A $1.44 billion restructuring deal at an insolvent coal mining company in eastern Shandong province offers a glimpse into how China is preparing to tackle a corporate debt burden that has ballooned to $17.9 trillion. China’s leaders want the restructuring to address financial risks while avoiding big employee lay-offs. Source: Reuters
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The U.K. economy posted its worst performance in a year as the dominant services industry felt the impact of an intensifying squeeze on living standards. Source Bloomberg
The company supplied a record 178.3 Bcm to what it calls the Far Abroad (Europe plus Turkey, excluding members of the former Soviet Union), but reported sales volumes to those countries slipped 1.1% because of lower sales prices. Oil & Gaz 360
Poland has signed its first deal to purchase liquefied natural gas from a U.S. supplier, a step that will help the country’s efforts to cut its dependence on deliveries from Russia, officials said Thursday. Source ABC news