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The Latest Breaking News from Evergrande

Living in ‘garbage time’: when 500 million Chinese change their spending habits, the world feels it

China’s economic rocket ride appears to be ending – or slowing, at least. Growth has declined from 8.4% in 2021 to 4.5% today, youth unemployment has climbed to 16.9%, and cities are filled with unfinished buildings after the collapse of property developer Evergrande in 2024.

The Conversation

China gives PwC record £47m fine and six-month ban over Evergrande

Accountancy firm accused of issuing false audits says it has sacked six partners and five other staff have left

The Guardian - UK

China Bans PwC For Six Months Over Evergrande Audit

Accountancy giant PwC was banned in China Friday for six months and slapped with a fine of $62.2 million over problems with its audit of beleaguered property company Evergrande.

International Business Times

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China hands PwC a 6-month ban and fine over audit of the collapsed developer Evergrande

Chinese authorities have banned the accounting firm PwC for six months and fined it over $56 million for its involvement in the audit of collapsed local property developer Evergrande

The Independent UK

PwC expecting six-month China ban over Evergrande audit

Company tells clients it also expects to receive a large fine following property developer’s collapse

The Guardian - UK

PwC, a ‘Big 4’ auditing firm, is reportedly bracing for a 6-month ban in China

The ban stems from PwC’s work with Evergrande, the bankrupt real estate developer whose default helped trigger China’s real estate crisis.

Fortune

Paris Olympics boosts eurozone economic growth; UK business activity accelerates –as it happened

Olympic Games has delivered France’s best month of growth since March 2023, while UK economy is also strengthening in August

The Guardian - UK

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Shanghai Composite Index Rose 0.09% on Wednesday

Shenzhen Component Index closed down 0.17%

Caixin Global

Shanghai Composite Index Rose 2.06% on Wednesday

Shenzhen Component Index closed up 3.37%

Caixin Global

Shanghai Composite Index Fell 0.43% on Tuesday

Shenzhen Component Index closed down 0.54%

Caixin Global

Creditors of Two Evergrande EV Units Start Bankruptcy Process

The application is the latest blow to the automaker, which has struggled to consistently produce vehicles as its property-developer parent collapsed

Caixin Global

Chinese Property Giant Evergrande Fined $576 Mn For 'Fraud'

Evergrande was once China's biggest real estate firm, a powerhouse in a sector that helped propel the country's rapid economic growth during recent decades.

International Business Times

A Chinese conglomerate loses control of its elite European soccer team, as Beijing fails to dominate the world's favorite sport

Oaktree took over Italian soccer club Inter Milan last week after owner Suning failed to pay back a $429 million loan.

Fortune

China to cut mortgage rates as part of plan to prop up property market

Local authorities will be allowed to turn unsold homes from developers into affordable housing

The Guardian - UK

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Caixin Global

Shanghai Composite Index Fell 0.72% on Monday

Shenzhen Component Index closed down 1.57%

Top News

Evergrande's Liquidators Withdraw Chapter 15 Applications In US

Evergrande and subsidiaries withdraw Chapter 15 applications in the US amidst mounting debt challenges, raising concerns about global market impact.

Top News

China Investigates Pwc In Evergrande Fraud Case

China investigates PwC's role in Evergrande fraud case, raising concerns over financial stability and global market impact.

Top News

Asian Equities Experience Mixed Performance Amid Central Bank Decisions

Asian equities market experienced mixed movements influenced by central bank decisions, company earnings, and geopolitical developments.

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The Guardian - UK

Evergrande: Chinese firm and founder fined over $78bn fraud claims

Property developer fined $580m and its chairman, Hui Ka Yan, fined $6.5m for allegedly falsifying its revenues

Top News

China Regulator Bans Evergrande Chairman From Securities Market For Life

China's regulatory authority bans Evergrande chairman for life from securities market due to financial troubles, impacting real estate sector and global ma...

Top News

China's Property Sector Meltdown Continues, IMF Forecasts Slower Growth

Despite measures to boost the property sector in China, markets plunged as the IMF predicts further economic slowdown in the coming years.

International Business Times

China Economic Slowdown To Persist Through 2028: IMF

China's economic slowdown is likely to persist in the coming years as the Asian giant struggles with sagging productivity and a rapidly aging population, the International Monetary Fund (IMF) said Friday.

Top News

China Introduces Property Support Measures Amid Evergrande Worries

Discover China's new property support measures aimed at addressing concerns over Evergrande's impact on the real estate market. Stay informed with our info...

International Business Times

Asian Markets Swing As Traders Eye Fed, Jobs And Earnings

Asian equities struggled again Wednesday after a mixed performance on Wall Street, with traders keenly awaiting what the Federal Reserve has to say after its much-anticipated policy meeting later in the day.

WEKU

Here's what to know about the collapse of China's Evergrande property developer

In 2018, Evergrande was listed as the world's most valuable real estate company. But on Monday, a Hong Kong court ordered it to be liquidated.

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