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Volvo reported Wednesday a 4% drop in shipments from trucks in April from a year earlier, sluggish demand in Europe and South America have overshadowed ; a strong recovery in North America.

The second largest global industry saw its shipments fall by 22% in Europe, its biggest market, while increasing by 39% in North America.

The industry is facing hard times in Europe, with widespread debt crisis, but also in Brazil, the first South American market, where demand is suffering from new rules on emissions.

Deliveries from Volvo in South America fell 30% while they increased by 9% in Asia. 

The Volvo share fell by 1.9% to 82.40 Swedish kronor (9.02 euros) to 8:35 GMT, while the benchmark index of the Stockholm Stock Exchange yielded 0.84%.

Volvo, which manufactures trucks under the brand name but also under names Eicher, Mack, Renault Trucks and UD, had raised its annual targets for Europe in late April, saying anticipate an increase in production over the coming months.

The band, which rivals the industry leader Daimler, said Wednesday that its production would increase slightly in his division in the second quarter and Renault for its Volvo brand in the third.

Volvo expects a contraction of the European market for heavy trucks to 230,000 vehicles this year, against 242,400 in 2011.

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While European countries are being hit hard by the economic crisis, Poland, EU member since 2004, is the only one to succeed at the game's GDP grew by 1.6% in 2009 and three , 8% in 2010 (source: OECD).

The country has many strengths that explain this singular economic health. Since the end of communist rule in the 1990s, Poland has embarked on major structural reforms to transform a collectivist economy in a market economy. To do so, the country receives substantial support from the European Union to finance large infrastructure projects, including the equipment needed to hold this year's UEFA European Nations Football. Subsidies granted by the EU for the period 2007/2013 reached 95 billion euros (source: Embassy of Poland).  

Poland, which enjoys a stable political system, attracts foreign investors, sensitive to the importance of a rich market of 38.5 million consumers.

She finally has a strategic geographical location between Eastern Europe and Western Europe, making it an economic and commercial hub.

The study HSBC Global Connections: Trade Forecast Poland (February 2012), the Polish trade growth should be higher than world trade, reaching 5.7% from 2012 to 2016 and between 6.8% 2017 and 2021. These figures show the speed with which the Polish economy is integrated into global supply chains, especially in the automotive and electronics. Thus, Poland imports from China of spare parts it assembles radios to export the finished apparatus to Hungary or Germany.  

In automobiles, it produces and exports of both vehicles and replacement parts. Forecasts of vehicle exports to France and the UK are soaring (respectively 8.3 and +8.75% per annum by 2016), despite weak demand in Europe, which shows the emergence new trade corridors in this area.

If, in the longer term, growth levels observed in Poland tend to be reduced, as the country has caught up with its neighbors to the EU, Poland should maintain, for the next five years, its number 10 in the global ranking of the major emerging countries.

Euro Disney announced on Monday a net loss deepened and reduced its EBITDA margin in the first half 2011-2012 as a result of costs for its 20th anniversary festivities.

The operating company of Disneyland Paris has improved one percent of its revenue from tourism activities for the period of increased spending by visitors to its parks, despite a decline in attendance.

The group reported in a statement to a net loss of 120.9 million euros in the first half 2011-2012 (October-March) against a loss of 99.5 million, with EBITDA margin reduced to 0.3% against 4.5%. 

Its total sales down 0.9% to 552.4 million euros within the scope of the reduction in its property development activities and lower revenues from its hotels which the occupancy rate fell by 3.6 points to 79.8%.

Rolls-Royce said Friday it was on track to post strong growth this year, continuing to capitalize on the need for airlines to have had less intensive ké ; Rosene.

The British group, second largest manufacturer of aircraft engines behind General Electric, said the year had started well for him and confirmed its objective of significant growth of beneficial fice in the civil aviation and space.

"For the full year, the group still expects good growth in turnover and profit, excluding exceptional circumstances and with a cash flow to roughly ; s at equilibrium, as we continue to invest in future growth, "says Rolls-Royce said in a statement. 

Airlines around the world to equip aircraft models lighter to cope with soaring fuel costs, which, combined with European debt crisis weighs heavily on the sector.

They will acquire for about 2.7 billion euros of airplanes over the next 20 years to meet demand for flights to and from emerging countries, particularly in Asia, say aerospace giants Boeing and Airbus.

These forecasts highlight the growing demand for single-aisle aircraft like the Boeing 737 and Airbus A320. Some analysts 20,000 narrowbody aircraft of this type will be produced over the next two decades.

Rolls-Royce, which recorded an increase of 21% of its profits in 2011, has more than 5,000 engines on order, worth a total of 52 billion pounds (64 billion euros).

A new joint venture between Rolls-Royce and U.S. rival Pratt & Whitney to be officially established this year. It must develop the next generation of engines for medium-range single-aisle.

At 10:45 GMT, action Rolls-Royce lost 0.29% to 856.50 pence, but it earns about 16% since the beginning of the year.

The British group is expected to announce a pretax profit of 638 million pounds (786 million) in the first half of 2012, and 1.44 billion pounds (1.72 billion euros) on entire year, according to analysts polled by Thomson Reuters.

The priority given by the European Union to austerity should not be questioned even if the means of stimulating growth are in the focus of next week, has Monday said the German finance minister, Wolfgang Schäuble.

"Fiscal consolidation is not only necessary but is necessary for a specific purpose: to generate sustainable growth, which is the best way to generate employment" , he said during a joint press conference with the Spanish Minister of Economy, Luis de Guindos.

"The economic and fiscal consolidation is the first condition. If we now speak of growth, we must not understand this as a change of course. It would be wrong. Priority (for austerity) must remain, "he added, before holding that Spain was on track

… Referring …… French presidential election, he felt that his result would not call into question the European fiscal pact

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The public deficit of Greece for 2011 amounted to 19.6 billion euros, or 9.1% of GDP. The public debt reached 355.6 billion euros, to 165.3% of GDP. The Standard & Poor's downgraded the long-term CC and C short term rating of Greece to SD (Selective Default). (REUTERS / Pascal Rossignol)

The public deficit of Greece for 2011 "is estimated at 9.1% of GDP, to 19.6 billion euros", said Monday the Greek Statistical Authority (Elstat) in a statement. "The Greek government debt for 2011 reached 355.6 billion euros, to 165.3% of GDP", according to this text. These figures are very close to the forecast contained in the budget of the country voted in December, which foresaw a deficit of 9% of GDP, against 10.6% in 2010 and a debt of 161.7% of GDP, against 144, 9% in 2010.  

"Greece has managed to reduce by two years the general government deficit of 6.5 points (…), which we will soon have primary surpluses," said Finance Minister Philippos Sahinidis, quoted in a statement. Mr. Sahinidis predicted in March that the deficit would amount to around 9.2% of GDP. First country affected by the debt crisis, Greece is subject to a strict austerity program to consolidate its public finances. This program, dictated by its creditors EU and IMF, was agreed in exchange for international loans and a debt restructuring that enabled the country in March, erasing about 105 billion euros.

"The need for continued effort to restore fiscal and financial recovery is the goal of next year (…), which will also benefit the Greeks" to justify "their sacrifices," said Mr. Sahinidis. According to budget estimates, the country targets a deficit of 7% in 2012 and a reduction of its debt to 145.5% of GDP after the restructuring. The Minister visited during the weekend in Washington, where he met with the Executive Director of the IMF, Christine Lagarde, on the sidelines of the meeting of the General Assembly of the organization and a ministers' meeting G20 finance.

"The discussion with Ms. Lagarde was held in a positive atmosphere. We have addressed the issue of recapitalization of banks in Greece after the successful restructuring of debt of the country and the progress made in implementing the sanitation program of the economy, "said Mr. Sahinidis, quoted by the Greek news agency, Ana (semi-official). "Today there is greater optimism about the country's exit from the crisis," added the Minister.

Small and medium businesses, entrepreneurs and self-family businesses, which account for most of the economic fabric of the country, paying a heavy price for the Greek crisis. The European Commission is trying to address the funding problems they suffer. In Greece, six out of ten SMEs have seen their incomes decline in 2011.

Up to a thousand individual companies will put the key under the door every week in Greece in the first half of 2012 due to the serious crisis that is sinking the country, said Friday the European Commission, which seeks to root the problem.  

"Greece is facing an economic crisis and social crisis which is reflected in the situation of small and medium enterprises: six out of ten companies have seen their incomes decline in 2011 and 150,000 jobs were lost," said the Commission in a press on the sidelines of the visit to Athens Friday the European Commissioner for Industry, Antonio Tajani. "It is estimated that during the first half of 2012, up to 1,000 small businesses have closed every week," said the statement, which does not provide estimates on the number of companies created in parallel.

The Commission therefore calls for increased aid to these companies, self-entrepreneurs and family businesses, which form the bulk of the Greek economic fabric. Since last September, the European Union through its Task Force for Greece including trying to find ways to overcome the credit crunch affecting SMEs, banks, deficit, cut off from markets and dependent on the ECB, having suspended loans. In March, a special guarantee fund, with 500 million euros, was created by the EU to promote through the European Investment Bank lending to SMEs up to a billion euros.

According to the Commission, in 2010, Greece had 742,600 very small businesses, employing a total of 2.512 million employees, over 85% of total employment in the country, a record level in the EU. These structures produce 35.3% of the value added of the country against 21.8% on average in the EU. With 14% of employees on average in Greece, against 33% in the rest of the EU, large companies they create 28% of the value added, highlighting the low productivity of small businesses in Greece, the Commission added.

An amount that includes the 240 billion aid from Europe and the IMF, 100 billion debt erased by private creditors, and 40 billion euros of EU funding. In other words, Greek 33,600 euros per capita. Here, anti-austerity protesters in Parliament in Athens on 7 February 2012.

The assistance provided to Greece to prevent it from falling into bankruptcy amounted to a total of 380 billion euros in the form of loans, are injected directly and debts erased, said Wednesday the European Commission in a statement.

This includes the 40 billion euros of EU funding in 2007-2013 for Greece. In addition, there are 100 billion euros of debt that the private sector has agreed to remove and 240 billion euros of state aid provided by the EU and the International Monetary Fund. This corresponds to 33,600 euros per capita Greek, and 177% of gross domestic product of Greece, says the European Commission, who made a point Wednesday on its proposals to boost growth in the country.

Brussels reiterated its plans to use European funds to help support the Greek SMEs and youth employment. The Commission has 4 billion euros to help businesses. She also wants to focus on better control of public finances and a recapitalization of banks to support lending to individuals and businesses, particularly SMEs.

The Commission has a mission of experts ("Task Force") which together with the Greek authorities to implement the reforms necessary to resolve the crisis. Around the task force, member countries of the Union offer their expertise to help Athens to complete his reforms.

China Petrochemical (Sinopec) is in talks with the Spanish oil group Repsol to buy its Argentine subsidiary YPF, so that its potential nationalization, reported Tuesday a Chinese site for financial information.

According Caixin.com, citing a source close to Sinopec, the Asian oil company has found a non-binding agreement to take control of YPF for more than 15 billion dollars (11.4 billion euros).

A Sinopec spokesman declined to comment on "market rumors".

For its part, the president of Repsol Antonio Brufau said at a press conference that the tanker had received many expressions of interest from international groups to take a stake in YPF but did not comment on the information on Sinopec. 

Also according to the site Caixin.com, Sinopec estimated oil reserves of YPF in Argentina have a potential for development. The group ensures to meet the requirements of the Argentine government to accelerate the development and production.

The Argentine President Cristina Fernandez announced Monday it would ask Congress for the expropriation of 51% of YPF's energy group, immediately attracting the warnings of important trading partners and in particular a strong reaction from Spain.

The OECD recommends that developed countries cut their debt to GDP ratio to 50% in the coming decades to cope with possible shocks, in a study published Thursday.

Most of these countries have much higher ratios, significantly aggravated by the recent crisis, the OECD average in excess of 100% and 200% Japan.

For comparison, the French public debt amounted to 1.717 billion euros at end 2011, nearly 86% of GDP.

"Cleaning up public finances to cope with the consequences of the crisis, the underlying weaknesses as well as future pressures on public spending is a major challenge for many countries", e described the Organization for Economic Cooperation and Development. 

"It appears there could be an important and lasting fiscal tightening in almost all countries to reduce debt to prudent levels," she says, adding: "Given the weak economy World, commissioning Å? work of a broad program of fiscal restraint could be particularly costly. "