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The Indian division of Renault will launch five models from mid-2011 and mid-2013 to meet growing demand in this rapidly growing market, said Thursday the French carmaker's CEO for India, Marc Nassif .

The small vehicles, built on the platform of its Japanese partner Nissan, launched in 2012, he said on the sidelines of a conference on the automobile.

He said that the cars in question are sold under the Renault brand at a competitive price.

The Renault-Nissan is also working with the specialist Indian two-wheeler Bajaj Auto to build a low-cost car to be launched by end 2012.

Marc Nassif has also said he set the objective of selling 75.000 vehicles in India in 2013.

Bank of China, one of China's four largest banks, announced its intention to undertake a capital increase, the amount could reach 60 billion yuan (7.0 billion euros).

The bank offers to shareholders to obtain up to 1.1 Right to subscribe for 10 shares held.

"All the products of this rights issue (…) should enhance the bank's balance sheet and improve the ratio of financial solvency of the bank," she says in a statement.

This announcement does not specify whether the parent Public Bank, Central Huijin, subscribe to this offer.

In Hong Kong, under the BoC was trading at 3.97 Hong Kong dollars Wednesday, and he treated at 3.4 yuan in Shanghai on Friday before the suspension of trading.

MASSIVE CAPITAL RAISING

The bank, which raised 4.7 billion euros last month by issuing convertible bonds in Shanghai, is looking like its main rival China to strengthen its balance sheet and to comply with the stringent requirements of regulators in terms of ratios solvency.

Agricultural Bank of China (AGBANK), China's third largest bank, has launched its next capital increase of almost 16 billion euros via an IPO in Shanghai and Hong Kong.

According to local press, Chinese authorities have given their approval to raise capital totaling 287 billion yuan (33.6 billion euros) for the four largest banks.

In recent months, Industrial and Commercial Bank of China and China Construction Bank have also announced increases in capital.

Bank of Communications, the fifth-largest bank, raised its next 2.0 billion euros in Shanghai.

Retail sales fell in Spain in May, their second consecutive month of decline, a trend that could jeopardize the growth of the economy in the second quarter.

This decrease of 1.9% compared to May 2009 when adjusted for seasonal variations made after the fall of 2.4% in April, said the National Institute of Statistics (INE).

This further decline is partly due to segments of the consumer electronics and power.

Retail sales in Spain had increased in March for the first time since November 2007.

The renewed weakness in consumption could undermine the government forecasts a growth in gross domestic product (GDP) in each quarter this year after recovering from recession in the first three months.

"The retail sales figure is wrong and shows that people are worried about the future. The demand is low because people increase their savings," said Mariano Alierta M & G Valores.

"There are many uncertainties and we can expect continued weakness in retail sales until the job prospects are improving."

The recovery should continue at low speed in France by the end of the year, with a growth rebound in the second quarter but remain moderate then provides INSEE.

In his memo on the economy released Wednesday, the Statistical Institute expects a 0.5% of GDP in the second quarter and growing 0.4% in the next two quarters.

For the full year, growth would be 1.4%, in line with the government's forecast and just enough to stabilize unemployment.

The acquired at year end would be +0.6% and should in this case a 0.8% growth in each quarter of 2011 for achieving the government target of 2.5% was calculated INSEE which the forecast is however limited to 2010.

After rising 0.5% in the fourth quarter of 2009, GDP stagnated in the first three months of 2010 (+0.1%), fearing a relapse of the economy even if this figure is likely to be revised upwards on Friday when the national accounts are published in detail.

Entitled "In mid-stream, Note Insee business survey suggests a continuation of the recovery but at a moderate pace and with high uncertainty.

Turbulent waters

"An upturn in global activity was engaged for several quarters but there is still some way to go in this crisis and in waters which may be turbulent," said Sandrine Duchêne, head of the Business cycle, at a press conference.

Two forces are at work in France as in other advanced economies, "she said.On the one hand, the global recovery, but more beneficial to the country heavily exposed to foreign trade such as Germany or Japan, the other the need for fiscal consolidation that has already resulted in the listing Plan rigor.

"The year 2010 is a transition year between recovery and fiscal consolidation," said Sandrine Duchêne.

"In the very short term, the second quarter looks good but there is currently a cap on surveys which is expected a slowdown in activity by the end of the year."

According to INSEE, the attenuation of growth in the second half will not call into question both the positive contributions of the first quarter, namely the beginnings of a revival in business investment and re-creations of net jobs in the commercial sector.

"This trend will continue throughout the year but the pace of recovery will be slow and does not transmit only gradually income households," said Sandrine Duchêne.

In this context and with unemployment still high but stable, Insee sees household consumption stagnated in the second quarter as the first, before rising moderately (0.3%) in the next two quarters.

Demand for business will be limited but the depreciation of the euro will bring them a breath of fresh air by making their exports more competitive.

POSITIVE EFFECT OF THE EURO

In total, according to projections by INSEE, the recent decline of the euro should have a positive impact of 1.6 points on exports this year and 0.5 percentage points on growth that otherwise would therefore was only 0.9%.

Business investment in turn will benefit from improved market opportunities but will remain constrained by production capacity remains under-used, with a rate currently of 76% – ten points below the long-term average.

After eight consecutive quarters of decline, Insee sees the investment by non-financial leave of 0.6% in the second quarter, but he would decline a further 2.0% in total over 2010, following a drop of 7.9% in 2009.

Regarding employment, creation of the 24,000 net new market sectors in the first quarter – after seven quarters of destruction – would be followed by 8,000 others in the second, 4,000 and 15,000 in the third to the fourth, a total gain of 51,000 jobs this year 337,000 after destruction in 2009.

After six quarters of strong growth, the unemployment rate would remain stable for its 9.5% in France (9.9% in the counties overseas), to its highest level since late 1999.

Insee said its forecasts are surrounded by uncertainties. A resurgence of financial stress and / or the impact of measures to reduce the deficit might weigh on growth, since, unlike the depreciation of the euro, if continued, would allow countries Eurozone to benefit more from the dynamism of world trade.

"It is imperative to increase the soundness of the banking system, all G20 countries are convinced", said this morning Christian Noyer, governor of the Bank France, during an interview with The Tribune.

On the slopes of the reforms currently being tested, he explained that "the general philosophy of the reform is to require banks to allocate a larger share of their findings to their own funds, without affecting the distribution of credit, adding that "priority is to complete our work at the end of the year."

However, the governor of the Bank of France was cautious about the actual creation of a tax credit, a project supported by the Franco-German: "This proposed tax is the responsibility of States," he said business daily.For now, the new rules adopted in the context of Basel III are not yet determined, although a number of proposals have been put on the table. "All the rules laid down will not necessarily accepted," said Christian Noyer The Tribune, adding that 'the dosage and timing are not yet established'. One thing is sure: the economic impact on banks will be taken into account.

Credit rating agencies under scrutiny

Furthermore, Christian Noyer considered "incomprehensible" the recent decision of Moody's notes the degrade of Greece speculative grade. "The rating agencies should be alert indicators in judging upstream on the strengths and weaknesses of borrowers.Cause abrupt movements of the market once the problems identified and solutions have been made, is cons-productive, "he has told La Tribune. Before concluding:" Moreover, in the case of Greece we rely more on analysis of the IMF – more aware of the situation – as those of rating agencies.

See also: The financial regulation for Dummies

The British oil giant BP has already spent 1,250 billion dollars trying to contain the oil spill in the Gulf of Mexico, "he said Monday, indicating also be collected Saturday a total of 10,500 barrels after the installation of a funnel flight.

Between 3 and 5 June, BP and 16,600 barrels of oil collected with this new device.

Read also: This bumbling boss of BP
See also: Why BP has it all wrong

The amount advanced by the group does not include $ 360 million promised for the construction of artificial islands to Louisiana, he said.

"The optimization (device) continues and we hope to improve the collection in the coming days, but it will be some days yet before we can evaluate the success of this attempt at containment," BP said in a statement.

BP also said it was too early to quantify the total costs of the oil spill caused by the explosion late April of the platform Deepwater Horizon, in which 11 employees were killed.

More than six in ten French (63%) feel negatively action of Nicolas Sarkozy since 2007 on social policy, against 34% positive, according to a CSA poll published Cap Friday, June 4 by the Journalists Association of social information (AJIS) and DomPlus. When they think about the action of the President of the Republic since 2007 in social policy, 29% of the French as "very negative" and 34% "fairly negative", while 3% are "very positive" and 31 % "fairly positive". They have been 3% did not comment.

Read about our investigation: Why Sarkozy's policy is so unpopular

When asked specifically about various fields is in terms of purchasing power that the French seem most critical: More than three quarters (76%) perceive the action of the Head of State as "rather negative", only 18% consider it "somewhat positive".For a majority of French, is also rather negative opinion on the fight against unemployment (68% against 27%), the fight against poverty (69% against 26%), the incentive to work harder (60% cons 36%), dialogue between management and unions (57% against 30%, 13% did not). Concerning the effectiveness of the minimum service in transport during strikes, the action is seen as "rather negative" to 48%, against 40% (12% did not).

About the pension reform, only unions inspire "somewhat confident" a majority of French people (54% against 42% who have "not much confidence"), according to the poll. In contrast, over two thirds (67%) were "not much confidence" in the patronage of the reform, against 26% experiencing more confidence.At 64%, the French have not much confidence in Nicolas Sarkozy to reform, against 32% who tend to trust.

The leftist opposition also inspires rather not trust a majority of French, but to a lesser extent (55% against 38%). Of the decisions taken by the President to deal with the crisis, 49% of French people consider them bad, against 47%. Nearly one in two French (49%) said the French company less united than three years ago, while 37% say "neither more nor less" and 11% supportive.

The survey of the CSA institute and Cap for Ajisai DomPlus and was conducted by telephone 19 and May 20 from a nationally representative sample of 1,000 persons aged 18 years or older, constituted under the quota method.