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Debt Troubles

All articles tagged with #debt troubles

business1 year ago•1 min saved

"Chinese Property Developer Shimao Faces Liquidation Suit as Gold Hits All-Time High"

Shanghai-based property giant Shimao Group faces a liquidation petition from a Chinese state-owned bank over a financial obligation of approximately $204 million, as the company's debt troubles continue amid China's crackdown on excessive borrowing by developers. This comes as China's real estate sector grapples with numerous defaults, with Evergrande, the world's most-indebted property developer, already ordered to liquidate by a Hong Kong court, raising concerns about the impact on investors, workers, and homebuyers.

via CNN|

#business #chinese-property #debt-troubles

business-automotive1 year ago•1 min saved

"Fisker's Survival Strategy: Slashing Ocean SUV Prices by 39%"

Electric vehicle startup Fisker has slashed the prices of its 2023 electric Ocean SUV models by up to 39% in an effort to boost demand and address its financial challenges. The company's decision to reduce prices comes after failed talks with a major automaker and a looming debt default. Fisker aims to raise funds to meet its debt obligations and is exploring strategic options, including restructuring and capital market transactions. The price cuts are part of the company's efforts to navigate its uncertain future in the competitive electric vehicle market, where it competes with Tesla's Model Y SUV and other mid-size electric SUVs.

via Yahoo Finance|

#business-automotive #debt-troubles #electric-vehicles

economy2 years ago•4 min saved

China's Debt Troubles: Is History Repeating Itself?

Moody's Investors Service has raised concerns about China's debt troubles, drawing parallels to Japan's bubble-era crisis. The warning comes as China's default-plagued property sector and hidden debt pose significant risks. The country's prioritization of fiscal and monetary stimulus over structural reform is also worrying. China's deflationary environment and limited fiscal maneuverability further compound the challenges. While China has dismissed the downgrade threat, it must heed the lessons from Japan's past and take necessary measures to avoid a financial crisis that could have unprecedented global repercussions.

via Forbes|

#china #debt-troubles #deflation

entertainment2 years ago•1 min saved

NFL Star Kroy Biermann Tempted by $150k Offer from Vegas Male Strip Club

Former NFL player Kroy Biermann has been offered $150,000 by a male strip club in Las Vegas to perform a live strip tease for 15 minutes, give lap dances, and ride a mechanical bull shaped like a golden boner. Biermann, who is facing financial difficulties amid his divorce from reality TV star Kim Zolciak, has not yet accepted the offer but the money could help alleviate his debt.

via TMZ|

#debt-troubles #entertainment #financial-struggles