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Evergrande shares fall nearly 90% as creditor talks postponedChinese property developer reveals first-half losses of $4.5bn and liabilities of $328bnEvergrande shares fell as much as 87 per cent on Monday after trading in the Chinese property developer’s stock resumed for the first time in almost a year and a half and the company delayed crucial restructuring meetings with creditors.The world’s most indebted developer over the weekend disclosed first-half losses of Rmb33bn ($4.5bn) in order to partially fulfil Hong Kong stock exchange requirements to lift a 17-month trading suspension. According to exchange rules, a company whose shares have been suspended for 18 months faces possible delisting.Evergrande, which is entangled in more than 2,000 lawsuits involving about Rmb535bn, delayed for another month meetings with international creditors in Hong Kong, which were expected to lead to a vote on a restructuring plan this week.Proposals outlined earlier this year aimed to compensate international investors with notes linked to the company’s listed Hong Kong subsidiaries, including its electric vehicle company and a property management business. Those stocks had also recently resumed trading in Hong Kong after long suspensions.The fate of the meetings was being closely watched for signs of progress across the Chinese property sector, which has been paralysed by inactivity and a lack of funding, as well as for any precedents for future or parallel restructurings.With total liabilities of more than $300bn, Evergrande has come to embody the sector’s liquidity crisis following the company’s default in 2021. A wider property slowdown has weighed on China’s economic growth for almost two years as dozens of its peers have also defaulted.Beijing has stopped short of providing direct bailouts or major stimulus, despite renewed fears of spillovers from property into the wider financial system.Country Garden, once China’s largest private developer by sales, this month missed payments on its international bonds, triggering a 30-day grace period, while Zhongrong, an investment company, missed payments on savings products.Evergrande, which did not disclose its financial position for 2022 and much of this year, last month said it lost $81bn over 2021 and 2022. Its liabilities now stand at Rmb2.39tn.As well as revealing financial results, the requirements for its trading resumption include addressing issues raised by its former auditor PwC, which resigned in January. These issues include estimates of off-balance sheet liabilities.Prism Hong Kong and Shanghai, which replaced PwC as auditor, did not issue a conclusion on the first-half results, citing “multiple uncertainties relating to going concern”.Evergrande this month filed for Chapter 15 bankruptcy protection in the US.Regarding its legal cases, Evergrande said on Sunday that “various parties have filed litigation against the Group” over issues including unpaid borrowings, outstanding construction and delayed delivery of several projects.The company added it was “actively communicating with relevant creditors and seeking various ways to resolve these litigations”.
— El presidente de los futbolistas españoles cesa por machista no por zafio; ser zafio funciona; la educación no sirve para nada.
Help to buy homes from 'Bank of Family' risesA record number of people are getting help from family members to enable them to buy a property, a study suggests.Financial support from the "Bank of Family" is expected to help with 318,400 house purchases this year, according to Legal & General.Almost half of all homes bought by those under the age of 55 will have been done so with the help of parents, grandparents or other relations.But L&G said those without such support risk being "locked out" of the market.The financial services group has been tracking financial support from families for homebuying for the past seven years, and it says that in 2023 more buyers than ever are relying on relatives' help for a deposit.L&G used to refer to the support as the "Bank of Mum and Dad", but has changed this to the "Bank of Family" as it said the term more accurately reflects the contributions from other relatives, such as grandparents, and the diversity of modern families.Its research found that the average amount given by families is expected to hit £25,600 this year, with total lending set to reach £8.1bn. In 2016, when it first carried out the research, total lending was £5.3bn.L&G said that house prices have been growing at a much faster pace than wages, and with the cost of living crisis and rising interest rates, it is becoming increasingly hard to get on the property ladder without family support."Whilst the majority are mums and dads helping out, also grandparents, aunts and uncles and even friends of the family are helping out as well... in ever increasing amounts of generosity," Bernie Hickman, chief executive of Legal & General Retail told the BBC's Today programme.He added that families are also giving much more non-financial support."It's much more common now for adult children to be living at home rent-free while they're saving for a deposit, or parents and grandparents providing free childcare so that younger family members can actually save up for that deposit."One-in-five of those surveyed by L&G said that without family support, they would have to delay their home purchase by more than five years, while one-in-10 said they would not be able to buy a home at all."Family wealth is increasingly becoming a prerequisite for homeownership, effectively locking some groups out of the housing market for years while they save for deposits, or even altogether," said Mr Hickman.
Cita de: asustadísimos en Agosto 28, 2023, 10:22:42 am— El presidente de los futbolistas españoles cesa por machista no por zafio; ser zafio funciona; la educación no sirve para nada.Esta mentira no está tan clara: por zafio, por machista repugnante... y por idiota. (Sobre todo por idiota. No se puede pasar por encima de las "chicas" justo cuando está mirando medio planeta.)
Cita de: sudden and sharp en Agosto 28, 2023, 10:30:49 amCita de: asustadísimos en Agosto 28, 2023, 10:22:42 am— El presidente de los futbolistas españoles cesa por machista no por zafio; ser zafio funciona; la educación no sirve para nada.Esta mentira no está tan clara: por zafio, por machista repugnante... y por idiota. (Sobre todo por idiota. No se puede pasar por encima de las "chicas" justo cuando está mirando medio planeta.)Yo coincido con Asustadísimos, es por zafio y no por machista. Mi madre lo definiría como rústico (ella es el ser más elegante que he conocido), recién salido de las cavernas. Sin la más mínima educación de base. Está bien que eliminen a este tipo de personajes que tanto dolor han causado, hay que evolucionar y rápidito.
Cita de: Derby en Agosto 28, 2023, 10:41:45 amCita de: sudden and sharp en Agosto 28, 2023, 10:30:49 amCita de: asustadísimos en Agosto 28, 2023, 10:22:42 am— El presidente de los futbolistas españoles cesa por machista no por zafio; ser zafio funciona; la educación no sirve para nada.Esta mentira no está tan clara: por zafio, por machista repugnante... y por idiota. (Sobre todo por idiota. No se puede pasar por encima de las "chicas" justo cuando está mirando medio planeta.)Yo coincido con Asustadísimos, es por zafio y no por machista. Mi madre lo definiría como rústico (ella es el ser más elegante que he conocido), recién salido de las cavernas. Sin la más mínima educación de base. Está bien que eliminen a este tipo de personajes que tanto dolor han causado, hay que evolucionar y rápidito.Totalmente de acuerdo con la definición de tu madre y que vale para describir a este señor. Sus comportamientos machistas derivan de su falta de modales y no son originarios. Es decir hace lo del pico, al igual que lo de tocarse los X por rústico (bruto).
Cita de: Vipamo en Agosto 28, 2023, 11:01:38 amCita de: Derby en Agosto 28, 2023, 10:41:45 amCita de: sudden and sharp en Agosto 28, 2023, 10:30:49 amCita de: asustadísimos en Agosto 28, 2023, 10:22:42 am— El presidente de los futbolistas españoles cesa por machista no por zafio; ser zafio funciona; la educación no sirve para nada.Esta mentira no está tan clara: por zafio, por machista repugnante... y por idiota. (Sobre todo por idiota. No se puede pasar por encima de las "chicas" justo cuando está mirando medio planeta.)Yo coincido con Asustadísimos, es por zafio y no por machista. Mi madre lo definiría como rústico (ella es el ser más elegante que he conocido), recién salido de las cavernas. Sin la más mínima educación de base. Está bien que eliminen a este tipo de personajes que tanto dolor han causado, hay que evolucionar y rápidito.Totalmente de acuerdo con la definición de tu madre y que vale para describir a este señor. Sus comportamientos machistas derivan de su falta de modales y no son originarios. Es decir hace lo del pico, al igual que lo de tocarse los X por rústico (bruto).Pues yo no coincido. Lo de zafio es lo de menos, en mi opinión. Yo estoy más en esta línea:El trofeo de Rubialeshttps://elpais.com/opinion/2023-08-28/el-trofeo-de-rubiales.htmlEl gesto del presidente de la federación, lejos de ser incontrolado, fue impositivo y degradante, como lo son todos los gestos que invaden la intimidad del otro, propios de quien solo quiere pillar cacho. Pero no de la boca, sino de la gloria.
[...]Que un personaje tan zafio haya llegado a donde ha llegado (éste no debería haber pasado de lateral chungo de equipos chungos) dice mucho de la deriva moral en la que estamos. Y para colmo que le esté sirviendo a la farándula femiloca para envenenar aún más las relaciones entre hombres y mujeres ya ni te cuento lo "chungo" que es. (y he de decir que dijo 3 ó 4 verdades en su discurso, pero sospecho que servirá para desacreditar algo totalmente razonable que no es otra cosa que precisamente eso, la necesidad de borrar del mapa una de las ideítas, el feminismo como herramienta ideológica para generar conflictos y olvidar la contradicción fundamental.