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While the EBA is preparing to issue health bulletins today of 91 European banks, not this year – the third of its kind – had emerged as perilous. These stress tests are designed to reassure the strength of the European banking system, ensuring that they are adequately capitalized to deal with simulations of shocks on growth, equity markets or real estate.

So far, the main risk was to fail to convince, as was the case a year ago.With markets abusing European banks in turmoil on sovereign debt, the danger is now adding fuel to the fire …

The Institute of International Finance, which includes 400 credit institutions in the world, concerned that the emphasis of the supervisor to publish banks' exposures to the sovereign debt would aggravate tensions in the markets.For if the stress tests are unwilling to consider the hypothesis of a failure, even partial, state of the euro area, even though the scenario is not ruled by some European finance ministers, analysts will not go without applying the discount corresponding to their own calculations.

In fact, stress tests, vintage 2011, were built partly in response to criticism of the 2010 vintage: his credibility was undermined when the Irish banks were left to the mat a few months after passing their check-up! Hence the idea that the number of "recalibrated" should be higher than last year: in July 2010, seven banks have been stigmatized with a lack of capital combined 3 billion euros only .

Confusion

From this perspective, the tension went crescendo in recent days.Adding to the sense of confusion at the moment that sticks to all European decision-making, many countries or institutions have formally or informally, started to spill the beans. The German regional bank Helaba was denounced by itself, Wednesday, accusing the same time the EBA does not take into account the 'silent participation' 10% owned by the state of Hesse in his capital is not regarded as capital drives. In Spain, two savings banks, suspected to be among the victims of stress tests, have healthy self-proclaimed as yesterday, stating that their criteria are not exactly the same as those used in Europe! The Spanish authorities have also criticized the method of Constable European banking.

Although it was heavily judging, fiscal 2010 proved useful over time.A study by Morgan Stanley, 19 of the 22 listed banks passing the bar set by the supervisor by a margin of 2.25%, have increased since their capital. Thus, if the EBA requires a minimum of 5% capital ratio, "we believe that investors will scrutinize those who pass with a margin of less than 1%," warned analysts at Morgan Stanley.

Still, by nature, the exercise is not enough to reassure the markets. It focuses, in fact, on the solvency of banks when the rising concern about the cost and availability of the resources they need to find on the market. In the current climate of mistrust, the market assess the health of banks, primarily through the quality of the signing of their country of origin.For financial institutions of Europe device, each day that passes makes access to capital more expensive and more difficult and more involved when a deterioration in the sovereign rating by any rating agency.

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At Kiriko, a Japanese restaurant in the ninth arrondissement of Paris, this chef is adamant since the disaster Fukushima, "attendance has dropped from 20 to 30%. A few yards away, in Yokohama, the conclusion is the same. Another borough, figures identical to Kyotori between Place de la Bourse and the Opera, "we lost a third of customers." Even if he refuses to disclose its revenue, the head of another Japanese restaurant says: "In recent days, a lot of customers are asking for certificates on the origin of the fish we use in our sushi. "

Aurelian, a young 26 year old Lille, is one of many suspicious. "Even in normal times, when you see the television reports on Asian restaurants, it makes you skeptical.Where do the fish, seaweed, sauces, rice …? We do not know anything. "

Few Japanese fish imported into France

The ignorance of consumers about the origin of the products they use, just that battle Alain Bailly, Director of Counter ocean, a company based in Rungis, providing no less than 300 sushi restaurants. "The lack of communication and transparency creates among consumers a deep sense of doubt and anxiety, when in reality, almost nothing is anywhere in Japan cash advance." What pushed this company to send a communique to all its customers, recalling that "the salmon comes from Norway, tuna in the Indian Ocean, the Mediterranean sea bream, mackerel and mullet from France …». A reminder that some restaurants have not hesitated to affix labels on their windows.In fact, among the products commonly used in Japanese cooking, only some wasabi and seaweed from the country of the rising sun. "And yet, one can easily find from the USA, China or Korea," says Alain Bailly.

When contacted, the European Commission recalled that on his side since the end of March, all food products from the area near Fukushima are subject to health checks reinforced from Japan, and are re-examined upon arrival on European territory. As the Ministry of Agriculture and Fisheries, services stressed that only 450 tons of marine products in Japan have been imported into France in 2010.

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Baroin, the budget minister, and Georges Tron, the Secretary of State for Public Service will receive Tuesday the union as part of the "rendezvous pay" annual. The daily Les Echos, the meeting should end with the announcement of a new freeze on civil service salaries for 2012. This ad may be cringe at a time when Xavier Bertrand, Minister of Labour speaks to legislate the private companies that distribute dividends paid a bonus of 1000 euros, an amount that is not the taste of the Economy Minister Christine Lagarde.

Bercy and should announce a freeze of the index used as the basis for calculating the salaries of officers, as Georges Tron had suggested: "There is still room for maneuver. The imperative remains the absolute master account. "Something the department had also already taken in 2011, which would make 2012 the second year without an increase. "An extension of last minute is very unlikely according to several sources familiar with the matter," says Les Echos.

This gel is motivated by concern for fiscal restraint. The same source, the cost of an increase of the index point is valued at 900 million euros per year for three public (state, territorial and hospital), which employ 5.2 million workers.

Progressions individual

To mitigate the discontent union which will surely result from this announcement, Bercy social partners could propose a new "route point" at the end of the year, with the possibility of a "future act" if the growth jumped, "or, as we approach the presidential election, the political urgency moves the lines."

Georges Tron nevertheless wishes to clarify that "freezing point is not to freeze wages." He said the natural play of automatic career advancement and accelerated promotion – which represents an annual cost of 1.2 billion euros in state guarantees individual pay increases. Also according to ministry data, the purchasing power of workers has increased steadily for several years and will continue to do so in 2011 "The INSEE statistics confirm this increase for 2007 and 2008 but the figures do are not yet available for 2009 and 2010.

Finally, state employees will donate again in 2012 half of the savings related to job cuts, about 600 million euros complemented by measures already on the track as the launch of the incentive and extension of the merit awards.Twenty million euros could be distributed in the form of housing or childcare.

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"More conflicts on wages in enterprises

Just unveiled the proposal to regulate the PS rents raised an outcry among real estate professionals. First, some believe that rental inflation is not a national problem. "Today, with the exception of the Paris area and some very large cities, rents are down. This is the case, for example, in Clermont-Ferrand, Saint-Etienne and Nantes, slides Jean Perrin, president of the UNPI (National Union of Property Owners) 4500 which brings together property managers and realtors.

"For investors who benefit from Scellier, rents are already capped, argues Guy Nafilyan, CEO of Kaufman & Broad France. In Paris, the square meter is rented more than 21 euros or 35 euros against 34 on the open market. "

As to specificity Paris, Jean Perrin was surprised that the Socialists do not know all the aspects."Each year, the state issued a decree blocking the rents in Paris, says he. But it is not respected. The tenants are so happy to find a home, none complains to justice. "

Above all, most real estate experts believe that rent control will not serve the interests of tenants in the medium term. "The danger is to lead to a shortage of rental properties with the key to a new higher price, said Laurent Vimont, general manager of the network of estate agents Century 21. Should this measure be implemented, those who buy an apartment for rent prefer to sell it online payday loans. As for potential investors who are reluctant, they would turn away from real estate. "

A bad precedent

In fact, many are convinced that this proposal is a false good idea."If the rent freeze was the right solution, we have established long time," said Bernard Cadeau, president of the network of estate agents Orpi. "The 1948 law that blocked the rents did not stop their surge," said Francis Bertière, CEO of Bouygues Immobilier. Others are not convinced that such a policy would be a plus for the national economy.

"If the state was embarking on such an adventure, it would be to restore purchasing power to the French, argues Serge Ivars, President of the USA (Union of Real Estate). However, lowering the rating of the tenants, it would lead to taking money to owners who are often small savers. "

In fact, to avoid an escalation of rents, it would be better to thoroughly review the policy of building."As France has not quite built for forty years, there is a housing deficit estimated at 1.2 million, explains Bernard Cadeau. For the reverse, it would build 500,000 houses per year. However, it does not exceed 300,000, which exacerbates the hole. "And to reverse the trend, it will take more than a miracle solution.

Earlier this year, the head of state went to Mayotte in anticipation of the creation of the 101st French department. For the 186,000 inhabitants of the island, the promise became a reality this Thursday, March 31.

If 2010 has prepared the process of departmentalization, Mayotte has a long way to go. The economic and social challenges are enormous. Economic First, because the island is in a difficult situation. The written conditions of the Institut d'émission des overseas (IEDOM, relay Overseas Bank of France), published recently, last year was particularly weak in all sectors (including agriculture, construction, trade). The labor market continued to deteriorate, consumption fell, as imports.In short, Mayotte had a year 2010 "morose" and, apart from a little less poor prospects in tourism, "in 2011 gave no indication of genuine improvement", said the new director of the IEDOM, Nicolas de Seze.

Development Fund

Social challenges then, as the island is facing significant migration flows. The proportion of foreigners, mostly from other islands of the Comoros – who come to find work, join relatives, to qualify for the schooling of their children or for treatment – from 15% in the early 1990s to nearly 41% in 2007, fell within the central bank in a previous study savings account payday advance.The vast majority would be illegal.

The cost of illegal immigration has been estimated in a Senate report from 2008 to 32.4 million euros for national education and 30 million for health services – more than 3.3 million on the fight against this immigration (police, gendarmerie …). Excluding the cost of moonlighting.

New French department, Mayotte "will benefit from development funds relatively large," recalls Will there be IEDOM. Another issue will then arise: "The ability to use knowledge. The real problem is there. We need a real project management for projects, it will take time. "There must then be the private sector take over public investment. Not a small feat in a country where, today, produce is more expensive than importing "…

The current situation is unfortunate: when an attacker is unlikely to be identified, most victims complain, but stick there. Without a moment to imagine enjoying any financial support.

Timely remedies available …

To redo official papers and keys has a cost that can be supported by insurance "means of payment, usually sold by banks. The most generous contracts will cover up the cash to the extent that they were withdrawn within 48 hours preceding the assault, or theft of a mobile phone and fraudulent communications that go with it. Be careful though if you read the contract, some assurance of mobile phones are indeed sometimes disappointing.

However, nothing to hope for other stolen property and value: purse, scarf, etc..Unless you have a comprehensive home particularly strong on this point, the robberies are never compensated.

People with low incomes (less than 16,716 euros per year for 2011, excluding increases for dependents) may however receive aid from 4179 up to EUR (for 2011) allowing them to redeem the stolen items. They need to understand that the CIVI (Commission on Compensation for victims of crimes, with the high court of their home. More information http://www.justice.gouv.fr/recherche-juridictions/ ).

Some individual policies are operational

Bruises or emotional shock found by a work stoppage, may also give rise to compensation. As before, we must seize the CIVI, and compensation if there is, it is also reserved for persons with limited resources.The supporting documents to gather as many, you'd better take this step with an attorney (if benefiting from legal aid) or insurer for legal protection if necessary.

Another avenue: that of GAV (Guaranteed Accident Insurance), individual contract, whose interest is to evaluate and compensate the individual cases, the accidents of everyday life, including assaults, particularly in the absence of third party responsible and identified. Provided that this guarantee is very efficient, that is to say, it plays for 1% of disability (in the case of the best contracts), which corresponds to a stiffness of the hand or the shoulder for example. Finally, you can turn to a single accident, subject again, that security is not confined only to severe disability.

Last year, the mobile phone market was above all marked by soaring sales of smartphones, up 72%. They now account for 19% of the 1.6 billion handsets sold worldwide. A share that will grow and could reach 70% within two to three years.

Nokia, whose difficulties are no secret to anyone, is still the market leader, with another 28.6% market share (against 36.4% in 2009). "I do not see Nokia losing its global leadership in the short term, Le Figaro said Carolina Milanesi, research director at Gartner. The group however is constantly facing new challenges. Especially the "white boxes" these little Chinese brands that have long served the limits of legality and now have a storefront.Micromax carve cruppers or G5 with Nokia in India, Africa, or Russia and Ukraine and of course, China!

Samsung continues to position itself as a challenger to Nokia in emerging markets and entry level. Its flagship smartphone, the Galaxy S was sold about 10 million units in the last quarter, making it a very serious competitor to the iPhone. But Apple continues to benefit from "the strength of the attractiveness of its brand," said Carolina Milanesi. A change in the pricing of Apple, although unlikely, could be accompanied by a new boom in sales cash advance loan no fax. And even without that, Apple and RIM (BlackBerry) now rank ahead of Sony Ericsson and Motorola.

The challenge of operating systems

The symbol is strong in the fourth quarter of 2010, Symbian, Nokia has lost its place as the operating system's biggest selling world in favor of Android from Google.On the whole year, the OS remains the Finnish front, with 37.6% market share, a position very fragile in view of recent sales. "Even if the group is preparing to make drastic choices. It should not however abandon Symbian for Android. In contrast, in the high end, the platform could be Google's preferred solution to the house, Meego. " Globally, Carolina Milanesi estimated 5 or 6 operating systems to coexist, with three or four major players by region. The diversity of solutions is needed to face the width of an offer which starts at $ 20 to finish at $ 900.

Finally, the radius of disappointments Windows Phone figure 7 that despite significant marketing resources in place was not up to the expectations of the market. In the fourth quarter, it sold only 1.4 million phones in Windows 7.

"Stupid," "horrible," "simple, modern and boring." Facebook page from Starbucks, the regulars of the coffee chain has more than enough words to describe the logo change envisaged by the company in March. One of the 281 comments posted on the official website of the brand is even more direct: "What is the moron in your marketing department who had the idea to remove the name world famous Starbucks Coffee on your new logo? .

Far from being radical, change is surprising indeed. Logo in force since 1992, when its IPO, the Seattle-based group that retains the stylized siren, abandons the black color that was present in its former corporate signature and keep only the traditional green. Exit statement also internationally known as "Starbucks Coffee".

Aware of the risks of marketing such a change, the company's CEO, Howard Schultz, took out the heavy artillery to be justified. Video, photos and special pages are multiplying on the brand website. "Although we have been and will always be a distributor of coffee, it is possible that we have in the future new products without coffee" Howard Schultz is justified. The latter also points out that such changes occur for the 40-year mark, a period conducive to a fresh start.

"A generic '

However, these arguments do not seem to satisfy fans of the coffee chain payday loan lenders. Some – like the man who says "never start their day without their Starbucks, even walking in 60 cm of snow" especially fear of no longer navigate. "When I go abroad, Starbucks are my benchmarks. Now I no longer recognize, "says one visitor.

Specialists are also surprised. "It's crazy. They will say what? 'The coffee formerly known as Starbucks?' "Surprised James Gregory, the consulting firm CoreBrand. The latter concern mainly the signing unnamed sui could harm the brand also present in other distribution networks. "Here you're dealing with customers who are not regulars. Your product becomes almost a generic product and it does not say it's a Starbucks product, "said he.

Financial issues also raise questions. Starbucks, which is emerging from a restructuring period marked by the closure of 1,000 stores worldwide, will change the logos on its 16,000 stores and hundreds of products. For now, the cost of this transformation of the logo is not mentioned.

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Background

Logo criticized and removed.

In France, the income ratio of a household, the relationship between housing expenditure and income, traditionally does not exceed 33%. According to the first baromètreSeLoger / Ifop, a quarter of French spends yet up to half of their income. The survey based on responses from 1001 individuals confirms that the cost of housing is a real problem. The fringe's youngest population of renters (18-35 years) and single women face real difficulties. Financial problems that will – logically associated with a poor level of satisfaction. A five French says the comfort of his home does not match the investment they must make to live."In fact one third of French people said they chose their housing in high stress and can even speak of a default choice for 14% of them," says the barometer.

22% likely poor housing

Worse, the survey found that 7% of French people consider themselves ill-housed, that is to say that their apartment is dirty, insecure in terms of energy, they are victims of the housing shortage, or they struggling to maintain the premises. A situation in which 22% of the French fear of being left. Our countrymen have a very pessimistic vision of the future, and three-quarters of them believe that the situation will deteriorate … Unemployment and the vagaries of life as divorces are for them the main aggravating factors.Among those they consider most at risk, they also mentioned the minimum wage earners whose salary is not enough to guarantee access to housing … Toit is still necessary not to lose his job!

Their fifties generally satisfied

The weight of housing in income fortunately fades with the years. According to the survey, the break occurs around 35 to 49 years, and the majority of French people feel that their situation is comfortable at around 50 years. The level of effort is more than 25% for half of the fifties. The barometer points out that these results "reflect the will of the French access to the property in order to convey their property. And ensure security. " Off state (77%) is that the particular owners of less fortunate people waiting for a gesture.Nearly half of respondents considered that they are able to improve the housing situation in France. 74% of French are also favorable to the requisition of vacant dwellings.

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With the return, households have started to eat. Their spending rose 1.5% in September after declining 1.6% in August, according to the latest figures from INSEE. On the entire third quarter, they rose 1.2% after falling 0.8% in the second. Enough to power the growth of the economy over the period.

Main driver of consumption in September, car sales rebounded by 11.2% over the month, after sharp declines in previous months. The economy minister welcomes the "enduring success of the scrapping despite the partial reduction of the device earlier this year." Throughout the quarter, spending on clothing experienced "record growth" of 4.5%, Insee said, "because the sales have started late this year."