Tag: Corporate Actions

China Evergrande calls off deal to sell stake in property unit falls

SINGAPORE— China Evergrande Group called off plans to sell a majority stake in its property-management unit for the equivalent of $2.6 billion, a major setback in the real-estate giant’s attempts to ease its liquidity crunch. The cash-strapped developer said Wednesday that it had planned to sell 50.1% of the profitable subsidiary, Evergrande Property Services Group Ltd.  6666, -8.01%, to […]

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‘The industry has been in denial’: As hotels recover from the pandemic, they’re planning how to compete with another threat — Airbnb

With the number of COVID-19 cases receding as vaccination drives continue and the Delta variants ebbs, the travel industry could be poised for a resurgence. Whether hotels from that boom could depend on what happens to Airbnb. During an interview with Axios, Airbnb ABNB, +1.86% CEO Brian Chesky forecast a “new golden age of travel” […]

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