Beleaguered Sydney home builder J+CG: Building & Construction Company has entered administration, owing tens of millions to both creditors and customers due to alleged building defects, SkyNews Australia reported. The family-owned company began operations in 1994, and constructed multi-storey apartment buildings, office complexes and commercial and retail spaces.
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The U.S. and China agreed to a preliminary plan to ease trade tensions, which could revive the flow of sensitive goods between the world’s two largest economies, Bloomberg News reported. American and Chinese negotiators in London said both sides agreed on a framework on how to implement the consensus the two sides reached in the prior round of talks in Geneva. The U.S. and Chinese delegations will now take the proposal back to their respective leaders, according to China’s chief trade negotiator Li Chenggang. While full details of the pact weren’t immediately available, U.S.
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Bank of Japan officials are ramping up calls to keep pace with rapid developments around digital currencies that may accelerate a shift to cashless payments in a country better known for its belief that "cash is king," Reuters reported. Once seen as a society favouring physical currency, Japan saw the ratio of cashless payments rise to 42.8% in 2024, up from 13.2% in 2010 and hitting the government's 40% goal a year earlier than targeted, government data showed.
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The Mumbai bench of National Company Law Tribunal (NCLT) has allowed a 90-day extension in the ongoing consolidated corporate insolvency resolution process (CIRP) of Lavasa Corp beginning May 29. The planned city project is undergoing a fresh CIRP after the NCLT, in September 2024, directed that the entire process be restarted, following the successful bidder's failure to implement the approved resolution plan within the specified time frame.
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China's consumer prices continued their four-month deflationary streak in May 2025, falling 0.1% year-on-year. This slight dip, which matched the previous two months and was a smaller decline than the 0.2% forecast, underscores persistent issues such as U.S. trade tensions, sluggish domestic demand, and anxieties about job security, SeekingAlpha.com reported. On a monthly basis, the CPI declined by 0.2% in May, reversing a 0.1% gain in April and indicating the third monthly drop so far this year.
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Marelli Holdings, a Japanese auto parts supplier owned by private equity firm KKR, is considering filing for Chapter 11 bankruptcy protection in the United States, Kyodo news agency reported on Saturday, according to Reuters. Marelli, a key supplier to embattled Japanese automaker Nissan Motor, is looking into the chapter 11 option to ensure its business operations won't be halted even if its restructuring talks with creditors fall through.
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