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China Evergrande has been ordered to liquidate. The real estate giant owes over $300 billion

A court in Hong Kong has issued a ruling for the liquidation of Evergrande Group, a major Chinese real estate conglomerate, after the company's repeated failures to restructure its massive debt. Evergrande is burdened with over $300 billion in liabilities and is responsible for numerous incomplete residential projects across China.

As the world's most indebted property developer, Evergrande has been grappling with financial instability since 2021. This was when the company first defaulted on its debts, following years of aggressive borrowing that contributed significantly to China's construction surge. The company's financial woes were further exacerbated by a government clampdown on debt financing, leading to severe liquidity issues.

The court's decision paves the way for a court-appointed liquidator to dispose of assets on a global scale and address outstanding debts. However, reports suggest that a considerable portion of Evergrande's assets have already been sold or confiscated. The fallout from this liquidation is anticipated to have widespread effects on China's real estate market, which constitutes roughly a quarter of the nation's economy. The response of Chinese authorities to the Hong Kong court's ruling remains uncertain.

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Police investigate the son of former Brazilian President Bolsonaro for alleged spying on opponents

Brazil's federal police carried out searches at the residences and offices of ex-President Jair Bolsonaro and his son, Carlos Bolsonaro, yesterday. This action is part of an investigation into accusations that the former president's government used advanced intelligence software to surveil political adversaries. This development follows similar raids conducted last week on the home of Alexandre Ramagem, Bolsonaro's former chief intelligence officer, who is suspected of orchestrating the secret espionage operation.

The focus of the search warrants was primarily on 41-year-old Carlos Bolsonaro, who is a city councilor in Rio de Janeiro and a close advisor to his father. Authorities allege that Ramagem, Carlos, and others unlawfully employed FirstMile, an Israeli-developed software acquired in 2018, to monitor the communication devices of Jair Bolsonaro's political rivals. This group includes judges, journalists, and politicians, with approximately 30,000 instances of alleged surveillance. Both Jair Bolsonaro and Ramagem have refuted these claims.

These inquiries occurred six months following a decision by a judicial panel that prohibited the former president from seeking public office until 2030. This ban was imposed due to Bolsonaro's efforts to undermine confidence in Brazil's electoral system.

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‘Suits’ Sets Another Streaming Record for 2023: Biggest Year Ever

"Suits" has achieved a significant feat at the close of 2023, setting a new record by becoming the most-streamed show of the year according to Nielsen's rankings. This marks an impressive milestone in the relatively short history of these streaming charts.

2023 was a remarkable year for shows already in streaming libraries, as they dominated the top 10 positions in Nielsen's year-end rankings. However, there was a surprising development in the category of original series. "Ted Lasso," available on Apple TV+, emerged as the most-watched original series across the platforms tracked by Nielsen. Notably, Apple TV+ has the smallest subscriber base among these platforms. This marks the first time a show not on Netflix has achieved the number one spot in either the original or acquired series categories in the four years that Nielsen has published year-end charts.

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