japanese officials say at least 48 people have died and many others are trapped beneath rubble, after a powerful earthquake. ukraine suffers another intense night of russian bombardment, leaving at least five people dead. ukraine s air defence claims 35 drones were shot down. time for a look at the business news now. tesla, the elon musk controlled car maker which pioneered mass market electric vehicles, has been relegated to second position in the global league of electric car makers. its chinese rival, byd has reported that it sold 526,000 cars in the final quarter of last year compared to 480,000 for tesla making it the world s number one electric car brand for now at least. erin delmore is in new york for us. byd said it is the biggest car brand you have never heard of in a recent advert i saw, but we are hearing more about them and other chinese electric vehicle makers who are shaking up the market. it is true. this news might shaking up the market. it is true. this
and also crypto prices higher. specifically, i think two factors actually drive these two classes. the first one is liquidity and the second one is the us dollar. now, let s talk about liquidity i think in the past few weeks we have seen actually easing from china, and also from the us, the fed has been injecting liquidity through running down its overnight repo facility. also, from a seasonality perspective, november, december tends to be actually quite favourable in terms of financial conditions. indeed, the rally in bonds or the fall of interest rates have helped also financial conditions to ease in the past few weeks. hence, we have seen a surge in liquidity in the system and that propels both gold and crypto currencies higher. the next reason is the us dollar. now, of course, both gold and crypto currencies are denominated in us dollars and when the us dollars become weaker, that is actually a tailwind for both asset classes. obviously, as we mentioned, given that the
we? , . , , we? yes, we have been in this situation we? yes, we have been in this situation and we? yes, we have been in this situation and times we? yes, we have been in this situation and times before - we? yes, we have been in this situation and times before to l situation and times before to be specific. this is the latest adjournment to be honest with you and when it comes to this whole anagram saga and we are in today isn t so different to the position we were in yesterday evergrande. the details we have out of the court, we haven t had many. what we do know is that the creditors, these foreign creditors, these foreign creditors who brought the case against evergrande, they weren t opposed to the adjournment, so that suggest that the parties are going to try and go back to the drawing board and come up with some kind of repayment plan that is credible for everybody. evergrande says that will be refined in the next five weeks but have to say about that. it is wi
has over $3 billion of liability. for more on how this could play out i have been speaking to an insolvency expert from deloitte and asked him what happens when a judge does order a liquidation. inaudible orders a company to be wound up by way of court and the company would be formally placed into liquidation but the recommendations are two petition which will go backwards. provisionally the data will be appointed by court. in the sense that it is just a prohibition and that will be a formal appointment of liquidators later inaudible what would a liquidators cease to do and correct. to do and correct. directors will seize to do and correct. directors will seize control to do and correct. directors will seize control and - to do and correct. directors will seize control and with l will seize control and with that no power inaudible and while the provisionally data will resume the powers of the directors said they can do basically all of the powers as given by court to them