The largest retailer of Rolex watches in the United Kingdom lost nearly a third of its value on Friday after the Swiss brand acquired Bucherer AG, making its first major retailing move. Watches of Switzerland Group Plc shares fell as much as 30%, wiping out a market capitalization of nearly £500 million ($629 million). Late […]
Global investors have been shedding China’s blue-chip stocks in a record-selling streak, showing that even the nation’s industry leaders are falling out of favor as a rout deepens. Foreign investors sold 6.2 billion yuan ($851 million) in Kweichow Moutai Co. between August 7 and August 18, making China’s largest liquor maker the most heavily traded […]
Thursday in New York, China’s Evergrande Group, once the country’s second-largest property developer, filed for bankruptcy. The troubled company borrowed extensively and defaulted on its debt in 2021, triggering an immense property crisis in China’s economy, which is still being felt. Evergrande filed for Chapter 15 protection from bankruptcy, which authorizes a US bankruptcy court […]
