China's Country Garden posts record loss, warns of possible default

Chinese developer Country Garden Holdings Co has warned of a potential default on its debt and expressed concerns about staying in business after reporting a record loss of nearly $7bn for the first half of the year. The company stated that if its financial performance continues to deteriorate, it may not be able to meet its debt obligations, raising doubts about its ability to continue as a going concern. https://ift.tt/cRik3ZO