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Pressure mounts on Country Garden despite temporary reprieve
Pressure mounts on Country Garden despite temporary reprieve
by  AFP

Country Garden creditors have approved postponing the repayment of a key loan, narrowly avoiding a potential default, Bloomberg reported Saturday. But bondholders voted to postpone that deadline to 2026 to allow the group to recover financially, according to Bloomberg.

China's Country Garden wins vote on debt to avoid default: Bloomberg
China's Country Garden wins vote on debt to avoid default: Bloomberg
by  AFP

Chinese developer Country Garden has won approval from creditors to extend a deadline for a key bond repayment, narrowly avoiding a potential default, Bloomberg reported Saturday. But late Friday, bondholders agreed to postpone Saturday's repayment deadline until 2026, Bloomberg reported.

Canada wildfires inflict brutal toll on tourism, other areas of economy
Canada wildfires inflict brutal toll on tourism, other areas of economy
by  AFP

Joanna Schlosser found refuge from advancing wildfires at a winery where she works, but is now dealing with a tourism downturn and other wide-ranging fallout on the business -- and Canada's economy. "We're now facing a pretty devastating season in terms of winery traffic and sales," said Schlosser.

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