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...The failure of Signa, a property empire built over the past two decades by its politically connected, billionaire founder Benko, has been the highest-profile casualty of the strains across Europe’s commercial...
...“We are not going to comment on this matter save as to say that the [secretary of state] has taken such action without as much as requesting a meeting with the companies,” the company said....
...The letter states that the company’s management was “not acting in the best interest of the creditors” and had taken a series of decisions that were creating “the imminent danger of causing significant harm...
...Several state banks last year unveiled new credit lines to companies including Country Garden as part of government support for the property market. But Country Garden’s sales kept falling....
...in the property empire before its collapse....
...Looking forward, we will pursue rate increases in 10 states to improve margins and in other states to keep pace with increases in loss costs. Used-car costs have, in contrast, declined....
...The collapse of the legacy car market after decades of growth poses an existential threat to scores of foreign and state-backed carmakers operating in China....
...The involvement of a prominent state-owned bank signals a new level of impatience among creditors as a cash crunch for property developers continues to worsen....
...In a statement, Silverstein confirmed that junior and senior mezzanine debt and mortgage loans were all in maturity default, and that property broker JLL was organising a sale....
...Shares in Chinese state-owned carmaker Changan Automobile climbed on Monday, after the company announced an investment into a spin-off of tech group Huawei’s smart car business....
...Vietnamese property tycoon Truong My Lan has been sentenced to death by a court in Ho Chi Minh City for embezzling more than $12bn in the country’s largest financial fraud, state media reported....
...It’s not dissimilar to finding a way to house state-of-the-art materials within the historic structure of Hunts Green Barn....
...The bank originated as the Nippon Credit Bank, which was among the highest-profile casualties of the protracted fallout from the collapse of Japan’s 1980s property bubble....
...KaDeWe, Germany’s most famous and exclusive department store, filed for administration on Monday, becoming the latest casualty of René Benko’s crumbling property empire....
...any formal investigation against Signa or persons at the company....
...The company’s net income fell 46 per cent to Rmb12.2bn ($1.69bn) last year, the state-linked company said in an exchange filing late on Thursday....
...But in New York, some of the best properties coming to market are now sitting for months....
...It is 28 per cent owned by the Shenzhen Metro, occupying a middle ground between a private and state-owned company....
...In 2022, Musk announced a 10 per cent reduction in salaried workers, citing overstaffing and a “super bad feeling” about the state of the economy....
...He said Lan’s corruption case had dented the confidence of some private businesses in Vietnam worried about the risks of operating in the country and the state companies they work with....
...European house prices fell for the first time in a decade last year, as strong growth in the property markets of some eastern and southern countries was masked by declines in many northern EU states....
...Munich’s state prosecutor is looking into allegations of money laundering at the Signa Group, René Benko’s collapsed luxury property empire....
...Until now, no matter how bad things got, Chinese property developers could count on state-owned lenders to have their backs....
...The British Property Federation said the change could hit investors wanting to buy badly needed rental homes....
...To really bring the issue home, the NY Federal Reserve put out a blog at the end of March on the implications for the United States of a hypothetical China property hard landing....
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