Soon relocations from China to the United States

China's competitiveness is being eroded in favor of the United States. Producing in China soon will cost more than 10-15% cheaper than in the U.S. by 2015, reports a study in the Boston Consulting Group (BCG). Taking into account all costs associated with transport and storage, the Chinese advantage will be reduced to less than 10%, even completely canceled, said the U.S. consulting firm. This is mainly because of the progressive narrowing of the gap between industrial wages in both countries.

BCG how he arrives at this conclusion at odds with the traditional discourse of economists? BCG has adjusted the salary cost of the two countries based on the productivity of workers, Americans are more efficient, especially since better-trained than the Chinese. It also took into account the fact that the Chinese currency, the yuan will continue to rise against the dollar in the coming years.BCG analysts believe, after these adjustments, the wages in industrial cities like Shanghai or very dynamic Tianjin will be lower than 30% of those in the United States.

"Because of the lack of skilled labor in China, wages increase by 15% to 20% per year," said Harold Sirkin of Boston Consulting Group in a study published late last week. "We therefore expect that the net cost of labor in industry in China and the U.S. converge around 2015." Before concluding: "We will see many more" Made in USA "these five coming years. "

Americans more productive

While China sees its labor costs rise, the U.S. productivity gain in parallel.More flexible labor code, public grants and favorable agreements negotiated with unions: "Many U.S. states, like Mississippi, South Carolina or Alabama, improve their attractiveness as centers of production to lower cost," says BCG . Some big names in American industry have recently relocated their production to the United States. Caterpillar has recently announced the expansion of a factory production of hydraulic excavators in Texas. About 500 jobs will be created. Previously, NRC had repatriated in 2009 its production of ATMs in Georgia.

Large manufacturers, however, are not going to desert China so far. Goods produced in large scale and require much labor will continue to be produced in China, recognizes BCG.It must be said that the Chinese advantage in terms of cheap labor and unskilled labor remains unparalleled. A study by the U.S. Department of Labor published in April, the average hourly wage cost of a Chinese worker in 2008 represented only 4% of that of a U.S. worker. And only 3% of average wage costs practiced in the eurozone.

The euro soar to $ 1.48

Shortly after the press conference eagerly awaited the U.S. central bank, the euro resumed its advance against the dollar. While the Federal Reserve Chairman Ben Bernanke indicated his willingness to continue to support the resumption of U.S. growth, the greenback fell to its lowest level since the summer of 2008 against the six major international currencies. Yet the Fed chairman has assured that a "strong dollar and stable in the interest of the United States and the world."But nothing helps, the euro climbed to nearly $ 1.48, its highest level since December 2009 and as the dollar rose against the yen at 82.15 yen 81.55 yen against Tuesday night.

"The changes introduced by the limited material provided by the Fed gave the green light to return to the market trends of recent times, that promote risk-taking (purchase of raw materials, investment in emerging markets)" financed by the back of the weak dollar, noted Alan Ruskin, Deutsche Bank.

On the other hand, the Fed chief has not given any indication of possible rate hikes in the short term, while most major central banks, like the European Central Bank, are engaged in cycles monetary tightening.Thus, the "carry trade" – a strategy arbitrage between interest rates of different currency areas – continue to make the procurement law and penalize the dollar.

Meanwhile, shortly after the speech by Ben Bernanke, gold has reached a new record at 1530 dollars an ounce and silver has it surpassed the $ 50 an ounce.

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Luxury brands adorn homes

Send home a reading chair or rug signed Hermes Christian Lacroix, some have dreamed. For them, the Milan Furniture Fair, the two groups have announced an exclusive ten parts intended for use in homes, all manufactured in partnership with renowned Italian groups.

For the drawing, the saddle has partnered with designers Enzo Mari and Antonio Citterio. For manufacturing, he appealed to the industry giant B & B Italia. The fruits of this collaboration will be available next fall, in forty Hermès boutiques. The latter was also associated with the Italian manufacturer of textile Dedari which will provide a range of fabrics for furniture, wallpaper or carpet that will be, they are marketed in the month of May."In terms of furniture, there is nothing equivalent to the Italian expertise," explained Helen Dubrulle, Voices in the columns.

After a first attempt in 1986, Hermes is therefore in force in the furniture sector with a clear objective: to inflate the share of this branch in the turnover of the group. The group is in fact already present in the home via a range of art products of the table but this activity represents only 5% of its revenue (amounting to 2.4 billion euros in 2010).

For his part, Christian Lacroix has teamed with the Italian company specialized in mosaic, SICIS.

Collaborations chain

For the French luxury brands, which have launched this operation in late diversification, time is catching up. Among the precursors is the American Ralph Lauren in the '60s, has conceptualized the principle of loose fashion.Much later, in 2000, Armani exploited the vein with the launch of Armani Casa, which now boasts 67 outlets worldwide and a turnover up 11% yoy in the first quarter of 2011. For his part, Bulgari is one of the groups fund shareholders who bought small business sector specialists as Italian Cappellini. The clothing brand Loro Piana cashmere specialist, has launched four years ago Loro Piana Interior. Fendi and Versace also have a collection of furniture.

"In France, there is a stylistic inspiration for a long time. Garden furniture signed Dior existed at the same time as the furniture Ralph Lauren but they were not made by the creator.France arrived late because the marks were consistently the distinction between fashion and furniture, "explains Etienne Cochet, director of Maison & Objet trade fair in the design and meeting place for fashion brands in this sector. "When I spoke in my studios 15 years ago, everybody looked at me wrong! fashion was very focused and conceptually was not in the sense to do the decoration, "says one who is also president of Paris Capitale de la Création.

Today, the trend was reversed: "Brands know that development requires an overall concept. They need a ubiquitous, transversality. It is now part of their strategy, "added the specialist.

Thus, in addition to Hermes and Christian Lacroix, Jean Paul Gaultier has also gone into the deep end.He had imagined in 1992 sofas, wardrobes and beds for its traditional marinara. They have been reissued by the specialist Roche Bobois in June 2010. Kenzo, owned by LVMH, also has a range of furniture all in flowers and origami.

Conquering the palaces

No question, however, for these groups to lose sight of their regular customers. "They are the ones targeted by these products. It's a style that the customer wants to have him and his home. It's logical and legitimate. But it remains a premium spirit. " This refinement should not prevent the marks from the assault of all the furniture in your home, including the most unlikely: "There is no limit to creativity! whether a mark is eye toilet, why not? This would be a great sign of adaptability, "said Etienne Cochet.

According to him, the trend should continue in the years to come.Luxury brands eyeing a market effect in "developing". "There are more and more luxury hotels to be equipped. Paris alone, five new five star hotels will open, "says Etienne Cochet. For brands, "it is a movement that will support their business mode," says he.

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Renault confirms that it paid its informant

The twists in the case of alleged espionage at Renault are continuing. On Wednesday, the manufacturer, speaking through his lawyer Jean Reinhart, confirmed that he paid 250,000 euros to the anonymous informant originally denunciations internally. "We'd be in a range of about 250,000 euros," he said on Europe 1 radio mic, confirming a report in the Chained Duck. This money was given to him by an intermediary, agent of a private intelligence company, which could give them to the mysterious informant in whole or part.

According to the satirical weekly, the source would have received the money between October and December 2010 in exchange for its internal investigation. Duck shackled adds that this person is now claiming 200,000 euros 900,000 euros and still further to provide evidence of what she says. These last two figures were not confirmed by Renault.

The group's lawyer, however, added that for the first time, the builder was ready to unveil the identity of that source. "Renault did not know the identity of the informant. We asked our two security officials, who are alone to know, to deliver his name and address services investigators, "said John Reinhart.

"If injustice has been committed, there will repair"

Tuesday night, other sources claimed that a former military already become a private investigator had received a total of 100,000 euros that had been responsible for redistribution to investigators expected to work on suspicion of espionage. Heard in early 2010 by investigators from the Central Intelligence inside, Michel L, admitted being involved in this case as "biller".

These same sources alleged that the sum of 100,000 euros, "five installments from October to November 2010," passed through his hands. Part of this sum would have been sent to bank accounts in Madrid, whose holders must be identified by investigators.

Renault had originally not wanted to comment on the report of the satirical newspaper, at least not "until the investigation is not over," explained a spokesman. "We want the whole truth comes out and if injustice has been done, there will be compensation," she said just yesterday répétantles remarks by the Director General Patrick Pelata Le Figaro.

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"Saint-Gobain off again on the offensive"

Saint-Gobain issued yesterday its results for 2010. CEO discusses the year 2011 with confidence, to be particularly marked by the IPO, from the second quarter of a minority stake in Verallia, its center of glass packaging.

LE FIGARO – The crisis has ended for Saint-Gobain?

Pierre-Andre de Chalendar – Saint-Gobain is out of the crisis. Last year, our environment was still recovering, but our turnover grew by 6.2%. While we did not find the activity level before the crisis. But the evolution was positive in 2010, including year-end despite the harsh climate in Europe. Especially, our operating income increased more than expected, 41%, to 3.1 billion euros. These good results, we have two elements. On the one hand, we managed to raise our prices by 0.8% on average.On the other hand, we saved 600 million euros, bringing the efforts of 2.1 billion euros over three years. In addition, Saint-Gobain was again reduced debt – 1.4 billion euros. Following this crisis, the group became agile maneuvering.

The movement will continue there in 2011?

I am convinced that the return to growth, yet very contrasting last year, will continue this year. The activity will remain very strong in Asia and Latin America. And in the major Western countries, there should be a restart, including France, Germany and Poland. In these markets, the green growth is already a reality. In France, under the effect of standards in favor of greater energy efficiency, sales of glass wool insulation or glazing "low emissivity" is very much in progress.In this context, Saint-Gobain renewed the offensive on all fronts. We will invest 500 million euros more in 2011, both in emerging and in our new businesses. We will now take double the capacity of our factory glass wool Chemillé, Maine-et-Loire, opened in 2010.

Will you also make acquisitions?

Yes, we will certainly be more acquisitions this year.Three targets we want: our business in emerging markets, companies specialize in energy efficiency and those in the distribution of building materials in Europe in countries where we already have a strong presence.

How do you cope with the rising cost of raw materials?

Last year, the increase – from iron, asphalt, energy … – accounted for an additional cost us 200 to 250 million euros that we have more than offset by higher prices. That will remain our priority in 2011, knowing that the increases we face are greater than in 2010.

During the revolts in Arab countries do not they call into question your interest in emerging markets?

Absolutely not.Our goal is to achieve within five years 25% of our sales in emerging countries as against 19% today, remains valid. But these moves reinforce my belief in the need for a group like Saint-Gobain to spread risks. This was true for China. This also applies to the Middle East, which represents 0.5% of our turnover. In Egypt, even at the height of the crisis, our glass factory inaugurated in November 2010 continued to run. And we are not present in other countries (Libya, Yemen, Tunisia …).

You've done a line of solar development. What do you think of the provisions concerning the photovoltaic sector in France?

To develop an activity, the industry needs stability.However, in France, the rules that we are given for final change every six months! Then it is necessary to subsidize the technology startup, you must register in a process where, ultimately, subsidies disappear.

Wendel has been sanctioned for failing to comply with the rules when it enters your capital in 2007-2008. This changes does your relationship with your largest shareholder?

No.

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OPEC will not intervene for now

The Organization of Petroleum Exporting Countries (OPEC) is on the alert. Through the voice of the Saudi Oil Minister Ali al-Nuaimi, the organization has since indicated that Riyadh would be willing to increase production in case of shortage. "If there was a decrease in supply due to disruptions in producer countries, OPEC countries like Saudi Arabia will increase production," he said at the end of a ministerial meeting of the International Energy Forum (IEF), linking the major consumer and producer countries on the planet.

OPEC, however, said there was no reason to panic. "There's no shortage right now on the market. There is concern and fear, but no shortage, "insisted Ali al-Nuaimi. "We're in a situation very different from 2008.Supply and demand are equal, the surplus production capacity are important, and the volatility that we see the result of temporary problems, "said the Saudi minister. His comments confirmed those of the oil ministers of Kuwait and the UAE, who had previously said they thought the world market "well supplied".

Threat to recovery

The fear of reducing production grew at a rate of ads coming from Libya. Hydrocarbon production in the country has begun to slow down Tuesday because of the insurgency. Repsol, the net production reached 34,777 barrels per day of oil in Libya in 2009, has already announced it was suspending its activities.

Iran has also announced its suspension of oil operations in the country and the evacuation of its staff within 48 hours.In addition, operations have ceased in Libyan cargo ports: "Our leadership in Italy has informed us this morning that the ports of Tripoli, Benghazi and Missourata were all closed," said John Bader, director of the British representatives of the company Italian shipping Tarros Spa.

Since then, calls for an increase in production is increasing. "OPEC does not seem to be aware that high oil prices may derail the global economic recovery and undermining future demand for its own black gold," lamented the Centre for Global Energy Studies. The United States also called for swift action from OPEC, "Increased production is seen in the past, an answer that corrects higher prices," said U.S. Secretary Deputy Energy, Daniel Poneman.We are concerned about the possibility that prices exert too strong a negative effect on economic growth. "

Oil prices continue to rise

Markets are far from being swayed by promises from Saudi Arabia. At the time of the press conference of Ali al-Nuaimi, a barrel of light sweet crude for March delivery shot up 8% and traded at 92.92 dollars, its highest level since 2008. Meanwhile, in London on the Intercontinental Exchange, a barrel of Brent North Sea due April displayed an increase of $ 1.06 to 106.80 dollars. "Investors should not react to risk. If there is fire in the house, panic leads to disaster, "warned the deputy Saudi oil minister, Abdul Aziz bin Salman.A sermon in the desert.

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Fewer and fewer fans at the end of the ISF

Delete the most deleterious effects of ISF. Rename it to emphasize the difference. And stick there until the presidential election. For weeks, senior members of the majority argue in this sense, as Gilles Carrez, UMP rapporteur of the budget to the Assembly, and Philippe Marini, his counterpart in the Senate. "The French are not ripe for a collapse of the ISF," said the first. "Aménageons first such tax and then delete it when we can," says the second. Specifically, these arrangements seek to address the problem of the upper middle classes have fallen to the ISF because the housing boom, while limiting the tax exile of very wealthy taxpayers. Without saying so explicitly as the Elysee did not decide the budget minister, Francois Baroin, is on the same line.

The novelty is that more and more parliamentarians fall this intermediate solution.Author in the fall of an amendment calling for the elimination of ISF and shield, signed by 127 colleagues but rejected, the UMP deputy Michel Piron said today was "ready to compromise but not at any price. I hope we give thought to an increase in taxation of capital gains, a new tax bracket on income and benefits on donations. " The centrist, long favored the death of the ISF, have also evolved. The scheme should be adopted today by the New Center members amounts to a reduction of the ISF. Jean Arthuis, president of the centrist Senate Finance Committee, is among the last to claim a "removal of the ISF in order not to create a gas plant."

Principal residence

The compromise seems even closer than the technical solutions for each other come together.This is the first point out the ISF middle class trapped by the housing boom. Sunday, Baroin spoke up to 1.3 million euros of assets the entry threshold to the ISF, against 800,000 today. A solution that will delete the first installment of the ISF. "It is just a common sense," said Philippe Marini. Jean-Francois Cope, the national secretary of the UMP, has called it "consistent" Monday on France Inter.

New Centre should take up this idea. While adding a relief on the principal residence, or 300,000 euros, or 30%, depending on the outcome most favorable to the taxpayer.The detailed proposal on Monday in Les Echos by Gilles Carrez UMP is a mixture of these solutions, with a threshold of entry to the ISF to 1 million, and an allowance of 500,000 euros on the main residence and 30 % beyond this amount.

Final draft in April

At the other end of the scale, to very wealthy households, the ideas come together well. The objective is to prevent these French, aggrieved by the announced end of the abacus tax flee abroad. Gilles Carrez, Philippe Marini and the New Center propose to reinforce the ceiling of the ISF, the sum "ISF + income tax" can not exceed 85% of income, the cap would be reduced to 70%. In addition, the reduction obtained so far can not exceed 50% of ISF determined initially, and this "cap cap" jump.And this option was also discussed by Baroin.

Finally, parliamentarians agree on one last point: the creation of an additional tax on income, 45% or 46%, to very wealthy households (around 250,000 euros in annual revenue per unit). Problem: Nicolas Sarkozy is reluctant to increase tax revenue. But MPs do not despair of convincing him.

They expose, in any case their views on Tuesday afternoon ahead of Francois Fillon. "But nothing will be decided. It is too early, "temporizes Matignon. The executive is its timing: the first tracks open early March and final draft in April.

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Mubarak's departure relieve Wall Street

U.S. stock markets have opened lower on Friday. The Dow Jones and Nasdaq retreat in effect respectively 0.23% and 0.26% at the opening. But reversal when Egyptian authorities announced the departure of Mubarak, the U.S. indices have returned to positive territory.

Thursday, after long hesitation which direction to take, Wall Street has once again ended the session close to balance. The Dow Jones lost 0.09% at 12,229 points, the Nasdaq rose 0.05% to 2790 points and the Standard & Poor's 500 + 0.07% to 1321 points.

Tension has risen a notch in markets so what Egyptian President Hosni Mubarak has left Cairo. Yesterday, it said in a speech he transferred power to his vice-president Omar Suleiman. The crowd, massed on Tahrir Square in Cairo, immediately expressed his displeasure.Meanwhile, the Supreme Council of the armed forces said in a statement it would guarantee a "free and transparent presidential election in light of the constitutional amendments decided" and has "cautioned against any threat to the security of the nation and citizens . This situation could still weigh heavily on stock markets and oil markets. Many observers fear is indeed a phenomenon of contagion and disturbance on the Suez Canal. Oil prices have opened lower: about 14.15 GMT on the New York Mercantile Exchange (Nymex), a barrel of light sweet crude for March delivery traded at 86.63 dollars, down 10 cents the previous day.

On the macroeconomic front, the trade deficit the U.S. has widened in December, according to figures released this morning by the Commerce Department.The trade balance shows a deficit higher than expected at 40.58 billion dollars.

Also note, industrial production in India rose in December to its weakest pace in 20 months, gaining only 1.6% year on year, according to figures released Friday suggest the possibility of a settlement the country's economic expansion and possibly other emerging markets.

On the foreign exchange market, the euro continued its decline against the dollar to playing its role as a refuge. Around 15:30 in Paris, the euro fell against the dollar at 1.3518 dollar.

Nokia fell more than 11%

The world number one Nokia mobile phones falling 11.31% to 9.65 dollars after announcing on Friday it was preparing a series of drastic measures. The most notable is a "comprehensive strategic partnership" with Microsoftdans smartphones guaranteed online personal loans.Under the terms of the agreement, the system "Windows Phone" Microsoft is becoming the main platform for Nokia smartphones. The Nokia CEO Stephen Elop also announced that the group would cut jobs worldwide, without giving figures.

The side of values, NYSE Euronext has opened up 0.93% to 38.15 dollars. Discussions between the NYSE and Frankfurt, which could lead to the birth of the first global exchange group, have a bitter taste for American financial circles, where many see it as a sign of the waning influence of the place in New York. In its statement Wednesday, the two operators have spoken only of "fusion". But they said that the shareholders of Deutsche Boerse would be the majority of the new entity, with 59% to 60% of the shares.

U.S. food giant Kraft will decline from 2.76% to 30.25 dollars.The group yesterday announced a profit after closing up 36% in 2010 but down on the last three months of the year results in line with analysts' expectations and accompanied by a marked increase in sales. Over the whole of last year, net income group share grew 36% to $ 4.1 billion. However, for the fourth quarter alone, net income group share came to $ 540 million, down 24% year on year. The turnover of the group, which has offered Cadbury last year rose 27% to $ 49.2 billion throughout the year and 30% over the last three months of 2010 13.8 billion, a growth almost exclusively from the redemption of the British confectioner.

For its part, Yahoo! opens up slightly from 0.18% to 16.65 dollars.The web giant announced it would launch in July a digital kiosk called "Livestand, which will make a new tablet computer readable medium of personalized information. The product should be compatible with all operating systems and tablets, provided Yahoo. To begin, will be adapted to Livestand Apple iPad and appliances under Honeycomb, a system designed by Google that should fit the particular tablet Xoom Motorola.

Also in the technology sector, the social networking website Facebook plans to let employees sell for a billion dollars of shares to investors hoping to enter his capital, in a transaction that values around 60 billion dollars, according the site of specialized information, All Things Digital.

Wall Street plays prudence

The U.S. stock market opened slightly lower on Thursday. The Standard & Poor's 500 and Nasdaq 100 respectively recede into effect from 0.41% to 1,315.52 points and 0.81% at 2766.34 points. For its part, the Dow Jones was down 0.40% at 12,191.20 points. Wednesday's session was mixed on Wall Street.

Egypt: Mubarak talks tough

Egypt returns to center stage. President Hosni Mubarak has indeed warned that the army would intervene in cases of "chaos, to take things in hand." This hardening of tone immediately led to renewed tension on oil markets: a barrel of light sweet crude for March delivery rose to 86.90 dollars while that of Brent North Sea with identical maturity exceeded $ 102.Moreover, the International Atomic Energy Agency (IEA) has further revised upwards its forecast on Thursday in world oil demand for 2010 and 2011 respectively to 87.8 and 89.3 million barrels per day (bpd ), mainly because of Chinese consumption, which set new records.

On the foreign exchange market, the euro lost ground against the dollar on Thursday, traders reaping some profits after a sharp rebound of the euro, but remained anchored over $ 1.36. Around 14:00 in Paris, the euro bought 1.3727 dollars against 1.36 dollars Wednesday.

On the macroeconomic front, the United States, the weekly jobless claims rose less than expected at 383,000 against 419,000 recorded the previous week, and 410,000 enrollments anticipated by the consensus. It thus reached its lowest level since July 5, 2008.Pending the publication of wholesale inventories in December (around 16 hours), investors prefer to be cautious, however. Also note, the U.S. Treasury Department will unveil the budget figures in January to 20 hours.

NYSE Euronext to follow

The side of values, NYSE Euronext title should still be surrounded by this very Thursday at the New York Stock Exchange. NYSE Euronext and Deutsche Boerse announced Wednesday that in "advanced talks" over a possible merger in which shareholders of the German company would be majority, with 59% to 60% of the shares.

The telecom equipment and computer Cisco has again alarmed investors by publishing Wednesday after market close a net profit of 1.52 billion for the second quarter of fiscal 2010-11, falling by 17.9% and slightly above expectations.

Also after market, the distributor of fresh produce Whole Foods Market has announced a profit of 88.7 million dollars (+ 61%). Turnover was up 14% to $ 3 billion and its gross margin rose slightly to 34.6% against 34.3%.

The world number one Hewlett-Packard (HP) introduced a new tablet computer called TouchPad, using the operating system of the late producer of Palm PDAs to compete with Apple iPad.

Also in the technology sector, according to the Wall Street Journal, Twitter is in negotiations with several suitors, including Facebook and Google."Leaders from both Facebook and Google, among other companies, had discussions somewhat inconsistent with those of Twitter in recent months to discuss the prospect of an acquisition of messaging service," said the newspaper, citing " People familiar with the matter. "

Wall Street ends in a disorganized

U.S. stock markets end undecided Thursday. The Dow Jones gleans 0.12% at 11,573 points (new record of over two years), the Standard & Poor's 500 and Nasdaq retreating them respectively by 0.16% to 1257 points and 0.22% at 2666 points. The exchanges were still be very limited today.

Wall Street will be closed Friday, Christmas Eve. Wednesday, after long hesitation which direction to take, Wall Street has ended the session in a very slight increase was hoisted to heights unknown for over two years, before the bankruptcy of Lehman Brothers.

On the foreign exchange market, the euro gained some ground against the dollar on Thursday in a market also lacks volume approaching the holiday season. Around 22:30 in Paris, the euro bought 1.3119 dollars against 1.3095 dollars late Wednesday.

The euro was again on the decline against the dollar, wiping out the gains earlier in the day. As for the Swiss franc, it has continued to gain ground against the euro in passing for the first time on Wednesday to below 1.25 Swiss francs per euro. The Swiss franc fell to 1.2439 per euro, a new record after those of the previous day where the Swiss currency had reached the milestone of 1.26 per euro. As for oil, the price of oil has exceeded the threshold of 90 dollars late Wednesday in New York. The highest since October 2008.

Economic figures shovel

On the macroeconomic front, the jobless claims remained at their lowest level this year in the week ending December 18: 420 000 applications for benefits were filed. It's better than analysts had expected. This figure is the second lowest of the year.Over four weeks, the number of jobless claims is at its lowest since August 2008. These good numbers foretell a possible decline in the unemployment rate in December, after peaking at 9.8% in November.

Consumer confidence has improved in any case in December in the U.S., reaching a highest since June, with favorable prospects for employment and large balances among retailers, according to the monthly survey Thomson Reuters-University of Michigan on Thursday.

And new home sales in the U.S. rose 5.5% in November, official statistics show on Thursday. These sales were $ 290,000 in annualized pace in November (consensus 300,000). In October they were down 10.7% to 275,000 in October. The number of new homes for sale has dropped to 197,000 units, the lowest since March 1968.

The day before investors are aware of the latest estimate of growth in the third quarter. Compared to the previous quarter, U.S. gross domestic product increased during the three months was 2.6% annual rate. That is more than the previous estimate (+2.5%) but analysts were expecting a little better (+2.7%).Also unveiled yesterday, sales of existing homes rebounded by 5.6% last month to 4.68 million units on an annualized basis (according to figures from the NAR), a figure broadly in line with expectations of economists who anticipated 4.7 million transactions cash advance today.

AIG about to sell its Taiwanese life insurance

The side of values, the U.S. insurer AIG (-2.65% to 54.38 dollars) is expected to announce next week the name of the buyer of its subsidiary Taiwanese life insurance, Nan Shan Life, which could sell for 2 and 3 billion dollars, said Thursday the Asian Wall Street Journal. AIG directors should consult the buyer on Thursday to select from among four candidates, as the business daily. He added that the four candidates are Chinatrust Financial, Fubon Financial, Cathay Financial and Ruentex Group.Taiwanese authorities had rejected the proposed sale of Nan Shan Life to China Strategic Holdings and Primus Financial Holdings, both based in Hong Kong.

Always on the side of values, the U.S. hotel group Hilton Worldwide, accused of stealing a concept of luxury hotel connected to Starwood Hotels & Resorts Worldwide, announced it has reached an agreement with its competitor. The agreement between both parties provides for "trade restrictions over a period of two years," said a statement indicating that "other terms of the agreement are confidential." The Wall Street Journal on Thursday, Hilton was barred for two years while launching chain of hotels "trends". The group should also abandon its draft final String Denizen. Hilton Starwood will also pay a "substantial sum", said the New York Times quoted a source familiar with the matter.The newspaper did not specify the amount of such compensation.

Wedding Defeat Global Markets and Chi-X

Also note, Carl Levin, the chairman of the Armed Services Committee U.S. Senate, said he was ready Wednesday to open an investigation on the public release of confidential documents EADS and Boeing (0.68% at 65 , 05 dollars), competitors in the tanker market. The U.S. Air Force had announced Nov. 19 that it had mistakenly provided to each contestant a "limited quantity" of confidential information about its competitor.It was announced at the same time it rejected in early 2011 the choice of winner for the contract of $ 50 billion that should provide for the replacement of its fleet of KC-135 tankers out of age.

Finally, the first alternative exchange Chi-X Europe to be announced exclusive negotiations with the U.S. Defeat Global Markets for a possible merger to create a leading global equity. They have not advanced any amount for the transaction, but recently, the Financial Times estimated the value of Chi-X Europe to 300 million. Discussions have been opened for months with four potential buyers, including scholarships transatlantic NYSE Euronext and Nasdaq OMX, which were finally not selected.

Founded in 2007, Chi-X Europe, which is present in fifteen major European markets rose to a level comparable to that transaction by Deutsche Börse.For his part, BATS Global Markets (BATS), based in Missouri (center of the U.S.) has become since its founding in 2005 a leading U.S. stock market.