Investors in an Evergrande offshore bond say they have yet to receive a closely watched interest payment just hours before the deadline, adding to uncertainty over an unfolding liquidity crisis at the world’s most indebted property developer. The $83.5m payment has a deadline of midnight in New York on Thursday, or noon Friday in Hong
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Amid the chaos surrounding concerns about debt payments by China’s property developer Evergrande Group, it’s good to be the chairman. Although Evergrande Group’s 80% stock decline so far this year has made a dent in its billionaire founder and chairman’s fortune, Hui Ka Yan will remain extraordinarily wealthy even if the company collapses under the
Jenna Fountain carries a bucket down Regency Drive to try to recover items from their flooded home in Port Arthur, Texas, September 1, 2017. Emily Kask | AFP | Getty Images Record-setting rain, floods and wildfires are examples of the rising risks to the U.S. housing market from climate change. Mortgage lenders and investors are
Bullish optimism is on the rise across the cryptocurrency market on Sept. 23 as prices continue to recover from this week’s volatility which was the result of regulatory pressure on the crypto sector, the FOMC meeting on the Fed’s interest rate hikes and monetary policy, along with fears that the Evergrande situation would ripple out
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Newark, New Jersey has spent the last two years replacing 22,000 lead service lines and crafting a plan to expand Internet access to all residents, Mayor Ras J. Baraka said today during a Volcker Alliance and Penn Institute for Urban Research briefing. But a fresh influx of federal cash for broadband and clean water programs
Federal Reserve Chairman Jerome Powell on Wednesday said the central bank’s current trading rules are insufficient and promised that it would “make changes” after filings showed that officials traded stocks and bonds that could be influenced by its policy actions. Specifically, Powell said that Fed officials should as a general rule be barred from owning
Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), speaks during a Senate Banking, Housing and Urban Affairs Committee hearing in Washington, D.C., U.S., on Tuesday, Sept. 14, 2021. Bill Clark | Bloomberg | Getty Images Investors and Congress are awaiting an imminent report from Securities and Exchange Commission Chair Gary Gensler on
In this article CRM DRI JOBY BIIB KBH BB Check out the companies making headlines before the bell: Darden Restaurants (DRI) — The Olive Garden parent reported earnings of $1.76 per share, higher than the $1.64-per-share forecast. The restaurant company also reported same-store sales that rose 47.5%, topping estimates. Shares rose 3% in premarket trading.
Municipals sat tight again Wednesday as broader markets digested the Federal Open Market Committee leaving interest rates unchanged and noting the tapering process may begin sooner. The news was largely expected and U.S. Treasuries ended the day a touch firmer while equities made up for lost ground though pared back earlier gains. “The biggest news
Deepening worries over Evergrande have ignited selling in a $428bn corner of the Asian debt market, underscoring how the crisis at the Chinese property developer is spreading to other assets as traders and investors brace for a crucial payment deadline on Thursday. Yields on US dollar-denominated bonds issued by riskier Asian borrowers have soared to
Mega-mansion developer Mohamed Hadid has reduced the price for a property overlooking Beverly Hills to $50 million, down 50% from the original asking price of $100 million. Called Olive Hills, the undeveloped land near Franklin Canyon in Los Angeles surfaced for sale in July, roughly six months after a series of events led the entities
In this article 3333-HK 127-HK A man drives a cart past apartment buildings at China Evergrande Group’s Life in Venice real estate and tourism development in Qidong, Jiangsu province, China, on Tuesday, Sept. 21, 2021. Qilai Shen | Bloomberg | Getty Images Hong Kong-listed shares of investment holding firm Chinese Estates surged on Thursday after
The cryptocurrency ecosystem is showing signs of a recovery on Sept. 22 following a 48-hours corrective stint which saw Bitcoin and altcoins sell-off to their swing lows. Equities and crypto investors were clearly worried about the possible bankruptcy of China’s Evergrande real estate firm and many feared that the possible default could spark a global
press release PRESS RELEASE. Singapore, September 22, 2021 – Alchemy Pay is now using Chainlink Price Feeds to enable users to buy crypto on decentralized exchanges (DEXs) and obtain loans in leading DeFi lending platforms directly from wallets using Alchemy Pay’s ERC-20 utility token, ACH. Chainlink Price Feeds help assure users that they are receiving
While Biogen rides a big-cap rollercoaster, a few small players are creating better trading opps.
After consulting with House Ways and Means staff, Citi’s municipal strategy group believes a proposed 3% high income surcharge that’s part of the reconciliation budget package will likely not apply to tax-exempt interest. The position revises Citi’s warning earlier this week that the surcharge may apply to tax-exempt municipal income, a move that would have
The sharp correction that threatened to pull Bitcoin and altcoin prices back toward their sing lows appears to have dissipated now that Evergrande informed investors that it intends to make an on-time payment on its debt. With global markets feeling reassured, major equities, Bitcoin and altcoins prices all saw a rebound at the market open.
The facade of Blue Origin’s new rocket engine factory in Huntsville, Alabama. CNBC | Michael Sheetz The U.S. Federal Court of Claims released the redacted version of the lawsuit filed in August by Jeff Bezos‘ Blue Origin against NASA and Elon Musk’s SpaceX over a lucrative lunar lander contract awarded earlier this year. “Historically a
In this article FDX ADBE DIS H SFIX GIS Check out the companies making headlines in the premarket. General Mills — Shares of General Mills added 1.7% in the premarket after the food company reported better-than-expected quarterly earnings. General Mills posted adjusted earnings of 99 cents per share compared with the analyst consensus of 89