The spillover effect of Chinese real estate companies' debt default risks to the financial industry is generally controllable, state media said on Monday, as concerns continue to loom over China Evergrande Group.
The following are the top stories in the Financial Times. Headlines. - Sunak prioritises NHS, skills and levelling up in Budget windfall https://on.ft.com/30YNjPh. - UniCredit walks away from rescue of Monte dei Paschi https://on.ft.com/2ZsaFML. - Evergrande resumes work on projects in southern China https://on.ft.com/3nvlhCG.
China Evergrande Group (EGRNF) said on Sunday it had resumed work on more than 10 projects in six cities including Shenzhen - a statement that comes after it appeared to avert default with a last-minute bond coupon payment last week. Evergrande, deep in crisis with more than $300 billion in liabilities, has not disclosed how many of its 1,300 real estate projects across China it has had to halt work on.
China Evergrande Group (EGRNF) said on Sunday it had resumed work on more than 10 projects in Shenzhen, Dongguan and other cities and that all would be carried out according to plan. The world's most indebted property firm said in a post on its Wechat account that its effort to guarantee construction would shore up market confidence.
* S&P 500, Nasdaq end session lower. * Evergrande averts default with surprise interest payment. * U.S. 10-year yields lower. By Caroline Valetkevitch. The Dow Jones industrial average registered a record closing high on Friday and major equity indexes posted a third straight week of gains while the U.S. dollar slipped.
Kite Realty Group Trust (KRG): * Kite Realty Group Trust (KRG) - CO'S UNIT ENTERED INTO FIRST AMENDMENT TO CREDIT AGREEMENT. * Kite Realty Group Trust (KRG) - FIRST AMENDMENT AMENDS THAT CERTAIN SIXTH AMENDED AND RESTATED CREDIT AGREEMENT, DATED AS OF JULY 8, 2021.
U.S. liquefied natural gas company Venture Global LNG asked federal regulators on Friday for permission to start commissioning liquefaction systems at the company's Calcasieu Pass LNG export plant in Louisiana.
Federal Reserve Chair Jerome Powell on Friday said the U.S. central bank should start the process of reducing its support of the economy by cutting back on its asset purchases, but should not yet touch the interest rate dial.
* S&P 500 near flat in early New York trading. * Evergrande averts default with surprise interest payment. * U.S. 10-year yields lower. By Caroline Valetkevitch. Global stock indexes were mostly flat to higher on Friday, with financial shares providing some support to the S&P 500 index in early trading, while the U.S. dollar slipped against a basket of currencies.
-Real estate heir Robert Durst has been charged in New York state with murder in the 1982 disappearance of his wife, the New York Times reported on Friday, a week after he was sentenced in California to life in prison for murdering his best friend in 2000.
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