| Date: September 8, 2010 | Source: Europa Press |
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Hyundai customers will return the amount paid for the purchase of a vehicle registration taxes and fees included, if not satisfied with it, announced at a press conference the director of Hyundai Motor Spain, Diego Gutierrez Colomer.
To access the refund, the customer must attach the vehicle to the new plan 'Commitment Hyundai's for free. The new plan will come into force from tomorrow and will last until 31 December.
During that period, the customer can return the vehicle at the same dealership where it was purchased, whatever the cause, provided they have been less than 30 days from the date of registration and the car has a mileage of less than 2,000 kilometers.
The 'Commitment Hyundai will accept the return of the vehicle or repair surface damage not attributable to the vehicle's warranty worth up to 700 euros, materials, labor and VAT, which would be valued by the grantee and the amount subtracted Vehicle paid by the customer.
This new plan is added to the existing Plan Trust 'Triple 5' consisting of five years of coverage, unlimited mileage warranty, five years of roadside assistance and five years of preventive control of the car.
SALES AND RESULTS
The company today announced that its worldwide sales rose 23.5% during the first eight months of 2010 compared with the same period last year, reaching 2.34 million units.
In terms of net profit for the first six months of 2010, the company reached 1.632 million euros compared to 672 million the same period last year, driven by strong demand in overseas markets and increased participation of its subsidiaries abroad.
| Date: August 19, 2010 | Source: Reuters |
Go ahead and rate this post Loading ... Intel, the world's largest maker of microchips, announced today that it will pay about 7,680 million for McAfee to be the leader in the field of computer security.
Both U.S. companies have their headquarters in Santa Clara (California), and join forces to "put safety at the same energy efficiency and connectivity," particularly in the field of mobile devices.
"With the rapid growth of mobile devices connected to the Internet, more and more elements of our life moving in the network," said President and CEO of Intel, Paul Otellini, in announcing this operation.
In his opinion, that is the reason that "security is linked to energy efficiency and connectivity as the third pillar of what most requested" the computer industry.
According to today detailed the company before the opening of the New York stock market, each shareholder will receive $ 48 for each share of McAfee, which represents a premium of nearly 60% over the closing price on Wednesday at the New York Stock Exchange.
Therefore, in electronic trading that took place before the start of the regular session, shares of McAfee, a company especially known for its antivirus software, rose 58% and traded at $ 47.31, compared with 29, 93, which closed yesterday.
In contrast, shares of Intel, one of the thirty companies comprising the Dow Jones industrials were down 2.3% in electronic trading and traded at $ 19.14, partly affected by his warning that the operation will have a "slight" negative effect on their accounts during the first year after the acquisition.
The company, which recently announced the best quarter in its history, had already undertaken significant investments in the purchase of companies that specialize in issues related to security, such as Wind River for $ 884 million and 110 million Havok.
At the same time, McAfee, which however had spread somewhat disappointing quarterly results, announced investments in companies specializing in security, in turn, mobile devices such as tenCube and Trust Digital.
| Date: February 19, 2010 | Source: Europa Press |
Go ahead and rate this post Loading ... Vice President of the European Commission responsible for Industry and Enterprise, Antonio Tajani, warned Friday that the "season" of direct aid to the purchase of cars, which has allowed in recent months for producers recover from the fall of sales caused by the economic crisis, "running out" in the EU.
Therefore, Tajani called for designing a "strategy" for the European car manufacturers to achieve funding, either from the European Investment Bank (EIB) or the EU funds for R & D to develop greener vehicles.
Read more here .
| Date: December 15, 2009 | Source: Sources |
Go ahead and rate this post Loading ... The sale of homes, the thermometer that measures the health of each month real estate, still below zero. In October, the INE data show an annual decline of 21.3%, with a total of 33,060 operations, the worst since April.
Neither fairs and flea markets these months, no rebates or offers the succulent supposedly banks are having an effect on sales. Registration is also lower than the previous month (12.1%), compared with 10% increase in September when more than 37,600 closed sales.
The October year decrease is more intense than in September (-17.2%), when the INE statistics again double-digit declines. Although in October exacerbated the decline year of house sales, this fall is one of the lowest in the entire series.
Sales transactions in 2009 (INE):
- January - 33 528 (free) | 4403 (Protected) | 37,931 (TOTAL)
- February - 30 822 (l) | 3847 (w) | 34669 (T)
- March - 31 096 (l) | 3799 (w) | 34895 (T)
- April - 26 251 (l) | 2966 (w) | 29217 (T)
- May - 30 617 (l) | 3395 (w) | 34012 (T)
- June - 31 841 (l) | 3531 (w) | 35372 (T)
- July - 33 694 (l) | 3345 (w) | 37039 (T)
- August - 30 995 (l) | 3024 (w) | 34019 (T)
- September - 33 276 (l) | 4345 (w) | 37621 (T)
- October - 29 975 (l) | 3085 (w) | 33060 (T)
- TOTAL - 312 095 (l) | 35740 (p) | 347 835 (T)
Except for July, August and September 2009 (-20%, -9.9% and -17.2%) and April 2008 (-7.1%), reduced annual October this year can be considered the lowest since January 2008 when the series begins.
The drop in the pace of housing transactions in 2009 have moved around 20% with a maximum of 47.6% in April
Keep in mind that house sales have moved usually falls over 20% with a maximum of -47.6% in April this year.
Falling new home sales
As was the case last month, the decline of these transactions was greater in the case of new homes, whose sales fell 28% year on year to 16,778 operations. This drop is much higher than that experienced in September (-19, 5%). Those used only fell 13% per year to add 16,282, down 14.4% year on year.
On month, the transactions of previously owned homes showed a decrease of 6.9% compared to September, while new homes fell by 16.6%. In the first ten months of the year, has sold 33.3% fewer than second-hand properties and 23% fewer new homes than in the same period in 2008.
The number of free housing borne sale fell 21.8% year on year in October and 29.3% so far this year, with 29,975 transactions, while the public housing fell by 16.3% over October 2008 and 16% in the first ten months, to add 3085 transmissions.
| Date: May 14, 2009 | Source: Europa Press |
Go ahead and rate this post Loading ... Minister of Industry, Tourism and Trade, Miguel Sebastián, announced today that the Plan 2000E, consisting of direct aid for the purchase of cars, will take effect next Monday, to avoid damage to the automobile market.
Sebastian explained that since Monday, motorists will at least help with a 1,500 euros (500 contributed by the Government and 1,000 marks) at the expense of what each community decides independently on its contribution.
The 2000E Plan, which will run one year and will include 200,000 operations, provides direct assistance for the purchase of cars with a price of 30,000 euros in exchange for a vehicle scrapped more than ten years old.
Of the 2,000 euros per transaction under the program, the central government will contribute $ 500, to the autonomous communities are another 500 euros and the automakers will contribute the remaining $ 1,000.
In this line, Sebastian expressed his intention to publish "throughout the day" the list of regions that have decided to join this program of direct incentives to purchase jointly with the automotive sector and the government. Also noted that car manufacturers have joined this action "with enthusiasm" and expressed hope that the regional governments to join "unanimously".
As for communities, the Minister of Industry said that so far the response obtained during the meeting with representatives autonomous "has been positive." "We are in the general meeting and the reception is very positive," he said.
MADRID SAYS "NO" SECOND THE MOTION
For his part, Minister of Economy and Finance of the Community of Madrid, Antonio Beteta, said today that the regional government will not add to direct aid for the purchase of new vehicles, announced by Prime Minister Jose Luis Rodriguez Zapatero, and defend existing regional subsidies, as the 20% discount on the registration tax.
Beteta said in a recess between the minister and regional officials with the regions, that Madrid will not provide the 500 euros with the central government asked the regions to cooperate in this plan.
The Minister defended Madrid regional subsidies already in place, as the 20% discount on the registration tax, and called for the state to implement a tax cut for the automotive industry.
| Date: January 16, 2009 | Source: Economic @ 21 |
Go ahead and rate this post Loading ... The sale of homes plummets 35.6% in November , is the owner of one of the most important news today Europapress, we can not deny that the crisis is wreaking havoc on all sectors, but especially in Spain is to prey upon the construction sector.
The truth is that housing sales has deepened its fall in November 2008 dun accumulating 35.6% over the same month in 2007 as we reported today today the National Statistics Institute (INE), and will continue in coming months, although no official statistics have come out in December, that we perceive it all as the sense of crisis is still there present, and there seems to be going to fade in the short term, do you?
Well, if we analyze the main factors that make buy or not buy property unless we see that the need is there, that is, people still need housing, emancipate, match, marry, have children ... but do not buy the same rate, why? Why housing prices reached a salary abusive and can support? Well, maybe yes last year or the previous one, but now the house is at 2005 prices and in 2005 was booming shopping, so at those prices themselves can survive. The main reasons for not shopping, and reactivate the sector are therefore in my opinion:
1, Banks will not lend to each other due to ignorance on the products purchased and their possible relationships with "subprime" (products of very low credit quality), so that the end is pure interbank distrust. This affects not only the housing-construction industry but to all sectors of the economy.
2 ° Because investors (a large group of buyers) do not risk buying for fear that the housing prices continue to depreciate. Something to do so if they do not buy (the snake biting its tail).
3 ° The banks do not provide or require guarantees endorsed much more demanding. This is the main cause affecting potential home buyers today, not one or two years ago, as I mentioned above.
4. That end-of dwellings (households) do not embark on a project that indebt them for life by the sense of crisis that permeates the atmosphere, to see threatening their jobs and therefore the ability to cope their potential liabilities.
5. For the general price rise in all sectors due to lower consumption and therefore more expensive products / basic perishables to maintain subsistence levels / return minimum (the case of raw materials and durable goods is different logically accumulation of stocks that carry higher costs), causes families to spend less.
6. On the "freezing" of wages in the best families in that see their purchasing power is impaired.
What solution is giving all this? Logically, it is necessary to cover gaps in lack of liquidity in companies so they can continue their business and avoid layoffs or even a market collapse. But it is also necessary to stimulate the market for the wheel back up and running, that is not enough to fix the wheel puncture which has circulated by a steep area, but must be put back to work.
For this course are various measures, such as tax incentives to companies to reduce costs, liquidity injections, various grants, etc, but most importantly, confidence is restored, so that incentives should be focused on this sense, and this must be properly calibrated measures such as "patch" effect in the short term with measures of medium-long term. Not the intention of this article go into detail of different measures or effects, but rather focus on the corresponding interest rates and how consistent the Euribor.
One of the most important changes that have occurred in the short term but not immediate effects is accused of falling interest rates, which in the euro area and has a cumulative total of nearly 3 percentage points in less than six months until the level the current 2%. This measure, as they say in economics textbooks is effective to stimulate the market when inflation remains contained and close to 2% level, encouraging interbank lending and therefore the circulation of money, the family will affect you so that you can buy with lower interest rates, which is a stimulus, but when we come from relatively high rates (compared to recent years) and begins to detect continuing declines in the price of money, it's natural that will stimulate consumption (housing, for the case we are dealing with), but in the short term has a negative effect is that the perception for the end the situation we are in crisis and therefore both the price of housing stock and continue to fall as the Euribor, makes further delay its decision to purchase the home, hoping it reaches a minimum, so will prices continue to fall and these Euribor also to try to encourage consumption, even, in the end to put the economy into a deflationary environment .
With this background, we do provide that until the buyer's perception that we have not touched ground, will not restart consumption and therefore tend to increase their savings in anticipation of what may come.
Note that one of the sharpest drops in home sales transactions occurred in November, as I mentioned at the beginning of the article, but if we see the relationship with the Euribor, we note that there has been a parallel relationship in his fall, that is, we see that the Euribor starts to drop and stop homeownership (even those who could acquire them because the banks facilitated the necessary funds), and we hope that the crisis loans come to be much more cheap.
Consider a 30-year average mortgage of € 180,000 signed in September 2008 could be paying around € 1,000 monthly, while the same mortgage could be signed today in about 700 euros (approximate numbers), are saving about 300 euros a month!.
The family therefore felt that if you keep waiting, you can save much more in the short term with a purchase at lower interest rates no matter how much you pay in a few years, cares of this meet your need at the lowest price possible.
If we return to look for analogies with interest rates, and knowing that in the U.S. or Japan are close to 0, consumers could expect rates in Europe are placed at similar levels to buy, or at least check that stabilize a low (1% or 1.5% maybe). With the pace of fall that brings in only four months, we may think we will soon see that both soil and from there begin to translate into purchases by households in need of housing (the rent is a little funky opcióin in Spain by the differential little monthly fee). We could be talking for about two months to begin to increase purchases and perhaps this summer to see official publications say home purchases where the number of homes purchased over the previous year continues to fall but that is rising from the month above.
Mean the turning point and a possible effect of symptom recovery and economic recovery of the sector.
Logically this would happen without first witnessing new major bankruptcies of banks, automakers, promoters-builders or large business in general, causing even more distrust and therefore into chaos and collapse. This would inevitably lead the country into an outright recession.
Therefore, in conclusion:
1. It is expected that final consumers (households) of households expect the Euribor touch ground, ie the loans are as cheap as possible in the short term to purchase and signing mortgages to 30, 35 0 40 years . This could occur between the first and second quarters of 2009 (that economic recovery would take several months or even years after this revival).
2. Banks need to return to provide similar guarantees loans years ago (except with U.S. subprime loans, the source of the crisis) ..
3. It is not just a matter of waiting for the lower house prices, this is already happening, albeit more slowly and do not know how long or what their soil (or want to sell losing companies or resellers want to sell cheaper than they bought), but that confidence back.
I hope this article has been instructive and not too thick, I hope your comments.
| Date: January 7, 2009 | Source: Europa Press |
Go ahead and rate this post Loading ... Enel has reached a financing agreement with Santander, BBVA and seven other entities to acquire 25% of Acciona in Endesa, and is waiting for the construction company headed by Jose Manuel Entrecanales give its approval to the operation, indicated to Europa Press to sources familiar with the operation.
Meanwhile, sources Enel declined to comment. The acquisition of the participation of Acciona, which would increase to 92% of Enel's presence as a shareholder of Endesa, requires premature termination of the shareholder agreement for the supply and control the exercise of the put option 25% of the construction , which in principle could not be used until March 2010.
The newspaper Cinco Dias published today that Santander financed Enel 1,300 million in the purchase of 25% who have Acciona in Endesa, which the Italian group will pay 8,000 million in cash and other assets.
The amount agreed with Santander is below the 2,500 million the entity headed by Emilio Botin Acciona paid to enter the supply. At the time, Acciona 8,800 million borrowed to enter Endesa.
Despite losses in the stock market, the builder is entitled to exercise in 2010, or now, if agreed with Enel, a put to sell its 25% stake in Endesa at the cost of the Offer, ie EUR 41.3 action, and enter with that about 11,000 million.
To put interest must be added and deducted the 1,138 million correspond to Acciona as part of the 4,500 million extraordinary dividend distributed by Endesa with capital gains on the sale of assets to E.ON In this deal, Enel will be 3,050 million that could serve to reduce debt or fund its escalation in the shareholding of the utility.
On the other hand, investment banks Enel and Acciona, Mediobanca and Citigroup, respectively, negotiate a solution in which the call should be deducted as well, as goes the shareholder agreement, the value of the assets of Endesa's renewable, it will transferred to the builder to give rise to the company Acciona Energy.
TAKING CONTROL OF ENDESA
Taking another 25% of Endesa not only raise the participation of Enel power company to 92%, but would give effective control of the company that now, due to the formulation of the shareholder agreement, can not exercise despite having a 67%.
On the other hand, the Italian and Spanish partner has suspended the approval by the board of Endesa both the special dividend payment and the creation of the society of renewable electricity between assets and construction.
In addition, Enel continues to strengthen its liquidity position and, in late December, received expressions of interest by twelve companies for the acquisition of Rete Gas distribution network by between 1,200 and 1,400 million euros. This operation is expected to be closed in March and, after discounting the asset debt will allow Enel sign between 800 and 900 million.
