Results for China
- Wanxiang Approved to Take Over Hybrid Maker Fisker Auto
China's Wanxiang Group won court approval Tuesday to take over failed luxury hybrid-car maker Fisker Automotive Inc. after successfully outbidding Hong Kong billionaire Richard Li in an auction, The Wall Street Journal reported. Mr. Li's ta ...
Daily Headline - global.abi.org - 02/18/2014 - 22:57 - 0 comments
- China Shadow-Bank Product Defaults As Coal Company Can't Repay
A high-yield investment product backed by a loan to a debt-ridden coal company failed to repay investors when it matured last Friday, state media reported on Wednesday, in the latest sign of financial stress in China's shadow bank sector, Reuters re ...
Daily Headline - global.abi.org - 02/12/2014 - 23:30 - 0 comments
- A Leading Chinese Economist Warns of a Difficult Year and ‘Dead’ Companies
Sounding warnings that could have been made 20 or even 30 years ago, one of China’s most renowned economists said the country’s economy faces a “very difficult” year as it continues confronting a host of problems that have intensified over the past decad ...
Daily Headline - global.abi.org - 02/11/2014 - 23:28 - 0 comments
- China to Create Unified Pension System
China pledged Friday to create a unified pension system to boost consumption and encourage labor mobility, a step toward empowering its vast rural poor, The Wall Street Journal reported. China's State Council, or cabinet, said it planned to crea ...
Daily Headline - global.abi.org - 02/09/2014 - 22:36 - 0 comments
- China Savers’ Penchant for Property Magnifies Bust Danger
Chinese households’ concentration of wealth in real estate is magnifying the danger to the world’s second-largest economy of any property bust, as the nation grapples with the consequences of its record credit surge, Bloomberg News reported. Some 66.1 pe ...
Daily Headline - global.abi.org - 02/04/2014 - 23:57 - 0 comments
- China's Suntech Power Plans U.S. Bankruptcy Filing
China's onetime solar-power giant Suntech Power Holdings Co. plans to file for bankruptcy protection in U.S. court as its leaders negotiate with the holders of more than $500 million in U.S. convertible bonds, according to people familiar with the m ...
Daily Headline - global.abi.org - 02/02/2014 - 21:31 - 0 comments
- Rating Agencies Criticise China’s Bailout Of Failed $500 Million Trust
Global rating agencies – often among the more sanguine voices on China – have warned that this week’s bailout of a soured $500m trust loan was a wasted chance to address rising moral hazard in the country’s shadow banking sector, the Financial Times ...
Daily Headline - global.abi.org - 01/30/2014 - 22:16 - 0 comments
- China Credit Repays Principal to Bailed-Out Trust Holders
China Credit Trust Co. started repaying investors in a high-yield product whose threatened failure spurred concern of further defaults and contributed to a sell-off in emerging-market stocks and currencies. Most clients in Shanghai, Guangzhou and Beijing ...
Daily Headline - global.abi.org - 01/29/2014 - 23:23 - 0 comments
- China Moves to Avert Shadow Lender's Default
A coal company facing repayment of a three billion yuan ($500 million) loan has received government permission to restart one of its mines as creditors and officials scramble to avoid a default that could batter confidence in China's loosely regulat ...
Daily Headline - global.abi.org - 01/23/2014 - 22:03 - 0 comments
- China's Elite Hiding Billions Overseas
Relatives of at least five current and former members of China's top leadership are shareholders in many offshore companies, allowing them to conceal their assets, according to a report from the International Consortium of Investigative Journalists ...
Daily Headline - global.abi.org - 01/22/2014 - 23:55 - 0 comments