• Ping An Bank Ranks 46th on Top 1000 World Banks

    Ping An Insurance (Group) Company of China, Ltd. ("Ping An" or the "Group", HKEx: 2318; SSE: 601318) is pleased to announce that its subsidiary Ping An Bank Co., Ltd. ("Ping An Bank") is ranked 46th in The Banker's Top 1000 World Banks, up nine places from last year.


  • Does Alpha Financial Markets Consulting (LON:AFM) Have A Healthy Balance Sheet?

    Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...


  • 2 California counties, once defiant, see virus cases rise

    At a bus stop in Yuba City, Ron Starkey sat on a concrete wall watching videos on his phone, a white face mask tightly folded in his right hand. Sutter County, where Starkey lives, was one of the first places in California to more broadly reopen its economy. It and neighboring Yuba County defied Gov. Gavin Newsom's stay-at-home order to let restaurants, hair salons, gyms and a shopping mall reopen in early May.


  • No regrets: wounded Hong Kong police vow to keep enforcing law

    Nine months ago he was burned by corrosive liquid hurled during anti-government protests, but Hong Kong police officer Ling says he has no regrets and remains devoted to being a law enforcer. Officers like Ling have formed the spear tip of Beijing's pushback against huge and often violent pro-democracy protests in the restless finance hub. Now the police have been given expanded powers under a sweeping new national security law imposed by Beijing that aims to crush the democracy movement once and for all.


  • Revenue Downgrade: Here's What Analysts Forecast For Dart Group PLC (LON:DTG)

    Market forces rained on the parade of Dart Group PLC (LON:DTG) shareholders today, when the analysts downgraded their...


  • Merck Opens its Largest M Lab™ Collaboration Center in Shanghai

    Merck, a leading science and technology company, opened its M Lab™ Collaboration Center in Shanghai, the company's largest of nine centers worldwide.


  • L-com Unveils New Category 8 Tool-less Keystone Jacks and Field Term RJ45 Plug with PoE++ Compliance

    L-com, an Infinite Electronics brand and a preferred manufacturer of wired and wireless connectivity products, has released new Category 8 tool-less keystone jacks and a field termination RJ45 plug with PoE++ compliance. These new products are ideal for Category 6a, 7 and 8 networks, industrial monitoring and control, test and measurement, field installations and repair, and I/O connectivity.


  • MilliporeSigma Opens its Largest M Lab™ Collaboration Center in Shanghai

    MilliporeSigma today opened its M Lab™ Collaboration Center in Shanghai, the company's largest of nine centers worldwide.


  • Without IMF bailout, is Lebanon heading for 'hell'?

    Talks between crisis-hit Lebanon and the International Monetary Fund are deadlocked, and leaders reluctant to enact reforms. Without a vital multi-billion-dollar bailout, is Lebanon headed for "hell"? After the country for the first time defaulted on its sovereign debt in March, the government pledged reforms and in May started talks with the IMF towards unlocking billions of dollars in aid.


  • Most India Stocks Fall With Valuations Levels Flashing Caution

    (Bloomberg) -- Most Indian equities fell, with the benchmark gauge set for a fourth-straight weekly gain, after technical indicators came close to flashing a warning sign.The S&P BSE Sensex declined less than 0.1% to 36,702.47 as of 10:16 a.m. in Mumbai, still on course to complete its longest stretch of weekly gains since November, while the NSE Nifty 50 Index also lost less than 0.1%. Both gauges’ relative strength and 200-day moving averages are close to levels triggering sell signals.“Valuations can’t be justified by any metric now,” said Amit Khurana, head of research at Dolat Capital Ltd. in Mumbai.As India’s corporate earnings season commences, the country faces its first economic contraction in 40 years even as signs of recovery emerge with business gradually reopening. Still, the South Asian nation is the third-worst hit by the coronavirus, after the U.S. and Brazil.Read: What Google Data Tells Us About India’s Economic RecoveryTata Consultancy Services Ltd. yesterday posted profit below expectations after the pandemic disrupted its ability to service key clients. The shares fell 0.6%. Asia’s largest software outsourcing provider is the first of India’s giant IT services companies to report earnings for the three months through June. Wipro Ltd. and Infosys Ltd. are scheduled to post results Tuesday and Wednesday, respectively.The yield on the benchmark 10-year government bond slipped one basis point to 5.76%, while the rupee depreciated 0.2% to 75.1625 per U.S. dollar.The NumbersEight of 19 sector sub-indexes compiled by BSE Ltd. slipped, led by a gauge of healthcare companiesThirteen Sensex shares fell while 13 roseHDFC Bank Ltd. contributed the most to the index decline, slipping 0.9%, Tech Mahinra Ltd. had the largest fall, dropping 2%; Reliance Industries Ltd. provided the biggest boost with a 1% gain, Sun Pharmaceuticals Ltd. was the biggest winner, adding 2.6%.Related StoriesVirus-Ravaged States in India Clamor for More Funds From ModiIndia Most at Risk in Asia for Aviation-Related Job Loss: ChartVodafone Idea Defaults on Rental to Tower Cos: Business StandardCredit Agricole Sees Rupee Slumping to Record Low on More EasingFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.


(ARA) - When you buy a used car, you're happy if the seller vacuums the interior and gives the exterior a good wash and wax before you take possession. But there's one kind of "cleanup" that you want to avoid when you're buying used: title washing.

Title - or "brand" - washing occurs when a seller takes steps to hide the damaged or totaled condition of a vehicle. When a vehicle is damaged or declared a total loss due to flood, fire, accident, natural disaster or other circumstance, the state in which it's titled will "brand" the title, noting the condition on the document. Unscrupulous sellers circumvent the branding by repairing or camouflaging the damage and then titling the vehicle in a different state.

"What title washing means for consumers is that they can end up paying far more for a salvaged or totaled vehicle than it's worth, thinking they're buying a used vehicle in good condition," says Joshua Steffan, director for Experian Automotive. "Often, a buyer will be unaware of the vehicle's true condition until they've completed the purchase, driven the vehicle and started to experience problems related to the hidden damage."

Bureau of Transportation statistics indicate that in any given year, the number of used car sales is about three times the number of new vehicle sales. With the recession driving demand for used vehicles over the past few years, incidences of title washing have also increased.

In fact, during the first six months of 2011, 257,245 vehicles were initially branded and then transferred or retitled in a second state with a clean title, according to the AutoCheck vehicle history report database. In 2008, that happened to just 185,000 vehicles. Most of the title washed vehicles in 2011 were branded as salvage (39 percent) or rebuildable (26 percent).

Title washing also tends to increase in regions that have experienced a natural disaster, like a hurricane. In such situations, flood waters will often leave many vehicles unusable and many states will brand a vehicle's title as flood damaged.

So how can you protect yourself from the risk of buying a title-washed vehicle? Steffan offers some advice:

* Check the vehicle's background by purchasing a vehicle history report. Most title-washed cars keep their original vehicle identification numbers (VIN), which is all you need to order an AutoCheck report. The report includes information on the status of the title (including if it's been branded), a check of possible problems, an odometer check, the history of how the vehicle was used (as a rental or private vehicle) and any events, such as accidents or flood damage that have been reported on the vehicle. You'll also get the ZIP code of where the vehicle has been registered, and you can use online resources to match that information to regions where the vehicle might have been exposed to floods or other natural disasters.

* Have the vehicle inspected by a mechanic. Some title washers, however, are pros and may have reconstructed a car so well that it's hard for even a professional to tell.

* When you first see the vehicle, look for discoloration on seats, seatbelts or door panels that might indicate mineral deposits left behind by flood waters. You may see moisture on the inside of the instrument panel. Do a sniff test. A water-damaged vehicle might smell moldy or musty. Or, it might smell strongly of potent cleansers that the seller has used to mask the odor of mold.

* Fresh paint on newer-model cars may indicate the vehicle has been in an accident and had bodywork done. Mismatched panels and extremely low mileage may also be red flags.

* Always check to ensure the VIN on the vehicle's paperwork matches the one on the vehicle. The location of the VIN varies from vehicle to vehicle, but you'll often find it on a small metal plate in the corner of the windshield nearest the driver. Other locations include on the engine or engine block, or the right front wheel well.

"Ultimately, a title check from a vehicle history report is the optimum way to know as much as possible about a vehicle you're considering buying," Steffan says. "A modest investment can help you avoid making a costly mistake."Cleaning up the mystery of vehicle title washing
Category: Business