The governor of the Bank of England already knows when he will leave the position in June of 2019. As announced the own Mark Carney, noting that it will remain at the front of the body until the end of the Brexit, as it is known the procedure of separation of the European Union (EU).
In a letter to Philip Hammond, minister of Economy, Carney explained that resign on that date because it already should be completed in the process of Brexit, since theoretically it is expected that the negotiations of rupture take two years, once the british government’s active officially in march 2017 article 50 of the Lisbon Treaty.
With this letter, the governor of the bank of england gives clarity on his future, as in the past has been between the sword and the wall to relinquish the position whose period is 2013 to 2018, but with the possibility of extend up to 2021.
The banker promised to help mitigate the uncertainty that can generate the Brexit and to "contribute to an orderly transition in the new relationship between the Uk and the EU".
Lee: Audios reveal the "true" position of May on the Brexit
on the one hand, the members pro Brexit from the Conservative Party to accuse Carney of "politicizing" his office during the referendum campaign to warn of the economic risks that would result from breaking with Brussels; and, on the other hand, the first minister Theresa May has criticized its monetary policy measures to consider that contribute to increase inequality in the Uk.
After replacing Mervyn King in 2013, Carney concludes his mandate in 2018, but he had the possibility to renew until 2021 if I wanted to, thanks to a change in uk law, but you already clarified that you will leave the boat until 2019.
Five Days / The industry of private pensions as well as savings and investment in general (treasuries of banks, reserves, insurance, etc) are facing a serious problem in these times. In the case of the sector of the private pension funds, given its composition distinctly conservative and the fact that we are nearing that time of the year where they concentrate a good part of the contributions of money to the same, is especially relevant.
Being very specific there is a large amount of money in pension plans, fixed income plans and mixed income conservative (more than half of the sector) where the underlying investment, private and public debt spain and the euro zone, has expectations of profitability in the best of cases they are not even able to cover the costs of management of these funds.
that Is to say, the expected return to shareholders is negative, or said another way they have almost guaranteed losses. This possibility of slight losses or moderate is quite likely in such a scenario markets are benign or neutral, but in a scenario of markets are not so benign where to produce situations anything disposable as increases in types or increases in the risk premiums (usually accompanied by falling bags) the losses can be considerable and certainly very much higher than you can expect or support a participant through in this type of funds.
we Can do some calculations with a typical case environment where the portfolio of a pension plan is essentially composed Spanish bonds and the euro zone’s public and private good quality with a duration contained, say, five years or less. Well, the gross expected return of a portfolio like that in a scenario benign can be moved in a reasonable range of 1-2%.
it Turns out that this is precisely the average cost to apply, and they incur the management of the pensions in Spain in this type of funds so that many of these plans have a perspective of profitability zero or moderately negative to a year. However, if problems occur the scenario benign would not end there but that is agravarían. The obtaining of such profitability would be as a result of which the types or yields of the fixed income continue to fall to zero or are positioned in negative territory and risk premiums are comprimieran to the maximum extent possible, or in other words, getting to the nonsense that there were no risk premiums.
At that point the expectation of profitability likely annual net to the shareholder would be of the order of -2%, which are basically the total cost loaded media to the pension plans in Spain. Of course, all this assuming of new scenarios benign of stability in rates and risk premiums because in the event that the volatility and the risks (which, moreover, some of the investors most successful and recognized in the investment industry worldwide are forecasting) materialize, the losses in some of these products “conservatives” could be perfectly in the environment of -5%/-10%. In the case of funds with investment policy mixed conservative or mixed moderate losses may also be considerable, and potentially much greater if they were accompanied by falls of the bags Spanish and european, which is where you basically focus the investment of these funds out of fixed income
The resolution to this problem if one, as an investor in a pension fund does not want to take those results and risks, is complicated. A relatively simple is to go to a fixed income fund with the lower fees and lower level of risk, although it does not significantly improve the results as expected in the scenario benign will, in the not benign, thanks to portfolios with higher quality and lower durations as well as lower costs. Another is to increase the levels of risk, through investment in mixed backgrounds that have an allocation moderate to equities, or by investing in plans that invest in corporate bonds of low quality but higher performance. However, these two options can lead to a loss of the order of 10% in a scenario of markets that complicate it.
Another option, though very scarce in the panorama of the private pensions Spanish, is investment in pension plans with a policy of discretionary and profile of low risk that is at the margin of the active classics that are bonds and equities. It would be to get a small positive return or at least avoid significant losses by investing in alternative assets, and liquids with a low risk of that you are able to extract some surplus value. Philosophically, it would be situated at the margin of the grave risks that grip the active classics, until they are best times for investment.
General Electric Co will merge its business area of oil and gas with the service provider to reservoirs Baker Hughes Inc.
With this, the company will have a participation of 62.5% in the new company, which will have combined revenue of 32,000 million dollars, while the shareholders of Baker Hughes will have a 37.5%.
The shareholders of Baker Hughes, which has a market value of around 26,000 million dollars, will have a dividend solely in cash of 17.50 dollars per share after the close of business, stresses the Reuters news agency.
Lee also General Electric will provide technology to CFE to reduce costs
The agreement takes place after the merger planned for Baker Hughes with his biggest rival Halliburton Co it fell apart in may because of opposition from regulators. That business was valued at 34,600 million dollars when it was announced in November of 2014.
GE and Baker Hughes indicated that they are in talks about possible partnerships, but did not divulge details.
businesses reported Monday that they expected that the agreement will add 4 cents to the earnings per share of GE by 2018, and 8 cents to 2020.
The Wall Street journal reported on the talks between GE and Baker Hughes.
The shares of Baker Hughes rose 5.7%, to 62.50 dollars, in the operations previous to the opening of business on Monday, while the GE advanced 0.9%, 29.48 dollars.
BRUSSELS (Reuters) – An ethics committee of the EU has been considered that the former president of the European Commission Jose Manuel Barroso not violated any rules by accepting a job at Goldman Sachs, but said that it did not show the “considerate judgment” that is expected of someone of his political height.
The former Portuguese prime minister received great reviews when she joined the us investment bank as an advisor to the Brexit, with critics pointing to the movement to further reducing the public’s confidence in the European Union after the vote of the Uk in favour of leaving the bloc.
The president of the European Commission, Jean-Claude Juncker, launched an ethics investigation unprecedented in September to determine whether Barroso had breached the code of conduct of the Commission.
“there is Not a sufficient basis to establish a violation of the duty of integrity and discretion (…) in relation to the acceptance of the former president Barroso of a position of non-executive chairman ( … ), and counselor-linked business (of Goldman) with their client,” said the Ethics Committee.
But in its decision, published on Monday, the panel also said that Barroso “has not shown the trial considered that one might expect of someone who has had the high position that he has occupied for so many years.”
The decision failed to satisfy the advocate of the people of the EU, Emily O’reilly, who said that sopesaría the next steps, including the opening of an investigation on the matter.
“Given the concern continues to be expressed about the appointment of lord Loams and the existing Code of Conduct, the advocate of the people now reflect on the next steps – including a possible investigation – that it will take in relation to this important issue,” said O’reilly in a statement.
he Also said that the Ethics Committee seemed to have based his research only on three documents already in the public domain, without requiring other files or interview people relevant. Continued…
In the picture, the former president of the institution, José Manuel Durao Barroso. EFE/File
MADRID (Reuters) – The selective of the Spanish stock market kept falling Monday media session in a day of consolidation following the rise in the accumulated of the last week of more than one percent, while the macro-economic data also offset the trend.
In Japan, gave a loose data and industrial production in Germany to retail sales in September disappointed the dial a minimum of two years.
“There is a slight selling pressure by a consolidation process (…) in anticipation of meetings of several central banks that, in principle, will not give surprises significant but are holding onto the money,” said Juan Carlos Castillo, director of Analysis of Capital Stock.
The US Federal Reserve begins on Tuesday their two-day meeting of the Committee on Open Markets, while the Bank of Japan holds a meeting on monetary policy that is expected to end on Tuesday.
At 12:04 hours, the Ibex-35 (.IBEX) went down a 0,62 percent to 9.144 points. The pan-european STOXX 600 (.STOXX) lost 0.5 percent.
In Spain, financial values and Telefónica were the few that were enduring in the positive. Caixabank (CABK.MC) rose 0.76 per cent, accompanied by Sabadell (SABE.MC) (+0.40 per cent) and Santander (SAN.MC) (+0.06 per cent).
In exchange, BBVA.MC (BBVA.MC) regressed 0.15 percent. The rest of the banking median also fell in a range between 0.36 percent and 0,98 percent.
Telefónica (TEF.MC), had a 0.15 percent after heavy falls last week by announcing his plan to cut dividends.
Among the big losers, the manufacturer wraps the meat and Viscofan (VIS.MC) fall back again a 2,23 percent, after being presented Thursday to close some accounts, worse-than-expected as it continues to be penalised by the decrease in the consumption of processed meats.
however, the falls were led by Cellnex (CLNX.MC) with cuts of 3,35 percent, despite having submitted the Friday results are in line with expectations.
In the meantime, Inditex (ITX.MC) fell to 0.64 percent, while Repsol (REP.MC) regressed a 1,19 percent.
On the political front, the market had already discounted the unblocking of the political situation in Spain, whose Spanish Congress of Deputies gave the sabbath the confidence of the president of the Government, Mariano Rajoy, to lead a new Executive.
In the fixed income, the profitability of the bonus Spanish 10-year was stable in the 1,22 percent, while the risk premium on the debt German stood at 107 basis points.
The Nikkei, 225 titles and main indicator of the Stock exchange of Tokyo, lost today, 15 minutes of the opening, 54,81 points, or 0.31 per cent over the previous day last Friday, to 17.391,60 units.
The second indicator, the Topix, which brings together all the values of the First Section, fell by his hand 2,86 points, or 0.21 percent, to stand at 1.389,55 integers. F
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One of the first measures to be taken by Mariano Rajoy, who was sworn in as president of Spain after the abstention of the socialist party, will be unpopular: a cut of 5,500 million euros in 2017, to respect the objective of reducing the public deficit agreed with Brussels, which was rejected by a large majority of the parliamentary spectrum. But if you can’t govern comfortably, Rajoy will have the possibility to dissolve the Cortes and call new elections, which the socialists want to avoid at all costs. In addition, you have an absolute majority in the Senate to block reforms that do not fall in love.
The new Legislature was received with a protest at the gates of Congress. Thousands of people gathered against a endowment that they understand “illegitimate”, the result of the agreement between the “corrupt” ruling elite.
“it’s Going to follow the same government or resemblance of the past four years, which has been disastrous for Spain” protested Carmen Lopez, computing a retired 65 years, remembering the cuts in social services.
Others, like Darío Gómez, were charging against the treason of the socialists.
“The PSOE is of proletarians, do not have to be with the ruling class”, claimed this business 50 years.
The vice-president of the government, Soraya Sáenz de Santamaría, has described as “unnecessary, inappropriate and intolerable,” the words of the spokesperson for the ERC in the Congress, Gabriel Ruffian, in the endowment session, which has been dumping accusations as the “traitors” against the socialists.
“This Camera deserves respect, all members deserve respect, and all parties deserve respect”, underlined the vice-president in statements to journalists at the exit of the debate.
Rajoy has warned the socialists that will govern its programme and has claimed maturity to allow the Executive to govern.
The president will announce the members of his new Cabinet on Thursday and the Government plans to Rajoy be sworn before Philip VI morning, after the BOE published the decree that formalized his re-election.
The california firm representing the version, in this digital era, the american dream; a compendium of the effort and creativity with the vocation for the technological rupture of the Silicon Valley
The Tesla Model X with doors with gull wings.
Tesla. It may be that today (especially in Argentina) is a name unfamiliar, or even unknown. But remember that within no long time will find it in the same league as others such as BMW, Mercedes-Benz and even Ferrari. What is more, it’s going to sound with the same relevance than Apple or Google. Does it sound risky? It can be, but everything seems to indicate that we are in a modern version of the legendary american dream. That says that with hard work, ingenuity, creativity, charisma, and a lot (but a lot) audacity, you can not only have an enormous success, but rather try to change the world.
How to break in and not die in the attempt
difficult Thing if there is, is to make a brand new car from scratch, especially in more traditional markets (descontemos to China that is a completely new universe). At least a brand with ambitions of mass appeal. In fact the last that did so were the koreans from Hyundai/Kia, and they took just some 50 years become a respected brand name, valued, and desired. Well, Tesla has achieved in little more than a decade. A small example: a few months ago announced that it will release a midsize sedan to mid-2017, and has already accumulated bookings. To 350,000 units. It is something like half of the cars that are sold in Argentina each year, only for a model that didn’t even hit the market! How did this happen? How Tesla became the car that everyone wants to have? Here are some tips.
Innovation and guts
Interior with the stamp of innovative models Tesla.
Innovation. Here is the heart of what Tesla is, because it was born as a manufacturer of electric cars. OK, now we all know that the future by going there, but 13 years ago he had to have a lot of guts to jump into the car market -conservative par excellence – with a technology so disruptive, and little tested until then. Clear that Tesla started with a small convertible niche -Roadster 2003 – and at that time all the world foretold him, in the best of cases, a future reasonable as a producer of car craft. So, staying under the radar of the giants of the industry, Tesla was accumulating experience and knowledge, especially in the field of the batteries, which are the key issue, because of them depends on the autonomy of an electric vehicle. For when he got his first car in earnest -the Model S, a sedan of a size equivalent to an Audi A7 – the brand born in California, he could already boast a range of 300 kilometers. and there the thing became serious. As much as their ability to leave paying to any sports car race at a traffic light, thanks to its 320 HP (772 in the most powerful version current) and its ability to accelerate from 0 to 100 km/h in less than 4 seconds.
But not in accordance with this, the company continued upping the ante, and is now playing a big stop, because it wants to impose itself as an absolute leader in the field of driving autonomously. In fact, he declares that all of its new Model S starting in 2017 will have total capacity to move without driver intervention. A breakthrough as radical and premature, that many see as an unnecessary risk.
Born digital
That impulse to the technological rupture, even with the risk that involves, to a large extent explained because Tesla was born in the epicenter of global innovation: Silicon Valley. That area of California, near San Francisco, is the father of the giants in technology who are changing our world: Google, Microsoft, Apple, Uber, E-Bay, PayPal. In fact, the success of this latter company -a pioneer in secure payment over the Internet – is key in this story, since its sale went out the dollars needed to Elon Musk (we’ll be back on him) went on to found Tesla. In other words, Tesla broke in an industry that moves at the pace of a mammoth, with a mentality and agility of a gazelle. (Note: keep in mind that fawns are very fragile, so the mortality rate of companies dotcom is very high).
Design: do not innovate
The next step, the Model 3 which will sell for US$ 30,000.
let’s go Back to the car. Currently there is a deep debate in the world of design automotive, about what is the form that should take the electric cars. Goes from how to harness the enormous potential morphological that are generated when you do not need a huge volume to accommodate the engine, to what style is the best expression of this new propulsion clean. And not to mention the cars that are driving, that opens up new possibilities almost endless. Just look at the strange car of Google or test the expectations generated by Apple when it announced that it was also developing a self-autonomous to check.
The paradox is that-even being a forerunner in both technologies-in terms of design, Tesla made a magnificent, powerful drive the conflict and decided not to innovate: when the time came to shape the Model S, just did a car with the form conventional. if we can call it a conventional to a silhouette very similar to that of the Aston Martin Rapide, with which it shares in good measure its proportions. Here the intuition was perfect: innovated the best in all that is below, but in the design of the bodywork -one of the most sensitive aspects for the acceptance on the part of consumers – it simply made the car more stylish and elegant as possible, according to canons very classic.
yes, gadgets and the surprises hi-tech abound, and there is no better example that the doors gullwing in the new SUV of the brand, the Model X. Like to impress with style.
Charisma and personalism
Charismatic and magalómano, Elon Musk is the leader behind the american dream of Tesla.
All of these great stories of companies that generate a before and an after, are inseparably associated with the history of some great man. It is the place in which it embodies -literally – the american dream. Henry Ford (Ford), Bill Gates (Microsoft). and perhaps the most paradigmatic of these times: Steve Jobs, the genius of Apple. All of them, figures potentísimas, bright, charismatic, always in a point of unstable equilibrium between the hero and the antihero: philanthropists are able to change the world (for good) to a step of becoming super villains from a Bond movie (this must be why Citizen Kane remains a film so current). Tesla, of course, has its own prohombre: Elon Musk, a type that concentrates all the attributes of the gender, and -no joke-comes with a plan to change the world, both for its solar batteries to home (which would mean that each house is autoabastezca of energy), as well as with its plans for exploration interplanetary manned. It is clear that this boy is 46 years old (born in south Africa but an american by adoption) does not beat with serious attitude.
But beyond the mythology of the extraordinary man, his particular effect is that it makes possible a system of decision making different, based on the leadership of one. More intuitive, more adapted to the digital world, generates a lot more speed of response and adjustments of course, even with the risk of falling into whims. The opposite of large corporations, privately, which are characterized by their huge bureaucratic structures and their intrinsic aversion to risk.
The iPhone of cars
The Tesla S, the car preferred of celebrities in California.
Innovation, design, even the attractive figure of a hero. Where converge all of these factors? In something called a brand value, an indicator that measures something like the gotta that produces a product or a particular brand, beyond how many units you sell or even how much money you earn. Is what determines consumers to make queue at the output of a new model, and that investors do in the queue to purchase shares of the company. The concerning all of this concept is Apple, positioned at the altar of brand value thanks to the iPhone, its flagship product. All the automotive -even though some seeking to renege on it – dream to be in that place. And that is the place now occupied by Tesla. In the united States (and gradually also in Europe), the californian brand has become a perfect mix between eco-awareness, flaunt the technological sense and style, luxurious but casual. That’s why Tesla is the brand chosen by all the progres liberal -and wealthy – of the larger coastal cities (celebrities included), who have become the Model S US$ 80,000 luxury car most sold in the united States.
from the new Model 3, demonstrating responsible lifestyle, technology and cool is going to be accessible also to all those who can pay for $ 30,000 worth. Later that early will arrive to Argentina, but believe me that, until then, these cars are going to continue giving that talk. .
The consequences of Brexit continue to be felt and that the separation is still not formalized. However, before the devaluation of the pound, which has depreciated 17 per cent, Apple has increased its prices more than 20 per cent in the Uk, which in some products has resulted in up to 500 pounds more (about 555 euros) since last Friday.
In the wake of this decision, the company from Cupertino now charges 2.999 pounds for a MacBook Pro, (+22 percent) when the last Thursday paid 2.499 pounds, while the MacBook 12-inch rose 200 pounds to achieve the price of 1.249 lb (+17 percent), the Mac Mini will be increased from 399 to 479 pounds and the iPhone 7 costs from the Friday are 12 percent more.
The increases in prices have been applied to almost the entire catalog of products offered by the brand in the Uk, and as stated in a press release "Apple fixed international prices for their products on the basis of various factors, among them are the exchange rate, local laws, import, trade practices, taxes, and operating cost. These factors vary from one region to another and also change with time, so that international prices are not always comparable to the retail prices which are recommended for the united States".
For their part, some consumer organisations point out that the increase of this company on its technological products has been greater than the fall, which until now has suffered from the british currency (17 per cent versus 22 per cent of maximum increase, a situation that for the experts shows that they are covering the backs with the expected devaluation continued to the United Kingdom.
Usa– In their quest to further expand its market apart from electric cars, Tesla Motors stated that it will sell solar rooftop to the measure and aparentarán be a ceiling conventional. The texas power generation would be a product manufactured in conjunction with SolarCity, although the two companies still will be required to complete the proposed merger.
The glass tiles, which come in four styles (for example, glass tiles tuscan), containing photovoltaic cells, which Tesla says can’t be seen from the street. The panels would generate electricity to a home to be built with the Powerwall Tesla energy storage units for housing to be mounted on the walls, or at bases in soils. The new version of Powerwall costs five thousand 500 dollars, but the price of the tiles was not revealed during its announcement on Friday night.
The president and chief executive officer of Tesla, Elon Musk, said that many of the people who want to drive an electric car, has an inherent interest in counting systems, with energies more clean in their homes and offices. Musk has been estimated that one out of every four owners of cars Tesla currently has with solar energy panels.
“The purpose of Tesla is to accelerate the arrival of sustainable energy,” said Musk at the event. He added that the future we want consists of solar roofs, energy storage and electric cars.
“it Is a solution to the tripartite obvious,” he revealed.
In June, Tesla suggested to buy SolarCity, the largest installation company of solar panels for the home in the united States, in an agreement valued at approximately two thousand 450 million dollars. It is expected that the shareholders submit the proposal to the vote on the 17th of November.
The fusion is controversial. Musk is also chairman of SolarCity, which is run by his cousins. None of the two companies has managed to maintain profitability, and both operate in markets in which demand is uncertain.
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as many had expected, the consequences of Brexit began already to bear fruit. And where has been the most reflected is in the price of Apple products in the United Kingdom.
The policy benefits of Apple has resulted in the rise of prices of approximately 20 percent on a large portion of their products from this Friday. This increase is due to seeking to mitigate the devaluation that is hurting the british pound after the United Kingdom’s decision to withdraw from the European Union.
An Apple Store in Watford. Photo of Cylex.
"we will See more price increases and we’re going to see a contraction in the significant, real income, and then we will see how it resolves," said the strategist at Societe Generale SA with headquarters in London, Kit Juckes, in an interview for the middle ABC.is.
it should Be noted that the increase that Apple did not announced, but, without notice, as prices rose. Now, the items of Apple, as the Mac Pro, cost about 500 euros more in the Uk (10 thousand 427 mexican pesos, approximately). However, despite the announcement, these products still costing the same in the united States.
however, this did not affect only to laptops, but nearly the entire catalog of the company. "Apple suggests that the international prices of the products are based on several factors, including currency exchange rates, the laws of local import, trade practices, taxes and the cost of doing business," said Apple in a statement.
"These factors vary from one region to another and with time, such that international prices are not always comparable to the suggested prices in the united States."
Various organizations on behalf of the consumer, point out that the pound sterling has fallen 15 percent from its average in the first half of the year, before it was announced the Brexit, so that it would not be justified the rise of the 20 percent (5 percent more) that has implemented Apple.
Even at the current exchange rate of the pound to the dollar, the prices in the Uk of the Apple products are up to 22 percent more expensive than the same product in the united States, which could mean that the electronic mark is being hedged against potential devaluations of the currency uk in the future.
"We’ve had Marmitegate (rise of prices in different grocery chains)," said Mark Garnier, minister of Commerce of the United Kingdom.
"consumers will start to see the price rise and there is nothing we can do about it. This is a consequence announced to the Brexit. This point was known all over the world: Brexit could easily give rise to a fall in the value of the pound sterling. That has happened".
Washington - The U.s. economy gained momentum in the last quarter and had its biggest growth in two years during the campaign for the presidential elections of next November 8.
only 10 days of an election in which the economy is the big issue, the Commerce department reported that between July and September, the GDP grew by 2.9% thanks to exports and consumption. The growth was higher at 2.5% that analysts had expected.
Immediately responsible for the campaign of the democratic candidate to the White House, Hillary Clinton, said that this result shows that EE. UU. is recovering from the financial crisis of 2008-2009.
Added that Clinton plans to create more jobs by using the building infrastructure.
“more than 15 million employees were created since the beginning of 2010, and with real income through growing to over 5% in the past year, it is notorious that we have made real progress since the crisis,” said Jacob Leibenluft economic advisor of the candidate.
READ ALSO Hollywood spends a lot on supporting Clinton and gives back to Trump
By the time there were no comments from the computer of the republican candidate, Donald Trump, who has come EE. UU. saying that the economy is “broken” and promised measures to boost growth.
The report may increase pressure for the Federal Reserve (Fed) rise this year interest rates, a decision that comes to be delayed from December of 2015.
The majority of analysts believe that the Fed will not raise in your meeting next week, but in December.
Lawrence Yun, chief economist of the association of realtors of USA. UU., he asked cautiously as economic growth since the financial crisis has been on average of 2% per annum.
“The Federal Reserve could fall in the temptation of rushing to raise rates due to the poor GDP data,” he said.
Yun cautioned that the Fed should keep the “ performance below normal” of the economy in the last six years.
In its initial estimate of GDP, the Commerce department said that exports climbed 10% in the quarter July-September. This increase is the largest in 3 years, and led the overall growth of the world’s largest economy.
The personal consumption also helped. The expenditure increased by 2.1% in the quarter, although that percentage was half that of the previous quarter.
READ ALSO How to affect Costa Rica the proposals of Clinton and Trump?
Without examining it up close it is almost impossible to think that the roof of this house is not made of tiles normal, but it is not so. Those pretty red tiles are actually solar panels. This is the last creation of Tesla Motors, in partnership with the company SolarCity.
Tesla has explained that the shingles will be available in different designs and they will all have a hand-finished so that each roof is to remain single. The roof is the perfect accessory to charge the new battery Powerwall 2 that Tesla has just announced at an event in Los Angeles.
The Powerwall 2 is so called, but in reality may be installed both on walls and on the ground. A single of these batteries can store up to 14kWh and provide continuous 5kWh with peaks of up to 7.
The last accessory is a new home charger for its cars that will recharge the batteries of a Tesla 40% faster. Now we just need the regulations in the area of self-consumption to adapt to these new technologies and that governments like the Spanish do not legislating to get us back to the middle ages. [via Tesla]
The MacBook Pro has gone to cost 2,999 pounds since 2,499 pounds
on Friday, consumers in the Uk have seen firsthand how it can affect directly the ‘Yes’ to the brexit. Both Apple and Electrolux have reacted to the fall of the pound driving up prices in the british isles.
In a discreet way and suddenly, Apple raised the cost of some of its devices, including the MacBook Pro at 20%, while the Swedish company Electrolux has been recognized that it is increasing the prices of some of its appliances by 10%.
In view of the inflation recorded the faster growth in two years, it is likely that the pressure on prices to rise as the pound falls to levels not seen in decades, raising the cost of imports to a few weeks of Christmas. Microsoft has also started to charge more to the british for some of their software tools.
“we will See more price increases, probably even more so in the higher end of the market, and also a major contraction in the real disposable income of the british and then we will see how they left things,” says Kit Juckes, strategist at Société Générale.
Apple began to charge 2,999 pounds by your device the Mac Book Pro, compared to the 2,499 pounds that it cost at the beginning of the week. The Mac Mini is now sold 479 pounds vs. the 399 pounds. However, the prices of these products in the united States have not undergone changes.
“Apple suggests that the international prices for the products on the basis of various factors, among them are the exchange rate, local laws, import, trade practices, taxes, and operating cost,” said a spokesman for Apple said in a statement.
“These factors vary from one region to another and also change with time, so that international prices are not always comparable to the retail prices suggested for the united States”.
But less than two weeks to choose a new president, what do you think a candidate do to improve the economy?
consumer spending increased between July and September to an annual rate of 2.1%.
Photo: Belhú Sanabria / The Race
Washington.- The US economy left behind the weakness shown in the first half of the year with a growth of the 2.9% in the third quarter, driven mainly by rising exports and investment in inventories, reported today the Government.
The gross domestic product (GDP) of the united States grew at an annual rate of 2.9% between July and September, more than expected by experts, and more than double the 1.4% for the previous quarter, according to the first estimate released by the Commerce Department.
That growth in the third quarter was also the highest in two years.
The u.s. economy started 2016 with a growth weak, of just 0.8% between January and march, which accelerated to 1.4% in the second quarter and now with a lot more force to the 2.9% of the third party.
The analysts forecast that the robust growth recorded from July to September, hold during the last quarter of the year.
consumer spending, the true engine of the US economy, increased between July and September to an annual rate of 2.1%, well below the 4.3% in the second quarter.
a Good part of the rebound in GDP in the third quarter was due to a 10% increase in exports, driven by a temporary boost in shipments of soy american associated to a poor harvest in South america.
In terms of the accumulation of inventories by businesses, generated between July and September, an addition of 0.6 percentage points to the GDP after five consecutive months in which had been a drag on growth, according to the report.
The companies have also increased in the analyzed period the investment in structures such as new plants or offices, but the spending on equipment was again weak.
While, the public spending grew by 0.5%, mainly due to the investment of the federal government.
In a statement, the chief economic adviser of the White House, Jason Furman, noted the rise in exports, "the fastest" since 2013, and the strength of consumer spending, but noted that work remains to be done "to strengthen the economic growth."
On the same line, the democratic candidate to the White House, Hillary Clinton, believes that there is more to do "to build an economy that works for all" and his plan "would create jobs, well-paid jobs through investments in infrastructure, innovation and education", said in a statement one of their advisors, Jacob Leibenluft.
For its part, the campaign of the aspirant republican presidential Donald Trump, emphasized in another statement that the economic plan for the magnate will generate 25 million jobs and a growth of 4% for "through regulatory reforms, tax, trade and energy".
the united States "can do better than the modest growth of 2.9% recorded in the third quarter," said Dan Kowalski, deputy director of policy of the campaign of Trump.
The acceleration of GDP in the third quarter consolidates the forecasts of the Federal Reserve (Fed), the central bank of the USA, announced in December, at its last monetary policy meeting of the year, a new rise in the benchmark interest rates, currently between the 0.25 and the 0.50%.
The next Fed meeting is on 1 and 2 November, only a few days before the presidential elections of 8 November, and the experts nearly rule out that the rise in rates is decided in this meeting, precisely because of the proximity of the election date.
Pushed by the poor GDP data, Wall Street was betting to the upside on the opening, with an advance of 0.19% on the Dow Jones Industrial.
Apple knows that the television evolved. Understand that gone are the years in which I tuned in search of any interesting content. Today that role has been reserved to smart devices, are increasingly used for entertainment purposes.
The analytical Park Associates, for example, referred to that in the united States video game consoles Xbox One and PlayStation 4 are preferred for streaming content. Below is the Apple TV, which is used almost in the same proportion that the Chromecast of Google. Apple has a plan to increase its use.
it Is called TV app, a central such as happened with iTunes in the era of the iPod, concentrate all the supply of audiovisual content relevant to a user. Shall be assisted from the information that Apple already has on them through the iPhone. All the series, movies or videos present in the apps that are installed on an iPhone, iPad or Apple TV will be concentrated in TV app, which will come to users in the united States in December.
"The apps of the iPhone, iPad and Apple TV have become the most common way as many of us see tv," says Eddy Cue, responsible for the supply of Internet services of Apple. "TV App tells you what to look at and makes it easier to find new shows and movies from different apps into a single place."
Apple is also confident that the TV App will help to popularize the use of Siri, which will have compatibility with the new application. Simple instructions, like "what parties are there in this time?" will cause the app to show a selection based on the user’s interests. The same thing will happen with shows or news broadcasts.
for months it has been rumored that Apple has a strong interest in becoming a service provider of video streaming. The presentation this afternoon could be indicative of an upcoming release, as services such as Netflix or Amazon Video –dominant in the united States– were absent.
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the people’s Bank is a component that capitalizes an amount of 4,550 million euros and that has a large ballast with the so-called sub-prime mortgages. I’m going to try to explain why there has been a recovery on your quote is the opposite of what has happened with the majority of the Spanish banks.
The Banco Popular (MC:) comes from a macroampliación capital a few months ago to clean up its balance sheet and improve its ratios that were very badly damaged by its high exposure to the real estate crisis. This macroampliación made that its price has been penalized nearly a third of its value year-on-year, and even so it is not clear yet that the bank is totally cleaned up.
Me, personally, I think the worst thing for this entity has passed and when you release the ballast housing may be again what it was, a bank with a medium with a great capacity to generate benefits. The results of this third quarter, published today, 28 we show that if there computaran the losses in his real estate business, its benefits for the main activity of the bank would be 817 million of euros, and however by the burden that he is doing become the worst company of the Ibex35 only obtained a result of 94 million euros from a loss in this evil business of 723 million euros.
For the ratios is improving quite a bit, and it is rumored in the market that is trying to divide its main business of real estate, (is that bad business this that forced the popular to the bursting of the housing bubble and have to stay with thousands of promotions of the construction broken), with the divestment of the brick for the creation of a company that includes all of the assets and its subsequent IPO and ipo. The actions of this new company could be shared between the shareholders of the bank, shareholders who by the way are quite unhappy with the management of its president, Angel Rón.
Another noteworthy aspect is that, given their low capitalization in the current moment and their possible total sanitation when you release the real estate business can be a bank very appealing to some fusion and absorption.
it is, therefore, complicated the issue of the Popular, hard to give a recommendation for, but I think the price is very low and that in the worst case I don’t expect to break the support of the euro, though it is not a technical support if it is psychological.
Little can be seen in his technical analysis, so it is not interesting to your analysis.
GDP U.S. increased at an annual rate of 2.9% after expanding 1.4% in the second quarter, today said the Commerce Department in its first estimate for July-September.
Washington (Reuters).- The U.s. economy grew at its fastest pace of the last two years in the third quarter thanks to a rise in exports and a rebound in inventories offset the slowdown in consumer spending.
The GDP rose at an annual rate of 2.9% after expanding 1.4% in the second quarter, said on Friday the Commerce Department in its first estimate for the period July-September.
it Was the rate of growth strongest since the third quarter of 2014 and exceeded the expectations of a poll Reuters of economists of a rise of the GDP at an annual rate of 2.5%.
Despite the moderation in consumer spending, progress in the expansion of the third quarter could help to dispel fears that the economy is at risk of stagnating. In the first half of 2016, the growth had averaged just 1.1%.
even Though the Federal Reserve is mainly concentrated in the employment numbers and inflation, signs of economic strength would be support for an increase in interest rates in December. The central bank american raised its reference-type to the end of 2015 for the first time in nearly a decade.
consumer spending, which represents more than two-thirds of the economic activity of the united States, rose at a rate of 2.1% between July and September, giving support to the economy, though its pace slowed from a solid 4.3% in the second quarter.
An increase in soy exports are allowed to decrease the trade deficit. Exports climbed 10%, the highest rate since the end of 2013. The trade contributed 0.83 percentage point to the expansion of the GDP, from as low as 0.18 prior, but it is feared that the growth of exports led by soybeans can be reversed in the fourth quarter.
businesses increased their spending on inventories after reducing their inventories in the second quarter. Accumulated US$ 12,600 million in inventories in the third quarter -contributing 0.61 percentage point to the growth of the GDP, though investment in machinery and equipment remained weak.
The british Justice gave the reason this Friday at two vehicle drivers, Uber who complained to an employment tribunal to the transport platform, accusing it of not respecting the labour legislation.
According to the union, the GMB, who supported the complaint, the judgment of the court of london’s supposed “victory monuments” that could have consequences that are “important” for more than 30,000 drivers in England and Wales.
The complainants claimed to be able to have a holiday, compensation in case of sick leave and a minimum wage guaranteed by the labor law of the british.
“The court found that the drivers Uber were employees under the law and were, therefore, entitled to paid holiday and a minimum wage. That is to say, contrary to what is suggested by Uber, which says that the drivers are independent workers”, he reacted by Nigel Mackay, of the law firm Leigh Day.
“The drivers for Uber tend to work many hours and only earn enough to cover their most basic needs. It is this work which has allowed Uber to become a global company and amassing billions of dollars”, he added.
other countries have carried out similar actions to justice, such as France or the united States, where the company had to pay up to $ 100 million to close two resource groups that threatened to change the status of your drivers.
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Just last October 17, the subsidiary of Uber in France was condemned to pay 1.2 million euros to the National Union of Taxis (UNT) for having made it clear to their drivers that they could exit to the street in search of customers who had not reserved a vehicle, something they have prohibited.
The Paris Court of Appeal confirmed a judgment at first instance of January 27, in which the judges had remembered that to be in a public in waiting to appear to potential customers is a prerogative only of the taxis.
At the end of September the income for the service Uber was denied in Cancun, Mexico. The secretariat of Infrastructure and Transport (Sintra) of Quintana Roo, stated that it did not allow the operation of Uber in the tourist area, as it does not account with the grant that makes the law.
"Currently, there is a law in which it is not allowed to give service, without a concession, then we will continue to act in adherence to the law and safeguarding the rights of our friends taxi drivers today have claimed precisely that situation," said the secretary.
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The U.s. economy grew at an annual rate of 2.9% in the third quarter, its fastest pace of the past two years, announced Friday, the Commerce Department in its first estimate for the period July-September.
The increase in the Gross Domestic Product (GDP) in the u.s. is due to rising exports and a rebound in inventories, which offset the slowdown in consumer spending.
The data represents the rate of growth strongest since the third quarter of 2014 and comes after GDP u.s. expanded by 1.4% in the second quarter.
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exports gave a strong impetus to growth in the third quarter to advance to annualized rate of 10%, the highest since the last three months of 2013.
For its part, in the period of reference, private consumption grew at an annualized rate of 2.1%, driven by a 9.5% increase in the consumption of durable goods; while the gross investment private rebounded to an annualized rate of 3.1%, after falling back during the three previous quarters, while investment in equipment continued to be low for the fourth consecutive time.
The weight already resented the disclosure of this data and erased almost all its gains this Friday, since the data of the u.s. economy, which exceeded expectations, would strengthen the likelihood that the Federal Reserve (Fed) to increase in December, their rates of interest.
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So, the currency of mexico was trading in 18.8125 per dollar, with a rise of 0.15%, or 2.75 cents, compared to 18.84 weights of the reference price of Reuters on Thursday.
labor Costs rise 0.6%
For its part, the Department of Labor also announced that in the third quarter, the Cost Index of Employment rose a 0.6%, a similar progress in the second quarter, and showed an annual rate of 2.3%.
Well, there was a steady advance in the third quarter, but with few signs of a significant uptick in wage inflation.
The Index of Cost of Employment is the measurement of broader labor costs.
The u.s. economy grew 2.9% in the quarter July-September, your best pace in two years thanks to the export sector recovered and the stores returned finally to replenish their inventories.
The gross domestic product (GDP) in the third quarter, the broadest measure of the economy, was more than double the 1.4 per cent registered in the second period, reported Friday by the Commerce Department.
The growth of the GDP is aletargó considerably at the end of last year. Exports were affected by the rise in the dollar, which encarecía their products abroad, and the stores have reduced the replenishment of their inventories to the decline in sales.
Now that the dollar has stabilized, exports picked up again in the summer and the shops are reabastecieron of products. They anticipated a strong growth for this period.
The new amount of growth is even higher than the 2.5% that many analysts had anticipated, and this is one of the last economic reports that will broadcast the government before the November 8 election.
The republican candidate Donald Trump has said that the GDP is decreasing and that shows that the policies of the democrats do not work.
Even with the acceleration in the third quarter, economists say that the growth for the entire year will be just 1.6 per cent due to the weakness of the figure at the beginning of the year. For all the 2015 the growth was 2.6%.
This recovery from the severe financial crisis of 2007-2009 has been the slowest since the Second World War, and, on average, economic growth has been just 2.1% per year in the last seven years.
But the growth in the third quarter is the best from the 5% seen in the same period of 2014. In the last three months of last year, the growth was 0.9%, followed by 0.8% in the first quarter of this year and 1.4% in the second.
The economists anticipate that the growth will remain robust between October and December, but maybe a little less, about 2%.
In the third quarter, a large part of the improvement is due to the increase in exports, which climbed 10%, a rate not seen since the end of 2013. Another 0.8 per cent was contributed by the decrease in the trade deficit.
