let s bring in our asia business correspondent, mariko 0i. just talk us through the data? well, firstly, we are still very much watching evergrande. is she has hit record lows yesterday after announcing it might not be able to meet some of its financial obligations a couple of weeks ago and of course last week it missed some payments, and the company has now entered a debt restructuring process with chinese authorities. but were still waiting for confirmation from the company or badging. meanwhile, as you said, china released a bunch of economic data and prices of newly built houses, they have their sharpest monthly fall in 6.5 years in the month of november. it has also fallen for a third straight month. i have to say, when i say the sharpest fall, we are still talking about a fall of 0.3%. so the situation is still tightly controlled by
badging. analysts expect prices to fall further, and if they do, buyers may not rush to buy new homes, and that would slow down sector even further and make the financial situation of those developers even worse. having said that, i ve been talking to a lot of analysts about how badging has been handling the situation very differently to how other free economies might have handled a similar situation. economies might have handled a similarsituation. i economies might have handled a similar situation. i guess the most obvious contrast is with lemon brothers bankruptcy in 2008, and how it is really opaque couch china has been handling the situation. lehmann brothers bankruptcy. it is really hard to know what is happening with evergrande. in terms of the impact on the rest of the economy, factories remain busy and continued to be done from disruption caused by the energy crisis, and there are some concerns about a renewed virus outbreak, consumers not feeling as domestic as economist
this year we are due to turnover a time start. social media has changed the way people operate their businesses because it essentially means anybody can start a business, anyone can market themselves, traditional advertising roots obviously cost you money upfront and as a small business, but is often not money you actually have. i spend a lot of my time filming videos so that people know who i am, know my business is, can connect with me, and that is, at the end of the day, what has made me sales. so is a small business, if you can face getting yourself on camera, and almost become a bizfluencer, that will really help you in the long run. now to asia, because china has released a slew of economic data today, which gives us some clues as to how consumers are feeling or how busy factories have been in the world s second biggest economy. but a lot of attention is on the property sector.
now we get some of the day s other business stories we are keeping an eye on. the ceo of uber technologies said the company is looking to sell its stake in chinese ride hailing firm didi. that comment was made at virtual fireside chat hosted by ubs on tuesday, but hasn t been officially confirmed by either company. the bbc is seeking comment from both didi and uber. shares of uber also jumped on tuesday after another remark that the rideshare company had its best week ever in terms of overall gross bookings last week. oil futures prices dipped after the international energy agency said the omicron variant is set to dent global demand recovery. the iea also said that it s lowering its forecast for oil demand by 100,000 barrels per day for next year. the price of brent crude is now hovering at about $73. apple is now requiring