record Archive

  • The Bugatti Chiron—a $3 million, 1,500-horsepower luxury spaceship on wheels that makes us go weak in the knees—just set the world record for going from 0-400 kph (or 249 mph) and then back to zero again. Former F1, IndyCar, and NASCAR ace Juan Pablo Montoya actually pulled it off, getting the full run in just 32.6 seconds and 1.43 miles.A very proud Wolfgang Dürheimer, President of Bugatti Automobiles, made the announcement: “Bugatti is the first car brand that not only calculates how fast a car can go from zero to 400 to zero on a computer. We actually drove it. Where others are satisfied with theory, we validate our data with real-life values. Just like we did with the Chiron.”The Chiron is packing an 8-liter, quad-turbo W-16 engine—really, two 15-degree V-8s nestled together—and produces a massive amount of horsepower (1,500, to be exact) across a very broad spectrum of the powerband. In a car that weighs at least 4,000 pounds, that spectrum is crucial to takeoff. Braking is anot..

    The Bugatti Chiron and Juan Pablo Montoya Just Set a Ridiculous Speed Record

    The Bugatti Chiron—a $3 million, 1,500-horsepower luxury spaceship on wheels that makes us go weak in the knees—just set the world record for going from 0-400 kph (or 249 mph) and then back to zero again. Former F1, IndyCar, and NASCAR ace Juan Pablo Montoya actually pulled it off, getting the full run in just 32.6 seconds and 1.43 miles.A very proud Wolfgang Dürheimer, President of Bugatti Automobiles, made the announcement: “Bugatti is the first car brand that not only calculates how fast a car can go from zero to 400 to zero on a computer. We actually drove it. Where others are satisfied with theory, we validate our data with real-life values. Just like we did with the Chiron.”The Chiron is packing an 8-liter, quad-turbo W-16 engine—really, two 15-degree V-8s nestled together—and produces a massive amount of horsepower (1,500, to be exact) across a very broad spectrum of the powerband. In a car that weighs at least 4,000 pounds, that spectrum is crucial to takeoff. Braking is anot..
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  • U.S. automakers and dealers started September with a record number of unsold vehicles — and this time, it's not all because of General Motors. Volkswagen brand, back selling repaired 2015 diesels as new vehicles, has a 149-day supply based on how long stocks would last at the previous month's selling rate The headline numbers look grim. On Sept. 1, the industry had a 70-day supply. In units, U.S. inventory was 3,862,200. Both are the highest on record for this time of year, when automakers typically clear out old models before a new model year. Over 25 years of comparable data, Sept. 1 supplies average 56 days. But for perspective, the unusual circumstances at VW brand and GM must be considered. After federal and California authorities approved fixes for 67,000 of the 475,000 2015 VW diesels that had been banned for emissions cheating, VW resumed diesel sales in April. Its inventory jumped. On Sept. 1, VW had 176,900 unsold vehicles, double the 86,500 of a year earlier...

    GM, VW push industry to record supply

    U.S. automakers and dealers started September with a record number of unsold vehicles — and this time, it's not all because of General Motors. Volkswagen brand, back selling repaired 2015 diesels as new vehicles, has a 149-day supply based on how long stocks would last at the previous month's selling rate The headline numbers look grim. On Sept. 1, the industry had a 70-day supply. In units, U.S. inventory was 3,862,200. Both are the highest on record for this time of year, when automakers typically clear out old models before a new model year. Over 25 years of comparable data, Sept. 1 supplies average 56 days. But for perspective, the unusual circumstances at VW brand and GM must be considered. After federal and California authorities approved fixes for 67,000 of the 475,000 2015 VW diesels that had been banned for emissions cheating, VW resumed diesel sales in April. Its inventory jumped. On Sept. 1, VW had 176,900 unsold vehicles, double the 86,500 of a year earlier...
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  • U.S. automakers and dealers started September with a record number of unsold vehicles — and this time, it's not all because of General Motors. Volkswagen brand, back selling repaired 2015 diesels as new vehicles, has a 149-day supply based on how long stocks would last at the previous month's selling rate The headline numbers look grim. On Sept. 1, the industry had a 70-day supply. In units, U.S. inventory was 3,862,200. Both are the highest on record for this time of year, when automakers typically clear out old models before a new model year. Over 25 years of comparable data, Sept. 1 supplies average 56 days. But for perspective, the unusual circumstances at VW brand and GM must be considered. After federal and California authorities approved fixes for 67,000 of the 475,000 2015 VW diesels that had been banned for emissions cheating, VW resumed diesel sales in April. Its inventory jumped. On Sept. 1, VW had 176,900 unsold vehicles, double the 86,500 of a year earlier...

    GM, VW push industry to record supply

    U.S. automakers and dealers started September with a record number of unsold vehicles — and this time, it's not all because of General Motors. Volkswagen brand, back selling repaired 2015 diesels as new vehicles, has a 149-day supply based on how long stocks would last at the previous month's selling rate The headline numbers look grim. On Sept. 1, the industry had a 70-day supply. In units, U.S. inventory was 3,862,200. Both are the highest on record for this time of year, when automakers typically clear out old models before a new model year. Over 25 years of comparable data, Sept. 1 supplies average 56 days. But for perspective, the unusual circumstances at VW brand and GM must be considered. After federal and California authorities approved fixes for 67,000 of the 475,000 2015 VW diesels that had been banned for emissions cheating, VW resumed diesel sales in April. Its inventory jumped. On Sept. 1, VW had 176,900 unsold vehicles, double the 86,500 of a year earlier...
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  • Outstanding auto-loan balances in the U.S. reached a record-high $1.1 trillion in the second quarter, a 7.1 percent rise, according to Experian's latest State of the Automotive Finance Market report released Thursday. The source of the growth was loans to prime buyers, as subprime and deep subprime originations continued to fall in the second quarter. Total subprime loan and lease originations dipped to 18.4 percent of the market, from 19.3 percent in the year-earlier quarter. Deep subprime origination share also fell slightly to 3.45 percent, vs. 3.54 percent a year earlier. Prime and superprime share, on the other hand, grew from year-earlier levels. Superprime loan and lease originations made up 19.1 percent of the market, up from 17.9 percent. Prime loan and lease originations dominated the market with a 39.4 percent share, vs. 39.0 percent a year earlier. Prime borrowers' origination share has grown in recent quarters. In line with that, the 30-day delinquency rate f..

    Outstanding auto loans hit record $1.1 trillion

    Outstanding auto-loan balances in the U.S. reached a record-high $1.1 trillion in the second quarter, a 7.1 percent rise, according to Experian's latest State of the Automotive Finance Market report released Thursday. The source of the growth was loans to prime buyers, as subprime and deep subprime originations continued to fall in the second quarter. Total subprime loan and lease originations dipped to 18.4 percent of the market, from 19.3 percent in the year-earlier quarter. Deep subprime origination share also fell slightly to 3.45 percent, vs. 3.54 percent a year earlier. Prime and superprime share, on the other hand, grew from year-earlier levels. Superprime loan and lease originations made up 19.1 percent of the market, up from 17.9 percent. Prime loan and lease originations dominated the market with a 39.4 percent share, vs. 39.0 percent a year earlier. Prime borrowers' origination share has grown in recent quarters. In line with that, the 30-day delinquency rate f..
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  • *ECB Leaves Refi Rate Unchanged At Record Low 0% As Expected ECB Leaves Refi Rate Unchanged At Record Low 0% As Expected

    *ECB Leaves Refi Rate Unchanged At Record Low 0% As Expected

    *ECB Leaves Refi Rate Unchanged At Record Low 0% As Expected ECB Leaves Refi Rate Unchanged At Record Low 0% As Expected
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  • BRAZIL: Ibovespa Ends Near Record Closing Level As Economic Optimism Rise Ibovespa, the benchmark stock market index in Brazil, jumped 1.75% on Wednesday, to 73,412.41 points, settling only 100 points below the record closing level of 73,516 points, reached on May 20, 2008. Market players got excited after data showed that the 12-month inflation in August slowed more than expected, to 2.46%, the lowest level since 1999, increasing the chances of sharper cuts in interest rates by the central bank. The market also believes that President Michel Temer has gained strength to approve measures in Congress and face a possible new complaint after the Brazilian Attorney General Rodrigo Janot has said that recent evidence could nullify a plea-bargain deal from JBS executives. The deal with JBS allowed the attorney general to charge Michel Temer with corruption. On Tuesday, the government was able to pass a bill in Congress that cuts financing subsidies to companies borrowing from a s..

    BRAZIL: Ibovespa Ends Near Record Closing Level As Economic Optimism Rise

    BRAZIL: Ibovespa Ends Near Record Closing Level As Economic Optimism Rise Ibovespa, the benchmark stock market index in Brazil, jumped 1.75% on Wednesday, to 73,412.41 points, settling only 100 points below the record closing level of 73,516 points, reached on May 20, 2008. Market players got excited after data showed that the 12-month inflation in August slowed more than expected, to 2.46%, the lowest level since 1999, increasing the chances of sharper cuts in interest rates by the central bank. The market also believes that President Michel Temer has gained strength to approve measures in Congress and face a possible new complaint after the Brazilian Attorney General Rodrigo Janot has said that recent evidence could nullify a plea-bargain deal from JBS executives. The deal with JBS allowed the attorney general to charge Michel Temer with corruption. On Tuesday, the government was able to pass a bill in Congress that cuts financing subsidies to companies borrowing from a s..
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  • ARGENTINA: Merval Renews Record High Amid Investor Optimism Merval, the main index of the Buenos Aires Stock Exchange, rose 0.56% Wednesday and renewed its record closing level, ending the session at 24,160.57 points. The Argentinean shares increased for the sixth consecutive session due to rising oil prices abroad and investor's optimism amid the economic growth and prospects of a good performance of the ruling party in the October legislative elections. Viviana Bonifati, an analyst at Intervalores, said that "the local market operated with selectivity and maximum prices in the first part of the session." Petrobras was the stock that climbed more (+3.55%) after launching the process of selling 90% of its stake in Transportadora Associada de G?s S.A. (TAG). The shares of the construction company Comercial del Plata (+2.67%) and the Holcim cement company (+2.55%) increased due to the good indicators that the sector is getting. Aluar (+2.10%) and TGN (+1.98%) also rose. The..

    ARGENTINA: Merval Renews Record High Amid Investor Optimism

    ARGENTINA: Merval Renews Record High Amid Investor Optimism Merval, the main index of the Buenos Aires Stock Exchange, rose 0.56% Wednesday and renewed its record closing level, ending the session at 24,160.57 points. The Argentinean shares increased for the sixth consecutive session due to rising oil prices abroad and investor's optimism amid the economic growth and prospects of a good performance of the ruling party in the October legislative elections. Viviana Bonifati, an analyst at Intervalores, said that "the local market operated with selectivity and maximum prices in the first part of the session." Petrobras was the stock that climbed more (+3.55%) after launching the process of selling 90% of its stake in Transportadora Associada de G?s S.A. (TAG). The shares of the construction company Comercial del Plata (+2.67%) and the Holcim cement company (+2.55%) increased due to the good indicators that the sector is getting. Aluar (+2.10%) and TGN (+1.98%) also rose. The..
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  • Poland Keeps Key Rate At Record Low Poland's central bank retained its record low interest rate, as widely expected. The Monetary Policy Council of the National Bank of Poland on Wednesday, decided to hold the key reference rate at a record low 1.50 percent. The previous change in the reference rate was a half-basis point cut in March 2015. The lombard rate was maintained at 2.50 percent and the deposit rate at 0.50 percent. The rediscount rate was left unchanged at 1.75 percent. Inflation rose to 1.8 percent in August from 1.7 percent in July. At the same time, core inflation remained at 0.8 percent. With the economy now operating at full employment, Liam Carson, an economist at Capital Economics expects core inflation to pick up markedly over the coming quarters. Carson said headline inflation is likely to rise above the central bank's 2.5 percent target in the first half of next year, which will prompt the start of a monetary tightening cycle. The economist..

    Poland Keeps Key Rate At Record Low

    Poland Keeps Key Rate At Record Low Poland's central bank retained its record low interest rate, as widely expected. The Monetary Policy Council of the National Bank of Poland on Wednesday, decided to hold the key reference rate at a record low 1.50 percent. The previous change in the reference rate was a half-basis point cut in March 2015. The lombard rate was maintained at 2.50 percent and the deposit rate at 0.50 percent. The rediscount rate was left unchanged at 1.75 percent. Inflation rose to 1.8 percent in August from 1.7 percent in July. At the same time, core inflation remained at 0.8 percent. With the economy now operating at full employment, Liam Carson, an economist at Capital Economics expects core inflation to pick up markedly over the coming quarters. Carson said headline inflation is likely to rise above the central bank's 2.5 percent target in the first half of next year, which will prompt the start of a monetary tightening cycle. The economist..
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  • The economy of Australia rebounded in the second quarter as households and governments spent without restrictions following a weak beginning of 2017, while the downturn in mining investment loosened its tight grip on expansion. The latest GDP report revealed that the economy grew 0.8 percent in the second quarter, higher from 0.3 percent in the first quarter and even managed to surpass the recovery of the United States. In spite of that, the expansion shows no sign of reviving inflation and with plenty of spare capacity in the labor market. The Reserve Bank of Australia appears to be fine with leaving interest rates at record lows for months to come. Gross domestic product amounted to 1.75 trillion Australian dollars ($1.4 trillion) in current dollars, or nearly A$72,180 for each of Australia's citizens. The Australian economy grew by 1.8 percent compared to the previous year, restrained by a contraction during the third quarter of 2016. Propelling the recent acceleration ..

    Prime News: Australian Economy Poised for Record Growth with Annual GDP Pace

    The economy of Australia rebounded in the second quarter as households and governments spent without restrictions following a weak beginning of 2017, while the downturn in mining investment loosened its tight grip on expansion. The latest GDP report revealed that the economy grew 0.8 percent in the second quarter, higher from 0.3 percent in the first quarter and even managed to surpass the recovery of the United States. In spite of that, the expansion shows no sign of reviving inflation and with plenty of spare capacity in the labor market. The Reserve Bank of Australia appears to be fine with leaving interest rates at record lows for months to come. Gross domestic product amounted to 1.75 trillion Australian dollars ($1.4 trillion) in current dollars, or nearly A$72,180 for each of Australia's citizens. The Australian economy grew by 1.8 percent compared to the previous year, restrained by a contraction during the third quarter of 2016. Propelling the recent acceleration ..
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  • ARGENTINA: Merval Rises 1.30%, Closes At Record High Merval, the main index of the Buenos Aires Stock Exchange, closed at a record high on Tuesday, breaking the 24,000 points barrier. It was primarily driven by the rise in oil prices abroad and the continuing optimism among investors ahead of the upcoming October legislative elections. The Merval index rose 1.30%, to 24,016.09 points. According to Marcos Forquera, an analyst at Buenos Aires Valores, the index closed in new historical values in a continuity of the optimism perceived since August's primary elections. The shares of Tenaris (+4%), Telecom (+3.74%), Petrobras (+2.85%), Comercial del Plata (+2.75%), Franc?s (+2.42%), Galicia (+2.35%), and TGN (+1.23%) rose, while Holcim (-1.35%), Consultatio (-1.20%), and Agrometal (-0.76%) fell. According to Forquera, the recent stability in the greenback stability also helped the stock markets by attracting more investments to Argentina. The locally traded U.S. dollar rose 0..

    ARGENTINA: Merval Rises 1.30%, Closes At Record High

    ARGENTINA: Merval Rises 1.30%, Closes At Record High Merval, the main index of the Buenos Aires Stock Exchange, closed at a record high on Tuesday, breaking the 24,000 points barrier. It was primarily driven by the rise in oil prices abroad and the continuing optimism among investors ahead of the upcoming October legislative elections. The Merval index rose 1.30%, to 24,016.09 points. According to Marcos Forquera, an analyst at Buenos Aires Valores, the index closed in new historical values in a continuity of the optimism perceived since August's primary elections. The shares of Tenaris (+4%), Telecom (+3.74%), Petrobras (+2.85%), Comercial del Plata (+2.75%), Franc?s (+2.42%), Galicia (+2.35%), and TGN (+1.23%) rose, while Holcim (-1.35%), Consultatio (-1.20%), and Agrometal (-0.76%) fell. According to Forquera, the recent stability in the greenback stability also helped the stock markets by attracting more investments to Argentina. The locally traded U.S. dollar rose 0..
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