News – Business & Economi

The European Commission on Friday gave the green light to unconditional takeover of Edison by EDF Italian electricity.

"In a decision dated May 10, 2012, the European Commission has approved without conditions the acquisition of sole control by EDF Edison under the European regulations on the control of concentrations, "said the EU executive said in a statement.

"This decision raises the condition precedent to the completion of this transaction related to obtaining permission from the relevant competition authorities," added the Commission. 

Upon publication of its turnover, Thursday, EDF said it has completed the first quarter of the takeover of Edison, for which the French electricity has increased to 0.89 its offer per share to minority shareholders. This new proposal represented for him a net additional cost of 25 million euros.

The one, who runs short of personal cards often face losses in the form of loss of new business orders. Running out of business cards is the worst situation one can get in the commercial world.

Deutsche Telekom said Thursday it kept its annual forecast issued after the morning a current profit unchanged, reflecting a stabilization of its European operations, which still face a stable environment.

Earnings before interest, taxes, depreciation and amortization (EBITDA) came out unchanged at 4.48 billion euros in the high end of analysts' forecast whose consensus ranged from 4.32 to 4480000000.

"It was a very good quarter for us," said Chief Executive Rene Obermann said in a statement.

"We have made significant progress in many areas and we can now confirm our annual target."

The Bonn-based group predicted a current profit excluding items of 18 billion euros against 18.7 billion in 2011

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At nearly $ 120 million, a version of "Scream" by Edvard Munch became a work of art the most expensive ever sold at auction. Sale by the businessman Norwegian Petter Olsen, identity is unknown to the buyer. The sale of the Munch allowed Sotheby's to beat its previous record for an evening auction of impressionist and modern art.

A version of "Scream", the Norwegian painter Edvard Munch, was sold Wednesday night for 119.92 million dollars in New York, becoming a work of art the most expensive ever sold at auction. The sale in the crowd of Sotheby's lasted only 12 minutes, sometimes climbing the auction of more than 10 million in one minute. In an electric atmosphere, seven buyers were hotly contested this work lighthouse, which was estimated at 80 million.  

The pastel made in 1895 and representing a man shouting, hands on ears, bloody sky background in Oslo, was the only one of four versions of "The Scream" still owned by an individual. The sale ended to loud applause, while the auctioneer Tobias Meyer announced a "world record". No detail was given on the buyer, in the center of much discussion after the sale, but the seller, businessman Norwegian Petter Olsen, said he was "very happy" to have become man such a record, at a brief press conference.

Between 1893 and 1910, Munch, expressionist painter (1863-1944) had made four versions of this table over the years become a symbol of universal anxiety. Wednesday night that sold during the sale of impressionist and modern art at Sotheby's for 70 years belonged to the family Olsen, Petter Olsen holding his father Thomas, neighbor, friend and protector of Munch. She had the particularity to include, in red letters inscribed on the frame of light wood, the poem that inspired this work among the best known in the world.

The other three versions of the table belong to the Munch Museum in Oslo (2) and the National Gallery in Oslo (1). Welcoming a "historic evening", Simon Shaw, head of Impressionist and modern art at Sotheby's, emphasized the universality of "Scream", the "key to the modern consciousness". The painting, which was the subject of countless books, films and studies, and has been declining over the years on mugs, calendars, t-shirts and other objects of daily life, is "one of the few images that transcend the art and history to reach the international conscience, "he stressed before the sale.

Only eight works had previously exceeded $ 80 million at an auction, and none had reached 100 million under the hammer, which was the case for Munch. The world record was previously held by Picasso, "Nu au Plateau sculptor", sold $ 106.4 million (with fees) in May 2010 at Christie's in New York. In his diary, January 22, 1892, Munch had explained his inspiration for "The Scream": "I was walking on a path with two friends. The sun was setting. Suddenly the sky turned blood red. I stopped, exhausted, I'm leaning on a fence, there was blood and tongues of fire above the blue-black fjord and city. My friends have continued, and I just stood there, trembling with fear. I sensed an infinite scream passing through the universe "

. Wednesday evening, Petter Olsen gave his own interpretation of a work" remain a major force in (his) life "." The Scream shows the scary moment for me where man realizes his impact on nature and irreversible changes that he initiated, making this planet more inhabitable, " he said, paying tribute to the vision "prescient" by Munch. With the revenues from the sale, he planned to build a new museum dedicated to the artist in Norway

.. The sale of the Munch ……. allowed Sotheby's to beat its previous record for an evening auction of impressionist and modern art, which was 286.2 million dollars, and dated from 1990. Wednesday night, the sales of 65 of the 76 proposed lots totaled 330.56 million dollars.

U.S. stocks open on a technical rebound Wednesday after five sessions of losses on the S & P 500, investors seemed encouraged by the results published by the giant Alcoa aluminum, the first of the season.

In early trade, the Dow Jones gained 0.8% or 103 points to 12,822 points. The Standard & Poor's, wider, takes more than 1% or 14.10 points to 1372.81 points while the Nasdaq composite was ahead by 0.9% (26.61 points) to 3017, 80 points.

Alcoa wins over 7%. The group, considered a good barometer of the U.S. industrial sector, has emerged, to everyone's surprise, a positive net income in first quarter 2012, the for improved market conditions.

A 10.8% of the workforce, the unemployment rate in the euro area in February reached its highest level in fifteen years. An employment agency in Malaga. Spain has an unemployment rate above 20%

This is a direct consequence of the crisis and the lack of growth. The unemployment rate in the euro area in February reached its highest level in fifteen years, to 10.8% of the workforce, according to data Monday from the EU statistics office, Eurostat.

According to Eurostat calculations, 17,130,000 people were unemployed in February in the euro area, or 162,000 more than the previous month. This level ever since the creation of the euro area exceeds forecasts of analysts polled by Dow Jones Newswires who had forecast an unemployment rate of 10.7% in February, as the previous month.

This is the tenth consecutive month in which unemployment has reached or exceeded the threshold of 10% in the euro area. Result: the euro zone now has 1.476 million more people unemployed than a year earlier.

Throughout the European Union (EU), the unemployment rate rose to 10.2% in February against 10.1% in January. This is also setting a record, said Eurostat. Once again, Spain is the bad boy of the EU with an unemployment rate of 23.6% followed by Greece with 21% (where the latest data refer to December), Portugal (15%) and Ireland (14.7%). In Italy, unemployment reached a record high of 9.3% in February.  

In contrast, the unemployment rate the lowest were recorded in Austria (4.2%), Netherlands (4.9%), Luxembourg (5.2%) and Germany (5.7%) .

The Parisian house prices are falling for the first time since 2009. This trend can it last? The responses of Sébastien de Lafond, President of MeilleursAgents.com. Paris Real Estate, Second District, Point Trigano.

After the delirium, appeasement. The Paris property prices are going down, all professionals are unanimous, including notaries. The period October 2011 to January 2012, the price per m2 of housing in Paris and has declined slightly, to 8340 euros/m2, instead of 8370 euros previously. This represents a 0.3% decrease. The capital rappoche so the trend throughout the Paris region (-0.6% over the same period). Certainly, the decline is limited, but it denotes with previous years of sharp increase. The notice of Sébastien de Lafond is President of MeilleursAgents.com.

What do we see on the Paris market?

The Paris market has long been an exception to the French property market. If you look at the figures for previous years, between the third quarter 2009 and third quarter 2010, prices rose by 13.8% in Paris. And in 2011, the increase was 15% for old apartments. Result, the price per m2 in Paris reached 8,344 euros. The left bank has skyrocketed. First explanation: the exploding demand, strong excess relative to supply, fueled by several factors: historically low interest rates, a preference for stone instead of the stock market, investors have never been as many ( 26% of buyers, against 16% in all of France). All in a context of shortage of housing. In Ile-de-France, we need 70,000 homes a year to meet demand, then we do not built for that half hour. Another factor increase: foreign demand, which influences prices in many districts, the first in the eighth arrondissement, the 16th-but also and especially on certain types of property high-end or central ashore. This is a customer with high purchasing power, thus likely to distort the market structure high-end. Still, foreigners account for barely 5% of buyers.

The price on the Paris market have they peaked?

Today, no doubt, this market is cooling and has been since last July. The last six months, prices in Paris intra muros lost 3.5%, even lower in the inner suburbs and it is around 5% in the outer suburbs. Similarly, the transaction time is 50 days in Paris twice a year ago and 40 to 80 days in the Ile-de-France. In nine out of 10 districts, prices declined in the fourth quarter of 2011 versus the third quarter of that year. The volume of property transactions fell 15% in Paris and 20% in small and large crown.

How can we explain this decline?

On the one hand, we lost 30% of buyers from last year. First reason: the prices in Paris and the Ile de France have reached very high levels. For proof, from June 2009 to June 2011, they increased by 29%. Given this rise, many buyers say "stop". Another reason to be bullish: the banks are much more restrictive in terms of access to mortgages since the Greek crisis. Now, exit the small arrangements if you are on probation or if you have a low intake. Have a permanent and present a contribution of 5 to 10% is the rule in any bank. Moreover, the monthly credit shall not exceed 1/3 of disposable income of the borrower. Finally, we lost about 10% of buyers due to the suppression of PTZ + in the former, which was included last year in 40% of real estate transactions in the former.

On the other hand, the decline was due to the 20% of sellers and less. The sale is generally followed by a purchase. But in an economic context is not conducive to going into debt over twenty years, coupled with a fear of the future and an uncertain economy, people are more cautious. Finally, the election deadline pushes the real estate project.

The decline in the market Ile can it continue?

We announce a drop of about 5% to 10% of Paris and the Ile-de-France at least until June But this drop will not be sustainable if rates continue to decline as is currently the case in most banks. Because if interest rates fall, prices rise. However, if they increase, prices are revised downwards. This hypothesis is highly possible with the economic crisis in Spain today. The rate of OAT, (the rate at which borrows France over 10 years) may increase. However, if lending rates rise by 1%, prices could fall by 15%.

Beyond these predictions, the basic problem remains, we have a deficit of housing particularly marked in the Paris region market. Given migration, birth rates, etc.., Demand for the stone is too large to attend a substantial fall in prices in Paris, in small and large crown. The new housing shortage keeps prices. It is for this reason that the drop is, and will only be on if the new housing construction remains at this level. Buyers should not expect a substantial fall in prices. Today the market is experiencing a slight decline. This is a good time to buy in Ile-de-France.

But who can still buy in Paris?

In the capital, buyers under 30 have almost disappeared but the secondo-time buyers drive the market. Those buy for resale and are immunized against rising prices. We defined three categories of buyers. High-income couples, 30 to 40 years, may in turn seek apartments from 60 to 100 m2 through debt of 20 to 25 years. The secondly-time buyers who bought there over five years and can make a nice capital gain are now the most dynamic part of the application. But they are experiencing shortages of goods. Finally come the investors with a medium-to long term.

Unemployment in Germany fell in March to 6.7%, its lowest level since the reunification of the country, a decline which heightens the contrast between Europe's largest economy and its neighbors and should support both consumption and wage demands.

The number of job seekers decreased by 18,000 over the past month, its fifth straight decline, returning to 2.841 million according to figures adjusted for seasonal variation (CV) published ; s Thursday by the Federal Labour Office.

This decrease is more pronounced than expected since the 35 economists polled by Reuters had expected a decline of 10,000. 

"The resilience of the German labor market bodes well for private consumption in the first half," commented Carsten Brzeski, economist at ING.

"The mild weather in March and almost unwavering optimism of entrepreneurs seem the main drivers of the improvement of the fall in unemployment announced today."

These figures are good news for the German finance minister, Wolfgang Schaeuble, whose estimates are based largely on increased tax revenues.

They also enhance the contrast between Germany and France, where the numbers of unemployment in February hit their highest level since October 1999. 

While the German population is nearly 30% higher than the French, the number of jobseekers CVS is now lower than that of unemployed Class A in the Hexagon.

SALARY INCREASES OF POSSIBLE

4%

If the German economy, driven by exports, has recovered quickly from the 2008-2009 financial crisis, it has not escaped the relapse caused the end of 2011, contracting by 0.2% in the fourth quarter due to the debt crisis in the euro area and its impact on global demand. 

It seems to be resurged since the beginning of this year, which led several economic research institutes to raise their growth projections and e ; housing with near certainty the hypothesis of a new recession (two consecutive quarters of declining GDP).

Buoyant labor market in this climate generally heckled favored improving consumer confidence, rising in six of seven months as the barometer of the GfK. 

The decline in unemployment has led parallel to the German unions claim higher wages after several years of rigor in this area: the central Verdi and IG Metall and ask one the other increases of 6.5% for the approximately five million workers they represent.

For Christian Schulz, an economist at Berenberg Bank, wage growth is "inevitable" because of tensions on the labor market.

"While it is unlikely that requests for increases of 6% are accepted, agreements with increases of 4% are possible," said he. "With inflation back to 2.1% in March, wage increases may provide important new welcome boost to consumer spending."

Many economists note, however, that the downward trend in unemployment slows as lessens the impact of reforms implemented in recent years to increase the flexibility of the labor market .

The German government is preparing to take a stake larger than expected 12% stake in EADS, parent company of Airbus, said on Friday German government source, sign that Berlin intends to defend its interests within the European aerospace group.

The German state, through the state development bank KfW, would take over the holdings of automaker Daimler and several private banks, the source said, confirming a report in the German press.

"The draft supplementary budget foresees 1.6 billion euros for this purpose," the source said.

Germany had already indicated that it would buy 7.5% of EADS Daimler. The additional 4.5% will be purchased from the banking consortium Dedalus.

Around 10 am at the Paris Bourse, EADS gained 1.29% to 30.63 euros.

EADS is currently controlled by a partnership between Daimler, the French Lagardère and the French state.

The approach of Germany could weigh in the debate between Berlin EADS on the location of production sites, while the group has already warned Germany against any attempt to engineer ; reference.

The CEO of EADS Louis Welsh defended the project in early March of his designated successor Thomas Enders to domicile a greater number of group activities in Toulouse, where the headquarters of Airbus, attracting criticism from Berlin. 

A spokesman for the German Economy Ministry had refused Thursday to comment on the information on the purchase of greater participation by the state revealed by the Financial Times Deutschland, while a representative of EADS also refused to do so.

The Tokyo Stock Exchange ended down Monday on profit-taking after gaining 3.7% during the previous two sessions and over 17% since the beginning of year.

The Nikkei lost 39.88 points (0.4%) to 9,889.86. Topix abandons 3.43 points (0.4%) to 845.28.

The Nikkei has reached in a meeting peak of 10,021.51, the highest since August 2011.

Fiat-Chrysler is working to find new partners in the automotive industry, said Tuesday Sergio Marchionne, CEO of Italian carmaker and CEO of its ally im Rican.

"We took action," he said in Brussels at an event organized by the European Automobile Manufacturers Association. "We can be an active partner throughout the world."

Sergio Marchionne has long argued already for reconciliations of carmakers to reduce their development costs and production.

Asked if he was looking for a European partner, he replied that "there are a lot more."

"I'm interested in everybody," he added.

With regard to Asia, especially Suzuki and Mazda, he said that there were "many opportunities to explore, including the following."

Sergio Marchionne has also reacted to the announcement of a possible alliance between General Motors and PSA Peugeot-Citroen.

"It is crucial that the European situation is treated. If the hypothetical alliance materializes, I hope he will consider the issue of overcapacity. "