Be 50 bits rather than 25. 00 and just before the g. D. P. Figure was released finance minister some of them are on announce that 10 Public Sector banks would be collapse into 4 after the mergers there would be a total of 12 Public Sector banks there were as many as 27 Public Sector banks and 2017 and the sector has been dramatically undermined in recent years by a rising tide of bad loans on loss and confidence in the wake of scandalous collapse of Punjab National bank the revelations of fraud in 2018. Turning to another flood the economy argentinas move to renegotiate 101000000000. 00 in debt was briefly labeled as a selective default by the movies Rating Agency in a statement moodys cited the macro administrations failure to sell bonds to finance approaching Debt Repayment payment deadlines and said quote following the continued inability to play a short term paper with private sector Market Participants. Government unilaterally extended the maturity of all short term paper on augus
To knock the argentine peso down by about 2 percent against the dollar falling to 59. 00 against dollars. In the trade war continues to rage on as weve reported in the scuffle and spread to the auto sector now theres a new moves in the auto sector to report and pulling up to catch us up on all busy this and all things automotive is the cars coach lauren fix so lauren 1st lets get right into the tesla news this week china a ministry of industry and Information Technology said on friday that the cars all 16 models sold in china will now be exempted from a 10 percent sales tax in the ministry did not give a reason for this favorite treat men although the founder either musk has been noticeably praised in china and seems to be very committed to selling and investing in that market so is this enough to offset all of those other troubles or at least keep them afloat for a while. While i think its going to help china you have to remember that he didnt 1st announce that hes going to raise pric
Keep them afloat for a while. Well i think its going to help china you have to remember that he didnt 1st announce that hes going to raise prices on all the models its somewhere around 12000. 00 on each vehicle and he was increasing those amounts at the price point in order to compensate for that 10 percent tariff now that hes got the tariff break and hes exempt from it he has not lowered the prices so thats going to be more profit which is what they need i know hes producing as many vehicles as he can as possible shipping them into china as quickly as possible however electric vehicle sales are just not there of the demand for them wasnt what it was and the incentive from the Chinese Government is no longer in place so lets hope that he can sell some of those vehicles and they dont just sit there and lauren following up on we talk about some other sort of failures to execute with specific plans but looking at the core Marketing Strategy for the brand they have sold their cars as kind
Theyre cooking on fire. Right i mean i think the whole thing with electric vehicles the people that are buying them and those people that can afford them and so that means that were looking at. It was strictly those people that believed in not just green energy but also the fact that they had enough money and they were getting that 7500. 00 tax credit which is now gone on tesla vehicles and then of course your state credits if you can afford to buy a new car most people cant so its those wealthy people and if you look at the average buyer of a tesla they make about a quarter 1000000 dollars now that youve got other cars in that marketplace the jaguar i pace the audi eat try and see these has a car youre looking at b. M. W. All the Premium Brands are bringing in plug in the electrics as well as all electric vehicles and they are taking a piece of his market share because its who comes to market 1st choose the 1st one to show up at the country club saying ive got to bring new audi tried
Growing misuse of the currencies via money launderers, terrorist financiers and other bad players. This week representatives of the project will go to capitol hill to discuss the proposal for a crypto currency. At the Treasury Department across the u. S. Government with the International Financial community, theres been a great deal of activity recently related to the regulation and treatment of Digital Assets in crypto currency. Id like to give some brief explanatory remarks about what we have been doin been giving bt since theres lots of interest and then i will open up questions. Last month the association, a consortium of 28 businesses including a facebook subsidiary announced it is developing a crypto currency. The Treasury Department has expressed very serious concerns that libra could be misused by money launderers or terrorist financiers. Crypto currency have been exploited to support billions of dollars of Illicit Activity like cybercrime, tax evasion, extortion, ran somewhere