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HONG KONG (AP) — A Hong Kong court on Monday ordered property developer China Evergrande Group to liquidate after it was unable to reach a restructuring deal with creditors.
China's debt-ridden property giant Evergrande has been ordered to liquidate by a court in Hong Kong.
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The S&P 500 is trading at a record and the Nasdaq is at its highest in two years. Alphabet shares reached a new pinnacle on Thursday, as did Meta and Microsoft, which ran past $3 trillion in market cap.
China has tightened its financial industry rules as the government tries to halt a deepening sell-off in the world's second largest economy.
Months after China Evergrande ran out of cash and defaulted in 2021, investors around the world scooped up the property developer’s discounted I.O.U.’s, betting that the Chinese government would eventually step in to bail it out.
SEOUL, South Korea (AP) — North Korean leader Kim Jong Un supervised test firings of new cruise missiles designed to be launched from submarines and also reviewed efforts to build a nuclear-powered submarine while reiterating his goal of building a nuclear-armed navy to counter what he portrays as growing external threats, state media said Monday.
SINGAPORE: Within just two years, the world had seen the value and trading volume of non-fungible tokens (NFTs) rising rapidly, before tumbling almost just as quickly.