for the city since the cessation of Sandero bonus GPL.

"We continue to nibble beforehand acquired earlier this year with state aid, but otherwise it's a good month," summarized the spokesman for the CCFA.He said in June the development is consistent with the estimate of the Committee of a decrease of 8% of the French market on the whole of 2011.

Last month before the big break for summer vacation, June marked a slowdown in the decline since the market decline was 8.3% on a comparable basis in May.

Utilities on the market, sales of light vehicles were packed from 10.1% in raw data, while the rebound in commercial vehicles continued with an increase of 36.7%.

The investment company Wendel said Thursday it had made an offer to acquire Mecatherm, the global leader in equipment for the bakery.

Through its subsidiary Oranje-Nassau Development, Wendel became exclusivity period with funds advised by the Alpha Group to finalize the transaction that values ​​Mecatherm to 170 million euros, nine times EBIT (earnings Operating net of goodwill).

The transaction is expected to close in the third quarter of 2011, the company said in a statement.

Founded in 1964, employs approximately 300 employees Mecatherm in R & D laboratory and three industrial sites in France.

The trip by Christine Lagarde, candidate for leadership of the IMF is funded by the state. The duck was chained estimates the cost of 46 000 kilometers traveled. Christine Lagarde, here on his arrival at Brasilia on Monday 30 May, where she defends her nomination to head the IMF, the first stage of a tour seeking support from major emerging countries.

150 000. That is what is expected to cost French taxpayers, the campaign of economy minister to run for head of the IMF, according to an estimate of the chained duck.

Brazil to Egypt via India and China, Christine Lagarde had traveled nearly 46,000 miles from May 30 last. The weekly was therefore based on first-class fares charged by Air France to assess the price of these displacements in all directions. The total is estimated at 38,400 euros.

To this amount must be added the ticket prices of its three companions (his security officer, his communications officer and his advisor), amounting to 115,200 euros. The campaign of Christine Lagarde around the world would be tantamount to 153,600 euros for the French taxpayers.

DSK's campaign had it, cost 48,000 euros

The site 20 minutes, which took over the information, said however that this amount is probably a little lower. Indeed, Bercy could benefit from preferential rates from the airline.

Adding salt remains as it takes into account neither the cost of restoration, nor housing. In 2007, the government also funded the campaign DSK. The former Socialist candidate had yet taken office "services to an American agency lobbying and communicating those of its French," reported Le Canard chains.The bill now approaching 48 000.

The Tokyo Stock Exchange ended down 0.42% Friday, weighed down by the strong yen and a sharp decline from Sony after the electronics giant said Thursday forecast below expectations.

The Nikkei lost 40.11 points to 9,521.94 and the Topix broader yielded 2.18 points (-0.26%) to 824.90.

The Japanese stock market but have erased some of its losses thanks to the good performance of banking stocks following a Financial Times article saying that banks could escape some provisions of Basel III.

Action Mitsubishi UFJ Financial Group took 0.8% to 377 yen and that of Sumitomo Mitsui Financial Group (SMFG) rose 0.9% to 2,363 yen.

The title Sony ended down 3.17% to 2.167 yen after the group said it expected a net profit of 80 billion yen (690 million euros) for the current financial year, while analysts had forecast previously a net profit of 105 billion yen.