Through the us legal system and of course in china as well. I think what it means also is that amongst all of the various imbalances in the economy in china right now, the property sector might be the weight on the economy that lasts the longest simply because it is going to be such a slow slog in terms of restructuring of this debt. We have seen pictures of unfinished buildings, families and even sometimes having to squat in those buildings because they cannot afford to pay the rent and pay their mortgage on these properties. What can china do to try to boost this up . Somehow the key to this issue right now is to complete Unfinished Projects because this will at least keep some of the financing flowing. As you mentioned, the many, many projects are presold and the households that buy those properties they make Mortgage Payments even if they are not able to take delivery of the product but as construction has come to a halt, they stop making those and that means no Income Accruing to
Bankruptcy protection in the us under chapter 15 which governs Foreign Companies in the us, protecting them from creditors that might want to sue them. You have probably heard of chapter 11. That typically governs American Companies but it is chapter 15. According to Court Filings these negotiations are ongoing in hong kong, canaanite and British Virgin islands. We have reached out to evergrande that have not had conversation. To those who have wondered if they have ever thought of evergrande before it is chinas huge property giant. They have about 1300 projects across 280 different cities in china and they invest in everything, not just property. They have an electric vehicle maker and a football club, but as i mentioned, 2021 was when we saw the Company Default on its debts, sending shockwaves across the Global Financial system and triggering a string of defaults from builders who owed money to evergrande or expected them to complete some contracts. We have seen 40 or the companies t
Higher Profit Margins than expected as offered fewer discounts. All that bodes well for walmart which is due to report a 4 rise in sales. Results from the Worlds Largest retailer should also a glimpse into demand for back to school items. Traders are hoping that despite higher borrowing costs, it will show that us shoppers are still willing to spend on essentials. Staying with retail jd. Com Beat Analyst Forecasts for Second Quarter revenue, which rose more than 7 to nearly 40 billion. The chinese e commerce giants Focus On Lower priced products paid off in the fight for customers amid an economic slowdown. The company said it attracted more vendors to its platform, helped by lower thresholds and costs for them to join, and that users shopped more frequently as its Product Range expanded. It was a different story over at tencent where Earnings Results came in below estimates in the Second Quarter. Revenue grew 11 to just over 20 billion. Tencent s core Gaming Business experienced weake
More of their essentials at walmart, according to the companys results for the three months to the end ofjuly. The worlds biggest retailer is using its reputation for lower prices to attract consumers looking to buy anything from food to school shoes. Walmart s net income for the quarter jumped by about 33 to nearly 8 billion. Lets get more now with Michelle Fleury in new york. Great results then for walmart others rivals havent fared so well. Whats the secret . Imean, i mean, they are known as a low cost grocer, the worlds biggest retailer proving once again their ability to attract shoppers at a time when they are facing a great deal of pressure financially in terms of higher prices, but in terms of higher Interest Rates which have made Lending Conditions tougher. I think that really has helped walmart through this. They are not onlyjust appealing to their traditional customer base, but they are also appealing to those more affluent customers who are being more cautious and turning t
Welcome news, but a long way to go. What happens now . Welcome news, but a long way to go. What happens now . Good morning. This is the first step what happens now . Good morning. This is the first step that what happens now . Good morning. This is the first step that does what happens now . Good morning. This is the first step that does indicate is the first step that does indicate they could be a socialist led government in the future weeks, but it was an inconclusive General Election with a hung parliament, so there is still a chance there will be a Repeat Election in a few months. Nothing is clear yet, but we know that might become certainty. We will see how this changes in the next few weeks. In principle there is a deal between the socialist. We will find out pretty soon. This is a deal between the socialist. We will find out pretty soon. Will find out pretty soon. This has all weighed will find out pretty soon. This has all weighed quite will find out pretty soon. This has all w