News analysis The assets of bankrupt HNA Group are being sold off by creditors, including the luxury villa in Hong Kong’s most affluent residential location at Twelve Peak that belonged to Chen Feng, the group’s co-founder and chairman. According to the Hong Kong Land Registry, house 6 developed by Twelve Peaks was taken over on Oct….
HNA-related Luxury Villa in Hong Kong Being Sold to Offset Debts Through Court Auction
Evergrande Sags Under Massive Financial Liabilities, Its Future Uncertain
As Evergrande and its Chairman Xu Jiayin’s fate is sagging under millions of liabilities, on September 24, another private enterprise giant HNA (HNA Group Co., Ltd.)—being under bankruptcy reorganization—through its official WeChat announced that its chairman and the chief executive officer had been arrested. The news was also confirmed on the same day by Gu Gang,…
Troubled Chinese Airline Group Proposes Paying 40 Percent of Debts
BEIJING—HNA Group, a Chinese airline operator that ran into financial trouble after a global acquisition spree, has proposed a plan to settle $61 billion in debts owed to thousands of creditors by paying 40 percent of the total. The conglomerate warned in a statement Tuesday that it faces possible liquidation due to “mismanagement and investment…
Evergrande Misses Payment Deadline, EV Unit Warns of Cash Crunch
SINGAPORE/SHANGHAI—China Evergrande’s electric car unit warned on Friday it faced an uncertain future unless it got a swift injection of cash, the clearest sign yet that the property developer’s liquidity crisis is worsening in other parts of its business. Evergrande owes $305 billion, has run short of cash and investors are worried a collapse could…
Chinese Police Take Away HNA Chairman, CEO on Suspicion of Crimes
SHANGHAI—China’s HNA Group, once one of the country’s most acquisitive conglomerates, said on Friday that its chairman and its chief executive had been taken away by police due to suspected criminal offenses. The company, which was placed in bankruptcy administration in February, said in a statement on its official WeChat account it had been notified…
US News
- Epoch VideoSenate Majority Leader Chuck Schumer (D-N.Y.) holds a press conference at 10:45 a.m. ET on Feb. 7. The Epoch Times will livestream the event. [...]
- Matthew VadumThe Thirteenth Amendment, which abolished slavery, may protect abortion as a federal right, a federal judge said on Feb. 6 in an ongoing prosecution of pro-life activists charged with conspiracy… [...]
- Jack PhillipsA study published this week found that regular vitamin D supplementation may lower the risk of Type 2 diabetes among millions of adults who have prediabetes. A team of researchers… [...]
- The Associated PressSEATTLE—Boeing plans to make staffing cuts in the aerospace company’s finance and human resources departments in 2023, with a loss of around 2,000 jobs, the company said. “We expect about… [...]
- Beth BreljeNaval Lieutenant Levi Beaird, a Texan from Fort Worth, was surprised to learn that Sen. Ted Cruz (R-Texas) invited him to attend the State of the Union address. Beaird hopes his… [...]
- Epoch VideoThe House Oversight and Accountability Committee holds a hearing at 10:00 a.m. ET on Feb. 7, “On The Front Lines of the Border Crisis,” with testimony from Customs and Border… [...]
- Frank Fang, Eva FuPentagon’s own admission on Feb. 6 of an “awareness gap” regarding previous Chinese balloon incursions in U.S. airspace has drawn concerns from Republican lawmakers. “If the CCP [Chinese Communist Party]… [...]
LIVE NOW: House Armed Services Committee Holds Hearing on Pressing Threat of Chinese Communist Party- Epoch VideoU.S. House of Representatives Armed Services Committee holds a hearing at 10 a.m. ET on Feb. 7 on “The Pressing Threat of the Chinese Communist Party to U.S. National Defense.”… [...]
- Tom OzimekAmid growing bipartisan uproar over Beijing’s violation of U.S. sovereignty, a Chinese spokesperson issued a veiled threat vowing that Beijing would “resolutely safeguard its legitimate rights and interests” over the Pentagon’s… [...]
- Epoch VideoU.S. House Republican leaders hold a press conference at 10:15 a.m. ET on Feb. 7, before President Joe Biden’s State of the Union address. The Epoch Times will livestream the… [...]