Archive for January 18th, 2012

Provokation aus New York (lostineurope)

Wednesday, January 18th, 2012

Das Downgrading für Frankreich zeigt einmal mehr, dass die Ratingagenturen mit ihren Urteil Politik machen und die Märkte manipulieren. Just in der Woche, in der Frankreich, Spanien und Italien erfolgreich Staatsanleihen platziert haben, senkt S&P in New York den Daumen. Das kann kein Zufall sein, heißt es in Paris. (siehe dazu A. Leparmentier in seinem Elysée-Blog). Auch in Brüssel wundert man sich, hinter vorgehaltener Hand spricht man von einer Provokation.

Provokation aus New York (lostineurope)

Another $1 Billion Won’t Help Buffalo, New York (thenewamerican)

Wednesday, January 18th, 2012

When New York State Governor Andrew Cuomo announced that Buffalo was going to receive $1 billion over the next five years to raise the city from its near-poverty level, local politicians were already dreaming of how to spend the money. Cuomo declared in his second annual State of the State speech, “We must address the crisis in Western New York. It’s gone on too long. It’s going to stop today. We believe in Buffalo and we’ll put our money where our mouth is.”

Cuomo failed to say where the money was going to come from, but that didn’t stop politicians from salivating.

Another $1 Billion Won’t Help Buffalo, New York (thenewamerican)

Airbus freut sich übers Doppelrekordjahr (tagesschau.de)

Wednesday, January 18th, 2012

Produktion für bis zu acht Jahre gesichert - EADS ist eine Wachstumsstory und eine Geldmaschine - Der Luftverkehr sei ein enormer Wachstumsmarkt, der sich trotz weltweiter Krisen alle 15 Jahre verdoppele.

Nach einem Rekordjahr will der europäische Flugzeughersteller Airbus im laufenden Jahr 4000 neue Mitarbeiter einstellen. Rund die Hälfte davon sollen in Frankreich eingestellt werden. “Wir hatten die höchste Auslieferungsrate unserer Geschichte”, sagte Airbus-Chef Thomas Enders zum Erfolgsjahr 2011. Es sei angesichts von Lieferengpässen bei Ersatzteilen - etwa durch das verheerende Erdbeben in Japan - nicht einfach gewesen.

Airbus freut sich übers Doppelrekordjahr (tagesschau.de)

City dwellers exceed villagers for the first time in China (asahi.com)

Wednesday, January 18th, 2012

China had more city dwellers than rural residents last year for the first time in history, data showed, a demographic milestone that also points to strains in labor supply in the world’s No. 2 economy. As many as 51.27 percent of 1.347 billion mainland Chinese lived in towns and cities at the end of 2011, China’s National Bureau of Statistics said. According to U.N. statistics, globally, about 51 percent of the world’s 7 billion population live in cities.

City dwellers exceed villagers for the first time in China (asahi.com)

Los bancos también son culpables (elpais)

Wednesday, January 18th, 2012

Un juzgado de Lleida ha impedido a un banco embargar el salario y las propiedades a dos hermanos marroquíes que se hipotecaron en 2005 para comprar un piso y lo perdieron al no poder pagar las cuotas cuatro años después. El Banco Pastor, que se adjudicó la vivienda en una subasta por el 50% del valor de tasación, les reclamaba 66.000 euros que, supuestamente, debían una vez entregadas las llaves. El decreto, que considera saldada la deuda, señala a los bancos como responsables de la crisis inmobiliaria y se pregunta si no deberían soportar las entidades bancarias parte del descenso que se ha producido en el precio de los pisos. El banco ha recurrido la resolución, dictada el pasado 29 de diciembre.

Los bancos también son culpables (elpais)

London Shrinks Faster Than Any Financial Center as Banks Come Under Attack (bloomberg)

Wednesday, January 18th, 2012

London’s Square Mile is shrinking faster than any financial center in the world. Having fired more employees than in any other country last year, the capital’s banks are facing falling trading revenue, attacks from politicians to reduce pay and more job cuts. The U.K. government wants banks to split their consumer and investment banking units while European Union leaders are pushing to tax individual trades by the end of this year.

London Shrinks Faster Than Any Financial Center as Banks Come Under Attack (bloomberg)

Czech Republic can help Pakistan market access to former Soviet Bloc (dailytimes.com.pk)

Wednesday, January 18th, 2012

The Czech Republic can facilitate Pakistan in securing market access to the former Soviet bloc countries of Central and Eastern Europe as well as Central Asia. Czech Middle Asian Chamber of Commerce (CSOK) President, Jiri Nastaval leading a Czech businessmen team at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) said we were looking for mutually beneficial joint ventures with Pakistan in addition to traditional areas of energy, infrastructure and technical assistance. Given CSOK’s status as the official representative of the Czech Republic in the Commonwealth of Independent States (CIS countries bloc), his chamber could assist Pakistan in expanding trade relations with CIS countries on the similar pattern as given by the Czech Republic to the EU in dealing with Russia. Jiri Nastaval informed the participants CSOK was created by the Ministry of Industry of Czech Republic to foster trade cooperation with the Asian region. staff report

Czech Republic can help Pakistan market access to former Soviet Bloc (dailytimes.com.pk)

Britain cuts thousands of armed forces jobs (business-standard)

Wednesday, January 18th, 2012

Up to 2,900 members of the British army including 400 Gurkhas will lose their jobs along with 1,000 air force personnel in the latest round of defence cuts, the government said today. Around 300 members of the Royal Navy will also be axed. Many senior army posts will be cut, including eight Brigadiers and 60 Lieutenant Colonels and the Ministry of Defence (MoD) said the Gurkhas affected would be those with more than six years’ service.

Britain cuts thousands of armed forces jobs (business-standard)

Europe’s civil war over debt The euro zone’s fundamentals are sound. The currency’s weakness is because policy makers are slow to act (business-standard.com/india)

Wednesday, January 18th, 2012

Great empires rarely succumb to outside attacks. But they often crumble under the weight of internal dissent. This vulnerability seems to apply to the euro zone as well.

Key macroeconomic indicators do not suggest any problem for the euro zone as a whole. On the contrary, it has a balanced current account, which means that it has enough resources to solve its own public-finance problems. In this respect, the euro zone compares favourably with other large currency areas, such as the United States or, closer to home, the United Kingdom, which run external deficits and thus depend on continuing inflows of capital.

In terms of fiscal policy, too, the euro zone average is comparatively strong. It has a much lower fiscal deficit than the US (four per cent of GDP for the euro zone, compared to almost 10 per cent for the US).

Debasement of the currency is another sign of weakness that often precedes decline and breakup. But, again, this is not the case for the euro zone, where the inflation rate remains low — and below that of the US and the UK.

Europe’s civil war over debt The euro zone’s fundamentals are sound. The currency’s weakness is because policy makers are slow to act (business-standard.com/india) 

Tourism ‘forgotten’ as a valued export sector (voxy.co.nz)

Wednesday, January 18th, 2012

For many tourism operators working long haul markets, the high value of the NZD is like a poker hot enema.

Over the weekend I watched Bernard Hickey from Interest.co.nz reporting on TV1 where he suggested that Standard & Poor’s mass ratings downgrade of euro zone members is not good news for Kiwi exporters and that the news had already sent the Kiwi dollar soaring against all its major trading partners, heading for an unprecedented 63 cents against the euro. Predicting Kiwi exporters ‘could be facing a miserable start to 2012′ and commenting that ‘those exporting into Europe will really struggle at those sorts of rates’. He was suggesting also the silver lining was that the price of that German sports car will be tumbling in New Zealand. Ironically however, obtaining one is actually looking less likely for tourism entrepreneurs who rely on European markets.

Tourism ‘forgotten’ as a valued export sector (voxy.co.nz)