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Tag: Fail

Britain, EU agree to pursue mini-deals if talks fail next week

October 10, 2020
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(Reuters) – Britain and the European Union have agreed to pursue ‘mini-deals’ in areas of mutual interest, such as aviation and road transport, even if trade negotiations for a wider deal break down next week, The Times https://www.thetimes.co.uk/edition/news/post-brexit-britain-and-eu-agree-to-pursue-mini-deals-if-talks-fail-next-week-8b7jrrjc8 reported on Saturday.



FILE PHOTO: EU flag are placed on broken glass and British flag in this illustration picture taken


© Reuters/DADO RUVIC
FILE PHOTO: EU flag are placed on broken glass and British flag in this illustration picture taken

European Union chief Brexit negotiator Michel Barnier and Britain’s chief negotiator David Frost have agreed that even if a wider deal proves impossible to reach on Oct. 15, contact will continue, The Times said.

In such an event, the two sides would spend November attempting to put together mini-deals to offset the likely disruption when the transition period ends on Dec. 31, the newspaper said, without citing sources.

British Prime Minister Boris Johnson has set a deadline of the Oct. 15 EU summit for a deal, but the two

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No One’s Too Big to Fail in China’s Property Market

September 28, 2020
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China Evergrande Group’s recent tumble is a wake-up call. Beijing’s latest policy shifts show it is confident that killing a dragon or two won’t cause a wildfire. 

Evergrande, one of the country’s largest developers with 2.3 trillion yuan ($337 billion) in assets, faced a crisis of confidence late last week. A dramatic selloff in its stocks and bonds followed reports the company had sent a letter to the Guangdong government warning of a potential cash crunch if it couldn’t carry out a backdoor listing in Shenzhen by January. The company said in a filing that the document was “fabricated.”

Nonetheless, investors were unnerved. The document, fake or not, struck the right note. Just over a month ago, Beijing proposed a “three red lines” approach for major developers. Those exceeding all three leverage metrics monitored by regulators are forbidden from borrowing more. Evergrande has solidly crossed that threshold. 

In that “fabricated”

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