Wall Street tumbles at the end

New eventful session Thursday on Wall Street. The indices, which have continued to increase their losses after the closing sharply down European markets fall at the close. The Dow Jones ended in a loss of 3.51% to 10,733.83 points, the Nasdaq lost 3.25% to 2455.67 points and the S & P drops 3.19% to 1129.56 points.

Like European and Asian stock markets, Wall Street is not immune to the anxiety surrounding the health of the global economy. This pessimism has been going on yesterday and pessimistic of the U.S. central bank. The Fed has held that the U.S. economic recovery was "slow" and threatened by "high risk". The central bank, in this context, announced an operation to extend the maturity of the assets it holds up to 400 billion dollars by June 2012."You can interpret this decision as the Fed's will not to launch three quantitative easing (monetary easing to boost the U.S. economy, ed) immediately, says Arnaud Poutiers, executive vice president of IG Markets.

The general concern about global growth has been reinforced by concerns about the economic situation in China. Manufacturing activity in the country has deteriorated in September, reaching its lowest level in two months, according to preliminary PMI bank HSBC said on Thursday. PMI Purchasing Managers calculated by HSBC in September reached 49.4 against 49.9 in August, knowing that a figure below 50 means contraction.

In France, the growth of private sector activity in September fell to its lowest level since the beginning of the recovery in 2009, while in Germany, the composite PMI, which includes industry and services, has emerged to 50.8, its lowest level since July 2009 against 51.3 in August.

The U.S. Treasury Secretary Timothy Geithner also said Thursday in Washington that the slow economic growth was a challenge "greater" than the debt and that the governments around the world should give priority to support growth .

On the issue of European debt disturbing fact, little progress.Greece has just announced yesterday it will launch new austerity measures to get the funding it needs Troika in October to avoid bankruptcy.

Oil tumbles 6%

The announcement of a rise in weekly jobless across the Atlantic is not reassuring. According to the U.S. Department of Labor, 423,000 people registered as unemployed during the week of September 10 to 17. The consensus of analysts expected 420,000 new applications for unemployment benefits.

The increase in the composite index of U.S. economic indicators slowed in August, which is a sign of increased risks to growth, said Friday the Conference Board.This index, which includes ten indicators supposed to give an idea of ​​the changing conditions in the United States within six months, rose 0.3% compared to July, where he won 0.6% said the institute of private economy.

On the front real estate, the price of houses increased by 0.8% in July compared to June, according to data released by the Federal Housing Finance Agency. In one year, it appears down 3.3%.

In this context, oil has lost more than 6% of its value in New York, amid sharp strengthening of the dollar, within the scope of pessimistic compiled by the Central Bank of the United States, the leading consumer of gold black.

On the currency markets, the euro is trading at 1.3476 dollar.The oil, he lost more than 6% of its value in New York, against the backdrop of a sharp strengthening of the dollar, within the scope of pessimistic compiled by the Central Bank of the United States, the leading consumer of black gold. On the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for November delivery ended at 80.51 dollars, down 5.41 dollars (6.3%) compared to the previous day.

Values ​​to follow

On the corporate side, Bank of America (-5.02% to 6.06 dollars), Wells Fargo (-2.15% to 23.17 dollars) and Citigroup (-6.23% to 23.93 dollars) suffer further degradation of their notes by Moody's. The agency that the state may fly to their rescue.

Fedex (-8.17% to 66.58 dollars) has reported an EPS according to the consensus of $ 1.46 in the first quarter, a turnover of 10.52 billion dollars.

United Technologies (-8.75% to 68.32 dollars) will buy the equipment manufacturer Goodrich Aviation (10.10% to 120.55 dollars) to $ 16.5 billion (12.2 billion euros) cash, a transaction that would be the largest acquisition of U.S. industrial giant in 10 years.

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Scholarships resist degradation of Italy

The Paris Bourse was able to bounce back despite the deterioration in the rating of Italy by Standard & Poor's and the decline in bank stocks. The CAC 40 gained 1.50% to finish the session at 2 984.05 points. Financial markets had clearly joined the decommissioning of Italy. They preferred to see the glass half full and focus on the adoption of new measures to support the U.S. central bank (Fed) on Wednesday night and real progress in the Greek case. Caution remains implementation as evidenced by the low volume of trade. Less than EUR 2.7 billion changed hands on the great values ​​of the Paris stock exchange.

Having dithered for most of the session, the other major European markets have also opted for the green in the very last lap. Frankfurt was up 2.88%, 1.98% London and Milan by 1.91%.Wall Street awaited with optimism after the Fed meeting on Wednesday night and set the tone for European stock markets. In session, the Dow Jones gained 1.11% and the Nasdaq 0.94%.

The bank attack

Paris, accused the coup briefly in mid-afternoon, after the publication of a report by the IMF lowered its growth forecasts in the world no fax payday loans. The organization has also warned against the risk of destabilizing the global financial system if the debt crisis continues to get bogged down in the euro area.

The Paris market, however retained a great excitement to the crisis of debt in the euro area and remained suspended including ongoing negotiations to prevent bankruptcy of Greece.A new conference was scheduled yesterday in the afternoon between the Greek Finance Minister Evangelos Venizelos and the "troika" of the creditors of the country, European Commission, European Central Bank and IMF. The outcome of these negotiations is crucial for the country. It conditions the payment in October of the sixth round of eight billion euros of the loan last year in the euro area country and the IMF.

In Paris, the banking sector was again manhandled. Societe Generale lost 3.08% and 6.52% BNP Paribas, Credit Agricole 2.11% however the titles sensitive to the dollar ended sharply higher, with the image of LVMH (3.64%) and EADS (3.11%).

Meeting in Greece: the Nikkei rebounds

In the wake of Wall Street, Asian stock markets have recovered what color jeudi.L all the places welcomed the determination shown by German Chancellor Angela Merkel, French President Nicolas Sarkozy and Prime Minister of Greece George Papandreou at a meeting telephone Wednesday night, to get out of Athens crise.Après have closed down the day before, and the Nikkei gained 1.48% to 8644 points at a time of closing.

Investors seem so, for now, somewhat confident about the ability of the euro area to help Athens to avoid bankruptcy the country. Wednesday night, the Franco-German and was convinced "that the place of Greece is very much in the euro area."But on one condition, also very explicit: "The implementation of strict and effective recovery program of the Greek economy supported by the countries of the euro area and the IMF and which conditions the disbursement of future tranches of the program. "George Papandreou was quick to deceive, confirming" the absolute determination of his government to take all necessary measures to implement all commitments. "

More good news, the Brics (Brazil, Russia, India, China and South Africa) announced Wednesday that they could increase their holdings of bonds denominated in euros. Thus, Brazil was prepared to participate in a "global effort" against the economic crisis that affects rich countries, said the same day the President of Brazil Dilma Rousseff.Meanwhile, Italy, whose rates have soared during bond, has denied media reports that she would have asked China to invest in debt.

Oil continues to fall

Japanese banking stocks and welcomed the ads. After being jostled by the market and Mizuho Financial Group rose 0.90% to 112 yen and Sumitomo Mitsui Financial Group 1.06% to 2094 yen.

Other Asian stock markets follow the upward trend of the Nikkei. The Hang Seng Index of Hong Kong Stock Exchange rose 0.47% to 19,134.45 points, the Kospi index in Seoul Composite climbed 1.12% to 1768.75 points. The S & P / ASX index in Sydney rose by 0.74% to 4035.40 points, the FTSE Straits Times of Singapore appears an increase of 0.56% to 2754.58 points.In contrast, the Shanghai Composite Index down 0.02% to 1484.45 points, like the BSE Sensex 30 Index of Bombay, which was down 0.39% to 16,643.70 points.

On the foreign exchange market, the euro appears down 0.16% to 1.372 dollar on Thursday. In turn, oil prices continued to decline in Asia, after figures showing a decline in demand for refined products in the United States, and while the markets remain worried about the situation in the euro zone, analysts said . In early electronic trading, a barrel of "light sweet crude" for delivery in October lost 43 cents to 88.48 dollars per barrel of Brent North Sea crude for October delivery 53 cents to 111.87 dollars.

"The deteriorating U.S. puts enormous pressure on Europe"

In the night from Friday to Saturday, S & P downgraded the rating of the United States, from "AAA" to "AA +". This historic announcement, which comes as the markets have closed a black week, plunged the financial world into the unknown. Munis Hassim, professor at the Institut d'Etudes Politiques de Paris, explains why such degradation threatens the U.S. economy, the first world power, and identifies the situation to that of Japan in the 1990s.

Is the degradation of the notes of the United States plunges us into a new crisis?

The fact that the United States lose their triple-A means that they have a slightly higher probability of defaulting. But by switching to "AA +", this probability is very low. Moreover, experts and analysts do not believe at all a failure to pay the largest economy in the world. So there is no reason to panic.However, the multiple consequences which such degradation can they prove to be very disturbing.

For example?

The fact that S & P has dared to sacrifice the American note puts enormous pressure on other countries rated AAA, particularly in Europe as the UK or even France. This announcement will fuel fears of a contagion of degradation of notes, when the markets seemed to panic this week. In Italy and Spain (already degraded) in particular, tensions are rising, although they seem to be the new target markets. Moreover, the impact on the banks direct. They will have to review their capital allocation taking into account the appearance of more risky U.S. bonds they hold, as they impose the new international regulations, to strengthen the solvency of banks (Basel III).The recent bank stress tests, whose results were given there only three weeks, have already lost all credibility because they did not include either a restructuring of the Greek debt, or a deterioration note the United States.

Why such a lowering of note can threaten the global economy?

When the debt rating of long-term decline in the U.S., this means that more may not be refunded if the creditor is. However, the markets, the risk is remunerated by interest rates: if I am less sure of being repaid, so I request a higher rate. Thus, losing the "AAA", the U.S. interest rates at 5 years, 10, 20, 30, will mechanically increase.And if rates rise, it's a downward spiral of investment and consumption that will engage, which produces more unemployment, less tax revenue and public expenditure. This government deficits widen further, and sovereign debt. But during the past two weeks very turbulent markets, the U.S. long rates remained very low. There have never been so low, a sign of investor confidence.

There is still a little time, no one imagined the United States lose their AAA. How did they get there?

The problem the U.S. is that they have more flexibility, or a monetary point of view, or budget.On the one hand, monetary policy can not be more accommodating, having pumped billions and billions of dollars of liquidity into the markets and set the interest rate floor (they are between 0% and 0.5 %) to restore the U.S. economy weighed down by the subprime crisis that has capitulated Lehman Brothers, three years ago. On the other, public spending has been poorly controlled, while the U.S. tax burden is already high. Difficult in these conditions for fiscal consolidation.

It is like in Japan twenty years ago …

Exactly, you are right in the Japanese-style scenario. The United States could enter a situation of liquidity trap in which Japan was mired in the 1990s, but never really escape. Rates were zero and sluggish growth, while prices fell, leaving Japan trapped.United States, the U.S. central bank, the Fed is now more capable of supporting the U.S. economy, which has not really recovered from the crisis, according to the latest statistics. Growth for 2011 looks less than expected, despite the monetary support giant that has been deployed. It remains to be seen whether this will result in deflation (lower prices) or if inflation will return. The best case scenario would be the second, to prevent the United States is experiencing a "lost decade" in Japan.

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New finance minister for Greece

The name was the most anticipated of the new finance minister. This will be the former Defence Minister Evangelos Venizelos, who is also Vice-Premier, announced Friday a spokesman of the Greek government.

The new finance minister succeeds George Papaconstantinou, in office since the victory of the Greek socialist party (PASOK) in the legislative elections of October 2009. Principal architect of the austerity suffered by Greece to cover its deficits, George Papaconstantinou was in the front line of the anger expressed in the street by the Greek people. Finance aside, it remains in the government team in charge of the Environment.

Curb the social crisis and negotiate with creditors

Before arriving in the team Papandreou, Evangelos Venizelos, 54, had held many ministerial posts in previous socialist governments in the mid-1990s, including the voice of the government, Minister of Justice and Minister Development. He will now have the task of curbing the financial and social crisis in Greece and negotiate with creditors.

In Defense Venizelos is replaced by a close associate of Prime Minister Georges Papandreou, Panos Beglitis.Another relative, Stavros Lambrinidis, was appointed Foreign Affairs.

Faced with conflicting pressures of creditors of the country and the street, and the refusal of the main opposition party the right to form a national unity government, the prime minister announced Wednesday he would proceed to reshuffle and he would ask in the wake of confidence in parliament. By sacrificing his finance minister, George Papandreou shade his last card. If the new team fails to resolve the crisis, keeping its own head of government will be compromised.The question is whether this game of musical chairs will be enough to calm the anger of the street.

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The rebound is confirmed by the Paris Bourse

Achieved. Shaken by the deteriorating situation in Japan's nuclear, the CAC 40 was able to reconnect with the 4000 points in mid-session, after finishing on Tuesday a net decrease of 1.54%, below the psychological threshold. On Wednesday traders try so successful ascent, in the footsteps of Asian markets. The CAC 40 advanced 0.79% to 4,008.04 shortly after midday.

Same trend in London and Frankfurt. After opening in the green, clinching the two exchanges respectively 0.97% and 0.85% in mid-day.

Markets react without panic to the new aftershock of magnitude 5.8 that struck today north-eastern Japan and shook buildings in Tokyo. In addition, they host without the excessive pessimism downward revision of economic forecasts of the archipelago by the government.In a report, it says that the earthquake, tsunami and the nuclear disaster that struck the country will impact on a "temporary" consumption and consumer confidence, exports, industrial production and employment. The triple disaster, whose total cost amounts to about $ 300 billion, will require a supplementary budget of 4000 billion yen (33 billion). "The economy, which was improving, experiencing a phase of weakness, because of the consequences of the great earthquake northeast of Japan," says the government.

Gust Statistics

In this context, progress is therefore no euphoria. Especially since many key indicators are expected to analyze both sides of the Atlantic.In France, consumer prices rose 0.8% in France in March from the previous month and one-year inflation accelerated to 2%, show statistics released Wednesday by the INSEE.

In the euro zone industrial production rose 0.4% in February compared to January, when it grew by 0.2%, according to data released Wednesday by the EU statistics office Eurostat.

In the U.S., retail sales and March business inventories for February will be at the rendezvous, like the weekly oil inventories. The Fed's Beige Book will also be particularly scrutinized for 20 hours across the Atlantic.

Side of the oil markets, time is decreasing. Concerned by the level of demand, investors pull down prices.Shortly after noon, a barrel of light sweet crude for May delivery, accounts for 0.29% 106 $ 56.

On the currency markets, the euro rises against the dollar and reappears slightly above $ 1.45.

Total in the viewfinder of S & P

As for values, Alcatel-Lucent (6.16% to 3.997 euros) recorded the largest increase in the CAC 40 to Accor (2.30% to 30.875 euros). Alcatel is supported by an increase of recommendation from Morgan Stanley to overweight value, weighting cons before.

Schneider Electric: + 0.09% to EUR 113

The group has denied this morning to be "currently" in discussions with Tyco International today.The Daily Telegraph announced Tuesday that Schneider Electric had sent a letter in which he showed his interest in an offer of $ 30 billion on Tyco International, from the perspective of giving birth to the world's leading security systems.

Areva: -0.10% to 30.89 euros

The nuclear expert said Wednesday it has won a contract for the installation of a solar thermal concentrator coupled to the coal-fired Kogan Creek, operated by CS Energy in Australia.

Total: + 0.75% to 42.255 euros

Standard and Poor's lowered the long-term credit rating of the oil group to "AA-" cons "AA" previously, with stable outlook.

Casino: -0.80% to 69.76 euros

The group confirmed on Tuesday after its goals have increased sales by 18.8% in first quarter 2011 due to changes in the portfolio in Brazil and Thailand as well as confirmation of the reorganization of Leader Price.

Credit Agricole + 0.26% to 11.73 euros

The bank president, Jean-Marie Sander, said he was confident the group's business in Japan, noting that the country's economy and its banking system remained strong despite the disaster of 11 March.The chairman of the management company of the bank's assets in Japan, Christian Romeyer said his side that the Japanese savings does not seem dramatically affected by the crisis.

Renault: + 1.52% to 38.32 euros

CEO Carlos Ghosn would not "abandon ship" when the false espionage scandal has unsettled the French group, which must now focus on implementing its strategic plan, said in an interview with Les Echos on Wednesday.

JCDecaux: + 0.26% to 23.01 euros

A group of shareholders of Affichage Holding, Geneva company 30% owned by French group, said the board of directors to court for 150 million Swiss francs (115.6 million euros) after an acquisition in Greece resulted in significant losses.

Vinci: + 1.30% to 43.35 euros

Under the contract LGV Bordeaux Tour, the group selected in March 2010 to build and operate this path, calling for several weeks an extension to the original contract of 7.2 billion, according to information of Figaro.

After market, Kaufman & Broad will release its first quarter results, Fleury Michon announce its results for the fourth quarter of 2010 and its turnover in the first quarter of 2011. Cegedim and Etam will publish their results for the fourth quarter and Camaïeu will unveil its turnover in the first quarter.

Carrefour success of the strike, the talks will resume

Unions are rather relieved. After fears Friday that their call for the strike falls flat, following the announcement last minute by the management to reopen salary negotiations, they have welcomed a widely followed mobilization Saturday. Employees hypermarket distribution group were in fact called by four unions to strike on April 9 to protest among other things against salary increases for 2011, considered insufficient. The appeal was launched in late March by the FGTA-FP, the majority union at Carrefour (with more than 45% representation), and supported by the CGT, CFDT and CGC.

In total, employees of French retail group came to mass protest around the shops in this traditional day of great crowds in hypermarkets.According to estimates by trade unions, the movement has been widely followed (50 to 85% of striking workers) in 130 of 203 hypermarkets in the group. Over thirty sites have been completely blocked, preventing access of employees supermarkets. Even when they were not completely blocked, the strike rate has varied between 30% to 85% as estimated by Dejan Terglav, general secretary of the FO-FGTA reported by AFP. "The regions have been mobilized over the North Brittany and the Centre", said the unionist. When contacted, the management of Carrefour has not confirmed those numbers, ensuring that all supermarkets remained open and were greeted customers.

Union representatives Friday morning anticipating a high rate of mobilization of employees. A rare occurrence in a group unaccustomed to large-scale social movements."Especially since the announcement of the reopening of Carrefour wage negotiations Wednesday could deter some people from coming forward. But reopening negotiations, it does not mean to succeed "insisted Dejan Terglav.

"It's a movement that looks pretty memorable," confirmed Frank Gaulin, Steward central CGT. For his part Frank Gaulin central CGT union representative called the move "memorable" and hoped that "management sees fit." Jean-Claude Mailly, secretary general of the Workers' Force (FOR), came Saturday to support the movement at the site of Le Mans, on strike for 80%. "People want a redistribution within companies.When they are unwilling to do that, there is a strike, "said union leader, also claims that" a device to make compulsory the transport allowance in all enterprises. "

Insufficient wage increase

While management offers its employees a 1% increase in wages to March 1 and another 1% increase on 1 October, union officials estimate that these proposals do not cover inflation announced by 2% instant payday loans. "I do not really represents only 1% over the year," says a leaflet distributed by the FGTA-FO, which requests that the increases are decided once a year. The promise of recovery to 10% (against 7% previously) discounts on purchases of stores, and the announcement of the reopening of negotiations next Wednesday, will not suffice to bring back the union leaders on their decision.

Indeed, beyond wages, discomfort is increasingly strong-side conditions of use and new methods of work since arriving at the head of the group of Swedish Lars Olofsson, in January 2009. In total, FGTA-FO amounted to 10,000 the number of jobs cut since 5 years, and denounced a "new business model based on night work generalized ultra simplified workflow and increased employee stress .

The union also stipulates that future negotiations with management will not only wages and, even in case of high wage increase, it will not bend on the claims concerning the improvement of working conditions.

Opposition to the plans of division

While President Nicolas Sarkozy on Thursday expressed its willingness to link salaries to dividends, the unions could ask for more support for their speeches. For the third and final major demand, workers are opposed to the division by trading in the subsidiary Dia hard discount and the 25% of the land Carrefour Property. According to unions, these purely financial transactions would bring six billion euros to the two main shareholders, Bernard Arnault and Colony Capital (14% stake and 20% of voting rights between them).

In the words of Dejan Terglav in Les Echos reported on Friday, the organization also wants the Mutual Fund Business (CIPF) 'vote against the division (at the next general meeting of June 21 ed.)CIPF owns approximately 1.33% of the shares but the double voting rights "said the union leader. Bringing to nearly 4% the number of shareholders opposed the project, with the fund Knight Vinke (more than 1% of capital). But for now insufficient to meet a third of votes needed to derail the project.

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The Cac 40 advances

In the wake of a meeting of the rise in Japan, the Paris Bourse displayed in the green Friday. The Cac 40 gained 0.48% at the opening at 4047.54 points. INSEE and Bercy have improved their outlook for the French economy.

The National Institute of Statistics noted yesterday its growth forecast for the Hexagon in the first quarter. INSEE now expects a GDP increase of 0.6% over the period, and maintained its growth forecast of 0.4% for the second quarter. More good news: the Minister of Economy said Thursday night that the forecast deficit of France for 2011 is reduced to 5.7% of GDP as against 6% previously.The FO-FGTA whose representation rate exceeds 40% was followed by the CFDT, CGT and CGC.

The quotation of the EDF and EDF EN flilière (EDF EN) is suspended Friday pending a statement Payday advance.

The Lafarge Group (+1.64%) has resumed the sale of its "cast" Lafarge Gypsum, valued at 1.5 billion euros. Private equity funds are interested in taking over the division of "plaster" of cement, but are reluctant to bid for the entire division.

Walt Disney must hold a ceremony for the foundation stone of its theme park in Shanghai. This is a group of first park in mainland China.

Expedia, the online travel company announced Thursday its intention to split into two publicly traded companies, separating its activities Expedia and TripAdvisor.

Also expected today, the traffic figures for Air France (-0.52%) for the month of March.

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Aerospace has difficulty recruiting

"2010 was a year of promise and carrier of the future," says Jean-Paul Herteman, president of the group of French Aerospace Industries Association (GIFAS) and Chairman of the Safran Group, on progress achieved in 2010 of the aerospace industry French.

This industry has made last year a turnover of 36.8 billion euros, up 3.5%. Only 5 companies have thrown in the towel on Gifas 300 members. Tricolor leading exporters, manufacturers of aerospace and space achieved a turnover of 21.8 billion export.Orders that reach 42.9 billion euros, representing four years of work.

the euro-dollar continues to disadvantage the French industrial

A few weeks before the 49th Paris Air Show which runs from June 20 to 26, the recovery that began in 2010 is confirmed as the turnover is expected to grow "significantly" more than 5% this year. "We will go for growth. Our industry is wary of deep national roots. Our research centers, our production technology are the most in France, "says Jean-Paul Herteman while reaffirming that the euro-dollar continues to disadvantage because they make French industry most of their products in euro area sell in dollars.

The sector employs 157,000 workers, has hired 8,000 people last year. Engineers, technicians and skilled workers."We expect a continuation of our employment at increasing levels," says Jean-Paul Herteman. But some manufacturers will not reap all the orders because they have trouble attracting engineers, techicien and workers. "Major groups such as Airbus, Safran, Dassault have no worries. But recruiting is not easy for SMEs and mid-cap companies, "says Jean-Paul Herteman. "I have trouble finding employees for certain highly skilled positions that require 18 to 24 months of training. We propose yet real jobs with real talent. But our business, mechanics, suffers from a poor image despite efforts to make us known in technical schools, "says Louis Le Portz, chairman of the company Pack'Aero located in Vitrolles, which employs 200 people and has 15 million euros of turnover.

Two billion euros as part of large loan

The record of employment will be tomorrow a theme to THE AGENDA Meeting of the Strategic Committee of the spinning aircraft. This body brings together industrialists, trade unions, representatives of governments, and qualified individuals will also address the relationships between major groups and SMEs and corporate finance. SMEs are struggling to find money for their growth. "I had to limit the growth of sales to 20% this year while it was possible to do 40%" shows that Louis Le Portz has recently organized a half day with financiers.

Faced with a declining military budgets, the industry that invests 3-4% of its turnover in research, will receive 2 billion euros as part of Greater borrowing 1.5 billion for aeronautics and 500 million for space. 150 million have already been granted to the space industry. 550 million will be spent on the new helicopter X4 full range of Dauphin. 120 million are planned for the engines of the future. 120-130000000 for composite structures and the same amount for avionics.

Volkswagen recalls 71,000 vehicles

Numerous vehicle recalls involve decidedly all manufacturers. In fact, Volkswagen, known for its reliability, will turn brown cars in its factories. The German manufacturer has announced yesterday the recall of 71,043 of its Jetta model family sedans, year 2011, the United States. The cars concerned are those built between March 2010 and March 2011.

Involved, the electrical system of its anti-theft alarms. Fuse responsible for protecting the burglar and converter boxes connected to the windshield and headlights are faulty. Thus, in some cases, a short circuit occurs and prevents the power headlights and windshield wipers.

Technicians are already hard at work to replace the potentially defective. But the manufacturer wishes to emphasize that, at present, no accidents were reported.

A model at a reduced price

But the recall could feed the many criticisms of this new model produced in Mexico and mainly distributed in the U.S. where it flows close to 100,000 copies a year. For some fans of the brand, the new version of the Jetta has lost many of its assets without adding new features guaranteed approval cash advance loans. In fact, to be more competitive and attract a wider audience, the Volkswagen has trimmed its U.S. equipment. The price of this new model has also been reduced.

These price declines have been decided at the height of the crisis and while the competitive market of the automobile was particularly moribund. The big players have thus been forced to trim their costs, a fact which might explain the massive recalls of vehicles from all manufacturers.In fact, the number of recalls made in recent months in the Japanese Toyota exceeds 8 million. The Chrysler has recently issued a recall on almost 250,000 vehicles. And last week, South Korea's Hyundai Motor has recalled 190,000 cars in the U.S. while the Japanese Honda was back in its 21,700 factories in the United States and Canada.

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