The Web Tycoon’s blog

George Osborne, British ministry of Economy, has just announced in the British parliament a deal that the United Kingdom, Germany, and France will establish from January of 2011 a tax tat will penalize banks operating in these three European countries.

With this measure, the British government hopes to obtain 2000 millions of pounds from the entities placed in the United Kingdom and local branches from stranger groups that operate in the country. France and Germany will confirm early if they take a similar measure, according Osborne.

This tax will be similar as the one that the government of Barack Obama announced the past year.

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China announced this week that will adopt a more flexible policy about the exchange rate of the yuan, and will allow a moderate revaluation against the dollar.

The decision announced by surprise also shows that the appreciation allowed by Beijing will be gradual.

“Given the recent economic situation of national and international markets, the Popular Bank of China decided to advance the reform on exchange rates of the renmimbi and increase the flexivility of exchange rates”. Said the central bank in a communicate.

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Although record Warnings and the minimums in stock markets, the analysts from Goldman Sachs are optimistic, and think that reaching 1.250-1300 points in the S&P 500 (an increase by 20%) is a reachable objective in the mid-run. About the Euro, the analysts from Goldman Sachs think that is “where it should be”.

Last turbulences kept the S&P 500 near to lose the level of 1000 points. Just after the aperture was trying to reach the 1060 points, still very far from the forecasts of Goldman Sachs.

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