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António Ramallo presented a new look to the employees of Novo Banco – O Jornal Económico

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Nuno Melo

Seven years, two months and 18 days after the birth of Novo Banco following the Banco Espírito Santo (BES) ruling, Antonio Ramalho launched a new image that coincides with a new phase of profitability for the bank that still has assets. problems and, as a result, losses, most of which are covered by the notional capitalization mechanism of the Dispute Resolution Fund.

For the launch of Novo Banco’s new image, the institution headed by Antonio Ramalho has reserved Campo Pequeno to gather bank employees and some guests to see the phoenix reborn: a new image. Novo Banco has gone from a “green future” that came from BES to a turquoise color, also called coral green.

“It’s time to turn this brand into a brand with content,” said the CEO, recalling that on August 3, 2014, Banco de Portugal decided to create a transition bank for the Novo Banco brand, and therefore everything had to be temporary. Antonio Ramallo emphasized that Novo Banco is no longer a white brand, but a brand of the future.

“We challenged the impossible and always incredible,” said the banker on the stage of light and music. “When we started to study the brand in 2017, 55% of our clients thought that this brand connects us to the past, 48% of wealthy clients [elevado património] believed that the brand was not trustworthy, 44% of non-customer companies thought they would never work with Novo Banco again, and some wanted to change the brand soon. There were those who even wanted to take the Best brand for themselves, but we resisted. You don’t change the brand when you actually change, ”said the executive president of Novo Banco.

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Antonio Ramalho recalled that the bank’s life since 2017 “has been difficult”. “We capitalized the bank with a contract that suddenly looked like it had no authorship; we have been studied to the smallest detail; we became the object of misunderstanding and mistrust, “said the banker, who believes that” 2636 days after the decision was made “and” 1463 days after the sale. [ao Lone Star]”.

“The brand never reckons with the past, it is more of a commitment to the future,” the CEO told his staff gathered at the Campo Pequeno arena. “It’s not just a color, it’s an identity and a scale of values,” he said.

The bank’s CEO said that “we want the partners to build close relationships.” The partnerships are at stake for Novo Banco’s management in a new strategic plan that the institution will present by the end of the year. António Ramalho called this “Partner Banking” as opposed to traditional banking.

Novo Banco’s digital team is already working to application and the site accepts a new one layout who was officially born the next Monday on the main balcony on Avenida da República.

“We are a bank that knows the cost of risk like no one else,” said the CEO, promising an effective automatic response system in this area.

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Economy

House valuations fell by three euros, and the number of orders fell in three months | Frame

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House valuations fell by three euros, and the number of orders fell in three months |  Frame

The average value of the bank’s valuation in August was 1414 euros, which is three euros less than in the previous month, which indicates a slight slowdown in the value of houses in the context of new loans. This sign is accompanied by two other signs of slowdown, one is the year-on-year growth of 15.8%, down from the 16.1% recorded in June, and the other is the number of evaluation requests that have bounced back. the fall.

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Economy

The Lightyear 0 continues to break records and become the most aerodynamic car in the world…and it’s powered by solar energy.

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The Lightyear 0 continues to break records and become the most aerodynamic car in the world...and it's powered by solar energy.

The Lightyear 0 never ceases to amaze: in tests conducted in Germany under the WLTP homologation cycle, the electric car, which can also be powered by solar energy, scored 0.175, the lowest score of any production car in history. But this is not an absolute record.

Lighter assured that the result is surprising even for engineers who expected a value of about 0.19. Ario Van der Ham, the company’s technical director, admitted: “We are very proud of this result. We started from scratch when we began to study the machine and its technologies. We’ve put a lot of effort into this.”

The Lightyear 0 managed to beat the previous record set by the 1996 GM EV1, which was 0.19. For example, the two most aerodynamic cars sold today are the Mercedes EQS and Tesla Model S, with claimed values ​​of 0.20 and 0.208, respectively.

However, if we also take concept cars into account, the Lightyear 0 is not the most aerodynamic car – the Mercedes Vision EQXX, introduced this year, scored 0.17 points, while the JCB Dieselmax, a prototype built to set the speed record in category of diesel vehicles. , it had a coefficient of 0.147.

946 examples of the electric sedan were produced, just over 5 meters long, capable of covering almost 625 km on the WLTP cycle thanks to a 60 kWh battery, a 170 hp electric motor. and solar power, which on its own, according to the Dutch manufacturer, it can travel up to 70 km a day.

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With a base price of 250 to 300 thousand euros, this model is clearly beyond the reach of any budget. However, after 0, Lightyear is already working on a more affordable entry-level model, which has a list price of around 30,000 euros and is scheduled to launch in 2026.

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Economy

Wall Street lives West Side Story and closes in the red. Yield on debt close to 4% – Stock Exchange

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Wall Street lives West Side Story and closes in the red.  Yield on debt close to 4% - Stock Exchange

Wall Street ended the day in negative territory, wiping out the brief and cautious recovery seen early in the session led by tech companies.

The global monetary tightening movement and the possibility of a recession, marked by statements by several members of the US Federal Reserve (Fed), together with the turmoil in the UK markets, sent three major US indices into the red.

The industrial Dow Jones lost 0.93% to 29,313.26 points, while the S&P 500 fell 0.88% to 3,660.76 points. The Nasdaq Composite Technology Index fell 0.47% to 10,816.59. The “sale” that was felt at the end of last week continued this Monday.

Investors digested the Bank of England’s announcement that, hours after the pound’s fall to historic lows against the dollar, it assured that it “would be hesitant in changing interest rates.”

In turn, several members of the Fed uttered the words with a “hawkish” tone. The central bank president in Boston stressed the need to continue the path of tightening monetary policy to curb inflation.

Susan Collins also warned that the process would require the loss of some jobs. Atlanta Fed Chairman Rafael Bostic also warned that the central bank still has a long way to go to control inflation.

“This is like a West Side Story remake with a gang of central bankers chasing a job market that refuses to give up,” joked Mike Bailey, director of research at FBB Capital Partners, in an interview with Bloomberg.

For an expert”[Jerome] Powell E [Andrew] Bailey’s are trying to slow down the economy, but I feel that employers are trying to keep as many workers as possible. “So we are almost dealing with a fight between central banks and employers,” he added.

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In the debt market, US 10-year bond yields rose 21.3 basis points to 3.898%, very close to the 4% threshold last hit in 2010.

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