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  1. Depuis l'éclatement de la crise du crédit l'été dernier, les épargnants ont laissé beaucoup d'argent dormir dans leur compte. Pour en lire plus...
  2. Les activités de janvier et février furent difficiles à cause du retrait de la ligne de crédit de l'entreprise. Pour en lire plus...
  3. La Banque de Montréal est exposée à hauteur de 51 G$ tandis que l'exposition de la Banque TD a été estimée à 46 G$, estime un analyste. Pour en lire plus...
  4. Bien des retraités n’y ont vu que du feu, mais la crise du crédit a nui à leur régime de retraite depuis un an. Pour en lire plus...
  5. L'ex-premier ministre Paul Martin prédit que l'actuelle crise du crédit qui ébranle les États-Unis mènera à une réforme attendue du Fonds monétaire international. Pour en lire plus...
  6. April 29, 2009 By LANDON THOMAS Jr. LONDON — Tetsuya Ishikawa reaped the fruits of London’s financial boom, structuring and selling his small share of the complex securities that fueled both his professional rise and the uninterrupted economic growth of Britain. When the boom went bust last year, he lost his job at Morgan Stanley, along with about 28,000 other Londoners working in finance. Mr. Ishikawa, who has written a fictional memoir, has no plans to return to the City, as London’s banking district is known. But Britain’s revenue-starved Labor government will find no such escape. “By 2010, the U.K. will have the largest budget deficit in the developed world,” said Richard Snook, a senior economist at the Center for Economic and Business Research in London. “The problem is that the financial services industry has been a huge cash cow for the British government for the last 10 years and now it is going into reverse.” The country’s budget deficit has soared to 12 percent of gross domestic product; its public debt burden could soon reach 80 percent of annual economic output, a figure that would leave it roughly in the same position as Greece. But at a time when Britain more than ever needs a financial sector firing on all cylinders, its economic engine is conking out — for a number of reasons, including some that critics blame on the government. All told, more than 70,000 jobs in finance are expected to disappear over the next two to three years, a big chunk of the total estimated job losses of about 280,000 in London. The British government has poured hundreds of billions of pounds into preventing several of its largest banks from falling into bankruptcy as the extent of their bad bets became evident. But there is little prospect of a revival anytime soon, as the government is about to impose stiffer demands on banks to keep high capital ratios and to rely less on leverage and once-lucrative trading activities. That, combined with a more aggressive posture by the regulatory authorities to put a check on bonuses, is likely to hasten what has already been a sharp falloff in corporate and income taxes from the City. The economic contribution from the British financial sector, according to the Office for National Statistics, peaked at 10.8 percent of G.D.P. in 2007 — up from 5.5 percent in 1996, just before Labor took over. By comparison, the contribution from financial services in the United States to the American economy never exceeded 8 percent. In a bid to capture more revenue, the British government has decided to raise tax rates on the affluent, many of them working in finance. But the new top income tax rate of 50 percent for those earning at least £150,000, or $219,000, may only make things worse, said Mr. Snook, the economist. “These people are highly mobile and they will leave London,” he said. “The impact on public finances will be negative.” Britain’s top tax rate will soon rank fourth behind those of Denmark, Sweden and the Netherlands — not quite the advertisement one would expect from one of the world’s leading financial centers. In many ways, Mr. Ishikawa’s career tracked the credit explosion that has now imploded. When he began work as a lowly credit analyst in 2002, banks in London issued about £20 billion in securities linked to various mortgage instruments. His career took off as that figure surged to over £180 billion by 2008, when Mr. Ishikawa secured for himself a $3 million bonus from Morgan Stanley as a reward for peddling assets that turned out to be toxic. With that line of business virtually defunct, banks in the coming years must return to lower-risk and lower-return businesses like equity and bond underwriting, foreign exchange trading and traditional deal-making — businesses that may well be profitable, but can in no way make up for the loss of such a lush specialty. The Center for Economic and Business Research estimates that corporate and income taxes from the financial industry will shrink from 12 percent of the overall tax take in 2007 to 8 percent this year and perhaps lower in the years ahead, a prospect that could force Britain to increase its already substantial borrowing requirement. The crisis has humbled all financial centers, from Wall Street to Dubai. According to an index produced in Britain that ranks financial centers around the world, the City of London still comes out on top, closely followed by New York. The gap, though, between these two and Singapore, which is now third, is narrowing. Lord Adair Turner, the chairman of the Financial Services Authority, agrees that London as a financial center will be in for an adjustment and says that a large portion of the banking industry’s profit contribution to the economy was “illusory.” But even in a more restrictive environment, he points out, London’s importance as a global financial hub and the most valuable trading center in Europe will not go away. “The City is important today for the same reason it was important in 1890,” he said. As for Mr. Ishikawa, who is 30 and grew up in Britain as the son of a successful Japanese executive, he is putting his hopes into a new career as a writer. His book, “How I Caused the Credit Crunch,” chronicles the debauched excesses of the boom — he was briefly married to a Brazilian lap dancer — by lightly fictionalizing his six-year stint in finance. “I really don’t miss it,” he said, sipping a coffee near the building where he was laid off. “There are many more kids out there more hungry than me.” Like Faruq Rana, for example. Mr. Rana, the 26-year-old son of Bangladeshi immigrants, was born and reared in Tower Hamlets, a district abutting Canary Wharf that has Britain’s highest unemployment rate. From his window, he can see the towers of Citigroup and Barclays reaching into the sky and his ambition to one day work as a trader in one of those buildings soars nearly as high. “Every day when I wake up and open up my window, I can smell my job,” said Mr. Rana, who is a student in a government-financed program at Tower Hamlets College that prepares local youths for jobs in the financial industry. Unlike Mr. Ishikawa, Mr. Rana did not go to Eton or Oxford, but he remains undeterred. “I have the motivation and the drive,” he said. “I think I can be one of them.”
  7. Un sondage indique que 41% des détaillants disent avoir de plus de difficulté à obtenir du crédit, les institutions de prêts ayant considérablement resserré leurs critères pour obtenir un emprunt. Pour en lire plus...
  8. La banque centrale des États-Unis a annoncé lundi qu'elle augmentait de 330 G$ US les lignes de crédit qu'elle accorde aux autres banques centrales du monde entier. Pour en lire plus...
  9. La Cour suprême du Canada a annoncé vendredi qu'elle refusait d'entendre la demande d'appel présentée par le groupe d'investisseurs qui conteste le plan de restructuration des 32 milliards $ de papier commercial adossé à des actifs (PCAA), un type de placement gelé depuis l'éclosion de la crise du crédit, il y a un an. Pour en lire plus...
  10. Publié le 19 février 2009 à 05h10 | Mis à jour à 05h10 La crise frappe, les PPP vacillent André Noël La Presse Résultat de la crise financière: les projets de partenariat public-privé (PPP) vacillent un peu partout dans le monde, les banques hésitant à consentir des prêts aux entreprises impliquées, sauf à des taux d'intérêt élevés, indique un rapport récent de la firme PriceWaterhouseCoopers. De grandes sociétés étrangères qui participent aux deux consortiums présélectionnés pour construire le Centre hospitalier de l'Université de Montréal en PPP connaissent d'ailleurs des difficultés d'accès au crédit, ce qui pourrait retarder le lancement des appels de propositions, a constaté La Presse. «Les marchés du crédit sont presque à sec», explique Richard Abadie, responsable des infrastructures chez PriceWaterhouseCoopers, une firme bien connue pour son expertise en PPP, dans un rapport intitulé Financement des infrastructures - survivre au resserrement du crédit. «Les prévisions à court terme demeurent sombres. Peu de projets (en PPP) seront conclus. Plusieurs d'entre eux ont déjà été mis sur la glace, ajoute le rapport, publié en décembre. Le crédit bancaire est simplement insuffisant, et inefficace, comme source de financement à long terme (...) Il est naïf de s'attendre à ce que les marchés reviennent aux bas taux de financement obtenus pendant le premier semestre de 2007.» Dans le mode conventionnel, les gouvernements empruntent l'argent pour construire des immeubles ou des infrastructures. Ce modèle domine toujours dans la plupart des pays. Le modèle des PPP a émergé il y a quelques années: une compagnie ou un consortium contracte les emprunts, finance la construction du bâtiment, puis le loue au gouvernement. Les partisans des PPP, comme la ministre des Finances Monique Jérôme-Forget, soutiennent que le gouvernement transfère les risques financiers à l'entreprise privé en agissant de la sorte. S'il y a un dépassement de coûts dans la construction, c'est l'entreprise qui écope et pas le gouvernement, affirment-ils. Mais avec la crise, les banques hésitent à prêter aux entreprises privées. En revanche, elles n'hésitent pas à prêter aux gouvernements. Les gouvernements obtiennent des taux d'intérêt beaucoup plus bas que les entreprises. Dans ce contexte, la construction revient beaucoup plus chère en PPP qu'en mode conventionnel. Des consortiums se sont engagés dans les PPP en faisant des emprunts à court terme, et en croyant pouvoir se refinancer à des taux d'intérêt relativement bas lorsqu'ils commenceraient à toucher les loyers. Mais aujourd'hui, ils éprouvent beaucoup de difficultés à renouveler leurs emprunts sans augmenter les paiements d'intérêt. «Ils pourraient faire face à des paiements de dette plus élevés que prévus, ou même être incapables de se refinancer», prévient le rapport de PriceWaterhouseCoopers. Le mois dernier, La Presse a révélé que la société australienne Babcock and Brown, membre du consortium Accès Santé CHUM, a vu sa situation se détériorer à un tel point que ses actions ont été suspendues en Bourse. Cette entreprise est aussi membre d'un consortium pour la construction en PPP de la salle de concert de l'Orchestre symphonique de Montréal. Ce n'est pas tout. La société espagnole Acciona, qui s'occupe elle aussi de l'ingénierie financière dans le même consortium pour le CHUM, a un taux d'endettement plutôt inquiétant. Cette firme a également emporté l'appel de propositions pour le prolongement de l'autoroute 30 en mode PPP. «Ce groupe est aujourd'hui aux abois, note le journal financier français Les Échos dans son numéro d'hier. Sous la pression de ses banques, qui s'inquiètent de son endettement, Acciona va sans doute être contraint de céder sa participation (dans un groupe énergétique).» Début février, Acciona s'est elle-même plainte que «le marché (est) complexe, avec un accès très limité au crédit». La société anglaise Innisfree, qui s'occupe de l'ingénierie financière dans le deuxième consortium présélectionné pour le CHUM, vient d'appeler le gouvernement britannique à l'aide pour sauver les PPP au Royaume-Uni, considéré comme le pays-modèle en cette matière par la ministre Jérôme-Forget. Dimanche dernier, Tim Pearson, directeur d'Innisfree et porte-parole du Forum sur les PPP en Grande-Bretagne, a indiqué que les sociétés privées avaient besoin de l'aide de l'État pour assurer le financement qui aurait dû être fourni par des prêts commerciaux. Selon lui, l'État britannique devrait consentir une aide de 4 milliards de livres pour sauver les projets en PPP. Le nombre de contrats en PPP signés en Grande-Bretagne l'année dernière est le plus bas depuis 11 ans. Un contrat pour une route de 11 milles a été signé en janvier 2009, mais la moitié du financement est assurée par une banque du secteur public. John Tizard, directeur du Centre pour les partenariats en services publics de l'Université de Birmingham, affirme que les banques n'ont plus d'argent pour les hôpitaux britanniques en PPP. Il suggère de revenir au mode de construction conventionnel qui, selon lui, se révèle moins coûteux et plus rapide à réaliser. Ici même, au Canada, le vérificateur général de l'Ontario vient de souligner que le premier hôpital construit en PPP dans la province a coûté 50 millions de plus que si le gouvernement l'avait réalisé en mode conventionnel, sans partenaire privé.
  11. Le gouvernement achètera d'ici la fin de l'année financière des blocs additionnels de prêts assurés à concurrence de 50 G$ pour faciliter la circulation du crédit. Pour en lire plus...
  12. Le crédit commence à se faire rare, ce qui fait mal à l'avionneur brésilien. En raison de la volatilité de la conjoncture financière, Embraer n'a pas voulu faire de prévisions pour 2010. Pour en lire plus...
  13. Le budget fédéral donnera à Ottawa le pouvoir d'intervenir lorsque des sociétés émettrices de cartes de crédit imposeront des augmentations de taux à leur clientèle. Pour en lire plus...
  14. Le géant américain du crédit immobilier Fannie Mae a annoncé lundi qu'il allait probablement demander 11 à 16 milliards $ d'aide au gouvernement fédéral. Pour en lire plus...
  15. Ils se sont entendus pour former un groupe ayant pour mandat d'assurer la disponibilité du crédit et du financement. Pour en lire plus...
  16. Les 3500 concessionnaires d'autos du Canada, dont les 850 du Québec, dénoncent la frilosité des banques qui leur ferment le robinet du crédit. Pour en lire plus...
  17. Le resserrement du crédit aux États-Unis frappe durement les concessionnaires de voitures dont une grande partie des ventes se fait grâce aux prêts automobiles. Pour en lire plus...
  18. Le gouverneur de la Banque du Canada, Mark Carney, demande aux institutions financières canadiennes de faire leur part pour résoudre la crise en évitant de restreindre l'accès au crédit. Pour en lire plus...
  19. Dans le tourbillon de consommation des Fêtes, l'utilisation de la carte de crédit n'est pas sans risque. Pour en lire plus...
  20. Les facilités de crédits d'urgence de la Fed pour les firmes d'investissements sont couvertes par la décision. Pour en lire plus...
  21. For decades, period architecture and pristine cobblestone streets have kept Old Montreal well trodden by tourists. But this gracious waterfront area, dating back centuries, is regaining cachet with locals, and high-end retail has followed. A western stretch of narrow Rue St. Paul, where souvenir shops once hawked Québécois kitsch, has become an unlikely hub for high fashion. Huge picture windows in restored stone buildings now showcase of-the-moment looks to rival the hippest that New York or Paris have to offer — all with an insouciant Montreal twist. — MICHAEL KAMINER Credit: Yannick Grandmont for The New York Times
  22. La firme britannique Framestore, spécialisée dans les effets spéciaux pour le cinéma et la publicité, a confirmé lundi son implantation à Montréal, ce qui devrait créer 200 emplois d'ici la fin de l'année. La première ministre Pauline Marois, en mission au Royaume-Uni, a participé à l'annonce officielle en compagnie du PDG de Framestore, William Sargent, au siège social de l'entreprise, à Londres. Le gouvernement consentira un prêt sans intérêt de 900 000 $ étalé sur cinq ans, ce qui lui coûtera environ 35 000 $ par année. En conférence de presse, Mme Marois a soutenu qu'aucun crédit d'impôt n'allait être accordé au projet, mais il en est tout autrement. Les clients de Framestore, principalement les grands studios de cinéma de Hollywood, auront droit à des avantages fiscaux pouvant représenter jusqu'à 44% de toutes les dépenses effectuées à Montréal et jusqu'à 60% en incluant le crédit d'impôt fédéral. M. Sargent a d'ailleurs expliqué que l'une des deux raisons pour lesquelles Framestore a choisi Montréal, c'est l'existence des généreux crédits d'Impôt, l'autre étant le bassin de main d'oeuvre qualifiée qu'on trouve dans la métropole québécoise. Vive concurrence Montréal était notamment en concurrence avec Toronto, Vancouver et des villes asiatiques pour obtenir le studio. À l'heure actuelle, l'industrie canadienne des effets spéciaux est concentrée à Vancouver. Québec espère que l'arrivée de Framestore à incitera d'autres entreprises du secteur à s'y établir également. Les premières productions auxquelles travailleront les artisans de Montréal, et ce dès le mois de mars, sont RoboCop (Columbia Pictures et MGM), et All You Need Is Kill (Warner Brothers), qui doivent tous deux sortir en 2014. Framestore compte trois studios à Londres, un à New York et un à Los Angeles, où travaillent environ 700 personnes. Si tout va comme prévu, le studio de Montréal sera le plus important de l'entreprise à l'extérieur de Londres d'ici la fin de l'année. Pauline Marois s'est également rendue lundi matin au Foreign & Commonwealth Office pour rencontrer le ministre délégué responsable de l'Amérique du Nord pour le Royaume-Uni, Alistair Burt. Sur l'heure du midi, elle prononcera un discours devant la Chambre de commerce Canada-Royaume-Uni auquel assistera notamment l'ancien premier ministre de Colombie-Britannique, Gordon Campbell, qui est maintenant haut-commissaire du Canada à Londres.
  23. Nouveau projet Accès condo à Lachine - Mise en vente le 12 mars 2011 120 unités, réparties sur 6 étages 1cc à partir de 139 000 $ - 13 900 $ (crédit d'achat de 10%) = 125 100 $ taxes incluses 2cc à partir de 200 000 $ - 20 000 $ (crédit d'achat 10%) = 180 000 $ taxes incluses 3cc à partir de 227 900 $ - 22 790 $ (crédit d'achat 10%) = 205 110 $ taxes incluses [/img]
  24. Bonjour à tous, Nous avons maintenant un compte instagram: mtlurb Les meilleurs photos partagées par les membres seront mis sur cette plate-forme. N'hésitez pas à communiquer votre nom de compte instagram pour que je vous donne la mention crédit de la photo
  25. Life in Montreal - Telegraph Mentor Patricia Smith says Canadians are genuinely nice people; friendly and welcoming, fond of the British and very proud of their homeland. Last Updated: 12:01am GMT 28/11/2007 Patricia Smith is willing to answer your questions about Montreal. Our mentors are volunteers and any information they provide is for information only and is not intended to be a substitute for professional advice. Click here to access the message boards terms and conditions. My family moved to Montreal in early 2000 when my husband was offered a job with a Biotech company here. I also worked in the Biotech sector in Montreal for two years but left to start my own relocation company, Home Thoughts. My company is a Destination Services company that specialises in helping Brits who are moving to Montreal to find housing and schools, showing them where to shop, helping them to get drivers licenses, finding them cleaners, doctors, dentists, child-minders etc. Basically, all the things I wish someone had helped me with when I moved here! In addition to my experience of international relocation, having worked here as well, I understand the work ethos, which is very different from that in the UK and in the US. If anyone has any questions about visiting or moving to Montreal I am more than happy to answer them. Ask questions and read the answers on the Mentor Noticeboard. Geography: Montreal is located on an island gently nestled within the St. Lawrence Seaway in Eastern Canada in the Province of Quebec. The city is dominated by a large hill in the centre, grandly called 'The Mountain' by the locals, and only slightly less grandly officially 'Mont Royal'. This beautiful parkland, with the Mansions of Westmount and Outrement cut part way up it, has a chateau at the top and a lookout from which you can see right across to the States. Looking down you can see the business center of Montreal, the McGill University campus buildings and the bridges that cross the St. Lawrence. To the north of Montreal only 45 minutes away are the Laurentian mountains with their superb ski resorts, golf courses, lakes and cottages for summer and winter. To the East an hour away, are the Eastern Townships, again with superb skiing, golf, lakes and holiday cottages. The US is 40 minutes away to the south with Boston and New York six hours drive away and one hour by air. There are several daily flights to London only 7 hours away, and to the rest of Europe. Cuisine: The French influence means that the food is great; the croissants and pastries are second only to France. It appears that everyone who has ever emigrated here also loves food because there are restaurants of every nationality serving good food to suit every budget. Eating out here is so cheap compared to the UK, the portions are large, the service is great and children are welcome everywhere. There is a lot more smoking here than in the UK so ask for a non-smoking table if that is your preference. Wine and spirits are very expensive as they are sold by a Quebec government agency, the SAQ. The wine sold in the supermarkets is more like Ribena. Beer is more reasonably priced and can be bought in supermarkets or corner shops called depanneurs. People: Canadians are genuinely nice people; friendly and welcoming, fond of the British and very proud of their homeland. It has been said that Canada is a bit boring, but this is really not the case in Quebec. The European influence, particularly that of the French, really livens things up. After Paris, Montreal is the second largest French-speaking city in the world. 69% of its three million people speak French as their mother tongue, 12% speak English and 19% don't speak either. The reality of the situation, however, is that in this tolerant, vibrant, and youthful city most of its inhabitants are functionally bilingual, often trilingual, and so coming here only speaking English is not a problem. Even if you speak perfect French you will be spotted as a visitor as the Quebecois accent is very different. I have lived here for four years and people still start speaking in English to me the minute I say 'Bonjour'. Montrealers love Brits and the shop assistants always want to chat, telling you who in their family is British, and how much they love your accent. There are also large numbers of immigrants from non-English or French cultures and there is no obvious racial tension. I suspect this is because they are not perceived scroungers or benefit seekers but just as new additions to a long line of immigrants, who are here to work hard, learn French and get on with life. Weather: Montreal has four distinct seasons. Winter is long lasting from November until the end of March. It has usually snowed by the middle of December and carries on intermittently until March. January and February are the coldest months with temperatures averaging -10ºC but on the odd day it does fall to -40ºC with the wind chill factor. -10ºC sounds cold but it isn't really provided you have the right clothes. It is a dry cold and so it doesn't penetrate through to your bones as it does in the UK. The children love the snow, which is dry and brushes off easily, and you can always appreciate the beautifully clear blue skies. Spring is very short lasting from April to the end of May, but everything grows extremely quickly and it is delightful to see the grass and flowers pushing through past the residual snow. Summer runs luxuriously through June to September and is hot and often humid. The temperature can reach the mid 30's in July and August and it is truly fantastic. Fall (Autumn) runs from October until mid-November and is beautiful with red, brown and gold colours abounding. It is a great time to travel to Vermont and the Laurentians or anywhere woody and rural. Standard of Living: Everything in Montreal is roughly half the price of that in the UK, from food and clothes to restaurants and housing, and people are not embarrassed to question prices or complain about bad service. Salaries are lower than in the UK but despite this you will still have a much better standard of living in Montreal. Healthcare: The medical system, Medicare, is very similar to the NHS with the same sorts of advantages and disadvantages. Treatment is free on demand and the doctors and nurses are generally very good but the waiting lists are often long. GP's are in short supply and you have to wait for hours in the Emergency Room (casualty). Once you arrive on a work permit or land as an immigrant you need to obtain a Medicare card to get treatment. The private health system in Quebec is very limited. You cannot pay to see a consultant or have tests performed in a public hospital more quickly but you can go to a private clinic for certain tests, particularly if you are an adult. Many health insurance schemes will pay for this. The cost of prescription medicines is borne by the patient or by the private insurance that you will have through your employer. Dental care is high quality but very expensive and not covered at all by Medicare for adults and even for children the provision is limited. Employee insurance schemes cover dental treatment but cover varies from scheme to scheme. As in the UK, adults in Quebec pay for eye check ups and children and those on welfare benefits do not. Medicare does not cover the cost of glasses or contact lenses, however, most insurance schemes cover the costs in part or completely. Glasses and contact lenses are considerably cheaper in Quebec than in the UK. Driving: If you hold a valid British Driving License you can obtain a Quebec license without taking a test. You can drive for a few months on your international license but it is best to get a Quebec license as soon as possible. You can obtain this from the SAAQ (Société de l'Assurance Automobile du Quebec). You are legally required to carry your license with you when driving as well as the insurance and registration documents for the car. The rules regarding drink-driving, the wearing of seat belts, and use of child car seats are similar to those in the UK, i.e do not drink and drive, wear seats belts at all times and make sure your child has the correct car seat for their size and age. It is relatively easy to adjust to driving on the right hand side of the road in Quebec, because the speed limits are lower than in the UK and they are, by and large, obeyed. The general consensus among expats is that drivers in Quebec are not very good. It is not that they are deliberately obstructive or aggressive; they just seem unaware of other cars, not letting you into a lane or out of a side street, pulling out suddenly and rarely indicating. There is 'no fault' insurance in Quebec. That is, if you have an accident your insurance company pays for your damage and the other parties company pays for their damage regardless of who was responsible. Any injury to your person is insured by the SAAQ. Banking: If you are just visiting banking is fine, you can use your UK cashpoint cards in the ATM's which are everywhere, not just in the banks but in cinemas, depanneurs and supermarkets. Of course, UK credit cards are accepted everywhere. The banks are open 10am until 4pm on weekdays only and have very long queues so use the ATM whenever possible. If you are planning to move here for a few years banking is more difficult. Your credit reference in the UK is no good here at all and you basically start from scratch proving your financial worthiness to be given a credit card and overdraft facility. Getting as many store cards as possible is one way to improve your credit rating.