All is not well with China’s economy. Cash-strapped Chinese developers are scrambling to negotiate new terms with their bondholders to avoid defaults, with Yuzhou Group and the Shimao Group being the latest case in point of Chinese developers seeking extensions on their… Read More ›
China Evergrande Group’s shares tumbled on Thursday after the crisis-hit real estate developer failed to pay offshore coupons due earlier this week. Evergrande, whose $19 billion in international bonds are in cross-default after missing a deadline to pay coupons earlier… Read More ›
According to US court documents, Credit Suisse has sought information through the U.S. courts which could potentially lead to a situation wherein it can take a legal step against SoftBank Group Corp in Britain in an effort to recover funds… Read More ›
As per a source with direct knowledge, a think-tank of China’s powerful state council met banks and real estate developers in Shenzhen city midst intensifying worries liquidity crisis facing China’s property sector. The meeting, held yesterday, included participants from China… Read More ›
According to sources familiar with the matter at hand, China Evergrande’s offshore bondholders have yet to receive their due coupon payment by the close of Asia business on Wednesday, despite the cash strapped Chinese developer reaching a $1.5 billion debt… Read More ›
The ratings of heavily indebted Chinese developer Evergrande Group and its subsidiaries was downgraded to “CCC-“, down from ‘CCC+” by S&P Global. This is its second downgrade in less than two weeks. Evergrande along with its subsidiaries Hengda Real Estate Group… Read More ›
In a statement, the executive body of the European Union said, the United Kingdom is liable to pay $56.2 billion (47.5 billion euros) to the bloc as part of its post-Brexit financial settlement. The amount, forming part of the EU’s… Read More ›
On Tuesday, a group of investors are set to ask a French court to back its $1.2 billion (1 billion euros) claim in damages from Vivendi, alleging that the media giant made false financial statements during a merger deal twenty… Read More ›
In a significant development, the European Union’s banking watchdog stated, starting from next year banks in the Eurozone would have to publish a pathbreaking “green asset ratio” (GAR) as a core measure of their climate-friendly business activities. With investments in… Read More ›
On Friday, Britain’s Supreme Court is set to give its verdict over workers’ rights at Uber in what could be a potentially landmark judgment with major ramifications for millions of people in the gig economy. In 2016, in a lawsuit… Read More ›
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