German Allianz SE Group has made an offer to take over unofficial QBE Insurance, the largest insurance company in Australia, not to mention the transaction value, said on Monday, Reuters sources who wished to remain anonymous.
Allianz SE shares, the largest insurance company in Europe fell 1.6% month after publication Handelsblatt announced that Allianz has launched a tender for 15 Australian dollars per title, which assesses QBE to 20 billion dollars Australians (15 billion dollars).
QBE, one of the top 20 insurance companies in the world with operations in North America, Europe, Australia and New Zealand, issued a statement saying that it is in talks with Allianz or another possible buyer.
Allianz representatives have not commented on the information. Australia is an attractive market because the population and the economy is growing faster than in other developed countries and regulations are more stable than in emerging markets.
This month, general manager of Allianz SE, Oliver Baeta, said the German insurance company is interested in major acquisitions in the United States and Europe. Analysts estimate that Allianz has nine billion fund for acquisitions.
The German company is present on the market in Romania by Allianz-Tiriac.
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Lukoil, the second largest oil producer in Russia, seeking growth opportunities in the Middle East as Iran provides to developing international partners more oilfields, said Sunday charge Lukoil Middle East Region, Gati Al-Jebouri, according to Bloomberg.
Gati Al-Jebouri said that Lukoil wants to find new sources of production in the Middle East, to supplement its operations existing in Iran and Egypt, provided to find projects whose production costs are as low as those in Russia.
"Iran is our target area at this time," said Gati Al-Jebouri. He added that Lukoil is currently discussing with the company Iranian National Iranian Oil Company (NIOC) regarding its involvement in developing oil fields Abe Timur and Mansuri in central western Iran, adding that he hopes the firms to reach an agreement in first half year.
Iran has prepared a list of 70 oil and gas deposits that will provide foreign investors, while the authorities in Tehran will obtain financing and foreign technology after the removal of international sanctions.
In other parts of the Middle East, Gati Al-Jebouri informed that Lukoil is exploring opportunities in Abu Dhabi and Kuwait. Instead, Jebouri announced that Lukoil has abandoned an exploration of gas with Saudi Arabian Oil Co. After a project in the desert did not discover deposits commercially viable.
Lukoil is the second largest crude oil producer in Russia, with proven reserves of hydrocarbons which amounts to about 1.3% of global reserves.
Lukoil Romania is one of the leading Romanian oil market, with a share of around 20% of the total market of petroleum products. Currently, the company owns refinery Lukoil Romania Petrotel - and fuels through a network of 300 filling stations.
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Airbnb and Starbucks have announced the first practical response of big American companies - free accommodation and employment of immigrants who are banned from entering the United States - the decree controversial illegal immigration given by President Donald Trump, branded as "unfair" by large employers.
Starbucks coffee chain will recruit up to 10,000 refugees in the next five years, the employee in writing, on Sunday, CEO Howard Schultz. They target people who have fled war, persecution and discrimination in the 75 countries where it operates American group.
In the US, Starbucks will begin by recruiting refugees who worked for the US military as interpreters, for example.
Schultz, a friend of the Democratic Party, also announced that Starbucks is in contact with employees affected by drecretul presidential who implemented severe restrictions in access to the US territory and "checks extreme" citizens of seven Muslim countries - Syria, Libya, Sudan Iran, Iraq, Somalia and Yemen.
"We live in an unprecedented period, a time during which (...) the promise of the American dream is questioned," he denounced.
Airbnb proposes to turn a free hosting affected persons, refugees stranded at airports these restrictions.
"Airbnb provides a free accommodation and refugees of any person is prohibited to enter the United States," he wrote on his Twitter account Brian Chesky, CEO of the group. He promises further announcements.
"Contact me if you need accommodation," he concludes. The Group intends to use its program in case of natural disaster, which provides reception of displaced persons.
Platform rental housing online, whose offers are in propirţie over 80% outside the US, envisages also specific measures if there is no hosts near the place where a person affected by decree against immigration.
"Opening our borders closing. Closing the divide them still a little the United States. Let's find means to connect people and not to split," Brian Chesky calls.
His message was received positively by the group members. "We have accommodation available at Philadeplphia (northeast). How can I participate or contribute?" Asks Andrew Tran example.
In the same vein, Starbucks has committed to reimburse employees who are part of the IF established by previous US President Barack Obama in 2012, which allowed the more than 750,000 illegal immigrants who arrived when they were minors territory US to obtain permits to stay and work.
Schultz, CEO one of the few Americans who mixed in a political debate on racial tensions, two years ago, came to the aid of another target inside Sunday's Donald Trump - Mexico.
You have "built bridges and not walls with Mexico," he complains, referring to the wall that new US president wants to raise the border between the United States and this country.
Lyft reservation service cars without drivers, among whose shareholders are General Motors, has pledged to donate one million dollars of the organization for the defense of civil rights American Civil Liberties Union (ACLU), which attacked the American justice those restrictions immigration.
Concurebtul his Uber, widely criticized on social networks because its initial reaction, considered weak, pledged to help the affected drivers, and Elon Musk, CEO of Tesla, asked his Twitter account subscribers il and make suggestions on possible amendments to the decree on migration.
Once employers in Silicon Valley giants have expressed concern Saturday, it swept him and the leaders of multinationals based on the East Coast.
Jeffrey Immelt, CEO of industrial conglomerate General Electric (aircraft engines, turbines), which employ many workers, states that they "are important to our success."
JPMorgan Chase Bank began, in-part, to examine together with employees with visas that can be done, said CEO Jamie Dimon, who promised support for "unabated".
Dimon and Immelt part, along with Elon Musk, the forum selected by Donald Trump large employers to advise it in connection with its economic policy.
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More and more foreign investors take into account the possibility that Jean-Marie Le Pen to become president of France (spread on French bonds rose by 32 points since August 2016), Christopher comment Dembik, Head of Macro Analysis / Saxo Bank, into an analysis released on Monday.
According to him, Le Pen does not have enough support to pass the threshold of 50% of the vote. Republican Front is weaker than in 2002, but has enough left voters who will vote for the right, just to avoid a presidential Le Pen. The winner of the French Socialist Party internal elections is Benoit Hamon, having it sound principles of protecting the environment, supporting the low income and the working week to 32 hours.
French Socialist Party in the footsteps party Pasok, the Greek crisis marked by ideological and political marginalization facing a strong left-wing party. In these circumstances, it is very likely that supporters of the defeated, Manuel Valls, former premier to follow Emmanuel Macron in the coming weeks. This, in turn, will not be too Macron's beneficial because it has an associated image leftist candidate, said Christopher Dembik.
Group Saxo Bank (Saxo) is a specialist in multi-asset investment and trading offering a comprehensive set of technologies, tools and strategies for trading and investments. Founded in 1992, Saxo has over 1,500 employees in financial centers around the globe, including London, Singapore, Paris, Zurich, Dubai and Tokyo.
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The number of unemployed in Spain fell by 390 534 people in 2016 to 3.70 million, representing a decrease of 9.54% compared to 2015, show figures released Wednesday by the Spanish Ministry of Labour.
This decrease in the number of people registered in the National Agency for Employment is higher than that recorded in 2015, when the number of unemployed in Spain fell by 354 203 people, and also the largest annual drop ever recorded in Spanish history.
Only in December 2016 which traditionally is one favorable employment thanks to temporary contracts for the holidays year-end, the number of unemployed decreased by 86 849 people, more than the expectations of analysts who were betting on a decline of 50,000 people, and more than 55 790 people drop recorded in December, 2015.
Spanish Ministry of Labour did not provide figures for the unemployment rate. It is calculated by the National Statistics Institute (INE), based on a different methodology, and in the third quarter of last year stood at 18.9% of the working population, the second highest unemployment rate in the eurozone after Greece .
Objectives of prime minister Mariano Rajoy
Unemployment is declining in Spain since 2013 after several years of recession when the unemployment rate reached a record level of over 26% of the active population. The significant decrease in the number of unemployed in 2016 is mainly due to the services sector which registered 208 053 unemployed, with 7.69% less than in 2015 and the construction sector, where 77.249 registered unemployed, with 17.04% less than in 2015.
Spanish Prime Minister Mariano Rajoy, in power since 2011 and reconfirmed in late October for a second term, has set an objective of creating 500,000 jobs per year to reach 20 million employees in 2020. Rajoy it is based on a robust economic growth of 3.2% annual pace in the third quarter, but will have to meet European Commission requirements but in terms of reducing the public deficit and the parliamentary opposition, which called for measures social to enable it to continue to govern.
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In the Westminster area of central London authorities decided that parking will be more expensive by 50% for diesel cars, the movement having chances to be adopted in many places in the UK Telegraph. Mayor of London said last month that 10,000 people die each year because of pollution in the capital, and diesel also has a major fault. Many of diesel car owners are upset by the new measures, after more than a decade have been encouraged to buy diesel cars, telling them the ones that are more environmentally friendly than gasoline.
Westminster City Council decision applies from April and will be overcharged diesel cars, so parking in the area will cost £ 2.45 / hour more than the standard fare of £ 4.90. It is hoped that owners of diesel cars will be discouraged and bring them to the area estimate is that many muncipalitati from across the UK will adopt similar measures that will increase revenues to the budget.
Representatives of associations auto industry say the measure will alienate a large number of owners of diesel engines they bought in good faith after being told that pollute less and after and the authorities have strongly supported cars on diesel, imposing lower taxes for them.
An opinion is more often heard but that all diesel should not be penalized sites, but trucks, buses and taxis old, very new sites because diesel emissions are extremely low. Estimates show that half of the pollution caused by diesel engines could come from just one tenth of ancient vehicles practically.
Inflows another area of London, Hackney, the local council on several streets prohibit parking all cars, except electrical, planning to allocate a million pounds to install charging stations in the streets.
Mayor of London, Sadiq Khan, said last Monday that nearly 10,000 people die each year in the capital due to air pollution and announces investments of 875 million pounds to improve air quality, double what was spent predecessor, Boris Johnson. Khan wants to introduce a "toxic tax" that would apply to the most polluting vehicles, both diesel and gasoline tax that will apply in addition to the famous "congestion charge".
Technology companies have criticized the injunction given by Donald Trump for the citizens of seven Muslim countries, even if they have the right to work, not allowed to enter the US temporarily. Immigrants have an essential role to Silicon Valley companies, many of them are founded. Google, Apple, Facebook. Microsoft and Uber are among the companies that say employees are affected by the bans. Most hit are the Iranians have the right to work in the US, there is an important technological community.
Injunction applied in seven countries has sparked a huge scandal because thousands of people were stranded at airports where they flight to the US or its destination at US airports. The measures apply including those who own so-called green card (green card), which allow them to live and work in the United States. Saturday evening a court managed to postpone for a while at least some of the adverse consequences of the order, the Government unable to deport immigrants and refugees stranded at US airports. The ruling was however interpreted and applied differently, creating chaos at airports.
The seven countries are Iran, Iraq, Libya, Somalia, Sudan, Syria and Yemen.
Latest census data show that in 2012 there were more than 780,000 US residents born in these seven countries, most being from Iran (370,000).
Many large companies in technology have criticized the measure, with varying degrees of vehemence, the most radical saying that it is a kind of religious persecution in business.
US bans entry, designed to protect the country against terrorists, affects US companies that rely on people from all over the world, a good portion of very good engineers in Silicon Valley are born outside the US.
In addition, over half of IT companies worth over a billion dollars were founded by people who were not born in the US and bosses of large companies are born away from US. For example bosses Google and Microsoft are born in India and WhatsApp chief in the former USSR.
The idea common messages sent from big companies is that, although it is normal for the state to implement measures to ensure the safety of citizens, these measures should apply only to those who may be a threat, not all people in seven countries.
The most famous Iranian working in technology in the US is Omid Kordestani, born in 1963 in Tehran. He worked 15 years at Google where he was also director of business, with responsibilities over the years on the revenue side, customers, operations, marketing and partnerships. 2015 is director of the board at Twitter.
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Hong Kong maintains its seventh consecutive year for the title of most expensive housing market in the world, shows study published Monday by the International Housing Affordability demographic, according to Bloomberg.
The study covers 406 housing markets in major metropolitan areas in Australia, Canada, China, Ireland, Japan, New Zealand, Singapore, UK and USA. Includes 92 major metropolitan markets, with over a million inhabitants, including five cities: Tokyo, Yokohama, New York, Osaka-Kobe-Kyoto, Los Angeles and London.
The average price of housing in Hong Kong last year was 18.1 times the average annual income before taxes of a household. Although there is a slight improvement compared to 2015 when the average price of housing in Hong Kong was 19 times the average annual income before taxes of a household, demographic believes that a score above 5.1 indicates an extremely inconvenient.
In second place is again the Australian city of Sydney, where the average price of a home was 12.2 times the average annual income of a household before taxes, on the third and fourth ranges cities Vancouver (Canada) and Auckland (New Zealand ).
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Regulators in Germany will meet next Monday with representatives of more than 20 foreign banks, including Morgan Stanley, Goldman Sachs and Citigroup, to present requirements in relation to the possible relocation of operations from London to Frankfurt after Brexit, Reuters said on Wednesday a number of sources close to the dossier.
Reportedly, BaFin's supervisory authority in the financial Germany, decided to organize this meeting, the first of its kind organized in Germany to respond to requests detailed banks concerned to move its operations from London while the Sea Britain is preparing to initiate talks for divorce from the EU.
'BaFin wants to provide participants with an overview about the main issues for those who want to move their businesses in Germany, "said one of the sources. Reportedly, BaFin will emphasize very clearly that it will not accept operations such 'mailbox' and that banks will have to introduce significant risk management procedures and Frankfurt also have a number of top executives.
Other sources said that the meeting will be attended by officials from the German Central Bank (Bundesbank) and the European Central Bank. The sources added that the German Finance Minister, Wolfgang Schaeuble, Frankfurt supports efforts to attract some of bankers who now works in London.
Prime Minister Theresa May said last week that Britain will leave the single market, a move that will isolate the City of London for her customers. In these circumstances Frankfurt looks set to be one of the main winners of a possible exodus of bankers from London. But cities like Dublin announces Sand Pari serious competitors and some American banks could transfer some posts from New York to London.
Germany's economic strength and that Frankfurt already hosts the headquarters of the ECB is attractive elements for banks. But the financial capital of Germany has some disadvantages in attracting foreign bankers. There is a shortage of housing for newcomers and those seats to the 13 international schools in the region are occupied.
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US auto group Ford Motor Co. on Thursday reported its first quarterly loss in seven years due to the revaluation of liabilities to pension funds and the costs associated with canceling the construction of a plant in Mexico.
Ford, the second-largest US automaker, said that in the fourth quarter 2016 net losses of 783 million dollars, or 20 cents per share, compared with a profit of $ 1.9 billion in the same period of 2015 . quarterly turnover fell by 4% to 38.7 billion dollars while the number of vehicles sold fell by 68,000 to 1.7 million.
However, the whole of 2016 Ford has achieved a net profit of $ 4.6 billion, or $ 1.15 per share, down 37.7% compared with 2015. Ford also recorded in 2016 a operating profit of $ 10.4 billion, the second best result in company history, and the annual turnover increased by 1.5% to 151.80 billion dollars. The total number of vehicles sold by Ford last year globally increased by 16,000 to 6.7 million.
Ford 2016 results were supported by solid performance in North America, where he recorded an operating profit of nine billion dollars and an operating margin of 9.7%. Regarding Europe 2016 Ford posted a record operating profit of 1.2 billion dollars, despite Brexitului. "It's a historic results," said CEO of Ford, Mark Fields, in an interview with CNBC, confirming that the US group would remain profitable in Europe in 2017 despite the depreciation of the pound sterling and the launch of new models such as the new generation of Ford Fiesta.
In Romania, Ford started production at the factory in Craiova in 2012, with the launch of the B-Max, the first product of this factory and the first 5 star EuroNCAP Romanian vehicle. Also in 2012, Ford launched EcoBoost engine production at Craiova. In early 2016 President - General Director of Ford Europe, Jim Farley, announced that the manufacturer will build SUV small EcoSport at the factory in Craiova since autumn 2017 model that will be sold in all European markets Ford less than in Russia, and will invest 200 million euros.
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The British economy will pay a higher cost in 2017 and 2018 for the uncertainties created following the vote on the country out of the EU (Brexit), said on Thursday the European Commissioner for Economic Affairs Pierre Moscovici, admitting that the UK was not immediately affected by 23 June vote.
"Uncertainties will have a more palpable on the British economy in 2017 and 2018," said Pierre Moscovici, in a press conference in Brussels after admitting that the UK has fared better than expected immediately after voting June 23.
The whole of last year, the British economy has registered an advance of 2%, the lowest growth rate in 2013, down from 2.2% in 2015. For this year, economists expect an expansion of only 1, 2%.
According to data published Thursday by the Office for National Statistics (ONS), UK GDP growth in the fourth quarter of 2016 exceeded the forecasts of economists, continuing to defy expectations of slowing expansion in the vote on the country out of the EU.
The increase of 0.6% exceeded economists' estimate of 0.5% and marks the 16th consecutive quarterly advance of the British economy. Growth engine of the economy it was the services sector, supported by consumer spending, while industry and construction contributed zero, according to data released Thursday by the Office for National Statistics (ONS).
After the vote June 23 on the UK out of the EU economy recorded a performance above expectations, recent data shows a possible decline in consumer spending due to the depreciation of sterling, affecting income.
Services, which account for over 75% of UK GDP, recorded an advance of 0.8% in the period October to December 2016, offsetting stagnation in industrial production and growth of just 0.1% in the construction sector.
At an annual pace, the UK recorded GDP growth of 2.4% in the fourth quarter of 2016, also above analysts' estimates.
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Swiss watches could become cheaper in following years, because Swiss watch exports fell by 9.9% last year, the most significant decline in seven years, following the slowdown in global demand.
After several years of record growth, exports of watches fell in 2016 by 3.3% to 21.5 billion Swiss francs (21.2 billion dollars) announced Thursday Federation of Swiss Watchmaking Industry (FHS ). Is the most significant annual decline since 2009, when it registered a decrease of 22%. The total number of watches exported in 2016 fell to 25.4 million, also the lowest level since 2009.
Swiss Watchmaking Industry Federation said that exports to Hong Kong, the biggest market, fell by almost 25% last year, while deliveries to China were down 4.7%, although there was an improvement to end in December was recorded an increase of 5.5%. Demand for luxury watches has been affected by the anti-corruption campaign launched by the Chinese government to reduce the number of Chinese tourists who bought watches in Europe, and the development of smart watches category.
The Swiss company Richemont in 2016 spent over 200 million euros (215 million dollars) to buy back unsold watches and fired about 200 employees who manufactured the famous Cartier watches, Piaget and Vacheron Constantin. Richemont reported sales growth of watches in their own stores in the fourth quarter of 2016.
Swiss Watchmaking Industry Federation expects a stabilization of the market this year, there are already signs of recovery.
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If you're looking for a job at the beginning of the year, you should not miss offer from Royal Caribbean International.
They want a person to go on a cruise and post Instagram photos taken during his time on the ship. Basically, the man will be paid 52,000 pounds to make three pictures a day. Specifically, only three, shows Metro.
The employee will go on three cruises and will be "forced" to each of them to make a trip ashore.
Besides photos posted on Instagram, it will have to interact with network users and achieve a clip with lived experience.
Ben Bouldin, representative of Royal Caribbean, said that their goal is to find a person to be an excellent storyteller and talented helping to capture the unique experiences.
To apply for a job, you need to post on your Instagramul a photo from a trip and taguiesti @Royal Caribbean International, and putting #ExtraordinaryExplorer hashtag. Shortly at the time of the announcement, nearly 20,000 people have applied for the job.
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Austrian citizens should have priority in employment against immigrants from other EU countries, proposes the Austrian Chancellor, Christian Kern, accusing the Eastern European countries that export unemployment in the West.
Immigrants come from other EU countries should be able to be stopped to take up a job if an Austrian qualified to apply for the same function, said Chancellor Christian Kern, leader of the Social Democratic Party of Austria (SPO, center-left).
"This means that unless it will be available in Austria unemployed a job can be given unrestricted immigrant," said Christian Kern, quoted by news website Kurier.at and the EUobserver.
Christian Kern accused Eastern European countries that "export unemployment in Austria", urging the Austrian companies to prioritize employment Austrians.
Austrian Chancellor propose a "protective mechanism on the labor market". "At EU level, reinstituted a tool in the labor market, mainly in sectors where unemployment is high and where there are tensions," said Kern.
The EU Treaties guarantee free movement of citizens, goods, capital, services and provide equal rights, including employment for citizens of all Member States.
Net wealth of Mark Zuckerberg grew by about $ 5 billion in January, more than any billionaire in the Forbes list, enough to recover losses incurred by Facebook founder immediately after the victory of Donald Trump in American presidential elections of November 8, MarketWatch forward.
Zuckerberg's fortune growth was fueled by higher incomes of Facebook and a series of favorable analyst reports that made the company's stock was approaching a historic high of over 133 dollars per unit achieved in October.
Facebook shares ended Friday at $ 128.34 transactions per unit. Zuckerberg owns 410 million shares Facebook.
Facebook shares decline immediately after Trump's surprising victory in elections, deleted about 7% of Zuckerberg's net worth.
Increasing 5 billion of net wealth of the founder of Facebook in the first two weeks of this month is higher than that recorded by any billionaire in the Forbes billionaires.
Zuckerberg now has a fortune estimated at 53.8 billion dollars, according to the ranking of billionaires by Forbes conducted in real time. Facebook boss in this way is the fifth richest man in the world after Bill Gates, Warren Buffett and Amancio Ortega Jeff Bezos, each of them having a fortune of 70 billion dollars.
British Prime Minister Theresa May will go ahead with plans to exit Great Britain from the European Union despite the Supreme Court decision obliging the government to seek Parliament's consent to trigger Article 50 of the Treaty of Lisbon.
Moreover, chances are that Article 50 be triggered before the end of March, as prime minister wants Theresa May, writes Reuters in an analysis published Tuesday.
Even if the judges of the highest judicial authorities in the UK have decided that Parliament must give its consent on the start of negotiations for Brexit, this will not lead to major delays as they would like some investors or supporters of the EU. The reason is that the opposition is divided in Britain.
"We will not block Article 50," said Jeremy Corbin last week Labour leader who campaigned against Brexitului. "Labour-all Members will be asked to vote that way next week, or ever will be held this vote," he said.
Not all colleagues of Corbyn will vote as he says, but May could get the votes it needs. But what could facilitate the Supreme Court decision is to be avoided a tough Brexit, who eventually immigration restrictions over access to the single market. In this way members of Parliament will have more control over the negotiation process and the final agreement.
Conservative cabinet ministers of May that they expected to lose the already came with options, including a short legislative proposal that could be immediately sent House of Commons.
Although the referendum before June vast majority of lawmakers in the lower house they wanted Britain to remain in the EU, most especially those in England and Wales now say they will vote for starting negotiations.
Lawmakers held a non-binding vote in May's proposal in December 2016 to start negotiations before the beginning of April.
Labour, however, have a problem with their electorate, especially working-class format, which voted to leave the EU and was attracted by eurosceptic parties in recent years.
Although not block Brexit, Corbyn, himself a critic of the EU for many years, he said that Britain will fight to have access to the free market, respecting reasonable condition management of migration.
Labour might seek legislative amendment to any project using several conservatives who oppose tough Brexit and other smaller parties such as the Scottish Nationalists and Liberal Democrats.
The biggest threat comes from the upper house of Parliament, the House of Lords, where most lawmakers oppose Brexitului and not dependent on the electorate.
If the House of Lords vote against triggering negotiations, the Government plans to Brexit May could be affected drastically.
But May is confident that Parliament will be the government that the House of Lords would risk triggering a constitutional crisis on the grounds that unelected members of a House of Parliament would veto the will of voters expressed through referendum.
The economic crisis has passed, but the European Union (EU) has several weaknesses that make thwart its development.
Bloc is a conglomerate of various nations. Even if some steps have been taken for a space to become homogeneous (single currency, free movement of goods and people), there are some aspects where the discrepancies are very high (tax policy, labor market laws, government structure and economy).
In addition, the leadership in Brussels has limited powers and Member States are still governed by laws archaic and some divergent cultural and historical prevent cross-border cooperation in certain aspects, writes Katina Stefanova, entrepreneur and consultant, in an editorial published by Forbes.
The gap between countries in Southern Europe and rest of the continent
It shows that the gap between the countries of central continent, led by Germany, and "sisters" in the South - Spain, Portugal and Greece - is still high, and this Close region's economy overall.
Stefanova Katina writes that protectionist laws have made less flexible labor market on the Old Continent to be ineffective. And wages rose in the center of the euro zone, while the periphery situation is exactly the opposite.
In addition, the refugee crisis is still a concern in economically and culturally. German Chancellor Angela Merkel says that immigrants could be a cheap labor and could be an answer to Europe's aging population, but the plan does not seem viable in the short term.
That's because more than a million refugees should integrate in the communities in which they move. And so it's currently impossible.
According to him, another problem is that the EU lacks a common army, as in the US, and this means a loss of 1% of GDP bloc.
In other news, in some cases - such as Germany - there are signs that the economy is overheating. Housing prices in the largest economy in Europe increased by 29% from 2009 to 2014, and in some cities reach up to 46% advance.
The solution to increase cohesion and Europe's economy
Katina Stefanova shows that the key to reducing these problems Europe is the implementation of fiscal policies and structural reforms.
Thus, she recommends increasing property taxes in some areas, especially in France and the UK, especially for luxury apartments and houses in residential areas.
Another option that could be considered by Brussels is deleting or restructure debt in some countries with large outstanding, such as Greece. Needless difference between rich and poor should be reduced by creating jobs.
But all these solutions must be contained in a long-term strategy. If the Marshall Plan to rebuild Europe was needed after World War II, now it needs something similar in other EU countries to recover fully from the crisis.
"The Marshall Plan was implemented in 1948. It has been almost three generations, so it's kinda topped" show source.
Some governments have started to see the need for a coherent fiscal policy. Even if European nations have dropped this "custom" 2014, 2017 it is likely to return to this custom.
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During the cold winter, the electric car has advantages and disadvantages, and the biggest unknown is related to how much influence the autonomy cold. I monitored for 3 days a frosty autonomy BMW i3 without having to recharge it, and I came to the following conclusions.
At what temperature battery is affected?
What I mean by that is that the autonomy of electric cars begin to be significantly affected by cold starting temperatures of -5 degrees Celsius. Until there everything falls into some reasonable limits: consumption is higher, but not double or more than double the battery lasts less heating, the temperature change in the car (air conditioning) by 1-2 degrees plus or minus not "kill "too much battery.
Battery can have full autonomy about 170 km for the BMW i3 with big battery (94 Ah, 33 kWh), in a context where temperatures are within -5 degrees Celsius (the lower figure). As the temperature drops to -12 degrees Celsius, autonomy can reach 140 km or less. I have to refer more to -5 degrees Celsius, more common in "Russian winters."
Just because it is cold autonomy decreases from about 240 km (summer) to 195 km (winter). Without heat. When you start and heat (which is perfectly normal and recommended) is also going 25 km of autonomy.
Climate set to 22 degrees Celsius, AUTO, no A / C. Depending on when the temperature change in the car (ie if you have got some time to go by car or not), increasing temperature by 1 degree in the cockpit can mean decreasing autonomy 3 to 8 km. More details about this last point, the observations devoted exclusively to the heating system.
And loading is difficult at temperatures below -7 degrees Celsius. The car can draw from a power outlet (50 kW DC) about 0.25 kW / minute under these conditions. If the ambient temperature is higher (somewhere over -5 degrees Celsius), the car can hold about 0.6 kW / minute.
The idea is that just because it's cold load is 2.5 times slower than other seasons in which the ambient temperature is higher.
Chapter autonomy stick with that "real 170 km" I was talking about at first. A reasonable value as possible, I say. Obviously, this autonomy varies from machine to machine (now speak i3, the Renault Zoe will be another value, the Tesla Model S will be another value), depending on battery capacity, the average consumption of the car, and mass, not least, on driving style. If you pardon a summary of illiterate for i3 94Ah "-45 km to -25 km as cold and for heating, ie -70 km for the winter."
A short distance means more consume
It's not uncommon to have a consumer a little more than 30 kWh / 100 km if you travel far less than 5 kilometers. At each stop cabin loses heat, so by opening the doors, and the fact that the car is stationary and unheated Not started a certain number of minutes or hours.
In the first 1-2 kilometers consumer can have even 50-60 kWh / 100 km. It's a lot, but it should not scare you. It's normal. And car petrol and diesel everything happens so. Winter short distances, consumption may even be double or triple.
But unlike an electric car, the cabin is heated using a heat (energy) that would otherwise be lost. At each electric car "touch of heat" is obtained from the battery, not a "hot iron" under the hood.
Returning to the consumer at temperatures below -5 degrees Celsius is very hard to get in the city, averaging below 25 kWh / 100 km, and most often you will see on board an average consumption of about 30 kWh / 100 km . Spring, summer or fall you can get the same car under 15 kWh / 100 km in the city - so consumption halved.
Finally, even a consumption of 30 kWh / 100 km, this means moving money 3 euros / 100 km. So worth the cost per kilometer unbeatable.
The battery heats hard and cools hard
Unlike a fossil fuel engine, electric motor warming is irrelevant and uninteresting. Furthermore I am interested in battery, so that it suffers when it's cold. A gasoline or diesel warms few kilometers and minutes, maximum 15. It depends on many factors, such as how it is designed thermostat, engine capacity, fuel type. And many others.
In any case, you do not have to drive an hour or more to warm up your engine! At an electric BMW i3 in my case, if not even an hour drive, you run the battery all the time cold (read "under operating temperature"). The downside is that you never know what temperature does the battery is not displayed on anywhere.
Led by "at least an hour" I do not mean the traffic lights stood still in Bucharest. Talk of high energy (departures in place) and serious energy recovery (regenerative deceleration at least by 60 km / h to 0 km / h). Downloading and uploading large amounts of heat energy battery faster.
If you stand 5 minutes per place every traffic light is very clear as you go, always winter cold battery. Things change dramatically for the better if you heated garage or if you stay in there a complex of blocks and get parking in the basement (-2 or -3), where temperatures are positive. You will leave with battery warmer and it will remain so while driving (even warms and more).
The battery is cooled after several hours downtime of the machine, where it is left at low temperatures (Celsius values that I mentioned above). As I said, the battery heats and cools hard hard.
Preconditioning is essential if you want to go through without emotion for great distances
Preconditioning means, simply, the technical process by which batteries and interior are brought to the optimum temperature using direct current from the socket, not the battery, thus extending autonomy.
So avoid running the battery is already cold and heated cabin. All using current from the socket. Preconditioning is energy-intensive and time. If you set the schedule time of departure and to precondition the car, (pre) heating the battery will take 3 hours. The machine must necessarily be connected to an outlet for preconditioning be done and how is stronger socket, the better.
For maximum comfort physically and mentally access to an outlet overnight is ideal. But it can be without. I am not so, park the car on the block every time and upload shopping centers that have sockets quick (22 kW or 50 kW). On average, winter recharge every three days car use exclusively in Bucharest.
Over nights cold (-15 degrees Celsius minimum) battery charge level does not drop. So leave your car battery with 52.5%, and so on will be the next morning. The difference might be, but autonomy.
If the night was colder morning than autonomy displayed on reboot will be higher a few kilometers (even if the battery has remained the same load as a percentage%). And vice versa. If the next day is colder than the night autonomy displayed on reboot will be less.
It is also worth to remember that immediately after you put in motion in the first kilometers, the charge will decrease more than the distance traveled (eat 5 km autonomy 1 km traveled actually say) just because in the first kilometers after the restart consumption is very big. As you drive more (over 5 km), the range will "sit".
How about demisting and changing climatic comfort?
A very good thing is that the BMW i3 instant updates autonomy according to current customers. Heat start, -25 km range (when you have full battery). Heat stop, 25 km autonomy. Start heated seats, -1 km autonomy. You stop, 1 kilometers autonomy.
These calculations made instantly and accurately shows you the distance you can browse the car with very good accuracy.
Said about the heat and the 25 km "eat" ... Do not imagine that if you have autonomy stop 5 km and 30 km warmth you get autonomy. The machine calculates the heat consumption and potential savings brought it off depending on the battery charge and depending on the actual time remaining led to depletion of battery power.
So when you autonomy 5 km off heat as possible to bring you extra just 1 km. It's a bit complicated to understand, it took something until we understand how it works and how calculated. Returning to the precision with which BMW i3 calculates remaining battery charge calculations are scenarios where the car go crazy.
Let's say you have a session led by Bucharest that lasts 30 minutes. If you start with 22 degrees Celsius set to air conditioning installation, a few minutes later grow to 23 or 24 degrees, then dropped to 20 to 21 degrees ... Autonomy display goes awry +/- 10 km and recovers only when, for some kilometers and minutes, keep your fingers away from air conditioning.
That is why it is better to let 22 to 23 degrees Celsius in winter car, AUTO, no A / C. And do not touch the air conditioning installation until spring! So you maximum efficiency and precise calculations trip computer.
Sometimes, though, you need to start windscreen demisting. That can "eat" even 15 km of autonomy and demisting off after two minutes you will not return to baseline autonomy. It's a little strange.
Furthermore, if you restart again windscreen demisting autonomy will increase compared to the earlier time (though you have just restarted a major consumer). As I said ... you put your fingers in car air conditioning installation and calculations go wrong. Or stay in your bank and everything's fine.
Changing values in board autonomy with so many kilometers can be annoying and better keep your hands at home. Rear window defroster has no effect on autonomy. Just headlights, courtesy, audio, power windows. All have an insignificant impact.
Heated seats (regardless of stage and whether heated seats both or just one) influences range with only 1 km. There are 3 steps of heating for each of the two front seats.
Formula ideal, in my view, is the air conditioning on 22 degrees, AUTO (ie automatic distribution of airflow - legs, chest, head - according to information from sensors) without A / C (almost useless in winter useful only when they are very misted windows), heated seat on continuously while driving.
That said, it's good to know that in case of a BMW i3 autonomy in winter drops to about half, and recharging is difficult to negative temperatures. On the other hand windows thaws very quickly (1-2 minutes), the machine is immediately warm (up to 5 minutes) and do not have any emotions with engine start and noises it (as happens in cars fossil fuel).
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Media Markt, one of the largest European network of electronics stores, testing services where customers can rent for a month various devices, such as drones, smartphones or "glasses" virtual reality, writes Reuters. The company says it is needed because asttfel services changed customer behavior.
Media Saturn, part of Metro Group, launched on its website a service that allows customers to rent for a month or more than 500 products, from smartphones to robotic vacuum cleaners. The tests are only in Germany, but will be extended if paying off.
"Buying habits are changing. Consumers want more flexibility and more options," says Lennart Wehrmeier, operational director at Media-Saturn Deutschland.
Media Saturn working with a startup called Grover Berlin for this service, and founder Michael Cass says that through these rental products reach new categories of customers and sales may increase because many will see as they like and they will then buy products.
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A huge reservoir of unexplored oil, possibly the largest ever discovered in the United States, was identified by the American Geological Institute (USGS) in West Texas.
USGS estimates that the deposit contains 20 billion barrels of oil in shale strata of the Permian Basin, a vast geological formation that stretches along the western part of Texas and an area of New Mexico.
The discovery is 3 times higher than the Bakken oil fields of North Dakota, and its value is estimated at $ 900 billion.
Enormous deposit of shale Wolfcamp area comprising the cities of Lubbock and Midland in Texas, is the largest oil field ever discovered uninterrupted by USGS. The area also includes natural gas and 1.6 billion barrels of liquefied natural gas.
"The fact that this is the highest rating an oilfield continuously that I ever did show that, even in areas that have produced billions of barrels of oil, there is still potential to billions (barrels)" said Walter Guidroz, coordinator of the USGS energy resources.
"Technological change and industrial practices can be significant when it comes to what technically recoverable resources, and therefore continue to make assessments of resources in the US and the world."
Over 3,000 horizontal oil wells have already been drilled in the Midland Basin Wolfcamp region. Geology of the area requires that companies use hydraulic fracturing, or fracking site to remove oil and gas from shale formations.
Rushing to open the Permian Basin led to a drop in oil preturileor, causing 2015, along with other aspects, a loss of 67 billion dollars america petroleum sector.
President Donald Trump promised to open new areas for oil, gas and coal as part of an energy policy "America First" which will involve eradication funding for clean energy.
Lack of reforms in the Russian economy could lead to depletion until the end of 2017 and the severe economic problems, said Deputy Finance Minister of Russia, Tatiana Nesterenko.
"If nothing changes by the end of next year we will not have any reservations or pay wages where we have serious economic problems. In the public sector it is our primary internal challenge "- said Nesterenko National Youth Educational Forum, according to TASS.
At the same time, she recalled that when the country ran budget dollars to Russian oil and gas, it difficult to resist temptation and not to start new projects, not to index pensions and salaries.
After nearly two years of recession, sovereign fund for such periods detrimental to the economy only fell to 32.2 billion dollars this month, according to the Russian Ministry of Finance. The Fund had 91.7 billion dollars in September 2014, just before oil prices to collapse. And the situation is expected to deteriorate, writes CNN Money, given that the fund could only reach 15 billion dollars by the end of 2016.
Why is Russian economy in recession?
Russian government's reserve fund was designed to cover the state budget deficit in periods of low income from oil and gas. Meanwhile, the budget for 2016 is based on the assumption that Russia will sell Barla Bulk-oil at $ 50 a barrel, CNN Money Show.
But the average price of oil in the first eight months of the year was less than 43 dollars per barrel, and oil now constitutes 37% of total government revenue, compared with about 50% just two years ago. The Government will publish a draft budget for next year after parliamentary elections taking place this week.
If the situation recession will continue once the resources of this fund will be exhausted, the Russian government has indicated it will appeal to another fund intended to finance future pensions and proictelor of long-term investments in the amount of 70 bln. Dollars, but not targeted to cover budget deficits.
Russia's central bank lowered benchmark interest rates Friday to 10% from 10.50%, in a new attempt to give a restart economy. The central bank still has 395 billion dollars in international reserves, declining, however, from 524 billion dollars in October 2013. More than 140 billion dollars were used between 2014 and 2015 to save the ruble from collapse , writes source.
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When we want to save no strict recommendations regarding the time and money we want to put money aside. The choice of each person is influenced by the purpose for which saves yields offered by banks on deposits in the currency gets its income and exchange rate developments.
If you wish to purchase products whose price is denominated in other currency than euro, then it is recommended savings in the national currency. The situation changes if we are interested in purchasing some goods priced in euros, such as a car or a house, a deposit is recommended in the euro.
Depending on what criteria it is recommended to choose deposit?
No doubt that when someone wants a deposit look at the interest that both will receive product features and savings (term deposit, withdrawal fees, penalties for eventual liquidation ahead of schedule etc.).
In this regard, the client should take into account the period in which it saves. If he estimates some unexpected expenses, then it is advisable to save the short term. Otherwise, if the client closes deposit ahead of schedule, according to the bank will charge interest only for the current account and will be charged a cash withdrawal fee before maturity.
Ideally, savings instruments should be more diversified, both in terms of deadlines, and in terms of currencies in which it saves. This mix will enable customers to face all contingencies.
Costs for deposit
Usually, banks do not apply cash withdrawal fees for liquidating the deposit at maturity, but there are situations that do not prove the rule. Instead, cash withdrawals before maturity may be fees. In case of liquidation before maturity, the interest due for the entire period is calculated by applying the current account interest rate.
In addition, do not forget that savers receive a net interest calculated after tax of 16% is paid by the state. Also, banks may charge a management fee for current account behind the warehouse, which can amount to a few dollars per month.
However, customers who receive their salary in a bank account and want to save and benefit from free current account management and zero commission on cash withdrawals no matter when the stored liquid.
Deposit benefits
First it has mentioned the coverage provided by the Guarantee Fund of Deposits of up to 100,000 euros. Secondly, deposits have a level higher interest than savings account type instruments, interest which most often is fixed throughout the term of the deposit, regardless of market developments. Also concerning the additional benefits fall wide variety of deadlines and payment of interest.
These benefits can add zero cash withdrawal fee at maturity for deposits matured automatic extension of the deposit at maturity with interest capitalization or pay its current account and establishment or extension of term deposits through internet banking.
Issues to be considered so that the final amount of the deposit is not less than the initial
For the final sum to be greater than the initial customers must comply with due date and eventually to withdraw money at maturity.
However, there may be some exceptions in this direction, and some banks to fee cash withdrawals of deposits on maturity. Currently, in most of the banks, cash withdrawal fee is zero when the deposit reaches maturity.
Furthermore, they must ensure, where were deposited in a bank that does not receive salary or other income, as net interest on the amount you deposited is higher than the current account management fee.
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In case you want to deposit a certain sum of money, you can appeal to a current account, a term deposit or a savings account.
Current account, called demand deposit, is one of the most used accounts availability. Interest rates on current accounts are small, usually zero.
Savings are the best known and used savings products that allow individuals to obtain attractive interest rates for amounts invested. Most commercial banks' deposits both in lei and the euro and other currencies for maturities from one month to one year and even more.
Interest on deposits is directly dependent on the chosen term. As the period is extended, the interest rate is higher.
Term deposits benefits, usually to guarantee the Deposit Guarantee Fund in the Banking System.
Deposit interest is calculated daily, but paid in advance, monthly, quarterly, annually or on expiry of storage. Deposits with capitalization, the interest rate is calculated every month not only to the deposit amount, but also the already accrued interest.
How term deposits work?
Term deposits are classified as follows:
a) depending on the method of payment of interest:
- Deposits with capitalization: periodic interest is added to your initial deposit.
- Term deposits without capitalization: monthly interest constitutes a current account holder provide them access to it; if the client withdraws the deposit before maturity of the deposit, the interest rate applied will be lower (interest on current accounts).
b) depending on the option to renew the deposit on the same term as the original:
- If you opt for automatic renewal at the end of the deposit, the deposit extends automatically. In addition, if the deposit has the option of capitalization of interest, the interest is added to your initial deposit. For the next period, the interest rate will apply to the original amount plus interest rate obtained on the previous period.
- If you do not want automatic renewal, the deposit will be due only, ie maturity deposit amount will be transferred into the current account (which will calculate the interest on demand) or the amount will remain in the same account, but without interest.
c) depending on interest:
- Term deposits with variable interest: the bank can change the interest rate on the deposit period, depending on market developments.
- Term deposits with fixed interest: the bank provides a fixed interest rate on the deposit period regardless of market developments.
Accumulation account (or savings) is a repository that provides permanent access to money from the account, deposits and withdrawals frequently repeated without being affected interest.
If a term deposit if you withdraw money before maturity, you will be penalties and you lose the accrued interest, as it is stipulated in the contract.
In general, interest rates for term deposits interest rates are higher than for the accumulation accounts.
The German Supreme Court rejected a new attempt to block the free trade agreement between Canada and the European Union.
Opponents of the cartel had asked the court in October to issue an injunction that would have prevented the German government from signing the agreement.
The court then refused, while imposing a series of conditions - notably by stipulating that the agreement should be interpreted in such a way as to allow a unilateral withdrawal from Germany.
The opponents of the agreement then went back to court, arguing that the German government did not respect these conditions. The Supreme Court said on Thursday it rejected the argument.
The Free Trade Agreement between Canada and the European Union was signed on October 30, after a last minute agreement with the small Belgian region of Wallonia.
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The phone number can replace IBAN from next year. European Central Bank (ECB) announced that 2018 wants to launch a system that will link the bank account number of phone users, so that people can pay just by entering the phone number of the recipient.
For the business world, could be a new impetus towards disintermediation since people can make payments and transfers without resorting to the services of connection, for example Paypal.
However, the payments made by telephone are neither we nor revolutionary - even built a similar service PayPal and Square are close to the Americans to come up with their own version in Europe.
But the great concern of central bankers from the ECB is that agglomeration of these services will fracture payment market in the EU and in the end instead that all countries have a single standard would reach more incompatible systems, although perhaps it would have been the best way to preserve competition between them.
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Turkish lira continued to depreciate, while the Turkish central bank could not restore confidence in the national currency. Turkish lira fell to new lows on Wednesday, despite efforts by the central bank to assist the market by selling dollars. It makes the British have the worst results this year, with loss of more than nine percent against the dollar, according to Reuters.
Only Wednesday pound fell 2.5 percent against the dollar amid fears that the bank may take measures strong enough. Bank reluctance to climb interest rates to stem the fall of the Turkish lira has heightened fears caused by bombing military, economic slowdown and political uncertainty linked to plans to boost the power of the President Tayyip Erdogan.
The Turkish lira has lost about a quarter of its value against the dollar after the attempted coup in July. On Tuesday, the central bank cut reserve ratios for foreign currency by 50 basis points in a move designed to bring to market $ 1.5 billion of liquidity title.
Erdogan's priority is growth and wants lower cost borrowing in the economy. He is a fierce critic of high interest rates. Some of his advisors and ministers argued that the depreciation of the Turkish lira is part of an attack on the Turkish economy.
At its last meeting establishing the policy rate in December, the central bank defied expectations of changes in the reference interest and has maintained its level. A new setting interest could take place on January 24. Turkish lira also depreciate against the single European currency, reaching 4.1089.
Arctic cold and heavy snowfalls have left tens of thousands of households in southeastern Europe without electricity, while the rivers froze, yielded cables and power stations have been failures, reports Bloomberg.
From Greece to Hungary, hydroelectric production decreased due to temperatures that dropped below -20 degrees Celsius and, while portions of the Danube were completely covered by ice, according News.ro.
In Bulgaria, Romania and Serbia, residents of remote villages were evacuated because they were left without electricity or heat. Bulgaria has refused requests for emergency power supply from Greece and Turkey, following heavy snowfalls, said Tuesday the Bulgarian Minister of Energy, Temenuzka Petkova.
Authorities in Sofia were in turn rejected by Romania two days ago, while Greece has announced that it will stop electricity exports to Bulgaria from Wednesday noon.
"The market panics due to weather extremes. With all these feathers, people do not know what to expect, "said Tamas Migaly, energy trader at broker 42 Financial Services in Prague.
Energy prices jumped to unprecedented levels in Hungary, the spot price for immediate delivery climbed Tuesday to 200 euros per megawatt hour, showed Migaly.
Contracts in Serbia reached a record on Tuesday to about 150 euros per megawatt hour, said Milos Mladenovic, general manager of platform seepex in Belgrade. Ibex price of electricity market in Bulgaria has reached about 109.8 euros per megawatt hour.
According to MDA Weather Services, unusually cold weather will continue from Croatia to Turkey. Temperatures in the region are expected to reach next week on average -6.4 degrees Celsius, 6.8 degrees below average for the past 10 years, according to The Weather Company
About 23,000 households in Bulgaria were left without electricity, and the two largest ports in the country were closed due to difficult weather conditions. In Romania, about 14,000 households are isolated.
"The entire region is relatively dependent on hydroelectric plants, which produce far less as usual, while consumption increases," said Mladenovic.
Energy deficit in the region is amplified by shutting down some nuclear reactors. In Romania it was disconnected a 700 MW reactor of the Cernavoda plant after the storm damaged a power line.
Hungary, where several thermal plants had problems, plans to disconnect a reactor of the Paks plant for three days starting January 13.
In France, prices for electricity contracts with delivery next week rose to 99% on Tuesday and Wednesday 18%. In Hungary, energy prices with next day delivery of advanced Tuesday by 110%, to a record, according to data brokers.
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