Evergrande Creditors Brace for Battle on Fate of Offshore Assets: Kirkland & Ellis and Moelis & Co. are working on contingency plans with offshore holders of China Evergrande Group’s bonds who fear the struggling company may sell assets that they’re counting on to back up their claims if the business collapses.
US employers add a weak 194,000 jobs as delta maintains hold: WASHINGTON (AP) — U.S. employers added just 194,000 jobs in September, a second straight tepid gain and evidence that the pandemic has kept its grip on the economy, with many companies struggling to fill millions of open jobs.
Value of NYC office space plummets after pandemic: report: The market value of the city’s office building inventory plummeted 16.6 percent over the past year – its first such decline since at least 2000, according to a report released Thursday by state Comptroller Thomas DiNapoli.
North Carolina Takes Over Finances of Town Bordering Fort Bragg: North Carolina took over the finances of a town bordering Fort Bragg, highlighting the state’s strong authority to intervene in cases of municipal fiscal distress.
Alarm Company Brinks Offers 10% Yield on Junk Bond to Tackle Debt - Bloomberg: For an indication of how sanguine some people are on the current credit cycle, look no further than Brinks Home Security. The heavily indebted alarm company, which is operated by Monitronics International Inc. and exited bankruptcy only a couple of years ago, is looking to sell $1.1 billion of junk-rated bonds to repay existing debt.
Weak Employment and Rising Prices Raise the Stakes for the Fed - The New York Times: The disappointing payrolls report for September came at a high-pressure moment for the central bank, as it balances inflation with missing jobs.