Evergrande crisis will hurt China’s economic growth, says former central bank advisor

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CNBC 22 September, 2021 - 12:10am 31 views

How much does evergrande owe?

Evergrande now owes more than $300 billion, and everyone who did business with the company, from steel mills and decorators to would-be homeowners to bond buyers and banks, is being hung out to dry. Slate MagazineWhy Evergrande Is Causing Panic in Stock Markets Everywhere

Evergrande Default Likely Without Direct Support, S&P Says

Bloomberg Markets and Finance 22 September, 2021 - 01:20am

European stocks opened higher on Tuesday, bouncing back from heightened investor nerves over a Chinese property developer and ahead of a two-day meeting of the U.S. Federal Reserve.

The pan-European Stoxx 600 index opened 0.4% higher and then rose to trade 0.7% higher with all sectors in positive territory, apart from healthcare stocks.

Basic resources and oil and gas stocks were the best performers on the index amid consumer and business worries over a shortage of natural gas in the region, as well as media stocks.

Universal Music Group shares surged in its stock market debut on Tuesday which marked Europe's largest listing, so far, of 2021. The company opened trading at around 25.05 euros ($29.37) per share, more than 35% above the reference price of 18.5 euros per share.

Airline groups IAG and Lufthansa and travel retailer Dufry were among the best performers on the index, perhaps boosted by the U.S.' announcement on Monday that it is to ease travel restrictions on fully vaccinated travelers from the U.K. and EU.

Shares of British DIY group Kingfisher were trading 4.2% lower, making it among the worst performers on the Stoxx 600, despite the company reporting a 61.6% jump in first-half pretax profit largely thanks to a home improvement boom during the pandemic.

The rebound for European stocks comes after markets got off to a poor start to the week, closing lower on Monday amid investor fears surrounding embattled property developer China Evergrande Group and concerns about the contagion risk for the wider Chinese and global economy.

Read more: The global economy could feel the effects of China's Evergrande crisis. Here's what investors should know

Hong Kong equities saw a big sell-off during the Asia trading session on Monday with the benchmark Hang Seng index plunging 4% as the developer teetered on the brink of default. Shares of China Evergrande Group plummeted 10.24% during the Asian trading session, after falling as much as 17% earlier.

Shares in Asia-Pacific were lower in Tuesday trade, with markets in mainland China and South Korea closed on Tuesday for a holiday.

European markets were also rattled by sharp declines in the U.S. on Monday where stocks began the week deeply in the red as investors continued to flock to the sidelines in September amid fears over China, the Fed and Covid, with the pandemic set to become the most deadly outbreak in recent American history.

Top of the agenda for investors on Tuesday is the start of the U.S. Federal Reserve's highly anticipated September meeting. Fed Chair Jerome Powell will hold a press conference Wednesday at the conclusion of the two-day meeting with investors looking out for any indications about the Fed's tapering of its easy monetary policy.

Powell has said the tapering could occur this year but investors are waiting for more specifics, particularly after mixed economic data released since Powell's last comments.

There are no major or data releases in Europe on Tuesday.

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What Is China Evergrande And How Is It Unsettling Global Markets?

Bloomberg Quicktake: Now 22 September, 2021 - 01:20am

Explained | Why Default Threat Of China's Evergrande Is Causing Global Market Sell-Off

moneycontrol 22 September, 2021 - 01:20am

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On Monday, Apple released Safari 15, bringing new macOS Monterey features and design changes to current versions of Apple's Mac operating systems.

The Safari 15 update can be installed on Macs running macOS Big Sur or macOS Catalina. It introduces faster performance, improved security, and several new features that will debut on macOS Monterey when it's released later in 2021.

The updates include Tab Groups, which lets users save and organize tabs into specific groups. Apple has also redesigned tabs to be rounder and more defined, and to take on the color of the webpage a user is currently on.

Safari 15 also introduces the option to switch to a "compact tab bar," which shows more of the webpage on a screen. This specific tab design was supposed to be the default, but proved confusing and controversial for some users. In Safari 15, it's still an option.

Additionally, the new version of Safari will also automatically switch sites from the less-secure HTTP to HTTPS whenever possible.

Users can download Safari 15 by heading to System Preferences and selecting Software Update. The update is relatively small, and doesn't require a restart.

It isn't clear when Apple will release macOS Monterey to the public, though it could debut the software update after a Mac-focused event unveiling 14-inch and 16-inch MacBook Pro models later in 2021.

Love the new changes, although watch out on some websites. Safari's adopting of the color of website to be used on the tab bar and toolbar makes for a very loud (brightly colored) experience. The BBC's website, for example, is one very red surfing experience.  :D

How do you tun off the feature of the tool bar adopting website color? 

A newly discovered bug in all versions of macOS, including the latest macOS Big Sur, allows attackers to run arbitrary code remotely with the help of files embedded in emails.

SharePlay has returned for the iOS 15.1 and macOS Monterey betas, meaning the feature could see release in the next major update.

Apple has reached the seventh beta for macOS Monterey, in what could be one of the last builds before its release to end users.

A newly discovered bug in all versions of macOS, including the latest macOS Big Sur, allows attackers to run arbitrary code remotely with the help of files embedded in emails.

SharePlay has returned for the iOS 15.1 and macOS Monterey betas, meaning the feature could see release in the next major update.

Apple has reached the seventh beta for macOS Monterey, in what could be one of the last builds before its release to end users.

After successfully launching iOS 15 earlier this week, Apple is out with the first betas of iOS 15.1. We take you hands on with the new features expected to launch with these new updates later this fall.

Alongside the as-yet unreleased Apple Watch Series 7, Apple also released a refreshed lineup of Apple Watch bands. We go hands on with them to check them out.

Apple's supremely soft leather cases have once again been updated for the latest batch of iPhones. Ahead of the iPhone 13 release, we go hands-on with all the new colors.

In this week's episode of "This Week in Apple," we talk about Apple's iPhone 13 event, which phone may be most popular, and what other Apple products we may be seeing soon.

With iPhone 13 now available to order, we go hands-on with Apple's official first-party silicone case options for its newest smartphone.

You might have wanted more, especially from iPadOS 15, but what we've got with it and iOS 15 is a combination of refinements and new features that make this a particularly compelling upgrade.

The ReST Smart Bed is a fully adjustable mattress that uses a bevy of sensors to give you the most comfortable night sleep and is paired with iPhone connectivity for granular control.

The Satechi Aluminum Stand & Hub combines a compact stand with a handful of ports to achieve a minimalist iPad Pro desk setup.

One of Apple's most touted features on iPhone 12 — MagSafe — finally makes its way to iPhone 11 thanks to Moment's new premium cases.

Nomad's tempered glass screen protector is designed for the iPhone 12 with minimal bells and whistles, but nails the core functionality.

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