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Hong Kong's Tycoons Are Damaging the City's Credit Culture

Hong Kong's Tycoons Are Damaging the City's Credit Culture

Bloomberg08-07-2025
How creditworthy are Hong Kong's billionaire tycoons? Despite the glamor and prestige they project, the city's old money are dishing out one nasty surprise after another. As bankers and investors wake up to the reality that they might never be made whole, the easy credit culture long afforded to the elite will inevitably come to an end.
New World Development Co.'s decision not to repay coupons on its perpetual notes was a rude awakening, but it was by no means an outlier. Emperor International Holdings Ltd., a fellow developer that sells luxury apartments, said it had HK$16.6 billion ($2.1 billion) in bank borrowings that are either overdue or have breached loan covenants, which may result in immediate repayment requests.
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Trump's Japan 'investment vehicle' could become trade talk template — even if nobody is sure what it is
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Trump's Japan 'investment vehicle' could become trade talk template — even if nobody is sure what it is

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In his 20s, the boss of this 4,100-employee Fortune 500 company tried to refuse a promotion to CEO—his advice to new grads is stay ‘humble'
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Trump Tariffs Leave Costly China Supply Question Unanswered

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Trump Tariffs Leave Costly China Supply Question Unanswered

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