Bankruptcy protection in the us under chapter 15 which governs Foreign Companies in the us, protecting them from creditors that might want to sue them. You have probably heard of chapter 11. That typically governs American Companies but it is chapter 15. According to Court Filings these negotiations are ongoing in hong kong, canaanite and British Virgin islands. We have reached out to evergrande that have not had conversation. To those who have wondered if they have ever thought of evergrande before it is chinas huge property giant. They have about 1300 projects across 280 different cities in china and they invest in everything, not just property. They have an electric vehicle maker and a football club, but as i mentioned, 2021 was when we saw the Company Default on its debts, sending shockwaves across the Global Financial system and triggering a string of defaults from builders who owed money to evergrande or expected them to complete some contracts. We have seen 40 or the companies t
As consumer spending. Brace for furloughs as the Government Shutdown looms with a lastminute deal looking unlikely. Shares of carmakers gaining again and the Auto Workers Union is dialing back its push for a 40 pay rise. That report said u. S. Stocks slightly higher in the new york session, we saw stocks rebounding and we also had to contend with technicals where we were nearing that oversold territory for the s p 500. Right now, 14 to april tip strength index around the 35 level, you could see u. S. Futures extending those gains as well. We saw the treasury selloff cooling down a little bit, the 10 year yield backbone hope 4. 6 . We have data that we were trying to digest, including consumer spending, rising at the weakest pace in about a year last quarter, not to mention comments from a couple of fed officials that took it more devilishly. We have the dollar index also falling for the first time in seven sessions and oil in the Asian Session you can see the wti up. 2 . That massive r
Car companies could dent growth in the Worlds Largest economy. Still, the us president backed the striking workers call for a 40 pay raise, telling them they deserve a lot more than they are getting. You deserve the significant raise you need, and other benefits. Get back what we lost, 0k . Its about time they step up for us. Wall street didnt build the country. The middle class built the country. Unions built the middle class. Thats a fact so lets keep going. You deserve what youve earned, and youve earned a hell of a lot more than youre getting paid now. Thank you very much. Now, the Biden Administration has also been taking aim at the us tech sector. The competition regulator, the federal trade commission, has filed a lawsuit against amazon accusing it of protecting its Market Dominance in Online Retail at the expense of consumers and third 7 party sellers. Our north American Business correspondent erin delmore has more from new york. Its a case that has been in the works for years
Robert Kiyosaki, famed investor and author of the "Rich Dad" series of personal finance books, is yet another finance personality speaking out in favor of cryptocurrency investments, along with gold.