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October 22, 2021

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China Evergrande lines up funds for interest payment to avert default -source

Reuters
by Reuters00
Evergrande remits funds for interest payment to trustee -source Company faced end of 30-day grace period for payment on Oct. 23 Evergrande shares jump, drive gains in other developers Next 30-day grace period expires Oct. 29 for Sept. 29 payment HONG KONG/SHANGHAI, Oct 22 (Reuters) – China Evergrande Group (3333.HK)......
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EXCLUSIVE BOJ discussing phasing out pandemic support as economy reopens – sources

Reuters
by Reuters00
Businessmen wearing protective face masks walk on a pedestrian bridge, amid the spread of the coronavirus disease (COVID-19), in a business district in Tokyo, Japan June 24, 2020. REUTERS/Issei Kato Markets expect extension of scheme’s March deadline Decision on pandemic loan programme due Dec at earliest Some fret of cost......
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Hong Kong finance chief says city’s exposure to Evergrande ‘very minimal’ -SCMP

Reuters
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The logo of China Evergrande is seen at outside China Evergrande Centre building in Hong Kong, China September 23, 2021. REUTERS/Tyrone Siu/File Photo Oct 3 (Reuters) – Hong Kong’s exposure to debt-laden developer China Evergrande Group (3333.HK) is “very minimal” at 0.05%, or HK$14 billion ($1.79 billion), of banking assets,......
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Equity, bond funds see inflows as markets hit rough patch – BOFA

Reuters
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Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 29, 2021. REUTERS/Brendan McDermid LONDON, Oct 1 (Reuters) – Global equity and bond funds saw modest inflows at the expense of cash and gold funds even as global markets hit a rough......
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Analysis: From chips to ships, shortages are making inflation stick

Reuters
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A gas burner is pictured on a cooker in a private home in Bordeaux, soutwestern France, December 13, 2012. REUTERS/Regis Duvignau Analysts still view price pressures as temporary But watching supply, worker shortages closely U.S. seen more at risk from wage-induced inflation LONDON, Sept 30 (Reuters) – Soaring gas prices,......
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Evergrande set to miss second offshore bond coupon payment this month, sources say

Reuters
by Reuters00
Some Evergrande bondholders had not received coupon on Wednesday Evergrande was facing Wednesday deadline for $47.5 mln payment Company sold $1.5 billion stake in Shengjing Bank Shares in Evergrande rise as much as 17% HONG KONG, Sept 29 (Reuters) – At least some of China Evergrande’s offshore bondholders had not......
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China Evergrande to sell $1.5 bln stake in Shengjing Bank to state firm

Reuters
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Shengjing demands repayment of debts due to it Evergrande says sale will help stabilise Shengjing Evergrande faces bond interest payment deadline HONG KONG, Sept 29 (Reuters) – Scrambling to avoid defaulting on its debts, cash-strapped China Evergrande Group (3333.HK) said on Wednesday it plans to sell a 9.99 billion yuan......
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China asking state-backed firms to pick up Evergrande assets – sources

Reuters
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An aerial view shows the construction site of Guangzhou Evergrande Soccer Stadium, a new stadium for Guangzhou FC, developed by China Evergrande Group, in Guangzhou, Guangdong province, China. Picture taken September 26, 2021 with a drone. REUTERS/Thomas Suen HONG KONG, Sept 28 (Reuters) – Beijing is prodding government-owned firms and......
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PBOC promises to protect consumers as China Evergrande teeters

Reuters
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The company logo is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. REUTERS/Aly Song Housing consumers rights to be safeguarded – PBOC Evergrande shares up, bonds remain at distressed prices EV unit slides after cash warning Wednesday payment deadline looms BEIJING/HONG KONG,......
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Pelosi sets Thursday vote on infrastructure, eyes smaller social spending bill

Reuters
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U.S. House Speaker Nancy Pelosi (D-CA) holds her weekly news conference at the U.S. Capitol in Washington, U.S. September 8, 2021. REUTERS/Jonathan Ernst/File Photo WASHINGTON, Sept 26 (Reuters) – U.S. House of Representatives Speaker Nancy Pelosi on Sunday set a vote on the $1 trillion bipartisan infrastructure bill for Thursday......
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S&P pushes Ethiopia’s ratings into junk territory on delayed debt restructuring

Reuters
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The S&P Global logo is displayed on its offices in the financial district in New York City, U.S. REUTERS/Brendan McDermid Sept 24 (Reuters) – Ratings agency S&P Global cut Ethiopia’s sovereign rating to ‘CCC+’ from ‘B-‘ on Friday, citing heightened political instability and delays to debt restructuring. War broke out......
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Prudential eyes $2.41 bln raising in Hong Kong share sale – sources

Reuters
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The logo of British life insurer Prudential is seen on their building in London, Britain March 17, 2019. REUTERS/Simon Dawson HONG KONG, Sept 25 (Reuters) – Prudential (PRU.L) is seeking to raise $2.41 billion by pricing its stock at HK$143.8 each in its Hong Kong share sale, according to two......
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Fears grow for China Evergrande after interest deadline missed

Reuters
by Reuters00
Evergrande misses payment dedline on dollar bond interest Some bondholders have not been paid – sources Company has 30-day grace period before the bonds default PBOC injects cash into banking system; Evergrande shares fall SINGAPORE/SHANGHAI, Sept 24 (Reuters) – China Evergrande inched closer on Friday to the potential default that......
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Evergrande bondholders run out of hope for coupon payment on Thursday -source

Reuters
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Chairman reiterates top priority is to help investors Evergrande shares rise 18% boosting other property stocks Investors and analysts play down threat of ‘Lehman moment’ HONG KONG/SINGAPORE, Sept 23 (Reuters) – China Evergrande Group (3333.HK) dollar bondholders were still waiting for information about a key interest payment due Thursday, with......
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Shell exits Permian with $9.5 bln Texas shale sale to ConocoPhillips

Reuters
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Sept 20 (Reuters) – Royal Dutch Shell (RDSa.L) said on Monday it would sell its Permian Basin assets to ConocoPhillips (COP.N) for $9.5 billion in cash, an exit from the largest U.S. oilfield for the energy major shifting its focus to the clean energy transition. For ConocoPhillips, it is the......
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Marketmind: Watch those spiralling gas prices

Reuters
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Fuel prices are displayed at a gas station in Copacabana beach in Rio de Janeiro, Brazil, September 2, 2021. REUTERS/Ricardo Moraes/Files A look at the day ahead from Sujata Rao. A massive week in monetary policy, with some 16 central banks holding meetings and possibly the first rate hike from......
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Evergrande begins repaying wealth product investors with property

Reuters
by Reuters01
An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018. REUTERS/Bobby Yip/File Photo/File Photo BEIJING, Sept 19 (Reuters) – Cash-strapped developer China Evergrande Group (3333.HK) has begun repaying investors in its wealth management products with real estate, a unit of its main Hengda Real Estate Group......
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Evergrande says six execs redeemed investment products in advance

Reuters
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An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018. REUTERS/Bobby Yip/File Photo/File Photo/File Photo BEIJING, Sept 18 (Reuters) – Six executives of China’s heavily indebted Evergrande (3333.HK) had redeemed some of the company’s investment products in advance earlier this year, the property group said on......
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U.S. debt ceiling impasse? Fed’s ‘loathsome’ game plan for the ‘unthinkable’

Reuters
by Reuters00
Sept 17 (Reuters) – Treasury Secretary Janet Yellen says failure to raise the U.S. debt limit could lead to the unthinkable: a default on government payment obligations. That’s an outcome the White House on Friday warned could plunge the economy into recession. read more If the impasse in Congress over......
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World shares slide on China investment worries

Reuters
by Reuters00
A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. REUTERS/Carlo Allegri/File Photo U.S. retail sales rose in August Indexes: Dow off 0.18%, S&P down 0.16%, Nasdaq up 0.13% Dollar hits nearly three-week high Gold falls by more than 2% NEW YORK,......
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