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Rodeo Drive’s storefront windows display the world’s most expensive labels: Gucci handbags, Prada slingback pumps, Chanel perfumes.
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Rodeo Drive’s storefront windows display the world’s most expensive labels: Gucci handbags, Prada slingback pumps, Chanel perfumes.
Californians looking to buy a house face some of the country’s most expensive real estate prices and wildfires that threaten scores of housing tracts. Now there’s another obstacle: finding an insurer willing to cover their dream home.
The Real Estate Board of Greater Vancouver says May home sales rose 15.7 per cent from a year earlier.
The spring surge in Toronto house prices accelerated again in May, providing another sign of persistent inflation in parts of the Canadian economy before a central bank rate decision next week.
It’s being sold along with an acre of vines by a member of the prominent Sebastiani winemaking family.
Dec 5, 2021
Bloomberg News
,(Bloomberg) --
Chinese developer Sunshine 100 China Holdings Ltd. defaulted on $179 million of debt and interest payments due Sunday as the pain of higher borrowing costs hits indebted companies across the sector.
Sunshine 100 said in a filing that it won’t be able to repay the $170 million of principal and more than $8.9 million of interest on its 10.5% senior notes due 2021. Sunshine 100 said in August that it wasn’t able to repay the principal, premium and accrued interest of its 2021 bonds. The company’s default will also trigger provisions under some other debt instruments.
“Owing to liquidity issues arising from the adverse impact of a number of factors including the macroeconomic environment and the real estate industry, the company is not able to repay the principal amount of the notes and the accrued but unpaid interest,” Sunshine 100 said in a filing.
Clock Is Ticking on China Evergrande’s Debt Crisis: QuickTake
The default highlights the ongoing stress for developers amid ongoing fears that the giant China Evergrande Group could default on its liabilities. Rising Chinese junk dollar bond yields has made it difficult for distressed developers to refinance their maturing debt. That helped contribute to a wave of defaults in October.
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