Business

Producer prices in China's manufacturing industry rose at their strongest ever pace in September due to high energy and raw material costs.   There are also shortages of certain materials on top of that. Moreover, soaring sales prices in the world's largest exporting country could also further fuel inflation worldwide, as Chinese exporters pass the higher costs on to customers. Producer prices rose by 10.7 percent compared to a year earlier, according to the Chinese statistical office. That is the strongest increase since the start of the measurements in 1996. The figure is also stronger than economists had expected. In August, producer prices in China already climbed by 9.5 percent. Chinese manufacturers are dealing with very sharp increases in the price of coal and electricity a...

Several bondholders have still not received money from the financially troubled property developer Evergrande. Several investors who owe interest payments from the group told Bloomberg news agency that they had not received a dollar a few hours before the payment term expired.   Evergrande owes more than $45 million in interest by Thursday on the bond that matures in 2024. Under the bond arrangements, there is a grace period of 30 days before a missed payment on that bond would become a default. The developer with the most significant debt burden globally, converted 260 billion euros, would also have missed a payment last week. Credit rating agency Fitch then lowered the developer's credit rating to junk status. The threat of Evergrande's bankruptcy is holding investors globally un...