Three weeks ago Leiyang, Hunan was in the news for missing payments to civil servants. See: Local Debt Risk Driving Turf War as PBoC and MoF Toss Hot Potato
Leiyang is back in the news.
Caixin: China’s Paper City Could Become a House of Cards
Pengyuan Credit Rating lowered the outlook on bonds issue by a Leiyang local government owned investment company, from stable to negative. Among the reasons for the ratings cut are rapidly growing debt and weak fiscal revenues.
GOOG/GOOGL: Blowout Quarter, MSFT: Excellent Quarter As Well
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Google (GOOG/GOOGL) just reported a blowout quarter after the market close
Thursday. Revenue was +15%, Operating Margin surged to 31.6% from 25.0% a
year a...
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