CNOOC, China's leading offshore oil and gas producer, plans to sell shares for a Shanghai listing next month. Read more.
Tags : evergrande
U.S. electric carmaker Tesla sold 70,847 China-made vehicles in December, the highest monthly rate since it began production in Shanghai in 2019, data from the China Passenger Car Association (CPCA) showed Tuesday. Read more.
The boss of a US company has come under fire after he sacked around 900 of his staff over a single Zoom call. "If you are on this call, you are part of the unfortunate group that is being fired," Vishal Garg, chief executive of mortgage company Better.com, said in the call, which was later uploaded to social media. Read more.
Debt-ridden property developer China Evergrande is set to raise about $273 million from the sale of its remaining stake in film production and streaming company HengTen Networks. This is according to a statement released before the stock market opened on Thursday. Evergrande, the largest issuer of U.S. dollar debt among Chinese property developers, was on the verge of officially defaulting this year. The company has made eleventh-hour payments and resumed building apartments owed to buyers. But that's only a fraction of what the company owes. Read more.