That stock News

Youku.com 161Pc jumped to $33.44 Wednesday, after completing a PIT 203 m $. He has recorded the largest rise since Beijing Baidu, China's most popular search engine owner, has more than quadrupled its offer in August 2005 after.

Chinese website colleague e-commerce China Dangdang - a bookseller online - acquired 87pc after his initial sale of 272 m $ on a positive day for businesses of the internet in the country.

Basis of Chicago Harris Private Bank, Chief Investment Officer Jack Ablin said Youku.com and China Dangdang "two companies that excite the imagination of investors", Bloomberg. "Intellectual property offices represent an intersection of China and the Internet, so everyone is jumping on board for this theme," he said.

Youku.com, whose name means "excellent and cool" sold m 15.85 American Depositary receipts for CDN $ each after offering 15.4 m for $9 to $ 11 each, show an SEC filing, and data from Bloomberg.

Market video online China has more than doubled, 621 m yuan (￡ 59 m last quarter, according to the research focused on the Beijing Analysys International company. Google YouTube, the world, the most popular video sharing site is blocked for China's internet users.

"The opportunity to market, especially in terms of consumption, is more obvious and continues to be robust," Victor Koo, founder and CEO of Youku.com, said. "This is something that is interesting and challenging many US investors".

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Treasury Board gave its final participation for $10. 5bn later Monday, profit of $6 85bn on the transaction. Including dividends, the U.S. taxpayer has realized a profit of $billion after the Government purchased the Bank to prevent its collapse.

Tim Massad, the Secretary of the U.S. financial, said stability as the sales offer Government the opportunity to "lock in substantial benefits for the taxpayer and avoid future risks".

Investors on Wall Street has welcomed displacement of the issue, which some have expressed the hypothesis could be pushed in 2011. The Treasury Board has been gradually sell 27pc its stake in Citi - acquired at the time where he converted $used money from bailout actions – in this year.

"Exit arrived earlier than expected, a quarter, and the property of the Government was one of the things holding investors return, we expect agreement is welcomed, and should buy some people expect pressing return on the market," said Glenn Schoor, an analyst at Nomura, who recommends that investors buy shares.

Mr. Schoor said Citi moves to float free 100pc and resumed his position in several major indices, followed by investors indexes will have to buy more than 450 m shares of the Bank.

CITI shares increased by 16 cents to $4.61, leading banking stocks.

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WASHINGTON--Consumer prices increased moderately in October, but there is little sign of inflation as the cost of cars, clothes and hotels.

Index of prices for increased consumption of 0.2% last month, the Ministry of labour declared, mainly due to rising gas prices.

But to the exclusion of volatile energy and food categories, the index has remained unchanged for the month of the third line right. In the past year, basic prices increased by only 0.6%, the smallest increase annual since the beginning of the index in 1957.

Americans more ignoring money Life.: doubled the number of Americans who check their finances, montre.Votre career research: digging a hole of career Life.: you can not fire me! I left!Life Inc.: College Presidents paid more

Weak economy keeps a lid on prix.Consommateurs facing high unemployment and slow wage growth, retaining their spending.Retailers and other companies do not want to risk losing frugal shoppers by raising prices.

The report provides support for recent moves of the Federal Reserve to stimulate the economy .the Central Bank said earlier this month buy 600 billion in Treasury bonds to reduce interest rates and encourage more borrowing and spending.

This decision was subject of criticism.Many economists Republican leaders said earlier this week that shares risk the Fed triggering runaway inflation.

But many economists said Wednesday report shows that inflation concerns are lost.

"Fears of a potential outbreak of inflation, the Fed's recent movements are heavily exaggerated and are completely out of sync with the reality of highly competitive markets... products and services, says Brian Bethune, an economist at IHS Global Insight.

The US Federal Reserve would like to see prices increase more quickly that they are currently .Lorsqu ' announced binding purchase program, the Central Bank said that inflation is "a little low" at the levels it considers compatible with price stability.

While flat price may seem like a good thing for the buyers, the US Federal Reserve wants to prevent deflation, a widespread and debilitating lower prices and the salaires.Déflation also erodes the value of houses and other assets and makes it more difficult to pay off debts.The United States has not encountered with deflation since the great depression in the 1930s.

"For the moment, data continues to show that the price decreases, not increased, is the concern of the day," Dan Greenhaus, Chief economic strategist at Miller Tabak, said in a note to clients.

There are signs that the base price index can fresh stabiliser.Les housing, which represents more than 40% of the total index rose 0.1% month last .c ' is the first increase since July and only the second this fresh année.Les housing fell 0.2 percent last year.

Increase in last month's accommodation costs was offset by lower prices for cars, clothing and recreation, including cable TV and other video services, toys and sports equipment.

Food prices rose slightly in October, the Department déclaré.Le cost of fruit and vegetables and cereals and bakery products fell while meat products dairy and egg prices.

? 2010 The Associated rights Press.Tous réservés.Ce hardware cannot be published, broadcast, rewritten or redistributed.

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WASHINGTON--Consumer prices increased moderately in October, but there is little sign of inflation as the cost of cars, clothes and hotels.

Index of prices for increased consumption of 0.2% last month, the Ministry of labour declared, mainly due to rising gas prices.

But to the exclusion of volatile energy and food categories, the index has remained unchanged for the month of the third line right. In the past year, basic prices increased by only 0.6%, the smallest increase annual since the beginning of the index in 1957.

Americans more ignoring money Life.: doubled the number of Americans who check their finances, montre.Votre career research: digging a hole of career Life.: you can not fire me! I left!Life Inc.: College Presidents paid more

Weak economy keeps a lid on prix.Consommateurs facing high unemployment and slow wage growth, retaining their spending.Retailers and other companies do not want to risk losing frugal shoppers by raising prices.

The report provides support for recent moves of the Federal Reserve to stimulate the economy .the Central Bank said earlier this month buy 600 billion in Treasury bonds to reduce interest rates and encourage more borrowing and spending.

This decision was subject of criticism.Many economists Republican leaders said earlier this week that shares risk the Fed triggering runaway inflation.

But many economists said Wednesday report shows that inflation concerns are lost.

"Fears of a potential outbreak of inflation, the Fed's recent movements are heavily exaggerated and are completely out of sync with the reality of highly competitive markets... products and services, says Brian Bethune, an economist at IHS Global Insight.

The US Federal Reserve would like to see prices increase more quickly that they are currently .Lorsqu ' announced binding purchase program, the Central Bank said that inflation is "a little low" at the levels it considers compatible with price stability.

While flat price may seem like a good thing for the buyers, the US Federal Reserve wants to prevent deflation, a widespread and debilitating lower prices and the salaires.Déflation also erodes the value of houses and other assets and makes it more difficult to pay off debts.The United States has not encountered with deflation since the great depression in the 1930s.

"For the moment, data continues to show that the price decreases, not increased, is the concern of the day," Dan Greenhaus, Chief economic strategist at Miller Tabak, said in a note to clients.

There are signs that the base price index can fresh stabiliser.Les housing, which represents more than 40% of the total index rose 0.1% month last .c ' is the first increase since July and only the second this fresh année.Les housing fell 0.2 percent last year.

Increase in last month's accommodation costs was offset by lower prices for cars, clothing and recreation, including cable TV and other video services, toys and sports equipment.

Food prices rose slightly in October, the Department déclaré.Le cost of fruit and vegetables and cereals and bakery products fell while meat products dairy and egg prices.

? 2010 The Associated rights Press.Tous réservés.Ce hardware cannot be published, broadcast, rewritten or redistributed.

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The United States had hoped that China would use Summit G20 in Seoul to accept the proposal of America net exporters should limit their current account surpluses to 4pc GDP. Perspective of which is now gone.

In the wake of the Federal Reserve QE2 Announces rather suitable measures that would relieve pressure on the US economy, China gave the States a tongue - lashing .Mesures Cape surplus trade audience would "are reminiscent of the days of the planned economy", said Cui Tiankai, which will be one of the negotiators of lead from China to Seoul.

"We believe a discussion on a misses have target account current exactly, not least because if you look at the world economy, there are many questions that deserves more attention - such as the quantitative easing".

Germany also discussed at length in the language of the industry to describe the recent decision of the Federal Reserve power."With all respect, US policy is disabled,", pointed out the Finance Minister, Wolfgang Sch?uble.

"Isn't that the Americans were not pumped enough liquidity in the market for them now even more than the pump will not solve their problems."

The Fed plan to extend QE $600bn (￡ 370bn), $ 1 cost already put in place, caused the diplomatic fur fly - Thailand Australia .a South Africa, a key emerging powerful member of the g-20 market block official statement said America was "undermined the spirit of multilateral cooperation that G20 leaders have fought so hard to maintain.

Until now, the rest of the world has been willing to tolerate unprecedented United States - money-printing and in this égard.QE United Kingdom was used to assist financial institutions to avoid facing their losses, while recapitalising secretly Western banks are, for all intent and purposes, insolvent.Money-printing also inflated the last Fed induced "sugar rush" of bourse.Après, global FTSE all share index reaches a maximum of two years.

With the silver EQ used for the purchase of bills and gilts, as well as questionable mortgage-backed securities, it has also allowed Governments to maintain expenses.

Who cares if the yields on sovereign ious were artificially depressed (for the moment) by the weight of the newly created money.Implementation of spending reductions is much, much harder that announcing a tax "Keynesian" another boost

Therefore, in other words, the EQ has received enough great interest - groups insolvent banks, public sector unions and politicians laches.Pas surprising that critics have long policy we have dismissed as 'inflation nutters' and 'cranks '.

But in recent weeks, something a changé.Gros players such as China, Brazil - and Germany think too - the United States has gone too far and are now saying.

Their patience was broken, taking into account the negative impact a large scope of QE beyond of the coasts of America. "Even if everyone wants the US economy to recover, "said Guido Mantega, the Minister of Finance of highly respected Brazil"it does no good to throw $ helicopter.""

In a newspaper article, Xia Bin, an advisor to long long date at the Central Bank of China, last week referred to unbridled $ as a "great risk" printing in the global economy. ""As long as the world exerts no restraint in issuing $ then the appearance of another crisis is inevitable, as some wise Westerners complain" he wrote.

With fears that the Fed blows yet another award asset bubbles, that lead to a damaging will drop, stands of America charged (rightly) EQ artificially depress the dollar, so unfairly boost exports to the detriment of those of other u.s. including euro.Dans area using the same time, a lower u.s. dollar also reduces the real value of the enormous debt that America must rest of the world - not less Chinese.

In the here and now, emerging wholesale markets are particularly concerned that dollar debasement means their own currency to take on the status of "shelter", pushing even further, so most undermining their exportations.Brésil has already imposed controls on capital, although entendu.Et QE2, answering a string of Asian central banks expressed preparing measures to defend their country against large flows of capital.

This is not how liberal capitalism and free trade is supposed to travailler.Et, while it pains me, the main cause of this new eruption of economic dirigisme and conflicts, distortions and injustices that will inevitably produce, is the America. rather than to deal with its problems, and with them, American politicians require these problems on the rest of the world.

Now President Obama took a bite in the U.S. mi-termes, it can become even more desperate, which means that ve could extend once again, beyond this $600bn extra.

Although the negative impact of EQ in the United States has so far been felt largely in terms of competitiveness of exports and the appreciation of the currency, the policy has begun to impose much more visible "collateral damage".

Some of us were guard long printing mass money cause global to seek refuge in tangible capital assets - investors produced no less.

Many events come now pass.

New York, prices of oil reached only $87 per barrel – a maximum of two years - even if the US economy, the largest consumer of crude oil in the world, remains low.

In the past week, the inevitability of EQ- and perhaps still more EQ - a trained the curve term any oil shunt upwards, as investors bet on inflation more and more the dollar falls.

Oil exporters OPEC cartel fanned the flames, but crude price hike has been long time coming and derives from virtual press printing the Fed.

Gold broke just yet another record record - reaching $1,394 an ounce.

Pink 6pc last week in silver and is now in a maximum of 30 years.

Apart from precious metals, the nightmare is that QE causes an increase in the price of commodities and other inputs required to maintain the operation of the Western world - active investors such as "an anti-debasement coverage."

There are signs that this starts to happen more than the crude oil markets.

Since August, when the prospect more Fed QE became real, cotton prices are 68pc sugar prices have increased 66pc, rice is a third party.

This is why QE will be blamed for many "unfair" more currency devaluations and imposing a "soft default" America's creditors.

This printing money madness will be considered as the main cause of inflation, food riots and a boom in commodity prices.

This policy, in my view, is nothing less than "Suez economic America."

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WASHINGTON — Republican Representative Ron Paul Thursday said he will push to examine the decisions of the Federal Reserve monetary policy if it takes control of Subcommittee of Congress who oversees the Central Bank as planned in January.

"I think they are too much indépendants.Ils should not enough power,"Paul, a criticism for a long time the Fed said in an interview with Reuters.""

Paul is currently the top Republican page on the Subcommittee of the House Financial Services Committee oversees the domestic monetary policy and is probably at the head of the Commission when Republicans took control of the House of representatives in January.

That could create a giant headache of the Fed, which earlier this year affirmed offshore effort led by Paul opening its internal deliberations on rates of interest and monetary easing a scrutiny of the Congress.

Paul was also a fierce critic of the efforts of the Central Bank to boost the economy by monetary policy.

"It is outrageous, what is happening and the Congress more or less did not say much about it," he said.

Paul said that the Subcommittee would also push to examine the reserves of the country and to highlight the views of economists who believe that economic slowdowns caused by bad monetary policy, not the whims of the free market.

Copyright 2010 Thomson Reuters.Cliquez on restrictions.

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The Obama punishment will be little if any difference in the mess, the US economy is and is in any case a sideshow against the most recent political initiative of high risk that the FED is visiting on an already battered nation. Parliament Hill can act, but the Fed is always ready and willing to the roulette wheel.

The 600bn costs $ (￡ 372bn) infusion of quantitative easing was announced Wednesday may or may not provide a lift for domestic demand beleaguered - Goldman Sachs and HSBC have said much more is needed to escape the trap of liquidity - a real or imagined but one thing, there is certainly more corrupt the monnaie.Jamais before the dollar hegemony has so much under threat.

By flooding the economy with more freshly churned $, America has also undermines confidence in the greenback as a store globally reliable value and is wasting asset economic and geopolitical of enormous importance to the nation's history.

Reserve currency status means the dollar's strength that America can borrow at will be in its own currency in the rest of the world and at favorable rates for démarrer.Ce privilege is either recklessly thrown.Whenever the Fed prints more money to fight domestic recession, it devalues further this lending dette.Les naturally receive agitated.

Now becoming progressively more apparent, the dollar hegemony has been main underlying causes of the crisis, it has allowed America to go on a binge borrowing unsuccessful;in the developing world is more strongly suggests its share of the disappearance of the solution.

The US Federal Reserve took a solid bet with long-term future by blindly pursuing monetary; stimulation America may take time, but very powerful reign the dollar's strength on the world stage is nearing completion.

And they ask why U.S. company remains in a State of shock paralysé.Politique seems hell bent destruction.

For the defence of the Obama, it is usually said that economic inheritance that he inherited is so toxic that it was never likely to be easily fixed, and there is no doubt much truth in this statement.

But rather to concentrate as a lazer on economic disaster unfolding before him, Obama instead started a very ambitious, disruptive and divisive legislative programme succeeded only in round more uncertainty about already undermined economic confidence.

Never more mountainous debt was sufficiently deterrent step to investment and trade, the disorder of futile reform emerging from the White House would have more faithful even fear us investors into inaction.

Stripped of its political authority, Mr. Obama can only seek desperately as newly enthusiastic "Red" reflex the sinews of war and health reform financière.Dur won at of political cost and fatal economic, a large part of the legislative programme of the President might finish castrated to death.

A Republican House can overturn these bills, who have already passed into law, but it can make toothless influencing small print and more importantly, refusing to fund their. ""Defunding" Act of Obama easily justifies in the pursuit of small at that Republican State aspire.

Unfortunately, the Republican opposition seems devoid of a credible plan to deliver public debt on a sustainable footing as .the White House ' political deadlock makes more unlikely one will soon find, any moment.Toute correction in the long term requires a combination of tax increases, régimes de retraite et d'assurance - maladie it reform has no cross party support for one of these things.

The political class has no strategy for restoring how friendly growth, debt while the blunt ultra political money loose handed in permanent international dollar question and, consequently, the ability of the nation to refinance itself.

Larry Summers - depart as President in January – as this economic Advisor: "for how long", he asks, "" can top page borrower world carry high power page world? ""This is a good question.

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The founder of the private company Terra Firma seeks represents up to $ (￡ 4 36bn) damages against the American Bank, claiming that it was wrong to pay too much for the company EMI Music in 2007. CITI rejects the allegations.

However, the judge Jed Rakoff threw a method of calculation of financial injury called "lost profits", which used Terra them Firma to request up to 6 $billion dommages.La method used by Marianne DeMario, Terra Firma, expert witness examined the return of Mr. hands on previous investments and calculated yield similar on money he EMI.

Explaining his decision, judge Rakoff said: "I believe that it is speculative and I also believe that the methodology is really wrong.I had many problems with sound by using the historical rate of return for a period of boom that Terra Firma. ?

5.3 ￡ 4 For one of the most historic names industry selling music only a few weeks before the striking of the financial crisis, ending in a frenzy of transactions which has generated millions of pounds for Wall Street banks.The trial in a courtroom in Manhattan, is a high profile emerging crisis debris.

Citigroup will always held to pay damages of approximately $issuers if the Board decides in favour of Terra Firma after judge Rakoff said allow another method of calculation of damages proposed by Ms DeMario.Ce system based on an estimate of the difference between that Terra Firma paid for EMI and the value of music in May 2007 with discounted cash - flow company a way of valuing companies used by capital investment privé.Les lawyers of the CITI companies argued that figure should be calculated using EMI before the beginning of the bid speculation stock prices.

Judge Rakoff ruled that "a reasonable jury could find that the methodology proposed by the defense is preferable, but it is for me a jury question, not a question from the Court."

Trial run for two weeks and is expected to last longer.

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Questor says HOLD

Third quarter results yesterday of British American Tobacco is arrived below the expectations of the market, as volumes declined by 526bn 1pc batons.Les volumes have increased in Asia - but fell around elsewhere.

"Difficult economic conditions, excise duties and high unemployment rate-based price increases led to a softening of our volumes," said Paul Adams, Chief Executive. "Impact of the recession on consumers is still with us and shows no sign of abating."

There are even accelerated group four main brands - Dunhill, Lucky Strike, Kent and Pall Mall - with 8pc growth.However, some was to Japanese customers in advance of an increase in duty storage.

The shares are trading on December 2010 multiple 13.8 times earnings, falling to 12.6 year prochaine.Le current performance is 4.7pc.Il comes from a peer regarding premium Imperial, which trades
on a multiple September 2011
10.3 times.

Shares were initially recommended as income play ￡ 21.79 26 February this year and they are now compared 10pc in advance with the FTSE 100, which is 6pc.

Actions now are a hold down to rally the slowdown, but the looks rock solid dividend.

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The shock of ￡ represents a titans will be Guy Hands of Terra Firma testifying against his former advisor and friend, Citi deal-maker David Wormsley. It will be alleges that Mr. Wormsley deceived her term until of Terra Firma ￡ 4 5.3 EMI acquired in May 2007 a selling price artificially inflated, giving rise to a claim strongly denied by Citigroup.

Despite the bitter conflict between the two parties, Sunday night that he was still a glimmer of hope an agreement could be struck on the steps in the courtroom that avoid a costly trial and damaging reputationally.

Reports for detailed proposals developed by Mr. hands and Terra Firma weekend that would see Citigroup cancel almost ￡ emitting its loan of ￡ 3 EMI in exchange for participation equity in the company.

In return, Terra Firma likely to EMI equity injection of approximately ￡ billion, with the help of investors such as Canada pension, or break the company selling the music publishing arm.

It is believed that Terra Firma seek ￡ represents the loss of profits, compensation and damages.

A large part of the case is likely to hinge on the testimony of Mr. it hands will be allege that in telephone conversations the weekend prior to its submission for EMI, M. Wormsley him home rival capital that Cerberus was also shortlisted for the label.He will tell the incorrect information has led to a value artificially inflated for the company.

New York Monday courtroom procedure will begin with the selection of six jurés.Témoins Terra Firma will be then called with Guy Hands likely testify first.Witnesses to Terra Firma will also include Tim Pryce, Chief Executive of Terra Firma and Riaz Punja, the man who led the acquisition of Terra Firma.

After as a week of testimony and cross-examination, Citi calls his witnesses, directed by David Wormsley.Lui and Mr. hands are understood to have spent the last few days in New York to prepare test with their legal teams.

Purchase of Terra Firma de EMI, which includes the Lily Allen and Robbie Williams among artists, was at the height of the marché.Citigroup informed EMI and Terra Firma on the agreement as well as finance the debt.

In March, EMI has violated banking covenants on the mountain of debt of ￡ 5.3 3 provided by Citigroup.Il is now facing the prospect of finding millions of pounds of new shares to refinance company. above the company has recently accepted a 197 m ￡, a multi-year to connect its deficit pension agreement.

With so much at stake and the potential for damage claims out at trial, it is believed highly unlikely case that runs the full two weeks.

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Now spending cuts are underway, same BoomTown Rats are grinding. Sir Bob Geldof awoke yesterday to find not one but ten Alps on the slide. Shares of TV production company, he founded fondue by close to a third party.

The reason? No global warming, but the decision to axe 10 million pounds per year of the Alps to teachers TV contract. You have to hand it to George and the boys. They are targeting a sense of humor.Has not been Sir Bob big star The Wall, Pink Floyd yawn-by-minute film famous line: "We do not need education"? Fort while it is for his fans, we have much unnecessary teachers TV either.

Indeed, if magically expenditure reductions may be restricted only to such things, we detect heard moins.Bien, there are more acute economic pain to come - since the end of universal children and cuts in tax relief for pension benefit already shown. However, is really was going to miss the Union modernisation Fund Supervisory Board, the Advisory Council on libraries or the Hearing Aid Council?

Cuts, unveiled Wednesday, go wrong. But the big question of the economy is combien.Le Government is already dropping advice will seek to minimize the impact on the "most vulnerable in society" and publicly - the country of Wales, Northeastern and Northern Ireland terribly dependent regions.

In addition, the word "cuts" is something mal.Darren Winder to Oriel Securities said yesterday, in nominal terms expenditure is positioned to achieve from ￡ 640bn in 2011-2012 ￡ 659bn in 2014 - 15 - adjustment for the Government, which represents a 83bn inflation expectations ￡ Coupe.

Even if, as the Centre for policy studies related to this week, back to the turn of the Millennium, the Government has been spent ￡ 343bn - a sum which would have increased from only ￡ 450bn in 2009-2010 if labour expenditures had simply associated inflation. In other words, even after "reductions", Great Britain still spend a genuine ￡ 200bn over 15 years draconian avant.Comment is it?

We are going to jobs in the sector public.Mais, spread over five years, reductions can reduce the growth of GDP by more than 0 5pc per year, which seems to be manageable.Not least when considering the health of British companies.UK plc was out of the recession, not with the traditional deficit, but a company - surplus profits after investment - from ￡ 67bn.

Despite cuts, companies have the firepower to invest and to hire staff.If it is sufficient to take over 500,000 public sector employment had predicted losses is a moot point.But Winder is far from being the one economist who is optimistic on this point.

A greater threat to the UK economy is a pet: more economic woes America .Presque 1 in 10 Americans are now work - a figure who is afraid of Federal Reserve Chairman Ben Bernanke dropping great advice on additional flexibilities set quantitative .Lorsqu ' a new sailing for QE2 - thy-neighbour mendicant aka - dollar devaluation led us all is much more difficult to say.

It copies may not be best option either - Great Britain since, unlike in America, inflation here is more magical 3pc.Argent topping may raise interest rates élevés.Et hurt vraiment.Ou as Bob in the song: "" OH oh oh whoa whoa. ""

Alistair.Osborne@Telegraph.co.UK

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I don't want to disparage the difficulties encountered by some Nations to eurozone peripheral, but the scale of things, they are a sideshow alongside the unease which had settled on the largest economy in the world.

Ignoring the troubled fringe, Europe is almost universal surprise starts to look in reasonable shape again, and for reasons that I shall come, European are in any case not nearly as obsession by high unemployment as their American counterparts.

What applies to the euro area is also true of the United Kingdom.As in Europe, the dominant issue in the United Kingdom policy is not unemployment but publique.Il debt has a real and growing, the fracture of the trans-Atlantic perceptions and rhetoric.And with good reason.

Europe has a much deeper than United States - economic contraction the strangely enough, in the may, given that the crisis originated from United States - but unemployment is not nearly as steep climb in the economies of the euro area is now down to nouveau.En Germany, unemployment is already at the previous levels.

Even at United Kingdom, it has been so far relatively rich employment recovery, supported by a reasonably robust levy in manufacturing and investment.For us, things are not bad that suggest the American doomsayers.

Heathrow experienced record levels of freight traffic and passengers last month, according to new figures of ABA and marker key return business confidence, Prime traffic is also more encore.Cela coincides with what said UK bankers IMF meeting in Washington last week.

One year from the same event, always trying to convince each other that they were still solvent.This year, new mandates are thrown around like confetti, and many interbank litigation crisis period are now be resolved.

Why America has failed to respond also positively is still not entirely clear, but continued internal deep recession building and other forms of private construction is of course a part of it.These sectors have historically been a greater proportion of employment in the UK and Europe and begin to recover that stabilize prices and unsold stocks is disabled.

House prices collapse means cannot sell and move towards regions economically strongest in the country, as they tend to in past downturns. Top u.s. unemployment - already at 9 7pc and getting to double that on some broader measures — is more rooted.

If there is one thing the crisis has reminded politicians is that they should really be run surpluses during good moments.Entrer slowdown, the Germany was better prepared than the United States and thus proved more resilient.

Whatever the explanation, realization that there may be a structural problem of unemployment in the cyclic United States came as a rude awakening to a country on the merits of hard work and entrepreneurship.

U.S. forecasts of the Treasury, for growth and public finances, both continue to be based on optimistic delusionally use of the Zarnowitz rule, which says that deep recessions are followed by steep Collections.Unfortunately, this is not the case this time.

These harsh economic realities have combined doggedly cycle policy U.S. to produce a tsunami of creative applications politique.Il is not just experience of the great depression which instructs us terror of unemployment.Very limited unemployment allowances are the pain of mass and prolonged unemployment very real indeed, another difference key with Europe.

Serious losses for Democrats in the mid-terms are already pre-cooked.If there are no solutions for the next year, the administration may in despair far more populist measures.

Reprisals against China or other "manipulative money" are probably serve U.S. job much, but that won't deter a President who sees his chances of a second descent into the poêle.Il term would however sow chaos in China by depriving millions of their employment.

China's economy is only one-fifth the size of the United States and its consumption less huitième.Même assuming that other Asian exporters are also punished, devaluation tariffs and import of currency are not going to solve the problem of U.S. unemployment.

So what remains? the Fed be pouring more money into the economy (QE2), but Hill is challenging second paralysée.Un tax of any size is blocked by the division more monetary politique.Stimulus is all very well, but it is a blunt struggles to go to the creative use of economy - small and medium-sized enterprises - bits and the threat of a new bubble markets emerging abundent liquidity prosecution performance.

There is no political appetite or commitment to the right long-term reform and increased taxes necessary to curb the déficit.Personne United States believes that Treasury Board provides that public debt will be stabilized by 2014.beaucoup more credible are IMF estimates see gross us debt amounting to many more 110pc GDP by 2015.

The United States has no strategy for the unemployed and strategy for the restoration of debt does not ' is hardly surprising that sense renewed the gloom has settled on international decision-makers.

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Bank of America last week broke seized throughout the country include allegations that houses come before based on data that have not been properly verified and crossed too quickly process. JPMorgan Chase and financial Ally suspended entered in 23 States to treat similar allegations.

Suspensions have prompted calls from politicians for a national suspension until the locking process has been fully investigated.This request has led the wrath of those in the market of housing, where sales of houses seized currently account for about a quarter of all sales, according to RealtyTrac .the ' company, which tracks the housing market, said that banks entered the 95,364 houses in the month of August and that it has issued homeowners 338,863 foreclosure filings.

"It would be to impose a moratorium on all system-wide catatastrophic seizures and such actions could damage the market of housing and the economy,"Tim Ryan, Chairman of the securities industry and financial markets Association has said Monday. "Experts say that concerns on property titles of ownership of houses seized are unlikely to the surface until the lender has found a new buyer for the property.

JPMorgan has begun to "systematic review" thousands of deposits for seizures, said that the documents were prepared by approprié.Le Committee staff Senate banks said that it will hold a hearing on seizures after the midterm elections.

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JP Morgan Chase begins a critical reporting season for banks which will have less money in the pot Wall Street bonuses as profits slide.

The Bank American, which fared better most since the beginning of the financial crisis, is scheduled to report third quarter $3 8bn (￡ 2 support), or 90 cents per share earnings Wednesday, compared to $8bn analysts or $1.09 a share in the second quarter.

Summer has proved difficult for commercial banks on both sides of the Atlantic as the deepening uncertainty on reduced global recovery investor risk appetite divisions.

Trade volumes is equity and bond markets fell in the quarter, while the lucrative rights of mergers and acquisitions should also fell. Completed mergers declined 14pc in the second quarter, according to the company research, Dealogic. Meanwhile, increased sales of business liaison, banks handle, it is planned to have helped offset a sharp drop in the costs generated by helping companies to sell shares.

"Await us third-quarter results will be marked by generally lower levels of customer flow and a large slowdown in levels of activity," said Howard Chen of Credit Switzerland.Who will smite the premiums paid to banks and retailers.For example, Mr. Chen provides that Goldman Sachs to set aside $3 taken as compensation for the quarter, compared to $3 8bn in the quarter précédent.Morgan Stanley, should also, by Mr. Chen reduce his total earnings for the period from 15pc $3 United.

Net profit banking recovery and the return of premiums bumper to stir public opinion and the United States the United Kingdom last year.But with the wind of the equity market rally already fade, prospects for Central Wall Street lies largely with the question of whether a recovery of the economy American can be relaunched the FileSystemWatcher Wall Street shot to fame in component correctly according to Jason Goldberg, an analyst at Barclays Capital.Certains, including Meredith Whitney - crisis Citigroup are already predicting a new wave of job cuts in 2007 - that banks are obliged to reduce.

As well as the size of Wall Street bonuses, investors are hungry information Bank of America, Citigroup and JPMorgan Chase on two issues critical for the next 12 months for banks and the wider economy: is there is the appetite for companies to borrow and the impact of the new financial regulation.

Brian Moynihan, CEO of Bank of America, said that its large customer to 30pc just of revolving credit facilities compared to the 40pc when the economy is growing faster.

Richard Ramsden, which follows the American banks Goldman in New York, stated that "the face of banks headwind long-term more large continuous CAU withdrawal".Peu expect demand for loans companies recover until the US labor market is.

Whereas the agreement Basel III on the new capital requirements was allowed, how regulators will be implementing Act Dodd-Frank - the Act on financial reform signed into law this summer - remains a cloud over the banks.

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Despite a crisis financial in Europe which is dragging stock less day after day, European stocks are enthusiastic buyers among a group unlikely: American fund managers.
This is the clear impression of the Morningstar Investment Conference, an annual meeting in Chicago of 1,350 financial advisers, fund managers and other benefits to invest.
June 24, the second day of the Conference for three days, the Dax index, a measure of the German Stock Exchange fell to 1.4% and Euro Stoxx 50 index covering 50 stocks from everywhere in Europe, fell by 2.2%, closer to its loss for the year to date a 10.8% negative.
But also on 24 June, fund managers worldwide stock have been extolling the virtues of European actions in the group discussions.
The common theme of these investors: problems in Europe are serious, but the stock market has reacted and many European stocks sell at amazing discounts.
"What is happening in Europe is a major concern," said Franklin Mutual series Portfolio Manager Philippe Brugere-Trelat, and is the main reason of stock markets in Europe are less expensive.?
But, he said at a round table on "sample stock anywhere in the world": many companies headquartered in Europe are "European any" in the sense that a large portion of their sales and earnings come from outside of the continent.
Moreover, the weaker euro gives a big advantage to European companies sales outside Europe. ""Euro 1,20 $ is a very large icing on the cake in terms of revenues and sales", said Brugere Trelat.The euro, on 24 June rated $1.23, 13.9% since the beginning of 2010.
Another table round, artisan partners Portfolio Manager Mark Yockey admitted it has relatively high exposure to European stocks - especially for financial matters that may be more vulnerable to the debt problems.
However, he said, many European banks are like operations, ING is one of three leading banks in one oligopoly which gives ING Netherlands and other similarly situated further strength and power of the tenacity of the banks. ""We believe once things settle down they will increase their earnings", he said.
Another speaker and Manager of foreigners on the same panel, Manager portfolio Janus Capital Management Brent Lynn, said he has a relatively weak in Europe exhibition but is ready to start buying stocks.
"We have more persuasive assessments in Europe that I have seen in a number of years," said it .the sovereign debt problems make "concerned... but intrigued by the prospect to buy high-quality companies" at cheap prices.
Agreements are so good that Lynn stated that it planned to purchase nationally based banks Italy and Spain, two European Nations are more objective endettées.Ses "franchises that we believe will be survivors."
If investors are convinced that Europe stock slide was too far, this could be the ideal time for acheter.étendre this logic, continuous slide market means that European stocks could be an even better deal in the future.
Referring to this, Yockey won an audience laugh when he said: "' opportunities are better and better every day."

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