The American automobile giant General Motors will withdraw 1 300 000 cars from USA, Canada and Mexico because of problems with servo-motors in the steering. The company assures that vehicles are safe and the problem can lead to loss of control. However, the rotation of the wheel can be difficult at speeds below 24 kilometers per hour. Are affected by the defect models “Cobalt” to “Chevy” and several models of Pontiac. Toyota ( “Toyota”) even found a new problem and will replace the hoses free of oil 933 800 cars in the United States. The problem affects models “CIDA”, “Avalon” “Rav 4, as models of” Lexus “. The spokesman for Toyota Brian Lyons stressed that the problem with the hose does not affect the safety of driver and passengers do not have to download more cars in use. Recalled in recent months, Toyota, which is the largest automaker in the world, was forced to recall over 8.5 million cars worldwide because of various problems with security. Ten days before the problems of Toyota, relating to withdrawal of a significant number of cars from the U.S. and global market have deepened after it became clear that against the vehicle manufacturer may be raised and criminal charges. Nearly 8.5 million cars from the best selling Toyota models have proved a problem associated with the wedge of the throttle caused by poorly fitted pads. For this purpose, the company called all these cars in their garages.
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Singapore’s economy has slowed significantly decreased during the last quarter of last year, which makes the government to raise its forecast for growth this year. New expectations are that the country will emerge from the crisis with growth within 4,5-6,5 percent. This is 1,5 percentage points higher than previous expectations, writes Market Watch. In the last quarter of 2009 Singapore’s economy has contracted by less than expected and the economic downturn amounts of 2,8 percent on a quarterly basis, aligned on an annual basis. The official forecasts were for a far more gloomy data and contraction of the economy with targets of 6.8 percent. Best at the end of last year has provided the service sector, led by tourism, has reported growth from 6,6 per cent. At the same time the manufacturing sector has shrunk by 29 percent.
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This week last trading session brought decreases in most major indexes in Asia and the Pacific region, after the Federal Reserve unexpectedly raised interest rates on loans which commercial banks in the United States. Investors took this as a harbinger of the early withdrawal of excess liquidity from the economy, which can reduce the investment in financial assets, real estate and commodities. The regional index MSCI Asia Pacific, which monitors stock markets in ten Asian countries, Australia and New Zealand, slid 2.2 percent to 115.24 points. Most suffered from bank auctions and extractive companies. Dollar hits top ten months of 1.3444 dollars per euro and oil prices went down for the first time in four days and decreased by 1.1 percent to 78.20 dollars per barrel. On the main exchange in Singapore Straits Times index was down by 0.4% at 2 757.14 points, although the government increased its forecast for economic growth this year. New expectations are that the country will emerge from the crisis with a growth rate of gross domestic product of 4,5-6,5% in 2010 as Singapore’s economy contracted by 2.8 percent in the fourth quarter of 2009. The major index in Hong Kong - Hang Seng, slipped 2.6 percent to targets 19 894.02 points and the index of blue chip Nikkei 225 in Japan decreased by 2.1% to 10 123.58 points. Shares of the largest car-maker in the world - Japan’s Toyota, fell by 1.8 percent on the Tokyo Stock Exchange after it became clear that the company president Akio Toyoda will testify before the U.S. Congress for the program to retrieve cars defect in the accelerator.
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Financial companies have been able to derive indexes in Asia and the Pacific region of positive territory today and yesterday offset part of their reductions. Extractive companies also ranked among the most profitable thanks to the strong financial results for the fourth quarter of 2009, major industry representatives, police Bloomberg. Stock exchanges in China, Hong Kong, Taiwan, Singapore, Malaysia remained closed for a second day today due to celebrate the lunar New Year. The regional MSCI Asia Pacific Index rose by 0.5 percent to 116.39 points, such as financial companies in its composition have contributed most to this increase. Stock measure, which monitors the securities markets in ten Asian countries plus Australia and New Zealand reached 17-month peak on 15 January, then slid more than 8 percent over the next four weeks. Reason for this were expectations that the central banks of China, India and the U.S. will begin to tighten its monetary policy soon, which could reduce investment in financial assets. On a stock exchange quotation muzzy and worries that Greece, Portugal and Spain will be able to cope with their large budget deficits. The index of blue chips in Australia S & P / ASX 200 is increased by 0.5 percent to 4 567.8 points, while New Zealand NZX 50 jumped 0.9 percent to 3 087.61 points. Today it became clear that the index of business confidence in Australia fell by half to 8 percentage points in January. Assessment of local companies in the business environment deteriorates, but remains positive for the eighth consecutive month.
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The U.S. president Barack Obama has announced that the government will guarantee loans for 8.3 billion dollars. With these funds should be built first new nuclear reactors in the country for the past thirty years. According to the plans have the money to build two reactors in Georgia, as if everything goes according to plan, they should start operating in 2016 and 2017. Thanks to them with electricity will be supplied 1,4 million people, transmit USA Today. Industry expectations are that the state will direct more money into the sector. The budget for the energy ministry in 2011 had already pledged $ 18 billion to be invested in nuclear power. Obama himself, however, insists the money should be tripled to 54.5 billion dollars. This will be funded the construction of six to ten reactors. Obama’s position is that because of nuclear energy is limited release of greenhouse gases in the atmosphere and therefore it is necessary to work towards the creation of new reactors. This according to him is the only way to achieve the objectives related to climate change. This makes the industry representatives to prepare for a renaissance of nuclear energy and considerable investment. Creation of new nuclear plants in the United States was suspended in 1979 after an accident in a reactor at the plant Three Mile Island. Other leading countries also emphasize the nuclear energy. Among the most prominent examples are China, Japan and France.
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Significant increases U.S. registered shares during the session on Tuesday, after trading had on Monday to celebrate the Day of the president. Underlying growth stood securities in the financial sector and those from the energy industry. Helped to increase data and strong manufacturing sector and the housing market in the country. According to a survey of the Federal Reserve in New York manufacturing sector conditions have improved dramatically in February, as the sectoral index for New York has risen to 24.91 from 15.92 points in January. Expectations of economists was for a value of only 16 points. The National Association of Builders of homes even announced that the organization’s monthly index of confidence in the sector recovered in February from 7-month bottom. However, the indicator remains at very low levels, reflecting the concerns of developers. Of all the 30 items included in the Dow Jones Industrial Average, only two ended the session with decreases - Kraft Foods and Pfizer. Depreciation in fact became the first company, although its profit tripled the last quarter of 2009, this growth was clearly weaker than market expectations. Reason for the decline in Pfizer became part of the rejection of its patent on the drug Viagra, because the company will not get a satisfactory result of the complaint to be disturbed patent competitive group against Eli Lilly & Co. and its similar pharmacies.
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Demand for U.S. government securities (GS) was noted by foreign record decline in December, official statistics show the Treasury of the United States. Only by China’s investment in government bonds fell by 34.2 billion dollars. If the low interest and withdrawal of foreigners from the U.S. government debt is thorough, it is likely the U.S. will be forced to pay higher interest on their bonds. Attract investors in this way, however, would create serious problems for the already record-high deficit of the country forward CNBC. In December, the position of foreigners in U.S. government bonds have dropped by 53 billion dollars. This is the largest outflow in the history of statistics, it is larger than the decrease by 44.5 billion recorded in April last year. Despite everything, however, this decline is quite symbolic in the context of the overall size of the external debt of the United States. Obstruction of items from China means that Japan is again the number one holder of U.S. government bonds. Country of the rising sun is also sold bonds in December, it has reduced its position with 11.5 billion dollars to 768.8 billion dollars. China does have U.S. government bonds for 755.4 billion dollars. In 2009 for all reported cases of contraction of foreigners in U.S. government debt of 500 million dollars. In the previous year, however, foreign governments and investors increased their positions in U.S. government bonds by 456 billion dollars purposes.
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The Quotes of the Asian oil trading slightly increased mainly because of the good statistical indicators for the Japanese economy, which for the third quarter recorded a growth front. This is a good signal to investors that there will be a steady demand for energy in Asia and even in the event that China continued to tighten the monetary and credit policy. Futures for delivery in March jumped with some $ 74 a barrel Friday after the quotations have fallen, as the People’s Bank again increased by another 50 percentage points in reserve requirements of banks. Quotes of the March futures on U.S. crude rose by 1 cent, to $ 74.14 a barrel. While the April futures for variety “Brent is increased by 4 cents to $ 72.94 a barrel. “By watching the prices can not expect any sharp rise or fall sharply. China, Japan, Korea, Taiwan and other Asian economies this year will continue to grow.
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European Union (EU) extended by one year imposed restrictive measures against Zimbabwe due to lack of progress towards a political agreement on sharing power in the country, announced the official journal of the Community. However, the published official document states that “some individuals and organizations, who were affected by the” restrictive measures “are no longer included in the updated EU list. Six people were taken out (of whom three have died - former Director of Defense personnel, former Vice President Joseph Msika and former Secretary of Economic Affairs Richard Hove) and nine companies. Among the stockholders of the “black list” are the former head of the mining company, a former police chief and others. directly involved, according to the EU in the process, violating human rights, and more specifically - in the violence in the country in 2007. New restrictive measures against all other names of individuals and entities remain in effect until February 20, 2011. Zimbabwe to impose political and economic constraints of the EU since 2002. Reason is the continuing violation of human rights, basic rights and freedoms of the authoritarian regime of President Mugabe.
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The tax haven is no longer what it was years ago. The reason for this is of course the financial crisis, which led to pressure for removal of such regimes and disclosure of personal data and account transfers. Because of that, and because of financial problems because of the rich stock downturns and adverse conditions in credit markets over the past two years in Europe with the destination system of tax havens have been downloaded 500 billion dollars. This is nearly a quarter of all money held in those countries of the Old Continent, according to estimates amounted to 2,1 trillion. dollars, transmits Market Watch. Money in bank accounts in Switzerland and the Channel Islands (also known as the Channel Islands) were significantly reduced, but most were affected Liechtenstein and San Marino. Much of this has merit the remission of taxes and fines, which is practiced in some countries because of the crisis. For example in Italy in April so far returned $ 100 billion, which previously were located in countries with tax haven status. The most severely affected by this is Switzerland, where Italians have traditionally kept to saving money on taxes. Some of the largest banks in the country still managed to keep the money for themselves through their divisions the Apennines.
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