Latest Videos
The information you requested is not available at this time, please check back again soon.
New York Community Bancorp Inc. has had one of the most tumultuous quarters in recent banking history. Its first-quarter earnings will probably reveal more about impacts from the drama — and management’s plan to move forward.
Donald Trump’s longtime personal assistant, who worked for his real estate empire for decades, told a jury that she has a “vague recollection” of seeing Stormy Daniels at Trump Tower sometime before 2015.
The delinquency rate for US small businesses climbed to a three-year high this month, reflecting the impact of rent spikes and declining revenue, according to a monthly survey.
Apollo Global Management Inc., KKR & Co. and Stonepeak may inject billions of dollars into a joint venture that will help fund Intel Corp.’s semiconductor fabrication facility in Ireland, according to people with knowledge of the matter.
Cava Group Inc. is planning to further expand its footprint in the Chicago area and other areas of the Midwest, making a contrarian bet that the region will reverse population declines that have plagued it in recent years.
Dec 5, 2021
, Bloomberg News
(Bloomberg) --
Chinese developer Sunshine 100 China Holdings Ltd. defaulted on $179 million of debt and interest payments due Sunday as the pain of higher borrowing costs hits indebted companies across the sector.
Sunshine 100 said in a filing that it won’t be able to repay the $170 million of principal and more than $8.9 million of interest on its 10.5% senior notes due 2021. Sunshine 100 said in August that it wasn’t able to repay the principal, premium and accrued interest of its 2021 bonds. The company’s default will also trigger provisions under some other debt instruments.
“Owing to liquidity issues arising from the adverse impact of a number of factors including the macroeconomic environment and the real estate industry, the company is not able to repay the principal amount of the notes and the accrued but unpaid interest,” Sunshine 100 said in a filing.
Clock Is Ticking on China Evergrande’s Debt Crisis: QuickTake
The default highlights the ongoing stress for developers amid ongoing fears that the giant China Evergrande Group could default on its liabilities. Rising Chinese junk dollar bond yields has made it difficult for distressed developers to refinance their maturing debt. That helped contribute to a wave of defaults in October.
©2021 Bloomberg L.P.
