The Shares of the largest Japanese carrier, – Japan Airlines, fell sharply by 11% during today’s trading session to reach its lowest price level in historical perspective of ¥ 85 per share, cited by BBC. Reason for this became publications that losing company may be forced to declare bankruptcy because of its debt by $ 16 billion. From the press has become clear that the Fund Enterprise Turnaround Initiative Corporation, which is responsible for saving the airline is considering bankruptcy as part of its restructuring plan. From Japan Airlines, however, deny this possibility, reported that the decision of the fund secured by the state will become clear in January next year. The Japanese government is saved Japan Airlines four times since 2001. Last week Finance Minister Hirohisa Fuji in Japan said that the state will not issue more loans to the airline. In that year Japan Airlines receives offers for the purchased part of its capital by competing companies American Airlines and Delta, as the eventual fall into bankruptcy will make a deal more complex.
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Action to freeze Venezuela’s trade with Colombia will reduce economic growth in Colombia next year, said Colombian Finance Minister Oscar Ivan Zuluaga. Exports to Colombia to Venezuela could be halved next year to $ 2 billion, predicts Zuluaga. Exporters seek to diversify their markets, they exported more goods to Mexico, Peru, Central America and the Caribbean, he added. In July, Venezuelan President Hugo Chavez called for an end to imports from Colombia because of the agreement by the country with the United States to ensure access of U.S. forces to seven Colombian military bases. Exports to Venezuela, which represents about 15 percent of Colombia’s total exports, decreased by 70 percent in October on an annual basis. According to Zuluaga effect on the Colombian economy will depend on how far will deepen the contraction in GDP of Venezuela.
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The price of crude oil remains near the level of 79 dollars a barrel during electronic trading today in Asia in anticipation of the latest data for this year the Ministry of Energy in the United States. Economists expect that stocks of crude oil, the largest economy in the world fell for the fourth consecutive week in the seven days to December 23rd. Estimates are for a decrease in U.S. oil reserves of 1,85 million barrels once during the previous week, they fell more than expected by 4,9 million barrels. U.S. light crude for delivery in February, slightly more expensive by 0.3 percent to 79.08 dollars per barrel in today’s times of electronic trading on the New York oil exchange. Crude Oil futures ended Tuesday’s session in a price increase of 10 cents to 78.87 dollars per barrel. This is their highest price level since mid-November date. For the past five trading sessions oil has risen by nearly 9 percent, and the beginning of this year the price of energy raw materials has risen by 77 per cent. Within the past decade it has increased threefold, according to Bloomberg. Appreciation of the dollar in December, however, act as a brake on growth in the oil price.
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The Union organization in the automobile manufacturer Opel rejected the restructuring plan submitted by parent company General Motors (GM). This confirmed the president works council Klaus Franz to Germany daily Frankfurter Rundschau. “The loss of nearly 9 thousand jobs in Europe is unacceptable,” says Francis told the newspaper. Negotiations on the future of Opel and its British Vauxhall marks are expected to be renewed in the second week of January. Since GM had said he wanted to cut about 8300 employees of 50-thousand in Europe, but the distribution of cuts in different plants remains unclear. Such job losses are “economic fatuity” according to Franz, who believes that by 2013 around 10 500 positions either way will be closed in the Opel and Vauxhall for the exit of workers into retirement. Klaus Franz also calls for greater independence, the Opel within the group of GM and a free connection with the company’s global market. Opel became the protagonist of the saga continued this year. Several companies want to become owner of the manufacturer after General Motors announced that it sells.
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Court administrator of failed banking giant Lehman Brothers – PricewaterhouseCoopers (PwC), has reached agreement on a plan to be repaid 11 billion dollars of former investors in Lehman, Air Force forward. By PwC have announced that over 90 percent of the investors whose assets are still frozen in Lehman, have agreed to the deal. PricewaterhouseCoopers responsible for closing operations of Lehman Brothers in Europe. In its bankruptcy in September last year the bank has taken the assets of clients for 32 billion dollars. Since then, 13.3 billion dollars have been returned to investors who are mainly large hedge funds and investment companies.
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The Companies listed in the London Stock Exchange (LSE), have gathered a record 82.5 billion pounds (nearly 91.7 billion) from investors in 2009, Air Force forward. By LSE indicate that despite ongoing concerns about the economy investors have benefited from the proposed shares. Total accumulated amount is 16 percent higher than in 2008, but the increase is mostly due to emission rights by the banks. In November, Lloyds Banking Group gained 13.5 billion pounds in the biggest rights issue in the world. The main market, which includes companies from the FTSE 100 index, were recruited over 50 billion pounds of emissions rights. In March, HSBC gained 12.5 billion pounds from its shareholders to avoid taking money from the government. Major programs to raise capital in place and Rio Tinto (7,3 billion pounds) and the company for construction of housing Barratt Developments (over 545 million pounds).
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The investors are imported 11.1 billion in U.S. mutual funds in the week that ended on 23 December. This is the largest inflow for the past 79 weeks show data analyst firm EPFR Global. At the same time withdraw funds from cash funds slows gasket during the last week, it is clear from the data. Large funds remain profitable investments in emerging markets who are about to celebrate a record inflow. Funds for investment in shares and investment in these bonds, which are monitored by EPFR, are respectively 13.3 and attracted $ 4 billion last week. Most funds were directed to funds for investment in shares in the U.S. However, since the beginning of the year from funds investing in shares of the U.S. market have withdrawn 69 billion dollars.
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The Announced commitments for bad credit card in the U.S. grew in November. This happened after two consecutive months of decline in credit card write-offs. However, it is encouraging that the delinquency rate liabilities decreased again. Credit card write-offs increased by half a percentage point to 10.56 percent in November, data showed on Moody’s. Expectations are that exits next year will increase to 12-13 per cent in the middle of next year, transmit CNBC. Delays, which measure the share of obligations in which payments are overdue by more than 30 days, increasing to 6.2 percent, while the shorter delays fall to 1,6 per cent in the month, data showed. The rate of repayment of debt, which measures the average amount of principal that borrowers pay each month, falling by 0.89 percentage points to 16.42 percent.
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The prices of light crude oil rose for the first time in five days after it fell below $ 75 a barrel for the first time since October 13. This raw material prices made attractive as an alternative investment, said Bloomberg. Today’s move offers a wide range between $ 75 and $ 81 per barrel. “For some time the markets began to get used to the volatility of prices between $ 75 and $ 80 a barrel, but when a quote is closer to the lower limit, the players react immediately, buy items and the price returns to higher levels,” commented the market situation David Moore, commodity markets analyst at Commonwealth Bank of Australia. Lightest crude oil for delivery in January rose by 46 cents, or 0.6 percent, reaching $ 74.39 a barrel in electronic trading on the New York Mercantile Exchange. Yesterday marked the raw material to its lowest level since $ 73.93 a barrel, having dropped very quickly with $ 1.54, or 2% per cent, compared to the price at which stock exchanges closed at the end of last week. One of the reasons oil is cheaper to the statement of the President of the U.S. Federal Reserve Ben Bernanke, who said that the U.S. economy will have problems in three directions – the labor market, tight arrangements for lending and the availability of huge quantities of stocks of fuel in reduced demand.
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The U.S. stock indexes continued to be traded in the Range beginning of a new week, shares of the telecommunications sector supported the market. However, the rise in shares was limited by the possibility the Fed to raise base rate earlier than expected. The strong dollar in recent days has affected negatively on the prices of some companies. Verizon Communications was one of the best performing companies in the Dow Jones, having risen by 2.42 percent to 33.49 dollars. Sprint Nextel Corp. add 5 percent to 3.88 dollars after the third largest provider of wireless internet will most likely increased by 50 percent its offer for Virgin Mobile USA Inc. This is a consequence of constantly increasing number of prepaid services offered by the company. Comcast, the largest U.S. cable television, rising by 4.7 percent to 16.89 dollars after Barron’s said that the company is profitable to purchase. Companies offering credit cards, rose after Bank of America Corp. increase their ratings, as announced that they will most likely realize significant revenue from the economic recovery. American Express rose by 1.3 percent to 39.79 dollars, while Capital One Financial add 0.9 percent to 38.25 dollars. Advanced Micro Devices Inc. is shot with 7.8 percent at 8.48 dollars, while Nvidia Corp. also recorded high growth, rising by 13% to 16.12 dollars.
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