Bloomberg Almost a year after China’s property-market debt squeeze sparked the first in a wave of defaults by developers, the industry is fighting for survival. Home sales continue to plunge and elevated borrowing costs mean offshore refinancing is off the table for many developers. Global agencies are pulling their ratings on property bonds, while a string of auditor resignations ...

  Bloomberg China’s provincial governments are bracing for a tough year, predicting income growth from taxes will slow and land sale revenue will fall, putting them under severe fiscal pressure as they try to spend more to support a faltering economy. Some local authorities are predicting their general revenue this year will be significantly weaker than an expected national economic ...

Bloomberg The Kremlin said there are “no concrete plans” for a summit between US President Joe Biden and Russian President Vladimir Putin, throwing into question the fate of a French proposal that seemed to offer fresh hope for averting an alleged Russian plan to attack Ukraine. US officials said the meeting, proposed by French President Emmanuel Macron, would occur only ...