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5 things to know about the Evergrande crisis: A simple breakdown

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5 things to know about the Evergrande crisis: A simple breakdown

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Dozens of investors staged a protest at the firm’s Shenzhen headquarters, calling on the company to repay its loans. CNN’s Kristie Lu Stout reports.”,”descriptionText”:”Chinese property giant Evergrande is warning that it’s struggling to pay back its $300 billion of debt. Dozens of investors staged a protest at the firm’s Shenzhen headquarters, calling on the company to repay its loans. CNN’s Kristie Lu Stout reports.”},{“title”:”50 million views later, one TikTok made this eye cream sell out”,”duration”:”02:01″,”sourceName”:”CNN Business”,”sourceLink”:”https://www.cnn.com/business”,”videoCMSUrl”:”http://rss.cnn.com/video/data/3.0/video/business/2021/09/22/peter-thomas-roth-makeup-tiktok-orig.cnn-business/index.xml”,”videoId”:”business/2021/09/22/peter-thomas-roth-makeup-tiktok-orig.cnn-business”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/210922134500-peter-thomas-roth-makeup-tiktok-orig-00004201-large-169.png”,”videoUrl”:”http://rss.cnn.com/videos/business/2021/09/22/peter-thomas-roth-makeup-tiktok-orig.cnn-business/video/playlists/business-markets-investing/”,”description”:”Peter Thomas Roth’s cosmetic products began selling out after a viral TikTok video showing someone using the product racked up nearly 50 million views. Roth tells CNN Business’s Alison Kosik how the power of social media helped drive sales.”,”descriptionText”:”Peter Thomas Roth’s cosmetic products began selling out after a viral TikTok video showing someone using the product racked up nearly 50 million views. Roth tells CNN Business’s Alison Kosik how the power of social media helped drive sales.”},{“title”:”Why global investors are focused on Evergrande”,”duration”:”03:08″,”sourceName”:”CNNBusiness”,”sourceLink”:””,”videoCMSUrl”:”http://rss.cnn.com/video/data/3.0/video/business/2021/09/21/markets-evergrande-stocks.cnnbusiness/index.xml”,”videoId”:”business/2021/09/21/markets-evergrande-stocks.cnnbusiness”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/210920201558-01-new-york-stock-exchange-0920-restricted-large-169.jpg”,”videoUrl”:”http://rss.cnn.com/videos/business/2021/09/21/markets-evergrande-stocks.cnnbusiness/video/playlists/business-markets-investing/”,”description”:”Concerns about potential contagion from Chinese real estate giant Evergrande’s debt crisis is shaking markets. CNN’s Clare Sebastian reports. “,”descriptionText”:”Concerns about potential contagion from Chinese real estate giant Evergrande’s debt crisis is shaking markets. CNN’s Clare Sebastian reports. “},{“title”:”Petco CEO explains how 11 million new pets in 2020 boosted the business”,”duration”:”01:08″,”sourceName”:”CNN Business”,”sourceLink”:””,”videoCMSUrl”:”http://rss.cnn.com/video/data/3.0/video/business/2021/09/15/markets-now-petco-pet-boom.cnn-business/index.xml”,”videoId”:”business/2021/09/15/markets-now-petco-pet-boom.cnn-business”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/210915132839-petco-ceo-markets-now-large-169.jpg”,”videoUrl”:”http://rss.cnn.com/videos/business/2021/09/15/markets-now-petco-pet-boom.cnn-business/video/playlists/business-markets-investing/”,”description”:”Petco CEO Ron Coughlin talks to CNN’s Alison Kosik about Petco’s success during the pandemic, bolstered by new pet ownership numbers and its e-commerce push.”,”descriptionText”:”Petco CEO Ron Coughlin talks to CNN’s Alison Kosik about Petco’s success during the pandemic, bolstered by new pet ownership numbers and its e-commerce push.”},{“title”:”Cathie Wood’s Ark Invest cuts exposure to China”,”duration”:”02:03″,”sourceName”:”CNNBusiness”,”sourceLink”:””,”videoCMSUrl”:”http://rss.cnn.com/video/data/3.0/video/business/2021/09/09/cathie-wood-ark-invest-china.cnnbusiness/index.xml”,”videoId”:”business/2021/09/09/cathie-wood-ark-invest-china.cnnbusiness”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/210909095249-cathie-wood-large-169.jpg”,”videoUrl”:”http://rss.cnn.com/videos/business/2021/09/09/cathie-wood-ark-invest-china.cnnbusiness/video/playlists/business-markets-investing/”,”description”:”The fund’s move is in response to Beijing’s sweeping regulatory changes, according to a Financial Times report. CNN’s Clare Sebastian reports.”,”descriptionText”:”The fund’s move is in response to Beijing’s sweeping regulatory changes, according to a Financial Times report. CNN’s Clare Sebastian reports.”},{“title”:”Investing in art? This company sells shares of high-value paintings”,”duration”:”01:27″,”sourceName”:”CNN Business”,”sourceLink”:””,”videoCMSUrl”:”http://rss.cnn.com/video/data/3.0/video/business/2021/09/08/markets-now-masterworks-scott-lynn.cnn-business/index.xml”,”videoId”:”business/2021/09/08/markets-now-masterworks-scott-lynn.cnn-business”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/210908132427-masterworks-markets-now-scott-lynn-large-169.jpg”,”videoUrl”:”http://rss.cnn.com/videos/business/2021/09/08/markets-now-masterworks-scott-lynn.cnn-business/video/playlists/business-markets-investing/”,”description”:”Scott Lynn, Founder of Masterworks, explains how his company creates a market for selling and trading shares of million-dollar paintings.”,”descriptionText”:”Scott Lynn, Founder of Masterworks, explains how his company creates a market for selling and trading shares of million-dollar paintings.”},{“title”:”Cameron Diaz explains why she started a ‘clean’ wine company”,”duration”:”02:48″,”sourceName”:”CNN Business”,”sourceLink”:”https://www.cnn.com/business”,”videoCMSUrl”:”http://rss.cnn.com/video/data/3.0/video/business/2021/09/01/cameron-diaz-avaline-wine-company-orig.cnn-business/index.xml”,”videoId”:”business/2021/09/01/cameron-diaz-avaline-wine-company-orig.cnn-business”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/210901135154-avaline-wine-co-founders-large-169.jpg”,”videoUrl”:”http://rss.cnn.com/videos/business/2021/09/01/cameron-diaz-avaline-wine-company-orig.cnn-business/video/playlists/business-markets-investing/”,”description”:”Cameron Diaz and co-founder Katherine Power started a new wine venture, Avaline, that boasts transparency around its ingredients. Here’s why the two co-founders are betting big on ‘clean’ wine.”,”descriptionText”:”Cameron Diaz and co-founder Katherine Power started a new wine venture, Avaline, that boasts transparency around its ingredients. Here’s why the two co-founders are betting big on ‘clean’ wine.”},{“title”:”Economist: Consumers are recoiling from higher prices”,”duration”:”01:52″,”sourceName”:”CNN Business”,”sourceLink”:””,”videoCMSUrl”:”http://rss.cnn.com/video/data/3.0/video/business/2021/08/25/markets-now-diane-swonk-higher-prices-self-correcting.cnn-business/index.xml”,”videoId”:”business/2021/08/25/markets-now-diane-swonk-higher-prices-self-correcting.cnn-business”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/210825134954-markets-now-diane-swonk-082521-large-169.jpg”,”videoUrl”:”http://rss.cnn.com/videos/business/2021/08/25/markets-now-diane-swonk-higher-prices-self-correcting.cnn-business/video/playlists/business-markets-investing/”,”description”:”Diane Swonk, Chief Economist at Grant Thornton, shares her view on how consumers are self-correcting as a result of higher prices in the housing and automobile markets.”,”descriptionText”:”Diane Swonk, Chief Economist at Grant Thornton, shares her view on how consumers are self-correcting as a result of higher prices in the housing and automobile markets.”},{“title”:”Economist: ‘No recession in sight,’ but pullback is coming”,”duration”:”03:03″,”sourceName”:”CNN Business”,”sourceLink”:”http://www.cnn.com/business/”,”videoCMSUrl”:”http://rss.cnn.com/video/data/3.0/video/business/2021/08/18/lakshman-achuthan-economy-recovery-markets-now.cnn-business/index.xml”,”videoId”:”business/2021/08/18/lakshman-achuthan-economy-recovery-markets-now.cnn-business”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/210804153047-jobs-report-preview-large-169.jpg”,”videoUrl”:”http://rss.cnn.com/videos/business/2021/08/18/lakshman-achuthan-economy-recovery-markets-now.cnn-business/video/playlists/business-markets-investing/”,”description”:”Lakshman Achuthan, co-founder of the Economic Cycle Research Institute, shares why he’s bearish on the economy continuing its breakneck recovery pace.”,”descriptionText”:”Lakshman Achuthan, co-founder of the Economic Cycle Research Institute, shares why he’s bearish on the economy continuing its breakneck recovery pace.”},{“title”:”How the Delta variant could actually help the economy”,”duration”:”01:51″,”sourceName”:”CNN Business”,”sourceLink”:””,”videoCMSUrl”:”http://rss.cnn.com/video/data/3.0/video/business/2021/08/11/goldman-sachs-joe-duran-inflation-markets-now-zw-orig.cnn-business/index.xml”,”videoId”:”business/2021/08/11/goldman-sachs-joe-duran-inflation-markets-now-zw-orig.cnn-business”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/210811135520-goldman-sachs-joe-duran-large-169.jpg”,”videoUrl”:”http://rss.cnn.com/videos/business/2021/08/11/goldman-sachs-joe-duran-inflation-markets-now-zw-orig.cnn-business/video/playlists/business-markets-investing/”,”description”:”The head of personal financial management at Goldman Sachs, Joe Duran, explains why he thinks the likelihood of a market correction is “very high” and how the Delta variant could actually help reduce inflation.”,”descriptionText”:”The head of personal financial management at Goldman Sachs, Joe Duran, explains why he thinks the likelihood of a market correction is “very high” and how the Delta variant could actually help reduce inflation.”},{“title”:”Top strategist: Investors should expect a market pullback”,”duration”:”01:28″,”sourceName”:”CNN Business”,”sourceLink”:”https://www.cnn.com/business”,”videoCMSUrl”:”http://rss.cnn.com/video/data/3.0/video/business/2021/08/04/market-pullback-volatility-omar-aguilar-orig.cnn-business/index.xml”,”videoId”:”business/2021/08/04/market-pullback-volatility-omar-aguilar-orig.cnn-business”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/210804141316-market-pullback-volatility-omar-aguilar-orig-00000209-large-169.png”,”videoUrl”:”http://rss.cnn.com/videos/business/2021/08/04/market-pullback-volatility-omar-aguilar-orig.cnn-business/video/playlists/business-markets-investing/”,”description”:”Investors should expect a market pullback and volatility according to Omar Aguilar, Chief Investment Officer at Charles Schwab. He explains to CNN Business’s Alison Kosik why that is.”,”descriptionText”:”Investors should expect a market pullback and volatility according to Omar Aguilar, Chief Investment Officer at Charles Schwab. He explains to CNN Business’s Alison Kosik why that is.”},{“title”:”Strategist on meme stocks: ‘Look at the long term'”,”duration”:”01:12″,”sourceName”:”CNN Business”,”sourceLink”:”https://www.cnn.com/business”,”videoCMSUrl”:”http://rss.cnn.com/video/data/3.0/video/business/2021/08/04/robinhood-meme-stock-surge-omar-aguilar-orig.cnn-business/index.xml”,”videoId”:”business/2021/08/04/robinhood-meme-stock-surge-omar-aguilar-orig.cnn-business”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/210804142606-omar-aguilar-markets-now-large-169.jpg”,”videoUrl”:”http://rss.cnn.com/videos/business/2021/08/04/robinhood-meme-stock-surge-omar-aguilar-orig.cnn-business/video/playlists/business-markets-investing/”,”description”:”Robinhood’s stock u003ca href=”https://www.cnn.com/2021/08/04/investing/robinhood-stock/index.html” target=”_blank”>surgedu003c/a> and halted trading leading many to think it’s the newest meme stock. Omar Aguilar, Chief Investment Officer at Charles Schwab, explains what to keep in mind when investing in meme stocks.”,”descriptionText”:”Robinhood’s stock u003ca href=”https://www.cnn.com/2021/08/04/investing/robinhood-stock/index.html” target=”_blank”>surgedu003c/a> and halted trading leading many to think it’s the newest meme stock. Omar Aguilar, Chief Investment Officer at Charles Schwab, explains what to keep in mind when investing in meme stocks.”},{“title”:”Robinhood stock gets off to rocky start”,”duration”:”01:58″,”sourceName”:”CNNBusiness”,”sourceLink”:”cnnbusiness.com”,”videoCMSUrl”:”http://rss.cnn.com/video/data/3.0/video/business/2021/07/29/robinhood-stock-value-ipo-qmb-vpx.cnnbusiness/index.xml”,”videoId”:”business/2021/07/29/robinhood-stock-value-ipo-qmb-vpx.cnnbusiness”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/210729115006-01-robinhood-ipo-0729-large-169.jpg”,”videoUrl”:”http://rss.cnn.com/videos/business/2021/07/29/robinhood-stock-value-ipo-qmb-vpx.cnnbusiness/video/playlists/business-markets-investing/”,”description”:”Robinhood is officially a public company. The controversial trading platform opened at $38 a share, matching its initial public offering price. CNN’s Clare Sebastian reports.”,”descriptionText”:”Robinhood is officially a public company. The controversial trading platform opened at $38 a share, matching its initial public offering price. CNN’s Clare Sebastian reports.”},{“title”:”Robinhood CEO: We’re relentlessly focused on the long-term”,”duration”:”03:41″,”sourceName”:”CNNBusiness”,”sourceLink”:””,”videoCMSUrl”:”http://rss.cnn.com/video/data/3.0/video/business/2021/07/29/robinhood-ceo-vlad-tenev-ipo.cnnbusiness/index.xml”,”videoId”:”business/2021/07/29/robinhood-ceo-vlad-tenev-ipo.cnnbusiness”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/210729085528-robinhood-ceo-vlad-tenev-large-169.jpg”,”videoUrl”:”http://rss.cnn.com/videos/business/2021/07/29/robinhood-ceo-vlad-tenev-ipo.cnnbusiness/video/playlists/business-markets-investing/”,”description”:”Robinhood CEO Vlad Tenev talks with CNN’s Julia Chatterley about IPO pricing, retail investors, and regulatory issues.”,”descriptionText”:”Robinhood CEO Vlad Tenev talks with CNN’s Julia Chatterley about IPO pricing, retail investors, and regulatory issues.”},{“title”:”Mattel CEO: Here’s how toy prices will change this holiday season”,”duration”:”02:23″,”sourceName”:”CNN Business”,”sourceLink”:””,”videoCMSUrl”:”http://rss.cnn.com/video/data/3.0/video/business/2021/07/28/markets-now-mattel-ceo-barbie-toy-prices-holiday.cnn-business/index.xml”,”videoId”:”business/2021/07/28/markets-now-mattel-ceo-barbie-toy-prices-holiday.cnn-business”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/210728140040-barbie-mattel-large-169.jpg”,”videoUrl”:”http://rss.cnn.com/videos/business/2021/07/28/markets-now-mattel-ceo-barbie-toy-prices-holiday.cnn-business/video/playlists/business-markets-investing/”,”description”:”Mattel CEO Ynon Kreiz breaks down the toy giant’s strong second quarter earnings and why he believes it will continue to thrive for the rest of the fiscal year.”,”descriptionText”:”Mattel CEO Ynon Kreiz breaks down the toy giant’s strong second quarter earnings and why he believes it will continue to thrive for the rest of the fiscal year.”},{“title”:”Construction CEO: No housing market slowdown in sight”,”duration”:”02:04″,”sourceName”:”CNN Business”,”sourceLink”:””,”videoCMSUrl”:”http://rss.cnn.com/video/data/3.0/video/business/2021/07/21/markets-now-housing-market-slowdown.cnn-business/index.xml”,”videoId”:”business/2021/07/21/markets-now-housing-market-slowdown.cnn-business”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/210721141108-markets-now-dave-flitman-large-169.jpg”,”videoUrl”:”http://rss.cnn.com/videos/business/2021/07/21/markets-now-housing-market-slowdown.cnn-business/video/playlists/business-markets-investing/”,”description”:”Dave Flitman, Builders FirstSource CEO, says the recent uptick in demand for housing will be “sustainable” over the next few years because of millennial and Gen Z clientele.”,”descriptionText”:”Dave Flitman, Builders FirstSource CEO, says the recent uptick in demand for housing will be “sustainable” over the next few years because of millennial and Gen Z clientele.”}],’js-video_headline-featured-29lcyeo’,”,”js-video_source-featured-29lcyeo”,true,true,’business-markets-investing’);if (typeof configObj.context !== ‘string’ || configObj.context.length

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Russia and China hold first joint patrol in the western Pacific, Russian defense ministry says

The patrols involved a total of 10 warships, five from each nation, and lasted a week, from Sunday, October 17 to Saturday, October 23, covering 1,700 nautical miles, according to the Ministry.The objective of the joint patrol was to “demonstrate the state flags of Russia and China, maintain peace and stability in the Asia-Pacific region…

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Russia and China hold first joint patrol in the western Pacific, Russian defense ministry says

The patrols involved a total of 10 warships, five from each nation, and lasted a week, from Sunday, October 17 to Saturday, October 23, covering 1,700 nautical miles, according to the Ministry.The objective of the joint patrol was to “demonstrate the state flags of Russia and China, maintain peace and stability in the Asia-Pacific region and also protect facilities of both countries’ maritime economic activity,” the statement read. “During the patrol, the group of warships passed through the Tsugaru Strait for the first time,” the statement added. The Tsugaru strait is body of water between the Japanese islands of Honshu and Hokkaido in the northern part of the country, connecting the Sea of Japan with the Pacific Ocean. In addition to the patrol, the two navies practiced joint tactical maneuvers and did a series of military drills, the statement added.The two countries have an ongoing military partnership and have conducted a series of joint military drills, the most high profile of which was “Vostok 2018,” which involved a simulated battle in which a Russian-Chinese coalition fought a fictional enemy.In August, Russia and China joined forces once again to use a joint command and control system, with Russian troops integrated into Chinese formations, according to a statement by China’s defense ministry at the time.Russia’s leader Vladimir Putin has an ally in Chinese President Xi Jinping, with Chinese foreign ministry spokesperson Zhao Lijian telling a news briefing in June that the two countries were “united like a mountain” with an “unbreakable” friendship.CNN’s Brad Lendon, Nectar Gan, Ben Westcott, Mary Ilyushina and Nathan Hodge contributed to this report.

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Royal Caribbean announces nine-month world cruise

(CNN) — It would’ve been unthinkable 12 months ago as the cruise industry reeled from the effects of Covid, but one operator is now offering an epic new voyage that will last nine months and take travelers to more than 150 destinations. Royal Caribbean Cruise Line’s Serenade of the Seas is set to commence sailing…

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Royal Caribbean announces nine-month world cruise

(CNN) — It would’ve been unthinkable 12 months ago as the cruise industry reeled from the effects of Covid, but one operator is now offering an epic new voyage that will last nine months and take travelers to more than 150 destinations. Royal Caribbean Cruise Line’s Serenade of the Seas is set to commence sailing in December 2023 from Miami, sailing for 274 nights before returning to Florida in September 2024.In a statement, Royal Caribbean International president Michael Bayley said the trip — dubbed “The Ultimate World Cruise” — is designed to help travel-starved cruisers “make up for lost time.”Voyaging the globeSerenade of the Seas has been a stalwart of the RCCL fleet since 2003. The 965 feet long ship has 13 decks and can accommodate up to 2,476 guests, according to Royal Caribbean’s website.Upon leaving Miami on the world cruise in late 2023, the vessel is set to travel around the Caribbean, before scheduled stop offs in Central and South America, including trips to the Brazilian city of Rio de Janeiro and Argentina’s Iguazu Falls.Also on the globe-spanning itinerary are landmarks including the Great Wall of China, the Taj Mahal and the Pyramids of Giza.Travelers can book the full nine-month experience, or schedule a specific chunk of the trip and just join for the Americas and Antarctica, for example. Royal Caribbean told CNN Travel the price range for the full excursion is between $66,000 to $112,000 per person, plus taxes and fees.World cruises were a staple of the cruise scene pre-pandemic, but usually topped out at 150 days or so. Viking Cruises scheduled a 245-day trip from August 2019 to May 2020 on board Viking Sun, but this voyage was cut short when Covid-19 shut down the cruise industry in Spring 2020.Cruising has since recommenced in many markets, with cruise companies keen to prove a vacation at sea is a safe and viable holiday option.It’s still over two years until the Serenade of the Seas is set to embark on its globe-spanning trip, but travelers can reserve their cabins now.Top photo courtesy Jean-Francois Monier/AFP/Getty Images

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Explosion at Russian gunpowder workshop kills 17, report says

The Investigative Committee of the Russian Federation said a criminal investigation had been launched into the blast.According to Reuters, an entire shift of workers was at the site when the brick building was ripped apart.Emergency services were alerted at 8:22 a.m. Moscow time to a fire at the Shilovsky district, Lesnoy village, Ryazan region, Russia’s…

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Explosion at Russian gunpowder workshop kills 17, report says

The Investigative Committee of the Russian Federation said a criminal investigation had been launched into the blast.According to Reuters, an entire shift of workers was at the site when the brick building was ripped apart.Emergency services were alerted at 8:22 a.m. Moscow time to a fire at the Shilovsky district, Lesnoy village, Ryazan region, Russia’s Ministry of Emergency Situations said.Officials believe the fire started at one of the plant’s gunpowder workshops, the ministry said.A video circulating on social media on Friday purportedly shows the moment the blast happened, with a yellow fireball rising in the air from the brick building. Images from the disaster showed scattered, charred debris as smoke billows over a demolished building.”The body of the 17th victim was taken out from under the rubble of the workshop. Search and rescue operations at the explosion site have been completed, there are no more people under the rubble,” TASS cited the emergency services as saying.Regional Governor Nikolay Lubimov declared October 25 a day of mourning in the Ryazan region, which lies to the southeast of Moscow, for those killed in the blast and insisted more needed to be done to ensure the safety of those working in “hazardous industries.””This is an egregious case, and everything possible must be done so that nothing like this will happen again. Both in hazardous industries and in those that are lower in hazard class, but can pose a threat to the life and health of people,” he said. Lubimov said he would recommend that authorities carry out unscheduled inspections at such facilities.A statement from the Investigative Committee of the Russian Federation said officials would check the plant’s compliance with safety standards for hazardous production facilities. The investigation will also consider what may have caused the fire, it said.CNN’s Katharina Krebs reported from Moscow and Toyin Owoseje wrote from London.

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