Hot Economic News Releases

Gross domestic product (GDP) grew by U.S. a little more than expected in the second quarter, helped by consumer spending and export growth than initially estimated, according to figures released Thursday by the Commerce Department.

The final figure for growth in the U.S. economy was revised upward for the second quarter, up 1.3% of gross domestic product.

So a return to the first estimate, which was revised down to 1.0% in late August.Analysts had expected a growth rate of GDP revised up to 1.2%.

Final sales increased 1.6% against 1.2% in the first estimate and consumer spending were revised to 0.4% to 0.7%.

The PCE price index rose 3.3% over the quarter (revised from 3.2%). Economists surveyed expected an indicator to 3.2%.

The index "core", followed closely by the Fed, rose 2.3%, its largest increase since the second quarter of 2008.The previous estimate was 2.2%.

The figures released also show an increase in corporate profits after tax of 4.3% in the second quarter, the largest increase of this statistic in a year. The increase was only 0.1% in the first quarter.

Political tensions in the United States and the impact of the debt crisis in Europe have eroded confidence and fears of a return of U.S. recession.

The cautious optimism of economists now expects a further contraction of GDP will be avoided.Production companies continue to grow because, although at a slower pace since the beginning of the recovery.

In detail, the revised figures show, in fact more of a slower growing economy as a future recession.

Export growth is better than initially estimated at 3.6% instead of 3.1%. That of imports, however, is lower at 1.4% against 1.9%.

The trade deficit is less, and trade has contributed to GDP by 0.24 percentage point.

European countries can not borrow at the same rate of interest without common fiscal policy, said Saturday the German finance minister, Wolfgang Schäuble.

"Until we mutualisons not our financial policy we can not have a uniform interest rate. The interest rate differential is an incentive to have a strong economy or a punishment if you head hurt," said Wolfgang Schäuble.

"So the question is, how can we gradually promote political integration.We can not pool the interest rates, "he added.

The creation of bonds issued jointly by the countries of the euro area, some observers and officials consider one of the possible remedies to the debt crisis, was rejected Tuesday by Nicolas Sarkozy and Angela Merkel during their meeting in Paris.

The head of the French government and German Chancellor nevertheless proposed a strengthening of the economic governance of the euro area and some officials believe they open the way for Eurobonds.

The Australian airline Qantas announced Tuesday its intention to acquire 106 to 110 Airbus A320s at a list price exceeding $ 9.4 billion (6.5 billion euros).

Qantas has selected Airbus aircraft for two projects it intends to launch soon in Asia as part of a comprehensive restructuring of its international activities leading to the removal of a thousand jobs.

This will be a high-end company which will be based in Singapore or Kuala Lumpur and the Japanese company low-cost Jetstar.

The company plans to buy between 28 and 32 A320 and the rest will consist of A320neo, remotorisée version of the A320 which has allowed Airbus to replace its rival Boeing single-aisle market once dominated by the family of 737.

Qantas future plays double or quits by refocusing on Asia's international activities, which are losing money, said its CEO Alan Joyce. "To do nothing or to settle the issue would only guarantee half the end of our own International Qantas Australian market," he said.

Asia accounts for half of this year's profits of international airlines, according to estimates by the International Air Transport Association (IATA).

Alan Joyce said Qantas had to its international operations, a cost base 20% higher than its main rivals.

The company postponed to a later date the delivery of six A380 to preserve capital.

The search for safe havens continue to dictate trends in commodity markets, including the gold spot price Thursday crossed the symbolic threshold of $ 1,800 an ounce.

The yellow metal, mounted in the early hours of the day to 1,813.79 dollars per ounce, however, has folded mid-morning around 1775 dollars.

By 0800 GMT, the spot price reached 1,782.64 dollars.

"Gold remains the last bulwark against a possible issue of major currencies from the states, seeking to recapitalize their banks and boost their economies," said UBS in a research note.

Oil, which had closed up sharply Wednesday, continued to rise Thursday, after temporarily declining trend early in the day.

By 0800 GMT, a barrel of light crude gained 1.81% to 84.39 dollars, and that of Brent progressed from 1.0% to 107.75 dollars.

Since the rating agency Standard & Poor's downgraded the sovereign rating of the United States, Friday, Brent fell by about 4%.

Despite déteriodétériorationration economic outlook, which reduces the prospects for growth in oil demand, declining U.S. inventories unexpectedly announced Wednesday came to support prices.

The future of copper is meanwhile up 3.2% to 8.870 dollars per tonne, according to figures robust China's foreign trade for the month of July.

The leaders of the euro area defined by teleconference last week three main options to involve private creditors at the new rescue plan for Greece, according to a document prepared July 16 and that Reuters was able to obtain.

The first option would be based on a redemption of Greek debt and credit enhancement ("credit enhancement") to the private sector, but it would likely defect selective or comprehensive in the country.

The second, which could be based on a French rolling solutions (rollover) of the debt does not include credit enhancement and does not repurchase debt.

It would lead a selective default, the document warns.

The third, which would be less likely to trigger a selective default, provides for the taxation of the financial sector, and also offers lower rates and longer maturities on EFSF funds (European Fund for financial stability).

This solution does however cause Probal no default.

Sodexo confirmed on Wednesday by announcing its 2010-2011 targets an increase of 7.7% of sales in the first 9 months of the year in which emerging markets have achieved growth rates in double digits.

The world number two behind the catering Compass UK has published sales of 12.408 million euros marked by a growth of 5.2% and a positive currency impact of 2.6%.

Sales in the core business, catering and services, now grouped under the term "on-site service solutions", reached 11.888 million (+7.6%) with organic growth of 5.1%.

Those of service vouchers and cards (meal vouchers, gift vouchers), now "solutions motivations" were $ 532 million (+8.9% as reported and 6.2% organic).

Sodexo confirms forecast for the full year 2010-2011 a growth in sales "around 4.5%" and operating profit up "order" of 10% excluding currency effects.

Last April, Sodexo had raised its forecast for full year 2010-2011 showing a growth target of around 4.5%, whereas it previously was counting on an increase of 3 to 4%.

He said to remain "very confident" in its medium-term prospects, which include an average annual growth in sales of 7% and an operating margin of 6%.

By geographical area and in the industry "on-site service solutions", organic growth was 4% in North America, 3.8% in continental Europe and 15% in the rest of the world. But in the United Kingdom and Ireland, Sodexo shows a decrease of 0.2% internal.

Sodexo shares closed Tuesday at 53.95 euros.

The chief U.S. diplomat, given a candidate for the leadership of the World Bank in 2012, has no intention to run, according to senior U.S. officials. Secretary of State Hillary Clinton here in Washington January 26, 2011.

U.S. officials have categorically denied on Thursday reports that Secretary of State Hillary Clinton was the president of the World Bank. "This story is totally untrue," said Philippe Reines, a close adviser to Mrs. Clinton. The minister "had no conversation with the president (Barack Obama), the White House or anyone else about a departure for the World Bank," he said in an email to the press. "She has expressed no interest in this position" and "would not accept it if we offered him," saidQueens.

The White House also denied the reports by the voice of his spokesman, Jay Carney: "This story is false, completely false," he said.

Reuters, citing three unnamed sources, and now his story despite the denial, stated that the chief U.S. diplomat was in discussions with the White House to head the international agency next year, at the end the mandate of the current president of the World Bank, Robert Zoellick. The position is traditionally reserved for an American. "Hillary Clinton wants this job," said a source familiar with the secretary of state told Reuters. A source close to the World Bank told AFP that the United States were studying the possibility of a Clinton candidacy to head the international organization."This is a strong assumption, seriously they are working on," said the person familiar with the matter. "There are many signals" in recent months, particularly from the Treasury, "she added.

A Treasury spokesman who asked the AFP to confirm or deny this point said: "We will not comment."

Rumours about the future of Mrs. Clinton, 63, are recurrent since she took the head of American diplomacy in January 2009. Although she reported in March that she wanted to keep his job until at least the beginning of a possible second term of President Barack Obama in 2013. Clinton has also repeatedly stated that it wishes not to seek the U.S. presidency again, after its defeat in the 2008 Democratic primary against Barack Obama.

Good weather and measures to improve profit margins led to Kingfisher, the leading European home improvement, displaying a 19% increase in earnings in first quarter, a performance broadly in line with expectations.

The owner of brands B & Q UK, Castorama and Brico Depot in France and elsewhere, reported a profit of 174 million pounds (198 million euros) over a period of 13 weeks to April 30.

Analysts polled by Reuters expecting 178 million.

Sales at stores open more than a year rose 3.3%.This increase is 5.4% in France and 1.5% in the United Kingdom and Ireland.

Kingfisher has centralized its purchasing and also buys directly from suppliers cheaper, especially in Asia, which helped improve its margins.

Total has acquired 25% of an offshore exploration license in Qatar, said Sunday the state oil company Qatar Petroleum.

This deposit prospecting, "said Block BC, is located 130 kilometers east of the Qatari side and stretches over 5,600 square kilometers, at depths ranging from 15 to 35 meters.

China National Offshore Oil Company (CNOOC) Middle East Ltd, a subsidiary of CNOOC International, will remain the operator of the block with a 75%.

"This agreement (…) reflects Total's commitment to expand its exploration and production in promising areas of a geological point of view," said its CEO, Christophe de Margerie said in a statement.

The French oil company also holds 10% joint venture LNG Qatargas 1 and 16.7% in Qatargas 2 Train 5 and 24.5% stake in Dolphin Energy Ltd..

Total's production in Qatar has averaged 164,000 barrels of oil equivalent per day in 2010.

Airbus and its parent EADS were optimistic Tuesday about obtaining strong orders at Paris Air Show in June, amid renewed aviation sector.

The first global manufacturer to Boeing, which expects to 520-530 deliveries in 2011 and a number of gross orders above this range, recently decided to increase the production rate of its single-aisle A320s, its best-selling airplane .

"This should be a good show.The market is very active, "he told reporters Louis Welsh, CEO of EADS, when asked about the prospects of orders at the Paris Air Show.

Tom Enders, Airbus executive chairman, said of his side as the group expected a few more orders at Farnborough Air Show at Le Bourget (Great Britain) in July 2010.

John Leahy, Airbus commercial director, told Reuters that the manufacturer was on track to exceed the threshold of the 500 order commitments of A320Neo, the new version of remotorisée medium-haul by the Salon du Bourget to be held from June 20 to 26

Louis Welsh also held that the airline industry had learned from the cloud of ash from a volcano in Iceland who had paralyzed the European skies in 2010, after the entry into eruption of another volcano Iceland last Saturday.