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|THE founder of China’s debt-laden LeEco resigned as chairman of its main listed unit yesterday vans old skool bianche offerte , just hours after making a public plea for patience amid a deepening financial crisis at the entertainment, electronics and electric vehicles group.
Leshi Internet Information & Technology Corp Beijing said Jia Yueting will remain controlling shareholder without any role, having resigned as chief executive in May to focus on the electric car business, of which he will now become chairman.
The announcement came after Jia on social media promised to repay debt and reaffirmed LeEco’s electric car commitment.
“Please give LeEco some time, please give LeEco car some time vans old skool bianche ,” Jia wrote in Chinese on his Weibo and WeChat accounts. “We will pay back creditors, suppliers and any other debts.”
The plea came about a month after Jia said a cash crunch at LeEco was “far worse than expected.” He previously said the group, whose businesses include telephones, television sets and cars, expanded too quickly from its video-streaming beginnings 13 years ago.
Jia’s resignation is the latest development in a week of turmoil vans old skool nere offerte , with asset managers seeking to pull investment after a Shanghai court granted China Merchant Bank Co Ltd’s request to freeze US$182 million in assets due to late interest payments.
“Given LeEco’s current state, in order to protect fund safety, we have asked our fund manager to pause new investment and will seek to hasten our exit from invested projects,” Noah Holdings Ltd said in on Wednesday.
Hengyu Tianze, known as 1314 fund vans old skool nere , also on Wednesday said it had asked to redeem convertible bonds in a LeEco unit several times since March.
Investors were also spooked after it emerged that China’s national enterprise credit information publicity system showed Jia relinquished his role as LeEco’s legal representative last month in favor of another executive, Wu Meng.
“Resigning as chief executive of LeEco’s listed company and many other roles is all aimed at making the FF91 go into production and hit the market as soon as possible,” Jia said yesterday, referring to a luxury car model.
By Evan Duggan
VANCOUVER, Sept. 6 (Xinhua) -- Despite positive messages comefrom recent NAFTA renegotiations attended by Canadian vans old skool marrone , Mexican andAmerican trade officials, Canadian trade experts were cautious thata new pact would likely face delays and political speed-bumps.
Canada's Foreign Affairs Minister Chrystia Freeland joined U.S.Trade Representative Robert Lighthizer and Mexican Secretary ofEconomy Ildefonso Guajardo to express optimism for a new pact onTuesday, following the second five-day round of NAFTA (NorthAmerican Free Trade Agreement) talks in Mexico City.
The three officials said in a joint statement that they had madeimportant progress across many fronts and expected more progress incoming weeks as the negotiators consult with industry leaders andtheir political masters.
The statement said all three partners ""reaffirmed theircommitment to an accelerated and comprehensive negotiation, withthe shared goal of concluding the process towards the end of thisyear.""
That optimism seems to fly in the face of the latest rhetoric ofU.S. President Donald Trump who said on Aug. 28 that Canada andMexico were acting very difficult and he was still consideringtearing up the 23-year-old trade pact.
A new NAFTA deal may not come by the end of the year, saidUniversity of British Columbia (UBC) trade expert vans old skool fiori , John Ries.
NAFTA has historically worked well for industry and investorsand should have a future so long as Trump's bluster doesn't becomereality, he said.
""I don't think he can [tear up NAFTA],"" he told Xinhua onWednesday. ""Trump doesn't have the political ability to do anythingreally dramatic because it's going to hurt various people whateverhe does, and there's going to be resistance. I think that NAFTAstays in place.""
Ries said the gap between Trump's attacks and Lighthizer'sfeedback feels a bit like a good cop, bad cop routine.
""The threat of Trump tearing [NAFTA] up and levying 30 percenttariffs might be a useful negotiating ploy vans old skool bianche e nere ,"" he said. ""But as weknow, Trump does a lot of tweets that his advisors aren't on sidewith... You could also think it's an idle threat.""
Trump has so far failed on several fronts, including replacingObamacare and compelling Mexico to pay for his border wall.
""He was going to do lots of things that he didn't manage to pulloff,"" he said.
Behind the optimism remain several hot spots, including the U.S.demand for more access into Canada's market-managed dairy andpoultry industries and its demand to eliminate independent disputeresolutions (known as Chapter 19). The U.S. team is also trying toprotect its ""Buy American"" position for the auto-parts industry andfor government procurement.
The communique coming out of Mexico City indeed seems like agood sign vans old skool nere e bianche , said Werner Antweiler, another trade professor at UBC inVancouver.
""Mr. Lighthizer is a competent and an accomplished tradenegotiator, so I see that he has the will to move things along,""Antweiler told Xinhua. ""His political masters in Washington, that'sa different matter.""
He said the expectations in the White House may not align withthe better senses of Lighthizer and his team.
""If Mr. Trump actually tried to [pull out of NAFTA] through anexecutive order vans old skool pelle nere , it will really send the message that he is notreally keen on accomplishing anything in the negotiations,"" hesaid. ""He is just essentially trying to blackmail the other partiesto do something.""
Antweiler, however, remains optimistic that a new deal will getdone. ""Because essentially, the legal authority to negotiate tradeagreements and to implement them lies with Congress.""
The next round of talks is set for Ottawa on Sept. 23-27.
As for Canada's negotiation team.