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China Evergrande, the property developer whose woes helped bring about a slump in the country’s vitally important real estate market, has reported its debts rose further to about $340 billion by the end of last year BEIJING -- China Evergrande, the property developer whose woes helped bring about a slump in the country’s vitally important real estate market, has reported its debts rose further to about $340 billion by the end of last year. In a notice to the Hong Kong Stock Exchange, Evergrande said it had losses totaling about $81 billion in 2021-2022 and that its revenues plunged by about half in 2021. Chinese leaders are trying to revive economic growth that fell to 3% last year, its second-lowest level since the 1970s. Regulators stepped in to supervise Evergrande’s debt restructuring, but apparently rejected a bailout to avoid sending the wrong message to companies about the need to reduce their debts The continuing troubles for Evergrande, said to be the global real estate indust...

Charitable giving in the United States declined in 2022 -- only the fourth time in four decades that donations did not increase year over year -- according to the Giving USA report released Tuesday NEW YORK -- Charitable giving in the United States declined in 2022 -- only the fourth time in four decades that donations did not increase year over year -- according to the Giving USA report released Tuesday. Total giving fell 3.4% in 2022 to $499.3 billion in current dollars, a drop of 10.5% when adjusted for i NFL ation. The decline comes at a time when many nonprofits, especially ones providing services to those in need, report an increase in requests for help. However, Josh Birkholz, chairman of the Giving USA Foundation, which publishes the report and provides data and insights about donation trends, said the results are actually much better than they could have been considering the tough economic climate of late 2022. “I go back and forth on whether it’s encouraging or discouraging...

Some industries posted blockbuster expansions in April while others lagged far behind. A better-than-expected jobs report on Friday defied interest rate hikes that aim to slash inflation by cooling the economy. Instead, the U.S. added 253,000 jobs in April, marking a slight decline from an average of 290,000 over the previous six months. The unemployment rate fell to 3.4%, matching a 54-year low, government data showed. The job gains, however, did not accrue evenly across sectors. Some industries posted blockbuster expansions while others lagged far behind. "There are good signs and there's broad growth," William Spriggs, chief economist for the labor federation AFL-CIO, told ABC News. "But many of the sectors didn't do very much." MORE: Is PacWest Bank on the brink of collapse? Experts weigh in after shares plummet 50% Here's what to know about which industries are seeing jobs grow the fastest and why: Business and professional services: 43,000 jobs...

People worldwide are more gloomy about their economic prospects than ever before and trust business far more than governments, nonprofits and the media in an increasingly divided world LONDON -- People worldwide are more gloomy about their economic prospects than ever before and trust business far more than other institutions like governments, nonprofits and the media in an increasingly divided world, according to a survey from public relations firm Edelman. Released late Sunday to coincide with the World Economic Forum's gathering of business elites and government leaders this week in Davos, Switzerland, the online survey conducted in 28 countries shows that fewer people believe their family will be better off in five years. Those who believe they'll be better off dropped to 40% from 50% last year and hit all-time lows in 24 nations. That is because 89% fear losing their job, 74% worry about inflation, 76% are concerned about climate change and 72% worry about nuclear war. Th...