Is the market of luxury goods in crisis too?

To continue the business with luxury goods is necessity most of all, the people to feel good, spending a lot of money. In the time of conferention in Moskow, the director of Louis Vuitton - Bernard Arno went in explanations, to take out the fears of investors connected with negative influence of the credit crisis, the possibility of recession and weak dollar. Against all expectings, Mr. Arno announced, that sellings will jump double in the next 5 years because of the stable searching from the side og growing markets.
After going away of the bad doings in the beginning of the 10-years, connected with terrorist attacks in USA, fears of terrorism and the war of Iraq, which killed the interest of the people in excentric goods, the market in the last 3 years waked up. According to marketing agency Bain, in 2006 sellings had growed with 9% to159 billions USD. The expectings for this year had reached 170 billions USD, which is 2 times more than the incomes realized in 1996.
In spite of the crisis in the US economy, the luxury goods sellings are going in good direction and the prioritets of Americans are really changed and absolutely turned down

Gazprom with ultimatum from Central Asian countries

Three of the richest of gas countries in Central Asia, yeasterday made a great change with their relations with Gazprom. The directors of three state companies "Turkmengas", "Uzbekneftgas" and "Kazmunaygas" made a visitation of the chief of Russian comany and told that they will sell the gas to European prices from the next year.
So Moskow, which in international diplomacy, not only once speculated with the threat to create "Gas OPEC", together with other large gas exporters, for the first time met the point of view of the companies.
It looks that the difference had formed because of active diplomacy of American and European governments, which are trying to establish an alternativ of Russia trace for exporting of Middle Asian gas for Europe, claim commenters of "Vremya Novostey".
Paradox according to Russian journalists, that if Gasprom agree with the options of the ultimatum, the Trans-Caspian project, supported from Washington, will be stopped. Together with this the intentions of Russia to realize Caspian gas-main are going stronger, in which the Russians are planning to transportate 10 billions cubic meters Turqmens and the same value Kazachtan's gas.

Fortis lost 1.5 billion EUR from the mortgage crisis in USA

Dutch-Belgian financial company Fortis today, announced that its profit in 2007 had decreased with 8.2% when it should lose more than 1.5 billion EUR, because of the crisis in secondary American Mortgages. This result is based on often relations to the investors and hard rating of obligations for owes in the sector of secondary mortgages, told from the company.
In the previous year Fortis had registered 3.9 billions EUR net profit, but 900 millions from this are from the selling of its unit CaiFor to the Spanish Bank Caixa. Without outside incomes , the net profit of the financial company is 3.06 billions EUR, which had a decreasing of 30% in comparison with the result of 2006.
Fortis together with Royal Bank of Scotland and the Spanish Bank Santander soon took the Dutch bank ABN Amro for the recor value of 71 billions EUR. From Fortis announced, that the prices of passage and integration is going with full power.

Warren Buffet in front of Bill Gates according to Forbs Magazine

The founder of Berkshire Hathaway Inc., Warren Buffet took the place of Bill Gates from the top place of yearly rating for world billionairs of Forbs magazine, where the founder of Microsoft was number 1 for the previous 13 years. The fatal 13 year he lost the place.
Because of realized incomesfrom shares, for nearly one year the money of Buffet had increased wfrom 10 billions USD to 62 billions USD. According to Forbs magazine, the capitals of Bill Gates increased with only 2 billions and reched 58 billions USD. So the computer magnate is on the third place after the mexican Carlos Slim and his 60 billions USD.
The number of world billionairs had increased only due to the growing markets. Nearly 70% from all new billionairs are from Russia, India, China and USA.

E.ON will sell part of its net

From the European Commitee announced earlier today, that German company E.ON is ready to sell high-voltage electritional transmiting nets to operator, who had a big interest in enrgy business.This is something like an answer to some affraids of antimonopol regulational comitees in Germany and Brussels.
From E.ON had announced that they want to distribute the productional capasity of 4800 MW power, to concurent companies. The European commitee will give official documents of the German Company, which will certify the agreement for selling.
"If the transaction is made in previously pawn plans, this may bring for improving of the competition in energy sector in Germany", wrote in official appeal the European Commitee.
From Brussels announced, that they will continue to look at growing monopoly stuation in the energy sector in Europe.

Siemens will close SEN

It is officially: Siement will cancel nearly 3800 working places in its company for phone equipment SEN. The factory is working on loss from some years. More 300 employees will lost their work in the German Concern, because of sellings of sections and cooperations, wrote Die Welt. From direct discharging 3800 working places, nearly 2000 will be in Germany.
To prevent the socially dissatisfaction, which bursted in closing the factory of building mobile phose BenQ, in Siemens claim alone to make the shortening of the employees.

German Business Support Raising

German Business support increased in february, which is giving a strong indication for successful solving the problem with the incresing of petrol price and mortgage crisis, in the largest economy in the Eurozone. The situated in Munchen IFO institute, gave information about the inex of business moods in Germany, which had grown to 104.1 points, from the level of 103.4 in January. The economists expected its decreasing to 102.9 points, and today's datas were assumed as very pleasant surprise.
"The expectings for economy development of the world ate still stable, in spite of the credit crisis in USA", commented analyzer from Deutsche Bank. "We can not deny, that the economy will have delay, but development of economy markets will lighten the preasure over German export and will support domestic product and employment", continued he.
Today's stong datas for economy development of Germany will give confidence of the European Central Bank in the fight wil growing inflation. The expectings for future first interest decreasing in the Eurozone, became unserious. Immediately after reporting of the datas, EUR started quickly to increase toward the USD, reaching the level of 1.4875 USD per 1 EUR. The German exchange index DAX30 is the leader of increasing today with 1.60% growing.
"The world will not feel the whole recesion", commented the director of BASF SE. "We will continue to have economy growing this year, which of course will be a little bit smaller than the previous one, but will be possitive", continued he.

Iron ore from South America with 65% more expensive

Metallurgic combinates of Japane and South Korea agreed for 65% increasing of the price, which they should pay about iron ore, imprted from Brazil, wrote Reuters. This is first serious moving for the years in this sector. The price agreed between two contries will be the level that should be paid from the steel producers. The shares of the companies - producers of steel, like Japanese Nippon Steel an Chinese Baosteel increased after this agreement. This was only because the market reacted good and the expected increasement was even bigger. "One of the negative factors over the shares prices was st free", commented the investors. Shares of Nippon Steel increased with 3.8%, and those of Baosteel with 2.85%. The index of the steel and iron sector in Tokio increased with 4.2%, while the avarage increasment of Nikkei was 0.7%. From the year started on the 1st of April, Nippon Steel and Shouth Korean Posco agreed to pay to the Brasilian mining giant Vale, 78.90$ for ton iron ore.
The shares of Australian companie BHP Billiton andè Rio Tinto decreased in expncting of new higher prices, reflecting trading avantage in deliveries of iron ore for Asia from Australia, in stead of South America. "Australian companies are too busy in the battle for absorption", commented analyzers.