The Chinese banking giant in the shadows is warning investors of missed payments

The Chinese banking giant in the shadows is warning investors of missed payments

(Bloomberg) — One of China’s largest private wealth managers has raised fresh concern about the health of the country’s shadow banking industry after it missed payments on several high-yielding products. Most Read from Bloomberg Three companies said late Friday that they had failed to receive payments on products issued by companies linked to Zhongzhi Enterprise … Read more

US Steel rejects a $7.3 billion bid from rival Cleveland Cliffs. Alternatives are considered

US Steel rejects a $7.3 billion bid from rival Cleveland Cliffs.  Alternatives are considered

New York (AFP) – U.S. Steel said Sunday it had rejected a $7.3 billion takeover bid from rival Cleveland-Cliffs and was reviewing “strategic alternatives” after receiving several unsolicited offers. Pittsburgh-based US Steel said it declined the offer because Cleveland Cliff was pushing it to accept the terms without allowing it to conduct proper due diligence. … Read more

US Steel explores strategic alternatives after receiving unsolicited bids

US Steel explores strategic alternatives after receiving unsolicited bids

(Bloomberg) — The United States Steel Corporation has begun a formal review of strategic alternatives after receiving “multiple unsolicited” proposals, a sign that the years-long transition may finally be bearing fruit. Most Read from Bloomberg Chief Executive Officer David Porritt said Sunday in a statement that the proposals ranged from acquiring certain production assets to … Read more

The United States is facing a debt storm. Here are 5 charts that show there’s a problem with preparation.

The United States is facing a debt storm.  Here are 5 charts that show there's a problem with preparation.

Commercial mortgages are a segment of the debt market that is under severe pressure from rising rates and tightening financial conditions.Afton Almaraz / Getty A storm of public and private debt problems is heading into the market. Warning signs showed up in increasing credit card balances, late payments, and other indicators. Here are the signs … Read more