HONG KONG — A Hong Kong court on Monday ordered property developer China Evergrande Group to liquidate after it was unable to reach a restructuring deal with creditors. Judge Linda Chan said it was appropriate for the court to order Evergrande to wind up its business given a “lack of progress on the part of … Read more
An artwork juxtaposing Chinese yuan cash bills with the China’s flag Javier Ghersi | Moment | Getty Images China’s financial institutions should provide strong support to the country’s beleaguered real estate sector and not “blindly withdraw” financing for projects facing difficulties, according to a senior Chinese financial regulatory official. His strongly worded comments follow the … Read more
Pan Gongsheng was named party secretary of the People’s Bank of China on July 1, 2023. Vcg | Visual China Group | Getty Images BEIJING — China pledged to reduce the amount of liquidity that its banks are required to hold as reserves early next month in its bid to boost its struggling economy. Reserve … Read more
Kristalina Georgieva, managing director of the International Monetary Fund, at a press conference at the IMF Headquarters on April 14, 2023. Kevin Dietsch | Getty Images News | Getty Images The head of the International Monetary Fund warned Monday that China needs structural reforms in order to avoid “a fairly significant decline in growth rates.” … Read more
Investor Steve Eisman of “The Big Short” fame is questioning the level of bullishness on Wall Street — even with the market’s tepid start to the year. From enthusiasm surrounding the “Magnificent Seven” technology stocks to expectations for multiple interest rate cuts this year, Eisman believes there’s little tolerance for things going wrong. “Long term, … Read more
A shopper carries several bags in the Magnificent Mile shopping district of Chicago on Dec. 2, 2023. Taylor Glascock | Bloomberg | Getty Images The U.S. economy has remained remarkably strong but affordability is worse than it has ever been, some social media users say, even when compared to The Great Depression. One of TikTok’s … Read more
Experts suggest thinking about how you’ll use your home in future when considering a building project. 10’000 Hours | Digitalvision | Getty Images Extending your home or remodeling your kitchen and bathroom may be an exciting prospect but it’s worth carefully planning the design and build to manage the risks involved, according to specialists who … Read more
The Spanish town of Marbella, on the country’s south coast, is popular among overseas buyers. Artur Debat | Moment | Getty Images There are three European countries that are “perennial favorites” for people to buy a vacation home, according to Kate Everett-Allen, a partner at real estate firm Knight Frank. France, Italy and Spain all … Read more
A view of clouds over Manhattan skyline in New York, United States on August 08, 2023. (Photo by Fatih Aktas/Anadolu Agency via Getty Images) Anadolu Agency | Anadolu Agency | Getty Images Manhattan rents fell for the first time in over two years, as the supply of empty apartments grew and renters held out for … Read more
Shanghai Pudong district at sunrise Dukai Photographer | Moment | Getty Images China’s top leaders vowed to boost domestic demand and tackle the country’s real estate crisis following a key meeting that laid out economic priorities for the new year. Under a new slogan pledging to achieve stability through economic progress, Chinese leaders said it’s … Read more