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Audi hopes to win the 2022 Dakar with its off-road hybrid

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Audi Dakar RS Q E-Tron elétrico Rally

Audi’s bet on electric vehicles is becoming more and more a reality. The brand already has the first 100% electric offerings on the market, which means that soon it will be the only way the brand will have to design and introduce new cars.

With a strong presence in motorsport, Audi wants to bring its electric revolution to this field. The next bet appears to be on SUVs, with the brand looking to be the first to win the Dakar Rally in 2022.


It looks like Audi's main bet for 2022 will be the Dakar Rally, which the brand will attack with the new RS Q E-Tron. This will be the brand's first offering to target an SUV as it is not a 100% electric vehicle, but a hybrid that will use an internal combustion engine with high performance and efficiency.

This model arose out of the need to travel long distances at every stage, without wasting time on charging the batteries. They get their load from a running engine that will run at its ideal and most efficient speed (between 4500 and 6000 rpm).

The RS Q E-Tron was built from the ground up and is not based on any of the brand's vehicles. It will be a full bet on the toughest rally of the day, which is also the most demanding for both cars and drivers.

The entire design of the RS Q E-Tron has been designed to get the most out of this platform, not just mechanically. Everything that the brand has in terms of knowledge is used in its design, in the hope that it can later be used to produce electric vehicles.

Audi Dakar RS Q E-Tron elétrico Rally

With the RS Q E-Tron ready, Audi now wants to test and prepare its first off-road proposal. As such, he hopes that his race car will be judged in several rallies in 2021 ahead of Dakar next year.

While this hybrid from Audi is not fully electric, it carries an important responsibility. The company wants to compete to win the largest rally on the planet by demonstrating that they can be a cleaner alternative while maintaining the high level of competition the event demands.

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Economy

Another crypto giant falls: BlockFi asks for protection from creditors

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Another crypto giant falls: BlockFi asks for protection from creditors

After FTX, it was the turn of crypto lending platform BlockFi to seek creditor protection under Chapter 11 insolvency law in the United States. The lawsuit was filed in a New Jersey court about a month after FTX collapsed.

The company lists more than 100,000 creditors in the documents that started the lawsuit and are cited by various international press outlets. The table features FTX’s second-largest creditor, with $275 million in debt to the platform, which until recently was led by Sam Bankman-Fried.

The list is topped by Ankura Trust, a creditor representation company, with a $729 million loan. BlockFi has already issued a red alert to the market, freezing the withdrawal of assets from the platform.

In July, FTX signed a $400 million credit line agreement with BlockFi with the option to acquire the FTX platform for up to $240 million in the event of default. This came after the collapse of the crypto market in the first half of the year was exacerbated by the collapse of the Terra USD ecosystem and brought the platform to the ground.

The risk of infection remains

The collapse of FTX is starting to infect other “players” in the market. The crisis of confidence experienced during the “collapse” of the Terra USD ecosystem has returned, and several platforms have already frozen the withdrawal of assets. In addition to BlockFi, Genesis, a platform primarily dedicated to crypto lending, has suspended asset buyback operations, citing an “abnormal number of withdrawal requests” for its decision.

Redemption requests made on the platform’s crypto-deposit arm, Genesis Global Capital, have exceeded the company’s liquidity, so the company, along with a team of advisors, is exploring a range of options to try to get back to normal, according to Acting CEO Dear Islim, Bloomberg was quoted as saying. The Gemini Trust, led by the Winklevoss twins, has also decided to freeze the withdrawal of assets from the Gemini Earn program, designed for deposits that earn interest on the “tokens” held. The company guaranteed that this decision would not affect other products or services.

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In turn, the Hong Kong-based platform AXX suspended the withdrawal of assets for ten days this Monday, reporting a lack of liquidity. “If AAX is unable to obtain funding that will allow us to resume operations, we are committed to initiating legal procedures to ensure asset allocation,” the company said in a statement quoted by Bloomberg.

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The protests in China sent Wall Street into the red. Europe falls after Lagarde speech – Markets in a minute

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European markets are in the red.  Interest on Portugal's debt hits 2.5% - Markets in a minute

Euribor climbs three, six and 12 months to new highs in nearly 14 years.

Euribor rates rose today to new highs since early 2009 in three, six and 12 months.

The six-month Euribor rate, most used in Portugal for home loans and entering positive territory on June 6, rose today to 2.436% plus 0.062 points, a new high since January 2009.

The six-month average Euribor rose from 1.596% in September to 1.997% in October.

The six-month Euribor has been negative for six years and seven months (from November 6, 2015 to June 3, 2022).

The three-month Euribor, which entered positive territory for the first time since April 2015 on July 14, also rose today, setting a new high since February 2009 at 1.954% plus 0.032 points.

The three-month Euribor was negative between 21 April 2015 and 13 July last year (seven years and two months).

The three-month average Euribor rose from 1.011% in September to 1.428% in October.

In the same sense over a 12-month period, Euribor rose today, settling at 2.892%, up 0.032 points from Friday and a new high since January 2009.

After rising to 0.005% on April 12, positive for the first time since February 5, 2016, the 12-month Euribor has been in positive territory since April 21.

The average Euribor rate for 12 months increased from 2.233% in September to 2.629% in October.

Euribor began to rise more significantly from February 4, after the European Central Bank (ECB) acknowledged that it could raise key interest rates this year due to rising inflation in the eurozone, and the trend accelerated with the onset of the Russian crisis. Invasion of Ukraine on February 24th.

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On October 27, to curb inflation, the ECB raised three key interest rates by 75 basis points, the third consecutive increase this year, after raising three interest rates by 50 basis points on July 21. growth after 11 years, and on September 8 by 75 basis points.

Changes in Euribor interest rates are closely linked to increases or decreases in ECB key interest rates.

Three-, six- and 12-month Euribor rates hit record lows respectively: -0.605% on December 14, 2021, -0.554% and -0.518% on December 20, 2021.

Euribor rates are set at the average rate at which a group of 57 eurozone banks are willing to lend money to each other in the interbank market.

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Credit Suisse loses almost a billion euros in one day – Banking and finance

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Credit Suisse CEO says employees will never return to office

Credit Suisse lost almost 1 billion Swiss francs in just one session. The market capitalization of the Zurich giant fell from 10,328.24 million Swiss francs (10,497.2 million euros at current exchange rates) to 9,369.5 million francs, down 957.85 million Swiss francs (974.42 million euros).

The bank, which is in the middle of a restructuring plan, again hit a historic low for the second consecutive session, touching 2.97 Swiss francs, meanwhile ending the day with relief, but even with a drop of 4.16% against the Swiss franc. 3.01,.

Shares have fallen for ten consecutive days, the worst losing streak since 2011, shedding 27% year-to-date (0.82%).

Credit Suisse’s stock market performance was impacted by news that its “core” business, wealth management, is losing funds and customers to competitors. In addition, the bonds were punished by the fact that the sale of guaranteed capital products to Apollo Global Management – as part of a restructuring plan – was poorly received by analysts, who criticized the lack of details about the agreement.

Also under this “strategic” plan, the bank is implementing a capital increase of 4 billion francs (4.06 billion euros), with the first operation being for institutional investors, after which the National Bank of Saudi Arabia took 9.9% of the shares. capital of the Zurich financial institution, as expected.

In addition, from this Monday until December 6, subscription rights are being negotiated for the bank’s shareholders wishing to purchase new shares in order to complete the capital increase. The bank expects to raise about 2.24 billion Swiss francs (2.27 billion euros).

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