Trading of shares of heavily indebted property developer China Evergrande suspended in Hong Kong
Residents walk past a map showing Evergrande development projects in China, at an Evergrande city plaza in Beijing, Sept. 18, 2023. (AP Photo/Andy Wong)
HONG KONG -
Share trading of heavily indebted Chinese property developer China Evergrande Group was suspended in Hong Kong on Thursday, according to a notice on the Hong Kong stock exchange.
The suspension comes after Bloomberg News reported that the chairman of Evergrande, Hui Ka Yan, had been taken away earlier this month and placed under police watch according to people with knowledge of the matter.
Shares of Evergrande closed at 32 Hong Kong cents on Wednesday. The company had resumed trading on Aug. 28 after a 17-month hiatus.
Evergrande is the world's most heavily indebted real estate developer and is at the centre of a property market crisis that is dragging on China's economic growth.
Last week, Evergrande said in a filing that it had to delay a proposed debt restructuring meeting with creditors as "sales of the group have not been as expected by the company."
The group is undergoing a restructuring plan, including offloading assets, to avoid defaulting on US$340 billion in debt.
On Friday, China's national financial regulator announced it had approved the takeover of the group's life insurance arm by a new state-owned entity.
Earlier in September, police in Shenzhen, a southern Chinese city, said they had detained some staff at China Evergrande Group's wealth management unit.
A series of debt defaults in China's sprawling property sector since 2021 have left behind half-finished apartment buildings and disgruntled homebuyers. Observers fear the real estate crisis may further slow the world's second-largest economy and spill over globally.
Shopping Trends
The Shopping Trends team is independent of the journalists at CTV News. We may earn a commission when you use our links to shop. Read about us.
YOUR FINANCES
A holiday meal in Canada will be an 'expensive proposition': food lab
Celebrating with your family this December could come with increased expenses as data shows many traditional holiday foods are going up in price.
Canadians increasingly turning to charities to meet essential needs, but cost of living also hitting donations
Every Giving Tuesday, many Canadians generously dig into their wallets to donate to charities, but as the cost of living climbs, research suggests many Canadians are also in need of help.
What is the grocery code of conduct, and will it help to lower the cost of food?
Canada's grocery code of conduct is in the final stages with advocates saying it would help lower food prices while big grocers say it won't.
Poor Inuit housing 'direct result of colonialism': federal housing advocate
A federal housing advocate is accusing every level of government in Canada of failing to uphold the Inuit's right to housing -- and therefore denying their human rights.
Having financial problems? Don't get caught in debt relief scams
With inflation, rising interest rates, and higher costs for gas, groceries and housing, many Canadians are feeling the financial pinch and now personal bankruptcies are on the rise.
Do you tip at a restaurant like Chipotle? Here’s what a survey found
But the majority of Americans say they tip 15 per cent or less for a typical meal at a sit-down restaurant, according to a wide-ranging new poll on tipping attitudes from Pew Research Center. The poll surveyed nearly 12,000 people.
Loblaw raises the affordability alarm as grocery code of conduct nears completion
As the grocery code of conduct nears completion, the Canadian industry's biggest player is raising concerns the guidelines could add fuel to the food inflation fire.
Here's how much it costs to raise children in Canada, according to new statistics
A new report from Statistics Canada estimates how much parents will spend on children over the course of their lifetime.
CTVNews.ca Top Stories
Filmmakers in Bruce Peninsula 'accidentally' discover 128-year-old shipwreck
Yvonne Drebert and Zach Melnick were looking for invasive mussels when they found something no has laid on eyes for 128 years.
NHL veteran Perry apologizes for 'inappropriate' behaviour, says he is seeking help
Corey Perry says he has started seeking help for his struggles with alcohol following his release from the NHL's Chicago Blackhawks.
Chinstrap penguins nod off more than 10,000 times per day in seconds-long 'microsleeps,' study finds
A new study has documented the peculiar sleeping habits of this species of penguin. Instead of taking one long continuous period of sleep, chinstrap penguins prefer to sleep in seconds-long intervals, more than 10,000 times a day.
Factors behind Canada's drug shortages go back 'decades': expert
Experts say drug shortages have gradually worsened in Canada over the last decade, putting patients in difficult and sometimes dangerous positions. But potential solutions like rethinking where drug manufacturing is concentrated and expanding pharmacists' prescribing privileges could help ease those impacts.
Israeli military confirms release of 8 more Israeli hostages from captivity in Gaza Strip
Hamas freed eight Israeli hostages Thursday in exchange for Israel's release of more Palestinian prisoners under a last-minute deal to extend their ceasefire in Gaza by another day.
Claims of toxic workplace at CSIS absolutely 'devastating': PM says
Allegations of a toxic workplace culture, involving harassment and sexual assault at Canada's spy agency are 'devastating' and 'absolutely unacceptable,' Prime Minister Justin Trudeau said on Thursday.
Suspect arrested in Morocco could be behind Ontario bomb threats, OPP says
Investigators have 'strong reason' to believe that a suspect taken into custody in Morocco could be behind numerous bomb threats across Ontario in early November, police say.
U.S. prosecutors say plots to assassinate Sikh leaders were part of a campaign of planned killings
A foiled plot to assassinate a prominent Sikh separatist leader in New York, just days after another activist's killing, was meant to precede a string of other politically motivated murders in the United States and Canada, according to U.S. prosecutors.
Alberta set for $5.5B budget surplus, despite big bucks for fires, floods and drought
Alberta’s budget surplus is growing but will be offset by more than $1 billion this year to pay for floods, forest fires and drought.
Canada
-
Suspect arrested in Morocco could be behind Ontario bomb threats, OPP says
Investigators have 'strong reason' to believe that a suspect taken into custody in Morocco could be behind numerous bomb threats across Ontario in early November, police say.
-
Factors behind Canada's drug shortages go back 'decades': expert
Experts say drug shortages have gradually worsened in Canada over the last decade, putting patients in difficult and sometimes dangerous positions. But potential solutions like rethinking where drug manufacturing is concentrated and expanding pharmacists' prescribing privileges could help ease those impacts.
-
Sask. premier expects 'no consequences' over decision to stop collecting carbon tax on electric heat
Saskatchewan Premier Scott Moe says he's not expecting "any consequences whatsoever" for the province's decision to stop collecting the carbon levy on electric heat.
-
Ex-Quebec firefighter Kenneth Marlin sentenced to 14 years for molesting kids on farm
On Thursday, Quebec Court Justice Joey Dubois sentenced Kenneth Marlin to 14 years in prison for abusing five children over the span of a decade on his parents' farm in Hemmingford, Que., a small rural town about 65 kilometres south of Montreal.
-
Southwestern Ont. hospitals facing $480M class action after patient data breached, sold on dark web
A group of southwestern Ontario hospitals is facing a potential $480-million class action lawsuit after at least 270,000 patients in the region had their data breached and reportedly sold by hackers on the dark web.
-
Alberta set for $5.5B budget surplus, despite big bucks for fires, floods and drought
Alberta’s budget surplus is growing but will be offset by more than $1 billion this year to pay for floods, forest fires and drought.
World
-
Allegations against India official linked to plot to kill Sikh separatist on U.S. soil are serious: White House
The U.S. takes very seriously the allegations against an Indian government official who is accused of directing an unsuccessful plot to assassinate a Sikh separatist on U.S. soil, White House national security spokesman John Kirby said on Thursday.
-
GOP Rep. George Santos refuses to resign and warns his expulsion from Congress would set a precedent
In his closing arguments for remaining a member of the House, a defiant Rep. George Santos depicted himself as a victim of a smear campaign by some of his colleagues and made clear that he would not resign before a vote Friday on whether he should be expelled.
-
Texas judge rips into Biden administration's handling of border in dispute over razor wire barrier
Border Patrol agents for now can cut razor wire that Texas installed on the U.S.-Mexico border under a judge's ruling that also took President Joe Biden's administration to task for its handling of immigration enforcement.
-
What to know about the Sikh independence movement following U.S. accusation that activist was targeted
The U.S. has charged an Indian national in what prosecutors allege was a failed plot to assassinate a Sikh separatist at the behest of an unnamed Indian government official.
-
Georgia county seeking to dismiss lawsuit by slave descendants over rezoning of their island homes
County commissioners in Georgia are asking a judge to throw out a lawsuit by Black residents descended from slaves who fear new zoning changes will force them to sell their island homes in one of the South's last surviving Gullah-Geechee communities.
-
New York punished 2,000 prisoners over false positive drug tests, report finds
New York's prison system unfairly punished more than 2,000 prisoners after tests of suspected contraband substances falsely tested positive for drugs, according to a report released Thursday. In hundreds of cases, the prisoners had committed no offense, but the flawed results were used to put them in solitary confinement, halt family visits, or cancel parole hearings.
Politics
-
Blasted by Bloc, Conservative MP apologizes for asking minister to speak English
Conservative MP Rachael Thomas has apologized after drawing criticism from other members of Parliament for asking Heritage Minister Pascale St-Onge to answer questions in English at a committee meeting.
-
Liberal justice minister accepts Senate changes to government bail-reform bill
Federal Justice Minister Arif Virani is urging the House of Commons to accept Senate amendments to the Liberal government's bail-reform legislation and pass it into law.
-
'The only choice': Defence Department going with Boeing to replace aging Aurora fleet
The federal government is buying at least 14 Boeing surveillance planes from the United States to replace the aging CP-140 Aurora fleet, cabinet ministers announced Thursday. The deal costs more than $10.3 billion in total, including US$5.9 billion for the jets themselves, and the planes are expected to be delivered in 2026 and 2027.
Health
-
Factors behind Canada's drug shortages go back 'decades': expert
Experts say drug shortages have gradually worsened in Canada over the last decade, putting patients in difficult and sometimes dangerous positions. But potential solutions like rethinking where drug manufacturing is concentrated and expanding pharmacists' prescribing privileges could help ease those impacts.
-
Southwestern Ont. hospitals facing $480M class action after patient data breached, sold on dark web
A group of southwestern Ontario hospitals is facing a potential $480-million class action lawsuit after at least 270,000 patients in the region had their data breached and reportedly sold by hackers on the dark web.
-
Years in the works, Canada's new 988 suicide crisis line is now available
In a massive step towards prioritizing the mental health and well-being of Canadians, the government has officially launched a nationwide, three-digit suicide crisis helpline.
Sci-Tech
-
Chinstrap penguins nod off more than 10,000 times per day in seconds-long 'microsleeps,' study finds
A new study has documented the peculiar sleeping habits of this species of penguin. Instead of taking one long continuous period of sleep, chinstrap penguins prefer to sleep in seconds-long intervals, more than 10,000 times a day.
-
Brazilian city enacts an ordinance that was secretly written by ChatGPT
City lawmakers in Brazil have enacted what appears to be the nation's first legislation written entirely by artificial intelligence -- even if they didn't know it at the time.
-
Make a mess of the streets of Toronto as a raccoon in new video game 'Trash Panda'
Have you ever wondered what it would be like to experience the city as a raccoon, wreaking havoc and being enamored with garbage? Well, a new video game created by a Toronto-based filmmaker lets you do just that. The game, ‘Trash Panda,’ was officially released on Nov. 15 and is now available for sale.
Entertainment
-
Shane MacGowan, lead singer of The Pogues and a laureate of booze and beauty, dies at age 65
Shane MacGowan, the singer-songwriter and frontman of 'Celtic Punk' band The Pogues, best known for the Christmas ballad 'Fairytale of New York,' died Thursday, his family said. He was 65.
-
After hearing, judge mulls extending pause on John Oates' sale of stake in business with Daryl Hall
A lawsuit by Daryl Hall over John Oates' plan to sell his share of the Hall & Oates duo's joint venture without the other's permission headed Thursday to court, where a judge will decide whether to keep pausing the deal.
-
Will an earlier Oscars broadcast attract more viewers? ABC plans to try the 7 p.m. slot in 2024
Academy Awards enthusiasts won't have to stay up quite as late to hear the best picture winner in March. The 96th Oscars will begin one hour early, with the official show starting at 7 p.m. Eastern for the first time, ABC said Thursday.
