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(Bloomberg) — Across China, homebuyers are refusing to pay mortgages as property developers drag on construction projects, escalating the country’s real estate crisis and risks of bad debt for banks. Most Read from Bloomberg Buyers of 35 projects across 22 cities have decided to stop paying mortgages as of July 12 due to project delays and a drop in real estate prices, Citigroup Inc. analysts led by Griffin Chan wrote in a research report distributed on Wednesday. The payment refusals… Source link

Kevin Durant is the co-star of the NBA’s hottest offseason drama. Adam Silver prefers that he wasn’t. The NBA commissioner held a news conference on Tuesday from the league’s owners meetings. He was asked directly about his thoughts on Durant’s trade request with the entirety of his four-year $194 million contract extension remaining. He’s not happy about it. “I don’t know whether he requested a trade or demanded one, frankly,” Silver said. “This needs to be a two-way street. Teams provide… Source link

The departure of head coach Quin Snyder and trade of Rudy Gobert to the Minnesota Timberwolves initiated an imminent teardown and rebuild in Utah. Yet the Jazz initially signaled they weren’t ready to part with Donovan Mitchell, an All-Star in his prime on a team with no prospect of contending anytime soon. Now it appears that they’re at least open to dealing Mitchell. ESPN’s Adrian Wojnarowski reported Tuesday the Jazz “are showing a willingness to listen on possible trade… Source link

Four Seahawks Labeled “Underrated” Ahead Of 2022 NFL Season The Seattle Seahawks are preparing to head into the 2022 NFL season with several new faces as well as key starters returning from injury. Tim Weaver of Yahoo Sports ranks his top-four underrated players on the Seattle Seahawks roster heading into training camp and the upcoming season. Making the cut are safeties Jamal Adams and Quandre Diggs, defensive tackle Shelby Harris and outside linebacker Uchenna Nwosu. Weaver starts out by… Source link

The New England Patriots are cutting ties with N’Keal Harry. Per NFL Network, the Patriots are trading the former first-round pick to the Chicago Bears. They’ll get a seventh-round pick from Chicago in return. The Patriots selected Harry with the 32nd pick of the 2019 draft, hoping the Arizona State wide receiver could boost a longstanding position of weakness. After three seasons in New England, it became clear that he wasn’t the right fit. During his time in New England, Harry tallied 57… Source link

Last week, Elon Musk said that he was ending his bid to buy Twitter (TWTR) — prompting the social media platform to almost immediately fire back, calling his effort to terminate the deal “invalid and wrongful.” So, what’s next? It’ll definitely get messier from here, for one. Musk could be on the hook for a $1 billion reverse breakup fee and, on top of that, the merger agreement features a “specific performance” clause that could theoretically force the Tesla (TSLA) CEO to close the… Source link

Henry Ruggs is facing up to 50 years in prison after he allegedly killed a 23-year-old woman and her dog in a fiery crash last November. (Bizuayehu Tesfaye-Pool/Getty Images) A judge ruled on Tuesday that blood alcohol tests will be allowed as evidence in the case against former Las Vegas Raiders wide receiver Henry Ruggs III, according to ESPN. Ruggs is facing multiple felony charges after he allegedly drove more than 150 miles per hour while he was intoxicated in November, which led to a… Source link

JaMarcus Russell knows his career didn’t turn out the way he or anyone else wanted it to. The former No. 1 overall pick by the then-Oakland Raiders in 2007 lasted just three seasons in the NFL before he was released in 2010 and never played another NFL snap. But he also believes he was never truly given a chance to succeed on the Raiders and that helped fuel his status as one of the worst draft picks of all time. Russell talked about what went wrong on The Pivot Podcast with former NFL players… Source link

Disney (DIS) has inked a deal with Korean pop band BTS. The world-famous band will appear in two exclusive shows on Disney’s streaming services after the media conglomerate struck a deal with the band’s label Hybe Co. Disney confirmed to Yahoo Finance that the two companies will produce five streaming titles, including three exclusive projects (docuseries, concert film and reality show) that feature BTS or BTS members. The titles will air on Disney+ in all Asian markets and all international… Source link

The Biden administration is reeling from gasoline prices that crested to $5 per gallon in June and are still historically high. So are millions of drivers. But relief may be on the way. During a briefing for reporters on July 12, senior White House officials said a drop in wholesale gas prices suggests retail prices could drop by 50 cents per gallon or so in coming weeks. “We’ve seen the price of oil fall to a range of $100 per barrel, and we have not yet seen gas prices at the pump fall… Source link