China banks step up sales of bad loans as consumer defaults rise
SHANGHAI/SINGAPORE (Reuters) – Chinese banks are putting bad loans up for sale at a record pace, as regulators push for faster disposal of sour debts amid rising consumer defaults during an ailing…
Corporate defaults jump, highest August monthly tally since 2009 – S&P
LONDON (Reuters) – The number of new corporate defaults globally reached 16 in August, the highest August monthly number since 2009, S&P said in a report released on Wednesday, the latest sign…
Analysis-Banks step up U.S property loan tweaks to limit defaults
By Shankar Ramakrishnan and Matt Tracy (Reuters) – Banks are showing a growing willingness to rework the terms of U.S. commercial real estate loans to prevent defaults, mitigating near-term losses but also…
JPMorgan sees rise in corporate defaults in Latin America
(Reuters) – JPMorgan increased its corporate default rate forecast for all emerging markets to 6% from 5.5% on Monday, citing in particular growing risk among Latin American companies as access to credit…
BOJ’s Ueda warns of market turmoil if US defaults on its debt
TOKYO (Reuters) – Bank of Japan Governor Kazuo Ueda said on Friday a U.S. debt default could trigger market turmoil, and will likely have a huge impact on the global economy. “There’s…
More small emerging market defaults ‘probable’ in 2023 – Fitch
JOHANNESBURG (Reuters) -More sovereign defaults are “probable” next year among small emerging market countries, ratings agency Fitch said in its 2023 outlook on Monday, citing a likelihood of sudden jumps in borrowing…
Biden administration warns of large increase in student loan defaults without debt forgiveness – CNBC
(Reuters) – Biden administration has warned of a ‘historically large increase’ in student loan defaults without debt forgiveness, CNBC reported on Wednesday. (Reporting by Maria Ponnezhath in Bengaluru)…
Exclusive-Brazil coffee defaults spike for second year in a row
By Maytaal Angel and Marcelo Teixeira LONDON/NEW YORK (Reuters) – Brazilian coffee farmers are defaulting on contracts for a second straight year, according to traders and lawyers representing the industry, failing to…
China property, Russia drive emerging market Q3 corporate defaults – JPMorgan
LONDON (Reuters) – Defaults among emerging market companies continued to pile up in the third quarter due to troubles in Russia as well as China’s property sector, with the volume of bonds…
Germany’s municipal utilities expect up to 15% client defaults -Funke
BERLIN (Reuters) – Germany’s municipal utilities expect up to 15% of their clients to default on payments because of high gas prices, the head of local utilities organisation VKU told Funke Media…
Timeline – The Bolsheviks to Putin: a history of Russian defaults
By Jorgelina do Rosario LONDON – In 1918, Soviet revolutionary Leon Trotsky told Western creditors aghast at the Bolsheviks’ repudiation of Russia’s external debt: “Gentlemen, you were warned.” He reminded them that…
Timeline: The Bolsheviks to Putin: a history of Russian defaults
By Jorgelina do Rosario LONDON – In 1918, Soviet revolutionary Leon Trotsky told Western creditors aghast at the Bolsheviks’ repudiation of Russia’s external debt: “Gentlemen, you were warned.” He reminded them that…
Exclusive-Washington man arrested for impersonating agent left trail of defaults and debt
By Sarah N. Lynch WASHINGTON – Before Arian Taherzadeh was arrested for impersonating a U.S. law enforcement agent, he portrayed himself as a wealthy playboy who wore flashy watches, drove luxury cars…
China developer Zhenro defaults on interest payments for two offshore bonds
HONG KONG – China’s Zhenro Properties said it has missed interest payments on two offshore bonds and expects four more defaults in the coming months due to the lockdown in Shanghai, but…
Largest Chinese Residential Developer Defaults On Massive Debt
A major credit ratings firm declared that real estate giant China Evergrande was in default on Thursday, creating the potential for the communist country’s financial system to take a significant hit, The…
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