Day: August 14, 2025

Hong Kong developer Road King defaults on bond payment, securities

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Road King Infrastructure suspended US$22.6 million in interest payments and will defer distributions of US$56.5 million on perpetual securities, making it the first Hong Kong-based developer to default on bond payments since China’s property crisis began in 2021. Advertisement The firm failed to win enough creditor consent for debt amendments aimed at easing short-term cash strain and missed interest payments on two notes due in July, it said in a filing with the Hong Kong stock exchange on Thursday. The company said it would suspend all principal and interest on…

Jimmy Lai could die in prison, Hong Kong tycoon’s son tells BBC

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Jailed Hong Kong pro-democracy tycoon Jimmy Lai could die in in prison if found guilty, his son told the BBC. Sebastien Lai was speaking to the BBC’s Danny Vincent ahead of the final stage of his father’s trial for national security offences. The 77-year-old British citizen is accused of colluding with foreign forces, which he denies. He faces life in prison if convicted. He has been in jail since December 2020, serving time for other convictions related to his role in the city’s pro-democracy protests. He was due in court…

US Treasury secretary Bessent says Japan is ‘behind the curve’ on rates

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Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world US Treasury secretary Scott Bessent has said that Japan’s central bank is falling “behind the curve” on inflation and will probably have to raise interest rates, in a rare swipe by a senior official at the monetary policy of another country. “The Japanese have an inflation problem . . . They’re behind the curve so they are going to be hiking and they need to get their inflation problem under control,” Bessent…

Opec pops US shale’s balloon

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Fears of a massive non-dom exodus from the UK have been allayed by initial tax data, and UK companies in China are being buoyed by diplomatic law. Plus, the FT’s Jamie Smyth explains why the US shale boom may be over after a decade-long run. Mentioned in this podcast: UK companies in China buoyed by diplomatic thaw US oil producers say Opec ‘price war’ will halt shale boom Initial tax data allays fears of non-dom exodus from UK Sign up for the FT Weekend Festival at ft.com/festival and use the…