the attack blamed on iran militants. >> it is about evergrande, it is about china evergrande. liquidate. this company defaulted about two years ago. it has since struggled to restructure its debt now. we have the csi index in negative territory. the kospi up by more than 1%. we have crude oil trending higher. up as much as 1.5% on the back of that missile attack which we saw on the red sea. take a look at where we are in terms of the fx market. we had the aussie dollar up by .2%. it is pretty flat right now after that much anticipated move. they are standing pat and saying inflation will start is by the fourth quarter and continue to ease in 2020. >> just checking in following the threat to the upside. seeing a bit of respite at the moment. they are set for the worst january since 2020. there is a lot of pain on this currency. looking ahead to the open there in india. we have them out with the latest quarterly earnings as well. they will study in through rupees. they are looking more into this liquidation fear the hong kong court of china evergrande. what has happened thus far

evergrande a hong kong court has ordered china evergrande to liquidate after it was unable to reach a deal with creditor's. bloomberg's the red a chan joins us with -- bloomberg's loretta joins us with the details. >> this is a two-year long process for evergrande to come from defaulting on its u.s. dollar debt. the next thing is happening in hong kong court. the judge that decided on the liquidation case will give out her reasoning behind that. and further there will be a liquidator appointed to the case. they process will kickoff from there. and this morning we learned that the key creditor group behind this liquidation process will be the ad hoc group of evergrande. these are the creditor is holding a majority of evergrande's dollar debt. they will replace the original company that asked to drive the process going forward. tom: what are the ramifications for the broader property sector in china as a result of this? >> from evergrande, it is a clear sign that investors are not expecting much recovery from the failed restructuring plan. for the broader property sector, i think there

evergrande.o come up with an acceptable restructuring plan for its overseas creditors. meanwhile, trading in evergrande shares has been suspended on the hong kong stock exchange. although as you can see here it is not having too much of an impact so far. the hang seng is currently up far. the hang seng is currently up 0.8%. and that brings us to a close here on asia business report. we will have more on the fallout from evergrande's decision from hong kong in our later bulletin. bye for now. voiceover: bbc news - bringing you different stories from across the uk. reunited once again... speaks ukrainian ..theodore and his dad meeting in lviv. in the summer, theodore's school friends did a camping—out fundraiser to pay for his trips back to ukraine. actually, it means all the world to us. it's so amazing when children of that age are thinking of the future or thinking of what is happening in the world. what was the best bit about it? seeing a lot of my family. and i slept with my dad all the time.

coming up, we will have the debt laden property developer china evergrande renewing a risk in court. hearing kicking off in annabelle: you were watching "bloomberg daybreak: asia." taking you to live pictures in the court of hong kong where evergrande's fate is going to be decided just over an hour's time from now. it will be trying to fend of liquidation. we have seen a decision on liquidation deferred before, but the judge overseeing the case making it clear that the chances for reproof are over, and the decision is due. to focus on never's restructuring plan, the progress it is making with key creditors here. let's get more and bring in our reporter laura chen. so much anticipation around this. what are you expecting to hear later? >> today is the last chance for evergrande to avoid that liquidation. we are expecting evergrande's creditor to layout any sort of progress made in the last month. the last time they had the hearing with the december, and it was a surprise turn of events because one of the key creditors decided not to go ahead with winding up, but we are hearing with ot

evergrande.n acceptable restructuring plan for its overseas creditors. meanwhile, trading in evergrande shares has been suspended on the hong kong stock exchange. speaking of the hang seng, lepers might look at where the indexis lepers might look at where the index is right now. you can see is just up over index is right now. you can see isjust up over i%. index is right now. you can see is just up over i%. stocks rising in hong kong this morning after the latest attempt by beijing to stabilise the border in mainland china. chinese securities regulator announced it was restricting shortselling to create what it called a fairer market order. that is it for me for now 0neasia business report. goodbye for now. —— that is it for me for now on asia business report. this is sophia, and so is this, and this is her, too. all three sculptures are based on sophia, an 11—year—old slave girl baptized at lancaster priory in 1799. people come in and they do ask the question, you know, why? and the minute that

coming up,, desko lai property developer china evergrande is facing a new liquidation in hong kong.ve more on that and china are pretty you can make money the hard way as a bullfighter or a human cannonball... or save money the easy way, with xfinity mobile. existing customers can get a free line of our most popular unlimited plan for a year! not only will you save hundreds but you'll also be joining millions who have connected to america's most reliable 5g network. sure is a lot safer than becoming a stuntman for money. get a free line of unlimited intro for a year when you buy one unlimited line. plus, get the new samsung galaxy s24 on us. annabelle: we are watching "daybreak: australia." let's take a look at the bottom space. futures online, we are seeing them climbing across the board. it tells us perhaps there is a bit of a move into haven trades. also seeing oil prices rising after the u.s. said irani unbanked militants killed three servicemembers near the syrian border. we are perhaps recalculating those red sea risks and what it means for tensions in that part of the world.

that was china evergrande shares.e liquidation order in hong kong court that cemented the downfall of a company that exemplified the country's real estate boom and bust. it is not clear how the liquidation order could be implemented in mainland china. woodbrook economics as if it does go ahead, it is going to be an additional blow to the confidence of chinese investors and potential homebuyers. it could shatter any remitting hopes among creditors the government will bear out distressed the loafers -- will bail distressed developers. head of hong kong china property and research at ubs joining us in the studio. i know you cannot talk about evergrande specifically but i am interested in when you think in terms of the sentiment. is this something that is negative for the property sector or a positive because it draws a line under the messy saga? >> thank you for having me today. i think this is likely to accelerate the debt restructuring for the other private developers. so far, the other private developers are delaying

shares of china's evergrande briefly halted after plunging 20% in early trading. got the latest on that story coming out of china which is further weakening its real estate market. then impeaching alejandro mayorkas amidst an invasion at the southern border, there are two articles of impeachment as we learn nationwide encounters hit a new all time high in december, 371,000 for the month, 302,000 just at the southern border. the charges expected to be you approved tomorrow. will this impeachment die in the senate? we are on it this morning. joining the conversation all morning long, strategic wealth partners ceo, mark o tepper, columnist and fox news contributor, liz peek, and fox business' cheryl casone. "mornings with maria" is live right now. three u.s. station members stationed in jordan have been killed, 30 have been injured in an iranian backed drone strike, the first time americans have been killed in the region since the start of the israel, hamas war. the white house says we will carry on our commitment to fight terrorism and will hold those accountable in

we will talk about the downfall of china evergrande and what liquidation means for china's property sector. this is bloomberg. ♪ much? nahhhh... [inner monologue] another destination wedding?! we just got back from her sister's in napa. who gets married in napa? my daughter. who gets married someplace more expensive? my other daughter! cancun! jamaica! why can't they use my backyard?! with empower, we get all of our financial questions answered. so we don't have to worry. can we get out of here? i thought you'd never ask. join 18 million americans and take control of your financial future with the real-time dashboard and real-live conversations. empower what's next. annabelle: now that a hong kong court has ordered the liquidation of evergrande, the big question is whether that decision will be followed in china where the bulk of its assets are located. let's bring in our chief north asia correspondent, stephen engle. it gets interesting now. >> now, what happens? there a hong kong court order for the liquidation from yesterday. will that be followed in the mainland where there is a differ

fortunately not helping china evergrande, it may have reached the end then for the company.the other side though, interesting to note as well, some other news that has certainly come up, the biden administration is actually expected to award billions of dollars worth of subsidies to top chip makers as well as chip suppliers, and the likes of intel, taiwan semiconductor manufacturing company, or better known as tsmc, the largest chip manufacturer in the world of course, all of that is set to come out in the next few weeks out of the united states, and a lot more details for that will be quite significant to the growth of that sector within the united states. frances? >> okay, thank you for the breakdown. >>> still to come, a new box office champ tells mean girls you can't sit with us. >>> and grammy history from a legendary artist. new detas ilon a performance that's decades in the making. right after this. insu e. good thing the general gives you a break when you need it. yeah, with flexible payment options to keep you covered. so today is your lucky...day [crash] so today i

what does this mean for evergrande going forward? this is the big question, isn't it, steve? south china morning post, quoting the judge, saying that due to the obvious lack of the progress on the part of the company in putting forward a viable restructuring proposal this liquidation has been ordered. it basically means that its assets will be seized and sold off in order to repay some of its

you've got china evergrande, it has debts of around $300 billion.arden has debts of around $190 billion. and there's something like 26 million unsold homes. does this suggest that china can no longer rely on the property market for economic growth? if you look at the data, the pre—pandemic trend, pretty much 80% of the sectors have recovered almost back to pre trend levels, except the real estate, which is just the real estate, is really what's dragging china's growth down. you had this huge bubble. the government is not going back to that. the real estate because of the high housing prices, have made people not want to have children because they can't afford the living space. and that has caused a social concerns. and real estate developers have grown and really borrowed and bought soccer clubs and, you know, have behaved somewhat irresponsibly. and that's not going to return either. we have to still remember that there's still hundreds of millions of people that are going to move from rural to urban areas. but it's going to be a long, painful adju

maria: let's face it, china is facing is economic problems, china evergrande group to recover a fractionrdered the real estate company to liquidate yesterday most companies' assets in mainland china hard for nonchinese administrators to access them, dick bove warning they will take over the u.s. dollar i have a feeling china's route bigger than people talking about the economy slowing down bigger issue led by real estate market, the journal rights china's stock market rout has become a political problem the cabinet urging action states firms started buying what is happening inside china with regard to its economy stock market if impact? >> well, i don't want to bead up on goldman sachs, david sullivan too much but they just purchased chinese stock in, the largeest amount ever in 20 or 30 years goldman sachs announced that themselves, just yesterday. so they are -- they know about evergrande community property economy slowing from 10% average growth to -- 5% they see that as opportunities for wall street to get in deeper with china increase number of ipos not decouple but opposite might c

evergrande situation is a little bit different because actually, china, mainland china government iscused on evergrande and didn't say it has an opinion in ever grand and is watching it more closely than the other developers. chinese operators most of the top management of evergrande group, so we are such a terrible management of evergrande group, so we are worried. such a terrible relationsh between the company and government. focusing next on how growing geopolitical tensions are driving up arms sales. us weapons exports $81 billion last year. that's a 56% increase from 2022, according to the us state department. with more, here the bbc�*s north america business correspondent michelle fleury. for american defence companies 2023 was a record year for sales with exports are more than 50%. one tree of deals was worth about $30 billion for attack and transport helicopters and rocket systems to poland and germany, according to state department figures. it comes as the war in ukraine rages on with fears about moscow's potential to target other countries lifting sales. the biden administr

shares of china's evergrande ev unit plunging overnight after the company revealed executive directordetained by chinese authorities he is reportedly detained with suspicion of illegal crimes but no other details have been given. tennis star rafael no dial being pulled out of the australian open suffering a muscle injury to his hip which he already had surgery on, 22 time grand slam winner had just played for the first time in a year he last played austria in 2023 and he lt in the second round. , now to the golden globes, taylor swift did not appear amused by host joe quoit, watch this. >> welcome back, as you know we came on after a football doubleheader, the big difference between the golden globes in the nfl, on the golden globes we have fewer shots of taylor swift i swear, were to go to hear. sorry about that. >> she's drinking, anyway as for the awards oppenheimer was the big winner of the night taking on the award for the best drama, barbie had an underwhelming night only picking up two awards while being nominated in seven categories. those attending getting a sweet deal, the g

one of china's largest real estate developers is being forced to big date while giant evergrande could mean the economy. the kansas city chiefs and 49ers head to las vegas with everything on the line. >> good to have you with us. u.s. president joe biden is vowing to respond after three american soldiers were killed and more than 30 injured in a drone attack in jordan. the attack on the outpost known as tower 22 marked the first time u.s. troops have been killed by enemy fire in the middle east since the start of the war between israel and hamas. that small military base seen in this satellite image is located near the border with syria. mr. biden is blalaming iran bacd militant groups for the attack, while in iran, state media report iran's permanent mission to the u.n. denies the country had any involvement. the u.s. president is vowing to hold those responsible to account. >> we had a tough day last night in the middle east. we lost three brave soldiers in an attack on one of our bases. [indistinct] >> we shall respond. >> cnn's paula hancock joins us from abu dhabi with more. what

for years this company, evergrande, has been the poster child of the symbol of china's property debt crisis. a few years ago in 2021 it triggered a market panic when it defaulted on its offshore debt and evergrande has the distinction of being the world's most indebted property developer with more than $328 billion worth of liabilities and $240 billion of assets. last year in september its founder and chairman was suspected of crimes and was detained by the police. analysts say that this decision, this ruling to liquidate evergrande, is good news for china's economy in the long run, but it will be pal. according to andrew collier of orient capital research, he says this, "evergrande's liquidation is a sign china is willing to go to extreme ends to quell the property bubble. this is good for the economy in the long term, but very difficult in the short term." we also learned this. "it is not an end but a beginning of the long process which will make evergrande's daily deliberations even harder. investors will be concerned whether there will be a snowball effect on other developers as

evergrande. the chinese markets heading to lunch. and we have japanese ones returning. the bank of japan and focus once more here. haslinda: that's right. the nikkei 225 under pressure, down half a percent right down by tech after u.s. tech giants disappointed. the nikkei back under the 36,000 level, but some say the reality is sustainable given it is emerging from deflation, and reforming in terms of corporate governance. the trend they say is on the upside. the yen at 147 point 71, flat pretty much the unique weekend story has been persisting. it's at its worst month in about a year. rishaad: that's check in with what we have with oil prices. checking in with wti trading at $77, $.49 per barrel. first monthly gains in september against a backdrop of what's going on in the red sea and other geopolitical flashpoints. saudi arabia with a reversal of expansion plans raising questions about the demand outlook. david stringer leads our asia company coverage. are we finally seeing shifts in the market

shares in china's evergrande plunged 21% before they were suspended from trading.ation order from a hong kong court. the judge saying the property developer will be taken over by new management in order to carve up $300 billion in liabilities. as of friday, evergrande's dollar notes traded at 1.5 cents on the dollar. blackstone betting big on ai through its 25 billion dollar investment in data center operator gtx. the private equity giants over qps in 2021 in a $10 billion deal. it is bankrolling the development of new data centers across the u.s.. project is facing backlash from local communities. many of whom do not want the ugly buildings in their backyards. that is your bloomberg brief. jonathan: next on the program, pricing in the fed's first cut. >> you probably need more weakening in the labor market. you need both to slow for the fed to get back to 2% in a sustainable way. we are not seeing growth slowing that much. jonathan: that conversation is coming up next. you are watching "bloomberg surveillance." live from new york city, this is bloomberg. ♪ (captiv

evergrande's shares fell by 20% on the exchange in hong kong, before trading was suspended. 0ur chinaying to understand how this is going to play out. one problem is it's not even guaranteed that officials in china will recognise the court—appointed liquidator�*s right to be able to seize assets in mainland china. i mean, according to some estimates, only a very small percentage of what's owed can possibly be repaid via this method and so, in a funny way, it's also the chinese system on trial, if i could put it that way. this country wants more foreign investment and investors are going to be looking at how this plays out and if these international creditors, and they're the ones who've brought this to the courts in hong kong in the first place, if they can't get their money back, if they can't get access to these assets that evergrande has in mainland china, well, i think yet again there will be people questioning should i really be investing that much money in china? is it too risky? so a lot to be played out yet. funnily enough, in the interim, for potentially years to come, evergr

david: this group has a lot of interest including china evergrande.he taiwan story, largely higher, we have come off highs on the benchmark. weaknesses permeating was far as currency. when you look at currency and is coming back. the dollar is broadly stronger so this is in line with the move across the asian complex. some relief, still elevated but not levels we had on friday. i will toss it back to you. yvonne: you mentioned there is a boost to the markets. it is the status quo and divided government. maybe that's why we see markets taking it in stride. we will see centrist policies and cooler heads prevail from the u.s., china and taiwan so that's lifting the mood. let's bring in paul from first investment securities trust. what we are seeing in markets is relief. is this a reduction of political uncertainty or any sort of material change? >> thank you for having me. indeed, if we look at the market it is a little different. we believe strong momentum from overseas can keep going. we've seen overseas inflows, -70 billion. last year starting from th

that much money in china, is it too risky? played out yet. and funnily enough, in the interim, for potentially years to come, evergrande will keep building buildings here because there's a lot of unwinding, a lot of reorganisation that has to take place, and even, would you believe, the chance of yet another attempt to strike a deal to somehow bail them out. two teenage boys who died after being stabbed in bristol have been named locally as 15—year—old mason rist and 16—year—old max dixon. witnesses say they were attacked by a group of people who fled in a car. police in bristol say they have arrested a 44—year—old man and a 15—year—old boy and they remain in custody. police have begun a murder investigation and they said a vehicle had been seized. our correspondent fiona lamdin is in south bristol. i'm in south bristol where police are now investigating a double murder. max dixon was 16, mason rist was 15. and both boys were attacked here at about 11:20pm on saturday evening. as soon as the police were called they were here w

evergrande is headquartered in china but the shares of the company are listed on the hong kong stockhange. hong kong—based debt analystjackson exchange. hong kong—based debt analyst jackson chung told me his assessment of the unfolding crisis. �* ., ., . crisis. after the announcement ofthe crisis. after the announcement of the winding _ crisis. after the announcement of the winding up _ crisis. after the announcement of the winding up order, - crisis. after the announcement of the winding up order, a - of the winding up order, a liquidator has been appointed to arrange the meeting and secure the disposal. the deck with —— liquidator will try to squeeze the maximum value out of the evergrande assets and it will come the key to determine the value of the bond.- the value of the bond. what is happening _ the value of the bond. what is happening to _ the value of the bond. what is happening to property - the value of the bond. what is happening to property buyersl happening to property buyers who have already put down deposits on potential flats? who have already put down deposits on po

a lot of focus on the property woes and the china market with evergrande, of course, setting the tonend making the session becoming more negative as things went on. hang seng down 2.3%. here in europe, the stoxx 600 is positive on the day. it is up more than .30%. the ftse 100 as you see is up .60%. we have the dax trading flat just shy of 17,000. cac 40 in france is up .30%. luxury in focus and we spoke earlier on the show about diageo underwhelminging. disappointing sales in latin america and north america. that has been the picture for you'r european markets. we have reestablished connection with christian edelmann from oliver wyman. christian, you were talking about further cost cuts. let me pivot a bit and ask about the macro picture. we had gdp numbers from the eurozone this morning suggesting it is not doing that well. i wonder if you are seeing signs of credit distress or the likelihood of further default in the system this year. >> i think that's a great point. we believe there a bit of complacency with investors with the credit outlook for europe. we highlighted germany and

evergrande is headquartered in china's guangdong province. but — the shares of the company are listed on the hong kong stock exchange. hong kong—based debt analyst jackson chan gave me his assessment of the unfolding crisis. after the announcement of the winding up order, to a liquidated range. and security assets also. the liquidator will try to squeeze the maximum value out of the ever grand and offshore as as and it will become the key to recover the value of the pond.— value of the pond. what is happening _ value of the pond. what is happening to _ value of the pond. what is happening to property - value of the pond. what is i happening to property buyers who have already put down deposits on potential flats? who have already put down deposits on potentialflats? do you think they will be able to get their money back? i you think they will be able to get their money back? i think that apart _ get their money back? i think that apart from _ get their money back? i think that apart from the _ get their money back? i think that apart from the

large real estate in china.tate in china. what is this due to investor confidence . large real estate in china. what is this due to investor confidence in | this due to investor confidence in china and the economy more broadly? if we were to look at the market response — if we were to look at the market response to the news, you have just mentioned, — response to the news, you have just mentioned, there was a shocked reaction — mentioned, there was a shocked reaction before the announcement from the _ reaction before the announcement from the court was actually released. but after that, the response has been rather mild. i think— response has been rather mild. i think it _ response has been rather mild. i think it would be hard for me to imagine — think it would be hard for me to imagine that there were no sufficient discussions between hong kon- sufficient discussions between hong kong and _ sufficient discussions between hong kong and beijing in terms of the contingency plans in response to the evergrande situ

to the other— contained this risk of evergrande to the other companies in china. investing _ the otherhe economy more broadl ? ., ., ~' investing in the economy more broadl ? ., ., ,, broadly? looking at the market resonse broadly? looking at the market response to _ broadly? looking at the market response to the _ broadly? looking at the market response to the news, - broadly? looking at the market response to the news, the - broadly? looking at the market - response to the news, the government had a _ response to the news, the government had a sharp— response to the news, the government had a sharp reaction and before the announcement from the court and after— announcement from the court and after that, — announcement from the court and after that, the responses rather rnild _ after that, the responses rather mild and — after that, the responses rather mild and hard for me to imagine the discussions — mild and hard for me to imagine the discussions between hong kong and beijing _ discussions between hong kong and beijing in— discussions between hong kong and beijing in terms of the c

it is likely to send ripples through china's financial markets, trading in evergrande's financials throughhave discussed their withdrawal from ecowas. it is in response to the coups carried out in their own countries. nigeria, mali, burkina faso have already been suspended from the block which has been urging them to return to democratic rule. the country hasissued to democratic rule. the country has issued a joint statement accusing ecowas of failing to provide support for what they called the existential fight against terrorism and insecurity in the region. translation:- insecurity in the region. translation: �* ' , ., , translation: after 49 years the value peeple _ translation: after 49 years the value peeple of — translation: after 49 years the value people of burkina _ translation: after 49 years the value people of burkina faso, - value people of burkina faso, mali, nigeria regretfully and with great discipline observed that the organisation has drifted from the ideals of its founding fathers and the spirit of pan africanism, they argue that ecowas, underfinancials, that ecowas, und

evergrande is the worst casualty of china's real estate boom and bust, with debts of more than $300 billion. duncan wrigley is chief china economist at pantheon macro—economics. he says it is going to be difficult for investors to recover their money from the chinese mainland. well, the next step is a hong kong court will appoint liquidators who will take over the running of the top level of the company from the management. the company has two sets of assets. offshore assets, things like shareholdings and some other subsidiary companies, those assets are very readily accessible. the issue is that most of the company's assets are onshore in mainland china, they are land, properties — the company had 1,200 projects at different stages of development as of 2022. but those assets are going to be tricky to access. in theory, hong kong and mainland have a 2021 arrangement for resolving insolvent companies like evergrande, but in practice what needs to happen is mainland courts will need to recognise this liquidation, but they also need co—operation from local governments. i think it will be very

china's developers down as much as 3%. investor sentiment down by evergrande liquidation order. down about 3%. keep it here with i don't want you to move. i'm gonna miss you so much. you realize we'll have internet waiting for us at the new place, right? oh, we know. we just like making a scene. transferring your services has never been easier. get connected on the day of your move with the xfinity app. can i sleep over at your new place? can katie sleep over tonight? sure, honey! this generation is so dramatic! move with the xfinity 10g network. down day for the c.s.i. it is at the moment seeing evidence off by 3 4 of 1%. the likes of alibaba deadlining as well. it's all down to pressure of beijing continuing to point on mount on the policymakers to revive confidence. so we have the hopes of a stimulus passage as well as as the -- on bond market, the government bond yield falling to its lowest level in nearly 22 years. the hong kong market. the tech players, alibaba and bidu as well as 10 cent there and the overall asian market is .2% low because outside of china and greater ch

we are looking at evergrande shares under pressure. hong kong court ordering the company to be liquidated. what is the risk to other areas of the global economy when it comes to china? >> we think the challenge is that china impacts so many other parts of the economy. where you are a multinational that is selling into china or you are a multinational using china with production and services, the reality is it is hard to get the foeel for the numbers coming out of china. as we look at companies on a global scale, it is hard to know how much impact is there. what we believe is we continue to see a slowdown in spending from china. that will put a detriment to a lot of the revenue growth we may have seen for multi nationals for a key source of growth going forward. for us, it is a hard to put a valuation on something where the underlying data. >> alan, thank you. >>> coming up on "worldwide exchange," we turn to the argentinean soaring stock market with the unrest and sweeping economic reforms, but is the onvestor enthusiasm too much too s

evergrande was the poster child for china's real—estate boom but has become the worst casualty of thean $300 billion. duncan wrigley is chief china economist at pantheon macro—economics. he says it's going to be difficult for investors to recover their money. well, the next step is a hong kong court will appoint liquidators who will take over the running of the top level of the company from the management. the company has two sets of assets. offshore assets, things like shareholdings and some other subsidiary companies, those assets are very readily accessible. the issue is that most of the company's assets are onshore in mainland china, they are land, properties — the company had 1,200 projects at different stages of development as of 2022. but those assets are going to be tricky to access. in theory, hong kong and mainland have a 2021 arrangement for resolving insolvent companies like evergrande, but in practice what needs to happen is mainland courts will need to recognise this liquidation, but they also need co—operation from local governments. i think it will be very tricky. this

evergrande is headquartered in china but the shares of the company are listed on the hong kong stockncement of the winding up order, the court has appointed alvarez and marsal as the liquidator to arrange the crisis meeting and secure the assets. the deck with —— liquidator will try to squeeze the maximum value out of the evergrande assets and it will come the key to determine the value of the bond. what is happening to property buyers who have already put down deposits on potential flats? do you think they will be able to

it was once china's biggest real estate firm but was marred by hundreds of billions of dollars in debtd billions of dollars in debt. thejudge said there had been billions of dollars in debt. the judge said there had been a lack of progress in coming up with a viable restructure plan. the movie is likely to send ripples through the financial markets, and trading in evergrande's shares have been suspended on the hong kong stock exchange. this week saw the first ever execution by nitrogen hypoxia in the us state of alabama. and there's been a global reaction with the un condemning the act, as did the eu and the white house but now, top law enforcement official in alabama is promising more such executions to come. they've out also share the method with other us states. after 35 years in java prison kenneth eugene smith was put to death thursday night. the attorney—general called the new method humane and said 43 other death—row inmates in the state had requested to be executed by nitrogen. that human rights groups have condemned the method as cruel and torturous. this is how one media witn

the company, which has extensive holdings in china, has more than $300 billion in liabilities. we'll have more on this in world business report in a few minutes, here on bbc news. —— world business report. north korea says it tested its strategic cruise missiles for the second time in a week on sunday. the state—run kcna news agency reported that the cruise missiles flew for more than two hours. japan says its moon lander, which was shut down due to a solar panel malfunction, is now working again, after the panels were fixed. japan is only the fifth nation, after the us, the soviet union, china and india, to land on the lunar surface. the social media site x — formerly known as twitter — has blocked users for searching for taylor swift. this is the message which comes up when a search for the american singer and songwriter is entered into the website. it comes after faked explicit images of the singer spread across the site earlier this week. x says the action is only temporary. it's believed that some of the images — we're not showing them here — were generated by artificial i

evergrande is headquartered in china�*s guangdong province.he maximum value out of the ever grand and offshore as as and it will become the key to recover the value of the pond.— value of the pond. what is happening _ value of the pond. what is happening to _ value of the pond. what is happening to property - value of the pond. what is i happening to property buyers who have already put down deposits on potential flats? who have already put down deposits on potentialflats? do you think they will be able to get their money back? i

and in china , the country's largest developer is being liquidated evergrande. hong kong court. the developer owes creditors more than $300 billion. at the same time , evergrant management was unable to propose a plan for restructuring the debt . following the court's decision, the company stopped trading shares on the hong kong stock exchange. evergrand was founded in 1996 and became the most striking example of the overheating of the chinese real estate market. it was economic news, briefly. does she really read minds or not? premiere. anna ostrovskaya, investigative committee. she has special gifts. who are you looking at anyway? well, look, the girl is worth making money. maybe this dream of mine is somehow connected with this matter? and do you know who the killer is? yes, just watch without doing anything on your own, stand still, don’t move, for some reason i believe you, anna is a medium, let’s watch. before anyone else in the app or website. the ministry of finance together with the government will work on expanding financial benefits for participants i

evergrande is headquartered in china but the shares of the company are listed on the hong kong stock after the announcement ofthe crisis. after the announcement of the winding _ crisis. after the announcement of the winding up _ crisis. after the announcement of the winding up order, - crisis. after the announcement of the winding up order, a - of the winding up order, a liquidator has been appointed to arrange the meeting and secure the disposal. the deck with —— liquidator will try to squeeze the maximum value out of the evergrande assets and it will come the key to determine the value of the bond.- the value of the bond. what is happening _ the value of the bond. what is happening to _ the value of the bond. what is happening to property - the value of the bond. what is happening to property buyers| happening to property buyers who have already put down deposits on potential flats? who have already put down deposits on potentialflats? do you think they will be able to get their money back? i you think they will be able to get their money back?

evergrande is the worst casualty of china's real estate boom and bust, with debts of more than $300 billion be difficult for investors to recover their money from the chinese mainland. well, the next step is a hong kong court will appoint liquidators who will take over the running of the top level of the company from the management. the company has two sets of assets. offshore assets, things like shareholdings and some other subsidiary companies, those assets are very

circling back to china's economic - back to china's economic downturn in its property sector.eveloper evergrande is under way in hong kong but today all eyes will be on whether the firm will be ordered to liquidate its assets. evergrande is the worlds most indebted property developer with more than $300 million in liabilities. it defaulted on its debts in 2021 and has been working on any repayment plan ever since. working on any repayment plan eversince. china working on any repayment plan ever since. china and the us have been battling over semiconductors that power everything from cars to smartphones. the biden administration will reportedly award billions of dollars in subsidies to chipmakers in the coming weeks to boost semiconductor production in the united states. the plans first reported by the wall street journal are part of the $53 billion chips and science act. both domestic and foreign chipmakers are expected to get a share of of the funds. social media platform x is hiring 100 content moderators for its new office in texas. the team will focus on restricting child—

. >>> we'll get to china worries, court orders evergrande too liquidate, most indebted property companyn the world. >>> rob gronkowski will join us as the parent of fanduel, flutter, gets ready to make its big board debut. you always got your mind on the green. not you. you! your business bank account with quickbooks money now earns 5% apy. (♪♪) that's how you business differently. intuit quickbooks. i think he's having a midlife crisis that's how you business dii'm not.y. you got us t-mobile home internet lite. after a week of streaming they knocked us down... ...to dial up speeds. like from the 90s. great times. all i can do say is that my life is pre-- i like watching the puddles gather rain. -hey, your mom and i procreated to that song. oh, ew! i think you've said enough. why don't we just switch to xfinity like everyone else? then you would know what year it was. i know what year it is. >>> embattled chinese real estate giant evergrande has been ordered to liquiddate by a cour in hong kong. eunice yoon joins us with the latest. >> a hong kong judge literally said, enough is enough.

. >>> let's start in china, the largest property developer evergrande was ordered to liquidate over the weekend after a restructuring deals fail. >>> meantime, x formerly known as twitter has suspended search results for taylor swift after deep fake pornographic images of the singer went viral last week. the social media platform said the limitations are temporarily. >>> and amazon will start running ads on its prime video service today, joining streaming rivals like netflix, disney and peacock. subscribers will see commercials and videos and shows unless they pay an extra $3 a month for an ad-free plan. the new tier is expected to generate some $5 billion in ad revenue for amazon. >> all right that's pretty penny. bertha, thank you. >>> coming up, caught on camera. a pet owner seen clinging to the hood of a car trying to save her stolen dog, the breed being stolen dog, the breed being targeted by teves inhi l imagine if you could get ahead of your ibs-c... ♪ by treating it with linzess. then you could start proactively managing your constipation with belly pain, and begin to find yours

evergrande was the poster child for china's real estate boom but has become the worst casualty of the$300 billion. duncan wrigley is chief china economist at pantheon macroeconomics. he says it's going to be difficult for investors to recover their money. well, the next step is a hong kong court will appoint liquidators who will take over the running of the top level of the company from the management. the company has two sets of assets. 0ffshore assets, things like shareholdings and some other subsidiary companies, those assets are very readily accessible. the issue is that most of the company's assets are onshore in mainland china, they're land, properties — the company had 1,200 projects at different stages of development as of 2022. but those assets are going to be tricky to access. in theory, hong kong and mainland have a 2021 arrangement for resolving insolvent companies like evergrande, but in practice what needs to happen is mainland courts will need to recognise this liquidation, but they also need co—operation from local governments. i think it will be very tricky. this is j

maria: there's the unknown of china.equired evergrande to liquidate despite the push to come to a deal over the weekend. the country's largest property developer was halted after falling 20% and i'm wondering if this is a bigger problem you across the world. evergrande now ordered to liquidate. >> i'll tell you what, if you didn't know that building ghost towns was bad business, now you know because this has been a complete disaster. your question to ken mahoney earlier in the show about whether or not the contagion could spread, how much exposure u.s. banks have, a few years ago, i think it was citigroup, jp morgan and bank of america, all three said they had no direct exposure and i think at least citigroup and bank of america made it so sound like ty had no indirect exposure either. hopefully it doesn't spread. hopefully we don't get any of that here. this is a complete meltdown from building too much real estate that nobody wanted. maria: we'll see. jamie dimon is worried about the potential of a recession. we're not

evergrande. it effects everything we're doing -- we had a panel earlier, talking about treasury auctions, china is a big player in our auction. how does this effect that? >> you know, guys have been the higher for longer camp, and the last question you answered is, i can't really predict rates, but the whole idea that for rates to go down precipitously, and at one point, five or six cuts were priced in. we debate on this desk, what would need to happen for that? something not good. on the flip side of that, though, and none of us are going to try to predict that, higher for longer, what does that mean for you? inflation is a bit stickier, the economy, you know, we have unemployment that stays below 4%? >> i think it's the goldilocks scenario. there is gdp growth but it's tepid. there's cpi that's sort of in line and not really problematic, that needs to -- or -- not -- you don't need to see a rate increase. but there's no real catalyst to actually reduce rates. and i think that being in that gold

i think evergrande is a very, very big deal and i think we've had a chance to reflect on china as japan goes to fresh all-time highs after 37 years and understand what a credit crisis can do to an economy and how long it takes to get through that and past that even though i've always said china can paper over a lot more problems than anybodies. >> all right, there's a lot more to come here on "fast money. here's what's coming up next >>> you got to see amd shares surging, as the a.i. trade stays front and center so, can semi stocks keep pumping your portfolio that's next. >>> plus, let's take a deal in bio tech, after a record year for m&a in the space we're looking at who could get scooped up in 2024 the names our next guest is keeping an eye on, ahead you're watching "fast money," live from the nasdaq market site in times square. we're back right after this. to help you see untapped possibilities and relentlessly work with you to make them real. fresh, warm hot dogs! when i'm not selling hot dogs, i invest in a fund that advances innovations like robotics. fresh, warm hot dogs, straig

stephanie: evergrande's collapse could also put new pressure on china's already slowing economy. for international sports disqualified russian figure skater kamila valieva today from the 2022 beijing olympics. it followed a two-year doping investigation. valieva had led her team to a gold medal, but her positive test for a banned medication was revealed hours later. now, the russians will likely be stripped of their win, and the u.s. will get the gold medal instead. a japanese moon lander is back in action, for now, after it landed wrong side up. the country's first lunar mission made a rough landing on january 20, and its solar panels were unable to catch sunlight. today, officials said the sun's position has shifted enough to charge the batteries and let the lander analyze rocks and take pictures. a pulitzer prize winning writer n. scott momaday has died at his home in santa fe, new mexico. he was a pioneer of modern native american literature and its culture and oral tradition shaped his novels, essays, and poetry. his debut novel, "house made of dawn," won the pulitzer prize

geoff: evergrande's collapse could also put new pressure on china's already slowing economy.rt for international sports disqualified russian figure skater kamila valieva today from the 2022 beijing olympics. it followed a two-year doping investigation. valieva had led her team to a gold medal, but her positive test for a banned medication was revealed hours later. now, the russians will likely be stripped of their win, and the u.s. will get the gold medal instead. a japanese moon lander is back in action, for now, teit the country's first lunar mission made a rough lding on january 20, and its solar panels were unable to catch sunlight. today, officials said the sun's position has shifted enough to charge the batteries and let the lander analyze rocks and take pictures. on wall street, stocks got the week off to a running start. the dow jones industrial average gained 224 points to close at 38,333. the nasdaq rose 172 points. the s&p 500 added 37 points. and pulitzer prize-winning writer n. scott momaday has died at his home in santa fe, new mexico. he was a pioneer of modern

and in china , the country's largest developer, ever grand, is being liquidated. this decision was made by a hong kong court. the developer owes creditors more than $300 billion. at the same time , evergrande management was unable to propose a plan for restructuring the debt . following the court's decision, the company stopped trading shares on the hong kong stock exchange. evernt was founded in the nineties sixth year and became the most striking example of overheating of the chinese real estate market. these were. economics in short. alfabank has the best loyalty program for business. we pay 3.00 rub. for opening an account and up to 10% cashback for expenses. it is profitable to retire in the new year with a savings bank. for pensioners, a free sbercard and a favorable deposit rate. cashback bonuses in pharmacies - loan discount. transfer your pension to sberbank, online or in a branch. rather than watching it 100 times, it’s better to spin it once. order sovita with delivery from one ruble, check that the product suits you, and then confirm the payment. just

>> it used to be china's largest property developer.ue to a significant debt crisis. what has happened now is indeed the court has ruled that they have to pick up their business really. and what we're learning also in the sense is we're talking about 300 billion u.s. dollars in liability. so there's ooh a lot for the company to resolve. what we also know is in essence ever grapd has failed to convince the court they had a solid restructuring plan. it's important to keep in mind as well evergrande can still appeal the court ee decision, but when you look at the market reaction so far today, shares of evergrande had to be halted in hong kong after they dropped over 20%. so significant movie's there. it's un-c.l.e.a.r. what this will mean in terms of potential measures from chinese authorities to essentially make sure that this debt crisis does not carry over into other developers. >> we'll be watching that to be certain. cnbc's silvia amaro live from london. thank you so much. we'll talk to you again tomorrow. >>> still ahead on "way too