G8 wants to stop the policy of mass rescue

After the "Storm" debate, the G8 finance ministers announced 13, in view of the economy has stabilized, the G8 started to consider how to deactivate the Government policy of large-scale economic stimulus, but at this stage does not put into practice.

Reuters reported that the United States, United Kingdom, France, Germany, Italy, Canada, Japan and Russia's Finance Minister, spoke at the national economic situation described, the language of the financial crisis has been the most positive feelings.

The G8 Finance Ministers meeting for two days, 13. United States Secretary of the Treasury Timothy Geithner post-session · said: "this field is weakening economic storm strength. Many economies appear encouraging signs. ”

The g-8 finance ministers that day Please study the International Monetary Fund, the financial tsunami tide, the Government on how best to deactivate the economic stimulation policy.

They asked the IMF to help work out the "withdrawal strategy" to reduce the interest rate cuts, tax breaks and other economic incentives for the negative impacts and ensure long-term sustainable economic recovery.

One does not want to expose the name of the source told Reuters, the International Monetary Fund (IMF) may be submitted at the annual meeting of October "exit strategies" report.

Finance Ministers ' meeting communiqué, stressed that in view of the publication "the situation remains uncertain, is not conducive to economic and financial stability in significant risk still exists", eight is not immediately deactivate the economic stimulation policy.

Geithner said that the policy shift was premature, "the early signs of upturn is inspiring, but global economic activity remains far from their full potential, we are still facing severe challenges."

Reuters reported that the G8 's internal policy on the "withdrawal" differences. Germany and Canada and other countries want to stop economic stimulation as early as possible, by the United States policy and cold on the United Kingdom. Report commented that revolves around the economic stimulus policy debates have diplomatic sensitivity, because if some countries than in other countries to advance the economic stimulation policy deactivated, it may be not trying to boost the global economy.

The associated press reported that Germany and other countries the potential for economic incentives, long-term risk warning these measures could lead to inflation and budget deficit double high; United States and United Kingdom are worried that the European continental countries, efforts to stimulate economic development is not enough. Some countries suggest that by the end of the year and then request the International Fund to help design the "withdrawal policy."

Japan electronic three giants facing us antitrust investigation

Japan three electronic giant Sony, Toshiba, and Hitachi 27, say, a subsidiary of the optical drive business due to a suspected violation of anti-trust law, United States Department of Justice antitrust investigation received summons.

Japan corporate social reports, receive a summons is located in the United States respectively was Sony California sales company, Hitachi and LG Electronics Korea joint venture set up in Tokyo Hitachi LG data storage company, Toshiba and Samsung Electronics Korea joint venture of Tokyo Toshiba Samsung storage technology company.

The associated press reported that Sony, three companies account for about 60% of the optical drive business market share. United States Department of justice required that these companies provide relevant information.

Three companies have indicated that they would assist in the United States Department of Justice launched an investigation.

Beautiful Christmas shopping season barely clearance business plans to extend a discount quarter

According to the information daily "reported that United States MasterCard's retail data research institution" the pulse "28 expenditure published data show that the 1 November to 24 December this year-end holiday shopping season, United States retailers sales up 3.6 percent, excluding business day different statistical factors, such as United States overall retail sales rose 1%. But "the pulse" economic research expenditure in charge card Kamalesh-Rao warned that this Christmas shopping season retail spending just a rebound "preliminary", is still far below the 2007 level.

Retailers on the United States in November and December holiday sales to annual sales of approximately 25% to 40%, this two-month profit is equivalent to the annual profit. Therefore, at the end of each year to determine the business success of the most important moment.

Affected by the global financial crisis, 2008 United States retailers sales decline, the holiday shopping quarter sales decline 3.2%, for decades the worst performance. From several important points in time, this situation is not much, than the last strong United States businesses face is still a tough game.

"Black Friday" that is, the day after Thanksgiving, it generally is a United States person year most crazy shopping day. Chicago market research company ShopperTrak statistics, this year's "Black Friday" on that day, the entire US retail sales 106.6 billion, an only weizhang 0.5%. According to the National Federation of outlets, a four-day Thanksgiving holiday in the United States the number of consumers shopping is to 1.95 billion, but the per capita consumption has decreased to $ 343.31 last year to reduce 7.9% and people more inclined to purchase low-priced products.

The last Saturday before Christmas is called the "Super Saturday", often retailers year business one of the busiest period of last year, second only to the extent of the day's hot "after Thanksgiving Black Friday." This year's "Super Saturday" is December 19. The United States retailers depressed, retail network intensive, relatively high consumption capacity of vast areas of the East coast from Blizzard, many areas of snow accumulated more than 30 cm, thousands of United States customers jam at home.

ShopperTrak statistics, 19, United States travel shopping consumers 24% year-on-year reduction in volume, as the company tracking this data the largest decline since. In addition, the United States shopping traffic an atrophy 12.4% year-over-year, sales fell by about 13 per cent to 69 billion.

Currently, the United States businesses are looking to extend the Christmas season discounts to attract more consumers. According to the National Retail Federation, the United States every year holiday sales (November-December) the performance of about 10% comes from the week after Christmas sales performance. Last year, this percentage is as high as 15%. But Reuters a recent survey revealed that only 35% of the respondents indicated that they would in the week after Christmas to continue shopping, within less than a year ago by 38%. Over the past 10 years, usually a 48% to 55% of the respondents intend to the week after Christmas shopping within.

This Christmas shopping season's biggest highlights from online shopping. United States market optimization agency Coremetrics company 28, published data show that, since the "Black Friday" Thanksgiving to Christmas "Christmas Eve", online retail sales grew by 13.6% year-on-year. Market research agency comScore said that traditional retailers this year carefully crafted shopping site to attract more customers to holiday spending, which some retailers have tasted sweet. The world's largest retailer, Wal-Mart shopping website in numerous businesses in the bowl, November hits $ 4620 million, an increase of 62%. In addition, targett stores Web site traffic increased 43% last month, has visited 3880 million hits. Sears Holdings Corporation website hits last month over 19 million passengers.

Analysts noted that the United States unemployment, credit crunch, residents are in control, and the United States consumers in front of the assortment of goods became more sensible and careful. There is also data display, along with various financial institutions issue credit cards more demanding conditions, the number of credit card holders is less than in previous years; others prefer cash consumption, to avoid budget overruns.

Although the United States the unemployment rate fell slightly in November to 10%, showed signs of stabilisation, but according to the United States Federal Reserve Board (fed) forecast that next year will be as high as 8.6% to 10.22%. Unemployment rate remained high, will have a direct impact on the consumption of the United States who wish to drag down the United States economic recovery process. Personal consumption expenditure in the United States GDP of about 2/3.

In addition, the credit crunch continues in the next few months time limit consumers ' expenditure. United States Geithner said the United States economy is accelerated, but the threat to the growth of real risk is that "the Bank is not willing to loan". Federal Reserve data show that despite the economy begins to recover, but July to October consumer lending level remains lower than the same period last year by 0.6%. There are also studies show that the total amount of consumer credit credit card this year from last year's peak fall 4.7 trillion to 3.6 trillion.

Nevertheless, recalling this Christmas shopping season, retail experts said the United States, the industry's overall performance and access their previous forecast, although not more optimistic, but there is no need to worry about. Market research agency NPD Group senior retail analyst Marshall-Cohen said: "the 2009 shopping quarter available one word to describe: the ' moderate '. "Although some market research institutes expect from November to December retail sales increased 1%, the National Federation of the maintenance of the previous decline for 1% of the expected. National Federation of outlets is scheduled for January 14, publish your shopping quarter 2009 sales statistics.

United States Treasury Secretary Geithner 22 may accept national public radio interview indicated that the present United States economic growth appears again, people afraid to spend money, enterprises started to invest. In addition, the United States Department of Commerce announced the final correction of the same day, the third quarter of this year, the United States State

In GDP annualised growth 2.2%. This is the United States economy in four consecutive quarters of decline after the first occurrence of growth. Some economists believe that the United States for the fourth quarter of economic growth will 2.5% to 3%.

Many central banks this week to discuss interest rates.

<P> Market is expected the Federal Reserve and the Bank of Japan will continue to keep the benchmark interest rate unchanged </ P> <P> Brazil, South Africa, the central bank will this week announce the latest interest rate decision </ P> <P> major this week .the central bank will hold its first meeting on interest rates this year. .Federal Reserve, Japan, Brazil, South Africa and many other central banks will announce the latest interest rate decision. .</ P> <P> Federal Open Market Committee (FOMC) on Wednesday will end a two-day policy meeting, it is widely expected to keep interest rates near zero level. .Investors will focus on post-meeting statement, including its assessment of economic conditions for the withdrawal of liquidity program and the timing of future interest rates and so on. .</ P> <P> Earlier, Federal Reserve officials have repeatedly reiterated their preference for a longer period of time to maintain low interest rates, financial markets interpret this as at least wait until interest rates later in the second half of 2010. .Authoritative survey of the media last week, the market expects the Fed will continue to keep the benchmark interest rate unchanged at 0-0.25% of the low, and that the Fed may have to after the third quarter of this year will raise interest rates. .</ P> <P> Bank of Japan will also be held this week, a two-day policy meeting. .Market is widely expected there will be no changes in yen interest rates, the central bank would not propose a new scheme. .</ P> <P> But Credit Suisse in New York currency strategist DanielKatzive said the bank may introduce more stringent measures, which will adversely yen. .</ P>.

Hold high the banner of the Bank of England holding stability factors make the election into confusion pounds.

<P> According to Shanghai Securities News reported, 10 the Bank of England decided to keep interest rates continue to lead the historically low level of 0.5% unchanged, while the decision directly to the market size of the money supply constant, the results in line with market expectations. .</ P> <P> rate decision announcement, the pound was steady against the dollar, or about 1%. .However, due to last week's election, the United Kingdom does not appear in the account for a significant majority party situation, the Conservatives and Liberal Democrats 10, further negotiations to reach an agreement to form a coalition government. .Analysts pointed out that the uncertainty of his cabinet will make the pounds fall into confusion. .</ P> <P> holding stability is still the main tone </ P> <P> Bank of England monetary policy committee decision-making body, held regular monthly policy-making in a brief statement after the meeting that the committee voted to maintain short-term interest rates .at current levels. .The statement also said the bank decided to market directly to the size of the money supply will remain unchanged at 200 billion pounds. .</ P> <P> data showed the UK economy is starting to slow recovery: the government announced in late April data showed a weak first quarter growth of 0.2% in the British economy, down from 0.4% in the fourth quarter of last year, the increase .This makes many people disappointed. .</ P> <P> from February 2008 to March 2009, a total of eight times the Bank of England cut interest rates to stimulate economic recovery, a decline of 5 percentage points. .After more than a year, the UK short-term rates remain unchanged at 0.5% level. .</ P> <P> some observers that the UK deficit-GDP ratio of about 11%, this is a dangerous figure. .From JP Morgan Chase estimates that the UK will need a higher budget surplus, at least 10 consecutive years of surplus to 5% of GDP to a deficit in 2023 will fall back with the ratio of GDP to 2007 levels. .</ P> <P> At the same time, the United Kingdom is extremely uneven economic development, consumer debt burden is too heavy, it will be difficult to shake off recession, the plight of the British. .</ P> <P> Last week, the UK general election, but there was no obvious advantage of the situation of political parties accounted for the last century, the first time since the 70s, the market worried about this. .However, the international rating Moody's said the giant, the United Kingdom general election results in the country "AAA" level will not have a direct impact on sovereign rating, saying the situation was no absolute majority party does not necessarily undermine the ability of the United Kingdom or the intention to stabilize the debt. .</ P> <P> Council sterling future is uncertain </ P> <P> in last week's election, since Cameron became leader of the parliament's biggest party of the right-wing Conservative Party, but did not obtain an absolute majority in parliament .seats, the British Council, the Council will be caught in a rare swing. .Conservatives and Liberal Democrats 10 to hold further talks to reach an agreement to form a coalition government. .Analysts believe that the cabinet will be the uncertainty of the prospect of £ Mengyin. .</ P> <P> foreign body "outside the focal point," said analyst Nicholas Hastings, in the United Kingdom general election, some people hope that the Conservatives will win the general election completely, to quickly launch a deficit reduction plan, to stabilize the financial markets .and to avoid the British sovereign downgrade. .But the election result has forced the market nervous, the United Kingdom will be forced to usher in a coalition government, and may again call an early election, which is very bad for the pound. .</ P> <P> 10 days, the dollar rebounded slightly against the pound, but the poor response rate decision after the announcement, dollar exchange rate for 1% of the increase, in the vicinity of $ 1.5. .Sterling rose against the euro is down 0.6% to 0.86 pounds, the date of the global debt crisis bank rescue to Europe together, boost the euro. .Before the election last week, the pound fell to $ 1.4596 was for the lowest since April 2009. .</ P> <P> However, analysts say that, pound against the U.S. dollar's gains may not be sustained. .At least the short term the euro will be supported by aid programs, and if negotiations take too long the British cabinet, and the delay in the new government composed of a solid, it may lead traders to re-sell pounds. .</ P> <P> present, the market focus is on whether the debt crisis in Europe will further spread to others, including Britain, the financial position of poor countries. .Therefore, the British cabinet related party agreements negotiated breathing space is limited. .However, all parties involved in the negotiations, said no matter what agreement they reached to address the huge budget deficits the United Kingdom will be the core of the agreement. .</ P> <P> restart the dollar repurchase operations </ P> <P> addition to being on their own domestic economic situation, said watching the Bank of England did not forget the debt crisis in response to Europe to take action. .The central bank said the dollar will resume 11th repurchase operation, then once every Wednesday. .</ P> <P> 10 at the Bank of England agreed to join the morning, including the Federal Reserve, European Central Bank, Bank of Canada, Switzerland and joint action to restart the U.S. dollar repo operations to ease the interbank market tensions. .Bank of England said in a statement, "the central bank will continue to view the U.S. based on market conditions repurchase operations." </ P> <P> Under the plan, the Bank of England will be the afternoon of the 11th Beijing have announced details of weekly repurchase operations, .announced repurchase rate, and start bidding. .</ P> <P> British Chancellor of the Exchequer Darling, 10, also revealed that, in the European Union and the International Monetary Fund (IMF) jointly launched the stability of the financial markets and address the debt crisis of the Greek aid program, the British government will contribute up to 80 billion .pounds (about 12.37 billion U.S. dollars). .He said, "Only when the Greek 100% default, this number will increase." </ P>.

Keep in mind the United States and Europe talk about where to make the RMB G20 Jin.

<P> 20 Group (G20) summit will be the fourth time June 26 to 27 held in Toronto, Canada's largest city. .The summit will discuss the global sustainable growth, international financial regulation, international financial institutions and the promotion of trade liberalization reform, oppose trade protectionism and other issues. .</ P> <P> Just this past weekend, the White House released the president a letter addressed to the other G20 leaders, Obama stressed in the letter, to create employment, self-sustained economic .recovery is essential. .If the people confidence in the weakening of economic growth, world leaders should "quickly and forcefully" to be addressed, to avoid the decline in economic activity. .The host of the Canadian International Trade Minister 彼得范洛安 said recently that Canada will pass in the G20 summit in Toronto, "in the world of free trade to open the door to" the core message. .</ P> <P> As for the RMB exchange rate, China has a clear attitude towards this time, sternly with the matter. .China's vice foreign minister, coordinator of the Chinese Affairs Cui G20 summit on June 18 said China's yuan currency sovereignty should not be discussed in an international context. .However, financial regulation, the EU found a lot of common language. .Cui made the Chinese side of the G20 summit of the five expected in Toronto, including continue to push forward financial reform, especially strengthening the supervision of rating agencies. .Although China is highly rated, but not change the existing mechanism, China and Europe could do anything they want to become a victim of rating agencies. .</ P> <P> Further reading </ P> <P> EU pushing bank tax </ P> <P> "Today, we held the first time since I took office 'normal' summit." Held last weekend .The EU summit, the EU took a deep breath Rompuy President of the Council. .As the market has stabilized, the European Union summit has opened the two regulatory prescriptions: First, open all EU banks stress test results, one at the end of June of the G20 summit in pushing the global banking tax. .</ P>.

Not the global stock market is followed by a bad roller coaster.

<P> Spent less than two weeks in the "good old days", the overseas stock market turmoil over the past couple of days before. .Because of the weakening of European debt crisis seems to get a boost investor confidence in the past few days has been a heavy blow. .</ P> <P> Tuesday's New York market, the U.S. stock market is followed by late diving, European stock markets ended the rare "Nine Yang" good momentum of Wednesday's Asia-Pacific stock markets also fell sound one. .Market participants pointed out that the weak housing data from the United States, the European banking sector came more bad news and the Fed meeting on interest rates brought about by caution, have affected the sentiment. .Some analysts believe that further uncertainty in the economy before the stock market in coming months may still be more volatile. .</ P> <P> U.S. stocks late in the diving and acting </ P> <P> Tuesday, U.S. stocks staged a second day late in the diving market. .At the close, all three major indexes fall more than 1%. .Most of the trading hours in the day, the stock market trading in the positive range. .</ P> <P> 22 stocks in the last half hour of trading, the three major indices plunged across the board there, falling quickly expanded to more than 1%. .At the close, the Dow fell 148.89 points to 10,293.52 points, down 1.43%, the highest since June 4 the biggest one-day drop; Standard & Poor's 500 index fell 17.89 points to 1095.31 points, down 1.61%; the Nasdaq Composite Index .down 27.29 points to 2261.80 points, down 1.19%. .</ P> <P> stocks and sectors, the decline in property stocks and energy stocks the top. .S & P 500 index closed housing construction industry fell 2.3%, Home Depot and DRHorton and other industry giants recorded a decrease of nearly 3%. .</ P> <P> In addition, energy stocks also decline significantly. .Chevron fell $ 1.72, to 74 cents, or 2.3%. .Exxon Mobil fell $ 1.19, to $ 61.94, down 1.9%. .</ P> <P> the same day, European stock markets also ended the rally for several days, had been rising for nine days of pan-European blue chip index FTSEurofirst300 index fell 0.4% Tuesday, while in the previous nine trading days, the cumulative rise in the index .7.7%. .The three major stock markets in Europe, the United Kingdom, Germany and France's benchmark index fell 1.0%, respectively, 0.4% and 0.8%. .</ P> <P> energy and banking stocks led by the broader market, which is still trapped oil spill BP shares fell 4.4%, to close at 13-year low. .Fitch lowered the ratings of BNP Paribas, the banking sector brought about suppression, BNP Paribas, Credit Agricole and Societe Generale Bank of decline in the 1.9 to 4.7 percent range. .</ P> <P> decline has also affected the Asia-Pacific markets on Wednesday, MSCI Asia Pacific Index fell 1.3% in late day, for the past two weeks, its biggest one day drop. .Among them, Japanese stocks plunged 1.9%, the Australian stock market fell 1.6%, Hong Kong stocks edged up 0.2%. .</ P> <P> U.S. housing market is worrying </ P> <P> after the opening bell on Wednesday, European markets are still in the doldrums. .European Dow Jones Stoxx 600 Index fell 0.6% in early trading. .</ P> <P> industry that brought the stock market there are multiple factors to suppress, but the most important real estate when the number of weak U.S. data and the European banking sector's bad news. .</ P> <P> the National Association of Realtors on Tuesday, the United States in May second-hand housing sales were down 2.2% annual rate of 5.66 million units, reversing the previous two consecutive months of growth. .Economists had expected a second-hand housing sales in May increased by 5.0% to an annual rate of 6.06 million units. .As of the end of May, the United States for sale second-hand housing stock decreased by 3.4%, while still reached 3.89 million units, equivalent to 8.3 months of sales. .12 </ p>.