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January 19, 2022

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China’s Evergrande scrambles to avoid new default, Shimao hoists ‘for sale’ sign

Reuters
A man walks past a wall carrying the logo of Shimao Group, with residential buildings and the financial district of Pudong seen in the background, in Shanghai, China January 1, 2013. Picture taken January 1, 2013. REUTERS/Stringer Register now for FREE unlimited access to Reuters.com Register Shimao puts assets on......

Biden signs debt ceiling increase, preventing first-ever U.S. default

CNBC
CNBC – For more and to sign up click here U.S. President Joe Biden speaks prior to signing an executive order intended to reduce bureaucracy around government services for the public, in the Oval Office at the White House in Washington, U.S., December 13, 2021. Evelyn Hockstein | Reuters President......

Evergrande slides into default while some ratings agencies keep quiet

CNBC Real Estate
An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018. Bobby Yip | Reuters BEIJING — Indebted property developer China Evergrande defaulted this week with hardly a ripple in markets as most institutions remained silent. Late Thursday, Fitch Ratings said Evergrande had not confirmed payment of......

Evergrande set for restructuring, with no word on first formal default

CNBC
CNBC – For more and to sign up click here A housing complex by Chinese property developer Evergrande in Beijing. Noel Celis | AFP | Getty Images Evergrande is set to forge ahead into a debt restructuring that would include all of its offshore public bonds and private debt, according......

Evergrande default is highly likely, S&P says

CNBC Real Estate
The logo of China Evergrande is seen at outside China Evergrande Centre building in Hong Kong, China September 23, 2021. Tyrone Siu | Reuters BEIJING — Highly indebted property developer China Evergrande will likely default because the company has essentially lost its main business, S&P Global Ratings analysts said in......

Yellen extends U.S. default deadline to Dec. 15 after highway payment

Reuters
Treasury Secretary Janet Yellen attends the House Financial Services Committee hearing in Washington, U.S., September 30, 2021. Al Drago/Pool via REUTERS WASHINGTON, Nov 16 (Reuters) – U.S. Treasury Secretary Janet Yellen on Tuesday extended a deadline for a potential U.S. government default to Dec. 15 from Dec. 3, giving Congress......

Alex Jones Guilty by Default in All Sandy Hook Defamation Suits

New York Times
A superior court in Connecticut granted a sweeping victory to the families of eight people killed in a 2012 mass shooting at Sandy Hook Elementary School in Newtown, Conn., suing the far-right broadcaster and conspiracy theorist Alex Jones and his Infowars media outlet for defamation. The judge in Connecticut ruled......

Evergrande dodges default again; property sector debt concerns linger

Reuters
Bondholders receive overdue coupon payments – source Chinese property shares, bonds stage relief rally Broader liquidity concerns remain, more debts coming due SINGAPORE/HONG KONG, Nov 11 (Reuters) – Cash-strapped developer China Evergrande Group once again averted a destabilising default with a last minute bond payment but the reprieve did little......

More Chinese developers could default, but analyst says real estate troubles have not spilled over

CNBC Real Estate
Investors could expect more Chinese property developers to default on bond payments, but troubles in the real estate sector have not spilled over to other industries, an analyst said Tuesday. Financial distress among Chinese real estate firms came to forefront in the last few months as Evergrande and other developers......

China Evergrande makes a payment before a default deadline, state media says.

New York Times
New York Times – For more and to sign up click here HONG KONG — China Evergrande, the troubled property giant that is teetering on the edge of collapse, appears to have bought itself a little more time. On Friday, the world’s most indebted property developer made an $83.5 million......

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

Reuters
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)......

Morgan Stanley upgrades China property to ‘attractive’ despite default fears

CNBC Real Estate
A pedestrian crosses a road in front of residential buildings in Beijing, China. Qilai Shen | Bloomberg | Getty Images Morgan Stanley has upgraded China’s property sector to “attractive,” even as worried investors are watching closely to see if debt-saddled Evergrande might default, and whether there will be contagion. The......

House panel to tee up debt ceiling hike with three weeks to avert default

USA TODAY – For more and to sign up click here Sylvan Lane The House Rules Committee will meet Wednesday morning to advance a bill that would suspend the federal debt limit through December 2022, the panel announced Tuesday night.The Rules panel is expec… Source link To Return to the......

EXCLUSIVE JPMorgan’s Dimon cautions a U.S. default would be ‘potentially catastrophic’

Reuters
Jamie Dimon, CEO of JPMorgan Chase, takes part in a panel discussion about investing in Detroit during a panel discussion at the Kennedy School of Government at Harvard University in Cambridge, Massachusetts, U.S., April 11, 2018. REUTERS/Brian Snyder/File Photo WASHINGTON, Sept 28 (Reuters) – JPMorgan Chase & Co (JPM.N) has......

Congress must raise the debt limit by Oct. 18, Treasury Secretary Yellen warns in new letter as potential default looms

CNBC
CNBC – For more and to sign up click here U.S. Treasury Secretary Janet Yellen testifies before the Senate Appropriations Subcommittee on Financial Services about the FY22 Treasury budget request on Capitol Hill in Washington, DC, June 23, 2021. Greg Nash | Pool | Reuters Treasury Secretary Janet Yellen on......

Senate GOP blocks bill that would fund government and suspend debt limit, as time runs short to avoid shutdown and default

CNBC
CNBC – For more and to sign up click here Congress is running out of time to prevent a shutdown and a default. Senate Republicans on Monday blocked a bill that would fund the government and suspend the U.S. debt ceiling, leaving Democrats scrambling to avoid a possible economic calamity.......

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