It’s crunch time for China’s heavily-indebted Evergrande Group. The sprawling Chinese real estate conglomerate faces a critical test on Thursday: can it meet its obligations to bondholders, or will it slip closer to default? Evergrande is due to pay $83.5 million worth of interest on a dollar-denominated bond on Thursday, according to data from Refinitiv.…… MORE
Boeing, the largest US exporter, announced plans Wednesday for its first foreign production plant to perform final assembly work. The plant, to be built in Toowoomba, Australia, will assemble military drones, not commercial jets, which is Boeing’s primary business. But it is an interesting step away from the United States for the company. Boeing’s defense,…… MORE
The housing market is beginning to look a little more normal. Home sales dropped in August, both from July and from a year ago, breaking two straight months of increases, according to the National Association of Realtors. Home purchases have been surging over the past year, which Lawrence Yun, chief economist for NAR, said has…… MORE
The Federal Reserve isn’t ready to take its foot off the stimulus gas pedal just yet, but that soon might change. If the economic recovery continues to progress as expected, the Fed “judges that a moderation in the pace of asset purchases may soon be warranted,” according to the bank’s policy update published Wednesday. The…… MORE
More than 50 airlines, oil companies and other companies, including Delta, BP and Boeing, pledged on Wednesday to replace 10% of global jet fuel supply with sustainable aviation fuel (SAF) by 2030. It is one of the boldest commitments yet to tackle the environmental impact of air travel and will require an exponential increase in…… MORE
Senator Elizabeth Warren and three other Democratic lawmakers have sent an open letter to the executives behind popular SPACs, raising concerns about the potential for insiders to exploit regulatory gaps at the expense of everyday investors. “We seek information about your use of SPACs in order to understand what sort of Congressional or regulatory action…… MORE
Boeing is being called out by Ryanair, one of its major customers, for not selling its jets more cheaply. So far Boeing is standing fast and refusing to meet Ryanair’s price demand, despite the hit its sales have taken the last two years. On Tuesday Ryanair CEO Michael O’Leary called Boeing’s stand on pricing “delusional”…… MORE
With just five days until United Airlines will start putting unvaccinated US employees on leave, the company says 97% of workers have complied with its mandate. “United will start the separation process as early as September 28,” confirmed spokesperson Leslie Scott, who noted that only a “small number” of workers have requested an exemption based…… MORE
A US default would be a “catastrophic blow” to America’s economic recovery from Covid-19, setting off a downturn that would rival the Great Recession, Moody’s Analytics warned in a new report. If the US defaults on its debt payments and the impasse drags on, the ensuing recession would wipe out nearly 6 million jobs and…… MORE
Let’s be honest, the advice to “invest in what you know” is hard to heed when you’re trying to build a diverse portfolio. So even if you’re someone who can’t define blockchain to save your life, you still may be wondering if you should have at least a little exposure to crypto in your portfolio.…… MORE
