Steward Health Files Chapter 11 After Medical Properties Deal
Steward Health Care System LLC filed for bankruptcy early Monday as it’s finalizing a rescue loan with landlord Medical Properties Trust Inc.
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Steward Health Care System LLC filed for bankruptcy early Monday as it’s finalizing a rescue loan with landlord Medical Properties Trust Inc.
Chinese shares and the onshore yuan climbed on their return from a holiday, with sentiment boosted by Beijing’s supportive policy stance.
One of China’s most-watched developers has told some investors that it readied cash for an upcoming yuan bond payment, a move that may boost a firm that’s faced concern about its liquidity amid a broader property debt crisis.
A Chinese program providing state guarantees to developer bonds will be put to the test this week, when payments come due from one of the most indebted builders.
Australia’s central bank will likely keep its key interest rate at a 12-year high and stick with it for much of the year to restrain inflationary pressures underpinned by a surprisingly tight job market.
May 30, 2023
BNN Bloomberg
,Now that all major Canadian banks have released their most recent quarterly earnings, one analyst said he is concerned about the health of Canada’s housing market due to the impact it could have on consumers.
Ebrahim Poonawala, the head of North American Banks Research at Bank of America Securities, said in an interview with BNN Bloomberg Tuesday that he is watching the housing market closely. However, he said the focus has more to do with the impact on consumers rather than the exposure of Canadian banks.
“If there is a significant negative impact on Canadian home prices and a more lasting impact on activity, we worry about what that means in terms of consumer behaviour,” Poonawala said.
“Losses within the mortgage market may be limited, but its impact on consumer spending is something that we are closely watching.”
However, he said that the market is resilient given supply and demand dynamics as well as the role of immigration.
You can watch the full interview with Poonawala at the top of this story.