The International Monetary Fund (IMF) and World Bank have called for the completion of its annual meeting for member countries to take advantage of the global economic crisis as a chance to reform. There were new clashes between police and demonstrators.
Both institutions and the governments of 186 member countries should continue to work on long-term solutions to restore confidence in the global economy and tackle weaknesses, “said the chairman of the plenary meeting, Nguyen Van Giau, Wednesday after four days of deliberations in Istanbul. Read more…
LONDON – The gold price has continued with the second consecutive record his flight of fancy. After early as Tuesday of the year and a half old record of about 1030 U.S. dollar was broken, the price for an ounce (about 31 grams) on Wednesday at noon to $ 1048.20 (about 712 euros).
As a reason for the upward trend experts cite in particular the weakness of the dollar, inflation fears and an attractive gold demand in major importing countries such as India. The recent gold price rise could according to estimates by Commerzbank expert Eugen Weinberg further Attract investors. This could push the price of gold even more upward. Read more…
Leipzig / Munich – The Munich carmaker BMW hopes for the universal sentence, paragraph dramatic slump again on growth. “We feel optimistic at the BMW Group in the coming year and in the fourth quarter,” said Human Resources Director Harald Krueger told reporters on Wednesday in Leipzig.
This was, however, also depends on the continuing economic development. How long will the crisis and whether the current situation is stable could tell no one, said Kruger. BMW had in September lean months within a year after the first time a slight increase in sales of 0.7 percent recorded and thus approximately 122 350 cars sold worldwide. For the full year BMW expects over 2008 but with a “moderate decline in sales» 10 to 15 percent. Krueger stressed that despite the crisis, the BMW Group in 2009 and 2010 about investing 1 billion euros in its German facilities. Read more…
SEATTLE / MUNICH – The online retailer Amazon.com will offer its “Kindle” reader for electronic books take place outside the United States. “Kindle can now be bought over 100 countries around the world in Germany and in,” said Amazon CEO Jeff Bezos on Wednesday Deutsche Presse-Agentur dpa. The e-book Offer from Amazon.com (NASDAQ: AMZN – News) currently includes only English-language titles. “Our vision is to be able to deliver some point every book in every language,” said Bezos. Read more…
STUTTGART – The Munich automobile company BMW aims to increase its savings efforts to secure its medium-term return targets. “We are called in the fall of 2007 target to reduce our costs by 2012 by more than six billion euros, over-deliver,” said Chief Financial Officer Frederick Eichiner talks with the magazine “Auto Motor und Sport” (release date: 7 October). “If I ’significantly’ say, I mean more than ten percent.” This was also necessary to achieve the projected return on sales of eight to ten percent in 2012. Read more…
Amazon sells reader “Kindle” in Germany
Seattle / Munich (dpa) – Online retailer Amazon.com will offer its “Kindle” reader in the future for electronic books outside of the United States. “Kindle is now also in Germany and” be bought over 100 countries around the world, “said Amazon CEO Jeff Bezos Deutsche Presse-Agentur.
The e-book offerings from Amazon.com currently covers only English-language titles, and no electronic books in German. “Our vision is to be able to deliver some point every book in every language,” said Bezos. Read more…
MUNICH – The commercial vehicle manufacturer MAN has a free path for the massive expansion of business in China. The Chinese authorities have approved the entry at the largest truck manufacturers in the country, Sinotruk, MAN said on Wednesday in Munich. “China is a market with high importance and great potential,” said MAN CEO Hakan Samuelsson, who will continue to sit as a group of four representatives on the Board of Sinotruk. Together the two companies plan to develop a new heavy truck range and bring under a new name on the market. Read more…
Frankfurt – The mood on the trading floor is not quite as positive as it was this morning. The DAX is to identify the hour with a minus of 0.01 percent to 5656.98 index points. The MDAX moves, however, at 0.81 percent, to 7359.41 on counter. The SDAX sets to 0.54 percent at 3518.61 points. The Nasdaq gaining 0.43 percent and is trading at 754.67 points. The Bund futures rises by 0.09 percent to 122.54 currently points.
The European statistics office Eurostat has produced its second estimate of gross domestic product for the second quarter. Accordingly, GDP declined in the euro area (EA16) Read more…
Matthews- The U.S. retail chain Family Dollar Stores Inc. (ISIN US3070001090 / WKN 859612) posted fourth quarter earnings increase.
As noted in a press release published on Wednesday, improved revenues at 1.81 billion U.S. dollars, representing an increase of 2.6 percent over the same period from 1.77 billion U.S. dollars. The comparable store sales improved by 1.0 percent. In net income to increase to 60.1 million was Designated dollars, or 43 cents per share, from a net profit of 53.2 million U.S. dollars and 38 cents in the NAV per share Period last year. CEO Howard R. Levine was in the context of the difficult overall environment very happy with the result and pointed out in connection with the increase in earnings in the prior-year margin improvements achieved and the increase in individual revenue per customer. Analysts had previously expected an EPS of 41 cents and revenue of 1.81 billion U.S. dollars. Read more…
Munich – The economic crisis makes for shrinking profits in the medium. Some 42 percent of companies expect 2009 with a yield loss, as the credit agency Creditreform announced on Wednesday in Munich.
Nevertheless, the business situation improved since the spring, the revenue forecast to increase slightly. Compared to the fall of 2008, however, the sentiment indicator fell by almost half, then the representative survey took place just before the outbreak of the financial crisis. Currently, the value is in the field of multi-year average. Read more…