E-commerce: Facebook launches the Business Suite application for SMEs

Technology: Facebook is continuing its strategy of developing e-commerce on its platforms, by designing new tools for businesses. Facebook is launching a new application for small businesses, allowing you to manage professional pages or profiles on both Facebook and Instagram.  Facebook Business Suite The tool is called "Facebook Business Suite". The platform explains that this app allows businesses to post to Facebook and Instagram at the same time, and manage and receive messages, notifications and alerts in one place. The interface will also measure engagement, visualizing the tool's metrics through an information tab on Facebook and Instagram.

"We first designed Facebook Business Suite for small businesses, but it's a long-term investment, and we hope to make it the primary interface for businesses of all sizes that use Facebook, Messenger, Instagram and WhatsApp," Facebook CEO Sheryl Sandberg said in a blog post yesterday. “Th…

Toxic loans Helvet Immo: the BNP Paribas credit subsidiary heavily condemned

Known in France under the Cetelem brand, the company has been found guilty of deceptive marketing practice. The severity of the verdict surprised all stakeholders on Wednesday. The Paris Criminal Court heavily condemned BNP Paribas Personal Finance for having marketed between 2008 and 2009 real estate loans denominated in Swiss francs but repayable in euros (called Helvet Immo). The BNP Paribas credit subsidiary was accused of having concealed from the 4,600 borrowers the risks of this loan, risks which materialized: after the crisis of 2010, the Swiss franc soared, leading to a sharp increase in remaining capital to repay.

On Wednesday, BNP Paribas Personal Finance, known in France under the Cetelem brand, was found "guilty of deceptive marketing practice" and "concealing" this offense. She was ordered to pay 187,500 euros, the maximum fine. And it will have to compensate the 2,300 borrowers who had brought a civil action, for the financial and moral damage suffered. The latter will receive between 10,000 and 20,000 euros (for those whose loan has remained in Swiss francs) for non-pecuniary damage, according to Charles Constantin-Vallet, lawyer for 1,300 civil parties and the consumer association CLCV. To this sum will be added between 40,000 and 60,000 euros (the latter amount for a loan of 150,000 euros) for financial loss. The court also awarded reimbursement of legal costs of up to 3,500 euros per borrower.

In addition, two consumer associations (UFC-Que Choisir and CLCV), civil parties, each obtained more than one million euros for the harm to the collective interest of consumers. Quite rare, the criminal court also decided to provisionally execute its decision with the "payment of damages awarded". This will force the bank to actually pay these amounts even if it decides to appeal.

The move was greeted with thunderous applause in a crowded hall on Wednesday. "The court decided to have BNP Paribas bear the foreign exchange risk suffered by the borrowers," explains Charles Constantin-Vallet. In total, the bank is expected to pay between 100 and 150 million euros to the victims. The severity of the judgment is commensurate with the gravity of the case. "

BNP Paribas, which at the trial in November refuted any illegal practice, reserved Wednesday the possibility of appealing the sentence within ten days. "The decision rendered does not appear to us to be consistent with those pronounced so far by the civil courts," explains Ludovic Malgrain, lawyer for BNP Paribas Personal Finance. We will take cognizance of the entire judgment. In recent years, 80 decisions before the civil courts and the Court of Cassation have been favorable to the bank.