Order to liquidate property giant China Evergrande is just one step in fixing China’s debt crisis
BANGKOK (AP) — A Hong Kong court’s order to liquidate , the world’s most , is only a tentative step toward resolving a debt crisis that is haunting financial markets and dragging on the Chinese economy.
Evergrande owes $340 billion to its creditors. Experts say it’s unclear if Monday’s order will be enforced in mainland China, where the company and 90% of its assets are based. Lenders inside of China already have claims on most of those “onshore” assets
UK fines HSBC bank for not going far enough to protect deposits in case it collapsed
LONDON (AP) — HSBC, Europe’s biggest bank, has been fined 57.4 million pounds ($72.8 million) for failing to adequately protect customer deposits in the event that the bank collapsed, U.K. regulators said Tuesday.
Two units of London-based HSBC Holdings Plc violated rules designed to ensure regulators have the information they need to protect depositors when banks fail, said Britain’s Prudential Regulation Authority, which is part of the Bank of England.
The penalty is
Millions urgently need food in Ethiopia’s Tigray region despite the resumption of aid deliveries
KAMPALA, Uganda (AP) — Nearly 400 people have died of starvation in Ethiopia’s Tigray and Amhara regions in recent months, the national ombudsman said Tuesday, a rare admission of hunger-related deaths by a federal body.
Local officials have in their districts, but Ethiopia’s federal government has insisted these reports are “completely wrong”.
Ethiopia’s ombudsman office sent experts to the regions, which are gripped by drought and still reeling from a that officially ended 14 months ago. They
Police seize weapons, explosives from a home in northern Greece
THESSALONIKI, Greece (AP) — Authorities have arrested two people after finding a large weapons cache in their home in northern Greece, police said Tuesday.
The two – a 54-year-old man and a 57-year-old woman – face felony counts of weapons and explosives possession. Police searching their home in the city of Florina on Monday seized 39 weapons, 95 ammunition magazines, 11 hand grenades, five mortar rounds, over 72 kilograms (158 pounds) of
UN envoy says her experience in Colombia deal may help her efforts in restarting Cyprus talks
NICOSIA, Cyprus (AP) — A United Nations official said on Tuesday that her experience in negotiating an end to decades of may help her as she seeks to rekindle talks over Cyprus’ ethnic division.
María Ángela Holguín Cuellar, the U.N. chief’s new personal envoy for Cyprus, said she believes she can work with both Greek Cypriots in the island’s and Turkish Cypriots in the breakaway north to get them back to the negotiating table after years of complete stalemate.
“
Departing US road safety chief says agency has the people and knowhow to regulate high-tech vehicles
DETROIT (AP) — In the past 15 months, no one has been more responsible for safety on the nation’s roads than Ann Carlson. For much of that time she has served as acting administrator of the National Highway Traffic Safety Administration, where she started as chief counsel in 2021.
But on Wednesday, Carlson’s time running the agency and as its chief lawyer will come to an end. She’s returning to Los Angeles to resume teaching at the UCLA School of Law.
Bumper profits for Norway’s giant wealth fund led by a strong performance by tech companies
STAVANGER, Norway (AP) — The manager of the world’s largest sovereign wealth fund pledged Tuesday to push major oil and gas companies to speed up preparations for the “inescapable” transition away from planet-warming while also twisting arms in U.S. boardrooms to take control of executive pay.
Hours earlier, Norway’s Government Pension Fund Global reported the largest annual return in its history, a performance led by U.S. technology companies and Danish pharmaceutical company Novo Nordisk, which makes the diabetes-
Paramedics injured after minivan crashes into ambulance in west end hit-and-run: police
Police are searching for a group of people who ran away on foot after a minivan crashed into an ambulance in Toronto’s west end early Tuesday morning.
Emergency crews were called to Dovercourt Road and Hallam Street, north of Bloor Street West, around 3:50 a.m. for reports of a collision.
Police say a minivan struck and ambulance and a pole before three occupants from the minivan got out and ran away on foot. The minivan sustained major damage in the crash.
Images from the scene show
Russian opposition figure Kara-Murza moved to another prison, placed in solitary confinement again
TALLINN, Estonia (AP) — Lawyers for Russian opposition figure , who is serving a 25-year sentence for treason, revealed Tuesday he has been transferred to another prison in Siberia and placed in solitary confinement again over an alleged minor infraction.
The unrelenting pressure on Russian dissidents at home and abroad has intensified significantly since President Vladimir Putin sent troops into Ukraine almost two years ago.
Kara-Murza, 42, had been held in , but his supporters said on Monday he apparently was no longer there.
One
French police asked for extra pay during Paris Olympics. They will get bonuses of up to $2,000
Police officers deployed during the will receive bonuses of up to 1,900 euros ($2,050), French Interior Minister Gerald Darmanin said on Tuesday in reaction to protests.
Police unions worried about working conditions during the Olympic Games from July 26-Aug. 11 and the Paralympics that follow organized protests and work stoppages this month for better pay and guarantees of holiday leave and childcare this summer.
Darmanin wrote to police staff that employees from the Interior Ministry will receive an exceptional bonus for