Phone companhy is done by 21 % of Digitalis +

Phone companhy, the operator at that César Alierta presides, has approved his entry in the capital of Digitalis +, the television platform for satellite of which he was already a shareholder until 2007. The actions of Hurry raised 2,5 %, meanwhile Phone companhy noted down 0,8 %.

Also, the evaluation of 100 % of the company is located in 2.238 million euros.

This way, the managing Phone companhy organ gave today green light to the buy of 21 % of Digital Bonus for 470 million euros, operation which the telecommunications operator enters again the platform of the Group Hurry after in May de2008 it was selling 16,79 % of Sogecable for 650 million euros.

For Digital Bonus he supposes one more step in his cash search to confront next March the expiration of the credit of 1.950 millions requested precisely to confront the Sogecable opa. Approximately 180 millions of the agreed price will be a capitalization of the debt that Hurry was supporting with the company of Alierta.

This operation, which had been already studied and postponed by the Council of Phone companhy in at least two cause, it values Digital Bonus for 2.238 millions, far from the Hurry aspirations only a few months ago, any approach was pushing in them back below 2.500 million euros.

Both the economic urgencies and the starting of the TDT of payment have moderated the Hurry requirements. In fact, in the end also Phone companhy has granted something. Not in vain the offer that there had presented in March the Spanish teleco of that time of the hand of Vivendi, was not overcoming 2.000 millions for the platform.

Also this acquisition is realized under the condition to reduce his leverage up to being located in five times ebitda at the end of 2010 and in 3,5 at the end of 2013.“ It is the exposition that the most important banks have done and in Hurry it is seen like a realizable condition ”, make sure sources next to the negotiation.

Image Alberto's CC OG

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Twitter might introduce publicity and go out to bag

Twitter, one of the principal social networks in Internet, studies to go out to bag to collect funds if it is necessary, said Biz Stone, one of his founders. The company, of three years, already is achieving some income and on them it will concentrate next year. According to the proper Stone, “2010 is going to be really the year of the results.

In September Twitter received investors' income as the fund T. Rowe Price and the company of private capital Insight Venture Partners, what according to analysts prepares the way for a possible share offer of sale (OPV). According to different sources, the company might cost approximately 1.000 million dollars thanks to the new obtained funds for 100 million dollars.

Biz Stone said to journalists that he did not want to sell the company, but that he would explore the alternatives to an initial share offer. This way, in an entrepreneurs' workshop he affirmed that “the matter is that we want to construct our own company that lasts a lot of time. If an OPI is the way of making it, of that time insurance. We still have not discarded it of our calendar”.

Also, he affirmed: "Definitely we are not interested in selling the company”. Nevertheless, also he said in the Oxford University that “if an OPV is the only way, insurance of that time. But if there is another way that also would be fantastic. Perhaps a new way arises”.

The founder did not want to contribute details on how Twitter would introduce publicity next year, but it pointed from that it would be different from the traditional forms of publicity online, that include graphic announcements and sponsored searches. When one asked him for the dangers at which his tens million visitors should take offense for the decision of introducing publicity, Stone affirmed: "He is going to love to the whole world. It is going to be amazing”.

Image CC of Mykl Roventine

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Facebook is valued for 6.500 million dollars

In previous editions, this finance blog reported about the interesting so called ranking “The SAI 50 +: World's Internet Most Valuable Startups”, that describes which there are the Internet companies that better they quote at present. In this occasion, one will allude to the social network Facebook who leads this elaborated classification, for the second year in a row, for the web portal Silicon Alley Insider (SAI).

It is not necessary to do a big presentation about Facebook, the most successful digital social network of the moment. What yes it is necessary to emphasize again is that the above mentioned web site is the company of more profitable Internet of the actuality, according to the ranking “The SAI 50 +” that, as in 2008, describes which there are the Internet companies that more they quote, he published the official web site of Silicon Alley Insider.

Created by the North American Mark Zuckerberg and lance thrust to the cyberspace in February, 2004, Facebook is provided at present with more than 300 million users. According to the report mentioned previously, this famous company of Internet leads the ranking since it is valued for about 6.500 million dollars.

It is important to add that this is the second edition of formless “The SAI 50 +: World's Internet Most Valuable Startups”. Although the document realized last year was named “SAI 25 ″, also it was led by Facebook, although in 2008 it was quoted in about 9.000 million dollars, informed the SAI web.

Although Facebook leads this classification, the list is integrated by another 59 digital companies between which there are, for example, Wikipedia (2nd), Betfair (3rd), NewEgg (4th), Craigslist (5th), Mozilla Corp. (6th), Yandex (7th), Webkinz (8th), GoDaddy (9th) and Demand Media (10th).

To consult which there are 60 digital companies that more they quote at present and to find out more about this report, do not hesitate to enter to the web site of Silicon Alley Insider.

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Trichet thinks about the labor reform

Jean Claude Trichet, president of the European Central Bank (BCE), has made sure that the structural reforms “can neither be avoided nor postpone” in Spain. French did special emphasis on the labor market, one of the most rigid of the euroarea, and in a change of productive model to detach from the sector construction construction.

This way, the president of the BCE, that there did this consideration during his intervention in the Annual Convention Financier organized by the Association of Financial markets, praised to the Spanish financial sector and considered it to be as “a source of force and national pride”.

Trichet made sure that the Spanish financial system has been “a leader“ in many cases, in addition to being “more resistant” that others in the first stages of the crises.

For the European chief, the Spanish entities have created before the crisis “a good series of cushions” that it has helped during the recession, although he made sure that adjustments will be needed. In fact, the Governor of the central bank of the euroarea endorsed the words of the Spanish governor Miguel Ángel Fernández Ordóñez, that last week he made sure that at least fifteen boxes should have fused before the summer comes.

Trichet also has indicated that and l "exceptional" support that the Governments have granted to the financial institutions during the crisis “it will be necessary to go withdrawing it”, and he made sure that the "recipe" to return to the stability is “a solid management”.

Nevertheless, Trichet wanted to make clear that is still "premature" to affirm that the crisis has finished and has warned that in the next years the public debt will be major than in the past, therefore it will be important to do an effort in the fiscal consolidation.

Trichet stopped in the Spanish case, of which he emphasized that the fiscal consolidation had progressed more than in other countries. Nevertheless, The banker has affirmed that he will have to make sure that it supports his fiscal credibility respecting the requisites of the Agreement of Stability and Growth of the EU, which limits to 3 per cent of the GDP the public deficit. This way, he has remembered that Spain has been a witness of many processes of restructuring of the financial system in the past that have given like turned out a model “of big success”.

The chief of the BCE has underlined that the Spanish economy "presently" approaches at the “higher economic and social level of the entire world”, although it has made the most of the opportunity to remember that before the crisis began the growth boss was not sustainable.

Image CC of World Economic Forum

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JP Morgan and Société Générale foresee historical maxima for the euro

According to the experts of Société Générale and JP Morgan, the euro might go so far as to mark new historical records opposite to the dollar if it manages to be consolidated over his level of resistance, which is in the status between the 1,50 and 1,5095 dollars

According to Société Générale, as well as another all the strategic analysts, think that, so that the single currency should reach new historical maxima in his crossing with the green ticket there would be necessary, first of all, the rupture of the status of 1,5290 dollars to 1,5305 to be able to advance up to 1,6038 dollars, marked record last July 15 of last year.

This way, one of the mentioned experts has affirmed that “the support status between the 1,4785 and 1,4790 dollars should contain any downward movement until the euro returns to 1,5050 dollars or 1,5095 ″.

And the fact is that the euro went so far as to raise today up to 0,9 % up to 1,4990 dollars, the level the highest intradía from the last ninth of November. This way, it has managed to advance, from 1,2457 dollars that it marked the last fourth of March, about 20 %. It is for it that technical and investing analysts think that the euro is still provided with trip to be able to mark a new maximum in his principal crossing and escape from the side movements that already characterize the euro / dollar for time.

For his part, the analysts of the American bank also trust in the euro. They have cut his forecasts away on the dollar, on having deducted that the Fed will support the ‘types zero’ until, practically, 2011. JPMorgan augurs new historical maxima for the euro towards the second trimester of next year, about 1,62 dollars (opposite to 1,496 current ones), just before bouncing between 5 % and 10 % in the second half of 2010.

Image CC of marfis75

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The slowness of Santander Consumer goes off

Santander Consumer, the branch of the first Spanish bank group specializing in financing to the consumption, has seen as his slowness has gone off.

This way, the valuation of unpaid of the entity in Spain, his most important second market in Europe after Germany, was located in September in 10,9 %, opposite to 6,5 % registered at the end of 2008, as it gets rid of the Continued Leaflet sent to the CNMV.

The coverage of the doubtful assets has increased two percentage points, up to 65,8 %, due to the effort in provisions realized by the entity: the specific endowment (the one that is done to cover defaulting assets and with signs of deterioration) grew 22 % in the first nine months of 2009, up to reaching 464 millions, on a whole of an investment of 10.345 millions.

In Spain, the valuation of slowness of Santander Consumer is most raised between those of the principal European countries in which it produces the group: Germany has 4,8 %; Italy (the third market), 4,5 %; and the northerly countries, a 1,9 %. In whole, the mulberry of Santander Consumer is in 5,8 %. On the other hand, the fact of Spain is practically in the average of the rest of the financiers of the country that was to September of 9,8 %, according to the information of the Spanish Bank.

Also, the situation of the Spanish economy was reflected in the clipping of the business, with a fall of the new production of credits of almost 40 % in 2008. In fact, in the first months of the present exercise the group started a process of restructuring of the Spanish business of Consumer, which it affected to approximately a third of the staff, approximately 375 employees. As he communicated in his moment, the thickness of the clippings of personnel was carried out by means of early retirement, relocations and encouraged falls.

Image CC of ingenious Daquella

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Facebook and Wikipedia: those that more they quote in Internet

The web portal Silicon Alley Insider presented the formless “The SAI 50 +: World's Internet Most Valuable Startups”. The above mentioned document describes which there are 60 Internet companies that more they quote at present. Facebook and Wikipedia occupy the first and second place of the edition 2009 of this one so interesting report, he published the official web site of Silicon Alley Insider.

Formless “The SAI 50 +” is headed by the successful social network Facebook, which is valued for about 6.500 million dollars. For his part, the web site Wikipedia, known popularly how “The free encyclopedia”, does it have an approximate cost for 5.000 million dollars.

Realized by Silicon Alley Insider, this classification continues with the companies Betfair, NewEgg and Craigslist, which occupy the third, fourth and fifth position, respectively, and they are valued for 4.500 million dollars, 3.200 million dollars and 3.000 million dollars.

The top 10 of this ranking is completed by the digital companies Mozilla Corp, Yandex, Webkinz, GoDaddy and Demand Media. Next, this finance blog will publish the names of the Internet companies that better they quote and that integrate the list:

01) Facebook
02) Wikipedia
03) Betfair
04) NewEgg
05) Craigslist
06) Mozilla Corp.
07) Yandex
08) Webkinz (aka Ganz)
09) GoDaddy
10) Average Demand

11) QuinStreet
12) Zynga
13) QlikTech
14) LinkedIn
15) Twitter
16) Oversee.net
17) Oanda
18) Habbo
19) TheLadders.com
20) Kayak

21) Lab adjoins
22) AdKnowledge
23) Hulu
24) eHarmony
25) Ozon
26) Ning
27) Tudou
28) Angiés List
29) ReachLocal
30) Indeed

31) Efficient Frontier
32) Gilt Groupe
33) Average Glam
34) hi5
35) Playfish
36) Magic Jack
37) Yodle
38) Minipaper clip
39) RockYou
40) Meebo

41) Average Federated
42) Yelp
43) Thumbplay
44) Playdom
45) Slide
46) Zazzle
47) Diapers.com
48) Stardoll
49) Average Gawker
50) Digg

51) Etsy
52) Mint
53) Metacoffee
54) Huffington Post
55) Commercial Runner
56) Next New Networks
57) Zillow
58) Openx
59) Associated Content
60) Brand.net

It is important to add that this is the second edition of this report. Although the document realized last year denominadó “SAI 25 ″, also valued the principal companies of the digital world, he informed the web of Silicon Alley Insider.

To consult more about this report, do not hesitate to enter to the web site responsible of “The SAI 50 +: World's Internet Most Valuable Startups”.

Image subject to license CC

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The public helps to the motorcar might prevent the restructuring in the sector

The OCDE (Organization for the Cooperation and the Economic Development) thinks that the public helps that the sector of the motorcar has received, both in the industrial ambience and in the TV/radio commercial, can turn into a ballast so that this industry attacks the restructuring that he needs facing the future.

This way, the OCDE dedicates an entire chapter to the situation of the motor-car industry in his last report on economic perspectives. He admits that the motoring is between the sectors “more struck” for the recession. Nevertheless, it specifies that the fall of the sales of cars has not been deeper than the observed in the past.

The organization admits that the help plans to the buy of motorcars implemented by different countries, between them Spain, have propitiated an increase of the short-term demand, but he warns that measurements of this type will prevent most likely the structural changes that the industry needs in the next years.

In this sense, he suggests once the incentives programs to expire, the sales of motorcars will fall down again, every time, on having talked each other of initiatives limited in the time, the effect that they produce is an advance in the buys. Also, the OCDE questions the efficacy of these plans to reduce the greenhouse effect emission.

On the other hand, the OCDE predicts that the Spanish car market can register in short or half term “a cyclical rebound”, since in Spain - and in other countries as the United Kingdom, the United States or Japan - the sales of cars have fallen down much underneath of what it would be a normal level.

This situation points to that and xisten possibilities that, as a result of the historical fall of the registrations, the sale of cars in Spain should register a “cyclical rebound” in short or half term, although at the same time the report points out that the mature markets as Europe or North America will tend to the "stagnation".

As for the situation of the Spanish industry of manufacture of motorcars, the report augurs a maintenance of the productive capacity in the next five years. This way, he thinks that the factories will be provided with an aptitude to make 2,42 million units in 2015, codes lightly lower than 2,43 million units foreseen for this year.

Image of Swiveler

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General Motors guarantees the Figueruelas future

Nick Reilly, the new manager of General Motors Europa, he made sure this Friday that the plant of General Motors (GM) Spain located in the locality zaragozana of Figueruelas, will be “a permanent reference” to new Opel Europe and guaranteed his future “in average and long term”.

Nick Reilly, who met in Saragossa the prime minister of Aragon, Marcelino Iglesias, accompanied by the vice-president, José Ángel Biel, and by the advisers of Economy, Treasury Department and Employment, Alberto Larraz, and Industry, Commerce and Tourism, Arturo Aliaga.

In declarations later to the mass media, Reilly aimed that “although GM has to attack a significant restructuring in Europe, the plant of Saragossa will be a permanent reference to we” and added that “like the financial GM situation it has improved we are pleased of being able to support hundred for hundred of the company”.

Reilly remembered that, in the yesterday day, he visited the Spanish factory, what allowed him “to be a witness of the professionalism of the agents of the same one on having been with them on foot of chain and with the managing team, as well as with the trade unions”. “I have the certainty of which we are going to leave behind this suspense period giving a future option”, it concluded.

For his part, the adviser Larraz pointed out that this visit for Aragon “has been very important although it has had very much of institutional” and advanced that the restructuring will be “in the line” of the plan of Great, although “there will be some finishing touches that will not be to worsen it, but to improve it”.

Also he affirmed: "He has commented to us on something important, which is to put a calendar from here on to tackle the restructuring plan and to work jointly with them and with the trade unions in a project that has a lot to do with the one that agreed with Great although with some different details that will not be to worsen it, but to improve it”.

The autonomous Economy holder emphasized that “it is the first time that Reilly visits the plant in depth and her very good impression has taken”. “We are very positively impressed because for us it is good that GM has recaptured this work. We are used to speaking with them that with other companies”, it pointed out.

Also, the adviser Aliaga thought that in the visit they have been revealed “the fortitude of the plant in technological aspects, the importance of two lines of production and three models that are made”. Also he admitted that “it Has made a very positive comment regarding the workpeople and has said that they are very well prepared for the construction of the Meriva”.

Image CC of Alejandro Arce

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Who integrate the “Index of Perception of the Corruption”?

Previously, this finance blog alluded to the “Index of Perception of the Corruption 2009”, a study prepared by the organization International Transparence that is shaped by the nations that are perceived as the least corrupt of the world. In this occasion, there will be published the names of 180 countries that integrate this document and the position that they occupy in the classification that, as one has already reported, is led again by New Zealand.

01) New Zealand
02) Denmark
03) Singapore and Sweden
05) Switzerland
06) Finland and Holland
08) Australia, Canada and Iceland
11) Norway
12) Hong Kong and Luxembourg
14) Germany and Ireland
16) Austria
17) Japan and the United Kingdom
19) The United States
20) Barbados

21) Belgium
22) Qatar and Saint Lucia
24) France
25) Chile and Uruguay
27) Cyprus, Estonia and Slovenia
30) United Arab Emirates
31) Saint Vincent and the Grenadines
32) Israel and Spain
34) Dominica
35) Portugal and Puerto Rico
37) Botswana and Taiwan
39) Brunéi, Oman and South Korea

42) Mauritius
43) Costa Rica and Macao
45) Malta
46) Bahréin, Cabo Verde and Hungary
49) Bhutan, Jordan and Poland
52) Czech Republic and Lithuania
54) Seychelles
55) South Africa
56) Latvia, Malaysia, Namibia, Samoa and Slovakia

61) Cuba and Turkey
63) Italy and Saudi Arabia
65) Tunisia
66) Croatia, Georgia and Kuwait
69) Ghana and Montenegro
71) Bulgaria, Macedonia, Greece and Romania
75) Brazil, Colombia, Peru and Surinam
79) Burkina Faso, China, Suazilandia and Trinidad and Tobago

83) Serbia
84) El Salvador, Guatemala, India, Panama and Thailand
89) Lesotho, Malawi, Mexico, Moldavia, Morocco and Rwanda
95) Albania and Vanuatu
97) Liberia and Sri Lanka
99) Bosnia and Herzegovina, Dominican Republic, Jamaica, Madagascar, Senegal, Tonga and Zambia

106) Argentina, Benin, Gabon, Gambia and Níger
111) Algeria, Djibouti, Egypt, Indonesia, Kiribati, Mali, Sao Tome and Principe, Solomon Islands and Togo

120) Armenia, Bolivia, Ethiopia, Kazakhstan, Mongolia and Vietnam
126) Eritrea, Guyana, Syria and Tanzania
130) Honduras, Lebanon, Libya, Maldives, Mauritania, Mozambique, Nicaragua, Nigeria and Uganda
139) Bangladesh, Belorussia, Pakistan and the Philippines

143) Azerbaijan, Comoros and Nepal
146) Cameroon, Ecuador, Kenya, Russia, Sierra Leone, East Timor, Ukraine and Zimbabwe
154) Côte d'Ivoire, Papua New Guinea, Paraguay and Yemen
158) Cambodia, Central African Republic, Laos and Tajikistan

162) Angola, Republic of the Congo, Democratic Republic of the Congo, Guinea-Bissau, Kirguistán and Venezuela
168) Burundi, Equatorial Guinea, Guinea, Haiti, Iran and Turkmenistan
174) Uzbekistan
175) Chad
176) Iraq and Sudan
178) Myanmar (Burma)
179) Afghanistan
180) Somalia

Analyzing this table, and as summary, it is important to add that the classification of the perceived countries as it is led the least corrupt of the world by New Zealand. While the worst situated nations are Somalia, Afghanistan and Myanmar, who fill the vacancies 180, 179 and 178 of the ranking, respectively.

To consult the study “Corruption Perceptions Index 2009”, known in Spanish like “Index of Perception of the Corruption 2009, it is necessary to enter to the official web site of International Transparence.

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Can it be the fictitious wealth?

Now it is the most opportune moment to advance in alternative programs that think about how to make way to a new economy dedicated to serving to the community. To go deep into this target writer David Korten, ex-teacher of the University of Harvard Graduate School of Business, president of the meeting Positive Futures Network and member adviser of the Network of Social Companies has managed to receive the extract of the new economy across his work “Agenda for to New Economy: From Real Phantom Wealth to Wealth” (Agenda for a new economy from the fictitious wealth towards the real wealth).

Work that injects optimism and alternatives to face to the biggest economic crisis of the United States from the big depression.
Korten in his new work identifies the deepest sources of the crisis: the institutions of Wall Street, the speculative commerce, the bubbles of assets and the famous pyramids, between others. Between his most critical comments, the censoring does not escape for the trillion dollars that wore out in rescues from Wall Street, one of the causative institutions of the chaos and expert in the art of creating bogeys of “wealth“ without producing anything of real value.

“This is a part of the comprehension of the current system of Wall Street, which is articulated concerning an illusion, the illusion of which the money is the wealth, which then is translated in the idea of that the persons who are creating or who are gaining money are, in fact, departs from this wealth (…).

The real need, nevertheless, is a transformation bottom-up of our economic values and the institutions to fit to the opportunities of the XXIst century. It is a question of a program of five meetings: the cleanliness of Wall Street, the game for the rules of the market, the free financing of the real economy, the measurement of what really we want, and to turn to the debt without money, made sure Korten.

Image CC of susangleason

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The expense in I+D grew 10,2 % in 2008

According to the information published by the National Institute of Statistics, the internal expense in Research and development (I+D) amounted to 14.701 million euros in the year 2008, what supposed 1,35 % of the Gross National Product (GDP) and an increase of 10,2 % with regard to the year 2007.

The autonomous regions that realized a major effort in activities of I+D were a Community of Madrid, Basque Country, Jurisdiction of Navarre and Catalonia. All of them presented numbers of intensity in the expense superior to the national average. Castilla-La Mancha, Canaries, Ceuta and Melilla are more dawdlers in this aspect.

While, Castilla-La Mancha, Extremadura and Cantabria were the autonomous regions that presented major growth rates with regard to 2007.

At national level, the sector companies presented the biggest percentage on the entire expense in I+D (54,9 %), which in turn meant 0,74 % of the GDP. There continued in importance the sector Higher education (with 26,7 % of the entire expense, what represented 0,36 % of the GDP). The expense in I+D of the Public administration was 18,2 % of the entire expense and 0,25 % of the GDP. 0,2 % remainder corresponded to the sector of the Institutions Deprived without Ends of Lucre (IPSFL).

The sector of the Public administration presented a growth rate of 13,8 % with regard to the year 2007. For his part, the sector of the Higher education grew 11,8 %. The managerial expense in I+D increased 8,3 % with regard to 2007. The sector companies executed 54,9 % of the entire expense in I+D opposite to 55,9 % of the year 2007.

A whole of 215.676 persons dedicated to activities of I+D, in equivalence to full time in the year 2008, what represented 10,65 for thousand of the working population. The investigators' group reached the number of 130.966 persons in the year, what supposed 6,47 for thousand of the working population.

39,1 % of the personnel in I+D was women. The highest percentages of feminine participation in activities of I+D happened in the IPSFL (56,6 %) and in the Public administration (50,9 %). In the companies this percentage was located in 30,1 %.

Image CC of RinzeWind

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I change in the European Central Bank

As it was commented yesterday between the diplomatic circles of the EU, Germany will present his candidacy to the presidency of the European Central Bank in exchange for resigning from his interest in the new charges of President and responsible for Foreign policy of the EU.

Meanwhile, the European authorities do not discard that the dinner owing to the leaders' summit of the EU that is celebrated today, in that two new appointments might be announced, extends up to well brought in the dawn for lack of an agreement between the twenty-seven.

A score of names has fought for two positions, although the Belgian prime minister Herman Van Rompuy, has turned into the consensus candidate to assume the presidency. On the other hand, for the first position of the European diplomacy there is no clear favorite.

Although Germany, the biggest state of the EU, no candidate has presented, on Monday there attracted attention the declarations of Wer-ner Hoyer, secretary of the State of European Matters in Germany, which established a tie between two positions and the presidency of the BCE. “When all this has been solved, there will be other positions for covering and Germany should be in the place that corresponds to him”, he made sure.

The presidency of the BCE will remain vacant in November, 2011, when the Frenchman Jean-Claude Trichet moves back after eight years in the charge. Germany has never filled the vacancy, in spite of his importance in the making of the politics of the euroarea. A high German public position was specifying yesterday that Hoyer had not mentioned of explicit form to the BCE. “What he said is that the Treaty of Lisbon had created new charges that have not been covered yet, not only that of president and tall representative of the EU, and that these two had to be covered”, he declared.

In the opinion of the analysts of the private sector, it does not seem probable that there is going to be a compensation element between three positions, although the German chancellor, Angela Merkel, seems interested in that he is the president of the Bundesbank, Axel Weber, which occupies the presidency of the BCE. It is probable that Weber faces the candidacy of Mario Draghi, governor of the Bank of Italy and president of the Committee of Financial Stability.

Another possible obstacle is in France, which is sure that Germany already obtained an important compensation when the governments of the EU agreed in the nineties to establish the central head office of the BCE in Frankfurt. The debate on the appointments centers on reaching partly a balance between the countries of all the corners of Europe and on naming to a center candidate right for Foreign affairs if the elected President turns out to be of center left.

Image CC of Ivan Walsh

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New Zealand, the most transparent country of the world

Which are the most transparent countries of the world at present? Next, this finance blog will allude to the already well-known so called study “Index of Perception of the Corruption 2009”. Realized year by year by means of the interviews concision to different persons, this document is shaped by 180 countries that are perceived as the least corrupt of the world. As in the previous years, once again New Zealand takes the distinction of being the most transparent of the planet.

Prepared by the organization Transparency International (YOU), known as Spanish like International Transparence, the study “Corruption Perceptions Index 2009” (“Index of Perception of the Corruption 2009”) drinks a ranking of the least corrupt nations of the planet. It is necessary to add that the above mentioned document can be consulted in the official web site of this organization.

The edition of 2009 of this classification is integrated by 180 countries of the different continents. The above mentioned list is led by New Zealand, which keeps on being the most transparent country of the world, according to the perception of the interviewees.

Denmark occupies the second place of the ranking and Singapore and Sweden they integrate the third position. The fifth place is for Switzerland; the sixth one for Finland and Holland; and the eighth one is integrated by Australia, Canada and Iceland.

In relation to the countries of Latin America, the least corrupt countries, as it is ready prepared by Transparency International, there are Chile and Uruguay, who integrate the position number 25 of the ranking. While Canada is the best posicionado of North America.

As regards other continents, it is important to add that New Zealand, not only it is the least corrupt country of Oceania, but also of the entire world; Denmark is the most transparent of Europe; Singapore is the best posicionado of Asia; and Botswana (also known like Botswana) is the least corrupt nation of Africa.

To finish this journalistic note, adding would be good that the countries worst located in this ranking are: Somalia (Nº 180); Afghanistan (Nº 179); and Myanmar (Nº 178).

Image of Wikipedia

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The buying and selling falls down 17,2 %

In September the housings buying and selling reduced 17,2 % as regards the same trimester of the previous year, up to a whole of 37.621 operations, of which 53,5 % was carried out on new housings and 46,5 % on second-hand real estate, as he informs the National Institute of Statistics (INE).

This interannual fall registered in September s upone to return to descents of two digits after in August the operations of buying and selling of real estate were going down lightly this level for the first time in 16 months on having registered a decrease of 9,9 %.

Although in September there sharpened the interannual descent of the buyings and sellings of housings, this fall is one of more moderates of the whole series. This way, except for the August, 2009 (-9,9 %) and that of April, 2008 (-7,1 %), the interannual September reduction can be considered to be the lowest from January, 2008.

Also, it is necessary to bear in mind that the housings buyings and sellings have usually moved in falls superior to 20 %, with a maximum of-47,6 % reached in April of this year.

In the first nine months of the year these operations accumulate a reduction of 28,8 %. Nevertheless, in intermonthly valuation the housings buying and selling increased 10,6 %, in contrast with the descent of 8,2 % experienced in August.

Against the habitual tendency, the regression of these deals was major in case of the new housings, where the buying and selling of this type of real estate stepped back 19,5 % in interannual valuation, up to 20.123 operations, being very top to experienced in August (-6,5 %).

The buying and selling of secondhand housings for his part, fell down 14,4 % in September with regard to equal month of 2008, up to adding 17.498 deals. This descent overcomes lightly the registered one in August, when the buying and selling of secondhand housings lowered 13,7 % interannually.

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The Spanish Bank supports the merger of 15 savings banks

Miguel Angel Fernández Ordóñez, the governor of the Spanish Bank, defends the need for a rapid and deep restructuring of 45 savings banks that at present operate in Spain and he thinks that up to the next spring “at least fifteen boxes should fuse with others” since at present numerous conversations exist with regard to this consolidation process in the sector.

In an interview granted to the newspaper ‘Financial Times‘ he affirms that “at least fifteen entities should fuse with others. If we have recovery, I believe that it will be able to be managed in these numbers, but if there is no recovery in Europe and the crisis continues that we will have more problems”. Also it indicates his confidence in that “next spring the restructuring of these entities should have taken place”, since “at present there are many, many mergers in discussion”.

As regards this, the British newspaper emphasizes that the quoted Spanish commercial banks have resisted up to the much better date the impact of the financial crisis that the rest of his international competitors, but it points out that and l segment of the savings banks, not quoted, with structures accionariales opaque and frequently highly politicized and tied to political interests of the regional governments they snatched market share from the banks in the icy moment of the past real estate "boom" and now they are provided with a high exhibition to the failure of real estate promoters or to the high slowness.

This way, the governor of the Spanish Bank admits that the politicization of the savings banks makes the solution “more complicated”, therefore he emphasizes the creation of the Fund for the Bank Tidy Restructuring (FROB), provided with up to 99.000 million euros, and underlines that this way it is claimed that “the taxpayer pays the least possible thing”, in contrast to the happened in other countries, while he recommends a major rationalization and cost reduction.

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Iberia loses 182 millions

As he has communicated Iberia to the National Commission of Values (CNMV), the Spanish airline obtained a few losses for 181,9 million euros in the first nine months of the year, opposite to the profit for 51,1 million euros that it registered in the same period of the previous year.

The air company, which on Thursday approved his merger with British Airways, obtained an operating profit before taxes, interests, amortizations and rent of fleet (Ebitdar) for 69,7 million euros, 81 % less than in equal period of 2008.

Nevertheless, the income of development of the airline came up to 3.337,2 million euros, what supposes a descent of 19,5 % with regard to the period in January - September, 2008. Excluding the income not appellants, the income of development of the airline would have fallen down 19,1 %, up to 3.333 million euros, owed fundamentally to the reduction of the income of air traffic.

In this respect, the company has announced that “although the reduction in passengers' terms seems to have touched fund, the demand proves to be very sensitive at the prices, especially in the length I remove”.

Iberia has shown that the air sector in Spain “faces a few exceptionally difficult “circumstances”, with an internal traffic that is suffering the impact of the economic recession and the new competition that supposes the lines of the BIRD, especially in the trajectory Madrid - Barcelona.

Also, Iberia has emphasized that these results are "significantly better than achieved in the first two trimesters of the year, despite being worse to those of the previous period, when it accumulated a few losses for 165 million euros.

Nevertheless, in spite of these numbers, the airline thinks that his financial s ituación and of liquidity “it keeps on being solid”, with an exact available balance for 1.582,5 million euros, a 1,2 % more than at the end of 2008, with an exact clear indebtedness for 1.170,5 million euros, more 15,6 % with regard to the number reached in 2008.

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The sale of second-hand cars diminishes 5 % and 7 % in 2009

As has affirmed in the opening of the special edition of the Lounge of the Vehicle of Occasion of Madrid Juan Antonio Sánchez Torres, president of the National Association of Sellers of Vehicles to Engine (Ganvam), the sales of cars of occasion will fall down between 5 % and 7 % during the present exercise, up to being located concerning 1,4 million units.

This way, Sánchez Torres has indicated that the forecast of fall of the sales of secondhand cars will be located closer to 5 % than to 7 % at the end of the year, thanks to the revitalizing effect that has had the starting of the Plan 2000E and the recent enlargement of the term of execution.

This way, the maximum responsible for Ganvam has affirmed that the program of direct helps has a very positive economic effect to the motorcars buy and that also it is useful to establish a favorable frame towards the buy of both new and secondhand vehicles.

This way, the deliveries of second-hand motorcars accumulate a fall of 8,7 % in the first nine months of the year, with 992.200 units, according to information of the “Report on the Market of Vehicles of Occasion” prepared for Ganvam. Of this whole, 9 % of the sales has taken refuge in the Plan 2000E.

The deliveries of second-hand cars in Spain overcame in 37,5 % to those of new motorcars, what is translated in a relation of sales of 1,6 vehicles of occasion commercialized by new each one. These numbers represent the highest relation of the history and answer to the withdrawal of the demand of the market of new motorcars provoked by the economic crisis.

The direct incentives to the vehicles buy have motivated “a light upturn” of the sales in the last months of this year, as affirms the management one of the sellers of motorcars, with an increase of 2 % in the last trimester of the year, what it has taken to the Association to check to the rise his estimations for the closing of 2009.

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Phone companhy gains more 0,3 %

As has informed Phone companhy in a bulletin sent to the National Commission of the Stock market (CNMV), the group of telecommunications increased his net profit 0,3 % in the first nine months of the year, coming up to 5.610 million euros, reported today the group in a bulletin sent to the National Commission of the Stock market (CNMV).

Also, the Spanish company added that, without bearing in mind the appreciations obtained by the sale of Airwave and Sogecable in 2008, the net profit of the company in the period increased 6,4 %. This way, the entity directed by César Alierta registered a few income for 41.721 million euros in the first nueves months of the year, 3,3 % less with regard to the number of the same period of 2008, while the operative result before amortizations (OIBDA) reached the 16.647 opposite to 17.026 million euros registered in the first nine months of 2008.

This way, the Phone companhy told that the business in Spain registered a “strong increase” of the commercial activity in the third trimester of 2009, with significant progress in all the services, and with a “light deceleration” in the rhythm of interannual descent of the income in the last three months.

This way, the company has shown that the containment of costs and of the investment allowed to limit the pressure of the income. The clear amount of the business number of Phone companhy in Spain was located in 14.655 million euros, 6,7 % less than in the first three trimesters of 2008.

Of the same way, Phone companhy has emphasized the good performance of the group in Latin America, where his income grew a 1,9 % until September, an increase that was located in 5,8 % assuming types of constant type and including the Telemig consolidation from January until March, 2008. As for the income of the signature in Europe, these diminished 5,9 %.

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The dollar keeps on weakening

The dollar does not stop detaching, and the fact is that the euro changes again over 1,50 dollars and is supported in annual maxima. This new sample of weakness of the American currency coincides with a few declarations of Tim Geithner, American secretary of the Treasure, in which he repeated that a strong dollar is “very important” for the United States.

This way, Geithner has affirmed that he considers “deeply important for the United States and for the health of his economy to support a strong dollar”

The European currency has touched today a maximum in the meeting in 1,5045, dollars, very close to the previous annual roof of October 26 of 1,5063. In what goes of year, the euro has appreciated 7,63 %, while from the minimums of March 1,25, it has gained more than 19 % with regard to the dollar.

Traditionally the American monetary persons in charge have proved to be favorable to a strong dollar, but they seem not to be capable not of remedying his erosion that, on the other hand, helps to stimulate the American exports.

In addition to with regard to the euro, the dollar also has yielded with regard to the rest of more important coins. In particular, one has depreciated about 15 % from the maximum value reached previously during this year as regards a basket the six strongest currencies.

Robert Zoellick, the president of the World Bank, has sent today a message to the USA. as regards this situation. This way it has urged to the country prison for Barack Obama to contain his big deficit and to support the credibility in the dollar, which depreciation worries to the rest of the economies of the region Asia - Pacific Ocean.

The president of the World Bank, which is in Singapore to inform in the Forum of Economic cooperation Asia - Pacific Ocean (APEC), has affirmed that immediately after the financial crisis the national banks will have to raise in the short term the option to diversify his reservations in currencies till now dominated by the dollar, to give entry to other coins, as for the example the Chinese yuan.

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GM will load with the costs of sanitation of Opel

Angela Merkel, has confirmed that, after the decision of General Motors not to sell Opel to Great, the American group General Motors will have to pay with his own money the principal cost of the sanitation of the European manufacturer of motorcars.

This way, the chief of the German Government has raised this claim in his first Government declaration before the Bundestag, the German parliament, from the formation of the new coalition government between Christian Democrats and liberals that it implies his reelection as prime minister of Germany.

Merkel has made use of this intervention to reproach hardly the American car group, warning that he will not be the German taxpayer who assumes the principal load of the sanitation of Opel, and accusing GM of “of without doing justice to his responsibility like consortium counterfoil”.

Nevertheless, the German chancellor emphasized the disposition of the authorities of Berlin and the four federated states with plants of Opel to contribute his help for the restructuring of the mark Opel. Also, Angela Merkel has pointed out that it was in expectation that General Motors presents a plan of solid future for the European motorcars manufacturer. Of the same way Merkel he remembered that the Opel workpeople have done in the last big months sacrifices and have hoped that General Motors should have a trustworthy performance, but “they have turned out to be deeply disappointed”.

Also, referring to the recent decision of General Motors to suspend the process of sale of Opel to the group south wind - Canadian Great, and without concealing his annoyance, the chancellor said that he was sorry that the operation, which was provided from a beginning with the support of Berlin, has not carried out finally. Also it pointed out that the German authorities hope now that GM should be sick before the present month finishes the credit bridge of between 800 and 900 million euros that Opel has received from the German Government to assure his survival while his future was decided.

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I match between British Airways and Iberia

British Airways discusses if it closes a minimums agreement with Iberia, and the fact is that to the British airline the term is finishing him to decide if he accepts a minimums agreement with Iberia with which to be able to begin the merger or break definitely the negotiations with the Spaniard.

The executive organ of the British air company will decide if an intentions agreement signs with his partner, later to be detailing the particulars during the next months, for itself to close the legal fringe facing the spring 2010.

This agreement should sit the principal lines of the operation. On the one hand, it would fix the financial head office, which would be located in London, and the social head office, which would take Madrid as a destination. On the other hand, also would notice who there will be able to choose the president of the new holding, which in this case would be Iberia and who will name the manager, who would be British Airways.

Also, it is necessary to close also the whole of members in the council of one and another group. The habitual thing is that the organ is composed for between 11 and 13 persons and that it has the same number of members of both companies, having the vote of grace the manager.

Also it would be established also l to equation of swap that would be near to 55 % for British Airways and 45 % for Iberia, although at the end of yesterday and bearing in mind the stock-exchange capitalization of both airlines, the proportion should be a 58 % for the British group and a 42 % for the Spanish airline.

Until now this minimums agreement and ra complicated because both airlines had different pretensions. Iberia wanted to include too many details and British not. In the last days, the British company has solved one of the big questions that him arose in this process: to know the new president of the maximum shareholder, Caja Madrid, of his Spanish partner before taking the definitive decision.

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Hochtief will extract to bag his authorizations branch

The German construction group controlled in 30 % by ACS, Hochtief, has announced that it will place in bag his authorizations branch before end of year “whenever a suitable environment of the market is supported”. This branch is valued for 1.540 million euros, according to the information of closing of last June, and counts with a portfolio integrated by six airports, highways and tunnels that add 750 kilometers long, 89 schools, between others.

Between all these assets they emphasize, as for freeways, three routes, in Germany, Australia and Greece, respectively. In what there refers to airports, the Germans of Dusseldorf and Hamburg, the international one of Athens, that of Budapest, that of Sydney and that of Tirana (Albania).

This way, Hochtief Concesiones has emphasized his aptitude to keep on generating positive net profit (although minor) despite the current conjuncture of economic crisis. At the end of last September it registered a profit of 28,4 millions, half of the registered one one year earlier. The company makes sure that this information and the cash flow that generate his assets constitute “an indicator of which they will be capable of paying dividends”.

As the company has advanced, the mentioned laying will include also a share offer of sale (OPV) and an enlargement and capital subscription, without specifying still the percentage of his share capital that it will place, although it guaranteed that the group will preserve the majority. This way, with this exit to bag of his authorizations, Hochtief chases “to help to finance the growth” of this business branch in which he foresees to invest 500 million euros in the project portfolio that it already manages during the next five years, of between those that there emphasizes that of the airport of Budapest, which will suppose an amount of 321 millions.

This way Peter Noé, the future manager of Hochtief Concesiones and member of the Executive board of the group, he has emphasized the potential of growth that presents the market of construction and infrastructures management. Also he added that they want “to make use of these opportunities, we are ready to go out to bag”.

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Yoigo predicts for 2010 a price war

Yoigo, which is already the fourth operator of mobile telephony in Spain foresees that during 201 a price war takes place in the sector of the operators of telephony. This way, the manager of the company, Johan Andsjö, affirms that margin still exists so that the companies lower more his tariffs and that the operators support high prices that, due to the crisis, will not be able to be supported.

This way, manager has predicted for 2010 the consolidation and, even, an increase of the current tendency in the descent of the prices of the telephone operators. “2010 will be a year of price war”, he confirmed.

For Johan Andsjö, the current situation of economic crisis is not ideal for the appearance of new competitors on the market of the operators. Also, he thinks that many of the virtual mobile operators (OMV), that is to say, companies without proper network that rent the networks of the principal agents of the market, will disappear as a result of the adverse economic conjuncture.

As for the piracy, Andsjö has thought about the polemic decision the French Government to apply courts in the Network to finish with the illegal discharges in Internet. According to the executive of the measured above mentioned Yoigo, who might come very quickly to the United Kingdom and Spain, it is not the best way of fighting the piracy: "This measurement is not effective. The operators we cannot determine what is legal and what not; this is not our task”. According to the opinion of Johan Andsjö, to cut the access to the network supposes to assume more proper functions of the police.

This way, these declarations coincide with the approval that it has carried out today the European Union according to that the administrative authorities of the Member states will be able to cut the access to Internet without previous judicial order. The above mentioned cut will be able to be applied to those users who unload contents protected by copyright, as they have already requested France, the United Kingdom or Spain.

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Caixa Gallicia and Caixanova close to fusing

The panorama in the Spanish savings banks continues a very clear tendency before the crisis: to join before the adversity. This way we are living through an authentic mergers wave in different autonomous regions, and now it is Gallicia who has taken the determination to join to his two boxes.

Caixa Gallicia and Caixanova already prepare a process of merger that can derive in the creation of the fifth savings bank of the country for assets volume. With the current numbers there would become the fourth one, but they would turn out to be overcome by the process in which immersed Caixa Catalunya is with Tarragona and Manresa. This way, Caixa Gallicia and Caixanova would add almost 71.000 million euros in assets, being Caixa Gallicia slightly major than his futiro associate: 45.000 millions for 26.000 of Caixanova. Also, between both financial institutions they add more than 1.400 offices. Nevertheless, notable duplicities exist between his networks that would allow a notable cost efficiency.

On the other hand, the process would be provided with the help of the Fund of Bank Tidy Restructuring (Frob), created precisely to support the entities integration. In slowness terms, two Galician entities were overcoming 4 % in June, in line practically with the average of the sector of savings banks.

The team of president of the Galician autonomous government, Alberto Núñez Feijóo, met recently the Caixanova dome and that of Caixa Gallicia. To these meetings not the proper Feijoo on having been in Madrid in the meeting of the National Executive board of the PP. In his comeback to Gallicia, the president of the Xunta said that his Government will adopt a definitive decision “once evaluated and studied” the account of results of both boxes. The Galician Executive tries to make his position public before the year finishes.

Guillerme Vázquez, the national spokesman of the Nationalistic Block Galego (BNG), gave for fact that there will be merger between both boxes, be already by means of a full integration or across an Integral System of Protection (SIP). For his part José Blanco, the general vicesecretary of the Spanish socialist party and the minister of Promotion, allowed to make out that he would prefer that the Galician boxes were looking beyond his territory for possible merger processes.

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Finally General Motors will not sell Opel to Great

After a meeting in Detroit, the council of administration of General Motors, he has decided not to sell finally Opel, his European branch, to the Great Canadian company International. The sale of Opel was like the principal point of the agenda in the meeting that there celebrated at the beginning of November in Detroit 13 members of the Council of Administration of General Motors.

Fritz Henderson, the manager of GM, has told by means of a bulletin, that the American group has decided for studying the possible Opel restructuring and has announced that shortly it will present a concrete plan to the German Government. This way, the manager of GM, who till not long ago was defending the option of the sale to Great, has affirmed that they are “conscious of the complexity and scope of this matter, and of the depletion that has provoked all the affected ones”, but that “from the beginning, our target has been to assure the best long-term solution to us for the clients, personnel, providers and concessionaires, and this is precisely what is reflected in the decision that we have adopted today”.

Also, also he declared that they understand that “this decision is the stablest and that of minor cost to assure the future of Opel and of Vauxhall (another mark that was going to be sold) in the long term”.

GM has communicated that the final decision has owed to “the progress of the business conditions” that there have observed in the last weeks, in addition to the importance of two marks, Opel and Vauxhall, which were in sale.

Also, the agreement of sale of Opel to Great was including an agreement that was involving also the German government, according to which the Germany would offer financing to the company for several of thousands of million dollars to attack the restructuring, while Great he was promising to invest 500 million dollars. Nevertheless, GM has chosen to remain with the German branch and attack your own restructuring, in which he thinks that he will end up by investing approximately 3.000 million euros.

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The European Investment Bank supports Spain

The government of Spain signed an interesting agreement with the European Investment Bank (BEI) to keep on improving the Spanish railroad network. The financial organism will contribute a sum of money that is about 5.000 million euros for the project financing of high railroad speed in Spanish territory, as one informed some days ago from the proper Presidency of Spain.

In an act realized in the city of Madrid, the minister of Promotion, José Blanco; the president of the European Investment Bank (BEI), Philippe Maystadt; and the president of the Manager of Railroad Infrastructures (ADIF), Antonio González, they signed an agreement to finance investments in lines of high speed to Extremadura; to Alicante and Murcia; to Burgos and Vitoria; and to Gallicia, he reported the web site of Presidency of Spain, that he added that these projects will be carried out during the year 2010 and 2015.

As regards this topic, the minister of Promotion of Spain, José Blanco, said that the European Union turns again into a principal actor for the progress of the above mentioned country, published the web site of this secretariat of the State, who added that the leader believes that the high speed plays an important roll for the progress of any country contributing, for example, to the sustainable development.

On the other hand, the person in charge of the European Investment Bank (BEI), Philippe Maystadt, expressed that the agreement will think about how, between other things, to improve the transport network in Spain, informed the web, which added that across these projects more jobs will be created.

According to the Presidency web page, this is the third agreement of similar characteristics that sign the government of Spain and the European Investment Bank. The previous ones were realized in the year 2002 and 2006 and the investment was 20.000 million euros in whole. It is important to emphasize that successful results were achieved in both occasions.

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Metrovacesa and the management of his debt

The BBVA has communicated to the National Commission of the Stock market (CNMV) that the operation in which it moved 7,9 million actions of Metrovacesa to an average value for 45 euros for action, the double of the price of market, is an only one transfer from his branch Shelters BBVA, “without the above mentioned transmission having implied some hereditary effect“.

This price supposes more of the double of the yesterday closing price, of 20,98 euros. When BBVA entered the capital of the real estate agency, it did it at a price for 45 euros for action. This way, the bank has been confirmed across by the CNMV that limited itself to penetrating the control of this participation “from Singular Anida Operaciones (branch 100 % of BBVA) to BBVA”.

Nevertheless, on the financial markets one speculates on the possibility of that puediera there is an investor of the Arab Emirates might be interested in acquiring, together with surface rights of certain property assets of the group, a percentage accionarial significantly of the real estate agency.

Metrovacesa, that after the exit of Román Sanahuja of the presidency and the delivery of his actions to his deserving banks in exchange for debt cancellation, there is controlled from the beginning of the year by a group of financial institutions, composed fundamentally by Santander, Banesto, BBVA, Box Madrid, Sabadell and Popularly, adding up between every 65 % of the capital of the real estate company.

At present, and after completing a process of internal restructuring, Metrovacesa is immersed in a process of refinancing of his debt to the corporate deserving banks led by Barclays and Royal Bank of Scotland, being located the debt of the group over 6.000 million euros after the shake who for the company supposed the Spanish real estate crisis

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The difficult decision of the BCE

The European Central Bank (BCE) is the manager of deciding the increases or descents of the interest rates for the Euro area. That the most difficult task takes a fancy when it is a question of an area integrated by different economies that grow to different rhythms. This way, Germany already asks for an increase in the interest rates, while for countries as Spain or Ireland it would ballast enormously he would suppose a pernicious situation.

At present the types are in 1 %, but the European Central Bank will face a complicated quandary in the next months because everything points for which the economies of the region will go out of the recession to different that would need different measurements. Some economies as the German or the French might need a few increases of types that would be very harmful to Spain.

Gilles Moec, economist of Deutsche Bank in London, thinks that “the BCE will have to normalize the types next year and this will beat to countries like Spain and Ireland that they will remain in recession and loaded with a big heap of debt”, he mentions. Moec foresees that the institution presided by Jean-Claude Trichet will duplicate the types at the end of 2010, which at present place 1 % in what it is his historical minimum.

The principal economies of the Euro area, which are Germany and France, have already gone out of the recession in the second trimester of this 2009, there being registered positive interquarterly growths. Also these two countries will support the footpath of the recovery in the next trimesters of the year and will grow 0,2 % in 2010 according to the forecasts of the European Commission.

Exactly in the opposite situation there is Spain, which according to the said forecasts of the European Commission will be the only one of between the big States of the EU that supports a negative growth in the fourth trimester of this year, and which will suffer the biggest budget deficit of the region. Also, the Commission foresees that our economy contracts 0,9 % in 2010.

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The fifth biggest bankruptcy of the USA

CIT, the American financier specializing in credits to students and pymes, has declared himself in bankruptcy. This is the fifth biggest failure of the history of the North American country and it makes the bogeys of the crisis reappear after the first signs of recovery of the American economy.

This way, CIT with a few assets for 71.000 million dollars, is the fifth biggest company that Worldcom and General Motors brings in in failure in the history of the United States, behind Lehman Brothers, Washington Mutual.

The creditors have already agreed a plan of restructuring of the company, with which they hope to go out of this situation. On the other hand, The subsidiary CIT operators, including the CIT Bank, have not been considered in the failure declaration, and hope to be able to keep on working as they had doing it. CIT glides to reduce his entire debt in approximately 10.000 million dollars.

The Department of the American Treasure has affirmed that the Government will not be a capable great derecuperar of 2.300 million dollars with what it helped to the entity, if perhaps it manages to recover something.

CIT Group, which was founded in San Luis in 1908, is provided with a credit portfolio superior to 65.000 million dollars, is present in more than fifty countries and operates in an about thirty of sectors.

The bankruptcy to to the one that has turned out to be exposed due to his excessive exhibition to the mortgage loans and to students with a high risk profile, supposes giving lost 2.300 million dollars that the American Government has invested to try to save the company. This way, since the financial crisis began, the Government of the United States has invested nearly 400.000 million dollars trying to rescue companies with problems, especially insurers and manufacturers of motorcars.

In order to a temporary employee gone out of the bankruptcy facilitates, the financier has managed to reach an agreement with the businessman Carl Icahn, who has promised to support the plan to go out of this situation with 1.000 million dollars in financing.

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The sale of motorcars grows in October

For the second month in a row, in October the sales of vehicles have increased. This way, or the registrations have increased in 26,4 %, amounting to a whole of 98.202 units, according to the information facilitated by the National Association of Sellers of Vehicles to Engine (Ganvam) and the Federation of Concessionaires' Associations of the Motoring (Faconauto).

This increase supposes the second monthly ascent, after the increase registered in September, which came up to 18 %. This way, the change of tendency seems to be confirmed on the car market thank you mostly to the direct helps gathered in the Plan 2000E.

Nevertheless, in spite of the latter information, the annual piled up one of registrations it is 775.378 units, 24,4 % less than January - October 1.025.000 of last year, fourteen percentage points less than the obtained one in June, the first one in the one that the effects of the Plan saw 2000E, that came into force on May 18.

This increase of the market is taking place thanks to a strong growth of the demand, especially of the individuals' buys, which until a few months ago he was suffering a few strong falls, but which 54,9 % was happening to increase in October, adding up to the buys of the companies not alquiladoras, that show an advance of 28,3 %.

On the market of the vehicles of rent, the buys have diminished 29 % in October, supporting his valuation of negative change in 58,5 % in what it goes of year.

As have affirmed the associations previously said, the Plan 2000E, that was started jointly by the Government, the Autonomous regions and the manufacturers and importers, is “a key piece in this improvement of the market”. Also it affirms that “the decision adopted as the Government to renew the above mentioned Plan until the end of the year and a possible endowment for the next one included in the General Budgets, has been valued positively by all the classes of the sector, especially in such a complicated economic moment”.

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Spain, the European country with more I give birth

Spain is already not the country of the EU with the highest unemployment valuation, since hard recession has been overcome by Latvia, which economy crosses one especially with a contraction of the GDP of 18 %. This way, according to the Eurostat information, the unemployment valuation in the Latvian country has increased 1,1 points up to being located in September in 19,7 %, 4 tenths over the Spanish valuation, which has been located in 19,3 % due to the increase in 5 tenths of the valuation.

For his part, the unemployment in the Euro area has raised a tenth again last September up to 9,7 %. It is a question of the biggest valuation of unemployment reached by the countries that share the single currency from 1999.

Nevertheless, although Spain has stopped being the country of the EU with a major unemployment valuation, it keeps on increasing in many major proportion than the average of the EU. This new increase of the unemployment in the countries of the euro similar to that of August, places the unemployment valuation in his highest level from January, 1999.

For the whole of the European Union, the increase of the unemployment was also of a tenth in September, what placed the valuation of unemployment of the union in 9,2 %, what supposes the worst fact in more than ten years.

Translated for number of persons, the unemployment affected in September to 22,213 millions of of European citizens in age of working. 5.011 millions are this number more than in the same month of 2008. For the countries of the Euro area it affected to 15,324 million, 3,204 millions more than one year earlier, according to the Eurostat information.

For the positive side, the only countries in which the unemployment did not grow were Belgium, which was supported with 7,9 %, Germany (7,6 %), Malta (7,2 %) and Slovenia (5,9 %), while Holland, with only 3,6 %, is the country associate with the lowest valuation, most followed by Austria (4,8 %), although both countries registered monthly increases of a tenth.

Image: Manuel Atienzar

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Brazil thinks about how to be the fifth economy of the world

Brazil is the country with the most powerful economy of Latin America and member of the G13 (the G8 more five emergent economic potency). This South American nation wants to keep on growing and it will have a lot of possibilities of doing it in the next times. Some days ago the president of Brazil, Luis Inácio “Lula“ Da Silva, redoubled the bet and affirmed that his country will work untiringly to turn into the most powerful fifth economy of the world.

Brazil has a very promising future. The South American country will have two only opportunities to demonstrate what is capable of doing across the organizations of the World cup of Soccer and the Olympic Games, to be realized in the city of Rio de Janeiro in 2014 and 2016, respectively.

But although these sports events are important for the future of Brazil, there are other topics of vital importance for the above mentioned country.

In the last hours, the president of Brazil, Lula Da Silva, said that his country will work after one of five nations becomes with the most powerful economies. It is important to clarify that at present his economy is the ninth one more important than the world, according to information of the Wikipedia in Spanish, which also he adds that it is the principal one of Latin America.

The chief alluded to a study realized by the World Bank (BM) that expresses that, if it continues the growth, Brazil might turn in 2016, the same year in the one that the Olympic Games of Rio de Janeiro will develop, in the fifth biggest economic potency of the world.

During the radial program “Breakfast with the President”, the president Lula Da Silva expressed that it is going away for a good way. According to the chief, the economy, the industry and the commerce are growing, employment is generated and the wage mass increased”, he reported the web site of Brazilian Presidency.

From the proper government this information of the World Bank has taken as a challenge. Lula expressed that it is necessary to do the things well; as for example to increase the credits and to reduce the tariffs to cheer the Brazilians to buy up products, he published the web.

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Japan supports the types to 0,1 %

The Japanese country has characterized in the last decade for a politics of bajísimos interest rates, and this epoch of crisis seems that it is not going to change his strategy. This way, the Bank of Japan (BOX) has decided to support the interest rates in 0,1 %, appraises to the one that they are from December, 2008.

Also, the Japanese issuing entity (equivalent to our Banco Central Europeo) agreed to support some of the extraordinary measures that were taken in the autumn of last year, this way to keep on providing of liquidity to his markets. The governors' meeting of the Bank of Japan has decided, in an unanimous way and after a meeting of an entire day, to support the interest rates, which previously had reduced from 0,3 % 0,1 % last December, this way to try to stimulate the crecimento of his economy, the second economy of the world.

At the same time, the entity agreed to extend until March, 2010 his program of extraordinary loans to the companies, this way to be able to assure the stability of the markets. Also he decided that, as was foreseen, at the end of this year they will conclude his buy operations to the banks of managerial debt.

The Bank of Japan has told that, although the problems are supported on the financial market, this one has been “showing increasing progress signs”, especially as for the bonds markets, having achieved this way the due targets. L to Japanese financial institution it had put into practice in autumn 2008, in full economic crisis, a series of extraordinary measurements to facilitate the access to instruments of financing across a low interest for the companies.

Japan, considered the second world economy especially for his preponderant commercial role, left the recession in the second trimester of this year, after his Gross National Product (GDP) grew 2,3 % to annual rhythm.

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The USA. will reduce the wages of the public enterprises

The president of USA. UU, Barack Obama is ready to finish with the wage outrages and the excessive bonus of the executive high places, especially of the companies taken control with public money in the plans of financial rescue.

This way, and l department of the American treasure would be preparing a plan so that the managers of the mentioned companies and banks that have received public helps diminish 50 %, the entire remunerations, including the bonus, according to the sources consulted by Bloomberg and The New York Times. This would suppose that the fixed salary that they perceive in cash, and the bonus does not count (that includes actions, options on actions, insurances and pension funds), would turn out to be reduced in 90 %, if it is compared with what they charged the previous year.

Between these high charges the managers are at the head of the big financial institutions as Citigroup or Bank of America, which they will be most affected by the plan that the Treasure will present the same week. And the fact is that the indignation for the high wages of these managers and the millionaire indemnifications that many of the managers have received on having left these companies they have "bothered" to the administration Obama on having seen how the population was getting indignant on having been witnesses of how some of the principal culprits of the crisis were going away of "rositas", and for more inri, there being pocketed the public money of the financial rescues.

The target of this new plan is that seven companies and entities that have received the principal game of public money cut away the fixed salary of his 25 executives better paid in 90 %. In some cases, the salary in cash that they receive might be compensated by remuneration in actions, but they would have restrictions to sell them, avoiding so they could support the salary carrying out this "pitfall".

Timothy Geithner, the secretary of the American treasure, already gave a notice hours earlier on having dropped a hard comment on that the massive bonus payment in Wall Street has been “deeply offensive” while companies were rescued with money of the taxpayer.

Also, there has been created the figure of observer of these supersalaries, Kenneth Feinberg, it will have to supervise expenses as the services of limousines or the trips in private planes, whenever.
overcome 25.000 dollars.

Image: clspeace

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BM and Uruguay bet for schools on time I complete

The World Bank decided to keep on supporting Uruguay with the implementation of schools of finished time in territory of the South American country. As it was possible to know, the authorities of the international financial organism considered to be opportune to expand his support to the so called initiative “Third Project of Support to the Uruguayan Public School”, across the granting of a new millionaire loan.

A whole for 29,9 million dollars will be destined to the government of Tabaré Vázquez to continue with the construction, opening and starting of schools of finished time.

This way it has been decided by the authorities of the World Bank who resolved to keep on supporting to the Third Project of Support to the Uruguayan Public School, an initiative known also like Mecaep. The BM will grant to Uruguay an important additional loan for 29,9 million dollars, he reported the official web site of the BM.

Across this interesting he programmes, one looks for the expansion of the model of schools of finished time; the progress the formation system in teachers' service and the incorporation of teaching materials; as this way also the strengthening of the capacity of evaluation and monitoring of the educational areas, he published the web.

Between other things, there wants to increase the number of students who study in these educational centers, it spread the web page of the BM, which added that at present there are 35.670 inscribed pupils and one hopes to be provided with 47.000 in the next two years.

As regards this topic, the Presidency of Uruguay informed that across the Mecaep there has been created until now a whole of 130 schools of finished time, which lodge about 35.670 pupils in the whole Uruguayan territory.

It is important to add that another five educational centers of similar characteristics will inaugurate soon in the departments of Montevideo, Maldonado and Cannelloni, he informed the web page of Presidency, which added that during the year 2010 one will begin to construct some more.

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