Bondholder says has not received payment as grace period ends Country Garden doesn39;t expect to meet all offshore obligations Company hoping for holistic solution to difficulties HONG KONG, Oct 18 Reuters A Country Garden 15 million coupon payment deadline has expired without word of payment, fuelling expectations that China39;s biggest private property developer has defaulted on […]

FRANKFURT, Oct 18 Reuters The European Central Bank took a further step on Wednesday towards launching a digital version of the euro that would let people in the 20 countries that share the single currency make electronic payments securely and free of charge. The ECB said it would start a twoyear preparation phase for the […]

Housing starts increase 7.0 in September Singlefamily starts rise 3.2; multifamily soar 17.1 Building permits fall 4.4; singlefamily increase 1.8 WASHINGTON, Oct 18 Reuters U.S. singlefamily homebuilding rebounded in September, boosted by demand for new construction amid an acute housing shortage, but the highest mortgage rates in nearly 23 years could slow momentum and delay […]

Property sales, investment fall at doubledigit pace Property slowdown remains drag on economic growth BEIJING, Oct 18 Reuters China39;s property sales and investment posted doubledigit declines as efforts to support big cities failed to bolster confidence in an industry struggling to emerged from crisis, although the pace of contraction slowed. Property sales by floor area […]

WASHINGTON, Reuters Electric vehicle manufacturer Tesla on Tuesday urged the Biden administration to finalize much tougher fuel economy standards through 2032 than U.S. regulators have proposed. The National Highway Traffic Safety Administration NHTSA in July proposed raising Corporate Average Fuel Economy CAFE car requirements by 2 and by 4 for trucks and SUVs annually between 2027 and […]

SINGAPORE, Oct 18 Reuters The International Monetary Fund IMF downgraded its 2023 and 2024 growth forecasts for China, saying its recovery was losing steam and citing weakness in its property sector. The world39;s secondlargest economy is expected to expand by 5 this year and 4.2 next year, down from 5.2 and 4.5 in the IMF39;s […]