Monday, November 17, 2008

Adolfo Dominguez invests 20 million in Val da Rabeda to create 160 jobs

"The beauty is profitable." The designer and businessman Adolfo Dominguez yesterday coined another aphorism to explain the project that has led him "in very turbulent times" to buy one million square meter industrial park in the Val da Rabeda to move there all their logistics warehouses, workshops and departments of R & D. The news on other websites Websites in Spanish in other languages The vice president framed the project in the "economy with roots" Flanked by conselleira of Housing, Teresa Táboas, and the vice president of the Xunta, Anxo Quintana, drivers of industrial macropolígono that will occupy four million square meters, Dominguez explained the philosophy of his "exemplary action". "I want to adapt the architecture to the ground, not cutting down a single tree and do just as well, not better, that Anxo Quintana and his successors in Allariz," said Dominguez, from the "credibility" that gives it "does not have a reputation of nationalistic" . The employer avoided specific deadlines for this ambitious project. Only said that it will slowly with its "own" and ventured that "in ten years or sooner," all of its workshops and warehouses will be concentrated in this forest. Dominguez gloss effectiveness of the nationalist wing of the bipartisan: "It was them, and Táboas Quintana, who made possible this project that started many years ago to negotiate with the previous administration and now it will be possible and will become a milestone in the history of industrial architecture in Galicia. " And if Allariz is the model, the designer, in a lengthy disquisition on "the protection of the environment, landscape and respect for the land," showed the example of what not to do in town planning. "Vigo is a heavenly spot, special, but they are clearly raw and made a city without concern for the environment in which it is." The businessman asked, almost instantly, which was not used the phrase to make headlines, and interpreted that what was intended to say is that "Vigo could be Venice" and elaborate on his idea that "beauty is profitable in the long run" . It was precisely the conselleira of Housing who detailed the business plans of Adolfo Dominguez SA in Val da Rabeda with an investment of 20 million euros to create 160 direct jobs and take up production line and textiles for the home. The Xunta contributes another 21 million euros to cover infrastructure and services business park. Quintana framed this business initiative as "clear example of the economy with roots" which advocates vice presidency. And he thanked Adolfo Dominguez that in times where it increases the risk of industrial relocation, has decided to "unify the lines of design and production of brand Adolfo Dominguez in the territory from here to conquer the world." The vice president stressed that in these four years have managed 16 million square meters of industrial land, rather than the four previous legislatures. But added that as important as how much is the where, as the former executive "was poly planned business in places where there was no demand." The number two of the Galician Government looked to the example and spread the signing textile Orense act as a force for tractor that other companies are also located in Val da Rabeda, the park will begin to develop as early as 2009. And he appealed to their status as Orense and Adolfo Dominguez's own in insisting that Vice has a plan for the province based on the principle mourn less and act more in order to seek synergies with Vigo and act as a bridge between Portugal and the Plateau .

Barcelona aims to become the gateway for Chinese investment in the Mediterranean

China is now one of the most coveted markets. In the middle of financial crisis, the Asian giant draws chest with a slash economic growth that still 10% and with the greatest volume of foreign-exchange reserves in the world. Since yesterday, more than 600 chairmen and CEOs from around the world, but particularly Asians, are meeting at the Global Chinese Business Meeting, a sort of Davos on this country which this year takes place in Barcelona with Casa Asia as host. And at a dinner packed with executives from the world's fourth investor, the city ran as the platform to be the gateway of the Chinese capital on both sides of the Mediterranean. Tibet protest The news on other websites Websites in Spanish in other languages Seven out of 10 Chinese immigrants are customers of La Caixa "The new century began on Aug. 8, 2008." With this reference to the date of the inauguration of the Olympic Games in Beijing, the foreign minister, Miguel Angel Moratinos, summed up the key role that China develops. Its growing world power is overwhelming. Is already the second largest exporter and the third importer worldwide. "There is no doubt that the twenty-first century will be their century," said the director general of La Caixa, Juan Maria Nin. Therefore, the Catalan government made clear to the Chinese entrepreneurs to Barcelona, the brand-new headquarters of the Union for the Mediterranean, should be the platform for landing the country in the Asian region. The president of the Generalitat, Jose Montilla, said that one of the strengths is the port of the Catalan capital, with traffic in several Chinese cities growing at a rate of 30% annually. "Our ambition is to be the gateway for Latin American and Euro-Asia," he said. All institutions were ordered deseeded the many political, economic and cultural factors that have been reached with China, especially with uprooted strategic agreement signed in the La Moncloa in 2004, in which Spain became a preferred partner of the Asian country. But they are also cultural links. The Catalan capital will be in the Innovation & Design Expo in Hong Kong in December and the Shanghai Expo 2010, and that year will host the forum between Spain and China. "Barcelona, headquarters of the Union for the Mediterranean, is the natural gateway to Asia in the region," the mayor of the city, Jordi Hereu. "China is the great engine in the eyes of everyone," added the Minister of Industry, Miguel Sebastian. And the sectors where Spain can drive the tooth are better, according to Sebastian, infrastructure, renewable energy, biotechnology, financial, telecommunications and water treatment. In addition China has a presence through immigration, which is an important colony, recalled Montilla, with a big "business and commercial dynamism." Another opportunity that takes advantage of, for example, La Caixa, which with 80,000 buyers from China Cup almost 70% of the entire community in Spain. Added to this is its market share of 10% as an intermediary in trade flows between both countries and their share of 9.9% in Bank of East Asia. La Caixa is considering further open its second office in China. Tibet protest The meeting brings together authorities in China and Singapore, but also to managers of the largest energy companies, telecoms and banks of the Asian giant. Therefore, two groups gathered at the entrance to the Maritime Museum to protest the backwardness of China on respect for human rights. One group focused on abuchear to the floor and chant "Freedom for Tibet!". Another, with members of Amnesty International, remained silent for reporting that the meeting (to which they are not opposed) does not address human rights case to which it referred, albeit in a shy, Miguel Angel Moratinos

The recession lurks a GDP that grew by only 0.1% in the third quarter

Galicia's economy is on the brink of paralysis, and is only kept in motion by the particular retardant effect that the crisis is the same in the rest of Spain. According moved yesterday Galego Statistical Institute, Galicia grew in the third quarter of this year, a tenth, a meager 0.1%, the Xunta makeup yesterday to underline that the rate so far this year stands at 1, 6%, seven tenths more than the entire state. Although the increase exceeds that of Galicia in Spain, GDP continues to moderate autonomy, as in the second quarter was the advance of 2, 4 per cent, eight points on the period from July to September. In addition, we must remember that the community a year ago was growing at a pace of 4, 2 percent. The data, bad, evidenced by the lack of realism of the official forecasts of the Xunta, which estimated growth of 3.5% this year when it approved the last Budget of the Commonwealth, a figure that had to be corrected twice to put it into 2%, over four tenths of what Galicia has grown so far this year, in the absence of the last quarter. Disparity of views From the opposition, the popular Alberto Sueiras reproached that beyond the official data, "the fact is that every citizen takes months Galicians suffer from the adverse effects of the crisis to complacency and indifference of the Executive widespread bipartisan." "The data today called attention to the speed with which worsened the economic situation in Galicia" because "their growth was reduced by half in just six months". Thus, according to the PP, the Commonwealth rose to grow by 3.2 percent on-year to finish the first quarter of this year to be placed on an 1.6 by the end of the third quarter of 2008. For the government, the glass is half full. The viceportavoz of the PSOE in Parliament, Xaquín Fernandez Leiceaga, accused the PP of returning to "invoke the catastrophism" to put the Galician economy to the brink of recession, while considered that seemed to irritate the people's positive differential of the Community Regarding the national average. The president of the Xunta, meanwhile, said today that the positive differential growth of the Galician economy 'lets face the future and the present with greater confidence and solvency. " Emilio Pérez Touriño recalled that grew up in Galicia era of prosperity, and maintains that this positive growth in the current economic situation. He also announced that the next day 25 will appear in Parliament to give an account of the situation of crisis.

Spain proposes to cut the ICCAT bluefin tuna fishing in May

The Spanish delegation at the meeting of the International Commission for the Conservation of Atlantic Tunas (ICCAT) yesterday found an atmosphere of "widespread concern" at the opening of the summit being held in Marrakech. The European Union considers this meeting "last chance" to introduce restrictions on bluefin tuna fishing in critical condition. The director general of Spanish Fisheries Resources, Fernando Curcio, noted that political will exists to better manage the fishery in the eastern Atlantic and Mediterranean. Spain advocate for cutting fishing activity during the month of May and asked to review the exemptions from minimum size.

Citigroup fired 50,000 employees around the world

Walkers before an office of Citi bank, in the financial district of New York. Picture: AP / RICHARD DREW MORE INFORMATION The bags react with falls after the Washington Agreements Japan falls into recession after seven years of growth Obama said that reducing the deficit is not a priority Idoya Noáin NEW YORK "Getting in shape. Hurry!" Under this heading emphatic, on page 16 of a presentation made yesterday at a town hall meeting with employees, the chief executive of Citigroup, Vikram Pandit, announced one of its proposals to try to restore profits at banking giant U.S.: leave your staffing at least 300,000 employees. To achieve this goal Citigroup fired from more than 50,000 workers around the world, a cut of 14% of the workforce regarding the height of the end of 2007, when it had 375,000 people on the payroll. The organization with headquarters in New York declined to offer a specific timetable or specific details about the plan, but the U.S. chain CNBC yesterday referred to anonymous sources to ensure that the layoffs will be implemented "in the short term." And the cut will be the second and most important of Citigroup, which has already dispensed in recent months has 23,000 employees. SALE OF UNITS This time, as has been announced for staff cuts will be implemented primarily through the sale of units and the non-renewal of appointments for vacancies. It is estimated that most of redundancies will arise in the investment banking group, but predicts that other divisions, like the legal department or human resources, will also receive a strong impact of the coup. The mass layoffs are the main tool - along with a proposal to cut costs between 16 and 19% - which was introduced yesterday by the U.S. banking group to try to recover positions and results. And this recovery is essential, especially after the heavy losses that Citigroup has been linked to the crisis and after the unsuccessful attempt to get hold of Wachovia (the bank that eventually ended up in the hands of Wells Fargo). That failed operation has helped to reduce the value of Citigroup compared to other competitors such as Bank of America and JP Morgan Chase. The value of their assets today is a 15% lower than a year ago, and Citigroup has had to increase from 7539 to 18,960 million euros to reserve the money to cover loan losses. OTHER FALL IN THE BAG The news pushed yesterday to another drop in the stock markets as shares of Citigroup, which have lost nearly 70% of its value so far this year and which are for the first time in 12 years in single-digit figures. In the last quarter, Citigroup has suffered losses of 2211 million, which coupled with the rise of the previous three and the total number of negative results to 15,800 million. Some analysts predict that profits not return until 2010 and only the bad situation has contributed to increasing criticism of the management of Pandit, who has just one year at the helm of the devalued group.

Banco Popular, Bancaja and Pastor head of the creditors Tremona

Banco Popular, Banco Pastor Bancaja and the entities with which the group Tremona, which has requested an arrangement with creditors, has assumed greater debt, 200, 100 and 95 million euros, respectively. According to estimates of the real estate promoter, the bank debt it has with a syndicate of 16 financial institutions amounted to 1,000 million euro, which has failed to refinance with what they called the contest. In the list of creditor banks Tremona also include La Caixa and Caja Castilla-La Mancha, with 80 million euros each, the CAM, with 75 million, CajaSur (58 million), Caixa Galicia (47 million), Cajamar (40 million), Caixa Catalunya (37 million) and Banco Sabadell (31 million). Rounding out the syndicate of banks financing the group BBVA and Caja Madrid, with 30 million euros each; Caja Cantabria, with 20 million boxes Spain (16 million) and Caja Sol, with 15 million. These data, however, will have to be ratified by each of the entities, since yesterday, the Banco Pastor said that in July of last year's debt Tremona with the entity was 76 million euros and at the moment is "Significantly lower". Most of the bodies confirmed yesterday that the amounts owed by Tremona are provisioned, so the impact on delinquency ratios is virtually nil. The application of competition affects the parent (group Tremona), a PR Hotels and Lodges (the company that owns hotels) and Altating Real Estate Services (promoter). However, the group indicated that the activity of its hotels in operation is completely out of the arrangement with creditors and that the activity is normally kept in their tour. Tremona also noted that the application of competition does not stop its activities in the promotion and sale of homes, so there's no impact to its 600 employees. The bulk of the staff is employed in the management of the thirteen hotels in the group (ten of them owned). The group insisted that the work of their hotel stays normally. With regard to customers, these sources claim that the group has no outstanding housing delivery, as it does not start new projects since the middle of last year began to be felt the restriction of credit. Likewise, they indicated that neither has any problems with unpaid suppliers and subcontractors, since the bulk of its debt is contracted with banks. This information from the company contrasts powerfully with the allegations of systematic some contractors, among them one that has been expressed repeatedly in front of the headquarters of the group refused to accept promissory notes with no guarantee that, as alleged, wanted to pay Tremona

The Generalitat and the central government seeking a pact to save Nissan

The summit-Generalitat Government to address the future of the automotive sector and the crisis in the industry ended yesterday with the agreement of both governments to coordinate to lock in the future of Nissan. Industry Minister, Miguel Sebastian, pledged before the Innovation, Josep Huguet, before December to create a working group to three bands, which also involved the multinational, that it intends to lay off workers in Barcelona 1680 Almost 40% of its workforce, by 2009. Montilla, nowadays with employers The news on other websites Websites in Spanish in other languages "As Montilla back from Japan with nothing, there will be mess," warns a trade unionist The Japanese group's main bet for the sites you have in Europe is the electric car, whose manufacturing plants choose Barcelona and Valladolid (Renault). But it is not only an issue for Nissan, nor an immediate solution. The factory in the Zona Franca is soon to suffer for his expertise in SUVs, they notice more than any other model the sharp slowdown in sales: pollute more and that is paid. Those that specialize in utilities have a few more years to come. But Huguet is convinced that the future of the automobile in Europe passes, starting in 2014, for cars that do not pollute, including low-end. And the minister also because he wants to move in that year by Spain a million green cars. For that reason, the Government intends to meet before Christmas with the nine autonomous communities that have automobile plants to address the introduction of the electric car. This was the second agreement of the meeting, which was also attended by Labor Minister Celestino Corbacho, and the Minister of Labor, Mar Serna. At the meeting, which was held at the Palau de la Generalitat for an hour, the adviser to the minister suggested the possibility that the employees affected by temporary suspension of work does not consume the unemployment benefits and may put the meter to zero, in line with the wish expressed yesterday in this regard by the secretary general of the UGT of Catalonia, Josep Maria Alvarez. Coinciding with the conclave, a thousand workers marched in the Nissan plaza Sant Jaume to reiterate that the Catalan government does not approve the record of employment regulation (ERE) from Nissan, with cries against the president of the Generalitat, José Montilla, and the highest executive of the multinational company in Spain, Fumiaki Matsumoto. The committee, which will meet again tomorrow with the leadership with the mediation of the Generalitat, reiterates that it intends to negotiate until he withdraws the Nissan ERE. Montilla deployed to the unions to use his upcoming trip to Japan to start an agreement to the multinational. "As a back empty-handed, there will be mess," said one worker. Montilla, nowadays with employers The president of the Generalitat, Jose Montilla, is meeting with business representatives from Catalonia, which will share a meal, to address the crisis and its impact on business. Fuentes de la Generalitat and assistants declined to provide further details about the meeting, which stressed their "private", and stressed his willingness to "discretion". However, it confirmed the presence of the president of the Barcelona Chamber of Commerce, Miquel Valls, the president of Pimec, Josep Gonzalez, and the president of Fepime, Eusebi Cima, among other entrepreneurs. The meeting between Montilla and entrepreneurs occurs 18 days after the president met with officials of the 10 Catalan savings to address the economic crisis, in that case accompanied by the Minister of Economy and Finance, Antoni Castells, and specialists financial policy in the Department of Economics

Sunday, November 16, 2008

Parent associations and Mothers in Action

SOS Pamac and Dad before a merger celebrated Yesterday, the Ministry of Equality to ask its owner, Bibiana Aido, that this department is no longer 'lilac' (color associated with feminism) and "feminist" and work for equal rights between men and women. The participants claimed banners with the "automatic custody of children" and equal rights and obligations between the parents after the breakup of the couple.
Francisco Rodriguez, president of Pamac, stated that 80% of cases of gender violence occurring in parallel with the disengagement process, which, under the law, one of two members of a marriage can "keep the house and with the children. "
For this reason, that the government should correct the error of voting which took place under the current Divorce Act, passed in 2005, because, in his view, to "pressure from the 'lobby' feminist Spanish."
New legislation
Changing the law, has continued, preventing many cases of gender violence and manipulation that parents exercise over the children to reject the other parent, with the consequence of the so-called parental alienation syndrome. The spokesman of this group said that joint custody is the best system to "ensure the interests of the child" and to combat the negative effects of divorce.
In a letter delivered to the Ministry (the minister did not receive them) demanding the implementation of a Family Law Mediation to reduce the conflict in separations, the liquidation of acquisitions for the time being, as well

Saturday, November 15, 2008

Mendez asks aid for the automotive sector

The UGT secretary general, Candido Mendez, met yesterday in Zaragoza with the union section of General Motors (GM) Spain, led by Peter Bona, to know "out loud" the impact that the economic crisis is having on plant Figueruelas. The UGT secretary general Candido Mendez, met yesterday in Zaragoza with the union section of General Motors (GM), Spain, led by Peter Bona, to know "out loud" the impact that the economic crisis is having on Figueruelas plant. After that the factory employs observe them directly to 7,400 workers, who belong to other 7500 supplier companies and, furthermore, that this activity generates an induced employment for 18,000 people, Mendez called for "greater involvement of public policy" to define a "vigorous and coordinated action" on industrial policy, with particular attention to the automobile. After that the factory employs observe them directly to 7400 workers, who belong to other 7500 supplier companies and, furthermore, that this activity generates an induced employment for 18,000 people, Mendez called for "greater involvement of public policy" to define a "vigorous and coordinated action "on industrial policy, with particular attention to the automobile.

Mendez said that would not be giving grants, but measures such as set up credit or allow delays in the payment of taxes, and explained that this initiative should also contribute to financing the activities of Research, Development and Innovation (RDI) and support the internationalization of these companies. Mendez said that would not be giving grants, but measures such as set up credit or allow delays in the payment of taxes, and explained that this initiative should also contribute to financing the activities of Research, Development and Innovation (RDI) and support the internationalization of these companies. "In Aragon, GM accounts for almost 50% of the export power", illustrated. "In Aragon, GM accounts for almost 50% of the export power", illustrated.

Across Europe, GM has a need for liquidity of $ 750 million, of which depends on the release of twenty models until 2012, including the Opel Meriva and Corsa, which will occur in Figueruelas. Across Europe, GM has a need for liquidity of $ 750 million, of which depends on the release of twenty models until 2012, including the Opel Meriva and Corsa, which will occur in Figueruelas. Mendez rejected the views that claim that the granting of aid to the automobile companies would create a grievance comparative compared to other sectors, recalling that the crisis "has already been broken many taboos" with public support to financial institutions and the nationalization of some of them. Mendez rejected the views that claim that the granting of aid to the automobile companies would create a grievance comparative compared to other sectors, recalling that the crisis "has already been broken many taboo" with public support to financial institutions and the Nationalization of some of them . In his appearance before the press, Mendez was accompanied by the UGT secretary general of Aragon, Julian Loriz, his counterpart in the Federation of Metal, Construction and Allied Workers, Luis Tejedor, and the head of the UGT union section of the plant in Zaragoza GM. In his appearance before the press, Mendez was accompanied by the UGT secretary general of Aragon, Julian Loriz, his counterpart in the Federation of Metal, Construction and Allied Workers, Luis Tejedor, and the head of the UGT union section of the plant in Zaragoza GM

Gesa-Endesa receives over 100 complaints in a day by the blackout on Thursday

. La empresa Gesa-Endesa dio a conocer ayer que a lo largo de todo el día recibió más de un centenar de reclamaciones de personas afectadas por el apagón -o suministro eléctrico cero- que tuvo lugar el pasado jueves en Mallorca y en Menorca, que tuvo su origen en un rayo que cayó en la central eléctrica de es Murterar, en el municipio mallorquín de Alcudia. The company Gesa-Endesa announced yesterday that throughout the whole day received more than a hundred complaints from people affected by the blackout-or zero-power failures that took place last Thursday in Mallorca and Menorca, which took originated from a lightning strike that hit the power plant is Murterar, in the municipality Majorcan beach.
Dicho apagón, que se inició poco después de las doce del mediodía, dejó sin suministro eléctrico a ambas islas entre dos y siete horas, dependiendo de cada municipio, y se calcula que afectó a un total de unas 900.000 personas. That blackout, which started shortly after twelve noon, he left without electricity supply on both islands between two and seven hours, depending on each municipality, and is estimated to have affected a total of around 900,000.
Gesa-Endesa habilitó ayer un número de teléfono específico (900 858 785) para atender posibles nuevas reclamaciones, así como un espacio en su página web ( Gesa-Endesa yesterday enabled a specific telephone number (900 858 785) to meet potential new claims, as well as an area on its website ( Las quejas presentadas hasta ahora hacen referencia, mayoritariamente, a los daños sufridos por diversos electrodomésticos ya los problemas habidos en aquellos alimentos que debían permanecer en estado de congelación. The complaints filed so far refer mainly to damage to various appliances and the problems occurred in those foods that should remain in a frozen state.
Teléfono gratuito Free Phone
Por su parte, la Dirección General de Consumo del Ejecutivo autonómico habilitó también un teléfono gratuito (900 166 000), en el que se dará información sobre los pasos a seguir por aquellas personas que consideren que se han visto afectadas por el suceso del pasado jueves. For his part, the Directorate General of the Executive Consumer autonomic also enabled a toll-free (900 166 000), which will give information on the steps to follow for those who feel they have been affected by the incident last Thursday . El Ayuntamiento de Palma de Mallorca también se ha comprometido a facilitar, a partir de la próxima semana, información en este mismo sentido. The City Council has also pledged to provide, starting from next week, information in this regard.
Por lo que se refiere al número de incidentes registrados anteayer, fallaron en mayor o menor medida 165 de las 400 estaciones telefónicas en Mallorca y en Menorca. As regards the number of incidents recorded before yesterday, failed to a greater or lesser extent 165 of the 400 stations telephone in Mallorca and Menorca. Asimismo, los bomberos atendieron a 15 personas que habían quedado atrapadas en ascensores. Also, firefighters responded to 15 people who had been trapped in elevators. En cuanto a los agentes de la Policía Local de Palma de Mallorca que formaron parte del dispositivo especial puesto en marcha, un total de 77 efectivos se desplazaron hacia los puntos más conflictivos por lo que se refiere al tráfico rodado. As for the officials of the Local Police in Palma de Mallorca which formed part of the special device launched, a total of 77 troops moved toward the most contentious points as regards to traffic.
El sector del comercio fue uno de los más afectados, si bien fuentes de las principales patronales indicaron que, a diferencia de lo ocurrido en el histórico apagón del 21 de julio de 2003, en esta ocasión no se registraron excesivas pérdidas. The trade sector was one of the most affected, although sources indicated that the major employers, unlike what happened in the historic blackout of July 21, 2003, this time there were no excessive losses.

Telefonica wins 5596 million in nine months RV RV 16/11/2008 Vota Vote Resultado Result Sin interésPoco interesanteDe interésMuy interesanteImprescin

The results published by Telefonica at the end of third quarter of the current financial year are at least unclear.

La compañía presentó un beneficio neto de 5.596 millones de euros, el 28,7% menos que en el mismo periodo del año anterior, aunque si se tienen en cuenta los resultados extraordinarios de 2007 -las ventas de Endemol y de Airwave reportaron 2.600 millones de euros- el beneficio "comparable" sube el 23,5% en esos nueve meses. The company made a net profit of 5596 million euros, 28.7% lower than in the same period last year, but if one takes into account the extraordinary results of 2007, sales of Endemol and Airwave reported 2,600 million Euro-profit "comparable" rises 23.5% in the nine months.

Los ingresos crecieron en ese tiempo el 2,7%, hasta 43.141 millones de euros, lo que indica cierto estancamiento, a pesar de que se han aumentado las líneas de telefonía móvil. Revenues grew at that time by 2.7% to 43,141 million euros, which indicates a certain stagnation, even though they have increased the lines of mobile telephony.

Los inversores apenas han entrado en la valoración de esas cuentas y han preferido centrarse en la confirmación por parte de la empresa de sus expectativas de mejorar el resultado operativo bruto entre el 7,5% y el 11%, aunque hasta septiembre ha descendido el 6,7%. Investors have barely entered in the valuation of these accounts and have preferred to focus on confirmation from the company of their expectations for improved gross operating result between 7.5% and 11%, but has declined until September 6 , 7%. La cifra de ingresos "debe" estar al terminar el año entre el 6% y el 8% mejor que en 2007. The income figure "should" be at the end of the year between 6% and 8% better than in 2007.

Las acciones de Telefónica han conseguido subir el 3,71% en esta semana. Shares of Telefonica have managed to raise the 3.71% this week.

How to cope with the increase in capital of Santander

Santander sorprendió esta semana al mercado con una ampliación de capital con la que quiere recaudar 7.200 millones para mejorar su capital. Santander surprised the market this week with a capital increase with which wants to raise 7200 million to improve its capital. Emite 1.598,81 millones de títulos y los ofrece a sus accionistas a 4,5 euros, un descuento del 46% respecto al 7 de noviembre, la sesión anterior a que se conociera la noticia. Gives 1598.81 million titles and offers its shareholders to 4.5 euros, a discount of 46% compared to November 7, prior to the meeting to know the news. Ayer cerró a 6,53 euros. Yesterday closed at 6.53 euros.

debido al efecto dilutivo que tendrá en el beneficio por acción, cercano al 20%. due to the effect that will dilute the earnings per share, close to 20%. El mercado ajustó este factor. The market adjusted this factor.

¿En qué situación están ahora los accionistas del banco? In what situation are now shareholders of the bank? Tienen sus títulos que cotizan a 6,53 euros (tras caer el 1,36% el viernes) y además unos derechos para suscribir acciones nuevas que valen 0,50 euros. They have their securities traded at 6.53 euros (1.36% after falling on Friday) and further rights to subscribe for new shares worth $ 0.50. Éstos subieron el jueves un 17,39% y ayer cedieron el 7,41%. They climbed on Thursday, a 17.39% and 7.41% yesterday ceded. Ambos se negocian a diario en la bolsa. Both are traded daily in the bag.

El jueves, cuando empezaron a cotizar los derechos, las acciones de Santander partían de 6,34 euros, tras haber descontado los 0,46 euros del valor teórico del derecho al cierre del miércoles. On Thursday, when the rights were listed, the shares of Santander started from 6.34 euros, having discounted the book value of 0.46 euros to the right at the close of Wednesday. Después de dos sesiones de negociación, el banco llegó a recuperar ayer el precio del derecho que descontó el jueves, pero al cierre se quedó ligeramente por debajo. After two negotiating sessions, the bank had recovered yesterday that the discounted price of the right on Thursday, but the closure was slightly below. Además, los accionistas tienen los derechos que cotizan aparte. In addition, shareholders have the rights listed separately.

El castigo que acumula Santander en el año, una caída del 52%, es excesivo The penalty that accrues Santander in the year, a drop of 52% is excessive

El accionista que quiera acudir a la ampliación del banco y poder comprar títulos pagando sólo 4,5 euros por acción, necesitará cuatro derechos de suscripción para cada uno. The shareholder who wants to go to the expansion of the bank and be able to buy securities paying only 4.5 euros per share, you need four rights to subscribe for each. ¿Cuántos derechos tiene cada accionista? How many rights does each shareholder? Uno por cada acción vieja que tuviera en posesión antes del día 13. One for each share old to take possession before the day 13. Es decir, si tenía 500 acciones le corresponden 500 derechos. That is, if you had 500 shares are 500 rights. Como necesita cuatro para poder comprar una acción pagando 4,5, podría adquirir 125 títulos. El desembolso sería de unos 563 euros, más las comisiones que pueda cobrar el intermediario. As needs four to be able to buy a paying 4.5, you could buy 125 titles. The outlay would be about 563 euros, plus commissions that the broker may charge.

Otra alternativa que tiene el actual accionista del banco cántabro es, por ejemplo, vender la mitad de los derechos que le corresponden como propietario de acciones, serían 25o en el caso del ejemplo anterior. Another alternative that has a current shareholder of the bank Cantabrian is, for example, sell half of his rights as the owner of shares, would be the 25th in the previous example. Al cierre de ayer, (a 0,5o euros) hubiera conseguido 125 euros, con lo que hubiera podido comprar 27 acciones de Santander (125 euros dividido por 4,5 euros). At the close of yesterday (or 0.5 euros) would have resulted in 125 euros, which would have been able to buy 27 shares of Santander (125 euros divided by 4.5 euros). Financia así la compra sin aportar dinero nuevo. Well financed the purchase without providing new money.

La tercera opción es vender en mercado todos sus derechos. The third option is to sell at market all their rights. Si tiene 500 acciones le corresponderían 250 euros (a 0,50 euros). If you have 500 shares received by him 250 euros (0.50 euros).

Los expertos reconocen que el descuento que ofrece el banco es lo suficientemente atractivo para acudir a la ampliación a estos precios. Experts recognize that the discount offered by the bank is sufficiently attractive to go to extending these prices. Y eso a pesar de que las perspectivas para el sector bancario no son las mejores para el próximo año. And this despite the fact that the outlook for the banking sector are not the best for next year. No obstante, Santander ha hecho un guiño a sus accionistas al asegurar que mantendrá el dividendo por acción en 2009 gracias al aumento del beneficio. However, Santander has made a nod to its shareholders to ensure that it will maintain the dividend per share in 2009 thanks to increased profit. En 2008 ha pagado 0,63 euros por título. In 2008 it has paid 0.63 euros per share.

Aunque algunos analistas muestran escépticos sobre la conveniencia de invertir en el sector, reconocen que el castigo que acumula Santander en el año, una caída del 52%, es excesivo. Although some analysts are skeptical about the advisability of investing in the sector, acknowledge that the punishment that accumulates Santander in the year, a drop of 52% is excessive.

Los que no tienen títulos de Santander, pero quieren adquirirlos, la ampliación les abre una nueva vía. Those who do not have titles Santander, but they want to buy them, enlargement opens a new avenue. Una es la operativa normal de comprar acciones viejas en el mercado a 6,53 euros (al cierre de ayer). One is the normal functioning of buying shares in the old market at 6.53 euros (at the close of yesterday). Otra es adquirir acciones nuevas. Another is to acquire new shares. Para ello necesitan comprar cuatro derechos y desembolsar los 4,5 euros de la emisión. For this they need to buy four rights and pay up to 4.5 euros from the issue.

A cierre de ayer la segunda opción resultaba un desembolso de 6,50 euros. At yesterday's closing the second option

Pilots' union decided to continue the strike until Monday, Air France

París, 15 nov (EFE).- El Sindicato Nacional de Pilotos de Líneas (SNPL) anunció hoy que continuará hasta el lunes la huelga de Air France iniciada ayer, después de que sus bases rechazaran el compromiso ofrecido por el Gobierno sobre la edad de jubilación que está en el origen de la protesta. Paris, Nov 15 (EFE) .- The National Union of Line Pilots (SNPL) announced today that it will continue until Monday, the strike of Air France which started yesterday, after its foundation rejected the compromise offered by the Government on the age of Retirement is at the origin of the protest.

Un 65 por ciento de los miembros del consejo nacional del SNPL (central mayoritaria en la compañía aérea francesa) decidieron seguir con el paro, por lo que la dirección del sindicato pidió al Gobierno que retire su enmienda de compromiso y abra una ronda de negociaciones. About 65 percent of the members of the National SNPL (central majority in the French airline) decided to continue with the strike, the union's leadership asked the government to withdraw its compromise amendment and open a round of negotiations.

La decisión del SNPL es resultado de una consulta interna sobre la propuesta del Ejecutivo de presentar el próximo lunes una enmienda de rectificación parcial de la disposición que desencadenó el paro. SNPL's decision is the result of an internal consultation on the proposal of the Executive next Monday to file an amendment to rectify part of the provision that sparked the strike.

En concreto fue otra enmienda, en ese caso de iniciativa parlamentaria, al presupuesto de la Seguridad Social votada el pasado día 1 que eleva la edad posible de jubilación de los pilotos de los 60 años actuales a 65 años a partir de 2010, con el argumento de que esa es la edad estándar en otros países. In particular, was another amendment, in this case of parliamentary initiative, the budget of the Social Security voted last day 1 that raises the retirement age as possible of the pilots of the current 60 years to 65 years from 2010, arguing that is the standard age in other countries.

La huelga iniciada ayer, y cuya convocatoria la prolonga hasta el lunes a medianoche, se tradujo esta mañana en la alteración del programa habitual de Air France "conforme" a lo que había anunciado la dirección de la aerolínea. The strike started yesterday, which prolongs the call until Monday at midnight, this morning resulted in the alteration of the customary agenda of Air France "compatible" with what he had announced the leadership of the airline.

Eso significó que se suspendieron en torno a la mitad de los enlaces interiores y de medio alcance (conexiones europeas y con el norte de África), mientras que en los servicios intercontinentales las supresiones se situaban entre el 30 y el 35%, precisó el portavoz. That meant that were suspended in about half of the inner links and medium-range (connections with European and North Africa), while intercontinental services in the deletions were between 30 and 35%, said the spokesman .

Air France canceló desde España una decena de vuelos, ocho con destino París y dos hacia Lyon y advirtió de que se podían producir otras "cancelaciones sobre la marcha". Air France canceled from Spain about a dozen flights, eight and two for Paris to Lyon and warned that it could produce other "cancellations on the fly."

Two thousand people come to the promises of 'pocero' de Fuenlabrada

At the sixth day opened its doors to applicants and received a cooperative. Estaban cansados. They were tired. Helados. Ice cream. Llevaban en una mano una copia del registro para demostrar que no tienen propiedades y su carné de identidad. Carrying in one hand a copy of the record to show that they have no properties and their identity card. En la otra, 120 euros. In addition, 120 euros.

La noticia en otros webs The news on other websites

Ahmed Kallou tenía el número 2.101, y sueña con que haya una lista de espera Ahmed Kallou had the number 2101, and dreams of having a waiting list, puntual a la cita que él mismo había marcado hace ya varias semanas para poner la primera piedra de su obra: pisos baratos para otras tantas personas. Jose Moreno, the pocero of Fuenlabrada, arrived on time to the event which he had marked several weeks ago to put the first stone of his work: 2.100 cheap flats for as many people. Por el momento, los más de dos mil ilusionados sólo se llevaron a casa un documento que acredita que han pagado 120 euros a una gestora y que, en breve, deberán pagar otros 60 más para entrar a formar parte de una cooperativa. But for now, more than two thousand excited just took home a document certifying that have paid 120 euros to a manager and will soon have to pay more for another 60 to join a cooperative. Esa cooperativa será la encargada de conseguir el suelo necesario para hacer los pisos comprometidos: o bien comprándolos a particulares, o bien obteniéndolo en concursos públicos. This cooperative will be in charge of getting the land necessary to make the floors are committed: either purchased from individuals or from public tenders.

Teresa Alcántara y su hermano David fueron los primeros. Teresa Alcantara and his brother David were the first. Lo eran desde el domingo, cuando su padre, Emilio, inauguró a las ocho de la mañana la ya célebre acampada por los pisos de el pocero bueno. Desde ese momento, alguien de su familia ha estado siempre allí, frente a la sede de la asociación de vecinos La Avanzada. They were since Sunday, when his father, Emilio, opened at eight o'clock and the famous camping by the floors of the pocero good. From that moment, someone in your family has always been there, in front of the headquarters of the The residents' association Advanced. "Nos hemos turnado entre mis padres, mi hermano, mi novio, mi cuñada y yo", explicaba en la mañana de ayer Teresa, mientras pateaba el suelo para evitar que se le congelasen los pies. "We turn my parents, my brother, my boyfriend, my sister and me," explained Teresa yesterday morning, while kicked the ground to avoid being freeze their feet. Tras muchas horas de frío y de sueño, llegaba el momento para obtener los frutos de su esfuerzo. After many hours of cold and sleep, the time came to get the fruits of their effort. "Confiamos plenamente en José. Va a conseguir que tengamos piso", zanjaba David, pertrechado bajo un gorro invernal, ante las dudas de los periodistas. "We fully trust in Joseph. It's going to get us to have floor", ditches David, equipped under a winter cap, before the doubts of journalists.

A medida que se acerca el momento de la apertura de las oficinas, los nervios crecen. As we approach the time of the opening of the offices, nerves are growing. Teresa, de 31 años tiene en mente a su novio José Manuel, de 35. Teresa, 31 years has in mind for her boyfriend Jose Manuel, 35. Viven juntos en un piso de alquiler, por el que pagan 800 euros al mes. They live together in an apartment for rent, by paying 800 euros a month. Moreno es su oportunidad para tener un piso. Moreno is your chance to have a flat. "Nos costaría 20 millones menos y tardaríamos 20 años menos en pagarlo que un piso en el mercado libre", suspira Teresa. "It would cost 20 million less and would take at least 20 years to pay a flat in the open market," sighs Teresa.

Junto a ella, su hermano seguro que piensa en Deyanira, su mujer, de 24 años. Next to it, sure that his brother thinks of Deyanira, his wife of 24 years. Y en su pequeña de nueve meses. And in his small nine months. También ellos viven de alquiler. They too are living in rent. También pagan cerca de 800 euros por un piso en Fuenlabrada. They also pay about 800 euros for an apartment in Fuenlabrada. Para poder vivir, David acumula dos trabajos. In order to live, David accumulates two jobs. "No para el pobrecito", explica su esposa. "Not for the poor," says his wife.

A las 10.00, un hormigueo les recorre el cuerpo. At 1000, they toured a tingling body. Es el momento. It's time. Suben las escaleras que llevan hasta la oficina de La Avanzada. They climb the stairs that lead down to the office of La Avanzada. Recogen sus impresos, firman los documentos, pagan sus 120 euros y entregan toda la documentación. They collect their forms, sign documents, pay 120 euros and deliver all documentation. Después se abrazan. After hug. Teresa llora. Teresa weeps. "Estoy muy emocionada", exclama mientras se limpia las lágrimas. "I'm very excited," exclaims while they clean the tears. Abajo a los dos hermanos les esperan sus padres, Emilio y Dolores. Below the two brothers are waiting for their parents, Emilio and Dolores. "Fíjate, yo inicié la cola y ahora ya lo hemos conseguido", dice el padre visiblemente emocionado. "Look, I began the queue and now we have already achieved," said the father visibly moved. Tras las felicitaciones, cada uno vuelve a su casa. After the congratulations, everyone returns to his home. "Ahora hay que continuar con la vida normal", reflexiona Dolores antes de ser asaltada por un grupo de cámaras. "Now we have to continue with normal life," reflects Dolores before being assaulted by a group of cameras.

Muy lejos de esa escena, donde aún humean las fogatas de la última noche, centenares de personas se afanan en levantar las tiendas de campaña. Far from that scene, where even humean campfires of last night, hundreds of people were struggling to erect tents. Ahmed Kallou es el número 2.101: el primero que se quedará fuera de las promesas del pocero. Kallou Ahmed is number 2101: The first thing will be out of the promises of pocero. Llegó el miércoles por la mañana con el objetivo de conseguir un piso barato en el que poder vivir junto a su mujer y sus cinco hijos. He arrived Wednesday morning with the goal of getting a cheap apartment in which to live with his wife and five children. El más pequeño tiene seis años. The smallest is six years. El mayor 20. The largest 20. "Me han dicho que habrá una lista de espera. Quién sabe", se resigna el marroquí, que lleva 21 años en España trabajando en la construcción. "I have been told that there will be a waiting list. Who knows," the Moroccan is resigned, which carries 21 years in Spain working in construction.

José Moreno reiteró por su parte ayer que aún no hay suelo disponible para la construcción de los pisos comprometidos. Jose Moreno for his part reiterated yesterday that there is still no land available for construction of flats involved. No obstante, puso fecha para dar a conocer los municipios en los que podrían construirse las viviendas: el próximo día 25. However, he dated to publicize the municipalities where the homes could be built: the next 25 days. Mientras tanto, en la fila, los rumores se extendían como la pólvora: "Dicen que habrá en Getafe y Móstoles", decía uno. Meanwhile, in the row, rumors spread like wildfire: "They say that there will be at Getafe and Mostoles," said one. "Pues yo he escuchado que será en Alcorcón", respondía otro. "Well, I've heard that it will be in Bhopal," responded another. "Y yo en Humanes..." "And I in humans ..."

Mendez asks aid for the automotive sector

El líder de UGT se reunió ayer en Zaragoza con la sección sindical de GM. The leader of UGT met yesterday in Zaragoza with the union section of GM.

EL secretario general de UGT, Cándido Méndez, se reunió ayer en Zaragoza con la sección sindical de General Motors (GM) España, liderada por Pedro Bona, para conocer "de viva voz" el impacto que la crisis económica está teniendo en la planta de Figueruelas. The UGT secretary general, Candido Mendez, met yesterday in Zaragoza with the union section of General Motors (GM) Spain, led by Peter Bona, to know "out loud" the impact that the economic crisis is having on plant Figueruelas. Tras constatar que la factoría emplea de forma directa a 7.400 trabajadores, que otros 7.500 pertenecen a las empresas proveedoras y que, además, esta actividad genera un empleo inducido para 18.000 personas más, Méndez pidió "mayor implicación de la política pública" para definir una "acción coordinada y enérgica" en materia de política industrial, con especial atención a la automoción. After that the factory employs observe them directly to 7,400 workers, who belong to other 7500 supplier companies and, furthermore, that this activity generates an induced employment for 18,000 people, Mendez called for "greater involvement of public policy" to define a "vigorous and coordinated action" on industrial policy, with particular attention to the automobile.

Méndez precisó que no se trataría de conceder ayudas a fondo perdido, sino medidas como crear líneas de créditos blandos o permitir demoras en el pago de impuestos, y explicó que esta iniciativa también debería servir para favorecer la financiación de las actividades de Investigación, Desarrollo e Innovación (I+D+i) y apoyar la internacionalización de estas empresas. Mendez said that would not be giving grants, but measures such as set up credit or allow delays in the payment of taxes, and explained that this initiative should also contribute to financing the activities of Research, Development and Innovation (RDI) and support the internationalization of these companies. "En Aragón, GM supone casi el 50% de la potencia exportadora", ilustró. "In Aragon, GM accounts for almost 50% of the export power", illustrated.

En toda Europa, GM tiene una necesidad de liquidez de 750 millones de dólares, de los que depende el lanzamiento de veinte modelos hasta el 2012, incluidos el Opel Corsa y el Meriva, que se producirán en Figueruelas. Across Europe, GM has a need for liquidity of $ 750 million, of which depends on the release of twenty models until 2012, including the Opel Meriva and Corsa, which will occur in Figueruelas. Méndez rechazó las opiniones que afirman que la concesión de ayudas a las empresas automovilísticas provocaría un agravio comparativo respecto a otros sectores, al recordar que en la crisis "ya se han roto muchos tabúes" con las ayudas públicas a las entidades financieras y la nacionalización de algunas de ellas. Mendez rejected the views that claim that the granting of aid to the automobile companies would create a grievance comparative compared to other sectors, recalling that the crisis "has already been broken many taboos" with public support to financial institutions and the nationalization of some of them. En su comparecencia ante la prensa, Méndez estuvo acompañado por el secretario general de UGT Aragón, Julián Lóriz, su homólogo en la Federación del Metal, Construcción y Afines, Luis Tejedor, y el máximo responsable de la sección sindical de UGT en la planta zaragozana de GM. In his appearance before the press, Mendez was accompanied by the UGT secretary general of Aragon, Julian Loriz, his counterpart in the Federation of Metal, Construction and Allied Workers, Luis Tejedor, and the head of the UGT union section of the plant in Zaragoza GM.

Bush avoids the remaking of the global financial system

La cumbre celebrada ayer en Washington no fue un nuevo Bretton Woods. The summit held yesterday in Washington was not a new Bretton Woods. Si acaso, el inicio del camino para reformar las estructuras nacidas en aquella conferencia internacional con el fin de adaptarse a nuevas realidades, a un sistema financiero global muy diferente al que había en las postrimerías de la segunda guerra mundial ya las economías de países emergentes del estilo de China, la India o Brasil. If anything, the beginning of the path to reform the structures born at that international conference in order to adapt to new realities, a global financial system was very different to that in the aftermath of the Second World War and the economies of emerging countries of the style of China, India or Brazil. El extenso comunicado final de la cumbre fue, como pretendía el presidente estadounidense, George Bush, una declaración de principios comunes para una reforma, y no una refundación. The extensive final communique of the summit was, as claimed by the U.S. President, George Bush, a statement of common principles for reform, not a revival.
En un comunicado de 10 páginas, los líderes asistentes a la cumbre de Washington se mostraron de acuerdo, como la Casa Blanca quería, en que la libertad de mercado y de comercio, junto a una regulación apropiada pero no excesiva, son el motor del bienestar económico. In a 10-page communique, the leaders attending the summit in Washington agreed, as the White House wanted, that free markets and trade, together with an appropriate but not excessive regulation, are the engine of welfare economically. A partir de aquí, el G-20, España, Holanda y la República Checa se comprometieron a fortalecer la transparencia, la cooperación y la regulación para evitar que la crisis --que en el texto se califica de "global"-- vuelva a repetirse. From here, the G-20, Spain, Holland and the Czech Republic pledged to strengthen transparency, cooperation and regulation to prevent the crisis - that the text describes as "global" - again repeated. Para ello, se acordaron cinco principios comunes que deben regir el proceso de reforma: fortalecer la transparencia y la responsabilidad de los mercados, ampliar el marco de regulación, promover la integridad de los mercados financieros, reforzar la cooperación internacional y reformar las instituciones financieras internacionales. To that end, it was agreed to five principles common to govern the process of reform: to strengthen transparency and accountability of markets, extending the regulatory framework, promote the integrity of financial markets, strengthen international cooperation and reform the international financial institutions .

En concreto, el compromiso alcanzado implica tomar medidas: requerir completa transparencia sobre los productos que comercializan las entidades financieras, exigir que estas informen de su situación real y que se adopten medidas que desincentiven los riesgos excesivos. Specifically, the compromise means taking action: Require full transparency about the products they market financial institutions, require that such report of its actual situation and the need for measures to discourage excessive risks. Además, el texto pide, de una forma ambigua para satisfacer a Francia ya EEUU sobre los hedge funds, que todos los mercados, productos y agentes financieros estén regulados o controlados --"cada uno según sus circunstancias"-- y fortalecer un código de conducta internacional. The text also calls for an ambiguous way to satisfy France and the U.S. on hedge funds, which all markets, products and financial agents are regulated or controlled - "each according to their circumstances" - and strengthen a code of international behavior.
La cooperación en un mundo donde los capitales no conocen fronteras debe centrarse sobre todo en la prevención, gestión y resolución de crisis. Cooperation in a world where money does not recognize borders must focus on conflict prevention, management and resolution of crises. Y por lo que se refiere a las instituciones financieras internacionales, el comunicado del G-20 urge a una reforma del Fondo Monetario Internacional (FMI) y del Banco Mundial (BM) --pendientes desde hace bastante tiempo--, el reforzamiento del hasta ahora casi desconocido Foro de Estabilidad Financiera y la creación de unos "colegios de supervisores" para las grandes instituciones financieras cuya naturaleza es eminentemente transnacional. And as regards the international financial institutions, the communique of the G-20 calls for a reform of the International Monetary Fund (IMF) and World Bank (WB) - pending for quite some time - the strengthening of up to now almost unknown Financial Stability Forum and the creation of a "college of supervisors" for large financial institutions whose nature is essentially transnational.

CONTRA EL PROTECCIONISMO Against protectionism
En su comparecencia ante los medios (que zanjó con un "adiós" a los periodistas en alusión al final de su mandato), Bush destacó que los países participantes coincidieron en criticar el proteccionismo. In his appearance before the media (which settled with a "goodbye" to reporters in reference to the end of his term), Bush emphasized that the participating countries agreed on criticizing protectionism. Para ello se comprometieron a evitar "imponer nuevas barreras a la inversión y comercio de bienes y servicios" e hicieron un llamamiento a que antes de que acabe este año culminen las negociaciones de la Ronda de Doha de la Organización Mundial del Comercio, una propuesta que Brasil insistió en que estuviera presente en el texto final. To this end pledged to avoid "imposing new barriers to investment and trade in goods and services" and appealed to it before the end of this year leading the negotiations of the Doha Round of World Trade Organization, a proposal that Brazil insisted that was present in the final text. También se incluyó una referencia de pasada al cambio climático, a la seguridad alimenticia ya que la actual crisis no debe ser excusa para olvidarse de los países subdesarrollados. It also included a passing reference to climate change, food security since the current crisis should not be an excuse to forget about the underdeveloped countries.
Anexo al comunicado, el G-20 redactó una lista de los puntos a tratar hasta el 31 de marzo, recordando que si bien es responsabilidad de cada país adoptar las medidas necesarias, la cooperación debe primar cuando sea necesario. Annex to the communique, the G-20 drew up a list of items to be addressed until March 31, recalling that while it is the responsibility of each country to adopt the necessary measures, cooperation should prevail when necessary. Este principio es el que rige la parte del comunicado dedicada a medidas inmediatas para salvar la recesión, que incluye aplicar iniciativas fiscales y monetarias para estimular la economía y reforzar el papel del FMI para ayudar a países con problemas de liquidez. This principle is the governing party's communique committed to immediate steps to save the recession, which includes fiscal and monetary initiatives implemented to stimulate the economy and strengthen the role of IMF in helping countries with liquidity problems.

Zapatero announced a major recovery plan based on investment

José Luis Rodríguez Zapatero announced yesterday, at the end of the financial world summit held in Washington, a plan for economic revival, based on public investment, which will introduce the next 27 days in Congress and keep up to the December European Council, to coordinate with those of other EU countries. The head of the Spanish government left satisfied with his first meeting at this level, although he was cautious about his participation at the forthcoming summit of its kind to be held before the end of April in London. "I always challenge me by Mr Sarkozy," he replied, when asked about the statements of head of the French state, which assumed the continuity of Spain at the summits of the G-20.

"What I care to have attended this summit is that it has recognized the role of Spain," said José Luis Rodríguez Zapatero, for possible involvement in Spanish next meeting.

In his speech to world leaders behind closed doors for about 10 minutes, Zapatero called for "coordinated action of States to revive the economy through the instrument of fiscal policies." Although Zapatero did not explicitly ruled out tax cuts, he explained in the subsequent press conference that alluded to the need to support public investment in the productive economy, especially in areas like research and development, innovation, infrastructure, energy.

"This is where the public sector lead at the moment and economics with the economic action," he explained. After putting the example of China, who spent half a billion euros in public investment, insisted that "the increase in public investment is the most robust to combat a situation of economic stagnation or recession."

So far, the Vice-President and Minister of Economy Pedro Solbes, who yesterday sat to the right of Zapatero in the lounge of the National Museum of Architecture and whom he instructed to keep a "continuing dialogue" with financial institutions to ensure the provision of credit , Had resisted both new tax cuts as the increase in public spending by their effect on the deficit, which this year will be around 1.5% of GDP.

But, as explained by Cobbler yesterday, "the crisis in the markets has become a global economic crisis affecting the real needs of citizens", to which states can not stand idly by.

He underlined the need to coordinate national plans, especially in the context of the EU, "since it has proved the country to have little effectiveness", and recalled that the European Commission presented the next day on November 26 a plan for revival of the continental economy.

Although from the ranks of the PSOE had announced that it would take the ideological battle to the neoliberal postulates, the president was interested in stressing that the state "should not stifle economic freedom" and that his responsibility is to "bring order to financial markets, not replace them. " He rejected the adoption of protectionist measures, which he believed would be a "grave error", he put limits on tax havens, and even their elimination, and defended the need to regulate the "astronomical fees" and "unwarranted benefits" that have proliferated among the executives of the financial sector in recent years.

In this line, was in favor of introducing a "code of rights" for users of financial institutions, given the opacity of many of its products. Zapatero used his speech at the dinner on Friday at the White House to assume the effective functioning of the Spanish system of banking supervision, but avoided proposing the extension of the formula of provisions cyclical key to its success.

With regard to financial institutions, called for reforming the International Monetary Fund (IMF) and World Bank (WB), to reflect the real weight of each country in the world economy (now controlled by USA) and have sufficient resources to support countries in distress. On the other hand, attributed the coordination of plans for economic revival for the presidency of the G-20, the club under whose umbrella the summit was convened in Washington and who does not belong to Spain.

At least, still, as the head of the Brazilian diplomacy, Celso Amorim, suggested that the G-20 will become the G-22, with the addition of Spain and some other emerging economies. Brazil, which holds the rotating presidency this year's G-20, will be replaced in January by the United Kingdom, the top financial czar to give continuity to the one held yesterday.

A first step

Zapatero thanked Brazil for its invitation, but avoided laying the bells on the fly. "We have taken a very important first step and we will continue doing things well to consolidate our position," he said. On the participation of Spanish experts in the working groups that must deal with specific aspects of financial reform, said that Spain "is available" for the troika of the G-20 (comprising Brazil, the United Kingdom and South Korea), a which has been given its coordination.

Of all the leaders gathered in Washington, Zapatero was certainly one of the most optimistic. He assured that the prospects for economic recovery are "mejoreseconómica today are" now better than a week ago "and that the family photo of the summit will be remembered as" the day that things began to change. "The only certainty is change that the next picture will no longer be Bush, who thanked his "attitude of courtesy" despite "differences" that has existed between the two.

Without Spanish flag
The absence of the Spanish flag raised suspicions in Washington. Sources from La Moncloa hastened to explain that because of the presence of the Czech deputy prime minister in the Spanish delegation and the Dutch Minister of Finance in French (the head of the Government of the Netherlands, Jan Peter Balkenende was unable to attend for the death of his father) both countries agreed to give up their national colors and appear under the EU Common. In fact, Spain never had the right to be present with its own flag, not to join the G-20.

Like other presidents, Bush met with Zapatero, both on Friday night at the door of the White House as yesterday morning at the start of the summit, with a smile and a handshake. Yesterday even gift him with a "encantao" in Spanish. There is no evidence that his guest articulated word. The protocol would have it, in the family photo, Zapatero stood behind Bush.

Friday, November 14, 2008

Miguel Zorita, new CEO of San Jose

Miguel Zorita Lees (Valencia, 1956), since yesterday is the first executive of the San Jose group, owned by the Galician Jacinto Rey. Zorita has spent his career primarily in banking, where he held the leadership of Argentaria, and the presidency of the area of business promotion of BBVA. He was later president of the consulting firm Deloitte and Zima Capital Management. In the new organizational structure of the group, announced yesterday, Zorita take over the tasks which until now was to play Guillermo Mesonero Romans, who continues in the vice presidency. The appointment came the same day that Parquesol, a subsidiary of the company, announced to the Commission Nacional del Mercado de Valores the resignation of his vice president, Antonio Trueba.

The real estate continues to make relevant efforts to complete the merger with the group of Jacinto Rey, which owns 66% of its capital

State-Generalitat summit to address the future of the automobile

For the economic advisers of the Government collects them work. At the meeting of the group's anti Monday that the president of the Generalitat, Jose Montilla, created a few weeks ago to stem the tide of extinction records and suspension of employment, you will also next week. The Central Government and the Government held a meeting on Monday in Barcelona to address the future of the automotive sector and other issues of industrial policy.

Both executives have agreed to work together for the electric car

The event will be held at the Palau de la Generalitat at six in the afternoon and attended by Labor Minister Celestino Corbacho, the Industry Minister, Miguel Sebastian, director of the Innovation, Universities and Enterprise, Josep Huguet, and the counselor Labor, Mar Serna. Earlier, the president Montilla will meet with the four.

The meeting has been convened with the goal of both governments to work together to address the effects of the crisis. Specifically, it is expected that the workshop will focus on the future of the automotive sector. Concern about the restructuring in this sector has led the Government to ask the Government to be present in the plan for the future of the automobile which was announced by Minister of Industry, Miguel Sebastian. According to the Generalitat, this presence is already agreed on a common front to decide on the next generation of vehicles, electrical appliances.

Sebastian wants to move in 2014 one million vehicles in Spain and green Nissan, which this week confirmed its willingness to lay off 1680 between this year and next, with the presentation of two cases of regulation of employment (ERE), is ready to lead the project "whenever the government gives signs of being taken seriously with infrastructure, aid and search for partners." Three working groups will study the introduction of the electric car in Spain, one of them for possible production in Barcelona,

The wave of crisis in the automobile sector continues to spread in Catalonia. Along with Nissan and ERE for temporary suspension of Seat approved by the Generalitat, suppliers like Pirelli, Ficosa, Magneti Marelli, Delphi, Hutchinson and Estampaciones Sabadell are in trouble.

The new lines of the ICO will benefit 150,000

The Official Credit Institute (ICO) estimates that between 120,000 and 150,000 small business owners and self-employed will be eligible in 2009 for the extension of lines of credit to SMEs approved Friday by the Council of Ministers. The reform envisages to inject SMEs 28,900 million euros, of which 19,000 will go to cover the cash requirements.

The president of ICO, Aurelio Martinez, reiterated yesterday, as it did on Thursday in Valencia before the entrepreneurs of AVE, that this extension of credit will not solve all problems and that may be needed more funding, but stressed that the amount is "very respectable ".

On the other hand, the technicians of Finance estimated that the decision to allow companies to defer income that practice of withholding taxes on the payroll of their workers or the interests of bank accounts, will benefit mainly to banks and large companies, and leave the room for SMEs.

The plan extends to cars Lives of 10 years

The Government has done a facelift to the failed plan to try to resuscitate the Lives car sales, that chain's monthly falls 40%. One hundred days after its launch and with just half a hundred transactions recorded, the Council of Ministers yesterday expanded the conditions that allow eligible for the plan. The industry appreciates the reform, but is skeptical because the results did not include direct payments to consumers or to the financial vehicles.

The maximum amount is 30,000 euros and the amount, without interest, 10.000

The new Live presents three major developments. The first is that it reduces from 15 to 10 years seniority in order to scrapping the car and buy another. Cars are also accepted without age limit if you have more than 250,000 kilometers. It passes from four to nine million vehicles potential.

The second is to be increased to 30,000 euros (before 20,000) the maximum amount of the transaction and the third, extending the plan to cars. The plan also expands from 5,000 to 10,000 euros the amount financed without interest and a fixed rate to 2.5% for the remainder of the loan. It will not be necessary to fund the full amount of the vehicle. The new program allows partial funding and the possibility of including a year's absence from the principal.

In this way, a vehicle for 15,000 euros, the first year would be paid interest on $ 5,000. Taking an interest rate of 7.5%, reflecting a monthly fee of 31 euros.

At the press conference following the Council's Vice President Maria Teresa Fernandez de la Vega was convinced that the sector will exceed course sooner rather than later the current economic climate. "

The automobile industry is not so clear. The director general of ANFACO, management of manufacturers, Luis Valero, deemed necessary to include the brand in the financial rescue plan for banks that Plan Vive more effective. "The plan will have limited impact on the funding allocated to the ICO [1,200 million euros] and the difficulties of the financial resources to attract," he said.

The dealers warned that the main sticking point is access to funding. Faconauto believed that aid should have been direct, in order to reach the most disadvantaged incomes, lack of funding. Its president, Antonio Romero-Haupold, said that as no recovery in sales, threatening 20,000 jobs in the sector, 13% of the total.

The European market for passenger cars fell by 14.5% in October, with 1,134,031 units registered, a reflection of the financial crisis, reported yesterday by the Builders Association of European Automobile Manufacturers (ACEA).