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Friday, 12 March 2010 |
The Chinese automotive market, is one of the largest in the world, whereby the country has built and purchased more cars when compared to the rest of the world. Just 2 decades ago, the Chinese were still seen cycling on the road, but the entire scenario changed as more Chinese people are driving their own cars on the roads. According to the recent survey conducted in the Chinese market, it seems that the Chinese passenger car sales went up by an extraordinary 55 percent for the month of February 2010. Commercial vehicles and SUV sales amounted to 942,900 units for that particular month alone, while sales of all vehicles, including trucks and busses will bunk up that figure to 1.21 million.
Generally, the US auto sales also rose by 13 percent for the month of February, and this can be annualized to 10.4 million for the yearly US automotive sales. And when you compare this particular figure with the Chinese automotive sales, the Chinese sales is annualized to 13.6 million, making the Chinese automotive market as one of the largest automotive market in the world.
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Wednesday, 10 March 2010 |
By know, we should know that the automotive market is one of the hardest hit industries during the 2008-2009 economic recession. Generally, big automotive makers like General Motors and Chrysler almost went bust if not for government intervention. Nevertheless, Audi has recently disclosed their net income figures for 2009, whereby the company has performed poorly, whereby their net income went down by 39 percent, to $1.8 billion dollars or euro1.35 billion. And when you compare the figures to 2008 performances, Audi reported a net income of euro2.2 billion for that particular year.
Audi also added that their revenue also fell by an astounding 13 percent for 2009, whereby the figures are at euro30 billion, from euro34.2 billion in 2008. Audi even elaborated that their vehicle production rate also decreased by 9.4 percent to 932,260 cars in 2009 from 1 million in 2008.
Judging by the fact that the world automotive market is on track for recovery, perhaps Audi will be able to perform much better in the near future? Hopefully, the organization could capitalize the booming Chinese market, as clearly, the Chinese are buying more cars this year, as compared to the previous years.
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Monday, 08 March 2010 |
For those who have been frequently traveling between Great Britain and France should be well aware of the interconnecting tunnel between the 2 nations, ie the English Channel tunnel. Nevertheless, Eurotunnel SA, has been the authorized operator for this particular tunnel since the tunnel begin its operation several years ago. According to the latest figures released by Eurotunnel SA, it seems that the company recoded a slump for their 2009 net profit, and they attributed the losses due to a fire which happened undersea, which indirectly wiped out the company’s net profit for 2009.
Generally, Eurotunnel also mentioned that their overall net profit sank to only euro1.4 million or $1.9 million, from 2008’s euro40 million. Also, the company made efforts in restructuring deals between shareholders, which has helped the company to stay afloat for a little longer, and avoid the catastrophic bankruptcy.
According to news reports, it seems that a fire broke on Sept. 11, 2008, which caused part of the tunnel to be closed. The tunnel’s full capacity was only restored in February last year, which has caused the company to suffer gigantic losses, due to drop in car and truck shuttle services which have been using the tunnel services.
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Saturday, 06 March 2010 |
With the national debt reaching at an astounding $12.5 trillion dollars, the senate has miraculously approved the recently proposed jobless aid and other business tax breaks. Generally, the senate mentioned that these incentives might generally increase the national debt to a very uncomfortable level.
According to sources, it seems that the jobless aid was designed to help people who were unemployed to receive up to 99 weeks of benefits. Basically, the senate voted 66-34 supporting the proposed bill.
Personally, I find such jobless aid to be beneficial to unemployed people, but by further raising the nation’s debt, this will surely create more problems for the country.
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Thursday, 04 March 2010 |
For those who have been using Bank of America’s overdraft services, I’m pretty sure that you are well aware that the bank charges an overdraft fee of $35, whenever you request for an overdraft for your account. Basically, Bank of America has removed the fee in response to the rules set by the Federal Reserve, which bans banks from charging such fees on consumers.
Personally, I find such moves to be advantageous to existing Bank of America consumers. By waiving the $35 fees incurred, I’m sure consumers will have more cash to spend for that particular month.
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Tuesday, 02 March 2010 |
British Prime Minister Gordon Brown has recently disclosed that Great Britain will maintain their AAA credit rating. Generally, Brown said that the government will continue to maintain their top credit rating in the country, while freezing the pay for senior civil servants and military officers, in response to the nation’s increasing deficit.
Personally, I find the pay freeze for senior civil servants and other military officers to be truly appalling. Clearly, the men and women who are serving the government should deserve better treatment for their hard work. Perhaps, Brown would like to harbor less efficient employees for his administration, simply by paying lesser wages to them?
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Friday, 26 February 2010 |
The latest figures released by the Federal Statistical Office, showed that German’s exports have steadily increase for the month of January 2010. It seems that the Germany exports were up by 0.2 percent, compared to a very sharp decline for the month of December 2009.
Basically, Germany exported euro64 billion ($86.76 billion) worth of goods to various nations around the world. Germany’s import on the other hand, stands at euro56 billion for the month.
Personally, I believe that the world market is surely picking up steam at a very slow pace. With more consumer spending money, I’m sure that this will surely help the world market to gradually recover.
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Monday, 22 February 2010 |
The world stock market performed marginally well recently, whereby stock investors are awaiting the latest figures for the US economic data, and the latest batch of performances by Fortune 500 companies in the United States. Clearly, stock investors are trying to predict on whether the performances of these blue chip companies are up to their expectations – and if these figures are bad, I believe that this might somehow influence the confidence of stock investors around the world.
However, it seems that stock investors are pretty optimistic over the entire economic scenario, whereby major stock market around the world are already recording slight increase for the past couple of days.
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Friday, 19 February 2010 |
Earlier, economic forecasters have predicted an amicable growth for the United States. Generally, these forecasters have already been prematurely shot down, whereby the latest figures released by the Federal Reserve suggested that the growth for the country is indeed slowing down considerably – yet again.
Basically, forecasters predicted that the GDP rate for the country might stand in the region of 2.6 percent for Q1 2010. Surely, the figures recorded by the Feds, showed that the economy grew in less than half of the forecasted figures.
Do you think that the US economy will continue to grow in the near future?
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