Sundial of world news

The Nikkei gained 0.24% timidly, to 10,260 points by 6:15, after having opened Tuesday's session up 0.76% for the Nikkei 225. While the broader Topix slid into the red, falling 0.3% to 917 points. On Monday, the Nikkei had slipped 2.17% at 10,235 points amid concern vis-à-vis the euro.

In Hong Kong, the Hang Seng has put forward more than 0.21%, to 19,756 points and the Singapore Straits Times 0.04%, to 2834 points. In Shanghai, the Exchange has started doing the yo-yo, before anchoring in the red: -0.64% to 2697 points.

Monday evening, the finance ministers of the eurozone met to discuss the single currency, which lost nearly 20% since late November 2009 including 13.5% since 1 January.The euro is a "credible currency, said on Tuesday, Jean-Claude Juncker, the leader of Ministers of the euro area.

If this decline in European currencies could help grow the Old Continent, mechanically, through the principle of competitive devaluation, foreign companies suffer a cost of more expensive imports.

Against the yen, the euro down 0.44% and also score 114.7 yen. Levels for 2009 and … early 2002.

The Bank of Japan lends to 0.1%

The Bank of Japan (BoJ) has announced plans to lend money at preferential rates of 0.1%, the interest rate, to companies investing in growth areas, the newspaper Asahi.The central bank should decide in principle on the plan at a meeting of its Monetary Policy Committee this week, before details of the next month, the newspaper said.

This project would support modest growth in Japan low fee pay day loans. In addition to promoting growth, the BOJ has taken steps in recent months to try and halt the deflation that has raged for over a year: It has increased to 20,000 billion yen (174 billion euros) the allocation to provide loans to very low rates to banks.

Back to profit faster JAL

The first Japanese airline Japan Airlines (JAL), currently under judicial restructuring, has set a goal of finding operating income from fiscal year 2010-2011, a year earlier than expected, says Mainichi newspaper on Tuesday.And, thanks to a plan to revive its business that includes an operating profit target of several tens of billions of yen (several hundred million euros) for the current fiscal year.The titles do cotent over $ 0.01.

At the Shanghai Stock Exchange, what are the values of the aviation sector suffering most: China Eastern Airlines: -4.55% to 3.33 Hong Kong dollars despite an increase in traffic in April, China Southern Airlines -3.77%, 3.32 HKD.

Moreover, the Japanese steel companies Nippon Steel (-2.4% to 326 yen) and Argentine Ternium (-2.93% to 33.5 dollars a barrel Monday) announced Tuesday that it plans to invest $ 350 million in common two and a half years in a joint venture in Mexico to manufacture sheets for the automotive sector.

This site eventually produce the equivalent of 400,000 tons "of galvanized steel sheet of high quality and high-grade" for the automotive industry in Mexico, including the Japanese manufacturers on site.

The big annual event in the automotive industry held in Beijing until Sunday confirmed that the style and technology of Chinese cars are progressing well. The Citroen ZX for hire, Volkswagen Santana and other pale copies of Japanese sedans certainly live their last years of existence.

Great Wall, a great inspiration – Haval Under the label, the mark this year an unprecedented range of 4 ? 4 leisure. It is recognized in the models exhibited the features of the Volvo XC60, VW's Tiguan and the Mazda CX-7 or the Hyundai Tucson. The latter, renamed H6, is equipped with a 2-liter common rail turbo diesel and a 6-speed automatic transmission, like the original.

After the chaos of cancellations, the entanglements of compensation and reimbursement finally exhausted the patience of passengers. Among the 200,000 French stranded abroad at the height of paralysis of the aerial system, many are hoping today support at least part of the costs occasioned by delays or cancellations. To facilitate this, the Secretary of State for Tourism, Herv? Novelli, announced Monday the appointment of a mediator. But without doubt, the obstacle course is just beginning for those who have had their travel disrupted. At what rights can they claim, however? Airlines and tour operators are legally bound to compensate their passengers injured?

As regards the reimbursement of airfare, the situation is quite simple.The European airline passengers stranded abroad can count on the Brussels regulation, which imposes a clear obligation "to rerouting passengers in conditions similar transport and as soon as possible," except to reimburse their customers full Fast Cash advance loan. The standards at the start of the European Union are even stricter: in case of postponement or cancellation before the trip, are all airlines, including those who are not European, that are required reimburse or provide their flight. A right that the European Commission intends to enforce. The spokesman for Transport Commissioner Siim Kallas Friday, April 16 and encouraged the citizens to "assert their rights, even in exceptional circumstances such as these."

Commercial gesture

Photo credits: Le Figaro

From our Washington correspondent

General Motors (GM) hopes to return to profit this year. But, for the six months following its release from bankruptcy – that is to say the second half of 2009 – the American manufacturer said Wednesday losses of 4.3 billion. A deficit can be explained by the accounting impact of one-off payment of 2.6 billion dollars to fund medical expenses of its workers unionized. Losses in the second half to add 88 billion of accumulated losses reported by GM since 2005. Fallen giant, which reveals for the first time since its release its finances in bankruptcy, however, is reassuring in terms of "positive cash flow of one billion dollars."GM will release its 2010 first quarter results next month.

The largest U.S. auto also Wednesday renewed his promise to repay the U.S. Treasury $ 4.7 billion by next June. This is the outstanding amount of loans to support its radical reorganization and exit bankruptcy instant payday loan. But the bulk of 50 billion dollars of state aid to GM has been converted into shares. The Treasury, which holds 61% stake in the manufacturer, hopes that conditions will be reunited as quickly as possible to divest this anachronistic situation through a grant from the reintroduction Detroit giant."We have important work to achieve but we are building the foundations that we will be re-listed," said Chris Liddell, the new group finance director, Microsoft hired by GM's new boss, Ed Whitacre .

Moving faster than expected GM bankruptcy has eliminated most of its debts and reduce its cost of labor. If we do not consider brands that are being abandoned, like Pontiac, Hummer and Saturn, GM sales are recovering.

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About to change hands, the London department store Liberty has recovered dramatically last year. After ten years of losses, the Corporation generated positive operating income, while net income remains in the red (loss of5, 14 million pounds, or 5.71 million euros), due to debt and amortization important. The turnover, he flew 20%, A59, 6million pounds (66.26 million euros) in a context that difficult to eat.

Liberty is therefore in better shape, while its owner since 2000, the real estate magnate and hotel Richard Balfour-Lynn, announced in the middle of last year its intention to sell.

Among the candidates, the investment fund Capital BlueGem seems to hold the rope. Led by the former head of Merrill Lynch Global Private Equity, Marco Capello, he would have offered more than 40million euros.Much more than the other contenders, which include Robert Bensoussan, the former leader of the Jimmy Choo shoe, or the Chinese textile giant Li & Fung. Discussions in the home straight, could result in the month of April.

Liberty is a non-standard British heritage. En1875 Arthur Liberty opened his bazaar East India House on Regent Street between Piccadilly and Oxford Circus cash till payday. The Tudor style building is constructed from wood of two ships of the Royal Navy. This beautiful building has just been sold by a group Liberty Property German 46millions books, teaches becoming tenant of the premises. Inside the store, marked by a maze of elegant woodwork was redone last year.There is a sharp selection of fashion products, design and beauty.

"Avant-garde and accessible"

"We refocused on the cutting edge and accessible, with original designers not found elsewhere in order to rejuvenate our customers," says French of Geoffrey Labourdonnaye, former Christian Lacroix, who runs the company. This strategy of "renaissance" that he initiated continues to pay: he said the first quarter of 2010 shows trends "excellent", higher than last year. Liberty has refocused on its flagship store, after closing its Annex district of Knightsbridge. Moreover, the brand is known for its floral fabric that made the heyday of Cacharel, again in full in the trend. Sales of printed Liberty, which weigh one third of total revenue, surged DE23% in 2009.

2009, year of diet employees. According to figures from the Labor Department released Friday, wage growth was even lower in Q4 2009 than the previous quarter. The index of the basic monthly wage for all employees rose by 0.2% over the period against 0.4% in Q3. Worse, since the price index rises from his side of 0.4% is a loss of purchasing power be registered by the employees on the last three months of 2009.

On a year however, the employees recorded a slight increase in their purchasing power, increased the price index of 0.8% was not enough to cancel the increase of 1.9% of base salary. The Dares note that all sectors recorded an increase of wages in constant euros, although the increase over one year is more important in construction (+1.4) than in industry (1 point).The tertiary sector is in contrast to the average, with an increase of 1.1 points.

Figures released Friday by the Dares confirm that 2009 has been a particularly difficult year for salaries. According to the firm Mercier, increases in median compensation of executives ranged between 1.3 and 2%, 3%, the lowest figures in decades. And even if the recovery is the rendezvous, the year 2010 should not mark significant break, companies still keen to contain their wage bill.

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The unions make wages a priority for 2010

For sure, the case of reminders stuck with Toyota. The Japanese manufacturer, which is already subject to a sixty complaints from consumers in the United States must now respond to accusations of a U.S. attorney. Tony Rackauckas, Attorney of Orange County, south of Los Angeles has filed suit against Toyota on Friday night.

Toyota was aware

"We affirm the court on behalf of residents of Orange County, that Toyota has knowingly sold cars and trucks with defects responsible for sudden and uncontrollable acceleration of certain vehicles," he said. For the record, Toyota has recalled nearly nine million vehicles worldwide, including six million in the United States because of problems of uncontrolled acceleration and to a lesser extent, defective brakes.

The Prius, the hybrid model, which was the pride of Toyota, has been implicated.A case that forced the group's CEO, Akio Toyoda, to begin a round of apologies, first in the United States and then China. "I fear that the pace at which we developed could be too fast," he admitted before the Commission to monitor and reform the U.S. Congress last February 24.

On behalf of the "consumer protection"

For Tony Rackauckas, the California attorney, the meteoric rise of giant Nagoya is not the underlying problem. He said the acceleration defects affect "hundreds of thousands of vehicles sold in California in recent years." In addition, "Toyota knew these defects but intentionally concealed California consumers."Affirming that his complaint was "first brought to Toyota in the name of protecting consumers' Tony Rackauckas calls for a fine of $ 2,500 for" each violation of the law on unfair trade practices. "

For its part, Toyota has responded quickly. In a terse statement, the manufacturer provides "not having received the complaint" and therefore "not be able to comment on pending litigation." Despite these twists cascade, a survey published Friday by the marketing firm Corporate Research International (CRI) should reassure Toyota.

Customers, however faithful

Indeed, it appears that the group's U.S. customers remain loyal to him. "Only 6.5% of Toyota's current customers surveyed said they no longer buy Toyota because of reminders," concludes the study, conducted among 1640 people between February 19 and March 2.Same observation in Japan, where Toyota cartonne forever. The brand saw its sales increase in Japan in February from 47.9% a year to 146,145 vehicles, according to the Japan Auto Dealers (Jada).

"How to achieve its goal three months of sales? By becoming a vendor at Renault Samsung, "The joke circulating these days at the dealership in Seoul, during the lunch break. Their enthusiasm was due to booming sales of Korean-French manufacturer since early 2010.

A surge of 74.6% on the South Korean market in January (compared to last year), while exports registered a strong increase of 43.6%. This spectacular start due to the immediate success by winning the new SM5, the car manufacturer's flagship, launched last month. The third version of the sedan, developed from the chassis of the Laguna 3 sells like hotcakes and allows Renault Samsung to face the future with serenity.

"This is a key operation, the SM5 must ensure the future of the brand for five years," said CEO Jean-Marie Hurtig.

Image quality

Things seem to parties because these excellent figures confirm the good results registered by the manufacturer in 2009, world in crisis. Defying the pessimistic prognoses of its own troops, the Korean branch of Renault reported a 31% increase in sales last year, thanks to a South Korean market remained buoyant despite the international situation. Based on image quality, still up in surveys of consumers, the manufacturer has strengthened its position as the second group of Korea, at GM Daewoo. In the land of morning calm, Renault Samsung is the manufacturer that goes against the behemoth Hyundai-Kia, which controls nearly 80% market share.The success of the SM3 but also export the Koleos, an SUV of the year in China, enable the brand to address the global recovery with optimism.

Performance that also strengthen the position of the manufacturer within the Renault group. In 2009, South Korea became the third largest market for Renault (except Nissan) behind France and Germany. A spectacular leap from 9th place, a year earlier, made possible by the lowered sales in major markets like Turkey, Italy or Brazil.A breakthrough that allows the manufacturer to get rid of its image of Tom Thumb the group, which sticks to the skin from its takeover in 2000, on the verge of bankruptcy.

Logistically, Renault Samsung has also taken advantage of the crisis to increase its role in the alliance: taking advantage of the fall of the Korean won against the yen, the Pusan plant provides more and more parts to workshops Nissan, on the island of Kyushu. "Korea becomes competitive with China," said Jean-Marie Hurtig, who can also rely on the quality of South Korean engineers and a social climate less tense than in Hyundai and Ssangyong.

Only downside, the rise steeply from the Korean currency against the dollar and the euro, which threatens the competitive edge of exports.

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Economic Meeting Friday and Saturday in the Canadian North, while financial markets were concerned, particularly in Europe, the drift of their deficits, major fundraisers of the G7 (U.S., Canada, Japan, Germany, France, Italy and United Kingdom) maintain the cap. They pledge to continue their respective recovery plans. For its part, Europe will address itself the Greek case without recourse to the International Monetary Fund (IMF). Furthermore, a tentative agreement in sight to introduce taxation of international banks.

These are the three conclusions of the meeting of the G7 major fundraisers – Finance Ministers and Central Bank Governors – Iqaluit. A place almost inaccessible, forcing many ministers to use private jets.The Government of Canada wanted to reaffirm its sovereignty over the Arctic region.

An international taxation

As the host, Jim Flaherty, Canadian Finance Minister, was particularly prescriptive. The problem of Greece should be "managed by the European Union, not by the G7," he insisted to reporters while their European colleagues were reluctant to speak. As chairman of the Eurogroup Jean-Claude Juncker has formally denied the idea that Greece might need money from the International Monetary Fund. As for Jean-Claude Trichet, ECB president, he again expressed his confidence in Greece "to take all actions necessary" in order to reduce its deficit to 3% in 2012