Unemployment and inflation stable in the eurozone – Management Journal

Eurostat reported that the unemployment rate remained at 11.1% in June, unchanged for the third consecutive month. Moreover, annual inflation in the eurozone was 0.2% in July.

(AP) .- Unemployment and inflation remained stable in the euro area of ​​19 countries in the early summer, when the Greek crisis was at its peak and increased concerns about the prospects for monetary union.

The statistical agency European Union, Eurostat, reported today that the unemployment rate remained at 11.1% in June, unchanged for the third consecutive month, after falling in the previous months.

” This is the lowest rate in the euro area since March 2012, “said EU spokeswoman Natasha Bertaud. “We have now some encouraging signs. We have to continue along this path, “he said.

Of the countries using the euro, Greece has the highest unemployment rate with 25.6%. At the other end of the scale is Germany, with just 4.7% of its workforce unemployed.

The European Commission, the executive arm of the EU, has pressed hard to create measures to encourage employment and Starting this fall, the European Investment Bank will start selecting projects to invest in a program of 315,000 million that aims to create 1.3 million jobs.

Greece also has the highest youth unemployment rate in the euro with 53.2% in April, the latest month for which there are records. In contrast, the average unemployment rate among the under-25s in the euro area is 22.5%.

On the other hand, annual inflation in the eurozone was 0.2% in July, the same figure recorded a month earlier, but still below the target of European Central Bank 2%.

Economists have warned of the risk of a prolonged period of low or negative rates of inflation as it may discourage investment and spending. ECB this year launched a massive program of monetary stimulus for inflation to rebound, but is expected to take months for the rate increase significantly, especially after a fall in oil prices reduced pressure on consumer prices.

SPAIN: & iquest; Where est & aacute; Gas station m & aacute; s & iacute the pen cheap; nsula? – EntornoInteligente

SPAIN <- - AUGURE_NOTICIA_INICIO!>: Where is the cheapest gas station peninsula / Five days / The prices of petrol and diesel have matenido downtrend last week and have become cheaper by 0.9% and 0.7%, respectively, in the last week of July. They have also been located 8.21% and 13.7% respectively below the level marked on the same dates in 2014, according to the Oil Bulletin of the European Union.

In full operation in August output in which the DGT estimates that most of the movements of the summer season occur: 43.2 million, the prices of gasoline and diesel fuel is cheaper. Specifically, a liter of gasoline costs 1,307 euros and recorded his second reduction so far this month, after two weeks with slight ups and after year highs set in late June. As for the liter of diesel now costs 1,137 euros and chained nine consecutive weeks of declines since the peak of the year, which was reached in May, when it came to cost an average of 1,204 euros.

preicos current, fill a medium fuel tank 55 liters costs 71.88 euros, 6.4 euros less than a year ago. Whereas if the deposit is diesel costs 62.53 euros, almost 10 euros less than on the same date of 2014.

But what are the cheapest gas stations in the peninsula?

The station with the cheapest gas on the peninsula is found in Cadiz, specifically in the Puerto de Santa Maria, where the price per liter is 1,128 euros. Specifically, it is the service station La Victoria, located at the Rafael Alberti avenue. On the other hand, in Aragon also we find outlets with affordability of the same fuel, among which prices AGROPIENSO service station in Esplus (Huesca) and Bonarea station in the town of Bujaraloz (Zaragoza) . The latter station is where we can find the cheapest diesel, as the liter costs 0,940 euros. Competitive prices are also recorded in some service stations in the province of Navarra.

In the Community of Madrid, the cheapest diesel is available in Alcorcon and in Arganda del Rey, both Petroprix gas stations, where a liter costs 0,999 euros. The cheapest gasoline, meanwhile, is located at the station located at kilometer 3.1 of the road Torrejón Ajalvir, where you can find the liters to 1,174 euros.

Finally, if you travel to the Canary Islands, Ceuta or Melilla, you’ll refuel your vehicle at very low prices, because these territories are subject to lower taxation.

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BBVA more than doubles profit in the first half – Management Journal

The second largest Spanish bank surpassed its growth expectations for the months of January to June.

Reuters .- BBVA more than doubled its net profit in the first half compared to the same period last year, supported by extraordinary income of 583 million euros from the sale of a stake in the Chinese bank CNCB and solid margins.

Spain’s second largest bank by market value reported a profit of 2,760 million euros (US $ 3,000 million) in the first half, compared with forecasts of 2.434 million euros.

In the second quarter, net income rose 74% to 1,223 million euros , also above expectations.

The April-June profit was boosted by additional sales of 0.8% in the Chinese bank CNCB , which generated net capital gains of 122 million, which added to the 583 million sale of the 5.6% recorded in March.

The group net interest income rose 6.9 June % to 7,521 million euros, while the gross margin rose by 11.4% to 11.554 million euros.

Analysts had expected a net interest income of 7.412 million euros and a gross margin of 11,241,000 euros for BBVA .

As for solvency levels, BBVA closed the first half of the year with a core capital ratio in terms Basel III fully anticipated 10.4% compared to 10.8% in March.

SPAIN: Concerns foresight & oacute; n of creation & oacute; n employment Rajoy – EntornoInteligente

<- AUGURE_NOTICIA_INICIO -> SPAIN: Concerns job creation forecast Rajoy / Five Dias / The Independent Authority Fiscal Responsibility (trade show) has endorsed the economic forecasts included in the State Budget 2016. The report released today by the watchdog public accounts considered likely that the estimates are met government.

However, he warns that the government of Mariano Rajoy is very optimistic in the workplace. Moncloa estimates that employment in national accounts terms increased by 3% in 2015 and 2016. Fiscal Authority believes this government forecast can come to pass, but warns that it is more likely to be lower.

It also raises questions the evolution of public consumption, which the government estimated to increase by 0.1% and 0.3% next year. The trade show, which forecasts from international organizations and research services produces a range of trust, notes that the estimation of the Executive is very demanding. The report indicates that the Government is forced to include a very subdued public consumption because the deficit target for 2016, which is 2.8% of GDP, is very demanding. “A relaxation of discipline to control public spending would have a negative impact on budgetary stability,” he argues.

In fact, the body detects more internal than external risks. Still, he warns of factors such as rising oil prices faster than expected or increased market tensions. Other factors such as higher depreciation of the euro or the rate cut could play in favor of Spain.

On the other hand, the trade show asks the Government to publish the methodology, assumptions and parameters that hold forecasts . Moncloa

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Spain keeps growing economy – Azteca News

Madrid, Spain.-Gross Domestic Product (GDP) of Spain in the second quarter of 2015 grew 1.0 percent compared to 0.9 percent in the first quarter, reported the National Institute of Statistics (INE).

The agency said that the advance GDP figure is one tenth higher than the January-March period and 3.1 percent in annual terms.

The data coincides with the spread last June by the Bank Spain . The government forecasts economic growth in 2015 are 3.3 percent and 3.0 percent for 2016.

Santander reported a 24% rise in first half profit – Financial Journal

Santander closed the first half with an ordinary attributable profit increased 24% to 3.426 million euros, scoring earnings increases in all major countries in which it operates. Spain, excluding the real estate business is the fastest growing, with an increase in profit of 50% to 771 million euros country.

UK and Brazil, meanwhile, were the units that contributed more to the account. Santander UK won 1,029 million euros, up 33% (18% excluding the effect of exchange rates) and Santander Brasil 1,007 million, an increase of 33% (39% excluding the exchange rate).

In the first half, the effect of the exchange rate is favorable for the group accounts, the depreciation of the euro against the pound sterling and the dollar.

Director group executive, Jose Antonio Alvarez, said the first half results allow us to confirm the objectives for 2017 that the group shared with the market in February.

Santander reduced its arrears to 4.64 %, down 81 basis points from June 2014, while the coverage ratio improved to 70.1%.

group Doubtful assets stood at 39,154,000, . 4.4% less than a year ago

The bank has confirmed that in August will pay a dividend entirely in cash per share of 0.05 euros

.

Spanish bank BBVA more than doubles profit in the first half, exceeded expectations – Reuters

       

MADRID (Reuters) – BBVA said Friday its net profit more than doubled in the first half compared to the same period last year, supported by extraordinary gains 583 million euros from the sale of its 5.6 percent stake in the Chinese bank CNCB.

       

Spain’s second largest bank by market value reported a profit of 2,760 million euros (3,000 million dollars) in the first half, compared with forecasts of 2.434 million euros.

       

In the second quarter, net income rose 74 percent to 1.223 million euros, also above expectations.

       

Meanwhile, the Group net interest income to June rose 6.9 percent to 7,521 million euros, while the gross margin rose by 11.4 percent to 11.554 million euros.

       

Analysts had expected a net interest income of 7.412 million euros and a gross margin of 11.241 million euros.

       

($ 1 = 0.7177 euros)

        
       

(Reporting by Sarah White. Published in Spanish by Carlos Aliaga)

       
          © Thomson Reuters 2015 All rights reserved.

Analgesic instead of surgery – The Observer

Freezing prices, as requested by the government to trade, is a flawed and ineffective way to fight inflation. You can provide some temporary relief at a time when the Consumer Price Index (CPI) threat approaching double digits. But nothing helps sustainable control inflationary pressures goal for which the government has genuine measures. Except for occasional interventions by the Central Bank selling currencies or changes in reserve requirements or interest rates, nothing can be done to stem the rise of the dollar and its inflationary impact. Not only it is valuing worldwide, but there is no choice but to accompany the devaluation of local currencies in major markets such as Brazil and Argentina, and other countries in the region, unless it is accepted still lose more competitiveness.

There are, however, instruments that depend on the government, but require management firm and a tax system that so far has not materialized. On the one hand there is the moderation in prices of public services, as it did for a while the Mujica administration last year. But it has gone the opposite way with increasing fuel, trying to clean up some deficits pressing ANCAP cost inflation to rise. It can also act on wage policy, which directly affects the CPI. The government says it will impose restraint, both in private settings and public sectors. But it is uncertain how far they face widespread trade union uprising in almost all areas of activity. Another suitable measure is to lower public spending, but little is being done on that front.

Before the horizon inflation overshadowed the government has promised a more restrictive wage policy in line with GDP growth uncertain which tends to less than 2%, plan to depend on its ability to withstand the onslaught union. Also plans to reduce spending in some areas within the constraints of the budget rigidities. But nothing is said about lowering utility rates or adjust spending more severely, even at the cost of postponing some investments.

You have resorted instead to undesirable patch an agreed price controls on items Basic consumer, as it did the previous government. Leaders of business associations, large supermarkets and economists agree the difficulty to freeze or reduce prices at a time when the exchange rate and wage increases to push up. And although trade access somehow the government order, the effect will be short and limited and that in the case of a voluntary agreement, will depend on a business arrangement that not all will comply. The artificiality of any form of price control was evident in his failure ever to be tried. Of more significance is even attacking the symptoms of inflation and its causes, as if a doctor faced the cancerous tumor of a patient with a painkiller instead of surgery.

Source:

Spanish bank BBVA more than doubles profit in the first half, exceeded expectations – Reuters Mexico

MADRID , July 31 (Reuters) – BBVA said Friday its net profit more than doubled in the first half compared to the same period last year, supported by extraordinary gains of 583 million euros from the sale of its 5.6 percent stake in the Chinese bank CNCB.

Spain’s second largest bank by market value reported a profit of 2,760 million euros (3,000 million dollars) in the first half, compared with forecasts of 2.434 million euros.

In the second quarter, net income rose 74 percent to 1,223 million euros, also above expectations.

For its part The group net interest income to June rose 6.9 percent to 7,521 million euros, while the gross margin rose by 11.4 percent to 11.554 million euros.

Analysts had expected a net interest income of 7.412 million euros and a gross margin of 11.241 million euros.

($ 1 = 0.7177 euros) (Reporting by Sarah White . Published in Spanish by Carlos Aliaga)

© Thomson Reuters 2015 All rights reserved.

The Spanish GDP grew 1 percent between April and June – Daily Online

Spanish & gt; & gt; Economy

UPDATED: 07/31/2015 – 8:48

Words Key:

MADRID, July 30 (Xinhua) – The Spanish economy continues its recovery whose gross domestic product (GDP) grew by 1 percent in the second quarter of the year, involves eight quarters in a row with growth, reported the National Statistics Institute (INE).

In quarterly terms, says the INE, this is the highest growth rate since the first quarter of 2007, when it reached 3.6 percent.

Meanwhile, the Bank of Spain (BE) said that this growth is driven by domestic demand, as the contribution of the external sector was neutral and spending in household consumption have remained in the second quarter of 2015 the expansionary level it had in early 2014, highlights the BE.

In addition, says the agency, the data for the second quarter was particularly good in the tourism sector and job creation at its best quarter in a decade.

The Spanish government estimates that the Spanish economy will grow this year by 3.3 percent and 3 percent for 2016, . although the forecast of the Bank of Spain is 3.1 percent in 2015 and 2.7 percent for next year

Related articles:

SPAIN: The pensions will rise by 0.25% in 2016, the legal minimum – EntornoInteligente

SPAIN <- - AUGURE_NOTICIA_INICIO>: Pensions will rise by 0.25% in 2016, the minimum legal / Expansion / The Government has moved Thursday to unions contributory and non-contributory pensions is expected to rise by 0.25% in 2016.

That is, index applies revaluation included in the Last renovated. Thus, it will be the third consecutive year that pensions up to that amount.

This has been indicated to Europa Press union sources after, post held Wednesday at the Inmserso and which will be meeting in the General Council of the National Institute of Social Security (INSS) expected out this afternoon at the Public Employment Service (SEPE), before the Cabinet approves the draft Law on State Budget (PGE) for next year.

The same sources pointed out that the Government has taken this information “verbally”, without having mediated a previous document, which “is reserved the possibility of last minute changes.”

The Economy Minister Luis de Guindos, advanced Thursday that sustainability on pensions and revaluation formula introduced by the latest pension reform, which takes into account “the law will be” the income and expenditure system and establishes a minimum increase of 0.25% and a ceiling of CPI plus 0.50%.

This decision would stand on the expectation that the Social Security incurred a deficit of 0.3% of GDP next year, as planned in the last Stability Plan.

In addition, the Government has informed the unions that the estimated budget of the Social Security spending would be 140.933 million euros, 3.5% more than in 2015, equivalent to 10 , 4% of GDP. As entitlement spending would amount to 136.814 million euros, 3.09% more.

In addition, personnel costs totaled 1.51%, which in the view of the unions imply a wage increase of between 0.5% and 1%, once discounted rate replacement staff.

In addition, the Government has moved to the unions that plans to increase the maximum and minimum contribution bases around 1% for both the General Regime workers and the self.

At this point, the unions complain that the government ignores the mandate of the Toledo Pact moving towards an equalization of contribution bases of both regimes.

They explain that the contribution bases of the autonomous hovering around 900 euros, which should experience higher than in the general scheme increase as it has in previous years.

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The Dow turns lower at midday – Investing.com Spain

MADRID (Reuters) – The Madrid Stock Exchange trading with slight losses in the middle of a session in which shone Grifols (:) and Mediaset MADRID (MADRID sank amid the avalanche of corporate results.

“It’s a day of low volume and quiet waiting for macroeconomic reference, while the results have been mixed: good in Telefónica (MADRID neutral Repsol (MADRID and worse than expected for Santander, “said Juan Carlos Castillo, director of analysis at Capital Bolsa, citing three major companies in the Ibex who upgraded their accounts on Thursday.

At the international level, the meeting of the Fed Eve, who left the door open to a possible rate hike in September, I was a big surprise, as investors continued to closely following news about a possible early elections in Greece, suggested and then denied by their governments.

At 12.11 hours, the Ibex-35 was left 0.21 percent to 11,259 points, while the pan-European FTSEurofirst was up 0.63 percent.

The rental market fixed differential of the Spanish bond to ten years regarding the German relaxing three basic points to 126 basis points.

Santander (Madrid the Ibex ballasted with a fall of 1.5 percent in counter their sector, despite raising its ordinary net profit to June by 24 percent.

“The results were below (in net profit) mainly due to lower trading income and costs somewhat higher in the US than offset a better margin, “he said Citigroup (NYSE:).

Repsol also contributed to the downward trend, falling 2.4 percent, after 20 percent decrease in adjusted net profit hit by lower prices and a small loss the first contribution of Talisman (TO accounts.

Telefónica exercised counterweight advancing 0.8 percent after announcing an increase of 70 per cent of its profit in the second quarter.

Two median values ​​were the protagonists of selective Grifols soared nearly 6 percent by improved sales, while Mediaset Spain, sank 8 percent after its results awakening little enthusiasm among investors, faces that were considering actions which have risen 20 percent so far this year.

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SPAIN: The Government upload & aacute; pensions 0.25% in 2016 – EntornoInteligente

<- AUGURE_NOTICIA_INICIO -> SPAIN: The Government pensions will rise 0.25% in 2016 / Cinco Dias / This has been indicated to union sources Europa Press after the meeting of the General Council of the National Social Security Institute (INSS), post-it held Wednesday in the Inmserso and which will be expected out this afternoon at the Public Employment Service (SEPE), before the Cabinet approves the draft Law on State Budget (PGE) for next year.

The same sources pointed out that the Government has moved this information “verbally” without that mediated a previous document, which “reserves the possibility of last minute changes.”

The Economy Minister Luis de Guindos, advanced Thursday that sustainability on pensions and revaluation formula introduced by the latest pension reform, which takes into account the costs and revenues of the system “the law applies” and sets a minimum rise of 0.25% and maximum cap of CPI plus 0.50%.

This decision would stand on the expectation that the Social Security incurred a deficit of 0.3% of GDP next year, as planned in the last Stability Plan.

In addition, the Government has informed the unions that the estimated budget of the Social Security spending would be 140.933 million euros, 3.5% more than in 2015 , equivalent to 10.4% of GDP. Only entitlement spending would amount to 136.814 million euros, 3.09% more.

In addition, personnel costs amounted 1.51%, which in the view of the unions imply a rise salary of between 0.5% and 1%, after deducting personal restocking fee.

In addition, the Government has moved to unions plans to increase the maximum and minimum contribution bases in around 1% for both the General Regime workers and the self.

At this point, the unions complain that the government ignores the mandate of the Toledo Pact to move towards a leveling of bases contribution of both regimes.

They explain that the contribution bases of the autonomous hovering around 900 euros, which should experience higher than in the general scheme increase as it has in previous years.

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The fuels are cheaper on the eve of the August output operation – Yahoo Finance Spain

Madrid, July 30 (EFE) .- The motor fuels have become cheaper slightly this week, on the eve of the operation out of traffic traditionally associated with the summer holidays August.

According to the European oil bulletin consulted by Efe, this week gasoline costs an average of 1,307 euros per liter, 1.06% less than last week and 1.36% less than one month

ago. Similarly, diesel costs an average of 1,138 euros per liter in the Spanish gas stations, 0.6% less than last week, which accumulated a cheapening 3 31% in the last month.

Despite these sales, gasoline and diesel now cost 13.55% and 3.27% higher, respectively, earlier this year, when the collapse of oil associated with the oversupply led the price per barrel below $ 50.

This fall in the price, which began in late summer of 2014, explains that the price of gasoline 8.22% is placed below a year ago and diesel, 13.66% below.

Also, gasoline and diesel cost 14.13% and 21 25% lower, respectively, than in the marked record highs in September 2012

.

Spanish economic growth accelerated in the second quarter – Reuters

MADRID (Reuters) – The Spanish economy grew in the second quarter of 2015 at the fastest pace in eight years, coinciding with a recovery in consumption

.

In the April-June period, the Gross Domestic Product (GDP) expanded on January 1 , 0 percent to a quarterly rate, its eighth consecutive increase, and by 3.1 percent year on year, according to provisional data released Thursday by the National Statistics Institute (INE).

The Bank of Spain had anticipated a quarterly increase of 1.0 percent.

A Reuters survey also pointed to a quarterly rise of 1.0 percent of GDP in the second quarter and a growth of 3.1 percent.

first quarter of 2015 the economy grew 0.9 percent on-quarter and 2.7 percent year on year.

The Spanish government expects for the full year an expansion of 3.3 percent.

(Reporting by Robert Hetz; edited by Carlos Aliaga via Mesa Santiago)

© Thomson Reuters 2015 All rights reserved.

Spanish economy grew 1% during 2Q – The Economist

The Spanish growth continued to accelerate in the second quarter with a rise in GDP of 1% compared to the previous quarter, according to provisional data released Thursday by the National Statistics Institute.

The Spanish growth continued to accelerate in the second quarter with an increase of Gross Domestic Product (GDP) of 1% compared to the previous quarter, according to provisional data released Thursday by the National Institute of Statistics (INE).

In the first quarter, growth reached 0.9% year on year variation, GDP increased 3.1% between April and June, the INE said without specifying the sectors that contributed most to the rise.

On the other hand, the agency said -in a first estimate-that the evolution of prices was zero in July compared to the same period last year, due mainly to the fall in fuel prices .

“If we take the first half, practically is a growth of 3.8%, which is a very high growth, and that is combined with a non-existent inflation and positive developments in consumption and exports” Minister of Economy, Luis de Guindos, welcomed on Thursday in an interview with Onda Cero radio.

This low inflation will continue over the coming months and will increase at year end, according to the monthly newsletter European Central Bank published on Thursday, so Spain dodge the risk of deflation as its economy continues to accelerate.

But while “out of recession, we have not yet emerged from the crisis,” admitted Minister, recalling for example the high unemployment rate of 22.4%, the second highest in the EU after Greece.

Since 2014, the fourth largest economy in the euro area generated about half a million jobs although most were precarious, temporary or part-time.

In addition, high debt of the country, equivalent to almost 100% of GDP, makes this recovery still vulnerable, the minister said.

After five years of recession and stagnation triggered by the bursting of the housing bubble in 2008 coupled with the global financial crisis, the Spanish economy began to recover in 2014 with growth of 1.4% of GDP.

But the effects of the recovery will not reach all the Spaniards, who saw poverty and unemployment soared in recent years. Currently, half of the 5 million unemployed do not receive any benefits.

“We closed what the recession, but we have to recover what we have not grown during those years,” said De Guindos.

ERP

Growth has picked up in Britain – The Economist

The Gross Domestic Product (GDP) grew 0.7% in the April-June period, in line with forecasts of economists, after expanding 0.4% in the first quarter, the Office for National Statistics (ONS, for its acronym in English) in a preliminary estimate.

The British economic growth back on track in the second quarter of 2015, after a rebound in the dominant services sector and one of the largest increases in oil and gas production in a generation.

The Gross Domestic Product (GDP) grew 0.7% in the April-June period, in line with forecasts economists, after expanding 0.4% in the first quarter, the Office for National Statistics (ONS, for its acronym in English) in a preliminary estimate.

The production in the second quarter was 2.6% higher than the previous year, also in line with projections.

“After a decline in the first quarter of 2015, the overall GDP growth returned to normal in the previous two years” said Joe Grice, chief economist at the ONS.

Britain recorded its highest growth in eight years, and earlier this month, Mark Carney, Governor of the Bank of England, said the decision on when to raise interest rates will become a focus of attention at the end of the year.

Economists believe that only a minority of those responsible for the institution will vote to raise rates at the meeting of the entity next week, amid signs of a strengthening in the growth of wages and an economy operating at near full capacity.

The preliminary GDP reading is, above all, a statistical estimate when lack gather over half of the data, so the figures are often revised later.

Official data published on April and May previously showed weakness in construction and manufacturing, where exporters battling a pound strongly and figures on Tuesday showed that the services sector is leading the growth.

The services responsible for over three quarters of the economy, rose 0.7% in the quarter, after rising 0.4% in the first three months of 2015.

The ONS figures showed a decline in manufacturing output by 0.3%, its first quarterly decline in two years, although the increase in oil and gas production in the North Sea raised the general industrial data to 1%, the largest increase since the end of 2010.

The division of “mining and quarrying” in industrial production, which includes oil and gas , grew 7.8% in the quarter, the biggest advance since 1989.

Disneyland Paris defends its pricing policy – El Diario de Yucatan

         

     

PARIS (EFE) .- The recreational complex Disneyland Paris today defended its pricing policy, which is investigating the European Commission (EC) to the consumer complaints by the different rates charged on the basis of nationality.

“We have not had contact with the EC on this issue,” an official told EFE spokesperson for Disneyland Paris after Brussels confirmed that is considering the complaints of some tourists to see if the different prices contravene the European directive services.

The newspaper “Financial Times” had echoed the complaints of British citizens to pay higher price for a stay in the European Disney park a family of Belgian or French.

According to the newspaper, a French family paid 1,346 euros for the stay, a British and a German 2,447 1,870.

The spokesman amusement park and resort hotel located on the outskirts of Paris held that Prices at the box office are exactly the same for everyone and justified differences in promotional deals with three arguments.

The first concerns the dates chosen because “countries are not the same holiday time, necessarily. “

The second point put forward by the theme park is related to the time of booking, as the British book 6 months in advance of the French media and routinely block two or three holidays months before the chosen date.

Finally, the source stressed that “all visitors looking the same.”

“For example, the Spanish prefer longer stays of up to five days, while the Italians will matter more than the offer includes transportation and others worry about having half board, “he said.

Disneyland Paris added that, on the website where the deals appear, you can change the country of purchase, check current offers in another territory and call the company to book a package determined not present, a priori, in the country where the user launches the search.

               
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Santander won 3.426 million until June, 24% more, more income – W Radio

Madrid, July 30 (EFE) .- The Banco Santander net earned 3.426 million euros in the first half of the year, representing an increase of 24% from a year earlier due, among other reasons, increased revenues , the exchange rate and lower provisions recorded.

In a statement sent today to the National Securities Market Commission (CNMV), the bank explained that the business grew in ten key markets where it operates and adds that in Spain, net profit rose 50% and reached 771 million euros, after cutting costs as well as transfers to provisions.

The company has not included in these accounts capital gains of 835 million euros expected by analysts, who come from some provisions that have been released after resolved the dispute that kept the Brazilian subsidiary with social security in the country, but that has to strengthen capital ratios.

As it explains the president of the bank, Ana Botin, half-yearly accounts “reveal the strength and recurrence Santander model” in improving the business and “profitability, operational excellence and credit quality. “

The customer loans grew 13.1% to 799.233 million euros, while deposits rose 11.4% and totaled 687 900 million and deposits and funds Investment increased 12% and totaled 823 482 000.

This loan portfolio recorded at the end of June NPL ratio of 4.64%, with an annual decline of 0.81 points after the delinquencies in the second quarter were reduced by about half over the previous year.

By country, the bank points out the increase in net profit in Spain, where costs fell 4% and provisions grew by 37%, while credit remained stable and resources grew 6% year.

It also improved net profit in the nine markets that the bank considers key, especially in the UK and Brazil.

In the UK, the company earned 1,029 million euros, 33%, with an increase of 5% in revenues and a 60% drop in provisions, while credit It grew 4% and resources, 5%.

Brazil, meanwhile, saw net income grow 33% to 1,007 million euros, an increase of 9% of revenues , double the costs. Lending increased 16% and customer funds, 13%. EFE

Volkswagen dethrones Toyota in worldwide sales – La Opinion

         Earlier than planned, the German overtook Japan in the race to be the No. 1 automaker in the world
 

 

  Volkswagen edged out Toyota in global car sales.
 

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The Volkswagen group overtook Toyota to become the largest automaker by deliveries in the first half of the year, which The German company is in track for the crown of largest seller of cars in the world , three years ahead of schedule.

Toyota sold 5.02 million vehicles in six months to June, behind the Volkswagen reported 5’040,000 earlier this month. Deliveries 1.5% to 0.5% for Toyota and Volkswagen declined. The figures include sales of Toyota and Daihatsu models Hino brand heavy trucks. VW numbers include the brands MAN and Scania trucks.

Volkswagen benefited from the demand for cars in Europe which accelerated at the fastest pace in five years and a half, which softened the blow of the slowdown in China, its largest market.

To achieve its goal set in 2007 to become the world’s largest automaker, Volkswagen will have to endure the fall in demand caused by the market volatility China values ​​ and competition from cheap SUV models manufactured by Chinese brands.

A global auto industry that has expanded each year since 2009 is facing a slowdown in China, the collapse of demand in Russia and the weakness in some Southeast Asian countries and South America.

US industry deliveries rose just 4.4% in the first half the year, putting the market on track for its lowest annual gain since the recovery began.

Fed date yet to raise interest rates – Azteca News

Washington, DC, EUA.-The US economy and the labor market continue to strengthen, said Wednesday the Federal Reserve leaving the door open to a possible increase of rate when officials US central bank will meet again in September.

After a two-day meeting, members of the monetary policy committee of the Fed believed that the economy had overcome the slowdown in first quarter, “expanding moderately”, despite a drop in the energy sector and headwinds from abroad.

The central bank particularly highlighted “the strong employment growth” in recent months. “In sum, a series of labor market indicators suggest that the underutilization of labor resources has declined since early this year,” he said Fed in its policy statement that interest rates remained without changes.

The text highlights an improvement in vision of the Fed on working conditions since its June meeting.

The statement will likely strengthen expectations of a rate hike at the meeting of the Fed in September. The US central bank has kept interest rates close to zero since December 2008 as part of its efforts to boost the economy after the financial crisis 2007-2009.

However, the Fed offered no clear signal on its plan for rate . Instead, he said he wanted to see “a greater improvement in the labor market” and gain more confidence that low inflation will accelerate towards its medium-term target of 2 percent.

The statement Federal Committee on Open Market also retained the previous text to indicate that the risks are “almost balanced” suggesting that the Fed is still more concerned about a new turn in the economy instead of a quick acceleration inflation.

Officials Fed and market analysts have been assessing the economic situation to determine if the weak growth in the first half of the year pointed to the beginning of the end of the economic expansion or whether it was merely a pause.

The verdict seems more firm. “The Fed is taking small steps toward up rate . It has advanced enough in the labor market so that the Fed only needs a little more evidence to say that it is time, “Brian Jacobsen, chief strategist at Wells Fargo Funds Portfolio Management.

Most economists forecast that US economic growth will accelerate after a warm progress in the first half of the year and the Fed will begin its monetary tightening in September, according to a Reuters poll released last week.

n Thus, the major banks Wall Street still point to September as the most likely for the Fed starts its tightening, according to another Reuters poll released earlier this month moment.

While inflation remains weak, the statement drew an economy that continues to advance, with an unemployment rate of 5.3 percent and a stable job creation.

Without any meeting scheduled for August, the Fed have two months to analyze economic data before deciding whether raises rates for the first time since 2006. There was no dissent among members of the Fed for the decision.

Volkswagen beats Toyota – The Economist

The German group reported on July 17 deliveries of 5.04 million in the first half of the year.

In comparison, Toyota said Tuesday it sold 5.02 million cars between January and June, down 1.5% and compared to last year’s levels.

Toyota, which has plans to announce its first quarter earnings next Tuesday, said sales were pressured by a des acceleration in emerging markets and increased taxes on small cars in Japan.

The rapid expansion of VW hidden poor performance in the United States and Brazil, where the company has been slow to modernize models and adjust their offer to market trends, analysts said.
But staying on top will be a challenge for the German manufacturer the Golf and Polo models, and that deliveries are falling in China, the destination of a third of its global sales, which increasingly relies relatively crippled demand in Western Europe.

Funds @ elEconomista .com.mx