Traffic has become so complicated in Beijing, that the 12th Five Year Plan City (2011-2015) suggests that people "to live near their workplace to avoid congestion." Growth of 35% of the Chinese automotive market in 2010 has alarmed the Chinese authorities, who decided to limit fleet growth in the municipalities of East China (Beijing, Shanghai) this year by eliminating incentives for the purchase small cars.
However, analysts predict this year 10% to 15% growth for the automotive market. "The real question is whether this growth can ultimately provide a potential sale of 30 to 40 million units, vehicles and individuals alike," said Philippe Couderc, a partner at audit firm PwC Consulting.In one study, PwC discusses the difficulties of a political, social and economic, which will face the sector in the Middle Kingdom that qualify, however, that "the potential demand in China remains quite strong, given the disparities of the car density by Region. "
A slowdown is already visible in Beijing
According to figures announced by the China Association of Automotive Manufacturers (CAAM), sales of vehicles in China rose 9.71% to 3.16 million units during the first two months of 2011, compared to the same period last year. For passenger cars, the increase is even slightly higher (+10.5% to 2.5 million units). But compared to last year, this growth is down (-30%).According to CAAM, this decline would be more related to the cancellation of incentives adopted in 2009 by the Chinese government for the purchase of new vehicles. From 1 January 2011, the Ministry of Finance of the PRC has imposed a 10% tax on vehicles with engines of 1.6 liter or smaller engine.
The automobile market in the Chinese capital was also cooled by the announcement earlier this year of regulations aimed at limiting the number of new vehicles. Now the Department of Transportation in the city of Beijing will choose each month among the 20,000 cases filed applications for registration on its site to address them. In 2010, the same number of vehicles was recorded on average each week in the capital! "The backlash suffered by our industry seems inevitable," says a commin Xingya Feng, deputy director general of the Guangzhou branch of Toyota payday advance."We are expecting a sales decline of up to 70%.
Beijing, representing only 5% of the Chinese automotive market is not the only city to have introduced these measures limiting. In Shanghai, where the average wage is about 3,400 Chinese yuan (a little over 340 euros) per month, the license plates are auctioned since 2008, selling between 40,000 and 50,000 yuan (4000 to 5000 euros). This limits the number of new cars registered nearly 8,500 a month. Other measures to reduce the introduction of new vehicles in the coastal cities are expected during this year, according to PwC.
At the conquest of other Chinese regions
However, specialists and manufacturers are optimistic about the outlook for the automotive industry.
The German group Volkswagen, number two in China after General Motors increased its sales by 37% in 2010 to over 1.9 million vehicles and plans to invest 10.6 billion euros between 2011 and 2015 to strengthen its position in the Chinese market. "While the automotive market will decelerate in 2011, we expect a good performance in the years to come," said Karl-Thomas Neumann, CEO of Volkswagen Group China. The group has embarked on building a new plant in Yizheng (Jiangsu Province), which will be operational in 2013 and show an annual production of 300,000 vehicles.
PSA Peugeot Citroen, which produced and sold just over 360,000 vehicles in 2010 on the site of the Dongfeng plant in Wuhan (Hubei Province), remains optimistic about this year.French producer, who holds 3.3% of the Chinese auto market, is the 8% by 2015 and plans to build two assembly lines for cars in the Citroen car factory in Shenzhen Chang'an ( Guangdong Province).
"The automotive industry in China is also a way to show it belongs to a social class," says an industry expert on the Chinese automotive website CAAM. "Where such a desire of Chinese consumers to buy a car." Over the past 60 years, the length of roads in China has multiplied by 46, reaching 65,000 km in 2010.
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Feb
23
The victory is significant for Vivendi. Convicted in U.S. courts, there is a little more than a year of having misled shareholders about the financial position of Vivendi Universal between 2000 and 2002, the group was liable under the main lawyer for the plaintiffs in damages ranging up to 9 billion. But Tuesday night, a U.S. federal court has ruled – as requested while Vivendi Universal during his trial – French shareholders of the procedure.Today the communications group is "very pleased with the decision."
While there is no indication whether the U.S. securities laws apply outside U.S. borders, the judge hearing the case Holwell has decided yesterday to limit the file Vivendi holders of depositary receipts traded in New York, regardless of their nationality excluding holders of ordinary shares that were traded in Paris.
The misunderstanding is put on the side of French shareholders. "I am deeply disappointed," reacted Maxime Delespaul, lawyer of French shareholders having joined in partnership proceedings against Vivendi. "At a time when occurs an increased concentration of stock exchanges on both sides of the Atlantic, treat shareholders differently depending on whether they bought their shares on a particular place may seem anachronistic," he observed.
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Deprived of power in Egypt, Hosni Mubarak could soon be as his property. Barely half an hour after the announcement of the resignation of the Pharaoh, or at 17:30 on Friday, the Swiss government announced it was blocking all funds that may belong to the Egyptian president and his family in Switzerland. The Federal Council has issued an order to that effect asking the Swiss banks to search for and freeze the assets of the clan Mubarak. According to the Swiss National Bank in late 2009, the Egyptian deposits on accounts in Switzerland reached 3.6 billion Swiss francs (2.27 billion euros).
"President Hosni Mubarak has resigned today after weeks of mass protests. The Federal Council took note of this evolving situation, "it said in the text.The assets of Mubarak and his entourage were blocked with "immediate effect" and the order is "valid for three years," says the Federal Council. "In addition, the sale and disposal of assets – including property – belonging to such persons are prohibited. The Federal Council intends to take all necessary measures to prevent any possible misuse of public funds. "
Between 40 and 70 billion
According to experts cited in the Middle East by the British newspaper Guardian, the Mubarak family fortune is estimated at between 40 and 70 billion dollars (29.5 and 51.7 billion euros). It would be divided as such: $ 15 billion for Hosni Mubarak, one billion to his wife Suzanne, eight billion for his eldest son, Alaa, and 17 billion for his second son, Gamal. By comparison, the couple's Ben Ali is estimated at five billion dollars, as ranked by Forbes magazine.And that of the richest man in the United States, Bill Gates, to 54 billion.
The Algerian newspaper Al Khabarprécise his side much of the wealth of Mubarak would be deposited in banks or invested in real estate. The Mubarak family would own and outside of Egypt, properties in the United States, Great Britain (whose son and mother hold the nationality), France, Switzerland, Germany, Spain and Dubai . Finally, two son, Gamal and Alaa created and taken stakes in many companies in Europe and the United States.
(With agencies)
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"SPECIAL – Tunisia, Egypt … Revolts in the Arab world
In a statement issued following an interministerial meeting on the situation in Tunisia, the Elysee said he had "taken steps to ensure that suspicious financial transactions involving assets in France are blocked Tunisian administratively under the law" .
Paris "is available to the constitutional authorities to respond promptly to any request on Tunisian assets in France," the statement said the French presidency.The statement did not explicitly cite the case of ousted President Zine El Abidine Ben Ali, but it's him and other members of his clan who seem concerned.
A U.S. diplomatic telegram released by Wikileaks published by the daily Le Monde calls a "mafia" family of former president and said that corruption exists at the highest level of government with bribes, kickbacks, expropriation, robberies, extortion …
Appellant also "to calm and end the violence, France has also requested" the organization of free elections as soon as possible "in Tunisia, claiming to be ready to" respond to any request for assistance to the democratic process is conducted in the most compelling ".
Recalling the principle of "non-interference in internal affairs of a sovereign state," Paris said at last bring a "strong support" to the Tunisian people in its "commitment to democracy."
(With AP)
Hard times for motorists. Prices at the pump are now permanently installed at the top, becoming closer to record summer 2008, when the $ 150 barrel familiarly. According to the latest statistics from the Ministry of Economy and Finance, the super unleaded 95 (SP95) sells for an average of 1.44 euro per liter, with a record of 1.49 euro, reached in July 2008, online of sight. As for diesel, it currently reaches 1.26 euros, against 1.44 euros in 2008. On the Network Total (Total over Elf, including stations on the motorway), the SP 95 amounts to 1.49 euros against 1.445 in mid-December. Advanced diesel to 1.32 euro against 1.264 a month ago. For now, this acceleration has not resulted in lower fuel purchases.
"While it is always difficult to make forecasts, prices of petroleum products should continue to climb.Global demand for crude, which hit a record high in 2010, will continue to grow around 1.5% in 2011 to nearly 89 million barrels per day (bpd), "said Jean-Louis Schilansky, president of the French Union of Petroleum Industries (Ufip). The weakening of the euro against the dollar is largely responsible for inflation in the stations: "If the current price of oil in dollars is far from that of 2008 against $ 145 -92 – the gap is tightened considerably in euros per barrel currently costs 72 euros, against 90 two years ago and a half, "says Jean-Louis Schilansky.
TIPP regionalized
The president of the Ufip also highlights other factors that weigh at the pump: "Since 1 January 2011, the domestic tax on petroleum products (TIPP) regionalized increased in 17 regions. Meanwhile, biofuel prices have appreciated.Finally, there is the impact of energy efficiency certificates. Taken together, these factors represent an average of three cents extra per liter. "In the case of these certificates, fuel distributors, since 1 January 2011, have an obligation for energy savings resulting an additional cost.
Government, even if not yet publicly encourage operators to exercise restraint, follow very closely the situation. Their speech is well established: in particular to encourage distributors to pass slower increase in oil prices that their withdrawal. Generally, it takes about ten days before the changes are not a translation barrel at the pump.
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After an opening in the red, the CAC 40 was trying to go up to reflect a balance in the middle of the day, but the announcement of U.S. employment figures worse than expected, the index has stumbled. To 15 hours, it folds and from 0.68% to 3877.71 points.
The U.S. economy has created many jobs well below expectations in December, but the unemployment rate has dropped to its lowest level in over a year and a half to 9.4%. Last month, 103,000 non-farm jobs were created, according to the U.S. Department of Labor. Economists and analysts polled by Reuters had forecast on average 175,000 new jobs.
Elsewhere in Europe, the effect is less strong.At the London Stock Exchange, the FTSE-100 fell by 0.46% to 5,991.53 points and Frankfurt Stock Exchange, the Dax not loose more than 0.15% to 6970.78 points.
On Thursday, the CAC 40 has canceled its gain of over 1% at mid-session, after the weekly claims for unemployment benefits rose in the United States.
U.S. employment and unemployment, European unemployment and GDP
On the macroeconomic front, after a miserly start of the week in news, the meeting will be hosted by a number of indicators.
In France, the trade deficit rose in November to 3.869 billion euros against 3.712 billion the previous month. Are also expected economic forecast by INSEE for France in the first quarter 2011 (at 16 hours).
In the euro area, economic growth slowed more than expected in the third quarter of 2010 to 0.3% (against 0.4% previously announced).The unemployment rate, meanwhile, remained stable at 10.1% in November.
United States, the consumer credit will be announced in 20 hours.
On the currency markets, the euro remains below $ 1.30. To 15 hours in Paris, the euro bought 1.2985 dollars against 1.3006 dollars on the previous evening.
Record deliveries for Airbus
Against this backdrop of feverish, bank stocks are in decline: Societe Generale lost 1.26% to 41.61 euros, BNP Paribas 1.44% cowardly to EUR 49.12, Credit Agricole dropped 1.14% to 9.787 Natixis Euro yields 1.04% to 3.63 euros.
Renault: + 1.22% to 47.39 euros
In the case of industrial espionage affects Renault, the automaker suspect a Chinese actor, according to information from Figaro economy.For his part, Peugeot advance of 1% to 31.30 euros.
GDF Suez: -1.14% to 27.20 euros
A spokesman for GDF Suez confirmed to AFP Thursday an information website of the magazine Challenges, that the group will abandon stock options.The device should be replaced by performance-related bonus shares in the group.
Hermes: + 4.42% to 161.90 euros, LVMH: -1.41% to 120.28 euros
In the case of Hermes / LVMH, the AMF authorizes the Hermes family not to launch takeover bid for the entire group.
EADS: + 0.42% to 19.16 euros
Airbus (EADS) achieved record shipments in 2010: more than 500 aircraft delivered to airlines Boeing 462 to cons.
Sanofi-Aventis: -0.69% to 49.93 euros
Sanofi-Aventis has announced the appointment, effective February 1, new leaders in emerging markets where the pharmaceutical company wants to strengthen.Patrick Aghanian will be responsible for the Eurasia region, Thomas Kelly of Asia, Heraldo Marchezini of Latin America and Jeremy Moulding of Japan and Pacific area.
Casino-Guichard: -0.16% to 72.77 euros
Casino Guichard now holds 99.6% shareholding in its subsidiary e-commerce Cdiscount.
Schneider Electric: + 0.04% to 114.35 euros
Schneider Electric has signed an agreement to acquire majority shares of APW Président Systems Limited, an Indian manufacturer of enclosures for the telecom and information technology.
Saint-Gobain: + 0.37% to 38.33 euros
The Dutch competition authority said it had fined 17.7 million dollars to several companies, accused of having formed a cartel in the glass, among which is the local subsidiary of Saint-Gobain.
Bourbon: -0.18% to 35.45 euros
Bourbon announced Thursday its decision to separate the roles of Chairman of the Board and Director General from 1 January 2011.Jacques de Chateauvieux therefore yield the reins of the operation to Christian Lefevre.
Axa: -0.48% to 13.44 euros
Axa Private Equity, the private equity subsidiary of Axa, is in exclusive talks with Bain Capital to acquire the French chemicals group Novacap according Agefi.
Dexia: -0.78% to 2.68 euros
Dexia has initiated the process of selling Deniz Emeklilik, its life insurance subsidiary in Turkey, according to Les Echos.
Arcelor Mittal: -1.61% to 27.11 euros
ArcelorMittal called Thursday evening to shareholders of Canadian Baffinland Iron Mines to accept its offer of 550 million Canadian dollars, considering it superior to that of Iron Ore Nunavut.
Thales: + 0.30% to 26.66 euros
Canada has expressed a "strong interest" for the purchase of two vessels Mistral class manufacturer of DCNS, Thales which holds 25%, according to La Tribune.
Remy Cointreau: + 4.14% to 55.30 euros
Goldman Sachs added Remy Cointreau to its list of preferred values and raised its recommendation from "buy," cons "neutral" before.
Downward adjustment. INSEE revised its growth figures for the second and French third quarter below what it had previously measured. Between April and June, the economy grew by 0.6% against 0.7% estimated earlier, and 0.3% between July and September, against 0.4%. The downward revision for the third quarter results "including the revision of indicators of business services and public works (…) and indicators of personal services," noted INSEE.
In the third quarter, "domestic demand (…) again contributes positively to growth in gross domestic product (GDP) this quarter," noted INSEE online payday advance. Consumer spending has accelerated over the period, at +0.5% against 0.3% over the previous three months. In contrast, business investment grew more slowly (+0.5% after +0.9%).
Household disposable income as calculated by INSEE has grown faster than the second quarter at +0.9% against +0.8% previously. An evolution that can record a slight acceleration in purchasing power (+0.7%).
The Bank of France expects a growth of 0.6% in the fourth quarter. Over the full year 2010, the French GDP to grow by 1.6%, according to Insee.
For one last time before the scrapping has boosted consumption. In November, households spent 2.8% more in manufactured goods, after falling 0.6% in October, according to Insee. The boom in car sales, with 14.9%, pulled the index from the Institute of Statistics for the month.
"Beyond the positive effects of scrapping set up by the government on car purchases, all items of consumption of manufactured goods have increased significantly in November, held to highlight the Minister of Economy Christine Lagarde. Textiles and leather rose 2.9%, probably enjoying the weather rigorous. Purchases of equipment housing also rose (+0.4%).
Despite the optimism of Bercy, which expects a recovery in consumption, the start of January looks bleak on the trade front.More than one in three households (35%, 7 points higher than in the previous barometer) is planning to spend less in the coming months for food and clothing, according to a poll conducted for BPCE ViaVoice *, France Info and Les Echos published Thursday. They are only 9% plan to spend more and the rest of the population does not intend to waive the rules of parsimony introduced in 2010.
On higher expenses, the prospects for buying real estate is still very low: 3% of respondents planning to invest in the stone payday advance lenders. However, the prospects of acquiring cars increased slightly (7%, +2 points) to a few days to stop scrapping laprime and environmental bonus.
In total, the total fertility rate of spending intentions of the French lost 17 points compared to last month.
Low morale
A relative majority of French people (42%) still expects a decline in purchasing power, and this proportion is increasing compared to last month (+3). They are only 13% to bet on a rise in their purchasing power.
In a second aspect, the study focuses on Christmas gifts and notes that the French are shared between termination of a consumerist frenzy and caring towards one part relational authenticity. On purchases (frantic) Christmas, youth aged 18-24 believe overwhelmingly (63%) which was due to make as many gifts.In contrast, seniors (65 and over) believe overwhelmingly (59%) that we should do less of gifts.
* This survey was conducted on December 16 and 17 by telephone on a sample of 1005 people, according to the quota method.
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U.S. stock markets are changing very slightly up on Wednesday. The Dow Jones gained 0.24% at 11,387 points, the Standard & Poor's advance of 0.36% to 1228 points and the Nasdaq climbed 0.47% to 2611 points. Tuesday Wall Street has been closed close to balance. The Dow Jones lost 0.03% to 11,359 points, the Nasdaq was up 0.14% to 2598 points and the S & P 500 had gained 0.05% to 1223 points.
On the foreign exchange market, the euro still declining against the dollar on Wednesday. The greenback remains supported by the higher yields of U.S. Treasuries and the U.S. agree on tax relief. In milieur afternoon, the European currency fell to 1.3239 dollars against 1.3258 dollars on the previous evening.
On the macroeconomic front, the U.S. central bank (Fed) released Tuesday night, the evolution of outstanding consumer credit in the month of October.On an annual basis, total consumer credit rose by 1.7% (+3.4 billion). It is the second consecutive increase after 19 months of decline. This movement is explained by the growth in loans, which include auto loans, personal loans and student loans that climb by 6.8% over the month of October. However, revolving credit continues to contract, they fell by 8.4% (a decline of about 5.6 billion dollars) after having already contracted 13% in September.
Also note, following the agreement between President Obama and the new Republican majority, maintains the tax breaks the Bush administration for an additional period of two years, several U.S. economists have raised their growth projections for the next year.The most optimistic expects a rise in U.S. gross domestic product by 4% in 2011 against 2.7% before the announcement.
On the agenda of investors are including this Wednesday, the weekly inventory of crude oil in the U.S. expected to 16:30.
Offer extended on Genzyme
The side of values, as we announced, Sanofi-Aventis is expected to extend its tender offer (OPA) on the U.S. laboratory Genzyme. Indeed, the OPA launched on October 4 by the French giant for $ 69 per share, or 18.5 billion euros, expires Friday, December 10 at midnight New York time.
Also in the health sector, Johnson & Johnson launched on Wednesday its offer of 1.75 billion euros on the Dutch biotechnology company Crucell, thus dispelling the doubts of investors.The offer of U.S. health care group, which already owns 17.9% of Crucell is particularly subject to a minimum of 95% stake in sales commitments.
After market, Texas Instruments (TI) has published its expectations for the fourth quarter. The group tightened its forecast ranges for the last quarter of 2010. Texas Instruments expects earnings per share between 61 and 65 cents in the fourth quarter, against a previous forecast of 59-67 announced in October. For their part analysts on average expect 63 cents of earnings per share. The turnover will be between 3.43 and 3.67 billion dollars against 3.36 to 3.64 and 3.5 billion previously expected.
For its part Google will compete with Microsoft on its preferred playground next year by launching an operating system for laptops called Chrome as their browser.The company could make a spin off of its activities "home security" (40% of its employees, very exposed to U.S. housing) and its golf division (45% of its revenues internationally, with strong growth South Korea). The company would focus on wine and spirits business, whose growth in turnover is 7% over the first 9 months of the year.
Also note, the aircraft manufacturer Boeing has finalized the acquisition of CDI Tuesday Technologies, a software company military logistics, for an undisclosed amount.
Today investors will also monitor the speeches of leaders of Halliburton at Capital One Southcoast conference Energy from 15H00.
In the wake of the Asian stock markets this Monday morning, the Paris stock exchange should take the path of opening up. For a holiday, the news of French companies on the exchange market, and the side of the macroeconomy in the United States will be rich.
Are expected especially overseas spending and household incomes in October at 14:30, construction spending in September to 16 hours, the ISM index of manufacturing activity for the month of October at 16 hours also.
Friday night, the CAC 40 ended at 3833.5 points and the CAC 40 index futures advancing 0.97% to 3851.5 points. Note however that the volume of trade looks anemic.
Bond of the Chinese manufacturing
Already, China, fell this morning very good numbers on the front of the manufacturing activity.The index HSBC China Manufacturing Purchasing Managers Index (PMI) rose to 54.8% in October against 52.9% in September. What propelled the Stock Exchange of Hong Kong hause nearly 2%.
In Japan, investors have instead learned of new car sales falling 26.7% on the month of October in a rolling year.
On the foreign exchange market, the dollar remains weak on the eve of the opening of a highly anticipated meeting the Monetary Policy Committee of the Fed, which will be held Tuesday and Wednesday.Traders expect further monetary easing measures that would lead to an increase in mass of dollars in circulation, and thus a decrease in the value of the greenback.
To be continued next values
Alstom announced Friday that it would examine all legal avenues available to him after the rejection by the High Court in London of his request for an injunction against the choice of Eurostar trains from rival Siemens. The operator of the Channel Tunnel welcomed the court ruling and found that nothing prevented the signing of the contract now.
EDF has finalized Friday night the sale of its electricity distribution networks in British Chenug Kong in Concita under an agreement announced in July bad credit payday advance.The electrician also told Reuters that a further step was taken Tuesday by the Board on the draft of the future third-generation EPR reactor at Penly (Seine-Maritime).
And Scor Reinsurance Group of America (RGA) are vying for the acquisition of Transamerica Reinsurance, a subsidiary of Dutch insurer Aegon, revealed on Friday close to the matter.
Vivendi seeks to terminate a proceeding by the Brazilian competition regulator about its takeover of local telecommunication GVT group, said on Friday a source close to the situation.
The French television channel Canal + pay remains interested in an acquisition of its Spanish counterpart Digital +, although discussions have not resumed since the collapse of a previous attempt, said its chairman Bertrand Meheut the Financial Times on Monday.
Unibail-Rodamco announced on Friday down 1.8% of its turnover, to 1,177.6 million euros over nine months, after taking into account asset sales completed during the period under the current strategy of commercial real estate specialist.
Veolia, the Cube Infrastructure Fund, sponsored by Natixis, Keolis, a subsidiary of SNCF have expressed interest in the activities of Arriva in Germany, writes the Süddeutsche Zeitung on Saturday, adding that an agreement could come as early November.
Bouygues. President of Cote d'Ivoire Laurent Gbagbo has renegotiated a contract for electricity distribution in 2005 if he wins Sunday's elections, we read in Le Journal du Dimanche. The first round of the Ivorian presidential election began Sunday.
Total and Exxon want to withdraw from the Block 31 project, said Monday the Angolan Oil Minister Jose Botelho de Vasconcelos at a conference on energy.
Wendel hired Friday exclusive negotiations with Ares Life Sciences to sell its 46% stake in the capital of the laboratory Stallergenes. In exchange, Starllergenes dived and Wendel has skyrocketed.