2008-07-24

U.S. real estate market to a dismal housing construction slump

Housing construction on the 24th Wall Street stocks all fell. Cheng Pinfang government report showed that sales data gloomy. National Association of Realtors reported that the National Cheng Pinfang June sales fell 2.6 percent to 4.86 million units. The data should be less than the forecast of more than doubled year-over-year sales of 15.5 percentage points lower. The report also pointed out that currently does not sell Chengpin Fang has increased to 4.49 million sets, is the second high level of the past 24 years. Housing construction companies in the struggling real estate market. Today, all Biao down.

Lennar of Miami, the largest decrease in the company was down 18 percentage points, or 2.47 U.S. dollars to close at 11.07 U.S. dollars. Most other housing companies suffered double-digit decreases in the fall. Sangdakesi Centex Dallas company fell 2.56 to 13.06 U.S. dollars, or 16%; Beazer Atlanta company fell 69 cents to 4.97 U.S. dollars, or 12%; Bloomfield Hills fell 1.78 to 16.70 U.S. dollars, or 14% ; KB Home fell 3.04 to 16.70 U.S. dollars, or 15%; DR Horton Horton fell 1.73 to 10.80 U.S. dollars, or 14%; Hovnanian fell 68 cents to 7.13 U.S. dollars, or 8.7 U.S. dollars, Horsham or 1.80 U.S. dollars to 19.28 U.S. dollars, a decrease of 8.5%.

Intel rivals from the anti-monopoly encirclement remains elusive win

EU anti-trust investigation of Intel to upgrade, Intel, or 3.8 billion U.S. dollars will face a huge fine.

July 17, the EU announced that three of Intel's new anti-trust allegations, which have expanded the world's computer chip giant's anti-trust investigation.

The EU warned that if found guilty, Intel will be punished by the global annual total income of 10 per cent of the hefty fines. Intel's 2007 sales of 38 billion U.S. dollars. The EU said that up to 3.8 billion U.S. dollars in hefty fines Intel may have to change their past behavior.

July 18, Intel made initial response, denied that the various issues in the wrongful act. The company will in the next eight weeks to make a formal response.

As Intel on a global scale only has the power to the competitors, another chip producer AMD's situation still seems difficult to turn for the better. On the EU announced the expansion of the Intel antitrust investigation on the same day, AMD chief executive officer-performance bleak because of "school", by Dirk »Meyer (Dirk Meyer) as the new CEO. On Dirk» to Meyer Said that in order to contend with in Intel's gain, thereby reversing AMD's current predicament is not an easy task.

In response to new allegations

EU to Intel's three new allegations are as follows: First, Intel to a major PC retailer - Germany MediaMarkt AG companies to provide generous rebates so that only the sale of Intel-based personal computer CPU; Secondly, Intel a major bribe money PC original equipment manufacturers (OEM) delay of AMD's production plans, AMD's original plan was launched by the manufacturers to embed a CPU AMD processor product line; third, with an OEM Intel to provide huge kickbacks in exchange for conditions Intel won all of its orders for notebook CPU bills.

Intel is the world's largest chip maker. In the global microprocessor market, Intel's share of over 75%. AMD and its only real rival.

Intel that the company's business model does not have any irregularities in it. Said the new allegations show that the EU largely biased towards AMD, Intel tried to block fair competition in the market. "We provide incentives, in fact ultimately will benefit consumers, but AMD does not want to see us to do so."

The EU believes that the key issue is not the monopoly of market share, but product pricing. It is said that the EU has previously said that Intel should immediately stop sales of discount products.

The EU said that below-cost pricing or predatory pricing, in the short term can really benefit consumers, but will ultimately harm the interests of consumers. Because the price war strangle competitors, consumers lost more options.

The EU also said that the three new allegations that Intel abused its suspected in the dominant position in the market, AMD will be trying to market crowding out, in violation of the anti-monopoly law.

EU allegations that Intel was "unfounded." Intel microprocessors global self-confidence (central processing unit is a function of large-scale integrated circuit devices) market in normal operation, whether in Europe or elsewhere, the competition is very full, and help to promote competition and benefit consumers.

Entangled with the proceedings

AMD and Intel's market long-standing dispute.

2003, AMD introduced the microprocessor is superior to Intel chips, after its dual-core (that is, two CPU) and 64-bit technology (the computer can handle 64-per-long data) had a serious threat to Intel's dominant market position .

But AMD has followed a series of delay in delivery server chips, Intel to technological progress as a counterattack, to regain the lost market share.

In the next 10 years in, AMD has been around the world to the regulatory authorities and the courts in the Intel antitrust suit. In order to prove that Intel's monopolistic behavior, the European Union since 2001 launched a long-term anti-trust investigation.

2007, the EU has accused Intel to discounts, marketing subsidies and low-priced products, such as means to prevent major PC manufacturers in low-priced PC and server products using AMD processors. The industry believes that the European Union in 2007 involving allegations of Intel's main wholesale markets in the block AMD, Intel's new allegations involved in the retail channel exclude AMD. In fact, Intel has been on a global scale anti-monopoly into the "encirclement and suppression" of. In June this year, South Korea's antitrust division of Intel opened a 26 million U.S. dollars tickets, because Intel South Korean PC maker to offer discounts, Samsung Electronics and other PC manufacturers to give up the procurement AMD processor. Intel in South Korea to open a ticket on the second day, the U.S. Federal Trade Commission has the monopoly of the market for Intel launched a formal investigation. In Japan, Intel also encountered the relevant departments of the investigation.

In addition, AMD is still the United States District Court submitted a civil action against Intel, the pre-trial plan in 2010. If AMD wins, it could mean that Intel will suffer billions of dollars in damages.

Long shadow

Currently, the proceedings did not block the entangled with Intel's "way of getting money."

In the second quarter of this year, the latest earnings reports, Intel profit to a record high, the second-quarter sales increased to 9.47 billion U.S. dollars on revenue of 2.3 billion U.S. dollars and net income was 1.6 billion U.S. dollars. Intel believes that this project benefited from its flexible manufacturing and commercial operations.

However, AMD in the second quarter performance was a bleak.财报显示, AMD quarter revenue amounted to 1.349 billion U.S. dollars, the loss rose to 1.19 billion U.S. dollars, representing a 2007 loss for the second quarter increased 100 percent. This is its third consecutive 7-quarter loss.

This, AMD has complained said that he always suppressed by Intel. The new CEO Dirk »Meyer headache is that this is not the only AMD facing trouble.

AMD To improve the present situation, in itself is difficult. In the past two years, sustained losses lead to AMD marketing weak, the acquisition of Canada graphics chip maker ATI heavy debt, the key to market delays, are placed in the new CEO Dirk »Meyer before the thorny problem.

Certainty is that in Dirk »Meyer's career, from the shadow of Intel's monopoly there will be lasting.

"Intel has recently increased the U.S. government's lobbying efforts, its purpose is to reduce the U.S. regulatory pressure on the company's investigation." U.S. computer and communications Industry Association President and CEO Ed »Bullock said.

Link

2007 six counts Intel AMD complaint

Intel's introduction of direct cash payments, discriminatory pricing and subsidies, and other means of the market, forcing Dell, Sony, Toshiba, Gateway and Hitachi and other major customers to sign exclusive agreements, to prevent these manufacturers to buy AMD products using Intel's discounts, subsidies and the provision of market development funds , And other means, forced other major customers, including NEC, Acer and Fujitsu signing of the exclusive agreement, restrictions on these manufacturers to buy AMD products; Intel or treated differently by means of threats and inducements to prevent large number of customers to buy AMD processor, Intel on some of the major retail To implement the quota system, the storage requirements of large retailers or can only be stored in the computer using Intel processors, limiting users the freedom of choice; Intel forced PC manufacturers and technology partners to boycott AMD product launches and promotion; Intel illegally using its market Monopolistic advantage to the industry technical standards and related products pressure, to create obstacles to the development of AMD.

Source: Financial Times

U.S. government to save the market forced a new journey

Since last year, the Fed's seven consecutive interest rate reduction, the direct result of the depreciation of the dollar, in this one, the loan-to-crisis has not only failed to eradicate, but inflationary pressures one after another, the "rescue" Zhangxiushanwu in the United States Government, Must also embark on "new journey to save the market."

In view of the market, the economy and inflation prospects facing the uncertainty of the dilemma, the Fed on June 25 decision to keep interest rates unchanged at 2 percent. This is the Fed since last September lowered interest rates seven consecutive times after the first change in interest rate reduction policy. July 16, the U.S. Federal Reserve Board (Federal Reserve, referred to Fed) Chairman Ben Bernanke reiterated that the U.S. economy is still facing many difficulties, that deal with these risks is still the main task. It is expected that the U.S. government will continue to hold high the policy tool, the loan-to-face in the爆出the "monster" to Xiangfu.

Recalling the credits since, the U.S. government left people with a "vigorously killer," the distinct impression. "Killer"忙活after a while, the loan-to-crisis once Jianhao, but Haojingbuchang, and the loan-to-crisis somewhere in the "trouble" and "killer" is the first time arrived. Since last year the U.S. economy is in such a difficult Xianxianghuansheng in Duobu.

The crisis erupted after the loan-to-face predicament, the U.S. government busy不已. First, the Fed lowered interest rates substantially in order to restore market confidence and prevent the economy from sliding into recession. Last year in September to the end of last year, the Fed lowered interest rates three times in a row, the federal funds rate down to 5.25 percent from 4.25 percent. Since last December, the Bush administration signed the "mortgage debt relief Law," requiring banks to waive part of mortgage loans, mortgages and announced a relief plan.

In the Fed for relief, to the end of 2007, loan-to-crisis has a certain signs of easing, but Haojingbuchang. Early this year is the dark clouds over the Citigroup, Merrill Lynch and UBS, respectively Yukui 9.83 billion U.S. dollars, 9.8 billion U.S. dollars and 11.4 billion U.S. dollars, the bank's loan-to-Jukui to the crisis and into a quagmire.

The Bush administration and the Fed has increased the loan-to-crisis "Dasha", and fiscal and monetary means of the two major two-pronged approach, the Bush administration and Congress quickly passed a total of 168 billion U.S. dollars to stimulate economic programme. For some buyers were unable to housing loan and the confiscation of the situation, the Bush administration is working with major lending institutions, aimed at reducing the loan burden on home buyers. U.S. Federal Reserve is a rare meeting between the two 75 basis point rate cut, and nine days of the regular meeting再降50 basis points.

With the U.S. government's fiscal and monetary policies to gradually show results, the first half of the U.S. economy into recession worries slowly in retreat by. The first quarter, U.S. economic growth annual rate of 1%, the growth rate higher than the fourth quarter of last year's 0.6 percent.

In mid-March, the loan-to-the "third wave" outbreak, the fifth largest U.S. investment bank Bear Stearns to two U.S. dollars a share, the low-cost "Jianmai." To the Fed-led rescue operation is the main force more quickly. Bear Stearns incident occurred one week before and after the time, the Fed three "unconventional" to save the market, on the one hand to the banking system to inject capital, on the one hand to help those most critical of the financial institutions out of difficulties. March 14, the Fed once again announced a rare tripartite financing plan for the recognition of mobility "significant deterioration" of Bear Stearns to provide emergency financing to 30 billion U.S. dollars. Monetary authorities on individual financial institutions to rescue the situation, this century has not yet had a precedent. March 16, the Fed announced that in order to increase market liquidity, the discount rate from 3.5 percent down to 3.25 percent.

U.S. economy in the second quarter of this year had improved signs, which allow investors to the U.S. economy with optimistic estimates, but such optimism quickly and breathing to stop. Recently, the loan-to-crisis is the U.S. government "urgently Huang Huang," June Lehman Brothers shares avalanches, the total assets of more than 32 billion U.S. dollars of IndyMac Mortgage Bank was taken over the premises and the United States and Fannie Mae recently in crisis, the two The company's shares last week near the "waist cut," Merrill Lynch of four consecutive quarterly loss, a loss of 2 times the expected level, the crisis is frequent, urgent sound alarm.

Faced with coke head of the U.S. economy, the U.S. government the "killer" Some赤膊battle, the U.S. Treasury and the Federal Reserve launched the emergency of the two mortgage giants Fannie Mae and premises of the United States and the rescue plans. The U.S. Senate on July 11 approved a total 300 billion U.S. dollars of the rescue plan to help hundreds of thousands unable to pay for on the buyers, and by strengthening the mortgage company's real estate market suffered ease the regulatory impact. On the 13th, the United States has introduced a number of child care Fannie and premises of the U.S. measures, including the two institutions to provide direct loans and financial support, the United States permits the SEC for the two companies "naked short selling" to the limit, Measures will be in the July 21 entry into force, and continued for 30 days.

Perhaps this is based on or before the cumulative "rescue" effect, the new release of the "World Economic Outlook latest forecast," the latest version of the second half of the U.S. economy weakened the movement of pessimism. The report said, the United States in 2008 and 2009 economic growth rate was 1.3 percent and 0.8 percent, compared with the April expected to increase 0.8 percent respectively, and 0.2 percent.

As comic timely and effective measures, the surface of the U.S. economy into recession began cooling the heated discussions. Economists believe the loan-to-crisis is likely to only make the U.S. short-term economic contraction or recession, "deep recession" the possibility is not big.

In dealing with the loan-to-crisis, the so-called Cairns visible hand, the U.S. government was the dazzling play of the global integration of the change, the U.S. Government's "killer" role, we sent blessings. In the current economic development in some of the problems, we should also with an open mind to thinking.

11 Wal-Mart clothing sales have seven kinds of unqualified towels

Yesterday, a version of this report, "the business sector sampling" Wal-Mart "Shantou Southland stores, 11 of the total of seven kinds of clothing towels failure," the news caused public concern. Shantou City, the Consumer Council for reminding customers: Where are the sampling included in the purchase of substandard brand products consumers can vote with small, sales invoices to businesses for return or claim.

According to the city to verify the Trade and Industry Bureau, the "Wal-Mart", Shantou, south of the seven kinds of retail outlets failed clothing towels production units are: Shenzhen City Zuomeng Industrial Co., Ltd., Dongguan City, Naike Si Leighton Ltd., Shenzhenshiheng Chang Jewelry Co., Ltd, Qingdao Hyder Home Textiles Co., Ltd., Shenzhen City Clothing Co., Ltd and goods sent Wal-Mart (China) Investment Co., Ltd.. Failure of clothing and towels products, in addition to "Zuomeng" leisure T-shirt and the formaldehyde content of "love Dieter" M T-T-shirt pH value of non-compliant, primarily fiber ingredients, color fastness not Naixi Meet the standards. Trade, national standards, direct contact with the skin of the PH value of the textile demand in the 4.0 to 7.5. The skin was weak acid, to prevent the intrusion of bacteria, textiles in the PH value is too high or too low, the skin will destroy the balance and resistance.

Guangdong Guangdong Granville, director of law firm lawyers, Zheng Jing, China's Consumer Protection Law, the Product Quality Law and other laws and regulations on product sales to the responsibility of the stringent requirements, such as sales, should establish and goods inspection and check the implementation of the system, the post-mortem Product certification and other logos, and to take measures to maintain the quality of products for sale; vendors selling products and not doping, adulterated and not Yijiachongzhen, Yicichonghao, shall not be qualified to unqualified products posing as products; operators to provide The goods should also be consistent with protection of personal and property safety requirements. Violation of the regulations, should be in accordance with specific circumstances undertake corresponding civil, administrative or even criminal liability.

Then, in shopping malls to buy consumer products to fail, how to protect their legitimate rights and interests? »Zheng lawyers that the consumer has the right to require sales to be replaced or returned, if the result of product defects caused personal and property damage, consumer Or other victims also have the right to require the seller or producer damages. There are five ways consumers can protect their own interests, first, and sales were resolved through consultation, the consumer associations are requested mediation to the three complaints relating to the executive branch; four operators are in accordance with the arbitration agreement reached by the arbitration body brought to arbitration Fifth, the people's court to initiate proceedings. No matter what solution, consumers are required to retain documents related to the purchase of goods, certification of products and components such as the identification evidence. (Yang Wenxing)

Source: Journal of Shantou

11 Wal-Mart clothing sales have seven kinds of unqualified towels

Yesterday, a version of this report, "the business sector sampling" Wal-Mart "Shantou Southland stores, 11 of the total of seven kinds of clothing towels failure," the news caused public concern. Shantou City, the Consumer Council for reminding customers: Where are the sampling included in the purchase of substandard brand products consumers can vote with small, sales invoices to businesses for return or claim.

According to the city to verify the Trade and Industry Bureau, the "Wal-Mart", Shantou, south of the seven kinds of retail outlets failed clothing towels production units are: Shenzhen City Zuomeng Industrial Co., Ltd., Dongguan City, Naike Si Leighton Ltd., Shenzhenshiheng Chang Jewelry Co., Ltd, Qingdao Hyder Home Textiles Co., Ltd., Shenzhen City Clothing Co., Ltd and goods sent Wal-Mart (China) Investment Co., Ltd.. Failure of clothing and towels products, in addition to "Zuomeng" leisure T-shirt and the formaldehyde content of "love Dieter" M T-T-shirt pH value of non-compliant, primarily fiber ingredients, color fastness not Naixi Meet the standards. Trade, national standards, direct contact with the skin of the PH value of the textile demand in the 4.0 to 7.5. The skin was weak acid, to prevent the intrusion of bacteria, textiles in the PH value is too high or too low, the skin will destroy the balance and resistance.

Guangdong Guangdong Granville, director of law firm lawyers, Zheng Jing, China's Consumer Protection Law, the Product Quality Law and other laws and regulations on product sales to the responsibility of the stringent requirements, such as sales, should establish and goods inspection and check the implementation of the system, the post-mortem Product certification and other logos, and to take measures to maintain the quality of products for sale; vendors selling products and not doping, adulterated and not Yijiachongzhen, Yicichonghao, shall not be qualified to unqualified products posing as products; operators to provide The goods should also be consistent with protection of personal and property safety requirements. Violation of the regulations, should be in accordance with specific circumstances undertake corresponding civil, administrative or even criminal liability.

Then, in shopping malls to buy consumer products to fail, how to protect their legitimate rights and interests? »Zheng lawyers that the consumer has the right to require sales to be replaced or returned, if the result of product defects caused personal and property damage, consumer Or other victims also have the right to require the seller or producer damages. There are five ways consumers can protect their own interests, first, and sales were resolved through consultation, the consumer associations are requested mediation to the three complaints relating to the executive branch; four operators are in accordance with the arbitration agreement reached by the arbitration body brought to arbitration Fifth, the people's court to initiate proceedings. No matter what solution, consumers are required to retain documents related to the purchase of goods, certification of products and components such as the identification evidence. (Yang Wenxing)

Source: Journal of Shantou

Coca-Cola packaging capacity of the new price hikes diminished in disguise

◆ by every reporter Xi Lu from Shanghai

At present, the Hong Kong market, Coca-Cola's new packaging has caused consumer concern. Coca-Cola 355 ml with the Yi Laguan beverages, will be replaced by 330 ml of the new packaging, "shrinking" 25 ml and prices remain unchanged. The "Daily News" reporter in Shanghai yesterday from the Coca-Cola Company that, at present, Coca-Cola China's Yi Laguan all beverages, have already begun to "installed."

This calculation, the average consumer to buy drinks 14 cans on the "missing a can." Coca-Cola experts questioned disguised price increases, in order to avoid the attention of consumers, the rate of price increases of 7.5 percent.

Each bought 14 cans on a can of missing

Coca-Cola Hong Kong public relations departments KenthKaerhoeg accept the "Daily Economic News," an interview with this reporter said, "small package" in early July in Hong Kong has begun in the retail. The Coca-Cola's all Yi Laguan packaging products for two reasons, First, in line with European and other markets has been widely used in packaging style and the other is in response to the upward pressure on prices of raw materials, the main reason is that Yi Laguan packaging material used in aluminum Prices rose.

The local media for Coca-Cola has installed the calculations calculation: the average consumer to buy 14 per beverage cans on the "missing a can." Some Internet users also doubts that the new packaging is fake. But KenthKaerhoeg told reporters that the message was packaged-for-5, June inform consumers of the Hong Kong and outside Hong Kong do not know that the situation.

When a reporter asked the new packaging and price problems, KenthKaerhoeg said that Coca-Cola has not changed the price, quality of goods there will not be any changes. And stressed that "jar inside the beverage is the same."

Hong Kong yesterday in an interview with reporters of local consumers Mr. Zhang, said that the other side, also not aware of packaging changes. Local media reported that the experts have questioned Coca-Cola packaging Gaixiao through price hikes in disguise, in order to avoid the attention of consumers, the rate of price increases of 7.5 percent.

Installed only to protect the environment Towards the Olympics

Coca-Cola Company in Shanghai Miss Wang Jing public relations department, told reporters: "The whole area of China's Yi Laguan Coca-Cola drinks will be replaced by 330 ml of the new packaging. The purpose is to environmental protection, the eve of the Olympic Games in the rush to meet the 'Green Olympics' theme."

Wang Jing, told reporters that she had seen the new supermarket in the Coca-Cola drinks packaging, prices remain unchanged, the Coca-Cola Yi Laguan beverage sales were not affected. She told reporters that this does not change the packaging to inform consumers specifically, but she denied that the rising prices for packaging that is in disguise.

Then to the message sent to reporters, Wang Jing explained that the key to the new packaging in the Rim. Before the packaging of the tank from Central and Latin America, Central and Latin America opened a new package after the tank and connected to avoid environmental pollution.

E-mail said: "Although the packaging capacity has decreased, but the new Central cover higher production costs, together with other raw materials and production costs rise, higher than the new packaging capacity reduction." Message also said: "However, Coca-Cola Company Will actively cooperate with the market stability, to maintain the current prices unchanged. "

According to media reports, Coca-Cola's biggest rival, Pepsi's spokesman stressed that the media, Pepsi-Cola's capacity is 355 ml, not comment on Coca-Cola's practice of reducing packaging, Pepsi will increase or reduce the problem of packaging also be avoided.

Half-day on the 25th Hang Seng Index fell 447 points at 22,641 points

Hong Kong stocks on the 25th come down with the external market shocks, the Hang Seng Index opened lower this morning after more than 336 points in constantly expanding, the Chinese-funded heavyweights substantially lower drag, the index before noon time low of 22622.68 points after slightly stabilized, the Hang Seng Index午盘to close at 22641.04 points, down 446.68 points, or 1.93 percent, with 35.258 billion Hong Kong dollar.

Stocks in the U.S. existing home sales data declined sharply lower drag news, the Asia-Pacific market generally under pressure, HSI Dikaidizou July 25, the Nikkei Index and lower in-drag down stocks, index decreases constantly expanding, Dropped to 22,600 points intraday level was as low as 22622.68 points after slightly stabilized, noon to close at 22641.04 points, down 446.68 points, or 1.93 percent, with 35.258 billion Hong Kong dollar; China Enterprises Index fell 413.7 points, or 3.24 percent, at 12343.93 points - Chip index fell 128.71 points, or 2.65 percent, at 4731.25 points.

Analysts said Wall Street stocks on the 25th with concussion-taking, U.S. existing home sales data fell financial stocks able to drag, making for stability of the Dow Jones industrial average dropped, the general pressure on Asian markets, Hong Kong stocks fell on the 24th, on the 25th, taking with the surrounding market shocks, analysts believe that the current low HSI, should be seen as a short-term gains for a recent restoration, the commodity funds in the market gradually to the mobile market And the Olympic Games before the market sentiment to improve the occasion, the Hang Seng Index is expected to ready by the shocks, there are still higher short-term momentum.

Most Chinese experts suggested that tax threshold above 3,000 yuan

This reporter trainee reporter Wang Xue Han Xiaodong Zhou

NPC Financial and Economic Committee recently put the "further raise the personal income tax threshold, reducing the savings deposit interest tax rate" a majority of the recommendations of the experts affirmed and supported. This reporter interviewed the experts believe that, based on price and other factors, the relative flexibility in the tax threshold adjustment, the proposed tax threshold would be raised to 3000-5000 yuan; abolition of interest tax.

A reasonable tax threshold should be increased

CPPCC National Committee members, the Central University of Finance and Economics Professor HE Qiang that in recent years, the income of residents in China's continuous growth, the current tax threshold seems low, despite an adjustment, but the intensity is not fully adjusted, "on the basis of the current Again appropriately raise or reasonable, specific to the number, will have specific estimates. "

Chinese Taxation Society, vice president of the Chinese People's University professor of financial security of the rich, increase tax deductions (threshold) to 2,000 yuan, there is some controversy, the current situation, in the context of rising prices, Again appropriately raise some.

In addition, "the experience from abroad, a tax deduction on the consideration of many factors, such as population, education, insurance, housing and so on. At present, China's tax deduction in this area is still relatively small projects, from this perspective should also be re - Improve some. "Rich body of the view that, if adjusted, it should yuan in 3000-5000, the tax threshold adjustment of the resistance will not be too great, but needs approval by the National People's Congress.

Raise the tax threshold of tax reduction measures, therefore, have promulgated the view that this measure might affect the stability of financial revenue. In response, HE Qiang believes that this measure will definitely have some impact on fiscal revenue and expenditure, but the timing is quite good. The first half of fiscal income growth remains relatively fast, that a certain financial sustainability. Fu also of the view that the tax threshold increase the financial impact would not be significant.

Chinese Academy of Social Sciences researcher Yang Zhiyong Finance and Trade that the personal income tax in China is not the main taxes, income taxes accounted for only 7 percent of the plate, but the current domestic revenue growing faster, therefore, increase the tax threshold of fiscal revenue and expenditure Little impact.

Should abolish interest tax

HE Qiang proposed, should cancel the interest tax, "long-term savings deposits of residents still quite serious phenomenon of negative interest rates, abolition of interest tax will help improve the situation." He believes that in specific operations, not only to support the State Administration of Taxation, the relevant departments to To meet.

Fu also advocate of the abolition of interest tax. First of all, domestic long-term negative interest rates; Secondly, although the proportion of the rich deposits of the relatively large, but most of the low-income people, consider medical care, their children to school, also has deposits, interest tax levy impact may be greater in the poor; Third, the original charge of interest tax is taken into account the amount of domestic savings too much, trying to squeeze consumer savings, stock market to, but the current situation of little use. "Last year, interest tax rate from 20% to 5% adjustment, at the time was not completely abolished, is considered likely to remain a relatively flexible room for adjustment to the next step." Fu said that the body.

To control the cost of oil will be cut more than 80,000 people

After a reporter from Beijing to Yu Chun

Four staff reduction path: 1. Natural retirement reduction, 2. Control of new staff, 3. Contract expires fire, 4. Merge some posts

According to "China's oil" message, held in Yan'an in recent days in the China National Petroleum Corporation (hereinafter referred to in oil) in 2008 leading cadres meeting, said Jiang Jiemin, president of the corporation, against the current rapid growth in business volume and employment, wages Rapid increase the total cost of the actual, planned for the next three years cut 5 percent of the total staff. According to the official website of oil statistics, in 2007 the total number of employees in the oil for 1.673 million people, as the base, the total number of layoffs will be more than 80,000 people.

In the oil revealed that this year before the June pre-tax profits fell 39 percent, only 56.4 billion yuan. This is mainly the oil refining business losses and in particular the proceeds turned over to a substantial increase drag. Analysis of the market, the layoffs in the oil should be a major cost control initiatives. One of the oil inside an interview with this reporter, "said the staff cuts mainly on the basis of the principle of reducing unproductive expenditures, cut staff, mainly in organs and departments, particularly the number of non-productive sectors. As for the policy implementation date , How the implementation of specific, not yet clear, the Group headquarters has raised the overall goal, but the decomposition of various branches. CNPC subsidiary more than 100 two units, according to this requirement may be implemented. "

These people believe that the 5 percent staff reduction would not affect oil companies in-house staff to the stability. Because, including the reduction of several aspects, one is the retirement of the natural way to reduce the second is the new import control; Third, it is part of contract workers could be fired after the expiration of the fourth through the merger of a number of positions to reduce personnel.

In addition to reducing staff salaries and standardized distribution system to better control personnel costs, the oil will be compressed in the day-to-day non-productive expenditure. Have asked the companies not allowed to purchase new, lease or purchase of luxury cars in disguise, no new Loutangguansuo to reduce various kinds of large-scale celebrations and ceremonies, conferences, competitions and group tours abroad, effective Yajian Hospitality , Travel and maintenance in office, the provisions of these costs on the basis of last year to reduce the more than 10 percent. One analyst who declined to be named, the operating profit decline in oil has affected the normal cash flow, and the compression of the cash expenditure must be the cost, can ease tensions in the oil cash flow pressure.

PetroChina expects 2008 capital expenditure to 207.9 billion yuan, of which exploration and development capital expenditure of 132.3 billion yuan. Will be more funds for investment in oil and gas business, in the existing oil has 49 investment projects in the planning and make stops, Huanjian or transferred, by dealing with investment, investment funds reduced 20.72 billion yuan. At the same time, in oil also plans to issue 60 billion yuan of corporate bonds in order to meet production needs, reduce financing costs, additional liquidity.



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U.S. Federal Reserve that U.S. economic growth slowed down inflationary pressures intensify

U.S. Federal Reserve Board on the 23rd on the national economic situation report said that in the past few weeks, U.S. economic growth slowed down, while inflation pressures are increasing.

The report is based on their 12 regional Fed Reserve Bank of the latest survey compiled from the results, including the information contained in the July 14 prior to the collection. Reported that, in addition to the two regions to maintain economic growth, the other 10 districts reported economic slowdown.

In addition, all 12 regions reported price increases pressure on the increase, steel, chemicals and food prices both rose. To shift the pressure of rising costs, many parts of the manufacturers are planning price increases, but some manufacturers also worry that price increases could affect sales.

The report holds that although the U.S. government's economic stimulus plan was to promote the sales of certain products, but overall consumer spending still weak and slow-down situation. In addition, the housing market continues to deteriorate, housing sales and prices continue to drop both. The suspension will affect the credit crunch, bank lending standards more stringent.

Fed released eight times a year called the "Beige Book" survey of the economic situation. In August 5 will be held next Fed monetary policy decision-making regular meeting, the report will be an important reference materials. Some economists believe that, given the weak U.S. economic growth, but also intensify inflationary pressures, the short term the Fed is likely to continue to keep rates unchanged.

Bill Gates to spend 100 million yuan rent the air courtyard to see the Olympic Games (Reuters)


Core Note: the upcoming Olympic Games, the world's richest man Bill Gates in Beijing rent a set from the "Water Cube" less than 180 meters of air courtyard, the window is the "Water Cube" and "nest." According to reports, Bill Gates set rent the air courtyard to spend 100 million or more a year.

Chengdu Commercial Daily on July 23 reported in August in Beijing, not only the world's top athletes gathered, the world's wealthy tycoons have to Zhu Xing, including the former world's richest man Bill Gates. Gates in Beijing for their own rent a set from the "Water Cube" less than 180 meters of air courtyard, near the window is crystal blue "Water Cube" and powerful "nest", 580 hectares on the Olympic Park In the eyes. According to rent their flats, "Pangu Taikan" Sales, Bill Gates set rent the air courtyard to spend 100 million or more a year.


The dragon "seize" Gates

Core area in the Olympic Games, the event of a dragon, "Pangu Taikan." Pangea Taikan floor, a total of five components, is the highest leader of the commercial building, is among three apartment buildings, Lung Mei is Beijing's only seven-star hotel. Lead at the top or even a private apron. Five from the floor, a 411 m long, 13 meters wide, 15 meters high, "Long Gallery" link. "Long Gallery" above "Longji" section, are the offices, apartments, 12 sets of air courtyard of the hotel. This event stands in Beijing axis line, not only become a landmark in the region, and attract Bill Gates's vision, he suddenly decided to spend their own here in the Beijing Olympic tour.

Rent a year to 100 million yuan

It is understood that Pangu Taikan air courtyard each area of approximately over 700 square meters, costs about 90,000 yuan per square meter. However, the courtyard where the rent is not only selling, Bill Gates can only be rented. "We do not rent short term at least a year, while rental is 100 million yuan." Pangu Taikan Sales of Miss easy to explain. It is learnt that there are many Haofu under the orders, "Bill Gates has already paid the rent, but other people, I inconvenient condition of anonymity, now has customers in the."

Britain's top ranking Fupo (AP)

Who is the whole of Britain's most wealthy women »Not long ago, the British" Sunday Times "published as Britain announced a rich list this answer, and promotion of women before 10 specially compiled into a book, now let us look at To see these flashes of the brilliance of diamonds is how women become wealthy.

Kristy Bertarelli: well done better than marry

Wealth Key words: former Miss Universe, the word author, married to King Pharmaceuticals, loving support of her husband's yacht industry.

Top position: NO.1

The amount of property: 5.65 billion pounds


Regal ranking woman in the United Kingdom, The 37-year-old Kristy Bertarelli Rongdeng the top. Kristy Bertarelli was born in Staffordshire in a middle class family, when she was a high school student, because of the size and Gaotiao superior temperament and scouts were discovered, which entered the model community. 1988, 17-year-old Kristy in the Miss World competition was the second runner-up good results. However, Kristy subsequent Xingtu is not smooth, now this glorious history has long been forgotten.

However, she pretty lucky, although not looking good cause, but gain a good husband. In a London-PARTY CIRCUIT on, Kristy met the biotechnology and pharmaceutical king Ernesto Bertarelli, 2000年two men entered the church wedding in the Marche.

Bertarelli of Switzerland's Italian nationality, was born in Rome, and Kristy met, he is the cause of the wind Shunshui, his pharmaceutical company Serono (snow Lannuo) operation was very successful, and in 2006 to 6.7 billion pounds of Price eventually sold to German pharmaceutical giant Merck (Merck) companies. Bertarelli is an ideal husband, despite high prices, no bad habits what, in addition to his wife and three children, his love of sailing is, he is the Swiss Alinghi Alinghi comprehensive rowing team, which Only sailing team in 2003-2007 for five consecutive years was America's Cup champion.

Behind every successful man, there is a quiet dedication woman. Although the vulgar phrase, but sometimes also be a truth, Subduction in behind her husband, her husband become the most effective Neizhu, Kristy, is undoubtedly a wise choice.

Married that year, she has for her husband wrote a song - "BLACK COFFEE", the song was ALL SAINTS (Santa Chorus) in 2000 included in the album, and have achieved good results the top of the charts , Wrote the lyrics of the athletes miss the boat: "The more distant voyage, I miss you more deeply, until you see the coast, where I look forward to your return."

March 2007, the Swiss sailing team in Valencia for their new yacht, SUI100 held baptism ceremony. Kirsty came specially presided over the baptism. New vessels baptism ceremony began, Kirsty loudly said: "God bless SUI100, sailing, bless all the sailing team and participating sailors, To everyone, good luck!" In the bow and then smashed a bottle of fine champagne. She was also in the America's Cup race, wear special clothes to the site for refueling to the Swiss team said that for her husband's support.
Lady Green: marital partner Chuang Jianghu

Wealth Key words: retailers, her husband's business partner

Top position: NO.2

The amount of property: 4.33 billion pounds


Kristy with the help of her husband boarded the strength of different top, Tina Green and her husband Philip Green is not only a husband and wife, or the cause of the cooperation partner. Their name in the BHS (British Home Store) was founded in 1928, is around the bustling commercial street of the British chain store, which sells clothing and daily necessities.

The 56-year-old Philip Green has become a legend of contemporary Britain, is also a continuation of the commercial myth of the Jews. Philip Sheng Yijing at an early age in their parents grew up under the influence in the world, "the most respected partners," the number of enterprises category, ranked first, Google co-founder Serge covered »Boolean and Larry» Pec ranked二.

Tina and Philip in 1990 became even justified, then Philip38-year-old, Tina and her husband older than 3 years old, had a marriage, and her ex-husband in the fashion district has a clothing store.

After marriage, in the initial cause, the two did not overlap, Tina independent of the husband from running their own small business. Until 10 years ago they moved to Monte Carlo, Tina began to appear in public, to participate in the work of Philip, but she never made any statements to the media. In her husband's side, Tina will be his talents give full play, she Philip apparel business played a key role behind the scenes as Tina and guidance of staff, Philip garment industry started to recover.

2004, Green and his wife spent 200 million pounds will be BHS Resumption's, with a 20-month period, the British High Street from the Lao Gudong enhance the image of the star brand for the retail industry.

As an investment expert, both husband and wife have been doing everything possible to find in the United Kingdom tax avoidance methods. 2004, Tina came to settle in Morocco, then Philip will Accadia's two brand name to his wife, so that in accordance with British law, they save all of a sudden a 150 million pounds in tax. Today, Green and his wife 92% of the business under the name of Tina Green. I am afraid Xisuan, compared with husband and wife Kristy Bertarelli property boarded first, Tina is the real NO.1 Fupo.

TIPS: Tina and experienced the same is ranked fifth, the net worth of 2.4 billion pounds Slavica Ecclestone. Slavica is vice chairman of the FIA, F1 supremo Bernie Ecclestone's wife, when Bernie decided to create a company SLEC (full name is Slavica Ecclestone Corp.), This will be his primary F1 giant arch on the company's largest shareholder position. The company now controls the F1 commercial rights and will continue until at least 2110.

Like many F1 drivers, Bernie chosen a model as his wife. However, F1 drivers and other difference is that the height of less than 1.70 m tall Bernie and Slavica over 1.80 meters of the stand when not Banpei. 1984 or models slavica participating in F1 performance know Bernie, then she did not know who he was, and even left him with a false telephone number. This is an outsider to see through the marriage, like Bernie independent of the decision when the 53-year-old married, the object was only 27-year-old former Croatia is not known for its small model Slavica, no one can still do well , Slavica What are the magic that captured the money made Bernie such a genius, and will maintain such a successful marriage. Now they have together gone through more than 20 years and have two beautiful daughters.

Charlene de Carvalho: Golden Key was born含着

Wealth Key words: family business, inheritance

Top position: NO.3

The amount of property: 3.63 billion pounds

Charlene list Tanhua boarded the location is on the ancestors Ji-de - a legacy of her money on anything squeeze in the top three positions.

Charlene, 48-year-old, Dutch beer company Heineken's holding the only heir to the family, Heineken beer is the third generation of the head. A year ago, Charlene's father, Alfred H. Heineken died, she left a legacy of billions of dollars. Charlene de Carvalho's personality a bit like her mother, Renyuan very good, said slow-spoken voice, elegant extraordinary temperament.

At the university, Charlene specializing in the law, 14 years ago has become the company's management board members. From where his father, Charlene has learned full of the Sheng Yijing, as Heineken's holding company, her new product packaging, company mergers and acquisitions and other business matters has the final say.

And the father of Heineken's operating companies to do it all different, Charlene the Heineken considerable interest in the affairs of the company, but not back to the Netherlands to participate in the daily management of the company, but the company's day-to-day affairs completely handed over to the chief executive officer Antonio »Lu Eastbourne. But this in no way affect the authority of her company, Antonio »Ruiz to make any major decisions at the time, had to be the major shareholder of the scruples.

Now, Charlene is the mother of five children, and her husband Michel living in London. Michel has participated in the Olympic Games is the skiing athletes, Renxi of the company monitoring committee members, and London, Citigroup Investment Corporation is responsible for financial operations vice chairman of the board of directors, often on behalf of Heineken family's external speakers.

But for the couple's property boundaries, Charlene the slightest ambiguity, although some people have speculated that if the price is reasonable, she may be willing to sell her in the Heineken company's assets, but her husband Michel ruled out the sale of any assets of the company the possibility of Shiqu and Michel also said: "Our mission is to a sound company to the next generation."

TIPS: through the same inheritance Fajia were Kirsten Rausing, Baroness Howard de Walden-property and Lady Grantchester, they were to 3.5 billion pounds, 1.6 billion pounds and 1.2 billion pounds out the list at the fourth, sixth and seventh place. Kirsten Rausing is the world's largest packaging company Tetra Pak's Rausing family's eldest daughter, in January 2000 from his father inherited a large estate; Baroness is a British hereditary aristocracy, is the true owner; Grantchester in the family's inheritance Betting business at the same time, married to a banker's son, the Liberal party.

Ruth Parasol legendary history of the struggle of women model

Wealth Key words: start from scratch, pornography gambling industry.

Top position: NO.9

The amount of property: 763 million pounds

Americans as the descendants of the Jews, Ruth Parasol inherited the glorious tradition of struggle smart. She not only has the Law Society and the quality of, or an Internet sex Princess Margaret, had managed an adult entertainment company. Sex industry operators, is her father's family industry and experience earned Diyitongjin, she sold the stock of pornographic sites, continue to enter the online gambling industry Nuggets.

In order to circumvent U.S. laws to restrict online gambling, she registered in Gibraltar this offshore company Party Gaming. To this end, she specifically found computer roulette game of the Pioneer - India's software division Dixi Te written specifically for her gambling Games

Now Ruth Parasol is the world's largest online poker gambling company Party Gaming's main owner. Founded in 1997, but it really fires up in 2001 after the launch site Partypoker.com. The online poker industry worldwide turnover of 2 billion U.S. dollars, the company accounted for 55 percent of them, is special to make big profits. Then in the London Stock Exchange initial public offering, raising funds of up to 9 billion U.S. dollars, which is five years, the London Stock Exchange the largest single IPO.

The women maintained a rich and mysterious life style, and never accept any visit, the only open the photo is more than 20 years ago, going from high school graduates. And her husband, James Russell DeLeon was once a lawyer, and operates a software company.

TIPS: Ruth Parasol and start from scratch were the same ann gloag, to 720 million pounds she ranked 10th, and her ex-husband and brothers together to create a company Stagecoach, the company is now Britain's two largest public transport company . However, Ann Gloag is probably the most unfortunate women in the rich one, and her ex-husband and brother in 1980, shortly after the creation of Stagecoach company, and her former husband divorced her former husband in 1982 founded the other transport companies Highwayman Coaches, the two companies Has been fierce business competition. Her ex-husband on December 8, 2007 died in a car accident, and their son as early as 1999 in her home near suicide, when the 28-year-old. Now, traverse life's ups and downs she became a philanthropist. 2006 had donated huge sum of money to take the lead, spent a 4 million pounds (more than 54 million Hong Kong dollars), the Danish vessel will be converted into a medical ship, single-handedly led to the establishment of marine hospitals, estimated annual operation for 7000, so that the blind-see Bright, disabled people can walk as usual. Her health, safety and environment committee member, received the annual award and the European business women female achievement award.

Source: "Shu-yuan," the magazine