China South City Holdings said it would not have enough cash to pay interest on its foreign-currency debt this month, as the property developer struggles to win the necessary support from creditors to restructure five bonds totalling $1.35 billion maturing in 2024, reports the South China Morning Post. The state-backed developer said holders of 69.8% of…
Canadian shares are likely to open on a mixed note Monday morning, tracking commodity prices, and Asian and European stocks. With data on Canadian consumer and producer price inflation for the month of November due on Tuesday, the mood is likely to remain a bit cautious.
The major U.S. index futures are currently pointing to a moderately higher open on Monday, with stocks likely to add to the strong gains posted last week. The markets may continue to benefit from recent upward momentum, which has propelled the Dow to new record highs.
Asian shares ended mostly lower on Monday after New York Fed chief Williams said that a March cut seems 'premature', tempering market speculation about imminent rate cuts.