Most of America States decreased unemployment in April compared to March, according to government figures published today. In 34 states and the Federal District of Columbia, which is located Washington, DC, the unemployment rate decreased from the previous month. Only six state unemployment rises, but 10 others remained unchanged according to Ministry of Labour of the USA. In the March 24 state reported an increase in unemployment compared to February, reports CNBC. Overall the country, unemployment has risen to 9.9 percent in April from 9.7 percent in March, although employers in April showed 290 thousand new jobs – the highest rate of four years. The highest unemployment rate in Michigan (14%), followed by Nevada (13.7 percent), California (12.6 percent) and Rhode Island (12.5 percent). Lowest it is in North Dakota (3.8 percent), South Dakota (4.7 percent) and Nebraska (5%). The decreasing of the unemployment rate is good sign for recovering of the economy and business.
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The soft drinks manufacturer PepsiCo plans to invest 2.5 billion dollars in China over the next three years. The money will be invested in new factories in the country in research and promotional campaigns, reported AFP. These funds are added to the already announced $ 1 billion investment company, which announced in 2008 and are planned to be invested by the end of this year. Speaking of the leadership of the group shows that Pepsi’s investment program reflects confidence in this important, growing market. Manufacturer’s plans include the construction of between 10 and 12 new plants in China, which currently has 27 factories of Pepsi. There are plans to expand the portfolio of products tailored for the local market. Last year the competitive Coca-Cola also announced big plans in China, the company plans to invest $ 2 billion there for three years. The investment is quite big for the company, which recovered from hard drop in sales for the months of financial crisis. This investment should recover the placement in the largest country of the world and is basically required by the high consumption of the soft drinks in Asia.
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The Government aid to rescue American International Group (AIG) could cost taxpayers 2.9 billion to less than ever envisaged after the company’s prospects have improved, announced today Ministry of Finance of the USA. According to the ministry, the estimated costs of AIG fell slightly due to its increased financial stability, “reported Bloomberg. Saving the company is expected to cost the Ministry of 45.2 billion dollars database by the end of March, compared with 48.1 billion projected last November. The rescue plan for New York-based insurer had a total value of 182.3 billion dollars and comprised 69.8 billion from the Treasury, a credit line worth 60 billion from the Federal Reserve and purchase of mortgage assets owned or guaranteed by AIG to amount to 52.5 billion. Last month, the CEO of AIG Robert Benmoshe said the company is on track to repay any aid granted after reaching agreements to sell two of its subsidiaries for about 51.5 billion dollars, which is expected by the end of year. In March did it was announced that this year will receive Benmoshe wage of $ 7 million. AIG reported a profit of 1.45 billion dollars for the first quarter of 2010, and its subsidiaries for consumer finance and leasing of aircraft again given access to credit markets. In today’s trading AIG shares rose 4.9 percent as of the beginning of the year increased by 22%. Last year they lost 4.5 percent after having collapsed in 2008 with 97 percent – the year that AIG had to be saved.
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The stock market indexes in Asia and the Pacific region remained negative territory for the fifth session today because of concerns about Debt Crisis in Europe and the imposition of additional restrictions in Germany on securities trading in financial markets. The regional MSCI Asia Pacific Index fell 1.8 percent to 112.69 points and is on track to finish the session at its lowest level since the beginning of September 2009, according to Bloomberg. Regional stock measure goes down rapidly in the last month, having completed all sessions of decline since the beginning of May, not two. Regional economic data today showed that Japan’s economy has surged for the fourth consecutive quarter, which, however, was weaker than expected amount of 1.2% quarterly and 4.9% of equated to annual basis. Meanwhile, Singapore has announced record growth of 38.6 percent on an annual basis aligned to the base. Nevertheless, the exchange in Tokyo the Nikkei 225 fell by 1,5% to 10 030.31 points and the Singapore Straits Times index major retreat by 0,4% to 2 763.89 points. Most among national indexes in the region, however, lower South Korean Kospi, which lost 1.8 percent to 1600 points. This gave rise to the news that South Korea has accused its northern communist neighbor that has sunk its warship in March with a torpedo.
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The decision of the authorities in Germany to limit speculation in certain financial instruments by banning the trade of short “with them cause strong movements in financial and currency markets in recent hours. As a result, the euro sank again, gold and oil retreated positions. By decision of regulatory authorities in Germany were banned short sales of shares of the ten leading banks in the country, government bonds and related swaps for protection against non-performing debt for the period ending March 31st, 2011. This decision was taken to the disapproval of the markets because it is alone and does not comply with Germany’s partners in the European Union. According to some estimates, such a unilateral act could have a more negative effect than is likely to calm the situation. Some experts indicate that action as a sign of desperation and a signal of major weakness in Germany, transmits Reuters. The explanation of the regulators in a country that action be taken “because of unusual volatility in the price of government bonds in the euro area. After Germany, similar measures can be introduced, and Austria, which, however, said it would seek discussions at EU level. “We intend to put this issue on the agenda of the meeting of finance ministers on Friday, the goal is a ban on short selling in the EU”, said yesterday the representative of the Austrian Finance Ministry for FT.
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The turbulence in the euro area is not over, as Greece remained only “the tip of the iceberg,” warned the professor of economics at New York University Nuriel Rubini. “This front is currently facing the euro area is the second stage of a typical financial crisis,” said Rubies to radio BBC. Approved a rescue package amounting to 750 billion, intended to stop the spread of the crisis in Greece to other EU countries do not calm the markets, as questions remain whether governments are strong enough to make the necessary rigor, stated Rubini. Earlier today it became clear that it is paid the first tranche of EUR 20 billion of aid to Greece. Tomorrow ends the maturity of the Greek bonds 8.5 billion. Markets remain worried about the solvency of some European countries in the euro area as there are significant economic and financial problems, stresses Rubini. Protests in Greece against budget cuts fueling suspicions that European governments can solve such problems, he said.
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The price of crude oil has taken up during today’s e-commerce in Asia and losing his series broke the previous five sessions. Energy input has made its lowest price level since the beginning of the year yesterday, and fell below $ 70 a barrel, which tempted some market participants. The price of U.S. light crude rose by 0.8 percent to 70.64 dollars a barrel during electronic trading today after the session ended yesterday with a fall of 1.53 dollars to 70.08 dollars per barrel, which is lower price level for the past five months, announced Bloomberg. Feedstock for energy fell slightly to 69.27 dollars a barrel yesterday because of the strong appreciation of the dollar caused by lower risk appetite of investors. U.S. currency rose to 1.2335 dollars per euro, noting its highest level against the euro over the past four years. Brent with delivery in July, meanwhile, a more expensive one percent to 75.85 dollars a barrel in today’s electron hours trading on the London Petroleum Exchange. Oil futures dropped by 2.83 dollars or 3.6 percent, to finish yesterday’s session at a level of 75.10 dollars a barrel.
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The main stock indexes in the U.S. began to decline for the first trading week, continuing losses from the previous two sessions. Literally in the last minutes before the close of the market, however, shares began to recover and could be out of positive territory, although a few hours earlier had achieved reductions of around 2%. In bearish sentiment on the day stood back to Greece worries and debt problems in other European countries. Negative forecast disclosed in the chain stores for household goods Lowe’s Cos., Also outweigh the market. “The market and its players do not believe that the plan for Europe associated with the suspension of high costs and reducing debt will work without first have a significant impact on the economy,” Kevin told MarketWatch Gidis brokerage company of Morgan Keegan. For registered gains against the backdrop of these concerns helped technology stocks and those in the field of trade. Dow Jones Industrial Average rose 0.06 percent to 10,267 points, the broad S & P 500 recorded a growth of 0.1 percent to 1137 points, and Nasdaq Composite increased in value by 0.3 percent to 2354 points. Chain Lowe’s Cos., Which is second largest sector in the U.S., announced yoy growth of 2.7 percent in profit to 489 million dollars for the first fiscal quarter ending in late April. The result was higher than average forecasts of analysts, but they remained disappointed by the export outlook for the current quarter.
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The European governments, which have recently been placed under intense pressure from Brussels to reduce national commitments have, in turn, the very European Commission (EC) to restrict their spending. It turns out that the Commission now considers not only to use the savings, but even increased their administrative costs for next year, according to the draft prepared for 2011 these costs increased by 4.5 per cent compared to 2010. Discussion of a draft will begin on Tuesday by finance ministers in Europe, the debate appears to be heavy, said AFP. “We agree to spend better, but not to spend more, told the agency unnamed European diplomat. “However, the European Commission is one that asks all States to make efforts to reduce budget deficits, it should do the same in their own finances,” he added. “You can not proceed as if no economic crisis.” Another condition of anonymity, a diplomat said eagerly waiting to learn why it is necessary budget committee to increase, provided that calls made to the Member States economies.
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The growth of industrial production in Russia for the period January to April reached 6.9% yoy, Russian media reported on data from the Rosstat (Russian Statistical Service). Only in April from a year earlier growth in industry was 10.4 percent. On the other hand, for April to March, a drop in industrial production by 3,4%. The growth of industrial production in Russia for the first quarter amounted to 5.8% yoy in March but the figure was 5.7 percent. Gross Domestic Product (GDP) of Russia for the first quarter rose 4.5 percent on an annual basis. Among the leaders in growth industries is now the extraction of natural gas for April from a year earlier marks an increase of 27.5%. Significantly increased annually and the production of meat, fabrics, bags, plastics, furniture and some others. But gold production, metallurgy, machinery, trolley, sunflower oil, fell sharply. The financial crisis in Russia was less felt than ever and the Russian government did not got strong restrictions in the public expenses as the other countries.
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