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Evergrande didn’t pay on time. ECB Says “Direct Impact” on Europe “Limited” – Observer



Evergrande didn't pay on time.  ECB Says "Direct Impact" on Europe "Limited" - Observer

A Evergrande did not make payment until this Thursday., which included the payment of interest on a bond issued in dollars. According to various sources cited by news agencies such as Reutersat least some of the holders of these bonds indicated that they did not receive any payments – this begins the 30-day count stipulated in the rules of these debt securities, after which “default“, That is, default on debt. To calm financial markets, Christine Lagarde, ECB President, arrived this Thursday to ensure that the “direct impact” on Europe of the Chinese giant will be “limited.”

“I have vivid memories of recent events in the Chinese stock market that have impacted the whole world,” but “in Europe, and in particular in the euro area, direct exposure will be limited.“, – said the person in charge in an interview with CNBC.” At the moment, we see impact and impact focused on China“, Lagarde added, while the ECB is closely monitoring the situation, given the interconnectedness of financial markets on the planet.

Despite Christine Lagarde’s assurances, the end of the week is going negative for global stock markets. The Frankfurt DAX 30 is down 0.8% and US stock futures also indicate a negative opening, although there could be other factors, such as uncertainty over the German elections this Sunday or confirmation in the US, which the Federal Reserve said system, “soon” conditions to reduce the monetary stimulus of the economy.

Group President Xu Jiayin, considered one of China’s greatest fortunes, stressed on Wednesday night that the group should “do my best to honor»Your obligations. The payout, scheduled for this Thursday, was $ 83.5 million in USD-denominated bonds. Other significant refunds will need to be made in the next few days. However, according to the current rules, if the payment is not made on time, the company will be considered unfulfilled (formally) only after 30 days.

According to the financial press in the United States, the central government has already asked regional governments to “prepare for the storm” that will lead to eventual bankruptcy. Among the risks that should be taken care of is “social instability,” that is, massive protests from victims who may lose the savings they have invested in Evergrande – be it real assets that could be depreciated, or, above all, financial instruments that were posted at Evergrande. retail trade with big money promises (up to 13%), Gucci bags and Dyson air fresheners… This is how huge cash flows, alien to banking regulation, were created, which feed the so-called Chinese “shadow bank”.

Evergrande is one of the largest debtors in the world, sitting on a mountain of loans equivalent to $ 305 billion or € 260 billion. As these debts come to maturity, they become more difficult to pay off – financial pressures are “colossal,” Evergrande admitted, blaming newspapers and the press for “negative news” that is dampening the group’s sales (and presumably limiting sales). down money supplies received in exchange for investment products that he distributes to citizens).

Evergrande. Chinese football club giant that seduced people with 13% stake and Gucci bags

But a survey conducted this week by Deutsche Bank among its institutional investor clients found on Tuesday that “only 8% of respondents believe that Evergrande could have a significant negative impact on global financial markets, with 68% expecting“ no impact or limited exposure. “

But Evergrande is a symbol of an economic model that some economists say is numbered: over-construction and astronomical debt. The company’s problems are not just its own, they are a reflection of an unbalanced development model – it is in the real estate sector in China that almost 30% of the country’s gross domestic product (GDP) is generated, and now it is the risk that activities will cease to be the engine of growth, will become a burden.

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“We continue to believe that the importance of Evergrande lies not in the fact that it could be a trigger that could trigger a systemic crisis, but rather in an alarming extrapolation that could be made to the future growth prospects of the Chinese economy with the corresponding consequences. … for global growth, ”said a group of economists at the Dutch Rabobank led by Richard McGuire.

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Everything has been delivered. 10 Bugatti Centodieci are already in the hands of the owners



Everything has been delivered.  10 Bugatti Centodieci are already in the hands of the owners

OAll Bugatti Centodieci have been delivered, the Molsheim-based brand said on Monday. Cristiano Ronaldo received the number 07 in October this year. and Bugatti has now revealed that the latest unit – #10 – is already in the possession of its owner.

“The Centodieci combines all the values ​​of the Bugatti brand in an extraordinary package: rarity, innovation, heritage, craftsmanship and unrivaled performance. The production batch of 10 units was so in demand by our customers that it was sold before the Centodieci. was even officially presented,” said Christophe Piochon, president of Bugatti.

This latest example is finished in Quartz White with carbon fiber trim on the bottom and matte grilles. The brake calipers are painted in Light Blue Sport, as is the logo on the rear that refers to the EB110, the iconic Bugatti model that inspired this Centodieci. Inside, the predominant color is also blue, as you can see in the images above.

This block is powered by the same block as the other nine instances. The 8.0-liter W16 with four turbines is capable of developing 1600 hp. In terms of performance, this allows the Centodieci to hit 100 km/h in just 2.4 seconds and reach a top speed of 380 km/h.

Recall that each unit costs the owners eight million euros before taxes.

Read also: We already know when the Bugatti Centodieci fell into the hands of Ronaldo.

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The first Dacia hybrid. “The cheapest hybrid family on the market”



The first Dacia hybrid.  "The cheapest hybrid family on the market"

BUT Dacia revealed this Monday that the hybrid engine has been available since March on the Jogger, the Romanian brand’s model known to be available with a seven-seat variant.

The Jogger Hybrid 140, Dacia’s first hybrid, will hit dealerships in March, but customers can expect and order it as early as January.

The price has been revealed by Dacia and since it’s only available in the seven-seater SL Extreme, it starts at €28,800. The brand claims it is “the most affordable hybrid family car on the market.”

Available in six existing colors to celebrate the launch of this hybrid, there will be a slate gray version, as you can see in the images above.

Equipped with a 1.6 liter four-cylinder petrol engine with 90 hp, the Jogger is also powered by two electric motors (a 50 hp engine and a high-voltage starter-generator). The total power is 140 horsepower. The electric transmission is automatic, four-speed, connected to an internal combustion engine, and two speeds are connected to an electric motor. This combined technology was possible, according to Dacia, only due to the lack of clutch.

Combined with the energy recovery levels of the 1.2kWh (230V) battery pack and the efficiency of the automatic transmission, regenerative braking delivers all-electric traction on 80% of urban journeys and saves up to 40% of fuel compared to a combustion engine vehicle.

Read also: Dual-fuel Dacia Jogger Eco-G. We tried 5 seater and LPG…

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See how Tesla tests its electric Semi truck in the worst-case scenarios



Tesla Semi camião elétrico testes

Tesla has finally been able to bring its long-awaited Semi to market. This electric truck promises to revolutionize transportation and bring all the unique characteristics of this type of electric vehicle to this class of vehicles.

Now that the first units have been delivered, there is hope that they will finally be mass-produced and reach more transport companies. With so many promises to be kept, a new video is now emerging showing Tesla testing its Semi truck under worst-case scenarios.

Tesla Semi is already on the market

Like all Tesla electric vehicles, Semi follows the same line of creating a unique design associated with a platform with the most modern technology available. The proof is in what was presented to the public and surprised most people.

To prove the quality of this new proposal, Tesla published in your LinkedIn account new video. In it, he reveals some of the testing he's done to determine the strength and quality of the Semi's design and its (potential) durability.

Tests to prove its durability

It has been revealed that the Tesla electric truck is subjected to numerous tests and its application in the worst scenarios that drivers may face. It doesn't stop at the ruggedness of the Semi's designs, but goes further and focuses on the motors and batteries themselves.

This is the proof that many have been waiting for to ensure that this new proposal is not limited to a lot of autonomy. Its resistance is great and will provide greater durability, further enhancing the Semi's value and performance.

high quality electric truck

Tesla has already showcased the Semi's quality with a video showing its truck driving roughly 500 miles on just one charge. The big news here is that he managed to make this long journey with a maximum load of about 37 tons.

Now Tesla remains to widely place the Semi on the market. At the moment, only a few companies have access to this new product, with a very long list of pending deliveries, who want to start mass-using this electric truck offering.

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