Lyon Infocite http://lyon-infocite.org/ Tue, 09 Aug 2022 19:29:45 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://lyon-infocite.org/wp-content/uploads/2021/07/icon-2-150x150.png Lyon Infocite http://lyon-infocite.org/ 32 32 HDFC lending rate: Mortgage lender HDFC increases its lending rate by 25 basis points; home loans will become more expensive https://lyon-infocite.org/hdfc-lending-rate-mortgage-lender-hdfc-increases-its-lending-rate-by-25-basis-points-home-loans-will-become-more-expensive/ Tue, 09 Aug 2022 05:54:00 +0000 https://lyon-infocite.org/hdfc-lending-rate-mortgage-lender-hdfc-increases-its-lending-rate-by-25-basis-points-home-loans-will-become-more-expensive/ Mortgage lender Ltd announced a further hike in its benchmark lending rate by 25 basis points, making home loans more expensive for new and existing borrowers. The hike comes into effect on August 9. The current hike makes it the second this month, with the major home loan company raising the lending rate by 25 […]]]>
Mortgage lender Ltd announced a further hike in its benchmark lending rate by 25 basis points, making home loans more expensive for new and existing borrowers. The hike comes into effect on August 9.

The current hike makes it the second this month, with the major home loan company raising the lending rate by 25 basis points on August 1.

“HDFC is increasing its retail prime rate (RPLR) on home loans, on which its adjustable rate home loans (ARHL) are benchmarked, by 25 basis points, effective August 9, 2022,” the largest said. housing finance company in a statement. statement.

The move came after the RBI, in its latest monetary policy announcement, raised key interest rates by 50 basis points, taking the repo to 5.40% in its effort to rein in rising prices.

This is the sixth increase undertaken by HDFC in three months. In total, the rate has been raised by 140 basis points since May of this year.

For existing customers, rates would increase by 25 basis points or (0.25%). HDFC follows a three-month cycle to reassess its loans to existing customers. Thus, the loans will be revised in synchronization with the increase in the loan rate according to the date of the first disbursement of each client.

Financial institutions have been on an interest rate hike spree in line with RBI’s monetary tightening since May.

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Accelerated asset transfers to bad bank, IBA tells lenders https://lyon-infocite.org/accelerated-asset-transfers-to-bad-bank-iba-tells-lenders/ Mon, 08 Aug 2022 00:15:00 +0000 https://lyon-infocite.org/accelerated-asset-transfers-to-bad-bank-iba-tells-lenders/ The Association of Indian Banks (IBA) has asked lenders to intensify internal deliberations and finalize a list of major stressed assets within 15 days for onward transfer to the National Asset Reconstruction Company (NARCL). The IBA, which had spearheaded the NARCL initiative, has asked the major consortium banks to expedite deliberations on the issue of […]]]>

The Association of Indian Banks (IBA) has asked lenders to intensify internal deliberations and finalize a list of major stressed assets within 15 days for onward transfer to the National Asset Reconstruction Company (NARCL).

The IBA, which had spearheaded the NARCL initiative, has asked the major consortium banks to expedite deliberations on the issue of selling assets to NARCL at joint lenders’ forum meetings, banking sources said. to FE.

Read also | Banks raise RLLR rates

The move comes at a time when an informal deadline for the sale of significant non-performing assets (NPAs) of Rs 50,000 crore to NARCL in the first phase has seen repeated extensions – from March to June to September now. This is despite the fact that NARCL was announced in the FY22 budget and the government declared a sovereign guarantee on security receipts issued by the so-called bad bank in September last year. The guarantee is estimated to cost the Treasury Rs 30,600 crore over five years. Some bankers blamed the slowness of identifying stressed assets and resolving some procedural issues for the delay.

NARCL recently made an offer to the banks for two assets, an important step towards starting its operations. However, no asset sale has yet been completed.

Read also | IOB net up 20% to ₹392 cr on less bad loans, seeks to raise ₹1,000 cr via QIP

Lately, some banks have started finalizing the list of assets to be transferred to NARCL. The Punjab National Bank (PNB), for example, has focused on eight NPA accounts worth Rs 2,486 crore. The bad bank is expected to start operations by September, IBA Chairman and PNB MD AK Goel said recently. Indian Bank has also identified stressed assets worth Rs 2,500 crore to be transferred in two phases.

According to the plan, NARCL will acquire the bad assets by making an offer to the main bank. Once its offer is accepted, the India Debt Resolution Company, which is being set up as an asset management company under the NARCL, will manage the bad debts, value them and eventually sell them. In total, it is estimated that significant NPAs worth Rs 2 trillion will be transferred to NARCL over five years.

Loan Restructuring Process Validation Panel
Separately, the IBA has also decided to set up a panel of experts led by former Canara Bank Chairman, TN Manoharan, on top of a similar committee in each bank, as an initiative led by the industry to validate various restructuring processes for large loans above 500 crore. . Manoharan was a member of the RBI’s Expert Panel on Covid-19 Stress Resolution Framework.

PV Bharathi, former MD and CEO of the former Corporation Bank, will be the alternate chairman of the expert committee. The committee will also include Keshav Kumar, former Deputy Managing Director of State Bank of India; MR Biswal, former Executive Director of Union Bank; and Gopal Murli Bhagat, IBA Deputy Director General (Secretary Member).

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Former Money Lenders Office will now help transform Blackpool life https://lyon-infocite.org/former-money-lenders-office-will-now-help-transform-blackpool-life/ Fri, 05 Aug 2022 15:37:00 +0000 https://lyon-infocite.org/former-money-lenders-office-will-now-help-transform-blackpool-life/ The ACT Community Partnership, a community-interest enterprise offering advice, guidance and training, has obtained planning permission to open a new center on the South Shore. The premises on the corner of Waterloo Road and Bond Street previously operated as a pawnbroker and moneylender’s office, but have been empty for around five years. Documents submitted with […]]]>

The ACT Community Partnership, a community-interest enterprise offering advice, guidance and training, has obtained planning permission to open a new center on the South Shore.

The premises on the corner of Waterloo Road and Bond Street previously operated as a pawnbroker and moneylender’s office, but have been empty for around five years.

Documents submitted with the planning application indicate that the ACT center will provide services including advice on social rights and assistance to job seekers.

This former pawnbroker is ready for a new lease of life

It will work with a number of other community groups “all of whom are specialists in their respective fields and have fully trained staff to support their work who will use the center on a daily basis to deliver their services”.

Sessions will include teaching basic math, English and computer skills as well as “training to help people find jobs”, while mental health counseling will also be offered.

Five staff members are expected to be based at the centre, along with volunteer advisers and tutors if needed.

The centre’s work is supported by Counseling In The Community CIC, Blackpool Center for the Unemployed (social rights and counselling) and St Antony’s Center (community training provider).

The proposed hours of use of the premises would be 8:00 a.m. to 7:00 p.m. Sunday through Thursday and 8:00 a.m. to 10:00 p.m. Friday and Saturday.

Council planners approved the request using their delegated authority.

A report outlining the decision says: “Economically, it would create jobs for the people who run the center, but also provide opportunities to train residents to improve their own employment opportunities and increase their chances in the job market.

“Environmentally, the change of use would be a sustainable development that would bring a redundant building back into service, improve the exterior of the building, which would enhance the appearance and character of the district center.

“Socially, the development would create sustainable economic development to strengthen the local economy and meet Blackpool’s employment needs.”

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Eight of New York’s Best New Restaurants https://lyon-infocite.org/eight-of-new-yorks-best-new-restaurants/ Fri, 05 Aug 2022 13:00:00 +0000 https://lyon-infocite.org/eight-of-new-yorks-best-new-restaurants/ Le Gratin NYC, financial district Le Gratin is an introduction to the traditional and rustic bistros of the chef’s childhood (Ron Haviv) Known for his New York restaurant Daniel, London’s longtime Bar Boulud (which closed last summer) and flashy numbers in Singapore and Dubai, Daniel Boulud has now brought his magic touch to the Beekman […]]]>

Le Gratin NYC, financial district

Le Gratin is an introduction to the traditional and rustic bistros of the chef’s childhood

(Ron Haviv)

Known for his New York restaurant Daniel, London’s longtime Bar Boulud (which closed last summer) and flashy numbers in Singapore and Dubai, Daniel Boulud has now brought his magic touch to the Beekman Hotel in the city. Like the patinated golds and dark woods of his hotel house, Le Gratin is an introduction to the Lyonnais bouchons (traditional and rustic bistros) from the chef’s childhood. Named after the dish of thin slices of potato smothered in cream, it’s indulgent in all the best ways: expect a chunky terrine with pickles, steak tartare and mussels and fries. And try this piping hot gratin, based on Boulud’s mother’s recipe.

legratinnyc.com

The Bee, Tribeca

L’Abeille is one of the finest tables

(Nicole Franzen)

Opening in April L’Abeille is aimed at fine gourmets, lovers of refined presentation and lovers of French and Japanese culinary flair. There are luxury traditional French flavors to go with the name (champagne, caviar, lavender), which means “the bee”, but the love of seafood, hints of miso and seaweed and a level molecular perfectionism channel Japan – it was born in Osaka the legacy of chef Mitsunobu Nagae. Scoops of foie gras crème brûlée come in a ceramic half-egg shell, topped with a sweet onion sorbet; the lobster nuggets are earthy with mashed peas and tender morels. Desserts are light and pure in taste – a palate cleanser of strawberries, lychee, shiso and rose disappears in one bite. This is your spot for a special occasion – an eight-course tasting menu costs $185 (£150), with an additional $115 (£94) for wine pairings.

thebee.nyc

The Commerce Inn, West Village

The Commerce Inn is always full

(The Commerce Inn)

This “early American” bistro with Shaker influences is perpetually full, thanks to the previous successes of its creators with Via Carota and Buvette. Upon entering, you are greeted by an old-fashioned tavern vibe with minimalist Shaker furniture; on the menu, bone marrow on a thick, rustic bread topped with chicken of the woods mushrooms and rabbit in a jug with mulled wine and shallots. The wine list champions American producers from local areas such as the Finger Lakes region outside of Syracuse, NY. Hearty, quirky food may not be for everyone, but it’s definitely a quirky one.

thecommerceinn.com

Vinyl Steakhouse, Flatiron

Head to Vinyl for decent food and feel-good tunes

(Vinyl Steakhouse)

Lined with shelf upon shelf of neatly stacked vinyl, the Vinyl Steakhouse opening in May serves up juicy slices of beef, crabcakes and salads while spinning feel-good tunes. The hands-on couple who own it – Kevin and Sofia Flannery – will likely drop by to chat while you enjoy dry-aged Porterhouse steak, juicy crab cakes, mac and cheese and bone marrow butter corn. Cocktails are also the center of attention – browse the mezcal-based Smoke in the Rain and the olive oil-infused Martini and take your pick. For dessert, chef Alex Lord-Flynn’s cherry turnovers – from his grandmother’s recipe – are a must.

vinylsteakhouse.com

Zou Zou, Hudson Yards

A tempting platter of dips at Zou Zou

(Melissa Homm)

Zou Zou’s has “power lunch” written all over it: in addition to being in the now Hudson Yards neighborhood, it has stunning high ceilings, large windows letting in the light, and instantly pungent interiors. Globe light fixtures like giant pearl rings hang above warm terracotta banquettes; Moorish-style tiles set the stage for your table; and tendrils of greenery frame a glamorous, jade-tiled cocktail bar on one side. A female-led chef team led by Madeline Sperling conjures up lavishly presented platters of fresh dips with flame-licked flatbreads, long skewers of chicken, lamb or lobster, and tangy fattoush salads with plenty vegetable-based side dishes for people without meat.

www.zouzousnyc.com

Clover Hill, Brooklyn

Clover Hill opened in 2019 before being hit by Covid closures

(clover hill)

Although it opened in February, this isn’t Clover Hill’s first rodeo. It opened in December 2019 before being destroyed by the Covid shutdown. Intimate and welcoming with 34 tables and a worn, wood-panelled dining room, its executive chef is Eleven Madison Park alum Charlie Mitchell, who has devised a seven-course tasting menu ($135/£113) and a line relaxed for lunch. -up influenced by French cooking techniques and sumptuous ingredients – caviar, wagyu beef, red tuna. “I want it to be plentiful and delicious,” Mitchell said. Resy. “We use products you might find in two- or three-star Michelin restaurants around town, but we do it our own way in this little brick-and-mortar place in Brooklyn Heights.”

cloverhillbk.com

Holy, East Village

New York loves speakeasies, and this ‘new American diner’ has one hidden away in its basement

(Saintny.com)

New York loves speakeasy, and this “New American” has one hidden away in his basement, as well as a ridiculously romantic, ivy-wrapped secret garden behind his main dining room. Exposed brick sits alongside shimmering gold-fringed chandeliers and polished mirrors in fashionable interiors. Serving a steak-and-egg-style brunch on the weekends, its menu the rest of the week includes steak tartare, lobster gratin and huge sparkling towers of fresh seafood. DJ sets and craft cocktails until late downstairs. Oh, and the shell pink Swansong cocktail comes in a delicate swan-shaped glass – why not you?

saintny.com

Gugu Hall, Lower East Side

The Filipino-Japanese izakaya Gugu Room prepares dishes to share

(Gugu Room)

Filipino-Japanese izakaya in one of Manhattan’s hippest neighborhoods, the Gugu Room offers dishes to share. Bicker over who will get the last gravy rock prawn, piece of karage chicken and truffled mushroom sisig, or load up small or large platters of robata with a selection of sticky skewers. Sake, shochu, yuzu or even wasabi spice up a creative selection of cocktails, which you will sip in a room with russet colors and subdued lighting with a cocktail bar in the center with black and gold tiles. It’s a meaty menu with lots of organ meats (pork intestine, pig ear) – but veggies will appreciate the kare-kare tofu and puffed shishito peppers.

guguroomnyc.com

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Consumer lenders see unexpected windfall as people battle inflation https://lyon-infocite.org/consumer-lenders-see-unexpected-windfall-as-people-battle-inflation/ Thu, 04 Aug 2022 16:57:10 +0000 https://lyon-infocite.org/consumer-lenders-see-unexpected-windfall-as-people-battle-inflation/ Americans have hit record highs in the use of credit cards and unsecured personal loans as high inflation pushes up many prices and drives down the value of wages. Survey data indicates that one in three Americans who entered into an unsecured personal loan relationship did so to make up for a shortfall. Additional data […]]]>

Americans have hit record highs in the use of credit cards and unsecured personal loans as high inflation pushes up many prices and drives down the value of wages. Survey data indicates that one in three Americans who entered into an unsecured personal loan relationship did so to make up for a shortfall.

Additional data shows that a significant minority of American consumers are dipping into their savings accounts at the same time that a larger portion of Americans are adding to their savings.

Inflation has hit many people’s wallets hard and rising interest rates are causing pain, agrees Michele Raneri, vice president of US research and consulting at TransUnion. This hurt some official measures of consumer confidence. But Raneri suggests that the rate of people leaving their jobs to take up new jobs remains relatively high, and that this should be taken into account.

“The ultimate act of trust is to quit your job and change it,” Raneri says. In August 2022, the federal government indicated little change in the “quitting rate,” even as the massive number of job postings declined.

A promising credit statistic:

Personal bankruptcy filings for the first half of 2022 were down nearly 15% from the same period in 2021, according to the US Courts Administrative Office.

Many people are borrowing, some, especially Gen Zers with new credit cards, for the first time in their adult lives. The growth of unsecured credit cards and personal loans stems in part from the fact that lenders more frequently offer this type of credit to unprivileged consumers.

An additional growth factor: with the sharp rise in house prices, home equity loans, especially home equity lines of credit, are also recovering. Home equity credit was up 22% year-over-year in the first quarter (latest figures available). TransUnion says 80 million owners have workable equity — 4.5 million of them having more than $1 million in equity as of mid-2022.

Total US household debt increased by $312 billion in the second quarter of 2022, according to the Federal Reserve Bank of New York’s Quarterly Household Debt and Credit Report. The 2% increase from the first quarter brings total consumer debt to $16.15 trillion, up $2 trillion from the end of 2019, just before the pandemic hit. While delinquency rates rose for all types of consumer credit, the New York Fed said they remained at historic lows.

TransUnion called increases in severe default rates “normalization” to pre-pandemic levels, which big bank executives predicted in presentations to analysts in the first half of 2022.

What signals should lenders take from these megatrends? Raneri says everything about consumer credit indicates that banks and other lenders still have the green light to keep lending and growing their outstandings. She says the yellow lights that exist relate to macroeconomic factors like job growth – which is slowing – that set general borrowing conditions.

Read more: What Big Banks Are Saying About Inflation and Recession

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Credit card loans continue to grow

The national credit cardholder base increased by approximately 5% in the second quarter of 2022, compared to the same period in 2021. The average card debt held by borrowers increased by 9.4% from a year-over-year to $5,270. Average lines of credit on new accounts reached $5,035 in the second quarter, nearly 27% higher than the year-ago figure. This all comes from TransUnion.

To some extent, these figures reflect the impact of rising prices.

Credit card account creations were up 26% in the first quarter of 2022 compared to the first quarter of 2021. (TransUnion is tracking this data with a one-quarter lag.) But creations among Gen Z consumers have increased 31.6% during this period. Raneri says this is seen as a positive for the continued growth of credit card lending as this generation builds their credit profiles for the future. It’s also a counterpoint to the widely held idea that Gen Z are credit averse.

Balances rose 51.7% year over year among risky credit card holders, which TransUnion says is a record increase. Average credit lines for all credit tiers remained below pre-pandemic levels. However, super-premium cardholders are setting an all-time high for credit limits.

Credit card trends for the second quarter of 2022

Source: Trans Union
*Note: Arrangements are considered one quarter late to take into account the reporting lag.

Serious credit card delinquencies – more than 90 days past due – reached 1.57%, but Raneri puts that into perspective, pointing out that in the first quarter of 2010, when the economy was still in the recovery phase, this measure reached 2.68%. “It gives an idea of ​​what the magnitude could be,” Raneri says. The company sees no current serious crime anywhere near “worrying levels”.

The New York Fed report indicates that credit card balances increased by $46 billion in the second quarter of 2022 compared to the first quarter. This is a 13% increase since the second quarter of 2021 which “represents the largest in more than 20 years”. The report notes that overall balances are still slightly below the level seen before the pandemic.

The proportion of cardholders who pay their balance in full each month remained stable at 36.3%, which is near its all-time high. Revolvers, those carrying a balance, are at 40.1%, all according to the American Bankers Association Credit Card Monitor report for May 2022.

Read more:

Personal loans are growing and becoming a lifeline for some

Fintech lenders have invigorated the personal loan industry in recent years by making it a more convenient option. Today, unsecured personal loans are considered as close as your keyboard or mobile device.

The growth seen in this type of lending can be viewed in terms of a single player, LendingClub, becoming a bank following the acquisition of Radius Bank. LendingClub positions its personal loans as a way to pay off the most expensive credit cards and other debts. In the second quarter of 2022, the company held an average of $2.7 billion in unsecured personal loans, reflecting significant growth.

The sector as a whole saw strong year-over-year growth in the second quarter, according to figures from TransUnion. Total personal loan balances reached $192 billion, up 31% from a year earlier. The differences here are extreme: the outstandings of subprime borrowers have almost doubled, while the outstandings of superprime borrowers have increased by 10%.

The growth in the sheer number of personal loans is more dramatic. In the first quarter (this data is also measured in arrears by TransUnion), originations increased by 60%, with each level of credit increasing by at least 20%.

Unsecured personal loan trends for the second quarter of 2022

Source: Trans Union
*Note: Arrangements are considered one quarter late to take into account the reporting lag.

A warning from TransUnion concerns the increase in lending to subprime borrowers. The company reported that serious payment arrears – more than 60 days late for personal loans – have increased for four consecutive quarters. The 3.37% rate seen in the table below is up 47% from the second quarter of 2021. However, the company points out, this rate is still close to that seen before the pandemic — 3.14% in second quarter of 2019.

As lenders look to continue to increase personal loans, TransUnion believes there will be room to provide more loans to prime and improve risk due to the continued impact of inflation on consumer costs .

The “classic” use of personal loans today has been to consolidate debt, including credit card bills, to lower the overall interest rate. A JD Power study found that one in five consumers surveyed had applied for a personal loan in the past year. Of this number, 34% said they did so to supplement lost wages.

The company found that people under 40 cited this reason most often – 39% of this age group said they had borrowed to make up for lost income.

1 in 3 borrowers need a loan to supplement their income due to lost wages

Jennifer White, senior director, Global Banking and Payments Intelligence at JD Power, says the company’s research indicates inflation is starting to bite consumers harder. White notes that 64% of consumers are considered financially unhealthy in the company’s current research.

White says 68% of people who get personal loans say they’re not in a better financial position than before. “That, to me, is sobering,” says White.

Ever thinner savings cushion for some consumers

As stated earlier, there has been a lot of talk about consumer hoarding money, but this stash is not there for everyone. Additionally, the rise in personal loans could indicate that for some people, savings built up during the pandemic are running out or running out. MagnifyMoney, part of LendingTree, looked at savings rates.

Savings changes added money to savings and took money out of savings mid-2022

In June 2022, 42% of consumers surveyed said they had topped up their savings account. The company pointed out that this is the second lowest percentage of net savers seen so far for the year.

“Consumers are starting to withdraw money from their savings more frequently,” says MagnifyMoney. “In July, 17% of Americans say they withdrew funds from their savings, the highest rate since December 2021.”

Meanwhile, the report found that “more Americans are saving for emergencies compared to last summer, suggesting consumers take the possibility of a recession seriously.” 31% say they save for emergencies, up from 25% in July 2021.

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Green lender Tandem Bank joins Raisin’s UK savings account panel https://lyon-infocite.org/green-lender-tandem-bank-joins-raisins-uk-savings-account-panel/ Mon, 01 Aug 2022 08:57:09 +0000 https://lyon-infocite.org/green-lender-tandem-bank-joins-raisins-uk-savings-account-panel/ Alternative loansSavings and investment The bank aims to tap into a more diverse source of deposits through Raisin. Image source: Susie Aliker (right)/CEO of Tandem Bank. Tandem Bank is looking to diversify its deposit collection channels through a partnership with savings market Raisin UK. The tie-up will see Tandem’s fixed-term and instant-access savings accounts listed […]]]>
Alternative loansSavings and investment

The bank aims to tap into a more diverse source of deposits through Raisin.

Image source: Susie Aliker (right)/CEO of Tandem Bank.

Tandem Bank is looking to diversify its deposit collection channels through a partnership with savings market Raisin UK.

The tie-up will see Tandem’s fixed-term and instant-access savings accounts listed on Raisin, but the bank says it hopes to list more products on Raisin in the future.

Raisin’s distribution partnerships also mean that Tandem’s products will end up on Aviva’s Save platform and AJ Bell’s Youinvest hub.

“With the cost of living crisis, Britons are understandably keen to seek out the best rates for their hard-earned money, and they now have the choice of coming directly to Tandem or accessing Tandem’s savings products through the Raisin market,” said Ben Mitchell, director of savings at Tandem Bank.

Tandem is in the midst of a transformation from credit card provider to green lender, with the acquisition of green real estate lender Allium and consumer lender Oplo.

The bank will launch Raisin with rates including a one-year fixed rate at 2.75% and a five-year fixed rate at 3.15%.

“Many of our savers are looking for a savings provider that is committed to providing fairer and greener financial choices complemented by a great online experience and Tandem is a perfect fit,” said Kevin Mountford, co-founder of Raisin UK.

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Fire in Gironde: The forest fire in La Teste-de-Buch is “fixed” https://lyon-infocite.org/fire-in-gironde-the-forest-fire-in-la-teste-de-buch-is-fixed/ Sat, 23 Jul 2022 16:03:03 +0000 https://lyon-infocite.org/fire-in-gironde-the-forest-fire-in-la-teste-de-buch-is-fixed/ Thanks to more favorable weather, firefighters managed to put out the La Teste-de-Buch fire in southwestern France after eleven days of fierce battles against the flames. However, the area remains under close surveillance and significant resources are mobilized according to the provinces. It is a relief for firefighters and residents of the sector: the fire […]]]>

Thanks to more favorable weather, firefighters managed to put out the La Teste-de-Buch fire in southwestern France after eleven days of fierce battles against the flames. However, the area remains under close surveillance and significant resources are mobilized according to the provinces.

It is a relief for firefighters and residents of the sector: the fire which has ravaged 7,000 hectares of forest since July 12 in La Teste-de-Buch in the Bassin d’Arcachon is “now repaired”, said Saturday July 23. The province of Gironde, unlike the other major Girondin fires declared on July 12, near Landiras (south), which no longer take place.

After eleven days of fighting the flames, preventively “all the evacuated inhabitants” in this town are now “authorized to return to their homes with the support of the national police”, added the prefecture in a press release.

In total, these “megafires” have consumed around 21,000 hectares of forest in Gironde since July 12 and forced more than 36,000 residents or holidaymakers to evacuate their habitats, including 6,000 holidaymakers to the very touristy Dune du. Pilate was evacuated from the camps, which were later destroyed. Flames.

Officials said there were no casualties in the fire.

In Landiras, about forty kilometers south of Bordeaux, the fire which burns 13,800 hectares of forest is “not yet under control”, “because of the risk of recovery”, specifies the prefecture. This fire is still considered “under control”.

>> WATCH: FIRE IN FRANCE: “WE ARE VERY VERY VERY VERY HIGH”

According to the press release, “about thirty houses are active, with civil engineering work continuing to monitor this mass, treat the edges and restart the fire”.

“The situation continues to improve,” said the prefecture.

Two Canadians and two forest firefighting helicopters were mobilized, while 1,300 firefighters were still hard at work on Friday on the two sites, even if now “columns of extra-territorial firefighters are slowly returning to their service” .

According to firefighters, a fire is “fixed” when they feel it will not continue. It is then “controlled”, then “extinguished” then “monitored”.

According to the Gironde prefecture Fabien Buccio, who said Friday evening these two fires “extinguished, it will be another matter, it will take time”.

“Preparing for the end of the crisis”

While all evacuees from the La Teste-de-Buch area can now return home, which some people were authorized to do by the prefecture on Thursday, that a third of the 16,000 people evacuated from the communes of the Landiras Sector Un little less for now the green the return signal has not been given.

But “the authorities continue to study the possibilities of (their) reinvestment region by region”, assured the prefecture.

Saturday afternoon, the inhabitants of four municipalities in the sector – Le Tuzan, Balizac, Saint-Léger-de-Balson and Saint-Symphorion (except five municipalities) – were able to reopen their shutters. In the morning, he belonged to Cazaux, a town in La Teste-de Buch, evacuated on July 14, who have already been able to return to their homes.

The prefecture has again authorized pleasure boating on the western shore of Lake Cazaux-Sanguinette and the southern pass at the entrance to the Arcachon basin.

The prefect should bring together elected officials and economic players from the two affected regions on Monday to “prepare for the end of the crisis on the economic level”.

>> TO SEE: Fire in Gironde: Tourist theft suffered, the Bassin d’Archonne wants to save its season

The Nouvelle-Aquitaine Regional Health Agency said on Friday that after preliminary data reports, “the health impact of the fires on the general population appears to be very moderate”. She says she is cautious because the data analyzed does not include the liberal medical field which may have been solicited.

The smoke from a “megafire” in Gironde was felt on Tuesday in part of France, especially in Paris, affecting air quality.

Faced with the scale of the crisis and the start of a dispute over the means of fighting fires in France, President Emmanuel Macron went to Gironde on Wednesday, where he insisted that France adopt ” more” firefighting aircraft. will have to do

According to the President of the Republic, 22 civil defense aircraft “have been enough in recent years. (…) Do we need more? The answer is yes”.

AFP. with

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Dealer loses lawsuit against lender over online accusation https://lyon-infocite.org/dealer-loses-lawsuit-against-lender-over-online-accusation/ Fri, 22 Jul 2022 18:09:00 +0000 https://lyon-infocite.org/dealer-loses-lawsuit-against-lender-over-online-accusation/ By Silvia Martelli (July 22, 2022, 7:09 p.m. BST) – A London court has quashed the trial of a Scottish car dealer accusing a financial services firm and carmakers Renault and Nissan of destroying its business, ruling on Friday that the dealer didn’t have a solid case. Simon Gleeson, sitting as Deputy High Court Judge, […]]]>
By Silvia Martelli (July 22, 2022, 7:09 p.m. BST) – A London court has quashed the trial of a Scottish car dealer accusing a financial services firm and carmakers Renault and Nissan of destroying its business, ruling on Friday that the dealer didn’t have a solid case.

Simon Gleeson, sitting as Deputy High Court Judge, said the claim by Mackie Motors (Brechin) Ltd. must be struck out because it “discloses no cause of action”.

“The facts as alleged are entirely insufficient to allow the court to draw the conclusions of law that would be necessary for the plaintiff to succeed,” the judge said.

Mackie had accused RCI Financial Services Ltd. to have terminated their…

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BREAKING: GOP Senate candidate Ted Budd sided with payday lenders as he took their PAC donations https://lyon-infocite.org/breaking-gop-senate-candidate-ted-budd-sided-with-payday-lenders-as-he-took-their-pac-donations/ Fri, 22 Jul 2022 17:36:47 +0000 https://lyon-infocite.org/breaking-gop-senate-candidate-ted-budd-sided-with-payday-lenders-as-he-took-their-pac-donations/ A new report released today reveals that Ted Budd “repeatedly sided with payday lendersand in return they “repeatedly filled his campaign coffers.” Despite North Carolina’s ban on payday loans, Budd has always voted for legislation that supports predatory lenders and their “exploitation tactics.” In May 2017, Budd even received industry donations”a few days after a […]]]>

A new report released today reveals that Ted Budd “repeatedly sided with payday lendersand in return they “repeatedly filled his campaign coffers.” Despite North Carolina’s ban on payday loans, Budd has always voted for legislation that supports predatory lenders and their “exploitation tactics.” In May 2017, Budd even received industry donations”a few days after a key votethat would allow payday lenders to charge consumers higher interest rates.

Learn more about Budd’shistory of siding with his donors over his North Carolina constituents.”

American Independent: GOP Senate candidate Ted Budd sided with payday lenders as he takes their PAC donations

  • North Carolina Republican Senate candidate Ted Budd has always sided predatory lenders and the payday loan industry, even though payday loans are banned in his state. The industry rewarded him with thousands of dollars in campaign contributions.
  • He has consistently supported lenders who prey on low-income people using abusive repayment terms and exploitative tactics, practices that have been illegal in North Carolina for more than 20 years.
  • In March 2018, Budd signed as co-sponsor of an effort to repeal a Consumer Financial Protection Bureau rule cracking down on paydays, car title and other high-cost loans.
  • In July 2020 and again in February 2021Budd introduced a “Freedom to Regulate Act” that would have placed limits on the actions of independent agencies, including the Consumer Financial Protection Bureau.
  • As Budd repeatedly sided with the payday lenders, the payday lenders repeatedly filled his campaign coffers.
  • He received at least $2,500 of the Community Financial Services Association of America PAC, the political arm of the payday loan industry trade association.
  • Funding for Budd’s June 2022 campaign report noted thousands of dollars in PAC contributions from payday loan companies.
  • Some of the industry donations he received came days after a key vote.
  • On May 4, 2017, Budd vote to advance the Financial Choice Act of 2017 off the House Financial Services Committee. The package, which was primarily aimed at to move back the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Actincluded a section determining that the Consumer Financial Protection Bureau “cannot exercise any regulatory, enforcement, or other authority with respect to payday loans, vehicle title loans, or other similar loans.”
  • Several financial company executives donated to Budd that month, including at least one payday lender.
  • On May 31, he receives $1,000 from Scott Wisniewski, CEO of Western Shamrock Corporation, who offers payday advance loans and has been called “predatory lenderby the advocacy group Texans for Public Justice.

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Beware of these images that convey conspiracy theories about wildfires https://lyon-infocite.org/beware-of-these-images-that-convey-conspiracy-theories-about-wildfires/ Fri, 22 Jul 2022 10:57:26 +0000 https://lyon-infocite.org/beware-of-these-images-that-convey-conspiracy-theories-about-wildfires/ Since early July, fires have been ravaging forests, particularly in France, Spain, Portugal and Morocco. On social networks, accounts claim, with supporting images, that the fires were intentionally caused by planes and helicopters belonging to the military or firefighters. These images were actually taken out of context and shared to relay conspiracy theories. Brief verification […]]]>

Since early July, fires have been ravaging forests, particularly in France, Spain, Portugal and Morocco. On social networks, accounts claim, with supporting images, that the fires were intentionally caused by planes and helicopters belonging to the military or firefighters. These images were actually taken out of context and shared to relay conspiracy theories.

Brief verification

  • Since July 10, multiple Twitter accounts have shared footage to show governments deliberately using planes equipped with laser technology to start fires. These images actually show a military aircraft project initiated by the American army in 1992, but which ultimately never saw the light of day and was definitively abandoned in 2012. As for the “laser beam” that we see on these images, it is an optical effect. Due to cleaning the camera lens.
  • Other accounts have shared images since July 18 showing that gunfire helicopters are believed to be the source of the wildfires. These videos have been taken out of context, they show helicopters using “prescribed burning” techniques, intended to put out the fire.

check the details

In the French region of Gironde alone, the fire that broke out on July 12 burned more than 20,000 hectares of forest in one week. Since then, social media users have been sharing impressive images of these wildfires. But between these accounts, some of the images broadcast were taken out of context, fueling conspiracy theories.

A prototype aircraft destroyed in 2012

“They blame heat waves and global warming, but they start these wildfires themselves using energy weaponized aircraft.” Several testimonies express this conspiracy theory, such as this tweet published on July 11: The fires in progress in France, Portugal or Morocco could have been started by military planes.

Here is a screenshot of a tweet posted on July 11, 2022, falsely claiming that wildfires would be started by military aircraft. © Audience

What do these thousands of shared photos really show? To find out, we did a reverse image search (see how here). This research makes it possible to precisely trace the origin of these photographs of aircraft, for example on this online image bank. And his caption says he was taken to an airport in the West Range, the west coast of the United States, in 2006.

Screenshot of a photograph of a Boeing YAL-1 available on the Flickr online image bank from January 28, 2015.
Screenshot of a photograph of a Boeing YAL-1 available on the Flickr online image bank from January 28, 2015. © Audience

But this plane has nothing to do with a possible fire in the forest. This is the Boeing YAL-1, a prototype developed by the US military from 1992 to 2012 in collaboration with Boeing, Northrop Grumman and Lockheed Martin. The story of this aircraft is told on the Boeing website, but also by specialist aviation media such as Simple Flying.

Designed to intercept missiles using a laser mounted on the front of the plane, this modified Boeing 747 has made several test flights, including on February 12, 2010, as the news agency explains. Reuters. But after the first successful tests, the Boeing YAL-1 failed several missile interception exercises during the months of September and October 2010. Following these failures and the high costs related to the development of this technology, the project was definitively canceled . In 2012, the Boeing YAL-1 was finally moved to the US Army Aircraft Graveyard near the town of Prima, Arizona, where it was destroyed. This plane therefore has nothing to do with the ongoing fire in many countries.

The photograph showing a laser launched by such an aircraft was also taken out of context. This photo has been circulating on social media since at least 2018 and has already been verified by Mick West, an American journalist specializing in fact-checking. In a video posted on August 21, 2018, he explains that what appears to be a beam is actually an optical effect of cleaning the camera lens. In fact, improperly cleaning the lens can leave marks that refract the light picked up by the camera, creating a beam of light like a windshield in the rain.

Screengrab from a demo video posted on Mick West's YouTube channel on August 21, 2018.
Screengrab from a demo video posted on Mick West’s YouTube channel on August 21, 2018. © Audience

The theory that forest fires are caused by laser weapons, known as the “DEW theory” for “directed energy weapon”, is not new. Contacted, Mick West explains that he “emerged in the early 2000s, and especially after the attacks of September 11, 2001. Some conspirators then wrongly claimed that the collapse of the twin towers had been caused by laser weapons. was, and the same principle was later applied to forest fires.

incendiary helicopters or firefighting technology,

On social networks, another video, in which we see helicopters throwing flames in forests, is also shared with conspiracy accounts. According to these publications, these images will prove that forest fires are intentionally started by firefighters armed with helicopters to start fires. In fact, this video was pirated.

Screenshot of a tweet posted here on June 19, 2022, circulating this video out of context.
Screenshot of a tweet posted here on June 19, 2022, circulating this video out of context. © Audience

To verify this, we performed a reverse image search from this video, which has been viewed nearly 50,000 times. This research refers in particular to an article published by Agence France Presse on August 26, 2019, when the Amazon was devastated by a fire. The article pointed out that the video, then released by users, claiming that the Brazilian government was using incendiary helicopters to set fire to the Amazon rainforest, was a hoax.

Our colleagues from Agence France Presse had traced the origin of these images: they were shot in August 2018 by Canadian firefighters fighting a fire in British Columbia. Crucially, they don’t feature incendiary helicopters, but use a firefighting technique known as “guided burning” or “tactical fire.” Directly, thanks to helicopters equipped with flamethrowers and incendiary pellets, or through ground patrols, the firefighters, here Canadians, set fire to areas of vegetation to stop the progression of the fire or its possible start upstream of this one. destroy by.

If you want to learn more about verifying images, be sure to check out our guide, available here.

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