Loss history published Monday by the German manufacturer Q-Cells solar panels, receivership last week to the French pioneer Photowatt, bankruptcy of the American Solyndra, despite a half-billion dollars in loans guaranteed by the Obama administration … The horizon of the PV industry seems to have dimmed in recent weeks.

Last date black cloud, so the results of Q-Cells, which Monday posted a quarterly net loss of EUR 57 million, a quarter of sales, itself down 43% year on year cash advance to savings account. The bad news have plunged the action Q-Cells up to 30% on Monday in Frankfurt. The German company cited "market environment significantly more difficult than expected."

All sorts of people need fast cash though are unwilling to compromise on interest rates. Naturally, the lower the interest rate, the better. Low rate payday loans are easy to access thanks to the Internet.

The fall of a six-story elevator building in a housing project in Paris on October 27, revived the debate on the safety of these facilities. Work had been made last month on this lift-de-registered by the company Schindler Somatem, responsible for maintenance. Tenants of the building where the accident occurred will file a complaint against Paris-Habitat, owner, announced their partnership "Tenants angry." The social landlord, he has filed a complaint against X. An investigation is underway to determine if it was a defective part of the manufacturer or poor maintenance. Contacted by The Figaro.fr Schindler declined to comment.

France has 520,000 elevators, accessible to 482,500 people. National Park is the most dilapidated of Europe, half of the devices with more than 25 years and a quarter over 40 years, according to the Federation of elevators online cash advance.He points to the installation of variable frequency (a braking system is turned off) on all lifts while he believes that technology is only useful for devices used extensively, is to say in very high buildings or offices, or 20% of the housing.

• New constraints maintenance and troubleshooting

Paul Philippot, managing director of the National Union of property (UNPI), professionals have "staked everything on the renovation, more lucrative than the interview." Robien law has yet mandated a visit technicians every six weeks. "But the elevator companies are understaffed to meet this obligation," said Bruno Dhont.

Greece: the banks will have to contribute more

Creditor banks in Greece will have to accept losses "substantial" in the new bailout of the country known to be substantially revised at the deterioration of the situation in the country, warned Saturday. At a meeting of central bankers on Friday night in the only euro area, "we agreed to say that we had to have a substantial increase in the contribution of the banks' rescue of Greece, as a impairment of their claims, said the leader of European finance ministers, Jean-Claude Juncker.

According to diplomatic sources, the ministers agreed to effectively negotiate with the banks at a discount of "at least 50%" against a target of 21% decided on July 21 with the banking sector.They thus de facto endorsed the conclusions of an expert report which was presented by the troika of donor funds in Greece (EU, ECB and IMF). The paper believes that a discount of 50 or 60% hope to stabilize Greece without having to increase in the amount of gigantic international loans that have already been promised.

A "discount" is the term used in relation to the financial depreciation of the value of loans taken by creditors in this case private banks and investment funds that hold government debt. A discount of 50% of the private sector, the second program of public financial support pledged July 21 to Greece, however, should be slightly revised upwards with government loans (Europe and IMF) to 114 billion euros, against 109 billion euros at the time scheduled.To maintain the envelope of 109 billion euros unchanged, it would bring the discount to 60%, according to calculations by experts online payday loans.

"It is also an effort by the private sector"

In any event, the second bailout in late July, just after the first amounting to 110 billion euros agreed in spring 2010, will have to be redesigned. "It's pretty clear that we need a substantial discount on Greek debt," also said Saturday the Swedish Finance Minister Anders Borg on his arrival in Brussels for a meeting with colleagues from across the EU."We will now work on a new plan in Greek and this new plan is true that there is a substantial effort to Greece again, there is an effort by European countries and will also require an effort of the private sector" said his Belgian counterpart Didier Reynders.

The question is whether the banks that have so far dragged its feet to give the pot, will accept a negotiated settlement does not pass through a default of Greece said "messy" serious consequences. "It's a negotiation s'entame," said Didier Reynders. In return for the effort required on the Greek claims, it is intended to recapitalize European banks to the tune of nearly 100 billion euros.The subject was Saturday in the agenda of the ministerial meeting, before a meeting in the evening between French President Nicolas Sarkozy and German Chancellor Angela Merkel and the EU summit on Sunday.

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"SPECIAL – Banks in turmoil

Banks: State ready to inject funds

French banks are they as strong as they claim? While Baroin, Minister of Finance, was the United States this week to reassure Americans about the health of European banks, Bercy is yet ready to draw a rescue plan, according to the Journal du Dimanche. Citing sources close to the bank and Elysium, the weekly reports that a secret crisis meeting was held in the Treasury Department Sunday, September 11. The leaders of BNP Paribas, Societe Generale, Credit Agricole, Banque Populaire, Caisse d'Epargne and Crédit mutuel have attended.

On the agenda, the capital of these institutions. While the debt crisis spreads, Europe wonders if its banks could absorb the shock of a default of Greece. Especially since the hypothesis of a failure of Athens is no longer taboo.This is why the French government is proposing to inject 10 to 15 billion euros of public money to strengthen bank capital.

Several forms of intervention would be considered, since the loan to the simple issue of preference shares (private equity voting rights) with options to purchase, understands the JDD. The initiative comes as the Bercy banks are suffering on the stock market. This week, bank stocks have suffered losses of more than 10%. Since July 1, the Societe Generale shares tumbled 61%, 58% of Crédit Agricole and BNP Paribas 53%. Aggravate the climate of distrust surrounding the French banks, groups such as Siemens or Meetic, decided to limit their exposure to these institutions payday loans. As the major U.S. money market funds.

The Elysee and the Bank of France belie

According to the JDD, Societe Generale would have accepted the plan, subject to conditions. CEO Frederic Oudéa, would have liked all the French banks are concerned to avoid pointing the weaknesses of the one or the other in particular. But Baudoin Prot, CEO of BNP Paribas, had initially refused this rescue group, burying the coup the project. It must be said that he repeats everything is that BNP Paribas does not need a capital increase. Last week, it was stepped into the breach to deny information from the Financial Times that the group was looking for a new shareholder in Qatar.

For its part, the Elysee denies the existence of a backup plan. "This is absolutely not being prepared," insisted the entourage of the Head of State to the JDD. "Banks have increased their capital by 50 billion euros since 2008.We encourage them to do, but not with public money. "Also interviewed by the Sunday newspaper, Christian Noyer, Governor of the Bank of France said that there was" no plan ". He said French banks have "a substantial capital base, comparable to those of other European banks, and are profitable." Investors would also not fooled. "I see no sign of a run and the very idea seems preposterous."

Player Figaro BFM

Industry and households demoralized

Optimism has no place in French industry and households. According to the monthly survey published Friday by INSEE, the synthetic indicator of business climate in manufacturing industry fell by six points to 99 points in September, passing below the 100 that corresponds to the average long period for this indicator. "He finds his level of August 2010," INSEE said in a statement.

As for the index of business climate as a whole (including services, construction, wholesale and retail trade), it falls along eight points to 97 points. Clearly, "the economic climate deteriorated in all sectors except construction," says INSEE.

In detail, the entrepreneurs of the manufacturing industry believe that their past activity slows again.They are particularly concerned to see their order books, global and foreign, are down. The situation is similar in both food processing, electrical, electronic and computer in the car, where the activity is expected in sharp decline in the coming months.

Confirming this gloom, the turning point indicator of INSEE has clearly shifted in the red. If it is not necessarily synonymous with recession, "the index is in all cases the echo of a deceleration of growth in all sectors," explains Sandrine Duchêne, head of the department of economic INSEE.

The financial situation of the French deteriorates

Even pessimistic side of French households, whose confidence index has lost five points to 80 points in September, according to data from the institute poor credit personal loans. This is its lowest level since February 2009.This indicator had a slight gain in July (three points) after months of stability. But in September, households appear significantly higher than in July to anticipate an increase in unemployment (23 points).

To this must be added the concerns of their income: between July and September, the opinion of households on their personal financial situation has deteriorated further, the balance corresponding dropping six points. Thus, the French are less numerous than in July to consider appropriate to make major purchases (-5 points). About their nest egg, they also feel that the time is not conducive to spare, the balance being lost 8 points in its long-term average.

According to Sandrine Duchêne, growth forecasts of 0.5% set in June for the third and fourth quarters will soon be downgraded."Since mid-2009, we tablions on a scenario of sluggish growth," said she. But the accumulation of adverse factors, "as the sovereign debt crisis in Europe, or concerns about the economic situation in the United States and China," cloud the prospects for a real recovery in the Hexagon.

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The Paris stock exchange plunges into the red

The Paris Bourse widening its losses. After an opening down 1.19%, the CAC 40 drops 2.43% to 3186.47 points in mid-session and switches under the 3200 points. In Frankfurt, the Dax lost 2.07% while in London, the FTSE loose 1.68%.

The day after a volatile session, which however ended with a small increase, investors are very cautious. On Friday, early afternoon is indeed expected U.S. monthly report on employment. This will be the only highlight of the day."There is not a measure of uncertainty before the employment figures to be published, while the fact that U.S. markets are preparing for a long weekend encourages traders to reduce their short positions," Camron says Peacock, an analyst at IG Markets.

As on Wall Street, who finished the day sharply lower yesterday, as investors take profits after four sessions of consecutive increases. This morning, Asian markets also followed this trend.

In addition to wait before the report was released, traders were disappointed by U.S. indexes mixed. The weekly jobless claims have fallen and certainly the contraction was avoided in the manufacturing sector, but construction costs and productivity plummeted.In addition, the White House confirmed the pessimism about the weakness of the recovery across the Atlantic in scaling back its growth forecasts.

Hesitation in oil markets

As for the oil markets, prices causes a wait of a dispersed way. In morning trading, a barrel of "light sweet crude" for delivery in October lost 2 cents to 88.91 dollars a barrel while Brent North Sea crude for October delivery gained 19 cents to 114.48 dollars. In addition to the jobs report, investors feared the consequences of the violent disruption Katia approaching the U.S. coast. In the Gulf of Mexico, BP, ExxonMobil and Royal Dutch Shell began evacuating their staff from oil platforms. The Gulf of Mexico provides a quarter of the production of black gold in the United States.

On the foreign exchange market, the euro has stabilized at 1.4238 dollar.Yesterday, the European single currency fell sharply against the dollar, within the scope of renewed concerns vis-à-vis the health of the euro area, where industrial activity contracted in August, contrary to United States.

Rising energy costs caused a 0.5% increase in producer prices in July in the euro area, as expected, but overall inflationary pressures subside to the extent that the economy of the skate zone.

Values ​​to follow

France Telecom: -0.96% to 13.36 euros

The operator has received numerous expressions of interest for its Swiss division, told Reuters CEO Stéphane Richard, noting that financial market volatility would not affect projects sales of assets of the group electronic check payday advance.

Bouygues: -1.15% to 25.87 euros

The Standard & Poor's announced that it placed the long-term rating of A-group under review with negative implications following the announcement by him of a proposed acquisition of securities.

Total: -1.83% to 33.74 euros

The oil will extend all over France its network of service stations at low prices, after tests conducted last year in dozens of outlets, according to Les Echos.

Safran: -2.12% to 27.18 euros, Suez Environnement: -4.10% to 11.11 euros

Saffron is the best candidate for an entry in the CAC 40, while Suez Environnement, whose price has fallen heavily since the beginning of the summer, should come out, say professionals in the Paris Bourse.

NYSE Euronext: -1.72% to 18.60 euros

The London Stock Exchange has confirmed a press report that it is discussing a possible settlement with LCH.Clearnet.Discussions are at a preliminary stage and there is no guarantee that it would, he said.

Arcelor-Mittal: -3.84% to 14.51 euros

The group plans to resort to short in the fourth quarter at its plant in Florange (Moselle), and will ask 600 of the 3,000 employees of the plant to take RTT in September, officials said Thursday a union source

Sanofi: -2.28% to 50.25 euros

The group confirmed Thursday it has reached an agreement with Pfizer to produce in France generic versions of Lipitor, the cholesterol featuring the American group.

Neopost: + 8.80% to 55.49 euros

The group raised its forecast of annual sales for the second time, following an accelerated growth in the second quarter, thanks to the dynamics of North America.

As for recommendations:

EDF: -1.89% to 21.24 euros

Goldman Sachs has revised down its price target on the title, which goes from 49 to 31 euros, while remaining for purchase.

Carrefour: -3.60% to 17.52 euros

HSBC lowered its recommendation to "overweight" to "neutral" and target price of 30.50 to 20 euros.

Pernod Ricard: -1.03% to 61.28 euros

Bernstein lowered its price target from 76 to 67 euros.

Stallergenes: + 0.71% to 49.75 euros

The laboratory of immuno-allergic Thursday announced a net profit up 18% in the first half to 23.7 million euros, benefiting from the "business growth" and a "moderate increase spending research and development. " In the process, Oddo is to reduce its recommendation to neutral.

SNCF tariffs: "We want more transparency"

A new decree, issued July 31, should allow the station not to set an annual calendar of dates or normal movement of its trains. The National Federation of Transport Users (FNAUT) will be consulted as the set of consumer groups before the implementation of new measures. Its president, Jean Sivardière explains the consequences of their introduction.

Lefigaro.fr – The decree abolishing the concept of peak or normal was claimed by the SNCF. What benefit the operator does he draw?

Jean Sivardière – SNCF wants more freedom in setting its prices to meet more of its trains reservation is to say mainly the TGV, but also trains Lunéa (night train, Ed) and trains Téoz (Paris-Clermont-Ferrand, Paris-Toulouse and Bordeaux-Nice, Ed).The TER intercity, Coral, are not affected. The absence of a predetermined schedule as it is today will allow it to adjust its prices more freely according to demand and events. This is the generalization of "yield management" pricing based on supply and demand. The benefit for the station is to be better armed against competition from airplanes, cars and eventually other train operators who will come with the opening of the network under EU regulations.

The station will therefore be free to increase prices …

Yes, when demand will be strong. But it can also reduce some of the trains filled to attract travelers. We do not reject the principle of the decree. Unlike other associations, we try to assess the medium-term effects.Of course, they will be positive for the station, but we believe that if the station is in better financial health, the traveler found there too. If the operator performs better trains, the French users should benefit from a tariff acceptable. In Germany, where pricing rules are much more rigid, the prices are also higher.

Is there not a risk of soaring prices?

The decree provides that the station will make public the amount of the highest rates and that of the lowest rate charged instant payday loan lenders. But we also know that the operator is a state within a state and it is difficult to impose such measures. We have no evidence that the average tariff will not increase, but we nevertheless believe that a surge would mean a loss of customers, and would therefore be against-productive.What we regret is the new benchmark loss arising from the removal of the schedule of dates for users already lost to the variety of tariffs. When we are received by the Advisory Committee of the SNCF, for example, we will request the publication of the quota of seats at reduced rates. Currently, we are not aware of this number. We need more transparency so that travelers know what they pay for. For several years, we also ask for the maintenance of lines parallel to the TGV Corail. This would create a kind of low-cost rail. This line exists in the Rhone Valley. They work very well and does not infect clients of the TGV.

New User Reviews

A survey by the Consumers' Association CLCV last spring and published Monday in Le Parisien, Aujourd'hui en France testifies to the annoyance of SNCF customers. Chief among complaints: the pricing policy. Nearly 90% of 570 respondents believe that prices are expensive or too expensive. According to a study by Boston Consulting Group, the average price per mile has actually increased by 26.4% between 2002 and 2009, twice as much as inflation. Travelers also denounce the complexity of the fee schedule. Another study conducted by the association CLCV also noted between the discount cards, and offers Prem's and other iDTGV, it was possible to find twenty different prices for the same seat.Finally, the survey raises the issue of timeliness because nearly half of respondents say they regularly experience delays … and poorly compensated. 63.9% of passenger demand and to be systematically compensated for any delays exceeding 30 minutes.

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Irene would cost tens of billions

The bill may be steep Irene. The governor of New Jersey, Chris Christie, has evaluated this Sunday on the NBC television network damage caused by Hurricane "billions of dollars, even tens of billions of dollars." According to an alternative estimate delivered by the consulting firm Kinetic analysis, the hardware cost of this storm is expected to rise between five and ten billion dollars, most likely around seven billion. Just to the North Carolina and South Carolina, two states already affected by the hurricane, the amount of losses expected to reach between 200 and 400 million.

Above all, this damage should be responsible in large measure to the State, businesses and individuals, when insurers should take on a lesser share of the burden, said Chuck Watson, one of the leaders of Kinetic Analysis told AFP."Most of the structural damage will be caused by the rising water because of rain and coastal flooding. Yet this type of damage is not covered by private insurance, "said he.

The same applies to losses caused by the cessation of activity in areas relevant to the coast, or the cost incurred by the evacuation of hundreds of thousands of people payday loan lenders. Thus, New York, usually hectic, has been transformed this weekend into a ghost town, most shops have closed up shop and residents have been urged to stay home. But there is no damage reported, insurance should not pay a dime to compensate their members.

Insurers expected to be down

Insurance companies, however, should see their value fall Monday at the New York Stock Exchange.On Friday, insurers Allstate and Travelers had fallen to the lowest levels for two years, investors anticipate the costs incurred by the hurricane for those companies.

The amount of the invoice should still be less than initially estimated. Thus, Kinetic analysis was planned on Friday that a tornado could generate over 12 billion euros of damage if it hit New York at the height of its intensity. Finally, she was demoted to a mere tropical storm, with winds still 100 km / hour. These amounts are in any case of a different order of magnitude as the colossal damage of about $ 100 billion registered during Hurricane Katrina in 2005.

Jean-Paul Chifflet: "We have no difficulty in funding us"

LE FIGARO – Your share price has marked a record low 10 August, worse than worst days of 2009. What's going on?

Jean-Paul CHIFFLET – We are in paradox. You mention the low of the action but at the same time, the Crédit Agricole group in the first half net banking record since its inception! We are not the only ones to be attacked on the stock exchange, the whole financial sector is affected (banking and insurance) and even beyond all publicly traded securities.

So why this near-panic investors?

The world is experiencing a structural crisis that has three components: economic, financial and political. This is the first time they are collected and their entanglement makes the situation even more complex. In 2007-2008, the difficulties relating solely to the financial sphere.Today, investor concerns about the economy and growth are strong, with the feeling now that the recovery will be forthcoming in the United States. Then there are doubts about the European sovereign debt and U.S. policy of rigor to establish, particularly in Europe, and the governance of the euro area.

Given the effects of contagion, some raise the specter of a liquidity crisis for banks. Feel the French worried? The are you yourself?

No. Crédit Agricole we have not seen any concern from our customers. In all respects, including liquidity, our situation is good. Crédit Agricole is one of the banks rated by rating agencies in the world. We are the first custodian bank in France, which gives us a significant advantage in terms of liquidity.We have no difficulty in funding us.

U.S. money market funds, however, withdrew funding for European banks …

European banks, and French in particular, must adapt to this new situation. These funds will not be around for two or three months at least. But there are other sources of funding. Based on its treasuries in 25 countries, Crédit Agricole has direct access to central banks, companies or asset managers in Europe, Asia or the Middle East. Our financing program and long-term market was carried out at 90% at end-July. We also have available cash reserves of more than 120 billion euros. I am perfectly calm.

Have you been asked by the New York Fed on your cash?

No.Each controller on every continent requires banks to be mindful of their liquidity. It is a measure of attention that seems normal.

Why the French banks were they stigmatized?

French banks have been more battered by the markets than their European counterparts. The fears that we faced were related to our exposure to sovereign debt and doubts concerning reports of France. Add to this the fact that French banks capture a significant portion of funds from money market funds U.S. $ 200 billion on 800 billion allocated to European banks. This has raised specific questions about the ability of our banks to adjust.

Have you read this summer fiction of Le Monde, which envisioned a nightmare scenario for your group?

This did not please me, I did know.But I respect the freedom of the press.

How do you change the economy?

The recovery will be slow, slower than expected. But so far, we do not get a second recession.

This degradation should it encourage regulators to soften their demands on the banks?

I have only one message: we will adapt to the regulations. However, it would be nice if regulators take the time to add the impact on banks of all the new requirements, capital liquidity, through taxes and surcharges for systemic institutions. Banks are the sherpas of the economy. If their backpack is too heavy and that the oxygen is reduced, it will mechanically eventually impact on growth.It is ultimately the competitiveness of the European economy, these reforms threaten.

Are you going to trim down for credit offered?

Crédit Agricole is the main partner of the French economy. We are the largest financier in France with 471 billion euros of outstanding loans. They have always grown and we want to enroll in a sustainable way in supporting growth. But of course we will have to adapt according to the real economy and the requirements of regular lators.

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The concern again lead the CAC 40

Friday promises to be as black as the night before at the Paris Bourse. The CAC 40 was launched on the day down 0.37% to 3064.49 points. But around 9:40, the drop is accelerating: the Paris index unscrewed from 3.44% to 2970.13 points, releasing the threshold of 3000 points. London and Frankfurt lost respectively 1.10% and 1.36%. 2.19% loose Madrid, Milan were down 2.14% and 1.76% in Zurich.

Operators are struggling to recover from their emotions after the new European stock markets plummeting and U.S. Thursday. This morning, Asian stock market sent negative signals with indices in very sharp drop. This bad mood due to a surge in concern about the state of the global economy, reinforced by poor indicators of the Atlantic.Bad index measuring the Philadelphia Fed manufacturing activity in the region, lower sales of existing homes in July, new jobless claims rising again during the second week of August … All signs of the apparent stagnation of growth in the United States.

Concerns about U.S. growth fears add to the debt crisis in Europe, European banks are the first to bear the brunt. In its Thursday edition, The Wall Street Journal reported on fears the U.S. Federal Reserve on the liquidity of European banks. And for the first time since February, the European Central Bank (ECB) has given a major dollar loan to a European bank, whose identity was not revealed.An action that reinforces doubts about the ability of banks to refinance.

Morgan Stanley has added his two cents to panic, explaining that she perceived the United States and Europe as "dangerously close to recession." The President of the European Union, Herman van Rompuy, tried Thursday to calm the mind by ensuring that there was "no new recession" in sight. And this morning, Chinese Vice President Xi Jinping has reaffirmed that the U.S. economy was "resilient". In vain.

"The bears are back"

"The bears (pessimistic players, ie) are back in force that night, after disappointing U.S. economic indicators and renewed fears about the stability of European banks, which prompted investors to push the button sales," said Ben Potter, an analyst at IG Markets in Australia."There seems to be getting ready for a weekend very ugly, with a market dominated once again by fear and panic," he added.

Gold reached a new record Friday morning in Asia, to 1,837.50 dollars per ounce, due to the concern. And oil, which fell 6% in New York yesterday, continues to fall in morning trading. A barrel of "light sweet crude" for September delivery lost 1.69 dollars to 80.69 dollars while that of Brent North Sea crude for October delivery gave 68 cents to 106.31 dollars.

No significant indicator that could reverse the trend, are expected on Friday.

Values ​​to follow

The banking sector

European financial stocks, which had been rolled by a renewed tensions in the interbank market and concerns about the short-term refinancing of banks are still misguided.BNP Paribas (-3.22% to 33.11 dollars), Natixis (-2.90% to 2.81 dollars), Credit Agricole (-2.70% to 6.06 euros), Société Générale (-2, 69% to 21.02 dollars) and AXA (-0.56% to 10.28 euros) are in the red.

Danone: -1.75% to 46.05 euros

Nestlé, the group became a favorite activity for infant formula, Wyeth, Pfizer subsidiary, valued at approximately ten billion dollars (seven billion euros), officials said a source familiar with the bank.

Technip: -3.67% to 57.77 euros

The French engineering group said it had received a letter of intent on the part of the American oil company Anadarko for the construction of an offshore platform for the Gulf of Mexico.