The costs of the crisis, in fact, are unevenly distributed. On the one hand, those who keep their job. Possibly concerned about the situation, their objective situation has changed little since the crisis began, three years ago. On the other, 21.5% of those unemployed, whose number is increasing. Poorly defended, forgotten unions, their suffering is silent.The bank is threatening to enter the apartment of the family, a three bedroom 45 m2 Carabanchel, a neighborhood south of Madrid online payday loans. "A desahucio" expulsion of more. In 2010, 100,000 Spanish families were evicted four times in 2007!

Caritas, the equivalent of Catholic Relief Services, published three years the results of the Observatory of social reality. The figures are more alarming each year than the previous year. Juan Jose Lopez, the research department of the NGO, said the number of persons received by Caritas has more than doubled since 2007: 950,000 people have knocked on the door of the association in 2010 against 400,000 three years ago. "The situation worsens and becomes chronic."

If the threat is executed, Alejandro is considering several options. "Yes I Can camp, but my mother is 60 years old.

SeaFrance employs 880 permanent employees and 200 CDD, according seasons. The plan proposed by the LDA-tandem DFDS provided for the protection of 460 FTE jobs, maintaining SeaFrance under the French flag, the recovery of three ships 5 million and an investment of 50 million for repairs to boats.

After writing last week in the management, staff representatives will be received Monday morning in Noisy-Le-Grand, at the headquarters of Findus France as part of a central works council (CEC) extraordinary. A representative from the shareholder will also be present. The sale of Findus would have to be formalized.

At Boulogne-sur-Mer, where the factory is located in the French group, employees are in shock. In late July, announced with great fanfare Findus have "saved" in extremis its plant relocation.Lion Capital had then committed $ 11 million in three years and create fifty jobs. This allowed to increase by 25% the production capacity of the plant, which manufactures the famous Croustibat breaded fish sticks.

Sales growth of 8% in 2011

At a time when the group is about to change hands, its French subsidiary has never paid as well. In early September, its chief executive, Matthew flaps, which took over in 2005 and recovered the activity, anticipated sales growth of 8% in 2011. Findus France, which is given five years to grow 50% this year should exceed the threshold of 200 million euros. The group, which launched eleven new products in September, also plans to invest the radius mellitus.

He also removed the last year of palm oil revenues apples hazelnuts and other breaded fish.The dynamism of the business, coupled with the withdrawal of Nestlé (Maggi) radius frozen, Findus allowed to steal first place in the Hexagon. The radius of the frozen ready meals, it is nonetheless the third, behind Maggi and Mary (LDC).

In France, Spain, Britain and Scandinavia, Findus is not his first change of ownership. In 2000, Nestlé had sold the specialist frozen Swedish EQT fund while retaining a portion of the business, now sold under the brand Maggi Frozen. Six years later, Findus was found in the bosom of another fund, Capvest. Lion Capital is offered it in 2008 by paying 1.2 billion euros. This allowed him to bench other funds, Permira and BC Partners, which could again review the case.

In question, the ability of banks to cope with the heavy debt burden of local Chinese. Last June, the National Audit Office made an unpublished report, evaluating the debts of local governments to 1200 billion euros. Debts incurred to 80% among Chinese banks. Nearly 25% of these loans come to an end at the end of the year, according to the official.Enough to make investors nervous at the beginning of autumn.

For the businessman Jim Chanos, who made his name in the financial world by predicting the collapse of Enron, the problem of Chinese banks is so large that it could completely cancel the growth of the empire environment. "If we assume that China will issue loans representing 30% to 40% of its gross domestic product (GDP) and half of that debt will be questionable, it represents 15% to 20%. Let's say half of them are covered. China may have to switch to a loss of these amounts and reduce growth of 9% to zero, "calculated the investor in an interview with Bloomberg TV last week.

Interest rates reaching 70%

A feeling that reflects at least the concerns of many investors, as evidenced by the poor performance of local banks in the markets.But analysts located in China do not share this pessimism. "I do not think there is a bubble. These are more questions about the future easy to get unsecured personal loans. Investors are concerned about asset quality of Chinese banks, "cautions Zhang Yi, an expert in the industry for Moody's in Beijing. "The government is responsible for the bank and will do everything to prevent a major problem," said one of his part in Shanghai-based analyst, who works for a large brokerage company in China. For now, the real problem of Chinese banks is the explosion of informal loans. Clearly, the restrictions imposed by Beijing on credit have greatly benefited the black market. "We have no idea of ​​the true extent of the phenomenon, no credible data was available. But banks remain exposed to the last borrower, "said Zhang Yi.For some of these funds lent at usurious rates comes directly from banks.

Last month, the Journal of the securities of China, close to the government, reported that the equivalent of nearly 50 billion euros had been removed on the first two weeks of September in the deposits of the four major state banks: Bank of China, ICBC (Industrial and Commercial Bank of China), China Construction Bank and Agricultural Bank of China. Most of these funds were reinvested, according to the newspaper, the black market in credit, where interest rates can reach up to 70%, while the alternative financial investments are scarce for individuals and businesses. The stock markets are down and banks remunerate savings at rates lower than inflation.

For now, the response of banks to secure their future look for the capital increase.ICBC has announced plans to raise $ 11 billion market over the next nine months. The question is whether investors are ready to go.

Today, advised by Clipperton Finance, the site raises 7.5 million euros to the U.S. investment fund and its shareholders Balderton Ventech history. This capital value to the site between 20 and 25 million euros. On that occasion, Bernard Liautaud, a partner at Balderton Capital and former founder and CEO of Business Objects, will join the board of vestiairedecopines.com to advise the company in its international expansion.

"Vestiairedecopines.com experiencing very strong growth driven by the community.On the site, we selected 45,000 articles fashion products, clothes, shoes, shoes, accessories are discussed live by the community before being purchased. When we receive the product, we inspect its condition before shipping to the buyer. Nearly 200,000 items were circulated in 2011, representing between 350 and 400 orders per day package. Our business volume in 2010 represented 3.3 million and we expect to increase this volume by 4 in 2011 to 12 million and it should still be multiplied by 3 in 2012, "explains Sébastien Fabre, co-founder of the site and CEO.

If the site is also available in French, the community, it is already international in 17%.Mainly British and Germans who come to the French fashion articles and advice from members.

Britain and Germany

Vestiairedecopines.com is going to quickly open a site in English and in German by the end of the year, while centralizing the packages still in France. In the longer term, the site will address the United States by implanting a logistics service. But before considering expansion abroad, it will have to change its name, is certainly very vestiairedecopines.com French, it is unpronounceable in English!

After a ceremony at the station in Tangier, Nicolas Sarkozy will hold talks with King Mohammed VI at the Palais Marshan, during a face-to-head followed by a working lunch. Then he will speak to the press at 17:15 Paris time.

One site to 3 billion

Four years after the announcement, the work can begin. This project should permit the entry into service in 2015 a train up to 320 km / h linking Tangier to Casablanca and reducing by more than half the travel time between the two cities, which will go from 4:45 to 2:10.

Its cost is estimated at 33 billion dirhams by the Moroccan government (3 billion euros) and will be partly financed by loans to prime French, Moroccan funds from Gulf countries and the Arab Fund for Economic Development and social. The European Investment Bank (EIB) was, she refused a competition of 400 million euros, which complicated the closure of the project.

Moroccan media while Germany suspected of having deposited its veto against the funding because of the choice of the Moroccan government to favor the French Alstom in its German competitor Siemens business card.The French group, which had previously exported its expertise in high-speed train in South Korea, Spain and Italy to Morocco will provide 14 trains of eight cars, for $ 400 million euros.

Economic projects

While the French government scans the remark, some commentators believe that the choice of Alstom was used to compensate the loss by France of a contract to supply fighter jets to the Moroccan Air Force, who had to prefer the F16 U.S. Rafale from Dassault Aviation.

This episode now seems forgotten. Nicolas Sarkozy, focused on investment opportunities represented by Morocco, has chosen to take with him two ministers, Eric Besson for Industry and Thierry Mariani for Transport and Secretary of State for Foreign Trade Pierre Lellouche.

The Hexagon is the first partner of the Sharifi kingdom, providing 15% of imports from a country with an average growth of 4.5% to 5% for ten years, accounting for 21.5% of its exports, and employing 100,000 Moroccans in its 750 subsidiaries. Other large projects include the creation time of a Renault factory "zero pollution" with Veolia Environment, which should become operational in early 2012 or Tanger-Med, a huge industrial center and port that participates in a Bouygues consortium.

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The purpose of this tax, which will be part of the draft budget law (PLF) for 2012: to allow Paris to meet a European requirement short term personal loans.Around 1100 French facilities are subject to quotas of carbon. Each year, new plants, boiler plants and enter the system. Now the state no longer had to allocate quotas to new entrants. It must be purchased from the Commission or on the market, and then distribute them free to businesses. By creating this new tax, the state funds this additional cost.

Moreover, the government should announce at the presentation of a PLF government deficit to 81.7 billion euros in 2012. This improvement – the deficit to 95.7 billion in 2011 – is partly the result of the austerity measures taken by the government. The tax burden should also exceed 44% of GDP in 2012, against 42.9% this year. Despite this, the debt will be around 87% of GDP in 2012.

On Thursday, during an extraordinary works council, which lasted all day, Pascal de Izaguirre had planned to give details of the plan. He did not last. "The topic of the day was the proposed merger and any socially impossible before, says Le Figaro Jorge Partida, secretary of the EC and member of the FOR trade union, a majority. Pascal de Izaguirre wanted to give a figure for job cuts. At our request, he did not mention it.It was not on the agenda, we told him to observe the melting process. "

The plan is part of a drastic turnaround strategy Nouvelles Frontieres, which should acknowledge this year the heaviest operating loss in its history. To restore the finances of the company, Pascal de Izaguirre upsets ever habits by bringing together under one roof all brands (New Frontiers, Marmara, Tourinter and adventurer), without removing either. By doing this, this former Air France, arrived first at the head of Corsairfly before returning in May orders for the whole group, wants to end the spirit of competition that may exist between Marmara and New Frontiers, and save money.

'Strategic mistakes

The new entity will be called TUI Travel France and centered around a renewed organization, lighter and cross."The project" Convergence "is by no means a project of standardization or standardization of offerings," insists Pascal de Izaguirre.

By grouping the teams, Pascal de Izaguirre wants to impose more rigorous management, and revive the "spirit of conquest", which had the reputation of New Frontiers. "This plan is the fourth since the early 2000s and the takeover by the German group Preussag, held at the time by Jacques Maillot, said Jean Serrat, a former captain in Corsairfly and former secretary of the EC until 2006. The previous plans were not enough to boost sales momentum because there were strategic errors (in the diversification of products, distribution …). For the first time, brings together teams of Marmara and New Frontiers.This is finally going in the direction of a cost rationalization was inevitable. "

Pascal de Izaguirre wants to go fast. The implementation of the new operational structure of the company is scheduled for early 2012. He has no choice. In recent years, New Frontiers has lost market share that will be difficult to regain. Increasingly, too, is necessary in Internet travel sales, with the arrival of new competitors, starting with Google, which promises to shake up the industry with a brand new search engine for airline tickets.

Also new, the consumer, always on the lookout for bargains, it also has a growing tendency to move from one tour operator.

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Investors in Europe, in Asia and the United States fear that Greece is not able to meet these budget commitments, which threaten to bankrupt the country and aggravate the crisis in Europe. The German Minister of Economy Philipp Rösler has also not ruled out a bankruptcy ordered Greece to save the euro.

These uncertainties weigh heavily on European banking stocks, weighed down by their exposure to sovereign debt but also by fears about their solvency and funding.Specialists in Harbor Advisory today "Wall Street will evolve with European banks, whose main problem is exposure to sovereign debt."

United States, Barack Obama will submit to Congress today plan to revive the economy and jobs announced Thursday, said on Sunday a senior White House. The President will renew his call "to Congress to adopt this bill, which contains the kind of proposals to grow the economy and create jobs."

Week is low in business results – the retailer Best Buy and diverse manufacturing Pall is the only component of the S & P 500 to publish figures – investors will focus primarily on a series of macroeconomic indicators.The latter include retail sales, the producer prices and consumption as well as statistics on the manufacturing sector.

Note, however, leading indicators of the Organization for Economic Cooperation and Development (OECD) published this morning, reporting a "slowdown" of the world's major economies.

The euro and oil fall

In the wake of renewed tensions, the euro fell against the dollar, the euro remained sharply lower against the greenback Monday, falling below $ 1.35 even briefly, as a result of a new access market panic response to the crisis in Europe. Mid-session in Paris, the single European currency was worth 1.3603 dollars against 1.3649 dollars on Friday night. Earlier, the euro fell to 1.3495 dollars, its lowest level since Feb payday advance online. 16. The euro also fell to its lowest level in a decade against the yen.The euro bought 104.64 yen against 105.91 yen Friday. In the early morning, the euro fell to 103.90 yen, its lowest level since June 2001.

Under pressure from a stronger dollar, a barrel of oil has also dropped on the ground. In electronic trading in the morning, a barrel of "light sweet crude" for October delivery lost 1.23 dollars to 86.01 dollars per barrel of Brent North Sea crude for October delivery at $ 1.02 111 $ 75.

Values ​​to follow

The side of values, the French group Technip Engineering said Monday the acquisition of the entire capital of the U.S. Global Industries (51.36% to 7.80 dollars), a specialist oil services submarines, on the basis of a valuation of $ 1.07 billion (770 million).Technip will pay $ 8 cash per share, Global Industries, a premium of 55% over the closing price of its prey Friday night on Wall Street.

For its part, the online retailer Amazon (0.88% to 213.26 dollars) would be in discussions with publishers to launch a book rental service digital subscription, said Sunday the Wall Street Journal in its edition line.

After the unexpected departure of the patron saint of Internet giant Yahoo!, Carol Bartz, rumors of a union between Yahoo! (-2.21% To 14.16 million) and AOL (-2.72% to 14.32 dollars) have resurfaced. The CEO of the Internet service provider America, Tim Armstrong, have consulted with investment companies to test investor appetite for a reconciliation between the two groups advance Bloomberg.Tim Armstrong become the leader of the group.

For his part, Hertz Global (-2.54% to 9.58 dollars) has extended the date of its offer for Dollar Thrifty (-1.22% to 64.08 euros) Automotive Group (DTG) until November 1 .

Wynn Resorts (3.04% to 153.25 dollars) through its subsidiary, Wynn Macau has announced the acquisition of land over 20 hectares to the government of Macau for approximately $ 193 million. The plot, located on the Cotai area, should allow the development of a resort and recreation.

A league of companies

Advanced beyond the sports of "cherry blossom", the nickname of the national team, the country of the Rising Sun has mainly a very special championship, which does not leave indifferent rugby players from Europe, sort of Nations (New Zealand, Australia, South Africa), and the Pacific Islands (Samoa, Fiji, Tonga). Third national sport, and this for over 100 years in the archipelago, the discipline has developed to organized a national championship, the Top League. With a special feature: the clubs come from the companies.

"These clubs are like works councils in Europe, shows Miguel Fernandez, agent of several French players. The rugby players are employees of the multinational corporations, which finance between 85 and 90% of the teams. " Hence the original names of clubs such as Coca-Cola West Red Sparks, Toshiba Brave Lupus and Yamaha Jubilo.Toyota even has two teams playing in the Top League (14 teams), the elite rugby in Japan.

Consequently, this "championship companies" gives more flexibility for clubs to recruit players from outside, when the National Rugby League wage bill caps the French clubs to 8.7 million. For the time being, no French player in the league evolves Japanese, but many of the major European leagues rugby and South Pacific have been tempted. Most recently, the former third line of the French stage, James Haskell, free from any contract with the club from the capital, announced that it would conduct a season with the Ricoh Black Rams Japanese before starting a new lease in 2012 with Wasps English payday lenders. In his previous contract in Paris, the player's annual salary was estimated at 300,000 euros.Likely that his Japanese club for a season or at least aligned with that level or beyond.

Players of the hemisphere are the most numerous

For a star player in the Top 14 French, whose gross annual salary up to 400,000 euros, the Japanese archipelago can also represent an attractive option at retirement. Around the world rugby, the phenomenon is growing: in 2008, two members of the hinge legendary Australian wallabies, Stephen Larkham and George Gregan signed in Japan. The first, to 34, with the Ricoh Black Rams, and the second 35 years with Suntory Goliath.

The choice of the country of the Rising Sun did not, however, only by default. "On average, Japanese wages are 20 to 30% higher than those in Europe, explains Miguel Fernandez, where the French Top 14 offers a gross average monthly gross earnings between 10,000 and 12,000 euros."Examples of multiply exile for five or six years. Twice in the middle of his career, Troy Flavell of New Zealand, currently operating Bayonne, selected the Top League (Toyota Club between 2004 and 2006 and Mitsubishi Dynaboars between 2008 and 2010).

Even the coaches are getting into, as the country "looking for experienced technicians to increase his level of play," said Miguel Fernandez. Jean-Pierre Elissalde, a former French scrum-half, led for a year the selection of Japan. For his part, Christian Gajan, current director of the Bayonne rugby took over in the mid 2000's Coca Cola West Red Sparks. Finally, and since 2006, the current XV of Japan is under the leadership of the All-Blacks legend John Kirwan.

Still, the financial firepower of a club is sometimes not enough to convince European players into exile at the end of the world.Therefore, the countries most represented in the Top League are those of the southern hemisphere, for reasons obvious geographical proximity. In the national party in New Zealand, they are even a dozen players from New Zealand, Samoa, Fiji or Tonga to defend the Japanese colors.

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