Daily Archives: April 14, 2012
The collapse of about 50 investment funds dedicated to high quality wines and special editions in the last four years in the UK, may have led to losses to investors in excess of 100 million pounds (120 million euros).
The funds dedicated to investing in this type of wine offered little benefit in a time of market crisis, but the bankruptcy of many of them have made their customers to see their savings disappear.
Experts consulted by the public radio station BBC said that it has detected a terrible management in many companies offering the opportunity to earn money by investing in quality wines.
Ailyan Nadin, an expert on bankruptcy, said he estimated at least 50 of those funds had been problems of insolvency in the UK and the money lost amounted to one hundred million pounds.
He said that in many cases there had been “colossal” failures in the management of funds, while another manager said that many victims only receive in cases like these between 15 and 20 percent of the money they had invested .
Some of the victims who participated today in a radio program of the British public broadcaster revealed that they had lost more than 100,000 pounds (120,000 euros).
A widow, who identified herself as Sarah, told how she invested, after the death of her husband, 180,000 pounds in a background of wine last year I reported that it had broken, which has lost all his money.
Sarah said she was embarrassed by that investment, acknowledging that he knew almost nothing of the wine market but that the operator of the Bordeaux UK Limited company had been very “persuasive”.
The Securities Commission of Argentina has confirmed that investigates the high volatility in the stock price of YPF oil company, controlled by the Spanish Repsol and in conflict with the Argentine government.
In remarks published today by the Argentine government site, the owner of the market regulator, Alejandro Vanoli, explains, “We have noticed that the action of YPF has a volatility that is not normal, with volumes well above normal for this company and with prices that are much swing. ”
The National Securities Commission (CNV) of Argentina, which opened an investigation into this matter on 23 March, has requested cooperation to the Securities Commission of the United States (SEC) since the actions of the oil are traded both in the Buenos Aires Stock Exchange and in New York.
“The SEC is doing more checks of agents operated, see who are buyers and sellers and, on that basis, seeks to establish a pattern which would result in violation of transparency, the SEC rules or laws,” said Vanoli .
He said that the regulator will summon the agents and operators of bag that held the most important moves to make his defense “to determine responsibilities” or to apply the “sanctions,” said Vanoli, who warned that the regulator “will act very strongly “.
YPF’s shares closed Friday on the plaza of Buenos Aires to 118.9 pesos (27 dollars) per unit, with a drop of 3.33 percent on Thursday after rising 7.42 percent.
So far this year, the paper builds a drop of 29.03 percent, subject to uncertainty about the Argentine government’s plans regarding the control of the oil and the impact of specific actions such as removing a fortnight of operating areas.
Exposed to high volatility, according to a report of the Argentine Institute of Capital Markets, among the most traded stocks in March, the YPF have been the best performing, with a cumulative gain in the month of 17.6 percent.
But so far this April, the action builds up a drop of 19 percent.
Repsol YPF is controlled by, which has 57.43 percent of the shares, but since 2008 the executive of the oil fields are in the hands of the Argentine group Petersen (owner of 25.46 percent),
The Argentine government owns 0.02 percent of the shares of YPF, while the remaining 17.09 percent is listed on the Buenos Aires and New York.
YPF last year earned a net profit of 5,296 million pesos (1,203.6 million), 8.5 percent less than in 2010.
The president of the Xunta, Alberto Nunez Feijoo, today warned that the Argentine authorities should meditate well any decision on YPF, for something that may be interesting in principle, “without doubt the medium to long term would be an historic mistake” .
Nunez Feijoo has referred to the possible intervention of YPF, the Spanish subsidiary of Repsol, told reporters on his arrival at the meeting held in Madrid the prime minister, Mariano Rajoy, the PP regional barons.
For President Galician, would be wrong for countries that maintain a ratio of imports and exports and that have important communities living in their territory have such problems and “failures of international law”.
Hence he has requested the Argentine Government to think very well what to do and the possible consequences before taking any decision.
The Union of Self-Employed and Entrepreneurs (UATAE) has estimated that 180,000 carriers today, masons and painters will leave the module system of taxation due to change in order to avoid false invoices, which will “increase their burdens and management costs in difficult times” he lamented.
In a statement, the association shows its “nuisance” because of measures taken yesterday by the Council of Ministers under plans to combat tax fraud “seems to follow a clear suspicion” of these sectors, “are precisely the who suffer most from the crisis. ”
In his opinion “most worrying” is that new obligations will entail administrative and accounting books preparing invoices and filing quarterly and annual reports, which will force the self to pay an expert to help them meet their tax obligations.
Also, UATAE has emphasized that the vast majority of tax fraud comes from “the very wealthy,” so stressed that “once again chasing the shot is deflected to the self.”
The output of specific modules system professionals (who pay a fixed amount depending on different factors such as local meters, number of employees and others not of their turnover) was a collective claim that tax inspectors identified this system with a “nest of false invoices.”
Spain has moved to the No. 23 in world rankings UN comparing the level of development of eGovernment in the countries of the organization, which represents a decrease of 14 positions compared to 2010.
Although Spain made it to ninth place in the previous report, in 2010, the UN stands in the latest study about the country remains “leader” in southern Europe, followed by Slovenia and Croatia, which occupy the spaces twenty-fifth and thirtieth, respectively, in the global list.
United Nations at the forefront of the global list to Korea, the Netherlands and the UK, while Spain, with a score of 0.777 on 1 is included among the “25 emerging leaders” in e-government behind Austria (0.784) and Iceland (0.784), and ahead of Belgium (0.772).
As regards the classification of countries by their telecommunications infrastructure, led by Liechtenstein, Spain is the thirty-fifth place with a rate of 0.632 points on 1. Ahead is Japan (0.646) and back, Dominica (.622).
Regarding human capital, Spain is the eleventh, ahead of Norway and Holland behind. On citizen participation in eGovernment, the country is ranked 33.
The UN’s report highlights the role of Spain in accessibility because of the 25 states that offer mobile government sites, the country is among the 14 that include special sections for vulnerable social groups.
The president of the Community of Madrid, Esperanza Aguirre, said today that the output of the economic crisis passes for “saving all the places where you can save.”
That has been the response of Aguirre on arrival at the meeting of Prime Minister, Mariano Rajoy, the PP with his barons, when asked about the possibility of the devolution of power that she has defended this week is, in its view the best solution to the crisis.
The president of Madrid, in his remarks to reporters, did not disclose whether the meeting today will raise the devolution of power and has merely stated that hear you say the Prime Minister.
It has insisted that no choice but to make cuts because Spain is going through a very difficult and important the unit and everyone pitch in.
“I am convinced that we will emerge from this crisis as we have surpassed previous ones,” he added.
Two Ryanair planes have been involved tonight in a slight accident at the airport in San Pablo, Seville, when one of them performed a maneuver to get out to the runway, but no passenger has been damaged in the incident .
As reported to sources Aerodrome Civil Guard in Seville, the collision, which has covered important, there was next to a “finger” of shipment, when one of the planes in a move out to another who was grazed next.
The planes affected have been left at the airport to be subject to review and passengers from both flights have been transferred to two other devices that were available and taken off just after 00:00 hours, shortly after the incident, as explained by the same sources.
Colombian singer Shakira, defender of “filantropicapitalismo” today started the applause of presidents and business owners to ask them to give a “historic step” and invest in early education, and also promise that if they do make money.
Shakira was one of the speakers at the first Summit of the Americas, which was preceded on the podium by the presidents of Mexico, Felipe Calderon, Chile, Sebastián Piñera, and Guatemala, Otto Perez Molina.
“Singing and music I like and make me as happy as promoting education,” said the author and performer of “Crazy” and “Waka Waka” among other hits.
The singer was one of the stars of the opening day of this forum framed in the activities of the Sixth Summit of the Americas, tomorrow and Sunday will gather in Cartagena presidents and prime ministers from 33 countries.
Shakira made a passionate defense of the need to address early childhood, children up to six years, which is the most important stage of life from the educational point of view and from others, when it is forging the future of the person .
Latin America does not have enough early learning centers, said the singer, who through her Barefoot Foundation is dedicated to providing education to poor children and collaborates with other entities within the same scope.
However, employers are not asked to believe but do foundations “social investment” in the field of education.
Former Prime Minister Jose Luis Rodriguez Zapatero has defended Leon now that Europe is the “best bridge to unite” at this time that “the cares” question the European Union.
Rodriguez Zapatero has made these remarks during his speech at the opening ceremony of the restoration of the medieval bridge Órbigo Hospital conducted during the years 2010 and 2011.
In his speech has said that this bridge, the most emblematic of Route Jabocea as highlighted, is an “opportunity to recall that in the Camino de Santiago melts European sentiment, which in the Camino de Santiago is the origin of Europe and European Union and that a bridge bank serves to unite, to bring the different sides. ”
The former president has emphasized the importance of “re-affirm” these days “of anxieties and uncertainties that challenge and question us about the EU” the best bridge to “overcome” and to “unite” is Europe.
Zapatero, who has been invited to act as a “promoter” of the restoration of this infrastructure as highlighted by the local mayor, Enrique Bustos, has given credit to the people of Órbigo Hospital “for his tenacity” to when claiming “their primary identity.”
The event also counted with the participation of the former Culture Minister Carmen Calvo has argued that with or without a crisis the most important of democratic life is the culture because it is “the soul of a country.”
At nine o’clock the local and provincial authorities have received the former President at the entrance of the bridge Órbigo Hospital where the act has begun with the discovery, at the hands of Rodriguez Zapatero, a new inscription on the monolith that recalls the first restoration carried out in 1951.
Then, the procession accompanied by dozens of villagers have walked this bridge national monument in 1939 and for whose restoration has invested nearly two million.
Zapatero has been in charge of closing the interventions with a “mayor, be light” has given way to on the bridge, which has installed LED lighting system, and a fireworks show.
The story of the day have shaped the former Minister of Culture Carmen Calvo and former Interior Minister Jose Antonio Alonso defense to which has been missing once the tour of the bridge and have appeared on the side after being contrary sightseeing around the village.