China Evergrande's electric vehicle group said on Monday a Chinese court had ruled that two of its subsidiaries should enter bankruptcy and be reorganised, sending the EV group's shares plunging 7.9%, the lowest since May 16, Reuters reported. The news about the subsidiaries of the embattled real estate developer's New Energy Vehicle operation came after creditors filed for the proceedings last month. Their filings did not spell out reasons.

China has given the green light to Anbang Insurance Group Co. Ltd. to start bankruptcy proceedings, marking the latest step in the government’s years-long efforts to manage the collapse of the sprawling financial conglomerate, CaixinGlobal.com reported. The National Financial Regulatory Administration, China’s top financial regulator, announced the in-principle approval on Friday.

Turkey’s headline inflation saw the sharpest drop in nearly two years in July, a slowdown largely due to base effects that officials may overlook as they focus on more immediate risks to prices, Bloomberg News reported. Data on Monday showed headline inflation slipped to 61.8% in July, from 71.6% the previous month. The median forecast of economists surveyed by Bloomberg was for 62%. Monthly price growth, the central bank’s preferred gauge, came in at 3.23% after a gain of 1.64% in June, more than estimated by analysts.

“Back in the day,” said Lim Hyung-kyu, a retired Samsung Electronics executive now in his 70s, “my weeks were Monday, Tuesday, Wednesday, Thursday, Friday, Friday, Friday,” the New York Times reported Mr. Lim joined Samsung, South Korea’s largest company, in 1976 and rose through the ranks to chief technology officer. For much of his 30-plus years at Samsung, working on the weekends was normal — and legal under the nation’s labor laws. “I didn’t mind,” Mr. Lim said. “It was fun for me.” Things are different now.

U.S.-based Glas Trust is asking an Indian court to not quash insolvency proceedings for ed-tech giant Byju's as lenders the trust represents are owed $1 billion, posing a new challenge for the Indian startup that was once the nation's biggest, the Economic Times of India reported. Byju's was valued at $22 billion in 2022 before being hit with many setbacks including boardroom exits, an auditor resignation and a public spat with foreign investors over mismanagement. The company has denied any wrongdoing.

Global burger chains to car manufacturers are increasingly feeling the pinch from a faltering recovery in the world's No. 2 economy, China, and are strapping in for a bumpy ride ahead, Reuters reported.

South Korea’s headline inflation picked up at a stronger-than-expected pace in July, reaccelerating due to higher prices for agricultural and oil products, after easing for three consecutive months, the Wall Street Journal reported. The benchmark consumer-price index rose 2.6% from a year earlier, following a 2.4% gain in June, the country’s statistics office said Friday. Compared with the prior month, the index rose 0.3% in July compared with the median forecast of a 0.2% increase. In June, it fell 0.2% from the previous month.

The founders of Byju’s have settled its Rs 158 crore payment arrears with the Indian cricket board, their counsel told the bankruptcy appellate tribunal Wednesday, as they sought to free the edtech firm from insolvency proceedings initiated on the sports body’s petition, the Economic Times of India reported. However, the Chennai bench of the National Company Law Appellate Tribunal (NCLAT) did not pass any order on Byju’s chief executive Byju Raveendran’s challenge to the insolvency proceedings, as a group of its U.S.

Bargain site Temu has won over hundreds of millions of customers around the world with its rock-bottom-priced hairpins and pet toys. Some suppliers say consumers’ gains are coming at their expense, WSJ Pro Bankruptcy reported. A throng of Chinese merchants who supply Temu stormed a company affiliate’s office on Monday in Guangzhou, southern China, to protest what they consider unfair penalties that left some bankrupt. Video clips provided by protesters showed scores of angry merchants at the office whistling and demanding a resolution, with police maintaining order.

A Montenegrin appeals court on Thursday upheld a ruling by a lower court to hand over a South Korean mogul known as “the cryptocurrency king” to his native country, rejecting a bid to extradite him to the United States, the Associated Press reported. The move follows a months-long legal saga in the case of Do Kwon, the Terraform Labs founder who was arrested in Montenegro last year. Both South Korea and the U.S. had requested Do Kwon’s extradition from Montenegro. Various Montenegrin courts in the past months have brought and overturned multiple rulings to extradite Kwon either to U.S.