Troubled Chinese property giant Evergrande unveiled on Wednesday a long-awaited restructuring proposal for its massive debts, as it fights off a winding-up court petition brought by creditors in Hong Kong.. The next hearing in the Hong Kong winding-up case is scheduled for July 31, with Evergrande telling the court on Monday that it foresees October 1 as the last date by which its restructuring plan would take effect.
TikTok CEO Shou Zi Chew will staunchly deny allegations by US lawmakers Thursday that the hugely popular video-sharing app had ever, or ever would, share data with the Chinese government.. "TikTok has never shared, or received a request to share, US user data with the Chinese government.
UK lawmakers endorsed Wednesday a crucial part of Prime Minister Rishi Sunak's post-Brexit deal with the EU to overhaul Northern Irish trade rules, despite a rebellion by ex-leader Boris Johnson and other Conservative eurosceptics.. However, in a rebuke to Sunak that could have implications for his political authority, 22 Tory MPs -- including former prime ministers Boris Johnson and Liz Truss -- opposed the brake, while another 48 declined to vote.
Ukraine's reconstruction and recovery needs have grown to $411 billion, just over a year since Russia's invasion, the World Bank said Wednesday.. Ukraine's reconstruction will "take several years," said the World Bank's vice president for Europe and Central Asia, Anna Bjerde.
Kenya's President William Ruto on Wednesday vowed to rein in "impunity" and sought to reassure investors in the wake of violent opposition protests against his government.. "Through the rule of law, the government will take robust measures to honour and respect the rights of all and demonstrate that no one is above the law by decisively combating impunity, lawlessness and disorder," Ruto said.
The EU's executive arm proposed new rules on Wednesday that would force manufacturers to allow customers to have broken products repaired, in a bid to cut the number thrown out.. The 10-year rule will apply to products that are subject to the EU's "repairability requirements", with the bloc promising to add phones and tablets to that category soon.
The European Union's executive arm waded into the forest of dubious green labels, fairy tale carbon footprints and false eco-friendly advertising on Wednesday, proposing ways to clean up the "greenwashing" of consumer products.. The proposed directive, which will be submitted to the European Parliament and EU member states, will seek to rationalise green labelling and impose "dissuasive" punishments on dishonest advertisers.
Chinese gaming giant Tencent's profits fell steeply last year, according to an earnings report released Wednesday, as the country's tech sector weathers a government crackdown and a shaky economy.. Annual net profit in 2022 fell 16 percent year-on-year for the group, which owns the popular Chinese messaging app WeChat.
US banks will be paying especially close attention to the Federal Reserve's interest-rate decision on Wednesday after two weeks of market turmoil over the collapse of three regional lenders.. The Fed will also update its GDP growth and interest-rate projections on Wednesday.
British inflation unexpectedly accelerated in February, data showed Wednesday, deepening a cost-of-living crisis and pressuring the Bank of England to hike interest rates despite global markets turmoil.. "But the Bank of England may well want to see hard evidence of that before it stops raising interest rates."
