Always a pleasure to see you. This is a company that almost collapsed two years ago. Why is it filing for bankruptcy in the United States . I think it is a legal move. The Debt Restructuring Talks were already going on with hong kong, cayman islands, word has holding companies. The advantage for evergrande to file for bankruptcy in america is a gives it some protection against us creditors for the duration of that Court Process. I5 creditors for the duration of that Court Process Court Process. Is there a lot of exoosure Court Process. Is there a lot of exoosure for Court Process. Is there a lot of exposure for foreign Court Process. Is there a lot of. Exposure for Foreign Companies Court Process. Is there a lot of exposure for Foreign Companies here . I think there is a certain amount of exposure. There are enormous amounts of debts, large amounts of the offshore bonds have lost their value and i believe many of the less risk taking investors already sold their offshore bonds a couple
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
You know, an iphone sold in the us or europe might be designed in california and built in india using Semiconductors Made in taiwan from Raw Materials provided by china. So if any link in that supply chain breaks, it sets up big problems for the rest of the chain. And thats true for smartphones, as it is for pcs, and especially in Battery Production for those Electric Vehicles were buying more and more of. So what if one country decides to make it harderfor others to get hold of some of those critical Raw Materials . Well, thats what china announced just last month. Translation the Chinese Government implements i Export Controls on gallium and germanium related items in accordance with the law to ensure that they are used for legitimate purposes in order to safeguard National Security and better fulfil our international obligations. For quite some time now, the us side has been abusing Export Control measures to continuously strengthen its crackdown on chinas semiconductors and artific
Weather, possibly 15 or 16 even. To the north, chilly, the shower is a tad wintry on the tops of the scottish mountains but that milder air will move northwards again as we head towards the end of the week. We are looking at the prospect of some 16 and welcome to scotlands largest town, a stones throw from glasgow. Historically, it was a Labour Stronghold until the partys rout in scotland in 2015, when the snp had a spectacular win here. So with a general election looming, what are the preoccupations and passions of the people of paisley be It Domestic Issues or defence, education and the environment, young and old, rich and poor . Tonight, politicians and people from every major sector are gathered to debate how they, and scotland, are faring 25 years on from the opening of scotlands parliament. Good evening. Applause paisley became an economic powerhouse in the Industrial Revolution, at the forefront of the textile industry, home of the famous paisley pattern, and equally famous radi
Quality of life . I got hit and fell to the ground knocked unconscious. Happened really fast out of nowhere. Took 20 minutes to respond to the call and by that time she had already gone home. I hold the City Accountable for defunding police. 30 dead whales reported along the east coerce. This is insanity. Demanding a halt to all overshore wind development. Inexcusable, wind power. Bud light continues hurting from the Dylan Mulvaney scandal. Molson coors out selling bud light by 50 whopping . Corporate wokeism has its limits and theyre finally putting their foot down and saying enough steve good morning, everybody. Hour two of fox friends for this thursday, august 3rd. And we start with a Fox News Alert. Former president , donald trump, is expected to appear in Federal Court 4 00 this afternoon in our nations capitol. He is facing four new felonies related to january 6th and the 2020 election. Brian all right. Griff jenkins is live outside the d. C. Federal courthouse. Griff, the clock