Hanging by a thread
China Evergrande Group Unsponsored ADRUS16891Y1038EV1AEV1A
A real estate crisis like this can last a few years (!). And just because Chinese real estate developers are playing Final Fantasia doesn't mean that American real estate developers are moderately indebted. sind...dort apparently little has been learned from 2008
𝗠𝗮𝗿𝗸𝗲𝘁 𝗡𝗲𝘄𝘀 🗞️
𝗘𝘃𝗲𝗿𝗴𝗿𝗮𝗻𝗱𝗲 𝘄𝗮𝗰𝗸𝗲𝗹𝘁 / 𝗢𝘂𝘁 𝗼𝗳 𝗣𝗮𝗻𝗱𝗼𝗿𝗮𝘀 𝗕𝗼𝘅 / 𝗠𝗼𝗺𝗲𝗻𝘁𝘀 𝗽𝗮𝘀𝘀 𝗯𝘂𝘁 𝗡𝗙𝗧𝘀 𝗮𝗿𝗲 𝗳𝗼𝗿𝗲𝘃𝗲𝗿
𝗘𝘅-𝗗𝗮𝘁𝗲𝘀 📅
Today is ex-date for Bank of Nova Scotia ($BKN (+0,85%)), Cisco ($CIS (+0,97%)), and Weyerhaeuser ($WHC (+1,07%)).
𝗤𝘂𝗮𝗿𝘁𝗮𝗹𝘀𝘇𝗮𝗵𝗹𝗲𝗻 📈
Today, the quarterly results of Kernel Holding ($0KE (+0,08%)) and ARYZTA ($ARZTY) are presented.
𝗠𝗮𝗿𝗸𝗲𝘁𝘀 🏛️
𝗘𝘃𝗲𝗿𝗴𝗿𝗮𝗻𝗱𝗲 - Trading in Evergrande shares ($EV1A) in Hong Kong has been suspended. As a result, Asia's major indices have also been pulled down. A reason for the temporary trading halt has not been given yet, but it is known that the group missed another important interest payment.
According to Chinese online news service Cailian, Chinese real estate group Hopson ($HVP) acquired the Evergrande Property Services arm for the equivalent of 4.4 billion euros.
𝗣𝗮𝗻𝗱𝗼𝗿𝗮 𝗣𝗮𝗽𝗲𝗿𝘀 - the dataset called "Pandora Papers" includes about 11.9 million confidential documents. The dataset was leaked to the Consortium for Investigative Journalists by an anonymous source and analyzed by about 600 journalists.
The picture that now emerges is frightening but not surprising. It shows how politicians and the super-rich use offshore structures to hide their wealth from the public. Among them emerge the acting prime minister of the Czech Republic, King Abdullah II of Jordan, the acting president of Ukraine and Tony Blair. Blair allegedly bought a property in London worth €7.5 million through a shell company and saved more than €300,000 in land transfer tax through special legal constructions.
𝗖𝗿𝘆𝗽𝘁𝗼 💎
𝗡𝗙𝗧𝘀 - The new NFT technology makes it possible to make not only digital art, but also other digital objects, such as tweets, tradable. The first tweet ever posted by Twitter CEO Jack Dorsey in 2006 was sold for the equivalent of $2.9 million earlier this year. However, the NFT movement did not stop there. Since recently, it is now possible to trade real events as NFT. Among others, world-famous athletes such as Tom Brady or Tiger Woods have started to offer the most legendary moments of their sporting career for sale as tokens. These can now be purchased by fans and/or collectors. The grandmasters of chess have now also made it onto the blockchain. In the form of an NFT, the most legendary chess moves of world champion Magnus Carlsen and other celebrities can now be traded.
Image source: Cointelegraph.com
The trouble continues...
Hong Kong's Hang Seng index drops 2% amid Evergrande trading halt
Trading in the Hong Kong-listed shares of China Evergrande Group was halted on Monday as investors continue to monitor the situation surrounding the embattled developer.
"Evergrande default related stress may return to the fore as a dollar note worth USD260mn issued by Jumbo Fortune Enterprises, guaranteed by Evergrande, effectively matures today," Mizuho Bank wrote in a Monday note. "Nonpayment would constitute a default." - CNBC
𝗠𝗮𝗿𝗸𝗲𝘁 𝗡𝗲𝘄𝘀 🗞️
𝗨𝗦-𝗡𝗼𝘁𝗲𝗻𝗯𝗮𝗻𝗸 𝗞𝗼𝗻𝗳𝗲𝗿𝗲𝗻𝘇 / 𝗦𝗵𝗲𝗹𝗹 𝘃𝗲𝗿𝗸𝗮𝘂𝗳𝘁 𝗣𝗲𝗿𝗺𝗮𝗶𝗻 𝗕𝗮𝘀𝗶𝗻 / 𝗦𝗻𝗼𝗼𝗽 𝗗𝗼𝗴𝗴 𝗮𝗹𝘀 𝗡𝗙𝗧 𝗦𝗮𝗺𝗺𝗹𝗲𝗿
𝗘𝘅-𝗗𝗮𝘁𝗲𝘀 📅
Korn Ferry ($KFY (+3,04%)) and Marriot Vacations ($MAQ (+1,99%)) are trading ex-dividend today.
𝗤𝘂𝗮𝗿𝘁𝗮𝗹𝘀𝘇𝗮𝗵𝗹𝗲𝗻 📈
Today Verbio ($VBK (-1,28%)) opened its books. From the USA, General Mills ($GRM (-1,17%)) will present its figures today.
𝗜𝗣𝗢𝘀 🔔
𝗣𝗮𝗿𝗮𝘀 𝗗𝗲𝗳𝗲𝗻𝗰𝗲 𝗮𝗻𝗱 𝗦𝗽𝗮𝗰𝗲 𝗧𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝗶𝗲𝘀 - The Indian company, which has its SItz in Mumbai and has been around since 2009, plans to go public tomorrow (Thursday, 9/23-21). The company has a very broad product portfolio. The company earns 80 percent of its revenue from defense-related goods. THE remaining 20 percent comes from sales of space technology. In recent years, India's geopolitical tensions have increased enormously due to its proximity to countries such as Afghanistan and China. As a result, the Indian government has developed strong support programs for domestic defense companies to make India more militarily independent. These subsidies have also benefited Paras tremendously, allowing the company to grow even more in the future. One of the company's unique features is that all manufacturing, related testing and subsequent implementation of the technologies is done by Paras itself.
𝗠𝗮𝗿𝗸𝗲𝘁𝘀 🏛️
𝗣𝗼𝘄𝗲𝗹𝗹 - Not only Evergrande ($EV1A) caused nervousness in the markets in recent days. Investors are also eagerly awaiting the meeting of the U.S. Federal Reserve on Wednesday evening European time. The focus is on the question of curbing bond purchases, which amount to 120 billion U.S. dollars per month. The consensus is that tapering has not yet been directly addressed, but indirect hints to that effect will increase and a concept will be worked out for the November meeting.
𝗦𝗵𝗲𝗹𝗹 - Royal Dutch Shell ($R6C) will sell its business in the Permian Basin, an oil field in the U.S., to rival ConocoPhillips ($YCP (+0,97%)). The deal is worth $9.5 billion U.S. dollars. Currently, Shell produces about 175,000 barrels per day from the Permian Basin fields.
The divestment comes after a ruling required Shell to reduce net emissions by 45% by 2030, based on 2019 emissions.
𝗖𝗿𝘆𝗽𝘁𝗼 💎
𝗦𝗻𝗼𝗼𝗽 𝗗𝗼𝗴𝗴- The U.S. rapper caused quite a stir in the crypto and NFT community with a tweet last Monday. In this tweet, the rapper professes to be "CozomoMedici" - a well-known, but just until now anonymous NFT collector who holds over $17 million worth of NFTs. Following this announcement, Snoop Dogg also gave one of his followers 1 ETH ($ETH-USD (+0,14%)) from CozomoMedici's wallet to prove that indeed he is the rightful owner of the NFT collection. Snop Dogg thus owns 9 CryptoPunks, 10 Meebits, and 10 Tom Sachs Rockets, among others. The crypto and NFT community celebrated this phenomenal announcement and as a result sent numerous joint and mariuhana NFTs to CozomoMedici's wallet address.