Evergrande’s weak controls and poor management decisions were to blame for a funding arrangement that led banks to seize $2 billion of deposits held by a subsidiary of the Chinese property giant, an investigation found
China Evergrande Group’s weak controls and poor management decisions were to blame for a funding arrangement that ultimately led banks toThe property giant used deposits from six units of Evergrande Property Services Group Ltd.
, a separate Hong Kong-listed company, to borrow money between late December 2020 and early August 2021, when the developer was in need of capital. It was part of a complicated financing arrangement that involved dozens of third-party companies and loans from multiple banks.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dear Abby: Should I tell my friend what her husband does at night?If she finds out some other way, it won’t look good for me.
Read more »
Investors back off from the housing market, buying half as many homes than a year ago, Redfin saysInvestor home purchases fell 46% year-over-year in the fourth quarter, a new report finds.
Read more »
Report: Two classic S.F. companies want to go publicHow much will karma points count for on the public market? Reddit might find out. The company is looking into an IPO this year.
Read more »
1 in 10 new drugs don't achieve their main goals despite FDA approval, study findsOne in 10 new drugs were cleared by federal drug regulators in recent years based on studies that didn't achieve their main goals, a new study shows.
Read more »
Pandemic tax credit lifted thousands of NYC children out of poverty, report findsAbout 120,000 children in NYC moved out of poverty in 2021 due to a temporary expansion of a federal program put in place at the height of the pandemic, according to a new report. Republicans and Democratic Sen. Joe Manchin refused to extend the program.
Read more »
Traditional values backed by two-thirds of American voters, poll findsTwo-thirds of American voters said they respect those whose beliefs are consistent as opposed to people who seek to match current cultural trends, a Summit Ministries survey revealed Tuesday.
Read more »