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China Sentences Evergrande Founder To Life In Prison
China Sentences Evergrande Founder To Life In Prison
Five years after Chinese property development firm Evergrande Group collapsed under the weight of enormous debt, founder Xu Jiayin was sentenced to life in prison on Thursday.
Xu Jiayin, also known as Hui Ka Yan, founder of property developer Evergrande, appears for sentencing at the Shenzhen Intermediate People's Court in Shenzhen, China, on Aug. 20, 2026. Shenzhen Intermediate People's Court /Xinhua via AP
Xu (Hui Ka Yan in Cantonese), 64, pleaded guilty in April to fundraising fraud, illegally taking public deposits, illegally extending loans, bribery, fraudulently...
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Jun 7, 2026 / Tyler Durden
Sam Altman Pushes Plan For Backdoor Government Backstop By Handing Out Small Equity Stake To Americans
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Back in November, amid mounting speculation that OpenAI's massive cash burn was massively unsustainable in light of the $1.4 trillion of funding commitments by the AI company, which in turn has sparked the biggest capex flood in modern history all on the hope that the company's promised payments will be made good, OpenAI CFO Sarah Friar sparked a market selloff when amid an admission that OpenAI was “looking for an ecosystem of banks [and]...
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Apr 28, 2026 / Tyler Durden
Homeowner Floats Mansion Swap For Anthropic Equity
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A LinkedIn profile for a luxury property in Marin County, just north of San Francisco and across the Golden Gate Bridge, states that the homeowner is open to exchanging the 14-acre estate for Anthropic equity.
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Apr 17, 2026 / Tyler Durden
Trump Declares Hormuz 'Never Again' Closed By Iranians, State Media Quickly Calls BS In New Threat
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Summary
Trump Praises Iran for Fully Reopening Hormuz Chokepoint; Crude Tanks, Yields Dump, Equity Futs Up; Follows by claiming Iran will 'never again' close it; FARS soon after contradicts in fresh threat.
Iran's Aragchi says "Strait of Hormuz is declared completely open". However, Iranian official tells FARS: "If the maritime blockade continues, it will be considered a violation of the ceasefire, & the Strait of Hormuz transit route will be closed."
US mulls cash-for-uranium deal as 'three-page'...
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