peru image

PERU: Inflacion en abril 0.02%

Inflación en abril fue de 0.02%

en: http://peru21.pe/impresa/noticia/inflacion-abril-fue-apenas02/2009-05-02/245464

PERU: US$323 mllns. en 12 centros comerciales

Invertirán US$323 mllns. en 12 centros comerciales
Calculan que sus ventas crecerán un mínimo de 7% este año, después de avanzar 38% en 2008.

http://peru21.pe/impresa/noticia/invertiran-us323-mllns-12-centros-comerciales/2009-05-02/245467

Las ventas de automóviles en Japón caen en 28,6%, su peor nivel desde 1968

12:11 | Importantes marcas como Toyota y Nissan vendieron 32,5% y 39% menos en abril. Medidas tomadas por el gobierno para incrementar la demanda no surgen efecto

Tokio (EFE). El número de vehículos vendidos en Japón cayó un 28,6% en abril con relación al mismo mes del 2008, al nivel más bajo desde 1968 cuando se comenzó a registrar el indicador, anunció hoy la Asociación Japonesa de Vendedores de Automóviles.

En abril se vendieron 166.365 vehículos, frente a las 232.993 unidades de doce meses antes, con las reducciones más significativas en el apartado de turismos.

El dato de abril supone el noveno descenso consecutivo de las ventas de autobuses y camiones, debido a la contracción de la demanda por la situación económica de recesión que atraviesa Japón.

En opinión de los expertos consultados por la agencia local Kyodo, los recortes de impuestos para los vehículos de bajas emisiones no han podido contener la caída de la demanda.

POR MARCAS
Entre los fabricantes nipones de automóviles, tan sólo Honda y Daihatsu registraron aumentos interanuales de las ventas en abril, con un incremento del 4%, el primero en seis meses, para Honda y una subida del 23,4% para el segundo.

Toyota, el mayor fabricante de autos de Japón, redujo un 32,5% las ventas, hasta las 75.777 unidades, aunque los analistas esperan que se recupere con la presentación de su nuevo modelo híbrido “Prius” dentro de dos semanas.

Por su parte, Nissan vendió en abril 21.170 unidades, un 38,7% menos, el noveno descenso mensual consecutivo.

La venta de vehículos de transporte de pasajeros se redujo un 27,2% en tasa interanual, hasta 146.478 unidades, mientras que, dentro de este grupo, los autos familiares sufrieron una caída de 36,4% (57.714 unidades).

EURIBOR: EVOLUCION A ABRIL 2009

VER
http://www.lavanguardia.es/economia/index.html

usa: GMOTORS -33.7% APRIL

Las ventas de General Motors en Estados Unidos cayeron un 33,7% en abril

No obstante, en comparación con las venta de marzo, la demanda de sus vehículos aumentó un 11 por ciento, unos 16.600 automóviles

01/05/2009 | Actualizada a las 22:03h

Washington. (EFE).- Las ventas de General Motors (GM) en Estados Unidos durante el mes de abril cayeron un 33,7 por ciento tras la venta de 173.007 vehículos, frente a los 260.922 del mismo periodo del 2008.

Pero GM dijo que en comparación con las venta de marzo, la demanda de sus vehículos aumentó un 11 por ciento, unos 16.600 automóviles.

El fabricante estadounidense, que está luchando para evitar la quiebra, dijo que la cifras de los últimos meses apuntan a que la demanda se está estabilizando tras las fuertes caídas de finales del 2008.

"Desde un punto de vista de ventas a particulares, GM y el sector siguió en alrededor del mismo ritmo de ventas que en febrero y marzo. Lo que vemos es estabilización", afirmó a través de un comunicado Mark LaNeve, vicepresidente de GM para Ventas en Norteamérica.

LaNeve añadió que gracias a la gama de modelos del fabricante "estamos muy bien posicionados para cumplir esta creciente demanda de los consumidores en los próximos meses".

Por categorías, las ventas de autos de GM fueron 71.775 unidades, un 41 por ciento menos que hace un año. Las de camionetas (que incluyen todoterrenos, monovolúmenes, "pickup", furgonetas y camionetas) fueron 102.032 unidades, un 28 por ciento de reducción.

La empresa dijo que prevé producir en Norteamérica durante el segundo trimestre del año 390.000 vehículos, un 53 por ciento menos que en el mismo periodo del 2008.

CHRYSLER QUIEBRA-2

Chrysler Begins Voyage Down Bankruptcy Route

Katie Orlinsky for The New York Times

Thomas Lauria, front, who represents a committee of the secured creditors, didn’t raise any objections to various motions Friday.

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By ZACHERY KOUWE

Published: May 1, 2009

Deliberations on the fate of Chrysler shifted from Washington to a Manhattan courtroom on Friday as lawyers for the automaker sought to clear the way through bankruptcy, sell or transfer Chrysler’s operations, and keep paying its workers their salaries and benefits.

Multimedia

Chrysler Bankruptcy Filing

Katie Orlinsky for The New York Times

Ronald E. Kolka, the chief financial officer, leaving a hearing after the company began reorganization proceedings Friday at the United States Bankruptcy Court in Manhattan.

Chrysler, the third-largest American automaker, filed for bankruptcy on Thursday after months of negotiations with regulators, unions and creditors fell apart when a small group of debt- holders balked at the government’s final terms for an out-of-court restructuring.

Chrysler’s next steps toward settling with its creditors and completing an alliance with the automaker Fiat are taking place in the courtroom of Judge Arthur J. Gonzalez of United States Bankruptcy Court, who received a series of motions from Chrysler’s lawyers Friday morning.

In addition to asking to protect employee wages, which total about $60 million, and basically keep operating, lawyers sought to keep Chrysler’s warranties in place, an effort to reassure current and prospective customers they can still safely buy Chrysler and Jeep products. Lawyers for the automaker said they wanted to move quickly.

“I don’t think that any American can doubt these are extraordinary times,” said Corinne Ball of Jones Day, Chrysler’s lead bankruptcy lawyer. “We have to move at a high speed.” Chrysler’s 22 plants in the United States are to be idled at the end of the day Friday, Ms. Ball said.

As part of its reorganization, Chrysler said Friday that it planned to shut eight plants permanently, lay off about 6,500 workers and close an unspecified number of dealerships.

Judge Gonzalez granted Chrysler’s request to use its existing cash management system, which would enable the company to transfer money to other subsidiaries to keep operating.

Lawyers for various constituencies, including banks, car dealerships, hedge funds, parts makers and others have been working around the clock readying their arguments to make sure their interests are protected in court.

Thomas E. Lauria of the law firm White & Case, who represents a committee of the secured creditors, declined to comment to reporters and did not raise any objections to the motions at the hearing. It is still unclear whether the group, which includes Oaktree Capital Management, OppenheimerFunds, Stairway Capital Management, Schultze Asset Management, Group G Capital Partners and the TCW Group, will object to Chrysler’s restructuring plan at the continuation of the case next week.

The lenders, who say they believe they are being treated unfairly in the process, may request that Chrysler be liquidated. But, according to the company’s own analysis, a liquidation would cost more than $2 billion and there are unlikely to be many buyers for Chrysler’s assets.

More than a dozen photographers and television crews swarmed lawyers and others as they were leaving the courtroom after the hearing.

Chrysler’s chief financial officer, Ronald E. Kolka, and other executives quickly jumped into a minivan waiting outside the courthouse.

Ms. Ball and her team of lawyers from Jones Day attracted a swarm of reporters and photographers, who followed them down into a subway station after the hearing. As they stepped on the train, other riders began asking whether a celebrity had just come aboard.

Judge Gonzalez has experience with major bankruptcy cases, having overseen the reorganization of Enron in 2001, which set a record by filing for bankruptcy with $63 billion in assets, and WorldCom in 2002, which topped Enron with $107 billion assets when it filed.

Court documents filed by Chrysler in New York on Thursday showed that Chrysler’s re-emergence from bankruptcy could take until Aug. 28, or four months from now.

Bankruptcy always contains some element of unpredictability, and the debtholders who oppose the new arrangement could argue in court that the company is worth more to them in liquidation.

No light was shed at Friday’s hearing on how quickly the proceedings might play out.

Administration officials said they believed that it was highly unlikely that a bankruptcy court judge would side with the minority when those holding 70 percent of the debt had signed off on the arrangement.

Micheline Maynard and Jack Healy contributed rep

Produccion Mundial de Manufaturas dejó de descender

Un índice que publica JPMorgan que intenta rfeflejar el comportamiento
de la manufactura mundial sugiere que por el momento se ha estabilizado
la tasa de descenso de la producción mundial de este sector. Adjunto un
gráfico donde es posible coprobar esta tendencia. Este comportamiento es
típico en una crisis: después de un fase de descenso abrupto en el
producto, viene otra donde de etstabilización de la producción a un
nivel más bajo. De este comportamiento, sin embargo, no pueden dducir
otra cosa- En la misma figura, pueden apreciar como se comportó este
índice en la rcesión anterior. Este estabilización probablemnte es un
producto de la agresiva políca monetaria de Bernake que ha logrfado
cierta normalidad en los mercados de crèdito y no refleja aún el efecto
del paln fiscal de recuperación que ha anunciado Obama. Si no hay
nuevos probleas en le mercado financiero que puedan complicar aun mas
las cosas , pueden anticipar para los proximos meses una coyuntura
dominada por fuerzas contrapuestas. Las fuerzas que impulsan ujn
descenso en la producción son : la desinversión en inventarios, el
descenso en el empleo, y la caida en los flujjos de comercio
internacional. Las fuerzas que favorecen la recuperación: la
normalización en las condiciones de crfédito y el plan de estímulo
fiscal. Es probalementge que inicalmente haya una balance entgre las
fuerzas expansivas y dperesivas, pero conforme se ejecute el plan de
estimulo fiscal este balance , si la nueva adminsitgración democrata no
comete errores y no ccurren nuevos problemas en el sistema financiero,
que hacia fines del año, se inicie una nueva fase de ascenso. Para ver
lo que puede suceder en el Peru o en America Latina tienen que aplicar
un retardo que estimo entre 12 -18 meses.

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Los problemas del Citi

Worries over Citigroup mount

Wed Jan 14, 10:30 am ET

NEW YORK (Reuters) – Citigroup Inc shares tumbled Wednesday as investors and analysts worried about whether the bank can be profitable and function effectively as it unravels its business model.

The bank on Wednesday said it will report fourth-quarter results on January 16, six days earlier than originally planned. It is expected to post a multibillion-dollar loss.

Rival JPMorgan Chase & Co also moved up its earnings release six days and is due to report on Thursday.

Once the world's largest bank, Citigroup is expected to shrink by about a third as it focuses on corporate, investment and retail banking and trims its trading operations, a person familiar with the plan said.

Citigroup will also put businesses and assets it no longer wants into a separate structure with an eye toward eventual sales, the person said.

The disposals will mark an about-face for Chief Executive Vikram Pandit, who had endorsed retaining large parts of the "financial supermarket" created by former CEO Sanford "Sandy" Weill, who created Citigroup in a 1998 merger.

A drumbeat of analysts and investors has questioned whether Citigroup or market developments will give Pandit, who became chief executive in December 2007, time to finish the job.

Citigroup has received two lifelines from the U.S. Treasury Department's Troubled Asset Relief Program, getting $25 billion in October and $20 billion in November. The second infusion involved an agreement by the government to share in some losses, in exchange for preferred stock and warrants.

On Tuesday, Citigroup announced plans to combine its Smith Barney brokerage and other businesses with Morgan Stanley's wealth management unit, bolstering capital.

Morgan Stanley will pay $2.7 billion to Citigroup and take a 51 percent stake in the joint venture, with the ability to buy all of it after five years.

"There is no other way to view this move, in our opinion, than as a way for Citigroup to raise cash prior to its fourth-quarter earnings release," Oppenheimer & Co analyst Meredith Whitney wrote. She said she expects further asset sales or spinoffs as Citigroup's balance sheet losses mount.

But in tight credit markets, Citigroup's ability to spin off assets may be limited, and the bank is still exposed to a deteriorating economy that is expected to cause credit losses, such as in credit cards, to soar further.

David Trone, an analyst at Fox-Pitt Kelton, said major asset sales are "not even feasible" in this environment. He said the only option is to split Citigroup into separate, publicly-traded companies.

"By overhyping Citi's intentions, all today's reports will do, in our view, is establish false expectations in the market," he wrote. "When the market realizes that management has no intention or no ability to find buyers in any event, we see Citi's stock falling in disappointment."

Eight analysts who issued estimates in the last week forecast, on average, that Citigroup would report a fourth-quarter loss of $1.00 per share, according to Reuters Estimates.

In morning trading, Citigroup shares fell 82 cents, or 13.9 percent, to $5.08 on the New York Stock Exchange.

The annual cost of protecting $10 million of Citigroup debt against default for five years rose to $330,000 from $265,000 on Tuesday, according to Phoenix Partners Group.

(Reporting by Jonathan Stempel; Additional reporting by Dena Aubin and Dan Wilchins; editing by John Wallace)

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Let banks fail, says Nobel economist Joseph Stiglitz

The Government should allow every distressed bank to go bankrupt and set up a fresh banking system under temporary state control rather than cripple the country by propping up a corrupt edifice, according to Joseph Stiglitz, the Nobel Prize-winning economist.

By Ambrose Evans-Pritchard in Davos

Let banks fail, says Nobel economist Joseph Stiglitz

Professor Stiglitz, the former chair of the White House Council of Economic Advisers, told The Daily Telegraph that Britain should let the banks default on their vast foreign operations and start afresh with new set of healthy banks.

"The UK has been hit hard because the banks took on enormously large liabilities in foreign currencies. Should the British taxpayers have to lower their standard of living for 20 years to pay off mistakes that benefited a small elite?" he said.

"There is an argument for letting the banks go bust. It may cause turmoil but it will be a cheaper way to deal with this in the end. The British Parliament never offered a blanket guarantee for all liabilities and derivative positions of these banks," he said.

Mr Stiglitz said the Government should underwrite all deposits to protect the UK's domestic credit system and safeguard money markets that lubricate lending. It should use the skeletons of the old banks to build a healthier structure.

"The new banks will be more credible once they no longer have these liabilities on their back."

Mr Stiglitz said the City of London would survive the shock of such a default because it would uphold the principle of free market responsibility. "Counter-parties entered into voluntary agreements with the banks and they must accept the consequences," he said.

Such a drastic course of action would be fraught with difficulties and risks, however. It would leave healthy banks in an untenable position since they would have to compete for funds in the markets with state-run entities.

Mr Stiglitz's radical proposal is a "Chapter 11" scheme for households to allow them to bring their debts under control without having to go into bankruptcy. "Families matter just as much as firms. The US government can borrow at 1pc so why can't it lend directly to poor people for mortgages at 4pc. ," he said.

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