Wiped out the last of its gains made for the year so far. Some of the heaviest losses came in from the big tech stocks which sent the Nasdaq Composite to a Market Leading Loss of nearly 1. 9 . Shares of chinese real estate Giant Evergrande jumped by 28 as trading resumed in hong kong, after being halted last week. We will put up those figures for you as well, and as you can see the debt laden Developers Stock market valuation has fallen by almost 99 sincejuly valuation has fallen by almost 99 since july 2020. Valuation has fallen by almost 99 sincejuly 2020. We should also point out that it is a penny stock at this stage, just to put those numbers in context as well. 0ver to put those numbers in context as well. Over the last year, it has come to light that the Evergrande Company is the worlds most indebted developer, with liabilities at over 300 billion. But its not alone. 0thersmaller over 300 billion. But its not alone. Other Smaller Developers have also defaulted on their debts, le
The dow wiped out the last of its gains made for the year so far. Shares of chinese real estate Giant Evergrande jumped by 28 as trading resumed in hong kong, after being halted last week. We will put up those figures for you as well, and as you can see the debt laden Developers Stock market valuation has fallen by almost 99 since july 2020. We should also point out that it is a penny stock at this stage, just to put those numbers in context as well. Over the last year, it has come to light that the Evergrande Company is the worlds most indebted developer, with liabilities at over 300 billion. But its not alone. Other Smaller Developers have also defaulted on their debts, leaving unfinished building projects across the country. The Chinese Government has announced more support for real estate companies, including encouraging banks to extend the repayment periods on loans. The Property Market accounts for around a quarter of the worlds second largest economy. That is why it is all the m
We start in the us, where shares of meta, hello. If you are justjoining us, you are in time with the top business stories. We start in the us, where shares of meta, the owner of facebook, instagram and whatsapp plunged in after hours trading after its forecasts disappointed wall street. Investors are concerned the huge amount meta is spending on Artificial Intelligence may not translate into higher profits. Lets show you the details. When it comes to how much money meta is making, profits came in at 12 point 4 billion in the first three months of the year. Thats more than double the amount it made this time last year, and better than expected. But heres one of the numbers worrying investors, meta expects its costs to rise to almost 100 billion this year, as it invests heavily in al and virtual reality. Coupled with a forecast that revenues will barely grow in the Current Quarter that sent shares plunging some 13 in after hours trading. Wiping as much as 160 billion off its stock market
Markets. And well be getting the inside track on one start up that is taking used batteries and giving them a second life. As the boss of United Airlines, we wa nt to as the boss of United Airlines, we want to know when have you wished youd apologised sooner . Just use the hashtag bbcbizlive. Welcome to the programme. As south africas president jacob zuma celebrates His 75th Birthday, the festivities may be rather more low key than usual. In less than a week, the countrys members of parliament are scheduled to hold a vote of no confidence against the president. Why . It comes after he ousted some of his key political opponents in a recent cabinet reshuffle. Today, members of the public are expected to take to the streets in protest at the move, but mr zumas decision also has big implications for the economy. South africa has been downgraded to junk status by two of the leading debt ratings agencies, fitch and s p. They argue that the reshuffle will hamper the countrys efforts to manage