Sunday, November 30, 2014

Markets, who wins the mini-oil – Il Sole 24 Ore

Markets, who wins the mini-oil – Il Sole 24 Ore

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This article was published November 30, 2014 at 14:52.

The price of Brent oil last Friday fell below the threshold of $ 70 a barrel. The WTI fell to $ 66. More than half compared to the record highs of 2008. The decline in oil prices, which proceeds for several months, has intensified in recent days after Thursday OPEC has renounced to counter this devaluation. The cartel of producing countries could reduce the global supply through a production cut, raise oil prices. But chose not to do so while maintaining the current levels. A decision that is likely to have a strong impact on the balance of geopolitical world and that has had, and is likely to continue to have serious repercussions on the markets.

Winners and losers in the stock market
The decline in oil prices is a disaster for those who sell it but not for those who consume it. Bad for economies very dependent on oil exports. Good for those who imports it. Italy for example, that, according to an estimate of Intesa Sanpaolo, one could earn 0.3% of GDP a year more for every $ 10 drop in crude oil (see article opposite). And the same goes for companies. This week, in the face of the collapse of energy stocks, we saw an excellent performance on the Stock Exchange of airlines. Friday the title Lufthansa gained 4.5%, while Air France has scored a rise of 6.4 percent. The entire Travel sector, in a lackluster day for the stock markets, gained 1.38 percent. The reason that this has happened is clear. For airlines voice fuel has a specific gravity remarkable. Exceed 20% of operating costs in the case of big and can even over 40% in the case of low cost airlines. And it is clear that, as for motorists, reduced spending for the full go to the benefit of the budget.

Who loses, obviously, is instead the energy sector. According to the database S & amp; P Capital IQ in the last five sessions of the 100 largest energy companies in the world have burned some 170 billion euro of capitalization. The descent, in hindsight, is in place for some time. At least from mid-June. That is, when oil started to decline since then Brent was devalued by 38% and the value of shares in the energy sector went to tow losing about 20 percent. In terms of capitalization of the top 100 have burned more than 220 billion euro in five months. Analysts, for their part, have drastically cut their earnings estimates. If at the beginning of the year, analysts’ consensus of S & amp; P Capital IQ predicted for energy stocks listed on Wall Street profit growth of 13.06%, today we expect a more rueful +3.34 percent. For next year, which until a few months ago was expected to increase, it is estimated a decline of 3.64 profit.

The risk bubble on shale oil
Saudi Arabia is the largest shareholder of OPEC and the person who has most inspired the decision not to cut production. And he did it because if you can afford it since it has mining costs lower than in other countries and can mantentere decent profit margins even at current prices. The same is not true for US producers who, thanks to the “shale” in recent years have emerged as the new players on the market. Shale oil is much more expensive and is likely to become uneconomical to produce at current oil prices. This, however, puts at risk the sustainability of debt many companies have contracted to finance the extractions. Aware of these risks, the market sold the bonds at high risk in the energy sector where rates have risen on average by 5.6% beginning of the year to 7.3% now. The default risk of shale gas is a threat to the entire bond market at high risk. To date about 16% of the US market by a thousand and $ 300 million of so-called junk bonds refers to the energy sector.



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We are hungry, but for Renzi and Poletti work increases – ilgiornaleditalia

We are hungry, but for Renzi and Poletti work increases – ilgiornaleditalia

While the Institute of Statistics photo shoot yet another disaster on employment of our country, the President of the Council Matteo Renzi and the Ministry of Labour rush to tone down speeches and camouflage the reality of things. In lightning visit to Catania, the tenant of Palazzo Chigi invites Italians not to look “only the glass half empty”, admitting that yes, “the data of the unemployment worry us,” but it is equally true that in Italy “there are more than one hundred thousand jobs in more” since the secretary of the Democratic Party became premier.

This is echoed by the Ministry of Labour , which spread in the first figures on the “Compulsory Communications” relating to the initiation of new employment contracts and in the third parasubordinato quarter of 2014, explains how the last year went up by almost 2%, the number of fixed-term contracts. These explain the department led by Giuliano Poletti, “account for about 70% of new contracts, an increase of 1.8% compared to the third quarter of 2013″.

Precarious work, then. But you better not say it. Indeed, Via Veneto, the dose increased the coverage and indicate that compared to 2013 appear to be also increasing permanent contracts, with about 400 thousand new contracts and a decline of 7.1% on the first positive. Sara. The fact is that in the same press release highlights how labor relations were interrupted almost 415mila 2 million, with a dynamic of + 0.9% over the previous year. The figure, explain again, is due mainly to an increase in terminations of fixed-term contracts, which account for just 65% of the total number of terminations.

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A family of four with no bonus, alarm Confesercenti – ANSA.it

A family of four with no bonus, alarm Confesercenti – ANSA.it

Increase the families who can not rely on the thirteenth. An Italian in four, according to a survey Confesercenti-SWG, declares it not to have in their household that no one benefits more in salary, compared with 22% last year. In general, however, thanks to low inflation and the contractual increases the thirteenth this year will amount to 42.3 billion, an increase of 0.6%, or 8 euro more for each worker. 12.8 billion, however, will end in mortgage and outstanding accounts.

The 2014 – for the survey – has been a difficult year in which Italy’s situation has worsened, but Christmas is always Christmas and families spend for gifts 7 billion euro, 270 million more than last year, although prefer the convenience to quality. 47% of Italians approach the holidays with an attitude “hopeful”. To lend a hand will be the thirteenth, 42 billion (euro per worker on average +8)

Despite the increase in spending, only 14% of respondents of the survey says it wants to spend more gifts than the holidays last year, while 31% opted for spending in line with 2013 and 55% choose instead, for this year, to spend less. Among Italians remains, therefore, an attitude of great prudence and convenience this year will be the watchword to juggle the streets shopping season: 71% of the sample answers, in fact, that you will allow affordable gifts to celebrate while only 16% prefer quality gifts for loved ones and, finally, a 13% admit that it can afford no gift.

For the little ones will tend, however, to guide the choice towards useful gifts, as evidenced by the choice of 43% of the sample, but a 31% does not give up the tradition of the games once and, finally, a 12% who opt for technological surprises. 60% of Italians, however, will reduce the cost of Christmas. The small increase in the thirteenth, due to low inflation and increases contract, will be a relief, but only for some: well one Italian in four, in fact, say that they have in their household a person enjoying the salary more. Also well 12.8 billion will be used to pay mortgages and outstanding accounts. But the gifts that Italians would like to find under the tree can not be bought with the thirteenth: 35% vote for the reduction of unemployment, 30% for a decline in taxes, 24% for a containment of privileges and abuses.

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Saturday, November 29, 2014

Taxes doubled compared to income at the expense of the families – 24hlive

Taxes doubled compared to income at the expense of the families – 24hlive

Each of us in their own little realized that in recent years the taxes are growing dramatically and at the same time entering remain largely the same.

To give confirmation of this negative feeling of the entrances and exits of the Italians, we thought the CGIA Mestre who raised the alarm on this situation living Italian families.

Over the last eighteen years, from 1995 to 2013, the tax burden on families grew double the income that they receive.

Each year, on average, families Italian weighs a tax charge of € 15,300, with a tax levy in recent years has increased by over 40%, while incomes have risen less than half a percentage that is settled at about 19.1%.

In addition, not only taxes, taxes, taxes, social security contributions have increased dramatically in many regions of our country the quality of services such as education, health, transport and defense have worsened in recent years.



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