Australian shares are set to start the week higher, after a rally in New York on bets that there’s no need for the US central bank to rush its taper exit.
Evergrande goes bust What next? macrobusiness.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from macrobusiness.com.au Daily Mail and Mail on Sunday newspapers.
The collapse of China's largest and most indebted property developer, Evergrande, is now official. And many are wondering what will happen next. Evergrande's default probably happened [.]
Ratings agency Fitch downgraded property developers China Evergrande Group and Kaisa Group on Thursday, saying they had defaulted on offshore bonds, while a source said Kaisa had started work on restructuring its US$12 billion offshore debt.