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Chinese developer Sunac China makes first principal bond payment after dollar default
... According to an exchange filing on Friday night, Sunac China will make the first principal payment on that date. The payment news comes a day after Sunac China defaulted on dollar debt, highlighting the growing divergence between the treatment of global ... ... lenders. Sunac China has $7.7 billion in outstanding dollar bonds and the equivalent of $3.1 billion in local notes, according to Bloomberg -compiled data. One of the country's biggest property firms defaulted when the company said it didn't pay a $29.5 million ...
Updated: 05/13/2022
Robinhood’s CEO Sam Bankman-Fried buys 7.6% stake
... tried and failed to find a way to win investor approval. It needed only a vote of confidence from a billionaire. For months, Bloomberg Robinhood Markets Inc. has tried and failed to find a way to win investor approval. It needed only a vote of confidence ... ... struggling online brokerage, which has lost 77% since its July public debut. The stock was trading at $8.56 on Thursday after the news led to an immediate surge. The shares rose to $10.56 in premarket trading as of 8: 16 a.m. Friday in New York after climbing ...
Updated: 05/13/2022
Bank of England to raise interest rates despite sluggish growth
... low levels of unemployment and competition for workers could feed into longer price rises. Inflation, which hit 7 per cent in March, is expected to exceed 10 per cent in October when the energy price cap is lifted for the second time. Ramsden told Bloomberg News that we're not there yet in terms of how far monetary policy has to tighten on the basis of my current assessment of prospects. I am very supportive of the forward guidance that there may need to be tightening in the coming months. Given what we ...
Updated: 05/13/2022
Jerome Powell says Fed likely to raise interest rates by half percentage point at next two meetings
The central bank is likely to raise interest rates by half percentage point at each of its next two meetings, while leaving open the possibility it could do more, according to Jerome Powell, Chair of the Bloomberg Federal Reserve Reserve Reserve Fed Reserve Reserve The central bank is likely to raise interest rates by half percentage point at each of its next two meetings, while leaving open the possibility it could do more, according to Jerome Powell ...
Updated: 05/12/2022
Mary Daly backs Fed rate hike in next 2 meetings
..., adding that she d like to see financial conditions tighten further. None More than $200 billion has been spent on the Cryptocurrency Market in a Day. Markets Wrapped Around the US Stocks Almost Wipe Out Losses Into the Close: In an interview with Bloomberg News , Daly said that going up in 50 basis-point increments makes sense and there is no reason for the economy to stop doing that in the next couple of meetings. She stated that a 75 basis-point increase, which has been the subject of speculation as ...
Updated: 05/12/2022
Hong Kong steps in to prop up its dollar
... of the threshold in recent weeks and crossed over late on Wednesday in New York trade. The Hong Kong Monetary Authority HKMA then intervened, calling the move normal operations in accordance with the design of the LERS linked exchange rate system. Bloomberg News said that the HKMA released some HK $1.59 billion US $203 million to prop up the currency. The dollar peg has helped Hong Kong weather multiple economic storms, including emerging more quickly than many others from the Asian financial crisis in 1997,...
Updated: 05/12/2022
China's Hetian Packaging Co. plans $1 billion sale, sources say
... industries. It has about 10 manufacturing locations in Asia, North America and Europe and serves more than 250 customer brands, according to its website. BPEA was poised to suspend the sale of HCP in March due to concerns over valuation, according to Bloomberg News at the time. It had been looking for $1.5 billion for the business, which had drawn interest from private equity firms such as Primavera Capital , PAG and DCP Capital. An earlier attempt to sell HCP was stopped in 2020 due to the Covid -19 outbreak....
Updated: 05/12/2022
New York Times reportedly to buy sports news site The Athletic
The New York Times Times NYT NYT is reportedly agreeing to purchase sports news site The Athletic for $550 million. The New York Times NYT -- Get New York Times Company Class A Report is reportedly agreeing to purchase sports news site The Athletic for $550 million. The news came from The Information , which cited a source ...
Updated: 05/12/2022
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