Tags : evergrande

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International News and Market Update: US boss lays off 900

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.

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International News and Market Update: Evergrande shares slide after it

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.