As more Chinese property developers move towards restructuring billions of dollars of debt, their offshore creditors are expected to face another setback - the prospects of revamp terms being tightened due to a worsening outlook for the county's real estate sector, Reuters reported. So far, developers accounting for 40% of Chinese home sales have defaulted on their debt obligations since 2021, according to JPMorgan. Those defaulted companies, mostly private, have issued around $110 billion worth of high-yield offshore bonds.

Israel has frozen cryptocurrency accounts used to solicit donations for the Palestinian militant group Hamas on social media, police said on Tuesday, Reuters reported. Hamas launched devastating attacks from Gaza into Israel on Saturday, in one of the most serious escalations in the Israel-Palestinian conflict in years. "According to suspicions, with the outbreak of the war, Hamas' terrorist organisation initiated a fundraising campaign on social networks, urging the public to deposit cryptocurrencies into their accounts," a police statement said.

Finnish e-bike drive system Revonte has filed for bankruptcy and is selling its IP, Tech.EU reported. The startup successfully raised a €2 million Seed round in 2019 but has struggled to secure further funding forcing the decision. The unease in the e-bike market could be a result of the slowdown of sales post-Covid boom but it might also be about time there is some consolidation in the market — for companies like Revonte their hand has been forced in these trickier fundraising times.

After weathering decades of deflation and stagnant growth, Japan is seeing an investment boom that has made apartments in central Tokyo unaffordable for young Japanese professionals, Reuters reported. The flood of investment drove the average price for a new condominium in central Tokyo up 60% to a record 129.6 million yen ($865,000) in the first half of this year, according to the Real Estate Economic Institute. For locals, the surge in prices has made Tokyo the second most unaffordable city worldwide, only behind Hong Kong, according to a UBS global real estate report.

New Zealand-based Cooks Coffee Company plans to place its Triple Two coffee franchise business in the UK into an insolvency process, VerdictFoodService.com reported. For this, the company intends to appoint administrators for its franchise business, which includes Triple Two Holdings and its subsidiaries. In a statement, Cooks Coffee Company said: “Triple Two was growing rapidly before the Covid-19 pandemic and had shown continuing momentum in FY22.

Some pilots have left Vietnam's restructuring Bamboo Airways in the last two months after late payments in salaries, Reuters reported. About 30 foreign pilots departed during that time, more than 10% of the airline's total pilot staff in June, according to one of the people, who declined to be identified as the information was not public. A second person said some pilots had recently quit and others were dismissed. Embattled Bamboo, Vietnam's No.

The Bank of Canada on Tuesday said recent volatility in headline inflation is not unusual but the underlying trend shown by core measures was inconsistent with bringing inflation down to the 2% target, Reuters reported. Earlier on Tuesday, August inflation figures showed a jump in the headline number to 4.0% from 3.3% in July - higher than most analysts had forecast - on rising gasoline prices. "Ups and downs of the size we've seen in the past couple of months are not that unusual," Deputy Governor Sharon Kozicki said in a speech at the University of Regina in Saskatchewan.

Canada’s rate of inflation accelerated by more than expected for the second straight month, but the gains that are largely driven by higher gasoline prices may allow the Bank of Canada to look past the setback, Bloomberg News reported. The consumer price index rose 4% in August from a year ago, the quickest pace since April, following a 3.3% increase in July, Statistics Canada reported Tuesday in Ottawa. That’s faster than the median estimate of 3.8% in a Bloomberg survey of economists. On a monthly basis, the index rose 0.4%, double the expectations.

Canada's Canopy Growth said yesterday that it would seek bankruptcy protection for its sports nutrition products' segment BioSteel, in the pot producer's latest attempt to rein in costs. Canopy's shares rose 9.6% in early trade after the company said it expects to lower debt by C$95 million over the next two quarters after starting legal proceedings under the Companies' Creditors Arrangement Act in a Canadian court in Ontario and seeking recognition under chapter 15 of the U.S. Bankruptcy Code.

The global economy is shifting toward a higher-for-longer period for interest rates, making the coming flurry of monetary decisions across the developed world pivotal in mapping out that plateau, Bloomberg News reported. In the next week or so, borrowing costs will be set for seven of the world’s 10 most-traded currencies — including the dollar and the euro — with a picture of prolonged policy constriction set to emerge. There’s suspense on the outcome for some of those decisions, with the European Central Bank’s Thursday meeting too close to call.