Business

China's Evergrande resumes work on more than 10 projects

FILE PHOTO: An aerial view shows residential buildings at the construction site of Evergrande Cultural Tourism City, a China Evergrande Group project whose construction has halted, in Suzhou’s Taicang, Jiangsu province, China October 22, 2021. REUTERS/Xihao JiangBEIJING (Reuters) -China Evergrande Group said on Sunday it had resumed work on more than 10 projects in Shenzhen, […]

Business

Factbox-China Evergrande's upcoming bond coupon payments

SHANGHAI (Reuters) – China Evergrande Group on Friday confounded market expectations that it would formally default this weekend, supplying funds to pay interest on a U.S. dollar bond before the expiration of a 30-day grace period on Oct. 23.A man walks past a No Entry traffic sign near the headquarters of China Evergrande Group in […]

Business

Glencore opens talks with Chad over debt restructuring

LONDON (Reuters) -Glencore and a consortium of banks have started talks with Chad over the restructuring of the country’s more than $1 billion commercial debt, according to a letter from the company to the International Monetary Fund seen on Saturday.FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company’s headquarters […]

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Evergrande debt woes are manageable, China central bank official says

SHANGHAI (Reuters) -The spillover effect of China Evergrande Group’s debt problems on the banking system is controllable, a central bank official said on Friday, in rare official comments on a liquidity crisis at China’s No. 2 developer that has roiled global markets.FILE PHOTO: The logo of China Evergrande is seen at outside China Evergrande Centre […]

Business

Yellen says Congress will raise the debt ceiling in Dec. 3

FILE PHOTO: U.S. Treasury Secretary Janet Yellen answers questions during the Senate Appropriations Subcommittee hearing on Capitol Hill in Washington, D.C., U.S., June 23, 2021. Greg Nash/Pool via REUTERS/File PhotoWASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said that once Congress and the White House agree on spending plans, it will be lawmakers’ responsibility to […]

Business

HSBC CEO sees market impact from Evergrande debt woes

Workers walk inside the construction site of a project developed by China Evergrande Group in Beijing, China September 22, 2021. REUTERS/Carlos Garcia RawlinsSINGAPORE (Reuters) – HSBC Holdings PLC expects the debt problems involving embattled property developer China Evergrande Group to have an impact on capital markets but does not see any direct impact on the […]

Business

Analysis-Investors brace for a great fall in China

LONDON (Reuters) – International investors that have been piling into China in recent years are now bracing for one of its great falls as the troubles of over-indebted property giant China Evergrande come to a head.FILE PHOTO: People gather to demand repayment of loans and financial products at the lobby of Evergrande’s Shenzhen headquarter, Guangdong […]

Business

Global equity funds see biggest weekly inflows in nearly 2 months-Lipper

(Reuters) – Global equity funds lured their biggest weekly inflows in two months in the week ended Aug. 18, bolstered by strong corporate earnings and sustained hopes of an economic recovery.Spire CEO Peter Platzer walks on the trading floor of the New York Stock Exchange (NYSE) during their listing in Manhattan, New York City, U.S., […]

Business

Debt-laden Evergrande says in sale talks for certain assets; shares jump

HONG KONG/SHANGHAI (Reuters) – Shares of debt-ladden China Evergrande Group jumped on Wednesday after it confirmed that it is in talks to sell certain assets, as the move could ease cashflow pressure amid market speculation over a potential restructuring.FILE PHOTO: An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018. REUTERS/Bobby […]

Business

SoftBank to raise $7.35 billion in offshore bond sale

FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File PhotoTOKYO (Reuters) – SoftBank Group Corp said on Thursday it plans to raise $7.35 billion this month by selling U.S. dollar- and euro-denominated bonds, the Japanese conglomerate’s first such foreign bond sale […]