China property giant Evergrande admits debt crisis as protesters besiege HQ

Disgruntled investors and homebuyers voice their anger at headquarters as company appoints advisers and says firesale of assets won’t cover debts

Property giant China Evergrande Group has said that it cannot sell properties and other assets fast enough to service its massive $300bn debts, and that its cashflow was under “tremendous pressure”.

Only hours after angry investors besieged its Shenzhen headquarters and the company denied it was set for bankruptcy, Evergrande issued a statement to the Hong Kong stock exchange saying that a significant drop in sales would continue this month, which was likely to further deteriorate its liquidity and cash flow.

Continue reading…

Breaking news from the Washington Post

Deportees land in Port-au-Prince: ‘Nobody told us we were going back to Haiti’

Breaking news from the Guardian

Emmys 2021: the winners, the losers, the speeches – live!

Breaking news from the Telegraph

‘Human swan’ paramotorist seriously injured and support staff member killed in accident

Breaking news from New York Times

Jill Biden Is Chasing the President’s Most Elusive Campaign Promise: Unity

Breaking news from the Washington Post

Deportees land in Port-au-Prince: ‘Nobody told us we were going back to Haiti’

Breaking news from the Guardian

Emmys 2021: the winners, the losers, the speeches – live!

Breaking news from the Telegraph

‘Human swan’ paramotorist seriously injured and support staff member killed in accident

Breaking news from New York Times

Jill Biden Is Chasing the President’s Most Elusive Campaign Promise: Unity

Breaking news from South China Morning Post

Hong Kong elections: just 1 opposition-leaning candidate wins seat on 1,500-strong Election Committee

Breaking news from the Times of India

A ‘turbaned Dalit’, Channi ticked all right boxes for Cong

Breaking news from the Washington Post

After 20 years of waging religious guerrilla warfare, Taliban fighters in Kabul say they miss the battle