China's property sector stalked by Evergrande default fears

HONG KONG (Reuters) -Debt-saddled Chinese property firms took heavy fire in bond markets on Tuesday, after the poster child of the sector’s woes, Evergrande Group, missed its third round of bond payments in as many weeks and others warned of defaults. A wave of developers face payment deadlines before the

Dimon, business leaders warn debt ceiling brinkmanship risks 'catastrophe'

WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen, JPMorgan Chase &Co Chief Executive Jamie Dimon and Nasdaq CEO Adena Friedman warned on Wednesday of financial and economic catastrophe if Congress fails to raise the debt ceiling.JP Morgan Chase CEO Jamie Dimon is seen on the video screen as U.S. President Joe

HSBC, StanChart may face secondary shockwaves from Evergrande crisis -analysts

LONDON (Reuters) – HSBC and Standard Chartered could face spillover damage to their profits and balance sheets from the debt crisis enveloping China Evergrande Group even though the two banks say they have limited their direct exposure, analysts have warned.FILE PHOTO: Chinese flags are seen near the logo of the

Fed's Powell: Don't assume Fed can thwart default fallout

(Reuters) – The Federal Reserve may not be able to shield the economy and financial markets from the effects of a U.S. debt default, the central bank’s chief said on Wednesday as he urged Congress to raise the country’s debt limit to avoid that catastrophic risk.FILE PHOTO: Federal Reserve Chair

This Is the Plan to Rescue Poor Countries From the Pandemic

A proposal advanced by the International Monetary Fund aims to supply the developing world with extra money to buy vaccines, pay down debt and expand relief programs. By Peter S. Goodman and Alan Rappeport In a global economy defined by extreme forms of inequality, the pandemic has widened the divide.

American Airlines to offer $5 billion in notes to repay government debt

FILE PHOTO: American Airlines passenger planes crowd a runway where they are parked due to flight reductions to slow the spread of coronavirus disease (COVID-19), at Tulsa International Airport in Tulsa, Oklahoma, U.S. March 23, 2020. REUTERS/Nick Oxford(Reuters) – American Airlines Group Inc said on Monday it intends to privately

Argentina gains room to breathe with crucial debt deal: for now

BUENOS AIRES/NEW YORK (Reuters) – Argentina has gained breathing room after restructuring almost the entirety of $65 billion in foreign bonds, though it now faces a huge challenge to revive growth and repair government finances before the oxygen runs out. The South American grains producer said on Monday it had

Saks owner Hudson's Bay drops financing plan: sources

NEW YORK (Reuters) – Hudson’s Bay Co, the owner of luxury department store Saks Fifth Avenue, has ditched its plan to raise up to $900 million in debt after prospective investors requested a higher interest rate than the company was willing to pay, people familiar with the matter said on

Argentina to unveil new debt offer to creditors, push deadline to late August

BUENOS AIRES (Reuters) – Argentina is set to unveil a new debt restructuring offer that will be kept open until the end of August, President Alberto Fernandez told local radio on Sunday, as the government seeks to strike a deal despite rising tensions with creditors. “The offer will be known

Delta Air expects to have $10 billion in cash, cash equivalents by end-2020

(Reuters) – U.S. carrier Delta Air Lines (DAL.N) said on Wednesday it expects to have $10 billion in cash, cash equivalents, short-term investments and borrowing capacity by year-end. The airline also estimated second-quarter revenue would plunge by 90%, compared with a year earlier. (bit.ly/3cRnTmX) Source: Read Full Article