System and, of course, in china as well. I think what it means also is that amongst all of the various imbalances in the economy in china right now, the Property Sector might be the weight on the economy that lasts the longest simply because it is going to be such a slow slog in terms of restructuring this debt. We have seen pictures of unfinished buildings, families and even sometimes having to squat in those buildings because they cannot afford to pay the rent and pay their mortgage on these properties. What can china do to try to boost this up . Somehow the key to this issue right now is to complete Unfinished Projects because this will at least keep some of the financing flowing. As you mentioned, many, many projects are presold and the households that buy those properties, they make Mortgage Payments even if they are not able to take delivery of the product but as construction has come to a halt, they stop making those and that means no Income Accruing to the Property Developer th
Got to have somewhere to deposit it. So the rules that were announcing also cover the ability of businesses to deposit cash in a location thats convenient to them. But convenience is a difficultjudgment. To maintain the current provision of free access to cash, for now, the new rules will state that people should have to travel no more than a mile in urban areas to withdraw or deposit cash. In rural areas, the distance has been set at three miles. Theres going to be situations where people are very reliant on Public Transport and if theres bad Public Transport in an area, then three miles might seem like a hike to the himalayas. Whats important is that this recognises that the banks have a duty to protect their customers and to make sure that those who still rely on cash, which is so many of us, continue to be able to access it. If they fail in that duty, banks could be fined by the city watchdog. But Bank Branches are closing at a rate of more than 50 a month. So, the answer may be Ba
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
there are fresh tensions over gun laws in america after 19 children and two teachers were killed in a school shooting in texas. the republican state government governor was confronted by his democratic. excuse me. sit down. you are out of line, and an embarrassment. sit down. you are doing nothing. supermodel kate moss appears in the trial ofjohnny depp and amber heard and denies thatjohnny depp pushed her down the stairs. good evening. so the long awaited final report on lockdown parties from the senior civil servant sue gray has been published. it is not simply the extra detail we now have that is both revelatory and damning but what it says about a prevailing culture that allowed such behaviour to take place multiple examples of a lack of respect and poor treatment of security and cleaning staff, even an altercation breaking out and someone being sick. sue gray squarely blames political leaders and senior officials for allowing sixteen events to go ahead in breach of
by any chance? spencer, here is a question. can tech make you a better rapper? sounds like it can, yes. and what s this? lara at a rave. yes, i m at a rave. don t say a word. i ve got bass in a backpack, this is amazing. welcome back. first up this week, we re going to be talking about drones, which gives us a perfect example to show off our shiny new base here in glasgow. which is rather picturesque. not that drones are always welcome. true. james has been checking out some of the latest tech designed to take drones out of the sky. commercial drones have the potential to revolutionise a load of industries from helping with search and rescues, mapping cities, giving information to fire crews after traffic accidents, the possibilities are endless. flying a drone can be seriously fun. there are loads of applications in the world where drones can be used for public good. however in the havoc. in december 2018, a suspected drone at gatwick grounded flights for days. flights have