One of China’s poorest provinces is testing Beijing’s mettle with a mountain of debt that local borrowers are struggling to repay, the Wall Street Journal reported. Investors worry it is a harbinger of another major debt crisis in the country, and believe the central government will have no choice but to defuse it. Cracks have been showing in the finances of Guizhou, a southwestern province with jaw-dropping landscapes and some of the world’s highest bridges.
Asia Pacific
Resources Per Country
- Afghanistan
- Armenia
- Australia
- Azerbaijan
- Bangladesh
- Cambodia
- China
- Cook Islands
- Cyprus
- Fiji
- Georgia
- Hong Kong
- India
- Indonesia
- Japan
- Kazakhstan
- Kyrgyzstan
- Laos
- Macau
- Malaysia
- Maldives
- Mongolia
- Myanmar
- Nepal
- New Zealand
- North Korea
- Pakistan
- Papua New Guinea
- Philippines
- Singapore
- South Korea
- Sri Lanka
- Taiwan
- Tajikistan
- Thailand
- Turkey
- Uzbekistan
- Vietnam
U.S.-based Micron Technology Inc. on Monday forecast a hit to revenue in the low-single to high-single digit percentage after a ban by China on sale of its memory chips to key domestic industries marked the latest in the Sino-American trade spat, Reuters reported. China's cyberspace regulator said late on Sunday that Micron, the biggest U.S. memory chipmaker, had failed its network security review and that it would block operators of key infrastructure from buying from the company. It did not provide details on what risks it had found or what products from the company would be affected.
Mizuho Financial Group Inc. will buy U.S. M&A advisory firm Greenhill & Co Inc. for $550 million including debt, the companies said on Monday, as Japan's No. 3 lender eyes a bigger share of the world's largest investment-banking fee pool, Reuters reported. The $15-per-share offer represents a premium of 121% to Greenhill's last closing price. Its shares had dropped nearly 40% over the 12 months till Friday's close as high interest rates weighed on dealmaking activity.