Head of the Us Emergency Management Agency says the agency is a redeployed an assistant team. A correspondent is in los angeles and does the latest. ~. ,. , latest. We are expecting to make landfall latest. We are expecting to make landfall in latest. We are expecting to make landfall in the latest. We are expecting to make landfall in the next i latest. We are expecting to l make landfall in the next few hours in a very remotely populated part of california and mexico. Tijuana, the border city, the tourist city in mexico is certainly in the path there the hurricane to their grave concerns that can cause some serious damage there before moving north into california has a Tropical Storm and that is the unusual part of this hurricane and Tropical Storm can get to california and is expected to continue moving north as opposed to moving west which is what hurricane would generally do and then dissipate over the ocean. The likely consequences are going to be extremely heavy rain in californ
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
in spending and no new taxes. the british government is discussing plans for supermarkets to introduce a cap on the price of basic food items to help tackle the rising cost of living. now on bbc news, talking business. hello, everybody. a very warm welcome to this special edition of talking business weekly with me, aaron heslehurst. let s go and take a look at what s on the show. i m here in rabat it s the capital of morocco to look at this country s potential to solve europe s energy crisis. this north african country is making the most of its abundant sunshine and wind to lead the way in renewable energy. but the question is, can morocco turn itself around from being dependent on, well, this imported fossil fuels to being able to export clean energy to europe as we tackle climate change? it s an ambitious plan so i m going to be discussing all of that with these three experts. there they are. the big boss of one of africa s largest renewable energy companies, an ene
going to be discussing all of that with these three experts. there they are. the big boss of one of africa s largest renewable energy companies, an energy expert from the world bank, and a leading moroccan environmental campaigner. also on the show, i m going to sit down with the moroccan government minister tasked with the mighty challenge of making sure everything is in place for this country to enjoy the abundant wind and sunshine whilst transforming its economy. wherever you rejoining me from around the world, once again a big hello and a warm welcome to the show and, i tell you what, it s certainly warm here in morocco s capital of rabat. in fact, this is a country that s trying to make the most of its natural resources, including the sunshine, to solve one of the biggest problems on the planet energy. that s because everyone wants more of it and, of course, we want to play less for it. as we know, the war in ukraine has led to big increases in our energy bills at ho