Zi neagră la bursele de valori din lumea întreagă

Acţiunile cotate pe principalele pieţe financiare ale lumii au continuat şi vineri să scadă.

Banca Centrală Europeană a intervenit din nou, lansând în circulaţie 80 de miliarde de dolari, la doar o zi după o injecţie-record de capital, de 120 de miliarde.
Măsura nu pare însă să fi readus imediat încrederea investitorilor la bursele din Londra, Paris şi Frankfurt, care privesc cu nelinişte către tulburările de pe piaţa ipotecară din Statele Unite.
Totul a început din cauza unei crize care a afectat un segment al pieţei imobiliare americane, numit al ipotecilor de rangul doi.
Este vorba de împrumuturi ipotecare luate de americani care nu au o istorie fiscală sănătoasă.
Băncile au dezvoltat un sistem complicat de împrumuturi care acoperea datoriile celor care, în teorie, nu ar fi primit în mod normal o ipotecă.
Corespondentul pe probleme economice al BBC, Mark Gregory, spune însă că s-a creat un adevărat efect de domino din cauza datoriilor neplătite.
“Problema e că mulţi dintre cei împrumutaţi nu îşi mai plătesc ratele, aşa că bonurile de valoare corelate cu ipotecile lor nu mai pot fi tranzacţionate”, spune Mark Gregory.
Deşi aparent problema pare una americană, ea are o dimensiune globală, deoarece numeroase instituţii financiare internaţionale sunt active pe piaţa imobiliară din Statele Unite şi se află în posesia unor astfel de bonduri, acum fără valoare.
În plus, în epoca globalizării, pieţele acţionează oarecum unitar, şi dacă se remarcă o problemă în Statele Unite ecourile se simt imediat la Londra sau Tokyo.
Efectul de domino a pornit de pe Wall Street, unde o companie puternic implicată în piaţa imobiliară a dat faliment.
A urmat o mare bancă europeană, BNP Paribas, care a suspendat două fonduri de investiţii active în Statele Unite.
Banca Centrală Europeană a intervenit aruncând zeci de miliarde de dolari în sistem.

Care ar fi explicaţia?

“A apărut îngrijorarea că băncile nu mai dau împrumuturi de teamă că nu ştiu cum îşi vor recupera banii. Pur şi simplu nu mai au aceeaşi încredere în clienţi ca în trecut. Însă odată ce aceste sume imense lansate în circulaţie de Banca Centrală devin disponibile, apare şi oportunitatea oferirii de credit ieftin”, mai spune corespondentul pe probleme economice al BBC, Mark Gregory.

Deocamdată însă măsura întârzie să producă efecte, deoarece nu e clar cât de mari sunt pierderile generate de criza ipotecară americană.
Instrumentele financiare sunt complicate, datoriile se transferă de la o bancă la alta şi va dura probabil câteva săptămâni până când toate instituţiile din lume vor anunţa dacă au suferit sau nu pierderi.Opinia generală este că, pe ansamblu, economia mondială merge bine şi că această criză va fi controlată, chiar dacă nu se ştie exact cât de repede se va petrece acest lucru.

Pakistan 'facing emergency rule'

Reports from Pakistan say the country's president, Pervez Musharraf, is considering imposing emergency rule.

Pakistani Information Minister Tariq Azeem said the issue was being discussed, given external and internal threats to the country.
However the head of Mr Musharraf's Pakistan Muslim League later said there was "no possibility" of such a move.
The reports came after Gen Musharraf abruptly called off plans to attend a tribal peace conference in Afghanistan.
Emergency rule would limit the role of the courts, restrict civil liberties and curb freedom of expression.
The BBC's Barbara Plett in Islamabad says opposition and media figures believe such a drastic step would be related more to domestic politics, particularly Gen Musharraf's desire to be re-elected for another term as both president and head of the army.
This would almost certainly trigger legal challenges, she says.

'Difficult circumstances'

Gen Musharraf faces a volatile political and security situation after a siege at a radical Islamabad mosque and protests by lawyers angry at the suspension of the country's chief justice, who was later reinstated.

The possibility of an emergency cannot be ruled out Tariq Azeem, Pakistan Information Ministe

"The possibility of the enforcement of emergency, like other possibilities, is under discussion," Mr Azeem said, although he stressed that the measure might not be necessary.

"I cannot say that it will be tonight, tomorrow or later. We hope that it does not happen.

"But we are going through difficult circumstances so the possibility of an emergency cannot be ruled out," the Associated Press news agency quoted him as saying.
He said US threats to launch an operation in the tribal areas and the recent targeting of Chinese nationals by Islamic militants had played a role in the issue being discussed.
"In addition, the situation on the borders and the suicide attacks are also a concern," Mr Azeem added.
But speaking to reporters, Pakistan Muslim League President Chaudhry Shujaat Hussain dampened speculation, saying: "There is no possibility of an emergency", Reuters news agency reported.
A meeting of senior government officials headed by President Musharraf is expected to be held on Thursday to decide the issue.

Koreas announce historic summit

Leaders from North and South Korea are to hold a summit, only the second ever between the two sides, officials have announced.

President Roh Moo-hyun will meet North Korea's Kim Jong-il in the North's capital, Pyongyang, from 28-30 August.
The summit comes seven years after the first one, when Mr Kim met then-South Korean President Kim Dae-jung.
That meeting ushered in improved ties and reconciliation between the two sides, who remain technically at war.
This summit comes amid a gradual improvement in North Korea's ties with the outside world.

'Weighty significance'

The meeting was finally agreed after senior South Korean intelligence personnel made two trips to the North, officials said.
South Korea's presidential office said that the summit would "contribute to substantially opening the era of peace and prosperity between the two Koreas".
North Korean state news agency KCNA, meanwhile, said it would be "of weighty significance in opening a new phase of peace on the Korean Peninsula".
Analysts say the meeting is another sign of Mr Kim's increasing willingness to co-operate with the international community.
Last month, North Korea finally shut down its main Yongbyon reactor as part of an international aid-for-disarmament deal aimed at ending its nuclear programme.
But the motivation for Mr Roh could well be the fact that it is likely to be his last chance to influence his nation's political future.
The increasingly unpopular South Korean president is approaching the end of his term, and both Mr Roh and Mr Kim are well aware that the opposition Grand National Party - which advocates a tougher line towards North Korea - looks likely to win December's presidential elections.

Worldwide welcome

The two Koreas will formalise an agenda for the summit at preparatory meetings in the border city of Kaesong, where they jointly run an industrial park.
They could "expand military confidence-building measures and prepare the stepping stones to establishing a peace regime on the Korean Peninsula", said Mr Roh's security advisor, Baek Jong-chun.
The international community hailed the news of the summit.
"We have long welcomed and supported North-South dialogue and hope that this meeting will help promote peace and security on the Korean Peninsula," US State Department spokesperson Joanne Moore said.
"China expects positive results can be achieved in the second South-North summit," Chinese Foreign Ministry spokesman Liu Jianchao said in statement.
The two Koreas have not signed a formal peace agreement since the end of the 1950-53 Korean War.
But after the landmark summit in 2000, ties between the two Koreas warmed. Joint economic projects began and reunion meetings for families divided by the partitioning of the Korean Peninsula in 1953 were initiated.
Kim Dae-jung won a Nobel Peace Prize for his efforts to engage with Pyongyang, but he was forced to apologise when it emerged that large amounts of cash were sent to North Korea ahead of the talks.

Georgia in Russian attack claim

Russia has committed an "act of aggression" against Georgia by firing a guided missile at its territory, officials in Tbilisi say.

They say the missile landed outside the village of Tsitelubani on Monday, some 60km (37 miles) north-west of the capital Tbilisi, but did not explode.
Russian officials have moved quickly to deny all of the accusations.
Relations between the two neighbouring countries have often been fraught since the Soviet Union's collapse in 1991.

'Powerful missile'

Georgian officials say that two Russian fighter jets launched the missile at 1930 (1530 GMT) on Monday.
Georgian Interior Ministry spokesman Shota Ustiashvili told the BBC the planes had flown some 70km (43 miles) over Georgia's territory, firing the rocket, which weighed about a ton.
Mr Ustiashvili said the missile had landed in "the backyard of one of the local residents".
He said radars showed that the aircraft flew out of "the Russian military base in the North Caucasus", adding that it was "one of the most modern and powerful missiles that the Russian air force has".

"It has become common practice for the Russian air force and for the government troops to sneak into the Georgian territory, but what's different in this incident from the previous ones is that they have threatened Georgian airspace much deeper, and that they have used a very powerful bomb," the spokesman said.
Earlier, Georgian Interior Minister Vano Merabishvili told the Reuters news agency: "I assess this fact as an act of aggression carried out by planes flown from the territory of another state."
Georgia's foreign ministry said it would summon the Russian ambassador in Tbilisi to hand over a note of protest over the incident.
Moscow denied the accusations.
"Russia's air force neither on Monday nor Tuesday flew flights over Georgia," said Col Alexander Drobyshevsky, an aide to the commander of Russia's air force.
"Russia has not violated the borders of sovereign Georgia," Col Drobyshevsky added.
Tsitelubani is nor far away from Georgia's breakaway region of South Ossetia, which receives political support from Moscow, the BBC's James Rodgers in Moscow says.

Strained relations

The two conflicting accounts of the incident reflect ongoing tensions between Georgia and Russia, our correspondent says.
Relations between Moscow and Tbilisi deteriorated sharply last year when Georgia expelled four Russian army officers it accused of spying.
The deportation triggered a furious diplomatic row, with Moscow imposing economic sanctions against its neighbour and deporting a number of Georgians.
Georgian officials have frequently claimed that Russian military aircraft have violated its airspace - accusations always denied by Russia.
Moscow is angry about Georgia's plans to join Nato, while Tbilisi accuses Russia of trying to destabilise Georgia.
The worst problems have usually been related to regional conflicts - the frozen conflicts in South Ossetia and Abkhazia.Many Georgians accuse Russia of imperialism, while Russia criticises Georgia for nationalism and pursuing an anti-Russian foreign policy.

Beckham misses match in Toronto

David Beckham failed to make his Major League Soccer debut for Los Angeles Galaxy in their 0-0 draw with Toronto.

The 32-year-old ex-England captain had resumed training but was restricted in his running following an ankle injury.Beckham has been limited to 13 minutes of action in a friendly against Chelsea since moving to the United States."I'd love to be out there on the field, especially with the number of fans here but I have to be careful with my injury," he said."It's not just about me playing exhibition games or being out there for one or two games."I'm here for five years and maybe more so that's where people maybe have to be slightly patient and not think I'm just here for the glitz and glamour."I'm here to play soccer, not for anything else."
A record crowd in Toronto of 20,522 watched the match as Beckham took a seat on the bench before kick-off, although he was dressed in a suit and tie.
MLS commissioner Don Garber travelled to Toronto, only to watch Beckham remain anchored to the bench.
"There's a lot of anticipation, we look forward to him getting on the field and satisfying a lot of fans waiting for him to put on the boots and play some soccer," said Garber.
"This is a long five-year deal and, while we're all frustrated, I know David is the most frustrated but people will forget about these handful of games that he misses when he hits the field."
However, on Saturday Beckham also threw into doubt his participation in the Galaxy's next game - against DC United on Thursday.
"It would be nice to play some part of the game in Washington but I'll just have to keep my fingers crossed," he said.
"A week to 10 days is what I'm looking at."

US international Landon Donovan said the condition of Beckham's ankle is improving.

"When he got here, it was like a balloon," he said. "You kind of looked at it and said 'you're going to play on that?'

"When he played in the Chelsea game, it was almost a miracle at that point. He shouldn't have been playing probably but he's getting a lot better."

Beckham said he would need to get several games under his belt before being available for England, who play Germany in a friendly at Wembley on 22 August ahead of crucial Euro 2008 qualifiers against Israel and Russia on 8 and 12 September.

"All that's on my mind at the moment is getting myself fit," stated Beckham.

"If I'm fit, obviously I have to play a few games before I even think about going home to England to play for the country.

"But my main priority at the moment is getting myself fit and getting myself playing for the Galaxy."

China cleans up one-child slogans

China has decided to tone down some of the slogans used to promote its one-child policy, in a bid to make them sound less threatening.

Some posters used in rural areas will be banned, such as one which read "One more baby means one more tomb."
A list of 190 acceptable slogans is being issued instead.
Chinese authorities believe the strong language of some slogans is harming the image of the one-child policy, in place since 1979 to limit population growth.
The official Xinhua news agency explained the decision of the National Population and Family Planning Commission as "an effort to win more understanding to the country's population control policy."

Largest population

It gave examples of "low quality" slogans posted on rural banners or the internet: "Raise fewer babies but more piggies", "Houses toppled, cows confiscated, if abortion demand rejected" and "One more baby means one more tomb."
Among the new slogans recommended are "The mother earth is too tired to sustain more children" and "Both boys and girls are parents' hearts."
China's 28-year-old family planning policy limits most urban couples to just one child and allows some families in the countryside to have a second child if their first is a girl.
Critics say it has led to forced abortions, sterilizations and a dangerously imbalanced sex ratio due to a traditional preference for male heirs, which has prompted some families to abort female foetuses in the hope of getting boys.
China has the largest population in the world - 1.3bn in 2005 - and says its policies have helped limit its growth rate.

Tevez cleared to sign for Man Utd

West Ham have revealed they have reached agreement for Carlos Tevez to leave Upton Park and complete his protracted move to Manchester United.

The settlement ends the threat of High Court action between West Ham and Tevez's representative Kia Joorabchian.
West Ham will receive a £2m fee for Tevez's registration and the move has been approved by the Premier League.
The 23-year-old Argentine striker is understood to have passed a medical and trained with United on Friday morning.
Tevez is now expected to make his debut for the club against Dunfermline or Glentoran as United play both sides with different teams on 8 August.
"We have a couple of games on Wednesday and Carlos will be involved in one of those," said Old Trafford boss Ferguson.
"He trained with us on Friday morning and he was very enthusiastic."
All sides were keen for the matter to be settled ahead of a proposed court date on 22 August and the closure of the transfer window at the end of the month.
Tevez's switch had stalled over who will be paid the transfer fee.
The Premier League and West Ham said the Hammers should receive the fee but companies MSI and Just Sports Inc, which belong to Joorabchian, said they owned the striker's economic rights.
Tevez arrived with fellow countryman Javier Mascherano at West Ham last August, and his outstanding form towards the end of last season kept Alan Curbishley's side in the Premiership.
But there was always a shadow hanging over the deal after West Ham were fined £5.5m over the transfers of Tevez and Mascherano.
The club was found guilty of acting improperly and withholding vital documentation over the duo's ownership, but crucially avoided a points deduction.
West Ham said in a statement: "The settlement ends the current litigation taking place between the respective parties and provides for a £2m fee to be paid to West Ham.
"The agreement confirms that West Ham do have a valid player's contract with Carlos Tevez and hold the registration of the player. This will be released once the agreed fee has been paid to the club.
"The terms of the settlement are consistent with undertakings given by West Ham United to the Premier League and the rules of The Football Association."
West Ham chairman Eggert Magnusson added: "I am obviously pleased that we have finally reached the end of this saga through agreement and common sense.
"All parties involved can now move on and truly focus on the new season."
The Premier League has also given their approval, clearing the way for Sir Alex Ferguson to complete the drawn-out Tevez deal.
A statement read: "The decision of the board, having received leading counsel's opinion, is that the agreement reached is compliant with the rules of the Premier League and consistent with the undertakings given by West Ham United to the Premier League board at various times since 27 April 2007.

"This will lead to the cancellation of Tevez's registration, thereby releasing him to join another club in due course."

And a statement issued on behalf of Joorabchian, MSI Group Limited and Just Sport Inc, said: "We are delighted that a settlement has been reached between all parties to secure Carlos Tevez's move from West Ham United to Manchester United.
"The agreement brings an end to the legal proceedings started by us against West Ham United in the High Court last week.
"Our primary concern has always been to resolve this issue amicably and to allow Carlos to pursue his ambition to play for Manchester United."Carlos is looking forward to being a Manchester United player and his ambition is close to being achieved."