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Today it is down to 685 euros and debts are growing, he said. With unemployment reaching almost 28 percent at its peak, a quarter of children living in poverty and benefits slashed, many families grew dependent on grandparents for handouts during the downturn. Vagelakos can no longer support the families of his two sons and can barely cover his and his wife’s needs. “I wake up in the morning to a nightmare,” he said. “How will I manage my finances and my responsibilities? This is what I wake up to every morning.”.
Sitting at the kitchen table of his modest home, he goes through a notebook listing debts to the pharmacy and others: “36.8 (euros), 47.5 plus 13., If we add to this the rest of the debt that we have to pay, what is left for us to live on?”, Pensioners have staged numerous protests against the austerity measures imposed by the bailouts, but although the Greek economy is finally starting to grow again, albeit modestly, they may face yet more pain, Changes to pension regulations mean more cuts are expected silver amethyst swarovski double cufflinks in 2019..
SINGAPORE/BENGALURU (Reuters) - Embattled commodity trader Noble Group Ltd (NOBG.SI) said on Monday that its founder, Richard Elman, will not take up a previously announced position as an executive director in the restructured company, citing “personal reasons”. Once Asia’s largest commodity trader, Noble has shrunk its business after selling billions of dollars of assets, taking hefty writedowns and cutting hundreds of jobs. Its restructuring plan - crucial to its survival - gained ground last month when it won over a key shareholder with a sweetened equity offer.
The announcement of Elman’s decision not to join the board was made in a statement to the Singapore Exchange, Elman is Noble’s former chairman and controls nearly 18 percent of the equity in the current company, In April, he backed a proposed $3.5 billion debt-to-equity swap that would restructure the company after it improved the terms and announced a board seat for him in the new firm, Elman’s backing occurred less than a month after he resigned from Noble’s board, citing “amicable differences” silver amethyst swarovski double cufflinks with the board and a group of senior creditors negotiating the restructuring..
(Reuters) - PIF, the Saudi Arabian sovereign wealth fund that Tesla Inc (TSLA.O) CEO Elon Musk has said could help him fund a $72 billion deal to take his electric car maker private, is in talks to invest in aspiring Tesla rival Lucid Motors Inc, people familiar with the matter said on Sunday. The talks between privately-held Lucid Motors and PIF underscore the latter’s appetite to invest in electric car makers to diversify the oil-rich Middle Eastern kingdom’s investment portfolio. A deal with Lucid Motors would also be more in line with PIF’s limited resources, given that, despite its $250 billion in assets, PIF has already made substantial commitments to other technology companies or investments, including a $45-billion agreement to invest in a giant technology fund led by Japan’s SoftBank Group Corp (9984.T).
PIF and Lucid Motors have drawn up a term sheet under which PIF could invest more than $1 billion in Lucid Motors and obtain majority ownership, the sources said, PIF’s first investment in Lucid Motors, however, would be for $500 million, and subsequent cash injections would come in two stages that are contingent on Lucid Motors hitting certain production milestones, one of the sources added, The talks between PIF and Lucid Motors may not result in a deal, the sources cautioned, The sources asked not to be identified silver amethyst swarovski double cufflinks because the matter is confidential, PIF and Lucid Motors did not immediately respond to requests for comment..
Musk, a 47-year-old investor and engineer, stunned financial markets earlier this month, when he revealed on Twitter he was considering a $420 per share take-private deal for Tesla, an auto manufacturing pioneer that developed the world’s first ever premium all-electric sedan car. He added that funding was “secured,” and elaborated last Monday that he believed Saudi Arabia’s PIF could provide the necessary funding, although sources close to the sovereign wealth fund have played down that prospect. Earlier this year, PIF built a stake of just under 5 percent in Tesla by snapping up shares in the open market, rather than acquiring newly issued shares.
Musk has also said he believes two-thirds of existing Tesla shareholders would roll over their holdings into a silver amethyst swarovski double cufflinks private company, rather than cash out, and that he was still talking with major shareholders and advisers before settling on a structure for a deal, Getting access to cheap capital is a constant challenge for automakers, which can spend $1 billion or more engineering a single new model and bringing it to mass production, only to have the vehicle flop because of a cyclical sales slump or a shift in market tastes..
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