China's growth at its lowest for three years

 

China's growth slowed in the first quarter to 8.1%, year on year, confirming the end of the runaway Chinese engine. The Middle Kingdom and shows its lowest growth rate in three years. The country is hit by falling exports due to the debt crisis in Europe.

The gross domestic product (GDP) grew by 8.9% in the last quarter of 2011. Figures released by the National Bureau of Statistics (NBS) on Friday, expected to bolster the central government in its choices. In March, Chinese Premier set the objective of growth of 7.5% in 2012, advocating a rebalancing of GDP, still driven by exports and investment in favor of domestic demand. Consumption is doing well: the pace of retail sales accelerated to 15.2% for the month of March. Industrial production grew, meanwhile, 11.9%.  

The World Bank expects a soft landing for the Chinese economy, she sees grow 8.2% this year and 8.6% in 2013. But Beijing remains cautious about the risk of an abrupt slowdown of the economy too. The Government therefore continues to ease monetary policy. Last month, the volume of bank lending surged to $ 160.1 billion, their highest level in over a year.

Inflation, although more moderate than last year, remains under surveillance. The index of consumer prices rose 3.6% last month. Political leaders, fearing that soaring prices will feed social discontent, should continue to ensure that it is controlled.

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French universities abroad misclassified

 

France is hardly served in international rankings in education. Only four of its representatives are emerging among the 100 institutions classified Thursday morning by the Times Higher Education (THE), a British weekly known for the seriousness of its rankings. France ranks as the seventh largest in the world.

The Paris-Sorbonne University is located between 71st and 80th place of the second international league based on "reputation". It occupied the 91st place last year. Then comes the Polytechnic, which ranks between 91st and 100th place. This year, two new institutions enter the prestigious list: the University Paris-Sud (Orsay) and the University Pierre and Marie Curie (Paris VI), both beyond the 91st place.

"France is well represented in these tables, with four institutions in the top 100, more than Canada, and more than double the number of representatives of China. But the country's authorities should be concerned that such a system of higher education with a long tradition of excellence has its highest ranked institution beyond the 71st, well behind the leading institutions in England and Germany "by Phil Baty, the head of the ranking. And the specialist to wonder: "Maybe the current reforms in the French higher education will they do the difference in the longer term, but for now there is much uncertainty and confusion about the French system, which can affect the country's reputation among scholars throughout the world. "

A "business" full

The study measures the reputation of excellence in both teaching and in research by 117,554 educators from 137 countries. Given a choice between 6000 and institutions were asked what were the best institutions in their field of specialty. The issue of reputation is important in the era of the internationalization of education, as universities compete with each other to attract the best students. And they are buying more and more a "brand" when they enroll in an institution. It has become a "business" in its own right, according to THE.

The first six of the classification, called "super brands" in the study because they crush all others because of their notoriety, are again American universities Harvard, Massachusetts Institute of Technology (MIT), the English university of Cambridge, two new American, Stanford and Berkeley, and Oxford. These universities' dominate the head and shoulders above the other institutions, "the study said.

The U.S. dominates with 44 institutions which are among the first hundred, ten are British, and five are Japanese. Five others were Dutch. Followed by Germany, Australia and France, each with four institutions.

Burger King will make his return to France

 

Good news for fans of Whoppers. Fifteen years after leaving France, Burger King returns. According Procos, the federation of specialized retail chains, the giant fast food restaurants will soon open in the new commercial center of the Gare Saint-Lazare. Moreover, according to our information, the sign should also open this year on highway: its first store could be located in Reims, on A4 or on the ASF network which also operates the A 9 between Avignon and Perpignan A 7 or the south of Lyon. Representatives of the sign would also contacted APRR, which operates, among others, the A 6 between Paris and Lyon. But no contract has been signed so far with this network, making it impossible to open before 2013. In the latter two cases, the brand of gas stations Avia would manage these concessions.

Questioned, Burger King recognizes continuing study opportunities to develop in different countries, including France. But his spokesman refused to give more information. Side of Autogrill, which manages 75% of the restoration of St. Lazarus, the CEO in France ensures that Burger King does not open on March 21 for the opening of the mall from the station, nor later than 2012 . The time is propitious yet. "The expenses of the French in fast food rose 4% last year, said Christine Tartanson, Foodservice Director at NPD Group. This is one of the segments of the fastest growing food. Burger King should take into account consumption habits of the French, by proposing a sweetened offer in addition to burgers. "

Reunion: the measures announced

 

The price of gas and electricity for low incomes will fall in Reunion, and those of 40 essential commodities will be frozen at least from March 1 through the efforts of local communities, said Friday the prefect, Michel Lalande. A series of measures taken after a round table of five thirty gathering around him the chairmen of local councils, chambers, representatives of consumer associations, oil companies and professional drivers payday loans guaranteed no fax. All participants in the roundtable have finally launched a "solemn appeal" to calm the population.

Ways to streamline housing assistance

 

The report by the Center for Strategic Analysis in a housing report released Wednesday is brutal: while the subject of aid mobilizes huge (37 billion euros) from the State and local governments, households the less fortunate spend more on housing. In 2005, they spent at this position 41.4% of their income against 25% in 1988.

To improve the situation of more modest in this area, the Center for Strategic Analysis made several proposals, focused on social housing. "First, it should be that only those who earn more than five times the annual rent for a dwelling may be candidates for living," Chriqui advance Vincent, general manager of that agency of the Prime Minister. A measure of common sense would settle with the current situation today, up 64% of households are eligible for public housing.

To reserve social housing for disadvantaged populations, some only dream of being able to expel those whose income has become, over time, well above the maximum income. This would call into question the sacrosanct principle of the right to remain in public housing, one of the cornerstones of the world HLM. Cautiously, the Center for Strategic Analysis does not follow that direction.

However, he has worked on a system where the rent paid by tenants would be modulated according to their income. "In fact, rents are nominally higher and tenants would receive a grant that would cover some of this burden, says Vincent Chriqui. The premium will be lowered when the tenant would see its revenues increase. "To avoid creating too strong reactions in a world quite restive HLM changes of this kind, this system would first be tested by some social landlords . If the Center for Strategic Analysis recommends this solution is that the devices require tenants whose incomes exceed the ceilings to pay additional rent malfunctioning. Normally, a public housing tenant whose remuneration exceeds 20% of the maximum income to pay a surloyer. "But it is a cumbersome process that requires to initiate proceedings," said Vincent Chriqui. Soft law passed in 2009 plans to evict a tenant of public housing for two successive years if its resources are at least two times higher than the ceiling. But we must wait three years after this observation that the measure could be effective. Result: more than three years after its adoption, the text has yet to produce any effects.

Statistical tool

Last priority recommendation of the Center for Strategic Analysis: Building a statistical tool that emphasizes respect for each program HLM, level of public support and the "discount" rent in the social housing compared to private apartments around the park. "By learning about government subsidies and the results they deliver, this should help to refocus the production of social housing where the need is greatest," says Vincent Chriqui.

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Euro crisis summit in Brussels

EU summit, the first act. The leaders of the EU started in Brussels on Sunday morning a summit with the goal of trying to overcome their differences on how to stem the debt crisis that is destabilizing the euro area. The meeting began around 10:20. However, no decision is expected at the end of the summit of which the second act is expected Wednesday. This afternoon, the summit will continue with a meeting of Heads of State of 17 countries in the euro area.

Europe is facing economically to "serious challenges", said President of the European Union, Herman Van Rompuy, at the opening of the meeting. He believed that the decisions to be taken by European leaders to address was "perhaps the most important" they've ever had to face the financial crisis.Greek Prime Minister George Papandreou, also felt it was "time" to take "decisive and effective." "It is clear that the crisis (debt) is not Greek. This is a European crisis, "he judged.

German Chancellor Angela Merkel, however, dampened expectations about the outcome of the summit, from the outset, reaffirming that decisions could be taken next week. "For me it is important to reiterate that today we prepare the decisions of Wednesday" because the negotiations are about "subjects sometimes technically very complex, she said on her arrival in Brussels.

"You have to reassure the markets"

For its part, the Belgian Prime Minister Yves Leterme has tried hard not announce anything at all on Sunday, in light of market pressure."It is essential for tomorrow morning at the opening of markets, we have made sufficient progress so as not to jeopardize the credibility of the euro area," he said. Same story for the European partners have not adopted the single currency, which are concerned about the fallout from the debt crisis. "The crisis in the euro area is being extended to all our economies, including that of Great Britain ', launched the British Prime Minister David Cameron.

What response to the crisis the Europeans do they negotiate? This response is intended in three stages. It must first stabilize the over-indebted Greece and save him a total failure. This will require further international loans and losses of creditor banks in the country. Europe the figure to at least 50%.According to the report of the troika (representatives of the EU, the ECB and the IMF), the discount should be 60% to maintain unchanged the envelope of € 109 billion promised to Greece, as part a second rescue plan officially recorded on July 21 payday loans for self employed. "We remain willing to explore options on a voluntary basis [for each facility, Ed] and realistic prospects for the economy of Greece and the return of that country on the capital markets," said Charles Dallara Saturday night , the president of the Institute of International Finance (IIF), which brings together major global banks.

In return, a bank recapitalization is provided. Countries of the European Union discussed a budget from 107 to 108 billion euros at the meeting of finance ministers on Saturday night. Remains to define the terms.

It will also strengthen the Fund's financial assistance for the euro area countries in difficulty, the EFSF, firewall against the contagion to Italy and Spain. But differences remain on how to do this, especially between France and Germany. Yesterday, the French proposal to grant a banking license in EFSF was discarded. Only two options are being discussed to increase the firepower of the device: the mechanism acts as a partial insurance of the public debt of troubled countries or the IMF is expected to increase its participation in the scheme.

European governance side, Angela Merkel reaffirmed that a "change treaty should not be taboo", to improve fiscal discipline among member countries of the EU. The topic will be on the table at the summit today.Yesterday, the German foreign minister, Guido Westerwelle, proposed to bring in the future before the European Court of Justice countries too lax on the budget in the euro area through a revision of the Treaty of the European Union. In addition, leaders should appoint Herman Van Rompuy, the EU president, as head of the eurozone, according to a draft final declaration obtained by AFP.

For the summit this Sunday, German Chancellor and French President had also met Saturday night to try to resolve their differences, following a meeting of EU finance ministers. They both welcomed the "progress" and "advanced" made in the negotiations.

(With agencies)

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Action Housing continues the state court

Having long raged about the punctures of the State Budget, Action Housing, the former 1% housing, just go on the offensive. Reportedly, the joint body attacked last Friday before the Paris Administrative Court of the State's decision to withdraw 3.7 billion euros between 2009 and 2011. These funds are used to finance the Anah (National Housing) and ANRU (National Renewal). "We made an informal appeal with the government against the decree fixing the puncture but we never received a reply, said Jean-Pierre Guillon, Chairman of the Supervisory Board of Action Housing. We decided to attack the government for abuse of power. "

Smart devices

If Action Housing is the case in court today is with an idea behind the head.Last July, the government has said that he would collect 3.25 billion euros over the period 2012-2014. To sweeten the pill, the Secretary of State for Housing, Benoist Appeared, has committed to implement clever financial engineering to boost the cash flow of Action Housing. "But we have no documents indicating that commitment forward Jean-Pierre Guillon. If the minister changed, the following may not feel bound by that promise. "More generally, Action Housing, which collects 0.45% of payroll companies, believes that this aspiration will prevent it from fulfilling its mission . For example, he does not see how it could fund 45,000 homes for young people as he had promised a few months ago.

With this lawsuit, it seeks to pressure the state to be released in the coming weeks the decree laying down the drain of 3.25 billion between 2012 and 2014.

Meeting in Greece: the Nikkei rebounds

In the wake of Wall Street, Asian stock markets have recovered what color jeudi.L all the places welcomed the determination shown by German Chancellor Angela Merkel, French President Nicolas Sarkozy and Prime Minister of Greece George Papandreou at a meeting telephone Wednesday night, to get out of Athens crise.Après have closed down the day before, and the Nikkei gained 1.48% to 8644 points at a time of closing.

Investors seem so, for now, somewhat confident about the ability of the euro area to help Athens to avoid bankruptcy the country. Wednesday night, the Franco-German and was convinced "that the place of Greece is very much in the euro area."But on one condition, also very explicit: "The implementation of strict and effective recovery program of the Greek economy supported by the countries of the euro area and the IMF and which conditions the disbursement of future tranches of the program. "George Papandreou was quick to deceive, confirming" the absolute determination of his government to take all necessary measures to implement all commitments. "

More good news, the Brics (Brazil, Russia, India, China and South Africa) announced Wednesday that they could increase their holdings of bonds denominated in euros. Thus, Brazil was prepared to participate in a "global effort" against the economic crisis that affects rich countries, said the same day the President of Brazil Dilma Rousseff.Meanwhile, Italy, whose rates have soared during bond, has denied media reports that she would have asked China to invest in debt.

Oil continues to fall

Japanese banking stocks and welcomed the ads. After being jostled by the market and Mizuho Financial Group rose 0.90% to 112 yen and Sumitomo Mitsui Financial Group 1.06% to 2094 yen.

Other Asian stock markets follow the upward trend of the Nikkei. The Hang Seng Index of Hong Kong Stock Exchange rose 0.47% to 19,134.45 points, the Kospi index in Seoul Composite climbed 1.12% to 1768.75 points. The S & P / ASX index in Sydney rose by 0.74% to 4035.40 points, the FTSE Straits Times of Singapore appears an increase of 0.56% to 2754.58 points.In contrast, the Shanghai Composite Index down 0.02% to 1484.45 points, like the BSE Sensex 30 Index of Bombay, which was down 0.39% to 16,643.70 points.

On the foreign exchange market, the euro appears down 0.16% to 1.372 dollar on Thursday. In turn, oil prices continued to decline in Asia, after figures showing a decline in demand for refined products in the United States, and while the markets remain worried about the situation in the euro zone, analysts said . In early electronic trading, a barrel of "light sweet crude" for delivery in October lost 43 cents to 88.48 dollars per barrel of Brent North Sea crude for October delivery 53 cents to 111.87 dollars.

The Asian market in the dark red

Asian operators in turn penalize the poor performance of U.S. jobs. On Monday, the major exchanges in the region are in the red on Monday, after falling more than 2% on Wall Street Friday and that of almost 4% in Paris. As elsewhere, the Asian stock markets suffer from fears of recession in the United States. The U.S. Department of Labor has announced Friday that the U.S. economy has not created any jobs in August, while analysts were hoping 70,000 net new hires. The ministry said the unemployment rate held steady in August at 9.1%.

In Japan, the Nikkei started the session on a drop of 1.37%. An hour of closing, he gave up 1.86% and sinking below the threshold of 9000 points to 8784 points. In Hong Kong and Shanghai stock markets lose respectively 2.17% and 1.63%.The Korean Kospi fall more heavily to 3.21% while the S & P Australia fell by 2.30%. The Indian Sensex lost 1.18% in turn.

Financial and technological attacked

As for values, the indices in the region are pulled down by the financial sector. In Tokyo, Nomura Holdings (-4.64%), Mitsubishi UFJ (-2.34%) and Shinsei Bank (-4.55%) decline severely. In Sydney, Macquarie Group (-3.70%) and Westpac Banking (-3.12%) drop. In Hong Kong, HSBC Holdings lost 2.23% and -1.69% Bank of Communications.

Similarly, the technology sector is affected by fears of a slowdown in global demand. In Japan, TDK lost 3.84%, 4.39% Fujitsu, Ricoh and Sony 4.42% 3.69%. These latter values ​​are also impacted by a still too strong yen against the dollar. In Korea, LG drops 3.7% while Hong Kong, Lenovo lost 2.46%.

Oil down

Oil prices were also misguided Monday morning in electronic trading in Asia, depressed by the poor figures on employment in the United States. In morning trading, a barrel of "light sweet crude" for delivery in October lost 59 cents to 85.86 dollars per barrel of Brent North Sea crude for October delivery 74 cents to 111.59 dollars.

In Australia, the energy sector is penalized. Santos lost 4.92% and 4.32% Oil Search.

Irene would cost tens of billions

The bill may be steep Irene. The governor of New Jersey, Chris Christie, has evaluated this Sunday on the NBC television network damage caused by Hurricane "billions of dollars, even tens of billions of dollars." According to an alternative estimate delivered by the consulting firm Kinetic analysis, the hardware cost of this storm is expected to rise between five and ten billion dollars, most likely around seven billion. Just to the North Carolina and South Carolina, two states already affected by the hurricane, the amount of losses expected to reach between 200 and 400 million.

Above all, this damage should be responsible in large measure to the State, businesses and individuals, when insurers should take on a lesser share of the burden, said Chuck Watson, one of the leaders of Kinetic Analysis told AFP."Most of the structural damage will be caused by the rising water because of rain and coastal flooding. Yet this type of damage is not covered by private insurance, "said he.

The same applies to losses caused by the cessation of activity in areas relevant to the coast, or the cost incurred by the evacuation of hundreds of thousands of people payday loan lenders. Thus, New York, usually hectic, has been transformed this weekend into a ghost town, most shops have closed up shop and residents have been urged to stay home. But there is no damage reported, insurance should not pay a dime to compensate their members.

Insurers expected to be down

Insurance companies, however, should see their value fall Monday at the New York Stock Exchange.On Friday, insurers Allstate and Travelers had fallen to the lowest levels for two years, investors anticipate the costs incurred by the hurricane for those companies.

The amount of the invoice should still be less than initially estimated. Thus, Kinetic analysis was planned on Friday that a tornado could generate over 12 billion euros of damage if it hit New York at the height of its intensity. Finally, she was demoted to a mere tropical storm, with winds still 100 km / hour. These amounts are in any case of a different order of magnitude as the colossal damage of about $ 100 billion registered during Hurricane Katrina in 2005.