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China Builder Powerlong Defaults on Dollar-Bond Coupon Payment

China Builder Powerlong Defaults on Dollar-Bond Coupon Payment
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Chinese Builder Powerlong Defaults on Dollar-Bond Payment

(Bloomberg) Chinese builder Powerlong Real Estate Holdings Ltd. has defaulted on one of its dollar bonds as it struggles with sluggish sales and worsening liquidity. Most Read from BloombergSaudi Arabia Offers Iran Investment to Blunt Gaza WarCharlie Munger, Who Helped Buffett Build Berkshire, Dies at 99Henry Kissinger, Secretary of State in 1970s Crises, Dies at 100These Are the World's Most Expensive Cities to Live In Right NowBill Ackman Bets Fed Will Cut Interest Rates as Soon as First Qu

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Shares drop after default; Kaisa deal doubts: Evergrande update

The company and Kaisa Group Holdings were downgraded on Thursday to restricted default by Fitch Ratings.

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Missing Chips Snarl Car Production at Factories Worldwide

Missing Chips Snarl Car Production at Factories Worldwide Bloomberg 1/12/2021 Debby Wu © Bloomberg Cupra Formentor automobiles move along the production line at the Seat SA, a unit of Volkswagen AG, Martorell plant near Barcelona, Spain, on Tuesday, Sept. 29, 2020. European car sales plunged by nearly a fifth in August, dashing hopes that the industry was starting to recover from the pandemic and suggesting that the market could remain depressed through year-end. (Bloomberg) More than a year after its outbreak, the coronavirus keeps finding new ways to hit carmakers. Popular Searches After first wiping out auto demand, the virus is now hindering parts supply: chips used in vehicles are harder to come by because semiconductor manufacturers allocated more capacity to meet soaring demand from consumer-electronics makers such as Apple Inc.

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