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THE TRUTH ABOUT: 4 | History Defined

China Evergrande winding-up hearing adjourned to Dec. 4 by Hong Kong court

A Hong Kong court has adjourned a winding up hearing for property developer China Evergrande Group’s until Dec. 4

The Independent UK

China Evergrande’s founder is no longer a billionaire after the man once worth $42 billion loses 98% of his wealth

Property tycoon Hui Ka Yan was once Asia’s second-richest person.

Fortune

China’s Country Garden risks default after ‘missing bond payment’

Property developer denies claims founder and chair have left country amid reports it missed key deadline

The Guardian - UK

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China’s Country Garden warns it could default on debt

Property developer has about $200bn in liabilities and says its sales are ‘under remarkable pressure’

The Guardian - UK

China's Country Garden warns its first-ever default could come soon as its September sales plunge by over 80% year-on-year

In a stock filing Tuesday, developer Country Garden said it expects to miss some of its foreign debt payments.

Fortune

Evergrande, the ‘runaway’ developer that could become a wrecking ball for China’s economy

The regulatory crackdown that sparked arrests and a debt crisis in China’s second-biggest developer may do more harm than good to market, say analysts

The Guardian - AU

Crypto in the courtroom: FTX founder Sam Bankman-Fried goes on trial for fraud

Sam Bankman-Fried, the 31-year-old founder of cryptocurrency exchange FTX, will go on trial in New York this Tuesday. He stands accused of defrauding millions of customers who traded on his platform by using their funds to prop up his hedge fund Alameda Research. Also in this edition, Evergrande shares start…

France 24

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Evergrande shares soar as trading in crisis-hit China firm resumes

Stock was suspended after report billionaire founder Hui Ka Yan was under police surveillance

The Guardian - UK

China Evergrande soars after property developer's stocks resume trading

Shares of debt-laden property developer China Evergrande Group have soared after they resumed trading in Hong Kong following a suspension last week

The Independent UK

Evergrande spirals even further after halting its shares and admitting its billionaire chairman is detained due to 'suspicion of illegal crimes'

Evergrande's shares only resumed trading a month ago—and have lost 80% of their value since then.

Fortune

Stock market today: Asian shares fall over China worries, Seoul trading closed for a holiday

Asian shares were mostly lower Thursday in subdued trading on looming worries about China property woes

The Independent UK

Evergrande halts share trading as woes mount for China property giant

Suspension comes a month after developer resumed trading and follows its chair reportedly being put under police surveillance

The Guardian - AU

Trading of shares of heavily indebted property developer China Evergrande suspended in Hong Kong

The Hong Kong stock exchanges says share trading of heavily indebted Chinese property developer China Evergrande Group has been suspended

The Independent UK

Morrisons boss to step down; UK approval of Rosebank oilfield condemned as ‘environmental vandalism’ – as it happened

Supermarket names Rami Baitiéh as CEO; go-ahead for Equinor to develop largest oilfield in UK waters outrages campaigners

The Guardian - UK

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The Guardian - UK

Chair of China’s Evergrande reportedly put under police surveillance

Another missed bond payment raises doubts over future of world’s most indebted property developer

The Independent UK

Stock market today: Asian shares mostly lower after Wall Street retreat deepens

Shares in Asia are mostly higher, shrugging off a sharp decline on Wall Street that took benchmarks back to where they were in June

The Times of India

China puts Evergrande’s billionaire founder under police control

BEIJING: Hui Ka Yan, the billionaire chairman of beleaguered property developer China Evergrande Group, has been placed under police control, according to people with knowledge of the matter.

Fortune

Chinese social media censored a top economist for his bearish predictions. He now warns that China's property crisis will take a decade to fix

Hong, now chief economist for a Shanghai-based hedge fund, thinks China would be lucky if the real estate sector halves in size.

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news in one place.

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The Times of India

Teetering China property giants undercut Xi Jinping’s push to end crisis

Fresh drama at property developers including China Evergrande Group is jeopardizing President Xi Jinping’s latest efforts to end the housing crisis.

Fortune

How many ‘vacant homes’ does China have right now? A former statistics bureau official has an eye-opening prediction

China’s housing oversupply is far worse than previously reported, the country’s former statistics bureau deputy head says.

Barchart

Is China’s Property Debt Crisis Set to Worsen?

A multi-year downturn in China’s property market looks to continue as a raft of rescue measures from Chinese authorities have fallen flat. Disappointing home sales in China’s largest cities suggest that policy support measures have failed to turn around buyer sentiment. There are fears that China’s property debt crisis will...

The Independent UK

Stock market today:

Shares are mostly lower in Asia, with Tokyo's markets closed for a national holiday

The Independent UK

Chinese police detain wealth management staff at the heavily indebted developer Evergrande

Police in a southern Chinese city say they have detained some staff at China Evergrande Group’s wealth management unit in the latest trouble for the heavily indebted developer

The Guardian - UK

Country Garden shares jump after Chinese developer strikes debt deal

European stocks hit three-week high as China’s government tries to prop up ailing economy

The Guardian - AU

Chinese developer Country Garden reports $6.7bn loss amid fears of another Evergrande

Group warns that if its financial performance ‘continues to deteriorate’ it faces possible default after huge half-year losses

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