The price of a liter of unleaded 95 euro climbed to 1.5640, while that of 98 unleaded rose to 1.6022 euro. This surge is due to tensions in Iran and the decline of the euro.
The price of gasoline at the pump hit new highs Friday in France, according to data released Tuesday by the Ministry of Sustainable Development, those of diesel playing in contrast to the decline. The price of a liter of unleaded 95 euro climbed to 1.5640, while that of unleaded 98 (whose sales are much lower in SP95) rose to 1.6022 euro, surpassing both levels records they had met in January, according to figures compiled by the Directorate General for Energy and Climate (EDCM).
However, diesel is still trending down, to 1.3960 euro per liter last week against a peak of 1.4240 in mid-January, and well below its spring 2008 record (1.4541 euro ). These are national averages calculated by the DGEC from data provided by service stations.
This surge is linked to two phenomena, geopolitical tensions (Iran, Nigeria …) that keep crude oil prices at very high levels, and weakening of the euro against the dollar, which increases the cost of black gold imported into France, once its price converted into the single currency. Diesel sales represent about 80% of French consumption of motor fuels, the unleaded 95 just under 15% and unleaded approximately 98% 5.
The French car market fell by 20.7% in January, falling to its lowest level for 14 years, the disappearance of the last scrappage sluggish economy and the sign for the sector a difficult first half. According to figures released Wednesday by the Committee of French Automobile Manufacturers (CCFA), registrations in the Hexagon emerged last month at 147,143 units, almost 39,000 less that 'in January 2011. "This is a lowest since 1998. The bad controls are not in December registrations in January (…) The first half would be difficult," said Francois Roudier Wednesday , spokesman for the CCFA. Sales of light trucks fared better, but nevertheless signed the first decline for several months with a 2.5% decline in gross (-7% on CJO) to ; 32,707 units. "This is one more indicator of the economic context, an additional amber light came on," said Flavien Neuvy, Director of the Cetelem of the car. "The trend is bad for sales to individuals, but the climate gradient will also weigh on sales to companies," he added. Around 24:30, the values are still car oriented upward, catching up after several sessions of declines. The European index sector is 2.6%, 2.1% Volkswagen, PSA and Renault 2.9% 3.4%. VERY GOOD MONTH FOR VOLKSWAGEN AND NISSAN The CCFA said that the builders who have benefited from the scrappage scheme have had their registrations plummeted. In addition, the prospect of the release of new models during the years attracted the attention of future customers, it adds. Car sales of PSA Peugeot Citroen last month fell 27.4%, while those of the Renault group tumbled 32.7% (-36.9% for the diamond brand and -10.5% for the low cost brand Dacia). In a statement, Renault blamed the decline in the ongoing renewal of its range, including the arrival of the Clio 4 in the fall. The Group nevertheless confirmed its target of a French market share close to 26.1% in 2011. Next PSA, Peugeot has also continued to be affected by pending the arrival of the 208, scheduled for spring. Other general, the Fiat brand saw its sales in France dropped by 40.9%. In contrast, German Volkswagen still has shot out of the game: Group registrations increased by 18.2%, and the only VW to 26.8% with a wide offensive in terms of products and prices. Nissan's partner Renault, meanwhile saw its sales under its own brand to increase by 19%, which allowed him to exceed the month Opel (GM group) by volume. Sign that sales may remain low for at least several months, PSA Peugeot Citroen announced Tuesday that production would be stopped a week at Mulhouse and Sochaux early March to "adapt the stocks at the request commercial ". Both sites, however, produce some best-sellers like the Peugeot 308 and 3008 and the Citroën C4 and DS4. PSA and Renault have said in recent weeks to expect a difficult environment in 2012. They expect a decline of at least 3% of the European market this year and down 5 to 8% of the French market.
Caterpillar reported Monday a record turnover and a 44% jump in profit in the third quarter, well above analysts' expectations.
With demand strong, the world's largest earth-moving machinery and equipment for the mining industry posted net earnings of $ 1.14 billion, or $ 1.71 per share, against 792 million, or 1.22 dollar per share, a year earlier.Analysts polled by Thomson Reuters I / B / E / S on average expected $ 1.54 per share.
In pre-market, the title earned 3% after these announcements.
The turnover stood at 15.72 billion dollars between July and September, up 41%, the group called a record, as the market anticipated 15.03 billion dollars.
For all of 2011, Caterpillar said he expected sales to about $ 58 billion, including its recent acquisition of Bacyrus, whereas previously anticipated sales of between 56 and 58 billion.
Earnings per share are now expected to 6.75 dollars for the year, on top of an initial forecast range from 6.25 to 6.75 dollars.
For 2012, Caterpillar expects its sales climbed 10% to 20%.
Banks must be better capitalized to avoid an escalation of the crisis that would be caused by a financial collapse, said Sunday the German Finance Minister Wolfgang Schäuble on the ZDF television, adding that banks no longer trust the to each other.
"We need better regulation and better capitalization of banks," he said.
"Everyone will not like this, but it is the best way there is no escalation of the crisis caused by a collapse of the banking system."
"The cause of this crisis is too much debt, but we must fight the danger of contagion. We must simply recognize that banks currently have more trust towards each other, so the market Banking is not working as it should.The best way to combat this is a better recapitalization. "
Belgium, France and Luxembourg have Monday morning launched the plan to dismantle the Franco-Belgian bank Dexia, the first European victim size of the debt crisis in the euro zone, after a day and a night of marathon negotiations.
At the end of a board of about noon, the directors of the former world number one funding of local authorities have approved the nationalization of Belgium Belgian activities of Dexia, Dexia Bank Belgium (DBB) specializing in retail banking.
Belgium will pay to do this four billion euros.
"This sale will be finalized shortly," advised the bank."It will enable Dexia to reduce its need for short-term financing of over 14 billion euros, will improve the solvency of the group of more than 200 basis points and reduce its portfolio of non-strategic assets of 18 billion euros. "
Matignon has in turn made in a statement that France would lean financing activities of French local authorities of Dexia Municipal Agency (DexMA), French securitization structure owned by Dexia Credit Local, the Caisse des Depots (CDC).
A consortium of funding for French local authorities will also be created and established by the CDC and the Postal Bank, also indicate the services of the French Prime Minister Francois Fillon.
As part of the new rescue plan for Dexia, already saved from bankruptcy in 2008 with a public bailout of more than six billion euros, Belgium, France and Luxembourg have signed to provide 90 billion euros government guarantees to ensure the financing needs of Dexia.
NOT FOREVER IN DBB
"States have agreed to divide this guarantee in proportions similar to those of 2008, 60.5% for Belgium, 36.5% for France and 3% for Luxembourg," reported Matignon.
Belgian Prime Minister Yves Leterme said at a news conference that Dexia would immediately pay a premium of 50 basis points in return for these guarantees.
The Belgian Finance Minister Didier Reynders said in that same press conference that the Belgian state, however, did not intend to stay forever in the capital of DBB.
Sunday morning before the meeting of a special board of Dexia, the French Prime Minister Francois Fillon met with his Belgian counterpart in Brussels and the Luxembourg Finance Minister, Luc Frieden, to find a agreement on modalities and participation of all three states.
"The three governments agreed to submit a proposal to the board that fits perfectly with the objectives of the Belgian Government, which involves taking control of Dexia Bank Belgium, secure and make it a bank very safe," he Yves Leterme said Sunday on Belgian television.?
The challenge for the three states participating in the plan was to ensure that aid does not come to Dexia worsen the situation of public finances.
The rating agency Moody's had also increased pressure on the Belgian camp Friday night: it has placed the sovereign rating of Aa1 kingdom under surveillance by explaining, among other things, will assess the costs and liabilities that the state could take Dexia in supporting.(See)
Didier Reynders has reported on this during the press conference that the debt / gross domestic product (GDP) of Belgium would remain below 100% despite the agreement of Dexia and said that the European authorities of the competition had been informed of the plan.
Dexia, the rating action has been suspended since Thursday, is at 9 am press conference to present the plan to dismantle the bank as it was approved by the directors.
The French government on Wednesday announced 12 billion euros in savings and additional revenue for 2011 and 2012 to reflect its goal of reducing the public deficit despite slower economic growth.
Prime Minister Francois Fillon has announced the lowering of government growth forecasts to 1.75% for 2011 and 2012, instead of 2% and 2.25%, forecasts that had become higher than many economists.
"The realism leads us to adjust the growth assumptions," he said at a news conference. "For 2012, caution is even more essential."
The new measures are required to report one billion euros in 2011 and 11 billion in 2012.Cancellation credit of 500 million euros in 2011 was also announced to offset extraordinary expenses already incurred.
The Prime Minister has hardened the public deficit target for the end of 2012 to 4.5% of GDP instead of 4.6% previously and confirmed the deficit of 5.7% in 2011.France has pledged to then reduce the deficit to 3% in 2013 and 2% in 2014.
Among the measures announced, a contribution "exceptional" 3% on higher income (income tax of 500,000 euros and up), which will be in effect until the deficit is reduced to 3% of gross domestic product, or end of 2013 according to the French commitments.
Its product is estimated at 200 million euros in 2012.
François Fillon announced a new step to reduce tax loopholes in 2012, higher taxes on tobacco, alcohol and sodas and the inclusion of overtime in the calculation of general relief of charges.
For the year 2011, limiting the deferral of losses on their corporate tax must report 500 million euros and a 1.2% increase in payroll taxes on capital income 200 million.
Removing a reduction Exemption real estate gains must report 200 million this year and the removal of a tax exemption on insurance agreements 100 million euros.
The 6% increase in tobacco prices should bring it 100 million this year.
UK industrial production fell in June against all odds, while the country's trade deficit reached its highest level since December, according to figures released Tuesday by the Office for National Statistics.
Faced with these figures, which indicate the fragility of economic recovery across the Channel on the eve of the release of new macroeconomic forecasts, the markets expect the Bank of England revised downward its growth projections for 2011 and 2012, if it signals a further monetary easing.
UK manufacturing output – which excludes the "utilities" and the oil and gas – has declined by 0.4% in June after rising 1.8% in MayAnalysts polled by Reuters on average expected a 0.2% increase.
Industrial production has signed its largest quarterly decline since May 2009. It fell 1.6%, even more heavily than the 1.4% decline posted during the publication of preliminary figures of British growth.
The British trade deficit vis-à-vis the rest of the world meanwhile reached its highest level since December, standing in June to 8.873 billion pounds (10.18 billion euros), against 8.467 billion one month earlier.Economists on average had expected 8.1 billion.
These figures illustrate the fragility of economic recovery across the Channel, while Britain was counting on this year's growth of exports and the manufacturing sector to offset sluggish domestic demand made by the context of fiscal austerity.
The Governing Council of the ECB, meeting Sunday, decided to intervene decisively in the markets deal with the debt crisis that has shaken the euro area, a source said on Sunday monetary euro area.
The conference of Governors has carefully studied the situation in Italy and Spain, and noted the Franco-German press, said on the same source.
The ECB "will act significantly on markets and react significantly and united," reported the source.A statement from the ECB should be released shortly, she added.
The European Central Bank was to hold a conference call Sunday on the outstanding issue of possible purchases of debt securities Spanish or Italian, the rates jumped to their highest levels in 14 years.
In a statement released earlier Sunday, Paris and Berlin have affirmed the commitment of Europe to implement rapid reform EFSF decided July 21, encouraged Italy and Spain to act, and stressed the importance of the role of the ECB, a few hours before the opening of Asian markets.
The joint statement of the French Presidency and the German Chancellor, however, evokes not the situation of the United States, including the deterioration in the sovereign rating by S & P is another point of tension over the burning.
The U.S. Treasury said Monday it plans to borrow 331 billion dollars (232 billion) in the third quarter of 2011, less than what was originally anticipated.
A Treasury official, who said the U.S. government had ended the second quarter with more cash than expected, said the department was assumed that Congress would raise the debt ceiling of the United States before the deadline Aug. 2.
Elected Republicans and Democrats, after months of discord, are working extra hard to try to vote Monday or Tuesday the agreement reached at the last minute to raise the debt ceiling of the United States.
The agreement announced Sunday evening by President Barack Obama plans to reduce the U.S. deficit of at least 2400 billion in 10 years and should allow the world's largest economy to avoid being in default.
The consumer prices in the United States fell by 0.2% in June, an unprecedented decline in a year, compared to May, slightly higher than expected, according to statistics released Friday by the Labor Department.
Analysts had expected a decline of 0.1%.
12-month price increases 3.6%, in line with analysts' expectations, and as the previous month.
The index of core inflation, which excludes food and energy, is in turn emerged up 0.3%, as in the previous month, and while economists expected 0.2%.
Over one year base prices also show an increase of 1.6%, in line with analysts' expectations and after 1.5% in May
