After Evergrande’s warning, financial institutions and developers all over the globe were on high alert last night.
China’s property magnate is believed to be in danger of collapsing with Asian and Western banks preparing for the biggest default since 2008, when Lehman Brothers collapsed.
Paragon Banking, London’s listed bank has made a record-breaking annual profit due to strong demand from professional landlords who are looking for properties to rent out. This drove an almost 30% jump in mortgage lending.
The lender’s statutory pre-tax profits for the 12 months to 30 September rose 80.5 per cent to £213.7million from £118.4million a year ago.
A British biotech star headed by a former adviser to David Cameron is planning to go public on the Dutch stock market in one of Europe’s biggest ever healthcare mergers.
Benevolent AI will become part of the Euronext Amsterdam stock Exchange through an reverse takeover. Odyssey is the special purpose acquisition company that acquires Benevolent AI.
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With debts of more than £300billion, Evergrande has been struggling to meet repayments since September. A large amount of this money is owed companies from outside China