The German banks make money at the expense of Greece, gave Prime Minister Theodoros Pangalos accused. He explained that this occurs when his country is waiting from Berlin and the EU assistance to remedy its financial system. “What can be seen from the German position is that banks in Germany have speculated with the bonds to its counterparts in the euro area, as allowed to play with the fate of unhappy people in my country, while on their back in Germany, make money,” said Pangalos. With almost 43 billion euro loan banks are Germany’s biggest creditor of Greece. Berlin last week to oppose the idea of providing new financial assistance to Athens and said that the Greek government only has to cope with the crisis. Greek deputy is one of the most fierce opponents of Germany. His name was implicated in a month ago, the media war between the German magazine Focus, and two Greek newspapers. Pangalos then Germany criticized the attitude of the Greek financial crisis, stressing that Athens never received adequate reparations for World War II. And came to an official note from the the German Foreign Ministry, which said that discussions about the past do not help to solve today’s problems. Now Pangalos prosecution argued with Germany’s export expansion. “Although the countries of Southern Europe suffer from the fall of the euro, German exports because of rising profits, which made massive Germany”, said Deputy Prime Minister of our southern neighbor.
(more…)

George Soros emphasized investment in gold in the last quarter of 2009 show provided the regulatory authorities of U.S. data on the positions of the fund billionaire Soros Fund Management. During the period the share of the Fund SPDR Gold Trust has doubled and so he is now the fourth largest investor in the investment company. SPDR Gold Trust e exchange largest traded fund (ETF) trading in gold in the world. As a result of the investment share of Soros Fund Management in the SPDR Gold Trust had a score of 663 million dollars, according to figures cited by Business Week. In the fourth quarter of last year, the Soros Fund has actively invested in oil company Hess, U.S. telecom giant AT & T, as well as the car-maker Ford. The investment in Ford has been increased by nearly 50 per cent as at 31 December of the Soros fund owned 10.9 million shares of the company. For comparison, at the end of September was the position of 7,3 million shares. Capital of AT & T does have acquired 500 thousand new shares and thus the share of Soros Fund Management has reached 4,7 million shares.
(more…)

Every fourth British family spent more than 10 percent of its budget for electricity and gas. Many in the country are facing a dilemma: food or heating. London seems powerless to deal with so-called “energy poverty”. Problem this is dedicated to the analysis of radio Deutsche Welle. Labor had promised that by 2016 there will be a British family, which falls into insolvency because their bills for electricity and gas. Situation of pensioners, the sick, children and families with low incomes would even be improved substantially this year. “Useless” – critics say, but Energy Minister David Kidney defend his position: “In the beginning we could save 4 million households from fuel poverty. But the explosion of prices in the past 6 years our plans fail, the minister is justified.
When you become a luxury heating
The government intends to strengthen the role of supervisory authority to control prices. Private energy suppliers will be forced to tariff transparency. Provided that they should be required of any reductions in wholesale extend to end users of energy.
(more…)

The sentiment in the oil market last night were determined mainly by the news that came from Asia. They led to a strengthening of sales and pessimism about the black gold. Major concern was the news that the economic growth of South Korea has slowed down during the last quarter of last year. This is due to problems with exports shrinking demand and reducing government spending. This derail investors and led to a decline of oil prices retreat from 1,3 per cent on yesterday’s closing price on the stock exchange in New York to 74.32 dollars per barrel. It was also deleted all achieved during Monday trade grew by around 1 per cent to 75.26 dollars per barrel. Contribute to negative attitudes and the retreat of the leading stock indexes in Asia. Despite yesterday’s finale of green marketing in the U.S., which brought about the increased minimum measures of U.S. stock market again today, the red color predominates in the Asian region. As a result, the indexes marked the seventh consecutive decline, which had not happened for the past two years, transmit Bloomberg.
(more…)

The British shares closed the last trading session of the year with slight increases. The main FTSE 100 index rose during the shorter trading today to 0.28 percent level of 5413 points. This level is 22.1 percent higher than the beginning of the year and represents the best AMENDMENT year for the past 12 years. However, the indicator is a decrease of 21.9 percent for the decade. Climate for the past ten years in the German DAX was decreased by 14%. Germany’s market was closed on December 31. For the last year the main German index rose by 24%. Over 20% annual growth record and the French CAC 40. Presentation on European markets this year was affected by slow and gradual recovery of world economy and to stabilize the financial sector. Before world markets still remain many unknowns and concerns about future development, although at the end of the year, investors are generally more optimistic set. Specifically on trade on Thursday was taken few positive economic data announced, among which a distinction that the British housing market. Data from the Nationwide mortgage company average housing prices in the country grew by 0.4 percent in December compared to November, while the increase for 2009 is estimated at 5.9 percent.
(more…)

Over 134 million Americans planned to enter the market or buy from the Internet during this long weekend that begins with days to Thanksgiving, which is today and will reach its peak tomorrow in the so-called Black Friday. Last Friday of November has no official status of the holiday, but many employers allow their employees to not come to work that day. Most shops open at 5 am, and some even earlier, and already have a full Christmas decorations and the doors of their rank the most eager buyers to take advantage of huge discounts. Aforementioned numbers exceed that of last year, but far less than the stated expectations before Black Friday of 2007 writes Reuters. Only a few months, the attitude of the retailers had been so optimistic. Recent studies show that though the desire to please his family led the Americans to open their wallets wider, since in recent months, residents of the United States were significantly diminished costs. More than one-third of the citizens surveyed by Deloitte said they expect to spend more money in the last days of the year, and 86% of them declare that they will raise the cost of gifts.
(more…)

Tumult on stock markets in Asia and improving conditions for doing business in the region virtually doubled the number of billionaires in India, reported Reuters correspondent agency in Mumbai, referring to the list of magazine Forbes. In terms of growth in the stock market by 75 percent this year and GDP growth of 7 percent Indian billionaires from 27 in 2008 are already in this 52th. Leader in the leaves is the majority owner of the largest private company Reliance Industries Company Mukesh Ambani. His condition is calculated on $ 32 billion, second in the ranking is Lakshmi Mittal with $ 30 billion in three falls and honorary brother Mukesh – Anil Ambani, whose fortune is estimated at $ 17.5 billion. “Happy time for rich Indians with Evert,” said the editor of the Asian edition of Forbes Nazhin Caramel. According to him in 2009 showed that in terms of good financial markets and the rapidly developing Indian economy, the number of billionaires is growing significantly faster than in other countries with the same or even better conditions.
(more…)

Professor Eugene Fama create efficient markets hypothesis even at the end of 60-years of 20 century, which found many supporters and critics. According to his statement the price of the traded assets at any given time reflect all available information to which investors have access. According to the hypothesis is not possible to exceed the market return with the information that is already known, except by luck. This hypothesis requires that participants have rational expectations and the group as a whole to react properly when new information. There are three forms of efficient market hypothesis:
1. Weak form – asserts that all past price movements and information are reflected in these figures. In other words, technical analysis is useless.
2. Half Strong form – maintains that all publicly available information is fully reflected in prices. In other words, fundamental analysis is useless.
3. Strong form – states that absolutely all the information is reflected in the price. In other words, even insider information is useless.
Of course, when there is a new fact some investors may submit its more important, others less. Investor reactions are random, having equal distribution, the net result on the market price can not be used to make super-profits (especially taking into account transaction costs). So, even individuals to market are wrong, really anyone can, but the overall market is always right. Of course there are many criticisms of the theory. Firstly, the assertion that investors perceive all available information in the same way.
(more…)

The Deforestation in Amazon should be reduced by half to reach the level of 20 years ago, the authors recommend a study of the Brazilian Institute for Space Research (INPE). Processed satellite images for the entire 2008 show that forests are felled in an area of 12.911 thousand square kilometers. Preliminary data for 2009 show that this year would fall to destruction 7 thousand sq. km. Scientists say the reduction of forested areas in Amazon River in 2008 equals 20 years of logging, since the region is seen from space. Scientists state that more than half of the Amazonian forest (68%) are privately owned, but the felling is illegal. Deforestation in Brazil and especially in the Amazon jungle and measures for their protection is one of the painful issues of both domestic and foreign policy. According to government sources, deforestation in Amazonia could cost loss of $ 1 trillion. Show the forecast data of the United Nations Environment (UNEP). Because of deforestation increased evaporation, not only in Brazil but also its neighboring countries in South America, which already threatens the agricultural sector in the region. INPE data show that the Amazon basin daily evaporate 20 billion tons of water.
(more…)

The Bankruptcy in practice banks and financial institutions and consumer debt will be a strong brake to the U.S. economic recovery. That said billionaire and founder of the foundation Open Society Institute George Soros. The Economic recovery will be very slow, “said renowned investor who participated in the meeting of the International Monetary Fund and World Bank in Istanbul. Banks in the U.S. quasi lost 1.1 trillion. dollars since the financial crisis began in late 2007. Soros’ expectations are that Europe will achieve faster economic growth, which opinion differs with that of the IMF. Last week, the fund said growth in the U.S. will be 1.5 percent for 2010 while the euro area – five times less. Severe recession even more easily pass through Europe, the ECB can be more quickly completed with the policy of stimulating than the Fed added the economist, even as the U.S. is too early to speak.
(more…)