A little more than a week the German government proposed “Budget Commissioner” of the euro area to exercise direct control over the budget of Greece. With this proposal, Berlin, Athens asked to give up its sovereignty in the name of financial assistance, to prevent the bankruptcy of our southern neighbor. Although the European Commission (EC) rejected the proposal, it is not sunk into oblivion. Greece can not settle with its creditors, which leads to two outcomes for the country: either declare bankruptcy or to continue negotiations with the private sector, the European Union (EU) and International Monetary Fund (IMF), says the CEO of American company Stratfor Strategic Analysis and reputed political scientist George Friedman. In his agreement with its creditors Greece will consist of three parts: the forgiveness of the debt, additional financial assistance from the EU and IMF agreement to limit government spending and raise taxes so as to avoid future sovereign crises or at least to be paid to the Greek debt. The Germans certainly do not believe the Greeks, as the latter have not met already made commitments to creditors. That lack of confidence led to the proposal for budget control, but it would be okay, if it is a corporation or a private person, says Friedman. Such a request from a nation state, however, is unacceptable according to the analyst. State is based on two premises. The first is that the nation state is unique legitimate community whose members share a common range of values ​​and interests. The second condition is related to the occurrence of the state. Friedman points out that this happens in people’s will and only has the right to determine state action.
Read the full story

Shortly after the U.S. coffee chain Starbucks reported record results for the first quarter of the current financial year, it became clear that the company intends to enter India. The chain will open its first facility in India in August. Entering the local market will be in partnership with the manufacturer of tea and soft drinks Tata Global Beverages, part of conglomerate Tata Group. By the end of the year the company expects to have 50 new branches throughout the country. Although Indians are known as a connoisseur of tea, the taste of coffee is more beloved. “We are witnessing an evolution in the style of life in India. More and more Indians try to fit in your standard of living and lifestyle of international standards, “says the opinion of the joint venture. The entry of Starbucks in India will continue expanding the company’s Asian and Pacific markets, which currently generate more revenue for the company compared to U.S. business. For the first decade of the century coffee consumption in India has almost doubled to 108 thousand tons, and last year in India, there were 1,600 coffee shops. President of Starbucks to China, Asia Pacific, John Culver expects growth of 30% for 2012.
Read the full story

The business climate in Germany is estimated to be extremely good and beneficial to the local companies in the industry and commerce in March. This monthly survey of the Munich research institute Ifo, confirmed that the upswing in the German economy continue. The results of this is that the German companies assess conditions for doing business in the country is still as extremely favorable. This indicates the Ifo index of business climate in Germany, which decreased to 111.1 points, but remains near its record high value of 111.3 points recorded in February. A fall in the Ifo index in March was due entirely to the expectations of companies’ business environment over the next six months worsened slightly. The index rose significantly last year, when the German economy achieved record for the past 20 years growth rates of 3.5 percent and went up over the past nine months. The economists expected the index to drop more then 110.6 points in March. He is among the most important benchmarks for prospects before the German economy, which generates about 19% of the GDP of the EU. Ifo institute indicated that a slight worsening expectations of German companies this month due to severe earthquake in Japan on 11 March and disaster in Fukushima.
Read the full story

The U.S. President Barack Obama continued for one year trade embargo against Cuba. President underlines that punitive measures “comply with the national interests of the United States. Thus, sanctions remain in force until September 14, 2011. Trade embargo in 1962 and aimed to overthrow the communist government of the island, prohibits links to U.S. companies in Cuba. The only exception is allowed for trade in agricultural products and some medicines. The unofficial position of Cuba is that the embargo restricts access to so many products that compels people to resort to piracy, says Reuters. Several weeks after the premiere of the comedy “Murderers” in the U.S., the film can now be seen in the cinemas of communist Cuba about 9 U.S. cents. Strip adventures of Ashton Kutcher as a CIA assassin and is available on DVD. The problem is that the film will be officially released on DVD on September 7 in the U.S. and even then, because the U.S. embargo against Cuba, it can spread to the island. The years of embargo against Cuba cost the American business and countless missed opportunities at the same time the island became a haven for pirated goods. Although the embargo prohibits U.S. companies such as Microsoft’s software export to Cuba, the island’s most computers have installed unlicensed versions of the operating system.
Read the full story

U.S. intends to pressed their economic partners of G20 is not rash with plans to tighten fiscal policy, while recovery in the global economy still looks uncertain, says the Wall Street Journal. U.S. President Barack Obama expressed concern that the context of fragile global economic recovery may again fall into a recession if government incentives are withdrawn too quickly, as happened during the administration of President Herbert Hoover in the 30 years past century, soon after the start of the Great Depression. Obama will call on leaders of the G20, which will meet in Toronto this weekend to extend their programs to stimulate the economy and thereby promote economic growth. Meanwhile, governments worldwide adopted measures to cut spending and tightening fiscal discipline. Especially wary European leaders have proved over the situation in Greece, where the huge debt and the prospect of bankruptcy of the state scared investors and led the European Union and the International Monetary Fund to adopt a rescue plan for nearly a trillion dollars. Representatives of the Chinese government stressed that if the programs to stimulate the economy be maintained, this can create financial bubbles that will generate risk. Analysts say one reason why China announced on Saturday that will allow some flexibility in its currency, is inflation, making the country imports more expensive. Furthermore, fiscal policy and other topics, which are expected to be discussed at a meeting in Toronto, have low levels of consumption and large trade imbalances of Germany and Japan.
Read the full story

70% of companies with revenue of $ 1 billion or more plan to increase spending on initiatives related to climate change in the next two years, according to global study commissioned by Ernst & Young and said. Nearly half of 300 directors of companies surveyed said that their investments related to climate change will vary from 0.5% to over 5% of their revenues by 2012. 82% of respondents indicated that they plan to invest in energy efficiency over the next 12 months, while 92 percent believe that energy costs will be an important factor during this period. The heads of companies commit to taking action, although said that complying with different regulations in different countries will be a challenge. The fact that 70% of company bosses are planning to spend more for programs related to climate change is “one of the amazing discoveries, the study indicates Melanie Steiner of Ernst & Young. Despite regulatory uncertainty on climate change “companies really take action because they see that this is a business issue and opportunity to generate new revenue,” said Steiner. While action to tackle the consequences of climate change in the past been a question in the field of public relations today are able to make money through new services and products, savings through better efficiency and reducing the risk, she adds.
Read the full story

Mergers and acquisitions worldwide are gaining momentum in the first quarter of the year in the last three months were made over 2 thousand cross-border acquisitions and hostile takeovers 10. To contribute to this recovery in the global economy and stock market rally over the past 12 months. The value of takeovers increased by 5% annually during the first three months of this year to 498.24 billion dollars, cited by Bloomberg. Hostile acquisitions recorded growth of over 300 percent to 17.46 billion dollars. According to Mark Sharif, head of the Department of mergers and acquisitions for Citigroup, acquisitions may increase by 15-20% by the end of this year, provided that the global economy to shrink again. Last year, the realized value of acquisitions fell by 27 percent to 1.8 trillion. dollars, which is the lowest level for the past six years. Citigroup is one of the largest consultants in this field, she managed the sale of Asian life insurance unit of AIG, which was bought by Prudential of Britain’s 35.5 billion dollars earlier this year. It is the biggest deal in the market of mergers and acquisitions this year. Among the biggest deals this year and became hostile takeover of British chocolate maker Cadbury on the U.S. food manufacturer Kraft Foods. After four tense battle Cadbury has been absorbed by Kraft Foods for an amount of 21.4 billion dollars in February this year.
Read the full story