Some holders of U.S. dollar bonds issued by China Evergrande Group‘s unit Scenery Journey Ltd have not received interest payments due on Saturday by Monday morning in Asia, two people familiar with the matter said.
The company was due to make semi-annual coupon payments on Saturday worth a combined $82.49 million on its 13% November 2022 and 13.75% November 2023 bonds.
Non-payment of interest by Nov. 6 would have kicked off a 30-day grace period for payment. The company has narrowly averted defaults by paying previous coupons just before the expiration of their grace periods.
One such period expires on Wednesday, Nov. 10, for more than $148 million in coupon payments that had been due on Oct. 11.
A spokesperson for Evergrande did not immediately respond to a request for comment. The sources could not be named as they were not authorised to speak to the media.
Reuters was unable to determine whether Evergrande has told bondholders what it planned to do regarding the coupon payment due on Saturday.
(Reporting by Clare Jim and Andrew Galbraith; Editing by Muralikumar Anantharaman)
Courts block two Biden administration COVID vaccine mandates
The Biden administration was blocked on Tuesday from enforcing two mandates requiring millions of American workers to get vaccinated against COVID-19, a key part of its strategy for controlling the spread of the coronavirus.
U.S. District Judge Terry Doughty in Monroe, Louisiana, temporarily blocked the Centers for Medicare & Medicaid Services (CMS) from enforcing its vaccine mandate for healthcare workers until the court can resolve legal challenges.
Doughty’s ruling applied nationwide, except in 10 states where the CMS was already prevented from enforcing the rule due to a prior order from a federal judge in St. Louis.
Doughty said the CMS lacked the authority to issue a vaccine mandate that would require more than 2 million unvaccinated healthcare workers to get a coronavirus shot.
“There is no question that mandating a vaccine to 10.3 million healthcare workers is something that should be done by Congress, not a government agency,” wrote Doughty.
Separately, U.S. District Judge Gregory Van Tatenhove in Frankfort, Kentucky, blocked the administration from enforcing a regulation that new government contracts must include clauses requiring that contractors’ employees get vaccinated.
The contractor ruling applied in the three states that had filed the lawsuit, Kentucky, Ohio and Tennessee, one of at least 13 legal challenges nationwide against the regulation. It appears to be the first ruling against the contractor vaccine mandate.
The White House declined to comment.
The legal setbacks for President Joe Biden’s vaccine policy come as concerns that the Omicron coronavirus variant could trigger a new wave of infections and curtail travel and economic activity across the globe.
Biden unveiled regulations in September to increase the U.S. adult vaccination rate beyond the current 71% as a way of fighting the pandemic, which has killed more than 750,000 Americans and weighed on the economy.
Republican state attorneys general, conservative groups and trade organizations have sued to stop the regulations.
Tuesday’s rulings add to a string of court losses for the Biden administration over its COVID-19 policies.
The most sweeping regulation, a workplace vaccine-or-testing mandate for businesses with at least 100 employees, was temporarily blocked by a federal appeals court in early November.
In August, the U.S. Supreme Court ended the administration’s pandemic-related federal moratorium on residential evictions.
(Reporting by Tom Hals in Wilmington, Delaware; Additional reporting by Nandita Bose in Washington; Editing by Jonathan Oatis and Peter Cooney)
Putin hits back as NATO warns Moscow against attacking Ukraine
Russia would pay a high price for any new military aggression against Ukraine, NATO and the United States warned on Tuesday as the Western military alliance met to discuss Moscow’s possible motives for massing troops near the Ukrainian border.
President Vladimir Putin countered that Russia would be forced to act if U.S.-led NATO placed missiles in Ukraine that could strike Moscow within minutes.
Ukraine, a former Soviet republic that now aspires to join the European Union and NATO, has become the main flashpoint between Russia and the West as relations have soured to their worst level in the three decades since the Cold War ended.
“There will be a high price to pay for Russia if they once again use force against the independence of the nation Ukraine,” NATO Secretary General Jens Stoltenberg told reporters.
U.S. Secretary of State Antony Blinken echoed Stoltenberg, saying: “Any escalatory actions by Russia would be a great concern to the United States…, and any renewed aggression would trigger serious consequences.”
Tensions have been rising for weeks, with Russia, Ukraine and NATO all staging military exercises amid mutual recriminations over which side is the aggressor.
Putin went further than previously in spelling out Russia’s “red lines” on Ukraine, saying it would have to respond if NATO deployed advanced missile systems on its neighbour’s soil.
“If some kind of strike systems appear on the territory of Ukraine, the flight time to Moscow will be 7-10 minutes, and five minutes in the case of a hypersonic weapon being deployed. Just imagine,” the Kremlin leader said.
“What are we to do in such a scenario? We will have to then create something similar in relation to those who threaten us in that way. And we can do that now,” he said, pointing to Russia’s recent testing of a hypersonic weapon he said could fly at nine times the speed of sound.
EU and other Western leaders are involved in a geopolitical tug-of-war with Russia for influence in Ukraine and two other ex-Soviet republics, Moldova and Georgia, through trade, cooperation and protection arrangements.
NATO foreign ministers began two days of talks in the Latvian capital Riga to debate what they say is the growing Russian threat, with Blinken due to brief his 29 alliance counterparts on Washington’s intelligence assessment.
Blinken, speaking at a news conference with his Latvian counterpart, said he will have more to say on Wednesday on how to respond to Russia after holding talks with NATO allies.
“We will be consulting closely with…allies and partners in the days ahead…about whether there are other steps that we should take as an alliance to strengthen our defences, strengthen our resilience, strengthen our capacity,” he said.
Ukraine Prime Minister Denys Shmygal accused Russia https://www.reuters.com/world/europe/exclusive-ukraine-pm-says-russia-absolutely-behind-coup-attempt-2021-11-30 of trying to topple the elected government in Kyiv, which the Kremlin denies, after Ukraine’s president last week unveiled what he said was a coup attempt.
Shmygal also said Ukraine would seek more weapons from the United States – precisely the course of action that Putin has warned against.
The Kremlin annexed the Black Sea peninsula of Crimea from Ukraine in 2014 and then backed rebels fighting government troops in the east of the country. That conflict has killed 14,000 people, according to Kyiv, and is still simmering.
In May, Russian troops on Ukraine’s borders numbered 100,000, the most since its Crimea takeover, Western officials say. Ukraine says there are more than 90,000 there now.
Moscow has dismissed as inflammatory Ukrainian suggestions that it is preparing for an attack, said it does not threaten anyone and defended its right to deploy troops on its own territory as it wishes.
Britain and Germany echoed the NATO warnings.
“We will stand with our fellow democracies against Russia’s malign activity,” said British Foreign Secretary Liz Truss.
German Foreign Minister Heiko Maas said: “NATO’s support for Ukraine is unbroken…Russia would have to pay a high price for any sort of aggression.”
(Additional reporting by John Chalmers in Brussels; writing by Gabriela Baczynska, Robin Emmott and Mark Trevelyan; editing by Mark Heinrich)
Jazz singer Josephine Baker first Black woman honoured at France’s Pantheon
Josephine Baker, the famed French American singer and dancer, was inducted on Tuesday into the Pantheon mausoleum in Paris – one of France’s highest honours – at a ceremony attended by French President Emmanuel Macron.
Baker, who also served in the French Resistance during World War Two and was a prominent civic rights activist after the war, is the first Black woman and sixth woman to enter the Pantheon, a Paris landmark dominating the city’s Latin Quarter.
She was “a Black person who stood up for Black people, but foremost, she was a woman who defended humankind,” Macron said during a speech.
He spoke shortly after Baker’s most famous song, “J’ai deux amours, mon pays et Paris” (“I have two loves, my country and Paris”), was played at the ceremony.
Baker was born in St. Louis, Missouri, in 1906 but went on to find much of her fame after arriving in Paris in the 1920s, as many Black Americans stayed on in the French capital after World War One and brought over with them American jazz culture.
Baker, who became a French citizen in 1937, died in 1975 and is buried in Monaco.
In accordance with her family’s wishes, Baker’s remains have not been moved to the Pantheon. To represent her presence there, a symbolic coffin was carried into the mausoleum by six pallbearers containing handfuls of earth from four locations: St. Louis, Paris, Monaco and Milandes, in the Dordogne department of France, where Baker owned a castle.
Baker’s empty coffin will lie alongside other French national icons in the mausoleum such as authors Emile Zola and Victor Hugo, the philosopher Voltaire and politician Simone Veil.
(Reporting by Benoit Van Overstraeten; Editing by Lisa Shumaker)
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