French oil giant Total Monday inaugurated its new gas project in the North Sea near the Scottish Shetland Islands, whose production is providing up to 8% of British gas consumption. This project, called Laggan Tormore-includes four subsea wells 600 meters deep and connected to a new gas processing plant built on the Shetland Islands. Launched on February 7, production reached its ceiling from 90,000 barrels per day of oil equivalent.
Orascom, a company owned by Egyptian businessman Samih Sawiris, expects a loss in the first quarter of 2016 between 26 and 28 million francs. The figure represents approximately the entire loss of 2015, announced Monday the holding company that builds and operates real estate, especially in Andermatt (UR). The final figures will be announced on Thursday. In addition to the loss, we expect a decline in turnover from 17% to 20%.
No sign of recovery for the prices to Japanese production, confirming the deflationary trend triggered mainly by the collapse of energy products and petroleum. In April, the data showed a drop of 0.3% on a monthly basis after -0.1% in March. This was communicated by the Bank of Japan. Year over year, prices showed a fall of 4.2%, after falling 3.8% the previous month. Analysts had expected an increase of 0.2% on the month and a 3.7% on-year. The export prices rose by 0.7% on a monthly basis, while over-year showed a decrease of 4.2%. The import prices rose by 0.8% on the month, showing a decrease of 13.7% trend.
Replying to a question in a letter to Democratic Congressman Brad Sherman, Janet Yellen, president of the US central bank said the hypothesis of negative rates can not be ruled out entirely, but that should be carefully studied. "Although not completely rule out the use of negative interest rates in some future scenario extremely adverse, you should consider a wide range of issues before you use this tool in the United States, including potential unintended consequences," as reported in the letter. Yellen, optimistic about recovery, explained that if economic conditions deteriorate, "the Fed will adjust its policy appropriately to support progress towards its goal of long-term maximum employment and stable prices."
The exit of Britain from the EU would trigger a '' prolonged period of high uncertainty '', with negative consequences for economic growth of the country, this is the summary of the IMF report presented in London by the Director Christine Lagarde. Among the consequences '' negative and substantial '' which listed Lagarde there are the depreciation of the pound, the decline in investment, market volatility, with direct repercussions on employment. '' In any country have gone in the past six months, all the leaders have asked me about the economic consequences of a Brexit '', Lagarde said, stressing that the Fund does not intend to enter the political debate on the referendum.
The tax factor is becoming an increasingly important component of the competitiveness of a country, important for attracting investment and promoting economic growth. On this issue the Impresalavoro Centro Studi di Udine has published a study in which, calculated an index of freedom fiscal 2016, which takes account of seven different indicators to assess the "burden", not only financial, taxation in the 28 countries of EU and Switzerland. For the realization, the Study Centre has sought the collaboration of researchers from ten European countries (including the Liberales Institut of Zurich).
Apple invests $ 1 billion in Didi Chuxing, Uber's rival in China. Apple will help Didi to develop its platform for sharing data, a useful tool for the Chinese company that makes more than 11 million trips per day and serves 300 million customers. The Apple investment for Didi is very important. The Chinese company is engaged in a round of fundraising by $ 2 billion, with whom is valued $ 25 billion. The Chinese market is growing and Didi and UberChina they battle to win customers and investors. Although for many start up recently to collect funds has become very difficult with the economic slowdown, Didi is the exception. Its valuation has rocketed from February 2015, when it was worth $ 6 billion.
The Gross Domestic Product of Germany appears to be growing, thanks to growth in all components of domestic demand: private consumption and public investment. The estimate by the Federal German Statistical Office (Destatis), today released the preliminary. According to Destatis, the German GDP will register a growth of 0.7% qoq, compared to + 0.3% in the prior quarter, the best performance since the first quarter of 2014, while on an annual basis is expected to expand by 1,6% after + 2.1% reported previously. Exports, however, was an inhibiting factor because imports grew less.
The European car market continues to grow. Cars registered in April in EU and EFTA countries (Iceland, Norway, Switzerland) were 1,318,820 cars (9% increase on April 2015). According to ACEA, the European Association of Manufacturers, in the first four months in 2016 are 5,251,757 deliveries (+ 8.3% on the same period of 2015). In Italy, registrations in April recorded + 11.5% better than France (+ 7.1%), Germany (+ 8.4%) and the UK (+ 2%), while in Spain there was an increase of 21.2%. Fca also continues to run: 89 590 registrations in the EU and EFTA in April (+ 13.6% on 2015, compared to + 9% of the market) .The share rises from 6.5 to 6.8% becoming the fourth manufacturer group for sales volumes in the month.
Prices for imported goods rose for the second straight month in April, a sign firming oil prices could be pushing up inflation pressures in the U.S. As measured by the US Bureau of Labour Statistics, import prices rose in April by 0.3%, after + 0.3% in March and revised -0.5% in February. The figure is worse than expected by analysts which estimated a more marked rise of 0.5%. On an annual basis, there was a 5.2% fall in prices. Net oil imports the import prices recorded a 0.1% rise, representing an annual decline of 2%. The recovery of agricultural and non-agricultural prices has had a positive impact on the price index for exports which rose 0.5%, after remaining unchanged in the previous month, after falling 2.3% in February.
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