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
Mexican and colombian cartels have infiltrated local gangs as they vie for lucrative drugs routes. Ecuador was hit hard by covid and theyve taken advantage of a country broken by a pandemic and by corrupt politics. The police are at pains to show me theyre fixing the problem, but when theyre having to protect themselves with sandbags in the police station, you realise this is a war without end. This used to be one of the main routes for traffickers. People would come up here with Stolen Phones and jewellery and exchange those goods for drugs up here, but the police have taken back this area. That said, the police have lost so much more control of the city of guayaquil. The bars on all the windows in this neighbourhood tell you all you need to know about the lack of security here. Angie fears for her four children. The police are powerless, she says. Just two weeks ago her neighbour was shot dead outside his daughters school. Translation all i want is security, thats the only thing that
the annual rate at which prices have been going up. inflation peaked at more than 10% last year, forcing the bank to raise interest rates aggressively to try and bring it under control. but it has since fallen sharply. and on wednesday, official figures showed it was down to 3.9% in november, the lowest rate in 2 years, and far lower than expected. that s raised hopes the bank of england will be soon able to start cutting the cost of borrowing, easing pressure on businesses and households. here s our economics editor, faisal islam. arp and now sharply down. over the past year, inflation in britain seemed like a runaway train. but it s now coming into land faster than expected. here and beyond. it has been a hard year or two for her with hundreds closing and some say prices are now stabilising. inflation is definitely killing us. the rise has gone up 15%. and behind you? us. the rise has gone up 1596. and behind you? up-and-down, i remember and behind you? up-and-down, i re
In the field, openai, has unveiled its latest chatbot called gpt lio. It has advanced capabilities, including seeing, hearing and talking in similar ways to a person. Our north America Business correspondent erin delmore watched the launch from new york. 20 years ago, the biggest Battle In Tech was over who would win the war for Search Engine dominance. Google took the prize and it isnt nowjust a multitrillion Dollar Company its also a verb. So now, enter the latest fight over who will lead on generative ai. The Start Up Openai took The Tech Sector by storm with its Chatgpt Chatbot in late 2022 that could answer users queries and carry out like human conversation. You are not a Vacuum Cleaner as of monday, we are seeing that conversation happened out loud. The company demoed a chatbot that can field questions and give out answers via voice. Ex hale slowly. In the demonstration, the chatbot was asked to help someone prepare for a presentation by taking calming breaths. That is it. How d
The main body of the plane on certain 787 dreamliner aircraft. Bonding and grounding is vital on a plane because it prevents static build up, think of it as electrical safeguards. Boeing credited a South Carolina worker who saw something they felt was wrong on the Production Line and came forward and reported it. Cutting corners at work is something that many of us may have been guilty of at various times in our lives. But given the frequency with which Quality Control issues keep coming up at boeing, the airline has a long way to go to regain the trust of the flying public, its customers, the airlines as well as lawmakers. Lets ta ke lets take you to france where the chinese president is meeting with the french president. They are in the french president. They are in the nice airport. Its like break in normal protocol, what is happening is that president Emmanuel Macron is taking the chinese president to the birthplace of his grandmother and he is doing so, his advisers say, because t