China Evergrande Shares Nosedived Again – Now on Failed Partial Buyout Deal
Beleaguered property insurance behemoth China Evergrande disclosed it was negotiating to sell part of its business to Hopson Development Holdings, its smaller rival.
Beleaguered property insurance behemoth China Evergrande disclosed it was negotiating to sell part of its business to Hopson Development Holdings, its smaller rival. However the deal fell apart.
The collapse of the Hopson deal comes as Evergrande faces the end of a 30-day grace period on Saturday for a closely watched $83 million interest payment to investors in an offshore U.S. dollar-denominated bond.
Evergrande’s lingering collapse continues to pose systemic risk to both China’s economy and stability of all Asian markets. The company’s shares in Hong Kong briefly dropped more than 10% in opening trade on Thursday.
Edward Snowden Likes Bitcoin and Doge, but Wary of Shiba Inu
According to Benzinga, in a recent tweet, the famous whistleblower in exile Edward Snowden warned about unleashing investing hype around Shiba Inu (SHIB) and said that people should not invest their hard-earned money in a "clone of dog money".
British Finance Minister Rishi Sunak is Upbeat on U.K.’s Economy and His Spending Plans
Multi-billion pound spending on health care services and transport were among the plans British Finance Minister Rishi Sunak announced in his latest budget statement on Wednesday.
Never Ending Debate About Whether Inflation is Transitory or Permanent Spiced Up by Stagflation Talks
According to Barron’s citing of Oxford Economics report, the U.S. is experiencing a rare phenomenon showing still strong, but cooling, demand that is being challenged by constrained, but accelerating, supply leading to some kind (transitory or sticking) inflation.
