Shares and bonds of Chinese real estate companies slid on Thursday, reflecting uncertainty about how a debt crisis will play out at China Evergrande Group and the wider property sector as another developer was hit by a rating downgrade.
Shares and bonds of Chinese real estate companies slid on Thursday, reflecting uncertainty about how a debt crisis will play out at China Evergrande Group and the wider property sector as another developer was hit by a rating downgrade.
Johnson & Johnson said on Thursday its newly created unit that was established to hold and manage claims in the Baby Powder litigation, has filed for voluntary Chapter 11 bankruptcy protection. (Reporting by Amruta Khandekar; Editing by Maju Samuel)
Debt-saddled Chinese property firms took heavy fire in bond markets on Tuesday, after the poster child of the sector's woes, Evergrande Group, missed its third round of bond payments in as many weeks and others warned of defaults.
Offshore bondholders of beleaguered developer China Evergrande Group were on Monday bracing for news on more than $148 million in looming bond coupon payments after the company missed two coupon deadlines last month.