News Snapshot:
A highly anticipated default by China Evergrande Group as soon as this week is unlikely to spark a broader malaise that threatens the overall stability of China’s financial system in the same way the collapse of investment bank Lehman Brothers did during the global financial crisis in 2008, according to research analysts. The world’s most indebted property developer is supposed to make a series of interest payments on its debt beginning on Thursday, but S&P Global Ratings and other credit rating agencies said a default is “likely”. The Shenzhen-based company had some US$300 billion in liabilities at the end of...
