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...The Biden administration introduced sweeping export controls in 2022 that included a ban on “US persons” — American nationals and companies — from providing direct or indirect support to certain advanced...
...The UK used national security powers to intervene in eight deals involving Chinese-linked investment in British companies in the 12 months to March 2023....
...The water monopoly has come under increasing financial strain as higher interest rates have increased the costs of servicing its £18.3bn debt....
...However, the change will mean staff in Hong Kong no longer have default access even to non-private files from outside China....
...As defaults climb, legal experts have proposed the introduction of personal bankruptcy laws with debt relief for individual insolvencies....
...($191.5mn) to take control of Danone’s Russia business — Rbs7.7bn of which will go towards servicing debt in the Russia operation with the rest paying for Danone’s equity in the company....
...at Companies House, the UK’s corporate registry, disclose....
...Construction, real estate and financial services companies were particularly at risk of default....
...It’s not just the default risk, but where the corporate structure the terms of default will apply....
...This is roughly comparable to average default rates observed in companies that receive a B credit rating from S&P (3.4 per cent) and a B3 from Moody’s (4 per cent)....
...High interest rates are putting pressure on British companies, raising the risk of corporate defaults and threatening investment and employment, the Bank of England warned on Tuesday....
...Rivals Asda and Morrisons have lost momentum under private equity ownership, weighed down by the increasing cost of servicing debt....
...The share of non-financial UK companies experiencing debt-servicing stress — those with a low ratio of earnings to interest expenses — will rise to 50 per cent by the end of the year, from 45 per cent in...
...last year to avoid a government default....
...The company has said it plans to keep servicing this debt despite the sovereign restructuring....
...Moody’s cited the recent default of Rite Aid, which operated more than 2,300 pharmacies across 17 US states, and the distressed debt exchanges of Belgian consumer goods company Ideal Standard International...
...When is a default a default?...
...Such controls are a national competence but Brussels in January put forward proposals to play a bigger role....
...Their resistance to rescuing the company by refusing to invest a further £3bn into the business — including £500mn due at the end of April — precipitated Kemble’s default earlier this month....
...Thames Water has been mired in a protracted stand-off with industry regulator Ofwat, and investor resistance to the watchdog’s demands precipitated a default by the group’s parent company this month....
...Such an increase would push a developing country immediately into high risk of default, or straight into default itself. And that’s exactly what’s happening today in some countries....
...National Energy Action, the fuel poverty charity, warned that 6mn households would still be in “fuel poverty” from April — defined as spending 10 per cent or more of income on energy, down from about 6.5mn...
...The finer points of the credit default swaps market were somewhat lost on the social media audience....
...wave of corporate defaults....
...Multiple players — such as originator banks, servicing companies and rating agencies — are involved in the transactions, which have a highly complex pricing mechanism....
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