The property giant is effectively declaring that it has defaulted on its debt, becoming one of the biggest casualties of China’s deepening property crisis.
Category: Credit and Debt
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Stocks Slip as Strong Jobs Report Pushes Bond Yields Higher
The report for September showed surprising strength in the economy, but that strength has become a cause for concern among investors.
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Rates Are Jumping on Wall Street. What Will It Do to Housing and the Economy?
A run-up in longer-term interest rates could help the Federal Reserve get the economic cool-down it wants — but it also risks a bumpy landing.
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Supreme Court Skeptical in That Could Hobble Consumer Watchdog
The justices heard a challenge to the way Congress funded the Consumer Financial Protection Bureau but seemed persuaded that it was constitutional.
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WeWork Misses $95 Million in Interest Payments
The skipped payments, another signs of the company’s financial troubles, are intended to start negotiations with lenders, it said.
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Consumer Agency Moves to Ban Medical Debt From Credit Reports
Millions of Americans owe money to doctors and hospitals, and that debt can affect their ability to get loans or even a job.
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How West Africa Can Reap More Profit From the Global Chocolate Market
Resource-rich countries like Ghana are often cut out of lucrative parts of the business like manufacturing. The “fairchain movement” wants to change that.
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China Evergrande Suspends Trading as New Trouble Roils Property Market
The real estate firm halted critical work to settle its debts and investors dumped their stock amid news executives were under suspicion by the authorities.
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The Rising Costs of Owning a Car
Everything is going up — buying, financing, insurance and maintenance. The average annual cost of ownership, by one estimate, is $12,000.
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The Strike Could Mean a Rise in Car Prices for Consumers
If the U.A.W. strike lasts long enough, it could cut the supply of vehicles and push prices even higher.
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Beware Companies Selling Credit ‘Repair’ Services
Consumers have a right to dispute mistakes on their credit reports. But if they’ve made late payments, that can’t be erased, consumer experts say.
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What Happened When I Stopped Paying My Private Student Loans
One borrower’s story about falling behind on payments, defaulting on his private student loans and waiting out the statute of limitations on debt collection.