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☆ Olive Garden's owner says lower-income customers are cutting back while richer diners are eating out more
▼ + stars: | 2024-03-22 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Darden says lower-income diners are cutting back on its brands while high earners are visiting more. Darden, which owns Olive Garden and LongHorn Steakhouse, said its customer base was reverting to its pre-pandemic makeup. Cardenas had told investors in December that lower-income diners had been "splurging" in the fine-dining sector in recent years but that their orders were getting back to a more normal level. "It doesn't mean that we won't have price points on things over time, but that's kind of more of our everyday low price or around that price," Cardenas said. Darden's second-biggest brand, LongHorn Steakhouse, which has about 570 restaurants, saw a 2.3% jump in same-restaurant sales.

Persons: Darden, —, Chris Steak, Rick Cardenas, Cardenas, Raj Vennam, — Vennam, Chris, Olive Garden's, Darden's, Vennam Organizations: Darden, Olive Garden, LongHorn, Service, Olive Locations: Olive, Texas, California, —

☆ I ordered the same meal at Maggiano's and Olive Garden. The smaller chain's portion sizes blew me away.
▼ + stars: | 2024-03-03 | by ( Jena Brown | ) www.businessinsider.com time to read: +1 min

I ordered the same meal at Olive Garden and Maggiano's to see which chain had the tastiest food. Olive Garden's spinach-artichoke dip, which came with pita chips, was one of my favorite dishes. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . I'd never been to Maggiano's Little Italy and wanted to see how the restaurant's food compared to Olive Garden's. I went to both chain's Las Vegas locations and ordered bread, an appetizer, a pasta dish, and a dessert.

Persons: Garden's, pita, —, I'm, I'd, Olive Garden's Organizations: Service, Little Locations: Olive, Little Italy, Vegas

☆ China puts Country Garden on draft list of builders to support -Bloomberg News
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +3 min

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsNov 22 (Reuters) - China has placed debt-laden Country Garden Holdings Co (2007.HK) on a draft list of 50 developers eligible for a range of financing support, Bloomberg reported on Wednesday, citing people familiar with the matter. Country Garden declined to comment. Once China's biggest private property developer, Country Garden missed a coupon payment in October, triggering default terms. It is unclear what specific measures will be taken to support the developers on the draft list.

Persons: Aly, CIFI, Bloomberg, Ting Meng, Nomura, Devika Nair, Xie Yu, Kim Coghill, Clarence Fernandez Organizations: Shanghai Country Garden, REUTERS, Garden Holdings, HK, Bloomberg, Ocean Group, CIFI Holdings, Reuters, Wednesday, Regulators, Country, ANZ Bank China, Thomson Locations: Shanghai, China, Beijing, Bengaluru, Hong Kong

[1/3] The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. Beijing needs to pull "multiple levers" at the same time to address the "vulnerabilities" in the financial system, local government financing, as well as consumer sentiment, said Edward Al-Hussainy, head of emerging market fixed income research at Columbia Threadneedle, which owns Country Garden bonds. China property sector slumpShoring up confidence is the biggest challenge facing Beijing and is key to getting homebuyers spending again, which analysts says isn't likely to happen soon given an uncertain economic outlook. Reuters reported last week that Chinese authorities have asked domestic financial behemoth Ping An Insurance Group to take a controlling stake in Country Garden. "You need to fix the macro environment first; if you don't earn enough how do you buy a property?," said Xu, whose firm holds China property dollar bonds.

Persons: Aly, Edward Al, isn't, Morgan Stanley, Ping, Ping An, Elliot Hentov, Steven Xu, Xu, Raymond Cheng, Goldman Sachs, Clare Jim, Davide Barbuscia, Karin Strohecker, Summer Zhen, Rae Wee, Sumeet Chatterjee Organizations: Shanghai Country Garden, REUTERS, HONG KONG, Columbia, Reuters, HK, Economic Work Conference, Reuters Graphics, HIT, Insurance Group, State Street Global Advisors, Country, Harmonia, Bloomberg, China, CIBM Securities, Thomson Locations: Shanghai, China, HONG, Beijing, outflows, Hong Kong, New York, London, Singapore

☆ Exclusive: Country Garden aims to have offshore debt restructuring plan by year end
▼ + stars: | 2023-11-10 | by ( Xie Yu | ) www.reuters.com time to read: +4 min

The company logo of Chinese developer Country Garden is displayed at a news conference in Hong Kong, China March 20, 2018. Country Garden, which has almost $11 billion of offshore bonds, declined to comment. The timeline for the company's debt restructuring plan has not been reported before. CreditSights said in a Nov. 2 research note that Country Garden had "formally defaulted" on its offshore bonds due to the missed payment. Sunac China Holdings Ltd (1918.HK) in October became the first to complete the debt revamp scheme for its $9 billion offshore debt after winning approval from creditors and courts.

Persons: Bobby Yip, Ping, CreditSights, CICC, Houlihan Lokey, Sidley Austin, Houlihan, China Evergrande, Hui Ka Yan, Xie Yu, Clare Jim, Sumeet Chatterjee, Edwina Gibbs Organizations: REUTERS, Reuters, Insurance Group, Ping An, Sunac China Holdings Ltd, HK, Thomson Locations: Hong Kong, China, HONG KONG, HK, Beijing

☆ Long before rescue talks, Country Garden struggled to build homes, pay bills
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +6 min

[1/3] The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. "Nobody believed that Country Garden would fail. Country Garden declined to comment. In July, only weeks before it skipped debt payments, Country Garden launched a campaign on its WeChat channel titled “Beautiful Delivery”, showcasing newly built apartments and happy homeowners. Country Garden did not respond to questions about the payment or delivery disputes.

Persons: Aly, Ping, COVID, Economist Intelligence Unit's Xu Tianchen, EIU’s Xu, it’s, ”, Qiao Jingjing, Qiao, Clare Jim, Liangping Gao, Amy Lv, Laurie Chen, Antoni Slodkowski Organizations: Shanghai Country Garden, REUTERS, Rights, China's, Garden, Ping An, Economist Intelligence, Reuters, Observers, Jujiang, Thomson Locations: Shanghai, China, Rights BEIJING, HONG KONG, Beijing, Chongqing, Xinzheng, Henan Province, Lincoln

☆ Ping An loses $2.1 billion in market value, China property rallies on Country Garden rescue report
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +2 min

Company logo of Ping An Insurance Group is shown at a news conference following the company's announcement of its annual results in Hong Kong, China March 16, 2016. Ping An's Hong Kong-listed shares tumbled 5.4%, their sharpest daily fall in more than a year, wiping out almost $2.1 billion in market capitalisation. "Such a move should mitigate or control the risks in the market," said Lu Wenxi, analyst at property agency Centaline. "This move is a big boost to market confidence, because now the whole real estate market, especially some major real estate enterprises are under pretty big pressure, and their bankruptcy risks triggering a chain reaction." Reporting by Anne Marie Roantree in Hong Kong.

Persons: Bobby Yip, Ping, Lu Wenxi, Anne Marie Roantree, Tom Westbrook, Edmund Klamann, Kim Coghill Organizations: Ping An Insurance, REUTERS, Ping, Ping An Insurance Group, Reuters, HK, Ping An, China, Sunac China Holdings, Wanda, Thomson Locations: Hong Kong, China, HONG KONG, Singapore

☆ Reaction to Reuters report on potential Ping An rescue of Country Garden
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +4 min

EUGENE LAW, DIRECTOR OF CHINA GALAXY INTERNATIONAL:"If the central government steps in to help Country Garden, it's for easing the debt crisis and preventing a spillover to financial institutions. But it will not help the China property market, which depends on factors, including employment and consumer confidence. Homebuyers would not rush to buy property just because Country Garden gets out of trouble. For the broader property market, the key is still home sales." Country Garden may have reached a tipping point where it will need more liquidity to fulfill such a policy goal.

Persons: Tyrone Siu, Ping, EUGENE LAW, Homebuyers, MICHAEL WONG, XU TIANCHEN, YAO, homebuyers, GARY NG, Clare Jim, Anne Marie Roantree, Edwina Gibbs, Kim Coghill Organizations: Ping An Insurance, REUTERS, Ping An Insurance Group, HK, Reuters, LU, OF CHINA GALAXY, Garden, Central Financial Work Conference, Thomson Locations: Shenzhen, China, HONG KONG

☆ China property rescue? Who are Ping An Insurance Group and Country Garden?
▼ + stars: | 2023-11-08 | by ( Julie Zhu | ) www.reuters.com time to read: +5 min

Ping An, based in the southern tech hub of Shenzhen, vies with China Life (601628.SS) for the title of the country's biggest insurance group by market value. Country Garden has said repeatedly that "home delivery" is its top priority. WHY HAS BEIJING PICKED PING AN TO RESCUE COUNTRY GARDEN? Ping An was a natural choice because it is based in Guangdong and has been a major Country Garden shareholder, said the sources. Ping An said after the Reuters report that it no longer holds Country Garden shares.

Persons: Ping, Ma Mingzhe, Morgan Stanley, Goldman Sachs, Yang Huiyan, Alex Ren, Julie Zhu, Kim Coghill Organizations: Ping An Insurance Group, HK, Reuters, WHO, China, Lufax, Ping An Healthcare, Technology, HSBC, Shenzhen Investment Holdings Co, Central Huijin Investment, Charoen Pokphand, CP, China Evergrande, Evergrande, Regulators, BEIJING, Authorities, Garden, Thomson Locations: HONG KONG, China, Shenzhen, vies, New York, Hong Kong, Shanghai, Guangdong

☆ Exclusive: China authorities ask Ping An to take controlling stake in Country Garden, sources say
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +6 min

Ping An has "not been asked by (the) Government to takeover Country Garden. Country Garden declined to comment. Country Garden shares were up 4% in afternoon trade. The insurer had as of Aug. 11 a 4.99% stake in Country Garden, according to Hong Kong stock exchange data. Country Garden had total liabilities of 1.4 trillion yuan ($190 billion) at the end of June.

Persons: Damir Sagolj, Ping, Li Qiang, Ping An, Ma Mingzhe, Ma, Peter, Yang Huiyan, Yang, Anne Marie Roantree, Antoni Slodkowski, Don Durfee, Edwina Gibbs Organizations: Ping An Insurance, Global Mobile Internet Conference, National Convention Center, REUTERS, Ping An Insurance Group, HK, Council, Ping An, Reuters, Government, China, Information, Country Garden, People's Bank of China, Financial Regulatory Administration, Shenzhen Metro, Peking University Founder, Thomson Locations: Beijing, China, China's, Guangdong province, Guangdong, Hong Kong, GUANGDONG, Shenzhen, Ping An

☆ Country Garden default on dollar bond declared for first time -Bloomberg News
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: 1 min

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsOct 25 (Reuters) - Chinese developer Country Garden Holdings (2007.HK) has been deemed in default on a U.S. dollar bond for the first time, Bloomberg News reported on Wednesday, citing a notice. Country Garden's failure to pay interest on the note within a grace period that ended last week "constitutes an event of default", Bloomberg reported citing the notice to holders from a trustee. Reporting by Gursimran Kaur in Bengaluru; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Gursimran Kaur, Christopher Cushing Organizations: Shanghai Country Garden, REUTERS, Country Garden Holdings, HK, U.S, Bloomberg, Thomson Locations: Shanghai, China, Bengaluru

☆ Knicks sign jersey patch deal with owner James Dolan's Sphere Entertainment
▼ + stars: | 2023-10-24 | by ( Jessica Golden | ) www.cnbc.com time to read: +3 min

The National Basketball Association's New York Knicks are keeping it in the family for their next jersey patch sponsor. Madison Square Garden Sports announced Tuesday that Sphere Entertainment will become the NBA team's official jersey patch partner for the 2023-24 season. Terms of the jersey patch deal were not disclosed. The NBA's jersey patch sponsor program kicked off during the 2017-18 season and has been an important source of revenue for many clubs. Dolan reportedly was shopping around the jersey patch rights for $30 million, according to SBJ.

Persons: James Dolan, David Hopkinson, Micky Arison, Squarespace, Andrew Lustgarten, Dolan, SBJ, Patrick Rishe, Louis, Bob Dorfman Organizations: Association's New York Knicks, Madison, Garden Sports, NBA, Knicks, Boston Celtics, Garden, MSG Sports, Golden State Warriors, Brooklyn Nets, Los Angeles Lakers, Miami Heat, Carnival Cruise, Sports Business, Washington University, Pinnacle Advertising, CNBC Locations: Madison, Las Vegas, St

☆ Take Five: Another curve ball for markets
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +5 min

The European Central Bank looks set to sit tight after a string of interest rate hikes, while there's a slew of U.S. earnings and Argentina's presidential election. ECB chief economist Philip Lane says the central bank was still "quite some distance" from easing monetary policy. Canada's central bank, meeting on Wednesday, is tipped to leave rates steady as inflation eases. 2 economy, property turmoil threatens China's 5% growth target - even after a consensus-smashing 4.9% quarterly expansion. Milei, surprise victor in the August primary election, has pledged to dollarise the economy and get rid of the central bank.

Persons: Brendan McDermid, Amanda Cooper, Naomi Rovnick, Kevin Buckland, Lewis Krauskopf, Rodrigo Campos, Philip Lane, hasn't, Javier Milei, Sergio Massa, Patricia Bullrich, Vineet Sachdev, Sumanta Sen, Dhara Ranasinghe, Simon Cameron, Moore Organizations: New York Stock Exchange, REUTERS, European Central Bank, Hamas, ECB, Reuters Graphics Reuters, Microsoft, Apple, Nvidia, Tesla, General Motors, Merck, United Parcel Service, Investors, International Monetary, Massa, Thomson Locations: New York City, U.S, London, Tokyo, New York, Israel, Palestinian, Russia, Ukraine, China, Beijing, ARGENTINA, Argentina, Pasir Kongkunakornkul

☆ China's troubled property sector to face more debt defaults
▼ + stars: | 2023-10-20 | by ( Xie Yu | ) www.reuters.com time to read: +3 min

HONG KONG, Oct 20 (Reuters) - More debt defaults are likely to emerge in China's property sector as troubled developers struggle with a weak home sales outlook, while fund raising remains challenging, according to credit analysts. Counting October, there is a total of $60.5 billion worth of Chinese property bonds due in the next 6 months, with offshore bonds taking up at least one third of it, according to Dealogic data. The company said it was also prepared to formulate a reasonable debt repayment plan if it fails to repay bonds as they are due. Ricky Tsang, an analyst with S&P Global Ratings, said apart from the weak cash flow from home sales, fund raising for developers, particularly the private ones, remains tight. Reporting by Xie Yu in Hong Kong, Editing by Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

Persons: Ting Meng, Ricky Tsang, Tsang, Xie Yu, Raju Gopalakrishnan Organizations: HK, Ocean Group, Hong Kong Exchange, Dalian Wanda Group, Bloomberg, ANZ Bank China, Developers, Thomson Locations: HONG KONG, China, State, HK, Hong Kong

[1/5] A view of the residential apartments in Country Garden's Forest City development in Johor Bahru, Malaysia August 16, 2023. The group hired PJT Partners (PJT.N) as financial adviser to lead discussions with Country Garden, two people with knowledge of the matter said. Ratings agency Moody's said on Thursday it could downgrade Country Garden's (2007.HK) 'corporate family rating' if the recovery prospects for its creditors weaken further. Moody's said Country Garden's senior unsecured rating of C was already at the lowest of its rating scale. Country Garden and Frasers did not immediately respond for a request for comment on that sale.

Persons: Edgar Su, PJT, Moody's, Frasers, Houlihan Lokey, Sidley Austin, Yeung Kwok Keung, Yang Huiyan, Yeung, Yang, Cao Jianglin, Garden's, China Evergrande, Scott Murdoch, Xie Yu, Clare Jim, Anousha Sakoui, Liz Lee, Lewis Jackson, Kim Coghill, Christopher Cushing, Jamie Freed, Lincoln, Miral Fahmy, Jane Merriman Organizations: REUTERS, HK, PJT Partners, Garden's, Australian Financial, Reuters, China International Capital Corporation, Finance, HSBC, China National Agricultural Development, SOE, Thomson Locations: Garden's, City, Johor Bahru, Malaysia, China HONG KONG, Garden's Australian, Melbourne, China, Shunde, Guangdong province, Sydney, Hong Kong, London, Beijing, Sydndey

☆ Country Garden says founder, board chairperson at work, haven't left China
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Oct 19 (Reuters) - Country Garden's founder and chairperson of the board are at work as usual, the debt-laden Chinese property developer said on social media on Thursday, denying online reports of the pair leaving the country. Founder Yeung Kwok Keung quit Country Garden's board in March and daughter Yang Huiyan became chairperson. Country Garden on Wednesday was due to pay a $15 million coupon payment on a bond due September 2025, but two bondholders told Reuters they were yet to receive it. On Wednesday, it said it was unlikely to be able to meet most of its upcoming offshore debt payments. Country Garden has almost $11 billion of offshore bonds outstanding.

Persons: Yeung Kwok Keung, Yang Huiyan, Yeung, Liz Lee, Scott Murdoch, Kim Coghill, Christopher Cushing Organizations: Reuters, Thomson Locations: BEIJING, Shanghai

[1/2] A worker looks on at a construction site of residential buildings by Chinese developer Country Garden, in Beijing, China August 11, 2023. Non-payment would trigger cross defaults in other Country Garden bonds as is standard in bond contracts. Country Garden reiterated on Wednesday that it expects to be unable to meet all of its offshore debt obligations and hopes to seek a "holistic" solution to its difficulties. Shares in Country Garden have lost some 70% of their value this year but gained some ground on Wednesday, rising 2.7%. "I think Country Garden offshore US dollar bond pricing speaks for itself as to the current expectations," said Real Estate Foresight co-founder Robert Ciemniak who publishes on Smartkarma.

Persons: Tingshu Wang, Cedric Rimaud, Garden's, China Evergrande, Robert Ciemniak, Clare Jim, Xie Yu, Scott Murdoch, Anne Marie Roantree, Edwina Gibbs Organizations: REUTERS, HK, Foresight, Data, JPMorgan, Mainland Properties, Thomson Locations: Beijing, China, HONG KONG, U.S, Hang, Hong Kong

[1/2] A worker looks on at a construction site of residential buildings by Chinese developer Country Garden, in Beijing, China August 11, 2023. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsHONG KONG, Oct 18 (Reuters) - The grace period for Chinese property developer Country Garden Holding's (2007.HK) $15 million coupon payment has expired with no word that the money has been paid. Country Garden did not immediately respond to a request for comment. Country Garden has also missed other offshore payments in the past few weeks, though those payments still have not seen their 30-day grace periods lapse. A default would open the way for Country Garden's offshore creditors to begin negotiations with the firm's financial advisors.

Persons: Tingshu Wang, Clare Jim, Scott Murdoch, Xie Yu, Sonali Paul, Edwina Gibbs Organizations: REUTERS, HK, Data, JPMorgan, Mainland Properties, Thomson Locations: Beijing, China, HONG KONG, China's, Hang, Hong Kong, Sydney

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. The company last week warned of its inability to meet offshore debt obligations. Country Garden did not immediately respond to a request for comment from Reuters on Wednesday. With nearly $11 billion of offshore bonds and $6 billion of onshore loans, a default by Country Garden would set the stage for one of China's biggest corporate debt restructurings. Country Garden has also missed other offshore payments in the past few weeks, though those payments still have not seen their 30-day grace periods lapse.

Persons: Aly, Scott Murdoch, Sonali Paul Organizations: Shanghai Country Garden, REUTERS, Rights, Garden Holdings, HK, Reuters, Thomson Locations: Shanghai, China, New York, China's, Sydney

☆ Reality check, as Country Garden sells down a barely started Australia project
▼ + stars: | 2023-10-18 | by ( Byron Kaye | ) www.reuters.com time to read: +5 min

That has left Country Garden, once China's biggest private developer, which on Wednesday reiterated it was unlikely to meet all of its offshore debt repayments amid liquidity problems, trying to sell a project that is barely started and mired in uncertainty. Unlike Country Garden's other global projects, its financial exposure in Australia is mostly land purchase price and costs associated with subdivision. Country Garden Australia CEO Guotao Hu said in a statement the company's Australian assets "continue to perform well, in line with normal market behaviour and as planned". Country Garden did not disclose a purchase price when it announced the subdivision project in 2019, with a declaration at the time that "Risland is with the Wilton community for the long term". The Chinese firm has not said how much it hopes to make by selling most of the project.

Persons: Sebastian Pfautsch, Wilton, Suzy Brandstater, it'll, it's, Guotao Hu, Byron Kaye, Jamie Freed Organizations: HK, Wilton Greens, University of Western, Garden, Thomson Locations: Sydney, WILTON, Australia, Malaysia, Forest, Sydney's outskirts, Wilton, University of Western Sydney

REUTERS/Kai Pfaffenbach/File Photo Acquire Licensing RightsHONG KONG/LONDON, Oct 17 (Reuters) - Bond yields rose on Tuesday and stocks steadied as markets continued to retrace last week's moves to safe-haven assets, focusing on corporate earnings prospects and the resilience of the U.S. economy rather than tensions in the Middle East. Benchmark 10-year bond yields in the U.S. and Germany (Bunds) rose around 5 basis points (bps) on Tuesday having risen 5-8 bps Monday - bond yields move inversely to prices. Israel's shekel remained on the weak side of the 4 per dollar level it softened to for the first time since 2015 on Monday. Russian President Vladimir Putin on Tuesday arrived in Beijing to meet Chinese President Xi Jinping even as the war in Ukraine raged on. If investors do not receive the coupon payment, all of Country Garden's offshore debts will be deemed in default.

Persons: DAX, Kai Pfaffenbach, Banks, BNY, Goldman Sachs, We're, Jorge Garayo, Joe Biden, Israel, Israel's shekel, Vladimir Putin, Xi Jinping, BoE, Gold, Brent, Selena Li, Alun John, Shri Navaratnam, Ed Osmond, Alex Richardson Organizations: Deutsche, REUTERS, Bank of America, Treasury, Bund, Societe Generale, U.S, Israel, Hamas, Iran's, Tuesday, HK, Bank of England, Swiss, Venezuela, Thomson Locations: Frankfurt, Germany, HONG KONG, U.S, Iran, Gaza, Beijing, Ukraine, Friday's, Washington, Israel, Hong Kong, London

☆ Explainer: Country Garden: What happens next?
▼ + stars: | 2023-10-17 | by ( Clare Jim | ) www.reuters.com time to read: +5 min

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. A non-payment is expected after Country Garden last week warned about its inability to meet offshore debt obligations. Country Garden has appointed Houlihan Lokey, China International Capital Corporation (CICC) and law firm Sidley Austin as advisers to carry out an offshore debt restructuring. Until this year, Country Garden was the largest Chinese developer by sales. Country Garden has said repeatedly that "home delivery" is its top priority.

Persons: Aly, Houlihan Lokey, Sidley Austin, Evergrande, Clare Jim, Anne Marie Roantree, Sonali Paul Organizations: Shanghai Country Garden, REUTERS, HK, China International Capital Corporation, WHO, China Evergrande, Evergrande, Regulators, Beijing, Thomson Locations: Shanghai, China, HONG KONG, Beijing

☆ Asia stocks rise on earnings hopes; keep wary eye on Mideast tensions
▼ + stars: | 2023-10-17 | by ( Selena Li | ) www.reuters.com time to read: +3 min

A man looks at an electric board displaying the Nikkei stock average outside a brokerage in Tokyo, Japan June 14, 2023. Overnight the S&P 500 (.SPX) had climbed 1%, while oil prices and the U.S. dollar had fallen. Benchmark 10-year Treasury yields are about 15 basis points off 16-year highs, though they crept higher in Asia trade Tuesday to 4.7331%. The euro traded at $1.0549 and the yen hovered just short of the 150-per-dollar mark at 149.53. If investors don't receive the coupon payment, all of Country Garden's offshore debts will be deemed in default.

Persons: Kim Kyung, Kerry Craig, Goldman Sachs, Morgan Stanley, Johnson, Craig, Joe Biden, Israel, Israel's shekel, Bitcoin, Selena Li, Shri Navaratnam Organizations: Nikkei, REUTERS, Tokyo's Nikkei, U.S ., Morgan Asset Management, Bank of America, Johnson, Netflix, Federal Reserve, Israel, Hamas, Iran's, HK, Brent, BlackRock, Thomson Locations: Tokyo, Japan, HONG KONG, U.S, Asia, Pacific, Gaza, Iran, Zealand, Brent

☆ Ed Garden says he wants to innovate in 'crowded' and 'commoditized' activist investing field
▼ + stars: | 2023-10-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEd Garden says he wants to innovate in 'crowded' and 'commoditized' activist investing fieldEd Garden, former Trian Fund founding partner and CIO, joins 'Squawk on the Street' to discuss why Garden left the Trian Fund, Garden's plan with Garden Investments, and how the new firm will innovate.

Persons: Ed Garden, Garden Organizations: Fund, Trian, Garden Investments

☆ Morning Bid: Banks, Biden visit buoy markets
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. Biden leaves later on Tuesday for a high stakes visit to Israel and Jordan and Washington said Israeli Prime Minister Benjamin Netanyahu had agreed to let humanitarian aid reach besieged Gazans. That reversed a pre-weekend 'safety bid' that emerged amid fears an Israeli ground invasion into Gaza could draw other regional countries and groups into the war. Before then, bond markets will have to negotiate tomorrow's 20-year Treasury auction. The relatively new 20-year tenor has often proved unpopular and will be watched closely after a poor reception for the latest 30-year bond last week.

Persons: Brendan McDermid, Mike Dolan, Joe Biden's, Biden, Washington, Benjamin Netanyahu, Wells, Goldman Sachs, Charles Schwab, Jerome Powell's, Vladimir Putin, Xi Jinping, Lockheed Martin, Johnson, JB Hunt, Michelle Bowman, John Williams, Neel Kashkari, Tom Barkin, Luis de Guindos, Joe Biden, Olaf Scholz Organizations: New York Stock Exchange, REUTERS, Treasury, JPMorgan, Citigroup, Bank of America, Bank of New York Mellon, Federal Reserve, HK, Bank of England, Lockheed, United Airlines, Michelle Bowman , New York Fed, Minneapolis Fed, Richmond Fed, European Central Bank, European Union, Luxembourg Retail, Reuters Graphics Reuters, EIA, Thomson Locations: New York City, U.S, Israel, Gaza, Jordan, Israeli, Gazans, Asia, Europe, Wells Fargo, China, Russian, Beijing, Ukraine, United, Canada, Michelle Bowman , New, Frankfurt, Luxembourg, Venezuela

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