Business & Financial News

The Chinese government will send next year a delegation of Chinese investors in Europe to acquire companies. Nicolas Sarkozy and Hu Jintao in Beijing, April 28, 2010. French President visited China for the inauguration of the Expo.

The Chinese government will send next year a delegation of Chinese investors in Europe to "buy European companies," said Chinese Commerce Minister Chen Deming, quoted Tuesday by the newspaper Global Times. "China wants to invest its large trade surplus and will not hold billions of dollars that depreciate," said Chen Deming Monday at a conference in Beijing."We are prepared to further open our market, for example the financial sector, but other savings should in turn be more open to our place," he said, always cited by the Global Times.

The paper does not specify the countries that the Chinese delegation will visit, or the composition of the delegation, or the amount or nature of such acquisitions. China holds huge reserves, which exceeded the end of September 3200 billion. She had invested the same date of $ 1.148 billion in U.S. Treasury bills while according to experts, it holds more than 550 billion sovereign debt of European countries.

France and Germany have given themselves until the end of January to reach a fiscal union strengthened the euro area, a project that could go through the quarantine of several countries and has generated negative reactions Monday from members of the single currency.

According to sources familiar with the exchanges between Paris and Berlin, the two countries are considering a revision to bypass formal European Treaty – a process that would last 18 months as a minimum – by working on a mini-treaty outside the Community more flexible and quicker to implement.

The billionaire is the target of a tax adjustment record says Tuesday Médiapart site. The IRS would make him pay including the concealment of twelve bank accounts abroad and the acquisition of the island secret watering. Liliane Bettencourt at the fashion week in Paris, January 26, 2011.

Nearly 78 million euros. This is the tidy sum claimed by the IRS to Liliane Bettencourt said Tuesday the site Médiapart, who had access to the report of the National Directorate of tax audits (DNVSF). "These are the amounts charged (including penalties and fines) under the wealth tax for the years 2004 to 2010 and, under the income tax for the years 2006 to 2009. The Negotiations are underway on this issue, counsel for the heir seeking a reduction in the total amount of this addition, "the site.

The Polish Minister for Finance said that the ECB should act as lender of last resort to fragile countries "to ensure stability in the euro area, its mandate". A position that faces the reluctance of the institution and Germany. ECB

The Polish Minister of Finance ruled Monday that the Europeans had a choice between "a massive intervention of the ECB" to save the euro area, "the catastrophe" of a "historic economic disaster," in an interview with the Frankfurter Allgemeine Zeitung. "The dangers of contamination are now greater than ever, and the money we need to stop them have grown because we have not acted quickly enough," said Jacek Rostowski everyday German. The implementation of the stabilization fund financial EFSF long overdue for its role as a firewall and the ECB must act now, "to ensure stability in the euro area, its mandate".

"We are faced with a choice horrible. In order of horrors, the alternative is: either a massive intervention by the ECB or the catastrophe," he said. The minister, who in September had raised the risk of armed conflict in Europe if the euro crisis would lead to the collapse of the EU, in a speech to dramatic accents to the European Parliament in Strasbourg, s' Monday is called "less reassured" after two months. "The risk is that of a historic economic disaster like the Great Depression of the 1930s, lead to the final of Europe in war," he added.

The European Central Bank (ECB) refuses to act as lender of last resort of the European states by buying an unlimited sovereign bonds, as it acquires dropper and on the secondary market.

UniCredit announced Monday a capital increase of EUR 7.5 billion, having unveiled a heavy loss in the third quarter.

Italy's largest bank reported a net loss of 10.641 billion euros, depreciation included in the third quarter.

Its impairment of goodwill stand at 9.6 billion.

Its capital adequacy ratio stood at 8.74% hard at the end of September.

UniCredit said that after the issuance of securities, expected to close in the first quarter of 2012, core tier 1 ratio will increase to 10.35% according to Basel II banking standards.

Vilmorin confirmed on Tuesday its full-year after a first quarter marked by an increase of 5.9% on a comparable turnover, particularly due to the field seeds.

The fourth seed said the world from July to September quarter, the first of the year the group has traditionally been the smallest of the year as it weighs just under 15% of total revenue.Over the period, sales reached 178.8 million euros.

"In an uncertain economic and financial environment and despite the supply of maize seeds below the targets initial production plans, Vilmorin confirms its outlook for revenue growth and operating margin for the year 2011-2012 , as announced last October, "the group said in a statement.

Vilmorin is always a growth of over 7% of its consolidated revenues on a comparable basis and an operating margin of 11% research effort included.

European stock markets have reduced their initial losses Thursday mid-morning, investors hope that Greece renounces its proposed referendum on the European aid plan for the country while Angela Merkel and Nicolas Sarkozy launched an ultimatum Wednesday night Athens ordered to implement the overall European level or risk not receiving any help.

At 10:31, the CAC 40 index yields 0.12% after briefly gained 0.3%. The benchmark index of the Paris lost up to 2.6% in early trade.

The London Stock Exchange gained 0.05%, while Frankfurt was down 0.25% and pan-European Euro Stoxx 50 index drops 0.43%.

A year ago the head of state has big plans for the G20 in Cannes, hoping to legitimize its position as world leader and presidential candidate. But on the eve of the summit, Nicolas Sarkozy saw his hopes dashed. The European Council President Herman Van Rompuy, Nicolas Sarkozy and Angela Merkel in Brussels.

It must have been a great moment for France. And especially to Nicolas Sarkozy. Arriving to obtain the presidency of the G20 and G8 in 2011, with the help of his friend Gordon Brown, the head of state hoped to do two things at once: to become the great president of the International that he has always dreamed of being, and credibility for election in 2012. "In a way, it is served by the crisis," he said in November 2010, so do not hide its ambitions.At the time the French president harbored grandiose plans for the world economy: reforming the international monetary system (set the dual problem of the dollar and the yuan), limit the volatility of commodity prices, agricultural, or modernize the governance world. It will not happen, or not much. Already because of Nicolas Sarkozy's ambitions were too ambitious … But also because since November 2010, things have changed for France and its President.

Europe is no longer inspires confidence

It seems a long time since Germany and France landed at the G20 with the design, a bit peremptory, to moralize the financial world. At the time – at the G20 London in particular – the plight of the markets appeared to be the cause of all evil in the world economy.Today, on the verge of drowning, Europe assumed the costume of the responsibility for the crisis, wasting less time than it takes to say its capital credibility.

And it is likely that the G20 is a great opportunity for other states to remind him. All actors have to say good conscious "support and rebalance the global economy face significant risk of deterioration," for most, nothing can be done before that Europe treats his own evils. It is for this reason that the Europeans, Nicolas Sarkozy in the lead, have both hastened to find a solution for Greece. Alas, the great promises of the European Union will not be at the rendezvous.

Tuesday, to everyone's surprise, the Greek Prime Minister George Papandreou decided to submit the European Agreement on Greece in the popular referendum and drawing a large question mark over the future of the euro area.