Economy and Business Info

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International banks used a record Spanish government bonds as collateral to obtain financing in the markets during the last week, suggesting an improvement in confidence in Spain as fears subside as the fourth largest economy in the euro zone could renege on obligations to pay its debt, according to the British newspaper Financial Times. “
In this sense, the short-term loans backed by Spanish bonds on repurchase agreements, the main financing tool in the euro area, amounted to 160,000 million euros last Wednesday, according to the platform Broker Tec intermediation cap.
In particular, the paper points out that most of the entities involved to guarantee Spanish bonds are domestic institutions, which have been the most difficulties have had access to funding.

“Spanish banks are highly dependent on loans from the European Central Bank (ECB) because of fears about the stability of the financial sector,” says the paper.
“This is a very positive sign for Spain to reduce its dependence on loans from the ECB;” said Don Smith, economist at Cap, quoin adds that “also represents an important step in the right direction for the Euro zone.”
In this regard, “Financial Times” says that a big reason behind this increased willingness to accept bonds as collateral Spanish endorsement by LCH.Clearnet and Murex, which offer coverage to any “defaults”.

In particular, LCH.Clearnet, the clearinghouse in London, launched its clearing services for Spanish government bonds and repose on 9 August.
On the other hand, Cava Madrid last month became the first Spanish institution to adhere to EurexRepo, the electronic marketplace related to Murex Clearing, the exchange operator controlled by Germany, Deutsche Bores.

However, Spanish bankers still perceive difficulties in obtaining financing. “There are now more cash for Spanish banks, but is highly selective, short-term and focused on the big names,” said a banker on condition of anonymity, adding, “this is the reason why that banks and try to find new markets.”
Latest figures show that Spanish banks borrowed money from the ECB for a record amount of 140,000 million euros last July.

Today the United States met since the second quarter GDP was revised down from +2.4% to +1.6%. While this figure seems bad, not so much because the market was expecting a downward revision from +2.4% to +1.4%. This has given relief to the markets, which record highs this morning led by the Dow Jones (+0, 60% after opening).

We are waiting for what Ben Breanne may say today about the future of the economy during the Annual Meeting of Presidents of Central Banks, as well as the Consumer Confidence number of Michigan Universidad August (projected at 70 pts.)

With the above, the negative tone continues in international markets, but the contagion to emerging economies has been very limited.

For now, we maintain the negative bias, since there is no sign that this is over. However, we recommend caution in the current levels because the market three weeks of low accumulation

Since the boom in social networking platforms, many people from various industries recently took notice of the Internet as a platform for “serious” business and marketing.

Because of this rapid growth and explosive, a good number of businesses and independent professionals have overlooked the basics of internet marketing and have trained many myths. Here I tell you that I think are the three main

one. Web traffic is not as important

People / businesses that do not get much traffic (visitors) on their websites obviously tell you that traffic is not as important, but you must understand that traffic is what makes a business on the Internet is good or not.

While you and your business are exposed to, more people the better. It is true that most important is the quality of the visits that are interested in what you have, but who said you cannot have quality visits, and many are themselves?

2. The email marketing is dead

the fact that now the majority of internet users spend much time on social networks does not mean go out there to sell directly.

When you signed up for You Tube, Face book, Twitter and linked in did you do it without an email account? Are communications about your bank account you send them to Face book or Email? “To integrate a payment platform on your website ask for your credit card and your Twitter account or your email account?

Use an email marketing service (not just your RSS feed subscriptions) as Weber for example, and have an email list of subscribers volunteers, with whom you have a good relationship because they give useful content … is the most powerful thing you can have with your internet business.

3. Not need to invest in knowledge because there is free information on all

the great Jim Rohm said, “Skip a meal if you must, but never do with a book.”

Not all information is freely available; do not believe the story of people who skimp on their training. If you want to earn serious money, invest in yourself and your business … invest in the experience of others, no bargain for your success.

Obviously not, invest in any book / course. Notice that the author has own results with what he teaches, and that is key … the author must have own results with what he teaches.

The social network marketing goes far beyond having a bog, a Twitter account and Face book page. Marketing on social networks does not work “in all its glory” if not very well known internet marketing in general. You must have a proven business model, before joining social networks.

Zero coma was established in 2005 to design, develop and market document management solutions among which the main one is EdasFacturas, which seeks the issuance, receipt and invoice management under the tax law which makes it obligatory to issue an electronic invoice (Law 30/2007 of 30 October and the Presidential Order 2971/2007 of 5 October) and the possibility of keeping paper invoices received in electronic format allowing, thus, the destruction of the paper.

This legislation was contained in RD 1496/2003 of 28 November and was subsequently developed in the EHA Order 962/2007 of 10 April, after which published the Resolution of October 24 defining the requirements needed to fulfill for approval certified scanning software for invoices were scanned tax value.

Zero comas was recognized and included in the website of the AEAT, a manufacturer of electronic invoicing solutions in 2007 and subsequently obtained the approval EdasFacturas the AEAT and the four Provincial Council of Alva, Guipúzcoa, Viscera and Navarre for digitization certified.

The recent announcement by the head of the Ministry of Finance and Public Credit, in relation to the intention to limit the transactions in dollars in the bank counters as a mechanism to prevent money laundering, have a regressive effect wing border region’s economy and thus this effect will affect the rest of the economy.

This is considered the vice president of the National College of Economists, José Luis Contreras Valenzuela, saying While it is important to implement control mechanisms to prevent money laundering as part of a strategy against organized crime, it is also true that policies are implemented should not affect the smooth running of the economy.

Nor should become inhibitors of economic activity, because the crisis deepened generate better conditions for the rise in crime, he said.

“We must not fail to see that crime and the illegal actions take place more rapidly when the conditions of economic activity suffer a crisis so deep that even we could not get out. In addition, have enough memory to remember that these conditions have worsened in recent years, “he said.

He said it is important that public policy have as its fundamental objective to create conditions for healthy growth of the economy, creating jobs, facilitating the operations of enterprises and productive assets in order to create jobs and revive the market.

However, if we persist in implementing measures to absurdities such as limited-counter foreign exchange transactions, an economy where many commercial transactions occur in dollars, we think that a measure such as the Ministry of Finance audience, he said.

Contreras Valenzuela said that this business practice every day in the border cities, demand for a facility and foreign exchange controls and implemented as the one introduced by it, pushed to the users of dollars of housing market change, promoting speculation and black market dollars.

He said that in the six northern border states of Mexico accounts for forty percent of the national population in border cities like Ciudad Juarez, Tijuana, Medical, Matamoras, Reins, Nuevo Laredo, Nogales and Ague Pieta, focuses almost twenty million Mexicans.

Crude oil futures in the U.S. fell in May closed on Friday and the biggest monthly decline since December 2008, during the financial crisis.

The contract fell to risk aversion that caused the reduction in credit rating of Spain.

In the New York Mercantile Exchange, crude for June delivery fell 58 cents, or 0.78%, to 73.97 dollars per barrel, trading from 73.13 to 75.72 dollars.

Crude for the nearest contract fell 12.18 dollars, or 14.1% compared to April, its biggest percentage drop since December 2008, when prices declined by 18.1% from the previous month.

London Brent crude on the ICE closed at 74.02 dollars.

Fitch Ratings downgraded the credit rating of Spain on a step, saying the country’s economic recovery would be “weaker” than projected by the Government, due to the severe austerity measures adopted this week.

“Oil futures are down a lot and all down to the news of the credit downgrade of Spain. Looking long weekend, crude oil has clung to the stock market is falling because of fears in euro area, “said Mark Waggoner, president of Excel Futures in Bend, Oregon.

The Dow and S & P 500 in May recorded its worst monthly percentage drop since February 2009.

The euro fell after the decision of Fitch Ratings to downgrade the rating to Spain.

Weak economic data in the United States also pressured crude prices.

U.S. consumer spending was unexpectedly flat in April, although disposable income posted its biggest increase in nearly a year, the Commerce Department said.

The Institute for Supply Management-Chicago said its index of business activity in the Midwest fell in May. The business grew by less than expected after the decline in employment data.

U.S. consumer sentiment rose slightly in May compared to April but remained near the levels reported since February, while inflation expectations one year climbed to a record since October 2008, a survey group of Thomson Reuters and University of Michigan.

Earlier in the session, crude futures rose sharply on the rise of the euro and global equities.

Oil prices were extremely volatile in May. U.S. crude hit an intraday low of 64.24 U.S. dollars on May 20 before the expiry of the position in June, nearly $ 23 below a maximum at $ 87.15 3 May, and its highest level for 19 months.

The volatility made investors cautious, although some oil traders say the market would have found a floor.

A survey on Friday of the Organization of Petroleum Exporting Countries (OPEC) showed a rise in crude supply in May to its highest level in 17 months.

Oil demand in the United States climbed nearly 7% in the last four weeks, said the Energy Information Administration (EIA for its acronym in English), and led by a 16% rise in demand for distillates, which include diesel and heating oil.

The head of the Central Bank of Venezuela Armando Leon noted in the last quarter there were minor delays on a set of areas of the economy and that was the cause of the fall of 5.8% of GDP. He said already bottomed out and now must improve the performance of the economy.

Leon reported that between Friday and Saturday must be finished testing the new system for the currency market on Monday and 90% of the system is ready.

The Back’s management denied the data of Conindustria whereby 40% of imports swap was made with U.S. dollars. He said there is no way that that was true and if it appraised and its costs is another matter.

In his view, between 15% and 20% of imports may be held with the exchange.

Armando Leon said that in Venezuela, there is economic and business activity engaged in operations and investments and the proof is that they have paid almost $ 100,000,000 in foreign newspapers