What happened in the US while you were sleeping? Our correspondents talk to you.
Puerto Rico is officially bankrupt, reports The Wall Street Journal. The non-incorporated territory of the United States according to CNN but could cough up 628 thousand dollars to creditors – rather than the 58 million who had to pay it today.
That Puerto Rico would not meet his payment obligations, does not come as a big surprise. In late June warned Gov. Alejandro Garcia Padilla already there for the debts of the area, about $ 72 billion, and debt were not paid. Since the seventies, Puerto Rico gives all debt securities to fill holes in the budget.
The Development Bank of Puerto Rico speaks a statement expressing its “deep concern” for the liquidity of the region:
“Due to the lack of appropriated funds for this fiscal year the Entirety of the PFC payment was not made today. This was a decision That reflects the serious concerns about the Commonwealth’s liquidity in combination with the balance of obligations to our creditor and the Equally important obligations to the people of Puerto Rico to Ensure the essential services They deserve are maintained. “
While many of the debts of Puerto Rico are held by investors in the US bond market, analysts believe that the economic consequences of the bankruptcy will remain small. This market has a volume of 3.7 trillion dollars. That 72 billion debt is only a fraction of it. Still, regulators must be vigilant. In 2013 three of the four bonds to investors such as pension funds, according to The Washington Post debt from Puerto Rico.
Yahoo’s fashion
Yahoo is a startup richer. The Internet company had $ 200 million down to fashion site Polyvore, says Re / code on basis of initiates. Yahoo wants to try this more visitors to committing.
Polyvore is a visual search engine to find clothing and accessories. The nine million monthly visitors create profiles for clothes and combinations of clothing. Fashion brands pay big money to lay out their clothes on Polyvore. On the site, visitors are made to retailers like Target or Saks Fifth Avenue.
Yahoo wants to increase the number of visitors with the fashion and sales site, by connecting Polyvore of channels like Yahoo and Yahoo Style Beauty. But that should not be the priority of the purchase, writes re / code. It is, according to the tech site now time to add sales opportunities to the site so that Yahoo, that it was not always easy, the investment can pay for itself.
Google has its own car company
Carmakers attention, Google has created a car company. The Verge reports that the tech company for research are autonomous car’s has placed silently subsidiary Google Auto LLC.
The company has more than four years, but has so far remained unnoticed. The tech site suspects that the incorporation of Google cars to ensure that Google is less vulnerable to damage claims. And that is necessary, because the autonomous car’s make here and sometimes an accident with it
The revelations about Google Auto LLC to continue:. So experts can look conclude that the car’s rear-wheel drive and a 20-30 kilowatts have engine. The Verge does emphasize that the establishment of a subsidiary company says nothing about the progress of the Google car; which may be years in coming.
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